The most proven ways to protect Crypto money from hackers
Mar26

The most proven ways to protect Crypto money from hackers

Since 2009, the world has been slowly boosting the value of newly invented cryptocurrency as the new global banking system. But only in 2017, electronic money managed to cause real fuss among financial analytics, businesses, and regular PC users. Crypto farms popped up here and there, the luckiest people found their e-wallets full of Bitcoins that were waiting for them since 2009. In all this craze and hysteria people struggled to...

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Exclusive: “Joinedupthinking” – Rahul Singh, HCL Technologies
Mar25

Exclusive: “Joinedupthinking” – Rahul Singh, HCL Technologies

Rahul Singh, President and Global Head of Financial Services, HCL Technologies, on how modern insurers create a connected enterprise for a digital world “What’s dangerous is not to evolve, not to invent, not to improve the customer experience” – Jeff Bezos, Founder of Amazon. In the hubbub surrounding his wealth, the Amazon empire and other ventures, we seem to forget that Jeff Bezos also changed the way we do business. He redefined...

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Exclusive: Meeting Fire with Fire (and an open API), Esben Toftdahl Nielsen
Mar25

Exclusive: Meeting Fire with Fire (and an open API), Esben Toftdahl Nielsen

Esben Toftdahl Nielsen, Co-founder of Penni.io and an advisor to the Open Insurance Initiative, on the best defence against the aggregators Recent years have seen an increase in online sales of insurance, largely as a result of customer demand and the inexorable rise of the aggregators to meet it. That said, you don’t see the same picture across the whole of Europe, nor, indeed, across all verticals. While McKinsey estimated that by...

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Exclusive: FF & Alissa Knight in “The Insurtech Magazine”
Mar25

Exclusive: FF & Alissa Knight in “The Insurtech Magazine”

Alissa Knight’s new book is a how-to guide for hacking autonomous cars. Why? Because everyone should know where the weak spots are… including insurers Successfully navigating the UK’s main north/south highway any day of the week is stressful enough. So it was probably just as well no one knew they were sharing their lane with two driverless cars at the start of this year. Part of the government-backed HumanDrive project to accelerate...

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Meeting the challenge of implementing and managing modern storage solutions
Mar19

Meeting the challenge of implementing and managing modern storage solutions

In this digital era, businesses need to do more with less. Unfortunately, yesterday’s storage systems are ill-equipped to meet the business challenges we face today. Legacy systems were designed in a long-gone era and deployed in silos, limiting their availability and their ability to meet virtualisation requirements and deliver both savings and efficiency. Add to this that data storage demands are skyrocketing with the global sprawl...

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Is fraud prevention converging with regulatory compliance?
Mar18

Is fraud prevention converging with regulatory compliance?

Several relevant reports show how the world of fraud and financial crimes is mutable and always changing. Recent research – such as PwC’s 2018 Global Economic Crime and Fraud Survey or Javelin’s Overcoming the Top 10 Challenges to Omnichannel Fraud Management – quantify costs and trends. But they also raise qualitative aspects, sometimes with even more impact. These include reputational risks, requirements for digital...

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Sparing the axe
Mar18

Sparing the axe

Danske Bank believes maintaining a branch network of 225 across 13 countries gives it a valuable way to connect with customers – just not in the way it used to, says First Vice President Line Munkholm Haukrogh The oldest form of retail banking is under unprecedented pressure in an increasingly digital age when customers want to carry out their everyday financial transactions at the touch of a button. Added to the mix is the intense...

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Changing fortunes
Mar18

Changing fortunes

  Sanjiv Sawhney, Head of Global Custody and Fund Services at Citi, on the pressures facing the investment industry – and how it’s helping clients respond The investment industry has undergone intense change over the last two years, with many businesses and individuals working in the sector searching for growth in an age of significant disruption. New fintechs and challenger banks offering an alternative to traditional wealth...

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Going global by staying local
Mar17

Going global by staying local

With a wealth of payment methods now available, the big challenge for ambitious merchants is efficiently integrating them all. Here, Matthieu Barral, SVP of Sales in the UK for Checkout.com discusses his company’s proprietary platform, growing KYC demands and the future of a fragmented payments industry There are now nearly as many different types of payment method and technology as there are types of merchant. Whether it’s Visa,...

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Bringing data into custody
Mar17

Bringing data into custody

Saket Sharma, Chief Information Officer of Treasury Services Technology at BNY Mellon, explains why capturing and controlling ever larger volumes of data is crucial for customer protection and business efficiency Custodian banks have a special duty to protect the financial assets of their customers – and none more so than BNY Mellon. As the world’s largest custodian, it administers $35.8trillion of assets (as of Q3/19) on behalf of...

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A new trade order?
Mar17

A new trade order?

Barclays is using new technology to help steer through unpredictable economic seas. We explore how it’s applying blockchain, AI and the Cloud to give clients safer passage Global trade is slowing and, some say, could be on the point of stagnating, not least as a result of markets struggling to come to terms with shocks such as the Brexit vote (which wiped $2trillion off the markets in 2016) and the US/China trade standoff that rumbled...

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The impact of coronavirus on foreign exchange and currency valuation
Mar10

The impact of coronavirus on foreign exchange and currency valuation

  The coronavirus outbreak is generating growing concern as new cases are identified on a daily basis. The health of the global population – and of the global economy – are at risk. We have seen the connotations of the virus throughout the economy and as fears for a pandemic are rising, China along with other countries are putting in place procedures to protect the economy. China’s central bank has already injected tens of...

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Building a Challenger Bank

Nudging people across the chasm between old and new By Steve Hastings, Founder & Executive Planning Director at isobel The UK consumer banking sector is huge and exciting. We are the largest banking sector in Europe and the fourth largest in the world. There has been well-documented growth among the disruptors, although many in the industry expected this to slow. And yet, a large number of customers still do not use their new bank...

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Bucking the Trend

Ohio is one of the best-connected places for success-hungry fintechs to set up home, says Terry Gore, Director of Financial Services and Fintech at JobsOhio Perched on the eastern edge of the US Midwest, the state of Ohio is perfectly placed for fintechs to succeed. With easy access to some of the world’s greatest financial services markets and offering a pool of talent, the ‘Buckeye State’ – so-named after one of its indigenous trees...

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Showing the love for SMEs
Mar04

Showing the love for SMEs

Access to finance has undoubtedly improved in recent years, but for SMEs (small and medium-sized enterprises), this improvement is not enough Anders la Cour, Co-founder and CEO of Banking Circle, looks at the challenges and opportunities ahead for SME payment providers, and their vital role in financial inclusion. Almost all of them need finance in their first few years, but while loans are an essential lifeline to many, they alone...

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Robo Advisors: 5 Benefits Of Using Investing Apps

Investment and stock market options may appear quite complicated to get into. On the other hand, investment apps get your finances organized, move your money into investing accounts, track how you spend, and can handle everyday financial tasks. There are numerous investing apps found on the internet that you can choose from to suit your needs. If you have an interest in making money, here are the benefits of using the investing apps:...

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Virginterritory – Paul Titterton, Virgin Money

If anyone knows anything about building a successful brand, it’s Sir Richard Branson. Who remembers now that the trademark, pillar box red Virgin Money logos covered up the former Northern Rock fascias after the company bought the North East bank eight years ago, so forceful is its presence. Now, the ultimate challenger brand, which itself was bought in 2018 by Clydesdale and Yorkshire Bank’s owners in a £1.7billion deal that leaves...

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What does the future hold for plastic cards?
Feb27

What does the future hold for plastic cards?

What does the future hold for plastic cards? by Giorgi Mikhelidze, Forex News Show The financial industry has been evolving at a rapid speed and a lot of financial services that people thought would be around for decades to come, are actually being replaced with faster, safer, cheaper and easier methods. This concerns the banks, the loan companies, money transfers and everything in between. And fintech is the driving force behind all...

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The DATA merchants
Feb19

The DATA merchants

Retailing is all about making an emotional connection with customers, according to Angus Burrell and Andrew Howell of global payments solutions specialist Valitor. And, in an omnichannel world, you need data to feel the love With Brexit uncertainty paired with a December election, the UK high street was bracing itself for a gloomy festive season in 2019. Visa’s Christmas marketing campaign even tried to drum up retailer footfall with...

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Digging this gig
Feb18

Digging this gig

With mobile treasury services, build-it-with-the-customer dev ops and an open mind when it comes to payment rails, Bank of America’s Brian Bonds says it’s meeting app-based corporate clients on their own terms Paying suppliers instantly for their services has not been the traditional way that firms do business. But in the gig economy, it is becoming the norm – driven by a desire by companies to keep their suppliers on side in a...

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Spicing up realtime payments
Feb18

Spicing up realtime payments

ACI Worldwide’s Craig Ramsey explains how it’s looking east to develop a new wave of ‘overlay services’ – the secret ingredients that make alternative payment rails irresistible The urgent need for universal, realtime global payments has been recognised across the financial services industry and beyond for some time. And universal payments facilitator ACI Worldwide (ACI) has been helping to make them happen for some time. Now, it is...

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E-asy does it
Feb17

E-asy does it

G+D Mobile Security’s Convego suite of solutions offers banks a way to future-proof their payments services against what appears to be an irresistible move among consumers to open their ewallets. The company’s VP Jukka Yliuntinen shares his thoughts Consumers may still prefer plastic to pay, but ever-increasing smartphone use and a proliferation of industry players means digitisation of payments looks inevitable. Such a shift could...

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Fast, smart, secure…
Feb17

Fast, smart, secure…

… are the ambitions driving Bank of America’s investment in digital infrastructure to facilitate transactions in the supply chain. Julie Harris, Head of Global Banking Digital Strategy, and Geoff Brady, Head of Global Trade & Supply Chain Finance for GTS, discuss the impact From bringing together global female leaders of economic growth and mentoring them at the Global Ambassadors Program in November, to being recognised for...

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Of banks and butterflies
Feb14

Of banks and butterflies

Peter Hazou, Director of Solutions for Financial Services at Microsoft, discusses why moving to a Cloud-based platform is an evolutionary step that will help the banking industry soar on digital wings Banks today face the butterfly challenge: unless they entirely transform their business models to become fully-fledged digital beings, they will cease to be competitive and will be replaced by new entrants who are unencumbered by legacy...

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Cloudcover
Feb13

Cloudcover

  Ciaran Chu, Head of Public Cloud for ACI Worldwide, explains what Microsoft Azure means for ACI and its customers As a global provider of real-time payment and banking solutions, ACI Worldwide fully appreciates how the Cloud can grow its business and help banks and other organisations become more agile and enhance their products and services. It’s why ACI is looking to the digital skies as part of a major overhaul of its core...

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Rising to the challenge of global B2B Payments
Feb12

Rising to the challenge of global B2B Payments

Alan Koenigsberg, Global Head of New Payment Flows at Visa Business Solutions, on how businesses can find a way forward International businesses today increasingly expect global access to finance in real time. They also expect finance to be available to them in a way that works in any country and currency, without the process being stymied by the historical constraints of national boundaries. And they expect financial institutions...

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Don’t mention the ‘P’ word!
Feb12

Don’t mention the ‘P’ word!

Aegon’s Head of Customer and Workplace Propositions, Alasdair Rhind, explains how its digital approach to ‘wage after work’ is changing attitudes to financial planning The fintech revolution has seen many financial services furnished with flashy new paintjobs and impressive under-the-hood innovations. But what’s that hidden behind the Bank Bugattis and Paytech Porches at the very back of the showroom? Pensions could be the Ferrari of...

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Tick, tick, tick…
Feb12

Tick, tick, tick…

Could AI-based digital platforms radically change people’s saving habits and defuse the pensions timebomb? Fahd Rachidy, CEO and Founder of Abaka, believes so Ageing populations, growing at scales that have never been experienced before, are putting strains on economies across the globe. In the UK alone, the Office for National Statistics estimates that, by 2066, the number of residents aged 65 or more will rise to 20.4 million, more...

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A new world trade order?
Feb12

A new world trade order?

Barclays is using new technology to help steer through unpredictable economic seas. We explore how it’s applying blockchain, AI and the Cloud to give clients safer passage Global trade is slowing and, some say, could be on the point of stagnating, not least as a result of markets struggling to come to terms with shocks such as the Brexit vote (which wiped $2trillion off the markets in 2016) and the US/China trade standoff that rumbled...

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SMARTCITYSLICKERS
Feb12

SMARTCITYSLICKERS

Said to be the smartest city in the world, Singapore is using technology to enhance its resilience and sustainability – not least in financial services. From investing US$2billion in green funds to collaborating with near-neighbours in developing crossborder payments systems and setting up a National Office of AI to oversee artificial intelligence, it’s determining its future with brave, bold steps. The strategy was evident at the...

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Love Island for fintechs
Feb11

Love Island for fintechs

A myriad of financial services, all looking for a fintech to embrace, makes Hong Kong a great destination, says Charles Ng, Associate Director General at InvestHK THE FINTECH MAGAZINE: Can you tell us more about the fintech ecosystem in Hong Kong? CHARLES NG: We have 600-plus fintech companies in Hong Kong. It’s a sector that has enjoyed amazing growth. We see that from the survey we conduct with all the co-working spaces – innovation...

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King Kong
Feb11

King Kong

Hong Kong is uniquely positioned where China meets the Western world – geographically, culturally and politically. And it’s where fintech is pushing the boundaries, as The Fintech Magazine’s Doug MacKenzie discovered Hong Kong’s annual Fintech Week might have gone under the radar due to its proximity in timing and geography to the Singapore FinTech Festival – the world’s biggest. But, given recent events in China’s special...

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Lodes of good?
Feb11

Lodes of good?

There are plenty of ideas for tech-for-good. But finding funding for something that builds social rather than financial capital is desperately hard. David Hoghton-Carter challenges fintech to put its thinking cap on I’m wearing a few different hats at the moment – fintech founder, consultant, non-exec, occasional writer and advocate – and there’s an elephant in the room that I keep noticing across my different roles. There’s a big gap...

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Why insurers should stop fearing technology
Feb11

Why insurers should stop fearing technology

Insurtech has the potential to offer new revenue streams and to even help restore the public perception of the insurance industry, as Stephanie Smith, Chief Operating  Officer at Allianz, explains to financial data experts FinTech Global The insurance industry is no stranger to using the latest technologies, giving rise to an entire new sector dubbed insurtech. The innovators in this industry are utilising blockchain, artificial...

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Vietnam in banking’s fast lane
Feb07

Vietnam in banking’s fast lane

With demand for banking services in Southeast  Asia increasing rapidly as populations and economies grow, RBR’s flagship conference Self-Service Banking Asia 2020 will explore how innovation in banking can transform growth challenges into new opportunities. We caught up with Gillian Shaw, the conference producer, to find out more about the region’s hot topics and what we can expect from the event The Fintech Magazine: Why will this...

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Cash in the community
Feb07

Cash in the community

Ron Delnevo, Chairman of Cash and Card World, argues that hard currency qualifies as a public utility, so important is it to everyday life I have been making the case for a number of years that having only one access point for cash in any community is not an adequate provision. I reiterated this point at a round table event, sponsored by the UK Payment Systems Regulator In October 2019, only to have someone jump up to claim that...

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A comfortable compromise
Feb06

A comfortable compromise

Today’s customers want to chill out in a bank branch, not fret about money, says Glory. We invited MD for Asia Pacific, Ben Thorpe, to put his feet up and talk transformation… If endless headlines are to be believed, the rise of the digital-first generation and ubiquity of mobile phones, mean the days of branch banking are numbered. But are they? Ben Thorpe of cash technology innovator Glory thinks not. Why? Mainly because a deeper...

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Keeping an ‘OPEN’ mind
Feb05

Keeping an ‘OPEN’ mind

TSB’s transformation hasn’t always been as smooth as it might have liked, but Pol Navarro, Digital CIO at parent group Banco Sabadell, says it’s now poised to reap the benefits of an open banking world When TSB ran a snap online Twitter poll back in 2018, asking followers if banks opening their data to customers and authorised organisations was a good idea, the response wasn’t encouraging. Although admittedly a small sample, 38 per...

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GETTING IN THE GAME
Feb05

GETTING IN THE GAME

Online platform eToro has turned investing into a team sport with its social media-style community, copycat trading tool and even a campaign targeted at football fans. UK Head of Marketing Stephanie Wilks-Wiffen explains the rules Children learn at a young age in The classroom that copying their mate’s homework can be a neat shortcut to success – as long as your mate’s got the answers right, of course! This, in a nutshell, is the...

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Changing fortunes
Jan31

Changing fortunes

Sanjiv Sawhney, Head of Global Custody and Fund Services at Citi, on the pressures facing the investment industry – and how it’s helping clients respond The investment industry has undergone intense change over the last two years, with many businesses and individuals working in the sector searching for growth in an age of significant disruption. New fintechs and challenger banks offering an alternative to traditional wealth management...

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An issue of trust
Jan30

An issue of trust

A proposed guideline framework for assessing digital ID systems could bring order to chaos and set the global standard for integrity, says Trulioo COO Zac Cohen   Exposed databases containing our most personal information – information that dark web dealers, security hackers and, by extension, money launderers, traffickers and terrorists – have been described as ‘the ugly elephant in the room that every security professional...

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What the Fifth Money Laundering Directive (5AMLD) actually means…
Jan20

What the Fifth Money Laundering Directive (5AMLD) actually means…

By Dhanum Nursigadoo, Financial Crime Specialist,  Comply Advantage The EU’s regime to address anti-money laundering, and to counter the financing of terrorism is reinforced this week, with the Fifth Money Laundering Directive (5AMLD) coming into force. It impacts five main areas: cryptocurrencies, prepaid cards, high value goods, beneficial ownership, high-risk countries, and politically exposed persons. Cryptocurrency Virtual...

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Bringing Blockchain technology to Basketball
Dec03

Bringing Blockchain technology to Basketball

Blockchain technology has found widespread use and adoption. It has survived the tryst of times, and has emerged as an integral part of transparency, logistics, and consumerism. Blockchain technology finds its application in the health sector, energy stratum, and travel sphere, among others. Bitcoin is blockchain technology’s proudest exponent, and as of the 30th of November, 2019, its price stands according to coinmarketcap at...

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DREAMBIG
Nov26

DREAMBIG

With new offices in Germany, a new lending licence in Canada and a JV bank in China, SVB is ‘venturing’ forth to help fintechs change the world, says Head of Global Treasury and Payments Advisory for the UK and Europe, David McHenry Silicon Valley was once described as being populated by eccentrics and dreamers – but there’s one bank that made it its business to take their ideas seriously. Born, as the name suggests, in the technology...

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Openingdoors
Nov20

Openingdoors

ndgit CEO Oliver Dlugosch, and Head of Business Development, Franziska Zangl, believe PSD2 revealed a portal through which European banks can enter a new financial era. All they need is the API key The implementation of the EU’s revised Payment Services Directive (PSD2) heralds a new era of open banking in Europe that is likely to light the touch paper for a revolution in global finance. It will open doors to new customers and new...

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How to be a successful entrepreneur
Nov19

How to be a successful entrepreneur

Agustin Rubini, fintech author, influencer and Founder of consulting firm FSPal.com, shares insights from his new book, Fintech Founders: Inspiring Tales From The Entrepreneurs That Are Changing Finance THE FINTECH MAGAZINE: You’ve met and coached extraordinary founders during your career and shared some of their stories so that others can benefit from their experience. How important is it, do you think, to have a mentor or a coach to...

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A hitchhiker’s guide to the identiverse
Nov18

A hitchhiker’s guide to the identiverse

Will identity-as-a-service be the next banking business model? Will self-sovereign identity solve the paradigm of security versus ease of use? These and other questions will be explored on the Innotribe stage at Sibos. Alex King probes the outer reaches of verification technology for an ethical solution to who owns our digital selves How many times have you read an article that opens with the tired old maxim that ‘our identities are...

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So, what IS the future of… Money?
Nov15

So, what IS the future of… Money?

For nearly a decade, the Future of Money session at Sibos has been one of the most eagerly anticipated and keenly attended. It’s the forum where wise words have been shared and debated. It acts as a crystal ball, with top industry figures identifying and discussing the major disruptive trends likely to shape the financial services landscape and the notion of money itself. If you’re curious about what’s over the horizon, read on… This...

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IT’S ALL A QUESTION OF TRUST
Nov14

IT’S ALL A QUESTION OF TRUST

We talk to Alex Batlin, founder and CEO of Trustology, about the crypto space, Facebook’s Libra platform and building faith in decentralised finance THE FINTECH MAGAZINE: Where do you think we are now with blockchain-based decentralised finance? ALEX BATLIN: Decentralised finance (DeFi) is evolving quickly. What we’re seeing is the first wave of service platforms and providers interacting with decentralised currencies like Bitcoin and...

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Big changes ahead for small business banking
Nov13

Big changes ahead for small business banking

Anders la Cour, Cofounder and Chief Executive Officer of Banking Circle looks at the challenges and opportunities ahead for fintechs serving SMEs SME is a term that covers an incredible range of businesses, from one-man bands to chains with more than 200 employees; local businesses or companies trading internationally and seasonal pop-up shops, to permanent local favourites. What they do have in common, however, is that they all need...

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