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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space.

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5 ways AI and automation can boost fairness in small business lending

BankInovation

With new research finding racial disparities in small business lending, one fintech is examining how artificial intelligence (AI) and automation can help improve fairness and reduce inefficiency that may be present in traditional lending processes.

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Joint Guidance Provided to Banks to Manage Risks Associated With Third-Party Relationships

Perficient

However, in what is sure to be a landmark in federal regulation, on June 6, 2023, the primary federal bank regulatory agencies issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

According to a survey by Lending Tree , nearly 70% of BNPL users admit to spending more on purchases when BNPL is an option than they do if they have to pay for everything upfront, bringing up the average value per order and resulting in higher profits for participating merchants.

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Hong Kong’s FinTech Strategy

Chris Skinner

Here’s the summary: Financial Technology, more commonly referred to as FinTech, looks set to reshape the financial sector in the coming years and present Hong Kong with both challenges and opportunities. So I was intrigued to see Hong Kong issue their FinTech strategy today.

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FinovateFall Sneak Peek: Aspire Financial Technologies

Fintech Labs Insights

Aspire was created in 2015 with a vision of re-imagining the technology infrastructure in the alternative and asset-backed lending markets. Presenters. The post FinovateFall Sneak Peek: Aspire Financial Technologies appeared first on Finovate. Register today. Aspire will demo the Aspire Gateway platform.

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 FinTech Collaborations and Frameworks Gain Steam in Asia

PYMNTS

As the site reported, the plan states that stronger FinTech risk controls should be in place, and adds that FinTech can help improve the quality of financial services through the country.

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