RegTech for Fintech May Be the Next “Big Thing” in the Bitcoin and Blockchain Space

Australia’s so-called “Big Four” banks will be closely monitored for any attempts to purchase Fintech or blockchain-based startups by the country’s competition regulator. The Australian Competition and Consumer Commission (ACCC) will scrutinize any dealings or attempts by Australia’s biggest banks to swallow Fintech companies developing technologies like blockchain solutions in the financial sector, revealed the body’s chairman Rod Sims. As has been the predominant narrative for well over a year now, the Fintech revolution is seen as the banking industry’s biggest disruptive threat.....

The Department for International Trade (DIT), the UK’s sole government department that negotiates to strike or extend trade agreements between the UK and non-EU states will send a Fintech delegation of 11 UK companies to Australasia. Aimed at promoting Fintech opportunities in the Fintech spaces in Australia and New Zealand, the trade mission will see a delegation of “eleven successful UK fintech companies” visit the countries in March. The 11 UK companies that form the delegation include credit rating specialist Aire; Fintech data analytics firm Clarus; asset allocation consultant....

RegTech enhances compliance for financial services institutions. This guide explains how blockchain works in banking to achieve this goal. What are the key areas where blockchain is adding value to the RegTech ecosystem?Financial regulators and service providers are looking for the best and most cost-effective solutions to help the banks and other financial institutions comply with the rules and do business in a compliant regulatory environment.As blockchain is already disrupting the conventional ways of doing businesses, thanks to its benefits in terms of enhanced transparency, faster....

The Wall Street Journal reports that Japan’s second-largest bank Sumitomo Mitsui Financial Group (SMFG) is eager to enter the fintech space. Japan has been playing catch-up with other nations who are quickly embracing the financial technology revolution. It was only recently that the Japanese government and regulators allowed the bitcoin exchanges to be registered. Until now, the government had been lackadaisical in foraying into the fintech space, which includes bitcoin and its technology blockchain. Speaking to WSJ, Koichi Miyata, President at the bank said that the group is keen to make....

Excelian, an award-winning tech consulting firm operated by multi-bln dollar software development company Luxoft, recently released its 2016 tech report entitled “Big Data: Technology Special,” featuring the most important and disruptive technologies such as Fintech and Blockchain. Blockchain is in the investigative phase. On a section entitled “Three Techs to Track,” the company listed three emerging technologies for businesses to understand and analyze. One of the three technologies was Blockchain, which the Excelian research team described as “the biggest tsunami of 2016.” The research....