Is Your Current Bank Holding Back Your Financial Growth?

What we’ll cover today:

🏢 Stuck with the same bank for years?

💳 Vietnam Leads the AI Banking Revolution

🧐 Simon’s thoughts on Plaid.

🔗 The Event Roundup

Stuck With The Same Bank For Years?

You’re not alone.

Many people hesitate to switch, even with better options available.

TotallyMoney’s new comparison service highlights why switching banks could be a smart move.

The Big Four Banks dominate the market.

Yet, they often rank low in customer service.

Here’s what you gain with TotallyMoney’s fintech-powered service:

• Frictionless bank switching: Transfer your balance, Direct Debits, and overdrafts in just seven days.

• Fintech benefits: Unlock sign-up bonuses, interest-free overdrafts, and superior savings rates.

• Smart choices: Explore options from both traditional banks and forward-thinking fintech challengers.

Here’s the whole article

1. Vietnam Leads the AI Banking Revolution

Backbase, the digital banking software leader, wrapped up its highly anticipated ENGAGE Asia 2024 event.

Backbase CEO Jouk Pleiter emphasized:

"Asia, especially Vietnam, is primed to lead the shift toward customer-centric digital banking, aligning with our mission to drive AI-driven engagement orchestration and enhance customer lifetime value."

Here’s the whole article

2. Simon’s thoughts on Plaid.

Simon, the founder of fintechbrainfood.com, shares his thoughts on Plaid. 

“Recap: In 2021, Plaid raised $425m at $13.4bn, making the CEO a paper billionaire. 

Since then, Fintech valuations have normalized, with secondary markets pricing it at $3.8bn, and Plaid’s growth has dropped to a more moderate 20% YoY. It’s not yet profitable (will lose $50m in 2024) but is trending that way.” He adds

Here’s what he says.

1. PayPal CEO’s first year was praised by Wall Street, but the hard part starts now for the struggling payment company.

In January, about a hundred days into his job as PayPal CEO, Alex Chriss told CNBC’s David Faber that the payments company hadn’t had much to celebrate in recent years. But Chriss confidently said he was prepared to “shock the world.”

2. CRIF Partners With Ozone API to Help Financial Firms Support Customer Financial Wellbeing.

CRIF, the credit bureau reporting and business information firm, is joining forces with Ozone API, the open banking API solutions provider, in a move to drive financial inclusion and enable financial institutions to support their customers to make more informed decisions about their financial well-being.

3. Metro Bank partners with Infosys to boost digital transformation with AI.

Metro Bank has entered into a “long-term” collaboration with Indian digital services provider Infosys to enhance certain IT and support functions and digitise its business operations with AI.