The power of digital payments to drive financial inclusion and social justice emerged as a key theme on the first day of the Payments Canada Summit in Toronto.
The Dubai Financial Services Authority is to allow fintech firms to apply for a restricted six-to-12-month financial services license in order to test out innovative new products and services on the ground.
Branchless CivilisedBank has received a licence from the Bank of England ahead of a planned launch early next year.
In the largest funding round in the history of distributed ledger technology, the R3 consortium has raised $107 million from around half of its members as well as Intel and Temasek Holdings.
TransferWise is moving further into traditional banking territory, setting up a 'borderless' bank account for businesses that need a multi-currency account for trading in overseas markets.
Global regulatory bodies are calling for increased scrutiny of credit offerings from fintech-based alternatives to traditional banks.
With banks and emerging technology companies bringing a raft of new innovations and business models to the industry, Claudio Camozzo and Jan Kupfer, global co-heads of Global Transaction Banking at UniCredit, argue that bank-fintech collaboration alongside a customer-focused approach is essential to seize – and maximise – the opportunities at hand.
The EU's financial service head Vladis Dombrovskis is calling on the European Banking Authority to revisit its proposed ban on 'screen scraping' under the revised Payments Services Directive (PSD2).
Tandem appears to be pivoting from its original mission to launch a new app-driven saving bank in the UK, changing its name at Companies House from Tandem Bank Limited to Tandem Money Limited.
Indian mobile wallet giant Paytm is to open its new Payments Bank on 23 March, joining telco Bharti Airtel as one of the first non-banks to take advantage of the Government's relaxing of restrictions on bank licensing in an effort to boost financial exlusion.
© Finextra Research 2017