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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. It also solicits feedback on how to maximize stakeholder engagement.

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Why FinTech start-ups think they can beat the banks

Chris Skinner

There’s an old joke about the guy who’s lost driving in the countryside who stops to ask a pedestrian how to get to the city. The pedestrian replies: “oh, if you want to get there, I wouldn’t start from here”, and this is exactly how banks feel today. Not bad for a six-year-old start-up.

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Charles Potts: Being comfortable with discomfort

Independent Banker

As ICBA’s chief innovation officer, it’s my job to push the envelope, to make people uncomfortable. He observed that cybersecurity, once relegated to the bank’s information technology (IT) department, had instead become a natural extension of the business that affected everyone across the organization, him included. It’s in you.

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How can a bank guarantee its future?

Chris Skinner

Banking and innovation doesn’t go together. Innovation creates risk and risk is unacceptable in a financial marketplace. So it’s interesting how we’ve spent the last five years talking about sandboxes, creativity and design in financial technologies. The idea is to innovate outside the markets.

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Bankers: What Problem Are You Trying to Solve?

Jeff For Banks

Industry pundits in the know about everything financial technology and financial technology firms will soon be clinking martini glasses saluting each other and telling stories about their profitability and number of bank installs they have under their belt. It is a veritable "who" of financial technology firms.

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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). With today’s uncertain economic and interest rate environment, offering our customers flexibility on how to store their cash is a powerful added benefit.”.

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How Real-Time Data Recharges The Monthly Financial Close

PYMNTS

Financial technology innovation has opened the doors to massive transformation of corporate finance departments. While flashy corporate FinTech is exciting, innovation efforts have rarely focused on a mainstay of corporate finance teams: the financial close process, a crucial, but continually outdated function.

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