BankTech

Can Singapore Become the Ultimate FinTech Hub of the APAC Region?

Singapore can be considered one of the gems of the global financial services industry ecosystem with ~200 banks with total assets of $2 trillion having operational headquarters in Singapore. IT procurement budgets of these banks reached $485 billion in 2014. With global trends towards tight collaboration among traditional financial institutions...

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BankTech

The Latest Bank-FinTech Initiatives

As some estimations suggest, ~$4.7 trillion out of $13.7 trillion of the traditional financial services’ revenue is at risk of being displaced by new technology-enabled entrants which include FinTech players from lending, wealth management, payments and others. Even though there is a debate on the accuracy of estimations with some...

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BankTech

Why Join a Regulatory Sandbox?

Financial industry authorities caught some sort of a fever in 2016 with regulatory sandboxes launched around the world. The trend demonstrates openness and the forward-thinking attitude of the governments in terms of innovation implementation. A great contribution to economies, regulatory sandboxes are also a fantastic opportunity for startups to get...

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Authentication & Security

The Story of OTP

One time passwords, or OTPs as they are popularly called, have become the authentication factor of choice for most of the payment service providers in India. The use of OTPs extends to non-financial transactions as well, for instance, logging a customer to a smartphone application. Currently, all banks and mobile...

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Enabling Technologies

Synchrony Financial Invests in FlexReceipts, Inc.

Strategic Investments Group Makes Investment in Emerging Technology Provider of Digital Receipts and Customer Engagement Solutions STAMFORD, Conn.--(BUSINESS WIRE)--Synchrony Financial (NYSE:SYF) today announced a strategic investment in flexReceipts, Inc., a provider of enriched digital receipts, data analytics and customer engagement solutions. The investment was made through Synchrony Financial’s Strategic Investments...

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BankTech

Global Microtransactions

International payments are not optimized for micro transactions. A foreign withdrawal from an ATM may be charged up to 5%. Wire transfers from banks deduct an arbitrary fee sometimes both from the sender and the receiver. Banks are often not upfront about the currency exchange rates and swallow money in...

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