Issue #281 - Banks aren’t as stupid as enterprise AI and fintech entrepreneurs think

Fintech News Issue #281

2020-09-03

Robinhood May Face $10M SEC Fine Over Disclosure Failures
Robinhood May Face $10M SEC Fine Over Disclosure Failures
via Coindesk

Robinhood is reportedly in hot water with a top U.S. regulator for not properly disclosing that it was making revenue by passing customer orders onto market makers.

Banks aren’t as stupid as enterprise AI and fintech entrepreneurs think
Banks aren’t as stupid as enterprise AI and fintech entrepreneurs think
via Tech Crunch

Announcements like Selina Finance’s $53 million raise and another $64.7 million raise the next day for a different banking startup spark enterprise artificial intelligence and fintech evangelists to rejoin the debate over how banks are stupid and need help or competition.

Amazon's new offerings make India centre of fintech push
Amazon's new offerings make India centre of fintech push
via Reuters

Amazon.com Inc (AMZN.O) has added insurance and even gold to its menu of financial services in India, to expand its customer base and attract more subscribers to its Prime loyalty programme in a battleground growth market.

MAXathon
MAXathon

Maxonrow is looking for blockchain experts and developers who can help fight COVID-19 and future pandemics by solidifying blockchain for healthcare solution. The platform is open, register your project by Sep.13th.

Vipps to reach beyond Norway with Visa distribution deal
Vipps to reach beyond Norway with Visa distribution deal
via Finextra

Norwegian payments app Vipps is making a bid to break out of its home market through a strategic partnership with Visa.

Risky business
Risky business
via Fintech Futures

I got some good traction with my “The revolution will be regulated” piece so watch me push my luck, now. Because I am not quite done making my point.

Open banking: Truelayer and Freetrade launch partnership
Open banking: Truelayer and Freetrade launch partnership
via altfi

The move will allow users to fund their accounts more quickly and therefore be able to react faster to invest in stocks and ETFs available on the Freetrade platform.

Digital Bank Revolut Expands Crypto Buying and Selling Service to Australia
Digital Bank Revolut Expands Crypto Buying and Selling Service to Australia
via Coindesk

Revolut has opened its cryptocurrency services to Australian residents.

It's time to tie banks' business models to customer well-being
It's time to tie banks' business models to customer well-being
via American Banker

America’s current financial system is essentially broken for the many working Americans who live on the edge financially. Mismatched incentives are at the heart of the problem.

Hong Kong’s days of ‘cash is king’ may be in peril as fears of Covid-19 infection boost digital payments
Hong Kong’s days of ‘cash is king’ may be in peril as fears of Covid-19 infection boost digital payments
via South China Morning Post

The outbreak has made people worry about touching cash, which has accelerated a shift towards digital payments, according to transaction data and Visa’s local boss

Where in the world is the fintech revolution taking place?
Where in the world is the fintech revolution taking place?
via Value Walk

Even if you’re not into knowing about the latest news from the start-up world and have no real interest in finance, when the two come together in the form of FinTech, it’s something that has the power to change your life even without you being aware of how it came about.

What is fintech?
What is fintech?
via Bankrate

The term fintech might conjure futuristic ideas of the merging of traditional finances with technology. But fintech already likely holds a prominent place in your daily life.

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