Video: Top fintech stories this week – 11 September 2020
FinTech Futures’ weekly news round-up.
Banking
Citi appoints Jane Fraser as new CEO
Fraser will be the first woman to lead a bulge bracket bank.
Federal Reserve demands clarity on US banks’ diversity efforts
The Fed is working with other financial regulators to boost responsiveness.
JP Morgan fires staff for COVID-19 relief funds fraud
The largest bank in US clamps down on suspicious staff activity.
White paper: how millennials & gen Z can power growth for financial institutions
Millennials (25-39 years old) and adult Gen Z-ers (18-24) represent over $3 trillion in spend.
IDC Snapshot: Establishing operational resilience to achieve customer excellence
The ability to simplify & streamline tech supporting important business services, leading to better customer outcomes.
FIS claims early cloud investment prevented COVID-19 disruption
A number of US banks suffered downtime in April due to COVID-19 stimulus cheques.
Buffet sells another $2.5bn in Wells Fargo shares
The 136 million shares Berkshire owns are worth less than $3.3bn.
US Department of Justice mulls changes to bank merger legislation
Any amendments would be the first for 25 years.
Banking Technology September 2020 issue out now
Tipping point: Google vs Oracle showdown.
Cloud: the new frontier in banking
Demystifying the move to the cloud is the first step to becoming more agile.
To win the battle of banking, you need a digital war room
Here, banks can get visibility into every single process in their business as they actually behave.
What the Fintech? Episode 13 | Commerce in the wake of COVID-19
Travis Skelly tells FinTech Futures all about how Citi Ventures evaluates ecommerce companies.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
RTGS Global kicks into gear to disrupt correspondent banking
RTGS has built its system on Microsoft Azure.
Impact of COVID-19 on M&A activity in the fintech space
The market is pricing a more positive outlook for banks globally.
The time for reskilling is now: how to go about it in a post-pandemic world
We have just six months to prepare for the new work environment – let’s be strategic about our upskilling options.
Report: The total economic impact of Appway Onboarding for wealth management
Increased revenues and improved efficiency for internationally operating wealth management firms and private banks.
Sterling National Bank picks Cashfac for back office tech
The bank is deploying Cashfac’s VBT system in the cloud.
First Bancorp completes $1.1bn acquisition of Santander Puerto Rico
The merger is expected to complete in Q2 2021.
Risky business
Everyone will have a part to play, but the risk teams will set the tone for what comes next.
NTT Ltd’s 2020 Global Customer Experience Benchmarking Report: the connected customer – delivering an effortless experience
What key business outcomes to focus on to provide a seamless and effortless CX journey.
Varo Bank goes live on Temenos Transact core banking system
New US bank prepares for post-launch life with Temenos.
FinovateFall Digital: Delivering concrete ROI during unprecedented times
The future of finance is digital. Free tickets to FinovateFall available!
White paper: Next-gen virtual hardware security module (vHSM)
Noted cryptographer and Unbound’s co-founder/CEO Prof. Yehuda Lindell explores virtual HSMs, at length.
YOU are the first line of your own defense for fraud prevention
Be vigilant online! You are your first line of defense against fraud.
How banks can balance UX and security amid a pandemic
How face-based biometrics and AI can deliver smooth digital onboarding and stamp out fraud.
Merger creates largest Black-owned US bank
City First Bank in Washington and Broadway Federal Bank in Los Angeles are merging.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
1st United Credit Union picks Symitar’s Episys system
The credit union will run its core through Jack Henry’s private cloud environment.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
Worldremit acquires fellow remittance firm Sendwave
Sendwave has a presence in East and West Africa.
What the Fintech? Episode 12 | Transformers: more than meets the AI
Matt Sattler, head of HSBC’s innovation labs, reveals what it takes to secure a deal with the bank.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Creating a truly cashless society
Why we need open banking to get payments networks up to scratch.
White paper: Data integrity in an uncertain world – how to achieve operational resilience
How automating your data management processes can help reduce costs and eliminate the potential for human error.
Goldman Sachs & Barclays among bidders for GM’s credit card business
GM’s credit card business has about $3 billion in outstanding balances.
Scotiabank pays over $127m for commodities price manipulation
It also faced charges of compliance and supervision failures.
Wildfire Credit Union picks Backbase tech
The Michigan-based firm plans to boost its digital footprint.
Embedded finance: a game-changing opportunity for incumbents
Embedded finance offers a new, very large addressable market opportunity worth over $7 trillion in ten years’ time.
