Non-bank competitors

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CMA9 banks respond to Open Banking mobile app delays

/Non-bank competitors

CMA9 banks respond to Open Banking mobile app delays

In light of the UK’s Competition and Markets Authority scolding five of the CMA9 – Bank of Ireland, Danske Bank, HSBC, Lloyds Banking Group and Santander – for being in breach of Open Banking delivery on mobile apps, Finextra questions the banks on why deadlines were missed.

Banks have been the catalyst for Nordic digital identity success

/Non-bank competitors

Banks have been the catalyst for Nordic digital identity success

In conversation with Finextra Research, Arkwright’s Frank Wunderlich and Signicat’s John Erik Setsaas discuss their new report which highlights how the Nordic region can now act as a blueprint for digital identity success and how banks are crucial for this positive result.

Tackling digital transformation in Nordic financial services

/Non-bank competitors

Tackling digital transformation in Nordic financial services

SWIFT's Business Forum Nordics event examined how the financial services community in the region can deliver technological innovation while managing emerging risk factors.

Money 20/20 Asia round-up: Accelerating financial services for the underbanked

/inclusion

Money 20/20 Asia round-up: Accelerating financial services for the underbanked

On its return to Asia for the second year running, Money20/20 put on a world-class event in Singapore and welcomed senior leaders in financial services, fintech and payments to connect over major developments in digital money.

Money 20/20 Asia Q&A: Barclays’ John Stecher on fintech/banking co-opetition

/retail

Money 20/20 Asia Q&A: Barclays’ John Stecher on fintech/banking co-opetition

John Stecher, chief innovation officer at Barclays, joined industry leaders at Money 20/20 Asia in Singapore to discuss the relationship traditional banks have with fintech challengers and technology companies. Ahead of the panel session, Finextra spoke to Stecher about how the ongoing evolution from competition to co-opetition between fintech startups and incumbents, as new players realise that because of a range of different factors, it is difficult to replace incumbent banks.

41% of banks missed PSD2 deadline says survey

/Non-bank competitors

41% of banks missed PSD2 deadline says survey

Close to half of banks (41%) failed to meet a recent deadline for the Payment Services Directive (PSD2) to provide a testing environment or 'sandbox' for any third party service providers (TPPs).

Money 20/20 Asia: Leveraging data to provide the unbanked with credit

/inclusion

Money 20/20 Asia: Leveraging data to provide the unbanked with credit

Money 20/20 Asia day three opened with a detailed discussion on reaching the unbanked in South East Asia, following an age in which financial inclusion has been driven by regulatory and policy mandates. Today, the ‘financial inclusion market’ is leveraging data analytics to offer a greater choice for consumers and expand in areas that financial institutions previously avoided because of increased paperwork.

Money 20/20 Asia: HSBC, Project Iceberg and strategic investment

/Non-bank competitors

Money 20/20 Asia: HSBC, Project Iceberg and strategic investment

On the main stage at Money 20/20 Asia in Singapore, Andy Maguire, group managing director and group chief operating officer at HSBC, gave the bank’s first public talk about the digital-only banking initiative referred to as Project Iceberg, after the leak earlier this year.

Cryptoexchange assets locked after founder dies

/Non-bank competitors

Cryptoexchange assets locked after founder dies

Operators of Canada's biggest cryptoexchange are unable to access more than £100m in reserves after its founder died taking the passwords and recovery codes with him.

US shutdown impacts fintech market

/Non-bank competitors

US shutdown impacts fintech market

The ongoing shutdown of the US government, sparked by a disagreement over funding for border security, is starting to impinge on the US fintech industry, according to reports.

Scotland's fintechs treble in number

/Non-bank competitors

Scotland's fintechs treble in number

The number of fintechs based in Scotland has increased threefold in the last 12 months following an initiative between government, academia and the finance industry designed to boost the sector.

Open Banking year one: Insights from the CMA9 and more

/Non-bank competitors

Open Banking year one: Insights from the CMA9 and more

A review of the first year of the UK’s groundbreaking experiment in Open Banking. What worked? What didn’t? And what next?

Mastercard ditches name in logo rebrand

/Non-bank competitors

Mastercard ditches name in logo rebrand

Mastercard has taken the bold step of removing its name from its logo in a move it says is inspired by the rise of digital banking and a future where there will be less reliance on card payments.

N26 becomes Europe's most valuable fintech startup

/Non-bank competitors

N26 becomes Europe's most valuable fintech startup

German digital bank N26 has become Europe's most highly valued non-listed fintech startup following a $300 million fundraising round that prices the company at $2.7 billion.

/Non-bank competitors

Cass Business School teams up with universities for startup lessons

Cass Business School, in partnership with the University of Oxford and Bocconi University, have this week launched Strategy Insight Lab, a three-month business support programme for UK based microbusinesses and start-ups.

Google gets payments licence in Ireland

/Non-bank competitors

Google gets payments licence in Ireland

Ireland's central bank has granted authorisation for Google to operate as a payments institution, a move that could see the big tech giant significantly expand its financial services offerings across the European Union.

Challenger bank Chetwood gets UK banking licence

/Non-bank competitors

Challenger bank Chetwood gets UK banking licence

Chetwood Financial, which is backed by UK hedge fund Elliott Management, is the latest challenger bank to be granted a full UK banking licence.

China's DiDi introduces in-app financial services

/Non-bank competitors

China's DiDi introduces in-app financial services

Chinese ride-hailing firm Didi Chuxing is moving into financial services, adding mutual protection, personal credit and automobile financing products to its mobile app.

Spanish banks rail against Big Tech threat

/Non-bank competitors

Spanish banks rail against Big Tech threat

Spanish banks have warned of the potential financial stability implications of Big Tech firms like Goolge, Amazon and Facebook entering the financial services industry.

AI, Big Tech and the cloud will damage the banking industry if not embraced - Citibank

/ai

AI, Big Tech and the cloud will damage the banking industry if not embraced - Citibank

Citibank’s global head of bank research Ronit Ghose kicked off this year’s EMEA Media Summit by highlighting how artificial intelligence, Big Tech and core banking systems on the cloud will disrupt financial services.

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