SMERSS

Data gets greater with new Singapore group

Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) has set up a new Data Analytics Group (DAG) with effect from 15 March 2017 as it looks to improve the financial sector and digital economy. DAG will use data analytics for insights, “enhance the supervision” of financial institutions, make regulatory compliance better for financial institutions, and improve work […]

Trade finance and blockchain: the right time

Trade finance and blockchain

Financial institutions and technology companies have tinkered with trade finance for years, but progress has been slow. Despite automation advances in many areas of financial services, trade finance remains a largely paper-based, manual process. But it could be one area where blockchain technology will be successfully applied.

New SME bank for “millennipreneurs” comes to Europe, BankUP

2016 brought us many new digital banks

BankUP, a new fintech venture based in Kontich, Belgium, looks to tap into the European SME banking market.

The Monday mindset: 6 February 2017

Banking Tech 2

Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy on India’s latest budget and its implications for e-payments and digital economy.

Top fintech stories this week – 3 February 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Dubai ponders regulatory framework for loan-based crowdfunding platforms

DIFC

The Dubai Financial Services Authority (DFSA) has issued a consultation paper, “Crowdfunding: SME Financing Through Lending”. The paper proposes a regulatory framework for anyone looking to operate a loan-based crowdfunding platform in the Dubai International Financial Centre (DIFC).

Berlin-based online lender Spotcap starts operations in New Zealand

Auckland-New-Zealand

Spotcap, an online lending company headquartered in Berlin, Germany, has announced it is now operating in Auckland, New Zealand, as a registered financial services provider and is accepting applications for credit of up to NZD 250,000 ($182,000) from eligible businesses.

New mobile banking service Tide launches in UK

Tide

UK-based mobile banking firm Tide has launched with its business account app for SMEs. As Banking Technology reported in July 2016, Tide was gearing up for its launch and said it will offer a “nimble small business current account”, with a swift set-up and no monthly fees. It claims to be among the “world’s first” […]

FairFX gains e-money licence with takeover of digital banking service for SMEs, Q Money

Tony Quirke, founder of Q Money and new CFO of FairFX

FairFX, a London-based multicurrency payments service, has acquired Q Money and its e-money licence.

Seven European banks join forces for blockchain platform for SMEs

Major banks team up for blockchain platform for SME commerce

Seven European banks – Deutsche Bank, HSBC, Natixis, KBC, Rabobank, Société Générale and UniCredit – have agreed in principle to develop a blockchain-based shared platform for domestic and international commerce for SMEs.

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