The European Parliament has posted regulations pertaining to tokenization and digital securities leveraging blockchain or distributed ledger technology.The...
Citigroup added 5,500 technology workers and increased its tech spend 10% to about $10 billion in 2021. The $2.9 trillion bank reported $3.3 billion in net income for the fourth quarter of 2021, down from $4.3 billion in Q4 2020. Tech and communications spending reached $2.1 billion in Q4, a 3% year-over-year increase and 4%...
Industry awaits FCA’s follow-up consultation later this year.
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Traditional stock trading firms are beginning to feel the pressure from fintech startups who offer in many cases free trading...
The UK government now has three schemes including the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan...
Amazon has published a case study on the digital bank Monzo; Monzo leveraged AWS to build their bank which now...
The UK Treasury has announced it will allow crowd bonds in innovative finance individual savings accounts (IFISAs); crowd bond investors will invest in bonds of companies through crowdfunded platforms with their investments held in a tax sheltered account facilitated by the crowdfunding platform; the expansion of crowd bonds in IFISAs makes the crowdfunded investments more attractive because of the tax shelter, also providing greater benefits for an investment that's not secured by the government's FSCS protection. Source
Fidor Bank saw in 2016 that incumbent banks were beginning to buy up and partner with fintechs because they needed to stay competitive; other digital banks do not share this view as Starling Bank issued a report back in September saying that collaboration with main street type banks will help to erode what fintechs are attempting to disrupt; 2017 looks to be a pivotal year for partnerships as big banks, regional banks and community banks are all moving in the direction of utilizing different aspects of new innovation. Source
Here are the most read news stories from our daily newsletter today: EXCLUSIVE Visa-backed payments firm Conductor readies U.S. IPO...