For years, banks have traditionally controlled every data regarding their customer’s finances, but that is soon to change. Under the new Payment directive, banks are required to make available to third parties the data of their customers albeit on the request of their customers. This will mean that customers...
Consentium Looks To Monetize Cryptocurrency Transfers. Consentium, the first multi-digital currency and group monetization chat application for Asia, was released to the public Jan. 25. The $10 million in funding raised from a private ICO sale will be used to expand to other Asian markets – China, Singapore, South Korea...
The top executive of Reserve Bank said the main focus of their new fintech unit is not high frequency trading but rather to ensure there is a "cohesive view" on fintech. Reserve Bank deputy governor Francois Groepe explained that in the medium to long-term we will have to look at...
The European Banking Authority (EBA) has recently released its opinion on the European Commission’s Fintech Roadmap. Andrea Enria, the EBA’s Chairperson, said his agency will set up Knowledge Hub to make sure EU supervisors share best practices and adopt a technologically neutral approach to the application of new technologies in...
R3 to enhance cooperation by launching LCoE: The blockchain coalition (R3) has opened the legal center of excellence (LCoE) in order to apprise the legal community about the nuances of the blockchain technology. In this center the professionals were briefed about different technologies such as distributed ledger technologies and Corda platform. About...
7 Initial Steps To Launching A Fintech Startup: Technology has touched everything that exists today, and so the financial industry is no exception. The traditional institutions were ingenious enough to realize the strength technology possesses. This provided them with an impetus to polish up their own tech capabilities to remain...
Joint Agreement Could Improve and Lead To More FinTech-Related Enterprises: A joint agreement by the Indian state of Maharashtra government and Singapore’s main bank – the Monetary Authority of Singapore – will lead to possible FinTech enterprises in various areas such as blockchain technology. The pact includes a Memorandum of Understanding...
Fintech firms are mitigating the fighting talk, which manifested the start of the movement where it was evident that they have no other choice but to succeed without seeking help from incumbent banks. Capgemini's World Fintech report draws a conclusion regarding 'fizzling out' of the most talked about Fintech revolution. Moving...
3 Things Fintech Startups Should Learn From Big Tech Companies: Now, it is a norm to hear people saying they are going to leave their jobs in Apple or Google to start their own business in fintech. That’s certainly a course of action that many entrepreneurs are determined to take...
EU Setting Up 23-Step Fintech Action Plan: The European Commission is laying out the particulars of its 23-Step Fintech Action Plan that would provide digital transformation support to the financial services sector. This would also create an EU Fintech Laboratory, which would lay the foundation for regulatory rules and crowdfunding...