fintech

Thirty Recommendations on Regulation, Innovation and Finance

By Editor

 The opportunities (and risks) presented by fintech are creating undeniable and unavoidable changes to economies worldwide – but how should regulators respond? The Expert Group on Regulatory Obstacles to Financial Innovation (ROFIEG) was set up by the European Commission in June 2018 to explore this question. Recently it published its recommendations, both identifying regulatory obstacles […]

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Machine Learning Analysis of Big Data more effective for Credit Scoring

By Editor

We’ve heard a lot about the potential of fintech to open up access to credit by using big data and alternative data sources to assess risk – but how do these techniques actually stack up when compared to traditional credit scoring? A recent working paper from the Bank for International Settlements (BIS) looks at transaction […]

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Data Amplified 2019: China, the First Country to Kill Cash?

By Editor

Keynote speaker Mr Jerry Zhou, Chairman and CEO of Huifu Payment, gave the audience of Data Amplified an insight into China’s booming payments industry. China’s payment industry is renowned – with most people in China using mobile payment based on QR codes for daily payments. Zhou even argued that you could say ‘China is the […]

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IMF Explore the Rise of Digital Money

By Editor

Tomorrow, when you buy your morning coffee will you rifle through your wallet for some coins or a card, or wave your phone? Or maybe send a text, or deposit a digital token? The way we pay for things is changing, with e-money challenging traditional cash and bank deposits. How should we think of new digital […]

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Fintech Regulation Across the EU Mismatched

By Editor

The European Banking Authority (EBA) have published a report analysing how the regulatory framework is applicable to fintech firms, illustrating the changing regulatory status of fintech firms and the different approaches of authorities across Europe. The report has noted two particular developments in the regulatory status of fintech firms. Firstly, many firms are shifting from […]

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ESMA Report Finds Gaps in Crypto-Asset Regulation

By Editor

The European Securities and Markets Authority (ESMA) have published a report looking into the inconsistencies of fintech licencing across the EU. ESMA surveyed national competent authorities on the licensing regime of fintech firms in their jurisdictions, looking to assess how existing regulation of fintech firms diverge. While national authorities across the EU do not treat […]

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Can Regtech Solve the Fintech Problem?

By Editor

As we’ve reported here before, the financial system is currently undergoing a technological revolution that regulators must respond to. Cryptocurrencies, new payment systems (tap to pay is becoming the norm) and digital banking all need new forms of oversight. At the same time, banking supervision is a highly complex system, with regulatory submissions reaching record […]

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IMF Warn of Financial Innovation Risks

By Editor

The International Monetary Fund (IMF) have added their voice to those highlighting the unique challenge big tech and fintech pose to financial stability at the opening of the G20 Seminar on “Our Future in the Digital Age” in Japan last week. Christine Lagarde, head of the IMF, voiced concerns that, if not managed with balance, […]

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IMF Call for Balance for Fintech Regulation

By Editor

How best to balance the opportunities and threats presented by fast-growing Fintech? The IMF’s First Deputy Managing Director, David Lipton, called for a multilateral, international approach at the 2nd IMF Fintech Roundtable this week. Fintech has seen world-wide changes, with reduced costs and transaction times and boosts to growth and living standards – however, it […]

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SEC to hold Fintech Forum

By Editor

The Securities and Exchange Commission (SEC) announced this week that in May they will be holding a Fintech forum to discuss distributed ledger technology and digital assets.

The SEC has taken a mixed approach to digital asset regulation, with SEC Chairman Jay Clayton suggesting that digital assets both do and don’t qualify as securities, depending on their design. To help clarify the regulatory ambiguity around digital assets the SEC established its Strategic Hub for Innovation and Financial Technology in 2018 (FinHub). Finhub now seeks to improve communication with and understanding of the digital asset industry with this forum.

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