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Demand for Digital Payments Is Climbing, but Regulatory and Operational Hurdles Persist

October  19 — Digital payments are experiencing a boom, driven by developing markets, according to Capgemini and BNP Paribas’ World Payments Report 2018. However, the innovation landscape is payments is uncertain as bigtech entrants make their presence felt, and incumbents face technical and regulatory complexity in the development of new collaborative payments ecosystems between themselves and fintechs. According to the report, it will take more than bank-led initiatives to grow the new payments landscape. The broader financial services community — including public-sector organizations, regulators and third parties — must determine their new roles and work together with large payment users to ensure a smooth, balanced and robust payments ecosystem development.

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Could Digital Disruption Put Banks’ Revenue Growth at Risk?

October 18 — New entrants to the banking market — including challenger banks, non-bank payments institutions and big tech companies — are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according to new research from Accenture.

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Digital Engagement Drives Consumers to Seek Financial Services from Non-Financial Sources

October 17 — The latest quarterly consumer trends research from Fiserv Inc. shows that as the importance of digital engagements has grown, so has consumer comfort using non-financial companies to conduct financial activities. While consumers remain most comfortable with traditional financial organizations, a growing number say they would use a technology company such as Apple or Google to pay bills, take out a loan and conduct other financial activities.

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Millennials and Money: What Big Banks Can Learn from Credit Unions’ Video Banking Success

By Damien Simonneau

When it comes to courting millennials, there’s a lot banks can learn from credit unions. While banks have more overall marketing power, with bigger budgets and more branch locations than their credit union counterparts, credit unions have one major advantage over banks today: their ability to be nimble and experiment with new technologies to attract and retain members — especially the digital-savvy millennial. According to BluCurrent Credit Union, nearly half (44 percent) of all new members are millennials.

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Consumers Can Now Purchase Bitcoin at ATMs

October 15 — Boston, Ma.-based LibertyX and Genmega, Hayward, Calif., announced the launch of America’s first debit Bitcoin ATM. Consumers using these ATMs can use their debit cards to purchase Bitcoin at up to 100,000 ATMs in the U.S. Through this partnership, any Genmega ATM can enable the LibertyX capability and start selling Bitcoin to consumers via a simple update process.

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