Facebook’s Libra blockchain to promote open identity standard
Facebook has recently unveiled details of its much-awaited digital currency, Libra, which is built on the foundation of blockchain. Libra allows you to send money to your friends and relatives or buy things with nearly zero fees. Since the launch of the white paper,...
Alternative finance to go mainstream?
In 2017, the alternative finance market grew by 36 percent to reach €10.44 billion. The growth seemed most prominent in the UK witnessing the overall market rise of a massive 68 percent, followed by France, Germany and the Netherlands. Despite the effect of Brexit on...
Banks are pushing adoption of blockchain to foster innovation
Blockchain technology, even in its infancy, has disrupted the banking and finance sector. Various features like immutability, transparency, and decentralization make the technology immensely fitting for various industries and markets. Talking specifically about banks,...
Libra: Facebook coin to balance the world of cryptocurrency
Latest Update:According to Wall Street Journal, Facebook has recently sealed a deal with Uber and Payment giants like Visa, Mastercard and Paypal for the coin. The news alleged said that these firms whose businesses extend across finance, e-commerce, telecom and venture capital are going to invest around $10 million in a consortium that will govern…
How Blockchain Will Transform the Pharmaceutical Industry
The global pharmaceutical industry is expected to reach $1170 billion in 2021 from $934.8 billion in 2017, according to a recent report by the Business Research Company. The pace of market growth, though, increased in 2018 from 2017 (5.8% from 5.2%), it is still...
Five Ways Artificial Intelligence is Accelerating Growth in Fintech
Fintech is thriving globally and is estimated to reach $638 billion by 2024 in terms of revenue generation. With technology at its core, it has redefined how financial services can be delivered with a customer-centric approach and enhanced security measures. The...
Will Tokenization Change Crowdfunding Forever?
In this technology-driven world, businesses have become more modern and progressive than ever before. SMEs around the world are beginning to offer new lines of services and adopt alternative finance models in order to generate funds. Models like peer to peer and...
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...
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...
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…
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...
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...
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.,...
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...
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...
