But what is FinTech? Here’s all you need to know…

But what is FinTech? Here’s all you need to know…
Nov 29 2022 Share

An abbreviation for financial technology, FinTech involves new offerings that are not already widely adopted with the potential element of disruption, putting more emphasis on technologically-enabled innovation within the financial services sphere.

Technology-enabled innovation allowed for a wide array of financial products offered today, ranging from contactless payments to cryptocurrency and digital banking. Why is this important as of right now? Well, FinTech is essentially transforming the way financial transactions are being carried out. In fact, we are living in an era dubbed as the “FinTech” Revolution.

A relatively modern phenomenon with origins going back to the late 1800’s, FinTech is diverse from the Digital Finance practices we might already be familiar with.

Digital Finance generally refers to the digitalisation phenomenon happening within the financial sector and encompasses the utilisation of financial services products, services or processes that are allowed via technology-enabled devices and the internet.

However, there are some exciting linking factors:

Firstly, Digital finance refers to a broader spectrum of digitalisation when compared to FinTech within the financial sector.

Furthermore, Digital finance is more linked to well-established digital processes and products, while FinTech focuses on novel products and business processes that may disrupt and challenge the financial sector and that are not already widely adopted.

Put simply, every FinTech product is classified under digital finance, but not all digital finance products may qualify as FinTech.

But why does this matter to consumers? 

One of the biggest benefits of FinTech is the enhanced level of protection innovative technology has to offer. FinTech offers greater transparency and traceability levels due to the increased volume of data collected from end-users.

As a result of FinTech, at the click of a button, customers no longer need to attend physical bank locations to make the simplest of transactions. Who’s got time for that?

It is also a massively inclusive tool as it provides greater access to different financial products and services for consumers. The need for FinTech has only been more highlighted with the COVID-19 pandemic as financial services companies accelerated the shift to digital solutions.

Is there a catch to any of this?

Well, as with everything, there are always things to look out for. But nothing a little planning ahead and awareness can’t possibly fix!

So here’s a quick check-list you might want to refer to when using FinTech services:

  • Always be cognisant that no financial transaction is entirely risk-free.
  • Make sure you confer that you are dealing with reputable and authorised providers and that you understand the product.
  • Also ensure that fees are clearly stated prior to commitment and that you understand the entity’s privacy policy and security practices. These may include everything from what data it collects, how it is processed and protected as well as who is responsible for financial losses.
  • Don’t download an app unless it comes from a trusted source. Read user reviews and do your research beforehand.
  • Monitor your financial account activity regularly so that you can spot any suspicious transactions.
  • Do not use public wi-fi to access your financial accounts.
  • And of course, don’t use the same password you’ve used since you were 15. Make it strong and impenetrable (tip: the weirder and more specific, the better!)


The Malta Financial Services Authority (MFSA) is the single regulator of financial services in Malta, regulating banks, insurance operators, pension schemes and investment services companies, amongst others. While the MFSA’s mission is to ensure market integrity and safeguard Malta’s financial stability, it also has a duty to protect consumers of financial services. It does this mainly through a number of educational campaigns aimed at equipping consumers and investors with the right skills to make informed choices about their personal finances.


Juventus board shockingly resigns en masse amid financial corruption allegations

Juventus board shockingly resigns en masse amid financial corruption allegations
Nov 29 2022 Share

Chaos broke out at Juventus on Monday evening after it was reported that president Andrea Agnelli, vice president Pavel Nedved and the rest of the board resigned by unanimous decision.

The Serie A giant is currently facing a wave of financial issues together with the public prosecution’s investigation into what may very well be accounting fraud. In an email written to Juve employees, Agnelli stated “We are dealing with a delicate moment from a club standpoint.” 

In the meantime, the club’s social media pages have been flooded with comments from fans asking with concern about the board’s sudden resignations.


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Back in September, the club registered a record loss of €254.4 million euros. Following the loss report, Italian government regulator Consob intervened, with the public prosecutor’s office investigating looking into statements of false accounting between 2018 and 2020.

In the midst of a World Cup break for the club, managing director Maurizio Arrivabene will continue to helm administrative duties despite his resignation as the club faces a looming period of transition ahead.


Photo Source: Goal.com

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100 companies in UK sign up for 4-day week with same pay

100 companies in UK sign up for 4-day week with same pay
Nov 29 2022 Share

100 UK companies have signed up for a permanent four-day working week for all their employees with zero loss of pay. 

The 100 companies employ around 2,600 staff, which is a relatively small fraction of the UK’s working population. But the 4 Day Week Campaign group is hoping to continue to push this labour reform.

The two biggest companies that signed up are Atom Bank and global marketing company Awin, who each employ around 450 staff in the country. 

They have been accredited by the 4 day work week campaign, which means that they have shown that they have genuinely reduced hours for workers rather than forcing them into longer days. 

The UK campaign is also currently working on the world’s biggest pilot scheme for around 70 companies, with 3,300 workers, to adopt the 4 day work week in a trial with various researchers. 

88% of these companies reported last September, in the middle of the trial, that the work schedule was working well for business. 95% of the companies surveyed said productivity had either stayed the sam or improved. 

Last year, Finance Minister Clyde Caruana pushed against the idea of a 4-day work week for Malta. He said that worker productivity had to significantly increase before this could be considered. 


Man invades World Cup match to stand up for various human right issues

Nov 28 2022 Share

The World Cup match between Portugal and Uruguay was briefly stopped after a man holding onto a rainbow flag ran across the pitch in what must be one of the bravest pitch invasions ever considering Qatar’s human rights record.

The brave fan, who was eventually caught by security, also wore a Superman shirt which had the words, ‘Save Ukraine’ on the front and ‘Respect for Iranian women’ on the back, two of the most current pressing human rights issues. The referee was seen picking up and removing the rainbow flag once it fell.

Homosexuality is currently illegal in Qatar whose laws operate under the Islamic State Sharia law. There have been countless reports of bad treatment to fans wearing rainbow colours.