Weekly Coffee Break: Roundup of Industry News
Every week, we’ll share a roundup of industry news and links that have informed, entertained, and inspired
Here’s our weekly roundup of industry news:
A Look Ahead At The Payments Industry (7 Predictions For 2017) – 2017 promises to be a defining year for many in the payments industry. Here’s a look at what to expect.
The best resources for staying up to date on compliance news – Compliance and regulations are on the mind of credit union executives nationwide. In a recent article, Looking to Shed the Weight of Compliance Burdens?, it was revealed that 98% of CU executives identify compliance burden as a top critical concern for their credit union in 2017. As new regulations such as CECL or TILA/RESPA are added and amended, credit unions may struggle to keep up and remain compliant. Below are three resources for executives to stay on top of the latest news in the compliance world.
More Than Half of ATMs Now Located Away From Branches – Globally, more than half of all ATMs are now installed away from bank branches, and in the United States, about two-thirds are, according to new findings from a study by London-based research and consulting services firm RBR.
Fintech companies form lobbying group focused on data sharing – A consortium of fintech companies have formed a new industry group to advocate for allowing consumers to share their financial data with chosen third parties.
The Consumer Financial Data Rights group consists of many well-known names in the fintech industry, including Affirm, Betterment, Digit, Envestnet-Yodlee, Kabbage, Personal Capital, Ripple and Varo Money, among others. Many of the member companies provide consumers with personal financial management or wealth management tools, and rely on their users sharing their bank data with the firms.
University of Pennsylvania: Blockchain’s Biggest Challenge is Security – The Blockchain hype isn’t over yet say analysts at the University of Pennsylvania. If developers and companies successfully overcome regulatory and security-related hurdles in the upcoming months, the university says it is likely to see the implementation and commercialization of Blockchain in 2017.
White House outlines broad principles on fintech – Just days before President Obama will leave office, the White House released a white paper advocating for the U.S. government to engage in efforts to promote the fintech industry.