The Global Fintech Hubs Federation (GFHF), has been announced on August 25, 2016, on initiative of Innotribe and Innovate Finance, to foster innovation across the world’s financial services industry and help startups and institutions gain visibility into new markets. Stakeholders from more than 20 cities around the world, including London, Shanghai, Frankfurt, Istanbul and Nairobi, have already decided to join the federation, with more groups to come.
The Bank of Japan (BOJ) returns talking about the adoption of financial technology in their system in a seminar hosted at their HQ in Tokyo July 29. This comes after the central bank announcement this year in April to have established an in-house section at the BOJ in charge of fintech to explore the opportunities and to offer guidance to financial institutions seeking to step into the fintech market.
According to the World Bank’s Global Financial Inclusion Database, only 51% of the population in Latin America and the Caribbean has a bank account. This figure varies greatly between countries, with more than 80% of the adult population remaining ‘unbanked’ in Nicaragua for less than 35% in Brazil and Costa Rica.
The adoption of equity and debt crowdfunding has left most if not all policy makers and regulatory bodies challenged to find the right framework to properly regulate the array of platforms launching into the market. These platforms have given accredited and retail investors alike access to alternative investments they would not otherwise have. One area overlooked by most investors and now being addressed by regulatory bodies is investment liquidity. Venture capitalists and business angels traditionally would achieve liquidity with the acquisition of the investment. Crowdfunding differs, an IPO or acquisition isn’t out of the questions but it certainly is less likely.
The regulatory environment around P2P lending can be quite perplexing and can serve as a deterrent to many trying to enter the industry and launch a successful lending platform. Through this piece, we hope to clear some of the legal mist and provide clarity on the regulations that need to be adhered to.
Bank of Thailand (BoT) Governor Veerathai Santiprabhob at the C asean Forum's "Positioning Thailand's Fintech Ecosystem" event announced more regulation for the growing fintech sector in order to protect consumers, prevent systemic risk and help the development of the market. Following the path of Governments and regulators of the UK, France, Australia and Singapore the intention is to create a regulatory sandbox that can be used as a testing ground for fintech companies.
In the wake of the Brexit, European financial hubs are competing to attract London-based firms looking to relocate in order to ensure the stability of their operations. If the true impact of the Brexit on the Fintech sector cannot be accurately predicted at this point, actors like money-transfer and payment companies might be tempted to move from London to another European city, which could guarantee a more stable political environment.
The US House of Representatives passed a new bill on securities law, the “National Securities Exchange Regulatory Parity Act of 2016” (H.R. 5421) , on Tuesday 12th of July, just a week after successfully passing other two bills related to investing, the “Supporting America's Innovators Act” and the “Fix Crowdfunding Act”.
Since we set out to modernize financial services in 2012 as Crowd Valley Inc, and even earlier in 2008 as early entrepreneurs in what’s been now called fintech, we’ve come a long way. Not just as a company, but as a global market calling for new efficient models in finance. However, today we wanted to share a brief update on our progress and focus on Crowd Valley as a company first and foremost.
The US House of Representatives passed two bills on Tuesday 5th of July, aiming to make it easier for entrepreneurs to raise money and to improve conditions for SME and startup investing.