The first big fintech event of the year, Fintech Meetup, took place March 3-6 at The Venetian in Las Vegas. Here are some thoughts from the event.
It was a big year for bank/fintech M&A as many of the large financial firms that had been sitting on...
Ram Ahluwalia believes there are plenty of layers to peel off the FTX onion, but the reasons for some recent actions may be straightforward.
After throwing lifelines to troubled digital currency exchanges BlockFi and Voyager Digital, Sam Bankman-Fried, the 30-year-old billionaire founder of FTX, warns that many crypto exchanges will soon fail.
The student focused digital bank, BankMobile, has created an online magazine entitled Paradigm Money; the effort is an attempt by the bank to build brand awareness and help current customers manage their money; the site has news, opinion, interviews and advice for customers; Ash Exantus, BankMobile’s director of financial education, tells TearSheet “We wanted to create a site that was independent from the bank that’s not promoting our products or services, but as a place other people can go for financial news and financial literacy.” Source.
Digital bank BankMobile has partnered with LendKey to launch a new student loan refinancing program; LendKey is a lending-as-a-service platform...
Writing a piece for Crowdfund Insider BankMobile’s Co-Founder, President and Chief Strategy Officer Luvleen Sidhu talks through the current banking makeover; new technologies like artificial intelligence and blockchain are becoming more prevalent; competition in the digital banking space is beginning to increase as banks look to close branches and move more focus online; banks are currently upgrading their cybersecurity defenses in the wake of the recent Equifax breach; these changes and more are happening now as banks better understand their customers and look to become more efficient. Source.
Banks have long relied on face to face or voice interactions with their customers; these are often easy to measure,...
As more and more countries begin implementing biometric technology at their borders, banks are also beginning to use fingerprint analysis and retina scans to verify identities; Canada has used their NEXUS program to track travelers and India has used the Aadhaar program to identify their population; banks have begun testing out these technologies to see what fits their customer best: fingerprints, retina or facial recognition; with the new technology still comes age old issues of theft; stealing a fingerprint then changing it can happen just like the changing of a password; banks are still trying to figure out how to address the new technology and learning lessons from border patrol is one way for them to ensure the best solution. Source
One of the trickiest circumstances for banks and credit unions during the pandemic was how to get high speed internet...