Issue 166 · May 2, 2018 Weekly edition · 5 min read

Fintech News

Time flies. The first May issue is about Open Banking, an outlook to the banking industry 2018 and confidence in third-party services. Enjoy!

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The 11:FS Beginner's Guide to Open Banking

If you’ve been listening to the news at all in the last few months, you’ve likely run across the term Open Banking – a lot. The internet is awash with articles, thought pieces, blogs, books and podcasts on Open Banking.

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In this issue · 15 items

How Banks Are Using AI as a Tool for Transformation Medici — Artificial intelligence and machine learning are emerging as the most defining tech-marvel in this new wave of financial services. The technology, along with the abundance of data, has given way to several innovative FinTech business models. Open story ↗ Rethinking revenue generation in the age of open banking Capgemini — In today’s age of open banking, it is important we rethink revenue generation. Open story ↗ Regulating virtual currencies and ICOs The Economist — A legal framework for the crypto-sphere is starting to take shape Open story ↗ The Impact of Upcoming Cryptocurrencies on the Financial Industry FinTech Weekly Magazine — In 2009, Satoshi Nakamoto created Bitcoin partly in response to the 2008 financial collapse. He envisioned a purely peer-to-peer financial system in which you don’t have to trust third-party institutions to make transactions. Now, there are hundreds (if not thousands) of upcoming cryptocurrencies that have built on Bitcoin’s foundation. They’re here to enhance the financial industry in the same way that Bitcoin did for simple transactions. Open story ↗ Cash is not a good payment system … which is why we will get rid of it The Finanser — I was recently interviewed by the highly innovative German bank Wirecard the other day, for their blog. They kindly said I replicate it on the Finanser, so here you go … “Cash Is Not a Good Payment System – We Need to Get Rid of It, and We Will” Open story ↗ Lessons from a mobile payments revolution American Banker — There is no disputing that China is ahead of the rest of the world in mobile payments. What insight does it offer U.S. bankers? Open story ↗ Is Now The Time to Build a Digital-Only Banking Solution? The Financial Brand — As transactions continue to leave the bank branch and the cost structure of supporting physical facilities places legacy organizations at a disadvantage, more banks and credit unions are considering a digital-only delivery alternative. Is this a viable strategy for the future? Open story ↗ 2018 Banking Industry Outlook Deloitte. — Six themes driving banking industry trends Open story ↗ Counting the Costs of a Data Breach FinTech Weekly Magazine — According to the National Cyber Security Centre, set up in 2016 to deal with the growing number of network attacks, there were almost 800 serious attacks on businesses between October 2016 (when the agency was first set up) and the end of 2017. It’s fair to say that in 2018, this number is far from reducing, with the governmental organisation predicting figures for this year will quickly overtake the previous year’s attacks. Open story ↗ The Snapchat Generation Is Shaping The Future Of Fintech crunchbase — More influencers, developers, and founders are looking to the generation that will shape outcomes in the startup world for years to come: Generation Z. Open story ↗ Fintech Insider Ep. 210. News: Underserved and Overcharged 11FS — Ross takes the panel through the latest interesting and amusing stories from the fintech world, including: Global fintech funding hitting a record high, Revolut's unicorn valuation, Amazon's foray into blockchain and Cryptocurrency means funeral finance? All this and so much more on this episode of Fintech Inisider! Open story ↗ What Consumers Love (and Hate) About Mobile Banking Apps The Financial Brand — Why do consumers love some mobile banking apps and hate others? Deliver the right experience and people will rave about ease-of-use and features such as the ability to freeze credit cards, biometric fingerprint login, text alerts and expense tracking. So how does your mobile banking app stack up? Open story ↗ Are You Prepared to Be the Financial Advisor of Tomorrow? FinTech Weekly Magazine — Today, more than ever, advisors need to offer a baseline of digital services to be considered a serious player in the future of financial advice Open story ↗ How can the FS industry build confidence in using third-party services? FinTech Weekly Magazine — There’s definitely a pattern emerging in finance that is seeing power slowly flowing back to individuals with regards to their data. Where once banks ruled supreme, there’s now a market for fintech services to build layers on top of banks’ APIs under the EU’s PSD2 (Revised Payment Service Directive). Open story ↗ 5 Ways Fintech is Helping the Unbanked and Underbanked Population in 2018 FinTech Weekly Magazine — For many people, using an ATM or even stepping into a local bank branch to perform a transaction with a teller is second nature; it’s not something we even think about. For many others, especially those in very rural areas, access to banking services is a real problem though. Financial technology, known as fintech, is bridging the gap and helping more consumers gain access. Open story ↗

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The 11:FS Beginner's Guide to Open Banking

Finance intelligence, minus the noise.

Good questions. Clear answers.

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