Cigniti Technologies’ Post

CHANGE🔺DELTAS Embrace Democratic Evolving Technological advancements serve as pivotal deltas—points of change—that profoundly transform societies. From simple tools that streamlined ancient practices to sophisticated algorithms enhancing modern creativity, each innovation not only democratizes access but also reshapes the cultural and social fabric, empowering individuals and redefining traditional roles. The democratization effects of technology, from the transformation of cooking fuel gathering to the advent of modern generative tools like AI in art, present a compelling narrative of how technological advancements fundamentally alter traditional practices and empower individuals in transformative ways. Technologies across epochs—whether they pertain to daily sustenance or digital creation—serve as pivotal catalysts for societal change and empowerment. The evolution of cooking technologies, such as the Franklin stove, reduced the burden of domestic tasks, enabling women historically confined to the hearth and home to explore roles in public and economic life. This shift not only freed up time but also redefined gender roles, contributing significantly to social health and the dynamics within family structures. Similarly, the rise of AI and generative tools in art and content creation democratizes the creative process. By lowering the barriers to entry, these technologies allow a diverse array of voices to participate in cultural and social dialogues, much like cooking technologies allowed for greater female participation beyond traditional domestic confines. Moreover, the links connecting these innovations from different eras is their shared impact on expanding possibilities and redefining societal roles. The printing press, for example, democratized knowledge in the Renaissance by making books more accessible, breaking the monopoly of the literate elite and fostering an informed populace. The Internet later mirrored this impact on a much larger scale by globalizing access to information, enabling social movements and facilitating a more interconnected world. Renewable energy technologies and mobile banking also illustrate this theme of democratization. Renewable energy systems allow communities to generate their own power, reducing dependency on centralized energy monopolies and empowering remote or underserved areas. Similarly, mobile banking has revolutionized financial inclusion, enabling people without access to traditional banks to manage their finances and participate more fully in the economy. Though emerging from vastly different contexts—from cooking fuel to digital platforms— a universal theme of technological empowerment transforms daily life, enhancing social participation, and challenging traditional boundaries. In these ways let’s continue to amplify how we collectively can enhance social health and continue to evolve and define new roles within our dynamic society. __ #TechnoOptimism #CulturalRuliad #Future #Orient

Can AI address inequalities in financial services? 🤔 Nashwa (Joy) Saleh, Independent Non-Executive Director at UBA UK, and one of the fintech experts we had the pleasure of meeting during the Innovate Global Summit 2024 by Innovate Finance, explores this question in a short Q&A session with us! Discover how AI can enhance productivity and the need for reskilling to ensure equality. Need help with AI implementation? Guide your business transformation based on successful real-world implementations of AI in fintech. Click the link to learn more: https://lnkd.in/ghFrARYV  💡 #fintech #ai #inclusion #IFGS24

Interesting insights on the impact of GenAI discussed in the latest issue of Think at London Business School .. key takeaways from this year’s Private Capital Symposium and steps leaders can take to foster belonging by Aharon Cohen-Mohliver and Aneeta Rattan. Also, on how technological innovations are reshaping the future of finance. #GenAI #BusinessImpact #LeadershipInsights

Moreover, fintech is not only about improving efficiency but also fostering inclusivity. By leveraging technology, fintech startups are better equipped to serve underserved populations, including the unbanked and underbanked. Through initiatives promoting financial inclusion, such as offering accessible banking services or providing alternative credit scoring methods, fintech is empowering individuals who have been historically marginalized by traditional financial institutions. Looking ahead, the future of fintech holds immense promise, fueled by advancements in artificial intelligence, predictive analytics, and data-driven marketing. AI-powered chatbots are becoming increasingly prevalent in day-to-day financial interactions, offering personalized assistance and streamlining customer service processes. In conclusion, fintech represents more than just a technological revolution—it's a catalyst for democratizing finance, enhancing efficiency, and driving financial inclusion. As we navigate the regulatory landscape and harness the potential of emerging technologies, the transformative impact of fintech on the future of financial services is undeniable. Embracing this wave of innovation opens doors to a more accessible, transparent, and inclusive financial ecosystem for all. #FintechRevolution #Innovation #FinancialInclusion

In an interview with The Paypers, our co-founder Aleksandra Kjemhus reflects around the AI Strategy Mindset, as well as leadership qualities for the #AI #transformation, tailoring her expertise for leaders in the Regtech and payments sector (however, the leadership qualities are generalizable). Key takeaways: �� AI's transformative role in regtech 🌟 Key leadership traits for success: empathy, curiosity, and a drive to challenge the status quo 💡 Avoiding common leadership pitfalls for long-term success "AI's impact on the regtech industry revolves around its capabilities in searching, structuring, generating, and reasoning with information. This technological revolution is set to fundamentally change how we interact with machines, affecting ultimately all products and processes". #AI #DigitalPayments #Leadership #Strategy #Innovation #BDT

The UK’s FinTech boards play a vital leadership role in driving long-term growth and innovation, according to a new report by EY and Innovate Finance. Titled Setting the pace or keeping up – are FinTech boards future-fit?, the report shows many are missing skills and experience perceived as crucial and boardroom gender diversity continues to challenge. The report comprises market research, roundtable interviews with over 40 FinTech CEOs and Chairs, and a pulse survey conducted with 38 executive and non-executive directors of FinTech firms. Gaps in AI and fundraising skills at board level require attention The findings identify a skills gap within FinTechs, with almost half of survey respondents (47%) claiming their board does not have the requisite level of GenAI expertise. In addition, only 42% believe their board has the necessary skills in fundraising, of which 30% say this is the biggest single gap on their board. However, to help address this, 34% of respondents are in the process of hiring new talent and 21% are engaged in upskilling and training current board members. Gender diversity on UK FinTech boards is lagging The research also finds that the UK’s top 50 FinTechs currently record just 22% female representation on average at board level, falling below the …

SCIENCE AND TECH ROARS | After decades of hypergrowth, fintechs have entered a new era of value creation, where the focus is on sustainable, profitable growth. McKinsey's new report examines how fintechs can win in these disruptive times. Read more: #WinWorldNewsroom #WinWorld #InspiringTheFuture #ScienceAndTechRoars #science #tech #technology #AI #job #skills #strategy #business #balance #digitallife #future #fintech #growth https://lnkd.in/df5RGqr9

As the global #fintech industry expands, it ushers in a blend of opportunities and challenges for the financial services ecosystem. A recent report from the #WorldEconomicForum and the #Cambridge Centre for Alternative Finance*, surveying fintech companies across five retail-facing sectors in six regions, has captured the pulse of this rapidly evolving landscape. https://lnkd.in/duC3SdSU [lnkd.in] 👉 What's particularly interesting is how fintechs are democratizing financial services. They're not just catering to traditional markets but also reaching underserved segments in both advanced economies and emerging markets. This inclusivity is crucial as these segments constitute a significant part of their customer base and transaction volumes. 👉 Looking to the future, Artificial Intelligence emerges as the cornerstone of fintech innovation. With 70% of respondents identifying #AI as the pivotal force shaping the industry in the next five years, its impact spans everything from operational models to customer interaction and regulatory compliance. AI's potential to revolutionize fintech is immense, promising greater efficiency, personalized services, and broader financial inclusivity globally. At the same time, the implementation of AI should be responsible and sustainable, mirroring the approach we take with any other emerging technology. #DellTechEMEA iWork4Dell 

In the realm of FinTech, the creative tension between innovation and regulation unfolds as a mesmerizing duet between a wild, virtuoso violinist and a discerning conductor. The FinTech virtuoso, usually a startup, with its nimble fingers, plays a mesmerizing melody of groundbreaking ideas, reshaping the financial landscape with each stroke of brilliance. It dances on the precipice of risk, pushing boundaries, and daring to explore uncharted territories, much like a violinist improvising in the heart of a concerto. However, it is the conductor, in the form of regulatory frameworks, who tempers this virtuoso's exuberance. With poised gestures, the conductor ensures that the performance remains in harmony, protecting the audience, in this case, consumers and the financial system, from any dissonant notes that might disrupt the symphony. The audience, representing society at large, looks on with anticipation, knowing that the true beauty of this FinTech symphony lies in the interplay between innovation and regulation. When executed with finesse, this dance of the wild virtuoso and the steady conductor results in a breathtaking performance where innovation flourishes without compromising the safety and integrity of the financial stage. It is a testament to the timeless truth that in FinTech, as in music, it is the synergy between the bold innovator and the vigilant regulator that produces a masterpiece, enriching our lives and propelling society forward on a harmonious and prosperous path.

👓🍵 #WeekendReading: #Fintech and digital financial services have been considered game-changers for women's #economicempowerment, however practitioners have limited research that quantifies the degree to which fintech firms are actively addressing women's #financialinclusion and their specific strategies for success. To fill this gap, the IFC - International Finance Corporation conducted a survey of 114 fintech firms in emerging markets around the globe. "Her Fintech Edge: Market Insights for #InclusiveGrowth" found that women still make up a minority of fintech portfolios, with 63% of firms reporting less than a quarter of their portfolios are comprised of WSMES. The report highlights the strong business case for fintech firms to focus on women customers but explains that firms face a dearth of knowledge, research, financial support, and technical assistance to fully capture the women's market. We-Fi launched the #WEFinanceCode in 2023 to fill that gap with collective action, leadership, and sex-disaggregated data so financial institutions around the would can capitalize on the women's market while contributing to greater financial inclusion for #womenentrepreneurs. Read the full report here: https://lnkd.in/ezj6gJPR