Activating Fintech in Twenty Great-Teen!
Written by Sashreka Pillay
I have to admit: I am much older than I’d like to give myself credit for. This was made strikingly clear to me when, on my first day back at work after a restful festive reprieve, the term “Twenty GREAT-Teen” wafted out of the radio and caught my attention. It had to be repeated twice before I got it right– and that’s not just because of my failing hearing.
The term sounds almost desperately positive but got my mind stewing over what, exactly, would make 2018 “Twenty GREAT-Teen”. Don’t worry I’m not launching into a list of my top ten goals/trends. I’m quite to the collar with those and trust you are too. I would rather throw out a challenge:
Could we find ways to accelerate the actual implementation and roll out of fintech solutions to the end customers this year? I ask this not without recognising the already incredible strides we’ve achieved in fintech as an industry.Read More. Activating Fintech in Twenty Great-Teen!
Webinar: 2018 Digital Insurance Predictions
Don't miss the live discussion on Tuesday, 23rd January 2018, 9am (UK time)
Join Matchi CEO, David Milligan and other top industry Thought Leaders for this 90 minute special edition webinar on 2018 Digital Insurance predictions including the hottest trends, themes and companies to watch!
The webinar will be an open panel discussion between The Digital Insurer’s and KPMG’s top Thought Leaders in the space. Expect plenty of debate, diverse views from a global panel and lots of opportunities to ask the panel questions.
The agenda will look at four topics including Digital Business Models; Value Chain Innovations; Tech Enablers & People and Organizational Design. This is sure to be a popular webinar so register early to guarantee your place.
By participating live you can help to shape the panel questions and also participate in four live polls. Registered participants who are unable to attend will be emailed a link to the recording of the webinar.Read More. Webinar: 2018 Digital Insurance Predictions
H2 Ventures KPMG Fintech 100
The Fintech 100 showcases the world's leading established and emerging firms.
A collaboration between KPMG Fintech and Fintech investment firm, H2 Ventures, the 2017 Fintech 100 features the leading 50 'Established' fintech companies across the globe, as well as the most captivating 50 'Emerging Stars' – exciting new fintechs with bold, disruptive and potentially game-changing ideas.
The Fintech 100 demonstrates the acceleration of the disruption taking place in the global financial services industry, with more capital being invested around the world in startups and established ventures that are creating new financial products and solutions.
While China fintech continues to dominate with first, second and third place held by Chinese tech firms, global adoption of fintech innovation continues to accelerate, with 29 different countries represented, up from 22 countries in 2016. In 2017, we saw the financial services industry becoming an interconnected ecosystem, with innovators working with global financial institutions.Read More. H2 Ventures KPMG Fintech 100
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.
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