There has been talk about one the big tech firms becoming a bank and potentially forever changing financial services; event without a banking license big tech firms are making noise in the finance market; Amazon and PayPal have been extending billions in loans and banks have started testing technologies like Alexa; the tech firms have also amassed a trove of data that could end up being as important as banking data; as banks become more digitized we will begin seeing a further mixing of interests to help offer the best experience as possible to the customer. Source.
Grayscale is meeting with local partners to discuss entering the European market, CEO Michael Sonnenshein said.
Flow Networks helps connect the world's biggest payment systems to the consumer at the moment of payment. They use that period to connect with customers via gamification in ways that build retention.
Banks have begun to implement new technologies to help verify who the customer is, though the new GDPR rules in Europe could complicate usage; the General Data Protection Regulation, which will restrict how companies collect and store data, allows for customers to ask for their data to be removed and non compliance results in huge fines; banks have started to slowly add new technology but they are still figuring out where to limit storage; new companies are trying to sell services into bank that allow them to collect information but store it in a certain way to be compliant; with new technology being developed so rapidly, governments need to ensure they keep up with innovation and clearly tell the market how to comply. Source.
While some big banks are starting to close a portion of their branches many more banks remain open as a...
After already making $150m from Nubank’s IPO.
I have no inside information of the breath of Apple’s POS plans, of course, but it seems to me that if you think this is about making cards a little easier to use at the farmer’s market, you are not paying attention.
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- InCompliance Update White Paper 2018
Embedded finance is experiencing supercharged adoption. Consumers may consider options in loyalty to brands.
PayitTM, NatWest’s multi award-winning open banking payments solution, hits a critical milestone processing £1 billion in payments.