Fintech News Issue #69 May 27th, 2016

Welcome to issue #69 of FinTech Weekly! We're sorry the recent issue came out late. We were busy at the Pioneers Festival in Vienna this week – and of course we will serve you some interviews and insights from the event early next week. But first, enjoy this week's news. You will find many thoughts about the blockchain, its strange cousin Ethereum, IoT and, then, even more blockchain...because it is changing banking. There's a good article about the PSD2 as well, a topic we haven't really covered in detail yet. So enjoy and stay tuned for everything interesting happening in the business!

– Michael and the FinTech Weekly team.

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    This is your chance to be a part of the most exciting growth the world has seen around smart cards, payments and identification. Attendees coming from the Middle East, North Africa, Indian Subcontinent, Asia and Central Europe for the fastest growing payment show in EMEA.

FinTech Articles

    Digital banking laggards are under serious existential threat, says Sudhir Kesavan, and digital pioneers are leading the charge.

    Consumers today have no patience. They want instant gratification. This means simplifying everything. You must chop out steps and minimize the number of clicks to perform any task in digital channels.

    My preferred method of accelerated learning is arguing with smart people, and the Congress delivered them in spades. But before I come back to this particular argument, let’s just frame the big picture.

    Like any new technology, blockchain is morally neutral. It can be used to decrease costs and inflate bank profits. It can be used to expand the reach of financial services to the world’s poorest people.

    Chris Skinner provides some interesting resources around the topic of the future of banking, including a video of his presentation.

    I’ve said a few times that I think the Internet of Things is where mobile was a couple of decades back. Some of us had mobile phones, and we loved them, but we really didn’t see what they were going to turn in to.

    The DAO of accrue
    by The Economist

    IT SOUNDS like a cult, but it wants to be a venture-capital fund of sorts. As The Economist went to press, the DAO (short for decentralised autonomous organisation) had already raised the equivalent of nearly $150m to invest in startups. This, say its fans, makes it the biggest crowdfunding effort ever.

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