Our weekly Required Fintech Reading curates the best fintech pieces of the week so you don't have to go digging for them on your own. Enjoy!
Investment in fintech startups soars
Finextra shows that investment in fintetch is on the rise and will only speed up in 2015. Look for big things ahead as banking becomes more and more digital.
"Fintech firms around the world raised $6.8 billion in funding in 2014, a three-fold increase on the previous 12 months as the sector enjoyed a banner year that also saw its first IPOs and a host of startups joining the billion dollar club."
Content Marketing at the Branch Level
Robin L. Williams talks about the need for banks and credit unions to store all their marketing and outreach materials in a central repository that can also help with distribution. He says that a study from SiriusDecisions shows that as much as 70 percent of marketing material doesn't ever get used. A Content Distribution Management system can help solve this problem by letting marketers see everything that's available to send and which items are most effective in meeting their goals.
Barclays puts the branch on the iPad
The enormous banking retailer has started a trial run with 50 bankers, who will now be able to "set up a branch remotely using just their iPad and Wi-Fi or 3G connection, to carry out many traditional branch transactions including money transfers, changes to personal details or account openings." There are some cool possibilities here, including setting up a branch at home showcasing events or on campuses during the first week of college.
Digitally Minded Bank Goes All-In on Responsive Design, Moven
American Banker's Penny Crosman tells of how Westpac New Zealand has started an initiative that includes responsive design, allowing account holders to experience the same look and feel whether they're on phone, tablet, or desktop. Westpac is also incorporating Moven's money management tools. Crosman quotes Jacob Jegher, senior analyst at Celent, who says, "If you're going to accept digital is the way of the future, this is part of your cost of doing business. I think we'll see a lot more responsive design. It will take a few years to fully catch on."
8 Astonishing Facts Bankers Should Know About Millennials
If you're looking for statistics that will help you understand the needs of millennials, look no further than this post from Jim Marous of The Financial Brand. Marous shows that 80% of millennials check their balances on a digital device and that they're ten times as likely to use a P2P lender for loans and investments. Anyone interested in the future of banking should take note.