Impact Lab


Subscribe Now to Our Free Email Newsletter

» Currently browsing: Banking


Update: Petal’s no-fee credit card for the credit score-less is now open to the public

October 11th, 2018 at 1:42 am » Comments Off

Petal, the startup credit card company that’s offering a no-fee credit line to people without a credit history, is now publicly available. Launched earlier this year by co-founders Jason Gross, Andrew Endicott, David Ehrich, and Jack Arenas, Petal has received a $34 million credit facility from Jeffries and Silicon Valley Bank to bring its consumer […]



Ten years after Lehman’s collapse, these ten risks could cause the next crisis

September 17th, 2018 at 9:48 am » Comments Off

On Sept. 15, 2008, a credit crunch turned into a full-blown crisis when New York-based investment bank Lehman Brothers collapsed. The global recession that followed is still too fresh in many people’s memories to be considered history. But 10 years on, the state of the financial system suggests that the crisis has been relegated to […]



Dutch central bank warns about the rise of the cashless society

June 8th, 2018 at 9:20 am » Comments Off

No cash here. The Dutch central bank DNB said on Tuesday it had concerns about the decline in the use of cash, saying the lightning-fast rise in digital payments could lead to vulnerable groups having limited access to goods and services. While apps and other digital methods of payment are rising in popularity, ‘there is […]



World’s first cryptocurrency bank opened in Singapore

April 30th, 2018 at 3:22 pm » Comments Off

The co-Founder of Nuo, Varun Deshpande announced on twitter that they are opening a bank in Singapore. This is not just a normal bank but a virtual bank for cryptocurrencies. He also stated that they will open an ATM for virtual digital money as well. They are also introducing a new technology- Advanced Robotic Account […]



Artificial intelligence will wipe out half the banking jobs in a decade, experts say

April 23rd, 2018 at 3:21 pm » Comments Off

Advances in artificial intelligence and automation could replace as many as half the nation’s financial services workers over the next decade, industry experts say, but it’s going to take a big investment to make that happen. James D’Arezzo, CEO of Glendale-based Condusiv Technologies, says that’s where things are headed. And the process will be complicated. […]



Mastercard will support cryptocurrencies – as long as they’re backed by governments

March 27th, 2018 at 10:27 am » Comments Off

It seems Mastercard is gradually softening its stance on cryptocurrency, after CEO Ajay Banga downplayed non-government mandated digital currencies as “junk” back in October last year. In a conversation with Financial Times, Ari Sarkar, Mastercard co-president for the Asia-Pacific region, said the company is open to explore cryptocurrencies created and backed by governments.



The World Bank is no longer supporting the oil and gas industries

January 22nd, 2018 at 10:29 am » Comments Off

The World Bank is starting to phase out its support for the oil and gas industries. The move is part of efforts to address climate change and reinforce the Paris Climate agreement. It also suggests that the Bank intends to play a leading role in the battle against climate change as the US turns its […]



Here’s what the World’s Central Banks are saying about bitcoin

December 13th, 2017 at 12:10 pm » Comments Off

More than eight years since the birth of bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies.



Asset prices are high across the board. Is it time to worry?

October 11th, 2017 at 10:01 am » Comments Off

With ultra-loose monetary policy coming to an end, it is best to tread carefully



IMF head forsees the end of banking and the triumph of cryptocurrency

October 7th, 2017 at 3:32 pm » Comments Off

In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.



Coworking 10