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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

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

133

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

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

183

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

175

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

142

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

146

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

189

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

164

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

137

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

155

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

548

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

149

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

164

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

259

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

202

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

157

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

111

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

238

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

141

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

417

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

239

Central bank of Singapore wants to set up new framework for investment funds

By  for TechinAsia

The Monetary Authority of Singapore (MAS) continues to make it easier for investors to set up new funds and operate in the city-state. Today it announced it has opened a public consultation on a new corporate structure for investment funds. People can submit their comments on a number of questions posed in the consultation paper. (more…)

Global trends, Government activities, Hotnews, Payment processors/providers/gateways, Singapore

March 23, 2017

331

MAS Conclusion about Distributed Ledger Technology in Securities Settlement and Cross Border Payments

By FintechNews.Sg

The Monetary Authority of Singapore (MAS) today announced the successful conclusion of the proof-of-concept project to conduct domestic inter-bank payments using distributed ledger technology (DLT). The project, in partnership with R3 and a consortium of financial institutions, was first announced on 16 November 2016 by MAS. (more…)

Blockchain, Cryptocurrencies, Government activities, InspirAsia

March 22, 2017

388

State Bank of Vietnam establishes fintech steering committee

Governor of the State Bank of Vietnam (SBV) signed Decision No.328/QĐ-NHNN to establish SBV Steering Committee on Financial Technology (Steering Committee on Fintech). (more…)

Banks, Government activities

March 21, 2017

418

How PSD2 Will Change Europe’s Banks For The Better

By Artem Tymoshenko for LTP

Banking has always been a very conservative industry. If liquidity drops too low, entire markets can grind to a halt. Open yourself up too much and you become susceptible to fraud and theft. Striking the perfect balance is difficult. In every economy, one of the government’s primary concerns is securing a steady flow of money in the door, while trying to ensure that it doesn’t fly out the window. (more…)

Government activities

March 21, 2017

244

Tandem rocked by £29 million funding halt

Digital challenger bank Tandem has been rocked by news that Sanpower, the Chinese conglomerate which owns House of Fraser, has been forced to cancel a £29 million cash injection intended to help the startup meet regulatory capital requirements. (more…)

Banks, Government activities, Mobile-first banks

March 21, 2017

843

Govt-Backed ‘Crypto Valley Association’ Launches in Switzerland

By CryptoCoins News

Fintech-friendly Switzerland sees the launch of a new non-profit blockchain advocacy and development group with the launch of the Crypto Valley Association, backed by the government. (more…)

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

March 3, 2017

351

UK & US Fintech Working Group to explore regtech

By Finextra

Innovate Finance, the independent membership association that represents the UK’s global FinTech community, together with its strategic partner Hogan Lovells, is looking at the potentially transformative role that regulatory technology (RegTech) might play in tackling the fragmented US financial environment.  (more…)

Fintech news, Government activities

February 28, 2017

285

Payments transformation: How banks can innovate to stay relevant – A Banking Byte event

By Finextra

The payments landscape is changing profoundly and all banks recognise that their payments strategies and technology stacks need to change in response. The drivers for transformation are clear: regulation, notably the revised Payment Services Directive (PSD2), changing customer behaviour, and rapidly evolving technology.  (more…)

Fintech news, Government activities, Open Source/ API, Payment processors/providers/gateways

February 28, 2017