FinTech Weekly Magazine
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MiFID II Compliance: Putting Communication into ContextIt is not hyperbole to say that the second Markets in Financial Instruments Directive (a.k.a. “MiFID II”) will have a profound impact on the operations of financial institutions that distribute and trade financial instruments in the EU. In fact, this legislation, which seeks to protect investors by significantly raising the standard for transparency on investment houses, will likely confound even well-intentioned trading organizations doing their best to comply with the directive, much like we are seeing with the EU's General Data Protection Regulation (GDPR).
May 10th -
5 Important Lessons Learned About Fintech from an Industry InsiderThe FinTech revolution has become a worldwide movement in just a few years, with no sign of slowing down anytime soon. Global FinTech investments in 2015 were over double that of total investments made in 2014, indicating a surge in interest among different countries to become the FinTech capital of the world.
May 10th -
The Big Pay-Off Of Advanced Analytics in BankingWhy should my bank start making data-driven decisions? It’s a common question many bank executives are asking as they see the competition leveraging customer data to improve service, better segment, mitigate risk, enhance marketing messages, and drive new business opportunities.
May 3rd -
Do Regulatory Questions Threaten the Rise of Fintech?In the past few years, investment in the Fintech sector has been exploding. In fact, between 2013 and 2014, Fintech investing tripled to grow to more than $12 billion per year. This investing is mainly due to the rapid innovation that is happening in the sector.
However, despite the enormous possibility for growth of Fintech, the industry is now facing one distinct challenge; increased government regulation.
May 2nd -
2043: The year Britain will turn cashless- Current rate of decline in cash means UK could be completely cashless by 2043
- Two-thirds (68%) of Brits avoid businesses which only accept cash
- However, expert suggests British government is not ready to commit to being cashless
Apr 26th -
PSD2: The Implications for Banks and Online BusinessesOn 8 April 2015, Jamie Dimon, Chairman and CEO of JP Morgan, wrote to shareholders with the following caution: “Silicon Valley is coming”. This warning is often cited by those predicting the “imminent demise” of traditional banks and the rise of “FinTech”. But, fast-forward two years and Rome has not burned. The big banks are still here, and whilst FinTech continues to disrupt and challenge the financial services sector, the companies that have pioneered FinTech do not dominate the sector and the traditional banks seem pre-eminent as ever. The banks and FinTech have come to realise that they need each other. FinTech can improve bank customer participation and experience, whilst Banks can give FinTech the missing component to their businesses - users.
Apr 26th -
Why technology-enabled Fund Administrators will become a bigger force with Family OfficesThe recent and unprecedented spike in the number of millionaires in the US has spurred the creation of ever-more Family Offices (FOs) as people of wealth are turning to Single Family Offices (SFOs) and Multi-Family Offices (MFOs) to help them manage their wealth. Many of these offices offer a full suite of solutions including investing, budgeting, insurance, charitable giving, tax & legal services, and more.
Apr 23rd -
Digital Finance Platform Innovation and the Effect on LendingOver the past few years, we've come to realize that lending is no longer constrained to the doors and floors of a bank. Now, with the power of digital platforms, we can lend and borrow through online companies at the swipe of a smartphone. This freedom has significantly impacted the lending and banking as industries, most notably the ability of individuals to obtain loan products. And this is great for consumers and financial institutions alike. In this article, we want to explore how peer-to-peer lending increases the adaptability of financial systems around the world.
Apr 10th -
Internet of Things & Financial Services – The Future is Already HereWe are all familiar with taking a wrong turn or missing a turn altogether while driving and have the GPS navigation system holler at us about recalculating the distance and then suggesting an alternative route. Might that have sounded a little fanciful in the 1980s when people were still relying on printed maps to navigate?
Apr 10th -
Apr 9th
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How the Future of Work Will Impact FintechOver the past decade or so, the workforce in the United States has been going through some major changes. One of the most significant of these changes has been the rise in popularity of freelancing. In 2005, only 10% of the workforce was made up of non-traditional employees like freelancers and independent contractors. In 2016, however, 16% of the workforce is made up of these alternative workers. By 2020, it is predicted that up to 40% of the workforce may be freelancers.
Apr 8th -
The Open Ecosystem – How Banks Can Keep Pace with Fintech DisruptorsMerchant banks and acquirers have hit a vendor-shaped wall. The lack of choice in payment terminals is crippling banks who are currently at the mercy of the hardware vendors, and are unable to offer a payment device that meets the needs of their modern merchant customers. For years, there has been no route around for banks and acquirers, but now a pioneering concept is set to put the power back into their hands.
Apr 3rd -
New Kids on the Block: Where Fintech Meets Sharing EconomyThe sharing economy continues to grow and disrupt entire industries.
A recent report published by the Brooking Institute concluded that the sharing economy would become a major part of the global economy.
Apr 3rd -
Don’t compete with Fintechs; Build your business on top of themThe financial industry is not new to innovations. As the human civilizations became more and more sophisticated, there was a need to create new financial products to serve the ever-evolving requirements of these complex societies. Technology in the financial sector is also not new and is around for a few decades now. Machine readable cheques, automated data processing, automated teller machines and electronic payment systems made banking easier, accelerated innovations and gave rise to various new financial products in the second half of 20th century. But the proliferation of Fintechs in last decade or so has been driven mainly by the advancements in software and internet. Given that financial services are made up of non-tangible goods (unlike automobiles, oil, housing, pharmaceuticals etc.), the financial services industry is most vulnerable to the disruptions in information technologies.
Mar 20th -
The problem with FintechEveryone wants a piece of the $100 trillion pie. I can rattle off a list of 50 payments companies you’ve never heard of and never will. Companies that do millions of dollars in transactions a day. Everyone has a different niche, a different value proposition - more security, less personal data storage, more rewards, less fees – whatever. You want to pay with the palm of your hand? Yeah, there’s an app for that too. And there’s nothing wrong with any of this. Competition fuels technological progress, and the payments space is in desperate need of progress. Progress to eliminate the pain, cost, and time spent dealing with traditional payment processes.
Feb 15th
