Fintech News Issue #94 November 24th, 2016

This week: Banks stealing ideas from fintechs, where we are heading in the next few years and which changes fintech will undergo as it matures.

Conferences? Check! More great articles? Check! Podcasts and Videos? Check! An, of course, a few noteworthy news in the ticker.

– Michael and the FinTech Weekly team

Top Stories

    FINANCIAL technology (Fintech) is really catching on, and last week, Singapore just hosted the biggest Fintech convention in the world. Amid the expected rah-rah, there were a fair number of banking executives who were walking around with shark-eyes.

    What's Next for Fintech?
    by Nikolai Kuznetsov

    Thus far, growth in the Fintech sector has been exponential, but that has largely been the result of many years of under-development and a general absence of regulatory hurdles.

    The fintech sector is being shaped by shifting market conditions, new regulations, and changes in consumer demands and behaviors.

Top Conferences

    Join Mobile Payment Systems & Security in Singapore – Protect applications, infrastructure, devices & cloud services against threats & hackers Thanks to big moves by Apple, Samsung, Google and others, the world of mobile payments is rapidly evolving.

    The Biggest B2C Mobile Event in America for Mobile Product, UX/Design and Mobile Marketing Executives. Digital product, mobile marketing, UX and Design executives will meet at the Open Mobile Summit on November 29-30 in San Francisco.

    The iiFintech Symposium and Awards honors the winners of Institutional Investor’s Tech 50, Fintech Finance 35 and Trading Technology 40 annual rankings. Join us on December 1st in New York City.

FinTech Articles

    In 2012, Bruno Iksil, a trader known as the “London Whale,” lost $6.2-billion for JP Morgan. While the underlying reasons why are complicated, one of the contributing causes was that the bank’s value at risk was being manually calculated through spreadsheets.

    Giant financial conglomerates were at the epicenter of the global financial crisis. The U.S., United Kingdom and European Union provided more than $10 trillion of capital infusions, guarantees and emergency loans to stabilize their financial systems and rescue failing megabanks.

    Challenger banks start from a pretty grim position – most of them don’t have any customers. So how are they scaling? Well, whatever they do, it’s important they consider the word scale from both a backend operational perspective and a frontend on-boarding perspective.

    The innovative insurance solutions that start-ups are building around the Internet of Things (IoT) show the huge potential of this important technology. They also indicate how insurers will need to change to become successful in future.

    With the current election season sparking yet another conversation about how government can better monitor our elections and deliver secure services, emerging blockchain technologies may provide a solution.

    An infographic stating ten reasons why fintech is important.

    Brexit has dented the attraction of fintech start-ups in Europe.Investors are reining back their spending in the face of possible barriers to the single market and to hiring top engineering talent.

    One of marketers’ favorite buzzwords these days is the “consumer journey.” With more ways for consumers to engage than ever before, people can now interact with brands on their own terms and at their convenience. In other words, they chart their own journey.

    Payments company Dwolla recently surprised much of the fintech world by announcing it was stepping back from the consumer business to focus on its B2B, API-based model. Or maybe it wasn’t so surprising.

Podcasts & Videos

    The film features digitization experts who have a Switzerland-specific angle on FinTech, which gives a glimpse into how the traditional bankers' nation is coming to terms with technological change and plans to catch up in FinTech.

    Lee Vecchione, Director, Cash Management Corporates Sales, Deutsche Bank, discusses how an increasingly positive regulatory environment and banks’ embracing of the sector are driving US fintech growth, the excitement for cash managers about the intersection of fintech segments payments and marketplaces, and how the fintech scene will look by 2020.

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