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NEW BLOGPOST
"Such extreme introspection isn’t always readily found in a #bank’s public messaging, and the news last week that Deutsche Bank has actually opened a new digital factory in #Frankfurt whilst culling 30,000 jobs elsewhere in the company is an indicator that they may well mean it when they say “We don’t want to be driven by digitalisation; we want to be in the driver’s seat. ..." (read more)
#fintech  
To say Deutsche Bank is going through a rough patch is an understatement on par with astronaut Jim Lovell’s famous claim that Apollo 13 had “a problem” when one of the shuttle’s oxygen tanks exploded 200,000 miles away from earth. Since being hit with a $14 billion fine last month following a U.S. Justice Department investigation into mortgage-backed securities, the bank has culled thousands of jobs, seen share prices slump, and triggered widespr...
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Tim Cole an #Banken: "Vielleicht mal drüber nachdenken: Wie könnte ich mein eigenes #Geschäftsmodell kaputt machen! Macht Spaß und man könnte damit unter Umständen sehr erfolgreich sein." - Klingt banal, ist es aber nicht.
#Fintech  
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"But the need for central #banks to maintain public trust in their policies has increased as the evolution of #financial technology - or "#fintech" - gives the public an alternative to using cash, Hiromi Yamaoka, head of the BOJ's payment and settlement systems department, told Reuters. In April, the BOJ established a section in charge of fintech to offer guidance to banks seeking new #business opportunities. ..." (read more)
Digital currencies won't topple hard money printed by central banks any time soon, particularly in countries such as Japan with a solid, established financial infrastructure, a senior Bank of Japan official said on Tuesday.
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"“It’s critical for incumbent banks to map out diverse scenarios with some key questions in mind,” said Stefan Dab, a co-author of the report and the global leader of BCG’s transaction banking segment, in a press release announcing the new research. “How will payments behavior change over the next decade? How will control of customer engagement and brand image diminish as the Internet of Things evolves, as so-called open banking grows and as commercial clients interface with more third-party providers? ..." (read more)

#fintec   #banks   #payments  
The leading banks need to improve their customer service, maximize their security, minimize complexity and add value beyond payments if they want to survive and thrive, according to a new report by Boston Consulting Group (BCG). According to the report, which is the14th annual study of the global payments business, the leading banks have to […]
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"Two revelations emerged from the Association for Financial Professionals‘ 2016 Electronic Payments Survey. First is that use of paper checks by corporates increased, reversing the downward trend of check popularity seen in surveys past. The second is that the 1 percent increase in check use once again bumped the payment rail to the most popular payment method for corporates at 51 percent..."

#fintech   #payments   #banks  
Amid the rollout of Same Day ACH — in the midst of several other faster, digital payments initiatives and in a market where B2B payments seem to finally be getting smarter — the AFP’s latest research finding an uptick in corporate use of paper checks leads to one question: What the heck is going on? The […]
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"Ripple recently closed a $55m Series B and in today’s market, a Series B is a good proxy for momentum. The investors are mainly #banks, which makes sense as they will be the users.
More importantly, they are making the first live #payments on the network, talking about transactions completing in 20 seconds. ..."
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#crossborder  
Global Fintech Trends Analysis for Banks Insurance ScaleUps Investors
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NEW BLOGPOST
"Earlier this year, Finextra published a white paper in association with IBM highlighting the sheer volume of #investment being poured into combatting cyber-attacks globally. By next year, the global cyber #security market is expected to be worth over $120 billion – almost double the amount spent combatting #cyberattacks in 2011. The reason? #Cybercrime is rife, with 18 cyber-attacks occurring every second and affecting as many as 556 million victims each year... " (read more)
#Fintech  
They say progress always comes at a cost. Today, as the financial services industry continues to hurtle towards a digital future defined by mobile apps, 24/7 online services, and experimental technology, that cost is likely to be very high in the area of cyber security. Earlier this year, Finextra published a white paper in association with IBM highlighting the sheer volume of investment being poured into combatting cyber-attacks globally. By nex...
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"Der Standort #Frankfurt ist zwar gegenüber Berlin gemessen an den Löhnen und an den Mieten deutlich teurer. Auch ist der Arbeitskräftepotenzial im Vergleich zur Hauptstadt mit ihren gut 170.000 Studenten niedriger. Allerdings verfügt Frankfurt über eine hervorragende Infrastruktur und ermöglicht die engere Verzahnung mit klassischen Anbietern. ..."
#Fintech  
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Im Fintech-Bereich konkurrieren der traditionelle Standort Frankfurt und das hippe Berlin derzeit stark miteinander. Ein führender Player bringt die Mainmetrop
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"Fintech most #fintech firms are creating new versions of #payments, transactions, value exchange and value store. Some are very specific and some are highly innovative, but none of them are making us rip up the roads. In fact, nearly all are running on the roads, railways and airports that were built by the #banking system. They may be forcing the banks to upgrade those systems, as in the distributed ledger projects under way in clearing and settlement and payments, but a radical reconstruction and rebuild of the whole network is unnecessary. ..."
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The advance of technology doesn't mean everything changes for financial services overnight, or does it? Chris Skinner explains.
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"More than 80 percent of the experts, insiders, and industry leaders we surveyed said regulators simply don’t understand #fintech well enough to balance innovation with protecting consumers–and a majority said that a lack of a clear regulatory framework was the biggest obstacle to the industry. ..." (read more)
A survey of fintech experts for this special edition of The Agenda.
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"A key change is that non-bank service providers will have a clear legal right to access bank customers’ data, so long as they have the customer’s permission. In exchange, they will face more regulation, notably when it comes to data protection — a development that in turn should boost user confidence in the legitimacy and reliability of the services. The new rights would also apply to companies that compete with banks in the market for online payments.

According to Valdis Dombrovskis, vice-president of the European Commission, the updated legislation is aimed at “opening up the payment market to new technologies and more competition”, to the benefit of consumers and retailers...." (read more)
 
#fintech   #banking   #payments   #regulation   #EU  
Rule changes open up ways for consumers to bypass banking sector
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"Anhaltender #Stellenabbau und Filialsterben: Ist die Digitalisierung Schuld am Abbau bei klassischen #Banken? Die Frage mit “Ja” zu beantworten wäre wohl etwas zu platt, denn Banken schreiben satt 17-mal mehr Stellen aus als #FinTechs. Dafür wächst aber der Mitarbeiter-Bedarf der FinTechs monatlich um 4 Prozent, fanden die Betreiber der Meta­job­such­ma­schine Joblift bei ihrer Auswertung heraus... "
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[caption id="attachment_37184" align="alignright" width="350"] Joblift[/caption]Anhaltender Stellenabbau und Filialsterben: Ist die Digitalisierung Schuld am Abbau bei klassischen Banken? Die Frag...
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For consumers, the ability to pay electronically is simply expected. Anything, anytime, anywhere. For businesses, it’s a different story—it's slow, constrained, and costly. That has to change.
Introduction
What is Traxpay?
A faster, safer, smarter way to do B2B financial transactions. A secure electronic payment method for B2B commerce, Traxpay breaks the barriers to real-time, 24/7 transactions and trusted trade. And by connecting full, rich data with each payment, it makes settlement fast and simple. It’s the killer app for generating new revenue streams, accelerating cash flow, and protecting against losses. With Traxpay, you always have complete control and visibility into your cash position.

Why do you need Traxpay?

Whether you are online or offline, Traxpay opens up new possibilities for your business. Now you can handle B2B financial transactions on your terms—in real-time, anytime, anywhere—without the excessive fees, missing data, or risk of losses. You have complete visibility into every aspect of every transaction. You can collaborate effectively with trading partners. The constraints to optimizing cash flow are simply gone. Suddenly, business is… simple.

How does Traxpay work?
Traxpay was designed to fit into your existing workflows. There is no software to download, and it works via API with any web browser, online portal, or directly through your ERP system. See a demo at www.traxpay.com.