Chris Skinner

OCTOBER 6, 2019

As I expected, regulators hate it and are asking lots of questions about it. … The post Facebook has forced the world’s banks to innovate appeared first on Chris Skinner's blog. It’s been interesting to watch the development of Facebook’s Libra project. Most seem to want to ban it.

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PYMNTS

SEPTEMBER 13, 2020

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. The association declined to comment, Reuters reported.

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Chris Skinner

JUNE 8, 2016

Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves … The post America’s banking regulations strangle innovations appeared first on Chris Skinner's blog.

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Regulation Innovation United States America 150

Chris Skinner

JUNE 20, 2017

The post 12 reasons why banks don’t innovate appeared first on Chris Skinner's blog. Jeff threw some slides up, including some that were attributed to me (which helps when you want some blog coverage!), I liked his slides too, so asked Jeff if he could ping them over to me. He did, so here’s his presentation deck.

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Innovation Conference Regulation Fintech 407

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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PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

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Regulation social media Course Apple 352

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

MAY 16, 2019

Jack Ma, the Chinese billionaire and founder of Alibaba, expressed concerns technology companies will be harmed by increased regulation coming out of Europe. CNBC , citing comments Ma made during the Viva Technology Conference in Paris Thursday (May 16), reported Ma said increased rules and laws hurt innovation and restrict tech companies.

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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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Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. An ideal solution combines top-performing analysts with innovative AI. This blog was co-authored by Carl Aridas and Joel Thimsen.

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Industry Regulation Compliance Data 221

Bank Innovation

DECEMBER 18, 2018

A majority of Bank Innovation readers do not believe the results of the November midterm elections will have any impact on regulation pertaining to the fintech industry.

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Regulation Fintech Innovation Industry 210

Payments Source

AUGUST 26, 2020

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

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CFPB Monitor

OCTOBER 27, 2023

On October 13, 2023, the California Department of Financial Innovation (DFPI) published final regulations implementing the Student Loan Servicing Act (“SLSA”) and the Student Loans: Borrower Rights Law. The final regulations are the culmination of two sets of proposed regulations from the DFPI, which we previously covered here.

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California Regulation Innovation 78

PYMNTS

OCTOBER 8, 2020

As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. In addition, Monese adopted Thought Machine’s cloud banking platform. Fusion Reveals Payments Platform Banks. Europe and South Africa.

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Innovation Technology Fintech Payments 301

Chris Skinner

JANUARY 14, 2018

The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.

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Compliance Innovation Conference Regulation 265

CFPB Monitor

JANUARY 18, 2023

On September 9, 2022, the California Department of Financial Protection and Innovation (DFPI) proposed to amend its student loan servicing regulations, which we previously covered here. After reviewing public comments, on January 6, 2023, the DFPI released a Notice.

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California Regulation Innovation 147

Bank Innovation

JUNE 12, 2017

2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum.

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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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Bank Innovation

APRIL 5, 2018

The Japanese Financial Services Agency, or FSA, has signed a fintech letter of cooperation with Swiss regulators the Financial Market Supervisory Authority, the agencies announced yesterday.

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Regulation Fintech Innovation Marketing 230

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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Bank Innovation

JANUARY 18, 2018

While regulations continue to be top of mind for financial institutions, banks have another main concern: the innovations and progress being made by fintechs, according to a survey released by EY.

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Innovation Fintech Report Maine 306

CFPB Monitor

DECEMBER 13, 2022

On December 2, a non-profit advocacy organization filed a lawsuit in a California federal district court seeking to enjoin the California Department of Financial Protection and Innovation (DFPI) from enforcing the final regulations (Regulations) issued by the DFPI to implement.

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PYMNTS

JUNE 25, 2020

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. This MOU with SUNY is a strategic step to diversify and deepen the next wave of innovators in the virtual currency space in New York,” said Lacewell in a statement.

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New York cryptocurrency Regulation Innovation 240

Independent Banker

OCTOBER 31, 2021

Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation.

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Bank Innovation

NOVEMBER 14, 2017

Innovation in this highly regulated field is necessary, and even giants are rising to the challenge and trying to get more customer-friendly, agile or at least aligned to the new standards set by start-ups. Here is a […].

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PYMNTS

NOVEMBER 4, 2020

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. Previously, regulation was very slow in adapting and approving of different technology," he said.

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Bank Innovation

FEBRUARY 12, 2018

Citigroup is setting up an innovation lab in London. s preparation for Brexit, not to mention the new PSD2 regulation that went live some weeks earlier. The decision to set up this lab comes at the heels of U.K.’s Citigroup’s lab will employ 75 tech experts. It will be located in one of WeWork’s shared workspaces […].

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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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Chris Skinner

APRIL 6, 2017

I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors.

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Innovation Marketing Industry Regulation 271

Abrigo

FEBRUARY 27, 2020

Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Our Transparent AI is easy to explain to regulators. . Abrigo Embraces Innovation with Machine Learning Scenarios. learn more.

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Innovation Software United States Compliance 195

PYMNTS

NOVEMBER 26, 2019

In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market.

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PYMNTS

OCTOBER 12, 2020

No matter how innovative they are, companies still need to get paid. And not many companies this year have combined business model creativity with payments innovation more than Beautycounter. While all the innovations and the business awards are nice to have, Renfrew is most proud of her work as a beauty industry activist.

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Perficient

FEBRUARY 10, 2021

While the healthcare industry has long embraced technology, the demand to innovate and adapt quickly has grown exponentially in 2020 and into 2021. This has created an even greater demand for healthcare companies to incorporate more innovative technologies and build custom products to stay competitive within the market.

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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. What’s Next? But please, don’t get cocky.

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PYMNTS

DECEMBER 9, 2020

What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. All of these new FinTechs and digital innovators are changing the landscape as the role of payments rapidly shifts in the broader financial services arena.

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PYMNTS

AUGUST 6, 2020

New technologies and API infrastructures are also leading to rapid innovations in the PaaS space, including quicker payments than ever before. Artificial intelligence (AI) is also driving payments innovations, with a study finding that it could add $1.2 How Customer Expectations Have Driven Payments Innovation.

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Regulation Payments Innovation Fintech 245

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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