Financial innovation has brought a new trend to the modern financial system and its importance has been widely recognized.
Nout Wellink also said that revised standards need to keep pace with
financial innovation in the banking system.
As well as taking the top prize in the IFS
Financial Innovation Awards, HSBC won two individual categories -best internet banking service, for its Business Internet Banking service, and most innovative e-delivery channel, for HSBC DriverQuote, which enables fleet managers and company car drivers to get quotes and order vehicles online.
Abstract: This paper reviews the extant empirical studies of
financial innovation. Adopting broad criteria, the authors found just two dozen studies, over half of which (fourteen) had been conducted since 2000.
In August 2018, the DFSA, in collaboration with 11 other financial regulators and associated organisations from around the world, established a Global
Financial Innovation Network (GFIN) which will seek to conduct joint policy work, share experiences of
financial innovation, and enable cross border testing of innovative financial services.
Pintec Technology inked a strategic partnership agreement with Bank of Ganzhou in Jiangxi Province for cooperation in
financial innovation and services, including fintech research and development, intelligent asset allocation and e-commerce.
Today the Global
Financial Innovation Network (GFiN) published a report highlighting the efforts of the international community of regulators, including the Dubai Financial Services Authority (DFSA), in driving global FinTech innovation and cross-border testing of innovative ideas.
Financial innovation is already enticing deep-pocketed investors to fund solar projects around the world, from the sunniest deserts to the poorest villages.
The agencies are to collaborate to provide
financial innovation and also work together on joint research projects.
'They wanted a focused platform where the interests of valuers could be adequately addressed considering among others, the challenges and opportunities being brought about by globalisation, the fourth industrial revolution and
financial innovation in our liberal market economy, issues of poor regulation of the profession which threatened its viability,' revealed Mr Mengwe.
Bahrain's banking and financial services regulator said the move was a part of the Global
Financial Innovation Network (GFIN).
