• Google Keeps Third-Party Cookies, Mastercard Expands Open Banking, and More

  • Jul 23 2024
  • Duración: 5 m
  • Podcast

Google Keeps Third-Party Cookies, Mastercard Expands Open Banking, and More Por arte de portada

Google Keeps Third-Party Cookies, Mastercard Expands Open Banking, and More

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  • Welcome to Banking on Disruption Daily for Tuesday, July 23rd, 2024. I’m Fred Cadena. First up, Google has decided to continue using third-party cookies in its Chrome browser, reversing its earlier plan to phase them out. This move follows pushback from advertisers and regulators, and signifies Google's ongoing efforts to balance user privacy with the economic needs of the web. Next, Mastercard is expanding its open banking initiative by establishing new partnerships. This strategic move aims to enhance their services through better financial data integration and more seamless transactions, reflecting Mastercard's commitment to innovating in the financial sector. Shifting focus to customer retention, we explore how financial institutions can learn from other industries' loyalty programs. Robbie Kellman Baxter emphasizes understanding customer needs over mere program mechanics. Success stories like Amazon Prime illustrate the importance of addressing customer pain points, while programs like My Best Buy Plus show the value of exclusive benefits and deeper engagement. In other news, banks such as Ally Financial are using synthetic credit-risk transfers to manipulate capital ratios, projecting a lower-risk profile while issuing more debt. Though this method helps achieve certain financial objectives, it raises concerns about transparency and effectiveness. Lastly, after CrowdStrike's software update caused widespread crashes, CIOs are underscoring the importance of rigorous vendor evaluations. Experts recommend stringent testing, selective update acceptance, and robust disaster recovery planning to maintain system reliability. That’s all for today! Thanks for tuning in to Banking on Disruption Daily. Until tomorrow, this is Fred Cadena, wishing you success in your digital pursuits.
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