Fintech News Issue #167 May 10th, 2018

What does it take to develop a winning strategy for insurance customer engagement in the age of connected technologies? Zurich, Ageas, Fidelidade and Generali gave us the answers.

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Regtech startups are saving firms billions in regulatory fines and displacing manual risk and compliance with cutting-edge technology.

Digital Human is Chris Skinner’s third book about digital banking, which in this volume he has placed in a larger historical, evolutionary, geographic and even archeological context.

E-commerce merchants expanding into a new market must be able to accept local payments — or risk rejection by consumers

It’s all about the…: These days, for consumer fintech companies in wealth management (we will call them fintechs for short), it is, to paraphrase Meghan Trainor, all about the millennials.

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.

#WomeninFinTech are leading the way; InsurTech Rising spoke with Shruthi Rao of Adapt Ready about her experiences in the tech industry, and when she realised her “lightbulb moment”.

Lenders set up to take on the dominance of the established market leaders are joining forces or becoming acquisition targets.

The idea of artificial tends to strike fear in the hearts of workers who suspect they’ll be replaced by robots.

Banks turning to digital channels should consider the message of a new J.D. Power retail banking survey: Build it and they will come, but if using it is too much work, they'll head elsewhere.

In any sector, regulators are viewed as the watchdogs of their respective industry. Recent regulations in the financial industry were aimed to favour consumers’ interests often to the disadvantage of businesses.

Former FT Weekend editor Andy Davis speaks to the former Lending Club boss about his vision for online lending 2.0.

Regulatory “sandboxes” for financial services are now becoming more widely adopted, but they are not without controversy.

The transformation in banking includes the ability for financial marketers to embrace new technologies to maximize results. At the forefront of this transformation is the use of data and artificial intelligence (AI) to improve targeting, messaging and ROI.

The clock is ticking on traditional institutions who must leverage data better or players from outside banking will become the primary providers of financial services.

I have several friends in the FinTech world whose views I respect, and one of those is Steve Lemon, a co-founder of Currencycloud. He recently sent me this viewpoint, which I think is worth sharing. Enjoy!

The inescapable conclusion from the financial services royal commission is that governance in banking and parts of the wealth management sector is broken.

The universe of banking and payments is ever evolving. 2017 has seen a number of significant changes in the payments industry, thanks to advances in technology. Consumers now have access to a myriad of ways to pay.

It’s hard to believe AI can interact with people this naturally.