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BaaS Banks Are in Time Out, and Here’s Why It’s a Big Deal

Gonzobanker

To realize the rewards of the BaaS industry, banks and fintechs are going to have to learn to play by some non-negotiable rules – together. It has more than 80 fintech partnerships including Coinbase, Upgrade, Affirm, Best Egg, Divvy, Rocket Loans and Stripe. But fear not, compliance-conscious compadres. If only it were so easy.

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Who needs millennials?

Chris Skinner

What strikes me most is that millennials tend to be the ones creating and leading many of the FinTech start-ups like the Collinson brothers at Stripe (28 and 26 years old), Ollie Purdue of Loot (23 years old) or Edward Maslaveckas, CEO and co-founder of Bud (26 years old). This is part of the reason I challenge bank leadership teams.

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Conference Alert: New Fintech Event to Focus on AI (duh!)

Fintech Labs Insights

In the fintech space, only Fintech Meetup , launched in 2021, has reached critical mass this decade. Last week’s event in Las Vegas attracted a self-reported 4,000 attendees and was the talk of the fintech pods and Substacks the last few weeks. The pandemic slowed the introduction of new events.

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Bankers Are Navigating a Brave New World with Mergers and ESG

Gonzobanker

On another front, you have digital disruption and fintech innovation, forcing bankers to step up their investments in transformation and more aggressively attack their existing business models. It must be what pours out from the culture, the leadership, the brand, and the operations of a modern banking institution.

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Chinese Officials Join US Politicians In Suddenly Falling Out Of Love With Big Tech 

PYMNTS

The news agency said that while Pan stopped short of calling for Ant’s breakup, officials want the firm to set up a separate holding company to ensure its capital adequacy and regulatory compliance. Any FinTech disruptor, when it becomes so big, represents systemic risk,” he told Webster.

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Revolut Refines Its Culture As It Seeks Expansion

PYMNTS

All these claims in the press are completely untrue,” he told The Financial Times during two and a half hours of briefings with Revolut’s senior leadership. We didn’t really have enough budget to hire a lot of great people in compliance,” he said. The reality is we have never done anything wrong.”

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The Thomson Reuters and IBM Exclusive Breakfast Briefing, Oct. 2, 2019 in Toronto

Insights on Business

How do compliance professionals manage more than 57,000 regulatory alerts in one year? IBM OpenPages with Watson recently had the opportunity to join host Thomson Reuters for a morning of regulatory compliance thought leadership to explore this very topic. Susannah Hammond Cost of Compliance Survey 2019.