Pulse: Technology


The Banking Drama

This week, the banking drama unfolds in three acts:

I.   Payments Possibilities
II.  Regulatory Ruminations
III. Lending Lessons

I. Top 10 trends in retail payments

Crypto Currents

The original plan for this issue was to cover the main trends from last week's Money20/20 conference and get a sense of how banking, payments, and FinTech have evolved over the last year and what the year ahead looks like.

Collaboration: Blockchain

Collaboration between banks and FinTech startups came to focus as financial media expanded on the need for collaboration, and a blockchain summit provided some cogent examples.

"Since 2016, there has been a significant move from banks fearing start-ups and start-ups wanting to disrupt banks, to start-ups and banks working together in harmony," writes Chris Skinner in "FinTech Collaboration."

Two Banking Conferences

Two Banking Conferences Last week I split my time between two conferences focused on banking and FinTech: two very different worlds that have more common than not, as this series of quotes show.

Legacy Challenges

As a follow up to last week's newsletter, Breached, the Equifax breach likely will have regulatory effects on FinTech that go beyond the credit-scoring business itself. In an ironic but not unsurprising development, legacy institutions questioned new technologies in relationship to legacy problems.

Breached

The Bank for International Settlements (BIS), often described as the central bank for central banks, recently published its take on FinTech. The BIS's Basel Committee on Banking Supervision's report, "Implications of fintech developments for banks and bank supervisors," handily summarizes the changing face of banking:

FinTech Waves

This week's headline comes from a Bernard Lunn Daily FinTech column, in which he charts three "waves" of FinTech development. Those waves fit my own experience, though some of the milestones I would have picked are different. Click on the chart below to read the article.

I spent a lot of time this week looking at bank websites. That, too, was a look back in time.

No doubt that colored the links I picked. I see in them the tension between the entrenched technology of the past and emerging tech of the future.

FinTech Investment Soars

Global surveys covering second-quarter 2017 FinTech investments are coming in, and the results bode well for the development of the FinTech ecosystem.

Payments Power

The payments sector of the FinTech ecosystem heats up this month. Recent developments in the largest and most mature FinTech sector include release of the final report of the U.S. Faster Payments Task Force, major consolidation among worldwide payments processors, and reports of high growth in person-to-person (P2P) payments.

What FinTech Means?

"When you think of FinTech, do you think of it more as a product or a service?" It was a question asked by a member of the audience at the Incubate Illinois FinTech panel sponsored Wednesday by the Chicago law firm Freeborn & Peters. It occurred to me that I take it for granted professionals in finance and technology understand what FinTech means.

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