PYMNTS

MARCH 17, 2019

The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. China has become an emerging FinTech market due to its expanding middle class, rapid digitization and electronic payments adoption.

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Regulation Fintech Phoenix Risk Management 192

Chris Skinner

AUGUST 9, 2017

As a regulatory body, they have decided that they need to take action on FinTech, and are asking for input on what action to take. The EBA is taking forward work … The post Shape the future of European FinTech regulations appeared first on Chris Skinner's blog.

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Regulation Fintech 190

PYMNTS

FEBRUARY 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

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Regulation Fintech Community Bank Community 147

Chris Skinner

FEBRUARY 28, 2019

One of the things I say fairly often is that the FinTech start-up community is fairly naïve. Not all, but many, do not understand the nuances of finance and why it is regulated the way it is.

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PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

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Chris Skinner

SEPTEMBER 15, 2019

For all the talk about how well FinTech start-ups are doing, I hear two regular laments from bank CEOs. First, why aren’t we valued like FinTechs? and second, why aren’t FinTechs regulated like us.

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Fintech Regulation US Digital Banking 358

PYMNTS

JANUARY 4, 2017

FinTech firms operating in Indonesia and running peer-to-peer lending businesses may face new regulations from the Indonesian Financial Services Authority (OJK). What’s important is they get onto our radar because we don’t want to regulate the prudential aspects hastily.

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Regulation Fintech Guidelines Capital 128

PYMNTS

MAY 29, 2017

FinTech has no doubt changed the face of the financial services industry in the U.S., but experts are beginning to question how it will impact regulation. Reports in Reuters on Friday (May 26) explored how industry players are examining the future of financial regulation as FinTech continues its disruption.

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Bank Innovation

APRIL 24, 2017

Fintech has another cousin. The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation.

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Bank Innovation

JUNE 1, 2016

Today marks the official start of France’s new fintech regulatory division. The Autorité des marchés financiers (AMF), France’s financial regulator, has a job ad on LinkedIn for a “Chargé de mission” for the new fintech division. It Read More.

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Regulation Fintech Compliance Innovation 150

Bank Innovation

APRIL 16, 2020

EST, Bank Innovation will host a Zoom meeting for subscribers titled “Regulators’ and Financial Institutions’ Pandemic Responses: What Do We Know, What Can We Know, and When Can We Know It?” On Tuesday at 12 p.m.

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Meeting Regulation Innovation Fintech 273

Payments Source

SEPTEMBER 24, 2020

But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation. The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard.

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Regulation Fintech Innovation 144

Bank Innovation

MARCH 22, 2017

Regulation is still shaping banks’ strategic thinking, says a new study by The Economist Intelligence Unit. In North America regulation was the top concern. The unit surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020.

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American Banker

MARCH 29, 2024

The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintechs' compliance with the Bank Secrecy Act and money laundering rules.

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FDIC Fintech Compliance Regulation 94

Chris Skinner

FEBRUARY 24, 2017

Apparently, people like it and here I’m going to expand upon the basic theme to give a detailed analysis of how FinTech wings are spreading. There’s been a lot of talk about fintech lately. In fact, saying ‘fintech’ is like saying ‘retailer.’ So, here is the FinTech Wave, Part One.

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Fintech Regulation Technology Analytics 342

Bank Innovation

JANUARY 17, 2019

regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. This newfound attention is compelling the biggest names in fintech to prioritize a part of their business that’s often ignored.

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Regulation Fintech Compliance Financial Technology 150

PYMNTS

DECEMBER 6, 2020

The proposed regulations from the Competition and Markets Authority (CMA) are expected within the next few weeks and are almost certain to guide the actions of a newly announced government digital watchdog, FT reported. FT quoted an unnamed government spokesman saying of upcoming new regulations: "We are committed to making the U.K.

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PYMNTS

DECEMBER 10, 2018

CoinGeek reports that the Swiss financial regulator (specifically the Federal Council of the Swiss Financial Market Supervisory Authority) last week has put in place rules that would allow FinTech startups to accept public deposits to up to the equivalent of $100 million USD which reflects a bid to increase innovation in the sector.

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PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

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Regulation Fintech cryptocurrency Bitcoin 133

Chris Skinner

SEPTEMBER 1, 2017

Before 2010, I was writing a lot about technology but it was all heavily geared towards regulations. MiFID and PSD were top of mind, along with Basel III and other global, European and domestic regulations. I wrote a lot about regulations. It was pretty dull, to be honest, but worthy.

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Regulation Technology Digital Banking Innovation 343

Chris Skinner

NOVEMBER 3, 2017

I was thinking about this question of how to regulate global technology platforms that don’t recognise national boundaries, mainly in the context of crypto and digital currencies. How can you regulate a global currency that has no view of state or national laws?

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Bank Innovation

FEBRUARY 26, 2018

The Australia and New Zealand Banking Group (ANZ Banking Group) announced an investment in fintech startup Data Republic as the bank readies for new open-banking regulations from the government. Terms of the investment were not disclosed.

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Bank Innovation

APRIL 29, 2016

Regulators have certainly kept a close eye on fintech upstarts. Last month, the Financial Stability Board (FSB) – comprised of 20 world economies – came together in Tokyo to establish a framework and assess the potential of fintech startups “disrupting” traditional banking.

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Regulation Fintech How To Compliance 150

PYMNTS

JUNE 7, 2018

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering. It was the second major case new CEO Matt Comyn settled with regulators in a month, following an admission of rate manipulation.

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PYMNTS

NOVEMBER 4, 2020

Some FinTech leaders say that this lack of modernization is at least partly to blame for the estimated $1.5 Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age.

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PYMNTS

MARCH 20, 2018

Regulators from around the world are teaming up to create a blueprint for a global FinTech “sandbox.”. Later this week we start work with interested regulators, including colleagues across Europe, the U.S. The law would enable the FinTech sector to grow through crowdfunding and common blockchain technology standards. “An

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Regulation Fintech Regional Guidelines 130

PYMNTS

FEBRUARY 20, 2018

It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. According to Reuters , traditional banks will feel the impact if FinTechs start offering services such as payments, crowdfunding, mobile banks and online trading.

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Regulation Fintech Training Innovation 101

Payments Dive

OCTOBER 13, 2022

Patrick Collison, who founded the company with his brother, gave an edge to the European Union in creating a regulatory regime where fintechs are thriving.

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PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. According to the results, banks argue that innovation, not just regulation, is behind the wheel of progress. Optimism Up.

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Regulation Innovation Fintech Marketing 156

American Banker

NOVEMBER 9, 2023

Speakers at DC Fintech Week highlighted ways forward for regulators to keep pace with artificial intelligence, such as by setting up "guardrails" before guidelines.

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Regulation DC Guidelines Innovation 85

PYMNTS

DECEMBER 16, 2020

According to Mexican regulators, the two companies in charge of the country's credit and debit settlements represent "a near monopoly," and big businesses need to sell shares in those companies, the Associated Press (AP) reported. In addition, Mexican payment systems often break down and make it more difficult to use cards.

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PYMNTS

JANUARY 15, 2021

After having its $37 billion dual IPO pulled by Beijing, Jack Ma’s Ant Group is working fast to overhaul operations to comply with government regulations, The Wall Street Journal reported on Friday (Jan. Chinese financial regulators called Ma and his leadership team to answer questions on the eve of the company’s stock market debut.

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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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Regulation Payments Maine Compliance 337

American Banker

JUNE 12, 2023

and Canada don't develop a coherent framework for regulating the industry, North America risks broader losses to other growing industries, like fintech and artificial intelligence. If the U.S.

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Regulation Innovation America Fintech 85

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.

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Regulation Payments Innovation Fintech 245

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.

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PYMNTS

AUGUST 7, 2018

Regulators from the U.K., 7) a new alliance aimed at encouraging the growth of FinTechs. is among the first countries to introduce a FinTech sandbox , and now it wants to expand the effort. The Global Financial Innovation Network will be made up of 11 other regulators, including the U.S.

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Regulation Fintech Policies Innovation 100