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Understanding Fintech Conversations

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A brief slideshare on our easy-to-read white paper highlighting the latest trends in fintech. Want to participate in discussions about blockchain technology, digital currency, digital identity, and more?

Publicada em: Economia e finanças
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Understanding Fintech Conversations

  1. 1. UNDERSTANDING FINTECH CONVERSATIONS Image: Flickr user Sebastiaan ter Burg
  2. 2. CONTENTS • Blockchain • Digital Currencies • Digital Identity • Omni-channel • Contactless Payments • Wearable Payments
  3. 3. Image: Flickr user Simon Blackley BLOCKCHAIN CHAPTER 1.
  4. 4. Blockchain is a secure transaction ledger database. The ledger is decentralized, shared by all participants. It is created on top of a distributed network of computers. Blockchain enables anonymous exchange of digital value.
  5. 5. The technology removes the need for a central authority for trust verification and value transfer. Being decentralized, it enables safe, fast, cost effective transactions even though parties may not know who they are dealing with.
  6. 6. Decentralized Apps will come in different flavors, sizes and complexity levels, so we must be prepared for that variety, and we must see beyond the Bitcoin promise to be the Internet of money, and into the Blockchain’s promise to become a new development environment. William Mougayar
  7. 7. • Digital currencies • Crowd funding • Smart agreements (automated agreement execution) • Digital identity • Decentralized communication • Asset ownership BLOCKCHAIN USAGE EXAMPLES:
  8. 8. DIGITAL CURRENCIES CHAPTER 2.
  9. 9. Digital currencies are created and stored electronically. Virtual currencies are unregulated digital money. They are issued and controlled by its developers and are used by the members of a virtual community. Crypto currencies are a subset of digital currencies, using cryptography as part of their security.
  10. 10. Digital and crypto currencies are structured as a payment network. They are created on top of blockchain technology allowing parties to move value digitally, securely and quickly in a decentralized manner.
  11. 11. Bitcoin is the most known crypto currency, and is a consensus network that enables a new payment system, and a full scheme for digital money. It is the first decentralized peer-to-peer payment network, powered by its users and having no central authority.
  12. 12. I think Bitcoin may very well be the best form of money we've ever seen in the history of civilization. Wences Casares
  13. 13. The Bitcoin network is based on blockchain technology and uses the public ledger database. Bitcoin ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction.
  14. 14. DIGITAL IDENTITY CHAPTER 3.
  15. 15. Digital Identity is the data that uniquely describes a person / entity and contains information about the subject’s relationship. Technically it is a network used for identification in connections or transactions from digital devices.
  16. 16. The strength level of a digital identity given by the registration and authentication processes. Digital identity is based on: • Identity Verification • Personal Data • Authentication
  17. 17. Identity is the new money for banks. The bank should be the place where you store your identity. You can store your money anywhere. David Birch
  18. 18. OMNI-CHANNEL CHAPTER 4.
  19. 19. Omni-channel is a synchronized customer communication strategy. All channels are aligned in a single touch point for the customer and present one consistent way of doing business.
  20. 20. • Consistent services access across all channels; • 360 degree view of every customers; • Digital management of origination; • Reengineer the way you listen: listen everywhere, at once, and respond immediately; • Increase understanding of customers with analytics and take data driven decisions. KEY ELEMENTS OF AN OMNI-CHANNEL STRATEGY:
  21. 21. For banks, it is an opportunity to really understand the customer, streamline systems and focus attention on the most profitable. Alison Wilkes, General Manager, EMEA Banking Division, FIS
  22. 22. • Specialty branch • Virtual banking • Infomediary TOP OMNI-CHANNEL CONCEPTS IN FINANCE INDUSTRY:
  23. 23. CONTACTLESS PAYMENTS CHAPTER 5.
  24. 24. Contactless payment technology enables payment transactions via a contactless chip embedded in payment cards, tags, key fobs and mobile phones. The chip communicates with a reader device that uses radio frequency or Near Field Communication (NFC) standards.
  25. 25. Near Field Communication (NFC) is a short- range wireless (RF) communication technology for smartphones and similar devices enabling data transfer between the devices. NFC operates for contactless payments in card emulation mode, which enables devices to function as contactless smart cards.
  26. 26. NFC payments appear to be beneficial for financial institutions (card issuers and banks), NFC in-store phone payments offer continuity and improvement to their business models. The core advantage with any contactless smartphone transactions is the potential for greater security, when payments are made with phones featuring either built-in (via hardware or software) or SIM-based tokenisation capability. Deloitte Image: Flickr user Sebastiaan ter Burg
  27. 27. WEARABLE PAYMENTS CHAPTER 6. Image: Flickr user Cheon Fong Liew
  28. 28. Wearable describes electronic devices that can be worn on the body. They can be found today as intelligent fitness bands and smart watches, or glasses, but are being extended into fashion and jewelry as well.
  29. 29. Wearables enable contactless payment processes through Near Field Communication (NFC). The wearable device communicates directly to the network through inbuilt connectivity or can use Bluetooth to connect to the user’s phone to finalize the payment. Host card emulation (HCE) technology is used when it comes to the wearable device connecting to the mobile for finalizing payment.
  30. 30. The future of payment is wearable. Wearables are the new trend in the field of internet-based devices. Markus Braun, CEO of Wirecard AG Image: Flickr user Olabi Makerspace
  31. 31. READ MORE DOWNLOAD THE FULL WHITE PAPER
  32. 32. Maxcode Deliver your next finance or ehealth application. Maxcode is an IT service company building tailor made applications for the European market. We focus on financial and healthcare industries. Maxcode is located in The Netherlands with offices in Romania, and the Republic of Moldova. We are a modern company and a reliable partner for our customers and employees. Koninginnegracht 19 2514 AB Den Haag / The Hague The Netherlands info@maxcode.net
  33. 33. Disclaimer The materials in this document may contain inaccuracies or typographical errors. Maxcode does not warrant the accuracy, reliability or completeness of the materials, advices, opinions, statements or any other information displayed or distributed in this document. All information in this document is provided “as is” and “as available”, and shall not be binding nor shall it be construed as constituting any obligation, representation or warranty on the part of Maxcode. You acknowledge that any reliance on any information in this document shall be at your sole risk. Maxcode mentions others, their products and ideas as a convenience to you. Those others, products and ideas are not under the control of Maxcode. Accordingly, Maxcode makes no representation or warranty in relation to others, their products, or ideas, other than simply listing them as relevant for your consideration. By listing them, Maxcode is not endorsing or recommending them to you.

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