FinTech News Issue #25 July 23rd, 2015

FinTech Articles

    Our 2015 Silicon Valley 100 list highlights the coolest people and companies in Silicon Valley right now. While only seven companies on our list are in the consumer financial technology (FinTech) industry, they’re a wildly successful bunch.

    For decades, banks and insurers have employed the same relatively static, highly profitable business models. But today they find themselves confronted on all sides by innovators seeking to disrupt their businesses.

    Startupbootcamp FinTech, the leading accelerator focused on financial innovation, has today announced the 10 international startups selected to join the London program.

    A new service on Bitcoin wallet called “Teller” turns anyone with a smartphone into an ATM, where you can deposit your money. Think Uber for banking.

    Technological innovation is creating new business models and revenue opportunities for FinTech firms globally. As disruption in the banking sector continues, what are the lessons that legacy banking organizations can learn from the new start-ups?

    Fast-moving fintech startups are supposed to be killing banks. But we've yet to really establish what a banking system without these legacy players might actually look like.

    Greenwich Associates has released a new research report exploring the potential applications and advantages of adopting the technology behind bitcoin for use in institutional finance.

    One of France's biggest banks is looking to hire a developer with a focus on bitcoin. They posted a job listing on 2nd July for an "IT developer on bitcoin, blockchains and cryptocurrencies".

    Modern components of the bank are now well on their way to becoming contemporary. Branch networks have been overtaken - though not rendered obsolete - by the rise of digital banking, remittances have been overhauled and made vastly cheaper by FinTech startups like TransferWise and Revolut.

    For the insurance companies and the law enforcement agencies alike, there is not a central, trusted database to turn to. The block chain can be used to store information on a decentralized ledger, and and therefore is a perfect match for a whole industry branch.