Citi Wins Open Banking Award For Bringing Consumer Convenience To Corporate Treasury
#Citi has brought the #convenience of single sign-on to #corporate #treasury.
Tom Groenfeldt – Financial Technology
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Ant Financial Sends Out Open Letter to Woo MoneyGram
Ant #Financial really, really wants to buy #MoneyGram: just take a look at the #open #letter it issued to the money transfer service this morning. As a leading digital payments company, Ant Financial’s users are global and increasingly looking to transfer money around the world – which is what MoneyGram does best, the letter opens. […]
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Stripe Opens Up Atlas for U.S. Startups
The $ 9 billion payments startup #Stripe just relaunched #Atlas–a portal that automates many aspects of establishing an e-business, such as bank account opening, payments, or share issuance. The portal first launched as an “experiment” in February of last year, according to Atlas program lead Taylor Francis. Back then, the portal was open to entrepreneurs outside of […]
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Are Banks The New Department Stores Of Finance?
Both branch banking and #department #stores require some re-invention, reduction in numbers or smaller footprints to survive in the face of online competition.
Tom Groenfeldt – Financial Technology -
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Identity Fraud Hits Record High in 2016
More than 15 million people were affected by #identity #fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. The identity fraud incidence rate increased by 16%, a #record #high since the company began tracking identity fraud in 2003. Fraudsters successfully adapted to net two million more victims last year, compared to 2015. […]
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Monzo Gets Full U.K. License, Looks to Expand to EU
Digital-only bank #Monzo just received its #full banking #license from the United Kingdom. This means that the bank can start rolling out full current accounts to its customers in the U.K., providing them with all of the benefits of a traditional bank account. These full accounts are not subject to the same restrictions as the […]
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IBM And Hyperledger Launch Enterprise-Ready Blockchain
#Blockchain is moving into commercial use faster than many predicted. IBM said the pull from clients has been greater than any tech innovation since the internet.
Tom Groenfeldt – Financial Technology -
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What’s the best anti-money laundering and know your customer approach for your business?
In this series, we’ve looked at new challenges financial firms face with regard to anti-money #laundering and #know your #customer regulations (AML/KYC). Our paper, Anti-money laundering and know your customer programs: Sustainability through managed services, and the companion SlideShare consider the various challenges facing firms. We hone in on workforce challenges, in particular, in Leveraging enhanced talent development programs to increase anti-money laundering workforce effectiveness.
There’s good news! In this series we’ve explored several options and alternatives for building a strong AML/KYC program and workforce, whether using home-grown talent, managed services or virtual help.
The question, though, is: How can an enterprise choose the #best, most appropriate solution for the set of concerns it faces? Should a particular process be handled by robotic process automation (RPA), a managed services team or an internal resource?
Continue reading the post What’s the best anti-money laundering and know your customer approach for your business? on Accenture Banking Blog.
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Chase Spent $600 Million on Fintech Deals in 2016 [Video]
$ 600 #million of JP Morgan #Chase’s $ 9.5 billion #technology spend in #2016 went to #fintech solutions, and given the company’s 2016 results, it seems like money well #spent. According to the company’s Annual Report 2016, released today, the bank’s spend on fintech included improving its mobile and digital services. Chase ended the year with 26 […]
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How Much Does It Cost to Shift Customer Behavior?
Mobile wallets have failed so far because they haven’t offered customers a strong enough incentive to use them versus cards. The exception, Starbucks, offers free coffee, but it did that with its gold cards too. LevelUp, into which Chase poured $ 10 million in December, offers its loyalty-heavy solution to merchants as well — spend $ 50, […]
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