Ep. 233. News: We no longer need traditional banks

Sarah and David sit down with Forbes and The Economist journalist, Monty Munford, and CEO of Onfido, Husayn Kassai. The panel discuss the latest news hitting the fintech space this week. Including:

TSB could have up to $150m in debt after their IT systems meltdown back in April - the team discuss whether this amount is accurate (or indeed, even enough); Monzo's losses quadruple in 2017 - but is this in line with what our panel expected?

They also take a look at the FCA's latest cohort for their 4th sandbox, their review into “unfair fees” and yet another massive data breach, from a data broker no one has heard of.

We even have two "and finally" stories this week as we couldn't decide between them: Goldman Sachs is getting into EDM and rapper Big Sean raps about crypto on his latest album - has it finally gone mainstream?!

All this and so much more on today's episode of Fintech Insider!

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Special Guests: Husayn Kassai and Monty Munford.

Links:

• TSB bank will be at least £150million out of pocket over IT crash as union warns it "will never recover" from it - Mirror Online
• Monzo losses widen but the digital bank's user numbers surge
• Challenger banks raise record capital in Q1 - AltFi News
• Regulatory sandbox - cohort 4 | FCA
• Subscribe to read | Financial Times
• Exactis said to have exposed 340 million records, more than Equifax breach - CNET
• Banks to be subjected to ‘cyber stress tests’ to see if they can withstand a major hacking attack
• Goldman's Solomon just released first EDM remix of Fleetwood Mac song - Business Insider
• As Drake Drops Scorpion Album, Big Sean Raps About Crypto in 'Big Bank'
• invest.com and Bittrex Announce a New Digital Trading Platform