Two of our favorite Forbes fintech pundits weighed in on the potential of the Apple Vision Pro headset to transform digital banking in the not-to-distant future.
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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The states at the forefront of consumer privacy legislation Global regulators fear...
Hyperledger has added seven new members bringing its total membership to 135; new members include CollectorIQ Inc., Korea Exchange, Shanghai Onechain Information Technology, Shenzhen Forms Syntron Information, The State of Illinois, The Netherlands Organization for applied scientific research (TNO) and 1worldblockchain; the new members will help to support the consortium's goal of developing blockchain solutions and creating an open standard for distributed ledgers. Source
Not surprisingly, Citibank saw an increase of digital banking channels through Q1...
After launching as savings product two years ago the app only bank is approaching £1bn ($1.3bn) in deposits; after disclosing in March they were at 17,000 customers and over £500mn ($663mn) they have seen a significant acceleration in growth; they also reported growth in small business loan applications and mortgages. Source.
Artificial intelligence is one of the hottest topics in fintech today; while...
The Royal Bank of Scotland is closing 158 branches in the UK in an effort to reduce costs; it has continued to struggle since the financial crisis reporting nine consecutive years of losses; the firm has been increasingly integrating automation to cut costs and says it will make a decision on its robo advisory service for mortgage lending by the third quarter; the robo advisory service offers customers advice and insight that helps them decide on a mortgage loan product, also giving them an option to connect with a human advisor at any time during the process. Source
In a letter to the board at OnDeck, Marathon Partners has outlined changes they want to see enacted; Marathon believes OnDeck has put a premium on growing their originations instead of getting costs under control and growing shareholder value; additionally they have been disappointed with OnDeck's corporate governance and executive compensation practices; the private equity firm recommends the lender cut costs to get them under control and seek the sale of the company to a stable partner. Source
As the CBOE bitcoin futures product goes live there are lingering questions with the exchange where they will base their pricing; Gemini is run by the Winklevoss twins but has had a number of issues including low volumes and system outages; Gemeni is currently ranked 14th according to CoinMarketCap; while well connected because of the Winklevoss twins critics worry they can be potential targets for price manipulation; as the futures market goes live there will be a lot of interest to see how this plays outs. Source.
More than 6 million Bank of America customers are now using the...