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2018 Financial Predictions: Comment from SQS CEO Dik Vos
“I predict 2018 to be a year like no other for the financial services. With Open Banking due to come into place in January and continued negotiations around regulatory changes in preparation for Brexit, there’s no corner of the industry that will remain undisturbed. However, during periods of change, it is more important than ever for the industry to be on guard to retain consumer trust.
Banks cannot afford to become complacent when it comes to customer loyalty, particularly as 62 per cent of account holders said that if their bank suffered a data breach their trust would be broken, according to recent SQS research. Banking providers must ensure customer’s personal data is robustly protected or run the risk of losing them to competitors particularly as customers become ever more reliant on technology, with 65% of UK adult consumers now using mobile and online banking applications.
In a turbulent year ahead for the sector, it will be even more important for banks to prioritise digital, online and support services for consumers, whilst implementing stringent protection mechanisms against fraud. The best way to retain trust and maintain customer loyalty is to embed quality assurance into every part of the customer banking experience.”
Dik Vos, CEO, SQS
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More than half (59%) of Brits admit that they’ll use AI to help with their tax return
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WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced it raised $45 million in funding.
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How could AI agents search, compare and pay for things? What makes stablecoins a game-changer for cross-border digital commerce? Why are local Alternative Payment Methods (APMs) crucial for any business wanting to enter and scale in emerging markets?
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United Gulf Financial Services (UGFS North Africa), a leading venture capital firm offering innovative companies and startups with financial support and mentoring services, has announced a partnership with The Hashgraph Association, a Swiss non-profit organization driving global adoption of Hedera-powered solutions by funding innovation, training, certification, and venture building programs, and Exponential Science Foundation, a not-for-profit foundation accelerating responsible tech adoption, via research, education, and innovation activities, for Hedera Africa Hackathon 2025, the biggest hackathon in Africa aimed at enabling the next generation of Web developers and empower economic inclusion in Africa with a digital future for all.
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