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Big banks waking up to potential of blockchain
Having kept their distance from bitcoin, fearing the risks of fraud and criminality, big banks now see huge potential benefits from harnessing the blockchain to make the existing financial system more efficient. “In today’s banking world, it is all about cost savings, as they are all struggling with low returns and that is why they [...]
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20 global FinTech hubs form federation to push innovation
Financial technology groups from more than 20 cities across the world plan to form a federation of ‘FinTech’ hubs this year in what would be the first attempt to coordinate innovation transforming the financial industry. FinTech is under the global spotlight because of its promise – or threat – to ‘disrupt’ traditional financial activity. One of [...]
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Millennials in the US ditching credit cards
Data from the Federal Reserve indicates that the percentage of Americans under 35 who hold credit card debt has fallen to its lowest level since 1989, when the Fed began collecting data in a standardized way, according to an analysis by The New York Times. Some older Americans have also been shedding credit card debt [...]
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UK watchdog confirms investigation in Diebold Wincor Nixdorf ATM merger
Just weeks after the $1.8bn takeover by Diebold of Germany’s Wincor Nixdorf was approved by shareholders and has already been cleared by competition authorities in a number of other countries, the UK’s Competition and Markets Authority has confirmed the situation in the UK “could differ from other countries” in relation to the number of other ATM providers in the [...]
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Whose regulation is it anyway and why it is so important
Sometime it is difficult enough for the industry to keep up with new technology threats and opportunities domestically, let alone regionally or internationally. Given the frenetic pace with which new technology is hitting the market, it is understandable for industry professionals to focus on the technology and worry about how this will sit in the market [...]
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