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The Future Of Banking
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REPORT
High-performing institutions have, on average, 82% of their checking account holders actively using their online banking platforms. That’s 17% higher than the middle-of-the-pack institutions and 23% higher than the low performers.
?? Read this?Cornerstone?FinTech report by?Ron Shevlin?and?Elizabeth Gujral?here
REPORT
Banking-as-a-Service:?How it Can Catalyze Financial Inclusion.
?? Check the whole?CGAP?report by?Gcinisizwe Mdluli,?Ivo Jeník, and?Peter Zetterli?here
REPORT
"From Traditional Banking to Invisible Finance"
The times are changing in the Financial Services industry. We can already see the first signs of an upcoming impact that will be orders of magnitude bigger than anything before.
?? Read the full report by?Michael Zwiefler?and?Alexandra Rockermeier?here
?? NEWS HIGHLIGHT
Revolut?was fined €70,000 for failing to submit audited annual financial statements to the?Bank of Lithuania. The Central Bank of Lithuania?said that?Revolut?also failed to follow rules regarding the handling of customer complaints.
?? Read the whole?Silicon republic?article by?Vish Gain?here
??INSIGHTS
Do you know about the three types of open banking APIs? Each has its own purposes and attributes.
?? Check this insight by?Klarna?Kosma?here
?? ARTICLE
Brazil’s?Nubank?has its sights set on disrupting Latin America’s financial services. Since its founding in 2013, the challenger bank has grown its user base rapidly.
?? Read the full article by?CB Insights?here
?? ?? BLOG
A fascinating trend has happened in FinTech in recent years, where non-financial companies are delivering financial services.?Historically, cards were issued by your bank. Today, cards are now delivered to you by neobanks such as?Cash?App,?Chime, or?Varo.
?? Read the full article by?Jonathan Ching?here
领英推荐
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? DIGITAL BANKING HIGHLIGHTS
?? The top tech trends poised to reshape industries in 2023. Link?here
???Twig?is further expanding into mainland Europe with the acquisition of?Vybe.?Link?here
???Axis Bank?partnered with?OPEN?to launch a fully digital current business account proposition. Link?here
???Yes Bank?partnered with banking-as-a-service startup?Falcon?to improve the banking experience of its customers. Link?here
?? REGIONAL HIGHLIGHTS
UK ????
Zopa?Bank?hit ￡3bn of deposits, according to an update from the company. Link?here
Starling Bank?expects to quadruple profits this year, it picked up 520,000 small business accounts in the SME market, representing an 8.9% market share. Link?here
EUROPE ????
Denmark's transition away from cash has seen the country record its first-ever year in which it experienced zero bank robberies. Link?here
Trade?Republic′s investors?will now receive 2 percent interest on their cash balances, without having to pay or subscribe. Link?here
ASIA
HDFC?Bank?is partnering with?Microsoft?in the next phase of its digital transformation journey and unlocking business value by transforming the application portfolio. Link?here
Yes Bank?turned to technology firm?Microsoft?to?transform the mobile banking experience of its customers. Link?here
Jupiter?reportedly snared INR 25 crore in debt from?Alteria?Capital. Link?here
Next Commercial Bank?went live on?Temenos?core banking platform, opening to customers in 2022. Link?here
MIDDLE EAST
Flat6Labs?and?Wio Bank?signed a Memorandum of Understanding to streamline SME-centric banking services. Link?here
MOVERS AND SHAKERS
Backbase?announced the appointment of?Mark Appel?as Chief Marketing Officer. Link?here
Stephen?Grainger?is becoming the new?Swift?Chief Executive for the Americas & UK Region. Link?here
The Clearing House?appointed?David?Watson?as its new president and CEO beginning Feb. 1. Link?here
Moonstone Bank?chief legal officer?Joseph?Vincent?left the financial firm, after being with the bank for just eight months. Link?here
Foong Chee Mun?announced that he will be stepping down as the Chief Technology Officer of?MoneyLion. Link?here
The head of?Goldman Sachs Group Inc's?direct-to-consumer unit,?Swati Bhatia, is stepping down from the role. Link?here