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News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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In a report by Moody's Investor Services, the rating agency has downgraded the global asset management industry to negative; factors for the downgrade are focused on active management performance, global regulation and increasing costs; a McKinsey report published last month pointed to the new fiduciary rule, set to be enacted in April 2017, as an industry altering step as advisers will be forced not to consider their self interests with high commissions when servicing their clients; capital has continued to flow from actively managed funds to ETFs with costs being significantly lower. Source
One of the last actions of the Obama administration this week was to release a policy framework for fintech. This was a follow up from the White House Fintech Summit in June 2016 where many of the leading fintech companies gathered in Washington for a day of presentations and roundtable discussions. The paper provides a framework with ten principles that policymakers and regulators can use to think about and engage with the fintech ecosystem. Given today is the inauguration day for a new administration we won't know if these principles will be carried through but we do hope the Trump White House will make fintech innovation a priority. Source
It might have been a short week but it was full of...
During pandemic, Personal Capital sees customer inflows, positive feedback for recent rebrand...
The Hong Kong Monetary Authority has partnered with HSBC, Bank of China, Bank of East Asia, Hang Seng Bank, Standard Chartered and Deloitte to launch a trade finance blockchain platform; trade finance operations serviced on the platform will include lending, issuing letters of credit, factoring, export credit and insurance; overall the platform is expected to increase efficiency, transparency and security. Source
Mark Williamson, chief operating officer of FX cash trading and risk management,...
Alibaba will bring a version of its smartphone-based payment platform to Japan as early as 2018 spring; the Japanese unit of Ant Financial will offer a version of the Alipay digital payment system tailored for the Japanese market under a new brand. Source
IBM has joined the non-profit Sovrin Foundation which is looking to build a global decentralized identity system with blockchain technology; IBM will be a founding steward of the foundation and will be providing hardware, security and network capacity to further their cause. Source
LendEDU is a website that claimed to be a place for users...