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@JamesPiggot:

TY for your kind words. Yes, I did promise to explain why I think AXA Fizzy is on Blockchain in a follow-on post. But, a week after I made that promise, I'm still not able to find any compelling reasons for Blockchain and am literally losing sleep over the follow-on post:(. Statements like "...the Ethereum Blockchain is public, any crypto developer can therefore check the validity of the information we store there." on the FAQ page of AXA Fizzy's website are not making my job any easier. 

"If they had to pay out for every late arrival then they have to charge more for our journeys, hence they have our best interests at heart!": ROTFL:)

There's a slight difference though: In the case of AXA Fizzy - and a couple of other Blockchain-based flight delay insurance companies - you need to pay money to buy the insurance policy, only then you'll get the compensation automatically (in your credit card account). I think the premium will help our "wonderful institutions" to keep their best interests at heart, too! That's why I predicted that "AXA Fizzy ... could potentially create a manifold increase in the size of the market for travel insurance products."

@CharmaineOak:

TY for your kind words.

That line is stated from insurance buyer's p.o.v. A genuine buyer would be quite offended if the insurer thinks their claim is fraudulent. A fraudulent buyer would be very offended:)

While I'll be covering the insurance carrier's p.o.v in the next installment, a few quick observations: (1) Tech is quite widely used in credit card fraud detection and prevention (2) I know at least two providers of tech for insurance fraud detection (3) In both cases, human intervention is used alongside tech (4) In case of this specific insurance product, the claim event is flight delay, which is in the public domain and outside the scope of defrauding by insurance buyer. 

Where do you see scope for fraud by buyer?

@RamdasNarayanan: TY for your kind words. Hope this articles sparks off some potential use cases of Blockchain in your domain of mortgage!

You mean there aren't already a "few killer and heavily promoted ‘apps’ ... that will excite consumers and show them the potential benefits of the platform/ecosystem..."? Then what exactly is going to happen on 13 January?

A year ago, I'd felt that, compared to the valuation given to PayTM by Ant Financial, the MoneyGram deal is a steal. Looks like the US regulator also thinks it's a "steal", just of another type!

@JamesPiggot: Good point. By "up to date", are you saying that your individual finserv websites ask you to change your password every N days or so? (In India, by RBI mandate, N = 90 days). If so, I see the same friction hitting all the PSD2-triggered PFMs as well. Going by my experience with using aggregator platforms like HootSuite, I can bet that these PFMs will also use the same creds as your online banking creds even if it's only to access APIs. Another set of creds for API access is too much friction and will be a non-starter.

On Open Banking: Consent is Key, I'd raised the subject of MINT-like PFMs who have been merrily using login credentials for 10+ years. In response, an anonymous Finextra Member had pointed out that it's illegal for a TPP to perform screen scraping under PSD2. In that case, why should NatWest amend its T&Cs to warn customers that they're liable for fraud losses if they share their login details with TPPs? Shouldn't such TPPs be illegal under PSD2 in the first place??

At the end of Innovative Fintechs Don’t Need No PSD2 Regulation,  I'd wondered how fintechs would react if Open Banking requires them to share their customers' info with banks.   

The way Barclays is openly encouraging its customers to view their accounts with other providers via Barclays Mobile Banking app, it looks like my idle conjecture has now become a clear and present danger.

I've seen complaints on LinkedIn that Zebpay, India's largest Bitcoin exchange, is dilly dallying with customers' requests to "cash out" i.e. convert BTC to INR (India's fiat currency).

Dear @Citi: Feel free to use my feedback at A Killer Feature For PFM On The Eve Of PSD2.