Steven Marshall Comments in Fintech Magazine
Published // 30th November 2020
Our Chief Commercial Officer, Steven Marshall, spoke to FinTech Magazine on connected devices and #IoT in finance and the potential impact on #financialinclusion. Find the full issue here: https://www.fintechmagazine.com/issuu?id=1137&startPage=24”
The feature runs from page 24-34, however below are the comments included from Steven:
Page 28: However, even from a non-challenger bank perspective, Marshall makes it clear that CAB has been pursuing greater connectivity both for its security and developmental capacities. “One of the most exciting is our move into biometric payments and security with our new partner, Paycode. Its technology directly addresses the connectivity challenges in Africa and other emerging markets: our goal is to reach 100 million financially excluded individuals in rural Africa and beyond by 2025; making sure that those in remote areas can still access financial services is key to our mission.”
Page 29: For Marshall, financial inclusion through IoT, available both offline and online, signifies the technology’s most transformative potential in modern fintech.
Page 32: “I’ve been working in banking and fintech for the past 20 years, focused on emerging and frontier markets, with previous experience at Standard Chartered, Barclays and The United Nations Migration Agency”
Page 32: Connected devices and IoT clearly have their benefits. However, they also entail a simultaneous increase in threats to cybersecurity. “Any increase in data points increases the challenge to keep that data secure,” states Marshall.
Page 33: Moreover, the move to a ‘cashless’ society, Marshall believes, is a positive development both for individuals and communities, “As digital payment methods evolve and the use of cash declines, there is likely to be an increase in transparency and a reduction in tax avoidance and theft.”