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batye
batye
5/9/2016 3:22:57 AM
User Rank
Platinum
Re: regulations?
@Co-found75847  I would say it depends on the cost... bottom line so to say

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Alison
Alison
5/4/2016 7:11:42 AM
User Rank
Silver
The underbanked and unbanked
There's a huge opportunity for telecos to serve a massively ripped-off segment of the population: People who deal mainly in cash, who don't have bank accounts and, as a result, have to send money via expensive services like wiring or prepaid credit cardss that not only take a sizable chunk f change but area lso time consuming. If telcos use some of the increasing number of financial options available to them, payments and transfers to families in other countries or states should be as simple as a click away, cutting out the expensive middle man, just as Square empowered a whole generation of small, indie business people. Kudos.

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Co-found75847
Co-found75847
4/28/2016 12:31:24 PM
User Rank
Steel
Re: regulations?
If not we'll create one!

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mpouraryan
mpouraryan
4/28/2016 12:17:47 PM
User Rank
Platinum
Re: transforming telcos - and finance
What is clear is that our phones are coming the "hub" for all our lives.     Although a "natural progression", I could not help but wonder if such an event would happen in the US--and how the proliferation of such services would have value--we already have Apple Pay; Pay Pal/etc. that can be used--so I can't help but wonder...

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elizabethv
elizabethv
4/28/2016 8:53:51 AM
User Rank
Platinum
Re: regulations?
@freehe - right?! Just because I like my cable company - and I don't - but still, I wouldn't just automatically trust them to excel in other avenues. I don't expect my doctor to fix my car. Even if my doctor - and I do like her - partnered with a mechanic, that doesn't mean I would automatically want to have my car fixed at my doctor's office while I was there for an appointment. I honestly worry about companies getting too large. Do what you do really well, and you'll be successful. Who asked for a business that was a jack of all trades? 

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freehe
freehe
4/26/2016 8:49:44 PM
User Rank
Platinum
Re: regulations?
It's funny how none of these companies ever mention security. They need to develop strong security measures to protect customer data. Upselling to customers is great but the key to being successful is ensuring that your current customers want the products you want to upsell.

If my cable provider decided to open a bank I would not switch because they have no experience and there will be growing pains. I hope it works out for Orange.

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jbtombes
jbtombes
4/26/2016 10:23:16 AM
User Rank
Platinum
transforming telcos - and finance
Good example of telco transformation. Next step will be for a telco to acquire a bit-coin foundry, data-center based operations that require require huge and increasingly intense (thus sometimes liquid-cooled) levels of processing.

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Ariella
Ariella
4/26/2016 10:04:18 AM
User Rank
Author
Re: regulations?
@JohnBarnes and don't forget about currency that is solely digital like Bitcoin or Ripple. 

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JohnBarnes
JohnBarnes
4/26/2016 7:53:47 AM
User Rank
Platinum
Re: regulations?
@ariella, for a generation at least, the "fractional reserve" in "fractional reserve banking" really has only had to be a ready liquidity reserve. The banks no longer need to be able to hand out piles of paper or coin in a rush (like the bank run in It's a Wonderful Life) because they can electronically borrow enough from other banks and from the central bank (the Fed in the US) to stay solvent and damp down a run. (It probably also helps that there's no visible line of scared people waiting for physical money either). Extending this power from banks to everyone -- other firms and eventually consumers -- is happening gradually anyway, and probably enhances stability overall even if it means more security holes individually. What might be more worrisome is that it is also moving the real multiplier on the money supply (or the control of money velocity) out of any central control whatever; it's not clear that in extreme circumstances, the money supply couldn't spiral up into runaway inflation or down into deflation, given how much it can be affected by entities that are functionally but not legally banks (possibly eventually including bodegas, middle school student clubs, and that guy on the corner asking you to PayPal him some change).

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ms.akkineni
ms.akkineni
4/25/2016 8:05:50 PM
User Rank
Platinum
Ready with Trending Technology
Besides conerns with Security to go mobile banking way, it also has to do with ready to be adaptable to something new , evolving trend. That also plays a dominant role with consumer market.

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