Issue 103 · Feb 2, 2017 Weekly edition · 4 min read

Fintech News

Who will survive the digital banking revolution? Find out and get informed on everything important in fintech. Thanks for reading FinTech Weekly! – Michael and the FinTech Weekly team

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Breaking Banks: Can Financial Institutions Behave Ethically?

American Banker is pleased to bring you Breaking Banks, hosted by Brett King, and featuring the editors of American Banker.

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In this issue · 15 items

Open letter to Mark Carney on Robo-Advice I am very pleased that Mark Carney has robo-advice on his mind. However, in his speech he appears concerned about robo-advisors becoming a risk to our well-functioning financial system. The argument is that they may lead to excess volatility or increase pro-cyclicality as a result of herding. I see his attack on robo-advice as misinformed for several reasons. Open story ↗ The Digital Banking Revolution: Who Will Survive? The digital revolution has moved from 'existential threat' to 'potential survival strategy' for the world’s retail financial institutions. Open story ↗ hacking.law – Berlin Legal Tech (Feb 8-10) New tools for an ancient craft. From February 8 to 10 2017 the Berlin Legal Tech will take place. It is a unique event in the emerging field of Legal Tech. Open story ↗ Bank regulations change every 12 minutes Bank regulations, rules and updates … it’s too darned difficult to keep up with! Is there a better way of doing business, asks Chris Skinner. Open story ↗ Banks – big, binary and beyond redemption The bank’s service ladder is losing its rungs and is being pulled (kicking and screaming) into a marketplace where the consumer is in control. Open story ↗ How Banks Can Keep Up With Digital Disruptors Traditional CEOs are terrified of digital disruptors, remembering how the once-mighty Blockbuster was dispatched by Netflix or how taxi services were upended by Uber, for example. Bank CEOs are no exception. Open story ↗ Why banks must look beyond today’s crypto key management standards Banking operations are diversifying, fast. Outsourcers control more of many big banks’ core and non-core operations than ever before. The age of mobility has dawned and vastly increased both the number and the kind of devices that are interfacing with banks’ core systems. Open story ↗ After the Wells Fargo scandal, millennials deserve a ‘Netflix model’ for banking The days of traditional banking, and the hegemony of big brand-name banks, are coming to a close as consumers demand more transparent, responsive and honest treatment. Open story ↗ Polish FinTech companies attract interest abroad It is expected that by the year 2020, investment in FinTech companies will grow to 46 billon USD, while global investment in this sector today amounts to more than 26 billion USD. Because of their high degree of innovation, solutions originating in East-Central Europe, including Poland, are the subject of considerable interest in the branch and are represented at many international conferences. Open story ↗ 2017 – The Year Data Made Bank? If you are in Finance, you would have read at least one of the many predictions articles that poured from all directions on the internet in the past month. This is not trying to be yet another one but focus on the CX angle of one of them. Open story ↗ UK fintech sector rails against Trump’s immigration ban Entrepreneurs condemn US action, which could slow the movement of talent and apply a brake to innovation Open story ↗ How Chinese Mobile Payments Are Quietly Conquering the World While mobile payments have been off to a slow start in most of the Western world—even the rollout of EMV chip payments in the United States is far behind schedule—China has become the melting pot for mobile payment solutions. Open story ↗ 2017: the year fintech shifts its focus to Africa Africa is becoming a very interesting fintech innovation hub (in particular South Africa, Nigeria and Egypt). As much as 80% of the continent is unbanked, opening the door to a breadth of opportunities for fintech companies to seize market share. Open story ↗ Leading the Way: Male Millennials Shaking Up the Banking Payments Market A new survey commissioned by personal finance comparison website finder.com and conducted by global research provider Pureprofile has found that young men are leading the way with using digital payment technology to transfer money. Open story ↗ Switzerland Wants to Open a Sandbox to Attract More Blockchain Startups Switzerland’s government is considering new regulations in light of fintech advancements such as blockchain, with the aim of creating a more welcoming atmosphere for startups working in the space. Open story ↗

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Breaking Banks: Can Financial Institutions Behave Ethically?

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