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Open Banking and the Ambiguous Competitive Effects of Data Portability

Open Banking and the Ambiguous Competitive Effects of Data Portability

In recent years several interventions have been undertaken to encourage competition by promoting access to data and facilitating data sharing and portability. The banking...
Tech

SoFi Signs $22.3M Acquisition Deal For Golden Pacific Bank

FinTech startup Social Finance (SoFi) is acquiring Golden Pacific Bancorp, a community bank in Sacramento, California, for US$22.3 million. “We believe that by pursuing a...
Big Tech

Chinese Regulators & Ant Group Agree On FinTech Overhaul

Chinese regulators, along with Jack Ma and his Ant Group, have reached an agreement that would turn the financial technology company (FinTech) into a...
Walmart

Walmart Joins With Startup Ribbit Capital

US retail chain Walmart announced on Monday, January 11, it has entered a strategic partnership with investment firm Ribbit Capital to create a new...
Big Tech

China Calls On Big Tech To Review Their Fintech Compliance

Chinese regulators are again cracking down on internet platforms looking to offer fintech services, in a bid to curb monopolistic practices and enhance competition,...

China Works On Limits On Bank, FinTech Partnerships 

Chinese officials may limit the number of financial institutions to which any single FinTech platform may connect, Reuters reported, citing coverage by state media. The...
Data

Australia Considers Competition Implications For Consumer Data Right Law

An Australian senate probe into FinTechs headed up by the government will look into how much Big Tech firms might harness the consumer data...
Mastercard

DOJ OKs Mastercard’s Finicity Deal

On Monday, November 16, Mastercard announced that the US Department of Justice has allowed it to move forward with its US$825 million deal to...
Tencent

Tencent Agrees To Comply With Chinese Regulators

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten...
Tech

China Considering Tougher Fintech Antitrust Laws: FT

A senior official at China’s banking regulator has warned that technological advances in the financial industry risk creating monopolies, a day after Beijing unveiled...
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