News > FinTech

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
Japan's government is now scrambling to boost fintech investment
FinTech
Big change is taking place in Japan. The Financial Times reports that for the first time since 1998, the government is looking to ease banking regulations. The changes will allow financial institutions to take larger stakes in fintech startups like Freee, the accounting software firm which closed its $38 million Series C round in December (Crunchbase). Why is this happening now?
4 ways technology has changed the financial services sector
FinTech
The emergence of new technologies has most certainly had an effect on business. For many industries, new technology has drastically changed enterprise operation and structure. The financial services industry has been largely affected by the digital age. Although new technologies and the shift toward the cloud has made things easier, and has allowed these companies to operate on a scale
How these 6 stock exchanges are getting on board with blockchain
FinTech
While bitcoin may have struggled to obtain universal admiration, there is a lot of love for the technology behind it: blockchain. As the financial services industry gets increasing excited about decentralized ledgers, these stock exchanges are taking a serious look at the way they can leverage the technology. Here's how: The Korea Exchange (South Korea). Earlier this week its was reported