Fintech

FinTech: Australian Legislators Pass Law to Enhance ASIC’s Fintech Regulatory Sandbox

Australian Legislators Pass Law to Enhance ASIC’s Fintech Regulatory Sandbox. The amendments passed on Monday extend the scope and timeframe fintechs can spend on the existing ‘sandbox.’ The ‘Treasury Laws Amendment (2018 Measures No. 2) Bill 2019‘ allows more businesses such as fintechs to test a wider range of new financial and credit products and services without a licence from ASIC for up to 24 months.

Community Banking: Reich & Tang Reaches Deal with Smiley Technologies

Fintech firm Reich & Tang has reached a deal with Smiley Technologies, a developer and provider of core banking solutions to U.S community banks.

Community banks typically struggle to keep up with their larger competitors on high technology solutions. Smiley Technologies has worked with smaller banks to modernize and streamline core banking applications and services. These services help improve the efficiency of data management.