IMF Warns To Take Cryptocurrency Seriously
IMF Managing Director, Christine Lagarde has urged international banks and financial regulators to start giving cryptocurrencies serious consideration.
It’s only been a generation that we’ve been able to change our TV channels without getting up from our recliners. Wireless remote-control devices have changed our entertainment habits, but new Matchpoint technology is set to shift those habits again.
Following Visa, MasterCard has announced guidelines which would suspend all cryptocurrency debit cards which fall outside of the European Economic Area (EEA).
According to reports by Reuters and the Financial Times, banks in both Poland and the Netherlands are currently under investigation by the EU for potential antitrust violations. On the morning of October 3rd, officials from the Brussels office conducted unannounced checks of the banking association headquarters in both countries. These checks come as preliminary notices of the commission’s intent to enforce the newest EU regulations on the retail banking sector, due to come into full effect in 2018.
In an era of financial convergence, HPC is the mainstay of faster analytics and quick decisions. Growing regulatory demands also call for speedier insights in trading, risk management, and customer care. Greater operational agility to respond faster to market changes is often the game-changer in Fintech and Regtech, saving billions and ensuring timely regulatory compliance.
A major development in the ever growing insurance and technology industry – known as InsurTech – is in the realm of sensory data analytics. Technology is improving such that a greater and more accurate range of data can be collected with regard to activities that are typically insured – the main and most obvious of these is obviously driving but more increasingly it is being expanded to day-to-day activities which are of interest to health and life insurance firms.
While the FinTech credit market in most jurisdictions currently makes up less than 5% of the countries’ new credit applications, the market has expanded rapidly and considerably over the last few years. Between 2013 and 2015 alone, the credit market more than quadrupled in most European and North American jurisdictions. In China, it expanded by a multiple of nearly twenty. In short, the market potential for legitimate and reliable FinTech credit providers is increasing.