Link: Ride-hailing app Grab partners Maybank for mobile wallet launch

To be a little Friedman in a taxi here: when I was in Jakarta, you could see the huge banking expansion available in converting much of the country to cashless. All these merchants and buyers (people, if you will) who are purely cash based and don’t have bank accounts. And that’s just one (albeit it, giant) city:

Ooi Huey Tyng, MD, GrabPay Singapore, Malaysia and Philippines, says: “The whole industry needs to come together to make the cashless economy a reality in Malaysia. We are honoured to partner with Maybank which not only shares our vision of a cashless payments future, but also recognises Grab as ideally poised to help make this a reality.

“With GrabPay mobile wallet as the leading payment method on our Grab app, it will build an interconnected ecosystem of our services, thus making Grab an everyday app to complement consumers’ everyday lifestyle.”

Also, I love this “cashless” term. So much better than “mobile payments.”
Original source: Ride-hailing app Grab partners Maybank for mobile wallet launch

Link: Ride-hailing app Grab partners Maybank for mobile wallet launch

To be a little Friedman in a taxi here: when I was in Jakarta, you could see the huge banking expansion available in converting much of the country to cashless. All these merchants and buyers (people, if you will) who are purely cash based and don’t have bank accounts. And that’s just one (albeit it, giant) city:

Ooi Huey Tyng, MD, GrabPay Singapore, Malaysia and Philippines, says: “The whole industry needs to come together to make the cashless economy a reality in Malaysia. We are honoured to partner with Maybank which not only shares our vision of a cashless payments future, but also recognises Grab as ideally poised to help make this a reality.

“With GrabPay mobile wallet as the leading payment method on our Grab app, it will build an interconnected ecosystem of our services, thus making Grab an everyday app to complement consumers’ everyday lifestyle.”

Also, I love this “cashless” term. So much better than “mobile payments.”
Original source: Ride-hailing app Grab partners Maybank for mobile wallet launch

Link: The Sorry State of Digital Transformation in 2018

Organizations talk a lot about transformation, but their actions don’t always back it up:

“To find out the state of digital transformation, we surveyed 1,600 business and IT decision-makers in North American and European enterprises. The answer? Sorry, I’m afraid. As you can see from the picture below, 21% of firms think their transformation is dusted and done. Really? Done? And another 22% are investigating or not transforming at all. And while 56% of firms are transforming, their level of investment and scope of transformation are still mostly small. For example, only 34% of banks and insurers are even bothering to transform marketing and only 45% are transforming customer care — a too-small percentage given consumers’ of mass adoption of mobile devices.

“Why? As one respondent put it, “It’s a war between old-school technophobe leaders and the technology innovation that represents a completely different way of doing business.”
Original source: The Sorry State of Digital Transformation in 2018

Link: Fintech Has Grown Up

“Fintech has lost its direct-to-consumer ambition. Previous editions of Finovate have seen presentations by now established brands like Fidor Bank, eToro, Kabbage, rPlan, and Scalable Capital. Most of these startups have since shifted their business model from just direct to customers – consumers or businesses – to some form of B2B2C, working with incumbents as their distribution partners. That’s because despite all the claims about incumbents neglecting their customers’ needs, customer acquisition in financial services remains hard and expensive.”
Original source: Fintech Has Grown Up

Link: Fintech Has Grown Up

“Fintech has lost its direct-to-consumer ambition. Previous editions of Finovate have seen presentations by now established brands like Fidor Bank, eToro, Kabbage, rPlan, and Scalable Capital. Most of these startups have since shifted their business model from just direct to customers – consumers or businesses – to some form of B2B2C, working with incumbents as their distribution partners. That’s because despite all the claims about incumbents neglecting their customers’ needs, customer acquisition in financial services remains hard and expensive.”
Original source: Fintech Has Grown Up

Link: API’s and Mainframes

“When looking at exploiting them from the web, if you let “imagineers” run away with what they “might” want, you’ll fail. You have to start with exposing the transaction and database as a set of core services based on the first application that will use them. Define your API structure to allow for growth and further exploitation. That’s what we successfully did for NatWest. The project rolled out on the internal IP network, and a year later, to the public via the Internet.” Original source: API’s and Mainframes