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Essential Fintech Reading: Mar 5-11

The Future of Banking: Uber or Apple? by Don MacDonald on The Financial Brand

"We should balance the comparisons to Netflix, digital film, and Uber with comparisons of savvy business leaders who saw a sea change coming and adapted in time to survive, like Vanderbilt, Rockefeller, Intel and Apple. These bold adapters should give bank and credit union executives the hope they need to survive — as long as they too are willing to adapt to change. Indeed, bankers should take hope in the fact that those who successfully pivoted often became far more profitable after the pivot."

Banks online are trying to sound more like your best friend and less like a banker by Ashley Rodriguez on Quartz


Try to Be Customers' Favorite Bank, Not Their Only One by Bryan Yurcan on American Banker

"Though banks are typically loath to share data with competitors and thus may not be inclined to offer a multi-account aggregation tool, they may have to change their mindset as these younger, tech-savvy customers are looking for their bank to be more than just a place to hold money."

Capital One Launches First True Open Banking Platform in US by Mark Boyd on Programmable Web

"The new developer portal - named Capital One DevExchange - provides a single point of reference for the bank’s engagement with developers, listing their (so far) three open APIs. The portal contains all the features that are now considered best practice for developer engagement including self-serve registration and instant API access, sandbox testing environments, documentation, code snippets, and reference applications with sample code."

Are Big Banks Necessary? by John Heltman on American Banker

"The answer is, unsurprisingly, difficult to determine and varies greatly depending on whom you ask. American Banker interviewed bankers, industry representatives, analysts, reform advocates, academics and others to attempt to break down whether the presence of large U.S. banks is still necessary for the economy."