Issue 185 · Sep 26, 2018 Weekly edition · 4 min read

Fintech News

Strategies to create a future-proof digital bank, when the ICO market turns into a bazaar and how true digital account opening eliminates the need for branches.

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Open banking is coming, but it’s taking its time

Slow to take off, open banking could yet transform financial services and offer better deals for banking customers

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In this issue · 14 items

True Digital Account Opening Totally Eliminates Need for Branches The Financial Brand — Not long ago, most financial institutions basically had the same digital account acquisition capabilities. Not any more. Leading institutions are pulling away. Banks and credit unions that don't provide end-to-end digital account opening must upgrade quickly. Open story ↗ Mastering Open Banking: How the ‘Masters in Openness’ create value Innopay — Senior bank executives are starting to understand that Open Banking will have key implications on their future competitive positioning and related digital transformation activities. Open story ↗ After the crisis, a new generation puts its trust in tech over traditional banks CNBC — Fintech may be one of the few industries looking back fondly at what happened to Wall Street after 2008. Open story ↗ Is Open Banking forcing fintech banks to evolve again? Finextra — Fintech banks are tapping into the huge cultural shifts created by the internet and creating new desires and expectations in the financial services industry. They’re putting huge pressure on the high street retail banks and delivering results in exciting new ways. Open story ↗ ICO Market Makers: When the Market Turns into a Bazaar FinTech Weekly Magazine — ‘Market makers’ are fueling the cryptocurrency industry, but their methods of operation may jeopardize the foundations on which it stands Open story ↗ Employee Retention — Do’s, Don’ts and Not Anymore’s in the IT World The Railslove Blog — Achieving great workplace culture, good brand marketing, high employee satisfaction and economical success as a company in the IT industry all boils down to the very same thing now. Open story ↗ As the financial sector embraces cloud technologies what are the critical factors for success? FinTech Weekly Magazine — Today in order to maintain competitive advantage, financial institutions need to be increasingly agile and quick in how they respond to fast-changing customer expectations and ultimately beat their competitors. To this point, last month the EBA — European Banking Authority published a Report on the Prudential Risks and Opportunities Arising for Institutions from Fintech. Open story ↗ 4 Key Strategies To Create a Future-Proof Digital Bank The Financial Brand — Deploying a digital-first banking platform is not only now possible but mandatory for financial institutions of all sizes. To compete effectively in the future, every bank and credit union must understand the four facets of a digital platform strategy — omnichannel capability, modular structure, open API architecture, and smart technologies. Open story ↗ Security, Security… (+ Tokens) FinTech Weekly Magazine / CoopCoin — Real-world assets represented by ERC721 non-fungible tokens is one thing. Saying that this kind of token is a security is confusing, inaccurate and sometimes plain wrong. Open story ↗ Africa’s fintech startups are innovating out of need and global investors are backing them Quartz Africa — After pulling in almost a third of total funding raised by startups on the continent in 2017, the hot streak for African fintech businesses has continued this year. Open story ↗ App-Only Banks Rise in Europe and Aim at Traditional Lenders NY Times — Greg Stevenson was trying to refinance the mortgage on his four-bedroom home in eastern England when things started going awry. An attempt by his bank, TSB, to shift data to a new computer system had gone spectacularly wrong. For several maddening days, he could not connect to his account, transfer funds or reach anybody at the bank for help. Open story ↗ U.S. way behind the curve on open banking Across North America, policymakers, fintech companies, and financial services firms are finally beginning an earnest dialogue about open banking. The Senate Banking Committee recently touched on the issue at a Sept. 18 hearing — one of the first official discussions in the halls of Congress. Open story ↗ FinTECHTalents – The ultimate fintech festival (Oct 30-31, London) Registration is open for the ultimate fintech festival with two days of innovation, collaboration, live tech demos, music & craft beer. With over 2000 attendees, FinTECHTalents connects tech start-ups, financial institutions and academia under one roof in a unique setting. Book via this link for your discounted ticket. Open story ↗ Future Branches 2018 (Dec 3-5, Austin, TX) The Conference for Branch and Retail Banking Innovators Future Branches is the only conference that explores how leading financial institutions are revamping retail banking technology, retooling front line associates, and creating the branch and retail banking experience of the future. Open story ↗

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Open banking is coming, but it’s taking its time

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