This week’s news: 26-30 October 2015
The news stories affecting businesses this week
The Money20/20 conference took place this week in Las Vegas, where decision-makers discussed the increasingly complex payments and financial services world and the latest technology was displayed. Highlights included wearable payment technology (think dresses, gloves, and bracelets), new POS systems, and Apple Pay’s partnership with Amex. See Bank Innovation for intel on the newest startups, and mark your calendars for Money20/20 Europe in Copenhagen this April.
“The modern-day theme of financial inclusion” means robo-financial advisors are becoming more and more popular, especially with people who can’t afford the services of a human wealth manager. But don’t worry, WMs – robots aren’t going to take your jobs. (Pulse)
Conversations about fintech vs. banks have been big lately. Jose Antonio Gallego at BankNXT tells us which fintech disruptors are guerillas, double agents, or invaders from outer space; The Barefoot VC asks whether banks are the next dinosaurs (short answer: maybe); and ThinkAdvisor takes bets on who’s going to win in the end.
Last week we learned that Brighton is the best place in the UK to start a business. This week, the World Bank Group placed the UK at #6 in the world for doing business. Not too shabby. (First place went to Singapore, who’ve dominated the category since rankings were first released in 2006). (Doing Business)
Innovate Finance tells us how Asian fintech leaders view the West, writing that “the UK has the opportunity to act as a global scaling engine for Asian FinTech players,” and that it’s important to consider inbound as well as outbound scaling in the industry. (Medium)
Also at Medium, Smart Money People gives us a rundown on six new challenger banks to look out for. Think streamlined services, no physical branches, and everything done by app – but be prepared to wait a little while before you sign up, as most don’t even have a banking licence yet. (Medium)