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Emerging Fintech Trends and Data Analytics Cass Goh 15 ... · 15 November 2017 Emerging Fintech...
Transcript of Emerging Fintech Trends and Data Analytics Cass Goh 15 ... · 15 November 2017 Emerging Fintech...
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Cass Goh
15 November 2017
Emerging Fintech Trends
and Data Analytics
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Internet Revolution & Consumerization of IT
• Internet made connecting and distributing information and services
effectively free
• Today, APIs have exposed technology once locked in an enterprise
server to individuals
• Redistribution of technology has led to consumerization of IT,
whereby hard- and software infrastructure and services will be used by both
businesses and consumers
• Consumerization leads to demand driven strategies. Enterprises used
to apply take-it-or-leave-it strategies, today strategies are driven by consumer
needs
In the finance world, this technology revolution is what defines
Fintech
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So Then, What’s Fintech
Tailored Solutions Quick to AdaptVarious Input
SourcesZero
Marginal Cost
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Fintech Ecosystem
Payments
Remittances Personal Finance
Lending Blockchain
Insuretech
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Emerging / Continuing Trends in Fintech
Collaboration between
Banks and Fintech
RegTech /
Identity Management InsureTechBlockchain
as a Service
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Examples – Processing Healthcare Claims Faster
Clinics / Hospitals
• Patient healthcare data
• Challenges:
• Data not digitalised
• Medical terms not standardised to industry
Wearables
• Lifestyle data
• Challenges:
• Outside of EHR system
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Examples – Personal Wealth Management Robo-Advisory
Bank Accounts
• Financial portfolio data
Historical Data
• Asset / return correlations
Investor Risk Assessment
• Responses to standard questions, e.g. stages of life, financial circumstances, goals / objectives
• Challenges:
• Not fully analysed by banks to determine usefulness of questionnaire response
• Challenges:
• Data not consolidated across bank accounts
• Investment reporting not presented in an easy to understand manner
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Potential Stumbling Blocks
Cybersecurity Trust Data Integrity