This week in FinTech: how regulation paved the way for FinTech after 2008, a few doomsday predictions, and why conversational commerce will be hot in 2016.
The FinTech Boom And Bank Innovation (Forbes)
Heavier regulation after the 2008 financial crisis has paved the way for big innovations in banking. Today, it’s holding back FinTech Startups and delaying innovation in the sector.
One of the creators of Schwab’s robo-advisor, Schwab Intelligent Portfolios, is switching over to work at Morgan Stanley as Digital Officer of Wealth Management. Morgan Stanley joins Citigroup and other large banks in appointing managers to focus heavily on digital offerings.
Bank FinTech Accelerators are Destined to Die (American Banker)
Innovation labs at big banks allow startup-style collaboration in a corporate setting, and are crucial to staying relevant. But can the banks justify the long term investment?
Has FinTech Boom Peaked? (The Wall Street Journal)
FinTech venture funding slowed in Q4 2015, in line with the rest of the tech sector. Has the boom peaked? Seeing how much is left for innovation, we think not.
Conversational Commerce is the use of chat & messaging for business services & company interaction. A good example is calling an Uber from Facebook Messenger, which launched in 2015. It’s only a matter of time until this trend reaches FinTech as well.