This week in Fintech: Cutting the Bloomberg Cord, which Wall St jobs will be taken over by robots, a pro-Brexit bank CEO, and CBS’s “60 Minutes” outlines fintech for prime time viewers…
Morgan Stanley Survey: Bloomberg Terminal is here to stay (Business Insider)
Despite recent hype around Symphony, a Bloomberg competitor created by Goldman Sachs, traders aren’t giving up their beloved Bloomberg Terminals. The main hurdle to cutting the cord? Strong network effects from Bloomberg Instant, the instant messaging function that connects traders across firms. Related: Skip, Dip & Dive: Bloomberg Did It First
Robots Will Strike Asset Management Firms First (Bloomberg)
According to a CFA Institute survey of 3,000 financial analysts, Wall Street is worried about fintech taking its jobs. When asked which financial services sectors should expect the most transformation from tech, 54% of analysts chose asset management, followed by banking with 16%, and Securities with 12%.
Brexit good for UK Fintech (Finextra)
Here’s one Fintech influencer with a different viewpoint: Chris Gledhill, the CEO of Secco. A Brexit won’t hurt London’s Fintech scene. Britain’s regulators were better off before the EU began intervening with their own laws and inefficiencies. To quote Gledhill directly, “The EU is a burning platform and it’s time the UK got off.”
Fintech: What “60 Minutes” Left Out (PYMNTS)
Stripe, Square, Wealthfront and SoFi appeared on CBS’s “60 Minutes” last Sunday, providing another reminder that Fintech has gotten *so* mainstream lately. Not surprisingly, industry thought leaders weren’t satisfied with the story, which was tailored to prime time viewers. Here’s what CBS got wrong about payment technology.