Issue 174 · Jul 5, 2018 Weekly edition · 5 min read

Fintech News

Another week has passed, another fintech news roundup is here. Enjoy! – Michael and the FinTech Weekly team

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Job Vacancy:PayPal-FNR PEARL Chair in Digital Financial Services

[SPONSORED] The successful candidate will be an internationally recognised researcher in the field of data, risk, and innovation and/or financial services at the University of Luxembourg. S/he will be motivated not only by scientific standing, but also by the Chair’s interdisciplinary approach; the Chair will play a pivotal role in linking technical research and developments with economic, financial and regulatory innovations, while also reaching out to key stakeholders in government (ministries, regulators, government-run start-up incubators) and to companies in the financial service sector.

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In this issue · 17 items

Are We Experiencing a ‘Fintech Moment’? The Financial Brand — Many observers try to build analogies between the transformation of banking and the demise of Kodak, Blockbuster, Borders and the taxi industry. Comparison illustrate differences in each instance, but emphasize the importance of not being complacent regarding consumer expectations and innovation. Open story ↗ 11:FS Presents One Fintech Nation - Fintech for Good 11FS — Today's insights show shines a light on how fintech is making the world a better place. Open story ↗ The innovation strategy banks should avoid American Banker — As banks compete simultaneously with traditional peers, financial technology upstarts and big technology players such as Amazon, the industrywide mantra is that they must become technology companies to survive. Open story ↗ Electronic signatures: 3 benefits for banks FinTech Weekly Magazine — Implementing new technology can often be met with skepticism. Why fix something that isn’t broken? Open story ↗ Big Blockchain: The 50 Largest Public Companies Exploring Blockchain Forbes — There’s more than one way to gain exposure to blockchain innovation. Beyond buying over-the-counter products or investing directly in blockchain startups some of the largest public companies in the world are already dabbling in the tech. Open story ↗ Banking Industry Not Prepared For New Era Of Marketing The Financial Brand — In the first five years of the Guide to Financial Marketing report, the priorities had not changed significantly. In 2018, we saw some changes in priorities that are counter to what we believe is needed. The question remains – are today's financial marketers prepared for the future? Open story ↗ Jobs to be done: Design, test, oh shit... 11FS — I speak to a lot of banks and I get asked the same question: “How do I test my product ideas?” The secret is understanding how your customers measure value and align your proposition to their definition of success. Open story ↗ The Risks and Benefits of Cryptocurrency in Real Estate Transactions FinTech Weekly Magazine — As the cryptocurrency trend continues, buyers in real estate transactions have begun to express interest in financing their purchases using digital currencies like Bitcoin. Before agreeing to accept cryptocurrency as payment in these transactions, sellers should apprise themselves of the benefits of accepting digital currency as payment as well as the substantial risks involved. Open story ↗ The three ages of fintech ccgroup — When did FinTech start? It’s hard to know for sure. Chris Skinner, the global FinTech pundit, heralds the beginning of FinTech with the launch of Zopa, a UK peer to peer lender started in 2005. It was the first time he had heard the word FinTech. Open story ↗ How has China become the world’s fintech leader? Fintech leader Karen Contet Farzam spoke at Inspirefest 2018 about how much of a cashless society China has become and what the future holds. Open story ↗ How Digital Transformation Can Lead to Greater Revenues for FIs bank innovation — There is a correlation between an FI’s revenues and its digital strategy. A new report from advisory firm EY suggests that the more mature an FI’s digital strategy is, the more revenues it is likely to generate. Open story ↗ New Global Fintech Hub Report Puts China at Top, Silicon Valley in 2nd Place Crowdfund Insider — In recent years most Fintech Hub reports have pegged the UK, and more specifically London, at the top of the list when it comes to ranking Fintech centers of excellence. Open story ↗ Between a rock and a hard place: navigating strategy conversations with cynics and pessimists Banking Tech — All of us in innovation, transformation or digital jobs inside banks sit within strategic priority spaces. We are there because the executives and the board believe that what we represent is useful, vital or inevitable. The end result is we get hired. Open story ↗ Banks' loyal customers are a 'captive audience', regulator warns - if you're unhappy, switch MoneySavingExpert — A major review of the banking sector by the financial regulator has warned that established banks have a "captive audience" of loyal customers who are losing out because they are reluctant to switch or shop around for financial products. Open story ↗ EU watchdog says some banks too plodding to win fintech race Reuters — LONDON (Reuters) - Banks saddled with bad loans risk being left behind by nimbler upstarts and Big Tech in the rapidly evolving fintech race, the European Union’s banking watchdog said on Tuesday. Open story ↗ The Critical Role of Trust in Financial Inclusion Medium — Nigeria’s financial inclusion aspiration of 80 percent by the year 2020 is failing. This assertion is based on the latest findings by the World Bank Global Findex and Intermedia. Measurement indicators published by both institutions agree that financial inclusion is on the decline — between 2014 and 2017, more people abandoned their bank accounts. Open story ↗ Open Banking: banks need to rethink product distribution Banks need to reconsider how best to provide their products to customers as a result of the changes anticipated in the age of Open Banking. Open story ↗

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