Issue 116 · May 4, 2017 Weekly edition · 5 min read

Fintech News

May the 4th be with you, brothers and sisters. Read why business banking sucks, why regulation may threaten fintech and why baby boomers are THE new emerging segment of banking consumers. Save big on conference tickets

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Business Banking Sucks – but a few FinTechs and Big Banks are trying to change this.

As a business owner, I rarely log into my business bank account. They make it too hard for me to log in, and when I do, the level of capability doesn’t reflect the jobs I have to do on a day-to day-basis. We are hugely busy building our company, 11:FS, and I can’t be bothered with something that doesn’t give me basic insight and isn’t at all connected to my personal banking.

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In this issue · 15 items

Duena Blomstrom talks about the cognitive dissonance of banking BankNXT — Shaun Weston talks to Duena Blomstrom about emotional banking, cognitive dissonance and Temenos MarketPlace. Open story ↗ Emerging AI: 7 Industries Including Law, HR, Travel And Media Where AI Is Making An Impact CB Insights — We take a look at categories where AI startups are beginning to emerge. A majority of them are in the early stages of funding. Open story ↗ The future of insurance is collaboration banking technology — To the outside observer the insurance industry may look very conservative with dominant global companies and local players operating in the way they have done for years and with very little interaction with their customers. Open story ↗ 11FS Podcast EP245 – Mandatory Listening Our last news show at Level39, Aden Davies is on point for the first time, as we dive into the world of ageing plastic cards, whether social networks should be their own police force, there’s an update from the East, and just how legacy banking systems are maintained… the answer is cowboys. Open story ↗ Do Regulatory Questions Threaten the Rise of Fintech? FinTech Weekly Magazine — In the past few years, investment in the Fintech sector has been exploding. In fact, between 2013 and 2014, Fintech investing tripled to grow to more than $12 billion per year. This investing is mainly due to the rapid innovation that is happening in the sector. Open story ↗ This is what fraud looks like in the age of Artificial Intelligence TNW — You’re summoned to court where a ton of evidence including phones calls, handwritten notes, emails and chat logs undeniably prove your complicity in a crime. The problem is, none of that evidence belongs to you. They have been masterfully crafted by Artificial Intelligence algorithms that have meticulously profiled you. Open story ↗ The New Emerging Segment of Banking Consumers: Baby Boomers The Financial Brand — “Financial services has seen no shortage of breathless enthusiasm for the millennial generation, with banks and startups clamoring to be the first to understand and serve the needs of young ‘digital natives’ and ‘the mobile-first generation. But what about the rest of Americans?” Open story ↗ The Future of Money is Cloudy, with a Chance of Security Breach Bank Innovation — Financial services organizations are among the leading adopters of cloud services, according to McAfee’s recent Cloud Security Report. Open story ↗ The Pulse of Fintech – Q1 KPMG — Given the significant interest in fintech globally, and its ongoing evolution in terms of market drivers, technologies and potential use-cases, KPMG is bringing you pulse of fintech investment globally. Each quarter, we’ll highlight key fintech deals, issues and challenges seen around the world, in addition to key trends and insights related to fintech in key regions, including the Americas, the US, Asia and Europe. Open story ↗  The Big Pay-Off Of Advanced Analytics in Banking FinTech Weekly Magazine — Why should my bank start making data-driven decisions? It’s a common question many bank executives are asking as they see the competition leveraging customer data to improve service, better segment, mitigate risk, enhance marketing messages, and drive new business opportunities. Open story ↗ Disruption is Already Here jpnicols.com — Most of the disruption that we have seen in financial services so far has been on the surface, at the Experience Level. Customer touchpoints are often just digital wrappers around the same-old, same-old. Especially most of those created by incumbent financial institutions. Think of a simple financial app with limited functionality, such as balances and transfers. Open story ↗ What does the future of banking look like? Finextra — Derek White, BBVA global head of customer solutions, takes a tour of the new digital technologies that are set to reshape banking. Open story ↗ Banks and Tech Firms Battle Over Something Akin to Gold: Your Data NY Times — The big banks and Silicon Valley are waging an escalating battle over your personal financial data: your dinner bill last night, your monthly mortgage payment, the interest rates you pay. Open story ↗ Credit unions look to blockchain to solve digital identity crisis Credit Union Journal — Identity is a tricky thing, for financial institutions as for philosophers. Banks and credit unions spend an inordinate amount of time learning who their customers are, verifying that they are who they say they are and proving to regulators that they know with whom they are doing business. Open story ↗ The Transformation of the Digital Banking CIO The Financial Brand — As legacy financial institutions strive to provide more digital functionality, the role of the CIO has become more important than ever. Today's CIO in the banking industry is expected to acquire new skills and assume new responsibilities while fostering internal collaboration and creating a start-up culture. Open story ↗

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Business Banking Sucks – but a few FinTechs and Big Banks are trying to change this.

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