Issue #304 - How to balance the pursuit of profit against ethical data usage

Fintech News Issue #304

2021-02-25

Forget bitcoin — fintech is the ‘real Covid-19 story,’ JPMorgan says
Forget bitcoin — fintech is the ‘real Covid-19 story,’ JPMorgan says
via CNBC

JPMorgan thinks bitcoin is an “economic side show,” despite the cryptocurrency’s monster rally.

Fintech companies must balance the pursuit of profit against ethical data usage
Fintech companies must balance the pursuit of profit against ethical data usage
via Tech Crunch

Financial institutions are falling behind the tech curve in delivering on the convenience consumers demand, leaving the door wide open for Big Tech companies like Apple, Amazon and Google to become our bankers.

The Product Expansion Strategy of Marcus by Goldman Sachs
The Product Expansion Strategy of Marcus by Goldman Sachs

Over the past year, Marcus by Goldman Sachs has continued to expand offerings, including teaming up with Amazon and Walmart to offer loans to sellers on their marketplaces, buying the General Motors credit card business, launching Marcus Insights smart tools and trackers, and most recently, announcing the offering of a digital investing platform.

15 Fastest-Growing Fintech Companies
15 Fastest-Growing Fintech Companies
via Yahoo Finance

In this article, we mention the 15 Fastest-Growing Fintech Companies in the world. If you want to skip our discussion of the growth of the fintech industry and recent trends in the sector, go directly to the 5 Fastest-Growing Fintech Companies.

Why Are We Seeing a Fintech App Every Day?
Why Are We Seeing a Fintech App Every Day?
via Payments Journal

Another day, another fintech app, but the big question is, who’s driving the demand: financial innovators keen on disrupting the system, or financial savvy consumers who now understand what they want from their financial services provider?

UK to unveil new visa scheme for fintech workers
UK to unveil new visa scheme for fintech workers
via City A.M.

The new visa fast track scheme will give priority access to professionals in the tech industry to live and work in the UK as a part of the country’s new post-Brexit immigration system.

Top 3 fintech predictions for 2021
Top 3 fintech predictions for 2021
via Finextra

2021 will be the year that tech acceleration finally transforms the City.

 Fintechs can help banks meet CRA obligations
Fintechs can help banks meet CRA obligations
via American Banker

America still has a very long way to go when it comes to equitable financial inclusion.

Exaggerations That Can Kill Digital Banking Loyalty
Exaggerations That Can Kill Digital Banking Loyalty
via The Financial Brand

Consumers are frustrated and they no longer want to accept deceptions their bank or credit union are selling them.

Banking on digital growth
Banking on digital growth
via Chris Skinner's Blog

Traditional banks tend to push products through channels to get greater share of wallet and cross sell. Whereas, digital banks start with the customer journey and need, and then build the user experience to be part of a relationship interaction digitally, rather than trying to actually sell them anything.

Intuit sues Visa and Mastercard over 'price fixing'
Intuit sues Visa and Mastercard over 'price fixing'
via Finextra

Intuit has filed a federal lawsuit against Mastercard and Visa over 'unlawful' price fixing in interchange and card scheme fee structures.

China to tighten online lending rules from 2022 in additional measures to rein in fintech giants, pre-empt banking crisis
China to tighten online lending rules from 2022 in additional measures to rein in fintech giants, pre-empt banking crisis
via South China Morning Post

Online lending platforms will need to contribute 30 per cent of own capital for loans they make with commercial banks from January next year

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