PYMNTS

MARCH 6, 2020

Digital payments sent internationally are expected to move past $1 trillion in 2025, but getting to that point will require support from payment providers, regulators and other such firms still building out the necessary infrastructure. The aim of creating this system was both to provide more speed and security to the country’s merchants.

Payments 304

Payments New York Metro New York City 304

PYMNTS

JUNE 9, 2019

International Monetary Fund Managing Director Christine Lagarde issued a warning over the weekend about the impact artificial intelligence may have on the financial system across the globe.

Industry 190

Industry Big Data Fintech Taxes 190

PYMNTS

JUNE 29, 2020

Valdis Dombrovskis , the EU’s executive vice president of the European Commission for an Economy that Works for People, told attendees of the Digital Finance Outreach 2020 , a series of events for the 27-nation bloc on financial technology companies, that Europe must become the leader in crafting rules for digital finance.

cryptocurrency 221

cryptocurrency Regulation Bitcoin Maine 221

PYMNTS

NOVEMBER 27, 2019

The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo! DLT would also help in terms of cross-border payments, he said.

blockchain 236

blockchain Innovation System Financial Technology 236

PYMNTS

JANUARY 7, 2021

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Under the new regulations, the units would be limited to operating in China’s Chongquing municipal region. China TransInfo Technology Corp.

Groups 141

Groups Regulation Lending Operations 141

PYMNTS

OCTOBER 16, 2019

The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. The fact is that the financial system … is the most heavily regulated part of the economy. He said that regulation is an important aspect of the field.

Fintech 116

Fintech cryptocurrency Regulation System 116

PYMNTS

AUGUST 3, 2020

One financial technology firm currently navigating the process of securing a bank charter is Avanti Financial Group , and as it approaches market launch, Founder and CEO Caitlin Long said the firm is focusing on another area of financial services that has struggled to manage complex regulatory challenges: digital assets.

Payments 294

Payments blockchain System Bitcoin 294

PYMNTS

OCTOBER 9, 2019

A combined lender could be the catalyst to unify Germany’s fractured public banking system. Frankfurt University Professor of Finance Jan Pieter Krahnen told the news outlet that Germany’s public banking system is struggling due to “ossified structures” and redundancy.

Regional 108

Regional Regulation System Financial Technology 108

PYMNTS

OCTOBER 10, 2019

The regulator made the remarks at the Finopolis forum of innovative financial technologies. Not only for technological reasons, but also because it is (difficult) to really estimate what advantages will the national digital currency give, for example, in comparison with existing electronic non-cash payments.

cryptocurrency 108

cryptocurrency National Study Comparison 108

PYMNTS

AUGUST 3, 2018

Getting bogged down in a maze or taking unnecessary risks — the current climate for FinTech in the United States often leaves players with only those two stark choices, according to Bruce Parker, founder and CEO of Modo , which describes itself as a “cloud-based utility” that enables payment system interoperability. Re-examining Tradeoffs.

Fintech 115

Fintech United States Regulation Innovation 115

PYMNTS

MAY 21, 2019

Bundesbank, Germany’s central bank, said increased use of financial technology in the country could present regulators with their biggest hurdle since the financial crisis, according to a report by Bloomberg. “We Supervisors don’t like moving targets.”. percent of all retail sales, while cash payments made up 48.3

Digital Strategies 122

Digital Strategies Cards Technology Regulation 122

PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

Lending 199

Lending Meeting Groups Regulation 199

PYMNTS

OCTOBER 10, 2019

The regulator made the remarks at the Finopolis forum of innovative financial technologies. Not only for technological reasons, but also because it is (difficult) to really estimate what advantages will the national digital currency give, for example, in comparison with existing electronic non-cash payments.

National 100

National cryptocurrency Study Comparison 100

PYMNTS

JULY 31, 2020

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. Department of the Treasury that charters and regulates financial institutions. government, joining just a few recipients since the 2008 financial crisis, Bloomberg News reported.

National 172

National Fintech San Francisco Connecticut 172

PYMNTS

SEPTEMBER 14, 2016

government seems to be accepting the positive impact that digital currencies and blockchain could have on legacy financial systems, according to Business Insider. House of Representatives, asking the government to establish a national policy for technology. A non-binding resolution was passed on Monday (Sept. 12) by the U.S.

blockchain 100

blockchain US Regulation National 100

PYMNTS

OCTOBER 11, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually. Such profiles ensure FIs comply with current regulations and AML standards.

Strategy 123

Strategy Innovation Fraud Security 123

PYMNTS

SEPTEMBER 18, 2019

It also will discuss how to deal with potential problems and challenges that come from using digital financial technologies. 16), global central bank officials met with leaders from both Facebook’s Libra Association and JPMorgan to discuss policies and regulation around new cryptocurrencies. On Monday (Sept.

cryptocurrency 135

cryptocurrency blockchain Policies Groups 135

PYMNTS

FEBRUARY 19, 2019

Mexico’s new government, led by President Andres Manuel Lopez Obrador, is setting its sights on financial technology to get the country out of poverty. The payment system, called CoDi, is slated to launch in March. It’s not clear whether a state system in Mexico will be easy to use.

Fintech 173

Fintech System Mobile Payments 173

PYMNTS

NOVEMBER 3, 2019

The digital asset solutions provider, exchange operator and regulator, based in Malaysia, will also accept all major digital assets listed on SPEZA Digital Asset Exchange. FinTech company SPEZA announced that it will be able to accept China’s Digital Currency Electronic Payment (DCEP), the world’s first sovereign digital currency.

blockchain 101

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PYMNTS

JULY 19, 2018

American Express has filed for a blockchain-based proof of payment technology, and Santander U.K. Traditional banks and other financial institutions are undergoing tremendous pressure right now to compete in an environment where they are faced with enormous scrutiny from government regulators looking to mitigate risk.

Fintech 117

Fintech blockchain Technology Examples 117

Urs Bolt

OCTOBER 17, 2018

Fintech to facilitate inclusive financial system establishment in China, say experts. China could improve its regulatory technologies. For example, implemented in an appropriate way, Blockchain technologies could support the exchange of personal data for client onboarding incl. Regulation. Personal Data.

System 28

System Fintech blockchain Innovation 28

PYMNTS

OCTOBER 16, 2019

Recent scandals involving Deutsche Bank and Swedbank have made consumers reconsider their trust in financial institutions, many of which are scrambling to keep fraudsters out and bring customers back. According to a KPMG study , 63 percent of financial institutions use transaction monitoring based on rules and machine learning.

Compliance 123

Compliance Fraud Study Digital Banking 123

PYMNTS

AUGUST 30, 2016

Singapore’s financial authority said it will look to consolidate existing legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework. MAS will also establish a new National Payments Council (NPC) in Singapore as part of the oncoming reforms.

Fintech 117

Fintech National Regulation Innovation 117

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Information security program and information systems. Risk management policies, processes, and controls.

Community Bank 78

Community Bank Community Fintech Company 78

Bobsguide

JUNE 7, 2016

After news that the Financial Conduct Authority is launching a regulatory sandbox, it poses the question of whether or not financial technology should be regulated and in turn, increases concerns about whether money management systems should be considered financial products or technology.

Fintech 60

Fintech Financial Technology Regulation System 60

PYMNTS

APRIL 16, 2019

“This will also allow us to share experiences and information related to FinTech … and reap the benefits of the new innovation in financial technology, enhance payment systems and promote financial inclusion,” said National Bank of Singapore Deputy Governor Neav Chanthana of the partnership.

Fintech 211

Fintech San Francisco National Innovation 211

PYMNTS

AUGUST 30, 2016

Singapore’s financial authority said it will look to consolidate exiting legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework. MAS will also establish a new National Payments Council (NPC) in Singapore as part of the oncoming reforms.

Fintech 101

Fintech Cyber Security National Regulation 101

Perficient

JULY 11, 2022

Consumer advocate groups and regulators have also brought forth concerns about the ramifications of BNPL existing outside of the normal credit-reporting system. Fintech enthusiasts should also keep a close watch on Apple’s newly unveiled BNPL system, Apple Pay Later.

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PYMNTS

MARCH 16, 2018

The profiles serve as educational materials outlining the lifecycles, security characteristics and relevant laws and regulations for the most common payment types, the Federal Reserve said in a press release. “We They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.

Security 100

Security Payments Boston Fraud 100

CFPB Monitor

JULY 17, 2019

As readers of our blog know, our consumer financial services group has been at the forefront of legal developments involving new technologies. Click here for more information about the team and its experience in providing regulatory guidance, advice on product development and transactions, and handling litigation.

Fintech 60

Fintech United States cryptocurrency Groups 60

Insights on Business

MARCH 12, 2018

During the interview, he describes how we are in the middle of a cryptocurrency “explosion” that is ripe for regulation. He expects regulation in crypto as a matter of when, not if, and the future success or failure of this new form of this volatile currency may very well hinge on how it’s regulated.

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Groups blockchain cryptocurrency Regulation 79

Gonzobanker

DECEMBER 14, 2023

Meanwhile, technology changes continued at a breakneck pace, with generative AI the biggest topic around management tables. The specifics are unclear, but bankers recognized that this will be an absolute game-changing technology in future years, and delivery will change in ways we can’t even conjure yet.

Fintech 194

Fintech Community Regional Technology 194

PYMNTS

NOVEMBER 21, 2018

She continued, “Many national payment systems are benefitting from considerable innovation and change,” adding that cross-border payments “totaled 1.8 … They are at the center of the international finance system, enabling trade, investment and money transfers. times global GDP in 2016.

Payments 123

Payments Innovation National System 123

CFPB Monitor

SEPTEMBER 25, 2019

The House Financial Services Committee’s Task Force on Financial Technology will hold a hearing entitled “The Future of Real-Time Payments,” at 2:00 p.m. on Thursday, September 26, 2019. There will be a live webcast of the hearing. The following witnesses are scheduled to testify: Esther L.

Kansas City 60

Kansas City Kansas Payments Community 60

PYMNTS

JUNE 1, 2020

Any sudden shock to the system like we have observed with the pandemic exposes both vulnerabilities and opportunities, especially for payments. The technological stage has been set for that embrace of digital transactions with a slew of new payment products and services on offer.

Payments 172

Payments Fraud Security Technology 172

PYMNTS

MAY 24, 2019

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. The meetings will usually be held on the second Thursday of the month.

Innovation 124

Innovation US Metro Washington 124

PYMNTS

SEPTEMBER 30, 2016

banking industry a significant head-start in adopting new technologies, progress has been slowed through legislative and licensing hold-ups. It would also give MAS the flexibility to address emerging risks, such as cybersecurity, interoperability, technology and money laundering and terrorism financing.

Fintech 100

Fintech Regional Policies System 100