Fintech and Financial Services: Initial Considerations
Fintech and Financial Services: Initial Considerations; SDN/17/05; June 19, 2017
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Fintech and Financial Services: Initial Considerations; SDN/17/05; June 19, 2017
Fintech leaders are wanted to bring transparency in the Australian small business sector. Ombudsman Kate Carnell launched a research project this week with FinTech Australia and independent SME finance expert Neil Slonim from theBankDoctor.org. The project will survey fintech small business lenders to identify industry best practice to help SMEs better understand their fintech borrowing options.
With the revised Payment Service Directive (PSD2) on the horizon, banking institutions are increasingly eager to take action - though most have yet to make a move - to get a head start on this new regulation and weather the storm of industry disruption that will no doubt ensue.
Consistent with the theme of Germany's G20 Presidency in 2017, "Shaping an interconnected world", the GPFI SME Finance Subgroup will work on the implementation of the following priorities in 2017:
In Britain alone millions of people make formal complaints each year about their banks. For them, Sebastian Siemiatkowski, founder of Klarna, a Swedish payments startup, brings good news. New European rules, he says, will open the door to a host of innovative services that analyse transactions, so “an app could tell you there’s a cheaper mortgage available and start the switching process for you.” Apps could warn account-holders if they spend more than a predetermined amount or are about to become overdrawn, or even nudge them to save more.
This Report argues for reaching beyond increasing access to credit. Countries within Europe and Central Asia (ECA) must build integrated financial systems, enabling prudent inclusion in a region significantly lagging in the use of saving products. Striking the right balance across all dimensions of financial development (stability, efficiency, inclusion, and overall depth) is crucial for achieving and sustaining inclusive growth.
The SME Finance Forum in partnership with the CDC Group is organizing the 2017 IFI-DFI Working Group Meeting on SME Finance
The Monetary Authority of Singapore (MAS) announced it will relax some business restrictions on finance companies to help small- and medium-sized enterprises (SMEs) obtain financing.
Bank regulatory bodies need to coordinate their strategies for dealing with emerging financial technology at a global level, says a new report from International Organization of Securities Commissions (Iosco). The Iosco Research Report on Financial Technology highlights the growing intersection between fintech and securities markets across a number of critical business areas, including financing platforms, robo-advisory services, innovations in bond tradi
The African Development Bank (AfDB) and the Alliance for Financial Inclusion (AFI) have signed an agreement signed to enhance access to quality financial services on the continent. The agreement aims to create a collaboration framework to promote financial inclusion in Africa.