PYMNTS

JANUARY 24, 2019

The Institute for FinTech Research at Beijing’s Tsinghua University (THUIFR) has unveiled a blockchain scholarship program with Ripple ’s help, Cointelegraph reported. Through the program, graduate students are said to focus on the study of blockchain development and regulations. A Ripple representative tweeted on Tuesday (Jan.

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blockchain Bitcoin Pennsylvania Guidelines 129

PYMNTS

JULY 26, 2020

The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators. Complaints are up 50 percent compared to the same time last year, March to June 2019.

Data 173

Data Google Fintech Groups 173

CFPB Monitor

JUNE 5, 2019

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). Arizona was the first state to create a fintech sandbox and we will soon be publishing a blog post about Utah’s new fintech sandbox.)

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Wyoming Fintech Arizona Financial Technology 60

CFPB Monitor

AUGUST 21, 2018

The report raises a number of issues with screen scraping while promoting the benefits of application programming interfaces (APIs) “that allow for the inclusion of robust security features, greater transparency and access controls for consumers, improved data accuracy, and more predictable and manageable information technology costs.”

Data 84

Data Report Regulation Security 84

PYMNTS

FEBRUARY 28, 2020

Credit unions’ emphasis on member relationships is one of the main factors that distinguishes them from large banks and FinTechs. Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. CUs’ Tools To Secure Member Privacy .

Data 131

Data California Security Pennsylvania 131

CFPB Monitor

MARCH 8, 2019

The Safeguards Rule requires financial institutions to have a comprehensive information security program. The proposed rule amendment will more clearly define the requirements for such information security programs. The expansion includes “finders” or those who charge a fee to connect consumers looking for a loan to a lender.

Cyber Security 68

Cyber Security Guidelines Security Compliance 68

CFPB Monitor

MAY 4, 2022

This language was likely drafted with Connecticut’s fintech and payment processing industries in mind. Data Minimization and Security. The CTDPA does exclude photos from the definition of biometrics but limits the exclusion to instances where the controller does not use attributes of photos to identify individuals. Conclusion.

Connecticut 148

Connecticut Utah Colorado California 148

PYMNTS

JANUARY 25, 2021

Last week marked the third anniversary of PSD2 , the regulation that launched open banking in the U.K. It is definitely getting very cluttered. and Europe. And those three years have given rise to a slew of new companies capitalizing on that initiative all over the world, as well as established companies making their mark.

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Online Meeting Payments Cards 300

PYMNTS

AUGUST 14, 2019

This challenge has led to an influx of challenger banks and FinTechs specifically targeting startups, solopreneurs and small- and medium-sized businesses. To make matters even more confusing, the definition of a small business is often ambiguous both to regulators and to banks.

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Lending Cards FDIC Capital 122

PYMNTS

APRIL 26, 2018

A month away, and the General Data Protection Regulation (GDPR) looms large. Yet, he added, discussions with IdentityMind’s own client base lean toward the smaller FinTech-based companies, where there has been less awareness and less reaching out for assistance for gearing up for GDPR than he might have expected. When it comes to U.S.

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Regulation Data Compliance Examples 128

PYMNTS

JULY 25, 2019

Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. is definitely helpful in terms of information sharing and in discovering things as quickly and as in-real-time as possible.”. N26 officially entered the U.S.

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Fraud Marketing US Resources 164

PYMNTS

OCTOBER 16, 2017

view and from a global view, the banks are going to come back in full-force, including Barclays and others, and then, on top of that, you’re going to have definite presence of Amazon players,” she said. But, amid this shakeup, there are uncertainties — including how regulators will respond, Mills added. “I

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Google Lending Conference Industry 100

PYMNTS

FEBRUARY 21, 2018

The latest news from the country comes from its government: Chief FinTech Officer of the Monetary Authority of Singapore, Sopnendu Mohanty, said the central bank is about two years out from being able to assess the impact of its current blockchain project, Ubin. On the federal level, the U.S.

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blockchain Los Angeles Regulation Oregon 130

PYMNTS

JANUARY 3, 2020

FinTechs led this charge and fueled much of the innovation. Take a core business function – payments, for example – and then make it lightning-fast, less expensive and secure. It’s been definitively shown that businesses and individuals will pay reasonable fees or percentages to receive their funds instantly. Making Money Fast.

Payments 151

Payments Fraud Fintech Security 151

Insights on Business

JULY 20, 2017

I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine. Regulations, such as Payment Services Directive (PSD2), are forcing banks to “open up”, enabling customers to easily share data with third parties. The fintech hub. It also creates its own products and has its own back-office operations.

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Fintech Mobile Examples Data 181

PYMNTS

JANUARY 22, 2018

There is another market segment, however, that similarly struggles to secure this Goldilocks effect, with products that aren’t too small and aren’t too large: the middle market. ” Perhaps one of the biggest challenges for this space is that the exact definition of the middle market isn’t exactly clear.

Management 116

Management Compliance Taxes Marketing 116

PYMNTS

MARCH 27, 2017

The rise of APIs in banking and FinTech can unlock greater usability of innovative solutions but also presents some difficult questions for the space. But today, when an API connects a bank and FinTech, for instance, those participants all have bilateral agreements between each individual collaborator for each API. .

Groups 100

Groups Fintech Innovation Industry 100

BankBazaar

JULY 27, 2020

What I’ve Learnt About Fintech. Fintech is the flavour of the season. During BankBazaar’s formative years, I also learnt that fintech is a cross-functional industry. For it to succeed, technology, regulators, and financial institutions must work in tandem. Every investor wants a piece of it today. Explore BankBazaar.

Fintech 78

Fintech US Course Trends 78

CFPB Monitor

JULY 21, 2022

CA), inserting into the NDAA a version of the “Establishing New Authorities for Business Laundering and Enabling Risks to Security Act,” otherwise more commonly known as the ENABLERS Act. 5312(a)(2)(Z) to include a wide variety of individuals and entities under the definition of a “financial institution” covered by the BSA.

United States 78

United States Taxes Regulation Compliance 78

Insights on Business

SEPTEMBER 18, 2016

Many banks are concerned that PSD2 is a cost center that will compromise client relationships and security. The revised directive PSD2 aims to build interconnections between traditional banks and TPPs, many of whom are FinTechs. Value-Added Services = Profits for Banks. Services to Offset PSD2 IT Infrastructure Costs.

Marketing 70

Marketing Payments Compliance Security 70

CFPB Monitor

MARCH 9, 2020

A new FAQ states “[w]hile screen-scraping activities typically do not meet the definition of [a] business arrangement, banks should engage in appropriate risk management for this activity. For example, Principle 5 (Security) of the Bureau’s Consumer Protection Principles: Consumer-Authorized Financial Data Sharing and Aggregation (Oct.

Risk Management 78

Risk Management Data Management Compliance 78

PYMNTS

JUNE 29, 2016

While security development continues to get more sophisticated, fraudsters keep getting smarter. As a result, fraud prevention and security must be — and is — a top concern for digital companies. He described security as a constantly evolving struggle to identify who users really are and whether they pose risks. Smartvesting?

Fraud 100

Fraud Security User Experience Company 100

CFPB Monitor

DECEMBER 28, 2020

Along with the FDIC’s final rule regarding brokered deposits , the adoption of the final rule represents a significant development for fintech companies and other commercial companies seeking to establish ILCs. an ILC charter can be a viable alternative to the OCC’s fintech charter, which has been stalled by litigation.

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FDIC Industry Policies Company 78

PYMNTS

MAY 25, 2016

One firm’s risk is another firm’s big opportunity, particularly when it comes to data security — a reality well-illustrated by the team at BigID , who has emerged from stealth this week to offer up its SaaS solution for privacy management. And then … they have the option to figure out how to secure it.

Data 101

Data Big Data Security CA 101

PYMNTS

MAY 25, 2016

One firm’s risk is another firm’s big opportunity – particularly when it comes to data security – a reality well illustrated by the team at BigID – who have emerged from stealth this week to offer up their SaaS solution for privacy management. And then… they have the option to figure out how to secure it.

Data 100

Data Big Data Security CA 100

CB Insights

MAY 8, 2018

Even as the media storm around the sector has calmed, regulators are acting more aggressively and decisively, issuing subpoenas to bad actors and providing guidance to good ones. See how venture firms, corporates, regulators, and builders are shaping the future of blockchain technology. So far it looks like US regulators do not agree.

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blockchain Trends Technology cryptocurrency 75

CFPB Monitor

MARCH 8, 2017

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke. Comptroller Curry said that the OCC definitely has authority to grant special purpose charters without new legislation.

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Conference Policies New York City Data 74

PYMNTS

JULY 11, 2016

“They definitely see the writing on the wall that the world is moving in this direction.” Protecting the funds and the data behind transactions completed via distributed ledger technology will surely be front and center with regulators at some point. “Everyone has concerns about technology in general,” he noted.

blockchain 100

blockchain Compliance Security Technology 100

NCR

APRIL 24, 2017

The Canadian provider focuses on delivering the front-end technology and services required to achieve the customer experience it is looking for, leaving traditional bank functions such as card issuing and money holding to Canada’s OSFI-regulated Peoples Trust. million (US$970,000) in transactions.

Retail 75

Retail Customer Experience CA Innovation 75

Cisco

MAY 29, 2019

According to JD Power, “Nearly 90% of retail banking customers who are highly satisfied with the advice provided by their financial institution say they “definitely will” reuse their bank or credit union for another product” (The Financial Brand). Learn about Cisco Security for Financial Services. Financial Services at Cisco Live 2019.

Customer Experience 72

Customer Experience Retail San Diego Study 72

Fintech Labs Insights

OCTOBER 30, 2016

Deloitte recently asked what we should make of “regtech” in a new report titled, “RegTech is the new FinTech: How agile regulatory technology is helping firms better understand and manage their risks.” Compared to “insurtech” – regtech firms have been prominent players in the fintech firmament for years. ” Indeed.

blockchain 12

blockchain Trends Fintech social media 12

FICO

NOVEMBER 30, 2017

Fraud and security are a top priority for financial institutions — but just stopping fraud isn’t enough. Fraud managers have to look beyond losses and loss prevention and consider consumers’ need for a frictionless experience, regulators’ stipulations and the competitive pressures of fintech disruptors.

Fraud 82

Fraud Analytics Compliance Management 82

Cisco

MAY 29, 2019

According to JD Power, “Nearly 90% of retail banking customers who are highly satisfied with the advice provided by their financial institution say they “definitely will” reuse their bank or credit union for another product” (The Financial Brand). Learn about Cisco Security for Financial Services. Financial Services at Cisco Live 2019.

Customer Experience 48

Customer Experience Retail San Diego Study 48

PYMNTS

JANUARY 31, 2018

The Second Court held that the district court (which had initially struck down the Amex practices) had “erred in excluding the market for cardholders from its relevant market definition.” To recap that development, regulators are looking at “answers” to volatile trading and risk to be decided at the G20 summit slated for March.

Cards 102

Cards Marketing National Retail 102

Lex Sokolin

DECEMBER 25, 2019

There’s a lot to say about the overlap of Fintech and blockchain, but let’s find the very edge of the frontier and focus right there. Other things like Compound are essentially a securities lending marketplace?—?you See Staking Rewards and the chart below, and Coinbase for an example of a large Fintech providing the service.

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blockchain Bitcoin Software Lending 52

PYMNTS

APRIL 10, 2017

“Banks are generally seen as secure because of the regulations they are subject to,” he said. ” That negative perception often relates to the security of cloud technology and that data stored within it. “I definitely think they want to [adequately meet SMEs’ needs],” he said.

Fintech 101

Fintech Regional Technology Marketing 101

PYMNTS

FEBRUARY 8, 2019

OneLogin Chief Technology Officer and Founder Thomas Pedersen recently told PYMNTS why overcoming corporate security’s password hurdles doesn’t come without its own headaches. ” The security challenges don’t stop there. “API integrations are definitely a blind spot for many companies.”

Security 165

Security Data Tools Technology 165