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Future shape of banking - Time for reformation of banking and banks? (report) | PwC - 2014
Given the current economic climate, in particular the focus on the European Central Banks Comprehensive Assessment and the move to the Single Supervisory Mechanism, a working group from the PwC Response to the economic crisis in Europe (REcCE) network has developed a provocative point of view paper on the future shape and nature of banking services and of “banks” themselves. Future shape of banking outlines four key areas banks need to address in order to remain relevant, as we argue that the future of banking will look very different to what we see today and that while the need for banking services remains – traditional banks need to sharpen their strategic focus and regulators and regulation will also need to adapt.... adding up to a paradigm shift in the banking landscape. -- downloaded pdf to Note
international_political_economy  international_finance  international_monetary_system  banking  financial_regulation  financial_innovation  disintermediation  payments_systems  central_banks  tech  NBFI  liquidity  leverage  investors  downloaded  EF-add 
september 2014 by dunnettreader
PayPal who? Dwolla is the most daring digital payment startup you've never heard of | The Verge
"Dwolla is a fascinating company, because they are trying to build a whole new set of rails for moving money," says Mark Egerman, who ran the mobile payments division at the Consumer Financial Protection Bureau. "The ACH system is completely broken, and it's amazing to watch someone take that on." Working at the CFPB, Egerman saw firsthand how hard merchants were hit by the credit card system. "Restaurants were losing huge amounts of money and having to wait weeks to get their funds. Whoever can solve that problem will have a huge impact and a huge business"

But while Egerman is excited about Dwolla's mission, he remains skeptical about their chances. "In order for it to be really useful you need a ton of supply and demand. They are trying to build a two-sided market, and that is very tough, because you can't attract one without the other. It's a chicken and egg problem."
financial_system  banking  tech  consumers  SMEs 
november 2013 by dunnettreader

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