Issue 127 · Jul 20, 2017 Weekly edition · 4 min read

Fintech News

The secret of ICOs explained with oranges and soup, how branding branches can yield opportunities and quite a lot on AI. Enjoy this week's latest news from the fintech and digital industries. – Michael and the FinTech

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Banks May Face Kodak-Style Obsolescence in 5 Years, Jenkins Says

Banks could face a “Kodak moment” where they approach obsolescence in five to 15 years at the hands of new financial-technology companies, according to former Barclays Plc Chief Executive Officer Antony Jenkins.

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In this issue · 12 items

Consumers Prefer Digital Banking Capabilities Over Branch Proximity The Financial Brand — The majority of shopping and buying is moving from physical to digital channels across industries. The impact on the banking industry can be found in the new definition of banking convenience, and in the increased preference for digital account opening capabilities. The question is ... how will banks respond. Open story ↗ Initial Soup Offering Medium — Say I am a Glump dealer. As you know, Glump is an illegal schedule 1 neologism. This is a problem, as I don’t want to go to prison! So I consult with lawyers and we come up with a clever idea: instead of selling people “Glump”, I label my product “oranges”. Open story ↗ Branding, Branches & Opportunities Railslove <3 — "Don’t believe everything you read on the internet (except this article) or you might be lead to the conclusion that bank branches are a hopeless case already." In this piece, we take a look at ways to use strong branding and showcasing your innovation efforts to retain customers and build trust. Not only true for banks. Open story ↗ Fintech adoption surges — and not just among millennials atm marketplace — Adoption of financial technologies among consumers worldwide has surged in the past 18 months setting up fintech to enter the mainstream, according to the latest EY Fintech Adoption Index. Open story ↗ The double-edged sword of Artificial Intelligence Linkedin Pulse — In 1942, science fiction author Isaac Asimov introduced the world to his three laws of robotics. An incredibly prescient visionary, Asimov started the world thinking about the potential challenges sentient technology might present the world of humanity Open story ↗ The Financial Industry Needs to Start Planning for the Next 50 Years, Not the Next Five Harvard Business Review — Despite rapid innovations in data processing and machine learning, many businesses have yet to make the leap from the Industrial Age to the information age, and the gap between technological and organizational progress is widening. Open story ↗ More human than human: banking’s AI future is all in the voice banking technology — Aditya Challa of IMImobile takes a look at some current and future applications of artificial intelligence (AI) for customer experience in the financial and banking sector, as well as the challenges that still need to be overcome. Open story ↗ There is no 'existential crisis' challenge for banks from fintech, HSBC's digital chief says CNBC — The idea that big banks are facing an "existential crisis" from financial technology (fintech) challengers is "overblown", the digital chief of HSBC told CNBC. Open story ↗ Fintech Use Reaching ‘Mass Adoption’ Among Digital Consumers The Financial Brand — The adoption of fintech solutions is gaining momentum globally, with digital consumers being the most likely to be aware of and use the alternative banking solutions. Will this momentum slow down or is a whole new standard of consumer and banking expectations being set? Open story ↗ Building a Blockchain Strategy? Deloitte's CTO Has Advice For You Coindesk — As one of the earliest enterprise firms to specialize in blockchain, Deloitte has quickly become a fixture in industry news and at conferences. But just how important is the emerging technology to its business? Open story ↗ Why you need AI solutions to stay competitive. Irish Tech News — Interview with Spiros Margaris, Fintech and AI influencer. Open story ↗ The Power of Self-Service Data Analytics in Financial Services The Financial Brand — Banks and credit unions must move beyond using customer data for development of great reports, to the use of data for great customer experiences. Providing departmental access to data allows for better insights, faster processing and improved targeted activities. Open story ↗

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Banks May Face Kodak-Style Obsolescence in 5 Years, Jenkins Says

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