FINTECH Book

SUSANNE CHISHTI is the Founder and CEO of FINTECH Circle and the FINTECH Circle Institute, the leading peer-to-peer learning platform providing in-person and online courses across fintech enterprise innovation, wealthtech, insurtech, artificial intelligence and blockchain applications in finance, crypto-currencies and startup methodologies. As Co-Editor of the global Bestseller The FINTECH Book, she has been selected as a "City Innovator - Inspirational Woman" in 2016 after working for 14 years across Deutsche Bank, Lloyds Banking Group, Morgan Stanley Investment Management and Accenture in London and Hong Kong.JANOS BARBERIS is a Millennial in FinTech, recognised as a top-35 global FinTech leader. He founded FinTech HK, a thought leadership platform, and the SuperCharger - a FinTech Accelerator that strategically leverages on Hong Kong as a gateway to Asia. In parallel, he sits on the advisory board of the World Economic Forum's FinTech Committee and is a PhD Candidate at Hong Kong University Law School.

"... in summary, we have a handbook with an amazingly wide number of contributors, covering an extensive range of financial technology subjects, in the most absorbing and thought provoking way. It is amazing that this book has come to market at all, and our understanding of the future of our world is well served for the fact that it has done so." (BCS, July 2016) "For the layman and the investor... there is plenty to learn from and dip in and out of." (Economia, May 2016) "Fantastic project worth reading and sharing... the crowdsourced format makes it a strong instrument and resource for professionals and organisations worldwide." (Open Business Council, March 2016)

• Preface viiiAbout the Editors xAcknowledgements xii1. Introduction Banking and the E-Book Moment 6Why We’re so Excited About FinTech 10Current Trends in Financial Technology 132. FinTech ThemesBanks Need to Think Collaboration Rather Than Competition 20Global Compliance is Key 22Lending (Capital) in the 21st Century 25The Next Big Innovation in FinTech – Identity 28Tech Giants Becoming Non-Bank Banks 31Design is No Longer an Option – User Experience (UX) in FinTech 343. FinTech HubsNurturing New FinTech Communities 42La (French) FinTech Connection 45The Journey Towards an Integrated FinTech Ecosystem – The Netherlands 48Luxembourg, a Future FinTech Hub? 51Vienna as the No. 1 FinTech Hub in Mobile Payments? 53India’s FinTech Ecosystem 56Singapore, the FinTech Hub for Southeast Asia 584. Emerging Markets and Social ImpactFinTech – The Not So Little Engine That Can 66Why Am I Not Gonna Be Able to Enter a Bank? 69The Rise of the Rest in FinTech 72Smartphones, FinTech, and Education – Helping the Unbanked Reach Financial Inclusion 75The Social Impact of FinTech in Nigeria 78India and the Pyramid of Opportunity 815. FinTech SolutionsRewiring the Deal – The Path Forward for B2B Supply Chains 88Payments and Point of Sales (POS) Innovation 92Predictive Algorithms – Building Innovative Online Banking Solutions 95Big Data is the Cornerstone of Regulatory Compliance Systems 100FinTech Solutions in Complex Contracts Optimization 106Behavioural Biometrics – A New Era of Security 109Ultra-Fast Text Analytics in Trading Strategies 112Regulated Crowdfunding Ecosystems 117Remittances – International FX Payments at Low Cost 120FinTech Solutions for Small Businesses 123Payment Solutions Including Apple Pay 125FinTech Solutions Benefiting other Sectors 128FinTech Innovation for Wearables 1316. Capital and InvestmentInvestment and Capital – Back to Basics 138Angel Investing – Access to “Smart Money” to Fund the Best FinTech Companies 141Crowdfunding and Marketplace (P2P) Lending – Online Capital Marketplaces as New Asset Classes to Access Funding 144The Digital Investment Space – Spanning from Social Trading to Digital Private Banking – A FinTech Sector Made for Disruption? 147Leading the Way with an Investor-led Approach to Crowdfunding 149My Robo Advisor was an iPod – Applying the Lessons from Other Sectors to FinTech Disruption 152Crowdsourced Alpha 155To Crowdsource a Hedge Fund 160Providing Capital and Beyond 1627. Enterprise InnovationCan Banks Innovate? 170So, You Think the Innovation Lab is the Answer? 173FinTechs and Banks – Collaboration is Key 179Partnerships Are the Key to Addressing Financial and Digital Exclusion 183Corporate Venture Capital – The New Power Broker in the FinTech Innovation Ecosystem 186The Insurance Opportunity 1908. More Success StorieseToro – Building the World’s Largest Social Investment Network 196Avoka – An Overnight Success, 13 Years in the Making 198Bankable – Banking as a Service 201The Next Chapter in Citi’s Story of Innovation 203FinTech Trends from the Frontline – Building Collaborative Opportunities for Start-ups, Market Infrastructures, and Wholesale Banks 2069. Crypto-currencies and BlockchainsFinTech + Digital Currency – Convergence or Collision? 212Blockchain and Crypto-currencies 21710. The Future of FinTechHow Emerging Technologies Will Change Financial Services 226The Future of Financial Services 229Banking on Innovation Through Data 232Why FinTech Banks Will Rule the World 235The FinTech Supermarket – The Bank is Dead, Long Live the Bank! 238Banks Partnering with FinTech Start-ups to Create an Integrated Customer Experience 241The Rise of BankTech – The Beauty of a Hybrid Model for Banks 245FinTech Impact on Retail Banking – From a Universal Banking Model to Banking Verticalization 248Embracing the Connected API Economy 253Banking Like Water 258Eliminating Friction in Customers’ Financial Lives 261FinTech is the Future Itself 264A Future Without Money 267Ethics in FinTech? 270List of Contributors 273Index 291