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The Future Of Banking
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REPORT
In 2022, G20 countries sent nearly $212 billion in remittances.
But nearly $11.6 billion was lost to fees along the way. The reason remittance prices remain high is the lack of transparency. Today, providers can tell consumers their transfers are “free”, include “0% commission” or cost just a low fixed fee of $5. In reality, however, the biggest cost is hidden in a terrible exchange rate.
?? Read the full report by Wise here
REPORT
Check out this amazing FinTech report: “The UX Playbook for Finance” with some great case studies.
?? Read the full UX Playbook for Finance report here
?? NEWS HIGHLIGHT
Through its FTX Ventures unit, the crypto firm in March invested $100 million in Dave, a FinTech company that had gone public two months earlier through a special purpose acquisition company.?
FTX Ventures was described as a $2 billion venture fund, in its press release with Dave.
Dave CEO Jason Wilk told CNBC that FTX’s investment in Dave is already scheduled to be repaid, with interest, by 2026.?
?? Read the full CNBC article here
?? ARTICLE
About a year ago, Nubank?debuted on the New York Stock Exchange and wrote a new chapter in Latin America's startup ecosystem history.
The digital bank not only raised US$ 2,8B, but the IPO was also the largest dually-listed IPO globally since 2012, being the first IPO in the US with a simultaneous listing in Brazil.?Fede Sandler had the opportunity to be a part of the team leading Nubank's IPO, as the company's Investor Relations Officer.?
?? Read the whole Latitud article here
??INSIGHTS
Improved digital account opening must be a top priority for 2023.
More than ever, consumers expect to finish the entire process on their smartphones, in a matter of minutes.
?? Read the whole The Financial Brand article by Jim Marous here
领英推荐
?? ANALYSIS
Greenlights 2022 year in review.
Greenlight kids and teens showed up in big ways — and we’re beaming with pride.
?? Read the full blog post with more stats and figures here
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? DIGITAL BANKING HIGHLIGHTS
?? The Central Bank of the Republic of Türkey announced that the digital lira completed the first phase of the payment test. Link here
?? The fledgling newcomers in Singapore seem to have a much harder time than expected. Link here
?? ADIB launched the region's first tokenized, contactless payment methods through the options of clasp and ring "ADIB PAY". Link here
?? REGIONAL HIGHLIGHTS
UK ????
HSBC filed trademark applications with the United States Patent and Trademark Office for a wide range of digital currency products and services. Link here
Revolut's users complain about scams more than double since 2020. Link here
ASIA
Nabil Bank Limited launched nBank as Nepal’s first neo-bank, by completely revamping its mobile banking app. Link here
AUSTRALIA ????
Macquarie and ING revealed that they will consider potential borrowers’ use of BNPL services on mortgage and personal loan applications in the New Year. Link here
MIDDLE EAST
ADIB launched the region's first tokenized, contactless payment methods through the options of clasp and ring "ADIB PAY" in partnership with token enablement service providers Tappy Technologies and Visa. Link here
MOVERS AND SHAKERS
CFO and temporary Head of Operations Jan Kemper will leave N26 at the end of January. Link here