471. News: Klarna face backlash & Killer Mike launches a bank to support black businesses

Our expert hosts, Sam Maule and Kate Moody, 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: Alice Tapper, Founder and Author - Go Fund Yourself Gwera Kiwana, Ops Analyst - 11:FS We cover the following stories from the fintech and financial services space: Killer Mike’s new Black owned bank receives ‘tens of thousands’ of account requests in less than 24 hours (03:54) Klarna’s email that prompted data privacy and security backlash (17:00) Former Barclays execs to launch digital bank (29:11) Square invests $50m in bitcoin (37:00) Soundbite Simon Taylor, 11:FS Head of Ventures (37:55) FCA turns the screws on compliance in work-from-home environment (44:06) Coronavirus can survive up to 28 days on paper banknotes (55:37) This podcast is brought to you by Jack Henry Digital the pioneer and creator of personal digital banking that helps community financial institutions strategically differentiate their digital offerings from those of MegaBanks, BigTechs and FinTechs. _ This podcast is also 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. The banking business model is broken. The question is, how can we rebuild it? Embedded finance presents a massive opportunity for banks to play a new role in the financial services ecosystem, offering more revenue streams, lower costs and higher margins. Our new report, Better banking business models: embedded finance and the path to growth, is a must-read for banks considering the smartest next step. Head to bit.ly/bankingasaservice to download the report for free. 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 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: Alice Tapper and Gwera Kiwana. Links: Killer Mike’s new Black owned bank receives ‘tens of thousands’ of account requests in less than 24 hours Klarna’s email that prompted data privacy and security backlash Former Barclays execs to launch digital bank Square invests $50m in bitcoin FCA turns the screws on compliance in work-from-home environment Garanti BBVA ships ‘blank’ card with no code imprints Coronavirus can survive up to 28 days on paper banknotes Learn more about your ad choices. Visit megaphone.fm/adchoices