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Essential Fintech News - September

Sep 19, 2018 1:43:00 PM

Read or watch our recap of the latest news in the fintech industry:

 

'Fintech Charter' Has No Early Takers as Lawsuit Looms


Six weeks after the Office of the Comptroller of the Currency (OCC) opened its door to formal applications, the "fintech charter" has been slow to elicit many takers. According to the Wall Street Journal, this is due to "uncertainty about what activities [it] will allow, what regularly requirements it will carry, and whether it will hold up in court." With different state and federal regulatory bodies involved, this topic is likely to be the subject of both legal action and significant debate.
 
Read the Sept. 12 WSJ storyor a similar, non-gated story in Finextra.
 
Fintechs Surge_WSJ_09122018
 
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More essential reading this month:

Bankshot: Banks are running out of time to regain public trust 

Banks have revamped many of their operations over the last decade, and they’ve spent billions of dollars complying with a host of new rules. But if they can’t figure out a way to win back more of the public’s trust, all that work could be for nothing. 

Read the story by Victoria Finkle in American Banker (Sept. 14)

loss of faith chart


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Why USAA is The Most Beloved Financial Brand on Earth

Research reveals what drives brand loyalty at USAA, and why they consistently rank atop one satisfaction study after another.

Read the story by Bill Streeter in The Financial Brand (Sept. 10)

Financial-Banking-USAA-Repurchase-Intention-565x402 (1)

 
 

Bank branches and staff numbers continue to shrink across the EU 

The trend for mobile and online banking continues to take its toll on physical bank branches and staff numbers, with new figures from the European Banking Federation showing an ongoing decline

Read the story in Finextra (Sept. 11)


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Is your money-management app safe? Here's why people are concerned about their privacy

In the past year, it’s a deal about one-third of us made: We handed over our bank data to a fintech app in exchange for it to help us quickly manage our money or provide some other benefit. However, it turns out we have some concerns about the very thing we’ve been doing to save us time and money, new research shows.

Read the story by Mary Wisniewski in Bankrate (Sept. 3)

is-your-money-management-app-safe-heres-why-people-are-concerned-about-their-privacy


 
Steve Jensen

Written by Steve Jensen

Director of Communications, MX