Fintech Revolution: Universal Inclusion in the New Financial Ecosystem

ISBN-13: 9783319760131 / Angielski / Twarda / 2018 / 406 str.

Sofie Blakstad; Robert Allen

Opis

This book is a practical guide to the evolving landscape of finance, highlighting how it's changing our relationship with money and how financial technology, together with macroeconomic and societal change, is rewriting the story of how business is done in developing economies.

Spis treści

Table of Contents

Preface: Level the field

1. Ecosystem vs Egosystem and Revolution vs Evolution

Dinosaurs and dynasties: the Financial Services Egosystem

If not banks, what?

The transition is beginning to happen

What’s next for financial services?

Evolution or Revolution?

Conclusion

2. What’s the point of banks?

What are banks for?

Banking services and emerging alternatives

Conclusion

3. The Death and Resurrection of capital markets

A Capital Markets Primer

The Death of Capital Markets - the paradigm shift after the next crash

Bringing it together

The Resurrection of Capital Markets - death of the dinosaurs and rise of the mammals

What’s next for capital markets?

Conclusion

4. New payments landscape

The Old World

The New World

Conclusion - Future (im)Perfect

5. Central bank digital currencies and cryptocurrencies

Central Banks and cryptocurrencies

CBDC opportunities

Why would central banks issue cryptocurrencies?

Options for CBDC implementation

Global response to CBDCs

Conclusion

6. Shifting values in the connected economy

Work, money and utility

Doing it all

Conclusion

7. Leapfrogging banks in emerging markets

The unbanked and underbanked, and access to identity

What has this meant for real people in developing economies?

Alternative finance and banks

Conclusion

8. Alternative wealth - the cow in your pocket

Behaviours and things as money

New asset classes, new wealth

Conclusion

9. New standard models for Banking

Traditional banking: over-diversification and complexity

Challenger Banks: facing problems of maturity and experience

Ecosystem Banks: collaborative, customer-centric services

The evolution of banking infrastructure

The Ecosystem Bank – we’re part of how your business runs

Conclusion: the future looks horizontal

10. The Money revolution - recycling value to drive sustainability

Money going back into the system

Conclusion

11. Green Fintech

The SDGs and the UNEP Inquiry into the financial system we need

Fintech sustainability opportunities

Use cases for sustainable development Fintechs

Conclusion

12. SME Microfinance, Fractional Ownership and Crowdfunding

SMEs and communities

Community marketplaces

Conclusion

13. International sustainable investment

The Sustainable Development Goals and investment

Evolving perceptions of sustainable investment

Barriers to growth

UNEP, the G7, the G20 and Fintech

Emerging Fintech solutions

The future of sustainable investing

Conclusion

14. Services & Demand

Product thinking

Service thinking

Banking for vegetarians

Conclusion

15. Platform Consumers

Platform marketplace

Customer uptake and behaviour

Businesses in the platform age

Conclusion

16. Technology vs Solution

Technology as a product

So why is this a problem?

Solution focus

Conclusion

17. Career as microservices – reputation based skills validation

Conclusion

18. Plebocracy bias

Why is critical thinking so hard?

How do we identify authority figures?

What does this mean for our modern reputation systems?

The rise of plebocratic reputation systems

Plebocracy bias

So what can we do about it?

Conclusion

19. New approaches to identity and authentication

Background to customer authentication and authorisation

Who’s the customer?

Borderless platforms and regulation

Evolving approaches to authentication

Conclusion

20. Contextualised Trust Solutions

The need for contextualised trust

The challenge of context

Solutions

Conclusion

21. Service Consumers

Services and you

Customer Behaviours

So what does this mean for financial services?

Conclusion

22. Service Alignment

But aren’t banks service aligned already?

What do we mean by Service?

What makes a service work?

What is Service Alignment?

No more empires

No more heroes

The banks are doing fine – why change?

So what does a service aligned organisation look like?

Conclusion

23. Case Managed and Core Standardised Capabilities

Case Managed, multi-skilled teams at the customer facing edge

Core Standardised, Capacity Managed Capabilities

Conclusion

24. Communities of Practice and Centres of Excellence

What is a Community of Practice?

Centres of Excellence

Community of Practice or Centre of Excellence?

Conclusion

25. Service Architecture

What is a Service?

Services, processes and capabilities

Service Model vs Capability Map

Services and Customer Journeys

Why is this useful?

Service Architecture and organisational structures

Conclusion

26. Decision Architecture

What is decision architecture?

Clarity

Service aligned decision architecture

Decision architecture in the ecosystem

Conclusion

Index

References

 

O autorze

Sofie Blakstad is the CEO of transformational financial technology company hiveonline, which levels the competitive environment for small and micro businesses, expands sustainable investment and promotes community engagement, founded after a career building and transforming international banks. Her banking build expertise spans technology and business transformation programmes involving thousands of people in over 60 countries. Her blueprint for service aligned banks is the subject of her first book, Why Change? (2013). Sofie is an advisor to the G7 and G20 groups, the United Nations Environment Programme, and various governments and central banks on fintech, identity, trust and blockchain.

Robert Allen is an engineer and payments specialist, spending much of his career delivering major transformation programmes in international banks. More recently he has co-founded the Digital Asset Services practice for PwC and built the revolutionary Vulcan blockchain platform.  Rob is passionate about financial inclusion and has been targeting use cases for his platform to support financially under-served populations with new models based on digital identity, cryptocurrency and blockchain. Rob advises UNEP on blockchain and cryptocurrencies, is a board member of the Australian Payments Council, and is a mentor and advisor to numerous fintech startups.  A keen advocate of marine conservation issues, Rob is also a director of the Shark Conservation Society.

Blurb

This book is a practical guide to the evolving landscape of finance, highlighting how it’s changing our relationship with money and how financial technology, together with macroeconomic and societal change, is rewriting the story of how business is done in developing economies. Financial services companies are trying to become more customer focused, but struggling to help huge customer segments, particularly in developing economies.  Alternative financial models and tools are emerging, which are being embraced by consumers and incumbents.  In large parts of the developing world, alternative services are leapfrogging traditional finance, meaning more and more people have access to finance without ever needing a bank. Meanwhile, the barriers around financial services companies are crumbling, as they become more reliant on integration with new providers and alternative types of service.  Financial products can no longer be viewed in isolation, but as part of a service landscape that supports how people do life.  This means rethinking how our businesses are designed, motivated and organised, and letting go of the old ways of thinking about supply and demand. With practical steps businesses and, in particular, financial services organisations need to take to participate in a global service ecosystem, this book will be of interest to financial professionals who work in banking, financial technology, and development finance.