Some days ago I was writing about the challenges of the traditional banks. This morning I was creating an e-mail on Gmail while I was connected from UK and this message came to the front-end of the screen:
Google already arrived to the customer “as a Bank”, no as an IT company.
Other examples:
- Foreign exchange is offered by Kantox where the average price is 0,20%. The traditional banks takes an avg of 2%.
- Major retail companies from USA (Rite Aid, Wallmart, CVS…) built a consortium named Merchant Customer Exchange (MCX). They created a new payment system around CurrentC and they rejected the use of Apple Pay. After years of not having the right services and cover the business expectations, this August 2015 Rite Aid announced that they are opening the payment with Apple Pay. MCX is not a bank, it’s an IT organization which has not been able to deploy their ecosystem in the market.
- SumUp, leader in credit cards payments through the mobiles, closes 10m€ round.
Companies supporting banks on their internal processes with very specific software solutions:
- Fircosoft, it’s the market leader of watch list filtering solutions, Fircosoft filters transactions and customers against sanctions and PEPs lists to ensure compliance with regulations on terrorist financing, embargoes and FATCA, and meet Know Your Customer (KYC) and customer due diligence (CDD) requirements.
- Actimize: Detect, prevent, and investigate money laundering, fraud, and compliance violations with a holistic view of risk across your organization.
Who’s next?
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