FinTech For Dummies

Examine the depth and breadth of financial technology

This comprehensive, hands-on guide is the go-to source for everything you need to confidently navigate the ever-changing scene of this booming industry. FinTech For Dummies will shed light on this rapidly changing landscape making it an invaluable source of information for anybody working in or interested in this space. This book provides insights, knowledge and guidance from industry experts Steve O'Hanlon and Susanne Chishti on the following:

• Gaining insight fastest growing market segment of the financial markets

• Learning the core decision making to effect a growth plan

• Securing knowledge of the fastest growing fintech companies in the world

• Navigating the fintech world

• The ingredients into building a FinTech company

Autorentext

Steven O'Hanlon, president and CEO of Numerix, LLC and was 2016's FinTech Person of the Year.

Susanne Chishti is the CEO of FINTECH Circle, the leading global FinTech community focused on FinTech investments and corporate innovation strategies and courses.

Zusammenfassung

Examine the depth and breadth of financial technology

This comprehensive, hands-on guide is the go-to source for everything you need to confidently navigate the ever-changing scene of this booming industry. FinTech For Dummies will shed light on this rapidly changing landscape making it an invaluable source of information for anybody working in or interested in this space. This book provides insights, knowledge and guidance from industry experts Steve O'Hanlon and Susanne Chishti on the following:

• Gaining insight fastest growing market segment of the financial markets
• Learning the core decision making to effect a growth plan
• Securing knowledge of the fastest growing fintech companies in the world
• Navigating the fintech world
• The ingredients into building a FinTech company

Inhalt

Introduction 1

About This Book 1

Foolish Assumptions 2

Icons Used in This Book 2

Beyond the Book 3

Where to Go from Here 3

Part 1: Getting to Know Fintech 5

Chapter 1: Navigating the FinTech Landscape 7

What Is FinTech, Anyway? 8

Analyzing FinTech's Dimensions 10

Understanding What Has Changed in FinTech 13

Highlighting the Size of Global FinTech 15

Discovering a Few Important FinTech Terms 18

Chapter 2: Understanding What's Disrupting the Financial Industry (and Why) 21

Providing Trust and Value 22

Trust 22

Value 23

Weighing Wall Street against Silicon Valley: Where Disruptors Live 25

Examining the Role of BigTech 28

BigTech and payment platforms 28

BigTech partnership opportunities 29

How BigTech can help utilize data 29

Barriers to greater BigTech participation 30

Understanding Where the Disruptions are Happening 32

Banks 33

Asset managers 34

Insurance 34

Regulation and legal work 35

Payments 36

Looking for the Opportunities 36

Partnership opportunities 36

Exploiting digitalization with AI 37

Enhancing data portability 37

Chapter 3: The Role of Regulation in FinTech 39

Supervising FinTech 40

Understanding that location matters 40

Recognizing that more regulations are coming 42

Leveling the playing field 42

Examining Vendor Risk Issues 44

Introducing the Regulators 45

The United States of America 45

The United Kingdom and Europe 47

Investigating Regulatory Changes 51

Payment Services Directives 51

The General Data Protection Regulation 52

Highlighting RegTech Opportunities 55

Part 2: Learning the Technology 57

Chapter 4: Defining the Tech Underpinning FinTech 59

Finding a Fix in FinTech 60

What's the problem? 60

Why FinTech now? 61

Creating API Strategies 62

Understanding the concept 62

Looking at API benefits 63

Developing an API strategy 64

Including REST and RAML 65

Trying tips for API success 66

Reviewing APIs and security vulnerabilities 66

Understanding Event-Driven Software 67

Testing and implementation 69

Language support 70

Building on Agile: Microservices and More 71

Waterfall development 71

Agile design 73

Microservices 74

Bundling Efficiencies: Batch Processing 80

Improving Data Management 81

Distinguishing the types of data 81

Validating, enhancing, and cleansing data 83

Making enterprise data management more efficient 83

Working with CPUs and GPUs 85

Comparing CPUs and GPUs 85

Planning for success 86

Estimating the potential improvement 87

Choosing a Programming Language 88

Python 89

Julia 91

R 92

Chapter 5: Confronting the Compute Conundrum 93

Determining Compute Requirements 93

In-memory computing 94

Virtualization 95

Making Sense of DApps 95

Comparing DApps to traditional applications 96

Understanding blockchain 99

Knowing where to find DApps 100

Connecting DApps, Artificial Intelligence, and FinTech 102

Looking at permissioned blockchain 103

Understanding Quantum Computing 104

How quantum computing works 105

The drawbacks of quantum computing 106

How quantum computing fits into FinTech 107

Chapter 6: Calling Up the Cloud 109

Getting to Know the Cloud 110 Lo...