Prove Blog

We took a look at a few interesting actions undertaken by a few FinTech companies around the world to fight COVID-19.

In this story, we analyze the money lost due to crypto hacks, the volume of hacks, the region with the maximum amount of money lost due to hacks, and how it can be solved.

Small/medium-scale enterprises (SMEs) are a vital cog in a country’s economy.

Video banking is not the latest trend in the Polish banking sector. Some banks have already offered it: e.g., ING Bank Śląski, Raiffeisen Polbank, Alior Bank, or Idea Bank. However, it’s mBank, whose number of video calls constantly increases, simplifying e-banking. mBank’s system is the most innovative on the market, not just in Poland. The service is available 24/7, also for those that are not mBank’s customers but are interested in its offer.

Regulatory divergence (costs, risks, impacts) costs financial institutions 5–10% of their annual turnover (on average) according to a study cited in the Cost of Compliance 2018 Report.

It is expected that AI will be the next big thing in finance, changing how we do everyday transactions.

The ability of AI to mitigate risk remains one of the most critical areas of development for financial institutions.

Mr. Nakamoto developed blockchain as an acceptable solution to the game theory puzzle—Byzantine General’s Problem. This led to many companies adopting the technology in different ways to solve real-world issues, wherever there was an element of trust involved.

As digital activity volume increases, digital-native FinTechs are compelled to combat application abandonment and reduce identity fraud.

There are around 700–800 InsurTech firms globally that are addressing the requirements of the $4.5-trillion insurance industry.

While globalization and innovation in technology have helped in facilitating large sums of money quickly, it has also helped in rapid money laundering.

The B2B cross-border payment market alone is valued at over $150 trillion, over 60 times the e-commerce market, creating a lucrative market opportunity for FinTech companies.