Amidst the meteoric rise of fintech, a crucial question looms large for consumers and policymakers alike: what are the hidden costs of this digital revolution? The allure of fintech lies in its promise of lower costs and personalized services, but as the industry entrenches itself, unforeseen expenses arise from shadowy corners…
The convenience and accessibility of digital loans often mask high interest rates and fees embedded in complex algorithm-driven pricing. Many users are unaware until saddled with unforeseen financial burdens. This opacity poses significant risks, highlighting a need for more stringent consumer education and transparency. Yet, there’s a subtler cost playing out for all consumers…
Data privacy now finds itself a frontline conflict. With fintech companies holding vast troves of financial data, breaches or misuse could have catastrophic consequences. The conversations around data ownership and cyber security are only intensifying as these risks escalate. Still, the ramifications extend beyond individual consumers…
As fintech firms expand, they often overshadow smaller local enterprises, dictating market dynamics and pushing their profit-driven agendas. This monopolistic dominance can undermine local economic growth, raising a pivotal question: how can technology be harnessed for equitable growth? This is the dilemma that Egypt, along with the global community, must navigate. The conclusions drawn in addressing this challenge will be nothing short of revelatory…