itBit Named to 2016 FinTech 100 by H2 Ventures and KPMG   
The Fintech 100 report, by H2 Ventures and KPMG,  gives an in-depth look into global companies that are taking advantage of technology and driving disruption within the financial services industry.
          New digital venture fund from Orange   

Orange is strengthening its corporate venture strategy by creating a new Africa section in its flagship programme for investment in startups, Orange Digital Ventures. It will look at projects in Africa in areas such as new connectivities, Fintech, the internet of things, energy and e-health.


          ftcash selected for Mastercard Start Path program   
Mastercard Start Path is a global effort to support later-stage fintech and tech startups who are shaping the future of commerce.
          SBS Bank partners with FinTech to provide digital banking platform   

SBS Bank has partnered with Sandstone Technology to deploy a new digital banking platform to facilitate an anywhere, anytime banking experience for the bank’s Members.


          CESA 2017: Nominacije za najbolje startupe i investitore otvorene do 20. lipnja   

Online nominacije za Central European Startup Awards bliže se kraju te je ovo zadnja prilika za startupe, investitore te akceleratore i coworking prostore da se prijave za sudjelovanje u jednoj od 12 kategorija, od najboljeg fintech, AI ili IoT startupa, ali i najboljeg coworking prostora ili akceleratorskog programa.

Post CESA 2017: Nominacije za najbolje startupe i investitore otvorene do 20. lipnja je prvi puta viđen na Netokracija.


          Winactie voor startups   
Startups kunnen tussen 6 juni en 4 juli één dag testen in het User Experience Center van de Rabobank winnen. Inclusief begeleiding en advies van onze experts. Er zijn straks twee winnaars: één uit de FinTech- en één uit de Food&Agri-sector.
          Sales Development Manager (m/w) // ARGO Trade Solutions GmbH   

Jemals davon geträumt eine ganze Industrie zu verändern? ARGO ist eine der innovativsten Möglichkeiten Handelstransaktionen zu finanzieren sowie abzusichern. Unsere Online-Plattform verbindet weltweit Käufer mit Verkäufern und hilft KMUs sich auf ihr Kerngeschäft zu fokussieren. Das Konzept wird von Lakestar, einem weltweit führenden VC-Fond unterstützt und gilt branchenintern als eines der interessantesten, jungen FinTech Unternehmen. […]

Check out all open positions at http://BerlinStartupJobs.com


          DevOps-/Senior Software Engineer (Berlin, Germany) // Finiata GmbH   

Finiata – previously knows as Blackbill – is one of the best funded ( > 6mn in first 6 months of operations), fastest growing and most dynamic oriented Fintech startups out there right now. A group of experienced Fintech founders (e.g. Kreditech and top tier investors Point9 Capital, Fly Ventures; DN Capital) are building the […]

Check out all open positions at http://BerlinStartupJobs.com


          Frontend Developer (m/f) in Berlin, Germany // Finiata GmbH   

Finiata – previously knows as Blackbill – is one of the best funded ( > 6mn in first 6 months of operations), fastest growing and most dynamic oriented Fintech startups out there right now. A group of experienced Fintech founders (e.g. Kreditech and top tier investors Point9 Capital, Fly Ventures; DN Capital) are building the […]

Check out all open positions at http://BerlinStartupJobs.com


          Ruby on Rails Developer (m/f) in Berlin, Germany // Finiata GmbH   

Finiata – previously knows as Blackbill – is one of the best funded ( > 6mn in first 6 months of operations), fastest growing and most dynamic oriented Fintech startups out there right now. A group of experienced Fintech founders (e.g. Kreditech and top tier investors Point9 Capital, Fly Ventures; DN Capital) are building the […]

Check out all open positions at http://BerlinStartupJobs.com


          Vietnam’s financial inclusion priorities: Expanding financial services and moving to a ‘non-cash’ economy    



 Also available in: Tiếng Việt

It’s nighttime and the streets are bustling in Vietnam’s cities and towns. Buoyed by years of strong growth, the country has a burgeoning middle class with purchasing power to sustain restaurants and cafes, full and open late into the night, busy retailers and a high penetration of mobile phones – more than one per person. The economy, however, continues to run on cash and a majority of adults still don’t have formal financial services such as a basic transaction account. Moving to a “non-cash” system is a priority for the government to increase efficiency, promote business and economic development and reduce poverty including in remote rural areas where traditional financial providers have difficulty reaching.

Since 2016 the State Bank of Vietnam, the country’s central bank, has been partnering with the World Bank Group on a comprehensive approach to financial inclusion which will result in a national financial inclusion strategy. While still in development, several key elements of the strategy are clear: a focus on digital finance including shifts in government payments to digital products and platforms; providing financial services to rural and agricultural communities and ethnic minorities, where growth has lagged and poverty rates are above the national average; and strengthening consumer protection and financial education so that the next generation of consumers are prepared for a modern financial marketplace.

Last week I was in Vietnam with Her Majesty Queen Maxima of the Netherlands, the United Nations Secretary General’s Special Advocate for Financial Inclusion, to support the country’s development of a national strategy including taking steps to establish a national coordination structure (inter-ministerial) to develop and execute the strategy.

Designing and developing an effective national financial inclusion strategy is key for a country to be able to successfully implement envisioned reforms, as it essentially provides a roadmap for the authorities to follow to achieve their financial inclusion objectives. Data from the Global Findex database underline the importance of this task – as of 2014 only about one-third of adults indicated they had a transaction account with a formal financial provider, far below the regional average of 69%.

Because of its sizeable population and relatively low financial inclusion rates, [[tweetable]]Vietnam is among the 25 priority countries where we are focusing our financial inclusion efforts[[/tweetable]] through the Universal Financial Access (UFA) by 2020 initiative which seeks to bring 2 billion unbanked into formal financial systems. Ensuring adults have access to a transaction account is a first step toward comprehensive financial inclusion, where people can make use of appropriate financial services, including savings, payments, credit and insurance.  

According to our projections, many Vietnamese who are excluded from the formal financial sector do in fact have active financial lives. For example, 39% of adults save outside the formal sector, “under the mattress” or using informal means including savings clubs; 65% send or receive remittances outside the formal system or pay school fees or utility bills in cash. Some of the most important barriers to accessing and using formal financial services include:

  • Financial services are too far to access – 6.2 million adults
  • Financial services are too expensive to use – 2.2 million adults
  • Documentation requirements are prohibitive to open an account – 2.3 million adults
  • Lack of trust in the financial sector – 1.1 million adults
Removing these barriers, through appropriate policies and legal and regulatory reforms, can help move consumers from the informal to formal financial sector with great effect – according to our estimates an improved policy environment could mean reaching an estimated 48 million adults with transaction accounts. On top of this, government-to-person (G2P) cash transfers can be digitized to reach an additional 3.7 million currently unbanked adults.

Also, research shows that [[tweetable]]countries that have invested in devising and implementing a national financial inclusion strategy (NFIS) have been more successful [[/tweetable]]and effective in reaching set targets. On average, there is a 17% increase in the percentage of adults with an account at a formal financial institution for countries that launched an NFIS after 2007, whereas the increase is only 9% for those countries that have not launched an NFIS. Based on this analysis, our estimates show that Vietnam can possibly reach to an estimated 11.6 million adults by designing and implementing a national financial inclusion strategy.

The State Bank of Vietnam is the lead implementing agency for financial inclusion and development of the national strategy. However, many other ministries and the private sector will have important roles to play and this week meetings with the UNSGSA have included several of these such as:
  • The Ministry of Finance (MOF) to facilitate the transformation of overall government payments and reform of the Vietnam Bank for Social Policies (VBSP) towards more market-based principles
  • The Ministry of Information and Communications (MIC) to facilitate the development and regulation of mobile payment solutions
  • The Ministry of Labor, Invalids and Social Affairs (MOLISA) for government to people payments
  • The Ministry of Agriculture and Rural Development (MARD) for extending financial services in rural and agricultural communities
  • The Vietnam Women’s Union (VWU) to leverage their strong network of women’s groups and microloan programs
  • The Ministry of Education and Training (MOET) for financial education in the school curriculum to produce a new generation of more financially savvy and confident consumers
  • Representatives of the private sector, including fintech companies and agribusinesses
Expanding and [[tweetable]]extending formal financial services to reach millions of unbanked and underbanked adults will help Vietnam [[/tweetable]]achieve both poverty reduction and continued dynamic growth, propelling the nation forward toward the vision described in the Vietnam 2035 report of greater prosperity, inclusion and accountability.

We are extremely proud to be partners with Vietnam on this critical agenda.

Photo: Simone D. McCourtie / World Bank
          Three things to know about migrant workers and remittances in Malaysia   


Migrants represent 15% of Malaysia’s workforce, making the country home to the fourth largest number of migrants in the East Asia Pacific region. The migrant population is diverse, made up of workers from Indonesia, Bangladesh, Nepal, Myanmar, Vietnam, China and India, among many other countries.

Migrants have become an integral part of Malaysia’s economy and support their families by sending substantial amounts of remittances to their home countries. In fact, remittance growth by migrants in Malaysia has been dramatic since 2006, with an increase in remittance outflows of more than 500% in the past ten years.



Project Greenback 2.0 Johor Bahru
 
Project Greenback 2.0 Johor Bahru is the product of a partnership between Bank Negara Malaysia (BNM) and the World Bank Group (WBG) to identify migrant workers’ financial behaviors and their prevalent practices and needs in sending money home. Johor Bahru is the first Greenback champion city in Asia after Turin, Italy, and Montreuil, France.
 
The project has been implemented with many partners including the City Council of Johor Bahru, the Malaysian Association of Money Services Business, the Embassy and Consulate General of Indonesia, the Association of Chinese Small and Medium Enterprises (SMEs) and plantation and remittance companies.
 
Since its launch in November 2015, a joint Greenback team from BNM and WBG has been engaging with migrant communities who are employed in Johor Bahru City and in plantations within a 50 kilometer radius of the city. A survey was conducted targeting migrants working in these urban areas and remote plantations.
 
Three things that came up as a result of the survey: 

1. Income, savings and bank account ownership   

Urban migrants earn 46% more than plantation workers and higher education levels are positively correlated with higher incomes. Nevertheless, beyond a secondary school education, migrant wages stabilize since the type of labor performed by migrants typically does not require higher educational levels.
 
The savings rate of plantation workers is 13% higher than that of urban workers, which can mainly be attributed to the lower cost of living in remote plantations.



The level of bank account ownership is low at 22% for plantation workers and 55% for urban workers. Certain workers cannot comply with the basic requirements to open a bank account due to a lack of proper documentation. For plantation workers, payment of wages in cash and the remoteness of their work locations most affect the level of bank account ownership. These make traveling to banks not only hazardous (cash is carried) but also a time-consuming undertaking. A quarter of plantation workers replied they had to travel at least 30 km to get to a bank or other regulated remittance channels. 



2. Remittance behavior  

Purchasing basic necessities to support dependents in the home country is the main reason for remittances which typically are sent on a monthly basis. 
 
Generally, the transaction fee is 20 Ringgit or less. However, apart from this transaction fee, workers are less aware of the other remittance costs components, such as the foreign exchange cost and costs charged to the recipient.


Non-bank remittance service providers are the most popular regulated remittance channel used by two thirds of the respondents whereas banks are only used by one third of the respondents. Basic factors when selecting a remittance channel are the same among all migrants: safety, ease of transaction, speed and reliability. Nonetheless, the first determining factor for choosing a specific (regulated or unregulated) remittance channel is the convenience of location, after price and trust.    

3. Use of information and communication technologies 
 
Among the surveyed migrants, 74% own a smart phone and 90% access the internet through it. These numbers are high and present a tremendous business opportunity for technology driven remittance service providers who invest in educating their consumer base and provide reliable and competitive remittance services.  
 
By issuing the Financial Technology (FinTech) Regulatory Sandbox Framework, BNM acknowledged FinTech as a catalyst for the development of progressive financial services. This framework allows regulatory flexibilities to be granted to financial institutions and FinTech companies to experiment with FinTech solutions in a live controlled environment for a limited period. Through this initiative BNM will ensure that the Malaysian financial services sector keeps up with the paradigm shift in the use of technology in financial services, and therefore continues to remain relevant regionally and globally.
 
Greenback 2.0 is an ongoing project in Malaysia where progress will be measured through yearly reports. Two additional reports are currently being developed – one which will measure the remittance behavior and needs of SMEs, and another focusing on migrant remittance behavior and needs between Johor Bahru and Lombok, Indonesia.
 
Last but not least, a Greenback 2.0 Pick Remit mobile application was developed which aims to create transparency in remittance prices on a global level. The app aims to help migrant workers make the best choice of services when sending money back home.
 
The impact of Greenback 2.0 in Johor Bahru has been substantial. Average remittance fees decreased by 40%, from 3.33% prior to December 2015 (Pre-Greenback 2.0) to 2.02% in December 2016. As a result, Malaysia is one of the cheapest remittance-sending corridors in the world today.
 
Thanks to this type of initiatives, the cost of sending remittances from Malaysia to neighboring countries is expected to decline further. Moreover, a growing number of migrant workers employed in plantations and other remote locations will be able to remit money home through financial institutions thanks to the use of their smartphones. Thus, a larger volume of remittance outflows will be channeled through financial institutions on a secure, efficient, and cost effective manner for both senders and recipients.
          DevOps Engineer Distributed Data (Cassandra) - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Fri, 23 Jun 2017 14:06:55 GMT - Toon alle vacatures in Noord-Holland
          Full Stack Heroes - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Wed, 14 Jun 2017 07:58:22 GMT - Toon alle vacatures in Noord-Holland
          Comentario en maatG Nozzle y el Sector Inmobiliario en Mexico. por Raúl Sánchez   
Ya era hora de que hubiesen alternativas a los bancos. maatG Nozzle ofrece una gran oportunidad a las empresas para financiar sus proyectos mediante el Fintech. maatG Nozzle, dada su experiencia y desarrollo, permite que estas posibilidades se materialicen en oportunidades para las empresas y así crecer. Gran oferta de maatG Nozzle!
          Comentario en maatG Nozzle y el Sector Inmobiliario en Mexico. por Cristian Gámez   
maatG Nozzle sin duda es una empresa de éxito internacional y sus propuestas supondrán una revolución en el mundo laboral. maatG Nozzle permitirá con la plataforma Fintech hacer crecer a las empresas y mejorar sus resultados. Por otra parte, la alianza entre maatG Nozzle y MLeon beneficiará a ambos. Gran propuesta de valor de maatG Nozzle
          Your guide to accelerators focused on the FinTech space   
These accelerators include Plug and Play, Barclays and Wells Fargo

For startups, there are numerous paths for getting their name out there. One way, which Vator has been covering recently, are startup competitions, but another popular method to get a foot in the door, as well as some funding and traction, are accelerators. These are programs that provide companies advice, guidance and various forms of support for startups in their early ... [Read more]

          InvestCloud to Launch FinTech Incubator in London   
Los Angeles-based fintech company InvestCloud, Inc., is set to launch a financial technology incubator and accelerator at its European headquarters in Soho, London. InvestCloud Innovation Center London will offer both new startups and established financial firms the ability to deliver digital wealth management solutions supported by the InvestCloud platform. The center will follow the blueprint […]
          Capital One co-founder Nigel Morris talks fintech in Charlotte   
​Nigel Morris, co-founder of Capital One Financial Services, says he could see Charlotte obtaining fintech-hub status if the city is able to secure a critical mass of talented, technologically-literate young people here.

          A Closer Look At Baidu's Fintech Initiatives   
In December 2015, Baidu established a financial services group to enter the consumer finance, mobile payment and internet brokerage businesses. This move was made to compete effectively with other players in the region such as Alibaba and Tencent, who already had payment services.
          BlackRock's Acquisition of Cachematrix Should Strengthen Its Cash Management Unit   
BlackRock recently entered into a definitive agreement to acquire fintech firm Cachematrix – a move that will allow the asset management giant’s cash management unit to leverage the latter’s simpler technology platform to better target banks and their corporate clients.
          KPMG strengthens its ties with FinTech sector through the acquisition of Matchi   
The recently completed deal cements the relationship between the two companies which has been active since 2015.
          10 Most Innovative CEOs in Banking 2015   
2015 has been a busy year in fintech. New mobile payments methods appeared on our phones; investing became easier and cheaper for millennials (who may finally have money to invest); Square went public; money continued to pour into fintech startups; and every other word we have heard is “blockchain.” But, in retrospect, the most significant fintech development […]
          N26 ab sofort auch mit Versicherungen   

N26 (vormals Number26) kennt vielleicht der ein oder andere von euch. Das FinTech Startup möchte eine moderne Bank sein und bietet dementsprechend auch neue und moderne Finanzdienstleistungen an. Nun kommt neben dem N26 Savings und … Weiterlesen

The post N26 ab sofort auch mit Versicherungen appeared first on STEREOPOLY.


          ItzCash rolls out QR feature to POS terminals   
ItzCash, India’s leading Fintech rolls-out ‘Bharat QR code’ feature across its retail network. Now s...
          FinTech Australia releases fintech ecosystem map   
Australia’s fintech industry body today released its first member ecosystem map, which helps build d...
          Banks Encouraged to Invest in Cryptocurrencies   

The International Monetary Fund (IMF) is suggesting that banks should invest in cryptocurrencies, while some banks have begun using the digital currencies.

The post Banks Encouraged to Invest in Cryptocurrencies appeared first on Investing News Network.


          THE US FINTECH REGULATION REPORT: How the US regulatory environment is holding back the fintech industry   

major us regulators 4 by 3BI Intelligence

This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Despite having one of the largest fintech industries in the world, the US is noticeably behind other regions when it comes to one factor crucial to the future growth of this burgeoning sector — regulation. 

The US regulatory environment is holding back fintechs and hindering their chances of success. 

A new report from BI Intelligence examines the current regulatory landscape in the US and how it's impacting the fintech industry. In addition, it discusses the methods fintechs are using to meet regulations as best they can, and details the fintech-specific initiatives that have already been launched by regulators and their likelihood of success. It also considers the future of fintech regulation in the US and how it may shape the fintech sector long term.

Here are some of the key takeaways from the report:

  • The US' regulatory system involves many different players at the federal level, as well as a regulator for each state. This complexity not only makes the US regulatory environment harder for fintechs to navigate in the first place, but it's a major barrier to the development of a coherent fintech policy.
  • The US regulatory landscape means it is falling behind other major fintech regions such as the UK and EU in certain segments. These regions already have established fintech regulatory policies. 
  • US fintechs are using a number of models to achieve compliance, but none are ideal. As a result, many are finding it hard to achieve the scale necessary for success. 
  • Some US regulators have realized the need to act regarding fintech regulation, and are launching initiatives with the aim of making compliance easier. That said, a coherent fintech regulatory policy for the US is still a long way off. 

 In full, the report:

  • Examines the current regulatory landscape in the US. 
  • Explains how it is negatively affecting the fintech industry.
  • Outlines the initiatives currently in play from major regulatory agencies. 
  • Considers the future of US fintech regulation and its potential impact on the fintech sector. 

Interested in getting the full report? Here are two ways to access it:

  1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. » Learn More Now
  2. Purchase & download the full report from our research store. » Purchase & Download Now

          Comptroller Curry Speaks Re: Fintech – Says Banking Must Continue to Evolve   

On April 28, 2017, Comptroller of the Currency Tom Curry gave a speech which called out the banking industry’s need to keep current with technology and innovation, and aimed to defend the OCC’s efforts to encourage such growth.
 


          GAO Report - Financial Technology: Information on Subsectors and Regulatory Oversight   

On April 19, 2017, the Government Accountability Office (GAO) released the first in a planned series of reports on the growing and wide-ranging fintech industry.


          Plaid CEO and Co-Founder Zach Perret to Discuss the API Landscape as the Opening Keynote Speaker at PAYMENTS 2017    

NACHA also announces a new Exhibit Hall feature -- Innovator Row and Pitch Competition -- highlighting emerging fintech providers.


          OCC Issues Draft Licensing Manual Supplement for Evaluating Fintech Charter Applications   

On March 15, 2017, the Office of the Comptroller of the Currency (OCC) took one additional step closer to allowing fintech companies the opportunity to apply for a special purpose national bank charter. The agency released a draft licensing manual supplement that explains how the OCC will apply the licensing standards in existing regulations to fintech companies that seek a charter through the process.


          NACHA Government Relations Update - March 16, 2017   

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: Raphael Bostic Named as Next President of the Federal Reserve Bank of Atlanta; House Republicans Ask Comptroller Curry to Delay Fintech Charter Guidance and more.


          House Republicans Ask Comptroller Curry to Delay Fintech Charter Guidance   

On March 10, 2017, Republicans on the House Financial Services Committee sent a letter to the Office of the Comptroller of the Currency urging Comptroller Tom Curry to hold off on finalization of principles for a limited purpose bank charter for fintech firms. The letter objects to finalization of the policy given the April 12 expiration of Curry’s term.


          NACHA Government Relations Update - Jan. 19, 2017   

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: 2017 Presidential Inaugural Schedule, Congressional FinTech and Payments Caucus Announces 115th Congress Co-Chairs and more.


          NACHA Government Relations Update - Nov. 10, 2016   

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: Government Relations Expands Resources on NACHA.org; OCC Announces New Office of Innovation, Delays Decision on FinTech National Charter; FTC Hosts Forum on Peer-to-Peer Payments and more.


          NACHA Government Relations Update - June 23, 2016   

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: OCC Contemplates Offering Limited-Purpose Charters for Fintech Industry, CFPB Releases Small Dollar Lending Rule Proposal and more.


          IMF Report Supports Use Of Cryptocurrencies By Banks   

The international monetary fund, IMF,  has released its latest report surrounding the use of cryptocurrencies in the fintech environment. It has regarded the recent development as a revolution of financial services which it emphasis should be supported by the current banking institutions too. The report supported the use of cryptocurrencies like bitcoin for many purposes […]

The post IMF Report Supports Use Of Cryptocurrencies By Banks appeared first on BTC Nigeria.


          NACHA Payments Innovation Alliance Members to Convene in San Francisco    

NACHA today announced that its Payments Innovation Alliance released its agenda for the Feb. 22-24 Members Meeting in San Francisco, which will highlight the role of fintech in payments innovation. 


          Fintonic, un caso que demuestra el peso de las Fintech en el sector financiero   

Fintonic, la Startup española del sector fintech ha cerrado una ronda de financiación con la participación de grandes empresas como ING Group o el grupo asegurador PSN. El objetivo de esta inyección es el impulso de su crecimiento en España y Latinoamérica, además de incrementar la propuesta de valor a los usuarios. Las empresas Rousaud Costas Duran y Financial Managers han actuado como asesores del proceso. Si observamos el panorama actual, podemos observar como cada vez son más las personas […]

Leer más del artículo Fintonic, un caso que demuestra el peso de las Fintech en el sector financiero en la web original de Economipedia.


          Infographic Of The Day: Chart: Fintech Investment In 2016    

According to a new report by Singapore-based venture capital firm Life.SREDA, last year was a mixed bag for fintech.

Read more ...


          AI Fintech Startup Straterix Emerges from Stealth To Help Some of World's Biggest Banks Pass Fed's Stress Tests   
...Ahead of this year's stress tests, there was talk of banks returning "excess" capital to shareholders. " Doing so carries risks ," says Alla Gil. " By incorporating Straterix's customised stress-testing solution in their day-to-day activities, banks and regulators ...

          Yoco and Zoona make Fintech250 list!   
ABOUT The Fintech 250 is a list created by CB Insights recognizing the 250 top private companies changing the face of financial services around the world. From insurance to blockchain to lending to wealth management to regtech, and more; the list is comprised of companies in sectors from across the fintech spectrum and across markets […]
          Delhi based fintech startup Cardback shuts down owing to fund crunch   
Delhi based fintech startup Cardback shuts down owing to fund crunch CardBack was one of the first such fintech product in the space in India which recommended the best credit card to pay for a particular service or product.
          Officials to grasp fiscal opportunities   

Newly appointed Principal Officials today outlined their plans to seize economic opportunities to boost Hong Kong’s development.

 

Secretary for Commerce & Economic Development (Designate) Edward Yau said Hong Kong can do better if it can ride on business opportunities, especially those arising from the fast-progressing Mainland market as well as the progressive national economic and trade policies.

 

Mr Yau said: "For this to be achieved, we must work hand-in-hand with various sectors of the community and all stakeholders. In particular, we must put our acts together within the Government and among different bureaus and departments."

 

He said Hong Kong is not just a Chinese city, but the international trade and commerce centre of China with its talent, entrepreneurship and can-do spirit.

 

Secretary for Innovation & Technology (Designate) Nicholas Yang said Hong Kong must step up its efforts in innovation and technology.

 

"During the past 19 months, my team and I have spared no effort to improve Hong Kong's innovation and technology eco-system," he said.

 

Innovation and technology can foster both economic growth and social development, and the key is to find the right execution angle.

 

"We will maintain and sustain the momentum we have started, leverage our strengths and identify new growth directions to put Hong Kong on the forefront of global innovation."

 

Secretary for Financial Services & the Treasury (Designate) James Lau said financial stability is key to a stable and growing economy that improves people’s livelihood.

 

"My team and I will continue to develop our financial markets and enhance our competitiveness, and Hong Kong should leverage more on the opportunities brought about by development, such as Fintech and green finance.

 

"We will step up efforts to internationalise our equity market and make sure our existing platform remains competitive."

 

Mr Lau noted the Mainland is pursuing the Belt & Road Initiative and developing the Guangdong-Hong Kong-Macao Bay Area, and Hong Kong has just been admitted as a new member of the Asian Infrastructure Investment Bank.

 

He said Hong Kong must capitalise on these opportunities for the financial services sector and explore more channels to connect with Mainland financial markets for the continuous development of Hong Kong as an offshore renminbi hub.


          B2B Fintech Investment On The Rise   
Fintech startups in business-to-business payments may finally be getting their day in the sun.
          ftcash selected for Mastercard Start Path program   
Launched in 2014, Mastercard Start Path is a global effort to support later-stage fintech and tech start-ups who are shaping the future of commerce.
          DevOps Engineer Distributed Data (Cassandra) - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Fri, 23 Jun 2017 14:06:55 GMT - Toon alle vacatures in Noord-Holland
          Full Stack Heroes - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Wed, 14 Jun 2017 07:58:22 GMT - Toon alle vacatures in Noord-Holland
          Comment on The Fastest Consumer Lenders to $1 Billion in Originations by Jabairu Stork   
I think he's talking about 30% net interest margin, which is achievable in the payday loan space. A $20M loan book can be run by a pretty lean operation with minimal overhead, so if they are bringing in $6M of net interest they can very likely drop 25% or more of that to the bottom line ... pretty good for a mom and pop business! However, a business at that scale can't really attract outside investors. If you are calling yourself a specialty finance co, you are probably pretty happy to get to the point where you pocket $1-2M per year. If you are a fintech, you have your eyes on a billion dollar valuation with a public market exit.
          FSB calls for greater control over fintech activities   
The Financial Stability Board released a report that notes 10 areas where regulators need to increase awareness and oversight -More

          Gordon, l’intelligence artificielle qui sélectionne le meilleur de la fintech   
Gordon a été entraîné par Pierre-Philippe Cormeraie, Chief Digital Evangelist du groupe BPCE.

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          Le temps de la transition 2.0 s'accélère pour les grandes banques   
Après des années à observer, incuber ou dialoguer avec les start-up de la finance , les banques ont décidé de sortir le carnet de chèques. Coup sur coup, ces dernières semaines, plusieurs grands acteurs français ont mis la main sur les fintech les plus emblématiques, avec des montants en dizaines,...
          6/29/2017: La Banque Postale rachète KissKissBankBank   

BANQUE Après BNP Paribas et Natixis qui ont respectivement mis la main sur deux fintech en vue (Compte-Nickel et Dalenys), La Banque Postale rachète le pionnier du financement « par la foule » KissKissBankBank. Pour la filiale de La Poste, cette...
          Geliat Perbankan Korea Selatan di Asia Tenggara   

Perbankan Korea Selatan (Korsel) terus melebarkan ekspansinya ke negara-negara di Asia Tenggara. Di tengah persaingan dan peraturan ketat yang diterapkan beberapa negara di Asia Tenggara, para ahli menyarankan agar perbankan Korea konsistensi menerapkan strategi berdasarkan perspektif jangka panjang.

Menurut Pusat Penelitian Bank Pembangunan Korea (KDB), seperti mengutip Koreatimes.co.kr, Kamis (29/6/2017), perbankan Korea memiliki 13 perusahaan lokal, 17 cabang dan 23 kantor di Asia Tenggara per Juni tahun lalu.

Langkah ekspansi ke luar negeri berkaitan dengan memburuknya profitabilitas di pasar Korea, dipicu rendahnya pertumbuhan ekonomi dan tingkat bunga ditambah dengan permintaan yang jenuh.

"Pertumbuhan dan suku bunga yang rendah saat ini tidak pernah dialami ekonomi Korea sebelumnya, yang kemudian menekan manajemen bank, menurunkan pertumbuhan mereka dan membuatnya sulit untuk memulihkan profitabilitas," menurut Yang Won-geun, peneliti di Korea Institute of Finance dalam catatannya.

Perekonomian China, yang memiliki pengaruh terbesar terhadap ekonomi Korea, telah mengakhiri era pertumbuhan tingginya. Pasar domestik Korea juga menghadapi kesulitan dengan pertumbuhan pendapatan yang goyah dan utang rumah tangga yang menghambat konsumsi. Populasi yang menua dan penurunan harga aset.

Margin bunga bersih bank terus menurun sejak krisis keuangan global, hingga 1,55 persen pada 2016. Angka tersebut 1,5 sampai 2,5 kali lebih tinggi di negara-negara Asia Tenggara, yang menarik minat bank-bank Korea.

Kang Meang-gu, peneliti senior di KDB Research Institute, mencatat bank-perbankan Korea tertarik dengan potensi pertumbuhan pasar Asia Tenggara yang tinggi. Apalagi populasi di wilayah ini yang terus bertambah.

Lima negara besar ASEAN yakni Indonesia, Vietnam, Thailand, Malaysia dan Filipina, mencatat pertumbuhan ekonomi rata-rata sekitar 5 persen setiap tahunnya, di tengah meningkatnya investasi asing.

Kemajuan bisnis Korea ke kawasan ini juga menjadi daya tarik tersendiri bagi bank-bank Korea. Mereka beralih dari China ke Asia Tenggara setelah krisis keuangan global, karena kenaikan upah dan peraturan penguatan perusahaan asing yang memperparah keuntungan yang diraih.

Asia Tenggara, di sisi lain, menyediakan tenaga kerja murah tapi terampil, serta beragam insentif bagi investor dan kekuatan geografis sebagai basis produksi di Asia. Pada September lalu, 2.785 produsen termasuk Samsung, LG dan pemasoknya beroperasi di Vietnam, serta 1.080 produsen Korea di Indonesia, dan 98 di Myanmar.

Peningkatan investasi infrastruktur dan fasilitas di kawasan ini juga memperluas permintaan pembiayaan. Pasar infrastruktur Indonesia diperkirakan akan tumbuh rata-rata 7,8 persen per tahun antara 2017 dan 2021, dan Vietnam memperkirakan pertumbuhan 6 persen setiap tahunnya.

Negara-negara Asia Tenggara juga secara aktif membuka pintu bagi bank asing, mendorong M & A atau akuisisi saham di bank lokal.

Namun, ada kekhawatiran bahwa Asia Tenggara dapat berubah menjadi "samudera merah" bagi bank-bank Korea, terutama jika mereka hanya fokus pada perusahaan Korea atau penduduk Korea di wilayah tersebut. Para ahli menekankan kebutuhan akan sumber pendapatan baru serta strategi yang beragam.

Kang menyarankan bank Korea untuk fokus pada keuangan digital berdasarkan fintech untuk kesuksesan dan profitabilitas yang tinggi. Fintech mengacu pada konvergensi layanan keuangan dan teknologi.

"Bank-bank Korea dengan teknologi digital memiliki kekuatan dalam fintech. Mereka memiliki cukup keunggulan di pasar Asia Tenggara."

Dia mengatakan bahwa bank-bank Korea memiliki daya saing yang lebih banyak dalam mengejar sektor korporasi daripada ritel.

Dia juga menyarankan konsentrasi pada sektor dimana masing-masing bank memiliki daya saing. "Misalnya, NH Nonghyup mengkhususkan diri pada layanan keuangan untuk sektor pertanian sementara Bank Industri Korea (IBK) memiliki kekuatan dalam layanan untuk usaha kecil dan menengah. Seharusnya sama ketika mereka maju ke Asia Tenggara."

Para ahli juga menunjukkan bahwa bank-bank Korea kurang memiliki konsistensi secara perspektif jangka panjang. Meskipun ada permintaan dari pemerintah Thailand untuk tetap tinggal, beberapa bank Korea menutup cabang mereka di Thailand setelah krisis keuangan Asia, yang membuat pemerintah Thailand negatif terhadap kembalinya bank-bank Korea ke negara tersebut.

Analis juga menyarankan untuk membuat jaringan inti di setiap negara. "Bank Korea telah berkonsentrasi pada Vietnam, Myanmar dan Indonesia, namun Asia Tenggara memiliki potensi pertumbuhan yang sangat besar untuk bank berkat meningkatnya permintaan domestik dan investasi langsung asing," Kang mencatat.

Dia mengutip Laos dan Kamboja, yang telah menandai pertumbuhan tahunan 7 persen selama lima tahun terakhir, sebagai tujuan populer bagi produsen Korea selama bertahun-tahun yang akan datang. "Selain itu, negara-negara ini melanjutkan pembangunan infrastruktur. Permintaan pembiayaan fasilitas akan meningkat," tambahnya.


Simak video menarik berikut ini:


          Former CFTC Fintech Adviser: 'Regulators Do Not Move at the Pace of Startups'   
During the Future of Fintech event in New York, Jeffrey Bandman, formerly of the CFTC, spoke about fintechs and regulation.
       

          Customer Service Representative - Buyatab - Vancouver, BC   
We’re a finTech maverick and officially one of the most popular technology companies in BC. Customer Service Representative (Part-time)....
From Buyatab - Tue, 06 Jun 2017 13:06:33 GMT - View all Vancouver, BC jobs
          FRB Governor Indicates Data Aggregators Could Impact Bank Safety & Soundness as Part of the “Fintech Stack”   
In a recent speech at the Northwestern Kellogg Public-Private Interface Conference, Federal Reserve Board Governor Lael Brainard indicated that the relationships between banks and data aggregators within the “fintech stack” may present safety and soundness concerns that warrant oversight by the FRB (and perhaps other prudential regulators).… Read the rest
          OCC Issues Draft Fintech Supplement to OCC Licensing Manual   
On March 15, 2017, the Office of the Comptroller of the Currency issued a “Draft Supplement” to the Comptroller’s Licensing Manual, entitled “Evaluating Charter Applications from Financial Technology Companies” (Supplement).  The OCC’s Supplement is designed to provide substantive standards and procedures for the OCC’s evaluati… Read the rest
          Customer Service Representative - Buyatab - Vancouver, BC   
We’re a finTech maverick and officially one of the most popular technology companies in BC. Customer Service Representative (Part-time)....
From Buyatab - Tue, 06 Jun 2017 13:06:33 GMT - View all Vancouver, BC jobs
          Geliat Perbankan Korea Selatan di Asia Tenggara   

Perbankan Korea Selatan (Korsel) terus melebarkan ekspansinya ke negara-negara di Asia Tenggara. Di tengah persaingan dan peraturan ketat yang diterapkan beberapa negara di Asia Tenggara, para ahli menyarankan agar perbankan Korea konsistensi menerapkan strategi berdasarkan perspektif jangka panjang.

Menurut Pusat Penelitian Bank Pembangunan Korea (KDB), seperti mengutip Koreatimes.co.kr, Kamis (29/6/2017), perbankan Korea memiliki 13 perusahaan lokal, 17 cabang dan 23 kantor di Asia Tenggara per Juni tahun lalu.

Langkah ekspansi ke luar negeri berkaitan dengan memburuknya profitabilitas di pasar Korea, dipicu rendahnya pertumbuhan ekonomi dan tingkat bunga ditambah dengan permintaan yang jenuh.

"Pertumbuhan dan suku bunga yang rendah saat ini tidak pernah dialami ekonomi Korea sebelumnya, yang kemudian menekan manajemen bank, menurunkan pertumbuhan mereka dan membuatnya sulit untuk memulihkan profitabilitas," menurut Yang Won-geun, peneliti di Korea Institute of Finance dalam catatannya.

Perekonomian China, yang memiliki pengaruh terbesar terhadap ekonomi Korea, telah mengakhiri era pertumbuhan tingginya. Pasar domestik Korea juga menghadapi kesulitan dengan pertumbuhan pendapatan yang goyah dan utang rumah tangga yang menghambat konsumsi. Populasi yang menua dan penurunan harga aset.

Margin bunga bersih bank terus menurun sejak krisis keuangan global, hingga 1,55 persen pada 2016. Angka tersebut 1,5 sampai 2,5 kali lebih tinggi di negara-negara Asia Tenggara, yang menarik minat bank-bank Korea.

Kang Meang-gu, peneliti senior di KDB Research Institute, mencatat bank-perbankan Korea tertarik dengan potensi pertumbuhan pasar Asia Tenggara yang tinggi. Apalagi populasi di wilayah ini yang terus bertambah.

Lima negara besar ASEAN yakni Indonesia, Vietnam, Thailand, Malaysia dan Filipina, mencatat pertumbuhan ekonomi rata-rata sekitar 5 persen setiap tahunnya, di tengah meningkatnya investasi asing.

Kemajuan bisnis Korea ke kawasan ini juga menjadi daya tarik tersendiri bagi bank-bank Korea. Mereka beralih dari China ke Asia Tenggara setelah krisis keuangan global, karena kenaikan upah dan peraturan penguatan perusahaan asing yang memperparah keuntungan yang diraih.

Asia Tenggara, di sisi lain, menyediakan tenaga kerja murah tapi terampil, serta beragam insentif bagi investor dan kekuatan geografis sebagai basis produksi di Asia. Pada September lalu, 2.785 produsen termasuk Samsung, LG dan pemasoknya beroperasi di Vietnam, serta 1.080 produsen Korea di Indonesia, dan 98 di Myanmar.

Peningkatan investasi infrastruktur dan fasilitas di kawasan ini juga memperluas permintaan pembiayaan. Pasar infrastruktur Indonesia diperkirakan akan tumbuh rata-rata 7,8 persen per tahun antara 2017 dan 2021, dan Vietnam memperkirakan pertumbuhan 6 persen setiap tahunnya.

Negara-negara Asia Tenggara juga secara aktif membuka pintu bagi bank asing, mendorong M & A atau akuisisi saham di bank lokal.

Namun, ada kekhawatiran bahwa Asia Tenggara dapat berubah menjadi "samudera merah" bagi bank-bank Korea, terutama jika mereka hanya fokus pada perusahaan Korea atau penduduk Korea di wilayah tersebut. Para ahli menekankan kebutuhan akan sumber pendapatan baru serta strategi yang beragam.

Kang menyarankan bank Korea untuk fokus pada keuangan digital berdasarkan fintech untuk kesuksesan dan profitabilitas yang tinggi. Fintech mengacu pada konvergensi layanan keuangan dan teknologi.

"Bank-bank Korea dengan teknologi digital memiliki kekuatan dalam fintech. Mereka memiliki cukup keunggulan di pasar Asia Tenggara."

Dia mengatakan bahwa bank-bank Korea memiliki daya saing yang lebih banyak dalam mengejar sektor korporasi daripada ritel.

Dia juga menyarankan konsentrasi pada sektor dimana masing-masing bank memiliki daya saing. "Misalnya, NH Nonghyup mengkhususkan diri pada layanan keuangan untuk sektor pertanian sementara Bank Industri Korea (IBK) memiliki kekuatan dalam layanan untuk usaha kecil dan menengah. Seharusnya sama ketika mereka maju ke Asia Tenggara."

Para ahli juga menunjukkan bahwa bank-bank Korea kurang memiliki konsistensi secara perspektif jangka panjang. Meskipun ada permintaan dari pemerintah Thailand untuk tetap tinggal, beberapa bank Korea menutup cabang mereka di Thailand setelah krisis keuangan Asia, yang membuat pemerintah Thailand negatif terhadap kembalinya bank-bank Korea ke negara tersebut.

Analis juga menyarankan untuk membuat jaringan inti di setiap negara. "Bank Korea telah berkonsentrasi pada Vietnam, Myanmar dan Indonesia, namun Asia Tenggara memiliki potensi pertumbuhan yang sangat besar untuk bank berkat meningkatnya permintaan domestik dan investasi langsung asing," Kang mencatat.

Dia mengutip Laos dan Kamboja, yang telah menandai pertumbuhan tahunan 7 persen selama lima tahun terakhir, sebagai tujuan populer bagi produsen Korea selama bertahun-tahun yang akan datang. "Selain itu, negara-negara ini melanjutkan pembangunan infrastruktur. Permintaan pembiayaan fasilitas akan meningkat," tambahnya.


Simak video menarik berikut ini:


          DevOps Engineer Distributed Data (Cassandra) - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Fri, 23 Jun 2017 14:06:55 GMT - Toon alle vacatures in Noord-Holland
          Full Stack Heroes - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Wed, 14 Jun 2017 07:58:22 GMT - Toon alle vacatures in Noord-Holland
          Tech firms to overtake traditional banks, says expert   
KUALA LUMPUR: Banking industry expert, Brett King, has predicted that technology companies will overtake traditional banks to become the world’’s largest financial institutions by 2025.

“By 2025, the biggest bank in the world will not be any of the banks today, but technology companies providing financial services that are integrated in peoples life,” said King, who is also the founder/ CEO of New York-based mobile-banking service Moven.

Last year, King said, China’s electronic payment gateway – Alipay – processed US$17 billion (RM72.9 billion) payment through mobile phones in one day on its Singles’ Day shopping spree that falls on Nov 11 yearly.

“What’s interesting is, Alipay is an online payment platform and not a traditional bank,” he told Bernama recently.

On survival tips for physical banks in the future, King suggested they could partner with technology companies to leverage the latter’s financial technology (fintech).

“There is no need to build their own technology but partnering them and encouraging to invest in fintech is the cheapest approach. Acquiring from them is going to cost more,” he said.

A financial institution, said King, should be able to execute real-time delivery banking experiences in the future as people would expect immediate delivery services by then.

Asked if traditional banks would gradually disappear in the future, King dismissed the idea but predicted the number of branches would be halved by the end of the next decade.

“We are not only seeing the branches being reduced, but its size (sq ft) is also shrinking,” he said.

“It does not mean that banks are closing down, we just do not need many branches for banking service anymore,” King said.

On the cyber risks exposure faced by fintech, he said, companies should always invest in the maturation of technology as quickly as possible, as a mature technology always helped to reduce risk.

“Would cyber attack stop people from using technology for financial transactions? No, it will not.

“The more the attack occurs, the stronger the immune system of a technology will get,” he said.
          Geliat Perbankan Korea Selatan di Asia Tenggara   

Perbankan Korea Selatan (Korsel) terus melebarkan ekspansinya ke negara-negara di Asia Tenggara. Di tengah persaingan dan peraturan ketat yang diterapkan beberapa negara di Asia Tenggara, para ahli menyarankan agar perbankan Korea konsistensi menerapkan strategi berdasarkan perspektif jangka panjang.

Menurut Pusat Penelitian Bank Pembangunan Korea (KDB), seperti mengutip Koreatimes.co.kr, Kamis (29/6/2017), perbankan Korea memiliki 13 perusahaan lokal, 17 cabang dan 23 kantor di Asia Tenggara per Juni tahun lalu.

Langkah ekspansi ke luar negeri berkaitan dengan memburuknya profitabilitas di pasar Korea, dipicu rendahnya pertumbuhan ekonomi dan tingkat bunga ditambah dengan permintaan yang jenuh.

"Pertumbuhan dan suku bunga yang rendah saat ini tidak pernah dialami ekonomi Korea sebelumnya, yang kemudian menekan manajemen bank, menurunkan pertumbuhan mereka dan membuatnya sulit untuk memulihkan profitabilitas," menurut Yang Won-geun, peneliti di Korea Institute of Finance dalam catatannya.

Perekonomian China, yang memiliki pengaruh terbesar terhadap ekonomi Korea, telah mengakhiri era pertumbuhan tingginya. Pasar domestik Korea juga menghadapi kesulitan dengan pertumbuhan pendapatan yang goyah dan utang rumah tangga yang menghambat konsumsi. Populasi yang menua dan penurunan harga aset.

Margin bunga bersih bank terus menurun sejak krisis keuangan global, hingga 1,55 persen pada 2016. Angka tersebut 1,5 sampai 2,5 kali lebih tinggi di negara-negara Asia Tenggara, yang menarik minat bank-bank Korea.

Kang Meang-gu, peneliti senior di KDB Research Institute, mencatat bank-perbankan Korea tertarik dengan potensi pertumbuhan pasar Asia Tenggara yang tinggi. Apalagi populasi di wilayah ini yang terus bertambah.

Lima negara besar ASEAN yakni Indonesia, Vietnam, Thailand, Malaysia dan Filipina, mencatat pertumbuhan ekonomi rata-rata sekitar 5 persen setiap tahunnya, di tengah meningkatnya investasi asing.

Kemajuan bisnis Korea ke kawasan ini juga menjadi daya tarik tersendiri bagi bank-bank Korea. Mereka beralih dari China ke Asia Tenggara setelah krisis keuangan global, karena kenaikan upah dan peraturan penguatan perusahaan asing yang memperparah keuntungan yang diraih.

Asia Tenggara, di sisi lain, menyediakan tenaga kerja murah tapi terampil, serta beragam insentif bagi investor dan kekuatan geografis sebagai basis produksi di Asia. Pada September lalu, 2.785 produsen termasuk Samsung, LG dan pemasoknya beroperasi di Vietnam, serta 1.080 produsen Korea di Indonesia, dan 98 di Myanmar.

Peningkatan investasi infrastruktur dan fasilitas di kawasan ini juga memperluas permintaan pembiayaan. Pasar infrastruktur Indonesia diperkirakan akan tumbuh rata-rata 7,8 persen per tahun antara 2017 dan 2021, dan Vietnam memperkirakan pertumbuhan 6 persen setiap tahunnya.

Negara-negara Asia Tenggara juga secara aktif membuka pintu bagi bank asing, mendorong M & A atau akuisisi saham di bank lokal.

Namun, ada kekhawatiran bahwa Asia Tenggara dapat berubah menjadi "samudera merah" bagi bank-bank Korea, terutama jika mereka hanya fokus pada perusahaan Korea atau penduduk Korea di wilayah tersebut. Para ahli menekankan kebutuhan akan sumber pendapatan baru serta strategi yang beragam.

Kang menyarankan bank Korea untuk fokus pada keuangan digital berdasarkan fintech untuk kesuksesan dan profitabilitas yang tinggi. Fintech mengacu pada konvergensi layanan keuangan dan teknologi.

"Bank-bank Korea dengan teknologi digital memiliki kekuatan dalam fintech. Mereka memiliki cukup keunggulan di pasar Asia Tenggara."

Dia mengatakan bahwa bank-bank Korea memiliki daya saing yang lebih banyak dalam mengejar sektor korporasi daripada ritel.

Dia juga menyarankan konsentrasi pada sektor dimana masing-masing bank memiliki daya saing. "Misalnya, NH Nonghyup mengkhususkan diri pada layanan keuangan untuk sektor pertanian sementara Bank Industri Korea (IBK) memiliki kekuatan dalam layanan untuk usaha kecil dan menengah. Seharusnya sama ketika mereka maju ke Asia Tenggara."

Para ahli juga menunjukkan bahwa bank-bank Korea kurang memiliki konsistensi secara perspektif jangka panjang. Meskipun ada permintaan dari pemerintah Thailand untuk tetap tinggal, beberapa bank Korea menutup cabang mereka di Thailand setelah krisis keuangan Asia, yang membuat pemerintah Thailand negatif terhadap kembalinya bank-bank Korea ke negara tersebut.

Analis juga menyarankan untuk membuat jaringan inti di setiap negara. "Bank Korea telah berkonsentrasi pada Vietnam, Myanmar dan Indonesia, namun Asia Tenggara memiliki potensi pertumbuhan yang sangat besar untuk bank berkat meningkatnya permintaan domestik dan investasi langsung asing," Kang mencatat.

Dia mengutip Laos dan Kamboja, yang telah menandai pertumbuhan tahunan 7 persen selama lima tahun terakhir, sebagai tujuan populer bagi produsen Korea selama bertahun-tahun yang akan datang. "Selain itu, negara-negara ini melanjutkan pembangunan infrastruktur. Permintaan pembiayaan fasilitas akan meningkat," tambahnya.


Simak video menarik berikut ini:


          Blockchain, Fintech et cryptomonnaies : nouvel horizon du monde de la finance ?   

La blockchain suscite l’intérêt et le monde pourtant fermé de la finance commence à y porter de l’attention. Si bien qu’IBM a dévoilé un projet phare au cours de la conférence Money 20/20 qui se tenait à Copenhague du 26 au 28 Juin.

Cet article Blockchain, Fintech et cryptomonnaies : nouvel horizon du monde de la finance ? est paru initialement sur Contrepoints - Journal libéral d'actualités en ligne


          Mobile Banking X Fintech   
Felipe Datt (Valor,22/06/17) informa que o mobile banking já é, oficialmente, o canal preferido do brasileiro para realizar transações bancárias. Conforme a Pesquisa Febraban de Tecnologia Bancária 2017, no último ano o canal respondeu por 34% do total de transações da indústria, ultrapassando o internet banking (23%) pela primeira vez. O crescimento é notável. Em 2013, … Continue reading Mobile Banking X Fintech
          THE US FINTECH REGULATION REPORT: How the US regulatory environment is holding back the fintech industry   

major us regulators 4 by 3BI Intelligence

This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

Despite having one of the largest fintech industries in the world, the US is noticeably behind other regions when it comes to one factor crucial to the future growth of this burgeoning sector — regulation. 

The US regulatory environment is holding back fintechs and hindering their chances of success. 

A new report from BI Intelligence examines the current regulatory landscape in the US and how it's impacting the fintech industry. In addition, it discusses the methods fintechs are using to meet regulations as best they can, and details the fintech-specific initiatives that have already been launched by regulators and their likelihood of success. It also considers the future of fintech regulation in the US and how it may shape the fintech sector long term.

Here are some of the key takeaways from the report:

  • The US' regulatory system involves many different players at the federal level, as well as a regulator for each state. This complexity not only makes the US regulatory environment harder for fintechs to navigate in the first place, but it's a major barrier to the development of a coherent fintech policy.
  • The US regulatory landscape means it is falling behind other major fintech regions such as the UK and EU in certain segments. These regions already have established fintech regulatory policies. 
  • US fintechs are using a number of models to achieve compliance, but none are ideal. As a result, many are finding it hard to achieve the scale necessary for success. 
  • Some US regulators have realized the need to act regarding fintech regulation, and are launching initiatives with the aim of making compliance easier. That said, a coherent fintech regulatory policy for the US is still a long way off. 

 In full, the report:

  • Examines the current regulatory landscape in the US. 
  • Explains how it is negatively affecting the fintech industry.
  • Outlines the initiatives currently in play from major regulatory agencies. 
  • Considers the future of US fintech regulation and its potential impact on the fintech sector. 

Interested in getting the full report? Here are two ways to access it:

  1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. » Learn More Now
  2. Purchase & download the full report from our research store. » Purchase & Download Now

          Rataran al Milano FintechStage   
Rataran, nostro stimato cliente dal 2014, è stato scelto tra le migliori 9 start-up Fintech!! Siete tutti invitati al #FTSMI16 FintechStage che si terrà a Milano giovedì 5 maggio. Registratevi e inserite il codice promozionale RATARAN100 per ottenere un FREE PASS . Venite a conoscerli di persona! Alle ore 15.45 potrete seguire la presentazione del progetto direttamente dai…
          Has the ICO window closed?   

@BernardLunn wrote:

The IPO window closes often during market corrections. Sometimes it remains shut for years (e.g. after the Dot Com bubble). Is the ICO window closed? Will a few really high quality ICOs get through? Tell us what you think.

Posts: 1

Participants: 1

Read full topic


          Verifi’s Cardholder Dispute Resolution Network (CDRN) Achieves Record Dispute Growth in Q1; More than £34M in Chargebacks Handled   

@aliceatkinson wrote:

Award-Winning Service Continues to Define the Industry Standard
for Merchants & Issuing Banks to Resolve Disputes & Prevent Chargebacks

LONDON - June 26, 2017–Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants, today announced that dispute volume within their Cardholder Dispute Resolution Network (CDRN) grew by more than 29% over the previous quarter, handling more than £34M in chargeback disputes.

Today, up to 86% of cardholders attempt to bypass the merchant and contact their issuing bank directly to dispute or question a charge on their bill. CDRN’s growing service footprint covers more than 50% of US transaction volume and is expanding globally to help merchants and issuers combat this significant problem. CDRN’s ongoing growth supports the heightened and industry-wide need to resolve consumer complaints collaboratively and preempt the painful chargebacks problem.

Verifi’s CDRN has enjoyed year-over-year growth since its launch in 2007. CDRN’s unique and patented, “closed loop” process directly integrates with top issuers, providing unmatched service quality and accuracy for merchants and issuers to resolve disputed payments and dramatically minimise chargebacks and cardholder dissatisfaction. Providing merchants visibility into both fraud and non-fraud customer disputes in near real-time, CDRN’s “closed loop” process affords the highest level of true chargeback protection while avoiding false positives that result in lost sales, increased manual review time, and decreased profits.

“We continue to improve and expand our CDRN service and coverage footprint in accordance with the demands of our clients, the payments industry and forecasts by analysts,” said Matthew Katz, CEO of Verifi. “We remain committed to continual innovation to ensure that Verifi customers stand at the forefront of a rapidly challenging and evolving payments industry.”

CDRN has been recognised as the Best Chargeback Management Program for the last five consecutive years by the Card Not Present Expo, and as Best Chargeback Prevention Service by TopCreditCardProcessors.com.

In response to the company’s growth and demand for services, Verifi commenced operations in the UK in mid-2016 and has broadened their investments in facilities and key personnel beyond the UK. The company’s most recent expansion is underway in Australia and New Zealand with further expansion to other markets including APAC, France, and Germany expected later this year.

The company experienced rapid adoption after commencing operation in the UK and currently supports hundreds of merchants and recognised global brands in diverse industries ranging from digital music, information technology, entertainment, as well as top High Street and UK e-commerce clients. Verifi is on track to cover the majority of the UK market by year’s end.

As part of its ongoing innovation, Verifi recently rolled out Order Insight, a revolutionary new chargeback and fraud mitigation service that enables the sharing of robust transaction details––such as merchant’s name and contact information, date of purchase, name of device used in the order process, and item or service descriptions (size, colour, style)––between cardholders, merchants and issuers when a dispute arises. By provisioning this data directly into the issuing bank’s online or mobile applications, a questionable charge can usually be resolved directly with the customer. This avoids a phone call to the issuer, saving the sale as well as wasted time, resources, and costs for all parties that would be incurred through the representment process. If the customer does contact their bank, call centre representatives can access the enhanced order details to address the customer’s concerns, help validate the sale, and provide prompt resolution and a better customer experience. Additionally, by providing the right information to the right parties at the right time, Order Insight enables cardholders to better recall or understand their purchases and avoid filing false cases of fraud or efforts to manipulate the system by denying legitimate charges to their statement.

Verifi provides a full and unmatched suite of end-to-end chargeback mitigation services that are designed to protect merchants and issuing banks alike from the expense and burdens of unwarranted fraud and non-fraud related card disputes and chargebacks.

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          The Crypto Consortium certifications for professionals   

@Efi wrote:

Does anybody have an opinion on the certifications of the non-profit https://cryptoconsortium.org/about

The Board of Directors is heavy-weight:
The following people work to set the direction of C4 and the standards against which cryptocurrency professionals are measured:
Andreas M. Antonopoulos

Andreas is the author of Mastering Bitcoin, CTO of Third Key Solutions and a prolific Bitcoin speaker. Andreas has briefed governmental bodies about Bitcoin and served as a champion to Bitcoin since he was introduced to the technology.

Vitalik Buterin

Vitalik is the inventor of the Ethereum Project, a next-generation cryptocurrency designed with advanced programmability and customization in mind. Vitalik is an editor for Bitcoin Magazine and a contributor to Bitcoin Core. He has been invited to speak internationally on topics including Bitcoin, Ethereum, and information theory.

Joshua McDougall

Joshua's dedication to the legal support industry has afforded him the opportunity to spread cryptocurrency understanding to top law firms in Canada. He is also a co-founder of Coindroids, a role playing game played entirely within cryptocurrency blockchains.

Pamela Morgan

Pamela is an attorney, entrepreneur, and educator. She is CEO and founder of Third Key Solutions and founder and attorney at Empowered Law PLLC. She advises numerous organizations in the Bitcoin, blockchain, and education spaces and regularly speaks at events around the world on topics including law, education, entrepreneurship.

Michael Perklin

Michael is Head of Security and Investigative Services at Ledger Labs Inc., a blockchain consulting firm operating out of Toronto, Canada. Michael is also board member of The Bitcoin Foundation and a founding member and director of the Bitcoin Alliance of Canada (BAC) where he had the opportunity to brief the Canadian Senate about the investigative impacts of Bitcoin technology. Michael has been invited to speak internationally on topics including digital forensics, information security, and Bitcoin security.

Faculty of Advisors
The following people use their industry experience and knowledge to help ensure C4 exams are accurate measures of cryptocurrency knowledge:

Gerald Cotten, CEO of QuadrigaCX Bitcoin Exchange
Steve Dakh, author of KryptoKit and RushWallet
Charles Hoskinson, Director of the Bitcoin Education Project
Richard Kiss, author of pycoin
Jonathan Mohan, organizer of BitcoinNYC
Piotr Piasecki, Chief Scientist at Provable Inc.
Jamie Robinson, CEO of QuickBT
Jason Rumney, Director, Intelletec
Peter Todd, Bitcoin Core Developer
Ethan Wilding, Ledger Labs

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          5 reasons Why I am economic Bitcoin Maximalist   

@BernardLunn wrote:

5 reasons Why I am economic Bitcoin Maximalist
Not a moral Bitcoin Maximalist. I don't say buying Bitcoin is any better for the world. Just that Bitcoin will be better than Altcoins as an investment. I said investment, meaning over the long term (plenty of short term trading opportunities in Altcoins)

One. Brand and network effects. Step outside the cryptoverse for a moment. Have any trouble explaining Bitcoin to a newby? Try Ethereum. Try hundreds of Altcoins. Building a crypto product/service? Building for Bitcoin is a no-brainer. Which Altcoin do you invest your R&D budget into?

Two. Not making any more of it. People fed up with money printing like land, gold...and Bitcoin. A big newbie question, but how can we believe "they" won't make more Bitcoin? Now ask that question of every Altcoin.

Three. Copy that. Sidechains will allow entrepreneurs to copy any feature of a cool Altcoin. Like Smart Contracts? Use Rootstock. Altcoins as a sandbox for experiments are a "good thing". As a donation to the community that is cool, as an investment thesis less so.

Four. Lightning Network. Sure we will also have Raiden on Ethereum. Raiden as an Enterprise IT tool is great, but that is very different from a true alternative currency for mainstream use; for that, see 1.

Five. Flight to safety from both directions. Coming from Fiat, Bitcoin is an Anti Fragile crash protection bet. Coming from Altcoins, Bitcoin is safe haven while still believing in Crypto. If you made millions in an ICO, where do you put your stash? No, really.

Ethereum is a wonderful technology innovation. It will be used by big corporations, but so what? If Proof of Stake really works, Ethereum could become a true public alternative currency because Proof Of Work is expensive. But that is like saying if we can easily transport solar energy we can get off fossil fuels - easier said than done. Casper in Etherum is still in development. Watch this space, this is a wild card.

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          Welcome to the DIM Ecosystem Initial Coin Offering, the Future of Equity on the Blockchain   

@Precious wrote:

The DIM Ecosystem is an evolution in cryptocurrency, it offers financial products and
services that allow the user to engage in a multitude of digital interactions.
The DIM Ecosystem will allow individuals and businesses to conduct state-of-the-art
encrypted transactions, send, receive, trade, manage company shares and assets in
online wallets. This will enable crypto stock trading and equity tokenization, on
computers, mobile devices or via password-encrypted paper certificates.
DIMCOIN will host a Pre-ICO (Initial Coin Offering) starting on the 1st of July, 2017 at
12:00 CET until the 15th of July at 23:59 CET. The ICO will start on the 16th of July at
00:00 CET until the 27th of August at 23:59 CET. Each 100 DIMCOIN purchased during
the ICO will receive 1 DIM TOKEN. A total of 1.74 billion DIMCOIN, including the bonuses
and the 10 million DIM TOKEN that will be allocated for purchase by investors during the
ICO.
The DIM TOKEN gives investors holding more than 50 DIM TOKEN some unique and
exclusive benefits within the DIM Ecosystem, which are voting rights and a percentage of
fees. The DIM TOKEN are an opportunity to earn lifetime recurring income based on
transactions.
Phase 1 (Pre-ICO) starts with a 30% BONUS, resulting in 1$ = 100 DIMCOIN ($ 0.01 per 1
DIMCOIN) + 30 DIMCOIN BONUS + 1 DIM TOKEN. The ICO bonus will decrease until the
end of the DIM TOKEN sale. Once the first funding goal of $10 million has been reached,
there will be a dynamic price offer of $0.02 up to $0.12 per DIMCOIN. After $30 million
has been reached, the price offer will be locked at $0.12 until all allocated coins have
been purchased. The DIMCOIN will be listed and traded on major cryptocurrency
exchanges around the world, starting in the 4th Quarter of 2017.
DIMCOIN is built using NEM blockchain technology, which offers a unique two-tier
design using node reputation, spam protection, and incentivised infrastructure through
supernodes, all to ensure transparent and secure online trading and transactions. With
NEM as a foundation, DIMCOIN will revolutionise the industry of financial services and
deliver a state-of-the-art ecosystem platform for assets and services.
Learn more about DIMCOIN and subscribe for updates on: www.dimcoin.io
DIMCOIN. Tomorrow. Today.


https://twitter.com/DIMCOIN_ICO

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          Robo platform for financial advisors   

@brandonvham wrote:

Does anyone know what the ballpark cost would be to build and maintain a robo platform for investment advisors using Etna API's and asi API's?

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          Results of our experiment Steemit is a nice interest graph intersection for me - both Fintech/Blockchain and Media   

@BernardLunn wrote:

Daily Fintech is on Steemit and we will publish results of our experiment.

For beginners to Steemit, there are many resources.

My first post is this one but copied to Steemit. If you are on Steemit, please go there and send it some up vote love.

If that gets a knee jerk reaction of “yet another work from home scam” that was also my initial knee jerk. But I also remember my knee jerk reactions to email, social media, e-commerce.

So as I started to hear more about Steemit, my interest grew and I decided to give it a try - to run an experiment.

I don't tend to jump in at the earliest stage. In Crossing the Chasm terminology, I am an Early Adopter "visionary", not an Innovator "techie" and I only jump in when I think there is a chance that it will move across the chasm to the Early Majority.

For example I started using email in 1994, LinkedIn in 2005 and Twitter in 2007. In each case they were a) easy to get started with and b) had a practical benefit for me. So that combination is what I was looking for from Steemit.

First, easy. The on-boarding experience was standard two factor authentication. I assumed I would then start publishing. Then I was told that my application was “awaiting approval”.

I was not the first to find this seemingly manual process step strange as this conversational thread on Steemit shows. I have copied some of the comments below:

“I am not sure the issue but its frustrating me. If i recommend it to someone and they cant sign up? Its not building hype but changing peoples minds about joining.

You will need to do the secret hand shake first.

Seems like it depends on the country. I have been getting friends to join from around the world and some get approved in a few days, while others are still waiting over a week later…

I feel like there are better ways to trap spam accounts though. Like, what is it that they're doing in that 48 hours? Is somebody manually checking these? All I can assume is that if they are querying some of the services available to see if the account has been used for spam purposes... but I doubt they're doing that manually or that's going to be a huge issue as they try to scale the site.
I'd definitely be interested to know what the technical reason is for the delay.”

Reading that I was thinking “well that experiment ended badly pretty quickly”, but when I got back to my email a few hours later, the approval was there.

So I still want to know why they have this approval process and whether it will get in the way of growth, but for now I just assume this is a pragmatic entrepreneurial “do things that don’t scale” that is life-stage appropriate. More importantly my experiment can continue.

So I am interested in the practical benefit question of whether one can make real money as a content creator on Steemit. In Social Media 1.0, the content creators got paid in attention not cash - think Facebook, LinkedIn and Twitter. If Steemit is Social Media 2.0, where content creators got paid in meaningful cash that is a big deal.

I have been a bear on the donations method of micropayment as the way for content creators getting paid. Putting up a Patreon button is easy enough, but donations is not an interesting model IMO. Why should somebody donate to a stranger? If I was a starving child in Africa, the charitable instinct kicks in. But Daily Fintech content is specialised and niche and not a charity case. So my theory says Patreon should not work but if I want to run a scientific experiment I should really run Patreon and Steemit side by side. Without the charity use case, there has to be a cut bono argument. There has to be a reason why somebody will pay.

The reason I think Steemit might work is my experience on a forum like Hacker News. (I say “might” because this is an experiment and this is only a hypothesis) Community curation works on Hacker News. It consistently surfaces interesting content. Getting rewarded in Karma points is cool. As I see Steemit, it is like getting Karma points that I can convert to cash.

Preconceptions from the Fintech/Blockchain realm.
So that is how I see it from a Media POV. Steemit is also interesting from a Fintech/Blockchain POV ie the sort of thing we write about on Daily Fintech.

After my experiment, I will know more. At this time I have some preconceptions:

Bitshares. The founder of Steemit had earlier founded Bitshares, which failed. This can lead to two conclusions:

Whatever he touches fails, so Steemit will fail.
If he learned from Bitshares he is a tried and tested entrepreneur who may make it second time around.

I incline to 2. I have seen many ventures that were simply too early. I think Bitshares was like that. At some point we may see something like Bitshares go mainstream and then Bitshares will be honoured with a footnote in history.

Its Complicated.

You can read about 3 currency units here (key points copied below):

Steem:
Steem are the units that are bought and sold for actual money on the open markets. You can trade them as you would bitcoins or a company’s stock.
But you don’t want to hold on to these for too long because more Steem Units are created every single day. If you hold onto Steem Units for a long time, they will become diluted and lose value.
Steem Power:
Owning Steem Power Units is essentially like making a long term investment in the currency because you can’t sell Steem Power Units for 2 years. But there are a lot of good reasons to have Steem Power.
By keeping your currency as Steem Power Units, you will be able to make considerably more money in the long run because you essentially have ownership in the network. As the network grows, so will your piece of the pie.
And you’ll be heavily rewarded along the way. The way things are set up now, 90% of the new Steem Currency that is generated every single day is distributed to the people who already hold Steem Power Units in the form of additional Steem Units. (The other 10% goes to content creators and curators).
Half of the pay you receive for your content will be in Steem Power Units.
Also, the more Steem Power Units you have, the more your curation vote will count. You will have more influence on the site and you will also get paid more for upvoting other people’s work. (When you upvote someone’s work, they will get paid more as well.)
Steem Power Units also play one final and very important role. They prevent massive price swings and volatility on the open markets. Because everyone is locked in for 2 years, we can’t all sell our currency all at once if the market starts to dip, which would crash the price were it to happen.
Steem Dollars:
Steem Dollars are the third and final form of the currency and never get diluted or lose their value. They are designed to be a stable currency that you can sell at any time. When you create popular content, 50% of your pay will be in Steem Dollars.
And you’ll be rewarded for holding Steem dollars too. It’s not nearly as much as the rewards for holding Steem Power. But because it still keeps the currency in the network, holding Steem Dollars pays 10% interest.
When you earn Steem Dollars for creating content, you have three choices:
1) You can convert the Steem Dollars to Steem and sell it immediately on the open market for real money, essentially cashing out.
2) You can hold the Steem Dollars, which keeps the money in the network and pays you 10% interest. You can sell them at any time. If you think the value will go up and want to sell at some point in the near future, this is your best option.
3) You can exchange your Steem Dollars for Steem Power. If you want to invest in the future of the currency and reap the biggest rewards, this is the way to do it.

My knee jerk reaction, that is too complex and sounds a tad scammy, just give me some cash. So let me run the experiment and see what happens. I do not have a policy on these currency units going into the experiment.

Is it really Blockchain?
The jaded journalist in me sees a classic HypeWord1+HypeWord2 in Steemit as in SocialMedia+Blockchain. Adding Blockchain to anything is a classic hype gambit as in IOT+Blockchain (21) or SupplyChainFinance+Blockchain (Hive) or Adtech+Blockchain (BAT). Some of these ventures maybe real but the concatenation of hype words sounds my hype alarm. The question remains, how does Blockchain really enable Steemit. I don’t know but will suspend disbelief till I find out.

My first post is this one but copied to Steemit. If you are on Steemit, please go there and send it some up vote love.

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          Decentralised crypto exchanges   

@BernardLunn wrote:

I am aware of 3:

Lykke

0x

OpenANX

Who else?

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          4 warning signs of an ICO scam or money burner   

@BernardLunn wrote:

To an investor, scam or just bad deal from honest entrepreneur are the same - a money burner.

These 4 warning signs are like a first filter.

  1. Short window to decide. This is a FOMO tactic.

  2. Uncapped raise. Imagine a traditional fund raise where investor asks “how much are you raising?” and the answer is “we won’t tell you”.

  3. Minimum Viable White Paper (MVWP). Term coined (sic) by Andreas Antonopolous. An empty GitHub is a bad sign.

  4. Lots of buzzwords and breathless hype on social media. You know the pitches that look like they were created by a random buzzword generator.

I thought Wall Street was a rough market where you had to be super careful, but the ICO market is worse.

There are still ponies in there, but you have to dig through a lot of pony poop first.

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          Why Putin endorsed Ethereum by meeting Vitalik Buterin   

@BernardLunn wrote:

They met in June as reported in many news sites including this one.

For the head of state of one of the most powerful countries on earth to meet a 23 year old developer is unusual. Why would Putin, a master of state power meet, and by doing so endorse, the leader of a community that is antithetical to state power?

There is a conspiracy theory that they cooked up a plan to control Ethereum. That would so obviously fail that it implies that Putin and Buterin are stupid (which is clearly not the case).

Putin clearly wants to disrupt American power any way he can. Disrupting the US$ as a reserve currency is part of this. He knows that the Russian Ruble is not a contender. So why not promote an alternative, however far fetched?

Decentralization will disrupt the power of the corporate giants of the Centralized Internet era, most of whom are American and none of whom are Russian. So why not promote a leading platform for Decentralization?

Russia has a lot of people with crypto expertise who will benefit as this grows.

Of course it helps that that the idea of ETH ("Gas") as a commodity like oil is intuitively easy for the Russian leader to understand.

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          Venture Wanted - P2P Insurance for Bitcoin exchanges   

@BernardLunn wrote:

Mostly we write about ventures trying to find their market. In this case we are doing the opposite. We are writing about a problem and inviting the community to either tell us about an existing solution or come together to co-create a solution.

The problem is how to enable newcomers to Bitcoin to convert from Fiat to Bitcoin without worrying about funds getting stolen (as they were on Exchanges such as Mt Gox and Bitfinex).

One solution is a form of insurance, some kind of “common risk pool fund”, that would insure customer funds in case of theft.

Call it a free market alternative to government schemes such as FDIC.

Maybe a P2P Insurance venture looking for an early adopter market with a serious pain point is listening?

Fintech Genome is the place where great conversations make things happen. Chip in to help make this happen (or tell us if it already exists).

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          Technical Analyses of Ethereum & Other Thoughts   

@mikeenikee wrote:

I've recently been pondering over traditional investing principles and how they apply to crpyto. A lot of people are quick to say "throw those out the window, they're useless." For the most part, I'd have to agree, but the exceptions are just too big to ignore. In addition to looking at what principles we can carry over with finance 2.0 we should also look at what new principles we can synthesize going forward. The following are a few questions I've complied to spark a discussion around this topic.

How can we plot it against its own specs such as hashrate and/or uncle rate and/or block per second? One study showed that there was a (network) correlation between daily transactions squared and the price per ether. (link: http://imgur.com/a/tzdUv).

How can we analyze herd mentalities? Are herds good or bad, and what about in finance 2.0? Do herds affect the success of a coin (i.e. Less adopters = failure)?

What is the science behind technology being replaced by new technology? What causes the migration from one tech to the next? How will Ethereum surpass Bitcoin in general popularity, not only market cap?

What's the inflation of ethereum like? Is inflation only relative to its own domain and not others?

I've been thinking the above over for quite awhile now and would like to hear other people's thoughts and to catalyze each others' thinking.

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          Blockchain Token Securities Law Framework ITO ICO Self Regulatory Code of Conduct   

@BernardLunn wrote:

Reuben Bramanathan has already done the hard work of creating a Blockchain Token Securities Law Framework.

The Framework has been prepared in collaboration with Coin Center, Union Square Ventures and Consensys. It is open source and free to use.

Reuben is a Blockchain Lawyer and Product Counsel @coinbase. Thanks Reuben and those who sponsored and backed it.

It is open source, so I have reproduced it below. It is a huge step forward in the mission of creating a Self Regulatory Code of Conduct for ITO ICO.

A Securities Law Framework for Blockchain Tokens
A blockchain token is a digital token created on a blockchain as part of a decentralized software
protocol.
There are many different types of blockchain tokens, each with varying characteristics and uses. Some blockchain tokens, like Bitcoin, function as a digital currency. Others can represent a right to tangible assets like gold or real estate.
Blockchain tokens can also be used in new protocols and networks to create distributed applications. These tokens are sometimes also referred to as App Coins or Protocol Tokens. These types of tokens represent the next phase of innovation in blockchain technology, and the potential for new types of business models that are decentralized - for example, cloud computing without Amazon, social networks without Facebook, or online marketplaces without eBay.
However, there are a number of difficult legal questions surrounding blockchain tokens. For example, some tokens, depending on their features, may be subject to US federal or state securities laws. This would mean, among other things, that it is illegal to offer them for sale to US residents except by registration or exemption. Similar rules apply in many other countries.
The Framework focuses on US federal securities law because these laws pose the biggest risk for crowdsales of blockchain tokens. In many jurisdictions, there may also be issues under anti-money laundering laws and general consumer protection laws, as well as specific laws depending on what the token actually does.
This document is a general guide for developers and users of tokens.
Part 1 is designed to estimate how likely a particular token is to be a security under US federal securities law.
Part 2 sets out some best practices for crowdsales.
Part 3 is a detailed securities law analysis by Debevoise & Plimpton LLP.
As more fully set forth in the component parts of this document, the document does not constitute legal advice and should not be relied on by any person. Developers and users should consult their own counsel in connection with their initiatives in this area.
1
You should not rely on this Framework as legal advice. It is designed for general informational purposes only, as a guide to certain of the conceptual considerations associated with the narrow issues it addresses. You should seek advice from your own counsel, who is familiar with the particular facts and circumstances of what you intend and can give you tailored advice. This Framework is provided “as is” with no representations, warranties or obligations to update, although we reserve the right to modify or change this Framework from time to time. No attorney-client relationship or privilege is created, nor is this intended to be attorney advertising in any jurisdiction.
December 7, 2016

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          My take on the Bancor ICO ITO   

@BernardLunn wrote:

Some things remain the same no matter the technology. In ye olde world of Wall Street, some IPOs are hyped. The value is irrelevant, you just play the momentum game. Some ICOs are also like that. Bancor seems like that.

Some IPOs seem to fail and then deliver massive value. Think Facebook.

The Bancor ICO feels like 1999 at hyper speed - you thought those days were fast moving, ha!

As an investor you can play both IPOs and ICOs the same way. You can either play the momentum game. Its all about sentiment, what the company actually does is irrelevant (it just needs to have a plausible story). Plenty of people play that game very well. The other way, which I prefer, is to wait till some time after the IPO or ICO or ITO to see what happens. That is is the whole point of liquidity; you choose when to jump in. If there is no liquidity - if the proposition is "send the money right now, its your last chance" - it is probably a scam.

Will Bangor actually provide liquidity without any counterparty risk? If so they have huge value. If not, this will be footnote in the history of Blockchain, Bitcoin and Crypto.

In short, wait and see.

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          Disruption in Life Insurance - who have we missed?   

@BernardLunn wrote:

I am only looking at pure play Life Insurance. Lots of ventures have Life Insurance as one part of their offering. They are not our focus today.

The ones that I see that have raised substantial funding fairly recently are:

Sureify Labs $3.1m Dec 2016
Ladder $14m October 2016
Sure. $2.6m May 20
Fabric. $2.5m March 2017

This is a tough space. This post gives you some background why Life Insurance is a hard market to crack:

Who have we missed? What do you know about this space? Are there any great ventures still below the radar funding wise? What are the best examples of incumbents innovating in Life Insurance? Please go to Fintech Genome to share your knowledge.

Added via Fintech Genome community:

The German insurtech startup Getsurance has raised $2.8m and has recently launched the first digital life insurance product in Europe.

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          Jurisdictional bakeoff for ITOs Estonia vs Delaware   

@BernardLunn wrote:

Let’s say you are a digital entrepreneur in Ulan Bator with a game-changing product/idea. Your location precludes traditional VC. You are not interested in your home market (Mongolia), your product is global. Where do you register your company? In ye olden days, the answer would have been restricted to setting up in Mongolia. Now as you think globally and you think about raising money via an ITO, you have choices. The two most forward looking in this space are Estonia and Delaware. I deliberately used the example of an entrepreneur in Ulan Bator to eliminate home country bias. If you are in America, you have a home bias to Delaware. If in Europe, you have a home bias to Estonia.

There are other jurisdictions – UK, Switzerland, Malta in Europe and Singapore in Asia come to mind.

Delaware has great strength in traditional equity and is forward-looking on Blockchain. Estonia is a leader in e-residency and as the home of Skype in its early days has decentralization in its DNA.

Who has experience to share on these two jurisdictions? Or other jurisdictions that have a lot to offer in ITOs?

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          Bancor - project to build complete liquidity for ANY cryptocurrency   

@Eddy wrote:

Hey all,

I was introducing this project to Bernard & Efi, and they recommend I post it here to see what the community thinks:

I've kept it under 3 minutes reading time. (this is about as complex & game changing as ETH itself, so 3 minutes to explain it all is something of a feat)


You ever find it weird how fast blockchain tech is growing, yet how little most of the world knows about it?

We’ve got projects working on decentralizing the computing power behind the whole internet, making it possible to create governments where every citizen’s vote on every issue can be counted, enabling IoT devices that can make their own transactions (like your autonomous car paying for it’s own charge at a charging station), and changing the way the global financial system works on almost all facets… yet bring up blockchain with anyone you meet in the ‘regular’ world, and they’ll almost always have almost no idea what you’re talking about.

Blockchain is, in the regular world, an unknown and unused technology.

Bancor’s grand goal is to change that.

How?

Well we’ve got a theory that, if one could make cryptocurrencies so easy to create and so fully liquid that they could represent any store of value at all, it would ignite the ‘long-tail’ of cryptocurrencies the same way youtube ignited the long tail of video… any currency, no matter how small (from company ‘shares’, to concert tickets, to personal tokens, city currencies, small-business tokens, tokens of ownership & identity, time-share tokens… etc. etc.), could be part of the global financial system.

This would fundamentally change the way the global financial system works.

In the words of Bernard Liaetar, co-architect of the Euro, "Bancor creates liquidity and allows for automatic price discovery without requiring a counterparty, which is a breakthrough”. The reason is, kinda like how our inefficient solar panels only capture a small fraction of the total potential energy the sun gives the earth, the current financial system commoditizes only a small fraction of the potential value that humanity can create and exchange.

Here’s how it works: Bancor is an open-sourced protocol that enables anyone to create a new type of cryptocurrency called a smart token, which can hold (and trade) other cryptocurrencies in reserve. It's money that holds money.

A smart token serves as its own market maker, discovers its own price, and buys/sells smart tokens & reserve currencies on its own, thereby removing the need for a second party in cryptocurrency trades. In other words, every smart token and reserve currency is immediately and permanently exchangeable for any other currency on the Bancor network (which can potentially include all cryptocurrencies in existence) without needing to find the acceptance of exchanges (and their fees).

I**t's already up and running in live beta here at app.bancor.network with >3000 users,** where we're distributing real, tradable, ERC20 tokens for our bounty program. You can deep dive on exactly how it works in the Bancor Whitepaper (https://bancor.network/whitepaper/en). We’ve also caught the attention of sites like Coindesk, Econotimes, & ETHNews, and won awards like best public blockchain at CoinAgenda. You can see all that stuff here, by the way :slight_smile:

And on June 12 at 10:00 GMT, we'll be launching our crowdsale & creating the Bancor Network Token, the first fully functional smart token which will serve as the default reserve token for every other smart token on the Bancor network (which is what will make every currency on the network inter-tradable).

If creating the democratization of money & enabling the long tail of user-generated currencies with this sounds like your cup of tea, I'd love to hear what you think of Bancor and its upcoming BNT crowdsale.

-Eddy

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          Mark Cuban Asserts That Bitcoin is Not Currency. Do you agree?   

@BernardLunn wrote:

By capitalising Bitcoin, the answer is that no it is not a currency it is a payment rail/technology. If he wrote that bitcoin is not a currency or that BTC is not a currency maybe the answer is different.

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          Mini Series - The Future of the Risk Markets   

@KarmaCoverage wrote:

This is a first segment in a four part mini series about "The Future of the Risk Markets", touching on...

  • Complexity and Resilence in the Risk Markets
  • Peer-to-Peer in the Risk Markets
  • Blockchain in the Risk Markets
  • Potential impacts in the Risk Markets

Please feel free to poke holes, ask questions, or simply discuss the concepts.

Edit:
* https://banknxt.com/60988/01-complexity-resilience-risk-markets/
* http://insurancethoughtleadership.com/complexity-and-resilience-in-the-risk-markets/

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          One spot to get the 80 best Fintech blogs - Daily Fintech of course included   

@Anuj wrote:

Feedspot is a place to read all your favorite blogs in one place. It send a daily email digest with updates from blogs you have added to your account.
A list of top 80 Fintech Blogs have been curated and ranked based on their social metrics, traffic, content quality, frequency of post and google rank of their blog and some human input as well.
Hope you will find the blogs useful. If any blog is missing, please comment and we will be sure to add them as well.

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          On this election day, do you think UK can reclaim its Fintech Capital of the World title?   

@BernardLunn wrote:

Do global players look at UK as an entry to Europe or the world? Can UK ventures compete on the global stage with the best from America and Asia!

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          Why AI will not add significant value to asset management   

@JabairuStork wrote:

The way I see it, there are three main drivers of asset manager returns (excluding fees), and adding AI to any of them doesn't help much in terms of improving outcomes for investors (non-institutional investors.)

Portfolio Construction: As long as your assets look like stocks or ETF funds, you don't add much value by going beyond mean/var optimization with constraints. Most investors don't need and can't access exotic assets, and for those who can it's less a question of optimizing the portfolio than it is of getting access to the investments in the first place. This is an easy problem in the first order approximation, and you don't gain much by adding complexity.

Execution trading: Over time, trading adds value by 1) providing liquidity, and 2) being better than the other traders in the market. 1) Marginal returns to providing liquidity in already liquid markets are small, and in illiquid markets its not a problem for an algorithm but rather needs major innovation in how the market functions.. 2) this is a zero sum game, and as the arms race of faster and smarter algorithms accelerates it converges to zero for all participants who survive.

Asset/Security selection: This is probably the area where AI could add the most value. It's also the area that has proven most problematic, such that a huge amount of total assets have migrated away from active selection and into passive index investment. Vehicles that paid to take security selection risk, such as hedge funds, are already pretty actively using algorithmic strategies. Consensus thinking is that for the typical retail investor, it's not worth the risk for the incremental return. Taking more security level risk, assuming the methodology is "smart", will increase returns. It will also increase variance of returns and concentration within individual assets. For a very large chunk of total financial assets being managed, even an AI that was good at security selection would not be desirable.

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          Could fund strategies be better managed by Intelligent ML/Ai based platforms?   

@tomn wrote:

I would be interested in knowing what your views are around a platform which could run any fund strategy and optimise it for Portfolio performance metrics? If such a platform were to exist, it would offer Asset Managers the ability to focus on AUM whilst the the Machine Learning based automation takes care of the fund management and produces optimal performance. This would fundamentally alter the value offering - humans are great at relationships ie managing inflows of AUM, machines are better at understanding data and automation - ie processing market price data to evaluate optimal investing strategies and returns.

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          New thoughts on crypto investing   

@davids wrote:

I have a new piece on Bitcoin Magazine today. The gist of it is that the ICO market is now being played by professionals. Please read and share:

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          Fast prototyping space (FPS) inside an insurance carrier   

@EnriqueT wrote:

Hi all. One of major obstacles for carriers to develop new products are legacy systems, unefficiency and big lots required to justify the economics of new product launches. Often they may become obsolete or fail to the expectations but pile up in the legacy portfolio.

I want to explore whether there are solutions in a SaaS environment which allow a rapid protopyping of new products even if not fully linked to the carrier´s main systems. The intention is to co-create innovative solutions with key selected customers and develop a quick fully functional product/service in the FPS. Does anyone have views? Thanks.

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          Need reviewers for an ICO white paper   

@davids wrote:

Dear genomers,

We're getting ready for a big ICO in summer. It's a big project. We want it to be successful. I am looking for anyone who will read our white paper and give feedback. Please send your email to me and I'll send you an invitation: david@2030.io

Thanks,

David

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          Security & D-Wave systems   

@Jonathan wrote:

From my comment on Linedin ref "Blockchain For The Automotive" (IoT) Your thought please:
Hmmm Daily Fintech I am intuitively not convinced, thinking what would a new cyber Dirac's thoughts be with D-wave probabilities - indeterminacy ref block-chain. I accept my thinking is more Faraday than Maxwell. I keep banging the drum re cyber security : The writing was on the wall when the game of Go resulted in mortals losing whilst the algo was playing the game to learn. I doubt many institutions / corporate groups access to D-Wave systems , Cyber security professionals would not have even considered access when algo v algo will not be about mortal intervention. Fintech Insurtech ? who will use a company that cannot defend its client from algo cyber attacks so named "thought leader" cyber consultants with few exceptions are echo chambers salesmen on conference rounds who have not considered the clear & present danger
https://www.linkedin.com/pulse/cyber-security-clear-present-dangers-peter-alexander-denega
Geordie Rose presentation from some time ago: https://www.youtube.com/watch?v=PqN_2jDVbOU
What say you about D-Wave Eli ?

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          A self-regulatory code of conduct for ITO (Initial Token Offering) and ICO   

@BernardLunn wrote:

I Am Not A Lawyer, but just in case I will borrow the disclaimer that lawyers use.

Disclaimer: The following analysis is for informational purposes only and does not constitute legal advice. You should contact an attorney for advice with respect to any particular issue or problem. Use of and access to this post does not create any attorney-client relationship between the author and the user or reader.

Read on, plenty of lawyers involved in making this happen.

This document outlines:

❏ Why ITOs are difficult to understand

❏ Why ITOs could be very valuable

❏ Why ITOs are dangerous

❏ Why the conventional regulatory approach won’t work

❏ One approach to the global jurisdictional problem

❏ The people behind this initiative

❏ The process from here

Why ITOs are difficult to understand
Is it a bird, is it a plane, is it a…
It is a new paradigm, yet all of us (entrepreneurs, investors and regulators) seek a simple analogy from traditional finance. Is it a:

● Currency (ICO) like another Altcoin?
● Equity (IEO) with a fixed supply (max = 100%)?
● Bond (IBO) with a fixed income?
● ANO Asset (IAO) (like property, art, wine)?
● Something entirely new where none of the old analogies quite work? This could be something technical like a database right or access right.

We use the term Initial Token Offering because “token” is neutral. A token represents value and that value could be a currency, equity shares, a fixed income bond or any other asset. However we also recognise that ICO is used by most people in the market.

These are new concepts and none of the old analogies fit. Different market participants see it in different ways and some promote that view out of self interest. These competing viewpoints from interested parties make understanding even harder.

Why ITOs could be very valuable
The old saw is “if it ain’t broke, don’t fix it”.
The corollary is “if it is broke, find a way to fix it”.
The innovation capital business is broken for both parties:

  • Entrepreneurs need an easier way to raise the capital that they need to get a product/service built and into the market. The end result is a product/service, capital is simply a tool to that end. The problem is that investors, even those who claim to be early stage, want evidence of traction to avoid the chasm that so many ventures fall into before achieving Product Market Fit (PMF). This pushes more risk to founders and their friends/families. The IPO window keeps getting harder to get through, leaving a dwindling number of acquirers, making investors even more risk averse.

  • Investors need a chance to get in early but also to get liquidity. By the time most investors get a chance at IPO (when they have liquidity), the best returns have often already been taken by private investors. Yet if they try to get into private rounds most investors are at a disadvantage to the top tier VC funds and they have to accept their capital being locked up with no control over liquidity. This is hard for even the HNWI and UHNWI investors, but it is doubly hard for smaller investors who are sometimes legally prohibited or have to pay a big % in legal expenses.

ITOs – done right – could help both parties because there is liquidity, which allows some investors/traders to take a short term view if they want to (and these speculators provide liquidity). ITOs also have some of the advantages of rewards based crowdfunding services like Kickstarter, because the investors in ITOs are often also the users. They use the tokens on the network/service. So they help get the venture to PMF. It is their passion and knowledge that drives the process.

Why ICO/ITO is dangerous
It is very simple to raise money via an ITO (ICO). This will bring out honest entrepreneurs who are fed up with the current way of raising capital. It will also bring out crooks. It already has. So far early investors have been people playing with “found money”. For example if you invested in Bitcoin in 2009-2011, putting some of those profits into Ether in 2014 seemed pretty easy, even if you follow it up by losing it on the DAO in 2016. It is quite different when Josephine Q Public is investing from earnings that took 40 years to accumulate and which she is banking on for a comfortable retirement. If ITO scales, more crooks and more Josephine Q Public actors get involved.
The words Initial and Offering make one think of IPO and that is beguiling for both entrepreneurs and investors and that can make them blind to the downside.

The Howey test (from an SEC legal case from 1946) is basically – if it looks and acts like an equity it probably is. Many ICOs fail this test, putting them in the regulatory cross hairs.
This is a problem for both parties:

  • Honest Entrepreneurs get “tarred with the same brush” from scams and lousy offerings and will face a heavy regulatory backlash.

  • Investors will face scammers who are very skillful both technically and in obfuscation and marketing.

Why the conventional regulatory approach won’t work

Two end results will be bad:

  • Unregulated scamsters discredit the whole ITO concept, causing investors to shun them.
    or
  • A regulatory backlash kills the potential of ITOs for both entrepreneurs and investors by being too heavy handed.

Lots of vested interests in the capital markets (such as big VC funds and investment bankers) will be hurt if ITOs go mainstream. So we can expect many well reasoned calls for strict regulation.

One very powerful feature of ITOs is that they are totally global and permissionless - like bitcoin. Josephine Q. Public can invest in an ITO without permission from any commercial or government institution no matter where she is based and no matter where the entrepreneur is based and no matter how much money she has. Yet regulation works on a sovereign jurisdictional basis and in many jurisdictions there are competing agencies involved in any single transaction. If we let one big powerful jurisdiction define the rules (say USA or EU or China), there are too many complex conflicts of interests and many other jurisdictions will want to add their local nuance. Then we will have a complex overlapping set of regulations that will kill the agility/simplicity that entrepreneurs and investors like about ITOs.

Sovereign jurisdiction still does matter. Smart Contracts are great until there is a dispute and even in a well designed smart contract there are exceptions that the designers never anticipated. That is when old fashioned courts, judges, juries (in some countries) and lawyers are needed.

One approach to the global jurisdictional problem

Digital communication is permissionless. I don’t need permission to send an email/text to somebody in another country. Money is different - bits don’t stop at borders but money has to show its passport.

One approach is to keep it simple by defining three different sovereign jurisdiction locations:

❏ Where the entity is located. This will encourage jurisdictional competition. Jurisdictions will have to get the balance right between meeting the needs of both entrepreneurs and investors. Too far in one direction will not be sustainable. Examples of jurisdictions that may want to innovate like this are Switzerland, Malta, Iceland, Estonia, UK, Delaware, Hong Kong, Singapore.

❏ Where the token buyer is located. This is where the rules can vary from country to country. We may also eventually see the securitization of tokens, which would allow a token buyer to decide whether they want to go through an onshore or offshore vehicle. In this scenario, feeder funds will emerge and compete in major jurisdictions.

❏ Where the founding team, directors/officers are located. In todays world this can be multiple locations and separate from Entity location, but investors should be able to see in which jurisdiction they are in case it all goes wrong and the investors want to take them to court.

The objective of the ITO Self Regulatory Code of Conduct is simple. We want an Issuer to say “we abide by the ITO Self Regulatory Code of Conduct”. Our aim is to offer simple tools to compare any offer to this Self Regulatory Code of Conduct.

The people behind this initiative

https://www.linkedin.com/in/bernardlunn/

https://www.linkedin.com/in/oscarjofre/

The process from here

To start with we are inviting public comments on the mission. Then we will create a model code of conduct and invite comments on that.

If you would like to get more involved please tell us in comments. We want people who have the rare combination of expertise in a subject that few people understand without having too much conflict of interest.

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          Raise more capital or exit? Do the math   

@georgios wrote:

Hello all and thank you @Efi for the invitation to join the discussion.

My firm, Venero Capital Advisors, created an Excel model to help entrepreneurs and investors assess the impact of revenue growth on the value of their shares. By tweaking a few straightforward inputs, the analysis shows whether it will be more value-accretive to stay the course, raise more capital or exit.

We have had a great response to it. You can download the file from http://www.venerocapital.com/download_analysis.html

And we published a post explaining the approach here: https://pulse.venerocapital.com/raise-another-round-of-venture-capital-or-exit-do-the-math-4fc23d8a7ac0

Hope you find it useful. Any thoughts / feedback is most welcome.

Kind regards,
Georgios

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          Ask FG: data source for stocks relisting   

@BernardLunn wrote:

When researching stocks, I have found that a good initial filter is companies that are relisting from OTCBB or OTCQB to a main exchange like NYSE or NASDAQ. You don’t get the hype and overvaluation of the IPO phase, but it is sometimes a signal that management has confidence in the future.
What I cannot find is a source that will give me upcoming relistings. If I can get a source of upcoming relistings, I can buy on the OTC and wait for price rise post relisting.
It is only a first level filter – many will still be junk.
Any ideas for that source? Ideally not in an expensive service like Bloomberg.

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          fintechFIVE: Avoka   
Will Beaumont from Avoka talks the importance of market feedback and the book that's had the most influence on him professionally.
          Fintech Summit: ¿relación de amor u odio con la banca?   
El pasado 3 de marzo, en el campus Madrid de Google, tuvo lugar el Fintech Summit, una jornada para tomarle el pulso a las diferentes iniciativas que conforman el escenario fintech en nuestras fronteras. Además, el evento estuvo bien acompañado por la banca para comprobar en qué momento se encuentra la relación entre ambos sectores. [...]
          Comment on 2015 Year in Review Infographic by A Global Perspective Of Israeli Tech In 2015 | TechCrunch | FintechLab   
[…] heating up or syndications and co-investments leading to increased round sizes and valuations, the story of Israel’s 2015 startup activity shares much in common with the global technology […]
          Cuatrecasas Acelera amplia su segunda edición a otros sectores como el FinTech o e-commerce   
En esta segunda edición de Cuatrecasas Acelera podrán participar proyectos con base tecnológica que ofrezcan soluciones innovadoras tanto en el LegalTech como en otros ámbitos diferentes, siempre que tengan un componente de complejidad jurídica elevada. 
          PayNow: Send cash with just recipient's mobile phone or identity card number from 10 July 2017   
Go cashless with PayNow fund transfers from July 10
By Lee Xin En, The Straits Times, 28 Jun 2017

Singapore made another step towards becoming a cashless society with a new fund transfer option that requires just a mobile phone number or NRIC number.

The PayNow system, which will start on July 10, will be offered by seven banks.

People who want to receive payments will have to link their mobile and NRIC numbers to their accounts, either on the bank's website or through its mobile app.

One bank account can be linked to one mobile number and one NRIC number, and the sender will be able to see the recipient's name before confirming the transfer.



The push towards innovation in payments will help address an issue highlighted by Prime Minister Lee Hsien Loong earlier this year when he said that compared with other countries, Singapore could do more to promote cashless payments, in hawker centres, in shops and between people.

Finance Minister Heng Swee Keat told the annual Association of Banks in Singapore (ABS) dinner last night that a Payments Council led by the Monetary Authority of Singapore (MAS) will be set up. Its 18 representatives from banks, payment companies, industry associations and businesses will discuss payment strategies and promote solutions.

MAS is also reviewing the regulatory regime for payments, he said.

He added that the Government is looking into using PayNow to make payments directly to people's bank accounts using their NRIC numbers.

This would eliminate the need to "update each government agency one by one when we change banks. We will just need to link our new bank account to our NRIC via PayNow".

ABS director Ong-Ang Ai Boon stressed the need to "move to the digital world", adding that customers want a "fast, convenient, frictionless, safe, secure" service, and do not want to have to remember bank account numbers.

Mrs Ong said digital transactions are more productive and efficient than cash and cheque clearances, which are slower and more costly.

PayNow rides on FAST, a transfer service launched in 2014 which enables customers of 19 banks to transfer funds almost instantly.

The seven participating banks cover about 90 per cent of retail transaction volume here.

Ms Jacquelyn Tan, head of personal finance services for UOB, said its customers have embraced FAST, with a 92 per cent increase in such transactions from 2015 to 2016. In contrast, over-the-counter cash and cheque transactions have fallen by almost 15 per cent.

Mr Jeremy Soo, head of consumer banking at DBS, said FAST transactions grew 42 per cent last year.

Mr Pranav Seth, head of e-business, business transformation and fintech and innovation group at OCBC Bank, said its PayAnyone electronic service has seen transactions increase fourfold, while payment volumes have shot up tenfold.

"It is a war on cash," he said, adding that PayNow will make digital payments easier in many cases than using cash.

Professor Teo Hock Hai of the School of Computing at the National University of Singapore said a "mobile number is easy to remember and enter, and will facilitate consumer-to-consumer payment and transfers tremendously".

However, he noted that consumer-to-consumer payments make up only a fraction of total volume, and the real challenge will be transactions between merchants and customers.





Singapore banks to be allowed to operate and invest in digital platforms, e-commerce
By Yasmine Yahya, Assistant Business Editor, The Straits Times, 28 Jun 2017

The next Taobao or Amazon might not come out of a garage or student dormitory, but from Singapore's financial district.

Finance Minister Heng Swee Keat said yesterday that local banks will soon be allowed to operate or acquire major stakes in digital platforms matching buyers and sellers and businesses involved in the online sale of consumer goods and services.

He told the Association of Banks in Singapore's (ABS) annual dinner that making it easier for banks to conduct or invest in non-financial businesses that are related or complementary to their core financial businesses would help them to compete more effectively with new, non-bank technology players that offer "a seamless transactional experience in the sale as well as payment of consumer goods".

The rule tweak is a significant concession in the regulatory framework separating banks' financial and non-financial businesses that was introduced in 2001 to ensure that banks remain focused on their core businesses and competencies.

However, banks will continue to be barred from entering certain businesses such as property development and the provision of hotel and resort facilities.

The Monetary Authority of Singapore (MAS) move dovetailed with an ABS announcement yesterday of a new fund transfer system to allow banking customers to send money to one another using just the recipient's mobile or NRIC number.

Customers of seven banks participating in the PayNow service system can register for the service from 8am on July 10.

Mr Heng said these moves will help position Singapore's financial sector for a tech-driven future.

"The advent of mobile apps and e-commerce platforms have disrupted traditional business models and transformed consumer preferences," he noted. "Technology is also transforming financial services and the way banking customers consume these services."

For example, he said, non-financial firms like China's WeChat have created platforms enabling people to not only chat, but also buy and pay for goods and services, including financial products, all within one app.

To help lenders better compete and innovate, Mr Heng said, banks will soon no longer need approval from MAS if they want to conduct or acquire major stakes in digital platforms matching buyers and sellers and businesses that sell consumer goods and services online.

However, such non-financial businesses should be limited to just 10 per cent of a bank's capital funds.

Full details of the proposed new rules will be released in a consultation paper in September.

Responding to the announcement, DBS chief executive Piyush Gupta told The Straits Times: "The logic is compelling.

"With the ubiquity of the smartphone, customers increasingly want banking to be seamlessly integrated into their daily lives.

"In China, for example, ICBC (the Industrial and Commercial Bank of China) has a site that is one of the leading online shopping malls. There are a number of areas where a banking service can be nicely integrated into e-commerce, and we welcome the opportunity to do so."



          New Book by Dan Schatt Discusses How Banks and Tech Companies Can Partner for Success   

Virtual Banking, by former PayPal GM, explores the future of Fintech and how banks need to respond in era of Bitcoin, digital wallets and big data

(PRWeb August 18, 2014)

Read the full story at http://www.prweb.com/releases/DanSchatt/VirtualBanks/prweb12098713.htm


          日経FinTechがイベント開催、給与前払いサービスやアルゴリズムトレードなどが登壇   
 専門情報誌の日経FinTechが6月23日、全日イベント「Nikkei FinTech Conference 2017#2」を東京・神田で開催した。イベントには官公庁や金融機関、Fintechスタートアップなどが集まったが、ここでは主にスタートアップ企業が登壇したNikkei FinTech Startups Awards 2017の参加企業を紹介しよう。 Read More
          Software Developer at Cellulant Nigeria   
Cellulant is Africa’s no.1 company in the payments & transfers category – Fintech Awards 2016. We are a PPISP (Payment Platform Infrastructure Service Provider) regulated by the Central...

          How Technology Will Transform The Finance Sector - Executive Summary   

Over the last few years, a tidal wave of technological advances in automation, data handling, analytics, and cyber security have been transforming the business world. ‘Disruption’ is now the norm in many industries, as they reshape themselves to fit the new mould and rise to modern expectations of service, innovation, and efficiency. Given this let’s take a look at what FinTech trends you can expect to see in the next few years.
          How Foursquare Quietly Became A Data-Science Powerhouse   

How Foursquare Quietly Became A Data-Science Powerhouse

“Our data scientists take the approach that a hedge fund manager would—big picture, what are we seeing in terms of trends to locations?” Moran said. [Link to Full Article]

          Consumer Attitudes towards FinTech - Canada - June 2017   

“Awareness of some of the newer digital products is still fairly low so companies offering these products need to explain to Canadians how these products can simplify their financial lives.”

 - Sanjay Sharma, Senior Financial Services Analyst

This report will cover the following areas:

  •     Women are not as prolific in digital finance tool usage
  •     Consumers are not overly enthusiastic about mobile payment adoption
  •     Men are more optimistic about the positive impact of technology
  •     Canadians are fairly satisfied with current providers
  •     Around three in 10 Canadians are interested in using technology to improve decision-making

€3,666.43

          Ping An has $1 billion to invest in start-ups   
Jonathan Larsen, Ping An Group, talks about the Chinese insurer's Global Voyager Fund that focuses on fintech and health care start-ups.
          Fintech and innovation leader Simon Moss joins Grant Thornton   
Simon Moss has joined Grant Thornton LLP as a managing director in its Financial Services Advisor...
Journal quotidien finance innovation

          Comment on Towards an Open Banking API Standard by Ben peress   
This is certainly welcomed news as a smaller fintech app developer. The current workflow depends on a combination of third parties to provide the missing banking plumbing. I've used Plaid as a read API for ACH credentials and access to end users' transaction streams and Stripe for payment processing. I look forward to a future of native, reliable APIs. It simply seems to valuable to never exist.
          2017 PitchBook Venture Ecosystem FactBook: Seattle   

Has the boom in Seattle’s economy overheated prices to the extent it is discouraging entrepreneurial activity? What of the roles played by Amazon and Microsoft—are they thwarting or encouraging innovation? Algorithmic Central Banking? Experts Warn Of A Wipeout For South […]

The post 2017 PitchBook Venture Ecosystem FactBook: Seattle appeared first on ValueWalk.


          Fintech in Nederland lijdt onder wet op de remmende voorsprong   
Nederland heeft volop belangstelling voor fintech, maar het gebruik ervan valt vergeleken met andere landen toch wat tegen. Dat blijkt uit onderzoek van accountants- en advieskantoor EY.
          Thai mPOS startup Digio raises Series A from InVent to fund regional expansion and team growth   

InVent believes that fintech is one of the technologies that can improve customers’ convenience and make their life easier Thailand-based mobile point-of-sale (mPOS) startup Digio has raised Series A funding from InVent, a venture capital arm of Intouch Holdings Public Company Limited (SET:INTUCH). The funding amount was undisclosed. According to Nopphorn Danchainam, CEO and Founder of Digio, the […]

The post Thai mPOS startup Digio raises Series A from InVent to fund regional expansion and team growth appeared first on e27.


          Flywire CEO to Speak at Money20/20 Europe   

Flywire CEO Mike Massaro will participate in a panel discussion on the digital state of cross-border payments at the 2017 Money20/20 Europe Conference taking place in Copenhagen, Denmark this week. He will be joined by executives from Azimo, Fintech Ventures Group, K&L Gates LLP, and WorldRemit to discuss recent advances in cross-border payment processing and technologies and the potential for future innovation.


          Clarus Risk wins three categories at 12th Annual ACQ5 Global Awards   
Clarus Risk, a niche FinTech provider of high quality, customisable risk reporting solutions has been honoured with wins in three categories of the ACQ5 Global Awards for 2017: UK – Niche Fintech Company of the Year Offshore – Niche Fintech Company of the Year Offshore – Financial Risk Management Solutions Provider of the Year “The […]
          App-only bank N26 doesn't care about 'short-term profits' — it wants to build a European bank that will make rivals 'redundant'   

Number26 founders Maximilian Tayenthal and Valentin Stalf.

COPENHAGEN, Denmark — App-only startup bank N26 is one of Europe's hottest startups — and it's moving very fast.

The Berlin-headquartered bank announced on Monday that it has partnered with fellow startup Clark to offer insurance through its app.

It's one of a number of new products that N26 has launched this year, either built in-house or conceived through partnerships. Other launches include an overdraft you can apply for through your smartphone and a partnership with German investment platform Raisin.

"Right now it's about making traditional banks redundant, in that we offer a product for every financial need of our customers," cofounder and CFO Maximilian Tayenthal told Business Insider at the Money2020 conference in Copenhagen this week.

"Today, if you're a customer and you want to use a savings product you still have an excuse to use something other than N26. In the next 6 months, we want to bring one product and what we see as the best product in every category."

They have already made good progress, Tayenthal says: "Right now if you want to do a cross-border currency transfer, you can do this with TransferWise over N26. For investment, we're partnering with Raisin. For insurance, we're partnering with Clark. For us, we really want to disrupt banking by launching products that cover every aspect of financial services."

Ultimately, N26 aims to become "the leading pan-European for 18-to-35-year-olds." It is already well on its way. Tayenthal founded the company with Valentin Stalf in 2013 and four years later it has close to half a million customers across 17 European countries. It is a fully licensed bank with its own core banking platform.

This momentum has attracted significant attention. Hong Kong billionaire Li Ka-Shing led a $40 million funding round into the startup last year — "He likes to do investments that are disruptive to industries," Tayenthal says — and CNBC named N26 as one of Europe's 50 hottest startups this year.

N26 insurance android iphoneHowever, there are detractors. Some are skeptical that N26 can make the economics work — to make the product marketplace model they envision profitable the company would need a huge, highly-active customer base.

ING's head of fintech Benoit Legrand told Business Insider last year: "Frankly, if you look at the neobank [as app-only banks are known] space — they’re flourishing everywhere but we’re still waiting for the business model to show up. Where is the money? Where is the return?"

Tayenthal says: "We used to get people saying you don't have a business model. It's not true. We always had a clear monetization strategy.

He adds: "What is true is that no one at N26 has a single monetary KPI in the first year after our launch. We were working on our customer base, on the branding, on launching products, building up the team. We didn't work on short-term monetization. We want to be an app that customers open once a day.

N26 is "not focused on short-term profits," he says. For now, it's all growth, growth, growth.

"We have positive unit economics which is cool, so every customer we add to the platform is making the business less negative," Tayenthal says. "When it comes to our revenue model, one has to understand that we operate at a very low cost. We acquire customers at a much lower cost. Secondly, we have much lower overheads. We have lower IT costs, everything is automated. We don't have branches."

N26 is working on building more credit products and also has plans to expand its current product range across all the markets it is in. There are no immediate plans to get into business banking space but "in the long run we will launch a product there as well," Tayenthal says.

One notable market where N26 is absent is the UK. The Times reported in April that N26 was set to launch in Britain by the end of the year, but Tayenthal is coy.

He says: "It's a really interesting market and we are thoroughly looking at it," before adding: "I don't want to commit to any timeline."

Join the conversation about this story »

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          Barclays spoke to regulators about bringing bitcoin 'into play'   
Barclays has been in discussions with regulators and financial technology – or fintech – firms about bringing cryptocurrencies like bitcoin "into play", the bank's U.K. chief executive told CNBC on Monday.
          App-only bank N26 doesn’t care about ‘short-term profits’ — it wants to build a European bank that will make rivals ‘redundant’   
Number26 founders Maximilian Tayenthal and Valentin Stalf.

Number26

N26 cofounder and CFO Maximilian Tayenthal.

COPENHAGEN, Denmark — App-only startup bank N26 is one of Europe’s hottest startups — and it’s moving very fast.

The Berlin-headquartered bank announced on Monday that it has partnered with fellow startup Clark to offer insurance through its app.

It’s one of a number of new products that N26 has launched this year, either built in-house or conceived through partnerships. Other launches include an overdraft you can apply for through your smartphone and a partnership with German investment platform Raisin.

“Right now it’s about making traditional banks redundant, in that we offer a product for every financial need of our customers,” cofounder and CFO Maximilian Tayenthal told Business Insider at the Money2020 conference in Copenhagen this week.

“Today, if you’re a customer and you want to use a savings product you still have an excuse to use something other than N26. In the next 6 months, we want to bring one product and what we see as the best product in every category.”

They have already made good progress, Tayenthal says: “Right now if you want to do a cross-border currency transfer, you can do this with TransferWise over N26. For investment, we’re partnering with Raisin. For insurance, we’re partnering with Clark. For us, we really want to disrupt banking by launching products that cover every aspect of financial services.”

Ultimately, N26 aims to become “the leading pan-European for 18-to-35-year-olds.” It is already well on its way. Tayenthal founded the company with Valentin Stalf in 2013 and four years later it has close to half a million customers across 17 European countries. It is a fully licensed bank with its own core banking platform.

This momentum has attracted significant attention. Hong Kong billionaire Li Ka-Shing led a $40 million funding round into the startup last year — “He likes to do investments that are disruptive to industries,” Tayenthal says — and CNBC named N26 as one of Europe’s 50 hottest startups this year.

N26 insurance android iphone

N26

N26’s insurance partnership with Clark.

However, there are detractors. Some are skeptical that N26 can make the economics work — to make the product marketplace model they envision profitable the company would need a huge, highly-active customer base.

ING’s head of fintech Benoit Legrand told Business Insider last year: “Frankly, if you look at the neobank [as app-only banks are known] space — they’re flourishing everywhere but we’re still waiting for the business model to show up. Where is the money? Where is the return?”

Tayenthal says: “We used to get people saying you don’t have a business model. It’s not true. We always had a clear monetization strategy.

He adds: “What is true is that no one at N26 has a single monetary KPI in the first year after our launch. We were working on our customer base, on the branding, on launching products, building up the team. We didn’t work on short-term monetization. We want to be an app that customers open once a day.

N26 is “not focused on short-term profits,” he says. For now, it’s all growth, growth, growth.

“We have positive unit economics which is cool, so every customer we add to the platform is making the business less negative,” Tayenthal says. “When it comes to our revenue model, one has to understand that we operate at a very low cost. We acquire customers at a much lower cost. Secondly, we have much lower overheads. We have lower IT costs, everything is automated. We don’t have branches.”

N26 is working on building more credit products and also has plans to expand its current product range across all the markets it is in. There are no immediate plans to get into business banking space but “in the long run we will launch a product there as well,” Tayenthal says.

One notable market where N26 is absent is the UK. The Times reported in April that N26 was set to launch in Britain by the end of the year, but Tayenthal is coy.

He says: “It’s a really interesting market and we are thoroughly looking at it,” before adding: “I don’t want to commit to any timeline.”

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          10 things you need to know in markets today   
Mark Carney

Reuters/Pool

Governor of the Bank of England Mark Carney hosts a quarterly Inflation Report press conference at the Bank of England in central London, Britain August 4, 2016.

Good morning! Here’s what you need to know in markets on Thursday.

1. The value of the pound jumped on Wednesday afternoon after Bank of England Governor Mark Carney hinted that he could be close to voting for a hike in interest rates during a panel appearanceA week ago he said “now is not yet the time” for an increase.

2. Investors in the Co-op Bank’s bonds are facing the second big reduction in the value of their holdings within four years after the struggling lender revealed the terms of a £700 million bailout, the Times reports. Retail bondholders will take at least a 55 per cent cut in their investments under the terms of a third recapitalisation of Co-op Bank since the discovery in 2013 of a £1.5 billion black hole in its finances.

3. Tesco is planning to axe 1,200 jobs at its head office. The news comes after the company announced it was cutting night shifts in some of its largest stores as part of cost-cutting measures

4. The EU may have to cut farm subsidies after Brexit to fill the budgetary black hole caused by Britain’s withdrawal, the Times reports. Günther Oettinger, the European budget commissioner, said in a blog yesterday: “The departure of the United Kingdom alone leaves us with a revenue shortfall of minimum €10 billion a year.”

5. A trip to Poland by U.S. President Donald Trump next week may feel like a diplomatic coup for the right-wing government, but western European nations are uneasy it will encourage Warsaw’s defiance towards Brussels, Reuters reports. Trump visits Poland for one day – en route to a G20 summit in Hamburg, Germany – to take part in a gathering of leaders from central Europe, Baltic states and the Balkans, an event convened by Poland to bolster regional trade and infrastructure.

6. Japan’s Nikkei share average rose on Thursday morning to hover near two-year highs after Wall Street rebounded, with tech share outperforming the overall market, Reuters reports. It gained 0.5% to 20,238.75 in midmorning trade, moving closer to 20,318.11 hit last week, the highest level since August 2015. Meanwhile, the broader Topix gained 0.8% to its near two-year high of 1,627.54.

7. The number of cars rolling off UK production lines in May plunged, as demand among British motorists for new vehicles fell, according to Official data from industry trade body the Society of Motor Manufacturers and Traders, the Telegraph reportsMay saw 136,119 new cars built in Britain, down 9.7% on the same month last year.

8. The Investment Association has issued a so-called “amber alert” to its members ahead of Burberry’s shareholder meeting next week while Institutional Shareholder Services (ISS) has also urged investors to vote against Burberry’s remuneration report, the Telegraph reportsThe fashion house is under pressure over the financial renumeration paid to two of its most senior staff.

9. Fintech app Revolut is finalising a new round of funding that will value it at £300m. Sky News reports that Revolut, a payments app which undercuts traditional rivals, is in the final stages of talks about a deal that will see it raising more than £50m, Sky News reports.

10. Annual house price growth in the capital has slowed to 1.2%, according to Nationwide’s June house — the weakest pace of growth in the capital since 2012. London prices have been affected by a number of factors including stagnant wage growth, mortgage affordability, Brexit-related uncertainty, volatile sterling, and stretched valuations.

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          Davos' FinTech Left One Innovation Out   
Today's IT infrastructures in banks have grown historically over decades. Creating a helicopter view of the IT landscape is sometimes impossible because it takes a large group of experts from different areas in a bank to talk to each other in order to get an overview.
          Update: S-peek – Credit rating (Finance)   

S-peek – Credit rating 3.1.5


Device: iOS Universal
Category: Finance
Price: Free, Version: 3.1.4 -> 3.1.5 (iTunes)

Description:

Every rating of every company in Europe by the First Official Fintech Rating Agency in Europe.

Winner of the GranPrix CheBanca award as Best Fintech Company

s-peek is a free and easy-to-use app helping users understanding the credit rating of the companies and the economic/financial quality of all capital companies and small and medium-sized enterprises in all Europe.

Thanks to s-peek you can have every European company at your fingertips, check their reliability, profitability and their health status.

With s-peek you have access to the information of over 20 million companies and you can:
- Learn about credit rating and commercial credit limit;
- Check out the most important financial data;
- Download business information in PDF format (via web only);
- Automatically monitor all relevant updates concerning the purchased report;
- Organize your portfolio by labels;
- Invite your friends to use s-peek (and you get free credits!);

Immediate access to credit rating, commercial credit limit and financial information of every European company!

Want financial information of all European companies instantly?
Want to know about the Credit rating of all companies? Want to learn about credit limit and the maximum exposure of all your customers?

S-peek is what you’re looking for. Here are some reviews by the users who have already tried S-peek:

New design and really interesting new options. Fascinating app to quickly understand the economic and financial performance of Italian and foreign companies.

Really useful to quickly place the business partner, whether a client or a provider. Reports are not for free, but find the same information would cost much more.

Congratulations! Really useful, clear and suitable for all user, even those less experienced.

Really useful to immediately understand if a potential client will pay or not.

All assessments present in s-peek are expressed using all available public information about the company examined such as: company details, financial statements, industry sector concerned and so on.

The credit rating and the commercial credit limit available within the application are evaluated through the innovative Multi Objective Rating Evaluation
(http://www.modefinance.com/home/MOREphilosophy.html) methodology, a product of modeFinance (Official Rating Agency in Europe). This innovation studies the company as a complex system and deepens the analysis of its different areas: solvency, debt coverage, liquidity, cash cycle, profitability, fixed assets coverage ratio, comparison with the sector concerned and so on.

The color associated with each company is the macro category of credit rating assessed according to the last available annual financial statement.
Green: AAA, AA, A, BBB
Yellow: BB, B
Red: CCC, CC, C, D
Grey: rating not assessable due to the lack of some financial data.

Flash: allows you to quickly obtain basic information such as: credit rating of the previous three years, commercial credit limit, analysis main macro areas of the company (solvency, liquidity, profitability), sectorial comparison.

Extended12M: allows you to further explore the information on the basic report with budget items such as turnover, profits (or losses) of the financial year, total assets, shareholders' equity. This report also includes corporate registration information
(address, phone, sector, etc.).

In order to increase the ease of use, web version and mobile version display synchronized information.

What's New

General bugfixes and improvements

S-peek – Credit rating


          【FinTech】手持ちの品、即現金化「CASH」査定中止 初日に3.6億円分利用、「夢にも思っていなかった」と運営元 2ヶ月で手数料15% (thread.length)   
手持ちの品、即現金化「CASH」査定中止 初日に3.6億円分利用、「夢にも思っていなかった」と運営元 - ITmedia NEWS
http://www.itmedia.co.jp/news/articles/1706/29/news065.html
2017年06月29日 10時50分 更新

 ネットベンチャーのバンク(東京都渋谷区)は6月29日、ユーザーが手持ちの品をスマートフォンアプリに入力するだけで、その品の査定を受けられ、査定額相当の現金をすぐに受け取れるiOSアプリ「CASH」(キャッシュ)の査定機能を一時停止したと発表した。サービス開始初日の28日だけで3億6000万円分以上の利用があり、同社の処理能力を超えたとし、「初日にここまで多く利用されるとは夢にも思っていなかった」と見通しの甘さを謝罪している。

 CASHは、スマートフォンアプリから商品のブランドや状態を選び、写真をアップロードすると、即座に「査定」を受けられ、査定額(上限は2万円)相当の現金を、銀行振り込みかコンビニで受け取れるアプリ。査定を受けた商品は、集荷依頼して2カ月以内に同社に送る(送料無料)か、返金手数料(査定額の15%)を支払えば手元に残せる。査定額は、ユーザーが選択した商品ジャンルや状態を基に計算されており、写真は審査していない。

 28日のサービス開始と同時にTwitterで話題になり、利用が急増。バンクによると、アプリによって手持ちの品が現金化された回数は約7万3000回(うち、集荷依頼のあった品は7512個)、現金化総額は約3億6600万円、1アイテム当たりの平均査定額は5031円、アプリの想定ダウンロード数は約2万9000回だったという。

 同社は29日、「想像をはるかに超えた利用があった」とし、一時的に、商品の査定機能を停止したと発表した。同社は社員4人ほどの企業で、「毎日7000点以上の商品を受け取ったり、3億5000万円以上の現金を供給する体制や規模が整っていない」ためという。「ここまで多くのみなさまに、初日に利用してもらえるとは、正直なところ、夢にも思っていませんでした」とつづっている。現金の引き出しなど査定以外の機能は引き続き提供している。

 CASHは、身近なFinTechサービスとして注目を集めた一方、「返金手数料を利息ととらえると出資法の上限を大きく超えており、ヤミ金に近いのでは」「選んだ商品カテゴリーと写真が無関係でも一定の査定額が表示されるなど、査定が雑すぎる」などの批判や、未成年の利用を危ぐする声もある。
          Maharashtra CM Devendra Fadnavis inaugurates Fintech startup accelerator ISME Ace   
Maharashtra CM Devendra Fadnavis inaugurates Fintech startup accelerator ISME Ace Indian School of Management and Entrepreneurship (ISME) Ace, India’s largest FinTech Accelerator Program, was inaugurated by Maharashtra Chief Minister Devendra Fadnavis.
          Detailberatung der WAK-N zum FINIG vor Abschluss   
Die Wirtschaftskommission des Nationalrates (WAK-N) hat die Detailberatung zum Finanzinstitutsgesetz (FINIG) weitestgehend abgeschlossen (siehe Medienmitteilung vom 21. Juni 2017). Die WAK-N ist vorwiegend dem Ständerat gefolgt.

So will auch die WAK-N die unabhängigen Vermögensverwalter nicht direkt der Finanzmarktaufsicht FINMA unterstellen. Diese sollen vielmehr einer von der FINMA bewilligten und beaufsichtigten Aufsichtsorganisation unterstehen.

Weiter hat die WAK-N einen Antrag, die Fintech-Bestimmungen separat zu behandeln statt sie in das FINIG aufzunehmen, abgelehnt. Sie verlangt jedoch noch weitere Abklärungen nachdem der Bundesrat aufgrund seiner Vernehmlassung neu auch das Konsumkreditgesetz anpassen möchte.

Schliesslich lehnt die WAK-N die redaktionellen Änderungen des Bankengesetzes ab und schlägt vor, die Artikel zum Bankeninsolvenzrecht sowie die Artikel betreffend die Genossenschaftsbanken in eine separate Vorlage auszugliedern.

Die Gesamtabstimmung zum Finanzdienstleistungsgesetz (FIDLEG) und zum FINIG wird die WAK-N am 14./15. August vornehmen und der Nationalrat die beiden Gesetze in der Herbstsession beraten.

Claude Ehrensperger

          IBM apuesta por el emprendimiento en el sector fintech.   
El Camino al futuro digital gracias al ecosistema blockchain Gracias al IBM Global Enterpreneur Program, una startup canadiense lidera el impulso del Blockchain con el desarrollo de multitud de aplicaciones. La startup canadiense Nuco, finalista del IBM SmartCamp organizado por el Programa de Impulso a Emprendedores de IBM, ha aprovechado el nuevo ecosistema IBM Blockchain…
          Indexa Capital, La Bolsa Social, Housers y MyTripleA galardonadas en el Spanish FinTech Awards 2017   
Para reconocer la labor de las FinTech más importantes del año, nacen los Spanish FinTech Awards 2017 Al cierre del FinTech Unconference 2017, evento anual que reúne a los 100 CEOs líderes del sector en España, organizado por Finnovating, en la sede del IEB como partner académico, se ha celebrado el Spanish FinTech Awards 2017.…
          IBM: una alianza innovadora para construir el futuro de los servicios financieros   
La tecnología aplicada a los servicios financieros ha sido la clave fundamental para la innovación del mundo Fintech en los últimos años. En IBM lo sabemos y por eso queremos presentarle  nuestra más recite guía FinTech donde encontrará los beneficios que supone establecer una alianza con nosotros tanto a compañías FinTech como a proveedores de…
          PROMOTOR DE CREDITOS MEJORAVIT- IMSS - Broxel Fintech - Playa del Carmen, QRoo.   
*Innovamos con tecnología financiera para revolucionar los medios de pago, basadas en tecnología financiera, con el objetivo de crear ecosistemas financieros $7,000 al mes
De Indeed - Tue, 30 May 2017 23:18:05 GMT - Ver todos los empleos en Playa del Carmen, QRoo.
          Why This FinTech Firm Reminds One Analyst of Tesla   
In a new note, an analyst calls credit-card processor Square “the Tesla of Payments.”

          HK’s Qupital secures seed investment to address Asia's SME financing gap   

Qupital, a Hong Kong-based online invoice discounting exchange, has secured a seed investment round of US$2 million to fund its small and medium enterprise (SME) financing platform and fuel its rapid regional expansion.

The round was led by MindWorks Ventures and Alibaba Entrepreneurs Fund, with co-investment from DRL Capital, Aria Group and other investors.

Qupital was founded in March 2016 by Andy Chan, a Brown University alumnus, and Winston Wong, a Hong Kong University of Science and Technology alumnus, in Hong Kong to address a lack of efficient SME financing solutions in the market.

More than 25% of Hong Kong's 300,000 SMEs reported that the lack of access to working capital is a major barrier to their growth and internationalization. Qupital aims to address Asia's reported US$200 billion SME financing gap by allowing clients to turn their accounts receivables into cash. The accounts receivables market in China is more than US$3 trillion annually.

"We began our journey together in Hong Kong when we noticed that there were many businesses here that had cash locked up in unpaid invoices while being underserved by traditional lenders with slow and cumbersome processes,” said Chan.

"Qupital's vision is to help inject liquidity into the market, reducing SMEs cost of financing and enabling professional investors access to an entirely new asset class of accounts receivables,” added Wong. "At the same time, we are excited about the opportunity to work with Alibaba to reach a brand-new audience of businesses, both in Hong Kong and regionally."

Qupital currently serves a wide range of SMEs in the export, manufacturing, and distribution sectors. The company actively approaches hedge funds, family offices and other mature professional investors to fund the invoices.

"Qupital is a textbook example of how internet and technology helps to optimise a traditional industry," said David Chang, managing partner at MindWorks Ventures, a Hong Kong-based regional venture capital firm. "There is a large financing gap in Asia for underserved SMEs, and we look forward to Qupital becoming the dominant player for this market," Chang said.

"We are thrilled to see Qupital's innovation to help SMEs access more cost-efficient financing channels,” said Cindy Chow, executive director at Alibaba Entrepreneurs Fund. "We look forward to working with creative startups like Qupital to further develop the FinTech market in Hong Kong," Chow said.

"We are very impressed by the vision and determination of the founders of Qupital; we believe there is an enormous market for a trade finance platform in Asia," said Steve Ho, principal at DRL Capital, a Hong Kong-based regional private equity fund. "Qupital serves as a perfect bridge between the SMEs and the yield-seeking investors. We are excited about the future of Qupital -- a new way for capital to be deployed.”

 


          Earthport deploys Accuity for payments and compliance    

Cross-border payments provider Earthport has chosen Accuity to power its payments platform, with the aim to give clients a faster and more secure international payment service.

Accuity has built a tailored solution for Earthport, comprising payment support and broader compliance solutions for screening transactions and customers. The combination of these solutions alongside Earthport’s technology aims to give customers the ability to make transactions instantly, with banks using their liquidity to deposit funds immediately. This is an improvement over the industry standard transaction time of two hours minimum.

Rosie Faulkner, MLRO, Earthport commented: “One way we continue to retain our position as best in class for instant transactions is by constantly reviewing the best compliance solutions. Accuity is a natural choice for us as its technology is at the forefront when it comes to compliance and payments. It offers the peace of mind that our clients’ transactions are certain, safe and compliant. Having a solution tailored to our payments business means that no matter where in the world our clients want to make a transaction, we can facilitate it.”

Bob McKay, Managing Director, Accuity, added: “The move points to an emerging trend in working partnerships between fintech and regtech providers. Tailoring solutions to specific clients means we can work in an agile way and support any fintech or larger organization that wants to protect its customers and reputation.”

 


          Software Developer   

Cellulant is Africa’s no.1 company in the payments & transfers category – Fintech Awards 2016. We are a PPISP (Payment Platform Infrastructure Service Provider) regulated by the Central Bank of Nigeria (CBN) and insured by Nigerian Deposit Insurance Corporation (NDIC).

We are recruiting to fill the position below:

Job Position: Software Developer
Job Location: Lagos
Reports to: Head of Technology software

          Senior Back End (Python) Developer - Zartis - Málaga   
Buscamos a un Senior Back End developer con amplia experiencia desarrollando en Python, para incorporarse al equipo. En la actualidad colaboramos con una empresa FinTech de origen británico, que está ampliando su equipo técnico en sus oficinas de Málaga centro. Nuestro cliente es una innovadora compañía de Fintech especializada en transacciones entre compañías internacionales. Fue fundada hace casi 10 años y continúa creciendo e innovando en el ámbito tecnológico, haciendo uso de...
          IMF Report Supports Use Of Cryptocurrencies By Banks   

The international monetary fund, IMF,  has released its latest report surrounding the use of cryptocurrencies in the fintech environment. It has regarded the recent development as a revolution of financial services which it emphasis should be supported by the current banking institutions too. The report supported the use of cryptocurrencies like bitcoin for many purposes […]

The post IMF Report Supports Use Of Cryptocurrencies By Banks appeared first on BTC Nigeria.


          Fintech in the UK and Hungary   
Read Eva’s new FINTECH article on the City of London Research Blog!
          DevOps Engineer Distributed Data (Cassandra) - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Fri, 23 Jun 2017 14:06:55 GMT - Toon alle vacatures in Noord-Holland
          Full Stack Heroes - ING - Noord-Holland   
ING is transforming rapidly towards a top notch IT company with a Top Engineering culture, incorporating FinTech start-up mentality and financial innovation....
Van ING - Wed, 14 Jun 2017 07:58:22 GMT - Toon alle vacatures in Noord-Holland
          Готовьтесь к новой эре Fintech: искусственный интеллект в банках и цифровые сотрудники   
«Финтех» – термин, завоевавший всеобщее внимание и основательно вошедший в лексикон специалистов и простых обывателей. Каким образом технологии привели к цифровизации услуг и что ждет индустрию в ближайшее время? Финтехом принято считать...
          La Banca Centrale Cinese punta su blockchain e Intelligenza artificiale   

La Banca Centrale della Repubblica Popolare Cinese ha annunciato un piano quinquennale per lo sviluppo di nuove tecnologie, in particolare la blockchain e l’intelligenza artificiale applicate all’industry finanziaria.   Nel quadro del piano è previsto inoltre il rafforzamento dell’attività di ricerca e sviluppo di nuove applicazioni fintech nel campo regolatorio, di nuovi soluzioni cloud e […]

The post La Banca Centrale Cinese punta su blockchain e Intelligenza artificiale appeared first on Key4biz.


          (USA-MA-Wellesley) Senior Java Engineer - SaaS, RESTful APIs, Linux   
Senior Java Engineer - SaaS, RESTful APIs, Linux Senior Java Engineer - SaaS, RESTful APIs, Linux - Skills Required - Java, Caching, RESTful APIs, SaaS, Jenkins, Puppet, Chef We are a FinTech company in the greater Boston area that is focused on changing transforming ourselves and our industry. We are currently looking for a talented Senior Java Engineer to help us create next generation solutions that are focused around new and emerging technologies . **What You Will Be Doing** - Design and develop scalable, back-end, data services using SaaS based technology - Create standard Restful APIs to expose all functionality - Leverage existing open source technology where appropriate - Solve tough design and architectural problems - Work well on product teams with Quality Engineers and Product Owners **What You Need for this Position** - 5+ years of Java Development Experience - Experience with SaaS Scalable Techonolgies - Experience with micro-services, distributed cloud services, distributed data, caching, and RESTful APIs. - Experience with Jenkins, Puppet, or Chef **Top Reasons to Work with Us** - 15% Bonus - 4 weeks vacation - Top Salary So, if you are a Senior Java Engineer with RESTful APIs experience in an SaaS environment, please apply today! Applicants must be authorized to work in the U.S. **CyberCoders, Inc is proud to be an Equal Opportunity Employer** All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, protected veteran status, or any other characteristic protected by law. **Your Right to Work** – In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire. *Senior Java Engineer - SaaS, RESTful APIs, Linux* *MA-Wellesley* *WW3-1382313*
          Futurology – Future of Startups   
The Futurology Team chats to Will Green (@willjngreen) about the future of startups, where we throw back on what startups meant 10 years ago to now... and then throw forward to what a startup could be like in the future. Will is a successful founder in the world of media with Apurimac Media, where he partnered with businesses like Yahoo. Now he is back out there in the world of Fintechs and changing humanity with his new startup Colab.
          Futurology – The Future of Fintech: Building on Blockchain   
The Futurology team chats to Strate CEO, Monica Singer, about how Strate is using Blockchain for the electronic settlement of financial instruments in South Africa (bonds, money markets, equities).
          Khaitan advises Paragon on investments   

Khaitan & Co advised Paragon Advisor Partners LLP in relation to its primary investment in Visu Leasing and Finance Private Limited, Bee Fintech Private Limited and Booth Fintech Private Limited. Kartick Maheshwari (Partner); Namrata Mehta (Principal Associate); Kinshuk Jhunjhunwala (Senior Associate); and Anish Mohanty (Associate) represented the client on the transaction.

The post Khaitan advises Paragon on investments appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.


          Blockchain, Fintech et cryptomonnaies : nouvel horizon du monde de la finance ?   
By: fdecomite – CC BY 2.0 Par Hugo Gerlier. Serait-ce le nouvel eldorado de l’univers financier ? Durant les derniers mois voire la dernière année, la fintech a eu le vent en poupe. Ce (pour l’instant) petit monde des nouvelles technologies de la finance est florissant et la sphère de la blockchain, dominée par le fameux « Bitcoin » […]
          Half of banking customers now using fintech   

Financial technology (fintech) products and services are picking up tremendous steam, particularly with younger, tech-savvy and affluent customers, according to the World FinTech Report 2017 (WFTR), recently released by Capgemini, LinkedIn and Efma (a global nonprofit organization composed of banks and insurance companies). But even as fintech firms reshape the financial services landscape, customers are struggling to trust them.

"We're seeing adoption across the globe," says Bill Sullivan, head of Global Financial Services Market Intelligence at Capgemini Financial Services. "It's not so much replacing incumbents as adding on."

[ Related: How 3 fintech startups are shaking up security ]

To read this article in full or to leave a comment, please click here


          Kina është vendi me adoptimin më të lartë të FinTech   

Ritmi i adoptimit të FinTech ndryshon nga njëri vend tek tjetri. Sipas firmës së shërbimeve profesionale EY e cila ka realizuar një hulutim në këtë industri, Kina është vendi më i avancuar me numrin më të lartë të popullsisë e cila përdor shërbimet FinTech. Në tërësi kjo figurë qëndron në 69% të popullsisë. Nëse flasim […]

The post Kina është vendi me adoptimin më të lartë të FinTech appeared first on PCWorld Albanian.


           招行获《银行家》七项创新大奖 高居同业榜首    

  近日,《银行家》杂志社主办的“2017中国金融创新论坛”在北京举行,招商银行凭借强大的创新基因,一举拿下七个“创新”大奖,获奖数高居同业榜首。

  七个奖项分别为: “最佳金融创新奖”(最高级别奖项)、“十佳互联网金融产品创新奖”(招商银行APP5.0)、“十佳财富管理创新奖”(摩羯智投)、“十佳家族信托管理创新奖”(私人银行业务)、 “十佳金融产品创新奖”(离岸资本金融、全功能网上托管银行2.0、集中审批零售信贷工厂)。

  《银行家》杂志社成立于2001年,聚焦金融行业发展,迄今已举办九届“中国金融创新论坛”,其较高的知名度与影响力在业内广受认可。招行历来就有以技术创新推动业务发展的基因,早已在业界树立了技术型银行的口碑,也正是这种与生俱来的创新基因,使得招行在本届“中国金融创新论坛”中一举拿下七项大奖。

  出席此次创新论坛的招商银行党委委员、北京分行行长汪建中在演讲中介绍到,招行正在举全行“洪荒之力”推进Fintech战略,并设立了专项基金,按照“引领前沿、鼓励创新、市场运作、重奖成功、容忍失败”的原则,搭建一套金融科技项目创新体系,着力构建具有差异化竞争优势的商业模式。

(招商银行党委委员、北京分行行长汪建中)

  据了解,招商银行第一笔内部专项创新基金已到位,金额达7.9亿元(上一年度税前利润1%),鼓励内部各经营单位及全体员工积极申请金融科技创新项目。这是招商银行董事会为激发创新的一项重大举措,也是招商银行大力发展FinTech的一项创举。

  实际上,科技兴行本身就是招商银行最基本、最核心、最经久的理念,从全行战略到基础设施建设、开发管理模式、组织架构等方面,招行一贯重视新兴技术的发展,并持续不断对新技术及其创新应用进行提前布局和投资。

  招商银行零售网络银行部总经理江朝阳在论坛中表示,未来智能化时代的银行业竞争,不仅是业务创新的同台竞技,更是金融科技的大比拼。只有快速应对金融需求的新变化,更好地融合金融科技和传统银行优势,并运用大数据的价值和创造力服务更个性化、更高需求的客户的银行,才能创造更强大的核心竞争力。

(招商银行零售网络银行部总经理江朝阳)

  在手机银行创新方面,2016年年底上线的招商银行手机银行APP5.0版,使用生物识别技术使客户交互更自然友善,大数据分析技术实现了360°全视角收支记录和综合收益报告。而其搭载的“摩羯智投”,更是机器学习算法和银行财富管理实践经验第一次在银行业中的结合应用,实现人与机器的智能融合,开启了智能理财的全新时代。

  在零售信贷创新方面,招商银行零售信贷工厂利用强大的技术创新,实现“一个中心批全国、一个中心批全品种”。对于贷款审批,招行零售信贷工厂采用“大数据+评分卡+决策引擎”的数据化审批技术,建立了丰富的信息数据库,为贷款审批提供完善的决策建议。

  在家族信托业务方面,招商银行推崇“私人医生”投顾方式,客户经理对客户的财务状况作体检,及时发现问题,开方解药,量身定制专属的投资规划,提供全方位、个性化、私密性的综合财富管理服务。

  在离岸金融创新方面,招商银行离岸金融的创新重心进一步转向多元化融资模式,在海外二级市场、跨境股权投资、跨境并购、过桥贷款、境外银团贷款、结构化融资、出口买方信贷项目融资、离岸同业代付、商业地产REITS等多个领域进行了积极探索。

  在托管业务创新方面,招商银行推出“全功能网上托管银行2.0”,实现了海量托管项目精准定位、投资要素信息自动查询与核算等功能,通过数据分析、流程优化,化冗为简,智而不繁,将指令处理效率提升2倍,把资产核算与费用结算效率提升5倍,成为助推行业标准的好推手。


          «Les jeunes sociétés qui veulent accélérer ont du mal à se financer»   
Le financement des projets de développement des entreprises demeure un problème, que la fintech SparkUp, spécialisée dans l’accompagnement en levées de fonds, entend résoudre.
          Investors are preparing to give fintech app Revolut £50 million even though it's bleeding money   
  • Revolut Nikolay_CEO & Founder v2Revolut has revenues of £2.3 million.
  • But its sales costs are £7.8 million.
  • Despite that, investors are planning to put £50 million more into the company.
  • "Growth is the new profitability," some fintech insiders say.

LONDON — Fast-growing fintech app Revolut is close to sealing a £50 million funding round that will value the nascent company at £300 million, Sky News reports.

London VC Index Ventures, already an investor in Revolut, is leading the round, Sky says. Silicon Valley investor Ribbit Capital is also said to be taking part in the round. CEO and founder Nikolay Storonsky told TechCrunch earlier this month that the company was close to "large equity round."

London-based Revolut offers a pre-paid international currency card, initially offering zero-fee, zero-commission foreign exchange. Cash is pre-loaded to the card through an app.

The big round and chunky valuation are eye-catching for a number of reasons. Revolut has only just celebrated its second birthday and it's unusual for a company to get such a huge cash injection at this early stage.

The firm's accounts also raise eyebrows. I reported earlier this week that Revolut's first year of full accounts show it lost £7.1 million on £2.3 million of revenue. It's not unusual for an early stage company to lose money. But what is unsual here is that the losses were down to "cost of sales," which were £7.8 million.

"Cost of sales" measures how much it costs for a company to provide the service or products it is selling, before any other incidental and operating expenses are taken into account. It is the most basic, fundamental measure of whether a business mankes money or not. A fintech entrepreneur chatting to me at the Money2020 conference in Copenhagen this week said it looked like Revolut is "spending $1.00 to earn 50¢."

Investors don't look at it that way. What attracts venture capitalists is Revolut's rapid growth. Storonsky told BI this week that it is on track to have 1 million customers by the end of 2017. Not bad for two years' work.

VCs argue that it is more important to pull in customers in the early days and worry about making money later — even in a fintech business.

Index Ventures made a similar bet on international money transfer business TransferWise when it was unprofitable but growing fast. Index partner Jan Hammer told BI in 2015: "In terms of profitability, it’s a very well-known phenomenon in online and mobile industries that if you want to get true scale, you invest for growth." (TransferWise is still unprofitable but growing fast, but says it will make an operating profit this year.)

App & Revolut Card"Growth is the new profitability," another fintech insider told me at Money2020. But a consultant at the conference questioned how many active users Revolut has. Close to 1 million people may have opened accounts but how many are actually regularly using them?

The financial accounts also suggest that Revolut's growth is being fuelled by an inbuilt subsidy in the product — spending $1.00 to earn 50¢.

This is not necessarily unusual. Startup bank Monzo loses around £40 per customer per year on its pre-paid cards and blamed a bigger than expected loss on the fact that more people signed up for its cards than it had projected.

But the big unknown is will customers stick around once the freebies disappear?

Revolut is now testing this theory. It added "fair usage" caps on its foreign exchange transfer, with people having to pay a fee if they transfer more than £5,000 a month.

It is also pivoting to become a quasi-financial supermarket, rather than just FX provider. The company has "made additional effort to monetize the business model by introducing delivery fees and affiliate programmes," partnering with a bunch of other fintechs and encouraging users to do everything from invest in property to borrow money through its app.

CEO Storonsky told BI this week: "We are on track to break-even by November as we continue to optimise our costs and infrastructure, and add further lines of revenue to the product."

An extra £50 million probably won't hurt, either.

Join the conversation about this story »

NOW WATCH: JIM ROGERS: I like depressed markets like Russia, China, and Japan


          App-only bank N26 doesn't care about 'short-term profits' — it wants to build a European bank that will make rivals 'redundant'   

Number26 founders Maximilian Tayenthal and Valentin Stalf.

COPENHAGEN, Denmark — App-only startup bank N26 is one of Europe's hottest startups — and it's moving very fast.

The Berlin-headquartered bank announced on Monday that it has partnered with fellow startup Clark to offer insurance through its app.

It's one of a number of new products that N26 has launched this year, either built in-house or conceived through partnerships. Other launches include an overdraft you can apply for through your smartphone and a partnership with German investment platform Raisin.

"Right now it's about making traditional banks redundant, in that we offer a product for every financial need of our customers," cofounder and CFO Maximilian Tayenthal told Business Insider at the Money2020 conference in Copenhagen this week.

"Today, if you're a customer and you want to use a savings product you still have an excuse to use something other than N26. In the next 6 months, we want to bring one product and what we see as the best product in every category."

They have already made good progress, Tayenthal says: "Right now if you want to do a cross-border currency transfer, you can do this with TransferWise over N26. For investment, we're partnering with Raisin. For insurance, we're partnering with Clark. For us, we really want to disrupt banking by launching products that cover every aspect of financial services."

Ultimately, N26 aims to become "the leading pan-European for 18-to-35-year-olds." It is already well on its way. Tayenthal founded the company with Valentin Stalf in 2013 and four years later it has close to half a million customers across 17 European countries. It is a fully licensed bank with its own core banking platform.

This momentum has attracted significant attention. Hong Kong billionaire Li Ka-Shing led a $40 million funding round into the startup last year — "He likes to do investments that are disruptive to industries," Tayenthal says — and CNBC named N26 as one of Europe's 50 hottest startups this year.

N26 insurance android iphoneHowever, there are detractors. Some are skeptical that N26 can make the economics work — to make the product marketplace model they envision profitable the company would need a huge, highly-active customer base.

ING's head of fintech Benoit Legrand told Business Insider last year: "Frankly, if you look at the neobank [as app-only banks are known] space — they’re flourishing everywhere but we’re still waiting for the business model to show up. Where is the money? Where is the return?"

Tayenthal says: "We used to get people saying you don't have a business model. It's not true. We always had a clear monetization strategy.

He adds: "What is true is that no one at N26 has a single monetary KPI in the first year after our launch. We were working on our customer base, on the branding, on launching products, building up the team. We didn't work on short-term monetization. We want to be an app that customers open once a day.

N26 is "not focused on short-term profits," he says. For now, it's all growth, growth, growth.

"We have positive unit economics which is cool, so every customer we add to the platform is making the business less negative," Tayenthal says. "When it comes to our revenue model, one has to understand that we operate at a very low cost. We acquire customers at a much lower cost. Secondly, we have much lower overheads. We have lower IT costs, everything is automated. We don't have branches."

N26 is working on building more credit products and also has plans to expand its current product range across all the markets it is in. There are no immediate plans to get into business banking space but "in the long run we will launch a product there as well," Tayenthal says.

One notable market where N26 is absent is the UK. The Times reported in April that N26 was set to launch in Britain by the end of the year, but Tayenthal is coy.

He says: "It's a really interesting market and we are thoroughly looking at it," before adding: "I don't want to commit to any timeline."

Join the conversation about this story »

NOW WATCH: HENRY BLODGET: This chart explains everything that's wrong with the economy today


          White paper examines disclosure rollbacks, virtual currencies and other securities filings hot topics   
The Trump Administration’s desire to deregulate the financial services industry has already resulted in the disapproval of the resource extraction issuers rule and a call for new SEC guidance on conflict minerals disclosure. Wolters Kluwer senior writers Jay Fishman, J.D. and Mark S. Nelson, J.D. have prepared a white paper that examines the moves the Trump Administration and the SEC have already made in 2017 to alter public company disclosure obligations. The white paper also takes a wider view of issues affecting securities filings, including how the SEC is addressing fintech and what it is doing about its aging cybersecurity guidance. States too have taken up cybersecurity, including Colorado, which recently adopted rules that emphasize the security of confidential personal information. The authors look at emerging issues with virtual currencies and discuss the potential impact on capital formation of new Rule 147A and amendments to Regulation A and Rule 147.

To view the full article, please click here.
          SEC chairman calls for updated assessment of the fiduciary rule   
By Jacquelyn Lumb

SEC Chairman Jay Clayton has called for an updated assessment of the current regulatory framework governing investment advisers and broker-dealers to aid in the Commission’s consideration of potential regulatory action. The Department of Labor’s fiduciary rule takes effect this week. DOL plans to issue a request for information with respect to various aspects of the rule and Secretary Alexander Acosta has called for a constructive dialogue with the SEC about the standards of conduct applicable to investment advisers and broker-dealers when they provide investment advice to retail investors. Clayton said he welcomes that invitation since the rule could significantly impact retail investors and entities regulated by the SEC.

When areas are overseen by more than one regulator, Clayton said that clarity, consistency, and coordination are key elements for effective oversight and regulation. He mentioned the reviews of investment adviser and broker-dealer regulations that have been conducted over the years, including the RAND study in 2006, a Dodd-Frank Act staff study in 2010-2011, and the SEC’s request for data and other information in 2013. These efforts reflect the complexity of the matter and the rapidly changing markets, he noted, including the evolving manner in which investment advice is delivered.

Range of options. The SEC has received recommendations on a wide range of potential actions, Clayton added, including maintaining the current regulatory structure, requiring enhanced disclosure to address investor confusion, developing a best interests standard of conduct for broker-dealers, and adopting a single standard to harmonize the regulations for investment advisers and broker-dealers when they provide advice to retail investors.

Since the SEC last solicited information from the public, Clayton said the marketplace has seen significant developments including financial innovations, changes to investment adviser and broker-dealer business models, and regulatory developments, including the issuance of DOL’s fiduciary rule. These developments call for an updated assessment, in his view.

Solicitation of comments. The SEC has set up a web form and an email box so that members of the public can submit comments on potential future actions. Clayton provided a series of questions that the public may wish to address, including whether investor confusion has been addressed with respect to the type of profession or firm that is providing investment advice, and the standards of conduct that apply to them. If the confusion remains, he asked what steps the SEC can take to mitigate it.

Conflicts of interest. The SEC is also seeking comments on whether potential conflicts of interest have been addressed, or whether retail investors are being harmed by conflicts through systematically lower net returns or greater risks in their portfolios compared to other investors in different relationships.

Technology. Advances in technology may transform the way in which retail investors receive advice, such as the use of robo-advisers and fintech. The SEC is asking for input on how retail investors perceive the duties that apply when investment advice is provided in new ways or by new market entrants and whether the SEC should address a lack of information in these areas.

The SEC is also seeking information with respect to any trends toward a fee-based advisory model for retail investors and whether any observed trends are driven by demand, fee-based income streams, regulations, or other factors.

Different standards. Clayton noted that efforts to comply with DOL’s fiduciary rule are already underway and asked for information about its implementation. Once the rule takes effect, there will be different standards of conduct for accounts subject to the DOL’s rules and those that are not. The SEC is requesting information about the costs and benefits of complying with multiple standards.

If new requirements are adopted, the SEC is asking for views on whether private remedies should be available for violations and the venues in which such claims should be brought. Another line of inquiry is how U.S. regulations compare to approaches in other jurisdictions and whether those approaches should be considered.
          FintechUnion appoints David Mackereth as General Manager   
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          Bravocapital   
Percents: Bravo Seed 50% 1.67% DAILY FOR 30 DAYS PrincipalBack Minimum$10 Maximum$500 500% AFTER 98 DAYS Principalincluded Minimum$500 Maximum$2000
BravoCapital is forex trading investment company . BravoCapital is constantly expanding the geography of its activities thanks to excellent marketing strategy and break even trading. The company combines several successful profitable business directions, from the multi-currency trading in the Forex market to trading activity on the stock exchange, Cryptocurrency market and investments in promising Fintech start-ups.
          ICO: fintech megoldás a kockázati tőkebefektetők megkerülésére   

Kisbefektetők százai adják össze a startupok fejlesztéséhez szükséges tőkét. Cserébe olyan kriptopénzes tokent kapnak, amiről egyelőre nem lehet tudni mit ér.

ICO: fintech megoldás a kockázati tőkebefektetők megkerülésére | FinTechRadar.


          Senior Java Engineer - SaaS, RESTful APIs, Linux   
MA-Wellesley, We are a FinTech company in the greater Boston area that is focused on changing transforming ourselves and our industry. We are currently looking for a talented Senior Java Engineer to help us create next generation solutions that are focused around new and emerging technologies . What You Will Be Doing - Design and develop scalable, back-end, data services using SaaS based technology - Create sta
          JavaScript Engineer - SaaS, RESTful APIs, Linux   
MA-Wellesley, We are a FinTech company in the greater Boston area that is focused on changing transforming ourselves and our industry. We are currently looking for a talented JavaScript Engineer to help us create next generation solutions that are focused around new and emerging technologies . What You Will Be Doing - Design and develop scalable, back-end, data services using SaaS based technology - Create stan
          A chance to showcase African innovation: Mastercard extends Start Path Applications   
Fintech
Mastercard Start Path programme is making the call for additional applications from qualifying late-stage start-ups – marking an opportunity for the fast-growing pool of African fintech talent to benefit from the mentorship and knowledge-sharing that Start Path offers. The initiative is open to fintech and tech start-ups from Africa and across the world who are shaping [&hellip
          Fiserv Targets Beginning Investors with Educational Robo   
The fintech company is hoping its partnership with GoldBean will help advisors engage millennials and first-time investors.
          A CFA Test in a Fintech World?   
What the CFA test would look like in the land of robos, report shows how blockchain can revolutionize client onboarding, and HoyleCohen merges with Libbie Agran.
          Le moment est-il venu de liquider l'argent liquide ? Une étude FinTech sur plusieurs pays a révél...   
Cette étude révèle aussi qu'Israël est le plus précurseur puisque c'est là qu'on utilise le plus les applis bancaires mobiles (50%) et les porte-monnaie mobiles (27%). SAN FRANCISCO et COPENHAGUE – 28 JUIN 2017 – Selon le rapport 2016 de KPMG « Pulse
          Největší hrozbou pro banky bude, až se do finančních služeb pustí Google a Facebook, tvrdí expert   
Vztah mezi finančně-technologickými start-upy a bankami nemusí být nutně konfliktní, tvrdí Edwin Van der Ouderaa, globální šéf pro digitální finanční služby ve společnosti Accenture. Manažer a bývalý startupista vidí hrozbu pro tradiční banky spíše v tom, že se do finančních služeb pustí velké technologické společnosti jako Amazon, Alibaba a další. V Praze navštívil Van der Ouderaa setkání Economia Fintech Leaders Club, které pořádají Hospodářské noviny ve spolupráci s Accenture.
          เตรียมใช้งาน Blockchain ในไทย ธปท. รับอีกสามบริษัททดสอบระบบ: โอนเงินข้ามประเทศ, ยืนยันตัวตนด้วยม่านตา   

ธนาคารแห่งประเทศไทยประกาศรับอีกสามบริษัทเข้าทดสอบนวัตกรรมทางการเงิน (regulatory sandbox) โดยมีสองบริษัทเป็นผู้ให้บริการโอนเงินระหว่างประเทศด้วยเทคโนโลยี blockchain ทั้งการโอนภาคธุรกิจและการโอนเงินระหว่างเอกชน

อีกหนึ่งที่ได้รับอนุญาตพร้อมกับคือการยืนยันตัวตนด้วยม่านตาแทนที่การใช้ชื่อผู้ใช้และรหัสผ่าน

ตอนนี้มีบริษัทร่วมโครงการ regulatory sandbox แล้วสี่บริษัท โดยบริษัทแรกที่ได้เข้าโครงการไปเมื่อเดือนพฤษภาคมที่ผ่านมาคือ KBTG ของธนาคารกสิกรไทย

ที่มา - ธนาคารแห่งประเทศไทย


          Columbia Business School’s 6th Annual Digital Finance Summit on Fintech, Mobile Payments, and Blockchain   
Tuesday, May 30, 2017 - 10:00

NEW YORK— Columbia Business School’s 6th Annual Digital Finance Summit on June 8 and 9 will provide an opportunity to engage with and hear from over 70 experts in fintech, mobile payments, blockchain, investing, regulation, and startups.

Organized by the Columbia Institute for Tele-Information (CITI), the two-day summit will examine disruptive effects and implementation of mobile payments, digital financial services, and cryptocurrencies in emerging and developed markets.

Speakers will include:


          Singapore and Denmark sign fintech pact   
The Monetary Authority of Singapore (MAS) and the Danish Financial Supervisory Authority (Danish FSA...
          How Fintechs Can Build Efficient Solutions for Intra-African Remittance   
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          Comentario en ¿Qué es y cómo funciona el “fintech”? DicZionario por Roser Regolf   
Excelente artículo, felicidades. Buscando un poco más sobre Fintech he encontrado este post sobre las principales claves del Fintech en España: http://www.captio.net/blog/las-8-claves-del-fintech-espana Creo que podría ser de vuestro interés, Un saludo
           银监会详解校园贷新规 允许银行与Fintech合作展业    
  来源:光明网   6月28日,中国银监会、教育部、人力资源社会保障部联合印发《关于进一步加强校园贷规范管理工作的通知》(以下简称《通知》),并召开媒体沟通会就该文件进行解读。会议明确,现阶段暂停网贷平台进入校园贷,同时鼓励正规机构服务大学生信贷需求,以电商为代表....
          Cedar Recruitment Limited: Finance Systems Manager   
£400 - £500 per day: Cedar Recruitment Limited: A global FinTech business are looking to appoint a Netsuite Finance Systems Manager on an interim basis to focus enhancing their processes & systems across the business. Experience required:Netsuite experience is a must.Significant track record working as England, London
          Cedar Recruitment Limited: Netsuite Systems Manager   
£60000 - £70000 per annum: Cedar Recruitment Limited: A global FinTech business are looking to appoint a Netsuite Finance Systems Manager on an interim basis to focus enhancing their processes & systems across the business. Experience required:Netsuite experience is a must.Significant track record working as England, London
          Senior Security Engineer ( Ruby/AWS/ CISSP/!Remote Days!)   
Sunnyvale, If you are a Senior Security Engineer ( Ruby on Rails/AWS/ CISSP) with experience, please read on! We are a Silicon Valley fintech company in growth mode and looking to add a security engineer to our team. You will have significant interaction with the CISO, SVP of Engineering, and Compliance team, as well as our great corps of developers, QA, and netadmins. You will be reporting to the CISO. You
          FintechUnion appoints David Mackereth as General Manager   
TORONTO, June 29, 2017 (GLOBE NEWSWIRE) — SelectCore Ltd. (“SelectCore” or the “Company”) (TSXV:SCG). Pursuant to the Definitive JV signed between First Global Data and SelectCore and the subsequent formation of FintechUnion, we are pleased to confirm the appointment of David Mackereth to the position of General Manager. David’s role will encompass all aspects of business development as it relates to various forms of FINTECH such as a prepaid card and a mobile wallet that enables a full spectrum of payments in addition to both domestic and cross border remittances. Revenues and associated expenses will be shared between the two […]
          Scrum Master/Project Manager   
Scrum Master, Project Manager, Agile, Java, Oracle, Fintech, Permanent, BirminghamWe are looking for an experienced Project Manager/Scrum Master who can deliver key projects with our extensive roadmap. The Project Manager will be responsible for ensuring that the teams of business analysts, developer and QA. The projects will de..
          Comment on Hukum duit digital Bitcoin halal atau haram by Anuarku   
Ramai yang takut mencuba, malah ada yang menunggu dan lihat. Sama seperti tahun 1990an ketika anda semua pertama kali daftar dan guna email. Ketika itu tiada siapa yang tahu dan mahi gunakan email. Hari ini email telah menjadi salah satu medium teknologi yang wajib. Saya adalah salah seorang yang terlibat secara lansung dalam teknologi fintech malaysia dengan menghasilkan digital asset dan ekonomi digital berasaskan bitcoin. Nasihat saya kepada kalian semua, adalah haram menyertai Bitcoin yang berasaskan tanda-tanda Multilevel/MLM skim. Tapi manusia kini apa dia peduli, yang penting ketamakan duit, lebih-lebih lagi jika interest tinggi. Tamak!! Orang tamak pasti rugi didunia dan akhirat.
          FinTech cross-border payments platform opens London office in Brexit opportunity   
Global payment provider Payoneer has built a reputation as an innovative cross-border payments platform. The explosive growth of FinTech and a traditional industry that has been slow to adapt is creating more opportunities than challenges for agile startups. As the digital transformation gathers pace, the online payments company is attempting to pave the way towards a borderless digital world. Household names such as Airbnb, Amazon, Getty Images, Google, and UpWork have come to rely on Payoneer’s mass payout services. Although an expansion was inevitable, a few eyebrows were raised upon the announcement of a new London office to increase support…

This story continues at The Next Web Reported by The Next Web 3 hours ago.
          Payscape to Sponsor NIKE Coach of the Year Clinic   

Fintech company exhibits at Nike event in Atlanta

(PRWeb January 22, 2017)

Read the full story at http://www.prweb.com/releases/2017/01/prweb14000949.htm


          3rd Annual SkiTech to be Held in Big Sky, Montana   

A one-of-a-kind skiing and networking event for FinTech leaders across the US

(PRWeb January 14, 2017)

Read the full story at http://www.prweb.com/releases/2017/01/prweb13979024.htm


          Payscape Preps for CCCA Conference in Nashville   

FinTech company Payscape to attend Christian Camp and Conference Association Conference in late November.

(PRWeb November 16, 2016)

Read the full story at http://www.prweb.com/releases/2016/11/prweb13849145.htm


          Inc. 500 Company Announces Newest District Office: St. Louis, MO   

Atlanta-based FinTech company, Payscape, opens newest district office in St. Louis and is currently hiring.

(PRWeb April 12, 2016)

Read the full story at http://www.prweb.com/releases/2016/04/prweb13331413.htm


          SkiTech 2016 Successfully Wraps   

An exclusive ski week for FinTech leaders across the US

(PRWeb February 17, 2016)

Read the full story at http://www.prweb.com/releases/2016/02/prweb13219489.htm


          Nat Sakimura: Open Data in Finance @ London は6月15日!   

FinTechの3本柱の1つとして注目されるAPIですが、特に欧州ではPayment Service Directive 2で銀行が2017年末までに金融API提供を義務付けられたことに伴い、とてもホットな話題になっています。日本ではまだまだブロックチェインの後塵を配していますが、まだまだリサーチ・プロジェクトと言っても良いブロックチェインに比べて、金融APIは喫緊の課題です。

こうした中で、金融APIをメインに取り扱う、「Open Data in Finance」というカンファレンスが、欧州金融の中心地・ロンドンで6月14日、15日の2日間にわたって行われます。6月14日はワークショップで、メインのカンファレンスは6月15日です。到底力不足ながら、不詳、わたくし、Nat Sakimura が、カンファレンスを通じたChair を拝命しております。

Screen Shot 2016-05-25 at 23.03.32

プログラムは、こちらのページ(Agenda)からご覧いただけますが、The Open Banking Standard のステアリング・コミッティのチェアの Open Data Institute の CEO の Gavin Starks とバークレイズ銀行のManaging DirectorのMatt Hammerstein の Armchair Chatに始まり、多くの有識者たちによるパネル・ディスカッションやラウンドテーブルを聞くことができ、欧州における金融APIの「今」を知るための貴重な機会となろうかと思います。

6月15日にロンドンにお立ち寄りの折には、ぜひお寄りください。

それでは、ロンドンでお会いしましょう。

Copyright © 2016 @_Nat Zone All Rights Reserved.


          Nat Sakimura: CISでのOpenID Trackは6月7日火曜日   

昨年までは、CISでのOpenID Trackは、Pre-conference day でしたが、今年は 『Achieving Internet Scale Identity with OpenID Connect』と題して、main conferenceに取り込まれました。

トラック・コーディネーターはDon Thibeauです。
今年は、わたしは金融API WGの紹介をします。

Achieving Internet Scale Identity with OpenID Connect

Tuesday, June 7.
  • OpenID Connect – Certification and Futures
    9:30 AM – 9:55 AM   |   SPEAKER:   Michael Jones
  • The Mobile OpenID Connect Profile
    10:05 AM – 10:30 AM   |   SPEAKER:   Bjorn Hjelm 
  • Account Chooser
    10:40 AM – 11:05 AM   |   SPEAKER:   Pamela Dingle
  •  The Mission Critical, First Responder Profile of OpenID Connect to Serve & Protect
    2:30 PM – 2:55 PM   |   SPEAKER:   Adam LewisFintech
  • OpenID Connect: Introducing FAPI WG
    3:40 PM – 4:05 PM   |   SPEAKER:   Nat Sakimura
  • Protecting Users and Infrastructure: Can We Create a Sharing Economy of Security Signals?
    4:20 PM – 4:45 PM   |   SPEAKER:   Andrew Nash ,   Alexander Weinert ,   Adam Dawes ,   Richard Struse
  • Protecting Users and Infrastructure (Continued)
    4:55 PM – 5:20 PM   |   SPEAKER:   Andrew Nash ,   Alexander Weinert ,   Adam Dawes ,   Richard Struse

Copyright © 2016 @_Nat Zone All Rights Reserved.


          OpenID.net: Announcing the Financial API (FAPI) Working Group   

In many cases, Fintech services such as aggregation services uses screen scraping and stores user passwords. This model is both brittle and insecure. To cope with the brittleness, the new OpenID Foundation Work Group invites developers, architects and technologists to contribute to an open standard approach using an API model with structured data and to cope with insecurity, it should utilize a token model such as OAuth [RFC6749, RFC6750].

The OpenID Foundation Financial API (FAPI) Working Group aims to rectify the situation by developing a REST/JSON model protected by OAuth. Specifically, the FAPI Working Group aims to provide JSON data schemas, security and privacy recommendations and protocols to:

  • enable applications to utilize the data stored in the financial account,
  • enable applications to interact with the financial account, and
  • enable users to control the security and privacy settings.

Both commercial and investment banking account as well as insurance, and credit card accounts are to be considered.

The FAPI Working Group is building a Fintech bridge through open standards. This effort builds on the wide international adoption of OpenID Connect.

The FAPI Working Group was proposed by Nat Sakimura (NRI), Tony Nadalin (Microsoft), and Cindy Barker (Intuit). A charter will be approved and a chair selected at the first FAPI Working Group meeting.

The FAPI Working Group chairs will be presenting on the focus of the group at upcoming conferences including the 2016 Cloud Identity Summit in New Orleans and the Open Data Finance conference in London, both in June.

The Open Data in Finance conference is an end-user driven event that focuses exclusively on open data and data sharing in the finance sector.

It will bring together influential representatives at the nexus of the open data initiative, to give insights into the plans of government and key industry players, and share how they are shaping and responding to this market change.

The Open Data in Finance organizers have offered OpenID Foundation members a 20% discount to attend. Please contact me directly if interested.

Links of interest:

OIDF FAPI Working Group Page

Subscribe to the FAPI Working Group Mailing List

Those interested in participating will need to submit a signed IPR Agreement indicating their participation in the FAPI WG. The IPR agreement can be submitted online via DocuSign or emailed to help@oidf.org.


          Nat Sakimura: 本日19時~:セミナー「ブロックチェーンは本当に利用価値があるのか?」ーリアルなFintechを語ろう   

以前もtwitterなどでは告知していましたが、OpenID BizDay #9 として、「ブロックチェーンは本当に利用価値があるのか?」と題してセミナーをやります。御茶ノ水のソラシティで19時からです。

講師は、「FinTech革命」[1]のブロックチェーン解説などでお馴染みの、近畿大学教授・山崎重一郎氏、このセミナーのために今朝緊急帰国され、エクストリーム登壇[2]される、世界初のBlockchain専門の学術ジャーナル「Ledger」誌のエディタ・松尾真一郎氏、そしてOpenIDファウンデーション・ジャパン代表理事の楠正憲氏のお三方という超豪華陣容。わたくしは、素人代表として僭越ながらモデレータを務めさせていただきます[3]

構成は、まず山崎先生からブロックチェーンについて、Fintech的な観点から解説していただいてレベル合わせをし、その後松尾先生にブロックチェーンの暗号研究者から見た課題と応用の方向性について、アメリカでの最新の情報を交えて語っていただき、パネル討議に入ります。APIの話も出るかもしれませんね。

モデレータながら、今からワクワクしています。珍しいですよ、そういうの。

チケットはPetexから購入可能です。週末売り切れていたんですが、席を増やしてもらって販売再開です!

peatex-bizday9

それではみなさん、御茶ノ水でお会いしましょう!

Copyright © 2016 @_Nat Zone All Rights Reserved.


          Nat Sakimura: OpenID Summit Tokyo 2015 発表募集開始   

OID-S2015_Banner_Holizontal

来る11月10日に、東京・飯田橋でOpenID Summit Tokyo 2015が開催されます。

これの発表募集(Call for Presentation)が開始されました[1]

各発表は持ち時間20分(15分+質疑応答5分)で、みなさんよくご存知のTEDライクなプレゼンテーションが期待されています。

対象となる講演の主題は、

講演の内容は以下の領域に関する、OpenID Foundationで策定済・策定中の各種規格[2]の適用事例、適用提案、技術提案となります。

  • IoT
  • モバイル・アプリケーション
  • Fintech
  • AdTech
  • 電子政府(電子行政)
  • デジタル・アイデンティティ政策
  • エンタープライズ・アクセス管理
  • 電子商取引
  • プライバシー
  • トラストフレームワーク
  • 開発方法論

選考を行うプログラム委員会は

  • 岡部 寿男(京都大学)
  • 佐藤 周行(東京大学)
  • 山地 一禎(国立情報学研究所)
  • 下道 高志(電気通信大学)
  • 小畑 雅人(KDDI)
  • 崎村 夏彦(野村総合研究所)
  • 楠 正憲 (ヤフー・ジャパン)
  • 米谷 修 (リクルートテクノロジーズ)
  • 林 達也 (レピダム)
  • 江川 淳一(OIDF-J Enterprise Identity WG議長)
  • 真武 信和(OIDF-J 翻訳WG議長)

という、私を除き、そうそうたるメンバーです。

皆様、ふるってご応募ください。

[1] 募集要項:http://www.openid.or.jp/summit/2015/cfp.html

[2] 以下の規格が対象となる。

  • Connect
    • MODRNA (Mobile Operators’ Discovery, Registration and Authentication)
    • HEART (Health Relationship Trust)
    • RISC (Risk and Incident Sharing and Coordination)
    • AC (Account Chooser)
  • IETF OAuth WGで策定済・策定中の各種仕様
  • IETF JOSE WGで策定済の各種仕様
  • IETF ACE WGで策定中の各種仕様
  • OpenID Connect Certification

          FinTech Entrepreneur Manish Aggarwal Joins Covenant Review   

NEW YORK, June 29, 2017 /PRNewswire/ -- Covenant Review and Fulcrum Financial Data ("FFD") are pleased to announce that Manish Aggarwal has joined as Head of New Product Development.  Covenant Review is known globally as The Authority on Bond and Loan Covenants.  It began publishing r...



          Senior/ Principal Product Manager for Award Winning Fintech startup   

          Barclays bank wants to bring bitcoin “into play”   
British multinational bank Barclays has been in discussions with regulators about bringing digital currencies like bitcoin into service, CNBC reported citing the bank’s UK chief executive Ashok Vaswani. “We have been talking to a couple of fintechs [financial technology firms – Ed.] and have actually gone with the fintechs to the FCA [Britain’s Financial Conduct […]
          Mass Insight Report Predicts Massachusetts Will Be a Leader in Second Wave of FinTech Development   

          Headline News from PaymentsNews.com - June 29, 2017   
Headline News is brought to you by Glenbrook Partners. Glenbrook provides payments strategy consulting and education services to payments professionals worldwide! ON THE WEB MONEY2020 EUROPE - DAY 1 - Vocalink - "Fintech startups are an important part of Money 2020 and this year organisers have said they are putting startups at “the heart of the event”. However, it is equally evident as you walk in to the main foyer, the imposing presence of major international payment brands." MONEY2020 EUROPE - DAY 2 - Vocalink - "In short, the world is no longer about banks versus fintech, but one of...
          Silicon Limerick: Opera Site may work in concert with city’s digital ambitions   

Forget Dublin’s Silicon Docks, Limerick’s Opera Site is being pitched as a vibrant hub for future digital and fintech businesses.

The post Silicon Limerick: Opera Site may work in concert with city’s digital ambitions appeared first on Silicon Republic.


          Caixa busca negócios sociais para investir até R$ 200 mil   

Programa em parceria com a aceleradora Artemisia vai investir até 200 mil reais em startups de serviços financeiros para baixa renda


          Mass Insight Report Predicts Massachusetts Will Be a Leader in Second Wave of FinTech Development   
BOSTON, June 29, 2017 (GLOBE NEWSWIRE) — Mass Insight today published the results of its 2017 Financial Services Impact Report produced with support from PwC. The MA report predicts Massachusetts FinTech innovation will drive the state into a national role as a leader in the B2B-driven “second wave” of FinTech development. The report also identifies the local FinTech ecosystem as the growth engine for the state’s financial services sector, which saw the number of jobs jump from 174,000 in 2015 to 181,000 in 2016, and, according to the most currently available year-end data, average wages increase from $142,225 in 2014 […]
          SAPVoice: Get Paid To Lose Weight, And Other Ways Fintechs Want To Make You Healthier   
Two established players are the unpredicted stand-outs in this year’s hottest group of fintech innovators – SAP and Vitality Group.
          Is it time to transform the Voting System in India?(UPSC CSE MAINS GS 2 POLITY)   
Context
  • Can the Blockchain technology prove as a more cost-effective and technologically superior resolution for exiting voting system in India?
Key highlights

Blockchain Technology

  • Blockchain technology was first developed in 2009 by Satoshi Nakamoto.
  • Since its inception, it has been used as the basis for several cryptocurrencies from around the world, including Bitcoin and Bitshares.
  • Blockchain is a sort of distributed ledger or decentralized database that keeps records of digital transactions.
  • The ledger can record many transactions such as monetary transactions, property transfer, and even ballot storage.
  • When a digital transaction is carried out, it is grouped together in a cryptographically protected block with other transactions
  • Each transaction is recorded and stored in the ledger that is out on a public bulletin board. Every transaction adds a block to the chain of transactions and each one is assessed by every user based on algorithms agreed upon.
  • All transactions that occur on a standard Blockchain are verified and signed with cryptography to ensure security and anonymity
  • Rather than being kept in one location, a copy of the blockchain is stored on every user’s server so that a user cannot alter it without other users finding out.
Blockchain for voting
  • In blockchain voting, each transaction is similar to a vote and through the use of multiple Blockchains along with public key encryption, the voting process is thus secured while protecting the anonymity of voters.
  • The votes can then be randomized several times in the digital ballot box so that voter’s identities are not disclosed.
  • After the polls are closed, a separate blockchain application is created for the counting of votes in the digital ballot box.
Application in Indian Voting System
  • Following the EVM hackathon by various leaders in India, Blockchain may prove as an effective way to ensure transparency and undo such allegations.
  • Over 32 blockchain firms were founded in India in 2016, up from 23 founded before 2016, according to afintech report by PwC.
  • Moreover, blockchain is in various stages of implementation across the world for voting and other public services.
  • With the deep penetration of electronic devices such as cellular phones and the unique identification (Aadhaar) system, blockchain could prove as a feasible alternative to fight voter fraud and ease vote authentication concerns.
  • The Reserve Bank of India’s research arm has also advanced proof of concepts with a few banks on blockchain, and it had stated that the results were quite encouraging and were confident in the implementation capability of blockchain technology.
  • Aadhaar cards and electronic-know your customer (e-KYC) norms have already become conventional.
  • KYC is the process of a business identifying and verifying the identity of its clients, used widely by companies and banks.
 Countries implementing Blockchain technology in the voting system
  • Australia has declared its plan for using blockchain in voting and began projects for prototyping the technology a couple of years ago
  • In 2014, Denmark’s Liberal Alliance political party voted in a blockchain-based system for its internal elections. Such systems have also been adopted in Norway and Spain
  • Malta with a relatively small population of 450,000 is all set to introduce blockchain in land registry, voting and other national services.
  • In a South Korea (Gyeonggi-do), a province government, used the blockchain platform in a local funding ballot where around 9,000 votes were submitted.
Way ahead
  • More Transparency: A transparent voting system is a pre-requisite tool in order to run any democracy. It thus becomes even more important to make the system as transparent and unbiased as possible.
  • Efficient Implementation: The fact that Blockchain is relatively a new technology, a complete change in the voting system might not be a viable solution. Although Blockchain may prove beneficial if implemented on only some levels during the initial period, this would help retain much the needed transparency in the election system while simultaneously countering any (alleged) loopholes in the existing voting system.
  • Answer to all ambiguities: Keeping in mind the emergent and potential threats to the current system of voting (allegedly), it is essential to experiment with new technologies that can potentially secure the system.
 Q&A
  • The (1999) existing electronic voting machines (EVM’s) system in India needs a change, on account of recent allegations raised by many political leaders. Comment?

35 Question Came in Prelims 2017 From Xaam Prelims Test Series 2017 We ran a successful Online Test Series For UPSC Prelims 2017. We are glad to let you know that we have completed the cross checking of the Prelims 2017 Question Against Our Test Series Questions , 35 Questions Came Check here https://goo.gl/1L5DQo We are running 2018 Test Series Prepare with us for one year We provide small online tests , a lot of them, 150 this year . You can solve the tests while travelling or anytime you have 15-20 minutes . You can use your mobile , tablet or laptop to take the tests . Looking forward to have a great year with you all Join Our Test Series : http://imojo.in/Test_Series_2018

          ​Plano fintech firm acquires marketing software company for banks, credit unions   
It's the first acquisition by the company, which offers marketing analytics software and other services to banks and credit unions, since being bought by a private equity firm last year run by former Bank of America executives.

          NACHA Adds D3 Exec To API Standardization Group   
D3 Banking Chief Product Officer and Vice President of Product Ownership Christina McGeorge is the latest member of NACHA’s API Standardization Industry Group, the companies said Wednesday (June 28). Created earlier this year, the Group aims to develop an API standardization “playbook” to help FinTechs, banks, businesses and other industry players in their development and […]
          Fixed Income Business Manager- Global FinTech Firm in NYC   
NY-New York City, Fixed Income Business Manager- Global FinTech Firm in NYC Our client assists Traders in accessing liquidity and execute efficiently. They operate at the heart of the fixed income global markets providing electronic trading technology and services and offer access to multiple execution options, valuable liquidity from diverse sources and help execute transactions efficiently. The Business Manager i
          Online is nyithatunk számlát az MKB-nál   

Nem kell bemenni a bankfiókba, papírokat aláírni, mégis lesz számlánk, sőt a kártya is megjelenik azonnal a mobilappunkban.

Online is nyithatunk számlát az MKB-nál | FinTechRadar.


          FinTech Entrepreneur Manish Aggarwal Joins Covenant Review   


          ​Plano fintech firm acquires marketing software company for banks, credit unions   
It's the first acquisition by the company, which offers marketing analytics software and other services to banks and credit unions, since being bought by a private equity firm last year run by former Bank of America executives.

          BT creates innovation in financial services market   
In a move which promises to accelerate innovation throughout the world’s financial markets, BT is bringing fintech start-ups onto the BT Radianz Cloud, the world’s largest, secure networked financial community.
          Software Developer at Cellulant Nigeria   
Cellulant is Africa’s no.1 company in the payments & transfers category - Fintech Awards 2016. We are a PPISP (Payment Platform Infrastructure Service Provider) regulated by the Central Bank of Nigeria (CBN) and insured by Nigerian Deposit Insurance Corporation (NDIC).We are recruiting to fill the position below:Job Title: Software DeveloperLocation: LagosReports to: Head of Technology software Development and OperationsPeer Relationship: Technology Developers, implementation Engineers, Support Services and IT Security units Role ContextResponsible for the availability, protection and performance of all web applications & web applications servers in the Cellulant Operating EnvironmentCore ResponsibilitiesUsing mark-up languages like HTML to create user friendly web pagesMaintaining and improving websiteOptimizing applications for maximumDesign mobile - based featuresCollaborate with back end developers and web designers to improve usabilityGet feedback from and build solutions for, users and customersWrite functional requirement documents and guidesCreate quality mock-ups and prototypesHelp back-end developers with coding and troubleshootingEnsure high quality graphic standards and brand consistencyStay up to date on emerging technologiesMust comply with ISO 270001 policy standardOther Roles:Perform and assist with quality assurance activities as needed.Participate in training and coachingWeekly Report writingOther duties as assigned.Key Competencies:Decision makingTeam development & ManagementTechnical SkillsTeamworkAnalyticalProblem SolvingStrategic ThinkingQualityAdaptability 

Apply at https://ngcareers.com/job/2017-06/software-developer-at-cellulant-nigeria-587/


          PROMOTOR DE CREDITOS MEJORAVIT- IMSS - Broxel Fintech - Playa del Carmen, QRoo.   
*Innovamos con tecnología financiera para revolucionar los medios de pago, basadas en tecnología financiera, con el objetivo de crear ecosistemas financieros $7,000 al mes
De Indeed - Tue, 30 May 2017 23:18:05 GMT - Ver todos los empleos en Playa del Carmen, QRoo.
          The 30 most eligible out singles, according to dating app Hinge   

hinge lgbtq

Periodically, Hinge looks into its data for us to find the most eligible people on its dating app, which relaunched to focus more on relationships late last year.

They've taken a look at different industries, places (New York and San Francisco), and even social-media stars.

Now, for LGBT Pride Month, Hinge has pulled data on its most eligible users who are out. These are the accomplished and attractive people who have gotten the most "likes" on Hinge, as a measure of popularity, and also identify as gay, lesbian, bisexual, pansexual, or simply non-heterosexual in some fashion. (As a note, Hinge doesn't ask about gender identification.)

Here are the top 30, along with a few key facts, including what city they live in, and a link to see their profile on Hinge if you want to send a "like" their way.

SEE ALSO: These are the 30 most eligible social-media stars, according to the dating app Hinge

No. 30: Chris Stoddard

Work: Senior Producer at Carrot- A VICE Company

Education: Baruch College

Orientation: Gay

City: New York City

Here's his profile.



No. 29: Kylee Lee

Work: Black Box Network Services

Education: The Pennsylvania State University

Orientation: Bisexual

City: Washington D.C.

Here's her profile.



No. 28: Patrick McCarthy

Work: SVP, Head of B2C Marketing, Citi FinTech

Education: Georgetown

Orientation: Gay

City: New York City

Here's his profile.



See the rest of the story at Business Insider

          CB Insights Reveals the Fintech 250 List at Future of Fintech   
...private companies have raised $14B across 240 deals in 2016. • Applications of their technology include breakthroughs in insurance, lending, payments, human resources, real estate, and much more. • More than 2,000 companies were nominated or applied for the Fintech 250 (only ...


          Banca Multicanal y CaaS - ¡Descarga el Whitepaper!   

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etiquetas: banca online, banca multicanal, fintech, service design, digital, bank

» noticia original (soprasteria-caas-whitepaper.pagedemo.co)


          Bisnis Fintech: Paypal Terus Ekspansi   
Baru-baru ini, PayPal Holdings Inc. menyuntik modal bagi LendUp, yakni perusahaan financial technology (fintech) yang berbasis di San Fransisco, California, Amerika Serikat.
          Data Is Unlocking The Mortgage Tech Business And Creating A More Competitive Industry   
Missed out on the Future of Fintech conference? Sign up to download the presentation and slides. “How do we get to know a consumer and their goals as quickly as possible and then understand the property income and credit they … Continued
          The NYSE Is ‘Basically A Museum’: Robinhood’s Tenev On The Road Ahead And The Startup’s Plan To Make Money   
Missed the Future of Fintech conference? Sign up here to download the presentation and slides. Robinhood has seen a banner year in 2017, pulling in a $110 Series C that vaulted the company into the unicorn club of private companies valued … Continued
          To Win Against Incumbents, Wealth Tech Startups Focus On The ‘Bleeding Edge Of Development’   
Missed out on the Future of Fintech conference? Sign up to download the presentation and slides. There is perhaps no bigger sub-sector of finance that affects a larger cross-section of people than wealth management. As competition in the space heats … Continued
          It’s Time To Leapfrog The Old Financial Channels   
Missed out on the Future of Fintech conference? Sign up to download the presentation and slides. For fintech companies, expanding geographically poses a unique challenge, as regulations and consumer trust in financial institutions varies dramatically across countries. Alfred Lin of … Continued
          Paytm Has 200 Million Users—And Plenty Of Room To Grow, In India And Abroad   
Missed out on the Future of Fintech conference? Sign up to download the slides and presentation. Unicorn payments startup Paytm – India’s largest mobile payments company – has amassed over 200 million users since its launch in 2010. But CEO … Continued
          Regulators Want Fintech Innovation Too   
Despite their role as fintech companies’ watchdog, there is a desire among global regulators to foster innovation and partner with new startups in the fintech space, says Jeffrey Bandman, formerly of the Commodities Futures and Trading Commission (CFTC). However, he acknowledged a … Continued
          Transferwise’s Käärmann: User Experience And Speed Matter Just As Much As Fees   
Can’t make the Future of Fintech conference? Sign up to watch the livestream. High fees and bad customer experience were taken for granted in the remittance space for a long time, said Kristo Käärmann, CEO of Transferwise, who experienced the frustrations of … Continued
          Credit Karma’s Lin: The Goal Is To Make Financial Services Frictionless   
Can’t make the Future of Fintech conference? Sign up to watch the livestream. “Everyone views their underwriting model as their secret sauce,” according to Kenneth Lin, CEO and founder of Credit Karma, speaking about banks reluctance to work with the … Continued
          Banks Are Missing The Point—Alternative Lending Is About More Than User Experience   
Can’t make the Future of Fintech conference? Sign up to watch the livestream. Alternative lending platforms deliver an automated end-to-end loan experience from application and origination to underwriting and servicing. Essentially, these kinds of companies sit at the intersection of … Continued
          Palantir Co-Founder Joe Lonsdale: We Need Entirely New Systems, Not Just Band-Aids On The Old Systems   
Can’t make the Future of Fintech conference? Sign up to watch the livestream. While there has been much hand-wringing over the potential for automation and AI to displace the human workforce, Joe Lonsdale, founding partner of 8VC and a co-founder … Continued
          We're only at the foothills of fintech development   
Eileen Burbidge, HM Treasury's Special Envoy for Fintech, defines the 'fourth industrial revolution'...
          Machine Learning’s Mediocre Gains - Bloomberg   
@WillauerProsky, @SpirosMargaris, @ComfortablySmug
          Tencent Rules China. The Problem Is the Rest of the World - Bloomberg   
@AaronLucchetti, @NeckarValue, @SpirosMargaris, @larsonchristina