An analysis of reactions of banking, fintech and tech leaders to the re-election of Donald Trump, tends to focus on the potential impacts across various sectors including finance, climate policy, banking, technology, fintech, and cryptocurrency. Here's a breakdown by key subject areas:
Economy and Markets: Analysts predict that Trump’s policies will focus on expanding U.S. fiscal policy, reducing regulation, and promoting aggressive trade tactics. Daniel Casali of Evelyn Partners notes the likelihood of tax cuts, which could benefit equities and drive growth. However, others warn that this economic boost may come with long-term global consequences.
Climate Policy: The administration’s stance is expected to be less focused on climate initiatives, echoing Trump’s first term, which could stall global climate progress unless other nations take up the slack. Garry White of Charles Stanley anticipates fewer regulations on fossil fuels and a decrease in subsidies for green investments, prioritizing domestic economic growth over environmental goals.
Banking Sector: Trump’s deregulation agenda could create a "boom" for banking, according to Wells Fargo’s Mike Mayo. Reduced regulatory oversight could improve banks' profitability, especially for major players like Citi, as it may lower compliance costs, increase lending, and bolster investment banking revenues.
Technology Sector: Many major tech figures, including Peter Thiel, back Trump due to anticipated tax cuts. Trump's policies may continue to favor big tech, reducing corporate tax rates further to stimulate tech-driven growth, though concerns about fiscal deficits might moderate the extent of these cuts.
Fintech Industry: Trump’s administration may ease regulatory requirements, which could allow more neobanks and new players to enter the market, as highlighted by DECTA’s Scott Dawson. While this could increase competition, there are concerns it may attract low-quality entrants, leading to a “race to the bottom” in fintech standards.
Cryptocurrency: Trump’s presidency is viewed as highly favorable for cryptocurrency. His connections with influential tech figures, like Elon Musk and Peter Thiel, signal strong support for crypto, with bitcoin recently surging to a record high. Proponents, like Nigel Green from deVere Group, believe Trump’s backing could drive institutional investment and mainstream adoption of crypto. However, data from Zellix reveals that pro-crypto sentiment is also high in states voting Democrat.
In summary, Trump’s election brings expectations of economic expansion through tax cuts and deregulation, benefiting traditional finance, banking, and tech sectors. Yet, it may also increase volatility, environmental setbacks, and raise questions about fintech regulation and crypto investment pathways.
Training Courses & News in Banking, Fintech, Blockchain, Crypto, Financial Services and Technology.
Showing posts with label fintech. Show all posts
Showing posts with label fintech. Show all posts
Check out my latest Posts and Articles on LinkedIn and Substack
Check out all my latest POSTS on banking, fintech, payments, risk management, AI and more on my LinkedIn page HERE
The Promise of Generative AI May Be Further Off—and Less Visible—Than Many People Think
For the past year, generative AI has dominated discussions about how emerging technology stands to transform our lives, and the payments space has been a big part of the conversation. Though generative AI is a hot topic, the road to development is long. Along with the opportunities come notes of caution and warnings that this revolution may take a while.
Read the full story HERE.
Fast payments: design and adoption - BIS
The payments landscape is evolving rapidly, and fast payment systems (FPS) have emerged as a key innovation. Jurisdictions differ in their approach to designing FPS and in user adoption.
In this article the authors lay out the main design features of FPS that may foster adoption. Cross-country regressions suggest that adoption of fast payments is greater when the public sector plays an active role in the FPS. Other design factors important for adoption are non-bank participation, more use cases and more cross-border connections.
Read the full article HERE.
How Artificial Intelligence Is Reshaping Banking
Artificial intelligence is transforming the banking industry, with far-reaching implications for traditional banks and neobanks alike. This transition from classic, data-driven AI to advanced, generative AI provides increased efficiency and client engagement never seen before in the banking sector.
According to McKinsey’s 2023 banking report, generative AI could enhance productivity in the banking sector by up to 5% and reduce global expenditures by up to $300 billion. But that’s not even half of the picture.
Read the full story HERE.
The 50 Hottest FinTech Startups That Are Driving The Industry
Yet Forbes' new 2024 Fintech 50 list is packed with extraordinary entrepreneurs who have adapted and flourished in this environment. Three categories that primarily serve other businesses—Payments, Wall Street & Enterprise and Business to Business Banking–made the strongest showing, accounting for 27 of our 50 picks and seven of the 13 first-time honorees on this year’s list, Forbes ninth annual honor roll of the most innovative private businesses in fintech.
Forbes Senior Editor, Jeff Kauflin, and reporter Emily Mason sat down in studio to break down this year's list and highlight some of its newcomers and trends.
Share this post
AI,
fintech,
startups,
technology
Fintech's 50 Hottest Startups
Despite the industry’s funding woes, some startups–particularly those serving others business—are thriving. Here’s the Forbes Fintech 50 for 2024.
Get the details HERE.
Share this post
AI,
fintech,
startups,
technology
Startups Are Shutting Down!
Big startups are shutting down. More than 3000 private venture backed startups failed in the last year. Of the startups raising money, 19% were funded at a lower valuation than in prior funding rounds. 38% of VCs disappeared from dealmaking last year and more than a quarter of a million workers at tech companies lost their jobs over the same period. US corporate bankruptcy filings closed out 2023 with the most filings since 2010. The year has been described as a mass extinction event for startups in the press.
Stanley’s Musings - Fintech, Banking & Payments News #2
Thoughts on fintech, banking, payments, risk management, AI, going green, economics, business and much more…
The latest edition is now available - HERE
Check out my posts on STANLEY's MUSINGS
Check out my regular posts and articles on STANLEY's MUSINGS.Thoughts on fintech, banking, payments, risk management, AI, going green, economics, business and much more...
Regular posts on issues related to banking, fintech, blockchain,digital banking, payments, foreign exchange, technology, CBDC's and much more.
Never miss a new posting. Subscribe now on the site.
About SET Training
Since 2001 the Citadel Advantage Group (as Citadel Advantage Ltd. from 2001 to 2022 and as the Citadel Advantage Group since 2023) has been working with banks and financial institutions to make them safer and more profitable.
We specialize in guiding our clients through Governance, Risk Management, and Compliance (GRC) with a proven track record in consulting and training. Our focus extends to various core areas, including governance, compliance, operational risk management, payment and treasury systems, and operations/back office management.
Explore our wide array of professional courses and training programs that set us apart. As banking operations specialists, we provide a unique perspective derived from real operational managers with global experience. This invaluable viewpoint is often overlooked by other training organizations.
Our courses, training materials, and case studies maintain currency and topicality, reflecting real-world scenarios. We prioritize focused, practical training aimed at enhancing participants' application of learned concepts in their daily work environments.
Visit our Course Catalog page for details on currently available courses.
Our consultancy services cater to both commercial and central banks, focusing on key areas:
Our senior staff comprises skilled bankers with a comprehensive understanding of banking and bank operations at all levels, from strategic policy making to detailed daily operations.
Contact us to discuss how we can assist you. Find our contact information on our Contact page.
International GRC & Operations Consulting
Since our establishment in 2001, SET - Citadel Advantage Group has been dedicated to enhancing the safety and profitability of banks and financial institutions worldwide.Consulting and Training Excellence
We specialize in guiding our clients through Governance, Risk Management, and Compliance (GRC) with a proven track record in consulting and training. Our focus extends to various core areas, including governance, compliance, operational risk management, payment and treasury systems, and operations/back office management.
Professional Courses and Training
Explore our wide array of professional courses and training programs that set us apart. As banking operations specialists, we provide a unique perspective derived from real operational managers with global experience. This invaluable viewpoint is often overlooked by other training organizations.
Real-World Relevance
Our courses, training materials, and case studies maintain currency and topicality, reflecting real-world scenarios. We prioritize focused, practical training aimed at enhancing participants' application of learned concepts in their daily work environments.
Visit our Course Catalog page for details on currently available courses.
Comprehensive Consultancy Services
Our consultancy services cater to both commercial and central banks, focusing on key areas:
Operational Risk Management: Implement practical operational risk management systems, enhance business processes, and mitigate operational risks.
Payment Systems and Issues: Develop robust payments systems, manage liquidity, and optimize treasury management. We cover structured IT operations, operations procedures and controls, SWIFT, and clearing houses.
Operations/Back Office Management: Ensure optimal efficiency in managing cash flows, operations, and processes based on sound principles.
Securities Settlement Systems: Address the critical aspect of processing, clearing, and settling investment instruments within the financial system.
Experienced Leadership
Our senior staff comprises skilled bankers with a comprehensive understanding of banking and bank operations at all levels, from strategic policy making to detailed daily operations.
Contact us to discuss how we can assist you. Find our contact information on our Contact page.
Subscribe to:
Posts (Atom)
Popular Posts
-
The UK Government has published its National Payments Vision , an initiative spearheaded by the Chancellor to streamline and modernize the...
-
Introduction Whistleblowing is a critical process for uncovering unethical or illegal activities within organizations, governments, or cor...
-
An analysis of reactions of banking, fintech and tech leaders to the re-election of Donald Trump, tends to focus on the potential impacts ac...