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Bank of England enters the crypto-currency war
It’s not only commercial banks that are fighting back against the activities of fintech disrupters. Central banks too are doing their best to counter the threat of interloper crypto-currencies. “Computer scientists have devised a digital crypto-currency in league with the Bank of England that could pose a devastating threat to large tranches of the financial industry, and profoundly change the
Bank branches aren't going away anytime soon
FinTech
The rise of Fintech has posed a serious threat to the traditional branch banking model. Neobanks and other online financial services companies are able to avoid the costs of running and staffing physical branches, and they can pass those savings on to their customers. A new study by Bankrate, however, indicates that the branch model will not be going away
Video: Regulators to take a closer look at fintech business models in 2016
FinTech, Video
Regulators will be taking a deeper dive into fintech companies to understand how their business models do and don't work with current regulations, says Lee Schneider, counsel at Debevoise & Plimpton. At a recent LaunchTalks event, Schneider said regulators are particularly focused on issues around money laundering and cybersecurity.
Presidential election won’t mean large regulation changes for finance world
FinTech, Video
The outcome of the U.S. presidential election is unlikely to affect regulations for financial services, says Lee Schneider, counsel at Debevoise & Plimpton. At a recent LaunchTalks event, Schneider explains one reason for that surprising comment: Many regulations today, such as Basel III, come from international bodies, crossing boarders regardless of who is in office.
Cybersecurity a big concern in 2016 but navigating regulation may be the bigger challenge
FinTech, Video
Cybersecurity is top of mind for most fintech companies, but that's something these MIT grads and Fulbright scholars can handle, says Joanna Fields, founder of Aplomb Strategies, at a recent LaunchTalk event. The knottier problem for these brainiacs: regulations. It's just not part of the curriculum.
How Paypal and Bitcoin can be a handy workaround for China capital controls
FinTech
As a devalued yuan threatens more capital outflows, the Chinese authorities are trying to stem the hemorrhaging by tightening controls. But fear not, fintech innovation could be a handy tool for those wealthy Chinese trying to squirrel money out of the country. Transfers using Paypal and cryptocurrencies like Bitcoin feature in a toolbox of methods being employed by savvy investors
Insurance tech had a record-breaking start to 2016
FinTech
It is a relatively nascent segment within the broader fintech sector, but investments in Insurance Tech have still soared in the first quarter of 2016. According to CB Insights, the first quarter of 2016 saw early stage investments break all previous records for the same period in previous years. Over $55 million has been invested in Insurance Tech so far this year.
Banks’ adoption of blockchain: an updated primer
FinTech
Banks are kicking the tires on blockchain technology but implementation is some time away, especially since banks need to learn to collaborate extensively to make it work. Blockchain is a type of  “distributed ledger,” that is, a database maintained collaboratively by several participants. The computers agree on how to update transactions using a "consensus mechanism," after which the modifications they have settled
Beijing is China’s startup hotspot, according to survey
FinTech
China’s startup crucible is neither racy Shanghai nor parvenu Shenzhen. Instead, crusty Beijing is emerging as the country’s Silicon Valley. A report by the National Survey Research Center at Renmin University of China found that more than 30% of 2,100 entrepreneurs across 21 cities interviewed said that Beijing had the best startup environment. Cities in the Yangtze Delta region such
What happens when we become a cashless society?
FinTech
Imagine a future where everything is seamlessly paid for via your phone. It's a beautiful vision—with some dangerous unintended consequences. The U.S. government didn’t issue banknotes until 1862. Before that, people paid for goods and services with a mix of government-minted coins and currencies issued by private banks. And now cash is on its way out, accounting for just 40%