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is likely to remain an important player in building the future of finance, but as Peter Thiel has now said for several years, Silicon Valley has no monopoly on innovation (Zero to One: Notes on Startups or How to Build the Future, 2014). The geography of innovation is increasingly decentralized. As a result, Antony (Jenkins) started with a blank paper and created a new system from scratch to improve the banking experience, incorporating machine learning, cloud services, encryption at all states etc.” The Voyager Fund led the last funding round by 10X Technologies run by Antony Jenkins.įor a deep dive into core banking IT infrastructure, cloud-based services, competition from challenger banks, and the cost implications of all the above, turn to Chapter C of this report. New Bank IT Investment Priorities, 2014-2016ĬRM Regulatory Service Payments VirtulisationĪs Jonathan Larsen, Chairman/CEO of the Ping An Voyager fund, notes in Chapter C, “Legacy platforms relying on mainframe systems are a big problem holding the banking industry back and making any changes is very complex/cumbersome.
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New RBI Directive Could Threaten Digital Payments.Google's m-wallet (Tez) Sees Early Success.India on the Frontline of Digital Finance.China and India on Different FinTech Paths.Interview with Kapronasia: Zennon Kapron.Tencent's WeChat Is China's App for Everything.Ant Financial Builds an Empire of Services.AI Enables FTE Reduction, Optimizes Distribution.Interview with Citi Ventures: Ramneek Gupta.Banking & Securities Is the Largest Non-Tech Industry for AI.Industrialization of AI – Spending and Investing More.Interview with Exponential View: Azeem Azhar.Re-imaging versus Re-engineering Finance.C Is for Core Banking, Cloud, and Challengers.B Is for BigTech, Especially in Asia and Emerging Markets.A is for Artificial Intelligence and Automation.
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The ABCs of Digital Disruption in Finance.
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