Home Blog Page 23

#CuriosiTech – Discover the 4 Best FinTech of the week: Quantfol.io, Enterprise Bot, Mylo and Rubique

0

Every week, Techfoliance highlights four promising Fintech start-ups in different part of the world in various verticals: lending, payment, investment, etc. In this weekly FinTech mapping we have Quantfol.io, Enterprise Bot, Mylo and Rubique.

Quantfol.io

Quantfolio is a Bergen-based Fintech company delivering “AI-in-a-box” components for banks & wealth managers with a digitial presence. The company empower banks and WMs by providing their customers with anything from automated low cost savings portfolios to sophisticated investment strategies normally reserved for HNW individuals.

Discover here: http://www.quantfol.io

Enterprise Bot

Enterprise Bot is a London-based company that is creating smart recommendations and customer service agents through the development of chatbots powered by AI. Their mission it to cut down response times from 3.5 minutes to under 3 seconds while reducing costs and improving customer satisfaction.

Discover here: http://www.enterprisebot.org/

Mylo

Mylo is a Montreal-based Fintech that automatically rounds up every purchase a customer make and invests the spare change. The user can link its credit and debit cards directly on the mobile app and invest the spare change to help people achieve their financial goals.

Discover here: https://www.mylo.ai/

Rubique

Rubique is a Mumbai-based Fintech that has developed a marketplace lending platform to empower individuals & SMEs with an easy & smoother access to finance through wide range of loan & credit card products. Built on proprietary matchmaking algorithm, Rubique’s marketplace platform has been integrated with financial institutions’ systems for real time processing & provide online approval to the customer.

Discover here: http://www.rubique.com


 

Interview with Kathryn Petralia, COO at Kabbage

0

Kathryn cofounded Kabbage to allow small businesses access capital quickly, an area in which banks and financial institutions have long struggled.

Techfoliance was at MoneyConf in Madrid, which showcased the most promising Fintech startups of the industry. Kabbage is undoubtedly one of them and we feel priviledged to have had the opportunity to chat with its cofounder and leader Kathryn.


About Kathryn Petralia

Kathryn Petralia worked in numerous startups and started three before founding Kabbage. She has always been passionate by Technology, even with an English major. She started working with computers at 9 and in 1994 got in touch with Internet. She has spent the past 20 years working with small and more established companies focused on what was called credit, payments and technology at that time – now, it is called Fintech.

She met her cofounder Rob Frohwein in 2008, who asked her “Would you be interested in founding Kabbage?”

 “And the rest is history…”


About Kabbage

 

Kabbage is a US-based Small Businesses Loans provider. The company launched its business making loans for Ebay sellers in 2007, accessing their data, in real-time.

They started with a real time access to data in order to automate the whole lending process. They have now expanded their service to all kind of businesses and consumers and have deployed more than $3 Billion in lines of credit, opening their technology to thousands of corporates.

“Through Kabbage, companies can now get loans in less than 10 minutes.”

How did it build its community?

Kabbage is not a marketplace such as LendingClub or other P2P Lending companies in the sense that they securitize receivables with multiple institutional investors interested by their attractive APR (Annual Percentage Rate).

The company chose not to face a double-sided market and therefore did not have the chicken-and-the-egg problem, which can be faced by many of its competitors. It mainly worked on acquiring customers (ie. companies with financing needs) and not on acquiring investors.

“All our investors are institutional: it wasn’t a choice at first but this focus turned out to be our best way to get money and became an advantage for us”

Why Kabbage is different from the rest?

“We not only connect their data but maintain connectivity with these companies.”

Plus, they provide a line of credit not a simple loan, with fixed durations. The key in their offering is their automation made possible thanks to the tech they use.

“A lot of it is just about access to the data”

They connect to the data in real time and provide a fast decision for customers, automating the entire process:

“99% of our companies have a 100% automated experience”

Small Business Loans Market trends?

According to Kathryn, the market is seeing some contraction right now in the space and companies are pulling back a little bit. Some companies are struggling and going out of the business. Growth will come again in a little while.

“However Kabbage is doing great and our $3 Billion of deployed loans is a very good proof of success”

Money2020 Europe: Clash of the FinTech Titans (2017)!

0

Join Techfoliance next monday the 26-28th of June in Copenhagen for Money20/20 Europe, one of the most exciting event where the Fintech world meet.

In this new emerging reality, collaboration is the key to survival. Money20/20 Europe is engineered to bring together all the stakeholders with a part to play in the commerce revolution: payments and financial services providers, banks and non-banks, the mobile ecosystem, the retail industry (offline and online), marketing services and data companies, investors, advisory firms and government bodies.

In its first year, Money20/20 Europe welcomed 3,725 attendees, including 500 CEOs, from 1,500 companies and 70 countries.

Fintech in Denmark: key figures

Denmark was ranked Europe’s most creative country in 2015 (Global Creativity Index).


NemID is the official digital signature for public digital services. Around 4.4 million Danish citizens and 1.1 million companies use NemID, and more than 50 million transactions currently take place on a monthly basis.


Finance and ICT total 5% of Denmark’s employment with a high concentration in Copenhagen, where the financial/IT sector makes up 13% of private employment.


83 M DKK were invested in Danish Fintech in 2015.


The past five years, 50 Fintech startups have registered themselves in Denmark.


Money2020 Europe At a glance

Over 3,000 of the top names in the industry, from CEOs of global institutions and founders of the world’s most disruptive startups are coming to Copenhagen.

 

You can see All speakers here

Why you should come?

For this year’s session, the #M2020EU / @money2020 is expected to be even bigger with an opening keynote from Jack Dorsey, CEO & Co-foudner of Square, a BBVA start-up pitch contest, parties and much more to be announced onsite!

The conferences will be conducted around key topics such as:

1/ The curious case of unbundling & rebundling in financial servcies

2/ Adventures in AI: Use cases in financial services

3/ Social Payments: Can banks dominate this space?

4/ Will AI replace the human analyst to prevent fraud?

5/ Post-truth banking and nasty FinTech

 

See the agenda for full event details


Techfoliance is glad to come to this event as a media partner. We will forward you with daily live news so that you can follow the best of Money2020 Europe if you did not have the chance to come directly to Denmark to attend the event.

Do not hesitate to contact us before if you want to manage a meeting with our team to share thoughts, become a contributor or pitch your Fintech to be featured on our media!

Interview with Boris Batine, CEO & Co-founder at ID Finance

0

During MoneyConf 2017, Techfoliance Team had the chance to meet with Top Fintech players and influencers.

Xavier Gomez, our Co-Editor in Chief, had the great pleasure of meeting Boris Batine, CEO and co-founder of ID Finance, a fast-growing international FinTech company specializing in data science, credit scoring, and online lending in emerging markets.


About Boris Batine

Boris Batine is currently CEO and Co-Founder of ID Finance.

Boris is an ex-banker and used to work for Deutsche Bank and Royal Bank of Scotland in debt capital markets where he held different positions. He also worked at Renaissance Capital, a leading investment bank focusing on emerging markets. He is a graduate of the University of Cambridge.


What is ID Finance?

ID Finance is a fast-growing international FinTech company specializing in data science, credit scoring, and online lending in emerging markets.

The company uses its proprietary IT infrastructure and risk management capabilities to develop innovative financial solutions and bring them into emerging markets. ID Finance global multibrand platform consists of three products:

Growth strategy

Boris Batine also explained that ID Finance was unique regarding its geographic location and its bet on emerging markets.

The company currently has offices in Russia, Kazakhstan, Georgia, Poland, Belarus and Spain – and is expected to grow further in the coming months as shown on the graph.

Compared to any other actors in the sector, ID Finance started with a mission to collect data in order to analyze and better manage mispayments, better define risk management and score clients in emerging countries. The team has built a core business with a proprietary scoring model and a sophisticated platform developed in-house.

The company recently announced its expansion into LATAM. In particular, in Brazil, a country with +125m internet users and +60m smartphone users, as well as a market worth a potential USD 7 billion. Other countries in the LATAM region that ID Finance would like to enter in the near future include Mexico, Colombia and Peru.

Ambition matrix

ID Finance is growing rapidly due to effective scaling strategy. The competitive advantage of ID Finance is a vision based on data and the ability to operate in complex countries in emerging markets.

 

In comparison with traditional banks, their biggest advantages are their powerful infrastructure as well as their large client and deposit bases. Downsides are that they need to generate additional revenue streams and implement digital banking solutions to remain competitive.

ID Finance is also planning to add more financial products to its offering:

“FinTech startups offer new disruptive products and are flexible but need new customers, funding and regulatory requirements. The best solution is for banks to cooperate with technology startups on the basis of the Banking-as-a-Service model via API-integration”, concluded Boris.

CFTE: the new EdTech platform for the finance industry

2

CFTE is building the education platform to equip finance professionals with a comprehensive understanding of the digital shift that is dramatically transforming finance.

Technology is transforming Finance and is having a huge impact on jobs. This impact is both threatening traditional jobs and creating new opportunities. CFTE wants to foster the latter.

What is CFTE?

CFTE utilises m-learning and adaptive learning technologies to deliver courses aimed at up-skilling finance professionals in a rapidly changing industry being transformed by emerging technologies. The curriculum is being designed with inputs from an exceptional advisory and academic board and through consultations with banking institutions, start-ups, Fintech experts, and technology leaders.

“Artificial Intelligence and automation are rapidly transforming finance, and have a huge impact on jobs. For finance professionals, this could be seen as a threat to their jobs, but we think that there are great opportunities for those who acquire the right skills.” according to Huy Nguyen Trieu, Co-founder of CFTE and CEO of The Disruptive Group

The first modules will go live in September and will incorporate online modules and in-class learning delivered by world-class experts. You can register HERE.

Who is behind CFTE?

CFTE is building a global network of academics and industry experts to design the curriculum and deliver exceptional content. The company was founded by Fintech expert and ex-bankers Huy Nguyen Trieu and Tram Anh Nguyen. Fintech experts Claire Calmejane and Janos Barberis joined as early board members of CFTE.

It also recently announced the nomination of five new board members, all with outstanding credentials who are world-renowned experts in their fields. Gillian Cribbs and Sylvain Kalache join the advisory board, while Prof Andrei Kirilenko, Prof Douglas Arner and Prof Karim Lakhani join the academic board. As a collective, the board will enhance CFTE’s capabilities to deliver on its mission to provide professionals with a lifelong education in finance.

Huy Nguyen Trieu, said:

“We are building a global platform to help finance professionals adapt to Finance 2.0. This has never been done before, and having the views of world-class experts from Hong Kong to London to Boston to the Silicon Valley will be extremely valuable to CFTE.”

[divider] Gillian Cribbs [/divider]

[tabs tab1=”Biography” tab2=”Mission”]

[tab]

Executive coach at the London Business School and former Management Editor of the Financial Times, Gillian Cribbs has an in-depth understanding of organizational dynamics and the central role people play in contributing to business success.

She runs her own firm, Credo Consulting, and is an experienced coach of Clevel leaders across a broad range of sectors and industries in Europe, the US, Asia, Middle East and Africa. She combines an outstanding ability to communicate complex messages about leadership and organisational development with a deep understanding of the challenges facing companies navigating technological disruption. In addition to LBS, she is an associate of Said Business School, Oxford, and IMD, Lausanne. Gillian is also an organisational psychologist and contributor to Harvard Online.

[/tab]
[tab]

Her involvement will ensure people remain the focus of CFTE’s mission to educate the next generation of finance professionals by emphasizing employability and lifelong learning.

[/tab]
[/tabs]

[divider] Prof Douglas Arner [/divider]

[tabs tab1=”Biography” tab2=”Mission”]

[tab]

Kerry Holding Professor in Law at the University of Hong Kong, Prof Douglas Arner has a unique knowledge of regulation and law in finance, both in Asia and at a global level. Andrei and Douglas will help CFTE with standards of academic excellence and provide insights into the impact of technology and regulation in finance.

Douglas Arner is an internationally recognised expert on financial regulation. He has worked with regulators in countries across Europe, Africa and Asia Pacific on issues relating to developing appropriate policy and regulatory environments for financial innovation, financial stability and economic growth. He has worked with the World Bank, Asian Development and European Bank for Reconstruction and Development on financial sector reform. At HKU, he co-founded the Asian Institute of International sFinancial Law as well as masters programmes on financial law and regulation.

[/tab]
[tab]

In looking to the future of finance, perhaps the greatest challenges will arise in respect of human capital. This is the core focus of CFTE, and I am very pleased to be part of this initiative

[/tab]
[/tabs]

[divider] Prof Andrei Kirilenko [/divider]

[tabs tab1=”Biography”]

[tab]

Director of the Centre for Global Finance and Technology at Imperial College London, Prof Andrei Kirilenko has developed an unparalleled understanding of how technology is impacting finance from his extensive experience as a scholar and regulator.

[/tab]
[/tabs]

[divider] Prof Karim Lakhani [/divider]

[tabs tab1=”Biography” tab2=”Mission”]

[tab]

Professor of Business Administration at Harvard Business School, Prof Karim Lakhani is at the forefront of crowd-sourced innovation and is a board member of Mozilla. He is also the Principal Investigator of the Crowd Innovation Lab and NASA Tournament Lab at the Harvard Institute for Quantitative Social Science and the Faculty co-founder of the Harvard Business School Digital Initiative.

In addition to academic acclaim, Lakhani has worked in sales, marketing and product development roles, giving him a well-rounded perspective of the practical applications of cuttingedge research to real world settings. Lakhani received his Ph.D. in management from the Massachusetts Institute of Technology, and his research has been published in leading academic and mainstream publications.

[/tab]
[tab]

Digital innovation and transformation is impacting all sectors of the economy and finance is at the forefront of this generational change. This transformation is impacting value creation, value capture and operating models of incumbent organisations and arming entrepreneurs with new opportunities. CFTE will be at the forefront of understanding the new skills needed to survive and thrive in this changing economic landscape.

[/tab]
[/tabs]

[divider] Sylvain Kalache [/divider]

[tabs tab1=”Biography” tab2=”Mission”]

[tab]

Co-founder of Holberton School, Sylvain Kalache is a school builder pioneering new models of education in Silicon Valley that aims to train and grow thousands of programmers. Together, Karim and Sylvain will be instrumental in building the CFTE platform and leveraging its technology and ecosystem to deliver new and innovative methods of teaching at scale.

Sylvain has extensive experience working in the software industry. Prior to Holberton School, he worked as a Software Engineer in Silicon Valley for a decade. In his first role, as a Site Reliability Engineer at the start-up SlideShare, he supported the infrastructure that served 3 billion slides every month, leading the company to be acquired by LinkedIn. He took over a Senior Software Engineer position at LinkedIn where he notably co-created the automation framework, Skynet. Sylvain’s experience provides him with a 360 view of the needs of the technology and business community.

[/tab]
[tab]

The next generation of successful companies will all be driven by Software innovation, the Finance industry is obviously part of this. In that context, it is critical to train the next generation of Finance professionals on Software skills, and most importantly to guide them into a lifelong learning experience. CFTE is aiming to this, and I am delighted to be part of it!

[/tab]
[/tabs]

“CFTE is a bold initiative to bring the right finance and business skills to emerging global leaders at the right moment in their careers. I have no doubt that it will act as a powerful catalyst for many individuals, organisations and businesses and am delighted to be joining the centre as it launches its first programmes”, said Gillian.

Overview of the Winners of the BNP Paribas International Fintech Hackathon 2017

0

The biggest Fintech Hackathon was held by BNP Paribas in 10 cities across the world to disrupt more than 20 business units within the bank.

More than 160 start-ups competed during 3 days to create the bank of the future. Here are the ones that have been selected to move forward for the co-working phase with the french bank:

[divider]WINNERS[/divider]

San Francisco

Saagie aims at bridging the gap between traditional IT and data science teams. The start-up helps large organisations to re-invent their business with agillity by leveraging Big Data and Artificial Intelligence (AI).

Finspace is a cloud based financial data platform. The company makes it simple and secure for businesses to share financial data with banks, lenders and other financial partners. Their goal is to help businesses leverage their data to acquire financial services and products as easily as they buy everything else.


Paris

wiGroup is a mobile transaction solutions provider with two core offerings; “wiCode”, a point-of-sale integrated, open and interoperable, mobile transaction platform, and “wiBlox”, an advanced suite of services which link mobile applications to mobile loyalty, rewards, vouchers, coupons and analytics functionality.

Serious Factory differentiates itself in the professional training market by offering educational solutions based on the idea of Immersive Learning. Their editing software gives companies the opportunity to develop their employees’ skills by working on the phase which is often missing in traditional training programs: the practice.

Q°emotion is a professional solution based on AI to detect people’s emotions. Their SaaS platform provides emotional analytics & predictions to help companies improve Customer Experience, Loyalty and Employees Engagement.

Vizir.co is a sales and marketing chatbot software. The start-up helps companies build smart chatbots hosted on popular IM apps so they can reach their targets and sell more.

SPIXII is rethinking the way we interact with our insurance companies and banks. The company has developed a chatbot that engages with customers at every step of the buying process. Powered by behavioural science and neuroeconomics, SPIXII’s returning the heart to the world of brokers and bureaucracy.

Visiblee is the ultimate lead gen automation solution to boost your B2B website conversion.

Celestory allows you to create a personalized mobile and web app rapidly and easily without the need to code.

Botmind is a B2B chatbot provider that is developing a Deep Learning technology to let companies interact with their customers.


Brussels

Manual.to is providing mobile manual technology to medium and large corporations, lowering their production costs and enhancing the customer user experience.

Smartbeam is a Construction-Tech startup lead by two Engineers who both come from the construction world. The company is Budget Estimating and Management Platform that centralises and streamlines the workflow from the preconstruction to the construction phase.

Kudujad.io is developing a new IoT platform which saves 80% of development time when launching a business which utilises IoT.

Smovin is a digital real estate assistant that helps landlords with the financial follow-up and administration of their tenants and properties.


Luxembourg

Tetrao is a technology start-up company specialized in Internet intelligent process automation. Its mission is enabling connections between people and businesses radically faster in an efficient and cost-effective way.

SnapSwap‘s mission is to build innovative financial products that allow consumers and businesses to participate in the global economy by bringing down barriers such as cost, complexity, and processing delays.

Budget Insight is an AIS (Account Information Service) that allows its clients to connect their applications to the bank of their users. Budget Insight also offers a PFM solution (Personal Finance Management App) for banks and insurance companies.


Rome

BB Boyz has developed BNL Boon, a plateform that offers its clients personalized strategies to help them achieve their goals.

Mendua is a marketplace for leasing.

SpidChain is a young team of experts in the field of cryptography and development of software enterprise solutions.

Bankon VR is a SaaS-based video collaboration start-up with fun and disruptive products. Their solution is a multi-channel, multi-industry platform that makes it easy for all professionals to augment their consumer interactions with video collaboration.

GoSherpy is the new app for saving real money towards people’s dream goals.


Berlin

Inspirient simplifies data analysis with artificial intelligence by automatically searching for insights in its clients’ business data.


Warsaw

Querona provides logical data warehouses, data virtualization and data analytics for agile BI. The company’s commitment to innovation resulted in development of software platform Querona™ that makes BI & Cloud & Big Data analytics work easier and faster.


Istanbul

Endeksa is Turkey’s independent real estate data center. The company provides all the required information users would like to get about the location of their houses. Users can also request an appraiser to visit their house to get the exact value.

Kiraplus is a leasing platform that makes real estate management and leasing transactions easier, faster and more reliable.


Singapore

Shentilium specializes in Artificial intelligence and data driven analytics for financial and e-commerce industries.

Good Atlas is a team of local experts that act as your virtual assistant. Their multi-lingual operators can take care of your tasks that might be more easily fulfilled in the local language, taking some of the friction out of your daily life.


Nanjing

4Paradigm is pioneering machine learning software in China. Founded by ex-Baidu R&D engineers, the 4Paradigm team were early pioneers of Baidu’s AI driven keyword anticipation feature and soon after joined China’s leading incubator to launch 4Paradigm.

Zhuge IO is the next generation of data analytic service for cross platform applications. ZhuGe focuses on the predictive models rather than the post analytics models, which is more actionable for product managers and operation/marketing manager to get things done to improve their targeted KPI(self-defined metric).