KPMG and Microsoft Boost Their Global Alliance
Recognizing the need for tech-powered solutions, #KPMG will work closely with #Microsoft in both consulting and audit, including Azure-enhanced tools.
Financial Technology
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Pendo Systems Uncovers A Global Bank’s “Dark Data” At High Speed
#Pendo #Systems can find important information in millions of pages documentation. This is often called #dark #data because it has not been stored in standard database. It exists, but it has been hard to find.
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Apple Pay Transactions Skyrocket Amid Global Expansion
Mobile wallet adoption may not be gaining traction for most, but #Apple is an exception. During the quarterly earnings call yesterday, the tech giant unveiled Apple Pay growth stats from its #global markets, citing a 450% increase in transaction volume in “the last 12 months.” According to CEO Tim Cook: Apple Pay is experiencing phenomenal traction. With the […]
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Breaking Banks: The Innovate Finance Global Summit
For this episode, host Brett King spoke to some of the main presenters of the recent #Innovate #Finance #Global #Summit event.
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Facebook Global Director to Talk Payment Partnerships at Bank Innovation
Kahina Van Dyke, #global #director of commerce & #payment #partnerships at #Facebook, will be a featured speaker at #Bank #Innovation 2017, which takes place in San Jose on March 6-7. Van Dyke will participate in a fireside chat at the invitation-only event. Facebook has a market capitalization of $ 384.5 billion.Read More
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Citi’s Global API Developer Hub Has Nearly 50 APIs One Month After Launch
Citi #Fintech kicked off its one-year anniversary this November through the #launch of its #Global API #Developer Hub, a platform that has developed 49 #APIs across eight usage categories #after just one #month of availability. “This was our foray into an open-innovation approach, which is something we’re seeing a lotRead More
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Global Venture Capital-backed Fintech Funding Declines In Q3’16: KPMG And CB Insights
Investors continued to take a much more cautious approach to #fintech investments this year. #Venture capital (VC)-backed #global fintech deal activity fell for the second consecutive quarter, marking its lowest level since Q2’14, according to the Pulse of Fintech, the quarterly report on global fintech VC trends published jointly by KPMG International and CB Insights.
VC-backed fintech in Q3 2016
VC-backed fintech #funding dropped 17% to US$ 2.4B, while deal activity fell 12% to 178 deals in #Q3’16 compared to the previous quarter. Asia was the only continent to see a fintech funding increase on a quarterly basis in Q3’16, while North America and Europe fintech funding declined. All three continents covered in the report saw fintech deal count drop.
Chia Tek Yew
“Asian investors are seeing the potential of fintech amidst global uncertainty in an environment of moderating growth,” said Chia Tek Yew, Head of Financial Services Advisory, KPMG in Singapore. “As businesses continue to embark on the journey of transformation, interest and investment in Asia’s fintech sector will continue to be strong, particularly in areas like payments #technology, insurance technology and regulatory or risk technology.”
Mr Chia added: “Singapore is a leading fintech hub, being one of the first countries in the world to put in place a regulatory fintech sandbox. There are also plans by the authorities to explore ways to attract more VC funds, which bodes well for the overall funding ecosystem.”
Asia quarterly fintech funding tops US: US$ 1.2B across 35 deals in Q3’16. While the number of VC-backed fintech deals dropped to a five-quarter low in Asia, funding increased 50% on a quarter-over-quarter basis to reach US$ 1.2B. Year-to-date results of US$ 4.7B suggest Asia-based fintech investment for 2016 could top last year’s peak investment results of US$ 4.8B. Corporates continue to be highly active in Asia’s fintech investment environment, participating in more than half of all deals to VC-backed fintech startups in Q3’16.
North America sees fintech funding fall below US$ 1B. North America saw both fintech funding and the number of deals fall on a quarter-over-quarter basis, as VC-backed startups raised just US$ 0.9B across 96 deals, a drop of 5% in deals from Q2’16 Funding in Q3’16 to VC-backed fintech companies in North America fell 68% compared to the same quarter last year, which saw US$ 100M+ financings to the likes of Sofi, Avant and Kabbage. #KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity.
Deal Count and Investment by Continent
Europe fintech funding on pace to drop below 2015 levels. Q3’16 saw European fintech deals fall 17% quarter-over-quarter as fintech funding in Europe dropped 43% over the same time period to US$ 233M. Germany outpaced the UK in terms of fintech funding for the second consecutive quarter, with 35% more funding raised by German- based VC-backed fintech companies than those in the UK.
Corporates stay active in fintech. Corporates participated in 30% of global VC-backed fintech deals for the second consecutive quarter in Q3’16, driving a significant amount of fintech deals activity globally. Citigroup, Banco Santander and Goldman Sachs have made over 20+ fintech investments in total over the past five quarters, while a host of insurers have launched corporate venture arms.
Other key highlights from the Pulse of Fintech:
The Pulse of Fintech
Global fintech mega-rounds fell to a new low in Q3’16. Asia saw US$ 50M+ fintech rounds stay level for the fourth straight quarter, while Europe has not registered a single US$ 50M+ round to a VC-backed fintech company so far in 2016.
The median late-stage deal size in fintech globally fell to US$ 23M in Q3’16. This is significantly smaller than the same quarter last year, when median late-stage fintech deal size hit US$ 50.2M globally.
Total year-to-date funding to VC-backed InsurTech companies reached US$ 1.36B at the end of Q3’16. InsurTech-focused VC-backed deal activity topped 20 deals during three of the past five quarters.
Next-gen payments has attracted US$ 1.2B+ in 2016 VC-backed funding (year-to-date). The top 20 deals, including Affirm, Mobikwik and One97, raked in 67% of the total funding to payments technology companies in the first three quarters.
Anand Sanwal
Anand Sanwal, CEO of CB Insights, adds: “While we continue to see significant investment into fintech companies globally, the euphoria for mega-deals that we saw into the latter half of 2015 has waned. Total investments to key areas like marketplace lending and #blockchain technology have both seen #declines heading into the tail-end of 2016.”
The post Global Venture Capital-backed Fintech Funding Declines In Q3’16: KPMG And CB Insights appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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The 2017 Global Entrepreneurship Index
As millions of people begin to participate in #Global #Entrepreneurship Week celebrations in 165 countries, a new report shows the United States remains the country with the most favorable conditions for entrepreneurs to start and scale new businesses but with a slowly narrowing gap as other countries increase their support.
The 2017 Global Entrepreneurship Index (GEI) provides key information for policymakers and government leaders worldwide to strengthen their digital ecosystems and promote high-growth, high-impact entrepreneurship. The authors estimate that improving conditions to help entrepreneurs create new companies could add $ 22 trillion to the global economy.“China and India are strengthening their entrepreneurial ecosystems and creating billion dollar startups while Malaysia, Iceland and the Baltic states are emerging as digital entrepreneurship leaders,” said Zoltan Acs, co-author of the report and university professor at the Schar School of Policy and Government at George Mason University. “While institutional variables still need to be strengthened in emerging economies—where individuals are running ahead of policymakers—in developed countries individuals need to be shaken up. In other words, not enough people in developed countries—including the United States—are starting productive high-growth businesses.”
The top of the rankings were dominated by countries in the innovation-driven stage of development. The United States topped the rankings again this year, with a GEI score of 83.4 – a slight drop from its score of 86.2 the previous year. It was followed by (in order): Switzerland (78.0), Canada (75.6), Sweden (75.5), Denmark (74.1), Iceland (73.5), Australia (72.5), the United Kingdom (71.3), Ireland (71.0) and Netherlands (67.8).India (25.8) enjoyed the largest jump in the rankings, moving up 29 spots from last year to land in 69th. Tunisia (40.5) had the second largest jump, from 62nd to 42nd. China (36.3) moved up 12 spots to 48th.
The GEI measures a country’s entrepreneurial ecosystem by combining individual data such as opportunity recognition, startup skills and risk acceptance, with institutional measures, including urbanization, education and economic freedom. These measurements help distinguish self-employment and replicative entrepreneurship from the innovative, productive and rapidly growing entrepreneurial ventures that drive real economic growth.
This year, it included four new components of the digital entrepreneurship ecosystem: Digital Citizenship, Digital Governance, Digital Marketplace and Digital Business.
The report was released by Global Entrepreneurship Network and the GEDI Institute so that findings from the #Index can drive policy discussions at events around the world during Global Entrepreneurship Week.
“This is just the tip of the iceberg of the digital disruption revolution unfolding,” said Jonathan Ortmans, president of the Global Entrepreneurship Network. “The promise of jobs, economic growth and the optimism and hope that entrepreneurs bring to government efforts to create opportunity and prosperity for their citizens, has generated an extraordinary increase in attention from all levels of government in empowering their entrepreneurial ecosystems.”
Other interesting observations from the report include:
– The big surprise is the rise of Switzerland to 2nd place, primarily driven by the aspiration index with very strong scores in high-growth firms, product innovation and process innovation.
&8211; Three of the five Nordic countries, Denmark, Iceland, and Sweden, are in the top ten.
&8211; Taiwan, the highest Asian country, is in 16th place, and Singapore is 24th, which virtually ties it with Japan.
The post The 2017 Global Entrepreneurship Index appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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UBS Reveals Blockchain Prototype for Streamlining Global Trade
UBS has revealed work on a #blockchain #prototype being developed with IBM on Hyperledger’s Fabric.
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Global Banks Partner to Form Blockchain Payments Network
Ripple joins with Bank of America, Santander, the Royal Bank of Canada and more to build a #global #blockchain steering group.
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