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OCC’s New Office of Financial Technology Portends Increased Supervisory Activity

CFPB Monitor

The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.

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Kuwait Debuts FinTech Sandbox

PYMNTS

As evidence that sandboxes are ever-increasingly a global phenomenon, Kuwait’s central bank put forth guidelines this week that are geared toward companies seeking to meld financial technology (FinTech) and financial services (FinServ). FinTech Efforts In Africa.

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London FinTech Raises $4M For ‘Social’ Bank

PYMNTS

A financial technology company called B-Social has raised £3.2 The funds are just the ambitious company’s beginning steps toward its goal of becoming a wholly licensed bank — one that completely redefines what banking means and framing it around social interactions. The FinTech is aiming for a bigger U.K.

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The year in IBM FinTech

Insights on Business

As we wrap up an unpredictable and sometimes tumultuous year in both the fintech industry and the world, we’re looking back at the last 12 months of IBM FinTech blogs to pick out some of the more popular and insightful posts of 2017. Some even say that blockchain will be the most influential FinTech technology of 2018.

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FinTech year in review: What we saw and where we’re going

Insights on Business

The dominant story is that fintech startups and banks are better off as friends than foes. Fintech, once seen as a disruptor, is now becoming a mainstream and also a collaborating partner. Banks provide trust and infrastructure to a partnership with fintech. Banks are also innovators.

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Canadian Fintech Market Map

CB Insights

Finally, looking at Canadian “fintech” (financial technology) specifically, funding was up substantially in the first half of the year. Canadian fintech companies raised $251M through the end of H1’19, nearly double the $133M raised in H1’18. The 2019 Canadian fintech market map. digital collectibles”).

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UK Financial Watchdog Says Wirecard Cooperative But Assets To Stay Frozen 

PYMNTS

“We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns, for example that all clients’ money is safe,” the Financial Conduct Authority (FCA) said in a statement. “We We hope to be able to issue an update soon.”. authorities.

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