Bank of Korea board members saw more interest rate cuts necessary, minutes show
The Bank of Korea kept its benchmark interest rate unchanged at 2.50% at the meeting, but a majority of board members signalled another rate cut in the next three months and warned of "significant" economic uncertainty from U.S. tariffs.
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Finextra
12 minutes ago
- Finextra
Fintech in 2025: The Current Landscape and Future Outlook: By Luigi Wewege
As we approach the third quarter of 2025, fintech is no longer a disruptor on the margins, it has become a cornerstone of the global financial ecosystem. Recent figures from the World Economic Forum (WEF) highlight fintech's remarkable trajectory, with revenues surging by 21% year-over-year in 2024, significantly outpacing traditional banking's modest 6% growth. Profitability among public fintech companies has also markedly improved, with approximately 69% now generating profits, indicating the sector's shift toward sustained, scalable performance. Fintech Funding and Market Performance Global fintech funding remains robust, totaling $24 billion across nearly 2,600 deals in the first half of 2025, a 6% increase from the previous period, according to Innovate Finance. While markets in Asia and Europe thrive, the UK's fintech investment plateaued, suggesting regional variations in market dynamics. Notably, public markets reflect renewed investor confidence, exemplified by fintech giants like Coinbase entering the S&P 500 and eToro's successful IPO, raising over $600 million. Additionally, Barron's highlights SoFi's outstanding performance, with a 44% revenue increase and record loan originations, underscoring fintech's resilience and growth potential. Drivers of Fintech Growth The AI Revolution AI, particularly generative and agentic AI, is transforming fintech operations. From automating compliance processes and customer interactions to enhancing fraud detection, AI's integration into fintech operations is profound. India's fintech sector, leveraging AI to accelerate KYC processes and customer engagement, exemplifies this trend. Additionally, research into human-centered AI, prioritizing user experience alongside efficiency, is reshaping fintech's approach to innovation. Embedded Finance and Digital Infrastructure Embedded finance has become central to fintech's expansion, with financial services increasingly integrated invisibly into non-financial platforms. Real-time payments, automated invoicing, and B2B financial services are areas witnessing substantial growth. BCG's analysis confirms this shift, predicting significant expansion in fintech infrastructure and lending services, while consumer-focused fintech begins to saturate. Open Finance and Regulatory Evolution Open finance is rapidly gaining momentum globally, driven by new regulatory frameworks such as the EU's Financial Data Access (FIDA) and PSD3 updates. These changes extend data sharing to broader financial products beyond basic banking. However, tensions persist, notably in the US, where JPMorgan's proposed charges for data access via APIs raise significant concerns, potentially disrupting fintech innovation dependent on open data models. Crypto and Digital Assets Cryptocurrency and stablecoin adoption continue to grow, attracting substantial institutional investment. Fintech hubs such as Hong Kong have seen notable funding influxes, driven by increasing stablecoin licensing and investment enthusiasm. Yet, ongoing regulatory scrutiny underscores the complexity fintech faces in balancing innovation and compliance. Cybersecurity and Trust The fintech sector's growth brings heightened cybersecurity risks, demanding robust defensive strategies. Advances in blockchain-based zero-trust architectures and enhanced API security are becoming industry standards. Fintech companies emphasizing comprehensive cybersecurity frameworks will emerge as trusted, resilient leaders in the marketplace. The Road Ahead: Challenges and Opportunities As we enter Q3 2025, fintech stands at a pivotal juncture marked by accelerating innovation and escalating complexity. While scalability and profitability have significantly improved, regulatory challenges and market pressures remain substantial. In the immediate future, fintech is expected to undergo further consolidation through mergers and acquisitions, particularly targeting companies offering innovative financial infrastructure. The embedding of financial services in non-financial platforms will become standard, redefining customer journeys and creating new revenue streams. AI-driven automation and decision-making will increasingly permeate fintech services, elevating efficiency but requiring careful oversight to maintain trust. Simultaneously, regulatory frameworks will evolve, demanding fintech firms adapt to stringent standards without compromising innovation. Thoughts on What is Coming Looking toward the close of 2025 and beyond, fintech's future success hinges on navigating regulatory uncertainties, optimizing embedded financial services, harnessing AI responsibly, and prioritizing cybersecurity. Companies able to balance innovation with operational excellence and regulatory compliance will dominate the fintech landscape, shaping the financial services sector profoundly in the coming years. About the author: Luigi Wewege is President of Caye International Bank, awarded as one of the leading banks in the Caribbean and Central America. During his tenure at the bank, Luigi has been recognized for his turnaround efforts at Caye, growing it into the largest international bank in Belize by total deposit size. He is a regular speaker and contributor for several media publications. He is an accomplished multi-publication author, including The Digital Banking Revolution (now in its third edition). Wewege has co-authored economic research presented before the United States Congress and has been published in The Journal of Applied Finance & Banking. Outside of the bank, Luigi serves as an Instructor for the FinTech School in California and sits on multiple international advisory boards. Wewege earned an MBA in International Business from the MIB Trieste School of Management in Italy and a Bachelor's Degree in Business with honors from the University of Missouri-St. Louis with a triple major in Finance, International Business, and Management.
Sky News
an hour ago
- Sky News
Tech companies are racing to make their products smaller - and much, much thinner
Some of the world's leading tech companies are betting big on very small innovations. Last week, Samsung released its Galaxy Z Fold 7 which - when open - has a thickness of just 4.2mm, one of the slimmest folding phones ever to hit the market. And Honor, a spin-off from Chinese smartphone company Huawei, will soon ship its latest foldable - the slimmest in the world. Its new Honor Magic V5 model is only 8.8mm thick when folded, and a mere 4.1mm when open. Apple is also expected to release a foldable in the second half of next year, according to a note by analysts at JPMorgan published this week. The race to miniaturise technology is speeding up, the ultimate prize being the next evolution in consumer devices. Whether it be wearable devices, such as smartglasses, watches, rings or foldables - there is enormous market potential for any manufacturer that can make its products small enough. Despite being thinner than its predecessor, Honor claims its Magic V5 also offers significant improvements to battery life, processing power, and camera capabilities. Hope Cao, a product expert at Honor told Sky News the progress was "due largely to our silicon carbon battery technology". These batteries are a next-generation breakthrough that offers higher energy density compared to traditional lithium-ion batteries, and are becoming more common in consumer devices. Honor also told Sky News it had used its own AI model "to precisely test and find the optimum design, which was both the slimmest, as well as, the most durable." However, research and development into miniaturisation goes well beyond just folding phones. A company that's been at the forefront of developing augmented reality (AR) glasses, Xreal, was one of the first to release a viable pair to the consumer market. Xreal's Ralph Jodice told Sky News "one of our biggest engineering challenges is shrinking powerful augmented reality technology into a form factor that looks and feels like everyday sunglasses". Xreal's specs can display images on the lenses like something out of a sci-fi movie - allowing the wearer to connect most USB-C compatible devices such as phones, laptops and handheld consoles to an IMAX-sized screen anywhere they go. Experts at The Metaverse Society suggest prices of these wearable devices could be lowered by shifting the burden of computing from the headset to a mobile phone or computer, whose battery and processor would power the glasses via a cable. However, despite the daunting challenge, companies are doubling down on research and making leaps in the area. Social media giant Meta is also vying for dominance in the miniature market. Meta's Ray-Ban sunglasses (to which they recently added an Oakley range), cannot project images on the lenses like the pair from Xreal - instead they can capture photos, footage and sound. When connected to a smartphone they can even use your phone's 5G connection to ask Meta's AI what you're looking at, and ask how to save a particular type of houseplant for example. Gareth Sutcliffe, a tech and media analyst at Enders Analysis, tells Sky News wearables "are a green field opportunity for Meta and Google" to capture a market of "hundreds of millions of users if these devices sell at similar rates to mobile phones". Li-Chen Miller, Meta's vice president of product and wearables, recently said: "You'd be hard-pressed to find a more interesting engineering problem in the company than the one that's at the intersection of these two dynamics, building glasses [with onboard technology] that people are comfortable wearing on their faces for extended periods of time ... and willing to wear them around friends, family, and others nearby." Mr Sutcliffe points out that "Meta's R&D spend on wearables looks extraordinary in the context of limited sales now, but should the category explode in popularity, it will be seen as a great strategic bet." Facebook founder Mark Zuckerberg's long-term aim is to combine the abilities of both Xreal and the Ray-Bans into a fully functioning pair of smartglasses, capable of capturing content, as well as display graphics onscreen. However, despite recently showcasing a prototype model, the company was at pains to point out that it was still far from ready for the consumer market. This race is a marathon not a sprint - or as Sutcliffe tells Sky News "a decade-long slog" - but 17 years after the release of the first iPhone, people are beginning to wonder what will replace it - and it could well be a pair of glasses.
Auto Blog
3 hours ago
- Auto Blog
Hyundai Offers Killer 2026 Santa Fe Lease Deal for August
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Macan will return with gas power, only it won't be the Macan at all. The boxy-good and high-tech Santa Fe is one of the most appealing mid-size SUVs around The 2026 Hyundai Santa Fe looks like the South Korean brand took a 2016 Land Rover LR4 and created its own, fresher, and more attractive version. Fully redesigned last year, the Santa Fe departs completely from its sleeker predecessor in favor of a more upright and boxy look. With sharply defined fender arches, distinctive H-pattern headlights and taillights reminiscent of Minecraft blocks, an extra-wide tailgate, and a confidently boxy silhouette, the Santa Fe delivered one of the boldest and most original designs in recent memory. It's now the brand's second best-selling SUV (behind the Tucson) and third best-selling vehicle (the Elantra takes the #2 spot). The competition in the midsize SUV segment is fierce, and the Santa Fe's bold design and airy cabin stand out in a field that's packed with competitors like the Honda CR-V, Toyota RAV4, Nissan Rogue, Subaru Forester, Kia Sorento, and Mazda CX-5. The fifth-generation Santa Fe is easily the boxiest in the set, and it's the only one to offer a standard third row. It has space galore, brilliant storage, cutting-edge in-car technology, and some of the best standard features in the industry. The August lease deal makes it even more appealing. 2026 Hyundai Santa Fe lease deal for July Source: Hyundai August is a great time to get into a new Santa Fe SE with a lease deal at $349 per month for 36 months. $3,999 due at least signing, which includes the first $349 monthly payment and $3,650 capitalized cost reduction. No security deposit is required. Does not include registration, tax, title, license, processing or documentation fees, insurance, or any emission charge. The mileage limit is 10,000 miles per year. A $400 disposition fee is due at the end of the lease (except for CO, IN, IA, KS, ME, OK, SC, WI, WV, & WY, where the disposition fee is subject to the limitations of state laws). Not all lessees will qualify, and higher rates may apply for those with lower credit scores. Lease offer ends September 2, 2025. Learn more here. 2026 Hyundai Santa Fe SE feature highlights The Hyundai Santa Fe SE is the base model in the lineup. It features a 2.5-liter turbocharged four-cylinder engine that delivers 277 horsepower and 311 lb-ft of torque. It comes in front-wheel drive or optional all-wheel drive, using an 8-speed automatic transmission. EPA estimates are 20 city, 29 highway, and 24 combined with front wheel drive. All-wheel drive drops a smidge with 20, 28, and 23, respectively. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Standard features on the SE include 18-inch alloy wheels, 235/60 R18 all-season tires, LED headlights and DRLs, LED taillights, automatic headlights, heated side mirrors, a handsfree smart liftgate with auto open, proximity key, power lumbar driver's seat, power folding rear seats, a 12.3-inch infotainment touchscreen with OTA updates, a 4.2-inch driver information display, wireless Apple CarPlay/Android Auto, and a proximity key with push button start. Source: Hyundai The robust set of standard safety features includes blind spot collision warning, rear cross-traffic avoidance assist, parking distance warning, forward collision avoidance assist with pedestrian/cyclist/junction turning detection, adaptive cruise control with stop & go, lane keeping assist, driver attention warning, safe exit assist, and lane following assist. The Santa Fe also earned the IIHS Top Safety Pick+ for 2025, a remarkable achievement given the rigorous testing and high standards required to earn the title. The Santa Fe's total passenger volume is 166.6 cubic feet, and the second row provides a truly spacious 42.3 inches of second-row legroom, while the third row offers 30 inches of legroom. The cargo area provides 14.6 cubic feet behind row three, 40.5 cubic feet of space behind the second row, and 79.6 cubic feet with the second and third rows folded flat. Final thoughts Source: Hyundai The 2026 Hyundai Santa Fe is one of the most original SUVs on the road today. It offers tremendous versatility with its lounge-like rear section and wide liftgate. Great standard features on the base model, such as a wireless device charger, adaptive cruise control, and a 12.3-inch color touchscreen, are great examples of how much value Hyundai bakes into its vehicles. With three rows of roomy seating, the Santa Fe can accommodate big families without any trouble, and it does so in style. The very affordable monthly lease payment makes it even more attractive in the month of August. Before signing the lease agreement, be aware of the costs due at signing, including taxes and registration fees, etc. Read the lease agreement carefully and inquire about potential additional costs at the dealership. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Amos Kwon View Profile
