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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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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. The 2019 Canadian fintech market map. Startups headquartered in Ontario dominate the table, with over 40 fintech companies from this market map headquartered in the Greater Toronto Area.

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Bitcoin Drops Below $6,000

PYMNTS

The market capitalization of bitcoin, the leading cryptocurrency, declined to under $100 billion for the first time since October of 2017 amid a steep sell-off in digital tokens Wednesday (November 14). According to a report in CNBC citing Coinmarketcap.com, the market cap of bitcoin was at $98,194,458,586 overnight.

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What happened to the bitcoin bubble?

Chris Skinner

That is the contention of Chris Skinner, Chairman of The Financial Services Club, author of thefinanser.com blog and one of Financial News’ ‘FinTech 40’ most influential people in financial technology. What other global themes should investors be aware of when dealing with the cryptocurrency market?

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How can a bank guarantee its future?

Chris Skinner

So it’s interesting how we’ve spent the last five years talking about sandboxes, creativity and design in financial technologies. The idea is to innovate outside the markets. I guess this is also why I see so many major banks investing in innovation as a marketing program, rather than as a serious venture to change the bank.

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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 The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1

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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

The legal cannabis market’s financial services challenges are, by now, well-known. Credit unions and regional or community banks have stepped in to fill the banking gap, making barriers to accessing much needed financial services lower than ever before for marijuana businesses.