Issue 285 · Oct 8, 2020 Weekly edition · 3 min read

Fintech News

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Fintechs Should Sell Financial Health, Not Financial Services

In the UK, last year’s report on “Consumer Priorities for Open Banking” by Faith Reynolds and Mark Chidley (which is, by the way, an excellent piece of work and well worth reading) set out just why it is that open banking by itself delivers quite limited benefits for consumers.

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In this issue · 10 items

A Bedrock Approach To Asset Diversification Is Failing - Bitcoin May Have The Answer Forbes — A core investment strategy is facing an unprecedented threat, and the solution may be to buy bitcoin. Open story ↗ Visa connects with Stripe for B2B payments Finextra — Visa has struck a deal with Stripe to enable buyers on Visa Payables Automation to pay suppliers who are unable to accept digital payments through the use of a virtual Visa card. Open story ↗ PPP Scammers Made Fintech Companies Their Lenders of Choice Bloomberg Businessweek — The government turned to web-based lenders to get money out quickly, without too much paperwork. Open story ↗ Investing In Women Isn’t A Fucking Charity. Medium — It’s a smart, strategic business move, and more urgent than ever to invest in women. Open story ↗ Prestigious medical journal calls for US leadership to be voted out over Covid-19 failure CNN health — In an unprecedented move, the New England Journal of Medicine on Wednesday published an editorial written by its editors condemning the Trump administration for its response to the Covid-19 pandemic -- and calling for the current leadership in the United States to be voted out of office. Open story ↗ The Best Blockchain University Programs Actually Pay Students to Learn Coindesk — Out of all the universities with blockchain education programs, two stand out by offering students paid opportunities to learn by working. Open story ↗ FDIC warns banks of consequences of not adopting technology finLedger — FDIC Chairwoman Jelena McWilliams warns relying on legacy systems will result in lost customers Open story ↗ Can Two Legacy Banks Become a Digital Banking Leader? The Financial Brand — In late 2019, BB&T and SunTrust combined to become the 6th largest bank in the country, serving 10 million households. Looking at the strategic and financial benefits of the merger, the mission was to preserve the strong cultures of the legacy organizations, while using the combined scale and cost savings to build best of breed systems, processes and digital capabilities. Open story ↗ Artificial intelligence and machine learning: A new blueprint for the fintech industry IT Pro Portal — Artificial intelligence and machine learning under utilized by companies. Open story ↗ Citigroup backs fintech company Genesis Reuters — Citigroup Inc C.N has made a strategic investment in Genesis Global Technology Limited, a London-based startup that develops technology to make it cheaper and faster for financial firms to build applications such as trading systems, the companies said on Monday. Open story ↗

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Fintechs Should Sell Financial Health, Not Financial Services

Finance intelligence, minus the noise.

Good questions. Clear answers.

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