Mapping fintech investments in Europe (and the Middle East)
Financial News this week published a special issue of its fintech magazine, Fintech News, assessing the opportunities and challenges facing the industry in eight different cities this side of the Atlantic.
From Stockholm to Tel Aviv, we looked at what makes each fintech ecosystem unique and what can be done to improve them.
FinTech Incubators Inflation and Courage
My journey with mentoring started when I helped organise and mentor a local cohort for new businesses within the IT services space many many years ago. Not one of those 20 companies remains today. I found it sad and haven’t gotten involved again.
The Banking Sector Has Not Yet Felt the Full Disruptive Force of Technology, but It Will
The Wall Street Journal reports that Wall Street is exploring innovative applications of digital currencies to mainstream banking and financial issues. The recent wave of Wall Street interest in Bitcoin technology is inspired by a growing appreciation of the inevitability of radical changes in the financial industry, which is long overdue for the kind of Internet-driven cost savings that have affected other industries.
Great Financial Services Companies Deliver Products, Not Projects
Blame Apple: customers expect to be delighted. By placing consumer delight at the center of its growth strategy, it has set new standards for customer engagement.
Today’s customer expects nothing less from their financial management experience. Wealthfront and Betterment are new disruptive forces in the wealth management space. They offer carefully curated, personalized experiences for the next generation of investors.
Is Digital Even More of a Priority than Regulation?
Innotribe explores the startup trends set to have an impact on financial services
Go to any financial services event these days and there is a very good chance that "financial innovation" has found its way onto the programme or even bagged the keynote spot. Indeed, from the water cooler to the boardroom, it is one of those topics of increasing influence.
9 Ways to Revolutionize Experiences in Financial Services
Corporate and retail banks are facing competition from innovative business models and new competitors. Historically, banks have innovated slower than other businesses, however additional pressure is now being added by shrinking margins and tighter regulatory requirements. Innovation is the key to growth and competitive differentiation. The banks most likely to survive are those that are willing to effectively develop new products, services, and channels in response to the changing market environment.
Iceland Looks at Ending Boom and Bust with Radical Money Plan
Iceland's government is considering a revolutionary monetary proposal - removing the power of commercial banks to create money and handing it to the central bank. The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Iceland".
UBS to Open Blockchain Research Lab in London
Swiss banking giant UBS is to open a technology lab in London to explore how blockchain technology can be used in financial services.
The lab, set to open this month and occupy a dozen desks at Canary Wharf-based fintech accelerator space Level39 – a hub in London for financial technology startups– will bring together technology experts from the bank and the wider fintech community, UBS said.
Acorns, an App That Turns Spare Change into Investments, Raises $10.5M
Acorns disclosed the new round in a filing with the SEC, but it did not respond to VentureBeat’s requests for comment on the matter.
It’s not clear how Acorns, which is only available in the U.S., actually intends to spend its $10 million and change. We do know, however, that Acorns has a web app and international support in the works and additional capital could help it expand.
Snapdeal Acquires RupeePower, Will Add Loans, Other Financing To Its Marketplace
India’s Snapdeal has been on an acquisition spree in the last several months, tapping into the $1.1 billion it has raised from the likes of Softbank to expand from being a marketplace for goods into a platform for all kinds of online transactions. The latest chapter in this story is today’s news that it has acquired a majority stake in RupeePower, a provider of loans and credit cards.