Fintech News Issue #203 February 7th, 2019

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"?

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.

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.

Unleash Analytics, AI & Data To Deliver Customer Experience, Value Creation & Automation.

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.

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?

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

Traditional methods for financial education are a waste of time when it comes to helping Millennials plan for their financial futures.

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.

Fintech companies like to say they’re democratizing finance, helping the little guy escape the high fees and elitist practices of the big banks.

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.

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.

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.

Partnerships between financial services firms have flourished in recent months, opening up vast troves of valuable consumer data to fintechs and mature companies alike.

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.

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.

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.

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.

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.

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.