Finserv Reading - Week ending August 7, 2022

Banking

Community banks face mounting pressure to move away from screen scraping but APIs are far from perfect. Should we panic?

Marcus by Goldman Sachs' CFO Liz Ewing on consumer finance amid rising inflation

Digital bank Grasshopper secures $30.4 million to drive growth

Savana raises a fresh round of capital to digitize banks' services

How enhanced personalization of bank websites propels growth

How digital identity can 'Amazonify' the financial services industry

How banks can reconnect when people ignore their digital marketing

Don't forget your bank legacy as you build your future

Valley Bank on preventing social engineering scams

How data, AI and machine learning supercharge personalization for banks

Envisioning the future of retail banking

SoFi is starting to see the benefits from becoming a bank

Bank branch talent beyond the transaction

Banking as a Service (BaaS): The missing fuel to supercharge growth

How?Capital One improves visibility for Snowflake costs

CFPB is investigating Goldman Sachs' credit card business

Equifax sent lenders inaccurate credit scores on millions of consumers

The death of the mobile banking app


Wall Street??

Wall Street sentiment survey might have called the stock market's turn

Jobs data threatens Wall Street's recession trade

Wall Street braces for bonus whiplash

In historic downturn, bond market players turn to powerful new tools


Economy?

CEOs ditch the warm talk as economy shows signs that winter is coming

Fed's favorite recession indicator flashes warning sign

All that you need to know about the global economy?

The Bank of England makes biggest interest rate increase in 27 years?

Global cenbanks lift rates by nearly 1200 bps in July


Asset Management

Pimco hit by GBP 29 billion outflows as bond market turns

Investors grow frustrated with hedge funds after historic loses

The chaos inside the Kuwait Investment Authority

Asset management - Compensation takes a hit and headcount could be next

Prices are dropping as investors sell private equity at a record pace

Macro hedge fund stars enjoy market volatility


Wealth Management??

Betterment shifts from robo-advice as competition heats up

Robinhood lays off 23% of staff

Don't mistake today's retail investor activity for 2021's meme mania

Lessons from the 2021 world wealth boom

Fidelity says that advisors want help with efficiency, growth and building a sustainable business


Insurance

Six steps driving digital transformation in insurance

Chubb: Transforming the world's insurance industry

Geico closes all California locations - goes digital

The trajectory of change in insurance: Four ways the industry must evolve

Inefficient claims handling could put $170 billion at risk


Real Estate??

Rocket Mortgage's profit drops dramatically in Q2 2022

Santader's Tim Wennes: A 'shakeout' among mortgage lenders is coming

Zillow reopens the door to iBuying

6 reasons to watch the digital mortgage space

Santander partners with Rocket Mortgage to provide digital home loan experience

Black Knight reports slowing organic growth


Payments?

Credit card balances jump 13% as inflation outpaces wage growth

Banks spend big to boost credit card sign-ups, defying recession fears

Attentive launches text-to-buy with Shopify shop-pay

'Buy now, pay later' for business is a growing field

Global Payments to acquire EVO in $4 billion deal


Venture Capital / Private Equity

Softbank emerges as a big loser of tech downturn. Again.

a16z now wants to manage the money of the entrepreneurs it backs

Private equity pulse: 5 takeaways from 2Q 2022

How the private equity lobby won - again

Private equity doesn't want you to read this


AI / ML

How financial services operators are dialing up conversational AI to catch out fraudsters

BlenderBot AI: An AI chatbot that improves through conversation

You need to stop doing this on your AI projects

Traditionally a late adopter of technology, the insurance industry is embracing AI


Bigtech?

Oracle lays off hundreds of employees

As top executives flee Silicon Valley, Meta becomes truly virtual

Silicon Valley lurches between deep cuts and bold spending

TikTok's poison pill


Fintech??

Fintech has taken a hit, which means now is the time to invest and build

Q3 outlook forecasts cloudy days ahead for fintech M&A

GreenDot expects to benefits from the fintech crunch

Fintech views: Bubbles are not the problem - it's what side you're on that matters

How fintech is opening the door for alternative retirement investments

Plans for fintech company Savana's $45 million Series A


Blockchain / Crypto?

Plaid amps up crypto portability by adding leading exchanges to its network

Japan's central bank shelves plans for CBDC due to a lack of public interest

Coinbase's rapid rise left it exposed in crypto's collapse

Coinbase takes fights with customers to Supreme Court

Carbon-credit registry proposes rules for crypto tokens

Brevan Howard subsidiary raises $1 billion for crypto investments amid bear market

Why crypto's market cap never booms, or busts, as much as you think

Michael Saylor bet billions on bitcoin and lost

Solana wallets 'drained' in blow to crypto network

Robinhood's crypto unit fined $30 million by New York's top financial regulator

The crypto market crashed. They're still buying bitcoin.

The gap between the crypto industry and regulators has never been wider

The price for crypto's recovery: A new narrative


Regulation / Compliance??

Crypto fight on Capitol Hill increasingly favors CFTC

The SEC's cryptocurrency confusion

US weighs new rules for regional banks, complicating merger plans

Senate plan would put bitcoin, ether under commodity regulator's watch

Unlocking consumer bank data stokes Chopra's 'underworld' fears


Corporate Venture / Innovation??

Restoring shareholder confidence when your stock is down

Valley National Bank invests $25 million in an early stage fintech-oriented Israeli VC

Are corporate VC 'tourists' pulling back amid the downturn?

'I describe myself as an infinitely curious learner': Global Tech Innovation Director at P&G

Fast innovation for new integrations, microservices and APIs


Personal Development / Leadership?

This is the best career decision you can possibly make

How you do anything is how you do everything

What are your rules for life? These 11 expressions from ancient history might help

Plan for failure: Being consistent is not the same as being perfect

Lessons on living a meaningful life from Nichelle Nichols

44 important truths to remember while creating a bigger future

A simple way to introduce yourself

How to win against your favorite distractions


Podcasts / Videos??

Where do banks fit into the metaverse?

Digitizing commercial banking with Q2 and TD Bank

David Rubenstein: Interview with T-Mobile CEO, Mike Sievert

Howard Marks, Co-Founder, Oaktree Capital: Comments on Warren Buffet, writing?memos, investing psychology and crypto

How will PSD3 shape the future of open banking


Speeches / Communications

Robinhood - Q2 Earnings Presentation

First Eagle Investments - Value as a philosophy

Patrick Harker, President and CEO of the Fed Res of Philadelphia: "Fintech in a changing world"


Research Reports??

Accenture: Why AI in insurance claims and underwriting

CFA Institute: Cryptoassets - A guide to bitcoin, blockchain, and cryptocurrency for the investment professional?

BIS: Entity-based vs activity-based regulation - a framework and applications to traditional financial firms and big techs

McK: Global platform transformation - An interview with Allianz's Veit Stutz

McK: Three big moves that can decide a financial institution's future in the cloud

CapGemini: Investing in Trust - Sustainable strategies for retail banks

Beyond the balance sheet model of banking

Fintech lending under austerity

ECB: Towards the holy grail of cross-border payments?

Smart contracts: Myths and implications for economic and financial regulation

Central bank digital currencies: Will banks survive?

Deloitte: State-sponsored cryptocurrency - Adapting the best of bitcoin's innovation to the payments ecosystem

NYDFS enforcement action against Robinhood

The rise of embedded finance

FTPartners: Global Fintech Report - August 2022

Broadridge: Fast-tracking digital transformation through next-gen technologies

ReedSmith: Guide to the metaverse

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