In this episode
David is back! He and Aden are joined by regulars Liz and Sarah for the news.
This week the team take on The FCA’s cohort 3 and reveals cohort 2 for their sandbox; Amazon flexing it’s financial services muscles; and the “demise of a fintech darling” as Monetise is to be acquired by Fiserv for £70million, when it was previously valued at £2billion.
They also ask “what the hell is Zelle?” – the instant transfer app taking the US by storm, a key rival of Venmo, a product of six banks working together with 86million instantly available customers, it looks set to make big waves. The team also tackle Uber upheavals, and the ongoing sexism disputes threatening to tear the company apart, leaving it currently without a CEO, CTO or COO – is this the beginning of the end for them? Even if it’s not, being the “Uber of banking” may no longer be a thing to aspire to.
They also discuss what is the future for the small town bank branches and is honesty the best policy?, as Monzo sends out open communications explaining the need to verify 20,000 customer accounts or else to shut them down.
And finally… Potcoin Dennis Rodman and North Korea – is this a movie waiting to happen?
- Sarah Kocianski, Senior Research Analyst Fintech at Business Insider UK
- Elizabeth Lumley FinTech commentator & Author of girl-disrupted.com
News this week
- FCA – Financial Conduct Authority provides update on regulatory sandbox – Link
- Reuters – Amazon lent $1 billion to merchants to boost sales on its marketplace Link
- Finextra – Fiserv to acquire Monitise for £70 million – Link
- New York Times – Cash Faces a new challenger in Zelle, A mobile banking service Link
- BizJournals – Bank of America launches new high-tech financial centers around U.S Link
- The Guardian – As we wave goodbye to cash, ATMs have had to get a whole lot smarter Link
- Finextra – Monzo may have to freeze some accounts under new money laundering rules – Link
- The FT – Deutsche Bank wealth arm targets Asia super-rich Link
- New York Times – Uber embraces major reforms as Travis Kalanick, steps away Link
- New York Times – David Bonderman resigns from Uber board after Sexist remark – Link
- The Register – Ta-ta, security: Bungling Tata devs leaked banks’ code on public GitHub repo, says IT bloke Link
- FNLondon – Email hoaxer catches out top brass at Citi and Goldman Link
- The Verge – A cryptocurrency for weed is sending Dennis Rodman back to North Korea Link