Banks must shift their focus from being product-centric to customer-centric
True banking transformation starts with the customer, not the technology.
Innovation
Banking Tech Awards 2022 Winner: Car IQ – enabling secure, seamless vehicle payments
Targeting the $650bn market: Car IQ enables vehicles to transact securely with merchants and service providers.
US Federal Reserve sets up new specialist team to supervise crypto sector
The team will monitor the cryptosphere as regulators look to manage risk and promote innovation.
FinTech Futures: Top five stories of the week – 10 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Global paytech Worldline opens white-label metaverse shopping mall
Retailers, service providers and banks “can build up a presence in Web3”, using a modular design method.
Philippines’ Security Bank taps ACI Worldwide to modernise payments
ACI’s enterprise payments platform will modernise the bank’s payments infrastructure.
If you build it, the money will come
The BaaS companies that will succeed will be those with a strong growth strategy.
Tintra taps Temenos to power new bank for emerging markets
Tintra plans to link emerging market clients with global financial opportunities.
How to be human
The things you know are important really are. So don’t forget to do the right thing. And for the rest: be human.
US credit union Golden 1 taps AML RightSource to strengthen transaction monitoring
AML RightSource’s tech will automate Golden 1’s transaction monitoring investigations and reporting.
FinTech Futures Jobs: 10 inspiring women leaders who are blazing a trail in tech
Some of the most successful tech and fintech organisations around the world have women at their helm.
Aussie paytech Till Payments lands $46m Series D funding
The fresh funding comes just weeks after the firm’s decision in January to lay off 120 staff.
Introducing the PayTech Awards USA 2023
Nominations for the awards are open until 2 June 2023.
Wearable paytech Digiseq names Angela Davies as head of partnerships
Davies will use her expertise and connections to promote Digiseq services to banks, issuers and processors.
Nubank appoints former Meta crypto head David Marcus to board
Marcus previously spent seven years at Meta and co-created the firm’s cryptocurrency Diem (formerly Libra).
Blockchain trade finance firm Marco Polo reportedly enters insolvency
According to The Irish Times, the firm’s liabilities have outstripped its assets by €2.5 million ($2.6m).
ChatGPT and generative AI – what does banking have to do with it?
Ready or not, the generative AI genie is out of the bottle and there is no going back.
PayTech Awards nominations close in two weeks!
The deadline for nominations is Friday 17 March, so don’t leave it too late!
The B-word
I have never known a technology to divide opinion as much as blockchain.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Intesa Sanpaolo partners IBM to upgrade its IT infrastructure
Intesa Sanpaolo will utilise the IBM z16 platform to bolster its cybersecurity operations.
Aussie central bank reveals participants and use cases for CBDC pilot
The selected industry players will participate in use case proposals over the coming months, the central bank says.
MFS Africa partners Western Union to broaden financial inclusion
The service will see funds from across the globe move through payment rails operated by MFS Africa.
Transforming transformation
According to McKinsey, 70% of digital transformation projects fail. So what is going wrong?
BNPL giant Klarna posts £1bn loss for 2022
Despite the loss, the firm says it is edging towards profitability thanks to growth in its gross merchandise volume.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
I ain’t talkin’ to some junior
Some people seek to establish their assumptions as facts and resort to a telling off as a power move.
Swedish paytech Zimpler names Stefan Andersson as chief product officer
Andersson will join Zimpler’s leadership team and report directly to CEO Johan Strand.
Centre for Finance, Innovation and Technology launches to boost UK fintech
CFIT will bring together “coalitions of experts” across finance, technology, academia and policy.
Nationwide taps Board to upgrade financial planning capabilities
Board will “replace and transform” Nationwide’s financial planning processes and systems.
Climate tech firm Doconomy acquires financial wellbeing fintech Dreams
Doconomy will fold Dreams’ behavioural science platform into its environmental impact measurement tools.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
Trade financing platform Marco lands $200m credit facility, $8m equity
Marco says the combined funding will support its ambition to “close the $2 trillion global trade finance gap”.
What the FinTech? | S.4 Episode 3 | Generative AI in banking
In this episode, we’re joined by Miguel Navarro to discuss how generative AI could impact financial services.
MoonPay names former Coinbase exec Asiff Hirji as new president
According to Bloomberg, Hirji assumed the role earlier this month, joining from Figure Technologies.
Digital transformations: the case for change and why they fail
We need a more human-centric approach to transformational change.
Panamax expands global reach with Acute Informatics acquisition
Panamax’s CEO says the acquisition of India-based Acute is a “strategic move to expand our horizons”.
Klarna to start charging late payment fees in UK
Late-paying users will be hit with a £5 fee from 16 March, City AM reports.
Shawbrook Bank taps Pegasystems for automated underwriting solution
Pega claims its low-code platform will save Shawbrook underwriters 1,500 hours a month.
Northern Ireland renaissance: how US companies sparked Northern Ireland’s global fintech hub
Northern Ireland is the world’s top region for both new software development and fintech inward investment projects.
