Banking

Lightweight ‘Banking via Messaging’ Services Are Getting Gen Z Buzz

Lightweight ‘Banking via Messaging’ Services Are Getting Gen Z Buzz

More evidence that Gen Z is switching to chat platforms for just about everything, including banking, emerges today in the news that Zelf, a fintech startup offering neobank-style services, is generating buzz amongst Gen-Zers in Spain and France.

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Covid-19 Aftermath Will Bring Banks and Fintechs Together

Despite underwhelming past experience of bank/fintech collaborations, the current pandemic is likely to drive deeper relationships between incumbent banks and startups as legacy applications prove unfit for purpose in a digitally-empowered future.

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Banking Pulse: Trends, Technologies and Priorities That Will Shape the Industry in 2020 and Beyond

2020 is set to be defined by technological innovation, financial wellness and an elevated customer experience, says Oana Ifrim, senior editor at The Paypers.

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McKinsey: What COVID-19 Means for Banks and Banking

McKinsey: What COVID-19 Means for Banks and Banking

Coronavirus and the disruption it has caused have serious implications for the financial services industry, but will we see a financial crisis? The impact of the global Coronavirus pandemic has been felt in every nation and every industry.

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Three Ways the Coronavirus Could Affect Banking Globally

Three Ways the Coronavirus Could Affect Banking Globally

As fallout from the coronavirus outbreak continues, we see the possibility of three trends developing in the global banking industry in response: Falling central bank interest rates are likely to hurt savings account interest rates that some banks rely on to acquire customers and drive deposits.

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Who’s Better: Digital Banks or Traditional Banks?

Who’s Better: Digital Banks or Traditional Banks?

A TV commercial from challenger bank Chime features a woman who says she switched banks because her old bank didn’t help her manage her financial life. Is that how most consumers feel? And are the challenger (i.e.

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Banks Tap Fed Discount Window to Signal Readiness on Credit

Banks Tap Fed Discount Window to Signal Readiness on Credit

The largest banks in the United States acted in concert Monday night to tap funds from the Federal Reserve’s emergency discount window to show they’re prepared to use all available tools to keep credit flowing while the economy reels from the novel coronavirus outbreak.

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Amazon and Payment Apps May Hurt Banks More Than Retailers

Sweeping changes to the financial services industry are underway and will accelerate dramatically in the coming years. In fact, the financial services industry should get ready to experience its very own “Amazonification” in the next year or two.

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How to Compete With Banks: Start With First Principles

How to Compete With Banks: Start With First Principles

Aristotle may have originated the notion of first principles thousands of years ago, but it would take Elon Musk to add a contemporary business flair to that method of analyzing business problems.

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Banks Need to Shift Their Mindset to Fight Synthetic ID Fraud

Banks Need to Shift Their Mindset to Fight Synthetic ID Fraud

Economic growth is making credit more widely available for consumers to purchase cars and homes, as well as to invest in their future. It is also providing fraudsters a broader opportunity to implement innovative schemes, such as synthetic identity fraud.

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The Rise of Challenger Banks in the Payments Space: How Can Traditional Banks Keep Up in 2020?

The Rise of Challenger Banks in the Payments Space: How Can Traditional Banks Keep Up in 2020?

With the emergence of challenger banks and big tech companies, traditional financial institutions are facing a rising number of competitors in the increasingly crowded payments space. These competitors have begun to address some of the unmet needs of consumers, such as those of the largely underserved gig economy workers.

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Banks Cut Nearly 78K Jobs in 2019, a 4-year High

Banks Cut Nearly 78K Jobs in 2019, a 4-year High

Banks worldwide cut 77,780 jobs in 2019, according to filings by financial institutions and labor unions – the highest total since 91,448 cuts in 2015. Nearly 82 of that figure came from banks in Europe, where negative interest rates are expected to continue for years to come.

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