Yaacov Martin | Source | Co-founder, CEO at Jifiti
Yaacov Martin
Yaacov is the Co-founder and Chief Executive Officer at Jifiti, a leading fintech company bridging the gap between lenders, retailers, and consumers worldwide. He is a thought-leader, panelist, and active contributor to leading payments and fintech publications. Yaacov has experience in entrepreneurship, start-ups, banks &merchants, embedded lending, and business strategy.
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Jifiti
Co-founder, CEO
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Build Consumer Trust With Reputable POS Providers
As shoppers intend to spend more this holiday season than last year, retailers have the opportunity to not only benefit from the increased demand for POS financing and BNPL, but also promote responsible financial decisions that increase customer lifetime value.
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After Apple Bows Out, How Do the Remaining BNPL Players Shake Out?
Apple opted to end Apple Pay Later but to maintain a presence in BNPL by allowing third parties on Apple Pay. Where does this leave the rest of the dedicated buy now, pay later industry?
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AI Failures Can Happen in Financial Decision-Making – What Then?
A couple of years after its initial boom, artificial intelligence (AI) still remains a huge buzzword in the fintech industry, as every firm looks at a new way of integrating the tech into its infrastructure to gain a competitive edge.
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Embedded Finance Revolutionizes Customer Expectations in Banking
Yaacov highlights that customer demand for "convenience, immediacy, and relevance" is driving embedded finance. Traditional banks can compete by leveraging white-labeling. While embedded finance may challenge standalone banking apps, these apps are evolving into financial "super apps." Consumers now expect personalized, real-time financial services integrated into their daily activities, pushing digital banks to innovate. -
Jifiti CEO Predicts Loans as Key Payment Trend in 2023
Yaacov foresees loans from banks becoming a standard payment option across sectors. He identifies regulatory uncertainty as a barrier, urging collaboration between fintechs, banks, and regulators. Yaacov highlights digital wallet lending as transformative, enabling seamless transactions. Jifiti's open banking integration enhances customer experiences by providing secure, real-time financial insights for personalized financing options. -
AI in Lending: Balancing Innovation with Oversight
Yaacov warns that AI failures in lending can impact stakeholders. While AI enhances credit assessments, it risks operating as a "black box," reinforcing biases. He stresses the importance of regulation for transparency and fairness, advocating for human oversight to prevent privacy concerns and unfair outcomes. Financial institutions must prioritize ethical AI implementation to avoid complacency.
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As a by-product of regulatory interest and economic shifts, this is already in motion. The BNPL space was at risk of becoming oversaturated, but since the regulators in many international markets, including the US, UK, Australia and Europe, began to voice their concerns and probe the practices of many fintech players, the market has shifted and contracted. Another related action that will also promote natural selection is the requirement for BNPL providers to report to the credit bureaus. Banks already do this, and some BNPL fintechs do report to some extent, but not enough. Those that don’t comply when this inevitably becomes a requirement will need to adjust their practices to survive.
