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Motive Partners - Sunday Brainfood

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Imran Gulamhuseinwala OBE (Trustee, Open Banking Implementation Entity) commenting on the banks’ chal
 
January 13 · Issue #125 · View online
Brainfood
Imran Gulamhuseinwala OBE (Trustee, Open Banking Implementation Entity) commenting on the banks’ challenges of complying with the Open Banking Standards and the positive progress so far:

“They have worked hard to implement the Standards despite many challenges and an ambitious timescale. Yet already we have seen some impressive early signs of new technologies powered by Open Banking – even though we are only mid-way through our roadmap with lots more to come.” Imran added that Open Banking has transformed the financial industry into an “emerging dynamic, vibrant and developing ecosystem – an ecosystem which is rapidly becoming more sophisticated and expansive in its coverage. But with the line of sight we have into the Open Banking ‘pipeline’, this is going to considerably ramp up in 2019.”
 
 
Mark Bailie (RBS former COO and Bó CEO) commenting on RBS’s recent investment in challenger bank Loot:

 “Loot is a really exciting brand and one that we’re proud to be associated with. Through its innovative use of technology and intention to change the status quo, it’s quickly built a following of loyal customers, with potential for rapid future growth.”


Ollie Purdue (Founder & CEO, Loot) commenting on the RBS and Bó partnership:

“RBS and our existing investors are fully committed to our company mission to help young people know more about their spending so they can do more with their money. RBS is fully aware and supportive of our existing strategy… The team at Bó are building a brand new bank at the same time as we are scaling Loot. This means there are a lot of synergies and opportunities for the two companies to work together now and in the future.”

Motive Podcasts
Last week’s podcast we heard from Howard Sears (Executive Chairman, Astuta and Dashly) and this week on our 45th podcast of the series, we had a fascinating discussion with Steve Evans (Editor-in-Chief, Artemis and ReinsuranceNews)
The Future of Finance by Motive Labs on Apple Podcasts
The Future of Finance by Motive Labs on Android
Upcoming Industry Events
Financial Services
Google gets go-ahead from Central Bank for payments
US bank customers enter Glassbox’s digital world of pane
Accenture ups wealth game with Orbium acquisition
IBM bags $540m outsourcing deal with Nordea
BBVA invests in invisible payments startup Grabango
Capis acquires FinTech Securities
Fiserv outrageously happy with outsourcing wins
RBS secures 25% stake in digital current account Loot
Wall Street firms plan to take on Nyse and Nasdaq with new exchange
Bank of America and Morgan Stanley plan rival stock exchange
Kuwait’s central bank goes live with TCS Bancs
BNY Mellon’s Pershing has wealthtech thing for Objectway
Central banks proceeding with caution on own digital currencies
Investment Association opens second FinTech cohort
FinTech
Open Banking year one: Insights from the CMA9 and more
Alipay powers Pakistan’s “first” blockchain-based cross-border remittance service
N26 becomes Europe's most valuable FinTech startup
Europe bets on bug bounties in fraud fight
Video: Fraud Orchestration with FCase
Chetwood Financial gets a full UK banking licence and new cash
Paytech firms Nets and Concardis finalise a merger
Wirecard releases Visa card for Chinese tourists
Indonesia’s KinerjaPay collects $200m funding
Ipagoo introduces Open Banking to the airline industry with IATA Pay
Banque Palatine signs with AxiomSL for AnaCredit compliance
Milleis Banque picks Wolters Kluwer for regulatory compliance
Regulation
Why Big Banks are losing to tech giants over Open Banking
How France’s regulator is leading the way in FinTech innovation
Expanding the Sphere of “Regtech” to Procurement and Supply Chain Technology
6 trends in FinTech and its regulation
Norway's government gives green light to FinTech sandbox
Key Hires
Powered by JBM Consulting - leading financial services & technology-focused boutique search firm
Standard Chartered appoints global digital head
Sainsbury’s Bank shops around for new CEO
Visa hires Mary Kay Bowman from Square
India central bank convenes digital payments panel
Nicolas Shamtanis Heads to APAC, Joins Exness as CSO
Goldman Sachs Hires Ex-Data Engineering Head of JP Morgan
CAN Capital introduces new CEO Edward Siciliano
Monzo brings in industry vet Hoffman as chairman
M&A Activity
Funding Transactions
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