Unfortunately, these days making (a) change stands for making money more often than for making a difference. When it comes to companies, the system is flawed, this behaviour is fuelled by the investor ecosystem who want a quick return and now stripping company’s objectives down to bare basics – profit. Become profitable ASAP (then more profitable) and then worry about everything else. But how many companies have worried about something else after their successful exits? Facebook is trying, so did Google but the majority didn’t. The scariest thing that only businesses used to operate like that, now, seemingly, governments are stripping down their objectives to basic economic performance discarding human values as a secondary priority. Let the invisible hand do the rest? I’m deeply concerned with this approach.
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Making a Difference with FinTech – Three Examples
By Elena Mesropyan
There is enough said about the scale of the FinTech industry, its inclusive agenda and massive surrounding ecosystem, but the real value of this industry is not in millions that are moving around in funding, expansion and acquisition deals. The value is measured in micro-processes, in the real, everyday difference FinTech startups make for small businesses and individuals. One of the most important hallmarks of the FinTech community is its focus on solving cumbersome operational problems, allowing business leaders to recalibrate resource allocation (talent, financial resources) to deliver value to their clients rather than to simply remain afloat in a highly competitive market.
The Passporting Gambit
By Pascal Bouvier
Apparently, Trump’s has suggested The US-UK passporting system and I quote the Telegraph: “A deal to reduce barriers between American and British banks through a new “passporting” system was considered by Mr Trump’s team…”. How easy would it be to build a financial services passporting system between the US and the UK. Fairly easy on the UK side given there is only one financial regulator, the FCA. Less so on the US side given we are dealing with several federal regulators (the OCC, the Federal Reserve, the FDIC, the CFPB, FinCen to name the main ones) and 50 state regulators on the banking side, as well as 50 state examiners on the insurance side.
11 FinTech Trends You Need To Follow
By Chris Skinner
Chris Skinner offers a breakdown of fintech trends we ought to be following, including insurtech, regtech and artificial intelligence. The first few weeks of 2017 bombarded us with articles predicting the future of fintech and financial services. I’ve now analysed them all and identified the top 11 trends that the leading banking and fintech experts agree we should be following now.
The Future of Chatbots
By Jim Marous
Artificial-intelligence-powered chatbots work in real-time and provide personalized and contextual answers to customer questions. It can tell your current account balance, transfer money to a friend, pay a bill, and report recent spending activity. It will eventually be more equipped to provide know you, look out for you and reward you with the benefits of deeper learning and timely advice. Last but not least, the bot will work on the messaging services and integrate with the personal assistants that customers are already using. Facebook Messenger, Amazon’s Echo as well as WeChat, Siri, Cortana, Slack, Line, Kik, and other platforms will all be supported.
Also published on Medium.