Issue 266 · Apr 30, 2020 Weekly edition · 3 min read

Fintech News

This week in the latest issue of FinTech Weekly: Three top stories and each one is a podcast. We figured with so many people at home and more time to spend with them, a podcast is just the thing. In the Top Stories you

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UK cash withdrawals plummet 60% during Covid-19 lockdown

The Covid-19 pandemic is radically changing cash usage in the UK, with ATM withdrawals falling 60% during the lockdown and three quarters of Brits reporting that their use of paper money is down.

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In this issue · 13 items

COVID-19 Impact On The Future of Retail Banking The Financial Brand — The COVID-19 pandemic is the most serious challenge to retail banking in almost a century. Retail banks have had to rethink distribution, support government relief programs and manage remote work forces, all while trying to meet consumer expectations during a period of household-level economic uncertainty. Open story ↗ FINTECH WORLD FORUM 2020 FinTech World Forum 2020 (FinTech Conference) is based in London UK Europe as one of leading fintech events for global financial and banking technology industry. For more info visit: http://fintechconferences.com Open story ↗ Covid-19: Barclays CEO signals end of the skyscraper and rebirth of the branch Finextra — As Covid-19-fearing, social-distancing conscious CEOs abandon packed skyscrapers, the humble branch, long expected to go the way of the dodo, could find a second lease of life as a place to house call centre workers and investment bank staffers, according to Barclays CEO Jes Staley. Open story ↗ Eight execs leave Revolut as virus fallout tests culture Financial News — People close to the digital bank told FN staff are under increasing pressure to meet targets Open story ↗ Silvergate Adds 46 More Crypto Clients in Q1 While Existing Customers Increase Deposit Levels Coindesk — Silvergate Bank added 46 crypto customers in the first quarter and saw fee income and deposits increase from those customers because of “Black Thursday,” according to its earnings report released before market open on Wednesday. Open story ↗ Bitcoin Wallets Are Adopting This Tech to Simplify Lightning Payments Coindesk — The Lightning network might be key to the future of bitcoin, but it still has a long way to go in terms of user experience. Open story ↗ How One Bank-Fintech Partnership is Working for Small Businesses Finovate — It’s no secret that small businesses have been struggling to secure funds with the Paycheck Protection Program (PPP). Banks have wrestled not only to determine eligibility but also with the clumsy online application process. Open story ↗ China starts major trial of state-run digital currency The Guardian — China will begin trialling payments in its new digital currency in four major cities from next week, according to domestic media. Open story ↗ Covid-19 will decimate fintechs, but those that survive will prosper Computer Weekly — The coronavirus will wipe out some fintechs, but those that get through it will share in the next growth phase of the industry's development Open story ↗ ‘I’m fed up with people saying banks are stupid’ American Banker — Chris Skinner, the author of "Doing Digital," defends banks' response to the coronavirus crisis and discusses why he thinks the tech giants won't be able to take market share away from traditional financial institutions. Open story ↗ Is Libra 2.0 good enough? Roll Call — Fintech Beat sits down with Cornell University’s Daniel Awrey and Cato’s Diego Zuluaga to debate Facebook’s changes to the Libra cryptocurrency —and whether consumers and the financial system are safer. Open story ↗ Is Brazil the next big thing in fintech? Mobile Payments Today — Among emerging economies, Brazil has long been the red-headed stepchild. Open story ↗ FinTech Weekly event calendar Fintechweekly.com Open story ↗

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UK cash withdrawals plummet 60% during Covid-19 lockdown

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