BFC Bulletins Monthly News Digest

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.  Around the World: Boston Consulting Group (BCG) has a released a report outlining how the COVID-19 pandemic is expected to impact financial institutions and includes measures that financial institutions should undertake …

Emmanuel Daniel, founder of The Asian Banker, discusses how commercial financial institutions around the world, by and large, failed consumers during the COVID-19 pandemic as well as the emerging new standards upon which commercial financial institutions are likely to be assessed in a post-COVID-19 world. Libra: everything you need to …

Panel experts Mary Mack (Senior Executive Vice President and CEO of Consumer and Small Business Banking at Wells Fargo), Daniel Sheehan (Chairman and CEO of Professional Holding Corp and Professional Bank) and Chris Zingo (Executive Vice President and General Manager of the Americas at Finastra) join moderator Michael Piwowar (Executive …

Philip Augar, financial expert and author on financial systems, connects with Andrew Hilton and Jane Fuller of the Centre for the Study of Financial Innovation to discuss the future of banking systems, especially how they respond in times of crisis. Infographic: the collaborative economy Mastercard takes blockchain mainstream with API …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.  Around the World: Swiss financial holding UBS Group is planning to create a venture fund of USD 10-20 million for investments in FinTechs. According to a study by Swedish …

We’re now living in a new macroeconomic narrative, one with major changes taking place nearly every day. To survive in such conditions, it’s necessary to be flexible. Unsurprisingly, FinTechs are already starting to adapt to the new realities. Here’s 5 important things FinTechs are doing to survive and come out …

Despite a past of underwhelming collaborations between FinTechs and traditional financial institutions, the COVID-19 pandemic is likely to forge deeper relationships between the two as many legacy systems have proven themselves unfit for a digitally-powered future. As businesses and consumers emerge from the pandemic in profoundly different ways, traditional financial …

According to a Deloitte report on the future of banking, the COVID-19 pandemic may end up resulting in new opportunities for FinTechs in the long term. In particular, the report notes that, if FinTechs reexamine their business models for a post-COVID-19 world, they can take advantage of an increased appetite …

Although the COVID-19 pandemic has brought about difficult times for many businesses, many FinTech startups are starting to see a possible silver lining in its aftermath. The pandemic has pushed consumers to increase their use of contactless payment methods as well as their use of online platforms for making purchases. …

As with most businesses, startups are preparing to deal with the long-term impact of the COVID-19 pandemic and associated measures to reduce its spread. During the recent How are Startups Gearing Up for the Post-COVID World online conference, entrepreneurs shared their thoughts on what the pandemic will ultimately mean for …

The COVID-19 pandemic is impacting nearly every type of financial service provider, and FinTechs are no exception. Most FinTechs, independent of what types of products and services they offer, are being hit on two fronts. On the one hand, revenues are plummeting as consumers tighten their own belts and face …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.  Around the World: Xiaomi has partnered with China UnionPay and GR Credit Card to introduce the Xiaomi GF payment card. The card allows users to accumulate bonus points that they can …

Although the full impact of COVID-19 has yet to be determined, it is clear that business will not be as usual for some time. In response, many financial institutions are taking action now to help businesses get through the fallout and recovery of the COVID-19 pandemic. Here are 5 of …

Many FinTechs lenders find themselves in a precarious position as uncertainty mounts over whether or not millions will be able to pay back their loans due to the impact of COVID-19. This is especially concerning for FinTech lenders that provide personal loans, which tend to be the lowest priority for …

COVID-19 has caused a significant downturn in economies around the world, impacting the personal finances of millions worldwide. This, in turn, has had a major effect on P2P lending. In fact, many P2P investors have made the equivalent of a bank run on P2P platforms to recover their funds, leading …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.  Around the World: Samsung is partnering with SoFi for the development of Samsung’s own debit card. The card, which is scheduled for release this summer, will interact with the Samsung Pay …

Thus far, the global payments industry has proven resilient to the effects of the COVID-19 pandemic, but the industry is far from immune. In the short term, payment providers will need to prepare to adjust to new realities by adapting their operating models to be more flexible. The long-term impact …

So-called “black swan” events throughout history have shown the tendency to be the instigators of large-scale change for the better in many industries. The COVID-19 pandemic has the potential (and likely will) be the instigator that brings about a brighter future for (business-to-business) B2B payments as millions of businesses are …

While the COVID-19 pandemic has been a boon for many services (e.g. remote work apps, e-learning tools and e-commerce solutions), the mobile payments industry has seen a huge plunge in numbers due to lockdowns, physical distancing measures and people reducing their discretionary spending. At the same time, retailers that have …

The COVID-19 pandemic has affected each industry in a different way, providing numerous new challenges to overcome as well as unique opportunities to further develop. For many financial institutions (especially brokers), the pandemic environment has meant that it is much harder for them to stay on top of things. Although …