ING refocusing digital strategy amid COVID-19 turbulence
ING’s Q3 report announces shifting digital ambitions, with 1,000 job cuts planned for next year. As digital customer numbers rise, the bank will turn its focus to offering greater digital flexibility.
WhatsApp rolls out payment service in India
WhatsApp has finally received regulatory approval to roll out its payment service for its Indian users. Although first launched as a beta in 2018, full rollout has been delayed due to concerns about data storage and sharing. This launch is big news for WhatsApp since India is its largest market with around 400 million users.
Bank of Montreal launches AI-powered cashtrack tool
As many customers are likely to be struggling financially due to Covid-19, Bank of Montreal has added an AI-driven feature to its PFM platform to give customers real-time financial insights that predict any upcoming cash shortfalls.
TSB and Wealthify team up to offer customers new ways to save and invest
TSB and Wealthify have partnered to make investment opportunities directly available to TSB’s five million customers via the TSB app or internet banking. The bank is responding to changing consumer behaviour due to Covid-19, with 40% of people saying they have prioritised their money more during lockdown.
Hong Kong FinTech Week: What’s next in our fintech journey?
At last week’s Hong Kong FinTech Week 2020, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority gave a keynote speech outlining the three core principles of banking: good service, customer trust, and efficient capital management. He went on to explain that although technology might be replacing some traditional banking channels and processes, it ultimately enhances those core principles – Read the full speech.