Fintech Digest: Fintech investments reached $ 57 billion, transaction speed increases, and cost decreases

Hi, Habr.

Today we have this:

• Global investment in financial technology has reached $ 57 billion;
• The cost of transactions gradually falls, their speed increases;
• Alfa-Bank plans to save millions of rubles on process robotization;
• Ex-SEO PayPal calls Bitcoin a “zero-cult cult”;
• Crypto and fintekhkompanii come.

Investments in fintech beat records

The KPMG Pulse of Fintech report showed a rapid growth in investment in the FINTECH sector. In total, in the first half of this year, global investments in the fintech industry grew to $ 57.9 billion. For the entire last year, the same indicator was only $ 38.1 billion.
')


The rapid growth of FINTECH is due to several large transactions, including an increase in Ant Finance's capitalization in the second quarter of 2018 to $ 14 billion, and the acquisition of WorldPay by Vantiv for $ 12.9 billion in the first quarter of 2018. The total number of large transactions amounted to 875.

Transaction rate is growing faster

Yes, these are the results of a study conducted by Visa. The project itself was named “Non-cash cities. The benefits of electronic payments.

Among the main conclusions made by the project participants, it is worth highlighting the following:

• The growth of mobile financial services;
• Switch to open banking;
• Testing blockchain technology;
• Acceleration and cheaper transactions.

China is especially active in terms of developing mobile payments. In this country, the indicator of the volume of mobile payments has increased 50 times since 2013. In addition, here, as in other states, QR codes are widely used for conducting transactions.

Alfa-Bank will be able to save up to 85 million rubles a year on robotization

We robotized a number of routine operational processes. As a result, productivity has increased, and the number of errors has decreased. At the same time, robots perform the same actions with different bank systems - similar actions were performed earlier by operators. But, unlike them, robots function around the clock, and the work is performed without errors.

If we talk about the potential of the development of RPA-technologies in the bank, then the next possible step is intelligent automation (intelligent automation) - expanding the capabilities of RPA-technologies by means of machine learning and artificial intelligence

- Alexey Ammosov, consulting company (“Ernst & Young”).

Now seven operational processes are robotic. The robotic program will last until the end of 2018. After completion, about 30 processes will be performed altogether without human intervention.

Former CEO of PayPal called Bitcoin "zero"

Bill Harris is a famous bitcoin hater. He criticizes him quite often. This time he called the cryptocurrency "cult", the value of which "tends to zero." This businessman told during a conversation with cryptocurrency entrepreneur Brian Kelly.

Harris believes that Bitcoin will end up “closer to zero,” since there is no value in it. In his opinion, a cryptocurrency is not a solution to the problem of the rapid movement of money between different countries. On the contrary, instead of Bitcoin, you need to use faster networks.

At the end of the speech, Harris stated the following: “In the case of Bitcoin, I cannot find a single jujaseys, except for criminal activity.”

Cryptocurrencies are starting to attack banks

So says the former head of the sales department of a large Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) and former employee of JP Morgan Salvador Casquero. In his opinion, banks are now dealing with fast and flexible companies that are optimized in terms of flow, resources, business models and adapted to specific products.