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Leaked data suggest Twitter users are tweeting less and less
FinTech
Business Insider has obtained a set of data that, if legitimate, reflects the ongoing narrative about Twitter. The once-lauded startup has been floundering since soon after its 2013 IPO—but more recently, sluggish use growth, a round of layoffs, plunging stock prices, and high-profile departures from its executive board have left Twitter rudderless. Now, Business Insider reports, leaked data collected through
All aboard the blockchain bandwagon!
FinTech
Blockchain is no longer on the fringes of fintech. Now, not a week goes by when another big name -- in finance or tech – doesn't announce its going big on blockchain. The latest addition to the list is JPMorgan Chase, which is launching a trial project with Digital Asset Holdings, the startup run by the bank's former head of
Facebook for bankers: NexChange aims to take on 50-75 million finance professional market
FinTech
Juwan Lee, the energetic founder of NexChange, an exclusive network for financial professionals, like any Fintech CEO, spends a lot of his time on the road, writes FinBuzz. The entrepreneur splits his time between Hong Kong, New York, and London. The network, which is available both on desktop and smartphones, brings together industry peers on a social and professional level, and
You could soon get cash from ATMs using Apple Pay
FinTech
You could soon be able to withdraw cash from ATMs using Apple Pay, negating any need to carry a credit or debit card around with you, reports TechCrunch. According to its sources, Bank of America and Wells Fargo are both working to enable Apple’s digital wallet service to withdraw cash from ATMs by placing their iPhones near the cash machines
P2P solution to China Inc's unpaid bills?
FinTech
China CITIC Bank, a unit of the country's biggest investment group, uncovered a Rmb1 billion ($152 million) fraud last year in its bill financing business. Apparently an employee at its Lanzhou branch falsified documents that were used as collateral to get a banker's acceptance note. But, more serious for corporate China is failing to get paid after presenting genuine bills. The
Kill the paper trail: finance document startup could save banks 50% on drafting negotiations
FinTech
The fast-track cloud-based negotiations and documents startup ClauseMatch is one of the 15 FinTech startups selected to take part in Accenture’s 2016 FinTech Innovation Lab in London, reports FinBuzz. ClauseMatch is a platform that helps streamline the workflow of documentation providing real-time editing, approvals and tracking in trade agreements for derivatives and commodities. ClauseMatch founders claim if ClauseMatch is implemented into the workflow
Ditching paper: Which country will go cashless first?
FinTech
Britain is becoming a "cash-second" nation. On Tuesday, Visa Europe said contactless payments in the U.K. soared by 11.5% in 2015, while boasting that point-of-sale spend had risen 9.6%. Kevin Jenkins, the firm's MD for U.K. and Ireland, even told Finextra that in five years' time cash will be seen as a "peculiar way of paying for things." His comment chimes
What is dead may never die: Are Chinese miners really killing bitcoin?
FinTech
Bitcoin is on its death bed. At least, that's what Mike Hearn -- a high-profile supporter and developer of the cryptocurrency -- is insisting. Last week he wrote a lengthy blog on the demise of the currency called "The resolution of the Bitcoin experiment." The post summarizes Hearn's reasons for selling his Bitcoin, giving up on the project, and joining blockchain
Virtual currencies as a weapon of state control
FinTech
Do governments see crypto-currencies as a threat or a tool? At the Asian Financial Forum in Hong Kong this week, former Federal Reserve chairman Ben Bernanke was adamant that Bitcoin et al would not become mainstream. State authorities would resist its adoption because of its anonymity and hence use in drug trafficking and for financing terrorism, he argued. Yet, the
Blockchain a boon to emerging markets, but commercialization will take time (corrected)
FinTech
Blockchain -- the technology behind bitcoin -- is not only making waves in the banking industry, but its application could also have a big impact on emerging economies. Speaking at a panel on financial innovation at Asian Financial Forum on Tuesday, Gregory Gibb -- chairman of Shanghai Lujiazui International Financial Asset Exchange -- noted that blockchain's could fill the gap around