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Essential Fintech News - August

Aug 15, 2018 2:38:00 PM

Read or watch our recap of the latest news in the fintech industry:
 
It’s been a big few weeks for regulatory announcements. The Treasury released the long awaited Fintech report, and the OCC announced their much rumored fintech charter. The states have been vocal with their displeasure about federal oversight. Confused? It’s not just you.
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As for us, we were happy to see many of the principles that MX lives by come to the forefront in these reports. Transparency, intent and security have always been a core part of our product offerings, and it’s great to see the bar being raised for the industry. As the recommendations make their way through Washington D.C. we hope to see more discussion around the resale of data – a principle that MX is firmly against but that is still widespread in the industry.
 
If you want to get the cliff notes on the 200-page Treasury Report, Ron Shevlin of Cornerstone Advisors does a great job summarizing the highlights and recommendations.

 
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More essential reading this month:
 
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Facebook’s Proposed Financial Data Use Ignites More Controversy

Facebook assures financial institutions it won’t use data for targeted advertisements.

Read more on Credit Union Times (Aug. 9)

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Help Wanted: Trends Reshaping Financial Marketing Departments Today

Research reveals that today's financial marketer must fight on multiple fronts while competing internally for dollars. For instance, if you fail to sell yourself and prove marketing ROI to the C-suite, you won't get the funding you need.

Read more on The Financial Brand (Aug. 8) 

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What's holding back banking? 

Thanks to Alexa, Siri and Google, voice assistant devices have rapidly multiplied — 47 million U.S. adults now own voice-responsive speakers, according to one recent study.

Read more on American Banker (Aug. 13)

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Amazon will Disrupt Financial Services and Wealth Management Next

Amazon is nearly perfectly positioned now to disrupt investing, asset-management and finally financial services as a whole, replacing people with AI.

Read more on Medium (July 31) 

Steve Jensen

Written by Steve Jensen

Director of Communications, MX