Issue 203 · Feb 7, 2019 Weekly edition · 5 min read

Fintech News

The first month of 2019 is in the books and we already gathered the most important news in fintech from the first week of February for you. Enjoy! – Michael and the FinTech Weekly team

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Millennials, Gen X and Even Boomers Will Ditch Banks for Amazon

A perfect digital storm is brewing, and traditional financial institutions are sailing straight into it. How will today's banking providers survive if everyone wants to make the switch and "go Prime"?

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In this issue · 19 items

What does a recession mean for fintech? Banking Tech — 2019 is upon us, and just like every year, the great economists and financial gurus are currently engaged in one of my favorite annual rituals: attempting to predict what the next 12 months will look like for the world’s economies. This is, of course, impossible. Open story ↗ Banking Should Include Podcasts As Part Of Content Marketing Strategy The Financial Brand — Consumers are reading less and listening more, resulting in enormous growth of video and audio content consumed on mobile devices. With consumers looking for self-help tools, the power of podcasts can't be ignored. The question is whether banks and credit unions should develop podcasts as part of their content marketing strategy? Open story ↗ Insurance AI and Analytics USA (May 2-3, Chicago, USA) Unleash Analytics, AI & Data To Deliver Customer Experience, Value Creation & Automation. Open story ↗ Wealth is the next big fintech game changer 11FS — We've moved on from robo-advisors (note to bankers: If you have an internal project to build or invest in a robo you're probably doing it wrong) to something more impactful. Open story ↗ Artificial Intelligence in testing: Top five use cases in financial services in 2019 Capgemini — Artificial Intelligence is critical for optimizing the testing process, aiding automation, and ultimately designing software that is self-healing. Read on to learn about key use cases on how AI can be leveraged for testing in the financial services world Open story ↗ Will Robo-Advisors And Chatbots Eliminate The Need For Financial Literacy? Forbes — Traditional methods for financial education are a waste of time when it comes to helping Millennials plan for their financial futures. Open story ↗ What business fears about AI — and how to trust it pwc — Artificial intelligence (AI) is no longer seen as a side project or science experiment, according to 1,000 US executives surveyed for PwC’s 2019 AI Predictions report. At the same time, they are concerned about AI risks that could undermine investments. Here’s what worries business and tech leaders, and what they — and you — can do about it. Open story ↗ ‘A lot of people are going to get hurt’: Petrou on fintech risk American Banker — Fintech companies like to say they’re democratizing finance, helping the little guy escape the high fees and elitist practices of the big banks. Open story ↗ How Fintech Companies Are Failing To Help Millennials With Financial Security Forbes — Low incomes, high urban rents, hefty student debt and spending habits are just a few reasons millennials struggle with their finances. That’s why this generation is an easy target for fintech companies, which often claim to help people save money and manage their spending. Open story ↗ 300+ Global insurers reveal next generation products and services for your benefit Sponsored — 67% of your peers agree that Machine Learning & AI will have huge impacts on how product innovation is shaped. 300+ C-Level, Innovation, Product, Marketing and Technology executives to get to the bottom of what is making a difference as insurance companies transform their products and services. Open story ↗ Growing Trend of Consumer Internet Companies Entering Financial Services Medici — Consumer internet companies have ruled the smartphone era over the last decade and a half. Now, many unicorns in this space are attempting to ease financial services to aid their core commerce layers. Open story ↗ Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable Forbes — Allen Day, a 41-year-old data scientist. Using the tools he has developed at Google, he can see a mysterious concerted usage of artificial intelligence on the blockchain for Ethereum. Open story ↗ Data breaches bring in big business for regtech Financial Planning — Partnerships between financial services firms have flourished in recent months, opening up vast troves of valuable consumer data to fintechs and mature companies alike. Open story ↗ Taxing Cryptocurrencies: what investors in the UK need to know FinTech Weekly Magazine — In 2015, the number of people investing in cryptocurrencies was estimated to be between 500,000 and 1,000,000 worldwide. In the last three years, we’ve seen the market cap of the original cryptocurrency (Bitcoin) grow from $6bn to $63bn. Open story ↗ How Financial Marketers Can Tap The Surging Mobile Ad Market The Financial Brand — As the mobile channel devours more and more ad dollars, financial institutions will need to master marketing on smaller screens. Maximizing mobile opportunities means matching your messages to the right audience, time of day, lifestyle and medium. Open story ↗ Customers Know What They Want. Are Insurers Listening? Bain & Company — Insurers are falling short on delivering value to customers. Bain’s Customer Behavior and Loyalty in Insurance report shows how companies can fix the problem. Open story ↗ The Fourth Industrial Revolution is about empowering people, not the rise of the machines World Economic Forum — The world is changing. There’s no way around this fact. The Fourth Industrial Revolution is now. And, whether you know it or not, it will affect you. Open story ↗ My Bank App is Better than Bitcoin for Payments (And That's Fine) Bitcoinist — The cryptocurrencies are faster and cheaper narrative has fizzled out as banks have embraced digital payments in recent years, improving customer experience and usability. Sure, buying a beer with a QR-code may give you a warm and fuzzy feeling, but it isn’t the problem Bitcoin solves. It is much more than that. Open story ↗ Cryptocurrency is over – Fintech leaders My Broadband — Crypto fever has truly broken. That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe. Open story ↗

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