It’s easy to move your money between #banks. What&8217;s annoying is moving your apps. There&8217;s been a recent explosion of #fintech products in spaces like&160;stock trading, wealth management, payments, loans, remittance, and&160;insurance. That&8217;s been fueled by a massive uptick in venture&160;investment in private fintech companies, which hit $ 19 billion in… Read More
When you think of fun, I’m sure the secure delivery of your financial data isn’t the first thing that comes to mind – but why are the two mutually exclusive? Now that we’ve mastered accessing financial information through #FinTech applications, we need to focus on the next generation of FinTech – Millennials and FinTech Disruptors: a generation focused on the gamification and socialization of data.
Companies – think Mint, Stripe, Swift, Venmo – are on a social mission. By improving user-engagement, organizational productivity and design, they have created an overall rewarding experience. Users find these apps not only useful, but a pleasurable experience by accomplishing tasks in a quick and fun way. These FinTech apps make it easy to forget that behind the innovative app in your smart phone is a traditional Financial Institution that powers it.
Think about it – if you owe your friend money for a cab home, would you rather go through the hassle of finding a bank and depositing the $20 or use a mobile app that not only securely accesses your bank account, but allows you to personalize the payment process with pictures, messages and even direct links to your social media accounts? By pressing a button on your smart phone, you can now simultaneously update your Facebook status and pay your friend back, from anywhere in the world. This shows #technology is evolving, that people are evolving. As time and quality of life become higher priorities, these apps will empower users to be more productive, all while managing their finances.
Of course, it’s not all fun and games. These FinTech apps may act like a Financial Institution, access your most personal information and handle your money, but they are not regulated like a Financial Institution, that actually holds your assets. Security is also a concern, but then again is your Financial Institution providing access to your data in a secure way today? In addition to hackers and security breaches, consumers need to worry as their personal data is constantly subjected to identify theft. FinTech apps mostly pull their data through screen scraping, a costly, unreliable method that puts the Financial Institutions and your information at risk. However, some Financial Institutions are embracing technology and investing in advanced data aggregation and management platforms – think EEI’s Trusted Network™ – a clear indicator they value their client’s demands.
Financial Institutions have begun to notice that keeping up with this on-demand lifestyle is no easy feat. These Digital Natives, the epitome of the instant gratification culture, must be able to access and move their money while waiting on line at Starbucks. Financial Institutions have been ill-equipped to handle these expectations, allowing FinTech “disruptors” to swoop in and cater to the world’s largest generation: Millennials. The financial sector is now at an inflection point and as competition increases and demand grows, we will see Financial Institutions either invest and adopt the modern FinTech culture or fall by the wayside. Regardless of your preference, one thing is for sure, “traditional banking” will never be the same again.
This is the first in a series of blogs I’ll be writing exploring the shift in technology and culture in the financial services industry.
To read past blog posts click here: https://www.linkedin.com/pulse/data-king-jaimie-anzelone
Contact:
Jaimie Anzelone
115 Broadway Suite 1705
New York, NY 10006
[email protected] | 212-344-2000
Original post at: https://www.linkedin.com/pulse/fintech-dont-you-mean-funtech-jaimie-anzelone
LendInvest, a UK marketplace lending platform focused on short-term property financing has just announced a partnership with Australian investment bank Macquarie for £40m.
How the money will be lent:
The £40m from Macquarie adds to the funds committed by other institutional bodies and will be put towards property financing. The Macquarie injection of funds will be attributed to a new warehouse product line, ensuring LendInvest take the lead in being the most diversified mortgage lending platform in the UK.
What do LendInvest do?
LendInvest match retail investors and institutions with property developers, typically, looking for short term (bridging) mortgage finance so they can develop a property and sell out in a six-month period (approximately).
Peer-to-peer lending UK property/mortgage lenders
Last year LendInvest lent £300m across their platform, asserting themselves as the largest property focused financier in peer-to-peer lending UK. It has lent over £600m since its formation in 2013.
Other property based lenders include Landbay who focus on residential mortgages, Assetz Capital and Wellesley & Co who focus on property developments and also Saving Stream and Proplend who allow investors to manually select property loans.
LendInvest institutional backing
The marketplace lender has the backing of four #banks, including a challenger, however they are reluctant to name their backers. LendInvest now has £260m of institutional cash to play with, demonstrating the level of funding outside of retail investors being injected into marketplace lending – consider LendInvest had £300m invested across it in 2015, so £260m institutional cash available compounds the notion that ‘whole loan’ funding is transforming the ‘peer to peer’ market into a dichotomy of individual investors and institutions.
Christian Faes, CEO of LendInvest had this to say:
LendInvest is creating the most diverse capital base of any mortgage lender in the market which is a key differentiator for our business. By welcoming another significant institution and funding line to our business, we are putting in place the foundations for a very scalable move into longer duration lending and ultimately the mainstream UK mortgage market.
published by Jordan Stodart from Orca Money at https://www.linkedin.com/pulse/lendinvest-secure-40m-from-macquarie-jordan-stodart?trk=hb_ntf_MEGAPHONE_ARTICLE_POST
#Fintech challenges Veda, Dun & Bradstreet
CreditSME – founded by Adam Welsh, a former M&A and debt at Origin Capital Group and Goldman Sachs – is offering a sort of broker role, giving them a credit rating and then advising them on which lenders would be the best for them – be it traditional …
Read more on The Australian Financial Review
#Fintech: #Shaking up the #financial #industry
The following is a script from "Fintech" which aired on May 1, 2016. Lesley Stahl is the correspondent. Shachar Bar-On, producer. One sector of our economy after the next is being disrupted by new apps and websites, like bookstores, travel agents …
Read more on CBS News
Malaysia #banks told to embrace challenges posed by fintech firms
KUALA LUMPUR (May 3): Malaysia's banking industry has been urged to embrace challenges put forward by financial #technology (fintech) companies to stay relevant in the evolving world economy. "With fintech, people don&39;t go to the banks anymore and …
Read more on The Edge Markets MY
60 #Minutes on #Fintech: #HENRYs #Hate #Traditional #Banks (#Video)
Leslie Stahl Talks Fintech on 60 Minutes Perpetual television news magazine 60 Minutes has finally gotten around to addressing the Fintech movement. 6o Minutes has been on the air since before most of the people reading this were born (1968).
Read more on Crowdfund Insider
Morning Scan: Stripe Leads Fintech 'Revolution&39;; #Bitcoin Creator Revealed?
Wall Street Journal Silicon Valley is investing in a startup that seeks an old-fashioned bank charter. Yes, you read that correctly. Warburg Pincus, which has plenty of experience investing in community banks, is leading an investment round in Varo …
Read more on American Banker
More And More Action In #FinTech
Warburg Pincus now getting into the FinTech game with move for San Francisco-based Varo Money. Previous efforts into the banking space have just been partial, but Varo has sights on complete bank including deposits. Seems like the momentum has …
Read more on Seeking Alpha
Legacy banking vendors in fintech firing line
It's not just creaky old incumbent #banks that face a threat from emerging digital startups; the established vendor community that has grown to serve these banks may also be facing a bleaker future, according to new research from Gartner. Gartner …
Read more on Finextra (press release)
#Nordigen #wins #Rietumu #fintech #challenge
Fintech is a sphere which is today referred to as the most prospective for starting entrepreneurs. This is why such projects in the field of financial technologies number not in the dozens but in the hundreds. However, not all ideas are going to be …
Read more on Finextra
Upstart lender SoFi maintains its bravado
The firm's formerly spotless loan portfolio — it has had 17 defaults among 100,000 or so student-loan borrowers, five of them by death — is beginning to show signs of strain. And as “fintech” fervour cools, equity and debt investors have become more …
Read more on Financial Times
#CFAs #Warn That #Asset #Management #Firms #Should #Fear #Fintech #Most
The respondents didn't view the fintech threat as a flash in the pan. They viewed robos as having a continued, large impact on the industry in five years, while they were more skeptical about the ability of crowdfunding and marketplace lending to last …
Read more on Bloomberg
European fintech funding deals have tripled, but the Brexit threat poses a …
Thanks to helpful regulations, Europe has become a hotbed of fintech activity, and deals in this region have tripled in the last year. But the looming threat of the "Brexit" could shake up the way investors pour their money into the region. European …
Read more on Business Insider
Brexit good for UK FinTech
From my perspective and given my role as a top global FinTech influencer, I&39;ve been asked many times recently about the impact on the blossoming UK FinTech (Financial #Technology) industry should the UK vote to leave the EU. So let&39;s look specifically …
Read more on Finextra (blog)
#India #emerging as fastest-growing #market for #fintech #software #products
Powered by innovation in payment processing, the fintech software products segment is expanding at a rapid pace in India, according to the National Association of Software and Services Companies (Nasscom), which represents country's IT industry.
Read more on ZDNet
Payment startup Zooz raises million as global fintech looks for standards
As payment solutions proliferate and calls for standardization mount, Israel-based payment platform startup Zooz said it has closed a $ 24 million led by Target Global Ventures, to expand globally and bolster its products and services. Zooz&39;s series C …
Read more on TechCrunch
Australia&39;s fintech industry gets a sandbox in the budget
The federal budget acknowledges the growth of Australia&39;s growing fintech industry disrupting the financial services sector. And $ 200,000 has been budgeted to promote Australia as a fintech development centre. Another measure is starting a regulatory …
Read more on Business Insider Australia
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