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Big Banks Turn Silicon Valley Competition Into Profit

In an annual letter to shareholders last year, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon warned in bold print that “Silicon Valley is coming” for the financial industry. This year, his tone was upbeat, describing payment systems and partnerships his bank set up to compete. (more…)

Banks, Blockchain, Fintech news, Global trends, Marketing Report

July 29, 2016

Insurance Companies Have Joined the Ranks of Shadow Banks

When all else fails, lend.

That’s the strategy of some of the biggest U.S. insurers as they seek higher returns in an investment universe where buying bonds sometimes means guaranteed losses. (more…)

Banks, Fintech news, Global trends

July 29, 2016

880

Takeaways From the Bank of Japan’s Policy Decision

By WSJ Staff

The Bank of Japan disappointed investors with its limited expansion of monetary stimulus Friday. Here are five takeaways from the central bank’s policy decision.

(more…)

Banks, Deals, Fintech news, Global trends, Hotnews, InspirAsia, Japan

July 29, 2016

683

Monese, the UK banking app for immigrants and expats, finally lands on iOS

By Steve O’Hear for Techcrunch.com

For all the hype around fintech, not least in London, Monese is a startup that has pragmatism at its heart. It’s not trying to be an actual bank — in the technical, banking license sense — but does enable immigrants and expats, who might otherwise find it hard to open a bank account outside of their home country, to access core banking services. (more…)

Banks, Fintech news, Global trends, Hotnews

July 29, 2016

Counting down to the bank of Facebook

By Lionel Laurent for Bloomberg

Digital banking start-ups, the shiny new thing to keep sluggish and problem-laden incumbents on their toes, have yet to make a big noise in European finance. They’re too small to threaten existing players’ huge balance sheets, risk-averse customers and high regulatory barriers to entry. (more…)

Banks, Hotnews

July 29, 2016

657

Kookmin Bank and Circle Sign Memorandum of Understanding

Signing such a memorandum of understanding is a big deal for Circle. Kookmin Bank is a member of the South Korean KP Financial Group, and serves over half of Korea’s population
(more…)

Banks, Deals, Fintech news, Global trends

July 28, 2016

769

Paidy lands $15M Series B to simplify buying online in Japan

By Jon Russel for Techcrunch.com

Paidy, a fintech company that makes it easier to buy online in Japan, has closed a $15 million Series B to grow its userbase and invest in new financial products. (more…)

Banks, Deals, Fintech news, Global trends

July 28, 2016

Citigroup, HSBC Jettison Customers as Era of Global Empires Ends

By Yalman Onaran for Bloomberg
How does a company lose 69 million customers? Just ask Citigroup Inc. (more…)

Banks, Fintech news, Global trends, Government activities, Hotnews

July 28, 2016

901

Fintech threat! Alipay hit $100b in less than a year with zero branches, DBS took 50 years to get...

Ny Joji Phillips for Dealstreet Asia

July 27, 2016:   It has been more than a year since the man who runs America’s biggest bank had warned that Silicon Valley was coming to eat Wall Street’s lunch. (more…)

Banks, Fintech news, Global trends

July 28, 2016

692

Rocket Internet to Develop Banking Services With FinTech Group

By FRIEDRICH GEIGER for WSJ

BERLIN— FinTech Group AG said Tuesday it would create digital banking services in Europe together with Rocket Internet SE. (more…)

Banks, Fintech news, Global trends, InspirAsia

July 27, 2016

Reserve Bank Of India Mobilizes Blockchain & Fintech Initiatives

By Elliot Maras for CCN

In response to the challenges posed by technology, the Reserve Bank of India (RBI) has enacted initiatives to address cybercrime as well as the disruptions caused by the emerging fintech sector, including blockchain technology. (more…)

Banks, India, InspirAsia

July 27, 2016

717

Can Blockchain Fix Banking?

By Jon Markman for Forbes

A pair of ex-Google employees believe their version of Blockchain can fix banking. That fix is long overdue, since banking is suffering a real crisis at this time. (more…)

Banks, Fintech news, Global trends

July 26, 2016

Chain’s Adam Ludwin On Who Is Best Poised To Benefit From Blockchain Technology

By Laura Shin for Forbes

From the beginning, one of the defining characteristics of Bitcoin has been its decentralized nature. (more…)

Banks, Blockchain, Cryptocurrencies

July 26, 2016

588

NatWest and RBS may charge firms to hold deposits

By BBC

NatWest and Royal Bank of Scotland (RBS) have warned businesses they may have to charge them to accept deposits due to low interest rates. (more…)

Analytics, Banks

July 26, 2016

Yahoo-Verizon deal said to be near

by Cristina Alesci and Seth Fiegerman for CCN

Yahoo’s days as an independent company may be nearing an end. (more…)

Banks, Deals, Fintech news, Global trends

July 25, 2016

Verizon to End Yahoo Survival Fight With $4.8 Billion Deal

By Alex Sherman for Bloomberg

On Monday, Yahoo! Inc.’s years-long fight to survive as a standalone company will draw to a close. (more…)

Banks, Deals, Fintech news, Global trends

July 25, 2016

700

This Bank’s App Has 25 Million Active Users

By John Maxfield for Fool.com

Which bank has the most monthly active users of its mobile application? The answer is JPMorgan Chase, followed by Bank of America and Wells Fargo. For these banks, the widespread adoption of mobile banking couldn’t come soon enough. (more…)

Banks, Fintech news, Global trends, Hotnews

July 25, 2016

640

Banks switch from phone menus to robot advice

Few household chores are as infuriating as spending an age on the phone to complain to your bank, recover a lost password or answer some minor financial query. (more…)

Banks, Deals, Global trends, Hotnews, InspirAsia

July 25, 2016

Cloud Vendors, The Great Disruptors, Face Disruption From Blockchain

By Joe McKendrick  for Forbes

Over the past seven years or so, an emerging generation of cloud companies turned the tech industry on its head. Now, these cloud companies face their own disruption — courtesy of blockchain technology. Unless these providers develop offerings that leverage blockchain, they may see a new generation of blockchain-savvy vendors take their place.  (more…)

Banks, Blockchain, Cryptocurrencies

July 23, 2016

990

Lending Club Scandal Provokes Major UK ‘Peer-To-Peer’ Investigation

By Roger Aitken for Forbes

Campaign for Fair Finance (CFF) founder Dr Roger Gewolb has welcomed the intervention of the UK Financial Conduct Authority’s (FCA) new chief executive Andrew Bailey as an investigation gets underway into peer-to-peer (P2P) lending, a relatively new internet-based way of obtaining a loan. It comes amid concerns in the US and UK about how safe the sector is and protections afforded to consumers. (more…)

Analytics, Banks, p2p-payments, p2p/online lending

July 23, 2016

Fintech Startup N26 Is Awarded Full German Banking License

N26, a Berlin startup that offers financial services directly to consumers, said Thursday it’s received a German banking license that will let it offer a fuller range of products across Europe. (more…)

Banks, Deals, Fintech news, Global trends

July 23, 2016

A Bank Account That Pays Interest in a New Currency: Mobile Data

By Stefan Nicola for Bloomberg

In a world of near-zero interest rates, phone carrier Telefonica SA is starting a new mobile banking service that skips the cash and rewards loyal customers with a currency it has in abundance: data for smartphones. (more…)

Banks, Fintech news, Global trends

July 23, 2016

Britain and Korea form fintech investment partnership

By Jemima Kelly for Reuters

Britain and South Korea have established a “fintech bridge” intended to make it easier for both countries to invest in the burgeoning financial technology sector, the British Treasury said on Friday. (more…)

Banks, InspirAsia, Korea

July 23, 2016

Apple Pay says bonjour to France and nei ho to Hong Kong

By Lance Whitney for Cnet

The mobile payments service is now available in nine countries, with two new regions added in the past 24 hours.

(more…)

Banks, Deals, Fintech news, InspirAsia, Mobile payments/banking

July 20, 2016

737

After 3 weeks, Worldpay still fumbling millions of Etsy transactions

By John Mannes for Techcrunch.com

Etsy users had another bad week as payment processor Worldpay continues to cause problems. Late last week, some Etsy users began reporting that they had experienced duplicate charges. The forum on Etsy for duplicate charges is approaching one thousand posts. (more…)

Analytics, Banks, Global trends

July 20, 2016

Santander Doubles Fintech Investment Fund

BY Tanya Macheel for the American Banker

Santander Group is throwing another $100 million into its fintech venture investment fund, Santander InnoVentures. (more…)

Banks, Deals, Global trends

July 20, 2016

662

Can Blockchains Disrupt the Internet’s Monopolies?

By Brady Dale for the Observer 

A German journalist argues at TEDxHamburg that decentralized databases could deliver on the internet’s unmet promise (more…)

Analytics, Banks, Fintech news, Global trends, Hotnews

July 20, 2016

702

What’s Fintech? Nasdaq and KBW Offer an Answer With a New Index

By Telis Demos for WSJ

Investment bank Keefe, Bruyette & Woods and exchange operator offer KBW Nasdaq Financial Technology Index

(more…)

Analytics, Banks, Fintech news, Global trends, Hotnews

July 20, 2016

Online Marketplace Lending — Recently Misunderstood?

By Nav Athwal for Forbes

Recent news reports would have investors believe that the entire online lending sector is in trouble – when in fact, default rates remain largely in line with expectations and securitizations of consumer and student loans are on the upswing. And while many reports paint the entire online sector with a single brush, asset-based lending (such as collateralized real estate loans) is a different animal from consumer credit lending — a key distinction for investors. (more…)

Banks, Global trends, InspirAsia, Mobile payments/banking, p2p/online lending

July 19, 2016

643

Baidu invests in ZestFinance to develop search-powered credit scoring for China

By Jon Russel for Techcrunch.com

Baidu has made its second investment in a U.S. fintech company inside a month after it put an undisclosed sum of money into ZestFinance, a big data firm specializing in credit scoring. Baidu, which operates China’s dominant search platform, took part in a $60 million round for payments firm Circle in June. (more…)

Banks, China, Deals, Fintech news, Government activities, Hotnews, InspirAsia, SME

July 19, 2016