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Fintech A.M.: 30-12-2017

Looking back and looking forward  As the year comes to an end, there’s a lot to say about what’s been happening in fintech spaces, both in terms of what went on in 2017 and what’s to come in 2018. Yesterday, much of the news we highlighted dealt with a few of the many things that went down in 2017 and predictions for 2018. 2017: Year of the blockchain To say blockchain and its application in cryptocurrency have dominated headlines this year is an understatement. We’ve seen bitcoin peak at almost USD 20,000 and cement itself and cryptocurrency in the public conscience; however, despite this noteworthy achievement, 2017 has been a year where blockchain and cryptocurrency have seen more than a few problems with, for example, hundreds of millions of dollars being lost in hacks, breaches, wallet freezes, and scams. To this end, Coindesk complied the biggest blockchain and cryptocurrency disasters of 2017, and you can check them out here. Making it easier for fintechs in the EU In the new year, the EC is expected to propose a pan-EU fintech license to make it easier for fintechs to operate in Europe and be competitive with those in the U.S. and Asia. Since most member states have proprietary regulations for fintechs that are made without regard to continent-level needs, a pan-EU license should remove barriers for growth and help make Europe create a more cohesive digital market. Big data and AI  AI, much like bitcoin and cryptocurrency, became much of a buzzword in 2017 and companies have been spending big on AI; however, as Tom Macaulay writers in Computerworld UK, “the promised rise of the machines has thus far failed to materialise”. In terms of big data, data science has made significant progress in 2017, but data quality can at times be poor, thus in 2018 more attention will need to be given to data governance. For the more on data and AI trends in 2018, follow this link. Things you can bank on In the years after the financial crisis, banks weren’t exactly actively headhunting, but now they are. And they’re looking for those who have expertise in fintech in response to the changing landscape of banking. Besides fintech experts, digital strategists, cyber security specialists, and data managers are on the top of lists for new recruits. By Elliot Lyons, Research Analyst ]]>

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