Behavioral Biometrics Cybersecurity Startup Callsign (video)

Tech Talk: interview with Daniel Grimes, Callsign

Daniel Grimes, vice-president, commercial strategy¸ at Callsign (domain: callsign.com), a behavioral biometrics cybersecurity startup, talks to Joy Macknight about using biometrics for intelligence-driven authentication and why such a solution is of interest to banks such as Lloyds Banking Group and Deutsche Bank. "Callsign: Friction-free Identification and Authentication." TheBanker.com video above first published June 13, 2018.

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MacroView: Kyle Bass Says China Will Be Forced to Recap Banks (video)

Is Xi Jinping, the President of China, the world's most powerful man?

The Economist (economist.com) published the above video on Oct 17, 2017: Is Xi Jinping the world's most powerful man? The world's balance of power is shifting. For the past five years president Xi Jinping, China's leader, has ruled with an iron fist and has been pursing a new model of great power relations. But his power may be fragile, watch the video and find out why.

Kyle Bass Says China Will Be Forced to Recap Banks

Bloomberg.com video above published Oct 17, 2017:  Kyle Bass, founder and chief investment officer at Hayman Capital Management (domain: HaymanCapital.com), discusses the Chinese banking system in an interview with Bloomberg's Erik Schatzker taped on Oct. 6, 2017.

US Markets Oct 17, 2017:

Dow touches 23,000 for the first time, closes at record https://t.co/M6mMzpugks pic.twitter.com/2hArVHq33Z

— CNBC (@CNBC) October 17, 2017

#BREAKING Dow tops 23,000 for the first time but closes just shy of the milestone https://t.co/dJxUQFdLQe

— USA TODAY (@USATODAY) October 17, 2017

Tweets by Jkylebass
See also:

• Kyle Bass Says ICO Investors Will Get Wiped Out in Crypto ‘Mania’ | Bloomberg.com
• Kyle Bass: China's $40 Trillion Banking System Has "Largest Imbalances I've Ever Seen" | ZeroHedge.com
• This Hedge Fund Investor Says China Bears Are Missing Something | Bloomberg.com: "Bass’s flagship Hayman Capital master fund returned almost 25 percent last year on bets placed across global rates, currencies and commodities, Bloomberg reported in January. “Look, Kyle’s really smart, and Kyle could be right,” Yusko said. “But we’re just going to disagree on this right now.”"

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Ex-Goldman Sachs Tech Exec Paul Walker Joins OpenFin Board

OpenFin: A Secure HTML5 Container for finance

Video above published Dec 8, 2015: OpenFin is the Leading Provider of HTML5 Container Technology for the Global Financial Industry. Built on Google Chromium and tailored for financial firms, OpenFin is a powerful HTML5 engine that enables seamless desktop deployment, native experience and application interoperability. The world’s largest financial institutions and trading platforms use OpenFin’s patented technology to deploy applications both in-house and to over 250 buy-side and 40 sell-side customers.

OpenFin-- "A Common Operating Layer for Financial Desktop Apps"--OpenFin software allows banks and hedge funds to create and upgrade trading applications quickly. OpenFin is used by 40 of the world's largest banks and trading platforms, currently powering applications on 125,000 desktops. The company has raised $22 million in capital, including a $15 million venture capital second round in February, led JPMorgan, Bain Capital Ventures and Euclid Opportunities. See also Ex-Goldman Sachs tech executive Walker joins OpenFin board | Reuters.com: "What got me excited about OpenFin is how they're making technology work across our industry to increase security and speed."--Paul Walker

Domain: OpenFin.co

@openfintech
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SWIFT GPI Initiative: How Secure Is the Swift Network? (videos)

How Secure Is the Swift Network?

Video above published May 1, 2017, by WSJ.com: A series of recent cyberattacks targeting banks raises questions about the security of Swift, the global messaging network that is the backbone of payment services for more than 11,000 institutions worldwide, including banks and corporations.

Domain: swift.com

The Future of Cross-border Payments - SWIFT gpi

Video above published Sep 26, 2016: Banks around the world are working with SWIFT to deliver the global payments innovation (gpi) initiative and create the next era for correspondent banking. More info: http://www.swift.com/gpi

Tweets by swiftcommunity

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Citadel CEO Ken Griffin on Hedge Funds, Competition, Transparency

Citadel CEO Ken Griffin on Hedge Funds, Financial Regulation

Video above published May 1, 2017: Ken Griffin, Citadel's chief executive officer, discusses the state of the hedge fund industry, competition, transparency and financial regulation with Bloomberg's Erik Schatzker at the Milken Institute Global Conference.

"... [H]arder to create Alpha today, more competition … markets more efficient (news, data, information reflected almost immediately in market pricing) which reduces Alpha available … what works? … having deep expertise in the area(s) you are investing … deep specialization drives returns … transparency creates confidence that one has been treated fairly, transparency is the underpinning of a healthy capital market … in a market that is opaque, incumbents enjoy the information advantage of that opacity but that doesn’t make a good market …”--Ken Griffin

Domains: Citadel.com and CitadelSecurities.com

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Giant IPO Snap Inc. $SNAP Ready For Takeoff? (videos)

Snap Said to Price Shares in IPO at $17 Each

Video above published Mar 1, 2017: Snap priced the shares in its initial public offering at $17 each, above the marketed range, according to a person with knowledge of the matter. Bloomberg's Caroline Hyde reports on "What'd You Miss?"

Why Banks Salivate Over Giant IPOs Like Snap’s

Video above published Feb 28, 2017: Bloomberg’s Erik Schatzker discusses why giant IPOs are not good business for Wall Street and whether Snap’s will live up to the hype. He speaks on “Bloomberg Markets.”

Does Snap Have the Right Stuff for a Successful IPO?

Video above published Feb 28, 2017: On “Bloomberg Technology,” Alex Barinka examines Snap’s unique shareholder structure that may raise questions for investors in the long run.

"it appears investors’ greed is overcoming fear." https://t.co/Htqr9pHgIJ traders NOT investors IMO

— Ira Michael Blonder (@mikethebbop) March 1, 2017

See also: The Pundits Are Wrong: Snap Is A Buy - Snap Inc. (Pending:SNAP) | SeekingAlpha.com
Tweets about $SNAP

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Banks, Technology, Financial Services, Fintech & Digital (video)

Digital IQ Index® - Financial Services:

Since the introduction of the ATM in 1969, banks have leveraged technology to reduce cost and the friction between financial services and the end consumer.

In 2015, “FinTech” startups took in $19 billion in investment capital, extending the scope of the sector beyond payment platforms to include new lending tools, personalized investment services, and wealth management solutions.

Jaded by the financial crisis, 51 percent of millennials demonstrate a willingness to experiment with non-traditional providers, underscoring a potential threat to the status quo.

Traditional Financial Service providers are following suit with their own investments in the FinTech arena, but have been slow out of the gate.

Only half of Index brands support “Get a Quote” or “Find an Advisor” tools, putting the onus on prospective consumers to initiate next steps.

And while almost all Index brands engage customers on LinkedIn, 16 percent of brands do not maintain an active presence on Facebook.

Bank of America sets the gold standard in L2's inaugural Digital IQ Index®: Financial Services. The “genius” brand proves unique in leveraging SEO and SEM investments to ensure elevated visibility across top-of-the-funnel keywords, and investments ahead of the curve to provide a best-in-class experience on a smaller screen.

In addition, Bank of America integrates past campaigns—including "Better Money Habits" and "Business of Life"—into emerging platforms ignored by most peers, engaging Millennials where they live.

This study attempts to quantify the digital competence of 70 financial service brands operating in the US market. Members can download the full report at L2inc.com. Download the report here. Video above published Nov 17, 2016, by L2inc.com.


Source of infographic: Statista - overview of the current state of the global fintech market (Jan. 7, 2016).

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America's Big Banks Connecting With Money Transfer App Zelle (video)

America's Big Banks Will Connect With Zelle | Tech Bet | CNBC.com:

Banks have announced Zelle as their product in the payment-transfer space. Zelle would be a direct competitor to Venmo, owned by PayPal, and includes features such as instant clearing of money from one bank account to another (video above published Oct 24, 2016)

Domains referenced:

• zellepay.com
• venmo.com

Auto-generated Transcript via YouTube.com:
0:00  America's biggest banks will be
0:01  connected through a new money transfer
0:03  app called Zelle will compete against
0:06  quite a few transfer apps that are
0:07  already in the market for joining us to
0:09  break all this down as Mark spoon our
0:11  editor-in-chief at tom's guide mark
0:12  thanks for joining us today thank you
0:14  let's talk about this app what is l how
0:16  many banks will connect with it or use
0:18  it and how does it work
0:20  sure so just imagine being able to send
0:22  your friends money for rent or for pizza
0:25  or for anything else as a direct deposit
0:27  right into their account using an app
0:30  and that's the idea behind shell they're
0:31  like you said there's a lot of
0:32  competitors out there but they have a
0:34  couple of advantages one is that they
0:36  have a lot of the major banks most of
0:38  them five of them including citi and
0:40  wells fargo and the there's not going to
0:43  be any transaction fee as part of this
0:46  instant deposit which is another feather
0:48  in their cap and I'm glad you brought up
0:50  some the competitors here venmo for
0:51  example which is owned by paypal I mean
0:53  there's already a verb out there i have
0:55  many friends who say that their venom
0:57  owing money from dinner for example
0:59  that's right so so I get why the big
1:01  banks want to have their own specific
1:03  service but how's it going to compete
1:04  against all of these other types of apps
1:06  are already out there
1:07  yeah i mean so you're right venmo has a
1:09  huge head start and depending on what
1:10  numbers you look at they could have
1:12  upwards of a million people that are
1:14  using it for a month already
1:15  and in the first quarter of a 2016 that
1:18  had 3.2 billion dollars and money
1:21  transacted among their users and that's
1:22  over a hundred percent increase from the
1:24  following year
1:25  what cell brings to the table is unlike
1:27  some competitors there isn't that
1:29  transfer fee for making an instant
1:31  deposit into someone else's account and
1:33  it truly is instant sometimes with venmo
1:35  and others it can take up to a couple of
1:37  days so that instant gratification
1:38  especially among Millennials is really
1:40  important because you want to make sure
1:41  that money is still there when taking
1:43  that transaction so and also obviously
1:47  but the support of the banks is is
1:48  really good for them but i also think
1:49  that Millennials could look at them with
1:51  a little bit of distrust because it is
1:53  run by the big banks as opposed to a
1:55  third party like paypal and in light of
1:57  all this and as especially this idea
1:59  that it's near instant clearing of the
2:01  money which to me would be key
2:03  yeah do you think she'll could actually
2:05  beat some of these rivals it could mean
2:08  I think a lot of it will depend on
2:09  marketing but at the same time you have
2:12  Zelle whose
2:13  they're stepping up their game and keep
2:15  in mind you know soon so the memo has
2:17  been out for awhile and they're adding
2:19  other features to their app like the
2:21  ability to use the your account when
2:24  you're making payments online and
2:25  through apps like they're working with
2:27  mantri right now for food delivery and
2:30  game time for a game tickets so in a way
2:32  they're trying to become more like Apple
2:33  pay and with shell not coming out until
2:35  2017 they're going to have to innovate
2:38  behind the scenes to make sure that
2:39  they're at parity with their rivals when
2:41  they finally come to market that's a
2:43  good point marks Punar thanks for
2:44  joining us thank you for watching I
2:46  Morgan Brennan have a great day
  
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Deutsche Bank $DB $DBK In Serious Trouble, Woes in 5 Charts (videos)

Deutsche Banks woes in 5 charts:

Deutsche Bank is in serious trouble, with some hedge funds pulling business and the US Department of Justice seeking $14 billion to settle its probe on mortgage securities. Why are people so worried about the bank’s fate? FT.com's Martin Arnold explains in five charts. Published Sep 30, 2016

What Do Deutsche Bank Clients, Investors Fear?

As Deutsche Bank shares fell to a record low last week, concerns grew about the bank's mounting legal costs. Bloomberg's Michael Moore examines the bank's challenges on "Bloomberg Surveillance" September 30, 2016.

See also: Crisis of Globalization Lies Behind Deutsche Bank’s Troubles | WSJ.com: "Investors doubt the bank can earn an economic return on its equity ..."

Domain: db.com
Stock exchange: symbol | FWB:DBK | NYSE: DB

Talks between Deutsche Bank, DOJ continue but details in flux; no deal yet presented to senior decision makers on either side - Dow Jones

— CNBC (@CNBC) October 2, 2016

The money has run out-Germany can't afford to bailout Deutsche Bank.Nothing to do with billions spent on immigrants https://t.co/wGzr6qsNcL

— David Jones (@DavidJo52951945) October 1, 2016

.@FT - @DeutscheBank fueling transatlantic tensions:“German politicians have accused the US of waging economic war” https://t.co/CkCd2qh2X2

— Mohamed A. El-Erian (@elerianm) October 2, 2016

Opinion: Deutsche Bank reflects shattered ambition https://t.co/15iLSOL72U

— Financial Times (@FinancialTimes) October 2, 2016

Tweets about $DBK OR $DB

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Italy's Banks in Crisis, Final Nail in the Coffin for the EU and Euro? (videos)

Will Italy's Bank Crisis Be the Final Nail in the Coffin for the EU?

University of Chicago Booth School of Business Professor Luigi Zingales and Bank of America Merrill Lynch Head of Global Rates Research David Woo discuss the plight of European banks and the future of the European Union. They speak on "Bloomberg Surveillance." Video above published August 8, 2016.

Joseph Stiglitz - The Euro: How a Common Currency Threatens the Future of Europe:

Video above published July 27, 2016: Peter Goodman of the New York Times interviews Joseph E. Stiglitz, Columbia University professor and economist, author of The Euro: How a Common Currency Threatens the Future of Europe. Interview transcript (pdf)

See also:

• Joseph Stiglitz interview: Italy and the end of the euro - BusinessInsider.com: August 22, 2016
• Italy will CRASH the eurozone if nation can’t take on more debt | City & Business | Finance | Daily Express | express.co.uk: August 22, 2016
• Why this Italian bank could be the next Brexit | interactive investor | iii.co.uk: 23rd August 2016 - Banca Monte dei Pascha di Siena
• Italian Banks Continue to Lend to Stagnant Companies as Debt Pile Mounts | NYTimes.com
• Will Italy's banking crisis spark eurozone chaos? | Daily Express | express.co.uk August 3, 2016: "Banks in Italy have issued €360billion (£300billion) of non-performing or bad loans. In total this makes up more than 18 per cent of the country's lending, a huge amount compared to Britain whose bad loans make up 1.5 per cent of total loans. Intesa Sanpaolo and UniCredit have been among the worst hit banks, with shares in UniCredit suspended as the crisis grows."
• The Future of Europe by Josef Stiglitz - YouTube: Public Lecture by Prof. Josef E. Stiglitz The Future of Europe Monday, January 27, 2014.

Tweets about Italy AND banks lang:en

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Billion-Dollar Startup TransferWise Has Ancient Business Model (video)

This Billion-Dollar Startup Has an Ancient Business Model:

TransferWise, the London (UK) unicorn, is the foreign exchange startup that predicts it'll put banks out of business. It's a newly-minted unicorn thanks to a billion-dollar valuation, but it's not without its critics. So how does it work? And just how innovative is it, really? Video above published June 13, 2016 by Bloomberg.com.

Domain name: transferwise.com

See also on Domain Mondo: FinTech Startup TransferWise, Peer-to-Peer Money Transfer (video) (Jan 26, 2016)

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Europe's 'Banking Depression' (video); Sohn Conference New York May 4

Carl Weinberg: Europe's Stuck in a 'Banking Depression:'

Video above: Europe in a 8-year "banking depression" says Carl Weinberg, chief economist at High Frequency Economics [hifreqecon.com]. He and Jeff Degraaf, chairman at Renaissance Macro [renmac.com], examine the European economy and the need for fiscal stimulus as the banking industry faces an eighth straight year of crisis. They speak on "Bloomberg Surveillance," May 2, 2016.

********

CNBC Sneak Peek | 2016 Sohn New York Investment Conference:

Evan Sohn discusses the upcoming May 4th New York Sohn Investment Conference. Joining him in the CNBC studio is 2015 Sohn Investment Idea Contest winner, Angelo Martorell. Published April 21, 2016.

Sohn Investment Conference | SOHN May 4, 2016 David Geffen Hall, Lincoln Center 10 Lincoln Center Plaza New York City: Since 1995, the world-renowned Sohn Investment Conference, held annually in New York, has been the premier investment event, bringing the world’s savviest investors together to share fresh insights and money-making ideas to benefit the Sohn Conference Foundation’s work to end childhood cancer.

AGENDA:
12:00 Opening Remarks: Doug Hirsch, Co-Chair, Sohn Conference Foundation
12:05 Larry Robbins, Founder, Portfolio Manager and CEO, Glenview Capital Management LLC
12:25 Carson Block, Chief Investment Officer, Muddy Waters Capital LLC
12:45 John Khoury, Founder and Managing Partner, Long Pond Capital, LP
1:05 Chamath Palihapitiya, Founder and CEO, Social Capital LP

1:25 Intermission
1:55 Jeffrey Smith, Managing Member, Chief Executive Officer, and Chief Investment Officer, Starboard Value LP
2:15 Richard Deitz, Founder, President and Fund Manager, VR Capital Group Ltd.
2:35 Stanley Druckenmiller, Chairman and Chief Executive Officer, Duquesne Family Office LLC
2:55 Eli Manning, Sohn-Manning Pediatric Cancer Survivorship Program at Hackensack University Medical Center
3:10 Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP

3:30 Intermission
4:00 Zachary Schreiber, Chairman, Chief Executive Officer and Chief Investment Officer, PointState Capital LP
4:20 Sohn Idea Contest Winner
4:35 Adam Fisher, Co-Founder and Chief Investment Officer, Commonwealth Opportunity Capital GP LLC
4:55 Dan Ariely, James B. Duke Professor of Psychology & Behavioral Economics, Duke University
5:15 David Einhorn, President, Greenlight Capital, Inc.
5:35 James Chanos, Founder and Managing Partner, Kynikos Associates LP
5:55 Closing Remarks: Dan Nir, Co-Chair, Sohn Conference Foundation

Tweets about Sohn Conference
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See also reporting via thereformedbroker.com, valuewalk.com and WSJ.com

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U.S. Federal Reserve to U.S. and Global Markets: We Have Actual Liftoff!

Space Launch Complex 40 on Cape Canaveral,  Florida, illuminated by a Falcon 9 rocket as it lifts off
carrying a Dragon capsule to orbit, rocket and capsule built by SpaceX.  Photo credit: NASA/Gianni Woods

The U.S. Federal Reserve succeeded Thursday in moving borrowing costs higher after announcing Wednesday the first interest-rate increase since 2006, and only needed to draw $105 billion from money-market funds to achieve the goal according to Bloomberg News.

Following the announcement Wednesday by Federal Reserve Chair Janet Yellen, the Fed on Thursday increased the federal funds rate by a quarter-point from near zero, where it had been since the 2008 financial crisis. Though money markets are still awash in nearly $3 trillion in excess cash injected by the Fed through bond purchases, and despite warnings and concerns of possible ramifications upon markets, markets operated normally Thursday, and the benchmark rate rose 0.2 percentage point, or 20 basis points, about the middle of the Fed’s intended range.

Bloomberg reported Thursday trading in the fed funds market went "extremely smoothly ... The whole fed funds market seemed to adjust with relative ease this morning and everything just set at a higher level," said Bill List, capital markets manager at Federal Home Loan Bank of Pittsburgh. The Fed turned to the repo market to tighten--conducting its first actual liftoff overnight borrowing operation in that market Thursday afternoon. The Fed drained $105 billion through reverse repos at a 0.25 percent rate, up from the $102 billion it borrowed Wednesday at the old 0.05 percent rate. That was all it took--$105 billion--although the Fed was prepared to do more, potentially as much as $2 trillion according to Bloomberg.

The Fed’s daily reverse repo borrowings will swell in coming weeks, and could reach $1 trillion by next year. Zoltan Pozsar, director of U.S. economics at Credit Suisse Securities USA LLC in New York and former researcher at the New York Fed and U.S. Treasury, told Bloomberg that as the Fed’s rate increase kicks in and money-market funds start advertising higher yields, hundreds of billions of dollars will be lured from deposits in banks, which the funds will lend to the Fed through reverse repos. "It’s going to take about a month for the money fund portfolios to turn over ... When investors start seeing yields in the money funds go up and yields on deposits not go up, that’s when they are going to start to move money."

The Fed and Wall Street Differ on How High Rates Will Go https://t.co/TiiSi0uI6B pic.twitter.com/Qm2FaPPBIw

— Bloomberg Markets (@markets) December 17, 2015

Sources: federalreserve.gov and bloomberg.com


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Fintech: Tech VC Ellen Burbridge, Passion Capital, Alex Rampell (podcast)

The title of world’s financial capital bounces back and forth between London and New York. This year London has bragging rights, but does being the world’s center of gravity for finance mean so-called “fintech” companies will naturally flow from that position? London-based investor Eileen Burbidge joins Alex Rampell, General Partner at a16z, to pick apart fintech in this podcast recorded in the U.K., from barriers to the opportunities facing entrepreneurs looking to create what really amounts to better banks.

Eileen Burbidge
@eileentso
Early-stage tech VC and recovering work- and tech- aholic. Online identity full circle: Eileen Tso, Eileen Broch, Eileen Burbidge
London • passioncapital.com

fintech on Twitter:
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