Friday, 4 November 2016

My summary of the week

CapGemini publishes World Fintech Report 2017

In the report CapGemini highlights that:

- Customers are embracing new Fintech providers, with 50.2% globally saying they do business with at least one non-traditional firm
-Both traditional and non traditional firms struggle to meet customers expectations on the most important Moments of Truth
-Traditional firms have become more open to partnership with Fintechs
-Inculcating innovation requires methodical approach

Banks $ PSPs

•               BBVA and Self Bank are the first banks in Spain to launch online onboarding using selfie and video call to verify customer´s identity.  This solution allows anyone to open an account in just a few minutes and start banking right away. BBVA and Self Bank are the first banks in Spain that take advantage of the SEPBLAC authorization to use video calls as a customer verification method.
•               Bankia launches Bankia Fintech by Insomnia, a fintech incubator and accelerator in Valencia which first cohort is formed by 14 spanish fintech start-ups. During the presentation the CEO announced that the next programme will be open also to international fintech start-ups.
•               Citi launches ability to dispute a charge within mobile app. Credit card members can submit a merchant dispute on posted charges for an array of reasons including damaged items, returned goods, duplicate charge, etc. Once the dispute is submitted, card memebers will be notified via the app that Citi is taking action, the status of the case and what to expect next.
•               ING Direct Spain has announced that it already has 140,000 TwypCash users that can withdraw money from Dia Group supermarkets and Shell & Galp gas stations. Users also have a 4% discount in the purchases made in these merchants with the TwypCash app.
•               More than 10,000 spanish customers have made use of Carrefour fuel station mobile payments service since it was launched in the summer,  with 9 out of 10 saying it was a “very satisfying” experience. Carrefour has 125 stations in Spain and offered the mobile payment service to Pass cardholders in June 2016 through its Mi Carrefour app, allowing customers to pay for fuel without leaving their vehicle.


•               Mastercard expands its use of ledger technology and releases 3 new blockchain APIs to its developer site that allow developers to use the company´s blockchain technology in an effort to promote experimentation of the tool.
•               Antony Jenkins, former Barclays CEO, has launched his own fintech company called 10x Future Technologies and has already closed it first deal with Virgin Money to build a new digital banking platform. 

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