Bank Innovation
FEBRUARY 6, 2018
The Hong Kong Monetary Authority has released draft guidelines for virtual banks looking to set up in the region, the South China Morning Post reported today. The authority, which will issue its final guidelines on the matter in May, is proposing that virtual banks will need to have a minimum of $38.6 million U.S.,
PYMNTS
NOVEMBER 13, 2018
Collaboration amid competition has been a hallmark of the financial services space, as traditional financial institutions (FIs) join forces with FinTech startups. The group, to be known as Alloy Labs Alliance, according to a press release , is being managed by FinTech Forge. Guidelines From The UK. and MarketInvoice.
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PYMNTS
NOVEMBER 29, 2018
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). As previously reported, Saudi Arabia has trained sights on FinTech as well, specifically in Riyadh.
PYMNTS
MARCH 6, 2018
s exit from the bloc next year, the EU’s executive is set to propose a draft law aimed at boosting the FinTech market throughout the region. The proposed law would bypass the mixture of regulatory approaches FinTech firms currently have to deal with, as well as review how firms handle cybersecurity and cyber threats.
PYMNTS
AUGUST 28, 2019
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.”
PYMNTS
MARCH 20, 2018
Regulators from around the world are teaming up to create a blueprint for a global FinTech “sandbox.”. Woolard went on to reveal that the FCA’s sandbox, which is the first of its kind, has worked with 70 FinTech firms – and 90 percent of those in the first round of applications made it to market and were able to easily raise money.
PYMNTS
JULY 4, 2018
FinTech startups and big tech may provide competition for established banks that have bad loans on the books, The European Banking Authority (EBA) said on Tuesday (July 3). And, while London has served as Europe’s primary FinTech center, Brexit could change that: The U.K.’s s exit from the bloc next year.
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