Trend briefing on information security
When it comes to banking, compromising or breaching of client information is potentially one of the highest risk areas for both individuals and companies. Personal information that is compromised could lead to fraud and financial loss, as well as third-party control over financial affairs, while banks themselves are subject to huge reputational risk and regulatory risk in allowing breaches of information. However, there are other significant consequences apart from financial loss.
View: Trend briefing on information security
Matchi Master Discussion: Switching Innovation "On"
As the pace of change continues to accelerate, it is becoming more important for organizations to switch on their culture of innovation to achieve long-term success. As emphasised in the Workplace of the future report (https://home.kpmg.com/xx/en/home/insights/2009/08/frontiers-in-finance.html), creating an innovation culture is not a project or a task. Innovation culture is a by-product of broader business decisions. For this reason, leadership has the most critical role in sparking cultural change and encouraging that change to flourish over the long term. Looking at trends, we estimate 70 percent of the impact to culture comes from leadership decisions, guidance and modelled behaviours, while the remaining 30 percent is driven by elements such as training and engagement programs.
View: Matchi Master Discussion: Switching Innovation "On"
Smart Start Awards 2018
Winners and insights from the 2018 KPMG Smart Start Awards
The KPMG Smart Start Award 2018 – FinTech and InsurTech recently took place in Hannover, Germany. As an initiative of KPMG Germany, in collaboration with the NORD/LB, the VHV Group and Dieter von Holtzbrinck Ventures, the challenge aims to identify and empower emerging start-ups from around the world. We chatted to organisers Felix Haarstick and Marilena Meinecke from KPMG Innovate, about the winners, the event and the benefits for all involved.
MAS Hackcelerator at Global Fintech Festival
2018 Global Fintech Hackcelerator winners
Congratulations to the winning tech companies of the Global Fintech Hackcelerator 2018 challenge, announced this November by the Monetary Authority of Singapore (MAS) at the third annual Singapore FinTech Festival. The three winning companies are BetterTradeOff Pte. Ltd., Billion Group Ltd. and Mosabi.
The winners were selected from a group of 20 finalists who presented their solutions at the Global Fintech Hackcelerator programme’s Demo Day on the first day of the Singapore Fintech Festival. The challenge, powered by KPMG Digital Village, was a 12-week programme that matched innovative market-ready solutions from around the world with problem statements from the financial industry. KPMG Matchi provided the challenge application system for Hackcelerator applicants to enter.
Abu Dhabi Innovation Challenge
Insights from the 2018 Fintech Abu Dhabi Innovation Challenge
Abu Dhabi Global Market (ADGM) and KPMG came together in 2017 to launch the Fintech Abu Dhabi Innovation Challenge. The event aimed to enable start-ups to access industry-leading solutions to address emerging business challenges in the financial services industry, with 156 fintech companies from around the world shortlisted to address 15 problem statements. The 2018 event built on the success of the inaugural challenge and focused on technology adoption as the key to effective fintech. Matchi once again provided the entry mechanism and helped to assess and shortlist successful applicants and their solutions. We spoke to Umair Hameed, Partner for Financial Services at KPMG Lower Gulf, about the lessons and themes from the 2018 Fintech Abu Dhabi Innovation Challenge:
How tech firms can present themselves more effectively to FIs
Lessons in presenting your tech solution to corporates
LFollowing a project undertaken by KPMG Matchi and KPMG Nigeria, sourcing potential fintech solutions for a large financial institution, we spoke to Yusuf Sheriff, Senior Associate at KPMG Nigeria, about lessons for tech providers. He talked us through some tips and advice for solutions providers looking to attract interest from large corporates:
Yusuf notes that one of the hardest things for technology companies to get right when presenting their solutions to corporates is to speak about their offerings in an accessible way. It’s tricky to explain the solution without getting very technical, but he advises focusing on showing that the solution is fit for purpose. “Instead of focusing on how your solution does what it does, focus on what is does – that’s what will interest businesses,” he suggests.
Trend Briefing on Fintech for SME Finance
Small and Medium-sized Enterprises (SMEs) are globally acknowledged as a key success factor to grow the economy and reduce unemployment. The ability of SMEs to grow sustainably is dependent on their capacity to access finance, which has traditionally been the domain of commercial and retail banks. However, these institutions’ credit models are generally predicated on a history of banking behaviour and the extent of collateral – therefore SMEs, which may not have lengthy banking histories or collateral, are perceived as high-risk. SMEs are generally growth driven and therefore require banks to take an investment view, and not a credit view, of their business. The gaps between funders and SMEs are amplified for start-up businesses, which by their nature are already a high risk. This impasse between financial institutions and SMEs has led to a significant bottleneck to the growth of the economy.
View: Trend Briefing on Fintech for SME Finance
Experiences of Frankfurt from an emerging technology business’s perspective
Located in Frankfurt, TechQuartier provides access to a valuable network of start-ups, corporates, investors, talents and mentors. One of its programmes is Landing Pad, which aims to help selected companies to discover Frankfurt as Germany's fintech hub over the period of one week. The programme offers a guided exploration of Frankfurt’s ecosystem, with direct channels to relevant markets, investors, and industry experts. Agile Automations took part in the 2018 programme, and we spoke to CEO Martin Keelagher about the experience, benefits and lessons he garnered. Here’s what he had to say:
View: Experiences of Frankfurt from an emerging technology business’s perspective
Technological disruption finally reaching bond markets
AEquity markets were one of the first banking sectors to experience disruption, which arrived in the form of new fintech entrants. These ranged from electronic trading platforms to robo-advisors. The bond market, however, has seen far fewer technological advancements and has remained characterised by old-fashioned methods of trading “over the phone” with little transparency. That is starting to change.
Electronification of bond trading platforms is a growing trend, starting with the larger government debt markets but starting to slowly feed into municipal and corporate bond markets too. One of the distinguishing features of the bond market is that companies generally only issue one stock but may have several bonds, all with different features. This, coupled with the large volumes catering solely for institutional and not retail markets, makes it harder to analyse bond markets.
View: Technological disruption finally reaching bond markets
Exploring Japan’s Fintech Sector
Impressions from Matchi CEO, David Milligan
Matchi CEO David Milligan recently travelled to Tokyo, Japan, to meet with various corporations, banks, trading houses, fintech firms and government organisations. His aim was to understand the emerging technology landscape in Japan, to learn from the people he met about their thinking on fintech, mobility and regtech developments, and to share with them KPMG and Matchi’s global capabilities in sourcing these sorts of technology solutions. He was also invited by the Australian embassy to speak at a seminar on trends in global fintech, especially around funding and the most noteworthy themes emerging in 2018.View: Exploring Japan’s Fintech Sector
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