As banks navigate the world of digital wallets, some are still struggling to properly implement and develop the technology to keep up with competitors. As a result, Mobey Forum, the global industry association empowering banks and other financial institutions, has published a new report offering insights and recommendations.

The paper, titled: Beyond Payments: Navigating the Next Generation of Digital Wallets, introduces a revised definition of digital wallets. It reflects their expanded role beyond financial transactions to managing a broad spectrum of digitised assets and personal data. It delves into the strategic considerations for banks in this rapidly changing environment. Additionally, it emphasises the importance of local champions, eID wallets, open finance, and the critical need for interoperability.

“This report is published at a pivotal moment for the banking sector, as many banks are revisiting their strategic paths. The report emphasises the need for banks to prioritise their digital wallet strategies and embrace collaboration to remain relevant and thrive in the digital age”, says Marina Repo from Nordea, co-chair of the Digital Wallet Expert Group, underscoring the report’s significance.

Elina Mattila, executive director of Mobey Forum, adds: “As the digital finance ecosystem continues to evolve, Mobey Forum remains at the forefront, facilitating crucial dialogues and collaboration among its members. This report highlights our commitment to leading the industry. We want to ensure our members are well-positioned to navigate and capitalise on the opportunities presented by digital wallets.”

The report is a testament to the collective expertise of the Digital Wallet Expert Group, co-chaired by:

• Marina Repo (Nordea)
• Cédric Sieber (Swiss PostFinance)
• Kristian T. Sørensen (Nets eID Solutions)

It reflects a broad spectrum of insights and perspectives from leading industry players.

Remote teams and virtual meetings are commonplace post-Covid. Reviewing meeting recordings for takeaways and action items used to take hours. No more. AI has made this process much easier.

Here are six AI tools for creating meeting notes, to-do lists, and recaps. All offer extensive integrations with meeting platforms, calendars, customer management apps, and more.

Wudpecker

Wudpecker transcribes and summarizes virtual meetings, with takeaways, action items, and recap-reminders of earlier sessions. It can also create an upcoming agenda based on prior activity.

Wudpecker’s AI assistant joins a meeting as a guest to record and take notes. Users can then pose questions to the assistant based on the notes.

The platform offers customized default settings for organizing and formatting notes.

Wudpecker’s free plan records and summarizes 10 meetings per month. Premium plans start at $16 per month and include the Ask Wudpecker feature.

Parrot

Parrot is a virtual meeting assistant that supports multiple languages. It can create instant transcripts, summaries, and highlights. Clicking any highlight produces that part of the recording.

Parrot’s free plan includes five recordings per month and additional features such as screen capturing and summaries. The Pro plan starts at $24 per month, billed annually.

Otter

Otter offers similar AI-driven features — transcripts, notes, highlights — plus automatically adding slides to notes.

It can also summarize multiple notes and create actionable takeaways to email participants.

Otter’s free plan includes access to the Chrome extension and 300 monthly transcription minutes at 30 minutes per meeting. Paid plans start at $16.99 per month per user and offer advanced transcript search and collaboration.

Fireflies

Fireflies is an AI meeting assistant with a robust search to find key parts of a conversation easily. It offers powerful collaboration features, allowing team members to leave comments on the meeting notes, tag one another, and share (via audio) the most memorable moments from a meeting.

Fireflies’ free plan includes the Chrome extension and provides unlimited transcripts but limited AI summaries and 800 minutes of storage. Paid plans start at $18 per month with advanced searching and keyword tracking.

Tactiq

Tactiq is a ChatGPT-driven meeting assistant. The tool provides transcripts, notes, and summaries and composes follow-up emails based on the content. Users can create a knowledge base from the meetings.

Tactiq’s free monthly web plan and Chrome extension include 10 meeting transcriptions and five AI credits for notes, action items, or follow-up emails. Paid plans start at $8 per month.

MeetGeek

MeetGeek creates meeting notes, “next steps,” and color-coded highlights.

MeetGeek’s free web plan and Android app include five transcription hours per month and storage for three months of transcripts and one month of audio files. Paid plans starting at $15 per month provide more storage, among other benefits.

Posts corrected by X’s community-driven fact-checking feature will be “ineligible for revenue share,” to stem the flow of misinformation and sensationalism, says Elon Musk.

In an Oct. 29 X post, the executive chairman said misleading or inaccurate posts “corrected” by Community Notes — manned by X’s crowdsourced fact-checkers will not be eligible for revenue share.

Musk said the change would “maximize the incentive for accuracy over sensationalism” and claimed any attempted weaponization of the feature would be “immediately obvious” as the data is open source.

Making a slight change to creator monetization:

Any posts that are corrected by @CommunityNotes become ineligible for revenue share.

The idea is to maximize the incentive for accuracy over sensationalism.

— Elon Musk (@elonmusk) October 29, 2023

With little information to go on, X users and Crypto Twitter pundits questioned aspects of the change.

“Does that include notes that are added for context [of] the user’s claims rather than correcting false information?” one user asked. The crypto-focused account Bitcoin Archive said some notes add further context and not all are “refutations or corrections.”

Not all community notes are refutations or corrections.

Some just add further context.

— Bitcoin Archive (@BTC_Archive) October 29, 2023

Finance-focused X account “Not Jerome Powell” said Community notes applied to memes “in a funny way” or notes providing context “should be excluded.”

Related: Crypto community tells Elon Musk to dump Satoshi ‘X’ account

Others, however, were supportive of the change. “Pay attention to those who vehemently disagree with this,” wrote Dogecoin (DOGE) co-creator Billy Markus “It’s quite literally people who make a lot of money spreading misinformation.”

X hasn’t shared the number of accounts eligible for monetization nor who makes up its 100,000 contributors in 44 countries, according to an Oct. 26 post from X CEO Linda Yaccarino.

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Additional reporting by Jesse Coghlan.