In this weeks issue:
- No more dog and pony show
- Delphi of fintech
- The fourth “industrial” revolution
- The real cost of a data breach is personal
- Bo knows banking
- Face palm and 'money never sleeps pal'
- Virtual bags of cash?
- What, no Brexit?
- Happening March 24! Ya, It’s FFCON 2020, save the date
Stories of interest:
No more dog and pony show: Lex Sokolin talks about direct listings while comparing this to digital currencies. When legacy finance starts thinking out loud about dealing D2C, something is changing.
Delphi of fintech: Here the five big debates for fintech in 2020 are examined with their various pros and cons.
The fourth “industrial” revolution: A reminder that fintech needs all the same data tools that legacy finance does in the future financial system.
The real cost of a data breach: This story is a reminder of the true cost of data breaches and identity theft. Financial institutions experience some write offs and inconvenience. Innocent people on the other hand, have to live with real consequences.
Bo knows banking: In a move that shows us that banks are all either covert or overt tech companies, Natwest unveils Bo. Natwest is a subsidiary of RBS. Yes, RBS is the same bank that choked on an ABN Amro purchase in 2008 and needed a financial heimlich maneuver from the government.
Face palm: In the 5 stats to start the week, certain US consumers are concerned that data collection risks outweigh benefits. But they didn’t have a problem filling out the survey...or did they?
"Money never sleeps pal": The financial services landscape is evolving forever and pools of capital are fortifying innovative sectors of interest from wealth management to infrastructure to lending. Of interest just this week, Portage closes another, and Novacap PE stakes claim.
Regulation:
Virtual bags of cash?: Fintrac has updated its AML requirements with ways to uncover corporate ownership. Virtual currency exchange MSB registration rules coming into effect June 1, 2020. Registration now open
What, no Brexit?: Apparently there is still some serious business getting done outside of elections and Brexit votes. The UK Jurisdiction Taskforce put out a statement on cryptocurrencies and smart contracts and their interpretation under English law. The upshot? “Digital currencies can be treated as property in principle, and that smart contracts are capable of satisfying the requirements of contracts in English law, making them enforceable by the Courts.”
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