cbsi May eNewsletter 2016

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May 2016: Issue 45

Tech 2016

The Intersection of Technology and Finance

The rise of FinTechs is real.

In 2015, according to a report by KPMG International, "global investment in FinTech companies totaled US$19.1 billion in 2015, with US$13.8 billion invested into VC-backed FinTech companies, a 106 percent jump compared to 2014, and a record year for VC-backed FinTech investment."

Banks are participating too, the report discusses. More banks are now viewing FinTechs as partners rather than adversaries.

Lofty financial expectations and multiple investors rounds does not guarantee success or deem some of the FinTech startups as legitimate. As with any emerging technology, a leveling affect will occur weeding out those companies that offer real solutions to those that offer very little.

However, the FinTechs are disrupting the Financial Industry landscape, creating attractive business models that solve real consumer and business issues.

This month, we examine some of the technology ideas that are driving FinTech interest and prompting banks to rethink their strategies.

Here's to bits and bytes.

cbsi

The CFPB and FinTechs

The growth of the CFPB and it's increased influence across the financial markets is now extending into FinTech startups.

Recently, digital payment company, Dwolla, agreed to pay a $100,000 penalty for alleged security issues. Dwolla neither admitted nor denied the allegations.

But the impact of the CFPB will likely continue to grow. In a recent move, the consumer watchdog organization and its Director, Robert Cordray, stated that FinTechs should be held to the same standards as depository institutions.

The CFPB, despite possible perceptions the the governmental agency may thwart technical progress does indeed believe FinTechs can play a significant role in the Financial Industry. Recently, the organization agreed that emerging technology can provide added value, in particular with regard to Payday lending.

To learn more about the CPFB, click HERE.

To read the cbsi CFPB Reports, click HERE.

cbsi Partner Spotlight: Sysomos

Technology is a big part of cbsi - and has been for a long time. With that, we recognize the power of social media and most important, the powerful voice of the customer through this new and exciting medium.

In this month's Partner Spotlight, we introduce you to Social Media Analytics company, Sysomos and what the company is doing to help organizations understand the impact of Social Media on consumers and businesses.

To learn more, click here.

cbsi Conversations

cbsi's Ken Kraetzer often conducts interviews with several leading business executives, entrepreneurs and industry thought-leaders.

On a bright spring day in New York City, he visited with Ryan Craver, CEO of children's apparel company, Trimfit Inc. part of the Lamour Group. The two discussed sales results so far this year and brands which are driving business to both traditional retail stores and to on-line shopping sites.

WATCH HERE

News You Can Use

No matter your interest, personal needs or Points of View on a "Hot Topic," we continually update our site to share articles that appeal to as many people as possible.

News from the CFPB and its relationships with the FinTechs are the latest news articles we've posted. But information on mobile payments and other interesting topics are available. Click HERE.

Conferences

cbsi continues to forge strong relationships with industry thought leaders especially while attending local and national conferences.

Recently, we attended the Card Forum in Los Angeles. Later this year, we will be joining the masses at Money 20/20.

You can't follow our employees at every conference where they continually post updates and information directly to our Twitter account: @cbsiservices.

To learn more, click HERE.