Banks Need to Collaborate with Bitcoin and Fintech Developers
It will take time until banks come around to the idea of embracing Bitcoin or Fintech, though. Banks need to innovate at an accelerated pace, yet are unable to do so on their own. Allowing third-party developers to work together with the bank through API access would be a significant step in the right direction, as there is valuable input to be gathered from the Bitcoin and Fintech industries. Banks and other established financial players have not taken a liking to Fintech and digital currency just yet, as they see both industries as major competitors to their offerings. While it is....
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In a new report, Santander InnoVentures, the megabank's venture capital fund, argues that banks and fintech startups need to collaborate in order to "reboot" the global financial services industry and trigger the 'Fintech 2.0' revolution. Unlike the first generation of fintech pioneers that are limited to relatively simple propositions such as digital wallets and peer-to-peer lending, 'Fintech 2.0' will deliver fundamental changes to the infrastructure and processes at the core of the financial services industry, according to a new report from Santander InnoVenture, co-authored with Oliver....
A recent study by Frost & Sullivan shows that the Fintech market in Australia is a force to be reckoned with. These days, there is a lot of debate on whether or not banks should collaborate with Fintech and Bitcoin players to bring more innovation to the financial sector. Resisting this seemingly inevitable shift will cost several billion AUD in revenues for Australian banks, according to a recent report. Very few people are aware of how the Australian Banking sector is subject to substantial regulation, which was drafted to prevent monopolies and collapses. Although there are four....
The missions of programmable money and autonomous finance overlap, so it's surprising people from crypto and fintech don't collaborate more.
The Indian banks are increasingly collaborating with fintech startups in the country to develop banking solutions. India decided to do away with over 80 percent of its currency in circulation overnight. The move, almost brought the country’s economic machinery to a grinding halt as people flocked to the banks and post offices to exchange their old high-value banknotes for new ones. As experts debate about its potential impact on the country’s economy, Indian banking institutions have decided to upgrade their operations and infrastructure to match present day requirements. According to a....
The center will aid and accommodate Singapore’s blockchain startups and entrepreneurs to collaborate with the city-state’s reputable and well established institutions in the finance and trade industries. IBM, International Business Machines Corporation, (NYSE:IBM) has established its first Centre for Blockchain Innovation in Singapore with the assistance from the city-state’s Economic Development Board and Monetary Authority. The center will aid and accommodate Singapore’s blockchain startups and entrepreneurs to collaborate with the city-state’s reputable and well established institutions....