Many banks have given up the fight and are working to get along with those fintech upstarts, but not regarding one area in particular: top-notch tech talent. When it comes to tech staff, the gloves are off, and banks are fighting to both recruit and hold on to the cream of the crop, recognizing how indispensable experienced professionals have become in the digital world.
It seems increasingly likely that the darkest days for Greece’s banks are now behind them. The European Central Bank (ECB) announced on June 22 that it will reinstate their access to its cheap funding operations as a reward for the damaging but necessary economic reforms that have been undertaken by the government.
With the number of reports suggesting that fintechs are bad news for banks, it may come as a surprise, that the opposite is in fact true. Fintechs may actually be the best thing to happen to traditional banks and the banking sector for a long time. No, really.
Traditionally, banks have provided up to 80% of the financing for the trading of commodities worldwide. However, since the financial crisis, an increase in regulation and accountability has forced many banks to repair their balance sheets, tighten their credit policy and adhere to a more punishing regulatory environment.
It is well known that credit booms generally end poorly and are followed by poor economic performance. But it is less clear what causes that poor performance.
Over the past few years, bitcoin has been gaining significant importance throughout the world. Indeed, the world’s leading cryptocurrency ended 2015 as the year’s best-performing currency, gaining a staggering 35 percent across the 12 months.
The ranks of traditional banks have been joined by a new generation of digital-only upstarts that promise all manner of exciting ways to manage your money or interact with financial advisors.
In December, UK bank executives breathed a sigh of relief after they all passed the annual Bank of England stress tests. It’s reassuring for consumers that financial organisations are far more able to survive another crisis now that they have
Consumers today undoubtedly have high expectations. They now demand access to the products, services and information they desire and need anytime and anywhere.
Over the past four years, we’ve witnessed something in the banking industry that we have not seen in more than 100 years: the rise of smaller, niche banks that are ready to service a new breed of consumer known as the millennials.