Displaying items by tag: fintech

A slew of new technological advancements are coming to Financial services and portfolio management software in 2022. The biggest changes will be modernizing networks, edge computing, and decentralized infrastructure like Web3. This means a lot of financial technology will begin moving to the cloud. In addition, actual payment transactions will take place on the technological device and not through a central network, which improves efficiency and processing speed. This doesn’t come at a big cost either as it’s a more robust and safer technology for payments solutions. Finally, in a decentralized financial industry, anyone can turn their personal capital into collateral and extract yield others can borrow from eliminating financial middlemen.

Finsum: These are wild changes in decentralized finance but undoubtedly a couple of years off, however cloud computing is a game-changer for portfolio management software.

Teradata, a leader in cloud computing made some big predictions for the Financial world in 2022. The biggest change is more AI adoption and software development in banking. Branches have closed in Europe and America and supplementing this with AI will be key. They also anticipate widespread adoption of the cloud in banking, but this could come with systemic risks as this is a new frontier for a small number of firms and failure could be catastrophic. Finally, regulators are going to take a step up in 2022 when it comes to ESG. These changes will mean more data analytics and statistics. Banks and companies will work independently to provide emissions data that can satisfy regulators as to their ESG status.

FINSUM: The cloud brings great efficiency for portfolio software moving forward; a one-stop-shop for lots of metrics and management tools!

MetaCap has acquired a MCAP technology company in an equity exclusive transaction. MCAP is a fintech software development company that hosts a suite of software and e-market making services that offer liquidity solutions to institutional investors. Metacap sees the acquisition as part of their growth in client facing businesses and sector expansion. They can leverage the new acquisition by expanding what they can offer customers and grow their clientele. Revenue and EBITA growth has been a key point of success for MTEC and that as a one two punch they can be even stronger with the merger moving forward.

FINSUM: This is yet another dip into digital portfolio construction via buyout or merger, and a sign of how quickly fintech is moving the frontier in the financial industry.

(Bangkok)

Southeast Asia is bursting on to the Fintech scene with a host of new companies. Ascend Money, is one of Thailand’s darlings and just became the country’s newest unicorn. Ascend found early funding from Jack Ma’s Ant Group Co. and Charlene Pokphand Group, and just secured $1.5 billion in its latest round of funding. Ascend plans to use the funding to improve its mobile wallet app TrueMoney. They view this latest funding as a testament to the positive ecosystem in Thailand for start ups and financial technology companies. Still Ascend’s $14 billion operation that spans Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam, faces competition from established financial firms in the region like Siam Commercial Bank Plc and other financial start ups.

FINSUM: This story is a reflection of the bourgeoning Fintech industry in the South East Asia region, no doubt the leader in emerging markets for new technology companies.

President Joe Biden is expected to nominate Professor Saule Omarova for the office of the Comptroller of the Currency, one of the leadership positions in banking oversight and regulation. Omarova is currently teaching at Cornell University Law School and is a critic of the role fintech is playing in the current financial system, all the way from cryptocurrency to robo-advising. Additionally, she believes regulation should be tightened across the board in banking, calling for a larger role in government supervision. She has also advocated for restructuring the Fed and having them provide consumer bank accounts. This is only the beginning of the journey as both fintech and the banking sector will lobby hard to make sure she doesn’t get confirmed for her position.

FINSUM: This would be a drastic leadership change in regulation compared to the relatively hands-off approach fintech has benefited from so far. The suggested changes to the Fed would pump shockwaves through the financial system.