Fintech News Issue #157 Thursday, March 1st 2018 10:37AM

The Godfather of Fintech shares his thoughts on what rewirement means, what fintech needs today, where it is going and what excites him about the future

Today we’re bringing you an insights show with a difference. A couple of months ago our 11:FS CEO David Brear was invited to be a judge of Tech City UK’s Fintech for All competition. This was a nationwide competition in 2017 to find fintech startups that make financial services work for everyone.

Recent news stories make it pretty clear that the new people in bitcoin have no idea what they've gotten themselves into.

What separates financial institutions that cultivate killer ideas from others who ruthlessly crush the creative spirit out of their employees? Why do most banking providers struggle with innovation while others, like Idea Bank in Poland, are putting ATMs in cars?

Whether you followed the latest gadgets unveiled at CES last month, or like me, attended the recent Acquired or Be Acquired Conference, the conversation around how artificial intelligence (AI) and big data promise to transform the world is not going away anytime soon.

From hype to crash – in light of the most recent exchange rate developments of Bitcoin, Ethereum, Ripple & Co., disillusionment is reigning on the crypto market. Volatile exchange rates, black sheep amongst traders and the learning that trading with crypto currencies is actually not as easy as buying a lottery ticket, have certainly put a damper on the gold rush atmosphere. Pressure is growing on the crypto traders – most of all because of regulations.

There’s nothing that we as a society get more excited about and panicked by than technological progress.

Complacency is the silent killer of banking organizations, impacting the ability to compete and to respond to the changing needs of consumers. The best defense against complacency is to accept the undeniable truths of digital banking and move forward with a unified commitment to embrace change.

In a few months we will join the chorus of well-wishers and collectively sing «Happy birthday, dear Blockchain!».

2017 saw cryptocurrencies swing wildly in valuations daily. Despite a mostly upward trajectory, the market remains susceptible to unpredictable and sometimes extreme fluctuations in prices.

Four of the top ten banks in the U.S. have announced their commitment to equal pay for women. The banking industry is making strides to reduce the gender pay gap, but have we gone far enough, soon enough?

The way people make payments is changing faster than any other area of financial services. Whether it’s that last Uber or Lyft ride, or the first trip to the Amazon Go store, your customers’ experiences in industries outside of financial services are driving new expectations when it comes to making payments.

With the help of artificial intelligence and predictive analytics, banks are learning to use their ever-growing data hoards to help you make better financial decisions.

Understanding the rationale behind financial decision-making has long been a challenge. Money touches every part of our modern consumer life, from family budgets to national politics, from shopping lists to saving accounts.

Switzerland embraces digital currencies and crypto-entrepreneurs. Switzerland’s famous banking secrecy is falling to a global assault on money-laundering and tax evasion. But financial security remains in demand.

Every day, emerging technologies are bringing in newer dimensions to the financial services industry.

British retail banks are poised to introduce money management apps to compete with those already launched by financial technology start-ups, betting their trusted brands, broad client base and deep pockets will help them make up lost ground.

In a demanding digital setting, we excel in crafting user-centered web products and provide actual benefit for our customers. With our experienced team and profound knowledge of the fintech industry, we create more than just a product: your perfect experience.