Fintech News Issue #150 January 11th, 2018

Kicking off 2018 in style on Fintech Insider David and Simon were joined by colleagues Andra Sonea and Benedict Shegog to tackle the latest news for the week, and look ahead to what 2018 has in store. And what does it have? Regulation, mostly.

Blockchain and identity management are not only a natural fit, but will also be an increasingly important part for online businesses in the future. AI and Blockchain will play crucial roles in customer onboarding and provide better conversion for businesses and more security for all parties involved.

Last year proved to be another exciting ride on the FinTech rollercoaster. We reached out to over 30 experts from leading brands including Ant Financial, Citi, Ripple, Santander, Starling Bank, Visa and Western Union to share their insights on the biggest fads of 2017, lift the lid on their biggest fears, and unveil the most exciting opportunities for 2018.

The rules of the road apply to banks as well. Always look what’s coming ahead otherwise you will be run over. Admittedly, it is much easier to only look at what’s there today and not use it to anticipate what is around the next corner.

Sure, fine, maybe it’s a bubble. OK it’s definitely a bubble, but that’s a good thing, a bubble brings attention and investment in infrastructure, which breeds real innovation. Right? Look at the dot-com boom.

The 2018 Retail Banking Trends and Predictions report provides an excellent analysis of what the industry believes will occur in 2018. But, what do banks and credit unions need to do immediately to benefit from upcoming trends?

The world has seen tremendous interest in blockchain across industries and countries, from thousands of new startups, to blockchain labs popping up in commercial and federal organizations, to a number of consortia established looking to solve their industry’s biggest challenges.

The term “future shock” – referring to a society that is evolving so rapidly its members can’t keep up – is nearly fifty years old, having been coined in 1970 by author Alvin Toffler.

Surfing through the web back in October, I stumbled upon an odd but genuinely fascinating contraption: a Russian cryptocurrency miner that leverages the heat it generates from stacking Ethereum to keep your room warm.

Financial marketers must understand the latest artificial intelligence and machine-learning marketing applications to succeed. Not only do consumers expect a new level of personalized communication and engagement, but revenue and cost pressures require a more efficient marketing mix with improved results.

2017 was the year insurtech stepped up. Many insurance-focused startups were funded from 2014 to 2016 – but they truly came to market in 2017. This was the year that saw some of the first big acquisitions, like Guidewire acquiring Cyence, major market expansion from brands like Lemonade, and conferences devoted to the sector seeing big attendance gains.

Banks are energized by financial technology companies' innovation, but remain cautious when pulling the trigger on M&A.

Even if your bank or credit union isn't ready to deploy chatbots, virtual assistants, artificial intelligence (AI) or innovations involving the Internet of Things (IoT), the importance of data and advanced analytics capabilities has never been greater.

There's been a lot of noise over the past year around whether fintech firms — or, more seriously, Silicon Valley behemoths like Amazon and Google — are going to make a run at owning a bank.

Global technology consultancy DataArt expects to see a handful of financial technology (fintech) trends that emerged in 2017 to strengthen significantly in 2018.

What will future bank products look like? A combination of micro products and personalised advice will be the future model, says Chris Skinner.

RegTech 2018 – What can we expect from Regulatory Technology in the new year, what are the challenges and which innovative technologies will have the biggest impact? PlanetCompliance takes a look into the crystal ball with a little help from three of the most influential people in RegTech.

This year's the Digital Banking Report from Jim Marous is a record-setting 106 pages based on a crowd-sourced panel of 100+ financial services influencers combined with the results from a global research study of financial institutions. It identifies the key trends and strategies that will have the greatest impact during 2018.