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Fintechs: partnerships don’t mean you can be passive when it comes to compliance Written by FinTech Futures 10th June 2019

Partnerships between established banks and fintechs (particularly fintech lenders) are on the rise. A recent PwC survey found that 82% of established financial services firms intend to increase their number of fintech partnerships over the next three to five years. In theory, such collaboration has the makings of a “win-win” scenario. Established banks can get […]

Tighter prudential regulation

Prudential regulation implies that banking institutions must have a “soul”, a gatekeeper with good corporate governance Strong corporate governance to focus on the composition, quality of board members Otherwise, even adequately capitalised banks can be prey to agency hazards KYC procedures would have to be deepened and enlarged Enthrone strict monitoring procedure Apply fully the […]

Shadow Banking, Another Threat?

What is Shadow banking (SB)– a brief reminder: Financial Stability Board (2012) defines SB as “credit intermediation involving entities and activities (fully or partially outside the regular banking system”. A recent one by Claessens and Ratnovski (2014) is quite imperative for situating regulation, SB involves “all financial activities, except traditional banking, which rely on a […]

Financial Technology, a New Tsunami?

Why Tsunami? 88% of banking institutions fear of revenue losses as the use of banking services significantly narrowing owing to increased financial innovations in payments, money transfers and loans (Global Fintech Report 2017, PwC Survey) Share of risk is estimated at 24% of total revenues – a threat to performance and asset quality of financial […]

Swift bags Australian payments contract

Financial messaging network Swift has won the contract to build a ‘New Payments Platform’ for the Australian banking community, ushering in immediate retail payments and the ability to conduct transactions in the absence of a bank account or BSB number. Twelve leading financial institutions have committed funding to the project and signed a 12-year contract […]