The world of embedded finance - by The NBG.
Embedded Finance is a concept that include payments, banking&cards and lending products.
#theneobankers#theneobankersgroup
⚡️⚡️⚡️ European Parliament Votes in Favor of Comprehensive Crypto Regulation: MiCA
The European Parliament has voted in favor of the comprehensive regulatory framework for the cryptocurrency industry, known as the Markets in Crypto-Assets (MiCA). Initially scheduled for a January review, lawmakers postponed the final examination of the rules to April due to technical issues, including difficulties in translating the nearly 400-page document into the EU's 24 official languages.
MiCA aims to simplify the authorization process for Cryptocurrency Service Providers (CASP) operating in the EU's single market, eliminating the need to navigate 27 different sets of national regulations. According to experts at Chainalysis, this will provide greater clarity for market participants.
However, local supervisory authorities will be responsible for monitoring crypto service providers. Only crypto companies with over 15 million annual active users will fall under the purview of the European Securities and Markets Authority.
The main provisions of the rules, including those related to stablecoins, will come into effect one year after their adoption. In the lead-up to the vote, EU lawmakers discussed the advantages and drawbacks of MiCA. One of the document's authors claimed that its approval would put the jurisdiction at the forefront of the digital asset economy and restore trust that was undermined by the collapse of FTX.
We're excited to share that The NeoBankers Group was part of the game-changing #ECOM'21 conference!
It brought together experts and business decision-makers from fintech and #eCommerce to talk about the future of these industries.
#theneobankersecom21#neobankers
Web3 is a #fundamentally new approach to corporate governance, #value generation, and stakeholder participation in addition to being a new basic #layer of the #internet.
Read more 👉
https://t.co/spak86EV0z
https://t.co/MxvTziJlV3
https://t.co/t44W0PswsK
#tumovs#web3#defi#NFTs
Did you know that ChatGPT is being used by companies worldwide?
Here are the percentage statistics of industries using ChatGPT in their business processes as of Jan 2023
#neobankersgroup#theneobankers#OpenAIChatGPT#ChainGPT#ai
The fintech landscape today
With these three major waves of fintech innovation as context, we visualized today’s fintech landscape into a #market map to help us better understand the current state of the market—as well as identify the biggest gaps for today’s founders to fill.
The infrastructure layer refers to traditional financial #institutions: large banks, #sponsor banks, #card #networks, #acquiring and issuing processors, credit #bureaus, and #Insurance carriers. (This is where we see the decades-old incumbents of the financial services industry.) This layer consists of the institutions that make money movement available and enable transactions to take place when you swipe your credit or debit card. Significant disruption at this layer is not expected, due to the regulatory nature of our industry.
The orchestration layer is where developer platforms wrap an API around traditional financial institutions to make powerful financial products and features available to companies at the application layer. Orchestration companies act as a go-between, so application layer players don’t need to spend time working directly with the legacy institutions at the infrastructure layer in order to offer their financial products.
Finally, the application layer includes anything end-user-facing. These are the apps individuals and companies use for daily financial transactions, from paying bills and doing their taxes to buying insurance and saving for retirement.
Companies included are illustrative and not exhaustive of players in the space.
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🤝 Dr. 𝐑𝐞𝐢𝐧𝐢𝐬 𝐓𝐔𝐌𝐎𝐕𝐒.
ORCID: 0000-0002-8946-2089
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#financialservices #bankingindustry #startups #businessmodels #digitalbanking #innovation #fintech #strategy #investment #payments #tech #openbanking #marketplace #challengerbank #wealthmanagement #finance #investments #business #web3 #defi #blockchain #digital #metaverse #smart #bank #banker #banking #payments #baas #banks
#Bank run in slow motion continues: Deposits at #USbanks fell sharply for a 2nd week. #Deposits at commercial banks dropped by $125.7bn in week ended Mar22, marking 9th-straight period of declines, highlighting preference for higher-yielding money-mkt funds. Source: #Bloomberg
More and more #banks are looking at how to change their #business model by adopting an open and adaptive #platform.
Are we on the road to #Banking as a Platform?
What do you think? Please share your insights in #comments.