Issue 151 · Jan 17, 2018 Weekly edition · 4 min read

Fintech News

Being usual will keep you afloat only for so long. Once you stop moving, you're doomed – at least in banking. Says Chris Skinner. This and a lot more insights on how to excel (or at least not fall behind) in the ever

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Banking as usual is NOT an option

I’ve blogged quite a bit about adapting to change lately, and will continue to do so as banking-as-usual (BAU) is not an option. It’s similar to standing in the middle of the road. If you stand there for long enough, you’ll get run over.

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In this issue · 14 items

Look Beyond Technology for Better Digital Banking, Fiserv Says bank innovation — With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions. Open story ↗ The Use of AI in Banking is Set to Explode The Financial Brand — AI can improve customer personalization, identify patterns and connections that humans can't, and answer questions about banking issues in real-time. Financial institutions are already finding success with AI. However, what may be 'amazing' today will be table stakes in the near future. Open story ↗ Navigating Cryptocurrency Regulation: Common Sense in an Uncommon Industry FinTech Weekly Magazine — The recent, exponential growth of bitcoin, Ether, and other cryptocurrencies has brought cryptocurrencies firmly into the public eye. Some have created crypto-products or tokens to raise funds in a veritable cash grab with little foresight, planning, or disclosure. Others – by the tens and hundreds of thousands – are signing up to purchase crypto-assets. Often these purchasers have no understanding of the underlying technology or the risks involved, proving that, as Mark Twain opined, “common sense is very uncommon.” Open story ↗ Fintech learns to play nice with traditional institutions Investment News — Fintech is finally learning to play nice with the financial services industry. The last couple of years have seen fintech upstarts forge successful partnerships with incumbent financial institutions to better the industry from the inside out. But it wasn't always this way. Open story ↗ 5 Blockchain Developments Coming in 2018 Coindesk — During the course of 2017, we saw big technology players making moves in blockchain. [...] It's safe to say that Fortune 500 companies are now pairing with providers to explore blockchain’s uses in their businesses Open story ↗ Cryptocurrencies – Does the Next Big Thing have Staying Power? FinTech Weekly Magazine — Cryptocurrencies – not just bitcoin, but any of the hundreds of different currencies that have been created using blockchain technology – have caught the imagination of the public. There are, seemingly, daily articles that predict either the demise of all traditional currencies in favor of cryptocurrencies, and just as many articles predicting the demise of cryptocurrencies. Open story ↗ How Fintech Is Targeting Millennials Using AI And Machine-Learning Forbes — Over the last several years, millennials have been upending the consumer market as companies scramble to find the best way to attract the world’s first group of digital natives, a wily lot who thrive on innovation, automation and all of the latest tech gadgets. Open story ↗ Four RegTech trends of 2017 bankingtech — 2017 was tipped to be a big year for RegTech, with many predicting the beginning of fundamental, tech-enabled transformation of the middle and back office. Open story ↗ PSP ecosystem explained and global mapping of key players FinTech Weekly Magazine — As the PSP segment in the payments value chain is maturing, retail prices for online payments are steadily dropping, while the level of service offered to merchants is only increasing. Consequently, players aim to gain scale and increase capabilities through strategic acquisitions. This report describes the global PSP space today and defines the capabilities offered by the different participants in the ecosystem. Open story ↗ Amazon predicted to make a “disruptive” entrance into insurance Insurance Business Mag — Much has been made of what looks like plans by Amazon to enter the insurance market in Europe, after the online retail giant was seen recruiting insurance professionals in London. Open story ↗ Banks must adopt video banking, says Celent report bankingtech — Banks need to embrace video banking if they are going to compete effectively and retain customers, according to a new report released by analyst firm Celent. Open story ↗ Fintech perspective: the best is yet to come FinTech Weekly Magazine — In the past 18 months a great many column inches have been given over to distributed ledger technology, more commonly known as blockchain and its power to disrupt industries, particularly in the financial sector. Open story ↗ Mobile Payment: NFC, QR Codes, In-app and beyond… FinTech Weekly Magazine — ‘Mobile payments’ is a broad term. As the ecosystem has developed, various new technologies have emerged to change the way we act and transact in-store. Open story ↗ The FinTech Big 5: RegTech, Blockchain, InsurTech, AI and Financial Inclusion Medium — Going in to 2018, we have chosen five areas of interest to focus on. Each represents a vital area of innovation in the financial industry, and has a particular relevance to Luxembourg’s thriving financial technology ecosystem. Open story ↗

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Banking as usual is NOT an option

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