Issue 64 · Apr 20, 2016 Weekly edition · 4 min read

Fintech News

Some weeks are just more exciting than others. The past few days I encountered many good articles and had a hard time choosing the ones that made it to this issue. The Top Stories include an Interview with Avant, risks

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Alternative Lenders, US vs. UK and The Future of Banking – An Interview with Avant

We interviewed Raj Singh and Jürgen Hütter from online lender Avant about the reasons alternative lenders gain ground, why the US offers better prerequisites for the business and what the bank of the future will look like.

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In this issue · 12 items

Open sourcing finance: you cannot delegate this project Talking about transformation at conferences every day gets you into a mantra. My mantra is leadership and how banks lack technological leadership. The pushback is that you have too many technologists without banking knowledge. We need banks run by people who understand money, and they can tell the technologists what to do. Open story ↗ Breaking Banks: Innovative Finance Global Summit 2016 Liz Lumley hosts, with JP Nicols as her wingman. Guests include Matthias Kroner, CEO of Fidor; Lawrence Wintermeyer, CEO of Innovate Finance; Anju Patwardhan, Global Chief Innovative Officer, Standard Chartered Bank; Peter Jackson, Chief Innovative Officer, Santander; Eileen Burbidge, VC at Passion Capital; and Wendy Jephson, CEO/Founder of Sybenetix. These are some of the best and brightest innovators in banking and FinTech! Don’t miss! Open story ↗ Six big fintech risks (and four solutions) Some of the world’s leading bankers are calling for more collaboration to benefit from fintech’s potential and better manage its risks. Open story ↗ Blockchain Beyond the Hype Blockchain (distributed ledger) technology is at the height of the hype cycle. VC funding so far has exceeded $1 billion. Banks, payment and clearing systems, government agencies and service providers have also invested strongly. Many of the largest banks are exploring, experimenting, testing and even piloting blockchain applications. Open story ↗ Banks and fintech in 2025: An unlikely alliance In just 10 years, we can expect banks (and other financial institutions) to look, from the outside, like a vastly different organization: a technology startup. That doesn’t mean branches will offer nap pods and catered lunches; rather, your bank will have placed newfound emphasis on the design and customer experience paradigm that has changed while retail banking has been playing catch-up. Open story ↗ Banks increasingly see fintechs as collaborators as well as competitors, study shows Bank executives have a new vision of the future, and fintech firms are in it, according to a recent study. The 2016 World Retail Banking Report, an annual study from Capgemini and Paris-based banking industry association Efma, found that the attitudes of bank executives toward fintech firms has shifted in the past 12 months. More bank executives see nimble fintech as potential partners as well as potential foes. Open story ↗ Bricks or Clicks? Which Banking Channel Do Consumers Want More? This study exposes the mounting tension between old and new delivery channels: traditional branches vs. digital self-service. Are consumers really ready to ditch bricks for clicks? Open story ↗ The Role of Social Media in FinTech According to a report, mobile commerce is estimated to reach $278.9 billion by 2018. With this increase, there comes a shift in the way we make payments across the globe. There will be an estimated 2.55 billion users of social networks by 2017 according to a report by eMarketer. Open story ↗ Most Bankers Want to Update Their Cores — But Don’t Expect To Bankers want modern cores — but most don’t plan to do anything about it. That’s the slightly depressing conclusion of a recent study by NTT Data Consulting, formerly known as Carlisle & Gallagher. Open story ↗ Fintech’s problems with fraud, women and Generation Z Closing off our Fintech A to Z, we look at fintech’s verification challenges, its gender gap and the opportunities within the youth market. Open story ↗ Are we in danger of creating faster horses? I’m often talking about Victorian visions of the future to illustrate the issue we have today. The Victorian vision of the future was dealing with a number of problems, one of which was horse shit. Manure. Manure was a massive issue. Victorian Britain had too many horses and carriages on the streets, and the horses produced lots of manure. Open story ↗ Why big banks won’t be able to join the fintech boom Perhaps slightly late in the day, the major banks have woken up to that threat, and have started to respond with a hurricane of investments, either trying to create their own platforms, or else partner with one of the fast-growing new challengers. The strategy is fairly clear – if you can’t beat them, join them. Open story ↗

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Alternative Lenders, US vs. UK and The Future of Banking – An Interview with Avant

Finance intelligence, minus the noise.

Good questions. Clear answers.

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