Defy’s Post

🏁 The Importance of Building a #CircularFinancialIdentity In today's digital age, financial transactions have become increasingly complex, with various intermediaries and third-party institutions. While these institutions play a crucial role in facilitating financial services, they often lack a holistic view of an individual's financial life, leading to potential biases and exclusion. This is where the concept of a Circular Financial Identity (#CFI) comes into play, offering a #selfsovereign and comprehensive approach to managing one's financial identity. Built on #Cardano protocol, Defy's CFI infrastructure allows users to selectively share personal and financial information with financial institutions, helping the latter to paint a more accurate and inclusive picture of an individual's financial capabilities and #creditworthiness. In other words, Defy's CFI infrastructure facilitates the development of new financial products and services tailored to individual needs and preferences, and fosters #RealFi #innovation within the financial sector. Cardano Foundation  │ Universal ID Council  │ WIN - World Identity Network #DiD #SelfSovereignIdentity #FinancialInclusion #Defiant4Good

With the CFPB moving to finalize in 2024 its rules affirming US consumers’ right to their personal financial data, Open Banking is top of mind for many in the financial services industry. Join me, Nikhil Joseph, Lou Grilli and Nicholas Zeman at the Financial Data Exchange Summit in DC next week as we discuss what these changes mean for regional banks and credit unions. #FDXGlobalSummit #FDXAPI

Day 1@Innovate Finance #IFGS2024 started with inspiring keynotes on the next decade of #fintech innovation and growth in the UK! 📣 Day 2 - Tomorrow Tuesday 16 April will include more discussions on the future of Open Banking & Payments, Data, Innovation and Security, Digital Identity & ubiquity, and the role, evolution & benefits of regulation in Fintech success 🏆 No mention of the UK DPDI bill yet, currently going through committee stage in the House of Lords. Is it like waiting for Godot given that the UK GE is looming? Yet, the provisions on the new Smart Data schemes in the bill are a key piece of the future open data economy, beyond open banking! 🤝 #DPDI #Smartdata #Digitalidentity

The CFPB proposed a new rule related to digital transactions made to friends and family. The rule is open for comments until January 8. #CFPB #digitaltransactions #fintech

Join us at #HPCAI2024 and hear from legendary banking execs on #HPC FSI trends, technologies, and future directions. Register here: https://ow.ly/bM4J50SGOBp. #FinTech

Federal Reserve Board requests comment on proposal to expand the operating days of the Federal Reserve Banks’ two large-value payments services, Fedwire Funds Service and the National Settlement Service, to include weekends and holidays Currently, both the Fedwire® Funds Service and the National Settlement Service, or NSS, operate Monday through Friday, excluding holidays. Under the proposal, both services would operate every day of the year. The operating hours each day would remain the same, with the Fedwire Funds Service open 22 hours per day, and NSS open 21.5 hours per day. Use of the expanded operating days by service participants, such as banks and credit unions, would be voluntary. The Fedwire Funds Service is a wholesale payment service that allows service participants to send and receive individual electronic funds transfers up to $10 billion. The NSS is a settlement service for participants in private-sector clearing arrangements, such as check clearinghouses, a private-sector automated clearinghouse network, and securities settlement systems. https://lnkd.in/gMkxXv8J. #payments #banking #us

✨Throwback Thursday✨ From clay pots to digital bytes: Remember when saving meant breaking a clay mound? 👀 💰 Today, we tap, swipe, and save in seconds. Bank78 has made digital saving seamless and convenient. How times have changed! . . . #Bank78 #EveryWayMoneyMoves #DigitalBanking #ThrowbackSavings #DigitalTransformation

Finzly Among the First to Receive Fed Certification for Fedwire ISO 20022 “This achievement underscores Finzly’s commitment to industry leadership in terms of speed-to-market of forward-thinking solutions,” said Booshan Rengachari, Finzly founder and CEO. “We provide a comprehensive solution that not only ensures compliance with evolving regulatory requirements but also unlocks the full spectrum of benefits associated with the ISO 20022 standard.” https://lnkd.in/eMraXBeB #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Deliberating the Now of Fed(Now)! https://lnkd.in/gptYYkBp   #backspacetech #udm #fintechsaas #blog #payments #fednow #instantpayments #rtgs #unitedstates

Our Latest Opine! Tokenized deposits enable near instantaneous and frictionless transfers and exchanges on distributed ledger technology without the delays and errors that can occur in traditional financial systems. Read the post here: https://lnkd.in/gZKJdhcn Special thanks to Bo Berg, Kevin Barr #fasterpayments #instantpayments #digitalassets #tokenizeddeposits