MENU

Government activities
Category

104

Cambodia, Soramitsu Planning Distributed Ledger System

Soramitsu Co., the Japanese Blockchain identity company, has indicated that they are partnering with the National Bank of Cambodia to test distributed ledger technology in creating new and innovative payment methodologies. (more…)

Fintech news, Government activities, Hotnews

June 26, 2017

174

PSD2 and Instant Payments to drive a 37% decline in online card volumes

A new study from Ovum, has attempted for the first time to quantify the detrimental effect Instant Payments and PSD2 will have on traditional credit and debit card payments. Instant Payments, PSD2, frictionless payment,e-commerce, (more…)

Government activities, Hotnews

June 26, 2017

142

China’s cloud industry moving to new era with emergence of unicorns

By Anna Lee for Technode

Just a few years ago, billion-level funding would be beyond the imagination of Chinese cloud computing companies. But now it is becoming more and more tangible as the market matures. (more…)

Government activities

June 12, 2017

252

Asian Banks Outline Blockchain Use Cases

By LTP

Financial institutions are eager to identify the commercial opportunity that blockchain technology can offer their business and ways it can help reduce costs, improve reporting, reduce fraud and enhance security and visibility. (more…)

Banks, Blockchain, Global trends, Government activities

June 8, 2017

172

Monetary Authority of Singapore Posts Consultation on Robo-Advisors

The Monetary Authority of Singapore (MAS) has published a consultation on the regulation of Robo-Advisors or “Digital Advisory Services.” The consultation will close on July 7, 2017. (more…)

Global trends, Government activities, Hotnews

June 8, 2017

368

Singapore Tokenizes Their Currency Through Ethereum’s Blockchain

According to a recent article on Trustnodes, the Monetary Authority of Singapore, Singapore’s central bank, has successfully digitized their national currency by a creating a token out of the Singapore dollar on Ethereum’s blockchain technology. (more…)

Blockchain, Cryptocurrencies, Government activities, Hotnews

June 8, 2017

123

Countdown to PSD2: Finextra surveys financial institutions on readiness and strategies

By Finextra

A new Finextra paper to be released at EBAday 2017 will gauge banks’ progress with PSD2 compliance and their thinking about the opportunities – and challenges – of the imminent regulatory change.

The PSD2 implementation deadline is fast approaching. The next months will be critical for financial institutions in impacted markets as they complete the technological and strategic work required to both achieve compliance with the regulation and to take advantage of the opportunities it creates.

A number of first movers are already putting into action their strategies for a PSD2 world. But is it obvious for the majority of financial institutions how they should respond? Is it clear where the real opportunities of PSD2 lie for banks, and are the technology decisions they need to make – to either achieve PSD2 compliance, or go beyond it to leverage the regulation for business growth -straightforward to negotiate?

Finextra’s latest online survey is designed to generate answers to these questions among others, and you are invited to participate to get priority access to the results.

The survey covers a range of important topics, including:
– Do the majority of banks agree they should do more than simply comply with PSD2?
– How are banks working with their service providers to deliver their PSD2 change programmes?
– Which teams within banks are leading and driving PSD2 projects?
– How far have banks progressed and will they be compliant on time?
– How many financial institutions already have new services in place designed to leverage the potential of PSD2?
– What are the new business models banks are exploring in light of the implementation of PSD2?
– Is PSD2 helping financial institutions to accelerate their digital transformation programmes?

The anonymised and aggregated survey results will feed into a report that drills down into the topic of PSD2 readiness and banks’ strategic responses to the new regulation. The report will be launched at the forthcoming EBAday 2017 in Dublin.

Have your say and contribute to this assessment of where financial institutions are on their PSD2 journeys by completing the survey today.

(more…)

Government activities, Hotnews

June 5, 2017

157

Poland Aspires to Become a Fintech Leader in Europe

Coming off a two-day event in Warsaw, FutureTech Congress organizers are reporting that Poland aspires to become a Fintech hub in Europe. (more…)

Banks, Government activities

May 29, 2017

173

Indian Bank Kotak Mahindra Implements Blockchain in Trade Finance

By CCN,

Kotak Mahindra Bank, one of India’s largest private banks, has successfully completed an end-to-end trade finance transaction with a client over a blockchain. (more…)

Banks, Blockchain, Government activities, Hotnews

May 18, 2017

173

This Startup Wants to Modernize Public Finance

By Fortune

When the city of Lawrence, Kan. wanted to borrow $650,000 to pay for a new fire truck for its local fire department, it didn’t use traditional banks and bonds to borrow money. Instead it turned to Silicon Valley upstart Neighborly, a two-year old marketplace that connects cities with investors to fund civic projects like schools, parks, and bridges. (more…)

Government activities, Payment processors/providers/gateways

May 16, 2017

226

Malaysian securities regulator introduces robo-advisor framework

By Securities Commission Malaysia (SC)

The Securities Commission Malaysia (SC) today introduced the Digital Investment Management framework, setting out licensing and conduct requirements for the offering of automated discretionary portfolio management services to investors. (more…)

Government activities, InspirAsia

May 9, 2017

147

Innovate Finance publishes sandbox consultation report

By Innovate FInance

Findings of the Industry Sandbox Consultation have been published today. (more…)

Government activities, Influences FinTech, InspirAsia, RegTech

May 9, 2017

261

Fintech, e-commerce, Smart Cities take centerstage in US-Singapore bilateral trade meeting

By Kevin McSpadden for e27

High-level US-Singapore policymakers discussed how to use a 2016 Memorandum of Understanding to help facilitate bilateral trade (more…)

Global trends, Government activities, RegTech

May 3, 2017

244

Mizuho to go live with DLT-based trade finance application

Mizuho Bank is preparing to conduct its first live trade financing transactions over a distributed ledger developed in association with IBM. (more…)

Banks, Blockchain, Global trends, Government activities

April 26, 2017

208

Singapore is creating a US$718M innovation fund; will invest up to US$107M in each startup

It is called The Makara Innovation Fund, a joint venture between the Intellectual Property Office of Singapore and local private equity firm Makara Capital Partners (more…)

Government activities

April 26, 2017

206

UBS rolls out Twint mobile payments app

UBS Twint is now available in the Apple App Store and Google Play Store. The free app is ideal for everybody with a UBS account or a Swiss credit card of any kind: Twint payments are debited directly to your bank account or credit card. (more…)

Banks, Global trends, Government activities

April 24, 2017

268

Malaysian government-backed MDEC launches digital hub and entrepreneur initiatives; aims to help startups scale globally

By Yon Heong Tung for e27

Government-backed innovation agency Malaysia Digital Economy Corporation (MDEC) has announced two new initiatives that will bolster the country’s digitalisation efforts. (more…)

Government activities, Hotnews

April 20, 2017

234

Steve Ballmer Spends Millions To Redesign Government Information

By Mark Wilson for Co.Design

The former Microsoft CEO and current Clippers owner wants to give back through a powerful data visualization tool.

(more…)

Government activities, Hotnews

April 20, 2017

210

Nomura sets up Indian fintech programme; creates $92 million startup investment fund

Japanese investment bank Nomura has set up a fintech programme in India, inviting entrepreneurs to join it at a Mumbai base to build new tools for capital markets. (more…)

Fintech news, Government activities, Hotnews, InspirAsia

April 20, 2017

230

Japanese Government Unveils Evaluation Process for Blockchain Platforms

By Samburaj Das for CCN.la
In a month where bitcoin gains prominence in Japan’s mainstream after the cryptocurrency saw recognition as a legal method of payment, the Japanese government has revealed a method to evaluate blockchain platforms that are widely expected to transform a number of industries. (more…)

Government activities, InspirAsia, Marketing Report, Payment processors/providers/gateways

April 19, 2017

763

CHINA: THE WORLD’S NEW FINTECH LEADER

By Alexander Jones, International Banker

The centre of financial technology (or fintech) is migrating eastwards. (more…)

Fintech news, Government activities, InspirAsia

April 16, 2017

200

Zenefits fined $1.2 million by NY regulator for unlicensed insurance sales

By Reuters

Health benefits broker Zenefits was fined $1.2 million with New York’s financial services regulator on Tuesday for letting unlicensed employees solicit, negotiate and sell insurance policies, the latest regulatory blow for the software startup. (more…)

Government activities, Hotnews

April 12, 2017

232

Digital hubs take center stage as the Malaysian startup ecosystem leans into developing the digital economy

By Lyra Reyes for e27.com

Situated at the heart of SEA, Malaysia’s strategic location affords it the capability of easily connecting to a regional market of over 625 million people as it shares land and maritime borders with 6 countries. (more…)

Fintech news, Global trends, Government activities, InspirAsia, Payment processors/providers/gateways

April 10, 2017

331

WhatsApp makes P2P payments play in India

Facebook-owned messaging service WhatsApp is advertising for a digital transaction lead with experience of UPI, Aadhaar and BHIM, in a move which is seen as the precursor to the launch of a peer-to-peer payments service in India. (more…)

Fintech news, Global trends, Government activities, Hotnews, InspirAsia, p2p-payments

April 5, 2017

275

Ma’s MoneyGram deal threatened as lawmakers cite China risks

Chinese billionaire Jack Ma’s latest U.S. expansion plan is facing rising political obstacles. (more…)

Deals, Fintech news, Global trends, Government activities, Hotnews

April 1, 2017

229

Singapore Exchange said to mull tie-ups as deals grow harder

By Bloomberg

Even as regulators crack down on yet another round of consolidation among exchange operators – at least one major bourse is still keen to pursue deals. (more…)

Global trends, Government activities, InspirAsia

March 30, 2017

186

UK financial fraud data for 2016 published

By Financial Fraud Action

Financial fraud losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, an increase of 2 per cent on the previous year, figures from Financial Fraud Action UK show. (more…)

Government activities, Security

March 30, 2017

315

How banks use investment funds to spread CRA risk

By Allison Prang for American Banker,

Banks of all sizes — from Bank of America to the $1 billion-asset Howard Bank near Baltimore — are investing in small-business loan funds to promote economic development while sharing risk. (more…)

Banks, Deals, Government activities, Hotnews

March 28, 2017

205

Singapore Exchange boosts tech sector, investor interest and support driving the next wave in technology disruption

Tech stocks listed in Singapore outperformed the benchmark in average return and valuations over the past five years, reflecting investor interest against the backdrop of a new wave in technology disruption. (more…)

Government activities

March 27, 2017

516

MAS to roll out national KYC utility for Singapore

By Finextra

The Monetary Authority of Singapore (MAS) is piloting a national know-your-customer (KYC) utility for financial services, based on the MyInfo digital identity service, jointly developed by the Ministry of Finance and GovTech, the lead agency for digital and data strategy in Singapore. (more…)

Government activities, Hotnews, Singapore

March 24, 2017