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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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Galileo Financial Technologies adds 3D Secure to improve fraud protection

The Paypers

Galileo Financial Technologies has announced the launch of Galileo 3D Secure (3DS) Access Control Server (ACS) to help clients against cars-not-present (CNP).

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Germany’s Central Bank Says Tech Presents Hurdles, Opportunities

PYMNTS

Bundesbank, Germany’s central bank, said increased use of financial technology in the country could present regulators with their biggest hurdle since the financial crisis, according to a report by Bloomberg. “We Supervisors don’t like moving targets.”. percent of all retail sales, while cash payments made up 48.3

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Generation Life launches lifetime annuity solution using GBST’s Wealth Management technology

Bobsguide

Generation Life CEO, Grant Hackett OAM , said: “Working together with the GBST team, we have been able to improve and expand our financial technology capabilities to allow us to build out an innovative solution for the retirement income market.

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Emergent Technology Buys Interpay To Get Access To Africa

PYMNTS

Emergent Technology, the financial technology company, announced Thursday (Dec. In a press release , Emergent Technology said that by acquiring Interpay, it will extend the operations of its digital payments business, Emergent Payments, into 70 emerging markets. Africa presents incredible eCommerce growth opportunities.

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Joint Guidance Provided to Banks to Manage Risks Associated With Third-Party Relationships

Perficient

However, in what is sure to be a landmark in federal regulation, on June 6, 2023, the primary federal bank regulatory agencies issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies.

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OCC misstep, generative AI: Top tech news for November 2023

American Banker

Top tech news in November: The Office of the Comptroller of the Currency's appointee to the Office of Financial Technology comes into question, Mint's closure presents opportunities for banks, bank and fintech leaders look towards generative artificial intelligence for innovation and more.