GenZ is likely to approach finances differently than generations before, making basic financial literacy critical to avoid bad decisions.
Hong Kong's Legislative Council Panel on Financial Affairs published a document this week on their digital currency plans; The Hong Kong Monetary Authority (HKMA), which acts as their central bank and financial regulator is working with banks and R3; according to the document: "The first phase of the research, which explores the feasibility of [central bank-issued digital currency] in performing domestic inter-bank payments, inter-corporate payment in the wholesale market and delivery versus payment (DvP) debt securities settlement, is expected to be completed in the fourth quarter of this year. Subject to the findings of the first phase, HKMA will map out the next steps." Source
Smaller dollar loans can be very profitable and are often provided by payday lenders; there are also some fintech companies...
Last week we learned that Kabbage was expanding internationally to India; they have set up an office in Bengaluru and...
Digital Banking Platform Rellevate Aims to Raise $4 Million on SeedInvest. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and
WeChat recently started to offer users access to mutual funds, just another service they were able to add to the platform; the open platform based approach where you can plug in different services through an API is where financial services is headed; while those in Europe and the US might not be as advanced as China they know innovation like this is coming; “It really shows incumbents that they’ll need yet again to pivot to a new platform; that it’s not the bank that’s the platform anymore,” April Rudin, chief executive of wealth management marketing firm The Rudin Group, tells TearSheet; message based financial advice is the next natural step for clients who have transformed the way they interact in recent years from the phone call to the text message or chat service. Source.
The Student Borrower Protection Center released a report which digs into how education data in underwriting may be causing educational...
The report will be released on a quarterly basis going forward and will look to cover credit performance trends; highlights of the report include continued credit re-normalization across all major lending groups and consumer installment lenders are not anticipating an increase in loss rates; they also cover the shift in the competitive landscape where more banks are investing heavily in tech and that the US consumer is quite healthy right now. Source.
The tax preparer has a well-recognized brand and wide reach, but needs tech help for its neobank.
Wirecard was once seen as one of the hottest fintechs in Europe and as recently as last week their share...