Big tech’s emerging market finance push brings rewards and risk

LONDON: A push by big technology firms into financial services in developing countries will improve access to them, but might also make traditional lenders more vulnerable, the Financial Stability Board (FSB) said.

The expansion in emerging markets has generally been more rapid and broad-based than that in advanced economies, the FSB, which coordinates financial regulation for the Group of 20 Economies (G20), said in the report released on Monday.

Lower levels of access to traditional banking and financial services developing economies had created demand for services now offered by big tech firms, the report found, particularly among low-income populations and in rural areas.

An increasing availability of mobile phones and internet access supported this trend, the FSB said.

“However the expansion of BigTech activity also gives rise to risks and vulnerabilities,” it said, pointing to lower financial literacy and firms using other data gathered.

“Competition from BigTech firms may, in

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Big tech’s emerging market finance push brings rewards and risk, FSB says

LONDON, Oct 12 (Reuters) – A push by big technology firms into financial services in developing countries will improve access to them, but might also make traditional lenders more vulnerable, the Financial Stability Board (FSB) said.

The expansion in emerging markets has generally been more rapid and broad-based than that in advanced economies, the FSB, which coordinates financial regulation for the Group of 20 Economies (G20), said in the report released on Monday.

Lower levels of access to traditional banking and financial services developing economies had created demand for services now offered by big tech firms, the report found, particularly among low-income populations and in rural areas.

An increasing availability of mobile phones and internet access supported this trend, the FSB said.

“However the expansion of BigTech activity also gives rise to risks and vulnerabilities,” it said, pointing to lower financial literacy and firms using other data gathered.

“Competition from

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Horizon Technology Finance Provides Third Quarter 2020 Portfolio Update

– Originates $16.0 Million of New Loans –

– Positive Liquidity Events of $45 Million Demonstrate Earnings Strength of Portfolio –

FARMINGTON, Conn., Oct. 7, 2020 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon,” “We,” “Our” or the “Company”), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today provided its portfolio update for the third quarter ended September 30, 2020.

“We successfully originated $16 million of loans, including to two new portfolio companies, despite the protracted economic and health challenges,” said Gerald A. Michaud, President of Horizon. “We remain committed to taking a selective investment approach by investing in companies that offer advanced and unique technological capabilities, have ample liquidity, and experienced and strong management and investors. In addition, $43 million of prepayment

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Korean Millionaire Investing in Decentralized Finance with the desire to build the future of Cryptocurrencies trading

New York, October 6, 2020 (INSIDER MONKEY WIRE)– Fintech is becoming a fast-growing industry in the world today. The term is an amalgamation of the words “Finance” and “Technology” and it is associated with any business that uses technology to enhance or automate financial services and processes. As an industry, Fintech is becoming increasingly beneficial to both businesses and consumers.

In recent years, blockchain have enabled major strides in the financial technology (fintech) industry. Blockchain offers faster, cheaper transactions which are more secure and have permanent records. Blockchain also has the potential to dramatically reshape the capital markets industry with a significant impact on business models, reductions in risk and savings of cost and capital.

While AI technologies are helping financial institutions to save billions in costs incurred in service costs and also have streamlined the data analysis process. Blockchain is lowering the cost of transactions while allowing for a

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Embedded finance expected to blur fintech lines by 2030

  • Fintechs expect embedded finance to be a dominant trend by 2030, with big techs leading the charge.
  • This would open partnership and customer acquisition opportunities for fintechs.
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.

The fintech industry expects financial services to increasingly be embedded into nonfinancial platforms over the next decade, so much so that fintech will no longer be a distinct sector, per a press release seen by Insider Intelligence.

Fintechs' view on big tech firms offering financial services

Fintechs expect embedded finance to be a dominant trend by 2030.

Business Insider Intelligence


“Embedded finance” is a term for nonfinancial firms directly offering financial products and services to their customers while retaining complete control over the customer experience. The findings are based on the study “Fintech 2030: The Industry View,” by payments provider Tribe Payments, which surveyed 125 fintech executives.

Respondents

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Finance Pros Say WFH Boosts Productivity

Almost two-thirds of financial services professionals have increased their productivity while working from home during the coronavirus crisis.

A new report from lobby group Humans in Finance found that 63% of survey respondents were more productive working remotely, with 18% experiencing a decline. Some 70% said their work-life balance had improved, while 58% reported improved health and wellbeing.

The survey – Remote Working in Finance: COVID-19 & Beyond – quizzed more than 600 finance professionals in over 80 locations across 6 continents. In addition to the above findings, it reveals that:

  • only 3% want to work entirely from the office post-COVID
  • 95% believe employers should offer a range of remote / in-office workplace options
  • 80% are excited by the prospect of working from any location they choose
  • 83% believe remote working could reduce carbon emissions / improve the environment
  • 75% say firms will struggle to attract and retain
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Here are the top finance stories of the day for September 28

Big news to keep an eye on this week is Palantir, the secretive technology firm, making its appearance on the public markets. The startup is expected to hold its direct listing on September 30 and aiming for a $22 billion valuation, according to The Wall Street Journal. 

If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco


An empty a restaurant is seen at the mall, following the outbreak of the coronavirus disease (COVID-19), after shopping malls and bazaars reopened in Tehran, Iran, April 20, 2020.

An empty a restaurant is seen at the mall, following the outbreak of the coronavirus disease (COVID-19), after shopping malls and bazaars reopened in Tehran, Iran, April 20, 2020.

WANA (West Asia News Agency)/Ali Khara via REUTERS


Brookfield Property Partners, which manages mall and retail properties around the world, held its investor-day presentation on Thursday. Alex Nicoll has

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