By Russell Bennett
The U.K. fintech scene is booming with 2019 expected to be a record year for investment after the sector hit a new high of $2.9 billion (£2.3 billion) in funding in the first six months of the year. The U.K. has now become synonymous with highly successful fintechs, such as Monzo and Starling, which is helping to cement the country as a leading fintech market. The U.K.’s fintech success has led to London being widely considered the ‘fintech capital’ of the world. However, as the U.S. fintech sector continues to go from strength to strength, receiving $18.3 billion in investment across 470 deals in the first half of this year, will London be able to hold on to this this title for much longer?(more…)
By Tim Grabacki
Despite a reductions of the branch footprint and digitalization of some products and services, costs associated with branch networks still hover around $1 million to $2 million to operate annually (depending on size and location).1 Cash processing, in particular, remains a costly part branch operations with high manual labor, especially related to processing. As McKinsey notes, in regions with rising labor costs and in the context of rapid digitalization of bank operations, the share of cash costs has become “increasingly relevant.”2(more…)
By Alaina Webster
When considering how to connect with current and prospective customers, many banks turn to events. Host an event on launching a startup business, maybe win yourselves a few more small business loans. But hosting an event and hosting an event well are two different things, something Kelly Bauer, associate director of the Bank Holding Company Association knows from experience.