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fintechs — - 1 Sarah Kocianski - 1 Banks - 1 what's - 1 BII - 1
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BNP - 1 Alpha - 1 Societe Generale - 1 Insider Intelligence - 1 Business - 1 BI Intelligence - 1 Citi - 1 DBS - 1

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6 mentions found


☆ The public cloud is changing how Wall Street works. Here's how the tech is upending everything from trading to dealmaking.
  + stars: | 2022-02-23 | by ( Bianca Chan | ) www.businessinsider.com   time to read: +13 min
Cloud technology has now percolated through nearly every nook and cranny of Wall Street, affecting everything from investment banking to risk management and marketing. What's motivated the recent trend stems from two things that typically elicit change at financial firms: saving money and moving faster. But at least 30 Wall Street firms and well-known fintechs have publicly sided with one provider as a primary partner. "If you look at Wall Street, they have tens of thousands of people in back offices. Take Citibank, which accidentally wired $900 million to Revlon lenders in what is considered one of the largest blunders ever on Wall Street.
☆ Citigroup CFO Mark Mason breaks down the bank's approach to data and technology projects
  + stars: | 2021-12-03 | by ( Carter Johnson | ) www.businessinsider.com   time to read: +4 min
Citigroup, one of Wall Street's largest banks, is prioritizing consumer-banking technology. CFO Mark Mason told Insider about how Citi is using data to inform new tech opportunities. When Insider spoke with Mason, his team, like others across the bank, was in the middle of reviewing its annual budget. This year, Mason said, he and Fraser discussed how Citi's chief data officer for finance interacts with other data heads across the firm, including those in Citi's institutional and consumer businesses. Data on Citi's retail customers — for example, the bank counts more than 130 million credit-card customers across branded and cobranded offerings — is also important.
☆ Key trends helping payments disruptors take on financial services
  + stars: | 2021-06-15 | by ( Daniel Keyes | ) www.businessinsider.com   time to read: +4 min
Payments service providers are building an array of financial services to compete with financial institutions (FIs). Payments service providers are building an array of financial services to compete with financial institutions (FIs). Two trends are powering service providers' pushes into financial services: one from their own industry and another from banks and fintechs. The emergence of new digital distribution models for financial solutions has armed service providers with the tools to offer their clients financial services. And since those relationships are influenced by their established nonfinancial services offerings, their past operations may be just as important to their financial services pushes as their financial services themselves.
☆ PPP SMALL BUSINESS LOANS: How $525 billion in coronavirus-linked loans were spread across banks lenders
  + stars: | 2021-02-03 | by ( Insider Intelligence | ) www.businessinsider.com   time to read: +7 min
This is an update to our May and July PPP Small Business Loans reports. Its average loan size of $104,760 is just over the program's overall average of $101,000—this is particularly impressive when compared with its average loan size of $515,304 in the PPP's first tranche. It approved $6.55 billion in loans with an average loan size of $32,960, making it the bank with the lowest average loan size among top lenders. Best PPP LendersIn PPP Small Business Loans—the final of three updates—Insider Intelligence looks at how different lenders fared at implementing the PPP. Looks into PPP loan sizes and total fees gained by lenders, and examines total funded loans and average loan amounts for the top PPP lenders.
☆ Emerging markets, M&A, and new services: here are the key trends to watch in the fast-changing payments space
  + stars: | 2019-09-23 | by ( Shannen Balogh | ) www.businessinsider.com   time to read: +11 min
Emerging markets, led by Latin America, powered 6% growth in global payments revenue last year, according to a brand new report from McKinsey. Consulting firm McKinsey & Company published its 2019 Global Payments Map report on Monday at the Sibos conference in London. It flagged strong growth in areas of global payments revenue, and drilled down into changes that legacy financial institutions may need to make to capture some of the broader space. Emerging markets driving revenue growthMcKinsey expects payments revenues to top $2.7 trillion by 2023. One key factor of growth here is the increase in electronic payments, especially in emerging markets, the report said.
☆ The pros and cons of bank 'intrapreneurship' programs
  + stars: | 2017-11-10 | by ( Maria Terekhova | ) www.businessinsider.com   time to read: +6 min
BI IntelligenceThis story was delivered to Insider Intelligence "Fintech Briefing" subscribers. Last month, BNP Paribas launched its Alpha program, and this week, Societe Generale followed suit with what it calls an "intrapreneurship" program. This inward-looking approach to innovation has both pros and cons for banks:It ensures innovation comes from within the organization. Here are some of the key takeaways from the report:A failure to consider operating culture is already hurting banks' innovation projects. A few banks managed to identify the problems posed by their operating culture early on, started to implement changes to combat it, and are already seeing positive results.
Persons: fintechs —, Sarah Kocianski, Banks, what's, BII Organizations: BNP, Alpha, Societe Generale, Insider Intelligence, Business, BI Intelligence, Citi, DBS, ING
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