·
https://lendit.wistia.com/medias/zmw4ew8yhx?embedType=async&videoFoam=true&videoWidth=640 London is the undisputed heavyweight champion of fintech, but it has found itself with a PR problem: Brexit. Will...
By creating trends and building future-ready solutions, fintech companies try to satisfy global regulatory requirements and meet customer demands.
While the full English report is still in the works KPMG releases their annual Fintech 50 for China; China has become one of the most important fintech markets in the world as some of the largest companies are from the market; they are also one of the most diversified markets as they have leading companies in insurtech, payments, regtech and online lending. Source.
Cybercrime is a growing problem with ID theft hitting a record high in 2016 affecting 15.4 million people; Credit card fraud resulted in $21.84 billion in losses across the world; synthetic identities are a top risk for the banking industry and banks need next-generation KYC tools to protect themselves. Source
Miles Reidy is a partner at QED and spearheads the VC firm’s regtech initiatives; Reidy talks about his background, why regtech has its origins in the changes brought on by the financial crisis, the differences that regtech is making in financial services today and more. Source
The KPMG Pulse of Fintech Q3 report pointed to 274 deals worth over $8bn in investment; the hottest areas of investment include artificial intelligence, insurtech, regtech and blockchain; the three biggest countries come as no surprise with the US, China and the UK dominating their respective regions. Source.
The FT has seen regtech as one of the fastest growing areas of fintech with a surge of applications to their Future of Fintech awards; new regulations such as the EU’s Mifid II rules, increased compliance and KYC checks by financial institutions looking for more cost efficient ways to verify customers has helped to bring new startups into the market; fintech has moved well beyond lending and the diversification of the market continues to grow. Source.
As more banks start utilizing new technologies like artificial intelligence and blockchain current employees are beginning to worry about their future; Lyn Hall-Fore, U.S. director of BSA/AML compliance tells American Banker, “We told them, this is to make your job easier and better and give you more capacity to think, but still meet your production quotas”; finding the right balance will be a struggle as banks continue to innovate. Source
In an op-ed in City A.M. the Lord Mayor of London, William Russell, argues that the fintech revolution began in...
Cloud Lending Solutions provides digital technology platform services for origination, underwriting, servicing and collections; in their featured blog post they provide insights on the use of regtech for online lending platforms; utilizing regtech solutions can significantly help internal controls, business processes and cost structures for online lenders while also helping to improve the overall borrower experience. Sponsored Blog Post