How could technology enable sustainable banking, ESG giving rise to a new political divide, and are neobanks still seen as disruptors? – Detachable sheet

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Are neobanks still considered disruptors?

Freed from bricks and mortar and armed with sleek UX, next-gen technology, and venture capital-backed checks, neobanks were seen as the disruptors of traditional financial institutions. But what seemed obvious a few years ago is not so obvious today.

Given the second-quarter financial results of some publicly traded U.S. neobanks, bad press, and speculation that Marcus — Goldman Sachs’ digital bank — is in for a massive $4 billion loss, the banks neo-glow challengers fades. It seems we are witnessing the cautionary tale of the tortoise and the hare. And the big question that remains is whether they will weather the looming recession, let alone disrupt incumbents.

An interview with seasoned banking and fintech expert Darryl Knopp, senior director at FICO, put some things into perspective.

Read more

The Green Finance Podcast Ep. 8: How Technology Could Enable Sustainable Banking with Kalliopi Chioti, Chief ESG Officer at Temenos

In finance, the sustainability agenda is now condensed into three letters – ESG – which designate environmental, social and governance factors that can be incorporated into business decisions.

But the growing popularity of ESG investing in an unregulated market has also attracted quite a few bad apples, leaving investors overwhelmed by the growing number of options, many of which might not even be as “green” as their label suggests.

There is a growing demand for services that help banks and financial institutions distinguish between all these new labels that have grown in popularity almost overnight. And supply is responding – Temenos, one of the world’s largest banking infrastructure providers, has launched an ESG investment tool as a service for banks.

In episode 8 of the Green Finance podcast, host Iulia Ciutina explores this topic with Temenos ESG Director Kalliopi Chioti to learn more about the company’s approach.

Listen / read more

The last briefing

Green Finance Briefing: ESG at the origin of a new political divide

In the United States, the subject of ESG draws political battle lines between Democrats and Republicans. These three letters, an acronym little known to the general public not so long ago, are today at the center of a new political divide.

Those on the left believe that ESG is not really about sustainability, but about creating value for the company. Meanwhile, the right sees the ESG movement as investors trying to impose a social agenda that hurts corporate profitability.

Learn more (exclusive to Outlier members)

Just look at the charts

1. Digital banking is a money-losing business…unless it expands its product offering

Source: David Jimenez Maireles

2. Over 60% of Americans are concerned about their savings

Source: Deloitte

today’s stories

Affirm increases APY on savings accounts
Affirm announced that its savings accounts now offer an annual percentage return of 1.5%, noting that this is 11.5 times the national average. Affirm’s move follows other online banking providers increasing the APYs they offer on savings accounts. (PYMNTES)

Alloy Leans on Fraud Prevention to Achieve New $1.55 Billion Valuation
Identity verification fintech Alloy has raised $52 million at a valuation of $1.55 billion, 11 months after raising $100 million at a valuation of $1.35 billion. The fact that the startup managed to raise this amount of capital in such a difficult fundraising environment is impressive, but the fact that it also increased its valuation is also remarkable. (Tech Crunch)

Digital Asset records strong performance in Q2’22
Blockchain firm Digital Asset reported another strong quarter of growth in the second quarter of 2022. The company reported a significant increase in year-over-year customer growth, with the number of new customers tripling from the second quarter of 2021. These new customer relationships are driven almost entirely by growing interest in asset tokenization. (Crowdfunding Insider)

Jack Henry partners with Google Cloud
Jack Henry, a leading provider of technology solutions for the financial services industry, announced a collaboration with Google Cloud to strengthen its multi-year technology strategy to help financial institutions innovate faster and meet the changing needs of their customers. account holders. (Finextra)

Former ACI Worldwide banking unit debuts as fintech company Dragonfly
Digital banking and cash management company Dragonfly Financial Technologies was launched as an independent company following the completion of One Equity Partners’ acquisition of ACI Worldwide’s corporate online banking unit. Dragonfly will add innovations to its product portfolio, expand its team, and target more US and international commercial banking customers. (PYMNTES)


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