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All eyes on Israel for the next Banking Disruption

By
Team Europe
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0

Join Techfoliance this March the 20th in Tel-Aviv for Go Fintech, the biggest Israeli Fintech event powered by Meda Conferences and Fintech-Aviv.

The Startup Nation continues to serve as a global ‎hub for innovation in the Hi-tech sector, specifically the FinTech vertical. The summit focuses on financial technologies and presents new solutions in the field, including discussions on the revolution being experienced in the industry these recent years and new technological developments. The event will bring you deep insights to know if this is the end of the banking era, or if the next wave of FinTech will successfully integrate different players in the long-term.

Fintech: key figures

The Startup Nation accounts for over 8 million people.

Israeli Startups generated over $4.5 Billion in funding.

Over 10% of the funding went to the growing FinTech ‎industry.

There are currently over 500 FinTech startups that reside in the country.

GO Fintech At a glance

GO FinTech provides a rich professional agenda, comprised of panel sessions with experts from the FinTech industry, as well as fascinating keynotes.

 

You can see All speakers here

Why you should come?

Attendees will participate in a full day of stimulating, interactive discussion and debate on the impact of disruption on finance and the economy as a whole. The conferences will be conducted around key topics such as:

1/ InsureTech

2/ The Future of Banking

3/ Blockchain and CryptoCurrency

4/ See the agenda for full event details

COME AND JOIN US

use the code TECHF and save 50 ILS off

Techfoliance is a supporting media organization. We will forward you with daily live news so that you can follow the best of GO Fintech if you did not have the chance to come directly to Tel-Aviv 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 in our media!

Israel: Interview with Nir Netzer and Tal Sharon, co-founders at Fintech-Aviv

By
Xavier Gomez
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0
Techfoliance_fintech startup Tel-Aviv_israel fintech nation

Techfoliance is back on the road to meet the Israeli Fintech community. We meet local experts and entrepreneurs to highlight emerging trends in the sector. Next stop: Tel-Aviv.

Many question marks remain regarding the ideation of seamless banking innovation. We decided to go and meet Fintech influencers and experts from Fintech-Aviv, the biggest community in Israel, to know more about the future of banking.

[divider] INTERVIEW [/divider]

XAVIER

FinTech innovations have led to a digital revolution which leads the path to both challenges and opportunities for traditional banking institutions.

How do you foresee the upcoming steps and what will be the next trends we will see appearing in banking?

NIR NETZER

We see many solutions – that were originally developed in order to disrupt banks – currently aligning with the banking industry. For example, many blockchain solutions are now here to stay, in spite of the uncertainty of this environment and the skepticism triggered when virtual coins first surfaced a few years ago. Why? Because banks are THE ‘early adopters’ and biggest blockchain researchers in the eco-system. So I would say that, in the near and mid-range of Future of Banking, we will see more applications based on blockchain. In addition, we will observe an improved deployment of more features such as Robo-Advisors, true NLP based chatbots and better customer engagement tools. As for the backend, we are witnessing ‘the big data revolution’, as banks are adopting big data and machine learning solutions and will (must) soon be leaving their archaic Legacy Systems behind.

XAVIER

Do you think that banks will keep on providing us the same services as they do today? Or maybe that some of the traditional banking features will no longer exist under the mandate of banks?

TAL SHARON

There is clearly a big trend, specifically on two verticals. Firsty, many off-banking alternatives in the money transfer industry have appeared over the past years, more cost effective and easier to use. Secondly, there is an operational shift among trading platforms and investments in Capital Markets. They can now be executed with methods that demonstrate higher yields. But it’s just a matter of time until millennials start trusting new and trendy trading apps, leaving their parents to deal with banks and traditional financial institutions. The same trend applies for lending. Many alternative solutions such as P2P lending platforms and smart lending engines are starting to take over. And they have the capacity to replace traditional banks loans.

XAVIER

Ok, you are sharing your view about the near future, but how do you see the end of it? How will banking look like in 20-30 years from today?

NIR NETZER

Mobile first, that’s the key. We are not sure yet what kind of futuristic mobile device our grandchildren will carry, but we can assume that it will probably allow them to execute any daily action -a sole device, one source of truth. As for banking, we are talking about a seamless, branchless, employee-less and – needless to say – paperless banking industry that will rely on many complimentary features that will serve the end client in a more holistic way – Savings, Investments, Wire Transfers, Digital Checks, Insurance, Pension, Mortgages and Capital Markets will be part of the same game, backed by deep data systems holding everything together. The Bank of the Future will have only IT people, that will keep on developing and implementing features for the benefit of the end client.

XAVIER

What about security? You mentioned one source of truth, isn’t it dangerous?

TAL SHARON

Definitely, but this is not a risk that can’t be handled; especially if we are talking on Blockchain-based systems. We see current Cyber developments that look like they belong to the future – for example gesture analysis solutions ensuring that the user is authorized to use the device and verifying ownership according to the way he handles his device – such as touch intensity, time it takes for a common command to be executed, and more. We see also many blockchain security apps and smart devices developed to protect our mobile phones as they constitute an entry point for hackers and pose a threat to the banking systems. As the Future of Banking is designed in light of the mobile first method, we will soon start to see a real revolution in this space, also Cyber-wise, with seamless protection layers to accommodate banking features.

XAVIER

So guys, will you help us better understand where we’re standing today? What phase of the revolution are we currently experimenting?

NIR NETZER

Seems that we have much to do, and much to learn. This space is still young but we have seen a robust and intensive progress made on this topic during the last couple of years. We share our professional views on the Future of Banking innovation with many banks and financial institutions, analyzing current and future innovation trends and best practices to integrate FinTech and Cyber solutions. We notice a global acceptance from the banks’ part to adopt innovation faster and we are glad to be in the core of this boiling eco-system – both locally in Israel and globally – it sure seems that some of the brightest FinTech ideation and innovation are coming from Israel and this definitely something to be proud of.

#CuriosiTech – Discover the 4 Best FinTech of the week: Float, Nova, Alloy and WeTrust

By
Team Europe
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0

Lendit USA, the biggest event in Fintech worldwide, will take place in New York next week. As a media sponsor, Techfoliance is very proud to introduce you its selection of the 4 Best Fintech of week that are among the 8 Pitchit finalists for 2017.

Float

Float is a US-based mobile-first financial service that offers consumers instant access to a line of credit that they can use with their existing debit card.

Discover here: https://hellofloat.com/

Nova

Nova is a US-based Fintech that has built the world’s first cross-border credit reporting agency. The company is revolutionizing the way immigrants share their data and enabling them to access the credit and rentals they deserve.

Discover here: https://www.neednova.com

Alloy

Alloy is a US-based Fintech that help companies make better decisions with better information, using a single API service and dashboard to manage identity verification from signup through the life of the customer.

Discover here: https://alloy.co/

WeTrust

WeTrust is a US-based Fintech that has built a collaborative savings and insurance platform, powered by blockchain.

Discover here: https://www.wetrust.io/

About Lendit USA

We’re very excited to be part of the world’s biggest show in lending and fintech, and encourage you to attend if you have not already registered. LendIt USA connects more than 5,000 attendees from over 40 countries to share ideas, network and learn the latest in all things lending and fintech.

Register here

 

Blockchain at Berkeley – Part II: The Mission

By
Nathan Sexer
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0

Techfoliance is proud to partner with Blockchain at Berkeley to promote the Blockchain technology and democratize its use on a wider scale.

Organizational Structure

Blockchain at Berkeley is comprised of three central departments. The first branch, Consulting, relies on qualified and knowledgeable individuals to accomplish complex industry-based projects. Currently, the demand for blockchain subject matter experts far exceeds the available supply. Their second branch, Education, is combating this lack of knowledge and ability head-on with the development of open-source courses and workshops. The third branch, Research and Development, strives to further establish a basis of knowledge through the development of internal projects and research initiatives. With this three-pronged approach, Blockchain at Berkeley aims to foster an ecosystem of knowledge, support for all levels of engagement, and solidify its role as a major hub of teaching and innovation in the blockchain space. 

What they do

Consulting

The mission of the consultancy is to help companies apply blockchain technology by providing clarity, identifying use cases, and integrating solutions. They can help develop a strategic approach to applying blockchain and advise on the different applications and possible implementation of the technology. They begin by customizing a workshop to inform companies about the future impact of blockchain technology on their organization and follow up with brainstorm sessions where they analyze the company’s problems. Utilizing their technical knowledge, they can then recommend the proper solutions and help develop POCs for the company.

Education

The education department has three divisions. First, they offer the Cryptocurrency Decal, at University of California, Berkeley. BAB teach a comprehensive set of relevant topics in cryptocurrency technology and the wider blockchain space in the course.

Second, the hands-on workshops are designed to help the students and the community deepen their practical knowledge of blockchain technology and its applications by developing on current blockchain protocols and practicing the consulting skills that are needed in order to advise in the space.

Lastly, the “Deep Dives” are intensive sessions where passionate developers from our organization get together to read papers on complex technical concepts and analyze them as a group.

Research and Development

The R&D department is responsible for delving into protocols, security, cryptography and computing by collaborating with professors and Ph.D. Students from UC Berkeley and other universities. Also, we help members with the guidance, coaching, and expertise that is needed to found their own blockchain startup through our relationship with the Sutardja Center for Entrepreneurship and Technology as well as experienced mentors.

Purpose & Value Proposition

Knowledge

Their education ecosystem provides a cohesive understanding of the industry, the challenges, and tools to be held in order to succeed in the blockchain space.

Experience

All members develop at least one project with real-life applications as well as a prototype showcasing their effort. During the course of working on their projects, they provide their members with resources, industry mentors, and funding in order to execute their project to meet the highest of industry standards. At the end of each project cycle, industry experts critique the teams and help turn their disruptive ideas into startups.

Opportunities

Given the shortage of dedicated blockchain developers, Blockchain at Berkeley provides students the opportunity to learn about Blockchain and Cryptocurrencies and work on real world projects, which they can display on their resumes and portfolios. This will give them the ability to work for blockchain companies or departments when they complete their educational journey.

Community

As a budding student organization, Blockchain at Berkeley is quickly becoming one of the most popular groups on campus, with over 150 members interested in cryptocurrency, blockchain fundamentals, and reshaping the world with novel solutions. Their powerful team of computer scientists, engineers, and business students are the driving force behind consensus innovation in the bay. Our organization offers a place where ambitious individuals can seek education, guidance, support, and a like-minded community. To keep our community engaged and incubate leading thought, BAB host weekly meetings for its members, monthly tech talks with industry experts, annual conferences, hackathons, and social events.

The organization is still looking for advisors, mentors, and professors, who are interested in supporting their cause.

Advisors who can help them with strategy and direction, mentors who are willing to dedicate 30min bi-weekly for project monitoring and industry quality control, and professors who are interested in initiating a research project – any professional interested in accompanying this fast-growing organization will be more than welcome!

Reach them at https://blockchain.berkeley.edu/

 

Mapping the Top Global Fintech Programmes

By
Team Europe
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15

You want to know more about Fintech? You are searching for Fintech related courses from top universities? This article is made for you.

The banking industry has moved very fast over the past years with the rise of the so-called Fintech start-ups. As a result, many universities started to add Fintech related courses or lectures to their programmes to educate their students – or at least prepare them – to the huge transformation happening in finance.

There is no doubt that the next generation of finance students could decide to choose one specific on- or off-line school because of the quality of its Fintech programme.

Techfoliance is introducing you its list of top Fintech courses, lectures and sessions available in universities across the world to both students and/or executives.

Global Fintech Programmes

Please keep in mind that this is not an exhaustive list. We invite you to add more universities or programmes to complete our existing list in the comments below:

Last update: 23 February 2017

LogoNameDescriptionTypeLanguageCountry
Massachusetts Institute of Technology (MIT)This MIT-backed online certificate course in fintech and future finance is designed to demystify the disruption by enabling students to understand, experience and build the future of transactions and commerce. Online courseEnglishWorld
University of CambridgeThe Cambridge Centre for Alternative Finance (CCAF) is a multi-disciplinary research institute established within Cambridge Judge Business School, University of Cambridge.Offline research programmeEnglishUnited Kingdom
The Wharton SchoolWharton Fintech offers speaker series, hands-on projects and panel discussions to engage students and professionals with the latest ideas, trends and developments in FinTech.LecturesEnglishUnited States
The University of Hong Kong (HKU)This course provides students with the empowering and practical knowledge on FinTech enabling them to understand some of the FinTech changes taking place currently in the financial services industry and, most importantly, the trends that will impact the industry in the future.Offline courseEnglishChina
ESCP EuropeThe course aims to bring together experts, CEOs and top-tier professionals, and senior Faculty to discuss leading edge Finance disruptions, digital innovations and solutions, followed by real-life experience and innovations. In collaboration with The FINTECH CircleOffline courseEnglishUnited Kingdom
Vlerick Business School (VBS)The FinTech bootcamp was the first of its kind ever held at Vlerick, aiming to study the impact of digital disruptors like PayPal and TransferWise on traditional banking models.BootcampEnglishBelgium
Oxford Said Business SchoolThe lectures series are curated by Huy Nguyen Trieu, CEO of The Disruptive Group and Resident Expert of the Entrepreneurship Centre at Oxford Saïd Business School.LecturesEnglishUnited Kingdom
Haas School of Business (UC Berkeley)The finance group at Berkeley-Haas reflects the Bay Area at large; it strives to be the global center of finance, technology, entrepreneurship and impact.Offline courseEnglishUnited States
NYU SternNYU Stern School of Business, known for its academic strength in finance, prepares students for future jobs in FinTech as the finance industry faces one of the most significant disruptions in its history.Offline courseEnglishUnited States
The Open UniversityThe online training course, FinTech 101: Understanding Financial Technologies, offers 50 hours of module-based learning and examines the origins of FinTech and its role in transforming the financial services landscape since the economic crash of 2008.Online courseEnglishUnited Kingdom
The University of StrathclydeThe MSc in Financial Technology will give students the financial, programming and analytical skills needed to help companies accelerate transactions and enhance security – and further establish Scotland’s position as a leader in financial innovation.Offline courseEnglishUnited Kingdom
University College London (UCL)The module introduces tools and techniques appropriate to starting a new venture in the Fintech (financial technology) industry.Offline courseEnglishUnited Kingdom
National College of Ireland (NCI)This interdisciplinary course will appeal to graduates of finance, computing and business seeking to enter the area of FinTech; and industry practitioners seeking to gain insightful experience and exposure to the FinTech domain and its associated areas.Offline courseEnglishUnited Kingdom
Brandeis UniversityThe 30-credit Digital Innovation for FinTech program provide students with a focused education surrounding fundamental topics in the field, while electives build upon specific professional skillsets and allow students to enrich and round out their studies.Online courseEnglishWorld
USC Marshall School of BusinessThrough this programme, students dissect emerging business models in alternative lending, equity raising, blockchain technology, payment solutions, as well as wealth and financial management services.Offline courseEnglishUnited States
Columbia Business SchoolIn this course, students will study innovation and entrepreneurship in the financial services industry in general, with a special focus on Financial Technology (FinTech), Private Equity, and Venture Capital. Offline courseEnglishUnited States
Tsinghua UniversityThe Fintech Lab is the first research entity dedicated to leading best practices, promoting interdisciplinary innovation, and encouraging entrepreneurship in the field of fintech through scientific research and innovative project incubation.Education LabEnglishChina
Duke University's Fuqua School of BusinessThis is not simply a course exploring transactions in bitcoin. The idea of the course is to understand a disruptive technology and to assess its implications on how business is conducted in the future.LecturesEnglishUnited States
ESILVESILV is the first school in France that have launched a Fintech course to educate its engineers to financial technologies (Blockchain, payments, security, etc.)Offline courseFrenchFrance
University of LuxembourgOver the course of the 2016-2017 academic year, it will feature three speakers from each of the three disciplines carrying out FinTech research at the University of Luxembourg – information technology, finance and law.LecturesEnglishLuxembourg
Singapore Management UniversityThis course aims to help the candidate understand what innovation is about and how to cultivate an innovative mindset and discovery of skills through hands-on exercises.Offline courseEnglishSingapore
UnowThe Fintech MOOC is the first 4-weeks online course dedicated to Fintech to help people better understand the digital transformation of the banking industry. In collaboration with the french organization Pole Finance Innovation.Online courseFrenchFrance
Wake-upThe first Fintech School in France to educate financial executives to the challenges and practices of the Fintech industry taught from top entrepreneurs.Offline courseFrenchFrance
Fintech UniversityFintech University brings light on the opportunities and challenges of the financial services industry. Created by the spanish bank BBVA.Offline courseEnglishWorld
University of NicosiaThe course is designed to provide an introductory understanding of decentralized digital currencies (cryptocurrencies) such as Bitcoin.Offline courseEnglishCyprus
The Certificate in Finance Technology (CFT)The CFT's constantly evolving, industry-led program makes it a great career tool that equips technology professionals with the skills and confidence to innovate and flourish as leaders.Online courseEnglishWorld
UdemyFintech Basics is a simple and short guide for fintech beginners uncovering basic fintech stuff.Online courseEnglishWorld
Blockchain UniversityBlockchain University combines robust academic instruction led by the most influential minds in the blockchain ecosystem with solution-oriented design thinking and hands-on experiential training.Offline courseEnglishUnited States
Fintech SchoolThe FinTech School offers online courses taught by industry experts for entrepreneurs and financial professionals. Courses focus on specific fields such as the Blockchain, Alternative Lending (P2P), Crowdfunding, and more.Online courseEnglishWorld

 

Key take-aways from Robo-investing Europe 2017

By
Gilles Mitteau
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0

Techfoliance was at Robo-investing Europe 2017 last 1st of February. Here is what you can take away from top experts and entrepreneurs who gathered to discuss the future of robo-advisors.

Robo investing is a very promising business, right? Well, not everybody agrees. Among all the conferences and presentations that we had the chance to attend during the robo investing Europe 2017 event, two discussion caught my attention.

How can we tell if Robo-advisors will be successful? By Andrew Power from Deloitte

The first one was a presentation by Andrew Power from Deloitte about the robo business and its promising future. How can we tell if Robo-advisors will be successful? Have you ever heard about the advice gap? Many people who want to invest their money, do so without professional advice. They ask a friend or a family member or simply do not request any advice at all. The gap between people who actually use professional advice before investing and the ones who don’t is called “the advice gap”. How does this relate to robo investing? Well, people do not get advice because obtaining it is complicated, expensive or both. Since Robo-advice is accessible and cheap at the same time, chances are that these unsatisfied potential clients will soon be using robo-advisors to invest their money.

Now, are we certain that this new clientele from the advice gap will be enough to sustain many robo-advisor companies? According to Deloitte, with a 75 basis points (0.75%) net fee and an average account of £35,000, a robo company could breakeven at £3Bn assets under management (AUM). The biggest robo-advisor in business is Vanguard which is currently managing £33Bn (figure from InvestorJunkie.com). However, Vanguard dwarfs all its competitors by far! Charles Schwab, Betterment and Wealthfront are still above the trigger but all the other robo-advisors are actually start-ups with only a few millions AUM. While Andrew Powers concedes that the robo business already gives a clear advantage to the incumbents since they have the brand and the customers, Deloitte believes that the competition will be fierce. In other words, yes, robo business is definitely part of the future but no, there will not be enough space for everyone to survive.

Don’t be so optimistic, robo-advisors target millennials! By Alan Miller from SCM Direct

This leads us to the intervention of Alan Miller, founding partner and fund manager of SCM Direct. Alan doesn’t share the optimism of Deloitte. For him, the 75bps net fee is actually not realistic. Robo-advisors average net fee is already at 50bps and with all the competition going on, there should be room to improve. The average account size should also be lowered from £35,000 to £12,000. Why? Because robo-advisors are targeting millennials who have much less money to invest. Taking these new parameters into account, to start making profits, a robo company would need to manage much more than £3Bn. On top of that, millennials represent only 5% of the asset management customers which leaves start-ups with a very narrow segment to compete for growth. Alan is also claiming that pursuant to his calculations, a start-up robo advisor should expect an 11 years’ time-frame before making a profit. SCM’s founding partner also pointed out that he found evidence of misleading performances, misleading fees and lack of appropriate regulatory permissions among the robo-advisor companies.

Conclusion

Even if the robo business seems very promising, there are still uncertainties, variables and challenges that need to be overcome before true automated asset management becomes part of our daily lives.

 

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