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As I highlighted in Open Banking Needs A Blockchain Boost, the founding premise of Open Banking is questionable. I'm tempted to believe that's the reason for the lukewarm reception received by Open Banking.

But I'll stand corrected if there's any evidence to show that customers wanted truly “open” products and services that allow them to take control and make sound decisions using their own data. 

"Which? wants banks to provide evidence that their warnings are effective..." 

Well tried. TBH, the warning is itself a favor that banks are doing. People must take responsibility for their actions. Judging warnings just proves the old adage "give an inch, take a mile".

Bad move for Contactless Credit Cards. Good move for Contactless Debit Cards. I’d removed all contactless debit cards from my wallet and took them out from home only when I was going to visit an ATM. After this move, I can disable PINless mode and restore my contactless debit cards to my wallet.

Can somebody clarify what risk does this insurance cover? In other words, upon occurrence of what event will the insurer pay out the sum assured? Also, what does a "book" mean in the context of invoices? Thanks in advance.

Some people predicted that iPhone with NFC will kill Plastic Credit Card over 5 years ago on these very pages of Finextra. Some others have been predicting that Mobile Wallets will replace Plastic Card the next year for the last 10 years. 

Why blame DB. It's just one more party that's trying to be cool and generate a few pageviews and clickthroughs.

For all its name and fame, Goldman Sachs was not a retail bank. Its forays like Marcus, Apple Card are ways by which GS is trying to get a foothold in retail banking. Only time will tell how this goes. 

Sorry but you've misread the lending market in India. It's not that "Bank has largely failed to adapt to the needs and the reality of its surroundings". It's that banks have learned from past lessons and created this reality. Loan recovery is a huge challenge in India. Many banks and NBFCs went aggressive in consumer loans 10-20 years ago and burned their fingers - even shut down - when delinquent outstandings went through the roof, and they had little or no hope of collecting on them e.g. Citi, Barclays, Fullerton. That's why, this time, they choose to lend wholesale to fintechs. Only time will tell how Fintechs will fare when it comes to recovery. At least, if they fail, taxpayer's money won't be used for bailouts. So, by staying away from subprime loans, which form the bulk of fintech's portfolio, banks are behaving responsibly.

That said, when it comes to lending to prime borrowers, many banks match the CX of fintechs.

...or why not just STRIPE it?

@Chetan Ghadge + 1. 

Far from forcing, the regulators just seem to be standing by and watching the Amazons of the world erect even taller walls around their walled gardens. 

After Honey, the discount coupon browser extension was recently acquired by PayPal for $4B, Amazon has started displaying a warning on its checkout page warning customers that Honey harvests their Amazon shopping history and telling them to delete the extension.

And then there are stories of LinkedIn regularly blocking several third party tools that collect the profile information of opted-in users, despite the fact that 100% of the information was submitted by users in the first place. 

If customers' banking history should be opened up to others, why not customers' shopping history and profile info?

But we haven't heard a word from the regulator against such practices by Amazon or LinkedIn.

Much needed move. Kudos to StanChart / SWIFT. 

On a side note, it's equally important to communicate to the Sender and Receiver of the cross-border payment that the said payment is being routed via SWIFT and provide the URL of this tracker website. So that the Sender and Receiver know there's someplace they can go to track the payment.

In my experience, this is not as trivial or commonsensical as it sounds: Over the years, my customers have made dozens of cross-border payments from USA and other countries to my company in India via leading banks in their respective countries. Once they initiate the payment, typically at the bank branch, they receive a payment confirmation advice, which they email me. All advices say "Wire Transfer". I know that all those payments are routed thru' SWIFT but I don't recall a single advice making an explicit mention of that fact. 

I know fintechs like Lending Club lend to people ignored by banks and thus earn *new* sources of interest and fee income. But "taking revenue away from banks" means banks were earning some revenues before, which they now don't and have lost it to fintechs. Since you assert that fintechs have "certainly taken revenues away from banks", can you cite a couple of examples of fintechs who have done so?