Fintech News Issue #152 January 25th, 2018

Blockchain in the open banking era, existential crisis of 'agile' in banking and the neobank threat to incumbent banks. Quite some exciting topics. Enjoy another issue of our fintech news roundup. – Michael and the FinTech Weekly team

Top Stories

    A recent Accenture study shows that consumers are overwhelmingly reluctant to share their bank details with third-parties. So how can fintech companies generate trust and encourage consumers to sign-up? I believe empowering consumers to manage their own data could be the answer.

    Are you really agile, or are you playing at agile while diluting people’s creativity, innovation and expertise for the sake of legacy KPIs and fluffy targets?

    How worried should existing banks and credit unions be of this neobank threat? Cornerstone conducted consumer research that might help address that question.

Top Conferences

    Explore the latest innovations in the sector from mobile payments to authentication and IoT. Go behind the scenes of the latest developments in machine learning and behavioural biometrics to combat fraud. Network with senior decision-makers from Europe’s biggest and most innovative players from all corners of the industry.

FinTech Articles

    The adoption of fintech solutions is gaining momentum globally, with digital consumers being the most likely to be aware of and use the alternative banking solutions. Will this momentum slow down or is a whole new standard of consumer and banking expectations being set?

    Is the financial market becoming a 'global brain'?
    via International Business Times

    The financial market is an ecology of market centers, investors, and trading firms – some human, some artificial. Trading models send signals (orders to buy or sell) through communication networks to market centers that perform non-linear sums to compute prices. The system as a whole is reminiscent of a recurrent neural network.

    The UK’s open banking era may have commenced on 13 January but it did so in an underwhelming fashion.

    The arrival of open banking will (eventually) prompt both entirely new services and major enhancements to existing services. Louise Beaumont, Co-Chair, Open Bank Working Group at Tech UK tells us what this means ahead of speaking at Finovate Europe, 6 through 9 March 2018, London.

    All is fair in love and war, they say. Leda Glyptis suggests we do what it takes to make things happen – to turn innovation and ideas into reality.

    The banking industry is faced with competing priorities, continued internal challenges and heightened competition that could make profits evaporate. With consumer expectations increasing, the cost of 'catching up' could make some organizations disappear altogether.

    Generation Z: The Future of Banking
    via The Financial Brand

    Many financial institutions blew it with Millennials. They simply waited too long to go after them. Granted, teenagers aren't typically a profitable segment, so they are easily dismissed. But Millennial adults are profitable now...

    Every year, we ask graduates from the global top 100 MBA courses which subjects they thought their business school taught well and which they taught badly. This year, and for the umpteenth year running, finance came top. But languishing in 16th place out of 18 subjects was fintech.

    Chris Skinner shares a few survey results that reveal how much trust people have in financial services.

    Banks may be losing the talent battle to London’s financial-technology industry, but the war for the customer is still to come

Podcasts & Videos

    Dan Kimerling, an open banking pioneer turned venture capitalist who recently founded Deciens Capital, explains what open banking is, why an excessive focus on risk management prevents U.S. banks from adopting it, and why it would make sense for them to take on the platform model.

Jobs

    Are you looking for a new challenge in the fintech industry or related industries? Our brand-new job section features selected and approved job openings in the industry. Connect with your new employer for free.

    [At the moment, openings are limited to Germany. Worldwide job offerings will follow soon. This way, wen can assure only highly relevant and reputable openings will be listed]

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