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AMSTERDAM — Deutsche Bank is one of multiple financial institutions sharing anonymized data with financial messaging service provider Swift.   The process will test the use of secure data-sharing for AI-driven fraud prevention, Joanne Hannaford, chief information officer and chief product officer of corporate bank at Deutsche Bank, said at Money2020 Europe on June 4. …

The Consumer Financial Protection Bureau is soliciting financial services stakeholders to help form a framework for sharing data ahead of open banking in the United States.  The CFPB on June 5 finalized a rule outlining which entities qualify as acceptable “standard setters” to include nine or fewer financial organizations, consumer advocates, small companies and large…

Things we’re reading today include: Elon Musk is hiring HFT quants and fintech engineers at AI his new AI startup (efinancialcareers.com) Fintech Conference Shows Mixed Sentiments Amid Uneven Growth – Finimize ‘Mastercard for Fintechs’, introduced to support the fintech ecosystem in Western Europe – ThePaypers Banking turmoil and regulatory reform | CEPR How U.S. Bank……

In a long strategy session yesterday, we were trying to list the things that are hot and what’s not in fintech. So, what’s hot? Obviously crypto and AI. However, those are the headline buckets, what’s the detail? The detail is the use cases of crypto and AI. This is something I say often, as you……

AMSTERDAM — Consumers are more likely to interact with a business with a frictionless payment experience in place.   Sixty-one percent of merchants say payments is a high area of focus, according to Discover Global Network’s “Payment State of the Union” report, released June 3. The report, which surveyed 5,030 consumers and 2,258 merchants globally,…

NEW YORK — The Nasdaq Stock Market index is using AI to streamline its efforts to investigate suspicious trading and anti-money laundering.  The New York-based exchange is using gen AI to identify behaviors like pump-and-dump or spoofing schemes in trading, Tony Sio, head of regulatory strategy and innovation at Nasdaq, said at this week’s AWS…

This week’s main blog discussions include … What’s hot and what’s not in fintech? In a long strategy session yesterday, we were trying to list the things that are hot and what’s not in fintech. So, what’s hot? Obviously crypto and AI. However, those are the headline buckets, what’s the detail? The detail is the……

Things we’re reading today include … Money20/20 Europe Unveils Six Incredible Fintech Startups And Industry Disruptors (crypto-reporter.com) Project mBridge reaches minimum viable product stage and invites further international participation (bis.org) Watchdog orders Deutsche Bank to re-examine 20,000 risky customers by June (yahoo.com) NatWest’s virtual ‘assistant’ handling double the number of customer queries | Express &……

In discussion with other investors, we were talking about what’s hot and what’s not in fintech. What’s hot I discussed the other day. What’s not is today’s discussion. Our conclusion was that digital banking, neobanks and challengers, BaaS, payments, lending and other well trodden fintech fields are no longer hot. Been there, done that. These are the areas……

Things we’re reading today include: How To Rob a Bank: the wild true story of ‘Point Break’ robber Scott Scurlock, the (telegraph.co.uk) Beware the Bank of Mum and Dad’s grey areas (ft.com) Major bank with 1.5 million customers axes popular service ‘after 25 years’ (yahoo.com) Bank of Canada cuts rates by 25bp | articles |……