Fintech News Issue #285 October 8th, 2020
Top Stories
In the UK, last year’s report on “Consumer Priorities for Open Banking” by Faith Reynolds and Mark Chidley (which is, by the way, an excellent piece of work and well worth reading) set out just why it is that open banking by itself delivers quite limited benefits for consumers.
A core investment strategy is facing an unprecedented threat, and the solution may be to buy bitcoin.
PPP Scammers Made Fintech Companies Their Lenders of Choice
— via Bloomberg BusinessweekThe government turned to web-based lenders to get money out quickly, without too much paperwork.
FinTech Articles
Visa connects with Stripe for B2B payments
— via FinextraVisa has struck a deal with Stripe to enable buyers on Visa Payables Automation to pay suppliers who are unable to accept digital payments through the use of a virtual Visa card.
Investing In Women Isn’t A Fucking Charity.
— via MediumIt’s a smart, strategic business move, and more urgent than ever to invest in women.
Prestigious medical journal calls for US leadership to be voted out over Covid-19 failure
— via CNN healthIn an unprecedented move, the New England Journal of Medicine on Wednesday published an editorial written by its editors condemning the Trump administration for its response to the Covid-19 pandemic -- and calling for the current leadership in the United States to be voted out of office.
Out of all the universities with blockchain education programs, two stand out by offering students paid opportunities to learn by working.
FDIC warns banks of consequences of not adopting technology
— via finLedgerFDIC Chairwoman Jelena McWilliams warns relying on legacy systems will result in lost customers
Can Two Legacy Banks Become a Digital Banking Leader?
— via The Financial BrandIn late 2019, BB&T and SunTrust combined to become the 6th largest bank in the country, serving 10 million households. Looking at the strategic and financial benefits of the merger, the mission was to preserve the strong cultures of the legacy organizations, while using the combined scale and cost savings to build best of breed systems, processes and digital capabilities.
Artificial intelligence and machine learning: A new blueprint for the fintech industry
— via IT Pro PortalArtificial intelligence and machine learning under utilized by companies.
Citigroup backs fintech company Genesis
— via ReutersCitigroup Inc C.N has made a strategic investment in Genesis Global Technology Limited, a London-based startup that develops technology to make it cheaper and faster for financial firms to build applications such as trading systems, the companies said on Monday.
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