Wednesday, August 31, 2016

LATEST NEWS

Abu Dhabi plans FinTech regulation lab

The FSRA of Abu Dhabi Global Market is looking for public feedback and comments for its proposed FRSA Regulatory Laboratory. Read more: www.bankingtech.com

Nigeria launches its first FinTech Bank

The creation of SunTrust reflects a new path in FinTech sector; it’s expected that more startups would be created to drive financial inclusion in Nigeria. Read more: venturesafrica.com

MetLife joins R3 distributed ledger consortium

Insurance giant MetLife has joined the R3 partnership, a consortium of 60 of the world's largest financial institutions focused on designing and applying blockchain technologies. Read more: www.ibtimes.co.uk

Xiaomi Launches Its First Payment System 

Xiaomi is launching its first payment system on September 1st. The system is called Mi Payn and will join smartphone payment systems, like Android Pay and Apple Pay. Read more: www.pymnts.com

MIT FinTech report suggests the end of banking is near

MIT has published a report that claims legacy finance "will undoubtedly disappear" as decentralized financial technologies take over. Read more: bitcoinist.net

Financial firms plough money into IT

Over half (54%) of traditional financial services firms are planning to splash cash on their IT systems. Read more: www.cityam.com

Chinese peer-to-peer ‘basically’ a scam, says billionaire Guo

Billionaire Guo Guangchang called China’s peer-to-peer lending industry “basically a scam”. Read more: www.bloomberg.com

ANZ reveals new open tech strategy 

ANZ Banking Group has upped the ante in its adoption of cloud-based services in order to pursue a more flexible technology strategy. Read more: www.afr.com

Announcing AltAssets’ FinTech Investor Forum

FinTech’s disruption of some of the world’s most lucrative and long established industries means that more investors than ever are on the lookout for opportunities in the sector.

LoanTap grabs $3m to lend to professionals

LoanTap, a Mumbai-based online lender, has raised $3m in a Series A round. The capital comes from angel investors.
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