Fintech Playlist 💿 Week 73
Sallie enters the chat 💬
And the beat goes on. The contagion in the banking industry, which started with a run on Silicon Valley Bank earlier this month, made the jump to Europe over the weekend, taking down Credit Suisse and forcing it into a sale to its national rival, UBS.
As the new recurring payment kids on the block continue to grab the limelight let’s take a quick look at how Bacs Direct Debit (and Direct Credit) works and how it all began.
What If Every Large Regional Bank Was Either a Banking-as-a-Service (BaaS) Bank or a SIFI?
Imagine a parallel world in which every large regional bank, say those over $50 billion in assets, was either a SIFI, subject to the same regulatory oversight as the biggest banks, or a BaaS bank with no customer-facing businesses, just a robust, diversified balance sheet supporting a large number of front-end fintech partners.
1. SVB the first digitally fueled bank run
2. SVB: a bailout by any other name
3. Tech will learn nothing from the SVB failure!
4. Going cashless makes people happier in China!Â
5. INTERVIEW: The Fed is battling a problem of its own making!
This week, some of my colleagues took a deep dive into the effects on consumers, businesses, banks, investors, and so on — all over the world — who had made deposits with SVB. If anything, it shows just how connected the startup ecosystem really is.
Slow rolling competition policy reform: in the wake of 2008, pundits pointed to Canada’s bank concentration as an asset in weathering the global financial crisis. Similar arguments are being made today on the values of bank oligopolies - at the expense of more innovative and affordable financial services. I’m not holding my breath for open banking or payments modernization to make headway this year.
The signs of the death of crypto banking are everywhere.Â
Some have asked if the Amazon “revolt†-when they insisted that workers return to the office for a few days a week, 25k (THOUSANDS!) employees took to a Slack channel to protest under no unclear terms- and the way it was squashed -they remain firm on the demand for now, presumably as a covert lay-off technique- means anything for the future of WFAA (work from anywhere, anytime) and I think it doesn’t. All of these anomalies are temporary.
➡ Themes from the morning of Day 2 at #fintechmeetup centered on #fintech companies staying more focused + questions around whether customers will care more about the bank behind the fintech + finding the next hook now that early payday/no overdraft fees are more common + this ⬇ (And yes, there was a secret library room in the green room.)
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Have other payment methods to add to the graveyard? Get in touch with Efi to add to her updated article next week
I’m just saying that in my 30 years of banking technology experience, defining the future of banks is much more complex now than it has ever been. Can banks really know what line of business they will be in in the next 10 years?
Hidden Track ðŸ”
Parallels to innovation, iteration and even a real use of AI wrapped in an album review from one of Bermuda’s leading voices in fintech
Liner Notes ðŸ“
Check out other things I read, or wanted to read or listen to, or reposted without reading that you might find interesting
Thanks for reading 👋ðŸ»Â Tune in next week for more fintechy song goodness. Until then, be excellent to each other.
| Head of Innovation & ESG Tech Transfer | Prof. in Fintech, Marketing Management, GovTech & Generative AI | Top 5 Global Fintech Insurtech Marketing Influencer to follow 21-22-23-24 |
1yExcellent Playlist Barb. #fintech
American Banker Top 20 Most Influential Women in Fintech | Book Author - Beyond Good (2021), Metaverse Economy (2023) | Founder - Unconventional Ventures | Podcast - One Vision | Advisor | Public Speaker | Top Voice |
1yThe Cure. Trust — so raw. And perfect. Thank you Barb MacLean. I don't know how you do it but you summed it up perfectly. (Now I'm going to craw back to bed.)
Thanks Barb MacLean sounds a bit like a David Guetta track, also makes me feel like I should be dancing to it on a beach 😂 if only, it's wet and cold here but thanks for a ray of sunshine
Director @Conyers
1ySome great pieces and of course music in here (not just saying because I'm in here 😅 )
Top 5 Retail Banking Influencer, Global Speaker, Podcast Host and Co-Publisher at The Financial Brand
1yYou make my Saturdays brighter. Thanks!!!