Friday August 17, 2018 –
Here are the new and noteworthy stories we have been following this week.
The New Business Banker: A Private-Equity Firm
PE firms are increasingly lending to businesses and competing with banks in the process.
https://www.wsj.com/articles/the-new-business-banker-a-private-equity-firm-1534075200
Banks and Retailers Are Tracking How You Type, Swipe and Tap
To fight fraud, a growing number of banks and merchants are tracking visitors’ physical movements as they use websites and apps.
https://www.nytimes.com/2018/08/13/business/behavioral-biometrics-banks-security.html
EMVco releases 3D-Secure test platform
EMVCo announces the availability of the full EMV 3-D Secure Test Platform, which enables the functional testing of EMV 3DS solutions.
https://www.finextra.com/pressarticle/75075/emvco-releases-3d-secure-test-platform
‘Fintechs’ sound cautious note on offer of U.S. bank charter
Online lenders are cautious on the fintech charter given concerns over possible legal challenges and requirements.
Goldman Sachs, Wall Street Banks Sink $32 Million into Enterprise Blockchain Startup
Axoni raises $32 million in a funding round led by Goldman Sachs and Nyca Partners with participation from several banks and VC’s.
Little known payments firm Wirecard overtakes Deutsche Bank
Wirecard’s valuation passes Deutsche Bank as it becomes the fourth most valuable financial service company in Germany.
https://www.dw.com/en/little-known-payments-firm-wirecard-overtakes-deutsche-bank/a-45086303
Venmo Competitor Zelle Wants to Let You Pay Businesses, Too
Zelle is working on SMB payments as it seeks to broaden its utility beyond P2P payments and find a path to profitability.
NPCI launches new-look UPI with overdraft facility
NPCI launches UPI 2.0 with an expanded set of features and functionality to facilitate consumer payments at merchants.
Santander Holdings released from three-year-old enforcement action
Santander Holdings USA is released from enforcement action as the Fed lifts its written agreement.
Smartphone-only bank Monzo eyes billion-pound valuation
New funding puts Monzo’s valuation at $1 billion plus.
What You Need to Know About Safe Deposit Boxes
Safe deposit deposit boxes are still very relevant for storing valuables and documents – many banks offer them and many customers use them.
