Reviews:
“A compelling narrative of the history, forces, threats
and opportunities that are reshaping the financial industry. The experience of
the authors shines through in their confident and accessible writing, as well
as in their cross-continental overview of the key institutions and people that
are enabling better ways for all of us to manage our money in the mobile and
data-centred world we live in.”
—Josh Bottomley, Global Head of Digital, HSBC
“With the emergence of fintech the banking industry is
being dragged into the digital age kicking and screaming. This book describes
how this transformation is taking place and how different parts of the globe
are responding differently to the change. The authors’ perspectives, derived
from their first-hand knowledge of digital transformation in banking, make it a
compelling read.”
—Paolo Zaccardi, Co-Founder & CEO FABRICK,
President HYPE
“A must read for every forward thinking banking
executive. The radically simple neo bank model outlined is one all banks should
consider as part of their transformation to a customer centric organization,
while the thorough global review of fintech hubs will bring any seasoned
innovator right up to date. What makes the sharp perspective shared in this
book so credible is the industry experience both authors bring. Developed
through extensive first-hand knowledge running banks and advising a whole host
of fintechs the rigorous point of view is rare in a book like this.”
—James Haycock, General Manager UK, idean
Capgemini
“In this book the authors describe the impact digital
adoption is having on banking and financial services across the globe. A must
read for anyone seeking to know more about how a fundamental industry is transforming.”
—Matthew Chen, Group CEO, Sunline Holding
“Provides an insider’s perspective on how technology is
transforming financial services, I particularly enjoyed the historical context,
the concept of the ideal Neobank and the profiles on the fintech hubs across
the globe.”
—Elias A. Baltassis, Partner and Director, Data
& Analytics, Boston Consulting Group
Description:
The finance
industry is currently going through a digital revolution, with new and
developing technology transforming the world of banking and financial services
beyond recognition. Banks and financial institutions worldwide recognize the
pressing need to innovate to avoid disruption or displacement by highly agile
and often smaller fintech companies. Reinventing Banking and Finance
is an essential guide for finance professionals to current trends in fintech,
innovation frameworks, the challenges of outsourcing or embedding innovation,
and how to effectively collaborate with other organizations.
Beginning with the
history and background of how banking got to the era of fintech, the book
provides a thorough overview of the global fintech ecosystem and the drivers
behind innovation in technologies, business models and distribution channels.
Examples of key institutions and interviews with innovators and experts shine a
light on key financial innovation hubs in UK, US, China, Israel and more, and
offer advice for institutions looking to choose the right market for their
needs. Covering genuine innovations in AI, machine learning, blockchain and
digital identity, Reinventing Banking and Finance offers expert
insight into navigating the complex and multi-layered finance industry.
Key features at a glance:
- Provides advice for banking and
finance professionals on the drivers and challenges of innovation, and the
possibilities of collaboration and partnerships
- Explores the emergence of global
fintech hubs, including London, New York, Tel Aviv, the Gulf and Shenzhen, and
how their specialisms distinguish them
- Contains examples of companies leading
in innovation and interviews with innovators and experts to capture multiple
perspectives
- Covers current technology trends in
banking and finance such as AI, machine learning, blockchain and digital
identity
- Outlines the background and building
blocks of innovation in financial services and the key factors which have
shaped the industry such as mobile, cybersecurity and big data
Contents:
List of figures
and tables
About the
authors
Foreword
Authors’ note
Acknowledgements
List of
abbreviations
Chapter 01. The
History of Banking •
The origins of the modern bank • The fintech disruption • Back to the origins
of banking • References
Chapter 02. The
Digital Threat • The
inevitability of digital disruption • Technology • Behaviour • Innovation and capital
• Regulation • What is driving innovation? • References
Chapter 03. The
Shape of the Perfect Neobank • What does disruption look like? • Why customers need banking • The
perfect neobank • A concept – not a product • References
Chapter 04. The
Journey from Bricks and Mortar to Digital • Phases of digital transformation • Innovation
strategies • The big tech challenge • References
Chapter 05. The Fintech Hubs • People •
Capital • Innovation • Regulation • The hubs and the tribes • References
Chapter 06. The Fintech Tribes • The bank
challengers • The payments innovators • The champions of the unbanked • The
social bank challengers • The infrastructure builders • Making banking better •
References
Chapter 07. London • Background • Key
strengths • Key institutions • Key events • Key actors • Key influencers •
Conclusion • References
Chapter 08. The Gulf • Background • Key
drivers • Islamic fintech: additional driver and opportunity • Key strengths •
Regulation • Key institutions • Access to capital • Key events • Conclusion •
References
Chapter 09. Paris • Background • History •
Key strengths • Talent landscape • Access to capital • Profile of the regulator
• The ecosystem • Key events • Key influencers • Where does the city on Seine
go from here? • References
Chapter 10. New York City • Background •
History • Silicon Alley (Flatiron) • New York City’s fintech ecosystem • Access
to capital • Profile of the regulator • The ecosystem • Talent landscape • Key
institutions • Key events • Stand-out fintechs • The future is bright •
References
Chapter 11. Tel
Aviv • History •
Silicon Wadi • Key strengths • International financial institutions and large
multinational corporations • Active and solid investor landscape • The
ecosystem • Key influencers • Profile of the regulator • Key events • Moving
forward • References
Chapter 12. Shenzhen • Background •
History • Key strengths • Talent landscape • Access to capital • Accelerators
and incubators • Most important players • Profile of the regulator • The ecosystem
• Key events • Key influencers • Where does Shenzhen go from here? • References
Chapter 13. Final Thoughts • What is
fintech and why does it matter? • The hubs • Outlook • What next? • References
Further reading
Index
About the Authors:
Originally a
Commercial Banker, Helene Panzarino is a highly experienced Fintech
Programme Director, exited entrepreneur, educator and author. Her most recent
role was MD of the global Rainmaking Colab Fintech Programme, a world-first,
post-accelerator programme for Series A+ FinTechs and Tier 1 financial
institutions. Responsible for the Inaugural Programme of Education and Events
for Innovate Finance, she is also an Associate Director of the LIBF Digital
Banking Centre, the Lead Fellow and creator on a world-first Fintech Pathway in
a Masters in Tech Entrepreneurship Degree for UCL, and co-creator and lead
delivery partner on the Imperial College FinTech Executive Education Programme.
Her specialist subject areas are Digital Banking and Alternative Finance
(SMEs). She is also the CEO of the Banking Lab (London) enabling community
banks and building societies to engage with the global Fintech community. A
regular judge, speaker and moderator for the banking and Fintech awards and
conferences, Helene was a BSI Fintech representative for the UK in Brussels and
has been named on the Computer Weekly 100 Women in Tech Award 2018-19.
Alessandro
Hatami is the founder
of advisory firm Pacemakers.io, specialising in digital transformation in
financial services. He has been a practitioner of digital innovation in banking
for over 15 years, holding senior executive roles at businesses such as PayPal,
Lloyds Banking Group, PayPoint and GE Capital. He is a regulated Non-Exec
Director, mentor to FinTech start-ups and an investor in several early-stage
tech companies. Alessandro is a well-known figure in the European fintech
ecosystem and is a frequent speaker at events across the globe. He holds
Engineering degrees from Georgia Tech and the University of Rome “La Sapienza”
and an MBA from INSEAD. He lives in London with his wife and two daughters.
Target Audience:
This book is
essential guide for finance professionals and banking executives.