/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.

Sehrish Alikhan

What Gen Z want from UK fintech

Sehrish Alikhan - Reporter, Finextra
Discussion
Klarna labels CFPB BNPL rule 'baffling'
Hitesh Thakkar

Hitesh Thakkar

  CFPB is viewing BNPL as product purchase on EMI linked to Credit Card so what's wrong in it? 
Klarna labels CFPB BNPL rule 'baffling'
Conny Dorrestijn

Conny Dorrestijn

  Dear Klarna - if those 'differences are so fundamental' why not clarify this clearly in your statement?
Synapse fallout leaves Copper customers unable to access funds
Ketharaman Swaminathan

Ketharaman Swaminathan

  Any Fintech Mafia Carousel Shill member who tells you that your money is safe in an uninsured Neobank because it puts your money in an insured Sponsor Bank is either clueless, or lying, or both: As the Synapse - Evolve fracas in USA is adequate testimony, if neobank fails, insurance does not pay and there's no guarantee that the sponsor bank will recognize you if you approach it directly. Even if bank goes bust, whether you get your money back or not from insurance depends on how the neobank has ledgered its FBO account with the bank. Either you can learn all about FBO and bankruptcy proceedings or you can put your money in an insured bank directly. The choice is yours.
CFPB rules that BNPL lenders should be treated as credit cards
Ketharaman Swaminathan

Ketharaman Swaminathan

  If credit card has chargeback / fraud protection at 2-3% MDR, it makes sense to extend similar benefits for BNPL at 3-6% MDR. However, if BNPL must have the same FICO score / creditworthiness bar as credit card, that'd drastically undermine its basic positioning as sorta ultra subprime loan and TAM therefrom. 
Níamh Curran

What’s happening at Temenos?

Níamh Curran - Senior Reporter - Finextra