What’d I miss? News and Insights that got noticed - Week 47
Rutger van Faassen
Thought leader and (F)influencer at intersection of consumer finance and technology helping fintechs, banks and credit unions truly connect with Solution Providers. Storyteller, Trusted Advisor, Podcast Host, Speaker.
Key themes this week (November 15 - 21)
Apple will now be treated like a bank, says US Consumer Financial Protection Bureau
“…The popularity of Apple Pay will now see the Cupertino company regulated by the US Consumer Financial Protection Bureau (CFPB), a watchdog whose role is normally limited to banks and financial services companies.
The decision means that the bureau will have the power to monitor and regulate Apple’s policies and practices in regard to its mobile wallet services …”
Key takeaways:
Barclays Bank in talks over giving away 80% stake in merchant acquiring business
"...Barclays Bank is understood to be in discussions with Brookfield Asset Management about giving up 80% of its merchant acquiring arm..."
Key takeaways:
U.S. Bank Launches Travel Planning Partnership With Booking.com
"...U.S. Bank has launched a travel booking platform for its credit card holders.
The U.S. Bank Travel Center with Booking.com, announced Monday (Nov. 18), lets cardholders reserve flights, rental cars and hotels via Rocket Travel by Agoda’s booking technology and travel planning expertise.
“Whether paying for travel with points or cash, our cardholders will enjoy the convenience of planning their travel through a robust, easy-to-navigate online booking experience,” Steven Mattics, head of U.S. Bank Retail Payment Solutions, said in a news release.
“Our cardholders’ travel planning and booking experience will be significantly enhanced with improved site navigation, cutting-edge technology, and the security and travel options that travelers demand today,” Mattics added..."
Key takeaways:
Santander Launches Openbank Digital Bank in Mexico
"...The Openbank Mexico website and app are now operating, promising a fully digital bank, no minimum balances, no fees and competitive interest rates, Openbank said in a Tuesday press release.
Customers can also access 24/7 telephone support and all 10,000 Santander Mexico ATMs, according to the release.
“Openbank Mexico is now a reality for all Mexicans who want to manage their finances quickly, easily, 100% digitally, and with the security and solvency of Santander,” Openbank Mexico CEO Matías Nuñez Castro said in the release..."
Key takeaways:
[NEW SPOTCAST EPISODE] 🔊👂🏻BoI SPOTCAST featuring Russell LaCour, CTO at Odin AI
We are thrilled to share the latest SPOTCAST episode of, "Banking on Information," hosted by Rutger van Faassen, featuring Russell LaCour, CTO at Odin AI. In this episode, Rutger and Russell dive deep into his WHY, WHAT, and HOW when it comes to applying agentic AI to the mundane part of our jobs.
Join us as we explore the consultative method Odin AI brings to the table, helping deliver agentic AI that replaces daily tasks and makes delivering mundane tasks way more efficient, saving time and money.
Whether you're a finance professional or just curious about the future of banking, this episode is packed with valuable information and thought-provoking discussions.
🎧 Listen now on the Informationbanker’s YouTube channel and stay tuned for more episodes that will challenge the status quo and inspire change in the financial services industry.
Key takeaways:
Recommended by LinkedIn
PayPal CEO pushes beyond payments
"...After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company..."
Key takeaways:
Goldman Sachs to spin out technology platform GS DAP into independent business
"...Operating as part of Goldman Sachs’ Digital Assets business since launching in 2022, GS DAP applies smart contracts to digitise and manage the asset lifecycle for institutional clients through a shared, immutable platform.
The unit’s potential spin-off is set to culminate in “an industry-owned distributed technology solution”, independent of Goldman Sachs and its Digital Assets business, and will cultivate “a distributed ecosystem that allows participants to interoperate seamlessly, efficiently, and at scale”, according to the bank’s statement.
With the proposed separation pending regulatory approval, Goldman Sachs adds that it will “continue to scale” its Digital Assets business, while GS DAP will maintain its service delivery..."
Key takeaways:
Looking for a "Technical Person" Walk / Part of Creators and Founders Power Walk in NYC 👣
This weekend we completed the Looking for a "Technical Person" Walk / Part of Creators and Founders Power Walk in NYC 👣 where we walked the Brooklyn Bridge. We had an amazing day and made good use of the last light of the day.
We started in FiDi in front of Delmonico's and after walking across the Brooklyn Bridge ended the walk on a rooftop in DUMBO.
As always a great way to walk and talk with new and existing members of the staaake community.
For the next Sunday Creators and Founders Power Walks sign-up here: https://lu.ma/vtgajmkp
Key takeaways:
After Posting 94% Revenue Jump, Nvidia CEO Says Company Has Room to Scale
"...To hear Jensen Huang tell it, Nvidia — and artificial intelligence (AI) in general — is just getting started. The CEO of the most valuable company in the world didn’t rest his laurels on a 94% year-over-year revenue growth number for Q3 and faced up to several questions about the future of his company as well as the general prospects for AIs growth for the rest of the decade.
“Many AI services are running 24/7, just like any factory,” Huang told the earnings call audience. “We’re going to see this new type of system come online. And I call it [the company’s data centers] an AI factory because that’s really close to what it is. It’s unlike a data center of the past.
“And these fundamental trends are really just beginning. We expect this to happen, this growth, this modernization and the creation of a new industry to go on for several years...”
Key takeaways:
Check this out:
We are thrilled to share the latest episode of, "Banking on Information," hosted by Rutger van Faassen, featuring Kevin Porter, CEO and Founder at DxO Advisors.
In this episode, Rutger and Kevin dive deep into his WHY, WHAT, and HOW when it comes to helping credit unions with their omni-channel transformation and adoption.
Join us as we explore the wealth of experience and proven success Kevin brings to the table, helping deliver omni-channel transformation and adoption that puts credit unions in the lead ahead of their bank competitors.
Whether you're a finance professional or just curious about the future of banking, this episode is packed with valuable information and thought-provoking discussions.
🎧 Listen now on the Informationbanker’s YouTube channel and stay tuned for more episodes that will challenge the status quo and inspire change in the financial services industry. Or subscribe and listen on Apple Podcast and Spotify.
You can find this and future episodes here:
As I am always interested in what you think about these posts, send me a message, or just leave a comment on the post on LinkedIn. If you like reading this please engage with the posts since that is the currency of LinkedIn.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
3wInsightful.
I am a Professional Digital Marketer 🌐 Specializing in YouTube SEO & Optimization, Website SEO, Facebook Ads, Google Ads, Shopify Drop Shipping, Podcast Marketing, and Organic Growth Strategies!!📊
3wGreat roundup! The Apple and Barclays news are especially intriguing—excited to see how these shifts impact the financial landscape.
Chief Revenue Officer I Analytics & Strategy Leader I 3AI Thought Leader I Fintech Enthusiast
4wCFPB has been expanding its regulatory oversight to include non-banking firms and other tech companies offering digital payment services. We can expect more non banking firms (recent actions on Apple, Numbus) being brought under the UDAAP (Unfair, Deceptive, or Abusive Acts or Practices) regulatory framework Key notes: 1. Companies handling over 50 million transactions per year in U.S. dollars will be subject to CFPB supervision.This will allow the CFPB to treat these tech firms more like banks in terms of regulatory oversight. 2. About 17 companies, processing over 88% of transactions in the digital payment space, are expected to be directly impacted. Hope this adds some color on this evolving reg framework.