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10 Years Since the Financial Crisis: Essential Banking News

Aug 14, 2017 10:01:00 AM

This week we look at a few articles that analyze the start of the financial crisis.

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Ten years on from the start of the financial crisis, how the mighty have fallen

As shown in the chart above, no Chinese bank was in the top 15 by asset size. Now Chinese banks hold all of the top four slots. In addition, The Royal Bank of Scotland fell from first to 24th, and many of the other largest banks in 2007 experienced a similar fall.

Read more at Quartz

 

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Alistair Darling warns against ‘complacency’ 10 years on from financial crisis

“You always have to be vigilant. The lesson from 10 years ago is something that can start as apparently a small ripple in the water can become mountainous seas very quickly," Darling said. The article also showcases exactly what happened during the crisis, moment by moment (shown above).

Read more from the Telegraph

 

Big banks on notice that they’re losing ground to China’s fintech giants

“The giants of the banking world are starting to publicly acknowledge the dominance of mobile payment methods devised by Chinese technology firms – and, more broadly, a failure to keep up with fintech rivals in certain areas.”

Read more here

 

Banking with a chatbot: a battle between convenience and security

“Soon, you will be able to check your bank balance or transfer money through Facebook Messenger and Twitter as banks experiment with chatbots. Companies like Ikea have used customer service chatbots for close to a decade. But their use in financial services represents a new tension - do we want convenience or a feeling of security from our banks?”

Read more at The Conversation

 

The Enormous Potential Of An Integrated Banking Ecosystem

“A banking ecosystem is an interconnected set of services where customers can fulfill a variety of needs in a single integrated experience. Bringing together ways to make a consumer's daily life easier is the future of digital banking.”

Read more at The Financial Brand

 

Glint is a stealthy London fintech startup that promises to turn gold into a ‘new global currency’

“Glint, a stealthy London fintech startup that promises a new “global currency,” has raised £3.1 million from a plethora of individual backers in the financial services and asset management space, alongside early-stage investor Bray Capital.”

Read more at TechCrunch

 

"The Banking Industry Is Walking Into a Death Trap," Warns Checkfree Founder, Pete Kight

"The problem is that the banking industry is looking for an inflection point," Kight said, "and the only time you ever see the inflection point is in the rearview mirror."

Read more at MoneySummit

 

Coinbase raises $100M at a $1.6B valuation amid explosive growth

“Coinbase has had a pretty crazy six months. It may be hard to remember, but at the beginning of 2017 the cryptocurrency world was a different place. Bitcoin was below $1000 per coin and the entire market cap for all cryptocurrencies was about 7x less than it is today. Since then, the market has surged. And as arguably the most established wallet and exchange service that exists today, Coinbase has been in the right place at the right time to capitalize on the excitement in the industry.”

Read more at TechCrunch

 

PayPal to acquire Swift Financial to bolster small business lending

“Global payments processing company PayPal announced this morning that it has agreed to acquire Swift Financial, which provides small business owners with working capital. Terms of the deal were not disclosed, but the acquisition will give PayPal better tools to expand its own Working Capital product.”

Read more at TechCrunch

Jon Ogden

Written by Jon Ogden

Jon Ogden is the Director of Content Marketing at MX.

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