Fintech News Issue #214 April 25th, 2019

The first financial revolution, Why fintech should the fourth industrial revolution and what can banks learn from fintechs about strategic messaging? Enjoy these and more topics in FinTech Weeklys latest issue - Max and the FinTech Weekly team.

Top Stories

    A recent report from the World Economic Forum highlighted why financial services should welcome what has been dubbed the “fourth industrial revolution” after the impact it has had on a range of sectors such as healthcare, retail and agriculture.

    Han Seung-soo, IFF co-chairman, former prime minister of the Republic of Korea and president of the 56th session of the UN General Assembly, welcomes financial technology as a force for innovation, but recognises policy responses must be synchronised at a national and global level

    Successful fintech companies of all sizes tend to spend a lot of time and effort crafting a strong institutional identity.

FinTech Articles

    It's a fascinating time for fintech. What was once a disruptive force in the financial world has become standard practice for many industry leaders.

    At the time of this writing, there was over $15 trillion in outstanding mortgage debt in the US, making it the largest type of outstanding debt in the country.

    In his keynote address, Prime Minister Tun Dr Mahathir Mohamad emphasised the importance of effective implementation of real public-private sector initiatives. I moderated the session on: Innovating Financial Services, with experts including from Bank Negara and the Fintech Association. Basically, the discourse centered on how digitalisation has begun to change the way we live and do business, and to improve our way of life.

    The Financial Conduct Authority is prepping new rules for the crypto markets. In March 2018, just a few months after crypto prices hit their peak, chancellor of the exchequer Philip Hammond announced the creation of a Cryptoassets Taskforce — comprised of the FCA, HM Treasury and the Bank of England — as part of the government’s broader fintech sector strategy.

    When it comes to confusing jargon and empty buzzwords, few fields are as guilty as the financial services or tech industry. When the two come together, it's a Venn diagram of awful terminology.

    Amid continued concerns around the impact Brexit will have on the talent deficit in the financial services industry, Felicity Burch, director of innovation and digital at CBI and Omar Ali, partner at EY discuss how to inspire the next generation of fintech talent with Finextra.

    Robinhood, a Fintech brokerage firm that combines traditional securities with digital assets in a single app, has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC), according to a report by the San Francisco Business Times.

    Alex Cyriac was 33, single and healthy when he got a wake-up call about medical costs in retirement. His mom confided she’d stopped taking a medication because the co-pay under her Medicare drug plan had risen $200 a month. Cyriac insisted she fill her prescription and said he’d pick up the tab. “I had naively assumed that when you retire you have Medicare,’’ he says.

Podcasts & Videos

    The State of Fintech
    via Finextra

    Megan Caywood, Global Head of Digital Strategy, Barclays, speaks about the state of play in fintech, how banks should work with fintechs, whether they can provide the best services by mimicking neobanks and by using the trendiest technology available, how they can best help fintechs post sandbox stage and whether European banks should follow the Asia Model.

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