Fintech News Issue #256 February 20th, 2020

Credit card giant Visa has granted its principal membership to a cryptocurrency company for the first time.

The explosion of fintech startups in the last decade has transformed predictions that they would be disruptors to now, partners in banking — a critical element to the next evolution in financial services in the 2020s.

According to one of its top executives, Goldman’s stated aim is to become a “leading digital consumer bank.”

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CoinDesk columnist Nic Carter is a partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge, Mass. He is also the cofounder of Coin Metrics, a blockchain analytics startup.

If you are going to securitize bank loans, you will need a bank. You don’t need to be a bank, but you will need a bank to make the loans and assign them to you for securitization.

The European Commission today unveiled a sweeping set of proposals that it hopes will establish the region as a leader in artificial intelligence by focusing on trust and transparency.

The road to success in the complex U.S. market is a tough one for fintech challenger banks.

Level, a digital banking startup based in San Francisco Calif., is trying to hook customers with a 2.1% savings account annual percentage yield.

Banks are at risk of losing their strong position in the development of national digital identity schemes to Big Tech giants and other globally networked firms, according to a report from industry association Mobey Forum.

Fintech, a term typically describing the small financial start-ups competing with established financial institutions, is increasingly playing a role in our business and private lives, making use of analytics, mobile platforms, digital technology and more

Since the Lunar New Year holiday, 87 businesses have received more than $200 million in loans through a cross-border, pilot blockchain finance platform, Xuan Changneng, vice director of the State Administration of Foreign Exchange, disclosed at a press conference on Saturday.

Setting realistic expectations and using the same quality control measures that employees must follow can ensure success when you apply AI to financial data and processes.