Issue 193 · Mar 5, 2019 Weekly edition · 5 min read

Fintech News

As banking changes, neo-banks are on the rise, Bradley Leimer on the current state of fintech and how the SEC hasn't understood crypto. Enjoy another issue of FinTech Weekly. – Michael and the FinTech Weekly team

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Video: How Bitcoin's Crash Compares to History's Biggest Bubbles

Bitcoin’s latest plunge gives investors reason to weigh how it compares with some of history’s greatest asset bubbles. After an almost 60-fold increase in three years to nearly $20,000, the world’s biggest digital coin has now tumbled more than 75 percent from its peak.

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In this issue · 17 items

Fintech World Forum 2018 (Nov 21-22, London) FinTech World Forum 2018 (FinTech Conference) is based in London UK Europe as one of leading fintech events for global financial, blockchain, crypto currency, payments and banking technology industry. Open story ↗ Ten Iconic Moments From the Last 10 Years in Payments ngenuity — To commemorate the past 10 years of ngenuity, we wanted to look back at how the landscape changed from 2008 to today. For such an effort, we tapped Chris Skinner — author, blogger and independent commentator on the financial markets and fintech. Open story ↗ The ‘Neo-Banks’ Are Finally Having Their Moment New York Times — After the financial crisis 10 years ago, unhappy customers were expected to flee the megabanks for smaller competitors. Open story ↗ Webinar | Farmers and Chubb on Humanizing Claims with AI December 6th, 11 am ET: Can AI be the solution for hyper-personalized claims experience at scale? Join Chubb and Farmers Insurance in the live webinar “Humanising Insurance Claims with Artificial Intelligence” discussing how AI is transforming claims from a necessary back-office function into a source of competitive advantage. Open story ↗ Four Out of Five Legacy Banking Firms Gone By 2030, Analysts Warn The Financial Brand — Will digital transformation make you an ex-banker? Predictions of a banking apocalypse by Gartner find more agreement than disagreement regarding direction, among experts. The firm's suggestions for survival, via 'platformication,' sets the stage for a lively debate about what's really possible and what American consumers truly want out of a 'bank.' Open story ↗ Digital Transformation in Banking Requires Complete Rewiring, Not Just Fresh Paint The Financial Brand — Amazon, Google, and others are chewing into banking services in clever new ways. Consumers clearly love all these new choices. How can financial institutions compete? Only by rethinking everything. Open story ↗ Chinese banks’ big tech threat The Banker — Investors have doubts about Chinese banks’ ability to withstand the competition in a market where tech companies have a solid grip, writes Brian Caplen. Open story ↗ Blockchain smart contracts are finally good for something in the real world MIT Technology Review — A startup says it has tackled a long-standing problem that has kept smart contracts from responding to actual events. Open story ↗ Bradley on fintech: “_________” CASE/BY/CASE NYC — Fintech is showing that you can take a look at revenue in different ways. Innovations decrease friction in banking and the industry’s reliance on fees, which comes with that. The Fintech ecosystem acts as a foil to excessive fees—a way to finally develop an alternative path. Open story ↗ Customer Due Diligence Concerns? A 5-Step Checklist Fix FinTech Weekly Magazine — With regulatory environments becoming increasingly complex, banks have a responsibility to deliver a Customer Identification Program (CIP) and Customer Due Diligence (CDD). These processes are seen as a minimum requirement that financial institutions can’t afford to neglect. Open story ↗ Leveraging Analytics: What information could better your bank? FinTech Weekly Magazine — Analytics and “Big Data” are two of business’s favorite buzzwords, and for good reason. In recent years, analytics — and technology to perform analytics — have transformed and reshaped many industries. Open story ↗ 10 Technologies That Will Disrupt Financial Services In The Next 5 Years The Financial Brand — The scope and speed of evolution in regulation, customer behavior and technology – coupled with the emergence of new competitors – mean that the future of banking will not be a continuation of the past. New technologies will transform banking as we know it, providing both opportunities and challenges for financial institutions. Open story ↗ Regional banks are spending heavily on tech. Is it enough? American Banker — In a move that’s rare among its peers, the $223 billion-asset BB&T also provided a close look at its tech budget. This year, BB&T expects to spend $1 billion on technology, with the bulk of those costs going toward infrastructure such as data centers, and 20% going toward innovation, such as investments in fintech startups. Open story ↗ There Is No ‘Bitcoin’: What the SEC Doesn’t Get About Cryptocurrency coindesk — The U.S. Securities and Exchange Commission (SEC) has been gone to significant lengths in an attempt to understand the crypto asset space. This effort is to be applauded. However, the SEC has failed to come to terms with one fundamental aspect of crypto assets and systems. Open story ↗ You Snooze, You Lose: Insurers Make The Old Adage Literally True PorPublica — Millions of sleep apnea patients rely on CPAP breathing machines to get a good night’s rest. Health insurers use a variety of tactics, including surveillance, to make patients bear the costs. Experts say it’s part of the insurance industry playbook. Open story ↗ The Crypto Insurance Market May Total $6 Billion. That’s Nowhere Near Enough As Wall Street raises the stakes around cryptocurrency, large institutional players are circling this new asset class and bringing with them their own set of requirements. Open story ↗ Future Digital Finance 2019 (Feb 12-13, Omni Amelia Island, FL) Future Digital Finance brings together some of the brightest minds at American’s most innovative financial institutions. Our content will give you the actionable strategies you need to meet changing consumer expectations and to create meaningful long term relationships with your customers. Innovation doesn’t happen overnight. Get started on the future of finance today! Open story ↗

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Video: How Bitcoin's Crash Compares to History's Biggest Bubbles

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