Fintech News: May 27th, 2016

Messaging startup Symphony will release its first iPhone app next week (Re/Code)

sym_web_ga_24_emphasizewhatmatters_pillarSymphony, the secure messaging app backed by Goldman Sachs and other large financial institutions, is releasing its first mobile app for the iPhone. While it has been nicknamed a “bloomberg killer,” the company identifies itself as more of an “email killer.” Time will tell.

The DAO Might Be Groundbreaking, But Is It Legal? (American Banker)

AB052016DAOThe Decentralized Autonomous Organization or DAO, an automated, leaderless company, has raised over $150 million in funding. It promises to transform the way companies are governed and financed, by automating the work of managers and leaders. The one catch: it might not be legal, as the “tokens” it distributes to its employees may be regulated under securities laws, as they closely resemble equities.

 

The Retail Forex Industry is Far Behind in IP Adoption (Finance Magnates)

logo-transSome of the most popular platforms for retail trading are falling behind by not upgrading from IPv4 to IPv6. In plain terms, the internet has grown too large for IPv4 addressing, and IPv6 offers superior network security and end-to-end connectivity. It’s not just trading platforms though; overall, financial services is far behind the rest of the internet in upgrading to IPv6 capabilities.

Time for Fintech to Stop Thinking Small (American Banker)

Calling most fintech innovations small and meaningless, this blogger calls for a fintech industry think tank of behavioral scientists, economists, policymakers, marketers, and industry veterans to identify the largest problems in financial services today. This type of knowledge would cut out the hoards of fintechs that are, as other thought leaders have called them, lipstick on a pig, and uncover new large problems for startups to solve.

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