PYMNTS

NOVEMBER 12, 2020

Built on the back of Regulation Crowdfunding under the Jumpstart Our Business Startups (JOBS) Act, Miventure operates as a funding portal to connect SMBs with unaccredited investors, a relatively new paradigm for SMBs used to turning to traditional banks or venture capitalists to back their companies.

Regulation 232

Regulation Capital Marketing Lending 232

PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

Regulation 136

Regulation social media Study Data 136

PYMNTS

AUGUST 6, 2020

In August’s The FI’s Guide To Modernizing Digital Payments , PYMNTS explores the latest in the world of payments modernization, including record numbers of digital payment users in India, high demand for instant payments from corporates as well as consumers, and emerging competition from FinTechs and challenger banks. About The Tracker.

Regulation 245

Regulation Payments Innovation Fintech 245

Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. But please, don’t get cocky.

Regulation 174

Regulation blockchain Marketing Strategy 174

Bank Innovation

DECEMBER 7, 2017

Dubai Financial Services Authority (DFSA) has signed two new agreements with Hong Kong’s regulators to collaborate on fintech innovation. Ian Johnston, chief executive of the DFSA, […].

Innovation 225

Innovation Fintech Regulation Report 225

Chris Skinner

MAY 10, 2017

It shows how important FinTech is when major financial centres vie for focus. London has been leading the charge to be the FinTech capital of the world, but many other cities are nipping at their toes. So I was intrigued to see Hong Kong issue their FinTech strategy today. Does this matter?

Strategy 271

Strategy Fintech Regional Technology 271

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5 million.

Fraud 189

Fraud Fintech Compliance Regulation 189

Chris Skinner

MAY 9, 2017

I got a very interesting heads-up yesterday to a campaign the European FinTech start-ups have kicked off to try and stop the big, nasty banks screwing them with their version of PSD2. These legislative acts foster innovation and drive both competition and choice in the market. accountants, Start-ups etc.…) accountants, Start-ups etc.…)

Fintech 303

Fintech Innovation Leadership Payments 303

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 2 When evaluating a fintech partnership, ask how the vendor will help with integration, training, and ongoing success.

Fintech 195

Fintech How To Innovation System 195

CFPB Monitor

SEPTEMBER 8, 2022

Since the beginning of Michael Hsu’s tenure as Acting Comptroller of the Currency, bank/fintech partnerships have been a focus of OCC concern. Mr. Hsu also raised concerns about unknown risks or “nasty surprises” arising out of bank-fintech arrangements. He advised banks to closely monitor risk and compliance in these partnerships.

Fintech 146

Fintech Risk Management Conference Lending 146

PYMNTS

FEBRUARY 15, 2018

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses.

Washington 101

Washington Regulation Conference Fintech 101

PYMNTS

JUNE 25, 2020

In today’s top news, Wirecard files for insolvency, and New York proposes easing regulations for cryptocurrency licenses. New York To Ease Cryptocurrency Regulations. For the launch, Samsung is linking up with Mastercard and FinTech Curve. Plus, California seeks a court order to make Uber and Lyft classify drivers as employees.

New York 248

New York cryptocurrency Regulation Samsung 248

PYMNTS

MARCH 18, 2020

The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). The agency’s requirements also ask for particular record-keeping and mandate the reporting of information. .

FDIC 142

FDIC Fintech Regulation Industry 142

PYMNTS

MAY 6, 2019

Open banking regulations like PSD2 are forcing many FIs to open up their data to third-party providers (TPPs), causing a wave of changes as its September launch date approaches. If you’re a bank where FinTechs are a big thing – like in the U.S. – Challenges and FinTech Needs. APIs vs. Screen Scraping.

Fintech 185

Fintech Data Security Software 185

PYMNTS

APRIL 16, 2019

Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions. The Fed And FinTech Firms. Separately, in India, API infrastructure firm Setu said last week that it had raised $3.5

Fintech 211

Fintech San Francisco National Innovation 211

Payments Source

MARCH 16, 2021

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs. ]].

Data 153

Data Regulation Fintech 153

PYMNTS

JANUARY 7, 2019

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. According to the banks that have linked with FinTech firms, such guidelines would help relationships between the parties.

Lending 150

Lending Fintech Data Wyoming 150

PYMNTS

SEPTEMBER 25, 2019

In the continued drive for collaboration between the FI and FinTech, between governments and financial services providers, efforts this past week focused on the Middle East and support for new initiatives. Bank account information, as directed by the customer.” The additional support will come from the QFC platform.

Fintech 158

Fintech Innovation blockchain Data 158

PYMNTS

MARCH 12, 2019

Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with filling new positions, to bolster compliance teams at the firm. The data can help these companies make informed decisions about money laundering and potential fraud risk.

Regulation 148

Regulation Fraud Examples Data 148

Bank Innovation

JANUARY 29, 2018

Thanks to European regulation PSD2, users can now authorize CreditLadder to access their banking transactions through open APIs. By accessing information on a user’s transaction history, […].

Fintech 230

Fintech Regulation Online Lending 230

PYMNTS

SEPTEMBER 26, 2016

The FinTech companies are disrupting the industry and are a thorn in the side of the traditional players — banks and credit card companies. Many FinTech startups, like Ripple, are using blockchain to provide cheaper and faster services to consumers. But some banks are competing with the FinTechs. trillion in 2014 to $2.3

Regulation 100

Regulation Fintech blockchain Mobile 100

PYMNTS

JUNE 5, 2020

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

Security 174

Security Fintech Data Fraud 174

PYMNTS

DECEMBER 21, 2018

senators has expressed concerns that FinTech startup Robinhood is not being transparent about its cash management service. Senators have sent a letter to regulators for information on how they “carefully monitor FinTechs who, intentionally or not, blur financial products for a competitive advantage.”.

Fintech 187

Fintech Management Regulation Security 187

PYMNTS

JANUARY 16, 2020

In addition, any firms that carry out crypto asset related activity within the scope of the FCA’s regulations must register with the authority before conducting business. but then of course Brexit looms) must begin regulating cryptocurrency assets with the same regulations that govern banks and other financial firms.

Regulation 132

Regulation cryptocurrency User Experience Operations 132

PYMNTS

NOVEMBER 23, 2020

A recent report released by the United Nations found that 132 out of 194 countries have now introduced data protection regulations of some kind, all varying in terms of what type of information they protect and the severity of their restrictions. Around The Data Protection World.

Industry 298

Industry Regulation Data Study 298

PYMNTS

DECEMBER 19, 2018

“They’re dealing with the need to comply with things like GDPR,” Global Data Consortium (GDC) Co-founder Charles Gaddy told PYMNTS in an interview, adding they can’t take information out of a certain location and only use it for particular purposes.

Company 173

Company Fintech Case Study Regulation 173

Abrigo

JUNE 12, 2023

The money transmitter industry is growing, spiked by advances in fintech and the consumer demand for immediate payment mechanisms. Streamlined compliance : Compliance with varying state regulations significantly burdens money transmitters. alone, handling $6 trillion in payments. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

PYMNTS

MARCH 26, 2019

The Federal Reserve Bank of New York has announced the creation of the Fintech Advisory Group to bridge the communication gap between the FinTech industry and consumer organizations, the organization said in a release. The group members will be picked based on expertise across all FinTech -related issues.

Groups 135

Groups Fintech New York Financial Technology 135

PYMNTS

FEBRUARY 20, 2018

19) that they had inked a deal to collaborate and support FinTech initiatives called the Cooperation Arrangement on Financial Technology Innovation (FinTech Arrangement). According to a press release , the two organizations will support each other’s efforts via the FinTech initiatives LabCFTC and FCA Innovate. and in the U.S.,

Fintech 115

Fintech Regulation Innovation Financial Technology 115

PYMNTS

JANUARY 30, 2020

Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. Mastercard Taps FinTech for Biz Card Boost.

Data 161

Data Fintech Cards Software 161

PYMNTS

JULY 27, 2018

watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. has also sought clarity on regulations as a means to better compete against established banks.

Lending 102

Lending Regulation Fintech Study 102

PYMNTS

JUNE 13, 2018

That growing group of FIs includes Sweden-based FinTech Tink , which offers a consumer-facing digital banking platform alongside a growing B2B API development business. Tink’s API platform was designed to help banks and FIs prepare for the arrival of new regulations as they roll out.

Regulation 115

Regulation Guidelines Tools Data 115

PYMNTS

NOVEMBER 21, 2019

The FinTech unicorn Plaid has rolled out in three more European countries – Ireland, France and Spain – as part of an expansion initiative, CNBC reported on Thursday (Nov. The Silicon-based startup, launched in 2013, uses a unified application programming interface (API) to link FinTech apps with people’s bank accounts. and Canada.

Fintech 117

Fintech Regulation Google Cards 117

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” The Fed’s publication of the paper is another indication of the increased attention that regulators are paying to bank relationships with fintechs.

Fintech 78

Fintech Community Bank Community FDIC 78

PYMNTS

AUGUST 8, 2019

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. Many people living paycheck to paycheck already make more than median income.”.

Puerto Rico 134

Puerto Rico Regulation New York South Dakota 134

PYMNTS

JANUARY 30, 2019

When firms have no reason to question its validity, they can rely on the information provided by the customer or corporate officers. But regulators are now requiring firms to use risk-based policies and procedures to determine a customer’s risk scores and to use risk scores to establish a baseline for transaction and relationship monitoring.

Fintech 185

Fintech Regulation Compliance Policies 185

PYMNTS

NOVEMBER 15, 2016

Marketplace lenders may have to provide more information about borrowers if anything comes from comments from U.S. According to a report by Reuters , White said marketplace loans need to have enough information about the borrower’s ability to pay back the loans. Securities and Exchange Commission Chair Mary Jo White.

Online 100

Online Regulation Regional Lending 100