Fintech News Issue #103 February 2nd, 2017

Who will survive the digital banking revolution? Find out and get informed on everything important in fintech. Thanks for reading FinTech Weekly! – Michael and the FinTech Weekly team

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FinTech Articles

    I am very pleased that Mark Carney has robo-advice on his mind. However, in his speech he appears concerned about robo-advisors becoming a risk to our well-functioning financial system. The argument is that they may lead to excess volatility or increase pro-cyclicality as a result of herding. I see his attack on robo-advice as misinformed for several reasons.

    Bank regulations, rules and updates … it’s too darned difficult to keep up with! Is there a better way of doing business, asks Chris Skinner.

    Traditional CEOs are terrified of digital disruptors, remembering how the once-mighty Blockbuster was dispatched by Netflix or how taxi services were upended by Uber, for example. Bank CEOs are no exception.

    The days of traditional banking, and the hegemony of big brand-name banks, are coming to a close as consumers demand more transparent, responsive and honest treatment.

    It is expected that by the year 2020, investment in FinTech companies will grow to 46 billon USD, while global investment in this sector today amounts to more than 26 billion USD. Because of their high degree of innovation, solutions originating in East-Central Europe, including Poland, are the subject of considerable interest in the branch and are represented at many international conferences.

    If you are in Finance, you would have read at least one of the many predictions articles that poured from all directions on the internet in the past month. This is not trying to be yet another one but focus on the CX angle of one of them.

    Entrepreneurs condemn US action, which could slow the movement of talent and apply a brake to innovation

    While mobile payments have been off to a slow start in most of the Western world—even the rollout of EMV chip payments in the United States is far behind schedule—China has become the melting pot for mobile payment solutions.

    Africa is becoming a very interesting fintech innovation hub (in particular South Africa, Nigeria and Egypt). As much as 80% of the continent is unbanked, opening the door to a breadth of opportunities for fintech companies to seize market share.

    A new survey commissioned by personal finance comparison website finder.com and conducted by global research provider Pureprofile has found that young men are leading the way with using digital payment technology to transfer money.

    Switzerland’s government is considering new regulations in light of fintech advancements such as blockchain, with the aim of creating a more welcoming atmosphere for startups working in the space.

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