Posts tagged with Fintech

TD Bank's acquisition of an AI firm highlights the growing importance of AI in banking

Last week, TD Bank, the second largest bank in Canada, announced that it is acquiring Layer 6, a prediction and personalization platform.

The deal highlights the growing importance of artificial intelligence (AI) to banks that are trying to stay ahead of the curve as they face digital disruption from fintechs.

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New E.U. regulations could make it easier for fintechs to operate across the bloc

This past Saturday, new Open Banking rules that require big banks to share data with vetted third parties, including fintech upstarts, went into effect in the U.K.

Open Banking is more than anything else a reflection of the fact that the world is changing for big banks as regulators look to support fintech innovation.

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Fintechs and banks to partner in 2018 thanks to Open Banking

As 2018 fast approaches, there's reason to believe that one of the biggest trends that will be seen in the banking industry in the UK next year is a tighter relationship between big banks and fintechs.

That's because on January 13, Open Banking comes into effect.

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bank

Six ways fintech startups could hurt incumbent banks

For years, there has been much talk about the impact of fintech startups like Monzo and Atom Bank on incumbent banks but little has been done to quantify the actual effects fintechs are having on big banks.

New data from The Bank of England (BoE), published as part of its 2017 stress test of the UK banking system, however, is shedding light on this subject.

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Can big banks catch up to Venmo with P2P payments app Zelle?

Digital disruption has impacted just about every industry and one could make an argument that perhaps nowhere is the disruption more evident than in financial services.

Despite the fact that entrenched financial services firms, including big banks, have almost unfathomable amounts of money, in almost every financial services market, upstarts have sought to dethrone the entrenched players.

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Why fintech disruption isn't just about the technology

In the past few years, fintech startups have disrupted the financial services industry and forced entrenched players, some that have been around for a 100+ years, to scramble.

But just what is fintech and why is it having such a big impact on one of the most lucrative markets in the world? 

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mat perkins

A day in the life of... Product Director at Klarna

Klarna works with retailers such as Topshop, handling customer payments and providing 'pay over time' and 'pay after delivery' services.

We caught up with Product Director Mat Perkins to find out more about his role.

(If you're after a new role yourself, check out the Econsultancy jobs board)

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How fintech brokerage firm Robinhood built a billion dollar business

Financial services upstarts are gunning for established financial services firms, and the fintech world just welcomed its newest unicorn: Robinhood.

Here's how the upstart brokerage firm did it.

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Can Wells Fargo's new brand platform help it restore consumer trust?

Wells Fargo has paid a hefty price for its fake account scandal.

While the bank has fired more than 5,000 employees implicated in the scandal, clawed back $75m in compensation from executives it blamed for the fraud, and agreed to pay $110m to settle a class action lawsuit over its opening of more than a million unauthorized customer accounts, consumers apparently aren't willing to forgive the company, at least not yet.

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Could established financial services firms lose a quarter of their revenue to fintechs?

Upstart fintech companies are disrupting established financial services players, namely large banks, but just how serious a threat are these upstarts to firms that collectively control trillions of dollars of capital?

According to a new study conducted by PricewaterhouseCoopers, which polled more than 1,300 executives, established financial services firms could lose nearly a quarter (24%) of their revenue to fintechs in the next three to five years.

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Banks are using data access to disrupt their disruptors

The future for big banks in a fintech world is the subject of debate, and there's reason to believe that big banks are more vulnerable to disruptive startups than some might assume.

But as they seek to maintain their position in the marketplace, banks are turning to what is perhaps their most valuable asset: data.

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BNP Paribas looks to transform its customer experience, not its services

There's a fine line between transforming customer experience and transforming a product or service.

That distinction hasn't been lost on international banking group BNP Paribas as it seeks to respond to the digital disruption that is prevalent in the financial services sector.

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