During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
The Rise of the Invisible Bank by American Banker – We kicked the week off with a super interesting feature by Penny Crosman on how banking is going to become invisible as it becomes embedded in other daily activities.
Fintech users just can’t get enough of traditional banks by Financial Times – Most people, myself included, use their fintech bank account as a secondary account. A new comprehensive UK study shows the extent to which this is happening.
Moats In Banking Are Dead: Build Bridges And Tunnels For A Competitive Advantage by Forbes – Another great piece by Ron Shevlin on whether or not banks enjoy a competitive moat. I have said they do but only because of regulations and switching costs. Fintechs don’t have moats either and maybe the whole idea of moats is outdated now.
7 Innovative Startups to Watch in 2020 by Inc. – Interesting that two of the seven startups Inc says are ones to watch in 2020 are fintech companies. Congrats to Better.com and Petal for making this exclusive list.
Can Regulators Catch Up To Tech Changes? by American Banker – Financial regulators do not have an easy job. As fintech brings a rapid pace of change that includes completely new business models it is tough for regulators to keep up. Great feature in American Banker on this issue.
The open banking movement is inspiring consumers to ask who owns their banking data by CNBC – Excellent piece (including video interview with CEO Zach Perret ) on how Plaid has become the de facto standard for fintech companies to connect bank account data.
Will regulators ever find common ground on CRA reform? by American Banker – The Fed and the OCC/FDIC have competing proposals on reforms to the Community Reinvestment Act.
LendInvest founder moves into chairman role by P2P Finance News – I am not sure what to make of this but the CEO and Co-founder of leading UK property lending platform, LendInvest, is stepping down and moving to the Chairman role.