Fintech News Issue #289 November 5th, 2020

Experts say that crypto, p2p financial services, regulatory harmony, and more are on the horizon in 2021.

Move prompts reassessment of whether the company’s growth and profitability will be curtailed

PayPal’s earnings don’t excite Wall Street, but bring good news for consumer fintech

This is a group for anyone interested or working in FinTech and InsurTech Projects, Startups, Topics. In this Meetup series I would like us to come together and discuss facets of this young and thrilling industry. Tag cloud: crowdinvesting, crowdfunding, P2P Lending, mobile payment, crypocurrencies, new banking, wealth building, investing, banking APIs, finance portals, insurance, insurtech, web mobile and embedded apps.

No politics from my side here, but just reflecting on the politics of America. The US election – whatever your view of its process and outcome – leaves us with a different perspective on financial markets and, specifically, on FinTech start-ups and funding.

London-based fintech Revolut is on the hunt to find its first-ever chief commercial officer to build an ambitious new sales stream.

Campaigning group Which? is calling on banks to refund victims of computer takeover scams, with new figures from Action Fraud showing £16 million was defrauded from consumers using this technique last year.

Consumer data remains widely used in a majority of today’s businesses, from banks and lenders, to marketers and employers.

With the onset of COVID-19, financial institutions made decisions quickly ... in a crisis mode. New solutions were created and deployed and new processes were leveraged to facilitate a remote working reality.

The Hong Kong Monetary Authority has outlined a slew of new initiatives on bank data exchange, CBDC research, trade finance digitisation and RegTech, as the island state kicks off its annual Fintech Week.

All industries are feeling the pain of preventing rising risks to their applications, private information and customers’ data, and it is not surprising that this is especially true in the financial services sector.

The pandemic has pushed regulators globally to ramp up fintech oversight.

I reported last week Jack Ma’s rant at the banking industry as having Basel Accords created by “an old people’s club” and that banks have a “pawnshop” mentality. I said that I agree with his sentiment – which I do – but it ain’t what you say, it’s the way that you say it and he said it wrong.