You may not 'get' Bitcoin, Ether, Litecoin or their cousins yet, but three financial institutions' experiences suggests there's potential.
Trade groups that work on behalf of banks and credit unions warned the Office of the Comptroller of the Currency...
Banks and fintech firms are in competition over payments systems and each thinks real-time payments should be run differently; Bank...
At an event held by the CFPB banks, fintechs, regulators and consumer advocates discussed the data sharing experience; screen scraping...
With more of financial serivces becoming digital by the minute fintech firms and banks need to keep top talent on...
Some fintech companies have stated that banks are not following through on the data sharing guidance set forth by the CFPB; banks on the other hand have said they are following through and sharing data with fintechs; the biggest complaint thus far is that banks are being selective and not granting access widely; banks have more complicated systems and multiple levels of compliance which could end a relationship before it begins; some ideas for better cooperation are for banks to design a set of standards as banks in the UK have done. Source.
While most companies are looking for further deregulation they are increasingly looking towards regulators for more clarity on data sharing;...
There has been a number of news items in recent weeks about how difficult it is for banks and fintech companies to work together; banks tend to be more intrusive and fintechs come with a significant culture shift; one thing has become clear and that is the benefits outweigh the hassle; banks and fintech companies benefit greatly from partnering and customers clearly when they do. Source.
In an interview with Tearsheet Bradley Leimer, managing director and head of fintech strategy at Explorer Advisor & Capital says companies are underestimating content; most VC’s focus on who can be the next Robinhood or TransferWise when there is plenty of opportunities in the market; companies can use customer data to better educate and better target consumers for a specific financial product; there are a lot of interesting companies in the market who can find their niche to perform and offer consumers more choose. Source.
UK based startups and big banks have been pushing their online investment advisors through ads as they try to gain new clients; after seeing some of the startups have early success big banks started to get into the market this past year; the upcoming ISA deadline on April 5th has companies pushing their marketing spend in recent months with hopes it will pay off in new customers and cash. Source.