Bank Innovation

NOVEMBER 14, 2017

The finance landscape is witnessing some significant changes and disruptions due to fintech companies, blockchain technology, and AI. Innovation in this highly regulated field is necessary, and even giants are rising to the challenge and trying to get more customer-friendly, agile or at least aligned to the new standards set by start-ups.

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PYMNTS

JULY 22, 2020

FinTech TradeCore rolled out a platform that helps new financial institutions (FIs) launch quickly and easily, according to a Financial IT report. CEO Stefan Pajkovic founded the company to help emerging FinTechs find their way through the industry’s regulations and licensing requirements.

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PYMNTS

FEBRUARY 15, 2018

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. That comes as Open Banking bowed in Europe last month.

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PYMNTS

JANUARY 26, 2021

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”.

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PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. ius noted, this is often because the heart of the cryptocurrency industry is often at odds with the nuances of regulation.

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Bank Innovation

SEPTEMBER 26, 2017

Several banks in Singapore have closed the accounts of an estimated 10 firms specializing in cryptocurrency and payments services.

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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. 11) that having a U.K. billion valuation. billion valuation.

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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. Welcome to adulthood, y’all. What’s Next? But please, don’t get cocky.

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PYMNTS

OCTOBER 9, 2019

The Bank of England’s (BoE) Financial Policy Committee (FPC) has laid down a set of strict rules that Facebook’s Libra and other cryptocurrencies must follow in order to do business in Britain, Reuters reported on Wednesday (Oct. The terms of engagement for innovations such as Libra must be adopted in advance of any launch. “The

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Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

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PYMNTS

OCTOBER 16, 2019

The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. The fact is that the financial system … is the most heavily regulated part of the economy. He said that regulation is an important aspect of the field. That’s not hubris,” he said.

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Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

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Bank Innovation

DECEMBER 7, 2017

cryptocurrency exchange bitFlyer wants to bridge the trading gap between two of the world’s largest bitcoin markets. EXCLUSIVE — With its recent launch in the U.S., Japan is the largest bitcoin trading market in the world, about 50% of it happens in there; the U.S.

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PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. user ban.”. Banking 2.0.

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PYMNTS

FEBRUARY 13, 2019

South Korean cryptocurrency exchange Bithumb announced the launch of its own fiat-to-crypto exchange in the United Arab Emirates (UAE) with UAE-based firm Nvelop. While European blockchain technology companies saw a record year in VC investment in 2018, new data shows that they still didn’t receive as much funding as FinTech companies.

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PYMNTS

AUGUST 29, 2018

Swiss financial regulator FINMA is planning to soften anti-money laundering rules for smaller FinTech firms in an attempt to help the country become a tougher competitor in the money management sector. ” But advocates still say that in order to truly compete in the market, there needs to be more innovation in the country.

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PYMNTS

JULY 22, 2019

And there is no shortage of interest in the region in that ability, with particular interest coming from the financial services sector, the cryptocurrency markets and in the healthcare vertical. The Latin American market isn’t going to slow down — not from an innovation standpoint, and not from a regulatory standpoint.

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PYMNTS

MARCH 6, 2018

s exit from the bloc next year, the EU’s executive is set to propose a draft law aimed at boosting the FinTech market throughout the region. According to news from Reuters , a document by the European Commission revealed that the law would enable the FinTech sector to grow through crowdfunding and common blockchain technology standards. “An

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CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. It also solicits feedback on how to maximize stakeholder engagement.

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PYMNTS

SEPTEMBER 11, 2019

The Libra Association is petitioning the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned Libra cryptocurrency, Reuters reported on Wednesday (Sept. Just yesterday , U.S.

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PYMNTS

FEBRUARY 14, 2020

12) that the federal government would be rolling out new regulations regarding cryptocurrency at the Financial Crimes Enforcement Network (FCEN). He said that there had to be a balancing act — the tech should be allowed to move forward and innovate. Secretary of the Treasury Steven Mnuchin said Wednesday (Feb. In the U.S.,

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PYMNTS

SEPTEMBER 26, 2018

The initial coin offering (ICO) has emerged as a corporate financing trend just as volatile as many of the cryptocurrencies themselves. It marked the first drop in ICO funding in more than a year, according to Bloomberg reports, citing a correlation between ICO funding declines and drops in cryptocurrency values. ICO market.”

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PYMNTS

JULY 4, 2018

FinTech startups and big tech may provide competition for established banks that have bad loans on the books, The European Banking Authority (EBA) said on Tuesday (July 3). And, while London has served as Europe’s primary FinTech center, Brexit could change that: The U.K.’s s exit from the bloc next year.

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Bank Innovation

FEBRUARY 4, 2019

That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe. On Tuesday and Wednesday, about 3,000 entrepreneurs, investors, bankers, and regulators descended on the neo-classical Palais Brongniart, once home to the stock exchange. Crypto fever has truly broken.

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PYMNTS

JANUARY 29, 2018

Bitcoin grabs the headlines, but as investors rush to jump on the cryptocurrency bandwagon, there are other market forces at play ready to make an impact in cross-border payments – today. As these burdens on SMBs mount, FinTech stepped in to try to tackle the problem. With initiatives like Open Banking in the U.K.

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Bank Innovation

SEPTEMBER 27, 2017

fintech firm, Bittrex, and South Korean app developer, Dunamu, an affiliate of the country’s largest messaging platform, Kakao, have teamed up to launch a new, massive cryptocurrency exchange platform in South Korea.

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PYMNTS

SEPTEMBER 10, 2019

The Geneva-based, Facebook-led Libra cryptocurrency will have to adhere to stringent regulations, Reuters reported on Tuesday (Sept. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker told Geneva reporters that all cryptocurrency projects operating in the U.S.

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PYMNTS

FEBRUARY 20, 2020

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.

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The Financial Brand

NOVEMBER 3, 2021

Synthetic banking' as practiced by fintechs and banking as a service users is targeted by the acting national bank regulator. The post Will Regulators Stuff the Fintech Genie Back into the Bottle? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

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PYMNTS

JANUARY 7, 2020

For a country that is striving mightily to go digital when it comes to financial services, it may be a bit curious that Qatar has seemingly put the brakes on cryptocurrencies. As reported by the Gulf Times , the Qatar Central Bank adopted new regulations in December that focus on combating money laundering and terrorist financing.

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PYMNTS

OCTOBER 29, 2019

The rise of blockchain technology was accompanied by that of cryptocurrencies, but innovation in blockchain technology does not mean we should speculate in virtual currencies.”. Two years ago, Chinese regulators banned cryptocurrency and trading exchanges. The Shanghai Stock Exchange said Monday (Oct.

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PYMNTS

DECEMBER 11, 2019

The New York State Department of Financial Services (DFS) is proposing revised rules for the listing of new virtual currencies and will review the state’s BitLicense , the regulator announced in a press release on Wednesday (Dec. DFS Superintendent of Financial Services Linda A. DFS will release final guidance after comments are reviewed.

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Bank Innovation

AUGUST 28, 2017

Chinese regulators are considering banning initial coin offerings altogether.

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Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

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Payments Source

JULY 29, 2019

The former state banking superintendent weighs in on some of the toughest questions bank regulators are grappling with and the lawsuit (still ongoing) that she filed against the OCC.

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Gonzobanker

FEBRUARY 1, 2023

While AOBA provides a fertile forum for buyers and potential sellers in the bank M&A space to commensurate, the crowd uses this valuable face time to also delve into discussions about the economy, strategic growth, fintech innovation, competition, and talent wars.

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PYMNTS

APRIL 30, 2018

It’s a thought that was triggered recently after reading and reflecting on recent developments across three innovations heralded as FinTech’s poster children — disruptors out to change the world and eat the proverbial lunches of incumbents they say are too big and too unmotivated to change. Blockchain. Marketplace lending. Blockchain.

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