Wed.Jul 10, 2019

Banks and FinTech Partnerships: a Clash of Extremes

Chris Skinner

A few years ago, I posted a guest article from Philippe Gelis, co-founder and CEO of FX firm Kantox, on Why FinTech Banks will rule the world.

Visa Invests In Crypto Storage Firm Anchorage

PYMNTS

In its second known investment in a cryptocurrency startup, Visa has reportedly invested millions in the crypto storage company Anchorage. The payments firm co-led the funding round along with digital currency-focused venture capital firm Blockchain Capital, Fortune reported.

Things worth reading: 11th July 2019

Chris Skinner

Mastercard Launches V-Card Acceptance Tool

PYMNTS

Mastercard is launching a new service designed to make it easier for B2B vendors to accept virtual cards.

Tools 247

Remitly secures $220m to add services beyond remittances

Bank Innovation

Remitly, a Seattle-based online international money transfer service, announced $220 million of new financing on Wednesday to expand its global customer reach and stretch beyond remittances into other areas of financial services.

EU Central Bank: Crypto Doesn’t Count As Currency

PYMNTS

The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn’t recognize it as an actual currency, according to reports. The bank also said it didn’t have any plans to put bitcoin into its reserves.

Brazilian challenger banQi is working with a mass retailer to lock in customers

Bank Innovation

Airfox, a three-year old Brazilian financial startup that has raised more than $16 million, wants to enhance consumers' confidence in digital-only banking through its challenger brand banQi.

Retail 159

More Trending

Open Bank Project’s Chaib: Open APIs will benefit banks and startups

Bank Innovation

Good news for fintech startups: In the future, every bank will have an API. That’s according to Ismail Chaib, chief operating officer at Open Bank Project, a Berlin-based open source API platform for banks.

Trends 159

UK Regulator Readies $123M Fine For Marriott Over GDPR Violations

PYMNTS

The U.K. data protection authority will hit Marriott with a £99 million ($123 million) fine for a breach that exposed the data of up to 383 million guests. Last year the hotel company revealed that guests’ data was accessed, tied to a breach of the Starwood hotel guest reservation database.

Kleptocracy – What Does it Mean to Community Financial Institutions?

Abrigio

The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat?

Cambridge Global Payments Automates X-Border AP

PYMNTS

FLEETCOR -owned Cambridge Global Payments has announced the launch of its Invoice Automation Solution.

Open Bank Project’s Chaib: Open APIs will benefit banks and startups

Bank Innovation

Good news for fintech startups: In the future, every bank will have an API. That’s according to Ismail Chaib, chief operating officer at Open Bank Pro.

Facebook’s Libra And The Future Of Digital Identity

PYMNTS

With the digital identity market expected to reach $15 billion by 2024, major ID providers such as Google and Apple are racing to improve the identity verification experience.

Brazilian challenger banQi is working with a mass retailer to lock in customers

Bank Innovation

BanQi is getting physical with retailer Via Varejo. Airfox, a three-year old Brazilian financial startup that has raised more than $16 million, wants. Carousel Customer Experience Daily Post 2 Daily Post 3 Payments Premium Retail Banking Wealth Management Airfox banQi Brazil Mastercard

Retail 130

African Mobile Payments Startup OPay Raises $50M

PYMNTS

African payments startup OPay has raised $50 million in funding after investors such as Sequoia China, IDG Capital and Source Code Capital joined in the latest round, according to a report.

Mobile 206

Remitly secures $220m to add services beyond remittances

Bank Innovation

Remitly, a Seattle-based online international money transfer service, announced $220 million of new financing on Wednesday to expand its global custom.

Report: Minding The Mobile Card Services Interest Vs Usage Gap

PYMNTS

Smartphones deliver alerts on everything from when a storm is coming to when a favorite actor is in the news. They can also let consumers know something arguably more important: when a purchase posts to their credit cards or cards they share with partners or dependents.

Cards 204

Digital change outcomes impact bank performance

Accenture

In Formula One auto racing, the pole position—the front-of-the-line starting position won by the top qualifier prior to a race—is strongly correlated with first-place and top-five finishes.

Bitcoin Spikes To Near 2019 High

PYMNTS

Bitcoin continues its roller coaster of ups and downs in 2019 as the cryptocurrency shot back up and breached $13,000 for the first time in about two weeks, according to a report by Bloomberg.

Changing Payments and Bank Strategy

Banker to Banker

BANK STRATEGY One item that should be on every bank’s strategic horizon is how to adapt to the changing face of payments. If you are one of those bankers that say, “Cash won’t go away in my lifetime,” you could be right.

Can Digital Platforms Solve The Fraud vs. Friction Dilemma?

PYMNTS

Digital platforms facilitate everything from online shopping to ridesharing to booking a hotel. These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud.

Fraud 193

Acceptability = Mobility

Perficient Financial Servies

Out of Touch? I was at a doctor’s office a few weeks back. I thought it was strange that he brought in a laptop and was pulling up patient information from it. It may not be strange to most, but it was for me.

Armored Truck Spills $175K Onto Atlanta Highway

PYMNTS

Drivers on Interstate 285 in Atlanta likely thought they had come into some quick cash when $175,000 recently fell out of an armored truck.

5 Advantages of Datorama for Marketers

Perficient Financial Servies

We all know the importance of measuring ROI and making data-driven decisions. The concept is simple. The execution, on the other hand, is easier said than done. The challenge isn’t a shortage of data. As a marketer, you’re likely sitting on a pile of it.

Fed’s Powell Speaks To Lawmakers About Its Libra Concerns

PYMNTS

The Chairman of the Federal Reserve Jerome Powell spoke to a congressional committee on Wednesday (July 10) about the organization’s concerns with Facebook’s proposed cryptocurrency Libra, according to a report by CNBC.

Where Big Tech Is Attacking Financial Services

CB Insights

Big tech companies — like Google, Facebook, Apple, and Amazon — are uniquely positioned to win in key financial services verticals. For one, big tech companies have billions of users and the power to keep those users engaged.

Tech Experts Not Confident In Launch Of Facebook’s Crypto

PYMNTS

Confidence is waning among tech executives that Facebook’s cryptocurrency Libra will get off the ground by 2020, if at all. Facebook unveiled its plans in June amid international buzz, but now Washington, D.C. regulators and lawmakers are putting up roadblocks, CNBC reports. “I

Acceptability Equals Mobility

Perficient Financial Servies

Out of Touch? I was at a doctor’s office a few weeks back. I thought it was strange that he brought in a laptop and was pulling up patient information from it. It may not be strange to most, but it was for me.

Four Indian Startups Garner $8.5M From Samsung Venture

PYMNTS

Samsung Venture Investment Corporation (SVIC) announced on Wednesday (July 10) an $8.5 million investment in four technology startups based in India, with plans to invest in over 100 additional startups over the next three to five years in the country.

Supply Chain Metrics: Choosing the Best Technology Vendor for Partnership

Perficient Financial Servies

In our previous blog, How to Embrace Change in Supply Chain with Minimal Impact , we discussed the powerful impact of change on your supply chain 4.0 journey. In this blog, we’ll discuss what to look for in technology vendors when considering a partnership.

Amazon Brings Counterfeit-Fighting Tool To New Markets

PYMNTS

Amazon is expanding its anti-counterfeiting program, called Transparency, to Europe, India and Canada, according to a report by TechCrunch.

Tools 176

How Is Data Affecting Your Dating Life?

Dataconomy

What algorithms do dating apps use to find your next match? How is your personal data impacting your decision to go on a date? How is AI affecting your dating life? Find out below. Technology has changed the way we communicate, the way we move, and the way we consume.

Data 71

How mPOS Systems Help July Fourth Sales Boom Year After Year

PYMNTS

Independence Day is an important affair for the seaside city of Southport, North Carolina. Its celebrations last days and boast a long lineup of events and activities that draw in tourists and vendors from along the East Coast.

System 176

Creating Holistic Digital Experiences for Healthcare Events pt. 3

Perficient Financial Servies

Adopting a comprehensive approach to your events marketing strategy that includes event listing and promotion on your flagship website as well as marketing efforts will ensure a holistic approach in creating awareness, engagement, and loyalty for your healthcare events.

Canada’s Path Toward B2B Payables Modernization

PYMNTS

Canada is embracing the payments modernization journey, with organizations like Payments Canada driving adoption of faster, more agile payment functionality in the country. Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts.

Data 168

Don’t look now, but home equity delinquencies are rising

BankThink

Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.

Data 99

How Beef Jerky Is Driving Digital Payments Innovation

PYMNTS

Sometimes entrepreneurs start companies due to a confluence of factors: Prevail Jerky Founder and CEO Glen Kohn, for instance, was inspired to start his company after finding it difficult to find food that met the dietary needs of his family, and he happened to have a hobby of smoking and curing meats. (He He made bacon, sausage, smoked briskets and pork shoulders.) And, while some brands were so-called “clean” enough for the family, the products lacked the flavor or texture they liked.