Issue 1 Summer 2016

Fintech in FocusFrontier banking

Exploring Mongolia

Big data daddiesUniCredit

fights back

Rise of the challengers

Preparing for takeoff with Starling's

Anne Boden

Frank Abagnale On cyber theft and the fight against fraud

Jordan BelfortFollowing the money with the Wolf of Wall Street

Plus INsIGHTs FRom RBS The Just Group Barclays Envestnet DBS Saxo Payments Metro Bank UBS Santander NBAD LV Innovate Finance Moven ACI Smart Engine

ISSUE #1

ww

w.fintech.finance

"I don't think of work as w

ork and play as play; it's all Living"

FF01_p01_Cover.indd 1 19/05/2016 14:48

intellectdesign.com

RUN THE BANK. CHANGE THE BANK. DESIGN THE BANK. iGTB helps banks maximize corporate wealth with the world's first integrated transaction banking platform serving 100+ live installations across 85 countries. Leveraging its out-of-the-box digital 360 approach, banks help businesses optimize surplus liquidity, digitize the financial supply chain and trade, enable anytime universal payments and remove concerns from risk.

140% increase in transaction volumes from Australia to Asia for a leading bank using iGTBThe digital financial technology youve always needed to leverage your expertise and on-field innovation is here.

iGTB is your platform to seize the tremendous global transaction banking opportunity, estimated at $2.1 trillion by 2023. Seamlessly integrate all transaction needs of your corporate customers, delighting them with superb experience through a consolidated next generation front-end portal with Corporate Banking Exchange and powerful back-end product processors designed for operational efficiency across Payments & Cash Management, Liquidity, Supply Chain & Trade and Commercial Risk.

With leading global transaction banks running on Intellect designed solutions, we are the authority progressive banks rely on to realize their GTB ambitions. Realize your GTB ambitions today.

THE WORLDS FIRST COMPLETE GLOBAL TRANSACTION BANKING PLATFORM

COMMERCIAL RISKDIGITAL LIQUIDITYPAYMENTS &

CASH MANAGEMENTSUPPLY CHAIN

& TRADE

Sydney Tokyo Hong Kong Singapore Mumbai Dubai London New York Toronto

Realize your GTB ambitions with iGTB today.

ContactPhil Cantor, CMO, iGTB

to know more.e: phil.cantor@intellectdesign.com

FF01_p02_Intellectdesign Advert.indd 2 11/05/2016 20:56

3CONTENTS

Summer 2016 www.fintech.finance |

Special report

6 The rise of modern banking in Mongolia A country where everyone has a bank account and branches are open 24/7

paYMeNtS & iNNoVatioN

10 Safety in numbers The rapid rise of crowdfunding has changed the face of equity funding

12 Chain reaction How blockchain technology could facilitate a revolution in trade finance

14 An interconnected world of payments Fixing an outdated many-to-many model by introducing a hub-and-spoke

16 The battle for fintech Banks versus fintechs overlooks the real challenger China

18 A global digital market A sharp rise in cross-border electronic payments has opened up the market for transaction providers

20 A collaborative approach Global giant UBS is finding innovative ways of becoming a leader in the digital space

22 The future of payments The challenge of an evolving payment ecosystem

25 The emperor with no clothes What we can learn from the spectacular collapse of paytech startup POWA?

26 Planet of the apps Android-based card payment terminal Albert is bringing merchants closer to customers

28 The voice of banking Santander is determined to talk to customers across every channel not least with its voice-led mobile service

30 Flexible friends Contis Group is making its name as an agile player in alternative banking

32 Rising to the challengers The disruptive influence of low-cost, digital banks could actually be good news for institutional dinosaurs

cuStoMer experieNce

34 Bridging the Gulf in banking The National Bank of Abu Dhabi aims to being the Worlds Best Arab Bank

Welcome to the first issue of Fintech Finance Magazine, a companion to our popular Fintech Finance channel, in which we give a platform to some of the sharpest players shaping the industry today.

From disruptive start-ups to established operators sharing a sometimes surprisingly new perspective, we hope you find it a stimulating mix of opinions and information on the technology thats transforming not just finance, but the way we live our lives.

Find out why Neal Cross of DBS Bank is looking forward to a Chinese revolution and Anne Boden is having her cake and eating it at Starling. What does the FBIs favourite fraudster, poacher-turned-gamekeeper, Frank Abagnale, have to teach us about identity theft and are there any lessons Wall Street can learn from its famous wolf?

It would be wrong to think that traditional areas of banking, including the branch, are not evolving. But where does face-to-face banking fit in? We discover how big data is improving the

TheFintechViewiSSUe #1 SUmmer 2016

customer experience be it through the creation of the new RTM by KAL, or the development of real-time financial transactions assisted by ACI and empowering staff at the front desk.

The breadth of the content in this issue illustrates how digital technology is impacting on every transaction in branch, online and via next-generation hand-held devices. Who knows what the future will bring, but speaking to both mainstream bankers and the newest entrepreneurs, Im convinced that fintech will have a big hand in shaping it.

I hope you enjoy this edition and let us know what YOU think!

Ali Paterson | ali@fintech.finance

36 Evolution not revolution The internet of Value is forcing rapid change on the way corporate banks do business

38 Digitally dressed to impress rBS is leading the way in wearable technologies

40 The price of digital loyalty? intelligent technology is creating great relationships between banks, merchants and customers

42 Push me, pull me UniCredit is nudging customers towards starting a conversation on line

44 Lost for words Teaching banks how to talk to customers using a new digital lexicon

46 The bank that keeps on giving Nationwide has a lot of happy customersit plans to keep them

48 Fintastic fun Australias Sandstone Technology was a fintech before fintech was invented

50 The fortune hunters investor search platform Fundbird is poised to make the most of changes to UK banking laws

53 Listen up! Analytics specialist Nexidia his its ear to the ground and a view on how banks should be talking to customers

Data

54 Malaysias digital powerhouse malaysia Digital economy Corporation is positioning the country as one of the worlds biggest data centre hubs

56 Humanising digital iT shouldnt be about taking people out of the process; its about enabling them to play a greater part in it

FF01_p03-05_Contents.indd 3 13/05/2016 09:37

intellectdesign.com

RUN THE BANK. CHANGE THE BANK. DESIGN THE BANK. iGTB helps banks maximize corporate wealth with the world's first integrated transaction banking platform serving 100+ live installations across 85 countries. Leveraging its out-of-the-box digital 360 approach, banks help businesses optimize surplus liquidity, digitize the financial supply chain and trade, enable anytime universal payments and remove concerns from risk.

Doubled transaction banking corporate customer base in just 9 months for a middle-eastern bankPioneer innovation with Corporate Banking Exchange (CBX) giving your corporate clients a seamless experience across account services, payments, receivables, liqudity and trade. The true omni-channel apps-based customer engagement platform is revolutionizing digital access to banking, with an e-banking portal that actually understands what the business needs.

Be the ber-banker by tailoring experience for your customers at no extra cost to you, any country, any currency, any sector, any segment.

Allow clients to connect with you how they choose and with self service, with omnichannel features across web, laptops, Android, iPhone, iPad, tablets and even wearable technologies.

CBX is now on Apple Watch too. Experience it today.

COMMERCIAL RISKDIGITAL LIQUIDITYPAYMENTS &

CASH MANAGEMENTSUPPLY CHAIN

& TRADE

Sydney Tokyo Hong Kong Singapore Mumbai Dubai London New York Toronto

Spearhead your digital innovation with iGTB today.

ContactPhil Cantor, CMO, iGTB

to know more.e: phil.cantor@intellectdesign.com

FF01_p04_Intellectdesign Advert.indd 4 11/05/2016 20:56

5

CONTENTS

Summer 2016 www.fintech.finance |

59 App-iness is the truth retail banks wont fully realise the transformative power of fintech without widespread adoption of APis

61 20/20 vision Four key takeaways from this years money20/20 europe conference

62 The big daddies of big data Global banks arent late to the digital party, theyre just figuring out what next to do with it

64 Less pain, more gains How to find the gain in BFSi customer service

Grc & traDiNG

66 Running with the pack The Wolf of Wall Street has turned from predator to penitent

68 Up in the Cloud The Alcatraz data depository is propelling Actiance to the forefront of next-gen archive technology

70 Wall Street to mainstreet How would Brexit affect your investments? One of the coolest fintechs might just have the answer

72 Finessing fintech Fast-growing system integration company Finesses bright ideas are helping banks work sma