PYMNTS

MAY 6, 2019

The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. The national licenses would let FinTechs lend money and paychecks to consumers. In the U.K., In the U.K.,

National 165

National Fintech New York Exercises 165

Chris Skinner

FEBRUARY 26, 2017

A summary of the main blogs of the week … The FinTech Wave, Part One (part two next week) I wrote a blog the other day for The Next Web. the 2030s and Samantha There’s a line in the 2013 film Her, it’s not just an operating system, it’s a consciousness. I thought it was ok, and it has gained a lot of traction socially. But … web 1.0,

Phoenix 150

Phoenix Maine Analytics Analysis 150

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. ” In 2017, an estimated 40 percent of financing requests from micro, small and medium-sized businesses (SMBs) were denied.

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

AUGUST 3, 2020

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). ‘Ndrangheta operates from the Calabria region in Southern Italy.

Regional 362

Regional Online Fintech Regulation 362

PYMNTS

JANUARY 11, 2021

Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). The FinTech startup has already created several financial services products, including cryptocurrency and stock trading, savings wallets, junior accounts and rewards. The company added bitcoin, ether and litecoin in 2017. 11) that having a U.K.

cryptocurrency 216

cryptocurrency Leadership Bitcoin Fintech 216

PYMNTS

SEPTEMBER 27, 2017

Trade finance revenue is slipping at the world’s largest banks, especially as companies struggle in a global trade environment operating with a $1.5 The FinTech space is hoping to address these challenges head-on, targeting the paper and manual-based processes of trade finance transactions though innovations like blockchain.

Fintech 128

Fintech Survey Lending United States 128

PYMNTS

SEPTEMBER 27, 2019

percent decline in correspondent banking activity in 2017. Correspondent banking exposes financial institutions to the risks of its correspondent banking partners, and with anti-money laundering regulations tightening, and the risk of cyberattacks on the financial services industry growing, banks are looking to limit their exposure.

Fintech 138

Fintech Management Operations Payments 138

Gonzobanker

DECEMBER 19, 2017

FinTech threats and distractions. Heavy-handed regulators. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. Payments chaos. THE BANKING AWARDS.

Conference 101

Conference Industry Community Bank Community 101

NCR

JANUARY 17, 2017

Given the prevalence of financial services across the globe – in both emerging and developed markets – the disruption opportunity for fintech startups is massive. As fintech startups battle it out to get their share of the business, the drive for innovation is spreading well beyond traditional tech hubs and basic banking products.

Fintech 40

Fintech Trends Industry Compliance 40

CFPB Monitor

FEBRUARY 20, 2019

The Conference of State Bank Supervisors (CSBS) announced last week that it has agreed to implement 14 recommendations made by its Fintech Industry Advisory Panel (Advisory Panel). It has 33 fintech company members that engage with the CSBS Emerging Payments and Innovation Task Force and other state regulators.

Fintech 68

Fintech Conference Survey Regulation 68

PYMNTS

JANUARY 11, 2018

According to the report, 88 percent of lenders plan to lend more in 2018 than they did in 2017, and more than a third (36 percent) said they plan to lessen requirements for loan approval. That means a slowdown in trade finance operations – and economic struggles aren’t the only factor behind this trend. percent in 2016.

Fintech 126

Fintech Lending Trends Operations 126

PYMNTS

MAY 12, 2020

Traydstream , a FinTech that looks at trade documents with artificial intelligence (AI), has partnered with Infosys Finacle to implement blockchain technology and further automate trade finance, according to a press release. Consequently, our clients have experienced processing time reduction by nearly 75 percent.”.

blockchain 213

blockchain Compliance Regulation Fintech 213

Chris Skinner

MARCH 23, 2017

They manage the Fintech Istanbul program, and are the powerhouse behind many of the innovations we’ve seen in Turkey from mobile wallets to contactless payments. We may describe Turkish banking sector as strong, innovative, modern and well-regulated. As of January 2017, there are 58.8 million credit cards, 118.3

Innovation 196

Innovation Cards Trends System 196

PYMNTS

FEBRUARY 21, 2018

To tackle this issue, companies are looking to infuse AI with a bit of humanity, help consumers better connect with computer-operated services and offer improved insights. With the approval in place, the company is now able to fully operate in the PSD2 scheme. Meanwhile, Emma Technologies LTD has celebrated an AI milestone.

Digital Banking 163

Digital Banking Fintech Software Operations 163

PYMNTS

JANUARY 26, 2017

Still, according to the latest Mercator Advisory Group report on FinTech disruption, B2B payments will have to wait a bit longer to see true change from these innovations. The firm released its 2017 Payments Outlook report last week and made some conclusions that B2B FinTech players may find disappointing. B2B Payments Outlook.

Innovation 100

Innovation Payments Regulation Fraud 100

PYMNTS

NOVEMBER 14, 2018

Consider the fact, as Reuters did, that firms such as Alibaba roughly doubled in value in 2017 alone – a stock market ascent that seems quite a ways away, given the volatility that has marked the past several months and that has hit valuations by trillions of dollars. blocking of some tech-related acquisitions.

Regulation 122

Regulation United States Industry Course 122

PYMNTS

JANUARY 12, 2021

It also has a California office, which opened in 2017, and has plans for a Colorado office. Delivery Hero, the German food delivery platform that operates in 50 nations, is rolling out an early-stage VC firm called DX Ventures that will be managed independently to concentrate on furthering upstarts led by founders. and the World Bank.

Detroit 135

Detroit New York City System Payments 135

PYMNTS

DECEMBER 19, 2018

San Francisco-based FinTech company Square, known for its white card readers, has once again decided to become a banking establishment, according to a report in The Wall Street Journal. The company had previously asked to start a bank in September of 2017, but eventually withdrew from the process over procedural issues.

San Francisco 165

San Francisco Utah Capital Regulation 165

PYMNTS

JUNE 12, 2017

Their 2017 survey contains data points that all point to one conclusion: Companies are forced to reshape their payment strategies thanks to a combination of factors, including the rising threat of payments fraud, increased globalization and high payment volumes. But how businesses reshape their payment practices varies. Payments Rails.

Fintech 150

Fintech Survey Cards Payments 150

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank.

Industry 108

Industry Fintech FDIC Community Bank 108

PYMNTS

MARCH 4, 2017

And as traditional financial institutions (FI) begin to recognize the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . How can banks stay competitive while still cooperating with FinTechs?

Innovation 191

Innovation Data Fintech Exercises 191

Independent Banker

MARCH 31, 2022

We must also keep our focus on protecting the 2017 tax cuts and, as always, monitoring and confronting credit union overreach. Lucas White: We need to continue to differentiate community banks and educate policymakers on why tiered and proportionate regulation is necessary. Bank Operations and Payments chair Alice P.

Community Bank 239

Community Bank Community Industry Texas 239

PYMNTS

JANUARY 22, 2019

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. 70 percent.

Payments 195

Payments Regulation Security Data 195

PYMNTS

JULY 8, 2019

is perhaps the most vocal market in the late B2B payments world, with regulators working to address delayed invoice payments, while FinTechs and banks weigh in on the matter with their own efforts to tackle the issue. Others, however, argue that regulators should take the lead in alleviating the pain of late payments.

Payments 124

Payments Report Regulation Meeting 124

PYMNTS

AUGUST 24, 2018

Well, for starters, as bankingtech.com reported this week, the bank was bought by Latvian FinTech entrepreneurs Marks Moskvins and Maksims Jarosevskis. They are the owners of Transact Pro , which operates as a payments processing firm in Latvia. million Euros in 2017, while the bottom line slipped 14.8 And how come so … cheap?

Colorado 101

Colorado Leadership Fintech Operations 101

PYMNTS

DECEMBER 15, 2017

Today in PYMNTS’ data, small- and medium-sized businesses (SMBs) have won the alternative financial venture capital (VC) funding rounds, millions of SMBs are in operation in the U.S. — 30 million | Higher end estimation of the number of SMBs in operation in the U.S. today, according to the United States Small Business Administration.

Data 109

Data New York City eBook US 109

PYMNTS

MARCH 29, 2018

The publication noted investor confidence is waning, exacerbated by financial losses for 2017 reported by the bank. Last year at a banking conference in Germany, Cryan discussed market competition, noting that the financial institution is more concerned with alternative FinTech disruptors than it is with industry peers.

Leadership 101

Leadership Conference Report Operations 101

CB Insights

JULY 11, 2019

Today, there are over 20 fintech startups that have crossed the 1 million customer account mark, according to CB Insights data — including Acorns , Robinhood , SoFi , Coinbase , and Credit Karma , among others. oVER 20 Fintech startups with 1m+ customer accounts. fintech startups are Changing the consumer experience.

Fintech 64

Fintech cryptocurrency Examples Cards 64

CFPB Monitor

JUNE 14, 2022

The NAL was essentially a renewal of the no-action letter issued to Upstart in September 2017, which was the first no-action letter issued by the CFPB. The CFPB issued an order last week terminating the no-action letter issued to Upstart Network, Inc. on November 30, 2020 for a 36-month term (NAL).

Innovation 148

Innovation Analysis Resources Compliance 148

PYMNTS

SEPTEMBER 26, 2018

Earlier this year, CoinDesk data revealed more money was raised via ICO in the first quarter of 2018 than in the entirety of 2017, totaling $6.3 It’s another gap in the market giving rise to FinTech firms addressing this issue. billion raised in those first three months. billion raised via ICO in July. This week, U.S.

Management 164

Management cryptocurrency blockchain Regulation 164

PYMNTS

MARCH 4, 2017

And as traditional financial institutions (FI) begin to view the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . How can banks stay competitive while still cooperating with FinTechs? It loves modern technology.

Innovation 100

Innovation Data Fintech Exercises 100

PYMNTS

APRIL 2, 2018

On the global stage, bitcoin fell below $7,000 to just above $6,800, and Ripple slipped to its lowest price since the end of 2017. The specific directive from William Galvin, the state’s head securities regulator, commands that those firms abandon the sale of what have been termed “unregistered securities.” Same alarms, different week.

United States 110

United States social media Arizona cryptocurrency 110

PYMNTS

FEBRUARY 4, 2019

Twenty-five of them were operational worldwide in 2017, and that number had swelled to 40 by September 2018, with 16 more expected to debut by 2020. The Federal Reserve’s Faster Payments Task Force established a goal in July 2017 that any consumer or business with a U.S. billion in 2018 to $26.9 billion by 2023 — a CAGR of 30.9

Payments 183

Payments System Cards Policies 183

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. get the 86-page fintech report.

Cards 71

Cards Fintech UX Strategy 71

Insights on Business

MAY 30, 2017

At the same time, the regulatory environment is also evolving rapidly, with compliance to regulations such as the revised Payment Services Directive (PSD2) promising further industry-wide change. It is expected that the impact of the ecosystem on how you as a bank operate will be significant. Adoption of a holistic ecosystem approach.

Payments 178

Payments Industry Innovation Maine 178

PYMNTS

JULY 8, 2019

Financial services is often a learning process for FinTech operators who may come in with a lot more inspiration than knowledge, Meier noted. That means FinTechs need systems that are primed to continuously scan their customer lists against those watchlists, and ensure that any new hits are investigated.

Compliance 202

Compliance Data System Fintech 202

PYMNTS

JUNE 14, 2019

It was late November 2017 when the world got its public preview of Visa B2B Connect at the Singapore FinTech Festival. Its new FinTech team could ultimately have more than 100 workers. Pet retail is among the fiercest battlefields for both brick-and-mortar merchants and eCommerce operators.

San Francisco 100

San Francisco Fraud United States Google 100