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Paul Davis

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New OCC Fintech Charter Gives Challengers & Neobanks A Competitive Edge

Posted by Paul Davis on Jul 22, 2021 9:15:00 AM

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In recent years, challenger banks, neobanks, and other fintech startups have intensified their efforts to compete as financial services providers. Now, regulators have renewed interest in shifting the odds in their favor.

By obtaining a new specialized charter through the Office of the Comptroller of the Currency (OCC), new competitors may gain strategic advantages over more conventional banks and credit unions.

Here is a closer look at some legal and regulatory developments which could determine just how entrenched fintechs will become in the payments system – and how competitive they can be with core banking products and services.

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Topics: Payments, Fintech, Digital Banking, FDIC, Challenger Bank, Neobank, Growth Strategies

SRM Mid-Year Trends 2021 | Banks & CUs Perform Balancing Act

Posted by Paul Davis on Jul 14, 2021 9:30:00 AM

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SRM recently released its list of 2021 midyear trends that banks and credit unions should monitor during the second half of this year. Naturally, these developments didn’t appear out of thin air – our top-performing project managers and experts make it their business to examine and spotlight those topics which carry the greatest strategic impact for payments and financial services.

In this post, SRM shines a light on some big acts we’ve long anticipated will draw attention by the millions, billions, and trillions.

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Topics: Digital Banking, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, payment trends, Voice Assistants

How FIs are Exploring Fintech

Posted by Paul Davis on Jun 30, 2021 9:36:00 AM

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Financial Institutions (FIs) have long had a curiosity regarding fintech.

There were concerns that these digital disruptors would create more competition for traditional financial services providers (without as much regulatory oversight), but banks and startups are starting to embrace opportunities to collaborate.

Conversations about partnerships between FIs and fintech intensified in the wake of the coronavirus pandemic, as scores of consumers and businesses became digital converts and there was a greater need to make day-to-day tasks easier (and safer) for those customers.

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Topics: Fintech, Digital Banking, Online Lending, M&A

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