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Brazil’s FinTech Revolution: Paving the Way for a Sustainable, Greener Future




The Emergence of FinTech: Catalyzing Brazil’s Sustainable Economic Growth

Brazil, traditionally renowned for its extraction-based economy fueled by abundant natural resources, is undergoing a significant transition towards sustainability, largely propelled by its burgeoning FinTech sector.

The International Monetary Fund (IMF) recently shared optimistic projections for the Brazilian economy, marking a welcomed development for its citizens and trading partners alike. With falling inflation rates and increasing overseas investments, the IMF has revised its forecasts upwards, attributing a significant portion of this positive outlook to Brazil’s thriving FinTech industry.

Jeremy Baber, CEO of Lanistar, remarked, “Innovation in Brazilian FinTech is flourishing, heralding an exciting era of progress for the nation as it embraces more ethical economic practices, leaving unsustainable ventures behind.”

In 2023, Brazil’s economy expanded by 2.9%, with further growth anticipated at 1.7% this year. The profound impact of FinTech on this sustained growth trajectory cannot be overstated. Overseas investments have propelled Brazil’s FinTech sector to dominance in the wider Latin American (LATAM) market, accounting for a third of all deals across the region.

Brazil’s traditional finance sector, long monopolized by a few major banks, has left a significant portion of the population underserved or unbanked. The advent of FinTech has addressed this gap by introducing innovative solutions such as digital payments, retail investment platforms, and user-friendly challenger banks, meeting the demands of a previously neglected market.

This surge in demand has led to widespread adoption of FinTech services, driving Brazil’s economic evolution. Despite transitioning away from its reliance on extraction-based industries, such as natural resource reserves, Brazil’s economy has remained robust, buoyed by the emergence of FinTech and reduced dependence on unsustainable practices.

Recent data indicates a significant decrease in deforestation levels across Brazil, signaling a departure from its historical reliance on natural resources.

Baber concludes, “Brazil is undergoing an economic evolution, with FinTech at the forefront of this transformation. Positive macroeconomic conditions, growing demand, and increased overseas investment are positioning Brazil as a global FinTech hub.

“Previously unbanked individuals now have access to the latest FinTech solutions, empowering them to manage their finances effectively and embark on new ventures. Moreover, the FinTech revolution is reshaping Brazil’s unsustainable extraction economy, inspiring the younger generation with a progressive economic model. While Brazilian FinTech is still in its nascent stage, the groundwork has been laid for continued growth, driven by the nation’s appetite for seamless financial services.”


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FWD Group pens five-year agreement with AWS to drive innovation




FWD Group, a prominent insurance provider, has unveiled a five-year agreement for technology services with Amazon Web Services (AWS) as part of its cloud-first strategy.

This collaboration aims to bolster FWD Group’s digital infrastructure and capabilities by harnessing AWS’ expertise in cloud and AI technologies to drive innovation and customer-centricity.

AWS will continue to host core business applications for FWD Group, offering enhanced agility, scalability, and resilience as FWD transitions away from operating its own onsite data centers.

Committed to delivering innovative insurance solutions, FWD Group has embraced a digital-first mindset, prioritizing cloud computing as a comprehensive business strategy, seamlessly integrating cloud-based infrastructure and capabilities across its business functions.

With its array of cloud services, encompassing computing power, storage, and AI technologies, AWS underscores its dedication to supporting companies in the financial and insurance sectors to drive digital transformation and elevate customer experiences.

Sandeep Pandey, Group Chief Technology & Operations Officer of FWD Group, affirmed, “At FWD, cloud computing is not just a priority for the technology function but a holistic business strategy. This digital-first mindset has enabled us to establish operational infrastructure and capabilities that are secure, cloud-based, and fully integrated across business functions and with valued partners like AWS. With these foundations in place, we can further scale our generative artificial intelligence (AI) deployment efficiently, effectively, and responsibly, aligning with our vision of transforming perceptions about insurance.”

The adoption of cloud technology has yielded significant benefits to FWD’s software development and deployment processes, resulting in accelerated time-to-market and enhanced customer experiences.

By the conclusion of 2023, an impressive 97% of FWD Group’s applications had completed migration to the cloud, marking a substantial increase from the 27% recorded as of December 31, 2020.

Additionally, 93% of the applications earmarked for retirement have been successfully decommissioned, underscoring the company’s commitment to modernizing its technology infrastructure and optimizing operational efficiency.

Francessca Vasquez, Vice President of Professional Services and Generative Artificial Intelligence Innovation Center at AWS, commented, “AWS has been supporting companies in the financial and insurance sectors worldwide for over a decade, enabling them to better serve their customers with cloud and AI technologies. FWD Group’s ambition to leverage the power of cloud and generative AI underscores their dedication to digital transformation and customer-centricity. We are thrilled to continue supporting FWD Group with AWS’s proven reliability and capabilities, facilitating innovation acceleration, cost savings, efficiency enhancement, and business expansion.”



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Unveiling Key Insights from Day Two of The London Blockchain Conference



As the inaugural London conference continues into day two, attendees heard from industry experts on Reducing Risk & Improving Trust with Blockchain.

LONDON, May 22, 2024 /PRNewswire/ — The London Blockchain Conference continued to captivate attendees with yet another day filled with informative and thought-provoking speakers. The discussions revolved around crucial topics such as regulatory frameworks for Digital Currencies, enabling the growth of blockchain and Blockchain Venture Capital. 

Today we heard from Steven Bartlett, Entrepreneur, Investor and Author of “The Diary of a CEO”, who kickstarted Day 2 with a fireside chat with Mark Lobel from the BBC. He delved into how B2B enterprises can adapt, thrive, and stay ahead in an ever-changing marketplace. The session highlighted the dynamic landscape of B2B interactions in the digital era, exploring innovative strategies, emerging trends, and invaluable insights to empower businesses for success.

Other sessions included:

  • Universal Plastic and Next-Gen Verification: Blockchain, AI, and Social EngagementAlvaro Bravo, CEO of Universal Plastics, discussed how technologies like Blockchain and AI revolutionise verification processes, making them user-friendly and accessible to all and how the Universal Plastic initiative is a prime example of how these technologies can draw corporate interest and promote environmental responsibility.
  • The Role of Governments in Fostering Innovation – A distinguished panel including Dean Armstrong KC from Maitland Chambers, Alun Cairns MP of UK Parliament, Tom Spiller, Legal Director (Rosenblatt), Stefan Kromolicki from APCO, Mayor Hillary Schieve from City of Reno, and Elizaveta Palaznik, Independent Consultant, discussed whether effective policymaking and government intervention can catalyse growth and societal progress or if the market should determine its destiny.
  • Currency of Tomorrow: Navigating the Future of Money – This session featured insights from Amarachi Amaechi, Co-founder at Bitpowr Technologies Inc, Kaj Burchardi, Head of Emerging Technology at Boston Consulting Group, Vincent Mele, Founder at Otranto, Blake O’Donnell, Partner at Punter Southall Law, and Simit Naik, Director, Commercial & Strategy at nChain. They dissected emerging trends, technological innovations, and regulatory dynamics shaping the next era of monetary systems.
  • Navigating the Academic Landscape of Blockchain Research: Opportunities, Challenges, and Collaborative InitiativesAlessio Pagani, Research Director at nChain, dived into the latest blockchain research within academia, examining the opportunities, challenges, and real-world impacts stemming from blockchain innovation in higher education.
  • Monetizing Strategies for Content in Web3 – This session featured Utkarsh Amitabh, CMO, at 5ire, Anuradha Chowdhary, Founder of ZeroTo3 Collective, Tony Mugavero, CEO of Rad, and Sunny Jiang, Founder of MaasDAO, who presented innovative strategies for content creators to thrive in the decentralized, blockchain-powered ecosystem of Web3. They discussed how Web3 technologies can revolutionize content creation economics, enabling them to establish new revenue streams and engage with their audiences in novel ways.
  • Breaking Barriers: Paving the Way for the UK to Emerge as a Global Digital Asset and Emerging Tech Hub – Professor Naseem Naqvi MBE, President of British Blockchain Association, Sean Kiernan, Founder of Greengage, and Marcus Foster, Head of Policy Campaigns at Startup Coalition, dissected the puzzle pieces required for the UK to lead the global tech race.
  • Mining and Transaction Processing: How Mining Will Evolve Post-HalvingJim Niemeijer Partner at Pantheon, Kurt Wuckert Jr, Chief Bitcoin Historian and Co-Founder of GorillaPool, and Jacopo Gil Casas, VP Business Development & Strategy, CS Global Energy explored the upcoming Bitcoin halvening event’s impact on miner profitability. They discussed Bitcoin mining economics, the difference between mining subsidies and transaction fees, and why mining operations need to turn into transaction processors to compete in the future.
  • Block Dojo Global Venture Builder – the audience heard from two lively speakers who demonstrated Blockchain use cases driving value today. The first was Michael Olagunju, CEO of ExamSolutions – the multi-modal AI learning platform. Michael discussed ExamSolution’s unique B2C and enterprise offering for STEM-based learning, via an AI model which captures a student’s responses as they’re written, and offers feedback in real-time. Today, the company is amongst the world’s largest online exam preparation providers, with over 4,000 video tutorials and live streaming support. Next up was Robin Russel, co-founder of Satva Trust – the ClimateDataTech company leveraging blockchain technologies to drive decarbonisation. Satva provides independent data on ship emissions and fuel consumptions, enabling global benchmarking across the world’s fleet in real-time.
  • Best Practices For Enterprise Blockchain Adoption: Tibor Mérey – MD and Partner at Boston Consulting Group – discussed why he remains bullish on Web and Blockchain. Tibor shared lessons from 150+ blockchain and web3 projects BCG has done in the enterprise space. He outlined the four burning questions any blockchain or web3 project needs to answer: i) Does it matter? ii) Will it work? iii) Can we win? iv) Will it grow?

Please register here if you would like to attend or listen to any of the sessions today. 

About the London Blockchain Conference


At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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EFG Hermes acquires minority stake in Kenzi Wealth




EFG Hermes, the premier investment bank in the MENA region, has taken a bold stride into the future of investment management through the acquisition of a minority stake in Danish fintech company, Kenzi Wealth.

This strategic maneuver is poised to transform the way EFG Hermes’ clients engage with their investments, harnessing Kenzi Wealth’s cutting-edge AI-powered asset management technologies.

This newly forged investment and partnership signify a noteworthy milestone in EFG Hermes’ digitalization strategy, heralding a fresh era of investment prospects for clients. By amalgamating EFG Hermes’ extensive client base and acclaimed research prowess with Kenzi Wealth’s innovative AI tools, EFG Hermes aims to offer a more streamlined and personalized investment experience. With AI capabilities at their disposal, investors will gain access to a more sophisticated and tailored approach to managing their portfolios, enabling them to tailor their investment journey to suit their specific needs.

Ahmed Waly, Global Head of Brokerage at EFG Hermes, expressed confidence in the collaboration: “We are excited to collaborate with Kenzi Wealth, a company that shares our dedication to innovation and excellence. This significant move marks EFG Hermes’ entry into the realm of personalized investment tools utilizing state-of-the-art technology, thereby enriching our portfolio of products and services. The integration of our renowned research capabilities with Kenzi Wealth’s advanced AI-powered digital investment tools aligns with our joint vision to introduce a comprehensive and unparalleled end-to-end investment experience, setting a new benchmark in the industry.”

Mohamed El-Masri, Founder and CEO of Kenzi Wealth, echoed this sentiment: “We are pleased to join forces with EFG Hermes to deliver sophisticated investment features to clients, including advanced investment risk analytics, selection, portfolio construction, and rebalancing. This partnership positions us to offer investors innovative tools driven by technology and unparalleled research capabilities.”

A fusion of technology and expertise lies at the heart of this collaboration. As part of the agreement, EFG Hermes will leverage Kenzi Wealth’s technology to enhance its trading platform, EFG Hermes ONE, aiming to integrate research, trading, and portfolio management into a unified platform.

“We are dedicated to empowering our clients with the tools necessary for informed investment decisions and financial goals attainment,” stated Waly. “This partnership represents just the beginning. There are abundant opportunities for further synergies based on EFG Hermes’ ambitious fintech roadmap, aimed at expanding the array of investment products and services in collaboration with Kenzi Wealth.”

The specific terms of the transaction remain undisclosed, underscoring the strategic nature of the collaboration.


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