Welcome to the ABA Banking Journal newsletter, a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news.
You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.
Industry News
The next great Silicon Valley disruption is FinTech — tech companies that are changing the way we interact with our money. That could include mobile payment platforms like Apple Pay and Android Pay or apps like Level, which helps track spending. Now, FinTech is starting to move in on a prized area: lending. (Marketplace)
Visit http://www.marketplace.org/2015/12/11/world/tech-meets-finance-and-gives-banks-scare to view the full article online.
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Several major companies across the technology and financial industries — including IBM, Intel and Cisco as well as the London Stock Exchange Group and big-name banks JP Morgan, Wells Fargo and State Street — have joined forces to create an alternative to the blockchain, the global online ledger that underpins the bitcoin digital currency. Overseen by the Linux Foundation, this open source project aims to bring a new level of automation and transparency to a wide range of services in the business world. (Wired)
Visit http://www.wired.com/2015/12/big-tech-joins-big-banks-to-create-alternative-to-bitcoins-blockchain to view the full article online.
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Ask American bankers the underlying principles of their work and you will hear common themes: stimulating the economy, creating jobs, helping people succeed. Ask bankers in Kenya, Jordan or Albania, and you’ll hear the same thing — but their financial environment is starkly different than that of the United States. The Financial Services Volunteer Corps has a mission to help those countries create and sustain stable financial frameworks and practices. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2015/12/a-peer-to-peer-banking-investment/ to view the full article online.
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With the zeal and thoroughness that the EMV transition has been discussed and covered over the past six months or so, you’d think it was the only technological innovation hitting payment cards in the marketplace. In fact, there’s another facet of card modernization slated to take a significant step forward to improve consumers’ purchase experiences: contactless cards. (Payments Source)
Visit http://www.paymentssource.com/news/paythink/do-not-count-out-contactless-cards-just-yet-3023024-1.html to view the full article online.
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The trailers for "Star Wars: The Force Awakens," have featured plenty of stormtroopers, TIE fighters, and evil-looking guys who are the apparent heirs to the Evil Galactic Empire from the original trilogy. But the last we saw, the Dark Side was vanquished. Now, in a tongue-in-cheek white paper released earlier this month, an economics professor is making the case that the destruction of the Death Star unleashed an economic collapse and financial crisis that overwhelmed the Rebel forces in a way the Empire itself could not. (Wall Street Journal)
Visit http://blogs.wsj.com/moneybeat/2015/12/17/in-new-star-wars-empire-strikes-back-because-the-rebels-stink-at-finance/ to view the full article online.
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Training
January 24-27
Naples, FL
Feb 14-17
Palm Desert, CA
Feb 28-Mar 1
Phoenix, AZ
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