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Banks using APIs will accelerate financial services innovation
In what has become a classic story in the financial technology space, the start-ups that were born out of a professed desire to disrupt the banking industry have evolved to rely on and partner with incumbents for distribution, access to investment and loan capital, and scale. In areas as diverse as lending, investing, deposits, and [...]
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Ant Financial set to purchase MoneyGram for $880 million
Ant Financial has stepped up its international expansion by reportedly buying US money-transfer service MoneyGram International for $880 million. The $880 million acquisition marks Ant’s first deal with a US-listed company, as it begins to explore markets beyond a home arena it already dominates. The transaction will connect MoneyGram’s network of 2.4 billion bank and mobile [...]
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Digital disruption – the year the Chinese FinTech dragon roared
2016 was the year when the Chinese FinTech dragons roared and some previously feted Western FinTech leaders wilted. In its first Digital Disruption GPS report by Citi, they argued that China was very important to the FinTech story (March 2016. In this follow-on report, Citi follows the venture capital (VC) and corporate investments money trail to revisit [...]
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When the alternative goes mainstream…
When bank-account funded payments, real-time payments, mobile and other digital payments are actually the default way to pay in many countries, the term ‘alternative’ seems a misnomer. We examine current and future trends in how the world chooses to pay and be paid, and the implications for customer value propositions and legacy infrastructure. Payment habits [...]
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90% of UK unaware of Open Banking – would not consent of personal data sharing
Research from Equifax has revealed that 90% of UK consumers have not heard of the Open Banking initiative, with 45% of respondents then going on to say that they are not likely to use Open Banking when it becomes available. When asked about sharing personal data through Open Banking, 60% said they would not consent [...]
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