Issue 152 · Jan 24, 2018 Weekly edition · 4 min read

Fintech News

Blockchain in the open banking era, existential crisis of 'agile' in banking and the neobank threat to incumbent banks. Quite some exciting topics. Enjoy another issue of our fintech news roundup. – Michael and the

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In this issue · 15 items

The role of Blockchain in the Open Banking era   FinTech Weekly Magazine — A recent Accenture study shows that consumers are overwhelmingly reluctant to share their bank details with third-parties. So how can fintech companies generate trust and encourage consumers to sign-up? I believe empowering consumers to manage their own data could be the answer. Open story ↗ Find your new job in the fintech industry FTW Jobs — Are you looking for a new challenge in the fintech industry or related industries? Our brand-new job section features selected and approved job openings in the industry. Connect with your new employer for free. <br><br> [*At the moment, openings are limited to Germany. Worldwide job offerings will follow soon. This way, wen can assure only highly relevant and reputable openings will be listed*] 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 ↗ Is the financial market becoming a 'global brain'? International Business Times — The financial market is an ecology of market centers, investors, and trading firms – some human, some artificial. Trading models send signals (orders to buy or sell) through communication networks to market centers that perform non-linear sums to compute prices. The system as a whole is reminiscent of a recurrent neural network. Open story ↗ The open banking era has started with a whimper Verdict — The UK’s open banking era may have commenced on 13 January but it did so in an underwhelming fashion. Open story ↗ The open future is here: now comes the hard part Banking Tech — The arrival of open banking will (eventually) prompt both entirely new services and major enhancements to existing services. Louise Beaumont, Co-Chair, Open Bank Working Group at Tech UK tells us what this means ahead of speaking at Finovate Europe, 6 through 9 March 2018, London. Open story ↗ Open banking in the U.S.: ‘The default is to say no’ American Banker — Dan Kimerling, an open banking pioneer turned venture capitalist who recently founded Deciens Capital, explains what open banking is, why an excessive focus on risk management prevents U.S. banks from adopting it, and why it would make sense for them to take on the platform model. Open story ↗ All’s fair in love and innovation BANKNXT — All is fair in love and war, they say. Leda Glyptis suggests we do what it takes to make things happen – to turn innovation and ideas into reality. Open story ↗ Increasing Challenges Could Destroy Bank Profitability The Financial Brand — The banking industry is faced with competing priorities, continued internal challenges and heightened competition that could make profits evaporate. With consumer expectations increasing, the cost of 'catching up' could make some organizations disappear altogether. Open story ↗ Generation Z: The Future of Banking The Financial Brand — Many financial institutions blew it with Millennials. They simply waited too long to go after them. Granted, teenagers aren't typically a profitable segment, so they are easily dismissed. But Millennial adults are profitable now... Open story ↗ The existential crisis of ‘agile’ in banking BANKNXT — Are you really agile, or are you playing at agile while diluting people’s creativity, innovation and expertise for the sake of legacy KPIs and fluffy targets? Open story ↗ Business schools have a problem with fintech The Financial Times — Every year, we ask graduates from the global top 100 MBA courses which subjects they thought their business school taught well and which they taught badly. This year, and for the umpteenth year running, finance came top. But languishing in 16th place out of 18 subjects was fintech. Open story ↗ The Neobank Threat: How Worried Should Banks Be? Cornerstone Insight Vault — How worried should existing banks and credit unions be of this neobank threat? Cornerstone conducted consumer research that might help address that question. Open story ↗ Half of banks’ customers don’t trust them BANKNXT — Chris Skinner shares a few survey results that reveal how much trust people have in financial services. Open story ↗ Banks and Fintechs Are Duelling In a ‘War For Talent’ Bloomberg — Banks may be losing the talent battle to London’s financial-technology industry, but the war for the customer is still to come Open story ↗

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