Innovation – Finance – Technology
Join me as I return to the stage on the opening day of Money 20/20 this June in Amsterdam to discuss banking as a service. What is the fate of licensed banks in this scenario, and how will digital ecosystems between incumbents, fintechs, and tech companies evolve?
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For regular readers of my blog, it should be no surprise that I believe that strategic use of APIs are fundamental building blocks for digital transformation. However, opening up comes at a price. Unprotected APIs could provide a back door to data and critical systems open for criminals and individuals with malicious intent.
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Fintech has in a few years grown from a narrow area of interest to become one of the hottest topics in Norway. With an already digital and cost-efficient banking sector, all the prerequisites are in place to succeed in establishing and scaling the next generation of digital banking services.
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When it comes to innovation one of the most common associations to the term is to think outside the box and set your inner child free. While brainstorming completely without boundaries may produce some entertaining ideas, the usefulness of those ideas is often limited. Just look at how small startups are able to challenge behemoths corporations in incumbent industries, it is definitely not due to a limitless supply of resources, but rather the opposite.
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Open banking has been one of the hottest technology trends in the banking industry for a while. But in order for banks to truly embrace open banking, it is imperative that the key concepts of open banking are well-known across the whole organization. This guide aims to give a brief overview and provide a deeper understanding of the term open banking.
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Even though banks have had a digital presence since the dawn of the internet, online banking solutions still resemble an electronic representation of the paper-based bank statement that used to arrive in the mail once every month. If you are convinced that you could do a much better job than the banks in reinventing online banking, you should look no further.
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Digitalisering har vært et tema som har vært vanskelig å overse i 2017, og selv om det tidvis kan fremstå som en hype, så er det lite som tyder på at dette er et fenomen som vil gå over. Norske virksomheter må heller forberede seg på en vedvarende tilstand kontinuerlig endring er den nye normalen der det kommende året vil by på nye digitale muligheter og utfordringer.
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2017 have been an eventful year in the world of technology, digital transformation, and fintech. As we are approaching the end of the year, these have been the top ten topics of the year on my blog according to post popularity.
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We are building the next generation financial application aimed at millennials, promoting financial inclusion – built on blockchain powered by AI all available through state of the art APIs. Everyone has heard this pitch from at least one fintech. How should banks and investors look beyond the hype to distinguish substantial companies from empty promises?
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While the recent surge in bitcoin price is good news for many bitcoin investors, it should be seen as a death sentence for the functional value of bitcoin. As the price continue to reach new record levels, it becomes obvious that bitcoin is useless for anything else than speculation.
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Attempting to reinvent your core business is hard. When it comes to innovations, the further you venture from your core business, the higher the likelihood of failure becomes. At the same time, sticking to an eroding core business for too long is a surefire way to slowly fade into obscurity. How should leaders manage innovation and avoid being caught between doing nothing and chasing the wrong opportunities?
Read More Fra en beskjeden start for kun få år siden har norsk finansteknologi (fintech) blitt et sentralt tema i videreutviklingen av norsk finansnæring. Kombinasjonen av regulatoriske endringer som krever at bankene tilgjengeliggjør deler av sin betalingsinfrastruktur for tredjeparter gjennom betalingsdirektivet PSD2, endringer i kundenes forventinger og adferd og mulighetene som ligger i ny teknologi utgjør en perfekt storm som driver frem behovet for endringer i bransjen.
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Skandiabanken skifter i dag navn til Sbanken. Navnebyttet setter endelig punktum i løsrivelsen fra svenske Skandia. Navnet Sbanken understreker målet om å gjøre bank enda enklere.
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Intex Resources ASA to be renamed Element ASA signs Terms of Agreement with Harmonychain to explore initiation of an Initial Coin Offering of asset-backed digital tokens based on blockchain technology.
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Ever since I started analyzing how technology and new business models would significantly impact financial services, I’ve been eager to put that knowledge into action. Now that I’m in position that enables me do do that I need to focus mye time accordingly.
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I have already written a great deal about open banking, but as it has quickly become the latest hype in the banking world it is time to revisit the topic. With PSD2 close to coming into effect, an increasing number of banks are lining up to open up their platforms, forever changing the digital banking landscape as we know it.
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Banking is necessary, banks are not was stated by Bill Gates all the way back in 1994, and has served as the mantra for the first wave of fintech. Following the Silicon Valley obsession of disrupting incumbent industries, numerous fintechs were ready to challenge every aspect of banking and deliver better banking services directly to consumers. Armed with the recent Millennial disruption index, where 71% of respondents claimed to rather visit the dentist than listen to their bank everyone was convinced that the days of incumbent banks were numbered.
Read More Initial Coin Offerings has suddenly emerged to be a fast growing funding source for technology startups, and by July this year, almost $1,3 billion has been raised through this funding mechanism, where more than half of the amount was raised in June. With this speed of adoption, wither someone has figured out something ingenious to fill a gap in the market, or we are looking at a greed-driven bubble.
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One of the biggest hurdles for banks is the never-ending growth in complexity and regulations in the compliance department. This is one of the areas in banking where Artificial Intelligence (AI) shows vast promise. As machine learning techniques become more advanced banks are looking to Anti Money Laundering as one of the hot application areas.
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Grunnleggende forståelse av informatikk er avgjørende for å forstå hvordan mennesker og maskiner kommer til å samhandle i fremtidens arbeidsliv. Fagene i skolen må derfor endres i takt med samfunnsutviklingen.
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