Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news and fun links because these resources have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
Is the fintech industry killing mobile payments? – A while back I blogged my concerns about the future of mobile payments; “Why I am worried about the future of Mobile payments”.
In essence, the problem that I focused on is this – there are just too many forms of mobile payments being offered by too many organisations and by too many banks. This approach creates confusion. It come about because everyone is bent on promoting their own form of payment mechanism in the hope that it will be the next “big thing”.
The Rise of the Overbanked [INFOGRAPHIC] – We’ve all heard of the underbanked, though the term has somewhat fallen out of fashion since the underbanked usually have bank accounts and simply choose to use alternative services. Maybe they should be called the #otherbanked? But the overbanked — those with multiple accounts — are a different matter. They are also a challenge for banks to serve. it is difficult to know which accounts your customer may have where. Nomis, which specializes in optimizing pricing for accounts, lays it out in the infographic below.
The biggest pay day lending surprise – The biggest surprise in the CFPB’s pay day lending proposal is not what it says, but what it doesn’t say. The omission underscores yet again why Congress pushed the Constitution‘s tolerance of administrative powers to the breaking point by delegating massive de facto legislative power to an unelected independent agency.
17 motivational quotes from your favorite 2016 Olympians – So far, the 2016 Rio Olympics have been filled with awe-inspiring achievements from some of the greatest athletes in the world.
From Michael Phelps’ phenomenal Olympics finish to Simone Manuel making history as the first African-American female swimmer to win gold in an individual event, athletes in this year’s games exhibited ultimate displays of good sportsmanship, endurance and gratitude.
Banks Play Growing Role in Funding Fintech – Fintech is reaching a new level of maturity, and it is showing in the money backing it.
The technology movement that promised to displace — or at least challenge — the norms of banking is moving beyond the garage stage and is being taken seriously, but investors are getting choosier, too.