And we’re kicking off the week with new details on fintech, technology, white label, bank’s rebuilding, payments, AI and more. Dive into the latest fintech insights and have a great start of the week!
The Great Unbundling: How Technology Is Making Financial Services Modular and What It Means for Inclusion (CGAP)
Peter Zetterli, Senior Financial Sector Specialist, states that innovation is profoundly transforming many economic sectors – and financial services are no exception. This publication, aimed at financial service providers, policymakers, and regulators, shares CGAP’s perspective on how financial services are changing through a business model lens. It highlights which technology forces are driving the transformation, how the production and consumption of financial services are changing, what new business models are emerging, and how this is changing the nature of retail banking as we know it. Read more.
The Underutilised Potential of White Label Fintech Services (Fintech Magazine)
DERIN CAG, Fintech Magazine editor, provides an examination of the benefits and drawbacks of private labelling fintech solutions, including market opportunities and regulatory barriers. In a world where financial services are rapidly evolving, and consumers demand more convenience, white-label fintech services could be the way forward. With these types of white label banking or financial software solutions, companies can provide all of their customers with an exceptional experience without having to invest in time-consuming development work. Read more.
Fintech 2.0: Is Your Bank Ready for the ‘Great Rebundling’? (Financial Brand)
Craig Guillot, writer at Financial Brand, points out that the pivotal next phase of the fintech trend will be about integrating disparate apps and banking services. It could signal the start of the ‘ecosystem era,’ and will benefit traditional institutions if they move quickly. It’s hard to pinpoint when fintech started, but there’s no denying its prodigious growth in the past decade. What used to be a market of niche applications for younger consumers has now attained widespread adoption across the entire economy. Read more.
One 97 Communication’s Paytm Payments Bank explores possibilities for conversion into SFB (Hindu Business Line)
Founder and CEO says becoming a small finance bank would solve a lot of payment problems. Paytm Payments Bank, an associate entity of the recently listed Paytm (One 97 Communications), is exploring possibilities for conversion into small finance bank and providing more services and offerings to customers. According to Vijay Shekhar Sharma, Founder and CEO, Paytm, a conversion into small finance bank would help it solve a number of payment problems and also facilitate more services to its customers. Read more.
AI And Regtech – OpEd (Eurasia Review)
Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF states that AI is a technology with potential for enormous societal and economic impact, bringing in new opportunities and benefits. Recent technological advances in computing and data storage power, big data, and the digital economy are facilitating rapid AI deployment in a wide range of sectors, including finance. In a recently published paper “Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance,” we discuss the new opportunities and benefits it brings in the financial sector, as well as new concerns it creates and actions needed to mitigate potential risks. Read more.
New European Regulation For Crowdfunding Service Providers
On November 10 2021, the Regulation on European Crowdfunding Service Providers (ECSP) for business entered into force. The initiative is part of the European Commission’s fintech action plan and the mid-term review of the capital markets union action plan.With this new regulation, the European Commission wants to make it easier for crowdfunding platforms to operate across borders within Europe. What are the main focus areas of this regulation? And what consequences does the entry into force have for existing crowdfunding platforms and service providers? Charco & Dique, specialists in the field of financial laws and regulation, explains. Read more.
—
Do you have any news to share: please put feed@hollandfintech.com on your press list.
Curious to read and find out more from fintech? Then subscribe & read our full newsletters here: https://hollandfintech.com/featured/newsletters/. Stay tuned for more insights following up this week regarding news piece
