Tag Archives: fintech

Fintech Guidance from Federal Reserve

fintechIn early January, because of the strong interest in this emerging market, the Federal Reserve published a special fintech edition of “Consumer Compliance Outlook.” This issue includes the following articles and features:

  • Perspectives on Fintech: A Conversation with Gov. Lael Brainard
  • Fintech: Balancing the Promise and Risks of Innovation
  • Fintech for the Consumer Market: An Overview
  • Fintech Resources: Laws, Regulations and Supervisory Guidance

Survey: Consumers want fintech services but loyal to own banks

Credit Card With Gold Chip

A survey conducted by CGI shows consumer apprehension regarding a shift from traditional financial institutions to fintech services. Some of the survey’s key findings show that consumers show a lack of trust of fintech services, particularly with products that rank high in complexity. A majority of consumers also show a preference for receiving new digital services from their primary banking provider. The survey found that banks and fintechs will eventually move beyond competing with each other and create partnerships that will allow each to offer consumers a stronger product. This is due to the fact that consumers want the new digital services offered by fintechs, but they want them to come from a source they trust. Click here to learn more