425. News: RBS close Bó - Why is building a new bank so hard?

Our expert hosts, Simon Taylor and Sarah Kocianski, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week. This week's guests include: Bailey Kursar - CEO and founder of Toucan James Butland - VP of Global Banking at Airwallex Matt Sattler - Head of Data and Innovation Labs at HSBC We cover the following stories from the fintech and financial services space: RBS closes their digital challenger, Bó (02:41) Banks to book more than $50bn against bad loans (17:59) Robinhood raises $280M in Series F funding, pushing its valuation to $8.3B (32:29) Visa and Safaricom partner on M-Pesa (42:19). To find out more, we also hear from Otto Williams, Vice President and Head of Strategic Partnerships, Fintechs and Ventures for Visa in CEMEA. Louisiana cops search for 'aggressive chicken' breaking social distancing & terrorizing bank patrons (53:15) The stories we didn't have time to cover are: Tencent buys stake in AfterPay (50:44) Revolut launches licenced bank in Lithuania (51:30) SCA Deadline extended by 6 months (51:53) COVID-19 is impacting consumer payment preferences (52:29) This podcast is brought to you by Mitek (NASDAQ: MITK). Mitek is a global leader in mobile capture and digital identity verification solutions built on the latest advancements in computer vision, artificial intelligence and machine learning. Mitek’s identity verification solutions enable an enterprise to verify a user’s identity during a digital transaction, which assists businesses operating in highly regulated markets to reduce financial risk and meet regulatory requirements while increasing revenue from digital channels. Financial services, marketplaces and other organizations around the world use Mitek to reduce friction creating the digital experiences their customers expect. Mobile Deposit® and Mobile Verify® are used by millions of consumers for check deposit, new account opening and more. The company is based in San Diego with offices in New York, London, Amsterdam, Barcelona, Paris and St Petersburg. Learn more at www.miteksystems.com. This podcast is also brought to you by Equinix. Equinix is the world's largest data center & colocation provider, enabling fastest application performance, lowest latency and a digital ecosystem for financial services. Its platform of 200+ data centres worldwide protects, connects and empowers the mission-critical infrastructure for over 10,000 businesses. The COVID-19 pandemic has created an immediate financial and operational crisis, permanently reshaping the financial services industry. This change must be swift and unavoidable - check out our research report to find out more: info.11fs.com/covid19 Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking. If you enjoyed this episode, don't forget to subscribe and please leave a review Follow us on Twitter: www.twitter.com/fintechinsiders where you can ask the hosts questions, alternatively email [email protected]!Special Guests: Bailey Kursar, James Butland, Matt Sattler, and Otto Williams.Sponsored By:Links:RBS closes their digital challenger, Bo Banks to book more than $50bn against bad loansRobinhood raises $280M in Series F funding, pushing its valuation to $8.3B Visa and Safaricom partner on M-PesaLouisiana cops search for 'aggressive chicken' breaking social distancing & terrorizing bank patronsTencent buys stake in AfterPaySCA Deadline extended by 6 monthsCOVID-19 is impacting consumer payment preferences Revolut launches licenced bank in Lithuania