Banks have historically developed their own solutions for the marketplace, using sophisticated information technology (IT) and development resources. “If they wanted something for the marketplace, they would create it” and would design, develop and support those solutions for their unique needs, DadeSystems President and CEO...
The relationship between FinTechs and banks has been complicated, with relatively young upstarts competing with established financial institutions in a new and growing world of digital payments and commerce. But, in fact, banks and FinTechs may make for the perfect marriage, as each works to...
With the fifth European Union (EU) Anti-Money Laundering Directive (AMLD 5) coming into force and raising a concern over the fourth AMLD, beneficial ownership is becoming front-and-center for financial firms. “This whole beneficial ownership aspect of a transaction is only becoming more and more important,” Global Data Consortium (GDC)...
FinTech startups are introducing new ways for users to sift through information that was once hard to find: Intrinio, for instance, is now letting users search through notes and disclosures included on the SEC filings of U.S. public companies with keywords. Through the feature, users...
Identity presents a challenge for consumers around the globe, according to FinTech experts at artificial intelligence (AI) biometric software companies. “There are about a billion people in the world who lack any kind of legal identity whatsoever,” Distilled Identity CEO David Shrier told PYMNTS in...
Payments can be very cyclical for clients of FinTech startups – they can be flooded Monday morning after a quiet Sunday. With that sudden rush of information, the startups need to rapidly adapt to handle that flow of information. “We need the ability to scale...
It’s a time of great transformation for payments in the eyes of FinTechs: “The payment market is changing rapidly with the adoption of electronic payments and soon-to-be real time payments,” DadeSystems Chief Marketing Officer Tom Berdan told PYMNTS.com in an interview. For receivables, Berdan noted that larger banks...
Before Rachel Carpenter co-founded FinTech startup Intrinio, she faced a challenge when it came to building an app for the finance industry: She couldn’t afford the data needed to run the program. That is, she needed to pull stock prices and all sorts of information...
Regulatory changes, particularly those in Europe, are making it an interesting time for companies to be in the forex and money exchange businesses. “They’re dealing with the need to comply with things like GDPR,” Global Data Consortium (GDC) Co-founder Charles Gaddy told PYMNTS in an...
