Digital banking has been a big positive for the financial services industry, though it has opened companies to greater cyber...
The House Financial Service Committee (HSFC) is promoting small business investment and growth through six new bills; provisions include an expansion of venture capital fund investing, changes to the number of shares available for employees at privately-held companies and more responsive action by the Securities and Exchange Commission (SEC) in findings and recommendations by the SEC's Government-Business Forum on Small Business Capital Formation. Source
A consortium of banks that include JP Morgan Chase, Goldman Sachs, BNP Paribas, Credit Suisse and Citi trialed a distributed ledger platform that proceeded equity swaps from beginning to end; the AxCore platform by Axoni would allow for payments to process instantly and reduce potential disputes; Greg Schvey, CEO of Axoni, said in a statement reported by CoinDesk, “Equity swap data is infamously complex and difficult to manage, making it a terrific fit for distributed ledger technology.” Source.
The future of work in banking will become detached from physical facilities and become increasingly mobile enabled.
Embedded finance can help small businesses manage their money end-to-end, but not all companies are equipped to offer it properly.
A new survey by 12 Federal Reserve banks says 35 percent of small business owners who received loans from fintech...
Earned wage access can provide a solution to an underserved population in need of cash, but fee structures may need clarification.
Barclays US is trying to ensure they use AI in a efficient yet non intrusive way so their customers can get the most out of the technology; Tearsheet spoke with Mona Jantzi, managing director of strategic analytics and customer experience at Barclays US, to learn more about how the bank uses AI; topics discussed include using data to shape customer experience, going beyond product offerings, the dangers of AI use with data and more. Source.
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The deal help to increase their efforts to bring credit scoring and ID verification to emerging markets; “We’re thrilled to join forces with Lenddo and create an undisputed, global category leader in alternative data for credit decisioning,” said Jared Miller, CEO of EFL to Bankless Times; they will work with banks, telcos, retailers, microfinance institutions and insurers to help bring credit to people with little or no credit history. Source.