Fintech firms are toning down the fighting talk that marked the beginning of the movement as the realisation dawns that they will be hard-pushed to succeed without the support of incumbent banks. That's the conclusion of Capgemini's World Fintech report which charts the 'fizzling out' of the much-hyped fintech revolution.
Barclaycard is inviting customers of high street chain Prezzo to 'Dine & Dash' in consumer trials of a new app that enables diners to bypass the bill paying process in restaurants.
Belgian bank KBC is integrating services from non-banks into its apps, enabling customers to pay for their parking and check the balance on employer-issued meal vouchers.
Bank of America is planning to open more than 500 branches over the next four years as part of a programme that will see another 1500 sites revamped with new technology.
The European Fintech Alliance has fired another broadside in its tussle with the financial services establishment over PSD2, raising fears that banks will develop substandard APIs as a way to fend off competition.
Despite growing cooperation between financial institutions and fintech startups, collaboration remains challenging and time consuming, according to a survey of players from both sides.
The introduction of Open Banking in the UK may contribute over £1 billion annually to the UK economy and support the creation of up to 17,000 new jobs, according to analysis by economics consultancy the Centre for Economics and Business Research (Cebr).
The UK's NatWest is launching four specialist fintech accelerators based in its Bristol, Edinburgh, London and Manchester sites.
ANZ has taken a stake in Sydney-based startup Data Republic in preparation for the introduction of new rules governing the sharing of customer account data with third party firms.
Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN.
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