423. News: Global bank profits tumble as US deposits grow

Our expert hosts, Simon Taylor and Adam Davis, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week. This week's guests include:

• Iana Dimitrova, CEO at OpenPayd
• Caroline Casey, VP of Innovation, Partnerships & Labs at Mastercard
• Jamie Campbell, CEO at Fronted

We cover the following stories from the fintech and financial services space:

• UK Chancellor announces 100-percent backed coronavirus business loans 03:24
• Coronavirus cuts HSBC profits in half 14.00
• Coronavirus drives up deposits at US banks 25:17
• Monzo applies for US banking licence 33.31
• BCR offers new details on grant allocations 41:48
• FIS starts fintech venture fund - 48:18
• Animal Crossing slashes interest rates to near-zero 56:28

We also hear exclusively from Asif Ramji, Chief Growth Officer at FIS, about their newly announced fintech venture fund.

This podcast is brought to you by Mitek (NASDAQ: MITK). Mitek is a global leader in mobile capture and digital identity verification solutions built on the latest advancements in computer vision, artificial intelligence and machine learning. Mitek’s identity verification solutions enable an enterprise to verify a user’s identity during a digital transaction, which assists businesses operating in highly regulated markets to reduce financial risk and meet regulatory requirements while increasing revenue from digital channels. Financial services, marketplaces and other organizations around the world use Mitek to reduce friction creating the digital experiences their customers expect. Mobile Deposit® and Mobile Verify® are used by millions of consumers for check deposit, new account opening and more. The company is based in San Diego with offices in New York, London, Amsterdam, Barcelona, Paris and St Petersburg. Learn more at www.miteksystems.com.

This podcast is also brought to you by Equinix. Equinix is the world's largest data center & colocation provider, enabling fastest application performance, lowest latency and a digital ecosystem for financial services. Its platform of 200+ data centres worldwide protects, connects and empowers the mission-critical infrastructure for over 10,000 businesses.

The COVID-19 pandemic has created an immediate financial and operational crisis, permanently reshaping the financial services industry. This change must be swift and unavoidable - check out our research report to find out more: Info.11fs.com/covid19

Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking.

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Special Guests: Asif Ramji, Caroline Casey, Iana Dimitrova, and Jamie Campbell.