As Fintech Ramps Up, Europe’s Banking Regulator Is On the Move
The EBA has to move out of London because of Brexit. With an influx of tech, startups and financial services providers, Ireland is making a case for Dublin.
Analysis
Banking on a new competitive environment – marketplace banking
Marketplace banking has the potential to deliver an interconnected financial services industry where banks can get closer to their small business customers explains Five Degrees’ Peter-Jan Van de Venn.
Wealthtech is coming to the High Street
For those in employed in financial services, technology has always been important – integrated systems for operations and execution have been with us for decades. But to the banking customer at a High Street branch the advances in technology may not be obvious. However, slowly and surely innovations from the fintech sector are filtering down to the mass-market.
Bring on the money drones
Following testing by Russia’s largest bank, Sberbank, to deliver cash to clients using a custom-made drone, the arrival of more frequent cash deliveries by drones look to be just around the corner, with reports suggesting as early as the end of 2017.
Fintechs – friends or foes?
Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.
The four things that will make or break bank risk management
What will make or break bank risk management? Victoria Chatterton, strategic director of RiskMinds, gives the lowdown.
Payment Trends: BAI Beacon 2017 Preview
Cut through the noise and examine the payment trends most likely to affect your bottom line.
Improving operational efficiency through digital transformation
With increasingly demanding customers, and competition from fast-growing fintech companies, banks are facing new pressures to digitise their offerings. Developing new software is key, but finding a reliable means to quantify the productivity of software teams and quality of code is increasingly difficult. How can banks be sure they are getting a reasonable output from the large investments they make in software engineering?
Analysis: the trend toward best practice in institutional FX settlement
Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.
What’s hot and what’s not in US fintech
Finovate (Banking Technology‘s sister company) teamed up with the Fintech Cocktail Club earlier this month to play another game of Fintech Tinder (otherwise known as hot or not), writes Julie Muhn. Here are the rules – we shouted out a list of 20 fintech trends and our cocktail-fuelled audience shouted their opinion on whether the […]
Banks going Kodak
When was the last time you visited a bank branch? While the rise of the internet, banking shifted the customer interaction from the branch to the web, the business was still owned and run end-to-end by the bank and at lower cost. For a few years now, the landscape has altered significantly bringing Kodak to […]
How millennials are shaping the future of payments
For the millennial generation, paying for a latte using a contactless card, transferring money to a family member or friend online or buying a pair of trainers with “one click” has become the norm. This generation has not only shaped and driven the payments revolution, but is also playing an active role in developing a lot of the payment technologies emerging today.
FinovateFall 2017: a look back at the four-day flow
Adding a pair of discussion days to Finovate’s traditional demo days format, has made it that much easier for FinovateFall attendees to answer the question perennial post-conference question: “So. What did you think?”
Will fintech cause the next financial crisis?
Payments experts weigh in on the analysis and offer their own two cents on fintech, innovation, regulation and risk.
Innovators’ Spotlight: SPENT Money
Rather than being top of wallet, SPENT Money wants to help consumers manage and earn rewards from what’s already there—at least for now.
3 Reasons Asia Is the Perfect Incubator for Fintech Innovation
Fintech investments in Asia-Pacific reached $10.5 billion in 2016—the highest amount to date since 2010, according to CB Insights data. See what’s behind the boom and why it matters.
The rise of regtech down under
Could Australia give the UK a run for its money? Wayne Johnson, co-founder and CEO of Encompass Corporation, explores.
Interview: Aleksey Chubar, VTB – leading a fintech revolution in Russia
If you’ve got preconceptions about what fintech looks like and where it’s happening, then Aleksey Chubar, head of digital transformation at VTB, has news for you. Russia is becoming a hotbed of fintech innovation – not just domestically, but internationally too. More than that, the rapid pace of technological change in the country means you’ll soon wonder how you got left behind.
Executive profile: Solana Cozzo, Mastercard
It’s a good thing Solana (“Sol”) Cozzo is high energy. When she’s not literally running or chasing after 3-year-old twins, she’s running Mastercard’s North American prepaid and inclusive growth business. It’s hard work when you consider that “the cardable opportunity is about seven times the current market,” she says.
App it. The future of banking
This morning I was having breakfast with a colleague. I paid the bill, and he sent me his share of the bill using our Monzo app. Before we’d walked out of the café, the money was in my account. Simple!
Corporate banking: work smarter, not harder. On user self-onboarding
Why would a bank let their corporates indulge in setting up system privileges online – without keeping close tabs on the process? Here’s why.
OCC Isn’t Ready for Fintech Charter Applications Just Yet
Acting Comptroller of the Currency Keith Noreika told FinovateFall attendees in New York this week that the agency is still in the exploratory phase of its fintech charter, according to news reports.
U.K. to Get New Payment Systems Operator by Year’s End
Payment Systems Regulator (PSR) and Bank of England have revealed that the U.K. will be getting the New Payment Systems Operator by the end of 2017, which the PSR says will be an important step in streamlining the U.K.’s payment systems and fostering competition and innovation.
Leveraging AI and Machine Learning to Enhance the Customer Experience
As big data just keeps getting bigger, banks, retailers and every other kind of company must have more sophisticated tools to understand and predict what customers want and need.
Did Apple Just Reinvent Retail Again?
Forget facial scans or a watch that’s not tethered to the phone. If you’re a bank or payments company, you’d best be looking at Apple’s plans for the transformation of retail.
Has the face of payments changed forever?
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
What You Need to Know about Pa.’s Money Transmitter License Changes
The introduction of new bond requirements for money transmitters in Pennsylvania is in line with an overall trend across states to enforce stricter conditions on money transmitter license holders and applicants. See what the licensing requirements mean for your business.
Payments: where have all the correspondents gone?
At the recent G20 meeting in Germany, Financial Stability Board (FSB) briefed leaders on its efforts to arrest the decline in correspondent banking relationships. FSB also presented the results of a survey of more than 300 banks in 50 countries, supplemented by Swift payments data, which showed that the number of correspondent banking relationships continues to decline globally.
The Convergence of Prepaid and Fintech Means More Innovation to Come
After his first few months at the helm of the Network Branded Prepaid Card Association, Brian Tate talks about prepaid’s role alongside fintech in the next generation of payments innovation.
MiFID II compliance: the essential confluence of regulation, compliance and artificial intelligence
With the July 2017 publication of its MiFID II Policy Statement, the Financial Conduct Authority (FCA) has signaled the final countdown to the most sweeping changes of governance, protection and transparency for a generation.
FIDO Alliance Addresses PSD2 Screen-Scraping Debate
Despite calls from fintechs to permit screen scraping under PSD2, the FIDO Alliance sees some serious flaws with that approach, including security and privacy issues.
The future of cross-currency payments
The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.
Factors in the Long Wait for EMV and Contactless in the U.S.
As some celebrate 10 years of contactless payments, Bastian Knoppers discusses why cards (not mobile wallets) are still king outside the U.S. and what it will take for the U.S. to catch up to the rest of the world on tap-and-go payments.
Overcoming board-level cybersecurity obstacles in the financial services industry
Today’s financial services institutions are challenged to keep pace with changing and covert cybersecurity threats. Since financial institutions are among some of the most appealing targets for hackers, it is critical for these organisations to remain extra vigilant about securing confidential information.
Top 5 Best Challenger Banks: Spotlight Profiles
Our Top 5 Challenger Bank spotlight series is complete. Get to know the challengers—Cashplus, Varo Money, Revolut, Capital on Tap and Fidor Bank—looking to shake up the status quo with tech and a superior customer experience.
Fintech: why commercial banks must follow retail banking’s lead
It’s been seen as the ultimate clash of cultures. The baseball cap and T-shirt versus the formal suit and tie; the young, quick-thinking fintech versus the risk-averse multinational corporate; David versus Goliath.
Banks, are you a passive data donor or a proactive data seeker?
With the arrival of new regulations, there are two main options for banks: they can choose to become either “data donors” or “data seekers”. These two positions imply opposite approaches to the new banking market that is in prospect, and sharply contrasting mentalities.
Wells Fargo Fake Bank Account Scandal Grows
The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.
Fintech: beware the fake news
In every aspect of life, sentiment overshoots. We overbuy and oversell securities. The political pendulum swings from left to right. Shops run out of ultra-fashionable goods only to heavily discount excess stock a couple months later. Ben Robinson, chief strategy officer at Temenos, explains how this is not a new phenomenon, but has got worse […]
Top 5 Best Challenger Banks: Fidor Bank
Our final spotlight article for our Top 5 Best Challenger Banks list is the only actual bank in the bunch. See how Germany-based Fidor Bank stacks up against the high street banks and its nonbank competitors.
