Tagged: financial services

January 9, 2021 @ 12:23 pm By Omar Faridi  |  

Blockchain security firm CipherTrace recently explained and discussed the differences between virtual asset service providers (VASPs), money service businesses (MSB), money transmitters, digital asset customers, and how they impact crypto-related compliance measures. CipherTrace noted that cryptocurrency, digital assets, convertible virtual currency, and other terms seem… Read More

January 7, 2021 @ 11:58 pm By Omar Faridi  |  

China’s reserve bank stated on January 6, 2021 that it will be making its monetary policy more flexible, targeted and appropriate this year. The country will begin focusing on supporting smaller companies as the Chinese economy tries to recover following the COVID-19 outbreak. The People’s… Read More

January 5, 2021 @ 11:07 pm By Omar Faridi  |  

Switzerland-based SafeSide Life, a digital life insurance solution provider, has teamed up with miira, a comparison platform for enhancing personal retirement planning (that’s powered by PostFinance’s Innovation Lab). Through the partnership, the companies will aim to improve how consumers analyze financial protection requirements and subsequently… Read More

January 5, 2021 @ 8:13 pm By Omar Faridi  |  

Like many other sectors of the global economy, the financial services industry is experiencing what many consider to be a data revolution. The international banking sector (along with other major industries) generates large amounts of user data when handling hundreds of billions of transactions. Data… Read More

January 5, 2021 @ 11:08 am By Samantha Hurst  |  

  TagPay, a France-based provider of a scalable and open core banking system technology specifically for financial service providers, announced on Tuesday it secured a €25 million investment from Long Arc Capital. TagPay reported that through the investment, Long Arc Capital takes a majority stake… Read More

January 4, 2021 @ 11:32 pm By Omar Faridi  |  

The Institute for Development and Research in Banking Technology (formed by the Reserve Bank of India) has revealed that the digital economy sector in India is expected to “double its output as early as 2025.” Digitization in India is expected to lead to “widespread economic… Read More

January 3, 2021 @ 12:55 pm By Omar Faridi  |  

Fintech companies are reportedly urging the UK’s Financial Conduct Authority (FCA) to “break” banks during 2021. A group of London-based startups is asking the FCA to look into ending the control and dominance of traditional banking institutions, specifically their use of consumer data. The companies… Read More

December 28, 2020 @ 10:32 pm By Omar Faridi  |  

Sophie Guibaud, Chief Growth Officer at OpenPayd, a UK-headquartered API-based Banking-as-a-Service (BaaS) provider, notes that Fintech and other industries have had an “extraordinary” 2020. She pointed out that major scandals (like Wirecard) have “rocked the industry,” however, we’ve also seen significant progress that should help… Read More

December 24, 2020 @ 6:52 pm By Omar Faridi  |  

The financial sector is undergoing major technological advancements and changes. Traditional banking institutions now face a lot of competition from online or digital startups that have no physical branches. Social media and other online platforms are branching out into payments and credit. The rise in… Read More

December 23, 2020 @ 11:38 pm By Omar Faridi  |  

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More

December 22, 2020 @ 10:42 pm By Omar Faridi  |  

Fintech has transitioned from the innovation and early development stages of OneConnect’s financial services offering to becoming its catalyst of business growth, according to Ye Wangchun, Chairperson and CEO of OneConnect Financial Technology Co., Ltd. (NYSE: OCFT). Ye‘s recent comments came during the fourth annual… Read More

December 20, 2020 @ 8:31 pm By Omar Faridi  |  

Meltem Demirors, the Chief Strategy Officer at CoinShares, a digital asset management firm, has argued that “as evidenced by the recent corruption of all US systems, from the government to corporate, securing networks is very difficult to do persistently.” 1/ as evidenced by the recent… Read More

December 19, 2020 @ 7:13 pm By Omar Faridi  |  

Citi (NYSE:C) is developing a new marketplace of third-party Fintech platforms and services. The bank has reportedly signed data access agreements to customer-approved accounts with 8 startups and data aggregators. Citi’s clients will be offered a secure way to share their account details with various… Read More

December 19, 2020 @ 3:59 pm By Omar Faridi  |  

Indonesian tech giant has reportedly paid around $159.5 million for shares in an Indonesian bank (PT Bank Jago) – which is part of a major Fintech deal. Gojek is competing with ride-hailing app provider Grab which is also focused on establishing regional Fintech services. Gojek… Read More

December 18, 2020 @ 2:32 pm By Omar Faridi  |  

We recently connected with Omar Arab, EVP of Corporate Business at VeriTran, a leading low-code platform provider for enterprises. Arab talked about how low-code solutions make it easier for everyone, including non-programmers, to create applications for a wide variety of use cases – including banking… Read More

December 18, 2020 @ 8:40 am By Omar Faridi  |  

US-based Wahed Inc, an Islamic-finance Fintech firm that’s backed by Saudi Aramco, is reportedly planning to acquire Niyah Ltd, a UK company that operates a digital banking platform for the Muslim community. Wahed’s management noted that they’re hoping the acquisition will allow them to offer… Read More

December 13, 2020 @ 11:33 pm By Omar Faridi  |  

Switzerland-headquartered F10 Fintech Incubator and Accelerator has reportedly added several different insurance APIs from Baloise, a Swiss insurance holding firm. The APIs are now a part of the F10 Fintech Sandbox. This development aims to support Open Insurance services in the European country. Last year,… Read More

December 11, 2020 @ 2:14 pm By Omar Faridi  |  

Credit Karma aims to offer free credit score tracking and its business was worth billions of dollars to Intuit (NASDAQ:INTU), an American business and financial software firm that provides financial, accounting, and tax preparation software for small businesses. Intuit recently finalized its acquisition of Credit… Read More

December 11, 2020 @ 9:46 am By Samantha Hurst  |  

Solactive, a Germany-based technology-enabled provider of indices and index solutions to the global financial services industry, announced on Thursday it received a €50 million minority investment from global growth equity firm Summit Partners. Founded in 2007, Solactive states it focuses on tailor-made indices across all… Read More

December 10, 2020 @ 8:33 pm By Omar Faridi  |  

Gaelle Olivier, CEO at Societe Generale (EPA:GLE) for Asia Pacific, a French multinational investment bank and financial services company with around €1.3 trillion in assets, argues that traditional banks should not think of Fintechs as direct competition. Olivier, whose comments came during a CNBC interview,… Read More