Fintech has transformed banking as we once knew it, and now fintech-as-a-service (FaaS) is providing financial technology as a service through integrated API-based solutions to a wide market. From processing payments to meeting compliance requirements, FaaS is set to drive coordinated financial innovation further, with no end in sight.

The internet has become an indispensable element in our lives and has also crowned a few behemoths, which control not only a huge chunk of the Web but plenty of user data. As we move into Web 3.0, we can expect to see a more decentralized DLT-based system that gives back to users sovereignty over what is rightfully theirs: their data.

The dust has had time to settle on the much-awaited publication of the Kalifa Report on the  fintech industry. The report, by Ron Kalifa, was conducted on behalf of The City of London Corporation, at the behest of Her Majesty’s Treasury, and could not have come at a more opportune time.

Financial services will always be a target for hackers seeking to gain their hands on lucrative assets. But as the sector continues to digitise, organisations risk increasing the number of entry points for increasingly sophisticated cyber criminals to take advantage.A growing cause for concern is the rise in ‘Shadow IT’, as the adoption of cloud-based services increases.