Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. Powell said the Fed prefers to call crypto coins “crypto assets,” because their volatility undermines their ability […]
FinTech
Singapore-based OCBC Bank announced on Thursday that they have enabled facial biometric verification on several of their ATMs across the country, eliminating the need to carry ATM cards, which can be skimmed or stolen. According to the bank, the first transaction which can be performed using face verification on OCBC Bank ATMs is account balance […]
Not so long ago, Bitcoin had been the talk of the town within the tech circle, mainly due to the level of complexity in understanding its inner workings by the common consumer-base. Currently, however, Bitcoin has ignited a frenzy among anyone looking to make extra money on the side by either investing or mining the […]
The world is becoming more and more digital as time passes, with finance services championing this transformation, especially with the increasing demand of contactless digital payments swooping in, as the global Covid-19 pandemic magnifies our need for them. Many central banks around the world are looking to create their own digital currencies (CBDC) to spearhead […]
Imagine yourself as a bank executive, competing against a global, multi-service, low-cost, digital bank; customers checking their accounts via smartphones, paying bills or transferring money with a swipe of finger. An AI-powered engine allows them to play around with their ETF portfolios with absolutely no fees, or cross-border payments. Take a moment to consider facing […]
The COVID-19 pandemic has made us more inclined toward digital payments, shying away from the exchange of hard currency due to our newfound hygiene awareness; it is here that contactless payments have quickly become the new norm. In Europe, Germans are increasingly ditching cash for hygiene reasons, according to Initiative Deutsche Zahlungssysteme e.V, a payment […]
An open database of information is highly relevant for enterprises to get an idea of people’s needs and preferences which will give companies a chance to improve the quality of their products and services and help cultivate new ones. The Joint Credit Information Center (JCIC) in Taiwan is planning to establish a database for local […]
As the Covid-19 pandemic wreaked havoc on businesses, countries, and global economies alike, bringing projects, funding, conferences, and travel to a screeching halt, the tech industry prospered and skyrocketed upwards. Digitization filled the air with everything from education, grocery shopping to remote working from home. The financial services industry, although under extreme pressure to meet […]
Fintech is one of the key elements in shaping the financial industry in sub-Saharan Africa with new technologies emerging and developed in order to facilitate the financial sector, and to break and change the competitive landscape. This financial method is enabling new forms of technology to challenge the traditional structures by improving financial inclusion and […]
The global computational arms race has augmented the technologies far and wide, bolstering their capabilities, and opening up a plethora of possibilities for companies across industries. FinTech is no exception to this, specifically when narrowing our focus toward artificial intelligence (AI). Global AI in the Fintech market was estimated at USD 6.67 billion in 2019 […]