Issue 62 · Apr 6, 2016 Weekly edition · 3 min read

Fintech News

Enjoy the #62nd issue of FinTech Weekly. New opinions on insurtech, blockchain and what will likely be the greater challenge for banks in the future: new competition or regulation. Visit our website for the complete list

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Breaking Banks: Big Data Use in Real Time Transactions

Today, Brett talks to Pat Phelan of Trustev and Paul Siegfriend of Transunion about the developments of utilizing data to give you real time credit decisons, and give business information that make them of greater service to their customers, and the potential uses and abuses of big data.

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In this issue · 11 items

Britain's financial regulator is going all in on fintech The FCA said in its annual Business Plan, released on Tuesday that it wants to ensure "greater compliance" amongst fintech firms. Open story ↗ Customer Experience and the Unexploited Profit Opportunity With narrow margins and limited cost-cutting options remaining for most banks and credit unions, investing is an improved customer experience may generate a return not available elsewhere. Open story ↗ The FinTech50 2016: these are the game changers The FinTech50 is a list produced annually of the 50 European businesses who are transforming financial services. Now in its fourth year, it’s a recognized FinTech brand, generating worldwide interest when announced each year and this year’s list was announced last night. Open story ↗ New competition or new regulation: which is the bigger challenge for banks? History suggest that the creation of a new raft of suppliers doesn’t always result in long-term change to a market. Open story ↗ FinTech Sandbox Demo Day Last week, Greenfield attended the FinTech Sandbox’s Demo Day, which highlighted some of the exciting FinTech startups which have gone through the program. The FinTech Sandbox connects some phenomenal data partners, accelerator partners and infrastructure partners with startups. The benefit here is that what was once very expensive to get started can now be prototyped and worked on quickly and for free. Open story ↗ 10 Reasons Why InsurTech Is Going to Be Important Technology spending in the global insurance industry is estimated to be around $189 billion. By 2019, the spending industry is expected to reach $205 billion. Open story ↗ What you get for free with blockchains Over the past year I have come across many blockchain ‘proof of concepts’, that take existing business ideas or challenges and apply a specific technical design (blockchains) to the solution. The usual problem/solution decision process has been turned on its head. Open story ↗ CommerzVentures' white paper on InsuranceTech This research paper by CommerzVentures explores the five technologies that are going to transform the $4tn insurance industry: connected devices, artificial intelligence, drones, blockchain and new payment systems. Open story ↗ Welcome to the 'Havoc' Phase of Fintech Disruption In recent years, investors have poured money into startups, giving 152 of them vaunted "unicorn" valuations of more than $1 billion — and more than a dozen of them are in the fintech space. But now, investors are starting to back off and valuations are beginning to deflate. In the past four months, Social Finance Inc. has canceled its IPO, while OnDeck has seen its valuation fall significantly since its own IPO, for example. Open story ↗ I’ve got standards – which one do you want? A century ago, countries implemented different standards for most things. Our electricity, roads, governments, taxes, benefits, languages and more are all different. One of the harmonising things of the internet age is that things are all becoming standardised globally. Open story ↗ CITI: The 'Uber moment' for banks is coming — and more than a million people could lose their jobs Banks are quickly approaching their "automation tipping point," and they could soon reduce headcount by as much as 30%. That's according to a new Citi Global Perspectives & Solutions (GPS) report on how financial technology is disrupting banks. Open story ↗

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Breaking Banks: Big Data Use in Real Time Transactions

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