Maintaining Trust: Lessons for FinTech

Maintaining Trust: Lessons for FinTech

One of the main drivers behind the boom in FinTech has been the lack of trust in traditional financial services. The level of distrust in these sectors varies across countries and regions, but it is a global feeling. Most recently this was illustrated in the Edelman Trust Barometer 2015 report. Based on the responses of over 33,000 people across 27 countries, it is the most comprehensive study on the concept currently available. Here’s what we learnt.

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Philippines: The E-Money Platform

In its presentation, The E-money Platform: Opportunities for Digital Payments, the Philippines central bank Bangko Sentral Ng Pilipna (BSP) outlines its plans for e-money (FinTech). BSP aims to improve financial inclusion increasing “effective access to a wide range of financial services” to all Filipinos. BSP has four main areas of focus: savings, credit, payment and insurance for the “unbanked” population.

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Philippines: E-Money – FinTech!

Philippines: E-Money – FinTech!

We often hear about the great financial inclusion in East Africa occurring as a result of the take-up in m-payments. This is true, thanks to firms like M-Pesa and BitPesa. However, less stated is the quiet gathering storm in the Philippines which was introduced to m-payments and FinTech long before anywhere else. Here we take a look at the four factors responsible for the growth in FinTech in the Philippines.

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FinTech Innovation Plans (South Korea)

Though not as well connected as the other Far Eastern financial city-hubs like Hong Kong, Singapore or with the economic power of China or Japan; however, it’ll be wrong to presume South Korea is not making an effort. Instead the country has recognised that it is lagging behind and needs to make big changes to get ahead of its competitors.

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Report: Data Sharing and Open Data for Banks (UK)

Commissioned by HM  Government  in conjunction with Fingleton  Associates , The Data Sharing and Open Data for Banks was created to assess how competition and consumer experiences will be affected were banks to allow their consumers to freely share their transaction data to third parts using external Application Programming Interfaces (APIs).  Read more

Smart Contracts: People Development (UK)

Smart Contracts: People Development (UK)

There are a lot of routine decisions made within HR, simple transactions which require time, but in themselves are not particularly value generating. Could a mechanism designed to execute certain actions, when an effect occurs or fails to occur be the answer? If so, that answer could be in the form of SMART CONTRACTS.

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Fintech South Korea – Getting there… slowly

For a high tech industrial economy, South Korea’s standing in the world of fintech isn’t very secure. Crowded with mobile and PC users—the national stronghold of Samsung—and blessed by robust wireless infrastructure, analysis from institutions like MasterCard Worldwide grades South Korea’s mobile payments readiness less than satisfactory, although financial services and regulations are mature. Here we focus on why that is and what the government is doing to get it ahead.

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China: Data Security

China is home to some of the largest internet companies in the world and these companies are rivaling some of the tech titans in the United States and elsewhere. The big three internet giants in China are Baidu, Alibaba and Tencent. Though these companies are competitors, there is a certain natural amount of cooperation between them in the fields of data mining and security. It is these three companies and the relationship between them that will move this issue forward in China.

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