Fintech Daily Briefing

Fintech Daily Information Briefing on [December 01, 2021]

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The following is the Fintech Daily Information Briefing on [December 01, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. The European regulation on the supervision of commercial crowdfunding service providers (ECSP) was officially implemented

On November 10, 2020, the European regulation on commercial crowdfunding service providers (ECSP) came into force. After a 12-month transition period, the rules have been officially implemented on November 10, 2021. They are applicable to the whole EU region and are part of the European Commission’s financial technology action plan. The regulations have formulated unified regulatory rules for investment and lending crowdfunding within the EU, which not only improves the scale of innovative financing, but also provides more protection for crowdfunding platform investors.

[2]. South Korea has launched the mydata financial data service pilot since December 1

On November 30, 2021, the Korea Financial Services Commission (FSC) announced that it would carry out the mydata financial data service pilot from 16:00 on December 1. It is reported that 17 institutions participating in the pilot (including banks, financial investment institutions and bank card companies) have completed the closed test. From the end of 2021 to the second half of 2022, it is expected that 46 institutions will join the plan, covering many fields such as large science and technology enterprises, financial science and technology innovation enterprises, insurance companies and credit investigation institutions. All along, FSC has been making active efforts to effectively protect data privacy while optimizing personal financial data access management. To this end, FSC has successively launched measures to expand the scope of mydata data data types, simplify personal authentication process, and strengthen consumer protection. FSC expressed the hope that relevant institutions will pay close attention to and solve possible problems during the trial operation stage, and prepare for the full start-up of mydata service on January 1, 2022.

[3]. India’s online payment platform simpl completed round B financing of USD 40 million

Recently, India’s online payment platform simpl announced the completion of round B financing of US $40 million. This round of financing is jointly led by the new investor Valar ventures and its existing investor ia ventures, with the participation of the venture capital Department of LFH investment group. Simpl was founded in 2015 to build a mutual trust financial trading platform based on intelligent algorithms, provide users with online payment, order management and other services, ensure account security, and improve user information according to transaction records, so as to improve user transaction limits.

[4]. David Marcus, head of Facebook’s encryption business, will leave at the end of the year

On November 30, David Marcus, head of encryption business of meta (formerly Facebook), announced that he would leave the company at the end of the year and Stephane Kasriel would replace him as head of Novi financial products. It is reported that after two years as president of PayPal, Marcus joined meta in August 2014 and was initially responsible for the company’s messenger service. In May 2018, he left messenger and founded Facebook’s financial projects department. The Department announced the cryptocurrency projects Libra and Calibra digital wallets in June 2019.

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