Book review: Fintech: The New DNA of Financial Services (P. Gupta & T. Z. Tham)
I recently received a new book, Fintech: The New DNA of Financial Services, published by Walter de Gruyter. It’s an edited volume compiled by Pranay Gupta and Tze Mandy Tham in their effort to educate a broader audience on the terminology, concepts, and implications of fintech at large. Fintech – a fusion of technology, finance, business models, and mathematics and computer science – is producing an unprecedented change to the financial services industry in a similar manner as transportation, books, hospitality, telecommunications, media, retail, and software vendors have been disrupted and disintermediated by new technology-enabled capabilities. Things are moving fast at the fuzzy front end, but there is always the puzzle of the sticky back end, and consequently, it’s vital for incumbents to understand their current positioning in the midst of adopting new technologies. It is ultimately the consumer who is really driving the disruption forward, and therefore it’s crucial…
Book Review: FinTech Innovation by Paolo Sironi
There is no lack of differing opinions on the future of wealth management as everyone wants to be heard. We know for sure that the future of wealth management industry is most definitely shaped by the influx of new technologies, significant global regulatory turbulence, and various changes in the customer behavior. So what else is new? We have recently witnessed how new players have entered – with great success – to areas of the financial services industry that were considered off-bounds for innovative new entrants, and even the mainstream C-suite is constantly talking about going all digital. 1)Financial Times (2016). Barclays UK sees digital technology as crucial to its future. [Accessed 3 Aug 2017] It’s no wonder that the wealth management industry is very keen to understand how the complex equation of growth versus profitability is supposed to work in the era of growing revenue and expense pressures combined with…