With the line between banks and fintechs growing ever blurrier, financial services supervisors ought to consider adjusting regulation to fit the kinds of activity an institution is engaged in, writes James Hilton, of Ludwig Advisors.Jakub Jirsak/jirsak – stock.adobe.com In the corporate world, banks occupy a unique niche. They are hybrid entities — unlike most corporations
Just how many self-regulatory organisations (SROs) are too many? Last week, the Reserve Bank of India (RBI) capped the number of such entities for non-banking financial companies (NBFCs) at “a maximum of two”. And to ensure the smaller NBFCs get a fair voice, it said an SRO shall have at least 10 per cent of
PortSwigger, a distinguished leader in the cybersecurity realm, has successfully secured a substantial $112m investment from Brighton Park Capital. This landmark funding is poised to fuel innovation and scale operations globally, marking PortSwigger’s inaugural external financial backing since its inception in 2008 by Dafydd Stuttard, also known affectionately as “Chief Swig.” The investment will predominantly
A collaboration between rent-reporting platform Esusu and a leading trade group has helped bring in more than 15,000 new mortgage originations over its first year in operation, representatives say. Efforts to incorporate new rent underwriting criteria contributed to a total of 15,302 home loans totaling $6.9 billion, data from the New York-based financial technology platform
Judge approves $4.5 billion settlement between Do Kwon, Terraform Labs, and the U.S. Securities and Exchange Commission. Binance previously settled with the U.S. in November for $4.3 billion. Recent spate of criminal convictions and fines mark resolution for multiple bad actors who helped upend crypto sector in 2022. South Korean authorities are seeking the arrest
Has the FinTech industry hit bottom after years of skyrocketing investments? That seemed to be the sentiment among some executives and investors at the Money20/20 event in Amsterdam earlier this month, CNBC reported Thursday (June 13). Among them was Iana Dimitrova, CEO of embedded finance startup OpenPayd, who told CNBC that the market has “recalibrated.”
TOKYO, JAPAN – Tokyo has been one of the cities vying to become a financial center of Asia, but the … [+] results of its efforts have been underwhelming. (Photo by Adam Pretty/Getty Images) Getty Images Not so long ago, when Hong Kong was struggling with the impact of civil unrest and strict Covid-19 controls,
Euclid Program Managers, a leading provider in the insurance and reinsurance sectors, has announced the launch of a Managing General Underwriter (MGU) underwriting mortgage credit risk on behalf of insurers and reinsurers. The offering, known as Euclid Mortgage, is being established to fill a market void by providing immediate and scalable access to the highly
NASSAU, the Bahamas, June 10, 2024 (GLOBE NEWSWIRE) — OKX, a leading crypto exchange and Web3 technology company, has issued updates for June 10, 2024. OKX Announces Launch of Fixed Simple Earn and VIP Loan OKX today announced the launch of its ‘Fixed Simple Earn’ and ‘VIP Loan’ products. Fixed Simple Earn is OKX’s lending
A start-up is trying to catch the artificial intelligence (AI) surge to bring financial services to the underbanked population in developing markets. Meet Surfin-Meta, a Singapore-based fintech company that is making waves – and money – with its inclusive vision of financial empowerment. The firm, with services spanning lending, credit cards, payment remittance and wealth