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UK Retail Banks Draft FinTech Alliance Guidelines

PYMNTS

banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). has been a hotbed of FinTech startups. USD) a year into financial technology companies. For me, culture is key.

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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

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Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Those interviewed by the GAO also said that guidelines would be of help in making sure lending is done efficiently.

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Kuwait Debuts FinTech Sandbox

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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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 FinTech Collaborations and Frameworks Gain Steam in Asia

PYMNTS

In China, the central bank has said that it will offer up a three-year development plan for the domestic FinTech sector. The reports state that the FinTech firms in that country “should take the approach of [Chinese president] Xi Jinping’s socialism with Chinese characteristics in the new era as the guide.”

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Global Regulators Work Together On Blueprint For FinTech ‘Sandbox’

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Regulators from around the world are teaming up to create a blueprint for a global FinTech “sandbox.”. According to Reuters , Britain’s Financial Conduct Authority (FCA) announced the plans for a global testing bed for new financial technology apps. So far, only 13 of the bloc’s 28 members have set up sandboxes.

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Can The Wealthiest City Win At FinTech?

PYMNTS

The Future Of FinTech? Japan’s Financial Services Agency (FSA) announced its own plan to boost the FinTech market by making it easier for companies to collaborate with the financial technology industry. “FinTech will have a big impact on financial services.” Making Startups Thrive.

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FTC seeks comment on proposed amendments to safeguards and privacy rules

CFPB Monitor

The amendments are also designed to ensure that non-bank financial technology entities, fintechs, are subject to cybersecurity standards similar to those that banks are subject to under the FFIEC interagency guidelines.