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Fintech Insider Podcast by 11:FS
895. News: Industry coalition pushes digital IDs, Phase 2 of Saudi open banking, new Singapore anti-fraud powers
Sep 9, 2024
Dive into the latest fintech developments as experts unravel why less than 15% of Brits know their pension status. Discover how a coalition is teaming up with the UK government to create standardized corporate digital IDs to combat fraud. Singapore's new police powers to halt suspected scam transactions are also on the agenda. Plus, Zilch celebrates a milestone in profitability ahead of their IPO, and innovative fintech solutions like Landian aim to revolutionize the real estate market. Don't miss out on these exciting transformations!
01:04:44
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Quick takeaways
- A significant knowledge gap regarding pensions in the UK highlights that many people are unaware of their pension amounts and saving needs.
- A coalition of banks and regulators is working to standardize digital corporate identities to combat fraud in business transactions.
Deep dives
Public Pension Awareness Gap
A significant knowledge gap exists regarding pensions in the UK, with research revealing that about 25% of Britons are unaware of their pension amounts. This lack of awareness is concerning, especially considering that nearly half the population hasn't set a retirement savings target. Furthermore, many are falling short of the savings necessary for comfortable retirement. This situation is exacerbated by increasing housing costs for retirees, which calls for greater public awareness and proactive financial planning regarding pensions.
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