“As of October 2019, the U.S. personal savings rate stood at 7.8%, according to the St. Louis Federal Reserve. And a survey by Bankrate found that 40% of Americans can’t come up with $1,000 to handle an unexpected emergency. At a time when consumers are begging for help, banks have a chance to be a…
Tag: ai Banking
Visa is acquiring Plaid for $5.3 billion, 2x its final private valuation
“Plaid develops financial services APIs. It is akin to what Stripe does for payments, but instead of facilitating payments, it helps developers share banking and other financial information more easily. It’s the kind of service that makes sense for a company like Visa.” https://www.google.com/amp/s/techcrunch.com/2020/01/13/visa-is-acquiring-plaid-for-5-3-billion-2x-its-final-private-valuation/amp/ Image Credits: Sarah Wardlaw / Unsplash
TECHNOLOGY AND TRUST: BANKING IN AN EVOLVING MARKET
“Take Accenture’s Five Big Bets for Retail Payments in North America report, published in October last year. In a wide-ranging survey of US and Canadian banking experts, it found that between 11% and 15% expect to lose ground to fintechs and challenger banks, describing a market in which incumbents find themselves on unstable ground and faced…
THE RISE OF THE INVISIBLE BANK
“Digital banking technologies — including artificial intelligence, analytics, personal financial management software, internet of things, voice banking, banking as a service and fintech innovation — are converging toward one end goal: invisible banking Internet of things Voice banking Financial wellness Banking as a service, APIs and fintech partnerships” https://www.americanbanker.com/news/the-rise-of-the-invisible-bank Benoit Legrand Chief Innovation Officer http://linkedin.com/in/benoitlegrand
Brazil is emerging as a world-class AI innovation hub
“In Oxford Insights’ AI Readiness Index 2019, Brazil was ranked 40 out of 192 countries, a sign that the South American powerhouse is moving up in the AI world. Accenture forecast that by 2035 AI will boost annual growth rates across South America by about one full percentage point of GDP One area that’s particularly…