According to Bloomberg, Google is working on its own blockchain technology in their cloud business; the distributed ledger would allow third parties to post and verify transactions and will also offer a white-label product for companies; Google has also been active in acquiring and investing in startups according to the source. Source
The market turmoil has sparked banks like JPMorgan Chase and Bank of America to try for further easing of certain...
Small businesses are becoming more anxious by the day with the crisis showing no signs of ending in the near...
Banks have historically made money on overdraft fees, out-of-network ATM fees, fees for not maintaining a certain minimum balance and more; this fee structure has helped give banks a bad name; big tech companies and fintech startups have garnered a better reputation for upfront fees for a simple service and transparency around other fees; “It’s important to let consumers understand what you’re offering, what the fee structure is — and be abundantly clear about it — and then you can build trust,” said Jay Shah, CEO of Personal Capital to TearSheet; studies show that customers are not turned off by fees, but are annoyed when they hear of free checking then see ACH transaction fees or overdraft fees; banks need to begin to understand what their customers want and how much they are willing to pay for it in a clear way. Source.
According to a recent Wall Street Journal report, costs associated with rewards credit cards increased an average of 15 percent during the...
Massachusetts’ Secretary of the Commonwealth William Galvin has been proponent of aggressively enforcing securities laws to digital asset firms; explaining...
Wall Street trading firm TrueEx is launching a derivatives platform for cryptocurrency and they have also entered into a partnership with ConsenSys; the partnership with ConsenSys will focus on building a benchmark for ether; the derivatives marketplace is pending review by the CFTC and is looking to list non-deliverable forward contracts for cryptocurrency. Source.
A recent paper explored how banks fared in the financial crisis, particularly how their adoption of IT played a role;...
Square’s Cash App, PayPal’s Venmo and Zelle have all reached out to the government to lend a hand in getting...
Tink just closed a €90 million funding round; now Tink is working with BNP Paribas on account aggregation, payment initiation...