Issue 180 · Aug 22, 2018 Weekly edition · 5 min read

Fintech News

Relationship Lending, Cognitive Banking and the threats AI poses to the financial system. Plus a whole lot of top fintech events and conferences. Enjoy issue #180 of out FinTech Weekly newsletter.

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Fintech: Banking’s Anti-Aging Cream

Startups and incumbent institutions alike focus their digital efforts on Millennials. This generation is digitally native, but does that make everyone else a digital deadbeat? Far from it! Fintech is opening a host of opportunities for financial institutions to meet the unique needs of an aging population.

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In this issue · 18 items

The Psychology of Personalization in Banking The Financial Brand — Today's technologies, analytic capabilities and the changing media environment offer endless opportunities to create the personalized experiences that consumers crave. But, to create a strong individualized experience, financial institutions must first understand why people want personalization. Open story ↗ Crypto Finance Conference USA (Sep 5-7, Half Moon Bay, CA) The Crypto Finance Conference is the world’s most exclusive investor conference for cryptocurrencies and blockchain investments, with events in Switzerland, the US and soon Asia. Open story ↗ InsureFin Digital-Day (Sep 6 & 19, Cologne & Frankfurt a.M.) The business event for digital decision-makers in the financial services and insurance sector.This year, the InsureFin Digital-Day takes you for one afternoon into the world of artificial intelligence. Various industry specialists will inspire you with their keynote speeches about how they use AI for giving real value to their customers. Dates: 6th September 2018 (Cologne) & 19th September 2018 (Frankfurt am Main) Open story ↗ ebics box – SEPA payment automation out of the box The ebics box API is capable of automating all common processes involved for providers of digital marketplaces, subscription services and other business cases involving regular and high-volume payment processing in the SEPA area. Open story ↗ Helping Banks Flag Fraud Against Seniors NY Times — Dawn Shaw, a retired legal secretary in northern Maine, made two stops weekly without fail. One was her church. The other was her local bank, where she swapped stories about her children and their families with the branch manager. Open story ↗ Best in class onboarding 11FS — Onboarding comprises of the processes by which a consumer or business becomes a customer. The term applies to the end-to-end journey, from a customer seeking insight into which product is right for them, through the application process, and onto the issuing of that product and the customer starting to use it. Open story ↗ Relationship lending: Are you making the best use of your CRM? FinTech Weekly Magazine — Relationships play a significant role throughout one’s life, from personal and family relationships to business and financial affiliations. Banking is no different. Open story ↗ A Key Element of Real-Time-Payment Adoption in the U.S.: Education PaymentsJournal — It may seem that the U.S. is well on its way to achieving the Federal Reserve’s target for real-time payments (RTP) to be available to every U.S. consumer and business by 2020. After all, since the first wave of early adopters went live with The Clearing House (TCH)’s RTP® network in November 2017, many other large banks have signed on, with hundreds of smaller institutions slated to follow. Open story ↗ Cognitive Banking Requires Culture of Imagination, Not Incremental Steps The Financial Brand — The future of banking will put a premium on data analysis and cognitive technologies – areas in which the tech titans are making ever-deeper inroads. Can banks and credit unions see the bigger picture, or will they continue to "add a few bots" on top of traditional technology? Open story ↗ The World Economic Forum warns that AI may destabilize the financial system MIT Technology Review — Increased use of machine learning and cloud services could make the financial world more vulnerable. Open story ↗ Insurance of Things: Driving a New Era of Digital Disruption Medici — Standing in one line with other disruptive technologies, IoT keeps on popping up in discussions here and there as one of the overarching trends. With IoT breaking into insurance, the alliance spawned yet another concept – Insurance of Things, which is driving a new era of digital disruption of the insurance markets. Open story ↗ CryptoFriends talk law and blockchain with Founder of CryptoLaw Partners, Gordon Einstein in Malta, the “Blockchain Island” FinTech Weekly Magazine — Blockchain technology, a term that has received quite a lot of attention over the last few years in the mainstream media, has also increasingly raised questions within national and international law. Open story ↗ Why Banks Are Giving Tellers Raises, Instead of Firing Them All Bloomberg — Bank branches still have greeters, coffee and sometimes fresh-baked cookies. At HSBC, there’s also Pepper, the finance robot. About 4 feet tall, Pepper is shiny white with a lemon-shaped head, large eyes that light up blue, and a tablet attached to its chest. Open story ↗ The New Physics of Financial Services – How artificial intelligence is transforming the financial ecosystem World Economic Forum — Artificial intelligence is fundamentally changing the physics of financial services. It is weakening the bonds that have held together the component parts of incumbent financial institutions... Open story ↗ After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors NY Times — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter. Open story ↗ ‘Amazon Bank’ Is Already Here, Without a Charter or Regulatory Approval The Financial Brand — Nothing can stop Amazon. Not even banking regulators or geographic borders can slow them down. With patents, patience, a willingness to fail, a huge and devoted customer base, a universe of data, and gobs of money, Amazon represents a real threat to the traditional banking industry. Open story ↗ How fintech is changing financial services for gig economy workers Bankrate — It’s the end of the month, but your paycheck is for less and the bills are still due. This scenario is far too familiar to the many hourly paid employees, freelancers, on-demand workers and others who are up against a high-stakes juggling act. Open story ↗ Findata Day at Strata Data Conference (Sep 11, New York) Findata Day at New York's Javits Center is a day of data-meets-finance talks. Bringing together bankers, analysts, entrepreneurs, financiers, and technologists, it's a can't-miss day for anyone working in the financial sector. Open story ↗

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Fintech: Banking’s Anti-Aging Cream

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