{"id":4710,"date":"2019-09-24T18:47:45","date_gmt":"2019-09-24T17:47:45","guid":{"rendered":"https:\/\/www.newmoneyreview.com\/?p=4710"},"modified":"2019-10-09T11:38:14","modified_gmt":"2019-10-09T10:38:14","slug":"payments-and-the-battle-over-banking","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/","title":{"rendered":"Payments to determine banks’ future"},"content":{"rendered":"

According to some fintech firms, large banks do have a future. It\u2019s just as a low-value provider of the transaction data that they, the highly rated tech specialists, will exploit<\/a>.<\/p>\n

But banks may be ready to fight back.<\/p>\n

Simon Gleeson, the moderator of a panel on the future of banking at this week\u2019s Sibos conference, held in London, draws a parallel with a technology shift that occurred 150 years ago.<\/p>\n

\u201cThe first steam-powered metal ship crossed the Atlantic in 1850, signalling the end of sail. But the most advanced sailing ship ever seen came into service thirty years later. When a new technology appears, the old one doesn\u2019t roll over and die,\u201d said Gleeson.<\/p>\n

Payments are the battleground<\/strong><\/p>\n

For now, the battleground between banks and fintechs centres on payments, a market that consultant McKinsey expects to generate $2.3trn in global revenues by 2023, up from $1.3 trn a decade earlier.<\/p>\n

Amidst a generally stagnant financial sector, there\u2019s one key reason for the steady increase in payments income\u2014data.<\/p>\n

\u201cWe are very well equipped to dig into this mine\u201d<\/p><\/blockquote>\n

\u201cBanks have been sitting on a gold mine of data, having a good life and not making enough money,\u201d said Beno\u00eet Legrand, chief innovation officer at ING, also speaking at Sibos.<\/p>\n

\u201cWe are very well equipped to dig into this mine and get the best for the customer,\u201d said Legrand.<\/p>\n

But banks have also exploited a captive payments market in the past, said co-panelist Kristo K\u00e4\u00e4rmann, co-founder and CEO of fintech firm TransferWise.<\/p>\n

\u201cWhen we started in 2011, we went around to all the banks in this room and asked them how much it would cost to process a payment. The best deal I got was \u00a31.30 per payment,\u201d said K\u00e4\u00e4rmann.<\/p>\n

\u201cBut now we pay 3 pence (\u00a30.03) for a payment across the Bank of England\u2019s Real Time Gross Settlement (RTGS) system,\u201d he said. \u201cThis is the difference that gets passed on to consumers.\u201d<\/p>\n

TransferWise became the first non-bank to participate in the UK\u2019s RTGS system in April last year.<\/p>\n

National and global payments<\/strong><\/p>\n

For now, despite innovations like cryptocurrencies<\/a> and initiatives like Facebook\u2019s Libra project<\/a>, both of which represent global systems for the transfer of value, central bank-operated national payments systems are likely to persist, said the Sibos panellists.<\/p>\n

\u201cNational currencies are likely to be around for a long time,\u201d conceded TransferWise\u2019s K\u00e4\u00e4rmann, who said his firm had initially underestimated the costs incurred by banks when moving money around the world.<\/p>\n

But it’s also important not to overcomplicate the idea of an international transfer, said Manish Kohli, global head of payments at Citi, also a participant on the Sibos panel.<\/p>\n

\u201cThe missing link is how you manage the FX component\u201d<\/p><\/blockquote>\n

\u201cIn the simplest terms, a cross-border payment is two domestic payments, with a foreign exchange transaction in between,\u201d he said.<\/p>\n

\u201cAnd forty countries worldwide now allow real-time domestic payments 24\/7,\u201d said Kohli.<\/p>\n

\u201cSo the missing link and the main area of complexity is how you manage the FX component. With some liquidity and credit lines that process can also work. But this area still needs some structural changes,\u201d said Kohli.<\/p>\n

\u201cTo have a global real-time payments system you\u2019d need to have the FX and the money markets operating 24\/7,\u201d he said. \u201cUntil that happens there will still be some instability and wastage in the system.\u201d<\/p>\n

For the time being, successes in linking national payments systems are happening on a piecemeal basis.<\/p>\n

SWIFT, the global financial messaging network that organises the Sibos conference, announced on September 23<\/a> that it had launched a new service to integrate GPI, its cross-border payments service, into domestic instant payments systems around the world.<\/p>\n

SWIFT said it had delivered payments between Australia and China in 18 seconds and sent a payment from Singapore to Germany in 41 seconds.<\/p>\n

For a global real-time payments system to operate seamlessly, there also needs to be a standardisation of digital identities and of messaging standards, said Citi\u2019s Kohli.<\/p>\n

Some countries, like India and Estonia, have introduced digital national identity systems with near 100-percent coverage, while others, like the UK and the US, have nothing equivalent.<\/p>\n

Infrastructure changes<\/strong><\/p>\n

Can central banks do anything to speed global payments up?<\/p>\n

\u201cWe are starting to look at operating RTGS systems 24\/7 so they can talk internationally,\u201d said the Bank of England\u2019s Victoria Cleland.<\/p>\n

\u201cWe think about resilience at the same time as innovation\u201d<\/p><\/blockquote>\n

\u201cBut I\u2019m not promising anything\u2014it\u2019s a phenomenal piece of work,\u201d she said.<\/p>\n

And national authorities have to balance speed against the requirements to promote monetary and financial stability, she added.<\/p>\n

\u201cWhile we are seeing a lot of change at the consumer end, payments still rely on the core infrastructure that comes back to central banks,\u201d Cleland said.<\/p>\n

\u201cThat\u2019s why we think about resilience at the same time as innovation.\u201d<\/p>\n

And while new technology, like that behind blockchain networks, could help manage global payments more seamlessly, for the time being the UK is focusing on an upgrade of its existing systems, said Cleland.<\/p>\n

\u201cAt the moment we\u2019re focused on our RTGS renewal programme, with a delivery date of 2025,\u201d said Cleland. \u201cWe won\u2019t be using distributed ledger technology (DLT) for that,\u201d she said.<\/p>\n

\u201cBut when we come round to the next renewal, whenever that may be, we\u2019ll certainly be open-minded,\u201d she added.<\/p>\n

Don\u2019t miss any more New Money Review content:\u00a0sign up here<\/strong><\/a>\u00a0for our newsletter<\/em><\/p>\n

Support New Money Review on Patreon <\/a><\/em>or in cryptocurrency<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to some fintech firms, large banks do have a future. It\u2019s just as a low-value provider of the transaction data that they, the highly rated tech specialists, will exploit. […]<\/p>\n","protected":false},"author":3,"featured_media":4580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1053,1014],"tags":[1544,1540,1542,1543,1343,1539,1399,1541],"class_list":{"0":"post-4710","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured-1","8":"category-payment","9":"tag-benoit-legrand","10":"tag-citi","11":"tag-kristo-kaarmann","12":"tag-manish-kohli","13":"tag-payments","14":"tag-sibos","15":"tag-simon-gleeson","16":"tag-victoria-cleland"},"yoast_head":"\nPayments to determine banks' future - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Payments to determine banks' future - New Money Review\" \/>\n<meta property=\"og:description\" content=\"According to some fintech firms, large banks do have a future. It\u2019s just as a low-value provider of the transaction data that they, the highly rated tech specialists, will exploit. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\" \/>\n<meta property=\"og:site_name\" content=\"New Money Review\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-24T17:47:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-09T10:38:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"933\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Amery\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ameryp\" \/>\n<meta name=\"twitter:site\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul Amery\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\"},\"author\":{\"name\":\"Paul Amery\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412\"},\"headline\":\"Payments to determine banks’ future\",\"datePublished\":\"2019-09-24T17:47:45+00:00\",\"dateModified\":\"2019-10-09T10:38:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\"},\"wordCount\":915,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg\",\"keywords\":[\"Beno\u00eet Legrand\",\"Citi\",\"Kristo K\u00e4\u00e4rmann\",\"Manish Kohli\",\"payments\",\"Sibos\",\"Simon Gleeson\",\"Victoria Cleland\"],\"articleSection\":[\"Featured\",\"PAYMENT\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\",\"url\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\",\"name\":\"Payments to determine banks' future - New Money Review\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg\",\"datePublished\":\"2019-09-24T17:47:45+00:00\",\"dateModified\":\"2019-10-09T10:38:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg\",\"width\":1400,\"height\":933},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/newmoneyreview.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Payments to determine banks’ future\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newmoneyreview.com\/#website\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"name\":\"New Money Review\",\"description\":\"A periodical covering the accelerating changes in money\",\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/newmoneyreview.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/newmoneyreview.com\/#organization\",\"name\":\"New Money Review\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"width\":1418,\"height\":158,\"caption\":\"New Money Review\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/newmoneyreview\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412\",\"name\":\"Paul Amery\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g\",\"caption\":\"Paul Amery\"},\"sameAs\":[\"https:\/\/x.com\/@ameryp\"],\"url\":\"https:\/\/newmoneyreview.com\/index.php\/author\/paul-amery\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Payments to determine banks' future - New Money Review","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/","og_locale":"en_GB","og_type":"article","og_title":"Payments to determine banks' future - New Money Review","og_description":"According to some fintech firms, large banks do have a future. It\u2019s just as a low-value provider of the transaction data that they, the highly rated tech specialists, will exploit. […]","og_url":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/","og_site_name":"New Money Review","article_published_time":"2019-09-24T17:47:45+00:00","article_modified_time":"2019-10-09T10:38:14+00:00","og_image":[{"width":1400,"height":933,"url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","type":"image\/jpeg"}],"author":"Paul Amery","twitter_card":"summary_large_image","twitter_creator":"@ameryp","twitter_site":"@newmoneyreview","twitter_misc":{"Written by":"Paul Amery","Estimated reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#article","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/"},"author":{"name":"Paul Amery","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412"},"headline":"Payments to determine banks’ future","datePublished":"2019-09-24T17:47:45+00:00","dateModified":"2019-10-09T10:38:14+00:00","mainEntityOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/"},"wordCount":915,"commentCount":0,"publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","keywords":["Beno\u00eet Legrand","Citi","Kristo K\u00e4\u00e4rmann","Manish Kohli","payments","Sibos","Simon Gleeson","Victoria Cleland"],"articleSection":["Featured","PAYMENT"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/","url":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/","name":"Payments to determine banks' future - New Money Review","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","datePublished":"2019-09-24T17:47:45+00:00","dateModified":"2019-10-09T10:38:14+00:00","breadcrumb":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#primaryimage","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","width":1400,"height":933},{"@type":"BreadcrumbList","@id":"https:\/\/newmoneyreview.com\/index.php\/2019\/09\/24\/payments-and-the-battle-over-banking\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/newmoneyreview.com\/"},{"@type":"ListItem","position":2,"name":"Payments to determine banks’ future"}]},{"@type":"WebSite","@id":"https:\/\/newmoneyreview.com\/#website","url":"https:\/\/newmoneyreview.com\/","name":"New Money Review","description":"A periodical covering the accelerating changes in money","publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/newmoneyreview.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/newmoneyreview.com\/#organization","name":"New Money Review","url":"https:\/\/newmoneyreview.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","width":1418,"height":158,"caption":"New Money Review"},"image":{"@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/newmoneyreview"]},{"@type":"Person","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412","name":"Paul Amery","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g","caption":"Paul Amery"},"sameAs":["https:\/\/x.com\/@ameryp"],"url":"https:\/\/newmoneyreview.com\/index.php\/author\/paul-amery\/"}]}},"jetpack_featured_media_url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/07\/network.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/comments?post=4710"}],"version-history":[{"count":3,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4710\/revisions"}],"predecessor-version":[{"id":4713,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/4710\/revisions\/4713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media\/4580"}],"wp:attachment":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media?parent=4710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/categories?post=4710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/tags?post=4710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}