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Tag Archives: Marketplaces

Ozon launches card for customers

Internet company Ozon has announced the launch of its own card. The MasterCard World PayPass card serves as a payment instrument as well as gives users access to a loyalty program that includes cashback (in the form of points) for purchases made anywhere in the world. The card is linked …

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Is Big Tech the Future of Banking?

With a lower-than-ever-before barrier to entry, bigtechs are starting to see the financial sector as a highly-profitable way to expand their businesses and give consumers even more. In fact, there is evidence that bigtech Amazon is even considering offering a checking account service to consumers. This should be setting off …

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BFC takes part in E-commerce and FinTech Hackathon 2019

BFC experts took part in E-Commerce and FinTech Hackathon 2019, which was held June 14-16, 2019 in Bishkek, Kyrgyzstan. During the event, participants were given 54 hours to turn their ideas about e-commerce development and cross-border trade into working projects. Evaluation of the projects as well as technical assistance was …

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Russian insurers, intermediaries discuss API integration

The Digital Tools for the Development of Insurance Product Partner Sales roundtable was held in Moscow, a first-ever discussion between insurance companies, intermediaries and IT experts in the country. The roundtable was held to discuss how API integration could be leveraged to: increase the speed of consumer integration into insurance …

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PAYMO developing Uzbek financial marketplace

PAYMO has announced that it is developing a system to unite providers and consumers of financial services in one information space as part of an effort to provide consumers with a range of financial services in a faster, more efficient manner. The new financial marketplace will offer the following financial …

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Video: the dark web

Beneath the surface of the internet exists a largely hidden world – the dark web. Find out what the dark web is and what goes on there in this short video. Video: a cautionary tale of cyber privacy Cyber-attacks underscore need for better cybersecurity measures Video: factoring

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How should financial institutions react to uberization?

The volume of information in the world is increasing exponentially, and it is becoming difficult for consumers to analyze it all. For this reason, they are turning to mediator platforms to help them sort through it. For example, to find a hotel, consumers do not visit each hotel’s site individually, …

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How FinTech is uberizing banking

There are three main banking services people routinely use: payments for products/services (i.e. transfers from one account to another), lending (i.e. borrowing funds from a bank for a specific purpose and/or daily needs) and investments (i.e. using excess funds to earn returns). Traditionally, financial institutions have fulfilled these services; however, …

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UK regulator proposes new rules on crowdfunding

The United Kingdom (UK)’s Financial Conduct Authority (FCA) has unveiled some new proposed measures following a post-implementation review of its crowdfunding rules. The FCA says it has observed “some poor practice by some firms in the crowdfunding sector, particularly among loan-based platforms”. Based on its findings, the FCA is now …

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Online marketplace for financial services to open in Russia

We live in a world where startups are emerging everywhere thanks to the idea of aggregated information. For example, to buy a car, you no longer have to go from dealership to dealership. Instead, simply enter an online site like auto.ru. Or go to the popular Yandex.Market for any number …

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Alfa-Bank launches new international marketplace platform

Alfa-Bank has launched Alfa Network, a Russian-language marketplace platform, in Russia, Kazakhstan and Belarus. Alfa Network allows users to post and find offers for trade transactions, buy and sell assets (including real estate), attract investments and make investments. Alfa-Bank also offers users a number of additional services, such as consultation …

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Video: the ‘bank as a platform’ approach

Find out how adopting the ‘bank as a platform’ approach will help banks shift to a model of service offerings and achieve greater and more sustainable economic value. CIS Conference: Sales and cost efficiency growth, 21–22 September, Kyiv Infographic: fostering a learning culture in 2019 How FinTech is helping the …

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The trouble with marketplace lending today

The marketplace lending industry, which is less peer-to-peer these days and relies more on packaging and selling bonds to fund its business, seems to be taking a page from recent troubled banking history. It appears to be ratings shopping, which was widely credited for exacerbating the housing credit boom that …

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Amazon partners with Bank of America for lend-tech leap

Amazon is partnering with Bank of America as part of an effort to expand its lend-tech program for small businesses that sell on Amazon. Amazon Lending is an invitation-only program that makes loans for firms that find it difficult getting traditional business loans. Loans are made of between USD 1,000 …

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Infographic: alternative lending timeline

As alternative lending matures into what many are calling “alternative lending 2.0″, it is worth taking a look back at the sector’s evolution since 2005 — from Zopa pioneering peer-to-peer (P2P) lending in 2005 to venture-backed alternative lenders OnDeck Capital and Lending Club going public in late 2014. Video: 3 …

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Amazon plans to launch its own banking service

Amazon, the world’s largest online retailer, has created special accounts as part of a new banking service. This new service, however, does not imply that Amazon intends to launch its own full-fledged bank; rather, the new service will allow users to pay for online purchases and replenish their accounts without …

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Bank of Russia to pilot new financial ecosystem

The Bank of Russia presented a concept for a new financial ecosystem at the Finopolis forum in autumn 2017 and is ready to begin testing it in the second half of April 2018. Within the new system, market platforms will connect participants through open APIs. In essence, the ecosystem will …

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WeChat owner receives investment fund license

The Shenzhen representative office of the China Securities Regulatory Commission has issued Tencent a mutual investment fund license, opening the door for the WeChat messenger owner to sell shares directly to customers on its own platform or via the online financial management platform qian.qq.com. The license will also give the …

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