bigtech

Technology

artificial intelligence, bigtech, FCA, fintech, QuantLR, Quantum Computing, regtech, topstory

Regulators are considering a more prescriptive approach to tech supervision in ways that might surprise. We attended a series of conferences that highlighted how trends are shaping out even as…

ESMA reports continued high risks as financial markets remain highly volatile

February 19, 2020

News and Notes

bigtech, credit risk, ESMA, liquidity risk, Market Risk

The European Securities and Markets Authority (ESMA) published 2020’s first Trends, Risks and Vulnerabilities (TRV) report. The EU regulator identified continued high risks and a weaker economic outlook as markets…

Banks seek fintech advantages amid evolving competitive landscape (Premium)

February 19, 2020

Technology

bigtech, Citi, fintech, Fintech Week, Google, topstory

Finadium has been following the ways in which incumbent banks are managing competitive pressures from bigtech firms, with fintech collaboration generally considered an important strategy. We attended a recent conference…

EU expert group makes 30 recommendations to ramp up fintech

December 13, 2019

artificial intelligence, bigtech, blockchain, cryptoassets, DLT, European Commission, fintech, regtech, suptech

Established by the European Commission, an Expert Group (EG) released a report on its mandated review of the application and suitability of the European legal and regulatory framework to fintech…

FSB reports on risk of bigtech and cloud vendors

December 8, 2019

bigtech, cloud technology, FSB

The Financial Stability Board (FSB) published two reports that consider the financial stability implications from an increasing offering of financial services by bigtech firms, and the adoption of cloud computing…

MLex: tech giants’ cloud services for banks under FSB scrutiny says Fed governor

October 2, 2019

bigtech, cloud, Federal Reserve, FSB, Lael Brainard, systemic risk

Cloud services provided to banks by technology giants such as Amazon and Microsoft are being scrutinized by the international Financial Stability Board, US Federal Reserve governor Lael Brainard said. Basel-based…

Reuters: US proposes bigtech ban for financial services, digital currencies

July 15, 2019

bigtech, crypto regulation

A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial…

BIS discusses competitive advantages between bigtech and large banks, and regulatory options

June 24, 2019

Bank for International Settlements, bigtech

Financial services both benefit from and fuel the DNA feedback loop. Offering financial services can complement and reinforce big techs’ commercial activities. The typical example is payment services, which facilitate…

G20 talks digital tax, AI ethics and bigtech systemic risk

June 10, 2019

AI ethics, bigtech, digital tax, G20, IMF

The Finance Ministers of the world’s 20 leading economies came together before the annual G20 summit. For the first time, the G20 countries agreed on principles for dealing with artificial…

Deutsche Bank asks: why can’t Europe create a post-trade Amazon?

June 10, 2019

Big Data, Technology

Amazon, bigtech, CSDs, Custodians, Deutsche Bank, Europe, T2S

In a recent report about the future of post-trade in a T2S era, Deutsche Bank’s Global Transaction Banking division strikes a note we hear more and more often these days…

SCMP: Ping An plans to be advanced tech provider for Hong Kong banks

June 5, 2019

artificial intelligence, bigtech, blockchain, China, Hong Kong, NLP, Ping An

Ping An OneConnect, a virtual bank licence holder and the fintech arm of Ping An Insurance, is developing a range of technology that can help manage fraud and loan default…

Cyber, AI, ESG, fintech among top 10 fears for risk managers

June 3, 2019

Artificial Intelligence, Technology

artificial intelligence, bigtech, cyber resilience, cyber risk, cybersecurity, ESG, fintech, machine learning, Nedbank, risk management, RiskMinds, Standard Chartered

An article published by RiskMinds outlined the top 10 fears in risk management, and the list reveals many familiar trends that Fintech Capital Markets is seeing as well. Continue reading

Bundesbank: “Innovation needs to be a package deal”

June 1, 2019

bigtech, Bundesbank, digitization, fintech

Excerpts from speech by Prof Joachim Wuermeling, member of the Executive Board of the Deutsche Bundesbank, at the Banking and Corporate Evening (Banken- und Unternehmensabend), München, 23 May 2019. Digitalization…

China tech giant units get license from Hong Kong central bank

May 11, 2019

Alibaba, bigtech, China, HKMA, Ping An, Tencent

The Hong Kong Monetary Authority (HKMA) announced it’s granted banking licenses to entities associated with China’s tech giants Alibaba, Tencent as well as insurer Ping An. This gives those entities…

BIS research: bigtech and the changing structure of financial intermediation

April 8, 2019

News and Notes, News and Notes – Fintech

Bank for International Settlements, bigtech, credit, data analysis, fintech, machine learning, Mercado Libre

In a BIS working paper, researchers from the Financial Stability Board, Bank for International Settlements, Graduate Institute (Geneva) and Argentina’s bigtech firm Mercado Libre consider the drivers and implications of…

FSB chair Quarles on bigtech and fintech supervisory challenges

March 29, 2019

bigtech, fintech, fintech regulation, FSB, Quarles

Excerpts from speech by Randal Quarles, vice chair for Supervision, Board of Governors of the Federal Reserve System, and chair Financial Stability Board, at Joint Conference of the European Central…

How custodians are evolving client-facing tech: Citi (Premium)

March 21, 2019

Big Data, Custodians, Technology

Big Data, bigtech, Citi, fintech, topstory

As part of a series on how custodians are evolving client-facing technology, we spoke with major players about the way in-house development and innovation are being incorporated to better provide…

UK digital competition review calls for new watchdog with enforcement power

March 13, 2019

bigtech, competition, fountech.ai, UK

The UK’s Digital Competition Expert Panel was established in September 2018. The panel was asked to consider the potential opportunities and challenges the emerging digital economy may pose for competition…

US senator Warren wants to break up bigtech

March 11, 2019

bigtech, Elizabeth Warren, US Senate

The rise of Facebook, Google, and Amazon to become the most valuable and well-known companies in the world, while inspiring, is also a story that highlights why the government must…

UK parliamentary committee wants digital authority for bigtech oversight

March 9, 2019

bigtech, Regulations, UK parliament committee

The House of Lords Communications Committee called for a new, overarching regulatory framework so that the services in the digital world are held accountable to an enforceable set of shared…

Regulators fire warning shot at bigtech, fintech out of crosshairs for now

February 18, 2019

Artificial Intelligence, Technology

bigtech, cloud technology, FSB

A recent Financial Stability Board report highlighted the challenges to the financial markets of new market actors we often refer to as bigtech, defined by the global financial watchdog as…

UK announces Autumn budget with a bigtech tax

October 30, 2018

bigtech, UK Autumn budget

The UK finance minister (Chancellor of the Exchequer) Philip Hammond presented the Autumn budget to Parliament on Monday 29 October 2018. Industry commentary relevant to fintech included giveaways for the…

Deep learning in finance is changing geography and systemic risk (Premium)

October 3, 2018

Artificial Intelligence, Technology

artificial intelligence, bigtech, California, Canada, China, London, New York, Stanford University

As the latest rounds get fought between New York and London for the coveted prize of world’s top financial center, some questions are being raised whether new technologies are changing…

WSJ: Facebook wants banks to hand over customers’ financial details

September 29, 2018

Amazon, bigtech, data management, Facebook, Google

Facebook has asked large US banks to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services…

Retail banks pressured by fintech and bigtech amid customer dissatisfaction

September 26, 2018

bank competition, bigtech, Capgemini, Efma, fintech, retail