Sun.Nov 03, 2019

Big Banks versus Big Tech … it’s all about the money

Chris Skinner

I’ve blogged for a while now about the different approaches to Big Tech in China and America. In China, Big Tech is pretty much working hand-in-hand with government to solve society’s issues and police them.

CapOne Back Online After Major Outage

PYMNTS

Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their accounts and direct deposits, a technical issue that the company has resolved, CNET reported. .

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The Finanser’s Week: 28th October – 3rd November 2019

Chris Skinner

The main blog headlines are … McKinsey reckon banks are in a ‘do-or-die’ moment … really? A few talking points last week, but two hit me in particular. The first is a McKinsey report that reckons half of the world’s banks are not viable.

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Goldman Extends $10B In Apple Card Credit In First Month

PYMNTS

Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card?

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Charles Darwin would have built a killer stablecoin. Stablecoins are competitors to traditional bank accounts

Daily Fintech

New forms of money and their adoption will greatly depend on two things: if they can be used as a store of value and if they can be used as a means of payment. Stablecoins have emerged promising both, making significant strides in the past couple of years.

SMB Lending In Australia After Lending Standards Are Waived

PYMNTS

Australia is making small business lending easier by waiving responsible lending standards for small firms. Treasurer Josh Frydenberg announced last week that he would instruct the Australian Securities and Investments Commission (ASIC) to order banks to waive the standards for SMBs.

Pressure grows on administration to fill Fed, FDIC seats

BankThink

Senate leaders say they're ready to consider appointees to fill vacancies at the two regulatory agencies, if only the White House would send over their names. Trump administration Career moves Policymaking Election 2020 Mike Crapo Sherrod Brown Donald Trump Jerome Powell Federal Reserve FDIC

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More Trending

Is Big Tech’s ‘for the people’ rhetoric legit?

BankThink

Large tech companies have been driving home the message that they can help the many Americans who struggle financially. But there are good reasons to be skeptical of their intentions. Fintech Disruptors Mobile banking Mobile wallets Mobile payments Mobile technology Dan Schulman Uber Facebook PayPa

SPEZA To Accept China’s New Sovereign Digital Currency

PYMNTS

FinTech company SPEZA announced that it will be able to accept China’s Digital Currency Electronic Payment (DCEP), the world’s first sovereign digital currency.

Improve Bank Boards Through A Disciplined Nomination Process

Jeff For Banks

" Rigorous, peer-reviewed studies suggest that companies do not perform better when they have women on the board. Nor do they perform worse." ~ Katherine Klein, University of Pennsylvania Do you know how difficult my life might become for the above quote?

McDonald’s CEO Ousted Over Relationship With Staffer

PYMNTS

McDonald ’s has fired its chief executive officer because of a consensual relationship he had with an employee. The fast food giant announced that its board voted late last week to fire Steve Easterbrook after investigating his relationship with the unnamed employee.

Uber’s Fintech Strategy: A Conversation With Peter Hazlehurst, Head Of Uber Money

Ron Shevelin

Uber recently announced Uber Money, a new division within the ride-hailing firm. Here's why the strategy is a winner

Bitcoin Daily: Telegram Blockchain Startup Pilots Crypto Wallet; Ember Crypto Portfolio App Looks To Raise $1M In Securities Sale

PYMNTS

Telegram has released an early desktop wallet for its “gram” token, allowing users to download the test app for MacOS, Windows and Linux 64 bit. Now you have a wallet only you control – directly, without middlemen or bankers,” the app says, according to CoinDesk.

Retailers must act as if crypto payments are inevitable

Payments Source

To lay the groundwork for future success, retailers need to create a digital currency strategy. Most retailers and online brands are aware they need a digital currency plan but don't know where to start the process, says cryptocurrency lawyer Felix Shipkevich.

Study: US Housing Market Slows Down As Homeowners Stay Put Longer

PYMNTS

homeowners’ decision to stay in their homes longer is keeping much-needed inventory off the real estate market, causing a slip in home sales.

Leading through the storm

CU Insight

When Sterling Nielsen started as CEO of Mountain America Credit Union on Nov. 1, 2008, the credit union—like the economy—was in trouble. Not only did Nielsen help the CU power through some difficult years, but he set a bold plan to grow to $10 billion from $2.8 billion by 2022. With $9.1

In First Month, Goldman Extends $10B In Apple Card Credit 

PYMNTS

Goldman Sachs said it doled out about $10 billion in credit lines in just over month for the Apple -branded credit card, Bloomberg reported on Friday (Nov. According to regulatory filings made public this week, Apple Card?

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NCUA bans 2 from future work in FIs

CU Insight

The NCUA in October issued two prohibition notices , which bar individuals previously associated with credit unions from any future participation in the affairs of a federally insured financial institution.

Capital One Resolves Glitch Keeping Customers From Their Money

PYMNTS

Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their accounts and direct deposits, a technical issue that the company has resolved, CNET reported. .

Nominations open for the 2020 CU Hero of the Year award

CU Insight

The credit union movement is full of unsung professionals who devote their talent to shaping a brighter future for members and their community.

Marketing Budgets: Where Credit Unions Are Spending in 2020

The Financial Brand

Credit union marketers explain how they will be allocating their marketing budgets on media, martech, new tools, staffing, digital, and more. The post Marketing Budgets: Where Credit Unions Are Spending in 2020 appeared first on The Financial Brand. Featured Content Marketing Strategy

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Marketing Budgets: Where Banks Are Spending in 2020

The Financial Brand

Bank marketers explain how they will be allocating their marketing budgets on media, martech, new tools, staffing, digital, and more. The post Marketing Budgets: Where Banks Are Spending in 2020 appeared first on The Financial Brand. Featured Content Marketing Strategy

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Open Banking Fintech Partnerships Required For Better Consumer Experiences

The Financial Brand

To provide the level of customer experiences expected, traditional banks and credit unions need to leverage open banking partnerships with fintech firms. The post Open Banking Fintech Partnerships Required For Better Consumer Experiences appeared first on The Financial Brand.

What Banking’s Future Looks Like to Wells Fargo’s Innovation Chief

The Financial Brand

You'll want to hear what Lisa Frazier has to say about when to use AI, the importance of platforms, and creating a new branch experience. The post What Banking’s Future Looks Like to Wells Fargo’s Innovation Chief appeared first on The Financial Brand. Featured Content Innovation Strategies