This is a roundup of industry news and links for the week of July 17th that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
What Blockchain Means for Fleet Management and Auto Finance – Fleet management of autonomous vehicles has gained traction over the past year, as more companies pivot their business models to accommodate this change in mobility.
So, what does this mean for auto finance? Blockchain is set to play a huge role in fleet management, according to the report Blockchain @ Auto Finance from Deloitte Consulting LLC.
Why Banks Can’t Help But Help Fintechs – Imagine if one of the large high street banks did actually truly innovate. Imagine if banks were somehow capable of taking the innovative lead from fintech. Imagine if your own bank outdid all fintech companies in speed, service, convenience and cost for all financial services you use, for your current account, payments, foreign exchange, savings and investing, and any other services.
Where Do Banks Fit In The Fintech Stack? – Where do banks fits in the fintech stack?
It’s a good question, and it’s also the title of a recent presentation given by Lael Brainard, a member of the Board of Governors of the Federal Reserve System. Ms. Brainard believes that the evolution of smartphones holds lessons for where the fintech ecosystem is heading, and what banks role within it might be.
CFPB Asked to Delay Arbitration Rules – The regulatory battle between the CFPB and the Office of the Comptroller of the Currency over the consumer agency’s final arbitration rule raged on Monday, with the OCC asking that the rule not be published until it conducted an independent review of the data behind it.
The blockchain could have better security than the banks – There are ways to improve the online ledger blockchain by taking some security notes from banks. If people could use both two-step verification and spending limits on the blockchain, this would reduce any economic loss from cyber attacks and in turn encourage more users.
The blockchain is a global network of computers that run the same blockchain software. Transactions on the blockchain are currently limitless and there is no one governing body. Introducing security measures could demonstrate a level of predictability in the blockchain that could build more trust.
13 Credit Unions That Tripled Auto Loans Since 2012 – Credit unions have been gaining a greater share of the automotive loan market since the recession as banks retreat and many credit unions consciously build their car loan portfolios by finding borrowers through better data analysis and forging indirect lending relationships with dealers.