New #York was rocking the #fintech this #week, from Next Money and BBVA Open Talent to Finovate Fall. Tune in to Brett King and company below to hear the fintech insider perspective.
Bank Innovation
Leading members of the #Hyperledger #blockchain project are scheduled to #address ISITC next week.
CoinDesk
A venture-backed #cryptocurrency with the promise to provide truly #anonymous transactions is scheduled to launch into beta today.
CoinDesk
A retro-fitted version of same-old system? That’s what #blockchain may become if financial firms aren’t ready to be #radical.
CoinDesk
Wiener #FinTech cashpresso bietet unabhängigen Dispo – bis zu € 1.500 – direkt am Smartphone
– Kontoeröffnung komplett online, abgeschlossen in 10 #Minuten
&8211; Kreditrahmen frei verfügbar und sofort zur Auszahlung bereit
&8211; VC Fonds Speedinvest, Hansi Hansmann, Runtastic Gründer und Stefan Kalteis investieren
Banking wird immer mobiler. Auf diesen Trend setzen auch die 3 Gründer Daniel Strieder, Michael Handler und Jörg Skornschek vom Wiener FinTech Start-up Credi2. Mit cashpresso bringt das junge Unternehmen einen vom klassischen Bankkonto unabhängigen Dispo auf den Markt.
„In nur 10 Minuten ist das cashpresso Konto vollständig online eröffnet und der Kreditrahmen von € 1.500 bereit zur Auszahlung. Kunden entscheiden selbst, wann und wofür sie das Geld verwenden.“, sagt Daniel Strieder, CEO. Für deutsche und österreichische Staatsbürger ist cashpresso ab sofort zugänglich.
cashpresso Gruender &8211; Daniel Strieder, Michael Handler, Jörg Skornschek
Namhafte Partner an Bord
Mit ihrer Idee konnten die Gründer angesehene Partner für sich gewinnen. Bankpartner mit deutscher Banklizenz ist die Deutsche Handelsbank, ein Vorreiter im E-Commerce Banking. Ermöglicht wurde cashpresso durch eine € 700.000 Seed-Finanzierung von VC Fonds Speedinvest, Hansi Hansmann, den Runtastic Gründern und Stefan Kalteis. „cashpresso überzeugt durch sein starkes Team, das erfahrene Experten aus den Bereichen Online Payments, E-Commerce und Analytics vereint. Das Produkt bietet einen schnellen Disporahmen, online verfügbar zu fairen Konditionen und ergänzt unser hervorragendes FinTech Portfolio perfekt.“, so Speedinvest Partner Stefan Klestil.
Papierlose Anmeldung in 10 Minuten abgeschlossen
Das cashpresso Konto kann sowohl über die Smartphone App für Android und iOS, als auch über das Web-Portal eröffnet werden. Bei der Anmeldung sind Name, Geburtsdatum, Adresse, Nationalität, Handynummer, E-Mail-Adresse und Bankkonto anzugeben. Dank Video-Identifizierung entfällt der Weg in die Filiale. Der Kreditvertrag wird online mittels qualifizierter elektronischer Signatur unterzeichnet. „Mit cashpresso zeigen wir, dass Geld leihen auch schnell und unkompliziert sein kann.“ so Strieder.
Praktische Alternative zum Ratenkredit
Der verfügbare Rahmen kann mehrfach ausgeschöpft werden. So muss nicht für jede Anschaffung ein neuer Kredit beantragt werden. cashpresso zeichnet sich besonders durch die flexible Rückzahlung aus. Eine monatliche Mindestrückzahlung von 3% des tatsächlich ausbezahlten Betrages garantiert die Verringerung der Verbindlichkeiten und ermöglicht geringe Raten.
Kunden bestimmen selbst den Tag der monatlichen Fälligkeit und die Ratenhöhe über die Mindestrate hinaus. Änderungen an diesen Einstellungen sind jederzeit kostenlos möglich. Einmalzahlungen und die Rückzahlung des Gesamtbetrages sind ebenfalls immer und ohne Mehrkosten möglich.
Faire Kosten, transparent kommuniziert
Laufende Kosten oder verstecke Gebühren gibt es bei cashpresso nicht. Der effektive Jahreszins in Höhe von 9,99% fällt nur für ausbezahlte Beträge an. Die ersten 30 Tage sind komplett zinsfrei. Das ermöglicht eine 0% Finanzierung bei kurzfristigen Engpässen und bietet die Möglichkeit, cashpresso gratis auszuprobieren.
Gekündigt werden kann jederzeit per Knopfdruck. „Mit cashpresso bringen wir ein faires und transparentes Produkt auf den Markt. Einen Kredit zu bekommen ist langwierig und kompliziert – genau dieses alte Bild wollen wir aus den Köpfen der Menschen verdrängen.“ so die Vision des Geschäftsführers Daniel Strieder.
Featured Image: Per Smartphone-App zum Schnell-Kredit. © cashpresso
The post Ccashpresso startet: in 10 Minuten zum Dispo-Kredit appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
Ah. It was just a #summer #fling. #Amazon and #Wells #Fargo gave an unceremonious kiss-off to #their student loan hookup this week, which would give Amazon Student Prime subscribers a 0.5% discount on student loans from the San Francisco-based financial behemoth. No one knows why the pair went their separateRead More
Bank Innovation
Following the 2008 financial crisis, #traditional banks across Europe suffered heavy losses. Regulators have had to intervene to harden their financial requirements. As capital became a rare commodity, many #banks have had to restrict their lending activity or offer less attractive conditions to their borrower clients. SMEs, typically companies with less than €50m of turnover, have been most penalized. In France this year, SMEs represent a highly significant 99.8% of all companies, and 46% of GDP. Their contribution to employment is even more significant. They are widely considered as engines of growth. Whether they are in the service or industrial sectors, expanding companies need financing. Their growing success often translates in rising working capital requirements and receivables financing. Not long ago, many of these businesses would have naturally gone to their banks to fill these funding and investment needs. Today, their banks have to turn down a certain number of those credit requests.
This context has favoured the rise of alternate forms of financing. Many innovative new ventures have been created to offer non-banking financing solutions. These new players do not suffer from the banks’ capital constraints because most of them do not warehouse risks like traditional banks do. Indeed, their business model consists of connecting those in need of financing with investors or savers willing to take on these risks. A new wave of financial disintermediation has emerged.
The digital revolution has enabled this disintermediation wave. It allows new entrants to promptly and economically access vast numbers of prospective clients via the internet, bypassing traditional branch networks. Furthermore, information #technology has also allowed these new “#fintech” ventures to assess the creditworthiness of borrowers without having a historical relationship with them. By using existing market data, they are able to model credit risks at light speed and provide their clients with instant responses. On the other side, they have made the best use of the risk dispersion techniques that securitization allows.
Much is said about fintechs entirely replacing traditional banks in many areas of financial services. While there is indeed some healthy competition between the two, there are also significant cooperation opportunities. Traditional banks have large numbers of SME clients which, for many good reasons, are happy to maintain a one-stop shopping relationship with their bank. On the other hand, fintech companies have, with great effectiveness, developed niche services but do not expect to be their clients’ only financial service provider. Therefore, cooperation is an obvious next step. Let’s take the example of factoring. A traditional bank may find it advantageous to direct its customers to an alternative form of financing rather than developing its own. Such a platform can operate on an open-architecture basis, providing customized services to the clients of its bank partners. The bank may also invest in the securitization funds managed by its fintech partner.
Fintech startups do not aim at reinventing the wheel. They aspire to identify sources of efficiency and scale, and adapt them to today’s collaborative era. With regards to factoring, the new online model places the focus on customer experience, providing a faster, more accessible and cheaper form of financing. Flexibility is key and many modes of collaboration between banks and fintech are possible.
It is not surprising that an increasing number of banks are faced with the decision of whether to build their own online lending platforms in-house or whether to collaborate with the disruptive technology firms. The cooperation rationale is so compelling that a number of leading banks have already embarked in promising partnerships with fintech startups, whilst giving them space to succeed.
JP Morgan, for instance, has teamed up with OnDeck, allowing them to speed up the process of providing loans to its 4 million small-business customers at a drastically faster pace than otherwise. The alliance of JP Morgan’s relationships and lending experience with OnDeck’s technology platform enables them to offer almost real-time approvals and next-day funding. Santander has done the same whilst partnering with Funding Circle and then Kabbage.
JP Morgan and Santander are known to be well-managed and apt to seize opportunities, which further emphasizes the emergence of a trend that we can imagine will flourish. The advantages for both partners in each of these cases are clear: one provides the customers, the other provides the product and service experience whilst risks and revenues are shared. Furthermore, the collaborations enable JP Morgan and Santander to make a real breakthrough in the SME market, which has traditionally been the backyard of local and regional banks.
Similarly, the French start-up Linxo has been very attractive to banks. This company offers an app which aggregates information such as transactions and balances from several accounts to help users manage their budget. Credit Agricole, number one retail bank in France, became one of Linxo’s leading shareholders. This partnership helps supports the rapid growth of Linxo in France and initiates a new phase of international growth. On the other hand, the bank benefits highly from collaborating with Linxo, interested in the data they aggregate. Fortuneo also partnered with Linxo to offer a multi-bank account aggregation tool.
ING, the leading Dutch bank which pioneered direct banking in the 1990s, pays particular attention to technology and disruption, innovation being at the heart of their DNA. Also a shareholder of the fintech Kabbage, they have a commercial agreement to bring Kabagge’s solution to ING’s customers. Both believe that they learn by finding within each other the strength they are lacking. ING puts the emphasis on bringing brand and trust to the fintech, whilst the fintech brings the agility.
The whole fintech sector is still to realize its full potential, but it is clear that it will need coherent action from several parties to reach it. They should aim to become collaborative partners as many have already managed to achieve. It will be together that banks and fintech will revolutionize financial services.
[linkedinbadge URL=”https://www.linkedin.com/pulse/fintech-banks-collaboration-made-heaven-cedric-teissier” connections=”off” mode=”icon” liname=”Cedric Teissier“] is CoFounder and CEO at Finexkap
A millennial friend of mine recently mentioned the shift from CapEx to OpEx in the millennials as something that was likely to define new models in lots of industries.
‘The what now?’ I asked
‘No one buys anything any more,’ he said. ‘The most visible are ride-sharing apps like Uber, but it’s everywhere.’
The corporate world has been doing it for years, starting with sale and lease back, then business process outsourcing and all manner of ‘servisification’, which migrated to cloud based models for service delivery. Now the suggestion is that it’s infecting consumer models too. While home ownership rates worldwide have in general been rising, they have been in decline in the US for some time. While there are other examples of similar declines, it is too early to say whether this represents a millennial shift, or more part of the fallout from the 2008 financial crisis. In addition, the most significant declines in home ownership in the US have actually been with 35 to 44 year olds.
There remains a good degree of data on car ownership declines among millennials, and Uber’s stated objective is to eliminate private car ownership altogether. The Atlantic published a wonderful piece in 2012 about how millennials were the cheapest generation, and Time magazine labelled them lazy and entitled narcissists, but the theory doesn’t seem to be holding water – Millenials are buying more cars than ever for their age group, even in the US. Ultimately, economically, it’s better for the world that we don’t own cars. They’re parked for 95% of their lives, and as such represent an appalling waste of resources. But it’s not quite happening yet.
The #sharing economy has a lot going on besides cars and houses. Cryptocurrencies and #Blockchain have the potential to scale community currencies, which have been in operation for decades. There’s a bunch of Marxist theory attached, and certainly political concern at the notion that currency control should somehow be diluted by uppity anarchists. So there’s real potential for significant social and political change with these concepts; the reactions we’ve seen to AirBnB and Uber in relation to trades unions, licensing authorities, tax controllers and other regulators represent merely the tip of the iceberg.
So, the data doesn’t really support a death of car ownership, and the jury’s still out on whether home ownership has really been impacted by some Millennial cultural shift. But these are cultural changes on a grand scale. Those of us who have been alive for the early years of the Internet will probably not be around to see its most profound impacts on the world – but there’s still a lot going to happen in the next few decades!
[linkedinbadge URL=”https://www.linkedin.com/in/anthonybehan1″ connections=”off” mode=”icon” liname=”Anthony Behan”] is Telecommunications Industry Offering Leader, Watson IoT Division at IBM
Die beiden führenden Schweizer #Blockchain-Experten Nexussquared und Blockchain Source arbeiten im Beratungsgeschäft ab sofort eng zusammen und unterstützen sich gegenseitig bei der Durchführung von Veranstaltungen.
Mit einem gemeinsamen Beratungsangebot kombinieren die beiden Unternehmen künftig ihre einander ergänzenden Kernkompetenzen. Im Rahmen der Zusammenarbeit bringt #Nexussquared seine Erfahrung in der Organisation und Durchführung von Blockchain-Workshops für Geschäftsleitungsmitglieder ein, während Blockchain #Source seine Kompetenz als Berater bei der Entwicklung von konkreten Blockchain-Anwendungen und Prototypen zur Verfügung stellt.
Zudem werden sich die Unternehmen bei der Durchführung von Anlässen zum Thema Blockchain gegenseitig unterstützen, so zum Beispiel bei den monatlich in Zürich stattfindenden Nexussquared Drinkup-Events und Blockchain Meetup-Anlässen sowie bei internationalen Meetups und Auftritten im Rahmen von Blockchain-Konferenzen und -Fachtagungen.
Im Event-Bereich kommt die Zusammenarbeit erstmalig diesen Oktober im Rahmen des Blockchain Meetup Zürich zum Tragen. Nexussquared wird den Anlass mit dem führenden #Bitcoin-Experten Andreas Antonopoulos aus Kalifornien aktiv unterstützen und das Nexussquared-Netzwerk in diesem Monat anstatt zu einem Drinkup zu der Veranstaltung einladen.
Nexussquared-Mitgründer Daniel Gasteiger sagt über die #Partnerschaft: “Mit dieser Zusammenarbeit leisten wir einen Beitrag zur Konsolidierung der Blockchain-Aktivitäten in der Schweiz. Zudem erweitern wir mit Lucas Betschart und Tommy Back unser Netzwerk an Spezialisten. Neben Guido Rudolphi, der uns seit Beginn als technischer Berater zur Seite steht, können wir unseren Kunden ab sofort auch direkten Zugang zur Blockchain-Entwickler-Community in der Schweiz bieten.“
Blockchain Source-Mitgründer Lucas Betschart sagt: &8220;Dank der Partnerschaft mit Nexussquared können wir künftig ein komplettes Paket anbieten: Von der ersten Einführung in die Möglichkeiten von Blockchain bis hin zur fertigen Anwendung. Daniel Gasteigers langjährige Erfahrung im Finanzbereich und sein Gespür für mögliche Blockchain-Anwendungsgebiete ergänzt unsere Kompetenz bei der Umsetzung von auf Blockchain basierenden Prototypen und Produkten perfekt.”
Featured image: Zürich Switzerland, via Wikicommon.
The post Nexussquared und Blockchain Source starten strategische Partnerschaft in der Blockchainberatung appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
For #fintech, millennial consumers are–let’s go with challenging&8211;according to the huge quantities of rigorous data collected on them. That might be for three main reasons: They don’t trust #banks or credit lenders (at all), it’s hard to predict what they’ll like in a financial service provider — and what they’llRead More
Bank Innovation
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