https://nicholasg3.github.io/fintech/ Payment rails, bank–fintech partnerships, stablecoins and licensing, and who carries the risk. en-us https://nicholasg3.github.io/fintech/posts/embedded-finance-who-owns-the-customer-complaint.html https://nicholasg3.github.io/fintech/posts/embedded-finance-who-owns-the-customer-complaint.html Synapse's April 2024 bankruptcy left a shortfall of $60 million to $90 million between partner-bank records and its own, and customers waited weeks or months for their funds. Fri, 31 Jul 2026 01:27:33 +0800 https://nicholasg3.github.io/fintech/posts/mas-payments-licensing.html https://nicholasg3.github.io/fintech/posts/mas-payments-licensing.html A licence under Singapore's Payment Services Act settles whether a firm may offer payment services in Singapore; Jakarta, Bangkok and Manila each decide that for themselves. Fri, 31 Jul 2026 01:27:33 +0800 https://nicholasg3.github.io/fintech/posts/stablecoin-reserves-attestation.html https://nicholasg3.github.io/fintech/posts/stablecoin-reserves-attestation.html When SVB failed in March 2023, about $3.3 billion of USDC reserves, roughly 8 percent of the total, sat at the failed bank. Fri, 31 Jul 2026 01:27:33 +0800 https://nicholasg3.github.io/fintech/posts/bank-fintech-partnership-as-distribution-rent.html https://nicholasg3.github.io/fintech/posts/bank-fintech-partnership-as-distribution-rent.html US interagency guidance from June 2023 and a July 2024 joint statement say the bank keeps the compliance liability, whoever owns the app. Fri, 31 Jul 2026 01:27:33 +0800 https://nicholasg3.github.io/fintech/posts/realtime-payments-and-fraud-acceleration.html https://nicholasg3.github.io/fintech/posts/realtime-payments-and-fraud-acceleration.html Since October 2024, UK payment firms must refund Faster Payments scam victims up to £85,000 per claim; in the US, Zelle victims bore more than 80 percent of 2023 scam losses. Fri, 31 Jul 2026 01:27:33 +0800