Friday January 4, 2019 –
Here are the new and noteworthy stories we have been following this week.
2019 looks to continue another lights-out year for fintech startups
The market cap of the Matrix FinTech Index grew 50% points in 2018.
NYSE operator’s crypto project Bakkt brings in $182M
The Intercontinental Exchange’s (ICE) cryptocurrency project Bakkt announced a $182.5 million equity raise.
https://techcrunch.com/2018/12/31/nyse-operators-crypto-project-bakkt-brings-in-182m/
U.S. Economy Fuels Boom in Consumer Debt
Americans are carrying record consumer debt but seem to be managing it well.
https://www.wsj.com/articles/u-s-economy-fuels-boom-in-consumer-debt-11546007400
Rewards Credit Cards Gained a Fanatic Following—Now Banks Are Pulling Back
Banks are facing high costs from consumers that have learned to game credit card rewards.
Chinese merchants refuse cash as mobile payments take off
China’s central bank is cracking down on merchants who refuse to accept cash and tries to stop Ant Financial and Tencent from dominating retail payments.
https://www.ft.com/content/a97d76de-035e-11e9-99df-6183d3002ee1
Spar Nord connects to digital services with IFTTT
Spar Nord offers its customers access to hundreds of digital services through collaboration with If This Then That (IFTTT).
https://www.finextra.com/pressarticle/76836/spar-nord-connects-to-digital-services-with-ifttt
China’s DiDi introduces in-app financial services
Didi Chuxing is adding mutual protection, personal credit and automobile financing products to its mobile app.
https://www.finextra.com/newsarticle/33150/chinas-didi-introduces-in-app-financial-services
BBVA reaches global digital tipping point
BBVA says that more than 50% of customers are now accessing products and services through remote electronic channels.
https://www.finextra.com/newsarticle/33152/bbva-reaches-global-digital-tipping-point/retail
New York to form cryptocurrency task force
New York State is to set up a cryptocurrency task force to study how to properly regulate, define and use digital currencies and blockchain.
https://www.finextra.com/newsarticle/33160/new-york-to-form-cryptocurrency-task-force/risk
Challenger bank Monzo has quietly begun working on a U.S. launch
According to multiple sources Monzo is working on a a U.S. launch.
https://techcrunch.com/2019/01/04/monzo-american-dream/
