CBX Daily 8/21/2024

Author

Jennifer Matthews
August 21, 2024

Today, the stock market is in a frenzy as fear hits the cap, but let’s start with how fintechs are closing in on the financial gap…

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Cultural Intelligence Download

Fintechs Are Modernizing Banks & Bridging The Financial Inclusion Gap

CBX Vibe

The fintech trajectory has redefined the financial services landscape, forcing traditional banks to rethink their strategies. Once considered outdated relics in a digital age, these banks are now turning to fintech solutions to remain relevant and competitive. With 73% of the world's banking interactions occurring through digital channels, it’s clear that adapting to this shift is not optional but essential.

Stock Market Panic As The Fear Index Soars To Pandemic Peaks

CBX Vibe:

The slowing U.S. economy has now affected a key market sector if the recent stock market changes are anything to go by. The CBOE Volatility Index (VIX), often referred to as the market's fear gauge, peaked to its highest level since pandemic times. Japan's Nikkei held the number one spot of the worst tumble with 12% which hasn't been seen in the last three and a half decades while U.S's Nasdaq followed closely with a 4.8% drop.

Is Investing In AI Fueling The Future Or Just Burning Cash?

CBX Vibe:

The last few days saw many of our beloved tech stocks take a beating. And it’s got people asking: Is the $1.5 trillion capital investment in Generative AI paying off? While AI promises to revolutionize industries by increasing efficiency and unlocking new capabilities, it also raises alarms about the potential displacement of millions of jobs. 40% of global employment is exposed to AI. According to a World Economic Forum report, 85 million jobs could be displaced by 2025 due to automation and AI, while 97 million new roles might emerge.

How HBCUs Are Financially Empowering Their Graduates

CBX Vibe:

Historically Black Colleges and Universities (HBCUs) are more than educational institutions; they're catalysts for empowerment, shaping futures that gleam with promise. HBCUs with the highest payoff in 2024 are leading the charge, with Hampton University, Spelman College and Xavier University of Louisiana. Embracing an HBCU education in 2024 means embracing an opportunity to amplify Black graduates careers and income prospects.

Money Press: Real Price Of Printing Currencies In Other Countries

CBX Vibe:

Missing cash to the tune of $104 million in Liberia is still unaccounted for, after it was printed overseas and passed through the country's main port and airport. With Africa being the fastest growing region for banknote printing and several countries having this process done outside of their borders, should we care where our money is printed?

Vibes of the Week

Fintechs help banks to ”Get Light” as reiterated by Nas. Get into it in our CBX Vibes!