The Green Finance Shift For U.S. Banks.

What we’ll cover today:

🚀 The Biggest Financial Shift of Our Lifetime?

💡 Experts Never Innovate.

🔍 What's Going on in Fintech and Banking?

🔗 The Event Roundup

The Biggest Financial Shift of Our Lifetime?

The world is going green fast, and U.S. banks are falling behind.

Ceres’ latest report says banks must adapt now or miss a significant opportunity in sustainable finance.

Here are the 7 strategies Ceres recommends:

• Set bold climate goals to commit to sustainability.

• Embrace transparency to avoid greenwashing.

• Adopt standards like ISSB and TCFD for an edge.

• Develop climate-linked products aligned with decarbonisation.

• Communicate clearly with investors and regulators.

• Use consistent accounting methods to stay accountable.

• Define a clear climate finance taxonomy to boost transparency.

Banks that act quickly will lead in the clean energy revolution.

Here’s the whole article

1. Experts Never Innovate.

This is a tweet from Rohit Mittal, the CEO of Stilt Inc., a fintech startup that JGW acquired.

“He tweets: “In regulated industries like fintech, experts never innovate.

They point to failures and say - look if you had only talked to the experts.

But their goal is to sell their services, not innovate.” 

Here’s the whole Tweet

2. What's Going On In Fintech and Banking?

This is a podcast from Ron Shelvin, 

Ron Shevlin is highly regarded in the banking and fintech sectors and is often praised for his insightful analyses and thought leadership. Industry experts commend him for raising the bar on what defines thought leadership in finance and highlighting his ability to clarify complex banking trends.

Here’s what he says.

1. TymeBank Surpasses 10 Million Users, US$400 Million in Deposits Under 6 Years.

South African digital bank TymeBank has surpassed the milestone of 10 million users just under six years after its launch in 2019.

The bank, the first digital bank in Africa to reach profitability, now holds close to R7 billion (US$402.5 million) in customer deposits, making it one of the fastest-growing banks in South Africa based on deposits for 2024.

2.  Mastercard to Acquire Minna, Giving Users More Control Over Subscriptions.

Payments giant Mastercard has agreed to acquire Minna Technologies, which helps consumers manage subscriptions through banking apps and websites, pending regulatory approval.

The acquisition aims to enhance Mastercard’s suite of services by offering consumers an easier way to handle their subscriptions.

3. Visa Advises Banks on Card Portfolio Management.

Visa Consulting & Analytics (VCA), a division of global payments technology company Visa, has released a report detailing best practices for financial institutions to maximise value through effective card portfolio management.