Fintech News Issue #54 February 10th, 2016

[...] To talk about where and how innovation is fostered, Brett is talking to Bank Innovation Editor, Philip Ryan and Fiserv’s Matt Wilcox to talk about their new accelerator, Bank Innovation INV and why the space needs a different voice than what is out there now.

I’ve been presenting the idea for a while now that banks are not being disrupted or unbundled, as so many claim. It’s a nice idea but completely misunderstood.

In a new report Intelligent Assets: Unlocking the circular economy potential, the World Economic Forum and Ellen MacArthur Foundation discuss the possibilities of the internet of things as an enabler of the circular economy. In this extract Nicolas Cary, Co-Founder of Blockchain, explores the financial technology that will bring the vision to life.

Financial markets are in turmoil and many economists are miserable about growth prospects. But tell this to the fintech world. The outlook for mobile banking has never been brighter.

[SPONSORED] This 15-page whitepaper provides cutting-edge insights into retail banking analytics. Europe’s leading analytics professionals from large retail banks, challenger banks and fintechs discuss key topics in the industry.

Chris Skinner identifies and explains the differences between those who think fintech, and those who think techfin. [for Part 2 search BankNXT]

The cashpoint, the core convenience innovation in traditional banking in the late 20th century, is being superseded by the rising popularity of money transfer from local outlets and new apps that enable device to device cash transfers worldwide.

A year ago I published my predictions for the payments landscape in 2015 on my linkedin profile [...] I will publish a summary on how they fared when more statistics are available for 2015, but in the meantime, here are listed my predictions for 2016.

Recently, the financial and non-financial worlds have been psyched about the impact of FinTech on our everyday life. There is a FinTech startup somewhere for almost any bank service nowadays, taking away the cash cow little by little from the club of monopolists.

FinTech companies around the world have now reached the potential of substituting almost any service from the banking value chain. The legitimate question to be raised then is: if there is a startup for each service a bank provides, do we really need banks?

As customers get used to intuitive, seamless and secure experiences from the likes of Amazon, Google or Apple, banking is being challenged to deliver compelling customer experiences that meet increasingly sophisticated expectations.

Aspiring fintech entrepreneurs take note: Having a great idea is one thing, getting it off the ground is another. Thomas Beattie, CEO of Vancouver-based startup Voleo, offers his advice.

The positive impact of a strong digital offering has pushed satisfaction levels for the largest banks above all other sized organizations for the first time ever.