Sun.Feb 16, 2020

Bank Wars, Episode XX: The Rise of FinTech

Chris Skinner

Over the years, a few people have likened me to the Yoda of banking. Yoda is one of the most likable characters in the Star Wars franchise, but I’m not sure if I like the comparison. Yoda is seriously old, speaks in riddles and is tiny and wrinkled.

Mexican digital bank Stori aims to assist the underbanked

Bank Innovation

Digital bank Stori, which is based in Mexico City, aims to reach customers with minimal access to financial services. Recent research highlights the problems the bank is attempting to solve.

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Things worth reading: 17th February 2020

Chris Skinner

FIS touts client growth and loyalty partnership with PayPal

Bank Innovation

The modernization of core banking tools and loyalty point redemption mechanisms are key priorities for banking technology provider FIS. In a fourth-quarter earnings call last week, the Jacksonville, Fla.-based

Hershey’s, Nestlé Supplier To Offer Mass Production Of 3D Printed Chocolate

PYMNTS

Swiss chocolatier Barry Callebaut ’s Mona Lisa design studio has developed personalized 3D printed chocolate at scale, the company announced Friday (Feb. Mona Lisa teamed up with a pastry chef, Jordi Roca, so he could add his creative touch to 3D chocolate.

With ‘fintech startup mentality,’ MoneyGram launches text payments   

Bank Innovation

MoneyGram is upgrading its digital capabilities beyond international cash pickup services with FastSend, a new feature that allows customers to send money to recipients’ accounts via mobile phone numbers instead of account numbers. The feature rolled out earlier this month. “We’re

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How Australia’s banks can rediscover lost purpose

Accenture

In their quest for growth, Australia’s financial services (FS) firms spent decades acquiring and merging with a range of businesses to become one-stop shops. The aim?

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Google Looks To Publishers To Start Rival To Apple News

PYMNTS

Google might launch its own news aggregation service as a way to compete with rival Apple News+. The Wall Street Journal reported that Google has been discussing the issue with several publishers, talking about paying a license fee to use content in an upcoming project.

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Is partisanship seeping into bank regulators’ discourse?

American Banker

Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper.

SoftBank Earmarks $1B For eCommerce, Healthcare And FinTech In LatAm

PYMNTS

SoftBank will add $1 billion this year to its $5 billion Latin America Fund introduced in 2019, adding to last year’s $1.6 billion, Bloomberg reported on Friday (Feb.

Bitcoin price surges. Is Coronavirus behind it?

Daily Fintech

The Coronavirus is negatively already affecting several global industries and should the disruption continue, we could see the impact reach all the way to the end of 2020. One of them, electronics and tech are already feeling the impact of the coronavirus.

Buffett’s Berkshire Hathaway Buys Stake In Kroger

PYMNTS

Berkshire Hathaway ’s new investment in Kroger sent shares soaring Friday (Feb. 14), CNN reported. Billionaire investor Warren Buffett is chairman and CEO of Berkshire.

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How Does Coronavirus Impact Your Insurance?

BankBazaar

The novel Coronavirus that originated in Wuhan has now spread around the world and killed more than 2,000 people. Will your insurance cover this pandemic? Let’s find out. . The novel Coronavirus that emerged in central China last year is now spreading rapidly to other parts of the world.

EU Braces For Coronavirus’ Impact On PMI

PYMNTS

China’s coronavirus is having a negative impact on the eurozone’s already-sluggish economy, and no one is confident that the U.S. Fed will leave interest rates alone until the end of the year. In addition, the outbreak of coronavirus brought copper’s rally to an end.

Digital Marketing Strategies for Community Financial Institutions

The Financial Brand

7 steps for transitioning from traditional marketing channels to a modern menu of digital promotion that reaches today's banking consumers. The post Digital Marketing Strategies for Community Financial Institutions appeared first on The Financial Brand. Credit Unions Digital Marketing

Google’s Waze Acquisition Likely Target Of FTC Scrutiny

PYMNTS

The U.S. Federal Trade Commission (FTC) is investigating acquisitions made by big tech firms in the past 10 years and has a special focus on Google ’s $1.1 billion purchase of mapping app Waze , Bloomberg reported on Friday (Feb.

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Rakuten Dumps $1.4B In Tech Holdings, Including Pinterest Stake

PYMNTS

Rakuten , the Japanese eCommerce conglomerate, has sold billions of dollars’ worth in shares, including the entirety of its stake in Pinterest.

Aussie Tax Office Reminds SMBs To Pay Debt

PYMNTS

Small and medium-sized businesses (SMBs) in Australia are being reminded by the country’s tax office that owing money to the agency is not OK, Broker News reported Friday (Feb. The national business funder Scottish Pacific said in a press release Thursday (Feb.

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Rakuten Dumps $1.4B In Tech Holdings Including Pinterest Stake

PYMNTS

Rakuten , the Japanese eCommerce conglomerate, has sold billions of dollars’ worth in shares, including the entirety of its stake in Pinterest.

Gov’t: US Manufacturing Spend Dips As US Consumer Spending Rises

PYMNTS

A warm January led to utilities dropping 4 percent for the month as Americans reduced their reliance on heat, according to The Wall Street Journal. Overall, industrial production, which is measured in factory, mining and utility output, was down 0.3 percent last month, adjusted for the season.

Zuckerberg Talks Guidelines For How To Regulate Facebook

PYMNTS

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported.