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PayPal freezes merchant accounts arbitrarily (from merchants' p.o.v). Now a fintech bank disables customer accounts equally arbitrarily (from customers' p.o.v). This is just early stages of fintechs using Big Data to take highly granular decisions at individual customer level. But we can't complain: After all, the digerati was exhorting banks to use data. They were daydreaming if they thought fintechs would do it for customer's benefit.

40% up and 8% down. Not a bad red herring, I'd say!

"Mondo community manager Tristan Thomas says vote counts will be taken into account when deciding what to build next, "although our engineering time and internal priorities will generally take precedence"".

Spoken like a "full bank" even before becoming one. 

They kept saying, as people become more comfortable with online shopping in India, they'll increasingly use digital payment methods for ecommerce. However, the exact opposite has happened in reality: According to latest figures for ecommerce in Q1-2016, Cash on Delivery has actually risen to 70%.

As I highlighted in two of my recent posts, there are ways to boost cashless payment methods; talking trash about cash is not one of them.  

How To Really Kill Cash

Five Ways For Banks To Boost Credit Card Use

Is finserv listening? 

"will tell a conference", "will say". 

Predictive journalism?:)

With most categories of fintechs working as mere distribution channels for traditional banks, online P2P Lending companies like Lending Club were the only hope to disrupt traditional banks. Sad to see this bleak outlook for them.

I thought mobile wallets were going to kill debit and credit cards by 2007?

HSBC India's branch closure is not just because of shift to digital channels - it is shutting down its wealth management business altogether.

Can't agree more. For all the billions poured into fintech, I'm not seeing any concrete products. To take a personal example, my bank promised an add-on credit card over a month ago. Several reminders later, I still haven't got it. I'm sick and tired of waiting and have decided to shop around. But, lo and behold, I can't find a single fintech that does credit cards.

Couldn't help noticing that any average bank account in India offers the so-called cool perks of Monese - cash deposits, global ATM cash withdrawals, real-time payments between Monese users and mid-market exchange rates between currencies - without the £4.95/mo fees! In addition, it also offers near real time payments to other banks as well. Not sure whom to thank from among the regulator, free market competition and banks but somebody surely deserves accolades.