Banking

  • Let’s Be Honest About The Problems With Blockchain And Finance Crunch Network

    Let’s Be Honest About The Problems With Blockchain And Finance

    Strange times we live in. The world’s biggest financial players and analysts are buzzing about an invention that became famous partly by promising to destroy them. In just a few months, blockchain went from the cause célèbre of crypto-anarchists and tech evangelists to the biggest idea in mainstream banking. Read More

  • Can Fintech Fix Financial Services? Crunch Network

    Can Fintech Fix Financial Services?

    A review of the new Michael Lewis movie The Big Short describes a scene during the 2008 financial crisis in which renters were “kicked out of their homes because their landlord didn’t pay the mortgage, even though they were making their rent payments in full.” It serves as one of many examples of how our malfunctioning financial system produces fundamentally unfair outcomes. Read More

  • Three Ways To Stay Current In The Financial Services Industry Crunch Network

    Three Ways To Stay Current In The Financial Services Industry

    The financial services industry is a cutthroat market with razor-thin margins, making it one of the toughest industries in which to generate profit. Yet, for fintech startups, it is one of the least chartered, most lucrative sectors. Accenture recently reported that fintech investments grew 201 percent in 2014 compared to the previous year. As a comparison, overall venture capital investments… Read More

  • J.P. Morgan, OnDeck And The Future of Alternative Lending Crunch Network

    J.P. Morgan, OnDeck And The Future of Alternative Lending

    Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28% single-day spike in OnDeck’s share price, this announcement clearly is a big deal to one of the leading FinTech companies today, and has major implications for the future of alternative lending. Read More

  • Interest Rates And Rating Interest Crunch Network

    Interest Rates And Rating Interest

    The tech and venture corners of the universe are large and rising. There are more people in the business and more people interested in the business than usual. Perhaps more than at any other time, there is huge general and insider attention. As much as tech’s ranks have grown, the space remains unusually insular and inwardly focused. The larger a sector grows, the greater its influence… Read More

  • UK Mobile-Only Atom Bank Picks Up $128M Led By BBVA, Owner Of Simple In The U.S.

    UK Mobile-Only Atom Bank Picks Up $128M Led By BBVA, Owner Of Simple In The U.S.

    All major banks today offer a way for customers to bank online, but this is not stopping a rush of startups emerging to build new, mobile and online-only banks from the ground up. In one of the latest developments, Atom Bank, a UK mobile banking startup and app aimed at hip, youthful consumers that has yet to launch its commercial service, is today announcing that it has closed an £82… Read More

  • Banks Should Prepare For The Internet Of Things Crunch Network

    Banks Should Prepare For The Internet Of Things

    It is widely acknowledged that the Internet of Things (IoT) will have a huge impact on nearly every industry, and financial services is no exception. Gartner estimates that connected devices will reach an installed base of 25 billion units by 2020, with an annual compound growth rate of 35.2 percent from 2013-2020. Read More

  • Why Fintech Startups Aren’t Killing Banks — Yet Crunch Network

    Why Fintech Startups Aren’t Killing Banks — Yet

    “Fintech” is one of this year’s most ubiquitous buzzwords; it has spawned any number of colorful infographics about the future of finance and banking. Some of these are merely a collection of logos, while others represent a more structured attempt to classify this new generation of players taking on financial services. All, however, convey the same idea: Tech is coming… Read More

  • Leveraging Technology To Make Credit Credible Crunch Network

    Leveraging Technology To Make Credit Credible

    The small-dollar credit (SDC) market — think payday and auto-title lending — is ripe for innovation and disruption. Most of the $44 billion industry consists of high-cost, low-quality products that lead people into cycles of repeat usage and mounting debt. Regulatory burdens, reputational risk and the tough economics of making small loans profitable have limited the supply of… Read More

  • How Fintech Can Win On Financial Crime Crunch Network

    How Fintech Can Win On Financial Crime

    Juan Zarate, a former Treasury official and now adviser to Coinbase, writes in his book Treasury’s War that “financial warfare…has started to form a central part of international security strategies.” By understanding the financial networks underpinning drug cartels, terrorist organizations and rogue nations, U.S. law enforcement and the Treasury Department have been… Read More

  • Are Banks Destined To Become The Next “Dumb Pipes”? Crunch Network

    Are Banks Destined To Become The Next “Dumb Pipes”?

    It seems like there are a lot of folks in the popular media talking about the future of financial services these days. In particular, the growing competition banks face from a new crop of technology companies who are meticulously chipping away at their business by “unbundling” many of their bread-and-butter banking services. Read More

  • Bank Loans Are A Better Financing Option Than You Might Think Crunch Network

    Bank Loans Are A Better Financing Option Than You Might Think

    Today’s startup scene is all about raising VC money — as much as possible, as fast as possible. The market celebrates VC fund-raising, cheers unicorns and makes it seem like VC-backed startups are the holy grail of innovation. And so my fellow entrepreneurs were somewhat surprised to learn that when my VC-backed startup needed another cash injection, I resorted to the oldest trick… Read More

  • The Blockchain Might Be The Next Disruptive Technology Crunch Network

    The Blockchain Might Be The Next Disruptive Technology

    To process a transaction, you need first to make sure the sender owns the asset he wants to transfer, and make sure he will not trade it twice. In the blockchain, information is stored in blocks that record all transactions ever done through the network. Hence, it allows validating both the existence of assets to be traded and ownership. Read More

  • Online Bank Simple Ditches All Fees

    Online Bank Simple Ditches All Fees

    When the online banking service Simple got started, one of its promises to customers was that it would eliminate many of the excessive fees that traditional banks charge while also offering an improved and mobile-optimized banking experience. However, while Simple certainly did away with a number of the most common banking fees – like maintenance fees, overdraft fees, or minimum… Read More

  • How The Blockchain Can Aid The Effectiveness And Use Of Complementary Currencies Crunch Network

    How The Blockchain Can Aid The Effectiveness And Use Of Complementary Currencies

    The blockchain provides the foundation to design complementary currencies that embellish community relationships, drive regional economic growth and encourage self-sustainability. The local multiplier effect is the underlying benefit of using complementary currencies. The local multiplier effect occurs when one form of economic activity affects another. Read More

  • Lessons From An Advertising Past Crunch Network

    Lessons From An Advertising Past

    The Lending Club IPO was a watershed moment for marketplace lending. One of the largest U.S. public Internet offerings ever, its success makes crystal clear that peer-to-peer lending is not only here to stay, but is poised to grow enormously. With this stamp of validation behind it, the next question is: What lies ahead for the future of marketplace lending? Read More

  • Biometric Security: From Selfies To Walking Gaits Crunch Network

    Biometric Security: From Selfies To Walking Gaits

    The payments industry, facing the risk of increasingly sophisticated cyber-attacks and various types of credit card fraud, has begun incorporating various types of biometric technology to enhance security and prevent breaches. As recently reported, MasterCard is launching a facial recognition payment service based on “selfies” taken on a smartphone. Read More

  • Capital One Acquires Oakland-Based Design And Development Firm Monsoon

    Capital One Acquires Oakland-Based Design And Development Firm Monsoon

    Capital One has now made another acquisition aimed at improving its product design capabilities with today’s announcement that it has bought Oakland, California-based Monsoon, a design studio, development shop, marketing house and strategic consultancy. The 40-person Oakland team, which has done work developing apps and sites for companies like Yammer, Zazzle, the NBA, HP, Cisco… Read More

  • Ascribe Raises $2 Million To Ensure You Get Credit For Your Art

    Ascribe Raises $2 Million To Ensure You Get Credit For Your Art

    Digital scarcity is an oxymoron. Unless it isn’t. Thanks to a recently funded startup called Ascribe, artists and writers can now create unique copies of their work that can be bought and sold and cannot, in theory, be duplicated. The founders, Bruce Pon, Trent McConaghy, and Masha McConaghy have experience in banking, hardware, and curation. Masha, a Ph.D. from the Sorbonne, curated at… Read More

  • Experimenting With Virtual Reality, Financial Services Enter The Matrix Crunch Network

    Experimenting With Virtual Reality, Financial Services Enter The Matrix

    “You take the blue pill –- the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill -– you stay in Wonderland and I show you how deep the rabbit hole goes.” Morpheus and The Matrix introduced virtual reality (VR) to a mass audience, and the technology — once largely the domain of the entertainment industry — is… Read More

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