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NEWS Focus on FinTech, Trump urged
inancial Innovation Now, a coalition of tech companies including Google, Amazon, Apple and PayPal, has called on President-Elect Trump to appoint a Treasury Undersecretary for Technology, responsible for developing a national vision and coordinated strategy to ensure America wins the FinTech race.
F
In a letter to Trump, FIN notes that the real estate tycoon and former reality TV star campaigned on a promise to bring change to Washington. “Your business experience, unique for any incoming President in history, offers a rare leadership opportunity that we believe sets the stage for modernising some of our most antiquated financial rules,” it states. “We are optimistic that you and your administration are well positioned to make America great at innovating in financial services and growing these jobs here at home.”
Among its recommendations are the appointment of Neat calls for early app testers
Neat is moving into beta 1.0 stage. The venture, co- founded by David Rosa, formerly Head of Credit Trading, Asia Pacific at Citi, is targeting Millennials with a mobile current account, smart budgeting and savings app and prepaid Mastercard, using facial recognition technology to authenticate customers. It is bringing together
H ong Kong-based mobile banking startup
Rosa’s artificial intelligence startup Variably and the technology behind payments venture TofuPay, which it bought. Neat will be compatible with Apple Pay and Android Pay.
A message posted on Facebook invites users to a series of events being held throughout December: “Do you want to be the first to get Neat? Give your feedback and help create an awesome product? For our beta 1.0 we are inviting 150 people to test our app and we’d love you to be part of it. We’d like to get to know all of our early testers and welcome you at one of our Neat beta events. We will tell you all about Neat and get you signed up. You will also have an opportunity to meet the team, make new friends and network with fellow tech enthusiasts over a drink and a bite,” it says.
Scott Thompson
financial regulators who “value technology’s potential”, leveraging mobile tech to increase financial inclusion and promoting open, interoperable standards for card payment security. The Treasury Undersecretary for Technology would, it says, work across all federal financial regulators “to foster competition and innovation in an antiquated banking sector to better serve consumers and the economy.”
Scott Thompson
www.ibsintelligence.com © IBS Intelligence 2017
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