Distributed Ledger Technologies (or Blockchains) have gained a tremendous amount of traction over the last couple of years or so, and they are due to serve a far larger purpose than anyone could have imagined in the early Bitcoin days. This article aims to explain how distributed ledgers are changing the modern internet as we know it, on a very fundamental level.
Compliance is a necessary staple for any successful business venture. Critical to the success of any type of digital finance platform is a comprehensive identity verification process which usually require to meet both domestic regulatory requirements and sustainable business objectives.
Financial inclusion is an often encountered term in financial services. In fact it may be the most referenced societal benefit that finance firms aspire to better, to the point the term itself may have experienced inflation. Yet financial inclusion has historically had a narrow view of financial inclusion on solely the underserved, today with increasing data it’s much broader, including also the misunderstood.
Having discussed the very best Fintech events and conferences for this year, and our suggestions on the 5 best newsletters for Fintech innovators, we thought it would be beneficial by presenting the 20 best Fintech blogs and publications that you may like to follow to keep up with the latest news and developments in the fast changing financial services space.
The sharing economy is defined as “the peer to peer based activity of obtaining, giving, or sharing access to good and services”. Alternative names for this phenomenon include gig economy, platform economy, access economy, and collaborative consumption.
'As Fintech continues its progress around the world, new platforms emerge on a daily basis. Crowdfunding for Real Estate, peer to peer with asset backed loans, sponsor led syndicates. You’ve seen the statistic, there’s hundreds or thousands in different verticals and segments. Some represent novel new upstarts with their new niche or focus and some represent incumbents digitalizing their value chains using online tools. It's easy to think, that there are too many platforms.
The European Union (EU) Executive's Vice President Valdis Dombrovskis said on Thursday, 23rd March 2017, that the Commission is considering how to regulate the expanding sector to encourage its development in Europe, while protecting consumers from risks that may emerge.
Managing regulations and compliance is becoming increasingly difficult for banks because it is time consuming and expensive, experts claim. For example, when asked by a journalist about the difficulties for top banks in managing compliance costs, a top investor commented: “(…) that is a massive challenge for these banks.”
With its high GDP, 2nd highest e-commerce volume in Asia and high rate of technological adoption, Japan presents a high potential for Fintech investment and adoption. However, the uptake has been lukewarm so far, owing to significant cultural and regulatory obstacles with Japanese investments accounted for only 0.40 percent of the roughly US$12 billion invested into Fintech globally in 2014, according to a report by Accenture.
According to Investopedia, “Fintech is a portmanteau of financial technology that describes an emerging financial services sector in the 21st century”. Originally, the term described technology applied to the back-end of established consumer and trade financial institutions. Since then that definition has expanded significantly to include any technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment and even crypto-currencies like bitcoin.