The Future of Banking newsletter powered by Marcel van Oost
The Future Of Banking
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REPORT
Key takeaways :
? While growing deposits topped the list of priorities for banks, leveraging data was the top priority for credit unions. Growing deposits also ranked as the most difficult priority to achieve.
? 79% of financial institutions (FIs) plan to increase their technology spend over the next two years; digital banking, fraud and security, and data analytics are the top three technology investments planned.
Despite the crypto winter, central bank digital currency (CBDC) development and experimentation continues to gain momentum .
In this preview INNOPAY highlights three key findings that have been observed since the last OBM update.
? Community development is driving differentiation in devex as open banking continues to evolve.
? Payment API's on the rise, while account API's remain stable but significant.
? EU Open Banking is still leading but US Open Banking is catching up.
This report serves as an invaluable guide to digital banks in APAC on current market dynamics from both supply and demand perspectives, offering valuable insights on achieving profitability through optimising client fulfilment across the end-to-end value chain.
?? NEWS HIGHLIGHT
Enfuce’s award-winning cloud-powered platform, APIs, exceptional technological delivery, and collaborative approach will help Kvika Bank transform Icelandic financial services.
?? SPONSORED CONTENT
At Klarna Kosma, we want to make accessing open banking solutions as smoooth as possible for our potential partners. So, we’ve brought everything you need to start plugging into the power of open banking together in one place .?
Whatever stage your business is at, whether it’s:
?? Still exploring the possibilities?
?? Wanting to play around with our products (for free)?
?? Looking for more support or guidance from our open banking experts
?? Fully ready to start developing and testing our API
It’s all here for you ??
?? INFOGRAPHIC
?? ARTICLE
Challenger banks hunt for acquisitions as rising interest rates reveal opportunities.
Nigel Terrington, chief executive of Paragon Bank, told City A.M. that they “continue to look for opportunities” having made four acquisitions in seven years.
?? ?? BLOG
BaaS can be offered by companies like Solaris, Finastra and Marqeta, whilst curators of the financial ecosystem are few and far between. Either way, it’s all about building what I call the Lego Bank.
??INSIGHTS
FXC Intelligence data shows remittances grew from around $420bn in 2010 to a projected $1.1tn in 2025.
?? PODCAST
In this podcast, Ali Niknam, the founder and CEO of bunq, spills the beans on the challenger bank’s plans for the year while also airing his views on current fintech news stories.
领英推荐
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? DIGITAL BANKING HIGHLIGHTS
?? Revolut chair Martin Gilbert holds talks with PRA as licence impasse drags on.
?? Mambu's CEO and co-founder Eugene Danilkis has resigned with immediate effect for "personal reasons".
?? REGIONAL HIGHLIGHTS
UK ????
Starling Bank enables abuse victims to 'hide' malicious payment references . Also Starling Bank introduces virtual cards for joint current accounts.
HSBC plans to expand Silicon Valley Bank globally.
Allica Bank and ClearBank team up to boost banking for UK SMEs . Allica Bank reports £2 billion in its savings accounts after strong start to 2023.
Finastra integrates with S&P Global Market Intelligence for corporate and syndicated lending.
EUROPE ????
Mastercard launches new open banking innovation in Europe to accelerate financial inclusion.
USA ????
Robinhood customers shift to high-yield deposits amid banking turmoil .
Payment apps like PayPal and Venmo might be convenient, but they’re not banks — and a federal financial services watchdog is worried that too many consumers are treating them as such .
Jifiti announced that they have signed an agreement to launch an embedded lending solution with FIS.
A new crypto banking system arises under the shadow of a regulatory crackdown .
LATAM
C6 plans to open its first "Carbon Offices", not traditional bank branches but spaces designed for comfort and security.
Nubank pulls first mass layoffs, branded as 'restructuring' . Nubank's “little boxes” onboard 1 million users in Mexico .
Mexico Fintech battle heats up as Ualá rolls out new account.
ASIA
JPMorgan to work with Indian banks on blockchain-based USD settlement platform .
Toss Bank, Kakao Pay to launch car installment payment comparison service .
AUSTRALIA ????
Australia’s Federal government says it will stop using cheques by 2028 and wind down the whole system by no later than 2030 .
MIDDLE EAST
Dubai Islamic Bank launches DIB ‘alt’, ultimate digital banking experience for its customers.
One Zero is to introduce a generative AI chatbot.
Bank Albilad initiates open banking services.
AFRICA
Awacash acquires microfinance banking license from CBN.
MOVERS AND SHAKERS
LHV Bank announces the resignation of Gary Sher.
Marc Cadieux has been appointed President of Silicon Valley Bank Commercial.
Anne Boden, the founder of Starling Bank stepped down as chief executive following a row with investors over a more than £1 billion (€1.17 billion) fall in the valuation of the digital lender.
Desenvolvimento de Pessoas e Equipes na Convergência RH
1 年Al? C6, já ouviram falar no envelhecimento da popula??o? Todos os seus clientes enxergam bem sem óculos? Eu n?o. Mas agora, toda vez que vou usar o cart?o de crédito ou débito, o app me pede para fazer um selfie! Ora, outro dia, numa pizzaria, ambiente escuro, óbvio que o app n?o aceitava porque n?o aceitava o selfie de jeito nenhum e eu só querendo pagar e ir embora. E mais, se ponho os óculos para ler as instru??es em corpo 10, o app rejeita. Se tiro os óculos, n?o enxergo as instru??es para fazer o exigido selfie. Tudo para pagar uma conta de merrecas! Sei que há um motivo de suposta "seguran?a", mas pombas: será que vou aplicar um golpe em mim mesmo para pagar uma conta de 150,00 com um cart?o roubado de mim mesmo com a minha própria senha ? N?o há nenhum adulto na sua sala de opera??es? Ou vida inteligente, n?o importa a idade? ??