The FINTECH Book by Chishti, Susanne -- Read -- Imperial Library of Trantor

Index

Cover Epigraph Copyright Title page Preface About the Editors Acknowledgements 1 Introduction

Banking and the E-Book Moment

The Shifting Financial Landscape An Unfinished Revolution The Challenge to the Banks The Utilities Risk The Future for the Banking Sector Notes

Why We’re so Excited About FinTech

How Did it all Begin? More than a Fuss: What Does FinTech Bring? FinTech in the Developing World: Starting from Scratch Banks, Beware! Disrupted, Reimagined Notes

Current Trends in Financial Technology

Regulation Supporting the FinTech Sector Wearables, Foreign Exchange (FX), Bitcoin, and Blockchain Trends Notes

2 FinTech Themes

Banks Need to Think Collaboration Rather Than Competition

Note

Global Compliance is Key

FinTechs Must Understand Each Local Regulatory Stack! The United States: A Single Market with Complex, Multi-level Regulations Europe: Still Complex but with Some Harmonized Regulations Asia: Remains Very Fragmented Payment Services are Globally Regulated Local and Global Compliance – Make, Buy, or Partner? Note

Lending (Capital) in the 21st Century

Data and New Technologies are the Key to Unlocking Credit Globally Lowering Costs, Increasing Transaction Frequency Change is Coming, Past a Bank Near You Notes

The Next Big Innovation in FinTech – Identity

If it Ain’t Broke, Don’t Fix it, Right? Note

Tech Giants Becoming Non-Bank Banks

Note

Design is No Longer an Option – User Experience (UX) in FinTech

UX DESIGN = Big Bucks A Definition for UX UX and FinTech An Example: Password Fatigue Seven Guidelines Conclusion Notes

3 FinTech Hubs

Nurturing New FinTech Communities

Lessons from a Leader Location, Location, Location

La (French) FinTech Connection

France’s International Centre of Excellence in Science and Technology France’s Entrepreneurial, Investment, and Tax Environments France’s Regulatory Environment for Innovative Financial Services France’s Strategic Business and Geographic Positioning France’s FinTech Start-ups Association Notes

The Journey Towards an Integrated FinTech Ecosystem – The Netherlands

Netherlands in 2014 Seizing the Opportunity The First Step Early Choices Business Model Governmental Relations Execution Challenge International Relevance

Luxembourg, a Future FinTech Hub? Vienna as the No. 1 FinTech Hub in Mobile Payments?

Specific Starting Basis for Mobile Payments What Does this Mean for FinTech Start-ups? Local FinTech-related Venture Capital Environment Conclusion: Unlocking the Potential

India’s FinTech Ecosystem

Innovation Areas A Collective Hub Notes

Singapore, the FinTech Hub for Southeast Asia

Drivers of FinTech in Singapore Singapore’s FinTech Ecosystem Success Stories Conclusion

4 Emerging Markets and Social Impact

FinTech: The Not So Little Engine That Can

Note

Why Am I Not Gonna Be Able to Enter a Bank?

Supply-side Factors Demand Factors Notes

The Rise of the Rest in FinTech

The Magic Cake What Goes Around Comes Around There is Something New Under the Sun What is Really Happening? Conclusion Notes

Smartphones, FinTech, and Education – Helping the Unbanked Reach Financial Inclusion

Enhancing User Experience New Product Development Education: Power to the People through Financial Literacy The Road Ahead Notes

The Social Impact of FinTech in Nigeria

Consumer Safety and Security Contributions to State Monetary Policies Support for Small Business and Entrepreneurs Business as Usual is a Thing of the Past

India and the Pyramid of Opportunity

Notes

5 FinTech Solutions

Rewiring the Deal – The Path Forward for B2B Supply Chains

Complex Commerce The Payment Problem A Broken System Dynamic Payments Notes

Payments and Point of Sales (POS) Innovation

The Three Pillars of a Financial Transaction Building Blocks of the New Bank Note

Predictive Algorithms – Building Innovative Online Banking Solutions

Background Private Customer Cash Flow Forecasts Research and Testing Thoughts on Business and Integration Applying Predictive Analytics to SMEs Conclusions Notes

Big Data is the Cornerstone of Regulatory Compliance Systems

In Banks, Big Data Implementation Has Been too Slow Could “Internet Big Data” Have Been Directly Applied to Banks? How Can Real-time and Consistent Data be Obtained from Big Data Technology? Big Data Technology is the Best Technology to Implement Compliance Systems Successful Project Implementation

FinTech Solutions in Complex Contracts Optimization Behavioural Biometrics – A New Era of Security

A Complex Balancing Act Behavioural Biometrics Security and Usability Pragmatism and Perception Notes

Ultra-Fast Text Analytics in Trading Strategies

Real-time Impact The News Impact Triangle Automatic Text Analysis Fundamentals Entity Identification, Wordings, and Indicators Events and Investment Decisions Sentiments and Opinion Mining Applications for Automated Text Analysis Innovative Technologies in the Financial Market – a Critical View Note

Regulated Crowdfunding Ecosystems Remittances – International FX Payments at Low Cost

“Digital Natives” and “Digital Immigrants” The Power of Remittances Millennial Outreach The Future of Banking Notes

FinTech Solutions for Small Businesses

Note

Payment Solutions Including Apple Pay

The Payments Ecosystem Energizer Effects Privacy Merchant Adoption Consumer Adoption Potential for Data Analytics Industry Economics Summary Note

FinTech Solutions Benefiting other Sectors

Notes

FinTech Innovation for Wearables

What is All the Fuss About? Wearables – A FinTech Solution? Everything You Always Wanted to Know About Wearables Endless Possibilities, but Within a Contactless Limit Notes

6 Capital and Investment

Investment and Capital – Back to Basics

The Finance Ladder Building an Investable Platform Note

Angel Investing – Access to “Smart Money” to Fund the Best FinTech Companies

Notes

Crowdfunding and Marketplace (P2P) Lending – Online Capital Marketplaces as New Asset Classes to Access Funding

Disclosure Paradigm as the Basis of Modern Global Capital Markets The Global Financial Crisis’ Aftermath of Regulations, Penalties, and Loss of Trust Conduct Risk as a New Core Focus of Financial Regulation and Supervision Trust and Regulating Rapidly Evolving Online Capital Marketplaces Professional Education for Advancement of the Online Capital Marketplace Ecosystem

The Digital Investment Space – Spanning from Social Trading to Digital Private Banking – A FinTech Sector Made for Disruption? Leading the Way with an Investor-led Approach to Crowdfunding

Notes

My Robo Advisor was an iPod – Applying the Lessons from Other Sectors to FinTech Disruption

“What is a robo advisor?” “Is robo technology truly disruptive?” “How do sustaining and disruptive innovation interact to shape the future of banking?” “What does this tell us about the fate of wealth management?” “Will banks be extinct or will they transform?” Note

Crowdsourced Alpha

The Need for New Data What is Crowdsourced Alpha? Example 1: Crowdsourced Earnings Estimates Example 2: Alpha Capture Example 3: Financial Bloggers Note

To Crowdsource a Hedge Fund Providing Capital and Beyond

The Great Digital Divide Large-scale Revamping of Education and Training Growth Financing and Exit Opportunities Note

7 Enterprise Innovation

Can Banks Innovate?

Sponsors with Sway Engaged Stakeholders Confidence of Customer Buy-in Business Case Note

So, You Think the Innovation Lab is the Answer?

Foundations People Methodology Resources Governance Innovation “Consumption” Note

FinTechs and Banks – Collaboration is Key

Collaborating Makes Sense for Both FinTechs and Banks Needs for a Collaboration Different Banks, Different Benefits Into the Collaboration – Avoid Frictions Why Collaborate at All? Outlook Note

Partnerships Are the Key to Addressing Financial and Digital Exclusion

The Financial and Digital Inclusion Imperative About Us Our Digital Transformation Our Digital Future Collaborative Partnerships are the Key to Digital and Financial Inclusion The Opportunity to Work Together Note

Corporate Venture Capital – The New Power Broker in the FinTech Innovation Ecosystem

CVC and the Opportunity for the FinTech Ecosystem Accelerating Open Innovation in FinTech Setting up for Success FinTech CVC – Lessons to Live By Note

The Insurance Opportunity

Distribution Big Data New Entrants A Note on the Digital Insurer Note

8 More Success Stories

eToro – Building the World’s Largest Social Investment Network

Building the Network Scaling the Network Breaking the Banks Note

Avoka – An Overnight Success, 13 Years in the Making

PIVOT 1 – Customer Experience, not Business Process Management PIVOT 2 – Mobile, the Game-changer PIVOT 3 – Cloud Computing Comes of Age PIVOT 4 – Focus. Focus. Focus. Lessons Learned

Bankable – Banking as a Service

Note

The Next Chapter in Citi’s Story of Innovation

The Onset of FinTech The Path to Acceleration Creating the Citi Mobile Challenge What’s Next? Note

FinTech Trends from the Frontline – Building Collaborative Opportunities for Start-ups, Market Infrastructures, and Wholesale Banks

9 Crypto-currencies and Blockchains

Note FinTech + Digital Currency – Convergence or Collision?

Crypto-currency Meets Digital Finance and Mobile Value Exchange The Internet of Money: A Radical New Business Model Digital Asset Management and Value Exchange Hybrid Digital Finance Platform Convergence Digital Currencies and Mobile Transactions Interoperability – The Integration Challenge (and Opportunity) Notes

Blockchain and Crypto-currencies

How Does Digital Currency Work? Bitcoin 2.0 and Future Trends Notes

10 The Future of FinTech

How Emerging Technologies Will Change Financial Services

Many Opportunities for FinTech Are Yet to be Explored Global Insurance Premiums Will Amount to US$800 per capita in 2020 The Future of FinTech Largely Depends on Five Game-changers Notes

The Future of Financial Services

The Future of Financing The Future of Identity The Future of Money The Future of Saving and Consumption The Future of Financial Literacy

Banking on Innovation Through Data

From Financial Product Vendors to Solution Providers The Data Revolution is Here So, How Can Banks Best Leverage Their Data Advantage? The Future of FinTech: A Tripartite Innovation Ecosystem Notes

Why FinTech Banks Will Rule the World

Note

The FinTech Supermarket – The Bank is Dead, Long Live the Bank!

The FinTech Supermarket Financial Regulation Millennials Coming Soon to a Town Near You!

Banks Partnering with FinTech Start-ups to Create an Integrated Customer Experience

Partnering, a Core Competency in the Digital Age, is all about Data Add Value at the Customer Experience Level Big Brand plus Start-up Agility is a Winning Combination The Great Rebundling Notes

The Rise of BankTech – The Beauty of a Hybrid Model for Banks

Notes

FinTech Impact on Retail Banking – From a Universal Banking Model to Banking Verticalization

FinTech: The Rise of New Generation Banking? Vertical Segment #1: Transactional Services Vertical Segment #2: Investing Vertical Segment #3: Financing Vertical Segment #4: Cross-software Platforms Will FinTech Succeed? How Should Banks Respond? Notes

Embracing the Connected API Economy

The API Economy: Helping Financial Services Companies to Build Better Products The Business Value of APIs The Rise and Rise of APIs Everything is Connected to Everything Else Getting Started Understanding APIs The Business Value of APIs for the Financial Services Industry API Business Models Drivers of the API Economy How to Join the API Economy: Start Small, Start Now Existing Middleware is not the Answer Note

Banking Like Water

The Middleman Problem The End of Money The End of Capitalism? Robots Take Over No Apple Bank Around The Digital Natives Challenge Banking as a Service What is Wrong with Water? Notes

Eliminating Friction in Customers’ Financial Lives

Catching Up to the Future Notes

FinTech is the Future Itself

1st Stop: The Survivors 2nd Stop: The Cashless Beggar 3rd Stop: The Self-Pay Store 4th Stop: The Metropolitan Museum of Plastic Cards 5th Stop: The Password Memorial 6th Stop: The Global Financial Regulatory Council Headquarters 7th Stop: The FinTech City Note

A Future Without Money

Challenger Economic Model #1: Power is Money Challenger Economic Model #3: Reputational Currency

Ethics in FinTech?

Notes

List of Contributors Index EULA

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