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RBS To Allocate $1 Billion To Help SMEs Switch To FinTechs

PYMNTS

Reports Thursday (July 26) said the Royal Bank of Scotland will be required to establish an innovation investment fund worth nearly $670 million, and a scheme worth $457 million, to encourage SMEs to switch bank accounts. RBS is also required to pay grants to challenger banks and FinTechs in an effort to enhance competition.

Fintech 100
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Financial Stability Board Calls For Current Crypto Education

PYMNTS

Financial Stability Board (FSB) Chair Randal Quarles has warned global financial regulators that they must accelerate the creation of a framework for cryptocurrency and other forms of digital money, Reuters reported on Wednesday (Feb. He sent the letter ahead of the 2020 IIF G20 Conference happening in Riyadh, Saudi Arabia this weekend, Feb.

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FinTech’s Bright Future Marred by Hype

PYMNTS

Unfortunately, “60 Minutes,” famous for investigative journalism, missed the really big story in FinTech. A few days later, one of the founding fathers of FinTech, Renaud Laplanche , was forced out of Lending Club, the peer-to-peer lender he founded in 2006, following scandals over loan disclosures and conflicts of interest.

Bitcoin 100
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What Industry Players Really Expect From 2017

PYMNTS

Analysts continue to flesh out their predictions for payments and FinTech in 2017, but one can never truly know the exact direction an industry will take. trillion by 2020, and eCommerce in India will grow 67 percent into a $38 billion market — a tenfold growth since 2009. But in 2016, the industry saw progress.”. “I

Industry 125
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Bitcoin Tracker: Mainstream Acceptance On The Rise

PYMNTS

Bitcoin came onto the scene nearly a decade ago in 2009 and has slowly been making strides in the financial world ever since. One of the main issues that most have had with the digital currency is that because of a lack of a central authority, it can be tough to regulate. Overseas, we’re seeing the U.K.

Bitcoin 101
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Is blockchain ready to transform the finance industry?

NCR

Blockchain is the technology that allows bitcoin, the digital currency launched in 2009, to function. The report predicted that “bread-and-butter” activities of financial institutions such as international payments, wire transfers, repackaging of mortgages and compliance reporting to regulators could all be replaced by blockchain.

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Fenergo Brings its Client Lifecycle Management Innovations to ABN AMRO

Fintech Labs Insights

. “A core part of our business transformation program will involve creating an internal, centralized KYC target operating model that will help us to simultaneously improve the client experience and reduce the cost impact of the regulator KYC activities,” Erftemeijer said.