FinTech notes
[video 1.2] From FinTech to TechFin.
[video 1.3] First milestone: 1867 first establishment of cable; second milestone: WWII. Developing codes for secure communication and systems to break it. (Also regtech.)
*FinTech 1.0- Infrastructure; FinTech 2.0- Banks; FinTech 3.0- Startups; FinTech 3.5- Emerging Markets.
[video 1.4] FinTech 2.0 started at 1967 when first ATM was built by Barclay, and the hand-held calculator by TI. 3 significant trends- (1)1960s/1970s domestic/int'l electronic payment systems; SWIFT is an organization; 1971 establishment of NASDAQ (2) 1987 a major market crash; 1980s online banking.
[video 1.5] 2008 financial crisis impacted the FinTech development: (1) unemployment, especially young people, forcing people to look for other opportunities (2) regulatory changes (3) distrust in banks. And the launch of iPhone in 2007. --> the explosion of startups.
[video 1.6] Fields for FinTech: (1) Finance and investment (2) Operation and risk mgmt (3) Payment and infrastructure (4) Data security and monetization (5) Technology in customer interface.
(1) alternative financing- crowdfunding, P2P, ICO (initial coin offering); in both new and traditional forms of business.
(3) ex. blockchain and distributed ledger technology.
(4) both risk and opportunities. datafication to monetize it.
[video 1.7] to small to care to too big to fail in a record time.
[video 1.8] 1st era is 100 years; 2nd era is 40 and 3rd is approx. 10 years. Each period shorter yet reach to end user faster. ex. 餘額寶 (regulator sandboxes)
[video 1.9] FinTech is the intersection of finance, technology and regulation.
[video 1.9.1] RegTech. Regulatory alerts have been from 8000 in 2008 to 56000 in 2017.
(1) Blockchain: immutable, concensus driven, transparent, distributed, work flow enabled, trust replaced with truth.
(2) Cognitive computation:
(3) Internet of things:
(4) Open source and API economy:
(5) The cloud:
(6) Big data: data tagging.
1. RegTech solutions must be powered by trusted, structured and unstructured data that also has data mastering capability for effective integration with existing solutions. 2. Advanced analytics and AI will play a key role. 3. Digital identity.
[video 1.2] From FinTech to TechFin.
[video 1.3] First milestone: 1867 first establishment of cable; second milestone: WWII. Developing codes for secure communication and systems to break it. (Also regtech.)
*FinTech 1.0- Infrastructure; FinTech 2.0- Banks; FinTech 3.0- Startups; FinTech 3.5- Emerging Markets.
[video 1.4] FinTech 2.0 started at 1967 when first ATM was built by Barclay, and the hand-held calculator by TI. 3 significant trends- (1)1960s/1970s domestic/int'l electronic payment systems; SWIFT is an organization; 1971 establishment of NASDAQ (2) 1987 a major market crash; 1980s online banking.
[video 1.5] 2008 financial crisis impacted the FinTech development: (1) unemployment, especially young people, forcing people to look for other opportunities (2) regulatory changes (3) distrust in banks. And the launch of iPhone in 2007. --> the explosion of startups.
[video 1.6] Fields for FinTech: (1) Finance and investment (2) Operation and risk mgmt (3) Payment and infrastructure (4) Data security and monetization (5) Technology in customer interface.
(1) alternative financing- crowdfunding, P2P, ICO (initial coin offering); in both new and traditional forms of business.
(3) ex. blockchain and distributed ledger technology.
(4) both risk and opportunities. datafication to monetize it.
[video 1.7] to small to care to too big to fail in a record time.
[video 1.8] 1st era is 100 years; 2nd era is 40 and 3rd is approx. 10 years. Each period shorter yet reach to end user faster. ex. 餘額寶 (regulator sandboxes)
[video 1.9] FinTech is the intersection of finance, technology and regulation.
[video 1.9.1] RegTech. Regulatory alerts have been from 8000 in 2008 to 56000 in 2017.
(1) Blockchain: immutable, concensus driven, transparent, distributed, work flow enabled, trust replaced with truth.
(2) Cognitive computation:
(3) Internet of things:
(4) Open source and API economy:
(5) The cloud:
(6) Big data: data tagging.
1. RegTech solutions must be powered by trusted, structured and unstructured data that also has data mastering capability for effective integration with existing solutions. 2. Advanced analytics and AI will play a key role. 3. Digital identity.
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