John Gerspach, Chief Financial Officer of Citigroup stated at an investor conference they are building the foundation which will support the launch of a national digital consumer bank launch in the next three years; the bank currently has around 700 bank branches which is far fewer than the three biggest banks. Source
The appearance of Techreo is one of the latest examples of financial technology firms looking to acquire clients at the base of the pyramid.
Polly seeks to transform the mortgage industry with a data-driven capital markets ecosystem that provides value at every point in the process.
Leading bankers claim that consumers are gravitating towards big, stable institutions during the financial crisis, reversing a decade long trend;...
In the early days at Charles Schwab Corp. the company was seen as a discount broker for amateurs and was...
Chinese marketplace lender Hexindai has added a payments function to its mobile app; firm has partnered with China UnionPay for Quick Pass; QuickPass allows platform investors to use funds for payments at merchants in the China UnionPay network. Source
Writing an opinion piece in American Banker Jonah Crane, a fintech advisor, points out that the CFPB and other regulators need to keep a watchful eye on the data sharing guidance; the rules are currently non binding but offer the regulators a chance to use current oversight power to enforce egregious violations; ensuring a level playing field and working with industry players can help not only consumers but regulators better understand how data sharing can be done is the most beneficial way. Source.
On episode 51, I talk with Henry Yoshida of Rocket Dollar, who make it easy to unlock retirement savings and helps all follow their dreams. ...
BNP Paribas, France's largest bank, is doubling down on their investment in technology; the bank plans to invest 3 billion euros ($3.2 billion) over the next three years; the bank stated they want to "build the bank of the future by continuing to grow the businesses and implementing an ambitious program of digital transformation, new customer experience and cost savings"; the investment will be directed towards tech labs, company incubators and internal app development. Source
It’s mobile-centric, meaning they see credit cards living on mobile devices as pieces of code that can be delivered quickly to their customers. It operates from the cloud, allowing for scalability and removing the need for building new databases or buying new servers or hardware.