Banks and DeFi – like garlic to vampires? Or more like Peanut Butter and Chocolate

Alternative money management methods and payment approaches are also gaining speed, complicating the relationship between consumers and their preferred banking methods. With all of this change, where is DeFi’s place in banking? Is there a place for it? Join this must-see PYMNTS TV special as Editor-in-Chief Matt Nesto is joined by Algorand Director of Business Solutions Giuliana Berchicci and Bnext CEO & Co-Founder Guillermo Vicandi to discuss the state of the industry. 

DeFi: Crypto’s ‘Wild West’ of Finance - WSJ

Many are calling decentralized finance, or DeFi, the “Wild West of finance.” This fast-growing industry aims to provide automated banking services for cryptocurrencies to everyone, with no middle men. But DeFi is still in its early stages, which means there are risks. 

 

Understanding ESG in the Banking Industry

Surface temperature on the Earth have risen at a record pace in recent decades, creating risks to life, ecosystems, and economies. Climate science warns us that further warming is unavoidable over the next decade, and probably after that as well. Climate change poses a real threat and a huge risk to banks as key providers of finance for commerce and industry.

Climate change is putting banks at risk. This risk is being driven by two requirements facing the banking sector:

• Banks need to manage their own financial exposures, and these exposures are at risk because of climate change.  
• Banks are being driven by regulatory pressure to help finance a green agenda, a process that is critical to temper the impact of global warming. 
  

This course examines the outlined problems that banks are facing and provides practical guidance to assist them in complying with ESG requirements.

This online training course carries 2 CPE credits.

To register and access this online training course clink HERE. 

Can the Vatican reform its finances? - FT Film

The FT investigates the Holy See's finances and looks at how landmark proceedings linked to a controversial London property deal are seen as part of Pope Francis's reforms in the city-state. 

 

Monetary Authority of Singapore Kicks off FinTech Festival

Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore, shares the central bank's ambitions to become a global fintech and crypto hub. This year's Singapore FinTech Festival that is taking place this week will focus on "Web 3.0." Mohanty speaks with Haidi Stroud-Watts and Shery Ahn on "Bloomberg Daybreak: Asia."

 

“TOP READS OF THE WEEK” (for week 30 October to 5 November)

This is the final edition of TOP READS OF THE WEEK in this format.

However, you can still get all the top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management by reading / subscribing to the “Citadel Advantage News Digest”.

The Citadel Advantage News Digest is published at least twice a week with all the latest news on Banking, Fintech, Payments, Operations Risk and much, much more. Check it out!

Subscribe to our newsletter click HERE. Under the topmost item “Newsletter” click on “Start reading” to access.

In this weeks selection;

Top Reads

• Meta CEO Zuckerberg predicts the metaverse will be mainstream in 5-10 years
• Banks' green pledges under scrutiny
• What We Can Learn From The Sub-Saharan African FinTech Infrastructure
• Sorry, Mark. You Don't Own the Metaverse
• Starling CEO says open banking a flop: Other fintech chiefs beg to differ
• Citi makes COVID-19 vaccine mandatory for 65,000 US employees
• Regulator previews coming crypto, stablecoin policy
• Fintech Apps Still Depend on Old-School Banks to Move Money
• A Battle for Earth: 5 Ways IoT Can Help Save Our Planet
• Elon Musks Lessons In Business Scaling
• The advantages of an AI/ML-enabled search engine for FDA records
• UK regulators warn financial sector still failing to account for key climate risks
• Protecting The United States' Critical Infrastructure From Cyberattacks
• Global rule maker created for ESG disclosure standards
• Pandora Papers highlight the importance of PEP checks as part of AML armoury

From our Blog

• The Great Resignation: Why Millions Of Workers Are Quitting
• Facebook Name Change Signals High-Stakes Race for 'Metaverse'
• China's Race for AI Supremacy
• Understanding and Responding to Bribery & Corruption Red Flags
• See what three degrees of global warming looks like
• The Cost to Reduce Global Warming? $131 Trillion Is One Answer

Fintech is only 1% finished

Fintech is only 1% finished. But what do we mean by that? 

Simon Taylor, Head of Ventures at 11:FS takes us through the landscape of financial technology in this Lightboard edition of 11:FS Explores. When you take a look at the customer numbers that financial services brands are serving in any particular segment, it’s apparent that the majority of UK Fintech brands currently operate within areas that have high customer numbers, but low value-per-customer. 

For example, areas with high customer numbers such as retail are being served by market-leaders such as Monzo, Starling, and Revolut. Retail is one of the most over-served markets by digital banking providers at the moment - but considering 12 million UK customers have a digital bank and the majority aren’t moving their salary into it, there is still a lot of work to be done, and that shows it. But the biggest edge in recent times is the massive changes to the supplier landscape - from onboarding and KYC, to payments, to Banking as a Service. 

Prospective fintech companies now have the chance to assess the opportunity space for their proposition and to get a full view of the suppliers available to them. With such a robust supplier landscape emerging - it means that any company can be a fintech company. The market has blown wide open.

“TOP READS OF THE WEEK” (for week ending 22 October)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• What is Google FLoC and How Does It Affect Your Privacy
• Facebook's Novi launches digital currency wallet pilot
• Is ethical banking a thing?
• 4 Women-led Crypto Projects That Are Driving the Blockchain Industry
• Broadcom Software's Symantec Threat Hunter Team discovers first-of-its-kind ransomware
• SEC Revives Proposal to Claw Back Executive Pay
• The surge of fintech in South America
• Forensics Monitoring Is Blockchain’s New Sheriff
• Essential Aspects of Cloud Compliance for Financial Services
• Amex will let employees work wherever they want one month a year
• Supply-Crunch Inflation Gives Central Banks an Unfixable Problem
• Treasury goes into damage control on bank data reporting
• Ransomware summit takeaways: Pledges to disrupt safe havens, money laundering
• No profit worries? Earnings week still served up drama
• What Emerging American Legislation Means for Crypto Assets and CBDCs
• Deutsche Bank’s ESG executive slams industry’s greenwashing practices
• These are the top 10 tech trends that will shape the coming decade, according to McKinsey
• 8 security and risk management trends to watch: Gartner
• Is PayPal pining for Pinterest?
• 3 Reasons Financial Institutions Can't Let Mergers Stall Innovation

From our Blog

• Three ways to make better decisions - by thinking like a computer
• China’s Silicon Valley is Hiding a $30 Billion Fortune
• How to Plan and Implement an Ethics & Compliance Risk Assessment Program
• Podcast “American Kleptocracy”
• China's Xi Dials Back Economic Overhaul
• Is China's economic model broken?

“TOP READS OF THE WEEK” (for week ending 15 October)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• Analysts pin Google retail bank U-turn on fears of higher regulatory scrutiny, low profitability
• JPMorgan Chase joins UN's Net-Zero Banking Alliance
• Why Chatbots Fail in Banking
• We may visit you at home, British financial watchdog warns bank staff
• SocGen to Cut 3,700 Jobs as Part of Domestic Retail Merger
• Crypto Could be in Trouble after China Declares all Crypto Transactions Illegal
• Two Key Digital Payments Trends in the Post-COVID World
• Capgemini’s World Payments Report 2021
• Are NFTs a Money Laundering Gold Mine?
• From tech tool to business asset: How banks are using B2B APIs to fuel growth
• Will massive outage set back Facebook's payments plans?
• 15% minimum global corporate tax faces obstacles: Tax Foundation
• U.S. SEC opens inquiry into Wall Street banks' staff communications -sources
• What's next for banks that partnered with Google now that the tech giant has scrapped its checking-account push
• How to Explain NFTs to People Who Think Theyre Just JPEGs
• Is Apple Pay Secure? - Platform Security and Privacy Overview
• DeFi Glossary 2021: Pretend You Know What is Going on
• AI Is No Match for the Quirks of Human Intelligence
• Credit-card firms are becoming reluctant regulators of the web
• Cyberattack on Ukraine grid: here's how it worked and perhaps why it was done
• Analysts pin Google retail bank U-turn on fears of higher regulatory scrutiny, low profitability
• IoT: Beyond Alexa
• ISO 20022 just one of the key steps towards cross-border payments interoperability
• PayPal takes stake in Latam SPAC

From our Blog

• How to Plan and Implement an Ethics & Compliance Risk Assessment Program
• Bitcoin Miners Tap Hydropower as Environmental Criticism Grows - WSJ
• Podcast “American Kleptocracy”
• Malinvestments, When Your Eyes Are Bigger Than Your Stomach
• Evergrande Woes Spread to China’s $12 Trillion Local Market
• 3 Major Questions Around Evergrande's Debt And China's Economy That Remain Unanswered

“TOP READS OF THE WEEK” (for week ending 8 October)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• Card critics call for credit routing scrutiny
• Visa Unveils UPC for Blockchain
• Google abandons plans to offer Plex checking accounts
• How Do I Get a Job in Crypto? Postings in Industry on the Rise
• Open Banking is finally here … it’s only taken 30 years!
• Digital bank fined by regulator due to weak anti-money laundering controls
• How AI is transforming the world of finance
• How to be cyber smart
• EC preps antitrust charge over Apple NFC chip access
• Neobank Alternative: Building a Hybrid Digital-First Bank from Scratch
• Your Dev Skills Deserve Recognition, so Hack the Email of Your Boss
• Richer data poised to become the pre-condition for cross-border payments to thrive
• JPMorgan stiffens vaccination policy
• Top global companies falling short in protecting domain security
• Companies Want FASB to Focus on Crypto, ESG-Related Rule Making
• Bitcoin, ‘Green’ Details Are Most-Requested Accounting Fixes
• Why You Should Quit Social Media Permanently
• What would persuade bank holdouts to share customer data?
• Spat erupts over postal banking pilot
• Parents’ Ultimate Guide to Cybersecurity
• BIS GM issues Facebook stablecoin warning
• Why Windows 11's security is such a big deal
• Why CEOs become communication chiefs after a cyberattack
• Companies expect surge in health care costs in 2022

From our Blog

• How to Plan and Implement an Ethics & Compliance Risk Assessment Program
• Tesla Prepares for Wider Release of Its Driver-Assistance Software
• How do carbon markets work? -The Economist
• Visa is working on a universal payment channel
• What China’s New Data Rules Mean for Tesla and Other Auto Makers
• Flags of Convenience - Bribe, Swindle or Steal Podcast
  

“TOP READS OF THE WEEK” (for week ending 1 October)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• The NSA and CIA Use Ad Blockers Because Online Advertising Is So Dangerous
• Jamie Dimon says 'you're a fool' if you borrow to buy bitcoin, and that he wouldn't care if its price increased 10 times
• U.K. Investment Banks Pay Women 56% of What Male Colleagues Make
• US extradites highly-prized hacker back to Russia
• What Does Bitcoin Mean for the Payment Industry of El Salvador?
• Should Your Web History Impact Your Credit Score? The IMF Thinks So
• Big Tech CEO Insider Trading During the First Half of 2021
• SEC chair Gensler worried ‘people will be hurt’ without crypto and SPAC regulations
• Visualizing the Rise of Cryptocurrency Transactions
• New York Fed researchers design climate stress test for banks
• Lazard associates are now the highest paid on Wall Street after a pay bump raises the base salary to $200,000
• Don't hold your breath for a US CBDC
• AB InBev CFO: 'You can't hide when a pandemic hits'
• Swedish university fined $66,000 for GDPR violations
• Fintech and Banking Software Firm Velmie Launches FX and Cross-Border Transfer Service in Middle East
• 4 Tech-Driven Forces That Could Bulldoze Banks Off the Map
• Mastercard to launch new BNPL service
• Wells Fargo fined $37.3M to settle DOJ foreign-exchange case
• New York Fed researchers design climate stress test for banks
• Bank Mergers Are On Track to Hit Their Highest Level Since the Financial Crisis
• Microsoft warns of new credential-stealing backdoor from SolarWinds threat actor
• In first, Japan names China, Russia and North Korea as cyberattack threats
• WhatsApp to help rural, cooperative banks accelerate digital banking adoption
• How Yahoo Built a Culture of Cybersecurity
• Central banks and the BIS explore what a retail CBDC might look like
• What China’s new data privacy law means for US tech firms

From our Blog

• How to Plan and Implement an Ethics & Compliance Risk Assessment Program
• The Frequency of Payroll Payments at U.S. Small Businesses
• What China’s New Data Rules Mean for Tesla and Other Auto Makers
• Flags of Convenience - Bribe, Swindle or Steal Podcast
• Why China’s Evergrande Has Global Markets on Edge

“TOP READS OF THE WEEK” (for week ending 24 September)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• Fed won't go it alone on CBDC
• There are new scams on mobile payment apps—and teens aren’t immune
• Companies must develop operational plan for ransomware recovery
• After 400 attacks, feds warn of Conti ransomware
• BlackRock losing 'patience' on pace of corporate ESG disclosure
• Deutsche Bank Explored Wells Fargo Custody Deal Before Fed Snub
• Credit Suisse charges investors to prop up Greensill Capital
• After years of being 'squeaky clean,' the Federal Reserve is surrounded by controversy
• U.S. cash payment kiosks rise despite digital age
• Companies must develop operational plan for ransomware recovery
• Corporate credit rebounds from record slump: Fitch
• The beguiling promise of decentralised finance
• Opinion | Do We Need to Shrink the Economy to Stop Climate Change?
• Record $15 Billion SPAC Merger Just Happened For A Technology You've Never Heard Of
• NY Fed vice president urges industry to move faster on Libor transition
• Funding for fintechs: patterns and drivers
• Recently reported Microsoft zero-day gaining popularity with attackers, Kaspersky says
• Finance industry warns against 'unnecessarily restrictive' crypto capital rules
• How buy now, pay later became a $100 billion industry
• Banks Oppose Strict Basel Rules Targeting Cryptocurrencies
• Trump Organization CFO appears before New York Supreme Court
• Forward Thinking on artificial intelligence with Microsoft CTO Kevin Scott
• EBA paves the way for tighter scrutiny of digital platforms
• US government ready to roll out the big guns against crypto ransomware payments
• In era of quick-fire bosses, Wall Street embraces the 'forever CEO'
• Web hosting cybersecurity concerns

From our Blog

• The Evergrande Crisis Intensifies
• The Inside Story of the Ship That Broke Global Trade
• Ray Dalio on Evergrande, China, Bitcoin and the Fed
• Evergrande - A Simple Explanation And Thoughts from the "Uneducated Economist"
• Cybercrime Rising on Telegram? & SEC Seeks Crypto Regulation

“TOP READS OF THE WEEK” (for week ending 17 September)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• At Fault or Default? Lessons in Leadership We Can Learn from the Collapse of Kabul
• JPMorgan's UK digital bank set to launch Tuesday
• IOSCO calls on asset managers and intermediaries for stronger AI and ML processes
• Pandemic-led AP workarounds unfit for future of hybrid working, adviser warns
• McKinsey on Risk, Number 11, August 2021
• 8 Helpful Everyday Examples of Artificial Intelligence
• How do Mid-Sized banks compete with Fintech
• Bank of America to scrap CMO role after top marketer leaves this year
• JPMorgan to buy majority stake in Volkswagen's payments business
• 'Big game hunters': Ransomware groups target their perfect victim
• Bank of America names new CFO, adds 3 women to senior management
• Eight Emerging Technologies That Are Shaping FinTech Industry In 2021
• Gartner: AI is moving fast and will be ready for prime time sooner than you think
• Alipay break-up is power grab by China's government
• Apple releases emergency patch to protect all devices against Pegasus spyware
• Advantages and Disadvantages of Artificial Intelligence: How To Use AI in Your Business
• FiVerity: The Outsized Value Of Collaboration In The Fight Against Cyber Fraud
• WFH is a cybersecurity "ticking time bomb," according to a new report
• Banks delay return to office as delta variant surges
• Boards rethink incident response playbook as ransomware surges
• Cryptocurrency Payment Gateways to The Future
• How Digital Transformation Is Revolutionizing Digital Finance
• Crypto Kid Fraudster Gets 7 1/2-Years for Ponzi Scheme
• U.S. cash payment kiosks rise despite digital age

From our Blog

• Apple’s Big September News - iPhone 13, Apple Watch Series 7 and iPad Mini
• Hundreds of iPhones Are in ‘Ted Lasso.’ They’re More Strategic Than You Think
• China Seeks to Break Up Alipay, Separate Loan Business
• Why Your Uber and Lyft Rides Are So Expensive