Here’s is this week’s pick of our favourite stories from the world of tech and finance:
Why fingerprints will never replace passwords
Research by the University of Cambridge has suggested that banks may have to rethink their plans to use fingerprint technology instead of passwords to let people pay or withdraw money.
The study found that many older people’s fingerprints are too faded for the machines to recognise, while manual labourers can also see their fingerprints disfigured through work. Read more here.
Start-ups embrace Brexit opportunities
The Sunday Telegraph’s Dia Chakravarty says British entrepreneurs appear unfazed by Brexit, after a record rise in the number of UK start-ups over the last year.
There were 660,000 new businesses in 2016 compared with 608,000 in 2015 – with that record expected to be broken again this year, according to the think tank Centre for Entrepreneurs.
According to eBay’s UK boss Rob Hattrell, the creativity and the “strong entrepreneurial streak” of the country’s small businesses are helping them embrace Brexit as an opportunity rather than a barrier. Read more here.
Fintech makes London ‘Brexit-proof’
A report from Parker Fitzgerald has concluded that the strength of London’s fintech sector is one of several competitive advantages that make the City “Brexit-proof”.
Technology, rather than Brexit or regulation, will be far more important in driving change in the market for global financial services, according to the report.
Gerard Lyons, economic adviser at Parker Fitzgerald, said: “Through building on the existing expertise and infrastructure in traditional financial services and the already vibrant financial technology sector, the City can adopt a leadership role in digital financial services.” Read more here.
Government seeks bright tech ideas
The Government is seeking to ensure Britain is among the first countries to benefit from faster and more reliable 5G mobile networks by launching a £25m competition for ideas on how the technology can boost the economy.
Matt Hancock, the digital minister, is announcing a “5G Testbeds and Trials” competition which forms part of the Government’s £740m National Productivity Investment Fund.
The Government will offer match-funded grants of up to £5m to companies that propose new test locations for the roll-out of 5G connectivity. Read more here.
Demand for smart fridges hots up
John Lewis has reported a threefold rise in sales of smart fridges. The appliances cost up to ten times as much as an ordinary fridge and are equipped with internal cameras, sensors and an internet connection.
The £4,000 Samsung Family Hub sends pictures of the fridge’s shelves to phones whenever the door is closed, or on request. Read more here.