January 26, 2018
This week has been a pivotal one for our team – we started the next chapter of our adventurous journey by consolidating our resources under one umbrella and a single platform: MEDICI. As a newly-started Friday tradition to cover the best of the week, this week’s theme is our message to you from our founders and the latest, 200-page State of FinTech 2018 report that uncovers the latest developments, trends, and opportunities across FinTech segments that we have been covering for the past five years.
Five years ago, we continued the journey with Let’s Talk Payments (LTP), a curated insights platform that has more than 100,000 subscribers with millions of annual views globally today. LTP quickly became the world’s #1 digital destination for FinTech trends & analysis. We thank each of you for your trust and support along the way.
The MEDICI knowledge portal was a natural extension of LTP, together offering proprietary research and data, and expertly organized so that the complex maze of FinTech could be navigated with ease. This shared resource has become FinTech’s digital watering hole – a place where financial institutions/startups identify and accelerate game-changing collaborations, facilitated by investors, accelerators, and hundreds of innovation programs.
MEDICI represents our entire FinTech industry: financial institutions; insurance companies; technology giants; established FinTech companies; 10,000+ FinTech startups; hundreds of investors, accelerators, incubators, challenges, hackathons, events, & innovation programs; and, of course, our 200,000+ email subscribers and social media followers. Innovators from every FinTech segment around the world – all under the same tent, collaborating and inspiring the booming FinTech space.
The report presents the MEDICI point of view on the forthcoming developments expected to take shape in 2018 and beyond in the FinTech sector. The report brings into focus the uncertainties around specific topics, and the factors leading to these uncertainties. How these get resolved is likely to shape the future in some segments of FinTech.
The Executive Summary covers main developments and trends in the following areas:
1. Evolving Bank-FinTech Narrative – From competition to collaboration to investment & acquisition to hybrid strategy. 2. Tech Invaders – Taking huge strides in FinServ. 3. AI/ML – Taking Things to the Next Level. China is doing some pioneering work in this area. 4. Lending – Second biggest blockbuster FinTech segment after payments: While there are similar trends across countries, regional nuances exist. 5. Open APIs Leading to Truly Open Banking – PSD2 opening gates for collaborative innovation. 6. Real-Time Payments (RTP) – Powering banks in the battle for dominance. 7. Remittances – Slowly moving towards real change. 8. Reactive Restitution to Proactive Prevention Models – IoT-driven InsurTech. 9. The Blockchain: Going Beyond the Pilot? Looking for answers to the scalability problem.