While we are likely to see some of the leading scams from 2022 continue into 2023, technology developments and other macro-factors may result in further developments on the same activities. We asked a number of experts to share their predictions around scams and fraud throughout 2023.
Fintech has grown rapidly in recent years to address the expanding demand for better experiences in personal finance management and payments, merchant payments and payments-as-a-service, cross-border payments and exchange, professional services and payroll management, and financial services related to real estate, rent and property management. Here we look at how businesses can benefit from embedded finance.
Last year, fintech companies worldwide were expected to fetch $84.7 billion in funding, according to third quarter 2022 projections from the research company CB Insights. While that sum might sound impressive, they raised $141.2 billion in 2021. For some fintech founders, it marks an unfamiliar reality that’s akin to a violent yo-yo. While building businesses always requires enduring vexing surprises, now entrepreneurs are attempting to do so while interest rates are rising and company valuations are falling. With less capital to go around, the stakes are high and some founding teams might feel added pressure to sell.
Fabrica has done what many have wanted to do for years, but largely failed to do. They have put real estate on the blockchain. Putting something “on the blockchain” via an NFT is not an end in itself. What is more important is that Fabrica solves a real problem—lowering the costs and increasing the speed of transacting in the real estate market.
We’re excited to announce that the Charlie Finance team is joining Chime! This talented group, whose mission is aligned with Chime’s, will continue working on new and better ways to provide people more control over their financial lives.