Bank Innovation

APRIL 24, 2017

The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation.

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PYMNTS

MARCH 29, 2019

Federal Bank in India has partnered with blockchain payments company Ripple to facilitate cross-border payments, according to reports. This is to inform Federal Bank has entered into a partnership with Ripple Inc, a blockchain supported global remittance company, for cross border remittance through its network, ” the announcement said.

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PYMNTS

MARCH 17, 2017

As the underpinning technology to the digital currency bitcoin, blockchain technology is still in its infancy stage. While companies learn more about the technology, various financial institutions are dipping their toes into the blockchain pool. It just announced it has recently joined the R3 blockchain consortium.

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PYMNTS

MAY 16, 2020

patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. 100 for User A in America, 200 pesos for User B in Mexico and so forth) in order to perform transactions in a secure, fast and reliable way.”.

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PYMNTS

SEPTEMBER 17, 2019

In other news, the World Blockchain Initiative (WORBLI) said its protocol eliminates any concerns that a token can be used for illegal activities. Compliance is actually one of the biggest barriers to entry for small businesses in any highly regulated industry,” the company wrote in a blog post.

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PYMNTS

NOVEMBER 6, 2020

Financial services firm Figure Technologies, Inc. By reducing complexity, we can leverage the technology efficiencies we have to deliver financial solutions to traditionally underserved and underrepresented consumers, driving real financial inclusion.”. 6) announcement.

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Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. The blockchain is here to stay – learn it, know it, live it. What’s Next?

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PYMNTS

OCTOBER 8, 2018

And Seoul Mayor Park Won-soon unveiled a $108-million plan to make the capital into a blockchain-enabled smart city, Coindesk reported. He said that multiple public services such as elections and labor welfare will use the blockchain technology. Once it is a financial instrument it comes under a whole regulatory framework.”.

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PYMNTS

OCTOBER 12, 2016

Blockchain startup contests. With €15,000 in prize money ready to be handed out, BlockchainHub Graz and industry partners have announced a Blockchain Startup Contest. Enriching the ecosystem of decentralized technology is key in the fight, however. With the expansion of blockchain, this is likely not a one-off competition.

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PYMNTS

JANUARY 16, 2019

In Asia, blockchain continues to get a boost from government and regulatory efforts, especially in the realm of trade finance done across borders. The CBA pilots, as reported by CoinDesk and other sites, were tied to the issuance of letters of credit and securities. IoT Gains Traction With Blockchain.

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PYMNTS

NOVEMBER 10, 2020

Phixius provides interoperability between various participants connecting to the platform, enabling better security in moving data as opposed to storing it in a central repository like the cloud. According to Throckmorton, Phixius fixes issues with the old system by using congruent regulations and leveraging blockchain technology.

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PYMNTS

JANUARY 25, 2019

IBM has teamed up with banks and insurers to create a blockchain system for the healthcare space, according to an announcement. Through the efforts, members are planning to tap into the technology for payment and claims processing, as well as other tasks. ”

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PYMNTS

FEBRUARY 6, 2019

That reality, of course, places a premium on the accuracy of that data, as well as efficient access to it and the secure storage of all that deeply personal information. That leads us to the latest discussion about the potential role that blockchain can play in healthcare data. Healthcare Friction. So have biometrics.

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PYMNTS

MARCH 1, 2018

Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. The technology has come a long way. We’re much more comfortable with its security and scalability.”. According to Wednesday (Feb. According to Wednesday (Feb.

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Payments Source

SEPTEMBER 2, 2020

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

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PYMNTS

NOVEMBER 7, 2019

Hong Kong’s chief securities regulator is calling on the world regulators to get on the same page when it comes to Facebook’s Libra to avoid the “real risk of regulatory arbitrage.”. “If And technology investment pioneer Glenn Hutchins is betting on blockchain.

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PYMNTS

OCTOBER 16, 2019

Mastercard has outlined its intentions with blockchain after its high profile exit from the Libra Association, a coalition of many successful companies meant to help guide and foster oversight of Facebook’s proposed cryptocurrency. We believe in the transformative power of blockchain. We thought it useful to share.”.

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PYMNTS

JULY 22, 2020

The Monetary Authority of Singapore (MAS) has proposed new regulations on cryptocurrency that will include those engaging in overseas activity, in an expansion on rules for the sector, according to a press release. The two organizations said an international consensus could help speed up transactions across borders.

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PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.

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PYMNTS

MARCH 14, 2018

.” Oliver was discussing cryptocurrencies and blockchain on his show, highlighting the massive potential the world of FinTech has touted for the last year or so. This balance of optimism and realism is taking over the blockchain space as of late. But the segment also warned to temper the hype with healthy skepticism.

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PYMNTS

JUNE 9, 2017

Blockchain could have an impact on the economy — is Russia leading the way with its current investments? With eCommerce transactions moving at the speed of light, the ability to have transparency between parties is likely crucial to preventing security breaches.

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PYMNTS

AUGUST 25, 2016

The World Federation of Exchanges (WFE) said there needs to be clarity over blockchain regulations before adoption can become more widespread. Reuters reported Thursday that the consortium polled its members, among them large banks, and the lure of the technology remains intact, as it would cut trading costs.

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PYMNTS

JANUARY 24, 2018

Bitcoin doesn’t necessarily have the blessing of government agencies, but what about blockchain? It seems governments are a bit more open to distributed ledger technology (DLT), though that doesn’t mean blockchain companies get a free pass with regulators. securities bar.”. Sullivan last year.

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PYMNTS

JUNE 19, 2019

Libra may have dominated the news so far this week — and, of course, the new cryptocurrency announced by Facebook is underpinned by blockchain. To that end, the MediLedger project debuted a new pilot program this week, billed as a cross-industry initiative that eyes using blockchain for drug supply chains.

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PYMNTS

MAY 26, 2017

From relying on physically walking into a bank to withdraw cash to snapping a photo of a check for deposits, technology has played a great part in the way financial transactions have evolved within the last thirty years. With the various advances in technology, many issues have come to light from the use of blockchain.

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PYMNTS

DECEMBER 20, 2017

As more businesses join collaborative groups and invest in internal research and development (R&D) to explore using blockchain for new services, some firms have begun to use the technology themselves. This week, news from Citigroup, UPS and Vanguard signal interest in using the distributed ledger technology in the back office.

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PYMNTS

DECEMBER 24, 2019

And for blockchain, a few warning signs have been flashing that all may not be as rosy as some observers may have hoped, had wanted. This is not to say that blockchain is doomed. Exhibit A, of course, would be Long Island Iced Tea, which back in 2017 said it would change its name to Long Blockchain Corp., billion.

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PYMNTS

NOVEMBER 3, 2020

In other news, HSBC has successfully run the first international blockchain letter-of-credit (LC) transaction in Bangladesh, according to an announcement. The Contour platform was used for the transaction, which involved the import of fuel oil for a power plant by United Mymensingh Power Limited from Singapore.

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PYMNTS

SEPTEMBER 20, 2018

The financial services (FinServ) market is, by far, ahead of other industries when it comes to blockchain innovation and adoption, according to data released this year by PricewaterhouseCoopers (PwC).

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PYMNTS

OCTOBER 29, 2019

China’s Tencent will take the lead in helping the global blockchain industry standardize invoices sent on distributed ledger technology (DLT), China’s Global Times reported on Tuesday (Oct. According to reports, a recent report by asset management firm Guosheng Securities found that “as of Aug.

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PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk.

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PYMNTS

JANUARY 29, 2020

The National Institute for Smart Governance (NISG) in India has published a report recommending that laws around blockchain should be based on what the technology does, and not the technology itself, according to a report Tuesday (Jan. said that national policy might not be enough in terms of crypto regulation. . “We

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Bank Innovation

SEPTEMBER 27, 2017

Fintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes. 2017 has been a […].

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PYMNTS

JULY 20, 2017

In the midst of today’s retail revolution, blockchain technology is being pushed up to the surface. E-Commerce’s increasing popularity over the last decade is likely the driver of blockchain technology implementation. One of the seemingly largest barriers for banks with blockchain technology are federal-level regulations.

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PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. Cloud-based KYC activities were among the new technologies most used by U.S. Smaller companies were less likely to report investing in and using AML technologies.

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PYMNTS

DECEMBER 14, 2018

“With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. In other news, “blockchain developer” is the number-one position in LinkedIn’s 2018 U.S. Emerging Jobs Report.

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PYMNTS

AUGUST 17, 2017

The Securities and Exchange Commission is getting into the bitcoin market, saying it will regulate the popular digital currency and other cryptocurrencies. According to a report in Seeking Alpha , the SEC said the cryptocurrencies are subject to federal securities laws.

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