Fintech News Issue #108 March 9th, 2017

The struggles of banks in the digital age is real. Banking as a service, emerging technologies, customer loyalty, AI...these are only a few topic covered by this week's featured articles in FinTech Weekly. Enjoy!

Top Stories

    Doing more, better, with a smaller workforce, is the main outcome we should expect from the systemic and systematic application of advanced technology in the financial services industry. Is the industry ready?

    Banks have traditionally been considered pioneers of process automation, but they are currently in the background of today’s digitized, customer-driven financial services landscape. The disruption of traditional banking grows stronger worldwide, and banks must reinvent their services to meet today’s device-obsessed consumers expectations.

    It’s a cliché to say of a book that every bank CEO ought to read it. But when it comes to Chris Skinner’s new book, Value Web, every bank CEO ought to make sure at least a couple of people in a variety of departments across the bank do read this book.

FinTech Articles

    Artificial intelligence is coming to banking. Here are five steps that can help you plan a strong AI strategy for your bank or credit union.

    Analytics has been at the core of retail bank marketing for decades. But despite the proliferation of data, the ability to effectively leverage insights for a personalized customer experience and enhanced profitability has remained elusive.

    Even years into the deployment of the internet, many believed that it was still a fad. Of course, the internet has since become a major influence on our lives, from how we buy goods and services, to the ways we socialize with friends, to the Arab Spring, to the 2016 U.S. presidential election.

    How to Woo a Bank
    by Joan McGowan

    When it comes time to choose a business partner, banks will favor those who help them execute their third party risk management (TPRM) responsibilities over those who begrudgingly comply.

    Beyond shopping and mobile payment options, the automation of all aspects of our financial lives allows for greater control. It is easy to get a handle on all your accounts and monitor them via programs and sites like Quicken, Mint.com and others. However, the biggest benefit of FinTech shouldn’t be limited to access alone.

    “Fintech is similar to social media 10 years ago,” said Ruth Polachek, CEO and co-founder of Fincheck, during a panel at Bank Innovation yesterday.

    Did you doze off and miss the digital banking revolution? If so, here is your indispensable guide to choosing a digital banking platform

    Who said millennials are not brand-loyal? A new study by J.D. Power, released yesterday, found that banks are currently enjoying strong advocacy and loyalty from their customer base.

    Whether your interaction with artificial intelligence (AI) is limited to science-fiction or you spend more time in your day talking to Siri and Alexa than actual humans, you can’t hide from the fact AI is changing the world.

    Seven years ago, the first new retail bank in almost a century got its licence to open: Metro Bank. Now, there are so many new banks starting up in Britain (and across Europe) that it’s sometimes hard to keep up with it all.

    Automation eats into the financial profession by unbundling jobs.

Podcasts & Videos

FinTech Development and Business Newsletter. Take it, its free!