Sam Bankman-Fried's FTX crypto exchange said it is not in talks to acquire Robinhood Markets Inc , after a report on Monday claimed the exchange was exploring such a deal.
BankProv, has announced with CrossTower, one of the world's fastest and leading trading platforms and digital asset investment firms
UK based startups and big banks have been pushing their online investment advisors through ads as they try to gain new clients; after seeing some of the startups have early success big banks started to get into the market this past year; the upcoming ISA deadline on April 5th has companies pushing their marketing spend in recent months with hopes it will pay off in new customers and cash. Source.
Banks have begun to implement new technologies to help verify who the customer is, though the new GDPR rules in Europe could complicate usage; the General Data Protection Regulation, which will restrict how companies collect and store data, allows for customers to ask for their data to be removed and non compliance results in huge fines; banks have started to slowly add new technology but they are still figuring out where to limit storage; new companies are trying to sell services into bank that allow them to collect information but store it in a certain way to be compliant; with new technology being developed so rapidly, governments need to ensure they keep up with innovation and clearly tell the market how to comply. Source.
GlobalData research reveals which banks are best placed to benefit from ESG disruption within the retail banking sector
European Banks have increased advertising for IT and engineering roles by more than 10 times in the last 3 years;...
Banks have started to use their customers as product developers as the look to make the banking experience more personalized;...
Banks have historically been the guardians of customer information, but that has started to change with open banking; opening up information to third parties via customers has led banks to think more and more about security breaches; Now it’s not just about building a wall and not letting anyone in,” said Ram Bose, global retail banking consulting leader at Genpact, to TearSheet. “It’s about building a filter or strainer that lets some things in or out and not other things.”; the UK has regulations that mandate the sharing of info but the US has only set out standards and banks have been doing one off deals; new technologies like AI and machine learning can help to better secure agreements when banks are working with 20 or more potential partners; it is early days but banks can help to set up the standards they use by working together with fintechs and regulators. Source.
The Fed took the unprecedented step of cutting rates to near zero to help ease the blow of Coronavirus and...
Barclays’ paper sets out a methodology for the mitigation of potential fragmentation risk presented by central bank digital currency (CBDC), through an architecture that places CBDC and commercial bank money on a similar footing.