Electronic Money Institution vs. Payment InstitutionBack in 2020, The European Commission aimed to improve the way payment processing is handled in Europe. They introduced two directives (legal acts): one about Electronic money and the other about Payment Services. These directives, or ‘rules,’ changed electronic payment competition, especially with the rise of online shopping and digital money. In this post, you’ll discover what Electronic …
What is Marqeta? Everything You Wanted to Know About Marqeta Inc.So many talks have been recently heard about Marqeta Inc. and what it exactly does, and that’s already happening a decade after its appearance in the finance industry and the market. So, we’ve decided to develop a condensed version of the company’s origin, services, pricing, clients, values, and plans. All of this is gathered below for you to get this topic straight and have no questions anymore. …
ISO 20022: Transforming the Financial Industry with Standardized MessagingThe adoption of ISO 20022 brings to mind the tale of the Tower of Babel, but with a twist — instead of confusion, it’s about creating a unified language. No matter how brilliant your idea, years of effort can go to waste if your team communicates in different languages, just like people in Babel. However, imagine a scenario where everyone communicates in the same language and understands …
How To Execute IT Modernization In Banking: Guide for BusinessesIn the tech side of banking, a big issue is that many old-school banks still use outdated computer systems from the ’70s and ’80s. Conversely, new and smaller companies with super-efficient tech are becoming their tough competition. This happens because many big players are stuck using old systems from decades ago, causing a major problem in the banking tech industry. The solution to …
New Fintech Regulations in the UKAre you starting your own fintech business in the UK but getting tangled in the web of ever-changing rules and regulations? It’s always a dark forest for everyone who wants to step into this field, and I’m here to guide you through it. As a CEO with over 15 years of experience and a fintech expert who helped launch over 20 fintech products, I will try to gain your trust and demonstrate that …
Catching Up With Financial Regulation: Regtech Solutions for BanksOver the past several years, banks and financial institutions (FIs) all over the world have either partnered with or launched their own fintech companies to be applied to various business areas. Such an approach has already improved the lives of millions by promoting financial inclusion and integrating digital services into the everyday routine. Meanwhile, most solutions used to focus on …
Nine CFOs and the Digital ImperativesEven before the covid-19 pandemic started, I was convincing businesses to adapt their digitization strategies. Companies focused on the future continue to develop and invest in their own destiny despite the economic downturn and have a much better chance of surviving and thriving. Those who cut costs and curl up into a fetal position are doomed to fail. It’s time to “prove …
Fintech Regulation: Guide to Financial Regulation for Fintech Entrepreneurs in the USThe fintech regulation in the US is extremely complex. While the United States does not currently have a “fintech-specific” regulatory framework in place, the activities of fintech businesses will very certainly come within the jurisdiction of many regulators, requiring registration with and compliance with at least one of those agencies. The situation is made more difficult by the …
Ways to Secure Funding for a Fintech StartupNowadays, there are a plethora of options on how to launch a fintech startup and supply it not only with a starting capital but also long-term financial support. Getting six-figure funding for a worthy project is a goal descended from the seventh heaven to a more down-to-earth realm. Now you don’t need to work with your head in the clouds anymore! The recipe is relatively simple. Let a good …
Regulatory Standards for Fintechs: The US vs Europe ComparisonRegulations are still a terrible nightmare for the fintech industry. Why so? First, because of its natural barriers put to the banking businesses: you’ve got to do a lot of work to comply with all the prescribed standards. Second, the geo distinction matters seriously; thus, the legislation differences should be thoroughly accounted for at the initial stage not to complicate the further …
The Rise of PPaaS: Preparing for the Next Wave of Fintech DisruptionThe financial services industry is continuously undergoing dramatic changes in response to regulatory updates, emerging technologies, and operating models. The boom of banking-as-a-service, with its innovative approach to delivering banking products, is a case in point. The PaaS (payment as a service) fintech platform providers enable their partners — which may include insurers, fintech, telecoms, …
All You Need to Know About California Consumer Privacy Act 2020Before the 1st of January 2020, many world-wide businesses had started to update their digital assets to become compliant with a California Consumer Privacy Act that recently has taken effect and amended the California Civil Code. Application users are snowed under email and mobile app notifications with Privacy Policy updates. For the last few years, all countries have started to pay additional …
