Blockchain-based payments have been all the rage in banking the last few weeks and last week was no difference.
American Express Is Getting Into Blockchain-Based Payments With Ripple
As blockchain-based payments have gained more traction with the evolution of cryptocurrencies, integrated technologies within financial services have taken off. Though there are bigger plans in store for this pairing in the future, American Express is already making headway with Ripple on this front. Ripple CEO Brad Garlinghouse says, “Transfers that used to take days will be completed in real time."
Consumer lending 2017: Bold bets and strategic exits
The American economy continues to see improvement as consumer lending is at an all-time high while delinquency rates are below the 15-year average. This begs the question: What's causing the improvement? Laura Alix of American Banker has answers. She writes, "Banks searching for growth pushed and pulled on a variety of consumer lending levers this year. Personal loans, particularly those offered through digital channels, were especially popular as banks aimed to emulate online lenders’ speed and efficiency. Meanwhile, smaller banks that often lack the resources to beat fintechs are, in some cases, joining them."
Top 10 Trends in Retail Banking 2018
"Increasingly, customers are choosing their primary financial services provider based on the ease with which they can operate their financial products, and are demanding a personalized experience."
Banks, fintechs and a Brit royal to build green-lending blockchain
"On Tuesday at the One Planet Summit in Paris, [Prince Charles and an assortment of banking and fintech thought leaders] are expected to announce they are developing blockchain technology that lets banks see which potential borrowers use environmentally sustainable practices and therefore are worthy of preferential lending terms. Such disclosures presumably would put pressure on companies to pollute less."
INSIKT raises $50 million to lend to low-income communities
"And after facilitating 125,000 loans in three years, INSIKT is raising $50 million to expand. The round is led by Grupo Coppel, with participation from FirstMark Capital, Revolution Ventures and Colchis Capital. INSIKT has raised $100 million to date."
Ethereum, Ripple And Litecoin Have Arrived on Bloomberg Terminals
"The move [of Ethereum, Ripple, and Litecoin on Bloomberg] comes amid sharp rises in the prices of many alternative cryptocurrencies, or altcoins, along with the spike in bitcoin prices. Just yesterday, Ripple's XRP token surged to a new record close to 90 cents, while ether and litecoin have also both hit new highs in the past week."
Tencent, JD Back Chinese Online Retailer in Battle With Alibaba
Tencent and JD are working together to take on Alibaba in e-commerce and digital payments. Digital payments is a big play for the companies to overthrow the giant: "As part of the deal, Tencent will give Vipshop a dedicated spot on Weixin Wallet, referring customers to its online shopping platform. JD will also grant Vipshop a potentially lucrative slot on some of its shopping portals and help it achieve sales targets."