Fintech News Issue #216 May 9th, 2019

This weeks issue is about the next step for banks and fintechs, about the question if Amazon will have the same success with Blockchain as they did with cloud and about the Oracle of Omaha who is searching for gems in Asia's fintech Business. This and a lot of more topics keep you up to date in the world of Fintech - Max and the FinTech Weekly Team

Top Stories

    In recent years, the Philippine banking ecosystem has undergone rapid digital transformation driven by sweeping technological advances. The Philippine Banking Almanac states that the Philippine banking industry started as a government venture to provide deposit services and fund production in the agricultural and commercial industries.

    After carving out their dominance in the cloud computing space, Amazon Web Services (AWS) has seemingly set their sights on blockchain with Amazon Managed Blockchain

    Around 40,000 investors, many from China and elsewhere in Asia, gathered at the annual Berkshire Hathaway shareholders meeting in this Nebraska city Saturday to hear from Warren Buffett.

FinTech Articles

    Banks and fintechs: the perfect partnership
    via Global Banking and Finance

    Figures from Accenture estimate that the point-of-sale (POS) finance space represents a $1.8 trillion opportunity for banks, and that’s just in the U.S. There are no two ways about it, retail finance represents an enormous opportunity for banks. But are they missing a trick by not being nimble enough to dominate this landscape? Can they capitalise on this opportunity or will they lose out to the fintech pack who have come in and set the standard in the POS finance space?

    FinTechs are capable of offering quality services to their customers at a comparatively lesser cost because AI enables them to control costs at each stage.

    Every founder starts with a big idea, but only 1 in 10 succeed. So what’s the difference between the fintech startups that get off the ground and those that don’t make it out of the gate? This VB Live event is your chance to find out how founders and VCs look at creating successful startups first-hand.

    Big, bigger, fintech
    via DNA India

    There are over 2,000 fintech start-ups in India and counting. But with RBI proposing a regulatory sandbox for beta-testing of new products, will the sector's growth hit a bump?

    That’s the conclusion from KPMG, which surveyed 91 financial-technology companies in the U.K., including nine where at least one founder was a woman. The report, published Friday, showed that firms with a female founder have more than double the internal rate of return on average than peers where the initial entrepreneurs were all male.

    A month ago I was among the 5,000 attendees at the LendIt Fintech trade show in San Francisco. LendIt is one of the larger fintech events around, making it a good time to take the industry’s pulse. Throughout the two days, I heard a lot about fintech’s future: the adoption of blockchain, improving customer experience, using artificial intelligence (AI) to power all sorts of lending activities.

    In 2018, global fintech investment doubled as large companies doubled down on their efforts, creating several mega deals throughout the year.

    The rise of FinTech diversity in customer behaviors. In addition, advanced technologies are also influencing the insurance industry. It is considered that insurance (InsurTech) and other technology startups continuously working to redefine and modernize the customer experience through creative modifications such as risk-free underwriting, on-the-spot purchasing, activation and claims processing and likewise.

Podcasts & Videos

    Asia Fintech Goes Ballistic
    via Breaking Banks

    Brett King is joined by Jason Cao, Huawei’s global Financial Services Industry President for Enterprise Business Group in Shanghai, discussing how Emerging Tech is transforming the future of Fintech and Finserv in China and Yuxiao Hu, sharing insights on the latest AI developments there. Then, Brett hosts Matthias Kröener, previously of Fidor Bank, sharing his exit story from the bank he founded more than a decade ago, followed by a chat with Arvie de Vera, Head of Fintech at UnionBank of the Philippines, talking today’s flourishing fintech ecosystem in the Philippines.

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