Contextual Solutions Blog

This page is dedicated to our original and curated content about FinTech, digital banking, LegalTech, and innovation.

Open-Source vs. Closed Source-AI: An In-Depth Comparison and Implications from the EU AI Act
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Open-Source vs. Closed Source-AI: An In-Depth Comparison and Implications from the EU AI Act

Recently, the debate between open source and closed source artificial intelligence approaches has intensified. This clash underscores the high stakes and divergent philosophies at play, as both paradigms vie for dominance. Learn more via our blog, which delves into expert opinions and stakeholder insights, comparing the two approaches as well as exploring the implications of the EU AI Act on the future of AI development and open or closed source models.

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Fintech Germany Award Applications – Long List Announced
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Fintech Germany Award Applications – Long List Announced

Since its inception in 2016, the FinTech Germany Award (FTGA) has honored the most pioneering start-ups and scale-ups in the finance sector. The nominations started in May and will end on June 13th, 2024. Read our blog post to learn more about applying for the FTGA and therefore leaving your mark in the German fintech market!

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Exploring the Future of Payments: Key Trends and Innovations in 2024
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Exploring the Future of Payments: Key Trends and Innovations in 2024

The payments landscape is steadily evolving – being constantly shaped by factors such as consumer choice and industry-wide developments. How will it shape in 2024? What are the trends? The "Global Overview of Payment Providers 2024" report by the Paypers offers an insightful exploration into the dynamic shifts and strategic innovations defining the payment industry today. Check out our article to access the report summary we prepared for you.

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Banking Loyalty in Germany: Understanding the Devoted Customer Behaviors
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Banking Loyalty in Germany: Understanding the Devoted Customer Behaviors

This article examines why, despite the availability of various financial institutions from traditional banks to neobanks, German customers exhibit strong loyalty to their primary banks. As established by the recent Yougov research, factors such as trust, perceived effort of switching, and a conservative financial attitude contribute to this phenomenon, highlighting a cultural preference for stability over change in Germany's banking sector. Curious to learn more? Read now.

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Embracing Generative AI in the Payments Industry
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Embracing Generative AI in the Payments Industry

A new report by Visa Consulting and Analytics (VCA) explores the impact of generative AI on the payments industry, outlining payment- specific opportunities to help financial institutions acquire more customers, drive customer engagement, and improve the customer experience for optimal growth. Read our summary to learn more.

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Corporate Leadership: How To Grow Into a Leadership Role?
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Corporate Leadership: How To Grow Into a Leadership Role?

In the third episode of "Bitesized Expertise" by Contextual Solutions, Anne Leslie, a seasoned leader from IBM, delves deep into the essence of leadership. Anne's insights on leadership emphasize that true leaders are recognized not just by their titles or authority but by their ability to inspire and motivate others willingly. Read the article to learn more about corporate leadership and purposeful careers.

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Responsible AI in Financial Markets: CFTC Report Summary
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Responsible AI in Financial Markets: CFTC Report Summary

A new report dated May 2nd, prepared by the Commodity Futures Trading Commission (CFTC) explores the question of responsible artificial intelligence in the context of finance in more depth. It examines definitions and frameworks for responsible AI use, current regulatory environments, and the potential applications and implications of AI within CFTC-regulated entities. How can regulators ensure responsible AI in the financial sector? Read our summary to find out about the five-step responsible AI plan.

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How to Open Doors with Lobbying as a Fintech Company?
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How to Open Doors with Lobbying as a Fintech Company?

Lobbying, an activity often shrouded in misunderstanding and misinterpretation, is how individuals, groups, or organizations attempt to influence the decision-making processes of government officials and regulatory bodies. Lobbying can save tech companies active in regulated sectors, such as Fintech or Healthtech, from future costs, bureaucracy, and legal hassles. How can tech companies utilize the power of lobbying? Find out!

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Artificial Intelligence and the Future of Work - IMF Report Summary
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Artificial Intelligence and the Future of Work - IMF Report Summary

Explore key insights from the IMF's Gen-AI report dated January 2024 on how artificial intelligence is reshaping global labor markets. Uncover the potential of AI to boost productivity, the dual nature of job displacement, and income inequality across advanced, emerging markets, and developing economies. Learn about the necessary preparedness and policy considerations to harness AI's benefits effectively and mitigate its challenges.

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Differentiating Bank Revenue Streams: Exploring the Rise of Lifestyle Banking
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Differentiating Bank Revenue Streams: Exploring the Rise of Lifestyle Banking

Lifestyle banking is becoming increasingly popular with the rise of open banking and AI. As consumers increasingly seek convenience, personalization, and seamless integration into their daily lives, lifestyle banking promises to reshape the future of banking as we know it. What is lifestyle banking? How can banks implement lifestyle service strategies? Read now to learn more!

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EU Warns Finfluencers To Be Careful With Their Investment Advice
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EU Warns Finfluencers To Be Careful With Their Investment Advice

Acting as an unregulated financial advisor can have legal consequences for social media influencers, namely finfluencers, and the firms who use them. In our recent article we dived deeper into finfluencers, their impact on fintech marketing and trust building and the potential impact of the upcoming regulation. Read now to learn more!

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Introducing Bitesized Expertise: A Journey Into Insights With the Contextual Solutions Network
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Introducing Bitesized Expertise: A Journey Into Insights With the Contextual Solutions Network

Bitesized Expertise, our series of livestreamed LinkedIn interviews with experts from across industries kicked off on February 5th, featuring Florian Graillot of astorya.vc. Before we dive deeper into the session and share Florian’s insights on fundraising, insurtech trends and fintech entrepreneurship, please allow us to share why we decided to launch these series.

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Venture Studios in Berlin
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Venture Studios in Berlin

Venture Studios or Company Builders build, finance, and accelerate the growth of startups within their ecosystem to incubate or host lucrative business ideas. Cities like Berlin or London that attract diverse entrepreneurial talent have demonstrated many successful and less successful examples of venture studios since the early 2000s. What are the challenges and opportunities for venture studios nowadays? Let’s find out!

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Payment Licenses in Europe: How To Find the Right Regulator?
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Payment Licenses in Europe: How To Find the Right Regulator?

Obtaining a banking/payment licence in one EU state generally entitles a financial organisation to trade in all the other states. Yet the approval process can vary greatly from one jurisdiction to another. Which one is best? How can you find the right jurisdiction?

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The State of Startup Fundraising: Focus on Europe
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The State of Startup Fundraising: Focus on Europe

Since 2023, the venture capital practice has had its ups and downs, and entrepreneurs are keen to understand what 2024 might bring. We looked into available data to analyze 2023’s venture capital trends and their impact on 2024.

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Contextual Solutions
Berlin, Germany