1. Traditional Banks Unlikely to Fall Victim to Fintech Revolution in APAC

    Traditional Banks Unlikely to Fall Victim to Fintech Revolution in APAC

    Traditional Banks Unlikely to Fall Victim to Fintech Revolution in APAC Wednesday, 13 September 2017 () Consumer Protection Paramount as Regulators Mull how to Foster Innovation while Regulating Digital Disruption: Whitepaper ATLANTA, HONG KONG and SHANGHAI, Sept. 13, 2017 /PRNewswire/ -- The emergence of Asia-Pacific as a global leader in fintech (financial technology) can be linked to banks restricting lending during the 2008 financial crisis, however conventional banks are unlikely to fall victim to tech interlopers, according to a new whitepaper from LexisNexis Risk Solutions. *Chris Foye, Manager, Financial Crime Compliance, LexisNexis Risk Solutions*, said: "When the 2008 financial crisis hit ...

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      Discourse, Entailment, Machine Translation, NER, Parsing, Segmentation, Semantic, Sentiment, Summarization, WSD
  2. Quotes

    1. When the 2008 financial crisis hit and some banks started to restrict lending, small businesses were impacted along with other segments of society. This unmet market need coincided with changing customer expectations, including customers increasingly using digital channels, thus reducing the need for
    2. Concern is occurring within the industry that this rapid pace of innovation could come at the cost of consumer protection. Moreover, some fintech companies are not adhering to the same regulatory/compliance standard of traditional banks.
    3. This concept is beneficial in several ways. Sandboxes can reduce time to market, provide greater choice to consumers and ensure consumer protection is factored in. It also allows fintech companies to gain a better understanding of what is expected of them in terms of regulation and compliance.
    4. Many financial institutions are taking this a step further through collaboration.
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