FinTech Articles of the Week 7/17/15
Cash Dies Hard
Cash is not dying without a fight. This week’s news contained a wide range of topics on the trials and tribulations of the shift from cash to digital. What are the immediate battles that digital still has to face, what can it offer to the internationally “underbanked,” and what tools can we use to better think about the exchange between the two?
The rise of mobile payments has had perhaps the biggest effect on the developing world. Not only does it provide safer transactions, it actually provides the data these countries need to better understand (and grow) their economies. And, just to balance it out, here is a defense of the resilience of cash.
In recent weeks, Institutional Investor has stepped up its coverage of cryptofinance regulation. “BitLisence” weighs the obvious benefit that regulation — and its accompanying legitimation — would have with the potential for cramping innovation before the new currencies have had a chance to mature. An earlier piece provides an overview of the steps that the CFTC has been taking.
The shopping cart dilemma (we’ll call that the web’s version of cash) and the frequency with which consumers abandon purchases before payment is not new to online retailers. The new “buy buttons” are the thing here. Now Amex puts in its bid where members can buy without creating an account. USA Today looks at the rest of the features that the “anti-wallet” offers.
A few years ago we were hearing the end-of-times cry for the traditional bank, with digital set to overthrow the market. Gonzo Banker takes a look at what the reality of that claim is, how far we’ve come, the impact of the Fed’s low rates, and, of course, what the future holds.
As the financial landscape shifts and becomes increasingly complex, Gareth Lodge at Celent Banking expands on thoughts by Dave Birch over at Consult Hyperion to work out the need for “need more/better/different nomenclature” to better rethink the digital transformation of banking. They speak to the powerful impact of accurately identifying and naming changes in order to navigate them more easily.