Emerging Fintech Trends and Data Analytics Cass Goh 15 ... · 15 November 2017 Emerging Fintech Trends and Data Analytics. ... •Redistribution of technology has led to consumerization

Cass Goh

15 November 2017

Emerging Fintech Trends

and Data Analytics

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

So Then, What’s Fintech

Tailored Solutions Quick to AdaptVarious Input

SourcesZero

Marginal Cost

Fintech Ecosystem

Payments

Remittances Personal Finance

Lending Blockchain

Insuretech

Emerging / Continuing Trends in Fintech

Collaboration between

Banks and Fintech

RegTech /

Identity Management InsureTechBlockchain

as a Service

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

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

Potential Stumbling Blocks

Cybersecurity Trust Data Integrity