This Week in Fintech ending 3 April 2020

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this week in Fintech .001

This weekly summary from our 5 experts, brings you insights based on their experience as investors, entrepreneurs & executives.

Ilias Hatzis started his first company, an internet search engine, during the dot-com era & now focusses on crypto.

Efi Pylarinou worked for top tier Wall Street firms and is now a top global Fintech influencer.

Jessica Ellerm is CEO of Zuper Superannuation & previously worked for a top Fintech startup, Tyro.

Patrick Kelahan is a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners.

Sheldon Freedman is a Fintech lawyer at Hassans International Law Firm

Bernard Lunn is the CEO and Editor of Daily Fintech and author of The Blockchain Economy.

If you want to continue receiving This Week in Fintech, you can either become a paying Member for $143 per year (and receive all our content in addition to this weekly summary) by clicking here.  If you just want to receive This Week in Fintech for free, you will need to fill in this form. Or fill in the same sign up form at the bottom of this post.

Your Editor is Bernard Lunn. He is also the CEO of Daily Fintech and author of The Blockchain Economy.

Monday Ilias Hatzis @iliashatzis our Greece-based crypto entrepreneur (Founder & CEO at Mercato Blockchain Corporation AG and Weekly Columnist at Daily Fintech) wrote Coronavirus will shape the next decade. Will we prep before the next one?

Everywhere people are dying, global lockdown and massive government intervention. The coronavirus pandemic is disrupting global industries and supply chains, causing disastrous problems for businesses, consumers and the global economy. Just like the disease is killing older people at high rates, it is also about to kill mature western economies. Businesses are struggling to produce and distribute products and services, that consumers depend on. The coronavirus outbreak has limited our ability to produce and consume goods. Its financial ramifications are already severe and will only get worse. 

Editor note: Ilias identifies the problem “This is not just a health pandemic, it’s a pandemic of fear and mistrust” and then goes on to look at how Blockchain and IOT  based data networks could provide more trusted data for future pandemics.

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Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser,  founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019 wrote A Buoyant Digital coin at a tender age – Ndau

The Ndau (XND) is a stateless Buoyant digital currency with a built-in design to act as a store of value, is less known as it is not conducive to pump and dump. It was launched 2 yrs ago out of  the Cayman Islands.

It is more actively traded on BitMart exchange with a presence in New York, China, Hong Kong, and Seoul. According to Cointelligence, BitMart is included in the top 20 exchanges by volume.

Editor note: Efi takes an early look at what could be a new stateless digital currency. If it can become both a store of value and a unit of account this will be a very big deal. 

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Wednesday Jessica Ellerm @jessicaellerm, our Australia-based Fintech entrepreneur and thought leader specializing in Small Business and the Gig Economy & CEO/Co-Founder of Zuper, a new superannuation startup in Australia wrote ‘Know Thy Customer’ A Key Trend Going Forward in Fintech Innovation For SMEs

The world is rapidly becoming a very different place and businesses will need to adapt fast to survive. Never has the phrase ‘survival of the fittest’ been so literal, for so many.

Over the coming months (or years?) many businesses will encounter survival pains that would have been unthinkable several months ago. How the fintech community responds to these challenges will also make or break many new startups in this space.

Editor note: Jessica has identified one of those big opportunities coming out of the Coronavirus crisis, which is how small business can make genuine connections with their customers without that lovely old face to face time. Not an easy one, but a big one.

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Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert (a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners who also serves the insurance and Fintech world as the ‘Insurance Elephant’) wrote The best product insurers provide is empathy. It’s been missed in COVID-19 response.

Strategy sessions begin now for the insurance industry- addressing coverage gaps, policy forms, staff utilization, remote working methods, customer engagement, scalability of digital methods, virtual claim adjusting techniques, parametric products, and business interruption cover among others, and the big challenge of the insurance world- systemic risk.

 And the big, big elephant in the room- selling empathy as a key deliverable.

 Outside of health cover being broadened in most countries, there are few COVID-19 positives the insured public have seen recently from the insurance industries, and several negatives.

How to avoid repeating the COVID-19 outcome?  Learning starts now. 

Editor note: Pat raises a risk subject that should be top of the agenda for Insurance Boards – reputation risk.

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Friday  Sheldon Freedman, Fintech lawyer at Hassans International Law Firm

wrote: Security Token news for Week ending 3rd April 2020

Editor note: This weekly snapshot is the news that matters for busy senior people in the Security Token market.

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