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Presidential election in Guinea-Bissau sees rivals Embalo and Dias both claim victory | Elections Update

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Conflicting claims come before the release of official results by the country’s electoral commission.

The two leading candidates in Guinea-Bissau’s presidential election – incumbent Umaro Sissoco Embalo and main challenger Fernando Dias – have both declared victory before the release of official results.

Both campaigns had claimed on Monday that their contender exceeded the 50 percent threshold needed to win outright, eliminating the need for a run-off.

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“We have won the presidential race. We will not have a second round,” Dias told supporters in the capital, Bissau, adding that people were “tired” and wanted change.

Hours later, Embalo’s campaign spokesperson Oscar Barbosa also claimed the president had won outright, insisting there would be no run-off and calling on rivals to avoid making claims that undermine the electoral process.

There was no immediate comment by the National Electoral Commission, which is expected to announce provisional results on Thursday, regarding the conflicting claims.

Twelve candidates competed in Sunday’s poll that saw a turnout of more than 65 percent.

The African Party for the Independence of Guinea and Cape Verde (PAIGC), the movement that led the fight against Portuguese colonial rule, was barred from fielding a candidate for the first time.

The party endorsed Dias, boosting his campaign, especially after former Prime Minister Domingos Simoes Pereira, the PAIGC leader, backed him. The 47-year-old is standing with the Party for Social Renewal.

Embalo, 53, is a former army general who served as prime minister from 2016 to 2018. He is seeking to become Guinea-Bissau’s first president in 30 years to win a second term.

Opposition parties argue that Embalo’s mandate should have ended earlier this year. The Supreme Court ruled that his term should run until early September, but the election was pushed back to November.

Embalo dissolved parliament, which was controlled by the opposition after the 2019 and 2023 legislative elections, and has not allowed it to sit since December 2023.

Guinea-Bissau has experienced repeated coups and attempted coups since its independence more than 50 years ago, and remains one of the world’s poorest countries, with half the population living in poverty, according to the World Bank.

More than 200 international observers were in the country to monitor the electoral process, including from the West African regional bloc ECOWAS, the African Union and the community of Portuguese-speaking countries.

UK dance music artist Sonique signs catalog deal with Armada

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Amsterdam-headquartered independent dance music label Armada Music says it has acquired the catalog of Grammy-nominated British singer, songwriter and DJ Sonique.

Under the deal, Armada Music said it will hold the worldwide rights to Sonique’s “entire catalog” of songs, including her hit single It Feels So Good, which reached No. 1 in the UK and No. 8 on the Billboard Hot 100, the company announced Friday (November 21).

Originally released in the UK in 1998, It Feels So Good also gained momentum from US radio, resulting in a re-release in May 2000. It then reached No. 1 on the UK Singles Chart for three week and was the third-biggest-selling single in the UK in 2000. The track also reached No. 8 on the Billboard Hot 100, and earned Sonique an Ivor Novello Award and the BRIT Award for Best British Female in 2001.

The song was featured last year in a rework by Matt Sassari and HUGEL, which has already topped 130 million Spotify streams in 11 months. Another hit single, Sky, peaked at No. 2 on the UK Singles Chart.

Sonique first gained prominence as the lead vocalist of electronic dance group S’Express in the late 1980s before going on a solo career. Last year, she performed a sold-out London’s Royal Festival Hall headline show with a full band, strings and choir. The same year, she performed at the Glastonbury’s Silver Hayes stage for the first time and joined Pete Tong’s Ibiza Classics arena tour.

“Her music has left an indelible mark on dance culture, and we are committed to nurturing and elevating her legacy for a new generation of fans while continuing to engage her dedicated base worldwide.”

Maykel Piron, Armada Music Group

Commenting on the deal, Maykel Piron, CEO and Co-Founder of Armada Music Group, said: “We are incredibly excited to welcome Sonique’s phenomenal catalog to the Armada Music family.

“Her music has left an indelible mark on dance culture, and we are committed to nurturing and elevating her legacy for a new generation of fans while continuing to engage her dedicated base worldwide.

“This long-term partnership reflects our belief in the enduring power and potential of her incredible body of work.”

Sonique added: “Signing with Armada Music feels like the perfect next step in my journey. It’s a chance to honor the songs and moments that shaped my career while also opening the door to new music.”

“Signing with Armada Music feels like the perfect next step in my journey. It’s a chance to honor the songs and moments that shaped my career while also opening the door to new music.”

Sonique

Added Sonique: “I’m proud to have a label with such a powerful dance heritage supporting both my catalogue and my future, and I feel energized, inspired, and ready for what’s ahead.”

The deal comes as Armada Music has grown its catalog to over 50,000 tracks in the dance music industry. It represents artists like Armin van Buuren, ARTY, D.O.D, Eelke Kleijn, Jan Blomqvist, Joris Voorn, KI/KI, Lilly Palmer, Loud Luxury, Sunnery James & Ryan Marciano, THEMBA and Yulia Niko.

Armada Music Group also operates as the parent company for its music rights investment vehicle, BEAT Music Fund, launched in 2023 and described as “the first-ever dance investment fund.”

The company tells us that the Sonique deal was struck via Armada directly, rather than the BEAT Music Fund.

In September, BEAT acquired the entire master rights catalog of Netherlands-headquartered Mixmash Records including hits like Show Me Love by Steve Angello and Laidback Luke feat. Robin S (169 million streams) and Turbulence by Steve Aoki and Laidback Luke feat. Lil Jon (40 million streams).

In March, the fund acquired the rights to “a large portion” of masters from Tiga, a DJ, producer, and founder of Turbo Recordings. The deal includes rights to some of Tiga‘s most streamed tracks, including the hit Sunglasses at NightBugatti, and You Gonna Want Me, Let’s Go Dancing, and HAL ft. Kölsch. The tracks have collectively amassed over 33 million Spotify streams.

Last year, BEAT acquired the catalogs of Kevin SaundersonMarkus Schulz, and Robbie Rivera. The deal with techno pioneer Saunderson saw BEAT acquire artist shares from a portion of Sanderson’s Inner City catalog.

Music Business Worldwide

Minister raises concerns over visa ‘abuse’ amid increase in student asylum claims

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UK’s Indo-Pacific Minister Seema Malhotra has defended her government’s immigration proposals during a visit to India, while expressing concern about a rise in foreign students seeking asylum at the end of their studies.

Under the new plans, some migrants could have to wait up to 20 years before they can settle permanently in the UK and the qualifying period for indefinite leave to remain will be extended from five to 10 years.

The proposals will apply to an estimated 2.6 million people who arrived in the country since 2021. They have drawn criticism from some quarters, including a few Labour MPs, even though the Conservatives gave the measures a cautious welcome.

The reforms are “in line with what countries around the world do” to stop the abuse of their immigration systems, Malhotra told the BBC in the southern Indian city of Chennai, adding that there was a “very strong message we also send, which is that we welcome those coming legally”.

According to Malhotra some16,000 international students from across the world had applied for asylum in the UK last year after completing their courses, which she said was evidence of abuse of legal migration routes.

A further 14,800 students sought asylum this year to June 2025, latest Home Office figures show. It is unclear how many of them are Indian nationals.

“We’ve seen visa abuse in the case of legal routes, where people have gone legally and then sought to overstay when their visas weren’t extended,” Malhotra said.

“If you see that level of abuse, it undermines your immigration system. It undermines public confidence, and the fairness and control people expect.”

India remains one of the UK’s biggest sources of international students, but demand is cooling.

The number of Indian students heading to the UK has fallen 11% from last year as tougher immigration rules kick in. This has triggered concern among UK universities which rely on foreign students and are already under financial strain.

According to the Migration Observatory at the University of Oxford, India was the top country of origin for foreign students in the UK in 2023-2024, making up 25% of arrivals. China followed at 23% while Nigeria made up 8%.

Malhotra said while Britain still “very much welcomes” Indian students, her government was working with universities to ensure they are genuine foreign students.

She said the recently concluded free trade agreement (FTA) between the UK and India had also encouraged UK universities to open local campuses in India, with Liverpool University announcing it will open a campus in Bengaluru city in 2026 last week.

The FTA, signed in July after years of negotiations, is forecast to boost the UK’s GDP by £4.8bn annually and expand bilateral trade between the two countries by £25.5bn.

As part of the education chapter in the deal, nine UK universities have been cleared to set up campuses across India.

However, these wider trade ambitions face a domestic political climate that has hardened around migration.

During a visit to India in October, Sir Keir Starmer said the UK would not relax visa rules for Indian nationals despite Delhi’s long-standing push for easier mobility in return for trade concessions.

Malhotra rejected the idea that Britain wants deeper trade while shutting the door to Indian professionals, citing the nearly half-a-million visas granted to Indian nationals last year across work, study and visitor categories.

The UK is moving towards a “contribution-based” immigration system, where settlement and long-term stay depend on a person’s economic contribution rather than the length of time they have lived in the country, Malhotra said.

The government’s proposal to overhaul the UK’s immigration system is part of a broader attempt to show firmer control over borders, but has drawn criticism from some Labour MPs and members of the House of Lords, particularly over their potential impact on international recruitment in sectors like healthcare and social care.

While the reforms are still under consultation, Malhotra, when asked about settlement routes for migrant professionals like nurses and care workers said, “we are expanding routes for those with skills in areas that the UK requires”.

A survey by the Royal College of Nursing (RCN) had warned that up to 50,000 nurses could leave the UK if the government went ahead with its immigration proposals.

The report notes that the UK now has more than 200,000 internationally educated nursing staff, making up around 25% of the country’s total nursing workforce of 794,000.

A significant number of these nurses and care workers are from India. Several investigations, including by the BBC, have shown that many of them have fallen prey to cross-border visa scams and lost hundreds of thousands of pounds.

But Malhotra said the UK was ramping up efforts to protect people from such exploitation and working with law enforcement agencies of countries like India to share intelligence and crack down on such gangs.

Follow BBC News India on Instagram, YouTube, Twitter and Facebook.

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Viola Ford Fletcher, a survivor of the 1921 Tulsa Massacre, passes away at the age of 111 | Obituary Report

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Fletcher fought for greater recognition of one of the deadliest incidents of race violence in US history.

Viola Ford Fletcher, one of the last survivors of Oklahoma’s 1921 Tulsa Massacre, has died at age 111.

Despite her advanced age, Fletcher was a well-known activist thanks to her work trying to win justice for the victims of one of the worst episodes of racial violence in United States history.

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“Today, our city mourns the loss of Mother Viola Fletcher. She was a survivor of one of the darkest chapters in our city’s history and endured more than anyone should,” Tulsa Mayor Monroe Nichols wrote in a Facebook post. “Mother Fletcher carried 111 years of truth, resilience, and grace and was a reminder of how far we’ve come and how far we must still go.”

Fletcher was seven years old at the time of the Tulsa Massacre in Oklahoma, a state living under the Jim Crow system that segregated the US South from the end of the 1800s until the Civil Rights Movement of the 1960s.

The massacre began on May 31, 1921, when police arrested 19-year-old Dick Rowland, a Black shoeshiner, over allegations that he had assaulted a white woman, according to a report by the US Justice Department’s Civil Rights Division.

When a group of white men gathered at the courthouse calling for Rowland to be lynched, a group of Black men from a nearby community responded and tried to protect him before “all hell broke out”, the report said.

Over the next two days, vigilante groups and law enforcement looted and burned down 35 blocks of Tulsa’s Greenwood District, which was then home to one of the wealthiest Black communities in the US. The Bureau of Labour Statistics in 2024 estimated that the scale of the damage was around $32.2m when adjusted for inflation.

As many as 300 residents of Tulsa were killed and another 700 injured, the report said, although the final tally is unknown because many were buried in unmarked graves.

Survivors like Fletcher and her family were forced to leave the area. Left destitute, her family became sharecroppers, a form of subsistence work where farmers give over almost all their harvest to their landlord.

Rowland was never charged, after Sarah Page, the lift operator he was accused of assaulting, said that she did not want to prosecute the case.

Despite the scale of devastation, the Tulsa Massacre received limited national attention until Oklahoma state launched an investigative commission in 1997. Efforts to win compensation for victims in 2001, however, failed due to the statute of limitations.

On the centennial anniversary of the massacre, Fletcher testified before the US Congress in 2021 about her experiences and co-authored a memoir, Don’t Let Them Bury My Story, with her grandson in 2023.

Fletcher was mourned by US leaders like former President Barack Obama.

“As a survivor of the Tulsa Race Massacre, Viola Ford Fletcher bravely shared her story so that we’d never forget this painful part of our history. Michelle and I are grateful for her lifelong work to advance civil rights, and send our love to her family,” Obama posted on X.

European car sales increased by 4.9% in October, according to ACEA

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European car sales rise 4.9% in October, ACEA says

Li Zheng Dominates Seven Events, Achieves Eight Personal Bests at Carmel Swim Club Fall Frenzy

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By Jake Bridges on SwimSwam

Carmel Swim Club Fall Frenzy

  • November 7th to November 9th, 2025
  • Carmel High School, Carmel, Indiana
  • Short Course Yards (SCY)
  • Results can be found on MeetMobile: “2025 CSC Fall Frenzy”

 

Carmel Swim Club’s Yi Zheng became the fastest 15-16 year-old boy in the country this season in multiple events earlier this November in Carmel, leaving his stamp on the meet with seven event wins and eight personal bests.

Zheng’s best swims came in the 200 breast and 400 IM. He clocked a winning time of 1:56.44 in the 200 breast, a personal best of 2.1 seconds. The swim made him the fastest 15-16 year-old boy in the event this year, and the 19th fastest in history.

His 400 IM propelled him even farther up the all-time rankings. He produced a time of 3:45.67, a 5.55 second improvement on his lifetime best. The time makes the Stanford commit the fastest 15-16 year-old boy this season and the 11th fastest of all-time.

Zheng also swam top-five times this season in three other events, clocking significant personal bests in all of them. He clocked a winning time of 4:24.53 in the boys’ 15 & over 500 free, registered 1:45.30 to win the 200 fly, and took victory in the 200 IM in a time of 1:46.46. In that order, those times rank Zheng 4th, 3rd, and 2nd in the nation this year.

Zheng won two more events at the meet. He took first in the 200 free (1:37.90) and the 200 back (1:48.13). He dropped 3.89 seconds from his lifetime best in the 200 free and 5.48 seconds in the 200 back, which was the only event Zheng won where he didn’t earn a Winter Juniors cut.

The only swimmer who was able to defeat Zheng in head-to-head competition was Central Ohio Aquatics’ and future Texas Longhorn Austin Carpenter. The two swimmers met in the boys’ 15 & over 100 free, which the 17-year-old Carpenter won in a time of 44.67, the 59th fastest swim by a 17-18 year-old this season. Zheng touched the wall shortly after in a time of 45.03, a personal best of over two seconds.

Carpenter also took victory in the boys’ 15 & over 100 breast, registering a time of 54.45, the 21st fastest time by a 17-18 year-old boy this season. Lakeside Swim Team’s Wilson York placed second in the event, clocking 54.56 and coming within seven one-hundredths of his lifetime best. Both his personal best and time swum in the event make him the 2nd fastest 15-16 year-old boy in the nation this year.

Olympic Silver Medalist Alex Shackell was present at the meet, and registered five dominant victories. The Indiana commit swam in and won the 100 free (47.90), the 100 fly (51.15), 200 fly (1:51.59), 200 IM (1:57.74), and 400 IM (4:07.88). Shackell’s time in the 100 free was the fastest she has ever been in November. In the other events, she was either on par with or slightly slower than her times from the previous Fall Frenzys.

Shackell will begin her college career at Indiana University this upcoming spring, though she will continue to train at Carmel.

Lakeside Swim Team’s Charlotte Crush took four victories in the girls’ 17-18 category. The Tennessee commit took first in the 50 free (22.55), 200 free (1:47.55), 100 back (51.27), and 200 back (1:52.46). Crush is the 5th fastest 17-18 girls’ 100 backstroker in history, and is ranked 1st and 2nd in her age group this year in the 100 and 200 back, respectively.

15-year-old Ellie Clark placed second to Crush in the 100 and 200 back, but registered impressive times in both. Her time of 53.77 in the 100 ranks her 6th in the nation this year. In the 200, the Carmel Swim Club swimmer clocked a time of 1:55.23, making her the 5th fastest 15-16 year-old in the event this season.

Carmel Swim Club’s Linrui An had a strong meet in the boys’ 13-14 age group. The 14-year-old won four events: he clocked 1:45.32 in the 200 free, 1:57.18 in the 200 back, 1:57.10 in the 200 IM, and 4:07.40 in the 400 IM. Each time was a personal best that pushed him farther up this season’s event rankings. In the boys’ 13-14 age group, An is now ranked 32nd in the 200 free, 36th in the 200 back, 23rd in the 200 IM, and 14th in the 400 IM.

The girls’ 13-14 category was dominated by just two swimmers, Lakeside Swim Team’s Lana Shapero and Carmel Swim Club’s Kate Allen, who combined to win nine events.

Shapero led the pair in wins, with the 14-year-old taking first in five events. She won the girls’ 13-14 100 back (57.43), 200 back (2:06.63), 100 fly (56.49), 200 fly (2:05.31), and 400 IM (4:36.70).

Allen closely followed Shapero, registering four first-place finishes and three personal bests. She swept the girls’ 13-14 freestyle events, winning the 50 (24.11), 100 (51.29), 200 (1:51.67), and 500 (4:58.41). The 13-year-old dropped 2.56 seconds from her lifetime best in the 100, 4.01 seconds in the 200, and 12.70 seconds in the 500.

 

Other Notable Performances

  • Central Ohio Aquatics’ Dane Schauer took first in four events: the boys’ 11-12 50 free (24.66), 50 breast (31.76), 100 breast (1:11.89), and 100 fly (59.53). Schauer registered significant personal bests in each event, particularly the 100 fly, where he dropped over nine seconds.
  • Center Grove Aquatics Club’s Matthew Caudros earned a Winter Juniors cut in the 100 breast. The 15-year-old clocked 55.26 in the event to take 4th in the 15 & over category, making him the 6th fastest swimmer in his age group this season.
  • Tri-West Swim Club’s Collins Peachee took first in five events in the girls’ 10 & under category: she won the 50 free (29.88), 200 free (2:13.81), 50 back (32.58), 100 back (1:08.56), and 200 IM (2:39.76). Peachee dropped 5.76 seconds in the 200 free and 3.95 seconds in the 200 IM.

 

Final Team Scores

Boy’s

  1. Carmel Swim Club: 2,586
  2. Lakeside Swim Team: 2,201.5
  3. Central Ohio Aquatics: 897.5
  4. Cincinnati Marlins: 539
  5. Zionsville Swim Club: 500

Girl’s

  1. Carmel Swim Club: 2,386.5
  2. Lakeside Swim Team: 2,053
  3. Dayton Raiders Swim Club: 909
  4. Zionsville Swim Club: 595
  5. Cincinnati Marlins: 531.5

Read the full story on SwimSwam: Li Zheng Wins Seven Events, Clocks Eight Personal Bests at Carmel Swim Club Fall Frenzy

Clinical Trial Shows Semaglutide Ineffective in Slowing Alzheimer’s Progression

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Scientists have failed to show that weight-loss wonder drug semaglutide slows the progress of Alzheimer’s disease (AD), as two-year clinical trials end in disappointment for patients, medical scientists and drugmaker Novo Nordisk.

In February 2024, we covered the news that researchers at the University of Toronto had found an intriguing – and potentially groundbreaking – way that GLP-1 agonists were able to reduce inflammatory markers, positioning medication like Wegovy and Ozempic as possible neurological lifelines. Because of this and other promising signs in preclinical research, there were naturally a lot of eyes on these trials.

However, Novo Nordisk has now announced that the top-line results from its two-year Phase 3 trials investigating semaglutide and early-stage symptomatic AD has failed to deliver on its core measure – despite some positive aspects when it came to symptom relief.

In two randomized, double-blinded trials featuring 3,808 adults, an older version of the company’s oral semaglutide was tested for its efficacy and safety in reducing the progression of AD, compared with a placebo. Pre-clinical research had scientists cautiously optimistic about yet another treatment path for semaglutide – and in an area of medicine that desperately needs a major drug breakthrough.

While Novo Nordisk was well aware that repurposing semaglutide to halt AD progression was a long shot, there was a lot of hope – as well as time and money – invested in these trials. Some of the disappointment may also stem from how we view GLP-1 drugs: if they can change the course of obesity across the US, and the world, maybe they could succeed with AD when nothing else has? After all, semaglutide has been granted permission to treat chronic conditions like kidney disease and cardiovascular disease, and further studies are looking at its usefulness to combat addiction and much more. So we may not yet be ready to accept that the “miracle drug” does have limitations.

“Based on the significant unmet need in Alzheimer’s disease as well as a number of indicative data points, we felt we had a responsibility to explore semaglutide’s potential, despite a low likelihood of success,” Martin Holst Lange, chief scientific officer and executive vice president of Research and Development at Novo Nordisk. “While semaglutide did not demonstrate efficacy in slowing the progression of Alzheimer’s disease, the extensive body of evidence supporting semaglutide continues to provide benefits for individuals with type 2 diabetes, obesity and related comorbidities.”

Semaglutide actually resulted in improvements in Alzheimer’s disease-related biomarkers across the two Phase 2 trials, but sadly this didn’t also mean it slowed down disease progression – which was the focus of the studies. Semaglutide did no better than a placebo in moving the needle on the Clinical Dementia Rating – Sum of Boxes (CDR-SB) score, with no meaningful shift from baseline measures.

Novo Nordisk announced that a one-year extension of the two trials would now be discontinued. Their respective top-line results will be presented at the Clinical Trials in Alzheimer’s Disease (CTAD) conference on December 3, and full results will be available at the 2026 Alzheimer’s and Parkinson’s Diseases Conferences in March 2026.

Not surprisingly, the pharmaceutical giant’s shares also took a big hit after the announcement.

Source: Novo Nordisk

Senator in Australia suspended for wearing burka in parliament

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An Australian senator has been suspended for a week after wearing a burka in parliament to push for a ban on the Muslim garment.

Pauline Hanson was condemned by fellow senators – and later formally censured – for the stunt on Monday, with one colleague accusing her of “blatant racism”.

The Queensland senator, of the anti-immigration One Nation party, was seeking to introduce a bill that would outlaw full face coverings in public – a policy she has long campaigned for.

It is the second time she has worn the garment – which covers the face and body – in parliament, and said her actions were in protest at the senate rejecting her bill.

Shortly after other lawmakers blocked her from introducing the bill on Monday, she returned wearing a black burka.

“This is a racist senator, displaying blatant racism,” said Mehreen Faruqi, a Muslim Greens senator whom the Federal Court last year found was a victim of racial discrimination by Hanson – a judgement the latter is currently appealing.

Fatima Payman, an independent senator from the state of Western Australia, called the stunt “disgraceful”.

Foreign Minister Penny Wong, who serves as leader of the government in the senate, on Tuesday moved a motion to censure Hanson, claiming she “has been parading prejudice as protest for decades”.

The motion, which passed 55 votes to five, states that Hanson’s actions were “intended to vilify and mock people on the basis of their religion” and were “disrespectful to Muslim Australians”.

Wong earlier argued Hanson was “not worthy of a member of the Australian senate”.

In a post on Facebook, Hanson wrote: “If they don’t want me wearing it – ban the burka.”

She previously wore a burka to parliament in 2017, also calling for a national ban at the time.

In 2016, Hanson was criticised for her maiden speech to the Australian senate, in which she said the country was in danger of being “swamped by Muslims”.

It echoed her controversial first speech to the House of Representatives, made in 1996, in which she warned that the country was in danger of being “swamped by Asians”.

Syfe CEO emphasizes the importance of trust for fintech founders to unlock sector’s full potential

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The fintech industry moved into the modern era from something deeper than just better technology. The Global Financial Crisis of 2008 triggered a crisis of trust. For millions of consumers and businesses, the crisis revealed a need for greater transparency. A new generation of financial services companies–fintechs–stepped into the gap promoting not just efficiency and lower costs, but transparency and accessibility as well.

This approach has delivered real results: The International Monetary Fund finds that digital finance not only increases financial inclusion, but is also associated with higher GDP growth and, in turn, helps create a more equitable global financial system.

The fintech industry has now matured, as shown by successful industry forums like the Singapore Fintech Festival and Hong Kong Fintech Week. The question has changed: It’s no longer whether fintech can disrupt; it’s whether fintech can build enough trust to manage and move the world’s money, and achieve the sector’s full potential? 

I believe we’re at a crucial inflection point. Fintech’s potential—business, social and economic—depends entirely on earning people’s trust to bring more of them, and their finances, into the system. 

Now is the greatest opportunity

Fintech is in the middle of a turbo-charged era: AI-driven efficiencies and personalization, instant decentralized settlements, and a fully digital wealth management experience, all unthinkable a decade ago, are now on the way. 

Basic trust has already been established. One example: across age groups, new technologies have significantly reduced the need for physical cash, if not made it near-nonexistent, in many economies. 

Yet it’s a substantial leap to go from trusting a platform to make a simple payment to trusting it to manage your retirement savings. As technologies grow more powerful and personal, trust is increasingly the gatekeeper to further adoption. The greater responsibility raises the bar for trust in complex financial systems and puts pressure on companies to demonstrate transparency. 

As algorithms and technology become more sophisticated, customers must understand exactly how decisions are made, where their money is held, and how their data is used. If fintechs cannot bridge the gap between these rapid advancements and clear, jargon-free information and education, mass adoption will falter. 

The limitation won’t be the technology itself, but the lack of public trust, which ultimately constrains the industry’s potential to improve financial health and inclusion. 

After all, a crisis of confidence can erase decades of work in mere days—just think back to 2023 and the Silicon Valley Bank crisis. Trust has to be consciously engineered into every platform layer.

Engineering trust into the business model

In an industry where relationships with users are largely digital, trust must be engineered through design. This requires modern fintech platforms to be built on three non-negotiable pillars:

First, fintechs must continue to open up access to their services. Platforms must lower traditional barriers to entry—high minimums, complex processes, early redemption fees and the like—to ensure that no one is excluded from wealth creation. 

Second, platforms must offer their users guidance. Financial confidence comes from clarity, not endless choice. Platforms must combine digital simplicity with human reassurance and expertise when needed. 

At Syfe, we’ve tried to put human expertise front and center, such as by offering discretionary management by our in-house experts on Managed Portfolios, but scaling it with technology for maximum reach. The personalized stock updates, powered by AI, are a good example of that process in action. 

Fintechs also need to build financial literacy, which remains a significant challenge even in advanced markets. Take Singapore: A Fidelity International found that just 22% of its residents felt confident about their ability to invest money. Education and jargon-free information are essential ingredients to empower people to build a better financial future.

Finally, fintech platforms must be affordable. It sends a clear signal: That they succeed only when their customers do. In an industry where hidden fees can erode confidence, cost efficiency ensures that technology can scale access without exploiting customers. 

Putting trust at the center of a business is the only sustainable growth strategy, and not just a moral stance. Customers who feel empowered and secure are more likely to recommend a service to others, stay through market volatility, and continue to adopt new products.

The imperative over the next decade is clear. If fintech is to fulfil its promise of democratizing access to better financial outcomes, it must make trust the organizing principle of its business. This requires investment, patience, and the courage to trade short-term disruption for long-term credibility. Trust will be the hardest metric to win, but it’ll be the one that will matter most.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

Fortune just hosted the Fortune Innovation Forum in Kuala Lumpur, Malaysia, where business leaders and policymakers from around the region debated and discussed strategies for a world marked by AI, protectionism, and geopolitical tensions. Check out our mainstrage sessions here and oureditorial coverage here!