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Technology

Ant Financial Launches B2B Fintech Suite With Blockchain, AI Solutions

Ant Financial Services Group, the payments and financial services arm of Chinese e-commerce giant Alibaba, has launched a new suite of fintech products and services targeted at financial institutions and banks.

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Global Standard for Crypto AML in the Works

The leader of the global anti-money laundering (AML) task force said he was optimistic that it is closer to establishing worldwide standards that apply to virtual currencies.

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Financial Industry Standards Body Releases Rules Aimed at Tightening Mobile Security

Mobile payments are booming in places like China and India, but in the United States, not so much. Year after year, one reason that keeps popping up in surveys is concerns about security, and on Tuesday a major standards body announced a measure aimed squarely at those fears. The Accredited Standards Committee X9 Inc., an […]

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Will BoA Give B2B Mobile Wallets a Boost?

Polished shoes and nice jacket? Check. Laptop? Yep. Business cards and document pouch? Got it. Company-issued plastic? Ha Who needs that? A successful business trip depends on preparation, and that includes payments.

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Industry

Data: Same-day ACH Volume vs. Fraud

Same-day ACH payments – introduced for credits in 2016 and debits last year – are gaining popularity with banks and corporations. The success prompted Nacha this week to approve new rules for these payments going into effect over the next two years.

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Credential Stuffing Attacks Cause Heartache for the Financial Sector

The financial industry has always been a target for cyberattackers. Credit card data, customer information, and the wealth of corporate data available for the taking has ensured that cybercriminals will try, again and again, to compromise companies in the sector. In August, cyberattackers made off with 13.

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Five Reasons the Payments Business Is Ripe for Big Change

The wholesale disruption of the payments industry has finally begun. Major banks, credit card companies and financial giants have long controlled payments but their dominance looks increasingly shaky. Since 2014, investors have poured 130 billion into ground breaking technologies like Blockchain and mobile payments.

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How Lehmans Collapse Started the FinTech Fire

It’s interesting that the Global Financial Crisis (GFC) sparked by Lehman Brothers collapse in September 2008 sparked the FinTech revolution, according to some. I personally think FinTech was bubbling away before the GFC but, certainly, the GFC led to massive investment focus upon changing the system (almost 100 billion since 2010).

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Regional

Africa’s Fintech Startups Are Innovating Out of Need and Global Investors Are Backing Them

It is hard to miss news of the several funding rounds recently raised by fintech startups in Africa. After pulling in almost a third of total funding raised by startups on the continent in 2017, the hot streak for African fintech businesses has continued this year.

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Japanese Bitcoin Exchange Is Robbed of $60 Million Worth of Cryptocurrency

Japanese cryptocurrency exchange Zaif has been robbed of $60 million worth of digital coins, its parent company Tech Bureau announced. Zaif was hacked on September 14th during a two-hour time frame. Three days later, it uncovered server problems and began to investigate. By September 18th, it confirmed it was hacked and notified authorities.

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Singapore’s Central Bank Calls Blockchain ‘Fundamental’ Tech to Change Financial Services

Singapore’s central bank is counting on blockchain, along with artificial intelligence, to serve as “fundamental” technologies that will help transform financial services, according to a senior official.

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Australians Increasingly Eschew Cash and Card for Mobile Payments

September 19, 2018 By: Steven Anderson Mobile payments are catching on just about everywhere, and Australia is serving as an excellent case-in-point example.

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Regulatory

Why Reg Relief Is Moving in the Right Direction

Recent steps by the Congress and the Treasury, Federal Reserve Board, Comptroller of the Currency and the Federal Deposit Insurance Corp. suggest a welcome departure from the trend of one-size-fits-all rules – and a return to principles-based regulation anchored in regulatory common sense and sound financial judgment.

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U.S. Way Behind the Curve on Open Banking

Across North America, policymakers, fintech companies, and financial services firms are finally beginning an earnest dialogue about open banking. The Senate Banking Committee recently touched on the issue at a Sept. 18 hearing – one of the first official discussions in the halls of Congress.

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Switzerland and Israel Collaborate on Cryptocurrency & Blockchain Regulation

The Swiss Minister for Finance Ueli Maurer recently visited Israel along with State Secretary for International Financial Matters Joerg Gasser, citing their goal as gaining bank access to Israeli markets to allow Swiss banks to trade there.

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Cryptocurrency ‘Wild West’ Must Come to an End, UK Lawmakers Say

U.K. lawmakers have said they want to clamp down on the Wild West cryptocurrency market and prepare Britain as a legitimate home for the trading of digital currencies.

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