Core banking – fintech’s final frontier

If it ain’t broke, don’t fix it. This idiom has acted as a rule of thumb for core banking solution for several years. While analysts has claimed repeatedly that legacy IT is slowing incumbents down, the existing and sometime ancient core banking systems still work flawlessly. Although, even if something works an upgrade is due when the world around is moving at an increasingly rapid pace.

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You can’t have financial inclusion without digital inclusion

One of the most exciting aspects of fintech is the promise of delivering financial services to the unbanked and underbanked population of the world. According to the World Bank, 2 billion people are still unbanked in the world today. Even though this is a high number, it still is a decrease of 20 percent since 2011. Of the unbanked population, 1,5 billion people are unbanked due to their inability to prove their identity through a valid birth certificate, passport, proof of residence through utility bill or some other means to fulfil traditional KYC-procedures.

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How will blockchain impact the music industry?

While the financial industry is on the brink of disruption, the music industry has been on a steady decline as digital has replaced physical distribution the last ten years. Even though revenues in the music industry is growing for the first time since 1995, the gap between music consumption and artist revenues is growing. This is due to several factors, but one of the contributors for lesser known artists is how streaming platforms calculate royalties. The way it works, the artist’s monthly streams is divided on total monthly streams, effectively favoring whatever becomes that months huge hit, instead of dividing revenues per play. This has enraged both fans and artists, and some artists have chosen to pull their music from streaming services such as Spotify.

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