Issue 163 · Apr 12, 2018 Weekly edition · 5 min read

Fintech News

Plenty new ideas, strategies and best practices to make you a better self in this week's issue: why banks will be an ecosystem of services, how time is the most undervalued resource and how to overcome common cognitive

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Empire Startups Fintech Conference New York (April 18)

Hear from those forging new trails in payments, blockchain, lending, robo-advisors, insurance tech, real estate and more. In addition to attracting hundreds of FinTech entrepreneurs, this conference also plays host to the investors and service providers that help accelerate startups. The audience can also look forward to keynotes, panels and demo updates from some of the top FinTech startups in the world.

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In this issue · 16 items

The bank of the future: an ecosystem of services Capgemini — FinTech and BigTech disruptions, combined with developments such as open banking are creating exciting opportunities as well as daunting threats. Open story ↗ Waste not want not: time as the most undervalued resource in banking Banking Tech — For those of us working in banking, time is a constant topic. Deadlines. Quarter end reviews. Projections. Demands for specific time horizon predictions for any new idea. Open story ↗ Here's how the regtech landscape is evolving to address increasing compliance needs Business Insider — Regtech solutions seemed to offer the solution to financial institutions' (FIs) compliance woes when they first came to prominence around 24 months ago, gaining support from regulators and investors alike. Open story ↗ Facebook’s data problems have an upside for banks American Banker — Just days after Facebook’s data scandal broke, Citibank announced its mobile app would provide financial guidance to anyone — even non-Citi customers — in exchange for their data. Open story ↗ History of WWW and a Caution About Prematurely Judging Modern Fintech Medium — What was it like in 1993/4 when the web was new? Turns out the reaction at the time from luminaries was not far from today’s reaction to innovation in Fintech. A story… Open story ↗ Top fintech books you must read Fintech Switzerland — From financial services, mobile banking, bitcoin and cybermoney, wealth management to insurtech trends and more, you’ll find various Fintech topics covered by popular Digital Finance and Fintech experts such as Brett King, Jonathan McMillan or Michael J. Casey in the list below. Open story ↗ How to Avoid a Digital Banking Platform Rebuild Disaster The Financial Brand — Most banks and credit unions are considering, or in the process of, converting their legacy systems. When selecting vendor partners for this transformation, it is important to ensure the end user experience is paramount in the final solution. Open story ↗ Decentralized Hybrid Neural Networks Medium — Separated Entities “Thinking Together” Open story ↗ Marcus by Goldman Sachs: A Bank + Fintech Model for the Future The Financial Brand — Marcus by Goldman Sachs is only 2 years old, but is already showing the potential of a strong Banks + Fintech strategy. Using open banking APIs and aggressive acquisition of fintech start-ups, they are building a better digital banking customer experience. Is this the bank of the future model? Open story ↗ The Big Digital Banks: JPMorgan and Goldman Sachs The Finanser — I was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much. I know that systems like Erica, short for Bank of AmErica, are up and running to make life easier, but hey google, pay my mate $50. Sorry, I meant Alexa, Siri, Cortana, whoever. Open story ↗ 36 cognitive biases that inhibit innovation Collective Campus — While we - human beings - like to think of ourselves as rational creatures, the truth is we are anything but. We are prone to over 100 cognitive biases that may subconsciously shape our perceptions, beliefs and decisions. Open story ↗ Is Voice the Next UI? The Globe and Mail — As the titans dominate the smart speaker landscape, Theodora (Theo) Lau — Innovator Technologist and Connector at Unconventional Ventures — discusses what the future might look like for fintech, financial institutions and brands. Open story ↗ AI and Machine Learning Not Being Used to Full Potential in Finance The Financial Brand — With high-volume transactional data, historical insights, accessible computer power and new analytic tools, few industries are better suited for using artificial intelligence and machine learning than banking. Yet, few organizations have fully leveraged the many ways machine learning can improve back office operations or the consumer experience. Open story ↗ The innovator’s view of Open Banking The Finanser — I hosted a dinner focused upon Open Banking recently and what it means to FinTech firms and start-ups. There were no bankers at the table, but a lot of firms who consult, provide systems or are deploying new businesses in FinTech at the table. Open story ↗ Real Estate Meets Blockchain – Why The Real Estate Market is Prime for a Crypto Disruption FinTech Weekly Magazine — The debate about which is the best type of investment is as old as investing itself. While no market is “crash-proof,” real estate is traditionally viewed as one of the best and safest (if not the safest) investment options available, for several reasons. Open story ↗ An Untraceable Currency? Bitcoin Privacy Concerns FinTech Weekly Magazine — Bitcoin is often portrayed as an untraceable method of payment that facilitates illicit activities by enabling criminals to make and receive payments without being tracked. This depiction implies that users transacting in bitcoin can do so completely anonymously — that their identities will not be exposed. However, that is not necessarily the case. Open story ↗

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