PYMNTS

AUGUST 6, 2020

Forty-five percent of bank customers said that the way they interact with their bank has changed since the outbreak began, while another 45 percent said they are using mobile wallets. The pandemic has only strengthened the demand for digital payments. Developments From Around The World Of Payments Modernization. About The Tracker.

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Regulation Payments Innovation Fintech 245

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

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Mobile Report America Regulation 229

PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. How Mobile Financial Startups Can Bridge the Security Gap. Deep Dive: How FinTechs, FIs Can Arm Up Against Fraud.

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Security Fintech Fraud Compliance 185

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?

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Strategy Fintech Regional Technology 271

Bank Innovation

JANUARY 12, 2018

EXCLUSIVE – Major European payments regulation, PSD2 is set to go live tomorrow in Europe. The main objective of this new regulation is to level […]. Banks across the European Union have been preparing for the revised Payment Service Directive or PSD2 since it was first passed in 2015 by the Council of the European Union.

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PYMNTS

OCTOBER 16, 2018

In the coexisting — and sometimes colliding — worlds of FinTech and traditional financial services, a bit of collaboration often evolves. As reported by Bloomberg , the regulator at the helm of Singapore’s financials has embraced an effort to “bring together” FinTech firms and banks there.

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Independent Banker

JANUARY 31, 2022

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. of bankers are either strongly interested in or already working with fintechs in digital account opening. The benefits of fintechs. Mobile wallets. Quick Stat.

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Community Bank Community Fintech Risk Management 159

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.

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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.

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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

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PYMNTS

SEPTEMBER 26, 2016

According to FT , online shopping and the adoption of mobile payments have spurred growth in revenues from the payments sector, and McKinsey predicts that global payments revenues will increase from $ 1.8 The FinTech companies are disrupting the industry and are a thorn in the side of the traditional players — banks and credit card companies.

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Bank Innovation

MAY 29, 2018

billion only days before its IPO to major regulations such as GDPR going live last week. Here are some of the important trends that Bank Innovation pulled out of the fintech chatter […]. A lot happened in the digital banking world this month, from major events in the payments worlds like PayPal acquiring iZettle for $2.2

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Trends Fintech Innovation Digital Banking 246

PYMNTS

AUGUST 21, 2019

The Banking & Payments Federation Ireland said it had established a FinTech Foresight Group — further evidence of collaborations between traditional financial institutions and tech upstarts. That series will focus on global technology trends across financial services and how FinTechs and banks can work together across those efforts.

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PYMNTS

APRIL 12, 2019

But FinTechs and financial institutions are increasingly crafting partnerships designed to help them both thrive in this global world of digital payment and commerce. And technology — in this case, mobile point-of-sale technology — can serve as a kind of matchmaker. New Payment Flows.

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Fintech Innovation Mobile Payments 168

PYMNTS

SEPTEMBER 17, 2019

FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced.

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Bank Innovation

JANUARY 16, 2018

The regulation has been dubbed as one of the more substantial regulatory changes of its kind in Europe. EXCLUSIVE – After more than two years of planning, Payments Services Directive II or PSD2 finally arrived in Europe on Saturday. While many traditional banks and FIs might not be thrilled about having to open their APIs […].

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PYMNTS

MAY 25, 2018

After adopting a mobile money system that allows people to make payments and transfers through their cell phones, Kenya has become a leader in financial inclusion. To ensure that lenders are fair to their customers, the country’s finance ministry has drafted a financial regulation bill that includes digital lenders.

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Regulation Lending Mobile Course 101

Bank Innovation

DECEMBER 7, 2016

Year-old Citi Fintech, the digital banking sub-brand of Citigroup Inc., That may seem like a long time by startup reckoning, but it’s not so bad for a (gigantic, regulated, global) bank. The unit announced Monday that it had built a new mobile experience for Citigold card members Read More. has launched its first product.

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PYMNTS

DECEMBER 27, 2018

It may be conventional wisdom to assume that banks and FinTech firms are on opposite ends of the financial services spectrum, where large, asset-rich, traditional financial institutions (FIs) stand in stark contrast to small, bootstrapped tech upstarts, competing for clients’ attention and spend. The Strategy of Process.

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PYMNTS

DECEMBER 8, 2019

Firms like Google, Alibaba and Facebook could be forced to share data with banks and FinTech firms. Banks are required to share customer data with rival FinTech firms, and “this may need to be the case with Big Tech, too,” the FSB said in the report. “Big

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PYMNTS

AUGUST 29, 2019

The twist is, that gap in small business banking innovation led external FinTechs to step in and today, small business banking is a highly competitive, and highly innovative, area of financial services. In India, Visa recently announced a partnership with FinTech Open to introduce new small business banking services. Now, the U.S.

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PYMNTS

SEPTEMBER 15, 2020

Plus, Liberia-based Lonestar Cell is joining forces with WordRemit for mobile remittances. US FinTech Change Financial To Buy Wirecard Australia, New Zealand For $5.7M. The American FinTech noted in a filing that it purchased the parts of Wirecard for $5.7 UK Regulator Ends Half Its Money Laundering Probes Without Prosecuting.

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Mobile Payments Fintech Regulation 136

PYMNTS

JANUARY 28, 2020

Everyone knows that digital and mobile services are key to success in the 2020s — not only in terms of more revenue, but also larger transformations. It’s not that banks don’t want to go more digital and mobile, he said. They are heavily regulated and require heavy investment,” both in terms of capital and human resources.

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Fintech Digital Strategies Mobile Resources 169

PYMNTS

DECEMBER 11, 2019

When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model.

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Fintech Lending Regional Regulation 144

PYMNTS

JULY 21, 2020

s FinTech sector. Independent Panel To Review UK’s FinTech Sector. s FinTech sector is planning a review of the industry to identify opportunities for growth. New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap. In today’s top news, Adevinta agrees to buy eBay’s classifieds division for $9.2

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PYMNTS

NOVEMBER 25, 2019

MiddleGame Ventures has launched a new €150MM fund targeting FinTech investments in Europe and North America. Patrick Nickels, the chairperson of the Luxembourg Future Fund board of directors, added that the fund would bolster emerging FinTech firms and make the overall industry stronger. “We

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PYMNTS

NOVEMBER 13, 2018

APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. Such is the case in cash flow management, according to Chief Commercial Officer Simon Lyons of The Slide App , a new mobile tool rolled out by virtual account management solutions provider Cashfac.

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Data Fintech Mobile Analysis 184

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. Varo is the first consumer FinTech to receive a new national bank charter from the U.S.

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PYMNTS

JANUARY 13, 2021

In today’s top payments news around the world, Globe Fintech Innovations has landed $175 million in additional venture funding, while Airtel has teamed with Amazon to launch a mobile-only video entertainment platform. Mobile Wallet Provider Mynt Pulls in $175 Million in Funding.

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Video United States Mobile Payments 130

PYMNTS

DECEMBER 23, 2020

That arm of the financial technology (FinTech) giant offers a virtual credit card. Ant Group is best known for its wildly popular payment and loans app Alipay , which has both online and mobile platforms. Chinese regulators are looking to strengthen the rules for FinTechs. The company did not elaborate.

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PYMNTS

MAY 30, 2018

Banks, he noted, have to be compliant with a host of extremely stringent regulations, and often across multiple jurisdictions – all with different rules. And, he noted, banks and FinTechs are going to need time to negotiate their relationships with each other, and with consumers the world over. Why Banks Need FinTechs.

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Fintech Regulation Compliance Innovation 160

PYMNTS

JUNE 5, 2020

Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. Such vigilant security means FinTechs must vet new customers and continually review existing ones for changes in their money laundering risk, he said.

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Security Fintech Data Fraud 174

PYMNTS

SEPTEMBER 11, 2019

Make that leather wallet a mobile one, wielded on smartphones. As many as 72 percent of bridge millennials say mobile apps are important for accessing bank accounts. Last week, money transfer company B2B Pay said it plans to become a regulated financial institution and is raising money to pursue licensure. Kill the check.

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Digital Banking Millennials Mobile Regulation 160

PYMNTS

SEPTEMBER 3, 2018

The latest global FinTech collaboration ties together Singapore and Dubai in a deal designed to encourage innovation in digital payments, online and mobile commerce, and related areas. The deal between the two countries comes as other global FinTech partnerships are being formed. The FinTech is Finserve Africa.

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PYMNTS

FEBRUARY 26, 2019

centered on collaboration between FinTechs and traditional banks. 25) that in South Korea, the financial regulator there (known as the Financial Services Commission) is encouraging the creation of an interbank payment network that will allow access to banks and FinTechs. Open banking may foster talk in Europe and the U.S.

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Bank Innovation

APRIL 29, 2016

Why are fintech startups different from other tech startups? Many people would answer regulations, and that’s certainly part of the story. Banks want fintech to be regulated to level the playing field, and fintech companies want regulation to make working with banks easier.

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Bank Innovation

FEBRUARY 4, 2019

That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe. On Tuesday and Wednesday, about 3,000 entrepreneurs, investors, bankers, and regulators descended on the neo-classical Palais Brongniart, once home to the stock exchange. Crypto fever has truly broken.

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