Skip to main content

"Bank to the FinTech" Why Banks of the Future Won't Use Cash | Chris Richards Finteched | Pulse | LinkedIn

xxx

In the future, social networks such as Facebook will become a new type of bank - a bank of your social credit. If you have poor social credit scores, people will be less likely to do business with you. Those with positive social values or high Klout scores will get better deals or superior rates of lending.

From "Bank to the FinTech" Why Banks of the Future Won't Use Cash | Chris Richards Finteched | Pulse | LinkedIn

xxx

xxx

Reputation will become a real social currency.

From "Bank to the FinTech" Why Banks of the Future Won't Use Cash | Chris Richards Finteched | Pulse | LinkedIn

I couldn’t agree more. It’s almost as if your identity was a new form of, well. money.

Comments

Post a Comment

Popular posts from this blog

Euro area card payments double in a decade

xxx "The number of card payments in the euro area have more than doubled in a decade as consumers increasingly dispense with the hassle of carrying notes and coins, according to the latest statistics from the European Central Bank. In 2018, card payments accounted for almost half of the total number of non-cash payments across the single-currency area. Credit transfers and direct debits were the second and third most common non-cash payment methods, accounting for approximately 23% each, while e-money and cheques together made up around seven percent. However, the relative popularity of each type of payment service still varies widely across euro area countries. In 2018 card payments accounted for just over 70% of all non‑cash payments in Portugal, compared with around 23% in Germany. The stats show that the number of card payments made by consumers and businesses has more than doubled in the last decade, with an average of 121 card payments per capita in 2018, compared with
Post a Comment
Read more