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Things worth reading: 7th May 2020

Chris Skinner

Things we’re reading today include … Banking the rich and famous: the rise of private digital banks Bank of England expected to hold off on fresh stimulus for now Coronavirus threatens future of eurozone, Brussels warns Small firms secure £2bn in bounce-back loans in first 24 hours Virgin Money suspends … The post Things worth reading: (..)

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The Race To The Cloud: Will Digital Banks Win?

PYMNTS

More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely. The bank is working with technology giants Google and Microsoft to create new cloud-based tools that will use their cloud computing software.

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The Evolution Of Digital Banking Security

PYMNTS

Digital banking customers are looking for an institution that can keep their data safe, with security mishaps creating the possibility that they can move to other apps. 183 billion: The amount the global market for travel activities is expected to reach by 2020. In addition, Stitch Fix Inc. Data: $370.3

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2020 GonzoBanker Awards

Gonzobanker

This Year was brought to you by the number 2020 and the letters W, T and F” – Big Bird (more or less). By meeting the deposit and banking needs of customers and members minus branch systems that were shuttered in a two-week period. Sit back and enjoy our take on the best and worst of banking in 2020 as you celebrate the holidays.

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Credit Unions Unite Behind Digital Banking

PYMNTS

billion) and mortgages find most credits unions on solid footing as 2020 begins. But change is in the air, and it’s the intoxicating scent of digital transformation. Specifically, the metamorphic impact of mobile open banking and instant payments has been the first real test of the trust bond that holds CUs together.

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Monzo’s Cash Burn Sets Stage For Big Capital Raise In 2020

PYMNTS

As online banking continues rapidly evolving , ahead of another anticipated round of funding next year, digital challenger bank Monzo remains in discussions to secure as much as £100m in upcoming weeks. million customers in 2019, offering those users a mobile app bank account and a distinctively-colored coral credit card.

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5+ Areas Financial Institutions Must Focus on in the Current and Post-COVID-19 Era

Perficient

Financial institutions must understand the new journey customers and colleagues have embraced in 2020 and begin to change their strategy from FI-focused to customer-focused for both the front and back office. Furthermore, financial institutions should use AI to better understand what works and, more importantly, what does not.

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