Issue 202 · Jan 31, 2019 Weekly edition · 4 min read

Fintech News

Trust us, it's going to be a great issue this week. And It's a lot about trust. Also, FIs are seeing huge payoffs for digital investments and you'll see what the difference between good and great is. Great, isn't it? –

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Are too many finance providers conflating trust with technology?

A reputational battle is playing out across financial services as traditional financial providers get to grips with the latest wave of technological disruption posed by fintech companies.

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In this issue · 12 items

Digital trends 2019: Every single stat you need to know about the internet The New Web — We Are Social and Hootsuite’s latest collection of Global Digital reports reveals that internet users are growing by an average of more than one million new users every day, with all of the original ‘Next Billion Users’ now online. Open story ↗ The art of storytelling: trust as renewable energy Banking Tech — I am telling you stories, trust me. That is a line from a Jeanette Winterson novel that has nothing to do with banking. Nothing. All roads lead to banking only in my head. But bear with me. Let me tell you this story. It may make some sense. Open story ↗ It’s Time To Build Digital-First Banking Units The Financial Brand — With so many financial, technological and delivery advantages to being a digital bank, the best strategy for traditional banking providers may just be to start over and build a digital-only component on top of their legacy business. Open story ↗ Women technologists find their future in commercial banking Banking Tech — One of the first things engineers learn in school is to break down problems into solvable components – and selecting a career is no exception. First, you must decide where your talents lie and cultivate them. Second, you have to identify a field where you can apply those talents to the best possible advantage. Open story ↗ Financial literacy is the scourge of our times The Finanser — One of the issues I have with financial services is that it’s frightening. You might not think so, but I grew up in a world of cushioned money. I didn’t know much about money at all. The most I knew about money is begging for more pocket money. The Bank of Mum and Dad was my financial education. Open story ↗ Free Checking: The Biggest Lie In Banking Forbes — Banks aren't just lying to us, however--they're deceiving themselves about the impact that free checking accounts have on their bottom line. Open story ↗ Embracing robotic automation during the evolution of finance KPMG — The current evolution of automation technology is transforming the face of the finance function. In response to this, business leaders are recognising the unique opportunities and challenges a digital transformation of their business can deliver. Open story ↗ Can AI help banks thwart elder abuse? American Banker — Banks are stepping up their efforts to detect and deter financial elder abuse in response to a rise in such crime, and artificial intelligence software could become part of the solution. Open story ↗ Financial Institutions See Huge Payoffs For Digital Investments The Financial Brand — Banks and credit unions know they are behind the digital 8-ball, so most are ramping up their investments. As financial institutions tee up the necessary resources, most say they expect to see significant gains. But experts caution that just implementing some digital projects should not be confused with true transformational change. Open story ↗ Fintech companies raised a record $39.6 billion in 2018: research Reuters — Venture capital-backed financial technology companies raised a record $39.57 billion from investors globally in 2018, up 120 percent from the previous year, according to research by data provider CB Insights published on Tuesday. Open story ↗ Predicting the Future of Insurtech: What Today’s Advancements Mean for 2025 Bolt Inc. — While established insurance companies dabbled in telemetrics, integrated their siloed computer systems or launched drones to assess damage claims, the biggest insurtech innovations and disruptions happened behind the scenes. Open story ↗ The difference between good and great 11FS — Lately I’ve noticed a few banks and fintechs wanting to “get started designing screens right away”. It seems great, but building the wrong thing is worse than building nothing at all. Open story ↗

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Are too many finance providers conflating trust with technology?

Finance intelligence, minus the noise.

Good questions. Clear answers.

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