#Innovation / PNC Launches A Fintech Startup Inside The Bank

PNC has created a startup subsidiary company, numo, that functions as an internal startup, complete with a pre-negotiated equity split between PNC and numo employees… The first development has been indi, a mobile phone-based bank account for gig workers. It offers tax calculations, tax savings goals and dynamic adjustments when users save ahead or fallContinue reading “#Innovation / PNC Launches A Fintech Startup Inside The Bank”

#PropTech / WeWork’s Adam Neumann Returns to Real Estate With Startup Investment

Adam Neumann is back to exploring one of his WeWork-related passions: the future of residential living. Neumann, WeWork’s co-founder who left last year during a floundering attempt to go public, invested $30 million in Alfred Club Inc., a startup that provides apartment buildings with services such as concierge-like staff and software to manage maintenance requestsContinue reading “#PropTech / WeWork’s Adam Neumann Returns to Real Estate With Startup Investment”

#DigitalBanking #CustomerCentricity / ‘We had the audacity to think big and execute on that bold vision’: Go ldman Sachs internal memo includes interview with outgoing head of consumer business, Harit Talwar

[Harit Talwar:] I joined because during the interview process itself, I fell in love with what I perceived to be the culture of Goldman Sachs. We’re not perfect, but we truly embody the spirit of One Goldman Sachs and believe in team work, excellence, and building an environment where the people bring the best ofContinue reading “#DigitalBanking #CustomerCentricity / ‘We had the audacity to think big and execute on that bold vision’: Go ldman Sachs internal memo includes interview with outgoing head of consumer business, Harit Talwar”

#DigitalAssets #LoyaltyProgrammes / JPMorgan to turn loyalty points into tradable assets

JPMorgan is working with fintech startup Affinity Capital Exchange to create a new class of financial assets based around the trading of loyalty point portfolios. Affinity Capital’s technology turns rewards programmes into a standardised, exchangeable currency that can be traded by fund managers and used as collateral to raise capital. The new asset class –Continue reading “#DigitalAssets #LoyaltyProgrammes / JPMorgan to turn loyalty points into tradable assets”

#FinTech #Innovation / The fintech barbarians are no longer at the gate – they’ve been invited inside

The paradigm of challengers and incumbents should be revisited in the light of widespread collaboration between the two, according to Tony McLaughlin of Citi and Mike Massaro, CEO of Flywire. McLaughlin uses the analogy comparing fintech disruptors as “barbarians at the gate” who were then invited inside the city for a cup of coffee… “ThereContinue reading “#FinTech #Innovation / The fintech barbarians are no longer at the gate – they’ve been invited inside”

#WealthTech / Fintech Jiko buys a bank

Jiko, a fintech startup offering an account where all customer deposits are turned into Treasury bills, has received the regulatory all-clear to buy a bank. Jiko… is led by former Goldman Sachs trader Stephane Lintner… Jiko is set to emerge from beta and launch its app-based account that immediately turns deposits into T-bills. When customersContinue reading “#WealthTech / Fintech Jiko buys a bank”

#FinTech / CB Insights – The State of FinTech Q2’2020 Report

Key takeaways: – The trend towards embedded fintech applications, or the integration of financial products by non-financial companies into their service offerings, is gaining traction around the globe and across applications. – The growth of open banking has continued to prompt investments into new bank technology providers, though legacy companies… also begun providing open bankingContinue reading “#FinTech / CB Insights – The State of FinTech Q2’2020 Report”

#OmniCommerce / Afterpay: What Retailers Are Now Learning To Do Differently

… not only are consumers trying new things, but many are increasingly finding that they like them, and want them to become permanent parts of their shopping journeys. That means retailers are waking up to the idea that they need not just a digital shopping portal, but an entire omnicommerce strategy that will require bothContinue reading “#OmniCommerce / Afterpay: What Retailers Are Now Learning To Do Differently”

#Innovation / ABN Amro joins with Techstars in startup hunt

The partnership will connect the Dutch bank with Techstars’ worldwide network of startup entrepreneurs… [ABN Amro:] “… Our aim is to be at the forefront of new technology in relevant ecosystems related to financial services, helping startups to become leaders in their field while building out our own leading position in innovation as well…” https://www.finextra.com/newsarticle/36476/abn-amro-joins-with-techstars-in-startup-hunt

#LendTech / India’s ICICI Bank uses satellite data for farmers’ credit assessments

It claims to be the first bank in the country to use satellite data in this way… Available in 500 villages across three Indian states… ICICI plans to scale up the service to a much larger 63,000 villages “shortly”. The bank says it has partnered with “agri–fintech companies” to develop the technology… it’s their spaceContinue reading “#LendTech / India’s ICICI Bank uses satellite data for farmers’ credit assessments”