Many online retailers in the US were dealt a blow when the Supreme Court ruled in South Dakota v. Wayfair that states had the right to force retailers to collect sales tax on purchases to customers in their states even when retailers do not have a physical presence there.
Much has been made of the threat fintech upstarts pose to big banks but even bigger threats might lurk in the form of Big Tech and Telecom companies.
In the past several years, established financial services firms have increasingly sought to partner with or even acquire fintech upstarts, many of which have been encroaching on territory they used to control.
The market for consumer loans in the US is booming. According to data from TransUnion, last year, the total amount of consumer loans outstanding hit a record $138bn, a 17% jump from the year prior.
Anybody who has ever applied for a mortgage will be intrigued by Habito.
The financial services industry is one of the industries that has been most impacted by digital disruption, and 2018 saw numerous significant trends and developments.
Popular P2P payments service Venmo, which is owned by PayPal, handled over $12bn in payments in the first quarter of 2018, but going forward, its users will have one less option when they go to send money to a friend.
The financial services sector in 2018 is more competitive than it has ever been before.
From innovative fintech companies revolutionising the way that banking and payments are carried out, to Amazon and Facebook foraying into financial services, the pressure is on for traditional financial institutions to be more agile, more modern, and provide a better service in order to stay in the game.
Our latest ‘day in the life’ takes us clientside, into the diurnal rhythyms of Nathan Levi, CMO at TotallyMoney.
What does fintech demand of a CMO? Let’s find out….
If you can’t beat ’em, buy ’em.
For years, many large companies have employed that approach in their digital efforts with varying degrees of success. But in the world of fintech, it would appear that even if you can potentially beat ’em, some companies are still willing to buy ’em.
Singapore’s DBS Bank, the largest bank in Southeast Asia, is profiting from its digital investments in a big way.
At an investment conference, DBS CFO Chng Sok Hui revealed that the bank now generates double the income from digital customers as it earns from traditional customers.
Last year, Capital One, one of the United States’ largest commercial banks and credit card issuers, launched Eno, a digital assistant that allows customers to manage their accounts conversationally through SMS.
Now, Capital One has brought Eno to the browser through a new Chrome and Firefox extension that could prove very useful to Capital One cardholders.