News > FinTech

Asset managers to size up disruption at Fintech O-2-O meetup
The impact of technology on funds distribution, and the need for infrastructure investment, are just two of the big themes set to be explored at the Fintech O-2-O: Asset Management event to be hosted by Cyberport and NexChange on Thursday (March 17). The event -- which is the sixth in a series of Fintech O-2-O events happening every month --
Microsoft store will not accept Bitcoin
FinTech
Microsoft has announced that its online store will no longer accept cryptocurrency Bitcoin. The tech giant made the low key announcement via an FAQ update. After a moment in the spotlight, Bitcoin has suffered a dip in popularity and become less of a hot topic. Microsoft updates FAQs with news “You can no longer redeem Bitcoin into your Microsoft account. Existing
Bank of America dusts off the checkbook to take on Silicon Valley
FinTech
In its battle against the onslaught of Silicon Valley disruption, Bank of America is coming to the conclusion that "if you can beat them, buy them." The Wall Street Journal reports that the bank is parachuting its president of retail banking, Thong Nguyen, into Palo Alto to sniff out possible M&A opportunities in the payments space. Nguyen told the paper: All
Credit card security still a few chips short, experts say
FinTech
Incomplete adoption of chip cards and readers, and failure to require PINs, leaves consumers and merchants vulnerable. New chip-enabled credit and debit cards can help reduce fraud, but they can’t eliminate it, particularly since most card readers are still asking consumers to swipe their cards rather than insert the smart chips, say some industry experts. Stephanie Ericksen, vice president of
How do bankers see the fintech threat?
FinTech
In a new report, The Economist takes a close look at the way that bankers see the potential impact that the Fintech revolution will have on retail banks. Author Monica Woodley says that the level of disruption in the banking business in recent years is unprecedented. According to a survey included in the report, the majority of bankers expect that,
Beyond board games: 4 other uses for Google's AI tech
FinTech
On Wednesday, artificial intelligence (AI) is expected to reach another big milestone when AlphaGo -- an AI system developed by Google DeepMind -- takes on Lee Sedol, the world champion of the complex and ancient Chinese game of Go, in Seoul, South Korea. Alpha Go and Sedol will play five games over three days until March 12 (the event is
WeBank in the vanguard for adoption of facial recognition technologies
FinTech
WeBank is again showing that it is no slouch when it comes to embracing new trends. China’s first online-only bank, the Tencent-backed firm is cajoling the country’s regulator to allow it to use biotechnology as the main measure of identification on its platforms, reports FinanceAsia. (paywall) “We are a big fan of biotech. Having biotech in financial services will really
Whether big banks can go bye-bye with blockchain
FinTech
Karen Shaw Petrou’s memorandum to Federal Financial Analytics clients on whether big banks can go bye-bye with blockchain. TO: Federal Financial Analytics Clients FROM: Karen Shaw Petrou DATE: March 4, 2016 In my memo last week, I counselled that Neel Kashkari’s TBTF initiative must consider the critical, if unheralded, role big banks play preserving the financial-market infrastructure on which payment,
China’s online payment options – Cashless in Beijing
FinTech
In 2015, estimates for the number of China’s mobile Internet users exceeded 620 million, including 358 million users who paid for items via mobile devices. Mobile payment is quickly becoming the most common means of payment after cash, and debit and credit cards. This trend came to mind recently while I was at my local bakery in Beijing. I had
Singapore banks rush to support fintech startups
FinTech
Singapore’s banks are joining the fintech startup party with gusto. DBS has been in the forefront of the sponsorship of fledgling businesses, but the Lion City’s other two big lenders are also anxious not to miss out. UOB plans to provide seed money for 30 startups in return for a 6% stake in each, with the first batch of 10