Posts Tagged ‘banking’

2nd Fintech Banking Summit at the BMC

Following last year’s professional and media success, the Fintech Banking Summit conference will again be organized this year by Elektromédia Kft. on November 22 at the Budapest Music Center (BMC). The aim of the event is to outline the latest fintech trends and gather together key players in the industry, connecting potential clients, partners, mentors and […]

Bank of America Has the Most Blockchain Patents, But Is It Actually Going to Use Them?

Bank of America (BofA) — the second-largest bank in the US — has been leading in the informal blockchain patent race, sidestepping such players as IBM and Alibaba. However, BofA’s efforts in the blockchain domain do not necessarily mean that the company will develop actual products. Nor does it mean that the company is being bullish […]

Trendy challenger bank Monzo is Britain’s latest unicorn startup

Banking startup Monzo became the latest UK firm to reach coveted unicorn status after a secured a £85 million funding round, giving it a valuation of £1 billion (or $1.3 billion). In total, the company has raised almost £192 million from a swathe of top-tier investors, including Stripe, Accel Ventures, and General Catalyst. Monzo plans to use […]

Nine Japanese Banks to Trial Blockchain Settlement Using Fujitsu Tech

Nine Japanese banks are teaming up to trial a blockchain-based inter-bank settlement system using Fujitsu technology. The nine banks involved in the effort comprise a consortium called the Japanese Banks’ Payment Clearing Network (or Zengin — net). Fujitsu will build and provide the new trial platform using blockchain technology and will also utilize a peer-to-peer money transfer […]

Swissquote Bank Offers Clients Purchase and Custodial Services for ICO Tokens

The online bank Swissquote became the first bank worldwide to offer services related to ICO tokens. The company will be in charge of purchasing and custodial services of ICO tokens for clients. According to the official announcement, users do not necessarily need to know how blockchain and virtual currencies work to enter the market. And indeed, […]

Fintech Regulation: New Law to Impact Mobile Wallet Operators in Singapore

Singapore is about to introduce a new law to prevent shadow banking by requiring mobile wallet operators and payments startups to ring-fence deposits so they don’t function as unregulated banks. The new rules, which are likely to become legislation by the end of the year or early next year, is part of the Payment Service Bill […]

UK Banking Giant Barclays’ Cryptocurrency Project ‘Put on Ice’: Report

Major investment bank Barclays has reportedly put its cryptocurrency trading project “on ice”. Among other things, the project involved determining whether cryptocurrency would be more than just a fad, gauging client interest for crypto products, and evaluating what infrastructure the bank would need to invest in to offer related products and services. It is not clear why […]

The fintech ‘genius’ accused in $165m fraud

Shortly after the UK voted to leave the EU in 2016, WB21, which claimed to be a fintech company, announced it was upping sticks from London to Berlin. Its chief executive, Michael Gastauer, declared that the legal uncertainty of Brexit had driven his business to Germany. Last Wednesday, the US SEC unveiled a civil lawsuit […]

International webinar Fintech vs Traditional Banking

What is happening now in the payment service market? What is the situation with Fintech technologies? These and other issues will be discussed at Advapay Fintech vs Traditional Banking free webinars on October 17 and 24, 2018. Key issues: Revolution of retail banking: how EMIs are winning retail banking clients Compliance trends new AML methods in […]

Tencent-backed mobile bank N26 launches in the UK and plans US expansion by early 2019

German app-only bank N26 has launched in the U.K. and is eyeing another expansion to the U.S. in the first quarter of 2019. Although it has a banking license recognized in Europe, N26 isn’t authorized in the same way by regulators in the States. So it is partnering with an American lender — which hasn’t yet […]