Fintech is taking the world by storm, and investors are starting to notice. While 2016 was dubbed what some might say as “challenging” for the fintech market, overall investment in fintech totalled $24.7 billion, according to KPMG. That figure is impressive enough on its own, but it pales in comparison to the $46.7 billion invested in 2015. As KPMG suggests, 2016 was a “challenging year for fintech investment,” with thanks to the Brexit vote and circumstances surrounding that outcome. The US presidential election was also a contributing factor, while there was also a slight slowdown in China.
Hong Kong maintained its hold on the top of the rankings as the world most competitive economy once again, the annual rankings compiled by the IMD World Competitiveness Center in Switzerland shows. Switzerland and Singapore came in second and third, while the United States ranked fourth, its lowest position in five years and down from third last year.
Apple's rumored Siri smart speaker, which is designed to compete with the Google Home and Amazon Echo, is already in production ahead of a prospective debut at the upcoming Worldwide Developers Conference, reports Bloomberg. Citing sources "familiar with the matter," Bloomberg says production has already started on the speaker, but it is not expected to be ready to ship until later in the year. Still, Apple could introduce the speaker at WWDC, which kicks off next Monday.
Announced as a ‘world premiere’, the new legislative project will soon reach the Parliament and its main purpose is to stop the psychopaths who were convicted from leaving the Australian territory. The measure will lead to the cancellation of 20.000 passports belonging to individuals who have served their sentence for pedophilia but are still in the forefront of some judicial services.
Switzerland's economy expanded at a slightly faster pace in the first quarter, data from the State Secretariat for Economic Affairs showed Thursday. Quarter-on-quarter real growth of 0.3 percent surpassed the upwardly revised 0.2 percent in the fourth quarter but lagged the 0.4 percent expansion expected on average in a Reuters poll of five economists. In the same period GDP performance recorded a 0.5 per cent expansion in the eurozone, 0.6 per cent in Germany and 0.2 per cent in the UK.
A measure reflecting the trends in the Swiss economy rose modestly in April, suggesting average private consumption growth, results of a survey by the UBS investment bank showed Wednesday. The UBS consumption indicator rose to 1.48 points in April from 1.44 in March, which was revised from 1.50.
"The purpose of SFI was to build up finance expertise in Switzerland. The approach was to boost the strength of the Swiss banking and finance academia. Since 2006 SFI has built up one of the largest and most successful finance faculties worldwide. "
Robo-advice is less popular than financial advisers, friends or even the internet, according to research published today (31 May). Despite an increased focus on using computer programmes and automation in financial decision-making, most consumers do not feel comfortable with this new technology.
Donald Trump aims to overhaul the financial services system's regulation in order to simplify lending process for banks. In your opinion, is this intention reasonable? Why? That is obviously not a simple question to answer for the reason that a reform of the financial regulatory system in terms of changing the Dodd-Frank needs to be done, but I do not think an overhaul is indeed necessary. What needs to happen is the implementation of some sort of regulations for small to mid-size banks, while regulations for large banks make sense for the most part. A few larger banks here and there need to be reviewed, but the simple fact is that by requiring significantly greater capital, the system is much more stable than it had been and it has been able to withstand the shock and not get into the kind of problems it faced ten years ago. When we talk about reforming the regulatory system, it needs to be done with an eye towards small and mid-size banks, not large banks. Unfortunately, the focus of attention is on larger banks, because they have more money in the government.
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