{"id":9257,"date":"2018-04-06T06:58:39","date_gmt":"2018-04-06T06:58:39","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=9257"},"modified":"2018-08-14T13:54:33","modified_gmt":"2018-08-14T13:54:33","slug":"banking-regulations-not-suitable-for-small-online-lenders-using-fintech-solutions","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/banking-regulations-not-suitable-for-small-online-lenders-using-fintech-solutions\/","title":{"rendered":"Banking regulations not suitable for small online lenders using FinTech solutions"},"content":{"rendered":"<p>In Kazakhstan, the rigid regulations of financial companies now also apply to online lending companies, leaving many to wonder if FinTech companies can thrive (or even survive) under such conditions. To meet regulatory requirements, banks in Kazakhstan have large staffs, something difficult for small companies and antithetical to the idea of efficiency that is associated with FinTech innovations. Because there is a lack of clarity surrounding these small online lenders (the bulk of the Kazakh FinTech market at the moment), regulators need to act quickly to either liberalize regulations or create temporary stays allowing the businesses to move forward until the state can act to create conditions and clearly-defined rules going forward. If Kazakhstan fails to act soon, it could risk losing many businesses and the capital associated with them.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-9257 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor 23th \u2013 30th October'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-23th-30th-october\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/10\/7c9c1b75-7cad-453f-a215-69858af52b231-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15482\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15482'>\n\t\t\t\tBFC FinTech Monitor 23th \u2013 30th October\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Russia creates state agency to combat cyber threats'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/russia-creates-state-agency-to-combat-cyber-threats\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/russia-creates-state-agency-to-combat-cyber-threats-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-11167\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11167'>\n\t\t\t\tRussia creates state agency to combat cyber threats\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Digital signature requirements a real headache for small Kyrgyz businesses'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/digital-signature-requirements-a-real-headache-for-small-kyrgyz-businesses\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/07\/digital-signature-requirements-a-real-headache-for-small-kyrgyz-businesses-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13271\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13271'>\n\t\t\t\tDigital signature requirements a real headache for small Kyrgyz businesses\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In Kazakhstan, the rigid regulations of financial companies now also apply to online lending companies, leaving many to wonder if FinTech companies can thrive (or even survive) under such conditions. To meet regulatory requirements, banks in Kazakhstan have large staffs, something difficult for small companies and antithetical to the idea of efficiency that is associated &hellip;<\/p>\n","protected":false},"author":5,"featured_media":9259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,76],"tags":[129,75,335],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9257"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=9257"}],"version-history":[{"count":4,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9257\/revisions"}],"predecessor-version":[{"id":9434,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9257\/revisions\/9434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/9259"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=9257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=9257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=9257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}