Banks Must Collaborate with Fintechs to Drive Innovation
Until recently, banks had an uninterrupted monopoly over banking, finance, loans, and investments. They have always enjoyed a higher position with the vast amount of data they hold. However, the dynamics of the financial market have changed dramatically. New...
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The Growing Popularity of Marketplace Lending or P2P Lending
The financial crisis of 2008 resulted in a global economic disaster and several events where banks began to impose stricter laws against consumer lending. Newer regulatory actions spawned to dry up credit to customers and businesses. Quick and simple loans became...
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Norwegian Ministry of Finance Adopts a New Regulation on Debt-based Crowdfunding
In recent events, the Norwegian Ministry of Finance has implemented a new regulation in the debt-based crowdfunding arena. With the implementation of this new regulation, the Ministry of Finance has put a lid on the uncertainty related to the lender’s activity authorization on debt-based crowdfunding platforms. What is Debt-based crowdfunding? The debt-based crowdfunding has gained…
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How Open Banking Will Regulate Digital Economy
PSD2 was first introduced to the world in January 2018 to regulate the payment and finance sector in EU countries. The directive was launched to force big banks to share access to data with third-party providers (TPPs) promoting competition and bring innovation in the...
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Open Banking and PSD2 will Push Innovation
What is PSD2? The monopoly of banksThe EU directive PSD2(Payment Service Directive 2) are made so that payments and security of consumers can be taken to the next level. To allow for this to happen the PSD2 makes it easier for small startups and others that want to...
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3 Major Trends Driving Banking in the Near Future
A long decade after the global banking crisis, the banking the industry has started to evolve to be customer-oriented and digitally driven. With technology, banks are now more capable of bringing solutions to customers based on their needs and requirements. E.g.,...
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Strong Customer Authentication (SCA) Under PSD2
The concept of open banking lies in the co-existence of banks and emerging Fintech firms. Together, they could bring about new possibilities for creating a customer-centric financial ecosystem. Banks and financial institutions will make use of the vast customer data...
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How PSD2 Will Affect the Fintech Industry?
With the introduction of PSD2, 2018 proved to be a substantial year in the Fintech world. Many countries have started incorporating the directive into their national laws and regulations. Norway is the latest in the list of PSD2 compliant countries. The European Union...
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Blockchain and AI: Endless Possibilities
Blockchain and Artificial Intelligence (AI) are two major technologies that are bringing radical shifts in almost every industry. Each technology, with its massive capabilities, is accelerating the pace of innovation unlocking new frontiers for the human race....
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Adopting Open Banking and API Ecosystem
The concept of being open in regards to user data seems contradictory to banks in the current financial environment. We generally believe that banks must keep our data secure and must not open to any third party. Open Banking is an approach existing because of PSD2 to...
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5 Expert Tips for Businesses to Sustain in the Age of Digital Disruption
Digital innovation is transforming the way we live and work and also beginning to impact businesses in terms of cost, business models, and operational efficiency. Emerging technologies like AI, Blockchain, Big Data, and software-enabled platforms are driving a...
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Blockchain as a Service: An Introduction
“Blockchain” as a search term has now become more popular than “cryptocurrency.” As people understand the potential of the blockchain, they are trying hard to understand all the aspects of this disruptive and emerging technology. Gartner reports, blockchain has seen...
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Companies Need to Innovate or Face a Certain Death
In the 1980s, Apple was fading into obsolescence. It was only when Steve Jobs rejoined Apple in 1997, after having been out of the company for 12 years, Apple resurrected from the verge of bankruptcy. In 1998, Apple introduced iMac which proved to be a game changer...
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Future of Blockchain Beyond Cryptocurrencies
Blockchain as technology has come a long way. It has already started disrupting industries like banking, finance, and supply chain to name the most prominent ones. Blockchain is one of the most talked-about technologies amongst business owners and technology experts....
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Machine Learning – Driving Business Value
Machine learning is a subset of artificial intelligence that deals with algorithms and extracting meaningful insights from the raw data. The technology is significantly changing the way businesses look at and process data. Regardless of the size, companies are...
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