Issue 109 · Mar 16, 2017 Weekly edition · 4 min read

Fintech News

Financial inclusion, branches vs. apps, the pitfalls of blockchain and which segments of fintech will grow the most this year. What's more? Some podcasts and events, of course. Enjoy another issue of FinTech Weekly. –

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Branches more important than apps?

Building on my challenger bank discussions, there’s some interesting points coming out of a new report by Price Waterhouse Coopers on challenger banking. It’s well worth a read, especially as they found that having branches is more important than mobile apps.

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In this issue · 13 items

11FS Podcast EP225 – Rotten to the core banking Technology is failing banking. Bankers know what a great customer experience should look like, but they’re often prevented from delivering on that due to ancient legacy systems. And as long as they operate in a cobbled environment with 1,000 subsystems, they will never have a truly digital bank. Open story ↗ These are the fintech segments most likely to grow in 2017 As the fintech industry continues to mature, new segments are taking the lead when it comes to growth. Open story ↗ Clements Worldwide Risk Index Launch (March 17) Losses to political violence have become “standard operating practice". The launch of the 2nd edition of the Clements Worldwide Risk Index uncovers potential risks for 2017 based on top losses from 2016. The data is gathered from leading industries around the globe, and examines how the shifts in political climate will impact operations. Open story ↗ Blockchain Could Save Financial Services $110 billion over Next Three Years According to a Mckinsey report, called “Blockchain Technology in the Insurance Sector” Blockchain has the potential to remove $80-$110 billion in costs for the global financial services industry over the next few years. Open story ↗ Fintech5Podcast Ep. 42 – Ron Shevlin, the snarketer No time for B.S., or cliche’s, Ron Shevlin walks through life saying “WAIT A MINUTE? What are you really trying to sell me???” He is wise, he is funny, and he is the most honest man in banking. In other words, everything you need in a consultant and commentator in an arena that can feel too full of hype that needs to continually refocus on substance. Open story ↗ When will banks stop seeing financial inclusion as charity? I was asked this question at a recent conference and yes, banks do believe that the mass poor are just that: poor. How do you make a profit out of the poor? Well, truth be told, the poorest are the most profitable. Open story ↗ Next Money Podcast Ep. 6 – Meet Alexa, your new career development coach We talk to PortfolioQuest CEO Michelle Katics on the future of learning, adapting and transforming through technology, and how we might manage our careers and businesses in future. Open story ↗ Blockchain misreads could set banks up for mistakes After a recent column, I got a lot of feedback about the lack of understanding of blockchain, bitcoin and distributed-ledger technology in banking. Open story ↗ How Fintech Can Be The Key Driver of Financial Inclusion In the context of financial inclusion, fintech holds tremendous potential. These solutions are challenging old business models as they are provided with greater speed, accountability, efficiency, and at a cheaper cost. Open story ↗ What Motivates Millennials to Switch Banks Research reveals Millennials are willing to change their banking provider, and what might be needed for retail financial institutions to win over greater market share. Open story ↗ Middle East and North Africa braces for fintech boom The Middle East and North Africa (Mena) is set to experience a boom in fintech innovation over the next three years, propelled by a large unbanked population, VC inflows and the rapid emergence of a host of new startups, according to a state of the nation report prepared by local payment services outfit Payfort and entrepreneurial platform Wamda. Open story ↗ What are the Barriers to FinTech Investment? Is 2017 truly a year of investment for fintech innovation as has been suggested? A report at the end of last year by law firm, Mayer Brown, suggested that financial services firms are keen to make an investment, yet they remain cautious due to the complications presented by strict and changing industry regulation. Open story ↗ Alternative Credit Scoring: Enabling Financial Inclusion of the Underserved – A Research report by LTP Open story ↗

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Branches more important than apps?

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