After much debate, Europe’s new securitisation regulatory framework will come into effect fully on January 1 2019. In particular, the new framework aims to promote the issuance of simple, transparent and standardised securitisations that are easy to evaluate and monitor by investors and regulators alike.
Here are three simple steps to address the widespread misconduct revealed in the interim report of the banking royal commission, arising out of research by Associate Professor Jeannie Paterson. While not exhaustive, they are good places to start:
APIs will revolutionise the efficiency and speed at which payments are made by giving FinTechs easier and cleaner access to user accounts, with real-time updates and the ability to process transactions.
Open banking will enable financial institutions to launch easy, fast and innovative global payment methods. It aims to boost competition in payment methods, which has been in need of a modernisation in the digital era.
Fintech firms, which are essentially disruptive digital finance models, can help lower barriers to entry in financial services. They are also reducing transaction costs, addressing issues of information asymmetry, empowering consumers and facilitating international linkages. All these contribute to the regulatory goals of efficiency and fairness.
In 2016-17, Afterpay generated about A$23 million in fees from retailers and another A$6.1 million in late fees. It wrote off only A$3.3 million in bad debt.
SnapCheck provides an innovating digital checking platform delivered by APIs/web services to its clients and partners. Like paper checks, the only information needed is the payee's name and an amount. The platform allows a partner to send, receive, and deposit payments; and get an unparalleled level of status information compared to any other payments platform today.
Finding a way to navigate through the cracks and ultimately create the space to grow is the challenge for most companies. Levvel, levels the playing field by taking advantage of its agility, and the ability to focus on solving customer problems more directly.
To keep their position of financial caretaker in a multi-pronged ecosystem, banks are increasingly focusing on digitizing core business processes and reviewing organizational structures and culture.
Power Ledger is a movement to help retailers manage their supply and demand, allowing everyday consumers to contribute to solving the price spikes and demand shortages that bedevil the industry.
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