Digital fluency and a thirst for convenience are making the UK’s borrowers more capricious and cost-sensitive than ever. Interest rate rises, and new regulations will add fuel to this fire next year, and lenders that can’t keep up will get burned in 2018.
Imagine taking a regular smartphone and turning it into a payment acceptance device with a simple app download. That’s the utopian dream many companies are chasing today and it could bring huge benefits to the payments ecosystem, merchants and consumers as card and mobile payments continue to grow.
Over the past few years there has been a growing proliferation of cryptocurrencies. More recently, companies which may have limited access to fundraising through traditional methods are turning to cryptocurrencies, and initial coin offering (“ICO”), as a means to raise funds.
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Onboarding is pivotal to start clients’ journeys in the best way. Fintech products can use AI to optimize this process.
Someone who invested just USD 1,000 in bitcoin in 2010 will now have a net worth of USD 70 million. With predictions that bitcoin’s value will jump up to USD 50,000, more and more “investors” are jumping on the cryptocurrency bandwagon in a bid to benefit from the “mysterious” cryptocurrency’s phenomenal climb in value.
Banks and financial services institutions are preparing for a shake-up, with the new payments services directive (known as PSD2) coming into force in a matter of months. The rules are set to transform the payments and banking industries, bringing exciting new opportunities for fintech, along with strict new requirements and responsibilities. Here, we outline the key changes to be aware of.
Enhance the visibility of your ICO when you learn what it takes to get the press needed to take your brand’s public profile to the next level in this industry.
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Running a business can be one of the best ways to be financially secure and achieve your goals.
FinTech is rapidly becoming the backbone of consumers’ buying and investing habits, increasingly entrenching different technologies into everyday use. FinTech has transformed the way banks offer financial services to customers, and every day, financial institutions are finding innovative ways to share banking use cases and financial functions with their beneficiaries.
Expensive asset managers today are struggling to deal with the twin challenges to their traditional business model: low-cost, passively-managed index funds, and the online robo-advisors that help retail investors optimize the allocation of their assets between those funds. The finance industry is still unprepared for the next big disruption — widespread use of robo-advisors for liabilities: online tools that will deliver customized credit solutions to consumers in real time.
We stopped by at some of the startups and established fintechs at this year's WebSummit in Lisbon to ask them what their respective products can achieve – in just three minutes. Here's who they are, what they do and how they see the industry.
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Personal loans are often used in Singapore to benefit from the many opportunities offered by the country.
They say imitation is the sincerest form of flattery. Challenger banks are doing what their name suggests, and research indicates they are gaining ground. For established lenders, replicating the characteristics of their smaller, more agile competitors, will help them defend their position. Outsourcing is the key, argues Sarah Jackson, Director, Equiniti Credit Services.
Fintech – the potent intersection of the finance and technology industries – has transformed the business landscape forever. After all, technology had already irrevocably transformed our lives, from the way we shop to the way we socialise. It was time that technology revolutionised the way businesses accessed funds.
My colleagues and I are often left bemused when we hear claims, from fraud experts from across the world, that machine learning is set to change a business function or disrupt a market. Surely, to be really disruptive you have to put the tools in the hands of the customer so they can model and implement the findings immediately. Adding additional 3rd party manual intervention flies in the face of adopting machine learning.
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The CEO of GreenOnline talks about the logic behind the company – and how it helps customers.
Start-ups in the capital market space are a small part of the Fintech world, but are finding multiple opportunities to disrupt retail trading.
Customers’ expectations for mobile apps are changing rapidly across the board. And the banking industry just can’t keep up. The 2 billion people using mobile banking apps by 2020 will expect an immediate and seamless user experience.
Robo-advisory, along with artificial intelligence and big data, is a top trending buzz-word. It is the Uber of the professional investment advisory world, eliminating the intermediate role and thus reducing fees for the end-user.
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Have you wondered how car insurance premiums work and whether states have different prices?
Match borrowers with lenders directly and there is no need for intermediaries anymore. So when digital disruptors squeezed their way into financial services industry, one could think banks were doomed.
Blockchain and Bitcoin technologies look set to change and shake up the course of the digital payments industry. Bitcoin to date is the most successful cryptocurrency and blockchain is what makes it possible, so it is not surprising these two technologies are dominating the eCommerce and payments news space.
According to a recent report from the World Economic Forum, fintechs should start to fear the muscling-in of the tech heavyweights. As Alexa is the personal assistant of choice for several FIs and Amazon powers web content for others, are the tech giants dwarfing the diminutive disruptors?
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Are you curious as to the predictions for Bitcoin in 2023? Read on for the answers!
A race for regulatory talent is about to begin. Regardless of the outcome of the Brexit negotiations, it’s almost certain many UK banks will relocate their headquarters or employees, and European financial capitals will swell in size.