Philadelphia Federal Reserve Bank President Patrick Harker explained in remarks at the Global Interdependence Center's Payment Systems in the Internet Age conference that increased regulatory oversight of the growing fintech sector is necessary; "Regulation is not just a question of protecting consumers; it's a question of protecting the innovators as well," Harker said. "It's in their best interest to have an established framework in which to operate."; he believes getting ahead of the curve with regulation is the way to go, instead of waiting to respond to the next possible crisis. Source
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News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
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Steve McLaughlin has a wealth of knowledge when it comes to M&A in fintech, having advised on many deals in the space; he founded his firm FT Partners when he was 32 years old; according to data from KPMG, M&A was down in 2016 by 68% compared to 2015; McLaughlin shares his thoughts on what has contributed to the decline and where the industry is going from here; believes that the ability for companies to raise financing rounds has contributed to the lower amount of M&A deals; many companies in fintech are also fairly young when it comes to the earnings which makes M&A not as attractive to banks; McLaughlin also talks about the deals that have occurred in fintech and the sectors that are hot in 2017. Source