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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions.

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SEC to hold fintech innovation public forum

CFPB Monitor

on November 14, 2016 to discuss financial technology innovation in the financial services industry. The panels will discuss issues such as blockchain technology, automated investment advice or robo-advisors, online marketplace lending and crowdfunding, and how they may impact investors.

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Yes, Fintech Really Is Improving Customers’ Everyday Lives

Bank Innovation

Most veterans of the financial technology space can confess to some cynicism about new technology and products. Consumers, especially those with genuine day-to-day financial struggles, don't seem to see much improvement. We're all still waiting for blockchain and mobile payments to transform the financial system.

Fintech 170
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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

The report included several recommendations for banks, FinTechs and other financial services players — guidelines to establish an industry-driven framework for governing the system and encourage further research and investment in emerging financial technologies. The lending environment is changing so rapidly,” Giorgio said.

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Japan’s Mizuho Launching FinTech Venture

PYMNTS

Mizuho Financial Group , the Japanese financial company, is gearing up to launch a venture in June to create new businesses with FinTech. If we try to pursue business innovation within the bank, we have to ask around for permission from people in risk management, compliance and others. It takes forever,” said the executive.

Fintech 100
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Digital Currency Eyes Wholesale — Not Retail — Payments Down Under

PYMNTS

The nod toward “overseeing the payments system” seems to give a wide berth to the idea that a CBDC could underpin a broad swathe of the Australian financial system, and would keep things closely held. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”.

Retail 219
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What Can Banks Learn From The FinTechs?

Insights on Business

In today’s highly digitized and connected world, several lean and nimble organizations are making profound business impact challenging the traditional banking models in domains such as Payments, Lending and Wealth Management. What can banks learn from the FinTechs?

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