Friday March 2, 2018 –
Here are the new and noteworthy stories we have been following this week.
Britain’s big banks play catch up with fintech with new apps
Big UK banks are rolling out new apps to compete more effectively with ‘challenger’ banks.
Fintech Startups Need Industry Partners to Thrive, Report Says
The narrative has shifted from disintermediation to collaboration – according to a new report from Capgemini and LinkedIn, 75% of fintech executives surveyed said their primary business objective is to collaborate with traditional firms, such as banks and insurance companies.
Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Bank
Goldman is making active forays into retail banking; in addition to deposits and personal loans, plans call for selling insurance, mortgages and car loans.
Swift reports surge in support for gpi as payment times shrink to minutes
SWIFT announced that more than US $100 billion in SWIFT gpi messages are being sent every day, enabling payments to be credited to end beneficiaries within minutes.
Visa’s Everywhere Initiative Calls on Global FinTechs to Participate in 2018 Program
Visa announced an expansion of Visa’s Everywhere Initiative (VEI) for 2018 with a more dynamic program, new participating countries, and an elevated level of support for participants.
FLEETCOR & Ripple Team Up to Modernize Payments Using Blockchain
FLEETCOR is launching a pilot program with Ripple to pilot the use of XRP for international commercial payments.
Bank of England’s Carney calls for more regulation around the ‘speculative mania’ of cryptocurrencies
Citi wants fintech startups to disrupt institutional banking
Citi believes that there is mutual benefit and opportunity for banks and fintech firms within institutional banking.