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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

PYMNTS

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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 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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FTC seeks comment on proposed amendments to safeguards and privacy rules

CFPB Monitor

The proposed changes are informed by the FTC’s enforcement experience and are intended to keep pace with technological developments. The Safeguards Rule requires financial institutions to have a comprehensive information security program.

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Bridging the Digital Divide Between Banking Innovators and Those Stuck in Legacy Mode

NCR

Banking institutions and financial technology startups are putting their differences aside and working to find common ground. The chasm that has traditionally existed between the two is due primarily to their divergent approaches in providing financial services. Security and Compliance. Document management.