fintech

benchmark reform, fintech, FSB, regtech, stablecoins, suptech

The Financial Stability Board (FSB) published its work programme for 2020. The FSB’s work priorities for 2020 reflect the evolving nature of the global financial system and associated risks to…

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…

Treasurers with machines: automated hedging in the FX market

November 28, 2019

Automation

BNP Paribas, Citi, fintech, FX, Kantox, SVB, topstory

UK-based FX technology firm Kantox is partnering with Citi’s Commercial Bank, BNP Paribas and Silicon Valley Bank to offer its FX automation technology to banks’ clients. We talk to Kantox…

SIFMA capital markets conference notes: regulations, technology, end of LIBOR

November 26, 2019

alternatives to LIBOR, cybersecurity, fintech, Regulations, SIFMA, technology

Recently, SIFMA (Securities Industry and Financial Markets Association) hosted its annual capital markets conference. Analysts recap some of what was seen and heard, as well as key themes heard throughout…

Broadridge acquires portfolio management fintech ClearStructure

November 20, 2019

acquisitions, Broadridge, fintech, portfolio management

Broadridge Financial Solutions has acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets. Financial details were not disclosed. Today, Broadridge’s SaaS technology powers…

FT: Fidelity’s search for tomorrow’s tech amid fee compression

October 21, 2019

fidelity, Fidelity Digital Assets, fintech

The investment industry has come under intense pressure in recent years, buffeted by falling fees and rising costs. Abigail Johnson — the founder’s granddaughter who picked up the reins five years ago…

RMA creates fintech committee led by State Street and BNY Mellon

October 6, 2019

Josh Galper

News and Notes

collateral management, fintech, RMA, securities finance

RMA FINANCIAL TECHNOLOGY AND AUTOMATION COMMITTEE Mission Guide the financial service industry’s engagement with and adoption of new technologies while acting as an advocate for best practices. The Committee will…

BNP Paribas partners with FX fintech for automated hedging to corporates

September 10, 2019

BNP Paribas, fintech, FX, Kantox, treasurers

BNP Paribas announced a strategic partnership with London-headquartered Kantox, a fintech specializing in FX risk management solutions. The agreement enables BNP Paribas and Kantox to jointly offer Kantox’s Dynamic Hedging…

Enterprise financial software leads as fintech M&A breaks records

August 22, 2019

News and Notes – Fintech, Uncategorized

acquisitions, fintech, fundraising, Hampleton Partners

Fintech M&A deal volume reaches three-year high with 198 deals in H1 2019, up from 164 in H2 2018 Global venture capital investment in fintech achieves record-level in Q2 2019…

Capital markets blockchain weekly roundup

August 15, 2019

Barclays, blockchain, CBDC, Coinbase, digitization, exchanges, fintech, PBOC

Our weekly list of announcements about how capital markets and regulators are engaging with digital assets. CoinDesk: Barclays ends banking relationship with crypto exchange Coinbase Barclays is no longer working…

NY financial authority creates research and innovation division

July 23, 2019

cryptocurrencies, fintech, NYDFS

New York State Department of Financial Services superintendent Linda Lacewell announced the establishment of a Research and Innovation Division that will support internal transformation and market innovation and house the…

Manatt: US task force considers fintech regulation

July 19, 2019

FCA, fintech, fintech regulation, OCC, Securities and Exchange Commission, US House

The newly formed US House Financial Services Committee’s Task Force on Financial Technology (Committee) recently held its first hearing, and it included some interesting perspectives from both US and UK…

BoE mulls fintech access to its balance sheet, Carney cites cryptocurrency Libra

June 21, 2019

BoE, fintech, Libra, Mark Carney

Excerpts from speech by Mark Carney, governor of the Bank of England, Mansion House speech, London 20 June 2019 The Bank of England is announcing plans to consult on opening…

SIFMA: DTCC’s adoption of fintech

June 12, 2019

DTCC, fintech, SIFMA

DTCC is working on several initiatives to assess and use fintech capabilities, including: Today: Robotic Process Automation (RPA) Billing – DTCC’s Finance Revenue Cycle team used to use two different…

FSB report considers implications of decentralized financial technologies

June 6, 2019

blockchain, decentralized, DLT, fintech, FSB, G20

The Financial Stability Board (FSB) published a report on decentralised financial technologies. This report considers the financial stability, regulatory and governance implications of the use of decentralized financial technologies such…

CFTC’s Giancarlo takes stock of blockchain and “exponential” tech

June 5, 2019

blockchain, CFTC, crypto regulation, cryptocurrencies, DLT, fintech, Giancarlo

Excerpts from remarks of CFTC chair Christopher Giancarlo at Commissione Nazionale per le Societa e la Borsa (CONSOB), Rome, Italy, June 3, 2019, “The New Futurism: 21st Century Financial Markets,…

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…

What was said about advanced tech at SIFMA’s ops conference

May 31, 2019

artificial intelligence, cloud, cybersecurity, Data, FINRA, fintech, RPA, SIFMA

Recently, SIFMA hosted its 46th annual Operations Conference & Exhibition over several days of presentations and events and nearly 1,000 attendees. Inside a note, SIFMA recapped some of the highlights,…

MAS’ Menon details use cases of advanced tech and ASEAN network developments

May 15, 2019

APIs, ASEAN, AXA, BBVA, Blackrock, BNP Paribas, fintech, J.P. Morgan, machine learning, MAS, Mitsubishi UFJ, OCBC, Ping An, Quantum Computing, Singapore, Societe Generale

Excerpts from speech by Ravi Menon, managing director of the Monetary Authority of Singapore, at the Bank of France Lecture, Paris, 14 May 2019. Banks are using technology to resolve…

AI and fintech fragmentation on FSB European group’s agenda

May 9, 2019

artificial intelligence, Europe, fintech, FSB, G20

At a recent meeting in Bucharest, the Financial Stability Board (FSB) Regional Consultative Group (RCG) considered implications of the growing use of artificial intelligence, machine learning and big data for…

Nigeria central bank to use collateral management regime for fintech regulation

April 30, 2019

Central Banks, collateral management, fintech, fintech regulation, Nigeria

In order to encourage innovation in the payment system, the Central Bank of Nigeria (CBN) is putting in place a collateral management regime (CMR) to regulate the activities of fintech…

FT: J.P. Morgan opens IIN blockchain platform to payments and fintechs

April 22, 2019

blockchain, fintech, Interbank Information Network, J.P. Morgan, settlement

J.P. Morgan is to widen the use of the industry’s leading blockchain technology to help smooth the banking industry’s payment system while also inviting fintechs to experiment on how to…

Canadian and UK regulators to cooperate on fintech sandbox

April 22, 2019

CSA, FCA, fintech

The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Québec and Saskatchewan (participating jurisdictions) today announced a co-operation agreement with the UK’s Financial Conduct Authority (FCA).…

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…

India central bank updates on fintech adoption, plans regulatory sandbox

March 25, 2019

Central Banks, fintech, India, regtech, suptech

Excerpts from speech by Reserve Bank of India governor Shaktikanta Das at FinTech Conclave 2019, organized by think tank NITI Aayog, New Delhi, 25 March 2019 The Reserve Bank of…

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…

ESMA updates for fin-, reg- and suptech on trends, risks and vulnerabilites

March 7, 2019

ESMA, fintech, Market Risk, regtech, suptech, systemic risk

Fintech continues to drive innovation in financial services, with potentially far-reaching consequences for both end-users and service providers, said ESMA in a recent report. Crypto Assets (CAs) and Initial Coin…

Bank of Spain governor: EU’s banking union comes before regulating tech

February 22, 2019

Central Banks, fintech, Regulations, Spain

Comments from speech by Pablo Hernandez de Cos, governor of Spain’s central bank. To successfully address the transformation imposed by the new competitive environment resulting from technological changes will probably…

Quartz: Indian fintech hits rough patch on KYC regulations

February 22, 2019

fintech, India, Regulations

Fintech firms in India have been reeling under the supreme court’s directive in September 2018 that struck down the use of the biometric-based Aadhaar database. With mandatory KYC requirements, fintech firms are…

FSB identifies fintech, crypto assets, cyber resilience in 2019 priorities

February 12, 2019

crypto assets, cybersecurity, fintech, FSB

The Financial Stability Board’s work priorities are designed to promote global financial stability. Vigilant monitoring to identify, assess and address new and emerging risks to financial stability lies at the…

ESMA to review fintech regulations and scrutinize crypto assets in 2019

February 7, 2019

crypto assets, ESMA, fintech, ICOs, regtech, suptech

In its annual work program, the European Securities and Market Authority said it would analyze the regimes of national competent authorities of fintech firms across the EU to identify potential…

Japan’s MUFG establishes $185bn VC fund targeting fintech

January 15, 2019

fintech, fundraising, MUFG, MUIP, Venture capital

MUFG announced today the establishment of MUFG Innovation Partners (MUIP) that will manage corporate venture capital funds of MUFG to accelerate open innovation and strengthening partnerships with fintech startups. While the…

Roll Call: US fintech sector hurt by government shutdown

January 11, 2019

blockchain, fintech, ICOs, robo-advisers, US regulators

The US government shutdown is starting to create serious problems for financial technology firms — slowing dealmaking, impairing supervision and casting a pall over the presumed pre-eminence of the US…

DTCC survey shows cyber and fintech risk among top concerns

December 13, 2018

cybersecurity, DTCC, fintech, risk management

Cyber risk remained the number one threat to the financial industry, with more than a third of respondents (37%) citing it as the most significant risk and 69% ranking it…

How much influence do fintechs have in the future direction of finance? (Premium)

December 11, 2018

Big Data, Technology

banks, fintech, Fintech Mundi, Gershon, UBS

How the fundamental functions of finance work are changing and fintech is not just a driver of that change, but also the future of solutions, said Nobel Laureate and co-originator…

Biggest threat to banks is big tech, not fintech

December 11, 2018

banks, Big Tech, data collection, fintech, PSD2

How will banks be impacted by big tech entering the financial services industry? Can regulation promote a level playing field? These are some of the questions raised at the Big…

Report: comparing 26 fintech hubs in emerging markets

November 16, 2018

Ernst & Young, fintech, Regulatory

A fintech ecosystem comprises tech-savvy start-ups and scaleups, regulators, governments, traditional institutions, investors, and talent institutions. Regulators are tasked with the challenge of evolving with the industry. They need to…

AI is essential to fintech existence and use – report

November 8, 2018

artificial intelligence, China, fintech, South Korea

Diplomatic Courier released a special report, published in collaboration with The Future Society, detailing proceedings from the inaugural US-China AI Tech Summit in Silicon Valley earlier this year. Fintech has…

HKEX releases report on fintech capital market applications and “consistent” regulation

October 23, 2018

artificial intelligence, Big Data, fintech, HKEX, regtech

In the new era of fintech, stock exchanges around the globe are actively exploring ways to perform system upgrades and service enhancements. However, most of the existing fintech applications are…

ESMA’s approach to fintech, “wait and see” on DLT and crypto assets

October 12, 2018

crypto assets, DLT, ESMA, fintech

Excerpts from speech by Patrick Armstrong, senior risk analysis officer, Innovation and Products Team, Financial Technology: ESMA’s Approach at Luxembourg Fintech Conference, 10 October 2018 The issue of fintech and the regulatory response…

ICMA releases Q4 2018 report with comprehensive fintech review

October 11, 2018

fintech, ICMA

ICMA’s (International Capital Market Association) Q4 2018 report begins and ends with a focus on the impact of fintech on capital markets and the association’s extensive work in the area.…

Asia’s “patchwork” data privacy regs threaten fintech development

October 11, 2018

ASIFMA, data regulation, fintech

The Asia Securities Industry and Financial Markets Association (ASIFMA) released a white paper, Implications of data privacy regulations for financial technology in Asia. Fintech innovations such as distributed ledger technology, artificial…

US and Australian regulators to cooperate in fintech information sharing

October 4, 2018

ASIC, CFTC, fintech

The US Commodity Futures Trading Commission (CFTC) and the Australian Securities and Investments Commission (ASIC) signed an arrangement to cooperate and support innovation through each other’s fintech initiatives: CFTC’s LabCFTC and ASIC’s Innovation…

Fintech disruption of US community banks slow to arrive, hard to imagine, says survey

October 4, 2018

Federal Reserve, fintech, retail

News and Notes, News and Notes – Fintech

Within community banking, there are divergent views expressed by bankers on opportunities created by fintech: while the majority of surveyed bankers viewed emerging technologies as important, a significant minority also…

SocGen CIB launches fintech incubator for global markets

October 4, 2018

Josh Galper

fintech, Societe Generale

With this launch, Societe Generale Corporate & Investment Banking (SG CIB) adopts a pioneering approach in incubation for start-ups specialising in market activities, while strengthening its support to the Fintech…

Retail banks pressured by fintech and bigtech amid customer dissatisfaction

September 26, 2018

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

In addition to traditional challenges, retail banks globally are now facing high-impact new forms of competition: the open banking ecosystem, emerging technologies, and soaring customer expectations. This is according to…

Fintech credit growth challenges practitioners and policymakers

September 25, 2018

Bank for International Settlements, Credit Markets, fintech