Before it unraveled in an accounting scandal, Wirecard AG built up an image as a fast-growing financial technology company. It spewed out news releases publicizing partnerships with blue-chip names such as SAP SE, Zurich Insurance Group and SoftBank Group Corp. The Wall Street Journal found that some of those partnership announcements were misleading or were promoted without the agreement of the companies involved. The Journal reached out to more than 300 companies with which Wirecard said it had entered partnerships or collaborations.
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"In neither case was this about politics -- it was about public trust," she said in a written statement. "We applauded the efforts of the Dalios and their commitment to helping underprivileged students. But the way the partnership was conceived was flawed from the outset and, as elected public officials, we felt an obligation to correct those flaws by shining a light on how it functioned."
Not too long ago the prevailing mindset among banking industry pundits was that fintech startups would disrupt and displace incumbent banks. That view has evolved to "banks and fintechs will partner." The banking industry is at the dawn of a great new era of fintech partnerships that will change banking as we know it for the foreseeable future." Banks are buying into the new zeitgeist. Just over half (53%) of the C-level executives at mid-size banks and credit unions ($500m to $50b assets) surveyed for Cornerstone Advisors' annual What's Going On in Banking study said that fintech partnerships will be important in 2019. Digital account opening was the most-frequently cited area of focus for these potential partnerships, followed by payments and lending. Too many banks think digital account opening is about opening bank accounts through digital channels. Digital account opening is really about digital marketing, contextual product offerings, data-driven campaigns and a very tight, easy fulfillment process. Fintech startups might bring great technology to the table to make it quick and easy to open accounts, but successful digital sales requires a lot more than a tool. Every time I hear bankers talk about fintech partnerships, I think of that famous Jack Nicholson line from the movie A Few Good Men. You know the one I'm talking about--where he says "You want partnerships?
Mobile games supplier OneTouch to provide leading bitcoin casino Bitcasino with immersive table games offering. Pioneering cryptocurrency casino operator, Bitcasino and mobile-first games developer OneTouch have announced an exciting new partnership. The agreement will see an engaging selection of OneTouch renowned table games go live on the popular online casino later this year, including live dealer Baccarat, Roulette and Blackjack. Founded in 2014, Bitcasino is the world's first licensed Bitcoin-focused operator, with OneTouch's latest commercial partnership boosting its appeal amongst a wide range of audiences. "Bitcasino is the industry's foremost cryptocurrency specialist, and this partnership allows our offering to continue expanding across a diverse set of product verticals. Our unique mobile-first gaming suite has continued to go from strength to strength this year, and we've lined up an additional range of exciting product launches and operator deals for the coming period."