The Digital Real is one of the most ambitious undertakings of the BCB, which has been seeking to accelerate financial inclusion in Brazil.
Over my decade-plus covering fintech, I see parallels between earned wage access (EWA) and equity crowdfunding, P2P lending and BNPL.
Last year the U.S. House passed a crowdfunding bill (H.R. 2930 – Entrepreneur Access to Capital Act) but it has...
It was the 19th century German leader Otto von Bismarck who said, “Laws are like sausages. It’s better not to...
The Federal Council of Switzerland is seeking to make the regulatory framework more flexible for fintech companies; they have instructed the Federal Department of Finance to devise a policy statement setting such a direction; recommendations to be considered include: (a) setting a maximum of 60 days for holding money in a settlement account, which will make settlements better aligned with crowdfunding project funding deadlines, (b) creating of an innovation sandbox in which a platform can accept funds up to CHF 1 million, and (c) establishing a new fintech license, with fewer restrictions than on traditional banks. Source
Stress testing from Funding Circle has reported its loan platform would still provide investors with a net return of 6.4% given a worst case market scenario; while effects from Brexit continue to be debated, market skeptics are not as optimistic as the UK platforms; they foresee stagflation in the UK characterized by higher unemployment and slowing GDP growth; they are also concerned about a lack of skin in the game which has prompted parliament member, Chris Philp, to request from the Financial Conduct Authority that a portion of each firm's loans include balance sheet capital; while marketplace lending executives are against this approach, policy makers are considering it. Source
Fed Reserve Governor Christopher Waller said that FedNow will launch a country-wide interstate highway for payments in about six months.
A report from LexisNexis Risk Solutions finds that financial institutions prioritize transparency and inclusion but face challenges.
Earlier this month a task force of Joe Biden and Bernie Sanders supporters released a document with policy ideas including...
Digital ID verification tools must respond quickly and accurately, even as fraudster methods change, Sumsubs's chief legal officer says.