Fintech News Issue #60 March 23rd, 2016

Fintech is moving fast, there are tons of news every single day. We took the time to look at some not-so-recent articles predicting the developments in finance. How well did they capture the fintech scene as it is today? You can be certain that these are the least recent articles you will read today. Enjoy a little break from the present and take a look at the past. But please come back. – Michael and the FinTech Weekly team

FinTech Articles

    Enjoy a large set of absolutely outdated predictions for the fintech industry. Or are they? "2014 was a landmark year for the financial technology (fintech) industry. It received billions of pounds of venture capital and although the burgeoning sector caused investors, government and regulatory bodies to proceed with caution, it has continued to thrive and has found its way back into all of our conversations this year. With predictions from key industry experts, bobsguide looks at some of the fintech trends that are set to grow even more in 2015."

    The title says it all. In early 2015 American Banker published a dozen of fearless forecasts from BankThink's stable of industry veterans, experts and critics. "The Bank as Personal Shopper", "Big Breaches, Big Disruptions", or "Mortgage Lenders Get Smarter". (You might want to take a look at the forecasts for 2016 afterwards: http://ftw.li/1pNUH8a)

    A slide deck packed with statistics from 2014 including a good deal of estimations for – yet to come – 2015 and 2016. Figures are based on U.S. consumers and reveal some tremendous change over the past 1,5 years.

    An in-depth analysis of future challenges to banking by Jim Marous – as seen in September 2014. He provides information about general concerns by banking professionals, competitive threats posed by technology vendors as Apple or Paypal and what banks planned to invest in at the end of 2014. The future, as predicted then, actually is now: “For many banks, product innovation will need to go hand-in-hand with a new mind-set. The most innovative banks will no longer think of themselves as mere providers of financial products and services and enablers of transactions. They will be solution providers that play a greater role not just at the moment of transactions, but before and afterward as well.”

    Most fintechs are "Built To Exit, Not Compete", Daniel Lowther wrote in June 2015. "The startup scene in Europe is in the midst of an identity crisis as it wrestles with U.S. influence [...] In 2014, 332 European tech companies were acquired. Of these acquisitions, 122 were from U.S.-based firms. The next closest is Germany with 40, followed by the U.K. at 33. So, when European companies successfully exit, it is predominantly because of interest from across the pond." He claimed Investment, Government and the general approach needed to change. Have they? Did it change anything?

    "The payments industry is quickly adapting to new technology, new regulations and new consumer demands. Here are 15 of the industry's major transformations already in progress." – How did they do really? Click through the slideshow to see what happened and what didn't.

    In March 2015, Bernard Lunn looks at the reasons for so few insurance tech startups. “The reason there aren’t more insurance tech startups is simple: the technology and the condition for change haven’t been here until now! Insurance has largely operated the same way for the past 300 years, but now technology really can enable all lines of insurance business to be radically changed. – But did it?

    As financial technology transforms the banking industry, experts are placing bets on the banks and startups most likely to thrive in the digital future. Here are seven top contenders [...]. Are they still heading toward a bright future?

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