FinTech Matters newsletter | January 2022

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6 min read

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Read on to discover what really matters for tech in financial services right now for the Erlang ecosystem and beyond.

We’re avoiding any fintech predictions for 2022, because who knows what will happen, right?

Michael Jaiyeola, FinTech Marketing Lead

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The Top Stories Right Now

Lloyds on-site technology is “not fit for purpose” according to their own senior exec, leaked video exposes problems at the bank

A recorded internal meeting made its way to the Mail on Sunday newspaper in the UK and indicates digital transformation to be a major concern at the bank. Nick Williams, group transformation director at Lloyds, is on the call speaking to employees about ‘real concern’ over some legacy infrastructure.

Read the full story

What is it with Amazon x Visa?

Amazon announced back in November that they would stop accepting Visa branded credit cards for purchases in the UK. While the bigger picture is surely more complicated than negotiation leverage over high processing fees and reducing costs, this is still quite an aggressive move. It is more to do with the changing face of online payments and the growth of buy-now-pay-later and (potentially) mainstream acceptance of cryptocurrency. Of course, both the ecommerce/retail and payments industries will be watching how things play out as it will inform decisions by other players down the line.

Read the full story

More content from us

Product Development in Healthtech – we returned to in-person events at Barclays Rise in London recently to present this case study with the team from Trifork, our parent company. [View the Slide Deck]

Complyteq – we were also joined at Rise by CEO and founder Eske Gerup to discuss the latest in digital ID and onboarding technology. [More About Complyteq]

Christmas cheer was in short supply in Ghana’s parliament as things got out of hand during a vote to add a new tax on mobile payments.

[Watch the video]

JPMorgan Chase fined $200 million for conducting business on WhatsApp

This substantial penalty was for a failure to follow US federal record-keeping laws by allowing Wall Street employees to use apps including WhatsApp. Employees also used text messages and personal email accounts to communicate about sensitive business matters. 

[Read the full story]

Erlang Solutions byte size

ElixirConf EU 2022 – Returns as a hybrid event 7-8 April from London and online. Elixir runs on the BEAM VM – the same virtual machine as Erlang – and can be adopted right throughout the tech stack. It’s been used to build the systems at the likes of Klarna, SumUp and Memo Bank. [Find out more]

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Connect with me on LinkedIn

Email: michael.jaiyeola@erlang-solutions.com

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