Mon.Dec 09, 2019

Do users care about their data?

Chris Skinner

A further discussion about data and the key issue of who should have access. During a recent lunch, we talked about how Chinese citizens allow the government to see all of their digital footprint via Tencent and Alibaba, but they do this for a number of reasons.

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Bank Innovation Ignite to focus on digital customer journey

Bank Innovation

The business of banking is reaching a critical inflection point as ‘challengers’ take market share and incumbents implement strategies to accelerate their digital transformation efforts to enhance customer journeys.

Things worth reading: 10th December 2019

Chris Skinner

Retail 156

Trust in UK startup banks growing among all age categories, data shows

Bank Innovation

The notion that customers don’t trust non-legacy banking brands is starting to fade, at least in the U.K. A study from consultancy A.T. Kearney released this month entitled “How Convenience, Innovation, and Trust Will Shape Tomorrow’s Banking,” noted that while U.K.

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Here is the Data on Bank Customer Problem Resolution

Banker to Banker

Assume for a second that your bank screws up and causes a problem. The customer comes in or calls to complain - Do you apologize? Of course, you do – but then what? For the most part, community banks are fantastic and solving problems and making customers happy.

Banks facing data crisis may need political help, Denmark warns

Bank Innovation

First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the “real game changer.”

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How Your Customers Want to Communicate With Your Bank

Banker to Banker

Since your bank's primary value proposition is service and you are likely striving for a superior customer experience, then it would make sense that the first stop you should make is to improve your ability to communicate with the customer.

More Trending

SoftBank Parts Ways With Dog-Walking Startup Wag

PYMNTS

SoftBank is giving up on the dog-walking startup Wag after investing $300 million two years ago, The Wall Street Journal (WSJ) reported on Monday (Dec.

What Fintech Bubble? How To Find The Good Fintech Investments

Ron Shevelin

Is there a fintech bubble? There are good arguments for both sides of the coin. Ultimately, one side wins out

Money Laundering Fears Propel Japanese Banks To JPMorgan’s Payments Network

PYMNTS

Japan is looking to JPMorgan Chase & Co.’s s blockchain-based information network for payments, Bloomberg reported on Monday (Dec.

How innovative can Goldman Sachs be with its planned robo-advisor?

Daily Fintech

Maybe Goldman Sachs leads the way so that Digital Advice reaches the $1.26 trillion projected by 2023. A mid-year look at Digital investing [link] via @DailyFintech #WealthManagement #fintech #roboadvisor pic.twitter.com/rdHxb1Lgty. — Efi Pylarinou (@efipm) July 16, 2019.

FlexPay Snags $6M To Help Merchants Reduce False Declines

PYMNTS

FlexPay, a Montreal-based FinTech company that uses artificial intelligence (AI) and machine learning to aid merchants in recouping revenue lost from falsely declined transactions, has raised $6 million in a funding round, according to a release.

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Fintech Disruption Leads to Consolidation in the Wealth Management Space

CCG Insights

For years the industry has seen a trend of fintech startups moving from competition to cooperation with legacy financial institutions, from disruption to partnership. It may be closest to the.

Zillow Expands Zillow Offers To LA, Orange County

PYMNTS

Zillow Offers launched in Los Angeles and Orange County on Monday (Dec. 9), its second-largest housing market in the nation, GeekWire reported. San Diego and the Inland Empire areas already had Zillow Offers, and the company’s LA expansion covers much of Southern California.

Tucson 130

Developing and Retaining Top Talent for Long-Term Success

ABA Community Banking

It's fairly obvious why banks are so focused on attracting and retaining high caliber employers. Just as in sports, when you have a talented team and a good game plan, you get great results. The post Developing and Retaining Top Talent for Long-Term Success appeared first on ABA Banking Journal.

Zeus Living Raises $55M To Grow Corporate Housing Service

PYMNTS

Short-term corporate housing company Zeus has raised $55 million in a series B funding round, according to a blog post by the company. The round was led by TI Platform Management with participation from Airbnb , Spike Ventures, Comcast, CEAS Investments, NFX and Initialized Capital.

Credit Unions to Get More Relief From Remittance Transfer Rule

New York's State of Mind

Good morning, folks. Busy day today but I am in a particularly good mood because I got to watch the Patriots lose again. Do you realize this entire generation of New England football fans has never had to watch bad football? Anyway, I wanted to give you a quick heads up on two issues involving […]. Compliance Regulatory technology CFPB Electronic Fund Transfer Act NCUA section 919 Senator Elizabeth Warren Senator Sherrod Brown threshold

Deutsche Bank Predicts Weak Fiat System Will Fuel Demand For Crypto

PYMNTS

The past several months have seen bitcoin perhaps overshadowed (just a bit) by any number of large-scale efforts to bring digital coins to mainstream society. Chief among those efforts, of course, has been the (continuing) news that China is set to launch a nationalized digital version of the yuan.

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To ignore Gen Z is ‘to flirt with irrelevance’: Wells Fargo exec

American Banker

Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary operations.

London’s Paysend Licensed To Operate In Canada

PYMNTS

Paysend , a FinTech out of the U.K., has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports.

Rumblings of Texas M&A wave after high-profile deal

American Banker

The Independent Bank-Texas Capital merger could prompt other banks in the state to consider selling or buying. M&A Community banking Digital banking Revenue and expenses Texas

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Bitcoin Daily: African Open Blockchain Ecosystem In The Works; Authorities Shut Down Bitcoin Scam In Brazil

PYMNTS

Sekunjalo Investment Holdings has teamed up with Chinese public blockchain leader Ultrain Technology Limited to develop a pan-African open blockchain system called the African Chain 3.0, according to reports.

Sales tax in a digital age

Matt Wilcox Pro

I shall open with something of a circular observation: If it weren’t for digital technology, there could be no Internet commerce. Lest you think I’m being too obvious, I’m not talking about payments via wearables, portables, laptops, or desktops, vital though they are.

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Last Roar Of The Paper Tiger?

PYMNTS

What if you heard that over 70 percent of decision-makers in your industry had begun settling accounts payable (AP) and accounts receivable (AR) invoices in some new, faster way? Crazy fast, compared to the old way. And it’s awesome, because you have the exact same capability.

Merchants need more than cards to capture digital pay in Latin America

Payments Source

The region is technologically advanced, but still has a large percentage of underbanked consumers, says PPRO's Javier Vallaure. Retailers Payment cards Underbanked Mobile payments Latin America

Lawyer Convicted For Stealing $60M From Belgium’s Richest Family

PYMNTS

A lawyer on Monday (Dec. 9) was convicted in Swiss court of laundering money and forgery for stealing shares from Belgium’s richest family, according to a report by Reuters.

Dutch success in wearable payments calls into question the role of transit

Payments Source

In many nations, transit fare payments are seen as a key first step toward the adoption of mobile and wearable payments. In the Netherlands, this wasn't the case. Wearable payments Mobile payments Digital payments The Netherlands

Former FCC Chair: US Should Ease 5G Regs To Be Competitive

PYMNTS

Building out 5G networks is imperative to the U.S., as China aggressively moves forward with rolling out the next-generation wireless technology, former Federal Communications Commission (FCC) Chairman Reed Hundt told CNBC on Monday (Dec.

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Not in time for Christmas: Former Director Cordray authors book on CFPB

CFPB Monitor

Although it will not be published in time for holiday gift giving, pre-orders are being taken for a new book written by former CFPB Director Richard Cordray.

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Zeus Raises $55M From Investors Including Airbnb

PYMNTS

Short-term corporate housing company Zeus has raised $55 million in a series B funding round, according to a blog post by the company. The round was led by TI Platform Management with participation from Airbnb , Spike Ventures, Comcast, CEAS Investments, NFX and Initialized Capital.

Google updates financial products and services policy to restrict advertising of debt relief services

CFPB Monitor

Google has updated its financial products and services policy to restrict the advertisement of debt settlement, debt management services, and credit repair services.

UK’s Digital Starling Bank Misses SMB Loan Target

PYMNTS

London’s digital bank startup Starling Bank has loaned just 1 percent of the amount it pledged to small and medium-sized businesses (SMB), BM Magazine reported on Monday (Dec. Founded in 2014 by former Allied Irish Banks COO Anne Boden, Starling Bank committed to execute almost £1 billion ($1.3

Tools 130

Dept. of Ed close to releasing proposal that would facilitate income share agreement programs at selected Title IV schools

CFPB Monitor

My colleagues and I have the privilege of advising numerous clients on income share agreements (ISAs), including universities, service providers, and institutional investors. So we were excited by reports that the U.S.

Deutsche Bank And The Contrarian Cash And Crypto Prediction

PYMNTS

The past several months have seen bitcoin perhaps overshadowed (just a bit) by any number of large-scale efforts to bring digital coins to mainstream society. Chief among those efforts, of course, has been the (continuing) news that China is set to launch a nationalized digital version of the yuan.

Course 130

SCOTUS denies certiorari petition filed by All American Check Cashing

CFPB Monitor

The U.S. Supreme Court has denied the Petition for a Writ of Certiorari Before Judgment filed by All American Check Cashing.

UK Fintech Paysend Expands To Canada

PYMNTS

Paysend , a FinTech out of the U.K., has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports.

CFPB Ombudsman’s Office releases its eighth annual report

CFPB Monitor

Last week, the CFPB Ombudsman’s Office released its eighth annual report covering the Office’s activities during fiscal year 2019.