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Fintechs Face Heightened Hurdles to Gain and Retain Fed Access

CFPB Monitor

The Board of Governors of the Federal Reserve System recently issued and invited public comment on proposed guidelines to be used by Federal Reserve Banks to evaluate requests for master accounts and/or access to Federal Reserve Bank (Fed) financial services, in order to support a more “transparent and consistent” approach to such requests.

Fintech 78
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Bitcoin Daily: Signal Messaging App Testing Crypto Payments; Gemini Adds 20 Tokens To Exchange; SIA, WizKey Partner For Credit Market Based On Blockchain

PYMNTS

In other news, European FinTech SIA is partnering with WizKey to create a platform to allow credit negotiations on blockchain for banks, financial operators and funds, according to a press release. Diokno, Philippines’ Central Bank (BSP) governor in the release.

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Fed Casting Wary Eye On FinTech Firms’ Infrastructure Access?

PYMNTS

As FinTechs eye growth, and look to gain scale by providing more “mainstream” financial services, might those plans hit a speed bump when it comes to the infrastructure needed to bring products to the masses? I am concerned that FinTech will be the source of the next crisis.”. In Asia, Examining Cross-Border FinTech.

Fintech 148
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Opportunities in Partnership: Community Banks Can Benefit from Today’s FinTechs

Independent Banker

However, data from PwC shows that community banks are finding complementary partnerships that evolve their operations and the service they provide customers. Over the next 3-5 years, 82% of financial institutions expect to increase their partnerships with FinTechs, with an average return on investment of 20%.

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Data Sharing, XaaS Target SMB Financing Efficiencies

PYMNTS

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Data 167
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How banks use bank-as-a-platform to modernize apps with cloud

Insights on Business

It’s this digital-agility layer that would connect to the internal core systems as well as provide external APIs to connect various fintech solutions and other financial institutions within an open banking platform approach.

Meeting 111
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Our live five for 2017

Tomorrow's Transactions

The focus on APIs increased through the year and not only for the interfaces to 3rd parties but also as a mechanism for restructuring internal processes and operations. The NIST guideline goes on to talk about using push notifications to applications on smart phones, which is how we think it should be done. We got this one right.

Mobile 30