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Leader in What lessons have you learned in the last 12 months? Carta Worldwide, FinTech Wales, AAZZUR, Hokodo, and Brite Payments share 2022 achievements.
2022 has been a very positive year for Welsh fintech, says Sarah Williams-Gardener CEO of Fintech Wales.
We have seen great success and growth from many startups, scale-ups and enterprise members operating domestically and internationally. From tech cluster to critical cluster.
But we must not become complacent and continue to seek community growth and connection. We have taken a big step towards attracting and supporting, and are also a key factor in attracting international companies from around the world to develop in Wales.
There are many uncertainties ahead, but the need for fintech solutions has never been greater. A positive contribution that Welsh fintech is making and part of the solution to continue to mitigate the devastating impact of Covid-19 and to support a sustainable world future. We work with partners in multiple sectors.
But we cannot assume that people know that such incredible innovations are being developed and delivered from Wales. We need to be louder and prouder to highlight our strengths in the region.
2022 was the best year for my company AAZZUR, but it was also the hardest year, he said. Philip Bushman Founder and CEO of AAZZUR, an embedded finance company.
2022 will in many ways remind us of 2001, where investor expectations collided with dot-com companies. And just like now, the core foundations of better companies continued to improve.
Web 2.0 and even new companies in the digital economy are starting to form, but if you read the news in 2001/2, you will see articles saying that the Internet is a passing fad. Is (for example) really a revolutionary technology?Yes, it is, and yes, it is still in its early stages.
So looking back to 2022 is insightful. There is a mini-repeat of investor-driven washouts in the fintech space, while many companies enjoy growth. , the industry moves in waves, regardless of position or growth.Keep riding.The swell is just beginning.”
Richard Ray is the chief operating officer of Karuta Worldwide, a paytech and global digital payments company. He suggests that fintechs are learning to work more collaboratively with regulators.
Fintech has always held disruption at its core, and is known for moving fast and sometimes disrupting things. Couldn’t keep up with no pace.
This is causing problems, from a runaway BNPL market, to acquirers overcharging merchants, to crypto companies going bankrupt and losing their customers money. We are seeing gradual changes in regulation, including new rules for consumer credit across Europe to cover, PSR to protect merchants, and MiCA to regulate crypto assets.
Fintech companies that previously resisted increased regulation are demanding rules to bring stability and order to markets in the face of a year of uncertainty and turmoil. Mistakes were largely the result of circumventing regulatory due diligence, and we need to learn to work with regulators, not evade them, if we are to continue doing business in the best interest. It’s taught me something about our customers.”
Fintech co-founder and co-CEO Hokodoprovides BNPL solutions to the B2B market, Louis Carbonnier Talk about the importance of being unique.
This year, Houkodo has worked hard to complete its Series B funding. Successful fintech fundraising will, for a time, be much rarer than it has been in recent years.
But one thing that is important to us and other fintechs is that with a unique proposition, enhanced product-market fit, and the right team, it is never impossible to complete a fundraiser even in tough times. It’s not possible.
Another lesson to be learned from 2022 is that the crisis presents opportunities along with more obvious threats. will face some headwinds, including slowing growth in
At the same time, however, our customers want to move more resolutely to digital solutions, e-commerce is gaining momentum compared to offline sales, and offering trade credit to our customers is a global capital investment. Shortages make it a stronger differentiator, demand for our solutions is increasing, and inbound interest has never been higher as a result!
“It’s clear that consumer demand for services like ours is growing.” Lena Hackeroel CEO and Founder of bright paymentis an A2A provider of instant payments and disbursements using open banking.
While this was a big lesson for the year, it also raised the question of what happens next on the road to widespread adoption, she says. In my opinion, now is the time to step up collaboration between fintechs and traditional financial institutions, including banks. As a sector, we need to move from competition to a more effective model of cooperation.
With the rise of A2A payments, 2022 was the year that made it clear how much consumers value convenience. As a sector, we need to recognize that this demand for real-time experiences will not go away.To provide solutions that provide security, convenience, and real-time responsiveness, we need more input from a multitude of stakeholders. Strong collaboration is required.
2022 has reaffirmed the importance of open banking in providing such solutions. It is time to evolve the regulatory framework to improve compliance.
