Issue 70 · Jun 1, 2016 Weekly edition · 3 min read

Fintech News

Welcome to another issue of FinTech Weekly. It's the 70th edition of your weekly summary of the most relevant developments in the business. This week, we bring you an interview with the ambitious mobile Banking provider

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PSD2 - What changes?

With the adoption of the revised payments directive (PSD2), the European Parliament mandated a revolution in the european payment industry. Under the new regulation, the playing field is finally level for startups in the FinTech space to play a more important role.

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In this issue · 10 items

POST /bank Hackathon Roadshow (June 2016 – March 2017) What will the digital future of banking look like? And how do topics like retail and smart data play into it? Find out at the POST /bank Hackathon Roadshow...7 cities, 3 hackathons, 3 meetups, 1 grand final! Kickoff is soon – in Cologne, June 3rd! Open story ↗ There will be rebundling after unbundling – Interview with NUMBER26 We met Maximilian Tayenthal of the rapidly growing mobile banking startup NUMBER26 at the Pioneers Festival 2016 in Vienna and talked to him about the evolution in finance and what it means for their business. Open story ↗ Fintech Finance Episode 09: Compliance and Cloud Open story ↗ Clever banking with artificial intelligence As banks, financial services providers and brands predict and plan for the way consumers will manage their money in the future, artificial intelligence (AI) is high on the business development strategy for 2016 and beyond. Open story ↗ Bankers must learn to behave or fintech will tear them apart, warns Barclays’ ex-boss Britain’s bankers have not yet convinced the public that they are reformed characters – and if banks do not change their ways, fintech companies will poach their customers, Barclays’ former chairman has warned. Open story ↗ Beware the mice of fintech I’m often asked whether banks should be afraid of the threat of fintech. My answer is that most fintech is enhancing what banks do, rather than threatening their core business. I sum this up as “wrappers, replacers and reformers.” Open story ↗ The Insurance and the IoT Report: Examining how insurance companies are leveraging IoT solutions Insurance companies have been leveraging IoT devices to get better insight into their insured clients and differentiate their product offering. This helps lead to more accurately priced premiums, better models for future payouts, and increased customer retention. Open story ↗ Why the newly banked will be the biggest problem for digital banks Devie Mohan looks at the rise of the newly banked – a group banks should focus on to keep customers and improve the customer experience. Open story ↗ Brexit: breaking the bank? As Europe’s biggest e-commerce market, the UK’s e-money and payment services industries are thriving. But with the EU referendum right around the corner, are things likely to change? Craig James, founder and CEO of Neopay, explores the potential of a Brexit-shaped disruption. Open story ↗ Deloitte say Marketplace Lenders are NO threat to banks I caught sight of a report by Deloitte over the weekend that says the marketplace lenders like Zopa and Lending Club are no serious threat to banks. This follows the report by Goldman Sachs a year ago, that said 20% of bank lending will move to these platforms over the next decade. Who’s right and who’s wrong? That remains to be seen, but here’s a few highlights from the Deloitte report. Open story ↗

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PSD2 - What changes?

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