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FHFA announces Office of Financial Technology

CFPB Monitor

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. It also solicits feedback on how to maximize stakeholder engagement.

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Why Not All FinTech Providers Are FinTech Firms

PYMNTS

Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.

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Onespan Publishes Top Ten Predictions for 2021 Focused on Financial Technology

Banking Exchange

OneSpan, one of the leaders in Financial Technology, released its 2021 Security and Fintech Predictions The Economy Technology Tech Management Outsourcing/Cloud Mobile Online Cards Branch Technology/ATMs Security Feature3 Fintech Financial Research Feature Financial Trends.

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Financial Technology Company Cross River Raises $100 Million In Funding

PYMNTS

Cross River, a provider of banking services for financial technology companies, has raised about $100 million in a funding round, according to a report by the company. Cross River provides services and solutions for leading FinTech companies. A large portion of the money — $75 million — was from KKR, a global investment firm.

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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. Alkami partnered with Clinc for conversational AI, Atomic for direct deposit switching and FINBOA for payment dispute management. Jack Henry expanded its partnership with SMA Technologies.

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Cambodia, Singapore In X-Border FinTech Pact

PYMNTS

Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions. The Fed And FinTech Firms. As reported, Singapore has been working on other cross-border initiatives as well.

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Federal banking agencies issue final interagency guidance on risk management in third-party relationships

CFPB Monitor

The Federal Reserve, FDIC, and OCC have released final interagency guidance for their respective supervised banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements.