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International Quotes of the Week: Bill Morneau, Minister of Finance for Canada, commenting on the Ca
 
September 30 · Issue #109 · View online
Brainfood
International Quotes of the Week:

Bill Morneau, Minister of Finance for Canada, commenting on the Canadian government’s recently established Advisory Committee on Open Banking: “As technology continues to drive change in the financial sector, we must ensure that the needs of consumers—for more affordable and convenient services—are considered alongside the needs of the financial institutions that serve them.”

Norman Chan, chief executive, HKMA, commenting on the launch of Hong Kong’s Faster Payments Scheme: “The FPS is a unique platform as it supports instant payments in the HKD and the RMB with the use of mobile phone numbers, email addresses or QR codes, and achieves full connectivity among banks and SVF accounts. It makes retail fund transfers and payments much quicker and easier. The launch of the FPS signifies the payment system, which forms the core part of the Hong Kong’s financial infrastructure, will enter into a new era.”

Microsoft announced, with Adobe and SAP, the launch of a new Open Data Initiative ‘to unlock the true potential of all customer data’ for brands. Bill McDermott, CEO of SAP, and Shantanu Narayen, CEO of Adobe, commented:
“I really believe this is a seminal moment in the information technology industry,” said McDermott. “We want to actually lower the cost of your data… as this data continues to explode, you have every right to want it to be a lower cost operation. These platforms have to work together - and that breaks down the silos.”
“Our belief is that every single enterprise has to meet the mandates of their consumers, which require all interactions to be digital, to be personalised, to be relevant,” added Narayen. “I think this is where the three of us can do some magic with respect to unlocking the data that was previously in silos.”


Motive Podcasts
Last week we spoke to Matthew Blake (Senior Director, Head of Financial and Monetary System Initiative at the World Economic Forum) and this Wednesday we hear from David Bartlett (CEO, Financial Services at UK Govt. Department for International Trade)
The Future of Finance by Motive Labs on Apple Podcasts
The Future of Finance by Motive Labs on Android
Upcoming Industry Events
Financial Services
JPMorgan blockchain project recruits 70+ banks
Stripe raises $245m at $20bn valuation
Goldman invests in blockchain-based cross-border payments startup Veem
SocGen buys FinTech startup Treezor
Alibaba Partners with Banking Circle for Futureproof Payments
Barclays launches European digital corporate banking platform
Old Mutual to unbundle its majority stake in Nedbank
ANZ turns to Google Cloud for better data analytics
John Hancock life insurance policies to track fitness data
Dubai Chamber to Head Working Group on SME Banking Challenges
FinTech
Hong Kong faster payment platform goes live
Microsoft CEO Satya Nadella Unveils New Digital Strategy For Businesses: 'Tech Intensity'
Ecosystems the way of the FinTech future
Revolut shares financials for 2017 as it preps for aggressive expansion: £12.8 million in revenue, £14.8 million loss
FinTech Investors Balk at Funding Circle's Top IPO Price
Ex-UBS Bankers Raise $104 Million for New Swiss Crypto Bank
Dubai and Japan ink FinTech cooperation deal
Forget Chocolate, Cheese And Watches: FinTech Could Be Switzerland's Hottest Industry
Insider threat: The human element of cyberrisk
Banking on the blockchain with Bitwala and Celsius
Transforming to the Digital Age Country of Smiles – Battleground of Titans
Circle launches stablecoin
Regulation
Canada sets up Committee on Open Banking
Why are tech giants lobbying Congress for data privacy regulations?
PSD2: SIA launches “Open Banking” platform to develop new digital payment services for banks, Fintechs, corporates and public sector
Tesco Bank facing £30m fine over cyber breach
Danish watchdog could face EU inquiry over Danske Bank scandal
UK lawmakers call for regulation of “Wild West” crypto industry
New regulations may be needed to address APP fraud
PSD2 and Open Banking Biometric Authentication Market 2018: Global Industry Analysis, Research Prediction, Study And Supply Demand Report Forecast 2025
Key Hires
Powered by JBM Consulting - a leading financial services & technology focused boutique search firm
Peter Hetherington Steps Down as IG Group CEO
Avaloq Hires Credit Suisse Banker
LSEG Names Marshall Bailey as Chairman of Clearing House LCH Group
UBS Appoints Two Co-Presidents to Head Up Investment Bank
Banco Santander appoints UBS's Orcel as new CEO
Monex Inc Reshuffles Organizational Structure, Announces New Hires
First Commonwealth CEO to Serve on Community Bank Advisory Board of the Federal Reserve
Swift recruits Google engineer for new data analytics role
Makor Expands Scope in Switzerland, Hires Sebastien Crouzet
M&A Activity
Funding Transactions
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