Sun.Oct 13, 2019

Why dumb old banks can’t compete

Chris Skinner

Now that’s a contentious title for a blog, but purposefully so. Old banks can compete in the new world if they’re smart … it’s just that so many of them are dumb. Dumb with data, as I’ve blogged before. To illustrate this, I have three examples.

Revolut Taps JPMC To Raise $1.5B For Global Expansion

PYMNTS

FinTech company Revolut wants to raise as much as $1.5 billion so that it can expand globally.

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The Finanser’s Week: 7th October – 13th October 2019

Chris Skinner

The main blog headlines are … What does “innovation” mean in finance? I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech.

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SoftBank To Seize Control Of WeWork

PYMNTS

The parent company of WeWork is at a junction after its initial public offering (IPO) tanked and its chief executive officer stepped down, Reuters reported on Sunday (Oct.

Things worth reading: 14th October 2019

Chris Skinner

Brazil FinTech Nubank Expands User Base

PYMNTS

The largest FinTech startup in Latin America — Brazil’s Nubank — is reporting a 25 percent increase in the number of clients since August, Reuters reported on Friday (Oct.

Is it time to Decentralize the World?

Daily Fintech

Is the current state of blockchain development ready to attract a large number of users? For the technology to become mainstream, it needs to be applied in ways that people actually find useful and provide a much better experience than what is already available.

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Bank/Fintech Partnerships: The Fad Is Over

Ron Shevelin

There are better paths to bank/fintech collaborations than partnerships

Razorpay Hires Mastercard Exec In Bid To Work With RBI On Payment Regs

PYMNTS

Bengaluru-based Razorpay would like to work with the Reserve Bank of India (RBI) on new regulations that would make it mandatory for payments companies to comply with RBI’s entry point, technology, security, data storage and more.

There's no shortcut to innovation, FIS exec says

BankThink

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president. Core systems Community banking Fintech Customer experience Digital banking Mobile banking Cybersecurity Data management FIS

China’s Club Factory Raises $100M To Grow Online Sales In India

PYMNTS

Chinese eCommerce platform Club Factory has raised $100 million in a Series D funding round as it plans expansion into India, sources reported on Friday (Oct. The new funding was led by Qiming Venture Partners, Bertelsmann, IDG Capital “and other Fortune 500 companies from the U.S.

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Using A Short-Term Loan To Close Other Loans

BankBazaar

Taking out a Personal Loan to close other loans might be a wise thing to do. But there are some points you should keep in mind. Read on to find out more. When it comes to loans , you get to think things over more often than not. This is so true, especially for Personal Loans.

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Regulators Say Crypto Asset Holders Subject To Securities Laws

PYMNTS

financial regulators have warned firms with registered digital assets that they must follow securities laws to prevent money laundering, as well as report any suspicious activity. The U.S.

Ineos 1:59

Bankelele

Today Kenya stood still, and the world watched as Eliud Kipchoge ran a specially staged marathon in Vienna Austria completing it in under two hours. The event dubbed “Ineos 1:59” was an unprecedented partnership event, backed by British chemical company Ineos and its billionaire Chairman, Jim Ratcliffe. Kipchoge ran the 42 kilometre-length course on a time of 1 hour […]. The post Ineos 1:59 appeared first on Bankelele. General Motors Olympics Safaricom Sports business

Amazon Prioritizes Equal Pay, Fraud Prevention And Data Privacy

PYMNTS

Online retail giant Amazon says it will launch into new markets amid an uncertain sea of controversies and regulations, CNBC reported on Friday (Oct. Amazon outlined its opinion on touchy subjects and said in a blog post last week, “there is much room for healthy debate and differing opinions.”

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What Top Innovation Leaders in Banking Have in Common

The Financial Brand

The most innovative leaders in banking are generating greater profits and higher satisfaction scores. Here's what they have in common. The post What Top Innovation Leaders in Banking Have in Common appeared first on The Financial Brand. Digital Banking Report Featured Content Innovation Strategies

Cannabis Cos See Share Prices Nosedive

PYMNTS

The public market for cannabis is off by more than 40 percent, despite the industry’s blazing forecast and enthusiastic quarterly reports, The Wall Street Journal (WSJ) reported on Saturday (Oct. The WSJ pointed to a near-$700 million merger of two U.S. companies that was scrapped.

Digital FCU Agrees to Settle Overdraft Lawsuit

Keith Leggett's Credit Union Watch

Digital Federal Credit Union (Marlborough, MA) will pay $1.8 million to settle lawsuit for improperly charging overdraft fees. Digial FCU will also forgive $766,000 in overdraft fees charged, but not yet collected.

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Brazil’s Banco Inter Eyes Partnership With Uber For FinServ

PYMNTS

A source has revealed that Brazilian lender Banco Inter SA is currently in discussions with Uber about partnering in financial services. The move is another move by Japan’s SoftBank Group — which is a shareholder in Uber — to integrate its business in Latin America. While the source wouldn’t comment on the terms of a possible deal, it would target the rideshare giant’s drivers and Banco’s more than 3 million clients.

Two Ways to Quickly Elevate Your Financial Institution’s Onboarding

The Financial Brand

Banks and credit unions often get bogged down by digital changes, but marketers can move faster in some areas, like onboarding communication. The post Two Ways to Quickly Elevate Your Financial Institution’s Onboarding appeared first on The Financial Brand. Customer Experience

World Bank Downgrades India’s GDP Forecast

PYMNTS

The World Bank has downgraded India’s GDP forecast due to a decrease in domestic demand. India’s cyclical slowdown is severe,” the report said, according to Bloomberg. “In In such a weak economic environment, structural issues surface and the weak financial sector is becoming a drag on growth.”.

Cannabis Firms See Share Prices Nosedive

PYMNTS

The public market for cannabis is off by more than 40 percent, despite the industry’s blazing forecast and enthusiastic quarterly reports, The Wall Street Journal (WSJ) reported on Saturday (Oct. The WSJ pointed to a near-$700 million merger of two U.S. companies that was scrapped.