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Robots to replace 200,000 US jobs in banking in 10 years

October 7th, 2019 at 12:41 pm » Comments Off

As the September jobs report looms, a recent report from Wells Fargo is casting a bleak light on the future of banking jobs. The report revealed that robots are likely to reduce headcount by 200,000 over the next decade throughout the financial industry in the U.S. Wells Fargo’s Mike Mayo spoke to Yahoo Finance’s On […]



The $100 trillion opportunity: The race to provide banking to the world’s poor

September 29th, 2019 at 11:57 am » Comments Off

Two years ago, Amylene Dingle lived with her husband and 7-year-old daughter in Payatas, an impoverished Manila neighborhood with the largest open dump site in the Philippines. Her husband worked on the security staff in a government building, earning 4,000 pesos a week, the equivalent of $80. She had always wanted to start a business, […]



6 futuristic jobs that will soon exist in the financial industry

September 12th, 2019 at 11:57 am » Comments Off

I’d like to apply for the job of man-machine team manager, please  It used to be that a job in finance would set you up for life. Steady, reliable, dependable, calculators and sweater vests. These things come to mind when you think of a career in finance. Just like in other industries, AI and machine […]



Mark Zuckerberg is about to become the head of a Swiss Bank. 3 reasons it should make you think

July 1st, 2019 at 11:31 am » Comments Off

  Mark Zuckerberg is about to become the head of a very big bank based in Switzerland. Libra is Facebooks’ new cryptocurrency. Imagine sitting in a room thinking about what else you can sell to your 2.4bn people (including some bots) backed by a $1bn in guarantees from companies as wide as Paypal, Mastercard and […]



How Artificial Intelligence is already disrupting financial services

May 29th, 2019 at 11:31 am » Comments Off

Digital technologies drive business disruption. Today, artificial intelligence (AI) is at the forefront of financial industry disruption, allowing these firms to look differently at operations, staffing, processes, and the way work is done in a human-machine partnership. In PwC’s 2019 AI survey of US executives, financial services executives said they expect their AI efforts to […]



Fiat vs Cryptocurrency: Pros and Cons

May 6th, 2019 at 11:20 am » Comments Off

  While some early adapters may not need convincing to join the cryptocurrency craze, others are left wondering, what exactly is it good for? I can’t put it in my bank, I can’t use it at (most) stores, what can I do with cryptocurrencies? Before we get into the ins and outs of cryptocurrency and […]



The next FinTech: Global “Open Finance” Infrastructure

May 1st, 2019 at 7:08 am » Comments Off

“Open Finance “ — open-source financial services infrastructure built on public blockchains — may be the next major digitization narrative after Fintech. Driven by the transformation of analog liquidity (deposits in a bank account) to digital liquidity (tokens in digital wallets), the playing field can be leveled for offering financial services. As a result, new profit motives are introduced […]



JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business

February 17th, 2019 at 1:22 pm » Comments Off

JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business Engineers at the lender have created the “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business. Only a tiny fraction of payments will initially be transmitted using the cryptocurrency, but […]



Banking’s worst nightmare is here

January 21st, 2019 at 12:14 pm » Comments Off

We’ve seen enough. We’re going BIG on the death of big banking. If you’ve ever had to spend time at a bank opening a simple checking account, or even worse—closing a bank account—you won’t be surprised to hear that Americans are abandoning traditional branch banking by the millions. Even bank executives concede the massive shift […]



US Secret Service is probing how crooks use smart credit cards for fraud

January 18th, 2019 at 1:10 pm » Comments Off

Credit card thieves have been using Fuze Cards, according to a Secret Service memo. Credit card thieves have been taking advantage of smart card technologies to avoid getting caught, according to Krebs on Security. The US Secret Service offices in New York and St. Louis have apparently been working on a criminal investigation involving fraud […]



At least 15 central banks are serious about getting into digital currency

December 26th, 2018 at 12:01 pm » Comments Off

Digital cash may soon start replacing the physical kind. The market for digital currency is down, but it’s certainly not out. Even if private cryptocurrencies are falling in popularity, it appears likely we are headed toward an era of national digital currencies that are backed by central banks. Central banks are the institutions that set […]



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 […]



Should we gamify citizenship?