I just found a fascinating report from data.ai about the state of mobile usage today. Apparently we spend a third of the day, on average, playing with our phones. The mobile economy is now worth more than half a trillion dollars; with most of it generated through spending on mobile adverts; and almost 500,000 apps……

I just found a fascinating report from data.ai about the state of mobile usage today. Apparently we spend a third of the day, on average, playing with our phones. The mobile economy is now worth more than half a trillion dollars; with most of it generated through spending on mobile adverts; and almost 500,000 apps……

Valley Bank is looking to move all its operations to the cloud by 2026 to achieve efficiency and scalability.  The $61 billion, Morristown, N.J.-based bank has between 75% and 80% of its operations on the cloud already, Chief Operations Officer Russ Barrett told Bank Automation News. Snowflake is Valley’s primary data hub provider, Barrett said.…

The peer-to-peer payments market is growing as consumer demand ticks up and new competitors enter the space.  P2P payment market size is expected to reach $6.4 billion by 2028, according to a January report by market research group The Business Research Co.   In fact, 81% of banked U.S. consumers have P2P accounts, according to a…

Things we’re reading today include … Bank locks customer’s account after donation to UNRWA – SKWAWKBOX JPMorgan vs Goldman: How Jamie Dimon’s bank gains from the confidence factor (ft.com) Chime was once valued at $25 billion. What is it worth now? (yahoo.com) Chinese fintech giant Ant Group sets up AI unit led by former Google……

Visa extended partnerships and made new connections during its fiscal first quarter as it looked to expand its reach, develop new use cases for its offerings and push its peer-to-peer payments capabilities.  “We remain obsessed about serving our customers, including traditional bank partners, neobanks, fintechs, wallets, sellers, acquirers and everyone else,” Chief Executive Ryan McInerney…

Things we’re reading today include … U.K. to start work on ‘Britcoin’ in preparation for cryptocurrency dominated world | Morningstar Bank of England lays out how Britons can ‘pay the electrician’ using cashless digital pounds (gbnews.com) Bruised by stock market, Chinese rush into banned bitcoin | Reuters UK neobanks need to show sterling qualities, not……

I got into a Scruples debate this week. You know Scruples? A feeling of doubt or hesitation with regard to the morality or propriety of a course of action. Well, that’s the dictionary definition. The real definition should be where you know something is wrong morally and ethically, and wonder what to do about it….…

IBM clients continue to prioritize digital transformation through the cloud and investment in AI as tech spend remains strong across the banking industry.   “This focus on digital transformation and AI initiatives to drive productivity and cost savings has been consistent throughout the year,” Chief Financial Officer Jim Kavanaugh said during IBM’s Q4 2023 earnings…

Venture funding fell in 2023 as investors took uncertain macroeconomic conditions into account and doubled down on due diligence.  Global venture funding in 2023 stood at $248.4 billion, down 42% year over year, its lowest point since 2017, according to a Jan. 4 State of Venture 2023 report by business analytics provider CB Insights. Global…