Fintech News Issue #68 May 18th, 2016

Dear readers, be warned: This week's issue is really diverse! We have a (rather large) infographic about the state of fintech, then there's the importance of feelings in banking, reasons why people like to pay cashless, blockchain, IoT, femtech, CX, and even more. Phew, that's going to be really informative. So enjoy and thank you for choosing our newsletter. - Michael and the FinTech Weekly team

Top Stories

    The financial services industry is evolving at a rapid pace, introducing new and efficient technology, the kind of which we haven't experienced since ATMs, index mutual funds, and discount brokers first burst on to the scene when everyone was still wearing flares. A new infographic compiled by DealSunny.com takes a closer look at the entire fintech landscape and how it is 'digitally disrupting' the financial world, revealing some pretty interesting facts along the way.

    It’s not about the numbers, it’s about the feelings, says Duena Blomstrom, and banks should become acquainted with the concept – and fast.

    Over the past five years or so, consumers have seen rollouts for everything from novel P2P services, to EMV chip cards, to a host of mobile wallet apps. This spark in interest and investment has been driven by a number of prominent business sectors, most notably finance and technology.

Top Events

    Banking Growth Forum is a two-day conference that will bring together 125 executives from 30 of the largest global financial institutions and some of the biggest names in financial technology to zero in on the key levers of retail banking growth.

    FinTechStage is a conference with an unconventional format that brings together a unique network of innovators obsessed with driving entrepreneurship and investment in Fin Tech.

    The goal is to connect three communities such as FinTech startups, investors and financial institutions at the aim to foster the innovation and the collaboration among all the international players in the sector.

FinTech Articles

    There’s a lot of talk about blockchain, yet very little action. Chris Skinner looks at the current state of ‘disillusionment’.

    When Spanish Conquistador Hernando Cortez burnt his boats on a Veracruz beach, it was an extreme act of commitment; a signal that there was no going back regardless of whether they found Aztec gold or not. There are now a lot of traditional banks who are faced with the question of whether to “burn the boats” and fully commit to a digital future.

    As IoT connectivity increases and rapidly expands, it’s a trend that’s set to transform the way we work and communicate. Today we’re exploring the IoT and why it matters for your business.

    There’s nothing quite like sharing a vision of a utopia with others that can intoxicate one to the point of an opiate haze where everything and everyone is lovely, loving, and lethargic about doing some of the hard slog that actual Utopia requires.

    Bogdan Neagu asks how disruptive fintech is, and what it means for society as a whole.

    I was talking to a City chap this week about the Brexit vote and he felt it was clear we would leave. I said I couldn’t see that because there was not a single logical economic reason for leaving. He said that I was stupid to think of this as logical. It’s emotional.

    For Manolo Sanchez, the chief executive of BBVA Compass, the future is about sharing technology and the basics of banking with fintech partners, and getting help from them in turn, without relinquishing customer relationships.

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