FinTech News Issue #37 October 13th, 2015

Jochen and I had four companies and three guests with us today. Together with bank account change providers Finreach, fino and dwins, we tried to investigate the topic. We talked to> Matthias Eireiner from fin reach, Florian Christ from fino.digital, and Benjam and Alexander Michel from dwins.

As the tech disruption takes hold of the financial industries, banks are exploring fintech by supporting accelerators, partnering together, and creating new ways to replace legacy systems. Today, Brett has Dave Birch of Consult Hyperion join the show.

Chris Skinner reveals the winners and finalists of the Global Banking Innovation Awards at BAI Retail Delivery 2015, including the most innovative banks.

Banks and other financial institutions have been ramping up their innovation efforts over the past few years: launching funds to invest in start-ups, backing a growing number of accelerator programmes and appointing chief innovation officers.

The finance industry is at the start of an unprecedented period of disruption as a result of digital innovation. A new wave of finance entrepreneurs is starting to shake up the industry status quo, and established industry giants are already responding by embracing digital innovations of their own. What does the future hold for incumbents and new entrants?

It is childish to believe in Unicorns and entrepreneurs have to be childish – meaning they have to believe they can beat the odds. Thank goodness for that, for the odds are stacked against startups succeeding and yet some do succeed spectacularly, benefitting everybody.

Payments processor Worldpay is investigating the use of facial recognition technology to help combat card fraud in the U.K., the company recently announced in a press release.

Rewards are arguably the key driver in mobile payments. That’s because: 1) swiping a card is as easy as tapping a phone, though dipping a card may be another matter; and 2) mobile payments in the U.S. basically means Starbucks.

Machine learning is a type of artificial intelligence that provides computers with the ability to learn without being explicitly programmed. The science behind machine learning is interesting and application-oriented. Many startups have disrupted the FinTech ecosystem with machine learning as their key technology.

Well, not an app exactly, but a program — patents, winning lots of patents.

As the haze descended on Singapore, banking delegates at the international Sibos conference were peering into the potential of digital identity as a source of new revenues.

[STATISTICS] The top banks using social media ranked by their overall Power 100 score for the third quarter of 2015.

The LTP team recently had the pleasure of interviewing Bobbi Leach, the CEO of FuturePay, a payment option that enables consumers to shop online without a credit card.

Ever since I have been blogging on the topic on mobile payments over the past few weeks, the themes around "mobile commerce","mobile payments" and "mobile wallets" continue to be a topic of discussion with my professional associates and in my personal networks.

The virtual world created certain new customs. Decision-making has been heavily influenced by the digitalization and this is, of course, also true for bank marketing.