Fintech News Issue #99 January 5th, 2017

It's that time of year again! Our news feeds are filled with articles and blogs predicting the year ahead. But if there's one thing I enjoy more than reading everyone's predictions for 2017, it's going back to December 2015 and reading everyone's predictions for 2016 to see how they've done!

If you are in Finance, you would have read at least one of the many predictions articles that poured from all directions on the internet in the past month. This is not trying to be yet another one but focus on the CX angle of one of them.

There is no doubt that 2017 is set to be another exciting year for FinTech as 2016 draws to a close, paving the way for more forward thinking and disruptive innovations.

Join us for our 6th edition worldwide, in an exclusive and intimate exploration of the hottest developments in decentralization, FinTech, disruptive tech, startups and culture, the sharing economy and the future of work.

In a research project commissioned by the Digital Banking Report, it was found that fintech influencers are significantly older than the employees at most high tech companies. Does it matter?

What if 40% of corporate profits were generated by an industry still fundamentally reliant upon a technology introduced over 140 years ago by Alexander Graham Bell? This disruption of financial services is the focal point of the fintech revolution, integrating digital technology for the modern economy and investor.

The price of FinanceCoin created a new record high of US$5.15 yesterday since the digital currency’s first debut launch in 2013. This is amidst the backdrop of global world economies contend and cope with impending economic uncertainty.

Our whole money system exists on the principles of Trust and Efficiency. If there is no trust, why would anyone exchange a piece of paper (or accept electronic money) for the stuff we buy. They do so because they trust that they can use this money further to run their business or buy other things.

Ashley Madison users have already unwittingly encountered a great deal of bots, but in 2017 they are going to become more prevalent – and more transparent to the user, according to U.K.-based Juniper Research.

When you think of today’s banks and financial institutions, you typically think of concepts like cash and credit scores. However, the banks of the future won’t exchange cash, or even digital money. And, for many Millennials, credit scores will replaced by a system of social credit via the Blockchain.

I kept yesterday’s blog entry short because I knew that today’s was long, and it’s a guest blog entry from my good friend Jim Marous. Jim produces a great report each year, curating the thoughts of 100 industry leaders including myself, on what is going to happen in the year ahead. Summarizing this year’s report, Jim writes:

In this CoinDesk 2016 in Review feature, CoinDesk contributor Corin Faife recaps developments in bitcoin's biggest technology debate.

Often, bankers complain about competition from technology startups that are not overseen by any governing body (yet). Why aren’t they regulated? The lack of regulation is why they move so fast / create products that we haven’t / attract millennials / whatever! It’s just not fair!

As 2017 kicks off, we’ve taken a look back at the key trends in the fraud and data breach space over the past year – what we learned and what’s to come in 2017.

The financial technologies (FinTech) revolution, which has the potential to disrupt traditional financial services and banking systems in most jurisdictions, is likely to see the cutting of costs and an improvement in the quality of financial services.