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InsurTech Rising International

By
Lea Servans
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0

Join INVYO next October the 7th-9th 2019 in Paris for Insurtech Rising International Summit, one of the most important summit in Europe addressing top trends in the insurance and tech industry.

For this new edition 2019, the Insurtech Rising International will gather more than 450+ attendees, 55+ investors and 120 insurtech coming from 33 countries around the world.

Insurance leaders are facing strategic and operational challenges and have to think about the new customer experience. 

Fintech in France: Key Trends

700 million people live in Europe versus 350 million in the US. Therefore, in terms of potential size, the European market is one of the biggest in the World. The main European markets are Germany, UK, Italy and France, which represent the far majority of the European premiums

Source: www.bankingtech.com

67,1% of traditional French insurers think that insurtech could remodel the “customer experience” unlike 91,7% of the founders of insurtech.

Source: capgemini.com

Almost 96% of traditional French insurers would like to collaborate with insurtech in the form of partnerships or “Solution-as-a-Service” (SaaS) models.

Source: capgemini.com

In Europe, Health insurance (€0.2 trillion) continue to attract companies and it is growing strongly at 3-4%. Therefore, local regulation needs to be taken into account.

Source: www.bankingtech.com

Insurtech Rising International At a glance

InsurTech Rising International is hosting the Insurance Cyber Risk Summit, the 7th of October in which different topics will be covered as Cyber insurance for SMEs or the collaboration between insurers and insurtechs in the growing cyber insurance market.

This event hopes to host more than 400 attendees, 23% of whom are C-levels. Among those C-levels, there are:

  • Bernard Spitz, President at Fédération Française de l’Assurance
  • Matteo Carbone, Founder & Director at IoT Insurance Observatory
  • Malgorzata Stys,CEO & Co-founder at dreyev
  • Julian Teicke,Founder & CEO at wefox Group

Why you should come ?

The conferences will be conducted around key themes such as:

  • How Smart Home will inspire insurance customers
  • How AI powered voice bots will improve customer service
  • Powering the future of commercial insurance through the use of insurtech
  • From health insurance provider to health solution enabler: the patient-centric future of insurance

  • Using artificial intelligence to transform commercial underwriting

Find the full agenda here https://bit.ly/2cMHiMF

Invyo 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 Insurtech Rising International if you did not have the chance to come directly to Madrid to attend the event.

Do not hesitate to contact us before if you have requests or if you want to manage a meeting with our team to share thoughts.

Payment solutions: comparative view on Pumpkin and Lydia

By
Lea Servans
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0

The French mobile payment market is getting into a fierce wrestling, with major players such as Paypal, Paylib, LyfPay, Tricount, Pumpkin and Lydia on the stage.

Globally, payment solutions have been modernized and reinvented by fintech startups, tech giants and banks, becoming one of the most mature sector and one that actually is profitable. Even ride-hailing companies like Grab are launching their own solutions.

How to differentiate yourself in such a crowded market? Some fintech start-ups bet on diversification. INVYO Insights would like to give you an overview of two prominent french payment solutions that were launched with the same vision but took two very different trajectories: Pumpkin and Lydia.

Companies’ ID

Pumpkin is a mobile application that allows spontaneous payments between friends.

Founded in 2014 by Constantin Wolfrom, Hugo Sallé de Chou and Victor Lennel in Lille, this French fintech offers its services only for users who have a French or Belgian phone number.

In 2017, Credit Mutuel Arkea acquired 80% of the company so as to add the payment solution to its product offering. According to the newspaper Le Monde, Pumpkin had more then 450 000 users at the end of 2018.

 

Lydia is a Paris-based fintech that initially provided a P2P mobile payment solution provides that since then moved to be a fully digital current account.

Created in 2011 by Cyril Chiche and Antoine Porte, Lydia expanded its activity in the UK, Spain, Portugal, Ireland and France.

Lydia has more than 2 million users in 2019, making it one of the most used app in finance in France.

 

Let’s now try to go deeper into details on how the two payment solutions differentiate from one another to gain more traction:

Case studies

🌟 Fee scheme

To gain more market share, Pumpkin and Lydia chose from day one not to charge fees on basic transactions.
Both make money on their premium offers: Pumpkin with its offering Pumpkin Business and Lydia through its offering Lydia Premium and Lydia Pro.

🌟 Diversification strategy

Pumpkin positions itself as a community-based payment company with the goal to make payments enjoyable and friendly between friends. Pumpkin’s target audience is 16-35 year-old digitial natives.
When it comes to Lydia, it seems to be more oriented on a full-wing bank, partly thanks to its additional services like pooled fund and lending. Lydia also targets the new generation but is collaboratying more with corporates like Casino to increase customer base.

🌟 Key partnership

Credit Mutuel Arkea acquired 80% of Pumpkin last 2017. The takeover was supposed to help the start-up diversify its activities to ultimately move to a Millenials’ to-be bank.

Lydia has partnered with Younited Credit to let users lend between €100 to €1,000, directly from the Lydia app. Users can send, wire or spend that money right away in any store or on the Internet. Lydia also provides a mobile phone insurance delivered in partnership with CNP Assurances.

🌟 Data security

With the Pumpkin app, all data are encrypted so as to be classified. There is also a password with 4 numbers that is required for each payment. Consumers’ personal data and transactions are protected by a platform that complies with the highest standards of banking and IT security (asymmetric RSA keys, 2048-bit data encryption, TLS1.2 communications).

Lydia offers online Mastercard with some provisional figures that change after one or several payment(s). Those one-off credit cards can be used for a single payment or for several online payments.

Invyo insights

🌟 Market coverage

Pumpkin is present in two countries: France and Belgium while Lydia operates in more countries: UK, Spain, Portugal, Ireland and France.

🌟 IT channels

Pumpkin is a mobile-only solution while Lydia provides both online and mobile solutions. Both Pumpkin and Lydia accept payments by QR code or contact sharing.

It appears that Lydia has much more options than Pumpkin: Virtual pay (Internet credit card), One-click payment, Apple pay, Google pay or Samsung pay.

Lydia also launched Lydia Premium for those who want to create virtual cards, link unlimited number of bank accounts to the app, make online pool without commission or even automate all their regular spendings.

🌟 Business-to-Business (B2B) approach

CompanyPumpkin BusinessLydia Pro
Pay by QR codeYesYes
Online payment on the firm's website or with the firm's link NoYes
Cash customers "face to face"Yes if they have the appYes if they have the app
Cash customers remotelyYes if they send a payment requestYes
Consult all transactions carried outYesYes
Scan tickets sold at the entrance of the company's eventsYesNo
Onlike ticket office for company's eventsYesNo
Export transactions in csv formatYesNo
Payments in instalmentsYesNo
Make Free questions, MCQ, uploads..YesNo
Guarantee deposits (total or partial withdrawal)YesNo
Easy Access to the firm's accounting (invoices)YesYes
Min/Max amount per transactionsNoYes: €0.5 - €1000
ObligationNo (except for partnership)Yes but it's an option:
several monthly packages starting at €19.99 which allow users to benefit from a very advantageous rate, up to 0.3% per transaction.
Monthly subscriptionNoNo
Pricing system For an event (excluding tax):
1.8% variable per ticket purchased
0.18ct of fixed price per ticket bought

For a cash "face to face" (excluding tax):
1% variable for mobile payment
0.10ct fixed per face-to-face transaction
0.7% for payments by QR code
1.5 % + 0,10ct for other means of payment

The first 10 QR code transactions of each month are offered (with a maximum of €600 amount)
Pumpkin Business allows firms or charities to set-up their box office which is not something that is delivered by Lydia.
What we see is that payment solutions start diversifying to gain more market share and attract new customers. The diversification strategy as seen above is slightly different between Lydia and Pumpkin.

Robo Investing is back to London for a new edition

By
Lea Servans
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0

Robo investing is kicking off in London next September the 9-11th 2019, one of the most important Digital Wealth Summit in Europe addressing top trends in the industry.

The Robo Investing event is expected to welcome more than 500 attendees and 75+ experts speakers from banks, fintech, wealth management and asset management so as to give you key information.

 

Fintech in the UK: Key Figures

UK fintech startups have hit a record level of $2.9 billion of funding in the first half of this year despite the Brexit’s media coverage.
Source: City AM

In terms of the number of deals, London fintech represented 78% of the UK’s total transactions.
Source: Finextra

Investors were more seduced by payments firms as Checkout.com, Worldremit and Gocardless raised a combined $481m in funding.
Source: City AM

Robo investing At a Glance

INVYO is glad to attend this event. During this three days, you will get an overview of the digital wealth landscape, have scaling advice and enjoy some workshop sessions.

This summit will gathers 500+ C-level executives, founders, and business heads from across the digital wealth industry including :

  • Jane Walshe, co-founder and CEO of Enforcd
  • Adam French, co-founder of Scalable Capital
  • Richard Peers, Senior Director, Financial Services Microsoft
  • Maria Jose Jorda Garcia, Head of Digital and Customer at Fundación Microfinanzas BBVA
  • Chris Williams, Head of Wealth Propositions at HSBC

JOIN INVYO 

✨ get 10% off with this discount code FKN2693INVW ✨

Why should you come ?

Robo Investing enables you to meet different seniors decision makers who are working in retail banks, digital platform, challenger banks, wealth management and other fields.

Through this event, speakers will cover a wild range of subjects as :

  • Financial Inclusion : the ability of those fintech to make the financial access easier
  • Cyber Regulation
  • The blockchain’s impact on asset management
  • The use of intelligent portfolios

For more topics, check agenda out here 👉 https://bit.ly/2Vy0OSi

 

Invyo Insights is glad to join the event as a partner. We will give you our insights so that you can follow the best of Robo Investing 2019 if you did not have the chance to come directly to Paris 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!

An overview of GAFAs recent moves in the finance industry

By
Lea Servans
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0

No need to introduce you the GAFAs anymore. But there is still one thing that is worth noticing which is the way the four tech giants have been positioning themselves in the finance industry over the last years.

Our research team went through some major announcement made by the tech giants to help you better understand what led them to take stakes in this old industry.

🔥 Creating fintech solutions

Facebook launched a new payment solution in Switzerland called the Libra Networks. This new project ambitions to provide various financial services in payments, data analytics and investment powered by the blockchain. However, according to the Wall Street Journal, Facebook is right now focusing on one crypto payment system called Project Libra.

🔥 Financing new comers

GAFAs have a lot of money to invest big amounts of money into new challengers which allow them to be positonned to compete with their peers in finance.

As an example, Amazon invested $12M in India-based insurtech Acko (Discover more about Acko 👉 https://www.acko.com/)

Another example is Alphabet, Google’s parent company, which led the $375M funding in the US insurtech company Oscar (Discover more about Oscar 👉https://www.hioscar.com/)

🔥 Adding more advanced solutions

Payment solutions

Google, Amazon and Apple have launched their own payment system (Google Pay, Amazon Pay, Apple Pay) but some of them recently decided to go one step further with more advanced payment solutions.

In 2017, Facebook made available a money transfer solution on Messenger (its chat app). More recently (as seen in our last Newsletter), Amazon created a credit card for the underbanked, that is to say for shoppers with no credit history or bad credit.

Apple also announced a credit card that will be available next summer. To create this card, Apple made a partnership with Goldman Sachs. This card will be linked with Apple Pay and a Wallet in your Iphone.

Spending Management

Wallet by Apple, is a solution that not only gives users a lot of details on their balance statement but also aggregates data from all other cards (store cards, credit card, student ID card, debit cards…). People can see their spendings and manage it in real time.

Crypto solutions

Facebook launched its own cryptocurrency libra. Several investors led a $10M investment into the solution such as Uber, Spotify, Paypal or Mastercard.

During the tech giant’s Worldwide Developers Conference, Apple announced the creation of Iphone CryptoKit which is a new framework to “perform cryptographic operations securely and efficiently”.

Bitcoin, through the lightning network, will soon be an option to pay on Amazon website thanks to the cryptocurrency payment processing company Moon.

Lending solutions

Amazon lending makes faster and easier short-term loans for Amazon Merchants.

🎁 Discover more about fintech HERE

 

Discover European AI For Finance 2019: the biggest AI forum in Europe

By
Lea Servans
-
1

Join INVYO next September 2019 the 3rd in Paris to attend European AI For Finance Summit at Palais Brongniart (Paris, France) which is organized by StartupInside and La Place Fintech. 

 

European AI For Finance At a Glance

This inaugural gathering will welcome senior executives and fintech’s CEOs who are driving strategic innovation in technology and giving some talks about their AI practices in financial sector.

 

European AI For Finance 2019 is expected to welcome 500+ C-Level attendees including :

  • Laurent Mignon, CEO Chairman of Groupe BPCE Management Board
  • Clémence Scottez, Head of the Economic sector department CNIL
  • Djamel Mostefa,Head of AI Orange Bank
  • Carlo Purassanta, President of Microsoft France

 

REGISTER NOW

HERE

Why should you come?

La Place Fintech and StartupInside organize this event.

INVYO is proud to join La Place Fintech and StartInside during this European AI for Finance’s first edition.

La Place Fintech is the new hub for innovation actors in financial sectors whereas StartupInside represents a huge ecosystem of experts in Open innovation, AI and Intrapreneurship operating to help Fortune 500 companies in their digital transformation.

Thank to those two founding members, the large attendance will cover miscellaneous topics.

The conferences will be conducted around key themes such as:

  • Augmented Insurance
  • Blockchain versus AI
  • Smart Trading to serve investment strategies
  • How does AI optimize fraud detection and enforce the cybersecurity ?

 

 

For more details about the event, click here 👉 https://bit.ly/2YN6u8L

 

Invyo Insights is glad to join the event as a data partner. We will forward you with daily live news so that you can follow the best of European AI for Finance Summit if you did not have the chance to come directly to Paris 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!

Weekly Fintech Radar: Monzo’s ID, latest funding, US launch and other news

By
Lea Servans
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0

Our platform Invyo Analytics daily tracks thousands of start-ups worldwide and allows companies to automatically monitor market trends and opportunities.

This week, our tool caught Monzo on its radar because of the latest exciting news surrounding the start-up. Here is a wrap up on what is happening right now around Monzo:

🌟 Monzo’s ID

Founded in 2015  by Tom Blomfield, Jonas Huckestein, Jason Bates, Paul Rippon and Gary Dolman, the London-based fintech Monzo is specialized in mobile banking services. As of to date, the company is primarly providing its banking solutions in the UK.

Having been granted with a UK banking licence back in April 2017, Monzo is authorized to provide its private clients with a credit card and a current account. Through its app, consumers can also check their spending and manage their savings.

Monzo is famous for being centered arount its community needs, being able to adapt quickly to match its customers interest. More recently, the company decided to address needs of other types of profiles: the Millenials (16-18 years old) and the Seniors in 2019. 

Find out more here 👉 https://monzo.com/

🌟 Key numbers

  • Over 2M users
  • 300+ employees
  • Valued at $2.5B
  • 40,000 new users open an account every week

🌟 Company Digest

News #1: the last fundraising

In June, Monzo received $130M from Accel Partners, General Catalyst Partners, Goodwater Capital, Passion Capital, LocalGlobe, Orange Digital Ventures, Stripe and Thrive Capital. The investment will fund its establishment in US.

News #2: the new adventure in US

Monzo is determined to enter new markets especially the US’s one. A part of its workforce has been already working in Los Angeles. However, the fintech wants to provide its services in the US and is ready to seduce American consumers. Meanwhile, Monzo is going to apply for the US banking licence so as to be “the bank of the future”.

News #3: Partnership with Transferwise

Monzo integrated UK cross-border money transfer fintech TransferWise into its app, which will enable the neobank’s customers to provide international transfer in 16 currencies.

2019 seems a highlight time for Monzo, which is valued at $2.5B after its recent fundraising, making the firm more expensive than its historical fiend Revolut.

🔥 We will soon update our report on the neobank landscape in Europe! 

🔍 Find out more about fintech start-ups HERE

 

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