Issue 156 · Feb 21, 2018 Weekly edition · 4 min read

Fintech News

Another issue arrived. More predictions for the year (perhaps the last ones?) and customer experience lessons from Amazon. What's more? Ever wondered what a digital human looks like? Find out in this week's issue of

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Open Banking, one month on – a significant change in the UK landscape

Since the 13th January, it has been hard to miss the mainstream and trade press coverage on Open Banking – a significant milestone in UK banking.

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In this issue · 15 items

MiFID II: What are you missing? A Post-Implementation Checkpoint for Asset Managers Finextra — After years of development, drafting, deliberation, debate, delay, denial and deferment, MiFID II is finally, for the most part, in effect. Buy-side firms now face the combined challenges of implementing those residual requirements that were not enacted on January 3, 2018. Open story ↗ Top fintech predictions for 2018 Financial Review — Here's some crystal ball gazing, courtesy of KPMG's global fintech team. Open story ↗ Branches vs. Digital: Hitting The Retail Delivery Sweet Spot in Banking The Financial Brand — Focus too much on digital banking and you risk alienating consumers who prefer traditional channels like branches. But if you don’t invest enough in your digital experience, younger consumers may take their business elsewhere. How do you strike the right balance? Open story ↗ Ever wondered what a digital human looks like? The Finanser — We have seen a wave of excitement about technology in the past few years, from the Internet of Things to bitcoin to mobile apps to FinTech. These developments are changing the whole way in which we live and relate to each other, as every human on the planet becomes connected to everyone else through the network. Open story ↗ Singapore’s Government Blockchain Experiment Is a Road to Regulatory Understanding Cointelegraph — Last Monday, Feb. 12 Chief Fintech Officer of the Monetary Authority of Singapore (MAS) Sopnendu Mohanty mocked the excessive speculatory activity that is “perhaps negatively impacting the whole experimentation of cryptocurrency.” Open story ↗ PayPal’s Vision for the Future of Mobile Payments The Wall Street Journal — The Wall Street Journal asked PayPal’s chief financial officer, John Rainey, about the competition and the future of payments. Here are edited excerpts of the conversation. Open story ↗ Google Pay’s big global rollout begins VentureBeat — Google announced last month that it was bringing Android Pay and Google Wallet together under the new Google Pay brand. Today, the big rollout begins, with the new Google Pay-branded app now available through Google Play. Open story ↗ The digital upstarts taking on Britain’s dominant few banks The Economist — A battle between, on one side, novelty, technology and gusto and, on the other, immovable inertia Open story ↗ Three Customer Experience Lessons From Amazon The Financial Brand — Amazon may be the best customer experience organization in the world, reflected in the superior growth in sales and revenues. What can the banking industry learn from Amazon about improving customer experience? Open story ↗ Why Decentralization Matters Medium — During the first era of the internet — from the 1980s through the early 2000s — internet services were built on open protocols that were controlled by the internet community. This meant that people or organizations could grow their internet presence knowing the rules of the game wouldn’t change later on. Open story ↗ Open Banking: Opportunity or Dead on Arrival? The Financial Brand — Despite an overwhelming amount of discussion about Open Banking and the potential of an expanded banking ecosystem among the banking community, communication of Open Banking benefits to consumers has been lackluster at best. Do legacy institutions hope Open Banking just goes away? Time will tell. Open story ↗ The Future of Fintech: More “air” is needed for the system… LUDWIK SOBOLEWSKI, ExCEO at Warsaw Stock Exchange and Bucharest Stock Exchange, Board Member at HighCastle Group, explains the future of fintech and financial markets. Open story ↗ PSD2- why such a slow burn? So PSD2 arrived in a flurry of nothing. As underwhelming as it was entirely predictable, not only was the first deadline missed by pretty much all concerned, the innovative and enticing new services PSD2 is supposed to facilitate are far from fruition Open story ↗ Cryptocurrency Accounting Guide: How Do I calculate My Crypto Gains? FinTech Weekly Magazine — The increased interest and excitement towards cryptocurrencies has resulted in an influx of new money flowing into the cryptocurrency market. However, entering into the crypto world is extremely intimidating, especially when you’re dealing with a subject matter that is technically complex. Open story ↗ Alternative Investments: A path to transparency FinTech Weekly Magazine — Capital has been flowing into the alternative investment industry over the past few years, with sources projecting that money invested in private funds will reach as much as $20 trillion by 2020. Preqin recently published a study stating that there are as many as 17,000 private funds open for investment. Open story ↗

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Open Banking, one month on – a significant change in the UK landscape

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