Fintech News Issue #143 November 23rd, 2017

The exact nature of collaboration and competition between legacy financial organizations and new fintech providers remains uncertain. Banks and credit unions must continue to explore strategic options, however, as technology changes and regulations evolve.

The financial services industry must respond to a mobile marketplace that has a new demographic profile, new usage patterns and new expectations around AI, IoT and other digital technologies.

FinTech is rapidly becoming the backbone of consumers’ buying and investing habits, increasingly entrenching different technologies into everyday use. FinTech has transformed the way banks offer financial services to customers, and every day, financial institutions are finding innovative ways to share banking use cases and financial functions with their beneficiaries.

Our largest IMTC Conference made its home in Miami, which offers people from all over the world, an attractive and inexpensive travel destination. IMTC WORLD gathers +480 participants from close to 50 countries and is the largest gathering of the industry in the world.

By adopting a layered model that moves the focus from presentation to orchestration, banks can deliver an omni-access digital service that truly works for customers, says Peter-Jan Van de Venn, CCO of Dutch digital core banking platform provider Five Degrees.

A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture the opportunity, banks must take a strategic, rather than tactical, approach.

Bitcoin has come a long way in the eight or so years it's been in existence, but there's still a long way to go before the digital currency becomes a widely used method of paying for goods and services. Here are seven of the biggest challenges facing mainstream adoption of bitcoin, and what would need to happen for consumers to start using the digital currency on a large scale.

Expensive asset managers today are struggling to deal with the twin challenges to their traditional business model: low-cost, passively-managed index funds, and the online robo-advisors that help retail investors optimize the allocation of their assets between those funds.

One of the biggest challenges in banking is trying to keep up with the changes in digital technology, consumer expectations and governmental regulations. Innovation leaders from U.S. Bank and BBVA shared insights into how they maintain a 'first mover' advantage.

The investment Banking Industry is in the state flux. Digital revolution, increased regulation, and seismic shifts, the industry is now aware of the threat that they have been trying to stay ahead. Everyone knows the era of transformation has been underway for over a decade now. Technology now serves as Value proposition in Capital Markets Industry.

Chatter about the impending death of checking accounts reached a feverish pitch recently when Acting Comptroller Keith Noreika said he would support issuing banking charters to non-bank companies like Amazon, Walmart and Facebook. President Trump’s nominee to permanently head the OCC, Joseph Otting, is a former banking executive, so Noreika’s opinions might not amount to much.

I just recently completed a short overview of the evolution of digital wealth management space. In this timeline, I focus almost solely on the emergence and development of robo-advisors and various other forms of automated wealth management.

Four questions to ask when considering new lending technology solutions.

This massive gallery includes over 100 photos of 14 different branch projects from banks, credit unions and building societies around the globe — ideas and inspiration you can use for your next branch design project. Please note: The gallery is divided into three separate pages. Use the page numbers below to navigate to each page. You can click on any image to enlarge it.

Banks and financial services institutions are preparing for a shake-up, with the new payments services directive (known as PSD2) coming into force in a matter of months. The rules are set to transform the payments and banking industries, bringing exciting new opportunities for fintech, along with strict new requirements and responsibilities. Here, we outline the key changes to be aware of.

January 2018 isn’t just the deadline for PSD2’s adoption into national laws and regulation, it’s also the compliance deadline for the EU’s revamped ‘Markets in Financial Instruments Directive’ — otherwise known as MiFID II.

Dear FCC Chairman Ajit Pai: As you recently announced, the Federal Communications Commission (FCC), under your leadership, soon will release rules to dismantle your agency’s existing “net neutrality” protections under Title II of the Communications Act

Enhance the visibility of your ICO when you learn what it takes to get the press needed to take your brand’s public profile to the next level in this industry.