It is not your opinion, you’re just dead wrong

I usually try to confine my blog to industry related subjects within finance, technology and innovation. But every once in a while I feel that am faced with such great levels of ignorance that I an unable to restrain myself. With all the information in the world only a few keystrokes away, one should imagine that the ability to distinguish rumors, gossip, propaganda and beliefs from facts and scientific proof should be a natural trait for everyone with a smartphone and an internet connection. Unfortunately that is far from the case.

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What could Facebooks European payment license mean for banks?

Early December, Facebook finally unveiled their newly acquired licenses for e-money and payment services out of Ireland. The rumors of Facebook entering the payment space in Europe has been going on for a while, ever since it was reported that Facebook applied for a money transfer license a while ago. Facebook is already in a unique position to disintermediate retail banks as the most powerful digital ecosystem out there for consumers. The key to Facebooks powerful position is the ability to evolve alongside changing user behavior, and so far, Facebook is excelling at this. According to a study conducted by pwc, 68 percent of bankers are concerned with losing control over their customer interface. A regulatory compliant Facebook should definitely make those concerns turn into worries.

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Fintech predictions for 2017

Another exciting year for fintech has passed, and I will once again attempt to say something about the how fintech and the future of financial services will develop in the coming year. By now it is clear that the changing landscape for financial services is an evolution rather than a revolution, and many of these as well as my 2016 predictions will have a long-term perspective before we see any potential impact. No matter the case, attempting to predict the future is a surefire way to be mistaken.

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