The lies spread by bankers about cryptocurrencies
Chris Skinner
MARCH 19, 2018
I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.
cryptocurrency Financial Technology Fintech 
FHFA announces Office of Financial Technology
CFPB Monitor
AUGUST 1, 2022
On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.
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Trending Sources
OCC’s New Office of Financial Technology Portends Increased Supervisory Activity
CFPB Monitor
NOVEMBER 7, 2022
The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.
FinTech Startup Revolut Raises $80M In New Funding, Now Valued At $5.5B
PYMNTS
JULY 24, 2020
Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking. While Revolut has emerged as one of the biggest players in the crowded FinTech sector, it has yet to make a profit. with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co.,
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BOE Head Carney: FinTech Won’t Make Central Banks Obsolete
PYMNTS
OCTOBER 16, 2019
The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. Carney said he is open to Facebook’s Libra cryptocurrency, unlike officials in France and Germany , who have outright said they don’t want it to happen.
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Crypto 2020: One Step Up; Two Steps Back
PYMNTS
DECEMBER 24, 2020
If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Building The (Retail) Use Cases.
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Financial technology needs rules of engagement
Payments Source
NOVEMBER 13, 2018
Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.
Fintech and Blockchain: Where Silicon Alley Meets Hyperconverged Infrastructure
Bank Innovation
MAY 3, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan.
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What happened to the bitcoin bubble?
Chris Skinner
JULY 18, 2017
Now that it has burst, the interview seems quite prescient so, here it is … UBS interview with Chris Skinner Cryptocurrencies – digital currencies based on encryption – are in the midst of a bubble, but that should not overshadow the genuinely transformative change that is taking place within the financial services industry.
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How quantum will change everything (including banking, money and security)
Chris Skinner
MARCH 21, 2018
I know that we deal with quite complicated things in financial technologies.
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Mastercard Adds More Startups To Its Accelerate Program
PYMNTS
AUGUST 12, 2020
Mastercard is expanding its Accelerate financial technology (FinTech) portfolio and is adding 11 companies to its Start Path startup engagement program, according to a Wednesday (Aug. The company said its efforts recognize “the important role FinTechs play in the world’s rapid digital transformation.”. 12) announcement.
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Ballard Spahr creates cross-disciplinary fintech team
CFPB Monitor
JULY 17, 2019
As readers of our blog know, our consumer financial services group has been at the forefront of legal developments involving new technologies. Our Banking and Financial Services and Retail industry groups add further depth and specialized knowledge.
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Kenya CMA drafts Sandbox Rules to test Bitcoin and other Fintech
Bankelele
JUNE 29, 2017
Kenya’s Capital Markets Authority (CMA) has proposed rules to create a regulatory fintech sandbox for innovations which do not fit within the country’s current financial regulatory framework. The post Kenya CMA drafts Sandbox Rules to test Bitcoin and other Fintech appeared first on Bankelele.
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ACI Worldwide, Mastercard Join Together To Ramp Up Real-Time Payments
PYMNTS
SEPTEMBER 29, 2020
He added that the new partnership “will provide great benefit not only to banks and central infrastructures” but to merchants, their customers and financial technology companies (FinTechs). In July , ACI added new services that will help to speed up real-time payments, a press release said.
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Wirecard Collabs To Digitize Business Banking In Philippines
PYMNTS
MARCH 2, 2020
Germany-based FinTech services firm Wirecard is partnering with the Union Bank of the Philippines to improve banking services for corporate customers, Wirecard announced on Friday (Feb. Fajardo added that the partnership will empower businesses by offering financial services that will help them create a positive economic impact. “As
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SMB Challenger Banks A Hot Spot With VCs
PYMNTS
FEBRUARY 15, 2019
challenger banking market saw a flurry of venture capital (VC) activity this week, as FinTech firms aim to disrupt small business (SMB) financial services (FinServ). Compliance startup Chainalysis works with law enforcement officials and financial institutions (FIs) to ensure that their cryptocurrency operations are within regulations.
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Bitcoin Daily: People’s Bank Of China To Certify Digital Payment Products; Korean Security Agency Supports Blockchain Projects With $9M Fund
PYMNTS
OCTOBER 30, 2019
The People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services. Blockchain’s future is here, but we must remain rational,” he said, according to state-run news outlet the People’s Daily. billion won (about $9 million US) in funding.
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The Impact of Technology on Banking: Revolution or Evolution?
Bank Innovation
JANUARY 2, 2019
All that is changing due to emerging technologies. The banking industry is facing many unprecedented challenges due to the rise of financial technology companies. For quite a long time, traditional brick and mortar banks only had to worry about making money and being profitable.
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The Finanser’s Week: 6th March – 12th March 2017
Chris Skinner
MARCH 11, 2017
As referenced in my R3 fake news last week, there are various camps out there fighting for the cryptocurrency crown. It sheds light on where challenger banks and financial technology (fintech) firms can make ground on the established banks. The lead runners are bitcoin and Ethereum, and both have serious backing.
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France’s Central Bank Latest To Ponder A Digital Currency
PYMNTS
NOVEMBER 27, 2019
It started a FinTech-targeted Innovation Hub this month, saying that the hub should “foster international collaboration among central banks on innovative financial technology.” . The ECB has been open to the idea, and could already be experimenting.
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Fintech to facilitate inclusive financial system in China, say experts
Urs Bolt
OCTOBER 17, 2018
Fintech to facilitate inclusive financial system establishment in China, say experts. Leveraged by tremendous customer data, Chinese Fintech companies have an edge over their Western counterparts in innovation applications.”. China could improve its regulatory technologies. Cryptocurrencies. Financial Services.
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28 State Bank Regulators Launch Single-Exam Plan for Multistate Money Transmitters in wake of OCC’s Payments Charter Proposal
CFPB Monitor
SEPTEMBER 24, 2020
Money transmitters, payments firms and cryptocurrency companies licensed in 40 or more states would be covered by the program, to be known as “MSB Networked Supervision”. Currently, there are 78 companies that meet this threshold.
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The 2023 GonzoBanker Awards
Gonzobanker
DECEMBER 14, 2023
Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. The only direction now is scale, scale, scale!
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Trends Driving the Financial Services Industry in 2019
Jack Henry
DECEMBER 28, 2018
With rapid-fire changes in how we invest, borrow and save; how financial institutions control risk; and how financial institutions (FIs) analyze data and control lending, the financial technology, or fintech, market is bringing significant disruption to the $8.5 financial services industry. trillion U.S.
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60 SPEZA To Accept China’s New Sovereign Digital Currency
PYMNTS
NOVEMBER 3, 2019
FinTech company SPEZA announced that it will be able to accept China’s Digital Currency Electronic Payment (DCEP), the world’s first sovereign digital currency. And just last week, the People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services.
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101 Transformation Time Bomb?
Independent Banker
FEBRUARY 24, 2016
Three ways millennials could accelerate FinTech trends in 2016. When it comes to finance, millennials are a generation known to be conservative in spending and distrustful of financial institutions. Thus, it’s not shocking that millennials are a driving factor in the growing financial technology, or FinTech, movement.
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3 Strategies Goldman Sachs can use to build a Fintech powerhouse
Lex Sokolin
MAY 25, 2020
There are, all of a sudden, a lot of deals being done across financial technology. The world is changing, prices are collapsing, and people are going on about mobile apps and cryptocurrencies. You are forgiven for not remembering all my favorite Fintech minutiae. Wealthtech is one fire, they say now. Here’s a reminder.
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Can Moscow Overcome A Tarnished Tech Reputation?
PYMNTS
NOVEMBER 11, 2016
A renewed focus has been placed on researching and testing blockchain applications, as well as pushing the development of information and financial technology within the country, The CoinTelegraph reported. “It s recent exit from the EU, Moscow may throw its hat into the race to replace London as the FinTech capital of the world.
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Core Unicorn Deals Rattling the Future of Financial Technology
Gonzobanker
MARCH 9, 2022
The unicorns of core banking systems have been running wild the past few weeks, and these frothy deals signal a future shift in how executives should view the world of financial technology. billion (~30 times revenue) in stock was part of SoFi’s ambitious vision to become the “AWS of Fintech.”
Evolution through digital reinvention in banking
Insights on Business
JUNE 14, 2018
Is it smartphone-carrying merchants; other advancements in technology like AI, data science and cognitive computing or new ways companies and individuals can conduct business by circumnavigating bank involvement with decentralized digital assets such as cryptocurrencies? The simple answer is: all of the above.
Digital Currency Eyes Wholesale — Not Retail — Payments Down Under
PYMNTS
JANUARY 20, 2020
With further distancing from the retail environment, the paper stated that there might be “little demand” by households because “they already have good access to digital money in the form of commercial bank deposits that provide payment services, are interest-bearing and are protected (up to $250,000 per account) by the Financial Claims Scheme.”.
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219 MEDICI now! The Payza Story
Let's Talk Payments
AUGUST 11, 2017
Startup Stories highlights the companies that are shaping the new financial technology industry. MEDICI now! Keep an eye out each week for new stories! If you or someone you know.
Sorting the Hype Cycle
Filene
MAY 18, 2017
Filene's Center for Emerging Technology hosted their first annual colloquium on the hype around financial technology. Middleton , PhD Student: The Art of FinTech Decision Making - Disruption in financial services is being driven by changes in the FinTech industry itself and the nature of technology.
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Fintech Fundings: 13 Companies Raise $900 Million Week Ending Nov 12
Fintech Labs Insights
NOVEMBER 12, 2015
It was a quieter week in fintech fundings. Other than Blackstone’s $820 million bet on what is likely the oldest financial technology company on the planet, NCR founded in 1884 as National Cash Register, just $82 million flowed to the under-100-year-old crowd. ATMs, POS & financial technology.
The absurdity of how the Internet and memetic infection of Finance
Lex Sokolin
AUGUST 25, 2020
Some of you are working on building a new Fintech company, using the leverage of Silicon Valley to remake an economic order under new rules. Software companies are realizing that monetizing through financial products can double or triple their total addressable market. Whereas Fintech is a bridge?—?trying Bain and Andreessen.
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52 Companies ‘Pivoting To Blockchain’ See Huge Stock Spikes — But Does The Hype Hold Up?
CB Insights
MARCH 27, 2018
Industry: Fintech. Overstock further extended its blockchain focus just a few weeks after the tZero ICO announcement, via subsidiary Medici Ventures, which led a seed funding round to blockchain-enabled mobile voting platform Voatz , another indication of the company’s interest in fostering diverse use cases of blockchain technology.
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48 Why Australia’s Digital Coin Efforts Target Wholesale — Not Retail — Payments
PYMNTS
JANUARY 20, 2020
With further distancing from the retail environment, the paper stated that there might be “little demand” by households because “they already have good access to digital money in the form of commercial bank deposits that provide payment services, are interest-bearing and are protected (up to $250,000 per account) by the Financial Claims Scheme.”.
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Fintech Fundings: 23 Companies Raise $120 Million Week Ending Oct 30
Fintech Labs Insights
NOVEMBER 2, 2015
In total, 23 fintech companies raised more than $121 million including Finovate alums Spreedly which brought in $2.5 Clarus Financial Technology. The post Fintech Fundings: 23 Companies Raise $120 Million Week Ending Oct 30 appeared first on Finovate. mil), iSignThis ($10.5 mil) and Zebit ($10 mil). Source: Crunchbase.
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How Have the Finovate Best of Show Winners Fared?
Fintech Labs Insights
AUGUST 22, 2024
And many of those winners have gone on to become successful fintech companies or be acquired by one. FinTech Insights by Scientia: Providing fintech market data, seen increased subscriptions from enterprise clients. Horizn: Continues to excel in digital adoption platforms for financial services, expanded to additional markets.
The Future Of Payments Beyond The Pandemic
PYMNTS
JUNE 1, 2020
In a roundtable discussion, the last in the “Powering the Digital Shift” series with Karen Webster, six experts in money movement, fraud prevention, banking and financial technology discussed one sure bet: “Digital optional” is no option as we move toward contactless commerce.
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172 Canadian Firm Fintech Select Launches ‘Physical Bitcoin’ Product
Bank Innovation
JANUARY 2, 2018
Fintech Select, a financial technology firm based in Canada, has created a “physical bitcoin” product to pair with its “Selectcoin” cryptocurrency POS platform, the company said.
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FinDEVr APIintelligence
Fintech Labs Insights
JULY 29, 2015
Are you building new financial technology? Be sure to register soon for the only event exclusively for fintech developers, FinDEVr 2015 , October 6-7 in San Francisco. Let’s Talk Payments looks at how the financial services industry is learning to love the blockchain.
The Periodic Table of Tech In Canada
CB Insights
JULY 1, 2018
The periodic table includes Canada’s only current unicorn company, the social messaging platform Kik Interactive , which launched its own Ethereum-based cryptocurrency in 2017. AR/VR : Augmented/Virtual reality companies include AdHawk Microsystems , which creates eye-tracking technology to solve problems faced by AR/VR manufacturers.
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Canadian Fintech Market Map
CB Insights
NOVEMBER 21, 2019
Finally, looking at Canadian “fintech” (financial technology) specifically, funding was up substantially in the first half of the year. Canadian fintech companies raised $251M through the end of H1’19, nearly double the $133M raised in H1’18. The 2019 Canadian fintech market map. digital collectibles”).
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