Tag: Banking

Israeli Cryptocurrency Traders Locked Out of Banking System: Report

After being unable to deposit profits, Israeli cryptocurrency traders are looking for answers from banks and regulators. Still unfamiliar with the technology, some $86 million in unpaid taxes on cryptocurrency trade earnings have piled up as banks refuse to touch deposits writes Israeli media Haaretz. “The tax authority is aware of the problem, but they say

Don’t Wall Off Innovative Tech Firms from Banking

Washington politicians may disagree on what to do at the U.S. border, but when it comes to technology firms entering banking, it seems many from both parties want to build a wall. Ironically, this virtual barrier would primarily keep out not foreign financial firms, but American non-bank innovators with new financial products that could greatly

Banking on breast milk

On 4 April, Shilpa Bharadwaj was admitted to a government hospital in Sanagneri Gate, Jaipur, as soon as she experienced the first twinge of labour pain. Later that day, she delivered a healthy boy. Twelve hours later, she died of complications. Her family, wracked with grief, had to turn its attention to the more pressing

Grasshopper’s Judith Erwin leaps into innovation banking

In the years following the financial crisis, de novo bank activity in the US slowed to a trickle. But as memories fade, the economy expands and the potential of tech-powered financial services marches forward, entrepreneurs have once again been asking the question, “Should I start a bank?” And by bank, I’m not referring to a neobank, which sits

Colt And SIA Win Ten-Year ECB Banking Settlement Networking Deal

European Central Bank deal will help cut financial settlement costs across the European banking sector, promise the two partners. Banking IT provider SIA and Colt Technology Services have won a tender from the European Central Bank to supply connectivity services allowing banks to connect directly to Eurosystem market infrastructures through a single access interface (the

Americans Need A ‘Fitbit’ Of Banking

OBSERVATIONS FROM THE FINTECH SNARK TANK In a recent survey, the Financial Health Network asked financial services executives about their organizations’ most important strategic priorities. The second most-frequently mentioned priority–cited by seven in 10 banks and credit unions–was “improving customer financial health.” I’m not buying it. The Data Doesn’t Add Up If seven in 10 financial institutions are focused

11 Indians Get Swiss Notices In Process To Share Banking Details

NEW DELHI/BERNE:  As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen

RBI asks shadow banking companies to appoint risk officers

India’s central bank said on May 16 that shadow banks with asset size of more than 50 billion rupees should appoint a chief risk officer in a move to tighten regulation after a series of defaults at top lender Infrastructure Leasing & Financial Services’ (IL&FS). The government took control of IL&FS last year after its default