In the transition from in-person advice from financial planners, to a fully #robo experience available at your fingertips, there is (at least) one step in between: the cyborg model. In the world of financial advice, a hybrid advisory system, which combines fully automated algorithm-driven advice and certified (human) professionals, seemsRead More
Bank Innovation
Luis Carranza, founder of #Fintech Worldwide and organiser of London Blockchain Week discusses #Blockchain and Distributed Ledger #Technology (DLT) in 2017
There’s been a lot of talk about blockchain over the past year. Sometimes I think back to when I opened the first Blockchain Conference back in 2015, and the look of bewilderment on people’s faces as #they tried to get their heads around my chosen focus. ‘Don’t you mean #bitcoin?’ they used to say.
But the distributed ledger technology that was initially overlooked as the underlying tech that facilitated bitcoin transactions soon rose to prominence and is now being discussed at a global level by key players and not just in the financial sector. Investors, developers and entrepreneurs have recognised the versatility of Blockchain and its potential for greater transactional speed, security and simplicity.
As the relationship between countries fragments, blockchain will take a leading role in financial services, notably cross border payments and trade finance, and leading concepts that have been in the making will see the necessary investment that lifts them off the page and into fruition. The planned revisions to PSD2 in 2018 will undoubtedly lead to stronger relationships between #banks and fintech start-ups over the coming year.
Closer to home, the UK government will take centre stage as the driving force behind blockchain development. This year saw Credits awarded the first G-cloud blockchain platform-as-a-service agreement by the government – a major step forward in public sector acceptance of the technology.
Luis Carranza, founder of Fintech Worldwide and organiser of London Blockchain Week discusses Blockchain and Distributed Ledger Technology (DLT) in 2017
There’s no doubt more UK government funding will be pumped into blockchain, in a report on the subject, the Government Chief Scientific Adviser, Sir Mark Walport, wrote: “distributed ledger technology has the potential to redefine the relationship between government and citizens in terms of data-sharing, transparency and trust,” which accurately sums up the benefits for wider society, from healthcare to pensions.
Something that’s impossible to miss is the wide variety of sectors that blockchain is applicable to. Supply chain transparency and simplicity of asset transfer make it a popular point of focus for industries that rely on provenance, such as the diamond trade. To have an immutable ledger that traces the authenticity of precious materials all the way back to their inception is of obvious benefit and investors will no doubt be pouring money into platforms that confirm attribution and improve logistics.
Systems that cut out the middle men, streamline processes, cut costs and prevent fraud are of natural interest to sectors that count the pennies. With charities, large scale aid and infrastructure projects always see a percentage fall through the cracks. The digitisation of aid will continue as organisations like #UNICEF work on projects (e.g. Donercoin) to increase transparency in global aid.
Additionally, the creative industries, historically underfunded and plagued by complex revenue streams, will look to the support of big names to promote blockchain as a means for ensuring artists are paid fairly and digital content is accurately measured and attributed to the right parties, taking blockchain into the mainstream.
2017 is set to be a year of many uncertainties: Article 50 & Brexit, global markets, Trump… but the one thing that you can be sure about is that fintech will play a big part in helping to overcome some of the bigger obstacles that we face, and London will lead the way, as it always has, with innovation and expertise in developing new technology.
Blockchain Week kicks off with the Hack-The-Block Blockchain Hackathon at Launch 22. Followed by a two day conference at The Grange Tower Bridge Hotel. The first day will focus on Crypto/Bitcoin/Public Blockchain, while the second day will focus on Blockchain/DLT in hybrid and public ledgers. Get 20% Discount With Code: &8220;FTSW&8220;. Register NOW!
The post Diamonds, UNICEF and The Music Industry, What Do They Have In Common? appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
For many, #credit cards are the first step in the journey of building up a credit history. Then come loans, and credit limits, and payment schedules, and credit requests – in short, a credit #score roller coaster. To help with the confusion, JPMorgan #Chase’s card services division launched a newRead More
Bank Innovation
The Commercial #Bank of #Dubai (CBD), announced late in November that it is launching “CBD Now”, Dubai’s #first #digital-only bank. They aim to target millennials and digitally connected customers early in 2017.
Peter Baltussen, CEO of Commercial Bank of Dubai said, “The launch of CBD Now during 2016 UAE’s innovation week is a timely example of how CBD supports the vision of the UAE government to develop innovation and drive client happiness.”
Digital-only Banking allows customers to totally change how they manage their finances. They can now use smart #technology to fulfil all their banking needs. CBD will offer customers a technologically smart, and seamless mobile bank, personalised to enable them to perform all their usual financial services from anywhere via their smartphone. So whether it’s managing your current accounts, savings accounts or credit cards that you need, this new development will serve you well.
This news comes hot on the heels of Emirates NBD’s announcement in June that they would be investing Dh500million (US$ 136million) in digital banking systems. Mindful of the fact that the bank is losing its appeal with Millennials, this move is aimed squarely at younger customers.The bank’s Chief Executive, Mr Shayne Nelson said, “We are making a commitment to the future with our digital transformation plan.”
The move into digital banking, globally, has seen huge benefits for #banks and customers. For customers there is a huge improvement in convenience and speed of service, whereas these systems also make cost savings for the banks. There are approximately 800 million customers now using mobile banking systems worldwide. This number is expected to increase to over 1.9billion by the year 2019, according to a report by the auditing company KPMG.
The UAE has a young and affluent population, which is driving the move to digitisation. According to a recent Google study, its 9.2 million population has the highest penetration of smartphone use in the world, at about 70 per cent. Traditionally here, cash has always been king, with credit cards often shunned by young affluent people. However, the ease of use of digital banking is starting to capture the imagination.
EY GCC Digital Banking Report 2015 found that half the banks they surveyed have budgeted between US$ 5 million and US$ 20 million for digital initiatives. These included automation, channels, customer journeys and new technologies etc. Furthermore they found that many of the larger banks were demonstrably willing to spend even more. Possible even more exciting was the fact that banks saw this as a rebirth, rather than an incremental approach to modernisation. Digital-first, a Sharia-compliant retail bank in Saudi Arabia, more than demonstrated this.
The island kingdom of Bahrain is also moving swiftly to keep up. A number of state bodies including the Central Bank of Bahrain (CBB) are involved in looking at ways in which to develop its #fintech sector. Areas of interest are: Islamic finance, in which in which Bahrain has strong global standing; crowdfunding; payment services; online wealth management service (#robo-advisors); and #blockchain.
Moving forward, CBD Now Co-founders programme being #launched in the near future involves enabling pioneering customers to provide input into building the bank of their dreams. Murray Sims, General Manager Personal Banking Group at Commercial Bank of Dubai, said, “We believe our customers have a lot of know-how when it comes to banking services. Customers can assist during the piloting phase to influence product development and refinements before rolling out the brand to the public.”
Things are really hotting up in the digital banking sector within the Emirates.
The post First Digital Bank Launched in Dubai appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
Citi #Fintech kicked off its one-year anniversary this November through the #launch of its #Global API #Developer Hub, a platform that has developed 49 #APIs across eight usage categories #after just one #month of availability. “This was our foray into an open-innovation approach, which is something we’re seeing a lotRead More
Bank Innovation
Say you managed to teach a millennial to save, what now? Teach them how to start investing. Managed that too? #Next step: make them get a #retirement account. “There is a big opportunity, and customers are asking for it,” Brandon Krieg, CEO and co-founder of mobile investing platform Stash, toldRead More
Bank Innovation
#Christmas is coming and if you are a #fintech junky, you might want to ask your friends, boss and relatives for one (or more) of the following fintech #books.
These books, which have all been released in the past six months, cover every aspect of fintech from digital payments, mobile #technology to #blockchain and Big Data.
For books that were released earlier, you can check #this article or have a look on our Fintech Book Page.
by Jeff Reed
Blockchain: Blockchain, Smart Contracts, Investing in Ethereum, FinTech by Jeff Reed combines four of his best-selling books, all covering blockchain technology and fintech. These are:
Blockchain: The Essential Guide to Understanding the Blockchain Revolution
Blockchain is far more than #Bitcoin technology, and even in its infancy, it is taking the world by storm, from major #banks to the U.S. Department of Defense. This book is a comprehensive guide to blockchain, helping you understand what it is and why it matter.
Smart Contracts: The Essential Guide to Using Blockchain Smart Contracts for #Cryptocurrency Exchange
This book explains the fundamentals of Smart Contracts and how they work. The practical uses of Smart Contracts are enumerated in this book and you will also learn how you can make your own Smart Contracts in the Ethereum system. You will also get tips on how you can make your Smart Contacts easy to understand and user-friendly. This book also covers some of the myths surrounding smart contracts and the reasons why they exist.
Investing in Ethereum: The Essential Guide to Profiting from Cryptocurrencies
This book explains the reasons to invest in Ethereum and not just because of the potential ROI, but also the benefits of cryptocurrencies in themselves. The overall risks, obstacles, and major changes in Ethereum will also be addressed. There are over 1,000 cryptocurrencies that currently exist, it’s important to choose wisely and understand everything you can if you’re going to be putting real money into the blockchain.
FinTech: Financial Technology and Modern Finance in the 21st Century
This book will introduce you to the basics of FinTech and equip you with the knowledge to get on the cutting edge of age we live in today. It covers the impact of fintech on the global economy, the payment ecosystem, fintech solutions in the business-to-business sector, fintech and investing, and much more.
by Jacob William
The term “FinTech” is shrouded a mystery, even to more tech-savvy individuals. Since it’s such a new innovation, much about it, as well as where it’s heading is still unknown.
In FinTech: The Beginner&8217;s Guide To Financial Technology, Jacob William explains what FinTech is, why it matters to everyone, future predictions about it, possible dangers, and its origins and history.
This book will give you the information you seek in a digestible and easy-to-follow format. No prior knowledge of technical subjects is necessary because understandable examples are given throughout.
Learning more about something that is so prevalent in our society is undeniably beneficial whether you are a business owner, technology enthusiast, or just a curious layman.
by Richard Hayen
We’re in the middle of the FinTech revolution, and it’s a big one. Everything that we know about the world of finance is changing before us. Innovation is constantly happening. FinTech: The Impact and Influence of Financial Technology on Banking and the Finance Industry is going to help you get up to speed on all of the change that’s happened and the things that are important right now.
This book is going to teach you about several things, including the fintech sector and its impact on traditional banking, on the global economy, and on the world at large.
It will teach you about cryptocurrencies such as bitcoin, blockchain technology, #robo-advisors, peer-to-peer lending, crowdfunding, but also about the state of FinTech and where it is heading.
by Oscar Flynt
Blockchain: 4 Manuscripts—Blockchain, Fintech, Investing in Ethereum, and Smart Contracts combines four of Oscar Flynt’s books covering blockchain technology, fintech, Ethereum and smart contracts:
Blockchain: The Ultimate Guide to Understanding the Hidden Economy
Blockchains are changing everything from banking, shopping, peer-to-peer exchange, and our daily lives as a whole. Those who learn blockchain and how to utilize them will have a preemptive jump on their competition. You’ll discover how to use them, their shortcomings, all about smart contracts, and much more.
FinTech: Understanding Financial Technology and its Radical Disruption of Modern Finance
This book covers everything from future trading, online banking, conducting business, daily living, and much more. You’ll discover the exciting opportunities that await in the coming years and how you can capitalize on them.
Investing in Ethereum: The Ultimate Guide to Learning—and Profiting from—Cryptocurrencies
Ethereum is one of the most profitable and promising platforms to trade cryptocurrency on to date. In this book you’ll learn all about this amazing platform, how to trade on it, how set up smart contracts, and how to program the right software to use it.
Smart Contracts: How to use Blockchain Smart Contracts for Cryptocurrency Exchange
Smart contracts are speculated to lower legal disputes, re-structure banking and finance, and change the way people shop and make money forever. This book will teach you how to create them.
by John Waupsh
Community banking can flourish in the face of fintech and global competition with a fresh approach to strategy. Bankruption: How Community Banking Can Survive Fintech offers a survival guide for community banks and credit unions searching for relevance amidst immense global competition and fintech startups.
Author John Waupsh is the Chief Innovation Officer at Kasasa, where he helps spearhead financial product development and implementation across hundreds of institutions.
In this guide, he draws on more than a decade in the industry to #offer clear, practical advice for competing with the megabanks, direct banks, non-banks, and financial technology companies.
by Mark Jobs
FinTech, or financial technology, a financial technology service industry, is defined as “innovation in financial services” by National Digital Research Centre. With $ 138 billion market opportunity in the United States, FinTech has become a hot topic for entrepreneurs, visionaries and investors. However, with it&8217;s rapid growth, little in-depth information can be found regarding to FinTech, especially the relationship between FinTech and wealth management.
Fintech: Financial Technology Beginner Guide CherryTree Style aims at demystifying fintech, providing a comprehensive overview of the industry, the impact of fintech in different sectors, the leading fintech players, among other things.
by Tony Scott
Blockchain: Blueprint to Dissecting The Hidden Economy!- Smart Contracts, Bitcoin and Financial Technology provides informative and easy tips that will let you know everything you need to know about the hidden economy and how to capitalize on this amazing technology.
The book covers blockchain technology, smart contracts, fintech, among many other topics.
It breaks training down into easy-to-understand modules and starts from the very beginning of blockchain, so you can get great results – even as a beginner.
by Tolga Tavlas
Developing a digital banking presence is a daunting task, especially when you consider the financial resources and education needed to achieve telephone, online, mobile, and other digital banking capabilities.
Digital Banking Tips: Practical Ideas for Disruptors! 2nd Edition is a quick and easy read that provides you with tips that are simple to implement, and which will help you through the process.
Even if your company has been offering digital banking services, this book can help you build out that part of your business further by assisting with areas such as identifying users&8217; needs, increase usage, improve systems, multi-channel business needs, among other topics.
by Timothy Short
Blockchain: The Comprehensive Guide to Mastering the Hidden Economy provides you everything you need to know about blockchain technology including how it was created and where it is likely to be headed in the near future.
You will also learn how to tell if a blockchain distributed database can replace your current database as well as how to create one and common mistakes to avoid while doing so.
In this book, you will find:
by David Shrier (Author), Alex Pentland (Editor)
Financial technology innovation has exploded in the popular consciousness, and promises a radical transformation of the global financial services industry. Over US$ 20 billion is expected to be invested in fintech projects in 2016.
MIT Professor Alex Pentland is joined by fintech intrapreneur and educator David Shrier in curating an exploration of several major trends and technologies that are changing the face of financial services.
Co-authors include Deven Sharma, the former President of S&P, and Alex Lipton, the former head of quantitative analytics for Bank of America Merrill Lynch.
From blockchain to artificial intelligence, this series of articles helps the reader grapple with this exciting area of technology innovation.
by Seth Ramsey
Blockchain is a revolutionary technology that was created for bitcoin, but has since found a wide variety of other applications from ecommerce and retail, to securing health care records, to maintaining all kinds of important databases.
Chances are your life has already been impacted by a blockchain database. The influence of blockchain continue to grow exponentially in the coming years, leading some people to call it the greatest technological revolution since the internet.
Blockchain: Quick Start Guide to Understanding Blockchain, the Biggest Revolution in Financial Technology and Beyond Since the Internet provides a quick start to understanding how blockchain technology works. The book explores the opportunities and challenges related to distributed ledgers and what&8217;s to expect in the future for the technology.
by Luke Sutto
Fintech: Financial Technology &8211; 2 Manuscripts &8211; Bitcoin & Blockchain combines two books:
Bitcoin Trading &8211; A Complete Beginner&8217;s Guide
Bіtсоіn Trаdіng: A Beginner’s Guіdе to a Strategic Trading & Invеѕtіng offers іnѕіghtѕ into this vital subject mаttеr rеlаtіng to financial іndереndеnсе. Thіѕ book рrеѕеntѕ an exploration into thе іntrісаtе but profitable wоrld оf Bіtсоіn trаdіng thrоugh аn еxрlісіt аnаlуѕіѕ оf the nіttу-grіttу as wеll аѕ expounding on its mоduѕ operandi ѕо as tо bеttеr еduсаtе trаdеrѕ аnd investors аlіkе оn thе bеѕt роѕѕіblе wауѕ tо mіnіmіzе thеіr rіѕkѕ whіlе аt the same tіmе, rеwаrdѕ аrе bеіng mаxіmіzеd.
Blockchain &8211; A Complete Beginner&8217;s Guide
Bitcoins as a game changer have virtually set people&8217;s imagination into flight. Bitcoins are based on the blockchain technology. Increased exploration of the further uses of blockchain technologies have showed that there is immense promise in blockchain technologies.
The post 12 New Fintech Books To Offer This Christmas appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
With the holiday season in full swing it seems #fintech investors are spreading the cheer. From fare-predicting apps to e-commerce to real estate, fintech had a good week. Below are our top fintech #funding #rounds of the week: #Hopper Montréal-based airfare predicting app Hopper just raised $ 62.2 million in aRead More
Bank Innovation
If you followed the seven-hour biennial #Starbucks Investor Day conference (as I am sure most of you did) earlier this month, you got an earful of the latest updates in the Starbucks world, including updates to its ingenious mobile app. The app, which now has more than 20 million members,Read More
Bank Innovation
One of the things that we’re doing with #Anthemis Institute and the Fellowship is working on how we can contribute to improving the existing #ecosystem. The aspiring entrepreneur today, that wakes up one day and says, “I’d like to do this,” has a much, much richer, environment and ecosystem toRead More
Bank Innovation
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