News
Singapore studying if fintechs should operate digital-only banks
Singapore’s central bank said it is studying whether to allow financial technology firms (fintechs) to operate digital-only banks in the city-state. Read more…
banking
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Defining financial inclusion and its true value to society
At least 1.5 billion adults worldwide do not have access to financial services and, as a result, are not benefiting from financial inclusion. Read more…
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Forget AI, banks need to get rid of legacy systems to stand a chance
Banks will not stand a chance against FinTech start-ups crowding into the profitable bits of the market unless they fix their basic problems. Read more…
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Are traditional banks approaching their ‘Kodak moment’?
People are more confident using new digital banks and their services and, as my traditional banker friend said, we are approaching “the Kodak moment”. Read more…
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Mapping disruption across industries will look like a lava lamp
Disruption will not be consistent, nor global. It will be patchy, opportunistic and will depend to a huge extent on culture. It will look like a lava lamp. Read more…
Off the Wire
Digital upstarts disrupt traditional bank revenues: report
New entrants to the banking market – including challenger banks, non-bank payments institutions and big tech companies – are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according Read more…
News
Digital tech not responsible for anaemic inflation: ECB
FRANKFURT (Reuters) – Rapid technological advances cut inflation only marginally and temporarily, Bundesbank President Jens Weidmann said on Monday, weighing in on one of the biggest debates in modern central banking. With much of the Read more…
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Why (and how) the banks of the future must ‘Amazonize’ themselves
Open banking will require banks to ‘Amazonize’ themselves, where products are created as API services and distributed throughout the consumption of API services. Here’s how they could go about doing that. In his new book Read more…
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Banking regulators unruffled by FinTech disruption
LONDON (Reuters) – Global banking regulators signalled on Monday they were in no rush to adapt their rules to financial technology firms that have begun nibbling away at banks’ markets. The regulators looked at how Read more…
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SWIFT warns banks: get ready for more cyber heists
(Reuters) – SWIFT, the global messaging system used to move trillions of dollars each day, warned banks on Wednesday that the threat of digital heists is on the rise as hackers use increasingly sophisticated tools Read more…