Reinventing Banking and Finance: Frameworks to Navigate Global Fintech Innovation

by Helene Panzarino, Alessandro Hatami (Contributor)

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.

Genres: Business

Unknown Binding

Published June 1, 2020

Reviews

[Kim Hill Markland · Rating 4 out of 5]

I was recently promoted to be the president of the bank I work for and with that comes the large responsibility of keeping our small community bank up to speed with the ever changing technology and innovation happening in the financial world. I started researching fintechs and looking into the possibilities available for partnerships several months ago. And I stumbled across this book. It was a very good starting point as it does a great job of summarizing how the banking industry started, the changes it has gone through over many, many years, and where we find ourselves today. It also explains the current landscape and why keeping up with technology and utilizing the innovations of the fintech world are necessary to keep banks like mine relevant in today's environment. It was a very good read and I recommend it to anyone in the banking industry tasked with "keeping up with the Joneses".

[Sierra · Rating 3 out of 5]

Literature on everything banking, written for the layman. Book tries to paint a picture of past, present and future of banking. A condensed set of "news" on banking if you will, nothing you can't get your hands on with research, but very thorough. If you are just starting out to understand the "banking scene" and want to save time on research, this book will serve as the best guide you can get your hands on to know briefly about everything "basic banking".
Authors/publishing house could have done a better job at naming the book, quite a mouthful and I won't be surprised if any layman who wanted to know about banking, stepped away from this informative source just because the title made it seem like the content is too sophisticated or complex for them.

[Igor Pejic · Rating 5 out of 5]

For a long time fintechs have been perceived as possible disrupters for banks. By now finance professionals have understood that fintechs will not be to them what Amazon was to book dealers, but rather these tech-native finance companies are seeking cooperation. Hardly any bank can claim to have succeeded in its digital transformation efforts without investing, buying, or cooperating with an agile fintech startup. But how to pull it off? Hatami and Panzarino take you on a journey through the world’s fintech hubs and not least thanks to a number of first-hand interviews they help you comprehend the rationale by which fintechs operate.