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IBS Journal March 2018


IN THIS ISSUE MARCH 2018 / ISSUE 28.11


Chairman, Cedar Sanjiv Anand Email: sanjiva@ibsintelligence.com


Senior Editor Bill Boyle Tel: +44 7909 954 991


Email: billb@ibsintelligence.com


Senior Fintech Reporter Alex Hamilton Tel: +44 7555 518 679


Email: alexanderh@ibsintelligence.com


Junior Fintech Reporter Henry Vilar Tel: +44 7747 357 769


Email: henryv@ibsintelligence.com


Design & Production Simon Turner Email: simon@west-hill.co.uk


Advertising Sales Manager Angus Chapman Tel: +44 7958 691 538


Email: angusc@ibsintelligence.com


Senior Account Executive Cristian Tarcatu Tel: +44 7764 838 741


Email: cristiant@ibsintelligence.com


Account Executive Rushikesh Dixit Tel: +91 9820 888 569 Email: rushikesh.dixit@ibsintelligence.com


Account Executive Ridhie Kheria Tel: +91 7208 306 364


Email: ridhiek@ibsintelligence.com


Marketing Manager Abhijit Chakravarty Tel: +91 7718 868 804 Email: abhijitc@ibsintelligence.com


Digital Marketing Manager Shadab Khan Tel: +91 9920 739 363


Email: ShadabK@ibsintelligence.com IBS Intelligence


A Division of Cedar Management Consulting International LLC, Tel: +44 2075 202 630


UK/Europe Lenta Business Centre, Suite 105, 180-186 Kings Cross Road, London WC1X 9DE, UK


Americas 55 W. Jackson Boulevard, Suite 557 Chicago, IL 60604, US


ISSN: 0965-674X


TANDEM BANK REGULARS


Editor’s note


Startup of the month: Coconut On the move


The month in fi gures


What they’ve been saying Who’s bought what Backchat | Diary


05 42 44 47 48 49 50


Warburg Pincus pays $395m for 55% stake in Fiserv lending business Cyberattack breaches on fi nance houses triple in fi ve years Agility is essential and blockchain not a priority to SMB survival Australian banks power up with new real-time payments system Hong Kong Monetary Authority releases challenger bank guidelines African countries embracing digital as fi ntech transactions fl ourish London banks should move fast to avoid Brexit backlash, warns ECB Cryptocurrency takes another hit as banks ban purchases on credit cards News analysis: Ripple network a big step for Gulf fi ntech development Event: Can’t stop the block – or can you?


07 08 09 10 11 12 13 14 16 17


News analysis: Facebook is pushing the crypto market to a regulated future 18 News analysis: What are the unintended consequences of 871(m)? Interview: Xpress Money COO Sudhesh Giriyan talks remittance Opinion: Is biometrics the new gold standard of security?


19 20 46


FEATURE FOCUS - DIGITAL BANKING How to secure customer data in a mobile world


The challenge facing the neo-banks


Making sense of the complexity that is omnichannel The steps required to make a success of a digital bank


BIG INTERVIEW: RICKY KNOX 38


03


24 27 31 33


www.ibsintelligence.com


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