A Bitcoin for your thoughts?
By Naomi Christopher, Midwinter Financial Services, Senior Manager – Brand Those of us in the tech world can all agree that Bitcoin is genuinely starting to take off or at least cause a stir…. If by take-off you mean clamber $672 bucks one day and slide down $384 the next. But while some of us look on with wide eyed enthusiasm as the price of it continues to climb and fall and then climb and fall (but mostly climb at the moment!), much of the rest of the world continues to scratch their heads as they grapple to understand “what’s it all about?” And of course, whether it is in […]
Hong Kong Stock Exchange to launch Blockchain-powered market in 2018
The Hong Kong Stock Exchange (HKEX) is planning to launch a blockchain-powered private market aimed at helping smaller firms obtain financing. HKEX chief executive Charles Li detailed the plan, which would play out through a separate venture dubbed HKEX Private Market, in an August 1 note. The disclosure came in response to a question about tapping local technology resources – and whether Hong Kong is positioned to do so. Though no firm launch date has been disclosed, Li said that the platform would kick off sometime in 2018. “The Private Market will serve as a ‘nursery’ for early stage companies before they are ready to enter public markets,” he explained. “They can […]
Bank of America files for 3 new Blockchain patents
Three new patent applications reveal that the Bank of America has been working on using distributed ledger technology (DLT) to validate the veracity of information – and those who handle it. First filed in February 2016, the details of the three applications were made available to the public last week by the U.S. Patent and Trademark Office. One case cites a process for using a blockchain to track and validate user identification. For example, the document details how a distributed database system would be able to update a new user’s identification information, and subsequently store and timestamp additional details as time progresses. Data such as “signatures, physical attributes, or locations of the user are identified,” the […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
Asian fintech hubs are pushing full steam ahead
Rising fintech hubs across APAC, including Hong Kong and Singapore, have been garnering attention with their efforts to promote the industry and encourage innovation within financial services (FS) more broadly. This week, these growing hubs demonstrated their continued efforts to establish themselves as innovation leaders. Hong Kong launched a fintech association. The FinTech Association of Hong Kong (FTAHK), an independent members’ association for FS players including fintechs, incumbents, academics, government departments, investors, and accelerators, launchedon Tuesday. It’s made up of committees focused on specific areas including blockchain technology, AI, big data, regtech, insurtech, financial literacy, and digital banking, among others. Leaders of each committee will educate FTAHK members on their […]
Japan casts a wider net with its latest fintech initiatives
Japan’s fintech efforts have largely focused on blockchain technology and cryptocurrencies, but now the country seems to be taking a broader approach toward the industry, as two new developments last week indicate: Japan and Australia signed a fintech cooperation agreement. The Japan Financial Services Agency (JFSA) and the Australian Securities and Investments Commission (ASIC) signed a collaboration agreement to enable the agencies to refer promising fintechs to each other, as well as share information regarding fintech innovation, regulatory changes, and economic developments more easily. Australia has been active in supporting a wide range of fintech segments recently, so it’s likely Japan hopes to gain a more holistic overview of the […]
Credit Suisse develops Robo Advisor
Digital development is gathering pace at Credit Suisse under the guidance of Anke Bridge. Switzerland’s second-largest bank is working on a service that will be based on advice provided by robots. It wasn’t just the sheer size which kept UBS and Credit Suisse (CS) apart, but also their respective approach to innovation – with UBS seen clearly ahead of its cross-town rival. Under the leadership of Anke Bridge, appointed as CS head of digital solutions in December 2016, CS is catching up. Bridge told Le Temps newspaper that CS was a very innovative bank, but agreed that the company should become more active in communicating its current projects. CS Invest […]
Japan lender Mizuho to launch fintech venture
Japan’s Mizuho Financial Group will start a venture next month to create new businesses using “fintech,” an executive said, joining a global race in financial technology that threatens to unsettle traditional players. Japan’s second-largest lender by assets said there were already 20 projects in the pipeline for the venture, utilizing blockchain technology and artificial intelligence programs in areas such as farming and travel. Daisuke Yamada, Mizuho’s chief digital innovation officer, said the challenges were cultural as well as technological, as truly new business models required a break from Japanese banks’ conservative, overly risk-averse attitudes. For that reason, he said the bank would limit its stake in the yet-to-be named venture […]
