News > FinTech

German banks are bracing themselves for the fintech onslaught
The startups are coming. German banks need to brace themselves for potential devastation from the fintech revolution. Almost a third of all German banks revenues could be jeopardized in the next few years, reports McKinsey and Company. Fintech companies already have a strong presence with users in the European country, but "by 2020 almost half of all German bank customers will
In China, some online lenders demand nude selfies as collateral
Some Chinese online lenders are asking for a new level of transparency from borrowers. According to the People’s Daily Online, borrowers – mostly university students -- have agreed to bare everything in exchange for cash and the risk of, uh, exposure. Shame is a powerful deterrent in most cultures and these unscrupulous lenders are tapping that emotion to the max:
Chief security officer may be the job of the future that no one wants
The gold rush for top security leadership is anything but stable. Almost three years ago, one of the most historic hacks happened: Target disclosed that 40 million of its of its customers’ credit and debit card data had been compromised. Bloomberg Businessweek called it "the biggest retail hack in U.S. history." The fallout was huge. The company spent tens of
The geek's glossary: A guide to fintech jargon for 2016
For the uninitiated, getting to grasps with the terminology surrounding the financial services and technology sectors can be challenging at the best of times. It's no wonder then that the combination of the two has given rise to a whole new lexicon for us to get our heads around. Here is a guide to some of the fintech buzzwords that will
How banks learned to stop worrying and love the blockchain, Bitcoin's underlying tech
Bitcoin was going to disrupt the world's big banks. Instead, its technology is poised to save them billions of dollars. When bitcoin first appeared a little over eight years ago, early adopters saw the potential to disrupt the big banks of the world. It's all there in the very first line of the abstract to the paper that introduced the
Millennials driving fintech development
Music, tech, politicians, finance - they all want the same thing: the hearts and minds of millennials. In the rapidly developing fintech world, millennials are often a driving force working behind the scenes and pushing traditional financial institutions to veer away from the cumbersome, expensive, in-person interactions of old. The app economy especially "is largely driven by the millennials," says
Microsoft is buying LinkedIn for so much money
Back in 2006 when Rupert Murdoch plunked down $580 million for MySpace (lol), the snarky response was that if one can't generate buzz, then one might as well buy buzz. Alas, that did not work out so well for Murdoch. And now there's Microsoft, which has struggled to generate buzz in this modern, social media-obsessed age when the release of a new version of
The women to follow all year-round on financial Twitter
We've compiled a list of women to follow on financial Twitter all year round. From economists to traders, here are the women NexChange has selected. Who would you add to the list? Download the app here to comment. Big thinkers/economists: Stephanie Kelton @StephanieKelton Professor, political/economic commentary – advisor to Senator Bernie Sanders Christine LaGarde @Lagarde Managing Director of the International Monetary Fund
Chinese buying frenzy sees Bitcoin surge above $600
The recent surge in Bitcoin buying saw the cryptocurrency shoot past $600 over the weekend, hitting a two-year high. One needs to look no further than China for a reason why. According to experts cited by CoinTelegraph, fears of a devaluing yuan, combined with capital controls, has fueled the latest buying spree. The same was true when Bitcoin jumped to
Pro football player sues business manager who allegedly blew $3M in bitcoin scheme
Darren McFadden, a running back for the Dallas Cowboys, has sued his former business manager for allegedly mishandling his money, including losing $3 million in a bitcoin business venture, The Dallas Morning News reports. McFadden filed the $15-million lawsuit against his former business manager, Michael Vick (not the same Michael Vick who plays quarterback in the NFL), and 10 other people