Fintech News Issue #124 June 29th, 2017

Top Stories

    The world's largest multilateral development bank is launching a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world.

    Tokens are selling at valuations which imply they’ll have millions of users. But can the blockchain support it? If not, how far away are we?

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Top Events

    The 2ND FINTECH SUMMIT will bring together BFSI decision makers that want to win in their industry by digitising processes, securing critical assets, analysing data and making tactical decisions. Naseba has been working with the BFSI industry since 2003, and has recognised the tremendous shift in business models and consumer attitudes driven by technology.

FinTech Articles

    Mobile banking transactions in the UK are expected to more than double by 2022, while branch visits will dwindle to just four visits each year for the average consumer in the same period, according to figures produced by industry analyst group CACI.

    The World Economic Forum has published a detailed white paper arguing that blockchain stakeholders should organize in a way that would dwarf even the largest consortia.

    Business leaders are asking: What impact will AI have on my organisation, and is our business model threatened by AI disruption? And as these leaders look to capitalise on AI opportunities, they’re asking: Where should we target investment, and what kind of capabilities would enable us to perform better?

    In an era where the customer is king and personalization drives business value, the banking industry has been slow to achieve the level of data liquidity they need in order to stay relevant.

    Is the blockchain just a hype? Can it offer an exponential benefit above other existing technologies? In the second part of our interview series, our nine experts talk about their concerns, the advantages of this technology, the obstacles to experimenting with it and the industries that cannot be disrupted by the blockchain.

    Today, at asset management companies and other financial institutions, there are still large teams of analysts and portfolio managers, sifting through data, developing investment theses and making asset allocation decisions. The difference is that we are deluged in data.

    How does the innovation group inside a bank relieve the natural tension with the business lines it has been appointed to disrupt?

    European card fraud losses hit a record €1.8bn in 2016, with the UK seeing the highest losses at £618m, as criminals took advantage of a boom in CNP-based online and mobile shopping.

    Consumers expect their financial institution to understand their needs and deliver personalized solutions similar to what they receive from Google, Amazon, Facebook and Apple (GAFA). Unfortunately, despite advanced AI technology, most personalization expectations remain unfulfilled.

    UK organisation and global fintech representative Innovate Finance has announced today the opening for submissions to its 2017 Women in Fintech Powerlist. Women in the financial technology sector are celebrated for their talent and contribution to the space and nominations are open to candidates from around the world.

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