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The Future Of Banking
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?? NEWS HIGHLIGHT
On Thursday, at the Greater Cleveland Food Bank Community Resource Center, volunteers outside a mobile banking unit were ready to?serve the community.
It's part of PNC's effort to make banking less complicated for underserved areas that don't have easy access to banks.?
"If they're under an unfortunate circumstance where they're not banked, they can come here, we can open up an account, we can issue a debit card and work with them to learn how to use the ATM to make a deposit right there," said Pat Pastore, regional president for PNC Bank Cleveland.
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?? INTERVIEW
??INSIGHTS
Venmo, Cash App, PayPal, Zelle and other payment apps may be convenient ways to send cash with a few taps of your smartphone, but they’re a breeding grounds for theft, Manhattan District Attorney Alvin Bragg tells CNN.
Culprits range from savvy swindlers, who trick their way into victims’ locked cell phones, to violent offenders who either drug their targets and then take advantage or bark out commands while threatening physical harm, Bragg said in an interview.
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? DIGITAL BANKING HIGHLIGHTS
?? Jamie Dimon Shakes Up JPMorgan Leadership Again .
?? Societe Generale Mulls Putting Digital Bank Shine up for Sale.
?? Judo bumps up profit outlook as margin lifts on new loans .
?? Nova Credit helps Ukrainians in U.S., U.K., Canada get credit.
?? REGIONAL HIGHLIGHTS
UK ????
Perenna to offer green discount for customers who decarbonise their homes . The fintech has secured funding for the project which will be used to launch its Perenna Retrofit Mortgage to the market.
Revolut hits back at Allianz lawsuit citing service level failures , and expands international transfers with launch of ‘Mobile Wallets’ .
领英推荐
LHV Savings Account now allows you to save up flexibly. This is one of the first steps in financial wisdom having savings gives you peace of mind in unexpected situations.
Colombian tycoon Gilinski joins daughter on Metro Bank board. He will officially join the board once regulatory approvals and other formalities are completed.
Current Account Switch Service hits 10 million total switches following busiest quarter since launch. Between October and December 2023, the Current Account Switch Service facilitated 433,701 switches.
Revolut account closure lawsuit from late Russian oligarch’s son-in-law struck out by a High Court judge, who sided with Revolut on Thursday and ruled that the case be struck out as an abuse of process.
EUROPE ????
Vivid Business launched a 4% interest rate and many options. Financial management for businesses is made possible by a combination that allows employees to manage both their private finances and business expenses .
Mondu secures €30m to double down on European expansion . The fresh round adds to €20m the fintech raised from the bank back in 2022, and brings its total funding to more than €115m.
EU Agrees on Stricter Anti-Money Laundering Rules. The new rules aim to close regulatory loopholes and ensure illicit money from criminal activities.
“Maybe we can acquire Monzo.” An interview with Lunar ’s CEO Ken Villum Klausen. A push for profitability in 2023 has brought about a surge in revenue generation for one of Europe’s leading neobanks.
USA ????
KlariVis signs b1BANK to enterprise data and analytics tech. Thanks to a strong commitment to relationship-based banking and cutting-edge technology , the publicly-traded bank now serves communities across Louisiana and Texas.
CANADA ????
Central 1 partners with Flinks to introduce open banking functionality to its credit union members and financial institution clients.
LATAM
PayPal enables cash withdrawals at banks in Costa Rica, Panama and El Salvador. Users can now withdraw their funds directly from their PayPal account to a local bank account .
Nubank announces a new feature to add funds to the account using the credit card limit. The new tool allows customers to convert their credit card limit into cash in their account, with the option to pay in installments of up to 12 times.
Nubank’s growth rate in Mexico surpassed that of Brazil. Customers can now transfer money instantly with the integration of the local Central Bank system.
Santander Mexico to launch digital bank 'soon,' executive says. Santander has also launched a handful of other digitally focused services in Mexico recently.
PagBank, Inter and C6 are among the five banks with the most complaints, according to the Central Bank of Brazil. The ranking takes into account the number of complaints per total number of customers.
Banco Itaú Chile launched "itu", a digital checking account. The Itu account will be offered free of charge until June 30 , but may be extended if a requirement of monthly payments or number of debit card purchases is met.
ASIA
Korean internet-only banks see 70% surge in mortgage loans. This marks an increase of 70.8 percent compared to the end of 2022 when the outstanding balance was 15.59 trillion won.
UnionBank of the Philippines to Adopt Informatica’s Intelligent Master Data Management (MDM) SaaS . The bank claims that it “has always been the first to embrace technological innovations including cloud and AI to empower its customers.”
AUSTRALIA ????
Travelex relaunches online FX services. Due to this relaunch, CBA's retail customers will be able to order more than 30 different currencies online .
AFRICA
Bank Zero increasingly gains ‘primary bank account’ status. Bank Zero says its business model, based on the “segment-agnostic” approach of not offering entry-level accounts ”, has seen it garner an increasing number of customers since inception.
MOVERS AND SHAKERS
Tonik Country President Long Pineda retires, replaced by Group CEO Greg Krasnov. Ms. Pineda has been instrumental in securing Tonik’s position as the first digital bank in the Philippines .
The Bank Of London Appoints Anne Grim To The Uk Bank Board. Her insights draw from deep digital technology expertise and commercial insight as well as managing change and business model innovation.
Mangopay appoints Liz Oakes as non-executive director. Liz was most recently based at Mastercard, where she held executive roles in the company’s payments businesses .
Livia Chanes becomes CEO of Nubank’s Brazilian operation. Under her leadership, Nu Brazil gained 20 million new customers and launched more than 50 new products and services, including new tools for entrepreneurs.