In this week’s PeerIQ Industry Update they cover the slowing growth rate of consumer credit which points to consumers being...
On the second day of the Fintech Nexus USA conference, Nubank's David Vélez recounted in direct terms the multi-year overnight success.
Artificial intelligence has been a hot term in finance the last few years and now global banks are making it...
Capital One’s chatbot Eno just turned one recently and the bank talked about what they learned this past weekend at SXSW; Carla Saavedra Kochalski, director of conversational AI products, tells TearSheet “We saw there was a huge need to build something smarter and more conversational, not only for those types of experiences but to allow customer service through texting.”; the technology is still limited and in most cases customers still interact on a simple basis like asking for an account balance or approving a questionable transaction. Source.
Capital One spent 81 percent more on marketing in Q4 2018 than it did in Q4 2017 and Discover’s marketing...
A new survey by Cornerstone Advisors examined six questions about consumers primary financial institution and found some interesting trends amongst...
Forbes partnered with market research firm Statista to measure the best banks in more than 20 countries by surveying more...
Oliver Hughes is the CEO of Tinkoff Group, one of the world’s most successful digital banking groups with over 10 million customers. This is one our most interesting conversation to date, full of fantastic operating advice.
Tinkoff is publicly listed with a $3.8 billion market capitalization, which brings clarity to its operating model in a time when many noteworthy consumer digital banks are pursuing customer acquisition at the expense of profitability.
Oliver has led Tinkoff through three financial crises, and brings experience and perspective to the current COVID crisis. This is a fascinating discussion about unit economics in digital banking and winning business models with a CEO with thirteen years of experience in this space.
Capital One recently suffered a data breach resulting from poor security practices that exposed 100 million credit card applications and accounts. They expect the breach to cost the company $150 million. Two years back, Equifax lost 140 million identities, again from poor security practices. At the time, I said that according to GDPR this should cost them $150 million. They have since settled for about $600 million -- though some of that seems to be in-kind services coverage like free credit monitoring (lol!). Separately, Facebook has settled for a $5 billion fine associated with the Cambridge Analytica privacy "breach".
Nigel Morris previously co-founded and served as president and COO of Capital One; Morris is now an VC at QED...