Issue 227 · Jul 25, 2019 Weekly edition · 3 min read

Fintech News

This weeks issue is about three fintech innovations that create real value. Also, it deals with the question why fintech companies keep launching their own banking products. Our third top story this week is about the

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Consumer Fintech Use Goes Mainstream

The use of fintech products and services in Singapore has grown substantially in the past two years, though the country still lags China and India by a large margin.

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In this issue · 11 items

Three global fintech innovations that created real value BAI — Today’s non-banks and new challenger banks lead innovation—and create what I call #REALVALUE—by taking a problem-solving approach to innovation. Open story ↗ Fintech firm Zeta’s valuation climbs to $300M in its first external funding round Tech Crunch — Startups looking to expand the reach of financial services continue to receive a nod from investors. Open story ↗ The best fintech startups in Europe Valuer — Government support for the financial sector and financial technology (fintech) is huge, not only because of its size (global funding = $111.8 billion), but it is growing at an unprecedented rate, partially due to technology, and more specifically, an increase in access to mobile devices. Open story ↗ Why FinTech Companies Keep Launching Their Own Banking Products Forbes — While anyone could purchase a Certificate of Deposit (CD) that paid over 5% APY just a decade ago, the average rate for a 12-month CD is now just 0.59%. Open story ↗ Fintech Tips: How to avoid a bank scam... 3 ways technology can help, but it’s still down to you altfi — Biometrics, tokenisation and big data can cut bank fraud, but customers still need their wits about them. Open story ↗ Bank of America Patents Method Using Ripple Technology CCN — A non-utility patent filed by Bank of America has Ripple fans in high spirits today. Open story ↗ Feds hurt consumers by holding back new banking technologies Houston Chronicle — Recently I ordered a pair of fancy reading glasses online from a national department store, and within hours someone used my credit card to buy gasoline near the company’s headquarters. Open story ↗ How to make a small island a big centre for FinTech The Finanser — One of the discussions at the UN meetings was around SIDS, the Small Island Developing States[...] Open story ↗ How advances in fintech are helping financial advisors CNBC — Among independent advisory firms, 58% plan to invest in new technology this year, with the top reason being the hope to serve more clients. Open story ↗ Fintechs are competing to offer the highest interest rates for savings accounts Quartz — Savings accounts that offer generous interest rates are emerging as a key battleground for financial upstarts. Open story ↗ Urgency of Digital-First Strategies Grows in Banking’s Innovation Race The Financial Brand — Marriott's move to compete with Airbnb's platform-based business model should be a wake-up call for banks and credit unions to get serious about digital innovation. Open story ↗

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Consumer Fintech Use Goes Mainstream

Finance intelligence, minus the noise.

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