Fintech News Issue #158 Wednesday, March 7th 2018 03:23PM

According to global consulting firm McKinsey, the banking industry is facing significant threats from new digital competitors, and from consumer adoption of digital services overall. If financial institutions don't address these risks appropriately, they could suffer the kind of big blows to their balance sheets not seen since the worldwide financial crisis of 2008.

Since advancement in the technology of Blockchain has been progressive since 2009, we’ve come a long way even though we are still in the infancy. Along the journey we have rendezvoused with the imperfections Blockchain comes with.

Online giant wants to develop product that would appeal to younger customers and those without bank accounts

The summit for 21st century digital finance leaders Future Digital Finance is the conference for digital finance innovators who are paving the way forward at America's largest financial institutions.

An infographic explaining bitcoin in a way that you kid could understand. And perhaps will help you to understand better, too.

2017 was well and truly the year than artificial intelligence (AI) hit the mass-markets and grabbed the attention of consumers – both young and old.

The ebics box API is capable of automating all common processes involved for providers of digital marketplaces, subscription services and other business cases involving regular and high-volume payment processing in the SEPA area.

Here’s a closer look at what may be going on (spoiler: small, regional banks and credit unions have grown far too reliant on the whims of just a few major online banking platform providers).

At a time when traditional banking institutions are just beginning to embrace the potential of collaboration with fintech firms, organizations like Google, Amazon, Facebook and Apple (GAFA) may disrupt the entire banking ecosystem once again.

Financial firms in Europe have spent billions on regulatory compliance, and they still face more new rules that will require more spending, according to JWG, a London think tank focused on regulation.

I counted no fewer than four adverts for online investment platforms during my morning commute in London this week, while adverts for similar services have been popping up on Instagram and Facebook.

The World Economic Forum has announced a consortium aimed at addressing one of most pressing problems in digital banking: strengthening cybersecurity for fintech companies and data aggregators as the industry migrates to the so-called open banking model.

Smaller financial institutions are having a difficult time reducing costs and generating revenue. Leveraging new technologies that can speed the end-to-end borrowing process can allow community banks to reclaim the valuable small business segment.

A new research paper by University of St. Thomas School of Law professor Wulf A. Kaal examines how governments around the world are regulating the fast-evolving initial coin offering (ICO) market.

New forecasts from leading fintech analysts, Juniper Research, estimates that over 2 billion users will access retail banking services via smartphones, tablets, PCs and smartwatches in 2018, up 10% y-o-y.

There are over 1,500 digital currencies, per coinmarketcap.com, with Bitcoin having the largest market cap at $200 billion. While having a larger market cap doesn’t mean a particular digital currency will become established, it certainly helps to give it credibility.

Digital-only banks are losing their appeal as people around the world - from India to Canada to the UK - place their faith in traditional lenders, according to data from RFi Group.

Some facts and figures on the incredible growth of fintech, put together into one nifty infographic.