BNY Mellon: Fintech has great opportunities for banks!
As per a report "Innovation in Payments: The Future is Fintech" by BNY Mellon venture capital investment, accelerator programs and an active focus on the usage of new technologies via allegiances with fintech companies should become the top priorities for banks. This, the report, says is extremely important as the multiplicity of new payment capabilities come to the fore. The report follows on from "Global Payments 2020: Transformation and Convergence" and digs deeper into the growing influence of fintech in transaction banking. Moving further the report also tries to dissect the direct....
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Blockchain technology could potentially transform payments, says a new report by American multinational banking corporation BNY Mellon. Although the report - titled "Innovation in Payments: The Future is FinTech" - notes that bitcoin may not survive in the long-term, the blockchain, it says, could help to reduce risk, transaction costs and improve speed, efficiency and transparency in the realm of payments. The report goes on to assert that this process does not come without a set of challenges: "Indeed, blockchain technology presents a number of challenges that have yet to be resolved,....
Yeah, yeah, the BNY Mellon entered the crypto custody business. The real story here is Custodia Bank’s Caitlin Long’s emotional speech at DC Fintech Week. The bitcoin enthusiast banker left the rest of the panel speechless by accusing the Federal Reserve of giving preferential treatment to BNY Mellon. “We’ve been waiting for two and a […]
The Bank of New York Mellon Corporation (BNY Mellon), the oldest and one of the largest banks in the United States, has disclosed its investments in Bitcoin Exchange Traded Funds (ETFs). According to its recent Securities and Exchange Commission (SEC) filings, BNY Mellon has acquired stakes in spot BTC ETFs managed by BlackRock and Grayscale. […]
The New York-based multinational banking and financial services firm Bank of New York Mellon Corporation is experimenting with the potentially disruptive digital currency Bitcoin. The banking giant's dive into the Bitcoin technology comes closely after the Swiss banking major UBS announced that it will open a research lab in London to study the blockchain technology. BNY Mellon's Chief Information Officer Suresh Kumar told CIO Journal that, "We want to try it out to see the applicability of [Bitcoin] in our businesses." It is only apt that the leading banks enter this domain since Bitcoin,....
The number of banks experimenting with blockchain technology and looking at their own digital currencies is growing by leaps and bounds, so it’s no surprise that Deutsche Bank is well on its way to having its own blockchain technology. In a recent statement, the bank was quoted as saying: “Banks must partner with fintech and digital currency businesses or risk disappearing altogether.” Although Deutsche Bank is a member of the R3CEV consortium of 42 banks that is developing a protocol for blockchain technology for the banking sector, the bank has been quietly running its own blockchain....