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Banks Say FinTech Innovation, Not Regulation, Is Now Their Fiercest Market Pressure

PYMNTS

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. In its Global Banking Outlook 2018 survey , EY assessed 221 financial institutions across 29 markets. Optimism Up. Cybersecurity.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

The OCC’s attempt to provide a clear bright line test for determining when a bank is the “true lender” in a bank-model program through a regulation was overturned by Congress under the Congressional Review Act.) In addition to “true lender” threats, non-bank participants in bank-model programs will continue to face state licensing threats.

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Disruptors: The bogeyman for traditional banks?

Long Lasting Ideas

And while some innovations, like mobile banking apps, are marvelous opportunities for community banks to improve customer service and solidify their customer base, there are some scary trends at play that could radically transform banking as we know it and spell bad news for smaller banks. at Bank Marketing Strategy + Ideas.

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Yes, Virginia, There Are Women Leaders In Fintech

Tech and Finance

Pendo Systems has announced that Ruth Wandhöfer, global head of regulatory and market strategy at Citi, has joined its board. Her reputation has been built around her ability to drive regulatory and industry dialogue while developing product and market strategies that integrate with an evolving regulatory and innovation landscape.”.

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P2P lending makes it to main street?

Celent Banking

In this same line, Banco Galicia in Argentina has a very interesting offering – Galicia MOVE – aimed to college students based on a totally digital proposition, underpinned by the use of digital channels and a targeted marketing strategy. This is why he works on 3 key issues (in order of importance): Regulation.

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William Mills Agency Releases New White Paper: 10 Reasons Why Fintech Startups Fail

William Mills

A few of the deadly mistakes cited in the white paper include: underfunding the fintech startup; underestimating length of fintech sales cycles; not understanding the fintech customer markets; no relations with the bank core providers and poor fintech sales and marketing strategies. “It

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Push Becomes Pull With QR Code Alternative

PYMNTS

Those things take time, and while it may not be impossible in the long run, replacing the QR code for payments is not a practical go-to-market strategy for a new tech. Going mainstream as a payment method would require an established technical standard and wide consensus among players in the field, Darbi said.

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