Issue 210 · Mar 28, 2019 Weekly edition · 4 min read

Fintech News

The three phases of change when transforming the bank, the true meaning of open banking and what bank CIOs think of most tech firms. A Chris Skinner triple feature in the Top Stories. Also, I'm sad to announce it's my

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Who Will Trust Facebook Bank?

This week saw global service outages taking Facebook off the grid on Wednesday, the longest outage in 15 years. The ignominy of having to announce this on Twitter must have had Facebook executives wincing.

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In this issue · 13 items

More regional banks may merge to meet tech challenges American Banker — Last month, the regional banks SunTrust and BB&T announced the largest bank merger since the 2008 financial crisis, one that would create the sixth-largest bank in the U.S. Open story ↗ The true meaning of Open Banking The Finanser — A year ago I blogged about invisible banking and that I have some issues with it, namely that the bank brand disappears and the customer finds it too easy to spend without thinking. Now, I read more and more about embedded banking, contextual banking, frictionless banking and more, and I think people have got this all wrong. Open story ↗ Challenger banks country by country: who’s who (and what’s their tech) Banking Tech — FinTech Futures‘ editorial team is keeping its finger on the fintech pulse, with these comprehensive and free guides on the challenger banks/banking services and their technology in various countries. Open story ↗ Cash flow secrets: why forecasting monthly is vital, and how to improve its accuracy FinTech Weekly Magazine — I know few CFOs who take the time to forecast the cash flow more than once a quarter, but in my book that’s a mistake. Cash flow forecasts are critical tools for monitoring the health of a company, and should be done monthly. Open story ↗ The subtle art of holding yourself accountable vol 2: running away with the circus Banking Tech — Don’t you even tell me you have not been tempted. To run away. And join the circus. Not literally Open story ↗ Hear It From the Experts: Why It’s Riskier to Not Take Risks Finovate — From why it’s riskier to not take risks when it comes to retail banking, to whether or not robots are going to need passports in the future (hint: they will!), to what trends these experts are keeping a close eye on this year. Open story ↗ Can Your Bank Deliver a Better Customer Experience? Finovate — Five years ago, no one in financial services was talking much about customer experience. Customer service? Sure. Customer satisfaction? Perhaps. Open story ↗ The bank CIO sees most tech firms as blah, blah, blah The Finanser — I can understand why bankers can be sceptical about what technologists say. For years, technologists have been telling them that their business is threatened by technological change. Open story ↗ Transforming the bank: three phases of change The Finanser — I’ve mentioned quite often that you cannot sort out all of the banks systems and structures overnight. It has to be a slow burn and often takes more than five years. It also appears to take place in three phases. Open story ↗ Big bang avoidance and APIs will boost systems integration for banks bobsguide — Banks must start small and ensure that incremental development enables them to learn about their systems, while a sudden, “big bang” launch should be avoided at all costs. Open story ↗ 41% of banks missed PSD2 deadline says survey Finextra — Close to half of banks (41%) failed to meet a recent deadline for the Payment Services Directive (PSD2) to provide a testing environment or 'sandbox' for any third party service providers (TPPs). Open story ↗ Incumbent financial institutions harness the power of the entrepreneurial mindset Banking Tech — In 2015, the Chinese insurance company Ping An launched what would soon become one of the largest fintech Software-as-a-Service (SaaS) companies in Asia. Open story ↗ What's keeping insurers from realizing their true potential? Accenture — Advanced technologies are creating more opportunities for growth, but many insurers are failing to convert potential into value Open story ↗

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Who Will Trust Facebook Bank?

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