{"id":2386,"date":"2015-08-04T16:04:34","date_gmt":"2015-08-04T16:04:34","guid":{"rendered":"http:\/\/joapen.com\/blog\/?p=2386"},"modified":"2015-09-24T15:49:10","modified_gmt":"2015-09-24T15:49:10","slug":"the-reality-of-traditional-banks","status":"publish","type":"post","link":"https:\/\/joapen.com\/blog\/2015\/08\/04\/the-reality-of-traditional-banks\/","title":{"rendered":"The reality of traditional banks"},"content":{"rendered":"<p>Some days ago I was writing about <a href=\"http:\/\/joapen.com\/blog\/2015\/07\/23\/the-challenges-for-traditional-banks\/\">the challenges of the traditional banks<\/a>. 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:<a href=\"http:\/\/joapen.com\/blog\/2015\/08\/04\/the-reality-of-traditional-banks\/gmoney\/\" rel=\"attachment wp-att-2387\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-2387 size-full\" src=\"http:\/\/joapen.com\/blog\/wp-content\/uploads\/2015\/08\/GMoney.jpg\" alt=\"GMoney\" width=\"442\" height=\"216\" srcset=\"https:\/\/joapen.com\/blog\/wp-content\/uploads\/2015\/08\/GMoney.jpg 442w, https:\/\/joapen.com\/blog\/wp-content\/uploads\/2015\/08\/GMoney-300x147.jpg 300w\" sizes=\"auto, (max-width: 442px) 100vw, 442px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Google already arrived to the customer &#8220;as a Bank&#8221;, no as an IT company.<\/p>\n<p>Other examples:<\/p>\n<ul>\n<li>Foreign exchange is offered by <a class=\"twitter-timeline-link\" dir=\"ltr\" title=\"http:\/\/kantox.com\" href=\"http:\/\/t.co\/VW1hP8Xi5f\" target=\"_blank\" rel=\"nofollow\" data-expanded-url=\"http:\/\/kantox.com\"><span class=\"invisible\">K<\/span><span class=\"js-display-url\">antox<\/span><span class=\"tco-ellipsis\"><span class=\"invisible\">\u00a0<\/span><\/span><\/a> where the average price is 0,20%. The traditional banks takes an avg of 2%.<\/li>\n<li>Major retail companies from USA (Rite Aid, Wallmart, CVS&#8230;) 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 <a href=\"http:\/\/www.businessinsider.com\/apple-pay-coming-to-rite-aid-2015-8\" target=\"_blank\">announced<\/a> that they are opening the payment with Apple Pay. MCX is not a bank, it&#8217;s an IT organization which has not been able to deploy their ecosystem in the market.<\/li>\n<li><a href=\"https:\/\/sumup.co.uk\/\">SumUp<\/a>, leader in credit cards payments through the mobiles, <a href=\"https:\/\/www.webcapitalriesgo.com\/dos.php?activo=M1&amp;pagina_noticias=noticias\/jul-sep-2015\/310815_6_8884.htm\">closes 10m\u20ac round<\/a>.<\/li>\n<\/ul>\n<p>Companies supporting banks on their internal processes with very specific software solutions:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.fircosoft.com\/\">Fircosoft<\/a>, it&#8217;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.<\/li>\n<li><a href=\"http:\/\/www.niceactimize.com\/\">Actimize<\/a>: Detect, prevent, and investigate money laundering, fraud, and compliance violations with a holistic view of risk across your organization.<\/li>\n<\/ul>\n<p>Who&#8217;s next?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Google already arrived to the customer &#8220;as a Bank&#8221;, no as an &#8230; <a title=\"The reality of traditional banks\" class=\"read-more\" href=\"https:\/\/joapen.com\/blog\/2015\/08\/04\/the-reality-of-traditional-banks\/\" aria-label=\"Read more about The reality of traditional banks\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-2386","post","type-post","status-publish","format-standard","hentry","category-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The reality of traditional banks -<\/title>\n<meta name=\"description\" content=\"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 - joapen projects\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/joapen.com\/blog\/2015\/08\/04\/the-reality-of-traditional-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The reality of traditional banks -\" \/>\n<meta property=\"og:description\" content=\"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 - joapen projects\" \/>\n<meta property=\"og:url\" content=\"https:\/\/joapen.com\/blog\/2015\/08\/04\/the-reality-of-traditional-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"joapen projects\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-04T16:04:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-09-24T15:49:10+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/joapen.com\/blog\/wp-content\/uploads\/2015\/08\/GMoney.jpg\" \/>\n<meta name=\"author\" content=\"joapen\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"joapen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/\"},\"author\":{\"name\":\"joapen\",\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/#\\\/schema\\\/person\\\/23919df2312175fe9c4609203595b217\"},\"headline\":\"The reality of traditional banks\",\"datePublished\":\"2015-08-04T16:04:34+00:00\",\"dateModified\":\"2015-09-24T15:49:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/\"},\"wordCount\":256,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/#\\\/schema\\\/person\\\/23919df2312175fe9c4609203595b217\"},\"image\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/joapen.com\\\/blog\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/GMoney.jpg\",\"articleSection\":[\"Trends\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/\",\"url\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/\",\"name\":\"The reality of traditional banks -\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/joapen.com\\\/blog\\\/2015\\\/08\\\/04\\\/the-reality-of-traditional-banks\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/joapen.com\\\/blog\\\/wp-content\\\/uploads\\\/2015\\\/08\\\/GMoney.jpg\",\"datePublished\":\"2015-08-04T16:04:34+00:00\",\"dateModified\":\"2015-09-24T15:49:10+00:00\",\"description\":\"Some days ago I was writing about the challenges of the traditional banks. 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