Issue 123 · Jun 22, 2017 Weekly edition · 4 min read

Fintech News

Banks can't help but help fintechs, 12 reasons why banks don't innovate and many more insightful articles. Thanks for subscribing! – Michael and the FinTech Weekly team

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The 4 Types of Innovation and the Problems They Solve

When you have a really tough problem, it often helps to expand skill domains beyond specialists in a single field. Many believe it is just these kinds of unlikely combinations that are key to coming up with breakthroughs.

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In this issue · 15 items

Why Banks Can’t Help But Help Fintechs FinTech Weekly Magazine — Would you stay with your cutting-edge bank or prefer to use four or five individual fintech companies? Most people would choose the convenient option of staying with their bank, right? Open story ↗ AI Changing the Game for Insurance Tech Exec. — Insurance company Lemonade are turning the financial services industry head with their AI processes. Open story ↗ 12 reasons why banks don’t innovate The Finanser — I just got back from the ICEEfest in Bucharest, Romania. It’s a fantastic expo organised by Dragos Stanca and his team, and was very enjoyable even with the master of ceremonies, Jeff Leach, taking the mickey out of me. Open story ↗ The End of Car Ownership The Wall Street Journal — Ride sharing and self-driving vehicles will redefine our relationship with cars. Auto makers and startups are already gearing up for the change. Open story ↗ Commercial banks join the retail revolution: three reasons to consider transformation banking technology — In 2015, Dave McKay, the chief executive of Royal Bank of Canada (RBC), warned that traditional retail banks were on a “collision course” with the likes of tech giants like Apple and Google. Open story ↗ "If you want to be a leading bank, you have to be a technology company." BBVA — Essayist Brett King shares his vision of a future that is already at hand, in which banking will have to completely change its vision of the business: the important thing will no longer be products or distribution channels, but the customer experience. Open story ↗ Artificial Intelligence in Finance: AI is the New Electricity I Know First — “The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalized, but what we’ve seen coming through here is the view that technology will actually help banking become a lot more personalized.” Open story ↗ FIs Should Take Onboarding Lessons From Amazon, Expert Says Bank Innovation — Banks should approach points of digital friction in the same way e-commerce giants do, if they want to hold onto their customers. Open story ↗ The Role of Social Media in Extending Financial Opportunities – FinTech Examples Let's Talk Payments — The number of social media users worldwide has reached 2.34 billion and is expected to grow to ~2.95 billion by 2020. Open story ↗ 8 ways to make sure your banking bot actually works Venturebeat — It’s become something of a cliché to say that chatbots are the new apps, but the notion is no longer fanciful. Last March, Microsoft released its Bot Framework, and the following month Facebook announced its support for bots in Facebook Messenger. Open story ↗ Microservices: Redesigning the Lego FinTech Weekly Magazine — In the not so distant past, enterprise computing relied on monolithic applications to provide access to business functions within an organization. These applications strove to meet all operational requirements through rich and ever-growing feature sets—think ERP systems. Open story ↗ The Future of Banking Depends On Open Banking APIs The Financial Brand — Open Banking enables third parties to develop new products and services through use of APIs. By working together and taking advantage of APIs, banks and fintech firms can leverage their complementary strengths, enhancing the customer experience much more than either entity could do on its own. Open story ↗ Artificial Intelligence- Computer to IOT Finextra — From the evolution of computer which could be the first variant of artificial intelligence (AI) with software logic and codes written, mobile transformation took place in early 2000's which provided another variant of AI. Open story ↗ Dogecoin Creator Jackson Palmer Is Concerned About Ethereum’s ICO Bubble Bitcoin Magazine — One of the biggest stories in cryptocurrency over the past couple of months has been the meteoric rise of the ether price and the speculative frenzy around the Initial Coin Offerings (ICOs) launching on top of the Ethereum platform. Open story ↗ How AI could revolutionize custody banks American Banker — Institutional clients are swimming in massive amounts of data that mere mortals can’t handle effectively. Open story ↗

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The 4 Types of Innovation and the Problems They Solve

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