Issue 124 · Jun 29, 2017 Weekly edition · 4 min read

Fintech News

Blockchain ist growing. And it's growing up. World Bank is launching a blockchain lab, the World Economic Forum published a blockchain governance taxonomy and Ethereum is getting ready to handle billions of users – or is

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Branch visits face steep decline as mobile banking takes hold

Mobile banking transactions in the UK are expected to more than double by 2022, while branch visits will dwindle to just four visits each year for the average consumer in the same period, according to figures produced by industry analyst group CACI.

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In this issue · 14 items

'End Poverty, Restore Trust': World Bank Dives into Blockchain with Lab Launch Coindesk — The world's largest multilateral development bank is launching a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world. Open story ↗ Mercedes-Benz Parent Company Launches a $110 Million Blockchain Pilot Trustnodes — Daimler, one of the world’s biggest car manufacturer and the parent company of Mercedes-Benz with some $175 billion yearly revenue, announced today the launch of a $110 million blockchain pilot. Open story ↗ 2nd Fintech Summit (Oct 30, Dubai) The 2ND FINTECH SUMMIT will bring together BFSI decision makers that want to win in their industry by digitising processes, securing critical assets, analysing data and making tactical decisions. Naseba has been working with the BFSI industry since 2003, and has recognised the tremendous shift in business models and consumer attitudes driven by technology. Open story ↗ World Economic Forum Publishes Blockchain Governance Taxonomy Coindesk — The World Economic Forum has published a detailed white paper arguing that blockchain stakeholders should organize in a way that would dwarf even the largest consortia. Open story ↗ PwC’s Global Artificial Intelligence Study: Exploiting the AI Revolution pwc — Business leaders are asking: What impact will AI have on my organisation, and is our business model threatened by AI disruption? And as these leaders look to capitalise on AI opportunities, they’re asking: Where should we target investment, and what kind of capabilities would enable us to perform better? Open story ↗ Scaling Ethereum to Billions of Users Medium — Tokens are selling at valuations which imply they’ll have millions of users. But can the blockchain support it? If not, how far away are we? Open story ↗ [Infographic] How well do banks know their customers? Sensibill — In an era where the customer is king and personalization drives business value, the banking industry has been slow to achieve the level of data liquidity they need in order to stay relevant. Open story ↗ Railslove Readings #1 Railslove <3 web products — Top notch developers, designers and entrepreneurs share what they are reading to stay cutting edge. New tools, new technologies and business culture. An intimate collection made with <3 Open story ↗ Is blockchain the land of milk and honey? 9 experts share their concerns Jaxenter — Is the blockchain just a hype? Can it offer an exponential benefit above other existing technologies? In the second part of our interview series, our nine experts talk about their concerns, the advantages of this technology, the obstacles to experimenting with it and the industries that cannot be disrupted by the blockchain. Open story ↗ Is artificial intelligence the future of capital markets? American Banker — Today, at asset management companies and other financial institutions, there are still large teams of analysts and portfolio managers, sifting through data, developing investment theses and making asset allocation decisions. The difference is that we are deluged in data. Open story ↗ How a crisis made innovation easier at Wells Fargo American Banker — How does the innovation group inside a bank relieve the natural tension with the business lines it has been appointed to disrupt? Open story ↗ Rise in online and mobile shopping drives card fraud transactions to new high Finextra — European card fraud losses hit a record €1.8bn in 2016, with the UK seeing the highest losses at £618m, as criminals took advantage of a boom in CNP-based online and mobile shopping. Open story ↗ Banking Industry Fails to Meet Personalization Expectations The Financial Brand — Consumers expect their financial institution to understand their needs and deliver personalized solutions similar to what they receive from Google, Amazon, Facebook and Apple (GAFA). Unfortunately, despite advanced AI technology, most personalization expectations remain unfulfilled. Open story ↗ Women In Fintech 2017 Powerlist: Innovate Finance Opens Nominations Forbes — UK organisation and global fintech representative Innovate Finance has announced today the opening for submissions to its 2017 Women in Fintech Powerlist. Women in the financial technology sector are celebrated for their talent and contribution to the space and nominations are open to candidates from around the world. Open story ↗

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Branch visits face steep decline as mobile banking takes hold

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