Fintech News Issue #87 September 28th, 2016

“We must innovate!” Are you sick of hearing this yet? Are youe focused on revenue growth, expense management and the increasing burden of regulatory compliance? If so, innovation may be the furthest thing from your mind.

Blockchain technology is far from mature and there is a danger that regulation could crush innovation and competition. Professor Michael Mainelli and Simon Mills* argue that a more measured approach to the technology would be to develop voluntary standards.

Former Bitcoin Core lead developer Gavin Andresen has clarified comments he made comparing growth in the Bitcoin and Ethereum networks.

A FinTech CEO who doesn’t understand risk management is at a crushing disadvantage.

Why?

Why should data science and advanced analytics be a critical component to the bank’s 2017 business plan? Consider these compelling reasons:

Vitalik Buterin, creator of the fast-growing new cryptocurrency network Ethereum, wants to use his technology to disrupt, well, everything.

Historically, when new technologies become easier to use, they transform industries.

Delighted to bring you our latest catch up with Jim Marous – Keynote Speaker, Author and Strategist, Top 10 #Fintech and #Finserv Influencer, Co-Publisher of The Financial Brand, Owner of the Digital Banking Report.

Almost a quarter century ago, a book was written about how organizations would focus on share of customer as opposed to share of market, building a personalized collaboration driven by big data. With advanced analytics, banking may finally getting close to realizing this vision.

Recently there were some interesting announcements on blockchain and the payments industry that triggered me to write this blog. Especially now that SWIFT’s SIBOS event takes place in Geneva.

I find it a little amusing to see the noise being made by banks about FinTech. Lots of noise, not so much action.

The nitty-gritty work has been done with IS0 20022, but new technology and regulations mean that institutions will have to standardise their workflows as well, writes David Bannister*.

Disruptive technologies are reforming, if not revolutionizing, the retail side of financial services.

The president and chairman of the board of Switzerland's central bank described a financial system "turned on its head" by blockchain and distributed ledgers to kick off the Sibos conference yesterday in Switzerland.

In early June, Reuters disclosed that the US Federal Reserve had detected more that 50 cyber security breaches from 2011 through 2015. It should be noted that this may only represent a small fraction of the Fed’s total exposure during this period.