Banks have been caught napping while fintech firms revolutionize the financial sector. Customers can open an account, apply for loans and make payments via their smartphone. Now banks are turning to the newcomers for help.
The European Union has unveiled plans to make customer authentication securer. It will soon no longer be enough to just provide a password or credit card number when making an online payment.
Cryptocurrencies have grabbed a lot of attention in recent days as the value of bitcoin skyrocketed to hit record highs and Venezuela announced plans to create a digital currency called "petro."
After Thursday's massive hike in Bitcoin's value, the cryptocurrency fell 15 percent on Friday on profit-taking. The volatility has been put down to a decision by US regulators to allow Bitcoin trade on major exchanges.
Bitcoin’s dramatic gains have continued this week but it remains prone to wild fluctuations in value. The French central bank has entered the fray — they say it is not a currency and has no economic basis.
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