EXCLUSIVE- #Bank #Innovation has released its seventh annual #fintech #conference agenda. Sprinkled with fireside chats, startup demos, pre-conference workshops, and ample time for networking with industry peers, Bank Innovation’s #2018 conference will be categorized into three content tracks: Strategy, Product and Demovation. Under the Strategy track, topics range from APIs and open banking adoption, to […]
Bank Innovation
EXCLUSIVE— P2P Venmo challenger #Zelle will launch its #standalone app this month, allowing customers to use the service directly rather than transacting via a Zelle-enabled mobile banking app. The move will hopefully help Zelle — which is owned by Early Warning Services, LLC — continue the growth it has been consistently seeing over the past year, […]
Bank Innovation
EXCLUSIVE – Add another fitness focused tech wearable to MasterCard’s list. Today, wearable maker, #Garmin International announced a new #smartwatch, Vivoactive 3, that will have a contactless payment feature for MasterCard users. Visa is supporting #payments for he device as well. The Olathe, Kansas-based Garmin announced the new smartwatch today at the International Franchise Association’s […]
Bank Innovation
The #wealth #management startup #Grain went live with its 2.0 version in the iOS app store this week. Grain is also live on Product Hunt. Version 2.0 amplifies and advances its “social investing” strategy and service. Specifically, Grain allows users to &8220;play&8221; investing with friends before committing funds to actual investments. The app helps its investors discover investments, […]
Bank Innovation
Welcome to another crazy week in #cryptocurrency! There’s been a lot for #blockchain enthusiasts to digest this week, but let’s start with consortium #news. The R3CEV blockchain consortium of #banks opened its #Corda codebase up to the larger developer community this week, in the hopes that independent experiments based onRead More
Bank Innovation
Enterprise #blockchain firm #Ripple just today announced the rise of a new CEO, as Brad Garlinghouse takes over from the company’s current CEO Chris Larsen. Larsen will serve as chairman of the executive board come January of next year, when Garlinghouse will move from COO to CEO. Larsen wrote about theRead More
Bank Innovation
It seems as though #fintech-ers are more interested in chatbots than #blockchain these days, but that doesn’t mean distributed ledger #technology has slid out of the spotlight. Blockchain startup #Chain made waves at the recent Money20/20 event when it announced what it’s calling the Chain Core Developer Edition: basically theRead More
Bank Innovation
#Monese, a UK-headquartered mobile-only #challenger #bank, has launched its iOS app alongside a refreshed Android app.
Monese lets you open a UK current account almost instantly even without a UK address or credit history, all through the app.
Opening a Monese bank account is quite simple and only requires a snapshot of your passport and a selfie. Monese is available to customers located in Europe.
The banking account comes with a (free) contactless Visa Debit card, which allows you to purchase goods and services online and in store, withdraw cash from ATMs globally, as well as deposit cash at any shop with a PayPoint.
The Monese app works pretty much like any other banking app: you can receive payments, send money at home or abroad (8x cheaper than using a traditional bank), pay your bills and manage your money on the go.
Monese primarily targets immigrants, digital nomads and the expats community who often have to experience challenging tasks when opening a UK bank account as foreigners.
Named ‘Best Challenger-Bank’ in Europe, the startup has been awarded €1.1 million by the European Commission for research and innovation.
Monese, one of the first 100% mobile current account services to launch in the UK back in September 2015, is registered by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money.
Since the UK&8217;s financial regulators loosened rules for new entrants in 2013, a host of startups have applied for banking licenses in order to take on the established lenders. Monese, but also Mondo, Atom Bank and Starling, have that one thing in common: they are all engaging with customers almost entirely through digital channels.
In April, app-only bank Atom Bank launched its iOS app in the UK and is currently looking to replace passwords with biometrics banking. The company is authorized with restrictions by the Prudential Regulation Authority (PRA) and regulated by the FCA.
Atom Bank is backed by BBVA, Anthemis Group, Polar Capital Holdings and Toscafund Asset Management, and has raised over US$ 170 million in funding so far.
In May, Viacom Media released results of a survey of over 10,000 millennials on their perception of banking. The survey found that 73% would be more excited about a new offering in financial services from leading #technology companies than from their own bank.
Image: Millennial Generation by William Perugini, via Shutterstock.
Engaging with millennials, a growing population of 80 million individuals in the US along with radically different expectations from their predecessors, has become a top priority for #banks. Growing up in the age of the Internet boom, millennials have ushered in the rise of mobile apps, crowd-source funding, digital peer-to-peer payments and online banking.
According to the Millennial Disruption Index, 68% believe that in five years, the way we access money will be totally different and 70% say that the way we pay for goods and services will completely change in five years.
Interestingly, 33% believe they won&8217;t need a bank at all in five years, and almost 50% are relying on tech startups to fundamentally change how banks work today.
The post Mobile-Only Challenger Bank Monese Releases iOS App appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
#Dash #Financial resets bar for buyside traders with a new app added to its Order Visualization #technology.
FinTech – Finance Magnates | Financial and business news
#Blockchain, artificial intelligence (AI), machine learning and Big Data will transform #capital #markets, according to #German #stock #market #operator Deutsche Boerse. It urges established financial infrastructure players to start approaching #fintech firms and consider partnering with these innovative ventures.
In a new report entitled ‘Future of Fintech in Capital Markets,’ Deutsche Boerse, in collaboration with fintech research and advisory firm Celent, analyzes the potential impact of fintech on market infrastructure incumbents and highlights the opportunity for providers in partnering with these new innovative ventures.
According to David Easthope, senior vice president and responsible for the securities and investments practice of Celent, pioneering fintech firms are transforming major parts of the financial services ecosystem. He urges incumbents and fintech firms to start pursuing a collaborative approach, arguing that fintech will mostly likely shape the future of capital provision, #technology, and other industry workflows.
In 2015, about US$ 19 billion in capital was invested globally in fintech across approximately 1,200 deals, highlighting the general appetite for financial services disruptors.
The report points out five capital market fintech clusters and technologies:
Blockchain technology and distributed ledgers have the potential to substantially change the nature of issuance, and potentially enhance exchanges&8217; role in price discovery, access liquidity, reduce frictional costs and offer a path to a more efficient core market infrastructure.
Post-trade digitalization: firms are looking into Big Data, AI and advanced analytics to process and create compliance and regulatory reporting. Regulatory technology (regtech) is an opportunity for incumbents to improve their operational efficiency, reduce systemic risk, and provide additional revenue-generating opportunities.
Machine learning, predictive analytics and Big Data technologies, will impact capital markets by providing tools to mine data across the value chain. New methods of data delivery and tools for insight and prediction will allow firms to make better decisions around allocation and risk, and investors to gain access to next-gen index products, ETFs, as well as other innovative trading and investment products.
Investment technologies, including automated investment management tools or #robo-advisors, are gaining relevance as the industry continues to shift towards automation in asset allocation and rebalancing. On the retail side, customers are shifting to cloud-based digital solutions that are accessible in terms of pricing as well as usability.
Alternative funding platforms and peer-to-peer business models are reshaping traditional channels for equity and debt capital formation, opening up new networks for accessing capital. Financial market organizations can capitalize on this trend and provide new solutions to the financing and funding market.
As trends in digitalization accelerate, established technology firms and market operators will need to collaborate with new business models and innovative technologies.
“Market participants need to continually evolve and innovate their business models,” the report says.
&8220;The financial market infrastructure provider of tomorrow will have leveraged its leadership in regulation, market structure, trading, clearing, and settlement to guide startup fintech firms in the journey towards creating an effective and safe capital market for the twenty-first century and beyond.&8221;
The report was released simultaneously with the announcement of Deutsche Boerse Group&8217;s new corporate venture capital platform, DB1 Ventures. The team, based primarily in Frankfurt, said it will invest in early to growth stage fintech firms and manage the group&8217;s existing portfolio of investments.
According to Carsten Kengeter, CEO of Deutsche Boerse, the idea behind DBI Ventures is to allow the group to continue on being an active investor in the space. DBI Ventures will primarily focus on ventures and products that &8220;are core or adjacent to our client, product, geographic and technology strategy,&8221; according to Kengeter.
Committed to keeping up with emerging fintech trends, Deutsche Boerse has been involved in the space via various means. In April 2016, the group launched its Fintech Hub in Frankfurt, an initiative aimed at acting as a cluster for German financial innovation.
Deutsche Boerse is also an investor in Digital Asset Holdings, a developer of distributed ledger technology for the financial services industry. In November 2015, it invested in Illuminate&8217;s IFM Fintech Opportunities Fund, which focuses on areas such as compliance, regulation and connectivity.
In July 2015, Deutsche Boerse acquired forex trading digital platform 360T for 725 million euros.
Featured image: Deutsche Boerse by Jochen Zick, Action Press, via Flickr.
The post German Stock Market Operator Releases Paper On How Fintech Will Reshape Capital Markets appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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