Fintech News Issue #91 Thursday, October 27th 2016 04:27PM

...and what that means for their future.

One of the most consistent findings being reported on banking and fintech is the lack of trust that millennials have in their bank.

Now technology is transforming the financial services landscape for the unbanked and the underbanked.

The rapid rise in digital channels creates opportunities for banking providers to develop more meaningful relationships with consumers by using data to optimize the experience.

In an age of increasingly high consumer expectations, driven by ever increasing customer choice, the term “customer experience” has become more than a simple buzzword. Used as a key brand differentiator for all types of industries, it has emerged as a crucial tool in driving customer loyalty in the long-term.

Business strategies – especially in the tradition sense – are rather pushy. If you have a product, your strategy is to explain why a customer should use it.

In the financial services industry, blockchain looms as a large but distant and somewhat mysterious presence. A few forward-thinking bankers take it seriously and are trying to figure out how to turn it to their own advantage. Everyone else has heard about it, knows little about it, and is taking a wait-and-see approach.

Consumer access to financial data has become a hot topic of late—and with good reason. U.S. consumers are embracing a proliferation of digital financial services, spanning everything from alternative lending to automated investing.

Devie Mohan returned to Sibos this year to ask technology and banking leaders what they thought about the progress of fintech since 2015.

One could argue that we are living in a period of renaissance when it comes to developing new financial technologies.

Can Swift stay relevant in a world of blockchain?

Swift, founded in 1973 with the aim of standardizing how cross-border payments are sent, is the epitome of a middleman. It sits between many of the banks worldwide, making money off the fees it charges when its members sent transactions between one another.

New banking rules baffle humans; can machines do better?

A small tweak to bitcoin could have a big impact.

This has been the central point of contention in bitcoin's "block size debate", a long-running dispute over whether to lift a hardcoded limit on the amount of data that can be included in each block of transactions.