This has been a year of rapid progress and high expectations for the fintech sector. There's also been lots of buzz ' and hard, painful truths learned. As it turns out, certain trends are more aspirational than practical. Here's what I mean. The cost of developing and maintaining robust AI models is prohibitive for many smaller firms. Additionally, there are ethical concerns regarding biases and privacy preventing widespread deployment in areas like credit scoring or underwriting. For instance, Revolut has introduced AI-enabled budgeting tools, but these mostly categorize expenses instead of adapting dynamically to complex spending behaviors. There's a push for sustainability in fintech ' yet, many firms promote green products without any genuine impact fundamentals. Many hyped-up initiatives ' such as carbon-neutral cards ' fail to live up to their claims and rely on vague metrics. No wonder consumers are skeptical. While some platforms effectively integrate payment and lending...
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