Ireland has become a hub of technological innovation as big tech, fintech and big financial services companies set up shop in country as an alternative to the UK; “Ireland has always been quite an innovative country; it has to be because it is such a small market, you can’t just lean on the Irish market to produce a decent fintech business.” says Sinead Fitzmaurice, co-founder of TransferMate, to the FT; talent from Google and Facebook have not only started their own companies but have also moved into finance giants like Deutsche Bank; low corporate tax rates combined with the tech talent has help the country become an emerging fintech market. Source.
Big tech's dominance over the tap-to-pay sector may be stifling innovation through rules imposed by digital wallet leaders.
Open banking and data aggregation have quickly become two of the biggest trends in financial services; Europe and UK regulators...
Voice recognition and machine learning technology are combining to offer consumers new services across various industries; in financial services ING has invested $945 million in a digital technology initiative that plans to include voice automated banking services through devices such as Amazon Alexa and Google Home; Amazon Alexa is now working with many financial services clients for voice integration including UBS, LPL, Fidelity, Capital One and Betterment; this week it was also reported that Wal-Mart will partner with Google to offer customers voice directed ordering through Google Home on Google Express. Source
A case study at the Harvard Business School was presented as part of the executive MBA program on the bank’s digital strategy; Goldman CFO Marty Chavez recently stated “Goldman is for risk what Google is for search”; the move to becoming a tech company is not easy as other areas of the bank do not see the same benefits; Goldman is clearly on the front edge of innovation in banking today. Source.
2019 saw a number of big moves from big tech companies when it came to financial services and 2020 is...
Financial services firms have been anticipating when some of the biggest tech firms, Google, Facebook, Amazon and Apple, will fully...
As more financial services firms beginning using Google, Amazon and Microsoft for cloud based services regulators are starting to take...
One of the first posts I ever wrote on Lend Academy back in 2010 was about mulling the idea of...
Finance is everywhere, and everywhere is finance. Smart city supply chains, self driving car insurance, video game real estate markets -- no matter which frontier technology you touch, it will have embedded implications on the delivery of financial services. And why wouldn't it? Like the use of language, finance is a human technology that allows societies to coalesce and compete with one another (in the Yuval Harari sense). It lifts people out of poverty and into entrepreneurship through microloans, providing generational sustenance for their families. And of course it also throws them into pits of corruption and greed, as they drink too deeply from the rivers of securitization and political power.
But enough poetry! I want to talk about augmented reality, attention platforms, and the re-formulation of payments and lending propositions in a global context.