Ep. 166. News: 'Tis the Season for Open Banking
About This Episode
First up on today's show, Alibaba's Ant Financial has abandoned a $1.2bn takeover of MoneyGram. So what were the US regulator's concerns over national security and personal data.
Continuing the regulatory theme, we explore open banking and traditional banking. The guys discuss why open banking might threaten the survival of traditional banks. Plus, new research suggests that consumer awareness of open banking is at a major low, amidst suggestions that in 2018 you'll pay through Amazon and Facebook.
Next, we ask what is MiFID II and how will it increase transparency and bolster investor protection?
The guys discuss why the credit card fees ban has backfired, and why consumers face new 'service charges' and higher prices.
Is it right that by 'fat-cat Thursday', top bosses' pay after just three days overtakes workers' average annual salary?
After a very relevant tweet, we return to a story from Ep. 141. The future will be tokenised, with an update on the Chinese government's plans to give every citizen a score based on their trustworthiness. So does this sound like a great endorsement of your behaviour or an Orwellian intrusion? Let us know your thoughts @FintechInsiders.
In the last story for this week's news, why psychedelic stickers are blowing AI minds. We think these might become quite popular in the near future...
And finally on today's show, we offer our predictions for 2018. Tune in to hear the team's thoughts on open banking, SMEs and anticipatory design, and check out our 2018 predictions blog.
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