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  • user 3:35 pm on June 7, 2016 Permalink | Reply
    Tags: Competitions, , , , , ,   

    7 Upcoming Fintech Startup Pitch Competitions in Europe 

    Do you operate a #startup that is tackling the financial services industry? Is your startup looking to disrupt the finance and banking sector? Are you looking to connect with the industry’s key players, decision makers and investors, and grow your venture to the next level?

    Well, you may want to consider attending these seven #upcoming #fintech startup #pitch #competitions in #Europe and get the boost you need to grow your business:

     

    Startupbootcamp FastTracks

    June 20, 2016, in Zurich

    startupbootcamp fintech london fasttracks zurich 2016

    Startupbootcamp Fintech is an accelerator program operating around the world. Its Startupbootcamp FastTracks are informal events that are used as part of the screening process aimed at selecting the top 10 cutting edge fintech startups that will get the chance to present their ventures and eventually get the opportunity to apply for the three-month accelerator program in London.

    Startupbootcamp Fintech is looking for startups all areas of fintech including payments, cryptocurrencies, financial inclusion, asset management, capital markets, peer-to-peer, platforms, security and authentication, insurance, and lending.

     

    EIT Digital Challenge

    EIT Digital Challenge Europe 2016

    The EIT Digital Challenge is aimed at fast-growing European #technology startups that are offering digital tech applied to industry, cities, wellbeing, infrastructure and finance.

    The 15 most innovative European startups in these fields will be selected to compete to win up to €50,000 in cash, access to EIT Digital’s pan-European innovation network, as well as the chance to join the EIT Digital Accelerator for a full year, and eventually get support to find international customers and raise Series A financing to scale up.

    The submission phase is open until July 15, 2016.

     

    Startup Pitch Competition &8211; Pirate Summit 2016

    September 06, 2016, in Cologne, Germany

    pirate summit 2016

    In its sixth year, the Pirate Summit is one of Europe’s biggest invitation-only gatherings of early-stage startups and investors. The Pirate Summit aims at celebrating entrepreneurship by being a platform where founders, investors and entrepreneurs can meet and connect.

    This year, the event will take place at Odonien, in Cologne and is expected to bring some 1,200 participants.

    The Pirate Summit will also be organizing a startup competition. The selected startups will receive two free-tickets to the Pirate Summit for the founding team members and a guaranteed pitching slot at the semi-finals of the “Walk the Plank” pitch competition at the first day of the Pirate Summit.

     

    Elevator Pitch &8211; ICT, Nano, Clean, Fintech

    October 08, 2016, in Zurich

    elevator pitch zurich 2016

    Swiss Startup Invest and Swiss Start Up Factory will be running the Elevator Pitch competition on October 08, 2016. The best candidates will get the change to pitch their businesses during the Swiss Startup Day event on October 25, 2016.

    Registration opens on August 01, 2016, and will run until September 20, 2016.

     

    BBVA Open Talent Competition 2016

    BBVA Open Competition 2016

    The BBVA Open Talent Competition is back with its 8th edition aimed at providing support to and collaborating with promising startups tackling financial technology and other projects affecting the industry such as Big Data, cybersecurity, and APIs.

    The winners will receive €30.000 each in cash prize, enjoy a two-week program in Mexico City and Madrid, and get the opportunity to get to know and engage with the entrepreneurial ecosystem and BBVA executives with the goal of making their business grow.

    Participants need to register their projects before June 27, 2016 to get a chance to be one of the finalists in Europe, Latin America and USA, and the rest of the world.

     

    IN3 Events

    Global Expansion Summit In3 20176

    Under the banner IN3 (Innovation-Investment-International), Global Expansion Summit offers a series of events, workshops and networking opportunities to facilitate the creation of innovation hot spots in new markets around the world, allow for startups, governments and corporates to connect, foster corporate and government innovation and digital transformation, and promote collaboration between innovation hubs across the world.

    This year, Global Expanson Summit will run three startup competitions during its annual event on October 17 and 18, 2016, in London:

    As a visitor you can register for the the whole event with Code &8220;FINTECHNEWS&8221; and get 20% discount.

    Start Me Up Abroad

    October 17, 2016

    14:15 – 15:30

    Start Me Up Abroad is aimed at early stage startups looking to kickstart their business abroad. This is a dedicated platform for pre-funding startups to pitch to a panel of investors and accelerators from some of the most sought after startup city hubs and then take 5 minutes’ worth of questions from the panel.

    The Bakery Live!

    October 17, 2016

    16:00 – 17:15

    The Bakery Live will focus on providing a new way to get innovation done with a low cost and low risk model. A large corporate brand will present a brief/challenge facing their business. The Bakery will select six startups from a large number of applications for the brief. These six startups then have three minutes to pitch their idea to the corporate client. The two finalists will be brought back for a final round and deeper Q&A. The corporate client speaker will choose the winner for a trial with the help of the audience.

     

    Featured image: A businessman on a track ready to run by Stokkete, via Shutterstock.com.

    The post 7 Upcoming Fintech Startup Pitch Competitions in Europe appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 12:18 pm on June 7, 2016 Permalink | Reply
    Tags: , , , , , KoreConx,   

    KoreConx: a global re-bundling Fintech case 

    Crowdfunding is real. Whether it is equity or debt platforms, the trend is very much alive with regional variations and adapting regulations. A real #global market opportunity The simple explanation is “Capital continues searching for investment opportunities, as deposit rates remain low” & &8220;Companies continue searching for funding as &8220;normal&8221; capital market functions have been…Read more #KoreConx: a global re-bundling #Fintech #case
    Bank Innovation

     

  • user 12:19 am on June 7, 2016 Permalink | Reply
    Tags: , , , Lenny, ,   

    Lenny Includes Personal Finance Services in Lending App 

    Two months in, #Lenny – millennial-focused mobile #lending app – is ready to hit the market with new budgeting and billpay products. Launched mid-March, Lenny’s goal is to help millennials build credit scores while still in school, with loans up to $ 10,000 and 0% interest (if paid on time). So far,Read More
    Bank Innovation

     

  • user 6:26 pm on June 6, 2016 Permalink | Reply
    Tags: Answers, , , , , , , , ,   

    90 Central Banks Seek Blockchain Answers at Federal Reserve Event 

    A number of major #central #banks worldwide have organizing working groups dedicated to exploring #blockchain #technology and digital currencies.
    fintech techcrunch

     

  • user 12:18 pm on June 6, 2016 Permalink | Reply
    Tags: , 22, , Altfi, , Midwest, , Southwest, ,   

    Wrap of week #22: Midwest, Southwest, Insurtech, Altfi, Payments 

    Last #week we hovered over the #Midwest and the #Southwest; Kansas and Austin, TX. Kansas: A global alternative exchange that IPO’d; BATS exchange. Austin TX: An alternative credit history builder running in a bank; SelfLender. We continued our #Insurtech coverage focusing in the Auto Industry with 21 ventures. We offered insights in the broad&160;#Altfi space: For…Read more #Wrap of week #22: Midwest, Southwest, Insurtech, Altfi,&160;#Payments
    Bank Innovation

     

  • user 3:35 am on June 6, 2016 Permalink | Reply
    Tags: abgestraft, , , Immobilienbranche, Nachzügler,   

    Digitalisierung der Immobilienbranche: Nachzügler werden abgestraft 

    Die Immobilien- und Baubranche wird durch die fortschreitende #Digitalisierung stark geprägt. Eine Studie der Hochschule Luzern zeigt, dass Unternehmen, welche die Herausforderungen verschlafen, existentiell gefährdet sind. Insbesondere kleinere und national agierende Firmen haben Nachholbedarf. Die Studie führt zudem die Schlüsselfaktoren auf, um im digitalen Wettbewerb erfolgreich zu agieren.

    Mit einer breit angelegten Untersuchung bei den wichtigsten Akteurinnen und Akteuren der #Immobilienbranche hat das Institut für Finanzdienstleistungen Zug IFZ der Hochschule Luzern das «Digitalisierungsbarometer 2016» ermittelt. Die Analyse macht deutlich, dass 72 Prozent der befragten Unternehmen die Bedeutung der Digitalisierung erkannt und entsprechende Ziele in der Unternehmensstrategie verankert haben.

    Die Qualität der Umsetzung ist jedoch sehr unterschiedlich. Bauunternehmungen und Architekturbüros etwa sind bezüglich der Digitalisierung oftmals schlecht aufgestellt, obwohl sie sich selber eher als Vorreiter sehen. «Durch den täglichen Einsatz von digitalen Systemen wie 3-D-Modelling oder CAD-Systemen scheinen sich insbesondere Architekturbüros bezüglich der vorherrschenden Digitalisierung als innovativ einzustufen. Doch sie erkennen noch zu wenig, dass sich mit der Digitalisierung nicht nur die Planungsprozesse, sondern auch die Kundenbeziehungen verändern #werden», sagt Studienleiter Markus Schmidiger.

    ogImageHslu | Digitale Immobilien

    Nationale Unternehmen unterschätzen Auswirkungen

    Unterschiede gibt es nicht nur bezüglich Geschäftsbereiche, sondern auch hinsichtlich der Ausrichtung der Firmen. «Die 69 Prozent rein national tätigen Unternehmen wähnen sich noch in einem sicheren Hafen», so Schmidiger. International tätige Firmen spüren einen wesentlich raueren Wind, nehmen das geänderte Kundenverhalten und die stärkere Konkurrenz drastischer wahr und setzen die Möglichkeiten der Digitalisierung wesentlich konsequenter um. «Je mehr internationale Firmen in die Schweiz drängen, umso mehr werden die nationalen Unternehmen unter Druck kommen», sagt Schmidiger.

    Effizienzsteigerung alleine reicht nicht

    Drei Viertel der Betriebe haben die digitalen Möglichkeiten bis dato insbesondere für Veränderungen ihrer internen Prozesse eingesetzt. «Konkret fokussieren sich die Firmen hauptsächlich auf Effizienzsteigerungen und Kostenreduktionen. Die Chancen der Digitalisierung zur Gestaltung von Kundenbeziehungen werden noch zu wenig erkannt», sagt Schmidiger. Dieser Fokus wird sich in den kommenden Jahren verschieben. Mehr als die Hälfte der Unternehmen geht davon aus, dass die Digitalisierung dazu führt, dass sich Geschäftsmodelle grundsätzlich verändern.

    Eine konsequente Digitalisierung von Geschäftsmodellen kann Produktivitätsgewinne von 80 bis 90 Prozent und damit traditionelle Anbieter massiv in Schwierigkeiten bringen. «Die Bewältigung dieser nächsten Phase wird von den Unternehmen den Mut erfordern, das eigene Vorgehen grundsätzlich in Frage zu stellen und sich im Extremfall sogar selber zu kannibalisieren», sagt Schmidiger.

    Kundenverhalten ist zu wenig bekannt

    97 Prozent aller befragten Unternehmen bejahen, dass sich das Kundenumfeld durch die Möglichkeiten der Online-Kanäle wandelt. So vergleichen Kundinnen und Kunden mehr, und sie sind preissensitiver geworden. «Das Internet baut Informationsasymmetrien ab und gibt mehr Verhandlungsmacht», sagt Schmidiger. Während sich die Kundschaft der Immobilienbranche in den vergangenen Jahren dank der Digitalisierung emanzipierte, hinken die Unternehmen im Bereich Kundenanalyse hinterher.

    «44 Prozent der Firmen wissen nicht, wie sich ihre Kunden heute im Internet bewegen: Ob sie über ein Online-Portal auf das Angebot aufmerksam wurden, ob sie mobil oder stationär auf die Website zugreifen oder welche Informationen sie tatsächlich nutzen», sagt Schmidiger. «Damit fehlen den Unternehmen die Grundlagen, um ihre Produkte, Dienstleistungen und Vertriebskanäle zu optimieren.»

    Digital Leaders setzen sich ab

    Digital Leaders sind Firmen, die sich aktiv mit der Digitalisierung auseinandersetzen und entsprechende Massnahmen umsetzen. Sie konnten in den vergangenen Jahren stärker als andere Unternehmen neue Branchen, Zielgruppen und Regionen erschliessen und dabei sowohl Marktanteile als auch Einnahmen und Profitabilität erhöhen. Die Analyse zeigt, dass sich die Innovatoren in klar definierten Punkten von den Nachzüglern unterscheiden: Digital Leaders widmen sich vermehrt der Datenanalyse und kennen die Kunden und das Marktumfeld.

    Sie wissen, mit wem sie wirklich Geld verdienen, und können deshalb ihre Angebote sowie Informationskanäle darauf ausrichten und sich besser auf Entwicklungen vorbereiten. Sie nutzen nebst den angestammten Offline-Kanälen auch Online-Kanäle konsequent, setzen aber trotzdem gezielt auf Beziehungsmanagement. Durch ihre Innovationskraft ziehen sie qualifiziertere Mitarbeitende an, die wiederum die Digitalisierung vorantreiben. Tendenziell gewinnen sie die anspruchsvolleren Kunden. Die #Nachzügler (immerhin 27 Prozent der Unternehmen) müssen sich mit den weniger anspruchsvollen Kunden und den weniger qualifizierten Mitarbeitenden begnügen.

    Während knapp 60 Prozent der Digital Leaders sowohl die Einnahmen je Kunde und Einzelauftrag als auch insgesamt steigern konnten, sind es bei den Nachzüglern nur knapp 22 Prozent. Das deutet darauf hin, dass sich die Schere in Zukunft noch weiter öffnen wird. «Die Digitalisierung lohnt sich. Und sie wird zur Überlebensfrage: Wer den Zug verpasst, wird untergehen», sagt Schmidiger.

    Für die Studie «Digitalisierungsbarometer: Die Immobilienbranche im digitalen Wandel» wertete das Forschungsteam knapp 1ʼ000 Antworten von Fachpersonen aus, die etwa in Architekturbüros, Generalunternehmen, Bauunternehmen, bei der öffentlichen Hand, in der Vermarktung oder im Bereich Immobilieninvestment tätig sind. Die Studie entstand in Zusammenarbeit mit Amstein + Walthert, Halter Immobilien, Wincasa, Garaio, ImmoScout24, Implenia, Migros Pensionskasse und Swisscom. Sie kann zum Preis von CHF 90.00 unter [email protected] bestellt werden. Das Institut für Finanzdienstleistungen Zug IFZ der Hochschule Luzern wird das Digitalisierungsbarometer auch in den kommenden Jahren veröffentlichen.

     

    The post Digitalisierung der Immobilienbranche: Nachzügler werden abgestraft appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     

  • user 2:10 am on June 6, 2016 Permalink | Reply
    Tags: , , , ,   

    Fintech is playing the long game 

    chess Our team has been actively investing in #fintech for the past two years. In addition to reading pitches from hundreds of companies and meeting with dozens, half of our team has worked in the finance sector in previous careers. SparkLabs Global decided to create an easy to read overview for others to get up to speed on how innovation and #technology will disrupt the financial sector. Read More


    fintech techcrunch

     

  • user 12:18 am on June 6, 2016 Permalink | Reply
    Tags: , , , , , , ,   

    What’s the Trojan Horse Distribution Strategy for Online Business Lending? 

    An efficient and unique product #distribution model is critical if you want to scale your business. This is evident in the small business #online #lending space. Why? Well, as competition increases in the sector within well-trodden distribution channels, two things happen: Customer Acquisition Costs (CAC) in popular channels will increaseRead More
    Bank Innovation

     

  • user 10:54 pm on June 5, 2016 Permalink | Reply
    Tags: , engage, , , , , ,   

    How Fintech Startups should engage Finserv Incumbents 

     

    shutterstock_327573749If my thesis on the growing importance of Corporate Venture Capital, b2b business models and #finserv (banking or insurance) #Incumbents as strategic partners for #fintech #startups – in lending, capital markets, payments, asset management and insurance &8211; then it is of the utmost importance for said startups to know how to #engage with their future investors/customers/partners. To be clear, for the purposes of this exercise I will assume there is a business/#technology rationale and intent to partner.

    The most optimal way to know how to engage with someone is to learn how they engage with you.

    A finserv Incumbent will engage you along three vectors: a) the venture investing vector, b) the innovation vector, and c) the business vector.

    Answering questions around what, how, who and where along these three vectors is paramount to your future success. Answers to many of the questions I am mapping out below will help you gauge not only the mechanics of engagement but the culture of the strategic partner you are dealing with and if that culture fits with your vision.

    Your goal is to figure out how difficult the road ahead is and what to do to maximize success. Remember that dealing with a finserv Incumbent is eminently more difficult that dealing with an independent venture investor.

    As a rule of thumb the more abstracted, specialized and sophisticated each of these vectors are, the easier it will be to achieve your goals, assuming business alignment and intent are present. Picture a finserv Incumbent where there is no venture or innovation team per se and where all decision will be made on balance sheet by business leaders with little understanding of early stage technology or business models and you will readily understand that your path will be rather arduous.

    Here are a few pointers I recommend fintech entrepreneurs pay heed to when interacting with a bank or an insurance company. Answering these questions will lead you to better understand what beast you are dealing with.

    1) How does an Incumbent invest in startups: Does the group you are dealing with have a dedicated team specialized in venture investing or a generalist team that takes care of any type of investment? Is the venture team investing on balance sheet or are they organized as a separate entity? How much capital is dedicated to venture investing? Who sits on the Investment Committee, only the venture team, only executives, a mix? What can they invest in and what cannot they invest in? What makes them consider making an investment? Can they invest without a commercial or strategic rationale?

    2) How mature is an Incumbent’s venture investing practice: How many investments have they made? What is their due diligence and investment process? How long does it take? How deep is the due diligence process? How much capital is left to make investments in the next 3 years? What is their reputation? Are they specialized enough to know venture investing is as much of an art as it is a science, if not more?

    3) How does an Incumbent approach innovation: Do they have an innovation group? Is it centralized or decentralized &8211; especially important if you are dealing with a global incumbent? In case there is a central innovation group and decentralized teams, who is the decision maker when considering innovation projects? Is the innovation group divided into specialized teams?

    4) How mature is an Incumbent&8217;s innovation group: How long has the group been in existence? How many projects has the group worked on? How many projects can the group work on simultaneously? Does the group work on projects with early stage startups as well as established service providers? How savvy are they with your technology? What is their reputation in the marketplace? Are they leaders, “me too” players?

    5) What is the role of the business group involved: Do they have decision making powers when contemplating an investment, when contemplating a commercial agreement? When do they get involved &8211; early in the process, late? Can they contemplate a commercial agreement without making an investment?

    6) How mature are the Incumbent&8217;s business groups when dealing with startups: How many startups have they dealt with? How many commercial agreements have they completed? Where they front line or did they rely on Venture and Innovation? What is their reputation? What is the average time for them to go to market with new projects? How is their incentive, top line or cost wise, with your particular business? Are they urgently in need of your business solution?

    7) Interaction between Venture, Innovation and the Business groups: Who leads, who follows, who reports to whom? Is the interest in interacting with your startup initiated by Innovation, by Venture, by the Business group and what are the implications? How will Venture or Innovation help you navigating potential commercial agreements with Business groups? Who has &8220;skin in the game&8221; compared to the others? Who has more &8220;skin in the game&8221; than others?

    8) How is the decision making process influenced: Who are the decision makers, the gatekeepers and the champions? Where do they sit in the org chart and among the Venture, Innovation and Business groups.

    9) Motivations of each of Venture, Innovation and Business groups: Are the motivations aligned? What are the goals? Pay special attention to how aligned the Business group is with Venture and Innovation. Do commercial imperatives trump innovation imperatives? Do long term strategic imperatives trump short term commercial ones? How do these motivations and imperatives apply to you and your startup?

    10) Reporting Structure: Who do Venture and Innovation report to? Directly to the CEO, the CFO, the Board? If not who do they report to? Does Venture report to Innovation? Are both Venture and Innovation hidden within the bowels of an Incumbent or do they have the necessary and required exposure and support from C-level executives?

    11) Explore the role of legal, compliance and regulatory: How convoluted will be the legal and compliance process? Will you be dealing directly with legal and compliance or will you be shielded by Venture, Innovation of the Business group? When will legal and compliance be involved? Are they well versed in the legal arts of early stage investing? Will they bring a bazooka to a knife fight? How much of a burden will they impose on you? Will there be a regulatory approval hurdle to clear?

    12) Explore the role of procurement: Assuming there is a vendor management or procurement group, will you need to clear that hurdle too? What will it mean to you, how many resources will you have to engage immediately and over time? What type of data will you need to provide? Are they gatekeepers or decision makers too?

    13) Explore who will be in charge of a commercial project implementation and integration: Will the Business group be responsible? Will they have the skills and understanding required to fully digest your technology and business model? Will they rely on a separate IT or operations group? If so, how does the IT/Ops group interact with new vendors when implementing and integrating? How mature and sophisticated is the IT/Ops team? Have they engaged startups in the past or are they more of a &8220;we build our own stuff&8221; outfit?

    14) Explore how your future finserv Incumbent partner interacts with the broad ecosystem: Are they aligned with independent hackathons, independent accelerators? Who are their natural peer partners &8211; other #banks or insurers they have invested with in the future or entered in JV or commercial agreements with? Who are their natural competitors &8211; those they will not want to deal with or invest with or JV with? Which traditional VC investors have they invested with in the past? Which non-bank companies do they partner with? Does partnering accelerate your chances of additional partnerships?

    15) Gauge how you will need to adapt: Inevitably, you will need to adapt based on answers and observations you glean along the way. I do not mean adapting in fundamental ways such as radically changing your business model or your technology, and if that is a requirement then you #should think twice about the costs and benefits before engaging fully. Rather I mean marginal adaptation to clear certain understandable hurdles around technology delivery for example. How much professional services will you need to incorporate? Will you need to localize to a certain geography? Will your partner&8217;s compliance thresholds lead you to tweak your technology? The sooner you get clarity on the need to adapt and how you will need to adapt, the sooner you will be able to quantify and qualify the associated costs.

    16) Explore post integration life as a startup partner: Are the rules of engagement well defined? Will there be periodic reviews? How will you be reviewed? Will the relationship be balanced? Who will participate? Will the champions, gatekeepers and decision makers that you identified during the pre commercial phase be the same?

    I realize I have mapped many questions. My purpose is not to scare a fintech entrepreneur. Do realize the end goal is a potential prize of investment, referenceable client, commercial agreement and cash flow generation. In other words, the rewards are overwhelmingly worth the pain of discovery and engagement strategy building.

    Additionally, even if there is a demonstrable strategic/commercial rationale, answer to the above may lead you to realize you are not ready for that particular finserv Incumbent as a partner, or that they are not ready for you. That type of epiphany may save you form serious heartburns down the road.

    More specifically, dealing with a finserv Incumbent is unique from the point of view of regulatory, compliance and legal complexities as well as the type of individuals you will encounter (business leaders may not know how to engage with a startup, IT/Ops may not be up to par knowledge wise). Knowledge will allow you to mitigate more effectively.

    Finally, remember that the mature service providers and vendors that sell to banks or insurers are very sophisticated and know how to sell, to whom to sell, how complex it is to sell. As a fintech entrepreneur you are competing with these mature service providers with limited resources. You need the smarts and the framework to close that gap and become a sophisticated &8220;enterprise&8221; focused fintech startup in your own right.

    FiniCulture

     

  • user 7:00 pm on June 5, 2016 Permalink | Reply
    Tags: , ing, Ralph Hamers   

    Fintech: friend or foe? Money20/20 presentation by ING CEO Ralph Hamers 

    Should #banks treat fintechs as friend or a foe? That’s the basic question #ING CEO #Ralph Hamers posed at a keynote address he gave at Money 20/20 Europe in Copenhagen.

     

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