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Fintech Public Narrative 2016-2017

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Fintech Public Narrative 2016-2017 FINANCIAL INNOVATION - PUBLIC NARRATIVE Ben Wolff September 2017 Director [email protected] 203-314-1450 © 2017 Proprietary and confidential. FINTECH IS REVOLUTIONIZING • The financial sector is rapidly transforming. AI, machine learning and automation are changing organizational structures, job roles / responsibilities and how services are being FINANCIAL provided to consumers. SERVICES: THE INDUSTRY IS • Personalizing the customer experience is key. Financial services firms that effectively TRANSFORMING, leverage machine learning (ML) to offer highly personalized solutions to their clients have a PROCESSES ARE competitive advantage. BECOMING DIGITIALLY • Small / medium enterprises and eCommerce businesses have a growing need ENHANCED AND for digital financial services solutions such as mobile payments, e-wallets and cryptocurrencies. INCREASINGLY AUTOMATED We used Quid to analyze and • Financial advisory is becoming more automated: “human + robot” frameworks are synthesize thousands of stories now perceived as industry standard / best practice. about digital transformation in the banking industry to better understand FinTech trends. • The market is growing for companies providing Machine Learning / Data Date range: August 30, 2016 to Analytics Solutions to financial services institutions to analyze customer data and provide August 31, 2017 personalized services. EXECUTIVE • Fintech is revolutionizing the traditional financial sector and those firms that choose to SUMMARY be on the forefront of innovation will lead the market into the future. THE MOST PREVALENT TOPICS IN FINTECH NEWS ARE BLOCKCHAIN, AI & ROBOTS, MOBILE PAYMENTS & WALLETS AND ROBO-ADVISERS Events & conferences (7.7%) Innovation initiatives & teams (4.4%) Topics Blockchain 22% Digital transformation ● (9.3%) Barclays digital safety (1.1%) AI & robots 14% AI & robots (14%) ● Retail customer ● Mobile payments & wallets 10% experience (4.7%) Chatbots & assistants ● Robo-advisers 10% (2.8%) ● Digital transformation 9.3% Blockchain (22%) Events & conferences 7.7% P2P payments (1.7%) ● ● Retail customer experience 4.7% Trust in technology Innovation initiatives & teams 4.4% (0.76%) ● ● Bitcoin & Ethereum 3.2% ● Chatbots & assistants 2.8% ● Banking mobile apps 2.1% Banking mobile Retail customer experience, Digital ● P2P lending 2.1% P2P payments, Mobile banking apps (2.1%) payments & wallets are very (1.3%) ● P2P payments 1.7% central to Fintech narrative, Bitcoin & having overlap/connections Ethereum ● Digital banking 1.3% with most other topics in the Mobile payments (3.2%) network. P2P lending (2.1%) Barclays digital safety 1.1% & wallets (10%) ● Robo-advisers (10%) ● Trust in technology 0.76% News article network with 2363 stories. Colored by topics. Sized by degree. Labeled by topics. Loan Market Applications & Sub-topics Japanese Trade Transaction Trials Corporate (10%) Banks Fund Axoni & Blockchain 38% Blockchain PoC ● Applications & Cross Border Payments (6.6%) Initiatives (19%) Cross Border DETAIL 19% ● Payments Trade Finance Deals Loan Market Applications & (6.6%) 10% ● Japanese Trade Transaction Trials Banks Fund Axoni BLOCKCHAIN BREAKS 6.6% ● & Blockchain PoC INTO A NUMBER OF SUB- Trade Finance 6.6% TOPICS FROM Patents (4.5%) ● Deals SYNDICATED LOANS IN Central Banks & 4.7% Central Banks & ● Digital Currency JAPAN TO TRADE Digital Currency PLATFORM INITIATIVES (4.7%) ● Patents 4.5% Corporate Blockchain Trade Platform Applications & ● 4.3% Within Blockchain news, the main KYC (2.8%) Initiatives topics reported on are trade Initiatives (38%) finance / platforms, financial deals ● KYC 2.8% clearance, and patent activity. Market Data via Blockchain Market Data via Trade Platform Initiatives ● 1.7% (1.7%) (4.3%) Blockchain News article network with 530 stories. Colored by sub-topics. Sized by degree. Labeled by sub-topics. CITIGROUP, BOA AND JPMORGAN ARE MENTIONED THE MOST IN THE CONVERSATION AROUND FINANCIAL INNOVATION Topics PERSON TOP THEMES ASSOCIATED WITH COMPANY Blockchain 22% ● Citigroup Retail customer experience AI & robots 14% ● Bank of America P2P payments Mobile payments & wallets 10% ● JPMorgan Chase Blockchain Robo-advisers 10% ● Goldman Sachs Blockchain Digital transformation 9.3% Barclays ● Blockchain ● Events & conferences 7.7% Wells Fargo Mobile payments & wallets ● Retail customer experience 4.7% UBS Blockchain Innovation initiatives & teams 4.4% ● HSBC AI & robots Bitcoin & Ethereum 3.2% ● Thomson Reuters Blockchain Chatbots & assistants 2.8% ● Deutsche Bank Innovation initiatives & teams ● Banking mobile apps 2.1% Credit Suisse Blockchain ● P2P lending 2.1% Bloomberg AI & robots ● P2P payments 1.7% Blackrock Robo-advisers ● Digital banking 1.3% USAA Chatbots & assistants ● Barclays digital safety 1.1% Capital One Digital transformation ● Trust in technology 0.76% 0 20 40 60 80 100 120 News article bar chart with 1066 stories. Colored by topcs. BOA, CITI AND BARCLAYS EXECUTIVES HAVE THE HIGHEST NUMBER OF MENTIONS IN THE FINANCIAL INNOVATION MEDIA NARRATIVE PERSON POSITION TOP THEMES ASSOCIATED WITH PERSON Michelle Moore Head of Digital Banking at Bank of America P2P payments Ashok Vaswani Barclays UK CEO Barclays digital safety Brian Moynihan Bank of America CEO Digital banking Alice Milligan Chief customer and digital experience officer for global cards Banking mobile apps and consumer services, Citi Anthony Strzalek Journalist Blockchain Barry Rodrigues Head of Digital Payments, Citi Mobile payments & wallets Elly Hardwick Head of Innovation at Deutsche Bank Innovation initiatives & teams Chris Lemmon Journalist Blockchain Emmanuel Aidoo Head, distributed ledger, Credit Suisse Blockchain Ian Rand CEO of Business Banking at Barclays Banking mobile apps Jamie Dimon JPMorgan Chase CEO Robo-advisers Patrick Olson COO of EMEA at BlackRock Robo-advisers Managing Director and Head of Trade & Working Capital for Baihas Baghdadi Blockchain EMEA at Barclays Blythe Masters Digital Asset Holdings CEO Blockchain David Rutter R3 Chief Executive Blockchain 0 5 10 15 20 25 News article bar chart with 179 stories. Colored by topics. BLOCKCHAIN - Harnessing scale to drive successful digital transformations HAS BEEN - EVP Judson Althoff: How to make your digital difference WRITTEN ABOUT AND Digital transformation Blockchain SOCIALLY AI & robots SHARED THE MOST OVER - Charles Schwab launches hybrid human-robo financial - Big Banks Are Stocking Up on THE PAST advice Blockchain Patents YEAR - EVP Judson Althoff: How to make your digital difference - Banks seek to invest $59 million in blockchain startup R3: source After Blockchain, AI & Robots - Goldman, JPMorgan to invest in and Digital Transformation are blockchain startup Axoni the topics with the highest Robo-advisers social engagement scores. Mobile payments & wallets Following Blockchain, the next Bitcoin & Ethereum most republished topics are Chatbots & Events & Conferences, Mobile assistants Retail customer experience Events & conferences Payments & Wallets and Robo- Innovation initiatives & teams advisers P2P payments Barclays digital safety News article scatterplot aggregated into 16 topics. Colored by topic. Sized by story count. Labeled by topic. FINTECH NEWS COVERAGE IS ON THE RISE IN 2017 WITH DISCUSSIONS AROUND AI, ROBOTICS & ROBO-ADVISORS GROWING THE MOST WHILE THE PROPORTION OF BLOCKCHAIN STORIES HAS SLIGHTLY DECREASED SINCE 2016 Topics ● Blockchain 22% AI & robots 14% Starting from June 2017, articles about Bitcoin ● - BlackRock takes Scalable Capital stake in Europe & Ethereum have seen rise in numbers, which Mobile payments & wallets 10% "robo-advisor" push wasn’t the case before ● - HSBC is latest bank to offer 'robo-advice' to ● Robo-advisers 10% investors Digital transformation 9.3% - Deutsche Bank wealth management unit to hire, ● invest more than S$100m in digital tech ● Events & conferences 7.7% ● Retail customer experience 4.7% ● Innovation initiatives & teams 4.4% ● Bitcoin & Ethereum 3.2% ● Chatbots & assistants 2.8% ● Banking mobile apps 2.1% ● P2P lending 2.1% ● P2P payments 1.7% ● Digital banking 1.3% ● Barclays digital safety 1.1% ● Trust in technology 0.76% News article timeline with 2363 stories. Colored by topics. APPENDIX TOPIC SUMMARY (1/2) TOPICS MAIN IDEAS TOP KEYWORDS • Blockchain & FinTech • Digital currency • Payments & syndicated loans blockchain technology, trade, members, project, • Patents • Syndicated loans in Japan coindesk, applications, initiative Blockchain • Trade platform initiatives • Equity swaps Blockchains, cross border, dlt, border, ibm • KYC • Trade finance deals • Artificial Intelligence and Machine Learning • Robots replacing fund managers Ai, machine learning, machine, artificial, AI & robots transforming jobs within financial services • Teaming up with AI to combat money laundering artificial intelligence, learning, intelligence, • AI delivering personalized banking experience • AI helping to make investment decisions. Robots, robot, humans, jobs, robotics Mobile payments • Rolling out new digital payment solutions • Banks launching their own digital wallets Card, payment, pay, cards, mobile wallet, • Launching new mobile payment app • Mobile banking getting faster merchants, mobile app, smartphone, credit card, & wallets • Card-free ATMs • Mobile wallet for corporate accounts phone, devices, citi, launch, cash Robo, wealth, uk, launch, online investment, • Robo advice getting human • Robo advisers with human element advice service, management business, tax, Robo-advisers • Banks building own robo advisers Europe, plans, independent, accounts
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