Finserv Reading - Week ending June 18, 2023

Banking

Overdraft fees are dwindling, study finds

A new threat to financial stability lurks in the cloud

Goldman's cost-cutting accelerates as lean times persist

Goldman Sachs puts GreenSky up for sale

Regional banks face years of trouble

Banks alarmed at threat of EU crackdown on cross-border access

Goldman Sachs is at war with itself

Five strategies for driving profits in digital banking

Majority, a digital bank for US migrants, grabs $9.75 million amid expansion in Texas

Engagement is your ultimate goal, not customer experience

The impact of open banking apps on traditional banking models

The new world of banking apps: How neobanks can evolve

Our failing banks and the capital con game

Regional banks don't feel loved

A former Wall Street titan's new-age investment bank is flailing

BoA sees new clients soar at commercial bank amid regional woes


Wall Street

T+1?top of mind at Sifma Operations conference

Nasdaq shares slide 10% after acquisition of financial risk software group

Nasdaq accelerates its transformation as a leading technology provider to the global financial system

Forget what you think you know about exchange stocks

The seven companies driving the US stock market rally

US junk loan defaults surge as higher interest rates starts to bite

Howard Lutnick tilts at Chicago's flagship futures


Economy?

Companies rethink consultants as they fret about economic outlook

Wall Street firms up bets on US consumers

What an amusement park can teach us about central banks

US holds interest rates steady in first since 2022


Asset Management

Blackrock aims to triple fixed income ETF assets

Debate over 60/40 portfolio rolls on despite Blackrock stance

Blackrock's ambition: Become inseparable from asset management a

Morgan Stanley CEO sees deals in asset management

Asset management leaders remain upbeat despite a torrid 2022


Wealth Management??

Backbase buys digital wealth platform Nucoro

When SVB and First Republic collapsed, so did their employees investments

How to be the most innovative user of wealthtech

Why Charles Schwab became a financial supermarket

Fidelity pushes into European corporate lending as banks retreat


Insurance

What to do when the US becomes uninsurable

20 life insurance companies with the largest market share

London market seeing concrete returns from digital transformation investments - WTW

Dig-In 2023 panelists discuss insurance digital transformation

More insights from Dig-In 2023


Real Estate???

WeWork faces more turmoil after its CEO departs

Three reasons why lenders should stay focused on mortgage tech - even during a challenging market

Housing market has a 6% problem

The CEO who sacked 900 employees in a Zoom call, cuts 4,000 more jobs

Why economists say its a near certainty that housing inflation will soon fall


Payments?

Klarna looking for non-BNPL features to maintain growth

Interchange bill 'cynical manipulation' of payments system

Mastercard study finds digital payments are spreading in Latin America

The rise of domestic card schemes - taking back control of payments

How B2B payment service providers can get better mindshare amongst businesses


Venture Capital / Private Equity

Global fintech funding - Q1 2023

Tiger Global falling short in latest fundraising push

TA Associates bucks private equity trend with $16.5 billion fundraising

Insight Partners cuts size of $20 billion fund amid 'great reset in tech'

Tech VCs: blockchain shock bounces funds towards AI

Calpers plan multibillion-dollar push into venture capital


AI / ML

Generative AI is the Attila the Hun that's going to end the banking system as we know it

Computer-driven trading firms fret over risks AI poses to their profits

The perils of open-source AI

Blackrock's Larry Fink predicts AI could solve productivity crisis

Wall Street banks are doubling down on AI

Can AI revolutionize payment security


ESG / Climate Change

How Africa can change the world

How commercial banks can start their journey to 'net zero'

Conquering the ESG data challenge

A wine vintage takes a break from climate change

UN chief attacks oil and gas industry 'planet wreckers' over fossil fuel expansion

Penguins in your fridge? These 7 year olds have climate solutions.

Time is running out for the UAE to save its COP28

Big companies on verge of new market for clean-energy tax credits

Chicago startups set for $10 million climate change investment via 2c2i scheme

Swedish fintech ClimateView nets EUR14 million to propel climate finance revolution

Why the US electric grid isn't ready for the energy transition

Canadian fires signal new frontier in climate change

Companies quiet diversity and sustainability talk amid culture war boycotts

Why America isn't ready for the EV takeover

European banks urged to seize commercial advantage in climate innovation

Gridlock: How a lack of power lines will delay the age of renewables

CSAA, Aon, and Ideo sponsor climate resiliency challenge


Bigtech?

The hidden risks of BaaS and embedded finance: inside Apple's struggle

Twitter to focus on video, commerce in business revamp

Subsidies from big tech should be the last option for EU telcos, Meta Platform says

Europe comes for big tech, again

Big tech's investing dilemmas


Fintech??

Fintech's banking-as-a-service sector struggles

The Banker: Fintech Fortnightly

Citizens launches SMB loans with fintech partner

Financial infrastructure fintech Stripe Joins MACH Alliance


Blockchain / Crypto?

Binance reaches deal with government to avert US shutdown

Cryptofinance: Arrested development

Blackrock files for spot bitcoin ETF

Binance emergency fund dwindles as SEC takes aim at the crypto exchange

Andreessen Horowitz to open London office for crypto startups amid scrutiny in US

Is crypto dead?

Who gets to regulate crypto, anyway?

He went after crypto companies. Then someone came after him.

The secrets behind Gary Gensler's SEC strategy

Getting a crypto bill through Congress is only the first hurdle, policy expert says


Regulation / Compliance??

The case for compliance as a competitive advantage for banks

Laying the foundation for open banking in the US

Swipe fee legislation would save merchants and consumers $15 billion a year

SEC climate change disclosure rule expected in October 2023

SEC to weigh new artificial intelligence rules for brokerages


Corporate Venture / Innovation?????????????????????

What do innovation leaders do differently

Four steps to build the psychological safety that high-performing teams need today

Generating ideas: A process for breakthrough innovation

How to scale local innovations in big companies

Investing in growth through uncertainty


Personal Development / Leadership?

Research-backed tips scheduling your day

36 lessons on the way to 36 years old

All success is a lagging indicator

The secret to better habits in 2023

The myth of creative inspiration

Rome wasn't built in a day, but they were laying bricks every hour

On the slow productivity of John Wick

Two kinds of leaders every company should have and what it takes to develop them

The five new foundational qualities of effective leadership

Behind Elon Musk's management philosophy: First principles


Podcasts / Videos??

Mastering the market cycle: by Howard Marks

The David Rubenstein Show: Masayoshi Son

Adam Robinson: Positioning yourself for success

Can capital help solve climate change?

Simon Sinek reveals the game you never knew you were playing

a16z: AI will save the world with Marc Andreessen and Martin Casado


Speeches / Communications

Michael Hsu, OCC Acting Comptroller: "Ensuring the public's trust in banking and fair financial access for all"

Aaron Kaplan, Co-CEO of Prometheum: "The future of digital assets"


Research Reports??

BIS: Banks' cyber security

BIS: Project Rosalind - Building API prototypes for retail CBDC ecosystem innovation

OW: Why every company should strengthen its risk management

OW: Time to Transform

RMA/OW: Getting going - Accelerating Climate Risk Analytics

CapGemini: Open Innovation Report

PwC: Managing the risks of generative AI

Blackrock: Notes from the outlook forum

McK: The economic potential of generative AI - The next productivity frontier

IMF: Some lessons from Asian e-money schemes for the adoption of CBDC

Coller Capital: Global Private Equity Barometer - Summer of 2023

Why is CVC activity among US public firms sticky?

CIF: Strengthening disaster risk management in climate resilience action

ESG disclosure and firm performance: An asset pricing approach

The power of partnership: Unlocking business action on net zero

KPMG: Sustainability reporting in financial services

Asset pricing with disagreement on climate risks

Anticipating climate change across the United States

Fintech, investor sophistication, and financial portfolio choices

The emergence of the global fintech market

Is fintech a threat or a promise to banks?

WEF: Reimagining digital ID

Sustainability gatekeepers: ESG ratings and data providers

American Banker: State of Digital Banking 2023

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