Digital Transformation of Financial Services
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Two Digital Banks Launch in a Single Day | Bank Innovation

Two Digital Banks Launch in a Single Day | Bank Innovation | Digital Transformation of Financial Services | Scoop.it
Today seems like a good day to launch a digital bank. At least, that's what two banks decided this week. This morning, Barcelona-based CaixaBank launched
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The Challenger Bank Playbook: How Six Challenger Bank Startups Are Taking On Retail Banking

The Challenger Bank Playbook: How Six Challenger Bank Startups Are Taking On Retail Banking | Digital Transformation of Financial Services | Scoop.it
Challenger banks. What are they? Who's who? And why have these startups raised hundreds of millions in venture capital to take on bank incumbents? We break the core strategies, levers, and enablers that these startups are using to establish distribution and convert and engage millions of customers.
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Turning AI into Concrete Value: The Successful Implementers’ Toolkit | Resource

Turning AI into Concrete Value: The Successful Implementers’ Toolkit | Resource | Digital Transformation of Financial Services | Scoop.it
What concrete benefits are organizations really seeing from AI today? Our comprehensive research provides insights direct from the market on the real-life benefits, the best use cases, and where to invest - a successful AI implementers’ toolkit.
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The Digital Culture Challenge: Closing the Employee-Leadership Gap

Is company culture a roadblock or a catalyst for digital transformation? Does the big moment for an organization arrive when they have embraced the fact that t…
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Breaking Banks: Removing Mystery of Money Movement

Why does it cost so much to move money? If every record is computerized, if all the movement is recorded electronically, then why are there fees to get money
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Winning firms will redefine the role of customers | Capgemini Consulting Worldwide

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SoFi Is Building the ‘Banking Model’ of the Future

SoFi Is Building the ‘Banking Model’ of the Future | Digital Transformation of Financial Services | Scoop.it
Relationship-banking is top-of-mind for financial institutions, but in many cases, that does not translate into real actions. That’s according to Mike
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PSD2 Jargon Buster! The EPC created an infographic about PSD2, describing all players

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PSD2 Jargon Buster! The EPC created an infographic about PSD2, describing all players
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Just one in five banks and insurers confident they could detect a cybersecurity breach | Press release

Just one in five banks and insurers confident they could detect a cybersecurity breach | Press release | Digital Transformation of Financial Services | Scoop.it
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Chart: Bank Executives Not Aware of Key Fintech Startups

Chart: Bank Executives Not Aware of Key Fintech Startups | Digital Transformation of Financial Services | Scoop.it
Here's further proof that bank executives live in a bubble: the majority of execs are unaware of the very key fintech startups that seek to replace them.
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11 fintech trends you need to follow | BankNXT

11 fintech trends you need to follow | BankNXT | Digital Transformation of Financial Services | Scoop.it
Chris Skinner offers a breakdown of fintech trends we ought to be following, including insurtech, regtech and artificial intelligence.
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Making the Digital Connection: Why Physical Retail Stores Need a Reboot

Shopping in physical stores offers consumers something unique and valuable compared to the digital domain: a social experience and a tactile experience. But, o…
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How Asia Now Rivals Silicon Valley as New Home to Global Innovation Centers | Resource

How Asia Now Rivals Silicon Valley as New Home to Global Innovation Centers | Resource | Digital Transformation of Financial Services | Scoop.it
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Banks Close In on Real-Life Blockchain Use Cases | Bank Innovation

Banks Close In on Real-Life Blockchain Use Cases | Bank Innovation | Digital Transformation of Financial Services | Scoop.it
Blockchain is at a bit of a critical point, because it’s running up against the one universal enemy all new technologies have to face eventually: reality. In reality, how will banks use the blockchain? “To do the real thing, it takes time, effort and expertise,” says Alex Wolff, head of product strategy for London-based Misys Financial Software, a firsm serving global banks. “There is [some] blockchain whitewashing going on; your chances of funding are actually greater if you call [your project] a blockchain.” Wolff took part on a panel held during the recent Misys Connect Forum held in NYC, where the topic at hand wasn’t the potential of blockchain but rather looking past the hype described above. This is not as much of an exaggeration as it was in previous years; an example that might more closely show the industry’s feeling on the technology might be Sibos, where one of the areas of competition this year in Geneva was blockchain. Regarding when blockchain would really start to filter into what one might call the banking “mainstream,” Charles Cascarilla, CEO and co-founder of blockchain solutions firm Paxos told Bank Innovation: If 2015 was the year of discovery, then the next two years will focus on banks and blockchain startups identifying specific asset classes as use cases and developing proofs of concepts...Looking 3 to 5 years into the future, we could see greater integration of blockchain technology into mainstream capital market infrastructures with new, exciting financial blockchain use cases certain to emerge over time. More and more banks, payment processors, startups, and entrepreneurs have started fiddling with the technology and running proof-of-concepts and tests, and they’re starting to narrow down what problems in finance blockchain is best suited to solve, and maybe more interestingly, what problems it isn’t. One of the best examples brought up by the Misys panel is money transfer. Blockchain could certainly be used to make those systems, especially here in the U.S., free and instantaneous. However, countries like the U.K. already have free and instantaneous money transfer on systems which do not run on a blockchain. “A lot of this has been driven by the technologists,” says Wolff. “People forget that the workflow actually consists of a lot of insider knowledge [of banking].” Narrowing down the actual use cases for blockchain in finance could take years all on its own, and then financial services will have to figure out how to actually implement the technology by overcoming roadblocks in regulation, security, existing banking infrastructure, developing banking infrastructure—in other words, by overcoming the present landscape of the financial world. So what needs to be done? Some of the areas it might be best suited for, according to Cascarilla, are lowering the cost of compliance, operational processes, capital allocation, and risk management. In order to do that, firms need to start planning out their blockchain strategy now to be in a position to collaborate and test. Says Cascarilla: It would be a mistake for banks to wait to plan a blockchain strategy. Even if the strategy is to do nothing for now, major technology investments with a longer-term adoption timeline like blockchain technology need to be reviewed against potential market developments and company’s needs. Committing modest resources to understand the technological landscape, market conditions and your specific needs now is much more affordable than playing catch-up later. We are talking about a lot of work—though of course that doesn’t mean it can’t be done. “Innovation always has to fight against inertia,” says Wolff, adding that the emergence of blockchain technology will be slow and gradual; an “evolution” versus “revolution.”
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Bank accounts could disappear within 15 years according to one of Deutsche Bank's most senior execs

Bank accounts could disappear within 15 years according to one of Deutsche Bank's most senior execs | Digital Transformation of Financial Services | Scoop.it
"That would be a game changer to what we're doing," Deutsche's co-head of corporate and investment banking said at a conference in London.
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Open Banking is coming. Here's the very first glimpse

Open Banking is coming. Here's the very first glimpse | Digital Transformation of Financial Services | Scoop.it
The winners of Nesta's £5m Open Banking prize include several well-known fintechs
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World Payments Report 2017 | Developments in the Global Payments Landscape

World Payments Report 2017 | Developments in the Global Payments Landscape | Digital Transformation of Financial Services | Scoop.it
The 2017 World Payments Report, from Capgemini in collaboration with BNP Paribas, brings a preview into global payments landscape, which is the leading source for data, trends and insights on global and regional non-cash payments, and the key regulatory and industry initiatives (KRIIs) that govern them for banks and corporate customers.
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Global non-cash transactions continue on a growth spree.
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The Digital Culture Challenge: Closing the Employee-Leadership Gap | Resource

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The Currency of Trust: Why Banks and Insurers Must Make Customer Data Safer and More Secure

Are banks and insurers a safe pair of hands when it comes to customer data? Our global survey of more than 180 senior data privacy and security professionals –…
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PSD2: Screen Scraping vs APIs?

PSD2: Screen Scraping vs APIs? | Digital Transformation of Financial Services | Scoop.it
This article dives into the current state of the debate on the communication interface that should be implemented by banks to be compliant with the PSD2 framework.
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Blockchain’s brilliant approach to cybersecurity

Blockchain’s brilliant approach to cybersecurity | Digital Transformation of Financial Services | Scoop.it
Hackers can shut down entire networks, tamper with data, lure unwary users into cybertraps, steal and spoof identities, and carry out other devious attacks by leveraging centralized repositories and single points of failure.
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The Currency of Trust: Why Banks and Insurers Must Make Customer Data Safer and More Secure | Resource

The Currency of Trust: Why Banks and Insurers Must Make Customer Data Safer and More Secure | Resource | Digital Transformation of Financial Services | Scoop.it
Are banks and insurers a safe pair of hands when it comes to customer data? Results from our global survey of more than 180 senior data privacy and security professionals – as well as 7,600 consumers
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Millennials Expect (Way) More from Mobile Banking

Millennials Expect (Way) More from Mobile Banking | Digital Transformation of Financial Services | Scoop.it
Recently we released the results from our global survey of more than 700 millennials about their mobile banking experiences. 92% of respondents confirmed they use their devices for mobile banking more than other services including on-line shopping. In addition, many also revealed key complaints that need to be addressed in order to satisfy this crowd … Click to continue…
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The Catch-22 of banking | BankNXT

The Catch-22 of banking | BankNXT | Digital Transformation of Financial Services | Scoop.it
There are no challenger banks, says Chris Skinner. It's a Catch-22 situation, and there are statistics to back up his theory.
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Top 10 Blockchain Headlines of 2016 | Bank Innovation

Top 10 Blockchain Headlines of 2016 | Bank Innovation | Digital Transformation of Financial Services | Scoop.it
Blockchain—possibly the buzziest of buzzwords in 2016. The world saw the rise of new enterprise blockchains, how the technology might be used to transport gold, to safely move perishable items like pork through a supply chain, and most importantly for those of us in the fintech trenches, we saw banks, payment providers and other financial institutions start to sit up and explore what blockchain could mean for money transfers, global trade, insurance, and identity. Of course that’s not to say the technology didn’t have its pitfalls—hacks, hash fails and hampered code, oh my—but even so, this was a big year for blockchain. So as 2016 draws to a close, let’s take a look below at the top blockchain stories on Bank Innovation. KYC May Be the Next Big Thing for BlockchainNow that blockchain finally has the attention of FIs, what’s the next use case? Developing the tech for the KYC (Know Your Customer) Process is a good option, according to this post. Deloitte Taps Blockchain Startups to Build New Core Banking System Five blockchain startups teamed up with accounting titan Deloitte to create a brand-new core banking system in May of this year. Update: Santander Follows Goldman’s Lead, Drops from R3 Blockchain GroupAlong with a host of other banks Banco Santander chose to depart from the R3CEV blockchain consortium, though that did not appear to lessen the FI’s interest in the technology. Goldman Sachs Leaves Blockchain Group R3CEV But Stays in BlockchainThe first big bank to leave R3CEV, Goldman’s decision came as a bit of a surprise—but like Santander, it dropped R3 but not blockchain. Move Over Blockchain, It’s AI’s Time to ShineBlockchain may have had a good year, but so did artificial intelligence—however, the two may be best when combined. Can Blockchain Fix Security and Identity, Consumer’s Top Concerns?Could blockchain help validate a user’s identity while keeping the transaction secure? Rideshare Looks to Blockchain for Truly Decentralized Sharing EconomyBlockchain and ridesharing—two other things that might yield their best results when mixed a little. What’s Next for Blockchain and Roboadvisory Funding?Roboadvisors and blockchain companies both received a fair amount of funding in 2016—this post explores what’s next. Banks are Getting Closer to Real-life Blockchain Use CasesFIs became more and more intrigued with the technology as time went on, but we actually started to see more pilots and tests as the year progressed. In Blockchain News: R3 Releases Corda, Chris Larsen Talks Ripple, IRS Might Tax Bitcoin And to think, all of the above only happened in one week. What will happen with blockchain next year?
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Which Dutch FinTechs are challenging the incumbents?

Which Dutch FinTechs are challenging the incumbents? | Digital Transformation of Financial Services | Scoop.it
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Which Dutch FinTechs are challenging the incumbents? We have updated the 'Dutch FinTech Landscape'-infographic (version 1.2). Enjoy, share and provide Pascal Spelier (https://www.linkedin.com/in/pascalspelier?authType=name&authToken=hpmf&trk=hp-richmedia-name) with missing Dutch FinTechs.
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