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The Future of Finance: The Impact of FinTech, AI, and Crypto on Financial Services
This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like.
- GenresFinanceTechnology
312 pages, Hardcover
Published July 24, 2019
63 people are currently reading
217 people want to read
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Displaying 1 - 10 of 10 reviews
March 8, 2020
So,
An entertaining dive into the world(s) of:
- quantum computing
- fintech
- crypto-stuff
- AI
- wearables & body as interface
- legacy tech debt (COBOL)
- self-driving finance
- low friction optimization
- auditing
and other fun half-futuristic things that are already here.
Q:
... the fintech revolution, the advent of crypto-assets, and the rise of artificial intelligence (AI). (c)
Q:
Experimentation in the field of quantum computing seeks to deliver new computational capabilities by harnessing the complex, and often counterintuitive world of properties of subatomic particles, through a branch of physics called ‘quantum mechanics’. These subatomic particles don’t behave in the same way as physical objects in our daily activities, which have well-defined positions and characteristics. Instead, subatomic particles exhibit a property called ‘super-position’ where they can effectively exist in multiple places at the same time.
This property turns out to be important for computing. Traditional computers, from the most basic calculator to the most powerful supercomputer, all perform calculations using something called ‘binary code’ where all data is encoded as a series of ones or zeros called bits. A quantum computer also uses ones and zeros, but through ‘super-position’, a quantum bit, or qubit, can in some sense be one and zero at the same time. (c)
Q:
Extensive research is currently underway to develop a quantum computer by large firms such as Google, IBM, and Microsoft as well as small specialists such as Rigetti, IonQ, and Dwave. (c)
Q:
anti-money laundering (AML ) processes at financial institutions, where up to 80% of costs are headcount-related. Today, these processes can be highly manual and inaccurate. In some circumstances, the false positive rate for transactions—where the system incorrectly flags a legitimate transaction as suspicious—can exceed 90%.
...
In the United States alone, banks collectively spend more than US$50 billion each year on AML compliance. However, in spite of this expenditure, global money laundering transactions are estimated to total US$1–2 trillion dollars a year, with less than 1% seized by authorities. This suggests that in spite of all of the time and expense dedicated to compliance with these regulations, current efforts to limit money laundering are failing. (c)
Q:
In response to all of these issues, financial institutions began looking for more innovative ways to face the challenges imposed by their evolving and ever-increasing compliance needs. Many believe they found the answer in regulatory technology (regtech), which refers to the use of new technology to solve compliance burdens more effectively and efficiently.(c)
Q:
An entertaining dive into the world(s) of:
- quantum computing
- fintech
- crypto-stuff
- AI
- wearables & body as interface
- legacy tech debt (COBOL)
- self-driving finance
- low friction optimization
- auditing
and other fun half-futuristic things that are already here.
Q:
... the fintech revolution, the advent of crypto-assets, and the rise of artificial intelligence (AI). (c)
Q:
Experimentation in the field of quantum computing seeks to deliver new computational capabilities by harnessing the complex, and often counterintuitive world of properties of subatomic particles, through a branch of physics called ‘quantum mechanics’. These subatomic particles don’t behave in the same way as physical objects in our daily activities, which have well-defined positions and characteristics. Instead, subatomic particles exhibit a property called ‘super-position’ where they can effectively exist in multiple places at the same time.
This property turns out to be important for computing. Traditional computers, from the most basic calculator to the most powerful supercomputer, all perform calculations using something called ‘binary code’ where all data is encoded as a series of ones or zeros called bits. A quantum computer also uses ones and zeros, but through ‘super-position’, a quantum bit, or qubit, can in some sense be one and zero at the same time. (c)
Q:
Extensive research is currently underway to develop a quantum computer by large firms such as Google, IBM, and Microsoft as well as small specialists such as Rigetti, IonQ, and Dwave. (c)
Q:
anti-money laundering (AML ) processes at financial institutions, where up to 80% of costs are headcount-related. Today, these processes can be highly manual and inaccurate. In some circumstances, the false positive rate for transactions—where the system incorrectly flags a legitimate transaction as suspicious—can exceed 90%.
...
In the United States alone, banks collectively spend more than US$50 billion each year on AML compliance. However, in spite of this expenditure, global money laundering transactions are estimated to total US$1–2 trillion dollars a year, with less than 1% seized by authorities. This suggests that in spite of all of the time and expense dedicated to compliance with these regulations, current efforts to limit money laundering are failing. (c)
Q:
In response to all of these issues, financial institutions began looking for more innovative ways to face the challenges imposed by their evolving and ever-increasing compliance needs. Many believe they found the answer in regulatory technology (regtech), which refers to the use of new technology to solve compliance burdens more effectively and efficiently.(c)
Q:
November 26, 2020
I quite enjoyed the whole thing. Learnt a bit.
July 15, 2024
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May 23, 2021
Written by AI specialist and a university professor, and a banker, the book discusses in reasonable detail a wide spectrum of elements including crypto, AI, with respect to current financial market structure. It was a good read for me, and I will definitely reread certain parts of the book for a better understanding.
June 13, 2020
Exactly what I needed
Beautifully explained with both data as well as extrapolation into the future. For a techie exploring the enigmatic world of Fintech this book will provide the necessary vision and data.
Beautifully explained with both data as well as extrapolation into the future. For a techie exploring the enigmatic world of Fintech this book will provide the necessary vision and data.
April 28, 2022
a treasure trove of information.
If this insightful book doesn’t cause you to take stock of the world around you and how it operates, I’m not anything will.
Plenty of food for thought contained there-in.
An enlightening read from cover to cover.
If this insightful book doesn’t cause you to take stock of the world around you and how it operates, I’m not anything will.
Plenty of food for thought contained there-in.
An enlightening read from cover to cover.
March 30, 2023
Quite a good introduction to the FinTech arena. Not as good as "Bad Money" by Brad Rigden.
It was understandable and easy reading. A few historical inaccuracies but overall worthwhile.
I may give some of the author's other books a try.
It was understandable and easy reading. A few historical inaccuracies but overall worthwhile.
I may give some of the author's other books a try.
April 6, 2023
Good introduction into the world on Fintech, AI and Crypto.
A few errors in factual statements but overall a good read. There are better book out there but still worthy of a read.
Recommended.
A few errors in factual statements but overall a good read. There are better book out there but still worthy of a read.
Recommended.
February 25, 2024
I liked this book as an intro to Fintech. A good effort. 3/5
Read
November 2, 2025read just for the sake of reading. Boring at times, hardly read up.
Displaying 1 - 10 of 10 reviews