This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- Nine of the UK’s leading banks have come together to fund the development of shared banking hubs across the country. 29 hubs have currently been announced, giving people continued access to face-to-face banking and cash where needed. [source: Finextra]
While digital only banks and digital currencies are ever increasing, face to face banking can be more beneficial due to the personalised customer experiences. This fosters customer loyalty and leads to a greater level of trust between the customer and the banks. Boomer alert! – Jovi
- Bitso, LatAm-focused cryptocurrency exchange is partnering with Felix Pagos, chat-based payment provider, to offer WhatsApp remittance services between Mexico and the US. The transactions will take around 45 seconds to send and enable practically real-time settlement. [source: Bitcoin.com]
Purchasing and transaction management through social media and communication apps has been on the rise. And so, in integrating crypto into the space, this will go some way to show that cryptocurrencies can solve real problems and deliver value to customers. – Jovi
- Bankless Times has predicted that Banking as a Service revenues will grow to $75 billion by 2030. With growth in banking innovations, BaaS is expected to continue providing tools and services that allow for customisable financial solutions [source: Bankless Times]
BaaS’ growth is being driven by increasing demand for fast access to financial services, mobile banking, and digital payment processing solution. As the banking industry transitions to digital technology, businesses are adopting banking as a services to increase customer convenience, improve efficiency and reduce costs. – Jovi
See you next week, back in the blog for your next weekly news roundup.
