4 Key Themes Emerge during Fintech Rising Africa
Written by Freda Gray
"Having a bank account should be a birth right” says Wizzit Founding Director and CEO, Brian Richardson, one of the panellists and presenters at the recent Fintech Rising Africa conference.
Financial inclusion in Africa was just one of the key discussion points at the conference which took place in Cape Town on 7-8 December.
The nature of the event, a number of panel discussions and a smaller knowledgeable group, lent itself to active participation in many great discussions, focussing on all aspects of the fintech ecosystem. To top it all there were various excellent fintech solutions showcased.Read More. 4 Key Themes Emerge during Fintech Rising Africa
Matchi CEO speaks at KPMG Digital Summit
David Milligan addresses landmark gathering in Lagos
The digital and financial services industry have continued to show significant developments with the entry of new innovative technology solutions, emergence of new digital business models, increasing adoption of Fintech services and perhaps more conspicuously, growing local and international investments in technology innovation.
For discussions around these trends and on the theme ‘Leading through Digital’; on November 1, 2017, Lagos witnessed a landmark gathering of technology, digital and financial services thought leaders and professionals for the KPMG Digital Summit 2017. The summit which held in Eko Hotel, Lagos was a sequel to the 2016 KPMG Fintech Summit.Read More. Matchi CEO speaks at KPMG Digital Summit
Possible approaches to Fintegration within banking
Written by Terence Singh
The fundamental challenge of integrating fintechs with banks has been a lack of experience on both sides – banks are familiar with large scale implementations with technology companies that are themselves familiar with integration. These companies typically have teams dedicated to project managing these integrations. Small fintechs are generally resource constrained with little experience of dealing with large companies in terms of culture, compliance and other non-technical areas. As banks and insurers have come to realise that there are significant benefits collaborating with fintech solutions, several approaches are becoming apparent:
The first step in all cases though is one of assessment:
- Classifying fintech solutions according to degree of integration required. This requires an assessment of which areas in the bank will be impacted, which systems, compliance, regulatory etc. This will determine the level of integration required. For example, a data cleaning solution merely requires an anonymised data file which is enhanced by adding missing information (the file itself may not even leave the bank’s systems).
Key Take-Aways from Sibos 2017
4 Fintech Themes you should be exploring
Matchi CEO, David Milligan had a great experience at Sibos in Toronto. We picked his brain about what's hot on the fintech scene and here are his insights into this year's 4 key themes.
1. Fintech Collaboration
This is very much the space in which the Matchi team plays, so it was great to see a strong focus on the theme of collaboration at this year's Sibos event. Highlighted for me were multiple presentations by banks alongside the fintech firms they had collaborated with to release new solutions including Wellington Holbrook, Chief Transformation Officer at ATB Financial (and our previous client) with Finn.ai who presented their journey as partners in transformation. I also really enjoyed the presention by Bipin Sahni, Executive Vice President and Head of R&D at Wells Fargo on why startups and financial institutions need each other. Ruby Walia, Head of Mobile and Online Bank at TD bank also presented a really insighful and interesting overview of their year long collaboration with Flybits.
KPMG Pulse of Fintech, Q3 2017
Global fintech investment remains robust on back of strong VC funding
Total global fintech funding continues to remain strong, with US$8.2 billion invested in Q3’17, after more than doubling to US$9.3 billion in Q2, according to KPMG's most recent Pulse of Fintech report, Q3 2017.
Although deal volume declined, Q3’17 investment stood well above the US$6.3 billion raised in Q3’16. Venture capital (VC) investment in fintech in Q3’17 saw a five quarter high of US$3.3 billion, although the total was well shy of the record US$7.4 billion raised in Q3’15.
The US led global fintech investment in Q3’17, with US$5 billion deployed across 142 deals. Europe and Asia lagged considerably behind the US, with Europe fintech deals accounting for US$1.66 billion of investment across 73 deals, and Asia accounting for US$1.21 billion across 41 deals.
Despite healthy investment activity, the volume of VC fintech deals dropped dramatically in Q3’17, particularly at the earlier deal stage. The number of angel and seed stage fintech deals plummeted to 67 for the quarter, a low not seen since Q1’13. This reflects the trend of investors focusing on larger deals and higher quality companies with proven business models.
FRS Labs and Silent Eight win Fintech Abu Dhabi Global Innovation Challenge
Both winners to demo at Singapore Fintech Festival
FRS Labs (India) and Silent Eight (Singapore) have been announced as the two winners of the FinTech Abu Dhabi (FinTechAD) Innovation Challenge 2017.
Huge congratulations to both firms who will now travel with the ADGM Fintech team to the Singapore FinTech Festival where they will demo live on 16 November 2017.
FRS Labs and Silent Eight were both shortlisted (along with 9 other global fintech firms) from 166 applications to the innovation challenge which ran on on the Matchi portal earlier this year.Read More. FRS Labs and Silent Eight win Fintech Abu Dhabi Global Innovation Challenge
Forging the Future: KPMG global fintech report
Fintech seen as the biggest disruptor for financial institutions
As emerging technologies disrupt traditional financial services value chains, many institutions are lagging in implementing effective strategies, according to Forging the future: how financial institutions are embracing fintech to evolve and grow – a new report from KPMG that surveys more than 160 financial institutions in 36 countries.
Fintech strategy challenges
Addressing the organizational response to fintech is proving challenging to many institutions. Only 46 percent of respondents say their institution has a clear fintech strategy in place, with 42 percent indicating a strategy is in development and 10 percent having no fintech strategy at all. Of those with a strategy, only 47 percent believe it is well aligned with the challenges posed by fintech.
Game-changing solutions to be showcased at FinTech Abu Dhabi
11 fintech solutions were shortlisted from 166 applications
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, in collaboration with KPMG shortlisted 11 outstanding global Fintech firms to demo live at the upcoming Fintech Abu Dhabi Summit where they will compete for the ultimate prize.
Overcoming stiff competition from 166 applicants who all entered the Global Innovation Challenge run by KPMG Digital Village and Matchi, the 11 successful companies come from a number of different countries including Singapore, India, Hong Kong, China, Canada, UK and UAE.Read More. Game-changing solutions to be showcased at FinTech Abu Dhabi
MAS Announces Finalists for the Global FinTech Hackcelerator
20 Fintech firms have been shortlisted
The Monetary Authority of Singapore (MAS) today announced the finalists for the 2017 Global FinTech Hackcelerator.
In May 2017, MAS published a catalogue of 100 problem statements gathered from the financial industry and invited the global FinTech community to develop new and innovative solutions to any of the problems for the Global FinTech Hackcelerator. The problem statements were grouped into 4 categories: Customer-Facing, Financial Inclusion, RegTech, and General.Read More. MAS Announces Finalists for the Global FinTech Hackcelerator
Qumram, Microblink and Beagle.ai Demo Live at CRO Roundtable, Sydney
3 winning fintech solutions delight 60 Chief Risk Officers from Australia's top banks
Qumram, Microblink and Beagle.ai were selected as the three ultimate winners of the Risk Management Association of Australia's (RMA) Showcase Opportunity with KPMG and Matchi. As part of their prize, all three fintech firms were flown to Sydney to demo their winning solutions at the annual CRO Roundtable event on 12 September 2017.Read More. Qumram, Microblink and Beagle.ai Demo Live at CRO Roundtable, Sydney
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1. ADGM and KPMG launch FinTech Abu Dhabi Innovation ChallengeADGM and KPMG launch FinTech Abu Dhabi Innovation Challenge
2. Trust as a Fintech CommodityTrust as a Fintech Commodity
3. Pitch Your Solution to 40 Chief Risk Officers from Leading Australian BanksPitch Your Solution to 40 Chief Risk Officers from Leading Australian Banks
4. Crowdfund your Fintech: The Art of AskingCrowdfund your Fintech: The Art of Asking
5. Winner Announcement: BankTech Asia Fin5ive Challenge 2017Winner Announcement: BankTech Asia Fin5ive Challenge 2017
6. Winner Announcement: Customer Onboarding Global Innovation Challenge by ATB FinancialWinner Announcement: Customer Onboarding Global Innovation Challenge by ATB Financial
7. Meet Matchi CEO - David Milligan at Money 2020 EuropeMeet Matchi CEO - David Milligan at Money 2020 Europe
8. Shortlist Announcement: Customer Onboarding Global Innovation Challenge by ATB Financial Shortlist Announcement: Customer Onboarding Global Innovation Challenge by ATB Financial
9. Fintech is turning banking into a fine artFintech is turning banking into a fine art
10. Global Fintech Hackcelerator 2017 is open for entryGlobal Fintech Hackcelerator 2017 is open for entry
11. BankTech Asia Launches Global Fintech ChallengeBankTech Asia Launches Global Fintech Challenge
12. KPMG Fintech is the new home for MatchiKPMG Fintech is the new home for Matchi
13. Collaborating with a Tech Firm? Consider this.Collaborating with a Tech Firm? Consider this.
14. Matchi attends BankTech Asia event in Sri LankaMatchi attends BankTech Asia event in Sri Lanka
15. Bankchain: Explore, Build and Implement Blockchain SolutionsBankchain: Explore, Build and Implement Blockchain Solutions
16. Meftech 2017: Manufacturing Financial ServicesMeftech 2017: Manufacturing Financial Services
17. ATB Financial launches Customer Onboarding Innovation ChallengeATB Financial launches Customer Onboarding Innovation Challenge
18. Matchi heading to BankTech Asia in Sri Lanka, 21-22 March 2017Matchi heading to BankTech Asia in Sri Lanka, 21-22 March 2017
19. Top 4 Focus: KPMG East Africa’s 2nd Annual Insurance ConferenceTop 4 Focus: KPMG East Africa’s 2nd Annual Insurance Conference
20. 10 Firms to Watch: Meftech 2017 Fintech Pavilion10 Firms to Watch: Meftech 2017 Fintech Pavilion
21. Exhibiting at a fintech conference? We can help you thrive.Exhibiting at a fintech conference? We can help you thrive.
22. Matchi to speak at 2nd Annual KPMG Insurance Conference in KenyaMatchi to speak at 2nd Annual KPMG Insurance Conference in Kenya
23. Matchi partners with prestigious fintech event in Abu Dhabi Matchi partners with prestigious fintech event in Abu Dhabi
24. Matchi collaborates with Seamless Africa to deliver fintech edgeMatchi collaborates with Seamless Africa to deliver fintech edge
25. Free Matchi Webinar - Join our Live Lunch with KPMG InsuranceFree Matchi Webinar - Join our Live Lunch with KPMG Insurance
26. Matchi speaks at the 7th Annual Insurance Technology Summit in MumbaiMatchi speaks at the 7th Annual Insurance Technology Summit in Mumbai
27. Three solutions win Proof-of-Concept projects within Mahindra FinanceThree solutions win Proof-of-Concept projects within Mahindra Finance
28. Master Discussion: Fintech Proof of Concept ImplementationMaster Discussion: Fintech Proof of Concept Implementation
29. BankTech Asia Fin5ive winners demo live in Kuala LumpurBankTech Asia Fin5ive winners demo live in Kuala Lumpur
30. BankTech Asia Fin5ive Challenge Winners AnnouncementBankTech Asia Fin5ive Challenge Winners Announcement
31. Mahindra Finance Launches Global Fintech ChallengeMahindra Finance Launches Global Fintech Challenge
32. Canadian Institute Fintech Challenge - Winners AnnouncementCanadian Institute Fintech Challenge - Winners Announcement
33. Opportunity to exhibit and demo at KPMG Nigeria Fintech Summit 2016Opportunity to exhibit and demo at KPMG Nigeria Fintech Summit 2016
34. Canadian Institute launches Global Fintech Challenge with MatchiCanadian Institute launches Global Fintech Challenge with Matchi
35. BankTech Asia Launches Global Fintech Challenge BankTech Asia Launches Global Fintech Challenge
36. Liberty Fintech Challenge 2016: Winners AnnouncementLiberty Fintech Challenge 2016: Winners Announcement
37. 5 Marketing Tips for Fintech Startups5 Marketing Tips for Fintech Startups
38. Matchi Mid-Year Review 2016 - InfographicMatchi Mid-Year Review 2016 - Infographic
39. Fintech in East Africa - Pioneering a different roadFintech in East Africa - Pioneering a different road
40. Proof-of-Concept projects that workProof-of-Concept projects that work
41. Top 5 things keeping Matchi FI Members awake at nightTop 5 things keeping Matchi FI Members awake at night
42. Matchi CEO to speak at Money Expo, 8-9 July 2016Matchi CEO to speak at Money Expo, 8-9 July 2016
43. Logical Glue Wins SME FinTech Challenge 2016Logical Glue Wins SME FinTech Challenge 2016
44. Matchi Co-Presents 'FinTech In India' ReportMatchi Co-Presents 'FinTech In India' Report
45. Liberty Launches Global FinTech Challenge with MatchiLiberty Launches Global FinTech Challenge with Matchi
46. Matchi Joins FinTech Market Leaders at MEFTECH 2016 Matchi Joins FinTech Market Leaders at MEFTECH 2016
47. Matchi partners with Dot Finance Africa, 4-5 May, NairobiMatchi partners with Dot Finance Africa, 4-5 May, Nairobi
48. Matchi to present at InPayCo, TorontoMatchi to present at InPayCo, Toronto
49. iProov wins the FinTech Innovation Challenge by SonyiProov wins the FinTech Innovation Challenge by Sony
50. Matchi Partners with MEFTECH 2016Matchi Partners with MEFTECH 2016
51. Announcement Top 6 Entries: Fintech Innovation Challenge by SonyAnnouncement Top 6 Entries: Fintech Innovation Challenge by Sony
52. Mystery Bank launches SME Fintech Innovation Challenge with MatchiMystery Bank launches SME Fintech Innovation Challenge with Matchi
53. KPMG hosts the 2nd Annual Matchi Innovation Summit in LondonKPMG hosts the 2nd Annual Matchi Innovation Summit in London
54. Matchi and KPMG to present at Retail Banking Innovation ConferenceMatchi and KPMG to present at Retail Banking Innovation Conference
55. Join us at the Future of Digital Banking - Asia PacificJoin us at the Future of Digital Banking - Asia Pacific
56. KPMG FinTech Innovation Challenge WinnersKPMG FinTech Innovation Challenge Winners
57. 索尼的FinTech Innovation Challenge索尼的FinTech Innovation Challenge
58. The FinTech Innovation Challenge by SonyThe FinTech Innovation Challenge by Sony
59. The FinTech Innovation Challenge by SonyThe FinTech Innovation Challenge by Sony
60. KPMG launches FinTech Innovation Challenge with MatchiKPMG launches FinTech Innovation Challenge with Matchi
61. African Fintech Showcase at Standard Bank InnoWeek 2015African Fintech Showcase at Standard Bank InnoWeek 2015
62. Should Banks Use Matchi To Strike Up New Relationships?Should Banks Use Matchi To Strike Up New Relationships?
63. Future of Fintech - The Art of CollaborationFuture of Fintech - The Art of Collaboration
64. Liberty confirms 2 POC Projects with Matchi Innovator MembersLiberty confirms 2 POC Projects with Matchi Innovator Members
65. Matchi Fintech ChallengesMatchi Fintech Challenges
66. African Fintech Innovation Challenge 2015African Fintech Innovation Challenge 2015
67. Liberty InsuranceTech Innovation Challenge 2015Liberty InsuranceTech Innovation Challenge 2015
68. Matchi featured in the Australian Financial ReviewMatchi featured in the Australian Financial Review
69. Matchi - Financial Times features Matchi, 30 August 2015Matchi - Financial Times features Matchi, 30 August 2015
70. KPMG Forms Exclusive Alliance with MatchiKPMG Forms Exclusive Alliance with Matchi
71. Matchi sponsors Global Summit for Insurance InnovationMatchi sponsors Global Summit for Insurance Innovation
72. Matchi Launches New Insurance CategoryMatchi Launches New Insurance Category
73. 3 Innovator Members awarded POC Projects3 Innovator Members awarded POC Projects
74. Barclays Africa Business Banking Challenge - FinalistsBarclays Africa Business Banking Challenge - Finalists
75. Matchi joins Sponsors of Citi Mobile Challenge 2015Matchi joins Sponsors of Citi Mobile Challenge 2015
76. Matchi joins the Forefront of Fintech at Rakuten Financial Conference, JapanMatchi joins the Forefront of Fintech at Rakuten Financial Conference, Japan
77. Barclays Africa Business Banking ChallengeBarclays Africa Business Banking Challenge
78. Top 5 Tips to make your Matchi Innovation stand outTop 5 Tips to make your Matchi Innovation stand out
79. Matchi Innovation Sponsor Summit 2014Matchi Innovation Sponsor Summit 2014
80. Standard Bank FinTech Innovation Showcase with Matchi.bizStandard Bank FinTech Innovation Showcase with Matchi.biz
81. Fintech Startup Winners will Emerge in 2015Fintech Startup Winners will Emerge in 2015
82. A Chat With Paul Steenkamp Of Standard BankA Chat With Paul Steenkamp Of Standard Bank
83. Your bank doesn’t suck – The 2014 Matchi Global Fintech Innovation ChallengeYour bank doesn’t suck – The 2014 Matchi Global Fintech Innovation Challenge
84. FinovateFall 2014 Conference VideoFinovateFall 2014 Conference Video
85. Matchi Global Fintech Innovation Challenge WinnersMatchi Global Fintech Innovation Challenge Winners
86. Matchi Global Fintech Innovation Challenge 2014 - TOP 20Matchi Global Fintech Innovation Challenge 2014 - TOP 20
87. You’re invited to register for the Citi Mobile Challenge 2014!You’re invited to register for the Citi Mobile Challenge 2014!
88. Matchi presents at New Finance, San FranciscoMatchi presents at New Finance, San Francisco
89. George Osborne launches Innovate Finance trade body at Canary WharfGeorge Osborne launches Innovate Finance trade body at Canary Wharf
90. New Matchi Sponsor - Bank HapoalimNew Matchi Sponsor - Bank Hapoalim
91. London FinTech Podcast - Interview with our Warren Bond London FinTech Podcast - Interview with our Warren Bond
92. Santander launches $100m fintech venture fundSantander launches $100m fintech venture fund
93. Standard Bank joins Exclusive Matchi Sponsor CommunityStandard Bank joins Exclusive Matchi Sponsor Community
94. Join a new project on the disruptive shifts in financial servicesJoin a new project on the disruptive shifts in financial services
95. Fin-tech matchmaking leading to new loveFin-tech matchmaking leading to new love
96. Gmaven had a successful innovation match-makeGmaven had a successful innovation match-make
97. London becomes Europe's Fintech CapitalLondon becomes Europe's Fintech Capital
98. Stordoc – Banking on a New Innovation Matchmaking PlatformStordoc – Banking on a New Innovation Matchmaking Platform
99. Matchi at Finovate Europe 2014Matchi at Finovate Europe 2014
100. Matchi announces exclusive sponsorship deal with CaixaBank at FinovateEurope 2014Matchi announces exclusive sponsorship deal with CaixaBank at FinovateEurope 2014
101. Matchi launches Innovation Matchmaking PlatformMatchi launches Innovation Matchmaking Platform