Finserv Reading - Week ending March 10, 2024

Bijon Mehta Bijon Mehta

Bijon Mehta

Chief Operating Officer I Enterprise Software I Adjunct Professor @ Fordham University

Published Mar 11, 2024
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Banking

A year after Silicon Valley Bank's collapse, the rules are still catching up

The business model challenge for European banks

Frictionless isn't always better when it comes to banking

Life at regional and small banks, one year after SVB failed

US neobanks Dave achieves profitability over Q4 2023

JPMorgan pursued Discover deal before Capital One's $35 billion offer

NYCB to get more than $1 billion investment

UBS chief Sergio Ermotti hits out at Europe's 'parochial' view of banks

The problem isn't big banks - it's banks getting bigger

Why people are switching to their hometown banks

BoA joins rivals in predicting stronger investment banking revenue

Santander slashes jobs as banking's digital shift continues

What's the state of commercial banking 2024

How JPMorgan thrived amid a banking crisis

Nationwide challenges UK's biggest banks with $3.7 billion Virgin Money bid

Houlihan Lokey CEO Beiser to step down

Bank customers are happy, but their loyalty is fragile

SVB's collapse and the rise of neobanks

BoA patents increase nearly 70% in 5 years

Monzo hits $5 billion valuation on $400 million funding round


Wall Street

TP ICAP separates data unit following investor pressure

Why European stock markets are in crisis

When Wall Street rolls out the red carpet for you, who pays?

Nasdaq highlights migration to cloud

Settlement fines come into focus as T+1 deadline looms


Economy 

Two canals, two big problems - one global shipping mess

Red Sea conflict threatens key internet cables

How geopolitical competition in the Black Sea is redefining regional order

GlobalData: Geopolitics and supply chain dynamics to dictate oil and gas outlook

Will globalization trump deglobalization?

Prospects and challenges for China-US economic and trade cooperation


Asset Management

Saudi Arabia transfers $163 billion stake of oil producer Aramco to its wealth fund

Hedge funds snap up stocks at fastest pace in 11 months, Goldman Sachs says

Hedge funds can pose risks to big Wall Street brokers, BIS warns

Hedge funds bet on US real estate rebound

Blackrock investment closes RapidSoS $150 million funding round


Wealth Management  

How to invest in a bull market

Blackrock to buy SpiderRock as firm expands wealth management

Wealth management needs to change - here's how

Organic growth strategy can be ultimate hedge for RIAs

A quarter of Robinhood's trading volume often comes after hours


Insurance

States dig into homeowners insurance and why it's hard to buy

Revolutionizing insurance pricing to build or partner for success

Top insurtech funding rounds - February 2024

American Family Insurance 2023 results buried by weather and inflation woes

Reinsurance and the weather impact huge US P&C underwriting losses


Real Estate   

White House revives plan to save homeowners money in closing costs

US banks far more exposed than Europeans to property crunch says Morgan Stanley

Largest US banks can handle their 'problematic' exposure to office real estate, says S&P

NYCB turnaround faces rocky road as commercial real estate exposure a drag

Powell: 'There will be bank failures' caused by commercial real estate losses


Payments 

Musk says X could soon receive payment license in New York, California

PayPal's Schulman: Payments and banking consolidation ahead

NatWest ditches BNPL

The youths have spoken: Wallets are uncool. Go digital.

Navigating the future of payments

Fiserv reportedly in the running to acquire Shift4 Payments


Venture Capital / Private Equity

Is private equity actually worth it?

Singapore's Temasek in discussions to invest in OpenAI

Tiger Global's Chase Coleman says IPOs are still in the 'desert'

Team8 raises $500 million new funds

Why private equity has been involved in every recent bank deal


AI / ML

Unless you're Nvidia the AI chip business is complicated

Why adopting GenAI is so difficult

Your office job may be safe from AI takeover, for now

Sam Altman return's to OpenAI's board after review finds firing unwarranted

Elon Musk may yet hold OpenAI to account - unlike its board

Adobe finds AI hype is a two edged sword

Bank customers express distrust in AI

What comes next for banks with generative AI

Banks face the twin-edged sword of generative AI

Citi: Generative AI is transformative in banking but risky for customer support

Navigating the risks and opportunities of generative AI in insurance

How is P&C insurance benefiting from generative AI?

Cliff Asness: AI is ;still just statistics'


ESG / Climate Change

Addressing climate change residency

US companies have to start talking about climate change under new SEC rule

US Treasury drops plan to collect insurer data on climate risks

Climate change is a financial threat to your retirement

California climate

UN-backed bank group seels avoid departures with new climate guidelines

SEC is making companies disclose information about climate change

Flexibility is key to minding ESG investment returns gap

US asset managers differ on ESG impacts

ESG investing morphs into transition investing

Invesco joins list of investors exiting Climate Acton 100+

ESG data faces huge challenges

US asset managers' split widens over ESG issues

A superfund for climate? 

Climate fintechs are faring better than their peers in attracting VC funding


Bigtech 

Will big tech agree to play by Europe's rules?

Europe's DMA is breaking open the empires of big tech

Road testing big tech regulation in Europe

Democracy threatens big tech's business model

All the big tech layoffs in 2024


Fintech  

Who are fintech's 'walking dead'

BaaS is not dead and other lessons from Fintech Meetup

Brex's growth model

No Plaid IPO for 2024


Blockchain / Crypto 

How bitcoin made a believer out of Blackrock

Bitcoin's stunning climb to new records

Bitcoin funds pull in money at record pace

Deutsche Boerse launches regulated crypto trading platform for institutional investors

Why crypto just won't die

What is tokenization


Regulation / Compliance  

The EU's giant experiment in tech micromanagement

SEC approves weakened climate disclosure rule

New York's moves to rewrite law on sovereign debt default recovery

Bank runs spooked regulations. Now a clampdown is coming.

Apple fined nearly $2 billion by EU over music-streaming apps

The radical changes coming to the world's biggest bond market

Jay Powell signals a retreat on banking rules


Corporate Venture / Innovation                                       

To decide where to grow next, pinpoint what makes your company different

When you have to make a strategic decision without much data

CVC deals falls industry participants shield themselves

Revolutionizing corporate innovation

Keeping innovative projects aligned with strategy


Personal Development / Leadership 

The indiscipline of overwork

Want to achieve your dreams? Try subdividing your goals

If you try to do everything, you won't do anything

Discipline is destiny: 25 habits that will guarantee you success

The fight is the reward

The two types of inspiration

How innovative ideas arise

How to optimize your daily decisions


Podcasts / Videos  

Stanford Inst. for Economic Policy Research: Nvidia CEO, Jensen Huang

Blitzscaling: Reed Hastings on building a streaming empire

In Good Company: Sergio Ermotti, CEO of UBS

Danny Meyer: When hospitality means finding the no

McK: It's cool to be kind - The value of empathy at work

From AI to drones: Governing technology in an age of geopolitical competition


Speeches / Communications

Isabel Schnabel, Member of Exec Comm of the ECB: "From laggard to leader? Closing the euro area's technology gap."

Sir David Ramsden, Mem of the Markets and Banking Comm at BoE: "Bond trading, innovation and evolution - a BoE perspective"


Research Reports  

MS: Cost of Capital and Capital Allocation

EY: Asset management institutional client onboarding

BIS: Fast Payments - Design and Adoption

BIS: Quarterly Review - March 2024

OW: Multiplicity and convergence in the digital assets ecosystem

OW: Key policy issues in finance in 2024

BCG: AI's surprises, innovations and big wins

WEF: Building a resilient tomorrow

McK: How generative AI can help banks manage risk and compliance

McK: A generative AI reset

FTPartners: Fintech - March 2024

CapGemini: Retail Banking 2024

CapGemini: Digital Continuity

CapGemini: Confidence in AI

Deloitte: Trust in the era of generative AI

Deloitte: Proactive risk management in generative AI

Deloitte: Generative AI is all the rage

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