Amazon Launches its Financial Services Competency for FinTech Startups
Amazon Web Services (AWS) is ramping up efforts to help FinTech startups by launching its own Financial Services Competency, recognizing technology companies that work in the financial sector, according to a report by Business Insider. Any Amazon partner company is welcome to apply to the competency, which will see the applicant put through a series of stages before being awarded with a certificate. It is this certificate that will give a FinTech startup the confidence to say that they are as good as any consultancy such as the Accenture Innovation Lab. At a recent re:Invent conference in....
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A new report from PwC claims that 83 percent of financial services companies believe specific aspects of their businesses are at risk to various fintech startups, with the number of worried management-level professionals reaching 95 percent in the banking sector. The PwC report is based on a survey of 544 CEOs, heads of innovation, chief information officers, and top management personnel in financial services companies from 46 countries around the world. While traditional financial services companies believe fintech startups could take hold of 23 percent of their business, the fintech....
Amazon Web Services (AWS), the cloud computing business operated by Web commerce giant Amazon, is partnering with investment firm Digital Currency Group (DCG) to offer a blockchain experimentation environment for enterprises. In collaboration with the startups in the DCG portfolio, AWS will provide dedicated cloud infrastructure and technical support for those projects. The startups, along with DCG, will collaborate with enterprise businesses looking to explore and test different blockchain applications. Scott Mullins, head of worldwide financial services business development for AWS, said....
UBS has shown particular interest in fintech developments, creating an innovations lab to explore potential applications of bitcoin and the blockchain technology. Just recently, the company announced the launch of the Future of Finance Challenge, which is a competition open to fintech entrepreneurs and bitcoin startups. UBS is a Swiss global financial services company based in Zurich. It provides investment banking, asset management and wealth management services for private, corporate, and institutional clients worldwide and operates in more than 50 countries with about 60,000 employees....
We live in an era where not adopting consumer needs in the financial sector may lead to significant losses for the industry. The Korean government has unveiled its plans to support the development and growth of startups in the country. To be more precise, they will support venture capital for Fintech and blockchain startups in Korea going forward. Korea Embraces Financial Innovation. Up until this point, the Korean government and regulators had remained fairly tight-lipped regarding the future of Fintech in their country. Given the growing interest in this industry, it is not a complete....
A leading Indian bank, Yes Bank has announced the launch of its new Yes Fintech accelerator for startups working on blockchain and financial technology space. Yes Bank, a progressive Indian bank has partnered with leading names in the country’s startup ecosystem to launch a fintech and business accelerator. The accelerator program, Yes Fintech is powered by T-Hub startup engine, Anthill Ventures, and LetsTalkPayments. The 15-week program is distributed among two facilities, one in Mumbai and another in Hyderabad. Designed for banking and fintech startups, the key focus areas of the program....