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<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" version="2.0"><channel><title>European Fintech News</title><description>european fintech news</description><link>https://fintechnews.eu</link><item><title>Digital Banking Strategies Prioritize Refinement of Existing Products and Super Apps</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFollowing a period of rapid digital innovation, the global digital banking market is now maturing, shifting from developing and implementing new features to reevaluating banking services and improving user experience (UX), a new Deloitte study found.The Digital Banking Maturity 2024 report, released in October, surveyed 349 banks in 44 countries to understand the state of digital banking around the world and offer a comprehensive analysis of how banks are evolving in the digital era.A shift toward redefining existing offeringsThe report compares its findings with the previous 2022 edition, revealing a noticeable stagnation in the adoption of new functionalities in banking apps. Instead of focusing solely on introducing new functionalities, banks are now placing greater emphasis on refining existing features and enhancing the overall user experience, the study found.This shift is particularly evident among “Digital Champions” – those excelling in digital innovation, seamless customer journeys and real-time services – which are redesigning customer interaction channels and expanding relationship ecosystems, especially in areas like investment services.What are the primary focus areas driving digitalization growth among Digital Champions? Source: Digital Banking Maturity 2024, Deloitte, Oct 2024Overall, the study found that remote, digital onboarding is now common practice across the sector. However, Digital Champions are going the extra mile by adding user-centric features such as information on the application status, real-time validation and a “save and finish later” option.% functionalities offered by banks, Source: Digital Banking Maturity 2024, Deloitte, Oct 2024According to the report, this strategy aims to generate outstanding value for customers, offering them with a full range of key banking operations and fulfilling all financial needs. It aligns with the growing importance of customer experience as a key differentiator.The rise of super-appsThe report identifies another dominant approach that banking leaders are adopting. In this strategy, banks are focusing on adding many new functionalities and to provide comprehensive “super applications”. These platforms streamline end-to-end remote product offerings while enabling users to manage various aspects of their financial lives in one place.According to the study, Digital Champions are largely leading this revolution, providing savings and investment solutions 2.5 times more frequently than their competitors. Additionally, many top players are integrating fully digital cash loans into their standard services, and an increasing number are extending their digital capabilities to mortgage products.% of banks offering fully end-to-end product opening method in mobile or Internet channels, Source: Digital Banking Maturity 2024, Deloitte, Oct 2024Some of these apps have gone a step further, expanding beyond traditional banks to include a range of features such as mobility services, insurance options, and real estate tools, enabling customers to manage various aspects of their lives via a single platform. By providing an all-in-one solution, these institutions aim to keep users engaged within the app for more than just financial tasks, enhancing customer loyalty and convenience.According to the report, this approach has gained prominence in the Middle East and Asia, where Digital Champions are now offering such services 2.5 times more often than other banks, with significant differences seen in healthcare (6.5x) and public services (5.9x).Top value-added services by category, % of banks offering given functionality, Source: Digital Banking Maturity 2024, Deloitte, Oct 2024Real-estate, personal financial management to improve customer engagementThe research found that banks are also innovating in mortgage lending by introducing real estate marketplaces. These marketplaces are designed to facilitate home purchase, as part of the mortgage process and the only marketplace available, or they can make part of a bigger property-related ecosystem.% of personal financial management functionalities offered by banks, Source: Digital Banking Maturity 2024, Deloitte, Oct 2024Banks are also actively seeking new methods to improve customer engagement, introducing personal financial management functionalities and enhancing financial knowledge and awareness. These strategies aim to increase the duration and frequency of mobile app usage. They also create cross-selling opportunities, further driving customer interaction and loyalty.According to the report, Europe is the global leader in digital banking, with the highest number of Digital Champions at 17.Real estate marketplace functionalities offered by banks, Source: Digital Banking Maturity 2024, Deloitte, Oct 2024In the European neobank sector, the UK’s Revolut leads the market with 50 million customers, followed by Wise with 12.8 million, Bunq with 10 million customers, Monzo with 9.7 million, and N26 with 8 million, according to Statista.Number of customers at selected digital banks in Europe in 2024 (in millions), Source- Statista, 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/digital-banking-strategies-prioritize-refinement-of-existing-products-and-super-apps</link><guid>3805</guid><author>Administrator</author><dc:content /><dc:text>Digital Banking Strategies Prioritize Refinement of Existing Products and Super Apps</dc:text></item><item><title>Reuters Events to Host Future of Insurance Europe 2025 in Amsterdam</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxReuters Events has announced its “Future of Insurance Europe 2025” conference, set to take place on 7-8 May in Amsterdam.The event will address key challenges and opportunities in the European insurance sector, including AI integration, risk management, and evolving customer demands.The conference will bring together over 200 leaders from more than 35 countries.Attendees can expect discussions and insights on topics such as AI, technology, inflation, risk, talent, strategy, and customer engagement.Sessions will include panels, roundtables, workshops, hackathons, and presentations featuring prominent industry experts.Key speakers include Arturo Lopez-Linares, Chief Claims Officer at AXA; Henrik Ryden, CEO Nordics at Marsh McLennan; and Barbara Lieich-Steiner, Chief Digital Officer at UNIQA.Discussions will revolve around four key themes:Digital Transformation &amp; AI-Powered Innovation: Exploring technologies like generative AI and advanced analytics to revolutionise underwriting, claims processing, and customer service.Customer-Centric Strategies &amp; Product Development: Addressing ways to develop insurance products that are transparent, simple, and tailored to evolving customer needs.Risk Management &amp; Resilience: Examining strategies to mitigate emerging risks such as climate change and cyber threats while promoting sustainable solutions.Talent &amp; Workforce Evolution: Focusing on upskilling, attracting, and retaining talent, with AI playing a role in building dynamic workplaces.The event brochure, which includes details and a €200 discount available until 20 December, can be accessed here. ]]></description><link>https://fintechnews.eu/reuters-events-to-host-future-of-insurance-europe-2025-in-amsterdam</link><guid>3804</guid><author>Administrator</author><dc:content /><dc:text>Reuters Events to Host Future of Insurance Europe 2025 in Amsterdam</dc:text></item><item><title>Swiss Bitcoin App Relai Raises US$12M Funding, Eyes MiCA License for EU Growth</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwiss-based cryptocurrency app Relai has secured US$12 million in funding to drive its expansion across Europe.The investment was led by ego death capital with participation from Plan B Bitcoin Fund, Timechain, and Solit Group.The heavily oversubscribed funding round will enable Relai to enhance its platform, streamline the Bitcoin buying process, and educate users on the benefits of the crypto as a savings tool.Relai also shared its plans to obtain the Markets in Crypto-Assets Regulation (MiCA) license to gain access to a potential user base of 400 million.The company has reported significant growth, with a 300% year-on-year increase in user adoption, and is on track to reach 1 million downloads by 2025.Founded by Julian Liniger and Adem Bilican in 2020, Relai’s self-custody feature allows users to independently manage their Bitcoin while simplifying the buying process.Jeff BoothJeff Booth, Founding Partner at ego death capital, said,“Julian and Adem have built an incredible team and platform by focusing relentlessly on long-term value to users – helping them to both understand Bitcoin and to buy it safely and securely.They are already a European leader and are well positioned to become a household name.”Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/swiss-bitcoin-app-relai-raises-us12m-funding-eyes-mica-license-for-eu-growth</link><guid>3803</guid><author>Administrator</author><dc:content /><dc:text>Swiss Bitcoin App Relai Raises US$12M Funding, Eyes MiCA License for EU Growth</dc:text></item><item><title>Finpension greift ETF-Sparpläne an mit 0% Gebühren im 2025 / Next Stop: Bank-Lizenz</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your Inboxfinpension ist 2024 stärker gewachsen als je zuvor. Die verwalteten Vermögen haben um mehr als eine Milliarde Franken auf über drei Milliarden Franken zugelegt.Durch einen temporären Gebührenverzicht auf die neu lancierte Anlagelösung will finpension das Wachstum weiter an-kurbeln.Dynamische Marktentwicklung mit erhöhter Wechselbereitschaftfinpension konnte im Jahr 2024 bereits mehr als 15’000 Eröffnungen registrieren. Damit hat sich das Wachstum gegenüber dem Vorjahr mehr als verdoppelt. finpension führt das erhöhte Wachstum einerseits auf die breitere Produktpalette zurück, andererseits auf eine höhere Wechselbereitschaft der Schweizer Bankkundinnen und -kunden. Um maximal von der erhöhten Dynamik am Markt zu profitieren, verzichtet finpension 2025 auf die Gebühr von 0.39 % der Anlagelösung fürs freie Vermögen.Lösung zur Anlage von Kapitalbezügen aus der VorsorgeDer Ursprung der Anlagelösung lag im Wunsch von bestehenden Kundinnen und Kunden, ihre Vorsorgegelder auch nach der Pensionierung durch finpension verwalten zu lassen. Das Angebot setzt auf kostengünstige ETF und eine tiefe Verwaltungsgebühr. Es ermöglicht auch den Vermögensaufbau mit einem Sparplan und die Geldanlage in Private Markets ab einem Franken.Die Gebühr für diese Anlagelösung fürs freie Vermögen wird nun temporär auf 0.00 % reduziert. Die Fee-Holiday, wie ein Gebührenverzicht auf English genannt wird, gilt sowohl für alle Neukund:innen als auch für alle bestehenden Kund:innen.Vom Nischenplayer zur All-Finanz-App- Banklizenz im 2025?Bisher war finpension in der Vorsorge mit einer Wertschriftenlösung präsent. Seit dem Jahr 2024 bietet finpension auch ein Vorsorgekonto mit 100 % Cash an. Zudem konnte die Anlagelösung fürs freie, nicht in der Vorsorge gebundene Vermögen lanciert werden. Langfristiges Ziel von finpension ist eine All-Finanz-App, wozu auch Zahlungsdienstleistungen und das Hypothekengeschäft gehören. Dazu strebt finpension eine Banklizenz an.]]></description><link>https://fintechnews.eu/finpension-greift-etf-sparplane-an-mit-0-gebuhren-im-2025-next-stop-bank-lizenz</link><guid>3802</guid><author>Administrator</author><dc:content /><dc:text>Finpension greift ETF-Sparpläne an mit 0% Gebühren im 2025 / Next Stop: Bank-Lizenz</dc:text></item><item><title>N26 Introduces Ready-Made Funds to Its Investment Offering</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxN26 announced the launch of Ready-Made Funds, a new offering added to its existing Stocks &amp; ETFs trading.Ready-Made Funds allow customers to select a multi-asset portfolio made up of Exchange-Traded Funds (ETFs) and Index Funds, managed by investment experts from BlackRock. These funds are allocated across equity, ﬁxed income, and non-traditional investments and offer more diversiﬁcation than investing in a single asset class. The range also allows customers to choose a fund option to match the risk level they are most comfortable with: Mindful, Balanced or Ambitious.Simplifying Investment DecisionsReady-Made Funds are the latest addition to N26’s trading offering and are designed to be easy, cost- and time-efficient. Users can select a fund based on their risk appetite and resulting estimated yearly return, directly within the N26 app. The funds offer three different target allocations, with varying risk and yield ranges, fully managed by investment experts. Users can seamlessly access their fund via the N26 app to monitor holdings, deposit or withdraw funds, manage investment plans, and view fund details.Mayur KamatMayur Kamat, Chief Product Officer at N26, said:“Investing in the capital markets is an increasingly important way to build wealth over the long term. With Ready-Made Funds, N26 customers can now embark on their investment journey in a couple of taps, backed by the expertise of seasoned professionals.”This new product is available in Germany, Austria, Spain, Ireland, The Netherlands, Denmark, Finland, Norway, and Belgium and will be gradually made available to eligible customers over the next few days, starting from today. Ready-made funds are offered in cooperation with BlackRock, giving customers access to their global investment and multi-asset investing expertise.Timo ToengesTimo Toenges, EMEA Head of Digital Wealth at BlackRock said:“We are delighted to work with N26 to bring Ready-Made Funds to their customers. These multi-asset funds are part of a simple investing process that make it easy and affordable to invest. With our global investment expertise, we aim to empower more Europeans to take their ﬁrst steps into investing with conﬁdence and ease, harnessing the beneﬁts of different asset classes in a few taps.”Until 1 April 2025, N26 will waive its fees for this new product for all eligible customers. Thereafter, Ready-Made Funds will be available for annual fees starting at just 0.29% of the total investment value.]]></description><link>https://fintechnews.eu/n26-introduces-ready-made-funds-to-its-investment-offering</link><guid>3801</guid><author>Administrator</author><dc:content /><dc:text>N26 Introduces Ready-Made Funds to Its Investment Offering</dc:text></item><item><title>Media M&amp;A Activity Rebounds, Driven by Europe and Thriving Events Sector</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAfter 18 months of economic and geopolitical uncertainty, marked by recession fear, macroeconomic stability is making a comeback. This recovery is driving a resurgence in mergers and acquisitions (M&amp;A) activity in the media sector.The first half of 2024 recorded a 17% year-on-year (YoY) increase in deal volumes in the sector, climbing from 60 transactions to 70, according to a new report by Collingwood, a consulting and advisory firm specializing in the media sector. This growth was driven by Europe and the UK, which recorded 42 deals in H1 2024, up 35% YoY.Events businesses, which specializes in conferences, trade shows, awards, and one-on-one meetings, emerged as the most active area for dealmaking in Europe in 2024 with 69 deals. The UK, in particular, players a central role in this surge, the report says, hosting several prominent and private equity-backed event organizers such as Clarion Events, CloserStill Media, Hyve Group, Informa, Nineteen Group, and RX Global.Meanwhile, information businesses, which generate revenue from high-value content subscriptions and other recurring revenue models, also drove significant M&amp;A activity in Europe, with 62 deals recorded compared to 42 in the US.Though Europe and the UK led the media M&amp;A landscape in H1 2024, the report notes that the US remained a principal market, particularly in the media vertical, which encompasses publishers that generate revenue from multichannel sponsorships, content marketing, and demand- and lead-generation services.The US led globally with 70 media-specific transactions in 2024, ahead of Europe with 46 deals. The trend is driven in part by the country’s larger marketing market size, and the activities of private equity-backed consolidators like Endeavor and BridgeTower Media. These firm are looking to acquire business-to-business (B2B) digital marketing revenue platforms, the report says.Deal volume by region across information, media and events, Source: The Media Acquisition Report 2024, Collingwood, Oct 2024Key deals underscored this rebound in late 2024. Notably, media company Axel Springer sold its German finance platform, Finanzen.net and associated trading platform to private equity firm Inflexion for a staggering EUR 400 million, according to media reports. The transaction was one of the largest fintech deals in Germany this year.In December, Dow Jones acquired London-based WorldECR for an undisclosed amount. WorldECR is a provider of news, data and analysis for compliance professionals. WorldECR will integrate with Dow Jones Risk and Compliance, which reported a 16% YoY increase in Q1 2025 earnings to US$81 million.Information businesses remain most valuable, followed by media companiesAccording to the Collingwood report, valuation multiples this year remain broadly consistent across business models.In 2024, information businesses continued to be considered the most valuable, with EBITDA (earnings before interest, taxes, depreciation and amortization) multiples typically standing between 13x and 16x. These high valuations stem from their recurring business models and high margins.Media businesses followed, with multiples typically ranging between 8x and 12x. Modern and data-led media businesses stand in the higher end of this range, while traditional publishing or ad-led businesses are seen as riskier, exhibiting thus lower multiples.Finally, events businesses are typically valued lower, at 7x to 11x EBITDA. However, they can command higher multiples if they host scaled trade shows, have a strong recurring business (e.g., high rebooking rates for trade shows) or exhibit international expansion opportunities.Optimism ahead for 2025Looking ahead to the remainder of 2024 and 2025, the media M&amp;A landscape appears promising, the Collingwood report says. With inflation easing and interest rates beginning to fall, the cost of capital is decreasing, creating favorable conditions for dealmaking. In addition, political uncertainty is expected to diminish in 2025, further stabilizing the market, the report says.Buyers are anticipating M&amp;A activity to continue to increase over the next 18 months, moving back towards 2022 levels. The event vertical is expected to remain a focus point, driven by its profitability and growth potential.According to a report by A Media Operator, major players such as Informa and EasyFairs, but also PE firms are actively pursuing strategic acquisitions and looking for smaller firms for consolidation.Informa, a prominent British publishing and exhibitions group, has already spent some US$3 billion over the past few years on assets like Industry Dive, Tagus, Ascential, and others. However, the company still has the capacity for big acquisitions, the report says.Meanwhile, EasyFairs, a Brussels-based international events company, secured PE investment earlier this year to launch new events, broaden its geographic and sector presence, and tap strategic M&amp;A opportunities.Questex is another information and events company reportedly on the lookout for acquisitions, media or events, seeking deals that would likely fall into the US$50 million to US$60 million range, according to the report.BridgeTower Media, which specializes in B2B media and events, and HW Media, publisher of HousingWire, RealTrends and Reverse Mortgage Daily, are also said to be looking at M&amp;A opportunities.Transactions in the events space, Source: Eagletree Capital via A Media Operator, Oct 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/media-ma-activity-rebounds-driven-by-europe-and-thriving-events-sector</link><guid>3800</guid><author>Administrator</author><dc:content /><dc:text>Media M&amp;A Activity Rebounds, Driven by Europe and Thriving Events Sector</dc:text></item><item><title>Retail Investors Show Divergent Behaviors in Crypto versus Traditional Assets</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxRetail investors are showing distinct behavioral patterns when trading cryptocurrencies compared to traditional assets such as gold and stocks. Traditionally, investors tend to sell their stocks and gold when prices rise.In contrast, when cryptocurrency prices increase, retail investors are more likely to hold or buy more. This aligns with a “momentum-like” strategy, reflecting the belief that rising prices signal greater future adoption and value, a new research found.The research, published in September by finance academics from the US and the UK, analyzed trading behaviors for cryptocurrencies and traditional assets, using a dataset of trades from 200,000 individual retail accounts on brokerage eToro between 2015 and 2019.The analysis used the 200 most traded stocks on eToro, which account for over 91% of stock trading on the platform during the sample period. Similarly, it focused on the three most traded cryptocurrencies, namely bitcoin, ether, and ripple, which constitute over 78% of cryptocurrency trading during the sample period.For stocks and gold, the research found contrarian tendencies, where retail investors actively rebalanced their portfolios when prices went up, and put money into stocks when the prices went down.An analysis for the full set of traders in the dataset found that a 1% increase in stock prices was associated with a 1.2% decrease in the portfolio share due to rebalancing, translating to a 0.28% decrease in total portfolio share of stocks.Similarly, in gold trading, a 1% increase in gold prices was associated with a 38.1% decrease in the portfolio share due to rebalancing, translating to a 37.3% decrease in total portfolio share of gold. This strong contrarian behavior is explained in part by gold returns having much lower volatility than other asset classes as well as the high leverage used by retail investors when trading gold.Buy and Hold and Double Down on SurgesIn contrast, cryptocurrency investors tend to hold onto their assets after large price movements. Some even double down on cryptocurrencies during price surges. An analysis of trading activity found that a 1% increase in prices is associated with a 0.67% increase in the total portfolio share of cryptocurrencies, reflecting this trend.According to the report, these results are not the outcome of inattention, differential preferences for lottery-like assets, differences in fees, or the lack of cash flow information about cryptocurrencies. Instead, they reveal that retail investors are applying a model of cryptocurrency pricing in which positive returns increase the likelihood of future widespread adoption, which in turn leads them to update their price expectations in the direction of the price change.Unlike traditional assets, where adoption is already well-established, cryptocurrencies are a nascent industry, with their value tied to expectations of future growth. This explains the contrarian behavior when trading cryptocurrencies compared to more established assets like stocks and commodities, and the momentum-like tendencies.Booming crypto trading activityCrypto trading has undergone drastic evolution over the past decade, shifting from being a niche market among tech enthusiasts to becoming a mainstream financial phenomenon influencing global markets.Despite criticism on their speculative nature, extreme volatility, and lack of regulatory oversight, cryptocurrencies have gained significant traction among supporters.The State of Cryptocurrency Ownership Worldwide in 2024 report estimates that the number of digital currency users reached 562 million people this year, up 34% increase from 420 million in 2023. This figure implies that 6.8% of the world’s population are now crypto owners, with crypto ownership rising by a compound annual growth rate (CAGR) of 99% between 2018 and 2023.Crypto ownership worldwide, Source: The State of Global Cryptocurrency Ownership in 2024, Triple A Technologies, Sep 2024Institutional interest has also surged. A study by EY-Parthenon found that 94% of the 277 institutional investor decision-makers surveyed believe in the long-term value of blockchain and digital assets, with 79% considering them crucial for portfolio diversification.38% of respondents said they had already committed between 1%-5% of funds to digital assets or crypto-related investments, and in the case of family offices, nearly half are in that allocation range. Traditional hedge funds are reaching for digital assets gains even more aggressively than their peers, with 22% allocating greater than 5% of funds.What percentage of your funds have you allocated to cryptocurrencies, digital assets or related crypto funds/products?, Source: Gaining Ground: how institutional investors plan to approach digital assets in 2024, EY-Parthenon, May 2024Last month, crypto trading hit a new milestone, exceeding US$10 trillion across spot and derivatives markets for the first time in November, according to CCData, a data and index solutions provider specializing in the digital asset market.Spot trading volume rose 128% month-on-month (MoM) to US$3.43 billion, marking the second-highest monthly total since the previous peak in May 2021. Derivatives trading volumes, meanwhile, surged 89.4% to US$6.99 trillion, surpassing the previous all-time high set in March 2024.Monthly spot versus derivatives volume, Source: Exchange Review, November 2024, CCDataThis surge was fueled by significant events including Donald Trump’s election victory, which spurred expectations of a pro-crypto regulatory shift. Since election day on November 05, the price of bitcoin climbed more than 40%, crossing the US$100,000 mark on December 06.South Korea also played a key role in the global trading surge, driven by an altcoin frenzy. Aggregate trading volumes across major South Korean exchanges, including Upbit and Bithumb Korea, reached a record of US$254 billion, representing a 294% MoM increase. South Korea now accounts for 7.38% of the total spot trading volumes on centralized exchanges.Change in market share on selected exchanges, monthly, Source: Exchange Review, November 2024, CCDataInstitutional trading also soared, with CME’s aggregate trading volume hitting US$245 billion in November. Bitcoin futures volume rose by 72.2% to US$186 billion while ether futures volume increased by 122% to US$33.6 billion, a new all-time high for both the instruments.CME institutional volume, Source: Exchange Review, November 2024, CCDataFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/retail-investors-show-divergent-behaviors-in-crypto-versus-traditional-assets</link><guid>3799</guid><author>Administrator</author><dc:content /><dc:text>Retail Investors Show Divergent Behaviors in Crypto versus Traditional Assets</dc:text></item><item><title>Google Emerges as a Key Tech Enabler for Banks and Fintech Startups</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe role of Google in the financial services industry has evolved significantly, shifting away from direct consumer-facing offerings to becoming a critical technology enabler for fintech startups and financial institutions, a new report by C-Innovation, a French fintech-focused research firm, says.The analysis, released in November, explores Google’s expanding role in the financial services industry, focusing on how technologies such as Google Cloud, artificial intelligence (AI) tools, and Google Wallet, are empowering banks and fintech companies to swiftly innovate, scale and enhance customer experiences.Google Cloud: supporting growth and improving efficienciesThe report highlights the growing influence of Google Cloud in the financial services industry. Google Cloud is a suite of cloud computing services offered by Google. It provides infrastructure, platforms, and software that allow businesses and developers to build, deploy, and scale applications, store and analyze data, and more.In the financial services industry, Google Cloud allows banks and fintech startups to meet changing customer demands, scale their operations efficiently and manage large user bases without the need for substantial investments in IT infrastructure.Meanwhile, Google Cloud’s AI tools are designed to improve operational efficiencies. Lending Doc AI, for example, is an AI-driven tool designed to streamline the processing of loan documents. The tool uses advanced machine learning (ML) to extract, classify and analyze data from complex documents like mortgages applications, tax forms, and financial statements.Today, over 200 companies within the financial services sector rely on Google Cloud, cementing its position as a major force in the digital banking landscape. Notable customers include industry leaders such as Deutsche Bank, HSBC, BBVA, Revolut, Monzo, and Starling Bank.Google Cloud finance customers, Source: C-Innovation, Nov 2024The report highlights the case of Revolut, which uses Google Cloud’s infrastructure to enhance infrastructure scalability, automation and security. Through Google Compute Engine, Revolut has optimized its infrastructure, enabling automated deployments and updates that allow the company to scale in response to growing demand efficiently.Revolut also makes use of Google Cloud APIs and automation tools to further streamline processes and improve scalability across its operations in over 35 countries.Another example is the partnership between Google and GoHenry by Acorns, a fintech company focused on children’s financial education. This collaboration focuses on enhancing financial literacy through wearable technology, integrating GoHenry’s financial education tools with Google’s Fitbit Ace LTE.It allows children under 13 to manage money safely using GoHenry debit cards linked to Google Wallet. Parents, meanwhile, can set spending limits and monitor transactions, providing kids with real-world financial responsibility in a controlled and secure environment.Expanding Google Wallet capabilities for banks and fintech startupsThe C-Innovation report also notes the expansion of Google Wallet, which now offers digital identity (ID) solutions alongside its traditional payment features. These products and features are providing new ways for digital banks to improve onboarding and facilitate cross-border services.By enabling users to store digital versions of government-issued IDs, Google Wallet allows for seamless identity verification, simplifying the onboarding process for neobanks, reducing friction and enhancing user experience with secure biometric authentication.Google Wallet digital IDs, Source: C-Innovation, Nov 2024While Google services offer significant benefits to financial services companies, including enhanced scalability, cost efficiency and operational effectiveness, C-Innovation cautions against the risks of deep integration into Google’s ecosystem, highlighting concerns including over-reliance on Google products, regulatory challenges, and privacy issues.In addition to its business-to-business (B2B) services, Google also has a strong customer-facing presence in financial services.Google Pay is a mobile payment service that powers in-app, online, and in-person contactless purchases on mobile devices, enabling users to make payments with Android phones, tablets, or watches. Launched in 2011, Google Pay has amassed approximately 150 million users worldwide, recording US$110 billion in transaction value in 2019. The service is available in over 60 countries and territories.Google has also expanded its services through partnerships with banks and financial services providers. In India, Google is partnered with banks like Axis Bank and ICICI Bank to offer consumer and business loans. Google is also teamed up with Affirm and Zip, two major buy now, pay later (BNPL) players, to offer BNPL options to Google Pay users.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/google-emerges-as-a-key-tech-enabler-for-banks-and-fintech-startups</link><guid>3798</guid><author>Administrator</author><dc:content /><dc:text>Google Emerges as a Key Tech Enabler for Banks and Fintech Startups</dc:text></item><item><title>Fintech Emerges as One of Europe’s Top Tech Startup Sectors</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn Europe, fintech has risen to prominence as a leading startup sector, with some of the continent’s biggest tech companies operating in the field.These success stories have not only driven innovation but also cultivated some of Europe’s most active angel investors, who are now playing a critical role in nurturing the growth of their local ecosystems, according to a new report by Atomico, a London-based venture capital (VC) firm.The 2024 edition of the State of European Tech report, released in November, looks at the evolution of the European tech ecosystem, the progresses made, but also the hurdles to overcome for sustained success.According to the report, European companies valued at more than US$1 billion have proliferated in recent years, with the number of unicorns created in the past decade standing five times higher than pre-2015 levels. In particular, the finance sector led this surge, accounting for 24% of all unicorns formed in the past five years.Companies reaching US$1 billion+ valuation (%) by sector and year of milestone, 2024, Source: State of European Tech 2024, Atomico, Nov 2024Fintech: a leading tech sector in EuropeResponses to a survey of industry stakeholders conducted for the report underscore this dominance, with fintech companies like Revolut, Klarna, Adyen and Wise standing out as emblematic of the growth of the European tech sector over the past ten years.Revolut was named by 15% of respondents, ranking second after Spotify (26%). These companies are followed by Klarna and Adyen, with 110+ and 90+ mentions, respectively, underlining Europe’s characterization as a global centre of excellence for finance. Wise is another fintech company named, cited more than 50 times.Revolut is a neobank and fintech company headquartered in London that offers banking services for retail customers and businesses, including currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing “vaults”, personal loans and buy now, pay later (BNPL), and stock trading.Founded in 2015, the company serves over 45 million retail and 500,000 business customers globally, operates in more than 140 regions and supports over 25 currencies.Recently, Revolut reached a US$45 billion valuation after a secondary share sale, making it worth more than some of Europe’s biggest banks, Reuters reported. In July, it was granted a UK banking license after a three-year wait, though with some restrictions.Klarna is a leading global payments and shopping service, boasting 85 million active end-users, and more than 575,000 merchants in 26 countries. Founded in 2005 in Stockholm, Klarna offers direct payments, pay after delivery options and installment plans in a smooth one-click purchase experience.Klarna achieved net income of SEK 216 million (US$19.8 million) in Q3, up 57% year-over-year (YoY) and marking the second profitable quarter for the company.Klarna recently filed for an initial public offering (IPO) in the US. While no financial details have been provided, analysts in October put Klarna’s implied valuation at about US$14.6 billion.Adyen is a Dutch payment company with the status of an acquiring bank that allows businesses to accept e-commerce, mobile, and point-of-sale (POS) payments. Founded in 2006, Adyen provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, serving the likes of Meta, Uber, H&amp;M, eBay, and Microsoft.Adyen is listed on the stock exchange Euronext Amsterdam with a market capitalization of more than US$47 billion.Finally, Wise, formerly known as TransferWise, is a global tech company, specializing in cross-border transactions. Serving both individuals and businesses, Wise allows its customers to hold 40 currencies, move money between countries and spend money abroad.Launched in 2011, Wise is one of the world’s fastest growing, profitable tech companies, supporting around 12.8 million people and businesses, and processing approximately GBP 118.5 billion (US$151 billion) in cross-border transactions in its fiscal year 2024. Wise is listed on the London Stock Exchange under the ticker, WISE.Europe’s biggest success stories, Source: State of European Tech 2024, Atomico, Nov 2024Fintech entrepreneurs shape the European tech ecosystemEurope’s fintech success stories extend beyond operational growth to fostering local innovation. This manifests both in the number of investments Europe’s fintech founders make, but also their contribution to building their local market.Taavet Hinrikus, co-founder of Wise, is currently the most active angel investor in Europe. Hinrikus has made more than 90 investments to date with roughly half based in either the UK or Estonia, Wise’s two key hubs.Another prominent angel investor is Tom Blomfield, co-founder of GoCardless and Monzo based in the UK. Blomfield has made more than 40 investments to date, with 60% of these investments being based in the UK. He is the fourth most active angel investor in Europe.Other fintech founders in the leaderboard include Maximilian Tayenthal, co-founder of N26, ranked 8th with more than 30 investments to date, and 68% of these investments being in Germany; and Stefan Jeschonnek, co-founder of SumUp, ranked 9th with more than 30 investments and 45% of these investments being in his home country of Germany.Top angel investors among European US$B+ company founders, Source: State of European Tech 2024, Atomico, Nov 2024Europe’s tech momentumEurope has become a global leader in technology. The continent is now home to over 35,000 startups, a fourfold increase from fewer than 8,000 in 2015. Growth-stage companies, meanwhile, saw an eightfold increase to over 3,400.Count of early-stage, late-stage and US$B+ companies, 2015 versus 2024, Source: State of European Tech 2024, Atomico, Nov 2024The tech workforce has also expanded significantly, with 3.5 million people now employed in the sector. The vast majority of those employees have joined over the past decade with close to 3 million jobs created over that time frame. It’s growing at a 24% compounded annual growth rate, comparable to the US.Total tech industry employees in Europe and the US, 2015 to 2024, Source: State of European Tech 2024, Atomico, Nov 2024Total funding over the past decade is ten times higher than that of the previous decade, having soared from US$43 billion to US$426 billion. This year, investment levels are on track to reach around US$45 billion, three times as much as the US$15 billion recorded in 2015.Top capital invested (US$B) in Europe per year, 2005 to 2024, Source: State of European Tech 2024, Atomico, Nov 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/fintech-emerges-as-one-of-europes-top-tech-startup-sectors</link><guid>3796</guid><author>Administrator</author><dc:content /><dc:text>Fintech Emerges as One of Europe’s Top Tech Startup Sectors</dc:text></item><item><title>Mambu Acquires French Payment Technology Provider Numeral</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxMambu has announced the acquisition of Numeral, a French payment technology provider for banks and fintechs.The acquisition strengthens Mambu’s position as an industry leader, in a move that underscores market confidence and growing demand for modern financial experiences.With Numeral’s platform, Mambu is set to drive new value from wider audience segments that will increase its overall share of the market. It also offers a unique strategic fit to the foundation of the cloud banking leader’s long-term expansion efforts.Fernando Zandona“This acquisition marks a considered move to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio. Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs.”Fernando Zandona, CEO at Mambu.Speaking about why Numeral was the ‘right fit’ for Mambu, Zandona added:“Numeral’s values, proven agility, and robust onboarding processes match perfectly with our growth mindset as a business. We look forward to welcoming their talented team as we unlock new growth opportunities together.”Founded in 2021, Numeral is a fast-growing payment technology provider that offers financial institutions a universal gateway to connect to partner banks and access schemes and a modern payments hub to automate payment processing. The Paris-based firm processes more than €10 billion in payments annually and has established a strong presence in Europe, having expanded its operations to the UK last year.The size of the market opportunity for bank payments is striking. In 2022, the value of bank payments in the Eurozone stood at €191 trillion, that is 58x more than card payments (€3.3 trillion). This vast global market is transforming rapidly, driven by the rise of instant payments as a catalyst for modernising core banking and payment platforms. With its robust bank integrations, a modular API and modern dashboard, Numeral’s platform will enable Mambu to capitalise on this market opportunity.The cloud banking platform will also benefit from Numeral’s roster of partnerships with some of Europe’s leading banks, including BNP Paribas, Barclays, HSBC, and ABN AMRO.Édouard Mandon“Payments are at the heart of how companies do business around the world, yet they remain trapped in systems designed decades ago, unfit for the ongoing instant payments revolution,”said Numeral co-founder and CEO, Édouard Mandon.“This is a problem that Mambu intimately understands having helped banks and financial institutions worldwide to migrate from rigid, traditional core systems to agile and adaptable cloud infrastructure. Bringing together our dedicated payments technology with Mambu’s leading cloud banking platform and global customer base, we can enable more companies to make their payments future-proof and ever-compliant while eliminating hidden payment complexity at scale.”The integration of Mambu and Numeral’s advanced payment platform will enable banks, fintechs, and non-financial service firms to seamlessly manage end-to-end payment workflows, support multiple payment methods, and provide real-time transaction capabilities. This will drive greater operational efficiency, improved customer experiences, and accelerated time-to-market for innovative financial solutions.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/mambu-acquires-french-payment-technology-provider-numeral</link><guid>3797</guid><author>Administrator</author><dc:content /><dc:text>Mambu Acquires French Payment Technology Provider Numeral</dc:text></item><item><title>Making the Digital Transition With 4 Zeros for Financial Institutions</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn the last two years, some large banks have been hit with very public, lengthy – over 10 hours – disruption of their digital banking services.And that’s just the incidents we are aware of. Cases like these highlight the fears bankers may have in moving away from legacy systems in the name of innovation.Such unreliability erodes customer trust, impacts revenue, and perhaps most importantly, raises the ire of regulators.This fear factor also makes it harder for traditional banks to embrace going digital to fight neobanks and other digital-first financial institutions.Thus, many bankers and C-suites take a conciliatory route to keep boards, customers, and regulators happy: small innovations here, a product-only digital makeover there.Rarely, if ever, are legacy systems changed. Unfortunately, half-measures can only last so long in the uber-competitive BFSI space, especially with the increasing rollout of digital banking licenses across different Southeast Asian markets.Huawei’s 4 Zeros to resilienceAt the recent Singapore Fintech Festival 2024 (SFF), Huawei advocated that redefining financial resilience in the AI era be guided by Huawei’s 4 Zeros goal.Huawei Redefines Financial System Resilience with 4 ZerosZero TrustZero WaitZero DowntimeZero TouchEnsures end-to-end (E2E) in-depth security.Refers to business agility and ultra-low transaction latency.Means always-on services.Intelligent operation and maintenance (O&amp;M), similar to autonomous driving1. Zero data breaches.2. Virus blocking shortened from seconds to milliseconds.1. Service rollout shortened from months to days.2. Transaction latency reduced from 200ms to 50ms.1. Reduced Recovery Point Objective (RPO) from 15 minutes to 0 minutes.2. Reduced Recovery Time Objective (RTO) from 2 hours to 2 minutes.1. Zero human error.2. Provides 1-3-5 troubleshooting, proactively identifying service exceptions and automatically locating root causes within three minutes.Jason Cao, CEO of Digital Finance Business Unit, Huawei, said legacy banks in China have already made the jump into the deep end, choosing the visionary route and making wholesale changes to their foundations from a business standpoint.“Visionaries think that I have to do it, because if I don’t do it, my whole bank will lose capability for innovations.This requires not only a particularly strong focus on technology but also a comprehensive focus on the legacy systems as a whole: hardware, software and also engineering middleware, database.“So we take a holistic view of banks that want to make this change: we learn about the whole architecture, the business, and their business targets,”he told Fintech News Singapore on the sidelines of SFF.Jason Cao, CEO of Digital Finance BU, HuaweiFrom legacy to software-defined bankingIn China, over 80% of China’s top financial institutions have migrated critical applications and core banking from legacy to cloud infrastructures.There’s the Postal Savings Bank of China (PSBC), which boasts 650 million customers. With Huawei’s architecture, PSBC has moved its legacy applications from a monolithic structure to cloud-native applications on a private cloud, delivering more than 5,000 microservices, reducing the rollout time of composable products from two weeks to T+1, and achieving a transaction volume of 67,000 transactions per second (TPS).Cao said,Cao said,“We’ve also managed to help both traditional and neobanks build resilience with no legacy architecture, instead basing it on user journeys.The Shenzhen-based China Merchants Bank removed its legacy system entirely and is now a software-defined bank with over 137 million credit card users and more than 188 million mobile banking customers. In 2022, it rolled out more than 50,000 products and five million functioning points, essentially turning them into a giant Internet company from a traditional bank.“On the neobank side, Huawei’s solutions have helped ensure WeBank’s reliability: its system availability in 2023 was 99.999%, with daily transactions peaking at more than 1.1 billion, at an IT O&amp;M cost per account of 30 US cents.Our clients enjoy omni-channel secure service access, real-time interaction for better experience, core transaction and risk management, as well as SLA assurance through fast fault isolation,”he added.Huawei builds new resilience to surpass mainframes and achieve 99.999% availability by focusing on nine foundational technology domains: transactional databases, financial-grade platforms (PaaS), the R&amp;D tool chain, cell-based architecture, software and hardware collaboration acceleration, chaos engineering, data security, lossless upgrade projects, and cloud native deterministic O&amp;M.With Southeast Asian traditional banks fighting for the piece of the digital banking pie with non-BFSI competitors as well as lithe neobanks and digital wallets, Huawei’s 4 Zeros resilience solution deliverables have also attracted customers like the Philippines’ UnionBank, which has more than 15 million customers.In an impressive 35-day timeline, Huawei and its partner launched a cloud-based core banking system for UnionDigital Bank, enabling access to financial services for millions of unbanked Filipinos. Such a project usually requires three to six months to complete.Global ecosystem partnersIn a post-payments world, Huawei has upgraded its finance industry strategy, Cao said.“We provide comprehensive solutions which combine hardware and software, so it’s an ecosystem to help customers. But now our customers want us to solve more complex issues, beyond simply replacing their legacy systems.“So Huawei is growing its ecosystem by working with global partners, for example, like Temenos, a top player for core banking. On the other hand, we also work with a lot of regional leading fintech players in our ecosystem.With our top partners from China, we launched the Huawei Financial Partner Go Global Program (FPGGP) in 2021.Today there are more than 30 partners in FPGGP, and we want to introduce all these top-performing partners to the global market.“While we have access to global customers, we don’t do applications. Our partners work on applications, we work on the platform.Bringing our Chinese partners to the global market is just the first step – next we want to bring partners from across all the regions onto our global platform, giving them global access,”Cao said.To date, Huawei has served over 3,700 financial customers in more than 80 countries and regions, including 53 of the world’s top 100 banks. Huawei has also established strategic partnerships with more than 80 large banks, insurers, and securities companies across the globe, becoming their trusted partner in digital transformation.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/making-the-digital-transition-with-4-zeros-for-financial-institutions</link><guid>3795</guid><author>Administrator</author><dc:content /><dc:text>Making the Digital Transition With 4 Zeros for Financial Institutions</dc:text></item><item><title>Top Fintech Market Trend 2025: Tokenized Private Credit Market</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDigital markets and tokenizations represent a potential avenue of growth for the rapidly evolving private credit market. Tokenization, in particular, is poised to address some of the underlying challenges inherent in private credit, while enhancing efficiency and enabling broader investor participation, a new report by S&amp;P Global says.The report, released in October 2024, explores how tokenization could unlock new opportunities in private credit by enabling fractional ownership on blockchain platforms, mitigating liquidity risks and addressing operational inefficiencies that deter many investors.Private credit refers to a non-banking type of loan typically offered to companies but also individuals. In the private credit market, investors make loans to entities or individuals who may have trouble accessing credit from banks or the public markets. Because of the heightened risk, investors typically collect higher interest rates on private credit than they would earn on bonds or other debt investments.Despite these prospects, many investors are still hesitate to participate because of inherent challenges related to private credit. A year-end 2023 survey by Coalition Greenwich found that a majority (70%) of the wealth and asset managers would have allocated more to private credit investments if it weren’t for liquidity risks and/or high management fees. Additionally, a substantial share (38%) of survey respondents cited concerns about transparency.These issues are where tokenization offers transformative potential. Tokenization enables easier trading of fractionalized assets on digital marketplaces, making private credit more accessible by improving liquidity. Furthermore, the use of smart contracts reduce back-office costs and improve operational workflows. Finally, shared ledgers enabled by the use of blockchain technology enhance transparency and thus trust through real-time immutable records of records of ownership and transaction history.Barriers to investing in private credit, Source: Coalition Greenwich 2023 Private Credit Market Structure Study, with S&amp;P Global Ratings and 451 Research, Oct 2024arketStrong growth potentialThough still in its early stages, the tokenized private credit market is growing rapidly. According to S&amp;P Global, there is currently about US$500 million of tokenized private credit globally, but that market has surged by 66% over the past 18 months.With the broader private credit market currently standing at about US$1.7 trillion in investment globally, there remains significant room for growth, signaling a positive outlook for the market in the years to come.Digital domain, real-world assets, Source: S&amp;P Global, Oct 2024Diving into the current state of the tokenized private credit market, the report notes that there are currently two main ways in which private credit is being tokenized: first, by tokenizing existing private credit funds like Hamilton Lane’s SCOPE fund, which includes corporate loans; or by creating tokenized debt directly on decentralized lending platforms.Currently, decentralized platforms make up for the bunch of the tokenized private credit market. Centrifuge, for example, is a specialized blockchain designed for individuals and businesses to borrow against traditional financial assets from decentralized finance (DeFi)-based lenders. The platform had US$289 million of active loans outstanding as of July 26, 2024, focused on consumer asset backed securities (ABS), real-estate bridging loans, and trade finance.London-based digital finance company Greengage has taken a different route, focusing instead on small and medium-sized enterprise (SME) financing. The company announced in July a partnership with Coinbase to issue tokenized private credit to provide e-money account services to SMEs.Asset tokenization gains momentumAsset tokenization, which refers to the process of digitalizing ownership rights to physical or intangible assets, is gaining traction across the financial services sector. By leveraging blockchain technology and smart contracts, tokenization allows financial institutions to improve efficiency through programmable, composable financial instruments. It also allows for increased liquidity through fractionalization, and unlocks new revenue streams with innovative financial products.Formerly known as Onyx, Kinexys is the permissioned blockchain of banking giant JP Morgan. The platform allows users to trade tokenized assets like US Treasuries and mortgage-backed securities, and has exceeded US$1.5 trillion in notional value, processing an average of more than US$2 billion daily in transaction volume.Similarly, Goldman Sachs launched in January 2023 its Digital Assets Platform in partnership with blockchain software provider Digital Asset. Using Digital Asset’s purpose-built Canton Network blockchain, Goldman Sachs’ platform facilitates the issuance, registration, settlement, and custody of various tokenized assets.While the adoption of tokenization remains nascent, the tokenized assets market is gaining momentum. Roland Berger estimates that the tokenized assets market size reached US$400 billion in 2023. By 2030, asset tokenization is projected to grow to become a market worth at least US$10 billion, representing a 40-fold increase in the value of tokenized assets between 2022 and 2030.Market potential of asset tokenization, Source: Roland Berger, Oct 2023Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/top-fintech-market-trend-2025-tokenized-private-credit-market</link><guid>3794</guid><author>Administrator</author><dc:content /><dc:text>Top Fintech Market Trend 2025: Tokenized Private Credit Market</dc:text></item><item><title>Viac Brings Its 3A Pillar Saving Solutions to Private</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxHaving surpassed the milestone of 100’000 customers, VIAC is expanding its offering with VIAC Invest, taking another step into the future of cost-effective wealth management.With Invest, the Basel-based fintech is opening a new chapter and entering the private client sector. Until now, VIAC has primarily focused on retirement planning, managing assets of approximately CHF 4 billion. This has established VIAC as one of Switzerland’s leading digital investment platforms.VIAC Invest broadens the existing service by offering fund savings plans for free savings. Similar to its retirement solutions, customers can use passive funds to create personalized savings or withdrawal plans. These plans are just as simple, flexible, and transparent as VIAC’s retirement offerings, with investments starting from as little as CHF 1. This provides a cost-effective, diversified investment option tailored to the needs of existing customers.Launch OffersTo celebrate the launch of VIAC Invest, customers can invest without any administration fees until the end of 2025. In addition, they will receive a lifelong fee-free allowance of CHF 2’000. The first 25’000 customers will also receive a third welcome gift: a sign-up bonus of up to CHF 100.Even after 2025, VIAC will continue to set new standards for automated fund savings with its low administration fee of just 0.25% per year.Daniel Peter«We are proud to have 100’000 customers who trust us. With VIAC Invest, we want to offer them an even broader range of opportunities to save for their future»,says Daniel Peter, co-founder of VIAC.«Our goal is to revolutionize everyday banking and provide everyone with the tools they need to achieve their financial goals».VIAC Invest is available immediately via the app.More information about the new fund savings plans can be found at viac.ch/en/products/invest/]]></description><link>https://fintechnews.eu/viac-brings-its-3a-pillar-saving-solutions-to-private</link><guid>3793</guid><author>Administrator</author><dc:content /><dc:text>Viac Brings Its 3A Pillar Saving Solutions to Private</dc:text></item><item><title>Splint Invest Secures CHF 2.5M in Pre-Funding Round via Crowdfunding</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxZug-based startup Splint Invest has raised CHF 2.5 million from its Pre-Funding Round with 815 investors, exceeding its target and cancelling the planned public campaign. To date, the company has raised a total of CHF 4 million to pursue its European growth.MARK Investment Holding, the brains behind this platform, has announced that it has secured CHF 4 million in pre-funding and crowd-investing campaign.The pre-funding round raised CHF 2.5 million from 815 investors, sufficiently above the target which leads to the planned public campaign being cancelled.With over 200 assets to invest in on its platform, it already counts over 15,000 investors, one-third of which are from the EU. Over EUR 21 million has been invested in tokenized shares (Splints). The company is expecting a revenue increase of 280% annually relative to last year, so it is likely that it will continue to grow rapidly.The web-based savings platform Splint Invest successfully closed a CHF 1.5 million financing round with business angels and new investors. So far, the company has secured a total of CHF 8.3 million in funding, from recognized investors like Lukas Speiser, Jürg Schwarzenbach, and Patrick Mollet, as well as investment companies Haute Capital Partners and Kick Fund.Featured image credit: Splint Invest team: Dmitry Patuk (Head of Growth &amp; Co-Owner), Djuro Kojic (Head of Product), Mario von Bergen (Head of Investments &amp; Co-Founder), and Aurelio Perucca (CEO &amp; Co-Founder)]]></description><link>https://fintechnews.eu/splint-invest-secures-chf-25m-in-pre-funding-round-via-crowdfunding</link><guid>3791</guid><author>Administrator</author><dc:content /><dc:text>Splint Invest Secures CHF 2.5M in Pre-Funding Round via Crowdfunding</dc:text></item><item><title>Top 10 Fintech and Payments Trends 2025</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxJuniper Research revealed the 10 trends that are poised to transform the financial landscape in 2025.Each year, Juniper Research’s team of market experts identify the key trends that will drive the fintech market for the year ahead.Nick MaynardJuniper Research‘s VP of Fintech Market Research, Nick Maynard, commented:“Fintech and payments is changing rapidly, with alternative payment methods gaining popularity, fraud presenting a bigger challenge than ever, and regulations evolving quickly. As such, Juniper Research predicts that 2025 will see dramatic shifts, with these 10 trends representing the most impactful developments.”Top Ten Fintech &amp; Payments Trends 20251.  Apple NFC to Boost Competition in Digital Wallets2. Virtual Cards to Revolutionise B2B Expenses and Procurement3.  Behavioural Biometrics Driving Shift to Passive ID Verification4. eCommerce Merchants to Adopt ‘Glocal’ Payments5. Regtech to Accelerate Amid BaaS (Banking-as-a-Service) Compliance Challenges6. Banks to Invest in PSD3 and PSR1 Readiness7. Capital One’s Acquisition of Discover to Challenge Visa &amp; Mastercard8. Wero and Instant Payments Harmonisation to Transform European Payments9. AI Hype to Diminish as Fraud and Identity Drive Innovation10. Sustainable Fintech Becomes Key Differentiator for BanksFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/top-10-fintech-and-payments-trends-2025</link><guid>3792</guid><author>Administrator</author><dc:content /><dc:text>Top 10 Fintech and Payments Trends 2025</dc:text></item><item><title>Die günstigsten Schweizer ETF- und Fonds Sparpläne</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxWährend vielen Jahren waren Sparpläne eine Nische. Inzwischen bieten auch Neobanken Sparpläne an.Zudem sind Mindestgebühren bei vielen traditionellen Banken inzwischen Geschichte. moneyland.ch hat die aktuellen Sparplan-Angebote von 36 Anbietern aus der Schweiz unter die Lupe genommen .Mit einem ETF- oder Fondssparplan können Sparerinnen und Sparer regelmässig einzahlen und so Schritt für Schritt in den Aktienmarkt investieren. Ein Sparplan richtet sich an Kundinnen und Kunden, die zum Beispiel jeden Monat einen Betrag investieren wollen.Während vielen Jahren haben insbesondere etablierte Banken einen Sparplan angeboten. Viele Angebote waren unattraktiv, da die Fondssparpläne teure Strategiefonds enthielten. Für den Kauf von Anteilen sowie für die Depotführung fielen hohe Mindestgebühren an. Das hat sich inzwischen geändert: Nur noch relativ wenige Banken verrechnen Mindestgebühren.ralf beyeler«In letzter Zeit ist viel frischer Wind in den Markt gekommen»,sagt Ralf Beyeler, Experte von moneyland.ch. So bieten inzwischen auch die Smartphone-Banken Neon, Radicant und Yuh sowie Online-Broker wie Saxo Bank und Swissquote Sparpläne an. Manche Anbieter, zum Beispiel Swissquote und Yuh, ermöglichen den Kauf von Bruchteilen eines Anteils – sogenanntes Fractional Trading. Auch bei Robo-Advisors sind Sparpläne erhältlich.Die Vorsorge-App Viac hat den Start eines Sparplanes angekündigt, wobei die Konditionen bisher noch nicht bekannt sind. Bei Alpian wird es noch in diesem Jahr möglich sein, automatisch regelmässig in ETF zu investieren. Nicht immer haben die Produkte den Begriff Sparplan im Namen. Doch die Funktionsweise ist ähnlich: In regelmässigen Abständen wird ein definierter Betrag in Fonds oder ETF investiert.Unterschiedliche TarifsystemeDie verschiedenen Anbieter setzen auf verschiedene Gebühren, was einen Vergleich der verschiedenen Angebote komplexer macht. Bei allen untersuchten Sparplänen müssen die Sparerinnen und Sparer die Produktkosten der Fonds und ETF übernehmen, die in der Regel als TER ausgewiesen werden. Zudem verrechnen alle Anbieter die Umsatzabgabe weiter. Bei vielen Anbietern kommt die Mehrwertsteuer zusätzlich hinzu. Nur ganz wenige Anbieter betonen ausdrücklich, dass die Mehrwertsteuer enthalten ist.Einige Anbieter verrechnen eine Gebühr für den Kauf und/oder den Verkauf von Anteilen. Bei den Anbietern, die eine solche Gebühr verrechnen, beträgt diese bis zu 1.5 Prozent. Es wird jedoch keine Mindestgebühr verrechnet. Ein anderes System wendet Swissquote an, die eine Pauschale von mindestens 3 Franken pro Transaktion verrechnet. Viele Anbieter wie zum Beispiel Raiffeisen, Berner Kantonalbank und Valiant verrechnen eine Depotgebühr von meist 0.2 bis 0.5 Prozent. Bei den teuersten Anbietern beträgt die Depotgebühr 1 Prozent.Immer mehr Anbieter setzen statt auf Courtagen für Kauf und Verkauf sowie die Depotgebühr auf eine einzige Pauschalgebühr. Darin sind die Transaktions- und Depotgebühren bereits enthalten. Je nach Anbieter beträgt die Pauschalgebühr bis zu 0.9 Prozent.Eine wichtige Rolle spielen auch die über einen Sparplan angebotenen Fonds und ETF.«Zu empfehlen ist eine breit diversifizierte Anlagestrategie mit Aktien in aller Welt. Dies ist mit einem ETF oder Indexfonds auf einen Welt-ETF, aber zum Beispiel auch mit einer Anlagestrategie von einem Robo-Advisor möglich», erklärt Ralf Beyeler. «Voraussetzung ist jedoch, dass man noch ruhig schlafen kann, wenn der Wert der Anlagen sinkt. Kann man das nicht, so ist ein solcher Aktien-Sparplan keine optimale Anlagemöglichkeit»,ergänzt Ralf Beyeler.Es ist unbedingt empfehlenswert, auf die Kosten der Fonds oder ETF zu achten. Diese werden oft als TER angegeben. Bei den günstigsten im Rahmen eines Sparplans angebotenen Produkten beträgt die TER 0.03 Prozent, bei den teuersten sind es über 2 Prozent. Aufgepasst: Bei Produkten mit niedrigen TER handelt es sich teils um Geldmarkt- oder Obligationenfonds, die fürs Aktiensparen nicht geeignet sind.Kostensimulation von moneyland.ch zeigt grosse UnterschiedeUm trotz der unterschiedlichen Gebührensysteme einen Vergleich vorzunehmen, hat moneyland.ch eine Kostensimulation erstellt. Für die Kostensimulation wurde angenommen, dass eine Kundin oder ein Kunde während zehn Jahren jeden Monat 200 Franken einzahlt. Nach zehn Jahren kündigt die Kundin oder der Kunde den Sparplan, verkauft die ETF oder Fonds und lässt sich den Betrag überweisen.Die Kostensimulation wird als Bandbreite angegeben, mit den günstigsten sowie teuersten Kosten eines Sparplans. Insbesondere aufgrund der Gebühren eines Fonds oder ETF gibt es grössere Unterschiede, ausserdem kennen manche Anbieter je nach Fonds unterschiedliche Konditionen bei der Courtage, der Depotgebühr oder der Pauschalgebühr. moneyland.ch hat die Bandbreite zwischen dem teuersten und dem günstigsten Fonds berechnet, aber für die Kostensimulation nicht berücksichtigt, welche Art von Fonds im Sparplan enthalten ist.Die Kostensimulation ist eine Vereinfachung, so wurde der Wertzuwachs nicht berücksichtigt. Da die Gebühren oft auf dem Wert basieren, sind die Gebühren effektiv noch höher. Ebenfalls ignoriert wurden Mindestbeträge bei der Ersteinzahlung.Das sind die günstigsten Aktien-SparpläneDer günstigste Aktien-Sparplan wird von der Saxo Bank für Kundinnen und Kunden angeboten, die der Saxo Bank die aktive Wertpapierleihe erlauben. Über die Zeit von zehn Jahren fallen für den Sparplan mit einem ETF auf den S&amp;P-500-Index mit 500 US-amerikanischen Aktien Kosten von 80 Franken an. Bei der Variante ohne Wertpapierleihe sind es hingegen 346 Franken. Würden Anlegerinnen und Anleger in einen geografisch breit diversifizierten ETF auf den Welt-Index MSCI World investieren, würden sich die Kosten auf 261 Franken mit Wertpapierleihe und 527 Franken ohne Wertpapierleihe belaufen.Die weiteren Plätze auf dem Podest belegen die Smartphone-Banken Neon (193 Franken) und Yuh (325 Franken). Bei beiden Anbietern besteht der Sparplan aus jeweils einem ETF auf den S&amp;P-500-Index mit 500 amerikanischen Aktien. Der Sparplan mit dem günstigsten weltweit diversifizierten ETF umfasst sowohl bei Neon als auch bei Yuh jeweils einen ETF auf den FTSE All-World. Die Kosten betragen dabei 301 Franken (Neon) respektive 386 Franken (Yuh).Die Kosten für den günstigsten Sparplan sind bei Avadis und der Basellandschaftlichen Kantonalbank zwar geringer. «Aber die im Sparplan enthaltenen Geldmarkt- und Obligationen-Fonds sind für den Vermögensaufbau nicht geeignet», merkt Ralf Beyeler an. Beide Anbieter bieten auch Fonds mit Anlagen in Aktien an, diese sind jedoch wesentlich teurer.Interessant ist auch der Blick auf die Bandbreite der Angebote der drei günstigsten Anbieter: Bei Saxo kann der Sparplan bis zu 1592 Franken kosten, bei Neon bis zu 1402 Franken und bei Yuh bis zu 1365 Franken. Dies zeigt einmal mehr, dass es je nach ETF grosse Unterschiede gibt.Bei einigen Anbietern kosten die Sparpläne mit einem teuren Fonds mehr als 3000 Franken für zehn Jahre. Das teuerste Angebot kostet 4263 Franken.So schneiden traditionelle Banken abIn der Sparplan-Analyse von moneyland.ch wurden die Angebote von 19 traditionellen Banken berücksichtigt.Der günstigste Sparplan einer traditionellen Schweizer Bank mit einem Aktienfonds kommt von Raiffeisen. Über zehn Jahre gerechnet entstehen für den Sparplan mit einem Indexfonds auf den S&amp;P-500-Index Kosten von 636 Franken. Mit einem Fonds auf den weltweit diversifizierten MSCI World kostet der Sparplan von Raiffeisen 733 Franken.Oft beinhalten die günstigsten Sparplan-Angebote bei einem Anbieter einen Geldmarkt- oder Obligationenfonds. Bei Postfinance beispielsweise umfasst der günstigste Fondssparplan einen Geldmarktfonds mit einer TER von 0.13 Prozent, der günstigste Aktienfonds ist mit einer TER von 0.6 Prozent erheblich teurer. Die Mehrkosten entsprechen in unserer Kostensimulation über zehn Jahre insgesamt 569 Franken.Der Blick auf die Sparplan-Angebote der grössten Schweizer Banken zeigt folgende Bandbreiten für die Kostensimulation über zehn Jahre:Tabelle 1: Kosten für einen Sparplan bei grösseren Schweizer BankenEine ausführliche Tabelle mit sämtlichen untersuchten Banken ist als PDF verfügbar. Sie können sich die Tabelle als PDF in der Box unterhalb des Artikels kostenlos zustellen lassen.So teuer sind Sparpläne bei Smartphone-Banken und Robo-AdvisorsIn der Analyse hat moneyland.ch auch die Sparpläne von vier Smartphone-Banken sowie sieben Robo-Advisors untersucht. Bei Neon können die Kundinnen und Kunden für den Sparplan aus 98 ETF auswählen, bei Yuh aus 81 ETF und Tracker-Zertifikaten. Das ist eine vergleichsweise grosse Auswahl für einen Schweizer Sparplan. Sowohl Neon wie Yuh werben damit, dass Anlegerinnen und Anleger ausgewählte ETF im Rahmen des Sparplans ohne Gebühren kaufen können. Beim Verkauf fallen jedoch die üblichen Gebühren an.Bei der Wahl eines günstigen ETF gehören Neon und Yuh zu den günstigsten Anbietern. Beide Anbieter haben allerdings auch vergleichsweise teure ETF mit einer TER von knapp unter einem Prozent im Angebot. Die Kosten für zehn Jahre Sparplan gemäss Kostensimulation betragen bei Neon zwischen 193 und 1402 Franken, bei Yuh zwischen 325 und 1365 Franken.Alpian und Radicant entsprechen bei den Sparplänen eher dem Dienstleistungsangebot von Robo-Advisors. Diese erstellen eine individuelle Anlagestrategie, in der Regel basierend auf ETF und allenfalls Indexfonds. Oder anders gesagt: Die Anbieter stellen für die Kundinnen und Kunden individuell einen Korb mit verschiedenen ETF zusammen.«Typische Sparplan-Kundinnen und -Kunden investieren jeden Monat einen Teil ihres Einkommens in Aktien. Viele Angebote von Robo-Advisors richten sich jedoch nicht an diese Kundinnen und Kunden»,erklärt Ralf Beyeler. Denn manche Robo-Advisors verlangen eine Mindesteinlage von über 1000 Franken, je nach Anbieter gar bis zu 8500 Franken. Damit sprechen diese Anbieter ein Kundensegment an, das neben dem Notgroschen bereits etwas gespart hat, diese Ersparnisse in Aktien investieren und zudem regelmässig in einen Sparplan einzahlen möchte.Tabelle 2: Kosten für einen Sparplan bei Robo-Advisors und ähnlichen Anbietern* Hypothetische Berechnung ohne Berücksichtigung der Mindesteinlage.Drei Online-Broker bieten Sparpläne anDie drei Online-Broker Cash – Banking by Bank Zwei Plus, Saxo Bank und Swissquote bieten Sparpläne an. Konkurrent Cornèrtrader wird im Verlaufe des Jahres 2025 mit einem entsprechenden Angebot starten.Die Online-Broker haben eine vergleichsweise hohe Auswahl an unterschiedlichen Produkten, in die Kundinnen und Kunden im Rahmen eines Sparplanes investieren können. Bei der Saxo Bank sind es über 100 ETF und bei Swissquote sind es 94 ETF. Swissquote bietet zudem die Möglichkeit, regelmässig in 298 Aktien, 44 Kryptowährungen und 38 Themes-Trading- Produkte zu investieren. Cornèrtrader gab an, ab 2025 insgesamt über 5000 ETF anbieten zu wollen.Bei der Analyse fallen die grossen Kostenunterschiede zwischen den verschiedenen Anbietern auf. Saxo Bank ist mit Kosten von 80 bis 1326 Franken (mit Wertpapierleihe) beziehungsweise 346 bis 1592 Franken (ohne Wertpapierleihe) für zehn Jahre gemäss Kostensimulation günstiger als Swissquote (1205 bis 2343 Franken) und Cash – Banking by Bank Zwei Plus (1976 bis 4263 Franken). Ein Grund dafür sind die verglichen mit der Konkurrenz relativ hohen Depotgebühren, bei Swissquote sind es mindestens 80 Franken im Jahr. Bei Swissquote ist der Sparplan kein eigenes Produkt und dürfte damit eher Kundinnen und Kunden ansprechen, die Online-Trading nutzen und zusätzlich noch regelmässig Wertschriften kaufen möchten.Tabelle 3: Kosten für einen Sparplan bei Online-BrokernTitel-Bild Nachweis: Bearbeitet von freepik]]></description><link>https://fintechnews.eu/die-gunstigsten-schweizer-etf-und-fonds-sparplane</link><guid>3790</guid><author>Administrator</author><dc:content /><dc:text>Die günstigsten Schweizer ETF- und Fonds Sparpläne</dc:text></item><item><title>Maerki Baumann to Form a Technology Advisory Board</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Zurich-based private bank Maerki Baumann is to establish a Technology Advisory Board headed up by Marc P. Bernegger from 1 January 2025.The new expert body, which will also include PD Dr Alexander Ilic and Sandra Tobler, will focus on strategic topics related to technology.This step has been guided by the family-owned company’s belief that disruptive technologies and new companies such as fintech firms will have a major impact on the financial and banking industries going forwards. The Technology Advisory Board will actively support the private bank’s Board of Directors and Executive Board in the further development, digitisation and innovation of its business model.Technologies such as artificial intelligence, blockchain and robotics are increasingly permeating the economy and society in general. Their potential to trigger change will be felt in all sectors of the economy and will also see the market for financial services, in particular, undergo a fundamental transformation.This development is likely to see a shift in the competitive landscape, with new business models, such as those of fintech firms, becoming established.The Board of Directors and Executive Board have entrusted Marc P. Bernegger with responsibility for Maerki Baumann’s Technology Advisory Board.Marc P. BerneggerMarc P. Bernegger has been a founder, board member and managing director of numerous technology-focussed companies for over 20 years. In the recent past, he has been active as a successful entrepreneur in the areas of blockchain, crypto and longevity.In his role as Head of the Technology Advisory Board, Marc P. Bernegger will report to the Chairman of the Board of Directors, Hans G. Syz-Witmer, and the Chief Executive Officer, Dr Stephan A. Zwahlen, of Maerki Baumann. The new committee will advise the two management bodies as well as various key individuals at the private bank on strategic issues relating to technology.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/maerki-baumann-to-form-a-technology-advisory-board</link><guid>3780</guid><author>Administrator</author><dc:content /><dc:text>Maerki Baumann to Form a Technology Advisory Board</dc:text></item><item><title>Quirin Private Bank Relies on Swiss 3rd-Eyes Analytics for Their Advisory Process and Services</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxQuirin private bank has been using the digital wealth platform from the Swiss wealth and insurtech company 3rd-eyes analytics for its client advisory services since June 2024.With the help of 3rd-eyes, the financial goals and wishes of Quirin private bank’s clients can not only be calculated, but above all visualised and optimised.Karl Matthäus Schmidt‘3rd-eyes convinced us because their software can depict exactly what we want to experience with our clients during the advisory process. We provide a visual answer to the question: Can I achieve my personal financial goals and wishes? This has impressed us and has been very well received by our customers,’comments Karl Matthäus Schmidt, CEO of Quirin private bank, on the collaboration.‘The interactive planning solution – implemented by us as the Q-Navigator – ensures that customers can simultaneously view the development of their assets in different constellations. This motivates them to scrutinise their own goals and wishes and actively shape their own financial journey.’Wealth development is calculated by 3rd-eyes using a modern asset liability management (ALM) methodology that considers all assets, liabilities, cash flows, goals and market conditions. With the 3rd-eyes software, the individual wealth development of each client can be calculated for the first time in 1,000 realistic capital market and inflation scenarios. In addition, the achievability of personal goals is simulated and optimised.Due to the pleasing success of the project and the high level of acceptance of the 3rd-eyes software, Quirin Privatbank also acquired a financial stake in the Swiss wealth tech company, which is headquartered in Zurich. In addition, Karl Matthäus Schmidt, CEO of Quirin private bank, and Stefan Schulz, CFO of the Quirin subsidiary ‘quirion’ and member of the extended management of Quirin private bank, joined the board of directors of the Swiss company.]]></description><link>https://fintechnews.eu/quirin-private-bank-relies-on-swiss-3rd-eyes-analytics-for-their-advisory-process-and-services</link><guid>3781</guid><author>Administrator</author><dc:content /><dc:text>Quirin Private Bank Relies on Swiss 3rd-Eyes Analytics for Their Advisory Process and Services</dc:text></item><item><title>Die Digitalsten Schweizer Retail Banken</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie siebte Ausgabe der Studie „Digitalisierung &amp; Kundenerfahrung im Schweizer Retailbanking 2024” von Colombus Consulting zeigt, dass die Retail-Banken auch 2024 weiter in digitale Medien investieren.Die mobilen Apps werden immer aktueller und beliebter, die sozialen Netzwerke generieren mehr Engagement, und die Budgets für digitales Marketing steigen um 23 % auf über 58 Mio. Schweizer Franken pro Jahr. Das Web steht dem in nichts nach, da Tools zur Optimierung der Kundenerfahrung oder Chatbots eingesetzt werden, aber die Aufmerksamkeit für digitale Verantwortung oder ethische KI noch gering ist.Ein seit zwei Jahren unverändertes PodiumDie gleichen Banken bilden auch 2024 das Spitzentrio: UBS, PostFinance, Raiffeisen. Durch das Ausscheiden von Credit Suisse aus dem Panel und die Fortschritte von Swissquote in den Bereichen Web und mobile Apps kann die digitale Bank diesem Trio dicht auf den Fersen bleiben. Andere Banken machen Fortschritte wie Yuh und dieMigros Bank, die in unserer Rangliste auf Platz 7 bzw. 8 stehen.Die Anstrengungen im digitalen Bereich lassen sich in allen Kanälen feststellen. Das Publikum wächst insgesamt um 13,5 % (fast 30 Millionen Besuche pro Monat), die Investitionen in das digitale Marketing bleiben stark (+23 %, d.h. mehr als 58 Millionen Schweizer Franken pro Jahr), der NPS der mobilen Apps wächst um 5 Punkte (67 %) und das Engagement in den sozialen Netzwerken steigt um 64 % auf insgesamt fast 100.000 Interaktionen pro Monat.Das Web angetrieben von Kundenerlebnissen und digitalen ProduktenDie Optimierung des Kundenerlebnisses bleibt das A und O mit der Einführung neuer Webanalyse-Tools in diesem Sinne bei der FKB, N26 und Neon oder der Entwicklung des direkten Kontakts über Chatbot bei der BKB und Neon. Die Digitalisierung erfolgt auch über naturgemäss digitale Angebote und den nunmehr möglichen Zugang zu Kryptowährungen bei PostFinance und ZKB, in der gleichen Reihe wie die Kantonalbanken von Luzern, St. Gallen und Zug, mithilfe von Partnerschaften mit Akteuren, die auf diese Art von Vermögenswerten spezialisiert sind (Sygnum Bank und Crypto Finance AG).Mobile Apps werden beliebter und zu mehr Sicherheitsdiensten Die mobilen Apps der Banken sind in diesem Jahr ein grosser Erfolg. Der NPS steigt um 5 Punkte auf 67 % und auch die Anzahl der Aktualisierungen pro Bank steigt mit durchschnittlich 30 Aktualisierungen, 6 mehr als im Jahr 2023. Es gibt jedoch weiterhin eine Spaltung zwischen Neo-Banken und traditionellen Banken (64 Updates gegenüber 24). Die innovativsten neuen Dienstleistungen werden von der Neobank Revolut dank der automatischen Steuerung von Investitionen und eines verbesserten Schutzes gegen den Diebstahl von Telefonen angeboten. Swissquote setzt ebenfalls auf Sicherheit mit einer 2-Faktor-Authentifizierung für die Validierung der sensibelsten Transaktionen.Soziale Netzwerke: Engagement getragen von Instagram und LinkedInDie Reichweite der sozialen Netzwerke ist in diesem Jahr geringer: Die Zahl der Abonnenten ist um 26 % (insgesamt 2 Millionen) gesunken, was auf das Fehlen von Credit Suisse und FlowBank im Panel sowie auf den Rückgang von Facebook zurückzuführen ist.Das Engagement ist auf dem Vormarsch und wächst um 64 %, vor allem dank Instagram und LinkedIn, und erreicht fast 100.000 Interaktionen pro Monat. Die Inhalte sind sichtbarer und ermutigen die Abonnenten, sie zu liken, zu kommentieren oder zu teilen, vor allem dank des Influencer-Marketings von UBS mit dem F1-Team und dem Fahrer George Russel. Raiffeisen wendet sich mit einer eigenen Instagram-Seite und einem aktiven und engagierten TikTok-Konto, das mehr als 700.000 oder sogar 800.000 Aufrufe für einige Videos generiert, an die jüngsten und netzwerkaktiven Zielgruppen.Erobert (generative) KI die Schweizer Banken?Während Privatbanken wie Pictet und Vontobel kürzlich mit auf generativer KI basierenden Assistenten zur Optimierung ihrer internen Produktivität und Kundeninteraktionen den Weg geebnet haben, zieht die UBS über ihren KI-Assistenten, der in den letzten 12 Monaten intern entwickelt wurde, um Unternehmensdaten im Rahmen von Fusionen und Übernahmen zu analysieren, nach.Temenos, ein Schweizer Anbieter von Banking-Lösungen, bietet nun eine Reihe von Lösungen an, die mit generativer KI angereichert sind. Seine Kundenbanken können damit einzigartige Informationen und Berichte generieren oder auch Produkte in Echtzeit nach Kundenpräferenzen erstellen, um die grundlegenden Bankaktivitäten und die kritischsten Geschäftsfunktionen zu unterstützen.In der gleichen Logik haben andere allgemeine Anbieter wie Oracle, Salesforce und Microsoft ihre Lösungen mit generativen KI-Modulen angereichert, um die verfügbaren Funktionen zu erweitern und gleichzeitig eine starke Geschäftslogik beizubehalten.Digitale Verantwortung noch im WerdenDer bereits im letzten Jahr in unseren digitalen Index aufgenommene digitale Verantwortung misst die Umweltauswirkungen der Websseiten der Panelbanken, indem er deren Komplexität, Gewicht und Ressourcenoptimierung analysiert. Die im Jahr 2023 festgestellten halbherzigen Ergebnisse bleiben auch 2024 mit einem nahezu unveränderten EcoIndex-Durchschnitt von 36/100 noch aktuell.Swissquote bleibt mit einem ausgezeichneten Ergebnis von 95/100 Punkten allein an der Spitze. Die CA Next Bank und LUKB haben sich gut entwickelt, ohne jedoch die 50/100 zu überschreiten, und die schlechtere Bewertung von Akteuren wie BCV, N26 und Yuh konnte nicht ausgeglichen werden. Es bleibt abzuwarten, ob die Banken in den kommenden Monaten die digitale Verantwortung stärker in den Mittelpunkt ihrer digitalen Strategie stellen werden.Auf dem Weg zu einer ethischeren und verantwortungsvolleren Art Banken?Die Themen rund um die Ethik und die Verantwortung der Banken entwickeln sich an allen Fronten, insbesondere auf regulatorischer Ebene in Europa (und zweifellos langfristig auch in der Schweiz), wobei die CSRD (Corporate Sustainability Reporting Directive) und das KI-Gesetz an erster Stelle stehen.Zur Erinnerung: Die CSRD verlangt von den Unternehmen eine detaillierte nichtfinanzielle Berichterstattung über ihre Auswirkungen auf Umwelt, Soziales und Governance und damit die Verpflichtung, auf diesen Achsen zu handeln, und das KI-Gesetz verlangt, dass KI-Systeme nach Risikoniveaus klassifiziert werden, mit Verpflichtungen je nach ihrer Nutzung. Die Schweizer Banken sind nicht alle im gleichen Boot: die internationalen Banken mit einer europäischen Ausrichtung, die daher diese Richtlinien befolgen müssen, und die anderen, die eher lokal ausgerichtet sind, aber letztendlich davon betroffen sein werden.]]></description><link>https://fintechnews.eu/die-digitalsten-schweizer-retail-banken</link><guid>3782</guid><author>Administrator</author><dc:content /><dc:text>Die Digitalsten Schweizer Retail Banken</dc:text></item><item><title>Bx Swiss Found CEO for Its New Digital Asset Exchange</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxBX Digital announced the planned appointment of Lidia Kurt as its new Chief Executive Officer.BX Digital is a sister company of the Swiss exchange BX Swiss and part of the Boerse Stuttgart Group.BX Digital aims to create a transparent, accessible and liquid market for digital assets based on blockchain technology in Switzerland.Lucas Bruggeman“With the appointment of Lidia Kurt, we intend to continue on our dynamic path,”says Lucas Bruggeman, Chairman of the Board of Directors of BX Digital.“We have the ambition of becoming the first licensed DLT trading system in Switzerland. The application has been submitted to FINMA.”Lidia Kurt holds a PhD in Finance from the University of St. Gallen, is the author of the book Digital Assets and Tokenisation and has extensive expertise at the interface of financial systems and innovative technologies. Since founding vision&amp; in 2017, she has been working as a consultant for digital assets and has successfully supported numerous tokenisation projects. Previously, she was Managing Partner of a quantitative finance consultancy and gained valuable experience at J.P. Morgan and Swiss Re in Zurich, London, and Hong Kong.Since 2021, she has been involved at Boerse Stuttgart Group on Blockchain specific topics as an external consultant.Lidia Kurt“I am looking forward revolutionising financial market structures with BX Digital at the forefront, opening up new avenues for efficiency and innovation,”says Lidia Kurt.“The possibility of trading digital assets such as tokenised shares, bonds and certificates on a regulated secondary market for the first time in the future is groundbreaking for the financial centre.”Transactions can be processed within minutes via a public blockchain, without the need for centralised financial intermediaries such as central securities depositories or clearing houses.Matthias Voelkel“As Boerse Stuttgart Group, we are pioneers in the field of digital assets and with BX Digital we want to shape the future European market infrastructure for tokenised securities. We are therefore delighted that Lidia Kurt will contribute her extensive expertise and experience to the management of BX Digital and thus contribute to our success.”added Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group.]]></description><link>https://fintechnews.eu/bx-swiss-found-ceo-for-its-new-digital-asset-exchange</link><guid>3783</guid><author>Administrator</author><dc:content /><dc:text>Bx Swiss Found CEO for Its New Digital Asset Exchange</dc:text></item><item><title>Private Equity Firm Acquires finanzen.net From Axel Springer</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxInflexion, an European mid-market private equity firm, announced that it has agreed an investment in Finanzen.net Group, a digital broker and market leading financial information portal in the DACH region, alongside the founders.According to a Reuters report the company value could be around 400 millions Euro.The investment is being made by Inflexion’s Buyout Fund VI and is the second investment in the DACH region after Tierarzt Plus Partner since Inflexion opened its office in Frankfurt earlier this year.The Group consists of three divisions: high-growth low-cost digital investment platform, also known as a neobroker, called Zero, a capital markets information platform called Finanzen.net, and a trading software platform for semi-professional retail investors called TraderFox. The business will be acquired from Axel Springer, a leading transatlantic media company.Inflexion will work with Finanzen.net Group’s founders and management to carve-out the business as a standalone integrated company and drive future growth. In particular, Inflexion will support the launch of additional saver and investing products.Inflexion has a strong track record in carving out businesses from large corporates, and this will be the sixth carve-out in four years following investments into Marlowe (GRC), GlobalData Healthcare, Curinos, aosphere and Giacom.Florencia KassaiThis transaction exemplifies the power of collaboration between regions and sectors, with our Frankfurt team working with our Financial Services specialists in London, leveraging the full capabilities of Inflexion, including our extensive experience in supporting carve-outs. Such collaboration will be pivotal in driving the future growth of Finanzen.net, as we aim to create a leading digital investment platform in the DACH region.Florencia Kassai, Managing Partner and Head of Buyout Fund, InflexionMaximilian von RichthofenThe goal is clear: We want to develop Zero in connection with the financial news business into the broker of choice for investing, trading and saving. More than ever, the focus of Finanzen will be on delivering innovative technological solutions for capital markets. I am thrilled that with Inflexion we are partnering with a successful investor who will support us in executing on this strategy with investments in products and technology. Special thanks are due to the excellent Finanzen team and our shareholder Axel Springer who provided us with entrepreneurial freedom, thereby creating the conditions under which we have been able to open this new chapter of our growth story.Maximilian von Richthofen, CEO, Finanzen.net GroupFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/private-equity-firm-acquires-finanzennet-from-axel-springer</link><guid>3784</guid><author>Administrator</author><dc:content /><dc:text>Private Equity Firm Acquires finanzen.net From Axel Springer</dc:text></item><item><title>Swiss Marketplace Lending Volume Falls</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn 2023, Switzerland’s marketplace lending witnessed a significant contraction, with the volume of new debt capital issued on online platforms falling by 10.8% year-over-year (YoY) to approximately CHF 18.6 billion, a joint report by the Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA) says.The Marketplace Lending Report Switzerland 2024, released in October, provides a comprehensive analysis of online debt financing trends for corporations, public entities, and private individuals in Switzerland. It focuses on online platforms directly connecting lenders and borrowers, offering an overview of the current state and emerging trends within the Swiss marketplace lending landscape.This year’s report reveals a decline in marketplace lending volumes, with key subsegments of the markets, including crowdlending and mortgage financing, facing the steepest drops.In 2023, crowdlending plummeted by 20% YoY to CHF 389.1 million in new loans, down from CHF 497.5 million in 2022. Similarly, mortgage loans brokered on platforms and financed by institutional and professional investors fell by 20%, falling from CHF 6.2 billion in 2022 to CHF 5 billion in 2023.Meanwhile, the subsegment of loans and bonds targeting mid-sized and large corporations, as well as public and near-public entities, showcased the most resilience, declining by just 6.7% YoY to CHF 13.2 billion.Total volume Swiss marketplace lending, 2017-2023 (in CHF million, *estimate), Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024Crowdlending: a market led by real estate but in declineWithin crowdlending, real estate continued to lead the subsegment, generating CHF 203.9 million in 2023 and accounting for 52.4% of the market. The sum, however, represents a major YoY decline of 27.9% from CHF 282.7 million in 2022.That volume mainly consisted of loans to companies in the real estate development business, many of which were issued as short-term credits, later redeemed by banks.Business crowdlending was the second-largest subsegment, contributing CHF 132.8 million or 34.1% of the market. While it saw a milder drop of 6.4% YoY, this performance reflects ongoing interest despite broader market pressures.Crowdlending volumes and number of loans in Switzerland, 2012-2023, Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024At the end of 2023, 16 crowdlending platforms were active in Switzerland, with increased involvement by banks and insurance companies, as well as market consolidation, the study found.Lend acquired Lendico from PostFinance in 2019, and in a reciprocal move, PostFinance acquired a stake in Lend; Basellandschaftliche Kantonalbank is a strategic investor in Swisspeers; and Funders is a platform launched by Luzerner Kantonalbank in 2016.Mortgage loans witness first decline in a decadeIn 2023, the mortgage brokerage subsegment recorded its first decline in ten years, reaching approximately CHF 5 billion, down from CHF 6.2 billion in 2022.The report anticipates that in 2024, some platforms will exit the business-to-consumer (B2C) mortgage market, with further consolidation expected moving forward. This will be driven by a number of factors, including a lower growth rate than expected, as well as relatively low margins per transactions, it says.Volume of mortgage brokers in Switzerland, 2017-2023, Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024At the end of 2023, 12 different platforms operated in the mortgage vertical, serving a professional investor base of banks, insurance companies and pension funds as lenders.Key players included UBS key4 mortgages, through which UBS offers its own mortgages and mortgages from third parties, and BrokerMarket from Thurgauer Kantonalbank, which operates as an intermediary platform connecting mortgage borrowers with lenders through mortgage brokers. Several independent mortgage brokerage firms were also present, including RealAdvisor, Resolve, topHypo ,Hypohaus, PropertyCaptain and Hypo Advisors.Loans and bonds for public entities and corporationsFinally, loans and bonds for entities and corporations, another key subsegment in the Swiss marketplace lending landscape, remained a dominant force within the sector in 2023, capturing a 71% share of the market with CHF 13.2 billion in new loans issued.This section includes two types of loans or private placements: firstly, the online market for loans to public or near-public entities; and secondly, the market for loans to mid-sized and large corporations. Investors in both subsegments are banks and institutional and professional investors, such as asset managers, family offices and pension funds.Two market participants were currently active in this segment in Switzerland in late 2023. Loanboox, launched in 2016, has grown rapidly in the loan market for public entities with now more than 3,000 transactions and CHF 30 billion in volume closed. Cosmofunding, meanwhile, is a platform launched in 2018 by Bank Vontobel. The company focuses on public and corporate borrowers.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/swiss-marketplace-lending-volume-falls</link><guid>3785</guid><author>Administrator</author><dc:content /><dc:text>Swiss Marketplace Lending Volume Falls</dc:text></item><item><title>EU Leads in Crypto Regulation with MiCA, Travel Rule Updates</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe regulatory landscape for cryptocurrencies has undergone significant transformation in 2024, with the European Union (EU) leading the charge through landmark initiatives such as the Markets in Cryptoassets (MiCA) regulation, but also guidelines on stablecoins as well as updates to the so-called “travel rule” for crypto transfers, a new report by Elliptic, a British blockchain analytics firm, says.These efforts represent some of the most significant crypto regulatory advancements of the year, highlighting the EU’s pioneering role on the global stage, and setting the stage for regulatory trends in other regions.MiCA: a groundbreaking regulationThe report, released in September 2024, highlights MiCA as a pivotal step in the global regulation of cryptocurrencies. The regulation, which aims to harmonize crypto regulations across the EU, marks the first comprehensive framework introduced by a major global economy.A major component of MiCA is the licensing requirement for cryptoasset service providers (CASPs), which obligates them to adhere to strict market conduct, consumer protection and prudential standards.Once licensed by a national supervisory authority in one EU member state, a CASP is allowed to extend its services across the entire bloc, creating significant business opportunities.The rollout of MiCA is being conducted in phases. Provisions on stablecoins took effect on June 30, 2024, while the remaining parts of the regulation will start to apply on December 30, 2024.Updates on the “travel rule”Another key regulatory development in 2024 was the EU’s updates to its travel rule to cover crypto transfers.The travel rule refers to regulations that require financial institutions to share information about the sender and receiver of financial transactions. It’s designed to combat money laundering, terrorism financing and other illicit financial activities.The new guidelines, released by the European Banking Authority (EBA) in July 2024, specify the informations required to accompany every crypto transfer, regardless of their amount. They also outline steps for payment service providers and CASPs to address missing or incomplete details, and establish measures for managing non-compliant transfers.The update aims to ensure a consistent EU-wide approach to tracing transfers for anti-money laundering and counter-terrorism financing (AML/CTF) purposes, taking effect from December 30, 2024, and replacing earlier guidance.Stablecoin rulesFinally, stablecoins, because of their growing importance in the crypto ecosystem, have come under increased regulatory scrutiny.Under MiCA, stablecoin issuers are required to obtain approval from relevant member state authorities before offering their tokens within the EU, or when offering stablecoins pegged to the euro or other member state currency.They must maintain adequate reserves with a one-to-one ratio and partly in the form of deposits. They must also provide redemption rights to token holders at any time and free of charge, and must have a registered office in the EU.Outside of the EU, other jurisdictions have also released stablecoin regulations over the past year. In Switzerland, the Financial Market Supervisory Authority published on July 26, new guidance, clarifying the obligations of stablecoin issuers.The guidance, which emphasizes AML/CFT compliance and default guarantees, requires issuers to determine whether their tokens qualify as deposits or investment schemes and comply with banking license requirements if applicable.New challenges for industry playersAlthough these regulatory developments are providing greater clarity for businesses operating within the crypto space, they also introduce new compliance challenges to industry stakeholders.Critics argue that MiCA could increase costs for providers and create significant burdens for startups and smaller players, raising barriers to entry and stifling innovation.Meeting the new standards may prove challenging for some companies as they involve costly licensing applications, adjustments to the business operations to meet the requirements of the license, including capital and AML and compliance functions, as well as ongoing obligations for monitoring and reporting, KPMG warns.This dynamic is expected to give larger companies with substantial financial resources a competitive edge, enabling them to acquire, at a discount, smaller crypto companies unable to comply with the new legislation.Such consolidations are already taking place. In July, British crypto trading platform Iconomi acquired Triaconta, a Dutch crypto investment platform to grow and develop in the Netherlands and wider EU market. In September, Kraken, a leading American crypto exchange, completed its acquisition of BCM, one of the Netherlands’ oldest and most renowned registered crypto brokers.In addition, some companies are navigating these challenges by choosing jurisdictions with less stringent regulatory environments. For example, OKX, one of the world’s largest crypto exchanges by trading volume, selected Malta over France as its EU hub, citing “more lenient … compliance”. Similarly, Israeli broker eToro chose Cyprus as its EU hub where it secured a CASP registration in September 2023.The Elliptic report, titled Global Crypto Regulation Landscape 2024, provides an update on regulatory progress related to cryptoassets. It highlights key trends and advancements in 2024 so far, offering a detailed overview of global and regional developments in crypto regulations.Featured image credit: image via freepik]]></description><link>https://fintechnews.eu/eu-leads-in-crypto-regulation-with-mica-travel-rule-updates</link><guid>3786</guid><author>Administrator</author><dc:content /><dc:text>EU Leads in Crypto Regulation with MiCA, Travel Rule Updates</dc:text></item><item><title>Germany’s 12 Fastest-Growing Fintech Startups in 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSifted, a tech media brand backed by the Financial Times (FT), has released its annual ranking of Germany’s fastest-growing startups, showcasing the resilience and dynamism of the country’s tech ecosystem.The Sifted 50: Germany Leaderboard, released in September, ranks the 50 startups with the strongest revenue growth in the country over the past three financial years. These companies have achieved remarkable revenue growth despite double-digit inflation and sharply rising interest rates.This year’s average two-year revenue compound annual growth rate (CAGR) stands at a remarkable 162.08%, with the top three companies surpassing the 500% CAGR mark.Geographically, Berlin leads as the hub for innovation, with 22 of the top 50 companies based in the capital, followed by Munich with nine and Cologne and Hamburg with three each.Combined, these 50 companies have raised EUR 6.98 billion in funding and generated revenues of EUR 3.03 billion over the past three financial years.This year, fintech dominates the leaderboard, with 12 companies offering cutting-edge solutions in areas including personal finance, expense management and regtech. This underscores fintech’s prominence in Germany.Today, we look at the 12 fintech companies that made it into this year’s Sifted 50: Germany Leaderboard, highlighting their value propositions and recent achievements.Anybill (+328.17% revenue CAGR)Anybill platform, Source: AnybillFounded in 2019, Anybill allows retailers of all sizes to issue receipts digitally, directly at checkout. The solution integrates with merchant apps, wallets, banking, and payment apps, bridging gaps in payment infrastructure.Anybill, which is based in Munich, has secured EUR 5 million in funding, and recorded a two-year revenue CAGR of 328.17%. The figure makes it the 6th fastest-growing German startups of the past two years, according to Sifted.Finanzguru (+168.67% revenue CAGR)Finanzguru illustration, Source: FinanzguruLaunched in 2018, Finanzguru is a financial assistant app that leverages artificial intelligence (AI). The platform allows users to manage all of their banking accounts and contracts in one place, and provides them with advice on insurance and financial products based on a digital analysis of their banking data.Operated by Frankfurt am Main-based dwins, Finanzguru claims more than 1.5 million registered users, making it the largest bank-independent financial app in the German market. The company achieved a revenue CAGR of 168.67% these past two years, making it the 15th fastest-growing startup in Germany.HeyData  (+144.9% revenue CAGR)HeyData illustration, Source: HeyDataEstablished in 2020, HeyData is a leading compliance startup headquartered in Berlin. The company provides an all-in-one compliance solution, helping more than 1,500 small and medium-sized enterprises (SMEs) and startups manage their data protection and compliance requirements.HeyData secured a EUR 3.3 million seed funding round in September 2022 to fund its product expansion and venture into new markets. The company achieved a revenue CAGR of 144.9% during the prior two years, making it the 18th fastest-growing startup in Germany.Circula (+140.48% revenue CAGR)Circula illustration, Source: CirculaFounded in 2017, Circula is a leading expense management solution for SMEs in Europe. The platform helps businesses manage employee expenses, such as travel costs, out-of-pocket expenses, and benefits. It automates the process of submitting and approving expense reports, and seamlessly integrates with existing enterprise resource planning (ERP), accounting and human resources (HR) software.Circula claims 2,000+ business customers. The company has secured US$25 million in venture capital (VC) to date, and recorded a revenue CAGR of 140.48% in the last two years, making it the 20th fastest-growing German startup.Hawk (+105.74% revenue CAGR)Hawk illustration, Source: HawkFounded in Munich in 2018, Hawk uses explainable artificial intelligence (AI) to revolutionize anti-money laundering (AML) and regulatory compliance for financial institutions. The company’s technology combines AML transaction monitoring, payment screening, know-your-customer (KYC), and fraud detection to provide comprehensive tools that help institutions fight financial crime effectively while saving costs.Hawk, which works with leading financial institutions and partners such as Moss, Mambu, Visa, and LexisNexis, has raised US$27 million in funding. The company recorded a revenue CAGR of 105.74% in the last two years, making it the 25th fastest-growing German startup.Bezahl (+102.96% revenue CAGR)Bezahl platform, Source: BezahlBezahl is a digital payment management platform for car dealerships. The platform automates, digitizes and simplifies the entire receivables process, from payment request to 100% data quality for automated posting in accounting systems.Operated by Aufinity Group, a company founded in 2018 and based in Cologne, Bezahl claims it has already won more than 80% of the top 100 German car dealers and is now starting its internationalization in Europe. In the last two years, Bezahl achieved a revenue CAGR of 102.96%, making it the 26th fastest-growing startup in Germany.Secjur (+84.8% revenue CAGR)Secjur illustration, Source: SecjurFounded in 2018, Secjur is a Hamburg-based company that provides an automated compliance platform using AI technology. The company’s platform, known as the Digital Compliance Office (DCO), helps businesses streamline compliance processes in areas such as data security, AML and whistleblowing.Secjur has already gained significant traction with partnerships established with the likes of Mercedes Benz, Samsung and Tomorrow Bank. The startup secured EUR 5.5 million in December 2022. It recorded a revenue CAGR of 84.8 in the last two years, making it the 33rd fastest-growing German startup.Timeless (+76.27% revenue CAGR)Timeless illustration, Source: TimelessTimeless is a wealthtech startup specialized in unique collectibles such as art, watches, classic cars, and whiskies. Through its digital platform and the use of blockchain technology, Timeless enables fractional investments starting at just EUR 50, allowing individuals to benefit from the value appreciation of these tangible assets.Timeless, a brand of New Horizon, a company based in Berlin and founded in 2018, claims it has tokenized over 600 collectibles to date, totaling more than EUR 27 million in value. The company achieved a revenue CAGR of 76.27% in the last two years, making it the 35th fastest-growing startup in Germany.Spotixx (+73.21% revenue CAGR)How does safeAML work, Source: SpotixxFounded in 2019, Spotixx specializes in AI-driven solutions for financial crime detection. The company’s advanced solutions help banks effectively address the challenges of fraud and money laundering.With safeAML, a large-scale project developed in collaboration with industry partners, Spotixx connects banking data to create a powerful tool in the fight against financial crime. At the same time, its add-on products AMALIA and FREDDY bring AML- and fraud monitoring into the AI-era, enhancing banks’ existing systems with advanced AI capabilities.Spotixx achieved a revenue CAGR of 73.21% in the last two years, making it the 38th fastest-growing startup in Germany.ProNoblis (+66.4% revenue CAGR)ProNoblis logo, Source: ProNoblisFounded in 2013, ProNoblis is a SME financing company based in Berlin. The company’s core product is a buy now, pay later (BNPL) solution for business-to-business (B2B) clients that helps SMEs financing the purchase of goods.ProNoblis leverages a strong distribution network, strategic partnerships, and AI-driven technology to deliver scalable, automated financial solutions through its flagship product, CreditEngine. CreditEngine is a digital platform that offers a fully automated credit process with a three-minute decision time, self-service features, and AI-powered rating.ProNoblis achieved a revenue CAGR of 66.4% in the last two years, making it the 41st fastest-growing startup in Germany.Prestatech (+41.42% revenue CAGR)Prestatech illustration, Source: Prestatech via LinkedInFounded in 2021, Prestatech is a cloud-based platform that provides modern underwriting solutions for lenders and innovative embedded finance products for commercial players. Through its platform, Prestatech offers banks API solutions based on AI, algorithms and big data. The services focus on end-to-end digital credit processes.Prestatech is currently active with major European players including Fabrick and Banca AideXa. The startup achieved a revenue CAGR of 41.42% in the last two years, making it the 46th fastest-growing startup in Germany.Pair Finance (+35.32% revenue CAGR)Pair Finance mockup, Source: Pair FinanceFounded in 2016 and headquartered in Berlin, Pair Finance s a leading fintech for digital debt collection and receivables management. The company is transforming the debt collection industry with its sustainable, digital, efficient, and customer-centric approach. Using AI, behavioral psychology and data science, Pair Finance is setting a new standard in debt collection that supports businesses and consumers alike.Pair Finance, which claims more than 500 business customers, achieved a revenue CAGR of 35.32% in the last two years, making it the 49th fastest-growing startup in Germany.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/germanys-12-fastest-growing-fintech-startups-in-2024</link><guid>3787</guid><author>Administrator</author><dc:content /><dc:text>Germany’s 12 Fastest-Growing Fintech Startups in 2024</dc:text></item><item><title>Schweizer Krypto-Anleger Studie: Revolut, Swissquote und Binance führend</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie Bedeutung von Kryptowährungen hat in den letzten Jahren stark zugenommen.In der Schweiz investieren 11 Prozent der Bevölkerung in Krypto-Anlagen. Die meisten Personen tun dies aus Interesse und Neugier mit verhältnismässig kleinen Beträgen – und weniger aus Rendite- oder Diversifikationsgründen.Mit der zunehmenden Verbreitung von Kryptowährungen bieten immer mehr Banken den Handel mit digitalen Anlagen über das E-Banking und Mobile Banking an. In einer Studie hat die Hochschule Luzern (HSLU) im Auftrag von PostFinance untersucht, wer in Krypto-Anlagen investiert und aus welchen Gründen dies geschieht.Es ist die erste umfassende und repräsentative Studie zum Thema Krypto-Anlagen von Privatpersonen in der Schweiz.Hohe Bekanntheit – moderates InteresseDas Interesse an Krypto-Anlagen ist in der Schweizer Bevölkerung insgesamt mässig. Rund 8 Prozent sind eher stark oder sehr stark daran interessiert, wobei das Interesse bei jüngeren Generationen, bei Männern und bei Personen mit hohem Einkommen stärker ausgeprägt ist (Abbildung 1).Gleichzeitig kennt die Mehrheit der in der Schweiz lebenden Personen inzwischen zumindest die bekanntesten Kryptowährungen wie Bitcoin (87 Prozent) und Ether (35 Prozent) (Abbildung 2). Trotzdem haben 82 Prozent der Bevölkerung noch nie in Krypto-Anlagen investiert.Abbildung 1: Besitz von Krypto-Anlagen nach demografischen Merkmalen (Besitz aktuell und früher)Nur wenige handeln aktiv und mit grösseren BeträgenAndreas DietrichKrypto-Anlagen geniessen zwar in den Medien hohe Aufmerksamkeit, wie Studienautor Prof. Dr. Andreas Dietrich von der HSLU sagt.«Das erweckt den Eindruck, dass viele in der Schweiz wohnhafte Personen aktiv in diesem Markt investieren oder handeln.»In Wirklichkeit besitzen aktuell nur 11 Prozent der Bevölkerung Krypto-Anlagen. Von dieser Gruppe handelt nur etwa jede siebte Person aktiv oder mit grösseren Beträgen. Dietrich:«Dies bedeutet, dass Krypto-Anlagen insgesamt derzeit wohl lediglich für etwa 1 bis 2 Prozent der Bevölkerung eine hohe Bedeutung haben.»Neugier statt Rendite und DiversifikationDie Mehrheit der Krypto-Investorinnen und -Investoren engagieren sich mit kleinen Beträgen in dieserAnlageform. Dies deutet laut Andreas Dietrich darauf hin, dass viele Investitionen einen eher experimentellen Charakter haben. So halten 31 Prozent der Befragten weniger als CHF 1’000 in Krypto-Vermögen. Als Hauptmotiv für diese Investitionen nennen die Anlegerinnen und Anleger vor allem die Neugierde (Abbildung 2).Abbildung 2: Gestützte Bekanntheit von Krypto-AnlagenDie populärsten Kyrpto Handelsplatformen in der Schweiz: Revolut, Swissquote und BinanceDie Nutzung von Renditechancen und die Diversifikation des Portfolios sind nicht unwichtig, spielen aber insgesamt für viele Investorinnen und Investoren (noch) eine untergeordnete Rolle. Die bei Krypto-Anlegerinnen und Anlegern populärsten Anbieter für den Handel von Krypto-Anlagen sind Revolut, Swissquote und Binance.Wachstumspotenzial von Krypto-AnlagenDie potenziellen Krypto-Anlegerinnen und -Anleger lassen sich in drei Gruppen unterteilen: Jene, die aktuell in Krypto-Anlagen investieren, jene, die es noch nie getan haben und Ehemalige, die es momentan nicht mehr tun. Die Analyse zeigt, dass es herausfordernd ist, Neukunden zu gewinnen, die bisher keinen Kontakt mit Krypto-Anlagen hatten.Aus Sicht von Andreas Dietrich liegt das grösste Potenzial für Finanzdienstleister bei den bestehenden Investorinnen und Investoren über den Ausbau ihrer Investments. Es ist aber auch möglich, dass die Befragten das langfristige Potenzial selbst unterschätzen. Dazu sagt Dietrich:«Die Integration von Krypto-Anlagen in die Angebote etablierter Schweizer Banken verdeutlicht den wachsenden Einfluss dieser Anlageklasse. Durch den einfachen Zugang über das E- und Mobile-Banking wird die Verbreitung von Krypto-Anlagen in der Bevölkerung weiter steigen.»Abbildung 3: Gründe für die Investition in Krypto-AnlagenEin Hinweis auf das Potenzial zeigt sich auch darin, dass Wertschriften-Anlegerinnen und -Anleger deutlich häufiger in Krypto-Anlagen investieren als Personen, die nicht in Wertschriften anlegen.Gemäss der Studie legen 18 Prozent der Wertschriften- Anlegerinnen und Anleger in Krypto-Anlagen an. Damit sind diese Krypto-Anlagen zwar weniger bedeutend als klassische Anlagekategorien wie Aktien, Fonds oder Obligationen. Es wird aber deutlich häufiger in Krypto-Anlagen investiert als in Derivate (z.B. Optionen).Titel-Bild Nachweis: Bearbeitet von freepik]]></description><link>https://fintechnews.eu/schweizer-krypto-anleger-studie-revolut-swissquote-und-binance-fuhrend</link><guid>3788</guid><author>Administrator</author><dc:content /><dc:text>Schweizer Krypto-Anleger Studie: Revolut, Swissquote und Binance führend</dc:text></item><item><title>LSEG Taps IDVerse to Combat Deepfakes, Enhance Digital Identity Verification</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe London Stock Exchange Group (LSEG) has partnered with IDVerse to strengthen its digital identity verification services.LSEG aims to combat the growing threat of digital deception, including synthetic media and deepfakes.This collaboration will integrate IDVerse’s advanced technology, including its fully automated “Zero Bias AI,” which leverages regenerative AI, into LSEG’s existing spectrum of risk solutions.This AI-powered tool aims to provide accurate identity verification while minimising potential bias based on race, age, and gender.The partnership will focus on improving the speed and reliability of document and biometric checks, addressing issues of accessibility and fraud prevention.This is crucial in today’s rapidly evolving digital landscape where IDVerse reports that one in four fraud attempts now involve some form of digital deception.Both companies emphasise the importance of creating interoperable systems that can be customised to meet the specific needs of each customer.This offers a next-generation workflow without compromising on security or user experience.By enhancing digital identity verification, LSEG and IDVerse aim to improve access to vital services while ensuring legal and regulatory compliance for global operations and maintaining trust and security.Daniel FloweDaniel Flowe, Head of Digital Identity at LSEG, said,“Onboarding IDVerse complements LSEG’s identity verification capabilities and adds yet another means of low-friction, high assurance identity verification for our customers. IDVerse’s ability to scale across a huge variety of geographies and customer verification use cases allows us to offer our customers a future-proofed solution to digital identity verification.To give our customers confidence, we extensively tested IDVerse’s interoperability, performance, and agility to ensure that it matched our existing best-in-class standards. This combination gives us a truly next generation workflow to bring to market.”John MyersJohn Myers, CEO, IDVerse added,“The pace of evolution in digital deception that identity platforms like LSEG required a tool that adapts to new fraud vectors whilst giving a great customer experience to good customers. This is illustrated by IDVerse now experiencing 1 in 4 fraud attempts involving digital deception.The partnership with LSEG allows businesses to remain open to new opportunities whilst adapting to a changing world. Their spectrum of risk solutions, all from one trusted partner, helps organisations efficiently navigate risks, avoid reputational damage, reduce fraud and ensure legal and regulatory compliance around the globe”.Featured image credit: Edited from freepik]]></description><link>https://fintechnews.eu/lseg-taps-idverse-to-combat-deepfakes-enhance-digital-identity-verification</link><guid>3789</guid><author>Administrator</author><dc:content /><dc:text>LSEG Taps IDVerse to Combat Deepfakes, Enhance Digital Identity Verification</dc:text></item><item><title>12 Swiss Firms to Showcase Expertise at Singapore Fintech Festival 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTwelve Swiss companies representing various aspects of the Swiss financial system will participate in the Singapore Fintech Festival 2024 (SFF 2024), held from 6 to 8 November at the Singapore Expo.This marks the eighth year of Swiss presence at the festival, organized under the Swiss Pavilion by Switzerland Global Enterprise (S-GE) and the Swiss Business Hub South East Asia + Pacific.The Swiss delegation aims to demonstrate the strengths of their fintech industry, emphasizing Switzerland’s reputation for trustworthiness, quality, and innovation.SFF 2024 will focus on six key themes, including the Roadmap for AI &amp; Quantum, Blueprint for Digital Assets, Next-Gen Transactions, Sustainability in Action, Bridging the Financial Gap, and Talent of Tomorrow.The event is expected to attract global leaders from government, finance, investment, and technology sectors.Returning participants are aiming to build on their existing presence in Singapore and the broader ASEAN market.Switzerland’s financial sector is recognized for blending tradition with innovation, contributing to its standing as a global leader in financial services.The country has retained its top-ranked position in the 2024 Global Innovation Index by WIPO, marking 14 consecutive years of leadership in innovation.S-GE, acting on behalf of the Swiss Confederation and cantons since 1927, supports more than 5,500 Swiss companies in expanding internationally each year.It also facilitates foreign companies’ investments in Switzerland through its global network, including the Swiss Business Hub South East Asia + Pacific.Renee KohRenee Koh, Deputy Head of Swiss Business Hub South East Asia + Pacific said,“The steadfast support from Swiss financial institutions and fintech companies at SFF 2024 underscores our commitment to bringing innovative Swiss enterprises to Singapore, empowering them to establish a strategic foothold in Southeast Asia.Swiss solutions are globally acclaimed for their robust, time-tested reliability and strict adherence to regulatory frameworks. This proven excellence positions Swiss companies as invaluable partners for Asian market players, providing a clear competitive edge in navigating the region’s complex and dynamic environments”.Featured image credit: Edited from freepik]]></description><link>https://fintechnews.eu/12-swiss-firms-to-showcase-expertise-at-singapore-fintech-festival-2024</link><guid>3770</guid><author>Administrator</author><dc:content /><dc:text>12 Swiss Firms to Showcase Expertise at Singapore Fintech Festival 2024</dc:text></item><item><title>Swissquote Introduces Fractional Trading and a New Investment Saving Plan</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwissquote announced the launch of its new fractional trading feature, along with a new “Saving Plan” order type.These innovations are designed to meet the growing demand for flexible and affordable investment options, enabling investors to build a diversified portfolio over time, regardless of their budget.In today’s market, many investors seek the possibility to invest smaller amounts across a broad range of assets, spreading risk and enhancing potential returns. Until now, Swissquote’s platform supported only the trading of full shares, which limited clients to strategies constrained by share prices rather than their available cash. This new feature allows investors to purchase fractions of the most popular stocks, ETFs, cryptocurrencies and Themes Trading products, providing them with the opportunity to invest any amount and gradually build a robust portfolio.Jan De SchepperJan De Schepper, Chief Sales and Marketing Officer at Swissquote, emphasised the significance of these advancements:“Our mission at Swissquote has always been to democratise investing and empower our clients with the tools they need to achieve their financial goals. With the introduction of fractional trading and the new “Saving Plan”, we are offering our clients unprecedented flexibility and control over their investments. This solution not only meets the market demand but sets a new standard in the industry.”Swissquote’s “Saving Plan” allows clients to set up recurring investments with the freedom to adjust them based on their available funds, ensuring they can maintain their desired level of diversification.Investing starts as of today at the reduced price of CHF 3 per trade for shares, making fractional trading an accessible and attractive option for all investors.These platform upgrades and the new reduced pricing are now available to all Swissquote clients.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/swissquote-introduces-fractional-trading-and-a-new-investment-saving-plan</link><guid>3771</guid><author>Administrator</author><dc:content /><dc:text>Swissquote Introduces Fractional Trading and a New Investment Saving Plan</dc:text></item><item><title>AI Takes Center Stage in Banks’ Digital Transformation Strategy</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxArtificial intelligence (AI) is taking center stage in banks’ digital transformation plans as financial institutions seek to improve customer experiences and operational efficiencies. According to a new study conducted by Publicis Sapient, a leading American digital consulting company, banks are spending 29% of their investments in customer experience digital transformation on machine learning (ML), AI and generative AI (genAI). Banks are also placing AI as their biggest focus for digital transformation over the next three years.These findings come from the Global Banking Benchmark Study 2024, which surveyed more than 1,000 senior retail and commercial banking leaders in early 2024. The study, which sought to explore the maturity of banks’ digital transformation initiatives, reveals that banks are actively exploring AI’s potential, with executives highlighting data and AI as the most critical areas for digital transformation, followed by genAI for internal use.Interestingly, developing existing talent is executives’ third most common functional focus for digital transformation, suggesting that executives are equally focused on the human side of the human-machine equation and recognize the need to prepare their employees to work with AI.The study also found strong interest from banks in deploying genAI across both internal and customer-facing use cases. 61% of respondents want to use genAI to streamline transaction-related functions such as credit analysis, underwriting, and contract management. Additionally, 55% are focused on deploying genAI for employee and internal functions such as developer tools, search capabilities, and virtual assistants. Meanwhile, 49% are targeting customer-facing roles, such as marketing and customer service.Focus areas for genAI deployment among banks, Source: The Global Banking Benchmark Study 2024, Publicis Sapient, 2024The study, which categorized banks into four groups based on their digital transformation maturity, found that the top performers, labelled “Transformation Leaders”, are at the forefront of AI adoption. These banks allocate 34% of their digital transformation budget to AI, ML, and genAI, a proportion that’s 6% more than the least mature banks, or “Laggards”, and which stands above the industry average.Percentages of investment in digital transformation allocated to AI/ML/genAI, Source: The Global Banking Benchmark Study 2024, Publicis Sapient, 2024Transformation Leaders aren’t just spending more on AI, ML and genAI, they are spending differently. 44%  prioritize AI tools for internal use, while just 25% of Laggards do. Moreover, 84% of Transformation Leaders agree that it’s better to take time to develop custom-made AI tools rather than save time by using third-party solutions, compared to just 70% of Laggards.Transformation Leaders are also laying the groundwork to support AI integration. These players are heavily investing in key areas such as cloud infrastructure and migration, data and analytics, and organizational culture changes.Despite the clear commitment to AI and digital transformation, banks are facing growing challenges. The study found that the process of digital transformation has become more difficult over the past years, with respondents citing regulatory challenges, the lack of operational agility, and outdated legacy technology as their top barriers in the past 12 months.Budget constraints are another significant obstacle. In 2024, 32% of banking executives cited budget limitations as a key hurdle to digital transformation, up from 19% in 2022.But despite these challenges, the outlook for AI adoption in the banking sector remains strong. Gartner predicts that by 2026, more than 80% of banks will have adopted genAI, driven by the technology’s potential to improve efficiencies, customer service and risk management. McKinsey and Company estimates that across the global banking sector, genAI could add between US$200 billion and US$340 billion in value annually, or 2.8 to 4.7% of total industry revenues, largely through increased productivity.Featured image credit: freepik]]></description><link>https://fintechnews.eu/ai-takes-center-stage-in-banks-digital-transformation-strategy</link><guid>3772</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/10/Focus-areas-for-genAI-deployment-among-banks-Source-The-Global-Banking-Benchmark-Study-2024-Publicis-Sapient-2024.png</dc:content ><dc:text>AI Takes Center Stage in Banks’ Digital Transformation Strategy</dc:text></item><item><title>Swiss Banks Embrace Blockchain, Prioritizing Cryptocurrencies, HSG Study Finds</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn Switzerland, financial institutions are increasingly recognizing the long-term potential of blockchain and integrating the technology into their growth strategies.According to a new study by the University of St. Gallen, in collaboration with vision&amp; and mintminds, more than 80% of Swiss banks are either planning to develop and actively expanding their blockchain offerings, with a particular focus on cryptocurrencies.Conducted between April to June 2024, the study polled 19 banks in Switzerland, including retail (47%), private banks (37%), universal (11%) and investment banks (5%) to understand the blockchain strategies, priorities, and challenges these institutions face as they integrate blockchain technology, cryptocurrencies and tokenized assets.The research found that over 60% of banks in Switzerland are pursuing concrete plans related to cryptocurrencies, with half of these institutions considering the development and expansion of their crypto offerings as highly prioritized. This underscores growing interest and acceptance of cryptocurrencies within the traditional banking sector, the report says.Planned offerings in the blockchain sector, Source: Blockchain für Finanzdienstleister, University of St.Gallen, 2024A focus on crypto custodian, trading and ETP productsWhen looking at planned crypto offerings, the study found that approximately 60% of banks are either looking to implement or have already implemented custodial services, underscoring the importance of these offerings in the crypto space.Trading services, which allow for the buying and selling for cryptocurrencies, are another critical component of the crypto industry, prioritized by around 60% of banks.Exchange-traded products (ETPs) and certificates, which are financial instruments that track the value of cryptocurrencies and which can be traded on traditional stock exchanges, are also perceived by Swiss banks as critical. Around 60% of respondents intend to offer these products, highlighting ETPs as an attractive alternative for investors to participate in the crypto space.Planned offerings in the area of cryptocurrencies, Source: Blockchain für Finanzdienstleister, University of St.Gallen, 2024Cryptocurrencies are still in the early stages of market development. Currently, only 0.53% of total assets under management (AuM) are invested in the asset class. While this figure may appear low at first glance, it is significant. Many Swiss banks have only recently introduced their crypto offerings, suggesting substantial interest in the asset class and considerable growth potential, the report says.The rise of tokenized assetsSwiss banks are also showing strong interest in tokenized assets. These are physical or digital assets that have been converted into digital tokens on a blockchain, making them easier to trade, divide and track.According to the study, 47% of the Swiss banks polled are planning to develop a tokenized asset offering, reflecting a clear interest and confidence in the future of this technology. However, most banks remain in the nascent stages of implementing tokenized asset offerings, indicating that many institutions are just starting to familiarize themselves with the technology and its application possibilities.Industry stakeholders are optimistic about the prospects of tokenization due to its transformative benefits, including increased liquidity, transparency, and efficiency. Global consulting firm Boston Consulting Group (BCG) and digital exchange ADDX forecast that asset tokenization will expand into a US$16.1 trillion business opportunity by 2030, driven by greater access to private markets, improved liquidity, and increased recognition by monetary authorities.Blockchain strategyThe study conducted by the University of St. Gallen revealed that nearly 60% of the banks surveyed have already developed or are working on a blockchain strategy. This includes 16% of institutions that rank blockchain topics as highly prioritized. Almost all banks with an existing strategy have management support and launched their first blockchain offering in 2023 or earlier.When asked about their motivations for adopting blockchain, more than 40% of the institutions said they viewed the technology primarily as an innovation driver. Additionally, 21% of the institutions are investing in blockchain as a growth driver, pursuing an offensive strategy and expecting strong growth in managed assets and customer numbers. In contrast, nearly 11% of all banks are adopting a defensive approach, investing in blockchain as a means against customer losses and withdrawals of managed assets.What is the primary motivation for the blockchain initiatives in your organization?, Source: Blockchain für Finanzdienstleister, University of St.Gallen, 2024Swiss banks are also exploring more advanced applications of blockchain technology, with 58% reporting active efforts in this area. Their primary motivation is a general willingness to innovate.The study also found that larger banks and those with more employees involved in blockchain projects are more likely to integrate advanced blockchain applications into their business strategies. This implies that bigger banks with more resources tend to be further along in implementing blockchain.Prioritization of additional blockchain applications, Source: Blockchain für Finanzdienstleister, University of St.Gallen, 2024Featured image credit: edited from freepik here and here]]></description><link>https://fintechnews.eu/swiss-banks-embrace-blockchain-prioritizing-cryptocurrencies-hsg-study-finds</link><guid>3773</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/10/Planned-offerings-in-the-blockchain-sector-Source-Blockchain-fur-Finanzdienstleister-University-of-St.Gallen-2024.png</dc:content ><dc:text>Swiss Banks Embrace Blockchain, Prioritizing Cryptocurrencies, HSG Study Finds</dc:text></item><item><title>Relio bietet neu internationale Transaktionen, Fremdwährungen und Multi-Währungs-Konten</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDas Schweizer Fintech Relio, das als Anbieter von Geschäftskonten mit Schweizer IBAN bekannt ist, lanciert internationale Transaktionen, Fremdwährungen (FX) und Multi-Währungs-Konten.Der erweiterte Service profitiert von der fortschrittlichen AML- und Compliance-Technologie von Relio, welche das Monitoring von Transaktionen anhand von über 100 Datenpunkten auf jeden Kunden zuschneidet und so einen reibungslosen und effizienten grenzüberschreitenden Zahlungsverkehr gewährleistet.Globales Business, Schweizer Zuverlässigkeit.Vor einem Jahr lancierte Relio, als eines von nur fünf Instituten mit einer Fintech-Lizenz der FINMA, voll digitale Geschäftskonten für Freelancer, KMU, Start-ups und Firmenkunden.Dieses Angebot umfasste Schweizer IBANs und CHF-Konten für Inlandszahlungen. Nun erweitert Relio seine Funktionen mit internationalen Zahlungen, Fremdwährungen und Multi-Währungs-Konten. Zum Start unterstützt der Service CHF, EUR sowie GBP und ermöglicht Transaktionen in über 40 Länder. Weitere Währungen und Länder werden demnächst hinzugefügt.Maximale Compliance und minimale Reibung.Grenzüberschreitende Transaktionen sind oft mit komplexen regulatorischen Anforderungen verbunden, die von den Finanzinstituten verlangen, die Rechtmässigkeit der Geldflüsse zu überprüfen, die Herkunft der Gelder zu dokumentieren und den Zweck der Transaktionen nachzuvollziehen. Typischerweise sehen sich Unternehmen bei internationalen Zahlungen mit Verzögerungen und Unterbrechungen konfrontiert, die auf regulatorische Herausforderungen und falsch positive Compliance-Warnungen zurückzuführen sind.Relio will mit seiner neu entwickelten Technologie die Compliance im internationalen Zahlungsverkehr neu definieren. Die Plattform automatisiert viele AML- und Compliance-Workflows und sammelt über 100 Datenpunkte während des Kunden-Onboardings, um sowohl einfache als auch komplexe Geschäftsmodelle zu unterstützen.Das automatisierte Compliance-System von Relio beschleunigt die Kontoeröffnung und nutzt die gesammelten Daten für die Transaktionsüberwachung, um dem individuellen Geschäftsprofil eines jeden Kunden gerecht zu werden.Dieser datengesteuerte Ansatz verbessert die Erkennung verdächtiger Aktivitäten bei gleichzeitiger Minimierung von falsch-positiven Meldungen und sorgt für eine reibungslose, schnelle und zuverlässige Abwicklung. Das Ergebnis ist, dass sowohl die Kunden als auch Relio erheblich weniger Zeit und Ressourcen für die Einhaltung der Vorschriften im grenzüberschreitenden Zahlungsverkehr aufwenden müssen.Titelbild Nachweis: Bearbeitet von freepik]]></description><link>https://fintechnews.eu/relio-bietet-neu-internationale-transaktionen-fremdwahrungen-und-multi-wahrungs-konten</link><guid>3774</guid><author>Administrator</author><dc:content /><dc:text>Relio bietet neu internationale Transaktionen, Fremdwährungen und Multi-Währungs-Konten</dc:text></item><item><title>Swiss Retail Banks Unfazed by Fintech, Bigtech Competition, New Study Finds</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwiss retail banks expect technology to increase competition but not as dramatically as anticipated.A new study by auditing and consulting firm EY, in collaboration with the University of St. Gallen, reveals that while incumbents are aware that bigtechs, neobanks and fintech companies are driving innovation, they remain confident that their ability to maintain strong customer relationships and deliver high-quality advice will help them retain a competitive edge.The “Retail Banking 2035” report, released in September 2024, shares insights from 33 retail banks in Switzerland on ten key areas thesis about the future of retail banking. It identifies the most important challenges and opportunities facing the industry through 2035.Impact of technology is overestimatedThe research found that Swiss retail banks expect technological innovations to intensify competition in the medium term. However, the short-term impact of cutting-edge technologies such as artificial intelligence (AI), blockchain and quantum computing are largely overestimated.Innovative technologies will lead to greater competition in the medium term, Source: Retail Bank Study 2035, EY and the University of St. Gallen, Sep 2024Swiss retail banks believe that for a new technology to have a significant impact, it must align with customers. However, these needs are not expected to change dramatically in the next ten to fifteen years. Employees and customers also have to want to use this new technology, the respondents said.Taking the example of AI, the respondents said that while the technology has received a lot of hype, it is still perceived as merely a tool for increasing efficiency and improving chatbots, with applications like robo-advisors receiving mixed success.Traditional banks’ strengths over newcomersDespite the rise of fintech, Swiss banks believe they still maintain several advantages over competitors. These advantages, which include capital strength, brand trust, a diverse product offering and long-established customer relationships, position incumbents well against fintech companies and neobanks, whose market penetration remains limited due to smaller customer bases and challenges in scaling their business models.The respondents argue that while Switzerland has seen a sharp increase in fintech companies, which grew from less than 200 players in 2016 to nearly 500 in 2023, the experience with these new providers has not been very dramatic so far.Moreover, fintech companies have not been able to revolutionize the business. If anything, they are actually moving steadily in the direction of the traditional banks.Finally, Swiss retail banks expect that the vast majority of local customers will continue to seek personal advice in the future, especially during key life events such as buying a home, saving for a pension or wills and inheritance. This means that traditional banks will maintain an edge over new market entrants.Minimal threat from bigtechs, retailers and telcosWhen it comes to bigtechs, Swiss retail banks feel that the country’s small size and peculiarities, such as its four national languages, many cantons and different cultures, represent significant challenges for the likes of Apple and Google.Additionally, banking regulations and the high level of trust that Swiss customers place in domestic financial institutions make it difficult for bigtech companies to compete directly.Swiss retail banks are also unconcerned about competition from domestic retailers and telecom companies. Although these players have access to vast amounts of customer data and the tools to use these data to offer financial services through open banking, they would not be able to maintain accounts or lend due to regulatory restrictions. This would limit their potential and ability to compete in the sector.If competition from outside the banking industry is to intensify, Swiss banks believe insurers are their most likely threat. This is because insurance advisors traditionally have a closer relationship with their customers than bank advisors, giving them an edge in personal interactions and trust.Overall, Swiss retail banks perceive their biggest competition as coming from within the industry itself. According to the respondents, this is because all of the retail banks in the country are pursuing technological upgrades, and that none of them has achieved groundbreaking results so far. For example, the introduction of digital pension solutions prompted competitors to respond with similar solutions designed to boost volumes. However, in the end, no one saw an increase in volumes.How strongly is technology-driven competition being fuelled by the following players?, Source: Retail Bank Study 2035, EY and the University of St. Gallen, Sep 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/swiss-retail-banks-unfazed-by-fintech-bigtech-competition-new-study-finds</link><guid>3775</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/10/Innovative-technologies-will-lead-to-greater-competition-in-the-medium-term-Source-Retail-Bank-Study-2035-EY-and-the-University-of-St.-Gallen-Sep-2024.png</dc:content ><dc:text>Swiss Retail Banks Unfazed by Fintech, Bigtech Competition, New Study Finds</dc:text></item><item><title>radicant und Numarics wollen fusionieren</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie radicant bank und das von der UBS finanzierte Treuhand Fintech Numarics streben den Zusammenschluss an und haben entsprechende Verträge unterzeichnet.Vorbehaltlich der Zustimmung der zuständigen Behörden wird durch diesen Zusammenschluss ein umfassendes Angebot geschaffen, welches die nahtlose Integration von Finanzdienstleistungen und digitalen Lösungen in den Alltag von Privatpersonen und KMU ermöglicht.Künftig will man gemeinsam unter dem Namen radicant auftreten.Durch den Zusammenschluss entsteht eine integrierte Banking- und Administrations-Plattform für Private und Unternehmenskunden. Bestehende Dienstleistungen und Produkte von radicant im Bereich Banking, Investment und Vorsorge für Privatkunden werden durch eine umfassende digitale Administrationslösung von Numarics erweitert.Gleichzeitig wird das Administrations- und Treuhand-Angebot der Numarics für Geschäftskunden durch ein digitales Bankkonto ergänzt, wodurch ein durchgängiges Angebot entsteht, welches sich vor allem an kleinere und mittlere Unternehmen richtet.Ganzheitliches Finanzangebot für Privat- und KMU-KundenAnton Stadelmann«Wir machen mit dem geplanten Zusammenschluss den nächsten grossen Schritt hin zu einem ganzheitlichen Finanzangebot»,sagt Anton Stadelmann.«Privat- und KMU-Kunden werden von einem digitalen Dokumentenmanagementsystem und digitalen Lösungen profitieren können. Das reduziert die Zeit, die sie heute noch für administrative Aufgaben benötigen, auf ein absolutes Minimum. Wir wollen Banking noch smarter machen.»Kristian Kabashi«Mit der Integration von Bankfeatures in unsere Administrationsprozesse werden wir einen wichtigen Schritt in Richtung Automatisierung und vollintegriertes, digitales Ökosystem schaffen.»,sagt Kristian Kabashi, Mitgründer von Numarics, und ergänzt:«Der Vorteil dabei ist, dass sich die Unternehmenskunden ganz auf ihr Kerngeschäft konzentrieren können. Das führt zu einer spürbaren Erleichterung im Alltag und im Geschäftsleben.»Designierter CEO des neuen Unternehmens wird Anton StadelmannDie Basellandschaftliche Kantonalbank (BLKB) bleibt Mehrheitsaktionärin, neben den bisherigen Finanzinvestoren von Numarics, wie Founderful, FiveT, SeedX, Davidson Capital sowie der UBS.]]></description><link>https://fintechnews.eu/radicant-und-numarics-wollen-fusionieren</link><guid>3776</guid><author>Administrator</author><dc:content /><dc:text>radicant und Numarics wollen fusionieren</dc:text></item><item><title>Open Banking kombiniert mit KI – ein Game-Changer?</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie Schweizer Banken arbeiten an Open Banking. Der Bundesrat sieht sogar Fortschritte bei Umsetzung.Doch die Menschen in der Schweiz spüren davon noch nichts. Das hat damit zu tun, dass «die Ziele […] noch nicht vollständig erreicht sind», so der Bundesrat. Schade eigentlich, denn die Möglichkeiten von Open Banking könnten für Bankkunden einen echten Mehrwert bieten – vor allem, wenn sie mit den Möglichkeiten von KI kombiniert werden.Bankkunden arbeiten für die BankenHeute haben Schweizerinnen und Schweizer im Durchschnitt zwei Bankbeziehungen. Ob das für sie immer die besten Bankbeziehungen sind, ist fraglich. Denn Bankkundinnen und -kunden bezahlen oft zu viel Gebühren und erhalten zu wenig Zinsen. Das hat hauptsächlich damit zu tun, dass sie die Konditionen der Banken nicht kennen – auch der Hausbank nicht.Schweizer Bankkunden «verschenken» so rund 13.4 Milliarden Franken pro Jahr. Allein bei Sparkonten (2.5 Mrd.) und Privatkonto/Debitkarte (2 Mrd.) – also Produkten, die jeder hat – sind das rund 500 Franken pro Einwohner. Schweizerinnen und Schweizer arbeiten also im Durchschnitt eineinhalb Tage, um bei ihrer Bank nicht die besten Konditionen zu haben.Und trotzdem wechseln sie ihre Bankbeziehung nicht. Warum nicht? Weil sie den Aufwand scheuen. Nicht nur den Aufwand für die Kontoeröffnung, sondern auch den Aufwand, das Geld zu verwalten: «Wäge dem Bitzeli…»idibeko – mein TraumOpen Banking kombiniert mit künstlicher Intelligenz hat das Potential, den Markt zu verändern. Stellen Sie sich folgendes Szenario vor:Alle meine Bankkonten sind über Open Banking mit dem (fiktiven) Service «idibeko» («immer die besten Konditionen) verbunden. idibeko kennt die Konditionen (Zinsen, Rückzugsbedingungen etc.) aller meiner Konten – und die aller anderen Banken. Da idibeko Zugriff auf alle meine Konten hat, kann es meinen Liquiditätsbedarf analysieren und eine entsprechende Planung erstellen.Basierend auf dieser Analyse schlägt idibeko immer die beste Anlagemöglichkeit für meine Finanzen vor. Die Umschichtungsvorschläge können per Knopfdruck akzeptiert werden – die Umsetzung übernimmt idibeko.Wenn idibeko ein besseres Produkt bei einer Bank findet, bei der ich noch kein Konto habe, bietet idibeko mir direkt die Kontoeröffnung an. Dank der neuen e-ID kann idibeko in Zukunft (vielleicht) die Kontoeröffnung selbst übernehmen und die Überweisung vornehmen, sobald das Konto verfügbar ist.Da idebko die Rückzugsbedingungen aller Konten kennt, muss ich nur noch einen Bruchteil auf einem (unverzinsten) Privatkonto halten. Denn wenn ich mal mehr Liquidität brauche, zieht idibeko die benötigte Summe von den verschiedenen Banken und Konten zusammen – so dass keine Rückzugslimite verletzt wird.Damit idibeko nicht einfach macht, was es will, kann ich Limiten und Wünsche definieren. Einfach als Freitext. Zum Beispiel so: «Ich möchte nicht mehr als 100’000 Kunden bei einer Bank angelegt haben. Verteile das Geld so, dass ich jederzeit 50’000 abheben kann. Berücksichtige nur reine Schweizer Banken. Bei der Bank xy möchte ich nie ein Konto.»Gut für Bankkunden – und für Banken?idibeko wird unweigerlich die Arbeit der Banken verändern.Banken, die heute zusätzliche Kundengelder benötigen, müssen sich heute intensiv um diese bemühen. Es reicht nicht, einfach die Zinsen zu erhöhen. Potenzielle Kunden müssen erst einmal vom Angebot erfahren. Es muss Werbung gemacht werden. Vergleichsplattformen müssen die neuen Konditionen publizieren – bei neuen Konten, ist das nicht immer so einfach, wie es tönt. Kunden müssen in Einzelgesprächen beraten und überzeugt werden.Ein Kampf gegen die Trägheit der Kunden.Mit idibeko wird das anders. Einfach die Konditionen etwas erhöhen und idibeko optimiert die Verteilung auf die verschiedenen Konten und Banken. Neugeld fliesst schnell und zuverlässig rein – bis eine andere Bank noch bessere Konditionen bietet.Ja, das wird das Bankgeschäft verändern. Einfach die Zinsen senken und darauf wetten, dass die Kunden träge sind und das Geld nicht abziehen, wird nicht mehr funktionieren. Zinsanpassungen müssen wohlüberlegt sein. Nach oben und nach unten.Auch für die Bankkunden brechen neue Zeiten an. Endlich kriegen sie etwas ihr Erspartes.Der alte Slogan «Lass dein Geld für dich arbeiten» wird endlich Wirklichkeit.Dieser Blog Post erschien zuerst auf dem Blog von Claudio GislerTitel-Bild Nachweis: Bearbeitet von Freepik]]></description><link>https://fintechnews.eu/open-banking-kombiniert-mit-ki-ein-game-changer</link><guid>3777</guid><author>Administrator</author><dc:content /><dc:text>Open Banking kombiniert mit KI – ein Game-Changer?</dc:text></item><item><title>AI-Driven Fraud Soars Across Europe Financial Sector, Driven by Deepfakes and Identity Theft</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFraud is surging in Europe’s financial services sector, with both the scale and sophistication of attacks growing on the back of advancements in artificial intelligence (AI).A survey by Signicat, involving 1,206 fraud decision-makers at financial institutions across seven European countries, reveals that 76% of respondents believe fraud is now a bigger threat than three years ago, and 66% specifically view AI-driven identity fraud as a greater concern.The study, conducted by Censuswide in March and April 2024, found that while fraud is increasing overall, some types of fraud are becoming more popular. Deepfakes and impersonalization, in particular, have emerged among the top three most common types of identify fraud reported by financial institutions.What are the most common types of identity fraud you experience?, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024This trend aligns with Signicat’s own experience in detecting deepfake fraud. In 2021, deepfakes accounted for a mere 0.1% of fraud attempts. However, the figure has soared to 6.5% in 2024, marking a staggering 2,137% increase over the period. This sharp increase in deepfake attempted fraud is part of a broader trend, with overall fraud attempts tracked by Signicat rising by 80% over the past three years.Signicat’s real-world fraud data, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024The rise of deepfakesMore specifically, the research found that deepfakes have risen to become the most prevalent threat in eID fraud. These schemes aim to undermine national digital identity systems either by taking over an existing account or creating a false identity.What are the most common types of eID : digital identity fraud you experience?, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024eID systems are digital platforms that allow individuals or organizations to prove their identity online, securely and efficiently. These systems are designed to verify a person’s identity electronically, enabling them to access various services, both public and private, without needing physical documents.While eID are effective against many types of fraud, some criminals are able to subvert these systems, leveraging AI to sample voices and video with striking accuracy to deceive organizations or individuals. For example, a deepfake might prompt a victim to authorize payments where no ID check is required on the fraudster’s end, leaving eIDs ineffective in such scenarios. Deepfakes can also be used to direct victims to fake eID verification sites to steal logins or as part of a “man-in-the-middle” attack.60% of fraud executives polled for the Signicat study stated that eID fraud is a bigger threat today than three years ago, compared to 74% saying the same of fraud in general. This suggests that while eIDs are helping slow the growth of fraud, they are not enough to fully stop it.AI-driven identity fraud, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024The cost of AI-driven fraudOverall, findings from the Signicat survey reveal that criminals are increasingly relying AI to conduct fraud. An estimated 42.5% of detected fraud attempts now use AI, the study found, with 29% of them considered successful. For some respondents, that rate is even higher, with one in nine sharing an estimated AI usage in fraud attempts as high as 70% for their organization.Fraud attempts that use AI, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024These AI-driven frauds are becoming an increasingly expensive challenge. Respondents estimate that, of the revenue loss to fraud, 38% was due to AI-driven identity fraud. This suggests that, while AI-driven identity fraud is not yet more successful than other means of identity fraud, it is more lucrative and used for more sophisticated, high-value scams.A separate analysis by Deloitte’s Center for Financial Services predicts that generative AI (genAI) could enable fraud losses to reach US$40 billion in the US alone by 2027, rising at a compound annual growth rate of 32% between 2023 and 2027. This growth is expected to be fueled by advancements in genAI, which will enable the creation of highly realistic images and videos that can convincingly impersonate individuals.Fraud losses, actual and expected, 2017 to 2027 (US$ billion), Source: Deloitte’s Center for Financial Services, May 2024Businesses embrace technology to address evolving fraud landscapeResults from the Signicat study show that financial services providers are aware of the threat of AI. Over three-quarters of the businesses polled have specialist teams dedicated to the issue of AI-driven identity fraud, are upgrading their fraud prevention technology stack, and expect to have more budget to do so.Attitudes towards deepfakes, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024However, despite this awareness, just under a quarter of respondents have actually started implementing measures. Most are planning to do so in the next year. Smaller organizations are actually further behind, with only 18% having mitigation in place already. This indicates a delay in deploying necessary defenses against AI-driven identity fraud.Timeline to implement AI-driven identity fraud measures, Source: The Battle Against AI-driven Identity Fraud, Signicat, Sep 2024Financial services companies are also adopting advanced technologies to combat this evolving threat. JP Morgan, for example, uses the AI to reduce fraud, streamline payment validations, and improve overall customer satisfaction.Additionally, companies are partnering with tech firms to enhance their fraud detection capabilities. For example, Microsoft has partnered with risk assessment firm Moody’s to develop enhanced risk, data, analytics, research and collaboration solutions powered by genAI.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/ai-driven-fraud-soars-across-europe-financial-sector-driven-by-deepfakes-and-identity-theft</link><guid>3778</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/10/What-are-the-most-common-types-of-identity-fraud-you-experience-Source-The-Battle-Against-AI-driven-Identity-Fraud-Signicat-Sep-2024.png</dc:content ><dc:text>AI-Driven Fraud Soars Across Europe Financial Sector, Driven by Deepfakes and Identity Theft</dc:text></item><item><title>Fabrick and TerraPay Join Forces to Revolutionize Cross-Border Payments in Europe</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFabrick, an Italian Open Finance operating company is expanding its geographical footprint by partnering with TerraPay, a company simplifying global money movement.Initially focused on the Italian market, this partnership will enable businesses to access a unified platform that streamlines payment processes, reduce operational costs, and ensure compliance with regulatory requirements.It represents a significant milestone in Fabrick’s international growth and consolidation strategy, building on its strong presence in Italy, Spain, and the United Kingdom.Following the recent acquisition of finAPI, which enabled Fabrick to enter the strategically important DACH region, Fabrick has continued to solidify its position at the forefront of Europe’s digital payments landscape.With TerraPay’s extensive global network spanning 7.5 billion bank accounts, 12 billion cards and 2.4 billion digital wallets across 145 countries and by leveraging Fabrick’s Banking-as-a-Service platform model, the two are creating a unified platform with tailored offerings that streamline payment processes, enhance security, and elevate the customer experience for businesses and financial institutions. Moreover, TerraPay’s global infrastructure aligns with Fabrick’s mission to support Open Finance across different domains, including cross-border payments.TerraPay, regulated by the FCA, the Bank of Italy, and in 30 other jurisdictions globally, excels in international anti-money laundering (AML) and fraud prevention regulations, while Fabrick offers deep knowledge of Italian and EU compliance standards. Hence, both have a shared expertise in navigating the complexities of their respective regulatory environments.Paolo ZaccardiPaolo Zaccardi, CEO and Co-Founder of Fabrick, stated:“We are delighted to announce our partnership with TerraPay, providing us with a gateway to the world’s most extensive cross-border payments network. By integrating TerraPay’s vast global reach with our innovative solutions, we not only enhance our service offerings but also reinforce Fabrick’s broader strategy of global expansion”.“This move therefore signifies an important step forward in consolidating our presence in key international markets, enabling us to deliver a comprehensive suite of payment services tailored to the rapidly evolving needs of the financial services sector worldwide, enabling businesses internationally to navigate the complexities of cross-border payments with greater efficiency and security”.Ani SaneAni Sane, Co-Founder and Chief Business Officer at TerraPay, stated:“Our collaboration with Fabrick marks a significant milestone in our efforts to expand our footprint in Europe. By combining our expertise in payment infrastructure with Fabrick’s innovative approach to banking services, we are poised to deliver our value proposition to help Italian and European enterprises and banks to streamline complexity of cross border payment.”Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/fabrick-and-terrapay-join-forces-to-revolutionize-cross-border-payments-in-europe</link><guid>3779</guid><author>Administrator</author><dc:content /><dc:text>Fabrick and TerraPay Join Forces to Revolutionize Cross-Border Payments in Europe</dc:text></item><item><title>Apple Shifts Payment Strategy to Ecosystem Expansion</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxApple is changing its payments strategy, stepping away from managing balance sheet-based financial products and focusing more on strengthening its iOS ecosystem and proprietary products.These changes will transform the competitive landscape, benefiting third-party wallets, BNPL providers and merchants, a new report by the Boston Consulting Group (BCG) says.The report, released in September, explores Apple’s recent fintech announcements and examines their implications for different markets and players. In particular, it highlights the termination of Apple’s buy now, pay later (BNPL) service, Apple Pay Later, the end of the firm’s partnership with Goldman Sachs, and the opening of its near field communication (NFC) chip and secure element application programming interfaces (APIs) to developers in select regions.These moves are all part of Apple’s strategy to strengthen its ecosystem and avoid direct involvement in financial products that carry significant risk.Apple’s BNPL ChangeApple discontinued in June 2024 Apple Pay Later, a BNPL solution that allowed users to pay off purchases of as much as US$1,000 over four installments. Instead, the firm has introduced installment payment options via Apple Wallet in partnership with financial institutions such as Synchrony, Citi, and Affirm in the US, and banks like ANZ in Australia and HSBC and Monzo in the UK. These moves marked Apple’s retreat from offering financial services in-house, likely due to the challenges of overseeing balance sheet-based products, opting instead to integrate BNPL services via third-party providers.BCG predicts that BNPL players will be the biggest winners of the change since integrating into Apple Wallet means they will gain access to a massive customer base. For example, Affirm’s merchant acceptance is projected to grow from about 290,000 to about 10 million, BCG says.Another major announcement this year was the opening of Apple’s NFC chip in the European Union in compliance with the Digital Markets Act. The firm proactively did so in seven additional countries: the US, Canada, Australia, New Zealand, the UK, Japan and Brazil. The move will allow developers in these markets access to key elements of Apple Wallet’s infrastructure. This will likely foster greater collaboration with third-party financial providers, significantly altering the digital wallet landscape by increasing competition.According to BCG, leading paytech and e-commerce companies like PayPal, Cash App and Shopify are expected to benefit from the newly democratized NFC landscape. PayPal, a longstanding leader in e-commerce digital wallets, and Cash App, a popular digital wallet service by Block, will have the opportunity to expand its reach in offline transactions.BCG also expects many merchants to add NFC payment functionality to their proprietary apps and partner with lenders to offer BNPL options within their wallets, enhancing consumer loyalty through in-app reward and personalized offers.Most large merchants have enabled contactless payments in their stores but have hesitated to integrate payments with their standalone apps, reflecting the need to invest in new acceptance infrastructure such as QR codes at point of sale (POS). However, the ability to drive consumer loyalty through in-app rewards, personalized offers, and seamless checkout experiences will push many retailers to launch digital wallets and integrate NFC payment functionality as these help them drive both increased consumer engagement and operational efficiencies.Besides benefiting third-party wallets, BNPL players, and merchants, BCG expects Apple’s recent moves to benefit payment networks like Visa and Mastercard. This new landscape will entrench their presence in card payments and set them up to dominate POS installment payments over time, the firm says.Featured image credit: edited from Apple]]></description><link>https://fintechnews.eu/apple-shifts-payment-strategy-to-ecosystem-expansion</link><guid>3769</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Apple Shifts Payment Strategy to Ecosystem Expansion</dc:text></item><item><title>The Class of Swiss Fintech Venture Leaders 2024 Going London</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxVenturelab announced the seventh edition of the Venture Leaders Fintech roadshow with a selection of ten ambitious Swiss fintech startups ready to increase their presence and boost their growth on the international stage.From December 2nd to 6th, the 10 startups will represent Swiss innovation at Fintech Connect in London and will pitch to investors.After reviewing 50 applications, a jury of investors and financial experts selected ten fintech startups to join the Venture Leaders Fintech 2024 selection.The roadshow will take the Swiss National Fintech Team to London for investor pitch sessions and customer meetings; the entrepreneurs will also participate in the Fintech Connect conference to meet banking leaders and expand their network. The roadshow is organized by Venturelab in partnership with Swissnex, and supported by EPFL, ETH Zürich, and Walder Wyss.This year’s Venture Leaders Fintech entrepreneurs join an impressive group of Fintech alumni including high-flying startups such as:Crypto Finance (acquired by Deutsche Börse), eCollect (acquired by Intrum), Imburse (acquired by Duck Creek Technologies), Qumram (acquired by Dynatrace), Lend, Sonect, TP24, and many more.Meet the 10 Swiss Fintechs Joining the Swiss National Startup Team in 2024:CrowdTransfer AGEmpower fans to fund and shape their favorite football clubsFumex AGOn-Chain Fund Admin ProtocolhyptBoost your sales with digital word-of-mouthKasparund AGWe democratize saving and investing for everyone!KEMIEX AGOnline B2B marketplace for Active Pharmaceutical IngredientsLayer Finance (Airon 1 AG)We are an AI-enabled Deal Closing Engine for Private MarketsRelai AGRelai is Europe’s leading Bitcoin App – made in Switzerland!Riskwolf AGIf you can measure it. You can insure it.SmartPurse Switzerland GmbHPioneering Financial Education for Alltiun AGChange the way you pay for media online]]></description><link>https://fintechnews.eu/the-class-of-swiss-fintech-venture-leaders-2024-going-london</link><guid>3768</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>The Class of Swiss Fintech Venture Leaders 2024 Going London</dc:text></item><item><title>21Shares and Crypto.com Forge Strategic Partnership</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your Inbox21.co, the parent company of 21Shares – one of the world’s largest issuers of crypto exchange traded products (ETPs), and Crypto.com announced that they have entered into a strategic partnership.Central to the partnership, 21.co Wrapped Bitcoin (21BTC) will source Bitcoin liquidity from Crypto.com, leveraging the exchange’s liquidity. Looking ahead, 21.co and Crypto.com intend to build on the strategic partnership, with future announcements in the pipeline.Eliezer Ndinga“We are thrilled to integrate 21BTC with Crypto.com, enhancing user access to crypto and marking the starting point of a long-term, strategic partnership. As two leaders in digital asset innovation, know-how and operations, the 21.co–Crypto.com partnership creates a powerful combination,”said Eliezer Ndinga, Head of Strategy and Business Development, Digital Assets at 21.co.“Crypto.com is one of the world’s largest digital assets exchanges serving over 100 million users globally. As one of the world’s largest issuers of crypto ETPs, 21.co brings asset management best practices and operational excellence to the world of wrapped assets.”Eric Anziani“This partnership is a strong demonstration of how our exceptional liquidity can support the innovations of companies like 21.co and how Crypto.com is constantly aiming to better serve our existing customers,”said Eric Anziani, President and COO of Crypto.com.“21.co is a proven global crypto company, driving innovation across multiple ETP, ETF and tokenization projects. By coming together, we will offer retail and institutional crypto traders the liquidity solutions they need in the market of today and tomorrow.”Featured image credit: Eliezer Ndinga, Head of Strategy and Business Development, Digital Assets at 21.co and Eric Anziani, President and COO of Crypto.com. Edited from freepik]]></description><link>https://fintechnews.eu/21shares-and-cryptocom-forge-strategic-partnership</link><guid>3767</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>21Shares and Crypto.com Forge Strategic Partnership</dc:text></item><item><title>European Fintech Funding Continues Downtrend; Digital Banks Emerge as Sector’s Bright Spot</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your Inbox2024 continues to be a challenging year for European fintech companies, with funding levels experiencing a significant decline.In H1 2024, European fintech companies raised EUR 2.9 billion (US$3.2 billion), representing a 24% decline from EUR 3.8 billion (US$4.2 billion) in the same period the prior year, according to a new report by Finch Capital, a Dutch growth capital firm. The number of deals also fell, declining by 19% to 443 rounds.Valuations remained under pressure, as flat and down rounds accounted for 25.2% of all deals in H1 2024, up from 19.7% in H1 2023. This trend further reflects the challenging fundraising environment.Regional trendsIn H1 2024, the UK remained the dominant player in the European fintech landscape, accounting for 65% of capital raise, up from 58% in H1 2023. Meanwhile, fintech sectors in the Netherlands and the Nordics showed resilience, with funding levels remaining stable despite broader market difficulties.2024 is also seeing more emphasis on profitability than revenue growth, a trend that’s driving the development of a thriving low- to mid-market mergers and acquisitions (M&amp;A) ecosystem in Europe. Notably, the share of Europe on global M&amp;A deals under EUR 500 million (US$549 million) rivaled the US in size in H1 2024 at 32%. In contrast, the US share of similar exits has shrunk over the past years, declining from 49% in 2021 to 35% in H1 2024.Fintech exits by volume, Source: State of European Fintech 2024, Finch Capital, Oct 2024Digital banks: the bright spot for European fintechDespite the challenging fundraising climate, digital banks are emerging as a standout area in the European fintech sector this year. According to Finch Capital, banking was the favored fintech verticals in H1 2024, attracting the majority of capital despite being ranked fifth in terms of deal count. This indicates that large rounds led much of the sector’s funding activity.Top subsectors in deal count and deal value – H1 2024, Source: State of European Fintech 2024, Finch Capital, Oct 2024According to Finch Capital, large rounds of fundraising in the banking sector over the past year have been driven by record profits by challenger banks. Top challenger banks in the UK generated nearly GBP 800 million (US$1 billion) in profit in 2023 compared to just GBP 28 million (US$37 million) in 2022. These strong financial performances have made the UK a hub for fintech funding, with success stories like Revolut, Monzo and Atom Bank contributing to this trend.Monzo, for example, has raised north of US$610 million in 2024. Monzo claims it is the 7th largest bank in the UK, boasting more than 10 million customers. The digital bank achieved its first full year of profitability in 2024, reporting a pre-tax profit of GBP 15.4 million (US$20.5 million) for the financial year ending March 31, 2024. Monzo is now looking to expand its presence internationally, particularly in the US.Atom Bank also delivered its first year of operating profit in fiscal year 2023, with operating profit rising to GBP 27 million (US$35.4 million), up from GBP 4 million (US$5.2 million) last year. Founded in 2014, Atom Bank was the first online bank to be granted a full UK regulatory license. Between 2018 and 2023, the bank’s customer base increased significantly, reaching 224,000 in March 2023.Revolut, meanwhile, delivered record profits and revenue growth in 2023, with group revenue increasing by 95% from US$1.1 billion in 2022 to US$2.2 billion. Profit before tax was US$545 million, and net profit grew to US$428 million, up from US$7 million in 2022. Revolut operates in more than 40 markets globally and claims more than 45 million customers, making it one of the most prominent digital banks in the world.European neobanking sector, Source: State of European Fintech 2024, Finch Capital, Oct 2024Outlook for 2025: AI drives growth, BNPL reboundsLooking ahead to 2025, Finch Capital anticipates several key trends that will shape the European fintech landscape.In particular, the firm expects continued adoption of artificial intelligence (AI), especially in the insurance sector. According to research, four out of five actuaries are now using AI to improve risk analysis and pricing models and 65% of executives say they will invest more than US$10 million in AI in the next 3 years. This technology is expected to make the industry more efficient.Another emerging trend is the resurgence of buy now, pay later (BNPL). At the beginning, BNPL was largely restricted to e-commerce. However, the payment method is now gaining traction in physical stores such as grocery stores, restaurants as well as gas stations. Furthermore, improvement in risk management, driven by AI, have helped BNPL firms enhance their lending standards, improving profitability among BNPL players, Finch Capital says.Swedish BNPL giant Klarna, for example, said in August that it posted a profit in H1 2024, reporting an adjusted operating profit of SEK 673 million (US$66.1 million) in the six months through June 2024, up from a loss of SEK 456 million (US$44 million) in the same period a year ago. Revenue, meanwhile, grew 27% year-on-year to SEK 13.3 billion (US$1.3 billion). Founded in 2005, Klarna is a leading BNPL player boasting over 31 million monthly active users.Finch Capital also notes that the fintech sector is beginning to see signs of recovery in the job market. Incumbents, in particular, have been hiring en masse, with HSBC, Mastercard and American Express adding more than 700 employees to their engineering teams over the past 12 months. Among digital leaders, Stripe and Revolut were the most active in hiring, expanding their engineering teams by 457 and 320 employees, respectively, during the same period.Fintech hires, Source: State of European Fintech 2024, Finch Capital, Oct 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/european-fintech-funding-continues-downtrend-digital-banks-emerge-as-sectors-bright-spot</link><guid>3766</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>European Fintech Funding Continues Downtrend; Digital Banks Emerge as Sector’s Bright Spot</dc:text></item><item><title>Enterprise Fintech VC Funding Bounces Back, Driven by Larger Deal Sizes</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn Q2 2024, global enterprise fintech secured a total of US$4.6 billion in venture capital (VC) funding across 315 deals, a 27.1% year-on-year increase and 2.2% growth quarter-on-quarter, breaking the downward trend of the previous two quarters, data from PitchBook show.Enterprise fintech VC deal activity by quarter, Source: Q2 2024 Enterprise Fintech Report, PitchBook, Jul 2024This increase was driven by larger deal sizes. In H1 2024, enterprise fintech companies logged a median VC deal size of US$5 million, up 11.3% from 2023’s median of US$4.5 million. Notably, late-stage deals experienced a 20.1% jump in median deal size to US$9.9 million.Other stages, however, decreased from their 2023 median, with pre-seed and seed declining 22.8% to US$2.2 million, early-stage VC falling 6.2% to US$5 million, and venture growth decreasing 31.5% to US$17 million.Median enterprise fintech VC deal value (US$M) by stage, Source: Q2 2024 Enterprise Fintech Report, PitchBook, Jul 2024In Q2 2024, capital markets and CFO stack led VC funding activity. Capital market startups closed 35 transactions, securing a total of US$1.6 billion, or 34.8% of all enterprise fintech deals during the period. The vertical recorded some of the quarter’s largest enterprise fintech rounds including Clear Street’s US$685 million Series B, AlphaSense’s US$650 million acquisition financing to purchase competitor firm Tegus, and Finbourne’s US$70 million Series B.CFO stack followed capital markets, securing the second highest deal value in Q2 2024 at US$1.2 billion (26%) across 76 transactions. Notable deals included Kapital’s US$165 million Series B, Ramp’s US$150 million Series D2, and FloQast’s US$100 million Series E.Q2 2024 enterprise fintech VC deal activity by segment, Source: Q2 2024 Enterprise Fintech Report, PitchBook, Jul 2024Enterprise fintech exits and M&amp;ADespite somewhat of a rebound in VC funding, exits and mergers and acquisitions (M&amp;A) in the enterprise fintech space remained subdue, with only US$1 billion of recorded exit value across 33 deals in Q2 2024.Notable acquisitions during the quarter included AlphaSense’s US$930 million acquisition of Tegus, Aurionpro Solutions’ acquisition of a majority stake in Arya.ai for US$16.5 million, Digits’ acquisition of Basis, Stripe’s acquisition of Sumatra, Paystand’s acquisition of Teampay, and Toggle AI’s acquisition of Atom Finance.Noteworthy deals also took place for public companies, such as Nuvei’s all-cash take-private deal by private equity (PE) firm Advent International, Shift4’s acquisition of a majority stake in point-of-sale (POS) payments company Vectron Systems, and Global Payments’ acquisition of UK-based payment service provider Takepayments.Only one initial public offering (IPO) occurred in Q2 2024. It involved Trust Fintech, a bank technology provider, which listed on the National Stock Exchange of India and recorded an exit value of US$21.3 million.BaaS, AI, crypto payments as top enterprise fintech verticalsThe PitchBook report also highlights some of the key trends driving enterprise fintech in Q2 2024. First, banking-as-a-service (BaaS) continued to dominate headlines during the quarter amid heightened regulatory scrutiny following the collapse of BaaS platform Synapse.Synapse filed for Chapter 11 bankruptcy in April 2024 after a combination of internal mismanagement, failed partnerships, and broader market challenges led to the company’s downfall. The collapse impacted nearly 100 fintech companies and millions of customers, TechCrunch reported, leaving around US$160 million in deposits inaccessible and raising concerns about the stability of the BaaS model and the fintech industry’s heavy reliance on a few service providers.Despite these setbacks, fintech companies continued to explore BaaS in Q2 2024: FIS launched in May its BaaS platform, Atelio; Equals Money, a payment solutions provider, introduced in June a new BaaS product; Atmos Financial expanded its relationship with banking partner Five Star Bank in June to explore BaaS opportunities; and Velmie announced in May a partnership with Unlimit to bring together Velmie’s platform with Unlimit’s cutting-edge BaaS offering.Artificial intelligence (AI) is another top trend outlined by PitchBook, with fintech leaders and banks continuing to explore generative AI (genAI) applications in Q2 2024. In May, Visa introduced its new Visa Account Attack Intelligence (VAAI) tool, which uses genAI to detect and prevent enumeration attacks in card-not-present transactions. That same month, JP Morgan unveiled its IndexGPT tool, which provides an automated approach to curating thematic investment baskets.Finally, crypto payments gained notable traction in Q2 2024 as leading payment players embraced blockchain solutions. In April, Stripe announced it would begin supporting global stablecoin payments using Circle’s USDC. That same month, Block, the company behind Square, Cash App and other services, announced a new program allowing merchants using Square’s solutions to convert a percentage of their daily sales to bitcoin, TechCrunch reported. The firm also unveiled plans to expand its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system.In Q2 2024, enterprise fintech startups continued to capture the majority share of VC deal value in the fintech sector, making up 51.9% of total VC, according to PitchBook.Fintech VC deal activity by quarter, Source: Q2 2024 Enterprise Fintech Report, PitchBook, Jul 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/enterprise-fintech-vc-funding-bounces-back-driven-by-larger-deal-sizes</link><guid>3765</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Enterprise Fintech VC Funding Bounces Back, Driven by Larger Deal Sizes</dc:text></item><item><title>True Wealth Rolls Out ETF Transparency Feature</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxETF investors are familiar with the problem: finding out which individual securities are included in an investment instrument can only be done with great difficulty using factsheets and supplementary data tables.Identifying overlaps in a portfolio used to be extremely time-consuming. True Wealth is now changing that.True Wealth launches the «ETF Lookthrough». This tool allows clients to look through ETFs and index funds: The individual securities held in their portfolio, i.e. stocks and bonds, can be viewed instantly, displayed with just a few mouse clicks and searched.This unique functionality is not only available to invested clients, but also to all other interested visitors to the website who would like to test True Wealth with a free virtual portfolio.Felix NiedererWith the ETF-Lookthrough, True Wealth is once again setting a higher standard in asset management: «Trust and transparency are crucial for our clients. With this new function, we are giving them a tool to better understand the composition of their portfolio,»explains Felix Niederer, CEO of True Wealth.No distinction is made between investments in free (untied) assets and Pillar 3a. In addition to ETFs, index funds are also taken into account. For a more meaningful view of the investment risk, shares and bonds from the same issuer are shown in aggregated form.The aspect of home bias, for example the tendency of some Swiss investors to invest disproportionately in Swiss stocks, is now also apparent to everyone with the tool. For example, the fact that an SMI investment primarily holds three local champions from the food and pharmaceutical sectors (Nestlé, Roche and Novartis).The question of how much of your own assets are at risk in the event of a company insolvency (across the shares and bonds issued by the company) is also revealing. The tool also shows this optionally in a holistic view that combines free assets and Pillar 3a.View through the ETF portfolio: The «Lookthrough» shows transparently which companies you are effectively invested in. Other issuers such as the US Treasury are also shown.A simplified view of the review down to individual issuers can be seen here in the sample portfolio.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/true-wealth-rolls-out-etf-transparency-feature</link><guid>3764</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>True Wealth Rolls Out ETF Transparency Feature</dc:text></item><item><title>M&amp;A Deals Increase in Tech-Enabled Media Signaling Recovery and New Opportunities</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn H1 2024, mergers and acquisitions (M&amp;A) activity in the tech-enabled media and marketing sectors continued to rise, with a 7% year-on-year (YoY) increase in volume, according to data from Ciesco, a London-based M&amp;A advisory firm specializing in the tech, media, healthcare and sustainability sectors.This trend is expected to accelerate in the second half of the year, a sentiment that’s echoed by Collingwood, a consulting and advisory firm specializing in the media sector. Collingwood anticipates a surge in demand for live events and an increasing need for access to trusted information, fueling M&amp;A activity in the sector.In H1 2024, 1,129 transactions were announced in the technology and media sectors, representing a 7% YoY increase in deal activity and a 9% increase compared to H1 2022, Ciesco reports. This growth demonstrates a rebound in M&amp;A deals after years of subdued activity.During the period, traditional media saw the highest YoY increase in buyer interest, followed by agency services, and, events and experiential. Conversely, customer relationship management, digital agency and martech experienced the biggest YoY decline.H1 2024 – Tech and media M&amp;A activity by sub-sector (volume), Source: Ciesco, Jul 2024Key trends and predictionsCiesco outlines several key trends shaping the tech-enabled media and marketing sector this year. In particular, it highlights that AI advancements are transforming areas such as enterprise data management, content production, forecasting and customer experience. These technologies are enhancing efficiency and driving innovation in the sector.Ciesco also highlights the booming influencer marketing industry which has been fostering personalized, authentic engagement between brands and consumers. This sector has proven resilient amid economic uncertainty and an increasingly crowded space, with spending rising roughly 3.5 times faster in 2023 than social ad spending, according to Emarketer’s July 2023 forecast.Finally, spending on events and experiential marketing is experiencing a strong post-COVID-19 resurgence. A recent study by experiential marketing agency Gradient reveals that 80% of the 750+ senior brand marketers polled have increased their experiential marketing budgets so that they now account for 10-30% of their overall marketing spend. This surge underscores the growing emphasis on immersive marketing strategies and creating memorable, engaging experiences for consumers.Echoing Ciesco, Collingwood notes that demand for live events is rebounding as both audiences and sponsors continue to place value on the capacity of live events to help them learn, network, and ultimately forge business partnerships. This has spurred increased M&amp;A activity in the events segment representing over 50% of 2023 transactions.Another trend outlined by Collingwood is the increasing focus on sophisticated marketing services. There is strong interest in businesses that offer advanced client and sponsor propositions, with a shift towards demand generation driven by high-quality content, it says.Finally, Collingwood notes the growing need for access to trusted, high-quality information, especially in the business-to-business market, highlighting opportunities to leverage quality content to engage audiences, and address currently underserved audience needs. Key areas where information gaps exist include regulatory information, information on industry best practices, information and suppliers and information on emerging technologies.Types of information that C-suite and vice presidents think are currently underserved by existing information sources, Source: Plural Strategy B2B audience survey 2023, CollingwoodNotable media deals announced so far this year:In June, Keleops, a leading European online tech media company, announced its acquisition of Gizmodo, a renowned tech media company. This acquisition, previously under the ownership of G/O Media and Boston-based private equity firm Great Hill Partners, aims to bolster Keleops’ position in tech journalism and expand its reach within the industry and internationally.In July, Britain’s Informa announced that it had reached a deal to buy Ascential, a company specializing in events, intelligence and advisory services for the marketing and fintech industries, for GBP 1.2 billion (US$1.6 billion) in cash. This acquisition is significant because, while the media industry struggles to generate revenue from advertising, live events like those hosted by Ascential are a bright spot for growth. Ascential is one of the last large-scale events companies, running prestigious event series such as Lions and Money20/20.In August, Red Ventures, an American digital media and marketing firm, announced that it was selling its tech news and reviews site CNET to Ziff Davis, a publicly-traded digital marketing behemoth, in a deal valued at over US$100 million, sources told Axios. The development marked a surprising twist for CNET, which had previously bought Ziff Davis, then a tech magazine company, in a deal worth US$1.6 billion more than 20 years ago. Founded in 1994, CNET is an American media website that publishes reviews, news, articles, blogs, podcasts and videos on global technology and consumer electronics.American news website Axios signed in August 2022 a deal to sell to its most recent lead investor, Cox Enterprises. The cash deal valued the company at US$525 million and included an additional new investment of US$25 million in Axios’ media arm to help the company expand across its local, national and subscription news products. Axios is a news website founded in 2016 by former Politico journalists Jim VandeHei, Mike Allen, and Roy Schwartz. It’s known for its concise and reader-friendly format, designed to deliver important information quickly and efficiently.In January Thomson Reuters has acquired World Business Media, a London-based provider of subscription-based, cross-platform editorial coverage for the (re)insurance industry.In February, US asset manager Franklin Templeton announced a funding round for Blockhead, a Singapore-based digital asset media firm. Blockhead said it will use the proceeds to support the growth and development of blockchain technology and digital assets, and to evolve its business model to become a leading digital asset research platform in the region. Launched in 2022, Blockhead currently operates a news publication covering global stories from the blockchain and digital assets industry, with an Asian focus.Despite the robust M&amp;A activity, 2024 has also seen notable media closures:In June, Fintech Nexus, a fintech media company previously known as LendIt, said that it was shutting down after 11 years of operation and filing for bankruptcy. The company was launched in 2013 to foster collaboration in the online lending industry and quickly grew to host large fintech events across the US, the UK, Europe, China and Latin America. However, external challenges, including the COVID-19 pandemic and the fintech funding downturn, led to financial difficulties, culminating in the sale of its events business 2023 and now a full closure.London-based fintech news website Altfi announced in January that it was shutting down after ten years of operation, citing “severe headwinds over the last 18 months.” Set up in 2013 by finance journalist David Stevenson, a columnist at the Financial Times (FT), Altfi provided market-leading news, opinion, insights and events for the alternative finance and fintech community. It organized a series of corporate events in the UK, including the AltFi Lending Summit, the AltFi Awards and the Money Talks webinars.In the Philippines, television network CNN Philippines officially ceased operations on January 31, citing “serious financial losses” which was “worsened by the COVID-19 pandemic,” inside sources told Philstar.com.Read also:Fintech, Tech and Crypto Media Sector Shows Resilience with Notable Strategic Acquisitions and Funding Rounds in 2023 – Fintech Schweiz Digital Finance News – FintechNewsCHFintech and Finance Firms Snap Up Media Companies to Gain Audience – Fintech Schweiz Digital Finance News – FintechNewsCHFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/ma-deals-increase-in-tech-enabled-media-signaling-recovery-and-new-opportunities</link><guid>3763</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>M&amp;A Deals Increase in Tech-Enabled Media Signaling Recovery and New Opportunities</dc:text></item><item><title>Private Equity Firm Summa Acquires NetGuardians</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSumma Equity, a Stockholm-based private equity firm, has acquired NetGuardians, a Swiss-based provider in AI-driven fraud prevention and anti-money laundering solutions.This opens an opportunity for a collaboration between NetGuardians and Intix, another Summa portfolio company specializing in Know Your Transaction (KYT) data management.The new group is poised to advance the financial security landscape by driving the development of next generation financial crime solutions.NetGuardians has earned widespread recognition for its pioneering approach, underpinned by its proprietary 3D AI technology.Building on this foundation, the synergy between NetGuardians fraud detection technology and Intix’s financial data management make sense.Gisle Glück EvensenSpeaking on the new group, Gisle Glück Evensen, Partner at Summa commented:“Money laundering and fraud pose significant challenges to the financial system and society through the harmful activities they support. The combination of Intix and NetGuardians represents the next generation of tools in the effort to combat these. We are very enthusiastic about the continuation of this journey.”Joel WintereggSpeaking on the new group, Joël Winteregg, NetGuardians CEO and future group CEO commented:“Today marks a transformative moment for Intix and NetGuardians. This strategic union provides a unique approach to addressing financial crime challenges, tackling issues from data pipeline and traceability to advanced AI analytics. We are not just expanding our reach but also deepening our commitment to secure, sustainable financial practices”.Following the acquisition, Sergi Herrero, former Chair of Intix will assume the role of Chairman of the group. NetGuardians’ initial co-founders will play pivotal roles in this new venture and Raffael Maio will spearhead the group’s strategy. Both will be instrumental in shaping the development and strategic direction of the organization.Featured image credit: Gisle Glück Evensen, Partner at Summa and Joel Winteregg, CEO, Co-Founder and CSO of NetGuardians. Edited from freepik]]></description><link>https://fintechnews.eu/private-equity-firm-summa-acquires-netguardians</link><guid>3762</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Private Equity Firm Summa Acquires NetGuardians</dc:text></item><item><title>European Digital Banks Focus on Innovation Amid Lower Interest Rates Challenge</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFalling interest rates are posing challenges for digital banks, particularly in regions like Europe, the US, and Latin America.These digital banks, which previously thrived on high margins from savings and loans, now face pressure on their profitability models as central banks worldwide begin lowering rates. In Europe, digital banks are responding to this shift by prioritizing product diversification and innovation to sustain growth, according to a new analysis by C-Innovation, a French fintech-focused research firm.The report, released on September 23, explores how digital banks around the world have benefited from high interest rates and what the future holds as rates begin to fall. In Europe, it highlights that leading digital banks are implementing different strategies to adapt to this new environment, with some leveraging advanced technology to improve operational efficiency, while others opt instead to expand their product offerings to diversify revenue streams.Following the global inflation surge that started in 2021, central banks around the world raised interest rates, often at unprecedented speed to bring inflation rates back to target. During this period of elevated interest rates, digital banks capitalized on the widening gap between the interest rates they offered on savings accounts and the higher rates they charged on loans, allowing them to generate considerably more revenues, significantly boosting profitability. They also took advantage of higher savings rates to offer more attractive returns than traditional banks, which drew in new customers, strengthened their customer base and increased their liquidity.But in 2024, central bankers began the process of easing up on the aggressive stances they took to quell high inflation, lowering interest rates as inflation slows and falls within sight of their targets.In Europe, the European Central Bank cut its main interest rate to 3.5% in September 2024, marking the second reduction this year following a move in June. Though economists believe rates may not return to their ultra-low levels of 0.25% seen before, C-Innovation argues that this new baseline of around 3% could still offer digital banks opportunities to capture decent margins.Reuters ECB interest rates chart, Source: Reuters, Sep 2024EU digital banks introduce innovation offeringsAcross the European Union (EU), digital banks are already adapting to this evolving landscape. Bunq, a Dutch neobank, is leading the way with innovative offerings such as Freedom of Choice, which allows users to control deposit investments, and MassInterest, which offers a 3.36% bonus rate to reward savers. Additionally, Bunq’s entry into the insurance market in May will allow it to diversifying its income streams and reduce reliance on interest margins.Bunq boasts over 12.5 million customer, and total deposits of over EUR 8 billion. This year, it plans to increase its global headcount by over 70% to expand into new regions including the UK and the US, Bunq CEO and co-founder Ali Niknam told CNBC last month.In Germany, N26 has expanded into investment products, offering services such as stock and exchange-traded fund trading, as well as portfolio management. This strategic move not only diversifies its revenue streams but also attracts a broader customer base, particularly those looking for easy access to financial markets, C-Innovation says. It also positions N26 as a more comprehensive financial platform that meets both banking and investment needs.N26 has introduced several new products this year, including Joint Accounts, which allow N26 customers to manage both their personal finances and finances shared with a partner, as well as Instant Savings accounts, which offer customers in 13 European markets up to 4% interest on deposits.N26 serves eight million customers across 24 European markets. The digital bank reported a 27% increase in revenues to more than EUR 300 million in 2023, and says it is on track to become profitable in the second half of 2024.Klarna, the Swedish buy now, pay later (BNPL) giant, is a standout example of how digital banks are using advanced technology to stay ahead. The company has implemented solutions that leverage artificial intelligence (AI) to not only reduce operational costs and remain competitive as margins tighten, but also enhance customer experience in the increasingly competitive BNPL space.These solutions include Kiki, Klarna’s bespoke internal AI assistant. In its first month, Kiki handled 2.3 million conversations, managing two-thirds of Klarna’s customer service interactions. It effectively performs the work of 700 full-time agents, matching human staff in customer satisfaction scores. Used by 87% of Klarna’s employees, Kiki responds to approximately 2,000 inquiries daily, significantly streamlining operations.Klarna has also introduced an AI assistant for its 150 million customers via its app. This assistant is designed to enhance the shopping and payments experience and is capable of managing a range of tasks, including multilingual customer service, managing refunds and returns, and fostering healthy financial habits.Digital banks in the UK put a focus on product diversificationIn the UK, banks like Starling Bank, Revolut and Monzo are putting a strong focus on product diversification and innovation, allowing them to remain profitable in a lower-rate environment.Revolut continues to offer a broad suite of services, including travel insurance, stock trading, and budgeting tools, which help diversify its revenue streams and reduce reliance on traditional banking margins. The digital bank has launched a number of new products this year, including Mobile Wallets, a remittance service; Revolut X, a stand-alone crypto trading platform; and Revolut BillPay, a new feature designed to help businesses manage and pay bills to suppliers in over 150 destinations with just a few clicks. It’s now working on a new stablecoin initiative as it seeks to expand its crypto offering.Additionally, Revolut is pursuing cross-border expansion with plans to enter the Middle East by seeking licenses to operate in the United Arab Emirates (UAE) and Dubai. This expansion will enable Revolut to offer remittance services, tapping into a region with significant growth potential. By providing such diverse financial products and expanding globally, Revolut can better withstand interest rate fluctuations, offering value-added services that go beyond core banking.Revolut, which operates in more than 40 markets globally, claims more than 45 million customers, making it one of the most prominent digital banks in the world.Revenue change by banking player, Source: Monzo Snapshot Report 2024, C-Innovation, 2024Similarly, Monzo is positioning itself through product diversification. Recent moves include the launch of a pension consolidation product with BlackRock, which allows customers to combine pots, a free account for 6 to 15 year olds, an “industry-first” Call Status fraud prevention tool that prevents customers falling victim to impersonation scams, the Monzo Investments offering, and an instant-access savings account.Like Revolut, this broad product range enables Monzo to reduce reliance on interest-based income by generating fee-based revenue from various financial services. Moreover, its Monzo for Under 16s offering allows it to cultivate future loyalty, which will be crucial in maintaining a solid customer base as interest margins shrink, C-Innovation says.Monzo claims it is the 7th largest bank in the UK, boasting more than 10 million customers. The digital bank achieved its first full year of profitability in 2024, reporting a pre-tax profit of GBP 15.4 million (US$20.5 million) for the financial year ending March 31, 2024.Monzo’s product offerings, Source: Monzo Bank Profile 2024, C-Innovation, 2024Starling Bank as well is diversifying its revenue streams, focusing heavily on its expansion into business banking and the provision of tailored services for small and medium-sized enterprises (SMEs). This helps cushion the effects of reduced lending margins.The digital bank has also been franchising its software to other banks through a service called Engine, with recent partnerships in Australia with AMP and Romania with Salt Bank highlighting the bank’s commitment to scaling this technology​.Starling Bank, which offers personal, business, and joint accounts through a mobile app, has 4.2 million customers and serves about 9% of the UK’s SME banking market. The digital bank has been profitable for three years now.Major SME digital banks in the UK, Source: Monzo Bank Profile 2024, C-Innovation, 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/european-digital-banks-focus-on-innovation-amid-lower-interest-rates-challenge</link><guid>3761</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>European Digital Banks Focus on Innovation Amid Lower Interest Rates Challenge</dc:text></item><item><title>Selma Finance sammelt 1.2 Millionen via Crowdinvesting-Kampagne in 24 Stunden</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSelma Finance hat eine Crowdinvesting-Kampagne gestarted, mit der Möglichkeit Teil vom Schweizer Fintech-Unternehmen zu werden.Seit letzter Woche Mittwoch läuft Selmas Crowdinvesting-Kampagne. Schon nach 25 Minuten war bereits die 500 000 Euro Marke erreicht.Nach nur einer Stunde hatte die Kampagne 608’810 Euro eingesammelt. Über Nacht hat sich diese Summe dann nochmals verdoppelt, teilt das Unternehmen mit.Knapp 24h nach Start der Kampagne waren 1.2 Millionen Euro zusammengekommen. Stand 14:30 Uhr am 30.09.2024 hat die Kampagne über 1.42 Millionen Euro eingesammelt. Aufgrund der weiterhin hohen Nachfrage hat Selma sich dazu entschlossen, nun das ursprüngliche Kampagnenziel anzupassen und die 1.5 Millionen Euro anzupeilen.Mit den Mitteln wird die digitale Vermögensverwalterin Selma AI weiterentwickeln, das Angebot erweitern und die Position von Selma Finance als führende Finanzberaterin der Schweiz stärken.Patrik Schär“Unser Vorteil gegenüber anderen Schweizer Fintech-Unternehmen ist, dass unser Kerngeschäft bereits profitabel betrieben werden könnte. Mit unserer Crowdinvesting-Kampagne wollen wir nun Menschen einbinden, die an unsere Vision einer demokratisierten und technologiegestützten Finanzberatung glauben und in unsere Weiterentwicklung investieren wollen“,erklärt Patrik Schär, CEO von Selma.so Patrik Schär.]]></description><link>https://fintechnews.eu/selma-finance-sammelt-12-millionen-via-crowdinvesting-kampagne-in-24-stunden</link><guid>3760</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Selma Finance sammelt 1.2 Millionen via Crowdinvesting-Kampagne in 24 Stunden</dc:text></item><item><title>6 Swiss Banks and SIX Join BIS Tokenisation Project Agorá</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxMore than 40 private sector financial firms, convened by the Institute of International Finance, will join the Bank for International Settlements and a group of leading central banks in Project Agorá to explore how tokenisation can enhance wholesale cross-border payments.The BIS and the IIF selected a diverse set of firms from applicants that met the eligibility requirements and other criteria laid out in the public call for participation.Participating firms must be regulated in a participating jurisdiction as a commercial bank, payment services provider, or financial market infrastructure company; be significantly involved in cross-border payments; and have innovation expertise. These firms represent a diversity of private sector partners in terms of business models, institution size, expertise and geography.Participating private sector institutions are: (in bolt the Swiss one’s)Amina BankBanco SantanderBanorteBanque Cantonale VaudoiseBasler KantonalbankBBVABNP ParibasBNYCaixaBankCitiCrédit Agricole CIBDeutsche Bank AGEurex Clearing AGEuroclear S.A./N.V.FNBOGroupe BPCEHana BankHSBCIBKIntercam BancoJPMorgan Chase Bank N.A.KB Kookmin BankLloyds Banking GroupMastercardMizuho BankMonexMUFG Bank Ltd.NatWest GroupNongHyup BankPostFinance Ltd.SBI Shinsei Bank Ltd.Shinhan BankSIX Digital Exchange (SDX)Standard CharteredSumitomo Mitsui Banking CorporationSwiftSygnum BankTD Bank N.A.UBSVisaWoori BankProject Agorá will now begin the design phase of the project.Project Agorá (Greek for “marketplace”) is structured as a public-private collaboration. It brings together seven central banks: Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York. They will work in partnership with the selected financial firms, and the IIF will act as the private sector convener.]]></description><link>https://fintechnews.eu/6-swiss-banks-and-six-join-bis-tokenisation-project-agora</link><guid>3759</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>6 Swiss Banks and SIX Join BIS Tokenisation Project Agorá</dc:text></item><item><title>Real-Time Payment Infrastructure, Open Banking Initiatives Drive Growth in A2A Transactions</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxBy 2029, account-to-account (A2A) payments are projected to reach 186 billion transactions, marking a staggering 209% from 60 billion in 2024, new estimates by Juniper Research show. This growth is expected to be driven by advances in instant payment rails and open banking technologies, which are reshaping the payment landscape.A2A payments refer to the direct transfer of funds from one bank account to another, without the need for intermediaries such as card networks or third-party payment processors. These transactions typically rely on traditional bank payment systems such as ACH (Automated Clearing House) in the US or SEPA (Single Euro Payments Area) in Europe, bypassing credit card and third-party payment platforms.A2A payments have increased in popularity in recent years due to their cost-effectiveness, security, and speed. In 2023, they accounted for 7% of global e-commerce payments last year, according to the Global Payments Report 2024 by Worldpay. Countries including Finland, Malaysia, the Netherlands, and Nigeria led the way in adoption, with A2A payments standing as the leading payment method for e-commerce transactions.Juniper Research predicts that A2A payments will continue to grow through 2028, fueled by the widespread adoption of open banking initiatives across governing bodies worldwide. Asia-Pacific (APAC) is projected to make up for the bunch of these transactions, accounting for more than half of all A2A consumer transactions by then, outpacing both the Americas and Europe.Real-time payments and open banking fuel the growth of A2A transactionsThe rise of A2A payments has been largely propelled by the development of instant payment rails, Juniper Research says. Historically, traditional A2A payments faced delays in fund transfers, often taking several business days through systems like SEPA. However, real-time payment systems such as the UK’s Faster Payments and the US’s RTP (Real-Time Payments) allow for instantaneous or near-instantaneous transfers between bank accounts. This speed has made A2A payments highly appealing for situations where speed is crucial, such as paying bills, transferring money between individuals, or settling business invoices, leading to increased adoption.While instant payment rails are crucial to the rise of A2A payments, the report notes that open banking is also playing a significant role by providing the secure infrastructure that allows banks and financial institutions to share data with third-party providers.Open banking enables third-party providers to initiate payments directly from consumers’ bank accounts, allowing for the development of innovative solutions, including payment initiation services (PIS). These third-party services facilitate the initiation of payments directly from a customer’s bank account, offering more seamless payment experiences, particularly in e-commerce.The adoption of open banking has seen steady growth in recent years, especially in Europe. In the UK, open banking penetration reached 13% of digitally active consumers by January 2024, with small businesses reporting an even higher rate of 18%, according to the UK’s Open Banking Limited (OBL). The agency estimates that there are now 10 million active users of open banking-powered financial tools and payment apps in the UK.In Europe, about 5% of digital consumers in France, Spain, Italy, and Germany had used open banking in 2022, according to Rolands Mesters, CEO of open banking provider Nordigen.Globally, Juniper Research estimates that there were a little less than 100 million open banking payments users in 2023. By 2027, that number is projected to reach 400 million, and by 2028, it could approach 600 million.Number of open banking payment users globally (million), 2023-2028, Source: How open banking is driving A2A payments, Juniper Research, Sep 2024Europe: A leader in open bankingEurope is recognized as a pioneer and leader in open banking due to proactive regulation, technological innovation and the collaborative financial ecosystem that has emerged in the region.The bloc introduced in 2015 the Revised Payment Services Directive (PSD2), a regulatory framework designed to foster competition and innovation in the financial services industry. It mandated that banks open their customers’ financial data to authorized third-party providers with the customer’s consent, effectively kickstarting the open banking movement.The European Union (EU) is now working on an open finance framework, expanding the access and reuse of customer data across a broader range of financial services, including loans, investments, savings, pension schemes, real-estate and even crypto-assets. The European Commission (EC) put forward the legislative proposal in June 2023. The proposal is now going through the legislative process, including discussions and approvals by the European Parliament and the Council of the EU.These initiatives are part of the EU’s Digital Finance Strategy, a development plan adopted in September 2020 aimed at modernizing the European financial sector by embracing digital transformation. Other key initiatives under the plan include the Regulation on Markets in Crypto-assets (MiCA), the Digital Identity Framework, and the Instant Payments Regulation.The Instant Payments Regulation, which entered into force in April 2024, requires banks and payment service providers to offer instant payment services in euros, ensuring that transactions are processed within seconds, 24 hours a day, all year round. It also mandates that instant payments must be offered to customers at the same cost as standard transfers.Though instant payments bring about a number of benefits for both consumers and businesses, the EC estimates that only 11 % of all money transfers in euro are instant. One in three EU payment service providers does not offer them, and some 70 million payment accounts in the euro area do not allow their holders to use instant transfers.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/real-time-payment-infrastructure-open-banking-initiatives-drive-growth-in-a2a-transactions</link><guid>3758</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Real-Time Payment Infrastructure, Open Banking Initiatives Drive Growth in A2A Transactions</dc:text></item><item><title>EBP Acquired Minority Stake in Pelt8</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxPelt8, a Switzerland based sustainability reporting solution provider, has entered into a strategic partnership with the consulting firm EBP.Additionally, Tenity and SICTIC investors have joined the round as follow-on investors.This collaboration aims to significantly strengthen the reporting and sustainability efforts of medium and large companies in Switzerland and internationally. To reinforce this commitment, EBP has acquired a minority stake in Pelt8.The partnership comes at a critical time, with increasing market-driven and regulatory pressure on corporate sustainability. Pelt8’s comprehensive solution supports all sustainability reporting standards. Currently, the Swiss Federal Council is consulting on extending reporting requirements that are in line with new EU CSRD requirements. If passed, it is estimated that an additional 3,000 Swiss companies will need to report on their sustainability by 2027.Julian OsborneJulian Osborne, CEO of Pelt8, expressed his enthusiasm:“We are thrilled about our partnership with EBP. With a very similar impact-driven culture, their extensive experience and expertise in sustainability consulting significantly enhance our ability to reach our clients’ sustainability goals.”Christoph ZulaufChristoph Zulauf, CEO of EBP Switzerland, emphasizes:“Pelt8’s solution and team perfectly complement our Corporate Sustainability Consulting offering. The partnership with a young SustainabilityTech company marks the beginning of a new chapter for EBP.”]]></description><link>https://fintechnews.eu/ebp-acquired-minority-stake-in-pelt8</link><guid>3757</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>EBP Acquired Minority Stake in Pelt8</dc:text></item><item><title>Taurus Partners with Aktionariat to Launch Token Secondary Market for SMEs</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwiss equity token specialist Aktionariat AG and securities firm Taurus SA announced a new partnership.Aktionariat’s tokenization tools and Taurus Digital Exchange (TDX) organized trading facility are natural complements. Under the newly announced partnership, Taurus will support selected shares tokenized with Aktionariat on the Ethereum blockchain and Aktionariat will offer client companies a smooth path towards being admitted to trading on TDX as they grow in market capitalization and match admission criteria.This collaboration brings together Aktionariat’s expertise in tokenizing Swiss companies’ equity with Taurus’ institutional-grade trading technology. It aims to increase liquidity and unlock value for tokenized SMEs and their shareholders by providing access to TDX’s network of banks, professional investors, and retail clients.Murat ÖgatMurat Ögat, CEO of Aktionariat, said:“Our mission is to enable companies to leverage the power of blockchain-based financing. While we already offer tools to enable the sale and limited informal trading of security tokens, there is a lack of licensed marketplaces for security tokens. Taurus fills this gap with its digital marketplace. Having a smooth path to access this market will provide value to our clients and also strengthen the usefulness of our offering for their investors.”Victor BussonVictor Busson, CMO at Taurus, commented:“By combining Aktionariat’s expertise with our TDX marketplace, we’re helping to create a robust ecosystem for issuers and investors alike. This collaboration demonstrates how tokenization can increase liquidity and accessibility for the private capital market. We’re particularly excited about the potential for companies like RealUnit to leverage our platform, showcasing the tangible benefits of tokenization for both issuers and investors.”Among the first tokenized SMEs expected to be admitted for trading on TDX following this partnership is RealUnit Schweiz AG, an investment company focused on real assets, with several additional companies expected to follow in 2025 as the ecosystem of tokenized SMEs expands. RealUnit tokenized its shares with Aktionariat in April 2022 and used its tools to allow investors to hold them using any Ethereum-based crypto wallet. Investors could choose between classic bearer shares and registered shares as tokens – a first in the Swiss capital market.Dani StüssiDani Stüssi, CEO of RealUnit Schweiz AG, said:“As one of the first Swiss companies to offer tokenized instruments, we’re excited to be at the forefront of this partnership between Aktionariat and Taurus. Being admitted to trade on TDX is a natural next step in our journey to increase accessibility and liquidity for our investors. This move aligns perfectly with our mission of opening up access to actively managed real asset investments.”The collaboration is expected to go live in November, enabling the first Aktionariat-tokenized SMEs to begin trading on TDX.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/taurus-partners-with-aktionariat-to-launch-token-secondary-market-for-smes</link><guid>3756</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Taurus Partners with Aktionariat to Launch Token Secondary Market for SMEs</dc:text></item><item><title>EIB Provides €220 Million Financing to Italian Paytech Company Nexi</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe European Investment Bank (EIB) is providing €220 million in financing to Nexi Group, an Italy based PayTech company, to support innovation in the digital payments sector.The agreement was announced in Milano by EIB Vice-President Gelsomina Vigliotti and Nexi Group CFO Bernardo Mingrone.Nexi will use the EIB funds to develop and manage projects aimed at modernising digital payments in Europe, and to finance specific initiatives that leverage the expertise of Nexi Digital, a European technological innovation hub created in collaboration with Reply, an Italian company and European leader in digital transformation.The identified projects are fully aligned with Nexi Group’s environmental, social, and governance (ESG) objectives, which have already been communicated to the market. These include promoting digital payment innovation across Europe, creating jobs for young people and in disadvantaged areas, and enhancing environmental sustainability by optimizing data centres and developing cloud-based activities.This is the first EIB loan granted to a publicly listed company in the digital payments sector, underscoring Nexi’s commitment to advancing the digital and technological transition.Gelsomina VigliottiEIB Vice-President Gelsomina Vigliotti commented:“This operation represents a major step forward in the development of Europe-wide digital payment solutions, helping to reduce the use of cash and prevent fraud and tax evasion. This operation highlights the EIB’s commitment to promoting digitalisation and innovation in businesses and public sector organisations, which are key elements of the National Recovery and Resilience Plan.”Bernardo MingroneNexi Group CFO Bernardo Mingrone added:“We are proud that the European Investment Bank has recognised our ongoing commitment to the development of innovative products and services promoting digital payment reliability and security, two key requirements for rolling out these services in the European countries where we operate. This agreement is further confirmation that even major players like the EIB recognise Nexi’s vital role in developing and supporting digitalisation in Europe.”Featured image credit: EIB Vice-President Gelsomina Vigliotti]]></description><link>https://fintechnews.eu/eib-provides-220-million-financing-to-italian-paytech-company-nexi</link><guid>3755</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>EIB Provides €220 Million Financing to Italian Paytech Company Nexi</dc:text></item><item><title>1 Billion USD Takeover: Visa to Acquire Payment Fraud Protection Provider Featurespace</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxVisa announced it has signed a definitive agreement to acquire Featurespace, a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payments fraud and financial crime risks.The acquisition of London based Featurespace will complement and strengthen Visa’s portfolio of fraud detection and risk-scoring solutions used by clients around the world to grow and protect their businesses.Although Visa did not disclose the acquisition’s value, a recent report from SkyNews, citing sources, estimated it to be around $935 million.Since its inception out of Cambridge University’s engineering department, Featurespace has developed innovative algorithmic-based solutions to analyze transaction data and detect even the most elusive fraud cases.Antony CahillAntony Cahill, Global Head of Value-added Services at Visa, said:“Providing our clients with solutions that can adapt to and anticipate the changing threat landscape is of the utmost importance. Featurespace’s strong foundation in AI will enhance our existing product portfolio and enable us to address our clients’ most complex and pressing challenges. We look forward to welcoming the Featurespace team to Visa.”The combined expertise of Visa and Featurespace will enable clients to manage fraud in real-time and further protect the payments ecosystem using AI-fueled solutions. This investment builds on Visa’s commitment to ecosystem security. In the last five years alone, Visa has invested billions of dollars in technology, including to reduce fraud and enhance network security.Dave ExcellDave Excell, Founder of Featurespace, added:“Over the past 12 years we have served the financial services industry, building a company that has gone from strength to strength, and we are thrilled to become a part of Visa. With Visa, we can bring the innovation, integrity and purpose of our platform and our team to more payment service providers and ultimately, stop more people from becoming victims of financial crime.”The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals. The transaction is expected to close in fiscal year 2025 and will provide significant benefits to financial institutions, consumers, and the wider payments industry.Featured image credit: Antony Cahill, Global Head of Value-added Services at Visa and Dave Excell, Founder of Featurespace]]></description><link>https://fintechnews.eu/1-billion-usd-takeover-visa-to-acquire-payment-fraud-protection-provider-featurespace</link><guid>3753</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>1 Billion USD Takeover: Visa to Acquire Payment Fraud Protection Provider Featurespace</dc:text></item><item><title>Innosuisse is Looking for Innovation Startup Mentors</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxInnovation mentors support SMEs by conducting an initial analysis of their innovative idea as well as helping them understand their potential and find research partners.They are very familiar with innovation support offers in Switzerland and can help their customers apply and develop their idea.The mentors also facilitate access for Swiss SMEs to the skills and technologies available at Swiss universities and colleges. Thanks to their extensive network, they enable SMEs to find partners to carry out innovation projects.To work as a mentor, the following qualities are essential:Be able to provide sound advice to innovative companies;Benefit from extensive experience in defining and implementing product, service and process development strategies;Be able to recognise the critical success factors of an innovation project and support partners in defining the project;Benefit from a strong network at national, cantonal and regional level, in particular with Swiss universities and colleges, as well as with innovation support and economic promotion organisations.You can find more details on the Innosuisse’ profiles in their legal basis.When it comes to selections, a diverse and inclusive balance is essential to the mentor pool, especially with regard to gender parity, diversity of ages and languages. This is why female applicants are particularly encouraged to apply if interested.This call for applications is an opportunity:To support Swiss SMEs on their innovation path;Make valuable contacts and expand your network by supporting exciting projects;Actively contribute to shaping the future of business and research.Apply by 30 November 2024 here Only complete applications, submitted will be considered. The required documents are as follows:CV;Cover letter;Declaration of possible conflicts of interest, including:professional activities;activities in management and supervisory bodies, as well as advisory boards and similar bodies of Swissand foreign corporations, institutions and foundations under private and public law;advisory or expert activities;permanent consulting or advisory activities for Swiss or foreign interest groups.Accreditation ProcessFollowing an oral interview in December 2024, the Innovation Council will select the successful candidates and announce its decision in February 2025. The chosen mentors will begin their work in June 2025.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/innosuisse-is-looking-for-innovation-startup-mentors</link><guid>3754</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Innosuisse is Looking for Innovation Startup Mentors</dc:text></item><item><title>Despite Promising Fintech Growth, MENA and LatAm Remain Underfunded Regions</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxBetween 2015 and 2023, more than US$350 billion of venture capital (VC) funding was invested in the fintech sector globally, with the US and Canada alone accounting for 39% of total fintech funding.North America also has much higher funding per capita than other regions, highlighting the concentration of fintech funding activity.But in recent years, fintech funding in the Middle East and North Africa (MENA) and Latin America and the Caribbean (LAC) has experienced significant growth on the back of booming fintech innovation and soaring adoption of digital financial services.Despite this growth, there is still a mismatch between fintech funding and future growth potential in these regions, representing a significant opportunity for investors worldwide, a new paper by the World Economic Forum (WEF) says.The whitepaper, released on September 04 and produced in collaboration with McKinsey and Company, examines global fintech funding trends and delves into where fintech funding gaps exist.It highlights the surge in fintech funding that regions including MENA and LAC have recorded over the past few years. Between 2015 and 2023, LAC saw the highest funding compound annual growth rate (CAGR) across all major regions, reaching 37%. MENA, meanwhile, recorded the second highest CAGR with 33%, while the volume of fintech VC funding in the region more than tripled from US$600 million to US$1.9 billion between 2020 and 2023.Fintech VC funding, and funding-to-GDP ratio by region (2015 to 2023), Source: Fuelling Innovation: Closing Fintech Funding Gaps, World Economic Forum, Sep 2024According to the paper, rising fintech funding activity in MENA and LAC has been driven by booming adoption of digital financial services. In LAC, there were more than 300 million users of digital payments and more than 30 million users of digital banks in 2021, mostly concentrated in Brazil and Mexico.In MENA, this growth was driven by a series of successful fundraisings by regional fintech leaders, including the birth of three unicorns in 2023: buy now, pay later (BNPL) companies Tabby and Tamara, both from Saudi Arabia, and microfinance and payment startup MNT-Halan from Egypt.These companies have managed to garner significant customer bases of 14 million users for Tabby, 10 million for Tamara, and seven million for MNT-Halan. The MENA region has a young, educated and growing population and some of the world’s highest mobile, internet and smartphone penetration rates, making the region for a fertile ground for financial innovation.An untapped opportunityWhen looking at fintech funding between 2020 and 2023 and comparing it to estimated future revenue by region, the WEF paper notes that fintech funding was not distributed according to future growth potential in different region.Between 2020 and 2023, Europe and North America received more fintech funding than their projected 2028 revenue, with Europe getting 109% and North America 180% of expected future earnings. In contrast, regions like Asia-Pacific (APAC), LAC and MENA received much less, only 67%, 70%, and 63% of their anticipated future fintech revenue, respectively.These findings suggest that global VC funding does not align with the emerging growth opportunities. This is despite forecasts that emerging regions such as APAC, LAC and MENA are projected to account for a significant share of the global fintech revenue by 2028 at 30%, 9% and 6%, respectively.Fintech funding to future revenue (indexed worldwide to 100), Source: Fuelling Innovation: Closing Fintech Funding Gaps, World Economic Forum, Sep 2024This mismatch between fintech funding and future growth potential means that regions like LAC and MENA are currently underfunded, even though they are expected to see substantial growth in the coming years. This presents a significant opportunity for for investors.Closing the funding gapsFinally, the WEF paper formulates a series of recommendations to close these funding gaps, outlining five pathways. The first pathway involves investing in digital public infrastructure by developing core building blocks centered on digital identity, payments, data sharing and emerging technologies.The second pathway involves enhancing regulatory clarity and encouraging regional collaboration. This includes improving certainty and clarity in banking regulation, launching initiatives such as regulatory sandboxes, and encouraging interoperability and regulatory standardization.The third pathway involves nurturing talent by establishing local hubs for global talent, and strengthening support networks including incubation and acceleration programs, and innovation hubs.The fourth pathway involves developing local financing capabilities by broadening the investor base beyond traditional VC funds to include corporate venture capital (CVC), minority equity investment from incumbent banks, sovereign wealth funds with growth equity expertise, and family offices. Governments can also play an important role in fostering innovation by deploying policy instruments to boost effective investment returns and attract more capital from investors to fund various industries.Finally, the fifth pathway involves encouraging sustainable fintech growth strategies by leveraging emerging technologies such as artificial intelligence (AI) and demonstrating a clear path to profitability.This article first appeared on fintechnews.aeFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/despite-promising-fintech-growth-mena-and-latam-remain-underfunded-regions</link><guid>3752</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Despite Promising Fintech Growth, MENA and LatAm Remain Underfunded Regions</dc:text></item><item><title>LUKB bietet neu sichere Ein- und Auslieferung von Kryptowährungen an</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie Luzerner Kantonalbank (LUKB) bietet ab dem 1. Oktober 2024 ihren Kunden die Ein- und Auslieferung für die Kryptowährungen Bitcoin und Ethereum an.Bereits im Juni 2024 hat die LUKB einen Kryptoanlageplan auf den Markt gebracht und ergänzend zu Bitcoin, Ethereum und USD Coin neu auch Investitionen in die Kryptowährungen Chainlink und Polygon ermöglicht.Ab dem 1. Oktober 2024 können Kunden der LUKB ihre Kryptowährungen Bitcoin und Ethereum aus anderen Wallets in ihr Wertschriftendepot bei der LUKB übertragen. Die LUKB wird diese Dienstleistung schrittweise einführen. Sie ergänzt damit das bestehende Angebot im Bereich des Handels und der Verwahrung von Kryptowährungen.Kryptoanlageplan seit Juni 2024Der bereits im Juni 2024 lancierte Kryptoanlageplan ermöglicht ein regelmässiges und automatisiertes Investieren in Kryptowährungen bereits ab einem Betrag von 10 Franken. Der Kauf von Kryptowährungen erfolgt automatisiert und auf Wunsch der Kundschaft per Dauerauftrag. Der Kryptoanlageplan ist nahtlos in das Kernbankensystem und das E-Banking der LUKB integriert.Ausbau der KryptowährungenErgänzend zu den bisher verfügbaren Kryptowährungen Bitcoin, Ethereum und USD Coin hat die LUKB ebenfalls im Juni 2024 ihr Angebot um Chainlink und Polygon erweitert.ISAE zertifizierte VerwahrungDie LUKB setzt bei der Verwahrung von Kryptowährungen auf anerkannte Sicherheitsstandards. Die Verwahrung der eingelieferten Kryptowährungen erfolgt in einer ISAE 3000 zertifizierten Infrastruktur. Für die Kunden besteht somit Gewähr, dass ihre Kryptowährungen bei der LUKB sicher verwahrt sind.]]></description><link>https://fintechnews.eu/lukb-bietet-neu-sichere-ein-und-auslieferung-von-kryptowahrungen-an</link><guid>3749</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>LUKB bietet neu sichere Ein- und Auslieferung von Kryptowährungen an</dc:text></item><item><title>FBI Crypto Report: Fraud Surges Driven by Investment Scams</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn 2023, cryptocurrency fraud continued to surge globally as rising adoption of digital currencies attracted scammers seeking to exploit the hype and target credulous users.Last year, the Federal Bureau of Investigation’s (FBI) Internet Crime Complaint Center (IC3) received a record of 69,468 crypto-related complaints, a 33.6% increase from 2022’s ~52,000, new data released by the division show. Losses soared by a whopping 45% year-over-year (YoY) to an all-time high of US$5.6 billion.Though crypto fraud represented only 10% of total financial fraud complains in 2023, it accounted for nearly 50% of total fraud losses, highlighting the disproportionately severe financial impact of these schemes compared to traditional fraud.IC3 complaints with reference to cryptocurrency, Source: 2023 Cryptocurrency Fraud Report, US Federal Bureau of Investigation (FBI), Sep 2024Investment fraud emerges as top crypto fraud typeInvestment fraud fueled much of the rise in crypto-related scams, emerging as the most reported crypto scheme in 2023. Last year, it accounted for nearly half of all complaints received and a staggering 71% of the losses associated with these complaints.The increasing popularity of cryptocurrencies, driven by the potential for high returns and belief in blockchain’s future, is attracting fraudsters. As cryptocurrencies are increasingly perceived as viable alternatives to traditional investments, and with major companies enhancing the market’s legitimacy, scammers are exploiting this trend, taking advantage of the hype, investors’ lack of experience, and the anonymity of blockchain transactions to deceive unsuspecting individuals with promises of high returns and minimal risks.In 2023, losses from crypto-related investment fraud schemes reported to the IC3 skyrocketed from US$2.57 billion in 2022 to US$3.96 billion, a 53% increase, with many victims accumulating massive debt to cover losses from these fraudulent investments.2023 crime types with cryptocurrency nexus – Losses, Source: 2023 Cryptocurrency Fraud Report, US Federal Bureau of Investigation (FBI), Sep 2024While various schemes were used to defraud individuals last year, the IC3 has identified a particularly prominent method that emerged in 2023. These schemes were socially engineered and involved criminals using dating applications, social media platforms, professional networking sites, or encrypted messaging apps to establish relationships with their targets. Once trust was established, the criminals introduced the topic of cryptocurrency investment and convinced their targets to invest through fraudulent websites or apps controlled by them.The IC3 also warns of the risk of false job advertisements linked to labor trafficking at scam compounds overseas. These compounds hold workers against their will and use intimidation to force the workers to participate in scam operations.In these schemes, criminals would post false job advertisements on social media and online employment sites to target people, primarily in Asia, offering a wide range of opportunities across tech support, call center customer service, and beauty salon technicians. These opportunities would include enticing salaries, lucrative benefits as well as coverage for travel experiences and accommodation.However, upon arrival in the foreign country, victims would find their passports and travel documents confiscated, facing threats and coercion to comply with their captors.These cyber scam centers are primarily located across Southeast Asia, mainly in the poorer states of Cambodia, Laos, and Myanmar, and are operated by well-connected organized criminal groups, largely originating from China. They are often staffed by thousands of people, most of whom the criminal groups have illegally trafficked and forced to work in inhumane and abusive conditions.The UN High Commissioner for Human Rights estimates that more than 200,000 people have been trafficked into Myanmar and Cambodia to execute these online scams.Crypto kiosks and recovery as rising trendsIn addition to crypto investment fraud, the IC3 report also highlights the rise of crypto kiosks scams. Crypto kiosks are ATM-like devices or electronic terminals that allow users to exchange cash and cryptocurrency. They enable a more anonymous transaction than depositing the cash at a financial institution, making them attractive to criminals.Typically, criminals would instruct victims to use these kiosks to send funds, providing detailed guidance on withdrawing cash, locating a kiosk, and completing the transaction. These scams frequently involve QR codes, allowing the victim to send cryptocurrency directly to the criminal’s intended destination.According to IC3 data, the use of cryptocurrency kiosks to perpetrate fraudulent activity is increasing. In 2023, the division received more than 5,500 complaints reporting the use of cryptocurrency kiosks, with losses over US$189 million. Top crime types involving crypto kiosks in 2023 were tech support (46%), extortion (17%) and government impersonation (10%), all of which were among the top fraud complaints for the year.2023 crime types with cryptocurrency nexus – Complains, Source: 2023 Cryptocurrency Fraud Report, US Federal Bureau of Investigation (FBI), Sep 2024Crypto recovery schemes are another rising form of fraud, often emerging as the next iteration of a fraud scheme.In these schemes, criminals would pose as representatives from businesses offering crypto tracing services, falsely claiming they can recover lost funds.They would typically contact individuals who lost money from the scheme via social media or messaging platforms or advertise their fraudulent cryptocurrency recovery services in the comment sections of online news articles and videos about crypto; among online search results for cryptocurrency; or on social media.These fraudsters would charge an up-front fee and either cease communication after receiving an initial deposit or produce an incomplete or inaccurate tracing report and request additional fees to recover funds. To appear legitimate, they may also falsely claim affiliation with law enforcement or legal services.Global crypto activity continues to grow this year, driven by the launch of bitcoin and ether exchange-traded funds (ETFs) in the US, rising adoption in developing economies and a rebound in crypto prices.Data from Chainalysis show that between Q4 2023 and Q1 2024, the total value of global crypto activity rose substantially, reaching higher levels than those of 2021 during the crypto bull market. This growth was mainly fueled by lower-middle income countries, with nations in Central and Southern Asia, as well as Oceania (CSAO) recording the strongest increase crypto adoption.The launch of spot bitcoin and ether exchange-traded funds (ETFs) in the US this year also played a key role in boosting adoption. A recent Gemini survey reveals that 37% of US cryptocurrency owners now hold some of their crypto through an ETF. Moreover, 13% of respondents own cryptocurrencies exclusively through an ETF, underscoring the role of these instruments in driving growth within the sector and improving accessibility.The price of bitcoin increased substantially in 2023, soaring by a staggering 153% from about US$17,000 in January to about US$43,000 by the end of the year.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/fbi-crypto-report-fraud-surges-driven-by-investment-scams</link><guid>3750</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>FBI Crypto Report: Fraud Surges Driven by Investment Scams</dc:text></item><item><title>SmartStream Upgrades Its Data Automation Platform with AI Capabilities</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSmartStream, a financial transaction management solution provider, has launched version 9 of its Air platform, offering enhanced data automation and intelligence capabilities.The new release aims to enhance data management across front-to-back office operations in financial institutions.Key features of version 9 include the Air Data and Air Cash modules, both utilising AI and machine learning technologies.Air Data automates various tasks such as data cross-checking, error detection, and trade record comparison.It also enhances internal data quality by identifying inconsistencies.The Air Cash module focuses on simplifying cash reconciliations, even handling complex scenarios.The platform prioritises security, adhering to DORA and PCI compliance standards.Built on SaaS technology, it is designed to be globally accessible, scalable, and cost-effective.Andreas BurnerAndreas Burner, Chief Technology Officer, SmartStream, said,“Today, companies are overwhelmed by large amounts of complex or unstructured data, which often impedes their ability to gain critical operational and commercial insights. Version 9 transforms data into a strategic asset, enabling customers to enrich their data with greater ease.Through observational learning, it offers intelligent suggestions of how best to gain valuable insights from data – significantly boosting competitiveness. The introduction of low-code / no code environment makes it easy to deploy, operate and scale”.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/smartstream-upgrades-its-data-automation-platform-with-ai-capabilities</link><guid>3751</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>SmartStream Upgrades Its Data Automation Platform with AI Capabilities</dc:text></item><item><title>IN Groupe in Talks to Acquire IDEMIA Smart Identity</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIN Groupe, a French identity solutions provider, has entered exclusive negotiations to acquire IDEMIA Smart Identity, a key division of IDEMIA Group.The acquisition would create a new entity with over €1 billion in sales, bolstering IN Groupe’s presence in Europe, the Middle East, Africa, Latin America, and Asia.The combined capabilities would provide enhanced access to critical segments of the identity value chain, including chip design and advanced software, crucial for secure identity documents.This acquisition aligns with IN Groupe’s growth strategy, addressing the increasing demand for secure identity solutions, the trend towards digitalization, and the rise of European standards in the digital identity ecosystem.The French state, IN Groupe’s sole shareholder, supports the acquisition.The transaction, subject to regulatory approvals and consultations, is expected to close in 2025.Agnès DialloAgnès Diallo, CEO of IN Groupe, said,“We are looking forward to joining forces with IDEMIA Smart Identity to create a new global leading player for advanced and secure identity solutions. This is a unique and transformative milestone for IN Groupe.It is fully aligned with our strategy to consolidate our position in physical and digital identity at a global scale to better serve our clients. IDEMIA Smart Identity’s teams, technologies and solutions, perfectly complement our own capabilities and I firmly believe that coming together would strongly benefit our customers.”Pierre BarrialPierre Barrial, CEO of IDEMIA Group, said,“We are reaching a decisive milestone with this project to sell IDEMIA Smart Identity, one of the leading providers of secure identity solutions, to create a market leading player.With €2.5 billion in revenue, 12,500 employees, and 4,000 customers with its Secure Transactions and Public Security divisions, IDEMIA Group would embark on a new chapter in its history and remain focused on delivering mission critical solutions powered by biometrics and cryptography addressing specific market segments, and accelerating its future growth”.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/in-groupe-in-talks-to-acquire-idemia-smart-identity</link><guid>3747</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>IN Groupe in Talks to Acquire IDEMIA Smart Identity</dc:text></item><item><title>HSLU-Analyse: Wie wird die Investment App Yuh genutzt?</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie von PostFinance und Swissquote lancierte Smartphone-App Yuh ist mittlerweile die am zweithäufigsten genutzte Smartphone-Bank der Schweiz.Rund 3.5 Jahre nach ihrer Einführung nutzen bereits über 250’000 Menschen die App. Für den IFZ Retail Banking Blog wurden mir verschiedene interessante Kennzahlen zur Nutzung und zu den Nutzerinnen und Nutzern von Yuh zur Verfügung gestellt.Die Nutzerbasis von über 250’000 Personen verteilt sich auf verschiedene Altersgruppen. 45 Prozent der App-Nutzer sind jünger als 35 Jahre, und 72 Prozent sind jünger als 45 Jahre (siehe Abbildung 1). Zum Vergleich: Das Median-Alter in der Schweiz beträgt rund 46 Jahre. Das bedeutet, dass 50 Prozent der Bevölkerung jünger und 50 Prozent älter als 46 Jahre alt sind.Abbildung 1: Altersverteilung von Yuh (Stand: Ende August 2024; Quelle: Yuh)Neben dem tendenziell eher jüngeren Publikum zeigt sich auch eine klare Tendenz in der Geschlechterverteilung: 70 Prozent der Nutzer sind männlich, während 30 Prozent weiblich sind. Gemäss Angaben von Yuh konnte der Frauenanteil aber gesteigert werden. Laut Angaben von Yuh konnte der Frauenanteil jedoch gesteigert werden. Lag dieser zu Beginn noch bei nur 20 Prozent, so konnte er inzwischen erhöht werden.Kontostand von CHF 8’900Die Verteilung der Nutzer nach Regionen entspricht weitgehend der Bevölkerungsdichte in den einzelnen Kantonen. In Zürich beispielsweise, dem bevölkerungsreichsten Kanton, finden sich 18% der Yuh-Nutzerinnen und -Nutzer, was auch dem Anteil an der Gesamtbevölkerung der Schweiz entspricht. Es ist jedoch eine leichte Tendenz erkennbar, dass Yuh in urbanen Kantonen (bspw. Basel, Genf) etwas stärker vertreten ist als in ländlichen Gebieten.Die Yuh-Nutzerinnen und -Nutzer verfügen im Durchschnitt über einen Kontostand von CHF 8’900. Rund 60 Prozent der Kundinnen und Kunden nutzen die innerhalb der App angebotenen Sparprojekte.Nutzung der App, 75’000 Unique UserDie Yuh-Nutzerinnen und -Nutzer zeigen eine bemerkenswert hohe Aktivität. Im Durchschnitt loggen sie sich mehrere Male pro Monat in die App ein.Aktuellen Daten zufolge sind täglich 75’000 unique Nutzer aktiv, während 155’000 die App mindestens einmal pro Woche nutzen. Innerhalb der letzten 30 Tage haben sich sogar 220’000 Nutzerinnen und Nutzer mindestens einmal in die App eingeloggt, was einer – aus meiner Sicht – beeindruckenden Aktivitätsrate von 88 Prozent entspricht.Krypto-Investoren und HandelsaktivitätenEine beachtliche Anzahl von 38 Prozent aller Yuh-Nutzerinnen und -Nutzer, also 95’000 Personen, investiert derzeit via Yuh in Kryptowährungen. Unter diesen Investierenden sind 88 Prozent männlich. Der durchschnittliche Handelsbetrag für Kryptowährungen liegt bei etwa CHF 375 pro Transaktion.In einer Studie, welche wir im November im Rahmen der IFZ Retail Banking Konferenz veröffentlichen werden, werden wir aufzeigen, dass diese hohe Zahl deutlich überdurchschnittlich ist für die Schweizer Bevölkerung. Offensichtlich ist es also Yuh gelungen, viele Krypto-Interessierte als Kundinnen und Kunden zu gewinnen.Insgesamt halten 50 Prozent der Yuh-Nutzer Wertschriften wie Aktien, ETFs und Kryptowährungen, wobei auch hier der männliche Anteil mit 87 Prozent überwiegt. Das durchschnittliche Depotvolumen beträgt CHF 5’600.Yuh nutzt als einzige mir bekannte Bank die Möglichkeit von sogenannten «Fractional Shares» in der Breite (willBe bietet das auch an, aber nur für einzeln Aktien).Das bedeutet, dass Kundinnen und Kunden einen Bruchteil einer Aktie oder eines ETFs erwerben können, wodurch sie anteilig auch Dividenden erhalten. Dabei agiert Yuh als Käufer und fungiert als eine Art Treuhänder für die Kundschaft. Beim Erwerb von «Teilaktien» erhalten die Kundinnen und Kunden jedoch kein Stimmrecht und werden nicht ins Aktienregister eingetragen.Die technische Umsetzung solcher Lösungen ist zwar komplex, aber sie sind stark auf die Bedürfnisse von Retailkundinnen und -kunden ausgerichtet, wie die Zahlen von Yuh zeigen: Laut Yuh entfallen beeindruckende 50 Prozent aller Trades auf Fractional Shares.FazitYuh etabliert sich zunehmend als wichtige Finanzplattform in der Schweiz und zieht dabei eine breite und diverse Nutzerschaft an. Die hohe Aktivität der Kundschaft und das wachsende Interesse an innovativen Investmentmöglichkeiten wie Kryptowährungen und Fractional Shares zeigen auf, warum die App möglicherweise erfolgreicher ist als andere Angebote.Die Benutzerbasis ist geografisch breit gestreut, zeigt aber eine Tendenz zu eher jungen, urbanen und männlichen Nutzern. Das durchschnittliche Kundenvermögen bei Yuh ist auf den ersten Blick noch eher tief. Einerseits kann dies mit der Altersstruktur zusammenhängen (Gut 72% der Yuh-Kundschaft sind unter dem Schweizer Median-Alter). Als Zweites wird Yuh wohl häufig (noch) als Zweitbank genutzt. Zudem sind Vermögenswerte von unter CHF 10’000 bei vielen klassischen Retailkunden ebenfalls nicht ungewöhnlich..Mit Blick auf den hohen Anteil von Trades mit Fractional Shares wird ein klares Kundenbedürfnis deutlich:Warum bieten andere Banken diesen Service nicht an?Dieser Artikel erschien zuerst auf dem HSLU-Retailbanking-Blog]]></description><link>https://fintechnews.eu/hslu-analyse-wie-wird-die-investment-app-yuh-genutzt</link><guid>3748</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>HSLU-Analyse: Wie wird die Investment App Yuh genutzt?</dc:text></item><item><title>LSEG Simplifies Data Access with DataScope Warehouse Launch</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxLondon Stock Exchange Group (LSEG) has announced the launch of DataScope Warehouse.This is a cloud-based solution designed to provide enterprise clients with easy access to its extensive fixed income and equity data.The platform supports Structured Query Language (SQL), allowing users to query LSEG’s Pricing and Reference database.It also enables collaboration by offering access to LSEG’s data through various cloud partners.The service offers immediate access to a comprehensive range of data, including global equities, derivatives, bank loans, and funds, sourced from more than 180 exchanges worldwide, including emerging markets.LSEG’s Pricing Data Service covers over 2.8 million fixed income securities and derivatives, providing independent, transparent pricing.Its Reference Data offers global coverage of over 80 million active and matured financial instruments across a broad spectrum of asset classes.Initially available on the Snowflake cloud infrastructure, DataScope Warehouse will expand to other cloud providers through 2025.Kristin HochsteinKristin Hochstein, Global Head of Pricing and Reference Services commented,“Our customers are looking for flexible solutions that allow them to consume as much data as they need exactly when they need it.The launch of DataScope Warehouse will be key in enabling our customers to spend less time on data remediation and more on discovering insights and boosting productivity in their businesses.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/lseg-simplifies-data-access-with-datascope-warehouse-launch</link><guid>3746</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>LSEG Simplifies Data Access with DataScope Warehouse Launch</dc:text></item><item><title>Argentina’s Top 3 Digital Banks Capture Nearly 90% Market Share</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxUalá, Brubank and Naranja X dominate the Argentinian digital banking sector, collectively serving 16.44 million customers and holding an 88% share of the market, a new analysis by C-Innovation, a French fintech-focused research firm, reveals.These digital banks have managed to establish themselves as key pillars of the digital banking ecosystem, carving out substantial user bases by focusing on innovation, financial inclusion, and customer-centric services, the report says. Their growth has been driven by strategic product offerings, user-friendly platforms, and the ability to meet the evolving needs of Argentine consumers.Ualá, one of Argentina’s leading fintech players, offers a comprehensive financial platform that includes prepaid cards, personal loans and bill payment services. Its user-friendly app and focus on financial inclusion make it particularly popular among younger consumers and those previously underserved by traditional banks. Ualá serves 6 million customers, recording a 13% year-over-year (YoY) growth between 2023 and 2024.Ualá has heavily relied on a mergers and acquisitions (M&amp;A) to grow and broaden its product offerings. The acquisition and rebranding of Wilobank to Uilo Bank have expanded Ualá’s service offerings, integrating traditional banking into its digital ecosystem. Additionally, Ualá’s acquisitions of Empretienda, an e-commerce platform for entrepreneurs, and Ceibo Créditos, a fintech company specializing in credit services, have further strengthened the company’s market position.Brubank, launched in 2018, provides a wide range of banking services, including savings accounts, loans, and investment options. Its seamless digital experience and no-fee model have attracted a broad customer base, particularly among tech-savvy individuals seeking an alternative to traditional banking. Brubank serves 5.81 million customers, recording a 14% YoY growth between 2023 and 2024.Finally, Naranja X, originally known for its credit cards, has evolved into a full-fledged digital bank offering accounts, loans, and investment products. The company has leveraged its strong brand legacy and established customer relationships to tap cross-sell opportunities and boost its growth. Naranja X serves 4.63 million customers, recording a 84% YoY growth between 2023 and 2024.Digital banking in Argentina, Source: C-Innovation, Aug 2024Argentina’s digital banking landscapeUalá, Brubank and Naranja X are among the seven licensed digital banking bands in Argentina, along with Banco Del Sol, IUDÚ, Openbank, and Uilo Bank (formerly Wilobank).Mercado Pago is another leading neobanking company mentioned in the report, though without a formal banking license. Mercado Pago began in 2003 as a payment solution within the Mercado Libre e-commerce platform before evolving into a leading neobanking player in Argentina and across the broader LatAm. The company now serves 7 million customers in Argentina and 49 million users across the broader LatAm region, offering a broad range of financial services, including a digital wallet, QR code payments, prepaid cards, loans and investment services.One of the greatest strengths of Mercado Pago is its seamless integration within the Mercado Libre ecosystem. This integration allows it to leverage Mercado Libre’s extensive user base and tap cross-selling opportunities that other digital banks cannot easily replicate. This helps boost customer loyalty and provides a steady stream of transactional data, which can then be used to refine and expand its product offerings.Mercado Pago’s global reach, combined with its deep penetration in Argentina, positions it as a strong competitor in the marketForeign leaders eye Argentinian marketArgentina’s already crowded digital banking sector is bracing for heightened competition with the potential entry of Revolut and Nubank. The arrival of these global giants is expected to reshape the market landscape by introducing substantial resources, cutting-edge products, and valuable experience from other regions. This shift could challenge the dominance of local players and bring new dynamics to the competitive environment, C-Innovation says.Revolut, which has already established a strong presence in Europe and parts of LatAm, is now targeting Argentina as a key market for expansion. Earlier this year, it launched a search for “head of expansion” to lead its efforts in the country, including establishing a local team and navigating regulatory approvals.C-Innovation expects that Revolut’s entry will disrupt the Argentinian market. The company’s offerings, which include multi-currency accounts, international remittances, and cryptocurrency trading, surpass those of local neobanks, giving it a competitive edge. Furthermore, Revolut’s profitability in 2023 gives it the financial muscle needed to invest in advertising and market penetration, making it a strong competitor in Argentina.Nubank, the largest digital bank in LatAm, entered Argentina in 2019 but withdrew shortly after due to the challenging macroeconomic environment. However, in a recent interview, Cristina Junqueira, co-founder and chief growth officer of Nubank, stated that the company might reconsider re-entering Argentina if the macroeconomic conditions improve.She emphasized that while Argentina is a significant market with a large population eager for better financial services, the country’s economic instability remains a major hurdle. Should Nubank decide to re-enter the market, its deep understanding of LatAm and its ability to tailor products to local needs could give it an edge over newer entrants like Revolut, C-Innovation says.Nubank serves more than 100 million customers across Brazil, Mexico, and Colombia, providing a fully digital bank account, credit cards, investment products, a digital wallet, and more.This article first appeared on fintechnews.amFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/argentinas-top-3-digital-banks-capture-nearly-90-market-share</link><guid>3745</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Argentina’s Top 3 Digital Banks Capture Nearly 90% Market Share</dc:text></item><item><title>Boerse Stuttgart Provides Crypto Infrastructure to DZ Bank</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxBoerse Stuttgart Digital is the crypto infrastructure partner of DZ BANK, representing the German cooperative banking group – one of the largest banking groups in Europe and the second largest one in Germany.Leveraging Boerse Stuttgart Digital’s regulated institutional crypto infrastructure solutions, DZ BANK will enable 700 cooperative banks to offer their retail customers to trade cryptocurrencies and to securely store them in licensed fiduciary custody.The implementation of the technical and operational set-up has already started. The first banks are to be connected as early as this year, with a phased roll-out and a first testing phase for selected retail customers.Matthias Voelkel“We offer Boerse Stuttgart Digital’s proven and fully regulated crypto trading and custody infrastructure to financial institutions across Europe. This is especially interesting for financial institutions which put a particular focus on professionalism, security, reliability, and trust – as does DZ BANK. Our infrastructure solutions are retail-customer-oriented, this is the towering strength of our group”,says Dr Matthias Voelkel, CEO of Boerse Stuttgart GroupFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/boerse-stuttgart-provides-crypto-infrastructure-to-dz-bank</link><guid>3743</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Boerse Stuttgart Provides Crypto Infrastructure to DZ Bank</dc:text></item><item><title>Commerzbank and Crypto Finance Offer Digital Assets in Corporate Banking</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxCommerzbank and Crypto Finance, a subsidiary of Deutsche Börse, are now offering Commerzbank’s corporate clients in Germany crypto assets. The joint service will initially focus on bitcoin and ether, targeting selected existing Commerzbank corporate clients in Germany.Under this strategic partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure trading.Combined Expertise for New Digital MarketsIn November 2023, Commerzbank became the first German universal bank to obtain a crypto custody licence under §1 Abs. 1a Satz 1 Nr. 6 of the German Banking Act (KWG). This licence enables the Bank to offer a broad range of services in the field of digital assets, particularly crypto assets. The Bank can now provide a regulatory-compliant and reliable platform for crypto custody based on blockchain technology.As a pioneer in digital assets, Crypto Finance has been enabling institutional clients to enter the crypto sector since 2017 through regulated and secure trading and custody services. Established as a FINMA-regulated provider of crypto asset solutions in Switzerland, Crypto Finance has recently expanded its presence in Germany by obtaining four licences from the Federal Financial Supervisory Authority (BaFin). This expansion allows the company to offer crypto services to all institutional clients in Germany.Gernot Kleckner“Our offering in digital assets, enables our corporate clients to seize the opportunities presented by bitcoin and ether for the first time,”explained Gernot Kleckner, Divisional Board Member Capital Markets in the Corporate Clients segment at Commerzbank, about the partnership.“We are a reliable and competent partner for our corporate clients in these future markets. Our joint solution represents the highest level of security in the trading and custody of crypto assets, which is also a standard we also share with the Deutsche Börse Group.”Stijn Vander Straeten“The partnership with Commerzbank is an important milestone for Crypto Finance as it enables us to offer more companies and institutions in Germany access to regulated crypto services,”said Stijn Vander Straeten, Chief Executive Officer of Crypto Finance.“With a solution tailored to Commerzbank, we are reinforcing our commitment to offering secure digital asset solutions across Europe. We are very much looking forward to the collaboration and to supporting the growing demand for institutional crypto services in Germany and the EU.”Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/commerzbank-and-crypto-finance-offer-digital-assets-in-corporate-banking</link><guid>3744</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/SIC-Instant-Payments.jpg</dc:content ><dc:text>Commerzbank and Crypto Finance Offer Digital Assets in Corporate Banking</dc:text></item><item><title>findependent verwaltet nun 150 Millionen Franken und 15000 Kunden</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDas ETF-Anlage-Startup findependent hat nun über 15’000 Kundinnen und Kunden für die Geldanlage App begeistern können.Das verwaltete Vermögen stieg gar um 140% auf 150 Millionen Franken.findependent wächst in allen Teilen der Schweiz schnell und in den letzten 12 Monaten besonders rasant in der Romandie und beim weiblichen Teil (+140%) der Anlegergemeinde.Das Durchschnittsalter aller Nutzerinnen und Nutzer der findependent Anlage-App liegt bei 39 Jahren. Starke prozentuale Zuwächse zeigen auch die 18 bis 25jährigen (+160%) und die Altersgruppe der “Neupensionäre” (+224%) rund um das offizielle Rentenalter.Die Summe der verwalteten Vermögen hat per Anfang September erstmals die Marke von 150 Millionen Franken überschritten. Der Grossteil (90%) des Wachstums der vergangenen 12 Monate stammt aus neu anvertrauten Geldern. Dieses Wachstum ermöglichte findependent eine verbesserte Preisgestaltung bei den Vermögensver- waltungs- und Depotgebühren.Matthias Bryner“Wir wollten diesen Preisvorteil an unsere Kundinnen und Kunden weitergeben, schliesslich sind sie es, die dieses Wachstum erst ermöglicht haben”,verrät Matthias Bryner, Gründer und CEO von findependent.“Im Laufe des Frühlings haben wir daher ein weiteres Mal die Gebühren gesenkt, auch wenn wir schon vorher der günstigste digitale Vermögensverwalter der Schweiz waren”,so Bryner.Neuer Head of OperationTobias KatzfussAufgrund des starken Kundenwachstums schafft findependent zudem neu die Stelle des Head of Operations. Per Oktober 2024 wird Tobias Katzfuss in dieser Rolle zum findependent Team stossen. Er verfügt über langjährige Bankerfahrung und war in verschiedenen Operations- und Business Development Rollen im Institutional Clients Bereich der Credit Suisse und zuletzt im Group Integration Office der UBS tätig.]]></description><link>https://fintechnews.eu/findependent-verwaltet-nun-150-millionen-franken-und-15000-kunden</link><guid>3742</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/Starkes-Wachstum-bei-findependent.png</dc:content ><dc:text>findependent verwaltet nun 150 Millionen Franken und 15000 Kunden</dc:text></item><item><title>Global Crypto Adoption Rises in 2024, Led by Developing Economies and ETF Launches</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn 2024, global cryptocurrency activity continues to grow, with developing economies leading in crypto ownership.Adoption of the new asset class is increasing worldwide, driven in part by the launch of bitcoin and ether exchange-traded funds (ETFs) in the US, which has boosted adoption, particularly in institutional transfers and higher-income regions.However, regulatory concerns remain a key obstacle, especially in the US and UK, though Europe is taking steps to address these challenges with the Markets in Crypto-Assets (MiCA) regulation.Global crypto activity on the riseGlobal crypto activity has continued to rise this year despite market volatility. Between Q4 2023 and Q1 2024, the total value of global crypto activity rose substantially, reaching higher levels than those of 2021 during the crypto bull market, data from Chainalysis show.The report says that while growth in crypto adoption was driven primarily by lower-middle income countries in 2023, this year has seen growth across countries of all income levels, supported by positive developments.Chainalysis’ findings echo those of a new Triple A Technologies research. According to the “State of Cryptocurrency Ownership Worldwide in 2024″ report, the global user base of digital currencies has reached 562 million people this year, up 34% increase from 420 million in 2023. This figure suggests that 6.8% of the world’s population are now crypto owners, with crypto ownership rising by a compound annual growth rate (CAGR) of 99% between 2018 and 2023.Crypto ownership worldwide, Source: The State of Global Cryptocurrency Ownership in 2024, Triple A Technologies, Sep 2024Central and Southern Asia and Oceania dominates crypto adoptionThis year, adoption of cryptocurrencies has been the strongest in Central and Southern Asia, along with Oceania (CSAO). The region dominates Chainalysis’s “2024 Global Crypto Adoption Index”, with seven of the top 20 countries located in CSAO. These countries are India (#1), Indonesia (#3), Vietnam (#5), the Philippines (#8) Pakistan (#9), Thailand (#16) and Cambodia (#17), all of which have demonstrated strong activity in both cryptocurrency trading and decentralized finance (DeFi) between 2023 and 2024.The Global Crypto Adoption Index is based on four sub-indexes, each measuring different aspects of cryptocurrency usage. It ranks a total of 151 countries based on factors like transaction volume, population size, and purchasing power.The 2024 Global Crypto Adoption Index Top 10, Source: Chainalysis, Sep 2024Developing economies lead crypto ownershipDeveloping economies currently lead in crypto adoption, with the United Arab Emirates (UAE), Singapore (24.4%), Turkey (19.3%), Argentina (18.9%), Thailand (17.6%) and Brazil (17.5%) showing the high levels of crypto ownership, according to Gemini’s 2024 “Global State of Crypto” report.The high penetration of cryptocurrencies in developing economies is often due to limited access to traditional banking, high remittance costs, inflation, and currency instability. These digital assets offer an attractive alternative for saving, transferring money, and accessing financial services, especially in regions with weak financial infrastructure. Additionally, the younger, tech-savvy population in these countries is more open to adopting new digital solutions.Global distribution of cryptocurrency ownership, 2024, Source: The State of Global Cryptocurrency Ownership in 2024, Triple A Technologies, Sep 2024ETF brings growth through accessibilityThe launch of spot bitcoin and ether ETFs in the US in January and July 2024, respectively, has been among the key drivers of increased crypto adoption this year. According to the Chainalysis report, the development marked a significant milestone for the broader crypto industry, and spurred significant growth in crypto activity across all regions, particularly in institutional-sized transfers and in higher-income regions like North America and Western Europe.In the US, 37% of cryptocurrency owners surveyed by Gemini in 2024 reported holding some of their crypto through an ETF, underscoring the role of these instruments in driving growth within the sector. Notably, 13% of respondents said they own crypto exclusively through an ETF, indicating that many investors entered the market via ETFs when they were introduced this year.The introduction of spot bitcoin ETFs earlier in 2024 generated considerable enthusiasm. Within the first month of trading, daily trading volume totaled nearly US$8 billion, marking a 63.8% increase from the previous peak of US$4.7 billion on January 11, 2024, the first day of trading, and reflecting strong interest from investors in this new asset class.Investors remain bullish on cryptoThis year, consumer attitudes around crypto has remained positive among owners and past owners. According to the Gemini survey, 57% of current crypto owners feel comfortable making crypto a significant part of their investment portfolios. Furthermore, 27% of past crypto owners expressed similar sentiments, indicating that many may re-enter the market.Institutional investors are also showing increasing interest in digital assets. A study by EY-Parthenon found that 94% of the 277 institutional investor decision-makers surveyed believe in the long-term value of blockchain and digital assets, with 79% considering them crucial for portfolio diversification.The long-term value of digital assets and the potential of blockchain, Source: Gaining Ground: how institutional investors plan to approach digital assets in 2024, EY-Parthenon, May 2024Additionally, 38% of these respondents said they had already committed between 1%-5% of funds to digital assets or crypto-related investments, and in the case of family offices, nearly half are in that allocation range. Traditional hedge funds are reaching for digital assets gains even more aggressively than their peers, with 22% allocating greater than 5% of funds.What percentage of your funds have you allocated to cryptocurrencies, digital assets or related crypto funds/products?, Source: Gaining Ground: how institutional investors plan to approach digital assets in 2024, EY-Parthenon, May 2024Regulatory concerns as a barrierDespite increased crypto activity and rising adoption among both retail and institutional investors, regulatory concerns remain a significant barrier.In 2024, a higher percentage of respondents in the US, UK, and Singapore cited regulatory uncertainty as a key obstacle to investing in cryptocurrencies compared to 2022, according to the Gemini survey.Percentage of past owners and non-owners citing regulatory concerns as a barrier, Source: The State of Global Cryptocurrency Ownership in 2024, Triple A Technologies, Sep 2024These results align with the findings of the EY-Parthenon survey which found that while half of firms are interested in investing in tokenized assets, 28% don’t plan to invest until 2026 or later, and 30% are waiting for regulatory clarification before moving forward.Interest in investing in tokenized assets, Source: Gaining Ground: how institutional investors plan to approach digital assets in 2024, EY-Parthenon, May 2024The European Union (EU) has taken a major step toward addressing these concerns, approving in June 2023 the MiCA regulation. MiCA, set to be applicable from December 30, 2024, will introduce uniform market rules for crypto-assets across the EU, providing a more robust and transparent legal framework that is expected to foster further crypto adoption and investment in Europe.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/global-crypto-adoption-rises-in-2024-led-by-developing-economies-and-etf-launches</link><guid>3741</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Global Crypto Adoption Rises in 2024, Led by Developing Economies and ETF Launches</dc:text></item><item><title>Surge in Cashless Transactions Driven by Payment Innovations, New Regulations</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxConsumers from around the world are increasingly favoring digital payments over cash, fueling a surge in cashless transactions. A new report by Capgemini Research Institute reveals that non-cash transaction volumes worldwide reached 1,411.3 billion in 2023, up 17% from 1,202.8 billion in 2022.Even established regions like Europe experienced significant growth, with non-cash transactions rising by 15.6% between 2022 and 2023 to reach 361.1 billion.The World Payments Report 2025, released on September 10, forecasts sustained growth in cashless transactions. Global digital payments are expected to rise at a compound annual growth rate (CAGR) of 15% from 2023 to 2028, reaching a total of 2,838 billion transactions. In Europe, cashless payments are set to grow by a CAGR of 12% over the same period and reach 637.1 billion.Worldwide non-cash transactions (enterprise and retail, volume in billions, 2018-2028F), Source: World Payments Report 2025, Capgemini Research Institute, Sep 2024A heterogeneous regionIn Europe, cashless transactions are primarily composed of card transactions, credit transfers and direct debit, which accounted for 66%, 17% and 8% of non-cash transactions in 2023, respectively.However, the report notes that the landscape is evolving as consumers increasingly adopt alternative payment methods like instant payments and e-money, including digital wallets. The pan-European instant payment scheme, SEPA Instant Credit Transfer (SCT Instant), was launched in 2017 and by Q1 2024, 17.3% of all SEPA credit transfers were instant, the report says. Instant payments made up 4% of payment transactions in 2023, while digital wallets accounted for 5% of payment transactions, data from the report show.Despite SEPA harmonization efforts, the European payments landscape remains fragmented with nearly 30 retail payment systems active in the eurozone as of H1 2023.Furthermore, customer preferences vary greatly across countries. In Germany and the Netherlands, users tend to favor bank transfers such as iDeal in the Netherlands, while in France, customers prefer local card schemes. Mobile wallets, such as the unicorn Satispay in Italy or Bizum in Spain, are gaining popularity and adoption.Payment mix: New payments vs traditional payments (% of transaction volume by region, 2023), Source: World Payments Report 2025, Capgemini Research Institute, Sep 2024Banking consortium launches digital wallet WeroTo address Europe’s fragmented payment landscape, the European Payments Initiative (EPI) started rolling out this year Wero, a new mobile wallet. Leveraging SCT Inst, Wero enables instant payments across the eurozone, aiming to simplify digital payments and promote the EU’s strategic financial autonomy.Wero allows users to send and receive money instantly using phone numbers, QR codes, or email addresses. Initially focused on person-to-person payments using phone numbers, QR codes, or email, Wero plans to expand by 2025 to support payments for small businesses, online merchants, and recurring bills, with in-store payments and additional features arriving by 2026.Industry observers say Wero will offer European banks a competitive alternative to bigtech wallets like Apple Pay and Google Pay, enhancing their ability to compete in the digital payments market. The solution will also streamline Europe’s diverse payment systems under one brand, improving user experience and fostering cohesion across the continent.Wero was launched in Germany and Belgium in July. France will follow this autumn, with the Netherlands and Luxembourg joining later in 2024.EPI is an initiative launched in 2021 by 16 European banks and financial services institutions. These institutions include BBVA, BNP Paribas, Groupe BPCE, Deutsche Bank and ING. EPI’s members currently represent more than 70% of retail banking customers in Belgium, France, and Germany.Wero: A unified solution and an alternative to traditional payment methods, Source: World Payments Report 2025, Capgemini Research Institute, Sep 2024Government initiatives fuel the rise of cashless transactionsIn Europe, the rise of cashless payments has largely been driven by government policies designed to create a more connected financial ecosystem in Europe.One key initiative for 2024 is the One-Leg-Out (OLO) Instant Credit Transfer (OCT Inst) service. Launched by the European Payments Council in November 2023, OCT Inst is a cross-currency payment system designed for processing international instant credit transfers between accounts. The service aims to speed up international payments, increase cost transparency, and improve payment traceability.2024 also saw the launch of the Instant Payment Regulation (IPR). The regulation, which entered into force in April 2024, mandates that all eurozone payment providers must be able to receive instant payments by January 2025 and send them by October 2025. Non-eurozone markets have until 2027 to comply. Any fees for these instant payments must be the same as or lower than those for standard credit transfers. The IPR aims to ensure instant payment availability, standardization, fair pricing, and enhanced security across Europe.Another key initiative is the Payment Service Directive 2 (PSD2). Introduced in 2018, PSD2 marked a pivotal regulatory step by mandating consent-driven access to payment and account data for third-party providers, laying the groundwork for open banking.Open banking boosts cashless payments by allowing banks to securely share customer information with other financial services. This fosters innovation and competition in payment solutions, creating more options for easy and secure payments.The European Union (EU) is now overhauling PSD2 with the Payment Services Directive 3 (PSD3). This directive, slated for publication in late 2024 or early 2025, will introduce more stringent customer authentication rules and tighten control over access to payment systems and account information.Complementing PSD3, the commission also proposed a regulation on a framework for financial data access (FIDA) in June 2023. This initiative seeks to promote open finance and data-driven financial services by granting consumers greater control over their financial data.Key regulatory and industry initiatives are driving payments transformation, Source: World Payments Report 2025, Capgemini Research Institute, Sep 2024Digital B2B transactions on the riseBesides retail payments, business-to-business (B2B) payments are also in the midst of a digital revolution, driven by widespread digitalization among companies and fintech innovations catering to both small businesses and large corporations.This surge is further being propelled by the explosive growth of B2B online marketplaces. In 2023, there were nearly 750 online marketplaces globally, and projections for 2025 exceed 1,000, the report says.In 2023, B2B non-cash payment transactions totaled 51.6 billion in Europe, up from 46.5 billion in 2022. This trend is expected to continue with a 10.8% year-over-year increase in 2024 and an 11.4% CAGR from 2023 to 2028. By 2028, Europe is projected to become the largest market for B2B non-cash payments, representing 32.3% of global transactions with an estimated 89.9 billion transactions.B2B non-cash payment transactions are fast catching up with the digital trend, Source: World Payments Report 2025, Capgemini Research Institute, Sep 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/surge-in-cashless-transactions-driven-by-payment-innovations-new-regulations</link><guid>3739</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Surge in Cashless Transactions Driven by Payment Innovations, New Regulations</dc:text></item><item><title>PostFinance, Sygnum and UBS Will Study Swiss Franc Deposit Token Feasibility</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTo assess the feasibility and potential benefits of a deposit token in Switzerland, the Swiss Banking association members PostFinance, Sygnum, and UBS have signed a Memorandum of Understanding(MoU).This MoU demonstrates their commitment to designing and implementing an initial Deposit Token PoC, focusing on two main use cases in the areas of peer-to-peer payments and digital assets settlement.The MoU outlines the shared objectives of conducting the PoC during the course of 2025 and addresses the resulting inter-institutional technical and legal challenges.The joint work aims to provide a non-binding evaluation for all interested financial market participants on how such a deposit token design may be implemented, potentially leading to a nationwide rollout of the Swiss franc deposit token.However, a successful PoC will not prejudge a decision on a rollout.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/postfinance-sygnum-and-ubs-will-study-swiss-franc-deposit-token-feasibility</link><guid>3740</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>PostFinance, Sygnum and UBS Will Study Swiss Franc Deposit Token Feasibility</dc:text></item><item><title>HSG Startup Accelerator Erhält 5.4 Mio. CHF Sonderkredit vom Kanton</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDer St.Galler Kantonsrat hat am Montag einem Sonderkredit von 10 Mio. Schweizer Franken zum Ausbau der Startup-Förderung zugestimmt.5.4 Mio. davon werden eingesetzt für den «HSG START Accelerator». Dieser ist ein Gemeinschaftsprojekt der Universität St.Gallen (HSG) zusammen mit dem Switzerland Innovation Park Ost und START Global.Die restlichen 4.6 Millionen Franken sollen die bestehende Stiftung «Startfeld» stärken.Der «HSG START Accelerator» ist als Stiftung organisiert, die im Juni 2024 gegründet wurde. Er soll das führende Accelerator-Programm Europas werden und starke, technologieorientierte Startups auf ihrem Wachstumskurs begleiten.Das Programm bereitet die nationalen und internationalen Jungunternehmen gezielt auf die Wachstumsphase vor. Es hilft ihnen mittels intensiver Coachings und Vernetzung, ihre Überlebenschancen und ihre Attraktivität zu erhöhen, insbesondere für Risikokapital-Investor:innen. Die Stiftung hinter dem Accelerator soll künftig selbsttragend sein.HSG und kantonale Standortförderung entwickelten StrategieDer Kanton St.Gallen stärkt mit diesem Parlamentsentscheid weiter seine Attraktivität als Standort für innovative Jungunternehmen. Die Idee des Accelerators basiert auf einer Startup-Strategie, die der HSG-Startup-Experte Prof. Dr. Dietmar Grichnik und ein Team des Center for Entrepreneurship (CfE-HSG) entwickelt haben. Dies geschah im engen Austausch mit der Standortförderung des Kantons St.Gallen, die die Strategieentwicklung in Auftrag gegeben hatte.Basierend auf dieser Strategie wurden die HSG Entrepreneurial Journey Programme im neuen Prorektorat Innovation &amp; Qualität entwickelt. Diese Programme sollen an der HSG Innovationen auslösen, Ideen inkubieren und skalieren und diese auf den Markt bringen. Die erste Förder- und Transferstrategie wurde auf den Weg gebracht.Neben der HSG trägt START Global den Accelerator mit. Diese Organisation wird in Freiwilligenarbeit von rund 100 HSG-Studierenden geleitet. Diese organisieren jährlich in den Hallen der Olma Messen den START Summit, Europas grösste Gründerkonferenz.Der dritte Partner, der Switzerland Innovation Park Ost, ist eine gemeinsame Initiative von öffentlichen Institutionen, Wissenschaft und Privatwirtschaft. Er ist Teil des Netzwerks Switzerland Innovation, das sechs Haupstandorte in der Schweiz unterhält und auf einem gesetzlichen Auftrag des Bundesrates basiert.Featured image credit: edited from freepik.]]></description><link>https://fintechnews.eu/hsg-startup-accelerator-erhalt-54-mio-chf-sonderkredit-vom-kanton</link><guid>3738</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>HSG Startup Accelerator Erhält 5.4 Mio. CHF Sonderkredit vom Kanton</dc:text></item><item><title>Tech Consulting Firm Whizkey Mulls Swiss Expansion Amidst Global Growth</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxWhizkey, a global software design and consulting firm, is considering expansion plans in Switzerland.The company is exploring potential office openings in Zürich and Geneva as part of its plan to strengthen its footprint in Europe, with the Zürich office potentially serving as Whizkey’s European hub, while Geneva would support regional development.Switzerland’s reputation as a financial and technological hub makes it a strategic location for Whizkey’s next phase of growth.Aligned with Switzerland’s sustainability goals, Whizkey plans to incorporate environmentally friendly practices into its operations if the expansion proceeds.Founded over a decade ago by Abdulaziz Alamiri and Harsh Hirani, Whizkey has partnered with clients worldwide, reaching over 3.3 million people and generating more than US$400 million in client revenue.Specialising in AI, Robotic Process Automation (RPA), and Blockchain, Whizkey creates tailored software solutions across industries.Whizkey operates globally, with key partnerships in the UAE, Africa, North America, and Europe, and is now expanding into the United States.Leading Whizkey’s client-focused approach is Rishmeen Ronak Chashmawala, who manages the entire client journey from solution development to execution, ensuring the delivery of technology solutions that meet diverse client needs.Abdulaziz AlamiriAbdulaziz Alamiri, Chief Operations Officer, WhizKey said,“We’ve always believed in aligning our business goals with markets that share our values, and Switzerland feels like a natural fit for our next step.We’re excited about the opportunities to innovate in such a forward-thinking environment and bring our most creative solutions to life.”In addition to these expansion plans, Whizkey is developing Cogniver, a product designed to enhance the ERP landscape by using AI and automation to help businesses improve efficiency and streamline operations.Whizkey’s exploration of new locations reflects its broader global strategy, as it continues to focus on advanced technology solutions in fintech and other sectors.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/tech-consulting-firm-whizkey-mulls-swiss-expansion-amidst-global-growth</link><guid>3737</guid><author>Administrator</author><dc:content /><dc:text>Tech Consulting Firm Whizkey Mulls Swiss Expansion Amidst Global Growth</dc:text></item><item><title>Landesbank Baden-Württemberg Selects Fenergo for Cloud Onboarding and Compliance</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxLandesbank Baden-Württemberg (LBBW), Germany’s largest state bank, has selected Fenergo, to provide a new cloud-based client onboarding system to enhance its compliance processes.Fenergo will support LBBW’s business in Europe (excluding Germany), the United Kingdom and Asia and thus around 1,500 institutional and corporate customers.With total assets of €324 billion, LBBW is Germany’s largest Landesbank. The bank selected Fenergo to enhance automation of its compliance processes and increase operational efficiencies. This will strengthen the bank’s reputation and competitiveness as part of its international growth.Ruth Ormsby, Managing Director of EMEA at Fenergo, says:Ruth Ormsby“The cooperation with LBBW is an important milestone for Fenergo as we expand our footprint in Germany. Our mission is to support local financial institutions (FIs) on the path to digital transformation by applying our deep experience gained from transforming the world’s most well-known and largest FIs.”“Many German banks are focused on modernising compliance solutions especially for client onboarding and customer lifecycle management,” continued Ormsby. “Fenergo enables firms to digitalise and automate onboarding and compliance processes throughout the client lifecycle to increase operational efficiencies, improve customer experience and ensure regulatory obligations are met, thus avoiding costly penalties.”Jonathan Bashforth, Head of Compliance EMEA at LBBW, adds:Jonathan Bashforth“We expect Fenergo’s solutions to increase efficiency in the areas of onboarding and customer data management. Thanks to the higher degree of automation, we can implement regulatory changes faster while delivering more streamlined customer onboarding journeys and thus achieve greater customer satisfaction.”]]></description><link>https://fintechnews.eu/landesbank-baden-wurttemberg-selects-fenergo-for-cloud-onboarding-and-compliance</link><guid>3728</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Landesbank Baden-Württemberg Selects Fenergo for Cloud Onboarding and Compliance</dc:text></item><item><title>Crypto VC Fundraising Rebounds After Weak Year 2023</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn 2024, crypto venture capital (VC) fundraising is showing signs of recovery, with fund raised so far this year on pace to exceed 2023’s total of US$2.6 billion for 49 funds, new data released by PitchBook show.As of July 30, 2024, US$2.2 billion had been secured across 24 funds and numerous large funds are still actively being raised. This will contribute to larger fundraising totals in the next 12-18 months and reveals a positive outlook for VC fundraising for the rest of the year, the PitchBook report says.Crypto VC fundraising activity, Source: PitchBook Analyst Note: Crypto VC Funds Report, Sep 2024Crypto VC fundraising had a tough year 2023 after reaching an all-time high of US$23.7 billion raised in 2022. The sum was almost double the US$14.8 billion amassed in 2021 and surpassed the aggregate sum of the previous eight years, which totaled US$22.7 billion.However, the spike in fundraising in 2022 was followed by a steep decline in 2023, with fundraising volumes plummeting by a staggering 88.9%.In 2024, the market began to rebound, owing to a number of factors. First, the total crypto market cap recovered, reaching 93% of its previous cycle’s high in March 2024. Second, a number of projects funded during the 2020-2022 boom matured and are now entering more advanced stages of development, offering more attractive investment opportunities.In addition, negative sentiment within the crypto industry has subsided this year, driven by the adoption of digital assets by trusted, traditional financial institutions such as BlackRock, Fidelity Investments, and Franklin Templeton.In January 2024, the US Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs from asset managers including BlackRock, Invesco and Fidelity Investments, marking a significant milestone for the broader crypto industry. These regulated investment funds, now traded on traditional securities exchanges, allow investors to gain exposure to bitcoin without directly owning the cryptocurrency, thereby broadening access for everyday investors and further integrating digital assets into mainstream finance.Fund sizes increase though megafunds lackHighlighting trends in crypto VC fundraising, PitchBook notes that the size of investment funds in the crypto industry has evolved throughout the years. Initially, smaller funds dominated the young and nascent market. After 2020, as the market developed, larger funds started emerging with midsized funds worth US$100 million to US$500 million beginning to increase in number.Share of crypto VC fund count by size bucket, Source: PitchBook Analyst Note: Crypto VC Funds Report, Sep 2024Between 2022 and 2023, fund sizes declined because of the market slump, PitchBook data show. They rebounded between 2023 and July 2024, growing by a remarkable 76% from a median fund size of US$25 million to US$41.3 million.Median and average crypto VC fund size (US$M), Source: PitchBook Analyst Note: Crypto VC Funds Report, Sep 2024The report notes that while the trend of creating megafunds worth US$1 billion or more has slowed since 2023, large funds are still entering the market. These include the Pantera Fund V, which seeks to raise more than US$1 billion to offer investors exposure across a wide spectrum of blockchain-based assets.PitchBook expects that a number of these new funds will have broader investment mandates beyond crypto, blockchain, and Web3 in order to deploy their capital more effectively and mitigate the risk of over concentration in a still nascent sector. For example, crypto-native manager Paradigm, closed in June the largest fund so far this cycle, securing US$850 million to invest in early-stage crypto projects but also artificial intelligence (AI).PitchBook also highlights the sustained dominance of emerging managers in the crypto VC fundraising landscape. In 2024, emerging managers, which are defined as firms that have launched fewer than four funds, continue to lead in terms of the number of funds raised.Since 2016, these managers have raised between 77% to 87% of the crypto VC funds annually, a dominance which stems from the fact that many crypto-focused firms are relatively new.Share of crypto VC fund count by manager experience, Source: PitchBook Analyst Note: Crypto VC Funds Report, Sep 20242022 and 2023 trendsCrypto VC fundraising surged in 2022 to record-breaking levels. Several key factors contributed to this growth. First, the prolonged low-interest-rate environment punctuated by pandemic era federal stimulus led to a fundraising spike in the broader VC markets. This, combined with the extraordinary growth in the tech sector during the pandemic, fueled strong interest in emerging technologies, including blockchain and crypto.But in 2023, crypto VC fundraising declined substantially, owing to the lack of liquidity events, particularly the slowdown in token launches in the second half of 2022 and much of 2023, as well as the significant devaluation of tokens distributed during the 2021-2022 token-launch boom.Another contributing factor was the heightened regulatory scrutiny following the collapse of high-profile projects and platforms such as FTX, Celsius, and BlockFi, which led to a risk-off sentiment amonginvestors. Additionally, the global macroeconomic environment began to shift, with rising interest rates and inflation concerns making capital more expensive and harder to raise.Market capitalization of cryptocurrencies peaked at approximatively US$3 trillion in November 2021, but by December 2022, it had dropped to a two-year low of under US$800 billion, data from Coinmarketcap show. Since then, the market has rebounded and now stands at around US$2 trillion.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/crypto-vc-fundraising-rebounds-after-weak-year-2023</link><guid>3729</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/09/Crypto-VC-fundraising-activity-Source-PitchBook-Analyst-Note-Crypto-VC-Funds-Report-Sep-2024.png</dc:content ><dc:text>Crypto VC Fundraising Rebounds After Weak Year 2023</dc:text></item><item><title>Siemens Launches €300 Million Digital Bond on Blockchain</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSiemens has again issued a digital bond in accordance with Germany’s Electronic Securities Act (Gesetz über elektronische Wertpapiere, eWpG).This follows the successful issuance of its first digital bond last year. In issuing the bond, the company is supporting the trials by the Eurosystem and the Bundesbank in particular, that are aimed at testing blockchain technology for the digital financial market.Ralf P. Thomas“Since the successful issuance of our first digital bond on a blockchain, we have been rigorously focusing on the further development of this forward-looking technology. By issuing another digital bond, we are demonstrating once again our spirit of innovation and underscoring our aim to continuously drive digital solutions for the financial markets. Siemens remains a pioneer in the application of the latest technologies on the capital and securities markets,”said Ralf P. Thomas, Chief Financial Officer of Siemens AG.Peter Rathgeb“Automated processing within a few minutes shows the enormous potential of this new technology and confirms our strategy of playing a leading role in continuously shaping the digital transformation. We are proud to be an active driver of further developments in this area and of the further digitalization of the capital markets. Thanks to our successful collaboration with our project partners, we have reached another key milestone,”added Peter Rathgeb, Corporate Treasurer of Siemens AG.The current bond has a volume of €300 million and a maturity of one year. The securities transaction was settled via the private permissioned blockchain of SWIAT, and the Trigger Solution provided by the Bundesbank, making it possible to settle a Siemens bond for the first time in a fully automated manner, within minutes and in central bank money.Settlement in MinutesIn the transaction, Siemens leveraged its valuable experience with last year’s first-time €60 million digital bond issuance, which had still required a two-day settlement period. As a result, this time the settlement risk was almost fully eliminated for all parties involved.DekaBank acted as bond registrar for the transaction. BayernLB, DekaBank, DZ BANK, Helaba and LBBW invested in the securities. Deutsche Bank ensured settlement for Siemens in central bank money via the Bundesbank Trigger Solution.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/siemens-launches-300-million-digital-bond-on-blockchain</link><guid>3730</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Siemens Launches €300 Million Digital Bond on Blockchain</dc:text></item><item><title>HSLU Research: Neue Zahlen zur Entwicklung der Digital Vorsorge von Frankly</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie private Vorsorge ist ein Wachstumsmarkt, dessen Entwicklung mit Hilfe von digitalen Lösungen noch weiter an Fahrt gewinnen dürfte.In dem (durchschnittlich) kleinvolumigen Markt der wertpapiergebundenen Säule 3a scheint eine hoch standardisierte, digitalisierte und dennoch individualisierbare Lösung der richtige Weg in die Zukunft zu sein.Entsprechend erlebt die digitale Vorsorge in den letzten Jahren (volumenmässig) einen deutlichen Aufwärtstrend, der sich durch wachsende Nutzerzahlen und steigende Anlagevolumen bemerkbar macht. Ein Produkt, das sich in diesem Markt erfolgreich positioniert hat, ist „Frankly“ von der Zürcher Kantonalbank.Ich habe nachgefragt, wie die aktuellen Entwicklungen aussehen und welche Nutzergruppen die App heute ansprechen. In diesem Blogbeitrag beleuchte ich die Nutzerstrukturen.Frankly wurde im März 2020 eingeführt und betreut nach etwa 4.5 Jahren (per Ende August 2024) bereits 108’000 aktive Kundinnen und Kunden mit einem verwalteten Vermögen von über CHF 3.3 Milliarden.Seit dem Jahresstart 2024 konnte Frankly weitere 13’000 Neukundinnen und Neukunden gewinnen.Das verwaltete Volumen hat seit Jahresbeginn um CHF 800 Millionen zugenommen. Frankly bietet derzeit eine Säule 3a-Lösung sowie Freizügigkeitskonten an.Der ehemalige CEO Martin Scholl hat gegenüber diesem Blog in einem Interview im Jahr 2021 gesagt, dass Frankly langfristig (innerhalb von fünf bis acht Jahren) ein Ziel von CHF 10 Milliarden an verwalteten Vermögen erreichen will. Rund drei Jahre später ist ein Drittel dieser Zielmarke erreicht. Damit scheint man auf Kurs zu sein.Das durchschnittliche Vorsorgevermögen der Kundschaft beträgt rund CHF 30’500. Mit einem Durchschnittsalter von 39 Jahren zeigt sich, dass noch immer eher jüngere Kundengruppen die Vorteile digitaler Lösungen für ihre langfristige finanzielle Planung zu schätzen wissen. Insgesamt sind knapp 60 Prozent der Frankly-Kundschaft jünger als 40 Jahre (vgl. Abbildung 1).Abbildung 1: Altersstruktur der Kundschaft von frankly (Anfang September 2024; Quelle: ZKB Daten)Gezielte Marketingstrategien als WachstumstreiberEin wesentlicher Aspekt der positiven Entwicklung ist gemäss Angaben der ZKB die erfolgreiche Ansprache neuer Zielgruppen, insbesondere weiblicher Nutzerinnen. Der Anteil der weiblichen Kundschaft konnte von ursprünglich 33 Prozent auf nunmehr etwa 41 Prozent erhöht werden.Diese Steigerung ist vor allem auf eine gezielte Content-Marketing-Strategie zurückzuführen, die Inhalte und Kampagnen speziell auf die Bedürfnisse und Interessen von Frauen ausgerichtet hat. Ergänzt wurde diese Strategie durch die Einführung eines Referral-Marketings, das bestehende Kundinnen und Kunden motiviert, ihre Erfahrungen im persönlichen Umfeld zu teilen und damit neue Nutzerinnen und Nutzer zu gewinnen.Ich bin persönlich überrascht von der hohen Interaktionsrate bei Frankly: Im Durchschnitt loggen sich die aktiven Nutzerinnen und Nutzer 7.2 Mal pro Monat in die App ein. Dass die Kunden eine digitale Vorsorge-App, die vorwiegend zur Überwachung der Vermögensentwicklung dient, so häufig nutzen, ist bemerkenswert. Dies lässt sich aber wohl durch eine Mischung aus Neugierde, Routine, Interesse an der Marktentwicklung und dem Bedürfnis nach Kontrolle und Sicherheit erklären.Präferenzen bei Anlageprodukten: Tendenz zu höheren AktienanteilenAuch bei den Anlageprodukten lassen sich klare Trends erkennen. Im Bereich der Säule 3a wählen 33 Prozent der Kundschaft eine Option mit einem Aktienanteil von 95 Prozent, was auf eine hohe Risikobereitschaft und das Vertrauen in langfristige Renditechancen hindeutet. Knapp dahinter liegt die Option mit einem Aktienanteil von 45 Prozent, die von 32 Prozent der Nutzerinnen und Nutzer bevorzugt wird.Bei den Freizügigkeitskonten zeigt sich ein ähnliches Bild: 48 Prozent der Kundschaft entscheidet sich für ein Produkt mit einem Aktienanteil von 45 Prozent, während 39 Prozent eine höhere Aktienquote von 75 Prozent bevorzugen.FazitDie Entwicklung von Frankly verläuft weiterhin positiv, und das Volumen der verwalteten Vermögen liegt im Einklang mit dem Business Plan. Dieser Erfolg ist jedoch keineswegs selbstverständlich, wie Beispiele von anderen Banken und Versicherern zeigen. Doch warum ist Frankly erfolgreich? Dafür sehe ich vier zentrale Gründe:Erstens investiert die ZKB erhebliche Marketingressourcen in Frankly, um die Marke bekannt zu machen und Vertrauen bei potenziellen Kunden zu gewinnen.Zweitens profitiert Frankly von den Synergieeffekten innerhalb der ZKB, insbesondere durch die Nutzung bestehender Infrastrukturen und Kundenbeziehungen.Drittens überzeugt das Angebot durch eine attraktive Preisgestaltung. Und schliesslich punktet die App mit einer benutzerfreundlichen Gestaltung und einem intuitiven User Interface.Dieser Blog-Artikel erschien zuerst im HSLU-Blog]]></description><link>https://fintechnews.eu/hslu-research-neue-zahlen-zur-entwicklung-der-digital-vorsorge-von-frankly</link><guid>3731</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>HSLU Research: Neue Zahlen zur Entwicklung der Digital Vorsorge von Frankly</dc:text></item><item><title>Global Surge in UHNWIs Driven by Tech Entrepreneurs and Emerging Markets</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxOver the past 30 years, the number of ultra-high-net-worth individuals (UHNWIs) around the world have surged, driven by the technology industry boom, the expansion of financial markets, real estate price rises, globalization and the growth in emerging market economies.The Global Wealth Report 2024 by UBS attributes much of this increase to entrepreneurial activity. Specifically, UBS’s Billionaires Ambitions Report reveals that two-thirds (65%) of new billionaires  who emerged during 2022 and 2023 accumulated their wealth through organic means.Tech founders, including those behind giants like Google, Amazon and Facebook, have become some of the world’s wealthiest individuals. By creating platforms and products that billions of people use daily, they generate unprecedented revenue and profit, amassing immense fortunes often outpacing traditional industries.As of July 2024, seven of the top ten billionaires globally were tech entrepreneurs, data from Statista show. Elon Musk, co-founder of Tesla and SpaceX, led the ranking with a net worth of US$242.6 billion, followed by Amazon’s Jeff Bezos, with US$211.6 billion. Oracle’s Larry Ellison ranked fourth with US$176.3 billion, followed by Facebook’s Mark Zuckerberg at US$174.5 billion, and Google’s Larry Page at US$152.2 billion.The world’s leading billionaires as of July 2024, based on net worth (in billion US dollars), Source: Statista, Jul 2024New data from UBS also reveal a broader increase in global wealth, with more individuals reaching higher wealth brackets. In 2023, 14 individuals were at the top of the wealth pyramid, collectively owning nearly US$2 trillion. The group, though extremely wealthy, was not the smallest in terms of the number of people. The next tier comprised 12 individuals with wealth ranging from US$50 billion to US$100 billion.Below this tier is a much larger group of over 2,600 individuals who had wealth ranging from US$1 billion to US$50 billion. Below this is the band that spans between US$1 million to US$1 billion and which comprised roughly 58 million people.The global wealth pyramid 2023 (top bands), Source: Global Wealth Report 2024, UBS, Jul 2024Emerging economies drive wealth growthIn 2023, global wealth rebounded from its 3% contraction the previous year, growing by 4.2%. This growth was driven by increases in Europe, the Middle East and Africa (EMEA) at 4.8%, as well as Asia-Pacific (APAC) at 4.4%.Although global wealth has been on a steady upwards trajectory since 2008, the pace of growth differs from one region to another. APAC, for example, has experienced the fastest growth in overall wealth, up nearly 177% over the past 15 years. The Americas come in second, at nearly 146%, while the EMEA lags far behind at just under 44%.Euroclear attributes the substantial growth in private wealth in APAC to a significant transfer of wealth to a younger generation. It notes that this new generation of high-net-worth individuals (HNWIs) is tech-savvy, mobile-oriented, and seeks innovative solutions, a shift which requires the development of advanced digital platforms and modern technological infrastructure.The role of genAIFor Accenture, generative artificial intelligence (genAI) is poised to play a significant role in the future of wealth management in Asia, promising to enhance efficiencies across the value chain and enabling highly personalized client interactions at scale. Accenture’s analysis of six key genAI use cases suggests that the technology could bring hundreds of millions of dollars in profit uplift from cost optimization and productivity gains over a three year period, resulting in a total profit increase of 3.5 times.Early adopters are already integrating genAI into their services and operations. Wells Fargo is using genAI to improve customer interactions, making them more personalized and engaging; Morgan Stanley has introduced AI @ Morgan Stanley Assistant, a new internal AI model for research tasks; and JPMorgan has unveiled Moneyball, a genAI tool that helps portfolio managers make better investment decisions.The potential of DLTBoston Consulting Group (BCG) recommends a broader approach to digital transformation in wealth management, emphasizing the importance of incorporating additional cutting-edge technologies beyond AI.Among these, distributed ledger technology (DLT) stands out for its ability to record transactions across multiple participants in a decentralized ledger, visible to all participants. The BCG notes that a number of market players are already leveraging the technology to improve efficiencies and tap new growth opportunities.For example, Northern Trust, an American financial services company, has implemented DLT to enhance the transparency and efficiency of private equity fund administration; Tokenbridge, a UK-based company founded by financial services veterans, uses DLT to tokenize investments, reducing friction and lowering embedded costs; and FundsDLT, a Luxembourg-based company owned by the Deutsche Börse Group, leverages blockchain to automate various processes in fund management, streamlining operations and cutting costs for wealth managers.Wealth forecastsUBS has an optimistic outlook on global wealth, expecting continued growth in wealth per adult in almost all key markets. This year, the firm expects the share of emerging markets in global wealth to surpass 30%, a proportion which it projects will rise to nearly 32% by 2028.The percentage of adults in the lowest wealth bracket will decrease over the next five years, while the number of adults with wealth of over US$1 million is set to rise in 52 out of the 56 markets studied.Taiwan is projected to experience the most significant growth in the number of USD millionaires, with an estimated 47% increase from 2023 to 2028. While UBS anticipates that some of this sharp rise will be driven by organic wealth growth, particularly from Taiwan’s thriving microchip industry benefiting from the AI boom, a significant portion is expected to come from the immigration of wealthy foreigners.Finally, roughly US$83 trillion in wealth is expected to be passed on within the next two decades, equivalent to the total value of global economic activity in a single year. A notable amount of this wealth will move horizontally between spouses first, before moving to the next generation, while just over 10%, about US$9 trillion, is expected to be passed on horizontally first, most of it in the Americas.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/global-surge-in-uhnwis-driven-by-tech-entrepreneurs-and-emerging-markets</link><guid>3732</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Global Surge in UHNWIs Driven by Tech Entrepreneurs and Emerging Markets</dc:text></item><item><title>Top 10 Fintech Startups in France in 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFrance’s fintech sector is the third-largest in Europe, boasting a robust and rapidly expanding ecosystem.In 2023, the country’s fintech user base surpassed 73 million, generating over US$1.5 billion in revenue, according to data from Statista.France ranks just behind the UK and Germany, which recorded 98.5 million users with US$3.36 billion in revenue, and 84.27 million users with US$2.9 billion in revenue, respectively.Number of fintech users in selected European countries in 2023 (in millions), Source: Statista, Mar 2024Within this dynamic and fast-growing sector, several ventures have emerged as category leaders, recording substantial growth and garnering investor attention.Today, we look at some of France’s most successful and fastest-growing fintech startups in 2024, highlighting their value propositions, recent achievements and growth strategies.Top 10 Fintech Startups in FranceQontoQonto demo, Source: QontoFounded in 2016, Qonto is a leading European business finance solution provider. The company simplifies day-to-day banking for small and medium-sized enterprises (SMEs) and freelancers by offering an online business account integrated with various financial tools, including invoicing, bookkeeping, and spend management. The company’s goal is to become the preferred business finance solution for 1 million European SMEs and freelancers by the end of 2025.Qonto serves over 500,000 customers, operates in France, Germany, Italy, and Spain, and employs more than 1,600 people. It is currently ranked as the fifth most valuable tech startup in France, with a valuation of US$5 billion, according to CB Insights. The startup has raised EUR 622 million from well-established investors such as Tiger Global, KKR and Insight Partners, and is reportedly working on an initial public offering (IPO) planned for 2025.Most recently, Qonto launched its first in-house financing solution, further enhancing its product offering. The development marked a significant milestone for Qonto, which had previously relied on strategic partnerships for customer financing. The new short-term financing option, launched in March 2024, utilizes Qonto’s existing payment services license and is accessible through the company’s mobile and web apps. It complements the financing platform launched in 2023 through strategic partnerships, offering customers a comprehensive range of financing solutions, including amounts up to EUR 10 million.AlmaAlma app mockup, Source: AlmaFounded in 2018, Alma is a European leader in buy now, pay later (BNPL) payment solutions, dedicated to creating a more balanced and sustainable approach to commerce. The company focuses on developing financial products that empower merchants to increase sales and customer loyalty while enabling consumers to make more responsible purchasing decisions without the risk of over-indebtedness. Its tech solutions are designed to be accessible, easy to implement, and to reduce purchase friction.For merchants, Alma offers installment and deferred payment options that can generate up to 20% additional sales revenue while maintaining customer satisfaction and loyalty, the startup says. For consumers, the BNPL platform allows for an enhanced customer experience.As the leading BNPL provider in France, Alma is rapidly expanding across Europe, now processing payments in 10 countries. Over the past five years, more than 17,000 merchants have chosen Alma’s innovative solutions, and the company has served over 3.6 million consumers. Alma is recognized as part of the French Tech 120 and one of the most promising technology companies in France.To date, Alma has secured EUR 185 million in equity funding, according to TechCrunch.LedgerLedger Nano X, Source: LedgerFounded in 2014, Ledger is a world leader in the area of digital asset security. Ledger’s products, which include connected devices like the Ledger Stax, Nano S Plus, and Nano X hardware wallets, as well as the Ledger Live companion app, are used by over 6 million customers across 180 countries and in more than 10 languages. The company’s technology safeguards more than 20% of the world’s cryptocurrency assets, making it a critical player in the digital asset space.Beyond consumer products, Ledger has expanded its offerings to include Ledger Enterprise, a comprehensive digital asset custody and security solution for institutional investors and financial entities. This platform supports trading, buying, spending, earning, and managing non-fungible tokens (NFTs), solidifying Ledger’s position as a global platform for digital assets and Web3.In addition to its hardware and software solutions, Ledger offers educational resources through Ledger Academy and Quest, helping users to navigate the digital asset landscape safely and confidently.Ledger is headquartered in Paris and Vierzon, and has offices in London, New York, and Singapore. To date, Ledger has sold more than 6 million devices globally and has garnered the trust of over 100 financial institutions and commercial brands. The startup has raised over US$574 million in funding and, according to CB Insights, is valued at US$1.47 billion.Younited CreditYounited Credit mockup, Source: Younited CreditYounited Credit is a leading provider of instant credit in Europe, renowned for its continuous innovation, disruptive technology and exceptional user experience. The company offers an integrated instant credit solution within the customer journey, providing a seamless interface for payment or credit transactions, whether online or in-store. Its credit offerings extend up to EUR 50,000 with repayment terms of up to 84 months, all delivered instantly.Operating in France, Italy, Spain, Portugal, and Germany, Younited Credit generates nearly EUR 2 billion in annual gross merchandise value (GMV). Since its founding, nearly a million consumers have accessed instant, simple, and transparent credit through the platform to finance a variety of needs, such as home renovations, holidays, purchasing new smartphones, or other personal projects.Younited Credit is fully authorized as a Credit Institution and Investment Services Provider by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) since September 23, 2011. The company has raised more than US$508 million in funding and is valued at US$1.16 billion, according to CB Insights.AlanAlan illustration, Source: AlanFounded in 2016, Alan is an all-in-one health partner for businesses and freelancers, offering tailored health services focused on both physical and mental well-being to its members. The company leverages technology to provide a simple, transparent, and unique insurance offering. It was the first new health insurance provider to be licensed by the Banque de France and the ACPR since 1986.Alan offers a comprehensive health services offering that includes customized prevention plans, augmented reality for ordering glasses, access to doctors and healthcare professionals seven days a week through a virtual clinic, and psychological support. The company is known for its swift service, with a response time of just 2 minutes and 90% of healthcare expenses reimbursed on the same day, 80% of them within an hour.Alan operates across France, Spain, and Belgium, serving more than 25,000 businesses, 13,000 freelancers, and a total of 500,000 end-customers. It reports an annual recurring revenue (ARR) of EUR 350 million and a growth of ARR of more than 38% in 2023. More than 5,000 new clients, such as Celio, Clinitex, Duracell, Mantu, and Sia Partners, chose the platform last year.Alan has raised EUR 440 million since its inception and was valued at over EUR 2.7 billion during its Series E funding round in 2022.SpendeskSpendesk mockup, Source: SpendeskSpendesk is a comprehensive spend management platform designed to save businesses time and money by streamlining and connecting all aspects of company spending. The platform integrates everyday technologies, incorporates built-in automation, and features an intuitive approval process, enabling employees to manage expenditures efficiently while providing finance leaders with complete visibility over the entire company’s spend.Founded with a vision to simplify financial operations, Spendesk is trusted by thousands of companies and serves over 200,000 users across France, the UK, Germany, and Spain. The company operates offices in Paris, London, Berlin, and Madrid, emphasizing community at the core of its operations. In addition to its spend management platform, Spendesk also runs a global community of finance leaders called CFO Connect which boasts more than 12,000 members.Spendesk also provides payment solutions through a subsidiary called Spendesk Financial Services. This entity operates independently and is authorized by the ACPR to provide payment services across the European Economic Area (EEA), supporting the company’s operations with agile and secure financial services.To date, Spendesk has raised over US$300 million in funding and is valued at US$1.5 billion, according to CB Insights.Shift TechnologyShift Technology team, Source: Shift Technology via FacebookFounded in 2014, Shift Technology is a leading provider of artificial intelligence (AI)-powered decisioning solutions designed to enhance the global insurance industry. The company’s products enable insurers to optimize and automate critical decisions throughout the policy lifecycle, from underwriting to claims processing.Shift Technology employs sophisticated AI technologies to assist insurers in mitigating fraud and risk, enhancing operational efficiency, and delivering exceptional customer experiences. The company’s offerings include fraud detection software that leverages AI and machine learning algorithms to analyze extensive datasets, identify patterns, and flag potentially fraudulent claims. Additionally, its claims automation solutions streamline various aspects of the claims process, accelerating handling times, improving accuracy, and reducing the overall time required to settle claims. These solutions are utilized by leading insurers in property and casualty, travel, health, workers’ compensation, and life insurance sectors across more than 25 countries.Headquartered in Paris, Shift Technology also has offices in major cities including Boston, Frankfurt, Tokyo, Singapore, London, Madrid, Toronto, Mexico City, and São Paulo. To date, the company has raised US$320 million in funding and is valued at US$1 billion, according to CB Insights.Shift Technology has been recognized for its impact on the insurance industry, being named to the 2022 Fintech Global Insurtech 250, the 2022 CB Insights Insurtech 50, and the 2021 Digital Insurance Agenda Top 100 Insurtechs to Watch.SwileSwile illustration, Source: SwileFounded in 2018, Swile specializes in digital solutions for employee benefits, such as meal vouchers and gift cards. The company provides a super-app for employees and an accompanying payment card.The Swile Card is an all-in-one card that consolidates meal vouchers, gift vouchers, and mobility benefits onto a single smart card. Compatible with Apple and Google Pay, the Swile Card simplifies transactions and allows users to link their bank card to cover any excess amount beyond the daily limit.Additionally, the Swile App fosters team cohesion by enabling employees to send praise, organize social events, and manage collections. The app also features gamified surveys and a powerful analytics tool to gauge and enhance team engagement.Swile stands out as one of the largest players in France’s employee benefits industry, handling EUR 3 billion in transaction volume annually. It operates in France and Brazil, supporting over 5.5 million users and collaborating with 85,000 companies, including prominent names such as Carrefour, JCDecaux, PSG, and Spotify.To date, Swile has raised over US$328 million in funding, according to CB Insights, and is one of France’s tech unicorns.LydiaLydia app mockup, Source: LydiaFounded in 2013, Lydia is a leader in peer-to-peer (P2P) payments. The company provides a platform for users to send and receive money, pay bills, and manage their finances through a mobile app. It’s known for its user-friendly interface and its focus on simplifying financial transactions for its users.Lydia has gained popularity in France and has expanded its services to other countries, including Spain and Germany. It claims more than eight million users.In May 2024, Lydia launched a new strategic initiative by introducing a challenger bank called Sumeria. This move is accompanied by a significant investment of EUR 100 million and plans to hire 400 new employees over the next three years. The new strategic direction involves repositioning the Lydia app solely for P2P payment transfers between friends and contacts, while the broader banking services will be provided through Sumeria.Sumeria will offer a comprehensive suite of banking services, including current accounts, joint accounts, savings, credit, and investments, along with a dedicated IBAN and a Visa debit card. To enhance customer experience, Sumeria will also open a bank branch in Paris, designed to provide personalized support similar to the Apple Store’s Genius Bar. The company aims for Sumeria to attract five million customers within the next three years.Lydia has raised a total of EUR 235 million to date, including a US$100 million Series C round in 2021, which contributed to its unicorn status.PayFitPayFit platform, Source: PayFitFounded in 2015, PayFit is a company dedicated to simplifying payroll management and human resources (HR) processes for SMEs. The company has developed a fast, intuitive, and automated software-as-a-service (SaaS) solution designed to help business owners and HR professionals save time and money.PayFit’s platform automates the payroll process, including calculations, deductions, and payments, and handles various HR functions, such as employee onboarding, time tracking, and leave management. The solution is designed to be intuitive and easy to use, allowing business owners and HR professionals to efficiently manage their payroll and HR processes without needing extensive technical knowledge. The platform also integrates with other business systems and tools, facilitating seamless data exchange and reducing the need for manual data entry.Initially established in France, PayFit has rapidly expanded its presence to Spain and the UK, now serving over 6,500 companies, including notable names like Biocoop, Heetch, and Gymlib.As of now, PayFit has secured more than $497 million in funding and holds a valuation of US$2.1 billion, according to CB Insights.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/top-10-fintech-startups-in-france-in-2024</link><guid>3733</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Top 10 Fintech Startups in France in 2024</dc:text></item><item><title>The Top 11 Fintech Startups in Switzerland in 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your Inbox11 fintechs made it to this year’s  TOP 100 Swiss Startup list, an award organized by Venturelab.The 2024 ranking features in total 100 Startups, Yokoy is once again the highest ranking fintech.Highest fintech newcomer this year is Calvin Risk on rank 44.Of the 11 fintechs 5 were repeats from the 2023 startup ranking and 6 were newcomers.Meet the 11 Swiss fintechs that made the TOP 100 Swiss Startups 2024 list:Yokoy Group AG (#3)-1Your expenses and company credit cards on autopilotRelai AG (#24) unchangedRelai is Europe’s leading Bitcoin app, made in SwitzerlandUnique AG (#32) -1Supercharge Your Team With Unique FinanceGPTNumarics AG (#33) newSwitzerland’s digital accountantCalvin Risk (#44) newRisk management platform for AI algorithmsAktionariat AG (#51) -11Create a market for your shares with Aktionariat’s solutionsLeaseTeq AG (#56) newFully digitalized leasing provider in SwitzerlandAisot Technologies AG (#60) newAisot is pioneering a new way to investTresio AG (#62) newThe world’s smart co-pilot for SME CFOsGrape Insurance AG (#67) -32Grape is a fully digital employee insurance platformMARK Investment Holding AG (#95) newDiversify your portfolio like an expert]]></description><link>https://fintechnews.eu/the-top-11-fintech-startups-in-switzerland-in-2024</link><guid>3734</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>The Top 11 Fintech Startups in Switzerland in 2024</dc:text></item><item><title>True Wealth Reaches CHF 1.5 Billion AUM Milestone</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTrue Wealth continues to record strong and consistent growth and reaches another mileston.eThe ETF digital wealth management managed CHF 1.5 billion in client assets in its direct business as of 31.8.2024. This corresponds to growth of 47 percent within twelve months.True Wealth, founded over 10 years ago.Client assets under management increased by CHF 481 million within 12 months, which corresponds to growth of 47%. The net inflow of client assets amounted to CHF 365 million, while a positive investment result further boosted growth.The number of client relationships also increased by 48% in the same period (31.8.2023 to 31.8.2024), from 17’600 to 26’000.Felix Niederer«The steady growth is an expression of the high level of trust in True Wealth as an asset manager,»says Felix Niederer, founder and CEO of True Wealth, explaining the company’s sustained success. Innovations in the product portfolio and proximity to clients are further reasons for the strong growth.The accelerating trend towards drawing Pillar 2 (occupational pension provision) as a lump sum instead of a retirement pension is also making itself felt.«We are taking this as an opportunity to develop practical digital concepts to meet this need. With a remaining life expectancy of over 20 years at the age of 65, online asset management that offers a return on capital with an individually defined capital withdrawal rate is a suitable solution. We now offer a practical payout plan for this client group,»explains Niederer.Featured image credit: Felix Niederer, founder and CEO of True Wealth. Edited from Truewealth ]]></description><link>https://fintechnews.eu/true-wealth-reaches-chf-15-billion-aum-milestone</link><guid>3735</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>True Wealth Reaches CHF 1.5 Billion AUM Milestone</dc:text></item><item><title>ZKB bietet neu den Handel und die Verwahrung von Crypto an</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAb dem 4. September 2024 können Kundinnen und Kunden über die Zürcher Kantonalbank Kryptowährungen rund um die Uhr direkt im ZKB eBanking oder ZKB Mobile Banking Crypto handeln.Die Bestände der Kryptowährungen werden dabei in die bestehende Depotsicht integriert. Vorerst stehen Bitcoin und Ethereum zur Auswahl.Crypto VerwahrungKryptowährungen nutzen die Blockchain. Mit den Chancen und Risiken dieser Technologie beschäftigt sich die Zürcher Kantonalbank schon seit Längerem.2021 war die Bank beispielsweise an der Emission der weltweit ersten digitalen Anleihe an der SIX Digital Exchange beteiligt, 2023 wickelte sie als Joint Lead Managerin im Rahmen eines Pilotprojekts der Schweizerischen Nationalbank die Ausgabe digitaler Anleihen mit digitalem Zentralbankgeld ab.Alexandra Scriba«Unser neu lanciertes Angebot im Bereich der Kryptowährungen bietet eine hohe Sicherheit und erlaubt die Integration von weiteren Währungen und Anwendungen»,sagt Alexandra Scriba, Leiterin Institutional Clients &amp; Multinationals bei der Zürcher Kantonalbank.«Bei den Kryptowährungen übernimmt die Zürcher Kantonalbank die kritische Funktion der sicheren Verwahrung der Private Keys. Kundinnen und Kunden sowie Drittbanken benötigen somit kein eigenes Wallet und müssen sich deshalb nicht um die Verwahrung ihrer eigenen Private Keys kümmern. Beides übernimmt die Zürcher Kantonalbank.»Angebot steht auch Drittbanken offen, Thurgauer KB erste PartnerbankDie Business-to-Business-Lösung der Zürcher Kantonalbank eröffnet Schweizer Banken die Möglichkeit, ihren Kundinnen und Kunden den Handel und die sichere Verwahrung von Kryptowährungen anzubieten.Mit der Thurgauer Kantonalbank nutzt eine erste Partnerbank diese den Drittbanken zugängliche Dienstleistung bereits. Der Handel der Aufträge erfolgt über die Crypto Finance , ein Tochterunternehmen der Deutschen Börse Gruppe.]]></description><link>https://fintechnews.eu/zkb-bietet-neu-den-handel-und-die-verwahrung-von-crypto-an</link><guid>3736</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>ZKB bietet neu den Handel und die Verwahrung von Crypto an</dc:text></item><item><title>SNB Study: Tornado Cash Case Highlights the Challenge of Regulating Decentralized Services</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTornado Cash, a decentralized smart contract protocol built on the Ethereum blockchain, was sanctioned in 2022 by the US Treasury’s Office of Foreign Assets Control (OFAC) for its role in laundering over US$7 billion worth of illicit funds since 2019.The sanctions initially led to a drop in Tornado Cash use, weakening its ability to provide anonymity. However, transactions on the platform continue, reflecting the mixed effectiveness of sanctions on decentralized networks and highlighting the challenges in regulating these systems, a new research paper by the Swiss National Bank (SNB) says.The SNB working paper, released in August 2024, assesses the impact of OFAC sanctions on Ethereum communities and actors, with a particular focus on Tornado Cash.Tornado Cash is a cryptocurrency mixer operating on the Ethereum blockchain that facilitates anonymous transactions by obscuring the origins, destinations, and counterparties of funds, without attempting to identify their source. The service receives various transactions, mixes them, and then transmits them to their intended recipients. While its primary purpose is to enhance privacy, it has also been used by illicit actors to launder stolen funds.In August 2022, Tornado Cash was sanctioned by the US OFAC for money laundering. This includes over US$455 million stolen by the Lazarus Group, a North Korea state-sponsored hacking group. These sanctions were significant because they marked the first time a decentralized, non-custodial entity had been targeted, raising questions about the effectiveness of such regulatory actions.The SNB study analyzed the immediate and lasting impact of these sanctions on Tornado Cash, noting a sharp decline in the value of its governance token, TORN, which dropped by 60% within the few days of the announcements.Value of TORN tokens around sanction announcement, Source: Swiss National Bank, Aug 2024There was also a significant decrease in Tornado Cash’s transaction volumes post-sanctions, with a drop in average weekly transactions by 72%.Deposit volumes fell by 74%, from an average of 1,184 weekly deposits before the sanctions to approximately 307 weekly deposits afterward. Similarly, withdrawal volumes declined by 69%, from an average of 1,093 weekly withdrawals to about 341 weekly withdrawals. These reductions a significant decline in user engagement.Weekly deposit and withdrawal volume around sanction announcement, Source: Swiss National Bank, Aug 2024User diversity, measured by the number of unique addresses interacting with Tornado Cash, also dropped significantly, following patterns observed with transaction volumes. This suggests a lasting impact on the protocol’s usage and the privacy it offers.User diversity on Tornado Cash, Source: Swiss National Bank, Aug 2024Despite the initial decline, the SNB paper notes that the net flows into Tornado Cash contracts eventually recovered, with the number of Ethereum blocks containing Tornado Cash transactions increasing over time. Moreover, the proportion of non-cooperative blocks (those including Tornado Cash transactions) generally rose over time, suggesting continued support from network participants.Net value and volume of Tornado Cash pools, Source: Swiss National Bank, Aug 2024This is despite the fact that priority fees (extra fees paid by users to prioritize their transactions) are consistently lower for non-cooperative blocks compared to cooperative ones. This indicates that economic motives are not the primary driver behind the decision to cooperate with sanctions and that non-cooperation is often motivated by philosophical beliefs.Decentralized blockchain-based crypto mixers like Tornado Cash present unique challenges for regulatory enforcement. These services use smart contracts that autonomously run on the blockchain, providing high levels of anonymity and privacy, and their global accessibility and distributed infrastructure make them resilient to enforcement efforts.To this day, Tornado Cash remains operational and continues to be used for money laundering, experts report. According to blockchain analytics firm Elliptic, more than US$100 million in ether from the HTX/HECO heist of November 2023 has been laundered through the platform since March 13, 2024. Elliptic attributes this theft to the Lazarus Group, based on various attributes of the hack and the subsequent movement of funds.Cryptocurrencies are increasingly being used to obscure the origins and movement of illicitly obtained funds. Blockchain analysis firm Chainalysis estimates that nearly US$100 billion has been transferred from known illicit wallets to conversion services since 2019. The highest amount recorded was in 2022, with US$30 billion identified.Total value leaving illicit crypto wallets and arriving at conversion services including off-ramps, 2019-2024 (YTD), Source: Chainalysis, Jul 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/snb-study-tornado-cash-case-highlights-the-challenge-of-regulating-decentralized-services</link><guid>3726</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>SNB Study: Tornado Cash Case Highlights the Challenge of Regulating Decentralized Services</dc:text></item><item><title>Netcetera Appoints New Managing Director of the Financial Technology Division</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAs of September 2024, Edouard Papaux will take over the role of Managing Director Financial Technology at the  software company Netcetera.Together with the division, he will further develop Netcetera’s services in Financial Technology, Real Estate, and Pensions to successfully accompany customers on their journey into the digital future.Edouard PapauxEdouard brings a broad background in the financial services sector as well as a proven experience in sales management and leading transformation projects to this role.He has been Head of Business Development &amp; Sales at Viseca Card Services for the past five years, reporting directly to the CEO. Prior to that, he was Director of Business Development &amp; Innovation at the real estate company Crowdhouse and Management Consultant Digital &amp; Strategy at the management and technology consultancy BearingPoint. He also holds a Master of Arts in Business Innovation from the University of St. Gallen (HSG).Carsten WengelCarsten Wengel, CEO Netcetera, on the new appointment:“I am very much looking forward to working with Edouard Papaux and am convinced that he will successfully develop the Financial Technology division and our services together with the entire team. Financial Technology has been part of Netcetera’s core business since the beginning and we want to expand this area further. With our forward-looking software, we support our customers in reacting proactively and quickly to changing business and market requirements, thus setting themselves apart from the competition.”Featured image credit: Edouard Papaux, Managing Director Financial Technology at Netcetera]]></description><link>https://fintechnews.eu/netcetera-appoints-new-managing-director-of-the-financial-technology-division</link><guid>3727</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Netcetera Appoints New Managing Director of the Financial Technology Division</dc:text></item><item><title>Commerbank Innovation Accelerator Program for Sustainable Finance Selects First 10 Startups</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Accelerator Program for Sustainable Finance by Commerzbank in collaboration with Tenity and neosfer selected their first 10 Sustainable Finance Startups.  With Pelt8, also one Swiss Startup made the cut.This initiative aims to evaluate and accelerate a potential collaboration with Commerzbank through an organized and efficient process in Frankfurt.The selected startups represent a diverse range of innovative approaches. Each brings a unique solution in various sustainability areas such as biodiversity/climate data, real estate/renovation management, supplier management, and corporate mobility. Bettina StorckBettina Storck, Head of Group Sustainability Management at Commerzbank, says: “Sustainability is an integral part of our strategy, our aim is to become a net zero bank by 2050 at the latest. Both new ideas and innovative approaches help us advance this topic, particularly in the area of sustainable finance. We’re pleased to support the Joint Innovation Accelerator Program for Sustainable Finance and look forward to collaborating with the selected start-ups to bring expertise and innovation together.”This program includes sessions and events uniquely tailored to enable collaborations, from open exchanges, to use case definition, PoC roadmap preparation, PoC validation, fundraising, growth hacking, as well as pitch training. The program will conclude with Demo Day on 30 October 2024 at the Impact Festival in Frankfurt.Meet the 10 selected sustainable finance startups:IKOSIA | GermanyImproving energy efficiency for greater sustainability.They offer an all-in-one platform for comprehensive renovation measures.VREED | GermanyVreed makes digital technologies applicable to everyone involved in the real estate market and brings digital building twins to life.Novo | Germany Novo provides an overview of where a building stands today in terms of energy efficiency and where it can be taken in the future.Deedster | Sweden Accelerates business by connecting and engaging audiences and employees with sustainability data, insights and actions.Carployee (Pave Commute) | Austria An app for employees that recognizes and rewards sustainable commuting. It can be used to find carpools, participate in team challenges, and celebrate colleagues.KIRI | UKThe mission of Kiri is to accelerate the adoption of sustainable behaviours and drastically change the approach to sustainability by creating a community of forward-thinking consumers and brands. Veridion | RomaniaVeridion offers comprehensive business data enrichment for private companies, delivering accurate classification and real-time insights for procurement, insurance, market intelligence, and more.EIVEE | DenmarkEIVEE calculates CO2 emissions with market-leading precision across scope 1, 2 and 3. They deliver industry-leading data quality for company’s entire carbon footprint.Pelt8 | SwitzerlandPelt8 is providing a platform helping companies move away from excel spreadsheets to save time and money with their sustainability data collection and reporting.Fuchs&amp;Eule | GermanyFuchs &amp;Eule encourage as many homeowners as possible to make their homes energy efficient. To achieve this, they combine energy expertise with digital innovation, believing that now is the time to act to combat the climate crisisFeatured image credit: edited from freepik]]></description><link>https://fintechnews.eu/commerbank-innovation-accelerator-program-for-sustainable-finance-selects-first-10-startups</link><guid>3725</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Commerbank Innovation Accelerator Program for Sustainable Finance Selects First 10 Startups</dc:text></item><item><title>Yapeal Appoints New CEO and Secures Fresh Capital</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwiss Fintech company Yapeal has appointed Michael Eidel as the new Chief Executive Officer.the same time, the company announced the successful completion of a financing round, attracting new investors and strengthening the board of directors. With the increase in capital, Yapeal can advance its strategic realignment and growth phase with full force.Michael Eidel brings experience from listed financial institutions and technology companies. Most recently, he served as CEO at a financial technology company in Australia, where he drove the strategic repositioning and expansion of the company and successfully introduced an innovative technology platform for corporate clients to the market. Other positions in his career included leadership roles in commercial banks and board mandates at FinTechs in Australia and Switzerland. Michael Eidel already played a role in shaping Yapeal’s strategic realignment over the past year.Michael Eidel succeeds Thomas Hilgendorff, one of the co-founders of Yapeal, who will continue to serve as Chief Commercial Officer in the company. In this role, Thomas Hilgendorff will focus on commercial business development and the expansion of strategic partnerships.Werner Vontobel“We are very pleased to welcome Michael Eidel as the new CEO of Yapeal,”said Werner Vontobel, Chairman of the Board of Yapeal.“With his extensive international experience in the financial and technology sectors, he will play a crucial role in driving forward our strategic realignment and future growth of Yapeal.”Michael Eidel“I am excited to join the Yapeal team and lead the company successfully into the future withthe great employees,”said Michael Eidel on his appointment.“Together, we will focus consistently on the growing market for Embedded Finance solutions tailored to corporate customers and their end customers. The strategic alignment based on Yapeal’s unique Digital-First platform will enable us to accelerate our growth and take a leading role in the Swiss Embedded Finance market in the medium term.”At the same time, the company announced the successful completion of a financing round with existing and new investors. This enables Yapeal to consistently implement its strategic realignment and focused growth strategy in the rapidly growing market for Embedded Finance solutions for corporate customers and their end customers.Existing strategic investor and ERP provider Abacus reinvested in the financing round.Dominik Bollier, Christoph Burkhard, and Markus Granziol have joined as new anchor investors. Dominik Bollier and Christoph Burkhard were also elected to the board of directors of Yapeal.Featured image credit: Michael Eidel, Chief Executive Officer of Yapeal. Edited from freepik]]></description><link>https://fintechnews.eu/yapeal-appoints-new-ceo-and-secures-fresh-capital</link><guid>3724</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Yapeal Appoints New CEO and Secures Fresh Capital</dc:text></item><item><title>6 Swiss Fintech Startups Joining Tenity’s Accelerator Batch in Zurich</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Tenity Zurich Fintech Accelerator Program kicked off this week in Zurich, with 13 startups selected from over 130 applications .This specialized pre-seed program is designed for ambitious founders ready to refine their groundbreaking fintech solutions and accelerate their growth by accessing Tenity’s global network of partners, mentors, and investors.The startups impressed Tenity throughout the application process, which concluded with in-person Selection Days in Zurich.Over the next four months, these startups will engage in an intensive program featuring workshops and events focused on product-market fit, marketing, and fundraising. Besides receiving personalized support from the Tenity team, participants will benefit from the extensive Tenity ecosystem, which includes over 300 alumni from its fintech-focused programs, more than 200 mentors, and a vast network of 200+ investors.The program will conclude with a Demo Day event on 05.12.2024 where the startups will showcase their progress and pitch to an audience of investors, corporate partners, and industry leaders. Tenity remains committed to fostering innovation in the fintech sector and supporting startups that have the potential to make a significant impact.Applications are now open for our Spring 2025 Tenity Fintech Accelerators in Singapore, Zurich, and Tallinn.13 Fintech startups of Zurich Fintech Accelerator Program Batch 13:Six out of them are from Switzerland.BILLD | ItalyBILLD is a green fintech startup, which provides a disruptive digital receipt service collecting Offline Market BigData through AI.‍Settlr | SwitzerlandSettlr aims to solve post-trade issues, not just make the process more efficient. The company achieves this through a unique combination of deep domain knowledge and cutting-edge technology, including AI.‍Depoformance AG | SwitzerlandThis investment system for rental deposits allows tenants to profitably invest their deposits. This results in an increase in the deposit amount, to the landlord’s advantage through capitalization.ComplyTaxonomy.EU | NetherlandsHelping financial institutions collect data on their customers required under new sustainability regulations.Quanted | UKQuanted develop cutting-edge AI tooling that enhances asset managers’ strategy profitability by uncovering hidden correlations in the market. Our proprietary explainable AI provides 0-100% confidence scores for each trade before it’s executed, allowing our users to better manage risk, as well as detailing which factors contribute to successful outcomes.Verdant Data | SwitzerlandVD turns ESG metrics into actionable insights with process mining, AI, and real-time nudges, enabling organizations to achieve net-zero goals with precision, driving significant environmental impact.Naera | GermanyThe software enables risk-mitigated, cost-efficient and scalable financing of natural capital.UpGrid | SwitzerlandUpGrid offers a hassle-free green energy subscription for corporates and individuals, making energy sharing and trading accessible to new market segments by decoupling financial and physical flows.BondAuction | NetherlandsBondAuction is a platform for the Primary Debt Capital Markets. It delivers efficiency and transparency for Issuers, Investors, and Underwriters.Efides.io | SwitzerlandEfides is developing a business application to help commodity trading companies finance food trades by automating due diligence.TradrLab | UKTest trading strategies in minutes without coding. TradrLab is a Trading Intelligence platform that makes generate, building and optimising trading strategies fast and simple.Automated Data Inc. (ADI) | United StatesThis company equips people with the right capabilities to confidently connect and integrate their data, identify relationships across disparate datasets, and drive actionable insights.Checksum | SwitzerlandThe checksum payment solution consists only of high-quality products that have been tried and tested over many years. This allows you to benefit from various advantages.]]></description><link>https://fintechnews.eu/6-swiss-fintech-startups-joining-tenitys-accelerator-batch-in-zurich</link><guid>3723</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>6 Swiss Fintech Startups Joining Tenity’s Accelerator Batch in Zurich</dc:text></item><item><title>SIX and Diebold Nixdorf Collaborate in Cash Supply</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe digitalization of payments is progressing rapidly, and cash and cash supply are adapting to market changes.In Switzerland, cash continues to be highly valued by large segments of the population. The decline in the number of bank and post office branches and ATMs is having an impact on the availability of cash.Between 2015 and 2023, the number of bank branches fell from 3,100 to 2,600 and the number of post office branches from 1,500 to 800, while the number of ATMs fell from 7,200 at the beginning of 2020 to less than 6,400 today.In the current situation, there is a risk that the cost of providing cash will rise, putting further pressure on banks as ATM operators and driving up the cost of providing the ATM infrastructure.In order to ensure a sustainable, efficient and broad-based cash supply in Switzerland in the long term, new cooperation models are required. Against this backdrop, SIX and Diebold Nixdorf have decided to combine their expertise in cash supply and ATM operations. By combining expertise, technology and a broad partner network, the two companies are developing an innovative approach to market challenges and, together with partners such as Helveticor Ltd, are evaluating how to make cash logistics more sustainable and efficient.Goals of the CollaborationBy working together, SIX and Diebold Nixdorf are covering the entire cash supply value chain to ensure continuous optimization of ATM operations in Switzerland. For ATM users, this means the usual secure and reliable cash transactions, while banks benefit from leaner processes. The aim is to achieve efficient cash management by offering all relevant operating and management services from a sole source.Vision for Cash Supply in SwitzerlandSIX and Diebold Nixdorf believe that ATM pooling is an indispensable contribution to an efficient, nationwide and reliable cash supply in Switzerland. With ATM pooling, the Swiss banks that operate ATMs will integrate them into a separately operated network. In particular, such a network would have the task of optimizing the operation of ATMs in terms of geographical coverage, operations and cash logistics in such a way that the Swiss banks can continue to guarantee their customers and ATM users comprehensive access to cash. ATM users will also benefit from state-of-the-art ATM technology and an expanded network.The requirements for the implementation of ATM pooling will be discussed at an event in September with the Swiss banks as ATM operators.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/six-and-diebold-nixdorf-collaborate-in-cash-supply</link><guid>3722</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>SIX and Diebold Nixdorf Collaborate in Cash Supply</dc:text></item><item><title>Switzerland’s Summer Fintech Roundup: Key Developments and News Stories</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThis summer, Switzerland has witnessed significant strides in its fintech sector, including the launch of instant payments, progress in the exploration of central bank digital currencies (CBDCs), and regulatory updates.In this article, we provide an overview of these recent advancements, focusing on fintech innovations, regulatory changes, and evolving market dynamics, such as the growth of sustainable fintech and current funding challenges.Instant payments launches in SwitzerlandOn August 20, 2024, Switzerland officially launched instant payments, marking a significant development in the modernization of the country’s financial sector.Around 60 financial institutions are now able to receive and process instant payments, covering more than 95% of Swiss retail payment transactions. In the coming months, more banks will announce similar services, the Swiss National Bank (SNB) said, with all financial institutions in the country expected to be on board by the end of 2026.Instant payments allow private individuals and companies to perform account-to-account transactions with immediate execution and final settlement in seconds. This payment method has been available in Europe since 2017 and in the US since 2023.Swiss central bank advances CBDC experimentAt the beginning of June, the SNB became the world’s first central bank to carry out a monetary policy operation in a live production environment using distributed ledger technology (DLT). Specifically, the central bank successfully issued digital SNB Bills on the SIX Digital Exchange (SDX) with a token-based issuance volume of CHF 64 million and a term of one week.The initiative was part of Project Helvetia, a joint experiment between the Bank for International Settlements, SIX and the SNB. Given the success of the pilot, the central bank said it will extend the project for at least two more years and to expand its scope. It hopes to see increased participation from additional financial institutions and aims to make wholesale CBDC available for a broader range of financial transactions.FINMA publishes guidance on stablecoinsThe Swiss Financial Market Supervisory Authority (FINMA) published on July 26 new guidance on the issuance of stablecoins. This guidance emphasizes the financial market laws that apply to projects aiming to issue stablecoins, including anti-money laundering (AML) regulations and minimum requirements for default guarantees.FINMA has established technology-neutral minimum requirements for default guarantees, which also apply to stablecoins. In the event of a stablecoin issuer’s bankruptcy, each customer must have an individual claim against the Swiss bank providing the default guarantee. Customers must be informed about this guarantee, which must cover the total amount of all public deposits, including any accrued interest. The guidance also stipulates that depositors must be able to claim their guarantee quickly and without unnecessary complications.Additionally, FINMA’s guidance underscores that stablecoins can fall under the AML Act due to their common use as a means of payment and their classification as deposits under banking law. Thus, issuers are subject to a number of obligations, including verifying the identity of stablecoin holders as customers and determining the identity of the beneficial owners.Open finance: no government measures required at presentDuring a meeting on June 19, 2024, the Federal Department of Finance (FDF) updated the Federal Council on the latest developments in open finance in Switzerland, stating that the industry’s progress has been sufficient, eliminating the immediate need for government intervention and regulatory measures.The FDF highlighted the multibanking initiative launched by means of a memorandum of understanding signed by 40 banks in May 2023. This development, which focuses on opening up access to data from private accounts, savings accounts and current accounts, demonstrates the banking sector’s strong commitment to open finance, even though the Federal Council’s goals for open finance such as establishing common standards, opening interfaces and achieving scalability, have not yet been fully realized, the FDF said.Unlike in the European Union or the UK, there is no legal obligation in Switzerland for financial institutions to make financial data available to third-party providers at their clients’ request. Instead, the Federal Council expects the private sector, together with interested stakeholders, to adopt open finance principles and push ahead with the standardization and opening of interfaces on their own.Swiss fintech funding remains depressedThe Swiss Venture Capital Report’s half-year update for 2024, published on July 16, reveals that investor interest in Swiss fintech startups waned in H1 2024. During the period, fintech startups in the country raised a mere CHF 79.2 million, down 58.5% year-on-year (YoY) from CHF 191 million in H1 2023. The number of financing rounds also saw a sharp decrease, falling from 30 in H1 2023 to just 13 in H1 2024, a decline of 56.7%.In contrast, investment levels in startups in the verticals and biotech, and energy and cleantech improved significantly, reaching CHF 405.3 million (versus CHF 282.8 million in H1 2023) and CHF 160 million (versus CHF 137 million in H1 2023) in H1 2024, respectively.The downturn in Swiss fintech funding aligns with global patterns. CB Insights’ State of Fintech Q2’24 Report, released on July 16, shows that global fintech funding totaled US$16.4 billion in H1 2024. This marks a 32% YoY decline from US$24.1 billion in H1 2023.Switzerland ranks 2nd in 2024 European Fintech IndexDespite ongoing funding challenges, Switzerland remains a leading global fintech hub, ranking as the second most attractive location in Europe for fintech stakeholders in the 2024 European Fintech Index.Switzerland outpaces the Netherlands, Estonia, and the UK, thanks to its conducive business environment and the appeal of its local market to fintech players. However, it ranks just 8th in Europe for “fintech attractiveness,” behind jurisdictions like Estonia and Luxembourg.Previous research studies have highlighted the difficulties fintech companies face in the Swiss market, including funding challenges and limited international recognition. Moreover, with a population of just nine million, the local market is too small for startups to thrive, compelling young Swiss tech ventures to seek international expansion early in their development.Access to well-educated workers is another key challenge. A 2024 study by UBS, Credit Suisse, and the Swiss ICT Investor Club reveals that 46% of the founders polled are finding it hard to fill vacancies with suitable candidates. Labor market challenges are more pronounced for startups in the growth and expansion phase, with 55% of struggling to recruit qualified employees, compared to 39% for startups in the pre-seed and seed stages.Switzerland sees booming sustainable fintech industryE.foresight, a Swiss banking think tank operated by telecommunications provider Swisscom, has released its Swiss Sustainable Fintech Map, highlighting the fintech companies in Switzerland that incorporate sustainability into their core business models, operations, and products.The map shows that Switzerland is currently home to 49 companies that fall under the sustainable fintech category, providing the segment a share of 12% of the overall fintech ecosystem.The figure implies that the Swiss sustainable fintech sector rose by 53% between 2023 and 2024, growing at a much faster pace than the fintech sector as a whole (16%) during the period, data from the 2024 IFZ Fintech Study by the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) show.Moneyland.ch gets acquiredSMG Swiss Marketplace Group acquired in July a 100% of Moneyland.ch, a popular comparison platform in Switzerland. The acquisition aims to strengthen SMG Swiss Marketplace Group’s finance and insurance division and allow it to gain valuable comparison services for consumers.Founded in 2013, Moneyland.ch is a financial comparison service. The platform provides users with tools and information to compare a wide range of financial products and services, such as bank accounts, credit cards, loans, insurance policies, investments, and telecommunications plans.SMG Swiss Marketplace Group operates a network of online marketplaces. Its portfolio spans four business areas, namely real estate, automotive, general marketplaces and finance and insurance, and includes several well-known online platforms such as AutoScout24, FinanceScout24, Homegate, and Tutti.Moneyland.ch will continue to operate independently and maintain its mission of providing unbiased financial product comparisons, calculators, and information to consumers in Switzerland. The Moneyland.ch brand, platform and team will remain unchanged, and founder Benjamin Manz will continue to act as managing director, the company said.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/switzerlands-summer-fintech-roundup-key-developments-and-news-stories</link><guid>3721</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/08/Market-Launch-of-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>Switzerland’s Summer Fintech Roundup: Key Developments and News Stories</dc:text></item><item><title>Instant Payments Officially Launched in Switzerland</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxInstant payments were launched in the Swiss market on 20 August 2024.Around 60 financial institutions are now able to receive and process instant payments, covering more than 95% of Swiss retail payment transactions. By end-2026 at the latest, all financial institutions active in retail payment transactions will be reachable. The first institutions have already launched retail offerings enabling customers to send instant payments.In the coming months, further banks will announce similar services.Instant Payments are 24/7  including WeekendsInstant payments allow private individuals and companies to perform account-to-account transactions with immediate execution and final settlement in seconds – 24 hours a day, 7 days a week (including public holidays).This offers significant advantages for individuals, companies and commercial banks. Thanks to shorter settlement chains, risks are reduced and funds received are available immediately. For companies and commercial banks, instant payments expand opportunities for automating processes and linking with other services. Traditional transfers will still be possible.The Swiss National Bank and SIX InterbankClearing Ltd anticipate that instant payments are likely to become established in Switzerland in the medium term and form the basis for further innovation in payment transactions.The technical framework for this new type of payment was put in place with the successful go-live of the new generation of the central Swiss payment system in November 2023.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/instant-payments-officially-launched-in-switzerland</link><guid>3720</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Instant Payments Officially Launched in Switzerland</dc:text></item><item><title>Neue Schweizer Crypto Assets-Ökosystem Studie der Hochschule Luzern</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxIn der Schweiz und Liechtenstein hat sich in den letzten Jahren ein diverses Ökosystem rund um Investitionen in Crypto Assets entwickelt.Auch in den letzten zwölf Monaten ist dieses stetig gewachsen und hat an Vielfalt hinzugewonnen. Die Regionen Zug und Zürich beherbergen die grösste Anzahl von Unternehmen. Einen aktuellen Überblick gibt die neueste «Crypto Assets Study» der Hochschule Luzern.Zwischen Juli 2023 und Juni 2024 haben sich die Preise und die Marktkapitalisierung von Bitcoin und anderen Crypto Assets erheblich erhöht. Auch das Schweizer und Liechtensteiner Ökosystem für entsprechende Investitionen ist gewachsen – sowohl, was Anbieter als auch was Produkte angeht.Ende Juni zählten die beiden Länder insgesamt 359 Unternehmen, die Produkte und Dienstleistungen rund um Investitionen in Crypto Assets anboten. Das Crypto Valley konzentriert sich in Zug und Zürich – mit gewichtigen Ablegern in Liechtenstein, Genf, Tessin und Waadt (siehe Abbildung 1).Abbildung 1: Regionen Zug und Zürich klar führend bei Crypto-Unternehmen in der Schweiz (n=359). (Zum Vergrössern klicken)Vor allem Privatkunden scheinen Crypto Assets zu nutzenCrypto Assets entwickeln sich als Ergänzung oder teilweise als Alternative im Finanzsystem. Was anfänglich ein Geheimtipp für Blockchain-Enthusiastinnen und -Enthusiasten war, erlangt nun eine breitere Akzeptanz – so besassen bereits im Jahr 2022 rund 10 Prozent der Schweizer Bevölkerung solche Vermögenswerte. Auffällig ist, dass Privatkundinnen und -kunden scheinbar öfter auf Crypto Assets setzen als institutionelle Investorinnen und Investoren, was bei Finanzinnovationen eher ungewöhnlich ist.Vielfältiges Crypto Assets-Ökosystem in der Schweiz und LiechtensteinViele Crypto-Unternehmen konzentrieren sich auf Unternehmens- und institutionelle Kundinnen und Kunden. Entsprechend bedeutsam sind B2B-Geschäftsmodelle für das Crypto Assets-Ökosystem in der Schweiz und in Liechtenstein. Das Angebot ist vielfältig – mit einem Schwerpunkt auf zentralisierte Investmentdienstleistungen für direkte und indirekte Investitionen.Unternehmen, die Dienstleistungen für Blockchain-basierte, dezentrale Lösungen anbieten, setzen primär auf Selbstverwahrungslösungen (sogenannte «Crypto Wallets»). Fast 90 Prozent der untersuchten Unternehmen sind nicht auf nationale Märkte beschränkt, sondern auch international tätig.Steigende Tendenzen beim HandelsvolumenIm ersten Halbjahr 2024 verzeichneten die Handelsvolumina für indirekte Crypto-Produkte an den traditionellen Schweizer Börsen wieder einen Aufwärtstrend, nachdem sie in den Jahren 2022 und 2023 auf einem relativ niedrigen Niveau stagnierten (siehe Abbildung 2). Insgesamt wurden in diesem Zeitraum rund 2 Milliarden Schweizer Franken umgesetzt. Gleichzeitig stiegen auch die Handelsvolumina aus der Schweiz für direkte Investitionen in Crypto Assets über Cryptobörsen.Abbildung 2: Handelsvolumen für indirekte Crypto-Produkte an traditionellen Schweizer Börsen nehmen zwischen Juli 2023 und Juni 2024 erstmals seit zwei Jahren wieder zu. (Zum Vergrössern klicken)Vielfältige Möglichkeiten und Risiken von Crypto AssetsDie Marktrisiken zeigen sich einerseits in den sehr volatilen Preisen. Andererseits bestehen zusätzliche operationelle Risiken sowie Liquiditäts- und Kreditrisiken entlang der gesamten Wertschöpfungskette. Diese variieren je nach Art der Investition. Sprich, ob direkt oder indirekt in Crypto Assets investiert wird, und ob dies dezentral über die Blockchain («Decentralized Finance», kurz «DeFi») oder über einen zentralisierten Anbieter geschieht.Eine neu entwickelte Klassifizierungsmethode teilt Crypto Assets gemäss drei wesentlichen Kategorien ein: erstens das Design des Tokens, das festlegt, wie ein Crypto Asset technisch aufgebaut ist. Zweitens sind es die Eigenschaften des zugrunde liegenden Blockchain-Systems, auf dem das Asset basiert. Und drittens sind es die dynamischen Aspekte, wie das Crypto Asset im Markt verwendet wird. Die Marktteilnehmenden können damit die Eigenschaften von Crypto Assets strukturiert evaluieren und entsprechend ihren Präferenzen agieren.Titel-Bild Nachweis: Bearbeitet von freepik]]></description><link>https://fintechnews.eu/neue-schweizer-crypto-assets-okosystem-studie-der-hochschule-luzern</link><guid>3719</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Neue Schweizer Crypto Assets-Ökosystem Studie der Hochschule Luzern</dc:text></item><item><title>Relio bietet neu digitales Kapitaleinzahlungskonto bei Firmengründungen</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxRelio bietet neu digitale Kapitaleinzahlungskonten an, die Geschäftskunden online eröffnen können.In einer Pilotphase profitierten rund 50 Startups von der einfachen und schnellen Kontolösung für die Unternehmensgründung. Der neue Service erweitert das bestehende Angebot von Relio, das bisher operative Geschäftskonten umfasste. Relio verfügt über eine FinTech-Lizenz der FINMA und wird von namhaften Investoren wie der SIX Group, Betreiberin der Schweizer Börse, der TX Group, Eigentümerin von Tamedia, und dem High-Tech Gründerfonds (HTGF), einem der grössten deutschen Tech-VCs, unterstützt.Der neue Weg zur digitalen UnternehmensgründungDie Schweiz ist ein attraktiver Innovationsstandort mit über 50’000 Unternehmensgründungen im Jahr 2023. Doch der Enthusiasmus, ein Unternehmen zu gründen, wird oft durch die Bürokratie gebremst. Für die Gründung einer Gesellschaft mit beschränkter Haftung (GmbH) oder einer Aktiengesellschaft (AG) benötigen Unternehmerinnen und Unternehmer ein Kapitaleinzahlungskonto bei einer Bank, die mit einer Einzahlungsbestätigung belegt, dass mindestens CHF 20’000 für eine GmbH respektive CHF 50’000 für eine AG auf einem Sperrkonto hinterlegt wurden. Relio bietet Kundinnen und Kunden neu ein solches Kapitaleinzahlungskonto für die Firmengründung an.Dies, nachdem das Eidgenössische Amt für das Handelsregister (EHRA) kürzlich eine Praxismitteilung veröffentlicht hat, die es Finanzinstituten mit einer FINMA Fintech-Lizenz erlaubt, Kapitaleinzahlungsbestätigungen auszustellen. Damit hat der Schweizer Regulator den Weg für innovative Akteure wie Relio geebnet, die Unternehmensgründungen in der Schweiz digitalisieren und erleichtern. Auch komplexere Business Cases oder Gesellschaften mit ausländischen wirtschaftlich Berechtigten und internationalen Geschäftsführern profitieren von diesem Angebot. Diese Gruppe wurde bisher von vielen Banken vernachlässigt, da diese den Mehraufwand in der Compliance meiden. Mit der eigens entwickelten Compliance-Technologie kann Relio auch dieses Segment optimal abdecken.Erfolgreiche Pilotphase und neue FunktionenSeit der Pilotphase im Juni haben rund 50 Start-ups das unkomplizierte Kapitaleinzahlungskonto genutzt und die ersten Relio-Kunden sind bereits im Handelsregister eingetragen.Milos Stokic“Viele Treuhänder und Anwälte sind mit dem Bedürfnis an uns herangetreten, Firmengründungen in einem digitalen Workflow abzuwickeln. Mit dem neuen Angebot schliessen wir diese Lücke für unsere Kunden und Partner”,sagt Milos Stokic, Head of Marketing bei Relio.Bald mit Online KapitaleinzahlungsbestätigungDie Lösung wird in Kürze um weitere Funktionen ergänzt. So bietet Relio demnächst die Möglichkeit, die Kapitaleinzahlungsbestätigung mit einer qualifizierten elektronischen Signatur (QES) vollständig digital auszustellen. Ebenso können Kundinnen und Kunden demnächst eine Nachliberierung oder eine Kapitalerhöhung mit dem gleichen Service durchführen. Für Treuhänder und Rechtsanwälte möchte Relio auch die Möglichkeit der treuhänderischen Konto-Eröffnung anbieten.Bei der Produktentwicklung stand Relio in engem Austausch mit mehreren Schweizer Gründungsplattformen, die zusammen über 3’000 Firmengründungen pro Jahr abwickeln und künftig mit Relio zusammenarbeiten werden.]]></description><link>https://fintechnews.eu/relio-bietet-neu-digitales-kapitaleinzahlungskonto-bei-firmengrundungen</link><guid>3718</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Relio bietet neu digitales Kapitaleinzahlungskonto bei Firmengründungen</dc:text></item><item><title>Instant-Payment ab sofort kostenlos bei der Hypothekarbank Lenzburg</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAb heute können Instant-Zahlungen bei der Hypothekarbank Lenzburg kostenlos gesendet und empfangen werden.Silvan Hilfiker«Wir sind überzeugt, dass die neue Technologie grosses Potenzial hat»,sagt Bank-CEO Silvan Hilfiker.Was in vielen europäischen und asiatischen Ländern schon fast normal ist, kommt nun auch in die Schweiz. Ab heute ist bei ausgewählten Banken der neue Überweisungsstandard Instant-Zahlung möglich. Alle grösseren Banken sind verpflichtet, ab heute Geldtransaktionen innerhalb von zehn Sekunden empfangen zu können. Das Versenden von Instant-Zahlungen wird hingegen nur von einigen wenigen Banken angeboten und ist teilweise gebührenpflichtig.Die Hypothekarbank Lenzburg hingegen hat entschieden, Instant-Zahlungen kostenlos anzubieten. Kundinnen und Kunden profitieren in mehrerer Hinsicht: Instant-Zahlungen sind rund um die Uhr verfügbar, 7 Tage die Woche und 365 Tage im Jahr. Die zahlende Partei erhält sofort eine Zahlungsbestätigung und die begünstigte Partei verfügt sofort über das Geld. Keine der beiden Parteien geht ein Kreditrisiko ein, da Belastung und Gutschrift gleichzeitig und final erfolgen. Die Sicherheitsstandards von Instant-Zahlungen sind die gleichen wie bei herkömmlichen Geldüberweisungen.In einer zunehmend digitalisierten Welt werde erwartet, dass Zahlungen sofort bei den Empfängerinnen und Empfängern ankommen.]]></description><link>https://fintechnews.eu/instant-payment-ab-sofort-kostenlos-bei-der-hypothekarbank-lenzburg</link><guid>3717</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Instant-Payment ab sofort kostenlos bei der Hypothekarbank Lenzburg</dc:text></item><item><title>Insurtech Sees First IPOs Since 2022 and Booming Deal Activity in Europe</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe insurtech industry has witnessed a significant resurgence in 2024, with funding volume rising 44% in Q2 2024, the first initial public offerings (IPOs) since 2022 and a surge in deal activity across Europe, new data released by market intelligence platform CB Insights show.The “State of Insurtech Q2 2024 Report,” released on August 06, offers an overview of the global insurtech landscape, focusing on equity funding activity in Q2 2024. The report highlights key investment trends, geographic activity, and exit activity during the quarter.In Q2 2024, global insurtech funding outpaced the growth seen across the broader venture and fintech landscapes, rising to a remarkable US$1.3 billion. The figure represents the highest funding level since Q1 2023, marking a five-quarter high.Quarterly equity funding and deals in insurtech worldwide, Source: State of Insurtech Q2 2024, CB Insights, Aug 2024The growth in funding was primarily driven by a 50% increase in equity funding in property and casualty (P&amp;C) insurtech, which rose from US$600 million in Q1 2024 to US$900 million in Q2 2024. Funding to life and health (L&amp;H) insurtech startups also increased quarter-over-quarter (QoQ), rising from US$300 million to US$400 million. However, despite the rise in funding, both verticals recorded a decrease in the number of deals, with deal counts falling by 28% and 26% QoQ, respectively.This indicates that deal sizes grew significantly, a trend further supported by a 25% increase in median insurtech deal size in H1 2024 compared to 2023, rising from US$4 million in 2023 to US$5 million in H1 2024.Annual average and median deal size in insurtech, Source: State of Insurtech Q2 2024, CB Insights, Aug 2024Q2 2024 also saw the sector’s first IPOs since Q3 2024, with two listings. Digit Insurance, an India-based insurance provider, debuted on the National Stock Exchange in May 2024, and Rasan, a Saudi Arabia-based company focusing primarily on auto insurance sales and vehicle services, started trading on the Saudi Exchange in the same month.Merger and acquisition (M&amp;A) activity in the insurtech sector also rebounded, surging 150% QoQ from six in Q1 2024 to 15 in Q2 2024. A notable M&amp;A transaction was the acquisition of Arya.ai, a deep learning and artificial intelligence (AI) startup, by Aurionpro Solutions.Aurionpro Solutions is a technology solutions firm from India that serves the banking, mobility, payments, and government sectors. Aurionpro Solutions acquired a majority stake (67%) in Arya.ai through an all-cash deal, involving the purchase of shares from existing shareholders and the subscription of new equity capital in Arya.ai.Looking at regional trends, the report shows that Europe’s influence in the global insurtech industry is increasing with the region’s share of insurtech deals reaching 35%, a record high.Percent of quarterly insurtech deals by global region, Source: State of Insurtech Q2 2024, CB Insights, Aug 2024Insurtech deal activity in the continent also surged, soaring 67% QoQ to about US$500 million and reaching a seven-quarter high. That rise was driven by two US$93 million deals for Iceye, a Finland-based provider of data from satellite imagery, and Vitesse, a UK-based claims payments processor. Deal counts, meanwhile, stayed steady, increasing slightly from 28 in Q1 2024 to 29 in Q2 2024.Insurtech quarterly funding and deals in Europe, Source: State of Insurtech Q2 2024, CB Insights, Aug 2024Comparatively, the US saw insurtech deal count fall from 61 to 40. However, like Europe, VC funding volume increased in the US, surging from US$500 million in Q1 2024 to US$700 million.Insurtech quarterly funding and deals in the US, Source: State of Insurtech Q2 2024, CB Insights, Aug 2024Insurtech startups based in Asia raised a total of US$51 million in equity funding in Q2 2024, down from US$100 million in Q1 2024, data from CB Insights show. Notable deals secured this year include Qoala, an Indonesian startup that completed its US$47 million Series C funding round in March.Featured image: edited from freepik]]></description><link>https://fintechnews.eu/insurtech-sees-first-ipos-since-2022-and-booming-deal-activity-in-europe</link><guid>3716</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Insurtech Sees First IPOs Since 2022 and Booming Deal Activity in Europe</dc:text></item><item><title>Apple Drives Fintech Growth Ambitions with Strategic Initiatives, AI Integration</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxApple is transitioning from a technology company to a key player in the fintech sector, driven by its diverse financial products, strategic initiatives and use of cutting-edge technologies.A new analysis by C-Innovation, a French fintech-focused research firm, discusses the firm’s growing role in the financial services industry, delving into its range of financial products, recent strategic moves, and potential growth driven by the adoption of artificial intelligence (AI).Apple’s financial services ecosystemThe report, released on July 17, explores how Apple has emerged as a leading force in the financial services industry with products like Apple Pay and Apple Card. These offerings have made a substantial impact, and changed how people pay, save, invest and take on debt, effectively cementing Apple’s position as a fintech leader. They comprise:Apple Wallet, a mobile app launched in 2012 as Passbook that allows users to store digital documents, debit cards, and most of Apple’s financial services, and which integrates with other Apple services and devices;Apple Pay, a mobile payment service introduced in 2014 in the US that allows users to make convenient contactless payments with their Apple devices in physical stores, online, and within apps;Apple Cash, a service that enables users to send and receive money via the Messages app launched in 2017;Apple Card, a credit card introduced in 2019 and developed in partnership with Goldman Sachs and Mastercard that offers cashback rewards on purchases, enhanced security measures, and more;Apple Tap to Pay, a software point-of-sale (softPOS) solution launched in 2022 that allows merchants to accept contactless payments directly through their Apple mobile devices without needing additional hardware;Apple Pay Later, a service launched in 2023 that allows users to split the cost of a purchase into multiple interest-free payments; andApple Savings, a high-yield savings account launched in 2023 that’s integrated with the Apple Card and which allows users to save money and earn competitive interest rates.Apple’s fintech products have gained a notable foothold in the market. For instance, Apple Card has garnered 12 million users, and estimates by Dutch consultancy and mergers and acquisitions advisory firm Flagship Advisory Partners suggest that Apple controlled a remarkable US$800 billion worth of payments in 2022.Recent developments and strategic movesRecent developments, including the proposed termination of the partnership with Goldman Sachs and the shutdown of Apple Pay Later, reflects Apple’s fintech strategy moving forward. This strategy focuses on bringing more financial services in-house to gain more control and flexibility, as well as exploring global opportunities that could guarantee it more profitability and penetration, the C-Innovation report says.In November 2023, reports surfaced that Apple was considering ending its consumer banking partnership with Goldman Sachs, sourced briefed on the matter told the Wall Street Journal. This move followed reports of Apple working on “Project Breakout,” an initiative aimed at internalizing more financial services, including those currently offered with Goldman Sachs, such as Apple Savings and Apple Card.Additionally, Apple has shut down its buy now, pay later (BNPL) business in the US, opting instead to partner with specialist providers. This approach allows Apple to minimize its risks, while collecting fees from these partners.Apple Pay Later was discontinued in the US in June 2024, ahead of the launch of new Apple Pay features set to hit iPhones this fall. These features will allow Apple Pay users to make purchases as well as access installment loans from credit and debit cards withing the mobile app. The service will be available in countries including Australia, Spain, the UK and the US where users will be able to apply for loans through partners including ANZ, CaixaBank, HSBC, Monzo, Citi, and Affirm.Entering the AI eraApple is now stepping into the AI era with its new Apple Intelligence platform and collaborations with generative AI (genAI) providers like ChatGPT. This new direction is poised to place Apple on the verge of more groundbreaking innovations, with the transformative potential of genAI presenting significant opportunities in the fintech sector, the C-Innovation report says.In June, Apple unveiled Apple Intelligence and a partnership with OpenAI to integrate ChatGPT into the iOS operating system, opening to new interesting scenarios. Apple Intelligence is an AI platform that combines generative models with personal context to provide users with highly relevant recommendations and insights.The technology will introduce several new capabilities relating to language tasks and image creation, among other things, and is poised to have widespread impacts across the entire Apple ecosystem, including the firm’s financial services offering, C-Innovation says.Apple Intelligence infographic, Source: C-Innovation, Jul 2024By using the vast amount of user data that Apple has garnered over the years, the firm is poised to revolutionize the banking industry and stay at the forefront of the rapidly evolving fintech landscape, it says. Overall, C-Innovation predicts that Apple Intelligence will usher in a new era for the company where genAI plays a crucial role in personalizing and enhancing user experiences.Featured image: edited from freepik]]></description><link>https://fintechnews.eu/apple-drives-fintech-growth-ambitions-with-strategic-initiatives-ai-integration</link><guid>3715</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Apple Drives Fintech Growth Ambitions with Strategic Initiatives, AI Integration</dc:text></item><item><title>EU’s Underdeveloped VC Sector Threatens Growth and Global Competitiveness: IMF</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe European Union (EU) lags behind the US in the development and strength of its venture capital (VC) industry.This weak VC landscape is not only stifling productivity and economic growth within the EU but also hindering the bloc’s environmental ambitions and global competitiveness, a new working paper by the International Monetary Fund (IMF) says.The paper, titled “Stepping Up Venture Capital to Finance Innovation in Europe” and released in July, examines the current state of the VC industry in the EU, highlighting the main obstacles to its development. It argues that building a robust and advanced VC ecosystem is crucial for fostering innovative startups and enhancing economic growth and productivity, and offers recommendations to support the growth of the VC industry in Europe.A weak VC landscapeOver the past decade, VC investments in the EU have averaged 0.2% of gross domestic product (GDP) per year, significantly lower than the 0.7% average in the US. This difference is also reflected in the fact that US VC funds have raised US$800 billion more than EU funds for investing in innovative startups.Venture capital investments, 2013-2023, Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024The EU’s weak VC industry negatively affects its competitiveness, growth prospects, and green ambitions. Several studies find that innovative, young fast-growing firms that go on to be “superstars” contribute disproportionately to aggregate jobs and growth. Such firms typically invest heavily in research and development (R&amp;D) and information and communications technology (ICT), two key areas where the EU lags significantly behind the US.Intellectual property (IP) and information and communications technology (ICT) investments breakdown, 2000-2020, Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024Europe also trails behind the US in aggregate productivity, with real output per hour worked 26% points lower in the EU than it would be if it had kept pace with US productivity growth since 2000.Real gross domestic product per hour worked, 1995-2023, Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024VC financing is also critical for developing new technologies and scaling up firms in the so-called “clean tech” sectors, which the EU in its Green Deal Industrial Plan has identified as strategically important. However, European VC investments in these sectors currently represent just a fraction of US levels.Venture capital cleantech investments, 2021, Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024EU’s weak VC landscape has also prompted many of the most successful EU startups to move elsewhere for financing, causing the EU to lose out on both the direct growth benefits and positive spillovers from these innovative firms.For example, Miro, an enterprise software publisher from Russia, moved its headquarters to the US in 2019. The startup is valued at US$17.5 billion. Chainalysis is a blockchain analysis firm founded in 2014 in Copenhagen. The company is now headquartered in New York and is valued at US$8.6 billion. And Hugging Face, an artificial intelligence (AI) startup from France, is now headquartered in New York and is valued at US$4.5 billion.Factors hindering VC activityAccording to the IMF paper, several factors are contributing to the financing challenges faced by European startups. For one, the EU’s fragmented economic and financial markets are a major obstacle. The European financial system is predominantly bank-based, and banks are often ill-equipped to finance high-tech startups due to the lack of tangible collateral, the mismatch between bank risk models and the needs of fast-growing but initially unprofitable firms, and regulatory constraints that discourage riskier investments.Financial market structure, Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024Additionally, European households tend to be more risk-averse compared to US households. They prefer to place a larger proportion of their savings in bank deposits rather than in equities, investment funds, or private pension schemes. This risk aversion contributes to a greater reliance on bank loans and unlisted equity for financing in Europe, whereas in the US, listed equity plays a more central role.Household financial assets and liabilities, 2022 (percent of GDP), Source: Stepping Up Venture Capital to Finance Innovation in Europe, International Monetary Fund, Jul 2024Another major hurdle is the fragmentation of Europe’s financial system. Cross-border integration in banking is lower today than before the global financial crisis, and capital markets remain fragmented, with pools of private capital confined to national boundaries. Most occupational pension schemes do not offer pension products across borders because of the differences in national social benefits and labor laws and the attendant costs, complexity, and operational risks. Pension funds and insurers also tend to exhibit strong home-country bias in their asset allocations.Furthermore, regulatory, legal, and tax frictions impede cross-border investment and consolidation. Finally, long and complicated procedures for reclaiming withholding taxes discourage cross-border investment within the EU.These constraints leave the EU with fewer and smaller VC funds than the US, with “exit” options for successful startups through initial public offerings (IPOs) or acquisitions being similarly constrained, the report says.Fostering VC funding activityThe paper outlines several proposals for reforming the EU’s economic and financial policies, emphasizing the need for greater market integration across the bloc, targeted investments and regulatory adjustments.First, it argues that the best solution to the EU’s scale, productivity and growth issues lies in fully integrating its market for goods, services, labor, and capital. Achieving a true single market would make it easier and less costly for the most productive firms to grow, find the necessary talent, reap economies of scale, and access deeper pools of capital, the paper says.It also emphasizes the importance of investing in education, R&amp;D, and ICT to foster innovative startups, citing Estonia as an example where an emphasis on digital skills in education along with public and private investment in digital infrastructure has helped create fertile ground for innovative startups to emerge and grow.The paper further notes that startups require access to skilled employees and the flexibility to adapt as they grow. It recommends that EU policies should evaluate immigration and labor laws to ensure they do not hinder startups’ ability to attract talent or adjust their strategies. The paper also underscores the importance of stock options as a form of compensation for startup employees and calls for harmonized tax treatment of stock options across EU countries. Additionally, the development of portable private pension schemes across the EU would make it easier for firms to attract skilled workers from other EU countries.In the financial sector, the paper identifies VC as a critical area for policy focus and suggests expanding public support for the VC industry. Reforms should consider tax incentives to stimulate VC investments, and national public financial institutions (PFIs) should play a more significant role by complementing private investments, it says. The paper also calls for closer partnerships between national PFIs and EU institutions like the European Investment Bank (EIB) and European Investment Fund (EIF) to strengthen local VC ecosystems and connect them with more developed hubs across the EU.Regarding the regulatory framework, the document notes that while EU rules on VC are generally well-received, some fine-tuning may be necessary. For instance, the eligibility criteria for investors in large VC funds should be aligned with those for smaller funds to avoid unnecessary barriers. Furthermore, regulatory reforms in the insurance sector and for pension funds are needed to remove obstacles preventing them from investing in private equity and VC.Finally, the paper recommends a broad review of EU laws and regulations affecting high-tech sectors to identify unintended consequences that may impede the growth of innovative firms. Recent regulations like the General Data Protection Regulation and the Digital Markets Act, for example, have generally improved competition in the digital sector. However, they may also create inconsistencies and complications for startups, the paper says.Europe has consistently trailed behind the US in VC funding. In Q2 2024, European startups secured a total of US$14 billion in equity funding across 1,522 deals, a far cry from the US$39 billion and 2,419 transactions raised by tech startups in the US, data from CB Insights’ State of Venture Q2 2024 show.Venture funding and deals by global region in Q2 2024, Source: State of Venture Q2 2024, CB Insights, Jul 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/eus-underdeveloped-vc-sector-threatens-growth-and-global-competitiveness-imf</link><guid>3713</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>EU’s Underdeveloped VC Sector Threatens Growth and Global Competitiveness: IMF</dc:text></item><item><title>Choosing a Payment Gateway for E-commerce: 6 Critical Aspects to Consider</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe spread of global e-commerce businesses is one of the defining aspects of the modern world. The data speaks for itself: in 2023, worldwide e-commerce reached an immense 5.8 trillion U.S. dollars (source: Statista) in sales.That’s why choosing a payment gateway that meets specific business requirements and securely handles sensitive customer data is a top priority for any e-commerce business.In collaboration with FYST, a leading-edge fintech powerhouse of customized and secure payment solutions, let’s review 6 key factors to keep in mind while choosing a payment gateway for your online business.What is a payment gateway and how does it work?Before diving into the topic, let’s understand the payment gateway and how it works.Payment gateways function like point-of-sale terminals in physical stores (except it happens online). This system is the cornerstone of electronic transaction processing: payment gateways process visitors’ card details once they enter them at your checkout store and make the transaction happen.Top 6 factors to consider when choosing a payment gateway for your e-commerce businessAccording to a study, the global market revenue of payment gateways reached 31 billion U.S. dollars in 2023, and it’s expected to get to 161 billion dollars by 2032 (source: Market.us Scoop), so the competition between these payment solutions for businesses available in the market is enormous.Therefore, choosing the payment gateway that best suits your business mightn’t be that straightforward. That’s why FYST has prepared the top 6 critical factors you need to consider in your payment gateway.Security measuresAlthough 59% of customers expressed concern about the risk of online payment in 2022 compared to the previous years (source: Statista), most payment gateway solutions adhere to strict compliance with the Payment Card Industry Data Security Standard (PCI-DSS). Besides, make sure you choose the online payment gateway that comes with features like built-in fraud prevention, encryption, tokenization, and more.Transaction feeMost payment gateways charge a fee per transaction, which can increase your business’s cost. Therefore, consider payment solutions for e-commerce businesses with low transaction charges when choosing a payment gateway. Considering your volume of transactions also helps you reduce expenses, as there are online payment gateways that offer pricing based on your transaction volume.Types of payments allowedChoose a payment gateway that supports your target customer base, including debit and credit cards, digital wallets, and other relevant payment methods. If your e-commerce business targets a worldwide customer base, choose a payment gateway that supports multi-currencies and relevant international payment methods.Integration with other systemsConsider how easy the payment gateway integrates with your existing software, website, mobile app, and other platforms. Otherwise, it may cause your online shopping platform to become glitchy, leading your customers to leave your website.Transaction limitsCheck for transaction limits while choosing your solution. Some payment gateways have a transaction limit on the amount it can process per month. If your e-commerce business is small, it may not be an issue. Otherwise, be certain that your selected payment gateway has no such transaction limits.24/7 customer supportEnsure the payment gateway solution provider offers 24/7 customer support through various channels such as chat, mail, phone calls, etc. It’s one of the major concerns when choosing a payment gateway, as customers may panic if technical problems or other issues arise during their payment process.Wrap upWith the myriad of payment gateway options in the market, choosing the best one for your business can be challenging. Because of many advantages and disadvantages to consider, making an informed decision in this domain isn’t always that straightforward.By trusting fintech experts like FYST to handle the selection and integration of proven payment solutions, you can simplify and streamline the process and ensure you pick the best solution for your needs.]]></description><link>https://fintechnews.eu/choosing-a-payment-gateway-for-e-commerce-6-critical-aspects-to-consider</link><guid>3714</guid><author>Administrator</author><dc:content /><dc:text>Choosing a Payment Gateway for E-commerce: 6 Critical Aspects to Consider</dc:text></item><item><title>Coop to Discontinue Finance+ Neobank Project After Less Than 1 Year</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFollowing a short pilot phase, Coop has decided to no longer act as the operator of the Finance+ platform, as the demand did not meet expectations.Furthermore, Coop informed that the environment has changed as a result of increased competition in the financial sector in recent months.As one of several Finance+ partners, Coop will be withdrawing from the project. The exact date has not yet been determined. Glarner Kantonalbank also announced to withdraw from the project.Coop claim to guarantees the continued operation of the Finance+ platform until further notice and will provide all services to their full extent. Follow-on solutions for customers are being assessed.Coop Neobank am Start in der Schweiz – Fintech Schweiz Digital Finance News – FintechNewsCH]]></description><link>https://fintechnews.eu/coop-to-discontinue-finance-neobank-project-after-less-than-1-year</link><guid>3711</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Coop to Discontinue Finance+ Neobank Project After Less Than 1 Year</dc:text></item><item><title>Crypto Wealth Report: Integration of Cryptocurrencies Boosted by Institutional Interest</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxCryptocurrencies are increasingly being integrated into traditional finance, driven by both retail and institutional interest. Financial institutions are embracing tokenization and institutional investors are increasingly entering the cryptocurrency market.Bitcoin, in particular, is emerging as a valuable diversification tool in wealth management, highlighted for its low correlation with traditional asset classes and its strong growth performance, a new report by Bitcoin Suisse, a Swiss crypto services provider, says.The inaugural “Crypto Wealth Management Report”, released in July 2024, looks at the historic performance of bitcoin, showcasing the crypto’s position as a potential powerhouse within diversified portfolios. The report explores the key drivers behind the performance of bitcoin and the potential benefits of incorporating the cryptocurrency into wealth management strategies.Banks embrace cryptoFollowing record highs in 2021 and a subsequent slump, cryptocurrency prices have risen significantly in recent months. This resurgence has prompted various retail banks in Switzerland to develop crypto offerings, adapting to changing market dynamics and customer preferences, the report says.A recent study by the Lucerne University of Applied Sciences and Arts found that 28% of Swiss banks currently offer or plan to offer cryptocurrency investment opportunities. State-backed banks, such as the cantonal banks of Zug, St Gallen and Lucerne, as well as Postfinance, the banking arm of the Swiss Post Office, have recently launched their crypto offerings.The Bitcoin Suisse report also highlights the broader potential of blockchain technology beyond cryptocurrencies, noting that projects involving tokenization have proliferated and witnessed remarkable traction. For example, BlackRock’s introduction of its tokenized treasury fund, the BlackRock USD Institutional Digital Liquidity Fund, achieved a market value of US$500 million just four months after its launch, according to CoinDesk. This surge is part of the broader growth of the tokenized treasury market, which has more than doubled this year, rising from US$780 million in January 2024 to US$1.8 billion in June 2024.In Switzerland, the central bank has also been exploring the concept of a central bank digital currency (CBDC). In collaboration with the Bank for International Settlements the Swiss National Bank (SNB) has been actively involved in Project Helvetia, an initiative which began in 2020 and which aims to integrate wholesale CBDCs (wCBDCs) into existing financial systems.Project Helvetia recently entered a new phase, with the SNB and the SIX Digital Exchange (SDX) expanding their exploration of settling tokenized securities through a wCBDC to other financial institutions and transaction types.Institutional adoption on the riseAdoption of cryptocurrencies has also increased among institutional investors. The world’s first bitcoin exchange-traded funds (ETFs), which debuted in the US in January 2024, have exceeded expectations, attracting US$12 billion in inflows within the first three months and almost US$300 billion in year-to-date trading volume. Globally, net flows into crypto exchange-traded products reached a record US$88.1 billion in assets under management (AUM) in Q1 2024.Initial bitcoin ETF flows, Source: Crypto Wealth Management Report #1, Bitcoin Suisse, Jul 2024Currently, bitcoin ETF flows largely stem from registered investment advisors, asset managers, hedge funds and family offices that have already established access. Bitcoin Suisse predicts that as more institutional consultants, corporations, pension funds, and sovereign wealth funds complete their due diligence, even more substantial capital flows will follow.Bitcoin: a tool for diversificationAcross the crypto market, bitcoin in particular is emerging as a powerful source of diversification. Bitcoin has low correlation with traditional asset classes, offering the lowest average correlation (0.04) to all relevant asset classes over a 12-month period, according to the report.This low correlation makes the cryptocurrency a powerful tool for risk management and a diversification opportunity. By including bitcoin in a portfolio, wealth managers can potentially mitigate overall portfolio volatility while enhancing risk-adjusted returns, the report says.Bitcoin has recorded remarkable growth. Since 2013, the cryptocurrency has dominated every other asset class in annual performance in nine out of twelve years, providing an annualized return of ~109% and an astounding cumulative return of ~470,000%, according to the report.Performance of major asset class, Source: Crypto Wealth Management Report #1, Bitcoin Suisse, Jul 2024Many factors contribute to bitcoin’s remarkable performance. One key differentiator lies in its finite supply, capped at 21 million coins. This scarcity creates a unique economic long-term value proposition where demand is almost guaranteed to outpace supply in the long run, the report says.Another key property of bitcoin is its function as a store of value. Mimicking gold, bitcoin serves as an inflation hedge, carries no credit or counterparty risks, mostly features an inverse relation to the dollar, and can serve as a source of trust, because its network is decentralized, permissionless, and immutable.Finally, bitcoin resonates with the new generation of investors. These investors are typically more technologically savvy and comfortable with digital innovations. They also value autonomy and have a growing distrust of traditional financial institutions, making bitcoin’s decentralized nature particularly appealing.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/crypto-wealth-report-integration-of-cryptocurrencies-boosted-by-institutional-interest</link><guid>3712</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Crypto Wealth Report: Integration of Cryptocurrencies Boosted by Institutional Interest</dc:text></item><item><title>Ant International Expands European Footprint with Payment Partnerships and Sports Sponsorships</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAnt International, the global arm of China’s Ant Group, is expanding its presence in Europe by partnering with fintech companies and financial institutions to grow its merchant network, and sponsoring major sports events to grow brand recognition.In a recent interview with FXC Intelligence, a data platform for cross-border payments, Douglas Feagin, president of Ant International, shared ambitious plans to expand the Alipay+ network in Europe with more digital wallets, banking institutions and merchants. Additionally, Ant International aims to strengthen the European presence of its other brands, including Ant to Merchant (Antom) and WorldFirst, promising enhanced access to the Asian market for prospective partners.Expanding the Alipay+ networkAlipay+ is the company’s cross-border payment ecosystem that connects local digital banking apps and e-wallets to a single payment platform. The platform allows users to make payments in foreign countries using their local e-wallets, meaning that users do not need to switch to a different e-wallet when traveling or shopping internationally.Currently, Alipay+ links 30 digital wallets, including Alipay itself in China, Kakao Pay in South Korea, GCash in the Philippines and TrueMoney in Thailand, serving a total of 1.5 billion end-users. 14 of these 30 digital wallets are integrated with European merchants, allowing seamless cross-border payments for their users.To facilitate these integrations, Alipay+ collaborates with local acquirers, working with the likes of Barclays in the UK, and UniCredit in Italy to enable their merchants to accept payments from Alipay+ users. This integration allows businesses to reach a broader customer base, including international travelers and online shoppers.Most recently, Ant International announced a wide-ranging partnership with French banking group BNP Paribas. Among other things, the collaboration will enable European merchants using the bank’s acquiring service to accept payments for 30 Alipay+ wallets.Ant International has also inked a number of deals with European fintech companies these past couple of months, forging partnerships with the likes of Tinaba from Italy, Nexi from Germany and DNA Payments from the UK.Feagin emphasized the company’s openness to incorporating more European institutions into the Alipay+ ecosystem, explaining that the aim is not only to serve Asian travelers but also to tap into opportunities to support European customers.He envisions considerable growth moving forward, noting that European banks are increasingly introducing innovative fintech and digital services to reach different customer bases. This includes solutions tailored for younger customers or those preferring simpler, stored-value accounts instead of traditional bank accounts.Currently, Alipay+ claims 400,000 European merchants within its network, a far cry from its 80 million merchants in China. These merchants range from luxury goods stores to local businesses and travel services like taxis. Recently, the company partnered with Freenow, a German mobility service, allowing customers of Alipay, AlipayHK and Touch n’ Go to book taxis in seven European countries including France, Germany and Italy.Ant International’s increasing focus on Europe, Source: FXC Intelligence analysis, Jul 2024Enhancing the footprint of Antom and WorldFirst in EuropeAnt International is also working on the expansion of its Antom brand in Europe. While Alipay+ focuses on offline customers, Antom supports online commerce by offering payment and digitalization services in 150 markets and over 100 currencies. It caters to major online marketplaces such as those offered by Alibaba, digital goods marketplaces, including gaming, entertainment, as well as online travel agents.In Europe, Antom aims to increase merchant access to an increasingly lucrative Asian market, while also increasing cross-border payment options for e-wallet users in the continent. Most recently, the company bolstered its presence through the acquisition of MultiSafepay, a Amsterdam-based payment services provider serving over 18,000 small and medium-sized enterprises.Finally, WorldFirst, a UK-founded company acquired by Ant International in 2019, will reinforce its standing in Europe by joining the Single Euro Payments Area (SEPA) scheme. The development, enabled by Ant International’s recent partnership with BNP Paribas, will enable WorldFirst’s clients to access payment schemes under SEPA in real-time and automate treasury payments to optimize their operations.WorldFirst provides business-to-business payment solutions, including a multicurrency account and marketplace cross-border collections. The company has served one million customers worldwide and is connected to over 120 marketplaces.Sports sponsorships to increase brand visibilityAlongside partnership announcements, Ant International also made headlines this year for its three-way sponsorship of the UEFA European Football Championship (Euro) 2024. The sponsorship, which heavily showcased Alipay+, Antom and WorldFirst branding across the tournament, led to increased brand recognition and transaction volumes in Europe.Feagin noted that the partnership was an excellent opportunity for brand exposure, aligning with Ant International’s interests and broadening its audience.Around the tournament, Feagin said Alipay+ saw increased flows in the host country of Germany. In its opening week, Ant International reported a 29% year-over-year increase in visitor spending via Alipay+ partner e-wallets in Europe and a 67% increase in transactions in Germany compared to the previous week.The Euro is the primary association football tournament organized by the Union of European Football Associations (UEFA). It is one of the most prestigious football tournaments in the world, second only to the FIFA World Cup in terms of its significance and popularity within Europe. This year, Euro 2014 set records for TV audiences, achieving an estimated global cumulative audience in excess of 5 billion viewers.Headquartered in Singapore, Ant International aims to support merchants worldwide through a comprehensive range of digital payment and financial services solutions. The company aims to become the “most trusted digital services connector”, thanks to its four key businesses and brands: Alipay+, Antom, WorldFirst and Anext Bank, a digital wholesale bank in Singapore.Ant International’s brand structure, Source: FXC Intelligence analysis, Jul 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/ant-international-expands-european-footprint-with-payment-partnerships-and-sports-sponsorships</link><guid>3710</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Ant International Expands European Footprint with Payment Partnerships and Sports Sponsorships</dc:text></item><item><title>Swiss Fintech Funding Falls 58.5% YoY</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwiss fintech startups are losing favor with investors.In H1 2024, investments in fintech startups in Switzerland fell by 58.5% year-on-year (YoY), plummeting from CHF 191 million in H1 2023 to CHF 79.2 million in H2 2024, according to the new Swiss Venture Capital report.The number of financing rounds also saw a significant drop, declining from 30 in H1 2023 to just 13 in H1 2024, marking a 56.7% decrease.The half-year 2024 update to the Swiss Venture Capital Report, released on July 16, reveals that fintech funding continued to decline in H1 2024, despite notable rounds like Sygnum Bank’s CHF 34.5 million round. That fall was much more pronounced in the fintech sector than the broader Swiss startup landscape. In H1 2024, approximately CHF 1.1 billion was raised across 138 financing rounds in Switzerland, a slight decline of about 10% in both figures compared with 2023.Investment in Swiss startups in first half of year, Source: Swiss Venture Capital Report 2024 | Update, Startupticker.ch, SECA and startup.ch, Jul 2024This year, investors are shifting their focus to sectors like biotech, as well as energy and cleantech. In H1 2024, biotech startups generated CHF 405.3 million, the third highest amount ever, with four of the five largest financing rounds completed by these companies. This is a significant improvement compared to H1 2023, during which biotech startups secured CHF 282.8 million through 14 deals. Energy and cleantech startups, meanwhile, secured CHF 160 million across 27 rounds, up from CHF 137 million and 19 deals in H1 2023.Swiss startup funding in H1 2024 by sector, Source: Swiss Venture Capital Report 2024 | Update, Startupticker.ch, SECA and startup.ch, Jul 2024Large and later-stage deals declineThe continued decline in Swiss startup funding is primarily driven by the lack of large rounds. In H1 2024, the three biggest rounds in the country attracted only CHF 218 million, compared to CHF 331 million in H1 2023. This difference of CHF 113 million nearly matches the overall drop in total invested capital (CHF 121 million), indicating that funding for the majority of rounds outside the top three remained relatively stable in H1 2024, the report says.Another sign of the reduced number of large rounds is the drop in later-stage deals, which fell from 45 in H1 2023 to 26 in H1 2024. The amount of capital invested in later stage startups also continued to decline, though at a much slower rate. This trend suggests that the selection process among startups is becoming more stringent as investors are more reluctant to provide interim financing to startups with less than convincing performance.Similarly, seed stage funding experienced a continued decline in both invested capital and the number of rounds. This indicates that investors are shying away from the high risks associated with seed funding.In contrast, early-stage investments performed surprisingly well in H1 2024, with total investment reaching CHF 344 million, up 60% YoY. The number of financing rounds also increased, rising from 43 in H1 2023 to 56 in H1 2024.Swiss startup funding by phase and amount, Source: Swiss Venture Capital Report 2024 | Update, Startupticker.ch, SECA and startup.ch, Jul 2024Valuations and exitsLooking at valuation and exit trends, the report shows that Swiss startups in the seed and early-stage phases that have secured investors are still achieving historically high valuations. In H1 2024, the average valuation for seed rounds stood at CHF 11 million, significantly higher than the CHF 6.9 million seen in the boom year of 2022. Early-stage financing valuations, meanwhile, averaged CHF 24 million, only slightly below the CHF 27 million valuation in H1 2022.In contrast, later-stage rounds saw much lower valuations, averaging CHF 138 million in H1 2024. That’s a significant decline from the average of around CHF 350 million recorded in both H1 2023 and H1 2022.Average valuation by phase of investment (CHF m), Source: Swiss Venture Capital Report 2024 | Update, Startupticker.ch, SECA and startup.ch, Jul 2024The number of exits also remained low, totaling 20 transactions in H1 2024. According to the report, many of these exits were rescue operations, providing little impetus for a revival of the venture capital (VC) market.Furthermore, strategic investments, which involve an older company acquiring an interest in a startup to collaborate with it, were also few. In H1 2024, just over 5 strategic investments were recorded, indicating that companies are not extensively taking advantage of the lower valuations to acquire innovative young companies.Exits and strategic investments, Source- Source: Swiss Venture Capital Report 2024 | Update, Startupticker.ch, SECA and startup.ch, Jul 2024Optimistic outlookDespite the continued decline, investor sentiment remains optimistic. A survey of about 100 Swiss startup investors conducted by investor association SECA reveals that the vast majority of respondents anticipate an increase in both investment opportunities and the number of investments over the next 12 months.In addition, they expect that opportunities for exiting portfolio startups will improve through the year, with 56% of respondents anticipating a rise of up to 25% in exit opportunities.The survey also highlights that VCs still have significant uninvested capital available for the coming two to four years. On average, 50% of VCs have around 60% of their funds remaining for future investments.Fintech funding activity in Switzerland mirrors global trends. CB Insights’ State of Fintech Q2’24 Report, released on July 16, shows that global fintech funding totaled US$16.4 billion in H1 2024. This marks a 32% YoY decline from US$24.1 billion in H1 2023.Quarterly fintech funding, Source: State of Fintech Q2’24 Report, CB Insights, Jul 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/swiss-fintech-funding-falls-585-yoy</link><guid>3709</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Swiss Fintech Funding Falls 58.5% YoY</dc:text></item><item><title>Swiss Financial Regulator Issues Stablecoin Guidelines, Emphasizing AML Obligations and Default Guarantee Requirements</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Swiss Financial Market Supervisory Authority (FINMA) has published new guidance on the issuance of stablecoins. This guidance emphasizes the financial market laws that apply to projects aiming to issue stablecoins, including anti-money laundering (AML) regulations and minimum requirements for default guarantees.The new FINMA guidance, released on July 26, 2024, addresses the questions frequently arising regarding the issuance of stablecoins in Switzerland. It builds on an initial notes from 2019 that outlines how the regulator treats stablecoins under Swiss supervisory law.The document defines stablecoins as a type of cryptocurrency designed to be a low-volatility means of payment on a blockchain. The primary goal of stablecoins is to provide the benefits of digital assets, such as fast transactions and blockchain transparency, while minimizing the price volatility that is characteristic of traditional cryptocurrencies like bitcoin and ether.To achieve a stable value, issuers typically peg their tokens to a reserve of assets like a fiat currency. Consequently, this gives stablecoin holders a payment claim against the issuer at any time. These claims are generally categorized as either deposits under banking law or as collective investment schemes, and require a banking license.However, in Switzerland, various stablecoin issuers are partnered with banks and use their default guarantees, obviating the need for a banking license. This creates risks for both the stablecoin holders and the banks, FINMA says.Requirements for default guaranteesTo protect depositors, FINMA has established minimum requirements for default guarantees. These requirements are designed to be technology-neutral and also apply when dealing with stablecoins.Firstly, if a stablecoin issuer goes bankrupt, each customer must have their own claim against the Swiss bank issuing the default guarantee, and customers must be informed of the default guarantee. The default guarantee must cover at least the total of all public deposits including any interest earned by customers.Furthermore, the provisions must allow depositors to easily and quickly claim the guarantee without complications.To ensure customers can quickly claim the default guarantee, FINMA also requires that the claim be due at the time of the stablecoin issuer’s insolvency, meaning at the latest when bankruptcy proceedings are initiated, and not only when a certificate of loss is issued.Overall, FINMA warns that while these requirements increase depositor protection, they do not match the protection level provided by a banking license, especially considering that stablecoin holders do not benefit from deposit protection under banking law. For banks, any irregularities at stablecoin issuers can cause reputational and legal risks, the regulator notes.AML regulationsThe guidance also emphasizes that stablecoins can fall under the AML Act. This is due to their usual intended purpose as a means of payments, and because they are classified as deposits under banking law, leading to a permanent business relationship within the meaning of AML legislation.Therefore, stablecoin issuers are considered financial intermediaries for the purposes of AML legislation, imposing thus a number of obligations. Among other things, issuers must verify the identity of the stablecoin holder as the customer in accordance with the applicable obligations and establish the identity of the beneficial owner. If doubt arises in the course of the business relationship as to the identity of the customer or of the beneficial owner, the verification of identity or establishment of identity must be repeated.FINMA highlights the increased risks of money laundering, terrorist financing, and sanction circumvention associated with stablecoins. This is because stablecoins share many of the features of cryptocurrencies, including the possibility for anonymous transfers via self-managed wallets and the global reach, the regulator says.The rise of stablecoinsStablecoins have proliferated in recent years, with several projects launched in Switzerland. In 2020, Sygnum launched its CHF-pegged settlement token, DCHF. The stablecoin, a key component of Sygnum’s digital asset ecosystem, enables real-time transfers, allowing for immediate transaction settlement and eliminating the need for intermediaries, thereby reducing complexity, costs, and counterparty risk.Swiss Stablecoin, a startup founded in 2022 by former National Council and Council of States member Pascale Bruderer, is working on launching its own CHF stablecoin, the digital franc (CHFD). This stablecoin aims to simplify and improve the Swiss payment system, providing a regulated, widely accessible payment method that appeals to retailers, banks, and the Swiss population.Globally, the top five stablecoins are Tether (USDT), USD Coin (USDC), Multi-Collateral Dai (DAI), Binance USD (BUSD) and USDP Dollar (USDP), according to a S&amp;P Global analysis. As of June 2023, these tokens accounted for more than 90% of the US$125 billion market capitalization.USDT and USDC were the two largest stablecoins by market capitalization, at US$83 billion and US$28 billion, respectively. Both are centralized, real-world assets collateralized stablecoins, meaning that each token is backed by US$1 in reserve assets.DAI, which had a market capitalization of US$4.7 billion in June 2023, is a decentralized cryptocurrency pegged to the US dollar produced by the Maker protocol and managed by a decentralized autonomous organization (DAO), MakerDAO.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/swiss-financial-regulator-issues-stablecoin-guidelines-emphasizing-aml-obligations-and-default-guarantee-requirements</link><guid>3708</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Swiss Financial Regulator Issues Stablecoin Guidelines, Emphasizing AML Obligations and Default Guarantee Requirements</dc:text></item><item><title>FINMA Publishes Guidance on Stablecoins</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Swiss Financial Market Supervisory Authority FINMA published guidance on the issuance of stablecoins.In it, it comments on default guarantees, the associated risks and discloses its practice on stablecoins. It further draws attention to the increased risks in the area of money laundering.In recent years, projects seeking to issue stablecoins have also gained in importance in Switzerland. They generally pursue the goal of providing a means of payment with low price volatility on a blockchain. FINMA has already commented on this in its supplement to the ICO guidelines for enquiries regarding the regulatory framework for initial coin offerings (ICOs) from September 2019.In the guidance, FINMA provides information on aspects of financial market law that arise in relation to stablecoin projects and the impact of such projects on the supervised institutions.In connection with stablecoin projects, FINMA draws attention to the increased risks in the areas of money laundering, terrorist financing and the circumvention of sanctions. These also result in reputational risks for the Swiss financial centre as a whole.FINMA notes that various issuers of stablecoins in Switzerland use default guarantees from banks, which means that they often do not require a licence from FINMA under banking law. This creates risks for both the stablecoin holders and the banks providing the guarantee. In addition, FINMA provides information on its minimum requirements for default guarantees in order to protect depositors. These also apply when dealing with stablecoins.]]></description><link>https://fintechnews.eu/finma-publishes-guidance-on-stablecoins</link><guid>3707</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>FINMA Publishes Guidance on Stablecoins</dc:text></item><item><title>Fintechs Worldwide Can Now Apply for InvestHK’s Expanded Global Fast Track 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxInvest Hong Kong (InvestHK) has opened applications for the 7th edition of its fintech programme Global Fast Track (GFT) 2024, accepting submissions until 20 September.The programme invites fintech companies from both local and international markets to pitch their ideas on global platforms, offering mentorship and business matchmaking to help unlock their potential.The global finalists of the GFT’s pitching competition will compete in the grand finale at Hong Kong Fintech Week (HKFW).This year’s programme includes new features aimed at strengthening Hong Kong’s position as the premier international fintech hub.King LeungKing Leung, Global Head of Financial Services, Fintech and Sustainability at InvestHK, said,“The Global Fast Track has evolved into a fintech-friendly platform in the past few years. We have helped over 1,000 fintech companies from more than 50 economies to showcase their cutting-edge innovations and expedite their market entry in Hong Kong and beyond.We are thrilled to build on this success and continue to offer unparalleled access to a global network with more than 100 investor and corporate champions, mentors, and industry leaders through GFT 2024.”Enhanced Networking OpportunitiesThe new features of GFT 2024 include enhanced networking opportunities.These opportunities encompass ongoing one-on-one meetings facilitated by the GFT matchmaking platform.Additionally, the new Founders Champions Night will bring together successful homegrown champions from Hong Kong who have raised funds, been acquired, or expanded internationally, allowing them to network exclusively with GFT finalists.More international champions, including investors and financial institutions from the Gulf Cooperation Council (GCC) region, will participate, fostering connectivity between the GCC region and Hong Kong.The new Investor Network Night will enable companies to connect with key investors, presenting them with growth and funding opportunities.Expanded Vertical Tracks for 2024For 2024, GFT is expanding its featured verticals to include ESG/Green Fintech, Blockchain, and Insurance/HealthTech, alongside the established fintech and artificial intelligence tracks.This expansion reflects the evolving trends in the financial services industry.Semi-finalists from each track will be invited to Hong Kong to pitch their ideas in person during HKFW, with the grand finale scheduled for the second day.This event offers fintech innovators a unique opportunity to present their ideas to thousands of attendees, including key corporations and investors seeking fintech solutions and investment prospects.Past winners have hailed from diverse countries such as Canada, France, Israel, Mainland China, South Korea, Sweden, Switzerland, the United Kingdom, and the United States.InvestHK will collaborate with Finoverse, the appointed co-organiser of GFT 2024, to elevate the programme to new heights.Leung added,“With the introduction of new features this year, we aim to further unlock the true potential of innovation within the fintech industry and provide a springboard for groundbreaking solutions to make a transformative impact.I look forward to welcoming high-caliber applicants from around the world and the remarkable outcomes that will emerge from this programme.”For details of the entire programme of GFT 2024 and the application process, please visit here.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/fintechs-worldwide-can-now-apply-for-investhks-expanded-global-fast-track-2024</link><guid>3706</guid><author>Administrator</author><dc:content >https://fintechnews.sg/wp-content/uploads/2024/07/663c6a323c1a6475af56ddd1_global-scale-up-comp.jpg</dc:content ><dc:text>Fintechs Worldwide Can Now Apply for InvestHK’s Expanded Global Fast Track 2024</dc:text></item><item><title>Strengthening Financial Resilience: Huawei’s Role in the Future of Finance</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe financial sector is on the edge of a major transformation powered by continuous technological advancements. At the recent Huawei HiFS Frontier Forum 2024 in Shenzhen, industry leaders discussed how cloud, network, storage, and computing infrastructures can strengthen financial systems’ resilience.The forum’s theme, “Boost Resilience, Reshaping Smarter Finance Together,” encapsulates the industry’s collective ambition to navigate the challenges of an uncertain future through technological excellence and collaborative innovation.This gathering comes at a pivotal moment. Traditional banking boundaries are dissolving, and the definition of financial services is evolving unprecedentedly.The imperative for digital transformationAs we hurtle towards 2030, the financial landscape is poised for a seismic shift. This evolution places user experience at the forefront, elevating it to a key performance indicator for banks.Financial services will no longer be confined to traditional banking channels in this new paradigm. Instead, they will be seamlessly integrated into every aspect of our daily lives, powered by artificial intelligence, and delivered through myriad digital touchpoints.This shift towards omnipresent, AI-driven financial services necessitates fundamentally rethinking how banks operate and deliver value to their customers.Consequently, the ramifications of service interruptions have escalated dramatically, threatening reputational damage and severe economic losses.In an ecosystem where financial services are expected to be always-on and instantaneous, even momentary disruptions can have far-reaching consequences. Banks must, therefore, prioritise resilience and continuity as never before.Identifying the Achilles’s heel of financial servicesIn recent years, business losses due to service interruptions have surged exponentially. Meticulous statistical analysis has revealed four critical factors behind these failures: security and protection vulnerabilities, data centre interruptions, system and connection failures, and operations and maintenance errors.As financial services become more digitalised, they face increasing susceptibility to sophisticated cyber threats, demanding advanced security measures.Disruptions in data centre operations due to the growing reliance on cloud computing and centralised data processing can have cascading effects on a bank’s entire service ecosystem.The intricate web of interconnected systems powering modern banking services is only as strong as its weakest link, meaning failures in any part of this network can lead to widespread service disruptions.Additionally, human error remains a significant risk factor; as systems become more complex, the potential for misconfigurations or operational mistakes increases.Addressing these factors requires a holistic approach encompassing technology, processes, and people to construct resilient financial infrastructures.The ‘4 Zeros’: A paradigm shift in financial resilienceJason Cao, CEO of Huawei Digital Finance BU, stressed the need for financial institutions to stay competitive by adopting the ‘4 Zeros’ approachHuawei’s vision for the future of finance is crystallised in its ‘4 Zeros’ approach: Zero Downtime, Zero Wait, Zero Touch, and Zero Trust. This comprehensive strategy forms the bedrock of Huawei’s mission to empower financial institutions to reshape their resilience, agility, and intelligence.Zero Downtime ensures continuous service availability, eliminating the concept of ‘offline’ in financial services. This requires robust infrastructure, intelligent predictive maintenance, and seamless failover mechanisms.Zero Wait focuses on optimising user experience through minimal latency. In an era where instant gratification is the norm, banks must ensure that every interaction, from balance checks to complex transactions, happens in real time.Zero Touch emphasises the importance of automation in reducing human error and increasing operational efficiency. By automating routine tasks and decision-making processes, banks can free up human resources for more strategic, value-adding activities.Zero Trust acknowledges the evolving security landscape, where traditional perimeter-based security models are no longer sufficient. It advocates for a security approach that trusts nothing and verifies everything, ensuring robust protection at every level of the financial ecosystem.Jason Cao, CEO of Huawei Digital Finance BU, emphasised that in this rapidly evolving intelligent world, financial institutions must reimagine these core attributes to remain competitive in the digital economy.The ‘4 Zeros’ approach provides a framework for this reimagining, offering a roadmap for banks to evolve from traditional financial institutions into agile, resilient digital enterprises.iBASE: The cornerstone of lifecycle managementTo actualise the ‘4 Zeros’, Huawei advocates a holistic lifecycle management strategy encompassing planning, construction, operation, and ongoing optimization.This approach is underpinned by the iBASE (Insight-Blueprint-Architecture-Step-Evaluation) methodology, a comprehensive framework guiding institutions through the entire process of infrastructure transformation.The Insight phase leverages advanced analytics tools to thoroughly understand an institution’s current IT and network health status. This deep dive into existing systems helps identify pain points and areas for improvement.In the Blueprint stage, a five to 10-year planning roadmap is developed, outlining a clear vision of the target architecture. This may include plans for active-active and hybrid cloud architectures, positioning the institution for future growth and innovation.Architecture focuses on designing optimal target infrastructures aligned with the institution’s strategic goals. This involves technological considerations, business alignment, and regulatory compliance.The Step phase involves implementing solutions and procedures for seamless upgrades, migrations, and reconstructions. This phase translates plans into tangible improvements in the bank’s infrastructure.Finally, the Evaluation stage ensures continuous assessment and improvement. This ongoing evaluation is crucial for maintaining relevance and competitiveness in a rapidly evolving technological landscape.The power of strategic partnerships for financial resilienceKing Tsui, CTO of Huawei Digital Finance BU, leverages Cutting-edge technologies comprehensive risk mitigation for financial resilience, running automation and AI to simplify operation, and underscored the importance of partnering with a robust professional services teamKing Tsui, CTO of Huawei Digital Finance BU, underscored the importance of partnering with a robust professional services team. Many banks lack the technical reserves necessary to navigate this complex transformation independently.Huawei’s global network of technical service centres and certified engineers provides the expertise required in IT modernisation, cloud and data centre modernisation, and smart branch modernisation.This partnership approach recognises that the journey to digital transformation is not one that banks need to—or indeed should—undertake alone. By leveraging the expertise of technology partners, banks can accelerate their transformation, reduce risks, and stay focused on their core business of serving customers.Cutting-edge technologies for resilient financeTo achieve the ‘ Zeros’, Huawei has introduced advanced technologies. Their AI Storage solution for Trusted Active-Active Architecture ensures service continuity from applications to databases while safeguarding against cyber threats achieving a reliability of 99.999 percent.This solution ensures data availability and maintains data integrity and performance, crucial factors in the always-on world of digital finance.The Xinghe Intelligent Network provides a comprehensive networking solution integrating branch networks, multi-cloud environments, security, and open automation data centre links.This solution addresses the need for a secure, reliable, high-utilisation network infrastructure supporting rapid service development and improved management efficiency.These technologies form the backbone of a resilient financial infrastructure, enabling banks to deliver consistent, secure, and high-performance services to their customers, regardless of external challenges or internal complexities.The keystone of operational excellenceAutomated operations and maintenance are crucial in addressing the perennial challenge of managing increasingly complex architectures. As new systems and technologies are constantly added to the IT landscape, the risk of building what Huawei terms a “heavy architecture” is becoming increasingly difficult to manage over time.Huawei’s approach leverages automation and AI to simplify processes, provide key insights, and mitigate risks. Tools such as configuration simulation, network-wide visualisation, and big data analysis of services and user behaviour help to identify potential problems and generate proactive warnings.This proactive approach to operations and maintenance represents a paradigm shift from reactive problem-solving to predictive risk management.By automating routine tasks and leveraging AI for complex decision-making, banks can significantly reduce the risk of human error while improving overall operational efficiency.Comprehensive risk mitigation for financial resilienceHuawei’s suite of solutions goes beyond mere equipment upgrades. The ManageOne cloud management platform, iDRP automated disaster recovery management platform, and network digital map are essential tools for reducing risks and enhancing O&amp;M capabilities.These solutions focus on comprehensive risk reduction and operational enhancement, ensuring that financial institutions can build truly resilient systems capable of withstanding the challenges of tomorrow. They provide a holistic view of the entire IT ecosystem, enabling banks to manage their infrastructure more effectively and respond to potential issues before they escalate into service-affecting problems.Continuous optimisation is not merely a buzzword but a full-stack, one-stop service. Huawei’s formidable team, comprising over 10,000 service experts, over 3,000 digital transformation specialists, and over 760,000 certified engineers worldwide, provides unparalleled support.Their services span the entire spectrum from consulting and planning to optimisation, ensuring financial institutions can build and maintain truly resilient systems.This ongoing support recognises that digital transformation is not a one-time project but a continuous journey of improvement and adaptation.Architecting the future of financeThe path to achieving Zero Downtime, Zero Wait, Zero Touch, and Zero Trust is undoubtedly complex, but it is within reach with the right approach and partnerships. As we advance toward an AI-driven financial future, the institutions that embrace these principles will be best positioned to thrive.By leveraging cutting-edge technologies, comprehensive lifecycle management, and robust professional support, banks can construct resilient infrastructures that withstand today’s challenges and are primed for tomorrow’s opportunities. In this new era of finance, resilience is not just about survival; it’s about reimagining the essence of financial services for a digital age.The financial institutions that successfully navigate this transformation will not just be banks; they will be technology companies delivering financial services. They will be characterised by their ability to innovate rapidly, adapt to changing customer needs, and maintain unwavering reliability in the face of technological and market disruptions.As we stand on the brink of this new financial era, the message is clear: the future belongs to those who can build robust and resilient systems.In the age of cloud and AI, financial resilience is the new competitive advantage, and those who master it will lead the industry into its next golden age.Partner with Huawei to construct resilient infrastructures that withstand today’s challenges and seize tomorrow’s opportunities.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/strengthening-financial-resilience-huaweis-role-in-the-future-of-finance</link><guid>3705</guid><author>Administrator</author><dc:content >https://fintechnews.sg/wp-content/uploads/2024/06/Jason-Cao-1.jpg</dc:content ><dc:text>Strengthening Financial Resilience: Huawei’s Role in the Future of Finance</dc:text></item><item><title>AI Becomes Crucial for Detecting Financial Statement Fraud in the Digital Age</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe proliferation of technology in modern business has created new avenues for financial statement fraud, but it has also provided sophisticated tools to detect and prevent such fraud.Artificial intelligence (AI) approaches, in particular, have the potential to be more efficient and accurate in identifying fraud, especially new schemes that traditional methods might miss, according to a recent article by Karina Kasztelnik, PhD, and Eva K. Jermakowicz, PhD, CPA, from the Tennessee State University in Nashville.The article, published in June, explores the evolving landscape of financial statement fraud detection, emphasizing the role of AI in enhancing the accuracy and efficiency of identifying fraudulent activities compared to traditional methods.Financial statement fraudFinancial statement fraud involves the intentional creation of false or misleading information in financial statements. It’s typically perpetrated by owners or managers to deceive stakeholders, and aims to present a false picture of a company’s financial health, often to boost stock prices, meet financial targets, or secure favorable terms on financing.Although financial statement fraud is among the least frequent types of fraud, its impact can be severe. Several real-world cases showcase this.Wirecard, a German payment processing company, collapsed in June 2020 after it was revealed that EUR 1.9 billion purportedly held in its accounts was missing, leading to its insolvency and the arrest of several executives on charges of fraud and embezzlement. The company had inflated its revenue and profits to deceive investors and lenders.Wells Fargo employees created millions of unauthorized bank accounts and credit cards between 2002 and 2016 to meet aggressive sales targets, without customers’ knowledge or consent. This led to widespread legal and regulatory repercussions, including a US$3 billion settlement in 2020, significant fines, and a major overhaul of the bank’s management and practices.Finally, Enron, once a high-flying energy company, collapsed in December 2001 after it was revealed that it had engaged in widespread accounting fraud to hide its financial losses and inflate its earnings. The scandal led to the bankruptcy of the company, the conviction of several top executives, and the implementation of new regulations to enhance corporate accountability and financial transparency.The challenge of detecting financial statement fraudDetecting financial statement fraud is a multifaceted challenge due to the sophistication and adaptability of fraud schemes, the complexity and volume of financial data, inherent human limitations, and the evolving nature of fraudulent activities.First, financial statement fraud schemes are becoming more and more sophisticated, making detection difficult. Fraudsters often have an in-depth knowledge of their company’s operations and internal controls, enabling them to design complex schemes that are well-concealed within regular financial reporting processes and hard to detect.Secondly, the volume and complexity of financial data further complicate the detection of fraud. Modern businesses generate vast amounts of financial data, and financial statements often include complex transactions, multiple subsidiaries, and various forms of accounting treatments, making it difficult to identify irregularities without advanced tools. This overwhelms traditional analysis methods.Human limitations also play a significant role in the challenge of detecting fraud. Auditors have limited time and resources to conduct detailed examinations of every transaction and financial statement line item. As a result, they may miss subtle signs of fraud, especially when dealing with large datasets or when the fraud involves collusion among multiple parties.Finally, fraud techniques are continually evolving. As detection methods improve, fraudsters develop new techniques to circumvent these measures, creating a constantly evolving challenge.AI-based approaches to financial statement fraud detectionModern AI-based approaches are emerging as powerful technologies for more accurate and efficient fraud detection amid evolving fraud schemes and increasing amounts and complexity of financial data, the report says.AI encompasses a range of techniques, including machine learning (ML), natural language processing (NLP), robotic process automation (RPA), computer vision, and expert systems. These techniques enable machines to analyze large amounts of data, learn from experience, and make decisions based on changing patterns and rules.Machine learning (ML), a subset of AI, involves developing algorithms to recognize patterns in data and make predictions or decisions based on those patterns; NLP, another subfield of AI, deals with the interaction between computers and human languages, focusing on unstructured data; and data mining involves using statistical and ML techniques to extract meaningful information from large sets of data.RPA involves the use of software robots to automate tasks performed by humans and improve efficiencies, while finally, predictive analytics, a subset of data analytics, entails the use of statistical and ML algorithms to examine historical data and make predictions about future events or behaviors.Advantages of AI techniquesAccording to the report, AI and data mining techniques offer significant advantages over traditional methods.AI approaches use ML algorithms to learn from past examples of fraudulent and non-fraudulent financial data. These algorithms can automatically detect patterns and anomalies in the data without relying on predefined rules, and are more effective at detecting new and previously unknown fraud schemes, adapting to changes in the data and fraud landscape over time.In addition, AI can analyze large volumes of data more quickly and accurately than humans can do manually. This allows AI models to detect fraud earlier and more efficiently, reducing an entity’s financial losses.In comparison, traditional rules-based approaches rely on a set of pre-defined rubrics that are programmed to detect specific patterns or anomalies in financial data. These rules are typically based on expert knowledge and experience, and they require human intervention to update or modify the rules as new fraud schemes emerge.AI vs traditional methodologies of financial statement fraud detection, Source: Karina Kasztelnik, PhD, and Eva K. Jermakowicz, PhD, CPA, from the Tennessee State University, via CPA Journal, Jun 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/ai-becomes-crucial-for-detecting-financial-statement-fraud-in-the-digital-age</link><guid>3704</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>AI Becomes Crucial for Detecting Financial Statement Fraud in the Digital Age</dc:text></item><item><title>Eurex Launches Ether Derivatives</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxEurex expands its crypto derivatives portfolio with the launch of FTSE Ethereum Index Futures and Options as of 12 August 2024.Following the launch of FTSE Bitcoin Index Futures and Options in 2023, this is another major milestone in Eurex’s ambition to offer secure access to cryptocurrencies in a regulated market environment.Ethereum is the second largest cryptocurrency with a market capitalization of approximately USD 400 billion. There is significant trading and hedging demand from institutional and professional customers, as reflected in record trading volumes in derivatives and other investment products.The new options and futures are listed in EUR and USD, with the respective FTSE Ethereum Index as the underlying. The contract size is equivalent to 10 Ether (approximately USD 35,000). Both contracts are cash settled and expire on the last Friday of the month. In addition to monthly and quarterly maturities, weekly expiring contracts for options will also be available.The FTSE Ethereum Index was developed by FTSE Russell together with Digital Asset Research (DAR). It captures data from vetted assets and exchanges to meet EU Benchmarks. The final settlement rate of the new Eurex contracts is determined as the volume time-weighted average of the FTSE DAR Digital Asset Price over a 15 minute period prior to the fixing time. Liquidity will be supported by orderbook and over-the-counter liquidity providers.Eurex had already launched futures on the FTSE Bitcoin Index in April 2023. Over 100,000 contracts, equivalent to over USD 3.5 billion notional, have been traded since the launch. Crypto product offering was expanded with options on Bitcoin Index Futures in October 2023, to allow investors to hedge their Bitcoin exposure and express a more sophisticated market view with various trading strategies (e.g., straddles, put/call spreads, etc.).Randolf RothRandolf Roth, Member of the Eurex Executive Board:“We look forward to expanding our offering in crypto derivatives together with FTSE Russell and Digital Asset Research for our clients. As one of the world’s leading CCPs, Eurex offers trading on a regulated exchange and is therefore the right partner to enter the crypto space for institutional clients.”Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/eurex-launches-ether-derivatives</link><guid>3703</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Eurex Launches Ether Derivatives</dc:text></item><item><title>Top Grants and Competitions for Fintech Startups in Switzerland</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSecuring funding without giving up equity is a strategic approach that allows startups to maintain full control over their company while obtaining necessary financial support. In Switzerland, several methods and programs are available for fintech startups seeking financial support that does not require repayment or equity exchange.One method is competitions and awards. Many organizations host competitions that award cash prizes or resources to winning startups, providing financial support and recognition without equity dilution. These competitions can be either online or in person, and the funds won typically do not require repayment or equity exchange, although there can be exceptions.Another approach is obtaining grants, which are non-repayable funds provided by the government, organizations, or foundations to support specific projects or purposes. Grants are often available for research, development, and innovation in various sectors. The primary benefit of a grant is that it usually does not require repayment, allowing startups to use the money for business growth, including marketing and research and development.Today, we look at some of the most renowned startup competitions and prominent grant programs for Swiss fintech startups to consider. For this list, we used data compiled by Swiss Startup Resources and the Basel Area.Startup competitions:Venture KickVenture Kick is a Swiss initiative that annually supports approximately 100 new, high-potential spin-off projects from Swiss universities. The program provides initial funding starting at CHF 10,000, even before the formal incorporation of the company, with potential funding increasing up to CHF 1,150,000 as the project progresses through three stages. At each stage, participants present their startup projects to a Venture Kick jury, with a 50% chance of advancing to the next stage.The first CHF 10,000 is offered as a non-repayable grant, and entrepreneurs make a moral pledge to return the money in case of success. The second CHF 40,000 and final CHF 100,000 kicks are offered as convertible loans with startup-friendly conditions, which convert at the company’s next significant equity round.Winners of the first stage can also apply for an additional CHF 150,000 through the Innobooster grant. Furthermore, he ultimate winner of the final stage gains access to further funding of up to CHF 850,000 via Kickfund.Beyond financial support, Venture Kick offers comprehensive guidance in business development and fundraising. Participants benefit from structured entrepreneurial paths and “kickers camps” held after each stage, which facilitate networking with successful entrepreneurs, industry experts, and investors.&gt;&gt;venture&gt;&gt;The &gt;&gt;venture&gt;&gt; startup competition is a significant initiative supporting early-stage startups in Switzerland, awarding over CHF 500,000 annually and providing access to a valuable network of experts, mentors, and executives from leading Swiss companies.Each year, the competition offers CHF 590,000 in prize money distributed across various categories:First-ranked teams in each of the five business verticals (finance and insurance, health and nutrition, information and communications technology (ICT), industrials and engineering, retail and consumer services) receive CHF 50,000;Second-ranked teams receive CHF 20,000; andThird-ranked teams receive CHF 10,000.For the Social and Environmental Impact vertical, it welcomes impact-driven startups and nonprofit organizations aligned with the United Nations’ sustainable development goals, launched after January 01, 2019.Additionally, a Grand Prize of CHF 100,000 is awarded to the top team selected across all verticals.Beyond financial rewards, the competition also helps startups systematically refine their business plans, develop actionable implementation strategies, and prepare comprehensive documents crucial for engaging with investors and strategic partners.The competition is open to innovative business ideas and newly established companies in Switzerland.Startfeld DiamondStartfeld Diamond, sponsored by St. Galler Kantonalbank in collaboration with Startfeld, is a prestigious award designed to support young companies in Eastern Switzerland with innovative business ideas. The program aims to help startups fully realize their potential by providing financial support and enhancing their visibility within the entrepreneurial ecosystem.The award process consists of two stages. Initially, a preliminary jury selects six finalists from all applications received, with three finalists each from the “Development Phase” and “Idea Phase” categories. In the second stage, the nominated startups receive intensive support to critically evaluate and optimize their business models in collaboration with industry experts. Additionally, they benefit from enhanced communication measures aimed at increasing the visibility of their ideas or products.Two distinct awards are presented:The “Rough Diamond,” valued at CHF 10,000, is awarded to the best idea, particularly focusing on projects from technical colleges and universities; andThe “Diamond,” valued at CHF 30,000, recognizes the startup with the most promising business model, supporting Eastern Swiss startups in maximizing their growth potential.Participation in the Startfeld Diamond competition not only offers financial prizes but also opportunities for startups to refine their strategies, gain exposure, and leverage the expertise of mentors and industry professionals. It serves as a significant platform for emerging entrepreneurs in Eastern Switzerland to showcase their innovation and entrepreneurial spirit.ZKB Pionierpreis TechnoparkThe ZKB Pionierpreis Technopark, jointly awarded by Zürcher Kantonalbank (ZKB) and Technopark Zurich since 2001, is a prominent accolade within Switzerland’s startup ecosystem. This prestigious award celebrates deep-tech projects on the brink of market introduction, emphasizing the founders’ dedication and risk-taking spirit.Annually, the ZKB Pionierpreis Technopark recognizes outstanding innovation with a grand prize of CHF 100,000 for the winners. Additionally, runners-up receive CHF 10,000 each. Beyond financial rewards, the award serves as a significant catalyst for startups, helping them secure further capital and providing a prestigious platform for public exposure.W.A. de Vigier AwardThe W.A. de Vigier Award is the oldest award for young entrepreneurs in Switzerland and, with annual prize money of up to CHF 500,000 (five times CHF 100,000), is one of the most highly endowed startup prizes in Switzerland. Over the past 35 years, the foundation has distributed over CHF 14 million of seed money. The results are over 100 flourishing startups, successful initial public offerings (IPOs), multiple company exits and above all, many newly created jobs.Projects competing for the W.A. de Vigier Award are evaluated based on several criteria:The entrepreneurial qualities and leadership skills of the founders;The degree of innovation demonstrated by the project;The potential societal impact and benefits;The technical and financial feasibility of the project;The market prospects and growth potential; andThe capacity to generate new employment opportunities.Beyond financial support, winning the W.A. de Vigier Award provides startups with valuable recognition and credibility within the entrepreneurial community, serving as an endorsement that can help attract additional funding and support.Grants:InnosuisseInnosuisse offers project funding tailored to startups aiming to enter the market with highly innovative projects. This support is specifically designed for science-based initiatives that have substantial potential for innovation.The funding is targeted at startups based in Switzerland, registered in the Swiss commercial registry, and established within the last five years (with exceptions for cases justified up to ten years). Startups must employ fewer than 50 full-time equivalents (FTEs) at the time of application, or less than 250 FTEs if controlled by another company whose financials consolidate with the startup.The initiative focuses on startups that have not yet commercialized products or services (excluding research and development services) and have a scalable business model poised for more than linear growth. Non-commercial associations, foundations, and units of public administration are ineligible.Innosuisse supports innovation projects that are based on applied research and are aimed at accelerating market entry. These projects should demonstrate significant potential for innovation and readiness for market launch upon project completion. Startups receive funding directly from Innosuisse; research partners are not eligible for direct funding. Innosuisse covers up to 70% of the direct project costs, with the startup required to contribute at least 30% of the costs themselves.Innosuisse, formerly known as the Swiss Innovation Agency (formerly CTI), is an organization in Switzerland dedicated to promoting science-based innovation in the country. It focuses on fostering collaboration between research institutions, businesses, and entrepreneurs to encourage innovation and the commercialization of new technologies.BRIDGEBRIDGE, a joint program of the Swiss National Science Foundation (SNSF) and Innosuisse, offers funding at the interface of basic research and science-based innovation. The program consists of two funding schemes.The Proof of Concept grant supports young researchers who have recently completed a bachelor’s or master’s degree within the last four years, are about to complete their PhD within the next six months, or have obtained a PhD within the last four years. Applicants must be supported by a Swiss research institution and apply individually.This grant funds projects for 12 months, covering salaries and project expenses up to CHF 130,000 per year. It also supports participation in Innosuisse’s Start-up Training and the Assisted Patent Search scheme by the Swiss Federal Institute of Intellectual Property (IPI). Additionally, applicants are encouraged to apply for Innosuisse’s Initial Start-up Coaching.The Discovery grant is aimed at experienced researchers working at Swiss universities, federal institutes of technology, universities of applied sciences and arts, or other research institutions defined by the Federal Act on the Promotion of Research and Innovation (RIPA). Applicants should have the ability to lead and manage research projects and may apply individually or as part of a small consortium (up to three applicants).This grant funds projects for up to four years, with total costs not exceeding CHF 850,000 per applicant. It covers salary costs for project employees and project-related expenses. However, it does not cover applicant salaries unless the applicant is employed by a university of applied sciences and arts or by the Swiss Center for Electronics and Microtechnology (CSEM), in which case they may receive a salary supplement under specific conditions.Grants by the Swiss Federal Institute of Technology LausanneThe Swiss Federal Institute of Technology Lausanne (EPFL) offers funding to help transform ideas into the companies of tomorrow. It provides two funding schemes to help entrepreneurs seeking to accelerate their ideas out of an EPFL labThe Ignition Grant supports early-stage projects, offering CHF 30,000 in the form of a salary and/or of consumables and/or outsourcing needs. The grant is for a maximum of six months to validate technology and develop a prototype or market fit.Applicants must have a startup vision based on a novel technical solution, demonstrated lab technology or market traction, and a strong connection to a  lab where they will incubate their spinoff. The grant is intended for motivated and engaged entrepreneurs with innovative technology and feasible plans.The Innogrant provides CHF 100,000 for up to one year, allowing entrepreneurs to focus entirely on accelerating their startup project. Applicants need a clear startup vision with a scalable technical solution, demonstrated lab technology, market traction, and a solid one-year plan. They must be connected to an EPFL lab for incubation. The grant seeks committed entrepreneurs with impactful, innovative technology and feasible project plans.Grants by the Federal Institute of Technology ZurichThe Federal Institute of Technology (ETH) Zurich offers its students, alumni, and aspiring entrepreneurs throughout their journey, from the initial stages of idea experimentation to the creation of spin-off companies and beyond.The jFund is a practical funding initiative aimed at supporting ETH junior startups in their early stages. Besides financial assistance, it offers startups access to essential resources, expert guidance, and a strong network, laying a solid foundation for growth and success in a competitive market. To qualify for the jFund application, applicants must be either former ETH juniors mainboard members or former employees who have been recognized as outstanding.The funding program consists of three rounds, each offering increased funding opportunities. The Orientation Ticket provides a grant of CHF 10,000 for startups in their early stages of exploration. Applicants must complete a form and meet all outlined requirements. Finally, the Advanced Funding rounds offer grants of CHF 30,000 and CHF 60,000 for startups that have progressed beyond the orientation phase and may already have a prototype or initial market traction.The Pioneer Fellowship Deep-Tech Incubation Program of ETH Zurich supports entrepreneurial ETH students and researchers in transforming their research-based technologies into marketable products and services with the aim of launching successful ETH spin-off companies. Pioneer Fellows receive up to CHF 150,000 for 18 months, or 12 months for a team of two Fellows. They also benefit from coaching, entrepreneurial training, support from their host professor, and access to ETH infrastructure and the entrepreneurial ecosystem.National Research ProgrammesThe National Research Programmes (NRPs) by the Swiss National Science Foundation (SNSF) aim to promote research projects that address societal challenges of national significance. These programs are initiated by the Swiss Federal Council and focus on topics of national importance, with a research budget ranging between CHF 10 and 20 million.NRPs are characterized by their interdisciplinary and transdisciplinary approach, ensuring that individual research projects are aligned with the program’s overarching goals. NRPs are solution-oriented, closely linked to practical applications, and emphasize the importance of knowledge transfer and communication of results. Researchers involved in NRPs engage in continuous dialogue and collaboration with practitioners and commit to disseminating research findings to both specialists and the broader public.Proposals for NRP topics and priorities can be submitted by federal offices, research institutes, research groups, or individuals to the State Secretariat for Education, Research and Innovation (SERI). The final selection of NRPs is made by the Federal Council, which then assigns them to the SNSF for execution.Horizon EuropeHorizon Europe is the European Union (EU)’s key funding program for research and innovation with a budget of EUR 95.5 billion. It tackles climate change, helps to achieve the UN’s Sustainable Development Goals and boosts the EU’s competitiveness and growth. Horizon Europe encourages collaboration and amplifies the impact of research and innovation in shaping, supporting, and executing EU policies while addressing global challenges. It promotes the creation and dissemination of excellent knowledge and technologies.The program aims to create jobs, fully utilize the EU’s talent pool, boost economic growth, enhance industrial competitiveness, and maximize investment impact within a strengthened European Research Area. Legal entities from the EU and associated countries are eligible to participate in Horizon Europe. Additionally, Swiss startups can engage in many collaborative projects within Horizon Europe through Euresearch.Boldbrain Startup ChallengeBoldbrain Startup Challenge is an accelerator addressing early-stage startups and entrepreneurs with innovative ideas who want to start and grow their businesses from the Canton of Ticino. The program offers continuous and personalized support, coaching, workshops, and a final competition with cash prizes totaling CHF 120,000 and over CHF 80,000 in in-kind prizes.Boldbrain Startup Challenge provides coaching to help outline the project, focused workshops, targeted training, and access to a network that supports the development and growth of startups in Ticino. This includes office space, financial aid, and exposure to investors. The Boldbrain Startup Challenge is ideal for those looking to grow their innovative ideas with comprehensive support and resources.Boldbrain welcomes early-stage startups and projects from any sector, provided they are innovative and scalable, with the potential to benefit the Ticino area. Eligible projects must be proposed by teams of at least two people. If the team already has a registered company, it must be less than three years old at the time of application. Teams must be willing to develop their projects in Ticino, have not completed another acceleration program, and participate with at least one team member in all mandatory events and meetings.FONGIT Innovation FundThe FONGIT Innovation Fund (FIF) offers financial support to startups in Switzerland, aiming to accelerate innovation processes within universities, Hautes Ecoles, and other Geneva-based research institutions, as well as within startups, scale-ups, and SMEs experiencing rapid growth in a technological environment. The FIF targets technological innovations that positively impact people and the planet.FIF provides different levels of financial assistance based on the stage of the project. Early-stage projects transitioning from research institutions to new companies can receive a FIF Grant of CHF 50,000. Seed-stage companies needing additional financial support to reach the market can receive a FIF Seed Loan of CHF 100,000. Finally, expanding companies requiring significant investment to sustain rapid growth can receive a FIF Growth Loan of CHF 400,000.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/top-grants-and-competitions-for-fintech-startups-in-switzerland</link><guid>3702</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Top Grants and Competitions for Fintech Startups in Switzerland</dc:text></item><item><title>Auch Yuh bringt kostenlosen ETF Sparplan</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxYuh lanciert 6 ETF-Sparpläne ohne Trading-Gebühren und bietet somit nun ein ähnliches Angebot an wie Neon.Die Auswahl an ETFs für die kostenlosen Sparvarianten ist bei beiden Banken jedoch nach wie vor sehr beschränkt, trotzdem grenzen sich die beiden Neobanken damit klar von der teueren Konkurrenz ab.Sie erlauben das automatisch wiederkehrende Investieren in ETFs ohne Trading- oder Depotgebühren.Lediglich die staatliche Stempelgebühr fällt zusätzlich zu den TER-Kosten der ETFs an.Die gebührenfreien ETF-Sparpläne sind bei Yuh für folgende sechs Fonds verfügbar: iShares SMI ETF (CH)iShares MSCI World CHF Hedged UCITS ETF (Acc)Vanguard FTSE All-World UCITSVanguard FTSE All-World High Dividend Yield UCITSInvesco EQQQ Nasdaq-100 UCITS ETF CHF Hdg AccInvesco CoinShares Global Blockchain UCITS ETF AccMarkus SchwabMarkus Schwab, CEO von Yuh, sagt:«Mit unseren neuen ETF-Sparplänen, die in dieser Form in der Schweiz neu sind, bieten wir eine Anlagemöglichkeit, die Ertragschancen und Sicherheit besonders gut miteinander kombiniert. Durch den Verzicht auf Ordergebühren und den Mindestanlagebetrag von nur CHF 25 wird Investieren noch einfacher und effektiver. Wir sind einen Schritt weiter in unserem Bestreben, Finanzdienstleistungen für alle zugänglich zu machen und sie zu demokratisieren.»]]></description><link>https://fintechnews.eu/auch-yuh-bringt-kostenlosen-etf-sparplan</link><guid>3701</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Auch Yuh bringt kostenlosen ETF Sparplan</dc:text></item><item><title>Nuvei Launches Digital Asset Off-Ramping via Mastercard Cards Across Europe</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxNuvei announced a partnership with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their Digital Assets, including cryptocurrencies, into traditional fiat currency via debit, credit and prepaid cards.This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard’s global network. This off-ramping solution is integrated directly into Nuvei‘s modular payment platform, delivering a simple, secure user experience.The off-ramping process is designed to be rapid and user-friendly. Consumers can seamlessly convert a wide range of supported Digital Assets into fiat currency. They can then transfer the funds to their eligible Mastercard in near real-time, leveraging Mastercard Move’s money movement capabilities. No longer requiring third-party exchanges or money service businesses, this integrated solution simplifies transforming digital value into global spending circulation.Philip Fayer“We’re excited to collaborate with Mastercard to accommodate access liquidity and payments for Digital Asset holders,”commented Philip Fayer, Chair and CEO of Nuvei.“Our mission is to enable businesses and their customers to connect through payments, wherever consumers are and however they want to pay. Offering crypto off-ramps through our single integration aligns perfectly with this mission to facilitate frictionless transactions across the digital economy.”Christian Rau“Enabling choice how consumers can engage in Digital Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space”added Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe.“Combining our global network of partners and digital solutions with Nuvei’s advanced integration opens new opportunities and choice for businesses engaging in digital assets and consumers alike.”Nuvei’s off-ramp solution with Mastercard is the latest example of its strategy to connect the worlds of traditional payments, open banking and blockchain technology into one seamless experience.Featured image credit: Philip Fayer, Chair and CEO of Nuvei and Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe. Edited from freepik]]></description><link>https://fintechnews.eu/nuvei-launches-digital-asset-off-ramping-via-mastercard-cards-across-europe</link><guid>3700</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Nuvei Launches Digital Asset Off-Ramping via Mastercard Cards Across Europe</dc:text></item><item><title>Apple Pay Needs to Open in EU</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe European Commission has made commitments offered by Apple legally binding under EU antitrust rules.The commitments address the Commission’s competition concerns relating to Apple’s refusal to grant rivals access to a standard technology used for contactless payments with iPhones in stores (‘Near-Field-Communication (NFC)’ or ‘tap and go’).The Commission’s competition concernsApple Pay is Apple’s own mobile wallet used to allow iPhone users to pay with their devices in stores and online. Apple’s iPhones run exclusively on Apple’s operating system ‘iOS’. Apple controls every aspect of its ecosystem, including access conditions for mobile wallet developers.The Commission preliminarily found that Apple has significant market power in the market for smart mobile devices and a dominant position on the in-store mobile wallet market on iOS. Apple Pay is the only mobile wallet that may access the NFC hardware and software (‘NFC input’) on iOS to make payments in stores, as Apple does not make it available to third-party mobile wallet developers.In its investigation, the Commission preliminarily concluded that Apple abused its dominant position by refusing to supply the NFC input on iOS to competing mobile wallet developers, while reserving such access only to Apple Pay.The Commission’s preliminary view is that Apple’s refusal excluded Apple Pay’s rivals from the market and led to less innovation and choice for iPhone mobile wallets users.Such behaviour may breach Article 102 of the Treaty on the Functioning of the European Union (‘TFEU’), which prohibits the abuse of a dominant position.The commitmentsTo address the Commission’s competition concerns, Apple initially offered the following commitments:To allow third-party wallet providers access to the NFC input on iOS devices free of charge, without having to use Apple Pay or Apple Wallet. Apple will enable access to NFC in Host Card Emulation mode (‘HCE’). HCE allows to securely store payment credentials and complete transactions using NFC, without relying on an in-device secure element.To apply a fair, objective, transparent and non-discriminatory procedure and eligibility criteria to grant NFC access to third-party mobile wallet app developers.To enable users to easily set an HCE payment app as their default app for payments in stores and to use relevant functionalities such as Field Detect (which opens the user’s default payment app when a locked iPhone is presented to an NFC reader), Double-click (which launches the default payment app when double clicking the phone’s side or home button), and authentication tools such as Touch ID, Face ID, and device passcode.To establish a monitoring mechanism and separate dispute settlement system to allow for independent review of Apple’s decisions restricting access.To apply the abovementioned commitments to all third-party mobile app developers established in the European Economic Area (‘EEA’) and to all iOS users with an Apple ID registered in the EEA, also while traveling temporarily outside the EEA.Between 19 January 2024 and 19 February 2024, the Commission market tested Apple’s commitments and consulted all interested third parties to verify whether they would remove its competition concerns. In light of the outcome of this market test, Apple amended the initial proposal and committed:To extend the possibility to initiate payments with HCE payment apps at other industry-certified terminals, such as merchant phones or devices used as terminal (so called SoftPOS), if this is enabled.To explicitly acknowledge that HCE developers are not prevented from combining the HCE payment function with other NFC functionalities or use cases.To remove the requirement for developers to have a licence as a Payment Service Provider (‘PSP’) or a binding agreement with a PSP to access the NFC input.To allow NFC access for developers to pre-build payment apps for third party mobile wallet providers.To update the HCE architecture to comply with evolving industry standards used by Apple Pay, and to continue to update standards even if they are no longer implemented by Apple Pay, under certain conditions.To enable developers to prompt users to easily set up their default payment app and redirect users to the default NFC settings page, enabling defaulting with only a few clicks.To comply with the same industry standard-specifications as developers of HCE payment apps and to protect confidential information obtained in the context of an audit.To shorten deadlines for resolving disputes. Moreover, Apple offered additional independence and procedural guarantees for the monitoring trustee.The European Commission has made commitments offered by Apple legally binding under EU antitrust rules. The commitments address the Commission’s competition concerns relating to Apple’s refusal to grant rivals access to a standard technology used for contactless payments with iPhones in stores (‘Near-Field-Communication (NFC)’ or ‘tap and go’).The Commission’s competition concernsApple Pay is Apple’s own mobile wallet used to allow iPhone users to pay with their devices in stores and online. Apple’s iPhones run exclusively on Apple’s operating system ‘iOS’. Apple controls every aspect of its ecosystem, including access conditions for mobile wallet developers.The Commission preliminarily found that Apple has significant market power in the market for smart mobile devices and a dominant position on the in-store mobile wallet market on iOS. Apple Pay is the only mobile wallet that may access the NFC hardware and software (‘NFC input’) on iOS to make payments in stores, as Apple does not make it available to third-party mobile wallet developers.In its investigation, the Commission preliminarily concluded that Apple abused its dominant position by refusing to supply the NFC input on iOS to competing mobile wallet developers, while reserving such access only to Apple Pay.The Commission’s preliminary view is that Apple’s refusal excluded Apple Pay’s rivals from the market and led to less innovation and choice for iPhone mobile wallets users.Such behaviour may breach Article 102 of the Treaty on the Functioning of the European Union (‘TFEU’), which prohibits the abuse of a dominant position.The commitmentsTo address the Commission’s competition concerns, Apple initially offered the following commitments:To allow third-party wallet providers access to the NFC input on iOS devices free of charge, without having to use Apple Pay or Apple Wallet. Apple will enable access to NFC in Host Card Emulation mode (‘HCE’). HCE allows to securely store payment credentials and complete transactions using NFC, without relying on an in-device secure element.To apply a fair, objective, transparent and non-discriminatory procedure and eligibility criteria to grant NFC access to third-party mobile wallet app developers.To enable users to easily set an HCE payment app as their default app for payments in stores and to use relevant functionalities such as Field Detect (which opens the user’s default payment app when a locked iPhone is presented to an NFC reader), Double-click (which launches the default payment app when double clicking the phone’s side or home button), and authentication tools such as Touch ID, Face ID, and device passcode.To establish a monitoring mechanism and separate dispute settlement system to allow for independent review of Apple’s decisions restricting access.To apply the abovementioned commitments to all third-party mobile app developers established in the European Economic Area (‘EEA’) and to all iOS users with an Apple ID registered in the EEA, also while traveling temporarily outside the EEA.Between 19 January 2024 and 19 February 2024, the Commission market tested Apple’s commitments and consulted all interested third parties to verify whether they would remove its competition concerns. In light of the outcome of this market test, Apple amended the initial proposal and committed:To extend the possibility to initiate payments with HCE payment apps at other industry-certified terminals, such as merchant phones or devices used as terminal (so called SoftPOS), if this is enabled.To explicitly acknowledge that HCE developers are not prevented from combining the HCE payment function with other NFC functionalities or use cases.To remove the requirement for developers to have a licence as a Payment Service Provider (‘PSP’) or a binding agreement with a PSP to access the NFC input.To allow NFC access for developers to pre-build payment apps for third party mobile wallet providers.To update the HCE architecture to comply with evolving industry standards used by Apple Pay, and to continue to update standards even if they are no longer implemented by Apple Pay, under certain conditions.To enable developers to prompt users to easily set up their default payment app and redirect users to the default NFC settings page, enabling defaulting with only a few clicks.To comply with the same industry standard-specifications as developers of HCE payment apps and to protect confidential information obtained in the context of an audit.To shorten deadlines for resolving disputes. Moreover, Apple offered additional independence and procedural guarantees for the monitoring trustee.The Commission concluded that Apple’s final commitments would address its competition concerns over Apple’s restriction of third-party mobile wallet developers’ access to NFC payments in stores for EEA iOS users. It therefore decided to make them legally binding on Apple.The commitments will remain in force for ten years and apply throughout the EEA. Their implementation will be monitored by a monitoring trustee appointed by Apple who will report to the Commission for the same time period.Apple’s commitments are without prejudice to Apple’s current or future obligations under other regulations, in particular relating to other use cases and functionalities within the scope of the Digital Markets Act (Regulation 2022/1925) and the implementation of the Digital Euro.BackgroundArticle 102 of the TFEU prohibits the abuse of a dominant position that may affect trade within the EU and prevent or restrict competition. The implementation of this provision is defined in Regulation No 1/2003, which can also be applied by the national competition authorities.Following the opening of a formal antitrust investigation into Apple’s behaviour in June 2020, the Commission sent Apple a Statement of Objections in May 2022. In January 2024, the Commission market tested Apple’s first set of commitments. In parallel to today’s Article 9 commitments decision, the Commission also adopted today a second decision closing its investigation into online restrictions and alleged refusals of access to Apple Pay for specific products of rivals that the Commission also opened in June 2020. This second decision also closes all proceedings in relation to the UK, which no longer forms part of the EEA.Article 9 (1) of Regulation 1/2003 enables companies investigated by the Commission to offer commitments in order to meet the Commission’s concerns and empowers the Commission to adopt a decision to make such commitments binding on the companies. Article 27(4) of Regulation 1/2003 requires that before adopting such decision the Commission shall provide interested third parties with an opportunity to comment on the offered commitments.If the market test indicates that the commitments are a satisfactory way of addressing the Commission’s competition concerns, the Commission may adopt a decision making the commitments legally binding on the company concerned. Such a decision would not conclude that there is an infringement of EU antitrust rules but would legally bind the company to comply with the commitments it has offered.If the company concerned does not honour such commitments, the Commission may impose a fine of up to 10% of its total annual turnover, without having to find an infringement of EU antitrust rules, or a periodic penalty payment of 5% per day of its daily turnover for every day of non-compliance.More information, including the full text of today’s Article 9 commitments decision and the full version of the commitments will be available on the Commission’s competition website in the public case register under the case number AT.40452.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/apple-pay-needs-to-open-in-eu</link><guid>3697</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Apple Pay Needs to Open in EU</dc:text></item><item><title>Finastra Finalizes SIC Instant Payments Readiness Project</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFinastra announced the completion of a Swiss Interbank Clearing (SIC) instant payments readiness project.Using Finastra’s cloud-based Service Bureau offering, Swiss banks can seamlessly transition to facilitating instant interbank payments.It is expected that the 50 largest banks must be able to facilitate instant interbank payments in Switzerland and Liechtenstein by August this year. All active participants in the Swiss customer payment transactions system via SIC are expected to be capable of processing incoming customer payments instantaneously by the end of 2026.Finastra’s 24/7 instant payment service, already being used by several banks, includes real-time sanctions screening, with transactions processed in seconds. Finastra will continually evolve the service, allowing banks to respond quickly to changing customer, industry and regulatory demands.Andreas Helbling“Finastra is helping banks implement instant payments in the most seamless and cost-effective way using the latest technologies to deliver robust sanctions screening and fraud prevention,”said Andreas Helbling, Country Head Switzerland, Financial Messaging Marketplaces at Finastra.“Facilitating connectivity to SIC Instant Payments, and any critical payments infrastructure of this kind, reflects our commitment to supporting banks on their broader payment modernization journey – helping them to work in a more agile way and deliver value-added services to customers.”SIC5 is developed by the Swiss National Bank (SNB) and SIX. It is based on the ISO 20022 messaging standard which Switzerland has been using for several years. The standard helps facilitate interoperability and cross-border transactions, also giving Swiss banks the opportunity to implement international payment capabilities in the future.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/finastra-finalizes-sic-instant-payments-readiness-project</link><guid>3698</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Finastra Finalizes SIC Instant Payments Readiness Project</dc:text></item><item><title>Clanq Family Saving App Launches in Switzerland with Corner Bank</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAfter being on the market in Germany for over two years, the Clanq app officially launches in Switzerland. With Cornèr Bank as a strong partner, Clanq offers family accounts and payment cards.Additionally, Clanq supports families with expertise in financial planning and sustainable saving.Focus on parents‘ needs Saving money for the future can be quite challenging for some parents. With Clanq, Cornèr Bank aims to address the needs of families in Switzerland in its role as a banking partner, introducing a product that hasn’t existed before. Combining cashback, saving goals, and support from the entire family clan, saving becomes much easier.More savings with cashback and saving rules«Clanq» is reminiscent of the sound a coin makes when dropped into a piggy bank – and this happens quite often in the app. Every time a family member pays with the Clanq payment card, the child automatically receives cashback. Together with individual saving rules, the financial cushion grows steadily, bit by bit, without parents having to think about it amid their often busy family lives.Family Banking for the whole «Clan»Clanq is a play in the words «Clan» and «Bank». In the Clanq app, each child has their own digital piggy bank. Family members can easily and securely link accounts within the family clan to save together. Family members are invited directly through the app. With the ordered credit card, they can help save for the children with every purchase thanks to cashback, without opening a new account.Clanq supports parents with a modern app, ensuring sustainable financial planning for their children’s future. The fintech is working on expanding the app with the functionalities «Kids and Teenage Banking» – targeting the age group of children and teenagers from 7 to 18. This allows family members to manage their own money.Clanq powered by Cornèr already offers this today:Financial app with direct payment card orderingVarious account types and payment cards for parents and supporting family members, as well as digital piggy banks for childrenCashback on every purchase, additional offers with our cashback partners up to 20 %, and up to 25 % in the cashback online shopAutomatic saving rules to achieve individual goalsChristina HammerChristina Hammer, Clanq Co-Founder:«The financial world is changing rapidly, and for young parents, it is particularly challenging to keep track amidst other demands. Financial education is a crucial building block for a secure and independent future, especially today. The most important aspect is the role model function of the parents, which is why we want to encourage mothers to engage with this topic. »Alessandro SeralvoAlessandro Seralvo, Executive Vice President Cornèr Bank:«As a family business in its third generation, family values have always played a central role in all our activities. We are very pleased to have found an ideal partner in Clanq, who shares our values. Together with Clanq, we provide families with an ideal digital tool that allows relatives and friends to lay a financial foundation for the next generation We are particularly proud to launch this innovative fintech product in our home market Switzerland. »Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/clanq-family-saving-app-launches-in-switzerland-with-corner-bank</link><guid>3699</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Clanq Family Saving App Launches in Switzerland with Corner Bank</dc:text></item><item><title>TX Ventures With First Irish Fintech Investment</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTX Ventures led the USD 5.5m Series A round of Ireland-based Trustap. The investment will fuel the company to continue its global expansion, enabling online marketplace participants to transact in full trust.Trustap provides marketplaces an embedded end-to-end transaction capability by managing payments, logistics and customer support on their behalf. One of the key features is escrow-style payment, which helps buyers and sellers transact in full trust on the platforms.‍The Ireland-based company announced that it has added $5.5 million in funding led by TX Ventures.Coinvestors in the round include new investors SeedX, Partners Resolute, Aperture and existing shareholders MiddleGame Ventures, ACT VC, Atlantic Bridge &amp; FurthrVC.Conor LydenTrustap CEO Conor Lyden explained how this fundraise will help the company moving forward.“We are delighted to have closed this round and it’s great to have added new investors to our cap table who bring with them a wealth of experience in our core markets. Our plan is to invest in our go-to-market to ensure we make the most of some of the recent partnerships we have established. We will also look at adding further features to cater for the wide range of use cases we deal with across both C2C and B2B marketplaces.”‍Krzysztof Bialkowski‍Krzysztof Bialkowski, Managing Partner of TX Ventures comments on the investment:“Our view is that within the near-mid term, marketplaces will have to offer trusted payment solutions otherwise they will miss out on new business. Trustap, by providing escrow-like payment options and by lifting the operational burden off the shoulders of marketplaces, offer just that. The product is immensely scalable which is proven by the global presence of clients and the numerous categories Trustap facilitates among buyers and sellers. The easy-to-implement solution, the underlying trends in the marketplace industry and the execution-driven team will play a pivotal role for Trustap to become the leading infrastructure provider for trusted payments around the globe. It is a special addition to our fintech portfolio.”Featured image credit: Trustap CEO Conor Lyden]]></description><link>https://fintechnews.eu/tx-ventures-with-first-irish-fintech-investment</link><guid>3696</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>TX Ventures With First Irish Fintech Investment</dc:text></item><item><title>Switzerland Ranks 2nd in 2024 European Fintech Index</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSwitzerland has been named the second most attractive location in Europe for fintech stakeholders, surpassing the Netherlands, Estonia, and the UK. The country is recognized for its conducive business environment and the attractiveness of the local market for fintech players, according to the 2024 European Fintech Index.The index, released on June 27 by Lithuanian fintech company ConnectPay, provides an overview of the fintech landscape across Europe. It evaluates key markets in the region and their potential for fintech businesses, government institutions, investors, and other stakeholders, assessing market potential through three dimensions:“Fintech attractiveness”: This includes metrics such as the presence of fintech-related regulation, funding per capita, workforce share, and the number of fintech licenses. These factors determine whether a country can be deemed a favorable market for establishing a fintech business;“Business attractiveness”: This spans several parameters such as startup friendliness, ease of doing business, and taxation competitiveness to define the overall context for conducting business; and“Market attractiveness”: This covers aspects that make a market favorable for fintech to conduct commercial operations and successfully scale. Metrics include population engagement with digital and financial services, economic health, and relevant regulations.Across the 32 European countries studied, Switzerland ranks second, recognized for its favorable business landscape (ranked 3rd) and market potential (ranked 3rd). The country also boasts one of the region’s largest numbers of startup unicorns.Comparison of unicorn hubs, total numbers versus per capital leaders, Source: 2024 European Fintech Index, ConnectPay, Jun 2024Switzerland has made some efforts to create a conducive business environment for fintech companies. In 2023, it launched the Swiss Financial Innovation Desk (FIND), an independent unit within the State Secretariat for International Finance (SIF), aimed at fostering financial innovation by supporting collaboration between the public and private sectors.The government has also introduced regulatory changes to provide greater legal clarity and encourage innovation. These include the Fintech license introduced in 2019, the regulatory sandbox introduced in 2017, and the pioneering “DLT Act”, a legislation covering blockchain technology, digital assets and tokenization that came into force in 2021.Challenges in fintech attractivenessDespite its high rankings in business and market dimensions, Switzerland ranks 8th in Europe for “fintech attractiveness,” behind jurisdictions like Estonia and Luxembourg.Overview of the top 5 countries in the 2024 European Fintech Index, Source: 2024 European Fintech Index, ConnectPay, Jun 2024Previous research has delved into the difficulties fintech companies face in the Swiss market. The 2024 IFZ Fintech Study by the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) highlights that Switzerland is lagging behind fintech hubs such as Singapore and Sweden. These countries have been more proactive in enhancing their support for fintech companies, overshadowing Swiss efforts.Additionally, a 2024 study by UBS, Credit Suisse, and the Swiss ICT Investor Club (SICTIC) indicates that Swiss startups face significant funding challenges and limited international recognition. Moreover, with a population of just nine million, the local market is too small for startups to thrive, compelling young Swiss tech ventures to seek international expansion early in their development.Access to well-educated workers is another key challenge faced by Swiss startups, with 46% of the founders polled by Credit Suisse finding it hard to fill vacancies with suitable candidates. Labor market challenges are more pronounced for startups in the growth and expansion phase, with 55% of struggling to recruit qualified employees, compared to 39% for startups in the pre-seed and seed stages.Sweden recognized as the most attractive country in Europe for fintech stakeholdersThe 2024 European Fintech Index ranks Sweden as the most attractive country in Europe for fintech stakeholders. The country, which ranks within the top five across all three dimensions, is recognized for its high number of information and communications technology (ICT) and fintech professionals, and its fintech-friendly labor market structure.Baltic state Estonia tops the ranking in the business (ranked 2nd) and fintech (1st) dimensions, thanks to its strong unicorn presence per million capita, high number of fintech deals per million capita, and favorable regulatory frameworks.Finally, Denmark ranks 1st in market attractiveness, supported by its strong gross domestic product (GDP) per capital and private consumption growth indicators. The Scandinavian country takes the 3rd place in the overall ranking.Top 10 countries in the 2024 European Fintech Index, Source: 2024 European Fintech Index, ConnectPay, Jun 2024Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/switzerland-ranks-2nd-in-2024-european-fintech-index</link><guid>3695</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Switzerland Ranks 2nd in 2024 European Fintech Index</dc:text></item><item><title>TX Ventures co-leads EUR 2.4m funding round into Trever</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTrever, an institutional operating system provider for digital assets, continues fuelling its growth in the European market with a €2.4 million seed investment.The software provides a compatible infrastructure and enables trading, transfer, and bookkeeping of digital assets.Trever provides financial institutions (banks, brokers, and funds) with a state-of-the-art infrastructure to offer and manage digital assets seamlessly. Clients from the DACH region such as V-Bank, Bankhaus Scheich, or Futurum Bank have been relying on the proven system for many years. The time has come to equip banks across Europe with an efficient go-to-market product.The software provides a compatible single-connection infrastructure and enables trading, transfer, and bookkeeping of digital assets. The modular approach allows financial institutions to start trading with a quick-to-deploy solution and expand it as their business model evolves. This ensures maximum simplicity and flexibility across the entire business process.Hans-Jurgen Griesbacher“Our system, developed by industry experts, is ready to equip banks across Europe and beyond. In addition, with prestigious investors on board, we will be able to enter new European markets much more quickly”,comments Hans-Jürgen Griesbacher, CEO of Trever. The funding round was co-led by TX Ventures (CH) and Market One Capital (LUX). Blockchain Founders Capital (DE) and Dr. Alex von Frankenberg joined the round as co-investors.Krzysztof BialkowskiKrzysztof Bialkowski, Managing Partner at TX Ventures, emphasizes his conviction about the investment:“Institutional traders need a reliable and efficient go-to-market product, and Trever is bringing the solution on a silver platter for them. Further, we see that regulation in Europe is paving the way both on the supply and demand side which drives adoption to a great extent. In sum, the underlying market trends, the banking-grade solution, and Trever’s execution-oriented team are the perfect ingredients to capture this early market.”Featured image credit: Hans-Jürgen Griesbacher, CEO of Trever and Krzysztof Bialkowski, Managing Partner at TX Ventures. Edited from Freepik]]></description><link>https://fintechnews.eu/tx-ventures-co-leads-eur-24m-funding-round-into-trever</link><guid>3694</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>TX Ventures co-leads EUR 2.4m funding round into Trever</dc:text></item><item><title>Global Fintech Revenue Set to Reach US$1.5T by 2030</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxRecent advancements in technologies like generative artificial intelligence (AI), coupled with the large number of people worldwide who remain unbanked or underbanked, present significant opportunities for the global fintech sector.By 2030, the sector is expected to reach a market size of US$1.5 trillion in revenue, a value that’s equivalent to five times the market’s current size, a new report by the Boston Consulting Group and QED Investors says.The report, titled “Global Fintech 2024: Prudence, Profits, and Growth”, provides an overview of the sector’s evolution, drawing insights from industry leaders and investors. It discusses future developments in fintech, mentioning the potential of technologies like genAI, and outlines trends shaping the sector, including embedded finance, open banking and connected commerce.Embedded finance to become pervasive by 2030The first major theme highlighted in the report is the rise of embedded finance where financial services are integrated into non-financial interactions to eliminate friction and enable highly tailored customer experiences.Initially, embedded finance use cases mainly focused on payments, lending, and insurance across both business-to-business (B2B) and business-to-consumer (B2C) contexts, but key players including Stripe and Adyen are expanding these use cases into areas such as pay by bank, cryptocurrency payments and digital assets. These two leading embedded finance firms crossed the trillion-dollar mark in overall payments volume in 2023, showcasing substantial growth in embedded payments.Embedded lending has also seen robust growth, with buy now, pay later (BNPL) leaders Klarna and Affirm processing significant transaction volumes of US$90 billion and US$20 billion, respectively. Similarly, embedded insurance has shown rapid expansion, with premiums reaching roughly US$8 billion in Europe last year.Looking ahead, the global embedded finance market is anticipated to exceed US$320 billion in revenue by 2030, with the small and medium-size business (SMB) segment accounting for about half (US$150 billion) of that sum. This growth will be driven by increased adoption of vertical and horizontal software solutions that address SMB’s needs in payments and lending.The consumer segment is also expected to contribute substantially to the rise of embedded finance, projected to reach US$120 billion in revenue by 2030 as adoption of BNPL, point-of-sale (POS) lending and embedded insurance increases.Finally, the enterprise vertical is anticipated to account for US$50 billion of embedded finance revenue. This growth will be driven by the integration of payment, lending, and trade functionalities into horizontal software solutions, aimed at addressing pain points in accounts payable and receivable.The Embedded Finance Market Will Be Worth More Than US$320 Billion in Revenues by 2030, Source: Global Fintech 2024: Prudence, Profits, and Growth, Boston Consulting Group and QED Investors, Jun 2024Connected commerce poised to take offConnected commerce, which refers to the integration of online and offline shopping experiences into a seamless, unified customer journey, represents a significant opportunity for traditional banks to capitalize on their customer data. The approach enables new revenue streams and enhanced customer loyalty through personalized marketing. Furthermore, it allows incumbents to serve as a platform for SMBs and enterprises.Major banks and some fintech companies are already investing in connected commerce. Examples include initiatives like JPMorgan’s Chase Media Solutions, Capital One Shopping, and Citi Shop. Some fintech companies, including Klarna, are also entering the connected commerce space, while others like Revolut and PayPal are launching advertising businesses.The adoption of connected commerce is expected to increase, emerging as a key application for banking incumbents. As core revenue streams continue to come under pressure, and as deposits risk becoming commoditized in a higher-yield environment, connected commerce offers a promising future model for traditional financial institutions.Open banking to continue to expandOpen banking will continue to expand as more countries implement customer-permissioned access to their financial data, enabled by application programming interfaces (APIs). So far, over 65 countries have instituted open banking, and more are expected to follow suit.However, the report notes that while open banking will drive innovation and increase financial access, it is unlikely to change the basis of competition in banking. In fact, in countries where open banking has had a decade or more to mature, no killer use case has emerged, and impact has been modest.In the UK, open banking has been live for six years, and yet, consumer adoption has plateaued at 12% monthly active users. In the Nordics, a region that’s traditionally in the vanguard of digital adoption, open banking user penetration is well below 50%, standing at roughly 30% in Sweden and 25% in Norway.Moving forward, open banking will remain relevant but won’t revolutionize consumer and SMB financial services and fintech, the report says.GenAI emerges as game-changerFinally, genAI is already proving its worth in the realm of financial services, delivering tangible productivity gains in customer service and support; software coding, testing, and documentation; in the regulatory arena; as well as for targeted, automated digital marketing.Looking ahead, genAI applications and impact will only grow. Across cost of goods sold (COGS), genAI will increase productivity for developer and service operations. In sales and marketing, the technology will increase speed to output for content creation and improve salesforce effectiveness. And in general administrative expenses, it will optimize third-party spending, simplify the tech stack, and automate support functions.GenAI is expected to have a much greater impact on fintech companies than on traditional banks in the near future. This is because fintech companies have “digital first” cost structures which are heavily weighted toward areas where genAI is delivering huge gains, such as coding, customer support, and digital marketing.GenAI Will Be a Game-Changer for Enhanced Productivity, Source: Global Fintech 2024: Prudence, Profits, and Growth, Boston Consulting Group and QED Investors, Jun 2024Fintech revenues grow despite falling fundingGlobal fintech funding dropped significantly in 2023, plunging 71% from an all-time high of US$144 billion in 2021 to US$42 billion. Despite funding challenges, global fintech revenues continued to grow at a robust rate, increasing by 14% annually over the past two years to reach US$320 billion in 2023, according to the report.Global fintech funding and revenues, Source: Global Fintech 2024: Prudence, Profits, and Growth, Boston Consulting Group and QED Investors, Jun 2024In particular, challenger banks were star performers in 2023. Brazil’s Nubank, for example, crossed the 100-million-user milestone in May 2024 and achieved record 2023 financial results with over US$1 billion in net profit and over US$8 billion in revenues. In Europe, Monzo reached operational profitability in the first half of 2023 and received GBP 340 million (US$430 million) in additional funding to fuel its global growth plans. In the US, Chime achieved profitability in Q1 2024 and is now preparing for a possible initial public offering in 2025, Bloomberg reported in March.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/global-fintech-revenue-set-to-reach-us15t-by-2030</link><guid>3693</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Global Fintech Revenue Set to Reach US$1.5T by 2030</dc:text></item><item><title>Moneyland.ch Got Acquired</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxSMG Swiss Marketplace Group AG is acquiring 100% of moneyland.ch AG with immediate effect.moneyland.ch will become part of SMG’s Finance &amp; Insurance business unit alongside FinanceScout24. The moneyland.ch brand, platform and team will not change and will be fully integrated into SMG. Founder Benjamin Manz will also remain active as Managing Director.moneyland.ch will maintain its operations as an independent brand and continue providing greater transparency for consumers in Switzerland with its neutral financial comparisons, calculators and editorial content.Expertise and renowned comparisonsSince it was founded in 2013, moneyland.ch has made a name for itself with its neutral comparisons, calculators, studies and guides.Jochen PerneggerJochen Pernegger, Managing Director Finance &amp; Insurance at SMG, says:«moneyland.ch has raised the bar in the industry both in the past and the present with its high-quality financial comparisons. We look forward to working together to drive forward the Finance &amp; Insurance division – and to benefiting from the Moneyland team’s product range, expertise and years of experience.»moneyland.ch is the perfect additionSMG’s Finance &amp; Insurance division has been represented by the FinanceScout24 brand on the market for almost five years. Now, the acquisition of moneyland.ch provides the perfect addition to this business unit and expands its portfolio. The aim is to help as many consumers in Switzerland as possible to find the right product for their financial and insurance needs, as quickly as they can, and to enable them to take out this product digitally.With the acquisition of moneyland.ch, SMG now offers an important range of comparison services for consumers which the network previously lacked.Benjamin Manz«In addition, moneyland.ch can benefit from the digital expertise, network, reach and awareness associated with SMG’s established platforms,»adds Benjamin Manz. By extension, this means that the comparison platform can be made accessible to as broad an audience as possible.«We are particularly looking forward to working with the FinanceScout24 team.»Featured image credit: Jochen Pernegger, Managing Director Finance &amp; Insurance at SMG and Benjamin Manz, Founder at moneyland.ch]]></description><link>https://fintechnews.eu/moneylandch-got-acquired</link><guid>3691</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Moneyland.ch Got Acquired</dc:text></item><item><title>Findependent Grabs CHF 5 Million in Crowdinvestment Round</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe ETF investment startup findependent has received CHF 5 million as part of its recently announced crowd investment.The original financing target of CHF 2 million was thus oversubscribed several times over. Over 1,500 existing customers ensured that the participation certificates were sold out within just 30 hours.The existing investors around Roland Brack had already provided additional growth financing totalling CHF 1.5 million in recent months. The crowd investment now exceeded all expectations.Matthias Bryner“We knew we had a strong community, but this is beyond all expectations,”says a delighted Matthias Bryner, CEO and founder of findependent.The original financing target of CHF 2 million was raised to CHF 3 million after just a few hours and shortly afterwards to the final CHF 5 million. Now 29% of the company is owned by findependent’s customers.Originally, a three-day phase exclusively for findependent customers was planned, followed by a ten-day public subscription period.“The fact that the entire sum of CHF 5 million is being raised solely by our existing customers shows that our customers are 100% behind our product,”explains Bryner.This means that findependent will not have to concern itself with fundraising in the coming years, but can concentrate fully on the further development of the company and the app.“A privilege that we appreciate and don’t take for granted,”concludes Bryner.Featured image credit: Findependent team]]></description><link>https://fintechnews.eu/findependent-grabs-chf-5-million-in-crowdinvestment-round</link><guid>3690</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Findependent Grabs CHF 5 Million in Crowdinvestment Round</dc:text></item><item><title>Wo die KI das perfekte Investment findet: revolutionäre Crowdhouse-Plattform ist online</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your Inbox«Navigier mich zum Zürichsee» – für die KI kein Problem. «Schreib mir einen persönlichen Brief» – auch das beherrscht der Algorithmus.Doch wie ist es mit Investitionen. «Finde ein Renditeobjekt, das genau zu meinem Bedarf passt» – kann auch das eine KI leisten? In der Immobilienbranche heisst die Antwort ab sofort: Ja! Mit dem Launch des neuen KI-basierten Matchingsystems stösst die Crowdhouse AG das Tor in Richtung Zukunft weit auf. Daraus ergeben sich Vorteile für Branchenkenner ebenso wie für Neulinge, die nach einem Investment suchen.Renditeobjekte mit der KI finden: So funktioniert esWenn Investoren auf der Suche nach Renditeobjekten sind, brauchen Sie vor allem drei Dinge. Gute Angebote, eine rentable Finanzierung und Zeit. Für ihre zahlreichen Angebote ist die Crowdhouse AG mit ihren Gründern Ardian Gjeloshi und Robert Plantak seit Jahren bekannt. Auch das Thema Rentabilität ist ein zentraler Faktor, der traditionell im Vordergrund steht. Allein die sprichwörtliche Investition der Zeit war bisher ein Aspekt, der durch das Konzept der Crowdhouse-Plattform bisher nicht vollständig optimiert wurde. Das hat sich nun entscheidend geändert.Robert PlantakUm die Neuartigkeit zu verstehen, ist es wichtig, das bisherige Prinzip der Immobiliensuche zu kennen. Bis zum Mai 2024 arbeitete die Suchmaske auf Crowdhouse.ch wie bei vergleichbaren Portalen auch. Wer interessiert war, erhielt einen Überblick über das gesamte Portfolio. Das mag im ersten Moment sinnvoll klingen, allerdings ist die Immobilienbranche kein Warenhaus, wie CEO Robert Plantak betont. Stattdessen ist jedes Objekt einzigartig und spricht eine bestimmte Käuferschicht an. In diesem vielfältigen Angebot das perfekte Match zu finden, kostete Zeit.Seit Mai 2024 übernimmt eine KI den aufwendigen Prozess der Immobiliensuche, und zwar in Sekundenschnelle. Auf Grundlage des Profils findet sie interessante Objekte und meldet eine entsprechende Verfügbarkeit. So können sich Investoren nicht nur viel Zeit sparen – sie erhalten auch proaktiv Empfehlungen, wenn relevante Objekte im Portfolio erscheinen.Das Profil als wichtigste GrundlageDamit das KI-Matching bestmöglich funktioniert, weist Robert Plantak auf die Wichtigkeit des Profils hin. Damit die künstliche Intelligenz arbeiten kann, braucht sie Daten – je mehr sie hat, desto präziser werden die Ergebnisse. Zudem gibt er den Tipp, das Profil regelmässig zu updaten, um stets aktuell passende Empfehlungen zu erhalten.Auf sich allein gestellt sind potentielle Investoren aber auch in diesem Punkt nicht. Parallel zur Vertiefung der Profilinformationen lernt die KI den Investor immer besser kennen – maschinelles Lernen macht es möglich. Dadurch werden die Genauigkeit und die Relevanz weiter verbessert.Neues System ist eine technische RevolutionRenditeimmobilien finden mit Hilfe der KI, das ist nichts weniger als eine technische Revolution, mit der die Crowdhouse AG aufwartet. Die Tragweite der Neuerungen wird Besuchern wahrscheinlich erst beim Testen der neuen Funktionen bewusst. Zwar geht die technische Neugestaltung auch mit einem Update der Webseite einher, die zeigt sich jedoch zeitgemäss schlanker als ihr Vorgänger.Der eigentliche Wandel ist im Backend erfolgt, wie CEO Robert Plantak betont, gewissermassen «unter der Haube». Robert Plantak stellt auch heraus, dass es sich bei dem Re-Design nicht um eine einfache optische Aufwertung der Seite handelt. Im Gegenteil: Es wurden Möglichkeiten geschaffen, die in dieser Form nicht gegeben waren. In über neun Jahren, in denen es Crowdhouse gibt, haben wir immer dazugebaut. Jetzt waren wir an einem Punkt, an dem wir die Herkulesaufgabe angenommen haben, alles neu zu gestalten und neu zu denken. Damit haben wir die ganze Produktlogik auf ein neues Niveau gebracht.»Vorteile durch KI-Matching für ImmobilienkäuferWelche Vorteile haben Nutzerinnen und Nutzer vom neuen Crowdhouse-Portal? Das Matchingsystem bringt gleich eine ganze Reihe von Vorzügen mit sich. Elementar ist der Zeitgewinn. Den nennt auch Robert Plantak an erster Stelle:«Eines der wichtigsten Güter im Leben ist die Zeit. Ein gutes Investment zu finden, kann sehr viel Zeit dauern. Die möchten wir unseren Kundinnen und Kunden sparen.»Doch auch darüber hinaus ist die neue Plattform vorteilhaft. Die Automatisierung bedeutet zum Beispiel, dass Interessierte nicht mehr zwangsläufig selbst das Angebot sondieren müssen. Stattdessen behält die KI den Überblick über aktuelle Renditeimmobilien auf Crowdhouse.ch und sendet im Fall eines positiven Treffers eine Nachricht. Damit wird die gesamte Recherche effizienter – und das ist nicht weniger als eine 180-Grad-Wende in der Immobilienbranche.Nicht zuletzt wird das KI-basierte Matching auch noch einmal die Attraktivität einer Renditeanlage in Immobilien erhöhen. Der Nachteil der zu hohen Investitionssummen wurde durch das Miteigentum-Konzept der Crowdhouse AG bereits nivelliert, nun gewinnt das Modell auch noch einmal mehr an Übersichtlichkeit. Das heisst, die neue Plattform wird der alten in gleich mehreren Bereichen überlegen sein.Die KI hilft erfahrenen Investoren und NeulingenMehr Effizienz, mehr Automatisierung, weniger Zeitaufwand – die neue Crowdhouse-Plattform wird erfahrenen Investorinnen und Investoren ganz sicher gefallen. Doch nicht nur alte Hasen spricht das KI-Matchingsystem an.Neulinge profitieren genauso von dem Konzept. Indem sie ihr Profil initial möglichst präzise pflegen, erhalten sie in Rekordgeschwindigkeit Zugang zu Angeboten, die genau zu ihrem Bedarf passen. Das erleichtert den Einstieg in die Welt der Immobilieninvestitionen erheblich. Ausprobieren kann es ab sofort jeder, der möchte. Das KI-Matching ist als integraler Bestandteil der neuen Crowdhouse-Seiten bereits implementiert.]]></description><link>https://fintechnews.eu/wo-die-ki-das-perfekte-investment-findet-revolutionare-crowdhouse-plattform-ist-online</link><guid>3692</guid><author>Administrator</author><dc:content /><dc:text>Wo die KI das perfekte Investment findet: revolutionäre Crowdhouse-Plattform ist online</dc:text></item><item><title>ECB Publishes Progress Report on Digital Euro</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe European Central Bank (ECB) published its first progress report on the digital euro preparation phase, which was launched on 1 November 2023 with the aim of laying the foundations for the potential issuance of a digital euro.The report outlines the progress made on key digital euro design aspects and the envisaged next steps for the project.Digital euro privacyThe design of the digital euro includes an offline functionality that would offer users a cash-like level of privacy for payments in physical shops and between individuals. When paying offline, personal transaction details would only be known to the payer and the payee and would not be shared with payment service providers, the Eurosystem or any providers of supporting services.In recent months, the ECB has agreed on the technical features required to guarantee that online digital euro transactions will provide an even higher privacy standards than current digital payment solutions, while still ensuring robust end-user protection against fraud. The Eurosystem would use state-of-the-art measures, including pseudonymisation, hashing and data encryption, to ensure it would not be able to directly link digital euro transactions to specific users.In line with current practice, payment service providers would only have access to the personal data that are required to ensure compliance with EU law, such as anti-money laundering regulations. To use data for commercial purposes, payment service providers would need users’ explicit consent. As the issuer of and payment infrastructure provider for a digital euro, the ECB will be supervised by independent data protection authorities that will monitor its compliance with the European Union Data Protection Regulation (EUDPR) and the General Data Protection Regulation (GDPR).An offline digital euroThe Eurosystem is developing an offline functionality that would enable digital euro users to pay without an internet connection after pre-funding their digital euro account via the internet or an ATM. Payments would take place directly between the offline devices – e.g. mobile phones or payment cards – belonging to the users involved in the transaction, without having to rely on third parties.The ECB has been investigating the technical tools already available on the market that could allow the settlement of offline digital euro transactions directly in end users’ devices. It has also assessed other essential aspects of offline digital euro payments, with a view to making them seamless, secure and user-friendly.The ECB’s technical work has focused in particular on delivery considerations and how to fund and defund offline digital euro wallets, including how to perform anti-money laundering and forgery checks. For offline payments, users would be able to use their mobile devices, while the Eurosystem is also investigating the potential use of battery-powered smart cards or non-powered smart cards which use a bridge device to communicate.The effective implementation of an offline digital euro on mobile devices will ultimately depend on the requirements laid down for equipment manufacturers and providers of electronic communication services in the digital euro Regulation.Digital euro holding limitsThe design of a digital euro must ensure it can be widely used as a means of payment while still preserving financial stability and the transmission of monetary policy. For this reason, digital euro holdings of individuals would not be remunerated and would be subject to holding limits. Moreover, users would have the option to link their digital euro wallet with a commercial bank account, allowing them to make payments through their digital euro wallet without needing to pre-load it with funds.The ECB has started work on a calibration methodology to define the holding limits, which entails a comprehensive monetary and economic assessment. A newly created workstream, including experts from the national central banks of the Eurosystem and national competent authorities, has begun to identify the factors that could influence the holding limits calibration. In this context, the ECB has launched a dialogue and a data collection exercise to obtain the granular data required to perform the assessment. As this is a collective endeavour, the ECB is holding regular exchanges with co-legislators and market participants (consumers, merchants and financial institutions) to update them on the technical work and gather feedback. The first engagements have already taken place, with more to follow in the coming months given the relevance of this work for all the stakeholders involved in the digital euro project.Findings from this initial assessment will feed into the design of the calibration methodology. The exact holding limits would be based on this methodology and defined closer to the time of issuance, taking the prevailing economic conditions into consideration.Digital euro rulebook and tender processThe digital euro Rulebook Development Group has completed an interim review of the first draft of the rulebook, which sets out the rules and procedures to standardise digital euro payments across the euro area. The group is expected to deliver an updated version of the digital euro rulebook by the end of 2024, including the pending chapters, which focus on user identification and authentication as well as infrastructure-related requirements.In parallel, the ECB issued five calls for applications aimed at establishing framework agreements with suitable external providers for the provision of digital euro components and related services. The Eurosystem will now proceed with the selection process by inviting the highest ranked respondents to tender. This process will help decide the final technical details for designing a digital euro.Supporting the legislative processAs legislative deliberations evolve, the ECB has continued to provide technical expertise to the European institutions involved. In particular, to support ongoing discussions, the ECB has (i) provided technical input with regard to analysing the dynamics in the euro retail payments market; (ii) published an in-depth technical analysis of the feasibility and implications of allowing multiple digital euro accounts per user and (iii) conducted additional technical work on a digital euro app with a view to making it highly inclusive and accessible.“The digital euro preparation phase is progressing well and we support the ongoing democratic debate on the legal framework for the digital euro,” said Executive Board member Piero Cipollone, who chairs the High-Level Task Force on a digital euro. “The digital euro is a common European endeavour. As such, we will continue engaging with all stakeholders, including the European public, to ensure that it is successful and benefits us all.”The Governing Council of the ECB will only decide on the possible issuance of a digital euro once the relevant legislation has been adopted, since this legal framework is essential for the concrete function of the digital euro.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/ecb-publishes-progress-report-on-digital-euro</link><guid>3689</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>ECB Publishes Progress Report on Digital Euro</dc:text></item><item><title>Erstes Direkt Lending Investmentprodukt in der Schweiz</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDas Crowdlending Unternehmen Lend und Helveteq, der Schweizer Emittent für Investmentprodukte, lancieren gemeinsam das erste Direct Lending Zertifikat für Schweizer Immobilienfinanzierungen.Damit wird es für private und institutionelle Investoren möglich, direkt in einen diversifizierten Pool von Schweizer Nachranghypotheken zu investierenDas Zertifikat hat eine für den Schweizer Zinsmarkt ausgesprochen hohe Zielrendite von brutto 5.5-6.5%. Es investiert in Nachranghypotheken, die LEND auf ihrer Plattform zur Finanzierung durch die Crowd aufschaltet. Das Zertifikat investiert nach einer fixen Allokationsregel und stellt so eine Diversifikation hinsichtlich Kreditqualität, Finanzierungsobjekt und Anlagegrösse sicher.LEND betreibt die Plattform für Direktfinanzierungen seit 2016 und bietet seit 2018 Hypothekarfinanzierungen an.Stefan JaecklinStefan Jaecklin, Chairman von Switzerland AG meint dazu:“Über unsere Plattform schliessen wir mit unseren privaten und institutionellen Investoren eine Finanzierungslücke in der Schweiz. Wir schalten dabei bisweilen kostspielige Intermediäre aus und schaffen einen Mehrwert für Investoren und Hypothekarnehmer, was letztlich auch unserer Wirtschaft und der Gesellschaft zugute kommt. Wir bedienen mit unserer Plattform und dem Modell der direkten Finanzierungen bereits rund 3’500 Investoren. Mit dem Zertifikat machen wir nun im Hypothekarbereich den Renditevorteil einer noch grösseren Investorengruppe zugänglich.”Christian KatzChristian Katz, CEO von Helveteq, bemerkt dazu:“Wir freuen uns, mit LEND ein innovatives Anlagezertifikat zu lancieren, welches der breiten Öffentlichkeit die Möglichkeit gibt, von attraktiven Hypothekarmärkten zu profitieren. Mit der Besicherung durch grundpfandbesicherte Hypothekarforderungen haben wir ein interessantes Rendite-Risiko-Profil für die Investorengemeinschaft in der Schweiz schaffen können.“]]></description><link>https://fintechnews.eu/erstes-direkt-lending-investmentprodukt-in-der-schweiz</link><guid>3688</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Erstes Direkt Lending Investmentprodukt in der Schweiz</dc:text></item><item><title>Advertising in Digital Publications Becomes Integral to Modern B2B Marketing Strategies</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAdvertising in digital publications has become integral to modern marketing strategies, connecting brands with consumers in an increasingly digital world.A new post published on StudioID highlights the strategic importance of digital publications in modern marketing strategies, emphasizing their ability to drive demand, generate high-quality leads, and enhance brand recognition and reputation affordably within business-to-business (B2B) content distribution strategies.The post, titled “B2B Content Distribution: Why Advertising in Digital Publications Is an Essential Strategy”, explores the rapid rise of digital publications in the global media landscape, the various advertising formats that are being utilized, and the various benefits of advertising in digital publications.Rise of digital publicationsDigital publications are rapidly gaining popularity. German data platform Statista forecasts that the global market for digital newspapers and magazines will grow to US$40.23 billion in revenue by 2024, with a projected annual growth rate of 2.06% through 2029, reaching US$44.54 billion.Worldwide digital newspapers and magazines revenue, Source: Statista Market Insights, May 2024By 2029, the market is expected to attract 1.6 billion, up from 1.4 billion in 2024, while user penetration is projected to grow from 17.7% in 2024 to 20.4% in 2029.User penetration of digital newspapers and magazines worldwide, Source: Statista Market Insights, May 2024Research indicates that the shift away from physical publications towards digital publications is being driven by several key factors and trends, including the proliferation of the Internet, technological advancements, and changing reader preferences for online content.Recent YouGov research across 48 markets illustrates this transformation. It reveals that globally, 47% of consumers now rely on social networks as a primary source of news, while 38% prefer news apps, and 35% visit newspaper websites. Additionally, 27% of respondents turn to independent news websites, with 17% favoring digital magazine apps and 15% opting for online magazines.Furthermore, 9% of global respondents seek news updates from non-major media blogs, with particularly high usage in the United Arab Emirates (UAE) (13%), Saudi Arabia (12%), and India (11%).Mechanics of advertising in digital publicationsThe growth of digital publications has led to a significant increase in advertising within these platforms. Advertising in digital publications involves a close collaboration between a brand and a publisher to create a campaign specifically targeted to that publication’s readers. The resulting ads are often informative in nature and demonstrates the brand’s expertise to build trust with the audience over time.In the fintech sector, for example, companies like Revolut, PayPal and Robinhood may promote a piece of sponsored content in publications like Business Insider, TechCrunch or Forbes. This allows them to reach a tech-savvy audience and decision-makers interested in financial tools and solutions.This strategy allows brands to enjoy the benefits of paid channel advertising while providing the same informative nature of organic content marketing. It simultaneously provides demand generation of new leads and builds brand recognition and reputation.Besides sponsored content, digital publications may offer other ad formats. These include display ads, such as banner ads, sidebar ads and pop-ups; video ads, which are short clips that play before, during or after video content; interstitial ads, which are full-screen ads that cover the interface of their host app or website; and rich media ads, which are interactive ads featuring video, audio, or other engaging components.Benefits of advertising in digital publicationsAdvertising in digital publications offers significant benefits. First, the StudioID post says that the method provides brands with exposure to potential customers that may be beyond the reach of organic or traditional advertising networks. Some brands find that advertising with very niche publications is most effective, while others find the highest success from a broader approach, but ultimately, the right selection depends on a brand’s specific needs and audience.Another key benefit is the ability to reach readers in the right mindset. When visitors are on a publication’s website, they are typically in a stage of their knowledge journey where they are actively seeking information. With this channel, brands get to provide information when the potential customer is looking to make an investment, significantly increasing the quality of leads and conversion.Furthermore, advertising in digital publications allows companies to extend a campaign’s reach across various stakeholders, allowing them to easily connect with multiple decision-makers within the same organization and facilitating multi-threading opportunities.Finally, readers trust digital publications as credible sources of accurate information. By associating their brand with these trusted sources, companies start off with a higher level of trust from the audience. Brands that work with the publisher on collaboration opportunities, such as co-creating a webinar, can enjoy even greater benefits.Partnership methodsThe StudioID post notes that brands are collaborating with digital publications in various ways. Content amplification is one method where brands promote events, activations, and campaigns to increase visibility. This is often done through pay-per-click ads directly within specific publications.Another strategy involves leveraging newsletter placement. Digital publications often send newsletters with high open and click rates to their subscribers. Sponsored content within these newsletters blends seamlessly with regular updates, boosting its perceived value and trustworthiness among readers interested in the topic.Sponsored articles are also popular. These involve partnerships with publications to create informative articles to be published alongside their regular content. Sponsored articles use paid content distribution to help build brand awareness as well as trust with potential customers, which drives both engagement and revenue.Another method is co-branded content, such as sponsored webinars. These combine the publication’s the publication’s promotional efforts with the sponsor’s industry knowledge. This collaboration generates demand and attracts a highly targeted audience interested in specific topics, resulting in effective engagement and conversion rates.Finally, brands can also choose in-article callouts, which place advertisements for specific content within regular publication articles. These ads blend in with the publication’s style, leveraging its authority to drive clicks and engagement. Positioned strategically within popular articles, they effectively amplify the reach of co-sponsored content, targeting niche audiences with precision.Featured image credit: edited from freepik]]></description><link>https://fintechnews.eu/advertising-in-digital-publications-becomes-integral-to-modern-b2b-marketing-strategies</link><guid>3687</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Advertising in Digital Publications Becomes Integral to Modern B2B Marketing Strategies</dc:text></item><item><title>Schweizer Unternehmen Top in Zahlungs-Moral</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie Zahlungsmoral von Unternehmen bleibt in vielen Ländern trotz der herausfordernden geopolitischen Lage stabil – und verbessert sich im Vergleich zum Vorjahreszeitraum sogar teilweise.Schweizer Unternehmen belegen mit 68,8 Prozent pünktlicher Zahlungen eine führende Position im nordeuropäischen Raum.Deutsche Unternehmen folgen mit 64 Prozent und positionieren sich damit ebenfalls im oberen Segment des europäischen Marktes. Dies geht aus der Payment Studie 2024 von Dun &amp; Bradstreet (D&amp;B) und CRIBIS hervor, die das Zahlungsverhalten von Unternehmen in über 30 Ländern untersucht. Für die Studie wurden Daten bis zum 31. Dezember 2023 berücksichtigt.Europäischer VergleichIm europäischen Vergleich zahlen Unternehmen in Dänemark (94,2 Prozent), Polen (82,7 Prozent) und den Niederlanden (76,1 Prozent) pünktlicher als in der Schweiz. Firmen in südeuropäischen Ländern wie Spanien (46,7 Prozent), Italien (41,1 Prozent) und Portugal (19,2 Prozent) rangieren dagegen hinter der Schweiz.Im Branchenvergleich zeigt sich in der Schweiz ein differenziertes Bild: Unternehmen im Bauwesen (75,2 Prozent) und Finanzwesen (73,5 Prozent) zahlen weiterhin sehr zuverlässig. Grosshandel (63,3 Prozent) und Einzelhandel (62,9 Prozent) zeigen ein durchschnittliches Zahlungsverhalten. Besonders auffällig ist der deutliche Rückgang pünktlicher Zahlungen in den Branchen Spedition und Logistik, Kommunikationsdienstleistungen sowie im Nah- und Fernverkehr.Zahlungs-Moral von Unternehmen in AsienAsiatische Unternehmen weisen im Durchschnitt eine geringere Zahlungsmoral auf. Firmen in China (56,3 Prozent) und Singapur (41,1 Prozent) stechen dabei mit einer positiven Entwicklung hervor.In Nordamerika zahlen Unternehmen in den USA (59,5 Prozent), Mexiko (44,9 Prozent) und Kanada (33,8 Prozent) seltener pünktlich als in der Schweiz. Weltweit zeigt sich ein anhaltender Trend: Kleinere Unternehmen zahlen häufig pünktlicher als grosse Konzerne.Get the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/schweizer-unternehmen-top-in-zahlungs-moral</link><guid>3686</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Schweizer Unternehmen Top in Zahlungs-Moral</dc:text></item><item><title>Zendesk Launches Venture Fund to Invest into AI Startups</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxZendesk officially launched its global venture fund to back AI-first companies focused on enhancing customer and employee experiences.Zendesk Ventures also announced new investments in PolyAI, a developer of advanced conversational voice assistants, and unitQ, an AI-powered product quality platform. The fund empowers emerging companies to unlock their potential by providing capital, CX and AI expertise, and strategic partnership opportunities for growth and innovation.Ben Barclay“Every organization is on a path to becoming AI-driven, and we’re eager to form partnerships with companies leading this new era,”said Ben Barclay, SVP of Strategy, Corporate Development, &amp; Transformation, Zendesk.“Our goal extends beyond building our own products; we’re also supporting an ecosystem of startups whose visions align with ours. Customer and employee service is changing rapidly because of advancements in AI. Investing in these companies does more than drive their growth, it elevates our customers’ ability to provide exceptional interactions.”The Zendesk Ventures portfolio already includes conversational intelligence platform Observe.AI, and field service management software provider, Zuper. The two new portfolio additions announced today are focused on AI-powered CX and operational efficiency:PolyAI, a voice-focused solution, allows Zendesk customers to handle complex interactions such as order tracking and delivery updates as natural as a human conversation. This capability has increased revenue for customers across a variety of industries while also reducing human agent call volumes and time spent on inquiries.unitQ, an AI-powered product quality platform, enables businesses by efficiently collecting and analyzing customer interactions and feedback across a range of 60+ sources in real-time, to pinpoint the root cause of all user fiction and improve Net Promoter Scores (NPS).Beyond capital, Zendesk Ventures offers access to CX and AI experts, strategic partnership opportunities to accelerate growth and innovation, and the chance to be featured on Zendesk Marketplace.Featured image credit: Ben Barclay, SVP of Strategy, Corporate Development, &amp; Transformation, Zendesk, edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/zendesk-launches-venture-fund-to-invest-into-ai-startups</link><guid>3685</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Zendesk Launches Venture Fund to Invest into AI Startups</dc:text></item><item><title>HSG START Accelerator Stiftung investiert in Startups in der Ostschweiz</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDie neu gegründetet Stiftung «HSG START Accelerator» unterstützt mit einem speziellen Förderprogramm nationale und internationale Startups bei der Professionalisierung ihrer Unternehmen.Gründungspartner sind die HSG, START Global und Switzerland Innovation Park Ost (SIP Ost).Am 26. Juni 2024 haben die drei Stiftungsräte die Gründungsurkunde unterzeichnet. Ab sofort ist die im SIP Ost angesiedelte Stiftung für Unternehmer:innen im Einsatz.Der «HSG START Accelerator» soll das führende Accelerator-Programm in Europa werden und starke technologieorientierte Startups auf ihrem Wachstumskurs begleiten. Im Herbst 2024 testen die Organisatoren ein dreimonatiges Intensivprogramm mit einem sogenannten «Pilot-Batch». Der erste reguläre Batch startet im Frühjahr 2025. Das Programm bereitet die nationalen und internationalen Jungunternehmen gezielt auf die Wachstumsphase vor und hilft ihnen, ihre Überlebenschancen und ihre Attraktivität zu erhöhen, insbesondere für Venture-Capital-Investoren.St.Gallen als attraktiver Standort für Jungunternehmer:innenDer Kanton St.Gallen möchte sich als attraktiver Standort für Jungunternehmer:innen etablieren. Deshalb möchte die Regierung des Kantons St.Gallen das Gemeinschaftsprojekt «HSG START Accelerator» der Universität St.Gallen zusammen mit dem Switzerland Innovation Park Ost (SIP Ost) und START Global mit 5.4 Millionen Franken unterstützen.Gleichzeitig sollen 4.6 Millionen Franken für die finanzielle Stärkung der bestehenden Stiftung «Startfeld» zur Verfügung gestellt werden. Der Kantonsrat hat das Geschäft in der Sommersession in erster Lesung beraten. Die zweite Lesung ist für die Herbstsession 2024 vorgesehen.Entstanden ist das Gemeinschaftsprojekt aus dem Auftrag der Standortförderung des Kantons St.Gallen, eine Startup-Strategie für den Kanton zu entwickeln. Das Accelerator-Programm wird die regionale Gründerszene nachhaltig stärken und eine Angebot- und Finanzierungslücke schliessen. Ein solches Angebot fehlt bisher in St.Gallen. Während des Gründer:innengipfels «START Summit» Ende März 2024 wurde bekannt gegeben, dass die Stiftung im Juni 2024 gegründet wird.Drei Stiftungsräte mit Startup-ErfahrungDer Stiftungsrat des Accelerator-Programms setzt sich zusammen aus drei in der Startup-Szene St.Gallen aktiven und engagierten Mitgliedern:Prof. Dr. Dietmar Grichnik (Präsidium):Dietmar GrichnikProf. Dr. Dietmar Grichnik ist Prorektor für Innovation und Qualität, Ordinarius für Entrepreneurship und Direktor des Instituts für Technologiemanagement (ITEM-HSG) an der Universität St.Gallen. Als Gründer und Direktor des Center for Entrepreneurship (Startup@HSG) und des Global Center for Entrepreneurship and Innovation setzt er sich ein für die Förderung von HSG Spin-Offs und des Schweizer Startup-Ökosystems. Als Coach und Investor engagiert sich Dietmar Grichnik in schnell wachsenden Unternehmen wie First Stop Health, einem in den «Inc. 500»-notierten Telemedizinunternehmen, und CareerOS, einem EduTech-Startup aus den USA. Zudem ist er Mitglied im Stiftungsrat der Foundation Switzerland Innovation und des Verwaltungsrats des Switzerland Innovation Park Ost (SIP Ost). Dietmar Grichnik zählt zu den TOP-100 der führenden Entrepreneurship-Professoren weltweit.Dr. Cornelia Gut-Villa (Vize-Präsidium):Cornelia Gut-VillaCornelia Gut-Villa machte ihren Abschluss an der Universität Zürich und verfügt über 20 Jahre Erfahrung im Bankwesen, in der Strategieberatung und im Startup-Coaching. Sie ist u.a. Geschäftsführerin der Startfeld-Stiftung, die Jungunternehmer in der Seed-Phase finanziert, und verantwortlich für die Investor Relations des Switzerland Innovation Park Ost (SIP OST). Zudem ist Cornelia Gut-Villa im Vorstand des Swiss ICT Investor Club (SICTIC) aktiv, der ersten Anlaufstelle für Technologie-Startups mit Sitz in der Schweiz, die auf der Suche nach einer Finanzierung durch «smart money» sind. Sie ist Verwaltungsratsmitglied in verschiedenen Unternehmen (u.a. Egonym AG und Signifikant AG) sowie Mitglied des Verwaltungsrats von Swiss VR. Die SECA (Swiss Private Equity &amp; Corporate Finance Association) hat Cornelia Gut-Villa 2021 zum 18. «Business Angel des Jahres» gewählt. An der HSG ist sie im wissenschaftlichen Beirat tätig.Andreas Göldi (Mitglied des Stiftungsrats):Andreas GöldiAndreas Göldi ist seit 2019 Partner bei der Venture-Capital-Firma b2venture und begeisterter Technologe, Serienunternehmer und Investor mit über 25 Jahren Erfahrung. In den 1990er Jahren gründete er noch während seines Studiums an der Universität St.Gallen sein erstes Startup Namics, ein digitales Beratungsunternehmen, das ein paar Jahre später übernommen wurde. Das Unternehmen baute in den Anfängen des Internets mehrere bahnbrechende Webseiten im deutschsprachigen Raum auf. Nach 2004 gründete Andreas Göldi mehrere weitere Unternehmen in den Bereichen Online-Medien, Social Media Analytics und Video-Marketing. Zwölf Jahre verbrachte der gebürtige St.Galler in der Region Boston, zunächst als Sloan Fellow am Massachusetts Institute of Technology (MIT) und ab 2007 als Unternehmer. Seine beiden in den USA ansässigen Startups waren frühe Anwender von maschinellem Lernen und Cloud-Infrastruktur.Mitglieder des Projektteams (v.l.n.r.): Jürg Stuker, Max Bieri, Prof. Dr. Dietmar Grichnik, Dr. Cornelia Gut-Villa, Niklas Rückwald, Dr. des. Bernd F. SchneiderGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/hsg-start-accelerator-stiftung-investiert-in-startups-in-der-ostschweiz</link><guid>3684</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>HSG START Accelerator Stiftung investiert in Startups in der Ostschweiz</dc:text></item><item><title>&gt;&gt;venture&gt;&gt; Celebrates Sustainable Innovation: CLIMADA Technologies Clinches Finance &amp; Insurance Top Prize</title><description><![CDATA[Switzerland’s premier startup competition, &gt;&gt;venture&gt;&gt;, has just concluded its highly anticipated 2024 Award Ceremony, crowning the most promising early-stage startups in the country. Among the winners was CLIMADA Technologies AG, which took first place in the Finance &amp; Insurance vertical.Since launching in 1997, the &gt;&gt;venture&gt;&gt; startup competition has been a cornerstone event in Switzerland’s innovation landscape, supporting and celebrating startups for over 25 years.Past winners and participants have gone on to found over 1,500 companies and created more than 15,000 jobs in Switzerland, a testament to the competition’s enduring impact on the regional entrepreneurial ecosystem.The 2024 edition of the competition offered over CHF 500,000 in cash prizes, along with access to a deep network of mentors and investors. The competition is renowned not only for recognising outstanding startups but also for providing them with the essential support needed to thrive.Winners are also awarded non-dilutive cash prizes, which provide crucial funding without requiring founders to give up equity. The top three finishers in each vertical receive CHF 50,000, CHF 20,000, and CHF 10,000, respectively, to kickstart their entrepreneurial journeys.CLIMADA Technologies: A Leader in Climate Risk AnalyticsFounded by Sebastian Glink, Simone Thompson, and their climate science advisor, Prof. Dr. David N. Bresch, &gt;&gt;venture&gt;&gt; 2024 Finance &amp; Insurance First Place Winner CLIMADA Technologies AG is a data-driven fintech with a focus on sustainability.“CLIMADA Technologies specialises in comprehensive climate risk analytics, leveraging advanced data models and AI to provide precise and actionable insights,”explained Sebastian.Their platform offers forward-looking analysis for clients’ exposed locations, covering acute and chronic hazards.CLIMADA Technologies’ event-based simulation platform is designed for the socio-economic impact assessment of weather and climate events. Using mathematical models, the platform compiles risk assessments, enabling companies, authorities, and other decision-makers to better prepare for rising weather and climate risks.Simone elaborated,Simone Thompson“What sets us apart is our integration of cutting-edge technology with a deep understanding of climate science, enabling us to offer customised solutions that cater to diverse industries.Our commitment to open-source principles and collaboration with scientific communities further distinguishes us from competitors.”With 20 years of experience in international blue-chip organisations spanning finance, marketing, project management, branding, sales, and communications, Simone’s expertise complements Sebastian’s extensive background in building scalable technology solutions in insurance, reinsurance, and retail industries.Unique Approach to Climate RiskThe company aims to contribute to a more resilient and sustainable global economy by empowering organisations with the tools they need to manage climate risks effectively.Sebastian Glink“We aspire to be a leading provider of physical climate risk analytics in the Swiss and global financial ecosystems.Our goal is to integrate our solutions into mainstream financial, insurance, and industry practices, driving the adoption of climate-resilient strategies and sustainable investment decisions,”said Sebastian.Their simulation models calculate risk assessments for various events like cyclones, heatwaves, droughts, floods, and forest fires, both historically and probabilistically. This predictive technology, including AI, enables them to forecast impacts of weather extremes that have not yet occurred, but are physically plausible.A Journey Towards ImpactParticipation in the &gt;&gt;venture&gt;&gt; competition was driven by CLIMADA Technologies’ commitment to expanding its impact.“The competition provides a unique platform to showcase our innovative solutions in climate risk assessment and resilience building,”said Sebastian.The recognition from &gt;&gt;venture&gt;&gt; is expected to enhance the company’s credibility and visibility, attracting top-tier clients and partners.“The recognition will open doors to new markets and opportunities for collaboration, further establishing our position as a leader in climate risk analytics,”stated Simone.Strategic Growth and PartnershipsLooking ahead, CLIMADA Technologies plans to scale its technology, expand market reach, and become a thought leader in climate adaptation over the next three to five years. The mentorship and networking opportunities offered by &gt;&gt;venture&gt;&gt; are particularly valuable.“Access to experienced mentors in the finance and insurance sectors will provide us with strategic guidance and industry insights,”noted Simone.Winning startups receive exclusive access to mentorship and coaching from industry experts, which is invaluable in navigating the challenges of early-stage growth.In the Finance &amp; Insurance vertical, mentors included Magdalena Tarasinska, Board Member at the Swiss ICT Investor Club (SICTIC); Ulrich Hoffmann, Board Member at UBS Business Solutions; Philipp Steinberger, the owner of Steinberger Consulting; and Massimo Soriano, Client Advisor at Rothschild &amp; Co.CLIMADA Technologies AG Founder &amp; Co-CEO Sebastian Glink (left) with Head of Business Development Alvaro PachecoSebastian added,“Insights from leaders like Ulrich Hoffmann and Frédéric Lauchenauer will be invaluable in refining our products and strategies to meet the evolving needs of the market.”In addition, CLIMADA Technologies plans to use the CHF 50,000 cash prize to invest in research and development, hire top talent, strengthen marketing efforts, and establish strategic partnerships to enhance service delivery and expand into new geographic markets.Commitment to Climate ResilienceThe company is committed to addressing climate risks as both a business opportunity and a responsibility, aiming to deliver solutions that support businesses in mitigating risks and contributing to global climate change efforts.Their innovative approach allows for precise impact assessments, positioning them at the forefront of climate risk management and earning them the top spot in the &gt;&gt;venture&gt;&gt; competition’s Finance &amp; Insurance category for 2024.This recognition is seen as an acknowledgement towards realising CLIMADA Technologies’ vision of a more resilient and sustainable future.Featured image credit: Edited from Freepik]]></description><link>https://fintechnews.eu/venture-celebrates-sustainable-innovation-climada-technologies-clinches-finance-insurance-top-prize</link><guid>3683</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>&gt;&gt;venture&gt;&gt; Celebrates Sustainable Innovation: CLIMADA Technologies Clinches Finance &amp; Insurance Top Prize</dc:text></item><item><title>Global Cross-Border Payments to Surge by 53% by 2030, Fueled by Digital Innovations</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxCross-border payment flows are projected to increase by 53% between 2023 and 2030, rising from US$190 trillion to US$290 trillion. This growth will be driven by the rise of innovative payment technologies and trends including real-time payment (RTP), blockchain, and embedded finance, which are poised to make transactions faster, easier and more transparent, a new report by Convera, an American business-to-business (B2B) cross-border payments company, says.The report, titled “Fintech 2025+: Trends, technology, and transformation in global commerce”, provides an overview of the cross-border payments landscape, shares industry projections and explores emerging trends.According to the report, cross-border payments are expected to experience strong growth over the next seven years, fueled by digitalization efforts by industry stakeholders and technological advancements.RTP systems are highlighted as a key growth driver, praised for their ability to enhance liquidity and financial stability by unlocking working capital and reducing transaction times. Around the world, RTPs have proliferated over the past years, propelled by government support.These have contributed to their growth by establishing and enforcing regulatory frameworks that create a standardized and secure environment for RTP systems. These regulations address data privacy, fraud prevention, and consumer protection, ensuring that the RTP ecosystem is safe and reliable.In addition to regulatory support, governments have also invested in and supported the development of national RTP infrastructures. Examples include India’s Unified Payments Interface (UPI), and Brazil’s PIX, both of which are direct results of governmental initiatives aimed at modernizing payment systems.Governments are now working on integrating RTPs with cross-border payments. In Europe, Sweden joined the Eurosystem TARGET Instant Payment Settlement (TIPS) in February 2024, becoming the first non-euro area country to join the instant cross-border payment scheme with its national currency, the Swedish krona. Meanwhile, the European Payment Council’s One-Leg Out Instant Credit Transfer scheme, which went live last year, aims to streamline international transactions within and beyond Europe.In Southeast Asia, Vietnam, Indonesia, Malaysia, Thailand, the Philippines and Singapore have joined hands to connect their RTP systems, emphasizing QR code usage for retail. This collaboration aims to bolster trade and resilience across the region.In 2023, RTPs continued to climb to new record highs, totaling 266.2 billion transactions and recording a year-over-year (YoY) growth of 42.2%, an industry report by ACI Worldwide and GlobalData show. The figure gives RTPs a share of 19.1% among all electronic transactions globally. By 2028, that proportion is expected to rise to 27.1%, and reach a total of 575.1 billion transactions, representing an annual growth rate of 16%.Global real-time payments volume and share in overall payments, 2016-2028f, Source: 2024 Prime Time for Real-Time Global Payments Report, ACI Worldwide/GlobalData, Apr 2024Another growth driver highlighted in the report is the integration of blockchain technology. Fintech companies are increasingly using distributed ledger technology (DLT) to address the challenges associated with cross-border payments by enhancing transparency and traceability, reducing fraud risk and improving security.A survey conducted in 2022 by PYMNTS.com found that 37% of businesses were already using blockchain for cross-border payments, with an additional 13% expressing a desire to adopt this technology in the future.The use of blockchain for cross-border transactions is expected to grow rapidly, with projections by Statista indicating a significant increase in B2B transactions on blockchain by 2025, led primarily by the Asian market.On a global scale, the Bank for International Settlements (BIS) is collaborating with central banks on several DLT projects aimed at enhancing cross-border payment speed, transparency, and interoperability.Project Agora, for example, seeks to integrate tokenized commercial bank deposits with tokenized wholesale central bank money using smart contracts for instantaneous settlement. Project mBridge aims to create a unified platform for issuing and exchanging wholesale central bank digital currencies (CBDCs) from multiple central banks, reducing cross-border transfer times from days to seconds. Finally, Project Dunbar focuses on developing a common platform for CBDC issuance and exchange to address interoperability challenges.Embedded finance is another driver of cross-border payments outlined in the report. Embedded finance, which refers to the integration of financial services or tools into non-financial platforms, apps or ecosystems, represents a significant evolution in the financial services landscape, building upon concepts like open banking, open finance, modular banking and banking-as-a-platform (BaaS).The approach is now utilized across various sectors to enhance shopping experiences and mobile services. It’s also used in supply chain operations to streamline processes and facilitate trade finance. For businesses with international operations, embedded finance simplifies currency exchange in cross-border transactions.Estimates suggest that the global opportunity for embedded finance will reach US$7.2 trillion in the next decade, twice the combined value of the world’s top 30 banks today.Cross-border payment revenues are expected to reach US$260 billion by 2030, driven by the B2B segment (US$220.5 billion). Consumer-to-business cross-border transactions are set to generate US$34 billion in revenues, followed by business-to-consumer (US$13.4 billion), and consumer-to-consumer (US$12.3 billion).Cross-border payment revenues by transaction type, 2023-2030, Source: 2024 Prime Time for Real-Time Global Payments Report, ACI Worldwide/GlobalData, Apr 2024Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/global-cross-border-payments-to-surge-by-53-by-2030-fueled-by-digital-innovations</link><guid>3682</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Global Cross-Border Payments to Surge by 53% by 2030, Fueled by Digital Innovations</dc:text></item><item><title>Federal Department of Finance Reports Progress in Open Finance in Switzerland</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDuring its meeting on 19 June 2024, the Federal Council was informed by the Federal Department of Finance (FDF) about the most recent open finance developments in Switzerland.The latest advances made by the industry are considered sufficient at this time, so that there is no need for further regulatory measures to be proposed. The FDF will continue to closely monitor developments in the financial sector as a whole based on the targets set by the Federal Council in December 2022.Open finance refers to the practice of financial institutions using standardised and secure interfaces to make financial data available to other financial service providers such as fintechs, insurance companies and banks at the request of clients. In this way, clients can benefit from new, innovative products. It would be possible to create an overview of all bank accounts, investments and retirement assets or calculate the carbon footprint of financial investments, for example, at the click of a button.Open Finance: Different to UKUnlike in the European Union or the United Kingdom, there is no legal obligation in Switzerland for financial institutions to make financial data available to third-party providers at their clients’ request. Instead, the Federal Council expects the private sector, together with interested stakeholders, to push ahead with the standardisation and opening of interfaces in the various areas. In December 2022, the Federal Council instructed the FDF to submit possible measures to it by June 2024 in the event that the financial sector failed to make sufficient efforts to open its data interfaces.The Federal Council was updated on the latest progress in the area of open finance during its meeting on 19 June 2024. The most recent developments, especially the multibanking initiative that was launched by means of a memorandum of understanding signed by 40 banks in May 2023, are seen as a clear commitment by the banking sector to open finance, even if the Federal Council’s targets for open finance in Switzerland (common standards, opening of interfaces, scalability) have not yet been fully reached. The FDF therefore informed the Federal Council that no government measures are required at present.Deadline end of 2025The February 2022 Federal Council report on digital finance stipulates that the need for action to promote and expand open finance should be reviewed on a regular basis, with a deadline of the end of 2025. The FDF will thus keep a close eye on further developments. It will monitor whether the multibanking initiative is being implemented effectively, whether the interfaces to non-bank third-party providers such as fintechs are being opened and how committed the insurance sector is to open finance. In addition, the multibanking initiative offers an interesting model for opening further interfaces, e.g. for securities custody accounts, for pillar 3a or in the insurance sector.The Federal Council will continue to have the FDF keep it abreast of any measures that may need to be taken to promote open finance in Switzerland.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/federal-department-of-finance-reports-progress-in-open-finance-in-switzerland</link><guid>3681</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Federal Department of Finance Reports Progress in Open Finance in Switzerland</dc:text></item><item><title>Outdated Systems, Traditional Mindset Among Key Challenges Hindering Success of Incumbent Bank Digital Spin-Offs</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTraditional banks have launched separate digital banking arms – referred to as spin-offs – to compete with digital challengers and fintech companies offering smoother digital experiences and innovative products. However, spinning off a digital bank also presents challenges and many incumbents fail in their endeavor due to legacy technology, outdated business models, traditional mindsets, and core cultural incompatibility, a blog post by Gazi Yar Mohammed, a C-level bank executive and fintech entrepreneur, says.The post, titled “Can Traditional Banks Compete with Digital Banks Through Spin-Off Strategies?”, discusses the potential of traditional banks to compete with digital banks by creating their own digital banking arms. It also explains why many banks fail in their spin-off attempts.According to Mohammed, a number of incumbents make the critical mistake of viewing spin-offs as extensions of their existing businesses. Hence, many spin-offs are constrained by established procedures, preventing them from adopting the innovative approaches necessary to compete in a digital landscape.Spin-offs can also be hampered by legacy technology. Burdened with outdated systems, they struggle to match the agility of fintech startups.Thirdly, a traditional mindset is another major hindrance. The lack of fresh perspectives makes it difficult for these ventures to disrupt the status quo and meet evolving customer needs.Lastly, there is an incompatibility with the core culture of the parent bank. Operating within the existing framework stifles the customer-centric culture and agile work practices crucial for success.A successful strategyTo overcome these challenges, Mohammed advises incumbents to establish a truly separate entity for their spin-off ventures. This new entity should have a dedicated team with a distinct mission. This team should consist of both experienced bank personnel and individuals with forward-thinking digital expertise.The business model should rely on a highly efficient and low-cost operation. This can be achieved by adopting a lead organizational structure and relying on cloud-based technology, automated processes and a remote workforce.The foundation should involve a cloud-native, API-enabled technology stack which facilitates rapid innovation, seamless integration, and easy scaling. Key components of this technology stack should include a modern core banking system that handles deposits, lending, and other essential functionalities; a data and artificial intelligence (AI) platform that centralizes transaction and customer data, and which enables AI and machine learning (ML) models for personalization, fraud detection, and advanced analytics; DevOps and micro-services that utilize agile development practices and a containerized micro-services architecture, ensuring flexibility and scalability; and open banking capabilities with standard APIs that enable data sharing and integration with third-party service providers, fostering embedded finance opportunities.Digital bank spin-offs should also adopt efficient client acquisition methods, including digital onboarding, social media marketing, self-service tools, and data-driven outreach strategies. Premium value-added services should be offered, including premium accounts with enhanced features, commission revenue from product cross-selling, and revenue sharing from partnerships.Finally, the product roadmap should balance innovative offerings with traditional banking services. This can include mobile-first checking and savings accounts, peer-to-peer (P2P) payments, high-interest savings products with robo-advisory capabilities, digitized loan products for mortgages, cashback programs or integration with buy now, pay later (BNPL) platforms.The growing popularity of digital bank spin-offsOver the past years, digital-only spinoffs have become an increasingly popular way for incumbent banks to target new demographics, expand their reach, and test new products and technologies. According to Mohammed, more than 50 digital banks have been spun off by incumbents.Digital bets of incumbent banks, Source: Gazi Yar Mohammed, Apr 2024Bank Jabo by PT Bank in Indonesia is among the most successful ones. The venture, launched in 2021, has rapidly grown to reach 10.2 million customers, becoming one of the few profitable digital banks globally.Bank Jago’s consistency in innovation and collaboration with the digital ecosystem has played a vital role in its customers’ growth. One of Bank Jago’s strategic initiatives is GoPay Tabungan by Jago, launched in October 2023. Through its collaboration with GoPay, part of GoTo Financial, GoPay Tabungan by Jago is a savings account product for daily transactions that can be accessed directly via the GoPay and Gojek Apps.The bank has also inked partnerships with other leading brands including Atome, Tokopedia, Bibit, and Stockbit, allowing it to offer a unique value proposition and reduce customer acquisition costs.Furthermore, Bank Jago has achieved successes in implementing AI and analytics to enhance customer experience, personalize services and adapt to user needs. An example of the bank’s innovative features is the “pockets” and “shared pockets”, inspired by the Indonesian “amplop” system in which a person uses envelopes to save money for different purposes. Bank Jago’s pockets allow users to digitally manage money for different purposes and share these pockets with others, aligning with local financial management practices.Another successful digital bank spin-off is Chase UK, the digital banking arm of US banking giant JP Morgan. Launched in 2021, Chase UK has grown to serve two million customers and manage some GBP 15 billion in deposits.Chase UK is winning over customers through a slick digital experience and high standards of customer care. It’s benefiting from JP Morgan’s brand recognition and deep pockets to invest in building out its UK digital banking capabilities rapidly.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/outdated-systems-traditional-mindset-among-key-challenges-hindering-success-of-incumbent-bank-digital-spin-offs</link><guid>3680</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Outdated Systems, Traditional Mindset Among Key Challenges Hindering Success of Incumbent Bank Digital Spin-Offs</dc:text></item><item><title>Private Capital Activity Rises in DACH; AUM Surge Over 140% Since 2018</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxPrivate capital activity has increased remarkably in Germany (D), Austria (A) and Switzerland (CH), collectively referred to as DACH.In December 2022, DACH-based fund managers held a total of EUR 238 billion in assets under management (AUM), up by more than 140% since 2018, a new report by Preqin, a London-based investment data company, shows.DACH-based assets under management, Dec 2003 – Dec 2022, Source: Private Capital in DASH 2023, PreqinWithin private capital, private equity (PE) activity witnessed momentum, rising from EUR 26.7 billion in 2018 to EUR 75.7 billion in 2022. The surge was driven by several billion-dollar deals, including the EUR 17.2 billion TK Elevator deal of 2020, the CHF 10.2 billion deal for Galderma, formerly Nestlé Skin Health, in 2019, and the US$5 billion deal for Veeam Software Group in 2020.DACH-based private equity assets under management, Dec 2013 – Dec 2022, Source: Private Capital in DASH 2023, PreqinVenture capital (VC) AUM climbed from about EUR 12 billion in December 2018 to EUR 32.3 billion by the end of 2022, with notable deals including US$1 billion rounds secured by Gorillas Technologies, a German on-demand grocery delivery and dark store operator, and Celonis, a German data processing company; a US$900 million Series E raised by German digital bank N26; and a US$900 million Series C secured by German neobroker Trade Republic.DACH-based venture capital assets under management, Dec 2013 – Dec 2022, Source: Private Capital in DASH 2023, PreqinIn DACH, private capital activity is increasing as more managers enter the market. Between 2018 and 2023, the number of active general partners in the region doubled, surging from 986 to 2,084, with the most dynamic manager growth happening in PE and VC. PE grew by 90% during the period, while in VC, the figure doubled.Number of active DACH-based GPs by asset class, 2018 vs. 2023, Source: Private Capital in DASH 2023, PreqinThe surge is largely due to more DACH-based investors participating in private capital, driven by private wealth. Since 2018, the number of family offices involved in private capital has increased by over 140%. This growth is primarily focused in Germany, where the number of private capital investors has risen by nearly 70% over the same period.Number of DACH-based private capital investors by type, 2018 vs. 2023, Source: Private Capital in DASH 2023, PreqinDespite the momentum in private capital activity, the data show that DACH still represents under 10% of the total EUR 2 trillion European private capital AUM. The region is lagging behind its two regional rivals, France and the UK, which have embraced alternative investments more actively over the last decade. In fact, private equity AUM in the UK is over six times greater than that of DACH.DACH private equity assets under management vs. France and the UK, Dec 2013 – Dec 2022, Source: Private Capital in DASH 2023, PreqinOver the mid-term, Preqin expects Germany to become a popular home for PE investments, particularly in the Mittelstand market. Mittelstand are generally private, family run companies that specialize in one product or service. These companies are typically defined as mid-market organizations with up to 250 employees and annual turnovers of no more than EUR 50 million.Private equity fund managers across Europe have sought access to Mittelstand companies, which are the economic backbone of Germany, making up over 99% of firms and accounting for 58.5% of jobs.Deutsche Beteiligungs AG, a PE firm specializing in mid-sized companies, reported in January 2024 that the buyout market in the German Mittelstand market is growing at an average annual rate of around 7%, indicating a yearly increase in the number of businesses being sold by founders and families.The importance of PE firms for Germany’s Mittelstand has significantly increased in recent years. Ulrike Hinrichs, executive board member of the German Equity Capital Association, told springerprofessional.de in an interview in March 2024 that this is because SMEs often need more support for growth, internationalization, and technological innovations than traditional bank financing can provide.Munich Strategy, a consulting firm specializing in mid-sized companies, conducted an analysis of over 800 mid-sized companies, and found that companies backed by PE grow faster in sales and profits compared to owner-managed companies.In particular, PE-backed companies recorded an average annual sales growth of 7.5% between 2018 and 2021, while owner-managed companies grew by only 2.3% during the same period. After the COVID-19 pandemic, PE-backed companies showed a particularly rapid recovery with an average sales growth of 15.6% in 2021, compared to 7.7% for owner-managed companies.PE investments also lead to more job creation. Between 2018 and 2021, the number of employees in owner-managed companies increased by 1.3% per year. In contrast, PE-backed companies saw an 8% annual increase in employees, partly due to takeovers.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/private-capital-activity-rises-in-dach-aum-surge-over-140-since-2018</link><guid>3679</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Private Capital Activity Rises in DACH; AUM Surge Over 140% Since 2018</dc:text></item><item><title>Economic Growth for Southeast Asia Forecast to Reach 4.5%; AI to Fuel Demand for Semiconductors</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Asian Development Bank (ADB) has released its annual outlook and economic forecasts for Asia-Pacific (APAC), predicting strong economic growth in Southeast Asia driven by robust domestic demand, a continued recovery in tourism, and an expansion of the semiconductor industry.The subregion is expected to grow by 4.6% in 2024 and 4.7% in 2025, up from 4.1% in 2023.Singapore’s gross domestic product (GDP) is forecast to grow by 2.4% in 2024, up from 1.1% in 2023, supported by continuing recovery in manufacturing and external trade. Growth in manufacturing will gradually pick up in tandem with the turnaround in global electronics demand, while services will remain resilient, supported by trade-related sectors, the ADB predicts.Stable consumption and a recovery in investment will support domestic demand, despite higher domestic taxes, and external demand is already showing signs of recovery, increasing by 16.1% in January 2024.Across the broader Southeast Asia subregion, the Philippines (6% in 2024 and 6.2% in 2025) and Vietnam (6% in 2024 and 6.2% in 2025) are expected to see the strongest economic growth through 2025, boosted by a resurgence in merchandise exports starting in mid-2024. Indonesia, meanwhile, will maintain a 5% growth rate over the next two years, supported by strong private consumption, public infrastructure spending, and gradually improving investment. Across the region, tourism will further support services growth across the subregion, while industrial output will align with a recovery in exports and easing monetary policy.Finally, Southeast Asia’s inflation will continue to ease, the ADB predicts, falling from 4.1% in 2023 to 3.2% in 2024 and 3% in 2025.Southeast Asia: GDP forecasts, Source: Asian Development Bank, Apr 2024In 2023, economic growth in Southeast Asia slowed, dipping from 5.7% in 2022 to 4.1% in 2023 as weaker external demand contributed to slower growth in nine of the subregion’s 11 economies.Southeast Asia’s exports of electronics contracted by 7.5% in 2023 (up to November) after a strong 19.1% expansion in 2022. With the exception of Singapore, the subregion has been less involved in producing the AI and automotive chips driving the upturn in the semiconductor demand cycle.Sector contributions to nominal goods export growth in developing Asia, Source: Asian Development Bank, Apr 2024The rise of AI fuels demand for semiconductorsSemiconductors are the fundamental building block of modern electronics. They are critical not to consumer electronics but also to technologies like artificial intelligence (AI), 5G telecommunications, and electric and autonomous vehicles, among others.Southeast Asian economies have been striving to increase their share in the global semiconductor value chain, and the ADB predicts that the rising AI-driven demand for specialized microchips could benefit these economies.Southeast Asian countries could see gains due to their focus on downstream services such as assembly, testing, and packaging, which are vital to the global semiconductor industry. Moreover, these economies provide younger, more abundant, and lower wage workers that can attract investments from large semiconductor manufacturers in East Asia as they diversify their production base.Evidence suggests that this is already taking place, with the state of Penang in Malaysia attracting almost US$13 billion in semiconductor-related foreign direct investment in 2023, exceeding the total for the previous seven years combined, according to Prime Minister Datuk Seri Anwar Ibrahim.Malaysia, which already accounts for 13% of global semiconductor testing and packaging, is targeting at least MYR 500 billion (US$107 billion) in investment for its semiconductor industry. The country has already dran investments from leading international firms including US chipmaker Intel and German firm Infineon. Western firms AT&amp;S, Nvidia, Ericsson and Bosch are also expanding their operations in Malaysia, as are the Chinese companies Xfusion, StarFive, and TongFu Microelectronics.Vietnam’s capital, Hanoi, is also working to become a semiconductor production hub by 2050, offering tax breaks and other incentives to attract semiconductor companies.To keep harnessing this potential, the ADB advises governments in the region to continue devising policies that attract foreign direct investment, increase spending on research and development, and invest in human capital development, as semiconductor manufacturing requires highly skilled labor.Asia’s semiconductor sectorHigh-income and developing economies in Southeast Asia and East Asia, such as Taiwan, South Korea and Mainland China, account for more than 80% of global semiconductor manufacturing.Semiconductor exports, selected Asian economies, Source: Asian Development Bank, Apr 2024After contracting sharply at the end of 2022, exports from Asia’s main semiconductor manufacturing economies picked up over 2023 and were about 15% higher in the last quarter of the year relative to the first quarter.Exports of electrical machinery equipment and parts, selected Asian economies, Source: Asian Development Bank, Apr 2024This increase in semiconductor exports was primarily driven by increasing demand for microprocessors and memory chips, which grew by almost 25% from the first to the last quarter of 2023. Their share in overall semiconductor exports from Asia’s main producers rose almost 5% points over 2023, boosted by the exponential growth in generative AI applications like ChatGPT and the need for specialized, high-performance hardware to support these applications, the report says.Global sales of semiconductors are expected to reach US$588 billion this year, up from US$520 billion in 2023, according to the World Semiconductor Trade Statistics (WSTS) organization.Global sales of semiconductors forecasts summary, Source: World Semiconductor Trade Statistics (WSTS), Nov 2023Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/economic-growth-for-southeast-asia-forecast-to-reach-45-ai-to-fuel-demand-for-semiconductors</link><guid>3678</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Economic Growth for Southeast Asia Forecast to Reach 4.5%; AI to Fuel Demand for Semiconductors</dc:text></item><item><title>Postfinance Starts with ETF Saving Plans</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxPostFinance customers will in future be able to open e-trading saving plans for 30 different ETFs, around 300 shares from the most important indices and PostFinance themed certificates.As of 18 June 2024, PostFinance is the first major Swiss retail bank to offer its customers access to the saving plan function for ETFs, shares and themed certificates.Philipp Merkt“Thanks to their simplicity and cost efficiency, saving plans are experiencing growth and increasing popularity among investors,”says Philipp Merkt, Chief Investment Officer at PostFinance.Put simply, a saving plan works like a standing order. Philipp Merkt explains:“Customers can use the saving plan to buy securities regularly – weekly, fortnightly or monthly – and automatically via the PostFinance e-trading platform.”Saving plans offer a great deal of flexibility: customers can take a break at any time, and they can also adjust their maximum investment amount based on their current financial possibilities.Comprehensive range of saving plan optionsCustomers can choose from a wide range of e-trading products: there are a total of 30 different ETFs, i.e. five per issuer. The partners for the ETF saving plan service are the issuers iShares, Invesco, UBS Asset Management, Amundi, Xtrackers by DWS and Vanguard.The saving plan function will initially be available in the desktop version of e-trading. Integration into the PostFinance App will follow at a later stage.Get the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/postfinance-starts-with-etf-saving-plans</link><guid>3677</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/06/Global-fasttrack-2024.jpg</dc:content ><dc:text>Postfinance Starts with ETF Saving Plans</dc:text></item><item><title>Swiss Sustainable Fintech Map Reveals Booming Sector</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxE.foresight, a Swiss banking think tank operated by telecommunications provider Swisscom, has released its Swiss Sustainable Fintech Map, highlighting the fintech companies in Switzerland that incorporate sustainability into their core business models, operations, and products.The map shows that Switzerland is currently home to 49 companies that fall under the sustainable fintech category, providing the segment a share of 12% of the overall fintech ecosystem. Investment management is the most developed sustainable fintech vertical in Switzerland, with 28 companies. It’s followed by banking infrastructure with 15 companies, payments with four, and deposit and lending with two.Swiss Sustainable Fintech Map, Source: e.ForesightThe figure implies that the Swiss sustainable fintech sector rose by 53% between 2023 and 2024, growing at a much faster pace than the fintech sector as a whole (16%) during the period, data from the 2024 IFZ Fintech Study by the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) show.An analysis of the founding years of the sustainable fintech companies based in Switzerland reveals that around half of all sustainable fintech companies were founded in the last three years, which indicates a certain momentum in this area.From a regional perspective, the report shows that the largest cluster of sustainable fintech companies can be found in the canton of Zurich (22 companies), followed by Geneva and Zug (8 each), Basel-City and Schwyz (three each), Vaud (two), and Jura, Neuchâtel, and Thurgau (one each).Sustainable finance on the riseSustainable fintech companies leverage technology to promote environmental, social and governance (ESG) criteria while providing financial services. These companies are rising in prominence for their positive contribution to sustainable developments goals such as reducing carbon footprints, promoting financial inclusion, and encouraging ethical investments.Open Forest Protocol, for example, is developing a scalable open platform that allows forest projects of any size, from around the world to measure, report and verify their forestation data. The company, which raised US$4.1 million in January 2023, uses blockchain technology to verify and record forest data publicly, so anyone can see what is happening with the forests registered.Frigg.eco is a Zurich-based company that provides business-to-business (B2B) software for the financing of renewable energy projects through tokenized green loans. The platform utilizes AI and distributed ledger technology (DLT) to streamline the creation of tokenized green bonds backed by sustainable infrastructure projects and improve transparency.And Pelt8 offers a comprehensive solution for auditable data collection, climate key performance indicators (KPIs) calculation and reporting, helping companies move away from excel spreadsheets to save time and improve efficiencies. The company was named “Early Stage Start-up of the Year” at the 2023 Swiss Fintech Awards.Sustainability in banking and finance has gained increasing attention in recent years, a trend that is evident among investors and with investment activities. Analyses by IFZ show that around half of people in Switzerland have a some preferences for sustainability in financial investments. Moreover, a 2024 report by the Swiss Sustainable Finance organization reveals that sustainability-related investments have been on the uptick over the past years, rising from a volume of CHF 717 million in 2018 to about CHF 1.7 billion in 2023.Development of sustainability-related investments in Switzerland (in CHF billion), Source: Swiss Sustainable Investment Market Study 2024, Swiss Sustainable Finance, Jun 2024The topic is also highly relevant at a regulatory level. On January 01, 2023, the new self-regulation of the Swiss Bankers Association came into force, obliging banks to survey the sustainability preferences of their customers and provide customers with investment products that are in line with these preferences.Switzerland’s green fintech ambitionsSwitzerland is recognized as the fourth market globally for sustainable fintech. This thriving space has risen on the back of supportive initiatives and promotion efforts by the government.Key initiatives include the establishment of the Green Fintech Network, set up in November 2020, and the subsequent release of the Green Fintech Action Plan in April 2021. The Green Fintech Network is an informal group of experts representing companies and organizations such as the Zurich University of Applied Sciences, F10 Fintech Incubator and Accelerator, PwC and Swisscom, but also green fintech startups like MSCI Carbon Delta, Rep Risk and Yova. The group was initiated by the State Secretariat for International Finance SIF and is part of Switzerland’s broader ambition to become a global leader in green digital finance.In 2022, the Federal Council launched a new system that measures the environmental impact of financial investments. The Swiss Climate Scores are designed to provide both institutional and private investors in Switzerland with clear, comparable information on how well their financial investments align with international climate goals.Currently, the Swiss government is working on a new legislation to regulate greenwashing in the financial sector. The Federal Department of Finance said a draft bill should be available for consultation by August 2024.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/swiss-sustainable-fintech-map-reveals-booming-sector</link><guid>3675</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Swiss Sustainable Fintech Map Reveals Booming Sector</dc:text></item><item><title>2024 Money20/20 Europe Key Takeaways and Top Themes</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Money20/20 Europe conference, one of the largest annual payments and fintech events in the region, returned to Amsterdam from June 04 to 06, 2024, bringing together global innovators, venture capitalists (VCs), banks, regulators and media platforms to discuss the fintech industry’s biggest opportunities and most pressing issues.The 2024 edition ran under the theme “Human X Machine”, examining the dynamic relationship between humans and intelligent machines, and how a partnership between artificial and human intelligence can forge a new era in finance.With over 350 speakers, the event explored significant technological advancements and trends, including artificial intelligence (AI), open banking, growing collaboration between industry stakeholders, and business-to-business (B2B) fintech innovation.Optimism persistsMcKinsey reports that, despite funding challenges over the past three years, optimism remains strong within the fintech ecosystem. Funding volumes have stabilized with year-to-date numbers standing at about the same level as the last three quarters of last year and industry stakeholders showed confidence on the sector’s growth prospects, particularly in the untapped potential of B2B fintech.The consultancy notes a shift in investment patterns with a larger portion of capital going allocated to middle-market companies rather than just large, high-profile deals. Mid-market companies typically refer to the companies that are not as large as major corporations but which are more established than early-stage startups. In Q1 2024, the share of smaller deals of less than US$100 million accounted for almost 70% of the total, suggesting a diversification of investment that’s expected to drive greater innovation in untapped fintech verticals, including B2B fintech.The growth of B2B fintechInitially, fintech innovation focused on consumer-targeted services such as mobile banking, peer-to-peer (P2P) payments, personal finance management, and investment apps. However, there has been a growing emphasis on B2B fintech solutions.McKinsey notes that this year’s Money20/20 Europe edition highlighted the continuing acceleration and scaling of B2B business models. Successful business models are scaling well, especially in B2B, and are moving from exploratory niches to robust growth domains.FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, reports signs of growing engagement with the infrastructure side of the industry, with more companies discussing payment rails, networks and interoperability. This has led to greater interest in real-time payment solutions, particularly in markets with traditionally slower rails and for applications such as B2B payments.Ecosystem convergesOne main theme at the 2024 Money20/20 Europe conference was the convergence of the fintech ecosystem and the collective willingness to solve issues together. Many conversations involved fintech startups, banks, regulators, platform operators and merchants, all seeking to unlock new opportunities.While all sides have their own priorities and challenges, fintech startups are recognizing that they need banks for reach, and banks are understanding that they need fintech startups for product, McKinsey reports. It notes that currently, collaborative efforts mainly focus on infrastructure, open banking, digital identity, compliance services, fraud, and anti-money laundering (AML).Cloud migration opportunitiesMcKinsey reports significant opportunities in cloud migration. While nearly all players are in some stage of a transition, considerable progress is still needed. McKinsey’s cloud survey suggests that while financial institutions globally aspire to invest more than one-third of their IT spending on private cloud systems, they for now are spending less than half of that.Likewise, there was much ambitious talk about moving to software-as-a-service (SaaS) solutions for payments, though more action is needed to fully realize this transition. This presents significant opportunities for providers, the consultancy says.AI still in the early adopter phaseWhile AI was a major theme at this year’s event, research and advisory company Forrester reports that discussions remained mostly high-level and focused on operationalizing generative AI (gen AI). This includes conversations on budget and generating return on investment, legal and ethical implications, as well as investing in appropriate data and risk foundations.Overall, organizations are largely focusing on how they can realistically make use of the technology, with proven areas such as fraud prevention currently winning out over some of the more exciting but experimental areas of focus.Experts noted that technology departments currently lead gen AI efforts, but for significant impact, business ownership is crucial. Seamus Smith, group president of global B2B payments at FIS, highlighted the potential of AI and machine learning (ML) in transforming B2B payments, though he noted the early stage of these technologiesmOpen banking opportunitiesChanging payment methods is difficult because of the complex value chain, high security and reliability standards, and business models that depend on scale. This is why open banking payments have been slow to catch on since the Payment Services Directive 2 was introduced. In January 2024, only 8.2% of digitally enabled customers in the UK used open banking payments, and these payments still made up a small portion of total payment volume.However, there was a lot of energy and optimism about open banking at Money20/20 Europe, with practical solutions discussed that could lead to significant growth in open banking payments by 2025, Forrester reported.In retail, discussions focused on how payment stakeholders can replicate the success of card schemes. One approach is to unbundle card services and add value as needed. For example, merchants could offer discounts or rewards to customers who use open banking payments, or provide insurance for transactions where customers might want a chargeback option.Huw Davies, co-founder and CEO of Ozone API, and Marie Walker, open futurist at Raidiam, explored the evolution of open banking into “open everything”, embedding financial services into sectors like healthcare and transportation to create new market opportunities, the Fintech Times reports. They emphasized the importance of leveraging common infrastructure and industry collaboration.Tokenization sees slow adoptionTokenization, a process which involves converting assets into digital tokens that can be traded on a blockchain, is gaining increasing traction within the financial industry.Industry leaders discussed the progress and future of tokenization. Anthony Day, head of strategy and marketing at Midnight, noted that mass adoption of tokenization has been slower than expected, a sentiment which was shared by Ryan Rugg, head of digital assets at Citi Treasury and Trade Solutions, who expressed surprise at the slow progress.Alisa DiCaprio, chief economist at R3, emphasized that tokenization offers more efficient solutions compared to existing paper-based systems. It allows for continuous, real-time transactions and can integrate various systems seamlessly.Featured image credit: Money2020EUGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/2024-money2020-europe-key-takeaways-and-top-themes</link><guid>3676</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>2024 Money20/20 Europe Key Takeaways and Top Themes</dc:text></item><item><title>Rise in AI Adoption Prompts Global Push for Regulation</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe rapid expansion and deployment of generative artificial intelligence (gen AI) and AI more broadly across organizations worldwide has resulted in a global push for regulation.In the US, President Joe Biden signed an executive order on AI in October 2023, laying out AI standards that are set to be eventually codified by financial regulators. Over the past five years, 17 US states have enacted 29 bills focused on regulating the design, development and use of AI, according to the Council of State Governments.In China, President Xi Jinping introduced last year the Global AI Governance Initiative, outlining a comprehensive plan focusing on AI development, safety and governance. Authorities have also issued “interim measures” to regulate the provision of gen AI services, imposing various obligations relating to risk assessment and mitigation, transparency and accountability, as well as user consent and authentication.Recently, Japanese Prime Minister Fumio Kishida unveiled an international framework for the regulation and use of gen AI called the Hiroshima AI Process Friends Group. The group, which focuses on implementing principles and code of conduct to address gen AI risks, has already gained support from 49 countries and regions, the Associated Press reported on May 03.Impact of EU’s AI Act on financial services firmsThe European Union’s AI Act is perhaps the most impactful and groundbreaking regulation to date. Approved by the EU Parliament in March 2024, the regulatory framework represents the world’s first major law for regulating AI and is set to serve as a model for other jurisdictions.According to Dataiku, an American AI and machine learning (ML) company, the EU AI Act will have considerable impact on the financial services industry and firms should prepare for compliance now.Under the AI Act, financial firms will need to categorize AI systems into one of four risk levels and take specific mitigation steps for each category. They will need to explicitly record the “Intended Purpose” of each AI system before they start developing the model. While Dataiku says that there’s some uncertainty about how this will be interpreted and enforced, it notes that this indicates a stricter emphasis on maintaining proper timelines than current regulatory standards.Additionally, the AI Act introduces “Post Market Monitoring (PMM)” obligations for AI models in production. This means that firms will be required to continually monitor and validate that their models remain in their original risk category and maintain their intended purpose. Otherwise, reclassification will be needed.Dataiku recommends financial services companies to promptly familiarize themselves with the AI Act’s requirements and assess whether current practices meet these standards. Additionally, documentation should begin at the inception of any new model development, particularly when models are likely to reach production, it says.Moreover, Dataiku warns that the EU’s proactive stance may encourage other regions to accelerate the development and implementation of AI regulations. By 2026, tech consulting firm Gartner predicts 50% of governments worldwide will enforce use of responsible AI through regulations, policies and the need for data privacy.A groundbreaking regulatory frameworkThe EU’s AI Act is the world’s comprehensive regulatory framework specifically targeting AI. The legislation adopts a risk-based approach to products or services that use AI, and impose different levels of requirements depending on the perceived threats the AI applications pose to society.In particularly, the law prohibits applications of AI that pose an “unacceptable risks” to the fundamental rights and values of the EU. These applications include social scoring systems and biometric categorization systems.High-risk AI systems, such as remote biometric identification systems, AI used as a safety component in critical infrastructure, and AI used in education, employment and credit scoring, are forced to comply with stringent rules relating to risk management, data governance, documentation, transparency, human oversight, accuracy and cybersecurity, among others.Gen AI systems are also subject to a set of obligations. In particular, these systems must be developed with advanced safeguards against violating EU laws, and providers must document their use of copyrighted training data and uphold transparency standards.For foundation models, which include gen AI systems, additional obligations are imposed, such as demonstrating mitigation of potential risks, using unbiased datasets, ensuring performance and safety throughout the model’s lifecycle, minimizing energy and resource usage and providing technical documentation.The AI Act was finalized and endorsed by all 27 EU member states on February 02, 2024, and by the EU Parliament on March 13, 2024. After final approval by the EU Council on May 21, 2024, the AI Act is now set to be published in the EU’s Official Journal.Provisions will start taking effect in stages, with countries required to ban prohibited AI systems six months after publication. Rules for general purpose AI systems like chatbots will start applying a year after the law takes effect, and by mid-2026, the complete set of regulations will be in force.Violations of the AI Act will draw fines of up to EUR 35 million (US$38 million), or 7% of a company’s global revenue.AI adoption surgesGlobally, jurisdictions are racing to regulate AI as adoption of the technology surges. A McKinsey survey found that adoption of AI has reached a remarkable 72% this year, up from 55% in 2023.Gen AI is the number one type of AI solution adopted by businesses worldwide. A Gartner study conducted in Q4 2023 found that 29% of respondents from organizations in the US, Germany, and the UK are using gen AI, making it the most frequently deployed AI solution.Organizations that have adopted AI in at least one business function, Source: McKinsey and Company, May 2024Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/rise-in-ai-adoption-prompts-global-push-for-regulation</link><guid>3674</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Rise in AI Adoption Prompts Global Push for Regulation</dc:text></item><item><title>5 Tips from PayPal on Minimising Fraud and Risk During Summer Holidays</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe World Economic Forum (WEF) 2023 Global Risks Report states that cybersecurity ranksamong the top 10 global risks both currently and in the future. The annual cost of cybercrime isexpected to reach US$10.5 trillion by 2025Data from Barracuda, a cybersecurity company, shows that cyberattacks are more effective during the summer, when companies are short-staffed. In January, only about 1 in 80 (1.25%) threat alerts were serious enough to warrant a security alert to a customer, rising to 1 in 5 (20%) between June and September.Cybersecurity is a growing concern also in the Baltic region, which is home to the rising number not only of foreign-owned companies, but also small and medium-sized businesses, that more and more often become the key targets of cyber assaults.As the summer holiday season approaches, businesses are urged to remain vigilant against a surge in cybercriminal activity. During this time, many companies operate with reduced staff, making them prime targets for hackers.This comes even more alarming since many consumers globally spend more and more online. The recent PayPal e-Commerce Index reveals that the average monthly spend on online shopping in the set year-on-year increased by 17% in the UK and Spain, by 12% in Italy and by 11% in Germany. More money being spent online combined with an increased number of fraudulent activities force businesses of all sizes to employ data and payment security measures that protect client data and integrity.Efi DahanIn the digital age, all companies operating within the online space must remain vigilant as a single breach can jeopardize years of trust and hard work. This concerns not only the biggest market players, who employ an army of people specialising in security management issues, but also startups and smaller businesses who often have limited resources in this field. In their case, co-operating with a reliable payments partner can help them protect themselves and their customers against different types of frauds. At the end of the day, providing a secure shopping experience not only helps protect the business but also fosters customer loyalty and confidence, ultimately strengthening the business’s reputation, and delivering more revenue –says Efi Dahan, VP, General Manager, Central and Eastern Europe and Israel at PayPal.As the summer holiday season approaches, PayPal has prepared a short guide that can help merchants protect themselves and their customers against scams and other cybersecurity threats.Stay alert: constant vigilance is crucial. Cyber threats can occur at any time, especially during busy periods like summer holidays, Black Friday shopping festival or Christmas. Monitor your systems for unusual activities and be prepared to respond quickly to any suspicious activity. Multiple orders of the same item or various orders shipping to a single address can be red flags. Unusual customer behaviour, such as trying to recover the password multiple times or logging from other locations, should also raise attention.Make sure your software is secure: update your software on regular basis to patch vulnerabilities that cybercriminals could exploit. Use security software to help protect against malware and ensure your systems are compliant with the latest security standards.Use trusted payment methods: clients, both domestic or international, naturally lean towards payment methods they recognize and trust, hesitating to use options they’re unfamiliar with. This inclination can often influence their purchasing decisions in specific online stores. For foreign shoppers, incorporating widely acknowledged payment solutions like PayPal can help. Such platforms instill a sense of security and trustworthiness, as customers can rest easy knowing that if any issues arise, the payment service can help. For merchants, using globally trusted and experienced payment processor can help protect against potential fraud.Educate your customers: Inform your customers about safe online practices, such as recognizing phishing attempts and using strong, unique passwords. An informed customer base can be an additional line of defence against cyber threats.Prevent chargeback frauds: chargeback occurs when a contested transaction is resolved in the cardholder’s (customer’s) favor. If the cardholder’s financial institution agrees with the dispute, it will undo the transaction, retrieving the money from the merchant and refunding it to the cardholder. It is a common cost of business operations. While many of chargebacks are legitimate, others can be the result of frauds. Protection solutions can help merchants automatically manage chargebacks, recovering time and money. Businesses should implement strong verification methods that can check if the billing information a customer inputs matches the billing information on file with the issuer.5 Tips from PayPal on Minimising Fraud and Risk During Summer HolidaysThis article first appeared on Fintech News BalticFeatured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/5-tips-from-paypal-on-minimising-fraud-and-risk-during-summer-holidays</link><guid>3673</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>5 Tips from PayPal on Minimising Fraud and Risk During Summer Holidays</dc:text></item><item><title>FINMA Opens Bankruptcy Proceedings Against Flowbank</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxThe Swiss Financial Market Supervisory Authority FINMA is opening bankruptcy proceedings against FlowBank SA on 13 June 2024.This measure became necessary as the bank no longer has the minimum capital required for its business operations. There are also fears that the bank is over-indebted. The aim of the bankruptcy proceedings is to protect depositors. According to current calculations, the privileged deposits can be repaid in full out of the bank’s available funds.FINMA established in the last week that FlowBank SA no longer has sufficient capital for its operations as a bank. The minimum capital requirements, which must be met at all times, have been significantly and seriously breached.FlowBank SA and its management bodies were unable to take steps to sustainably restore compliance with the capital requirements within the required timeframe. Moreover, there are well-founded concerns that the bank is currently over-indebted. As there is no prospect of a restructuring, the bank must be wound up. FINMA has appointed the law firm Walder Wyss AG as liquidator to carry out the bankruptcy proceedings.Serious breach of supervisory lawFINMA took its first enforcement action against FlowBank SA in October 2021 when it identified serious breaches of supervisory law, specifically with regard to capital requirements, the requirement for an adequate organisation and risk management. In October 2022 FINMA therefore ordered wide-ranging measures to restore compliance with the law and appointed an independent auditor to monitor their implementation.When new information on various compliance deficiencies came to light – including ongoing breaches of the capital ratio – FINMA again took enforcement action against the bank in June 2023 and appointed a monitor to oversee the bank’s activities and investigate its compliance failures.The monitor reported that FlowBank SA repeatedly breached the capital requirements, while its organisation remained deficient in various areas of the bank. The bank’s bookkeeping and financial reporting was found to be inaccurate and incomplete. The bank also failed to fulfil disclosure and reporting obligations to FINMA.In addition, the investigation found that the bank entered into numerous higher-risk business relationships and processed large transactions without properly investigating the background of these business relationships and transactions. The bank increased its risks considerably by entering into these relationships, even though it had not yet resolved its organisational deficiencies. In FINMA’s view, this represented a serious breach of the bank’s money laundering due diligence obligations and FINMA’s prohibition on the bank from entering into additional higher-risk business activities.Given the serious malpractice, the prolonged non-compliance with licensing conditions and the bank’s inability to restore compliance with the law, FINMA ordered the withdrawal of the bank’s licence on 8 March 2024 and disqualified its guarantee of proper business conduct. This ruling does not yet have legal force due to a pending appeal at the Federal Administrative Court. However, during the appeal various precautionary measures decreed by FINMA, e.g. to prevent assets from being withdrawn by the bank, are in effect.FINMA intervening immediatelyAfter the bank’s board of directors approved the 2023 financial statements just a few days ago, and confirmed data to assess the risk of insolvency has only been available for a short time, FINMA established that FlowBank SA’s financial situation is much worse than the bank originally reported. The bank was clearly in breach of the minimum capital requirements at the end of 2023 and again at the end of April 2024. In addition there are well-founded concerns that the bank is over-indebted as at the end of April 2024. The bank was unable to carry out an eligible capital increase within the required timeframe. This new situation requires FINMA to intervene immediately to protect depositors, which is why it has placed the bank into bankruptcy.Repayment of privileged depositsFINMA’s primary aim is to protect depositors. In a first step the liquidator will therefore repay deposits up to CHF 100,000 (privileged deposits) to the clients concerned as quickly as possible. According to current calculations, the privileged deposits can be repaid in full out of the bank’s available funds. Therefore we do not expect the Swiss banks’ deposit insurance scheme (esisuisse) to be involved. Client custody accounts will also be segregated from the estate and repaid.FlowBank SA is a bank offering online brokerage and trading with its head office in Geneva and subsidiaries in London and the Bahamas. The bank has total assets of approximately CHF 680 million, holds over 22,000 client accounts and employs around 140 staff worldwide.In March 2022 London based Digital Asset Manager CoinShares announced a 20.28% Investment into FlowBank.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/finma-opens-bankruptcy-proceedings-against-flowbank</link><guid>3672</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>FINMA Opens Bankruptcy Proceedings Against Flowbank</dc:text></item><item><title>The Swiss Fintech European Championship Football Team 2024</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxAm Freitag ist es endlich soweit und die Fussball Europameisterschaft in Deutschland startet mit den Eröffnungsspiel Deutschland gegen Schottland.Wie bereits 2022 an der WM in Qatar und 2021 an der letzen EM haben wir wieder für die Fussball EM 2024  unser “Swiss Fintech Football Dream-Team” zusammengestellt. (Wie immer: just for fun und weil wir Fussball und Fintech begeistert sind)Das Fintechnews.ch Redaktion freut sich sehr auf die Spiele, hat aber im Gegensatz zum jetzigen Team kein Stürmer-Problem.Schweizer Spiele:15.06 Schweiz-Ungarn, 15.00h in Köln19.06 Schweiz-Schottland, 21.00h in Köln23.06 Schweiz-Deutschland, 21.00h in FrankfurtIm Achtelfinale dann wahrscheinlich gegen Spanien, Italien oder Kroatien ????Hopp Schwiiz!Warum ist Twint seit 2016 der Torhüter?Wir finden Twint verteidigt den Mobile Payment Markt Schweiz sehr gut und so lange Apple Pay keinen Schweizer Pass bekommt, stehen wir zu unseren Oldie Torhüter. Murat Yakin hat ja mit Sommer und Kobel die Qual der Wahl, wir haben auf dieser Position aber ein Problem.Wo bleibt der Nachwuchs?Es ist richtig, dass unsere Formation seit der Fussball WM sich nicht gross geändert hat. Neu im Team sind bspw. Everest und Kaspar&amp;, nachnominiert wurden zudem auch die beiden frisch gekürten Swiss Fintech Awards Gewinner, ansonsten sieht es eher schlecht aus mit dem Fintech Nachwuchs in den letzten par Jahren. Falls Du das anders siehst, lass uns das via Social Media Kommentar wissen.Unsere vergangenen Fussball Fintech Teams findet ihr hier:2022202120182016Das Schweizer Fussball Fintech EM National Team 2024Get the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/the-swiss-fintech-european-championship-football-team-2024</link><guid>3670</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>The Swiss Fintech European Championship Football Team 2024</dc:text></item><item><title>Top Publicly-Listed Fintech Companies</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxCypriot fintech company MD Finance has released its selection of the world’s most promising publicly-listed fintech companies.These companies, selected out of a pool of 200 ventures, are standing out in terms of growth potential and investor appeal, and represent the “most attractive fintech companies for investors in 2024,” according to MD Finance.The 18 companies shortlisted come from North and South America (11), and Asia-Pacific (7), with the USA being the most represented country, totaling ten companies. It is followed by South Korea and Japan, with two companies each. Other countries represented include Kazakhstan, India, Taiwan and Brazil, with one company each.Fintech snapshot: the most attractive fintech companies for investors in 2024, Source: MD Fintech, Jun 2024Valuations and investor sentimentThe analysis by MD Finance reveals that the 18 companies exhibit a median enterprise value (EV)/earnings before interest, taxes, depreciation and amortization (EBITDA) ratio of 34.5. The EV/EBITDA ratio is a popular valuation multiple used to determine the fair market value of a company. It is a widely used measure to assess the relative value of companies, especially within the same industry.An EV/EBITDA ratio below the industry average might suggest the company is undervalued or facing challenges. On the other hand, an EV/EBITDA ratio above the industry average might suggest the company is overvalued or has strong growth prospects.Bank of Montreal, from Canada; Kaspi, from Kazakhstan; and OneMain Holdings, from the US; have the lowest EV/EBITDA ratios of the cohort at 19.5, 10.4, and 22, respectively. The ratios, which stand below the industry median, suggest that these companies are either undervalued or facing challenges.Bank of Montreal is the eighth largest bank in North America by assets, providing personal, commercial and investment banking to 13 million customers. Kaspi offers payments, marketplace, and fintech solutions to 12.6 million monthly active users. Finally, OneMain Holdings provides non-prime consumers responsible access to credit.Conversely, nCino, Navient Corporation, and Rocket Companies – all from the US – have the highest EV/EBITDA ratios of the cohort at 274.7, 172.7, and 159.2, respectively. These numbers are way above the industry average, suggesting that these companies are either overvalued or have strong growth prospects.nCino is a cloud-based banking software provider that’s partnered with more than 1,800 financial services companies. Navient Corporation is a student loan servicer. Finally, Rocket Companies is a fintech company that provides simple, fast and trusted digital solutions for complex transactions, and which serves 2.5 million clients.The analysis by MD Finance also reveals that all companies have a EV/Revenue (EV/Rev) ratio higher than 6 with a median of 9.4. The EV/Rev is another valuation metric used to assess a company’s value relative to its revenue. This ratio helps investors understand how much they are paying for a company’s sales, without taking profitability into account.Like for the EV/EBITDA ratio, an EV/Rev ratio below the industry average might suggest the company is undervalued or limited potential in the eyes of investors, while an EV/Rev ratio above the industry average might suggest that the company is either overvalued or that the market has faith in the company’s ability to generate more efficiently in the future.Bank of Montreal, Kaspi and KeyCorp, from the US, have the lowest EV/Rev ratios of the cohort, at 5, 5.3 and 6.3, respectively. These ratios stand below the industry median, making these companies either undervalued or witnessing slow revenue growth.KeyCorp is a bank holding company that offers a range of retail and commercial banking, commercial mortgage and special servicing, consumer finance and leasing, investment management, and investment banking products and services. It holds about US$187 billion in AUM.At the other end of the spectrum, JIO Financial Services, from India, Navient Corporation and KB Financial Group, from South Korea, have the highest EV/Rev ratios at 109.8, 47, and 34.9, respectively, suggesting overvaluation or strong revenue growth potential.JIO Financial Services provides financial services, including payment services and insurance broking, and boasts 439 million subscribers. KB Financial Group offers a broad range of banking and financial services, and holds around KRW 517.8 trillion of assets under management (AUM).Top public fintech companies KPIs and key valuation multiples, Source: MD Fintech, Jun 2024Financial performanceThe analysis also shows that all of the 18 companies are EBITDA profitable, meaning that their core operations are generating positive earnings before accounting for non-operating expenses and non-cash expenses. However, it also reveals that two companies – nCino and Rocket Companies –  reported a negative net income of -US$16 million and -US$42 million, respectively, in 2023.In contrast, Bank of Montreal, KB Financial Group, Kaspi and Nubank achieved the highest performance in 2023, recording a net income of US$4.4 billion, US$3.5 billion, US$1.9 billion, and US$1 billion, respectively.Nubank is a digital banking platform from Brazil serving about 100 million customers. The company offers digital credit cards, transfers, and payments.Other noteworthy publicly-traded fintech companies featured in the MD Finance shortlist include Payonneer Global and KakaoBank. Payoneer is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital. The company posted US$93 million in net income in 2023 and serves 5 million customers. KakaoBank is a South Korean financial institution specializing in mobile banking services and fintech. The bank recorded US$321 million in net income in 2023 and boasts 23 million customers.Fintech stocks reboundIn Q1 2024, fintech stocks continued their upward trend. The RPP Fintech Index, which tracks the performance of key fintech verticals, saw a 4% increase from its December 2023 value, a sustained growth which highlights the continued strength and expansion of the fintech sector, according to London-based corporate finance advisory Royal Park Partners.Across the fintech verticals covered by the RPP Fintech Index, insurtech recorded the strongest growth, rising by a remarkable 61% quarter-on-quarter (QoQ). The rise of the insurtech index was largely driven by Root Insurance’s strong performances, with its stock price soaring approximately fivefold following the release of its “best-ever” Q4 results.Meanwhile, payments and capital markets witnessed more moderate growth at 5% and 4%, respectively. Conversely, the cryptocurrency and blockchain sector tumbled 16% QoQ. However, the crypto and blockchain vertical rebounded in the first months of 2024 and added 3% after the launch of the first spot bitcoin exchange-traded funds garnered substantial market momentum.Breakdown of fintech verticals, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/top-publicly-listed-fintech-companies</link><guid>3671</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Top Publicly-Listed Fintech Companies</dc:text></item><item><title>Ergon Supports Tenity Fintech Accelerator</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxTenity and Ergon Informatik AG, a pioneer in digitalization and technological solutions based in Switzerland, have partnered to promote digital innovation in Switzerland.Tenity is a leading innovation ecosystem and early-stage investor promoting innovation primarily in the financial and insurance sectors through pre-seed acceleration programs, collaboration-focused open innovation programs for partners, and industry events, among other activities.Andreas ItenAndreas Iten, CEO &amp; Co-Founder of Tenity, explains,“This partnership with Ergon represents a powerful fusion of our expertise in nurturing fintech and insurtech startups with Ergon’s unparalleled experience in digital transformation. We are convinced that the extended Tenity ecosystem will benefit greatly from Ergon’s know-how and expertise.”Strong partners – from the initial idea to market successErgon is a leading provider of IT solutions and services based in Switzerland. Together, Tenity and Ergon will support the fintech and insurtech markets in Switzerland and beyond.Adrian BergerAdrian Berger, Managing Director Finance Solutions &amp; Member of the Executive Board at Ergon, explains the importance of this cooperation:“The partnership with Tenity will allow us to effectively use our extensive knowledge and experience in the field of digital transformation and create innovative solutions for fintech and insurtech companies. Together, we combine our strengths and support startups from the initial idea through to market success.”Ergon has over 20 years of experience in working with both international and local financial service providers, establishing many meaningful and lasting partnerships along the way. These partnerships have included projects in retail banking, private banking, wealth management, asset management, stock exchange and POS transactions. Ergon even developed the first Internet banking system in Switzerland. When it comes to insurance, Ergon has extensive know-how in broker systems, B2B transactions and insurance portals.Within the Tenity ecosystem, Ergon offers specialist expert knowledge in areas such as tech consulting, user experience design, software engineering and data and artificial intelligence. This expertise is specially tailored to the requirements of startups accepted on the “Tenity Pre-Seed Fintech Accelerator Program”.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/ergon-supports-tenity-fintech-accelerator</link><guid>3669</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Ergon Supports Tenity Fintech Accelerator</dc:text></item><item><title>The Winners of the Swiss Fintech Awards 2024 Are….</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxFor the ninth time, the Swiss FinTech Awards celebrated outstanding Swiss start-ups and influential personalities from the Swiss fintech scene on the evening of June 11 in Zurich.AI Start-up Neur.on AI Wins “Early Stage Start-up of the Year”Neur.on AI emerged victorious in the “Early Stage Start-up of the Year” category. This young company offers an AI-based translation solution specialized for the financial industry, enabling more cost-effective and precise translations of any financial documents compared to existing market offerings. With this, the start-up addresses a $10 billion market (USD) infinancial and legal translations.Also making it to the finals in this category was the start-up CLIMADA Technologies, which provides financial service providers with transparent and regulatory-compliant climate change reporting.GenTwo Expands the Investment Universe and Wins “Growth Stage Start-up of the Year”In the “Growth Stage Start-up of the Year” category, GenTwo took the prize. GenTwo expands the investment universe through the “assetization” of previously inaccessible, unbankable assets – driven by technology and innovations in securitization and tokenization. With their offerings, GenTwo has created financial products worth five billion US dollars for over 300 clients in 26 countries.Also in the finals was payrexx, a payment service provider offering easy access to over 200 payment options on its platform. The company has so far acquired 60,000 merchants as customers and integrated its platform as a white-label solution with over 100 partners.Johannes “Johs” Höhener HonoredJohs. HoehenerJohannes “Johs” Höhener received the “FinTech Influencer of the Year” award for his decades-long positive impact on the fintech industry. Throughout his career, Höhener has influenced the Swiss FinTech community in various roles and companies, including establishing and leading Swisscom’s fintech division, founding and developing the ecommerce competence center for cantonal banks e-research AG, and numerous advisory roles such as with Swiss Stablecoin AG and board positions like for example with daura AG.The jury of the Swiss FinTech Awards honors Höhener’s constant and tireless dedication to the Swiss fintech landscape with this award.Die Swiss FinTech AwardsSince 2015, the Swiss Finech Awards have fostered a strong Swiss fintech ecosystem.While start-ups undergo a multi-stage application process and must convince the jury, the “FinTech Influencer of the Year” is directly nominated and selected by the jury. The jury of the Swiss FinTech Awards consists of around 20 renowned fintech experts and industry representatives.Get the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/the-winners-of-the-swiss-fintech-awards-2024-are</link><guid>3668</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>The Winners of the Swiss Fintech Awards 2024 Are….</dc:text></item><item><title>Joe Montana and Ashton Kutcher Among Top Celebrity Startup Investors</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxCelebrity investors are becoming an influential force in the venture capital (VC) landscape, offering significant visibility, credibility and strategic support to the startups they invest in. But some are standing out from the pack, demonstrating a knack for identifying future unicorns or strong merger and acquisition (M&amp;A) targets.Market intelligence platform CB Insights has released its “Celebrity VC Index”, ranking the top 20 celebrity investors based on the strength of their portfolios. The index takes into consideration recent financing and exit activity, unicorn metrics, as well as the Mosaic scores of portfolio companies, to identify the most successful celebrity VCs.The Mosaic score is a proprietary algorithm developed by CB Insights that evaluates the health and growth potential of private companies. It combines various metrics and data points into a single score to assess the viability and future prospects of a company.Most active celebrity VCs and best investors at spotting future unicornsAccording to the Celebrity VC Index, Joe Montana, a former American football player, is the most active and successful celebrity VC, topping the ranking by making more investments than any other celebrities and minting more unicorn startups.Since 2020, Montana’s Liquid 2 Ventures has invested in a whooping 569 deals and backed 10 of today’s unicorn startups. These companies include Airbyte, an open-source data integration platform valued at US$1.5 billion, Pipe, a financial services company providing non-dilutive capital solutions for businesses worth US$2 billion, and Whatnot, a livestream shopping platform valued at US$3.7 billion.American actor and entrepreneur Ashton Kutcher ranks second with his Sound Ventures having invested in 118 deals since 2020 and bet on five companies that reached unicorn startups. These ventures include Misfits Market, an online grocery delivery service now valued at US$2 billion, Truepill, an online pharmacy platform worth US$1.6 billion, and Papa, an elderly homecare startup valued at US$1.4 billion.Most exits and highest Mosaic score averageThe Chainsmokers, an electronic DJ duo, and Jay-Z, a rapper and entrepreneur, have seen the most exit activity in proportion to their overall deal volume, recording five exits via M&amp;A or initial public offering (IPO) each since 2020. The Chainsmokers and Jay-Z rank third and fourth in the Celebrity VC Index, respectively.The Chainsmokers have backed startups such as Flink, an online supermarket valued at US$1.07 billion, and WeLoveNoCode, a marketplace that connects 5,000 companies and 36,000 no-code developers; while Jay-Z has invested in ventures including K Health, a healthtech startup worth US$1.5 billion, and Oatly, a Swedish company that develops oat-based diary alternatives. Oatly went public in 2021 at a valuation of US$10 billion, giving Jay-Z a 5x return on investment, according to CB Insights.Mindy Kaling, an actress and producer, leads the ranking in terms of portfolio companies’ Mosaic scores, averaging 883 out of 1,000. Since 2020, Kaling has only invested in seven startups and backed one company that became a unicorn. Maven, a virtual clinic specializing in women’s and family health, reached a US$1 billion valuation in 2021 after raising a US$110 million Series D funding round. Kaling ranks sixth in the Celebrity VC Index.Investment trendsData from CB Insights show that celebrities investors tend to invest in consumer-facing brands and media-adjacent businesses, which align with their personal brand, expertise, and influence. These sectors offer high visibility and market engagement, allowing celebrities to leverage their fame to drive business success.Kutcher, for example, has invested in Warby Parker, a direct-to-consumer eyewear startup that went public in 2021. Kaling, Jay-Z and Serena Williams (#17) have backed Impossible Foods, a company developing plant-based substitutes for meat products.The CB Insights report also notes that the top-performing celebrity investors have turned investing into a consistent business practice. This is shown by the fact that the top five celebrities in the ranking have established their own VC funds in addition to complement their individual investing activity. Alongside Montana’s Liquid 2 Ventures and Kutcher’s Sound Ventures, these funds include the Chainsmokers’ Mantis, Jay-Z’s Marcy Venture Partners, and Kevin Durant (#5)’s Thirty Five Ventures.Other celebrity featured in CB Insights’ Celebrity VC Index include professionals athletes Michael Jordan (#12), Chris Paul (#13), and LeBron James (#19); actors Robert Downey Jr. (#7), Will Smith (#8) and Leonardo DiCaprio (#18); rappers Snoop Dogg (#11) and Drake (#16); social media personalities Josh Richards (#10) and Jake Paul (#20); comedian Kevin Hart (#14); TV host and producer Oprah Winfrey (#9); and DJ Steve Aoki (#15).Top celebrity VCs, Source: CB Insights, May 2024Notable celebrity investors in fintechSeparate research by Fintech Global shows that several of these celebrities are also active in fintech. In particular, Durant, the Chainsmokers, Hart and Smith were among the 10 most active fintech celebrities investors between 2019 and 2023, the report says.Durant’s key investments over the period include Goalsetter, a mobile banking app that allows peer-to-peer transactions; Jeeves, which provides open global business accounts; and Titan, an investment firm also backed by Smith.The Chainsmokers invested in Step, a teen banking app also backed by Smith; Pluang, an Indonesian fractional investing app; and X1 Card, a challenger credit card. Hart backed Fonoa, a tax automation platform, and Mercury, a business banking startup, while Smith invested in Front, a strategic investment platform, and Public.com, a social investing platform.Top 10 most active fintech celebrity investors 2019-2023, Source: Fintech Global Research, Mar 2024Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/joe-montana-and-ashton-kutcher-among-top-celebrity-startup-investors</link><guid>3665</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Joe Montana and Ashton Kutcher Among Top Celebrity Startup Investors</dc:text></item><item><title>AI in Banking Presents Both Risks and Opportunities</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxDespite the promised benefits of improved customer support and personalization, the use of artificial intelligence (AI) in banking also introduces several disadvantages and risks, including data privacy and security issues as well as fraud risks, a new survey by Glassbox found.The study, which polled 1,000 US consumers aged 21+ in May 2024, found that 60% of respondents believe AI in banking presents equal parts benefit and risk. Notably, 47% of respondents identified security risks as their primary concern regarding AI in banking.Security is considered an extreme priority in digital banking by over half of the respondents, with 90% stating that the security of personal information is important or extremely important. This underscores the urgent need for banks to prioritize security and reliability in their digital services.There is also a clear demand for transparent and proactive communication about AI use and related security measures, with 85% of consumers expecting proactive communication from their banks. Moreover, more than half of the respondents indicated they would switch banks if they were victims of AI-related fraud.These concerns are substantiated by another survey conducted by BioCatch, a security services firm. The company, which polled financial institutions in the US and ten other countries in January and February 2024, found that 51% of the organizations surveyed lost between US$5 million and US$25 million due to AI-based or AI-driven threats in 2023. Nearly half of the respondents anticipate an increase in financial crime and fraud in 2024.A rising challenge in this context is deepfake technology, which allows for the creation of fake videos, images, and audio to impersonate individuals. This technology has become increasingly sophisticated and accessible, leading to a significant increase in its use for fraudulent purposes.According to Sumsub’s 2023 Identity Fraud Report, there was a tenfold increase in the number of deepfakes detected globally across all industries from 2022 to 2023, with the crypto and fintech sectors accounting for 96% of these cases. In the fintech space alone, deepfake incidents rose by 700% in 2023 compared to the previous year.Deloitte expects deepfake incidents to proliferate in the years to come as bad actors continue to exploit increasingly sophisticated and affordable generative AI (gen AI) technologies to defraud banks and their customers.The firm estimates that gen AI, which refers to AI systems designed to autonomously generate new, original content, could drive fraud losses in the US to US$40 billion by 2027, up from US$12.3 billion in 2023, representing a compound annual growth rate of 32%.Fraud losses, actual and expected, 2017 to 2027 (US$ billion), Source: Deloitte Center for Financial Services, May 2024Despite the risks and challenges, consumers recognize AI does provide some valuable use in banking. According to the Glassbox survey, 59% of US consumers are comfortable with AI being used to identify potential fraud, and nearly half support its use in fixing mobile app or website errors to improve usability.AI also aids in providing a seamless customer experience across digital platforms, a feature deemed important by 66% of consumers. Additionally, 79% of users emphasized the importance of quality customer support online, and 63% consider personalization based on past activity and history to be significant.Furthermore, customers expect reliable and consistent experiences when accessing financial information and resources. In fact, 87% of respondents stated that overall reliability and the absence of errors are essential when conducting transactions via app or website.Globally, AI is being adopted by the banking sector at a fast pace. A recent McKinsey survey found that adoption of AI has reached a remarkable 72% this year, up from 55% in 2023. Also, responses show that companies are now using AI in more parts of the business. Half of respondents reported that their organizations have adopted AI in two or more business functions, up from less than a third of respondents in 2023.Business functions at respondents’ organizations that have adopted AI, % of respondents, Source: McKinsey and Company, May 2024Top executives in the finance and banking sector are willing to take significant risks for the efficiency improvements brought about by AI. A study conducted by IBM, which surveyed more than 3,000 CEOs in the banking and financial markets, found that 66% believe the potential productivity gains from automation and AI are so substantial that they would accept significant risks to stay competitive. Additionally, 67% said they would take more risks than their competitors to maintain their competitive edge, underscoring the importance of adopting AI in this sector.Featured image credit: edited from freepikGet the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/ai-in-banking-presents-both-risks-and-opportunities</link><guid>3666</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>AI in Banking Presents Both Risks and Opportunities</dc:text></item><item><title>Studie: Die Digitalsten Privatbanken in der Schweiz noch nicht im KI Fieber</title><description><![CDATA[Free NewsletterGet the hottest Fintech Switzerland News once a month in your InboxColombus Consulting veröffentlicht die vierte Ausgabe seiner Studie über die Digitalisierung der Kundenbeziehungen der Schweizer Privatbanken, die mit einem Panel von fast 30 Hauptakteuren des Sektors durchgeführt wurde.Die Studie zeigt, dass die explosionsartige Entwicklung der KI zu immer schnelleren Veränderungen führt. Es ist noch nicht zu spät und für Privatbanken höchste Zeit, sich auf die neuen digitalen Herausforderungen einzustellen, die KI mit sich bringt.Die Rangliste 2024 bleibt weitgehend unverändert, wobei sich eine Top-5-Gruppe vom Rest des Panels abhebtDas Quartett Vontobel, Julius Bär, Lombard Odier und Pictet dominiert auch dieses Jahr die Rangliste.Dank hoher Besucherzahlen auf ihren Webeiten profitieren sie in allen untersuchten Aspekten von einem „Schneeballeffekt“ und generieren einen natürlichen oder bezahlten Besucherstrom, der die Kunden auf ihre digitalen Plattformen (Web, Mobile, soziale Netzwerke usw.) weiterleitet. Der bemerkenswerte Einstieg von Alpian an die Spitze des Rankings im Jahr 2023 wurde in diesem Jahr bestätigt, was den innovativen und digitalen Charakter der Bank unterstreicht.Abgesehen von den Veränderungen in der Rangliste ist das Wachstum des Internettraffics für das gesamte Panel positiv (+10 % mit fast 590 Millionen monatlichen Besuchern), und die Leistungen der verschiedenen E-Banking-Plattformen haben sich erheblich verbessert. Dies spiegelt sich auch in einem stärkeren Engagement des Publikums wider (+17 %).Dennoch haben die untersuchten Banken bei der Digitalisierung noch einen weiten Weg vor sich, insbesondere was die Beherrschung des digitalen Marketings und der Verwaltung mobiler Apps betrifft, wo nur langsam Fortschritte erzielt werden. Lombard Odier und Vontobel zeichnen sich jedoch durch eine regelmässig aktualisierte und gut bewertete App aus, und neue Marktteilnehmer wie Alpian bieten moderne Funktionen wie In-App-Videoanrufe an.Soziale Netzwerke: Eine neue Ära hat begonnenWährend die Zahl der Abonnenten in den sozialen Netzwerken im Jahr 2023 stabil blieb, verzeichnet die Studie in diesem Jahr ein Wachstum von 32 %. Die bei Facebook festgestellte Verlangsamung (+9 %) wurde durch LinkedIn (+42 %, das 77 % des gesamten Publikums der sozialen Netzwerke erreicht) mehr als wettgemacht, gefolgt von YouTube und Instagram (+20 % und +17 %). Dagegen scheint X (ehemals Twitter) nicht mehr attraktiv zu sein (+0,2 %).Im Jahr 2024 zog das Aufkommen von Videoinhalten, in denen die Überzeugungen der Banken in Bezug auf Marktvisionen und Investitionen dargestellt werden, ein neues Publikum auf diese Medienplattformen an. Insgesamt blieben CSR (Corporate Social Responsibility) und ESG (Environmental, Social and Governance) auch in diesem Jahr die meist behandelten Themen dieser Inhalte.Die Studie stellt auch Kommunikationsbemühungen zu gestellschaftlichen Themen fest, insbesodere zum Sport oder zu gemeinnützigen Engagements. Obwohl diese Art der Information ein neues Publikum anspricht, erzeugt sie nur wenig Engagement und fördert nicht den Austausch mit ihren Zielgruppen.„Digitale Verantwortung: Im Rückstand?In den letzten Jahren haben die Privatbanken begonnen, ESG-Kriterien zu berücksichtigen, und die nachhaltige Entwicklung ist zu einem wichtigen Aspekt der Bankprodukte, insbesondere der Fonds, geworden.Banken sind endlich bereit, ihre Instrumente den Kunden zur Verfügung zu stellenDie Anbieter digitaler Lösungen haben dieses Konzept verstanden und bieten nun B2B2C-Tools an, die die Banken für ihre eigenen Konten nutzen und ihren Kunden zur Verfügung stellen können (Online-KYC [Know-Your-Customer], elektronische Unterschrift, Portfoliosimulation und Auswirkungsanalyse, Auftragserteilung).Neue Technologien und Private Banking: Auf dem Weg zu präziseren und personalisierten EmpfehlungenPrivate-Banking-Berater profitieren stark von neuen Technologien, die die Art und Weise, wie sie mit ihren Kunden interagieren und deren Portfolios verwalten, revolutionieren. Mit Hilfe von Instrumenten wie Portfoliomanagementdiensten, Software für das Kundenbeziehungsmanagement, E-Banking und generativer künstlicher Intelligenz können sie genauere und individuellere Empfehlungen aussprechen und anbieten.Diese Technologien ermöglichen ein besseres Verständnis der Kunden (z. B. AirWealth von Avaloq), verbesserte Bankdienstleistungen, insbesondere in den Bereichen Simulation und Portfoliomanagement (z. B. Swissquant), sowie schnellere und bessere Reaktionen sowohl intern als auch extern. Die Einführung dieser neuen Technologien ist jedoch mit einigen Hürden verbunden, wie die Weitergabe von Kundendaten mittels Tools von Drittanbietern, das Bankkundengeheimnis zu wahren und den Wandel innerhalb der Finanzinstitute zu bewältigen.Private Banking und KI: Auf dem Weg in einer neue Ära der Effizienz und ComplianceIm vergangenen Jahr haben viele Banken KI-Initiativen lanciert, die sich in unterschiedlichem Ausmass auf ihre operative Leistung auswirken. Mit der Einführung von One.chat, einer mit dem Zürcher Startup Unique entwickelten Lösung zur Optimierung der Produktivität, oder der Lancierung eines KI-basierten Fonds zur Erzielung einer Outperformance ist Pictet der Konkurrenz einen Schritt voraus. Diese Anwendungsfälle zeigen, dass die Banken die KI für ihre internen Prozesse nutzen. Derzeit gibt es noch keine Initiativen, die sich mit Kundendaten befassen, was zeigt, dass die Schweizer Privatbanken nach wie vor um die Vertraulichkeit besorgt sind.Digitaler Index : Die globale digitale Performance der BrancheColombus Consulting präsentiert das globale Ranking des digitalen Index, welcher die digitale 360°-Performance von Privatbanken anhand von 50 Indikatoren (Web, Mobile, Marketing und Social), misst. Die Ergebnisse zeigen sehr unterschiedliche Situationen zwischen den Akteuren.Get the hottest Fintech Switzerland News once a month in your Inbox]]></description><link>https://fintechnews.eu/studie-die-digitalsten-privatbanken-in-der-schweiz-noch-nicht-im-ki-fieber</link><guid>3667</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Studie: Die Digitalsten Privatbanken in der Schweiz noch nicht im KI Fieber</dc:text></item><item><title>Bitpanda Expands Partnership With Deutsche Bank</title><description><![CDATA[

		
				
		
	
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Austrian Fintech unicorn Bitpanda is expanding its partnership with Deutsche Bank to provide real-time payment solutions for incoming and outgoing transactions for users in Germany.
This API-based account solution will provide Bitpanda with access to German IBANs, streamlining and enhancing the experience for users and ensuring confidence, speed and efficiency.&#13;
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Deutsche Bank already supports the operational needs of Bitpanda as its European Hausbank for cross-currency solutions in Austria and Spain.
Bitpanda is a regulated multi-asset broker platform offering more than 2,800 selected virtual assets and indices as well as stocks, ETFs and commodities to retail investors. Deutsche Bank represents another major institutional partnership for Bitpanda, who are currently undergoing a period of significant growth. Cooperation with traditional financial services providers is a strategic goal throughout 2024 for the unicorn, which believes that such integration will shape the future of the financial services industry.
Lukas Enzersdorfer-Konrad
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, commented:
“Bringing the best parts of the industry together is where we can create real value for people. Deutsche Bank’s commitment to working with new and innovative players in the financial industry continues to make our partnership possible. From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users.”
Kilian Thalhammer
Kilian Thalhammer, Global Head of Merchant Solutions, Deutsche Bank, added:
“We are always looking to partner with companies who share our commitment to user safety and security. With Bitpanda, a recognised and regulated fintech provider, we are confident to help build a secure and trusted environment for users in this innovative field of virtual asset investing. With our strategy to be the bank of choice for the high-potential platforms, the partnership with Bitpanda represents a key milestone as we shape this emerging ecosystem through active engagement with leading industry players.”

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	]]></description><link>https://fintechnews.eu/bitpanda-expands-partnership-with-deutsche-bank</link><guid>3663</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Bitpanda Expands Partnership With Deutsche Bank</dc:text></item><item><title>Money20/20 Europe Crowns 6 Fintech Startups</title><description><![CDATA[

		
				
		
	
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Money20/20 Europa has unveiled six startups that are poised to transform the world of money.
The selected startups are Flexvelop, Brite Payments, Kore Labs, Nomyx, Velexa, and NALA. The emerging startups were unveiled during Money20/20 Europe’s Startup Media Session on June 5th at the RAI in Amsterdam.&#13;
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Money20/20 Europe brings together the most influential figures in the fintech and financial services landscape, unlocking growth opportunities for these startups to transform into industry heavy hitters.
Scarlett Sieber
“Startups have always been at the heart of Money20/20. It has been a real pleasure seeing the early-stage startups begin on our stages before maturing into some of the biggest players in the industry. As the world of money comes together for Money20/20 Europe, we are delighted to showcase startups that we believe will change the future of money, covering the entire gamut of the ecosystem from regulations to infrastructure. It’s a core mission for Money20/20 to identify, support, and elevate startups and we couldn’t be more proud to provide a platform for these handpicked businesses as they continue their growth journey,”
said Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20.
The six crowned fintech startups are:
Flexvelop is a German flexible financing solution for business equipment, enabling companies to lease technology and purchase it at a reduced price. Thanks to this flexible leasing, rental, and credit model, businesses can trial different equipment to see what best suits their needs, better react to market shifts, and find more cost-effective solutions tailored to them.
Brite Payments is a Swedish instant payments startup offering smarter, faster, and more financially sustainable ways for payments and payouts thanks to open banking. Their technology allows funds to be transferred immediately and seamlessly with bank-grade security, minimizing risk for merchants and creating a hassle-free payment experience for consumers.
Kore Labs is a UK-based, award-winning RegTech startup digitizing financial product management to reduce regulatory risks, costs, and time to market for financial products. Kore serves a wide range of financial institutions, including major European banks, investment managers, and insurance companies.
Nomyx is an American Web3 and AI tokenization startup enabling companies to transform traditional assets into digital tokens in a seamless, secure, and transparent manner. Businesses can tokenize a wide range of assets with Nomyx, such as traditional financial assets, real estate properties, art pieces, company shares, intellectual property rights, and collectibles. Nomyx unlocks liquidity for businesses and provides them with increased flexibility with portfolio management.
Velexa is a London-based white-label API-based investing platform offering global market access across all major asset classes and currencies. Velexa is the only multi-asset platform that offers a cutting-edge B2B2C WealthTech technology that empowers banks, brokers, wealth managers, and other institutions to embed investing services in their portfolios, delivering a unified personal finance experience for their end users, ultimately making finance less intimidating. In this way, Velexa aims to revolutionize financial literacy and wealth management across Europe.
NALA is an international money transfer app enabling individuals (nala.com) and businesses (rafiki.com) in the EU, US, and the UK to send money to 11 countries in Africa. Payments to Africa are significantly more expensive than payments to any other continent; NALA was built to reduce those fees through fast, reliable, and affordable cross-border payments. NALA has grown 29x in the past 20 months. Earlier this year, NALA turned profitable and achieved 10X revenue growth in the past 12 months. Their team grew from 7 to nearly 100 in this same time period.
Money20/20’s Startup Media Session was designed as part of its goal to support startups sitting at the intersection of finance and technology. Last year’s winners included Net Purpose, Clima Cash, Eljun, GoKind, KYP, Zing, and Conduit, among others.


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	]]></description><link>https://fintechnews.eu/money2020-europe-crowns-6-fintech-startups</link><guid>3664</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Money20/20 Europe Crowns 6 Fintech Startups</dc:text></item><item><title>Avaloq beteiligt sich an Kaspar&amp; CHF 2.5 Millionen Seed-Finanzierungsrunde</title><description><![CDATA[

		
				
		
	
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Das Schweizer Fintech-Unternehmen Kaspar&amp; hat eine Seed-Finanzierungsrunde über CHF 2.5 Millionen abgeschlossen und geht eine strategische Partnerschaft mit Avaloq ein.
Im Rahmen der neuen Partnerschaft hat Avaloq eine Minderheitsbeteiligung an Kaspar&amp; erworben und plant, die Investment-App des Unternehmens in die Avaloq Core Platform zu integrieren. Damit können Banken, die die Plattform von Avaloq in der Schweiz nutzen, ihrer Kundschaft einfacher zugängliche Anlagemöglichkeiten bieten.&#13;
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Kaspar&amp; wurde 2020 als Spin-off der Universität St. Gallen und der ETH Zürich gegründet. Das Unternehmen bietet Zugang zu Bankkonten und Zahlungsdienstleistungen sowie eine App für kostengünstige Investments. Die innovativen Anlagemöglichkeiten von Kaspar&amp; umfassen eine Save-as-you-spend-Lösung, die Kreditkarteneinkäufe aufrundet und die Differenz in Indexfonds und ETFs investiert. Das erleichtert es Schweizer Konsumentinnen und Konsumenten, erste Anlageerfahrungen zu sammeln und langfristig Vermögen aufzubauen.
Mit der Partnerschaft unterstreicht Avaloq das Bekenntnis zu Innovation und einem niederschwelligen Zugang zur Vermögensverwaltung. Durch die einfache Integration ins Kernbankensystem von Avaloq können Finanzinstitute in der ganzen Schweiz die Investment-App von Kaspar&amp; rasch für ihre Retailkunden und vermögende Privatkundschaft verfügbar machen.
Martin Greweldinger
Martin Greweldinger, CEO von Avaloq, dazu:
«Wir sind stolz auf unsere Innovationskraft und unser solides Netz an Fintech-Partnern. Mit unserer Beteiligung an Kaspar&amp; würdigen wir das Potenzial des Unternehmens, das Anlageverhalten im Schweizer Retail-Markt zu revolutionieren. Kaspar&amp; bietet seiner Kundschaft nicht nur automatisierte, kostengünstige Anlagelösungen, mit der intuitiven Benutzeroberfläche erleichtert die App ihren Nutzerinnen und Nutzern auch erste Anlageerfahrungen. Durch die vollständige Integration der App in unser Kernbankensystem fördern wir das Wachstum von Kaspar&amp; und ermöglichen es Finanzinstituten, die die Avaloq Plattform in der Schweiz nutzen, ihren Kundinnen und Kunden Zugang zu dieser innovativen Anlageplattform zu gewähren.»
Für Kaspar&amp; stellen die Partnerschaft und der Abschluss der Seed-Finanzierung wichtige Pfeiler des künftigen Unternehmenswachstums dar. Angeführt von Avaloq sind noch weitere Minderheitsinvestoren wie die Basellandschaftliche Kantonalbank (BLKB) sowie institutionelle Anleger und Business Angels an der Finanzierungsrunde beteiligt.
Jan-Philip Schade
Jan-Philip Schade, Mitbegründer und CEO von Kaspar&amp;, dazu:
«Mit der strategischen Partnerschaft mit Avaloq schreiben wir ein neues Kapitel unserer Unternehmensgeschichte. Die Beteiligung eines wichtigen Vertreters des Schweizer Finanzmarkts bestätigt das Potenzial unserer Plattform und ermöglicht es uns, den Wachstumskurs von Kaspar&amp; beizubehalten. Ich glaube, dass die Integration der Kaspar&amp;-App ins führende Schweizer Kernbankensystem einen wesentlichen Schritt hin zur verstärkten Zusammenarbeit zwischen Banken und Fintechs darstellt. Wir freuen uns auf den langfristigen Ausbau unserer Partnerschaft mit Avaloq und darauf, Finanzinstitute in der Schweiz bei der Erweiterung ihres Anlageangebots für Retailkunden und ihre vermögende Privatkundschaft zu unterstützen.»

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	]]></description><link>https://fintechnews.eu/avaloq-beteiligt-sich-an-kaspar-chf-25-millionen-seed-finanzierungsrunde</link><guid>3662</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Avaloq beteiligt sich an Kaspar&amp; CHF 2.5 Millionen Seed-Finanzierungsrunde</dc:text></item><item><title>B2B Influencer Marketing Shifts Towards More Interactive and Immersive Collaborations</title><description><![CDATA[

		
				
		
	
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A new research by Onalytica, an influencer marketing software platform, shows that while brands are prioritizing social content for their business-to-business (B2B) influencer marketing strategies, influencers are increasingly engaging in dynamic and interactive brand collaborations, with a strong preference for speaking at in-person events and co-creating content.
This trend highlights a shift towards more immersive and substantive engagements, highlighting a deeper partnership between brands and influencers to attract audience attention across various platforms.&#13;
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The 2024 B2B Influencer Marketing Report reveals that 76% of brand marketers prioritize social content, closely followed by video at 70%. However, influencers are most enthusiastic about speaking at in-person events (71%) and co-creating content in partnership with brands (67%).
Influencer marketing tactics for 2024, Source: 2024 B2B Influencer Marketing Report, Onalytica
How influencers are planning for collaboration in 2024, Source: 2024 B2B Influencer Marketing Report, Onalytica
These figures show a divergence in preferences for engagements, with influencers favoring direct interaction and immediate impact of live events, while brands emphasize digital content, including blogs and videos, to broaden reach and deepen engagement. This reflects strategic opportunities for brands to integrate live influencer engagements with digital content strategies, enhancing both their reach and relationship depth, the report says.
LinkedIn as the top channel
In 2024, the channel preferences of brands and influencers show strategic alignment. Brands and influencers rated LinkedIn as their top channel for 2024, highlighting the platform’s pivotal role in B2B influencer marketing. However, platforms like Instagram and YouTube continue to hold strong appeal, reflecting an ongoing trend towards visual and video-based content for engaging audiences.
However, divergence emerges on platforms like Reddit and Threads, where priorities vary significantly, indicating differences in audience engagement and platform suitability.
Brand and influencer channel prioritization, Source: 2024 B2B Influencer Marketing Report, Onalytica
Data from Onalytica show a clear premium on B2B influencer tasks requiring personal interactions or significant preparation. Speaking at an in-person event costs an average of US$17,000, while authoring an ebook or whitepaper has an average price of US$10,000. Video content, especially long-form, also commands high fees, reflecting its importance and effectiveness in current marketing strategies. Long-form video as part of a series costs an average of US$8,000, the data show.
B2B influencer investment, Source: 2024 B2B Influencer Marketing Report, Onalytica
Towards deeper and more impactful collaborations
The outlook for B2B influencer marketing in 2024 is positive, with 50% of customers planning to invest more or significantly more in B2B influencer marketing this year as businesses increasingly recognize the nuanced value of influencer partnerships.
Onalytica expects companies to forge deeper, more impactful collaborations, emphasizing long-term relationships over one-off campaigns. This commitment underscores a strategic shift towards leveraging authentic voices to amplify brand presence and drive meaningful business outcomes, the report says.
B2B influencer marketing is a strategy where businesses collaborate with industry experts, thought leaders, and influential figures to promote their products, services, or brand to other businesses. This type of marketing leverages the trust, reach, and expertise of industry influencers to connect with targeted business audiences, build credibility, and drive engagement.
The influencer marketing industry is thriving. According to German data platform Statista, the global influencer marketing market is projected to reach US$22.2 billion by 2025, more than double what it was in 2020 (US$9.7 billion).
Research by Ogilvy, an advertising company, reveals that three-quarters of B2B decision-makers around the world currently use influencer marketing. Among those, more than 9 in 10 (93%) are planning to expand their use of influencers.
In the fintech sector, prominent influencers include Jim Marous, a financial industry strategist, co-publisher of The Financial Brand, and one of the most influential people in banking; Oliver Bussmann, a senior technology executive with 30+years of influential leadership with UBS, SAP, Allianz, Deutsche Bank, and IBM; Lex Sokolin, a New York and London entrepreneur with senior operating and board-level experience in blockchain, digital investing, and wealth management; and Efi Pylarinou, an independent fintech and blockchain advisor.

Featured image credit: edited from freepik

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	]]></description><link>https://fintechnews.eu/b2b-influencer-marketing-shifts-towards-more-interactive-and-immersive-collaborations</link><guid>3660</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>B2B Influencer Marketing Shifts Towards More Interactive and Immersive Collaborations</dc:text></item><item><title>EU’s New Open Finance Regulations: Opportunities and Challenges for the Financial Sector</title><description><![CDATA[

		
				
		
	
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New regulations in the European Union (EU) concerning payments and financial data access are laying the groundwork for open finance.
Though these initiatives aim to foster innovation and improve customer experiences in the financial services sector, they may also pose complex and costly implementation challenges to the sector, according to a note by the Institute of International Finance (IIF) released on May 22, 2024.&#13;
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The note, released on May 22, examines the recent regulatory changes in the EU’s data-sharing landscape, focusing on the impact of new open finance rules on financial institutions.
A major highlight is the European Commission (EC)’s financial data access and payments package, released in June 2023. The package comprises proposals for a revised Payment Services Directive (PSD3), a new Payment Services Regulation (PSR), and a proposed Financial Data Access Regulation (FIDA). These proposals are designed to expand data access beyond payments, improve fraud prevention, and set the foundation for open finance.
Payment innovation and fraud prevention
The PSD3 and PSR are intended to replace and modernize the current Payment Services Directive or PSD2. Their objectives include combating fraud, enhancing customer rights, improving access to bank accounts for non-banking players, and ultimately facilitate open finance.
The European Parliament voted in favor of both the PSD3 and PSR on April 23, 2024, marking a significant step forward in shaping the future of open finance in the EU. It proposed several changes to the texts primarily to improv fraud prevention. These changes include:

Strengthening consumer protection amid booming fraud activity;
Promoting innovation through new payment services, risk-based strong customer authentication (SCA) and interoperability;
Increasing transparency and user control over data sharing;
Improving fraud data sharing through a dedicated IT platform overseen by the European Banking Authority (EBA); and
Clarifying the regulations’ scopes regarding electronic money tokens, location-based discrimination, and direct debit refunds.

The EBA responded only a few days after the Parliament’s vote, formulating on April 29, 2024 specific suggestions for further amendments to the PSD3 and PSR texts such as requiring two different SCA factors, mandating comprehensive fraud risk management frameworks, and ensuring pre-execution transaction monitoring for instant payments.
Finalized versions of PSD3 and PSR are now expected by late 2024, with potential implementation around 2026, expects Sia Partners, a consulting firm.
Giving customers more control over their data
The FIDA, meanwhile, is intended to establish clear rights and obligations to manage customer data sharing in the financial sector, giving customers control over their data and allowing third parties access to a wide range of financial information. This includes data on mortgages, loans, savings, investments, insurance, pensions, and creditworthiness assessments.
Proposals under the FIDA include requirements for financial institutions to provide data access to other institutions or fintech firms, subject to customer permission. Customers will have full control over who accesses their data and for what purpose, enhancing trust in data sharing. Additionally, data holders and users will need to join Financial Data Sharing Schemes (FDSS), which will govern data access in line with FIDA and other EU regulations.
FIDA was voted on at the European Parliament’s Economic and Monetary Affairs Committee on April 18, 2024. However, industry experts do not expect FIDA to be finalized before 2025.
Impact on financial institutions
According to the IIF, the PSD3, PSR and FIDA present opportunities for the financial services industry to collaborate with new players in the ecosystem to develop innovative, value-added products and services and improve customer experiences.
However, the trade association highlights the significant challenges financial institutions may face in implementing these challenges. In particular, it notes that meeting the real-time data sharing requirements under FIDA may prove technically challenging and costly for data holders.
Moreover, industry stakeholders remain skeptical of the expected benefits of new regulations. A 2023 research by the EC examined the application and impact of PSD2, and found that the costs of implementing PSD2, particularly for API development (estimated at EUR 3.2 billion) and SCA rollout (estimated at ~ EUR 5 billion, were substantial. An overwhelming majority of banks and associations consulted for the study suggested that these costs largely outweigh the benefits to them.

Featured image credit: edited from freepik

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	]]></description><link>https://fintechnews.eu/eus-new-open-finance-regulations-opportunities-and-challenges-for-the-financial-sector</link><guid>3661</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>EU’s New Open Finance Regulations: Opportunities and Challenges for the Financial Sector</dc:text></item><item><title>Private Equity Firms Set Sights on Middle-Market Fintech and Payment Companies</title><description><![CDATA[

		
				
		Middle-market fintech and payment companies are gaining significance within the broader fintech mergers and acquisitions (M&amp;A) landscape, attracting attention from private equity (PE) firms for their strong growth potential, stable profits margins, and solid customer bases, a new analyst note by private market data provider PitchBook says.
Middle-market fintech firms fall between small, early-stage startups and large, established corporations in terms of size and maturity. These companies target mid-sized businesses or consumers, and often specialize in specific products or services tailored to their target audience. They typically generate moderate revenue and hold moderate market presence compared to larger fintech players but still represent a significant portion of the overall fintech ecosystem.
According to the PitchBook note, middle-market fintech companies are increasingly appealing to larger firms, especially given the relative ease of financing and executing deals in this space. These companies have also shown strong performance amid high inflation, making them attractive targets for investment.&#13;
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In Q1 2024, PitchBook recorded 16 fintech PE buyouts, a notable increase compared to 11 in Q1 2023, to 2023’s average of 11 buyouts per quarter, and to H2 2022’s average of 14 per quarter. Among these transactions, payments companies accounted for the majority at 38%, continuing a trend observed over at least the past four years. Enterprise payment had been the top segment for PE buyout over the prior 12 months (27%), as well as over the last four years (26%), the note says.
Quarterly enterprise fintech PE buyout deal activity, Source: Q1 2024 Fintech M&amp;A Review, PitchBook, May 2024
According to PitchBook, payment companies are particularly attractive targets because of their ability to withstand inflation and maintain steady revenue streams. These companies provide a service that nearly everyone needs and benefit from robust consumer and business spending. Unlike software-as-a-service (SaaS) businesses, payment companies charge customers based on a percentage of each transaction rather than a fixed annual contract price. This model shields them from the negative impacts of inflation and may even offer some advantages in such economic conditions, the note says.
Additionally, PitchBook emphasizes that industry-specific payment tools, combined with workflow software, can generate the kind of revenue growth and margin that create attractive buyout returns. One such example is the acquisition of Jobox.ai by Talus Pay, a provider of payment processing solutions for small and mid-sized merchants that’s owned by Alvarez and Marsal Capital. Jobox.ai specializes in home services payments and workflow software. This acquisition complements Talus Pay’s existing focus areas, including healthcare, retail, restaurants, manufacturing, and government.
Another example is the acquisition of MuniciPAY by Autoagent Data Solutions in January. MuniciPAY operates as a citizen payment gateway for municipalities. Autoagent Data Solutions, known for its escrow tax and government payment processing services, acquired MuniciPay to expand its citizen payment gateway, allowing local governments to consolidate their incoming revenue in one place.
According to the note, these companies, which combine payments and software, have a competitive advantage that is hard for others to penetrate, along with a loyal customer base, making them attractive targets.
Fintech M&amp;A activity sees rebound
Delving into corporate acquisition patterns, the PitchBook note highlights a rebound in activity this year. In Q1 2024, corporate acquisitions reached 18 deals, up from a four-year low of 14 in Q4 2023.
During the quarter, the increase in corporate M&amp;A was largely driven by a more positive outlook among executive leadership teams. Until recently, corporate leaders faced challenges related to slowing revenue growth due to waning stimulus. They also expected a recession due to rate hikes and an inverted yield curve. However, the ecosystem surpassed expectations, the report says.
The quarter also witnessed large financial companies actively acquiring fintech companies to add new products and improve existing offerings. JP Morgan, for example, purchased LayerOne Financial in March to improve its offerings for hedge funds. With the deal, clients of JP Morgan’s wholly-owned subsidiary Neovest will be able to monitor their portfolios, conduct risk assessments, send orders to their brokers and perform compliance checks all from one platform, the companies said in a statement.
In Q1 2024, corporate acquisitions in North America were concentrated in New York, San Francisco, and other major cities, the note says. Many of these deals involved small businesses with five to 20 employees, indicating that corporates continue to acquire for talent and technology. Top segments by deal count were capital markets (23%), CFO software (18%) and financial services infrastructure (18%).
Globally, the total value of fintech M&amp;A deals announced in Q1 2024 reached its highest level since Q4 2021, totaling US$75.7 billion across 282 transactions, data from Financial Technology Partners, an investment banking firm focused on fintech, show. Although the number of deals decreased 11% compared to Q1 2023, the overall volume increased 7.5 times.
Increased M&amp;A volume was driven by a resurgence in US$1 billion+ M&amp;A deals, which totaled 11 in Q1 2024 compared to only two announced during the same period last year. These large deals included Capital One’s proposed US$35 billion acquisition of Discover Financial Services, KKR’s purchase of a 50% stake in Cotiviti at a US$11 billion valuation, trading platform Webull’s US$7.3 billion merger agreement with special purpose acquisition company (SPAC) SK Growth Opportunities, and Nationwide Building Society’s US$3.7 billion acquisition of Virgin Money.
Global fintech M&amp;A volume – quarterly, Source: Q1 2024 Quarterly Fintech Insights, Financial Technology Partners Research, Apr 2024

This article first appeared on fintechnews.am
Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/private-equity-firms-set-sights-on-middle-market-fintech-and-payment-companies</link><guid>3659</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Private Equity Firms Set Sights on Middle-Market Fintech and Payment Companies</dc:text></item><item><title>Die digitalsten Schweizer Retailbanken im 2024</title><description><![CDATA[

		
				
		Das Institut für Finanzdienstleistungen Zug (IFZ) hat in Zusammenarbeit mit e.foresight zum vierten Mal untersucht, wie hoch der Digitalisierungsgrad von 40 in der Schweiz tätigen Retailbanken und Neobanken im Privatkundengeschäft ist.
Dabei wurden 132 verschiedene Faktoren berücksichtigt, um digitale Funktionalitäten, Dienstleistungen und Produkte zu analysieren. Die Ergebnisse dieser Studie wurden diese Woche auf der IFZ-Konferenz «Innovationen im Banking» präsentiert.
Bewertungen oder auch Aussagen zu «digitalen» oder eben «nicht-digitalen» Schweizer Retailbanken sind oft nicht einfach nachvollziehbar und scheinen manchmal etwas willkürlich. Mit der unten vorgestellten Untersuchung soll durch transparente Kriterien aufgezeigt werden, welche Banken tatsächlich einen höheren oder niedrigeren Digitalisierungsgrad im Privatkundenbereich haben.&#13;


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Vorgehen
Hierfür hat das IFZ gemeinsam mit dem Digital Banking Think Tank e-foresight der Swisscomper April 2024 bei 37 Retailbanken und 3 Neobanken eine Untersuchung durchgeführt. Es wurde analysiert, welche (digitalen) Funktionalitäten, Produkte und Dienstleistungen für Privatkunden angeboten werden (digitale Angebote für Firmenkunden wurden explizit nicht berücksichtigt).
Dadurch soll eine objektiv nachvollziehbare Grundlage für einen Vergleich zwischen den Banken geschaffen werden. Die entsprechende systematische Erfassung von Funktionalitäten, Produkten und Dienstleistungen wurde in zwölf Themenblöcke eingeteilt. In Abbildung 1 sind die zwölf Themenblöcke ersichtlich. Die Anzahl der abgefragten Funktionalitäten pro Block ist jeweils in den Boxen unten rechts ersichtlich.
Die Anzahl der analysierten Elemente in diesem Jahr (132) ist deutlich höher als im Vorjahr (103). Es gab zudem auch einige Veränderungen im Fragebogen. Es wurden 35 neue Funktionen hinzugefügt, während 6 Aspekte nicht mehr berücksichtigt wurden.
Der Hauptgrund für den Wegfall der sechs Funktionalitäten war die Tatsache, dass Banken eine sehr hohe Abdeckung dieser Funktionen aufwiesen (in der Regel boten fast 100% der Banken diese Funktionalitäten an). Daher sind die Ergebnisse dieses Jahres nicht zu 100 Prozent mit denen des Vorjahres vergleichbar.
Abbildung 1: Messkonzept und Anzahl untersuchte Elemente pro Themenblock
Die detaillierte Liste der 132 untersuchten Elemente und auch die einzelnen Gewichtungsfaktoren finden Sie hier.
Der Fokus der Analysen lag wie in den Vorjahren ausschliesslich auf den Verfügbarkeiten von Funktionalitäten. Auf eine Bewertung der Qualität der entsprechenden Angebote wurde verzichtet. Auch eine Bewertung des Nutzererlebnisses («User Experience» UX) wurde in unseren Analysen nicht vorgenommen. Des Weiteren wurden Aspekte wie die Performance von Webseiten oder des E-Bankings oder schwierig messbare Grössen wie die «Digitale Kultur» oder die «Agilität der Organisation» nicht berücksichtigt.
Eine im Vorjahr durchgeführte Umfrage bei gut 1’000 Schweizerinnen und Schweizer hat gezeigt, dass eine möglichst breite Abdeckung von Funktionalitäten aus Sicht der Kundschaft insgesamt als «wichtig» angesehen wird (die aus Kundensicht wichtigen Funktionalitäten finden Sie ebenfalls in diesem Blog-Artikel).
Um den Digitalisierungsgrad im Privatkunden-Geschäft der einzelnen Banken miteinander zu vergleichen, wurden zwei Werte berechnet.

Bei Variante 1 wurden die Anzahl angebotener digitaler Funktionalitäten, Produkte und Dienstleistungen addiert.
Bei Variante 2 wurden die einzelnen Themenblöcke basierend auf unserer Einschätzung unterschiedlich gewichtet. Die Gewichtung hat den Vorteil, dass gewisse Funktionalitäten eine höhere Bedeutung erlangen als andere an sich weniger wichtige Funktionalitäten. Auf der anderen Seite ist die «Wichtigkeit» immer mit unserer subjektiven Einschätzung verbunden. Daher zeigen wir nachfolgend beide Ranglisten auf.

Der Maximalwert beträgt 132 Punkte (ungewichtete Variante) respektive 13.85 Punkte (gewichtete Variante) und wäre erreicht, wenn alle in dieser Studie untersuchten Funktionalitäten, Produkte und Dienstleistungen von einer Bank angeboten würden. Wie schnell ersichtlich wird, ist der überwiegende Teil der Schweizer Banken derzeit noch weit davon entfernt, den Maximalwert zu erreichen.
Welches ist die digitalste Schweizer Retailbank im Privatkundengeschäft? Die Ranglisten
Nachdem im Vorjahr die Migros Bank die UBS vom ersten Platz verdrängt hatte, hat die UBS den Spitzenplatz – unabhängig vom Messansatz – wieder eingenommen (vgl. Abbildung 2). Die Migros Bank liegt aber noch immer auf dem guten zweiten Platz.
Die VZ Depotbank und die Credit Suisse befinden sich auf den Rängen 3 und 4 (abhängig vom Messansatz). Die BCV liegt neu auf dem fünften Rang (ungewichtet; Vorjahr: 6. Rang).
Aufgestiegen ist auch die St. Galler Kantonalbank (von Rang 16 auf Rang 10). Hingegen ist die Raiffeisen-Gruppe weiter zurückgerutscht und liegt nun unabhängig von der Berechnungsmethode auf Rang 9. Des Weiteren hat sich PostFinance wieder etwas nach oben gearbeitet, nachdem sie in den letzten Jahren stetig zurückgerutscht war. Sie liegt in unserem Ranking nun wieder abhängig von der gewählten Methode auf Rang 7 (gewichtet) oder Rang 8 (ungewichtet).
Weiter in den Top 10 befinden sich die Kantonalbanken aus Zürich (ZKB) und Luzern (LUKB). Mit der Valiant Bank und der Hypothekarbank Lenzburg haben es auch zwei Regionalbanken in die Top 15 geschafft.
Wie ersichtlich wird, variieren die einzelnen Ränge zwischen den beiden Messmethoden leicht. Die grundsätzliche Aussagekraft wird durch die Gewichtung der einzelnen Themenblöcke aber nicht bedeutend verändert.
Abbildung 2: Rangliste der digitalsten Retailbanken der Schweiz (linke Tabelle: ohne Gewichtung, rechts: gewichtete Rangliste)
Rankings der einzelnen Kategorien
Wir haben auch verschiedene Sub-Rankings für die oben vorgestellten zwölf Teilbereiche erstellt. Nachfolgend zeigen wir Ihnen einige ausgewählte Erkenntnisse daraus:

In Bezug auf das E-Banking schneiden UBS (Rang 1) und die VZ Depotbank (Rang 2) am besten ab.
Die drei Top Banken im Bereich der Funktionalitäten im Mobile Banking sind die UBS, das VZ und die Luzerner Kantonalbank.
Im Bereich (Digitales) Anlegen und Vorsorgen liegt die Zürcher Kantonalbank an der Spitze vor der VZ Depotbank. PostFinance und UBS folgen (gleichauf) auf dem dritten Rang.
Kombiniert man die Bereiche «Touchpoints» und «Digitalisierungsgrad der Filiale», liegt die UBS an der Spitze vor der Credit Suisse und PostFinance (beide sind gleichauf).

Generelle Entwicklungen
35 der 40 untersuchten Banken nahmen bereits im Vorjahr teil. Die nachfolgenden Ergebnisse beziehen sich auf die Entwicklung dieser 35 Banken.

Im Vergleich zum Vorjahr werden durchschnittlich 14.3 Prozent mehr Funktionen angeboten
In die Bereiche „Anlegen und Vorsorgen“ wurde besonders stark investiert (u.a. Handel und Verwahrung von Kryptowährungen)
In den Bereich „Konto, Karten und Zahlen“ wurde am wenigsten investiert
31 der 35 untersuchten Banken haben sich gegenüber dem Vorjahr verbessert
Eine deutliche Verbesserung von zusätzlichen 10 Funktionen/Angeboten gegenüber dem Vorjahr konnte man bei den folgenden Banken (und in dieser Reihenfolge) feststellen: St. Galler KB, Valiant Holding, Aargauische KB, BC de Genève, Zürcher KB, Berner KB, PostFinance, UBS, BC Vaudoise, Glarner KB, Schwyzer KB
Im Vergleich zum Vorjahr ist es deutlich verbreiteter geworden, Devicedaten an den Support zu übermitteln (+9 Banken bieten diese Funktion an), virtuelle Sub-Konten im E-Banking (+7 Banken) und im Mobile Banking (+6 Banken) zu erstellen, mit einem Chatbot auf der Webseite zu kommunizieren (+6 Banken) sowie als Kunde selbst mit Kryptowährungen direkt im E- und M-Banking zu handeln (+5 Banken)
Aktuell sind nur wenige Banken mit folgenden Funktionen ausgestattet: Online-Leasing; Fraktionshandel von Aktien; Multibanking-Lösung (Retailbanking); Elektronisches Schliessfach für persönliche Dateien des Kunden; Voice-Bot für Bankanwendungen; Stimm- und Spracherkennungssoftware; ein digitaler Vorsorgeauftrag-Konfigurator; Digitaler Handel von physischem Gold; Social Trading Angebote; digitales Archiv für Bankverträge; Neuabschluss von Hypotheken im Mobile Banking

Fazit
Vor dem Hintergrund der aufgezeigten Resultate können folgende Konklusionen gezogen werden:

Es bestehen nach wie vor erhebliche Unterschiede zwischen den Banken hinsichtlich der Abdeckung von Funktionen. Die Bandbreite reicht von 17 bis 102.75 Punkten, wobei 22 der untersuchten 40 Banken weniger als die Hälfte der Funktionen der UBS anbieten. Insgesamt besteht weiterhin erhebliches Verbesserungspotenzial.
Die Schweizer Banken sind aber keineswegs untätig. Fast alle erweitern ihre Funktionalitäten in verschiedenen Dienstleistungsbereichen. Im Jahr 2023 wurden dabei, hinsichtlich der Anzahl der angebotenen Funktionen, mehr Fortschritte erzielt als im Vorjahr.
Obschon heute viele Banken eine „Mobile First“ Strategie fahren, zeigt die Studie, dass der angebotene Funktionsumfang im Mobile Banking demjenigen im E-Banking weiterhin hinterherhinkt (d.h. verschiedene Angebote sind teilweise „nur“ im E-Banking verfügbar). Vor allem kleine Banken setzen weiterhin vermehrt auf E-Banking anstatt auf Mobile Banking.
Es besteht eine positive Korrelation zwischen der Unternehmensgrösse (gemessen anhand der Bilanzsumme) und dem Grad der Digitalisierung.



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	]]></description><link>https://fintechnews.eu/die-digitalsten-schweizer-retailbanken-im-2024</link><guid>3658</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Die digitalsten Schweizer Retailbanken im 2024</dc:text></item><item><title>Leonteq Joins Neon’s Free Investment Plan</title><description><![CDATA[
									
					
							
					Leonteq announced the launch of a collaboration with neon under which neon will offer the ETP+ on the FuW Swiss 50 Index NTR to their clients as part of the recently launched investment plan without purchase or deposit fees.
As a challenger of traditional Swiss banking, neon offers a user-friendly account and investment solution as an app for all smartphones.
The collaboration between neon and Leonteq aims to address a new growth market for investment plans in Switzerland. In this context, Leonteq recently launched a dedicated ETP+ on the FuW Swiss 50 Index NTR to enable monthly investments by neon customers in small sizes.&#13;


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Alessandro Ricci
Alessandro Ricci, Head Investment Solutions of Leonteq, stated:
“Our shared goal with neon is to simplify the investment process for retail investors. Together with this fast-growing fintech company, we provide easy and affordable access to a straightforward investment solution that delivers enhanced investor safety through the ETP+ wrapper.”
Timo Hegnauer
Timo Hegnauer, Head of Trading of neon added:
“We are excited to also challenge the Swiss retail market for investment plans together with well-established partners like Leonteq. As a leading financial technology company, Leonteq brings their expertise as well as their innovative products to neon invest. We are dedicated to removing barriers to investing: By offering our customers the opportunity to buy the FuW Swiss 50 Index NTR with 0% trading fees as part of the new neon investment plan, our cooperation with Leonteq extends our selection of assets with 0% purchase fees with a product that focuses on Switzerland.”
About ETP+ on FuW Swiss 50 index
The FuW Swiss 50 Index NTR is developed by the editorial team of Finanz und Wirtschaft (FuW) and includes the top 50 tradable Swiss companies. Every six months, the companies in the index are selected according to their free float market capitalization and considering minimum liquidity requirements. The top 25 companies are double-weighted, while the remaining 25 companies are single-weighted, resulting in a broader diversification compared to market capitalization weighted indices. The recently launched ETP+ on the FuW Swiss 50 Index NTR is listed on BX Swiss.


Featured image credit: edited from freepik


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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/leonteq-joins-neons-free-investment-plan</link><guid>3655</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Leonteq Joins Neon’s Free Investment Plan</dc:text></item><item><title>Maerki Baumann Cooperates With Bitcoin Suisse</title><description><![CDATA[
									
					
							
					The Zurich-based private bank Maerki Baumann has entered into a cooperation with Bitcoin Suisse.
The collaboration will allow the private bank to utilize the proven crypto expertise of Bitcoin Suisse in managing its crypto investment solutions, and to expand its existing offering in the area of digital assets under the “ARCHIP” brand.
The cooperation is to be integrated into Maerki Baumann’s investment process via the “Joint Crypto Advisory Board”. Clients of Bitcoin Suisse will gain access to first-class private banking services for traditional assets. Maerki Baumann’s longstanding experience in serving clients with a crypto background makes the private bank Bitcoin Suisse’s preferred partner for traditional investments.&#13;


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Bitcoin Suisse, Switzerland’s leading crypto financial services provider, and the Zurich-based private bank Maerki Baumann &amp; Co. Ltd. have entered into a cooperation. While Bitcoin Suisse will contribute its crypto-related expertise, Maerki Baumann will provide access to its experience in the realm of private banking.
Stephan Zwahlen
Stephan A. Zwahlen, CEO of Maerki Baumann, is convinced of the cooperation’s merits:
“The collaboration between Bitcoin Suisse and Maerki Baumann reinforces our strengths by allowing both companies to focus on their core competencies. This is for the benefit of our clients as well as for those of Bitcoin Suisse.”
Luzius Meisser
Luzius Meisser, Chairman of the Board of Directors of Bitcoin Suisse, expressed his enthusiasm about the new arrangement:
“Together, we create a robust bridge in both directions, enabling crypto natives and traditional investors alike to diversify their portfolios across a wider spectrum of assets with the guidance of relevant experts.”
Since March 2024, Maerki Baumann has bundled its offering in the area of digital assets under the new “ARCHIP” brand. As part of its collaboration with Bitcoin Suisse, Maerki Baumann will draw on its many years of experience as a private bank in serving private and institutional clients as well as corporate clients with a crypto background.
The clients of Maerki Baumann will benefit from the cooperation, as it will enable the private bank to leverage the proven crypto expertise of Bitcoin Suisse in managing its digital assets investment solutions.

Featured image credit: Stephan A. Zwahlen, CEO of Maerki Baumann and Luzius Meisser, Chairman of the Board of Directors of Bitcoin Suisse, edited from Linkedin


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	]]></description><link>https://fintechnews.eu/maerki-baumann-cooperates-with-bitcoin-suisse</link><guid>3656</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Maerki Baumann Cooperates With Bitcoin Suisse</dc:text></item><item><title>Robinhood to Acquire Bitstamp For $200 Million in Cash</title><description><![CDATA[
									
					
							
					Robinhood has entered into an agreement to acquire Bitstamp, a global cryptocurrency exchange. Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
Acquiring a global exchange will significantly accelerate Robinhood Crypto’s expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US and Asia to Robinhood.
This acquisition will introduce Robinhood’s first institutional business. Bitstamp has been trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity. With Bitstamp’s other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products. Bitstamp’s core spot exchange, with over 85 tradable assets, and products like staking and lending, will enhance Robinhood’s Crypto offering.&#13;


&#13;

Johann Kerbrat
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors,”
said Johann Kerbrat, General Manager of Robinhood Crypto.
“Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
JB Graftieaux
“As the world’s longest running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide,”
said JB Graftieaux, CEO of Bitstamp.
“Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity.”
Bitstamp’s team will join forces with Robinhood, fostering collaboration, innovation, and knowledge sharing across continents. Robinhood and Bitstamp customers can expect the same level of service, security and reliability and as we move forward, we are committed to maintaining transparency throughout this process.
Robinhood expects the final deal consideration to be approximately $200 million in cash, subject to customary purchase price adjustments. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.
Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/robinhood-to-acquire-bitstamp-for-200-million-in-cash</link><guid>3657</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Robinhood to Acquire Bitstamp For $200 Million in Cash</dc:text></item><item><title>HPS Acquires Irish Digital Banking Software Provider CR2</title><description><![CDATA[
									
					
							
					HPS announced that it has agreed to acquire CR2, a prominent digital banking and payments software company headquartered in Dublin, Ireland.
This strategic transaction underscores HPS‘s commitment to enhancing its digital banking and payments capabilities.
CR2, with offices in Dublin, Dubai, Jordan, India and Australia, is renowned for its innovative digital banking and payments solutions. Through its flagship platform, BankWorld, CR2 powers 90+ banks across more than 50 countries, offering a comprehensive suite of digital banking, digital wallet and payment functionalities. In addition, CR2’s Partner Ecosystem combines the confidence of BankWorld with access to easy plug-in third-party fintech innovations.&#13;


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HPS views CR2’s business as highly attractive and aligned with HPS’s AccelR8 strategic growth plan. HPS believes there is strategic synergy between the two businesses, and that the parties’ respective complementary software and capabilities will help existing and new customers address their increasingly complex challenges. The transaction also consolidates HPS’s position as a leader in the African market thanks to its presence in the French-speaking regions, to be complemented by CR2’s strength in English-speaking Africa and Australia.
The acquisition marks an important strategic milestone in HPS’s growth journey as it continues to execute on its AccelR8 strategic plan. CR2 is expected to contribute materially to HPS’s financial performance by delivering new potential revenue opportunities in complementary markets. In addition, combining CR2’s digital banking solutions with PowerCARD will enable HPS to strengthen its value proposition with current and new customers. The transaction is expected to be EPS accretive in the first year following completion, reflecting synergies expected to be realised. In the 12 months to June 2023, CR2 generated revenues of €23.8 million.
Building on its successful acquisitive track-record, including the switching activity in Morocco and the recent acquisitions of IPRC and ICPS, HPS continues to expand its global presence and strengthen its position as a leading consolidator in the global payment industry.
As we embark on this new chapter of growth and innovation, HPS remains committed to delivering excellence in digital payments, while upholding the highest standards of integrity and customer service.
Abdeslam Alaoui Smaili
Commenting on the acquisition, Abdeslam Alaoui Smaili, Co-Founder and CEO of HPS, said:
“Today marks a significant milestone in the continued growth of HPS. CR2 has a differentiated and exciting capability set, which is a strong fit for HPS and adds significant depth and breadth to our platform. Both companies share a common passion for excellence in digital payments and for providing high-value solutions to customers. With similar cultures valuing customer focus and high performance, we believe that HPS will be an excellent home for CR2 to thrive and deliver long term growth. On behalf of the HPS board, I look forward to welcoming all our CR2 colleagues as we join forces to build upon our strong momentum going forward.”
Fintan Byrne
Fintan Byrne, CEO of CR2 commented
“We are pleased to be joining Abdeslam and the team at HPS. Together, we share a wealth of experience, a passion for innovation and a relentless focus on customer success. This transaction is a recognition of what the team in CR2 have created and the opportunity within our business for future growth. Importantly, it aligns with our continued international scale ambition. With additional scale comes even more opportunity to invest and innovate. This is an exciting time to be in the digital banking and payments technology sector. Together, we look forward to continuously delivering for customers and all stakeholders with confidence.”
Evercore is serving as exclusive financial adviser to HPS. Norton Rose Fulbright and Matheson LLP are serving as legal advisers to HPS. The terms of the acquisition are not being disclosed. The transaction is subject to customary regulatory conditions and is expected to close in the coming months.

Featured image credit: edited from Unsplash


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	]]></description><link>https://fintechnews.eu/hps-acquires-irish-digital-banking-software-provider-cr2</link><guid>3654</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>HPS Acquires Irish Digital Banking Software Provider CR2</dc:text></item><item><title>2024 Shows Signs of Improvements for Established European Fintech Firms</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 31, 2024
																				





					
					
							
					Established European fintech firms are experiencing some relief this year following a challenging 2023.
Last year, venture-growth companies faced difficulties due to several factors, including the withdrawal of tourist investors, increased volatility, lower returns, and weak public market valuations. However, 2024 is showing signs of improvements, with deal values and valuations increasing significantly Q1 2024, data newly released by PitchBook show.
The figures, shared in the “Q1 2024 European VC Valuations Report”, reveal a positive note in European venture-growth valuations this year, with median venture capital (VC) deal values in the stage increasing significantly to EUR 9.3 million in Q1 2024, compared with EUR 6.0 million last year. Valuations also displayed signs of uptick, increasing 4.5% to EUR 21.7 million.&#13;


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Venture-growth VC pre-money valuation (EUR million) and deal value (EUR million), Source: Q1 2024 European VC Valuations Report, PitchBook, May 2024
According to PitchBook, this rise was likely helped by the rally public equity valuations have seen since January 2024, providing more favorable comparables. Notably, prominent venture-growth fintech companies such as Klarna and Monzo have achieved higher implied valuations recently.
Klarna, the Swedish fintech company once crowned as Europe’s most valuable startup, is reportedly in discussions with banks for a potential US initial public offering (IPO) as early as Q3 2024, with an expected valuation of US$20 billion. The company, known for its buy now, pay later (BNPL) services, was last valued at US$6.7 billion after US$800 million fundraise in 2022. It had reached a staggering US$45.6 billion valuation in a 2021 round.
Monzo, a digital bank from the UK serving nine million customers, raised a US$430 million round in March 2024, giving it a post-money valuation of US$5 billion. The company, which said it became profitable in March 2023, said it would use the funds to expand and introduce new products. Monzo was valued at US$4.5 billion in late 2021 after a previous funding round.
Deal sizes and valuations for fintech VC investments also grew in both early-stage and late-stage deals. The median early-stage VC deal value in fintech sat at EUR 3.3 million in Q1 2024, up 50% from EUR 2.2 million in 2023. Median late-stage VC deal value rose 2.4% during the same period, reaching EUR 4.2 million in Q1 2024.
In Q1 2024, fintech led early-stage VC deals across all major verticals, securing the largest median round of the quarter, followed by cleantech (EUR 2.8 million) and software-as-a-service (SaaS) (EUR 2.6 million).
Median early-stage VC deal value (EUR million) by vertical, Source: Q1 2024 European VC Valuations Report, PitchBook, May 2024
Europe sees growth in 2024
The recovery in European fintech VC is further supported by data released in April by market intelligence platform CB Insights. The data, released as part of the “State of Fintech Q1 2024” report, reveal that Europe was the only major global region to see fintech funding increase in Q1 2024, growing by 22% quarter-on-quarter (QoQ) to US$2.2 billion.
Key deals were secured in the UK and the Netherlands, exemplified by Monzo’s US$430 million Series I, Flagstone’s US$139 million round (UK), Mews’ US$110 million Series D (Netherlands), and DataSnipper’s US$100 million Series B (Netherlands).
Experts anticipate continued growth in the European fintech sector moving forward, especially in areas such as alternative payments, blockchain technology and regtech.
James Booth, VP Partner Management EMEA at PPRO, anticipates an increase in the use of payment methods such as bank transfers, e-wallets, and buy now, pay later, telling Sifted in January 2024 that British consumers are already using alternative payment methods in more than 50% of online transactions.
James Devlin from Fidelity International Strategic Ventures predicts that regtech will gain traction in 2024 as regulators continue to pressure financial institutions to meet compliance obligations, particularly in monitoring staff communications.
Finally, Carol Hagh, a Non-Executive Director and Chair of the Screening Committee at Harvard Business School Alumni Angels of the UK, claims that while a mass resurgence of cryptocurrency is unlikely, blockchain technology holds promise. She anticipates that 2024 might witness substantial adoption and commercialization of the technology, particularly in sectors such as insurance, healthcare, and supply chain management.
Despite the positive outlook for Europe, global fintech investments faced challenges in Q1 2024, with a 16% decrease in funding compared to the previous quarter and a 119% year-over-year (YoY) decline. This decline reflects broader economic uncertainties, soaring inflation and a looming global recession. Global fintech funding dropped by 50% to US$39.2 billion in 2023, falling from US$78.6 billion in 2022 – a far cry from the record of US$140.8 billion secured in 2021.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/2024-shows-signs-of-improvements-for-established-european-fintech-firms</link><guid>3653</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/05/2024-Shows-Signs-of-Improvements-for-Established-European-Fintech-Firms-1440x564_c.jpg</dc:content ><dc:text>2024 Shows Signs of Improvements for Established European Fintech Firms</dc:text></item><item><title>TWINT ist jetzt auch auf Stripe verfügbar</title><description><![CDATA[
									
					
							
					Die Finanzinfrastruktur-Plattform Stripe gab gestern eine Partnerschaft mit der Bezahl-App TWINT bekannt.
Die Kooperation eröffnet Stripe-Nutzern weltweit die Möglichkeit, TWINT als Zahlungsmethode zu integrieren, und erschliesst damit den Zugang zu mehr als fünf Millionen aktiven Nutzern von TWINT in der Schweiz.
TWINT ist mit einer Abdeckung von über 76 Prozent im Schweizer E-Commerce eines der beliebtesten Zahlungsmittel der Schweiz. Nahezu alle Schweizer Banken bieten ihren Kunden TWINT als mobile Bezahllösung an. TWINT-Nutzer können direkt und bargeldlos von ihrem Bankkonto aus Zahlungen für eine hohe Zahl an Use Cases auslösen, unter anderem im E-Commerce, an der Kasse, in Apps und an Verkaufsautomaten. Weitere Funktionen und Einsatzbereiche kommen laufend neu dazu.&#13;


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Die Allianz zwischen Stripe und TWINT ist nicht nur bedeutsam für Schweizer Nutzer von Stripe, sondern auch für internationale Unternehmen, die ihre Produkte und Dienstleistungen in der Schweiz anbieten. Für viele deutsche Unternehmen etwa zählt die Schweiz zu den wichtigsten Expansionsmärkten.
Marcos Raiser do Ó
Marcos Raiser do Ó, Head of DACH and CEE bei Stripe:
„Wir freuen uns sehr, mit TWINT zusammenzuarbeiten, um unseren Nutzern einen noch besseren Zugang zum Schweizer Markt zu ermöglichen. TWINT ist eine sichere und bequeme Zahlungsmethode, die von Millionen von Menschen in der Schweiz genutzt wird. Wir erwarten, dass viele unserer Nutzer ihren Umsatz im Schweizer Markt mit TWINT deutlich steigern können.”
Adrian Plattner
Adrian Plattner, CSO bei TWINT, ergänzt:
„Die Integration von TWINT als Zahlungsmethode bei Stripe eröffnet zahlreichen internationalen Händlern die effektive Möglichkeit, den Schweizer Markt zu erschliessen. Gleichzeitig bauen wir die Vielfalt an Einsatzmöglichkeiten für die Nutzenden von TWINT zunehmend aus. Wir freuen uns darum, unsere Reichweite mit dieser Partnerschaft über die Grenzen der Schweiz hinaus weiter zu festigen und das Leben von Nutzenden und Händlern zusätzlich zu vereinfachen.”


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	]]></description><link>https://fintechnews.eu/twint-ist-jetzt-auch-auf-stripe-verfugbar</link><guid>3652</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>TWINT ist jetzt auch auf Stripe verfügbar</dc:text></item><item><title>BIS: Digitalization Enhances Bank Efficiency and Customer Experience But Introduces Risks</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 29, 2024
																				





					
					
							
					Digitalization and technology are introducing a number of benefits to banks, allowing them to improve efficiencies, cut cost and enhance customer experience. However, these advancements also introduce risks, including operational, reputational, and strategic risks, according to a new report by the Bank for International Settlements (BIS).
The report, titled “Digitalisation of Finance” and authored by the BIS’s Basel Committee on Banking Supervision, examines the ongoing digitalization of finance on banks, highlighting both the advantages and risks of new technologies and the rise of new technology-enabled service providers in the banking sector.
APIs are facilitating data sharing
According to the report, the ongoing digitalization of finance is characterized by the emergence and growing use of innovative technologies across various aspects of the banking value chain. These technologies include application programming interfaces (APIs), artificial intelligence and machine learning (AI/ML), and distributed ledger technology (DLT).&#13;


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Innovative technologies and the banking value chain, Source: Digitalisation of finance, The Basel Committee on Banking Supervision, Bank for International Settlements, May 2024
APIs facilitate data sharing between different applications, enabling efficient real-time processing and increased data connectivity. Around the world, banks are using APIs to share and import data between their internal systems for mobile banking, collaborate with external partners within their systems, collaborate with external partners through models like banking-as-a-service (BaaS), and connect with third parties such as account software providers, payment processors and alternative credit scoring companies.
APIs are also commonly used in open banking and open finance frameworks, which are rapidly being implemented around the world to encourage further innovations in business models and products, and foster financial inclusion.
Adoption of open banking and open finance, Source: Digitalisation of finance, The Basel Committee on Banking Supervision, Bank for International Settlements, May 2024
AI and ML to boost efficiencies
Banks are also increasingly adopting AI and ML techniques to enhance their operations. These techniques are capable of predicting a wide variety of complex phenomena and have the potential to increase banks’ operational efficiency, risk management capabilities and product offering. This includes improving customer experience through streamlined interactions, offerings superior pattern recognition ability and predictive power, providing greater accuracy and consistency in processing, as well as enabling cost efficiencies.
AI holds tremendous potential in finance, with McKinsey estimating that AI technologies could deliver up to US$1 trillion of additional value each year for the global banking industry. This would be achieved through increased revenues through personalized services, cost efficiencies, and the uncovering of new and previously unrealized opportunities using data.
Banks are using AI and ML applications for both back office and front office functions with use cases including credit underwriting, trading activities, pricing models, regulatory capital and planning, liquidity requirements and planning, fraud detection and prevention, anti-money laundering and combating the financing of terrorism (AML/CFT), chatbots and marketing.
Most recently, generative AI (gen AI), a subfield of AI focused on developing algorithms and models capable of generating new text, images, or other media, has received significant public attention. Though banks’ use of gen AI remains limited at present, the BIS report notes that some are exploring or piloting gen AI applications internally to improve operational efficiency and staff productivity. Specific use cases observed include digital assistants, market analysis, fraud detection and code generation.
McKinsey estimates that gen AI could improve productivity in core corporate and investment banking (CIB) activities by between 30% to 90% in individual use cases, potentially adding up to about 10% of CIB operating profits in the long run.
Generative AI use cases in banking, Source: Digitalisation of finance, The Basel Committee on Banking Supervision, Bank for International Settlements, May 2024
DLT is opening up new opportunities
DLT is another technology transforming the banking industry by enabling digital money, tokenization, and improving the operational management of banks’ existing business activities. The technology is praised for its ability to lower costs and enhance efficiencies through automation and desintermediation.
One particular area of interest for banks is the tokenization of assets. Asset tokenization refers to the process of recording the rights to a given asset into a digital token that can be held, sold, and traded on a DLT platform. The resulting tokens represent a stake of ownership in the underlying asset. Asset tokenization has been praised for its potential to facilitate new ways of using financial assets to serve end users, offering new opportunities previously hindered by monetary system frictions.
Global management consultancy Roland Berger forecasts that the market for asset tokenization could mushroom to at least US$10 trillion by 2030. The value implies a 40-fold increase of the value of tokenized assets from 2022 to 2030, and marks a significant rise from the current value of around US$300 billion.
Estimated value of tokenized assets by 2030, Source: Roland Berger, Oct 2023
Notable use cases of asset tokenization by banks include the issuance of security tokens backed by real estate, the tokenization of banks’ shareholders’ equity, the tokenization and custody of bank customers’ shares, the tokenization of financial instruments such as intraday repo options and bonds, and the tokenization of the ownership rights in works of art.
Beyond tokenization, some banks are also using or exploring DLT for other purposes, including identification verification, settlement of tokenized transactions, cross-border payments, digital asset custody and bookkeeping.
Cloud computing fosters innovation
Finally, cloud computing promotes efficiency and economies of economies of scale by providing on-demand computer processing resources. These solutions allow for easier access to technology and computing infrastructure that would otherwise be expensive or take a long time to build and be costly to maintain. This reduces the barriers to entry for firms expanding into new products and services, and over time, reduce costs in financial services.
For banks, cloud services eliminate building costly on-premise data centers that cover peak-level computing burdens and, instead, allow them the flexibility to accommodate seasonal fluctuations in the need for computing.
For fintech startups, cloud services provide them with the infrastructure, tools, and flexibility needed to innovate, grow, and compete in the dynamic fintech landscape.
In the financial services sector, industry participants are embracing cloud computing at a fast pace. An industry survey conducted last year by Capgemini revealed that 91% of banks and insurance companies had initiated their cloud journey, a significant increase from 2020, when only 37% of firms had embarked on their cloud transformations. 89% of the financial services executives polled viewed cloud-enabled platform as crucial for delivering the agility, flexibility, innovation, and productivity necessary to meet escalating business demands.
Impact of new banking competitors and business models
Technological advances have led to the emergence of new market entrants and business models, increasing competition in the banking sector.
Digital-only banks, fintech startups, and bigtech firms are offering specialized digital financial services targeting individuals, entrepreneurs, and small and medium-sized enterprises (SMEs), often leveraging data and technology to enhance user experience. These companies also benefit from regulatory advantages over traditional banks due to their nimble nature, innovative technologies, and sometimes less complex business models.
Technological advances have also fostered strategic partnerships between banks and other firms. These partnerships aim to leverage the strengths of both parties, with banks providing infrastructure, expertise and regulatory permissions, and non-bank intermediaries contributing to product development, data analytics and user experience.
For banks, new technologies and partnerships offer opportunities for innovation, efficiency gains, and enhanced risk management. For consumers, digitalization promises expanded financial access, reduced transaction costs, improved experiences, and increased competition.
However, digital transformation also introduces new vulnerabilities and amplifies existing risks. Large-scale digital transformation projects carry risks related to legacy infrastructure and lack of expertise, particularly for smaller banks. Partnerships with non-banks, meanwhile, can create dependencies, jeopardizing banks’ control over volumes, product design, origination processes and customer relationship, and leading to potential losses in business and financial performance.
Furthermore, reputational and operational risks may arise from failures, non-compliance, and issues with third-party partners. Finally, increased data sharing and interconnectivity between banks and third parties pose challenges for data security and protection. This expanded access can lead to data breaches and a larger surface area for cyber attacks.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/bis-digitalization-enhances-bank-efficiency-and-customer-experience-but-introduces-risks</link><guid>3651</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/05/Digitalization-Enhances-Bank-Efficiency-and-Customer-Experience-But-Introduces-Risks-1440x564_c.jpg</dc:content ><dc:text>BIS: Digitalization Enhances Bank Efficiency and Customer Experience But Introduces Risks</dc:text></item><item><title>7’000 Schweizer Online-Shops vereinfachen Online-Zahlungen mit Visa und Payrexx</title><description><![CDATA[
									
					
							
					Der Zahlungsdienstleister Payrexx integriert Click to Pay mit Visa ab sofort bei mehr als 7’000 Online-Shops kleiner und mittlerer Unternehmen in der Schweiz – darunter die Automobilplattform Carvolution, das Energieunternehmen BKW und die Zweifel Pomy-Chips AG.
Mit Click to Pay können die Online-Händler den Bezahlvorgang per Karte vereinfachen und ihre Chance auf erfolgreiche Kaufabschlüsse erhöhen, ohne dass ihnen zusätzlicher Aufwand oder Kosten entstehen.
Santosh Ritter
«Das Bezahlen im Internet ist oft noch zu kompliziert. Click to Pay ist angetreten, um die Kartenzahlung im Netz so einfach zu machen, wie man es vom kontaktlosen Bezahlen im Geschäft kennt. Damit Schweizer Banken ihren Kundinnen und Kunden die Lösung zur Registrierung anbieten, ist eine breite Verfügbarkeit im Online-Handel zentral. Die Integration von Tausenden von Online-Shops in Zusammenarbeit mit Payrexx ist ein wichtiger Meilenstein für den breiten Roll-Out von Click to Pay im Schweizer Markt»,&#13;


&#13;

sagt Santosh Ritter, Country Manager Schweiz und Liechtenstein bei Visa.
Händler profitieren von schnellerem Checkout, höherer Kaufabschlussquote und mehr Sicherheit
Click to Pay ist eine Weiterentwicklung der Kartenzahlung im Internet. Für Online-Händler bietet dies eine Reihe von Vorteilen. Bisher ist fast die Hälfte der Kaufabbrüche (44%) in digitalen Warenkörben auf Probleme beim Bezahlen zurückzuführen. Denn Konsument:innen begegnen in diesem Prozess oft noch gleich mehrere Hürden.
Sie müssen ihr Portemonnaie zur Hand haben, Daten von der Karte abtippen und mehrere Formularfelder ausfüllen. Click to Pay macht diese Schritte überflüssig und beschleunigt damit den Checkout-Prozess, wodurch die Quote erfolgreicher Kaufabschlüsse erhöht werden kann. Denn Online-Käufer:innen können mit Click to Pay shop- und geräteübergreifend mit wenigen Klicks bezahlen, ohne die Kartendaten überall neu einzugeben zu müssen. Selbst beim Ersteinkauf in Online-Shops, die diese moderne Checkout-Methode anbieten.
Zudem senkt Click to Pay für Händler das Risiko, Ziel von Kriminellen zu werden. Denn jede Zahlung mit Click to Pay ist tokenisiert und dadurch mit einer zusätzliche Sicherheitsebene abgesichert. Das bedeutet, dass Händler und ihre Zahlungsdienstleister bei einer Zahlung keine Kartennummern verarbeiten, sondern einen digitalen Platzhalter.
Visa Tokens können nicht an anderer Stelle eingesetzt werden und sind für Unbefugte damit wertlos, selbst wenn sie in falsche Hände geraten. Hiervon profitieren auch Konsument:innen: Die Betrugsrate bei Token-Zahlungen ist um bis zu 50 Prozent niedriger. Zudem ist die Payrexx-Zahlungsplattform PCI DSS Level 1 zertifiziert, verwendet Verschlüsselungsprotokolle wie SSL (Secure Socket Layer) und reduziert das Betrugsrisiko mithilfe des 3-D-Secure-Verfahrens.
Automatisches Update für Payrexx-Kunden – kein zusätzlicher Aufwand
Click to Pay modernisiert bestehende Kartenzahlungen im Online-Handel. Händler müssen keine neuen Zahlungsart akzeptieren und auch keine neue Partei wird zwischen sie und ihre Kund:innen geschaltet. Damit erhalten sie nicht nur die Kundenbeziehung, sondern geniessen auch weiter Vorteile wie die Zahlungsgarantie, sofort in dem Moment, in dem eine Transaktion autorisiert wird.
Die Integration von Click to Pay für Händler erfolgt in Zusammenarbeit mit Zahlungsdienstleistern wie Payrexx, die von Visa die notwendigen API-Spezifikationen und Integrationsanleitungen erhalten. Für Payrexx-Kunden entsteht kein zusätzlicher Aufwand. Die Aufschaltung von Click to Pay ist mit ihren bestehenden Konfigurationen kompatibel. Zudem sind Kartenzahlungen auch weiterhin per manueller Eingabe möglich.
Ivan Schmid
«Insbesondere für kleinere Händler ist es wichtig, dass ihre Kundschaft schnell und bequem einkaufen kann. Click to Pay mit Visa beschleunigt den Checkout-Prozess und erhöht so die Wahrscheinlichkeit, dass der Kauf auch tatsächlich abgeschlossen wird. Aus der engen Zusammenarbeit mit Visa ergibt sich also nicht nur ein enormer Mehrwert für die Händler von Payrexx, sondern auch für all ihre Shopperinnen und Shopper»,
sagt Ivan Schmid, Gründer und CEO von Payrexx.


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	]]></description><link>https://fintechnews.eu/7000-schweizer-online-shops-vereinfachen-online-zahlungen-mit-visa-und-payrexx</link><guid>3650</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>7’000 Schweizer Online-Shops vereinfachen Online-Zahlungen mit Visa und Payrexx</dc:text></item><item><title>Schweizer Retailbanken im Krypto-Anlage-Fieber</title><description><![CDATA[
									
					
							
					Trotz breiter Skepsis, immer mehr Retailbanken bieten Kryptowährungen als vollwertige Anlageklasse an. Während einige Banken gezielt eigenes Know-how rund um Blockchain aufbauen, greifen die meisten auf Drittanbieter zurück. Dies zeigt eine neue Studie der Hochschule Luzern.
Nach Rekordwerten im Jahr 2021 und einem darauffolgenden Einbruch sind die Preise von Kryptowährungen in den letzten Monaten wieder deutlich gestiegen. Verschiedene Retailbanken haben sich entschlossen, ein Angebot an Kryptowährungen aufzubauen.
Gemäss einer Studie der Hochschule Luzern (HSLU) bieten 28 Prozent der Retailbanken Kryptowährungen als vollwertige Anlageklasse an oder beabsichtigen, dies künftig zu tun. Nach Jahren der Zurückhaltung sieht es danach aus, dass mindestens grössere Retailbanken in ihrer Kundenbasis ein Bedürfnis nach Kryptowährungen erkennen.&#13;


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Banken gelten als vertrauenswürdiger
Felix Buschor
«Die Banken scheinen in Kryptoanlagen Potenzial zu sehen»,
sagt Co-Studienautor Dr. Felix Buschor. Der Finanzexperte führt dies auf zwei grosse Vorteile zurück, welche Banken gegenüber Kryptobörsen haben:
«Erstens geniessen sie das Vertrauen ihrer Kundschaft, wenn es um die sichere Abwicklung und Verwahrung von Kryptowährungen geht. Zweitens können Kryptowährungen kundenfreundlich mit vorhandenen Bankdienstleistungen verschmolzen werden.»
Das heisst gemäss dem Studienleiter, dass Kryptowährungen im E- oder Mobile-Banking gehandelt werden können oder im Depotauszug und im Steuerverzeichnis zusammen mit den übrigen Vermögenswerten ausgewiesen werden.
Abbildung 27: Übersicht über mögliche Ausprägungsformen von Kryptowerten.
Blockchain: Gamechanger für die Banken?
Die Einführung von Kryptowährungen sei für die Banken nicht nur eine reine Erweiterung ihrer Produktpalette. Gemäss Buschor stellt sich damit unweigerlich auch die Frage, welche strategische Bedeutung sie der Blockchain für die Zukunft des Bankgeschäfts beimessen. Wie die Studie zeigt, gibt es hierzu unterschiedliche Auffassungen:
«Manche Banken sehen Blockchain als eine Technologie, die das Rückgrat des Bankings der Zukunft bilden wird. Das Beherrschen der Blockchain Technologie wird als Kernkompetenz angesehen»,
so Buschor. Die Mehrheit der Banken sei sich diesbezüglich aber weniger sicher. Für sie stehe im Vordergrund, rasch auf das Kundenbedürfnis nach Kryptowährungen reagieren zu können.
Diese unterschiedlichen Auffassungen zeigen sich im Sourcing: Wer viel Potenzial in Kryptoanlagen sieht, investiert jetzt substanziell, um bankintern Know-how, Systeme und Prozesse rund um die Blockchain aufzubauen. Die Banken, welche in Kryptoanlagen im Moment eher einen kurzfristigen Businesscase sehen, würden sich dieses Know-how bei Drittanbietern einkaufen.
«Das geht wesentlich schneller, als eigene Prozesse aufzugleisen»,
hält der Co-Studienautor fest.


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	]]></description><link>https://fintechnews.eu/schweizer-retailbanken-im-krypto-anlage-fieber</link><guid>3649</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Schweizer Retailbanken im Krypto-Anlage-Fieber</dc:text></item><item><title>Crédit Agricole Next Bank Revolutionizes Its Lead Management and CRM With Investglass</title><description><![CDATA[
						
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					In a strategic move to transform the customer experience and automate internal operations, Crédit Agricole Next Bank launched its new lead management platform and CRM in March 2024. This launch marks a significant step in the digitalisation of retail banking.
Maxime Charton, Deputy Director of Development, is at the forefront of this initiative and expresses his satisfaction with the successful implementation of this new automation tool.
Maxime Charton
“The deployment of InvestGlass within Crédit Agricole Next Bank represents more than just a technical improvement; it’s a cultural transformation that allows the bank to continue innovating and improving its digital journeys for the benefit of its clients,”&#13;


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says Maxime Charton.
The Right Message at the Right Time with Personalized Journeys with AI
Choosing InvestGlass as a lead management solution addresses a significant challenge faced by Crédit Agricole Next Bank: effectively meeting the needs of a growing clientele while managing significant linguistic diversity among employees and clients who speak more than four languages. The flexibility and automation capabilities of InvestGlass have been crucial in providing a tailored response to this substantial influx of new clients while ensuring a personalised and efficient service.
The Digitalisation of Lead Management: The InvestGlass Platform as the Backbone
The appointment scheduling, prospect flow automation, and mailing tools integrated into InvestGlass have played a crucial role in achieving this objective, enabling the bank to manage its communications more agilely and personally, regardless of the channel used.
Stephane Graeffly
“InvestGlass allows us to optimise our operational efficiency while significantly improving our client’s experience,”
adds Stephane Graeffly, Director of the Online Agency.



Featured image: InvestGlass and Credit Agricole Next Bank team


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								]]></description><link>https://fintechnews.eu/credit-agricole-next-bank-revolutionizes-its-lead-management-and-crm-with-investglass</link><guid>3648</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Redefining-Resilience-for-Banks-in-the-Digital-Era-With-the-Four-Zeros.png</dc:content ><dc:text>Crédit Agricole Next Bank Revolutionizes Its Lead Management and CRM With Investglass</dc:text></item><item><title>Finastra to Power LGT’s Instant Payments in Austria and Liechtenstein</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 27, 2024
																				





					
					
							
					Finastra, a global financial software provider, has been chosen by private bank LGT to launch instant payment services in Austria and Liechtenstein, with plans to expand to other markets.
LGT will utilise Finastra’s payment hub, adopting a model bank implementation approach to expedite compliance with the EU’s instant payments regulatory timeline.
By separating payment processing from its core banking system, LGT aims to manage anticipated growth in instant payment volumes and ensure 24/7 service availability.&#13;


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Finastra’s payment hub is designed to offer a scalable and resilient payment processing system, enabling banks to meet regulatory requirements and quickly adapt to future changes.
LGT’s implementation of Finastra’s payment hub will allow the bank to swiftly comply with the upcoming EU regulatory deadline for instant payments.
The solution also facilitates the adoption of other payment schemes, such as SIC5 IP in Switzerland, supporting ongoing modernization and innovation.
LGT already employs Finastra Kondor, a treasury management system, and Finastra’s Total Messaging platform.
Bernhard Strauch
“We selected Finastra’s payment hub as it supports multiple payment types within one standalone system, while enabling seamless integrations of new services as and when we need them.

With Finastra’s solution and industry expertise, we will gain the necessary agility required to keep pace with regulatory and industry demands.”
said Bernhard Strauch, Head Securities &amp; Payments Services at LGT Financial Services.
Neil Macro
“Underpinned by open architecture, APIs and our partner ecosystem, our solutions enable banks like LGT to innovate at speed, boost risk management and deliver enhanced services to end-users.

For example, the bank can seamlessly implement new functionality to strengthen its instant payments offering, such as Verification of Payee and real-time sanctions screening. We look forward to supporting LGT on further developing its payments services.”
said Neil Macro, Vice President, Managing Director – EMEA mid-markets, Payments at Finastra.

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	]]></description><link>https://fintechnews.eu/finastra-to-power-lgts-instant-payments-in-austria-and-liechtenstein</link><guid>3647</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/05/Finastra-Provides-LGT-With-Solution-to-Fast-Track-Compliance-With-the-EU-Instant-Payments-Regulation-1440x564_c.jpg</dc:content ><dc:text>Finastra to Power LGT’s Instant Payments in Austria and Liechtenstein</dc:text></item><item><title>The 4 Finalists of the Swiss Fintech Awards 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 24, 2024
																				





					
					
							
					A jury of 20 decision-makers and opinion leaders from the Swiss fintech sector has selected the finalists for this year’s Swiss Fintech awards from over 60 applications.
The finalists in the “Early Stage Start-up of the Year” category are Climada and Neur.on AI.
In the “Growth Stage Start-up of the Year” category, GenTwo and Payrexx reached the finals.&#13;


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The Early Stage Finalists Swiss Fintech Awards 2024

Climada Technologies aims to provide financial service companies with transparent and regulatory compliant climate change reporting with a high degree of automation. The open-source platform provides science-based insights into climate risk analysis, offers assessments of the effects of these risks on a company’s finances, productivity or supply chains and develops future scenarios.

Neur.on AI tackles the problem that financial institutions have to process and translate a vast number of legal documents. By using artificial intelligence, Neur.on AI can translate legal documents cost-effectively and accurately. Neur.on AI has proven that its specialized financial and legal translations are significantly better than those of non-specialized competitors.
Growth Stage Finalists Swiss Fintech Awards 2024

GenTwo expands the investment universe through the assetization of previously unbankable assets – driven by technology and innovation in securitization and tokenization. With its offering, GenTwo has been able to create five billion US dollars’ worth of financial products for over 300 clients in 26 countries.

Payrexx is a payment platform that integrates a wide range of both local and global payment methods to facilitate online commerce for all types of businesses. With just one Payrexx account, merchants can tap into over 200 payment options. The company has so far acquired 60,000 merchants as customers and integrated its platform with over 100 partners as a white label solution.
Finalist Presentation
On June 11, the finalists will present their innovations in Zurich at the Swiss fintech conference by Finanz und Wirtschaft and the winners will be announced that same evening at the Swiss FinTech Awards Night. Since their inception in 2016, the Swiss FinTech Awards have become the most important award in the fintech industry and have since honored outstanding innovators, startups and influential players within the Swiss fintech ecosystem every year.


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	]]></description><link>https://fintechnews.eu/the-4-finalists-of-the-swiss-fintech-awards-2024</link><guid>3645</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/05/Swiss-FinTech-Awards-Announce-Finalists-of-2024-1440x564_c.jpg</dc:content ><dc:text>The 4 Finalists of the Swiss Fintech Awards 2024</dc:text></item><item><title>3 Top Fintech Megatrends of 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 24, 2024
																				





					
					
							
					2023 acted as a reset year in the venture capital (VC) ecosystem as investments witnessed their first significant drop since 2017. In 2024, investors anticipate a gradual growth in both the number and size of funding rounds compared to 2023, with massive opportunities for fintech startups in the areas of generative artificial intelligence (gen AI), sustainable finance, business-to-business (B2B) solutions and tokenization, a new report by American VC firm Plug and Play says.
The “Fintech Megatrends 2024” report, released in March 2024, shares the major fintech trends to look out for this year, drawing on market research and interviews with VCs and investors from Plug and Play, LBBW Venture Capital, BlackFin Tech, Elevator Ventures, Breega, Illuminate Financial, Auxxo, DB1, Fidelity International Strategic Ventures, HV Capital, and Dawn Capital.
Sustainable finance
Although significant efforts have been made to reduce greenhouse gases, global progress towards net-zero emissions is lagging, with CO2 emissions from energy and industry increasing by 60% since 1992.&#13;


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In the financial sector, the Net-Zero Banking Alliance has been established, comprising 142 banks from 44 countries committed to reaching net-zero greenhouse gas emissions from their lending and investment activities by 2050. However, some European banks such as Deutsche Bank, HSBC, Barclays, and Crédit Agricole have been found to support fossil fuel companies by facilitating the raising of over EUR 1 trillion through global bond markets, according to an investigation by The Guardian.
These challenges are bringing about opportunities for sustainable finance startups to tap into, with Plug and Play emphasizing renewable energy, carbon capture and accounting technologies, circular economy solutions and precision agriculture technologies as promising verticals.
The VC firm also see significant opportunities in the voluntary carbon market (VCM). VCM, which allows entities to purchase carbon credits to offset greenhouse gas emissions, was valued at US$2 billion in 2021. By 2030, the market is projected to reach US$40 billion, with sectors including banking, oil and gas, and airlines expected to remain key adopters of VCM. In this area, technological solutions that are enhancing market transparency and efficiency through automated verification and predictive analytics are expected to gain momentum.
The firm also anticipates increased demand for transparent, standardized, and accurate ESG data, fueling the growth of startups in the sector. This will come amid stricter regulations on ESG standards and requirements.
Generative AI integration and RPA
Gen AI, a type of AI technology capable of producing various forms of content, including text, imagery, audio, and synthetic data, emerged prominently in 2023, driven by the excitement following the introduction of OpenAI’s ChatGPT in late 2022.
Despite the frenzy that ensued, enterprise adoption of AI systems lagged behind expectations in 2023, with a survey of approximately 600 enterprise executives from Coatue suggesting that while 60% of enterprises were planning to adopt AI in 2023, less than 10% had managed to do so.
This slow adoption is being attributed to challenges like the complexity of integrating AI with existing systems, the lack of accuracy and insufficient quality data. These obstacles present opportunities for fintech startups to help enterprises incorporate gen AI into their systems more effectively.
Plug and Play also anticipates an increase in demand for robotic process automation (RPA) this year as banks seek to cut costs and reduce their workforce. RPA involves the use of automated “bots” to handle high-volume, low-complexity, and repetitive tasks typically performed by employees, improving efficiencies, reducing overall costs, and allowing for continuous operation without errors. Over the past decade, RPA has emerged as a prominent technology in business-to-business (B2B) software tech. This growth is projected to carry on, with Forrester expecting the market size to reach US$22 billion in 2025.
CFO tech and B2B fintech
CFO tech, a fintech subsector dedicated to assisting CFOs and finance teams in managing their financial operations more efficiently, is another trend to look forward to this year onwards. The sector is expected to grow on the back of technological advancements, evolving business needs and increasingly complex regulatory environments.
Finance teams are grappling with significant challenges in managing and analyzing data due to their disparate nature and complex interconnections. The process involves collecting and cleaning data from various sources, such as enterprise resource planning (ERP) systems, human resources management systems, billing tools, customers, and suppliers, a tedious and time-consuming process that detracts from more strategic activities. Furthermore, normalizing and reconciling data across systems is time-consuming, and obtaining inputs for budgeting from numerous stakeholders leads to inefficiencies and errors.
CFO tech will emerge to address these challenges by providing a comprehensive suite of tools designed to improve accuracy, efficiency, compliance, and strategic decision-making within the finance function. They will enhance collaboration and empower finance teams to adopt a more proactive approach across the entire value chain. These tools will cover areas such as ERP, accounting, payroll, spend management, and compliance, Plug and Play says.
Tokenization, alternative assets among top wealthtech trends
In the wealthtech segment, asset tokenization is expected to gain traction this year owing to the technology’s potential to enhance liquidity, simplify trading, and open up new investment opportunities. This trend will be driven by increased adoption among banking incumbents like JP Morgan and ABN AMRO which are developing infrastructure to support the trend. Plutoneo, a German-based blockchain consulting firm, projects that the European security token market will grow 81% annually over the next five years and reach EUR 918 billion by 2026.
The democratization of alternative assets is another major trend to look out for in 2024 and beyond. These assets, which include private equity funds, luxury goods, art and real estate, offer diversification and new investment opportunities for both institutional and retail investors. Fintech companies are driving this trend by making private banking accessible to a broader audience.
Finally, indexing is poised to be a hot trend in fintech in 2024 driven by the rapid growth and needs of the exchange-traded fund (ETF) market. Many asset managers lack the sophisticated in-house capabilities required for index development and benchmarking, a gap which creates opportunities for innovative indexing fintech startups to provide the necessary infrastructure for designing and maintaining these custom indices. Their services will be particularly crucial for the growing segment of thematic ETFs, which require specialized and dynamic indexing solutions.
Next-generation compliance tools
Finally, next-generation compliance tools are expected to gain prominence and experience significant growth this year onwards as financial crimes and fraudulent transactions continue to pose threats to the financial system and global economies.
Plug and Play predicts that a new wave of regtech startups will emerge. These startups will spearhead the “compliance 2.0 wave”, leveraging technologies like gen AI models to discern intricate fraudulent schemes. They will focus on bringing know-your-customer (KYC), know-your-business (KYB), and anti-money laundering (AML) capabilities within one platform. This integration will facilitate continuous customer monitoring, streamline the onboarding process and ensure ongoing anti-fraud controls.
EY estimates that the annual cost of money laundering and associated crimes ranges from US$1.4 trillion to US$3.5 trillion.

featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/3-top-fintech-megatrends-of-2024</link><guid>3646</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/05/Sustainable-Finance-Gen-AI-Tokenization-Among-Top-Fintech-Megatrends-of-2024-1440x564_c.jpg</dc:content ><dc:text>3 Top Fintech Megatrends of 2024</dc:text></item><item><title>Fabrick Enters German Market With the Acquisition of FinAPI</title><description><![CDATA[
									
					
							
					Fabrick, an Open Finance operating company based in Italy, continues to execute its international growth and consolidation strategy in a growing market, and announces agreement to acquire finAPI GmbH, one of the leading German operators of Open Finance solutions.
The operation, subject to approval by the German and Italian supervisory authorities, is carried out through an agreement signed with SCHUFA Holding AG, from which Fabrick will acquire 75% of finAPI. The other 25% of the shares will remain with the two founders of finAPI, Dr. Florian Haagen and Dr. Martin Lacher, who will both continue to play a role in the unified entity.
The strategy aims to drive forward the innovation of European businesses by enabling new embedded finance service models. Founded in Munich in 2008 to develop solutions for the aggregation and analysis of financial data, finAPI is a pioneering force across the Open Banking, Data Intelligence, KYC, and Payments services. It serves over 350 clients, including banks, financial service providers, fintech companies, insurance companies, and software providers, not only in Germany, but also in Austria, the Czech Republic, Slovakia, and Hungary.&#13;


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Expanding its presence beyond Italy, Spain and the United Kingdom, Fabrick takes a significant step by entering into the strategically important DACH region. This move not only establishes Fabrick’s leadership in Germany, but also solidifies its position as one of the key players in Europe’s burgeoning Open Finance segment for services provided.
Paolo Zaccardi
Paolo Zaccardi, CEO of Fabrick, stated:
“This agreement to acquire finAPI, following the recent capital increase with Mastercard and Gruppo Reale Mutua and the acquisition of JudoPay in the United Kingdom, represents another significant milestone for Fabrick, enabling the proliferation of the internationalisation strategy defined since our inception. It allows us to enter the DACH Region, an area of strategic importance in allowing us to scale up our operations and seize the growing opportunities offered by the sector in which we operate. This operation is also a further step in expanding our offering, which now covers the entire value chain of Open Finance services.”
The strategic importance of the German market is also confirmed by the results of the study “Embrace Embedded Finance For Seamless Payment Success: A Spotlight On Europe,” conducted by Forrester Consulting for Fabrick. Of the 126 German decision-makers and managers interviewed, 74% stated they would invest or increase investments in payment acceptance solutions in the next 24 months. Specifically, 77% of the sample said that they will assign a high priority to payment orchestration solutions and 71% to solutions for accepting account-to-account payments via API.
The combined portfolio of finAPI and Fabrick offers customers a wider range of centralised digital solutions. In particular, finAPI‘s customers will benefit from this merger, thanks to the European coverage and Fabrick’s extensive portfolio of payment solutions.
Tanja Birkholz
Tanja Birkholz, CEO of SCHUFA, stated:
“Over the past three years, we have worked intensively with the goal of creating the greatest possible value for individuals and businesses. Technology plays an important role in developing customer-oriented products and services, and this requires strong partners capable of focusing on technological development. In this sense, Fabrick represents the ideal partner for the further development of finAPI. We know the needs of our customers, and Fabrick and finAPI possess the technological know-how to meet them, allowing them to benefit from further product developments in the field of Open Banking.”
Florian Haagen
Florian Haagen, CEO and Co-founder of finAPI, stated:
“The operation with Fabrick, characterised by its European approach, offers great opportunities for all. Together with the German market business, we will continue to actively shape the future of Open Finance in Europe.”
The transaction remains subject to approval by the German and Italian supervisory authorities. finAPI will remain regulated in Germany and will continue its strategic collaboration with SCHUFA for the development of Open Finance in the German market.
Drake Star Partners and White &amp; Case supported SCHUFA as advisors and legal, while Fabrick was assisted by Chiomenti and Gleiss Lutz for legal matters and Deloitte Financial Advisory for due diligence.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/fabrick-enters-german-market-with-the-acquisition-of-finapi</link><guid>3644</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Fabrick Enters German Market With the Acquisition of FinAPI</dc:text></item><item><title>Need for Enhanced Developer Ecosystems Among B2B Fintech Companies</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 23, 2024
																				





					
					
							
					A new study conducted by tech marketing agency Z3x reveals that while business-to-business (B2B) fintech companies are active on social media and maintain blogs to connect with their audiences, there is room for improvement, particularly in creating an engaged developer ecosystem and offering developer portals.
The research, which polled 200 business-to-business (B2B) fintech companies worldwide and analyzed their websites, sought to evaluate the sector’s marketing strategies and technical details, aiming to provide insights to industry specialists.
Key findings indicate that 95% of B2B fintech companies use LinkedIn, 75% use Facebook, and 60% use X, making these three platforms the top social networks for B2B fintech businesses. Additionally, 77% of the companies have blogs, with 60% having general blogs, 36% news blogs, and 8% tech blogs. This reveals that most B2B fintech businesses have understood the importance of maintaining a blog to support authority building, education and lead generation.&#13;


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The report emphasizes the need for diverse blog content, pointing out that the relatively small percentage of companies offering tech content represents a growth opportunity. By showcasing technological expertise, companies can engage their users more effectively, the report says.
Furthermore, the report highlights opportunities for improvement in the use of channels such as TikTok and Instagram. B2B fintech companies can stand out from competitors by leveraging these channels, it says. However, to effectively reach their audience and strengthen their industry position, they must tailor their content to each platform’s unique features and target audience.
Developer portals and communities
The Z3x study also examines the use of developer portals and communities, including the presence of “Dev Zones”, or dedicated spaces for developers.
Developer portals and communities are critical in driving product adoption, fostering innovation, and building long-term relationships with their clients. These platforms provide essential resources, support, and engagement opportunities that empower developers to effectively utilize fintech solutions and contribute to the ecosystem.
However, the research reveals that only 36% of the B2B fintech companies polled have a separate, dedicated area specifically for developers, and just 22% provide changelogs, a low percentage which may raise transparency concerns about product evolution.
Changelogs are websites that track and describe the changes made to a software project or product over time, such as the version number, date of release, and a summary of the changes made. They help developers and users understand the evolution of the system and stay informed about the latest updates.
Additionally, only 37% of B2B fintech companies offer a public application programming interface (API) that enables communication and data exchange between different software applications. This cautious approach may reflect a lack of trust in the developer community or fear of revealing competitive advantages, but may also limit product development and sector innovation.
Equally concerning is that only 43% of companies make their API documentation publicly available. At a time when application interactions are central to most technological solutions, keeping such documentation private can stifle innovation and collaboration, the report says. This practice, often driven by competitive fears, might protect certain business interests but at the expense of broader developmental opportunities.
Regarding community-building efforts, the study shows that only 9% of fintech companies have dedicated platforms for developer communities. The most used platforms are GitHub (67%), followed by Discord (17%), Stack Overflow (11%), Reddit, and Slack (both 6%).
SDKs and public code repositories
The report also discusses software development kits (SDKs) and public code repositories, emphasizing their importance in promoting transparency, support community and ecosystem development, and simplify integration.
SDKs are comprehensive collections of software tools, libraries, documentation, code samples, processes and guides that developers user to create applications. These offerings simplify integration, enhance developer experience and reduce development costs.
However, the study reveals that only 27% of the B2B fintech companies surveyed provide SDKs. Similarly, just 16% of companies maintain public code repositories, predominantly utilizing GitHub. Public repositories are online platforms that facilitate collaboration, code sharing, and community building among developers. They provide a centralized and transparent environment for hosting and managing software projects, promoting open collaboration, code reusability, transparency, accountability, community building, and visibility for projects and contributors.
For B2B fintech companies, not providing SDKs or not maintaining a public code repository can result in integration challenges, poor developer experience and reduced developer adoption, and a loss of community engagement. It can also lead to security concerns, difficulty scaling, limited innovation and competitive disadvantage.
The rise of B2B fintech
B2B fintech has witnessed remarkable growth and innovation in recent years, driven by increasing demand from businesses for tailored financial solutions, efficiency improvements, and technological advancements. Data from Dealroom.co reveal that there has been a notable shift in fintech activity from consumer-focused to business-oriented propositions, particularly evident in 2023.
According to the data provider, B2B fintech startups received the majority of fintech funding last year, accounting for 79.8% of total investments through November 30. In contrast, business-to-consumer (B2C) startups attracted only 20.2% of fintech funding during the same period. This represents a considerable decline from the 50.6% share that B2C fintech startups held in 2016, indicating a notable trend shift worth monitoring.
Nirav Choksi, CEO and co-founder of Indian digital banking platform CredAble expects the trend to carry on in 2024 and beyond, driven by opportunities in payment platforms, lending solutions, and software-as-a-service (SaaS) tools.
Choksi foresees several technology trends dominating the sector moving forward, including robotic process automation (RPA), blockchain technology, open finance, generative artificial intelligence (gen AI), and banking-as-a-service (BaaS).
RPA stands to automate repetitive tasks, improving efficiency and reducing costs; gen AI is poised to play a pivotal role in customizing financial services, optimizing investment portfolios, and enabling fairer credit access; and blockchain technology is set to enhance cross-border transactions, digital identity verification, trade finance, and compliance, he says.
Additionally, BaaS will allow non-financial companies to integrate financial services into their platforms, offering a connected and convenient financial experience for businesses; and open finance will evolve from open banking to utilize diverse data sets for more innovative and inclusive financial solutions.

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	]]></description><link>https://fintechnews.eu/need-for-enhanced-developer-ecosystems-among-b2b-fintech-companies</link><guid>3643</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/New-Study-Reveals-Need-for-Enhanced-Developer-Ecosystems-Among-B2B-Fintech-Companies-1440x564_c.jpg</dc:content ><dc:text>Need for Enhanced Developer Ecosystems Among B2B Fintech Companies</dc:text></item><item><title>Ebankit Opens Operational Hub in Germany</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 23, 2024
																				





					
					
							
					ebankIT, a fintech company that offers financial institutions a customer-centric digital banking experience , announced the opening of its newest hub in Berlin, Germany.
With a strong presence of over 10 clients in the DACH Region, particularly in Switzerland, the establishment of this strategic hub in Berlin signifies a significant step for ebankIT in providing exceptional value to financial institutions, partners, and industry stakeholders.
ebankIT offers tailored banking solutions that align with local regulations while also meeting the needs and expectations of banking clients. By placing a strong emphasis on innovation and user-centric design, ebankIT’s omnichannel platform distinguishes itself in the market by offering seamless integration, advanced security features, and intuitive user experiences.&#13;


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Renato Oliveira
“We are delighted to inaugurate our new operational center in Berlin. With this center we will strengthen our ability to deliver tailored financial solutions to better serve FI in the DACH Region,”
Said Renato Oliveira, CEO of ebankIT,
“With Berlin’s dynamic tech ecosystem and talented workforce, we’re ready to start creating a meaningful impact and help shape the future of digital banking.”


Featured image credit: edited from freepik



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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/ebankit-opens-operational-hub-in-germany</link><guid>3642</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Ebankit-Expands-Its-International-Footprint-With-the-Establishment-of-a-New-Operational-Hub-in-Germany-1440x564_c.jpg</dc:content ><dc:text>Ebankit Opens Operational Hub in Germany</dc:text></item><item><title>Trust Square Appoints New CEO</title><description><![CDATA[
									
					
							
					Trust Square has announced the appointments of Marc Hauser as CEO and Daniel Gasteiger as Chair of the Advisory Board.
The leadership appointments support Trust Square’s aims to accelerate innovation, foster global collaboration, and drive adoption in emerging technologies.
The latest leadership appointments follow Trust Square’s recent announcement of a strategic partnership with The Hashgraph Association (THA).&#13;


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Marc Degen
Marc Degen, Chairman of the Board of Directors, states:
«We are excited to have Marc and Daniel join us and bring their expertise to our mission of driving the adoption of new technologies. Both have an outstanding reputation within the community and share their expert view on how new technologies find their path into reality from the corporate, startup and influencer perspective. The board of Trust Square is convinced that we have won the best talent to nurture the seeds we’ve planted into a bouquet of helpful instruments to simplify tech innovation for everyone.»
The appointment of Marc Hauser as CEO as per the start of June 2024 reinforces Trust Square’s strategic direction. As a renowned expert in the technology and innovation space, he brings with him 18 years of experience across deep tech, fintech, Web3, banking, and entrepreneurship and is uniquely positioned to lead Trust Square in fostering innovation and collaboration across various domains. He states:
Marc Hauser
«I am honored to join Trust Square as its new CEO at this pivotal moment in the technology landscape. My mission is to leverage our central role at the intersection of innovation and collaboration to drive the adoption of technology into the corporate environment. We will build on our solid foundation in Switzerland to expand our impact internationally, creating vibrant ecosystems in new locations.»
Having served as Head Europe &amp; Managing Partner at Tenity, Marc Hauser will use his expertise to drive Trust Square’s strategy of expanding its reach beyond Zurich and Switzerland, forging partnerships with global entities like The Hashgraph Association to establish international hubs, and support enterprise use cases.
Daniel Gasteiger, Co-Founder of Trust Square, takes over the position of Chair of the Advisory Board. In this capacity, he will drive expert communities to further strengthen Trust Square’s position as a thought leader in the emerging tech space



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	]]></description><link>https://fintechnews.eu/trust-square-appoints-new-ceo</link><guid>3640</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Trust Square Appoints New CEO</dc:text></item><item><title>SAP Fioneer and Deutsche Pfandbriefbank Launch Solution for Commercial Real Estate Financing</title><description><![CDATA[
									
					
							
					SAP Fioneer, the software specialist for the financial services industry, and Deutsche Pfandbriefbank AG (“pbb”) have launched the Digital Credit Workplace, a solution for commercial real estate financing that covers the entire lifecycle of transactions – from lending to credit risk management, all processes are supported.
The Credit Workplace is the answer to typical challenges faced by banks and financial service providers. Numerous manual process steps, fragmented IT support, distributed and redundant data and extensive use of end-user computing characterize the day-to-day work of experts. As a result, substantial efficiency potential cannot be realized, the use of AI is made more difficult, compliance requirements can sometimes only be met with great effort and ensuring consistent data requires additional measures and coordination.
The Credit Workplace relies on a significantly improved integration capability, introduces uniform and optimized data structures (e.g. when mapping assets) and enables the digitalization and automation of decision-making and risk processes. End-user computing applications can be scaled back and document-based process steps can be replaced by interactive dashboards tailored to the target group. The effort involved in recording, maintaining and copying data is significantly reduced, allowing employees to focus on the actual lending business and risk management. Overall, collaboration between employees within and between departments and with customers is significantly simplified.&#13;


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Michael Spiegel
“Thanks to the agile way of working in mixed teams of SAP Fioneer and pbb employees and the high level of commitment on all sides, the co-innovation was implemented on schedule,”
explains Michael Spiegel, Head of Operations &amp; Digitalization at pbb.
“The Credit Workplace has considerably simplified our lending process. The intuitive structure and specific dashboards help enormously to maintain an overview of the complex processes involved in lending, risk assessment and portfolio management and to always have up-to-date information available. In addition, a number of manual processes have been automated.”
Alexander Wehrmann
Dr. Alexander Wehrmann, Managing Director at SAP Fioneer, adds:
“Together with pbb as a strong and competent partner, we have established a new solution that not only comprehensively supports and substantially improves the processes for commercial real estate financing, but we have also taken an important step in expanding our product portfolio in commercial lending.”


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	]]></description><link>https://fintechnews.eu/sap-fioneer-and-deutsche-pfandbriefbank-launch-solution-for-commercial-real-estate-financing</link><guid>3641</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>SAP Fioneer and Deutsche Pfandbriefbank Launch Solution for Commercial Real Estate Financing</dc:text></item><item><title>World Bank Issues Digital Bond in Switzerland on the Blockchain</title><description><![CDATA[
									
					
							
					The World Bank priced the first CHF digital bond by an international issuer, which will settle using Swiss Franc wholesale Central Bank Digital Currency (wCBDC) provided by the Swiss National Bank (SNB).
This 7-year CHF 200 million digital bond, the largest World Bank CHF bond issuance since 2009, uses Distributed Ledger Technology (DLT) and advances the digitalization of capital markets while also supporting the financing of World Bank’s sustainable development activities.
The World Bank partnered with the SNB and SIX Digital Exchange (SDX) to further scale efforts in the use of DLT in capital markets. This partnership introduces the use of wCBDC by the SNB for initial settlement.&#13;


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The coupon and redemption payments will be made using tokenized CHF on the SDX. The SDX connects to conventional settlement systems such as Euroclear and Clearstream, via SIX SIS, allowing investors to hold the digital bond through their traditional custodians. The transaction follows the World Bank’s recent digital issuance on Euroclear’s Digital Financial Market Infrastructure (D-FMI) and builds upon its partnerships with core market infrastructure providers to scale digitalization efforts.
The bond is listed on both SIX Digital Exchange and the traditional SIX Swiss Exchange. The securities are governed by Swiss law. The bond was placed mainly in Switzerland, with banks, bank treasuries and corporates representing the majority share of allocations at 60%, followed by asset managers, insurance companies and pension funds at 39%. The remainder was placed with central banks and official institutions.
Jorge Familiar
“We are grateful for the opportunity to issue the first CHF digital bond as an international issuer. This achievement marks another significant step in the World Bank’s commitment to increasing capital markets’ efficiency through digitalization in partnership with central banks and central securities depositories. It builds on our previous accomplishments with bond-i and the issuance of digitally native notes last October,”
said Jorge Familiar, Vice President and Treasurer of the World Bank.
David Newns
“Being able to settle wholesale transactions in tokenized central bank money is a critical, foundational requirement for the adoption of a blockchain based capital markets infrastructure. Today, the World Bank takes the industry one step forward. SDX is truly delighted to have the World Bank’s first CHF-denominated digital issuance settle in wCBDC on our platform as part of the SNB’s groundbreaking initiative Project Helvetia. This is further testament of the World Bank’s pioneering innovation in the digital asset space,”
said David Newns, Head SIX Digital Exchange.
Commerzbank was the sole lead manager and is also the paying and issuer agent for this transaction.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/world-bank-issues-digital-bond-in-switzerland-on-the-blockchain</link><guid>3639</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>World Bank Issues Digital Bond in Switzerland on the Blockchain</dc:text></item><item><title>Innosuisse Appoints New Director</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 21, 2024
																				





					
					
							
					The new director of Innosuisse is Dominique Gruhl-Bégin. The Federal Council approved her appointment by the Innosuisse Board on 15 May 2024.
Innosuisse is the Swiss Innovation Agency. It is dedicated to promoting science-based innovation in the interest of industry and society in Switzerland. Innosuisse’s activities include funding innovation projects between companies and research institutes, both at the national and international levels. They also offer support for startups through training, coaching, internationalization offers, and participation in international trade fairs.
Ms Gruhl-Bégin will take over the position from 12 August 2024. The current director, Annalise Eggimann, is stepping down for reasons of age, but will continue in her role as chair of the Innosuisse 2024 presidency of TAFTIE, the European network of innovation agencies.&#13;


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Dominique Gruhl-Bégin
Dominique Gruhl-Bégin, who is a Swiss-Canadian dual citizen, has considerable experience in the field of innovation promotion. The 48-year-old is currently CEO of Serpentine Ventures, a subsidiary of the Swiss Ventures Group, which is involved in innovation funding and start-up support. She headed the Start-ups and Next-Generation Innovators division at Innosuisse between 2017 and 2022.
Ms Gruhl-Bégin graduated from the University of Montreal with a Master’s degree in Economics. She went on to complete a further Master’s degree in Art Gallery and Museum Studies at the University of Leeds.
She began her professional career as a research assistant at the University of Montreal before working as a management consultant and supply chain management specialist in the United States and Switzerland. Among other things, she worked at the Canadian Embassy in Bern as Trade Commissioner for Trade Relations and Innovation. In August 2016 she became deputy head of the Start-up and Entrepreneurship division in the secretariat of the then Commission for Technology and Innovation CTI. The following year she went on to head the Start-ups and Next-Generation Innovators division at Innosuisse.
Annalise Eggimann is stepping down as director of Innosuisse at the end of July 2024. Until her retirement in spring 2025, she will continue in her role as delegate and chair of the Innosuisse 2024 presidency of TAFTIE, the European network of innovation agencies.


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	]]></description><link>https://fintechnews.eu/innosuisse-appoints-new-director</link><guid>3638</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/New-Innosuisse-Director-Appointed-1440x564_c.jpg</dc:content ><dc:text>Innosuisse Appoints New Director</dc:text></item><item><title>Mastercard Debit Cards Are Forced to Lower Interchange Fee in Switzerland</title><description><![CDATA[
									
					
							
					Payments with debit cards are charged with fees, such as the interchange fee. COMCO settles with Mastercard on an interchange fee of 0,12 % for Swiss card-present transactions.
Last June, COMCO launched two investigations to find long-term solutions for domestic interchange fees for Visa and Mastercard debit cards. With Mastercard, COMCO quickly reached an amicable settlement.
For domestic card-present transactions, i.e. when the debit card is physically presented at the point of sale, COMCO settles with Mastercard on an interchange fee of 0,12 % with a cap at 30 cents for transaction amounts of CHF 300 and more. This solution is equivalent to an average rate of 0,1 %, which is considerably lower than the rate of 0,2 % by European regulations. The purpose of this settlement is to create a solid legal framework for all stakeholders involved with a view to enabling sound business decisions and to encourage innovation. Therefore, it cannot be terminated before 2033.&#13;


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Currently and related to previous proceedings of the competition authorities, for domestic payments made via the Web or mobile devices (e- or m-commerce) an interchange fee of 0,31 % is charged. Prior to the present investigation, the competition authorities and Mastercard agreed, that this rate will be lowered to 0,28 % as of November 1, 2025.
The settlement applies to Mastercard debit cards only and does not prejudge the findings of the simultaneously launched and ongoing investigation into domestic interchange fees for Visa debit cards for card-present transactions.
Domestic interchange fees are revenues that a Swiss card issuer (usually a bank) receives when its debit cards are used in Switzerland. Those fees are passed on by the acquirer as part of its merchant service charge to the company that accepts the card during the payment process (typically a merchant). Thereby the interchange fee is only one of numerous fee components of the merchant service charge.

Featured image credit: edited from Pexels


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	]]></description><link>https://fintechnews.eu/mastercard-debit-cards-are-forced-to-lower-interchange-fee-in-switzerland</link><guid>3637</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Mastercard Debit Cards Are Forced to Lower Interchange Fee in Switzerland</dc:text></item><item><title>Top 10 Fintech Events in UK and Ireland to Attend in H2 2024</title><description><![CDATA[
									
					
							
					The UK and Ireland boast thriving fintech sectors characterized by robust revenue growth, diverse innovation, and burgeoning startup ecosystems. The UK, renowned as a global fintech hub, leverages its rich financial services expertise, tech talent, and progressive regulations. It’s home to approximately 2,500 fintech firms, representing 11% of the global industry, data from the government show.
In Ireland, the fintech landscape has rapidly expanded, with over 280 indigenous and 130 international companies operating there, particularly in areas like payments, open banking, crypto, and crowdfunding, according to industry trade group Fintech Ireland.
Highlighting the prominence of fintech in both nations, Sifted’s inaugural leaderboard of the UK and Ireland’s fastest-growing startups reveals that nearly a third of the 2024 entries are from the fintech sector, totaling 31 startups. This makes fintech the most populous and successful startup vertical in the two countries based on revenue growth. Notable fintech companies featured include neobank Allica Bank, insurtech YuLife, lending business Tembo Money, and buy now, pay later (BNPL) startup Zilch.&#13;


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With fintech continuing to grow and evolve, a number of conferences and events are being organized in the UK and Ireland to facilitate networking and knowledge exchange among industry professionals. In this article, we delve into some of the most prominent fintech events taking place in the UK and Ireland during the second half of 2024, shedding light on their key themes and highlights.
The Fintech Summit 2024
May 16, 2024
Croke Park, Dublin, Ireland

Scheduled to take place on May 16, the Fintech Summit inaugural event is set to connect financial institutions with the fintech innovators revolutionizing the financial system.
With a focus on advancing the financial system’s efficiency and inclusivity, the summit will explore how cutting-edge technologies can be effectively utilized, regulated, and scaled. The event will feature panel discussions, keynote speeches, and masterclasses addressing the most pressing challenges and opportunities facing both emerging fintech startups and established financial services incumbents.  Additionally, it will provide ample opportunities for networking and business development.
Attendees can expect a comprehensive agenda designed to achieve two primary objectives: thought leadership and connectivity. They will also have access to one of Ireland’s largest fintech trade shows, facilitating connections with potential customers and partners. Various networking sessions and strategic business meetings will be organized to encourage meaningful interactions and collaboration among participants.
DIGIT Expo West
May 29, 2024
Scottish Events Campus (SEC) Centre, Glasgow, Scotland

DIGIT Expo West, scheduled for May 29, 2024, at the Scottish Events Campus (SEC) Centre in Glasgow, will bring together Scotland’s largest annual technology showcase to the forefront.
The event will feature a comprehensive conference program comprising keynotes, interactive workshops, panels, and an extensive exhibition hall, providing attendees with valuable insights, networking opportunities, and engagement with leading IT and digital vendors. The conference program will cover a wide range of themes, including cloud computing, DevOps, cybersecurity, digital leadership, and data innovation.
Key speakers at DIGIT Expo West 2024 include:

Ed Parsons, Geospatial Technologies, Google;
Cheryl Hung, Senior Director, Arm;
Faisal Kamrn, Principal Technology Analyst, Sony;
Elizabeth Fairley, COO, Talking Medicines;
James Maciver, CTO, Phlo;
Ayorinde Thompson John, Executive Director, JPMorgan Chase &amp; Co;
Dr. Sofiat Olaosebikan, Lecturer in Computer Science, University of Glasgow;
Marika Lohmus, Head of Risk &amp; Payments, Cleo;
Alison B Lowndes, Senior Scientist: Global AI, Nvidia; and
Euan Wielewski, Machine Learning Lead, NatWest.

Moreover, the exhibition at DIGIT Expo West will feature 50+ exhibitors, making it one of the largest gatherings of IT and digital vendors in the west of Scotland. Delegates will get to engage with leading solutions providers, experience live product demos, and participate in interactive games, enhancing their understanding of the latest technologies and solutions available in the market.
Dublin Tech Summit
May 29 – 30, 2024
RDS, Dublin, Ireland

The Dublin Tech Summit 2024, scheduled to take place on May 29 and 30 at the RDS in Dublin, is a two-day event poised to bring together global tech leaders, innovators, and entrepreneurs, with an expected attendance of over 8,000 participants and hundreds of speakers from around the world. The summit aims to showcase the latest technological advancements, highlight innovative ideas, and explore the future of tech in a rapidly evolving landscape.
This year’s edition will focus on emerging technologies like quantum computing and deep tech, positioning them as the new frontier of innovation. Discussions will also address the future of artificial intelligence (AI), emphasizing the importance of regulation and security in shaping a digital future. Speakers from diverse backgrounds, including tech innovators, social media influencers, and entrepreneurs, will share their insights on topics such as digital transformation, next-generation computing, startups, and global investing.
Dublin Tech Summit aims to foster collaboration, strengthen tech ecosystems, and facilitate networking opportunities to drive innovation and entrepreneurship forward. Since its inception in 2015, the summit has grown to become a significant event in the tech industry, providing a unique blend of Irish culture and global networking.
London Tech Week
June 10 – 14, 2024
Olympia, London, UK

Scheduled to take place from June 10 to 14, London Tech Week 2024 promises to be even more expansive than its previous editions, offering attendees unparalleled opportunities to showcase innovations and connect with their target audience. With the event expanding to the vast London Olympia campus, doubling its space, opportunities, and impact, participants can anticipate an extraordinary week filled with groundbreaking innovations and transformative experiences.
London Tech Week 2024 will bring together innovators, investors, tech giants, and entrepreneurs from over 90 countries, offering a platform for the global tech ecosystem to intersect with investment, innovation, and talent in the UK.
Attendees can expect visionary insights from cross-industry leaders, deep dives into the startup ecosystem, and engaging discussions on social impact from prominent figures in the realms of technology, business, and politics. Participants will also get to engage with top founders, industry experts, leading investors, and enterprise tech leaders, gaining inspiration and connections to thrive in the tech industry.
Highlighted themes for this year’s event include:

Artificial Intelligence: Exploring the ethics and real-world impacts of AI, fostering creativity, and enhancing efficiency;
The Future of Security and Data: Addressing the importance of securing data and privacy, and exploring proactive solutions and ethical responsibilities;
Tomorrow’s Talent: Discussing strategies for preparing for the evolving job market, including upskilling, talent retention, and lifelong learning;
The Deep Tech Revolution: Exploring radical innovation in AI, biotech, and beyond, and its impact on future industries;
Green Innovation: Harnessing technology for a sustainable future, with discussions on eco-solutions, circularity, and environmental sustainability; and
Empowering Entrepreneurship: Encouraging innovation, venture building, and disruption in various sectors.

London Tech Week 2024 will feature multiple stages, including the Main Stage, Start-Up Stage, and Corporate Innovation Stage, each hosting a range of sessions, panels, and presentations on diverse topics.
Customer Experience in Financial Services Conference 2024
June 18 – 19, 2024
etc.venues, London, UK

The Customer Experience in Financial Services Conference 2024, taking place on June 18 and 19 at etc.venues in London, aims to bring together professionals from banking and insurance sectors to explore the latest advancements in customer-centric and digital strategies. The conference is expected to host over 200 attendees, feature more than 15 exhibitors, and offer insights from over 20 speakers.
Targeted towards retail banks, wealth management firms, private banking institutions, insurance companies, and building societies, the Customer Experience in Financial Services Conference 2024 aims to offer a platform for collaboration and knowledge sharing on delivering enhanced customer experiences in a digital era.
Distinguished speakers from leading organizations such as Citi Bank, Saffron Building Society, Consumer Duty Alliance, and Monzo will deliver presentations, participate in panel discussions, and engage in Q&amp;A sessions, providing valuable insights into customer experience strategies and innovations.
Attendees can expect to delve into innovative content, including discussions on leveraging the metaverse for customer experience, digital inclusivity, updates on consumer duty regulations, brand management, achieving balance between hybrid, digital, and human interactions, data-driven personalization, and the application of AI in enhancing customer experiences. Participants will also get to engage with industry experts, initiate meaningful conversations, and explore potential partnerships vital for achieving their customer experience objectives.
MoneyNext 2024
June 19 – 20, 2024
ExCeL, London, UK

MoneyNext 2024, scheduled for June 19 and 20 at ExCeL in London, stands as a premier digital transformation event for financial services worldwide. The event will bring together four co-located industry-leading events: the Banking Transformation Summit, the Wealth Management Transformation Summit, the Insurance Transformation Summit, and the Lending Transformation Summit.
MoneyNext 2024 will offer a platform for connection with 2,500 financial services tech professionals, all united in their pursuit of delivering digital innovation and advancing their transformation journey. The event promises an immersive experience, with attendees granted access to all four co-located summits, offering a comprehensive view of the latest trends, ideas, and opinions from experts, innovators, and visionaries in the field.
Attendees will benefit from insights shared by 200 industry-leading speakers, who will illuminate their stories, visions, and innovations in the financial services sector.
Highlighted features of MoneyNext 2024 include:

Expanded Speaker Lineup: Visionaries from esteemed institutions such as Handelsbanken, Santander, Metro Bank (UK), Shawbrook Bank, Castle Trust Bank, Deutsche Bank, Standard Chartered, Recognise Bank, and more will contribute their insights;
Sponsor Support: Confirmed sponsors including Appian Corporation, Telefónica Tech, Pure Storage, Comarch, nCino, Inc., Version 1, Workday, Bud, Feedzai, among others, underscore the event’s significance in the industry; and
Roundtable Program: Featuring over 100 discussions, the roundtable program will offer participants the opportunity to engage as contributors or observers, covering a wide array of topics relevant to their interests and expertise.

CDAO Financial Services and Insurance UK 2024
September 11 – 12, 2024
London, UK

The CDAO Financial Services and Insurance UK 2024 conference, scheduled for September 11 and 12 in London, will offer a unique platform for data and analytics professionals serving the financial services industry to explore the latest trends and challenges in their field. With over 40 speakers, this year’s event will delve into critical areas such as data security, AI, and digital transformation.
Attendees will also have the opportunity to discover emerging trends and solutions providers to navigate evolving landscapes effectively. They will also get to engage with experts through a mix of panel discussions, roundtable sessions, and Q&amp;A opportunities, fostering interaction and collaboration within the financial services data and analytics community.
Moreover, the conference will provide a unique networking opportunity, allowing attendees to interact with industry leaders, influential technologists, and data scientists, learning from over 100 industry innovators sharing best practices and advice to improve data and analytics strategy.
Fintech Summit
September 25, 2024
Dynamic Earth, Edinburgh, UK

The Fintech Summit 2024, scheduled for September 25, at Dynamic Earth in Edinburgh, UK, will mark the 11th edition of the annual event and will serve as the launch event of the Scotland Fintech Festival. The summit will provide a platform for industry professionals to engage in discussions, share insights, and explore innovative solutions to navigate the evolving landscape of fintech in Scotland and beyond.
Amidst one of the most turbulent periods in modern history, the summit aims to explore the role of financial innovation in socio-economic recovery. The pandemic accelerated the adoption of mobile banking, digital channels, and cashless payment systems while underscoring the fragility of the economic system and the need for fast, frictionless finance.
The conference will reflect on the evolution of fintech against this backdrop of volatility, focusing on key trends, challenges, and market disruptions. It will discuss the opportunity for fintech to assist customers in managing the cost of living crisis and contribute to building a better future for the country.
Core conference topics include:

Landscape: Addressing the cost of living crisis, financial health, and sustainability;
Customer Strategy: Enhancing engagement, inclusion, user experience, and data insight;
Emerging Technologies: Exploring advanced analytics, AI and machine learning (ML), robotic process automation (RPA), blockchain, and mobile;
Regulation: Navigating GDPR, MiFID II, PSD2, and open banking; and
Infrastructure: Assessing IT, security, digitalization, cloud computing, mobile technologies, and “anything-as-a-service” (XaaS).

Fintech Talents Festival 2024
November 11 – 12, 2024
The Brewery, London, UK

The Fintech Talents Festival, scheduled this year for November 11 and 12, 2024, at The Brewery in London, stands as one of the UK’s largest and most impactful fintech festivals. The festival aims to serve as a platform for showcasing visionary ideas, practical innovation, and in-depth explorations of industry challenges across various sectors of financial services.
Marked as a two-day must-attend event, the 2024 Fintech Talents Festival is set to bring together over 2,000 participants, including global financial institutions, merchants, brands, marketplaces, digital platforms, technology enablers, innovators, and fintech startups. The attendees will comprise C-level executives, founders, as well as leaders in innovation and digital transformation from across the UK and Europe.
The 2024 Fintech Talents Festival promises to be an immersive experience, offering attendees a comprehensive view of the latest trends, innovations, and challenges in the fintech industry. Its content will span a wide range of topics and will include co-located events, each focusing on specific areas of interest:

Fintech Talents Festival: Explore a broad menu of fintech content, delving into the digital transformation of the financial services landscape. Engage in debates, discussions, and conversations designed to spark innovation and collaboration;
Future Identity Festival (co-located event): Gain insights from industry experts, technology leaders, and policymakers on the evolving landscape of identity and trust, exploring the latest developments shaping the future;
FTT AI Transformation Stage: Dive into the AI revolution within finance, examining internal strategies and the impacts of AI application in the fintech landscape;
FTT Embedded Finance and Customer Alpha Stage: Connect with a growing community of financial and non-financial brands exploring new pathways for delivering financial products and services through a range of distributors;
FTT Open Finance Stage: Explore the possibilities of open finance, evaluating new business models and the competitive landscape powered by open finance initiatives;
FTT Mutuals (co-located event): Unite with leaders from mutual finance sectors to future-proof and grow mutual finance institutions; and
FID Fraud and FinCrime Stage: Experience transformative discussions shaping the future of finance, identity security, and crime prevention, particularly focusing on how AI can revolutionize operations and enhance security in a digital world.

FMLS:24
November 18 – 20, 2024
Old Billingsgate, London, UK

FMLS:24, taking place from November 18 to 20, 2024, in London, invites participants to immerse themselves in the world’s financial epicenter. The event promises an exploration of trends, networking opportunities with industry leaders, and direct engagement with top speakers.
FMLS:24 is part of a series of events by Finance Magnates slated to captivate the financial industry in 2024. These gatherings offer unparalleled networking opportunities, knowledge sharing, and avenues for industry advancement.
These events aim to bring together industry leaders, professionals, and experts from across the globe to partake in meaningful discussions, explore innovative solutions, and shape the future of the financial sector. They focus on four key sectors, namely fintech, payments, online trading and digital assets.

Featured image credit: edited from Unsplash


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	]]></description><link>https://fintechnews.eu/top-10-fintech-events-in-uk-and-ireland-to-attend-in-h2-2024</link><guid>3636</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Top 10 Fintech Events in UK and Ireland to Attend in H2 2024</dc:text></item><item><title>Tenity Hires New Chief Investment Officer</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 15, 2024
																				





					
					
							
					Tenity announced that Andrea Fritschi has joined its leadership team as new Chief Investment Officer and Managing Partner, effective May 1st, 2024. Andrea takes over the role from Maximilian Derpa.
Andrea brings over 20 years of extensive experience from her tenure in private equity and venture capital investment management at Swiss Re and BlackRock, as well as from the entrepreneurial expertise she gained as founder and CEO of startup companies.
Her strong financial acumen and ability to thrive in both corporate and entrepreneurial environments will be pivotal as Tenity continues to expand its VC investment program in Fintech and Insurtech.&#13;


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Andrea Fritschi
“I am excited to advance Tenity’s VC investment offerings. The targeted investments aim to set new industry standards and catalyze significant innovation, driving the development of the financial ecosystem”,
says Andrea Fritschi, CIO at Tenity.
Andrea holds an MBA from IMD and has furthered her executive education at INSEAD, ensuring a strong academic foundation that complements her hands-on industry experience. Her vision and leadership will be instrumental in driving Tenity’s strategic growth and innovation.
Andreas Iten
“We are thrilled to welcome Andrea to the Tenity family,”
said Andreas Iten, CEO &amp; Managing Partner at Tenity.
“Her impressive track record and deep understanding of investment management and entrepreneurship will be invaluable as we scale our operations and enhance our investment strategies in the fintech and insurtech sectors.”


Featured image credit: edited from freepik



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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/tenity-hires-new-chief-investment-officer</link><guid>3635</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Tenity-Welcomes-Andrea-Fritschi-as-New-Chief-Investment-Officer-1440x564_c.jpg</dc:content ><dc:text>Tenity Hires New Chief Investment Officer</dc:text></item><item><title>8 Upcoming Fintech Events in South America to Attend in H2 2024</title><description><![CDATA[
									
					
							
					Latin America (Latam) is emerging as a hotbed for fintech innovation, driven by its young, tech-savvy population and government support for digital financial services.
In 2021, the number of fintech platforms in Latam and the Caribbean reached 2,482, soaring 112% from 2018, data from a report by the Inter-American Development Bank (IDB), IDB Invest and Finnovista show, underscoring the region’s increasing reliance on digital financial services.
At the same time, government initiatives like Brazil’s Pix and Mexico’s CoDi instant payment systems are further propelling the adoption of digital transactions and highlighting efforts by Latam governmental bodies to modernize their financial frameworks.&#13;


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As fintech continues to rise and evolve in Latam and South America, numerous conferences and events are being organized to facilitate networking and knowledge exchange among industry professionals. Today, we delve some of the most prominent fintech events in South America scheduled for in H2 2024, shedding light on their key themes and highlights.
Chile Fintech Forum 2024
May 14 – 15, 2024
Espacio Riesco, Huechuraba, Chile

The Chile Fintech Forum 2024, taking place on May 14 and 15 at Espacio Riesco in Huechuraba, Chile, will bring together over 3,000 attendees to explore Chile’s leadership in fintech.
Featuring more than 100 speakers, including policymakers and industry leaders, the forum will address critical issues in fintech such as regulatory frameworks, digital payments, and innovation. This year’s event, organized in partnership with Chócale as a media partner, seeks to position Chile as a fintech hub in Latam.
The forum will commence with remarks from Chile’s Finance Minister Mario Marcel, focusing on the impacts of current governmental policies. Subsequent discussions will delve into the regulatory landscape and digital currencies, led by public policy expert Ignacio Briones and Banco Central’s Alberto Naudon.
A highlight of the first day will include a panel on the current and future state of digital payments in Chile, featuring industry experts Rodrigo Quijada, Paola Ledezma, and Thiago Dias. They will analyze trends and challenges within the rapidly evolving local market. Later sessions will explore open finance, with insights from leaders like Roberto Opazo and Carlos Oviedo.
Day two will emphasize financial inclusion and ecosystem development, featuring contributions from Solange Berstein of the CMF and Nelson Rojas of Caja Los Andes. Notably, there will be discussions on regional financial growth with fintech leaders from across Ibero-America.
The forum will conclude with a discussion on the role of influencers in the fintech ecosystem, featuring Francisco Ackermann, Romina Capetillo, and David Ávila. Tickets for the event are available on the official Chile Fintech Forum website, where attendees can also engage in matchmaking and networking opportunities.
Money Expo Colombia 2024
May 15 – 16, 2024
Agora Bogotá, Centro de Convenciones, Bogota, Colombia

Money Expo Colombia 2024, scheduled to take place on May 15 and 16 at Agora Bogotá Centro de Convenciones in Colombia, will bring together traders, introducing brokers, investors, financial institutions, and brokers from the dynamic trading and investing community.
With over 3,000 visitors expected, 300+ financial brokers, 30+ speakers, and representation from more than 10 countries, Money Expo Colombia will offer a unique platform for individuals to expand their professional network, gain insights into fintech, stay informed, engage with experts, attend topical workshops, and connect with market leaders.
The event will offer a unique networking opportunity and facilitate interactions with industry-leading service providers to enhance skills, knowledge, and investment strategies. It will also feature a showcase of top brands in the financial field, offering their products and services in one convenient location.
Attendees will get to expand their knowledge through educational sessions led by speakers and industry experts, covering topics such as US stocks, commodities, metals, and other online trading products. Networking activities will also allow attendees to make meaningful connections with potential clients, partners, and investors. This includes one-on-one meetings, business discussions, panel discussions, and workshops where industry experts share insights on current market trends and best practices.
Febraban Tech 2024
June 25 – 27, 2024
Transamerica Expo Center, Sao Paulo, Brazil

Febraban Tech 2024, one of Brazil’s largest technology and innovation event in the financial sector, is set to celebrate its 34th edition from June 25 to 27, 2024, at the Transamerica Expo Center in Sao Paulo, Brazil. The event aims to serve as a platform for leaders from various sectors including finance, technology, sustainability, and agribusiness, as well as those interested in innovation, to engage in discussions on pressing topics in the digital economy.
With the central theme “The responsible journey in the new AI economy”, Febraban Tech 2024 aims to shed light on how the financial sector, along with the broader economy, is gearing up to responsibly leverage new resources and advancements in AI.
The event will feature thematic tracks addressing key areas such as:

Responsible AI: exploring trust, security, and business transformation;
Open finance and Pix: shaping Brazil’s influence on the global financial landscape;
DREX: examining opportunities and emerging trends in the tokenized economy;
The future vision of banks in ensuring cybersecurity;
Leveraging data intelligence to enhance customer loyalty;
Harnessing connectivity for next-generation financial services;
The role of cloud technology in driving agility, efficiency, and cost-effectiveness;
Cross-industry collaboration in the digital market landscape;
Agro 5.0 and the transformative potential of financial technology in agriculture;
The synergy between empathy and technology in shaping the modern workforce;
Advancing the environmental, social and governance (ESG) standards agenda in Brazil: transitioning, fostering inclusion, and promoting equity; and
Strengthening the financial sector and fostering inclusion through partnerships between fintechs and banks.

WebCongress Latam
August 08 – 09, 2024
Chamber of Commerce Bogotá Salitre, Bogota, Colombia

WebCongress Latam is a leading technology and digital transformation conference with 46 editions in 17 countries, dedicated to helping companies, entrepreneurs, creators, and future professionals engage actively in the new era of technology.
This year’s edition, scheduled for August 08 and 09, 2024, will focus on the pervasive role of artificial intelligence (AI) in various aspects of our lives, including strategies, campaigns, governments, creative ideas, and physical spaces. Attendees can expect a program featuring conferences, workshops, and networking sessions designed to provide a comprehensive view of the industry.
Renowned experts will share revolutionary ideas, strategies, and success stories in areas such as:

AI in key industries;
Virtual experiences;
The future of immersive content;
Social networks and content creation;
Digital transformation and data analysis;
Startup and entrepreneurship culture;
Digital culture and community building; and
Security, ethics, and privacy.

WebCongress events worldwide attract the entire industry and major companies, with sponsors and allies including brands like Meta, TikTok, LinkedIn, Samsung, Nvidia, Salesforce, Adobe, and Google, among others. This year’s event is expected to draw hundreds of decision-makers, agency owners, digital creators, and marketing directors, providing attendees with a valuable business experience and meaningful connections.
Volcano Innovation Summit 2024
August 31 – September 02, 2024
Hotel Casa Santo Domingo, Antigua, Guatemala

The Volcano Innovation Summit is a global initiative aimed at fostering innovation, science, and culture exchange, with a particular focus on incorporating Latam into the global network. Held in Antigua, Guatemala, from August 31 to September 02, the event will bring together world leaders from various fields including digital, corporate, financial, telecom, cyber, energy, and sustainability, and is expected to be attended by over 2,000 participants, 30 partners and more than 130 speakers.
The Volcano Innovation Summit 2024 will feature co-located events and sessions, in addition to cultural and social happenings. This includes Content Treks and immersive content journeys covering topics such as investment, technology, innovation, entrepreneurship, sustainability, inspiration, wellness, and fintech. Attendees can expect thought-provoking discussions, hands-on workshops, and networking opportunities with industry leaders and innovators.
The summit will also include the Startup Avenue Competition 2024, aimed at promoting an entrepreneurial culture in Latam and fostering innovation to drive economic growth. Additionally, the Volcano4Good philanthropy initiative will seek to make a real difference in Guatemala’s future by addressing core obstacles such as education, malnutrition, natural resources, and mobility.
ANDICOM
September 04 – 06, 2024
Cartagena de Indias Convention Center, Bolivar, Colombia

ANDICOM, held at the Cartagena de Indias Convention Center in Bolivar, Colombia, from September 04 to 06, 2024, aims to serve as a platform for high-level leaders and executives from the technology, real estate, financial sectors, as well as government and regulatory entities, to explore the latest trends and technological solutions.
Featuring a high-profile academic agenda, a commercial exhibition showcasing innovative solutions from leading technology companies in the region, and networking opportunities with decision-makers, ANDICOM strides to facilitate the strategic exchange of knowledge and the creation of key alliances for organizations.
Each day of the congress will focus on a specific theme:
Day 1 will emphasize the intersection of technology, business, and society, with a particular focus on AI as a catalyst for innovation. Attendees will learn about the effective application of emerging technologies and the importance of implementing ethical frameworks and appropriate regulations for social and business development.
Day 2 will center on innovation and the digital future, highlighting how creativity and human capacity shape tomorrow’s solutions. Topics will range from automation and data analysis to personalized experiences, promising efficiency, connectivity, transnational trade, and a more equitable world.
Finally, day 3 will shift the focus to digital ecosystems and tech trends applications, exploring how these ecosystems are driving innovation and business growth. Attendees will delve into the integration of emerging technologies and the practical application of technological trends, analyzing their impact on industries, global collaboration, sustainable development, and an inclusive digital economy.
Fintouch Brasil 2024
September 13, 2024
Rebouças Convention Center, Sao Paulo, Brazil

Fintouch Brasil 2024, scheduled for September 24-25 in São Paulo, Brazil, stands out as a premier fintech event in the country. Organized annually by ABFintechs, the event aims to serve as a vital platform for fostering discussions on the challenges encountered by fintech companies, covering topics such as innovation, business strategies, regulations, and sector trends.
Participants can expect engaging discussions, thought-provoking panels, and networking opportunities tailored to meet the specific demands of the fintech industry in Brazil.
Gartner CIO and IT Executive Conference
September 23 – 25, 2024
WTC Sheraton Sao Paulo, Sao Paulo, Brazil

The Gartner CIO and IT Executive Conference 2024, taking place from September 23 to 25 at the WTC Sheraton Sao Paulo in Sao Paulo, Brazil, will offer a gateway to a new era of possibilities for CIOs, IT leaders, and business executives. With a focus on leveraging digital and emerging technologies, especially AI and generative AI, the event aims to serve as a platform for strategic leaders to update enterprise governance and operating models and strategies.
The 2024 Gartner CIO and IT Executive Conference will addresse the strategic needs of enterprise IT leaders and their teams across various areas, including digital business strategy and execution, leadership development, culture and talent, technology and innovation, technology finance and value, cybersecurity, risk, and compliance, application strategy and modernization, infrastructure and operations, and more.
Highlights of the event include workshops, executive stories, social engagements, guest speakers, Gartner Magic Quadrant sessions and Market Guides, solution provider sessions, one-on-one meetings with Gartner experts, ask the expert sessions, and more.
Attendees can expect to explore innovative and transformational opportunities alongside a global community of experts and peers. With insights and expert guidance on digital business transformation, data value realization, the future of intelligent applications, building digital foundations, and mitigating cyber risks, participants will be equipped with the tools needed to support mission-critical priorities.
Through interactive and collaborative sessions, attendees will have the opportunity to connect with Gartner experts, industry-leading CIOs, and technology executives, fostering new relationships, gaining insights, and uncovering solutions to pressing challenges.

This article first appeared on fintechnews.am
Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/8-upcoming-fintech-events-in-south-america-to-attend-in-h2-2024</link><guid>3634</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>8 Upcoming Fintech Events in South America to Attend in H2 2024</dc:text></item><item><title>HSLU-Crowdfunding Monitor 2024: Volumenrückgang im Immobilien-Crowdfunding</title><description><![CDATA[
									
					
							
					Finanzierungen über das Internet erreichten im Jahr 2023 das zweite Mal in Folge einen Volumenrückgang. Abgenommen haben vor allem Immobilienfinanzierungen. Dies zeigt eine Studie der Hochschule Luzern.
Noch im Jahr 2021 verzeichnete der Crowdfunding-Markt mit 791.8 Millionen Franken ein Rekordvolumen. Seither sinkt es jedoch: 2023 betrug es 558.7 Millionen Franken und schrumpfte somit um 15.6 Prozent gegenüber dem Vorjahr. Dies zeigt der neueste Crowdfunding-Monitor der Hochschule Luzern (HSLU).
Starker Rückgang bei Immobilienfinanzierungen
Die einzelnen Segmente von Crowdfunding (siehe Definition in Box) haben sich unterschiedlich entwickelt. Crowdinvesting sank um 2.9 Prozent auf 131.5 Millionen Franken. Die markanteste Verschiebung ergab sich im Crowdlending: Hier verringerte sich das Volumen um 20 Prozent auf 398.1 Millionen Franken.&#13;


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Die Gründe für diese Entwicklungen sind gemäss den Studienautoren vielschichtig. Einerseits können höhere Zinsen eher hemmend auf die Kreditnachfrage wirken. Andererseits hängt das Wachstum von Teil-Sektoren wie den Immobilienfinanzierungen immer auch stark von der Entwicklung einzelner Plattformen und der Wettbewerbssituation ab.

Viele Plattformen – aber nur wenige sind relevant
In der Schweiz gab es per Ende 2023 insgesamt 36 Crowdfunding-Plattformen. Für die einzelnen Teilbereiche von Crowdfunding sind aber nur wenige Plattformen relevant. Im Crowdsupporting/Crowddonating erzielten die vier grössten Plattformen einen Marktanteil von 86 Prozent.
Beim Crowdlending erzielten die fünf grössten Plattformen einen Marktanteil von 80 Prozent und beim Crowdinvesting sind es sogar lediglich drei Plattformen, welche ein Volumen von 85 Prozent des Marktes auf sich vereinen können. Insgesamt wurden über 23 der 36 Plattformen überhaupt Crowdfunding- Projekte finanziert. Mehr als ein Drittel aller Plattformen wickelte demnach keine (oder in Ausnahmefällen nur sehr wenige) Projekte ab.
Hohe Erfolgsquote für Finanzierung von Sport- und Kulturprojekten
Crowdsupporting/Crowddonating blieb im Vergleich zum Vorjahr (-0.4 Prozent) stabil. Seit 2017 hat sich das jährliche Volumen zwischen 25 und 30 Millionen Franken eingependelt. Ausnahmen bildeten die von Covid-19 geprägten Jahre 2020 und 2021, in denen zahlreiche Unterstützungsprojekte über das Internet finanziert wurden und die Volumina entsprechend anstiegen.
Für Sport- und Kulturprojekte sei die Finanzierung über Online-Plattformen zu einem erfolgsversprechenden Standbein geworden, sagt Co-Studienautor Prof. Dr. Andreas Dietrich. Die Erfolgsquote sei in der Schweiz auch in einem internationalen Vergleich sehr hoch. Im vergangenen Jahr wurden über 75 Prozent der ausgeschriebenen Projekte auch tatsächlich finanziert. Auch der durchschnittliche Betrag, welcher pro Person in ein Projekt investiert wird, ist mit knapp 180 Franken hoch.
Andreas Dietrich
«Finanzierungsprojekte auf Schweizer Plattformen sind im internationalen Vergleich sehr erfolgreich. Wir führen dies auch auf die professionelle Betreuung bei der Projektfinanzierung durch die Schweizer Plattformen zurück»,
so der Studienautor.





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	]]></description><link>https://fintechnews.eu/hslu-crowdfunding-monitor-2024-volumenruckgang-im-immobilien-crowdfunding</link><guid>3633</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>HSLU-Crowdfunding Monitor 2024: Volumenrückgang im Immobilien-Crowdfunding</dc:text></item><item><title>Fintech Thrives Post-COVID-19 with Customer Growth Exceeding 50%</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 13, 2024
																				





					
					
							
					Post-COVID-19, the global fintech industry maintained its growth trajectory, driven by both increased consumer interest in fintech offerings and improved accessibility to digital financial services.
Findings from a study conducted by the Cambridge Centre for Alternative Finance (CCAF) and the World Economic Forum (WEF) unveiled that the fintech sector experienced robust customer uptake after the pandemic, achieving an average annual growth rate exceeding 50% across most major sectors from 2020 to 2022.
The survey, which polled over 200 fintech companies across five retail-facing industry verticals and six regions, found that fintech companies continued to expand after COVID-19. Except for digital capital raising, which witnessed a significant decrease linked to a challenging environment and rising interest rates, all verticals experienced robust year-on-year (YoY) customer growth rates since 2020.&#13;


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Notably, insurtech recorded remarkable growth, particularly between 2020 and 2021 (-76%), but experienced a slight decline between 2021 and 2022 (-66%). That drop is being largely attributed to the disproportionate impact of COVID-19 on insurtech in emerging markets and developing economies (EMDEs) where higher value claims, higher numbers of claims and a greater number of insurance policy lapses were observed. Digital payments also showed continued growth, rising slightly between 2021 and 2022 from 53% to 57% and reflecting the continued growth catalyzed during the COVID-19 pandemic.
Rate of customer growth 2020-21 and 2021-22 – by business model, Source: The Future of Global Fintech: Towards Resilient and Inclusive Growth, Cambridge Centre for Alternative Finance and the World Economic Forum, Jan 2024
Robust customer growth was observed across various regions, except in Sub-Saharan Africa (SSA), where rates were comparatively lower at 42% between 2020 and 2021 and then at 36% between 2021 and 2022 likely due to infrastructure challenges exacerbated during the pandemic. North America and the Middle East and North Africa (MENA) regions emerged as leaders in customer growth, driven by increasing digitization and structured regulations regarding digital payment methods, banking and credits.
Results of the study also reveal that consumer demand (51%) was the main driver of growth, a trend which is consistent across all regions.
Rate of customer growth 2020-21 and 2021-22 – by region, Source: The Future of Global Fintech: Towards Resilient and Inclusive Growth, Cambridge Centre for Alternative Finance and the World Economic Forum, Jan 2024
Challenges faced by fintech companies
Despite the positive growth trends, fintech companies are also encountering challenges. Macroeconomic factors, an unfavorable regulatory environment and poor funding environment were identified as the major growth hindering factors, noted by 56%, 47% and 40% of respondents, respectively, amid global inflation and interest rates across the globe.
Interestingly, while challenges varied, regulatory concerns were consistently ranked among the top three factors impacting fintech growth, reinforcing how critical regulation is for fintech growth.
Factors supporting or hindering fintechs’ ability to grow, Source: The Future of Global Fintech: Towards Resilient and Inclusive Growth, Cambridge Centre for Alternative Finance and the World Economic Forum, Jan 2024
Regionally, fintech companies faced different challenges, suggesting regional variations. European (52%) and North American (45%) fintech companies cited a highly competitive market as their primary challenge to scaling their services to additional or new customer sectors, while those in the MENA region emphasized high compliance requirements (52%). In Asia-Pacific (APAC), fintech companies identified consumer education as their most prevalent challenge (59%), followed by a highly competitive market (45%) and high compliance requirements (36%).
Most challenging factors in scaling services to additional or new customer segments – top factors by region, Source: The Future of Global Fintech: Towards Resilient and Inclusive Growth, Cambridge Centre for Alternative Finance and the World Economic Forum, Jan 2024
Advancing financial inclusion
Results of the study also underscore the role of fintech in advancing financial inclusion. Globally, female, low-income and rural or remotely-located customers constituted a substantial portion of fintech customer bases, averaging 39%, 40% and 27%, while contributing 39%, 26% and 31% of total transaction values, respectively. This trend was consistent across advanced economies (AEs) and EMDEs with small disparities.
Regionally, fintech companies in SSA and MENA recorded the highest proportions of low-income and rural or remotely located customers, with a 47% and 46% representation for low-income customers, as well as 34% and 32% for rural or remote customer segments, respectively.
MENA also led in challenging gender biases, with females constituting 45% of fintech companies’ total customer base, followed closely by APAC and North America at 42% and 41%, respectively. Female MENA customers also contributed nine percentage points more to transaction values than their customer base representation and accounted for 54% of the overall transaction values. In contrast, European fintech companies reported the lowest proportion of female transaction values, at 28%.
AI, the digital economy and embedded finance as the sector’s biggest trends
Looking ahead, fintech companies identified artificial intelligence (AI) as the most relevant topic for the industry’s development over the next five years. Nearly all verticals acknowledged the significance of AI to bring changes to business models, customer engagement and regulatory frameworks.
Embedded finance, the digital economy and open banking were all nearly tied as the second most relevant factors (53-54%). Surveyed companies said they expected the use of digital platforms to continue to grow, which would ultimately drive the digital economy and, in turn, the rise of embedded finance products. Finally, open banking and open finance are projected to play a critical role in enabling data sharing at scale with customer consent, fueling further innovations in business models and new products.
The most relevant, relevant and least important topics for fintech industry development in the next five years, according to fintech companies, Source: The Future of Global Fintech: Towards Resilient and Inclusive Growth, Cambridge Centre for Alternative Finance and the World Economic Forum, Jan 2024

Featured image credit: Edited from freepik



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	]]></description><link>https://fintechnews.eu/fintech-thrives-post-covid-19-with-customer-growth-exceeding-50</link><guid>3631</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Fintech-Thrives-Post-COVID-19-with-Customer-Growth-Exceeding-50-1440x564_c.jpg</dc:content ><dc:text>Fintech Thrives Post-COVID-19 with Customer Growth Exceeding 50%</dc:text></item><item><title>Alpian Closes CHF 76M Series C Round</title><description><![CDATA[
									
					
							
					Alpian, Switzerland’s digital bank for premium clients, announced the completion of the last step of its  Series C, totaling CHF 76M of which CHF 40M to be executed upon the regulatory approvals.
The CHF 40M investment has been led by Fideuram – Intesa Sanpaolo Private Banking with contributions from other existing investors enabling the former to have majority ownership upon achievement of all the required regulatory authorisations.
Accelerated Growth Amidst Innovation
Alpian has experienced strong growth in 2024. In the first four months of 2024 alone, the client base more than doubled to several thousand, and total client assets are rapidly nearing CHF 100 million.&#13;


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Strengthened Partnership and Strategic Ownership
Alpian’s strategic partnership with Fideuram – Intesa Sanpaolo, initiated in 2022, has been instrumental in fueling innovation. This collaboration would deepen, also as a result of Fideuram – Intesa Sanpaolo becoming Alpian’s majority shareholder (subject to customary regulatory approval), positioning Alpian to further transform digital wealth management within the Swiss banking landscape.
Gianmarco Bonaita
Gianmarco Bonaita, CEO of Alpian, says:
“This strategic development signifies strong validation of our achievements and our vision for the future. With the enhanced partnership and additional capital, we are poised for accelerated growth and continued redefinition of Swiss banking and wealth management.”






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			&#13;
				About Author&#13;
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		]]></description><link>https://fintechnews.eu/alpian-closes-chf-76m-series-c-round</link><guid>3632</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Alpian Closes CHF 76M Series C Round</dc:text></item><item><title>Tech Giants Lead Q1 2024 Market Surge; Fintech Maintains Momentum</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 8, 2024
																				





					
					
							
					In Q1 2024, public markets surged, led by tech giants, while the fintech sector maintained its momentum, a new report by London-based corporate finance advisory Royal Park Partners shows.
The report highlights that Royal Park Partners’ RRP Fintech Index, which tracks the performance of key fintech verticals, saw a 4% increase from its December 2023 value, a sustained growth which highlights the continued strength and expansion of the fintech sector, the report says.
Across the fintech verticals covered by the RPP Fintech Index, insurtech recorded the strongest growth, rising by a remarkable 61% quarter-on-quarter (QoQ). The rise of the insurtech index was largely driven by Root Insurance’s strong performances, with its stock price soaring approximately fivefold following the release of its “best-ever” Q4 results.&#13;


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Payments and capital markets witnessed more moderate growth at 5% and 4%, respectively, while the cryptocurrency and blockchain sector tumbled 16% QoQ. However, the crypto and blockchain vertical rebounded in the first months of 2024 and added 3% after the launch of the first spot bitcoin exchange-traded funds (ETFs) garnered substantial market momentum.
Breakdown of fintech verticals, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
Looking at key stock valuation measurement metrics, data show that payments recorded the lowest enterprise value-to-revenue (EV/R) and enterprise value to earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) multiples, standing at 2.6x and 9.5x, respectively. This makes payments the fairest priced and healthiest cohort of the verticals studied for Q1 2024.
EV/R and EV/EBITDA are two popular valuation tools that help determine if a stock is adequately priced. EV/R only considers the top line, focusing on a company’s revenue-generating ability, while EV/EBITDA, on the other hand, takes into account operating expenses and taxes, helping thus determine a company’s ability to generate operating cash flows.
Performances of the RPP Fintech Index and its indices, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
Private fintech funding
Private funding to fintech companies experienced a downturn in Q1 2024, with total capital deployed falling 45% QoQ while deal count dropped 10%. In total, US$7.8 billion were raised through 248 rounds in Q1 2024, a far cry from the US$14.1 billion closed across 276 deals in Q4 2023.
The crypto and blockchain vertical was a significant funding recipient, attracting 25% of all the funding rounds of Q1 2024. A total of US$1.3 billion was secured across 62 deals by companies in the sector during the quarter, representing a 30%+ QoQ increase in both deal count and value.
Crypto and blockchain financing activity, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
In terms of total funding value, banking and lending represented 29% of fintech funding in Q1 2024, underscoring several large mega-rounds of US$100 million and up, including Monzo (US$430 million), Svatantra (US$230 million), SK Finance (US$160 million) and Flagstone (US$139 million). Banking and lending startups raised a total of US$2.3 billion through 44 rounds, representing a 18% and a 35% QoQ decline in funding value and deal count, respectively.
Banking and lending financing activity, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
Geographically, North America remained the dominant region in fintech funding, receiving 40% of total invested capital in Q1 2024, followed by Europe with approximately 31%.
Private fintech funding in Q1 2024, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
Fintech M&amp;A
In Q1 2024, mergers and acquisitions (M&amp;A) activity remained dynamic, totaling US$62.6 billion through 240 deals. Payment and capital markets/wealth management led the sector, accounting for a staggering 82% of total M&amp;A transaction value.
Notable deals in Q1 2024 include Capital One’s landmark US$35.3 billion acquisition of Discover Financial Services, a deal which signaled a trend within the payments sector with companies consolidating to streamline operations and sharpen core business focus. Another notable deal in Q1 2024 is the US$7.2 billion merger of digital investment platform Webull with SK Growth Opportunities Corporation, a publicly traded special purpose acquisition company.
Like for private financing, North America led M&amp;A transactions in Q1 2024, making up 44% of total M&amp;A fintech deals and 82% of M&amp;A deal value. Europe followed closely, accounting for 36% of M&amp;A deals and 16% of M&amp;A deal value.
Fintech M&amp;A transactions in Q1 2024, Source: Q1 2024 Quarterly Fintech Market Update, Royal Park Partners, Apr 2024
The quarterly funding decline in the fintech sector reflects a continued downward trend observed in the global fintech funding landscape in 2022 and 2023 amid economic uncertainties, soaring inflation and a looming global recession.
However, some venture capital (VC) firms are optimistic about a rebound in 2024. Bukie Adebo Umeano, an investment principal at global investment firm Anthemis, told the Financial Brand in a recent interview that enough uncertainty has settled, and that VC firms are becoming more enthusiastic about investing. She anticipates an increase in deal activity, especially in embedded finance and pure play fintech.
Chuckie Reddy, a partner at American fintech VC platform QED Investors, told the publication that while deal activity may be more measured, the quality of deals has improved. He expects to make more investments in 2024 compared to the previous year, provided there are no major geopolitical events.
The equity market accelerated its growth in Q1 2024, with the S&amp;P 500 and NASDAQ rising 11% and 9%, respectively. This surge was driven by strong QoQ performances from five of the so-called “Magnificent 7” tech giants. Nvidia rose by a staggering 82%, while Meta, Microsoft and Alphabet recorded a notable 37%, 12% and 8% increase, respectively, the Royal Park Partners report shows.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/tech-giants-lead-q1-2024-market-surge-fintech-maintains-momentum</link><guid>3630</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Tech-Giants-Lead-Q1-2024-Market-Surge-Fintech-Maintains-Momentum-1440x564_c.jpg</dc:content ><dc:text>Tech Giants Lead Q1 2024 Market Surge; Fintech Maintains Momentum</dc:text></item><item><title>BIS Proposes Vision for New Financial System Built Around Tokenization and Platforms</title><description><![CDATA[
									
					
							
					A new paper by the Bank for International Settlements (BIS) presents the think tank’s vision for a new financial system dubbed the “Finternet”.
This new financial system involves multiple financial ecosystems interconnected with each other to empower individuals and businesses, and leverages innovative technologies such as tokenization and unified ledgers to expand the range and quality of financial services, lower barriers between financial services and systems, and promote access for all, the paper says.
Released on April 15, the paper lays out the BIS’ vision for the Finternet, arguing that this envisioned financial system could help address today’s financial system’s shortcomings, including the slow transactions, high costs and a lack of competition. These shortcomings are limiting the range of financial services on offer, especially in rural and low-income areas.&#13;


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While the report acknowledges that considerable progress has been made in recent decades, it notes that 1.4 billion adults are still excluded from the financial system. Lack of access is particularly acute in emerging market and developing economies (EMDEs) where only a quarter of adults used a savings account in 2022 and just about half borrowed that same year, it says. Moreover, in most EMDEs, insurance premiums per capita, also referred to as “insurance density”, are less than US$1,000 per year, and premiums relative to GDP, or “insurance penetration”, stand at less than half the level in advanced economies.
Access to financial services, Source: Finternet: the financial system for the future, Apr 2024
In response to these shortcomings, the paper identifies technological innovations as potential solutions, exploring the prospects of tokenization and artificial intelligence (AI) in revolutionizing the financial system through faster service, lower costs, and greater choice to users.
Tokenization involves creating digital representations of financial or real assets on a programmable platform. The technique simplifies asset trading, enables more complex asset transfers, and alleviates bottlenecks in the financial system by reducing dependency on intermediaries.
Another technology with significant potential impact is large language models (LLMs) and AI. LLMs are AI systems capable of understanding and generating human-like text. Applications of these models has the potential to transform financial systems, allowing financial institutions to quickly identify and respond to suspicious activities, streamline compliance processes and streamline many back office tasks.
The “Finternet”
The paper then introduces the concept of the Finternet as a vision for the future financial system. In this vision, the Finternet comprises a network of interoperable financial ecosystems through which individuals and businesses are able to transfer any financial asset at any time, to anyone anywhere in the world and using any device.
The paper proposes a token-based financial system supported by unified ledgers. These unified ledgers would contain digital representations of central and commercial bank money and other tokenized financial assets. Within a given ledger, different types of assets would reside in separate partitions that would be owned and operated by their respective operating entities, or so-called “token managers”.
Unified ledgers would also include the information necessary for their operation, such as the data required to ensure the secure and legal transfer of money and assets, as well as real-world information sourced from outside the ledger.
Individuals and businesses would interact with these ledgers through applications. These applications would allow users to conduct transactions within individual ledgers, between ledgers or in exchange for assets that exist outside the Finternet.
According to the BIS, unified ledgers offer transformative potential by streamlining transactions, enhancing security and increasing transparency. Equipped with tokenized assets, these ledgers would reduce the need for lengthy messaging, clearing and settlement systems. They would enable programmable transactions and greatly simplify compliance processes, and would meet the regulatory and supervisory standards that are required in today’s financial system.
The high-level architecture of the Finternet, Source: Finternet: the financial system for the future, Apr 2024
To combat financial fraud like impersonation, circumvention, and compromise, the Finternet would employ advanced mechanisms including identity verification, real-time authentication, and smart contracts for compliance.
Internal threats would be addressed through automated monitoring and immutable records, deterring fraud and manipulation, while social engineering attacks would be countered with educational programs, behavioral analytics, and multi-factor authentication. Compliance would be automated through smart contracts, with regulatory requirements such as know-your-customer (KYC) and anti-money laundering and the countering the financing of terrorism (AML/CFT) directly programmed into the system.
The BIS argues that its vision for the Finternet could bring about a broader range of services and assets, increase flexibility in financial management, and enable faster, more secure transactions accessible to everyone. According to the organization, emerging markets, where financial services access is most pervasive and the potential to leapfrog to the technological frontier is the greatest, stand to benefit the most.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/bis-proposes-vision-for-new-financial-system-built-around-tokenization-and-platforms</link><guid>3629</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>BIS Proposes Vision for New Financial System Built Around Tokenization and Platforms</dc:text></item><item><title>Checkout.com and Mastercard Partner to Bring Virtual Cards to Online Travel Agents</title><description><![CDATA[
									
					
							
					Checkout.com, a leading global digital payments provider, has announced a partnership with Mastercard to bring virtual cards to Online Travel Agents.
As part of the Mastercard Wholesale Program, which reduces costs for travel businesses through virtual card technology and an innovative pricing model, customers of Checkout.com will be able to pay their suppliers more easily and benefit from higher conversion rates by issuing virtual cards.

George Simon
“Mastercard remains committed to powering the travel economy with digital payment solutions that provide greater flexibility, visibility, and protection. Over 400,000 travel providers worldwide already rely on us to enable payments through the Mastercard Wholesale Program, and we’re thrilled to be collaborating with Checkout.com to support their customers to embrace the next generation of payment solutions for B2B travel,”&#13;


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said George Simon, EVP, Market Development, Mastercard Europe.
Meron Colbeci
‍“We’re delighted to partner with Mastercard to complement our virtual card issuing solution, enabling Online Travel Agents to unlock new revenue streams and deliver a connected customer experience. Together we’ll offer higher payment performance to travel merchants by combining the Mastercard Wholesale Program with our single integration connecting acquired sales to issued cards, which unifies acquiring and issuing, for better cash flow management”,
said Meron Colbeci, Chief Product Officer at Checkout.com.


This article first appeared on fintechnews.ae


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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/checkoutcom-and-mastercard-partner-to-bring-virtual-cards-to-online-travel-agents</link><guid>3628</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Checkout.com and Mastercard Partner to Bring Virtual Cards to Online Travel Agents</dc:text></item><item><title>Securitize Announces $47 Million Strategic Funding Round Led by Blackrock</title><description><![CDATA[
									
					
							
					Securitize, a leader in tokenizing real-world assets announced last week the successful completion of a $47 million funding round led by BlackRock.
The strategic investment also includes funding from Hamilton Lane, ParaFi Capital, and Tradeweb Markets.
This investment underscores Securitize’s industry pioneering efforts in digitizing capital markets with blockchain technology. The contributed capital will fuel Securitize’s continued innovation and expansion as it further solidifies its position as a leader in the digital asset securities ecosystem.&#13;


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As part of the investment, Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize’s Board of Directors.
Carlos Domingo
“We are thrilled to have the support of such distinguished investors as we continue to drive the digitization of capital markets through tokenization,”
said Securitize Co-Founder and CEO Carlos Domingo.
“In our view, the transformative potential of blockchain technology to reshape the future of finance in general – and tokenization in particular – is promising.”
Joseph Chalom
“At BlackRock, we believe that tokenization has the potential to drive a significant transformation in capital markets infrastructure. Our investment in Securitize is another step in the evolution of our digital assets strategy,”
said Joseph Chalom.
“We are pleased to lead this investment round alongside other participants and help foster innovation that will help meet the future needs of our clients.”

Other strategic investors in the round include Aptos Labs, Circle and Paxos. Securitize will leverage the proceeds of the funding round to accelerate product development, expand its global footprint, and further strengthen its partnerships across the financial services ecosystem.
The funding round coincides with the launch of BlackRock’s first tokenized fund issued on Ethereum, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), available to investors by subscribing to the fund with Securitize.
BUIDL seeks to offer a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets as new tokens each month. The Fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements, allowing investors to earn yield while holding the token on the blockchain.
Investors can transfer their tokens 24/7/365 to other pre-approved investors. Through Circle, BUIDL holders can transfer their shares to Circle for USDC through its smart contract functionality. Fund participants will also have flexible custody options allowing them to choose how to hold their tokens.

Featured image credit: Securitize Co-Founder and CEO Carlos Domingo, edited from freepik


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	]]></description><link>https://fintechnews.eu/securitize-announces-47-million-strategic-funding-round-led-by-blackrock</link><guid>3626</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Securitize Announces $47 Million Strategic Funding Round Led by Blackrock</dc:text></item><item><title>Neon und Invesco lancieren kostenlose ETF-Sparpläne für die Schweiz</title><description><![CDATA[
									
					
							
					Lange schauten Herr und Frau Schweizer – oftmals sogar neidisch – auf die Anlagemöglichkeiten vieler EU-Nachbarstaaten. Das gebührenfreie, monatliche Ansparen in börsenkotierte Fonds (ETFs) war bis anhin in der Schweiz nicht möglich. Nun hat das Warten ein Ende.
Allerdings, vorerst nur für ein par wenige ausgewählte Invesco ETF.
Invesco und der Banken-Challenger neon erweitern ihre Partnerschaft. Ab sofort bieten sie ETF-Sparpläne an, die gebührenfrei gehandelt und ohne Depotgebühren gehalten werden können.&#13;


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Die gemeinsame Initiative zielt darauf ab, den Zugang zu ETFs weiter zu demokratisieren und Anlegern und Anlegerinnen die Möglichkeit zu geben, ihren Vermögensaufbau deutlich einfacher und effizienter umzusetzen. Das Angebot eines monatlichen, kostenlosen ETF Sparplans auf dem Schweizer Markt wurde in der hiesigen Anlagelandschaft bisher so nicht angeboten. Inspiriert von erfolgreichen Modellen in EU-Ländern wie Deutschland und Italien wollen beide Häuser damit in der Schweiz eine neue Ära zugänglicher undkostengünstiger Anlagelösungen einläuten.
Im Gegensatz zu herkömmlichen Anlagemöglichkeiten, die teilweise mit komplexen und exorbitanten Handels- oder Depotgebühren belastet sind, bietet die benutzerfreundliche Investment-App neon kostenfreien Zugang zu ausgewählten ETF-Sparplänen von Invesco an. Als Banken-Challenger beseitigt neon die Barrieren, die in der Schweiz typischerweise immer noch mit traditionellen Anlageinstrumenten verbunden sind, wie eine komplizierte Zusammenstellung und hohe Gebühren für kleinere Anlagesummen. Die Plattform ermöglicht, dass Anleger und Anlegerinnen ihre Rendite maximieren können, ohne durch unnötige Kosten belastet zu werden.

Zu den wichtigsten Merkmalen des ETF-Sparplans gehören:

Kostenfreies Anlegen: Anleger können den ETF-Sparplan nutzen, ohne sich Gedanken über zusätzliche Kosten machen zu müssen, wie Depot- und Devisenkosten. Zudem gibt es bei ausgewählten ETFs keine Handelsgebühren beim Kauf.
Automatisierte Anlage über mehrere Wertschriften direkt vom Konto: Die einfache Einrichtung eines Sparplans und die breite Auswahl von ETFs ermöglicht eine mühelose und diversifizierte Vorsorge.
Flexible monatliche Sparraten ab 1 CHF: Ohne Mindestsparrate und frei wählbarem Verkaufszeitpunkt können Anleger und Anlegerinnen ihre Investmentstrategie flexibel auf ihre finanziellen Ziele und Präferenzen abstimmen.

Nima Pouyan
«Als ETF-Anbieter setzen wir in der Schweiz neue Anlagestandards. Wir sind innovativer Vorreiter unter den Vermögensverwaltern und machen den Zugang zu attraktiven ETFs für Privatkunden besonders einfach, digitalisieren sie und reduzieren die Kosten deutlich»,
kommentiert Nima Pouyan, Head of Institutional Business &amp; ETF bei Invesco Schweiz &amp; Liechtenstein, die Lancierung.
Die Einführung des ETF-Sparplans kann die traditionellen Angebote der Banken auf den Kopf stellen und die Zugänglichkeit von ETF-Investitionen für Schweizer Anleger verbessern. Mit Invesco als Vorreiter ist zu erwarten, dass andere Branchenakteure diesem Beispiel folgen und den Druck auf konventionelle Finanzinstitute verstärken werden, sich an die sich verändernden Anlegerpräferenzenanzupassen.
Timo Hegnauer
«Die Einführung von einfachen Sparplänen stand schon lange oben auf der Wunschliste unserer Depotnutzer. Zusammen mit Invesco konnten wir auch auf der Gebührenseite noch einen Schritt weiter gehen und nun das schweizweit erste Angebot mit gebührenfrei zugänglichen ETF Sparplänen1 in der Schweiz schaffen»,
freut sich Timo Hegnauer, Head of Investment Products bei neon.
«Wir sind zuversichtlich, dass man mit solchen, attraktiven Angeboten in den nächsten zwei Jahren ein starkes Wachstum auf 500’000 aktive ETF-Sparpläne im Schweizer Markt sehen wird»,
so Hegnauer weiter.


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	]]></description><link>https://fintechnews.eu/neon-und-invesco-lancieren-kostenlose-etf-sparplane-fur-die-schweiz</link><guid>3627</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/10-Fintech-Finalists-for-ventures-2024-Startup-Competition.jpg</dc:content ><dc:text>Neon und Invesco lancieren kostenlose ETF-Sparpläne für die Schweiz</dc:text></item><item><title>Global Venture Capital Funding Rises 11% Driven by Large Gen AI Deals</title><description><![CDATA[
									
					
							
					Venture capital (VC) funding increased by 11% in Q1 2024, driven by massive deals in generative artificial intelligence (gen AI), including Amazon’s US$2.75 billion investment in Anthropic and Alibaba’s US$2.5 billion investment in Moonshot AI, new data released by business analytics platform CB Insights show.
This surge underscores the ongoing enthusiasm for gen AI among investors, with major tech players viewing it as a pivotal innovation catalyst, promising efficiency enhancements and new market opportunities.
This momentum in gen AI builds on the sector’s remarkable performance in 2023 during which VC funding shot up five times compared to the previous year while deals increased by 66%. In 2023, gen AI startups amassed a record-breaking US$21.8 billion across 426 deals, data from CB Insights reveal, with the largest deals going to OpenAI (US$10 billion), Inflection AI (US$1.3 billion), Anthropic (US$1.8 billion), Databricks (US$504 million) and Aleph Alpha (US$500 million).
Disclosed generative AI equity funding and deals, Source: State of Generate AI 2023, CB Insights, Feb 2024
Booming investment activity in gen AI helped sustain global VC funding, which increased slightly in Q1 2024 and reached US$58.4 billion, up from US$52.8 billion in Q4 2023, the data show. However, the figure represents a 21% year-over-year (YoY) decline compared to Q1 2023’s US$74 billion, putting quarterly VC funding roughly where it was in 2017.
Quarterly equity funding and deals, Source: State of Venture Q1 2024, CB Insights, Apr 2024
Meanwhile, VC dealmaking continued to decline in Q1 2024, slipping for an eighth straight quarter and falling 7% quarter-on-quarter (QoQ) to 6,238. Asia and Europe saw 8% and 9% declines, respectively, in VC deal activity, while the US bucked the global trend, seeing deals tick up 1% QoQ.
Mega-rounds rise 30%
VC rounds worth US$100 million and over, also known as mega-rounds, were the bright spot in Q1 2024, increasing by 30% quarter-over-quarter (QoQ) and by 14% YoY to reach 105 rounds. Corporate investors like Amazon, Disney, and Alibaba were behind some of the quarter’s largest rounds, pointing to investors’ sustained interest in blockbuster deals in capital-intensive areas, the report says.
At US$26.2 billion, funding from mega-rounds represented 45% of Q1 2024’s total funding, a rebound from 34% in Q4 2023.
Quarterly mega-rounds as percent of funding, Source: State of Venture Q1 2024, CB Insights, Apr 2024
Q1 2024 saw 19 startups reach unicorn status, down slightly from 23 in Q4 2023. These new billion-dollar companies were distributed across the US (8 new unicorns), Asia (6), and Europe (5).
Europe’s total, which represented a five-quarter high in unicorn births for the continent, included new unicorns like Italy’s Bending Spoons (US$2.6 billion valuation) and Netherlands-based Mews (US$1.2 billion).
Fintech faces decline
Data from CB Insights show that the fintech sector experienced a setback. In Q1 2024, fintech startups amassed a total of US$7.3 billion through 904 VC rounds, down 16% from US$8.7 billion in Q4 2023 but up 13% from 786 deals. The figures represent a 119% YoY decline in VC funding and a 40.6% YoY decline in deal count.
Quarterly fintech equity funding and deals, Source: State of Fintech Q1 2024, CB Insights, Apr 2024
The fintech sector also saw its new unicorn count slip from eight in Q4 2023 to six in Q1 2024. Notable additions to the unicorn club in Q1 2024 include HashKey from Hong Kong, Mews and DataSnipper from the Netherlands, Uzum from Uzbekistan, Perfios from India and Polyhedra Network from the US.
Europe stood out as the only major global region to see fintech funding increase in Q1 2024, growing by 22% QoQ to US$2.2 billion. In the continent, the UK and the Netherlands secured some of the quarter’s biggest deals, with examples including Monzo’s US$431 million Series I (UK), Flagstone’s US$139 million round (UK), Mews’ US$110 million Series D (Netherlands), and DataSnipper’s US$100 million Series B (Netherlands).
The quarterly funding decline in the fintech sector reflects a continued downward trend observed in the global fintech funding landscape in 2022 and 2023. This trend has been driven by economic uncertainties, soaring inflation and a looming global recession. Global fintech funding dropped by 50% in 2023, falling from US$78.6 billion in 2022 to US$39.2 billion. These figures are a far cry from the record of US$140.8 billion secured in 2021.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/global-venture-capital-funding-rises-11-driven-by-large-gen-ai-deals</link><guid>3625</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Disclosed-generative-AI-equity-funding-and-deals-Source-State-of-Generate-AI-2023-CB-Insights-Feb-2024.png</dc:content ><dc:text>Global Venture Capital Funding Rises 11% Driven by Large Gen AI Deals</dc:text></item><item><title>ComplyAdvantage Acquires Financial Crime Intelligence Provider Golden</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 3, 2024
																				





					
					
							
					ComplyAdvantage, a leader in financial crime intelligence, announced its acquisition of Golden.
Golden is a San Francisco-based innovator automating the construction of one of the world’s largest knowledge graphs, which shows interconnected data points and their relationships for the purpose of analyzing complex information.
Financial institutions and other regulated entities are required by law to ensure the people and organizations they choose to do business with are legitimate and that the transactions they facilitate are legal.
ComplyAdvantage uses AI and machine learning to parse through a continuously updated database of entities to give clients the most accurate 360-degree view of financial crime risk. As clients respond to alerts, a feedback loop continuously enriches the insights ComplyAdvantage provides. Golden’s data extraction and disambiguation using sophisticated natural language processing will bring additional disparate data sources into ComplyAdvantage’s data ingestion layer to provide clients with even more comprehensive real-time financial crime risk insights.
As part of the acquisition, Andreessen Horowitz (a16z) joins an illustrious group of leading technology investors, including Goldman Sachs, Ontario Teachers’ Pension Plan, Index Ventures, and Balderton Capital.
This announcement comes on the back of continued momentum for ComplyAdvantage as the scale-up continues its impressive growth, significantly expanding its client roster since the last fundraising round led by Goldman Sachs. The acquisition also strengthens ComplyAdvantage’s foothold in North America, with Golden bringing an extensive base of US customers.
Vatsa Narasimha
“Delivering AI-enriched financial crime insights to our customers through a best-in-class user experience built on the most interconnected data has been our north star at ComplyAdvantage since day one. The acquisition of Golden is a critical milestone on that journey,”
said Vatsa Narasimha, CEO of ComplyAdvantage.
“We are excited to welcome their talented team to the ComplyAdvantage family, alongside a16z, who bring powerful expertise as we embark on the next phase of our growth journey.”
Jude Gomila
Jude Gomila, Golden founder and CEO, who will join ComplyAdvantage as a board observer and special advisor, added:
“I have known Charlie Delingpole, the founder of ComplyAdvantage, since 2005, and I am thrilled to bring together our capabilities. By combining our experienced team of AI and large language model (LLM) specialists with ComplyAdvantage’s industry-leading data science team, we are creating a global team of data experts. Together, I’m confident we will transform financial crime risk management for businesses worldwide.”

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/complyadvantage-acquires-financial-crime-intelligence-provider-golden</link><guid>3624</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/ComplyAdvantage-Acquires-Golden-Expanding-Financial-Crime-Intelligence-Offering-1440x564_c.jpg</dc:content ><dc:text>ComplyAdvantage Acquires Financial Crime Intelligence Provider Golden</dc:text></item><item><title>New WEF Report Explores the Potential of wCBDC to Advance Financial Markets</title><description><![CDATA[
									
					
							
					In a new report released on April 16, the World Economic Forum explores the potential of wholesale central bank digital currencies (wCBDCs) to address challenges in financial markets, improve settlement efficiency and tap into new market opportunities.
The report, titled Modernizing Financial Markets with Wholesale Central Bank Digital Currency (wCBDC) and produced in collaboration with Accenture, outlines key areas wCBDCs can provide unique value, highlighting their potential to establish a “global settlement window” to synchronize different settlement times. It also discusses how wCBDCs could improve data sharing to reduce operational risks and settlement failures, broaden payment-versus-payment (PvP) arrangements to address foreign exchange (FX) risk, and enable central bank money to settle transactions involving tokenized securities.
Boosting settlement efficiency
The first opportunity involves addressing the challenges stemming from disparate settlement cycles across regions and the lack of a global settlement window – challenges that are increasing settlement, counterparty and technology risks.
Real-time gross settlement (RTGS) system operating hours on working days for CPMI (Committee on Payments and Market Infrastructures) jurisdictions, Source: Modernizing Financial Markets with Wholesale Central Bank Digital Currency (wCBDC), World Economic Forum/Accenture, Apr 2024
Efforts to move towards shorter settlement cycles, such as transitioning from T+2 to T+1, are underway and aim to increase liquidity availability, reduce counterparty risk, and lower market and liquidity risk. There is also anticipation for T+0 settlement to become an industry standard in the future.
Implementing a global settlement window using wCBDCs could ensure settlement finality round the clock,  the report says, providing advantages like mitigating liquidity and credit risk, optimizing settlement window accessibility, and streamlining multi-asset transactions across different regions.
Addressing operational risks
The second opportunity outlined relates to addressing operational risk and reducing settlement failures in securities markets that stem from data quality issues, limited interoperability, and manual processes.
Settlement failures and delays are increasingly common due to factors such as market volatility, liquidity constraints, and legacy systems. Data from the Swift network covering cross-border settlement and reconciliation flows, show that about one out of every ten securities transactions requires correcting or ends up failing. These incidents are increasing, with a 9% growth in cancelled instruction rate and a 16% increase in late settlements between 2020 and 2022.
To address these issues, the report proposes mutualizing data sharing using wCBDCs. In this application, wCBDCs could address information asymmetry issues by providing a trusted platform for data sharing among market participants, potentially accelerating the settlement cycle and reducing manual reconciliation efforts. Distributed ledger technology (DLT) is highlighted as a promising tool for enhancing trade and post-trade activities and improving transparency.
Reducing FX settlement risks
The third opportunity relates to addressing foreign exchange (FX) settlement risk stemming from limited accessibility and affordability of PvP arrangements globally.
Expanding PvP arrangements using wCBDCs could optimize FX markets by facilitating affordable and accessible multilateral PvP arrangement mechanisms, supporting flexible currency conversion arrangements for emerging market currencies, and expanding access to non-domestic and non-bank institutions to trade currencies.
Projects like mBridge demonstrate how wCBDCs can increase accessibility to PvP arrangements by facilitating direct bilateral connectivity between banks, supporting local currencies, and reducing settlement risk.
Tapping into the tokenized asset opportunity
Finally, the fourth opportunity outlined in the report relates to the increasing tokenization of assets and the need for corresponding tokenized cash to support settlement processes.
Tokenization of assets involves creating digital tokens representing various assets like real estate, equities, and cash. This process is seen as a key use case for blockchain, promising improved accessibility to financial services through fractionalization. Citi estimates point towards US$4-5 trillion in tokenized securities on DLT by 2030.
Tokenization total addressable market in trillions of US dollars, Source: Citi, March 2023
The report highlights examples of rising tokenized asset adoption, particularly in the bond market, with projects like Project Genesis and Project Evergreen in Hong Kong demonstrating the feasibility of using blockchain and smart contracts for tracking and settling securities tokens. Money market funds are also seeing growth in tokenization, with Franklin Templeton’s tokenized MMF surpassing US$270 million in assets under management in April 2023.
The report says that in the case of asset tokenization, wCBDCs could allow for the settlement of financial transactions using base money, eliminating counterparty risk, improving financial stability and reducing costs for market players who rely on privately issued monies.
Challenges remain
Central banks around the world are actively exploring the potential benefits of CBDCs, investigating their merits to improve process efficiencies, reduce risks and facilitate trade. Data from the Atlantic Council show that a staggering 130 countries were exploring a CBDC in November 2023, representing 98% of the world’s gross domestic product.
But despite their potential advantages, industry stakeholders are also warning of the pitfalls of CBDCs. A 2023 paper by Patrick Schueffel, adjunct professor at the Institute of Finance of Fribourg’s School of Management, outlines several drawbacks of CBDCs, including concerns about privacy infringement due to increased government surveillance of financial transactions, potential restrictions on spending and transactions imposed by authorities, and the risk of freezing or blocking accounts of individuals or organizations engaged in suspicious activities.
The report also stresses that CBDCs are vulnerable to cybersecurity attacks, account and data breaches, and theft. A successful hack could result in electronic counterfeiting of money, the theft of funds, or even to a disruption of the financial system, the report says.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/new-wef-report-explores-the-potential-of-wcbdc-to-advance-financial-markets</link><guid>3623</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/05/Real-time-gross-settlement-RTGS-system-operating-hours-on-working-days-for-CPMI-Committee-on-Payments-and-Market-Infrastructures-jurisdictions.png</dc:content ><dc:text>New WEF Report Explores the Potential of wCBDC to Advance Financial Markets</dc:text></item><item><title>PayPal Ventures to Ramp Up Investments in AI, Cybersecurity, Crypto</title><description><![CDATA[
									
					
							
					PayPal Ventures, the investment arm of the online payment firm, plans to increase its investment activity to keep up with technological advancements, seeking investment opportunities in fields such as artificial intelligence (AI), cybersecurity, employee benefits and stablecoins, James Loftus, managing partner at PayPal Ventures, told Global Venturing in an interview.
Discussing PayPal Ventures’ strategies and investment focuses for the years to come, Loftus said the fund will be shifting towards placing more emphasis on early-stage ventures, especially in Series A rounds. This move aims to gain valuable insights and strategic advantages early on.
Investing in early-stage startups allows PayPal Ventures to stay innovative, agile, and competitive in the dynamic fintech landscape, while also positioning the company for long-term success and growth.
These companies are often at the forefront of innovation, developing new technologies, products or business models that have the potential to disrupt existing industries. They can provide PayPal with access to cutting-edge innovation and emerging trends that drive future growth and which set the online payment company apart from competitors.
Investment focuses
Loftus highlighted some of the investment areas PayPal Ventures is targeting. One significant target is AI, with Loftus emphasizing the necessity for AI tailored for corporate use.
“Right now, there’s an opportunity for true experts to build AI. There’s a gap,” Loftus said. “Open AI has built an amazing tool that has opened up the world’s eyes to AI; but at the enterprise level, there needs to be different layers.”
PayPal Ventures recently launched an AI fund to invest in early-stage AI startups. It’s eyeing applications of the technology in areas such as advertising, customer success, risk, compliance, legal, and personalization. The PayPal Ventures AI Fund made its inaugural investment in February 2024, co-leading Rasa’s US$30 million Series C funding round.
Loftus also noted renewed interest in credit startups. Unlike early credit startups, which attempted to reduce lending risks by leveraging innovative credit scoring methods, the newer generation of credit startups is adopting a different approach, using instead credit as a strategic starting point to introduce customers to a wider range of financial products and services, like B2B payments or consumer fintech solutions.
In the cryptocurrency space, Loftus said PayPal Ventures seeks to invest in the ecosystem around its stablecoin, PYUSD, and in the solutions that would support and encourage usage. PayPal launched its US dollar stablecoin in August 2023. The cryptocurrency is designed for use in Web3 and digital native environments, promising most efficient and frictionless transactions.
Cybersecurity is another area of interest for PayPal Ventures, recognizing the importance of understanding and combating cyber threats, especially for businesses handling financial transactions. PayPal Ventures also sees potential in expanding fintech innovations into new markets like Latin America and Southeast Asia, as well as in startups focusing on employee benefits programs.
Finally, PayPal Ventures is interested in reconciliation, highlighting the need to improve and streamline finance operations post-transaction. Reconciliation is an accounting procedure that aligns data between internal records and external sources like banks and payment partners. It plays a crucial role in maintaining the integrity of financial data and supporting regulatory compliance.
According to PayPal Ventures, reconciliation can also help set the underlying data layer for various financial applications to be built upon, making it a strategic entry point for companies looking to expand across finance departments.
An increase in investment activity
Set up in 2017, PayPal Ventures is the corporate venture arm of PayPal. The unit focuses on six areas of high strategic relevance to the payment firm: fintech, payments, commerce enablement, AI, blockchain and cryptocurrency, and regulatory/cyber technology.
Since its inception, PayPal Ventures has made more than 70 investments, Loftus told Global Venturing. Data from Crunchbase reveal a heightened investment activity this year. Since the start of 2024, PayPal Ventures has participated in nine rounds of fundraising, including a follow-on investment in local payment platform PPRO. This nearly matches the total number of investments made in 2023, which stood at around ten.
Among the investments made in 2024 are Pliant, a B2B payments credit card platform from Germany; SingleInterface, an Indian hyperlocal marketing-to-commerce software for multi-location brands; Qoala, an Indonesian omnichannel insurtech startup; NX Technologies, a Germany-based company that operates the payment management platform bezahl.de; Rasa, a generative conversational AI specialist based in San Francisco; Seal Security, a cybersecurity startup from Israel; Mesh, an embedded finance solution from the US; Prometeo, an embedded banking software platform from Uruguay.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/paypal-ventures-to-ramp-up-investments-in-ai-cybersecurity-crypto</link><guid>3622</guid><author>Administrator</author><dc:content /><dc:text>PayPal Ventures to Ramp Up Investments in AI, Cybersecurity, Crypto</dc:text></item><item><title>Top 7 Most Active Gulf Investors in Europe</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						May 2, 2024
																				





					
					
							
					The Gulf region has historically been depended on the oil sector, an industry prone to price fluctuations and which is heavily influenced by geopolitical circumstances. But recent years have seen a shift toward greater diversification as Gulf investors aim to reduce reliance on oil revenues and seek a hedge against local volatility.
Against this backdrop, Europe has emerged as an attractive destination for Gulf investors to diversify their investments. The region boasts a more balanced economic landscape, and has a stable and mature investment environment with established legal frameworks, regulatory systems, and transparent markets. Europe also presents a wide range of investment opportunities across various sectors including real estate, finance and renewable energy.
Increased involvement of Gulf investors in the European landscape is evident in the technology sector. In 2023, Gulf investments in European startups reached US$3 billion, a significant increase from US$627 million in 2018, according to Sifted. This influx of capital, particularly for growth-stage companies, is considerablr, with over two-thirds of Gulf investments in 2023 going to funding rounds over US$100 million.
Sifted has identified the most active Gulf investors in Europe based on their participation in funding rounds over the past two years. These investors represent nations such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), and are investing across industries such as energy, technology, finance and healthcare.
Aramco Ventures

Aramco Ventures, the corporate venture arm of state-owned Saudi Arabian oil and gas firm Aramco, was the most active Gulf investors in Europe in these past two years, participating in 17 deals during the period.
Headquartered in Dhahran, Saudi Arabia and with offices in North America, Europe, and Asia. Aramco Ventures invests globally in startups and technologies that have strategic relevance globally and to Aramco’s business, with the ability to scale and disrupt.
In January, Aramco allocated an additional US$4 billion to Aramco Ventures, bringing the firm’s total investment allocation from US$3 billion to US$7 billion.
Aramco Ventures managed three funds before the capital increase: the US$500 million Digital/Industrial Fund, which invests in technology of strategic importance to Aramco; the US$1 billion Prosperity7 Fund, which invests in disruptive technology ventures beyond the energy sector; and the US$1.5 billion Sustainability Fund, which invests in startups with the potential to support Aramco’s ambition to achieve net-zero emissions by 2050.
Aramco Ventures also has a US$500 million venture capital (VC) fund Wa’ed Ventures, which invests in Saudi startups.
Mubadala Capital

Mubadala Capital, the asset management arm of Abu Dhabi sovereign wealth fund Mubadala, was the second most active Gulf investor in Europe in the past two years, participating in 13 deals during the period.
Mubadala Capital is the wholly-owned asset management subsidiary of Mubadala Investment Company, with approximately US$20 billion of assets under management (AUM).
In addition to managing its own balance sheet investments, Mubadala Capital manages approximately US$13 billion in third-party capital vehicles on behalf of institutional investors, including four flagship private equity funds, three early-stage venture funds, two funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities, as well as a series of co-investment vehicles, special purpose vehicles (SPVs) and continuation funds.
Mubadala Capital closed its last fund in October 2023, raising over US$710 million for its Brazil Special Opportunities Fund II.
Ventura Capital

Venture Capital, an investment firm headquartered in Dubai, was the third most active Gulf investor in Europe in the past two years, participating in nine deals during the period.
Founded in 2012, Ventura Capital is an investment company specializing in pre-initial public offering (IPO) technology startups. The firm provides institutional investors with exposure to disruptive consumer technology, enterprise technology and cybersecurity companies that are growing exponentially and approaching medium-term IPO.
To date, Ventura Capital has invested US$750 million in 23 technology companies including Upgrade, Paytm, Delos, Xiaomi, Twitter, C8 Technologies, Nextdoor, Alibaba, Lookout Mobile Security, Auto1, Coursera, Uber, Spotify, Didi and Lyft.
According to Sifted, Ventura Capital closed its last fund in January 2022, raising a total of US$150 million.
Qatar Investment Authority

Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, participated in six deals in Europe in the past two years, making it the fourth most active Gulf investor in the region during the period.
Established in 2005, QIA focuses on investment management across various sectors and geographies. The company’s main services include long-term responsible investment in diversified asset classes, sectors, and global markets to protect and grow Qatar’s financial assets.
QIA announced in February that it would launch a VC “Fund of Funds”, a strategic investment program to foster innovation in the country. The program would invest more than US$1 billion in international and regional VC funds, and would not invest in private equity or debt. It would aim to yield market level commercial returns for the sovereign wealth fund in addition to developing Qatar’s VC sector.
MetaVision

MetaVision, a private investment fund based in Dubai, participated in six deals in Europe in the past two years, making it the fourth most active Gulf investor in the region during the period, neck-and-neck with QIA.
Founded in 2022, MetaVision is active in the metaverse and Web3 space, mainly focusing on startups at the pre-seed or seed stage.
According to Sifted, MetaVision closed its last fund in 2022. The fund’s notable investments include Kinetix, Ngrave and Cathedral Studios.
Investcorp

Investcorp, a global investment manager headquartered in Manama, Bahrain, participated in six deals in Europe in the past two years, making it the fourth most active Gulf investor in the region as well.
Founded in 1984, Investcorp is an investment manager specializing in alternative investments across private equity, real estate, credit, absolute return strategies, general partner stakes, infrastructure, strategic capital, and insurance asset management.
Investcorp has 14 offices across the US, Europe, the Gulf Cooperation Council (GCC) and Asia. The firm currently has over US$50 billion in total AUM, including assets managed by third party managers, and employs approximately 500 people from 50 nationalities globally across its offices.
Investcorp closed its latest round in February 2023, raising over US$1.2 billion for its inaugural North America Private Equity Fund. The fund focuses on family- and founder-owned business across six subsectors including: tech-enabled, knowledge and professional, data and information, supply chain, industry and specialty consumer services.
Chimera Capital

Chimera Capital, an investment firm based in Abu Dhabi, was the fifth most active Gulf investor in Europe in the past two years, participating in four deals during the period.
Chimera Capital is 100% owned by Chimera Investments, an Abu Dhabi-based private investment firm. These entities are part of Abu Dhabi’s Royal Group, a diversified conglomerate of companies comprising over 60 entities and employing 20,000 employees.
Chimera Capital invests worldwide from Series B onwards and is sector agnostic. It focuses on providing its clientele with access to innovative investment instruments and value-added services with a primary focus on the alternative asset management space.
Chimera Capital closed its last fund in 2022, raising US$10 billion for its Alpha Wave Ventures II fund. The fund focuses on the fintech, artificial intelligence (AI), life sciences, consumer internet and business-to-business (B2B) sectors.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/top-7-most-active-gulf-investors-in-europe</link><guid>3621</guid><author>Administrator</author><dc:content >https://bunny-wp-pullzone-luetain2ag.b-cdn.net/wp-content/uploads/2024/04/Top-7-Most-Active-Gulf-Investors-in-Europe-1440x564_c.jpg</dc:content ><dc:text>Top 7 Most Active Gulf Investors in Europe</dc:text></item><item><title>Europe’s 15 Biggest Banking Technology Companies</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 30, 2024
																				





					
					
							
					The Financial Technology Report has released its selection of the world’s top banking technology companies of 2024, highlighting the 25 biggest and fastest-growing banking technology companies globally.
The Top 25 Banking Technologies Companies of 2024 were selected for their technological expertise, impactful contributions, leadership initiatives, and overall influence on the banking sector. These companies utilize technology including artificial intelligence (AI) and cloud computing to disrupt traditional banking processes and improve efficiency, accessibility, and user experience. They provide various services, including banking software, digital banking products and banking-as-a-service (BaaS).
The 25 featured companies represent three regions, with Europe being the most prominent. Unsurprisingly, the UK is the most represented country in the continent, boasting a total of nine companies. It is followed by France and the Netherlands with two companies each, and Germany and Denmark with one company each.
Today, we look at the 15 European companies that made it into this year’s top banking tech companies list, delving into their product offerings and highlighting their growth and scale.
Biggest Banking Technology Companies in UK (9)


Finastra is a global provider of financial software applications and marketplaces. The company serves more than 8,000 institutions, including 45 of the world’s top 50 banks, providing software solutions and services across lending, payments, treasury and capital markets and universal banking (retail, digital and commercial banking).


Revolut is a global fintech company offering an all-in-one finance app. The company serves more than 40 million customers around the world, providing them with banking, currency exchange, debit and credit cards, stock trading, cryptocurrencies services, and more.


Monzo is a British digital bank that provides checking accounts, debit cards, savings accounts, access to exchange-traded funds (ETFs) and some credit products. The company claims more than 9 million users in the UK.


Starling Bank is a British digital challenger bank providing a range of limited personal and business banking services, including personal current accounts, joint accounts, business accounts, and euro accounts. The company also offers a software-as-a-service (SaaS) proposition through its subsidiary Engine. It claims 3.6 million customers.


Tide is a fintech company providing mobile-first banking services for small and medium-sized enterprises (SMEs). It enables businesses to set up a current account and get instant access to various financial services, including automated bookkeeping, integrated invoicing and loans, and claims 500,000 customers.


ClearBank is a purpose-built, technology-enabled clearing bank. Through its banking license and intelligent, robust technology solutions, ClearBank enables its partners to offer real-time payment and innovative banking services to their customers.


Thought Machine provides cloud-native core banking and payments technology. The company’s core banking platform, Vault Core, is trusted by leading banks and financial institutions worldwide, including Intesa Sanpaolo, ING Bank Śląski, Lloyds Banking Group, Standard Chartered, SEB, Lunar, Atom Bank, Curve, and more.


Allica Bank specializes in financial services for established businesses, focusing on banking solutions within the financial sector. The company offers a range of products including business current accounts, savings accounts, asset finance, commercial mortgages, and growth finance.


Atom Bank is an app-based bank, offering award-winning mortgages and savings through its app, alongside secured business lending for SMEs. The company serves 224,000 customers.

Biggest Banking Technology Companies in France (2)


Sopra Banking Software is a global fintech company serving more than 1,500 financial institutions and large-scale lenders in 80 countries worldwide, including Santander, Societe Generale, KCB Bank, Kensington Mortgages, Mercedes-Benz, and Toyota. The company’s cloud platform offers clients a composable architecture to digitize operations, ranging from banking, lending, compliance, to payments, and consumer and asset finance.


Qonto is the solution that simplifies financial management of freelancers, SMEs, startups, and associations. The company provides an online business account that’s combined with invoicing, bookkeeping and spend management tools. It claims 450,000 customers.

Biggest Banking Technology Companies in the Netherlands (2)


Backbase provides the Backbase Engagement Banking Platform, a unified platform that allows banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty and loan origination, the platform improves every aspect of the customer experience. Backbase serves over 120 financial institutions including BNP Paribas, Citibank, Lloyds Banking Group, NatWest, Raiffeisen and Societe Generale.


Mambu is a cloud-native, SaaS core banking platform created with scale, agility, ease of use and speed in mind. The company services more than 260 banks, lenders, fintech companies, and even retailers, with over 101 million end users.

Biggest Banking Technology Company in Germany (1)

Solaris is an embedded finance platform. The company’s proprietary modular business-to-business (B2B) tech stack and scalable licensing system empowers its partners to offer unique, customer-centric financial services. Solaris holds a full German banking license, including a Digital Assets Custody license, and also an e-money license covering the UK and the European Economic Area (EEA).
Biggest Banking Technology Company in Denmark (1)

Lunar is an independent, regulated and licensed bank. The company provides digital banking solutions including personal and business accounts, savings accounts with positive interest rates, and investment opportunities in stocks, funds, and ETFs, serving more than 850,000 users in Denmark, Sweden and Norway, including 20,000 entrepreneurs.
The Top 25 Banking Technologies Companies of 2024 list also features nine US companies, including payment giant Square, digital banking startup Chime, and banking tech provider Nymbus. Latin America is represented by one company: Pismo, a Brazilian cloud-native financial transaction processing platform that was acquired last year by Visa for a whopping US$1 billion.


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	]]></description><link>https://fintechnews.eu/europes-15-biggest-banking-technology-companies</link><guid>3620</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Europes-15-Biggest-Banking-Technology-Companies-1440x564_c.jpg</dc:content ><dc:text>Europe’s 15 Biggest Banking Technology Companies</dc:text></item><item><title>ETF Anlage Startup Findependent Erreicht 100Millionen CHF AUM Meilenstein</title><description><![CDATA[
									
					
							
					Das Schweizer Anlage-Startup findependent erreicht kurz nach dem 3-jährigen Geburtstag gleich zwei Meilensteine. Einerseits nutzen bereits weit mehr als 10’000 Kunden die App für die Geldanlage. Andererseits hat das verwaltete Vermögen die Marke von 100 Millionen Schweizer Franken überschritten.
Ende Februar feierte die Anlage-App von findependent ihren dritten Geburtstag. Kurz danach konnte der 10’000ste Kunde, der sein Geld bei findependent anlegt, begrüsst werden.

Matthias Bryner
“Das akzentuierte Wachstum der vergangenen Monate ist nicht nur dem freundlichen Marktumfeld zu verdanken, sondern ist auch Ausdruck des gestiegenen Vertrauens in uns als Vermögensverwalter. Die monatlichen Geldzuflüsse stammen zu rund drei Viertel von bestehenden Kund:innen”
erklärt Matthias Bryner, CEO und Gründer von findependent.
Nicht nur die Zahl der Kundinnen wuchs stark, auch das durchschnittlich investierte Vermögen stieg signifikant an und verdoppelte sich in den letzten 18 Monaten auf 10’500 Franken. Für jede Kundin verwaltet findependent die ersten mindestens 2’000 Franken lebenslang gebührenfrei.
“Die Testphase überzeugt Kundinnen und schafft Vertrauen”,
zeigt sich Bryner überzeugt. Als Resultat dieses gestiegenen Vertrauens überschritt das verwaltete Vermögen im April den Wert von 100 Millionen Schweizer Franken.
Trotz der mit 500 Franken sehr tiefen Einstiegsschwelle legen immer mehr Kundinnen auch grössere Vermögenswerte mit findependent an. Sie profitieren mit einem Anlagebetrag über 50’000 Franken von zusätzlich reduzierten Gebühren (0.33%-0.42%), während die 0.44% p.a. gemäss eigenen Angaben von Findependent der schweizweit günstigste Tarif für die Vermögensverwaltung darstellen.


Titel-Bild Nachweis: Bearbeitet von Freepik


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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/etf-anlage-startup-findependent-erreicht-100millionen-chf-aum-meilenstein</link><guid>3619</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/independent-CHF-100-Mio.png</dc:content ><dc:text>ETF Anlage Startup Findependent Erreicht 100Millionen CHF AUM Meilenstein</dc:text></item><item><title>Money20/20 Europe Returns to Amsterdam with Focus on Human/Machine Partnership</title><description><![CDATA[
									
					
							
					Money20/20, a leading fintech event series, will return to Amsterdam for its European edition from June 04 to 06, 2024. This event aims to serve as a premier platform for global innovators, venture capitalists (VCs), banks, regulators and media platforms to explore and discuss the fintech industry’s biggest opportunities and most pressing issues.
Launched in 2012, Money20/20 focuses on the future of payments, fintech, and financial services, offering deep analytics and inspirational speakers. It seeks to keep participants ahead of the curve by fostering strategies, relationships, and mindset shifts, and allow industry stakeholders to network, pitch innovations, and gain insights crucial for success in their respective sectors.
This year’s theme and topics at Money20/20 Europe will encourage ambitious thinking and critical inquiry into the latest trends and innovations within the financial industry. Participants will explore the technological shifts poised to redefine the financial landscape and the underlying architectural changes driving them.
Money20/20 Europe 2024 themes and topics
Money20/20 Europe 2024, slated to take place at the RAI Convention Center, will run under the theme “Human X Machine”, examining the dynamic relationship between humans and intelligent machines, and how a partnership between artificial and human intelligence can forge a new era in finance.
Attendees will witness the convergence of human ingenuity and machine intelligence, leading to transformative changes in consumer-business interactions. This evolution promises to redefine not only the experiences within the financial ecosystem but also how they are perceived and engaged with.
The event will spotlight the stories of individuals pushing the boundaries of innovation, showcasing the achievements of those navigating this uncharted territory and embodying the concept of “superhumans” in the evolving financial landscape.
Money20/20 Europe 2024 will feature sessions revolving around five key topics within the “Human X Machine” theme:

“A Customer Universe of One”: This topic will highlight hyper-personalization in finance where every touchpoint is customized to meet individual customer needs and where technologies converge to create seamless experiences across financial journeys;
“The Age of Atomic Finance”: This topic will explore how monumental technological advancements, such as artificial intelligence (AI), cryptography and quantum computing, are delivering atomic-level precision, unlocking the potential for a “Universe of One”, empowering hyper-personalization and reshaping the future of finance;
“Meet the Architects”: From the leaders of trailblazing startups to changemakers in agile incumbents, these sessions will showcase the architects of the new dawn and the visionaries who are creating new landscapes for the financial futures;
“Signal Vs Noise”: These sessions will address the rapid pace of financial innovation driven by emerging technologies such as AI, blockchain, and Web3, emphasizing the importance of discerning the real potential amidst the noise; and
“The Business of Money”: These sessions will explore the factors contributing to success and analyze activities that led to undesirable outcomes, offering insights from founders, key decision makers, consultants, investors, and disruptors on partnerships, investments, and customer relationships.


Keynotes and speakers
Money20/20 Europe 2024 will feature over 350 speakers, including industry leaders, innovators, and regulators who will provide valuable insights into the future of finance, particularly within the context of the evolving human-machine partnership.
Among the prominent keynote speakers scheduled to address the event are François Hollande, the former President of France, whose tenure witnessed significant economic reforms. Monica Long, President at Ripple, will share her expertise in blockchain technology and its transformative potential for the financial industry; Marnix van Stiphout, COO and CTO at ING, will bring his extensive experience in operational strategy and digital transformation to the forefront; and Joanne Hannaford, CIO and CPO for the Corporate Bank at Deutsche Bank, will offer insights into technology-driven innovation within the banking sector, drawing from her career spanning multiple financial institutions.
In addition to these keynote speakers, Money20/20 Europe 2024 will feature a diverse range of experts and decision-makers, including executives from global banks such as Citi and JP Morgan, leading fintech companies like Adyen and Revolut, as well as representatives from regulatory bodies such as Bank of Canada and the German Federal Ministry of Finance.
Other highlights
Money20/20 Europe 2024 will also focus on fostering inclusion within the finance world through two empowering programs: RiseUp and Amplify.
Initiated in 2018, RiseUp is an annual global program designed to champion diversity across the fintech ecosystem. It focuses on providing women and non-binary individuals with the necessary network, tools, and techniques to strategically advance their careers. The program, explicitly inclusive for all who identify as women, has seen over 175 participants from around the world since its inception.
Amplify, launched in 2021 at Money20/20 USA and subsequently introduced to the Europe show, is tailored for people of color and underrepresented communities. Like RiseUp, it provides participants with networking opportunities, tools, and techniques to advance their careers strategically. With over 450 candidates from around the world, 60% of whom are people of color or Latinx, and 1% having disabilities, Amplify aims to create a more inclusive fintech landscape.
Fintech News Network readers will enjoy a €200 discount when applying the code ‘FNN200’ at checkout.

Featured image credit: edited from Money2020


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	]]></description><link>https://fintechnews.eu/money2020-europe-returns-to-amsterdam-with-focus-on-humanmachine-partnership</link><guid>3618</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Money2020-Europe.jpeg</dc:content ><dc:text>Money20/20 Europe Returns to Amsterdam with Focus on Human/Machine Partnership</dc:text></item><item><title>Top Fintech VC Funding Rounds in Europe for Q1 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 25, 2024
																				





					
					
							
					In Q1 2024, Europe experienced an increase in fintech venture capital (VC) funding, reaching a total of US$2.2 billion after rising by 22% quarter-on-quarter (QoQ), data from CB Insights’ “State of Fintech Q1 2024” report show. This is in stark contrast to the overall global fintech funding landscape which saw a decline of 16% compared to the previous quarter, dropping to US$7.3 billion, the lowest since 2017.
Notably, Europe was the only major global region to see fintech funding increase in Q1 2024, underscoring its enduring attractiveness to investors.
Against this backdrop, we’ll look today at the key deals that shaped Europe’s fintech industry in Q1 2024. We’ll focus on the largest VC funding rounds secured by fintech and insurtech startups in the region during the quarter, shedding light on these companies’ offerings, growth strategies, and plans for the future.
Monzo – US$431 million, Series I

Monzo, a British digital bank, raised GBP 340 million (US$431 million) in a Series I funding round in March 2024, reaching a valuation of GBP 4 billion (US$5 billion). The Series I was the largest VC round closed by a fintech or insurtech startup in Europe in Q1 2024.
Founded in early 2015, Monzo provides checking accounts, debit cards, savings accounts, access to three exchange-traded funds (ETFs) and some credit products. The company, which became a regulated bank in August 2016, serves more than 9 million users in the UK, and is one of the largest digital banks in the country.
Monzo said it would use the proceeds from its Series I to fuel its expansion plans, on product development initiatives, and to broader accessibility to its services. The company said it became profitable in March 2023. In 2023 alone, it added two million customers, and served 400,000 business customers.
Flagstone – US$138 million, Private Equity

Flagstone, a British cash deposit platform, announced in March a GBP 108 million (US$138 million) equity investment by Estancia Capital Partners, a US financial services specialist private equity firm with deep expertise in the cash management market. The round was the second largest deal secured by a fintech or insurtech startup in Europe in Q1 2024.
Founded in 2015, Flagstone provides a fintech platform aimed at assisting UK savers in optimizing their savings potential. Over the years, Flagstone has emerged as one of the largest cash savings platforms in the country, boasting a diverse panel of banks and savings accounts. Individuals, small and medium-sized enterprises (SMEs), and charities, either directly or through various fintech platforms, financial advisors, or brand partnerships, can access over 200 savings account offerings from 60 prominent UK cash savings providers via Flagstone.
Serving a customer base of over 600,000, Flagstone’s total assets under administration (AUA) stands at more than GBP 11 billion (US$13.7 billion). It says its AUA increased by more than GBP 1 billion (US$1.2 billion) per quarter in 2023 as more personal and business savers looked to maximise the interest earned on their cash.
Flagstone achieved profitability in December 2022 and has sustained accelerating profitability since then. The company’s growth strategy focuses on forging robust partnerships, establishing scalable operational functions, and delivering seamless cash solutions.
Solaris – US$104 million, Series F

Solaris, a credit institution headquartered in German, announced in March the closing of its Series F funding round, securing EUR 96 million (US$104 million) in additional capital, along with a financial guarantee of up to EUR 100 million capital equivalent. The Series F was the three largest deal secured by a fintech or insurtech startup in Europe in Q1 2024.
Founded in 2015, Solaris is a leading embedded finance platform in Europe, offering a proprietary modular business-to-business (B2B) tech stack and scalable licensing system. The company serves a diverse range of partners, from global non-financial corporations to innovative fintech firms, allowing them to deliver customer-centric financial services seamlessly across various industries. In 2022, it recorded net revenues of EUR 130 million.
Solaris said it would use the proceeds from its Series F to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program, strengthen its core capital and invest in the resilience of its platform. With a focus on achieving profitable growth over the next five years, the company aims to concentrate on its main vertical markets and provide accessible financial products such as cards, accounts, and lending.
DataSnipper – US$100 million, Series B

DataSnipper, an intelligent automation platform for audit and finance professionals from the Netherlands, raised a US$100 million Series B in February, reaching a valuation of US$1 billion. The Series B was the fourth largest round secured by a fintech or insurtech startup in Europe in Q1 2024.
Founded in 2017, DataSnipper provides an artificial intelligence (AI)-powered platform that brings efficiency to the process of audit. The platform embeds automation directly into Excel, eliminating crushing manual work by letting auditors simply “snip” numbers from any file, such as an invoice, bank statement or inventory document. These “snips” automatically reconcile against transactions, creating airtight audit trails with a click.
DataSnipper has recently released new product suites to better serve finance professionals across diverse sectors. Its Cloud Collaboration Suite allows for secure and seamless real-time coordination across distributed teams, while its AI Suite lets users ask questions in natural language, and then automatically analyze and surface insights from any unstructured documents and data.
PPRO – US$93 million, Private Equity

In March, PPRO, a leading local payments platform, announced the completion of a dual tranche funding round totaling EUR 85 million (US$93 million) to support its growth into key markets, expand its global network of local payment methods, and assist in strengthening its core teams across legal, compliance, and commercial. The round was the fifth largest deal secured by a fintech or insurtech startup in Europe in Q1 2024.
Founded in 2006 and headquartered in the UK, PPRO provides digital payment solutions to businesses and banks so that they can scale their local payment services through one connection. Stripe, PayPal, and JP Morgan are just some of the names that work with PPRO to accelerate their roadmaps, boost their conversions, and eliminate the complexities of local payments.
Following its US$93 million fundraise, the company entered the US market in April, enabling global payment service providers and merchants to reach millions of US consumers via a single API. This followed PPRO’s previous successful geographic expansion into the Asia-Pacific (APAC) region and Latin America.
Hyperexponential – US$73 million, Series B

In January, Hyperexponential, a leader in pricing decision intelligence (PDI) software, announced the completion of its Series B funding round, securing a total of US$73 million. The Series B was the sixth largest deal secured by a fintech or insurtech startup in Europe in Q1 2024.
Hyperexponential serves insurance and reinsurance companies in the multi-trillion-dollar global property-casualty insurance industry, which protects individuals and businesses from a wide array of risks, such as climate change, geopolitical unrest, and cyberterrorism.
Hyperexponential’s flagship PDI platform, hx Renew, enables insurers to leverage large and alternative datasets, develop and refine rating tools rapidly, and employ sophisticated machine learning (ML) approaches to price risk and make data-driven pricing decisions at the portfolio and individual level.
Since the company’s Series A in 2021, Hyperexponential has grown sales 10x while staying profitable, serving some of the world’s largest insurers, including Aviva, HDI, and Conduit Re.
Hyperexponential said it would use its Series B to support its expansion into the US as the company targets opening its New York office this year. It will also enable increased investment in new product capabilities to serve growing client demand in adjacent insurance markets, including the SME insurance sector. The company plans to double its global team to over 200 in the next year.
Element – US$54 million, Late VC

Element, an insurtech startup based in Germany, closed in March a EUR 50 million funding round. The round was the seventh largest deal secured by a fintech or insurtech startup in Europe in Q1 2024.
Established in 2017, Element is a leading player in the insurtech landscape operating under a cloud-based model and offering innovative white-label insurance products. The company’s core mission is to deliver insurance solutions that are not only the fastest and most flexible, but also unfailingly reliable and efficient, covering the entire “B2B-to-any-end-user” (B2B2X) value chain.
Element emphasizes speed, flexibility, reliability, and efficiency in their operations, aiming to empower partners to create and distribute personalized insurance products and build robust ecosystems. Its white-label insurance products are supported by a fully digital and efficient infrastructure. The company is licensed by the German Federal Financial Supervisory Authority (BaFin).
Element has garnered substantial support from both industry insiders and growth investors, raising over EUR 90 million from notable investors such as SBI Investments, Mundi Ventures, Signals VC, and finleap. Recently, it partnered with Warranty Expert, the Baltic States’ leading extended warranty and purchase protection service provider, to launch multiple products across Europe.
Finom – US$54 million, Series B

Finom, a neobanking startup from the Netherlands, secured in March a EUR 50 million (US$54 million) Series B. The deal was the eighth largest VC round secured by a fintech or insurtech startup in Europe in Q1 2024, and brought the company’s total raised to over EUR 100 million.
Founded in 2019, Finom aims to facilitate financial management for entrepreneurs and SMEs worldwide by offering an all-in-one financial B2B solution. This solution integrates banking functions, accounting, financial management, and invoicing into a seamless, mobile-first platform, enabling businesses to focus their resources on growth.
With exponential growth over the past two years and a strong presence in key European markets such as Germany and France, Finom claims it is on track to become a unicorn startup by 2025.
The company plans to use the proceeds from its Series B to enhance its product offerings and continue shaping the future of financial services for SMEs in Europe. Key investment targets include improving the speed and functionality of the web and mobile versions, enhancing security measures, and expanding marketing activities to reach a broader audience.
This year, Finom wants to reinforce its presence in current markets while strategically expanding into new territories, with a particular focus on Poland.
10x Banking – US$50 million, Late VC

10x Banking, a cloud-native software-as-a-service (SaaS) core bank operating system, raised in January US$50 million in a new funding round. The deal was the ninth largest VC round secured by a fintech or insurtech startup in Europe in Q1 2024.
Based in the UK and founded by former Barclays CEO Antony Jenkins in 2016, 10x Banking empowers banks to move from monolithic to next-generation core banking solutions delivered through the world’s most comprehensive and powerful cloud native SaaS bank operating system.
With its secure, reliable, scalable, and modular core banking platform SuperCore, 10x Banking supports highly customizable product behaviors and accounting rules, integrates with banks’ wider technology estates, and harmonizes with local and regional compliance and regulatory requirements. SuperCore enables banks to deliver products, services, and customer experiences to retail and SME customers faster and more cost-effectively.
Building upon its success in the UK, 10x Banking has expanded its footprint into Australia and New Zealand, with plans for further strategic expansions as banks seek to adopt “neo-core” banking systems to accelerate their digital transformation and effectively compete in the marketplace.
The US$50 million funding round, led by BlackRock and JPMorgan Chase, will support 10x Banking’s growth in the competitive core banking market.
Flowdesk – US$50 million, Series B

Flowdesk, a digital asset firm, announced in January the closing its US$50 million Series B. The deal was the tenth largest VC round secured by a fintech or insurtech startup in Europe in Q1 2024.
Founded in 2020, Flowdesk is a full service digital asset trading tech firm that offers market making, over-the-counter (OTC) and treasury management. The company has pioneered the concept of “market-making-as-a-service” (MMaaS), offering a novel approach to liquidity management on secondary markets. Through its MMaaS infrastructure and global trading team, Flowdesk empowers crypto projects, exchanges, and institutions to manage their own liquidity effectively.
Flowdesk is based in France with offices in Singapore and North America. The company claims it is experiencing a threefold increase in revenues year-over-year, driven primarily by strong growth in the APAC region. Flowdesk was also recently named as an approved liquidity provider for the Grayscale ETF, marking another milestone in the institutionalization of its flow after its recent collaboration with Societe-Generale Forge.
Flowdesk plans to use the proceeds from its Series B to consolidate its position as a leading market-making service provider and expand its OTC offering. In addition, Flowdesk plans to expand regulatory coverage in Singapore and in the US. The raise will also be invested into expanding offices in financial hubs and key hires.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/top-fintech-vc-funding-rounds-in-europe-for-q1-2024</link><guid>3617</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Top-Fintech-VC-Funding-Rounds-in-Europe-for-Q1-2024-1440x564_c.jpg</dc:content ><dc:text>Top Fintech VC Funding Rounds in Europe for Q1 2024</dc:text></item><item><title>Der Immobilienmarkt in der Schweiz bietet eine der grössten Chancen der letzten 20 Jahre</title><description><![CDATA[
									
						
																				
																			
												
															
									by Company Announcement								
																						April 25, 2024
																				





					
					
							
					Der Schweizer Immobilienmarkt bleibt auch in Zeiten nach Negativzinsen und trotz gestiegener Fremdfinanzierungskosten attraktiv.
Robert Plantak und Ardian Gjeloshi, Gründer der Immobilien-Plattform Crowdhouse, sehen in der aktuellen Marktlage eine optimale Gelegenheit für antizyklische Investitionen in die Asset-Klasse des «Betongolds». Stark rückläufige Bautätigkeiten, die das ohnehin schon knappe Angebot weiter verknappen werden, treffen auf eine hohe Nachfrage nach Wohnraum. Anleger können auf dem Schweizer Markt für Rendite-Immobilien derzeit eine der «grössten Chancen der letzten zwanzig Jahre» nutzen.
Der Schweizer Immobilienmarkt 2024 wird landläufig als ein Markt mit «neuer Realität» bezeichnet. Die Fremdkapitalkosten befinden sich laut Robert Plantak, CEO von Crowdhouse, auf einem «nach wie vor tiefem Niveau». Zwar wurden die Leitzinsen erst kürzlich wieder gesenkt und es wird erwartet, dass sie in Zukunft noch weiter fallen können – der Immobilienmarkt in der Schweiz hat sich jedoch noch nicht wieder vollständig erholt.
Das heute schon knappe Angebot an Schweizer Wohnrenditeliegenschaften wird sich nochmals deutlich verknappen – denn die Bautätigkeit in der Schweiz ist stark zurückgegangen. Gleichzeitig steigt die Nachfrage nach Wohnraum. Für die Gründer der Immobilien-Plattform Crowdhouse ist diese neue Realität alles andere als ein bedrohliches Szenario – im Gegenteil! Die Immobilienexperten Robert Plantak und Ardian Gjeloshi sehen hervorragende Aussichten auf stabile und steigende Cashflows. Der Schweizer Immobilienmarkt bleibt für Investoren attraktiv. Vermieter können sich auf langfristig steigende Mieteinnahmen verlassen, Anleger auf wiederkehrende Erträge über langfristige Anlagehorizonte mit einem besonders wertbeständigen Asset.
Goldene Zeiten für Vermieter
Mit ihrer Idee, den Erwerb von Renditeimmobilien mittels Technologie einfach und transparent zu machen, haben Robert Plantak und Ardian Gjeloshi mit ihrem Unternehmen Crowdhouse diese Anlageklasse zugänglicher gemacht. Über 1.500 zufriedene Investoren haben in nur wenigen Jahren für ein Transaktionsvolumen von über zwei Milliarden Franken gesorgt. Crowdhouse hat mit einer digitalen Plattform ein Ökosystem auf die Beine gestellt, das die Kunden des Unternehmens auf jeder Stufe ihrer individuellen Investmentstrategie unterstützt. Die beiden Gründer von Crowdhouse kennen die Situation im Immobiliensektor der Schweiz bestens – und sehen auf dem Markt für Renditeimmobilien, anders als der Mainstream, aktuell eine der besten Chancen der letzten zwei Jahrzehnte.
Gerade für Vermieter brechen gemäss den beiden Gründern goldene Zeiten an – sowohl bei Neuvermietungen als auch beim Bestand. Immer weniger freistehende Wohnungen sorgen bei den Angebotsmieten für eine starke Marktdynamik, gleichzeitig wird der Referenzzinssatz auch in Zukunft weiteren Raum für Mietzinsanpassungen bereithalten. Dabei bleibt die Vermietungsstabilität auf hohem Niveau, denn «die Wohnungsleerstände in der Schweiz werden sinken» .
«Korrektur einer coronabedingten Anomalie»
Die Preise für Mehrfamilienhäuser sind zuletzt teilweise gesunken – keine gute Ausgangslage für Immobilienbesitzer, die aktuell verkaufen möchten. Robert Plantak sieht darin allerdings keinen Grund für Besorgnis.
Robert Plantak
«Es gibt in der Schweiz wenige Akteure, die gezwungen sind, ihre Objekte ausgerechnet in solchen Umfeldern zu verkaufen»,
so der CEO von Crowdhouse.
«Viele Besitzer haben auch im neuen Zinsumfeld problemlos Möglichkeiten, ihre Liegenschaften kurzfristig anständig zu refinanzieren. Sie können abwarten, sich weiterhin entspannt zurücklehnen, die Cashflows einfahren und auf einen günstigeren Verkaufszeitpunkt warten.»
Der Immobilienprofi sieht in den jüngsten Preisentwicklungen eine natürliche «Korrektur einer coronabedingten Anomalie» auf dem Immobilienmarkt. Mit Beginn der Pandemie 2020 erlebte die Schweiz einen zwar kurzen, aber sehr deutlichen Run auf Schweizer Immobilien und damit einhergehend einen ungewöhnlich steilen Anstieg der Preise. «In Zeiten von geopolitischer Unsicherheit gewinnt Betongold als sicherer Hafen mangels Alternativen schnell an Attraktivität», ergänzt Crowdhouse-Mitgründer Ardian Gjeloshi. Für Gjeloshi sind die derzeitigen Preisrückgänge «nichts anderes als die Korrektur dieser krisenbedingten Preisanomalie auf ein Vor-Covid-Niveau.»Zwar kann die Zinsdynamik der vergangenen Jahre diese Korrektur wahrscheinlich beschleunigt haben, aber «früher oder später wäre sie eh gekommen».
Klar ist: Die derzeitige Preisdynamik ist für Verkäufer von Immobilien alles andere als erfreulich. Die Marktlage seit dem vergangenen Jahr ist für Verkäufer anspruchsvoll, entsprechend haben sich die Akteure auf dem Markt in eine Warteposition begeben. Die Zinsentwicklung spielte den Kaufinteressenten in die Hände, die eine gute Gelegenheit sahen, die bestehenden Angebotspreise nach unten zu korrigieren. Die Verkaufsseite hingegen war nicht bereit, die niedrigen Preise zu akzeptieren. «Das Ergebnis war eine Pattsituation», so Robert Plantak.
Entsprechend stark war der Einbruch bei den Transaktionen mit über 75 % im Vergleich zu den Vorjahren.
Weniger Konkurrenz, dafür noch stabilere und wachsende Erträge
Die Ausgangslage auf dem Schweizer Immobilienmarkt ist aus mehreren Gründen derzeit einmalig, da sind sich die Gründer von Crowdhouse sicher. Während noch vor mehreren Jahren von einem Überangebot und massiven Leerständen die Rede war, von schwächelnder Zuwanderung und einem ausgetrockneten und überbewerteten Markt, hat sich die Lage heute drastisch geändert.
«Statt Leerstandsproblematik haben wir nun Wohnungsnot und die Aussicht auf weiter steigende Mieten»,
so Ardian Gjeloshi.
«Die Zuwanderung hat angezogen, die Neun-Millionen-Schweiz ist Realität und die Zehn-Millionen-Schweiz absehbar.»
Die derzeit erkennbare Abkühlung des Marktes führt zu weniger aktiven Akteuren und damit zu weniger Konkurrenz. Dies wiederum steigert die Chancen bei der Akquisition von Immobilien.
«Aktuell haben wir die Aussicht auf noch stabilere und tendenziell wachsende Erträge bei deutlich weniger Konkurrenz»,
ergänzt Robert Plantak.
Für die Immobilienprofis von Crowdhouse steht fest, dass sich Investoren über die Wertentwicklung ihrer Assets keine Gedanken machen müssen – vor allem dann nicht, wenn ein langfristiger Horizont mit einer Denkweise in Jahrzehnten im Fokus der Investition steht. Aktuell bietet sich auf dem Schweizer Immobilienmarkt eine der seltenen Gelegenheiten, antizyklisch zu agieren. «Diese einmalige Gelegenheit ist jetzt da», ist sich Robert Plantak sicher.
«Sobald sich die Wolken am Himmel verziehen, werden auch alle Schönwetterkapitäne wieder in See stechen. Spätestens dann, wenn die Nationalbank damit beginnt, die Zinsen wieder zu senken.»
Seit kurzem scheint die Zeit der «Schönwetterkapitäne» gekommen zu sein, denn die Leitzinsen wurden gesenkt – der Experte von Crowdhouse hat mit seiner Prognose hinsichtlich sinkender Zinsen somit voll ins Schwarze getroffen.
Crowdhouse wird trotz der Unsicherheiten auf dem Markt auch weiterhin Liegenschaften im Miteigentum anbieten. Die beiden Gründer gehen von einer konstanten Nachfrage in den nächsten Jahren aus, die das Unternehmen mit guten und sorgfältig geprüften Liegenschaften bedienen möchte. Crowdhouse hat sich mit seiner zugänglichen, transparenten Immobilienplattform längst als Investitionsalternative auf dem Markt etabliert – und wird auch zukünftig eine zentrale Rolle auf dem Schweizer Immobilienmarkt einnehmen.


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	]]></description><link>https://fintechnews.eu/der-immobilienmarkt-in-der-schweiz-bietet-eine-der-grossten-chancen-der-letzten-20-jahre</link><guid>3616</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Der-Immobilienmarkt-in-der-Schweiz-bietet-eine-der-grossten-Chancen-der-letzten-20-Jahre-1440x564_c.jpg</dc:content ><dc:text>Der Immobilienmarkt in der Schweiz bietet eine der grössten Chancen der letzten 20 Jahre</dc:text></item><item><title>Betterment Acquires Marcus Digital Investing From Goldman Sachs</title><description><![CDATA[
									
					
							
					Betterment, the largest independent digital investment advisor in the United States, announced that it has reached an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts.
Marcus Invest, which offers digitally customized investment portfolios to consumers, will transfer these accounts to Betterment in the coming months.
Betterment pioneered digital investing more than a decade ago, and today serves more than 850,000 customers and manages more than $45 billion in assets. Betterment’s diversified, expert-built portfolios, commitment to service excellence, and easy-to-use technology make it a natural fit for Marcus Invest customers as they continue to build towards their financial goals.
Goldman Sachs will continue to focus on its growing Marcus Deposits platform which serves over three million customers globally and has well over $100 billion in consumer deposits.
Sarah Levy

“This acquisition further cements our leadership in the digital investing space,”

said Sarah Levy, Betterment’s CEO.
“We are excited to welcome these customers to Betterment where our scalable technology platform will continue to support them on their investing journeys.”
Subject to customary closing conditions, the digital investing accounts will be transitioned to Betterment on or about June 29, 2024. Customers will have the option to opt out of this transfer if they choose to do so. Betterment will only be acquiring Marcus Invest accounts and assets under management; it will not be acquiring any additional accounts, technology, employees, or operations as a part of the transaction.

Marcos Rosenberg
“As we increase our focus on our growing Marcus Deposits platform, we made the decision to transition away from our digital investment advisor offering and wanted to find a great home for those customers,”

said Marcos Rosenberg, global head of Goldman Sachs Marcus.

“Betterment was the obvious choice for those accounts as we share a deep commitment to customer satisfaction. We look forward to continuing to serve our Marcus Deposits customers with great products and a great experience.”


This article first appeared on fintechnews.am
Featured image credit: Sarah Levy, Betterment’s CEO and Marcos Rosenberg, global head of Goldman Sachs Marcus


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	]]></description><link>https://fintechnews.eu/betterment-acquires-marcus-digital-investing-from-goldman-sachs</link><guid>3615</guid><author>Administrator</author><dc:content /><dc:text>Betterment Acquires Marcus Digital Investing From Goldman Sachs</dc:text></item><item><title>Airwallex Partners With Tech Company Bird</title><description><![CDATA[
									
					
							
					Airwallex, a leading global payments and financial platform, announced its partnership with Bird (formerly MessageBird), a global communication platform, to power Bird’s international payments operations.
Powering Bird’s global payments infrastructure Bird’s platform, applications and APIs help 29,000+ businesses to streamline conversations and build engaging experiences through their customers’ preferred channels – including WhatsApp, Email, SMS, Voice, WeChat, Messenger, and Instagram.
The global nature of Bird’s business – with multiple currencies flowing in and out of operating entities around the world – had led to a fragmented financial operating system, split across more than 20 banking partners around the world. This created operating inefficiencies for the Bird Finance team, particularly in relation to the creation and approval of supplier payments and reconciliation with Bird’s accounting software.
Using Airwallex’s global payments and financial infrastructure, Bird has been able to consolidate its financial operations across multiple entities and currencies into a single platform. This has enabled greater visibility and control as well as the automation of supplier payments around the world, leveraging Airwallex’s proprietary foreign exchange (FX) engine. Bird is also utilising Airwallex’s issuing product to pay its global suppliers and the batch transfers tool to run its own payroll across entities. Additionally, Airwallex and Bird collaborated on a superior integration via Netsuite that provides greater speed, consistency and depth of reconciliation for Bird’s finance team.
Robert Vis
Robert Vis, Founder and CEO at Bird, commented:
“Prior to working with Airwallex, we were using legacy systems and technology which slowed down our entire global operations. With Airwallex, we’re able to streamline our payments infrastructure and supercharge our finance operations globally. We are continuing to explore more opportunities to leverage the Airwallex product and I look forward to deepening our relationship with the team.”
Pranav Sood
Pranav Sood, Executive General Manager, EMEA at Airwallex said:
“Bird is one of the standout success stories in the Dutch tech community and has revolutionised the way that consumers and businesses communicate on a global scale. We’re proud that Airwallex’s financial technology and payments infrastructure can support Bird’s mission of creating a world where communicating with a business is as easy as talking with a friend. We’re looking forward to deepening our partnership with Bird and serving many more world-leading Dutch businesses with our growing local team in Amsterdam.”
Airwallex was founded in Melbourne in 2015 and is headquartered in Singapore. The company has since grown to over 20 locations globally, currently employs 1,400 people and plans to hire approximately 300 people in 2024.



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		]]></description><link>https://fintechnews.eu/airwallex-partners-with-tech-company-bird</link><guid>3614</guid><author>Administrator</author><dc:content /><dc:text>Airwallex Partners With Tech Company Bird</dc:text></item><item><title>Launch of the Swiss4 Application, Combining Financial Services and Lifestyle</title><description><![CDATA[
									
					
							
					Swiss4, a financial player founded in Geneva in 2020, announces the launch of its application combining financial services and high-end lifestyle management services.
Entirely designed, developed and hosted in Switzerland, the app guarantees security and ease of use for its customers, deposits in CHF held with the Swiss National Bank (SNB).
The multi-currency account (CHF, EUR, GBP, AED, and SGD), alongside the MasterCard World Elite card, allows for everyday financial transactions worldwide without being impacted by significant currency exchange fees on these currencies. The application also includes a digital concierge service designed to provide customers with the best possible leisure and travel support. Swiss4 is distinguished by high service standards and accessibility, inherited from the tradition of Swiss private banking and dedicated to a broader clientele with a discerning level of expectations.
Founded in Geneva in 2020, Swiss4 is the first company in French-speaking Switzerland to have obtained a fintech licence from the Swiss Financial Market Supervisory Authority (FINMA). Since its creation, the company has been developing a financial services application, making customer support as fluid, responsive and inspiring as possible. This application is now available all across Switzerland, combining payment and foreign exchange facilities, personalised lifestyle management services for organising leisure activities – travel, hospitality, gastronomy, access to prestigious cultural and sports events, recommendations for experiences, and private events for its members.
Zhina Asmaei
According to Zhina Asmaei, CEO and co-founder of Swiss4,
“We aim to enhance the client experience by offering a service model influenced by the traditional excellence of Swiss banking with cutting-edge digital innovation. We have designed it as an integrated financial ecosystem to support our customers and provide them access to exceptional lifestyle services.”
The Swiss4 application targets mass affluent customers, i.e. people with bank balances of between CHF 50,000 and CHF 1 million.
Swiss4 is based on SwissCore, a technological infrastructure developed in-house to guarantee total independence and flexibility. Customers benefit from a multi-currency account, with funds held at the Swiss National Bank (SNB) and Swiss-Euro Clearing Bank. The platform enables domestic and international payments thanks to its integration with Swiss and European payment systems and the SWIFT network. As a principal member of Mastercard, Swiss4 is the first financial player in Switzerland to issue World Elite debit cards. On top of the autonomous management of its features through the app, this elegantly designed metal card offers its users many benefits, including a range of high-coverage insurance services.
Swiss4 also offers a digital concierge service, giving customers 24/7 global coverage, rapid chat response from dedicated agents, and access to premium experience.
Swiss4’s pricing model is based on an entry annual membership of CHF 1’400. The membership decreases upon usage for the following years. It offers excellent value for money given the wide range of services provided. Swiss4 ensures that additional costs, such as transaction and exchange fees, are competitive, guaranteeing transparency for the users of its services


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		]]></description><link>https://fintechnews.eu/launch-of-the-swiss4-application-combining-financial-services-and-lifestyle</link><guid>3613</guid><author>Administrator</author><dc:content /><dc:text>Launch of the Swiss4 Application, Combining Financial Services and Lifestyle</dc:text></item><item><title>Leading Fintech Marketers of 2024 Based in Europe</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 23, 2024
																				





					
					
							
					In the dynamic world of fintech, marketing is a critical business function that helps drive innovation, foster business growth and nurture enduring relationships with various stakeholders including consumers, partners, investors, policymakers, and the media.
The Fintech Marketing Hub, a London based global fintech marketing community, released on April 10 its 4th edition of the Top 30 Most Influential Fintech Marketers list, recognizing the contributions of marketing professionals who have significantly impacted the European fintech sector.
This year’s top 30 marketing professionals were selected by a jury of level-C executives from the fintech sector based on the degree of these marketers’ influence and achievements over the past year, including their total reach across different channels, engagement levels, insights relevance, community involvement, media appearance, and any notable achievements.
Among this year’s top 30 fintech marketers, 19 are based in Europe, and represent industry leaders including Wise, Finastra and Airwallex. These professionals are spread across seven different countries, with the UK being the most prominent (13). Other locations represented include Switzerland, France, Czech Republic and Germany.
Today, we’ll take a closer look at the 19 fintech marketers based in Europe that made it into this year’s Top 30 Most Influential Fintech Marketers list, delving into their careers and notable accomplishments.
Andrew Davies, CMO, Paddle (UK)

Andrew Davies serves as the CMO at Paddle, a company specializing in providing complete payments infrastructure for over 4,000 software companies.
Before joining Paddle, Davies held the position of vice president (VP) of corporate marketing at Optimizely (formerly Episerver), following its acquisition of Idio. In this role, he led global strategy and activities for demand generation, branding, digital marketing, account-based marketing (ABM), and content creation. During his tenure, Optimizely integrated five acquisitions, underwent a complete rebranding, and achieved significant growth in pipeline and sales.
Davies is also the co-founder of Idio, where he served as the CMO and oversaw people operations. Under his leadership, Idio emerged as a market leader in business-to-business (B2B) personalization, catering to enterprise clients such as Pegasystems, BNY Mellon, Fitch Group, and Pure Storage. The company raised over US$13 million from institutional investors, including Notion Capital, and various angel investors.
Additionally, Davies sits on the board of Ninety, an agile digital transformation consultancy catering to the insurance industry. Ninety operates as a social enterprise, with 90% of distributable profits allocated towards alleviating global poverty.
Outside his professional roles, Davies is actively involved in advising, supporting, and investing in early-stage startups, assisting them with proposition development, team building, marketing strategy, and funding.
Chantal Swainston, Founder, The Heard (UK)

Chantal Swainston is the founder of The Heard, an award winning platform to get more women and non-binary people in fintech into public speaking.
Swainston has nearly a decade of experience in technology and fintech public relations, and throughout her career, she has collaborated with a diverse array of household consumer brands and groundbreaking B2B entities
Swainston’s professional portfolio encompasses a broad spectrum of accomplishments, including the introduction of brands to new markets, the successful launch of innovative products within the realms of open banking and investments, and adeptly managing corporate issues and reputational crises. Notably, she played a pivotal role in overseeing the UK communications strategy for Wise’s listing on the London Stock Exchange.
Cian Weeresinghe, CMO, Wise (UK)

Cian Weeresinghe is the CMO of cross-border payment specialist Wise. Previously, Weeresinghe was the chief customer officer of Secret Escapes, a members-only travel and experiences company, working across brand, performance marketing, customer relationship management (CRM), data science, and product. He’s also spent time at The Guardian, ASOS, eBay, Lloyds Bank, and Capital One.
Duarte Garrido, Growth Marketer and Startup Advisor (UK)

Duarte Garrido is a seasoned growth marketer and startup advisor with over a decade of experience spanning both B2B and business-to-customer (B2C) sectors. His expertise encompasses brand and growth marketing, social media management, omnichannel strategy, corporate communications, and content development. Over the years, Garrido has collaborated with prominent players in financial services, media, fintech, and greentech industries on a global scale.
Throughout his career, Garrido has achieved notable milestones, including establishing an internal digital marketing studio serving over 70 markets, transforming online sentiment from 18% to 80% positive, reducing customer acquisition cost (CAC) by 24% within two months, and boosting marketing generated pipeline by 40% in under six months. Additionally, he has played a pivotal role in advising on martech adoption and driving digital transformation initiatives.
Currently, Garrido serves as vice president of marketing and corporate advisor to several Series B-C scaleups where he leverages his expertise to develop and implement effective marketing and brand strategies. Moreover, he is sought after as a speaker and workshop facilitator, delivering insights on growth marketing and branding.
Elaine Mullan, Head of Marketing, Corlytics (UK)

Elaine Mullan serves as the head of marketing and business development at Corlytics, a global provider of regulatory risk intelligence solutions. Mulla has an extensive background spanning over two decades in fintech marketing, and a proven track record of delivering results-oriented marketing programs, built on identified market opportunities and customer needs.
Mullan’s core competencies include making complex technical communications engaging, content creation and development, integrated marketing programmes, and new business development. She is passionate about collaborating with cross-functional teams and stakeholders, and applying an entrepreneurial approach to marketing.
Mullan has successfully developed and launched marketing campaigns and initiatives in various regions, including Asia-Pacific (APAC), Europe, the Middle East and Africa (EMEA), South Africa, and the US, and has established a strong reputation in the fintech industry.
Harjeet Singh, Marketing Director, Finastra (UK)

Harjeet Singh is the marketing director of Finastra, bringing over two decades of experience in marketing, marketing operations, digital marketing, and marketing strategy and planning within the fintech and technology sectors. With a keen understanding of both technical and business aspects, Singh is known for his data-driven approach to marketing, with his expertise spanning various go-to-market (GTM) channels, enabling him to develop comprehensive marketing strategies with global coverage.
Throughout his career, Singh has played a crucial role in supporting C-level executives and boards on strategic projects, corporate initiatives, and brand development efforts.
Joseph Williams, Co-Founder, ZeroKey (UK)

Joseph Williams is the co-founder of ZeroKey, a web-app with a mission to integrate technology and eliminate the need for financial advisers to manually key data.
Prior to ZeroKey, Williams was the CMO of CashCalc, leading both the marketing and general day-to-day operations of the company from young startup through exit via its acquisition by FE fundinfo. During his time with CashCalc, he helped the company achieve a market-leading 44% market share, disrupting the UK financial services industry for financial advisers.
Katie Hayes, Head of Marketing, Ozone API (UK)

Katie Hayes is the head of marketing of Ozone API, leveraging over 15 years of global marketing experience across diverse industries. She specializes in scaling marketing departments, spearheading revolutionary rebrands, and enhancing marketing capabilities to drive business growth.
With a strong focus on people management, digital marketing strategy and execution, affiliate marketing, event management, keynote speaking, and workshop facilitation, Hayes is equipped with a broad skill set to lead successful marketing initiatives.
Throughout her career, Hayes has collaborated with clients in various sectors, including fintech, e-commerce, fashion, print journalism, education, travel, finance, and health and wellness.
Leonard Burger, Product Marketing Manager, Sopra Banking (UK)

Leonard Burger serves as a product marketing manager (PMM) at Sopra Banking, boasting over a decade of experience in fulfilling global and local roles across multiple countries. He is a certified PMM and holds an executive MBA from Quantic.
Burger’s professional journey has been characterized by a deep-seated passion for technology products and their strategic positioning and communication within diverse markets. He embodies a T-shaped professional archetype, possessing a broad and multi-disciplinary skill set fueled by innate curiosity and a penchant for continuous learning.
An avid consumer of information, Burger thrives on distilling vast amounts of knowledge to tackle any challenge that comes his way. He excels in discussing and presenting data and insights through compelling storytelling, leveraging his innate ability to connect with others and foster meaningful relationships.
Mariette Ferreira, CMO, PPRO (UK)

Mariette Ferreira is the CMO of PPRO, bringing a wealth of experience in marketing across the entire spectrum. As a skilled marketing professional, Ferreira is adept at implementing agile marketing strategies to drive business growth and enhance brand visibility.
A member of the Chartered Institute of Marketing, Ferreira possesses a diverse skill set encompassing brand positioning, product launches, and lifecycle management. Her expertise includes online marketing, direct marketing, content marketing, public relations, integrated cross-platform campaigns, project management, website development, budget management, and event coordination.
Miranda McLean, CMO, Ecommpay (UK)

Miranda McLean is the CMO of Ecommpay, an international payment service provider and an UK and Europe direct bank card acquirer. At Ecommpay, McLean is responsible for determining the global strategic direction for marketing.
With more than 25 years’ B2B marketing experience, predominantly in the financial services sector, McLean is one of the most high-profile women in fintech. She has recently been recognized as one of the Standout 45 as part of the Innovate Finance Women in Fintech Powerlist.
McLean joined Ecommpay this year from Banking Circle. At Banking Circle, she joined as part of the founding team and created and launched the company’s brand identity and marketing strategy. Prior to that, she held senior leadership positions at Thomson Financial, Reuters, and Standard and Poor’s, leading and shaping marketing strategy and operations, with responsibility for multi-million-pound budgets.
Natalie Williams, Marketing Director EMEA, Airwallex (UK)

Natalie Williams is the marketing director of the EMEA at Airwallex, boasting extensive expertise as a marketing, brand, and growth leader. With a proven track record in scaling startups across the EMEA region, Williams has made significant contributions to tech, software-as-a-service (SaaS), e-commerce, fintech, and luxury product businesses, focusing on customer and community growth.
Williams has proven success developing marketing strategies for both B2B and B2C/direct to consumer (DTC) brands, and experience building and leading high performing teams of direct reports, freelancers and agencies to achieve effective campaigns and hit commercial targets in fast paced and changing environments.
Her experience spans across organic, paid, online, offline, branding, strategy, partnerships, sales, project management, growth, search engine optimization (SEO), social media, content, public relations (PR), events, campaign management, communications, relationship management and agency management.
Tom Davies, VP Marketing, Yonder (UK)

Tom Davies is the VP of marketing at Yonder, a UK credit card challenger brand.
Davies began their career in business development at Not For Sale before transitioning to a role as a customer success manager at SimpleLegal. He then moved into PMM at Wise and Monzo Bank, eventually becoming a senior product marketing manager at Monzo Bank.
Kamile Mazrime, Head of Marketing and Communications, Rockit (Lithuania)

Kamile Mazrime is the head of marketing and communications at Rockit, where she brings a wealth of expertise as a specialist in communication, public relations, branding, and events. With a background in journalism and European politics, Mazrime is passionate about empowering individuals and fostering connections between organizations and professionals.
At Rockit, Mazrime leads communication and partnership efforts, spearheading impactful projects, programs, conferences, and communication strategies.
Loic Jeanjean, Marketing Consultant and Fractional CMO (Portugal)

Loic Jeanjean is a marketing and growth consultant, and a fractional CMO for B2B startups. In this capacity, he assists companies in enhancing their marketing capabilities and achieving their pipeline and revenue goals. Jeanjean’s expertise lies in building, coaching, mentoring, and equipping marketing and growth teams to drive hyper-growth for their organizations. He collaborates closely with C-suite executives as a trusted marketing advisor, translating strategic goals into actionable marketing plans.
Jeanjean has over 18 years of extensive experience in marketing leadership roles within B2B companies across various stages of funding and growth. He has made significant contributions to several prominent companies, including Pleo and Ledger. At Pleo, he led marketing efforts across 16 European countries, overseeing a team of 20+ marketers and contributing to a revenue growth of 4x. Similarly, at Ledger, Loic played a pivotal role in creating and executing global outbound and inbound marketing strategies.
Nicolas Pinto, Head of Growth, Skaleet (France)

Nicolas Pinto is the head of growth at Skaleet, bringing extensive expertise in marketing with a track record of international success within global organizations. Pinto has collaborated closely with executive teams and management groups to define and execute local and international strategies across both B2B and B2C sectors.
Pinto is recognized as an influencer and specialist in the fintech domain, and actively engages with the fintech community on X under the handle Nicolas2Pinto. His insights and contributions have earned him recognition as one of the top fintech influencers by Onalytica in 2020, 2021, and 2022.
Owen McCall, Head of Marketing, SwissQuant (Switzerland)

Owen McCall is the head of marketing of SwissQuant, boasting over a decade of experience as a strategic marketing leader in both B2B and B2C domains across diverse industries, including fintech and Web3/blockchain. McCall holds a Master’s degree in International Law from the University of St. Gallen, complemented by several professional certifications in marketing analytics, AI/innovation, and strategic communications.
In his role at SwissQuant, McCall leads the charge in developing and executing strategic go-to-market plans, fostering collaboration across cross-functional teams, and curating impactful content. His primary focus is on driving growth and elevating brand visibility for SwissQuant, a global leader in risk software solutions and consultancy services for the financial and industrial sectors.
Radim Oulehla, Co-Founder, Fintree (Czech Republic)

Radim Oulehla is the co-founder of Fintree, a platform that leads the fintech conversation in the Czech Republic and Slovakia. Oulehla is a key figure in fintech marketing, recognized for his influential work and his  ability to engage a wide audience on social media, particularly LinkedIn, with insightful content on fintech and e-commerce.
Oulehla is deeply involved in the fintech community, including organizing major B2B fintech conferences and contributing to professional networks like the Czech Fintech Association and European Fintech Hub. He has earned a number of accolades and was named among the top influencers in Central and Eastern European fintech by 25.
Vanessa Schotes, CMO, Enfuce (Germany)

Vanessa Schotes is the CMO of Enfuce, boasting a distinguished career as a senior marketer with a track record of success spanning various industries.
Schotes excels in implementing results-driven marketing, communications, and brand building programs. Her specialties include marketing planning, strategic market penetration, market research, creative development, external/internal communications, full campaign management, comprehensive brand messaging, PR strategy, product development, and project leadership.


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	]]></description><link>https://fintechnews.eu/leading-fintech-marketers-of-2024-based-in-europe</link><guid>3612</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Leading-Fintech-Marketers-of-2024-Based-in-Europe-1440x564_c.jpg</dc:content ><dc:text>Leading Fintech Marketers of 2024 Based in Europe</dc:text></item><item><title>Croatia Sees Remarkable Growth in Tech Ecosystem; Fintech Remains Nascent Though</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 22, 2024
																				





					
					
							
					In the Central and Eastern Europe (CEE) region, Croatia is witnessing remarkable growth in its startup ecosystem. N
ew data released in a report by Dealroom, supported by Uniqa Ventures, Cogito Capital Partners and Vestbee, reveal that the country’s startup landscape has surged in value over the past five years. Since 2019, the combined enterprise value of Croatia’s tech startups has increased by a staggering 7.4 times, surpassing the growth rates of other rapidly developing tech hubs in the region like Poland (2.4 times) and Estonia (1.8 times).
This growth trend in Croatia’s startup scene is even more significant when compared to the European average, which stands at 2.1 times. This indicates that Croatia, along with other nations in the CEE region, is experiencing a rapid expansion of their startup ecosystems.
Five-year growth, combined enterprise value in Central and Eastern Europe (CEE), Source: Central and Eastern European Startups 2024, Mar 2024
The figures, featured in the fourth annual report on the startup and tech ecosystem of CEE, highlights the emergence of a young and vibrant startup ecosystem in the CEE region.
The report reveals that Croatian startups are not only growing rapidly but also achieving higher success rates than their CEE peers. About 7.1% of Croatian startups that secured more than EUR 1 million in funding have become unicorns, surpassing the rates of the overall CEE region (3.2%) and Europe (2.1%). More specifically, the report says that over 40 startups in Croatia have raised more than EUR 1 million in funding, with three of them already achieving unicorn status.
Percentage of &gt; EUR 1 million funded startups that become unicorn, Source: Central and Eastern European Startups 2024, Mar 2024
A thriving startup ecosystem
In recent years, the CEE region has emerged as a vibrant hub for tech innovation, driven by a thriving ecosystem of early-stage tech companies. Since 2019, the combined enterprise value of startups in the CEE startup ecosystem has grown by 2.4 times, soaring from EUR 89 billion in 2019 to EUR 213 billion in 2023.
Combined enterprise value of CEE startups, Source: Central and Eastern European Startups 2024, Mar 2024
According to the report, 60% of this combined worth is concentrated in the region’s 52 unicorns, totaling a total value of EUR 129 billion. Notably, startups from Poland, Ukraine, and Estonia contribute significantly to this value (50%), accounting for EUR 49 billion, EUR 28 billion, and EUR 28 billion, respectively.
Looking at funding trends, CEE startups amassed EUR 2.1 billion in 2023, with enterprise software, security and energy dominating the funding landscape. Enterprise software and software-as-a-service (SaaS) remained the leading segment in the region in 2023, with over EUR 655 million raised. Enterprise software is followed by security with EUR 351.3 million raised, and energy, a segment that rose from being a niche just a few years ago, to capture a third of venture capital (VC) investment in CEE in 2023 (EUR 302.6 million).
In contrast, fintech saw a decline in appeal compared to other sectors, landing in fourth place with a total funding of EUR 279.5 million in 2023.
Most funded verticals, CEE startups, Source: Central and Eastern European Startups 2024, Mar 2024
Looking at sub-industries, logistics and delivery, mobility, and vehicle production startups in CEE raised a combined EUR 4.8 billion since 2019, ranking as the top three categories. They were followed by three fintech verticals: cryptocurrency and decentralized finance (DeFi) (EUR 816.8 million), payments (EUR 740.8 million) and financial management solutions (EUR 711.1 million).
VC investment by sub-industry since 2019, Source: Central and Eastern European Startups 2024, Mar 2024
Croatia’s nascent fintech sector
In Croatia, the fintech sector is still in its early stages but is showing promising signs of growth and dynamism. A 2023 report by Hungarian digital product design agency Ergomania sheds light on the state of the industry, highlighting a growing interest in digital finance among industry players.
The report says that digitalization has become a banking priority in recent years, accelerated by the pandemic. This has prompted a shift towards enhancing customer experience across online, call center, and branch channels.
Filip Saravanja, formerly with HANFA, the Croatian Financial Services Supervisory Agency, highlighted Croatia’s potential in fintech innovation but notes challenges such as limited access to capital and foreign dominance in the financial sector.
Linardo Martincevic from the Croatian National Bank described efforts to enhance fintech knowledge within the institution. Since 2019, he has chaired a cross-department working group on fintech at the central bank comprising representatives from all sectors of the bank, and a pool of experts. Initially focused on crypto, the group has since expanded its scope to emerging technologies that fall within the bank’s regulatory framework.
Martincevic predicts the inevitable emergence of central bank digital currency (CBDC), stating that while Croatia is still heavily reliant on cash, there has been a gradual decline in this trend and increased adoption of mobile wallets.
This shift is mirrored in the findings of a recent MasterIndex survey. Conducted in October 2023 and involving over 1,000 Croatian banking customers, the survey found that 82% of respondents utilized their mobile phones for bill payments. Moreover, a significant 92% of participants expressed the belief that retailers should provide various payment options, including cards, cash, mobile apps, digital wallets, and even cryptocurrency.
Aircash, a licensed electronic money institution and a prominent fintech startup from Croatia, saw its revenue grow by a staggering 2,819% growth rate between 2019 and 2022, making it the fourth fastest-growing tech companies in Central Europe during the period, according to Deloitte’s recent Technology Fast 50 Central Europe ranking.
Aircash operates as a digital payment platform, providing services related to electronic money and mobile payments. The platform allows users to make payments, transfer money, and manage their finances digitally, offering convenience and accessibility. In 2023, Aircash reached the one million user milestone and was integrated into over 200,000 points of sale.

Featured image credit: edited from freepik



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	]]></description><link>https://fintechnews.eu/croatia-sees-remarkable-growth-in-tech-ecosystem-fintech-remains-nascent-though</link><guid>3610</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Croatia-Sees-Remarkable-Growth-in-Tech-Ecosystem-1440x564_c.jpg</dc:content ><dc:text>Croatia Sees Remarkable Growth in Tech Ecosystem; Fintech Remains Nascent Though</dc:text></item><item><title>Croatia Sees Remarkable Growth in Tech Ecosystem; Fintech Remains Nascent</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 22, 2024
																				





					
					
							
					In the Central and Eastern Europe (CEE) region, Croatia is witnessing remarkable growth in its startup ecosystem. N
ew data released in a report by Dealroom, supported by Uniqa Ventures, Cogito Capital Partners and Vestbee, reveal that the country’s startup landscape has surged in value over the past five years. Since 2019, the combined enterprise value of Croatia’s tech startups has increased by a staggering 7.4 times, surpassing the growth rates of other rapidly developing tech hubs in the region like Poland (2.4 times) and Estonia (1.8 times).
This growth trend in Croatia’s startup scene is even more significant when compared to the European average, which stands at 2.1 times. This indicates that Croatia, along with other nations in the CEE region, is experiencing a rapid expansion of their startup ecosystems.
Five-year growth, combined enterprise value in Central and Eastern Europe (CEE), Source: Central and Eastern European Startups 2024, Mar 2024
The figures, featured in the fourth annual report on the startup and tech ecosystem of CEE, highlights the emergence of a young and vibrant startup ecosystem in the CEE region.
The report reveals that Croatian startups are not only growing rapidly but also achieving higher success rates than their CEE peers. About 7.1% of Croatian startups that secured more than EUR 1 million in funding have become unicorns, surpassing the rates of the overall CEE region (3.2%) and Europe (2.1%). More specifically, the report says that over 40 startups in Croatia have raised more than EUR 1 million in funding, with three of them already achieving unicorn status.
Percentage of &gt; EUR 1 million funded startups that become unicorn, Source: Central and Eastern European Startups 2024, Mar 2024
A thriving startup ecosystem
In recent years, the CEE region has emerged as a vibrant hub for tech innovation, driven by a thriving ecosystem of early-stage tech companies. Since 2019, the combined enterprise value of startups in the CEE startup ecosystem has grown by 2.4 times, soaring from EUR 89 billion in 2019 to EUR 213 billion in 2023.
Combined enterprise value of CEE startups, Source: Central and Eastern European Startups 2024, Mar 2024
According to the report, 60% of this combined worth is concentrated in the region’s 52 unicorns, totaling a total value of EUR 129 billion. Notably, startups from Poland, Ukraine, and Estonia contribute significantly to this value (50%), accounting for EUR 49 billion, EUR 28 billion, and EUR 28 billion, respectively.
Looking at funding trends, CEE startups amassed EUR 2.1 billion in 2023, with enterprise software, security and energy dominating the funding landscape. Enterprise software and software-as-a-service (SaaS) remained the leading segment in the region in 2023, with over EUR 655 million raised. Enterprise software is followed by security with EUR 351.3 million raised, and energy, a segment that rose from being a niche just a few years ago, to capture a third of venture capital (VC) investment in CEE in 2023 (EUR 302.6 million).
In contrast, fintech saw a decline in appeal compared to other sectors, landing in fourth place with a total funding of EUR 279.5 million in 2023.
Most funded verticals, CEE startups, Source: Central and Eastern European Startups 2024, Mar 2024
Looking at sub-industries, logistics and delivery, mobility, and vehicle production startups in CEE raised a combined EUR 4.8 billion since 2019, ranking as the top three categories. They were followed by three fintech verticals: cryptocurrency and decentralized finance (DeFi) (EUR 816.8 million), payments (EUR 740.8 million) and financial management solutions (EUR 711.1 million).
VC investment by sub-industry since 2019, Source: Central and Eastern European Startups 2024, Mar 2024
Croatia’s nascent fintech sector
In Croatia, the fintech sector is still in its early stages but is showing promising signs of growth and dynamism. A 2023 report by Hungarian digital product design agency Ergomania sheds light on the state of the industry, highlighting a growing interest in digital finance among industry players.
The report says that digitalization has become a banking priority in recent years, accelerated by the pandemic. This has prompted a shift towards enhancing customer experience across online, call center, and branch channels.
Filip Saravanja, formerly with HANFA, the Croatian Financial Services Supervisory Agency, highlighted Croatia’s potential in fintech innovation but notes challenges such as limited access to capital and foreign dominance in the financial sector.
Linardo Martincevic from the Croatian National Bank described efforts to enhance fintech knowledge within the institution. Since 2019, he has chaired a cross-department working group on fintech at the central bank comprising representatives from all sectors of the bank, and a pool of experts. Initially focused on crypto, the group has since expanded its scope to emerging technologies that fall within the bank’s regulatory framework.
Martincevic predicts the inevitable emergence of central bank digital currency (CBDC), stating that while Croatia is still heavily reliant on cash, there has been a gradual decline in this trend and increased adoption of mobile wallets.
This shift is mirrored in the findings of a recent MasterIndex survey. Conducted in October 2023 and involving over 1,000 Croatian banking customers, the survey found that 82% of respondents utilized their mobile phones for bill payments. Moreover, a significant 92% of participants expressed the belief that retailers should provide various payment options, including cards, cash, mobile apps, digital wallets, and even cryptocurrency.
Aircash, a licensed electronic money institution and a prominent fintech startup from Croatia, saw its revenue grow by a staggering 2,819% growth rate between 2019 and 2022, making it the fourth fastest-growing tech companies in Central Europe during the period, according to Deloitte’s recent Technology Fast 50 Central Europe ranking.
Aircash operates as a digital payment platform, providing services related to electronic money and mobile payments. The platform allows users to make payments, transfer money, and manage their finances digitally, offering convenience and accessibility. In 2023, Aircash reached the one million user milestone and was integrated into over 200,000 points of sale.

Featured image credit: edited from freepik



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	]]></description><link>https://fintechnews.eu/croatia-sees-remarkable-growth-in-tech-ecosystem-fintech-remains-nascent</link><guid>3611</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Croatia-Sees-Remarkable-Growth-in-Tech-Ecosystem-1440x564_c.jpg</dc:content ><dc:text>Croatia Sees Remarkable Growth in Tech Ecosystem; Fintech Remains Nascent</dc:text></item><item><title>SFTI’s “Open Pension” Vision Aims to Transform Pension Provision in Switzerland</title><description><![CDATA[
									
					
							
					Industry trade group Swiss Fintech Innovations (SFTI) released on April 16 a new position paper, presenting its vision of “Open Pension”, a concept that’s intended to address longstanding concerns regarding pension provision in Switzerland by enhancing transparency and enabling data sharing.
The “Open Pension” concept would leverage modern technologies to upgrade the Swiss pension system, centering on empowering individuals to receive and share pension information with trusted third parties in a secure and standardized way, and improve efficiencies.
Drawing insights from European practices, particularly pension tracking systems (PTS), the paper advocates for digital access to pension data across all three pillars of the Swiss pension system. It notes that in many European countries, PTS are already actively used to enhance transparency, flexibility and control over pension investments.
A PTS is a system that provides an overview of individualized, objective and impartial information by accessing and aggregating pension data from all three pillars of pension provision. This encompasses accrued entitlements and projected retirement income from various sources, presented in a user-friendly manner through a front-end interface, commonly known as a pension dashboard.
In 2021, more than half of the countries in the European Economic Area (EEA) and the European Free Trade Association (EFTA) already provided a PTS to their citizens that covered all or at least some of the countries’ pension pillars, the report says. Data suggest that there is significant active usage of PTS, with rates in the 30 to 40% of the working population.
Top strategic implementation options
The paper emphasizes the importance of a comprehensive and open PTS in addressing the challenges faced by Swiss retirees, with a focus on the second pillar due to its critical role in pension provision.
The report identifies five strategic implementation options for opening the second pillar which are categorized in two clusters: centralized platforms facilitating data exchange, and self-sovereign data sharing.
Five strategic implementation options, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
Two of these five options are highlighted as the SFTI’s favored options. Option B, the “open data hub with consent @ TPP”,  presents a centralized open platform that facilitates the secure exchange of pension data among organizations. In this option, consent for data sharing is given at the level of trusted third parties (TPPs), where individuals authorize the sharing of their data directly with these TPPs.
According to the SFTI, Open B is a very balanced option and promises a high usability and adoption potential. However, there are relevant risks, particularly with regard to privacy protection and legal aspects. In addition, there is a need to find a legally and technically feasible way to match users across platform participants and sectors.
Option B: Open data hub with consent @ TPP, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
Like Option B, Option C, the “open data hub with consent @ source”, presents a centralized platform for the secure exchange of pension data among organizations. However, it stands out by implementing consent management at the level of data providers like pension funds. Individuals access a pension dashboard at a TPP and the TPP then directs them to the data provider’s client portal. There, individuals log in and authorize the sharing of their data with the specific TPP.
Option C builds on proven methods from open banking and multibanking. Compared to B, the strengths of option C lie in the direct control of data access by the individual. However, this model also imposes a fragmented stakeholder landscape and more complex implementation requirements, introducing considerable challenges and probably higher costs for the pension providers.
Option C: Open data hub with consent @ source, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
A clear mandate needed
The SFTI argues that a clear federal mandate from federal authorities is essential for advancing the “Open Pension” vision and opening the second pillar’s interfaces. This assertion is backed by evidence from the SFTI’s Open Pension survey and insights from several SFTI working groups.
A public survey conducted in 2023, involving 92 participants from diverse stakeholder groups including data providers and users, revealed that while a slight majority favored a self-regulatory or voluntary approach to opening pension data, a notable 38% expressed a preference for regulatory intervention.
Preferred options for the opening of the 2nd pillar pension data, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
45% of the respondents believed a regulatory approach to be the swiftest path to implementing digital access to pension data for secure third-party providers, anticipating realization within three to five years.
How long will it take for the 2nd pillar pension data to be opened based on the different scenarios, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
Overall, industry stakeholders expressed optimism regarding the potential of data sharing to enhance user experience and improve efficiencies in pension provision. More than 80% of the survey respondents foresee relevant benefits for data users, individuals and data providers resulting from digitally opening up second pillar data of the insured.
Industry stakeholders set to benefit the most from digitally opening up 2nd pillar data, Source: Open Pension, Swiss Fintech Innovations, Apr 2024
The Swiss pension system comprises three pillars: the state-run pension scheme, the pension funds run by investment foundations, and voluntary, private investments. The system is designed to ensure financial security for retirees, serving as the foundation of retirement planning.
However, the system faces challenges, with retirement concerns consistently ranking among Swiss citizens’ top worries. Factors such as an aging population and workforce shortage are raising doubts about the long-term viability of the system, prompting discussions on reforms.
Adding to these concerns is the lack of clarity among individuals regarding their expected monthly pension, owing to the complexity of calculations, fragmented data across pillars, and limited understanding of the pension system.

Featured image credit: edited from freepik



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	]]></description><link>https://fintechnews.eu/sftis-open-pension-vision-aims-to-transform-pension-provision-in-switzerland</link><guid>3609</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Five-strategic-implementation-options-Source-Open-Pension-Swiss-Fintech-Innovations-Apr-2024.png</dc:content ><dc:text>SFTI’s “Open Pension” Vision Aims to Transform Pension Provision in Switzerland</dc:text></item><item><title>Swiss Fintech Awards 2024 Announce Top 10 Swiss Fintech Startups</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 19, 2024
																				





					
					
							
					A jury of 20 experts from the Swiss fintech space have reviewed over 60 applications (out of a total of 100 submissions) of fintech startups and have picked the five most promising companies in the categories “Early Stage Start-up of the Year” and “Growth Stage Start-up of the Year” for their 2024 edition.
Reducing Friction And Adding Value With AI And Blockchain Applications
While being diverse in its use cases, this year’s top 10 of the Swiss Fintech Awards showcases the vitality and maturity of the Swiss fintech landscape.
The ten nominated companies cover a vast range of innovative business models. Some aim at providing more and better investing opportunities to individual or business clients while others serve financial professionals and institutions with the help of technologies such as AI and blockchain to increase efficiency and transparency.
The top 10 of the Swiss FinTech Awards also feature startups in fields such as cyber insurance or sustainability reporting.
The top 10 Swiss Fintech Startups of the Swiss Fintech Awards 2024 are:
Early Stage Top 5 (Alphabetical Order)


CLIMADA Technologies aim at delivering transparent and regulatory-aligned climate change related reporting.


Cyberion is a insurtech start-up that specializes on providing insurance against cyber threats by offering vulnerability checks, insurance solutions and training.


Evorest want to digitalize the process to open and close rental deposits and make these unproductive rental deposits – worth around CHF 15 billion in Switzerland alone – investable.


Kaspar&amp; want to make investing the new normal by democratizing and giving access to professional and easy to manage investment strategies.


Neur.on AI are addressing the burden of vast numbers of legal documents floating around in financial institutions that need accurate translation. By utilizing artificial intelligence Neur.on AI translate legal documents more cost-effectively.

Growth Stage Top 5 (Alphabetical Order)


ARF is a global transaction service platform offering scalable liquidity to financial institutions for cross-border settlements.


Divizend automate the process of reclaiming foreign withholding taxes for investors and other dividend receivers.


GenTwo expand the investment universe through assetization – driven by technology and innovations in securitization and tokenization.


Payrexx is a payment service provider that integrates a wide range of payment methods – both local and global options – to make online commerce accessible for all kinds of businesses.



WeCan is a blockchain-based solution for data management and secure communication both internally among employees and externally with clients.


Previous winners of the awards include companies like Yokoy or Crypto Finance as well as important shapers of the Swiss fintech landscape such as Tenity, SICTIC or former Federal Councillor Ueli Maurer.
The Swiss Fintech Awards is a broadly supported initiative what is made possible through the collaboration and support of the fintech and finance ecosystem including banks, insurances, investors, accelerators, media, academia, associations and more.
The winners of the awards 2024 will be announced at the Swiss Fintech Awards Night taking place on June 11 in Zurich.


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		]]></description><link>https://fintechnews.eu/swiss-fintech-awards-2024-announce-top-10-swiss-fintech-startups</link><guid>3608</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Swiss-Fintech-Awards-2024-Announce-Top-10-Swiss-Fintech-Startups--1440x564_c.jpg</dc:content ><dc:text>Swiss Fintech Awards 2024 Announce Top 10 Swiss Fintech Startups</dc:text></item><item><title>Austria’s Most Prominent and Fastest-Growing Fintech Startups of 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 19, 2024
																				





					
					
							
					In Austria, fintech is emerging as a dynamic force within the country’s economic landscape.
The Fintech Technology Report by the Vienna Business Agency, sheds light on key drivers shaping the sector’s growth. It highlights Vienna’s prominent IT sector, buoyed by robust infrastructure and a skilled workforce, alongside the city’s commitment to innovation and research, which serve as primary drivers of fintech advancement.
These drivers have catalyzed the evolution of a thriving fintech ecosystem, which is said to now comprise over 400 companies, according to Tracxn, with digital payments, digital investment and digital assets emerging as some of the most significant trends.
Within this landscape, several ventures have emerged as category leaders, recording substantial growth and garnering investor attention. Today, we look at some of Austria’s most successful and fastest-growing fintech startups in 2024, highlighting their value propositions and recent achievements.
Bitpanda

Founded in 2014 and based in Vienna, Bitpanda stands out as one of Austria’s premier fintech startups. The company provides a seamless and intuitive platform for both new and experienced investors to trade a diverse range of assets including stocks, exchange traded funds (ETFs), cryptocurrencies, crypto indices, precious metals, and commodities.
With nearly a decade of experience in the crypto and trading realm, Bitpanda holds multiple licenses and registrations across Europe, ensuring adherence to stringent regulations such as VASP, MiFID 2, E-Money, and PSD2. The startup recently attained the coveted crypto license from Germany’s Federal Financial Supervisory Authority (BaFin) and expanded its custody services into the UK market.
With over 4 million users and a listing of more than 3,000 digital assets, Bitpanda has firmly established itself as a major player in the fintech landscape. In 2021, it achieved unicorn status, reaching a valuation of EUR 1 billion following a massive US$170 million fundraise. Bitpanda’s exponential growth trajectory is evident, with a staggering 764% increase in users recorded that same year.
In 2023, the startup’s Bitpanda Pro platform, a digital asset exchange for seasoned trading and financial institutions, rebranded as One Trading after raising a EUR 30 million Series A and becoming a fully-fledged company of its own.
According to CB Insights data, Bitpanda has raised US$497.43 million in funding and is valued at US$4.11 billion.
Wikifolio

Established in 2012 and headquartered in Vienna, Wikifolio is a rapidly expanding fintech startup dedicated to democratizing the investment market and popularizing social trading among European private investors.
The platform’s innovative approach allows users to explore and replicate trading ideas shared by a diverse array of traders, including full-time investors, successful entrepreneurs, experts from various industries, portfolio managers, and financial editors.
Investors can participate in Wikifolio’s trading strategies by purchasing Wikifolio certificates, which are listed on the Stuttgart Stock Exchange and BX Swiss Stock Exchange. These certificates mirror the performance of the corresponding Wikifolios on a 1:1 basis, enabling investors to track and benefit from their chosen strategies seamlessly.
With strong partnerships with media and product partners, as well as brokers like onvista.de, finanzen100, comdirect, and Société Générale, Wikifolio has established itself as a trusted platform for investors of all backgrounds.
According to Dealroom, Wikifolio has raised EUR 8.5 million in venture capital (VC) funding. Its last round was secured in 2017 and amounted to EUR 1 million.
Blockpit

Founded in 2017, Blockpit stands at the forefront of crypto tax regulation in Europe, offering pioneering solutions to allow individuals and businesses to navigate the complexities of the crypto landscape with confidence and compliance. The company claims it has generated over 1 million tax reports and serves more than 350,000 customers worldwide.
Blockpit’s software provides automated calculation of taxable profits from various crypto activities, including trading, staking, decentralized finance (DeFi), lending, mining, and margin trading. By importing real-time data from popular crypto exchanges and wallets, Blockpit ensures precision and reliability in tax reporting, offering country-specific reports that display taxable profits and other essential information.
In November 2023, Blockpit acquired rival Accointing, marking its entry into the UK market. The acquisition was undisclosed in amount but described as a “multi-million dollar” deal by CEO Florian Wimmer. The development followed Blockpit’s merger with Germany-based firm Crypto Tax, further solidifying its position as a key player in the crypto tax software domain.
Blockpit closed its last round of fundraising in July 2021, securing a EUR 8.4 million Series A. According to CB Insights, the startup has so far raised a total of US$11.48 million in funding.
Morpher

Founded in 2018 and based in Vienna, Morpher is a pioneering force in DeFi, dedicated to democratizing trading on a global scale. By leveraging blockchain technology, Morpher enables users to trade virtual replicas of real-world financial markets seamlessly through its proprietary protocol and MPH token. Backed by notable investors including Tim Draper, Morpher aims to break down barriers and making financial markets universally accessible.
The Morpher platform distinguishes itself as the only trading app offering access to a diverse array of markets, including stocks, cryptocurrencies, forex, commodities, indices, non-fungible tokens (NFTs), and more. With features designed for both seasoned traders and newcomers, Morpher boasts zero fees, infinite liquidity, and unparalleled flexibility, allowing users to trade 24/7 and act on breaking news alerts even over weekends. It also offers advanced trading features such as short selling and fractional shares, all powered by the Ethereum blockchain technology.
In February 2022, Morpher secured US$6 million in a Series A round. At the time, the startup claimed 50,000 active monthly users and said it had managed over a million trades. Prior to its Series A, Morpher raised US$1.5 million in 2020.
Finmatics

Founded in Vienna in 2016, Finmatics has emerged as a force in digitalizing and automating accounting processes.
The company’s cloud-based, hardware-independent platform employs self-learning artificial intelligence (AI) algorithms to automate formerly labor-intensive tasks such as document information entry and batch scanning. Seamlessly integrated with existing accounting systems like DATEV, SAP, BMD, and RZL, Finmatics allows organizations to significantly reduce time spent on accounting and document processing by up to 70%, allowing for more efficient resource allocation.
Finmatics claimed a client base encompassing over 900 law firms and 50,000 companies in March 2023, including the majority of the so-called “Big Four” such as KPMG. The startup said at the time that it had increased its total revenue by over 300% over the preceding 12 months.
Finmatics secured a EUR 6 million Series A last year, led by Mangrove Capital Partners with participation from existing investor eQventure. The startup said at the time that it would use the proceeds to fuel further expansion in Germany and the growth of its teams in Vienna and Berlin, as well as drive product development initiatives. It planned to hire up to 20 employees in Berlin and expand into other European markets in 2024.
Monkee

Founded in 2018 and based in Innsbruck, Monkee aims to help millions of people achieve their financial goals without building up debt. By offering a novel approach to saving, Monkee strives to revolutionize how individuals perceive and interact with their finances.
At its core, Monkee is dedicated to changing how people think about and manage their finances. The app encourages users to save with purpose, offering a gamified experience that makes saving money both fun and rewarding. Collaborating with over 500 commerce partners, Monkee offers also attractive cashback opportunities, helping users achieve their financial goals more quickly.
With more than 300,000 app downloads and savings goals surpassing EUR 250 million, Monkee has garnered significant traction, underscoring the demand for alternative financial solutions to the prevalent buy now, pay later (BNPL) model.
Monkee raised in April 2024 a seven-figure investment to fuel its ambitions for further growth and expansion. The startup also announced it was expanding its reach to over 150,000 account holders through a partnership with Vereinigte Volksbank Raiffeisenbank (VVRB). The alliance with VVRB will also strengthen Monkee’s product offering, particularly for long-term savings, and bolsters customer trust through a reputable banking partner.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/austrias-most-prominent-and-fastest-growing-fintech-startups-of-2024</link><guid>3607</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Austrias-Most-Prominent-and-Fastest-Growing-Fintech-Startups-of-2024-1440x564_c.jpg</dc:content ><dc:text>Austria’s Most Prominent and Fastest-Growing Fintech Startups of 2024</dc:text></item><item><title>Abacus neu mit Chief Artificial Intelligence Officer in Geschäftsleitung</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 19, 2024
																				





					
					
							
					Alexander Vegh, langjähriger Director of Research &amp; Development bei Abacus Research AG, ergänzt ab dem 1. April 2024 als Chief Artificial Intelligence Officer (CAIO) die Geschäftsleitung des Schweizer Software-Unternehmens.
Alexander Vegh,
Dabei bringt er seine umfangreiche Erfahrung im Bereich Künstliche Intelligenz (KI) und sein Verständnis für innovative Technologien in seine neue Rolle mit ein.
Dazu Claudio Hintermann
Claudio Hintermann, Co-CEO und Chief Research Officer der Abacus, betont die Bedeutung der neugeschaffenen Position:
«Künstliche Intelligenz steht im Zentrum unserer technologischen Entwicklungen. Mit der Ernennung eines CAIO stellen wir sicher, dass KI sowohl für unsere Führungskräfte als auch für alle Mitarbeitenden wichtig wird und ein fester Bestandteil unserer Produktentwicklung ist. Gleichzeitig treiben wir damit unsere Vision, eine Software für die nächste Generation zu entwickeln, weiter voran.»


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			&#13;
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		]]></description><link>https://fintechnews.eu/abacus-neu-mit-chief-artificial-intelligence-officer-in-geschaftsleitung</link><guid>3606</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Abacus-starkt-Geschaftsleitung-mit-neuem-Chief-Artificial-Intelligence-Officer-1440x564_c.jpg</dc:content ><dc:text>Abacus neu mit Chief Artificial Intelligence Officer in Geschäftsleitung</dc:text></item><item><title>Andreessen Horowitz Collects $7.2 Billions</title><description><![CDATA[
									
					
							
					Andreessen Horowitz announced that they have just raised $7.2B for the following venture strategies: American Dynamism ($600M), Apps ($1B), Games ($600M), Infrastructure ($1.25B), and Growth ($3.75B).
When Ben Horrowitz and Marc Andreessen started the firm in 2009, the conventional wisdom in Venture Capital was that in any given year, only 15 companies would ever generate $100M in revenue and those 15 companies would drive almost all of VC returns. At that time, the conventional wisdom was right. Venture Capital firms configured themselves to address a market of 15 important companies. This meant relatively small fund sizes and a small number of partners in a single fund was the optimal approach. Andreessen Horowitz began in exactly this way with a $300M fund and 2 General Partners.
Ben Horowitz
Shortly after they started the firm, all that began to change. They saw the new world coming and wrote about it in 2011 in a piece called, “Software is Eating the World.” What he predicted then came true. In the past 10 years, nearly every significant business has been reimagined as a software company, and the market for these companies has, as a result, increased dramatically. Along the way, each submarket – American Dynamism, Apps (Consumer, Enterprise, Fintech), Bio+Health, Crypto, Games, Growth, and Infrastructure – has become as big as the original entire Venture Capital market.
As a result, to win in each category, they needed to expand from one great investor in each segment to a dedicated investing team with a differentiated platform in each category to help the best founders in those fields build amazing companies. Each area requires deep expertise, so it’s not wise to try to cross-train someone in, for example, Games and Infrastructure. More importantly, founders building AI foundation models need an entirely different set of networks and capabilities than founders building biotech therapies.
“To best serve the market, we created dedicated venture funds, each with its own team of experts and capabilities, specifically focused on each segment. We did this because we believe as former entrepreneurs that your investors really matter. A great investor with the right help, the right networking, and the right expertise at the right time can be the difference between success and failure.”


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/andreessen-horowitz-collects-72-billions</link><guid>3605</guid><author>Administrator</author><dc:content /><dc:text>Andreessen Horowitz Collects $7.2 Billions</dc:text></item><item><title>12 Fintech Events to Attend in Europe in Q2 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 18, 2024
																				





					
					
							
					Over the past decade, the fintech landscape has undergone a remarkable transformation, evolving from a niche trend to a dominant force in the global financial sector. According to data from Statista, the Europe, Middle East, and Africa (EMEA) region boasted over 10,000 fintech companies in 2024, trailing behind only the Americas with 13,100 ventures.
Number of fintechs worldwide from 2018 to 2024, by region, Source: Statista, Jan 2024
This massive ecosystem is rising on the back of soaring fintech adoption and usage. Online banking penetration rates exceeded 90% in four European nations in 2023, with Norway leading the pack, followed by Denmark and the Netherlands. Moreover, projections by Statista indicate that the user base for digital payments in Europe will exceed 547 million by 2024.
In terms of user distribution across countries, the UK, Germany, and France stands out with the highest number of fintech adopters. In 2023, the UK had the highest number of fintech users in Europe, with an estimated 106.53 million users. The UK was followed by Germany and France, with 96.4 and 79.4 million users, respectively.
The significant growth of fintech in Europe has led to numerous fintech events being organized across the region. These events are serving as platforms for networking, knowledge exchange, and the showcase of innovative solutions. Here’s a curated list of the top fintech events taking place in Europe in Q2 2024.
Fintech Marketing Conference
April  23, 2024
Level 39, London, England

The Fintech Marketing Conference is set to take place on April 23, 2024, at Level 39 in London, England. This conference is designed to delve into the latest trends in business-to-business (B2B) marketing and how they will impact future strategies and outlooks.
The event aims to bring together senior professionals from the financial services and technology sectors and will provide a platform for attendees to engage with influencers and decision-makers, gain fresh perspectives through inspiring discussions, access insightful thought leadership content from top experts, and participate in valuable networking opportunities.
Highlighted topics include innovative methods for driving new customer acquisition and retention, improving operational efficiency, implementing accelerated marketing automation, and reducing marketing costs.
Crypto and Digital Assets Summit
May 08-09, 2024
Convene 155 Bishopsgate, London, England

The Crypto and Digital Assets Summit is returning for its third edition on May 08 and 09, 2024, at Convene 155 Bishopsgate in London. The summit aims to serve as the premier gathering for traditional financial institutions, regulators, policymakers, and digital asset thought leaders.
The event will explore key questions such as the use cases for blockchain in financial markets, the impact of ETFs on crypto markets, the geopolitical influence on digital asset investment, and the path to industry regulation and compliance.
Over two days, attendees will engage in keynote interviews, networking sessions, and debates, where industry leaders will discuss navigating Bitcoin’s growth, institutional interest in tokenization, and blockchain technology’s broader applications. They will also get to connect with industry stakeholders, gain insights into market trends, and explore new product developments, including AI, exchange-traded funds (ETFs), tokenization, and more.
Conf3rence 2024
May 15-16, 2024
Signal Iduna Park, Dortmund, Germany

Conf3rence 2024, taking place on May 15 and 16, at Signal Iduna Park in Dortmund, Germany, stands as the premier Web3 event for decision-makers and executives across all industries.
This event aims to serve as a hub for the brightest minds and forward-thinking companies in blockchain, cryptocurrencies, non-fungible tokens (NFTs), the metaverse, and AI, providing a platform to understand and harness the transformative potential of blockchain technology, a cornerstone of Web3. Enthusiasts, high-profile speakers, and innovative companies will converge to share ideas, innovations, and visions for the future.
Attendees at Conf3rence will delve into the exciting possibilities that arise when bridging the gap between the traditional economy and Web3. By combining the best of both worlds, the event aims to foster meaningful applicability and support the growth of blockchain technology, laying the groundwork for a more decentralized future.
Participants can expect to:

Connect with influential professionals, thought leaders, and innovators to expand networks, forge partnerships, and exchange ideas;
Discover new leads, prospects, and potential clients while showcasing products or services, establishing partnerships, and exploring collaborations;
Stay ahead of the curve with insights into the latest industry trends, emerging technologies, market shifts, and potential opportunities; and
Gain knowledge and insights from industry experts through keynotes, panel discussions, and interactive masterclasses, staying updated with the latest trends, strategies, and best practices.

Global Regtech Summit 2024
May 16, 2024
etc.venues, 155 Bishopsgate, London, England

The Global Regtech Summit 2024 is scheduled for May 16, 2024, at etc.venues in London, England, promising to be the world’s largest gathering of regtech leaders and innovators.
With a notable 2:1 buyer-seller ratio, the event will connect attendees with a global audience of regtech leaders. Participants will have the chance to engage with senior executives working in compliance, risk management, technology, financial crime prevention, and information security. Over 1,000 regtech leaders are expected to attend, with 81% holding director-level positions or above, ensuring a high caliber of industry expertise.
The summit will feature leading experts and innovators facilitating active debates, discussions, and high-impact interactions, providing valuable insights and networking opportunities.
Highlights of the event include:

Exploration of the latest regtech innovations in financial services through debates and presentations led by industry leaders;
Enhancement of knowledge on strategic and compliance issues faced by financial institutions amid ongoing digital transformation efforts;
Access to leading-edge industry innovations through a dedicated Demo Stage, showcasing how technology can address regulatory challenges; and
Identification of current and future commercial opportunities for organizations operating within the regtech sector.

In addition to networking and knowledge-sharing opportunities, attendees will get to leverage an AI matchmaking tool to make lasting business connections with active regtech buyers, sellers, investors, and innovators.
ePay Summit Europe
May 21, 2024
Kensington Conference and Event Centre, London, England

The ePay Summit Europe, scheduled for May 21, 2024, at the Kensington Conference and Event Centre in London, is a must-attend event for e-commerce professionals, business owners, and anyone interested in the latest payment trends.
This premier conference, also known as E-Commerce Payments 2024, aims to inspire, educate, and connect attendees, offering valuable insights to revolutionize payment strategies and elevate e-commerce businesses to new heights. Attendees can expect engaging discussion panels, inspiring keynote speeches, and ample networking opportunities.
FTT Embedded Finance and Superapps
May 21, 2024
etc.venues 155 Bishopsgate, London, England

Scheduled for May 21, 2024, at etc.venues 155 Bishopsgate in London, England, FTT Embedded Finance and Superapps promises an exploration of the burgeoning realm of embedded finance and super-apps, challenging traditional financial service paradigms.
Highlighted features of the event include a substantial attendee count, with over 600 individuals expected to participate, among which approximately 60% being actively involved in embedding financial services.
Attendees will have the chance to engage with over 150 expert speakers from various fields, promising a day filled with insightful discussions and networking opportunities.
The event will center around several key themes, including:

Unleashing the Power of AI on Embedded Finance: Exploring the transformative potential of AI in reshaping financial services;
Partnerships: Understanding the significance of partnerships in unlocking opportunities and driving growth.
Venturing Beyond Traditional Financial Service Players: Examining the expanding landscape of financial services beyond conventional institutions;
Unlocking the Potential of B2B Embedded Finance: Exploring how embedded finance can enhance efficiency and innovation within B2B operations;
Exploring the Impact of Regulation on Embedded Finance: Navigating the regulatory landscape and its implications for product development; and
The Future of Wealth Management: Discussing the role of embedded wealth management in improving financial well-being for individuals and businesses alike.

FTT Embedded Finance and Superapps will be co-located with the Customer Alpha, Future Identity Customer, and FTT Payments, providing attendees with a wealth of content and networking prospects across multiple domains.
AI in Finance Summit London
May 22-23, 2024
America Square Conference Centre, London, England

The AI in Finance Summit London is scheduled for May 22 and 23, 2024, at the America Square Conference Centre, aiming to showcase the latest advancements in artificial intelligence and machine learning (AI/ML) within the financial services sector. This event serves as a premier platform for discovering cutting-edge technologies and their practical applications to enhance efficiency and address challenges within the industry.
The summit will offer a unique opportunity to engage with AI pioneers, explore case studies demonstrating AI’s business value, and learn from practical examples of AI implementation. It will delve into topics such as ML tools and techniques, financial forecasting, trading and investment strategies, as well as emerging trends in fintech applications. It will cover a wide range of topics, including financial forecasting, fraud prevention, regulation, natural language processing (NLP), portfolio optimization, risk management, conversational AI, anti-money laundering, wealth management, investing, and fintech innovations.
Attendees can expect to encounter a blend of academic research and industry expertise, providing insights into the forefront of AI innovation and its real-world implications. They will also get to interact with industry leaders, technologists, data scientists, and founders shaping the future of AI in finance. Through various sessions and Q&amp;A discussions, attendees will be able to collaborate on solving shared challenges and gain valuable insights into AI’s role across banking, financial services, and insurance sectors.
New additions to this year’s event include dedicated networking sessions, multiple streams of content tailored to specific interests, access to post-event presentation recordings, and expanded networking opportunities, including a reception at the end of the first day.
AssetRush x Zurich VIII
May 29, 2024
Kaufleuten, Zurich, Switzerland

AssetRush × Zurich VIII, scheduled for May 29, 2024, at Kaufleuten in Zurich, Switzerland, stands as a leading event merging digital, alternative, and traditional assets. This gathering will unite qualified and institutional investors with today’s financial pioneers, offering a unique opportunity to explore the evolving landscape of asset management.
Participants will delve into the significance of diversification in the rapidly evolving realm of asset management, which is doubling every decade. They’ll also discover the immense potential of alternative assets, valued at a staggering US$78 trillion, and explore the booming digital asset realm set to reach US$24 trillion by 2027.
Over the past five years, AssetRush has earned its place as one of the premier events on the Swiss financial services calendar. It’s designed not only as a conference but as an immersive experience, bringing together international innovators and investors to examine and create new investment models and pathways for shaping the future.
Key highlights of the event include five-minute presentations that maintain an active and engaging atmosphere, skilled moderators who balance serious topics with a festival atmosphere, and professional production values that ensure the event exceeds typical finance industry standards. Additionally, its high-quality network ensures participants receive meaningful exposure and opportunities for valuable connections
Money 20/20 Europe
June 04-06, 2024
RAI Exhibition and Convention Centre, Amsterdam, Netherlands

Money20/20 Europe, scheduled from June 04 to 06, 2024 in Amsterdam, the Netherlands, is set to usher in a profound transformation within the financial landscape, redefining the dynamics between consumers and businesses. The event aims to serve as a unique platform, spotlighting the narratives of extraordinary individuals who fearlessly explore the uncharted territory of human-machine collaboration.
Positioned as the epicenter of industry progress, Money20/20 Europe acts as a catalyst for change, fostering the convergence of diverse people and ideas. Each year, the event brings together influential global leaders, ambitious newcomers, tech giants, and nimble startups to collectively define the trajectory of the financial landscape, not only within Europe but also on the global stage.
Fintech News Network readers will enjoy a €200 discount when applying the code ‘FNN200’ at checkout.
Fifteen Seconds
June 06-07, 2024
Graz, Austria

The 2024 Fifteen Seconds festival, taking place in Graz, Austria on June 06 and 07, will explore pressing questions across key thematic areas, covering emerging industries and societal shifts such as:

In the realm of leadership, discussions will focus on emotional intelligence and adaptive leadership in today’s dynamic world. The impact of technology on team empowerment and the importance of continuous learning will be explored for fostering effective leadership;
In the future of world, topics will include the evolving role of digital human resources (HR), workplace inclusion, and the significance of soft skills in the digital age;
In marketing, speakers will delve into authentic brand communication, data-driven storytelling, and maintaining visibility in the digital era;
Impact leaders will address sustainability challenges, such as driving a green transition, championing circular economies, and building resilient communities;
Entrepreneurial discussions will revolve around scaling with purpose, fostering winning team cultures, and innovating beyond boundaries; and
Tech enthusiasts will explore the human-machine interface, ethical implications of AI, and the importance of open source and community collaboration.

Proof of Talk
June 10-11, 2024
Louvre Palace, Musée Arts Décoratifs, Paris, France

Proof of Talk, scheduled for June 10 and 11, 2024, at the Louvre Palace, Musée Arts Décoratifs, in Paris, aims to serve as a global forum where the wisdom of traditional economic forums converges with the dynamic innovation of Web3.
Held over two days, the event will bring together investment funds, crypto companies, traditional institutions, exchanges, and policymakers. It will boast over 150 speakers and is set to attract more than 2500 high-profile attendees, including C-Level executives, industry leaders, investors, and over 100 international and national journalists.
Content-driven sessions will include 20+ panel discussions, 15+ workshops, 10+ keynotes, 5+ fireside chats, and deep one-on-one conversations. Themes for 2024 will span real-world assets and traditional finance going Web3, AI and blockchain integration, the crypto-UX revolution, the evolution of the gaming economy, efficiency versus empowerment, and smart contract security.
TNW Conference
June 20-21, 2024
Taets Art and Event Park, Amsterdam, Netherlands

The TNW Conference, scheduled for June 20 and 21, 2024, at the Taets Art and Event Park in Amsterdam, is a premier two-day technology event that brings together a global community of tech executives, investors, scale-ups, and startups. This immersive experience combines the elements of a conference with the vibrant atmosphere of a festival, creating a unique platform for business and knowledge sharing.
With a focus on technology, the conference aims to inform and connect industry leaders, startups, investors, and policymakers to address present and future challenges.
This year, the TNW Conference will welcome 10,000 attendees, ensuring face-to-face interactions while adhering to the highest health and safety standards. Featuring over 190 speakers sharing fresh insights, 220+ exhibiting companies showcasing their innovations, and a Startup Program empowering over 160 startups to thrive, the conference will serve as a platform for collaboration and opportunities.
Attendees can anticipate a blend of conference professionalism with festival vibrancy, offering ample opportunities for networking, learning, and entertainment. Participants will get to forge valuable connections, gain inspiration, and propel their businesses forward amidst a dynamic and inspiring environment.


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	]]></description><link>https://fintechnews.eu/12-fintech-events-to-attend-in-europe-in-q2-2024</link><guid>3604</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/12-Fintech-Events-to-Attend-in-Europe-in-Q2-2024-1440x564_c.jpg</dc:content ><dc:text>12 Fintech Events to Attend in Europe in Q2 2024</dc:text></item><item><title>Prominent Law Firm Provides Comprehensive Guide on Switzerland’s Regulatory Framework</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 17, 2024
																				





					
					
							
					The fintech sector in Switzerland has experienced significant growth in recent years, maintaining its appeal as a hub for financial innovation.
With over 400 active participants in Switzerland’s fintech ecosystem, the landscape is dynamic and diverse, boasting both emerging startups and established enterprises offering digital payment services, automated financial advice, digital asset trading, and more.
Swiss law firm Lenz and Staehelin released on March 21 2024 an extensive guide on the regulatory landscape for fintech activities, highlighting the main laws and requirements companies providing these types of services must comply with.
According to the guide, regulatory oversight of the Swiss fintech sector follows a technology-neutral and principle-based approach, relying on existing regulatory frameworks and stringent compliance requirements designed to ensure financial integrity and consumer protection. These laws include the Swiss Financial Services Act (FinSA) and Swiss Financial Institutions Act (FinIA).
However, several regulatory changes have also been introduced by the Swiss Financial Market Supervisory Authority (FINMA) to facilitate fintech advancement. Most notably, a specialized license termed the “fintech license” or “banking license light” allows businesses to accept deposits of up to CHF 100 million without engaging in traditional commercial banking activities, such as interests on deposits and reinvestments.
Additionally, fintech companies may hold deposits under CHF 1 million without such a license, and no banking license is needed if deposits are held for less than 60 days on a settlement account.
In addition to these rules, AML legislation applies to fintech companies acting as financial intermediaries, mandating compliance with know-your-customer (KYC) rules. Other regulations may also apply including data protection and cybersecurity laws, as well as specific requirements relating to outsourcing.
Robo-advisors in Switzerland
Robo-advisors, which offer online financial advice and investment management, aren’t subjected to specific regulations in Switzerland. However, in a bid to contribute to a fintech-friendly legal environment, FINMA has enhanced the regulatory framework to facilitate client onboarding via digital channels by removing the requirement that asset management agreements have to be concluded in writing. FINMA has also eased the rules of the online onboarding process for new businesses.
Under FinSA, financial service providers need to ensure that client orders are always executed in the best possible way with regard to financial terms, timing of execution and other terms and conditions. Providers must define, in a best execution policy to be reviewed annually, the criteria necessary for the execution of client orders. This includes the price, costs, timeliness and probability of execution and settlement.
Online lenders in Switzerland
Online lenders, also known as crowdlenders, fall under general financial services regulation, including AML legislation.
However, online lenders providing consumer loans must also comply with the Swiss Consumer Credit Act (CCA). Requirements include being registered with the Swiss Canton where they are established or, if activities are conducted on a cross-border basis by foreign lenders, with the Swiss Canton where they intend to perform their services.
Additionally, consumer loans that are obtained through a crowdlending platform must comply with the same consumer protection provided by the law as if they were extended by a professional lender.
Fund administrators in Switzerland
In Switzerland, the authorization or licensing process for investment funds varies based on whether these companies manage Swiss or foreign investment funds and the structure of the investment fund in question.
Open-ended collective investment schemes must be established in the form of either a contractual fund or an investment company with variable capital (SICAV). On the other hand, closed-ended collective investment schemes may only be set up as either a limited partnership for collective investments (LP) or an investment company with fixed capital (SICAF). Both LPs and SICAFs must obtain the relevant license from FINMA.
The Collective Investment Schemes Act further distinguishes open-ended funds based on the type of investments. Accordingly, securities funds, real estate funds, other traditional investment funds and alternative investment funds each follow a different set of rules regarding investment policy and permitted investment techniques.
Marketplaces, exchanges and trading platforms in Switzerland
In Switzerland, marketplaces and trading platforms are regulated by the Financial Markets Infrastructure Act (FMIA) and must seek authorization from FINMA as either a stock exchange or a multilateral trading facility. For the trading of digital assets, the distributed ledger technologies (DLT) trading facility authorization allows individuals to participate in such a trading facility without an intermediary.
FMIA differentiates between two primary asset classes: derivatives and securities. Derivatives involve additional obligations such as clearing through a central counterparty, using authorized trading facilities, and adhering to position limits for commodity derivatives. For cryptocurrency platforms, exchange activities in relation to virtual currencies are subject to AML rules.
Authorized stock exchanges and multilateral trading facilities are required by FMIA to implement appropriate self-regulation, implement rules on orderly and transparent trading, and monitor trading in order to detect violations of statutory and regulatory provisions. The rules on best execution as well as the general principles on fees also apply.
Finally, most FINMA-supervised institutions must also meet certain organizational requirements regarding market integrity. The requirements include investigating trades that may involve unlawful market behavior, the handling of insider information in a way that prevents unlawful market behavior and allows for its detection, as well as the monitoring of employee transactions.
High-frequency and algorithmic trading in Switzerland
Algorithmic trading, which relies on computer algorithms to automate order execution based on predefined parameters, is regulated under FMIA. High-frequency trading, a subset of algorithmic trading characterized by rapid order transmission and short-term trading strategies, is subject to regulations under both FMIA and FMIO.
Stock exchanges, multilateral trading systems and organized trading systems supporting these types of trading must have the proper systems in place. Requirements include ensuring orderly trading, the ability to identify orders generated by algorithmic and high-frequency trading, as well as the ability to temporarily suspend or restrict trading if there is a significant price movement in the short term.
Insurtech in Switzerland
Currently, there is no specific legislation tailored to govern insurtech business models in Switzerland. Consequently, any regulatory implications for insurtech models are evaluated based on the overarching principles governing the provision of insurance services.
The Insurance Supervisory Act (ISA) distinguishes between three kinds of insurance: life insurance, indemnity/non-life insurance and reinsurance. A key rule is that life insurers can only offer casualty and sickness insurance besides life insurance. Additionally, mandatory sickness insurers follow a completely different regulatory regime under Swiss law. Moreover, different rules apply with regard to capital requirements.
Regtech in Switzerland
Regtech, a subset of fintech, focuses on leveraging technology and software solutions to assist companies in meeting regulatory requirements and ensuring compliance in a cost-effective and comprehensive manner.
Switzerland doesn’t have any specific legislation governing regtech. However, regulated financial service firms using regtech providers must adhere to general outsourcing requirements. Additionally, depending on the nature of the services provided, regtech providers are required to comply with service-level agreements, ensuring performance and accuracy.
Blockchain in Switzerland
Swiss regulators generally apply existing rules concerning risks, liability, intellectual property, AML and data privacy to blockchain and DLT. Regarding initial coin offerings (ICOs), FINMA focuses on the economic function and purpose of the tokens, as well as whether they are tradeable or transferable, in order to classify them.
The regulator categorizes tokens into payment tokens (cryptocurrencies), utility tokens, and asset tokens, with each being subject to varying legal and regulatory frameworks.
On September 25, 2020, the Swiss Parliament approved a new legislation known as the DLT Law. Amendments include a civil law change aimed at increasing the legal certainty in the transfer of DLT-based assets; the possibility of segregation of crypto-based assets in the event of bankruptcy; and a new authorization category called DLT Trading Facilities which allow for the provision of DLT-based asset trading, clearing, settlement and custody.
Fraud in Switzerland
In Swiss law, fraud primarily pertains to criminal conduct as defined in the Swiss Criminal Code (SCC), with potential liability for corporations under specific conditions. To constitute fraud under the SCC, the perpetrator must deceive the victim, act maliciously, act willfully with the intention of unlawfully gaining financial benefit for themselves or others, and induce an error in the victim, leading to actions detrimental to their financial interests or those of others, resulting in damage.
Apart from this broad concept of fraud, other criminal offenses under the SCC relevant in commercial contexts encompass behaviors like forgery, mismanagement, bribery, corruption, and money laundering. Swiss financial market laws may also include provisions concerning fraudulent conduct and impose organizational measures such as fraud prevention and detection.

Featured image credit: Edited from freepik



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	]]></description><link>https://fintechnews.eu/prominent-law-firm-provides-comprehensive-guide-on-switzerlands-regulatory-framework</link><guid>3603</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Prominent-Law-Firm-Provides-Comprehensive-Guide-on-Switzerlands-Regulatory-Framework--1440x564_c.jpg</dc:content ><dc:text>Prominent Law Firm Provides Comprehensive Guide on Switzerland’s Regulatory Framework</dc:text></item><item><title>neon lanciert digitales Gemeinschaftskonto</title><description><![CDATA[
									
					
							
					Der Schweizer Banken-Challenger neon setzt das Wachstum ungebremst fort und zählt gemäss eigenen Angaben nun 200’000 Konto-Nutzer:innen. Gleichzeitig lanciert neon das erste rein App-basierte Schweizer Gemeinschaftskonto.
Kontinuierliches Wachstum auf Augenhöhe mit Grossbanken
Julius Kirscheneder
«Wir freuen uns, dass das Wachstum der letzten Jahre weiter geht»,
sagt Julius Kirscheneder, Gründer und CMO des Zürcher Fintech-Unternehmens neon.
«Wir konnten im letzten Jahr wieder deutlich mehr als 50’000 neue Konten eröffnen. Ein Wachstum, mit dem auch einzelne Grossbanken in der Schweiz für 2023 zufrieden waren. Und das haben wir mit deutlich geringeren Kommunikationsaufwänden erreicht.»
Das fortgesetzte Wachstum der letzten Jahre auf nun 200’000 Kund:innen basiert stark auf Weiterempfehlungen innerhalb der Nutzerschaft, aber auch auf attraktiven, neuen Produkten wie einem seit Mitte 2023 direkt in der neon-App integrierten Aktien- und ETF-Handel. Das gewachsene Vertrauen in neon zeigt sich analog bei den Einlagen und Anlagen der Nutzer:innen, die Ende Februar 2024 1,1 Mrd. CHF erreichten. Das entspricht einem Anstieg von +70% in den letzten 12 Monaten.
neon bietet ab sofort ein Gemeinschaftskonto für 2 Personen, das sich direkt in der neon-App eröffnen und führen lässt. Das echte Gemeinschaftskonto mit Einzelverfügungsberechtigung bietet eine einfache Erweiterung der neon-Privatkonten auf eine gemeinsame, gleichberechtigte Haushaltsführung, mit zusätzlicher CH-IBAN, 2 zusätzlichen neon Mastercards und den zugehörigen Statistiken. Es setzt einen gemeinsamen Wohnsitz voraus und kostet 3 CHF pro Monat pro Person.


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		]]></description><link>https://fintechnews.eu/neon-lanciert-digitales-gemeinschaftskonto</link><guid>3601</guid><author>Administrator</author><dc:content /><dc:text>neon lanciert digitales Gemeinschaftskonto</dc:text></item><item><title>Twint Integrates Cumulus, Supercard and Co</title><description><![CDATA[
									
					
							
					Switzerland’s payment app continues to promote digital shopping innovations and is integrating loyalty cards such as Coop Supercard and Migros Cumulus directly into the payment process.
TWINT has grown to become one of the preferred payment methods and one of the most popular brands in Switzerland thanks to its digital simplification of everyday life. By allowing its users to save loyalty cards directly in the app, TWINT is now making the payment process at in-store cash registers even easier.
Users can now save a variety of loyalty cards from popular Swiss merchants in every version of the TWINT app. This means that they no longer have to carry the physical copies of these cards wherever they go, as they can store them simply and securely in the TWINT app. Once saved, loyalty cards from numerous businesses can be presented directly in the TWINT app during the payment process.
The loyalty cards of a variety of partner companies are compatible with the feature, including popular merchants such as Coop, Migros, Globus, Ex Libris, Tchibo, Transa, TopPharm and many more.



Markus Kilb
Markus Kilb, CEO of TWINT:
“We are confident that the integration of loyalty cards in the TWINT app represents a significant improvement in the payment process for both our users and our network of merchants. This will help us to achieve our goal of making digital everyday life as simple, secure and convenient as possible with innovative solutions.”


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		]]></description><link>https://fintechnews.eu/twint-integrates-cumulus-supercard-and-co</link><guid>3602</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Loyalty-Cards-Twint-App-1024x576.jpg</dc:content ><dc:text>Twint Integrates Cumulus, Supercard and Co</dc:text></item><item><title>Lakestar Closes $600 Million European VC Funds</title><description><![CDATA[Lakestar announced the recent closing of their latest funds, Lakestar Early IV and Lakestar Growth II, for around $600 million to inject new capital into the next generation of European startups, bringing Lakestar’s assets under management to €2bn.

Lakestar invests in disruptive businesses enabled by technology and founded by exceptional entrepreneurs in Europe and beyond, through dedicated early-stage and growth funds.
Both new funds will focus their investments across geographies, with a focus on Europe in sectors such as AI, digitalisation, deep tech, healthcare, and fintech.
The funds are aligned with Lakestar’s commitment to forge a stronger future for Europe by nurturing the region’s innovation and tech ecosystem through the funding of business models which support economic growth and social prosperity.
These new funds have already led investments in tech companies such as energy supplier platform Fuse Energy (UK), embedded finance solution Swan (France), healthtech company Nelly (Germany), NEKO Health (Sweden), the preventative health care technology company co-founded by Daniel Ek, and AI text-to-video technology platform Colossyan (UK/Hungary).
With the closing of the two funds, Lakestar will deploy new capital backed by a mix of limited partners (LPs), including sovereign wealth funds, family offices, fund of fund investors and other institutional and individual players, including founders. The closing of Lakestar Early IV and Lakestar Growth II places Lakestar in a strong position to further deepen its impact on Europe’s entrepreneurial community.



Klaus Hommels, Founder and Chairman of Lakestar said:



d generations.”
Lakestar is supported by a diverse team of 40, spanning 15 nationalities across London, Berlin, and Zurich and takes an active role in supporting its portfolio which includes the likes of Revolut, IsarAerospace, sennder, AccurX and Builder.ai.
In addition to financial resources, Lakestar provides access to its extensive partner and founder ecosystem, expertise, extensive network, and influential voice to drive its companies to success and strengthen Europe’s tech sovereignty. The company also recently co-published its latest edition of the ‘State of Quantum Report’ along with its third iteration of the ‘European Deep Tech’ report.

]]></description><link>https://fintechnews.eu/lakestar-closes-600-million-european-vc-funds</link><guid>3599</guid><author>Administrator</author><dc:content /><dc:text>Lakestar Closes $600 Million European VC Funds</dc:text></item><item><title>Deepfake Gains Momentum as a Powerful Tool for Fraud and Deception</title><description><![CDATA[
									
					
							
					The rise of artificial intelligence (AI) and machine learning (ML) has introduced new and sophisticated tools for threat actors to scam and defraud individuals. One particular concern is the emergence of deepfake technology, which allows for the creation of fake videos, images and audio to impersonate people. This technology has become increasingly popular over the past couple of years, fueled by growing accessibility.
New research by Kaspersky reveals how readily available deepfake tools have become on darknet marketplaces, with prices for creating fake videos starting as low as US$300 per minute. This accessibility poses a significant threat to businesses and individuals alike as cybercriminals now possess the means to impersonate others, carry out fraudulent schemes, and steal sensitive data.
Despite these risks, there’s a notable gap in digital literacy among Internet users. A survey conducted by the Russian cybersecurity firm shows that while 51% of employees in the Middle East, Turkey and Africa claimed they could distinguish a deepfake from a real image, only 25% could actually do so in a test.
Similarly, research by the University College London reveals that people are struggling to identify deepfake audio, even after training. A study conducted in 2023 on 529 individuals found that participants were able to identify fake speech only 73% of the time. This number improved only slightly after participants received training to recognize aspects of deepfake speech, highlighting the need for advanced detection systems to combat the growing threat posed by deepfakes.
The rise of deepfakes
Deepfakes utilize deep learning algorithms to generate highly realistic simulations of people saying or going things they never actually did. The technology has gained attention due to its potential for various malicious activities, including spreading false information, blackmailing people or even disrupting elections.
Ahead of the Indonesian elections on February 14, 2024, a AI-generated deepfake video depicting late Indonesian president Suharto advocating for the political party he once presided over went viral. The video, which cloned his face and voice, racked up 4.7 million views on X.
Most recently, a finance worker at a multinational company’s Hong Kong office was tricked into paying out US$25 million to fraudsters using deepfake technology to pose as the company’s CFO in a video conference call.
Deepfakes are also widely used to pornographic videos featuring the faces of celebrities or non-consenting individuals. One recent study found that 98% of deepfake videos online were pornographic and that 99% of those targeted were women or girls. This raises concerns about privacy breaches, emotional distress and the exploitation of individuals for malicious purposes.
Europe takes steps to tackle the risks associated with deepfakes
In response to the risks posed by generative AI such as deepfakes, the European Commission (EC) launched in March a probe into bigtech’s use of AI and their handling of computer-generated media.
The EC’s requests, which are aimed at companies including Meta, Microsoft, Snap, TikTok and X, seek detailed information on the platforms’ mitigation measures for various risks linked to generative AI, including the dissemination of false information, the viral spread of deepfakes, and the automated manipulation of services that could influence voters.
Additionally, the EC is seeking information on risk assessments and mitigation measures related to a range of issues, including electoral processes, illegal content, fundamental rights protection, gender-based violence, minors’ protection, mental well-being, personal data protection, consumer protection, and intellectual property.
The probe demonstrates the EC’s commitment to addressing the challenges posed by generative AI and follows the approval of the AI Act. The legislation, the first comprehensive regulation on AI by a major regulator anywhere, assigns applications of AI to three risk categories: applications and systems that create an unacceptable risk, such as government-run social scoring, which are banned; high-risk applications, such as a CV-scanning tool that ranks job applicants, which are subject to specific legal requirements; and applications not explicitly banned or listed as high-risk, and which are largely left unregulated.
Key provisions of the AI Act include proper data governance and an appropriate risk management system for high-risk systems as well as transparency requirements for deepfake material.
The AI Act is part of the EU’s digital strategy, the bloc’s comprehensive approach to digital transformation, encompassing various aspects such as connectivity, digital skills, cybersecurity, and the digital economy.
The number of deepfakes has soared over the past years, rising by ten times globally between 2022 and 2023 alone, a report by identify verification company Sumsub released last year shows. North America witnessed the strongest growth during the period, recording a 1,740% increase in deepfakes. The region is followed by Asia-Pacific (+1,530%), Europe (+780%), the Middle East and Africa (+450%) and Latin America (+410%).

Featured image credit: Edited from freepk


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	]]></description><link>https://fintechnews.eu/deepfake-gains-momentum-as-a-powerful-tool-for-fraud-and-deception</link><guid>3600</guid><author>Administrator</author><dc:content /><dc:text>Deepfake Gains Momentum as a Powerful Tool for Fraud and Deception</dc:text></item><item><title>HSLU Report: Growth Momentum Carries on in Swiss Marketplace Lending</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						April 12, 2024
																				





					
					
							
					In 2022, online marketplace lending continued to rise in Switzerland, driven by mortgage loans and corporate and public sector debt instruments.
A study by the Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA) reveals that in 2022, the total volume of debt capital issued on online platforms reached a new record of CHF 21.4 billion, up 15.7% year-over-year (YoY). Much of this growth was fueled by an increase of online mortgage loans and corporate and public debt financing volumes, which rose by 5% and 22.6% YoY, respectively.
The data, shared in the latest iteration of the Marketplace Lending Report Switzerland, shows that digital lending continued to see increased economic significance in the Swiss market in 2022, with loan volumes for corporates and public entities debt, and mortgage loans carrying on the upward trend they’d witnessed since 2017. Online loans to mid- and large-sized corporations and public entities surged from an estimated CHF 2 billion in 2017 to a considerable CHF 14.7 billion in 2022, while brokered mortgage loans rose from CHF 3.3 billion to CHF 6.2 billion.
Overall, the total volume of volume of debt capital issued on online platforms grew by nearly fourfold between 2017 and 2022, increasing at an annual average growth rate of about 32%.
Total volume of Swiss marketplace lending, 2017-2022, Source: Marketplace Lending Report Switzerland 2023, Lucerne School of Business and the Swiss Marketplace Lending Association, Oct 2023
While online mortgages and corporate and public sector debts continued their ascending trajectory in 2022, online crowdlending pulled back by 18% YoY in 2022. This decline was largely driven by a reduced number of real estate loan transactions (-32.4%), and more moderately, a decline in consumer loans (-7%).
Switzerland’s marketplace lending ecosystem
By the end of 2022, there were 29 homegrown marketplace lending platforms in Switzerland with crowdlending being the most crowded segment, comprising 14 platforms. These platforms connect private and/or institutional investors with consumers and/or businesses to provide them with debt. A third loan segment is real estate crowdlending, which provides mortgage-backed loans to individuals and small and medium-sized enterprises (SMEs).
A number of banks and insurance companies are involved in the Swiss crowdlending ecosystem, including PostFinance (Lendico), Vaudoise Group (Neocredit) and Luzerner Kantonalbank (Funders). Basellandschaftliche Kantonalbank is also a strategic stakeholder in Swisspeers.
Not included in the list of crowdlending platforms is Systemcredit, a marketplace that went online in 2018. Systemcredit provides SMEs with several credit offers from banks, institutional investors and crowd lenders, making its business mode comparable to that of a broker.
Swiss crowdlending platforms, Source: Marketplace Lending Report Switzerland 2023, Lucerne School of Business and the Swiss Marketplace Lending Association, Oct 2023
Online mortgage loans were the second largest marketplace lending segment in late 2022, comprising 12 different platforms. These platforms have an exclusively professional investor base, such as banks, insurance companies and pension funds as lenders, target private borrowers, and allow the mortgage application process to be done partially or entirely online.
The category includes Atrium, a platform launched by UBS in 2017 which eventually evolved into UBS Key4 Mortgages, and Valuu, launched by PostFinance in 2019. HypoPlus, Hypotheke and MoneyPark are independent mortgage loan platforms that are nevertheless attached to bigger institutions. Fully independent mortgage brokerage firms in Switzerland include RealAdvisor, Resolve, topHypo, Hypohaus, PropertyCaptain and Hypo Advisors.
Though the market for online mortgages remains a niche, the report notes that volumes have grown substantially, reaching an approximate 3.5% share in late 2022.
In the online corporate and public sector debt segment, two homegrown platforms were active in Switzerland at the end of 2022. Loanboox, which has been operational since 2016, has grown rapidly in the loan market for public entities, and is now active in twelve European countries. Cosmofunding is the other platform operating in the sector. The platform, which targets public and corporate borrowers, is owned by Bank Vontobel and was launched in 2018.
Finally, in the money market segment, online one platform was active in late 2022. This platform is Instimatch Global and provides digital price discovery, negotiation, counterparty diversification and automated execution of money market products across various sectors and countries.
Marketplace lending trends in Switzerland
The Marketplace Lending Report Switzerland 2023 highlights key trends observed in 2022 in the Swiss marketplace lending ecosystem, which are anticipated to continue shaping the industry’s trajectory.
One significant trend is the increasing emphasis on sustainability, with platforms beginning to integrate environmental considerations into their lending practices. Initiatives like “green mortgages” by UBS Key4 Mortgages, green scoring systems, and sustainability-integrated decision-making processes are emerging, indicating a shift towards more environmentally conscious lending products. Marketplace lending platforms are also addressing climate change concerns by facilitating emission-reducing projects for Swiss municipalities.
Another trend outlined in the report is the evolution of the mortgage brokerage business. With growth rates starting to decline, it expects the business-to-consumer sector to see some stagnation or even a decrease in volume in 2023 and 2024, prompting a shift towards the business-to-business sector.
Finally, another key trend is the role of marketplace lending in financial innovation. These platforms, which are leveraging technologies such as artificial intelligence to enhance efficiency and streamline loan evaluations, are contributing to the ongoing evolution of modern finance, the report says.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/hslu-report-growth-momentum-carries-on-in-swiss-marketplace-lending</link><guid>3598</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Growth-Momentum-Carries-on-in-Swiss-Marketplace-Lending-with-Volumes-Rising-16-in-2022-1440x564_c.jpg</dc:content ><dc:text>HSLU Report: Growth Momentum Carries on in Swiss Marketplace Lending</dc:text></item><item><title>French Business Planning Startup Pigment Announces $145 Million Series D</title><description><![CDATA[
									
					
							
					Paris based Pigment announced a $145 million series D funding round, led by ICONIQ Growth. Sandberg Bernthal Venture Partners, as well as several other existing investors including IVP, Meritech, Greenoaks and Felix Capital have also participated in the round.
Pigment was started with one problem in mind: to simplify and inform how business teams plan and make decisions in an increasingly complex environment. Complexity kills efficiency, and it’s everywhere in modern business: constantly shifting macro-conditions that add uncertainty to decision making, disjointed tech solutions, vast volumes of unmanageable data, and organizational silos all play a role.
Indeed, two-thirds of business leaders say their organizations are overly complex, and as a result Pigment’s own research revealed that 89% of finance leaders are making decisions every month based on inaccurate or incomplete data.

Matt Jacobson
“We are exceptionally confident that Pigment is successfully addressing a clear and very large need in the market. This confidence in the market, product and team drove our enthusiasm to continue to support the company’s continued success.”Matt Jacobson, General Partner, ICONIQ Growth


So what are Pigment’s plan?
Raising money is fantastic, but it’s important to have a strategy for it.  Here’s what’s in store for Pigment soon.
1. Build on ease of use to ensure continued adoption
2. Double down on Pigment’s scenario planning capabilities
3. Expand our support for xP&amp;A capabilities
4. Scalability
5. Bolster the team


Featured image credit: Eléonore Crespo and Romain Niccoli, Co-Founder and Co-CEO at Pigment



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		]]></description><link>https://fintechnews.eu/french-business-planning-startup-pigment-announces-145-million-series-d</link><guid>3596</guid><author>Administrator</author><dc:content /><dc:text>French Business Planning Startup Pigment Announces $145 Million Series D</dc:text></item><item><title>N26 Launches Couple Accounts in 21 New Markets</title><description><![CDATA[
									
					
							
					N26 announced the launch of Joint Accounts in 21 new markets.
Joint Accounts allow N26 customers to manage both their personal finances as well as finances shared with a partner – all in the N26 app, and at no extra cost.
This reduces complexity and makes it easier than ever to budget, track expenses, and achieve financial goals together. The new feature will now be available to customers in Austria, Belgium, Denmark, Estonia, Finland, Greece, Iceland, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.
N26 Joint Accounts offer transparency and full control over shared finances
From today, N26 customers in these markets with accounts across all personal membership tiers, including the free N26 Standard, can create a Joint Account with just a few taps, directly within their N26 App.
Each N26 customer can create one Joint Account, with a maximum of two N26 customers participating in a Joint Account together. Every Joint Account comes with its own dedicated IBAN, making shared expenses like rent payments or household expenditures easy to manage and split. The Joint Account can simply be linked to both customers’ personal virtual or physical cards within the N26 App, for a convenient everyday banking experience.
Valentin Stalf
“N26 customers can open a Joint Account with their partner or loved one in just a few taps, without complexity or tedious paperwork”
said Valentin Stalf, Founder and CEO of N26.
“This way, our customers can easily manage their personal and shared finances within the N26 app, while building healthy financial habits and achieving their financial goals together.”
N26’s Joint Accounts will complement its existing Shared Spaces feature, which allows customers with a premium subscription to create shared sub-accounts with close contacts without the long-term commitment of a joint bank account. Shared Spaces allow customers to budget for holidays and leisure activities with friends, split expenses with roommates, or share larger gifts and purchases, where the owner of the Shared Space is legally the owner of the funds held within. To learn more about Joint Accounts, click here.



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	]]></description><link>https://fintechnews.eu/n26-launches-couple-accounts-in-21-new-markets</link><guid>3597</guid><author>Administrator</author><dc:content /><dc:text>N26 Launches Couple Accounts in 21 New Markets</dc:text></item><item><title>Meet the 10 Fintech Finalist for &gt;&gt;venture&gt;&gt;’s 2024 Startup Competition</title><description><![CDATA[
									
					
							
					The &gt;&gt;venture&gt;&gt; startup competition is a cornerstone event for supporting emerging startups in Switzerland, emphasising the importance of innovation and entrepreneurship.
Introduced to the competition in 2019, the Finance &amp; Insurance category reflects &gt;&gt;venture&gt;&gt;’s commitment to broadening its impact and supporting new ideas in various sectors.
Positioned as the premier platform in Switzerland for showcasing and developing groundbreaking business ideas and plans, &gt;&gt;venture&gt;&gt; plays a crucial role in empowering young entrepreneurs to transform their visions into reality. This effort is central to stimulating the exploration of untapped innovation.
Highlighting this commitment, the top 10 finalists for the 2024 &gt;&gt;venture&gt;&gt; startup competition in the Finance &amp; Insurance category have now been announced.
These finalists represent the forefront of Swiss innovation and promise within the finance and insurance sectors, and they are listed here in alphabetical order:

CLIMADA Technologies


CLIMADA Technologies, specialising in climate risk analytics, has crafted a scalable software solution to provide advanced, forward-looking analysis for client-exposed locations. This comprehensive tool addresses acute and chronic hazards and caters to various needs, including regulatory reporting, detailed resilience assessments, and the investigation of suitable adaptation strategies.

CrowdTransfer

CrowdTransfer has developed a platform that allows fans to support their favourite sports clubs by crowdfunding tokens associated with player transfers or existing team members. Token holders can enjoy social perks and earn rewards based on the player’s performance, with a potential payout when the contract ends. These tokens can also be exchanged on a secondary market among fans.

Decentralized Energy Corporation

Decentralized Energy Corporation (DEC) is launching a platform that enables businesses to buy precise fractions of photovoltaic plants. This allows them to meet sustainability regulations effortlessly, instantly, and passively by becoming producers of green energy.

Elysium Lab Sagl


Elysium Lab Sagl is developing a digital wallet emphasising asset management and payments. Their multi-factor Key Algorithm introduces a new approach to self-custody, significantly enhancing security measures for digital asset ownership.

Evorest


Evorest is addressing the issue of inactive rental deposits in Switzerland, estimated at around 15 billion CHF, by enabling tenants to invest these funds in ETFs. This approach offers a potential return and a way to mitigate inflation. The platform’s intuitive web app simplifies the process for tenants and property managers, allowing them to open quickly and close deposits within 24 hours. This enhances efficiency and presents an alternative to traditional, complex bank processes.

Fortunnity


Fortunnity is revolutionising personal finance management by offering an application that tracks your wealth and makes managing it fun and educational. The platform is committed to making wealth management accessible to everyone, turning personal finance into an engaging and informative experience.

Infrabase


Infrabase is set on narrowing the infrastructure investment gap and drawing foreign direct investments into regions needing infrastructure development. They are developing a SaaS syndication platform that uses advanced machine learning and AI to enhance the precision of its matching algorithm. Additionally, it offers a comprehensive clinic to prepare infrastructure projects for investment, aiming to catalyse growth in underdeveloped areas.

IngageMe!

IngageMe! introduces a cutting-edge, incentive-based underwriting simulator that integrates AI, gamification, and Web3 technologies for the global insurance sector. It aims to enhance financial literacy while attracting, educating, and retaining talent through engaging gameplay, personalised AI coaching, and unique NFT rewards, setting a new standard in insurance training.

MC² Finance AG

MC² Finance AG merges blockchain technology and regulatory compliance to provide an automated platform for managing digital asset portfolios. Catering to the modern investor’s demand for intelligent, adaptable, and secure investment options, it features intent-based development, ensures on-chain transparency, and facilitates cross-chain operations, redefining digital asset management.

Moon AI

Moon AI arms venture capitalists with AI-powered tools that refine investment strategies enabling them to pinpoint and invest in startups with substantial growth potential more accurately. By evaluating a company’s financial health, market potential, and competitive position, Moon AI empowers investors to make data-driven decisions, enhancing the efficiency and effectiveness of venture capital initiatives.

What it means to be a finalist
The climax of the Finance &amp; Insurance category at the &gt;&gt;venture&gt;&gt; startup competition will see finalists pitching their groundbreaking ideas to an expert panel tasked with crowning the sector’s standout. The winning team will be awarded CHF 30,000 and advance to the competition’s grand finale, setting the stage for an even greater challenge.
At the finale, the top three finalists from each sector will contend for the top honour, with the chance to secure up to CHF 150,000 and the prestigious opportunity to present their vision to the &gt;&gt;venture&gt;&gt; Advisory Board.
This stage of the competition is not just about the prize; it’s a gateway to unparalleled exposure and support within the dynamic Swiss startup ecosystem.
The &gt;&gt;venture&gt;&gt; finance &amp; insurance finalists bring innovative solutions with the power to redefine the industry. As anticipation builds, the startup community and beyond are eager to see which team will rise to the top.
Mark your calendars for the Award Ceremony on June 17, 2024. This occasion is open to all and free of charge, promising a glimpse into the future of finance and insurance innovation. For more insights into this electrifying event, visit www.venture.ch.
Featured image credit: Edited from Freepik


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			&#13;
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		]]></description><link>https://fintechnews.eu/meet-the-10-fintech-finalist-for-ventures-2024-startup-competition</link><guid>3594</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Climada-Technologies.png</dc:content ><dc:text>Meet the 10 Fintech Finalist for &gt;&gt;venture&gt;&gt;’s 2024 Startup Competition</dc:text></item><item><title>Meet the 10 Fintech Finalists for &gt;&gt;venture&gt;&gt;’s 2024 Startup Competition</title><description><![CDATA[
									
					
							
					The &gt;&gt;venture&gt;&gt; startup competition is a cornerstone event for supporting emerging startups in Switzerland, emphasising the importance of innovation and entrepreneurship.
Introduced to the competition in 2019, the Finance &amp; Insurance category reflects &gt;&gt;venture&gt;&gt;’s commitment to broadening its impact and supporting new ideas in various sectors.
Positioned as the premier platform in Switzerland for showcasing and developing groundbreaking business ideas and plans, &gt;&gt;venture&gt;&gt; plays a crucial role in empowering young entrepreneurs to transform their visions into reality. This effort is central to stimulating the exploration of untapped innovation.
Highlighting this commitment, the top 10 finalists for the 2024 &gt;&gt;venture&gt;&gt; startup competition in the Finance &amp; Insurance category have now been announced.
These finalists represent the forefront of Swiss innovation and promise within the finance and insurance sectors, and they are listed here in alphabetical order:

CLIMADA Technologies


CLIMADA Technologies, specialising in climate risk analytics, has crafted a scalable software solution to provide advanced, forward-looking analysis for client-exposed locations. This comprehensive tool addresses acute and chronic hazards and caters to various needs, including regulatory reporting, detailed resilience assessments, and the investigation of suitable adaptation strategies.

CrowdTransfer

CrowdTransfer has developed a platform that allows fans to support their favourite sports clubs by crowdfunding tokens associated with player transfers or existing team members. Token holders can enjoy social perks and earn rewards based on the player’s performance, with a potential payout when the contract ends. These tokens can also be exchanged on a secondary market among fans.

Decentralized Energy Corporation

Decentralized Energy Corporation (DEC) is launching a platform that enables businesses to buy precise fractions of photovoltaic plants. This allows them to meet sustainability regulations effortlessly, instantly, and passively by becoming producers of green energy.

Elysium Lab Sagl


Elysium Lab Sagl is developing a digital wallet emphasising asset management and payments. Their multi-factor Key Algorithm introduces a new approach to self-custody, significantly enhancing security measures for digital asset ownership.

Evorest


Evorest is addressing the issue of inactive rental deposits in Switzerland, estimated at around 15 billion CHF, by enabling tenants to invest these funds in ETFs. This approach offers a potential return and a way to mitigate inflation. The platform’s intuitive web app simplifies the process for tenants and property managers, allowing them to open quickly and close deposits within 24 hours. This enhances efficiency and presents an alternative to traditional, complex bank processes.

Fortunnity


Fortunnity is revolutionising personal finance management by offering an application that tracks your wealth and makes managing it fun and educational. The platform is committed to making wealth management accessible to everyone, turning personal finance into an engaging and informative experience.

Infrabase


Infrabase is set on narrowing the infrastructure investment gap and drawing foreign direct investments into regions needing infrastructure development. They are developing a SaaS syndication platform that uses advanced machine learning and AI to enhance the precision of its matching algorithm. Additionally, it offers a comprehensive clinic to prepare infrastructure projects for investment, aiming to catalyse growth in underdeveloped areas.

IngageMe!

IngageMe! introduces a cutting-edge, incentive-based underwriting simulator that integrates AI, gamification, and Web3 technologies for the global insurance sector. It aims to enhance financial literacy while attracting, educating, and retaining talent through engaging gameplay, personalised AI coaching, and unique NFT rewards, setting a new standard in insurance training.

MC² Finance AG

MC² Finance AG merges blockchain technology and regulatory compliance to provide an automated platform for managing digital asset portfolios. Catering to the modern investor’s demand for intelligent, adaptable, and secure investment options, it features intent-based development, ensures on-chain transparency, and facilitates cross-chain operations, redefining digital asset management.

Moon AI

Moon AI arms venture capitalists with AI-powered tools that refine investment strategies enabling them to pinpoint and invest in startups with substantial growth potential more accurately. By evaluating a company’s financial health, market potential, and competitive position, Moon AI empowers investors to make data-driven decisions, enhancing the efficiency and effectiveness of venture capital initiatives.

What it means to be a finalist
The climax of the Finance &amp; Insurance category at the &gt;&gt;venture&gt;&gt; startup competition will see finalists pitching their groundbreaking ideas to an expert panel tasked with crowning the sector’s standout. The three winning teams will be awarded CHF 80,000 in total and advance to the competition’s grand finale, setting the stage for an even greater challenge.
At the finale, the top finalist from each sector will contend for the top honour, the Grand Prize, with the chance to secure up to CHF 150,000 and the prestigious opportunity to present their vision to the &gt;&gt;venture&gt;&gt; Advisory Board.
This stage of the competition is not just about the prize; it’s a gateway to unparalleled exposure and support within the dynamic Swiss startup ecosystem.
The &gt;&gt;venture&gt;&gt; finance &amp; insurance finalists bring innovative solutions with the power to redefine the industry. As anticipation builds, the startup community and beyond are eager to see which team will rise to the top.
Mark your calendars for the Award Ceremony on June 17, 2024. This event is open to all and free of charge, promising a glimpse into the future of finance and insurance innovation. For more info about this event, visit www.venture.ch and subscribe to their newsletter.
Featured image credit: Edited from Freepik


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		]]></description><link>https://fintechnews.eu/meet-the-10-fintech-finalists-for-ventures-2024-startup-competition</link><guid>3595</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/04/Climada-Technologies.png</dc:content ><dc:text>Meet the 10 Fintech Finalists for &gt;&gt;venture&gt;&gt;’s 2024 Startup Competition</dc:text></item><item><title>N26 Goes Live With Stocks and ETFs Trading in Germany, 0.90EUR per Trade</title><description><![CDATA[
									
					
							
					N26 announced the launch of its Stocks and ETFs trading product in Germany.
The company also announced an increased interest rate of 4% on Instant Savings for N26 Metal customers from April 9th, 2024.
With the introduction of N26 Stocks and ETFs, customers will be able to manage their investment portfolio directly alongside their personal bank account, savings accounts, joint accounts, and their crypto portfolio, all within the N26 app.
The new Stocks and ETFs trading product will allow customers to buy and sell shares of hundreds of the most popular European and US assets, and invest in global ETFs. The range of assets available to trade is set to expand progressively to over a thousand stocks and ETFs in the coming months.

With a simple pricing structure of a fixed 0.90 EUR per trade, German customers will be able to invest at one of the most competitive prices in the market, without being charged commissions or custody fees.
N26 customers with N26 You and N26 Metal memberships will also be able to benefit from free trades as part of their subscription. N26 You customers will have 5 free transactions per month included as part of their membership, while N26 Metal customers will get 15 free transactions per month. In addition, the digital bank plans to roll out free recurring Investment Plans in the upcoming months, giving all customers access to fee-free investing.
Valentin Stalf
Valentin Stalf, Founder and CEO at N26, said:
“With this new feature, we are expanding our product portfolio at once to offer our customers one of the most attractive investment and saving products in Germany.”
N26 Stocks and ETFs will be made available progressively to eligible customers in Germany over the coming weeks.


*Source: German Stock Institute (Deutsches Aktieninstitut) 2023 data, where 17.6% of Germans over the age of 14 currently own stocks, stock funds or ETFs.


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	]]></description><link>https://fintechnews.eu/n26-goes-live-with-stocks-and-etfs-trading-in-germany-090eur-per-trade</link><guid>3593</guid><author>Administrator</author><dc:content /><dc:text>N26 Goes Live With Stocks and ETFs Trading in Germany, 0.90EUR per Trade</dc:text></item><item><title>European Fintech M&amp;A Poised for Rebound as Traditional Banks Eye Struggling Fintech Startups</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 25, 2024
																				





					
					
							
					Mergers and acquisitions (M&amp;A) activity in the European banking sector is expected to rebound this year as lower valuations are anticipated to entice traditional lenders to snap up struggling fintech startups to enhance their tech capabilities and expand their portfolio of products, a new report by market data and intelligence platform S&amp;P Global Market Intelligence says.
While 2023 was a lackluster year for dealmaking in the European banking sector, 2024 is presenting favorable moves in inflation data and introducing strong prospects of joint ventures and partnerships with fintech startups.
In 2023, fintech M&amp;A deals globally totaled US$29.92 billion, down by more than 20% from US$37.56 billion in 2021 and by a staggering 60% from the all-time high of US$76.15 billion recorded in 2021, data from S&amp;P Global Market Intelligence show. Deal count also plummeted, pulling back 41% between 2022 and 2023 to 261. The figure is half of the number of fintech M&amp;A deals in 2021 of 572.
Fintech and payments M&amp;A deals announced since 2021, Source: S&amp;P Global Market Intelligence, Jan 2024
Looking at the European market in particular, data from Flagship Advisory Partners reveal that fintech M&amp;A in Europe hit a new low in H2 2023. This pullback was driven in large part by challenging macro-economic conditions with high inflation and interest rates, and was further amplified by fintech stakeholders refusing to lower valuations, the fintech consulting and M&amp;A advisory firm says.
Fintech M&amp;A in Europe, Source: Flagship Advisory Partners, Dec 2023
In 2023, several deals fell through, but this year promises new strategic opportunities in fintech M&amp;A. As many fintech companies will continue to struggle for profitability and grapple for capital, banks will look to capitalize on stressed situations to acquire valuable assets at a discount to enhance their services, reach new customer segments and stay competitive, the S&amp;P Global Market Intelligence report says.
Payment is expected to be one area of particular focus, driven by the growing need for modernization. “As the payments chain becomes more digitized, it’s likely to be to an extent disruptive to M&amp;A markets, and we think that presents a potential opportunity,” Tom Macdonald, head of banking at Deloitte, told S&amp;P Global Market Intelligence.
“It is a sector where stock markets have repriced many of those institutions, which perhaps could lead to more [M&amp;A] activity.”
Activity in payments has already begun in 2024 with French lender Credit Agricole buying a 7% stake in Paris-based payment group Worldline, a deal that came after Worldline’s share price fell nearly 70% in a year, the report notes.
There will also be demand for deals in specialty finance, such as mortgage lending, and investment banking as European banks look to strengthen their positions by expanding growth areas or by adding new capabilities.
This was the case for Deutsche Bank, which purchased investment bank Numis in October 2023, to expand overseas; as well as for Credit Agricole’s Indosuez Wealth Management, which acquired in August 2023 a majority stake in Bank Degroof Petercam, a European wealth manager, to access growth without relying on costly and scarce capital.
Additionally, European banks will likely seek to consolidate to compete more effectively against the growing market share of North American investment banks on the continent. Reports suggesting that Deutsche Bank was considering taking over ABN AMRO Bank and Commerzbank are hinting at that, indicating that 2024 could be a year of large-scale mergers in the European banking industry, the S&amp;P Global Market Intelligence report says.
American law firm White &amp; Case expects that in 2024, European banks will continue to heavily invest in digital transformation strategies to not only meet customer demands and enhance customer experience, but also better manage costs and mitigate risks.
The firm says that top technologies are now “must have” tools as banks face escalating costs from traditional brick and mortar product delivery models, increasing sophistication of cyberattacks and financial crime penetration, as well as fierce competition from digital challengers and neobanks.
White &amp; Case forecasts that while new entrants in the tech market may find it challenging to secure financial sponsor or bank equity in 2024, investor appetite will remain strong for technology that enhances existing business lines, addresses cybersecurity concerns, or improves regulatory compliance.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/european-fintech-ma-poised-for-rebound-as-traditional-banks-eye-struggling-fintech-startups</link><guid>3592</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/European-Bank-MA-Poised-for-Rebound-as-Traditional-Lenders-Eye-Struggling-Fintech-Startups-for-Tech-Enhancement-Portfolio-Expansion-1440x564_c.jpg</dc:content ><dc:text>European Fintech M&amp;A Poised for Rebound as Traditional Banks Eye Struggling Fintech Startups</dc:text></item><item><title>Blackrock Launches Its First Tokenized Fund on Ethereum</title><description><![CDATA[
									
					
							
					BlackRock unveils its first tokenized fund issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (“BUIDL”)
BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.
Robert Mitchnick
“This is the latest progression of our digital assets strategy,”
said Robert Mitchnick, BlackRock’s Head of Digital Assets.
“We are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize.”
Tokenization remains a key focus of BlackRock’s digital asset strategy. Through the tokenization of the Fund, BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms. BNY Mellon will enable interoperability for the Fund between digital and traditional markets.
BUIDL seeks to offer a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets as new tokens each month. The Fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements, allowing investors to earn yield while holding the token on the blockchain. Investors can transfer their tokens 24/7/365 to other pre-approved investors. Fund participants will also have flexible custody options allowing them to choose how to hold their tokens.
The initial ecosystem participants in BUIDL include Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks, among other market participants and infrastructure providers in the crypto industry.
BlackRock Financial Management will be the investment manager of the Fund and Bank of New York Mellon will serve as the custodian of the Fund’s assets and its administrator. Securitize will act as a transfer agent and tokenization platform, managing the tokenized shares and reporting on Fund subscriptions, redemptions, and distributions. Securitize Markets will act as placement agent, making the Fund available to eligible investors. PricewaterhouseCoopers LLP has been appointed as the Fund’s auditor for the period ending December 31, 2024.
The Fund will issue shares pursuant to Rule 506(c) under the Securities Act of 1933 and Section3(c)(7) of the Investment Company Act. The Fund’s initial investment minimum is $5 million.
Blackrock Invests into Securitize
BlackRock has also made a strategic investment in Securitize. As part of the investment, Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize’s Board of Directors.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/blackrock-launches-its-first-tokenized-fund-on-ethereum</link><guid>3591</guid><author>Administrator</author><dc:content /><dc:text>Blackrock Launches Its First Tokenized Fund on Ethereum</dc:text></item><item><title>Redefining Resilience for Banks in the Digital Era With the Four Zeros</title><description><![CDATA[
									
					
							
					The banking industry stands at the brink of a major transformation, driven by rapid technological advancements and changing customer expectations in a dynamic digital landscape.
This transformation is not without its challenges, as banks grapple with the critical task of bridging the gap between traditional banking services and the demands of a digital-first customer base. 
Factors such as the unbanked population, system outages, cybersecurity threats, and the rise of fintechs pose significant barriers to this connection, underscoring the urgent need for banks to fortify their operational resilience (OpRes) and Information Technology resilience (ItRes). 
In this context, the notion of resilience transcends its conventional boundaries to become a catalyst for intelligence within the banking sector. 
Redefining resilience is not a mere response mechanism to adversity but a proactive enabler of intelligence, innovation, and inclusive financial services.
The disconnect between banking services and customers
The banking industry faces several obstacles in maintaining a seamless connection with its customers, each presenting unique challenges that necessitate a reevaluation of traditional operational frameworks. 
The unbanked or underbanked populations remain largely isolated from financial services due to geographical, socio-economic, or regulatory barriers. System outages further exacerbate this disconnect, eroding trust and reliability in digital banking platforms. 
Cybersecurity threats loom large, instilling fear and apprehension among customers concerning the safety of their personal and financial data. 
The emergence of fintechs has introduced a layer of disintermediation, weakening the direct relationship between banks and their customers by offering alternative, often more user-friendly and innovative, financial solutions.
Huawei’s steps towards resilient banking
In this complex backdrop, the concept of resilience emerges as a cornerstone for not only safeguarding against these challenges but also as a springboard for leveraging intelligence and innovation. 
Resilience in the banking sector must evolve beyond the traditional focus on recovery and stability, to encompass the enablement of dynamic, intelligent systems that can anticipate change, mitigate risks proactively, and offer personalised, real-time services to customers.
Huawei has been at the forefront of this transformation, partnering with some of the world’s largest banks across Germany, Singapore, Italy, Brazil, and South Africa, and serving over 3,300 financial customers globally. 
The company’s strategic focus on building resilient infrastructure, accelerating application modernisation, enhancing data-driven decisions, and enabling business scenario innovation, marks a significant leap towards redefining resilience in the banking sector.
The Four Zeros: A new paradigm for banking resilience

Drawing inspiration from Brett King’s Bank 4.0, Huawei proposes a paradigm shift towards ‘Bank Four Zeros’ – zero downtime, zero wait, zero-touch, and zero trust.
 This model prioritises the delivery of always-on, stable, and reliable services, underpinned by multi-technology collaboration and a ‘design for failure’ approach that embraces chaos engineering principles. 
Such a framework not only ensures operational continuity and security but also facilitates digital engagement, real-time insights, and hyper-personalisation, thus redefining the essence of resilience in the digital banking era.
Zero Downtime: Ensuring continuous banking operations

Huawei addresses the challenge of zero downtime through its deployment of advanced, multi-active system architecture (MAS) solutions, such as its distributed database and cloud-native infrastructure. 
Huawei’s MAS architecture is designed to support real-time, uninterrupted banking services, ensuring that financial institutions can offer their customers 24/7 access to banking operations. 
This approach is complemented by Huawei’s GaussDB, a next-generation distributed database that enhances the resilience and scalability of banking systems, thereby minimising the risk of service interruptions and achieving the high availability that modern banking demands. 
In the last decade, GaussDB has been deployed on a large scale across multiple top banks in China. Thanks to its focus on security, availability, and performance, GaussDB has supported over two billion peak daily transactions since its launch in April 2022. 
This is the world’s largest cloud-native core development practice, Going forward, GaussDB will be an ideal choice to ensure Zero Downtime.
Zero Touch: Automating and streamlining operations
Huawei’s commitment to zero-touch is evident in its development of AI, machine learning, and robotic process automation (RPA) technologies. These technologies automate routine banking operations, from customer service to compliance checks, reducing manual interventions and the potential for human error. 
Huawei Autonomous Driving Network has been enhanced from 1-3-5 to 0-1-3-5 (“0” means “0 Human Errors”), helping the finance industry embrace Zero Touch operations.
Digital Map, as a critical capability, has helped a leading bank achieve 88 percent faster troubleshooting, one-click simulation of application changes, and 50 percent faster risk assessment. It also ensures 100 percent accuracy in network configuration changes while reducing touch time by 90 percent.
By adopting Huawei’s zero-touch technologies, banks can not only enhance their service quality but also redirect their resources toward innovation and strategic growth initiatives.
Zero Trust: Enhancing cybersecurity measures
In alignment with the zero-trust principle, Huawei offers a comprehensive suite of cybersecurity solutions designed to protect banks’ digital infrastructure and customer data from evolving threats.
Huawei has provided the industry’s first multi-layer anti-ransomware solution. It uses firewalls to detect and the storage air gap to isolate viruses in seconds, preventing intrusions in a timely manner.
By implementing Huawei’s zero-trust security model, financial institutions can build a robust defence against cyber threats, ensuring the integrity and confidentiality of their digital transactions and fostering trust among their customers.
Zero Wait: Delivering real-time banking services
To achieve zero wait, Huawei leverages its expertise in data analytics and artificial intelligence, enabling banks to process transactions and customer inquiries with minimal latency.
Huawei Data Intelligence Solution is tailored to enhance the speed and efficiency of banking services, ensuring instant response times for customer interactions and real-time processing of financial transactions.
By integrating Huawei’s cutting-edge technology, banks can significantly improve their operational efficiency and customer satisfaction, offering a seamless and responsive banking experience that meets the expectations of today’s digital-savvy consumers.
Resilience as the bedrock of intelligent banking
The banking industry is at a pivotal moment, facing the dual forces of challenge and opportunity as it moves towards digital transformation. This journey, while complex, opens doors to greater innovation, intelligence, and accessibility within the sector.
Redefining the concept of resilience is key to this transformation. It enables banks to move beyond traditional operational boundaries, embracing new possibilities for growth and customer engagement. 
Huawei’s approach to building a resilient and intelligent banking ecosystem serves as a guiding framework for the industry, helping banks adapt and thrive in a digital-first world.
Resilience is vital to the banking industry’s future development. Huawei’s focus on the “Four Zeros” – zero downtime, zero wait, zero touch, and zero trust – outlines a comprehensive strategy for banks to address the evolving demands of digital transformation.
By leveraging Huawei’s advanced technologies and solutions, financial institutions can maintain continuous operations, offer instant services, streamline processes through automation, and ensure robust cybersecurity measures.
Collaborating with Huawei allows banks to improve their operational efficiency and intelligence, positioning them well in a competitive and changing financial landscape.


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	]]></description><link>https://fintechnews.eu/redefining-resilience-for-banks-in-the-digital-era-with-the-four-zeros</link><guid>3590</guid><author>Administrator</author><dc:content >https://fintechnews.sg/wp-content/uploads/2024/03/Huawei.jpg</dc:content ><dc:text>Redefining Resilience for Banks in the Digital Era With the Four Zeros</dc:text></item><item><title>Solaris Raises 96 Million EUR Series F</title><description><![CDATA[
									
					
							
					Solaris announced the signing of its Series F round led by SBI Group and other existing investors.
The current round consists of EUR 96 million in additional capital and a financial guarantee of up to EUR 100 million capital equivalent. Solaris will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program, strengthen its core capital and invest in the resilience of its platform.
Carsten Höltkemeyer
“This is a significant milestone for Solaris on our path to sustainable, profitable growth. The funding underlines the high level of confidence our investors have in the transformation of our company. 2024 heralds a bright new chapter for Solaris and we are committed to delivering on our business priorities, enhancing the product offering for our partners and making regulatory compliance our USP. I am proud of our team, which is passionate about defending and extending our market leadership. Together, we will now build a new Solaris.”
Carsten Höltkemeyer, CEO of Solaris
The funding round was led by SBI Group, one of Solaris‘ early strategic investors, and will enable the delivery of the ADAC migration. In September 2022, Solaris secured a long-term agreement to become ADAC’s co-branding credit card partner, issuing more than 1.2 million credit cards going forward. In July 2023, Solaris closed its first round of Series F funding at EUR 38 million, also led by existing investors, with the funds being used to strengthen governance and compliance and navigate the challenging market environment.



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		]]></description><link>https://fintechnews.eu/solaris-raises-96-million-eur-series-f</link><guid>3588</guid><author>Administrator</author><dc:content /><dc:text>Solaris Raises 96 Million EUR Series F</dc:text></item><item><title>Swiss Financial Innovation Desk Launches Fintech Hackathon</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 20, 2024
																				





					
					
							
					FIND, the new formed government supported Swiss Financial Innovation Desk (FIND), announced the launch of its flagship event “SwissHacks”, a fintech-focused hackathon powered by Tenity.
FIND aims to concierge and hatch financial innovation and consolidate Switzerland’s leadership in the global financial arena by having the smartest minds solve real-world issues within 48 hours and link prototype solutions with corporates and investors.
The hackathon is set to occur 28-30 June 2024, the weekend prior to the Point Zero Forum, a renowned platform for global leaders to address latest developments in financial technology and the future of finance.
As an independent unit within the State Secretariat for International Finance of the Federal Department of Finance, FIND serves as the catalyst for financial innovation in Switzerland. The desk’s mission is to promote financial innovation through concierging dialogue and collaboration between innovation projects, research, investors, and authorities at both national and international levels.
SwissHacks 2024 as a Premiere
With the premiere of SwissHacks 2024, FIND invites students, developers, designers, entrepreneurs, and finance professionals to tackle real-world challenges and opportunities within the financial sector. It encourages seasoned hackatheers and hackanewbies alike to immerse in SwissHacks 2024.
Participants will have the chance to showcase their innovative prototype solutions and ideas in front of a panel of visionaries, industry experts and potential investors. FIND’s flagship event promises to be a melting pot of creativity and innovation, generating actionable solutions that contribute to the future of finance and benefits society at large.
The premiere of SwissHacks 2024 is made possible through innovation rockstar partners and challenge sponsors SIX, Julius Baer, Ripple, Postfinance, and Microsoft in collaboration with Unique, as well as innovation visionary partners Raiffeisen and Finance Swiss, as well as more partners yet to be announced.
Eva Selamlar
For Eva Selamlar, Head of FIND,
“SwissHacks 2024 is a first. Never before has there been a Swiss government driven hackathon with an exclusive focus on financial innovation. Switzerland is the cradle of finance, education and entrepreneurial spirit. All we need to do is to unleash this DNA by putting the cleverest to work on five distinct problems. Best case is we see visionary and scalable solutions that address pressing societal challenges, worst case is we are smarter than 48h before and have had a good time with like-minded peers”.
The winning teams will be honored in a closing ceremony in the presence of the State Secretary for International Finance, Daniela Stoffel, but additionally have the opportunity to present their solutions on stage at the Point Zero Forum and at a side event on 2 July 2024 (by invite only) to decision makers and investors from around the world.
Applications for SwissHacks 2024 are open until April 30, 2024.



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	]]></description><link>https://fintechnews.eu/swiss-financial-innovation-desk-launches-fintech-hackathon</link><guid>3589</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/FIND-Concierges-a-Groundbreaking-Hackathon-1440x564_c.jpg</dc:content ><dc:text>Swiss Financial Innovation Desk Launches Fintech Hackathon</dc:text></item><item><title>Global Retail Fintech Funding Shows Resilience, Supported by Banking and Credit Deals</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 19, 2024
																				





					
					
							
					Retail fintech recorded a slight growth in Q4 2023 with deal value increasing by 5% quarter-on-quarter (QoQ) to US$2.6 billion, a modest rise that was driven by large deals in banking and credit verticals, new data released by PitchBook reveal.
The Q4 2023 Retail Fintech Report, released on March 07, 2024, delves into venture capital (VC) funding trends in retail fintech, exploring the largest rounds observed in the sector during the quarter and sharing predictions for what’s to come in 2024.
According to the report, large rounds of funding to startups in the verticals of buy now, pay later (BNPL), consumer lending and digital banking helped sustain retail fintech funding levels in Q4 2023 despite the prolonged downturn that began in 2022.
During that quarter, the largest round of the sector was secured by Tamara, a BNPL startup from Saudi Arabia, which raised a US$340 million Series C in December. Founded in 2020, Tamara is a BNPL platform that provides users with the option to pay in 30 days or in three installments over 60 days at zero interest. Tamara operates in Saudi Arabia, where it is headquartered, the United Arab Emirates (UAE) and Kuwait. The startup has more than 10 million users and over 30,000 partner merchants, including Shein, Jarir, noon, Ikea, eXtra and Farfetch.
After Tamara, Canada’s Koho raised the second largest round of Q4 2023, securing a US$$277.8 million Series D, according to PitchBook. Koho, which was founded in 2014, offers a full-service spending and savings account with no hidden fees that gives cash back on every purchase, and an integrated app that helps users spend smart and save more. The startup claimed more than 500,000 customers in 2022.
Tabby, another BNPL startup from Saudi Arabia, raised the third largest round of Q4 2023, securing US$250.0 million in equity and US$700 million in debt Series D in December. Founded in 2019, Tabby allows users to split their online and in-store purchases into four interest-free payments. The startup, which is active in Saudi Arabia, the UAE, and Kuwait, claims more than 11 million users and 40,000 brands and businesses part of its network, including Amazon, Adidas, H&amp;M and Samsung.
Other notable deals came from wealthtech and consumer payments. Scalable Capital, a German online brokerage, raised a US$227.8 million Series E; Stash, a New York City-based provider of an investing app, closed a US$40 million late-stage round in October; PaySend, a UK-based international money transfer specialist, raised US$65 million in a late-stage round; and YouTrip, a Singapore-based multi-currency digital wallet, secured US$50 million for its Series B.
Retail fintech VC continues its downtrend
Retail fintech VC funding has been on a downtrend since 2022. While VC funding grew by a mere 5% QoQ in Q4 2023, representing the third quarter in a row where VC deal value increased quarterly, deal value remained down by 18.2% year-over-year (YoY) and continued to sit at its lowest level since Q1 2017.
For the full year, retail fintech companies secured US$10 billion in VC, pulling back 57.5% from the US$23.6 billion recorded in 2022.
Retail fintech VC deal activity by quarter, Source: Q4 2023 Retail Fintech Report, PitchBook, Mar 2024
In terms of deal count, retail fintech companies recorded 148 VC rounds in Q4 2023. Compared with the 166 deals seen in Q3 2023, this represents a 36.0% QoQ decrease. On a YoY basis, deal count in Q4 2023 was down by 32.1% compared with the 218 deals seen in the prior year period. 699 deals were logged for 2023, representing a 36% drop from 1,093 deals in 2022.
Retail fintech VC deal activity, Source: Q4 2023 Retail Fintech Report, PitchBook, Mar 2024
The PitchBook report also dives into the new wave of BNPL startups, projecting that BNPL will make a comeback in retail fintech funding this year.
It highlights the case of Klarna, a Swedish BNPL player that has witnessed tremendous growth. In 2023, Klarna booked its biggest ever year in terms of gross merchandise volume (GMV), nearing SEK 1 trillion (US$96 billion) and increasing by 17% from 2022.
The startup says its revenue increased by 22%, reaching SEK 23.5 billion (US$2.3 billion) in 2023. Absolute credit losses reduced by 29% in 2023 while consumer credit losses declined by 32% YoY. Cost efficiencies led to a 95% improvement in adjusted operating result, helping net result to improve by 76% to a loss of SEK 2.5 billion (US$240 million).
Klarna’s last disclosed post-money valuation stood at US$6.7 billion but recent reports suggest a valuation of around US$20 billion.
Klarna offers BNPL loans, which can be paid in installments, within 30 days, or over monthly payments up to 36 months. It also offers debit cards, a monthly subscription service, and business-to-business (B2B) checkout solutions. Klarna, which operates in European, the US and Australian markets, claims 150 million global active users and two million daily transactions.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/global-retail-fintech-funding-shows-resilience-supported-by-banking-and-credit-deals</link><guid>3587</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Global-Retail-Fintech-Funding-Shows-Resilience-Supported-by-Banking-and-Credit-Deals-1440x564_c.jpg</dc:content ><dc:text>Global Retail Fintech Funding Shows Resilience, Supported by Banking and Credit Deals</dc:text></item><item><title>SAP Rolls Out New Cloud Payment Solutions for Retailers</title><description><![CDATA[
									
					
							
					SAP announced a new composable payment solution to help retailers stay ahead of changing customer expectations.
The new solution, SAP Commerce Cloud, open payment framework, helps retailers become more agile as new payment options – such as buy now, pay later – gain popularity.
The framework integrates SAP Commerce Cloud with numerous third-party payment service providers (PSPs), including Stripe, Adyen, Worldpay and Airwallex, based on their specific use case. Additionally, SAP’s composable architecture allows retailers to pick payment partners tailored to their unique needs and international markets, enabling them to build at their own pace, scale their business faster and avoid being confined to a single provider.
Sven Denecken
“SAP’s unmatched industry expertise is the foundation of our strategy, as it enables us to deeply understand the complexities of delivering seamless and positive customer experiences that reinforce the brand promise with every interaction,”
said Sven Denecken, Senior Vice President and Global Head of Product Marketing for SAP Industries &amp; CX.
“SAP’s unique, industry-led approach to composability places the retailer’s digital commerce needs front and center while we work with them to manage their digital transformation, navigate pathways to sustainable growth, and deliver on industry expectations.”
This no-code, low-code framework gives retailers a low-cost, adaptive, and agile payments system that can best fit their business and customer needs. It covers common payment needs and end-to-end payment processes across authorization, capture, refunds, and re-authorization as well as automatic updates with security and compliance standards.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/sap-rolls-out-new-cloud-payment-solutions-for-retailers</link><guid>3586</guid><author>Administrator</author><dc:content /><dc:text>SAP Rolls Out New Cloud Payment Solutions for Retailers</dc:text></item><item><title>Top Trends in Europe’s Digital Finance Landscape</title><description><![CDATA[
									
					
							
					In Europe, digital finance is being driven by the adoption of innovative technologies including artificial intelligence (AI), machine learning (ML), distributed ledger technology (DLT), big data and cloud computing.
These technological advancements are presenting both opportunities and challenges, forcing regulatory and supervisory authorities to adapt and introduce rules to address the risks associated with their use, a paper by the the EU Supervisory Digital Finance Academy (EU-SDFA) says.
The paper, titled “Digital finance in the EU: drivers, risks, opportunities”, presents the challenges and opportunities presented by the rapid digitalization of the financial sector. It provides an outline of some of the main initiatives taken at the European Union level in the field and explores the main technologies and drivers of digital finance.
According to the document, significant transformations have occurred over the past decades in the European financial system, driven by the adoption of innovative technologies. These technologies have led to the emergence of new financial products, services, applications, processes, and business models collectively known as digital finance.
Overall, digital finance is perceived as a positive force in Europe, the paper says, offering a range of benefits to industry stakeholders including improved access to financial services, a wider range of products, a more competitive market environment, and enhanced operational efficiency. Despite this, digital finance is also introducing new challenges and risks associated with the extensive use of technologies including big data, AI and DLT.
Blockchain, AI as key technologies driving innovation in finance
The EU-SDFA paper highlights AI and DLT among the main technologies shaping the transformation of the financial sector, promising increased innovation, improved efficiency, and heightened access to financial services.
Currently, AI technologies and ML algorithms are used across a wide range of applications, utilized to analyze large datasets, identify patterns, and make data-driven predictions in financial decision-making processes. These technologies are applied in functions and processes such as credit scoring models, algorithmic trading systems, and customer segmentation strategies.
Despite their potential, AI and ML also introduce a number of concerns, including issues regarding data privacy and security, algorithmic bias, explainability and transparency, and operational risks related to system failures and errors, the document says.
Europe’s financial services sector is embracing opportunities brought about AI adoption at a fast pace. A 2023 survey conducted by EY found that 60% of the senior business leaders polled actively invested in generative AI over the prior year. 75% of executives planned to increase capital allocation over the year ahead.
DLT and blockchain, meanwhile, are praised for their potential to transform the financial system by replacing intermediaries with direct interactions among financial market participants. These technologies allow for the creation of distributed ledgers that record transactions and which are shared across a network of nodes using a consensus mechanism, enabling secure, transparent, and decentralized transactions.
Compelling applications of blockchain and DLT in finance include cryptocurrency transactions, smart contracts, tokenization of assets, supply chain finance, and identity verification. These applications have the potential to streamline processes, reduce fraud, and enhance security in financial transactions, the paper says.
Though DLT and blockchain are poised to introduce a number of benefits, their adoption has regulatory implications and risks, the report says. The regulatory landscape surrounding DLT and blockchain technologies is still evolving, leading to uncertainty for market participants and regulators. Additionally, DLT and blockchain systems are not immune to cybersecurity threats, including hacking, data breaches, and malicious attacks.
The paper also notes scalability issues, such as network congestion and slow transaction processing times, which are hampering the widespread adoption of blockchain technology in high-volume financial transactions, in addition to data privacy and protection concerns.
Key EU regulatory initiatives
To address these risks and ensure fair and equitable outcomes for all participants in the financial ecosystem, the European Commission has introduced significant policy initiatives to govern digital finance.
The Digital Finance Strategy for the EU, adopted in September 2020, is the most prominent and comprehensive one, serving as a framework to regulate risks, support the ongoing digital transformation of finance, and enhance Europe’s competitiveness.
The Digital Finance Package includes a number of regulatory proposals covering cryptocurrencies, operational risks, and payment innovation.
The Markets in Crypto-Assets Regulation (MiCA), which officially entered into force in June 2023, establishes uniform EU market rules for crypto-assets. The regulation covers crypto-assets that are fungible and which had so far not been regulated by existing financial services legislation. Key provisions on regulated entities issuing and trading crypto-assets cover transparency, disclosure, authorization and supervision of transactions.
The framework aims to promote responsible innovation in crypto-asset markets while providing heightened market integrity, consumer and investor protection, and preserving financial stability.
The second main legislative proposal included in the 2020 Digital Finance Package focuses on addressing the risks associated with the financial sector’s growing dependence on software and digital processes.
The regulation, called the Digital Operational Resilience Act, entered into force on January 16, 2023 and aims to strengthen firms’ capacity to withstand technological disruptions and threats, mandating compliance with strict requirements to prevent and limit the impact of incidents. In addition, the framework outlines a mechanism to oversee service providers which provide cloud computing services to financial institutions. The regulation is to apply as of January 27, 2025.
Other initiatives included in the EU Digital Finance Package include the 2020 Retail Payments Strategy, which focuses on enhancing the European payments market through digitalization; the framework for Financial Data Access (FICA), which aims to promote data-driven finance and open finance; the Data Hub, which seeks to offer specific non-personal data sets to firms for product testing and AI model training; and the so-called “Single Currency Package”, which aims to safeguard the role of cash and proposes a framework for a digital euro.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/top-trends-in-europes-digital-finance-landscape</link><guid>3585</guid><author>Administrator</author><dc:content /><dc:text>Top Trends in Europe’s Digital Finance Landscape</dc:text></item><item><title>Citi Ventures Invests in Core Banking Provider Tuum</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 14, 2024
																				





					
					
							
					Tuum, a London and Tallinn based core banking provider, announced that Citi Ventures, a venture capital arm of US-headquartered Citigroup, has become a strategic investor in the company as a follow-on from Tuum’s recently announced series B fundraising.
At the start of February, Tuum announced a EUR25m Series B fundraise led by CommerzVentures, the proceeds from which will be used for product and market development. The company plans to expand its international presence — targeting new territories in the DACH region, Southern Europe, and the Middle East — and to accelerate investment in its market-leading solution.
As strategic investors on behalf of Citi, Citi Ventures — whose mission is to catalyze innovation at Citi by investing in and partnering with category-defining startups with the potential to revolutionize financial services — has invested in an extension to the Series B round and plans to introduce Tuum to key stakeholders within the bank to gauge interest in commercialization opportunities.
Luis Valdich
Luis Valdich, a Managing Director responsible for Citi Ventures’ fintech investments globally, commented:
“At Citi Ventures, we have been tracking the modernization of core banking tech stacks for years. After exploring numerous opportunities to invest in next-gen core banking providers, we are excited to invest in Tuum, whose API-first, cloud-agnostic and modular platform promises to strike an optimal balance between no-code hyper-configurability and total cost of ownership that can help accelerate this long overdue transformation across the industry.”
Myles Bertrand
Myles Bertrand, CEO of Tuum, added:
“We are delighted to welcome Citi Ventures as a strategic investor. This investment from one of the largest banking groups in the world, with market-leading positions globally in corporate, private and retail banking, represents a major milestone as well as a significant market endorsement of what Tuum has achieved. We are excited about working with the team and exploring opportunities together.”


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	]]></description><link>https://fintechnews.eu/citi-ventures-invests-in-core-banking-provider-tuum</link><guid>3584</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Citi-Ventures-Invests-in-Tuum-1440x564_c.jpg</dc:content ><dc:text>Citi Ventures Invests in Core Banking Provider Tuum</dc:text></item><item><title>PPRO Secure Additional 85 Million EUR Growth Funding</title><description><![CDATA[
									
					
							
					PPRO, a London based payments platform, has announced the completion of a dual tranche funding round totalling €85 million to pursue growth in key markets and further enhance its global network of local payment methods.
Rahul Raswant
The funding is provided by new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan, Citi Ventures, and funds managed by BlackRock.
“Our focus on helping customers access new markets by creating seamless local payment experiences is validated by the strong demand we’re seeing, as well as by this infusion of capital which represents a real vote of confidence in PPRO’s growth prospects.”
said Rahul Raswant, Chief Financial Officer, PPRO.
Anne-Charlotte Philbert
“PPRO has set itself apart as a leader in the payments industry and is at the forefront of enabling businesses to sell goods and services to anyone in the world using their preferred way to pay,”
added Anne-Charlotte Philbert, Managing Director – Growth at Eurazeo.
“The company combines distinctive technology, robust financial performance with an exceptional management team, and is firmly on track to reach profitability. We are more enthusiastic than ever to continue our support of PPRO’s mission to simplify access to local payment methods.”
“Since our first investment in 2018, PPRO has grown its market reach and prominence in the constantly evolving payments space,”
commented James Loftus, Managing Partner, PayPal Ventures.



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		]]></description><link>https://fintechnews.eu/ppro-secure-additional-85-million-eur-growth-funding</link><guid>3583</guid><author>Administrator</author><dc:content /><dc:text>PPRO Secure Additional 85 Million EUR Growth Funding</dc:text></item><item><title>Fintech Investors in Switzerland</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 13, 2024
																				





					
					
							
					Switzerland boasts a vibrant investment ecosystem supported by a robust network of investors and venture capitalists (VCs). A database created and maintained by The Week in Swiss Startups, in collaboration with swissVC and Swisspreneur, reveals that the market now comprises a total of 127 investors supporting the tech startups in Switzerland and beyond, among which 22 fintech investors.
The database, which relies on publicly available information sourced from official websites, startup platforms such as Crunchbase, Dealroom and Pitchbook, as well as details provided by the investors, reveals that out of the 22 fintech investors recorded in Switzerland, 18 are VCs firms while four are corporate VC (CVC) funds.
These investors are located in strategic locations where the concentration of fintech startups is high. The vast majority of them (10) are based in Zurich, Switzerland’s tech startup hub and biggest fintech ecosystem. Zug, Geneva and Lausanne follow suit with two fintech investors each. Other locations represented include Pfaffikon, Bern, Liechtenstein and Gland.






The data also highlights the prominence of early-stage investors, with 18 out of the 22 fintech investors in Switzerland focusing on pre-seed, seed and Series A stage startups solely. In contrast, only four investors are backing growth and late-stage startups looking to secure Series B rounds or larger investments. These findings corroborate with other research which highlight the lack of follow-on funding capabilities in Switzerland and limited access to VC for later-stage investments.
Early-stage fintech investors
14Peaks Capital

Based in Zug, 14Peaks Capital is an early-stage investor in business-to-business (B2B) software-as-a-service (SaaS) companies located in Europe and the US. Within SaaS the focus is across three core verticals: fintech, proptech, and the future of work.
14Peaks Capital initially partners with founders from pre-seed to Series A and provides on-going support throughout their growth journey via capital, operational involvement, network access and strategic advice.
Fintech companies in 14Peaks Capital’s portfolio include Dutch fraud prevention specialist Threat Fabric, American earned wage access (EWA) provider Rain, and Swiss interconnected cash management platform Instimatch Global.
ACE Ventures

Founded in 2013 and headquartered in Geneva, ACE Ventures invests in early-stage founders building enduring companies in climate tech, deeptech, fintech and software.
Comprised of a team of operators, engineers, and investors, ACE Ventures combines capital with expertise to empower and uplift bold entrepreneurs on their journey. The firm’s engagement extends beyond financial investment, offering meaningful support informed by their own experiences in the grind and hustle of building companies.
ACE Ventures portfolio companies include cloud-based payroll service Dopay, London-based GoCardless, and German digital bank N26.
Allegory Capital

Founded in 2019, Allegory Capital is a venture-building firm providing strategic and operational support to bold entrepreneurs and ideas. The firm focuses on tech startups disrupting regulated industries in Europe and Switzerland, supporting the growth of these startups from seed to Series A stage. It is particularly interested in ventures in digital health, fintech and greentech.
Portfolio companies of Allegory Capital include Unblock, a digital asset platform, Pryv.io, a Swiss personal data and privacy management software provider, and healthcare startup PiQuant.
Alpana Ventures

Alpana Ventures is a Swiss VC firm supporting promising deeptech solutions in Switzerland, Europe and the US. The firm invests in them to embed their solutions into innovative business models. Since 2016, Alpana Ventures has backed 45 founder teams, supporting them in their journey towards a positive impact.
Fintech companies in its portfolio include The Glue, a Belgian software platform provider serving financial institutions, Flowcast, an American AI company that helps financial institutions make smarter credit decisions, and Zact, a real-time corporate expense management solution from the US.
Arc Investors

Arc Investors is a VC firm based in Zurich that supports impact-driven entrepreneurs and cutting-edge technologies poised to reshape traditional ecosystems. Leveraging the partners’ background and access to legacy industries, the firm operates at the intersection of industry and technology, aiming to improve the success rates of entrepreneurial endeavors.
Arc Investors’ investment philosophy emphasizes the importance of connecting relevant dots between established industries and emerging technologies, facilitating validation, de-risking, and accelerating access and scale. The firm engages across sectors, including special situations, with a preference for B2B or business-to-business-to-consumer (B2B2C) solutions in industrial and enterprise technology, fintech and digital health.
Baloise

Baloise is an insurance holding company headquartered in Basel and the third-largest Swiss all-industry insurance provider for individuals and businesses. Its CVC fund focuses on strategic investments in innovative startups and growth-stage companies that align with Baloise’s core business areas and strategic objectives. It partners with innovative startups and emerging companies to stay at the forefront of technological advancements, improve its competitive position, and provide innovative solutions to its customers.
In addition to providing financial support, the CVC fund offers strategic guidance, industry expertise, and access to its network of resources to help portfolio companies succeed and grow.
Helvetia Venture Fund

The Helvetia Venture Fund invests in early-stage startups poised to shape the future of insurance. It is the CVC fund of international insurance Helvetia headquartered in St Gallen. The fund is run by former entrepreneurs and takes a very hands-on approach, placing a lot of emphasis on the relationship with the founders.
Portfolio companies of the Helvetia Venture Fund include Flitter, a mobile-first insurtech focusing on car insurances, Napo, a digital-first pet insurtech startups, and Coinscrap Finance, a financial health artificial intelligence (AI) platform.
Polytech Ventures

Founded in 2015, Polytech Ventures is an early-stage VC firm operating out of Switzerland and Silicon Valley, with a strong international focus. Strategically located at the Swiss Federal Institute of Technology Lausanne (EPFL), which is renowned as one of the world’s foremost innovation hubs, the firm maintains a constant presence in Silicon Valley and aims to bridge global innovation ecosystems.
Polytech Ventures boasts a team of seasoned investment professionals and industry experts with over 100 years of collective experience. The firm invests in seed and early-stage companies operating in the fintech,  proptech, healthtech, human resources (HR) tech and foodtech.
Its portfolio of companies comprises Bitcoin investment app Relai, point-of-sale (POS) terminal provider Kiwi, peer-to-peer (P2P) lending platform Lend as well as Taurus and Neguardian.
PostFinance Ventures

PostFinance Ventures is the CVC fund of PostFinance, a financial institution based in Switzerland. The fund participates in innovative startups, especially those in the fintech sector, supporting these startups with limited funds.
PostFinance Ventures offers various types of participation: CVC, innovation participations, and cooperation participations. It tailors its collaborations to its partners’ needs to ensure every company can benefit as much as possible.
Fintech companies in which PostFinance Ventures has invested in include Swedish climate tech startup Doconomy, German social financial network and personal finance tool provider Moneymeets, and Austrian social trading and investing platform Wikifolio.
Prediction Capital

Prediction Capital is an early-stage consumer tech and fintech investment firm. It partners with pioneering startups and support founders not only financially but also by actively aiding their progress with its expertise and network.
Prediction Capital primarily invests in the German, Austrian and Swiss (DACH) region, and looks for founders with the potential to positively impact society.
Companies in its portfolio include Heritas, a German company automating and standardizing the inheritance process digitally, and Bling, a German mobile application for children banking.
Redstone

Founded in 2014, Redstone is an European VC firm following selected investment strategies. The firm has specialized investment teams for each strategy, a strategy that has enabled it to develop strong sector expertise and networks.
Redstone has created a proprietary startup analytics and data platform called Sofia which allows it to make evidence-based and data-driven investment decisions. This platform enables it to predict industry trends, benchmark the segments, and identify appropriate investment targets.
Redstone is headquartered in Berlin with offices in Zurich and Helsinki. Fintech startups in its portfolio include Atlas Metrics, a German climate fintech startup, Banxware, a German SaaS provider for embedded financial services, and Finanzguru, a German digital and individual financial assistance based on AI.
Seed X Liechtenstein

Seed X Liechtenstein is a European-focused VC firm with strong roots in Liechtenstein. The firm helps startups scale by providing a strong network of experienced entrepreneurs and industry leaders. It selectively collaborates with qualified investors and focuses on investing in strong teams with a clear value proposition and relevant business traction.
Seed X Liechtenstein invests in pre-seed, seed and Series A round, targeting international teams with diverse founders from different genders, races, and nationalities. Its investment scope includes fintech, insurtech, proptech and legaltech startups.
Fintech startups in its portfolio include Elucidate, a financial crime risk quantification platform, Troy, a debt collection platform, and Helvengo, an Internet-of-Things (IoT) insurance platform.
Seedstars International Ventures

Seedstars International Ventures is an industry-agnostic VC fund dedicated to global emerging and frontier markets. The firm has invested in over 30 countries across Latin America, Africa, the Middle East, Europe, and Asia, backing ventures that work to solve key societal challenges such as access to financial services, healthcare, education, or commerce.
Headquartered in Geneva, Seedstars International Ventures operates with a hands-on methodology, emphasizing capacity building, impact investment, community engagement, and market insights. Fintech startups in its portfolio include Cubo from El Salvador, Kuunda from South Africa and Datacultr from India.
SpiceHaus Partners

SpiceHaus Partners is a Swiss VC investor focusing on early-stage companies in the technology sector in Switzerland. The firm’s team combines investment experience and entrepreneurship, believing in creating long-term partnerships between entrepreneurs and investors.
Spicehaus Partners drives digital transformation by backing successful founders, and has a strong investment portfolio with more than 35 companies funded. These startups include Amnis, a payment platform for international money transfer, Descartes Finance, a digital asset manager, and Fidentity, an online identification and digital signature specialist.
Tenity

Tenity is a startup incubator, accelerator and early-stage VC based in Zurich. The firm is primarily focused on powering the future of finance. With its incubator and accelerator, it foster collaboration between startups, incumbents and investors.
Tenity operates the longest-running fintech innovation hub in Switzerland, and is currently running the 11th incubation program in Zurich for ambitious early-stage fintech and insurtech founders. It works with world-leading organizations in Switzerland and beyond, and has a extensive portfolio of startups which includes Dematrading.ai, a crypto startup, SmartPurse, a financial education platform, and Elysium, a self-custody wallet for digital assets.
Tomahawk.vc

Tomahawk.vc is an entrepreneur-led early-stage VC firm focusing on pre-seed, seed and Series A investments. The firm invests in global-first companies, particularly those that are driving digital transformation.
Tomahawk.vc’s portfolio includes companies in various sectors such as fintech, decentralized finance (DeFi), blockchain, and more. These companies include Buynomics, a pricing tools for transactional businesses, Grape, a digital employee insurance company, and Lano, a German software solution enabling businesses to hire and pay full-time employees and contractors.
TX Ventures

TX Ventures is the CVC arm of TX Group, a Swiss media company headquartered in Zurich. The fund invests in companies that democratize access to financial products, empower people to gain financial security, and improve efficiency and sustainability. It targets early-stage startups operating in the fintech, proptech, insurtech and digital assets sectors, focusing on the DACH and broader European region.
Companies in the portfolio of TX Ventures include Monito, a Swiss money transfer startup, Selma Finance, an independent financial advisor, Neon, a Swiss neobanking startup, and Pricehubble, a real estate price intelligence software.
UBS Next

UBS Next is an early-stage VC fund managed by the UBS Group. The fund was launched for the group to further engage with fintech startup and the broader tech ecosystem, accelerate innovation by making strategic venture investments in fintech and enterprise technology companies, and find new ways to engage with its clients and deliver its services.
UBS Next focuses on several key areas: hyper-personalization, sustainability and impact, DeFi, future wealth, platform enhancements, and partner ecosystems.
Its portfolio comprises companies including Synthesized, a data generation platform, Numarics, a platform that digitizes and expands financial and administrative solutions for small and mediums-sized enterprises (SMEs) in Switzerland, and Tenity, the Swiss startup incubator and accelerator.
Late- and multi-stage fintech investors
EQT Partners

EQT Partners is a global investment organization based in Zurich. The firm focuses on active ownership strategies and has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors, and strategies.
EQT Partners’ mission is to invest in good companies across the world and help them develop into great and sustainable companies. To achieve these goals, it provides access to ownership skills and operational expertise, which helps the acquired companies grow and prosper, both under EQT Partners’ ownership and with future owners.
Fintech companies in its portfolio include Mambu, a SaaS cloud banking platform, and Mollie, a payment platform from the Netherlands.
FiveT Fintech

FiveT Fintech is a Swiss investment company that focuses on redesigning financial services through digitization and the use of cutting-edge technologies. Formerly known as Avaloq Ventures, FiveT Fintech collaborates closely with Avaloq’s ecosystem, which includes over 150 financial institutions across more than 30 countries with a total of US$4.5 billion in client assets.
FiveT Fintech engages with 120+ fintech startups. Its mission is to help banks and financial service providers venture into new areas and provide early-stage fintech companies a platform to prosper and scale.
Companies in its portfolio include Assetmax, an integrated software platform that allows independent asset managers to automate repetitive work and to focus on their core business activities, and Metava, a fully integrated digital asset management solution for banks and exchanges, and Optio Pay, an open banking specialist.
G Squared

G Squared is a global VC fund manager established in 2011 and based in Zurich. The firm provides transitional capital to portfolio companies, addressing the growing trend of venture-backed firms staying private for longer durations. It focuses on investing in companies that tackle significant challenges, disrupt industries, and challenge the status quo, offering elite access to value creation in private markets.
G Squared’s portfolio encompasses over 100 companies, including prominent names like Airbnb, Coursera, Instacart, and Spotify, as well as emerging disruptors such as airSlate, Brex, and Gorillas. Fintech startups in its portfolio include Airwallex, a financial services platform for businesses, Brex, a B2B financial product provider, and Chime, an American mobile banking app.
Lakestar

Founded in 2012, Lakestar is a VC firm headquartered in Zurich and with offices in Berlin and London. The firm invests in tech companies led by exceptional entrepreneurs, focusing on sectors including tech, Internet, fintech, healthcare, digitalization infrastructure, industrial, deeptech, gaming, B2B commerce and climate tech.
Lakestar accompanies its founders from seed to exit, and manages an aggregated volume of over EUR 2.8 billion across four funds.
Fintech companies in its portfolio include French insurtech startup Alan, crypto company Blockchain, and enterprise payment infrastructure company Imburse.


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	]]></description><link>https://fintechnews.eu/fintech-investors-in-switzerland</link><guid>3582</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Fintech-Investors-in-Switzerland--1440x564_c.jpg</dc:content ><dc:text>Fintech Investors in Switzerland</dc:text></item><item><title>Unabhängige Finanz News Portale erste Wahl für Anlageentscheidungen</title><description><![CDATA[
									
					
							
					Gut informiert, besser investiert: Wer seine Anlageentscheidungen nach objektiven Kriterien trifft, braucht verlässliche Informationen.
In der Online-Umfrage Trend des Monats März hat der Deutsche Bundesverband für strukturierte Wertpapiere (BSW) Anlegerinnen und Anleger befragt, auf welche Informationsquellen sie überwiegend vertrauen.
Auf Platz eins stehen wie im Vorjahr unabhängige Finanzportale (55,7 Prozent), gefolgt von Zeitungen, Zeitschriften und Magazinen (17,8 Prozent). Ausserdem werden die Internetseiten der Emittenten (10 Prozent), Social Media (8,6 Prozent) sowie Bank- und Anlageberater (7,9 Prozent) zu Rate gezogen.






Christian Vollmuth
„Damit Anlegerinnen und Anleger souveräne Entscheidungen treffen und ihre finanziellen Ziele erreichen können, braucht es Finanz- und Medienkompetenz. Der effiziente Zugang zu Informationen und qualitativer Journalismus mit solider Recherche sind dabei von elementarer Bedeutung für alle, die Vermögen aufbauen, erhalten und absichern wollen.“,
so Christian Vollmuth, geschäftsführender Vorstand des BSW.



An dieser Online-Trendumfrage haben sich insgesamt 995 Personen beteiligt. Die Umfrage wurde gemeinsam mit den Finanzportalen finanzen.net, marktEINBLICKE.de, onvista.de sowie wallstreet-online.de durchgeführt.


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		]]></description><link>https://fintechnews.eu/unabhangige-finanz-news-portale-erste-wahl-fur-anlageentscheidungen</link><guid>3580</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>Unabhängige Finanz News Portale erste Wahl für Anlageentscheidungen</dc:text></item><item><title>2024 IFZ Fintech Report: Swiss Fintech Hubs Fall Behind</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 13, 2024
																				





					
					
							
					Switzerland is losing competitiveness as a global fintech hub, overshadowed by nations including Singapore and Sweden which have been actively improving their support of fintech companies and enhancing their environments to allow for the development of the sector, findings from the latest IFZ Fintech Study by the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) reveal.
2024 Fintech Hub Ranking, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
The IFZ Fintech Study 2024, released earlier this month, gives an overview of the Swiss fintech sector, outlining the developments that occurred over the prior year and sharing emerging trends arising in 2024.
Data show that Swiss fintech hubs Zurich and Geneva experienced a decline in competitiveness in 2023 as other hubs improved their performances relative to these two cities. This year’s edition of the Fintech Hub Ranking, a rating that evaluates the attractiveness of different destinations for fintech companies, reveals that Zurich stepped back from its second-place position to Stockholm, while Geneva dropped from third to fourth place.






Fintech Hub Ranking by year, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
Looking more closely at Zurich and Geneva, the data show that, as in previous years, these Swiss cities performed strongest in the political/legal dimension in 2023. Furthermore, both these cities reported a year-over-year (YoY) improvement in social environmental factors, where they achieved fourth and sixth places, respectively last year. The only deterioration for Zurich and Geneva can be found in the technological dimension, which declined
Concurrently, Sweden’s capital city of Stockholm led the ranking on social dimension, outperforming Singapore, the world leader. But more remarkable, Stockholm witnessed its biggest improvement in the economic dimension, which improved by five ranks last year.
Other locations that recorded notable advances in 2023 include New York City and Toronto, which improved in the social dimension, and Berlin, which improved in the technological dimension. All three cities rose four places in their respective dimensions.
These findings indicate that while Swiss cities are maintaining certain strengths, other cities are making greater strides in creating a favorable environment for fintech companies. As other cities invest in improving their ecosystems for fintech companies, the competition among global fintech hubs is intensifying, putting a greater pressure on Swiss cities and leading to a relative decline in their competitiveness.
PEST dimension rankings, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
In addition to the Fintech Hub Ranking, the IFZ Fintech Study 2024 also features a ranking of the actual fintech ecosystems of different countries, including their numbers of fintech companies per capita, jobs at fintech companies per capita, and the total funding of fintech companies per capita.
The analysis reveals that in 2023, Singapore led the overall ranking, followed by Estonia, Hong Kong, the UK, Luxembourg and Switzerland. This ranking is similar to those of previous years.
Looking at changes, the analysis shows that Singapore maintained its lead in funding per capita, while Estonia led in fintech companies per capita and jobs per capita in 2023. Luxembourg descended three positions in the overall ranking, a decline which is attributed to a significant drop in funding per capita.
Switzerland, ranked 6th, maintained its position in companies per capita, and saw an improvement in funding per capita. However, Switzerland lost one place on jobs per capita, suggesting a decline in the number of fintech jobs available relative to the population size in the country.
Fintech-related output ranks for the top ten countries of the total output ranking, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
Swiss fintech trends
Despite loosing attractiveness to other fintech hubs, the IFZ Fintech Study 2024 reveals that the Swiss fintech industry developed in 2023. Last year, the sector comprised 483 fintech companies, representing a 11% YoY increase in relative terms. In addition, a first-time assessment showed that Liechtenstein was home to 22 fintech companies in late 2023, bringing the total number of fintech companies in Switzerland and Liechtenstein to 505 companies.
Number of Swiss and Liechtenstein fintech companies by year, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
The analysis also reveals that the number of companies offering technologies in the categories of analytics, big data, artificial intelligence (AI), and distributed ledger technology (DLT) grew the most last year.
A YoY comparison shows that companies in DLT category saw the most positive trend with an increase of 40 companies (+30%) compared to 2022, followed by analytics/big data/AI with an additional 27 companies (+24%).
These metrics show that the Swiss fintech sector is increasingly evolving from traditional digitization towards the application of more complex methods and concepts such as AI and blockchain, the report says.
Swiss fintech companies by technology category, Source: IFZ Fintech Study 2024, Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ), Mar 2024
The study also reveals that sustainable fintech is on the rise. Although the sector only accounted for around 10% of all fintech companies in the Swiss and Liechtenstein fintech sector last year, their growth rate was significant, amounting to over 50% in 2023 and therefore rising substantially stronger than that of the fintech sector as a whole.
This growth is not solely driven by new incorporations but is also being driven by existing companies transitioning to sustainable fintech models, the report says. This is revealed by the fact that around half of sustainable fintech companies in operations in late 2023 were established in the prior three years, while companies with purely environmental or social objectives had more recent founding dates.
As of late 2023, Switzerland and Liechtenstein were home to a total of 49 sustainable fintech companies, with most of these ventures (22) being located in Zurich, followed by Geneva and Zug with 8 each. The majority of these companies were engaged in investment management and banking infrastructure sectors, leveraging technologies primarily in the analytics, big data and AI categories.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/2024-ifz-fintech-report-swiss-fintech-hubs-fall-behind</link><guid>3581</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/IFZ-Fintech-Study-2024-Highlights-Switzerlands-Declining-Competitiveness-Against-Other-Global-Fintech-Hubs-1440x564_c.jpg</dc:content ><dc:text>2024 IFZ Fintech Report: Swiss Fintech Hubs Fall Behind</dc:text></item><item><title>The Top 50 Climate Fintech Startups</title><description><![CDATA[
									
					
							
					In 2023, global climate fintech investments totaled US$2.3 billion, declining by a slight 19% compared to the previous year, data from CommerzVentures, a venture capital (VC) firm backed by German banking group Commerzbank, reveal.
The rate is much lower than the 38% slump recorded for the overall venture capital (VC) market, indicating that climate fintech investment volume held up well throughout 2023 despite the massive VC funding pullback.
Global climate fintech funding volume, Source: Climate Fintech Report 2024, CommerzVentures, Mar 2024
These data were shared in the newly released Climate Fintech Report 2024, a report which explores the growth of the global climate fintech sector and which analyzes funding dynamics across geographies, sub-sectors and company stages.






According to the report, European companies continued to dominate the global climate fintech scene in 2023, raising 1.5x more VC funding than the US at US$1.4 billion versus US$881 million. European climate fintech companies also secured 3.3x more financing rounds (109) than the US (33).
Climate fintech funding volume EU versus US in US$ million, Source: Climate Fintech Report 2024, CommerzVentures, Mar 2024
Within Europe, German startups attracted the most funding in 2023 (US$710 million), surpassing the UK (US$210 million). These countries are followed by France (US$134 million), Finland (US$77 million) and Denmark (US$56 million).
Climate fintech funding volume by country (top 10) in US$ million, Source: Climate Fintech Report 2024, CommerzVentures, Mar 2024
CommerzVentures data also show that climate fintech is no longer an emerging sector, with the share of Series B and later-stage investments reaching 31% in 2023, up 13 points from 18% in 2022. Similarly, the share of pre-seed and seed stage climate fintech startups that raised funding in 2023 declined to 42%, down 14 points from 56% in 2022.
Climate fintech funded companies by stage, Source: Climate Fintech Report 2024, CommerzVentures, Mar 2024
In 2023, carbon markets were the favored segment, with startup in the sector raising a total of US$720 million. Energy management came in second with US$530 million in funding, followed by carbon accounting with US$333 million, and environmental, social and governance (ESG) data reporting with US$197 million.
Climate fintech funding volume by country (top 10) in US$ million, Source: Climate Fintech Report 2024, CommerzVentures, Mar 2024
Besides fundraising trends, the Climate Fintech Report 2024 also features a selection of the world’s most promising and impactful green fintech startups.
The Climate Fintech 50 list showcases the climate fintech startups with the strongest business models and the highest potential for growth. These startups are delivering positive impact to their customers, and have secured notable rounds of VC funding from prestigious investors. They are categorized in nine sub-sectors, namely carbon markets, energy management, carbon accounting, climate risk management, ESG reporting, supply chain analytics, climate mitigation management, natural capital management and climate investing.
Carbon markets:

Abatable is a carbon offsetting procurement platform from the UK that connects companies with carbon project developers of high quality carbon offsets.
Arbonics is an Estonian nature tech specialist building a high-quality, scalable forest carbon removal platform in Europe.
Opna is a London-based startup that offers a climate financing platform that empowers corporates to discover, finance, and manage pre-assessed carbon removal and reduction projects to accelerate the journey to net zero.
Ecosystem Restoration Standard (ERS) is a French company that assesses and monitors the impact of restoration projects on climate, biodiversity, and local livelihoods.
Agreena is a Danish startup that helps farmers to plan, track and validate their transitions to regenerative agriculture practices that store soil carbon.
Klimate.co is a Danish startup that aims to address climate change through innovative carbon management solutions.
Isometric is a London-based startup developing a carbon removal registry  and science platform built to ensure the transition to carbon removal happens responsibly and fast.
Open Forest Protocol is a Switzerland-based company developing a scalable open platform that allows forest projects of any size, from around the world to measure, report and verify their forestation data.
Ocell is a Munich-based climate tech startup that offers data-driven, high-quality carbon credits to support local landowners.
Single.Earth is an Estonian startup using blockchain technology to create a marketplace that protects nature by making carbon removal and biodiversity tradable.
Pachama an American harnesses artificial intelligence (AI) and satellite data to empower companies to confidently invest in nature.
Cloverly is an American advanced digital platform that launched the first application programming interface (API) for carbon credits.
Mantle Labs is an UK-based company building a firm fintech platform that offers banks and insurance companies a complete risk assessment solution for managing their agriculture portfolios.
Choose is a Norwegian startup building digital tools so that everyone, anywhere, can easily integrate climate action into everyday life and business.
Veritree is a Canadian startup offering a platform providing registered users with access to integrated planting and reforestation verification and tracking tools to manage projects, share and publicize planting and reforestation initiatives and view planting and reforestation initiatives of other users.
Oka is an American carbon insurance company.

Energy management:

Cloover is a Stockholm-based climate fintech startup that enables vendors of renewable energy technologies to offer their services as a subscription.
Ostrom Climate is a Berlin-based startup providing carbon management solutions.
Enpal is a German startup offering the first integrated package for a climate-neutral home including photovoltaic (PV) systems, energy storage, electric vehicle (EV) chargers, green electricity tariffs and smart energy management.
Predium is a Munich-based startup offering a platform for sustainable real estate management.

Carbon accounting:

Tanso is a Munich-based climate tech startup that offers a climate intelligence suite to industrial companies.
CarbonChain is an UK-based startup building technology for companies to track, report and reduce their supply chain emissions, covering the most carbon-intensive industries, including metals and mining, agriculture and manufacturing.
Cleartrace is an American energy data and carbon accounting platform providing companies with the digital infrastructure to enable decision-making to mitigate environmental risk, prove their climate achievements and create new market opportunities within the evolving energy landscape.
Sinai is a San Francisco-based technology startup focused on transforming the way companies price, analyze, and reduce carbon emissions around the world.
Doconomy is a Stockholm-based company that helps banks, brands and consumers better understand their environmental impact.
Coolset is a Dutch startup that helps small and medium-sized enterprises (SMEs) to measure, analyze, reduce, and eliminate their carbon impact.

Climate risk management:

Climate X is an UK-based startup that’s helping companies identify, assess, and manage climate-related risks to their business and assets.
Mitiga Solutions is a Spanish startup providing climate risk intelligence that combines science, AI, and high-performance computing.
Terrafuse AI is an American startup developing an advanced climate and weather risk prediction solution.

ESG reporting:

Atlas Metrics is a German startup building tools that make it easy for companies to measure and share the impact of their activities.
Briink is a German startup building an AI toolbox for ESG standards teams.
Apiday is a French startup helping businesses collect all ESG data in one place, automate ESG reporting and certification processes, and collaborate with third parties, such as specialized ESG consultants, to improve ESG scores or make specific ESG improvements.
Coolset is a Dutch company helping growing companies measure and improve on sustainability swiftly.
WeeFin is a French company providing a software-as-a-service (SaaS) for financial institutions to implement and oversee ESG strategies, ensuring compliance with national and international regulations.
Novisto is a Canadian startup offering an end-to-end enterprise software for smarter sustainability management, empowering companies to create value from their ESG data and reporting.
Mavue is a Frankfurt-based startup developing sustainability compliance software designed to collect, analyze, and report sustainability data in a simple and secure way.
Novata is an American public benefit corporation created to help private equity firms and private companies navigate the ESG landscape by providing relevant reporting metrics, a contributory database to store information, and tools for analysis and reporting to key stakeholders, including limited partners and regulators.

Supply chain analytics:

Orbio Earth is an American startup that uses satellite imagery to track methane emissions from the oil and gas industry.
Hydrosat is an American startup providing daily, high resolution thermal data and analytics for food security, public safety, and the environment.
Chloris Geospatial is an American company that uses remote sensing, machine learning (ML) and ecological science to measure forest carbon stock, gains and losses.
Overstory is a Dutch startup applying ML to satellite imagery to create insights about the quantity and quality of forests and other natural resources.
IntegrityNext is a German startup providing an all-in-one platform for supply chain sustainability management.
Treefera is a London-based startup that uses AI algorithms to map trees globally, collecting data that can then be used to measure, report and verify carbon credits, which are bought by companies to fund carbon reduction projects to offset emissions.

Climate mitigation management:

ClimateView is a Swedish climate tech company providing SaaS insights to accelerate cities’ transition to net zero.

Natural capital management:

Nala is a German startup that helps companies measure, manage and report their impact on nature &amp; biodiversity.
NatureMetrics is an UK tech startup using genetic techniques to monitor biodiversity.
Pivotal is a UK startup developing ways to measure biodiversity and turn it into a tradable asset.

Climate investing:

Carbon Equity is a Dutch fintech platform that democratizes access to impact private equity.
Earthly is a London-based startup that connects businesses to high-quality nature-based solutions that remove carbon, restore biodiversity and support local communities.
EnverX is a German startup providing a marketplace connecting capital, carbon projects and monitoring providers.


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/the-top-50-climate-fintech-startups</link><guid>3579</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Global-climate-fintech-funding-volume-Source-Climate-Fintech-Report-2024-CommerzVentures-Mar-2024.png</dc:content ><dc:text>The Top 50 Climate Fintech Startups</dc:text></item><item><title>The Best Rated Mobile Banking Apps in Switzerland</title><description><![CDATA[
									
					
							
					Over the past two years, mobile banking has developed strongly in Switzerland, overtaking e-banking as the most popular transactional and delivery channel.
This industry is seeing the emergence of leaders, among which banking incumbents Zurcher Kantonalbank and Luzerner Kantonalbank, a new report by the Lucerne School of Business Institute of Financial Services Zug (IFZ) says.
The report, released on February 19, 2024, shares findings of an analysis of mobile banking apps in Switzerland. It looked at the customer reviews of the mobile apps of 38 of the largest retail banks in the country and digital banking players in both the Apple App Store and the Google Play Store to determine the providers who are excelling in digital experience.






The findings show that despite growing competition from market entrants, banking incumbents are performing well and living up to the challenge. In fact, the two highest ranked mobile banking apps in Switzerland are those of Zurcher Kantonalbank and Luzerner Kantonalbank. These apps achieved a weighted average score across the two app stores of 4.80 and 4.74 out of 5, respectively.
Behind them are the mobile apps of Wise and Revolut, as well as UBS Switzerland and Berner Kantonalbank, with a score of 4.7 out of 5 each, showcasing that Swiss banks are successfully facing the challenge posed by new market entrants and demonstrating both competence and resilience.
Rating of mobile banking apps (as of February 6-7, 2024; weighted by the number of ratings in the Apple App Store and Google Play Store; highlighted in gray: smartphone banks), Source: Lucerne School of Business Institute of Financial Services Zug IFZ, Feb 2024
The analysis also reveals that several banks have increased their performances significantly since 2022. Berner Kantonalbank recorded the strongest growth between September 2022 and February 2024, gaining 1.76 points in its rating. Berner Kantonalbank is followed by St. Galler Kantonalbank, UBS Switzerland and VZ Depotbank with increases of 0.9 points, 0.52 points and 0.51 points, respectively. These findings suggest that Swiss banks are continuously striving to enhance their mobile platforms in order to provide superior experiences to their customers.
Change in the average rating of mobile banking apps between 2022 and 2024
Findings of the IFZ analysis are similar to those of the 2022 Digital Index and Performance of Swiss Players report by Colombus Consulting. The study, which evaluated the digitalization of customer experience in Swiss retail banking, shows that traditional banking institutions are outperforming digital challengers in terms of digital presence, engagement, social media, and app usage in Switzerland.
In 2022, UBS retained the top position in digitization efforts, demonstrating strong performance across social networks, web, and digital marketing. PostFinance followed closely with a focus on marketing and satisfactory web and mobile performance but a lack in social networking. Raiffeisen ranked third with excellent web performance but lower scores in social media and marketing. Credit Suisse maintained a balanced profile, ranking fourth.
Top 5 Digital Index and Performance of Swiss Players 2022, Source: Colombus Consulting, 2022
Mobile banking on the rise in Switzerland
In Switzerland, banks are making significant efforts to provide their customers with improved mobile banking experiences. This is happening as more people are using mobile devices to carry out transactions and access banking services.
A 2023 study conducted by IFZ and digital banking think tank e.foresight reveals that digital banking has evolved greatly in Switzerland over the past years, with mobile banking emerging as the preferred channel for customers.
The joint research, released in May 2023, polled 29 institutions in Switzerland to examine how widespread e-banking and mobile banking are among Swiss bank customers and explore the development of digital banking in the country.
It reveals that up until 2020, e-banking was the favored channel for Swiss customers, recording the largest share of customer logins. In 2020, however, the number of logins for e-banking and mobile banking were almost equal, signaling the beginning of a shift. And by the end of 2022, mobile banking had surpassed e-banking, with 62% of logins being done by a smartphone.
Estimates by IFZ suggest that customer logins in e-banking increased by an average of 1.43% per year between 2018 and December 2022. In contrast, customer logins via smartphones surged by over 33% per year during the same period.
Development of e-banking and mobile banking logins from January 2018 to December 2022, Source:

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/the-best-rated-mobile-banking-apps-in-switzerland</link><guid>3578</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>The Best Rated Mobile Banking Apps in Switzerland</dc:text></item><item><title>Mike Stawchansky to Spearhead Finastra’s Gen AI Initiatives as New Tech Chief</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 8, 2024
																				





					
					
							
					Financial software provider Finastra has appointed Mike Stawchansky as its new Senior Vice President and Chief Technology Innovation Officer.
Mike, who will be working closely with the Office of the CEO, is set to spearhead the company’s initiatives in customer technology and innovation, particularly focusing on generative AI advancements.
Tasked with leading the customer technology senior leadership team, Mike reports directly to Finastra’s CEO Simon Paris. His role emphasises enhancing operational excellence and propelling the company’s technology initiatives.






Mike brings to Finastra a solid background in technology and innovation, having previously served as Senior Vice President of Platform and Production Engineering at Collibra, a data intelligence platform. His extensive career, spanning over 25 years, also includes key positions at Salesforce and WebMD.
Mike Stawchansky
Mike said,
“I am so excited to be part of Finastra and I’m truly inspired by the passion and excitement that I see here around delivering innovative and modern technology solutions to our customers.
In addition, it is an honor to head up such an advanced generative AI (Gen AI) team. Finastra is ahead of the curve when it comes to educating its workforce on how to use this technology and I can’t wait to build on that, bringing more customer-facing solutions to market which encapsulate Gen AI benefits.”
Simon Paris
Simon said,
“Mike brings a wealth of expertise in building modern tech stacks and cloud transformations.
His knowledge will be invaluable as we continue to bring our customers open technology solutions which drive business growth and efficiencies, and ultimately empower financial institutions with our relentless commitment to innovation.”


This article first appeared on fintechnews.sg
Featured image credit: Mike Stawchansky, Senior Vice President, Chief Technology Innovation Officer, Finastra


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	]]></description><link>https://fintechnews.eu/mike-stawchansky-to-spearhead-finastras-gen-ai-initiatives-as-new-tech-chief</link><guid>3575</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Finastra-Hires-Chief-Technology-Innovation-Officer-1440x564_c.jpg</dc:content ><dc:text>Mike Stawchansky to Spearhead Finastra’s Gen AI Initiatives as New Tech Chief</dc:text></item><item><title>10 Female Founders Shaping the Swiss Fintech Landscape</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 8, 2024
																				





					
					
							
					In honor of International Women’s Day on March 08, the Fintech News Network is presenting its spotlight on the trailblazing female founders in Switzerland’s fintech landscape. These remarkable women are not only shaping the future of the industry but also championing diversity, innovation, and inclusion within fintech. They are driving forward the industry, showcasing resilience and leadership in the vibrant world of fintech.
For this list, we’ve focused on female founders of fintech companies in Switzerland, highlighting 11 of the most influential leaders in the country and delving into their professional journeys, accomplishments, and contributions to the advancement of their respective companies.
Brigitte Baumann, Founder, GoBeyond Investing







Brigitte Baumann is the founder of Go Beyond Investing, a platform that facilitates angel investing for both novice and seasoned investors in Switzerland. Baumann boasts over 30 years of experience in introducing new technologies to markets across the US and Europe.
In addition to her role at Go Beyond, Baumann is a prominent figure as a keynote speaker, trainer, and consultant, focusing on designing educational content for angel investors, startup board members, and entrepreneurs seeking financing.
Before founding Go Beyond Investing, Baumann was CEO and director of iWORLD Group, a venture capital (VC)-backed mobile content developer, and served as the senior vice president at American Express Corporate Services where she launched internet businesses including the online travel agency Expedia.com. Baumann was also the president of Gemalto for the US and Canada, and worked with McKinsey &amp; Company as a senior engagement manager in New York, Paris and Tokyo.
In May 2015, Baumann received the European Investor of the Year award from EBAN. In 2017, she was selected In EY’s European Winning Women Entrepreneur program. In 2016 and consecutively in 2017, Baumann was listed as one of Europe’s Top 50 Most Influential Women in the startup and VC space and Top Women in FinTech.
Cecilia Mueller-Chen, Founder, Comply Now

Cecilia Mueller-Chen is the founder of Comply Now, a regulatory compliance advisory company serving the crypto and fintech sector. Mueller-Chen is regarded as a visionary thought leader in the realm of regulations and compliance and was recognized in 2020 by Finews as one of Crypto Valley’s Top Female Talents.
With a background as the former chief compliance officer and other key roles in institutions such as China Construction Bank Zurich and Deutsche Boerse, Mueller-Chen has amassed a wealth of experience in managing systemic risks during various crises and navigating complex regulatory environments globally. Her expertise extends to regulatory strategy, compliance, legal, and operations.
Mueller-Chen’s accomplishments include devising regulatory strategies for the original bitcoin and bitcoin cash protocols, obtaining licenses in multiple jurisdictions, and advocating for third-country equivalence in European Union (EU) laws during her tenure at SIX Exchange and Deutsche Boerse.
Beyond her corporate roles, Mueller-Chen has been instrumental in shaping industry standards, such as authoring the Crypto Valley Association’s Code of Conduct. She has also collaborated with organizations like the World Bank and Consensys to address United Nations’ sustainability goals.
With a diverse educational background including an E-MBA from the University of St. Gall, an MBA from the University of Toronto, and dual degrees from the University of California at Berkeley, Mueller-Chen combines her expertise in finance, technology, and compliance to drive innovation and positive change.
Dr. Lidia Kurt, Founding Partner, Vision&amp;

Dr. Lidia Kurt is the founder of Vision&amp;, a Swiss digital asset business studio. Kurt has extensive experience in the intersection of traditional finance with new technologies. With Vision&amp;, she builds products and creates ventures in the digital asset industry for her clients.
Besides her role at Vision&amp;, Kurt is also a co-founder of the recently launched Swiss Stablecoin, an initiative aimed at establishing a regulated and widely accessible digital Swiss franc.
Previously, she was the managing partner of a consulting boutique for quantitative finance and has worked for JP Morgan and Swiss Re in Zurich, London and Hong Kong. Lidia graduated from the University of St. Gallen with a PhD in asset management. Although loving to tackle the challenges of the financial world, Lidia’s actual happy place are technologies – during coding she regularly loses track of time.

Zulma Prieto, Co-Founder, CPO and CMO, Emilian

Zulma Prieto is the co-founder, chief product officer and chief marketing officer at Emilian, an “insurtech-as-a-service” provider based in Zurich.
Drawing upon over 20 years of industry experience, Prieto has a comprehensive understanding of the insurance value chain, acquired through roles with esteemed companies such as Marsh, Winterthur, Zurich, and SwissRe. Her expertise spans diverse domains, including reinsurance for corporate solutions, international programs, and coverage for the public sector and personal lines.
A Colombian and Swiss citizen, resident in Switzerland for many years, Prieto graduated with an MBA in Economics with a focus on insurance and will graduate soon as an user experience (UX) Designer. She is passionate about technology, digital platforms and UX design and strives to democratize insurance distribution.
Dr Luba Schoenig, Co-Founder, UMushroom

Dr. Luba Schoenig is the co-founder of UMushroom, a Swiss digital platform helping users to make investment decision in an intuitive way. Schoenig brings a wealth of experience from a distinguished career in the financial industry. With a background spanning over two decades, she has held various prominent roles in leading institutions such as Julius Baer, Credit Suisse, and Lehman Brothers.
Schoenig’s journey in finance began as a research and teaching assistant at the University of Zurich, where she also earned a doctor of quantitative finance degree. Prior to that, she completed a master’s degree in Finance from the University of Fribourg, Switzerland.
In 2020, Schoenig co-founded UMushroom. Leveraging her extensive expertise in investment solutions, structured credit, and structured products, Schoenig embarked on a mission to democratize access to financial information and empower users with professional research and insights.
Together with co-founder Tonia Zimmermann, whom Schoenig met during her tenure at Credit Suisse, she is expanding UMushroom beyond the borders of Switzerland to conquer European markets.
Sandra Tobler, Co-Founder, Chief Customer Officer, Chairwoman, Futurae Technologies

Sandra Tobler is the co-founder, chief customer officer and chairwoman of Futurae Technologies, a Swiss cybersecurity company enabling users seamlessly authenticate to online, mobile, and smart home device applications.
At Futurae Technologies, Tobler is responsible for igniting the company’s sales strategy, fueling exponential customer growth and unleashing untapped potential. She orchestrates a seamless fusion of sales, marketing, and customer success, all driven by an unshakable dedication to elevating the customer experience.
Tobler is a well-respected figure in the fintech industry, renowned for her visionary leadership and impactful work. Her journey in the industry began in London and continued with her work for the official economic representation of Switzerland with tech companies in the US.
With IBM background and fintech passion, Sandra holds a degree in International Relations from the University of Geneva and is committed to shaping the future of the fintech industry for the better.
Stephanie Feigt, Founder and CEO, 3rd-eyes

Stephanie Feigt is the founder and CEO of 3rd-eyes, a Swiss wealthtech and insurtech provider founded in 2015. Feigt has over 20 years of experience in investment expertise and management roles intersecting strategic asset allocation, asset liability management, sustainable investing, and asset management across diverse asset classes.
Prior to 3rd-eyes, Feigt co-founded Contrast Capital in 2011, a consultancy firm specializing in sustainable investing, where she provided advisory services to institutional clients.
Her journey in sustainable investing began as the chief investment officer, co-CEO, and head of portfolio management at RobecoSAM Zurich. Before that, she held pivotal roles such as head of investment strategy at Bank Leu in Zurich and spearheaded the strategic asset allocation for Siemens’ pension funds. Feigt’s tenure in institutional asset management at Siemens equipped her with invaluable experience as a senior equity portfolio manager and quantitative analyst.
Feigt holds a master’s degree in economics from the University of Constance and the Humboldt University of Berlin, with a focus on capital markets theory, econometrics, and statistics. Additionally, she is a chartered financial analyst (CFA).
Yoko Spirig, Co-Founder and CEO, Ledgy

Yoko Spirig is the co-founder and CEO of Ledgy, a Swiss equity management platform for scaleups. The platform enables team members to better comprehend their equity stakes, streamlining the process of running equity plans. Under Yoko’s leadership, Ledgy has emerged into a prominent player in the equity management sphere, boasting a team of over 60 professionals across offices in Zurich, London, and Berlin.
Prior to Ledgy, Spirig was project lead on Swissloop, Switzerland’s first Hyperloop research initiative.
Spirig studied Physics at the University of Oxford, CERN, and ETH Zurich, where she met her Ledgy co-founders Ben Brandt and Timo Horstschaefer. Together they identified the administrative burden that equity management creates for startups – a problem that needed solving.
Spirig has received several honors and accolades. In 2020, she was named one of the Digital Shapers by Bilanz and in 2019, she was recognized as one of Forbes’ 30 under 30 for the DACH edition.
Olga Miler, Co-Founder and CEO, SmartPurse

Olga Miler is the co-founder and CEO of SmartPurse, a Swiss financial wellness platform designed to empower individuals to achieve financial abundance and impact.
Miler is a global innovation expert, specializing in women and finance, sustainability, and gender-smart investing. She has been broadly recognized for her transformational achievements to change the financial services industry for women and gender equality with features in the global press such as Sky News, BBC News, CNBC, the Financial Times, Bloomberg and The Guardian and has won numerous awards including Inspirational Woman of the Year 2019 by CityWealth Magazine and a place on the Senior Leaders in Fintech Powerlist by Innovate Finance.
Miler founded SmartPurse after a 12-year career at UBS where she developed an award-winning program for women and led marketing and client experience functions. Besides her role at SmartPurse, Miler is also an ambassador and consultant for Alpian, a Swiss digital private bank, a columnist for Watson News’ MoneyTalks, and a member of the board of trustees of the Cherie Blair Foundation for Women.
Isabella Brom, Co-Founder, Kore Technologies

Isabella Brom is the co-founder of Kore Technologies, a Swiss tech company specializing in creating and managing blockchain certificates for people and products. Brom is a fintech professional with a focus on enterprise architecture and blockchain technology and an international background.
Apart from her role at Kore Technologies, Brom is also a managing consultant at Vision&amp; where she builds the bridge between technology and business, combining vast experience in the tech space and financial advisory services with blockchain, distributed ledger technology (DLT), digital assets and decentralized finance (DLT). She’s also a lead lecturer at the HWZ University of Applied Sciences in Business Administration Zurich where she teaches the blockchain economy, as well as a guest lecturer at the ZHAW Zurich University of Applied Sciences.
In her previous role at Ernst &amp; Young (EY), Brom worked with Fortune 500 companies on digital transformation projects and was fundamental to the rise and growth of EY Switzerland’s blockchain and crypto technologies advisory practice. Leading this practice, she delivered first DLT pilot projects in the insurance, crypto storage and treasury space.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/10-female-founders-shaping-the-swiss-fintech-landscape</link><guid>3576</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Female-Founders-Shaping-the-Swiss-Fintech-Landscape--1440x564_c.jpg</dc:content ><dc:text>10 Female Founders Shaping the Swiss Fintech Landscape</dc:text></item><item><title>eBill hat erstmals über drei Millionen User</title><description><![CDATA[
									
					
							
					eBill gewinnt an Beliebtheit und wird immer häufiger genutzt, diese Woche hat gibt eBill in der Schweiz den 3 Millionen Meilenstein bekannt.
Die grösste Nutzendengruppe ist zwischen 30 und 39 Jahre alt, das grösste Wachstum zeigt sich mit 15% bei den über 65-Jährigen. Seniorinnen und Senioren nehmen somit auch zunehmend am digitalen Zahlungsverkehr teil. Insgesamt nutzen über 40% der 15- bis 89-jährigen Einwohnerinnen und Einwohner der Schweiz eBill. Sie erreicht also mittlerweile mehr als die Hälfte der Schweizer Haushalte.
Mit eBill werden Rechnungen dort empfangen, wo man sie auch bezahlt: im E-Banking. Um Rechnungen nicht mehr per Post oder E-Mail zu erhalten, können sich Konsumentinnen und Konsumenten im E-Banking ihrer jeweiligen Bank anmelden, eBill aktivieren und dann mit wenigen Klicks die Rechnungen prüfen und bezahlen. Dies bietet sowohl Konsumentinnen und Konsumenten als auch Unternehmen Vorteile.






95% aller Schweizer Finanzinstitute bieten Bill an und fördern diese aktiv. Viele Rechnungssteller setzen auch bereits auf die digitale Rechnung, wie zum Beispiel führende Telekommunikationsanbieter, Krankenversicherungen, Energieanbieter, öffentliche Verwaltungen und Kreditkartenanbieter. Auch immer mehr kleine und mittlere Unternehmen nutzen eBill.


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		]]></description><link>https://fintechnews.eu/ebill-hat-erstmals-uber-drei-millionen-user</link><guid>3577</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>eBill hat erstmals über drei Millionen User</dc:text></item><item><title>Tenity Invests in 3 Swiss Early-Stage Fintech Startups</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 6, 2024
																				





					
					
							
					The upcoming edition of the Tenity Incubation Program in Switzerland welcomes a cohort of 9 early-stage startups selected from a pool of more than 400 applications globally.
For the next four months, the Fintech startups will go through an intensive program, including workshops and events on topics such as product-market fit, marketing, and fundraising. The program will culminate in a Demo Day event on June 13, 2024.
Brigitta Gyoerfi
Brigitta Gyoerfi, Head of Operations Tenity Switzerland commented:






“Congratulations to the startups selected for the Spring 2024 Incubation Program in Zurich. This year’s program proudly unveils a diverse array of nine groundbreaking startups, spanning the realms of Investing, WealthManagement, RegTech, Climate Fintech, and Financing for SME. We stand ready to support their growth and create opportunities to connect them with Tenity´s extended ecosystem shaping the future of finance and sustainability together.”

Meet the 9 startups selected Fintech Startups for the Tenity Incubation Batch 12 in Switzerland

Arca | Spain

Arca provides a comprehensive solution for implementing Employment Pension Plans, making the process of saving both accessible and easily understandable for everyone.

CyberTide | Germany

CyberTideare revolutionizing data security with AI, ensuring businesses in regulated sectors (financial and insurance) maintain compliance and protect their sensitive information seamlessly.

Darksquare | United Kingdom

Darksquare is an investment platform for individuals which focuses on alternative, private market investment opportunities. Darksquare’s platform allows its customers to better diversify their portfolios, whilst offering them the opportunity to generate strong risk-adjusted returns.

Kapnative | Germany

Kapnative is dedicated to empowering advisors to unlock the immense opportunities within the private market sector. By broadening access, they are providing investors with entry to an expansive range of private market assets, including PrivateEquity, Venture Capital Funds, Private Debt, and Hedge Funds.

Lendit | Italy

Lendit is a credit sharing platform where businesses and professionals can lend and apply for micro loans easily, quickly, and on a customized basis. Through innovative embedded lending technology, financial institutions and B2B partners, can integrate Lendit’s services, offering credit services to their customers directly from their platform, thereby increasing customer retention.

MITI | Estonia

MITI has created an autopilot for financial institutions’ regulatory compliance that helps to streamline regulatory compliance, mitigate risks and ensure up-to-date quality.

Newbridge | Switzerland

Newbridge enables financial institutions to unlock the potential of crypto asset management. Thier AI-driven SaaS platform equips asset managers with the tools and insights needed to master the end-to-end lifecycle of crypto assets.

Rezonanz | Switzerland

Rezonanz is developing software solutions aimed at measuring the impact of responsible investment practices and enhancing the effectiveness of investment stewardship.

Zurichberg | Switzerland

Zurichberg’s platform allows for fractional investments up to full ownership of luxury timepieces. With easy-to-understand, data-driven insights and real-time evaluation, they bring transparency to the watch investment market.




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			&#13;
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		]]></description><link>https://fintechnews.eu/tenity-invests-in-3-swiss-early-stage-fintech-startups</link><guid>3574</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Tenity-Invests-in-9-Early-Stage-Startups-Selected-for-Its-Spring-2024-Incubation-Program-in-Switzerland--1440x564_c.jpg</dc:content ><dc:text>Tenity Invests in 3 Swiss Early-Stage Fintech Startups</dc:text></item><item><title>Visa and Western Union Expand Partnership to Enhance Global Money Transfers</title><description><![CDATA[
									
					
							
					Visa and Western Union have entered into a seven-year agreement to significantly enhance the way money is sent across borders. This collaboration aims to simplify the process for Western Union customers to transfer funds directly to Visa cardholders and bank accounts in 40 countries across five continents.
The partnership involves the issuance of cards, integration with Visa Direct for faster money transfers, and the provision of risk management services.
Additionally, it will introduce Visa prepaid cards in certain markets, offering a seamless blend of physical and digital payment solutions. Using Visa Direct capability, Western Union customers will be able to quickly send funds to friends and family around the world.






Moreover, Visa and Western Union are working on creating disbursement programs targeted at assisting humanitarian organizations and governments in efficiently distributing funds during emergencies.
These initiatives are designed to facilitate emergency relief, cross-border pension, and domestic benefits payments. Western Union’s government and NGO customers will also be able to use prepaid cards to aid humanitarian relief.
This deal expands upon previous collaborations between the two financial services giants in 2019 and 2022, which made it possible for customers in the U.S. and Europe to send money to Visa cardholders internationally.
The companies also plan to issue Western Union/Visa Debit Cards across North America, Asia Pacific, Latin America, and Europe.
Chris Newkirk
“People rely on remittances to send lifeline payments to their loved ones overseas. When we consider the urgency and need for accessibility, secure payment options with added convenience can make all the difference.

Visa’s global scale and Western Union’s digital capabilities are revolutionizing how customers send funds around the world. We are proud to offer more people fast and efficient solutions for cross-border payments.”
said Chris Newkirk, Global Head of Commercial &amp; Money Movement Solutions, Visa.
Sam Jawad
“Aspiring populations around the world rely on Western Union to provide them with innovative and accessible financial services that offer flexibility, value and trust.

By strengthening our strategic collaboration with Visa, together we will deliver impactful products and services that can help empower our customers to build a life of opportunity for themselves and their loved ones.”
said Sam Jawad, Head of Ecosystem, at Western Union.

This article first appeared on fintechnews.sg


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	]]></description><link>https://fintechnews.eu/visa-and-western-union-expand-partnership-to-enhance-global-money-transfers</link><guid>3573</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>Visa and Western Union Expand Partnership to Enhance Global Money Transfers</dc:text></item><item><title>Neuer CEO bei Hypothekarbank Lenzburg</title><description><![CDATA[
									
					
							
					Der Verwaltungsrat der Hypothekarbank Lenzburg hat sich für den neuen CEO entschieden, Der 44 jährige Silvan Hilfiker wird das Amt übernehmen.
Silvan Hilfiker
Wie bereits zuvor angekündigt, wird Marianne Wildi, CEO der Hypothekarbank Lenzburg, an der Generalversammlung vom 16. März 2024 für die Wahl in den Verwaltungsrat vorgeschlagen. Zu ihrem Nachfolger hat der Verwaltungsrat Silvan Hilfiker gewählt. Er wird sich an der Generalversammlung vom 16. März den Aktionärinnen und Aktionären persönlich vorstellen und seine Tätigkeit am 1. Juni 2024 aufnehmen.
Silvan Hilfiker ist im Aargauer Freiamt aufgewachsen und verfügt über einen ausgezeichneten Leistungsausweis im Finanzbereich mit diversen bankfachlichen Aus- und Weiterbildungen inklusive MBA. Seine Stationen führten ihn von der Aargauischen Kantonalbank zur Neuen Aargauer Bank und schliesslich zur Credit Suisse Group. Auf seinem Werdegang hat er sowohl Linien- wie auch Stabsaufgaben wahrgenommen. In den vergangenen Jahren hat er hauptsächlich die Unternehmensentwicklung und zentrale Dienste rund um das CEO-Office bei der Credit Suisse mitgeprägt und dabei anspruchsvolle strategische Projekte verantwortet.






Gerhard Hanhart
«Der Verwaltungsrat freut sich, mit Silvan Hilfiker eine sehr ausgewiesene Führungspersönlichkeit, mit bedeutendem aargauischen Netzwerk, für die CEO-Position gefunden zu haben. Wir sind überzeugt, dass er die Bank positiv prägen und die eingeschlagene Strategie, gemeinsam mit der Geschäftsleitung, konsequent und initiativ weiterführen wird»,
sagt Gerhard Hanhart, Verwaltungsratspräsident der Hypothekarbank Lenzburg.
Im Zeitraum zwischen der Generalversammlung und dem Amtsantritt von Silvan Hilfiker am 1. Juni 2024 wird Stefan Meyer, stellvertretender CEO, die Geschäftsleitung ad interim führen.


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			&#13;
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		]]></description><link>https://fintechnews.eu/neuer-ceo-bei-hypothekarbank-lenzburg</link><guid>3570</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>Neuer CEO bei Hypothekarbank Lenzburg</dc:text></item><item><title>Luzerner KB steigt in den den Handel und die Verwahrung von Kryptowährungen ein</title><description><![CDATA[
									
					
							
					Die Luzerner Kantonalbank AG (LUKB) ermöglicht ihren Kundinnen und Kunden seit Anfang März 2024 den Handel und die Verwahrung von Kryptowährungen.
Das neue Angebot ist technisch nahtlos in das Kernbankensystem und das E-Banking (Mobile und Desktop) der LUKB integriert. Aktuell stehen drei Kryptowährungen zur Wahl: Bitcoin, Ethereum und USD Coin.
Die LUKB hat sich seit dem Jahr 2020 mit dem Thema Digital Assets bzw. Kryptowährungen befasst und nach intensiven Abklärungen des Marktes und der Kundenbedürfnisse einerseits interne Kompetenz und anderseits eine eigene Infrastruktur aufgebaut, die nahtlos in ihr Kernbankensystem eingebunden sowie im E-Banking und Mobile Banking der Bank integriert ist.






Das Produkt und die Infrastruktur wurden im Vorfeld über mehrere Monate und in verschiedenen Produktphasen erprobt. Das Angebot der LUKB richtet sich an Personen mit Domizil in der Schweiz, die einfach, sicher und bequem in Kryptowährungen investieren möchten. Voraussetzung ist ein Wertschriften-Depot bei der LUKB.
Durch die vollständige Integration der Kryptowährungsfunktionen in das E-Banking der LUKB erhalten Kundinnen und Kunden mit sehr wenigen Klicks einen vollständigen Überblick über ihre Krypto-Vermögenswerte. Als erste traditionelle Bank hat die LUKB dabei eine eigene Verwahrlösung für Digital Assets aufgebaut, deren Schlüsselverwahrung ISAE 3000 zertifiziert ist.
Aktuell lassen sich über die Lösung der LUKB drei Kryptowährungen rund um die Uhr handeln: Bitcoin, Ethereum und USD Coin.
Die LUKB plant, in den nächsten Wochen weitere Kryptowährungen aufzuschalten und einen Krypto-Anlageplan für regelmässiges Investieren an den Kryptomärkten zu lancieren. Ebenfalls in Planung ist die Möglichkeit, Kryptowährungen von anderen Wallets in die Lösung der LUKB ein- und auszuliefern.


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	]]></description><link>https://fintechnews.eu/luzerner-kb-steigt-in-den-den-handel-und-die-verwahrung-von-kryptowahrungen-ein</link><guid>3571</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>Luzerner KB steigt in den den Handel und die Verwahrung von Kryptowährungen ein</dc:text></item><item><title>Zurich Recognized as Switzerland’s Leading Fintech Hub</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						March 5, 2024
																				





					
					
							
					Switzerland is home to several tech startup hubs that each has their speciality. Among these tech hubs, Zurich is recognized as the country’s fintech hub owing to the canton’s proximity to financial institutions, a new report published by UBS/Credit Suisse says.
The report, titled “Founders and investors: One aim, two perspectives”, draws on a survey of Swiss startups conducted by Switzerland-based non-profit association the Swiss ICT Investor Club (SICTIC) to shed light on various aspects of the Swiss startup landscape.
According to the study, Zurich is both the country’s biggest startup center and leading fintech hub. In 2022, Zurich secured the highest amount of venture capital (VC) investment, with CHF 2.1 million raised by tech startups located in the canton. The amount represents more than half of Switzerland’s total investment volume that year. Of that sum, CHF 500 million went to fintech startups, the largest amount among all cantons, showcasing Zurich’s leadership in the fintech sector.






Zug is another prominent fintech hub highlighted in the report. In 2022, tech startups located in Zug raised about CHF 250 million in VC funding, making it the second biggest recipient of fintech investment that year. The canton is widely known as the “Crypto Valley”, owing to the high number of startups specializing in blockchain technology and cryptocurrencies located in the canton, including prominent names in the space such as the Ethereum Foundation, Amina Bank, formerly known as SEBA Bank, and Bitcoin Suisse.
Invested capital by canton and year, in CHF million, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024
Findings from the Credit Suisse and SICTIC study corroborate with other industry research. The last year’s iteration of the IFZ Fintech Study, released in March 2023, reveals that Zurich was the largest canton in Switzerland in terms of the number of resident fintech companies, with a total of 164, followed by Zug with 123 companies.
The IFZ report also highlights that Zurich is not only the leading fintech hub in Switzerland, but also a prominent global fintech hub, ranking second worldwide after Singapore for seven years in a row. Among Zurich’s biggest strengths, the study highlights the canton’s favorable political and legal landscape, advantageous social attributes, and advanced technological infrastructure.
Fintech hub ranking by year, Source: IFZ Fintech Study 2023, IFZ, Mar 2023
A focus on international expansion
Besides its highlight of the dominance of Zurich, the Credit Suisse and SICTIC report also shares findings of a study conducted among Swiss startups and investors to understand the market’s biggest opportunities and issues.
Results of the study reveal that while Switzerland is globally recognized for its exceptional universities and highly educated workforce, local startups are facing challenges in gaining international recognition due to limited visibility and funding within the country. This finding highlights that with a population of just nine million, the local market is just too smart for startups to thrive, forcing young Swiss tech ventures to focus on international expansion early on in their journey.
Of the 100 startup founders surveyed in July 2023, 88% said they were already operating internationally. Even at the pre-seed and seed stages, approximately 78% of Swiss startups indicated being engaged with foreign stakeholders across various levels.
The survey results also shed light on the diverse nature of these international links. Around 72% of the surveyed startups indicated selling products or services abroad, while 60% said they were involved with foreign investors and/or foreign suppliers.
Internationalization ambitions of Swiss startups, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024
Results also reveal intentions to expand further in the future, with a vast majority of respondents (95%) stating that they were looking to extend their global footprint. Among them, approximately 58% already had specific plans in place, while 37% had yet to develop specific strategies.
An analysis of the current internationalization status showed that almost all startups operating internationally had either concrete or reasonably well-defined plans to further expand abroad in the future. Among the startups not yet operating internationally, about 75% said they aspired to expand internationally.
When asked about the countries they aimed to target in the future, Swiss startup founders named the US, Germany, the UK and France as their preferred destinations. These results suggest that expansion efforts typically occur in a gradual manner, starting with neighboring countries and then progressively reaching other destinations further away. Moreover, the market entry into the US and the UK stand out as significant touchpoints, as both countries are recognized as essential startup hubs for scaleups, the report says.
Future internationalization plans, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024
Business opportunities, access to investors, talent acquisition among top motives for internationalization
Motivations for internationalization are numerous and varied. A striking nine out of ten Swiss startups cited the desire to open up new sales markets abroad as one of their motivations to expand overseas, a result that comes as little surprise considering the small size of the Swiss market. Better access to foreign investors and the expansion of existing networks were other prominent motivations driving internationalization efforts, cited by about 40% of the surveyed startups. Finally, regulatory inefficiencies ranked third, cited by 20% of the respondents as a reason to expand abroad.
Main motives for Swiss startups to operate internationally, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024
Access to well-educated workers was named as another motive behind global expansion. This is most relevant to startups in the growth and expansion phases facing labor shortages domestically.
A survey of 65,000 companies in the secondary and tertiary sectors conducted by the Swiss Federal Statistical Office found that recruitment difficulties for Swiss companies are fluctuating over time. Before the COVID-19 pandemic, around 32% of Swiss companies struggled to find skilled workers, but this dropped to 28% in Q1 2020 due to increased unemployment. However, by Q2 2022, the indicator reached its highest level, with approximately 41% of companies reporting difficulties finding qualified workers or not finding anyone at all, a trend that was particularly pronounced in manufacturing and information and communications technology (ICT).
Recruitment difficulties among Swiss tech startups, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024
A deep dive into the Swiss startup ecosystem reveals a widespread shortage of skilled workers among young tech ventures. 46% of the Swiss startup founders polled by Credit Suisse said that it was hard to fill vacancies with suitable candidates.
An analysis of different startup stages reveal that labor market challenges are more pronounced for those in more advanced stages. 55% of startups in the growth and expansion phase reported difficulties to recruit qualified employees. In comparison, that rate stood at 39% for startups in the pre-seed and seed stages.
Recruitment difficulties according to development stages, Source: Founders and investors: One aim, two perspectives, SICTIC/Credit Suisse UBS Group, Feb 2024

Featured image credit: Edited from Unsplash


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	]]></description><link>https://fintechnews.eu/zurich-recognized-as-switzerlands-leading-fintech-hub</link><guid>3572</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Zurich-Recognized-as-Switzerlands-Leading-Fintech-Hub-1440x564_c.jpg</dc:content ><dc:text>Zurich Recognized as Switzerland’s Leading Fintech Hub</dc:text></item><item><title>US Spot Bitcoin ETFs Daily Trading Volume Soars to 6 Billion USD</title><description><![CDATA[
									
					
							
					Ten newly launched US spot bitcoin exchange-traded funds (ETFs) broke their daily volume records on February 28, 2024, totaling nearly US$7.7 billion worth of assets being traded on that day alone, data shared on X by James Seyffart, an ETF analyst at Bloomberg Intelligence, reveal.
The figure represents a staggering 63.8% increase from their previous peak of US$4.7 billion from their first day of trading on January 11, 2024, and demonstrates booming interest from investors in the new asset class.
BlackRock’s iShares Bitcoin ETF (IBIT) is emerging as the clear winner, leading the group with US$3.4 billion traded on February 28 through with nearly 97 million shares traded. IBIT is followed by Grayscale Bitcoin Trust BTC (GBTC) with US$1.9 billion and 34 million shares traded, and Fidelity Wise Origin Bitcoin Fund (FBTC) with US$1.4 billion and almost 27 million shares.







The new record for #Bitcoin ETF trading volume is officially $7.69 billion. Previous record was $4.66 billion from launch day. https://t.co/rZsOSUqk35 pic.twitter.com/QaOKe2LuVU
— James Seyffart (@JSeyff) February 28, 2024

The US Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs on January 10, 2024 from asset managers including BlackRock, Invesco and Fidelity. These regulated investment funds, which are traded on traditional securities exchanges, allow investors to gain exposure to bitcoin without directly owning the cryptocurrency, increasing access to the cryptocurrency for everyday investors.
Bitcoin ETFs operate by allowing investors to buy shares that represent ownership in actual bitcoins held by the fund. These issuers manage purchasing, storing, and safekeeping of bitcoin on behalf of ETF investors in exchange for an annual fund management fee.
The approvals of US-listed bitcoin ETFs were a win for the crypto industry, which faced turmoil over the prior two years with several high-profile collapses including crypto exchange FTX.
Since their debut last month, ten of the newly listed spot bitcoin ETFs have witnessed tremendous traction, drawing in nearly US$7.4 billion in net inflows, data from BitMEX Research show. This week, allocations to the ETFs accelerated, surpassing US$1.7 billion in three days, with BlackRock’s IBIT alone pulling in US$1.2 billion of fresh funds.

[1/5] Bitcoin ETF Flow – 28th Feb 2024
All data in. Today was a record inflow day, with $673.4m of net inflow. This was driven by Blackrock, which also had a record day, with $612.1m of inflow pic.twitter.com/vklRVtrDoI
— BitMEX Research (@BitMEXResearch) February 29, 2024

Attacking Gold ETFs
These heavy inflows have sparked comparisons between bitcoin and gold with analysts speculating about how long it will take for the total assets under management (TAM) of bitcoin ETFs to surpass TAM for gold ETFs. Bloomberg senior ETF analyst Eric Balchunas predicts that this could take less than two years to achieve given the current market frenzy.

Gold's Pain is Bitcoin ETFs' Gain in Store of Value Smackdown.. new from me on how gold being in the gutter is like the cherry on top for bitcoin fans who just got to witness the biggest ETF launch ever. Decent chance bitcoin ETFs pass gold ETFs in aum in less than 2yrs w… pic.twitter.com/rXJra1dyhF
— Eric Balchunas (@EricBalchunas) February 26, 2024

Echoing Balchunas, Hunter Horsley, CEO of American crypto index fund manager Bitwise Investments, stated on X: “Bitcoin is going to eat into gold’s TAM faster than people expect. US$250k Bitcoin could happen much sooner than most who’ve followed the space for years would imagine.”
Bitcoin Passed 60’000USD
The market upsurge is also likely a sign that retail traders are using the bitcoin ETFs to participate in the ongoing bitcoin rally. On February 28, 2024, bitcoin surged past US$62,000, a level last seen in November 2021 and which represents an increase of 40% since the beginning of the year.
Price of bitcoin year-to-date, Source: CoinDesk Indices, Feb 29, 2024
This rise was largely driven by the launch of the US spot bitcoin ETFs and their subsequent success, fueling demand for the cryptocurrency and pushing its price further up.
Data from Vetle Lunde, a senior analyst at Norwegian digital assets brokerage K33, reveal that US spot ETFs now hold more than 760,000 BTC under management. Since their launch, these funds have seen a net inflow of over 149,000 BTC, with the past three days alone pulling in some 30,000 BTC.

U.S. spot ETFs now hold 768,280 BTC. They have seen a net inflow of a whooping 149,080 BTC since its launch. 
The net flows in the past three days sit at a massive 30,754 BTC! pic.twitter.com/ndhTt3oa94
— Vetle Lunde (@VetleLunde) February 29, 2024

Another possible factor driving the rally is the upcoming bitcoin halving. The pre-programmed event, which occurs approximately every four years, is designed to control the issuance rate of new bitcoins into circulation by cutting the reward for mining bitcoins by half.
Upcoming Bitcoin Halfing
After the halving, which is expected to take place in April, the number of new coins mined daily will decline to 450 from 900 currently, effectively decreasing the rate of supply growth. If demand for bitcoin remains constant or increases, the reduction in new supply entering the market could create a supply-demand imbalance and potentially lead to upward price pressure, advocates claim.
Bitcoin’s halvings history, Source: eToro
Despite investor enthusiasm in the availability of bitcoin ETFs, advisors and top management at the European Central Bank (ECB) argue that bitcoin remains unsuitable both as a means of payment and as an investment.
ECB Sees Fair Value of Bitcoin at Zero
In a new blog post published on February 22, 2024, Ulrich Bindseil, general director of the Market Infrastructure and Payments at the ECB, and Jürgen Schaaf, an advisor to the senior management of the Market Infrastructure and Payments at the ECB, state:
“On 10 January, the US SEC approved spot ETFs for bitcoin. For disciples, the formal approval confirms that bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. We disagree with both claims and reiterate that the fair value of Bitcoin is still zero. For society, a renewed boom-bust cycle of Bitcoin is a dire perspective. And the collateral damage will be massive, including the environmental damage and the ultimate redistribution of wealth at the expense of the less sophisticated.”
The authors attribute the ongoing price rally to factors including rising interest rates, the forthcoming bitcoin halving and the approval of spot bitcoin ETFs, but warn that such upswings are not sustainable in the absence of economic fundamentals.
They criticize US regulatory authorities for their perceived failure to address the risks associated with bitcoin, and call for tighter regulation and enforcement measures to protect society from the negative consequences of bitcoin’s volatility, speculative behavior, and its associated risks.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/us-spot-bitcoin-etfs-daily-trading-volume-soars-to-6-billion-usd</link><guid>3569</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/03/Exploring-SIC-Instant-Payments-in-Switzerland.jpg</dc:content ><dc:text>US Spot Bitcoin ETFs Daily Trading Volume Soars to 6 Billion USD</dc:text></item><item><title>Exploring SIC Instant Payments in Switzerland: Challenges, Solutions, and Future Prospects</title><description><![CDATA[
									
					
							
					Instant payments are the most positive development for the Swiss financial sector in years due to their proven role as a catalyst for change within that system.
Whilst instant payments are mainly used for domestic purposes (96%) rather than cross-border, they hold the promise of providing Switzerland with a competitive and innovative marketplace where citizens and SMEs can leverage the speed for improved liquidity and enriched data for transparency.
Implementing SIC IP is not only about coping with a processing time of 10 seconds; it also has ramifications across the whole ecosystem, with many areas such as end-user experience, non-stop availability, sanctions screening, balance check, reporting, storage, and flow orchestration being impacted. Therefore, this whole integration needs to be carefully planned and implemented.
As of the 17th of November 2023, the four pilot banks have been successfully processing and handling productive instant payments with an average latency of 3.5 seconds and with zero rejections.
A further 62 SIC participants will join by August 2024 as part of Phase 1, the official launch date. Phase 2 of the SIC5 project is currently underway with two key elements: connecting a further 260 SIC participants to the SIC IP service and migrating the SIC and euro SIC RTGS services from the SIC4 platform to the SIC5 platform.
As Phase 2 FIs kick-start their project roadmaps to meet the SIC IP Group 2 deadline in 2026, it is vital that they unpack the most efficient strategy for SIC IP implementation.
This article summarises the key challenges, solutions, and potential benefits of SIC Instant Payments that emerged from business payments company Bottomline’s recent webinar SIC Instant Payments: A Catalyst for Competitive Advantage.
Here are a few actionable insights and an overview of the current state and future trajectory of instant payments in Switzerland.
Key Considerations for Implementing SIC Instant Payments
Bruno Kudermann, the Senior Project Manager at SIX for the Swiss payment systems SIC and euroSic and who is leading the business stream with the project for SIC5, had the following key advice.

Register early for the testing window to avoid delays as it is first come, first served.
Look at the full end-to-end process from booking systems to the treasury when preparing for SIC Instant Payments.
Talk to system providers right away about SIC Instant Payment readiness.
Focus first on getting domestic instant payments, then consider cross-border as a secondary priority.
Consider using external providers/platforms to help update your organisation’s core systems.
Address operational aspects like 24/7 operations, reporting, and customer service for instant payments.
Develop customer offerings leveraging instant payments.

Dennis Flad
This was a view supported by Dennis Flad, partner at t’Charta AG, a leading Swiss-based consulting boutique. He said,
“From registering early for testing windows with SIX to optimising sanction screening filters, the action items outlined by Bruno above offer a strategic roadmap for navigating the intricacies of instant payment implementation.
Moreover, the emphasis on prioritising domestic instant payments before venturing into cross-border transactions underscores a pragmatic approach toward ensuring operational efficiency and regulatory compliance.”
Bruno Kudermann
Bruno also had a message for those private banks and asset managers that aren’t already included in the mandate and considering opting out:
“Opting out of SIC IP means you can’t make any customer payments within the entire SIC system, including RTGS.
Therefore, it is a very dangerous choice to make, and so please consider this very, very carefully.”

Overcoming Infrastructure and Resource Hurdles
One of the central themes that emerged from the discussion was the prevalence of challenges hindering the seamless adoption of instant payments – 48% of the webinar attendees said that lack of IT resources and prioritisation within an already busy road map was the most significant barrier to adoption for SIC IP.
This was followed by legacy infrastructure at 30% and the cost and hassle of implementing a new rail at 22%.
Frédéric Viard, Head of Commercial Product Propositions for Financial Messaging at Bottomline, echoed these sentiments, emphasising the necessity of 24/7 availability and scalability in overcoming infrastructure limitations.
He also suggests a key solution to these pain points: leveraging trusted and experienced third-party providers for support, rather than attempting to manage everything internally.
Frédéric Viard
Frédéric also addressed the issue of security within transactions such as fraud protection, sanctions screening, and IBAN pre-validation.
“You don’t have the time in a 3.5-second end-to-end transaction for exception handling, so you can’t rely on in-flow screening to reduce your false-positive rate. The solution is to optimise your filters in advance by doing offline batch screening and cleaning your customer database to address known screening issues.
I also recommend following the lead of the European Commission, which has made IBAN checks and daily KYC part of the criteria for the SEPA Inst Mandate that was ratified on the 7th of February 2024.”
Despite the challenges, the conversation illuminated the myriad opportunities and benefits of embracing instant payments for banks and financial institutions.
Speakers highlighted the potential for enhanced customer offerings, improved working capital management, and reduced transaction costs by adopting real-time payment solutions.
Moreover, the interoperability of instant payment systems, both domestically and across borders, emerged as a cornerstone for fostering collaboration and innovation within the industry.
Role of Tech in Fueling Real-Time Payments
Central to the discourse was the pivotal role of technology and innovation in driving the evolution of instant payments.
From leveraging ISO 20022 structured data for operational efficiency to streamlining internal systems for bank payments, the dialogue underscored the transformative potential of technological advancements in reshaping traditional banking paradigms.
Furthermore, exploring emerging use cases, such as QR code-based bill payments as opposed to traditional invoicing to provide instant remuneration and avoid trapped liquidity and real-time balance visibility for corporate clients, highlights the dynamic nature of instant payment ecosystems.
Accelerating Timeline for Adoption
Starting the SIC IP project immediately is crucial due to limited time and longer than expected implementation timelines.
Additionally, treat the implementation as more than an IT project as it covers all silos within the bank, from operations through to customer-facing support.
Ultimately, SIC IP empowers financial institutions to deliver added value to customers, reducing churn and fostering loyalty. It is also about optics; all banks want to be seen as innovators by their customers, not laggards, and access to real-time payment rails is the top priority for corporations, followed by cash visibility.
By fostering collaboration, embracing innovation, and prioritising customer-centric solutions through SIC IP, banks and financial institutions in Switzerland can maintain their premier status on the world stage and chart a course toward a more inclusive, efficient, and resilient payment ecosystem in the digital age.
Watch Bottomline’s on-demand SIC Instant Payments: A Catalyst for Competitive Advantage webinar here. 

Featured image credit: Edited from Freepik


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	]]></description><link>https://fintechnews.eu/exploring-sic-instant-payments-in-switzerland-challenges-solutions-and-future-prospects</link><guid>3568</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Bottomline-SMG-3.jpg</dc:content ><dc:text>Exploring SIC Instant Payments in Switzerland: Challenges, Solutions, and Future Prospects</dc:text></item><item><title>A Wealthtech Startup in Germany to Offer Mobile Phone Plans</title><description><![CDATA[
									
					
							
					The family-focused fintech Bling and Telekom partner to launch Bling Mobile.
18 months after its launch, the Berlin-based Fintech counts over 50,000 families on its platform.
In the midst of the ‘funding winter’ a year ago, Bling raised millions from renowned investors such as La Famiglia (General Catalyst), PEAK, and Ben Tellings, former CEO of the German ING branch.






Bling is designed as a family platform, allowing children and parents to manage and invest their money with the Bling Card and App, as well as organize their household.
Bling Mobile is the first mobile product in the European Union specifically designed for families, including innovative child safety functions and content to promote media literacy. Bling’s integration of a telco tariff portfolio within its app, enriched with parental control functionalities, reflects a strategic move towards a more holistic family-oriented platform.
Mobile virtual network operators on the rise
The partnership with Telekom, the largest telco provider in Europe, showcases the potential for Mobile Virtual Network Operators (MVNOs), highlighting the intersection of fintech and telecommunications for a lucrative business proposition with comparatively higher margins than in the B2C fintech sector.
Bling’s venture into mobile communications taps into the rising popularity of e-SIMs, providing users with seamless connectivity options. This strategic shift also addresses the changing dynamics within the fintech sector. Bling benefits from serving the first touch points that parents get for their children: the first bank account, the first investment and now the first SIM card, implying a multi-billion TAM.
Nils Feigenwinter
“With Bling Mobile, we make the next step in expanding to a holistic family platform. From managing pocket money, facilitating effortless parent investing, and organizing households’ tasks, we now streamline mobile communication for families”
– explains Nils Feigenwinter, CEO and co-founder of Bling.



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	]]></description><link>https://fintechnews.eu/a-wealthtech-startup-in-germany-to-offer-mobile-phone-plans</link><guid>3567</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>A Wealthtech Startup in Germany to Offer Mobile Phone Plans</dc:text></item><item><title>SNB Study: Results of the Swiss Payment Methods Survey</title><description><![CDATA[
									
					
							
					In spring 2023, the Swiss National Bank conducted its second payment methods survey of companies in Switzerland.
Around 1,750 companies, across all sizes, language regions and industries, participated in this survey on payment method topics. In-depth knowledge of these topics helps the SNB to fulfil its statutory tasks in relation to the supply and distribution of cash and to cashless payments.







The most important findings of the payment methods survey of companies are as follows:
Companies are creating a good basis for freedom of choice between cash and cashless payment methods in everyday transactions by accepting a wide range of payment methods. Since the last survey in 2021, companies have tended to broaden their payment method acceptance. In particular, mobile payment apps and transfers are accepted more often. Cash acceptance continues to be high and has changed little since 2021.

For cash to continue to be accepted by companies, it has to be used by the population. According to the payment methods survey of private individuals from 2022, there is a broad desire among the population for cash to continue to be available as a payment method. The company survey now shows that customer needs play a key role in determining which payment methods are accepted by companies. A decline in cash usage could therefore lead to a decline in cash acceptance.
To be able to accept cash, companies are also reliant on having good access to cash infrastructure. The survey indicates that ATMs and bank counters are key for companies’ cash withdrawals and returns.
The majority of companies state that they are satisfied with their access to cash. There are however some companies which do not have an alternative available (e.g. a bank counter) to their current supply source. In the case of a decrease in the cash infrastructure, one in four companies would use less cash, which would in turn be likely to have a negative effect on cash acceptance.
You can find the full report on the 2023 payment methods survey of companies on the SNB website.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/snb-study-results-of-the-swiss-payment-methods-survey</link><guid>3566</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/payment-method-acceptance-1024x515.jpg</dc:content ><dc:text>SNB Study: Results of the Swiss Payment Methods Survey</dc:text></item><item><title>Abschaffung von Kontoführungsgebühren – merkt es die Schweizer Kundschaft überhaupt?</title><description><![CDATA[
									
					
							
					Die Preise für Bankdienstleistungen sind in den letzten zwanzig Jahren wesentlich stärker gestiegen als das allgemeine Preisniveau. Ein Hauptgrund hierfür war das Negativzinsumfeld, das zu einer Verengung der Zinsmarge bei den Banken führte und gewisse Banken dazu veranlasst hat, ihre Preispolitik in anderen Bereichen anzupassen.
Durch die seit 2022 gestiegenen Leitzinsen und wohl auch durch den Erfolg von Smartphone Banken haben erste traditionelle Banken die Kontoführungsgebühren abgeschafft. Dies sollte die Kundschaft erfreuen. Aber wissen die Kundinnen und Kunden überhaupt, wie hoch die Kontoführungsgebühren sind? Wie oft informieren sie sich über diese Kosten?
Und bei welchen Bankengruppen hat die Kundschaft die genaueste Kenntnis über ihre Kosten? Um dies zu überprüfen, haben wir gemeinsam mit der Beratungsgesellschaft Simon-Kucher das Preisbewusstsein von knapp 1’500 Personen in der Schweiz abgefragt. Die wichtigsten Erkenntnisse zeigen wir im nachfolgenden Blog.






Die Inflation in der Schweiz, gemessen am Landesindex der Konsumentenpreise (LIK), war in den letzten 20 Jahren sehr tief (durchschnittlich rund 0.5% pro Jahr). Das bedeutet, dass die Preise über den gesamten Warenkorb hinweg etwa um 11% höher sind als Ende 2003. Im Gegensatz dazu sind die Kosten für Finanzdienstleistungen im selben Zeitraum um 60% gestiegen (vgl. Abbildung 1).
Abbildung 1: Entwicklung der Preise in den vergangenen 20 Jahren
Abschaffung von Kontoführungsgebühren – merken es die Kunden?
Die Bankgebühren sind vor allem in den vergangenen 17 Jahren deutlich angestiegen. Lange Zeit wurde diese Entwicklung nur am Rande thematisiert. Doch mit dem Eintritt von Smartphone-Banken, die eine kostenlose Kontoführung (meist zusammen mit einer Zahlungskarte) anbieten, ist das Thema zunehmend in den Fokus gerückt.
Besonders mediale Aufmerksamkeit erhielten die Kontoführungsgebühren, als die Zürcher Kantonalbank ankündigte, ab dem 1. Januar 2024 die Jahresgebühren für Privatkonten und Debitkarten abzuschaffen. Bereits zuvor hatte die Aargauische Kantonalbank ab 1. April 2023 sämtliche Kontoführungsgebühren und Buchungsspesen auf Privat- und Firmenkonti gestrichen. In der Zwischenzeit haben auch die St. Galler Kantonalbank oder die Thurgauer Kantonalbank bekanntgegeben, dass sie diese Gebühren per April 2024 abschaffen werden. Was bei Smartphone-Banken wie Revolut, Yuh oder Neon bereits Standard ist, übernehmen nun also auch die ersten traditionellen Banken.
Im Rahmen unserer empirischen Untersuchung wollten wir daher eruieren, wie wichtig die Höhe der Kontoführungsgebühren für die Bankkundschaft überhaupt ist und ob sie sich dieser Kosten bewusst sind. Zu diesem Zweck wurden zwischen dem 25. August und dem 7. September 2023 insgesamt 1’410 Personen mittels einer Online-Umfrage befragt.
Die Stichprobe umfasst die internetnutzende Bevölkerung in der Deutschschweiz, der Westschweiz und dem Tessin im Alter von 18 bis 75 Jahren. Es wurde eine Quotensteuerung angewendet in Bezug auf Alter, Geschlecht und Sprachregion, damit ein möglichst repräsentatives Bild der aktuellen und potenziellen Kundschaft von Retailbanken gezeichnet werden kann.
Unsere Erhebungsmethode
Für die Analyse der Preise von Basisdienstleistungen bei der Hauptbank (Konto und Zahlungskarte) wurde ein dreistufiges Verfahren angewendet (vgl. Abbildung 2). In der ersten Stufe wurde gefragt, wie oft sich die Befragten über diese Konditionen informieren. Anschliessend wurde das subjektive Wissen über die Konditionen erfasst. Die Umfrageteilnehmenden wurden gefragt, ob sie die Konditionen genau, ungefähr oder überhaupt nicht kennen.
Im dritten Schritt wurden die Preise in Franken pro Jahr abgefragt und diese Informationen mit den aktuellen Konditionen verglichen, basierend auf den zuvor erhobenen Daten zu den Bank- und Kontoverbindungen. Hierbei wurde ein Datensatz verwendet, der von Moneyland zur Verfügung gestellt wurde (Stand: Anfang August 2023, übereinstimmend mit Umfragezeitraum).
Abbildung 2: Schema der Erhebung
Wenig Interesse an einem Preisvergleich
Als erstes haben wir die Teilnehmerinnen und Teilnehmer der Umfrage zu ihrem Informationsverhalten befragt («Wie oft informieren Sie sich über Preise im Basisbereich (Kontoführungskosten, Kartengebühren) von Banken und vergleichen diese?»). Über 40 Prozent gab an, sich nie, oder so gut wie nie über die Kosten ihres Basispakets zu informieren. 17 Prozent der Befragten gaben an, diese Preise monatlich zu vergleichen. Eine weitere 42-prozentige Gruppe gab an, dies sporadisch zu tun, mindestens einmal im Jahr (vgl. Abbildung 3).
Bei der Betrachtung der demografischen Merkmale zeigt sich das folgende Bild: Männer, Angehörige der Generation Y, Personen mit Hochschulabschluss, sowie Personen mit höherem Vermögen und Einkommen informieren sich häufiger über die entsprechenden Kontoführungskosten oder Kartengebühren im Vergleich zu anderen Personen. Das geringe Interesse von Personen mit tieferen Einkommen und Vermögen überrascht etwas, da die jährlichen Kosten für Basispakete oft deutlich über CHF 100 liegen.
Subjektive und tatsächliche Preiskenntnisse in Bezug auf Basisdienstleistungen
So viele Schweizerinnen und Schweizer denken, dass sie die Preise kennen…
In einem zweiten Schritt wurde eruiert, wie es um das Wissen bezüglich der Kosten für Basisdienstleistungen in der Schweiz steht.
Abbildung 4 zeigt die subjektiven Preiskenntnisse nach demografischen Merkmalen. Insgesamt gibt ein Drittel der Befragten an, die Kosten für das Basispaket nicht zu kennen. Auf der anderen Seite geben 22 Prozent der Befragten an, diese Kosten genau zu kennen. Weitere 21 Prozent der Befragten gaben an, dass diese Dienstleistungen für sie bei ihrer Hausbank kostenlos seien.
Abbildung 4: Subjektive Preiskenntnisse
Unsere Untersuchungen zeigen Unterschiede in der Selbsteinschätzung der Preiskenntnisse zwischen Männern und Frauen. Frauen geben dabei tendenziell an, weniger gut über die Preise informiert zu sein als Männer. Eine weitere interessante Beobachtung ist, dass es auch Unterschiede in der Wahrnehmung der Preiskenntnisse nach dem Vermögen gibt. Personen mit höherem Vermögen scheinen sich selbst häufiger als gut informiert über Preise einzuschätzen als solche mit geringerem Vermögen.
…und so viele Befragte kennen die Preise tatsächlich
Wie oben aufgezeigt, gaben lediglich 22 Prozent der Befragten an, die genauen Kosten zu kennen. Doch unsere Analyse zeigt, dass von diesen Personen tatsächlich nur 30 Prozent den exakten Preis und 11 Prozent den Preis ungefähr kannten.
26 Prozent der Befragten gaben an, dass sie die Preise ungefähr kennen. Tatsächlich wissen aber nur knapp 19 Prozent dieser Gruppe Bescheid über die ungefähre Höhe dieser Gebühren (5% dieser Befragten kennen die Preise sehr genau). Dies verdeutlicht, dass es in Bezug auf die Kenntnis der tatsächlichen Kosten für Bankdienstleistungen in der Schweiz erhebliche Unklarheiten gibt und viele Menschen fälschlicherweise das Gefühl haben, die Preise zu kennen.
Insgesamt wissen derzeit nur rund 17 Prozent der Bevölkerung, wie hoch ihre Gebühren für die Kontoführung und Karten sind. Rechnet man die Gruppe der Personen mit «kostenlosen Bankpaketen» weg, kennen 9.1 Prozent der Bevölkerung in der Schweiz die Bankkosten für ihre Basisdienstleistungen.
Die Preiskenntnisse werden deutlich überschätzt
Abbildung 5 fasst die obigen Resultate noch einmal zusammen und zeigt, dass rund 2/3 all jener Personen welche ihre Preiskenntnisse als sehr gut einschätzen, die Kosten deutlich über- oder unterschätzt haben (um mehr als 20% pro Jahr). Es ist auch erstaunlich festzustellen, dass mehr als die Hälfte derjenigen, die angeben, dass die Kontoführung kostenlos ist, tatsächlich für ihr Basispaket bezahlen (sofern sie keine Sonderkonditionen haben).

Abbildung 5: Subjektive und tatsächliche Preiskenntnisse in Bezug auf Basisdienstleistungen
Eine Analyse nach demographischen Merkmalen zeigt auf, dass überdurchschnittlich viele Personen aus der Generation Z ihre Kosten für Basisdienstleistungen kennen. Allerdings ist zu beachten, dass diese Dienstleistungen für junge Bankkundinnen und -kunden in der Regel kostenlos sind, was das scheinbar positive Ergebnis hinsichtlich der Preiskenntnisse erheblich relativiert. Ansonsten zeigen sich auch in einer detaillierten Analyse nach verschiedenen Merkmalen nur wenige Auffälligkeiten.
Es kann aber festgestellt werden, dass im Allgemeinen die Befragten mit höheren Einkommen und Vermögen ein besseres Verständnis für die Kosten von Bankprodukten aufweisen.
Nach Bankengruppe zeigen sich interessante Unterschiede im Kenntnisstand der Befragten bezüglich der Kontoführungsgebühren (vgl. Abbildung 6). Als erstes zeigt unsere Analyse wenig überraschend, dass die meisten Kundinnen und Kunden von Neobanken wissen, dass bei den meisten Anbietern keine Kontoführungsgebühren anfallen. Als weiteres fällt auf, dass die PostFinance Kundschaft die tatsächlichen Preise ziemlich gut kennt. Im Gegensatz dazu wissen mehr als 90% der Kundinnen und Kunden von Raiffeisen und UBS nicht, wie viel sie eigentlich für die Basisdienstleistungen bezahlen.
Eine weitere interessante Feststellung ist, dass bei über einem Viertel der Kundschaft von Kantonalbanken und UBS der Eindruck besteht, dass sie mehr bezahlen, als sie tatsächlich müssen. Im Gegensatz dazu fällt besonders bei PostFinance auf, dass etwa 30 Prozent der Kunden das Gefühl haben, weniger zu bezahlen, als sie tatsächlich tun.
Bei Raiffeisen ist zu beobachten, dass 43% der Kundschaft nicht wissen, wie hoch die Kosten für die Basisdienstleistungen sind. Unter denen, die angeben, die Kosten zu kennen, stellen sich die tatsächlichen Gebühren als deutlich höher heraus als die angegeben, was bedeutet, dass sie mehr bezahlen, als sie annehmen. Auch Personen mit tiefem Einkommen und tiefem Vermögen haben das Gefühl, dass sie weniger bezahlen, als sie tatsächlich müssen. Nach Region schliesslich fällt auf, dass vor allem Personen im Tessin ihre tatsächlichen Kosten im Schnitt deutlich unterschätzen (also mehr bezahlen, als sie denken).
Abbildung 6: Tatsächliche Preiskenntnisse nach Hauptbank
Fazit
Eine einfache Fokussierung auf den Preis des Basispakets spricht gemäss unseren Analysen nur eine kleinere Bevölkerungsgruppe an. Einerseits kennt nur rund eine Person von sechs den tatsächlichen Preis der Basisdienstleistungen. Rechnet man die Gruppe der Personen mit «kostenlosen Bankpaketen» weg, kennen sogar nur 9.1 Prozent der Bevölkerung in der Schweiz die Bankkosten für ihre Basisdienstleistungen.
Zudem sind nur für rund 14 Prozent der Gesamtbevölkerung die monatlichen Gebühren der wichtigste Entscheidungsfaktor für die Wahl der Hausbank. Auch bei den meisten dieser preissensitiven Personen ist der Preis bei der Wahl der Hauptbank nur sehr selten der alleinig ausschlaggebende Faktor für die Bankkundschaft. Auch bei besonders preissensiblen Kundinnen und Kunden zeigt sich, dass auch Leistungsfaktoren oder die Marke der Bank bei der Entscheidungsfindung eine relevante Rolle spielen. Auch wenn eine Ankündigung von Kostensenkungen für (potenzielle) Kundinnen und Kunden erfreulich ist:
Eine einseitige Fokussierung auf den Preis dürfte nur eine (zeitlich) begrenzte Wirkung haben, eine eher kleinere Gruppe an Neukundinnen und Neukunden zu gewinnen.

Dieser Artikel erschien zuerst auf dem Blog der HSLU und wurde mit deren Bewilligung veröffentlicht


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	]]></description><link>https://fintechnews.eu/abschaffung-von-kontofuhrungsgebuhren-merkt-es-die-schweizer-kundschaft-uberhaupt</link><guid>3565</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>Abschaffung von Kontoführungsgebühren – merkt es die Schweizer Kundschaft überhaupt?</dc:text></item><item><title>Media M&amp;A Landscape Confident for Growth Amid Strategic Shifts</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 26, 2024
																				





					
					
							
					In 2023, the mergers and acquisitions (M&amp;A) market underwent a considerable decline, dropping by 15% year-on-year (YoY) in value to US$4.3 trillion and reaching its lower level in a decade, data from Bain and Company’s M&amp;A Report 2024 shows.
Strategic M&amp;A declined 6% and strategic deal multiples were the lowest they’ve been in a decade. Deals were delayed for a number of reasons, the report says, including high interest rates, mixed macroeconomic signals, regulatory scrutiny, and geopolitical risks.
M&amp;A deal market value (in trillions of US$), Source: M&amp;A Report 2024, Bain and Company, Jan 2024
Media M&amp;A in 2023
In the media industry, companies navigated significant shifts driven by the decline of linear TV and the need for profitability in streaming services. They actively adjusted strategies to focus on profitability rather than subscriber growth solely, diverting non-core assets and making bold moves like joint ventures with former competitors.






Some of 2023’s most notable deals:

Walt Disney’s cable sports channel ESPN inked in August a US$2 billion deal with casino-owner Penn Entertainment to jointly launch a sports betting business under the brand ESPN Bet. The strategic partnership is notable because it represents Disney’s initial foray into sports betting, an industry sector that Disney CEO Bob Iger indicated was not an arena that he saw as compatible with the Disney brand back in 2019.
Disney bought in November 2023 Comcast’s one-third stake in Hulu for US$8.6 billion. The acquisition will see the two platforms merge into a single unified streaming app, offering standalone options for both Hulu and Disney+ while also exploring bundle deals.
Lionsgate Entertainment closed in December its acquisition of global entertainment platform eOne from Hasbro for approximately US$500 million. The deal represents a strategic expansion of Liongate’s content portfolio and global reach, adding 6,500 film and television titles to its library and expanding its presence in Canada and the UK.
In October, Microsoft concluded its acquisition of Activision Blizzard for US$69 billion, the company’s largest ever deal. Activision Blizzard is the publisher and developer of several massive gaming franchises, including Call of Duty, Diablo and World of Warcraft. Its mobile gaming subsidiary, King, is the developer behind Candy Crush Saga. The deal emphasizes Microsoft’s commitment to community-driven gaming experiences.
In the publishing vertical, British group Informa secured two deals in 2023, acquiring in March international business-to-business (B2B) group Group Tarsus, and in May, specialist B2B events, data and media group Winsight. The Tarsus deal, valued at US$940 million, will see Tarsus combining with Informa’s live and on-demand events portfolio. The Winsight deal, worth US$380 million, will allow Informa to strengthen its position in the specialist B2B foodservice market.
In June, Providence Equity Partners, a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, closed its acquisition of global events business Hyve in partnership with Searchlight Capital Partners. Hyve operates a global portfolio of market-leading in-person and tech-enabled events including brands such as Shoptalk, Spring Fair, Bett, Mining Indaba and the recently acquired Fintech Meetup.
In July, multi-platform media company Vice Media Group completed its sale to a consortium of its former lenders. Launched in 1994 as a fringe magazine, Vice Media operates in more than 30 countries. The company’s revenues have been flat for some years and it has also struggled to turn a profit. Once valued at almost US$6 billion, Vice Media was sold for US$350 million.
American mass media, publishing and information services company Penske Media Corporation acquired in February a 20% stake in Vox Media for US$100 million. The deal made Penske Media the largest single shareholder in the digital publisher. Vox Media operates several brands including Vox.com, New York Magazine, Popsugar, Thrillist, Vulture and SB Nation.

2024 outlook
In 2024, the M&amp;A landscape is poised for significant activity, driven by an excess of assets waiting to be traded. Bain expects corporates to sell assets that do not fit with their strategy, and private equity to sell aging portfolio companies. The firm anticipates more scale deals for consolidation before a return to growth-oriented investments.
In the media industry, companies will continue to turn to different M&amp;A strategies to get out ahead of the evolving sector, pursuing opportunities in divestitures, partnerships with competitors and capability acquisitions.
Reed Phillips, CEO of Oaklins DeSilva+Phillips, a middle market investment bank focusing on media, technology and marketing industries, expects to see moderate activity in the digital media sector this year, though valuations will be substantially lower than they were in 2021-2022.
Similarly to Bain and Oaklins DeSilva+Phillips’ Reed Philips, FE International, a digital media M&amp;A advisory firm, forecasts notable deals in the digital media space this year as companies shift strategies to adapt to new market expectations, opting for concentrated investments and prioritizing innovation, efficiency, and fortification of organizational structures.
Several trends will drive this surge, the report says, including the rise of generative artificial intelligence (AI). Generative AI is set to fundamentally restructure the digital media value chain, helping generate more engaging and personalized content, improving efficiency and productivity, and enabling predictive analytics.
According to FE International, industry players will consolidate their grip this year onwards, investing in technological add-ons including generative AI-enabled tools to maintain the edge of their offerings.
Notable digital media deals in 2024 so far:

Thomson Reuters Corporation, a global content and technology company, announced in February the acquisition of World Business Media Limited, a cross-platform, subscription-based provider of editorial coverage for the (re)insurance industry. World Business Media’s products include The Insurer, The Insurer TV, and The Insurer Events. The acquisition aligns with Reuter’s strategic priority to provide must-have news and insight for new customer markets and professional verticals.
TechTarget and Informa struck a deal in January to combine Informa Tech’s digital businesses with TechTarget to create a leading global platform in B2B data and market access. The combined company, called New TechTarget, will focus on helping vendors in enterprise technology and other markets, providing services in audience development, demand generation, buyer intent, content marketing and tech research. In addition to its Informa Tech digital businesses, Informa said it would contribute US$350 million of cash in exchange for a 57% stake in the combined company.


Featured image credit: edited from freepik



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	]]></description><link>https://fintechnews.eu/media-ma-landscape-confident-for-growth-amid-strategic-shifts</link><guid>3564</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Media-MA-Landscape-Poised-for-Growth-Amid-Strategic-Shifts-and-Tech-Advancements-1440x564_c.jpg</dc:content ><dc:text>Media M&amp;A Landscape Confident for Growth Amid Strategic Shifts</dc:text></item><item><title>Vencora Acquires Crealogix</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 23, 2024
																				





					
					
							
					UK based Vencora announced the settlement of its public tender offer for all publicly held registered shares of Crealogix Holding with a nominal value of CHF 8.00 each.
The Offer was completed successfully on February 21, 2024.
With a proven track-record of providing quality solutions to its customers and a history of successful transactions, the acquisition of Crealogix greatly expands Vencora’s presence within the banking technology industry.






Crealogix was founded in 1996 and was listed on the SIX Swiss Stock Exchange in 2000. Since then, it has successfully grown its customer base, and serves more than 600 customers in 15 countries around the globe. Crealogix is recognized as a Swiss Fintech 100 company, and its solution set includes Conversational AI, Funding Portal and Lending Origination Hub.
Ateet Patel
“We are incredibly excited to have Crealogix become part of Vencora,”
said Ateet Patel, Banking Portfolio Manager at Vencora.
“Crealogix is an incredible company with an outstanding team, and we look forward to enabling them with resources and guidance to help drive even greater success.”
Crealogix becomes Vencora’s sixteenth brand in its growing portfolio. Under Vencora, the company will gain access to new best practices and have ongoing opportunities to network and learn from leaders from the entire portfolio of companies. The Vencora portfolio helps its companies and leaders become stronger together.
Crealogix will continue to operate independently under the leadership of Oliver Weber, CEO of Crealogix. Vencora’s decentralized business model offers its portfolio of businesses the ability to maintain their independence, which allows them to focus on the needs of customers and employees post-acquisition.
Oliver Weber
“We are proud to be now part of the Vencora family. We share Vencora’s value-based culture with a clear focus on investing in our people through continuous learning,”
said Weber.
“Crealogix has a proven track record in acquiring companies with a long-term focus and a wealth of experience in acquiring software companies in the banking and financial services sector. Our specialisation in vertical markets with international distribution and our history of successful acquisitions make us a very a good fit for Vencora.”
Vencora is a global collective of technology companies passionate about changing the face of the financial services industry. Headquartered in Toronto Canada, Vencora acquires, strengthens and grows vertical market technology companies in the banking, insurance and financial services sector.
Terms of the Offer
Following the settlement, Vencora directly and indirectly holds 1,391,622 CREALOGIX shares in aggregate, representing 99.07% of the issued share capital and voting rights of CREALOGIX.
Vencora intends to initiate squeeze-out proceedings and to have the shares of Crealogix delisted from SIX Swiss Exchange, and to have Crealogix apply for an exemption from certain disclosure and publicity obligations under the listing rules of SIX Exchange Regulation AG.

Featured image credit: Oliver Weber, CEO of CREALOGIX and Ateet Patel, Banking Portfolio Manager at Vencora


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	]]></description><link>https://fintechnews.eu/vencora-acquires-crealogix</link><guid>3563</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Vencora-Acquires-Crealogix-1440x564_c.jpg</dc:content ><dc:text>Vencora Acquires Crealogix</dc:text></item><item><title>Synthesized Receives UBS Next Investment</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 23, 2024
																				





					
					
							
					Synthesized Ltd, a London based data firm who provides engineering teams a quick way to create and share production-like test and training data through machine learning and automation, announced that UBS Next, the group’s venture and innovation unit, is investing in its next phase of growth.
Synthesized enables engineering teams to have:

Faster development cycles – completely removes test databases and provisions time delays from the software development lifecycle, leading to faster time to market and increasing developer productivity.
Cloud adoption strategies – optimizes cloud spend, reduces data storage costs for non-production environments, and provides compliant datasets for migration to the cloud.
Improved application quality – catches software bugs earlier when defects are less costly to address, while simultaneously improving application end user experiences.
Compliant experimentation and innovation – reduces vendor onboarding time and data approval time for POCs, guaranteeing 0% production data leakage risk.







Nicolai Baldin
Dr. Nicolai Baldin, Founder and CEO at Synthesized said:
“AI-based and more traditional software applications are only as good as the data used in their development and testing. This UBS Next investment will enable Synthesized to grow and evolve our mission of providing high-quality, privacy-preserving training and test data for application development, AI/ML, and analytics. We are excited to solidify our partnership with UBS on our mission.”
Christopher Purves
Dr. Christopher Purves, Co-Head of Group Emerging Technology and Global Head of IB Digital Platforms at UBS, added:
“The market opportunity for Synthesized is vast and growing. As companies increasingly rely on data for application development and AI/machine learning initiatives, the need for efficient, secure, and compliant production-like test data becomes paramount. Synthesized stands out by enabling software engineers to provision high-quality data on demand. It is intuitive as writing code and is a pioneering approach in the industry.”


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			&#13;
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		]]></description><link>https://fintechnews.eu/synthesized-receives-ubs-next-investment</link><guid>3562</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Synthesized-Receives-UBS-Next-Investment-1440x564_c.jpg</dc:content ><dc:text>Synthesized Receives UBS Next Investment</dc:text></item><item><title>IT Industry’s Surveillance Capitalism Threats Democracies, Autonomy</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 23, 2024
																				





					
					
							
					The information technology (IT) industry is taking a problematic trajectory, with major corporations running on business models that heavily rely on gathering personal data and manipulating user behavior.
If left unchecked, this “surveillance capitalism business model” poses an important threat to liberal democracies, providing further tools for repression to autocratic regimes, and threatening the quality of life of consumers.
To address this complex issue, a multifaceted approach must be deployed, involving pressure from civil society, alternative technological development, and regulatory responses, a doctoral thesis by Marvin Landwehr of the University of Siegen in Germany says.






The paper, titled “Surveillance Capitalism and two Cases of Currency Innovation”, explores the dominant business model behind the world’s largest free Internet services, highlighting their “devastating societal spillover” and exploring some of the solutions to address these issues.
The rise of surveillance capitalism
According to the report, the IT industry is taking a concerning direction, especially considering the rise of surveillance capitalism. Surveillance capitalism refers to a business model where companies profit by collecting and analyzing vast amounts of personal data from individuals, often without their explicit consent, and then using that data to influence user behavior for commercial gain.
The problem with surveillance capitalism lies in several aspects. For one, surveillance capitalism collects extensive personal data which are then used to manipulate and steer consumers’ behavior towards specific actions or purchases without their awareness. The model also prioritizes profit over user welfare, leading to exploitative practices such as monetizing user data without adequate compensation or consent.
Furthermore, the extensive gathering and analysis of personal data can undermine democratic processes by enabling targeted political messaging, manipulation of public opinion, and erosion of privacy rights. Finally, companies that excel in surveillance capitalism often achieve significant market dominance, creating monopolistic conditions that hinder competition and innovation.
In light of the rise of surveillance capitalism, the paper outlines suggestions for citizen education and resistance, highlighting the need of continued discussion and exposure of the extent of surveillance and political and other behavior manipulation.
The paper also formulates a set of technological considerations, stressing the need to design technology that decentralizes data ownership and communication. It notes that existing technologies can support alternatives to surveillance capitalism, citing key innovations including open source software, which allows for transparency, collaboration and building upon existing code; application programming interfaces (APIs), which facilitate adversarial interoperability and portability, encryption, which is crucial for safeguarding user privacy; and peer-to-peer (P2P) systems, which can bypass central control, offering alternatives in situations with power imbalances or risks of coercion or censorship.
The paper notes that while blockchain is a relevant technology that adheres to the theme of decentralization, their fundamental limitations, including issues relating to energy and the scalability, disqualify it in this case. Instead, the report recommends the use of post-blockchain distributed ledger technologies (DLTs), citing the examples of IoTA and Hashgraph in particular.
On the regulatory front, proposals include enforcing informed consent and promoting adversarial interoperability to combat user exploitation and monopolies.
The Case of Facebook Digital Currency
The paper then connects this discussion to two currency case studies. The first case study examines Facebook-backed digital currency project Diem, noting that while the firm presented a currency with an architecture that uses a blockchain variant and despite claims of decentralization, Diem shared the orientation of surveillance capitalism to a large extent, boasting an architecture that was prone to use payment data to fuel consumerism.
The second case study examines a Community Supported Agriculture (CSA) project in Germany, experimenting with alternative currencies within a sustainable agriculture framework. In the Luzernenhof case study, the report notes several innovation gaps, particularly in making these properties accessible through software for other CSAs and enabling cooperative distribution and accounting for alternative food networks. Moreover, it suggests exploring DLTs other than blockchain and centralized databases to align with community values of sustainability in future software design.
The thesis builds on previous work by Harvard Business School professor Shoshana Zuboff who has warned in her books about how tech giants are mining user data, analyzing them and selling them for predictive purposes, arguing that surveillance capitalism is hindering autonomy, eroding democracy, and fostering societal inequality.
For Zuboff, Google, Facebook, and increasingly Microsoft have emerged into three paradigmatic cases of surveillance capitalist companies. Rather than the previous model of selling hardware or software for use, they have all come to demonstrate a model in which they provide users services in return for appropriating their data.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/it-industrys-surveillance-capitalism-threats-democracies-autonomy</link><guid>3560</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/IT-Industrys-Surveillance-Capitalism-Threats-Democracies-Autonomy-1440x564_c.jpg</dc:content ><dc:text>IT Industry’s Surveillance Capitalism Threats Democracies, Autonomy</dc:text></item><item><title>Digital Nomadism, a Catalyst for Growth but also Fraud Surge</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 23, 2024
																				





					
					
							
					For companies, the digital nomad movement is a double-edged sword.
Bringing about new growth opportunities but also increasing fraud cases involving forgeries and counterfeit documents, a new study conducted by Regula, a global developer and provider of forensic devices and identity verification solutions, found.
This ambivalence is requiring businesses to adopt new methods of verifying users’ identities that are not only secure and reliable, but also seamless and user-friendly, the report says.






The study, conducted in partnership with UK-based market research agency Sapio Research, surveyed 750 fraud prevention decision makers and 750 digital nomads from the US, UK, Germany, Spain, the United Arab Emirates (UAE), and Mexico in September 2023 to explore emerging trends and identify effective strategies for businesses to navigate and capitalize on the rise of remote working.
According to the survey, companies worldwide are witnessing an influx of business coming from digital nomads and remote workers. Globally, 92% of the businesses surveyed by Regula and Sapio Research in 2023 indicated that the number of foreign documents they needed to verify had gone up since the summer of 2021. More than a third of businesses in the UAE (37%) reported that the number of these cases had increased by more than 25%. Industry-wise, insurance (27%) and finance (25%) recorded the biggest increase.
For many of these companies, the influx of business has been considerable. Worldwide, 50% of businesses indicated that at least 21% of their new revenue could be attributed to digital nomads. That’s also true for as many as 62% of businesses in the US and 64% of large enterprises. The retail, telecom, insurance, and banking sectors are benefiting the most from the rise of digital nomads, with 64% to 68% of businesses attributing almost a half of their new revenue to digital nomads.
While remote workers are opening up new growth opportunities for businesses, the study also found that it is introducing new risks. 80% of the businesses polled reported that digital nomads are increasing the number of fraud cases they need to deal with. On average, this increase was estimated at 14% with the highest rates being reported by the insurance (22%) and finance (19%) industries.
Identification challenges faced by businesses
Despite the rise of fraud attempts, the study found that businesses are facing a number of challenges when it comes to verifying the identities of digital nomads holding foreign documentations. 41% of respondents indicated the lack of unified document standards as their primary issue, followed by the increase in fraud cases using, for example, forged documents (40%), issues relating to language barriers (36%), different document formats (32%) and internal expertise gap (32%).
Primary business challenges when it comes to verifying foreign identities, Source: Identity Verification in a Globalized World, Regula, Feb 2024
Looking at the processes the most impacted by foreign documents, the study found that 71% of finance and banking businesses reported an increase in foreign document verification when customers open a new bank account.
In government services, there’s an even split between visa applications (45%), work permit applications (44%) and applications for new documents (42%), contributing to the increase in foreign documents needing verification.
Similarly, insurance applications (64%), bookings (54%), medical treatments (65%), online account creation (71%) and new phone activations (65%) are also responsible for increasing workloads across industries.
Technology adoption
To address the shifting landscape, businesses are adopting innovative methods and technologies to appropriately and accurately verify users. Among the top methods adopted, biometric verification tops the list, with 57% of those surveyed having it already implemented in their workflows, followed by electronic document verification (53%).
Adoption of biometric verification is the highest in the financial services and banking sector where 70% of respondents said that they had already implemented the technology, a rate that stands at 68% for insurance businesses. Similarly, 61% of businesses in both of these sectors are already equipped with the necessary capabilities to verify documents electronically.
Globally, a third of businesses (34%) said that they’ll need to increase their spending on identity verification by 11%-20%, with 38% of respondents sharing plans to implement blockchain-based identity verification within the next 12 months, followed by device fingerprinting (36%) and behavioral biometrics (36%). In particular, businesses in finance, banking and insurance were found to be the most serious about increasing their investments in identity verification solutions.
Technologies for detecting and preventing fraud currently used and planned for future implementation, Source: Identity Verification in a Globalized World, Regula, Feb 2024
Digital nomads represent a booming demographic and a massive business opportunity. According to the 2023 Digital Nomads Report by US-based consultancy MBO Partners, 17.3 million US workers were digital nomads last year, up 131% from the pre-pandemic year 2019 to 2022. 24 million other American adults said they aspired to join them within the next two to three years.
A 2023 study by travel writer Carlos Grider estimates the global population of digital nomads to be standing at approximately 35 million members with a collective economic value of approximately US$787 billion. SafetyWing, an insurance provider for digital nomads and remote teams, made US$24 million in revenue in 2022, a twofold year-on-year (YoY) increase from US$12 million the year prior.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/digital-nomadism-a-catalyst-for-growth-but-also-fraud-surge</link><guid>3561</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Digital-Nomadism-a-Catalyst-for-Growth-but-also-Fraud-Surge-1440x564_c.jpg</dc:content ><dc:text>Digital Nomadism, a Catalyst for Growth but also Fraud Surge</dc:text></item><item><title>The Top Swiss Law Firms for Fintech and Blockchain Practice</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 22, 2024
																				





					
					
							
					Chambers and Partners, a legal research company, has released its Chambers Fintech 2024 guide, an annual report which recognizes the top fintech advisors and litigators worldwide.
In this year’s Swiss edition, Chambers and Partners ranked MME Legal | Tax | Compliance, MLL Legal, Baer and Karrer, and Lenz and Staehelin as the top Swiss law firms in the fintech legal category, recognizing them for their expertise, diligence and customer service.
MME is a law firm based in Zurich and Zug that’s widely regarded for its work in the fintech sector. The company offers legal, tax and compliance advice to financial institutions and startups involved in various areas including cryptocurrency, electronic payments and robo-advisory. But its main domain of expertise is blockchain and digital assets. The company has worked with players such as Sygnum Bank, advising the company on regulatory and compliance work concerning the structuring for its digital asset bank.






MLL Legal is one of the largest Swiss commercial law firms, advising its clients in all areas of commercial law. MLL Legal stands out for its industry expertise in technically innovative specialist areas such as fintech, blockchain and artificial intelligence (AI), and also in regulated and innovative industries such as life sciences, information and communications technologies (ICT), financial services, real estate and retail and luxury. In the fintech sector, MLL Legal has worked with Kraken, one of the leading crypto exchanges worldwide, advising the company on anti-money laundering (AML) issues and financial market regulation matters related to the crypto exchange offering its products from the European Union (EU) into Switzerland.
Top Blockchain and Crypto Lawyers in Switerland
In addition to being named among Switzerland’s top four law firms in the fintech field, MME and MLL Legal also made the ranking in the blockchain and cryptocurrency category, being recognized as the most prominent Swiss law firms in the domain and gaining nine recognitions in the individual lawyer category. Individual lawyers recognized this year are Andreas Glarner, Ronald Kogens and Thomas Linder from MME, and Kilian Schärli, Catrina Luchsinger Ghwiler, Alexander Vogel, and Reto Luthiger from MLL Legal.
Fintech Legal, Blockchain and Cryptocurrencies, Leading Firms and Leading Individuals, Source: Chambers Fintech 2024, Chambers and Partners, Dec 2023
Baer and Karrer is another Swiss law firm that made it into this year’s the Chambers Fintech ranking. A leading legal firm, Baer and Karrer has a team of more than 200 lawyers spread across Zurich, Geneva, Lugano, Zug, Basel and St. Moritz. The firm specializes in banking and finance, capital markets, corporate and tax law, and has worked with established financial institutions as well as startups in the implementation of new technological platforms and initial investment rounds. The lawyers also assist in the development, implementation and protection of new business models and innovative financial products. Baer and Karrer has advised Bitcoin Suisse, one of Switzerland’s leading crypto service providers, on various novel compliance issues related to cryptocurrencies.
Finally, Lenz and Staehelin is a Swiss full service law firm, serving global clients from its offices in Geneva, Lausanne and Zurich. The firm has notable practices in banking and finance, corporate and intellectual property (IP), and tax, advising startups, investors, technology companies and established financial institutions on high-end fintech matters.
Fintech Legal, Leading Firms, Source: Chambers Fintech 2024, Chambers and Partners, Dec 2023
Top Swiss Fintech Lawyers (Category Individual)
In addition to being recognized for their fintech practice, these four law firms gained a total of ten recognitions in the individual lawyer category.  Practitioners from MME, MLL Legal, Baer and Karrer and Lenz and Staehelin who made it into the 2024 Leading Individuals ranking are Andreas Glarner, Ronald Kogens and Thomas Linder from MME; Kilian Schärli, Reto Luthiger and Alexander Vogel from MLL Legal; Daniel Flühmann, Peter Hsu and Eric Stupp from Baer and Karrer; and Ronald Kogens and Lukas Morscher from Lenz and Staehelin.
Fintech Legal, Leading Individuals, Source: Chambers Fintech 2024, Chambers and Partners, Dec 2023
Each year, Chambers and Partners releases its selection of the world’s top performing payments, blockchain, cybersecurity and data protection specialists across the world. These law firms and practitioners are selected and ranked after in-depth interviews with clients and a thorough assessment of their reputations and expertise. Criteria taken into account include technical legal ability, professional conduct, client service, commercial awareness/astuteness, diligence and commitment.
This year, the Chambers Fintech 2024 report comprises 860 department rankings and features 490 unique ranked organizations. This represents double-digit growth over the previous guide in percentage terms. A total of 703 individual lawyers were ranked, up 26% from 2023 and almost double the 383 lawyers included in the 2021 edition. Chambers Fintech 2024 also ranked 26 Up and Coming junior partners and 31 Associates to Watch/Star Associates.
Top Fintech and Blockchain Consulting Firms in Switzerland
In the Swiss ranking, Chambers Fintech 2024 also recognized the most prominent and experienced consulting firms in the fintech sector, putting EY, PwC and Validity Labs at the top of the list.
The report highlights EY’s work in the financial sector, emphasizing the firm’s involvement with licensing matters, audits, and regulatory advice related to blockchain technology and digital assets. PwC is recognized for its strong expertise in traditional tax and audit services, as well as for its initial coin offering (ICO) services. Finally, Validity Labs is a market-leading consultancy widely known in the Swiss market for the quality of its blockchain, tokenization and ICO expertise.
Consulting, Leading Firms, Source: Chambers Fintech 2024, Chambers and Partners, Dec 2023
In Switzerland, law firms are sharpening their fintech expertise amid a thriving fintech sector and ecosystem. According to the 2023 Tech Cities Index by Savills, Switzerland has emerged into a fintech powerhouse, with two Swiss cities claiming spots in the top ten fintech hubs in Europe last year.
Zug, which is known for its extensive crypto and blockchain ecosystem, secured the fourth position regionally, while Zurich followed closely at the sixth position, recognized for its massive fintech startup ecosystem, highly educated and skilled workforce, and robust financial sector.
Savills 2023 Tech Cities Fintech Index, Source: Savills

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/the-top-swiss-law-firms-for-fintech-and-blockchain-practice</link><guid>3559</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/MME-MLL-Legal-Baer-and-Karrer-Ranked-Among-Top-Swiss-Law-Firms-for-Fintech-Practice-1440x564_c.jpg</dc:content ><dc:text>The Top Swiss Law Firms for Fintech and Blockchain Practice</dc:text></item><item><title>KI Partnerschaft zwischen Adnovum und Squirro</title><description><![CDATA[
									
						
																				
																			
												
															
									by Company Announcement								
																						February 21, 2024
																				





					
					
							
					Adnovum und Squirro starten eine strategische Partnerschaft, um innovative Lösungen für die Banken- und Versicherungsbranche, für Transport- und Logistikunternehmen sowie für den öffentlichen Sektor anzubieten.
Das Ziel der Zusammenarbeit ist es, mit den modernen Technologien von Squirro in den Bereichen künstliche Intelligenz (KI), Natural Language Processing (NLP) und Retrieval Augmented Generation (RAG) die digitalen Lösungen von Adnovum weiter zu verbessern. Damit entsteht eine leistungsstarke Synergie, die den dynamischen und sich verändernden digitalen Anforderungen der oben genannten Sektoren gerecht wird.
Dorian Selz
Dr. Dorian Selz, CEO und Mitbegründer von Squirro, äussert sich begeistert über die Zusammenarbeit:






«Die Partnerschaft zwischen Squirro und Adnovum ist ein Meilenstein für innovative Lösungen im Banken-, Versicherungs- und öffentlichen Sektor. Durch die Integration der massgeschneiderten digitalen Lösungen von Adnovum mit der modernen generativen KI-Technologie von Squirro transformieren wir nicht nur die Geschäftsabläufe – wir leisten Pionierarbeit für eine Zukunft, in der sich unsere Kunden durch eine intelligente Datennutzung und verbesserte Entscheidungsfindung auszeichnen. Diese Synergie verspricht beispiellose Fortschritte im Servicemanagement und bei der Kundenbindung und stellt sicher, dass unsere Kunden ihre strategischen Ziele nicht nur erreichen, sondern übertreffen.»
Thomas Zangerl
Auch Thomas Zangerl, CEO von Adnovum, ist vom grossen Potenzial dieser Partnerschaft überzeugt:
«Mit der vereinten technischen Expertise von Squirro und Adnovum wollen wir Kunden in der Schweiz und in Singapur bei der nächsten Generation von KI und bei Fortschritten der generativen KI an die Spitze führen. Dies geht über die herkömmliche digitale Transformation hinaus. Unsere Lösungen fügen sich nahtlos in bestehende Arbeitsabläufe ein, um die Produktivität zu steigern, und ergänzen menschliche Intelligenz durch KI, um den Betrieb zu optimieren.»


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		]]></description><link>https://fintechnews.eu/ki-partnerschaft-zwischen-adnovum-und-squirro</link><guid>3558</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Adnovum-und-Squirro-tun-sich-zusammen-um-Banken-Versicherungen-und-den-offentlichen-Sektor-mit-generativer-KI-zu-verandern-1440x564_c.jpg</dc:content ><dc:text>KI Partnerschaft zwischen Adnovum und Squirro</dc:text></item><item><title>European Banks Invest in Fintech Startups, Embrace New Tech Amid Rising Threat from Digital Challengers</title><description><![CDATA[
									
					
							
					In Europe, incumbent banks are responding to rising competition from platform players, neobanks and payment providers by launching their own digital-only subsidiaries, investing in technology and providing banking-as-a-service (BaaS) offerings.
These strategies are arising as banks are perceiving considerable threat coming from new-age digital players, and most particularly from payment service and technology providers, findings from a new study conducted by Economist Impact and commissioned by Swiss enterprise software provider Temenos reveal.
The findings, shared in a report titled “Challenging the challengers: Europe’s banks face the competition”, were drawn from a global survey of 300 executives in retail, commercial and private banking spanning Europe (25%), North America (23%), Asia Pacific (18%), Middle East and Africa (17%), and Latin America (17%) to understand emerging trends in the banking industry.






Results of the survey reveal that European banks are more likely than banks elsewhere to expect neobanks to be their company’s biggest competitors in the next five years. Despite this, payment players and tech providers continue to be at the top of mind, with payments being the space banks predict new entrants will gain the most market share moving forward.
Electronic payments have soared in recent years, accelerated by the COVID-19 pandemic. In the European Union (EU), the volume of electronic payments hit EUR 240 trillion in 2021, up from EUR 184.2 trillion in 2017, data from the European Commission show. Fintech growth has been particularly strong in the space, with 93 of the global sector’s top 335 unicorns in June 2023 providing payment solutions, showcasing the rising threat these digital players are putting on financial incumbents.
What is the main area where you expect new entrants to gain the most market share? Source: Challenging the challengers: Europe’s banks face the competition, Economist Impact/Temenos, Jan 2024
Recognizing the growth of new-age paytech companies, European banks are planning to maintain their own products all the while becoming aggregators of third-party banking and/or non-banking products, more so than banks in other regions.
They will also be focusing on providing banking-as-a-service (BaaS) offerings to brands and fintech companies with hopes of diversifying their revenue streams, scaling their operations more efficiently by serving a broader range of customers through partnerships, and deepening their relationships with existing customers.
What is the primary way in which you see your current business model evolving over the next 12-24 months? Source: Challenging the challengers: Europe’s banks face the competition, Economist Impact/Temenos, Jan 2024
Banks are also realizing that they are losing ground to fintech companies due to poor digital customer experience, a predicament they aim to address by investing in technology such as artificial intelligence (AI) and augmented and virtual reality (AR/VR).
European banks see AI as a key part of their tech investment strategy, the study found, in particular to improve the customer experience and support digital marketing, with three quarters (75%) of European bankers believing that the banking sector will be significantly impacted by generative AI. Some are also investing in AR/VR to improve customer experience.
European banks are also migrating to public cloud services and software-as-a-service (SaaS) in greater numbers than their counterparts in other regions. Over a fifth of European banks (21%) view cloud as a strategic priority that will ensure that their operations are agile and secure, allowing them to compete with more nimble competitors. Digital channels are the most focus of migration for European banks.
What type of applications do you believe that banks will prioritize in moving to the cloud over the next 12-24 months?
When asked about their innovation strategies, European banks cited investing in fintech startups as their top strategy (43%), followed by building their own greenfield digital bank or fintech company (36%). These strategies are aimed at offering innovative services, reaching new customers and/or tapping new digital capabilities.
What is your bank’s innovation strategy? Source: Challenging the challengers: Europe’s banks face the competition, Economist Impact/Temenos, Jan 2024
The study also found that the European banks surveyed are more concerned than their peers in other regions that environmental, social and governance (ESG) regulations will lower the financial profitability of the banking sector. However, European banks are lagging behind their peers in offering embedded ESG/sustainable banking propositions to their customers.
Banks will offer embedded ESG:sustainable banking propositions to their customers – both retail and enterprise, Source: Challenging the challengers: Europe’s banks face the competition, Economist Impact/Temenos, Jan 2024
ESG considerations are growing ever-so critical to European banks. Firstly, regulatory authorities are increasingly emphasizing ESG compliance, necessitating banks to disclose ESG-related risks and adhere to environmental and social regulations. Secondly, ESG considerations can directly impact a bank’s financial performance.
For example, investments in environmentally sustainable projects may generate positive returns while reducing exposure to climate-related risks. Moreover, integrating ESG factors into risk management processes allows banks to identify and mitigate risks associated with climate change, social issues and governance practices.
In December 2022, the European Banking Authority (EBA) published its roadmap on sustainable finance, outlining the objectives and timeline for delivering mandates and tasks in the area of green finance and ESG risks.
The EBA’s objectives include enhancing transparency and disclosures regarding ESG risks, integrating ESG factors into risk management and supervision, assessing prudential regulations related to environmental and social considerations, contributing to the development of green standards, and monitoring developments in sustainable finance and institutions’ ESG risk profiles.


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	]]></description><link>https://fintechnews.eu/european-banks-invest-in-fintech-startups-embrace-new-tech-amid-rising-threat-from-digital-challengers</link><guid>3557</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>European Banks Invest in Fintech Startups, Embrace New Tech Amid Rising Threat from Digital Challengers</dc:text></item><item><title>PostFinance Starts with New Crypto Product Offering</title><description><![CDATA[
									
					
							
					PostFinance is launching a crypto service tomorrow.
The new offering will enable its customers to purchase or securely store an initial range of 11 cryptocurrencies at the click of a mouse or even set up a crypto saving plan – similar to a funds saving plan. The launch aims to promote user-friendliness, transparency and attractive conditions for all.
PostFinance will be the first systemically important bank in Switzerland to bring crypto trading directly to its customers. Easy access and the low entry threshold of 50 US dollars for crypto saving plans and individual orders make this service particularly accessible and help democratize the crypto market for everyone.






Philipp Merkt
“Cryptocurrencies offer an additional investment option and are here to stay. The benefit is that our 2.5 million customers can now invest in cryptocurrencies easily and securely with their principal bank,”
says Philipp Merkt, Chief Investment Officer at PostFinance.
“In addition to traditional asset classes such as cash, bonds and shares, cryptocurrencies are part of a variety of attractive alternative investment options such as real estate and raw materials.”
The launch on 21 February 2024 is a milestone for PostFinance. In conjunction with the FINMA-regulated crypto bank Sygnum, PostFinance is offering its customers a clear range of cryptocurrencies with transparent and attractive prices.



Featured image credit: Edited from freepik


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			&#13;
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		]]></description><link>https://fintechnews.eu/postfinance-starts-with-new-crypto-product-offering</link><guid>3556</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>PostFinance Starts with New Crypto Product Offering</dc:text></item><item><title>Citi Collaborates to Explore Tokenization of Private Markets</title><description><![CDATA[
									
					
							
					Citi has announced that it has successfully completed a proof of concept on tokenization of private funds along with Wellington Management and WisdomTree.
The proof of concept, which was conducted on the Avalanche Spruce institutional test Subnet, found that smart-contract capabilities could deliver new functionality and operational efficiencies, which are currently unavailable with traditional assets. These new functionalities could enable buy- and sell-side institutions to engage with distributed ledger infrastructure in a low-risk, low barrier-to-entry manner that is consistent with regulations.
Private markets, although a $10 trillion asset class, are characterized by an infrastructure that is complex and manual, with a lack of standardization and transparency, leading to inefficient distribution and operations. There are often complex legal and regulatory restrictions related to private assets.






With ABN AMRO simulating the role of a traditional investor, the proof of concept tested the tokenization of a Wellington issued private equity fund by bringing it onto a distributed ledger technology (DLT) network. The underlying fund distribution rules were encoded into the smart contract and embedded in the token transferred to hypothetical WisdomTree clients. The proof of concept demonstrated how smart contracts could be used to enable greater automation and potentially create an enhanced compliance and control environment for issuers, distributors, and investors.
As part of the experiment, Citi also evaluated multiple scenarios of transfers using smart contracts relying on simulated identity credentials issued by WisdomTree and using a private fund token as collateral in an automated lending contract with DTCC Digital Assets (formerly Securrency).
By evaluating relevant technical, legal and operational frameworks needed to bring traditional assets on to a digital platform, Citi explored how to support clients issuing and accessing tokenized private assets in a controlled and scalable manner, while ensuring interoperability with the traditional ecosystem.
Nisha Surendran
“Smart contracts and blockchain technology can enable enhanced rule-enforcement at an infrastructure-level, allowing data and workflows to travel with the asset. We believe that by testing the tokenization of private assets, we are exploring the feasibility to open-up new operating models and create efficiencies for the broader market,”
stated Nisha Surendran, Emerging Solutions Lead for Citi Digital Assets.
“The Avalanche Spruce test network has proven to be an ample technical sandbox environment for coming together with partners and exploring the potential of blockchain technology within our industry. We look forward to continuing to collaborate with Citi, strong, long-term partners who are providing meaningful developments and thought leadership in the blockchain space,”
Citi continues to develop digital asset solutions, in line with its goals and risk appetite, using a unified set of shared technology capabilities and a common strategic approach. These innovative solutions enhance Citi’s products and services including digital money, trade, securities, custody, asset servicing and collateral mobility.

This article first appeared on fintechnews.am
Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/citi-collaborates-to-explore-tokenization-of-private-markets</link><guid>3554</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>Citi Collaborates to Explore Tokenization of Private Markets</dc:text></item><item><title>New Senior Management Team at Swisscom Ventures</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 16, 2024
																				





					
					
							
					Dominique Mégret, founder and head of Swisscom Ventures, will be moving to Ecorobotix per 1 March, where he will take over as CEO.
His role at Swisscom Ventures will be handed over to an established team: Stefan Kuentz, Alexander Schläpfer and Pär Lange will assume the leadership of the company as joint Managing Partners.They have been closely working together in the ventures team for years and have built it up in collaboration with Dominique. They bring with them a range of skills and experience, are extremely well connected and will lead Swisscom Ventures successfully into the future.
Dominique Mégret founded Swisscom Ventures in 2007. Since then, the division has become a key player in the Swiss startup scene and is now one of the biggest venture capital investors in Switzerland. Swisscom Ventures supports companies on their journey over several years from the start-up to the growth phase, with the aim of ensuring that they develop into sustainably successful companies. Abroad, Swisscom Ventures focus lies on new technologies with the potential to help Swiss companies and the Swiss economy to grow.






In Switzerland, Swisscom Ventures supports promising startups in order to further advance Switzerland’s digital transformation and strengthen the country’s innovative power. This means that companies like Sophia Genetics, Ecorobotix and Yokoy have been able to develop and grow.
Isa Müller-Wegner, who took over as Head of Group Strategy &amp; Business Development at Swisscom in June 2023, has various reasons to be pleased regarding the change in management at Swisscom Ventures:
“It’s wonderful that Dominique Mégret is the new CEO of Ecorobotix, a company in which Swisscom Ventures has invested in recent years. And I’m also delighted that the appointment of Alexander, Pär and Stefan ensures the continuity within the team. After all, strong partnerships, trust and having good connections in the start-up ecosystem are key success factors at Ventures. All three have been working side by side for years, have access to a large network and have supported companies such as ANYbotics, Kandou and Scandit. They recognise challenges, opportunities,trends and companies that are developing in Switzerland and abroad through digitisation and new technology.”
Swisscom Ventures relies on a team with different professional, cultural and functional backgrounds and is committed to a diverse portfolio. And the new management team brings also varying knowledge and a range of expertise to the table.
Alexander Schläpfer, MSc in Finance
Alexander Schläpfer
Before joining Swisscom Ventures in June 2016, Alexander was the co-founder and partner at Aster Capital in Paris, the corporate venture platform of Schneider Electric, Alstom and Solvay, where he managed investments in the areas of renewable energies, industrial IT and IoT. Before becoming VC, he headed the strategy, M&amp;A and S&amp;M departments at Alstom’s Power Service division, and had previously held several operational management positions in the Middle East with ABB. He also co-founded and chaired a robotics start-up at the Federal Institute of Technology (ETH) in Zurich.
His areas of focus are: robotics, Industry 4.0, edtech, fintech.
Pär Lange, MSc in Physics, MBA INSEAD
Pär Lange
Before helping to set up Swisscom Ventures in 2007, Pär was co-founder and chief executive of a Stockholm-based consultancy firm focusing on early-stage investments in the ICT sector. Before that he co-founded a mobile phone operator, which successfully obtained a 3G licence in Sweden. He started his career in Sweden by developing RF and microwave transmission solutions and then worked in sales and marketing for Ericsson in Japan.
His areas of focus are: communication, semiconductor and sensor technologies.

Stefan Kuentz, MSc in Computer Science
Stefan Kuentz
Stefan has been with Swisscom since 2003. In 2011, he joined Swisscom Ventures where his focus has been on international investments in the cloud, SaaS and cybersecurity. Stefan has held various management positions at Swisscom, including running the company’s US outpost in Silicon Valley and establishing new solution units for the B2B sector. Before joining Swisscom, Stefan was employed for many years at IBM, where he was Associate Partner in charge of IT strategy consulting.
His areas of focus are: IT, cloud, enterprise software, cybersecurity, USA ecosystem

Featured image credit: Pär Lange, Stefan Kuentz and Alexander Schläpfer


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	]]></description><link>https://fintechnews.eu/new-senior-management-team-at-swisscom-ventures</link><guid>3555</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/New-Senior-Management-Team-at-Swisscom-Ventures-1440x564_c.jpg</dc:content ><dc:text>New Senior Management Team at Swisscom Ventures</dc:text></item><item><title>Apple Claims Expanding Reach in Finance with 12M Credit Card Users and US$10B in Savings Balances</title><description><![CDATA[
									
					
							
					Apple has been steadily expanding its foothold in the financial services industry, with new data released by the company revealing more than 12 million users of its Apple Card credit card product, and US$10 billion in total balances in Apple Savings accounts.
In a new blog post published on January 30, 2024, Apple shares growth metrics for its Apple Card product, highlighting the popularity of the credit card among customers. Among the key data, Apple claims that:

Apple Card has garnered 12 million users;
In 2023, users earned over US$1 billion in Daily Cash from spending on Apple Card;
Apple Card’s Savings accounts have reached a total of US$10 billion in deposits;
The vast majority of users auto-deposit their Daily Cash into Savings, and nearly two-thirds of users have deposited additional funds from a linked bank account to their Savings account;
Nearly 30% of Apple Card users making two or more payments per month;
More than one million Apple Card users share Apple Card with their Family Sharing Group through Apple Card Family;
Nearly 600,000 users are building credit equally with their spouses, partners, or another trusted adult on Apple Card; and
Over 200,000 users have been approved for an Apple Card after enrolling in Path to Apple Card, a personalized program designed to improve a user’s financial health.








Several factors are contributing to the widespread popularity of the Apple Card among consumers. A key draw is the absence of fees, making the credit card particularly appealing to users seeking a cost-effective financial solution. Furthermore, the card’s focus on financial health is evident in its suite of tools within the Wallet app that facilitate easy tracking of purchases, spending management, and interest calculations, and which encourage users to avoid debt or pay it down quickly. Additionally, the card promises low interest rates and offers up to 3% Daily Cash rewards on every purchase, providing tangible benefits for regular usage.
Apple is continuously enhancing the Apple Card, an offering it launched in 2019 in collaboration with Goldman Sachs. In 2021, it introduced joint accounts under the Apple Card Family brand, allowing people to share their Apple Card, track purchases, manage spending, and build credit together with their Family Sharing group. This followed in 2023 with the launch of the Apple Savings account, a high-yield savings account for Apple Card users which currently offers a competitive 4.5% annual percentage yield.
In a recent interview with the Financial Brand, industry experts and observers noted Apple’s patient approach to financial services and willingness to experiment and invest upfront without immediate monetization.
Alex Johnson, consultant and creator of the Fintech Takes newsletter, told the online publication that because of Apple’s deep pockets and its all-inclusive strategy, the firm doesn’t have to monetize every single thing that it does. What doesn’t make money right away can still make the iPhone “better and slicker,” Johnson said.
Despite the success of its products, several observers criticized the “walled garden” concept of Apple. While the idea of an all-encompassing ecosystem and seamless integration might sound appealing to some, others like payments veteran Peter Davey argued it might lead to one-sided activities and resistance from traditional financial institutions due to fees and concerns over dealing with a non-bank tech giant.
Jason Mikula, consultant and publisher of Fintech Business Weekly, stressed that it was time for Apple to open the gate and permit other financial providers to introduce selected products and accounts. This “marketplace” could function like the App Store, he said, allowing Apple to collect fees for transactions going through that platform, enabling financial institutions to tap into a huge distribution network, and providing consumers with access to a wide and diverse range of financial solutions.
When asked about their predictions for what might come next for Apple, these experts said they envisioned a subscription management service, and identity verification solutions leveraging biometric technology, as next logical steps.
Johnson said that a centralized “command center” for managing subscriptions would align with Apple’s emphasis on customer care and financial well-being. Plus, Apple itself has diverse subscription offerings, ranging from cloud storage to Apple TV+, he added.
Mikula, meanwhile, emphasized the potential for identification services, noting that Apple is already working with a handful of states on digital drivers’ licenses through the Apple Wallet.
Apple has been operating in the finance market for less than a decade, and has already managed to gain a notable foothold. According to a 2023 report by Dutch consultancy and mergers and acquisitions advisory firm Flagship Advisory Partners, Apple controlled an estimated US$800 billion worth of payments in 2022.
About 3% of all Visa and Mastercard consumer card value and 10-12% of Visa and Mastercard card transactions in North America and Europe went through Apple Pay in 2022, Flagship Advisory Partners claims, making Apple a significant fintech player globally.
So far, Apple has relied on a slew of partners including Goldman Sachs, JP Morgan Chase as well as Visa and Mastercard, to process payments and offer Apple-branded consumer fintech products, but evidence suggest that the firm may be looking to reduce its dependency on third parties and banking partners.
In 2022, Apple established Apple Financial, a wholly-owned subsidiary dedicated to powering the firm’s Apple Pay Later service. That same year, a Bloomberg report revealed the company’s secret “Breakout” initiative that’s allegedly seeking to bring more financial services capabilities, including payment processing, risk and fraud analysis, credit checks, subscription programs for hardware purchases, and buy now, pay later (BNPL), in-house.
In November 2023, CNBC reported that Apple was looking to end its credit card and savings account partnership with Goldman Sachs within the next 12 to 15 months.

Featured image credit: Edited from Unsplash


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	]]></description><link>https://fintechnews.eu/apple-claims-expanding-reach-in-finance-with-12m-credit-card-users-and-us10b-in-savings-balances</link><guid>3553</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>Apple Claims Expanding Reach in Finance with 12M Credit Card Users and US$10B in Savings Balances</dc:text></item><item><title>PPRO Appoints new CCO and CMO</title><description><![CDATA[
									
					
							
					PPRO, a leading digital payment platform based in London, has announced the appointment of two senior leader.
Eelco Dettingmeijer as Chief Commercial Officer and Mariette Ferreira as Chief Marketing Officer. These strategic hires come at a time when PPRO is gearing up for a new phase of growth.
Eelco brings over a decade of experience in payments, and over two decades in international sales roles with an impressive track record of driving commercial success. He spent seven years in commercial leadership roles at global payments processor Worldpay, served on the board of Icepay, and then spent three at Nuvei.






Eelco’s leadership experience is especially focused on EMEA markets, and he is recognised for building robust teams and strategic commercial growth. As CCO, Eelco will be spearheading growth in PPRO’s key strategic markets in Europe and the US, while also expanding its merchant network worldwide.
Mariette Ferreira joins PPRO as a CMO with over 15 years of B2B marketing experience, including ten years within the fintech industry. She has helped scale businesses such as payments platform FairFX (now Equals Group) and most recently served as CMO at fintech consultancy 11:FS. Mariette is poised to deliver a marketing strategy that drives commercial success and advances PPRO’s market position.
Eelco Dettingmeijer
Eelco Dettingmeijer, CCO of PPRO said,
“PPRO is well positioned to move up the value chain and has a unique value proposition that empowers growth for both payment companies and direct merchants. The payments industry is rapidly evolving, and I look forward to leveraging my experience and network to drive PPRO into the next stage of hyper-growth. There’s a vast opportunity for PPRO to deepen relationships, double its revenue and boost commercial success by providing more and better services and products to our existing and prospective customers.”
Mariette Ferreira
Mariette Ferreira, CMO of PPRO commented,
“I am looking forward to taking PPRO to new heights from a marketing perspective. The payments landscape is continuously changing and PPRO has a fantastic opportunity to enhance its competitive offering and serve customers in new and interesting ways.”
Motie Bring
Motie Bring, CEO of PPRO added
“We’re thrilled to welcome Eelco and Mariette to PPRO. Eelco’s extensive sales expertise and Mariette’s strategic marketing insights will be instrumental in our mission to simplify access to local payments, and enable the sale of goods and services to anyone in the world using their preferred way to pay.”


Featured image credit: Eelco Dettingmeijer, CCO of PPRO and Mariette Ferreira, CMO of PPRO


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	]]></description><link>https://fintechnews.eu/ppro-appoints-new-cco-and-cmo</link><guid>3550</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>PPRO Appoints new CCO and CMO</dc:text></item><item><title>Swiss Tech Funding Falls 35% Driven by ICT, Fintech</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 15, 2024
																				





					
					
							
					In 2023, venture capital (VC) investment to Swiss tech startups fell by 35% year-on-year (YoY), a slump that was more pronounced in segments that are more mature and which require higher levels of capital, including information and communications technology (ICT) and fintech, data from the latest edition of the Swiss Venture Capital Report show.
The 2024 Swiss Venture Capital Report, produced by news portal Startupticker.ch, reveals that the investment downturn hit the ICT and the fintech sectors the hardest. In 2023, Swiss fintech companies secured a mere CHF 424.3 million in funding through 60 deals, making the sector the third biggest recipient in funding volume and deal count.
The numbers represent a 53% YoY decline in funding volume but a 11% YoY increase in deal count, suggesting that investors are shifting towards smaller-sized deals and startups at earlier stages of development. The figures are in stark contrast to 2022 numbers during which Swiss fintech companies raised US$909.9 million and 54 rounds.






Invested capital and financing rounds by sector in 2023, Source: 2024 Swiss Venture Capital Report, Startupticker.ch, Jan 2024
Fintech VC funding was cut in half in 2023 largely because of the lack of mega-rounds of CHF 100 million and up. The report also notes a slight decline in the number of growth rounds of CHF 10 million and up, which totaled 10 in 2023 against 13 in 2022. Overall, the year saw the median deal size fall from CHF 3 million in 2022 to just under CHF 2 million in 2023.
Nevertheless, Swiss fintech startups managed to secure some of the year’s largest rounds, with four fintech rounds being among 2023’s top 20 largest tech investments. These rounds were Taurus’ CHF 60.1 million Series B, the two rounds raised by Wefox of CHF 49.5 million each, and Tradeplus24’s CHF 45 million round, according to the report.
Swiss tech VC funding drops 35%
Swiss tech VC funding totaled CHF 2.6 billion in 2023, down 35% YoY. Despite the drop, the figure is still the third best value of the past decade, and represents a level that’s significantly higher than in the pre-pandemic years. In comparison, Swiss tech startups secured only CHF 2.3 billion in 2019. Furthermore, a total of 397 deals were secured in 2023, a new record for the market that reflects the dynamism of the market.
Invested capital and financing rounds of Swiss startups, Source: 2024 Swiss Venture Capital Report, Startupticker.ch, Jan 2024
Across all major segments, ICT was particularly hard hit by the VC funding downturn with only CHF 361.7 million raised by startups in the sector, down by a staggering 70% YoY from CHF 1.2 billion in 2022. For ICT rounds, the median deal size stood at a mere CHF 1.9 million in 2023, slightly lower than the CHF 2 million recorded for 2022.
Like fintech, ICT didn’t see any mega-round during 2023. The sector also recorded a massive dip in growth rounds with only four investments of CHF 10 million and up being secured during 2023, against 19 in 2022.
At the other end of the spectrum, sectors including biotech and medtech saw an increase in invested capital. VC funding to biotech startups rose by 22% to CHF 491.8 million while medtech funding increased by a staggering 41% to reach a new record of CHF 379 million. Meanwhile, although VC funding to cleantech startups witnessed a slight YoY decline in 2023, the sector rose to prominence last year, becoming the top funded tech sector in Switzerland with a share of 24% of all VC funding secured last year (CHF 630.1 million).
Invested capital and financing rounds by sector 2014-2023, Source: 2024 Swiss Venture Capital Report, Startupticker.ch, Jan 2024
The VC funding downturn in Switzerland aligns with trends observed globally. Data from KPMG’s Pulse of Fintech H2 2023 reveal that total fintech investment (US$113.7 billion) and the number of fintech deals (4,547) experienced their weakest results since 2017 amid a high interest rate environment, high inflation in many jurisdictions, and geopolitical uncertainties.
Total global funding activity (VC, PE and M and A) in fintech 2020–2023, Source: Pulse of Fintech H2 2023, KPMG, Feb 2024
A YoY decline was witnessed across all key regions with Asia-Pacific (APAC) experiencing the biggest drop, plummeting by a staggering 79% from US$51.3 billion in 2022 to just US$10.8 billion in 2023. Europe, the Middle East and Africa (EMEA) saw investment fall 51% from US$49.6 billion to US$24.5 billion over the same timeframe. The Americas showed the most resilience, with fintech investment dropping 18% from US$95.4 billion in 2022 to US$78.3 billion in 2023.
At a jurisdictional level, the US continued to maintain its dominance, attracting two-thirds of all fintech funding during 2023 (US$73.5 billion).

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/swiss-tech-funding-falls-35-driven-by-ict-fintech</link><guid>3551</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Swiss-Tech-Funding-Falls-35-Driven-by-ICT-Fintech-1440x564_c.jpg</dc:content ><dc:text>Swiss Tech Funding Falls 35% Driven by ICT, Fintech</dc:text></item><item><title>UBS Issues Hong Kong’s First Investment-Grade Tokenised Warrant on Ethereum</title><description><![CDATA[
									
					
							
					UBS has launched Hong Kong’s first investment-grade tokenised warrant, leveraging the Ethereum public blockchain. This product is part of the bank’s UBS Tokenise initiative, aimed at advancing its in-house tokenisation services.
The product is a call warrant with Xiaomi Corporation as the underlying stock. The tokenised warrant is also reportedly the first natively issued warrant on a public blockchain that was sold to OSL Digital Securities Limited, a licensed virtual asset platform operator and wholly-owned subsidiary of OSL Group (formerly BC Technology Group).
Tokenised warrants are distinguished by enhanced accessibility, efficiency, and transparency. They enable investors to access digital structured products through blockchain technology, which facilitates extended trading hours and compatibility with various platforms.






The use of smart contracts in these warrants streamlines trading and administrative operations, reduces costs, and leverages a decentralised ledger for transparent transaction and ownership records.
UBS has been exploring blockchain and digital assets since 2015, focusing on developing institutional grade infrastructure for tokenised assets.
Its efforts include the issuance of a US$50 million tokenised fixed rate note to clients in the Asia Pacific in 2022 through the UBS Tokenise platform, which caters to the origination, distribution, and custody of various financial products.
Winni Cheuk
Winni Cheuk, Head of Sales, APAC Public Distribution, UBS Global Markets said,
“The introduction of the UBS tokenised warrant reinforces the bank’s position as the leading derivative products issuer in Hong Kong.

Created natively on a public blockchain in a permissioned environment, this innovative product enhances transparency, reduces transaction fees, streamlines settlement processes, and allows for more flexible trading hours.”
Patrick Pan, Chairman and Chief Executive Officer at OSL Group said,
Patrick Pan
“We are simulating the whole product life cycle of an equity-linked structured product token, from token mint, through simulated secondary market transactions, and finally to token burn at maturity.

Hong Kong’s regulated virtual asset landscape has just crossed another major milestone with this investment grade tokenised financial product issuance.”

This article first appeared on Fintech News Hong Kong.
Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/ubs-issues-hong-kongs-first-investment-grade-tokenised-warrant-on-ethereum</link><guid>3552</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>UBS Issues Hong Kong’s First Investment-Grade Tokenised Warrant on Ethereum</dc:text></item><item><title>Forrester Report: Top Digital Wealth Management Platforms</title><description><![CDATA[
									
					
							
					The digital wealth management platform (DWMP) market has witnessed growth and development over the past years, evolving into an established industry comprising global and regional players, advanced solutions tailored to specific market needs, and increased integration of modern technologies to keep up with the pace of digital change.
To help wealth management business and technology executives make sense of this vast and diverse market, American research and advisory company Forrester Research has released a guide offering an overview of the DWMP market, outlining these platforms’ key functionalities and market focus, and spotlighting the most prominent vendors in the sector.
The digital wealth management platform (DWMP) market
The report, titled The Digital Wealth Management Platforms Landscape, Q4 2023, defines DWMPs as solutions designed to optimize client experience and advisor productivity across the investor lifecycle. These platforms include features like customizable workflows, data models, and integration with existing core and customer relationship management solutions. They also support regulatory compliance requirements, and enable a variety of use cases ranging from prospect management and financial planning, to self-service, personalized recommendations and client performance reporting and analytics.






According to the report, wealth management firms are increasingly turning to DWMPs to advance key business objectives, including revenue growth, enhanced customer experiences, and cost reduction. This is done by modernizing both the investor and financial advisor experiences and assisting financial institutions in the attraction, acquisition, and retention of customers, while simultaneously improving operational efficiencies for financial advisors. Additionally, these platforms contribute to addressing other business priorities like risk mitigation, bolstering operational resilience, and fostering innovation.
Market maturity and trends
According to Forrester, the DWMP market has experienced considerable growth and consolidation in the past 24 to 36 months as industry stakeholders pursue private equity investment opportunities and strategic acquisitions to expand their capabilities and geographic footprints.
DWMPs are also integrating modern functionalities to meet the current and future needs of wealth management firms, leveraging application programming interfaces (APIs), artificial intelligence (AI) and machine learning (ML) to differentiate from competitors and partnering with fintech startups to connect to the broader ecosystem and introduce new functionalities rapidly.
DWMPs are using intelligent automation to drive better digital experiences and operations, enabling automated and optimized workflows and improved efficiencies. They also use AI and ML to monitor investor and advisor interactions, preferences, and goals to deliver personalized financial advice.
In addition to increased adoption of advanced technologies, the report notes that the DWMP market is witnessing the growth of global and regional players. These players are tailoring their solutions specifically for their focus markets. Regional players bring regulatory compliance and geographic knowledge to help differentiate their solutions from global competitors, while global platforms have sales and customer success organizations worldwide and often have capabilities in other domains such as banking.
Prominent DWMP providers
Finally, the report spotlights notable DWMP vendors, highlighting Backbase, Envestnet, InvestCloud, SS&amp;C, Tala Consultancy Services and Temenos as prominent providers in the sector. These vendors have a global footprint, serving markets including North America, Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC).
Wealth management and retail banking are the top two targeted industries by DWMPs, though some of them appear to also be focusing on other specific markets. Prometeia, for example, targets the insurance industry in addition to wealth management; InvestCloud has a sharp focus on security and commodity brokers and exchanges; and Avaloq and Comarch are targeting the corporate and commercial banking industry.
The Digital Wealth Management Platforms Landscape, Q4 2023, Source: Forrester, Oct 2023
The wealth management sector is undergoing a profound transformation, driven by changing customer expectations and technological advancements.
A 2023 report by Bain and Company estimates that tokenization – the process of issuing a digital representation of an asset on a blockchain platform – could yield an approximately US$400 billion in annual new-revenue for asset managers and distributors by addressing address the distribution challenges facing the alternative assets industry.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/forrester-report-top-digital-wealth-management-platforms</link><guid>3548</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>Forrester Report: Top Digital Wealth Management Platforms</dc:text></item><item><title>Switzerland and Qatar Continue Collaboration Discussion About Digital and Sustainable Finance</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 9, 2024
																				





					
					
							
					The second session of the Joint Economic and Financial Committee between the Ministry of Finance of the State of Qatar and the Swiss Federal Finance Department was held recently in Doha.
Ali bin Ahmed Al Kuwari
HE Minister of Finance Ali bin Ahmed Al Kuwari chaired the Qatari side while the Swiss side was chaired by HE Federal Councillor and Head of the Federal Department of Economic Affairs, Education and Research (EAER) of Switzerland Guy Parmelin. A lineup of senior officials from government and private agencies in both countries attended the meeting.
The committee discussed a set of proposals and visions to enhance economic and investment cooperation between the two countries, where digital financing, sustainable financing, and ways of cooperation in the infrastructure sector were discussed, in addition to cooperation in the field of strategic projects related to food security and bilateral cooperation in development projects.






In the closing speech of the session HE Ali bin Ahmed Al Kuwari stressed the importance of the partnership between the two countries, stressing that the meeting is part of the State of Qatar’s commitment to constantly improve the business environment, and to enhance and strengthen bilateral relations between the two countries in the financial and economic fields of mutual benefit.
Guy Parmelin
For his part, HE Guy Parmelin underscored the goals of promoting common interests, adding that the committee contributes to formulating proposals regarding strengthening and promoting financial and economic relations between the two countries.
The convening of the Qatari-Swiss committee comes after the State of Qatar, represented by the Ministry of Finance, and the Swiss Federal Council, represented by the Federal Finance Department, signed in March 2022 a memorandum of understanding on joint cooperation to establish the joint committee concerned with the financial and economic fields with the aim of developing and enhancing relations between the two countries. Joint meetings are held alternately in the two countries.

This article first appeared on fintechnews.ae


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	]]></description><link>https://fintechnews.eu/switzerland-and-qatar-continue-collaboration-discussion-about-digital-and-sustainable-finance</link><guid>3549</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Second-Session-of-Qatar-Switzerland-Joint-Economic-and-Financial-Committee-Convened-1440x564_c.jpg</dc:content ><dc:text>Switzerland and Qatar Continue Collaboration Discussion About Digital and Sustainable Finance</dc:text></item><item><title>Despite Investment Decline, Growth and Innovation in Digital Banking Carried on in 2023</title><description><![CDATA[
									
					
							
					Despite plunging investments, the digital banking sector witnessed increased innovation and dynamism in 2023.
New neobanks were launched to address specific needs, banking incumbents introduced digital banking arms to keep up with the changing competitive landscape, and market leaders expanded their global foothold in emerging markets, a new analysis by French fintech-focused research C-Innovation reveals.
The report, released in January 19, 2024, explores the global neobanking scene, delving into the sector’s key players and their growth strategies, investigating the main trends observed in 2023 and sharing predictions about what lies ahead for the industry.






According to the report, 2023 saw funding to digital banking companies decrease substantially, plummeting by 65% from US$10.9 billion in 2022 to US$3.8 billion in 2023 amid lingering inflation, hawkish monetary policies, and supply chain disruptions. The dip is reflective of the broader pullback observed in the global fintech industry, which saw fintech investments decrease by 52% year-over-year (YoY) to US$44.9 billion.

Yearly digital banking venture capital investment (2019-2023), Source: C-Innovation, Jan 2024
Looking at regional investment trends, the analysis found that Oceania was the hardest hit, recording no digital banking investment at all, followed by North America which experienced a significant decrease of 74% in venture capital (VC) funding.
Europe and Asia showed some resilience by securing substantial funding of US$1.2 billion and US$1.1 billion, respectively. This trend was driven by strong VC investment activity in eight countries, namely Finland, Israel, Italy, Japan, Netherlands, Singapore, South Africa, and South Korea, where VC funding defied the odds and recorded an increase in funding to the digital banking segment.
Global digital banking funding in 2023, Source: C-Innovation, Jan 2024
A new wave of neobanking players
Despite the funding downturn, the C-Innovation analysis reveals that the global digital banking segment expanded in 2023 by adding more than 20 market entrants, bringing the total number of neobanks available around the world to 354.
These new players are catering to various market niches across different regions and spearheading a shift towards more accessible, inclusive and user-focused financial services.
Number of digital banks globally, Source: C-Innovation, Jan 2024
In Asia-Pacific (APAC), new market entrants are addressing specific needs by providing competitive interest rates and multi-currency accounts, and by targeting migrant populations. In Singapore, Maribank offers a highly competitive rate of 2.88% per annum for personal savings accounts, and an appealing 2.5% interest rate on business accounts. In Myanmar, Spring Development Bank lets customers enjoy the flexibility of a multi-currency account, supporting transactions in up to 10 different currencies.
In South America, innovation in the neobanking space is being largely driven by banking incumbents and traditional financial institutions, with notable examples of solutions that have hit the market over the past year or so including Bineo from Grupo Financiero Banorte in Mexico, Io from Banco de Credito (BCP) in Peru, and Itu from Itau in Chile.
Bineo aims to offer savings accounts and personal loans with seeks to add 2.8 million new clients in the next five years; Io is a digital banking offering that comes with virtual and physical Visa-backed consumer credit cards with no onboarding fees; and Itu is a digital banking venture initially offering a virtual account and a Mastercard debit card.
Other neobanks are expected to hit the South American market soon, including the Openbank digital banking service by Santander Mexico, and Hey Banco, which is backed by Banregio Grupo Financiero.
In Europe, UK-based company Sibstar launched in March 2022 a neobanking offering comprising a debit card and an app designed to help people living with dementia and their families to safely manage everyday spending. The Mastercard debit card is pre-loaded with funds, then how and where the money is spent can be managed through the Sibstar app. The app’s money management controls include spend limits, ATM, online, phone switch on/off, instant freeze, auto top up, and real time notifications which can be changed instantly and remotely.
In the realm of emerging markets, UK-based firm Fintech Farm continued to pursue its global expansion plans, launching in 2021 Leobank in Azerbaijan and opening Liobank in Vietnam in 2023. Targeting underdeveloped banking sectors and markets with large underbanked populations, Fintech Farm aims to launch neobanks in India and Nigeria this year.
Fintech Farm secured a US$22 million Series B funding round in April 2023 to fuel its growth and create user-friendly mobile apps and credit products for the underserved. The round, which comprised a combination of equity and convertible loan, valued Fintech Farm over US$100 million, according to online publication AIN.Capital.
Predictions for 2024
Looking ahead to 2024, C-Innovation expects the global digital banking landscape to continue to evolve, shaped by the interplay of traditional financial institutions, established neobanks, and new market entrants.
Traditional banks are set to continue their digital journey, focusing on refining digital transformation strategies. This may entail enhancing digital interfaces, integrating technologies like artificial intelligence (AI) and blockchain, and offering personalized financial services to retain and attract tech-savvy clients.
Established neobanks are likely to maintain or enhance their market share through agility, innovative products, and customer-centric approaches. To sustain profitability, they may expand into lending services, tapping into personal and business loan markets to diversify revenue streams.
Finally, new neobanking companies entering the market in 2024 are expected to target specific market gaps, such as underserved demographics and niche financial products. Their success will depend on their ability to differentiate themselves in an increasingly crowded market and their capacity to swiftly adapt to regulatory and economic shifts, the report says.
With VC funding drying up for tech startups, companies in the neobanking industry are shifting their priorities from rapid expansion to profitability. Data released in November 2023 by strategy consulting firm Simon-Kucher indicate that this strategy has so far paid off, with an increasing number of neobanks reaching profitability and industry revenues growing by about 43% over the past two years or so. As of October 2023, the global neobanking sector served roughly 1.1 billion clients, a figure which represents an impressive increase of more than 30% between mid-2022 and Q4 2024.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/despite-investment-decline-growth-and-innovation-in-digital-banking-carried-on-in-2023</link><guid>3546</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Bottomline-Catalyst-For-Competitive-Advantage.png</dc:content ><dc:text>Despite Investment Decline, Growth and Innovation in Digital Banking Carried on in 2023</dc:text></item><item><title>Instant Payments: Ensuring Euro Money Transfers Arrive Within 10 Seconds</title><description><![CDATA[
The new regulation aims to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers (PSPs) will have to ensure credit transfers are affordable and immediately processed. The text, already agreed with EU member states, updates the current Single Euro Payments Area (SEPA) rules.
Instant credit transfer
An instant credit transfer is supposed to be executed regardless of the day or hour and the money must arrive into the recipient’s account within ten seconds. The payer should be also informed within ten seconds of whether or not the funds transferred have been made available to the intended recipient.






Member states whose currency is not the euro will also have to apply the rules, where the accounts already offer regular transactions in euro, after a longer transition period. There will be a special derogation from making the payment within ten seconds for such accounts outside business hours, given possible concerns about access to liquidity in euro.
Customer safety, penalties and sanctions
To guarantee safety, PSPs should have in place robust and up-to-date fraud detection and prevention measures, to avoid credit transfers going into the wrong account due to fraud or error. To this end, PSPs operating in the EU should immediately, and without any additional charges or fees, provide a service to verify the identity of the recipient.
As an additional safeguard against fraud, PSPs should allow their clients to set a maximum amount for instant credit transfers in euro, which could be easily modified prior to the next transfer.
If a PSP does not fulfil its fraud prevention duties and this results in financial damage, a client may demand to be compensated by the service provider, according to the new rules.
PSPs offering instant credit transfers should also verify whether any of their clients are subject to sanctions or other restrictive measures related to money laundering and terrorist financing.
Charges stay the same
Charges applied by a PSP in respect to instant credit transfer transactions in euro cannot be higher than the charges applied to “non- instant” credit transfer transactions in euro.
Michiel Hoogeveen
Michiel Hoogeveen (ECR, NL) the lead MEP said:

“The Instant Payments Regulation marks the long-awaited modernisation of payments in the European single market. Customers can now say goodbye to the inconvenience of waiting two or three working days to access their money. We are delivering on something that people and businesses truly care about: transferring money within 10 seconds at any time of the day.”

Next steps
The text was adopted with 599 votes to 7 and 35 abstentions.
The new rules enter into force 20 days after publication in the EU Official Journal.  PSPs located in the euro area will have 9 months to be ready to receive instant credit transfers in euro and 18 months to send them.
]]></description><link>https://fintechnews.eu/instant-payments-ensuring-euro-money-transfers-arrive-within-10-seconds</link><guid>3547</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Instant Payments: Ensuring Euro Money Transfers Arrive Within 10 Seconds</dc:text></item><item><title>Core Banking Provider Tuum Grabs 25M EUR Series B Led by Commerzventures</title><description><![CDATA[
									
					
							
					Tuum, a London based core banking provider, announced that it has raised EUR25m, in a series B financing round led by CommerzVentures, with participation from Speedinvest alongside existing investors.
Tuum has expanded rapidly since signing its first client partnership in February 2019, working with banks to ease their digital transition onto cheaper, flexible systems that can free them up to develop new products and enter new verticals. The company now boasts a customer base across 10 countries, with a pronounced presence in the UK, and Nordics. Over the last three years, Tuum’s revenues have soared, demonstrating a compound annual growth rate of over 250%.
The fresh infusion of capital will bolster Tuum’s international presence, allowing it to target new territories in the DACH region, Southern Europe, and the Middle East, where it is opening a new office. The company plans to enhance its direct sales and marketing operations, while also fortifying its partner channel with key managed service relationships to amplify sales reach and implementation scalability.






The fundraise will also be used to deepen Tuum’s key competitive differentiators. The company will increase investment into its “smart migration” capabilities, which are making complex core migrations possible in as little as two months. Further investments will refine Tuum’s ‘Business Builder’, a platform designed for significant customization through configuration, providing a compelling alternative to the generic ‘one size fits all’ or ‘toolbox’ approaches of other cloud-native cores. Finally, Tuum will invest funds into expanding its comprehensive suite of modules and rich functionality, which currently include accounts, lending, payments, and card services, catering to both corporate and banking sectors.
Myles Bertrand
Commenting on the fundraise, Myles Bertrand, CEO of Tuum, said:
“I joined Tuum in the summer of last year because I saw the gap in the market for its proposition. Everyone knows that banks need to replace their aging core banking systems if they are going to successfully adapt their business models for digital banking. However, no core banking vendor has to date made core migration simple and predictable, which is what Tuum is now doing through a combination of smart migrations, a modular and functionality rich core, massive extensibility, and a broad ecosystem of partners.”
Heiko Schwender
Heiko Schwender, Managing Partner at CommerzVentures, added:
“At CommerzVentures, we have been following and investing in the core banking market for a long time. While it’s hard to break into, this is a huge, highly attractive space, with over USD15bn in annual spending. Tuum’s standout modular approach is particularly suited to today’s ever-changing environment, offering a mature, yet flexible solution to a real pain point.
Tier 2 to 5 banks around the world will have to replace their aging core systems smoothly and cost-effectively. Tuum has developed an impressively mature and differentiated offering that can help them do just this. We are delighted to be leading this series B, and we look forward to working with the Tuum team to help realize the company’s massive potential.”

Featured image credit: Myles Bertrand, CEO of Tuum


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	]]></description><link>https://fintechnews.eu/core-banking-provider-tuum-grabs-25m-eur-series-b-led-by-commerzventures</link><guid>3544</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Core Banking Provider Tuum Grabs 25M EUR Series B Led by Commerzventures</dc:text></item><item><title>Thomson Reuters Acquires Insurance Media Niche News Platform</title><description><![CDATA[
									
					
							
					Thomson Reuters Corporation, a global content and technology company, announced that it has acquired World Business Media Limited, a cross-platform, subscription-based provider of editorial coverage for the (re)insurance industry.
This acquisition is in line with Reuters strategic priority to provide must-have news and insight for new customer markets and professional verticals.
Based in London and with an additional editorial hub in New York, World Business Media Limited’s editorial team provides must-have content and insight for global professionals working within the global (re)insurance and specialty markets.






Its products include The Insurer, the go-to and digital source for news, analysis and data on the (re)insurance industry and The Insurer TV, which brings exclusive insight and intelligence on the market through video interviews, panel discussions and mini docuseries. Through its events business, The Insurer Events, World Business Media Limited provides networking opportunities through a global series of events, conferences and awards ceremonies.
The business will be operated as part of the Reuters News division of Thomson Reuters and report into Reuters Professional.
Paul Bascobert
“Reuters produces trusted, must-have content for professionals across industries and borders,”
said Paul Bascobert, President of Reuters.
“With this transaction, we are thrilled to extend that mission deeper into the insurance and reinsurance markets. By combining World Business Media Limited’s specialized expertise in these markets with the global scale and reach of Reuters, we believe we can help uncover greater growth, advantages and actionable insight for insurance professionals across the globe. We plan to invest in this business to increase its coverage and reach, and we believe we will be able to bring services of greater value to our customers in this sector.”
“As the industry undergoes rapid change, increasing regulatory complexity, and growing severity of risks, the need for context and clarity for insurance, reinsurance and adjacent professionals has never been greater,”
said Peter Hastie, Managing Director of World Business Media Limited.
“Reuters is the perfect partner to achieve just that for our customers. We anticipate that we will be able to grow our business much faster together as part of Reuters than on our own. Building from World Business Media Limited’s strong platform and expertise, Reuters global, cross-platform and trusted approach to journalism will continue to ensure that our engaged audience remains a step ahead. We are excited to see the benefits this new phase of our company will bring to them.”

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/thomson-reuters-acquires-insurance-media-niche-news-platform</link><guid>3545</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Thomson Reuters Acquires Insurance Media Niche News Platform</dc:text></item><item><title>Erste Mietkaution der Schweiz die in ETFs investiert werden kann</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						February 8, 2024
																				





					
					
							
					Ein Novum in der Schweiz: Erstmals können Schweizer Mieterinnen und Mieter ihre Mietkautionen in kostengünstige Fonds investieren, statt ihr Geld auf niedrig verzinsten Konten zu parken.
Zur Auswahl stehen 10 bewährte ETFs von führenden Anbietern wie UBS und iShares von Blackrock. Ähnlich wie bei Säule 3a Lösungen soll das angelegte Geld mit dem Markt wachsen und nebenbei eine Rendite generieren.
Möglich macht dies das Schweizer Proptech Startup Evorest.






Neben der Mietpartei kommt die Anlage auch Immobilienverwaltern und Eigentümern zugute: Die eingezahlte Kaution ist bei jeder Marktlage vollständig von Evorest garantiert. Bei steigenden Märkten erhalten Eigentümer sogar eine höhere Schadensdeckung. Für Mieterinnen und Mieter, die nicht investieren möchten, bietet Evorest ebenfalls ein herkömmliches Kautionskonto an.
Gleichzeitig digitalisiert Evorest die gesamte Customer Journey für Immobilienverwalter und Mietparteien. Während Verwalter bislang auf analoge Formulare zurückgreifen mussten, können Kautionen neu vollständig digital in wenigen Schritten eröffnet werden. Dank Wegfallen des Postwegs erspart Evorest allen Parteien wertvolle Zeit und ermöglicht die Einrichtung von Kautionen innerhalb von nur 24 Stunden.
Die von Evorest angelegten Mietkautionen werden von der Hypothekarbank Lenzburg verwaltet. Dafür nutzt das Startup die innovative Open Banking Schnittstelle des Schweizer Bankdienstleisters.

Auf dem Foto v.l.n.r: Felix Graule (Evorest), Marc Schuster (Evorest), Gianluca Cottiati (Evorest), Manuela Spillmann (GL-Mitglied Hypothekarbank Lenzburg, Direktorin des Bereichs Services)


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		]]></description><link>https://fintechnews.eu/erste-mietkaution-der-schweiz-die-in-etfs-investiert-werden-kann</link><guid>3543</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Evorest-eroffnet-die-erste-digitale-investierte-Mietkaution-der-Schweiz-1440x564_c.jpg</dc:content ><dc:text>Erste Mietkaution der Schweiz die in ETFs investiert werden kann</dc:text></item><item><title>Swiss Fintech Trade Group Details Vision of “Tokenized Finance”</title><description><![CDATA[
									
					
							
					A new paper by industry trade group Swiss Fintech Innovations (SFTI) shares the association’s forward looking vision for the coming ten years in the digital asset industry, exploring the concept of “tokenized finance” and detailing ways and recommendations to create a financial system that’s more inclusive, transparent and efficient than the traditional financial system.
The SFTI paper, titled “Vision of Tokenized Finance”, investigates the idea of a tokenized financial system, putting forward the idea of a new infrastructure for the financial services industry, platforms and applications that allow for the creation and exchange of products based on digital assets, including tokenized shares, stablecoins, central bank digital currencies (CBDCs), staked cryptocurrencies and non-fungible tokens (NFTs). This system, the report says, promises faster and cheaper transactions, greater transparency, and more accessibility for people who are currently underserved by the traditional financial system.
Tokenization ecosystem
SFTI’s vision of tokenized finance
Tokenized finance involves the use of digital tokens on decentralized or distributed ledger technology (DLT), commonly known as blockchain. Tokenized finance is similar to decentralized finance (DeFi) in that it runs on blockchain platforms and makes use of smart contracts. However, it defers from DeFi in that tokenized finance can involve intermediary functions or parties at certain interaction points in the ecosystem.






The report outlines the main elements of its tokenized finance vision, starting with issuing tokenized assets, addressing custody and safekeeping, and progressing to trading, payment, lending, and staking.
In tokenized finance, assets would be issued on various blockchain-based business networks. These networks would interconnected, facilitating streamlined processes with intermediaries offering specialized token-enabled services. In terms of custody and safekeeping, investors would have the freedom to choose between two main options: self-custody or custody with a regulated party.
The SFTI also emphasizes the importance of reliable means of payment for the future development of DLT. In particular, the organization foresees the emergence of stablecoins pegged to local currencies, and expects these stablecoins to be fully interoperable with various blockchain protocols. Alongside stablecoins, retail CBDCs are also set to play a role in the broader adoption of tokenized finance.
The trading landscape in Switzerland is also poised to undergo significant transformations through blockchain enablement. These developments are expected to include the emergence of new-generation exchanges built on blockchain infrastructure, the availability of atomic settlements, greater integration between traditional finance and digital assets and the advent of hybrid trading platforms.
The SFTI also anticipates an increase in the demand for cryptocurrency lending services as crypto gains broader acceptance and mainstream adoption. This will prompt traditional banks to join the crypto lending space. Several financial institutions, including Swissquote and Julius Baer, have already started exploring or integrating crypto lending services, a trend which SFTI expects will accelerate as crypto becomes more integrated into the global financial system.
Prerequisites for tokenized finance
After providing the main elements of tokenized finance, the report gives contextual elements and prerequisites to achieve the vision.
In particular, it notes that proper regulation is crucial in shaping and adapting to the challenges associated with tokenized finance. These regulatory frameworks should address concerns such as fraud, market manipulation, money laundering, and cybersecurity, and should focus on establishing trust in these emerging ecosystems.
A strong and secure digital identity and know-your-customer (KYC) foundation is another prerequisite to tokenized finance. This foundation should enable smooth transfer of tokenized digital assets, and should focus on streamlining client due diligence, identification and verification process, allowing both individuals and businesses to easily onboard onto different platforms.
In the current scenario, client due diligence processes are primarily non-digital, lacking common standards, and are often repeated at various institutions.
The vision for KYC and digital identity in tokenized finance involves a solution where clients would possess their own self-sovereign identity based on a recognized electronic identification. This identity would be connected to various DLT systems, giving clients control over their identification data in a tokenized format. Clients would be responsible for managing and updating their data, and would be able to decide which institution is allowed to access specific details and for what purpose. This information would be securely linked to DLT systems in compliance with data protection regulations, accessible only by the data owner and temporarily by associated institutions, with transparent access logs.
Cyber and token security is another critical issue to address. In this context, the focus should be on implementing robust security measures to protect clients’ digital assets and ensure that only authorized parties can access and transfer tokenized assets. These measures should prevent misuse, enable clear identification of asset ownership and be user-friendly for clients.
The SFTI’s envisioned solution for digital asset safeguarding encompasses a number of best practices. First, the solution should give clients full control over who can access and view their assets. Private keys should be stored securely and linked to a client by a financial institution or an intermediary of the client’s choice. And assets kept during a prolonged period of time should be moved to a cold storage, reducing exposure to potential cyber threats. Lastly, enhanced insurance coverage should be provided by custody providers to address concerns related to potential losses stemming from cybersecurity breaches or operational interruptions.
In recent years, Switzerland has taken significant strides to establish itself as a global leader in blockchain technology and tokenization. Notable initiatives include the creation of the Crypto Valley, an area in the canton of Zug known for its concentration of crypto and blockchain-related businesses, startups and organizations, as well as the implementation of a regulatory framework known as the “DLT Act”.
The legislation, which came into force in August, 2021, provides legal certainty for businesses and individuals engaging in activities related to DLT activities, allows for the tokenization of traditional securities, and imposes anti-money laundering (AML) and KYC obligations to entities operating in the blockchain space, among other things.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/swiss-fintech-trade-group-details-vision-of-tokenized-finance</link><guid>3542</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Tokenization-ecosystem-1024x842.png</dc:content ><dc:text>Swiss Fintech Trade Group Details Vision of “Tokenized Finance”</dc:text></item><item><title>Swiss Regtech Pioneer Apiax Releases AI Policy Assistant</title><description><![CDATA[
									
					
							
					Apiax has launched a new compliance solution today, aiming to enhance operational efficiency and the accuracy of policy searches.
The solution is a synthesis of Apiax’s compliance expertise, rule-based technology, and Generative AI, creating a new standard for financial institutions in accessing and verifying company policy details with ease.
Apiax, a leading provider of embedded compliance solutions for the financial industry, released its AI Policy Assistant , an innovative Generative AI-driven solution transforming compliance policies into dynamic conversations. Based on Microsoft’s Azure OpenAI services, the solution offers instant, precise, and verified answers to policy queries, ensuring governance is maintained anytime through its robust verification layer. It seamlessly integrates with the existing rules-based solution, enhancing decision-making efficiency without compromising compliance standards.






Nicolas Blanchard
“We developed the AI Policy Assistant with the expertise gained from serving multiple global financial institutions. The solution doesn’t compromise on control and transparency and is fully integrated into our comprehensive compliance workbench, ready to tackle complex and multi-faceted policy frameworks,”
said Nicolas Blanchard, Chief Product Officer at Apiax.
“Being part of the Microsoft for Startups Program accelerated our innovation process massively by leveraging the extensive resources and expertise of Microsoft.”
René Huerlimann
“Working closely with numerous financial institutions in Switzerland and all over the world, we see our customers’ need to deliver precise and accurate policy answers, while maintaining strict institutional governance. In this landscape, Apiax is providing an innovative generative AI solution,”
says René Huerlimann, Director Solution Sales at Microsoft Switzerland.
“Their competitive AI policy assistant is integrating proprietary rule-based frameworks with the Azure OpenAI Service hosted in our Swiss datacenters, while ensuring rigid compliance oversight.”



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	]]></description><link>https://fintechnews.eu/swiss-regtech-pioneer-apiax-releases-ai-policy-assistant</link><guid>3541</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Swiss Regtech Pioneer Apiax Releases AI Policy Assistant</dc:text></item><item><title>Cembra digitalisiert Sparprodukte mit Finstar-Technologie</title><description><![CDATA[
									
					
							
					Sparkonti und Kassenobligationen bietet Cembra neu digital an. Die Bank nutzt dafür die Technologie der Open-Banking-Plattform Finstar.
Zudem unterstützt die Hypothekarbank Lenzburg Cembra bei Servicedienstleistungen für die Kundenbetreuung.
Die Eröffnung eines Sparkontos oder die Zeichnung einer Kassenobligation erfolgt bei Cembra neu auf digitalem Weg. Die börsenkotierte Schweizer Bank hat zu diesem Zweck Softwaremodule der Open-Banking-Plattform Finstar in ihr Banksystem integriert. Dies haben die Hypothekarbank Lenzburg und Cembra heute bekannt gegeben.






Damit können neue Kundinnen und Kunden ab sofort ein Sparkonto bei Cembra digital eröffnen und auf Wunsch auch in Kassenobligationen mit Laufzeiten von zwei bis zehn Jahren investieren.
Patrick Vogt
«Dank unserer offenen Architektur und den vielfältigen Schnittstellen konnten wir unsere Lösung innert kurzer Zeit auf Cembra anpassen und mit ihren existierenden Systemen verbinden»,
sagt Patrick Vogt, Leiter Finstar Professional Services.
Modulare Integration von Banking-Services
Die Implementierung der neuen Module bei Cembra hat Finstar in der zweiten Hälfte des vergangenen Jahres umgesetzt. Die Open-Banking-Plattform Finstar verfügt über eine offene Schnittstellenarchitektur mit über 300 Endpunkten für zahlreiche Banking-Services. Die einzelnen Services können modular in die Systeme von Drittbanken oder Fintech-Unternehmen integriert werden.
«Mit dem Cembra-Case haben wir eine modulare Integration in Rekordtempo realisiert»,
sagt Vogt.
Manuela Spillmann
Im Rahmen der Zusammenarbeit mit Cembra unterstützt die Hypothekarbank Lenzburg zudem bei Zahlungsverkehrs- und Kundenbetreuungsaufgaben.
«Wir freuen uns auf eine erfolgreiche Kooperation mit Cembra»,
sagt Manuela Spillmann, Bereichsleiterin Services der Hypothekarbank Lenzburg.



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		]]></description><link>https://fintechnews.eu/cembra-digitalisiert-sparprodukte-mit-finstar-technologie</link><guid>3540</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Cembra digitalisiert Sparprodukte mit Finstar-Technologie</dc:text></item><item><title>Higher Fintech Presence Causes Heightened Risk-Taking Among Banking Incumbents</title><description><![CDATA[
									
					
							
					A new study by the International Monetary Fund (IMF) has established a link between the prominence of fintech and the level of risk financial institutions are willing to take, revealing that greater fintech presence is associated with heightened risk-taking by incumbents. This result indicates that high fintech penetration and competition are eroding the market power of traditional banks, their profit margins and their franchise value, subsequently encouraging incumbents to take greater risks in a bid to maintain their market position and profitability.
The study, released on January 26, 2024, used a curated database covering over 10,000 financial institutions and global fintech activities to investigate how fintech activities influence risk-taking by financial institutions.
Findings reveal that fintech companies are putting pressure on traditional financial institutions, a threat which incumbents are responding to by taking greater risks. These findings have notable policy implications, the report says, and highlight that the combination of robust institutions and well-defined policy frameworks is crucial for harnessing the benefits of expanding fintech activities while maintaining financial stability.






Impact varies across fintech and bank types
Delving deeper into the results, the study found that the impact of fintech varies between distinct fintech business models on different types of traditional financial institutions.
For example, commercial banks were found to be the most negatively impacted by fintech companies operating under a balance sheet lending model. Fintech companies operating under this model provide credit and manage the entire loan process, making them direct competitors to commercial banks.
In contrast, commercial banks were found to be positively impacted by fintech companies running peer-to-peer (P2P) lending activities, suggesting that larger banking players are benefitting from partnerships with P2P lenders.
On the other hand, the profitability of cooperative banks was found to be the most negatively impacted by P2P models. This may be because P2P lenders, which allow people to lend or borrow money from one another without going through a bank, are targeting underserved or less creditworthy borrowers, a key target of cooperative banks. These innovative players are more efficient in serving the needs of these demographics, leveraging alternative data and advanced technology to more quickly and efficiently evaluate creditworthiness. They are also better equipped to swiftly adapt to changing market conditions and are known for providing superior customer experiences.
In contrast, cooperative banks may find it difficult to afford the necessary IT investments to meet customer expectations, particularly among younger generations who are more inclined to use digital banking services and may not have strong attachments to community-oriented institutions.
For both commercial banks and cooperative banks, the report says that a key factor linked to increased risk-taking among banks may be the deterioration of their profitability. As fintech companies enter the financial landscape, they introduce new competitive pressures, forcing incumbents to take on more risks in an effort to maintain their financial performance, it says.
These results indicate a policy trade-off concerning fintech activities. While certain regulatory and supervisory measures can lead to reduced risk-taking as fintech companies expand, other measures, such as restrictions on bank activities, may prompt increased risk-taking. Hence, striking the right balance between regulatory stringency and supervisory intrusiveness is crucial to reap the benefits of fintech while maintaining financial stability, the report says, and in this context, employing multiple supervisory approaches may aid in managing this trade-off.
A threat to banking incumbents
Results of the IMF study are consistent with a prior research conducted by the organization last year. The “Is Fintech Eating the Bank’s Lunch?” study, released in December 2023, explored the impact of fintech on traditional financial institutions, uncovering that the rise of fintech is negatively affecting the profitability of incumbents.
Effect of fintech on bank performance measures, Source: Is Fintech Eating the Bank’s Lunch?, International Monetary Fund, Nov 2023
Specifically, the study found that as fintech transaction volumes increase, there is a corresponding reduction in return on equity and return on assets for incumbent financial institutions. The heightened competition in the lending market and increased costs are identified as the primary drivers of this negative impact on profitability.
The research also delved into the impact of different fintech business models. Cooperative banks, compared to larger commercial banks, were found to experience greater profit deterioration from P2P lending and balance sheet lending. Commercial banks, on the other hand, were less affected by fintech, potentially due to their larger size and wider geographical reach.
Overall, incumbents with a lower risk profile tended to be more prone to a decline in profitability due to fintech competition.

Featured image credit: freepik


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	]]></description><link>https://fintechnews.eu/higher-fintech-presence-causes-heightened-risk-taking-among-banking-incumbents</link><guid>3539</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Higher Fintech Presence Causes Heightened Risk-Taking Among Banking Incumbents</dc:text></item><item><title>Giesecke+Devrient Steps Up Stake Ownership in Netcetera to 95%</title><description><![CDATA[
									
					
							
					Giesecke+Devrient (G+D), headquartered in Munich, has increased its ownership in the software firm Netcetera to 95%. This move, completed in January 2024, marks a strategic enhancement of G+D‘s offerings in digital payment and banking solutions.
Building on its initial announcement in December 2022 to double its stake in Netcetera from 30% to 60%, G+D has been steadily expanding its ownership in the company.
This move aligns with G+D’s ongoing strategy to invest in innovative digital technologies, aiming to strengthen its footprint in the digital finance sector.






Netcetera, known for its extensive suite of digital products and services for financial platforms, provides a range of solutions including web and mobile banking, financial advising, digital wallets, e-commerce, and services for commercial banks and financial service providers.
Netcetera’s digital offerings complements and supplements G+D’s product portfolio in the financial platforms business.
Ralf Wintergerst
“Digital banking and payments are strategic target markets in which we will continue to grow. Acquisitions, investments and partnerships play a key role in this, both now and in the future.

Our investment in Netcetera underlines this goal and is a good example of the way in which G+D is successfully implementing its growth strategy and digital transformation.”
said Ralf Wintergerst, Group CEO of Giesecke+Devrient.
Carsten Wengel
“We are pleased to be part of the G+D Group and to benefit from its global presence. As the market leader for software solutions in the DACH region, we are excellently positioned and strengthen G+D’s digital portfolio.
We will continue to expand our leading role internationally and continue to provide our customers with innovative and scalable digital solutions in the future,”
adds Carsten Wengel, CEO of Netcetera.


This article first appeared on fintechnews.sg
Featured image credit: Ralf Wintergerst, Group CEO of Giesecke+Devrient and Carsten Wengel, CEO of Netcetera.  Edited from Freepik


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	]]></description><link>https://fintechnews.eu/gieseckedevrient-steps-up-stake-ownership-in-netcetera-to-95</link><guid>3538</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Giesecke+Devrient Steps Up Stake Ownership in Netcetera to 95%</dc:text></item><item><title>Spain Business Banking Poised for Digital Transformation</title><description><![CDATA[
									
					
							
					The Spanish banking sector is poised for significant progress in the area of digital banking, a growth which will be driven by increased innovation in the business banking category, the introduction of the “Ley Crea y Crece” law, and the advent of foreign digital banking leaders in the market, a new analysis by French fintech-focused research reveals.
The report, released on January 09, 2024, explores the growth of the Spanish digital banking scene, delving into the sector’s key players and their growth strategies, and sharing predictions about what lies ahead for the sector.
According to the report, Spain has witnessed considerable growth in digital banking, a sector that currently boasts 28 players encompassing digital outlets launched by incumbent banks, domestic pure-players and global digital banking leaders. These players have captured a remarkable user base exceeding 15 millions by providing intuitive and user-friendly app experiences, streamlined services, and continuous innovation in app functionality.






Looking at the state of digital banking in Spanish, the report says that innovation in Spain has mostly focused on the retail segment, leaving the business segment largely untapped. This year onwards, C-Innovation expects Spanish digital banks to build upon the innovation in retail banking to deepen their penetration in the business banking segment. Harnessing Spain’s embracement of fintech, these players will expand their product offerings and help create a diverse digital banking ecosystem.
The report highlights the introduction of the “Ley Crea y Crece” (Business Creation and Growth Law) as a critical driver of business banking innovation.
“Ley Crea y Crece”, which was approved by the Congress of Deputies in September 2022, is a new regulation designed to facilitate the creation of companies, reduce regulatory obstacles and promote business growth and expansion. Among its key provisions, the law generalizes the use of electronic invoices, establishes measures to combat late payments in commercial operations, and promotes alternative financing by encouraging mechanisms such as crowdfunding, collective investment or venture capital (VC).
The law also removes previous restrictions on the types of banking services non-traditional entities can offer, inviting digital banks to serve the demands of small and medium-sized enterprises (SMEs) and fostering a more competitive banking environment.
These provisions are paving the foundation for neobanks to expand and offer a wider spectrum of services, the report says, delivering promising prospects for expansion and evolution in the years ahead.
The business digital banking sector in Spain is currently underdeveloped. While domestic digital-only banks including Imagin Bank, Rebellion and bnext, have established a successful presence in retail banking, these players have relatively modest value propositions for their business offerings compared to their European counterparts such as Boursorama and Hello bank!, both from France, Fineco Bank from Italy, as well as Starling Bank from the UK.
The report notes that France’s business finance management provider Qonto has already taken advantage of the new “Ley Crea y Crece” regulation to expand its services to areas once monopolized by incumbents, offering a broader array of services that appeal to SMEs seeking agility, efficiency, and user-focused banking solutions.
Extension of business banking product offering by European digital players, Source: C-Innovation, Jan 2024
Spain’s digital banking landscape
Spain has witnessed rapid growth of its digital banking sector, though this growth has been largely driven by traditional banks. Imagin Bank, a subsidiary of CaixaBank, currently leads the market, providing some 4.2 million customers with a comprehensive digital offering that aligns with the convenience-oriented demands of modern consumers. The figure gives Imagin Bank a 28% market share in Spain.
Imagin Bank operates as a mobile-only bank, offering a banking experience tailored to a younger, tech-savvy demographic. The bank’s services extend beyond traditional banking, integrating lifestyle and e-commerce features such as discounts on entertainment, travel, and technology, to serve as a lifestyle hub.
Standing at the second most-popular digital bank in Spain is Fintonic. The neobanking startup, which focuses on personal finance management, has carved out a niche in the domestic market by offering a centralized platform for users to manage their finances, track spending, and aggregate accounts from different banks. This strategy has allowed it to attract 2.8 million customers in Spain, representing a 19% market share.
At the third position and with 2 million customers is WiZink. Owned by investment firm Varde Partners, WiZink caters to the credit segment of the market, specializing in flexible credit options and competitive savings products. The platform holds a 13% market share.
Openbank, the digital banking arm of the Santander Group, boasts 1.7 million customers, making it the fourth largest digital bank in Spain with a 11% market share. Openbank offers a full range of banking services from standard checking and savings accounts to investment and lending products.
In addition to homegrown brands and players, Spain is also witnessing the advent of global digital banking leaders. Names such as Revolut from the UK and N26 from Germany are gaining traction in the country, now boasting a combined 3 million customers, which represents a remarkable 20% market share.
These companies have been aggressively expanding their footprint in Spanish market, the report says, focusing on developing appealing suites of services encompassing products such as remunerated accounts, small consumer loans, and the integration of popular domestic payment methods such as Bizum.
Spain’s digital-only banks, Source: C-Innovation, Jan 2024


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/spain-business-banking-poised-for-digital-transformation</link><guid>3537</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Spain Business Banking Poised for Digital Transformation</dc:text></item><item><title>Fintech on the Rise in Uzbekistan: A Short Overview</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 31, 2024
																				





					
					
							
					Fintech is experiencing rapid growth in Uzbekistan, playing a pivotal role in improving financial inclusion, driving digital transformation, and contributing to economic development. But despite the growth, the domestic fintech sector remains small and nascent, presenting opportunities for players to tap into, a new report by Mastercard says.
The report, titled “Fintech Market Uzbekistan” and released in December 2023, provides a comprehensive analysis of the Uzbekistan fintech market, offering insights into the trends, challenges, regulatory environment, key ecosystem players and emerging fintech startups.
According to the report, fintech adoption in Uzbekistan has accelerated over the past years, owing to the development of digital infrastructure in the country, including internet and mobile services. This trend accelerated at the COVID-19 pandemic, which fueled demand for remote access to financial and banking.






Evidence of this is the significant expansion of digital payments and the development of digital wallets. Between 2020 and 2022, the volume of transactions through QR-online systems grew by a remarkable 119% average annual growth rate. Total value skyrocketed by a staggering 1,500% during the period.
Transactions through QR-online system, Source: Fintech Market Uzbekistan, Mastercard, Dec 2023
Remote banking has also experienced significant growth, revealing untapped opportunities for enhancing financial services. In 2018, only 8 million people out of the country’s 32 million population used remote transactions, a number that rose to 30 million in 2022 and which implies an annual growth rate of 30% between 2018 and 2022. Total POS transaction value, meanwhile, grew by 56% between 2021 and 2022, reaching US$14 billion, reflecting the shift to digital payments and cashless transactions.
Remote and POS-terminal transactions, Source: Fintech Market Uzbekistan, Mastercard, Dec 2023
The Mastercard report identifies several critical trends driving the growth of fintech in Uzbekistan. It notes that the government is actively promoting financial inclusion and working on establishing a conducive foundation for fintech to strive. Recent developments in this regard include a banking reform strategy for 2020-2025 which has spurred the entry of foreign entities and prompted local banks to diversify their loan and deposit portfolios, and develop newl products, deposits, loans and other commission-based products to attract new customers and enhance experiences.
The rise of fintech in Uzbekistan has also been fueled by increased investment in the country’s startup ecosystem. From 2022 to 2023, venture capital (VC) funding in domestic startups totaled US$7.1 million, with 61% of that amount going towards fintech companies.
According to the report, notable fintech rounds secured during that period include a US$3 million round raised by banking infrastructure provider Iman, US$650,000 secured by Billz, a startup that provides easy-to-use tools for retail management; and US$250,000 secured by Zypl.ai, a credit scoring startup.
Uzbekistan venture capital deals by sectors, Source: Fintech Market Uzbekistan, Mastercard, Dec 2023
Uzbekistan’s fintech ecosystem
A fintech landscape map produced by Mastercard as part of the report reveals a dynamic and diverse Uzbek fintech ecosystem. This ecosystem comprises a number of segments including payment, mobile banking, buy now, pay later (BNPL), wealthtech and blockchain, as well as various stakeholders such as industry trade groups, international organizations, startup programs and VC firms.
Uzbekistan fintech ecosystem map, Source: Fintech Market Uzbekistan, Mastercard, Dec 2023
The report also delves into specific fintech trends shaping the landscape in Uzbekistan. Notably, the rise of digital payments is driven by the government’s commitment to financial inclusion and is being fueled by the slow pace of bank digitalization. Notable players in the space include payment company Click, digital services ecosystem Uzum, and online payment service Payme.
Simultaneously, neobanking is experiencing significant growth, serving both individuals and businesses. Digital bank Anorbank, for example, offers a mobile app that facilitates a diverse range of online payments for various services including online card ordering, online credit application and approval, and online deposit account opening. Multibank, a neobanking company, provides a digital solution for micro, small and medium-sized enterprises (SMEs) encompassing banking services, electronic document management and invoicing.
Another key trend outlined in the report is the growing popularity of BNPL services which have become a significant catalyst for e-commerce, offering Sharia-compliant options and swift online installment approvals. Popular options in Uzbekistan include halal installment service Uzum Nasiya, which boasted more than 350,000 customers in April 2023, and ZoodPay BNPL, a product launched in 2019 as part of the Zood digital ecosystem.
Finally, in the digital lending segment, companies like ZoodPay are filling the gap left by traditional institutions, offering digital consumer lending services, while Oasis Microcredit is contributing to the fintech ecosystem by providing SME lending opportunities.
The report also puts the spotlight on rising Uzbek fintech stars, emphasizing the growth of Zood, an ecosystem that combines an e-commerce lending platform (ZoodPay), a marketplace (ZoodMall), delivery and logistics services (ZoodShip), and a digital bank; Marta, a startup that provides mobile acquiring services for small businesses; Billz, an all-in-one store management automatization solutions for companies in retail business; Iman, a digital investment and financing startup; and Sug’urta Bozor, an insurance marketplace.
The Mastercard report concludes that while the Uzbek fintech sector is still small and nascent, the landscape presents numerous opportunities for both local and international players to contribute to the evolution of the country’s financial services sector. This growth will be supported by strategic government initiatives, a conducive regulatory environment and the presence of a burgeoning ecosystem of startups.

Featured image credit: edited from Unsplash


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	]]></description><link>https://fintechnews.eu/fintech-on-the-rise-in-uzbekistan-a-short-overview</link><guid>3536</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Fintech-on-the-Rise-in-Uzbekistan-Fueled-by-Increased-Customer-Adoption-Government-Initiatives-1440x564_c.jpg</dc:content ><dc:text>Fintech on the Rise in Uzbekistan: A Short Overview</dc:text></item><item><title>Schweizer Wettbewerb für Finanzwissen Startet</title><description><![CDATA[
									
					
							
					Am 1. Februar startet der Investitionswettbewerb ‘Switzerland for Financial Literacy’, der von der Finanzplattform UMushroom organisiert wird. Der Wettbewerb richtet sich an alle Personen ab 18 Jahren mit Wohnsitz in der Schweiz und zielt darauf ab, das Verständnis für die wichtigsten Finanzkonzepte und die Entwicklung von Anlagekompetenzen zu fördern.
Swissquote ist Hauptpartnerin und die Zürcher Kantonalbank (ZKB) wichtige Unterstützerin.







Luba Schönig
Luba Schönig, Mitgründerin von UMushroom, erklärt:
«Beim Investment Contest ‘Switzerland for Financial Literacy’ geht es nicht nur um Performance, sondern auch um den Erwerb von Finanzwissen. Deshalb können auch Personen mit wenig Anlageerfahrung teilnehmen.»
Der Wettbewerb findet vom 1. Februar bis am 24. April 2024 statt. Die Teilnehmenden können spielerisch, ohne echtes Geld einzusetzen, Wertschriften handeln, Finanzaufgaben lösen und Preise gewinnen. Nach der Anmeldung über UMushroom erstellen sie ein Portfolio und fügen es der Wettbewerbsgruppe hinzu.
Wer eine Meilenstein-Aktivität abschliesst, wird nicht nur mit Wettbewerbspunkten, sondern auch mit wertvollen Tipps für die weitere Investitionsreise belohnt. Die Teilnahme ist kostenlos und kann jederzeit erfolgen; ein späterer Einstieg reduziert jedoch die Anzahl Punkte, die bis zum 24. April 2024 gesammelt werden können.
Nach Abschluss des Contests wird eine Jury, bestehend aus Vertretern von Swissquote, der Zürcher Kantonalbank (ZKB) und der Universität Zürich, die Gewinnenden anhand verschiedener Kriterien ermitteln: Performance (Swissquote), Diversifikation (ZKB) sowie Portfolio- und Strategiedokumentation (Universität Zürich).
Weitere Partner sind Invesco, ViCAFE, Faulhaber Marketing und verschiedene Schweizer Luxushotels. Auf die besten Teilnehmenden des Wettbewerbs warten attraktive Preise, darunter zwei VIP-Tickets für das Europa League Finale 2024 in Dublin, ein ZKB-Fondsportfolio im Wert von 10 000 Franken, ein Barista-Workshop bei ViCAFE, und viele weitere.


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	]]></description><link>https://fintechnews.eu/schweizer-wettbewerb-fur-finanzwissen-startet</link><guid>3535</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>Schweizer Wettbewerb für Finanzwissen Startet</dc:text></item><item><title>Top 20 Fintech Events to Attend in Europe in H1 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 30, 2024
																				





					
					
							
					The European fintech industry witnessed a considerable pullback in 2023, with fintech investment declining by a significant 70% year-on-year in the first half of 2023 to reach a mere EUR 4.6 billion, according to a report by Finch Capital.
This drop was due to fewer large investment rounds, reduced participation from American investors, and a return to basic investment principles. The report highlighted a 48% decrease in the number of deals, with the top 20 funding rounds making up a larger share of the total volume, signaling a preference for more established fintech companies.
But despite the funding downturn, fintech in Europe continued to develop in 2023, especially in segments including business-to-business (B2B) fintech, regtech and artificial intelligence (AI), the report notes. Additionally, the key focus on building profitable businesses with sustainable valuations is expected to generate economic value for all stakeholders in the upcoming phase of fintech development.






In the fast-paced world of fintech, key events are being organized across the continent to offer industry stakeholders with the opportunity to witness, engage, and stay abreast of the latest trends. Today we look at the top twenty fintech events taking place in Europe in the first half of 2024, focusing on large-scale gatherings that are set to bring together some of the industry’s biggest innovators and decision-makers.
Vision Bank – Vision Swiss Financial Center #21 Build on Stability
February 01, 2024
SIX Convention Point, ConventionPoint, Zurich

On February 1, 2024, Finanz und Wirtschaft will be hosting the “Vision Bank – Vision Swiss Financial Center #21 Build on Stability” event, a gathering aimed at addressing the numerous challenges currently facing the Swiss financial center, including war, inflation, the interest rate environment, and pervasive uncertainties that are testing its resilience and adaptability.
The event will seek to underscore the importance of stability and security in navigating the turbulent financial landscape. Participants will explore how to guarantee these advantages amidst a backdrop of change and innovation, ensuring stable framework conditions and planning security during times of crisis. The role of a diversified banking landscape for success will be examined, along with an exploration of the motivations and needs of the customer of the future, and the readiness of financial providers to meet those demands. Additionally, the event will analyze the strategic roles of foreign banks currently operating aggressively.
Confirmed speakers for the event include:

Marc Pictet, Pictet;
wan Deplazes, AMAS and Zürcher Kantonalbank;
Patrick Frost, Swiss Life;
Hansruedi Köng, PostFinance;
Zeno Staub, Vontobel;
Roman Studer, Swiss Bankers Association;
Laurent Gagnebin, Rothschild and Co Bank AG;
Dr. Mara Harvey, VP Bank (Switzerland) AG;
Enna Pariset, BNP Paribas (Suisse) SA;
Marc Steinkat, Commerzbank Switzerland; and
Moderation: Reto Jauch, Schulthess Zimmermann and Jauch.

Swiss WealthTech Live 2024
February 06, 2024
SIX ConventionPoint, Zurich

Organized by The Wealth Mosaic, Swiss WealthTech Live 2024 will take place on February 06 at the SIX ConventionPoint in Zurich. The event aims to provide valuable insights into wealthtech and fintech within the Swiss and international wealth management sectors.
The conference will cover the most pressing topics of the moment, while engaging market participants from private banks, cantonal banks, external asset managers, family offices, technology vendors, consultants, and more, to express their views, experiences and vision for the future.
Throughout the day, attendees will have the opportunity to engage in presentations, panels, interviews, pitches, and networking sessions. The mixture of these formats aims to facilitate an enriching experience for participants, allowing them to gain insights, share knowledge, and discuss the current state and future trajectory of the wealth management sector.
Access to the event is limited and operates on a first-come, first-served basis. Attendees are encouraged to secure their tickets promptly. The event is free for wealth manager employees, while vendors can refer to specific ticketing options and pricing for attendance.
Frankfurt Digital Finance
February 07 – 08, 2024
Gesellschaftshaus Palmengarten, Frankfurt, Germany

The Frankfurt Digital Finance conference, scheduled for February 07 and 08, 2024, will take place at Gesellschaftshaus Palmengarten in Frankfurt.
The event, spanning two days, will feature a diverse range of activities. On day one, top executives, entrepreneurs, investors, academics, and policy makers will convene to discuss pivotal topics that are shaping the future of the financial industry.
Day two will be dedicated to the Frankfurt Digital Finance’s inaugural European Fintech Day. The event will assemble best-in class fintechs across different verticals representing Europe’s top digital finance hubs and connect them directly with potential clients, co-innovation partners and venture capital (VC) investors.
The conference will cover a spectrum of essential topics transforming the industry, including the environmental, social and governance (ESG) transformation in European finance, fintech funding and investment, regulation and supervision, cryptocurrency, decentralized finance (DeFi) and tokenization, payments, the digital euro, open banking and open finance, and generative artificial intelligence (AI).
Participants will get to broaden their connections, share ideas, and establish potential business partnerships. Attendees can expect two days filled with high-quality content, including keynotes, panels, and interactive workshops.
17th NextGen Payments and Regtech Forum
Mar 07 – 08, 2024
Marriott Hotel, Zurich

On March 07 and 8, 2024, the Marriott Hotel in Zurich will host the 17th NextGen Payments and Regtech Forum, an event focusing on the continuous evolution of the payments industry, propelled by technological advancements, enhanced security measures, and evolving customer preferences that contribute to the efficiency and convenience of modern financial systems.
The forum aims to explore how organizations are optimizing their operations with a growing emphasis on adopting the latest technologies that are reshaping the payments and regtech industry. It will bring together global key influencers, innovators, strategists, and thought-leaders in the payments and regulatory space for discussions on market trends, digitalization, regulations, innovation, and technology.
Key topics to be covered include the evolving payments technology landscape, with insights from industry experts on global trends such as augmented reality (AR), contactless payments, digital wallets, embedded payments, variations of buy now, pay later (BNPL), the rise of digital currencies, and more. Data privacy, ethics, and cybersecurity will also be addressed, exploring themes like connecting cybersecurity with risk and fraud management and the evolution of artificial intelligence (AI).
Regtech and compliance innovation will be a focal point, showcasing how these technologies go beyond simplifying compliance and cutting costs, providing a verifiable competitive advantage.
With over 40 keynote speakers and more than 400 industry leaders participating from over 100 companies, the event promises to deliver tailored content for senior executives, offering a comprehensive exploration of the latest developments and insights in the dynamic landscape of payments and regtech.
FintechWorld24
March 13 – 14, 2024
Motorwerk Berlin, Berlin, Germany

FintechWorld24, scheduled for March 13 – 14, 2024, will take place at Motorwerk Berlin in Germany. Positioned as the largest finance tech event in the German, Austrian and Swiss (DACH) region, the event aims to bring together professionals from the banking and financial services industry for idea exchange and networking.
Building on the success of FintechWorld23, where 550 individuals from the banking and financial services sector convened, the upcoming event promises even more participation from fintech companies, banks, investors, and expanded networking opportunities.
Over 120 expert speakers will deliver forward-looking lectures on the main stage, covering 13 key themes:

Financing: Crowdfunding, loans and credit scoring, and factoring;
Investment: Trading, robo-advisory, and asset management services;
Payment: Mobile payment, e-payments, e-wallets;
Personal finance management: Digital tools for personal money, budget, and account management;
Proptech: Digitalization of the real estate industry;
Insurtech: All digital services related to insurance;
Crypto: Tools for cryptocurrency trading, initial coin offerings (ICOs), and asset tokenization;
Sustainability: Tools and technologies related to green investments, sustainable finance, ESG, and more;
Regtech: New technologies for managing regulations and compliance;
Accounting: Tools relating to accounting and human resources (HR) management;
Open banking: Open application programming interfaces (APIs) between banks and third-party providers;
Services and tools: Other solutions to make financial services more effective; and
Corporate banking: Everything from the world of classic corporate banking.
This year’s event is expected to bring together more than 1,000 participants and 150+ exhibitors/partners.

Pay360
March 19 – 20, 2024
ExCeL, London, UK


Pay360, scheduled for March 19 and 20, 2024, will take place this year at ExCel in London. The award-winning event is heralded as the largest gathering of the entire payments ecosystem under one roof, drawing in professionals, innovators, and industry leaders.
This year’s Pay360 edition promises an impressive lineup of 120+ speakers, 4,000+ attendees, and 100+ exhibitors. The two-day conference aims to provide a platform for attendees to have their views heard on the industry’s most pressing topics, shaping future policies, and staying abreast of upcoming technologies.
Pay360 will feature C-suite keynotes, debates, and consultation briefings, a Startup Pavilion to explore upcoming technologies, a 1-2-1 meeting service to connect with key stakeholders, working groups to problem-solve with peers, and the Disruption Theatre with bite-sized sessions focusing on industry trends.
Key features and reasons to attend Pay360 include networking opportunities with payment professionals, interaction with top payment innovators showcasing cutting-edge solutions, and access to expert speakers on free-to-attend disruption and innovation theaters.
Reinvest Forum Vienna
March 20 – 21, 2024
Albert Hall, Vienna, Austria

The Reinvest Forum Vienna, scheduled for March 20 – 21, 2024, will take place at the Albert Hall, promising an exclusive platform for industry stakeholders to shape the future of financial services.
Key highlights of the event include the SME Banking Summit 2024, which will provide a deep dive into the challenges faced by small and medium-sized enterprises (SMEs) within the dynamic landscape of retail financial services; the SME Banking Awards 2024, which will recognize and honor the best in banking and SME banking; and the Community Meetup, which will allow participants to exchange insights on sustainability resilience.
Attendees can also expect to gain valuable insights from global leaders and industry experts, discover how to embrace artificial intelligence and contribute to the digital banking revolution through engaging sessions with expert speakers.
Finance 2.0 – Crypto Assets 24
March 21, 2024
Kaufleuten Zurich, Zurich

Finance 2.0, one of the leading digital finance conferences in Switzerland, will take place this year on March 21 at Kaufleuten Zurich. This event aims to serve as a crucial platform for understanding the future of finance, particularly as Swiss banks progressively venture into the realm of crypto assets.
This year’s conference will delve into the opportunities and challenges that await in 2024, shedding light on the initiatives of leading asset managers who oversee a staggering US$16 trillion and are influencing the Bitcoin market through recent exchange-traded fund (ETF) applications, a pivotal development for the crypto market.
Participants will have the opportunity to gain insights into the crypto journey’s trajectory, understand the considerations professional investors must bear in mind, and evaluate the balance between opportunities and risks in the crypto space. The 2024 Bitcoin halving will be a focal point of celebration, with discussions on its profound impact on the crypto landscape.
Finance 2.0 – Crypto Assets 24 stands as a flagship conference and represents one of the most significant and influential digital finance venues in Switzerland. It serves as a meeting ground for the industry’s innovators and leaders, where discussions and collaborations shape the future of digital finance.
Blockchain in Financial Services 2024
March 21, 2024
Gottlieb Duttweiler Institute, Ruschlikon

On March 21, 2024, Finanz und Wirtschaft will host the Blockchain in Financial Services 2024 conference, providing a platform to explore the dynamic landscape of blockchain in the financial sector.
Amidst the current volatility in financial markets, the conference aims to delve into the strategic potential of blockchain, marking the foundation for “Blockchain 4.0”, the advent of Bitcoin exchange-traded funds (ETFs), and emerging trends in decentralized finance (DeFi) and smart contracts.
The conference will specifically address the challenges and opportunities surrounding privacy in blockchain technology, examining its significance for trust in the blockchain. Regulatory developments affecting digital assets and the progress made in the field will also be discussed. Opinion leaders from both the traditional financial industry and the crypto industry will come together to share insights on shaping the future of a decentralized financial economy.
The forum targets decision-makers in the banking and insurance industry, regulatory authorities, startups, visionary thinkers, and interested individuals from science and politics. Attendees are invited to network and exchange experiences with experts in a trusting and exclusive setting.
Confirmed speakers for the event include:

Mark Dambacher, InCore Bank;
Marianne Wildi, Kreditarbank Lenzburg AG;
Dr. Stephan A. Zwahlen, Maerki Baumann and Co. AG;
Pascale Bruderer, Swiss Stablecoin AG and TX Group;
Stefan Schwitter, Crypto Finance (Asset Management) AG;
Dr. Alexander Thoma, PostFinance;
Simon Kuehne, Sygnum;
Marc Bürki, Swissquote;
Mathias Imbach, Sygnum;
Deputy State Secretary Christoph König, Swiss State Secretariat for International Financial Affairs (SIF) Federal Department of Finance (EFD);
Daniel Fischmann, L1D;
Olaf Hannemann, CV VC; and
Dr. Attilio Zanetti, Swiss National Bank.

Paris Blockchain Week 2024
April 09 – 11, 2024
Le Carrousel du Louvre, Paris, France

The Paris Blockchain Week 2024, set to take place from April 09 to 11 at Le Carrousel du Louvre in Paris, France, is announced as the leading blockchain and Web 3.0 event in Europe. The 5th edition of the event promises cutting-edge industry content, renowned keynote speakers, and extensive networking opportunities with various blockchain and Web 3.0 communities.
Paris Blockchain Week 2024 will feature various pivotal topics in the blockchain and Web 3.0 arena, such as open finance, artificial intelligence (AI), regulations, central bank digital currencies (CBDCs), corporate Web 3.0, and payments.
In addition to the main conference, Paris Blockchain Week 2024 will encompass a week-long series of events. The Paris Blockchain Week Hackathon will allow talented coders to explore new horizons for blockchain innovation. The Talent Fair will bridge key recruiters from leading crypto, Web 3.0, and digital assets companies with top students, candidates, and professionals.
Investors and Founders Day will bring together investors interested in Web 3.0, blockchain, non-fungible tokens (NFTs), and the metaverse, providing valuable market insights and industry leader feedback. The event will also feature a unique VIP experience, including a private viewing of the Louvre museum and a dinner set under the famous pyramid.
The dedicated Corporate Programme, highlighted by the Corporate Breakfast, will emphasize the significance of corporates in the blockchain space, attracting traditional finance and corporates from various industries seeking to leverage blockchain and related enabling technologies.
Following the immense success of Paris Blockchain Week 2023, which saw over 8,500 participants from over 75 countries, the 2024 edition of the event is expected to draw over 10,000 attendees, feature more than 500 speakers, host 400 journalists, and collaborate with 300 partners.
Finanz ’24
April 24 – 25, 2024
Halle 550, Zurich

On April 24 and 25, 2024, the 25th edition of Finanz, Switzerland’s largest financial fair, will be held at Halle 550 in Zurich. This event, exclusively designed for professional investors, including asset managers, private bankers, family offices, insurers, pension funds, and more, will offer a comprehensive platform for networking, discussions, and exploration of the latest trends in the financial industry.
The event will encompass a range of activities, including roundtables, keynote speeches, specialist panels, training seminars, and exhibitor presentations. Attendees will have the chance to participate in various discussions covering topics such as central bank preparedness for the next crisis, the dynamics of globalization versus re-nationalization, and the future of energy strategy.
Roundtables will bring together experts from various fields for high-profile discussions on current issues, specialist panels will be organized to delve into specific financial topics, offering in-depth insights, and training seminars, organized by specialist financial associations, will provide additional educational opportunities.
Exhibitors will have the chance to give presentations in various areas, offering visitors detailed product and specialist information, and the Open Forum Crypto will provide a platform to discuss topics related to crypto, blockchain, fintech, and banking.
FIBE
April 24 – 25, 2024
City Cube Messe Berlin, Germany

Scheduled for April 24 and 25, 2024, at the City Cube Messe Berlin, Fintech Berlin (FIBE) will unite traditional banking with the disruptive fintech industry, bringing together industry experts, fintech visionaries, and finance enthusiasts to explore the newest trends and developments for the industry.
FIBE will delve into the dynamic nature of the fintech ecosystem, where traditional banking converges with disruptive innovations. The festival will adopt a holistic approach by presenting the latest trends and developments in the industry, not only through a congress format but also in an expo setup.
Attendees will have the opportunity to engage with all relevant players and experts, participate in deep discussions, partake in workshops, and explore curated mini-events that promise inspiration. Participants can anticipate valuable insights and real networking opportunities, contributing to the festival’s goal of creating a vibrant and interconnected fintech community.
Crypto and Digital Assets Summit
May 08 – 09, 2024
etc.venues, London, UK

The Crypto and Digital Assets Summit is retuning in 2024 for its third edition on May 08 and 09 at etc.venues in London. This two-day summit will feature a series of keynote interviews, networking opportunities and debates as industry leaders share how they will navigate the growing interest and adoption of tokenization by institutions, and the use cases for blockchain technology beyond cryptocurrencies.
Discussions at the summit will explore real-world applications of blockchain technology in financial markets, the potential of Bitcoin exchange-traded funds (ETFs), the role of stablecoins beyond currency, the geopolitical implications of crypto, and the pathway to achieving full industry regulation and compliance.
Key themes will include digital assets, geopolitics and regulation, risk management and compliance, currencies, tokens, and payments, trading and investing, and the emergence of Asia as a crypto and digital assets hub.
Confirmed speakers include:

Michael Sonnenshein, CEO, Grayscale Investments;
Bim Afolami, Economic Secretary to the Treasury and City Minister, UK Government;
Lucy Wong, Advisor, Bank for International Settlements Innovation Hub;
Lucy Gazmararian, Founder and Managing Partner, Token Bay Capital; and
J. Christopher Giancarlo, Former Chairman, US Commodity Futures Trading Commission and Co-Founder and Executive Chairman, Digital Dollar Project.

Viva Technology
May 22 – 25, 2024
Paris Expo Porte de Versailles, Paris, France

Scheduled from May 22 to 25, 2024, at the Paris Expo Porte de Versailles, Viva Technology stands as one of Europe’s largest technology and startup events, bringing together disruptive tech topics, innovative entrepreneurs, and groundbreaking technological advancements, to foster collaboration, inspiration and networking.
The event promises four exciting days in Paris, exploring disruptive tech topics through world-premiere demos, launches, and conferences within a collaborative ecosystem where business meets innovation.
In 2023, Viva Technology welcomed a record 150,000 international visitors, solidifying its status as an international showcase for technology and startups. Visitors from 174 countries explored hundreds of world-exclusive innovations and listened to prominent speakers like Elon Musk and Marc Benioff.
2024 Crypto Valley Conference
June 06 – 07, 2024
Hochschule Luzern, Risch-Rotkreuz

The 5th edition of the Crypto Valley Conference is set to take place on June 06 and 07, 2024, at Hochschule Luzern in Risch-Rotkreuz. Hosted by the Lucerne University and the Crypto Valley Association, this conference stands as a pivotal gathering for in-depth discussions on the current state and future prospects of blockchain technology.
The conference will cover a wide array of topics through more than 60 speakers representing the industry. Some of the key topics include decentralized exchange (DEX) development, staking, yield generation, blockchain venture capital (VC), compliance, on-chain data analytics, regulation, cybersecurity, sustainability, SSI (self-sovereign identity), gamefi, play-to-earn, metaverse, tokenization, stablecoins, CBDCs (central bank digital currencies), managing the blockchain “trilemma”, and infrastructure/interoperability/protocols.
The Crypto Valley Conference 2024 promises to be a dynamic and comprehensive forum for industry professionals, researchers, and enthusiasts to gain insights, share knowledge, and explore the latest advancements in blockchain technology.
Key highlights of the event include:

Master classes conducted by top industry leaders, offering profound insights, best practices, and technical solutions;
Over 40 presentations by global industry leaders covering a spectrum of topics on technology, economy and finance, and legal and regulation;
Attendees from diverse backgrounds including start-ups, corporate entities, academia, and government representatives;
Companies showcasing their latest products and services in the blockchain space;
Panel discussions challenging opinions live on stage, fostering engaging discourse; and
A legendary boat cruise party on Lake Zug to conclude the conference.

The event will feature a distinguished lineup of speakers, including:

Pascal Gauthier from Ledger
Teana Baker-Taylor from Circle
Frederik Gregaard from Cardano Foundation
Dominic Williams from Dfinity
Samia Bayou from Kraken
Dirk Klee from Bitcoin Suisse
Dan Held, Bitcoin Educator
Payal Shah from CME Group
Guillaume Chatain from Coinbase
Ilya Volkov from YouHodler
Demelza Hays from Cointelegraph
Alfonso Gomez from BBVA Switzerland

Fintech Week London 2024
June 10 – 14, 2024
London, UK

Fintech Week London 2024 will take place this year from June 10 to 14, offering a comprehensive series of events showcasing the city’s dynamic fintech landscape, providing global insights, and fostering collaboration among diverse players in the financial industry.
The flagship conference, set for Thursday, June 13, at ExCeL London, will be the focal point of Fintech Week London 2024, attracting over 1,000 senior decision-makers from leading fintechs, banks, investment firms, regulatory bodies, media companies, and service providers.
Key topics explored during the event will include embedded finance, insurtech, artificial intelligence (AI), payments, venture and fundraising, Web 3.0 and metaverse, crypto, inclusive ESG, and fintech for good. The event promises a fast-paced and dynamic exchange of ideas, featuring keynote presentations, interactive panel debates, workshops, roundtables, and ample networking opportunities.
Fintech Week London stands as a unique opportunity to connect with London’s key influencers, decision-makers, and innovators. This week-long event, nestled in one of the world’s foremost financial districts, facilitates collaboration between traditional financial institutions and emerging fintech players.
Perks of Fintech Week London 2024 include an enhanced conference experience at ExCeL London, boasting an expanded capacity of up to 1,200 attendees, two concurrent session stages, and a 1,500-square-meter expo area. The event also offers orchestrated and curated speed networking sessions, facilitating connections with key players in the fintech industry.
Fintech and SFAN 2024
June 11, 2024
Gottlieb Duttweiler Institute, Ruschlikon

On June 11, 2024, the Fintech and SFAN 2024 conference will take place at the Gottlieb Duttweiler Institute. The conference promises a diverse program featuring inspiring input, workshops, and entertaining networking opportunities for all participants.
Although the detailed conference program is yet to be unveiled, attendees can expect:

Interesting lectures and panel discussions led by industry experts;
Workshops covering both scientific and practical aspects, including concrete use cases designed to enhance knowledge and skills; and
Networking opportunities to connect with like-minded individuals within the fintech community;
The live conference program will be revealed in the coming weeks, offering a glimpse into the engaging content and activities planned for the event.

MoneyNext 2024
June 19 – 20, 2024
ExCel, London, UK

MoneyNext is a leading digital transformation event for the financial services sector, encompassing four co-located industry-leading summits: Banking Transformation, Wealth Management Transformation, Insurance Transformation, and Lending Transformation.
The event, scheduled for June 19 and 20 at ExCeL in London, will serve as a convergence point for 2,500 financial services technology professionals committed to advancing digital innovation and progressing in their transformation endeavors.
With a distinguished lineup of 200 industry-leading speakers, MoneyNext will offer a platform for these experts to share their stories, visions, and innovative insights, promising an unparalleled opportunity for attendees to learn, connect, and stay abreast of the latest trends and advancements in financial services transformation.
Point Zero Forum
July 01 – 03 2024
Zurich, Switzerland

From July 01 to 03, 2024, Zurich, Switzerland, will host the third edition of the Point Zero Forum, an international fintech conference. Jointly organized by Switzerland and Singapore, the annual event aims to foster a policy and technology dialogue in the Financial Services industry.
This year’s forum will bring together central bankers, regulators, policymakers, and industry leaders to delve into the latest developments in financial technology and discuss the future of finance. The program includes leadership dialogues, public-private roundtables, deep-dive workshops, and networking events. The forum’s overarching goals are to instill confidence, promote adoption, and facilitate the growth of transformative technology. Additionally, it aims to assess and endorse appropriate governance and risk frameworks.
The 2023 edition of Point Zero Forum witnessed the participation of representatives from over 50 countries, engaging in dialogues in Zurich. The event hosted more than 1,300 high-ranking financial leaders from regulatory and financial authorities, central banks, financial organizations, investor circles, startups, and academia. Against the backdrop of ongoing turmoil in the financial services sector, representatives exchanged views on the potential of new technologies, including artificial intelligence in financial services and sustainable finance, to strengthen the financial industry.
Swiss Fintech and AI Investor Day 2024 – SD133
October 03, 2024
TX Group, Zurich

On October 03, 2024, the Swiss Fintech and AI Investor Day 2024, labeled SD133, will take place at TX Group in Zurich. This hybrid event, organized by the Swiss ICT Investor Club (SICTIC). This event is primarily intended for angel investors, including novices. Family offices, fund managers, and VCs looking to invest in Swiss startups are also welcome to attend.


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	]]></description><link>https://fintechnews.eu/top-20-fintech-events-to-attend-in-europe-in-h1-2024</link><guid>3534</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Top-20-Fintech-Events-to-Attend-in-Europe-in-H1-2024-1440x564_c.jpg</dc:content ><dc:text>Top 20 Fintech Events to Attend in Europe in H1 2024</dc:text></item><item><title>Visa Cash App Forms Partnership with Red Bull Formula 1 Teams</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 29, 2024
																				





					
					
							
					The Formula One grid is charging into the 2024 season with a new look and new support.
Red Bull F1 Teams and Visa announced an unprecedented multi-year agreement where Visa will become the first global partner of both Red Bull F1 teams, bringing a new look team to the F1 grid in the form of Visa Cash App RB, formerly Scuderia AlphaTauri.
Visa’s first new major global sports sponsorship in more than 15 years, the agreement encompasses the Visa Cash App RB team, corresponding title partnership on the F1 Academy team entry and the Oracle Red Bull Racing team. The Visa logo appearing on both the Oracle Red Bull Racing and Visa Cash App RB cars as well as the F1 Academy entries from the respective teams.






Frank Cooper III
“This is a groundbreaking partnership, and a great opportunity for the Visa brand to engage one of the fastest-growing sports communities on the planet,”
said Frank Cooper III, Chief Marketing Officer, Visa.
“This alliance resonates strongly with Visa’s vision to inspire individuals to ‘make it,’ striving to take small steps for improvement each day, during every race or event.”
Visa Cash App RB Races into the Future
Visa Cash App RB Drivers Yuki Tsunoda of Japan and Daniel Ricciardo of Australia will sport a newly designed Visa and Cash App inspired car livery and driver’s kit when the F1 2024 racing series kicks off in Bahrain on February 29. The full livery unveil will take place during a special Las Vegas event on February 8.
Beyond the high impact branding opportunities with Visa Cash App RB, the two companies are committed to both propelling the team to excellence on the grid and providing cardholders opportunities to get closer to the action through team activities including behind the scenes access, driver meet and greets, merchandise and elevated hospitality at races.
Peter Bayer
“It’s fantastic to reveal the new identity and to welcome new partners as we embark on the next phase of the team’s Formula 1 story,”
said Peter Bayer, Chief Executive Officer of the newly named Visa Cash App RB team.
“Faenza is entering a new era of racing, staying true to our roots as a hothouse for talent but now with an even greater focus on competing for the biggest prizes in F1. We have a bold vision for the team led by myself and Team Principal, Laurent Mekies and having future-focused partners such as Visa and Cash App alongside us on that journey is hugely exciting.”
Championing Equality in Motor Sports
Visa has long been committed to women’s empowerment and economic advancement through sponsorship platforms. Furthering that commitment, Visa and Cash App will join Red Bull to champion Visa Cash App RB in the F1 Academy series. The all female driving series takes place at seven select F1 tracks over the same weekend as the F1 races. This livery will also be unveiled during February’s special event.

This article first appeared on fintechnews.am




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	]]></description><link>https://fintechnews.eu/visa-cash-app-forms-partnership-with-red-bull-formula-1-teams</link><guid>3532</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Visa-Cash-App-Forms-Partnership-with-Red-Bull-Formula-1-Teams--1440x564_c.jpg</dc:content ><dc:text>Visa Cash App Forms Partnership with Red Bull Formula 1 Teams</dc:text></item><item><title>Top 10 Fintech Events to Attend in 2024 in Switzerland</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 29, 2024
																				





					
					
							
					Switzerland’s fintech ecosystem has experienced significant growth over the past years. With over 400 fintech companies, Switzerland is home to 10% of all European fintechs, and Zurich hosts 46% of these, data from recruitment consultancy Michael Page show. The sector’s total investment reached CHF 191 million in H1 2023, making up 16% of the CHF 1,196 million raised by Swiss tech startups secured during the period, according to the Swiss Venture Capital Report 2023 Update.
As Switzerland maintains its position as one of the leading players in the global fintech landscape, an array of noteworthy events are being scheduled each year to capture the essence of this dynamic sector. These gatherings serve as critical platforms for networking and knowledge exchange, providing participants with the opportunity to connect with their peers and discuss the future of finance.
In this list, we present the top ten fintech events slated for 2024 in Switzerland, offering a selection of must-attend conferences that are poised to bring together some of the industry’s biggest innovators and influential industry stakeholders.






Vision Bank – Vision Swiss Financial Center #21 Build on Stability
February 01, 2024
SIX Convention Point, ConventionPoint, Zurich

On February 1, 2024, Finanz und Wirtschaft will be hosting the “Vision Bank – Vision Swiss Financial Center #21 Build on Stability” event, a gathering aimed at addressing the numerous challenges currently facing the Swiss financial center, including war, inflation, the interest rate environment, and pervasive uncertainties that are testing its resilience and adaptability.
The event will seek to underscore the importance of stability and security in navigating the turbulent financial landscape. Participants will explore how to guarantee these advantages amidst a backdrop of change and innovation, ensuring stable framework conditions and planning security during times of crisis. The role of a diversified banking landscape for success will be examined, along with an exploration of the motivations and needs of the customer of the future, and the readiness of financial providers to meet those demands. Additionally, the event will analyze the strategic roles of foreign banks currently operating aggressively.
Confirmed speakers for the event include:

Marc Pictet, Pictet;
wan Deplazes, AMAS and Zürcher Kantonalbank;
Patrick Frost, Swiss Life;
Hansruedi Köng, PostFinance;
Zeno Staub, Vontobel;
Roman Studer, Swiss Bankers Association;
Laurent Gagnebin, Rothschild and Co Bank AG;
Dr. Mara Harvey, VP Bank (Switzerland) AG;
Enna Pariset, BNP Paribas (Suisse) SA;
Marc Steinkat, Commerzbank Switzerland; and
Moderation: Reto Jauch, Schulthess Zimmermann and Jauch.

SIC Instant Payments: A Catalyst for Competitive Advantage
February 08, 2024
Webinar

Instant payments are the most positive development for the Swiss financial sector in years due to their proven role as a catalyst for change within that system. Whilst Instant payments are mainly used for domestic purposes, rather than cross-border, they hold the promise of providing Switzerland with a competitive and innovative marketplace where citizens and SMEs can leverage the speed for improved liquidity and enriched data for transparency.
The implementation of SIC IP is not only about coping with a processing time of 10 seconds; it also has ramifications across the whole ecosystem, with many areas such as end-user experience, non-stop availability, sanctions screening, balance check, reporting, storage, and flow orchestration being impacted. Therefore, this whole integration needs to be carefully planned and implemented.
Join Bottomline, SIX, t’charta AG and other experts as they highlight the best strategy for digital payments transformation in Switzerland and how to ensure you stay one step ahead of your competition:

New banking trends and initiatives for 2024 &amp; beyond and why they matter (SIC 5, SIC Instant, SSFN, SEPA Inst, ISO 20022, Pre-validation)
Use cases for banks to develop new offerings for cross-border &amp; domestic payments
Deep Dive: Getting ready for SIC Instant Payments in 2026
Overcoming issues of legacy infrastructure and building the business case for transitioning to SaaS

Speakers:

Bruno Kudermann, Senior Product Manager, SIX
Dennis Flad, Partner, t’charta
Frédéric Viard, Head of Commercial Product Management – Financial Messaging, Bottomline, Bottomline
Zhenya Winter, Head of Marketing – Financial Messaging, Bottomline

Register Here: https://bit.ly/41TtAvS
17th NextGen Payments and Regtech Forum
Mar 07 – 08, 2024
Marriott Hotel, Zurich

On March 07 and 8, 2024, the Marriott Hotel in Zurich will host the 17th NextGen Payments and Regtech Forum, an event focusing on the continuous evolution of the payments industry, propelled by technological advancements, enhanced security measures, and evolving customer preferences that contribute to the efficiency and convenience of modern financial systems.
The forum aims to explore how organizations are optimizing their operations with a growing emphasis on adopting the latest technologies that are reshaping the payments and regtech industry. It will bring together global key influencers, innovators, strategists, and thought-leaders in the payments and regulatory space for discussions on market trends, digitalization, regulations, innovation, and technology.
Key topics to be covered include the evolving payments technology landscape, with insights from industry experts on global trends such as augmented reality (AR), contactless payments, digital wallets, embedded payments, variations of buy now, pay later (BNPL), the rise of digital currencies, and more. Data privacy, ethics, and cybersecurity will also be addressed, exploring themes like connecting cybersecurity with risk and fraud management and the evolution of artificial intelligence (AI).
Regtech and compliance innovation will be a focal point, showcasing how these technologies go beyond simplifying compliance and cutting costs, providing a verifiable competitive advantage.
With over 40 keynote speakers and more than 400 industry leaders participating from over 100 companies, the event promises to deliver tailored content for senior executives, offering a comprehensive exploration of the latest developments and insights in the dynamic landscape of payments and regtech.
Blockchain in Financial Services 2024
March 21, 2024
Gottlieb Duttweiler Institute, Ruschlikon

On March 21, 2024, Finanz und Wirtschaft will host the Blockchain in Financial Services 2024 conference, providing a platform to explore the dynamic landscape of blockchain in the financial sector.
Amidst the current volatility in financial markets, the conference aims to delve into the strategic potential of blockchain, marking the foundation for “Blockchain 4.0”, the advent of Bitcoin exchange-traded funds (ETFs), and emerging trends in decentralized finance (DeFi) and smart contracts.
The conference will specifically address the challenges and opportunities surrounding privacy in blockchain technology, examining its significance for trust in the blockchain. Regulatory developments affecting digital assets and the progress made in the field will also be discussed. Opinion leaders from both the traditional financial industry and the crypto industry will come together to share insights on shaping the future of a decentralized financial economy.
The forum targets decision-makers in the banking and insurance industry, regulatory authorities, startups, visionary thinkers, and interested individuals from science and politics. Attendees are invited to network and exchange experiences with experts in a trusting and exclusive setting.
Confirmed speakers for the event include:

Mark Dambacher, InCore Bank;
Marianne Wildi, Kreditarbank Lenzburg AG;
Dr. Stephan A. Zwahlen, Maerki Baumann and Co. AG;
Pascale Bruderer, Swiss Stablecoin AG and TX Group;
Stefan Schwitter, Crypto Finance (Asset Management) AG;
Dr. Alexander Thoma, PostFinance;
Simon Kuehne, Sygnum;
Marc Bürki, Swissquote;
Mathias Imbach, Sygnum;
Deputy State Secretary Christoph König, Swiss State Secretariat for International Financial Affairs (SIF) Federal Department of Finance (EFD);
Daniel Fischmann, L1D;
Olaf Hannemann, CV VC; and
Dr. Attilio Zanetti, Swiss National Bank.

Finanz ’24
April 24 – 25, 2024
Halle 550, Zurich

On April 24 and 25, 2024, the 25th edition of Finanz, Switzerland’s largest financial fair, will be held at Halle 550 in Zurich. This event, exclusively designed for professional investors, including asset managers, private bankers, family offices, insurers, pension funds, and more, will offer a comprehensive platform for networking, discussions, and exploration of the latest trends in the financial industry.
The event will encompass a range of activities, including roundtables, keynote speeches, specialist panels, training seminars, and exhibitor presentations. Attendees will have the chance to participate in various discussions covering topics such as central bank preparedness for the next crisis, the dynamics of globalization versus re-nationalization, and the future of energy strategy.
Roundtables will bring together experts from various fields for high-profile discussions on current issues, specialist panels will be organized to delve into specific financial topics, offering in-depth insights, and training seminars, organized by specialist financial associations, will provide additional educational opportunities.
Exhibitors will have the chance to give presentations in various areas, offering visitors detailed product and specialist information, and the Open Forum Crypto will provide a platform to discuss topics related to crypto, blockchain, fintech, and banking.
Finance 2.0 – Crypto Assets 24
March 21, 2024
Kaufleuten Zurich, Zurich

Finance 2.0, one of the leading digital finance conferences in Switzerland, will take place this year on March 21 at Kaufleuten Zurich. This event aims to serve as a crucial platform for understanding the future of finance, particularly as Swiss banks progressively venture into the realm of crypto assets.
This year’s conference will delve into the opportunities and challenges that await in 2024, shedding light on the initiatives of leading asset managers who oversee a staggering US$16 trillion and are influencing the Bitcoin market through recent exchange-traded fund (ETF) applications, a pivotal development for the crypto market.
Participants will have the opportunity to gain insights into the crypto journey’s trajectory, understand the considerations professional investors must bear in mind, and evaluate the balance between opportunities and risks in the crypto space. The 2024 Bitcoin halving will be a focal point of celebration, with discussions on its profound impact on the crypto landscape.
Finance 2.0 – Crypto Assets 24 stands as a flagship conference and represents one of the most significant and influential digital finance venues in Switzerland. It serves as a meeting ground for the industry’s innovators and leaders, where discussions and collaborations shape the future of digital finance.
2024 Crypto Valley Conference
June 06 – 07, 2024
Hochschule Luzern, Risch-Rotkreuz

The 5th edition of the Crypto Valley Conference is set to take place on June 06 and 07, 2024, at Hochschule Luzern in Risch-Rotkreuz. Hosted by the Lucerne University and the Crypto Valley Association, this conference stands as a pivotal gathering for in-depth discussions on the current state and future prospects of blockchain technology.
The conference will cover a wide array of topics through more than 60 speakers representing the industry. Some of the key topics include decentralized exchange (DEX) development, staking, yield generation, blockchain venture capital (VC), compliance, on-chain data analytics, regulation, cybersecurity, sustainability, SSI (self-sovereign identity), gamefi, play-to-earn, metaverse, tokenization, stablecoins, CBDCs (central bank digital currencies), managing the blockchain “trilemma”, and infrastructure/interoperability/protocols.
The Crypto Valley Conference 2024 promises to be a dynamic and comprehensive forum for industry professionals, researchers, and enthusiasts to gain insights, share knowledge, and explore the latest advancements in blockchain technology.
Key highlights of the event include:

Master classes conducted by top industry leaders, offering profound insights, best practices, and technical solutions;
Over 40 presentations by global industry leaders covering a spectrum of topics on technology, economy and finance, and legal and regulation;
Attendees from diverse backgrounds including start-ups, corporate entities, academia, and government representatives;
Companies showcasing their latest products and services in the blockchain space;
Panel discussions challenging opinions live on stage, fostering engaging discourse; and
A legendary boat cruise party on Lake Zug to conclude the conference.

The event will feature a distinguished lineup of speakers, including:

Pascal Gauthier from Ledger
Teana Baker-Taylor from Circle
Frederik Gregaard from Cardano Foundation
Dominic Williams from Dfinity
Samia Bayou from Kraken
Dirk Klee from Bitcoin Suisse
Dan Held, Bitcoin Educator
Payal Shah from CME Group
Guillaume Chatain from Coinbase
Ilya Volkov from YouHodler
Demelza Hays from Cointelegraph
Alfonso Gomez from BBVA Switzerland

Fintech and SFAN 2024
June 11, 2024
Gottlieb Duttweiler Institute, Ruschlikon

On June 11, 2024, the Fintech and SFAN 2024 conference will take place at the Gottlieb Duttweiler Institute. The conference promises a diverse program featuring inspiring input, workshops, and entertaining networking opportunities for all participants.
Although the detailed conference program is yet to be unveiled, attendees can expect:

Interesting lectures and panel discussions led by industry experts;
Workshops covering both scientific and practical aspects, including concrete use cases designed to enhance knowledge and skills; and
Networking opportunities to connect with like-minded individuals within the fintech community;
The live conference program will be revealed in the coming weeks, offering a glimpse into the engaging content and activities planned for the event.

Point Zero Forum
July 01 – 03 2024
Zurich, Switzerland

From July 01 to 03, 2024, Zurich, Switzerland, will host the third edition of the Point Zero Forum, an international fintech conference. Jointly organized by Switzerland and Singapore, the annual event aims to foster a policy and technology dialogue in the Financial Services industry.
This year’s forum will bring together central bankers, regulators, policymakers, and industry leaders to delve into the latest developments in financial technology and discuss the future of finance. The program includes leadership dialogues, public-private roundtables, deep-dive workshops, and networking events. The forum’s overarching goals are to instill confidence, promote adoption, and facilitate the growth of transformative technology. Additionally, it aims to assess and endorse appropriate governance and risk frameworks.
The 2023 edition of Point Zero Forum witnessed the participation of representatives from over 50 countries, engaging in dialogues in Zurich. The event hosted more than 1,300 high-ranking financial leaders from regulatory and financial authorities, central banks, financial organizations, investor circles, startups, and academia. Against the backdrop of ongoing turmoil in the financial services sector, representatives exchanged views on the potential of new technologies, including artificial intelligence in financial services and sustainable finance, to strengthen the financial industry.
Swiss Fintech and AI Investor Day 2024 – SD133
October 03, 2024
TX Group, Zurich

On October 03, 2024, the Swiss Fintech and AI Investor Day 2024, labeled SD133, will take place at TX Group in Zurich. This hybrid event, organized by the Swiss ICT Investor Club (SICTIC).
This event is primarily intended for angel investors, including novices. Family offices, fund managers, and VCs looking to invest in Swiss startups are also welcome to attend.


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	]]></description><link>https://fintechnews.eu/top-10-fintech-events-to-attend-in-2024-in-switzerland</link><guid>3533</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Top-10-Fintech-Events-to-Attend-in-2024-in-Switzerland-1440x564_c.jpg</dc:content ><dc:text>Top 10 Fintech Events to Attend in 2024 in Switzerland</dc:text></item><item><title>VanEck and Marketvector Indexes Complete Strategic Investment in Digital Asset Data Provider CCData</title><description><![CDATA[
									
					
							
					CCData, a London-based digital asset data and index provider, announced that it has secured a strategic investment round led by VanEck, the New York City-based asset manager.
The investment comes through VanEck’s affiliate MarketVector Indexes, a leading global index provider with more than $33 billion in licensed assets tracking its benchmarks. MarketVector has partnered with CCData on its suite of market-leading digital asset indexes since 2017. CCData’s successful funding strategically positions the company to meet increasing institutional demand and further enhance its data and index solutions.
Founded in 2014, CCData aggregates live crypto data feeds from globally recognised exchanges to provide comprehensive and accurate digital asset data, reference rates and indexes. At present, CCData’s market-leading data solutions are utilised by leaders in the traditional financial and digital assets worlds, including MSCI, Pantera, Ripple, BitGo, Metamask, Coinbase, and 21Shares, alongside strategic distribution partnerships with platforms such as Refinitiv, SIX Digital, and FactSet.






This announcement follows a year of significant milestones for the digital asset sector, highlighted by numerous regulatory advancements, substantial institutional inflows, and a surge in spot Bitcoin ETF applications, including a submission by VanEck that features underlying data from CCData. As an increasing number of institutions look to gain exposure to this asset class, accurate digital asset data solutions have never been more important.
Charles Hayter
“With influential institutions actively entering the digital asset sector, the demand for robust data and indexing solutions that mirror the gold standard of traditional finance is paramount. VanEck’s investment in CCData stands testament not only to the achievements and growth we have made in this area since launching in 2014, but also to the strides taken by the digital asset industry over the last years. With the first U.S. spot Bitcoin ETFs now approved, the digital asset sector is poised for a powerful phase of adoption, in which trusted market-leading data solutions will play a crucial role in steering its growth”
said Charles Hayter, CEO and Co-Founder of CCData.
“CCData is aligned with our goal of providing quality information to digital asset investors. To make informed decisions, investors need accurate data. We look forward to CCData’s continued growth and expansion of products to meet client needs. stated Jan van Eck, CEO of Van Eck Associates Corp. ‘To me, one of their most impressive milestones was when they received authorisation as an FCA authorised benchmark administrator, aligning their market-leading methodologies with the U.K.’s regulatory standards, “
he added.
Steven Schoenfeld
“MarketVector has been a partner with CCData since 2017, when we launched our initial family of Digital Asset indexes,”
stated Steven Schoenfeld, CEO of MarketVector Indexes.
“We continue to innovate and grow our crypto index and data capabilities together with CCData, ensuring relevant, reliable and regulatory-compliant solutions for our clients,”
he continued.‍

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/vaneck-and-marketvector-indexes-complete-strategic-investment-in-digital-asset-data-provider-ccdata</link><guid>3531</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>VanEck and Marketvector Indexes Complete Strategic Investment in Digital Asset Data Provider CCData</dc:text></item><item><title>EU Moves Closer to Instant Payment Ubiquity</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 25, 2024
																				





					
					
							
					Europe is undergoing a profound transformation in its instant payment landscape as the bloc strives to become a leader in payment innovation. Recognizing the need for enhanced adoption of real-time payments, regulatory bodies are driving the push for better instant payment infrastructure and working towards the unification of systems and experiences across the Single Europe Payments Area (SEPA).
Last year, the European Union (EU) moved closer to making instant payments ubiquitous across the bloc by advancing instant payment regulation. The regulatory proposal, which was first put forward in 2022, amends and modernizes the SEPA regulation of 2012 by adding specific provisions designed to expedite the adoption of instant payments and the SEPA Instant Credit Transfer scheme (SCT Inst).
The European Commission’s Instant Payments Regulations, Source: Instant Payments: a spotlight on the European Commission for Regulation, PwC, Dec 2023
Launched in 2017, SCT Inst is a pan-European instant payment scheme that allows domestic and cross-border payments in euro to be made to and received from participating PSPs. It provides tangible benefits for public administrations, with funds being made available immediately to the payee, and removes the limitations of traditional credit transfers, which are typically bound to the business hours of the handling payment service provider, with credited funds taking more time to appear as a result.






Though SCT Inst has been available for some time and despite the system’s clear advantages, adoption of instant payments across the EU has been slow, partly due to high bank pricing. The new regulation aims to address that by mandating payment service providers (PSPs) including banks to offer the service of sending and receiving instant payments in euro at no extra cost.
Published in November 2023, the final regulation proposal requires banks to provide instant payments to their customers without exceeding the costs of non-instant transfers.
To address increased speed and potential risks, the regulation instructs providers to verify the match between the bank account number (IBAN) and the name of the beneficiary provided by the payer in order to alert the payer of a possible mistake or fraud before the payment is made. This aims to stop scams like authorized push payment fraud where people are manipulated into sending large sums to bogus accounts while believing they’re paying a legitimate invoice.
Speaking to Fintech Futures, the EC said that a mandate is essential at this point in time to realize the comprehensive benefits of instant payments for EU citizens, businesses, public authorities and society.
“Five years after the necessary technology was put in place to process euro payments instantly, it is apparent that the efforts of the European payments industry or member states have not been sufficient to remove these obstacles throughout the EU in a timely fashion,” the EC told the media outlet.
“Legislative intervention is necessary to unlock the full-scale network effects by connecting all payment service providers to instant payment technology, tackling high prices and frictions, and mitigating the risk of fraud or errors.”
Slow uptake of instant payments
Although policymakers are pushing for instant payment adoption, the current state of adoption varied widely across countries within SEPA. Denmark, for example, has embraced instant payments through MobilePay, an app that enables low-cost instant payment capabilities and which is said to have reached a 93% penetration rate amount the country’s adult population, according to data from the Danish central bank.
France, on the other hand, has seen lower adoption due to the popularity of the national debit scheme, Cartes Bancaires, and the high cost associated with using real-time payments. In France, while users typically receive instant payments for free, instant payments still incur a costly premium fee of up to EUR 1 per transaction for senders, according to Victor Mithouard, vice president of growth at UK paytech provider Numeral.
Mithouard believes that a key challenge to widespread adoption of instant payments in the EU is the current high pricing by banks, estimating that instant credit transfers cost on average five times more than regular credit transfers.
Average cost of SCT Inst transfers in Europe, Source: Victor Mithouard, vice president of growth of Numeral, Dec 2022
Currently, only 11% of the EU’s euro money transfers are instant, Carlos Cuerpo, secretary general of the treasury and international financing of the government of Spain and minister for economy, trade and companies, told The Banker in November 2023.
The new EU mandate seeks to address these obstacles and benefit consumers by reducing operational delays and costly requirements associated with credit transfers. However, the implementation may pose challenges for smaller PSPs.
Nadish Lad, managing director and global head of strategic business at Volante Technologies, an American paytech firm, expects major banking players to adapt more easily to the new requirements. “Some institutions are very tech savvy, and so would look at probably doing something internally with their own teams,” Lad told Fintech Futures.
However, smaller PSPs with limited internal leverage may encounter some difficulties and could opt for the outsourcing route.
“If [you are an experienced vendor with an established history of implementations] you have implemented it in other countries, you know the pitfalls, you know what needs to be done,” he said. “And that is where we think that a lot of the preference is going to be more on using a vendor rather than doing something internally.”
Interoperability with international markets
Lad noted that while the mandate underlines SEPA-wide connectivity, it also encourages a global view of interoperability with international markets, such as the Middle East and the US.
“If we look at the steps where we are heading now, it is probably important to look at a more global scale, because the concept is that, at the end of the day, we are looking at Europe today, but within a few years, we fully expect some key corridors, for example, USD to euro,” he told the media outlet.
“All the key ingredients for an international global standardization approach are there. If you have to do it, let’s think about where it’s heading and think about the next steps.”
The main provisions of the instant payment regulation were agreed by representatives of the EU’s Council and Parliament in November 2023, but the law still however needs to be formally signed off by both those EU institutions.
The Parliament also voted in favor of implementation deadlines for the new regulation. The timeline, included in the text, requires all euro-area PSPs to support receiving and sending SCT Inst payments along with fulfilling IBAN name checking and entity screening requirements by the end of 2025. From the end of 2026 onwards, these obligations will be expanded to payment institutions and to banks located in non-euro area nations.
European Commission timeline for PSP’s instant payment adoption, Source: Instant Payments: a spotlight on the European Commission for Regulation, PwC, 2023
A webinar will be hosted by Bottomline on Feb 8, 2024 at 11am CET to discuss about SIC Instant Payments and its impact for Swiss banks and financial institutions. Join this webinar to learn more on getting ready for SIC Instant Payments by 2026, and new banking trends and initiatives.


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/eu-moves-closer-to-instant-payment-ubiquity</link><guid>3530</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/EU-Moves-Closer-to-Instant-Payment-Ubiquity-1440x564_c.jpg</dc:content ><dc:text>EU Moves Closer to Instant Payment Ubiquity</dc:text></item><item><title>Sygnum Funding Round Exceeds Expectations, Raising Over US$40 Million</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 25, 2024
																				





					
					
							
					Global digital asset banking group Sygnum has reported an interim close of its Strategic Growth Round, successfully raising over US$40 million, surpassing its initial target of around US$35 million. This funding has elevated the Sygnum post-money valuation to US$900 million.
The Strategic Growth Round aims to fund Sygnum’s expansion into new markets and the enhancement of its regulated products and services, aligning with the growing trends in the digital asset industry. The funding round, having exceeded its original target, was led by Azimut Holding, a global asset management group.
Sygnum‘s latest fundraising efforts were driven by its solid financial performance and expanding regulatory footprint, especially notable during the recent ‘crypto winter’. The company finished the previous year with a significant annualised revenue and achieved a positive cash flow in the last quarter of the year.






The funding round saw investments from both new and existing strategic and financial investors, including Sygnum employees who participated on the same terms as external investors. The majority ownership of the company continues to be held by its employees, co-founders, board members, and management team.
The raised capital is intended to support Sygnum’s growth plans, including the expansion of its B2B platform and other regulated product offerings. Sygnum has recently formed partnerships with institutions such as Bordier &amp; Cie in Singapore and PostFinance in Switzerland, reflecting its expanding global presence.
Sygnum has experienced substantial growth in its assets under administration, reaching over US$4 billion, with a diverse client base from over 60 countries. The company has maintained its momentum in expanding its global team, nearing 250 members, and holds operational licenses in Switzerland, Singapore, the UAE, and Luxembourg.
Giorgio Medda
Giorgio Medda, CEO of Azimut Holding, expressed his enthusiasm for leading the funding round.
“We are pleased to have led Sygnum’s Strategic Growth Round fundraising at this topical moment when the demand for well-regulated, institutionalised services in crypto looks set to surge in 2024. Sygnum has been a key partner since 2021, and we have appreciated the team’s expertise and high degree of innovation.”
Mathias Imbach
Mathias Imbach, Co-Founder and Group CEO of Sygnum, shared his perspective.
“Closing a successful funding round in this macro environment with such strong partners is exciting, and we are thankful for our investors’ trust in us. Our core thesis has always been that Future has Heritage, and our strategy to build trust via regulation and good governance has guided us throughout all market cycles.
We look forward to continuing to empower everyone everywhere to own digital assets with complete trust,”
he said.


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	]]></description><link>https://fintechnews.eu/sygnum-funding-round-exceeds-expectations-raising-over-us40-million</link><guid>3529</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2020/09/Sygnum’s-Digital-Asset-Trading-Facility-Gets-Regulatory-Clearance-From-FINMA-1440x564_c.png</dc:content ><dc:text>Sygnum Funding Round Exceeds Expectations, Raising Over US$40 Million</dc:text></item><item><title>Carvolution Secures CHF 200 Million Financing from Barclays</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 24, 2024
																				





					
					
							
					Carvolution, a Swiss market leader for car subscriptions, secures up to 200 million Swiss francs. This takes Carvolution’s fleet development and the related financing to a new scale, as the young company from Oberaargau has succeeded in attracting international partners whilst maintaining its growth trajectory.
A couple of months ago, Zuger Kantonalbank committed funds of 24 million Swiss francs for the expansion of the fleet. With the beginning of the year, another, considerably larger asset backed-financing round follows, securing Carvolution as far as additional 200 million Swiss francs.
Olivier Kofler
Olivier Kofler, CEO and co-founder of Carvolution, underlines the importance of this deal:






“Financing is a key driver of our business model. Car subscriptions are becoming increasingly popular. To keep up with this trend and to satisfy the increasing demand, we need strong partners and good fleet financing solutions.”
The 200 million Swiss francs financing is both an opportunity and a great encouragement for the young company to consistently continue the expansion of its profitable growth path.
The majority of the funding comes from Barclays, an international bank from the UK. Commenting on the Carvolution deal, Gordon Beck, Director Corporate &amp; Sustainable Securitisation at Barclays, says:
“Carvolution is one of the international flagship start-ups in the mobility space and we are delighted to be able to support them in their future growth with this innovative debt financing solution.”
In addition to Barclays, clients of Waterfall Asset Management provided a Mezzanine Facility. Waterfall Asset Management is an active investor in structured credit opportunities across the capital structure, supporting similar businesses across the US and Europe.
Financing solutions of this magnitude are a rarity in the Swiss start-up ecosystem, says Kofler:



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	]]></description><link>https://fintechnews.eu/carvolution-secures-chf-200-million-financing-from-barclays</link><guid>3528</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Carvolution-Secures-up-to-CHF-200-Million-1-1440x564_c.jpg</dc:content ><dc:text>Carvolution Secures CHF 200 Million Financing from Barclays</dc:text></item><item><title>News Overview: The Leading Crypto Valley Top 50 Companies in 2024</title><description><![CDATA[
									
					
							
					In the 9th edition of the CV VC Top 50 Report, the Annual Report of the Crypto Valley, the Top 50 Report meticulously captures and quantifies the ecosystem, utilizing a refined methodology to identify the Top 50 entities. A
Aligned with a commitment to providing clarity in charting this dynamic industry, it delves into venture funding activity for the 2023 calendar year, comparing Crypto Valley data to that of Global and European venture funding. The report highlights the deeper foundational factors, regulatory perspective, building blocks, and globally focused impact activities of Crypto Valley pioneers.
Key Findings:







Crypto Valley Top 50 experiences a 106% valuation surge, reaching $382.93 billion.
Crypto Valley now counts 1290 companies, a 13.6% increase, with nearly 40% in Zug.
13 Unicorns, 10 by token market cap, and 3 by market valuation, a 44% increase.
47 blockchain startups in Crypto Valley raised $283.5m.


Global Impact: In 2023, Crypto Valley, spanning Switzerland and Liechtenstein, thrives with assured regulation and a resolute decentralized approach. The CV VC Top 50 Report 2023 published in partnership with MME, underscores the region’s pivotal role as its incumbent blockchain sector evolves into a multi-billion dollar landscape, extending beyond its Swiss origins and impacting globally.
Crypto Valley Top 50 Sector Insights:

Blockchain networks (34%) and financial services (26%) dominate, followed closely by data management (16%) and infrastructure (14%).
There’s a notable rise of DeFi, Gaming, and other Web3 companies, with 5 making it into the Top 50 for 2023.


Notable Venture Funding Facts:

Crypto Valley remains at parity with the global average deal count change, outperforming the European continent.
Crypto Valley represents 4.8% of all global blockchain venture deals, up from 4.1%.
Crypto Valley secures an all-time high of 20.4% of European blockchain deals, up from 17.9%.

Blockchain businesses in Crypto Valley account for 10% of all venture funding and 19% of all venture deals in the region in 2023. Zug, Geneva, and Zurich contribute 81% of all blockchain startup venture funding in Crypto Valley across 35 deals, with Zug leading at 17 deals.


Crypto Valley spearheads the advancement of decentralized, trust-based systems through blockchain technology and infrastructure initiatives, driving technology for a world without economic borders. Beyond its stable of 14 Unicorns, newly arrived businesses and associations such as DAO Swiss will join the 1,290 industry entities building the future.
Meanwhile established players’ recent fundraises, such as by Gentwo, Swissborg, and Taurus showcase the sector’s steady growth. Swissborg operates a community-centric cyber bank platform, and Taurus enables financial institutions to tokenize various assets. Gentwo focuses on securitizing both bankable and non-bankable assets, expanding the investment universe.
In one of the largest deals globally, Metaco, the Swiss digital assets custody firm was acquired by Ripple, a US company. New blockchain Unicorns such as Hedera and Copper stand out for their unique contributions, offering efficient and secure solutions in distributed ledger technology and digital asset infrastructure, respectively.


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/news-overview-the-leading-crypto-valley-top-50-companies-in-2024</link><guid>3527</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/02/Klarpay-Simplifies-Global-Micropayments-for-Digital-Businesses.jpg</dc:content ><dc:text>News Overview: The Leading Crypto Valley Top 50 Companies in 2024</dc:text></item><item><title>Bank Frick vergibt Stipendium für Blockchain-Studium</title><description><![CDATA[
									
					
							
					Das Bank-Frick-Stipendium in Höhe von 9800 Franken für den Zertifikatsstudiengang Blockchain und FinTech 2024 geht an Sven Lagger. Der Masterstudent hat durch sein fundiertes Verständnis der vernetzten Blockchain-Technologie überzeugt.
Die Bank Frick hat zum wiederholten Mal ein Stipendium in Höhe von 9800 Franken für den zertifizierten Studiengang Blockchain und Fintech an der Universität Liechtenstein vergeben. Träger des Bank-Frick-Stipendiums ist gemäss einer Medienmitteilung der Masterstudent Sven Lagger aus dem österreichischen Göfis.
Dem Stipendiaten kamen im Bewerbungsverfahren seine soliden Vorkenntnisse im Bereich von Blockchain-Technologien zugute. Lagger studiert Master of Science in Wirtschaftsinformatik an der Universität Liechtenstein und konnte durch seine bisher erworbenen Kenntnisse im Bereich der speziellen vernetzten Datenbanksysteme überzeugen.






Der laut der Mitteilung „hochkarätig besetzte” Studiengang, der laufend überarbeitet werde, sei weit über die Landesgrenzen hinaus bekannt. Die praxisnahe Vermittlung von Kenntnissen im Bereich der technologischen Neugestaltung bestehender finanzwirtschaftlicher Systeme stehe im Vordergrund.
Studierende erwerben ein sicheres Verständnis der vernetzten Systeme und deren Auswirkungen auf neue Geschäftsmodelle und Wertschöpfungsnetzwerke. Zudem erhalten sie einen Überblick über technologische, rechtliche und steuerliche Aspekte.
Martin Angerer
Martin Angerer, Studienleiter des Zertifikatsstudiengangs Blockchain und FinTech und des MSc in Finance, bezeichnet die Kooperation mit der Bank Frick als Erfolgsmodell.
„Eine grosse Teilnehmerzahl, hohe Nachfrage nach dem Stipendium und nach weiteren Projekten beweisen eindrucksvoll die grosse Relevanz für das Land, aber auch für die gesamte Rheintalregion“.




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			&#13;
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		]]></description><link>https://fintechnews.eu/bank-frick-vergibt-stipendium-fur-blockchain-studium</link><guid>3526</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Bank Frick vergibt Stipendium für Blockchain-Studium</dc:text></item><item><title>Inventx Board Member Joins Ti&amp;m</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 22, 2024
																				





					
					
							
					Ti&amp;m announched that the experienced banking and consulting expert Pascal Wild as the new Head of Consulting to the Executive Board.
Thomas Wüst
“With his many years of experience, his extensive technological know-how and his broad network, Pascal Wild is the ideal match for ti&amp;m. He will provide important strategic impetus for consulting and drive forward new business models together with our clients,”
says Thomas Wüst, founder and CEO of ti&amp;m.
Pascal Wild
In his long career, the graduate in business informatics has worked in various positions in the IT and financial sectors, most recently as a member of the management board at Inventx, where he was responsible for the banking division. This includes application operations, the further development of the banking platform and consulting. He has also worked for Deloitte, IBM and InCore Bank.






We are particularly pleased that no expertise will be lost for ti&amp;m as a result of this personnel change. Pascal Wild’s predecessor Holger Rommel will continue to work for ti&amp;m as Head of Delivery and Executive Consultant.

Featured image credit: Pascal Wild as the new Head of Consulting to the Executive Board, ti&amp;m


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		]]></description><link>https://fintechnews.eu/inventx-board-member-joins-tim</link><guid>3525</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/With-Pascal-Wild-Another-Banking-It-Heavyweight-Joins-tim-1440x564_c.jpg</dc:content ><dc:text>Inventx Board Member Joins Ti&amp;m</dc:text></item><item><title>N26 Begins Rollout of New Stock and ETF Trading Product</title><description><![CDATA[
									
						
																				
																			
												
															
									by Company Announcement								
																						January 22, 2024
																				





					
					
							
					N26 announced the launch of a new Stock and ETF trading product that will allow all account holders to buy and sell stocks and ETFs for 0.90 EUR per trade, directly in the N26 app.
The launch of this new and comprehensive trading product will see N26 continue to expand its offer beyond its digital bank accounts, bringing customers more solutions in savings and investments.
With financial independence increasingly front-of-mind for all customers, a growing number of Europeans aspire to proactively build their wealth. N26 Stocks and ETFs aims to make managing and building one’s investment portfolio simple and accessible to all. The new product will allow customers to buy and sell partial shares of some of the most popular European and US assets on the global equity markets at a market-leading execution price, thanks to N26’s partnership with Upvest.







The new product will be gradually made available starting today in the form of an early version to eligible customers in Austria, offering fractional investing in more than 100 ETFs, with orders starting from 1 EUR. The product’s simple and transparent pricing structure of a fixed 0.90 EUR per trade offers customers access to the equity markets at one of the most competitive prices in the market. N26 will also shortly roll out free trades with its premium memberships.
N26 plans to expand the range of assets offered to trade to the full suite of over a thousand stocks and ETFs in the coming months to customers in both Germany and Austria, with further availability in additional markets to be announced in due course. In the coming months, customers will also be able to invest on a recurring basis with fee-free Savings Plans.
Valentin Stalf
Valentin Stalf, CEO at N26, said:
“Following the launch of N26 Instant Savings and N26 Crypto, N26 Stocks and ETFs will give our customers the ability to manage all their finances within the N26 app. Our customers can spend, save and invest within one app at extremely competitive rates, with no hidden fees and an exceptional user experience.”
Customers will easily be able to view a summary of their Stocks and ETFs portfolio and purchased assets alongside their Instant Savings and N26 Crypto accounts to get a full view of their finances with N26.
N26 account holders who have successfully completed N26’s identity verification and eligibility checks will be able to sign up to open their trading account in a matter of seconds to begin investing. Funds for purchasing stocks and ETFs can then be easily moved from the main account to the trading account and invested with just a few taps.


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		]]></description><link>https://fintechnews.eu/n26-begins-rollout-of-new-stock-and-etf-trading-product</link><guid>3523</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/N26-Begins-Rollout-of-New-Stock-and-ETF-Trading-Product-1440x564_c.jpg</dc:content ><dc:text>N26 Begins Rollout of New Stock and ETF Trading Product</dc:text></item><item><title>DACH’s Biggest Fintech VC Funding Rounds of 2023</title><description><![CDATA[
									
					
							
					The DACH region, encompassing Germany, Austria and Switzerland, has been experiencing significant growth in its fintech sector, driven by a combination of factors including technological advancements, regulatory support, and increasing consumer demand for digital financial services.
This growth has elevated the region to the status of leading fintech hubs in Europe, with cities including Berlin, Zurich and Hamburg, in particular, being acknowledged among the world’s top 30 influential fintech cities, a report by fintech research and analytics firm Findexable says.
However, despite the growth, the DACH region witnessed a notable decline in fintech funding in 2023. In Q2 2023, DACH recorded 64 fintech deals down 32% compared to the same period the previous year, data from Fintech Global show. Investment in DACH-based fintech companies amounted to US$376 million, representing a year-on-year (YoY) decrease of 56%.






In spite of the challenges, the fintech sector in DACH managed to secure notable fintech venture capital (VC) funding rounds in 2023. Today, we look at some of the largest funding rounds secured by DACH fintech startups last year, focusing on VC funding solely and excluding debt funding.


Scalable Capital – EUR 60 million, Series E extension

In December 2023, Scalable Capital, a leading European digital investment platform, secured EUR 60 million in equity financing in an extension of its Series E round. The company said it would use the proceeds to deliver further growth and fuel the expansion of Scalable Capital’s brokerage platform across Germany, Austria, Italy, France, Spain, and the Netherlands.
Founded in 2014 and headquartered in Munich, Scalable Capital provides retail investors easy and affordable access to investment opportunities. Originally a digital wealth management service, it expanded in 2020 into a full-service brokerage. The platform now operates in five European countries, allowing clients to invest in a variety of financial instruments, including exchange traded funds (ETFs), stocks, funds, bonds, cryptocurrencies, and derivatives. With over two-thirds of investments in ETFs, Scalable Capital oversees more than 1.2 million savings plans.
Raisin – EUR 60 million, Series E

In March 2023, Berlin-based savings and investment specialist Raisin raised EUR 60 million in a Series E funding round from existing and new investors. With the new investment, Raisin aims to give more consumers access to simple and convenient products by investing in new features, even simpler processes and broader accessibility, and to accelerate growth in expanding markets such as the US, where Raisin entered in 2020 and added over US$1 billion worth of assets under management (AuM) in 2022 alone.
Raisin recently exceeded 1 million customers, for which a total of EUR 850 million in interest has been generated since the company was founded back in 2012. The startup has been profitable for half a year and currently manages a total of EUR 38 billion AuM for customers globally.
Operating in the European Union (EU), the UK, and the US, Raisin is a leading global savings and investments marketplace. The company offers a diverse range of savings, investment, and pension products, providing customers with a broader choice of attractive options for managing their finances.
Raisin operates business-to-consumer (B2C) marketplaces under various brands, including Raisin, WeltSparen, ZINSPILOT (in Europe), and SaveBetter (in the US). In Germany the company offers ETF-based investment and retirement products as well as private equity and cryptocurrency investments, in addition to savings products. Raisin works with over 400 banks and financial service providers from more than 30 countries.
Taurus – US$65 million, Series B

In February 2023, Swiss digital asset infrastructure provider Taurus announced a US$65 million Series B capital raise from strategic investors. The company said it would use the proceeds to support its growth strategy across three main priorities: hire top engineering talent to further develop what is considered as the most complete platform in the industry; get closer to clients and expand the sales and customer success organization of its infrastructure solutions with new offices Europe, UAE and soon after in the Americas and Southeast Asia; and maintain the most stringent security, risk and compliance requirements across product lines, processes and organizations.
Founded in 2018 and headquartered in Geneva, Taurus provides enterprise-grade solutions for financial institutions to issue, custodize and trade digital assets. The company has established itself as one of the leading digital asset infrastructure providers for Tier 1 banks in Europe, including Deutsche Bank, Pictet, Swissquote and Vontobel. It claims it serves more than 25 financial institutions and corporate clients in eight countries and three continents.
Wefox – US$55 million, Series D

Wefox, the Berlin-based insurtech, secured in May a US$55 million credit facility from JP Morgan and Barclays alongside a US$55 million second close in its Series D at US$4.5 billion valuation from existing investors and new investors including Squarepoint Capital. The new funding is earmarked to further strengthen Wefox’s insurance and distribution business, which includes the recent launch of a global affinity business, and developing the technology platform.
The funding came on the heels of Wefox delivering a record first quarter financial performance, signaling the company’s clear path towards profitability.
Founded in 2015, Wefox is a insurtech platform that is connecting insurance companies, distributors, and customers, to give consumers simple access to digital insurance solutions. The company’s goal is to keep people safe by making insurance 10-times better through technology. Wefox is the parent company of Wefox Insurance, which is the in-house regulated insurance carrier. The company claims two million customers.
Solaris – EUR 38 million, Series F

In July 2023, embedded finance platform Solaris announced the first close of its Series F round, securing EUR 38 million. The company said it would use the proceeds to strengthen governance and compliance and lay the foundation for its next phase of growth.
Despite a challenging year 2022, Solaris demonstrated resilience, closing the fiscal year with net revenues of EUR 130 million representing a 30% growth compared to the previous year.
Founded in 2015 and headquartered in Berlin, Solaris is a leading embedded finance platform and a pioneer in the banking-as-a-service (BaaS) market. Solaris’ proprietary modular business-to-business (B2B) tech stack and scalable licensing system empowers its partners, including large global non-financial companies and innovative fintech companies, to offer unique, customer-centric financial services. The company currently employs more than 800 people at ten locations in Europe and India.
Upvest – EUR 30 million

Berlin-based investment infrastructure provider Upvest announced in October 2023 the successful closure of a EUR 30 million funding round. The round was led by Upvest’s existing investors Bessemer Venture Partners, HV Capital, Earlybird, Notion, ABN Amro Ventures, Partech, and 10x Capital, with a new addition from BlackRock.
Upvest said it would use the proceeds to strengthen its position as the investment API category leader, enhance its product offering and fuel its regional expansion.
Founded in 2017, Upvest enables financial institutions to offer superior investment experiences to their customers. Upvest’s API-based investment infrastructure enables real, physical fractional investing across ETFs, stocks and mutual funds, lowering the entry barriers for investments to as little as EUR 1 in any asset class. Upvest is an investment firm regulated by the German supervision authority. The company currently employs 150+ people across Europe.

Featured image credit: Edited from freepik



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	]]></description><link>https://fintechnews.eu/dachs-biggest-fintech-vc-funding-rounds-of-2023</link><guid>3524</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>DACH’s Biggest Fintech VC Funding Rounds of 2023</dc:text></item><item><title>Experts Meet in Davos to Discuss How India’s UPI and Digital Public Infrastructure Has Helped Reduce Inequalities</title><description><![CDATA[
									
					
							
					On 16th January, during the Davos Innovation Week hosted by World Innovation Economics Limited, a panel discussion was held on the above topic.
The panel discussion was graced by Mr. Sanjeev Sanyal (Economic advisor to PM Modi), Mr. Phillip Weights (renowned Swiss banking leader), Mrs Efi Pylarinou (Swiss fintech influencer), Mr Ashok Ranadive (Ex Indian Navy, Ex Google, Entrepreneur and Investor).
Phillip Weights, Sanjeev Sanyal, Efi Pylarinou, Ashok Ranadive at Davos Innovation Week
The panel discussed about UPI, Digital Public Infrastructure, India Stack 2.0, CBDC, Blockchain, Data privacy.






All the panelists praised India’s rapid inclusive growth due to its robust digital public infrastructure, good governance and inclusive growth. Panel also discussed how technologies like UPI can be in future exported to US or EU as it is better alternative than SEPA and SWIFT.
During the panel, Mr Sanjeev Sanyal gave emphasis on India’s Digital Stack 2.0 and how India is building its next level of Digital Public Infrastructure.
Mr Philip Weights talked about Swift, Global banking and new payments system.
Mr. Ashok Ranadive talked about how India’s digital public infrastructure is better than USA. How UPI is better than US banking and SWIFT.
Mrs Efi Pylarinou at Davos Innovation Week
Mrs Efi Pylarinou spoke about Blockchain, CBDC and also praised India’s UPI system.


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		]]></description><link>https://fintechnews.eu/experts-meet-in-davos-to-discuss-how-indias-upi-and-digital-public-infrastructure-has-helped-reduce-inequalities</link><guid>3521</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Davos-Innovation-Week-speakers-225x300.jpg</dc:content ><dc:text>Experts Meet in Davos to Discuss How India’s UPI and Digital Public Infrastructure Has Helped Reduce Inequalities</dc:text></item><item><title>McKinsey: Digitalization, Generative AI, New Market Structures Among Key Changes Shaping Investment Banking</title><description><![CDATA[
									
					
							
					The corporate and investment banking (CIB) sector is undergoing a significant transformation, marked by several major shifts including technological advancements in client engagement, changes in the regulatory and risk management environment, and new market structures, which are creating both opportunities and challenging for the industry, a report by global consultancy McKinsey and Company says.
The report, titled “Five big shifts shaping a new world for corporate and investment banks”, explores the state of the global CIB sector, delving into emerging trends in the industry and sharing key strategies CIBs can adopt to tackle the opportunities and challenges ahead.
According to the report, new technologies including intelligent process automation, machine learning (ML), advanced analytics, cloud adoption, and generative artificial intelligence (AI), are transforming operations in CIB and changing the ways in which organizations can engage with their clients.






Technological advancements are arising alongside a shift in consumer preference towards digital channels. Citing findings from a prior study, the report notes that 70% of CIB clients want to migrate all financial transactions to digital channels; 50% want to manage their short-term lending needs in a fully digital way; and 40% prefer remote interactions with relationship managers when discussing new products.
These trends and findings suggest that offering a truly digitally enabled front office has become crucial for CIBs, McKinsey says, urging organizations to invest strategically in technology and capabilities most closely tailored to their unique client and product franchises.
The potential of generative AI
One technology in particular that’s highlighted in the report is generative AI. Generative AI refers to a class of AI systems designed to generate new, original content autonomously. The technology can be applied across a broad range of use cases to automate routine tasks, improve efficiencies, and enhance recommendation engines and customer experiences.
McKinsey estimates that generative AI could improve productivity in core CIB activities by between 30% to 90% in individual use cases, potentially adding up to about 10% of CIB operating profits in the long run.
In CIB, the report notes that generative AI is mostly applied in three areas, citing new product development, client operations, and marketing and sales as the most prominent functions in which the technology is now being used.
In product development, generative AI is used to accelerate software delivery, using so-called code assistants to help with code translation and bug detection and report. These tools can also improve legacy code, rewriting it to make it more readable and testable and then documenting the results, the report says.
In client operations, generative AI is used to extract, search and summarize unstructured servicing information. In post-trade services, the technology is able to read documentation on corporate actions and assess the implications for clients and products, while in the middle office, generative AI is used to automate manual tasks, creating first drafts of environmental, social, and governance (ESG) and audit reports or even basic loan contracts.
Finally, in marketing and sales, generative AI is used to take over all voice and text interactions with clients, helping answer questions on topics such as investment ideas, sales, and product policies nearly instantly, and reducing time to respond to clients from hours or days down to seconds. The technology can also help junior relationship managers with training simulations and call transcripts, and can be used to create viable marketing content such as market recaps, research reports, and pitch books.
To capitalize on the opportunities brought about generative AI, McKinsey advises CIB organizations to choose the right use cases and build scalable capabilities, stressing that key elements for successful implementation include a strategic roadmap, talent development, data optimization, and modern technology infrastructure.
The consultancy warns however that CIB organizations must be mindful of risks related to generative AI, such as bias, privacy concerns, security threats, ESG impact, and computing costs.
To mitigate these risks, organizations should plan meticulously and establish robust AI governance frameworks that help ensure attention to data selection, continuous performance monitoring, and periodic, unbiased testing and auditing, the report says. These emerging technologies call for a reevaluation of current operating models and a fresh focus on risk management strategies.
New market structures
Another trend highlighted in the McKinsey report is the shift in the structure of the CIB market with increased competition from nonbanks.
Originally operating in areas adjacent to wholesale banking such as private equity and retail payments, nonbanks have over the past years managed to scale their value propositions to target some of the same client segments as CIB organizations.
But the biggest disruption is arguably in leveraged lending where direct lenders are rapidly gaining ground, the report says. In March 2023, direct lending assets under management (AUM) globally reached US$760 billion, carrying on a 27% per annum growth rate since 2012. The surge in direct lending is expected to continue, driven by substantial private equity dry powder and expansion into larger deals and various debt instruments.
Global assets under management breakdown, US$ billion, Source: Five big shifts shaping a new world for corporate and investment banks, McKinsey and Company, Dec 2023
McKinsey advises CIB organizations looking to respond to the rise of direct lenders to consider revisiting their on-balance-sheet lending approach and taking advantage of off-balance-sheet partnerships and funds. However, prudent risk management is crucial given concerns about direct lending asset performance. Key risks to consider include rising interest rates, economic slowdowns, limited historical data on performance during recessions, and growing regulatory scrutiny.
The rise of digital assets
Finally, the McKinsey report highlights the rise of digital assets, a phenomenon that has prompted CIB organizations to explore the potential of the technology through tokenization.
Tokenization refers to the process of issuing a digital representation of an asset on a blockchain platform. These assets can be real-world assets such as real estate, commodities, and art; financial assets such as equities or bonds; or other non-tangible assets such as digital art and intellectual property.
Tokenization brings about many benefits including 24/7 operations, instantaneous settlement, and composable programmability, the report says, promising improved capital efficiency, operational costs, compliance, transparency, and market access.
Although the report notes that tokenization is still at an early-stage of adoption, the industry is showing signs of growth and development. It notes significant advances in cash tokenization with now US$120 billion of tokenized cash in circulation, emerging regulatory frameworks, better short-term business case fundamentals and a maturing infrastructure.
For CIB firms looking to tap into the potential of digital assets and tokenization, McKinsey advises them to consider building their understanding of the technology and its associated risks, especially in the areas of wallet infrastructure and management duties, and system design. They should also consider establishing ecosystem relationships, and participating in efforts to set standards for the sector.
The state of the global CIB industry
CIB organizations have faced multiple challenges over the past decades but have against all odds managed to remain resilient and recover. In 2022, CIB organizations generated US$2.9 trillion of revenue, representing 44% of the global banking revenue pool and an average growth rate of more than 5% per annum since 2020.
Commercial lending and cash management accounted for more than 80% of CIB revenues that year, reflecting the sector’s tight link to the real economy. In contrast, more complex and volatile products such as specialized lending, investment banking, and sales and trading, accounted for less than 20% of CIB revenues.
Banking revenue, Source: Five big shifts shaping a new world for corporate and investment banks, McKinsey and Company, Dec 2023


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	]]></description><link>https://fintechnews.eu/mckinsey-digitalization-generative-ai-new-market-structures-among-key-changes-shaping-investment-banking</link><guid>3522</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>McKinsey: Digitalization, Generative AI, New Market Structures Among Key Changes Shaping Investment Banking</dc:text></item><item><title>Why Does the Insurance Industry Need Middle-Layer Architecture?</title><description><![CDATA[
									
					
							
					Have you ever used multilingual websites and applications? Companies that would like to provide multilingual and multi-platform experiences to their customers don’t develop separate apps for this purpose. They are just following the middle-layer approach to IT architecture. So, what is it, and why do insurers need it?
Middle-layer architecture explained
The widely recognized client-server architecture is familiar to all. It’s commonly understood that an intermediary element exists between the client and server sides. In many instances, this software framework is composed of intermediary layers, each catering to specific purposes. When these layers can function autonomously, the architecture is referred to by various names like “layered,” “multi-layer,” “middle-layer,” “tiered,” “n-tier,” and similar terms.
Below are the typical layers of multi-layer architecture:

The presentation layer displays the content through a graphic user interface. This layer is accessible via laptops, mobile phones, desktops, etc. The element presenting content is a website that can be accessed through a browser, a mobile app, or any other element via which people can communicate with the system.
The application layer represents the business logic, which defines the rules according to which the app works. This layer may include several elements functioning as independent layers with similar functionalities.
The persistence layer offers database storage and allows the rest of the layers to access the necessary data. Therefore, users have the capability to interact with the database via the user interface, following the business logic defined by the application layer.

How it works?
The essentials of multi-layer architecture define almost all principles of software engineering. So, software architects and business owners consider the development projects regarding server, client, and middle layers. In their turn, development jobs are divided across the teams responsible for each layer. Let’s take a closer look at how n-tier architecture works:

It allows flexibility modifying and managing various system components while developing and operating. Scalability is ensured when it is needed.
Various components of the layer are interdependent, which allows for easy app deployments.
In intricate projects, components can span multiple physical layers, communicating through networks without requiring constant engagement of the entire system from top to bottom.
The application (business logic) layer works as a middle layer that guides and channels data flows according to the user’s input.

Advantages of n-tier architecture
One of the key benefits of layered architecture is its ability to simplify IT infrastructure management. Among other advantages, we can distinguish the following:

Cloud-based apps are easier and cheaper to develop using this architecture type
Legacy systems can be quickly upgraded
Customization is easier to do
No difficulties in understanding the functionalities of each layer

However, it is essential to remember that layered architecture design and development requires in-depth business analysis, special skills and knowledge, and much time and effort. So, you should carefully choose a software vendor experienced in designing multi-layer architecture.
How are digital transformation and n-tier architecture connected?
The flexibility brought about by multi-layer architecture enhances business values in the digital transformation era. This is particularly important for well-established industries striving to align with customer expectations. Numerous enterprises within these sectors display hesitate to update their applications rooted in outdated frameworks.
Large international insurance companies are among the industries that strive to continuously improve customer experience. Insurers understand that legacy core systems are becoming a challenge for both clients and employees. However, it’s pretty difficult to quit using this software since insurance operations can’t be stopped. To sum it up, among the most frequent hurdles insurers need to overcome are the following:

Outdated systems can’t meet modern customer expectations.
Vertical architecture is difficult to modify into horizontal architecture.
Developing new modules atop outdated systems won’t help—some useful functionalities like CRM or data analytics can’t be implemented without middle layers.

The solution is to develop n-tier architecture on top of the legacy core or from scratch. Here are some tips on building multi-layered architecture:

Partition the application into tiers by creating autonomous components, each accountable for specific segments of the business logic.
Layers can be located across servers to create a horizontal architecture.
Enhance the current core layer by integrating one or more service layers that can collaboratively handle the business logic present in the original core.

Regardless of all the challenges, insurance core systems can be transferred to layered platforms with the help of professional software vendors.
Features to consider for layered platforms in insurance
The project stakeholders and developers should consider the following concerns to implement the required functionalities.

Locations where the company operates
Languages users use
Staff diversity (managers, agents, leadership, etc.)
Data access level
Compliance with laws, regulations, and policies of countries where the company operates
Data security rules and measures
Data analytics and dashboards
Customer experience
Alignment of business processes with CX
Features that will differentiate the company from its competitors

All these aspects should be carefully discussed, discovered, and formalized before developing layers. Their number will depend on the company’s requirements and the readiness to embrace digital transformation. Typically, these layers can be divided into the following areas:
The digital layer is all about user interface and user experience. UX should be considered both for clients and agents. Here, the following features should be developed: web and mobile user interfaces, chatbots if needed, notifications, data collection tools, APIs, CMS and CRM systems, and solutions for customer support and onboarding.
The decoupling layer ensures asynchronous data collection from diverse sources to process and keep it in one centralized place. This area is created according to the event-driven and microservices-based approach to architecture.
The insights layer supports the legacy system’s monolith architecture and provides BI, analytics, data security, and other features.As you see, modern approaches to legacy insurance systems can be applied to custom solutions and legacy systems, as well.
Conclusion
The tiered structure embodies a contemporary software development methodology for complex, user-friendly systems. Intermediary layers possess the potential to significantly enhance the capabilities of seemingly unmodifiable legacy core platforms, which are widely prevalent in the insurance domain. This intermediate architecture furnishes them with opportunities for digital transformation substantial enough to facilitate a paradigm shift towards a different echelon of service – Insurtech.
Effecting the conversion of a legacy insurance system into an Insurtech platform necessitates a well-rounded development team comprising specialists proficient in the various layers intrinsic to multi-tier architecture. Moreover, practical involvement in executing such a transition holds immense value.

Featured image credit: image via freepik


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		]]></description><link>https://fintechnews.eu/why-does-the-insurance-industry-need-middle-layer-architecture</link><guid>3520</guid><author>Administrator</author><dc:content /><dc:text>Why Does the Insurance Industry Need Middle-Layer Architecture?</dc:text></item><item><title>10x Banking Raises US$50M, Appoints New Chief Revenue Officer</title><description><![CDATA[
									
					
							
					10x Banking, a cloud-native SaaS core bank operating system founded by former Barclays CEO Antony Jenkins, has recently raised US$50 million in a new funding round and appointed Matt Mills as Chief Revenue Officer.
The funding round, led by BlackRock and JPMorgan Chase, aims to support the company’s growth in the competitive core banking market.
Matt Mills, previously with Featurespace, has joined 10x Banking this month, adding to the company’s leadership team.






The company’s growth in the UK has led to expansion into Australia and New Zealand, with further strategic growth anticipated.
10x Banking’s platform, designed to assist banks in their digital transformation, played a key role in Chase’s foray into the UK retail banking sector.
Matt Mills
“There has never been a more exciting time for banking transformation and core modernisation, as banks across the world embark on this journey. I’m incredibly excited to have joined a company with the strongest offering in this space, offering unparalleled resiliency and scale, combined with flexibility and speed beyond the rest of the market.

Our mission is to enable banks to make banking better for their customers and society – 2024 is already set to be the most significant in our history, and I’m excited to be part of this journey.”
said Mills.


Featured image credit: Chief Revenue Officer, Matt Mills


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		]]></description><link>https://fintechnews.eu/10x-banking-raises-us50m-appoints-new-chief-revenue-officer</link><guid>3519</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>10x Banking Raises US$50M, Appoints New Chief Revenue Officer</dc:text></item><item><title>Crypto Regulation Advances Though Jurisdictional Disparity Remains Key Issue</title><description><![CDATA[
									
					
							
					Notable developments occurred throughout 2023 to advance digital asset regulation, including the release of global regulatory frameworks, crypto-assets policies, and prudential standards. But despite advancements in creating a well-functioning, secure and sustainable ecosystem for cryptocurrencies and digital assets, there is still much work to be done, especially when it comes to jurisdictional equivalence, a new report by the global consultancy PwC says.
The report, titled “Navigating the Global Crypto Landscape with PwC: 2024 Outlook” and released in December 2023, provides an overview of the global regulatory landscape, exploring how regulatory frameworks are developing across the world and the impact of new regulations on crypto and traditional financial services firms.
According to the report, regulators were actively working on advancing cryptocurrency and digital asset regulations in 2023, with many countries recognizing the need to establish clear regulatory frameworks to address issues such as consumer protection, financial stability and anti-money laundering concerns associated with the growing market.






Key regulatory developments in 2023 included the release of a regulatory framework for crypto-asset activities and crypto-asset roadmap in July 2023 by the Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system. The framework comprises two interconnected sets of recommendations: one addressing the regulation, supervision and oversight of crypto-asset activities, and the other focusing on revised recommendations for global stablecoin arrangements.
The FSB is now working closely with other standard-setters to ensure coordination, mutual support, and complementarity in the monitoring and regulation of crypto-asset activities and markets. The organization plans to review the implementation status of the recommendations at the jurisdictional level by the end of 2025 and says it will continue its work on assessing the policy implications for decentralized finance (DeFi).
The International Organization of Securities Commissions (IOSCO) also published several recommendations in 2023, addressing DeFi risks in September and sharing its views on how to regulate crypto and digital assets markets in November.
But most noteworthily, 2023 saw the entry into force of the European Union (EU)’s Markets in Crypto-Assets Regulation (MiCAR). The groundbreaking regulation, which came into force in June 2023, offers a harmonized regulatory framework for crypto-assets in the bloc, replacing the patchwork of individual member states’ national framework on the regulation of the new asset class.
MiCAR is the world’s the first cross-jurisdictional regulatory and supervisory framework for crypto-assets, and covers nearly all business activities related to crypto-assets taking place in the EU. Non-EU crypto-asset firms carrying out activities for EU customers must also comply with MiCAR’s requirements.
Timeline for MiCAR implementation, Source: Navigating the Global Crypto Landscape with PwC: 2024 Outlook, PwC, Dec 2023
For digital asset firms, choosing the right jurisdiction for incorporation and operational base is a critical matter that must be considered thoroughly, the PwC report says. Several factors must be taken into account, including the jurisdiction’s regulatory maturity, cost of operations, available talent pool and the global reputation of the jurisdiction.
Crypto native firms should favor jurisdictions with a mature regulatory regime which offers certainty, legitimacy and protection for service providers and consumers, while fostering a conducive and competitive environment for innovation and growth, it advises.
Operators should also consider the operational costs associated with doing business from a certain jurisdiction, taking into account the cost of obtaining and maintaining a license or registration, tax obligations and reporting requirements.
The size of the local talent pool is also critical. Locations such as Switzerland, Singapore, Hong Kong and Malta, in particular, have well-established talent pools with deep subject matter expertise in digital assets and blockchain technology. These locations have emerged into leading crypto hubs thanks to supportive regulatory frameworks and investment in blockchain education and research, the report notes.
Finally, jurisdictional reputation is another important factor to consider. It typically signals whether or not a country has a stable and transparent regulatory framework, which is essential for the growth and development of the digital asset industry. Investors and businesses tend to choose jurisdictions with a positive reputation which provide them with a sense of security and assurance that their rights and interests will be protected, the report notes.
To conclude, it says that while progress has been made over the years to provide regulatory clarity, some challenges remain that digital asset firms must cope with, including jurisdictional disparity.
For digital asset firms, navigating through contradictory regulatory obligations across countries with varying levels of regulatory maturity poses challenges and can lead to operational complexity. While Europe and the Middle East have made significant progress in providing comprehensive guidance, other locations such as the US have complex and fragmented regulatory systems with overlapping and conflicting mandates between federal and state agencies, the report notes.
It advises that as the crypto regulatory landscape continues to evolve, digital asset firms looking to operate in numerous territories must design internal standards complying with the strictest and most reputable regulatory jurisdictions.
Cryptocurrencies have gained widespread adoption and legitimacy over the past decade. Just this week, the US Securities and Exchange Commission (SEC) approved the first bitcoin exchange-traded funds (ETFs) in the country, marking a watershed moment for the crypto industry and improved accessibility of bitcoin for institutional investors.
The eleven spot bitcoin ETFs, which began trading on January 11, saw US$4.6 billion worth of shares trade hands by the end of their first day of trading, Reuters reported.
Bitcoin is currently trading at US$45,000, up 7% from the start of 2024 and 164% from a year prior, data from Coinmarketcap show.

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	]]></description><link>https://fintechnews.eu/crypto-regulation-advances-though-jurisdictional-disparity-remains-key-issue</link><guid>3518</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Crypto Regulation Advances Though Jurisdictional Disparity Remains Key Issue</dc:text></item><item><title>Commerzbank Forms New Digital Payment Venture Globalpay</title><description><![CDATA[
									
					
							
					Commerzbank and Global Payments, a leading worldwide provider of payment technology and software solutions, announced a joint venture to offer digital payment solutions to small and medium size business customers across Germany.
The new entity, Commerz Globalpay GmbH, is expected to launch in the first half of 2024 and will provide a comprehensive suite of innovative omnichannel payment and software solutions at scale, providing a one-stop-shop for merchants to run and grow their businesses more efficiently.
Commerzbank will hold a 49 percent stake in the company, which will be based in Frankfurt and Global Payments will hold 51 percent.






The joint venture unites two strong brands. Commerzbank brings the knowledge and customer relationships within the German small and medium sized business market, while Global Payments brings commerce enablement solutions and distinctive payment offerings.
Commerz Globalpay GmbH will offer digital payment capabilities, including Global Payments’ smartphone-based payment applications that enable merchants to accept mobile payments without a separate card reader, modern card terminals and e-commerce/mobile payment solutions, all integrated to deliver seamless omnichannel experiences. Furthermore, business customers will have access to a variety of leading value-added services, including cloud-based point-of-sale software, customer loyalty programmes, an analytics and customer engagement platform, and more.
Thomas Schaufler
“With this joint venture with Global Payments, we are investing in modern forms of payments at the highest level. Through simple solutions, new products, and technologies provided by Global Payments, we are creating an optimal experience for Commerzbank customers. This makes the project an important part of our strategy update to create added value and excellence for our customers,”
said Thomas Schaufler, member of the Board of Managing Directors responsible for Private and Small-Business Customers at Commerzbank.
Cameron Bready
“Commerzbank is the ideal partner to expand our presence in Germany to deliver industry-leading services to merchants across the country,”
said Cameron Bready, President and CEO of Global Payments.
“This joint venture significantly enhances distribution for our distinctive payment offerings and commerce enablement solutions in an attractive growth market where there are substantial opportunities to digitize the payment experience.”
The completion of the transaction is subject to the approval of the responsible supervisory and antitrust authorities.

Featured image credit: edited from Unsplash


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	]]></description><link>https://fintechnews.eu/commerzbank-forms-new-digital-payment-venture-globalpay</link><guid>3517</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Commerzbank Forms New Digital Payment Venture Globalpay</dc:text></item><item><title>Zurich Based Card Payment Fintech Rivero Raises $7 Million Series A</title><description><![CDATA[
									
					
							
					Rivero, a Swiss Fintech specialising in digitalisation and automation of payment processes, announced that it has raised $7 million in a Series A round.
The round was led by 6 Degrees Capital and Inference Partners, with participation from Kraken Ventures, Seed X Liechtenstein, the venture arm of PostFinance and angel investor and former COO of Adyen, Robert Kraal, together with a long list of payment executives.
The investment will help Rivero accelerate its growth across new markets and boost its product development and workforce.






Founded in 2019, Rivero is a fast-growing European fintech. Headquartered in Switzerland, Rivero is aimed at simplifying payment operations for the highly regulated payments industry, filling a gap in the market for fraud recovery, dispute management and payment scheme compliance solutions. Leveraging the benefits of SaaS, Rivero’s products cater to all players in the payment ecosystem, but in particular towards issuing banks.
The fintech’s competitive edge is reflected in its two unique SaaS product offerings, which are focused on making costly and manual payment operations seamless. Kajo, the first product, is the only solution on the market for payment scheme compliance and enables all licensees of payment networks to minimise the effort and the risks involved in this process.
Its second product, Amiko, is the only SaaS solution that digitalises the entire fraud recovery and dispute process. This helps issuing banks efficiently manage this process while offering a unique self-service experience to their customers. Amiko empowers banks to promote consumer protection of card payments to their customers without being concerned with increasing volume or costs.
In just three years since its go-to-market, Rivero has secured partnerships with over 20 well-established financial institutions, ranging from issuing banks to acquiring banks and payment processors. In 2022, Rivero became the first Swiss Fintech to be selected for the Visa Fintech Partner Connect programme, a prestigious, game-changing initiative that provides the company with access to a selection of best-in-class and trusted technology partners.
Thomas Müller
Commenting on the Series A round, Thomas Müller, co-founder and CEO of Rivero, said:
“We’re thrilled to share the news of our Series A round. Especially given the current challenging market conditions. We take this as confirmation of our strong business model and clear market demand for our products.”

Featured image credit: Stephan Wächter, Head of Operations, Thomas Müller, Co-founder/CEO &amp; Fatemeh Nikayin, Co-founder/Growth


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	]]></description><link>https://fintechnews.eu/zurich-based-card-payment-fintech-rivero-raises-7-million-series-a</link><guid>3516</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Zurich Based Card Payment Fintech Rivero Raises $7 Million Series A</dc:text></item><item><title>Klarpay Simplifies Global Micropayments for Digital Businesses</title><description><![CDATA[
									
					
							
					In the ever-evolving landscape of digital businesses, micropayments have emerged as a pivotal financial mechanism, particularly on platforms hosting freelancers, creators, and gig workers.
These small-scale transactions are increasingly vital in a world where digital services and content are monetised incrementally, catering to the growing trend of microtransactions in various online economies.
From digital media to freelance services and content creation, micropayments enable a flexible, efficient, and user-friendly approach to handling financial exchanges in the digital domain.
What are Micropayments?
Micropayments refer to small-value transactions, typically below a certain threshold, executed online.
These transactions play a crucial role in the gig and creator economy, where individuals often receive compensation in small amounts for their work or content.
They are essential in online marketplaces, mobile applications, and content platforms (like social media and blogging sites) where transactions are usually frequent but of lower value.
How do Micropayments Work?
Micropayments work by leveraging streamlined and cost-effective payment infrastructures. Micropayments are generally quick, efficient, and low-cost transactions.
These are particularly beneficial for digital businesses that operate in the gig economy, where freelancers and creators may need instant access to their earnings.
The technology behind micropayments often involves secure digital wallets and blockchain technology, enhancing the speed and security of these transactions.
Consider a freelance graphic designer who offers digital art services online. Instead of waiting to accumulate a large sum, they receive small, regular payments for each design they create.
These micropayments allow the designer to access their earnings quickly and efficiently, ensuring their financial security.
Similarly, a content creator on a video platform might receive micropayments based on viewership and engagement, illustrating the diverse applications of this payment method.
Klarpay’s Role in Transforming Micropayments
Financial Institution Klarpay specialises in providing Swiss Corporate Accounts in 17+ currencies and 80+ payout currencies with local ACH capability, global payment acceptance, and efficient disbursement solutions, all of which are API-enabled.
Multi-Currency Accounts: Klarpay facilitates transactions in multiple currencies and multiple local clearing systems, enabling digital businesses to operate on a global scale.
This feature is particularly valuable for platforms that send payments to freelancers and creators around the world.
Global Payment Acceptance: Klarpay also ensures that digital businesses can accept payments from alternative sources globally.
This is crucial for platforms hosting freelancers and creators, allowing them to reach a broader audience without the hassle of dealing with currency conversion complexities.
Efficient Disbursement: Klarpay streamlines the disbursement process, making it easy for digital businesses to make micropayments to their freelancers and creators.
With Klarpay’s infrastructure, payments can be processed quickly, automatically (using APIs), and securely while meeting the instant and frequent payout needs of the gig economy.
Micropayments are at the forefront of transforming how digital businesses handle financial transactions.
Klarpay’s role as a financial institution is instrumental in providing the necessary tools for seamless, efficient, and secure multi-currency payouts, ensuring that freelancers and creators can focus on what they do best – creating and contributing to the digital landscape.
Get in touch with Klarpay here. 



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	]]></description><link>https://fintechnews.eu/klarpay-simplifies-global-micropayments-for-digital-businesses</link><guid>3515</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Get-in-touch-with-Klarpay.jpg</dc:content ><dc:text>Klarpay Simplifies Global Micropayments for Digital Businesses</dc:text></item><item><title>BIS, Swiss National Bank and World Bank Launch Token Project Promissa</title><description><![CDATA[
									
					
							
					Today, many international financial institutions (including multilateral development banks) are partly funded by financial instruments known as promissory notes, most of which are still paper-based.
While the current system provides the operational controls for member nations to make subscription and contribution payments to institutions like the World Bank, the custody of outstanding promissory notes can be digitised to address operational challenges and enhance efficiency.
Project Promissa is a joint experiment of the BIS Innovation Hub Swiss Centre, the Swiss National Bank and the World Bank that aims to build a proof of concept (PoC) of a platform for digital “tokenised” promissory notes. The International Monetary Fund is participating in the project as an observer.






Using distributed ledger technology, Project Promissa intends to simplify the management of the notes and provide a single source of truth for all counterparties throughout the notes’ lifecycles. That means that the government of a member nation and its central bank, acting as the designated custodian, will have a comprehensive overview of all notes outstanding with different international financial institutions. And, vice versa, international financial institutions, such as the multilateral development banks, will have uniform visibility of the outstanding notes held by different central banks.

The volume of promissory notes across international financial institutions is significant: for example, two of the World Bank’s largest entities, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), both have a substantial amount of notes pledged by member nations.
The goal is to complete the PoC and testing by early 2025.
While the project aims to simplify the management of promissory notes between member nations and international financial institutions, in the future it could be extended to include payments (or encashments) associated with such notes by integrating tokenised payment systems based on private or public money.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/bis-swiss-national-bank-and-world-bank-launch-token-project-promissa</link><guid>3513</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>BIS, Swiss National Bank and World Bank Launch Token Project Promissa</dc:text></item><item><title>Austrian Crypto Platform Bitpanda Sponsors Bayern Munich</title><description><![CDATA[
									
					
							
					FC Bayern and Bitpanda have agreed a multi-year partnership.
The Austrian company will be visible as the German record champions’ new Platinum Partner and official crypto trading partner for the first time as the Bundesliga season resumed aon 12 January 2024 and will be present at all Munich home matches in the future.






Jan-Christian Dreesen
Jan-Christian Dreesen, FC Bayern CEO:
“Bitpanda stands for quality and a long-term perspective. Like FC Bayern, Bitpanda is also the market leader in its field. We want to achieve our goals together in the future.”
Andreas Jung, FC Bayern board member for marketing:
“Bitpanda fits in very well with FC Bayern’s aspirations. Two strong brands that set standards are coming together here.”
Eric Demuth
Eric Demuth, Bitpanda CEO:
“Bayern Munich and Bitpanda are united by a strong winning mentality and the desire to improve every day. For us, these shared values are the perfect basis for a long-term partnership.”


Featured image credit: Jan-Christian Dreesen, FC Bayern CEO, Andreas Jung, FC Bayern, Eric Demuth, Bitpanda CEO and Lukas Enzersdorfer-Konrad, Bitpanda


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			&#13;
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		]]></description><link>https://fintechnews.eu/austrian-crypto-platform-bitpanda-sponsors-bayern-munich</link><guid>3514</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Austrian Crypto Platform Bitpanda Sponsors Bayern Munich</dc:text></item><item><title>Netcetera Appoints New MD for Digital Banking Division</title><description><![CDATA[
									
					
							
					Swiss software company Netcetera announced Dominik Wurzer as the new Managing Director for its Digital Banking Division.
Dominik Wurzer combines exceptional software product management and sales experience with many years of leadership experience in the Swiss market. Together with the division, he will further strengthen Netcetera’s holistic offering for the digital bank in the Swiss market and thus drive the digitalization of the financial industry with an end-to-end digital banking offering from mobile and web banking to advisory services.
Dominik Wurzer
Netcetera is appointing Dominik Wurzer as the new Managing Director of its Digital Banking Division as of February 2024. The appointment is in line with the long-term growth strategy and ongoing investments in its Digital Banking offering. Dominik Wurzer brings a wealth of experience from his previous positions as CEO at Contovista, specializing in data-driven digital banking solutions.






With his comprehensive experience in various innovative Swiss and international companies, Dominik is well equipped to further strengthen and position the holistic Digital Banking offering in the market together with the Digital Banking team.
Carsten Wengel
Netcetera CEO Carsten Wengel on the new appointment:
“I am delighted that we have been able to recruit Dominik Wurzer for our team. His passion for product management and leadership skills fit perfectly with our vision of strengthening the Digital Banking Division as a forerunner in the industry. With his expertise and commitment, Dominik will continue to drive our endeavor to offer pioneering Digital Banking solutions for our customers. Welcome to Netcetera!”
Dominik Wurzer takes over from Kurt Schmid, who wants to reorient himself after more than 16 years at Netcetera and its predecessor company in Austria.

Featured image credit: Dominik Wurzer, Managing Director, Digital Banking Division of Netcetera


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		]]></description><link>https://fintechnews.eu/netcetera-appoints-new-md-for-digital-banking-division</link><guid>3511</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Netcetera Appoints New MD for Digital Banking Division</dc:text></item><item><title>New SNB Study Reveals Critical Role of Card Schemes and Banks in the Contactless Payment Usage</title><description><![CDATA[
									
					
							
					Financial intermediaries, including card schemes and issuing banks, are playing a critical role in the use and promotion of new payment methods in Switzerland. A 2023 research by the Swiss National Bank (SNB) revealed that the rules and standards set by these intermediaries are impacting usage and frequency of contactless payments.
The findings, shared in a new report titled “Consumer adoption and use of financial technology: “tap and go” payments”, are based on an analysis of anonymized, transaction-level data for more than 400,000 payment cards and almost 18,000 merchants in Switzerland between 2019 and 2021. The study looked at data retrieved during four different periods, comparing contactless payment usage in 2019 (Base period), during the weeks immediately before the onset of COVID-19 in Switzerland (Pre-wave 1), during the first wave of COVID-19 and after contactless limits were increased (Post-wave 1), and during the second wave of COVID-19 (Post-wave 2).
Calendar periods applied for sample construction, Source: Consumer adoption and use of financial technology: “tap and go” payments, Swiss National Bank, August 2023
An analysis of the data uncovered a significant increase in the adoption and use of contactless payments following the onset of the COVID-19 pandemic with the share of contactless transactions increasing by 17% points from 44% during the Base period in 2019 to 61% during the Post-wave 1 period in 2020. At the beginning of the pandemic, the increase in contactless payments was four times higher than the trend growth prior to the pandemic outbreak.






The share of cards that were used at least once in contactless payments (adoption rate) also increased between the two periods, rising by 18% points from 68% during the Base period to 86% during the Post-wave 1 period.
Share of contactless transactions and adoption of contactless transactions, Source: Consumer adoption and use of financial technology: “tap and go” payments, Swiss National Bank, August 2023
In Switzerland, the “tap-and-go” limit was doubled from CHF 40 to CHF 80 in April 2020 as a response to the COVID-19 outbreak. This increase was coordinated by the main intermediaries in the Swiss payment industry, including card schemes, card-issuing banks and acquirers, in dialog with the authorities.
Results of the analysis uncovered a substantial causal effect on the use of paytech after an increase in the contactless cardholder verification limit, revealing considerable growth in the use of contactless payments for cards that benefited most from the higher “tap-and-go” limit.
Moreover, transactions that were newly eligible for “tap-and-pay” (CHF 40-80) recorded a stronger growth in contactless payments than transactions that were either previously eligible (below CHF 40) or remained ineligible (above CHF 80).
Between the Base and the Post-wave 1 periods, the share of contactless transactions increased by 24% points for transactions in the range between CHF 40 and CHF 80, compared to 16% for below CHF 40 transactions and 18% points for above CHF 80 transactions.
Effect of tap-and-go limit on contactless payments: within-card analysis, Source: Consumer adoption and use of financial technology: “tap and go” payments, Swiss National Bank, August 2023
These findings provide key insights on how policy-makers and payment system intermediaries should proceed to boost usage of instant payment systems and central bank digital currencies (CBDCs), the report says, revealing that it is critical to provide convenient identity verification for retail payments when promoting new payment instruments. In particular, the results suggest that the value limit for instant verification of payments will affect the intensity of use by consumers who adopt the technology.
The rise of contactless payments
Results of the study are consistent with those of other research which found considerable growth in cashless payments in Switzerland. A 2022 study conducted by SNB revealed a shift from cash to cashless payment methods in the country, with mobile payment apps in particular picking up steam.
The research, which studied more than 22,000 transactions and polled some 2,000 Swiss residents between August and November 2022, revealed that cash was used by the population in 36% of transactions, a figure that’s lower than the 43% and 70% rates observed in 2020 and 2017, respectively. These numbers show that usage of cash in Switzerland has been declining over the past years but that cash remains nevertheless one of the most used payment methods for day-to-day purchases.
Volume share by payment method in Switzerland, Source: Payment Methods Survey of Private Individuals 2022, Swiss National Bank, August 2022
At the other end of the spectrum, cashless payment instruments continued to witness increased adoption with mobile payments apps recording the strongest increase. In 2022, 68% of respondents indicated owning a mobile payment app, representing a more than sixfold increase from 2017. Usage of mobile payment app also grew, rising from a volume share of 5% in 2020 to 11% in 2022.
Ownership of cashless payment instruments, Source: Payment Methods Survey of Private Individuals 2022, Swiss National Bank, August 2022
To address growing consumer preference and usage of mobile payments, Swiss merchants are rapidly integrating these new methods into their payment offerings. A 2023 study conducted by the Zurich University of Applied Sciences and the Management Center Innsbruck revealed that Swiss online merchants are embracing mobile wallets at a fast pace, with local player Twint but also Apple Pay and Google Pay witnessing strong traction.
In 2023, Twint was the second most integrated payment method among Swiss online merchants behind credit cards (90%), with four out of five (79%) Swiss online shops polled indicating supporting the mobile payment app.
Twint is a mobile payment method in Switzerland that allows users to connect their bank account or card through an app to make payments online and at brick-and-mortar stores. The service claims more than 5 million users and says it carried out a total of 386 million transactions in 2022. Established in 2016, Twint is owned by some of Switzerland’s biggest banks, including UBS, PostFinance, Raiffeisen, Banque Cantonale Vaudoise, Zürcher Kantonalbank as well as Swiss stock market operator SIX and French payment company Worldline.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/new-snb-study-reveals-critical-role-of-card-schemes-and-banks-in-the-contactless-payment-usage</link><guid>3512</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Calendar-periods-applied-for-sample-construction-Source-Consumer-adoption-and-use-of-financial-technology-tap-and-go-payments-Swiss-National-Bank-August-2023.png</dc:content ><dc:text>New SNB Study Reveals Critical Role of Card Schemes and Banks in the Contactless Payment Usage</dc:text></item><item><title>Comarch Bolsters Executive Board with Dr. Pruska’s Appointment as President</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 11, 2024
																				





					
					
							
					Software firm Comarch announces that it has appointed Dr. Anna Pruska as its President of the Management Board. Joining her in the executive team are Marcin Warwas and Marcin Kaleta, who have been appointed as Vice Presidents of the Management Board.
Dr. Pruska, an accomplished economist, brings a wealth of experience to her new role. She graduated from the SGH Warsaw School of Economics in 2003, majoring in Finance and Banking, and has furthered her education in macroeconomics and development economics at the Jan Gutenberg University in Mainz and in Geneva, respectively.
Dr. Pruska earned her PhD in International Relations from the Jagiellonian University in 2019.






Her career at Comarch began in 2004, where she successfully led the company’s expansion in Western Europe, especially in Germany, France, and Belgium.
Since 2013, Dr. Pruska has been the Chairman of the Supervisory Board of Comarch Swiss AG and a member of the Supervisory Board of Comarch S.A.
Dr. Anna Pruska
Dr. Pruska said,
“I believe that this will be a strong year for Comarch. We aim to sustain our dynamic growth and boost sales on foreign markets without letting go of the challenges of the Polish market.

We want to rise to the challenge and strengthen the brand of a significant Polish IT company on the global stage. We are focused on making Comarch’s products even more innovative, which will be possible by investing in cutting-edge IT technologies and cultivating a progressively robust team of specialists in these domains.”
Marcin Warwas, a telecommunications graduate from AGH University of Science and Technology in Kraków, has been with Comarch since 1996.
He has played various key roles in the company, including Sales Director and Vice President of the Management Board.
Marcin Warwas
Warwas said,
“For nearly three decades, Comarch has maintained a steadfast commitment to investing in its products and services, subsequently distributing and implementing them on a global scale.

This growth strategy hinges on the accumulation and consistent application of knowledge, aligning with customer needs. Such an approach enables effective adaptation to the latest market trends, including digitalisation, personalisation, AI, cloud computing and cost optimisation.”
Marcin Kaleta
Marcin Kaleta, a Computer Science graduate from the Cracow University of Technology, joined Comarch in 2010.
His career has seen him take on significant roles, including Director of Innovation of the Comarch Group and Director of the Telecommunications Sector.
The company also announced the appointment of Professor Maria Jolanta Flis to the Supervisory Board of Comarch.





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	]]></description><link>https://fintechnews.eu/comarch-bolsters-executive-board-with-dr-pruskas-appointment-as-president</link><guid>3510</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Anna-Pruska-PhD-Appointed-President-of-the-Management-Board-of-Comarch-S.A-1440x564_c.jpg</dc:content ><dc:text>Comarch Bolsters Executive Board with Dr. Pruska’s Appointment as President</dc:text></item><item><title>DACH Insurtech Map and Funding Highlights in 2023</title><description><![CDATA[
									
					
							
					House of Insurtech presented at the end of 2023 a comprehensive report showcasing the Insurtech Map’s growth and impact.
The platform has emerged as a hub for innovation, featuring over ±200 startups from Germany, Austria, Switzerland, and Liechtenstein. This interactive platform not only highlights entries but also showcases innovative solutions that are shaping the future of the insurance industry.
HITS, House of Insurtech Switzerland, acknowledges the paramount relevance of the strategic curation of the Insurtech Map, ensuring that all relevant information from the insurtech industry is easily accessible, fostering a collaborative environment and empowering decision-makers with a wealth of knowledge at the palm of the user’s hands.






Ruth Armalé
“We recognize the importance of contributing to the development of a thriving open ecosystem, therefore we are curating and further investing in the Insurtech Map. Insurtech developments are closely monitored by HITS by scouting and vetting startups in the DACH region and we keep at the forefront of early market developments by actively engaging with partners and investors.”
explains Ruth Armalé, Chief Innovation Officer at HITS.
Insurtech DACH Trends 2023
These trends collectively illustrate the dynamic nature of the insurtech sector in the DACH region, showcasing a combination of technological innovation, strategic investments, and resilience in the face of economic challenges.
Generative AI and the Rise of LLMs (Large Language Models):

Generative AI is anticipated to become a key component of the insurtech stack.
Approximately one-fourth of the insurtechs in the region are already utilizing analytics and AI technologies.
Recent technological advancements in AI, especially Large Language Models (LLMs), are poised to play a crucial role in transforming the insurance industry.
The ultimate goal is to utilize Generative AI to enhance and provide the best possible customer experience in the insurance sector.

Equity Deals in the DACH Region:

On the capital side, top equity insurtech deals from the DACH region in Q3 2023 have been landed by Hepster (EUR 10M Series B) and SureIn (EUR 4M Seed) both from Germany, according to cbinsights, in a challenging macro economical environment. After record years 21-22, capital invested in Europe overall still growing at +18% vs. 2020 (source: Atomico). .

Top DACH Insurtech Funding Rounds in 2023
Congratulations to all the startups securing funding this year. The Insurtech Map has witnessed remarkable achievements in funding rounds, despite the hard conditions for fundraising. We extend our heartfelt congratulations to the following startups for successfully securing funding:
Wefox Group: €50,000,000
Thinksurance: €22,000,000
TONI Digital: €12,000,000
Hepster: €10,000,000
Feather Insurance: € 8,500,000
SureIn: €4,000,000
DGTL: € 3,200,000
Decentriq: €2,000,000
Swiss Insurtech Success Stories on the Map
Zoundream’s Breakthrough: Technology Embedded in MaxiCosi Baby Monitor:
One of the standout success stories from the past year involves Zoundream, whose cutting-edge technology understanding babies cry, has been seamlessly embedded in Dorel’s most popular baby monitor, MaxiCosi.
Imburse getting acquired by Duck Creek Technologies: The payment platform provider Imburse was acquired by Duck Creek Technologies, a solutions provider for property and casualty (P&amp;C) insurance. Imburse ranked among the TOP 100 Swiss Startups in 2021 and 2022 and is part of the Insurtech Map.

Calingo Insurance launched digital pet insurance for dogs and cats in Switzerland together with Simpego. The innovative product contains many customer-friendly features, such as a monthly cancellation right. The offer is already meeting with great success on the market.

Simpego launched the license plate calculator, Switzerland’s fastest car insurance premium calculator. Additionally, Simpego began using AI for semantic document recognition and automated quote creation.

TONI Digital launched the new car insurance “Belsura” exclusively on FinanceScout24. TONI Digital also launched new bicycle insurance for the Swiss market in cooperation with ÖKK.

Smile expanded into the Austrian market in 2022 as Switzerland’s largest digital insurer. In addition, Smile was able to generate over 140,000 app downloads with the freemium offer and has over 30,000 active users every month. As another highlight, Smile took bold steps in Web 3.0. The digital insurance company launched the first NFT for a good cause and had its first experiences in the metaverse.
Meet The New Startups on the DACH Insurtech Map
Touch Risk: Developing new and enhancing existing risk transfer solutions through AI and advanced technology.

AKUR8: AKUR8 is a SaaS Insurtech specializing in Insurance pricing optimization with Transparent AI.

Pelt8: Making efficient sustainability reporting accessible.

Cyberion: Cyberion provides cyber security protection to businesses in Switzerland. Get your cyber risk assessment and your quote online in less than 5 minutes.

Apinity: Offer a Software-as-a-Service solution that empowers businesses to start and manage their API ecosystem – without any development efforts.

Over 2023, the Insurtech Map has evolved into a dynamic platform, catalyzing innovation and fostering collaboration across borders. We are proud to be at the forefront of showcasing startups that redefine the insurance landscape. As we reflect on the past year, we anticipate even greater achievements and breakthroughs in the years to come.



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	]]></description><link>https://fintechnews.eu/dach-insurtech-map-and-funding-highlights-in-2023</link><guid>3508</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>DACH Insurtech Map and Funding Highlights in 2023</dc:text></item><item><title>IMF Study: Fintech Poses a Threat to Traditional Financial Institutions</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 5, 2024
																				





					
					
							
					The rise of fintech is posing a threat to traditional financial institutions, with these emerging companies encroaching on incumbents’ market share. This is evidenced by the adverse impact of fintech on the profitability of established financial institutions, a new research by the International Monetary Fund (IMF) found.
The findings, shared in a paper titled “Is Fintech Eating the Bank’s Lunch?”, were drawn from an analysis of a cross-country database encompassing 10,167 financial institutions and data on digital finance activities across 57 countries. The study sought to gain insights into the relationship between fintech and financial institutions’ profitability and examine the impact of the rise of fintech on banking sector.
Findings of the study reveal that established financial institutions are witnessing a negative impact on their profitability when the presence of fintech companies is high, an impact that’s primarily driven by reduced interest income due to heightened competition in the lending market as well as increased costs.






Specially, the study found that a 1% point increase in fintech transaction volumes correlates with a reduction of 0.09% points in return on equity (ROE) and a 0.02% points decline in return on assets (ROA) for incumbent financial institutions. An analysis of the transmission channels also uncovered a negative impact on net interest margin (NIM), with a 1% point increase in fintech transaction volumes prompting a 0.03% point decrease in incumbent’s NIM.
Effect of fintech on bank performance measures, Source: Is Fintech Eating the Bank’s Lunch?, International Monetary Fund, Nov 2023
Furthermore, fintech appears to have an adverse effect on incumbent’s cost to income (CTI), with a 1% point increase in fintech transaction volumes leading to a 0.14% point increase in incumbent CTI. According to the IMF, this could be attributed to the higher level of IT investments required because of fintech pressure. These costs are exacerbated by outdated legacy technology, further impacting profitability.
In parallel, the analysis found that fintech has a positive effect on non-interest income (NONIC), with a 1% point increase in fintech transaction volumes being associated with a 0.01% point increase in incumbent NONIC. This result suggests that, although incumbents are responding to the intense competition by exploring new revenue streams, these efforts to diversify have not fully offset the profitability losses from fintech competition.
Impact of different fintech business models
Delving deeper into the fintech sector, the study found that different fintech models have varying effects on financial institutions with cooperative banks tending to experience greater profit deterioration from P2P lending and balance sheet lending than larger, more complex commercial banks.
Results show that for a 1% point increase in P2P lending transactions, cooperative banks are witnessing a 0.3% point decrease in ROE. Likewise, a similar increase in balance sheet lending results in a 0.2% point ROE decrease. These results are significant given that the median ROE for cooperative banks is 3.8%, the report notes.
Low profit levels for cooperative banks are attributed to reduced NIM and higher CTI. Some of these institutions are facing challenges in affording IT investments and meeting digital banking expectations, potentially limiting lending opportunities, the report notes. Fintech platforms, on the other hand, can achieve economies of scale and broader geographical reach by leveraging technology. Moreover, these platforms may target the same untapped customer segments that cooperative banks aim to serve.
In contrast to cooperative banks, commercial banks seem to be less affected by fintech, potentially due to their larger size and wider geographical reach. In fact, the study found a positive effect of the presence of P2P lending on the NONIC of commercial banks, indicating potential benefits from collaboration with P2P lending platforms to expand revenue streams. However, balance sheet lending was found to be a threat to commercial bank, impacting their NIM negatively.
Effect of fintech models on bank performance measures, Source: Is Fintech Eating the Bank’s Lunch?, International Monetary Fund, Nov 2023
Disparities between markets
Looking at geographical trends and disparities, the study found that incumbents located in markets with lower bank concentration, higher stock market turnover, higher credit depth, and higher commercial bank profitability are more prone to losing ground to fintech companies.
Lower bank concentration suggests fewer entry barriers for new fintech firms, and higher stock market turnover and credit depth imply more competitive and developed financial systems, indicating more sophisticated investors, and access to skilled talent. These conditions are advantageous for fintech success but pose a threat to incumbent profits, the report says.
At the institutional level, incumbents with a lower risk profile, including lower non-performing loans (NPLs), a lower probability of insolvency, and higher capital, are more susceptible to see their profitability decline because of fintech. This is because financial institutions with these characteristics are more risk-averse and less inclined to lend, introducing opportunities for fintech firms to fill the gaps by serving as substitutes for traditional bank lending.
Finally, the study found that in countries with high regulatory quality and government effectiveness, incumbent profitability tends to be positively impacted by fintech competition. This suggests that well-designed regulations can establish a level playing field, enabling new fintech companies to thrive while protecting incumbents from unfair competition practices.
Study Recommendations
The report concludes by emphasizing the importance of ongoing monitoring of fintech development and its impact across the financial system, noting that while fintech platforms are delivering benefits such as enhanced efficiency in financial service delivery, increased competition, and improved access to finance, the sector also presents challenges to incumbent institutions by limiting their profit margins and eroding their market shares.
Consequently, banks may encounter difficulties in building capital buffers necessary for absorbing losses and maintaining solvency. There is also the potential for incumbents to engage in riskier lending and investment activities to preserve market share and boost profits.
These risks and challenges require regulators to establish a proper framework that balances financial innovation and systemic risk mitigation. The report proposes a number of recommendations to broaden the regulatory scope and establish a level playing field, advocating for the review and redesign of licensing regimes to encompass new service providers within the regulatory framework where appropriate, the implementation of more robust capital, liquidity, and operational risk management requirements tailored to the risks posed by different fintech business models, and the enhancement of the regulatory framework for smaller, less technologically advanced incumbents that are more vulnerable to fintech competition.
The IMF also encourages incumbents to respond to the rise of fintech and their growing threat by adjusting their business models, focusing on enhancing cost efficiency, diversifying income sources, consolidating operations, improving internal governance, and addressing problematic loans.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/imf-study-fintech-poses-a-threat-to-traditional-financial-institutions</link><guid>3506</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Fintech-Poses-a-Threat-to-Traditional-Financial-Institutions-New-Study-Finds-1440x564_c.jpg</dc:content ><dc:text>IMF Study: Fintech Poses a Threat to Traditional Financial Institutions</dc:text></item><item><title>Fintech, Tech and Crypto Media Sector Shows Resilience with Notable Strategic Acquisitions and Funding Rounds Secured in 2023</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 5, 2024
																				





					
					
							
					Over the past year, global economic and geopolitical uncertainty posed challenges for media and telecoms mergers and acquisitions (M&amp;A) activity, but despite this, the sector continued to see strategic acquisitions and funding rounds driven by factors such as digitalization, innovation, consolidation and the pursuit of new market opportunities, reports by consultancies Deloitte and KPMG highlight.
Deal activity in the technology, media and telecom continued their downtrend in Q2 2023, with deal value falling 32% from Q1 2023 to Q2 2023 on a 15% decline in deal volume. Tech transactions suffered a considerable pullback, with deal volume decreasing to 854 from 1,011 in Q1 2023 and deal value dropping to US$23.9 billion from US$47.4 billion. Telecom deal volume plunged from 74 to Q1 2023 to 44 in Q2 2023, though combined deal value remained steady at US$5.9 billion from US$5.8 billion.
Media stood out in Q2 2023, emerging as the subsector of the bunch that defied the odds. Even though deal volume declined slightly to 354 in Q2 2023 from 382 in Q1 2023, deal value more than tripled to US$8.4 billion in Q2 2023 from US$2.6 billion in Q1 2023.






Strategic transactions accounted for the bulk of media deals in Q2 2023, with 281, down 5.7% from the previous quarter, compared to 73 private equity deals, down 13.1%. The picture was even more lopsided value-wise with strategic deals reaching a value of US$7.9 billion, up 491.3%, while private equity transactions collectively amounted to just US$400 million, down 64.5%.
Media deal activity by subsector, Source: Nearing the bottom?: M&amp;A trends in technology, media and telecom, KPMG, Q2 2023
2023 has so far recorded a number of notable M&amp;A deals in the media sector, focusing primarily on streaming, digital media, gaming, emerging economies, adtech, and social media, among other key themes. These deals were aimed at gaining access to a broader audience, connecting with new demographics and markets, and diversifying revenue streams.
Tech News and Crypto Media M&amp;A acquisitions Accelerates in Asia
Notable media acquisition deals this year include SPH Media acquiring Tech in Asia to strengthen its tech and events business, Bullish acquiring CoinDesk to invest in global expansion, and TechCrunch acquiring StrictlyVC to refocus on its roots in venture investments.
Leading Singaporean media organization SPH Media announced in November its purchase of local digital news publication Tech in Asia. The deal aims to support SPH Media’s ambition to turn its publication, The Business Times, into a regional player and accelerate its goal of becoming a trusted source of business and tech news for investors, dealmakers, entrepreneurs and readers who have an interest in Southeast Asia.
The acquisition means both more startup coverage and perhaps more importantly picking up Tech in Asia’s events business, which specializes in tech shows in Singapore and Jakarta that attract thousands of attendees and top sponsors.
Tech in Asia is a Singaporean online news publication founded in 2010 that covers startup and venture capital (VC) news across Southeast Asia, India and North America. The company also operates a regional events network, an advertising agency unit called Studios, and a regional startup and tech jobs marketplace.
Financial details of the deal were not disclosed, but sources told DealStreetAsia that the agreed transaction pegged Tech in Asia’s valuation at US$30 million.
In the US, cryptocurrency exchange Bullish acquired this year crypto-focused media company CoinDesk in an all-cash deal with undisclosed financial terms, the Wall Street Journal reported in November. Bullish, which is run by New York Stock Exchange president Tom Farley, aims to invest in CoinDesk’s global expansion and the growth of the company’s media, events, and indexing businesses.
CoinDesk was previously owned by the Digital Currency Group (DCG), which acquired the media company back in 2016 for US$500,000. However, in the aftermath of the collapse of FTX, DCG found itself entangled in its own financial troubles. The firm’s lending subsidiary Genesis Global Capital filed for bankruptcy after rounds of layoffs, and its institutional trading platform TradeBlock and wealth management unit headquartered in were forced to closed shop.
CoinDesk, which generated US$50 million in revenue in 2022, has faced challenges this year, laying off 16% of its internal staff in August. The company had been exploring options, including a partial or full sale, and was earlier this year in the final stages of sealing an approximate US$125 million deal involving a syndicate of investors, the Wall Street Journal reported in July.
Founded in 2013, CoinDesk is a leading media, events, data, and indices company focusing on the crypto and blockchain industry. CoinDesk’s key businesses include CoinDesk Media, which delivers news stories on the crypto and blockchain industry; CoinDesk Events, which gathers the global crypto, blockchain and Web 3.0 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival; and CoinDesk Indices, which offers expertise in digital asset indices, data and research to educate and empower investors.
Another noteworthy media M&amp;A deal this year is the acquisition of media startup StrictlyVC by Yahoo. The deal, unveiled in August, will see StrictlyVC being incorporated into Yahoo-owned TechCrunch, operating as a sub-brand within the TechCrunch portfolio.
The acquisition showcases Yahoo’s commitment to TechCrunch under its new ownership, and signals a shift by TechCrunch back to its roots covering venture investments and startups in Silicon Valley. It’s part of a broader effort by Yahoo to invest in a few key pillars, often through acquisitions, including news, sports, finance, mail and search.
Launched in 2013, StrictlyVC is a popular daily newsletter focusing on the VC scene in Silicon Valley and beyond, and which claims 60,000 free email subscribers. The company also runs events and a podcast, and earns revenue from sponsorships.
Besides these three noteworthy acquisition deals, the media sector also recorded a number of smaller transactions that are nevertheless worth mentioning.
In Austria, magazine publisher VGN Medien Holding joined in May Die Brutkasten Gruppe as a strategic investor, becoming the new majority shareholder of the Austrian tech news company. As part of the transaction, VGN Medien Holding said it will support the further growth of Die Brutkasten Gruppe and accompany the company in its expansion into new markets and segments.
Die Brutkasten Gruppe describes itself as a “multimedia platform for startups, the digital economy and innovation” and has witnessed considerable growth over the past years. According to Austrian national public broadcaster ORF, Die Brutkasten Gruppe grew its sales from EUR 600,000 to EUR 3.2 million between 2018 and 2022, and consists of a team of 35 people spread across Vienna, Munich and Berlin.
In Asia, Singapore-based Foresight Ventures completed in November the acquisition of the majority of the shares of crypto news and data provider The Block. The purchase was completed at a US$70 million valuation, and the company plans to “build out new exciting products” and expand into Asia and the Middle East, CEO Larry Cermak said in an X post on Monday.
Founded in 2018, The Block is a media outlet that delivers news, research, and data. The company makes most of its revenue from ads and subscription. It generates around US$20 million in revenue last year, told Axios last year.
In July 2022 the market already monitored the acquisition of Grvty Media (owner of  Asian tech news page Vulcanpost) through Singpapor based Towerhill by Kiat Lim.
But of course the whole media market was overshadowed in July 2022, by the sensational acquisition of Industry Dive by Informa, who bought the niche publication service for an estimated whopping 525m USD.

Media funding rounds and deals
In the fast-paced media and tech landscape, 2023 has also witnessed several strategic moves, with significant funding rounds shaping the industry.
In the Middle East, Saudi Arabia’s Events Investment Fund (EIF), a part of the National Development Fund, acquired in July a stake in Tahaluf. Tahaluf is a local large-scale live events company created through a strategic joint venture between the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) and Informa, the international event organizer and digital services group behind the Finovate event series.
The investment in Tahaluf aligns with EIF’s strategy to develop a sustainable infrastructure for the culture, tourism, entertainment and sports sectors across Saudi Arabia, by building multiple world-class venues by 2030.
Tahaluf is the organizer of tech events LEAP and Black Hat Middle East, as well as the artificial intelligence (AI) event DeepFest in Saudi Arabia. In the span of just two years, Tahaluf, together with the Saudi Arabian Ministry of Communications and IT, managed to turn LEAP into one of the world’s most-attended tech events with attendance reaching 172,000 this year.
Tahaluf plans to launch further diverse original concept events, including the Saudi Maritime Congress, Global Health Exhibition and Inflavour, for the food industry. Tahaluf will also bring iconic Informa brands to Saudi Arabia including CityScape, CPHI and Cosmoprof, serving the global real estate, pharmaceutical and beauty industries respectively.
In Singapore, Bitsmedia, the creator of popular Muslim lifestyle application, Muslim Pro, secured in December a US$20 million Series A funding round from Asia-focused venture capital (VC) firm Gobi Partners, CMIA Capital Partners and Bintang Capital Partners.
Bitsmedia said it would use the proceeds to advance AI capabilities; enrich content offerings on Bitsmedia’s streaming platform, Qalbox; continuously develop educational features; and improve the Quran experience within Muslim Pro.
Muslim Pro is a highly-rated and comprehensive Muslim lifestyle app with more than 150 million downloads globally to date, and Qalbox is a global subscription video on demand entertainment streaming service aimed at the global Muslin community.
Finally in the US, crypto media outlet Blockworks raised in May a US$12 million funding round led by private equity firm 10T Holdings at a US$135 million post-money valuation. The company said it would use the proceeds to expand its research and data analytics offering, Blockworks Research.
Already in June 2021 Lloyds Capital invested GBP13 million into Hybrid Media, a UK and Malaysia based media agency which owns also the the tech news page Techwireasia,
Read also: Fintech and Finance Firms Snap Up Media Companies to Gain Audience
Fintech and Finance Firms Snap Up Media Companies to Gain Audience

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/fintech-tech-and-crypto-media-sector-shows-resilience-with-notable-strategic-acquisitions-and-funding-rounds-secured-in-2023</link><guid>3507</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Fintech-Tech-and-Crypto-Media-Sector-Shows-Resilience-with-Notable-Strategic-Acquisitions-and-Funding-Rounds-Secured-in-2023-1440x564_c.jpg</dc:content ><dc:text>Fintech, Tech and Crypto Media Sector Shows Resilience with Notable Strategic Acquisitions and Funding Rounds Secured in 2023</dc:text></item><item><title>Fintech, Tech and Crypto Media Sector Shows Resilience with Notable Strategic Acquisitions and Funding Rounds in 2023</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 5, 2024
																				





					
					
							
					Over the past year, global economic and geopolitical uncertainty posed challenges for media and telecoms mergers and acquisitions (M&amp;A) activity, but despite this, the sector continued to see strategic acquisitions and funding rounds driven by factors such as digitalization, innovation, consolidation and the pursuit of new market opportunities, reports by consultancies Deloitte and KPMG highlight.
Deal activity in the technology, media and telecom continued their downtrend in Q2 2023, with deal value falling 32% from Q1 2023 to Q2 2023 on a 15% decline in deal volume. Tech transactions suffered a considerable pullback, with deal volume decreasing to 854 from 1,011 in Q1 2023 and deal value dropping to US$23.9 billion from US$47.4 billion. Telecom deal volume plunged from 74 to Q1 2023 to 44 in Q2 2023, though combined deal value remained steady at US$5.9 billion from US$5.8 billion.
Media stood out in Q2 2023, emerging as the subsector of the bunch that defied the odds. Even though deal volume declined slightly to 354 in Q2 2023 from 382 in Q1 2023, deal value more than tripled to US$8.4 billion in Q2 2023 from US$2.6 billion in Q1 2023.






Strategic transactions accounted for the bulk of media deals in Q2 2023, with 281, down 5.7% from the previous quarter, compared to 73 private equity deals, down 13.1%. The picture was even more lopsided value-wise with strategic deals reaching a value of US$7.9 billion, up 491.3%, while private equity transactions collectively amounted to just US$400 million, down 64.5%.
Media deal activity by subsector, Source: Nearing the bottom?: M&amp;A trends in technology, media and telecom, KPMG, Q2 2023
2023 has so far recorded a number of notable M&amp;A deals in the media sector, focusing primarily on streaming, digital media, gaming, emerging economies, adtech, and social media, among other key themes. These deals were aimed at gaining access to a broader audience, connecting with new demographics and markets, and diversifying revenue streams.
Tech News and Crypto Media M&amp;A acquisitions Accelerates in Asia
Notable media acquisition deals this year include SPH Media acquiring Tech in Asia to strengthen its tech and events business, Bullish acquiring CoinDesk to invest in global expansion, and TechCrunch acquiring StrictlyVC to refocus on its roots in venture investments.
Leading Singaporean media organization SPH Media announced in November its purchase of local digital news publication Tech in Asia. The deal aims to support SPH Media’s ambition to turn its publication, The Business Times, into a regional player and accelerate its goal of becoming a trusted source of business and tech news for investors, dealmakers, entrepreneurs and readers who have an interest in Southeast Asia.
The acquisition means both more startup coverage and perhaps more importantly picking up Tech in Asia’s events business, which specializes in tech shows in Singapore and Jakarta that attract thousands of attendees and top sponsors.
Tech in Asia is a Singaporean online news publication founded in 2010 that covers startup and venture capital (VC) news across Southeast Asia, India and North America. The company also operates a regional events network, an advertising agency unit called Studios, and a regional startup and tech jobs marketplace.
Financial details of the deal were not disclosed, but sources told DealStreetAsia that the agreed transaction pegged Tech in Asia’s valuation at US$30 million.
In the US, cryptocurrency exchange Bullish acquired this year crypto-focused media company CoinDesk in an all-cash deal with undisclosed financial terms, the Wall Street Journal reported in November. Bullish, which is run by New York Stock Exchange president Tom Farley, aims to invest in CoinDesk’s global expansion and the growth of the company’s media, events, and indexing businesses.
CoinDesk was previously owned by the Digital Currency Group (DCG), which acquired the media company back in 2016 for US$500,000. However, in the aftermath of the collapse of FTX, DCG found itself entangled in its own financial troubles. The firm’s lending subsidiary Genesis Global Capital filed for bankruptcy after rounds of layoffs, and its institutional trading platform TradeBlock and wealth management unit headquartered in were forced to closed shop.
CoinDesk, which generated US$50 million in revenue in 2022, has faced challenges this year, laying off 16% of its internal staff in August. The company had been exploring options, including a partial or full sale, and was earlier this year in the final stages of sealing an approximate US$125 million deal involving a syndicate of investors, the Wall Street Journal reported in July.
Founded in 2013, CoinDesk is a leading media, events, data, and indices company focusing on the crypto and blockchain industry. CoinDesk’s key businesses include CoinDesk Media, which delivers news stories on the crypto and blockchain industry; CoinDesk Events, which gathers the global crypto, blockchain and Web 3.0 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival; and CoinDesk Indices, which offers expertise in digital asset indices, data and research to educate and empower investors.
Another noteworthy media M&amp;A deal this year is the acquisition of media startup StrictlyVC by Yahoo. The deal, unveiled in August, will see StrictlyVC being incorporated into Yahoo-owned TechCrunch, operating as a sub-brand within the TechCrunch portfolio.
The acquisition showcases Yahoo’s commitment to TechCrunch under its new ownership, and signals a shift by TechCrunch back to its roots covering venture investments and startups in Silicon Valley. It’s part of a broader effort by Yahoo to invest in a few key pillars, often through acquisitions, including news, sports, finance, mail and search.
Launched in 2013, StrictlyVC is a popular daily newsletter focusing on the VC scene in Silicon Valley and beyond, and which claims 60,000 free email subscribers. The company also runs events and a podcast, and earns revenue from sponsorships.
Besides these three noteworthy acquisition deals, the media sector also recorded a number of smaller transactions that are nevertheless worth mentioning.
In Austria, magazine publisher VGN Medien Holding joined in May Die Brutkasten Gruppe as a strategic investor, becoming the new majority shareholder of the Austrian tech news company. As part of the transaction, VGN Medien Holding said it will support the further growth of Die Brutkasten Gruppe and accompany the company in its expansion into new markets and segments.
Die Brutkasten Gruppe describes itself as a “multimedia platform for startups, the digital economy and innovation” and has witnessed considerable growth over the past years. According to Austrian national public broadcaster ORF, Die Brutkasten Gruppe grew its sales from EUR 600,000 to EUR 3.2 million between 2018 and 2022, and consists of a team of 35 people spread across Vienna, Munich and Berlin.
In Asia, Singapore-based Foresight Ventures completed in November the acquisition of the majority of the shares of crypto news and data provider The Block. The purchase was completed at a US$70 million valuation, and the company plans to “build out new exciting products” and expand into Asia and the Middle East, CEO Larry Cermak said in an X post on Monday.
Founded in 2018, The Block is a media outlet that delivers news, research, and data. The company makes most of its revenue from ads and subscription. It generates around US$20 million in revenue last year, told Axios last year.
In July 2022 the market already monitored the acquisition of Grvty Media (owner of  Asian tech news page Vulcanpost) through Singpapore-based Towerhill by Kiat Lim.
But of course the whole media market was overshadowed in July 2022, by the sensational acquisition of Industry Dive by Informa, who bought the niche publication service for an estimated whopping 525m USD.

Media funding rounds and deals
In the fast-paced media and tech landscape, 2023 has also witnessed several strategic moves, with significant funding rounds shaping the industry.
In the Middle East, Saudi Arabia’s Events Investment Fund (EIF), a part of the National Development Fund, acquired in July a stake in Tahaluf. Tahaluf is a local large-scale live events company created through a strategic joint venture between the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) and Informa, the international event organizer and digital services group behind the Finovate event series.
The investment in Tahaluf aligns with EIF’s strategy to develop a sustainable infrastructure for the culture, tourism, entertainment and sports sectors across Saudi Arabia, by building multiple world-class venues by 2030.
Tahaluf is the organizer of tech events LEAP and Black Hat Middle East, as well as the artificial intelligence (AI) event DeepFest in Saudi Arabia. In the span of just two years, Tahaluf, together with the Saudi Arabian Ministry of Communications and IT, managed to turn LEAP into one of the world’s most-attended tech events with attendance reaching 172,000 this year.
Tahaluf plans to launch further diverse original concept events, including the Saudi Maritime Congress, Global Health Exhibition and Inflavour, for the food industry. Tahaluf will also bring iconic Informa brands to Saudi Arabia including CityScape, CPHI and Cosmoprof, serving the global real estate, pharmaceutical and beauty industries respectively.
In Singapore, Bitsmedia, the creator of popular Muslim lifestyle application, Muslim Pro, secured in December a US$20 million Series A funding round from Asia-focused venture capital (VC) firm Gobi Partners, CMIA Capital Partners and Bintang Capital Partners.
Bitsmedia said it would use the proceeds to advance AI capabilities; enrich content offerings on Bitsmedia’s streaming platform, Qalbox; continuously develop educational features; and improve the Quran experience within Muslim Pro.
Muslim Pro is a highly-rated and comprehensive Muslim lifestyle app with more than 150 million downloads globally to date, and Qalbox is a global subscription video on demand entertainment streaming service aimed at the global Muslin community.
Finally in the US, crypto media outlet Blockworks raised in May a US$12 million funding round led by private equity firm 10T Holdings at a US$135 million post-money valuation. The company said it would use the proceeds to expand its research and data analytics offering, Blockworks Research.
Already in June 2021 Lloyds Capital invested GBP13 million into Hybrid Media, a UK and Malaysia based media agency which owns also the the tech news page Techwireasia,
Read also: Fintech and Finance Firms Snap Up Media Companies to Gain Audience
Fintech and Finance Firms Snap Up Media Companies to Gain Audience

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/fintech-tech-and-crypto-media-sector-shows-resilience-with-notable-strategic-acquisitions-and-funding-rounds-in-2023</link><guid>3509</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Fintech-Tech-and-Crypto-Media-Sector-Shows-Resilience-with-Notable-Strategic-Acquisitions-and-Funding-Rounds-Secured-in-2023-1440x564_c.jpg</dc:content ><dc:text>Fintech, Tech and Crypto Media Sector Shows Resilience with Notable Strategic Acquisitions and Funding Rounds in 2023</dc:text></item><item><title>The Swiss Early Stage Tech Venture Funding Map</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 5, 2024
																				





					
					
							
					Over the last decade, venture capital has emerged as the most profitable asset class, with tech companies in particular enjoying high popularity. However, building a tech startup is challenging due to the high risks, time and cost intensity.
Significant investment is required to generate initial revenue, and up to CHF 5 million may be required to achieve profitability. Early stage funding often takes up to 100% of a founder’s time, and in the current economic climate, raising capital is increasingly difficult.
Against this background, Axelra has developed the «Swiss Early Stage Tech Venture Funding Map». This map is a direct contribution to the Swiss startup ecosystem and is designed to enable founders and investors to make the best use of their valuable time.






The Global Innovation Index 2023 ranks Switzerland as the most innovative country and it is also considered an attractive location for tech ventures, far beyond the FinTech sector. Approximately 50,000 new companies are founded each year, of which statistically only 10-20% survive after 5 years. Good entrepreneurs are more in demand than ever, because they and their teams make the difference.
Early Stage Funding: A Critical Challenge
Early stage financing is a critical aspect of a start-up’s success. Not only do founders need to build their business, acquire customers and talent, but they also need to raise capital. Quick and easy access to liquidity and support in Switzerland is a critical factor.
While an impressive CHF 3.9 billion of venture capital was invested in the Swiss startup ecosystem in 2022, the path to getting the money into the account is often complex and intransparent.
Swiss Early Stage Tech Venture Funding Map: A Time-Saving Guide for Tech Startups
To address the challenge of early stage funding, Axelra developed the «Swiss Early Stage Tech Venture Funding Map». This map is a comprehensive guide for startups and makes the landscape of early stage funding in Switzerland understandable.
Peach Zwyssig

«The creation of the map is a direct result of Axelra’s own experience in building tech ventures»,

says Peach Zwyssig, CEO of Axelra.

«We cover the three areas of product, management and growth, and funding is essential. After more than 20 tech ventures, we have amassed a wealth of experience and data points and find that an aggregated collection of information can be of great benefit to all parties involved.»

The Swiss Early Stage Tech Venture Funding Map will continue to evolve as the ecosystem changes. It will be regularly updated to ensure that it has a firm place in the Swiss startup ecosystem and always provides relevant and up-to-date information. Axelra is also happy to receive changes/corrections and integrate them into the next update.
The latest version of the map is always available on their Website. However, it is most useful as a printed poster (60.9 cm x 109 cm), which provides a comprehensive overview of all phases and financing options. The current version can be purchased on www.axelra.com/fundingmap for CHF 29.-.
Phase-Specific Funding Options
The «Swiss Early Stage Tech Venture Funding Map» takes into account that funding options differ depending on the phase of the tech venture. It provides a clear overview of the different phases of an early-stage startup: Ideate, Validate, Launch, Scale and Grow. For each of these phases, specific funding amounts and options are presented that are tailored to the stage and maturity of an early-stage startup.
It is grouped by:

Incubator &amp; Accelerator Programs and Venture Builders
Grants (without program)
Investor syndicates &amp; groups (including angels)
Venture Capital Firms
Family Offices



Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/the-swiss-early-stage-tech-venture-funding-map</link><guid>3505</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Axelra-Presents-the-Swiss-Early-Stage-Tech-Venture-Funding-Map-1440x564_c.jpg</dc:content ><dc:text>The Swiss Early Stage Tech Venture Funding Map</dc:text></item><item><title>The Future of Fintech and Funding in 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 4, 2024
																				





					
					
							
					The recent slowdown in venture capital (VC) investment, coupled with increased regulatory scrutiny, has created a more complex landscape for fintech founders and investors. But despite these challenges, opportunities still exist in the sector as demand for regtech, embedded finance and artificial intelligence (AI) rises, and as adoption of blockchain networks continues to progress, a new report by Silicon Valley Bank (SVB) says.
The report, titled “The Future of Fintech ”, provides an outlook on innovation in the fintech industry based on the bank’s proprietary data and sector knowledge, highlighting how fintech companies are finding opportunities regardless of obstacles challenging their growth.
According to the report, regulators in the US are increasing their oversight of fintech platforms that have emerged in the past decade, a regulatory catch-up that encompasses risks and concerns ranging from data privacy and fair lending to digital assets.






At the same time, the financial sector is experiencing a growing trend of fraud, impacting companies’ bottom lines. A 2023 survey commissioned by regtech firm Alloy revealed that as many as 60% of fintech companies paid at least US$250,000 in compliance fines and penalties in 2022.
The study also found that larger organizations were experiencing the highest losses due to compliance, with 37% of 1,000+ employee organizations indicating paying between US$500,001 and US$1 million in fines and penalties in 2022.
Money lost due to compliance fines/penalties, Source: State of Compliance Benchmark Report 2023, Alloy, 2023
Money lost due to compliance fines/penalties per organization size, Source: State of Compliance Benchmark Report 2023, Alloy, 2023
Against this backdrop, fintech startups are embracing automation, including through the use of AI, to better detect fraud. According to the same Alloy survey, 56% of the fintech companies polled were already using AI for compliance and another 29% are considering it.
The traditional financial sector is also jumping on the bandwagon. A 2020/2021 industry study conducted by the European Banking Authority revealed that a considerable number of financial institutions already had advanced experience of regtech solutions and services at the time. The study, which polled a total of 115 financial institutions and 147 regtech providers across the European Union (EU), found that more than half of regtech projects were already in the production stage.
In the fields of anti-money laundering and countering the financing of terrorism (AML/CFT), the study found that the share of fraud prevention and information and communication technology (ICT) in production was even higher, standing above 60% of regtech solutions.
Further showcasing the surge in regtech adoption, the study revealed that although for half of the surveyed financial institutions, investment and spending on regtech solutions stood below 20% of the overall IT budget in 2020, a handful of institutions showed significant reliance on regtech, with up to 40%‐60% of the total IT budget going into the operations of regtech solutions.
2020 IT spend on regtech solutions, Source: EBA Analysis of regtech in the EU financial sector, EBA, June 2021
Beside sustained demand for regtech solutions, the SVB report notes that in the payment vertical, established firms managed to secure substantial rounds of funding this year despite the challenging fundraising environment, a trend which reflects investors’ strong confidence in the payment and embedded finance sector, particularly due to the continued growth of digital payments.
American digital payment firm Stripe secured a significant US$6.9 billion funding round in March, marking one of the largest VC tech rounds ever. The payments app was valued at US$50 billion, a far cry from US$95 billion in 2021, but still good enough to maintain its position as the second most valuable US unicorn after SpaceX.
This comes amid surging usage of digital payments surged during COVID-19 and after. A 2022 survey conducted by American global payment firm NMI polled a thousand consumers in the US and found that 69% of respondents had made a contactless payment that year. In 2020, only 22% had used contactless payments.
Tap-to-pay technology is also on the rise, and embedded finance transactions, including embedded banking, lending and insurance, are expected to top US$7 trillion by 2026.
Projected transactions by embedded product type, Source: Future of Fintech 2023, Silicon Valley Bank, 2023
Like other fintech companies, Stripe faced macro headwinds this past year, laying off 14% of workers in November 2022. But towards the end of 2023, business rebounded with revenue growth improving 35% in Q3 2023 from 25% for all of 2022, the Information reported. Stripe posted an operating profit of US$150 million in the third quarter alone, bringing company’s total profit for the first three quarters of 2023 to US$200 million.
Finally, the last fintech vertical outlined in the SVB report is the blockchain segment. The report notes that while 2022 and 2023 were challenging years for the industry, marked by slumping prices and high-profile collapses, positive indicators are suggesting ongoing development activity.
The number of daily active wallets and weekly developers continue to stand above 2021 levels, reaching 1.14 million and 7,700 in 2023, respectively, the report notes. The figures are below the record-breaking levels recorded in 2022 but surpass the 2021 numbers of 1.09 million and 7,000, respectively.
According to SVB, these metrics suggest the possibility of entering a new, long-term growth cycle in the sector, presenting opportunities for new innovations in blockchain as adoption increases over time.
Global blockchain development activity, Source: Future of Fintech 2023, Silicon Valley Bank, 2023
Following global trends, fintech VC fundraising activity in the US declined substantially this year, with a stated interest in fintech plunging nearly 70% and aggregate fundraising dollars falling at a similar rate.
Regardless, VC firms are still actively raising capital, with Ribbit Capital securing US$800 million for Fund X in its first round, and corporates such as PayPal and Nationwide being in the process of raising fintech funds, the report notes.
US VC investment into fintech, Source: Future of Fintech 2023, Silicon Valley Bank, 2023


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	]]></description><link>https://fintechnews.eu/the-future-of-fintech-and-funding-in-2024</link><guid>3504</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/US-VC-investment-into-fintech-Source-Future-of-Fintech-2023-Silicon-Valley-Bank-2023-1440x564_c.png</dc:content ><dc:text>The Future of Fintech and Funding in 2024</dc:text></item><item><title>New IFZ Paper Explores the Opportunities and Challenges of Quantum Computing and AI in Finance</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 4, 2024
																				





					
					
							
					Quantum machine learning (QML), a subfield of quantum computing that combines the principles of quantum mechanics with machine learning (ML) algorithms, hold transformative potential in banking and finance, offering opportunities to enhance decision-making processes, better mitigate risks, and uncover new business opportunities.
But despite these many promises and opportunities, there are still several challenges and risks that need to be addressed, including the complexity of quantum algorithms, the high costs associated with the development and implementation of quantum computing and QML, and regulatory and ethical challenges in integrating these technologies in the financial industry, a new report by the Institute of Financial Services Zug IFZ at the Lucerne School of Business says.
Quantum computing is a type of computing technology that harnesses the principles of quantum physics to perform computations. In contrast to classical computing where information is processed using bits represented as 0s and 1s, quantum computing uses quantum bits or qubits that can exist in a state of superposition, simultaneously representing both 0 and 1.






In addition to superposition, another unique principle of quantum computing is entanglement where the state of one qubit is directly influenced by the state of the other, even if they are physically separated.
These properties allow quantum computers to solve certain types of problems much more efficiently than classical computers.
On the other hand, AI technology relies on algorithms and data to create systems that emulate human intelligence and which are capable of performing tasks such as visual perception, speech recognition, decision-making, and language translation. ML is a subset of AI focusing on gives computer systems the ability to learn from data without explicit being programmed.
Quantum computing and AI converging
The Institute of Financial Services Zug IFZ report, titled Quantum Computing and Artificial Intelligence in Finance and released in December 2023, explores the relationship between quantum computing and ML in the financial sector, highlighting both opportunities and challenges in this technological convergence.
According to the report, when quantum computing and AI/ML are combined, these technologies can unlock unparalleled potential for financial services, a sector that’s characterized by substantial data volumes, intricate problems, and critical decision-making. This integration promises to revolutionize how the financial services sector handles complex challenges and data-intensive processes, enhancing speed, precision, and intelligence, it says.
In the financial sector, QML, which refers to the use of algorithms run on quantum devices to process and analyze large volumes of data, is able to perform certain calculations exponentially faster than classical computers, potentially offering many benefits in use cases ranging from fraud prevention and creditworthiness calculations, to more efficient pricing strategies and optimized portfolio management strategies.
In fraud prevention, quantum algorithms can enhance fraud detection systems by efficiently and promptly analyzing large volumes of financial transaction data and identifying patterns indicative of fraudulent activities. In credit scoring, QML can aid in assessing credit-worthiness by analyzing diverse data sources to provide more accurate risk assessments for individuals and businesses.
Quantum algorithms can also be utilized to expedite the calculation of financial product prices, enabling more efficient pricing strategies and uncovering arbitrage opportunities. Finally, in portfolio management, trading and hedging, QML can be employed to develop advanced strategies and optimize portfolio management by processing market and financial data and identifying patterns that can inform decision-making processes as well as determining optimal investment opportunities.
Challenges to widespread adoption
But despite these opportunities, the report notes that quantum computing is still in its early stages of development and that several challenges are hampering the finance industry from fully harnessing the potential of quantum computing and QML.
These challenges primarily relate to scalability and reliability. High-performance quantum computers require hundreds of thousands of qubits for practical use, and while the industry is actively developing new and scalable hardware, it will still take a few years before a service is available in the required quantities, the report says.
Additionally, the use of quantum computing is still complicated and not user-friendly today, implying that further innovations in the area of quantum-related software are required.
Finally, the issue of reliability is a sticking point in the operation of a quantum computer that’s associated with the issue of decoherence. Decoherence effects arise when a quantum system interacts with its environment and the superposition is lost. It can introduces errors and limits the depth and complexity of quantum computations that can be reliably performed.
Interest in quantum computing has risen sharply over the past year. In 2022, investors poured US$2.35 billion into quantum tech startups, surpassing 2021’s record for the highest annual level of quantum tech startup investment, findings from a McKinsey analysis show.
Volume of raised investment in the indicated year, US$ million, Source: McKinsey and Company, April 2023
Deloitte expects the financial services industry’s spending on quantum computing capabilities to grow 233x from just US$80 million in 2022 to US$19 billion in 2032, reflective of the sector’s confidence in the technology’s future commercial potential.
Spending on quantum computing capabilities from the financial services industry (US$ million), 2022-2032, Source: Deloitte Center for Financial Services analysis, July 2023
According to McKinsey, the financial services industry stands as one of the four sectors likely to see the earliest economic impact from quantum computing, potentially gaining up to US$700 billion in value by 2035 thanks to the technology.
Estimated value at stake for quantum computing in four key industries, Source: 2023 Quantum Technology Monitor, McKinsey and Company, April 2023
Switzerland welcomed in 2022 its first quantum hub. Called QuantumBasel, the center is located in the uptownBasel innovation campus and provides customers and researchers with workshops, training sessions, and access to quantum systems to further their understanding of quantum computing and drive progress towards commercial applications. Funded by the family of Dr. Thomas Staehelin and Monique Staehelin, QuantumBasel is set to house the country’s first commercially viable quantum computer starting in 2024.

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	]]></description><link>https://fintechnews.eu/new-ifz-paper-explores-the-opportunities-and-challenges-of-quantum-computing-and-ai-in-finance</link><guid>3502</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/New-Paper-Explores-the-Opportunities-and-Challenges-of-Quantum-Computing-and-AI-in-Finance-1440x564_c.jpg</dc:content ><dc:text>New IFZ Paper Explores the Opportunities and Challenges of Quantum Computing and AI in Finance</dc:text></item><item><title>6 Payments Trends to Watch in 2024 According to Visa</title><description><![CDATA[
									
					
							
					The payments industry is nothing, if not constantly changing. And 2024 promises to bring its fair share of change.
Visa identified 6 payment trends to watch in 2024, such as the return of leisure travel and the rise of AI.
1. Creators, SMBs go global.
From the creator and sharing economies to ecommerce and traditional brick-and-mortar businesses, 2024 is the year SMBs go global. For businesses of all sizes, the mindset has largely shifted beyond the local neighborhood to the global digital economy.






Nearly 4 in 5 SMBs (79%) cited selling across borders as a focus for their growth, and consumers are ready for it. Some 72% of consumers said they are comfortable buying from businesses in other countries.
Digital payments are transforming opportunities for SMBs to pay and be paid, making it possible to reach new audiences, easily accept secure payments, track and monitor spending, increase security and safety, improve efficiencies and grow like never before. And with payments innovations allowing for access to earnings in real-time, making it convenient to receive consumer and B2B payments, getting paid has never been easier. Payment solutions like virtual cards are also enabling SMBs with the cashflow, purchasing power and expense management capabilities needed to thrive in today’s digital-first world.
In 2024, we expect small and micro businesses will benefit from increased digitization that both speeds and protects payments, making expansion beyond geographical borders easier than ever before.
image credit: Visa
2. Interoperability gains steam.
The convenience and speed of digital payments have transformed the way we move money, both domestically and across borders. But the explosion of networks and payment methods — from money-moving apps and wallets, to blockchains, together with legacy infrastructure — has made for a splintered, fragmented experience. Each solution often operates within its own, siloed ecosystem.
But that is beginning to change. With payments players prioritizing interoperability, we will soon see a more seamless future-state of global money movement — one where paying across services is as seamless as using any one service, breaking down barriers and bringing a myriad of benefits to end users, FIs and their corporate clients, fintech enablers and app providers alike.
In 2024, we will continue to see collaboration across the payments ecosystem — amongst banks, FIs, merchants, technology providers/enablers and issuers — bringing us greater global financial inclusion, accessibility, cross-system compatibility and interoperability. We expect to see more technologies developed to help both consumers and businesses navigate the intricacies and complexities of cross-border money movement.
3. Open infrastructure solves hard payments problems, making commerce easier.
Today, as consumers, if a tech solution doesn’t suit us, we walk away from it — because we know a better, easier, more suitable option likely exists. And payments are not immune to these kinds of expectations.
In 2024, we expect a notable shift to more modular, platform-agnostic infrastructure in payments technology, making it possible for businesses to more easily provide the kind of experiences consumers have grown to expect.
What does that mean in practice? It means businesses being able to use the products and services they need as they need them. Don’t have a good token solution? Add one to your existing tech stack. Need a better omni-channel experience? Implement one without unseating your entire payments gateway. Network-agnostic payments services create plug-and-play solutions for truly complex problems.
Not only will we see more payments companies transform their infrastructure with these kinds of open tools, but more and more businesses will benefit from these new layers and capabilities. As a result, the world of commerce will become easier to operate.
4. Consumers expect tailored solutions. For merchants, banks and FIs, services make them possible.
Consumer expectations are shaping more than payments infrastructure. Consumers increasingly expect an experience that is tailored to them. Whether you are a merchant or a bank, to give consumers the experience they expect — quickly — it can take scarce tech and engineering resources, or bring greater complexity than they may be prepared to take on. As a result, more businesses are looking toward partner-based solutions or managed services to close the gap.
Value-added services built through partnerships can help companies give consumers what they want, without having to disrupt their businesses or develop new capabilities in-house — efforts that can be costly, time-consuming and still don’t guarantee success.
With a growing reliance on digital payments, there’s increased urgency around these decisions — and the decisions merchants, banks and FIs make today will likely be felt throughout their business years into the future. These improvements can serve as a vehicle to unlock the full potential and efficiency of a business, helping build trust with customers and move faster during a time of rapid change.
5. AI brings new opportunities — and challenges — to payments.
A little more than a year after LLMs burst onto the scene, one of the most exciting future applications of generative AI is in fighting fraud — specifically, in the opportunity to analyze and learn from an unprecedented amount of data compared to traditional predictive models. The next generation of AI has the potential to take insights from multiple domains and generate new insights, helping to train fraud tools to make more informed and accurate decisions to differentiate fraudulent transactions from legitimate purchases.
Generative AI will also transform the ways we work, improving product, data structure, models, operations and infrastructure. At Visa, we are already seeing a net coding productivity improvement of 30%, as time consuming/repetitive tasks (e.g. boiler plate code generation) are handled very well by Gen AI tools, freeing engineers to focus on producing high-value code that results in market differentiating products.
AI also brings new challenges to payments. Generative AI tools will help fraudsters create more realistic phishing scams, making it harder for consumers to spot the once characteristic spelling and grammar errors. All of this raises the bar for business and consumers, who will need to adapt to an evolving threat landscape.
6. Travel returns with a vengeance.
With the worst of the pandemic in the rearview, travel is back, and momentum is expected to continue in the coming months. What’s driving the spike? A yearning for relaxation and stress-free holidays, after years of COVID-driven, we’ll say, inconvenience.
According to Visa’s Global Travel Intentions Study 2023, over 70 percent of travelers are aware of the rising cost of vacation, but most are undeterred, with only 4% planning to cut back on travel plans. Globally, travelers are looking forward to an average of 2 leisure trips over the next 12 months, with affluent travelers banking on even more.
But not everything about travel is an escape from the pandemic-era. A preference for flexibility in travel arrangements remains, and a priority placed on safety and cleanliness have become clear drivers when it comes to choosing accommodations.
Apart from smaller ticket items, travelers are mainly opting for safe, digital, and touch-free payments experiences. And while many tourists are aware of sustainable travel and tourism, research conducted by Visa and Oxford Economics found that 41% feel they lack information about sustainable travel options, and 36% feel that available information is not credible. Solutions like Visa’s partnership with Ecolytiq, where consumers can see estimated carbon emissions based on their transactions — and Travalyst, a global sustainable travel initiative that presents consumers with more consistent and visible sustainability information, starting with accommodations and aviation — can help close the gap.
Change can be good
At the end of the day, change can be good, particularly when it means better outcomes for consumers, businesses, communities and economies. And if change means a world where small businesses can increasingly serve a global marketplace, where open-infrastructure and managed services mean banks, FIs, businesses and consumers get the solutions the need — and where moving value across networks is as easy, seamless and secure as moving it across a single network — then 2024 can’t come soon enough.

Featured image credit: edited from Freepik


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	]]></description><link>https://fintechnews.eu/6-payments-trends-to-watch-in-2024-according-to-visa</link><guid>3503</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>6 Payments Trends to Watch in 2024 According to Visa</dc:text></item><item><title>Assets Invested in Listed Crypto ETFs and ETPs Globally Have Increased 119.6% in 2023</title><description><![CDATA[
									
					
							
					ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported that assets invested in Crypto ETFs and ETPs listed globally have increased 119.6% in the first 11 months of 2023.
Crypto ETFs and ETPs listed globally gathered net inflows of US$1.31 billion during November, bringing year-to-date net inflows to US$1.60 billion, which is higher than US$744.08 million in net inflows at this point last year.
Highlights







Assets invested in Crypto ETFs and ETPs listed globally have increased 119.6% in the first 11 months of 2023 going from $5.79 Bn at end of 2022 to $12.73 Bn.
Net inflows of $1.31 Bn during November.
Year-to-date net inflows of $1.60 Bn during 2023 are the second highest on record, after YTD net inflows of $9.02 Bn in 2021.
2nd month of net inflows.


Global Crypto ETFs and ETPs asset growth as of end of November

Since the launch of the first Crypto ETF ETP in 2015, the Bitcoin Tracker One-SEK, the number and diversity of products have increased steadily, with 176 Crypto ETFs/ETPs and 482 listings globally at the end of November 2023. During November, 6 Digital Asset ETFs/ETPs were launched.
Substantial inflows can be attributed to the top 20 ETFs/ETPs by net new assets, which collectively gathered $1.30 Bn during November. ProShares Bitcoin Strategy ETF (BITO US) gathered $278.72 Mn, the largest individual net inflow.
Top 20 Crypto ETFs/ETPs by net new assets 


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		]]></description><link>https://fintechnews.eu/assets-invested-in-listed-crypto-etfs-and-etps-globally-have-increased-1196-in-2023</link><guid>3500</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Assets Invested in Listed Crypto ETFs and ETPs Globally Have Increased 119.6% in 2023</dc:text></item><item><title>Payrexx Secures First Series A Investment</title><description><![CDATA[
									
					
							
					Payrexx AG is starting its Series A financing round: INS Holding AG is supporting the Swiss online payment platform for SMEs with an amount of around CHF 2.5 million. The resources will be used to improve the existing offering and to launch new projects.
It is an important step for Payrexx AG: until now, the Swiss online payment provider has successfully financed itself through organic growth and with the help of smaller investments from existing private investors. In this way, the startup from Thun was able to build up a comprehensive service.
If a company uses Payrexx, it can offer its customers over 200 payment methods for payment with just a few clicks. Payrexx was also named the most popular payment service provider (PSP) among Swiss SMEs in the 2023 online retailer survey conducted by the Institute of Marketing Management.






The company is now entering the next financing round, known as Series A, in which external investors are involved: INS Holding AG from Zug is investing around 2.5 million Swiss francs in the platform as an investor. As part of this transaction, carried out by a consortium of Icelandic investors, the company valuation of Payrexx is in the double-digit million range.
This investment was made in close cooperation with Corestar Partners GmbH, which acted as exclusive strategic and financial advisor to Payrexx in this financing round. The investment banking boutique has focused exclusively on the fintech sector in Europe since 2013 and is regarded as the market-leading investment advisor within the payment service provider sector.
Improving the existing and tackling the new
Ivan Schmid
CHF 2.5 million is a rather small investment compared to the international payment industry, says Ivan Schmid, founder and CEO of Payrexx. And yet the financial injection represents an important step, especially for the more than 50,000 customers:

“The resources will be used to a large extent to expand our existing service, strengthen customer service and create jobs in the region. This investment will also enable us to launch pioneering growth initiatives and position them on the market for the first time since our foundation.”

The existing offering is not only to be improved, Payrexx also intends to tackle new projects in the future. The company is currently pursuing five major growth targets, such as the introduction of bank-to-bank instant payment methods, the further development of distance selling into an on-site POS terminal solution and the expansion of the already launched QR code payment – all functions designed to simplify online and on-site payments for end customers.
This constant development is particularly important for an SME like Payrexx, emphasizes CEO Ivan Schmid:

“The digital payment market is characterized by intense competition and an international presence. To survive in this dynamic environment and secure the best conditions for small and medium-sized enterprises (SMEs), it is crucial to be innovative and agile.”

This is the only way to implement the company’s own vision: Payrexx wants to simplify digital payment transactions and thus enable all people and companies to participate in the success of global online commerce.

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	]]></description><link>https://fintechnews.eu/payrexx-secures-first-series-a-investment</link><guid>3501</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Payrexx Secures First Series A Investment</dc:text></item><item><title>New Chief Revenue Officer for Boerse Stuttgart Digital</title><description><![CDATA[
									
					
							
					Joaquín Sastre Ibáñez (32) will be joining the management team of Boerse Stuttgart Digital as Chief Revenue Officer as of 1 January 2024.
In his role, Sastre Ibáñez is set to oversee the institutional business, strategic partnerships and sales activities of Boerse Stuttgart Digital, strengthening its position as a regulated and trusted infrastructure partner for financial institutions in Europe venturing into cryptocurrencies and digital assets. Boerse Stuttgart Digital bundles business solutions for brokerage, exchange, and custody and is part of Boerse Stuttgart Group, Europe’s sixth largest exchange group.
Joaquín Sastre Ibáñez
Joaquín Sastre Ibáñez is moving from global digital asset service provider BitGo, where he was responsible for operating and expanding the business across Europe, the Middle East, Africa, and Latin America as Managing Director.






Sastre Ibáñez was assisting large European financial institutions in their digital assets journey, and his contributions were key in several of BitGo’s funding milestones. Prior to this, Sastre Ibáñez started his career in the digital asset space in 2017 at XAPO, establishing a regulated institutional crypto custodian and an OTC trading services provider.
Matthias Voelkel
“One important layer of our strategy at Boerse Stuttgart Digital is growing our institutional business in Europe. We are very delighted that Joaquín Sastre Ibáñez, with his extensive experience and international network, is joining us in our effort to become the infrastructure partner of choice for banks, asset managers and other financial institutions across Europe for crypto and digital assets. Joaquín will have a pivotal role in enhancing Boerse Stuttgart Digital’s institutional business and further expanding our client base,”
comments Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group.

Featured image credit: Joaquín Sastre Ibáñez,Chief Revenue Officer of Boerse Stuttgart Digital 


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	]]></description><link>https://fintechnews.eu/new-chief-revenue-officer-for-boerse-stuttgart-digital</link><guid>3499</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>New Chief Revenue Officer for Boerse Stuttgart Digital</dc:text></item><item><title>EMEA VC Scene: Who Are the One’s With the Best Track Record in Identifying Future Unicorns</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 3, 2024
																				





					
					
							
					The venture capital (VC) landscape in Europe, Middle East and Africa (EMEA) has experienced a significant transformation over the past decade, with the number of active investors contributing to the sector each year surpassing 10,000, new data released by Dealroom show. The figure represents a 4.5x increase from ten years ago and showcases the dynamism of the market as EMEA nations continue to push for innovation.
The data, released in the 6th annual ranking of VC investors in EMEA, also reveal the dominance of seed stage funding and the region’s focus on nurturing the inception of new ventures. Out of the 10,000+ investor pool that supports the EMEA startup ecosystem every year, 4,100 are predominantly active from the seed stage onward. The total number of investors active at seed stage stands higher than this figure at 5,400 investors, because many Series A and later-stage investors also participate in seed rounds.
Unique number of investors in EMEA startups (at least one investment in the year), Source: Investor Ranking EMEA 2023, Dealroom, Nov 2023
Underscoring the vibrancy of the EMEA entrepreneurial ecosystem, the data show that approximately 3,500 new startups in the region start their venture-backed journey each year by raising their first VC round.






Number of first-time VC rounds in EMEA, Source: Investor Ranking EMEA 2023, Dealroom, Nov 2023
But despite a dynamic VC market, achieving unicorn startup remains a big challenge for ventures in EMEA. In recent years, about 50 new unicorns are minted each year in EMEA out of the 3,500 annually first-time funded startups. This translates to roughly a 1-1.5% conversion rate. Additionally, just about 25% of EMEA startups making it to Series A or beyond, the data show.
Proportion of EMEA startups reaching unicorn status, Source: Investor Ranking EMEA 2023, Dealroom, Nov 2023
Data also indicate that choosing the right investor is critical for a startup to succeed, revealing a strong correlation between the top performing investors, and the likelihood of their portfolio companies converting from seed to Series A. More specifically, startups backed by top quartile VCs were found to be three times more likely to successfully graduate to Series A compared to those backed by VCs in the bottom quartile.
Conversion from Seed to Series A after 36 months, Source: Investor Ranking EMEA 2023, Dealroom, Nov 2023
Top 20 EMEA investors
Dealroom’s 2023 VC Investor Ranking, released on November 24, presents the startup investors that are the most successful at picking winners and supporting them to become future unicorns. This is done by giving each investor a score based on their investments in unicorns, their investments in future unicorns, and their pace of investment. These scores are then ranked to determine the most successful startups investor.
The 2023 EMEA ranking, which focuses on VC investors targeting the region, reveals that LocalGlobal is the top VC investor in EMEA startups. LocalGlobe is UK-based VC that focuses on seed and impact investments, targeting mainly startups in the enterprise software, fintech, marketing and media sectors. Notable investments include Robinhood, Wise and Monzo.
LocalGlobe is seed-stage dominant, meaning that it’s backed most of its unicorn startups since the seed stage and implying that it’s very successful in identifying future winners from their very beginning.
After LocalGloba, the next top two VC investors are Index Ventures and Accel. Index Ventures is a VC firm with dual headquarters in San Francisco and London, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure and artificial intelligence (AI), and security. It’s a renowned VC firm that has backed the likes of Skype, Facebook, Adyen, Plaid and Revolut.
Accel is an American VC firm that works with startups at the seed, early and growth stage. It concentrates on tech sectors including consumer, infrastructure, software-as-a-service (SaaS) and enterprise software, and has backed the likes of Slack, Flipkart, Spotify and Animoca Brands.
Both Index Ventures and Accel are Series A-dominant, the ranking shows.
Finally, for Series B startups and up, Insight Partners is the most successful investor in EMEA. Headquartered in New York City, Insight Partners is a global VC and private equity firm that invests in high-growth tech, software, and Internet businesses. The firm has backed Checkout.com, Alibaba and Shopify, among others.
Insight Partners is ranked at the 10th position in the overall 2023 EMEA ranking.
Other VC firms that made it into the top 20 VC ranking the year include Point Nine (#4, Germany), HV Capital (#5, Germany), Sequoia Capital (#6, USA), Bessemer (#7, USA), Global Founders Capital (#8, Germany), Seedcamp (#9, UK), Kima Ventures (#11, France), Balderton Capital (#12, UK), Creandum (#13, Sweden), Cherry Ventures (#14, Germany), Speedinvest (#15, Austria), Mangrove Capital Partners (#19, Luxembourg) and Entree Capital (#20, Israel). These firms are all seed-stage dominant.
Meanwhile, SoftBank (#16, Japan), Tiger Global Management (#17, USA) and Eurazeo (#18, France) have been the most successful in identifying future unicorns at the Series B and upper stages.
2023 combined EMEA ranking, Source: Investor Ranking EMEA 2023, Dealroom, Nov 2023

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	]]></description><link>https://fintechnews.eu/emea-vc-scene-who-are-the-ones-with-the-best-track-record-in-identifying-future-unicorns</link><guid>3498</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/EMEA-VC-Scene-Surges-4.5x-1440x564_c.jpg</dc:content ><dc:text>EMEA VC Scene: Who Are the One’s With the Best Track Record in Identifying Future Unicorns</dc:text></item><item><title>Zühlke Divides Operations, Establishes Group Executive Board</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						January 3, 2024
																				





					
					
							
					Zühlke Group, a global technology innovation service provider, has unveiled a new global structure and leadership changes, effective from 1 January 2024. Zühlke aims to better cater to the needs of its clients across various regions while also enhancing its operational efficiency.
The reorganisation involves dividing the group’s operations into two parts namely Asia Pacific (APAC) and Europe as well as the Middle East and Africa (EMEA). This division is designed to streamline operations and improve client services, while also aligning supply and demand effectively within these areas.
Accompanying this structural change, the Zühlke Group has established a new Group Executive Board. This board is tasked with steering the company’s strategy and operations under the revised organizational framework.






The board includes Group CEO Fabrizio Ferrandina, Group COO Ernst Ellmer, Group CFO Tom Grützmann, Group Chief People Officer Anabel Fall, Group Chief Technology &amp; Delivery Officer Aleksandar Marjanovic, CEO for the EMEA region Nicolas Durville, and Group Chief Financial Services Industry Officer Thomas Memmel.
The company is also in the process of recruiting for the CEO position for the APAC region and the Group Chief Healthcare Industry Officer, who, once appointed, will join the board.

Featured image: Members of the newly established Group Executive Board


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		]]></description><link>https://fintechnews.eu/zuhlke-divides-operations-establishes-group-executive-board</link><guid>3497</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2024/01/Zuhlke-Divides-Operations-Establishes-Group-Executive-Board-as-Part-of-Strategic-Shift-1440x564_c.jpg</dc:content ><dc:text>Zühlke Divides Operations, Establishes Group Executive Board</dc:text></item><item><title>Year End Message to Our Readers – Offline From 22nd December to 2nd January</title><description><![CDATA[
						

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									by Fintechnews Switzerland								
																						December 22, 2023
																				





					
					
							
					Fintech News Switzerland would like to take this opportunity to wish all our readers a Merry Christmas and a very Happy New Year.
We will be taking a break from the 22nd of December 2023 to the 2nd of January 2024.
Until then, you can access some of our year-end articles that may be of interest to you. We look forward to seeing you all again on the 3rd January 2024!







7 Young Fintech Startups from the DACH Region to Keep an Eye on

6 Green Fintech Startups from the DACH Region to Follow in 2024

Swiss Startup Investor Map 2023

The Cheapest and Best Swiss Neobanks for Summer Travel

Rise of Digital Nomads Introduces Identify Verification Challenges to Banks and Fintech Companies

8 Hot DeFi Startups in Europe to Watch in 2023






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								]]></description><link>https://fintechnews.eu/year-end-message-to-our-readers-offline-from-22nd-december-to-2nd-january</link><guid>3496</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/AFF-2024-Banner-E-scaled-1.jpeg</dc:content ><dc:text>Year End Message to Our Readers – Offline From 22nd December to 2nd January</dc:text></item><item><title>FinanceGPT Provider Unique Secures CHF 5.6 Million New Funding</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 21, 2023
																				





					
					
							
					Swiss AI Fintech Unique, who just announced a new deal with Pictet, announce also a new funding round, as they  raised an additional USD $6.4 million (CHF 5.6 million) to further develop a tailored Microsoft Azure-based Co-Pilot platform for the financial industry.
The aim is to supercharge client-facing teams and allow them to automate administrative tasks with the power of Generative AI. The total investment now stands at USD 24 million (CHF 21 million) and reflects investors’ confidence in generative AI and its potential impact on the financial industry.
Unique managed to secure new funding in the financing round led by Vi Partners that also included such investors as Daniel Gutenberg, Boris Collardi, and Young Sohn, who emphasizes his confidence in Unique:






“Unique has the potential to become a global vertical AI leader with its tailored solution for the financial industry. I’m committed to helping Unique’s founders with their expansion plans and ambitions as an advisor,”
said Young Sohn, Founding Managing Partner Walden Catalyst Ventures and former Corporate President of Samsung Electronics.
Manuel Grenacher
Manuel Grenacher, the CEO and Co-founder of Unique, said:
“We are excited to develop the Unique FinanceGPT solution together with leading financial institutions. I’m particularly proud to count top names such as LGT Private Banking, Pictet Group, Partners Group, PostFinance, Die Mobiliar and Key Group, to name a few, among over 40 clients. Their trust underscores our firm commitment to aligning with the evolving needs of financial institutions, where GenAI is becoming increasingly indispensable.”
Unique’s expertise and years of experience with GenAI position them to facilitate the seamless integration of innovative technology within the banking sector and make a tangible impact on the industry.


Featured image credit: Manuel Grenacher, the CEO and Co-founder of Unique


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	]]></description><link>https://fintechnews.eu/financegpt-provider-unique-secures-chf-56-million-new-funding</link><guid>3494</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Top-Swiss-Banks-Embrace-GenAI-Transformation-with-Unique-FinanceGPT-1440x564_c.jpg</dc:content ><dc:text>FinanceGPT Provider Unique Secures CHF 5.6 Million New Funding</dc:text></item><item><title>Swiss-Backed CBDC Project Explored Feasibility of Cash-Like, Anonymous Digital Currency</title><description><![CDATA[
									
					
							
					Project Tourbillon, an initiative led by the Bank for International Settlements (BIS) Innovation Hub Swiss Centre and supported by the Swiss National Bank (SNB), explored the feasibility of a retail central bank digital currency (CBDC), finding that it is possible to implement a CBDC design that provides anonymity to the payer and which is scalable and secure.
In a new report released in November 2023, BIS shares details of the project, outlining findings of their efforts.
Project Tourbillon, which had been running since at least late-2022, saw the development and testing of two CBDC prototypes based on the eCash design by American computer scientist, cryptographer and inventor David Chaum.






These prototypes were designed to address three features simultaneously: privacy, by enabling payer anonymity, security, by implementing quantum-safe cryptography (QSC), or algorithms that are resistant to attacks by both classical and quantum computers; and scalability, by testing these systems’ ability to handle a growing number of transactions using payment data.
They leveraged the existing two-tier banking system and involved four parties: a central bank, commercial banks, consumers and merchants.
First, consumers and merchants were handed deposit accounts with banks, while banks were given reserve accounts with the central bank. Consumers and merchants were then required to be initially onboarded by their respective banks to ensure that know-your-customer (KYC) procedures were met.
Once onboarded, consumers and merchants were able to install and use the Tourbillon apps on their mobile devices: the consumer Tourbillon app allowed consumers to withdraw, hold CBDCs via self-custody, and make payments, while the merchant Tourbillon app allowed businesses to request payments, receive payments and view the status of payments.
Tourbillon application, Source: Project Tourbillon: Exploring privacy, security and scalability for CBDCs, Bank for International Settlements Innovation Hub Swiss Centre, Swiss National Bank, Nov 2023
To use CBDCs, consumers were required to request a withdrawal through their bank, which debited their deposit account and forwarded the request to the central bank. The central bank then issued CBDCs, debiting the bank’s reserve account, and sending the CBDCs to the consumer.
Consumers could then hold the CBDCs and later use them to pay various merchants.
As of merchants, once they received CBDCs as payment, they submitted them to their bank, which forwarded them to the central bank. After verification, the central bank credited the merchant’s bank reserve account, and the merchant’s bank credited the merchant’s deposit account.
Tourbillon high-level architecture, Source: Project Tourbillon: Exploring privacy, security and scalability for CBDCs, Bank for International Settlements Innovation Hub Swiss Centre, Swiss National Bank, Nov 2023
Challenges and considerations
According to the report, Project Tourbillon concluded its experiment successfully, revealing that it is possible to develop a retail CBDC that’s anonymous, secure and scalable.
But despite its successful completion, Project Tourbillon also revealed three critical areas for further development.
Firstly, Project Tourbillon showed the challenges of implementing QSC and the ensuing reduction in transaction processing speed brought about these technologies. Hence, the report advises for further research and experimentation to enhance QSC functionality, efficiency, and to determine a safe transition from current cryptography to QSC.
Secondly, although Tourbillon confirms the feasibility of the eCash design, the report notes the potential for improvement in privacy, security, or scalability based on evolving requirements. Modeling the trade-offs between privacy, security and scalability and the extent to which they impact each other will be crucial for advancing the prototypes, it says.
Finally, future work should explore how an eCash-based design could be implemented. This includes considering additional use cases, such as offline payments, and exploring economic viability with a sustainable business model, the report concludes.
Project Tourbillon is the latest CBDC project led by BIS in which SNB is evolved. It follows initiatives such as Project Mariana, a collaboration that tested the cross-border trading and settlement of wholesale CBDCs developed jointly with Bank of France and the Monetary Authority of Singapore (MAS); Project Jura, a collaboration involving Bank of France, BIS, SNB and a private sector consortium that explored the direct transfer of euro et Swiss franc wholesale CBDCs between French and Swiss commercial banks on a single distributed ledger technology (DLT) platform operated by a third party; and Project Helvetia, a multi-phase investigation by BIS, SNB and Swiss financial infrastructure operator SIX on the settlement of tokenized assets in CBDC.
Building on findings of Project Helvetia, SNB launched this month a pilot project with a wholesale CBDC (wCBDC) on the SIX Digital Exchange (SDX). The pilot, which is scheduled to run from December 2023 to June 2024, allows for real bond transactions to be settled using a wCBDC. Several banks are taking part in the pilot, including Commerzbank, Hypothekarbank Lenzburg and UBS.
Despite a clear keenness in CBDC, the Swiss central bank has said that the initiative “does not constitute a commitment on the part of the SNB to introduce wholesale CBDC on a permanent basis.”
 
Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/swiss-backed-cbdc-project-explored-feasibility-of-cash-like-anonymous-digital-currency</link><guid>3495</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Swiss-Backed CBDC Project Explored Feasibility of Cash-Like, Anonymous Digital Currency</dc:text></item><item><title>ZKB schafft Jahres­gebühren für Debit­karten und Privat­konten ab</title><description><![CDATA[
									
					
							
					Die Zürcher Kantonalbank schafft per 1. Januar 2024 die Jahresgebühren für Privatkonten und Debitkarten für Privatkundinnen und Privatkunden ab.
Mit dem neuen Angebot ZKB Banking geht die Zürcher Kantonalbank voran und bietet als erste grosse Schweizer Bank sowohl digital wie auch in Filialen kostenloses Alltagsbanking für alle.
Pro Person umfasst das Angebot bis zu zwei Debitkarten, drei Privatkonten sowie Sparkonten, eBanking, Mobile Banking und TWINT.






Insgesamt beträgt die jährliche Ersparnis bis zu CHF 116.–. Dabei spielt es keine Rolle, welche Kanäle und Dienstleistungen bevorzugt werden: Ob digital per Smartphone oder physisch in einer Filiale – die erwähnten Jahresgebühren fallen für alle Privatkundinnen und Privatkunden weg. Für die bestehende Kundschaft geschieht dies automatisch per 1. Januar 2024.
Urs Baumann
«Der Verzicht auf die Jahresgebühren ist für die Zürcher Kantonalbank ein wichtiger Schritt, um die Zukunft des Schweizer Bankings voranzubringen. Wir wollen damit ein Signal setzen und im Sinne unseres Leistungsauftrages unseren Erfolg zurückgeben: Uns war wichtig, dass alle unsere heutigen und künftigen Privatkundinnen und Privatkunden ohne Wenn und Aber profitieren – unabhängig vom Vermögen oder von digitaler Affinität»,
sagt Urs Baumann, CEO der Zürcher Kantonalbank.
«ZKB Banking ist einerseits ein Dankeschön an unsere bestehenden Kundinnen und Kunden für das Vertrauen, das sie uns entgegenbringen. Anderseits möchten wir damit schweizweit ein attraktives, digitales Bankangebot lancieren.»
Debitkarten und Konten für CHF 0.–
Die Jahresgebühr für die ZKB Visa Debit Card von jährlich CHF 40.– und die Jahresgebühr für das Privatkonto von CHF 12.– entfallen per Januar 2024. So spart jemand, der bisher ein Privatkonto mit Debitkarte nutzte, künftig CHF 52.– pro Jahr. Bei bis zu drei Privatkonten in Schweizer Franken und zwei Debitkarten steigt die jährliche Ersparnis auf bis zu CHF 116.– pro Person. Auch Inhaber von ZKB inklusiv, der Paketlösung mit Kreditkarten, können ab Januar 2024 automatisch Geld sparen: Der Preis der Silber-Paketlösung sinkt auf CHF 72.– pro Jahr, das Gold-Paket gibt es neu für CHF 150.– und das Platin-Angebot gibt es neu für alle Kunden für CHF 384.– jährlich.
Das Angebot richtet sich deshalb nicht nur an digital affine Kunden, sondern es ist genauso attraktiv für alle, die einen Besuch in einer Filiale im Kanton Zürich bevorzugen.
Die Bank investiert zudem bis 2030 in die Modernisierung ihrer 51 Filialen im Kanton Zürich um ein attraktives hybrides Angebot zu bieten.



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	]]></description><link>https://fintechnews.eu/zkb-schafft-jahresgebuhren-fur-debitkarten-und-privatkonten-ab</link><guid>3493</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>ZKB schafft Jahres­gebühren für Debit­karten und Privat­konten ab</dc:text></item><item><title>Pictet Launches Internal Chat GPT Finance Platform</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 21, 2023
																				





					
					
							
					Pictet launching an internal GPT-powered platform to over 5,000 employees. The technology is co-developed with Unique.
This rollout enables Pictet employees to experience the power of One.Chat, which is what Pictet are calling the platform internally.
One.Chat is two-facetted: on the one hand, it allows easy access to all internal information through a chat interface, and on the other, it gives Pictet employees the chance to access all ChatGPT capabilities that stretch far beyond regulatory documents.






Unique’s approach allows the finance industry to use generative AI technology without stressing over data security and protection. By utilizing Microsoft Azure OpenAI Service, Unique adheres to the highest security standards, which also ensures no client data is hosted outside of Switzerland.
Now Pictet employees can create tailored client proposals, swiftly access regulatory compliance information, and compose personalized emails.
Although the launch was recent, the results are impressive. Over 3,000 employees have used One.Chat and a staggering 1,200 use the platform weekly.
Steve Blanchet
“…and that number is growing.”
Says Steve Blanchet, Head of Technology and Innovation at Pictet Group.
Pictet and Unique launched the entire project in only 5 months.
his move into technology innovation will allow their employees to become more efficient. Reducing hour-long tasks to minutes will free up time for more value-adding activities, which will ultimately improve the client experience.


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	]]></description><link>https://fintechnews.eu/pictet-launches-internal-chat-gpt-finance-platform</link><guid>3492</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Pictet-Launches-the-One.Chat-Platform-Co-Developed-with-Unique-1440x564_c.jpg</dc:content ><dc:text>Pictet Launches Internal Chat GPT Finance Platform</dc:text></item><item><title>Schneller als gedacht: Die Einführung des Digitalen Euro im Turbo-Modus</title><description><![CDATA[
									
					
							
					Die Europäische Zentralbank (EZB) macht Dampf. Im Oktober dieses Jahres hatte die EZB beschlossen, die Vorbereitungsphase für den Digitalen Euro einzuläuten.
Diese digitale Version des Euros, die von der EZB herausgegeben wird und als elektronisches Zahlungsmittel vorgesehen ist, soll elektronische Transaktionen direkt zwischen Verbrauchern und Unternehmen ermöglichen, ohne dass dabei kommerzielle Finanzdienstleister involviert werden. Nach Abschluss der zweijährigen Vorbereitungsphase will der EZB Rat entscheiden, ob der Weg für eine Einführung beschritten werden soll. Dann kann es schneller geschehen, als man glaubt.
Als digitales Zahlungsmittel, über dessen Verwendung auf einem zentralen Ledger genau Buch geführt wird, birgt der Digitale Euro erheblichen Gefahren für die Privatsphäre und finanzielle Autonomie eines jeden Nutzers. Transaktionen mit dieser digitalen Währung könnten nicht nur lückenlos nachverfolgt werden könnten, sondern dessen Nutzung könnte auch von staatlicher Seite auf Knopfdruck eingeschränkt oder gänzlich verhindert werden.






Warnungen vor dem Digitalen Euro aus Politik und Wissenschaft werden jedoch regelmässig in den Wind geschlagen, kurioserweise oftmals von den Befürwortern des Digitalen Euros ebenso wie von den dessen Gegnern. Denn das Argument lautet wie folgt: Der Digitale Euro kann nicht gegen den Willen der Bevölkerung eingeführt werden können. Er fände schlichtweg nicht hinreichend Nutzer.
Doch wie stichhaltig ist dieses Argument? Eine schnelle Verbreitung des Digitalen Euro ist durchaus zu bewerkstelligen, auch ohne dass es dafür einen Rückhalt in Bevölkerung gäbe. Die EZB, deren Anteilseigner die Staaten der Eurozone sind, kann bei der Einführung des Digitalen Euro auf die tatkräftige Unterstützung der Regierungen dieser Länder zählen.
freepik
Divide et Impera
Diese Regierungen könnten in einem ersten Schritt – frei nach dem Motto «Divide et Impera» also «teile und herrsche»  dazu übergehen, zunächst einmal Transferleistungen in Digitalen Euros auszubezahlen. Die gesetzliche Grundlage gäbe es hierfür, wenn der Digitale Euro wie von der EZB vorgesehen ein «obligatorisches» gesetzliches Zahlungsmittel wird.
Dieses Setup würde die Privatautonomie aushebeln und die Annahme des Digitalen Euro könnte nicht verweigert werden, ganz im Gegensatz zum herkömmlichen Euro-Bargeld. Diese Vorgehensweise hätte den Vorteil, dass zunächst einmal nicht die gesamte Bevölkerung von der Einführung des Digitalen Euros betroffen wäre, sondern lediglich diejenigen Schichten, die mit grösster Wahrscheinlichkeit nicht gegen den Digitalen Euro aufbegehren werden, da sie auf staatliche Unterstützung angewiesen sind.
Schritt für Schritt
Für Deutschland würde dies beispielsweise bedeuten, dass zunächst einmal die 3,9 Millionen Empfänger von Bürgergeld zumindest einen Teil ihrer Zahlungen in Digitalen Euros erhalten würden. Hinzu kämen die ca. 0,8 Millionen Bezieher von Arbeitslosengeld. In einem zweiten Schritt könnten gesetzliche Renten zumindest teilweise in Digitalen Euros ausbezahlt werden.
Hiervon wären ca. 25,9 Millionen Rentenempfänger betroffen. In einem dritten Schritt könnte man die Gehälter der insgesamt 5,1 Millionen Beschäftigten in öffentlichen Dienst in Digitalen Euros entrichten. Hinzu kommen dann noch, viertens, die Löhne und Gehälter von Arbeitern und Angestellten in Betrieben, die sich in staatlicher Hand befinden. Die Deutsche Bahn beschäftigt allein in Deutschland mehr als 200’000 Mitarbeiter (alle Zahlen Stand 2022).
Mithilfe dieses staatlichen Zwangs könnte die Nutzeranzahl des Digitalen Euros innerhalb von wenigen Jahren oder gar Monaten auf mehr als 35 Millionen Nutzer hochskaliert werden und damit auf mehr als 40% der Wohnbevölkerung. Ähnlich beeindruckend wären die monetären Zahlen: Würde das Sozialbudget Deutschlands in Höhe von 1,1 Billionen Euro via Digitaler Euros ausbezahlt, so würde dies fast 30% des Bruttoinlandsprodukts ausmachen.
Weitere Massnahmen zur Verbreitung des Digitalen Euros wären denkbar wie die ausschliessliche Zahlung von Subventionen in Digitalen Euros ebenso wie die Rückerstattung von Steuern in Digitalen Euros.
Nudging
Weichere Massnahmen, wie sogenanntes Nudging, könnte angewendet werden, indem Rabatte für Zahlungen mit dem Digitalen Euro eingeführt werden, bspw. für Fahrten mit öffentlichen Verkehrsmitteln oder die Begleichung von GEZ Rechnungen. Auch die Jugend könnte ins Boot geholt werden, indem Konzerte und Festivals von der EZB gesponsort werden und der Digitale Euro bei diesen Veranstaltungen als einziges Zahlungsmittel gilt.
Fazit
Während diese Beispielrechnung lediglich für Deutschland gilt, ist davon auszugehen, dass die Situation in anderen Ländern der Eurozone ähnlich ist. Doch selbst wenn man annimmt, dass die Lage in anderen Euro-Staaten grundlegend anders ist, so kämen diese Länder nicht umhin sich für den Digitalen Euro zu öffnen, da 30% des Bruttoinlandsprodukts der grössten Volkswirtschaft Europas nunmehr auf Digitalen Euro umgestellt hätte.
Aufgrund der engen wirtschaftlichen Verflechtungen innerhalb des Euroraums gäbe es auch für die europäischen Geschäftspartner kein Entrinnen mehr. Mit seinem immensen Sozialbudget könnte Deutschland zum ersten grossen Dominostein in der Eurozone werden an dessen Ende womöglich die Abschaffung des physischen Bargelds steht.
Noch sind die EZB-Aussagen zum Zeitplan der Digitalen Euro-Einführung recht vage. Doch sollte die Entscheidung zugunsten des Digitalen Euro fallen, kann der Roll-out sehr schnell geschehen. Die Gegner des Digitalen Euro sollten sich keinesfalls in Sicherheit wähnen mit dem Argument, dass der Digitale Euro ohnehin keinen Anklang bei den Nutzern fände.
Noch ist es Zeit, zukunftsweisende Alternativen zum Digitalen Euro zu entwickeln wie bspw. «tokenisierte Einlagen» und eine öffentliche Diskussion darüber zu führen. Doch dieses Zeitfenster schliesst sich. Schon bald.


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	]]></description><link>https://fintechnews.eu/schneller-als-gedacht-die-einfuhrung-des-digitalen-euro-im-turbo-modus</link><guid>3491</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Schneller als gedacht: Die Einführung des Digitalen Euro im Turbo-Modus</dc:text></item><item><title>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Gears up for 2024 Edition</title><description><![CDATA[
									
					
							
					Switzerland’s startup competition &gt;&gt;venture&gt;&gt; is inviting early-stage fintech and insurtech startups to apply for its 2024 edition which is now open for submissions until 28 February 2024.
Co-organised by ETH, McKinsey &amp; Company, Knecht Holding, Innosuisse and EPFL, &gt;&gt;venture&gt;&gt; has grown to become a cornerstone of the Swiss startup landscape since it was founded over 25 years ago in 1997.
It is worth noting that &gt;&gt;venture&gt;&gt; takes no equity, interest or fees from those participating and/or winning the competition.
Participants will receive significant financial incentives, including non-dilutive cash prizes totaling nearly CHF 600,000, with a Grand Prize of CHF 150,000.
The competition provides networking opportunities by opening doors to a rich network of industry contacts. Winners of the competition gain significant exposure in the ecosystem and media, enhancing their visibility.
Additionally, finalists benefit from mentorship and training, including pitch training workshops and individualised feedback from mentors. They will also have access to a wealth of expertise through invaluable insights from the advisory board.
&gt;&gt;venture&gt;&gt;’s Advisory Board for the Finance &amp; Insurance vertical
Who Can Participate in the 2024 Edition?
How the Competition Works
The &gt;&gt;venture&gt;&gt; competition welcomes a wide array of participants, especially those at the early stages of their startup journey. Whether you’re still fine-tuning your business idea or have already made strides with customers and funding, &gt;&gt;venture&gt;&gt; is an opportunity to take your startup to the next level, provided you’re based in Switzerland or plan to establish your business there.
Here is a 5-step guide on how to apply for the &gt;&gt;venture&gt;&gt; competition according to its playbook:
Submit Your Startup Plan: A detailed 10-20 page PDF document outlining your business on the &gt;&gt;venture&gt;&gt; website as a pitch deck which will be reviewed by the jury. According to &gt;&gt;venture&gt;&gt;, every single participant will receive highly valuable written feedback from 3 different jurors. Upon request, every applicant also receives a CHF 300 voucher valid for IP research at the Swiss Federal Institute of Intellectual Property.
Jury Round 1: The top 10 finalists will be chosen for the “Finance and Insurance” vertical based on the submitted plans. As a finalist, these startups will get access to the &gt;&gt;venture&gt;&gt; mentors. They will also be able to refine their pitching skills by participating in a pitch training session held by McKinsey &amp; Company communications experts and investors.
Jury Round 2: Following a pitch to the jury during round two, only 3 startups will be selected from the 10 finalists to move on. At this stage, each startup has already bagged the non-dilutive prize money of at least CHF 10,000.
Winner Ranking: The competition will culminate in a pitching session in front of top-level leaders of established not-for-profit organisations from &gt;&gt;venture&gt;&gt;’s advisory board. &gt;&gt;venture&gt;&gt; advises startups to share their long-term vision alongside practical short-term next steps as well as providing key figures during the pitch. The winning startup receives CHF 50,000 and a McKinsey consulting package, while the second-place finisher is awarded CHF 20,000, and the third-place receives CHF 10,000.
Grand Prize Awarded: The top winners from each of the five verticals pitch again to the entire advisory board for a chance to win an additional CHF 100,000 and the coveted Grand Prize. The ultimate Grand Prize winner will receive a total of CHF 150,000 along with a comprehensive business consulting package from McKinsey &amp; Company.
2023 Winners from the Finance &amp; Insurance Vertical
1st place: Frigg (Zug)

Streamlining sustainable finance processes for small to mid-sized renewable energy developers, reducing manual efforts and costs.
2nd place: Grape Health (Zurich)

Providing fully digital employee insurance that prioritizes physical and mental well-being, investing in preventive services for healthier teams.
3rd place: Ascentys (Courroux)

Automation of ESG assessment and reporting for companies, simplifying the process and enabling actionable reports.
Fintech News Switzerland got the opportunity to speak with these three top winners at the &gt;&gt;venture&gt;&gt; startup competition to understand their journey and their role in shaping the future of fintech and insurtech in the country.
Submit Your Idea Today for the 2024 &gt;&gt;venture&gt;&gt; Edition
The &gt;&gt;venture&gt;&gt;competition is chance for to refine your business concept through access to an extensive mentor network where you will receive expert feedback, and stand the chance to secure funding to kickstart your startup.
Moreover, the &gt;&gt;venture&gt;&gt; competition aims to support your startup journey by helping you rigorously evaluate your business plan to identify and address any weaknesses promptly, develop a practical implementation strategy, and create a comprehensive document that will be pivotal in your communications with investors and strategic partners.
Apply here for the &gt;&gt;venture&gt;&gt; 2024 edition which will be open for submissions until 28 February 2024.



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	]]></description><link>https://fintechnews.eu/swiss-startup-competition-venture-gears-up-for-2024-edition</link><guid>3489</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Venture-Banner-3-977x1024.jpg</dc:content ><dc:text>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Gears up for 2024 Edition</dc:text></item><item><title>Swiss Companies Lagging Behind Responsible AI?</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 20, 2023
																				





					
					
							
					How can companies ensure that they make responsible, reasoned, and transparent use of artificial intelligence?
At a time when the European Union is legislating to provide a better framework for AI, Ethos has published its third study on the digital responsibility of the largest companies listed on the Swiss stock exchange.
While progress has been made over the past three years, the study also shows that most companies are still not very transparent about their policies in this area and are not very well-prepared to deal with the many issues linked to their digital responsibility.






Generative AI, autonomous cars, surveillance, and facial recognition: artificial intelligence (AI) was at the heart of the news in 2023. While the European Union has just agreed on an unprecedented legislation at global level to regulate its use, Ethos is publishing its third consecutive yearly study on the digital responsibility of the largest listed companies in Switzerland.

How do companies ensure responsible use of AI? What policies are they putting in place to combat data leakage? What measures are they taking to reduce the environmental and social footprint of the technologies they use? Conducted in collaboration with EthicsGrade, this study examines companies’ practices in seven digital-related areas: governance, transparency, data protection, AI, sensitive activities, and social and environmental impact.
The 50 largest companies listed in Switzerland (SMI Expanded) were given three months to answer around 100 questions. At the same time, the same questionnaire was completed for each company based on publicly available information (websites, annual reports, sustainability reports, codes of conduct, etc.).
A growing number of good examples
The main finding of this third study is that the results are once again on the rise. All the companies have seen their score improve from one year to the next, proof that the dialogue and awareness-raising efforts undertaken by the Ethos Foundation since 2020 are bearing fruit. The average score rose from 22.8 points (out of 100) in 2022 to 27.5 points this year, with a maximum of 91.3 points for Swisscom. It was only 10.5 points in 2021, with a maximum of 39.6 points for Baloise. In all, eight companies scored more than 50 points in 2023, whereas only three had exceeded 20 points in the first study.

Perhaps even more encouraging, the results based on public information alone, which reflect the level of transparency of companies, are also up. The average is 15.6 points in 2023, compared with 11.2 points in 2022 and 8.5 points in 2021. The best result, again obtained by Swisscom, is 40 points, compared with 28.3 points in 2022 and just 18 points in the first study (Adecco). In 2023, 12 companies obtained a score based on public information of more than 20 points.
Among the most significant improvements is the fact that 39 of the 50 companies analysed now not only have a cybersecurity strategy in place, but also publish information on the subject. This corresponds to an increase of 25 companies since 2021. Or the fact that at least 40 companies have measures in place to reduce the environmental impact of the digital technologies they use, compared with just eight in 2021. Two companies (Georg Fischer and Baloise) have not only adopted a digital responsibility code but have also published it. In so doing, they met one of Ethos’ key expectations.
While this transparency does not guarantee that companies will behave beyond reproach, it is nonetheless essential. Not only does it engage the responsibility of management and enable any inconsistencies between public commitments and actual actions to be detected, but it also enables Ethos to draw on concrete examples – both good and bad – when advocating best practice to all companies.

A widening gap between the best and worst performers
Vincent Kaufmann
“Although undeniable progress has been made over the past three years, there is still a great deal of room for improvement,”
stresses Vincent Kaufmann, CEO of the Ethos Foundation.
“In particular, Swiss companies are still very reluctant to communicate publicly on issues as important as data protection and AI. It is also regrettable that Nestlé, Novartis and Roche, the three largest stock market capitalisations in Switzerland, persist in not participating voluntarily in the Ethos survey, despite the importance of these issues, particularly in their sectors of activity”.
What is perhaps most worrying is the widening gap between those companies that seem to have grasped the scale of the issues and the importance of demonstrating a degree of transparency towards them and the others.
Nearly half of the companies targeted by this study obtained a final score of less than 20 points. Among the most worrying points is the fact that only eight companies in the SMI Expanded, five more than in 2021, have adopted or claim to have adopted ethical principles relating to the use of AI. Or the fact that only eight companies claim to have a working group that focuses on issues related to ethics in AI, only one of which has public training on the subject.


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	]]></description><link>https://fintechnews.eu/swiss-companies-lagging-behind-responsible-ai</link><guid>3490</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Digital-Responsibility-Swiss-Companies-Still-Lagging-Behind-When-It-Comes-to-the-Challenges-of-AI-1440x564_c.jpg</dc:content ><dc:text>Swiss Companies Lagging Behind Responsible AI?</dc:text></item><item><title>ABN AMRO to Acquire European Neobroker Bux</title><description><![CDATA[
									
					
							
					ABN AMRO Bank announced that it has reached an agreement to acquire BUX, one of Europe’neobrokers. With this acquisition, ABN AMRO aims to strengthen its footprint in the retail investment space and substantially enhance its digital offering.
Leading market position
Since it was founded in 2013, BUX has grown to be one of Europe’s leading neobrokers with 500,000 clients, and operating across eight markets. BUX brings advanced financial technology, a user-friendly and intuitive platform, and a brand that strongly resonates with the new generation of investors. The acquisition gives ABN AMRO and BUX a combined #1 position in the Netherlands for investors who want to start building their wealth. Acquiring BUX also contributes to ABN AMRO’s pan-European growth ambition.

Annerie Vreugdenhil
Annerie Vreugdenhil, ABN AMRO’s Chief Commercial Officer Personal &amp; Business Banking: 






“It’s a lot more common now for people to start thinking well ahead about their financial future and to take control of it themselves. Over the past few years, BUX has excelled in helping clients who want to do exactly this. Welcoming BUX into the ABN AMRO family will create a unique combination of innovative user-friendliness and financial strength, stability and expertise – a powerful foundation for future growth (in the private investment domain), both for our clients and for the bank itself.”


Yorick Naeff
Yorick Naeff, CEO of BUX: 
“We’ve always had the ambition to be the leader in Europe’s retail investment arena, and joining forces with ABN AMRO is a crucial stride towards achieving this goal. We strongly believe that at BUX, our speed, agility, and relentless drive for innovation, merged with ABN AMRO’s deep expertise in personal finance and decades-long reputation, form a synergy unparalleled in the entire investment sector. This powerful combination positions BUX ideally to become a leading investment platform across Europe for everyone looking to grow their wealth for the future.”


Successful partnership


Together, BUX and ABN AMRO offer an attractive range of investment and savings products, both to new investors who want to explore the world of investments, and to more experienced clients with larger investment portfolios who are looking for expertise to help them achieve their goals. 


ABN AMRO and BUX are no strangers to each other. ABN AMRO’s venture arm, formerly known as ABN AMRO Ventures, was among the first companies to invest in BUX. Also, since 2019 BUX and ABN AMRO Clearing have enjoyed a successful partnership that links the bank’s technology to the BUX app. In 2022, 
BUX became the first broker in Europe to offer fractional European ETFs in partnership with ABN AMRO Clearing Bank. Together they built the technology that enables investors with smaller budgets to purchase parts of shares or ETFs.


The transaction is subject to approval by the regulator and is expected to be finalised in 2024.


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		]]></description><link>https://fintechnews.eu/abn-amro-to-acquire-european-neobroker-bux</link><guid>3487</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>ABN AMRO to Acquire European Neobroker Bux</dc:text></item><item><title>Leonteq Acquires 10% Stake in BX Swiss</title><description><![CDATA[
									
					
							
					BX Swiss has an additional shareholder: The Swiss financial product issuer Leonteq has acquired a 10% stake in the Swiss stock exchange. BX Swiss is a subsidiary of Boerse Stuttgart Group.
Leonteq maintains a close partnership with BX Swiss. Leonteq has been operating as an issuer since 2021 and has successfully been offering structured products in the regulated trading segment deriBX and listing exchange-traded products.
With the acquisition of a 10% share of BX Swiss by Leonteq for a single-digit million amount, the two financial institutions are laying the foundation for a long-term strategic partnership. BX Swiss will benefit from Leonteq’s investment solutions ecosystem, which facilitates connectivity and collaboration with local and global financial market participants.






In return, Leonteq will gain access to the ecosystem of Boerse Stuttgart Group, the sixth largest exchange group in Europe, and will be able to participate in the growth of Swiss exchange BX Swiss. Furthermore, the partnership aims to strengthen the position of regulated exchange trading.
«With a strategic partner like Leonteq, we can create ideal conditions for our partners. Together, we focus on the needs of self-directed investors in Switzerland and enable them to trade securities easily and cost-effectively, also thanks to our low-fee strategy.»,
says Lucas Bruggeman, CEO of BX Swiss.
The partnership will enable BX Swiss to strengthen exchange trading in structured products and other asset classes in Switzerland and to implement innovative trading and fee models.
Lukas Ruflin
Lukas Ruflin, CEO of Leonteq, adds:
«BX Swiss is an attractive partner with whom Leonteq shares a strong fit in terms of client focus and innovation. We believe that exchange access and listing of investment products will continue to play an important role for our partners and clients. We are committed to further expanding our product offering and ecosystem, and a strategic stake in BX Swiss underpins our commitment to transparency, service and liquidity, a key focus for Leonteq since its foundation in 2007.»


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	]]></description><link>https://fintechnews.eu/leonteq-acquires-10-stake-in-bx-swiss</link><guid>3488</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Leonteq Acquires 10% Stake in BX Swiss</dc:text></item><item><title>Coop hat neu Crypto-Gutscheinkarten im Regal</title><description><![CDATA[
									
					
							
					Coop hat neu die Krypto-Gutscheinkarten von Cryptonow ins Sortiment aufgenommen. Damit ist Coop die erste grosse Schweizer Detailhändlerin, die ihrer Kundschaft den Kauf von Kryptowährungen ermöglicht.
Simon Grylka
Simon Grylka, CEO der Cryptonow Group AG, betont die Bedeutung dieser Partnerschaft:
„Unsere Mission ist es, Kryptowährungen für alle einfach und sicher zugänglich zu machen. Die Zusammenarbeit mit Coop markiert einen bedeutenden Schritt in der weiteren Akzeptanz von Kryptowährungen.“
Kryptowährungen einfach kaufen und sicher nutzen
Mit Cryptonow kann man Kryptowährungen direkt im Laden kaufen. Die Gutscheinkarten sind in verschiedenen Wertstufen von CHF 50 bis CHF 500 erhältlich. Nach dem Kauf lassen sich diese in nur wenigen Schritten aktivieren. Das Besondere: Die Kryptowährung befindet sich nach der Aktivierung direkt auf der Gutscheinkarte, die gleichzeitig als sogenanntes Offline Wallet dient – die sicherste Form der Krypto-Aufbewahrung.






Ab sofort sind Cryptonow Gutscheinkarten in 160 Coop-Filialen in der ganzen Schweiz erhältlich. Coop ermöglicht somit seinen Kundinnen und Kunden den direkten Kauf von Bitcoin und Ethereum im Laden.


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		]]></description><link>https://fintechnews.eu/coop-hat-neu-crypto-gutscheinkarten-im-regal</link><guid>3485</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Coop hat neu Crypto-Gutscheinkarten im Regal</dc:text></item><item><title>Apex Group Invests Into Luxembourg’s Tokenization Pioneer Tokeny</title><description><![CDATA[
									
					
							
					Apex Group, a global financial services provider, announced their investment as the strategic lead investor in Tokeny, a leading enterprise-grade tokenization solutions provider based in Luxembourg.
This move solidifies Apex’s dedication to leading the digitization of finance, with tokenization at its core. By leveraging Tokeny’s expertise, Apex is strategically positioned to provide its single-source solution in the tokenization era to lead digital transformation and drive positive change in the financial services space.
Apex Group’s extensive global reach and commitment to providing cross-jurisdictional services are central to its business approaches. With over 12,000 employees in 112 offices worldwide, Apex offers a unique single-source solution, delivering a wide array of services to a diverse clientele. This includes asset managers, capital markets, corporates, and family offices.






The collaboration between Apex and Tokeny is aimed at ushering institutions into the tokenized financial market, which is seen as the future of the capital market. Tokeny acts as an enabler for Apex to allow their clients to tokenize assets on the blockchain, thereby reducing operational costs and increasing revenues by reaching broader investors compliantly and seamlessly. Tokeny’s integration into Apex’s single-source solution is pivotal in this strategy, positioning Apex as a leading innovator in the tokenized era. This partnership is expected to catalyze the widespread adoption of tokenization.
Peter Hughes
We at Apex Group are pleased to embark on this journey with Tokeny. This investment is more than a financial commitment; it represents our belief in the transformative power of tokenization in the financial sector. We are confident that our collaboration with Tokeny, a leader in this revolutionary field, will pave the way for innovative, digitized financial solutions that meet the evolving needs of our clients and the market.
Peter Hughes, Founder and CEO of Apex Group.
Luc Falempin
The partnership with Apex Group marks a significant milestone for Tokeny. In the last six years, we’ve meticulously developed a complete suite of solutions and a comprehensive ecosystem to support institutions on their tokenization journey. The market is in dire need of influential institutional players like Apex to drive and expedite the industry’s advancement. We’re exhilarated to be integrated into Apex’s strategic vision, joining forces to turn the blueprint of a digitized financial future into reality.
Luc Falempin, CEO Tokeny Solutions.

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	]]></description><link>https://fintechnews.eu/apex-group-invests-into-luxembourgs-tokenization-pioneer-tokeny</link><guid>3486</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Apex Group Invests Into Luxembourg’s Tokenization Pioneer Tokeny</dc:text></item><item><title>Raiffeisen Schweiz Goes Digital Assets</title><description><![CDATA[
									
					
							
					Raiffeisen Schweiz joins SDX, a Swiss regulated financial market infrastructure for digital assets.
SDX operates a stock exchange and CSD utilizing distributed ledger technology (DLT).
These memberships position Raiffeisen Schweiz at the forefront of the digital asset revolution and align with its ambition to issue native digital products upon joining the SDX CSD.






SDX offers a blockchain-based platform for the issuing, trading, settling, and custody of digital securities. Its “atomic settlement” feature synchronizes trade execution, securities transfer, and payment, eliminating counterparty risks for clients. Furthermore, SDX’s integration with SIS (SIX CSD) facilitates access for institutional clients, bridging the gap between digital and traditional infrastructures.
Werner Leuthard
“By joining the SDX ecosystem, Raiffeisen Switzerland increases its footprint and experience in digital assets with the aim of actively contributing to the development of the digital assets industry and product landscape”,
says Werner Leuthard, Head of Trading at Raiffeisen Switzerland.


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		]]></description><link>https://fintechnews.eu/raiffeisen-schweiz-goes-digital-assets</link><guid>3484</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Raiffeisen Schweiz Goes Digital Assets</dc:text></item><item><title>Swiss Robo Advisor True Wealth Reports Strong Demand for New Kids Portfolios</title><description><![CDATA[
									
					
							
					In September 2023, True Wealth was the first Robo Advisor who launched an ETF-based investment solution for children and young people.
The new offering has now been very well received by the market: since its launch in September, the ETF-based portfolios for children and young people have been in high demand report True Wealth.
Felix Niederer
«Of the 1’000 securities portfolios opened, 50 percent are for the 0 to 6 age cohort, with the youngest child only a few weeks old,»
says CEO Felix Niederer, summing up the current situation. The investment amounts range from a thousand to over half a million francs per child. This confirms that the child’s long investment horizon is being put to good use and that a favorable balance between risk and return can be achieved.






Strengthening the financial education of young people
True Wealth’s children’s portfolio is a separate, legally protected account with its own investment strategy. Upon reaching the age of majority, the right of disposal is transferred to the child without the need to liquidate or transfer securities.
The account must be opened by the legal representative, i.e. the mother or father. Once opened, all family members and friends can pay in.
«Our experience since the launch shows that children’s portfolios are not only in demand from parents, but often also meet the wishes of grandparents in particular,»
says Niederer.
The investment strategy is determined by the parents, but as soon as the child is capable of making decisions, parents can involve them in the decisions. Like everything else at True Wealth, this is done conveniently and easily online. Children and young people experience the market development of their portfolio live and familiarize themselves with volatility.
Children can also make their own investment suggestions, although parents always have the last word.


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	]]></description><link>https://fintechnews.eu/swiss-robo-advisor-true-wealth-reports-strong-demand-for-new-kids-portfolios</link><guid>3483</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Swiss Robo Advisor True Wealth Reports Strong Demand for New Kids Portfolios</dc:text></item><item><title>AllUnity to Launch EUR-Denominated Stablecoin</title><description><![CDATA[
									
					
							
					Flow Traders has partnered with DWS and Galaxy to establish AllUnity, a collaborative effort to introduce a regulated EUR-denominated stablecoin.
The primary objective of this partnership is to explore opportunities within the on-chain economy by creating a fully collateralised stablecoin.
AllUnity’s core partners, Flow Traders, DWS, and Galaxy, each bring their expertise to the project. DWS contributes portfolio management and product structuring capabilities, Flow Traders brings liquidity provisioning experience, and Galaxy offers technical infrastructure.






Together, they aim to develop a regulated EUR-denominated stablecoin with potential applications for institutional, corporate, and private users. This initiative comes when the regulatory landscape for digital assets in the European Union is evolving, with the recent adoption of the Markets in Crypto Assets Regulation (MiCAR).
AllUnity plans to apply for an e-money license from BaFin, Germany’s financial supervisory authority, to launch the stablecoin within 12 to 18 months, contingent on regulatory approvals.
Alexander Höptner
Alexander Höptner, designated CEO of AllUnity said,
“The envisaged partnership between DWS, Flow Traders and Calaxy is unique. Their market reach and expertise will enable AllUnity to develop a go—to—market strategy for a viable EUR—denominated stablecoin in order to advance the on—chain economy.”

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		]]></description><link>https://fintechnews.eu/allunity-to-launch-eur-denominated-stablecoin</link><guid>3482</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>AllUnity to Launch EUR-Denominated Stablecoin</dc:text></item><item><title>Miles &amp; More and qiibee Transform Loyalty Rewards with Blockchain</title><description><![CDATA[
									
					
							
					Miles &amp; More, the loyalty program of the Lufthansa Group, has partnered with blockchain-based B2B marketplace qiibee to allow small and mid-size enterprises (SMEs) to join the program easily.
The key highlight of this collaboration is the integration of blockchain technology, which simplifies the onboarding process for SMEs while ensuring the secure and efficient management of loyalty rewards.
qiibee’s blockchain-based marketplace offers instant, cost-effective transactions and guarantees full data privacy control. Through this integration, Miles &amp; More members gain access to a broader and more diverse network of partners, including regional businesses.






The partnership also aims to enhance connectivity between enterprises and customers, with plans to onboard more partners and launch a Shopify plug-in for seamless integration.
Johann-Philipp Bruns
Johann-Philipp Bruns, Managing Director of Miles &amp; More GmbH:
“The partnership is a win-win situation for everyone. We are expanding our partner network with exciting and diverse enterprises. These, in turn, gain access to our members and thus to a further, demanding target group in the premium segment.”
Gabriele Giancola
Gabriele Giancola, CEO at qiibee:
“The qiibee blockchain is 100 percent focused on the needs of the loyalty market, featuring instantaneous, low-cost transactions and full control over data privacy. This will position our technology further as the industry standard for Web3 loyalty partnerships.”

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		]]></description><link>https://fintechnews.eu/miles-more-and-qiibee-transform-loyalty-rewards-with-blockchain</link><guid>3481</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Miles &amp; More and qiibee Transform Loyalty Rewards with Blockchain</dc:text></item><item><title>Worldline Introduces Metaverse Shopping Hub</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 13, 2023
																				





					
					
							
					Worldline has released the Worldline Metaverse Shopping Hub within Spatial, a significant upgrade to its white-label solution for merchants seeking access to the Metaverse.
Through this platform extension, online businesses will be able to benefit from major advances in graphical quality and accessibility across desktop, mobile and VR devices. With the Metaverse e-commerce marketplace estimated to reach US$2.6 trillion by 2030 according to McKinsey, this platform extension will provide merchants who do not have a Metaverse presence with a market-leading solution and offer their customers an even more engaging experience in the new era of commerce.
After a successful launch of the Worldline Metaverse Shopping Mall earlier this year in Decentraland, Worldline now adds Spatial, thus creating a Metaverse Shopping Hub across various Metaverse platforms.






Understanding the transformative nature of gaming’s influence on the digital world, season two within Spatial will provide new customer engagement methods supportive of the digital environment’s pre-existing intuitive behaviours. For example, merchants can incentivise users to participate in virtual scavenger hunts, allowing them to collect digital eggs in exchange for community card NFT rewards.
image source: Worldline

Sascha Muenger
Sascha Muenger, Head Competence Center Crypto Related Products &amp; Metaverse at Worldline says:
“We are delighted to present the second season of our Metaverse Shopping Mall in Spatial. This important milestone gives us the opportunity to create a new shopping experience together with some of our most innovative customers and take another step towards commerce solutions in the Metaverse.”
Expanding reach in Germany and Austria with PAYONE
The launch of the Metaverse Shopping Hub Season Two also marks a geographical expansion: PAYONE, a joint venture between Worldline and the German Savings Banks Association (DSV Group), will also distribute the Worldline Metaverse White Label solution in Germany and Austria, starting in the 1st quarter of 2024.
This collaboration will bring global innovation to important local markets and will help to further scale the Worldline Metaverse Shopping Mall, allowing more merchants to gain initial experience around the Metaverse as a potential new commerce channel alongside point of sale and eCommerce.





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	]]></description><link>https://fintechnews.eu/worldline-introduces-metaverse-shopping-hub</link><guid>3479</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Worldline-Introduces-Metaverse-Shopping-Hub-and-Expands-the-Reach-of-Its-Metaverse-White-Label-Solution-With-Its-German-JV-PAYONE-1440x564_c.jpg</dc:content ><dc:text>Worldline Introduces Metaverse Shopping Hub</dc:text></item><item><title>UBS Report: Generative AI for Financial Services</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 13, 2023
																				





					
					
							
					In the financial services industry, generative artificial intelligence (AI), a class of AI systems designed to generate new, original content autonomously, is being deployed to automate time-consuming, tedious jobs in areas including customer service, fraud prevention, coding and information analysis.
However, its use in more sensitive tasks closer to the core of financial service business models remains limited, hindered by regulatory hurdles and weaknesses in the technology itself, a new report produced by the MIT Technology Review Insights and developed in partnership with UBS Group says.
The report, which is based on six in-depth interviews with senior executives and experts conducted in June to September 2023, looks at the early impact of generative AI within the financial sector and the barriers that need to be overcome in the long run for its successful deployment.






According to the report, banks have started deploying generative AI nimbly, focusing on use cases revolving around cutting costs and freeing employees from low-value, repetitive work. But despite the potential benefits of enhanced productivity and improved efficiencies, financial services companies are facing challenges in adopting these new technologies due to entrenched legacy systems, regulatory risks and challenges relating to bias and accountability.

Customer service
According to the report, financial services firms have so far focused their generative AI deployment efforts on customer service, fraud prevention, coding and software development, and information analysis.
In customer service, the report notes that the most common innovation is the creation of chatbots for either direct use by customers or company service agents. These generative AI-powered chatbots and virtual assistants are used to provide round-the-clock customer support, create instant and accurate responses, and offer highly personalized customer interactions.
At Betterment, an American financial advisory company, a chatbot based on predictive AI has already “reduced the workload on our customer service team drastically,” John Mileham, CTO of Betterment, told the MIT Technology Review Insights in his interview.
Lito Villanueva, chief innovations officer and executive vice president of Rizal Commercial Banking Corporation (RCBC), said during his interview that a generative AI–based chatbot is one of the bank’s leading digital priorities, noting that these tools allow for “real-time quality customer service interactions and contributes to a seamless customer experience” by facilitating the filing of complaints, accommodation of client requests, and collection of relevant customer data.
Fraud prevention
Another popular generative AI use case outlined in the report is fraud prevention. For some years, financial services companies have been using advanced technologies, including predictive AI, to improve risk management and fraud prevention, but generative AI allows the sector to go further, notably through greater integration of unstructured data into these efforts, the report says. By using such information, companies can identify new patterns and anomalies with associated risks at both a micro level, such as the potential for an individual to default, but also at a broader one, like market trends.
Use of generative AI is particularly accelerating in the payment industry where players such as Visa and PayPal have already deployed the technology to prevent fraudulent transactions by blocking suspicious ones. Fintech companies, including such as Datavisor, Feedzai, and Forter, have also integrated generative AI into their off-the-shelf solutions to reduce payment fraud.
Coding and software
In the banking sector, generative AI is also being used for coding and software development. If properly trained, these tools can produce requested computer code as easily as others can answer questions or generate pictures, addressing technical challenges, accelerating development processes and driving innovation, the report says.
Goldman Sachs, for example, has started using generative AI tools to help its code developers. In Australia, Westpac ran a trial with generative AI to assist its coders and found a 46% productivity gain against a control group, with no reduction in code quality.
Meanwhile, Betterment’s Mileham said that his company is using generative AI software to help with debugging. The company has also procured GitHub Copilot, a cloud-based AI tool, to help with code generation and auto-completion.
Information analysis and summarization
Generative AI is also being used for information analysis and summarization, offering valuable applications in the financial services sector that enhance employee performance. This includes tasks such as querying the latest public regulations globally, generating research reports, pitch decks, customer sentiment analyses, and instruction manuals, acting as a knowledgeable “virtual expert”.
Morgan Stanley, for example, has reportedly built an AI assistant, using GPT-4, that helps its tens of thousands of wealth managers quickly find and synthesize answers from a massive internal knowledge base. The tool also summarizes the content of client meetings and generates follow-up emails.
Another leading bank reported it’s close to cutting the time to produce an investment brief by more than 90%, from nine hours to 30 minutes, by using generative AI, according to McKinsey.
And at Man Group, a large hedge fund, managers have found that generative AI can speed up initial research by reviewing academic papers and spotting patterns.
Challenges in adoption generative AI
Despite the many opportunities and benefits brought about generative AI, financial services companies are facing challenges in adopting the new technology. One of the main hurdles shared by the interviewees is the sector’s entrenched legacy systems, including their outdated software and obsolete siloed data storage arrangements.
For example, in the banking sector, the prevalence of COBOL, a six-decade-old programming language, is hindering adaptability to modern technological advancements. As of 2017, 43% of banking systems relied on COBOL, which was also behind 80% of credit card transactions and 85% of ATM activity.
The adoption of generative AI is also challenged by a shortage of talent and expertise. Since the technology is considered new, this makes it difficult to find experienced professionals in the field. But as the technology evolves over time, the report says that the availability of skilled talent will increase, especially with new entrants into the workforce.
Also, generative AI applications, while impressive, are considered general-purpose tools that may not fully address the specific needs of the financial services industry. This requires the necessary customization to meet the particular requirements of the sector.
Additionally, significant challenges lie in ensuring the reliability of the generated output, as well as addressing bias and ensuring accountability.
Finally, UBS research points to potential regulation as the main barrier to adoption of generative AI in the fintech space. The anticipation of regulatory frameworks and guidelines may impact how businesses approach the integration of generative AI, especially in fintech applications.

The potential of AI
AI is expected to impact all major industries, promising to profoundly transform the way firms conduct business. Across key industries, banking is set to have one of the largest opportunities, with AI potentially adding an estimated US$1.2 trillion in global value annually, new data released by McKinsey show.
The estimates, shared in a new report titled “Capturing the full value of generative AI in banking”, reveal that the economic impact of AI will likely benefit all banking segments and functions, with the greatest absolute gains in risk and legal (US$385 billion annually), corporate banking (US$321 billion), and retail banking (US$306 billion).
Value created by AI at stake by segment and fucntion, US$ billion, Source: Capturing the full value of generative AI in banking, McKinsey, Dec 2023
Generative AI is one branch of AI that’s highlighted in the report for its potential to automate routine tasks, improve efficiencies, and enhance recommendation engines and customer experiences. McKinsey estimates that generative AI could deliver an annual potential of US$200 billion to US$340 billion (equivalent to 9 to 15% of operating profits) in the banking sector.
Generative AI productivity impact by business functions, Source: McKinsey and Company, June 2023

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	]]></description><link>https://fintechnews.eu/ubs-report-generative-ai-for-financial-services</link><guid>3477</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/UBS-Report-Generative-AI-for-Financial-Services-1440x564_c.jpg</dc:content ><dc:text>UBS Report: Generative AI for Financial Services</dc:text></item><item><title>Visa Payment Monitor Schweiz 2023</title><description><![CDATA[
									
					
							
					Wenn es um Geld geht, greifen Konsumenten in der Schweiz immer häufiger zum Smartphone.
Das zeigen die Ergebnisse der dritten Auflage des Schweizer Visa Payment Monitors in Zusammenarbeit mit forsa. Laut der repräsentativen Onlinebefragung unter 1000 Menschen in der Schweiz bezahlen fast vier von zehn Schweizern (37%), indem sie ihr Mobiltelefon oder Wearable an der Kasse auflegen. Vor zwei Jahren lag der Anteil noch bei 25 Prozent.
Insgesamt nutzen fast drei Viertel (72%) der Schweizer:innen inzwischen am liebsten digitale Zahlungsmethoden, wobei es besonders wichtig ist, dass das Bezahlen schnell geht (59%) und ihnen ein guter Überblick über die Ausgaben ermöglicht wird (53%). 27 Prozent aller Deutschschweizer meiden aktiv Geschäfte, in denen sie nicht digital zahlen können – in der Romandie sind es gar 34 Prozent und im Tessin sogar 37 Prozent (schweizweit: 29%).






Obwohl neun von zehn Konsument:innen (91%) inzwischen angeben kontaktlos zu zahlen, funktioniert digitales Bezahlen auch 2023 noch nicht überall. Jede:m Dritte:n (36%) passiert es mindestens einmal im Monat, dass sie nicht mit Karte, Smartphone und Co. bezahlen können. Zu den am häufigsten genannten Einkaufsmöglichkeiten, wo Konsument:innen digitale Bezahlmöglichkeiten vermissen, gehören Wochen- und Weihnachtsmärkten (20% bzw. 17%) und kleine Geschäfte (17%).

Zahlungsdaten vielfach digital hinterlegt
Zwei Drittel (67%) der Konsument:innen haben ihre Kreditkarte inzwischen digital gespeichert. Mit der Einführung moderner Debitkarten, mit denen nun auch online bezahlt werden kann, hinterlegen bereits 59 Prozent ihre Debitkarte in digitaler Form. Besonders häufig sind Kartendaten in Bezahlapps (66%), Onlineshops (33%) sowie Streamingdiensten (29%) hinterlegt.

Insgesamt geben sieben von zehn Menschen in der Schweiz (72%) an, mit mobilen Endgeräten im Internet einzukaufen, ein Plus von 7 Prozentpunkten im Vergleich zum Vorjahr. Mehr als die Hälfte (52%) versendet zudem mindestens einmal im Monat Geld per App an Familienmitglieder, Bekannte oder Freunde innerhalb der Schweiz, wobei sich jede:r Zweite (50%) eine Lösung wüscht, mit der man auch nahestehenden Menschen im Ausland direkt per App Geld schicken kann.
Santosh Ritter
«Digitale Technologien prägen zunehmend den Umgang mit Geld und ermöglichen Flexibilität, Transparenz und Kontrolle»,
sagt Santosh Ritter, Country Manager Visa Schweiz und Liechtenstein.
«Der Visa Payment Monitor zeigt, dass die Menschen in der Schweiz in zunehmendem Masse elektronisch bezahlen und sich zugleich weitere Innovationen wünschen, wenn es darum geht, Geld digital zu bewegen.»
Banking-Apps ersetzen bei der Ausgabenkontrolle den Blick ins Portemonnaie
Auch um tägliche Ausgaben im Blick zu behalten, werden inzwischen digitale Bezahlmethoden (65%) bevorzugt. Bargeld bietet nur noch für 29 Prozent der Befragten die beste Ausgabenkontrolle. Letztes Jahr waren es noch 35 Prozent. Für den Überblick über die Finanzen nutzen 66 Prozent am liebsten ihre Banking-App. Kontoauszüge aus Papier sieht die Hälfte (51%) als nicht mehr zeitgemäss an, doch 43 Prozent nutzen sie weiterhin.

Generationenunterschiede im Bezahlverhalten gehen zurück – lieber Smartphone als Portemonnaie
Im Vergleich zu früheren Auflagen der Studie zeigt sich, dass die über 60-Jährigen beim kontaktlosen mobilen Bezahlen deutlich aufholen. Jede:r Vierte (25%) von ihnen hat schon einmal mobil bezahlt, ein erhebliches Wachstum im Vergleich zum Vorjahr (+14 Prozentpunkte). Wobei auch die junge Generation der unter 36-Jährigen hier weiter zulegt. Von ihnen hat inzwischen mehr als die Hälfte per Smartphone oder Wearable an der Ladenkasse (52%) bezahlt, ein Plus von 8 Prozentpunkten gegenüber 2022. Müssten sie zwischen Smartphone oder Portemonnaie wählen, würde sich inzwischen auch mehr Menschen über 60 für das Mobiltelefon (49%) als für das Portemonnaie (47%). Entsprechend hat auch bei der Schweizer Gesamtbevölkerung das Smartphone (59%) erstmals gegenüber dem Portemonnaie (38%) die Nase vorn.
Super-App und Selbstbedienungskassen als Standard in fünf Jahren erwartet
Mit Blick auf die Zukunft erwarten Konsument:innen eine weitere Digitalisierung des Alltags. So glauben 72 Prozent, dass es Standard sein wird, im stationären Handel an Selbstbedienungskassen zu bezahlen. Schon heute nutzen 39 Prozent der Befragten diese Kassen, wenn diese verfügbar sind. Mehr als die Hälfte (56%) glaubt zudem, dass es in fünf Jahren alltäglich sein wird, Einkäufe vorab zu bestellen und im Supermarkt lediglich abzuholen. Ausserdem erwarten 46 Prozent der Befragten, Super-Apps würden sich durchsetzen, die verschiedene Anwendungen wie Shopping, Onlinebanking und Messaging-Dienste kombinieren.



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	]]></description><link>https://fintechnews.eu/visa-payment-monitor-schweiz-2023</link><guid>3480</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Visa Payment Monitor Schweiz 2023</dc:text></item><item><title>UBS Key4 Starts Offering Digital Investing for Kids</title><description><![CDATA[
									
					
							
					With the digital investment solution UBS key4 smart investing, adult clients can now digitally open investment accounts as a gift for children and invest directly in selected funds – simply via their smartphone.
UBS key4 smart investing is ideal for parents, grandparents, godparents and anyone who wants to save for a child and is an attractive alternative to the classic UBS youth savings account. Children in particular benefit from a long investment horizon.
From a minimum amount of 50 Swiss francs, it is possible to invest regularly in selected funds with a standing order or with individual payments. A wide selection of more than 20 actively and passively managed funds is available, many of which are sustainably oriented. With the personal investor profile, clients receive an investment proposal that they can adapt to their needs. This consists of broad-based UBS strategy funds or thematic funds with a focus on topics such as digitalization or megatrends. Clients can manage their investments independently and around the clock in the app.






A UBS youth savings account can now be opened completely digitally as a gift savings account with or without the digital gift investment solution. The opening process only takes a few minutes and by eliminating the need for paper documents, our clients save a lot of time.
Sabine Magri
Sabine Magri, COO UBS Switzerland:
“By the end of the year, more than 200 000 clients will be using at least one UBS key4 product. The new gift investment account is the next step in the continuous expansion of our digital offering, which will enable us to respond even better to the ever-changing needs of our clients.”


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			&#13;
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		]]></description><link>https://fintechnews.eu/ubs-key4-starts-offering-digital-investing-for-kids</link><guid>3478</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>UBS Key4 Starts Offering Digital Investing for Kids</dc:text></item><item><title>SumUp Secures €285 Million Funding Round Amidst Global Fintech Fluctuations</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 12, 2023
																				





					
					
							
					SumUp, a London-based fintech company with German and Swiss origins, has recently raised approximately €285 million (around US$307 million) in growth funding. This funding comes at a time when the fintech market is experiencing notable fluctuations, making SumUp’s successful capital raise noteworthy.
The company, which offers payment and related services to around 4 million small businesses across Europe, the Americas, and Australia, plans to use this investment to expand its financial services.

Currently, SumUp provides a range of products including card readers, invoicing, loyalty programs, and business accounts. With this new funding injection, SumUp aims to grow organically and explore expansion into new geographical markets beyond the 36 countries where it currently operates.






In addition to organic growth, SumUp is also focusing on inorganic growth strategies such as mergers and acquisitions. This approach is particularly relevant in the current market, where fintech startups are facing a more challenging funding environment. Recent S&amp;P data indicates a global decrease of 36% in fintech funding over the last quarter.
SumUp’s strategic move into the US market was bolstered by its acquisition of Fivestars, a loyalty startup, in 2021. This expansion not only increased its geographical footprint but also diversified its service offerings.
Hermione McKee
Hermione McKee, SumUp’s recently-appointed CFO, stated that the recent funding is primarily equity-based, though exact financial figures were not disclosed.
She confirmed that the company’s valuation is now higher than its 2022 valuation of US$8.5 billion, achieved during a funding round that raised €590 million.
Despite a positive EBITDA since the fourth quarter of 2022 and over 30% growth in its top line year-on-year, SumUp faces challenges in a competitive market. The company’s customer base has remained static at around 4 million for the past two years. Moreover, recent market shifts were highlighted by Groupon’s sale of part of its stake in SumUp at a valuation of US$4.1 billion, less than half of its 2022 valuation.
SumUp’s current scenario reflects the broader trends in the fintech industry, where companies like PayPal and Square have also seen fluctuations in their share prices and market caps since 2022. As SumUp celebrates its 11th year of operations, the company’s longevity in the market is seen as a key factor in its continued stability and growth prospects, drawing attention from investors including Sixth Street Growth.





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	]]></description><link>https://fintechnews.eu/sumup-secures-285-million-funding-round-amidst-global-fintech-fluctuations</link><guid>3476</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/SumUp-Secures-E285-Million-Funding-Round-Amidst-Global-Fintech-Fluctuations-1440x564_c.jpg</dc:content ><dc:text>SumUp Secures €285 Million Funding Round Amidst Global Fintech Fluctuations</dc:text></item><item><title>Germany’s Payroll Software Startup Lano Lands TX Ventures Funding</title><description><![CDATA[
									
					
							
					In the payroll software sector, the German-based startup Lano has recently secured a substantial investment led by TX Ventures. This new funding, complemented by contributions from existing investors like Atlantic Labs, is earmarked to enhance Lano’s growth and bolster its payroll and fintech offerings.
Lano is known for its payroll consolidation software, and offers a comprehensive solution for businesses globally to hire, manage, and remunerate employees. The platform centralises payroll data from various sources, presenting a unified view of all employee payroll details.
This integration not only negates the need for manual data entry but also significantly reduces reconciliation efforts, offering time and cost savings to businesses.






Aurel Albrecht
Aurel Albrecht, Co-founder and CEO of Lano, expressed enthusiasm about the new partnership with TX Ventures, stating,
“This funding will allow us to continue to develop our innovative payroll consolidation software and expand our fintech capabilities. We are committed to providing businesses with the tools they need to streamline their payroll processes and improve their bottom line.”
Krzysztof Bialkowski
Krzysztof Bialkowski, Managing Partner at TX Ventures, shared similar sentiments, lauding Lano’s team, technology, and market potential.
“We believe that Lano has the potential to become a leader in the payroll software market. We are excited to support the company’s growth and help it achieve its full potential,”
he remarked.
This new investment puts Lano on a trajectory for rapid expansion, solidifying its position as a significant entity in the payroll software industry. The company says that it remains dedicated to equipping businesses with effective and efficient payroll management tools.

Featured image credit: Lano founders Aurel Albrecht (left) and Markus Schünemann (right)


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	]]></description><link>https://fintechnews.eu/germanys-payroll-software-startup-lano-lands-tx-ventures-funding</link><guid>3474</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Germany’s Payroll Software Startup Lano Lands TX Ventures Funding</dc:text></item><item><title>Basel Committee to Revise CryptoAsset Risk Standards</title><description><![CDATA[
									
					
							
					The Basel Committee on Banking Supervision met virtually on 5 and 7 December to discuss a range of policy and supervisory initiatives.
The Committee took stock of its review of various elements of the prudential standard for banks’ exposures to cryptoassets published in December 2022.
It agreed to consult on potential targeted revisions related to the criteria for stablecoins to receive a preferential regulatory treatment. The Committee will also consult on various technical amendments to help promote a consistent understanding of the standard.






The Committee concluded that cryptoassets that use permissionless blockchains create risks that cannot be sufficiently mitigated at present and therefore agreed to retain the existing treatment for such cryptoassets. A consultation paper about that topic will be published this month.
The Committee also reviewed the risks arising from banks providing cryptoasset custody services. Such services raise various operational risks for banks, which reinforces the importance of full implementation of the Principles for operational resilience and those for the sound management of operational risk.
The Committee will continue to monitor the evolution of banks’ cryptoasset custody activities and, taking account of market developments, will consider whether any additional work may be needed.

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			&#13;
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		]]></description><link>https://fintechnews.eu/basel-committee-to-revise-cryptoasset-risk-standards</link><guid>3475</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Basel Committee to Revise CryptoAsset Risk Standards</dc:text></item><item><title>DACH Payment Survey: Contactless Debit Card Preferred, but Cash Is Still King</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 11, 2023
																				





					
					
							
					Cash is the primary form of payment across Europe, being most frequently used in Austria and Germany and least frequently used in Finland.
However, the frequency of payment method usage varies greatly between countries and age groups. The characteristic of anonymity is only attributed to cash, while the characteristics of speed and convenience are attributed to digital payment methods such as card payments and payment services.
Cash is king in German-speaking countries
Cash use is significantly higher in Austria (79%) and Germany (71%) than in other European countries. Respondents from Switzerland (63%), Ireland (61%), the Netherlands (57%), and France (55%) also show a relatively high level of cash use but are well behind Germany and Austria. Finland has a significantly lower frequency of cash usage at 43%.






Cash usage also varied across the surveyed age groups. The most frequent use of cash is seen in the 55+ age group in Austria, at 86%, while Finland has the lowest frequency in this age group at 39%. In general, the 55+ age group uses cash most frequently, except in Finland, where the 35-44 age group uses cash most frequently at 51%. In the 18-24 age group, Austria again tops other countries at 68%, whereas France has the lowest frequency of cash usage in this age group at 37%.

Contactless debit card most frequently used payment method in Finland
In Finland, the contactless debit card is the most frequently used payment method across all age groups at 71%, which is significantly higher than cash use. On average, the contactless debit card is the second most frequently used payment method in the countries surveyed at 56%. Cash and contactless debit cards are used almost equally frequent in France, Ireland, and the Netherlands. Compared to the other countries, the frequency of use of non-contactless debit cards is lowest in Finland at 17%, which is well below the average of 33% for the countries surveyed.
People in France still frequently use cheques as a payment method
For France, it can be seen in the 18-24 age group that no payment method is preferred for frequent use. At a relatively low level, there is a very homogeneous frequency of use of cash, card payments, mobile payment services and online payment services and digital wallets in the range between 24% and 37%. Cheques, on the other hand, are clearly lagging behind at 6%, while the frequency of use in France is steadily increasing across the age groups and is highest for the 55+ age group at 41%. Cheques are almost not used as a payment method in the other countries.
Mobile payment services used mainly by younger people in Ireland and France
In most countries, contactless debit cards are used evenly across all surveyed age groups. The exceptions are France and Ireland, where the 18-24 age group differs significantly compared to the national average, with the lowest frequency of contactless debit card use in this age group at 31% in France, closely followed by Ireland at 40%. In contrast, mobile payment services are used significantly more frequently in the 18-24 age group in France at 33% and Ireland at 54% than the national average for the other age groups.
Christian Bruck
It is interesting to see that cash is very common across all age groups and is clearly number one among respondents. It is also noteworthy that in the 18-24 age group, cash is used more frequently on average than mobile payment services. From my point of view, the contactless debit card has experienced more intensive use during the pandemic and established itself as a heavily used digital payment method in Europe.
Christian Bruck, Partner and payments expert at BearingPoint
Anonymity is only attributed to cash
43% of respondents attribute the characteristic of anonymity to cash, while card payments and payment services are not assigned this characteristic. With 56% of respondents, Austria is the leader in the country comparison for the anonymity characteristic of cash. Contactless cards are rated as fast by 64% and as convenient by 57% of respondents on average, putting them above the other payment methods surveyed. There are clear differences between countries. Regarding contactless cards, 74% of respondents in Finland agree with the characteristic of fast, and 69% agree that they are convenient, while in Germany, only 54% agree with fast, and 42% agree that they are convenient.
For payments between private individuals, country-specific digital payment methods are used
Austria and France remain loyal to the traditional payment methods of cash and bank transfer, with cash being the most frequently used payment method for payments among private individuals in Austria at 64% and bank transfer at 64% in France.
Individual digital payment providers are the first port of call for payments among private individuals in the Netherlands (69%), Switzerland (62%) and Ireland (55%).
One in two had experienced problems or concerns with digital payment methods
Around one in two respondents had problems or concerns when using digital payment methods. In Ireland, most respondents (63%) stated they had experienced problems or concerns, whereas in Finland, only 38% had experienced either.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/dach-payment-survey-contactless-debit-card-preferred-but-cash-is-still-king</link><guid>3472</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/DACH-Payment-Survey-Contactless-Debit-Card-Preferred-but-Cash-Is-Still-King-1440x564_c.jpg</dc:content ><dc:text>DACH Payment Survey: Contactless Debit Card Preferred, but Cash Is Still King</dc:text></item><item><title>Fintech Venture Fund Canapi Raises $750m</title><description><![CDATA[
									
					
							
					Canapi Ventures, a fintech venture capital fund backed by nearly 70 financial institutions and strategic investors across the United States, announced the raise of a $750 million Fund II.
Canapi is backed by the Canapi Alliance, the fund’s network of strategic banks and financial partners institutions across North America, as well as institutional investors. This latest raise brings Canapi’s total assets under management to over $1.4B and will allow the Fund to continue to support the most innovative entrepreneurs and companies looking to create a sounder, more inclusive and equitable financial ecosystem.
Core to Canapi’s value proposition is the delivery of best-in-class financial and strategic returns to its Alliance. In Fund I, Canapi made 20 investments across key verticals, including fraud and identity, financial infrastructure, lending and credit, payments, and real estate technology. As part of these investments, Canapi has helped to facilitate nearly 100 partnerships between its LPs and portfolio companies – including such names as Alloy, Built, Thoropass, and Greenlight. Canapi estimates that this has delivered some $40 million in annualized revenue and supported the creation of nearly 1,500 new jobs in the fintech and financial services industry.






In Fund II, Canapi will maintain this considered strategy and support these key industries, while broadening its investment aperture to include additional opportunities and challenges facing the financial industry and other industries.
This includes the responsible use and governance of AI, cybersecurity, and the intersection of financial services and climate technology. To that end, Canapi has made a handful of investments out of Fund II in companies such as DynamoFL, Island, and Crux Climate.
Gene Ludwig
“Our venture capital model connects high-quality fintech companies to our extensive network of banks and strategic partners, creating strong symbiotic value in this important ecosystem,”
said Canapi Managing Partner, Gene Ludwig.
Canapi also seeks to back diverse leaders who reflect the increasingly heterogenous financial landscape; to that end, 61% of C-suite members or founders in Canapi’s portfolio are either minorities, women, or veterans.


This article first appeared on fintechnews.ch


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	]]></description><link>https://fintechnews.eu/fintech-venture-fund-canapi-raises-750m</link><guid>3473</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Fintech Venture Fund Canapi Raises $750m</dc:text></item><item><title>Robinhood Crypto Trading App Arrives in EU, Offers Bitcoin Rewards</title><description><![CDATA[
									
					
							
					Robinhood is set to make a significant stride in the European Union by launching the Robinhood Crypto app for all eligible customers in the region. The company claims that the app is the only custodial crypto platform in the EU where customers can earn a portion of their trading volume back every month in Bitcoin (BTC).
In an effort to drive new users, Robinhood Crypto is offering a unique opportunity for both new and existing customers. New customers are eligible to earn up to one Bitcoin when they open a Robinhood Crypto account and trade a minimum amount of €10 in crypto. Similarly, existing customers can earn up to one Bitcoin for every referred friend who successfully opens an account and trades a minimum €10 worth of crypto.
Johann Kerbrat
Johann Kerbrat, the General Manager of Robinhood Crypto, expressed excitement about the expansion:






“We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all. For this reason, we’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely.”
The app provides support for buying and selling over 25 different cryptocurrencies, boasting industry-leading safety and security measures. Robinhood Crypto also purports to be the most cost-effective crypto trading platform in the EU on average.
Further enhancing its appeal, the platform offers customers a monthly Bitcoin rebate based on their total trading volume. This rebate program is detailed in the help center, allowing customers to understand how it operates and the potential benefits they can receive.
To ensure transparency and informed decision-making, Robinhood Crypto displays the spread in the app, including the rebate received from sell and trade orders. This all-inclusive pricing model ensures that customers are aware of the full cost of their transactions, with no hidden fees.
For a limited period, eligible customers can also earn a reward of up to one Bitcoin when they sign up and trade a minimum amount of crypto. Additionally, they have the chance to earn up to one Bitcoin for the first 300 successful eligible referrals. Each customer receives a unique referral link to share with friends and family upon signing up.

According to a statement, Robinhood Crypto is designed to be a secure trading platform where users maintain ownership of their cryptocurrency. The platform allows users to buy and sell over 25 cryptocurrencies, track real-time prices, access charts, and fine-tune their trading strategies. Users can also explore various digital assets, create watchlists, and stay updated with the latest news directly in the app. Support for additional tokens, crypto transfers, crypto staking, and crypto learning rewards are all expected to launch in 2024.



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	]]></description><link>https://fintechnews.eu/robinhood-crypto-trading-app-arrives-in-eu-offers-bitcoin-rewards</link><guid>3471</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Robinhood Crypto Trading App Arrives in EU, Offers Bitcoin Rewards</dc:text></item><item><title>Portuguese Fintech Map and Report 2023</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 11, 2023
																				





					
					
							
					2023 has been a challenging year for the fintech sector, which has been marked by high inflation, political turmoil and a looming global recession. The prevailing environment of macroeconomic uncertainties has led investors to become more risk-averse. This shift in attitude has reduced their willingness to make substantial investments, subsequently putting a halt on the investing mania.
But despite the challenges, Portugal’s fintech ecosystem has shown resilience, with investment, talent, business and innovation continuing to speed up this year. This growth has been driven by significant developments in industries such as artificial intelligence (AI), blockchain, digital banking, cybersecurity and open banking, and should carry on in 2024 as consumer demand for more personalized, convenient, and secure services continues to increase and as corporates accelerate their digitalization efforts, a new report produced by KPMG, Visa and Morais Leitao says.
The Portugal Fintech Report 2023, released last week, offers a comprehensive overview of the Portuguese fintech landscape, presenting industry statistics and expert insights, and highlighting the top fintech startups in Portugal. The report also captures the trends of the 2023 fintech industry and provides valuable insights into the anticipated developments in 2024.






According to the report, the Portuguese fintech sector continued to see dynamism in 2023, with total funding to date surpassing EUR 1.1 billion. Much of that sum went to startups in the blockchain and cryptocurrency (34%), lending and credit (27%), insurtech (18%) and regtech and cybersecurity (18%) industry.
Deals secured this year mostly involve early-stage ventures at the Series A stage and under, showcasing the rather nascent fintech landscape. Lending and credit startups took the lion’s share, accounting for 59% of all fintech funding raised in 2023, followed by insurtech (30%), payments and money transfers (6%), regtech and cybersecurity (3%) and real estate (2%).
Notable deals include StudentFinance’s EUR 39 million Series A, Coverflex’s EUR 15 million Series A, HolyWally’s EUR 2.3 million round and Visor.ai’s EUR 2.3 million round. StudentFinance is a global career mobility fintech platform from Spain; Coverflex is a Portuguese compensation management platform that offers employee benefits, insurance, meal allowance, and discounts; HolyWally is a wallet-as-a-service platform headquartered in Singapore; and Visor.ai is a no-code conversational AI platform for customer service automation headquartered in Portugal.

Emerging trends
The report delves into key industries and trends emerging in the Portuguese market. The first industry outlined is cybersecurity, a space that’s been growing on the back of rising cyberattacks.
Research by American cybersecurity firm SentinelOne found that financial institutions were the second most impacted sector based on the number of reported data breaches last year with institutions in the US, Argentina, Brazil, and China being the most affected. As of December 2022, finance and insurance organizations globally experienced 566 breaches, leading to over 254 million leaked records.
Data breaches cost the finance sector the second highest costs amongst all others at US$5.9 million.
Ransomware attacks on financial services increased from 55% in 2022 to 64% in 2023, which is nearly double the 34% reported in 2021.
This trend is expected to continue, making prevention crucial. Additionally, EU legislation, such as DORA, will mandate organizations to implement proactive cybersecurity measures, starting in 2025, adding further urgency to preparations, the report says.
Another trend outlined in the Portugal Fintech Report 2023 is open insurance, a model that’s presenting significant benefits for both consumers and insurers. For consumers, open insurance allows for tailored solutions, enhanced accessibility and improved customer experience. For insurers, open insurance allows them to tap into broader markets by collaborating with various partners, efficiency gains, as well as innovation opportunities and new revenue streams.
The report also discusses the transformative impact of Web3 on traditional finance and its implications for Portugal, highlighting three main Web3 use cases explored by banks and fintech companies, namely custody, payments, and tokenization. Notable examples include Fidelity and BNY Mellon in digital asset custody, PayPal’s stablecoin initiative, and Visa’s pilot for settlement with USD Coin.
These organizations are adopting tokenization and blockchain with hopes of improved efficiency, reduced costs and enhanced security. They are also looking to capitalize on the transformative potential of these technologies in the financial sector and ride on the digital asset frenzy.
But despite the opportunities, the report notes that financial institutions are facing challenges in the adoption of Web3, including a lack of expertise, security and interoperability issues, and regulatory constraints.
To overcome these hurdles, it stresses the need for banks and fintech companies to actively engage with regulatory bodies and participate in industry experiments to shape standards and best practices. One example is the ongoing Project Guardian by the Monetary Authority of Singapore, involving financial institutions like HSBC, OCBC bank, and Standard Chartered, which seeks to explore Web3 concepts.
As various countries navigate their Web3 journeys, the report anticipates a pattern of regulators working with the industry to define rules and laws, providing clarity and legitimacy. It concludes by highlighting that banks and fintech companies actively learning and testing with Web3 technology will have a competitive advantage.
A rapidly-evolving regulatory landscape
The regulatory landscape for fintech in Portugal is undergoing a rapid transformation that’s marked by the introduction of groundbreaking legislation, such as the Portuguese startup law, as well as ongoing advancements in the European Union’s Payment Services framework.
The Portuguese startup law, published in May, 2023, introduces significant changes to the tax regime and includes a more favorable scheme for stock options for startup employees. The law aims to foster innovation, stimulate competition, and ensure the financial well-being of both consumers and businesses.
In parallel, at the European level, the European Commission has proposed a Payment Services package, featuring a proposal for a new Payment Services and Electronic Money Services Directive (PSD3) and a new Payment Services Regulation (PSR1). The proposal aims to amend and modernize the existing Payment Services Directive (PSD2) to address critical gaps, encourage innovation and respond to the rapidly changing landscape of electronic payments in the EU.
Next year, the Markets in Crypto Assets Regulation (MiCA) will take effect, making the European Union the first major jurisdiction in the world to introduce comprehensive, tailored rules for the cryptocurrency sector.
The regulation identifies and covers three types of crypto-assets, namely asset-referenced tokens, electronic money tokens, and other crypto-assets not covered by existing EU law. The legislation regulates issuance and trading of crypto-assets as well as the management of the underlying assets, where applicable.
By enhancing the protection of consumers and investors as well as financial stability, MiCA aims to promote innovation and the use of crypto-assets.

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	]]></description><link>https://fintechnews.eu/portuguese-fintech-map-and-report-2023</link><guid>3470</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Portuguese-Fintech-Industry-Sees-Further-Growth-Despite-Challenging-Macro-Environment--1440x564_c.jpeg</dc:content ><dc:text>Portuguese Fintech Map and Report 2023</dc:text></item><item><title>Largest VC Startup Growth Fund of Fund in Germany Ever: 1 Billion EUR Target</title><description><![CDATA[
									
					
							
					The VC fund of funds “Wachstumsfonds Deutschland” (Growth Fund Germany) has reached its EUR 1 billion target volume.
A key building block of the Future Fund of the German Federal Government has thus been completed. The Wachstumsfonds Deutschland one of the largest VC funds of funds ever to be set up in Europe.
It is funded primarily by private resources. Besides the Federal Government and KfW Capital as anchor investors, the fund has more than 20 major institutional investors including insurers, superannuation funds, foundations, asset managers and large family offices such as Allianz, BlackRock, Debeka, Generali Deutschland AG, Gothaer Versicherung, HUK-Coburg, the RAG-Stiftung, SIGNAL IDUNA, Stuttgarter Lebensversicherung a.G., Tecta, and Württembergische Lebensversicherung AG.






Together with other investors, the Wachstumsfonds invests in German and international VC funds with a focus on Europe and Germany. This will significantly improve access to urgently needed growth capital for start-ups and innovative technology firms while strengthening Europe and Germany as an innovation location. KfW Capital acts as both an investment intermediary and an investment advisor for the Wachstumsfonds Deutschland. The fund will be managed by the fund service platform Universal Investment Group.
What is special about the structure of the Wachstumsfonds Deutschland is that it is composed of two parallel investment vehicles, consider the different risk preferences of the individual groups of investors. The German Insurance Association (GDV) and its members played an important role in accompanying the structuring of the Wachstumsfonds.
Stefan Wintels
Stefan Wintels, Chief Executive Officer of KfW Group and Chair of the Supervisory Board of KfW Capital:
“By launching the ‘Wachstumsfonds Deutschland’ we have succeeded in setting up a marketable structure for mobilising private capital. This fund is a great example showing how the public sector and private investors can jointly bolster the VC ecosystem in Germany and Europe.”
The fund invests primarily in German and European VC funds with a focus on the later stage segment. The sectoral focus is on information and communication technology (ICT), life sciences as well as climate and food tech. As is customary, the Growth Fund Germany began its investment activity already after the first closing, which was in mid-December 2022. By mid-November 2023, it had already invested in 16 VC funds with a volume of more than EUR 260 million.
KfW Capital is the coordinator of the “Future Fund” (“Investment Fund for Technologies of the Future”). Under this fund, EUR 10 billion will be available for the quantitative expansion and qualitative enhancement of existing financing offers and the development of new instruments until 2030.
In addition, the ERP Special Fund is participating financially in multiple instruments of the Future Fund. Together with further private and public partners, the Future Fund aims to strengthen the VC ecosystem with its various modules on a sustainable basis.
KfW Capital is coordinating the individual building blocks of the Future Fund jointly with the Federal Ministry for Economic Affairs and Climate Action and the Federal Ministry of Finance as well as KfW, the European Investment Fund, the High-tech Start-up Fund (HTGF) and the Deep Tech and Climate Fund (DTCF). The Future Fund is currently composed of eight building blocks.


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	]]></description><link>https://fintechnews.eu/largest-vc-startup-growth-fund-of-fund-in-germany-ever-1-billion-eur-target</link><guid>3468</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Largest VC Startup Growth Fund of Fund in Germany Ever: 1 Billion EUR Target</dc:text></item><item><title>Germany’s Biggest Ever VC Startup Growth Fund of Fund Aims for 1 Billion EUR</title><description><![CDATA[
									
					
							
					The VC fund of funds “Wachstumsfonds Deutschland” (Growth Fund Germany) has reached its EUR 1 billion target volume.
A key building block of the Future Fund of the German Federal Government has thus been completed. The Wachstumsfonds Deutschland one of the largest VC funds of funds ever to be set up in Europe.
It is funded primarily by private resources. Besides the Federal Government and KfW Capital as anchor investors, the fund has more than 20 major institutional investors including insurers, superannuation funds, foundations, asset managers and large family offices such as Allianz, BlackRock, Debeka, Generali Deutschland AG, Gothaer Versicherung, HUK-Coburg, the RAG-Stiftung, SIGNAL IDUNA, Stuttgarter Lebensversicherung a.G., Tecta, and Württembergische Lebensversicherung AG.






Together with other investors, the Wachstumsfonds invests in German and international VC funds with a focus on Europe and Germany. This will significantly improve access to urgently needed growth capital for start-ups and innovative technology firms while strengthening Europe and Germany as an innovation location. KfW Capital acts as both an investment intermediary and an investment advisor for the Wachstumsfonds Deutschland. The fund will be managed by the fund service platform Universal Investment Group.
What is special about the structure of the Wachstumsfonds Deutschland is that it is composed of two parallel investment vehicles, consider the different risk preferences of the individual groups of investors. The German Insurance Association (GDV) and its members played an important role in accompanying the structuring of the Wachstumsfonds.
Stefan Wintels
Stefan Wintels, Chief Executive Officer of KfW Group and Chair of the Supervisory Board of KfW Capital:
“By launching the ‘Wachstumsfonds Deutschland’ we have succeeded in setting up a marketable structure for mobilising private capital. This fund is a great example showing how the public sector and private investors can jointly bolster the VC ecosystem in Germany and Europe.”
The fund invests primarily in German and European VC funds with a focus on the later stage segment. The sectoral focus is on information and communication technology (ICT), life sciences as well as climate and food tech. As is customary, the Growth Fund Germany began its investment activity already after the first closing, which was in mid-December 2022. By mid-November 2023, it had already invested in 16 VC funds with a volume of more than EUR 260 million.
KfW Capital is the coordinator of the “Future Fund” (“Investment Fund for Technologies of the Future”). Under this fund, EUR 10 billion will be available for the quantitative expansion and qualitative enhancement of existing financing offers and the development of new instruments until 2030.
In addition, the ERP Special Fund is participating financially in multiple instruments of the Future Fund. Together with further private and public partners, the Future Fund aims to strengthen the VC ecosystem with its various modules on a sustainable basis.
KfW Capital is coordinating the individual building blocks of the Future Fund jointly with the Federal Ministry for Economic Affairs and Climate Action and the Federal Ministry of Finance as well as KfW, the European Investment Fund, the High-tech Start-up Fund (HTGF) and the Deep Tech and Climate Fund (DTCF). The Future Fund is currently composed of eight building blocks.


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/germanys-biggest-ever-vc-startup-growth-fund-of-fund-aims-for-1-billion-eur</link><guid>3469</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Germany’s Biggest Ever VC Startup Growth Fund of Fund Aims for 1 Billion EUR</dc:text></item><item><title>German Online Trading Platform Trade Republic Receives Full Banking License From European Central Bank</title><description><![CDATA[
									
					
							
					Trade Republic has obtained a full banking license from the European Central Bank (ECB).
The additional license allows Europe’s largest savings platform to expand its product offering in the areas of investing and saving. Furthermore, corporate governance structures will be expanded forming an experienced audit committee.






Christian Hecker
“Receiving the full banking license opens up a new chapter for Trade Republic,”
says Christian Hecker, Co-founder of Trade Republic.
“In collaboration with our customers, we aim to continue growing strongly and establish ourselves as one of the leading financial institutions in Europe.”
Almost five years after entering the market, Trade Republic can now provide all essential banking services, and meets all requirements that are linked to a full banking license. By passing on interest rates of 4 percent, the opening of bond trading for retail investors and the new app, Trade Republic has developed its offering in 2023.
“The new products have enabled us to expand our market share in Europe in 2023. The focus remains unchanged on the easy, secure and affordable accumulation of wealth,”
adds Hecker.
As part of obtaining the full banking license, Trade Republic strengthens its corporate governance by establishing an experienced audit committee.
Trade Republic sees itself as the innovation powerhouse within the financial industry, pioneering affordable trading and establishing ETF savings plans as a new form of savings account.

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			&#13;
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		]]></description><link>https://fintechnews.eu/german-online-trading-platform-trade-republic-receives-full-banking-license-from-european-central-bank</link><guid>3467</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>German Online Trading Platform Trade Republic Receives Full Banking License From European Central Bank</dc:text></item><item><title>PPRO Expands Its Payment Method Portfolio with Twint</title><description><![CDATA[
									
					
							
					London based Digital Payment Solution provider PPRO has integrated Swiss payment method Twint onto its platform. Processing over 386 million transactions in 2022 alone, Twint is the preferred way to pay for more than half of the Swiss population and it has become an essential choice for online merchants looking to reach Swiss consumers.
According to PPRO research, the Swiss e-commerce market is currently valued at US$14 billion and is projected to reach US$22 billion by 2027. With over 5 million active users, Twint has gained significant traction in Switzerland, and now accounts for well over half of mobile payment transactions in the country*. By providing Swiss consumers with their payment method of choice, payment service providers and merchants can ensure a more seamless and efficient checkout experience, which positively impacts conversion rates.






Adrian Burgess
Adrian Burgess, Head of Payment Partnerships, EMEA at PPRO, said:
“We’re thrilled to be able to offer Twint as part of our portfolio. Payment service providers and merchants globally can now access this essential Swiss payment method in a market where mobile-first ecommerce is seeing impressive growth. Our partnership will unlock the full power of the US$14 billion Swiss e-commerce market for our customers, and open up the rest of Europe for Swiss consumers.”
Adrian Plattner
Adrian Plattner, Chief Sales Officer at Twint, said:
“Twint’s goal is to make our users’ lives easier on a daily basis. Our collaboration with PPRO as a connecting platform will enable many international merchants from a diverse range of industries to offer Swiss customers their favorite mobile payment method at checkout. This means that even more consumers and merchants benefit from easy, fast and secure payments via Twintf.”


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			&#13;
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		]]></description><link>https://fintechnews.eu/ppro-expands-its-payment-method-portfolio-with-twint</link><guid>3466</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>PPRO Expands Its Payment Method Portfolio with Twint</dc:text></item><item><title>Switzerland Sees Slow Uptake of Open Banking</title><description><![CDATA[
									
					
							
					Despite ranking high in digital evolution, Switzerland lags behind some of its European counterparts in digital trust, behavior and demand. These attributes, coupled with consumers’ stronger affinity for cash and their loyalty to the traditional banking sector, have led the country to see slower open banking momentum compared with countries such as the Netherlands, France and Spain, a new report by Mastercard says.
The report, titled “Four European takes on open banking”, shares findings of Mastercard surveys, supplemented with other sources, to shed light on the development of open banking in Switzerland, the Netherlands, France and Spain and compare these countries between one another.
According to the document, Switzerland ranks high in the 2020 Digital Intelligence Index (DII), a rating that orders each country based on their state of digitalization, ranking sixth in the state of digital evolution, second in digital trust environment, eighth in attitudes to digital trust, and fifth in digital trust experiences. These are higher than the Netherlands’, France’s and Spain’s rankings.






Yet, in the user behavior category, Switzerland ranks last out of the 42 nations studied, indicating a relatively low level of trust and online engagement from consumers, a discrepancy which can be partly explain why open banking momentum in Switzerland currently appears slower than France and Spain, the report says.
A cash-reliant economy and a well-entrenched banking sector
Another key trait of Swiss consumers that may contribute to the slow uptake of open banking is their affinity for cash. Data from the Swiss National Bank (SNB) show that cash accounted for 43% of all transactions in 2020, equivalent roughly to the combined share of credit and debit cards. The figure is in sharp contrast to nations in the Nordic region where almost a third of consumers indicated this year never paying with cash in physical sales locations, findings from a new study conducted by Nets, part of Nexi Group, reveal.
Shares in % by number of transactions, Source: Swiss National Bank, Nov 2022
Giving these circumstances, the Mastercard report notes that it isn’t surprising that only 59% of Swiss consumers said they would like to make a payment directly from their bank account without having to input credentials, a figure that pales in comparison to 61%, 65% and 74% in France, the Netherlands and Spain, respectively, and which reflects Swiss consumers’ relatively low interest in new digital experiences.
In addition to a preference cash, the report notes that payments cards are firmly established in Switzerland, a characteristic that’s exhibited in the fact that Swiss consumers own 3 payment cards on average, higher than the European Union (EU) average of 2.4, Spain’s average of 2.7, the Netherlands’ average of 2.5 and France’s average of 1.8.
Cards are also the preferred payment method for e-commerce transactions, accounting for 42% of the total value of e-commerce transactions in 2022, worth CHF 9 billion, the report says. Credit transfers follow with 16%, which is more than the 11.4% contributed by debit cards, alone. Twint, an account-to-account payments provider owned by a consortium of Swiss banks, takes 7.4%.
The report also notes that close private relationships with banks and the sector’s strong foothold in the country could make Swiss consumers less willing to try new solutions and share their data.
A 2021 research conducted by Mastercard found that three quarters of consumers were satisfied with their primary bank. 48% said they had had a banking relationship since childhood, 56% had never changed their primary bank, and 94% said they did not plan to change banks.
Still, the study found that, despite strong customer loyalty to their primary bank, a significant proportion of respondents (49%) said that they would be willingness to change their primary bank or add a new banking relationship to benefit from at least one open banking-enabled service.
A market-led approach
Unlike in other countries, such as the UK or EU member states, there is currently no legal obligation in Switzerland for financial institutions to make financial data available to third-party providers at their clients’ request. This has prompted industry stakeholders to come together and initiate standardization efforts.
The Mastercard report notes that, today, most demand for open banking in Switzerland currently comes from corporate and wealth clients, a demand which the OpenWealth Association is attempting to address by developing open API standards that cover wealth management-related services.
These standards are meant to complement the Common API Specification for Finance being developed by industry trade group Swiss Fintech Innovations (SFTI). The standards currently cover APIs related to account information, payment initiation, loans and wealth management (the latter one in collaboration with the OpenWealth Association), and aim for international compatibility,
The Common API initiative overlaps with the Swiss NextGen API, an initiative by openbankingproject.ch that seeks to develop APIs based on the PSD2 standards with minimal deviations and which aims to achieve international interoperability for API users.
But despite limited involvement from Swiss regulators, the Federal Council is closely watching developments, instructing in December 2022 the Federal Department of Finance (FDF) to submit measures to them by June 2024 if the financial sector does not sufficiently commit to opening up their interfaces.
 
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	]]></description><link>https://fintechnews.eu/switzerland-sees-slow-uptake-of-open-banking</link><guid>3464</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Switzerland Sees Slow Uptake of Open Banking</dc:text></item><item><title>6 Prominent AI Investors in Switzerland to Know</title><description><![CDATA[
									
					
							
					Venture capital (VC) into Europe’s tech industry dropped by half this year, plunging from US$82 billion in 2022 to an estimated US$45 billion this year, a new report by European VC firm Atomico says. But in this gloomy VC landscape, artificial intelligence (AI) is emerging as a standout category, seeing continued traction this year.
Atomino’s “State of European Tech 23” report, released on November 28, reveals that investment into AI in Europe is defying the broader downturn, with 2023 total investment on track to come close to, or perhaps even surpass, last year’s record-breaking amount of US$8.7 billion.
Findings from the study show that AI is the biggest pull for fundraising rounds amounting to US$100 million or more, with 11 AI companies bagging megarounds so far this year. The sector is also the buzziest space for investors, attracting 11% of the total investment in 2023.






Total capital invested (US$B) in AI:ML in Europe and the US, 2014-2023, Source: State of European Tech 23, Atomico, Nov 2023
In Switzerland, the VC downturn is having a much more pronounced impact on AI funding. Findings from startup data Zefyron reveal that Swiss AI companies have so far secured a total of CHF 129 million in funding this year, down 77% from 2022’s CHF 561 million. In total, 2023 has seen the closing of 56 AI deals, which is half the number recorded in 2022 of 110.
AI funding in Switzerland, Source: Zefyron
Zefyron data show that despite the ongoing market downturn, Switzerland is home to a robust investment landscape for AI, with around 75 investment and VC firms actively investing in AI across diverse sectors such as fintech, cleantech, deeptech, biotechnology, and more. These investors have totaled approximately 3,500 investments to date, and have since 2017 accelerated their pace of investment.
As AI continues to pick up steam in Switzerland, we look today at some of the country’s most prominent investors. For this list, we’ve focused on private investors, using data from startup data platforms Dealroom, Shizune and Zefyron to shortlist six of Switzerland’s most prolific AI backers.
SICTIC

Founded in 2014 and based in Zurich, the Investor community of the Swiss ICT Investor Club (SICTIC) is a non-profit association that connects investors to innovative seed and early-stage tech startups. The organization organizes the deal flow and the matchmaking of startups and investors online and at pitching events.
SICTIC primarily focuses on information and communications technologies (ICT) and fintech startups, but also targets verticals including healthtech, medtech, foodtech, and cleantech.
Since 2018, SICTIC claims it has been the largest and most active business angel network in Switzerland, and has backed the likes of TradePlus24, a small and medium-sized enterprise (SME) alternative financing platform, Grape Insurance, a digital employee insurance startup, and Calingo, a digital insurance platform, data from Dealroom show.
According to Shizune, SICTIC has been the most active AI investors in Switzerland, having made 20 AI investments so far including Acodis, Advaisor, Agrinorm and SquareFactory.
Verve Ventures

Founded in 2010, Verve Ventures is a network and technology-driven VC firm headquartered in Zurich. The firm invests in startups across Europe from seed stage onward, in software, hardware and healthcare, and provides its pan-European network of selected private and institutional investors access to top-tier investment opportunities.
Verve Ventures invests from EUR 500,000 to EUR 3 million from seed to Series B and beyond. The firm makes around 20-30 new investments per year, making it one of Europe’s most active startup investors.
Verve Ventures claims it has backed over 164 science and technology startups across Europe, investing a total of EUR 180 million in ventures such as Wefox, one of the largest insurtech companies in Europe, NetGuardians, a fraud prevention platform from Switzerland, and Oper, a Swiss digital mortgage platform.
According to Shizure, Verve Ventures is the third most active AI investor in Switzerland, having made 16 investments so far. AI startups in its portfolio include Axelera AI, Cognism, and Ecorobotix.
Swisscom Ventures

Founded in 2007, Swisscom Ventures is the VC arm of Swisscom, a leading telecom and IT provider in Switzerland. With over US$650 million assets under management (AUM) and advisory, of which two thirds is financed by 20 institutional investors and one third by Swisscom, the firm invests during the full life cycle of high potential startups. Its minority investments typically range from US$1 million per company at early stage up to US$20 million in growth rounds.
As a strategic investor, Swisscom Ventures offers entrepreneurs access to a broad range of portfolio services in addition to financial support. Those comprise the use of Swisscom’s technical infrastructure but also access to market channels and key experts in the lines of business.
Swisscom Ventures has invested in over 80 technology companies from its offices in Switzerland (Zurich, Bern, Lausanne) and the USA (Silicon Valley), the firm claims. Its portfolio comprises one fintech startup – Yokoy, a Swiss fintech startup that leverages AI to fully automate all expense- and company credit card processes -, and four AI startups, namely Inpher, Ecorobotix, Unsupervised and Deepomatic. It’s one of the most active AI investor in Switzerland, according to both Shizure and Zefyron.
Tenity

Founded in 2015 as F10, Tenity is a startup incubator and accelerator with an integrated investment arm that backs innovative technology companies in the financial and insurance industries. Tenity provides incubation and acceleration programs helping startups to connecting with corporates, experts, mentors, and investors for early stage venture and late stage venture investing, and collaboration opportunities. Its investment strategy focuses on early-stage companies and seeks broad geographic diversification.
As of July 2023, Tenity had accepted over 280 companies into its programs who had raised more than US$370 million combined. Companies it has backed include Swiss AI startups DemaTrading.ai, Drivata, Luumeos, Swiset and Splint Invest.
Tenity, which is one of the most active AI investors in Switzerland, according to Zefyron, closed the Tenity Incubation Fund I in March 2023, with investments from SIX Group, UBS’s strategic venture and innovation unit, UBS Next, Julius Baer, and Generali’s House of InsurTech Switzerland. The new fund will seek to invest in up to 400 new fintech and insurtech companies across Switzerland, Western Europe and Asia-Pacific.
Redalpine

Founded in 2006, Redalpine is a seed and early-stage VC investor that backs in disruptive technologies with a focus on highly scalable ICT and healthtech models. The firm brings together financial investment, operational expertise, and a vast international network to help ambitious entrepreneurs transform their vision into a reality.
With over EUR 1 billion in AUM and a disciplined, sector-agnostic investment strategy, Redalpine has backed some of Europe’s most disruptive companies, including N26, Taxfix, Inkitt, 9fin, Carvolution, Zenjob, vivenu, and Umiami.
Redalpine has over 85 companies in its portfolio and invests Europe-wide from its offices in Zurich and Berlin. Dealroom data show that the firm currently has 26 Swiss companies in its portfolio, including AI startups Lakera AI, a security platform, and Daedalean, a startup building AI applications for autonomous flight. According to Zefyron, Redalpine is one of the top ten AI investors in Switzerland.
B2venture

B2venture, formerly known as Btov Partners, is an early-stage European VC firm. Founded in 2020, the firm makes investments through its dedicated funds and stage-agnostic investments through its direct investment track. It deploys over EUR 100 million per year across Europe, leveraging the power of its multi-generational investor community.
B2venture currently manages roughly EUR 510 million in institutional funds, partner funds and direct investments of private investors. With teams in St. Gallen, Zurich, Berlin, Munich and Luxembourg, the firm works with seasoned entrepreneurs and business angels to back the most promising startups across Europe.
B2venture has backed companies such as 1KOMMA5°, DeepL, Facebook, SumUp and Raisin. The firm currently counts 17 AI startups in its portfolio including Swiss companies Immoledo, DeepCode, RetinAI, LatticeFlow and Calvin Risk. According to Shizune, B2venture is the tenth most active AI investor in Switzerland, having participated in six rounds.

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	]]></description><link>https://fintechnews.eu/6-prominent-ai-investors-in-switzerland-to-know</link><guid>3465</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>6 Prominent AI Investors in Switzerland to Know</dc:text></item><item><title>Scalable Capital Raises €60M Growth Financing</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 8, 2023
																				





					
					
							
					Scalable Capital, a leading digital investment platform based in Germany, announced the closing of a 60 million euro equity financing.
This extension of the series E round was led by European venture capital firm Balderton Capital with participation from HV Capital’s new growth fund and existing investors, underscoring their strong support for Scalable Capital’s mission to empower everyone to become an investor.
The funding will be used to deliver further growth and to capitalise on Scalable Capital’s position as a leading provider of easy and cost effective investing solutions for retail clients.






Erik Podzuweit
“The funding is a testament to the strength investors see in Scalable Capital’s business. The scale up potential of a holistic pan-European investment platform that empowers everyone to become an investor is huge. With the fresh money, we will focus on further developing our product and striving for sustainable growth.”
says Erik Podzuweit, Co-Founder and Co-CEO of Scalable Capital.
Alongside Balderton, Scalable Capital received strong backing from HV Capital’s new ‘Fund IX Growth’, which made its first cross-fund investment in Germany.
Since 2014, Scalable Capital has provided retail investors with easy and affordable access to investing. It started with a digital wealth management service and expanded in 2020 into a full service brokerage offering.
Over the past two years Scalable Capital expanded its broker into Austria, France, Italy, Spain and the Netherlands. Clients can invest in ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, with over two thirds of the money invested in ETFs.

Featured image credit: Erik Podzuweit, Co-Founder and Co-CEO of Scalable Capital


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	]]></description><link>https://fintechnews.eu/scalable-capital-raises-60m-growth-financing</link><guid>3462</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Scalable-Capital-Receives-Backing-From-Balderton-Capital-And-Raises-E60M-Growth-Financing-1440x564_c.jpg</dc:content ><dc:text>Scalable Capital Raises €60M Growth Financing</dc:text></item><item><title>TX Ventures Leads USD 7.5M Seed Round of Triple</title><description><![CDATA[
									
					
							
					Triple, a London based provider of transaction data enrichment for financial institutions, has successfully raised a $7.5M Seed Round led by TX Ventures. The funds will allow Triple to further accelerate its growth and to continue bringing more AI solutions to the financial sector.
Triple’s founders, Mario Navarro and Ibai Iturricha, started working on an automated rewards marketplace on top of transaction data. Although Triple worked directly with banks, the data received was very messy and they had to build an enrichment engine to map descriptions to specific merchant counterparties.
Mario Navarro
“After meeting with many banks and fintechs, it was clear that this problem was extended within the financial industry. So we started focusing on solving this and helping banks get access to better data, prioritising accuracy and security.”
explains Triple’s CEO Mario Navarro.






“Enriched transaction data allows banks to decrease OPEX costs by substantially reducing customer support calls and chargebacks, and improving customer engagement across their digital channels.”
While the problem of unclear transaction data has been known for a long time, recent developments in AI allow fintechs like Triple to solve this at scale in a way which wasn’t possible before.
Jens Schleuniger
“We realised that accurate transaction data enrichment is an important albeit complex problem to solve after talking to a number of financial institutions. Apart from the strong founding team we were particularly impressed by the quality and accuracy of Triple’s API-first solution. The team has set a new benchmark and we are all very excited about the use cases that are now possible on top of accurate enriched transaction data”
said Jens Schleuniger, Managing Partner at TX Ventures.
Triple already processes billions of transactions and has grown to become a leading API for transaction enrichment, working with more than 20 banks and fintechs globally. Triple’s main market is EMEA, but it also has clients in APAC and the Americas. The company recently completed a program with FIS, working on collaborating with banks across the US.
Other participants in the round include Form Ventures, Portfolio Ventures, Neosfer and Core Angels Barcelona as well as several successful entrepreneurs such as Paul Forster (Indeed) and Pedro Tortosa (Devo).
This $7.5M Seed Round brings the total amount raised to $10M, having previously raised $2.5M from investors such as PlugandPlay and Barlon Capital.


Featured image credit: Triple founders Mario Navarro and Ibai Iturricha


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	]]></description><link>https://fintechnews.eu/tx-ventures-leads-usd-75m-seed-round-of-triple</link><guid>3463</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>TX Ventures Leads USD 7.5M Seed Round of Triple</dc:text></item><item><title>Top 6 Fintech Trends to Keep an Eye on in 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 7, 2023
																				





					
					
							
					The fintech landscape is poised to undergo significant transformations in 2024, driven by cutting-edge advancements and evolving consumer needs.
As technology rapidly advances and customer behaviors shift, the financial sector is set to experience unprecedented changes that redefine traditional banking and payment systems — so what are the top fintech trends in 2024 that we can expect?
Top 6 Fintech Trends Anticipated for 2024
1. Harnessing AI and ML: A New Frontier in Fintech
AI and ML are transforming the fintech industry by enhancing efficiency and preventing crime.
These emerging technologies are being used to streamline banking processes, improve customer experience, enhance decision-making, and detect fraud. AI chatbots and virtual assistants also play a crucial role in customer service.
2. Stablecoins as the Future of Digital Money
These digital currencies can offer several advantages to global digital businesses that find traditional banks to be too slow, too costly, and too cumbersome.
For one, stablecoins provide a stable transaction medium to businesses in regions where traditional banks are not as competitive, available, or reliable.
Stablecoins also enable faster, cheaper, and more transparent transactions, as they use blockchain technology to eliminate intermediaries, lower fees, and increase traceability.
3. Growth of Niche Neobanks
Neobanks are poised to disrupt the traditional banking sector, as they offer a compelling alternative for online businesses that require their banking partners to provide all services digitally and instantly through up-to-date technical integrations and protocols.
4. The Evolution of Embedded Finance
Financial services integration into non-financial products and platforms is transforming the payment landscape, as it offers convenience, affordability, and a range of options.
Although still in early development, embedded finance is rapidly growing, giving users more financial control and diminishing their reliance on traditional banks.
5. Faster Global Payments: The Shift to Instant Transfers
More and more national payment schemes are rolling out instant payment systems. Some of these systems are also starting to interconnect and offer international instant cross-border payments.
This trend is anticipated to lower expenses and improve the overall efficiency of the global financial system. As more banks participate in instant payment networks, both consumers and businesses will enjoy a more efficient and seamless payment system.
6. Global Payments: Advancing with End-to-End Tracking
SWIFT GPI has been gradually expanding worldwide. Similar to tracking packages, end users can track cross-wire payments end to end globally, enhancing transparency and efficiency in the financial system.
Klarpay’s Role in the Evolving Fintech Landscape
﻿
In 2024, fintech trends will continue to transform how we handle money, offering faster and more convenient transactions that cater to the evolving needs of customers in a digital and connected world. To succeed in this evolving digital banking landscape, financial institutions need to keep pace with these changes.
Committed to innovation, Swiss fintech company Klarpay is stepping in to provide innovative alternatives to traditional services, effectively bridging the gap between online businesses and accessible transactional banking.
Unrestricted by rigid legacy systems, Klarpay aims to be an all-in-one solution for digital businesses seeking borderless, scalable, and omnichannel payment and banking services.
Klarpay offers online businesses fully embedded payment solutions with simple API integration, Swift, SEPA, local ACH payments, corporate Visa cards, currency exchange, fully digital client onboarding and IBAN accounts in over 17 currencies, as well as hassle-free transfers and payouts.
As online payments become more common and diverse, digital businesses require smart and flexible solutions that can adapt to the changing needs and preferences of their customers, as well as regulatory and technological challenges.
Get in touch with Klarpay here. 





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	]]></description><link>https://fintechnews.eu/top-6-fintech-trends-to-keep-an-eye-on-in-2024</link><guid>3460</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Top-6-Fintech-Trends-to-Keep-an-Eye-on-in-2024--1440x564_c.jpg</dc:content ><dc:text>Top 6 Fintech Trends to Keep an Eye on in 2024</dc:text></item><item><title>Swiss AI Initiative: Universities Work to Position Switzerland as Trustworthy AI Hub</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 7, 2023
																				





					
					
							
					ETH Zurich and EPFL are launching the “Swiss AI Initiative”, whose purpose is to position Switzerland as a leading global hub for the development and implementation of transparent and reliable artificial intelligence (AI).
The new Alps supercomputer based at the Swiss National Supercomputing Centre (CSCS) provides the supporting world-​class infrastructure.
In spring 2024 the new Alps supercomputer goes live at the Swiss National Supercomputing Centre (CSCS) of ETH Zurich in Lugano. Boasting the next generation of more than 10,000 graphics processing units (GPUs), Alps is one of the world’s most powerful computers for applications in the field of artificial intelligence (AI). This new computer gives Swiss scientists access to the sort of computing power only available to the world’s biggest tech companies.






The AI-​supported photomontage shows the “Rolex Learning Center” of EPFL and the main building of ETH Zurich. (Image: ETH Zurich)
Technological edge to protect Switzerland’s digital sovereignty
The new supercomputer therefore gives Switzerland a significant competitive advantage over international rivals. This is because the infrastructure for supercomputing is in short supply worldwide due to the rapid development of generative AI and – where available – is mostly owned by a handful of large multinationals.
Christian Wolfrum
“Through this joint initiative we want to exploit our advantage as a location and make Switzerland’s expertise in artificial intelligence transferrable to society as a whole,”
explains Christan Wolfrum, ETH Vice President for Research.
“Science must assume a pioneering role in such a forward-​looking field, rather than leaving it to a few multinational corporations. Only in this way can we guarantee independent research and Switzerland’s digital sovereignty.”
Transparency and Open Source
The aim of the initiative is to develop and train new large language models (LLM). These must be transparent, deliver comprehensible results and ensure legal, ethical and scientific criteria are met. “Unlike the large language models that are usually available in the public domain today, the Swiss AI Initiative strongly emphasized transparency and Open Source. Everyone must be able to understand how the models were trained, the sort of data used, and how results are recovered,” stresses Jan Hesthaven, Provost and Vice President for Academic Affairs at EPFL.
To develop such models, the Swiss AI Initiative will use ten million GPU hours on the new Alps computer over the next 12 months, equivalent to the computing power of a single GPU running at full load for over 1,100 years. Switzerland is therefore the first country in the world to operate a research infrastructure on the next-​generation NVIDIA Grace Hopper Superchip.
Swiss AI Initiative already up and running
This additional computing capacity will be used to develop new, industry-​specific AI base models for use in different areas such as robotics, medicine, climate sciences or diagnostics. In addition, the Initiative will also explore fundamental questions in the development and use of LLM models, such as: What form will future interaction between humans and AI take? What is the appropriate ethical framework? How do we manage security and data privacy? What new approaches can be used to scale up models and make them more energy efficient?
ETH Zurich and EPFL operate their own AI centres that will work closely together in future, along with the Swiss Data Science Center, to conduct world-​class interdisciplinary AI research. This initiative aims to pool the specialist knowledge of around a dozen Swiss universities, technical universities and research institutes. Over the past few months over 75 professors from all over Switzerland have signed up to the initiative. In addition, other international researchers have also been invited to work together on the development of multilingual, cross-​border open source LLMs. ETH Zurich and EPFL are already members of ELLIS, the European network of AI excellence, which incudes some 40 AI hot spots in Europe.


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	]]></description><link>https://fintechnews.eu/swiss-ai-initiative-universities-work-to-position-switzerland-as-trustworthy-ai-hub</link><guid>3461</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Joint-Initiative-for-Trustworthy-AI-1440x564_c.jpg</dc:content ><dc:text>Swiss AI Initiative: Universities Work to Position Switzerland as Trustworthy AI Hub</dc:text></item><item><title>Hypothekarbank Lenzburg lanciert eigene Marke für den Bereich Banking-as-a-Service</title><description><![CDATA[
									
					
							
					Die Hypothekarbank Lenzburg AG lanciert eine Marke für den Bereich Banking-as-a-Service
Die Marke HBL Solutions ist gemäss Hypi ein strategisches Bekenntnis für die Aktivitäten in den Wachstumsbereichen Banking-as-a-Service und Embedded Finance. Insbesondere werden damit der Vertrieb und das Partnermanagement in diesen Bereichen gestärkt.






Marianne Wildi
«Eingebettete Finanzdienstleistungen entsprechen einem Bedürfnis der Zeit»,
sagt Bankchefin Marianne Wildi.
Im Rahmen der strategischen Transformation richtet die Hypothekarbank Lenzburg ihr Geschäftsmodell stärker auf den Geschäftsbereich Banking-as-a-Service aus. Der Verwaltungsrat und die Geschäftsleitung der Bank haben entschieden, die entsprechenden Vertriebs- und Managementaktivitäten unter der eigenständigen Marke HBL Solutions zu bündeln. Das soll die strategische Bedeutung des Geschäfts unterstreichen und den Banking-as-a-Service-Bereich klarer von den Tätigkeiten im klassischen Banking unterscheiden.
Von Coop Finance zu Zinsli und Evorest
Wachstumspotenziale sieht die Bank nicht zuletzt im Bereich eingebetteter Finanzdienstleistungen, also dort, wo Nicht-Banken Finanzprodukte in ihre Wertschöpfungsprozesse integrieren. Die Unternehmen können so ihrer Kundschaft Bezahlkarten im eigenen Design, Bankkonti, Wertschriftendepots oder andere Finanzdienstleistungen anbieten. Einen Meilenstein hat die Hypothekarbank Lenzburg in diesem Geschäft vor kurzem mit dem Schweizer Detailhändler Coop für das Produkt Coop Finance+ erreicht.
Weitere Projekte realisiert HBL Solutions derzeit mit den Plattformen Zinsli und Evorest. Evorest wird über die Open-API-Technologie von Finstar eine Anlagelösung für das populäre Mieterkautionskonto anbieten, mit der Mieterinnen und Mieter an der Entwicklung auf den Finanzmärkten partizipieren können. «Die Zusammenarbeit mit HBL Solutions ermöglicht uns ein neues Geschäftsmodell an den Schweizer Markt zu bringen und die Mietkaution mit einem erfahrenen Partner erstmals investierbar zu machen», sagt Gianluca Cottiati, Co-Founder &amp; COO von Evorest.
Zinsli entwickelt im Bereich Mietkautionen eine Online-Plattform, die verschiedene Angebote von mehreren Finanz- und Versicherungsunternehmen umfasst. Die Hypothekarbank Lenzburg ist aktuell mit ihrem digitalen Mietkautionskonto eingebunden. Ein Kautionsdepot mit Wertschriftenlösung ist in Vorbereitung.
Für die Abwicklung der von HBL Solutions vertriebenen Banking-Services ist die Hypothekarbank Lenzburg verantwortlich. Technisch erfolgt die Verarbeitung über die Open-Banking-Plattform Finstar.


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	]]></description><link>https://fintechnews.eu/hypothekarbank-lenzburg-lanciert-eigene-marke-fur-den-bereich-banking-as-a-service</link><guid>3459</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Hypothekarbank Lenzburg lanciert eigene Marke für den Bereich Banking-as-a-Service</dc:text></item><item><title>6 Green Fintech Startups from the DACH Region to Follow in 2024</title><description><![CDATA[
									
					
							
					In 2023, European green fintech startups continued to see traction from investors, securing about EUR 144 million across 24 deals in the first four months of the year, a Sifted report claims. The figure suggests a slowdown in funding activity, similar to what is being observed in the fintech sector as a whole, but comes after the subsector posted a record year 2022 despite an overall dip in venture capital investment.
Continued interest in green fintech comes amid growing focus on sustainability, increasing recognition of climate-related risks, and the implementation of policies and regulations that incentivize or mandate sustainable practices.
As green fintech continues to pick up steam in Europe, we look today at some of the most promising and fastest-growing startups in the sector. For this list, we’ve focused on ventures headquartered in Germany, Switzerland and Austria, also referred to as the DACH region, concentrating on those that have either secured considerable rounds of funding, won notable prizes, or achieved strong traction over the past year, making them prone to witnessing further growth and development in 2024.






Plan A (Germany)

Founded in 2017 and headquartered in Berlin, Plan A is a corporate carbon accounting, decarbonization and ESG reporting software provider. The company has developed a software-as-a-service (SaaS) platform that allows businesses to self-manage their entire net-zero journey – from data collection over emissions calculation, target setting, and decarbonization planning to non-financial reporting – in one central hub.
By automatically mapping all necessary data across Scopes 1, 2, and 3 and merging them with national emission factors and datasets, the Plan A Sustainability Platform is able to provide granular emissions profiles and ESG insights in dynamic dashboard overviews. Based on the indicators with the most significant reduction potential, the software empowers companies to set science-based net-zero targets and achieve them through 1,000+ decarbonization solutions and activities, best practices, as well as a network of service providers and sustainability professionals. At the end of this holistic process, the platform produces regulation-proof ESG reporting.
Plan A claims more than 1,500 clients including high-profile brands and companies such as Chloé, BMW, Deutsche Bank, Visa, GANNI, N26, HomeToGo, trivago, Personio, Sorare, KFC, and DFB. The company says that it is experiencing rapid growth, witnessing a 600% year-over-year (YoY) increase in software revenues in December 2022.
In September 2023, Plan A raised US$27 million in a round led by Lightspeed Venture Partners. The company said it would use the proceeds to double its headcount to 240+ employees, expand its market penetration in Europe with a strong focus on France, the UK, and Scandinavia, as well as deepen its platform capabilities.
IntegrityNext (Germany)

Founded in 2016 and headquartered in Munich, IntegrityNext provides a software-as-a-service (SaaS) solution that allows companies to assess and monitor their supply chain for sustainability risk and compliance.
The cloud-based platform enables businesses to check their supplier base against sustainability-related regulations, standards, and voluntary commitments, and helps them identify and manage ESG risks along the value chain, reducing reputational and financial risks and improving sustainability performance.
IntegrityNext claims more than 200 customers and says it monitors almost one million suppliers, making it one of the leading ESG certification software solutions in Europe. Its customers include Siemens Gamesa, Infineon, SwissRe, Generali, Henkel, OSRAM, RWE, ThyssenKrupp, Hilti and Grohe. IntegrityNext also partners and integrates with leading enterprise software tools, including Celonis, Coupa and SAP, allowing it to offer supply chain assessments across numerous major industries.
IntegrityNext secured an equity round of EUR 100 million in March 2023, which it said it would use to continue building the breadth of the platform as well as the company’s go-to-market position.
Atlas Metrics (Germany)

Founded in 2021 and headquartered in Berlin, Atlas Metrics provides a comprehensive ESG accounting platform that caters to the needs of both companies and investors. The company’s platform allows organizations to effortlessly report across multiple standards and meet diverse ESG requirements with a single entry.
The platform is designed to simplify ESG compliance by consistently generating fully compliant outputs aligned with the world’s leading impact standards, keeping up with evolving guidelines and regulations. Additionally, it enables safe data sharing with various stakeholders, allowing data inputted once to be efficiently shared with portfolio companies, investors, or suppliers.
Organizations can also showcase their ESG performance and achievements through a customizable, secure Microsite, providing them with the flexibility to tailor, manage, and present their data publicly or selectively.
Atlas Metrics secured a EUR 5.2 million seed funding round in March 2023 to expand its all-in-one platform for ESG data management. The company’s next steps are focused on developing new high-impact features and helping a wider range of organizations meet their most pressing sustainability requirements. The company’s solution is also undergoing an accreditation process with Big 4 auditing firms.
Most recently, Atlas Metrics was named one of the top 100 ESG fintech companies in the world by ESGFintech100, an annual selection of the most innovative and fastest-growing ESG companies serving the financial services industry.
Tanso Technologies (Germany)

Founded in 2021 and headquartered in Munich, Tanso Technologies is a software company that offers a carbon intelligence suite to industrial companies, helping businesses gather, manage and report carbon footprint emissions on Scope 1–3 on both corporate and product levels and in alignment with the leading standards. The suite currently comprises Corporate Carbon Footprint (CCF), Product Carbon Footprint (PCF) and ESG management for ESRS compliance.
Tanso Technologies co-founder and CPO Gyri Reiersen told TechCrunch in an interview in April 2023 that the company’s customers numbered in double digits, stressing that it was picking up customers around the German-speaking DACH region most particularly. These companies mainly represent industries such as automotive, machine manufacturing and steel production, she said.
Tanso Technologies has raised about US$9 million in early stage growth funding over the past three year, including a a EUR 4 million seed raise and a EUR 2.5 million innovation grant from the European Union (EU) both secured in 2023.
The startup said it would use the proceeds to move into the next phase of product development, focusing on making its software more modular to provide targeted support for both CCF and PCF calculation and optimization, as well as mesh with more manufacturers’ needs.
The Climate Choice (Germany)

Founded in 2020 and headquartered in Berlin, the Climate Choice is the supplier of a climate intelligence and engagement platform. The company offers software designed to assess an organization’s readiness to adopt climate-friendly practices and provides guidance on steps needed to move closer to climate neutrality.
The Climate Intelligence Platform, an artificial intelligence (AI)-powered decarbonization platform, allows companies to access and acquire audit-ready company risk and emission data, supporting suppliers in their decarbonization journey. The platform’s data engine provides climate performance data from the user’s company, business partners, and suppliers, allowing the implementation of tailor-made decarbonization measures with validated partners, as well as effective purchasing decisions based on climate-relevant data.
The company’s platform is currently in use by several early customers, including O2 Telefonica and HiPP. The company says it is actively monitoring thousands of suppliers.
The Climate Choice secured in March 2023 a US$2 million pre-Seed funding round which the company said it would use for further development and expansion of its Climate Intelligence Platform.
Frigg.eco (Switzerland)

Founded in 2022 and headquartered in Zug, Frigg.eco is the developer of business-to-business (B2B) software for the financing of renewable energy projects through tokenized green loans. The platform utilizes AI and distributed ledger technology (DLT) to streamline the creation of tokenized green bonds backed by sustainable infrastructure projects and improve transparency.
The vision of Frigg.eco is for its tokenization workflow to become an international standard for onboarding sustainable projects to the blockchain. The transparency investors gain into their individual investments is a crucial aspect and differentiator. This includes all of the financial details for each sustainable project, and additional metrics that are not normally accessible such as the amount of electricity produced and carbon emissions avoided. All metrics are provisioned real-time. Developers of sustainable projects also benefit from lower costs than traditional finance models, as various intermediaries are removed from the process.
Frigg.eco launched its first digital green bond in October 2022 with Malthe Winje, a Norwegian government-backed hydro developer. This year, the company was named one of the most promising fintech and insurtech startups in the DACH region by Fintech Innovators, and won the premier early-stage startup competition &gt;&gt;venture&gt;&gt; in Switzerland.
Frigg.eco is currently active in Switzerland, Norway, Germany and Liechtenstein, and plans to expand across the broader European region, Africa and North America within the next two to three years.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/6-green-fintech-startups-from-the-dach-region-to-follow-in-2024</link><guid>3456</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>6 Green Fintech Startups from the DACH Region to Follow in 2024</dc:text></item><item><title>Societe Generale Issues Digital Green Bond on Public Blockchain</title><description><![CDATA[
									
					
							
					End of November Societe Generale issued its first digital green bond as a Security Token directly registered by SG-FORGE on the Ethereum public blockchain with increased transparency and traceability on ESG data. 
Security tokens have been fully subscribed AXA Investment Managers and Generali Investments, through a private placement.


This transaction is the first digital green bond issued by Societe Generale to leverage blockchain’s differentiating functionalities. This digital format enables increased transparency and traceability as well as improved fluidity and speed in transactions and settlements.






This operation is structured as a EUR 10m senior preferred unsecured bond with a maturity of 3 years. An amount equivalent to the net proceeds of this bond will be exclusively used to finance or refinance Eligible Green Activities, as defined in the Sustainable and Positive Impact Bond framework[2] of Societe Generale. 
This is also a first step towards using blockchain as a data repository and certification tool for issuers and investors to foster transparency on ESG and impact data on a global scale.


Featured image credit: edited from Freepik




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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/societe-generale-issues-digital-green-bond-on-public-blockchain</link><guid>3457</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Societe Generale Issues Digital Green Bond on Public Blockchain</dc:text></item><item><title>After Zug and Zermatt, Now You Can Pay Taxes Also in Lugano with Bitcoins</title><description><![CDATA[
									
					
							
					The Swiss city of Lugano announced that it has broadened its payment options by including cryptocurrencies for the payment of tax invoices and all other community fees.
Lugano will accept Bitcoin (BTC) and Tether (USDT) as a means of payment through a simple and fully automated process.
The new payment option introduced by the City of Lugano marks a modern shift in how people handle city-related expenses. Citizens and companies alike may now use Bitcoin (BTC) and Tether (USDT) to pay any invoice issued by Lugano, including tax invoices. While cryptocurrency payments in Lugano were reserved for transactions made on the City’s online portal, Lugano is now extending this possibility to all its invoices, regardless of the nature of the service or the amount invoiced.






Lugano is taking a big step by becoming one of the first cities to accept Bitcoin and Tether for all transactions, making payments more flexible and modern for everyone. This move is part of Lugano’s Plan B, a collaborative effort with Tether to use Bitcoin technology as the basis for transforming the city’s financial system. The plan aims to integrate blockchain and Bitcoin into various aspects of daily life in Lugano.
Bitcoin Suisse supports Lugano in its Plan B by handling the technical part of the integrated payment solution, providing a convenient option to accept payments with Bitcoin and Tether for tax collection and other invoices for municipal services. By using the benefits of the Swiss QR-Bill, a fully automated solution is being offered: Citizens and companies of Lugano may merely scan the QR code on the invoice received and then simply pay with their preferred mobile wallet by choosing the cryptocurrency they wish to pay with.
Bitcoin Suisse assisted in the technical infrastructure setup. Following successful implementations in the City of Zug, and the municipality of Zermatt, Lugano has become the latest Swiss municipality to officially embrace cryptocurrency as a recognized form of payment.

Featured image credit: edited from Unsplash


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			&#13;
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		]]></description><link>https://fintechnews.eu/after-zug-and-zermatt-now-you-can-pay-taxes-also-in-lugano-with-bitcoins</link><guid>3458</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>After Zug and Zermatt, Now You Can Pay Taxes Also in Lugano with Bitcoins</dc:text></item><item><title>New Board Member for Ti&amp;M: Insurtech Expert on Board</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 5, 2023
																				





					
					
							
					Insurance expert Andreas Maier joins Zurich based ti&amp;m as a new board member.
He joins Sonja Wollkopf Walt, Johannes Hoehener and Urs Buner.
With the addition of Andreas Maier, a seasoned expert in the Insurtech industry, Swiss digitalization company ti&amp;m strengthens its leadership team.






Andreas Maier
After completing his studies at HSG and holding various positions as CIO at Zurich Insurance and AXA, Andreas Maier has been serving as a senior advisor at AXA since his retirement in September 2023. Additionally, he is the founder of bluerock27, an IT service company.
Thomas Wüst
“Andreas Maier brings profound technological expertise, a deep understanding of the insurance business, and extensive industry connections. As the founder of an IT company, he also understands the intricacies of our business and brings a business perspective. I am very pleased to welcome his expertise as a new board member at ti&amp;m,”
says Thomas Wüst, founder and CEO of ti&amp;m.


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			&#13;
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		]]></description><link>https://fintechnews.eu/new-board-member-for-tim-insurtech-expert-on-board</link><guid>3455</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/Insuretech-Expert-Andreas-Maier-Joins-TiM-as-New-Board-Member-1440x564_c.jpg</dc:content ><dc:text>New Board Member for Ti&amp;M: Insurtech Expert on Board</dc:text></item><item><title>Alpian Launches Young Adult Account</title><description><![CDATA[
									
					
							
					Swiss Online private bank Alpian announced the introduction of Alpian PULSE, a new banking service designed specifically for young adults aged between 18 and 25.
Alpian PULSE was created to align with the financial growth and lifestyle aspirations of this age bracket, offering two-year complimentary access to Alpian’s premium banking services. After this introductory phase of two years and up to the age of 26, access to Alpian’s banking services will cost these young adults a monthly fee of CHF 5. In collaboration with Titolo, a well-known Swiss-based retailer of sneakers and streetwear, the package also includes a CHF 100 voucher, enhancing the value of the banking experience.
Gianmarco Bonaita
Gianmarco Bonaita, CEO of Alpian, articulates the rationale behind this move, stating,






“Our intention with Alpian PULSE is clear. We’re here to support the financial growth of young adults. With Alpian PULSE, we offer them the opportunity to lay a firm foundation in premium banking for a financially strong future. This is how we’reinvesting in the potential of the new generation.”
The rollout of Alpian PULSE underscores the bank’s commitment to adapt to and meet the evolving needs of its clientele. It is part of Alpian’s broader strategy to foster early financial literacy and empowerment among the youth while establishing a long-term relationship with the upcoming generation. Alpian, a Swiss bank licensed by FINMA, is known for blending the convenience of digital banking with professional wealth management through an intuitive app.



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		]]></description><link>https://fintechnews.eu/alpian-launches-young-adult-account</link><guid>3453</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Alpian Launches Young Adult Account</dc:text></item><item><title>Swiss National Bank Launches Wholesale Central Bank Digital Currency Project</title><description><![CDATA[
									
					
							
					On 1 December 2023, the Swiss National Bank – together with five Swiss and one German commercial bank – started a pilot project with central bank digital currency for financial institutions (wholesale central bank digital currency) on the regulated platform of SIX Digital Exchange (SDX).
With this pilot, called Helvetia Phase III, the SNB will for the first time issue real wholesale CBDC in Swiss francs on a financial market infrastructure based on distributed ledger technology (DLT). The SNB is thus moving its work from test environments into production and is making wholesale CBDC available for the settlement of real bond transactions. The banks involved will carry out the transactions on the DLT platform as intermediaries for issuers and investors. The tokenised bonds will be settled against wholesale CBDC on a delivery-versus-payment basis.
The pilot with real Swiss franc wholesale CBDC is scheduled to run from December 2023 to June 2024. The participating banks are Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg, UBS and Zürcher Kantonalbank. In addition to the SDX platform, the pilot project will use the SIC infrastructure for the tokenisation of central bank money and that of SIX SIS for integration with the traditional bond settlement infrastructure. Furthermore, SIX Repo and SDX test systems will be used to explore the trading and settlement of repo transactions with wholesale CBDC.






DLT and tokenised assets are already being used in some areas of the regulated financial system, where they promise to deliver efficiency gains and greater transparency. If DLT establishes itself in the financial system, the question for central banks is how token transactions between financial institutions can be settled in central bank money. Central bank money, which poses no counterparty risk, could thus continue to play its key role in maintaining the stability and efficiency of the financial system.
In March 2023, the SNB announced that it would examine three models for settling the cash leg of tokenised asset transactions. One model involves the issuance of wholesale CBDC for settling tokenised assets; another involves the linking of settlement systems for tokenised assets with the existing SIC payment system; and a third involves the use of private, bankruptcy-protected token money that is backed by central bank money. The upcoming pilot project adopts the first model, for which the SNB will be able to build on the findings of earlier Project Helvetia phases.
The upcoming pilot does not constitute a commitment on the part of the SNB to introduce wholesale CBDC on a permanent basis. Rather, the SNB aims to test the various models for settling tokenised assets.
Thomas J. Jordan
“For several years now, the SNB has been testing a variety of potential applications for wholesale CBDC. Together with our partners, we have already been able to make important contributions to research in the CBDC field. With this pilot project, we are now, for the first time, making it possible to securely and efficiently settle transactions with tokenised assets on a regulated and productive DLT platform using real wholesale CBDC. We are proud of our internationally pioneering role in this area as we carry out this innovative project together with SIX and the participating banks,”
says Thomas J. Jordan, Chairman of the Swiss National Bank’s Governing Board.

Featured image credit: edited form freepik


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	]]></description><link>https://fintechnews.eu/swiss-national-bank-launches-wholesale-central-bank-digital-currency-project</link><guid>3454</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Swiss National Bank Launches Wholesale Central Bank Digital Currency Project</dc:text></item><item><title>Neuer digitaler Vermögensverwalter für freie Vorsorgegelder der Generation 50+</title><description><![CDATA[
									
					
							
					Im Zuge der kontinuierlichen Weiterentwicklung hat sich die PSS AG, ein Vermögensverwalter mit Fokus auf digitale Geldanlage für freie Vorsorgegelder der Generation 50+, für einen neuen Firmen- und Markennamen entschieden.
Ab sofort firmiert das Unternehmen als Finpact AG mit dem Claim «Meine moderne Geldanlage fürs Leben». Die Namensänderung spiegelt nicht nur die Entwicklung des Unternehmens vom Startup zum etablierten Finanzdienstleister wider. Sie bekräftigt auch den Anspruch, der Generation 50+ intuitive und zukunftsweisende Anlagelösungen für Kapitalbezüge, Erbschaften und Erspartes anzubieten.
Die wachsende Bedeutung, die Bedürfnisse und das Nutzungsverhalten der Generation 50+ in Bezug auf digitale Anlage- und Vorsorgelösungen, untersucht eine neue Studie, die Finpact in Zusammenarbeit mit der Hochschule Luzern (HSLU) und unterstützt von Innosuisse Anfang 2024 veröffentlichen wird.






Alain Beyeler
Alain Beyeler, CEO der Finpact AG, erklärt:
«Mit der Neuausrichtung unter dem Namen Finpact unterstreichen wir unsere Position als Entwickler und Anbieter von intuitiven, digitalen Anlagelösungen, die speziell auf die Bedürfnisse der Generation 50+ in der Schweiz zugeschnitten sind. Finpact ist in diesem Bereich die Alternative zu traditionellen Banklösungen, die von unseren Kundinnen und Kunden oft als komplex, für Laien schwer verständlich und als intransparent wahrgenommen werden. Der Name “Finpact” ist ein bewusst gewähltes Wortspiel, das die Elemente “Pact” (Vertrag), “Act” (Handeln) und “Fin” (Finanzen) geschickt miteinander verbindet. Der Name widerspiegelt unsere Grundwerte und unsere Mission.»
Bewirtschaftung des freien Vorsorgevermögens gewinnt weiter an Bedeutung
Im Alter zwischen 55 und 65 Jahren fallen überdurchschnittlich hohe Kapitalflüsse aus Kapitalbezügen, Erbschaften und Erspartem an. So beziehen 54% der Neurentnerinnen und Neurentner in der Schweiz jährlich einen Kapitalbezug von durchschnittlich CHF 260‘000 (Bundesamt für Statistik BFS, 2020). Entsprechend zeigt auch die HSLU-Studie «Digitales Anlegen in der Schweiz – ein Markt mit Potential», dass der Anteil der Anlegerinnen und Anleger unter den Befragten mit steigendem Finanzvermögen und Alter deutlich zunimmt (IFZ, 2022). Für den Wachstumsmarkt der digitalen Anlageplattformen sind über 50-Jährige somit eine wichtige Zielgruppe.
11 Milliarden jährliches Potential
Ralf Seiz
Dr. Ralf Seiz, VRP der Finpact AG, sagt:
«Jährlich fliessen gemäss Bundesamt für Statistik zurzeit rund 11 Milliarden Schweizer Franken an Kapitalbezügen aus der beruflichen Vorsorge in die freien Vermögen. Wir verstehen uns als Pionier in der Vermögensverwaltung dieser freien Altersguthaben, wo wir heute und in Zukunft ein enormes Potenzial sehen. Unser Ziel ist es, die bestmögliche Geldanlage für die Generation 50+ zu schaffen.»
Und weiter:
«Als Spin-off der Universität St.Gallen wollen wir als digitaler Vermögensverwalter neue Massstäbe in der Zusammenarbeit mit Pensionskassen setzen. Der neue Markenname Finpact stärkt unsere Position als digitale Anlageplattform für die Generation 50+ und kommuniziert unseren Anspruch klar. Wir danken all unseren Kunden, Partnern und Mitarbeitenden für die anhaltende Unterstützung und freuen uns darauf, mit dem neuen Namen den Grundstein zu legen, um viele spannende neue Anlagelösungen und Funktionen zu lancieren.»
In weniger als fünf Minuten zum persönlichen Anlagevorschlag
Die Finpact AG hat sich auf die digitale Geldanlage für die Generation 50+ spezialisiert – für Kapitalbezüge, Erbschaften und Erspartes. Sie verfolgt das Ziel, der Generation 50+ mit modernster Technologie und intuitiver Beratung die moderne Geldanlage näher zu bringen und so einfach wie möglich zu gestalten.
Mit dem benutzerfreundlichen Anlageplaner von Finpact können auch Personen und insbesondere ältere Menschen ohne grosses Finanzwissen in nur wenigen Minuten personalisierte Anlagevorschläge erstellen und erhalten eine massgeschneiderte und intuitive Anlagelösung.
In der anschliessenden persönlichen Beratung unterstützt Finpact seine Kundinnen und Kunden bei der Umsetzung ihrer Vermögensziele und bietet moderne Anlagestrategien mit zukunftsorientierten Portfolios. Bei der Entwicklung und Verwaltung der Vermögenswerte arbeitet Finpact mit mehr als 60 Partnern zusammen, darunter Finanzberater, Pensionskassen und Banken.
Neue Studie zur Generation 50+ zeigt grosses Potenzial für freie Vorsorgegelder auf
Die Generation 50+ verfügt über den grössten Teil des Vermögens der privaten Haushalte in der Schweiz. Ihr Vermögen stammt aus Erbschaften, Kapitalbezügen, Ersparnissen oder Unternehmensverkäufen und ist beträchtlich. Mit einem Privatvermögen zwischen 200’000 und 2 Millionen Franken trägt sie rund 40% zum gesamten Finanzvermögen des Landes bei.
Eine bevorstehende Studie der Hochschule Luzern (HSLU) in Zusammenarbeit mit Finpact wird erstmals die aktuelle Relevanz, die Bedürfnisse und das Nutzungsverhalten der Generation 50+ in Bezug auf digitale Anlage- und Vorsorgelösungen in der Schweiz untersuchen. Im Rahmen dieses Forschungsprojektes, das von der Schweizerischen Agentur für Innovationsförderung Innosuisse unterstützt wird, wurde eine umfangreiche Onlineumfrage durch das LINK Institut durchgeführt. Ausserdem wurden die Teilnehmenden zu ihrer generellen Einstellung zum Thema «Anlagen» befragt. Die Ergebnisse werden Anfang 2024 publiziert und vorgestellt.


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	]]></description><link>https://fintechnews.eu/neuer-digitaler-vermogensverwalter-fur-freie-vorsorgegelder-der-generation-50</link><guid>3452</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Neuer digitaler Vermögensverwalter für freie Vorsorgegelder der Generation 50+</dc:text></item><item><title>Swift Launches Instant 24/7 Cross Border Payments in Europe</title><description><![CDATA[
									
					
							
					Cross-border payments destined for Europe can now reach beneficiaries in seconds through seamless connection to instant domestic payment systems, with full transparency and end-to-end tracking powered by Swift.
The European Payment Council’s One-Leg-Out Instant Credit Transfer scheme, which went live this week, enables payments to and from Europe to be processed 24 hours a day, seven days a week.
The go-live follows on from a successful proof of concept earlier this year in which Swift collaborated with Spanish banks Iberpay, BBVA, CaixaBank and Santander; and commercial banks from Australia (ANZ and the National Australia Bank), Brazil (Itaú Unibanco) and the UK (Lloyds Banking Group), with dozens of international payments successfully reaching Spanish accounts within seconds.






Interlinking market infrastructures in this way is a key method by which to achieve the G20’s goals for cross-border payments around speed, transparency, cost and access. Swift announced earlier this year that 89% of payments on its network reached the end bank within an hour. The G20 is targeting 75% of cross-border payments to be credited with the beneficiary within an hour by 2027.
OCT Inst is seen by financial institutions as an opportunity to leverage the benefits of domestic instant payment systems globally, while enabling outgoing flows and using existing rails.
Marianne Demarchi
Marianne Demarchi, Chief Executive of Swift in Europe, said:
“Interoperability is at the heart of everything we are doing at Swift to achieve our strategy of instant and frictionless payments for all, and it will be key to achieving the G20’s goals for cross-border payments. The EPC’s OCT Inst scheme is a positive step for Europe that will enhance the user experience for payers in Europe, but also all around the world.”


Featured image credit: Freepik


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	]]></description><link>https://fintechnews.eu/swift-launches-instant-247-cross-border-payments-in-europe</link><guid>3451</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Swift Launches Instant 24/7 Cross Border Payments in Europe</dc:text></item><item><title>Swift Launches Instant 24/7 Cross Border Payments</title><description><![CDATA[[unable to retrieve full-text content]]]></description><link>https://fintechnews.eu/swift-launches-instant-247-cross-border-payments</link><guid>3449</guid><author>Administrator</author><dc:content /><dc:text>Swift Launches Instant 24/7 Cross Border Payments</dc:text></item><item><title>SEBA Bank Rebrands to Amina Bank</title><description><![CDATA[
									
					
							
					SEBA Bank AG, a fully licensed Swiss crypto bank, announced today its new brand identity: AMINA Bank AG. The group operates globally from its regulated hubs in Zug, Abu Dhabi and Hong Kong, offering its clients traditional and crypto banking services.
SEBA Bank made history in 2019 by becoming one of the first FINMA-regulated institutions to provide crypto banking services.
The name ‘AMINA’ stems from the term ‘transAMINAtion’, meaning transference of one compound to another. AMINA is a brand driven by perpetual change, bringing together the various ‘compounds’ of traditional, digital, and crypto banking to unlock new potential and growth for our clients. This vision of change represents the transformation of our clients’ financial future.






Franz Bergmueller
Franz Bergmueller, CEO of AMINA, said:
“We are delighted to introduce the world to our new brand identity. While we say goodbye to the SEBA name, we remain forever proud of the achievements made by the group under the former brand.
Current clients of AMINA Bank (formerly SEBA Bank) will be unaffected by the rebrand other than encountering the new name; all operations will be business as usual across the board.
The branch office based in Abu Dhabi and the subsidiaries in Hong Kong and Singapore will subsequently apply for a name change to align with the head office in Zug.

Featured image credit: AMINA webiste


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		]]></description><link>https://fintechnews.eu/seba-bank-rebrands-to-amina-bank</link><guid>3450</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>SEBA Bank Rebrands to Amina Bank</dc:text></item><item><title>7 Young Fintech Startups from the DACH Region to Keep an Eye on</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						December 1, 2023
																				





					
					
							
					Fintech Innovators, a community of fintech and insurtech innovators from Germany, Switzerland and Austria (DACH), has released its annual report featuring the most exciting and fastest-growing fintech and insurtech companies across the DACH region.
Produced in collaboration with robo-advisory platform Inno Invest, the 2023 Rising Stars Report showcases more than 70 fintech and insurtech newcomers in the region, highlighting their plans, successes and solutions.
Among these players, several startups are standing out from the crowd for having witnessed considerable growth and traction despite their young age. These ventures, which have been established less than three years ago, have already managed to ink partnerships with notable players and have all secured their first round of fundraising. These startups are now poised for growth, and should be watched closely this year onwards.






Debtist (Germany)

Founded in early 2023 and based in Germany, Debtist specializes in end-to-end receivables management, focusing on optimizing debt collection processes for businesses worldwide. The company provides a comprehensive suite of services, seamlessly integrating technology and best practices to ensure efficient workflows and smooth transitions.
Debtist relies on embedded technology to integrate its platform with subscription management, bookkeeping, and treasury management platforms, allowing for the seamless meshing with businesses’ established systems.
Debtist operates in Germany and France and is extending its services to German clients in Spain, the UK, Italy and beyond. The startup, which launched in May 2023, claims that it is doubling its number of customers and revenue on a monthly basis, and says it is currently rolling out its embedded solution with two leading European software companies to bring its offering directly to more than 50,000 small and medium-sized enterprises (SMEs).
Debtist secured an undisclosed pre-Seed round of funding in October to enhance its product and enlarge its team.
Tapline (Germany)

Founded in 2021 and headquartered in Berlin, Tapline develops an intelligent finance platform that enables software-as-a-service (SaaS) companies to predict future cash flows and raise instant, non-dilute capital by trading their subscriptions as needed.
The funding platform allows for swift onboarding, providing clients with a proprietary tech-enabled credit score and a free financial dashboard to monitor various metrics of users’ businesses daily. It’s a one-stop shop for SaaS clients to run their business more efficiently through key free business metrics and access to liquidity.
Tapline is focused on business-to-business (B2B) and business-to-consumer (B2C) business models, especially in the DACH and fast-growth Central and Eastern Europe market. The platform can deploy capital in less than 48 hours after client onboarding, and companies with as little as EUR 8,000 monthly recurring revenue can trade up to 60% of their annual recurring revenue into instant, non-dilutive capital. It offers startups six or 12 months of upfront cash at a discount against the future value of their revenues. Funding of up to EUR 1 million is offered making this solution suitable not only for SaaS startups, but also for later growth stage like companies.
To date, Tapline says it has made EUR 100 million in SaaS finance requests and has accomplished 100% successful pilot trades.
Tapline raised EUR 31.7 million in a pre-Seed round in November 2022 to increase sales and marketing efforts, accelerate product development by hiring people for key product positions, and to tap into the exponentially growing SaaS market.
Pile (Germany)

Founded in 2022 and headquartered in Berlin, Pile is a so-called “neo treasurer” that supports startups and venture capital (VC) firms in managing their capital and reducing financial risks. The company’s mission is to help startups find a secure place to invest their capital, independent of individual bank risks, and earn interest to extend their runway.
Pile’s product provides a way to diversify capital across multiple banking providers, from neobanks to traditional institutions, supporting customers in banking with various providers simultaneously while having an overview in one place. This gives founders and CFOs a real-time and accurate summary of their capital. Additionally, customers can choose between different interest-bearing deposit products, so they can extend their runway and let their money grow.
Pile, which went live just earlier this year, was founded by former Penta Founder Jessica Holzbach. The startup is backed by prominent fintech founders such as Max Tayenthal from N26, Carolin Gabor from Finleap, Luka Ivicevic from Index Health and Tuomas Toivonen from Holvi, and secured a EUR 2.8 million Seed round in June 2022.
Bling (Germany)

Founded in Berlin in 2021, Bling is a family fintech startup that delivers digital financial solutions for parents and their children. The company’s offering includes an allowance app and a payment card for children and young people. In the app for children, Bling provides financial tips, savings goals, and many other functions and content, teaching financial literacy. Depending on the age of the children, parents can decide for themselves how much trust and freedom is appropriate.
Bling also provides a banking offering for parents that’s designed to help adults manage and understand personal finances. These products include a payment card that works alongside the Bling platform, in addition to spending insights and analytics.
In addition, families on Bling can invest money sustainably starting at just EUR 1 a month.
Bling claims that tens of thousands of families are currently using its app, and says it plans to expand across Europe within the next two to three years. The startup secured “millions” in its Seed financing round in December 2022.
Bunch (Germany)

Founded in 2021 and headquartered in Berlin, Bunch is building a platform to streamline processes to manage investment funds end-to-end and automate large parts of previously manual work. The company’s private market investing platform, the Bunch OS, is an asset and jurisdiction agnostic investment platform that allows investors to set up and manage their investment entities in a seamless way, while at the same time offering investors more professional tools.
The platform, which is currently in public beta, is designed to make investing in private markets easy, cost-efficient and fast, without compromising regulatory and tax compliance. It is a flexible and adaptable platform that works across legal structures, asset classes and jurisdictions to fully unlock private markets for everyone.
Bunch, which is currently available in Germany and the Netherlands, hopes to expand to the UK and Luxembourg within the next two to three years. The startup secured a EUR 7.3 million Seed funding round in July 2022 to expand across additional geographies and asset classes, and advance the technical and product development of its holistic software platform. Its backers include founders of European fintech companies like Adyen, Klarna, Juni, and Moonfare, as well as private market investment and fintech experts.
Yainvest (Switzerland)

Yainvest is a Swiss-based digital subsidiary established in 2022 by BhFS, a spin-off company of the universities of St. Gallen and Zurich. The company helps banks, fintech companies, and wealth and asset managers generate more investment returns for their clients with applied behavioral finance individual investor profiles.
Yainvest’s behavioral finance services are based on individual investor profiles, education, and optimal personalized investment strategy. The company also provides behavioral finance-based market signals for tactical asset allocation and transactional data analysis to detect investor biases. Its products enable  compliance with UK Financial Conduct Authority (FCA)’s Consumer Duty rules to serve retail investors applying behavioral finance for their best interest and also helps to do advanced measures of individuals’ environmental, social and governance (ESG) standards preferences and risk.
As a result of applying Yainvest’s solutions, investors stay invested longer, customers witness fewer withdrawals, and more clients are satisfied. The company claims its solutions help to increase investment performance by up to 3% a year.
Yainvest was one of the ten finalists of the 2023 Finance and Insurance industry vertical of the &gt;&gt;venture&gt;&gt; startup competition. The company, which currently operates in the US, the UK, DACH, the United Arab Emirates (UAE) and Saudi Arabia, is looking to consolidate its presence in the US and expand into Hong Kong and Singapore within the next two to three years.
Findustrial (Austria)

Founded in 2020, Findustrial is an Austrian provider of pay-per-use and as-a-service solutions. The company aims to create a digital ecosystem, streamlining the shift to so-called “equipment-as-a-service” models and offering flexible machinery financing solutions that make use of data analytics, the Internet-of-Things (IoT) and blockchain technology.
Findustrial’s main services include the implementation of pay-per-use models and the provision of usage-based financing, which allows businesses to generate long-term revenue. These services primarily cater to the manufacturing industry, specifically manufacturers of machinery and equipment.
Findustrial has managed to sign some notable customers since its inception, including Trumpf Austria, Matsuura, RubbleMaster and GlenDimplex.
Findustrial, which currently operates in the DACH region, aims to expand to the UK and the US within the next three years, and hopes to breakeven in the next 18 months. The startup secured US$1 million in a Seed funding round in 2022, data from Dealroom show.

Featured image credit: Edited from Unsplash


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	]]></description><link>https://fintechnews.eu/7-young-fintech-startups-from-the-dach-region-to-keep-an-eye-on</link><guid>3447</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/12/7-Young-Fintech-Startups-from-the-DACH-Region-to-Keep-an-Eye-on-1440x564_c.jpg</dc:content ><dc:text>7 Young Fintech Startups from the DACH Region to Keep an Eye on</dc:text></item><item><title>Impact Investing: Partnerschaft zwischen Migros Bank und Inyova</title><description><![CDATA[
									
					
							
					Die Migros Bank geht mit Inyova eine Partnerschaft ein, um eine gemeinsame Vermögensverwaltung und den Bereich des Impact Investing aufzubauen.
So werden Kundinnen und Kunden künftig in Unternehmen investieren können, die einen Beitrag zur Lösung der Klimafrage leisten.
Manuel Kunzelmann
«Nachhaltigkeit gehört seit der Gründung der Migros-Gruppe zum Kern ihrer Unternehmenswerte»,
erläutert Manuel Kunzelmann, CEO der Migros Bank.






«Dabei helfen uns Partnerschaften, Angebote nahe an den Wünschen unserer Kundinnen und Kunden zu schaffen. Inyova ist für uns ein idealer Partner, da er über eine jahrelange Erfahrung im Impact Investing verfügt und dadurch die Bereiche Nachhaltigkeitsimpact und Geldanlage optimal verbindet»,
so Manuel Kunzelmann.
Tillmann Lang
Tillmann Lang, CEO und Co-Gründer von Inyova, erklärt:
«Mit der Migros Bank und Inyova haben sich zwei sehr engagierte und zukunftsgerichtete Unternehmen gefunden. Wir freuen uns sehr auf die Zusammenarbeit. Wir möchten die Migros Bank darin unterstützen, das Thema Nachhaltigkeit und die Chancen des Impact Investing einem breiten Kreis interessierter Kundinnen und Kunden zugänglich zu machen. Gleichzeitig kommen wir damit unserem eigenen Ziel, Millionen von Menschen zu Impact-Investorinnen und -Investoren zu machen, einen Schritt näher.»


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		]]></description><link>https://fintechnews.eu/impact-investing-partnerschaft-zwischen-migros-bank-und-inyova</link><guid>3448</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Impact Investing: Partnerschaft zwischen Migros Bank und Inyova</dc:text></item><item><title>N26 Goes Stocks and ETF Trading</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 30, 2023
																				





					
					
							
					N26‘s primary strategic goal remains sustainable and profitable growth. To achieve this, the company continues to position customer activity and daily account usage at the core of its product strategy across its portfolio of spending, saving, investment and credit features.
Following the introduction of N26 Crypto in 2022 and the recent launch of new Instant Savings Accounts, N26’s product offering will be expanded further to include an additional investment product next year.
In partnership with German fintech Upvest, N26 customers will have the opportunity to trade stocks and ETFs directly in the N26 app within the first half of 2024.






 
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		]]></description><link>https://fintechnews.eu/n26-goes-stocks-and-etf-trading</link><guid>3446</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/N26-Group-Shares-Profitability-Expectations-and-Announces-Upcoming-Trading-Product-1440x564_c.jpg</dc:content ><dc:text>N26 Goes Stocks and ETF Trading</dc:text></item><item><title>Nasdaq Launches Digital Platform for Global Carbon Markets Based on Smart Contracts</title><description><![CDATA[
									
					
							
					Nasdaq announced the launch of a new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally.
The service will support the development and institutionalization of global carbon markets. Despite being a relatively young market the carbon credit operating model is characterized by bilateral trading and a heavy reliance on manual interaction, providing limited ability to scale as the market develops. This inflexibility has also led to an absence of standardization – where credit data can be categorized and integrated into existing systems – which is a major barrier to attracting significant capital flows.
The technology will allow market operators and registries to create standardized digital credits and distribute them with full auditability throughout the transaction lifecycle. Nasdaq has also developed a carbon taxonomy framework that can readily incorporate new types of credit as the market evolves, along with a comprehensive set of APIs that will allow participants to seamlessly interact across the market. Together, this will help establish a standardized, trusted ecosystem capable of attracting high-quality liquidity from a variety of investors.






Roland Chai

“Fragmented technology choices in the trading and settlement of carbon credits has prevented the carbon industry from growing and maturing as an asset class. A lack of system flexibility, standardization, and connectivity has made it challenging for critical infrastructure providers and institutional investors to access the market in a meaningful way,”
said Roland Chai, Executive Vice President and Head of Marketplace Technology at Nasdaq.
“Bringing institutional grade technology to underpin the market will drive ever-greater liquidity across carbon marketplaces and open the possibility of greater interoperability between registries in the future.”

The service will utilize smart contract technology, allowing customers to securely create and process rights, obligations, and other information relating to the underlying asset. By automating several asset servicing and settlement procedures, the technology has the power to enhance efficiency and transparency throughout the trade lifecycle and provide a complete audit trail of credit ownership and retirement. The technology can also be used to reimagine current multiparty workflows in industries where paper, manual processes, and risk are obstacles to growth.
The issuance, settlement, and custody capabilities can be readily integrated with existing technology architectures used across the financial system, or deployed as a standalone platform, while also offering flexibility to connect to existing payment networks and bilateral settlement options. This will allow infrastructure providers to continue serving traditional markets, whilst also capturing growth opportunities from carbon markets, without the cost associated with major change programs.
Additionally, Nasdaq offers infrastructure optionality that enables the technology to be deployed on either a centralized database or using private blockchain technology.
Nasdaq announces technology partnership with Puro.earth
Alongside the launch of the service, Nasdaq has today announced a new technology partnership with Puro.earth, a world-leading standards and registry platform for engineered carbon removal, to register CO2 Removal Certificates, or CORCs. The registry tracks the issuance, retirement, and the transfer of the assets, providing full traceability and transparency to avoid double counting carbon removal projects.
Antti Vihavainen
Antti Vihavainen, CEO of Puro.earth, added:
“Accurately managing the lifecycle of carbon credits is essential for trust. By leveraging Nasdaq’s technology, the core part of our carbon crediting infrastructure, the Puro Registry will be modernized. The system will become available for carbon marketplaces and exchanges through the Puro Connect API and will also have the preparedness for labeling CORCs compliant with Article 6 of the Paris Agreement.”
The company’s Puro Standard is the first carbon removal standard for engineered carbon removal methods in the voluntary carbon market. It consists of high-quality carbon removal methodologies, aligned with the Intergovernmental Panel on Climate Change definition for carbon removal.
Certified suppliers and their carbon removals are verified by an independent third-party and the CORCs can be bought by companies seeking to offset their carbon footprint directly from suppliers or through a third-party marketplace.

This article first appeared on fintechnews.am




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	]]></description><link>https://fintechnews.eu/nasdaq-launches-digital-platform-for-global-carbon-markets-based-on-smart-contracts</link><guid>3444</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Nasdaq Launches Digital Platform for Global Carbon Markets Based on Smart Contracts</dc:text></item><item><title>Nasdaq Launches Digital Platform for Global Carbon Based on Smart Contracts</title><description><![CDATA[
									
					
							
					Nasdaq announced the launch of a new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally.
The service will support the development and institutionalization of global carbon markets. Despite being a relatively young market the carbon credit operating model is characterized by bilateral trading and a heavy reliance on manual interaction, providing limited ability to scale as the market develops. This inflexibility has also led to an absence of standardization – where credit data can be categorized and integrated into existing systems – which is a major barrier to attracting significant capital flows.
The technology will allow market operators and registries to create standardized digital credits and distribute them with full auditability throughout the transaction lifecycle. Nasdaq has also developed a carbon taxonomy framework that can readily incorporate new types of credit as the market evolves, along with a comprehensive set of APIs that will allow participants to seamlessly interact across the market. Together, this will help establish a standardized, trusted ecosystem capable of attracting high-quality liquidity from a variety of investors.






Roland Chai

“Fragmented technology choices in the trading and settlement of carbon credits has prevented the carbon industry from growing and maturing as an asset class. A lack of system flexibility, standardization, and connectivity has made it challenging for critical infrastructure providers and institutional investors to access the market in a meaningful way,”
said Roland Chai, Executive Vice President and Head of Marketplace Technology at Nasdaq.
“Bringing institutional grade technology to underpin the market will drive ever-greater liquidity across carbon marketplaces and open the possibility of greater interoperability between registries in the future.”

The service will utilize smart contract technology, allowing customers to securely create and process rights, obligations, and other information relating to the underlying asset. By automating several asset servicing and settlement procedures, the technology has the power to enhance efficiency and transparency throughout the trade lifecycle and provide a complete audit trail of credit ownership and retirement. The technology can also be used to reimagine current multiparty workflows in industries where paper, manual processes, and risk are obstacles to growth.
The issuance, settlement, and custody capabilities can be readily integrated with existing technology architectures used across the financial system, or deployed as a standalone platform, while also offering flexibility to connect to existing payment networks and bilateral settlement options. This will allow infrastructure providers to continue serving traditional markets, whilst also capturing growth opportunities from carbon markets, without the cost associated with major change programs.
Additionally, Nasdaq offers infrastructure optionality that enables the technology to be deployed on either a centralized database or using private blockchain technology.
Nasdaq announces technology partnership with Puro.earth
Alongside the launch of the service, Nasdaq has today announced a new technology partnership with Puro.earth, a world-leading standards and registry platform for engineered carbon removal, to register CO2 Removal Certificates, or CORCs. The registry tracks the issuance, retirement, and the transfer of the assets, providing full traceability and transparency to avoid double counting carbon removal projects.
Antti Vihavainen
Antti Vihavainen, CEO of Puro.earth, added:
“Accurately managing the lifecycle of carbon credits is essential for trust. By leveraging Nasdaq’s technology, the core part of our carbon crediting infrastructure, the Puro Registry will be modernized. The system will become available for carbon marketplaces and exchanges through the Puro Connect API and will also have the preparedness for labeling CORCs compliant with Article 6 of the Paris Agreement.”
The company’s Puro Standard is the first carbon removal standard for engineered carbon removal methods in the voluntary carbon market. It consists of high-quality carbon removal methodologies, aligned with the Intergovernmental Panel on Climate Change definition for carbon removal.
Certified suppliers and their carbon removals are verified by an independent third-party and the CORCs can be bought by companies seeking to offset their carbon footprint directly from suppliers or through a third-party marketplace.

This article first appeared on fintechnews.am




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	]]></description><link>https://fintechnews.eu/nasdaq-launches-digital-platform-for-global-carbon-based-on-smart-contracts</link><guid>3445</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Nasdaq Launches Digital Platform for Global Carbon Based on Smart Contracts</dc:text></item><item><title>Aurachain Partners with Microsoft Azure Marketplace</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 29, 2023
																				





					
					
							
					Aurachain, a Swiss platform for low-code process automation solutions, announced its availability in the Microsoft Azure Marketplace.
Microsoft Azure users worldwide can now access Aurachain’s low-code platform while Aurachain customers gain  deployment and management through Azure’s cloud infrastructure.
Aurachain’s platform is uniquely designed to address the evolving needs of enterprises in an increasingly digital world. Offering a low-code solution for process automation, it empowers organizations to streamline operations, automate workflows, and accelerate innovation.






Adela Wiener
Adela Wiener, CEO of Aurachain, expressed her excitement:
“We’re honored to join the Microsoft Azure Marketplace as a trusted technology provider, extending the reach of our cutting-edge low-code solution to customers around the world. This collaboration signifies a significant milestone in our journey to empower enterprises for the digital era.”
The Azure Marketplace provides a trusted platform for companies seeking cloud solutions certified and optimized for use with Azure. It connects businesses with innovative, cloud-based solutions developed by trusted partners who have a proven track record of delivering excellence.
Alina Irma Orban
Alina Irma Orban, Senior Director ISV Partners &amp; Startups Central Europe &amp; Central Asia at Microsoft, commented:
“We are pleased to welcome Aurachain to the Microsoft Azure Marketplace, offering our cloud customers access to a leading low-code platform. The Azure Marketplace continues to provide world-class solutions from trusted partners, tested to seamlessly integrate with Azure, enhancing the digital journey for organizations globally.”


Featured image credit: Adela Wiener, CEO of Aurachain and Alina Irma Orban, Senior Director ISV Partners &amp; Startups Central Europe &amp; Central Asia at Microsoft. background edited from freepik


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	]]></description><link>https://fintechnews.eu/aurachain-partners-with-microsoft-azure-marketplace</link><guid>3443</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Aurachain-Announces-Availability-in-the-Microsoft-Azure-Marketplace--1440x564_c.jpg</dc:content ><dc:text>Aurachain Partners with Microsoft Azure Marketplace</dc:text></item><item><title>Commerzbank Goes AI Banking via Avatars Powered by Microsoft Azure</title><description><![CDATA[
									
					
							
					Commerzbank launched a project to realize a new customer experience with an AI Banking Avatar as mobile first approach.
The banking avatar is a virtual assistant in form of a digitalized person that interacts with customers in natural language. Customers can ask their virtual assistant questions, get general information as well as personalized advice. The Avatar will offer various banking services for the Bank’s Private and Small Business Customers. The Banking Avatar will be developed for mobile devices as a first step for the target group of 2.2 million active Banking App users.
The Banking Avatar will be powered by Microsoft Azure which offers enterprise-grade security, scalability, and reliability as well as data security. Specifically, it will integrate Microsoft Azure OpenAI Service for advanced GPT models and to generate natural and engaging conversations. It will also integrate the new Microsoft Azure text to speech avatar service, just announced at Microsoft Ignite, which enables the creation of realistic and expressive digital avatars.






Commerzbank to be one of the first banks combining Generative AI and Avatar technology in a customer facing application
Commerzbank is one of the first banks combining Generative AI and Avatar technology in a customer facing application to provide a cutting-edge customer experience, which will be part of the digital footprint of the bank. The bank believes this innovative digital offering will improve customer satisfaction and significantly simplify banking, because customers will need digital credentials only and can interact with the assistant in a natural manner. First customer tests show very good results and the highly appreciated innovative character of this new solution, which is a hybrid customer experience, i.e. a mixture of a human and digital interaction.
The Avatar project started in an agile, joint-team approach with stringent and regular customer involvement. The AI logic will combine conventional AI with Generative AI and attach high attention to develop trustworthy and responsible AI as well as data security.
New chapter in Commerzbank’s digital strategy aiming to provide customers with the best digital experience
Thomas Schaufler
“We are excited to start the Banking Avatar project. It is a new way of banking and combining convenience, personalization, and digital performance on the next level. We want to offer our customers the best digital experience and help them manage their finances with ease and confidence,”
said Thomas Schaufler, Board Member for Private and Small Business Customers at Commerzbank.
Ralph Haupter
“Commerzbank has established itself as one of the leading banks in Germany, with a focus on offering products and services that are tailored to the needs of its customers. The Banking Avatar project powered by Azure AI’s advanced speech capabilities is a great example of how businesses can use Generative AI technology to provide a new level of dynamic, personalized customer experiences,”
commented Ralph Haupter, President Microsoft EMEA.


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	]]></description><link>https://fintechnews.eu/commerzbank-goes-ai-banking-via-avatars-powered-by-microsoft-azure</link><guid>3442</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Commerzbank Goes AI Banking via Avatars Powered by Microsoft Azure</dc:text></item><item><title>Banking in 2024: Global Challenges, Europe’s Focus, and Innovation Path</title><description><![CDATA[
									
						
																				
																			
												
															
									by Vitus Rotzer, Chief Revenue Officer - Financial Messaging Globally, Bottomline								
																						November 28, 2023
																				





					
					
							
					As the Roman poet Ovid once said, ‘A horse never runs as fast as when it has other horses to catch and surpass.’ This metaphor aptly captures the essence of today’s banking sector, where understanding market demands and competitor strategies is crucial for staying ahead in the race. Competition not only drives the market but also serves as a catalyst for continuous innovation and growth within financial institutions.
Plus, there is no shortage of global issues for banks to put on their agenda for 2024. Right off the top, we have cloud migration, the acceleration of real-time or instant payments, new regulations, and fraud mitigation to contend with.
Those priorities were evident in this year’s global “Future of Competitive Advantage in Banking and Payments” report from fintech solutions provider Bottomline.
However, look under the surface of the key findings, and one can see something very interesting. What’s front of mind for banking executive in New York City might not meet the same priorities in London, Frankfurt, Zurich, or Singapore. Those differences are necessary to track as executives continue to craft their 2024 and future roadmaps.
Bottomline has identified three key findings in the report that are essential to understand as we enter the new year. They also highlight the different priorities and pain points across the regions globally covered.
Modernizing payments with digital and cloud strategies
Image by rawpixel.com on Freepik
This strategy should start with payments modernization. According to the report, there are some significant regional differences here.
First, when it comes to digital transformation, Bottomline surveyed over 600 global respondents to see if they were confident in their institution’s current digital payments transformation strategy.
The findings were that North America seems much more sceptical than other regions, with 39% choosing options “highly” or “somewhat” sceptical. Europe is the most bullish, with 78% feeling “highly” or “somewhat” confident.
That’s a big swing and could be attributed to the regulations coming down in the UK and Europe, most of which concern real-time/instant payments. If banks feel like their digital transformation roadmap is mandated, it’s entirely possible they feel more confident about achieving it).
The next question supports that theory, which centered around migrating to the cloud or, as it was phrased, “a single SaaS-based platform for your payments and messaging ecosystem.”
73% of APAC respondents have a “strong” or “extremely strong” appetite to transition to SaaS versus 60% globally and only 44% for NA. Again, does digital transformation equate to the cloud for many banking executives? Bottomline’s research suggests that it does.
Real-time payments picks up the pace
Image by Freepik
There’s arguably no more important issue globally for 2024. FedNow, an instant payment service developed by the Federal Reserve for depository institutions in the U.S., will see its first full year as a payment platform.
In the EU and EAA, the European Payments Council’s new mandate will be approved (November 2023 saw political agreement), which will mean all EU and EAA citizens need to be able to send and receive instant payments within six and 12 months respectively (EEA is 30 months and 36 months).
Therefore, financial institutions must get cracking and pick up the pace. Not only because adding a new payment rail in itself involves at least a 9-month project but also to ensure you achieve certain added requirements.
These include ensuring the new instant payment fees stay in line with non-instant transfers and that you have the functionality in place to match the international bank account number (IBAN) and the name of the beneficiary and can verify clients against the regularly-updated EU sanctions list.
Similarly, any bank in the Swiss market that processes 500,000+ SIC messages needs to be ready for SIC IP by Aug 2024 (the planning for SIC IP service corresponds to a ‘technical go live’ in November 2023 and a ‘market go live’ in August 2024). Testing should start no later than mid-2023 for early adopters and so yet another date for your strategic diaries) and all the remaining banks by 2026.
Additionally, Pay.UK is announcing changes to the New Payments Architecture, and UK Faster Payment’s role is increasing imminently.
Lastly, will P27 in the Nordics be on hold permanently, or will a new proposition be resurrected soon?
According to the Competitive Banking report, the message has been delivered. Real-time rails and mitigating fraud risk are the top two pain points everywhere except APAC, which focuses more on cross-border payments, as you would expect from a region with so many currencies.
Compliance and regulation are much more important in Europe than elsewhere globally in reaction to a plethora of new mandates for Confirmation of Payee, Instant Payments, and the UK’s New Payments Architecture expected update. It’s no surprise then that Europe is the most aware of how compliance and regulation will be more important over the next 12 months. North America tracked second, supporting our belief that the pace of change will not abate.
However, 94% of Europe respondents believe it will be “very” or “somewhat” challenging to remain compliant, well above the global combined view of 88%. Presumably, 11% of European respondents don’t think it will be difficult because they have already started following best practices and pre-empted the implementation in their roadmaps.
ISO 20022 messaging

It seems like all roads, at some point, intersect with ISO 20022 messaging format.
Digital transformation is necessary to reap all the benefits of ISO. ISO 20022 is the linchpin of real-time payments. The functionality and attributes that it adds also correlate with the key expectations that corporates have from their banks – connectivity to real-time rails, improved fraud mitigation and management tools, and access to real-time cash balance, and end-to-end visibility – all interlinked through faster payments, potential fraud, and 24/7/365 cash visibility.
When asked, “Which areas of your company’s cash positioning and fraud monitoring could benefit from the improved data that ISO 20022 provides?”. All regions agreed that improved fraud monitoring and management would reap the biggest benefits of moving from the basics ISO ‘connectivity-only’ to the more data-rich ‘market-ready’ and then through to the optimum status of ISO 20022 ‘native’.
Europe and North America emphasized reducing manual intervention and focusing on straight-through processing.
Looking ahead at 2024
Yes, 2024 will feature busy product roadmaps for financial institutions but expect it to be a year of driving innovation and developing best practices. Institutions can leverage ISO and SaaS to make things easier.
That said, organizations cannot roll out each solve in isolation. They are all interlinked from real-time, cross-border and domestic payments to liquidity management and visibility, fraud mitigation and new pre-validation compliance requirements.
As the report shows, the industry faces common issues with regional subtexts. It’s by addressing the common issues that progress will be made.
The financial institutions that pre-empt both customer and market demand, will drive innovation that surpasses their competitors, leading the herd and becoming the true payment heroes.
Read Bottomline’s “Future of Competitive Advantage in Banking and Payments” full report here. 



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	]]></description><link>https://fintechnews.eu/banking-in-2024-global-challenges-europes-focus-and-innovation-path</link><guid>3440</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Competitive-Banking-Report-Shows-Common-Global-Issues-With-Regional-Differences-1440x564_c.jpg</dc:content ><dc:text>Banking in 2024: Global Challenges, Europe’s Focus, and Innovation Path</dc:text></item><item><title>Virtual Card Spend to Reach $13.8 Trillion Globally by 2028</title><description><![CDATA[
									
					
							
					A new study by Juniper Research found that by 2028, global virtual card spend will have increased by 355% from $3.1 trillion in 2023. The key driver will be the adoption of API-based virtual card issuing platforms.
Virtual cards use randomly generated and generally temporary card numbers linked to a payment account, which are used to process payments; replacing genuine payment details. Virtual cards provide a secure and fast way to distribute funds, while effectively managing spending limits.






API-based virtual card issuing enables cards to be issued in a more seamless and cheaper way, improving efficiency and unlocking greater use cases within B2B and consumer payments.


Stripe, Revolut and Marqeta Lead in Virtual Cards
The new Juniper Research Competitor Leaderboard report reveals that Stripe, Revolut and Marqeta are the established leaders in the virtual cards space. The report identified intuitive, API-based platforms, with easy-to-use functionality to securely deploy cards and manage spending restrictions, as the most important factors in their success.
Daniel Bedford
Research author Daniel Bedford commented:
“Virtual cards offer an adaptable solution that can be heavily customised, including spending limits and restrictions; enabling businesses to significantly improve their spend management, while reducing costs.”
Incentives Driving Adoption
In the highly competitive consumer virtual cards space, Juniper Research recommends that vendors offer loyalty- and rewards-linked cards, to differentiate themselves. Exclusive offers on partner products, rewards points and cashback on specific merchants can successfully encourage virtual card spending and customer retention. This will require virtual card platforms to build out partnership ecosystems, either by partnering directly with merchants, or with existing loyalty services.




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	]]></description><link>https://fintechnews.eu/virtual-card-spend-to-reach-138-trillion-globally-by-2028</link><guid>3441</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Virtual Card Spend to Reach $13.8 Trillion Globally by 2028</dc:text></item><item><title>Fintech for Good: Finyard CEO, Dmitrij Pruglo’s Vision for Positive Impact</title><description><![CDATA[
									
					
							
					Technology has long been a catalyst for positive change. From the printing press increasing literacy, to vaccines eradicating disease, to the internet connecting people across borders, humanity’s inventions have aimed to improve lives.
FinTech is no different. Mobile payments bring financial services to the unbanked. Digital advisors make investing accessible to all. Blockchain allows to transfer monetary values in matter of seconds and digitalize ownership of almost any physical asset. The potential for technology to spread prosperity knows no bounds.
Yet purpose must remain at the core. This is the Finyard mission. Without ethical guidance, technological progress can falter. Profit can eclipse people. Convenience can compromise conscience.
FinTech making a difference
Technology has already fundamentally improved our daily life.

Email allows instant communication across the globe for free, strengthening connections.
Ridesharing services like Uber provide affordable, convenient urban transportation options.
Home rental platforms like Airbnb enable new income streams and foster cultural exchange.
Challenger banks like Revolut simplify money management, saving users time and fees.

These innovations have become so ingrained that it’s hard to imagine a world without them.
Finyard, an innovative software solutions provider, seeks to build on the countless examples of how applications and services are already making a meaningful, tangible difference improving lives across the globe. These existing FinTech solutions inspire Finyard’s vision of positive technological change, including:

Microlending platforms that empower entrepreneurs in developing nations to access capital and grow their businesses. This stimulates economic activity and creates jobs.
Automated advice services that lower the barriers to investing, allowing anyone to grow their wealth, promoting financial inclusivity.
Biometric ID systems that give refugees without documentation access to financial services. This provides stability and safety for vulnerable populations.
Mobile wallets that allow the unbanked to store and transfer funds securely using just their phones, increasing financial access.
Remittance services that enable inexpensive cross-border money transfers, helping support families back home.
Crowdfunding platforms that let socially conscious startups raise capital from a wider pool of investors.
Donation processing systems that provide transparency around how charitable contributions are used, building trust.
Compliance automation tools that help detect financial crimes to prevent money laundering and fraud.

While the FinTech industry already offers uplifting examples of positive technological change, Finyard seeks to leave its own unique and forward-thinking mark on driving human progress.
Pruglo’s vision
Dmitrij Pruglo
Dmitrij Pruglo, CEO of Finyard, understands this delicately balanced dichotomy. For him, FinTech presents a monumental opportunity to lift up humanity. But only if moral imperatives steer the ship.
Pruglo’s motivations stem from experience. Having experience from major financial institutions, he witnessed technology’s benefits firsthand. Transactions became seamless, costs plummeted, access widened.
Technology has seen investing apps evolve. Not only providing low-cost access to major financial markets, but also a wider range of assets, for investors to diversify their portfolios, and help improve returns. Innovation has made emerging markets, previously only accessible to hedge funds and major financial institutions, available to all.
FinTech apps have become more user-friendly, leading to the democratisation of the whole financial system. This has made it easier, even for the least tech-savvy people, to bank or invest, without even having to leave home. No more waiting in queues – technology allows us to save time, the most precious commodity we have.
Then there’s social investing or copy trading, which allow inexperienced users to profit from the global financial markets, simply by relying on the knowledge of more experienced investors, lowering the barrier to entry.
But he also saw how FinTech could do more. How applications could simplify lives beyond finances. How ethics could parallel efficiency.
This sparked an epiphany. Technological innovation and human progress need not be mutually exclusive. With conscientious leadership, FinTech could drive societal change, not just economic returns.
Pruglo realised companies like his possessed immense power – and responsibility. The solutions they created impacted millions. Their words resonated globally. From this privilege came the duty to speak for good.
Thus he vowed Finyard would blaze a trail, showcasing FinTech’s promise to propel humanity forward. Code became more than a competitive edge; it became a change agent.
Leading with purpose
This philosophy now embodies all Finyard pursues. For Pruglo, this constitutes enlightened self-interest. Doing good does well – rising tides lift all ships. But that should not be the incentive. As FinTech gains influence, its leaders must ask, “How can we help?” Progress means little if people are left behind.
Pruglo challenges our industry to live these ideals. To forge technology that serves humankind, not just shareholders. To measure success not by the numbers, but by the lives changed. To believe, as he does, that FinTech can make the world better.
A call to action
The industry must pledge itself to ethical innovation that lifts up lives. To judge success not by balance sheets, but by the light spread. To unleash FinTech’s full promise as a change agent.
FinTech harbours huge potential for human betterment. But only if people remain the priority. If so, a brighter future awaits. Dmitrij Pruglo and Finyard will lead the way. Who will join them?
Learn more at the official Finyard website.


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	]]></description><link>https://fintechnews.eu/fintech-for-good-finyard-ceo-dmitrij-pruglos-vision-for-positive-impact</link><guid>3439</guid><author>Administrator</author><dc:content /><dc:text>Fintech for Good: Finyard CEO, Dmitrij Pruglo’s Vision for Positive Impact</dc:text></item><item><title>New Tenity/Julius Baer Program Picks 3 Swiss Web 3.0 Startups</title><description><![CDATA[
									
					
							
					In a forward-looking initiative, innovation platform Tenity has launched the Julius Baer Global Web 3.0 Program which enables collaboration between the bank and the next generation of web 3.0 startups in the wealth management space across the European and Asia Pacific region.
This integrated program is focused on collaborations, pairing Julius Baer internal teams with startups to bring fresh perspectives and accelerate innovation.
Brigitta Gyoerfi
Brigitta Gyoerfi, Partner Innovation Lead at Tenity, added:






“As Tenity’s partner innovation lead, I emphasize the importance of looking beyond short-term goals and embracing the spirit of experimentation with new technologies. Early exploration is our compass to navigate the ever-changing tech landscape and seize opportunities on the horizon.”
Jonathan Chan
Jonathan Chan, Head of Global Innovation at Julius Baer, added:
“Our partnership with Tenity has provided us with a wealth of experience and unlocked innovative solutions in wealth management. We are committed to working with innovative startups that emerge from the program to transform ideas into impactful implementations within the bank.”
The program included a thorough scouting of the market, singling out Web 3.0 startups geared for the wealth management sector. Following an in-depth assessment phase, the five standout startups were chosen. Currently, in a four-month engagement phase, tailored interactions between these startups and Julius Baer stakeholders focus on identifying key industry use cases and executing targeted experiments.
The following five startups have now been selected for the program:
Frigg | Switzerland

A B2B blockchain-powered platform cutting through layers of intermediaries to streamline sustainable infrastructure financing for institutional investors.
HOPR | Switzerland

Empowering private data transmission with unbreakable privacy, HOPR’s decentralized network, and its data protection solution enable secure and competitive data transmission for the bank, its partners and its clients.
PIER | Switzerland

A cutting-edge wallet platform designed to make using web3 technologies simpler for individuals and businesses, using smart contracts and advanced privacy protection technology.
RociFi Labs | Singapore

Empowering Wealth Management with real-time, on-chain insights through a data and analytics platform, offering actionable information on client portfolios, transaction history, and compliance.
Phuture Finance | United Kingdom

Redefining crypto finance with on-chain index funds and structured products, offering a streamlined way to mint indices using various assets and a transparent, rebalanced methodology.



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	]]></description><link>https://fintechnews.eu/new-tenityjulius-baer-program-picks-3-swiss-web-30-startups</link><guid>3438</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>New Tenity/Julius Baer Program Picks 3 Swiss Web 3.0 Startups</dc:text></item><item><title>Helvetia Enhances Its Online Chatbot with ChatGPT</title><description><![CDATA[
									
					
							
					Helvetia insurance enhances its digital assistant Clara. The pilot project was launched in spring 2023 and provides an easy way for customers to ask questions and describe issues via the Helvetia website.
Now that the trial period is over, Clara is going live with immediate effect as a standard service powered by the latest generative AI technology.
Jan Kundert
Jan Kundert, Head Customer and Market Management and Member of the Executive Management of Helvetia Switzerland:






“We’re delighted that our ChatGPT project has been well received by our customers. Our focus moving forward will be on tailoring what is now Helvetia’s key self-service channel even better to user requirements.”
International pioneering role
Following the successful completion of the test phase, Clara is now going live as a standard service incorporating the latest generative AI technology, further optimizing response quality compared to the previous version. Helvetia thus offers its customers in Switzerland a service that is unique in the insurance sector, providing simple and uncomplicated answers to questions about insurance and pensions around the clock, thereby also playing a pioneering role internationally. It remains exploratory in nature, with users contributing to the learning process. Thanks to user feedback, Clara is constantly being developed further. Customer service can be accessed in German, French, Italian, English and various other languages.
Customers can easily ask a question or describe an issue via the digital assistant Clara. The service is designed to be low-threshold and can be accessed without registration. User numbers since the launch of the trial in spring 2023 show it has been well received. Helvetia predicts it will have handled over 150,000 chats by the end of this year – almost double the figure for last year. In just a short period of time, Clara has thus become Helvetia’s key self-service channel. The chatbot is the perfect addition to the existing customer service offering.

Trust is essential
Trust plays a key role in the relationship between insurers and their customers. This is true whether customer services are offered via conventional or digital channels. Although there are currently still no binding regulations for the industry, Helvetia has decided to go live with its chatbot powered by the latest GPT technology.
Helvetia is aware of the resulting responsibility and only uses artificial intelligence within a controlled framework. The data is managed and processed in accordance with the highest security standards and the new Swiss Data Protection Act (DSG), which came into force on 1 September 2023. For example, users are informed that Clara may also provide incorrect answers because these are generated by artificial intelligence. As Clara only uses verified sources when answering customer questions, the risk of incorrect information is low, but Helvetia recommends contacting the customer advisory service or using alternative contact options if anything is unclear. Users can also rate Clara’s answers and thus help improve the service.
Helvetia has been using artificial intelligence for several years already in areas such as claims processing, identification of fraud, underwriting and marketing. The company actively involves its employees in AI-adoption; for example in the development of self-learning models. Helvetia believes that using artificial intelligence expertly and transparently is crucial in the development of current and future insurance models.


Featured image credit: Helvetia


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	]]></description><link>https://fintechnews.eu/helvetia-enhances-its-online-chatbot-with-chatgpt</link><guid>3437</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Helvetia Enhances Its Online Chatbot with ChatGPT</dc:text></item><item><title>Warum Schweizer Retail-Banken Digital Investing einführen sollten</title><description><![CDATA[
									
					
							
					Investieren wird für Anleger immer einfacher und dank Neobrokern und Fintechs sinken die Einstiegshürden. Dementsprechend beschäftigen sich auch mehr Leute mit dem Thema Geldanlage.
Für etablierte Finanzinstitutionen kann Digital Investing deshalb zu einem wichtigen Bestandteil des Angebots werden.
Digital Investing beschreibt die Nutzung von digitalen Plattformen und Technologien, um Investitionen in unterschiedliche Assets und andere Finanzinstrumente zu tätigen. Dabei erfolgt der gesamte Prozess online – vom Onboarding bis hin zur Auswahl und Verwaltung der Anlagen. So können auch Privatanleger ihr Geld eigenständig und bequem über das Internet investieren, ohne traditionelle Finanzberater oder Bankfilialen. Das alles idealerweise in einem einfach zu nutzenden und ansprechendem Online-Auftritt.
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Es gibt mehrere Gründe, warum beispielsweise Retail-Banken Digital Investing anbieten sollten bzw. ihr Angebot in diesem Bereich erweitern sollten. So legen erstens immer mehr Menschen Geld an. Zweitens wird der Prozess der Geldanlage selbst immer digitaler und der gesamte Investitionsprozess erfolgt online. Aus diesen Gründen ergibt sich drittens ein enormes Marktpotenzial. Viertens sind die Mitbewerber schon aktiv und erobern starke Marktanteile mit ihren Angeboten. So bieten bereits 44 Prozent der Neo-Banken in Europa Anlageprodukte an. Banken sollten dabei nicht tatenlos zusehen, sondern sich einen Teil der Umsätze sichern.
Internet fördert und ermöglicht digitales Anlegen
Privatanleger haben heutzutage über das Internet Zugang zu Expertenwissen, wie es früher nur vermögenden Investoren im Zuge der Kapitalanlageberatung zur Verfügung stand. Zudem ermöglichen Online-Vergleichsportale die unkomplizierte, übersichtliche und schnelle Gegenüberstellung von Angeboten. Gut informierte Anleger agieren also nun auf einem transparenten Markt, auf dem es seit einigen Jahren nicht mehr nur Banken und Finanzdienstleister sind, die die Anlagewelt erklären und gleich auf die passenden Angebote verweisen. Sondern es ist eine ganze Finanzindustrie entstanden. Online-Banking und Online-Brokerage sind längst weit verbreitet, und auch Social Trading, Crowdinvesting und Robo-Advisor etablieren sich immer mehr.
Immer mehr Privatanleger, denen immer mehr einfach zu nutzende Angebote und immer mehr Asset-Klassen zur Verfügung stehen, schaffen ein enormes Marktpotenzial. Laut Statista Market Insights beträgt das weltweite Gesamttransaktionsvolumen im Markt Digital Investment 2023 bereits 3,03 Billionen Euro und wird bis 2027 auf 5,05 Billionen Euro anwachsen.
Wie Retail-Banken von Digital Investing profitieren können
Indem Banken digitales Investieren anbieten, erfüllen sie die Bedürfnisse ihrer Kunden. Zudem richten sie sich für die Zukunft aus, denn Millennials und die jüngeren Generationen haben ein starkes Interesse an digitalen Lösungen und Technologie. Durch digitale Angebote können Banken diese Zielgruppe ansprechen und ihre Kundengewinnung und Kundenbindung verbessern.
Auch das neue, niedrige Preisniveau sollte Banken nicht abschrecken, denn beim Digital Investing profitieren auch sie von der besseren Kosteneffizienz: Automatisierte Prozesse und Algorithmen reduzieren die Notwendigkeit menschlicher Intervention und senken damit die Kosten im Vergleich zu traditionellen Anlageberatungsdienstleistungen. Mit der Automatisierung einher geht eine gute Skalierbarkeit. Banken können mit ihren Dienstleistungen rund um Digital Investing eine größere Anzahl von Kunden bedienen, ohne eine entsprechende Zunahme des Personals.
Und schließlich sind etablierte Banken in einer idealen Ausgangslage: Sie haben bereits die Präsenz, Markenbekanntheit und die Kundenkontakte, um ihre Angebote auf dem Markt erfolgreich zu platzieren.
Schnelle Einführung von Digital Investing dank End-to-End Lösungen von Partnern
Es gibt viele Gründe, sein Digital-Investing-Angebot mit Hilfe eines Partners aufzubauen oder weiterzuentwickeln. Das stärkste Argument dafür ist die Zeitersparnis. Durch die Zusammenarbeit mit einem Partner erhalten Banken fertige Produkte, Hilfe bei der Integration in ihre IT-Landschaft und eine fertige Benutzeroberfläche für die Kunden, die nur noch an das Customer Interface der Bank angepasst werden muss. Dieser Ansatz führt dazu, dass das Digital-Investing-Angebot schneller ausgerollt werden kann.
Auch sind die Kosten viel besser kalkulierbar als bei einer Eigenentwicklung, und das Risiko ist überschaubarer. Banken bekommen zudem über einen Partner Zugang zu Expertise und Technologie. Banken können so von bewährten Best Practices und modernen Tools profitieren, ohne eigene Ressourcen für deren Entwicklung und Implementierung aufwenden zu müssen. Die regulatorische Compliance spricht ebenfalls für Partner. Denn schließlich haben die Partner die Regularien schon bei ihrer Produktentwicklung miteinbezogen – ansonsten hätten sie keine Chance, ihre Lösungen bei Banken zu platzieren.
Vorteile eines Partners am Beispiel eines Robo-Advisors
Die Gründe, warum eine Bank ihr Digital-Investing-Angebot mit Hilfe eines Partners gestalten sollte, lassen sich gut illustrieren, wenn es speziell um Robo-Advisor geht: Die Entwicklung eines eigenen Robo-Advisors ist ein zeitaufwändiger Prozess, der leicht mehrere Jahre dauern kann. In dieser Zeit sind viele Ressourcen gebunden und stehen nicht für andere Projekte zur Verfügung. Zum Vergleich: Mit einem Partner lässt sich ein sofort einsatzbereiter Robo-Advisor innerhalb von drei Monaten launchen.
Die Entwicklung eines eigenen Robo-Advisors ist außerdem sehr kostspielig. Banken müssen die kompletten Kosten für die Softwareentwicklung und -weiterentwicklung allein tragen. Wenn Banken dagegen einen Robo-Advisor von einem Partner beziehen, zahlen sie nur für den Service. Das bedeutet erstens Opex statt Capex und ist zweitens günstiger als eine Eigenentwicklung.
Hinzu kommt, dass die Entwicklung und Weiterentwicklung eines eigenen Robo-Advisors ein hohes Maß an Fachwissen in den Bereichen Softwareentwicklung, Finanzen und Risikomanagement erfordert. Viele Banken verfügen nicht über (genug) Experten, um (schnell) einen eigenen Robo-Advisor zu entwickeln und dauerhaft weiterentwickeln zu können. Durch einen Partner lösen Banken diese Herausforderung, indem sie sich Zugang zur Expertise des Partners sichern. Der Partner investiert zudem kontinuierlich in Innovationen und Verbesserungen seines Robo-Advisors. Durch die Partnerschaft stehen Banken also immer die neuesten Funktionen und Technologien zur Verfügung, die ihren Kunden ein erstklassiges digitales Anlageerlebnis bieten.
Eine zentrale Rolle im Leben der Kunden
Banken stehen vor der Herausforderung, schnell, kosteneffizient und möglichst risikoarm Digital-Investing-Angebote aufzubauen bzw. weiterzuentwickeln, sie mit einer ansprechenden UX zu den Verbrauchern zu transportieren und so den Angeboten der Wettbewerber etwas entgegenzusetzen. Banken könnten das natürlich selbst entwickeln – doch wenn sie sich dafür mit spezialisierten Anbietern zusammenschließen, hat das etliche Vorteile, wie z.B. eine geringere Time to Market, kalkulierbare Kosten und ein geringeres Risiko.
Wenn Banken ihren Kunden Digital Investing über eine exzellente digitale Nutzererfahrung ermöglichen, profitieren sie einerseits von den Gebühren, andererseits auch von einer besseren Kundenbindung: Wer sein Girokonto, sein Tagesgeldkonto und seine Anlage-Produkte bei seiner Bank hat, bleibt ihr eher treu. Die Bank nimmt so eine zentrale Rolle im Leben ihrer Kunden ein.


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						Caroline von Mutius, Account Executive bei Backbase&#13;
					
					
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								Caroline von Mutius ist Account Executive bei Backbase, dem Anbieter der Engagement-Banking-Plattform. In dieser Funktion berät sie große und mittelgroße Bankengruppen in Deutschland und der Schweiz, wie sie ihre digitalen Ambitionen in die Tat umsetzen können. Caroline ist seit 2021 bei Backbase tätig. Sie verfügt über fundierte Erfahrungen im kundenorientierten Relationship Management, in der Optimierung von Prozessen sowie im Projekt- und Transformationsmanagement und im Bankensektor. Bevor sie zu Backbase kam, arbeitete sie für die Privatbank ODDO BHF und für ein Fintech der Helaba.							&#13;
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					More by Caroline von Mutius, Account Executive bei Backbase
				
			
		]]></description><link>https://fintechnews.eu/warum-schweizer-retail-banken-digital-investing-einfuhren-sollten</link><guid>3436</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Wie-Retail-Banken-Digital-Investing.jpg</dc:content ><dc:text>Warum Schweizer Retail-Banken Digital Investing einführen sollten</dc:text></item><item><title>BBVA Switzerland Extends Digital Asset Partnership With Metaco</title><description><![CDATA[
									
					
							
					BBVA in Switzerland has successfully migrated its digital assets operations to Metaco’s institutional-grade digital asset custody and orchestration platform, Harmonize which is fully integrated on Avaloq’s Crypto Assets platform and Core Banking system. This infrastructure will allow BBVA to further develop its digital asset and private key custody capabilities.
This new development will have a positive impact on security policies, especially for the institutional client, who will have much greater flexibility in their operations with digital assets. BBVA in Switzerland has become a key player in the institutional network in the blockchain ecosystem. In 2021, the Bank became the first TIER 1 Bank in the Eurozone to provide custody and trading services for cryptocurrencies, under a combined portfolio across traditional and digital assets. Since that time, the Bank has not only been working on improving its blockchain services, but also on its commitment to provide financial education in this area to its clients.
Avaloq and Metaco work in close collaboration to deploy and develop the bank’s innovative digital assets offering in a software as a service (SaaS) model. This latest upgrade will also support future business use cases for BBVA in the realm of digital assets.






Alfonso Gómez
Alfonso Gómez, CEO of BBVA in Switzerland, highlights that
“our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most secure and compliant infrastructure”.
This collaboration will provide more speed, efficiency and the highest standard of governance as the Bank accelerates digital assets offerings for its institutional clients.

Adrien Treccani
“Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights,”
says Adrien Treccani, Founder and Chief Executive Officer at Metaco.
With this deployment, the Bank expands its partnership with its technological partners Metaco and Avaloq, as both of them deepen their collaboration on digital asset custody capabilities.


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		]]></description><link>https://fintechnews.eu/bbva-switzerland-extends-digital-asset-partnership-with-metaco</link><guid>3435</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>BBVA Switzerland Extends Digital Asset Partnership With Metaco</dc:text></item><item><title>Radicant’s neuer CEO kommt von Twint</title><description><![CDATA[
									
					
							
					Der Verwaltungsrat der radicant bank ernennt Anton Stadelmann per 1. Januar 2024 zum neuen CEO. Die bisherigen Co-CEOs ad interim Roland Kläy und Rouven Leuener übernehmen wieder ihre angestammten Funktionen innerhalb der Bank.
Der 40-jährige Anton Stadelmann war zuletzt CEO der Bluecode Gruppe. Davor hat er als Deputy CEO von TWINT den mobilen Bezahldienst zur Marktführerschaft geführt. Zuvor war er unter anderem als Mitgründer und Chairman der European Mobile Payment Systems Association sowie in verschiedenen Positionen bei der UBS auch ausserhalb der Schweiz tätig.
Marco Primavesi
«Mit Anton Stadelmann gewinnen wir eine erfahrene Persönlichkeit, die unserer nachhaltigen und digitalen Bank auf dem Weg zur festen Grösse im Schweizer Markt zu weiterem Wachstum verhelfen wird»,
sagt Marco Primavesi, Verwaltungsrats-präsident der radicant, und fügt an:






«Ich danke Roland Kläy und Rouven Leuener, dass sie in den letzten Monaten als Co-CEOs die radicant bank ag mit hohem Engagement, taktischem Geschick und Leadership interimistisch durch eine wichtige Phase geführt haben. In dieser Zeit gestalteten sie gemeinsam mit dem Team erfolgreich den breiten Markteintritt der radicant bank ag und übertrafen bereits wenige Monate später die internen Ziele für die Gewinnung von Neukundinnen und -kunden im Jahr 2023. Ich freue mich auf die weitere Zusammenarbeit.»
Anton Stadelmann
Anton Stadelmann, der designierte radicant-CEO sagt dazu&gt;
«Ich freue mich sehr darauf, gemeinsam mit dem radicant-Team an die bisherigen Erfolge anzuknüpfen und noch mehr Kundinnen und Kunden für radicant zu begeistern.»
Mit dem Erhalt der Banklizenz 2022 und der vollständigen Marktöffnung im August 2023 ermöglicht radicant ihren Kundinnen und Kunden ein nachhaltiges Bankangebot.


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		]]></description><link>https://fintechnews.eu/radicants-neuer-ceo-kommt-von-twint</link><guid>3434</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/Startup-Competition-venture.gif</dc:content ><dc:text>Radicant’s neuer CEO kommt von Twint</dc:text></item><item><title>Kanton Zürich platziert erste digitale Anleihe</title><description><![CDATA[
									
					
							
					Der Kanton Zürich hat heute seine erste Anleihe emittiert, die mit digitalem Zentralbankgeld auf der regulierten Plattform der SIX Digital Exchange (SDX) abgewickelt werden kann.
Die Emission fand im Rahmen des Pilotbetriebs der Schweizerischen Nationalbank mit digitalem Zentralbankgeld für Finanzinstitute statt.
Bei der digitalen Anleihe über 100 Mio. Franken mit einer Laufzeit von 11 Jahren und einem Coupon von 1,45 Prozent handelt es sich um eine teilweise Refinanzierung einer auslaufenden Anleihe. Das Joint Lead Management wurde durch die Zürcher Kantonalbank, UBS und Raiffeisen Schweiz wahrgenommen.


   




Der Kanton Zürich unterstützt mit der Platzierung die Entwicklung innovativer Finanzmarktinfrastrukturen in der Schweiz.
Ernst Stocker
«Wir bieten Hand für die Erprobung digitaler Produkte und wollen auch selbst Erfahrungen sammeln»,
sagt Finanzdirektor Ernst Stocker. Die Digitalisierung bildet einen strategischen Schwerpunkt des Regierungsrats des Kantons Zürich.
Einen Tag zuvor hatte auch der Kanton Basel Stadt im selben Rahmen eine digital Anleihe via BKB emittiert.


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		]]></description><link>https://fintechnews.eu/kanton-zurich-platziert-erste-digitale-anleihe</link><guid>3432</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Kanton Zürich platziert erste digitale Anleihe</dc:text></item><item><title>BitMEX Engages Zühlke to Transition Security Operations</title><description><![CDATA[
									
					
							
					Crypto Derivates Platform BitMEX recently collaborated with Zühlke to enhance their application security program. This partnership focused on refining BitMEX’s security operations and prioritizing new application functionalities, with a particular emphasis on integrating DevSecOps processes across their development pipeline.
The initiative was driven by the need to adapt to the changing security landscape and the fast pace of software development. BitMEX, known for its stringent security measures and having never lost cryptocurrency assets, recognized the necessity of updating their security testing methods.
Zühlke’s role was significant in helping BitMEX transition from ad-hoc security testing to a systematic DevSecOps model within 12 months. They assisted in implementing integrated security testing processes, training developers in secure coding practices, and establishing a secure, functional CI/CD pipeline.


   




The collaboration’s objectives also included introducing comprehensive application security testing and a “shift-left” approach in security testing. This approach aimed to incorporate security considerations early in the software development life cycle.
Another aspect of the partnership involved deploying asset security controls and adopting configuration-as-code, which enabled BitMEX to prioritize threats and consistently monitor for suspicious activities.
Florian-Alexandre Bielak
The project aimed to balance maintaining high security with supporting rapid software development. Florian-Alexandre Bielak, Chief Information Security Officer at BitMEX, noted the importance of the right team and processes in strengthening their security ecosystem.
“With the right people, a refined set of processes and a selection of consolidated security tools as the linchpin, BitMEX was able to construct a stronghold that amplifies the effectiveness of our overall security ecosystem,”
said Florian-Alexandre.
This cultural shift empowered BitMEX to move away from a “click-ops” model, where governing change controls becomes more manageable as complexity grows.
Kaushal Silva Ranpatabendige, the Lead Engagement Manager at Zühlke, also pointed out the shared culture of empowerment and collective success between the two companies.
Kaushal Silva Ranpatabendige
“The culture at BitMEX is one very similar to Zühlke. We are a team that is empowered to speak up with courage, challenge and be challenged, and always put the success of the entire organisation first,”
went on Kaushal.
Overall, the partnership between BitMEX and Zühlke marked a notable shift for BitMEX in enhancing its security measures and development processes in just over 12 months, aligning with the evolving demands of the cryptocurrency market and security standards.


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	]]></description><link>https://fintechnews.eu/bitmex-engages-zuhlke-to-transition-security-operations</link><guid>3433</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>BitMEX Engages Zühlke to Transition Security Operations</dc:text></item><item><title>Top 10 Fintech and Payments Trends in 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 21, 2023
																				





					
					
							
					Juniper Research unveiled the 10 trends that are set to radically impact the fintech and payments landscape in 2024, included within its latest whitepaper.
The study found that the fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A (Account-to-Account) payments having a major impact on business models. This is combined with unprecedented competition to be ‘top of wallet’ for customers, making the market more competitive and uncertain than ever.
Top 10 Fintech and  Payments Trends 2024
The trends are as follows:


   




1. A2A Payments to Challenge Cards in eCommerce and for Funding Wallets


2. CBDC Use Cases to Emerge in Practice

3. Generative AI in Banking to Transform Spending Insights

4. Digital Identity Adoption to Be Catalysed by Digital Wallet Integration

5. AML Tools to Better Leverage AI as Alternative Payments Complicate Compliance

6. Sustainable Fintech Solutions to Emerge, as ESG Compliance Tops Agenda

7. FedNow to Fail to Match Instant Payments Success, but VAS to Flourish

8. Mobile Financial Services to Accelerate Transition to Banking Tech Services

9. Biometric In-store Payments to Surge, as Checkout Innovation Rises
image via freepik
10.. B2B BNPL to Provide Critical Financing for SMEs


Featured image credit: edited from freepik


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		]]></description><link>https://fintechnews.eu/top-10-fintech-and-payments-trends-in-2024</link><guid>3431</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Juniper-Research-Releases-its-Top-10-Fintech-Payments-Trends-for-2024-Amidst-Unprecedented-Technological-Shifts-1440x564_c.jpg</dc:content ><dc:text>Top 10 Fintech and Payments Trends in 2024</dc:text></item><item><title>Eine digitale Schweizer Franken Anleihe für den Kanton Basel Stadt</title><description><![CDATA[
									
					
							
					
Die BKB arbeitet im Pilotprojekt «Helvetia III» der Schweizerischen Nationalbank (SNB) mit der SIX Digital Exchange (SDX) und fünf weiteren Geschäftsbanken zusammen. Die auf der Distributed-Ledger-Technologie (DLT) basierende Infrastruktur der SDX ermöglicht die Emission und den Handel von tokenisierten Wertschriften.
Im Rahmen dieses Pilotprojekts gibt die SNB erstmals digitales Zentralbankgeld für Finanzinstitute (sog. wholesale Central Bank Digital Currency, wCBDC) auf dieser Infrastruktur aus. Dabei handelt es sich um eines der weltweit ersten Pilotprojekte zur Abwicklung realer Transaktionen in digitalem Zentralbankgeld.


   




Die digitale Schweizer-Franken-Anleihe des Kantons Basel-Stadt, die über die BKB emittiert wurde, kann mit digitalem Schweizer Franken erworben werden. Damit beteiligt sich die BKB an einem strategischen Innovationsvorhaben des Schweizer Finanzplatzes und erweitert ihr Angebot an Finanzierungsinstrumenten. Die Anleihe nutzt die Fortschritte der Digitalisierung bzw. der DLT, verbleibt aber im regulierten Finanzsystem. Diese Kombination ermöglicht es sowohl Investoren als auch Emittenten, das Potential der Digitalisierung zu nutzen, ohne Abstriche bei Sicherheit und Vertrauen zu machen.
Basil Heeb
Basil Heeb, CEO der BKB, sagt dazu:
«Wir sind stolz darauf, als Lead Manager diese wegweisende Transaktion zu begleiten. Die Bank verfügt über langjährige Erfahrung und einen herausragenden Leistungsausweis im Emissionsgeschäft, was sie zur idealen Partnerin für die erstmalige Emission einer digitalen Anleihe des Kantons Basel-Stadt macht. Die erfolgreiche Emission einer digitalen Schweizer-Franken-Anleihe ist ein weiterer Beleg dafür, dass die Basler Kantonalbank ihren Kunden innovative und zukunftsweisende Finanzlösungen anbietet.»


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		]]></description><link>https://fintechnews.eu/eine-digitale-schweizer-franken-anleihe-fur-den-kanton-basel-stadt</link><guid>3430</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Eine digitale Schweizer Franken Anleihe für den Kanton Basel Stadt</dc:text></item><item><title>UBS’ Roboadvisor Wealthfront Announces $50 Billion AUM Milestone</title><description><![CDATA[
									
					
							
					Wealthfront, a leading robo-advisor industry, announced that the company now oversees more than $50 billion in assets for over 700,000 clients, largely young professionals across the United States.
This year Wealthfront’s team introduced new product lines, leading to an increase in new clients, a higher share of wallet among existing clients, and additional revenue diversity for the business. Wealthfront’s business is profitable and generates significant cash flow from operations, with EBITDA margins above 40%. The company is on track to grow revenue by over 140% in 2023.
David Fortunato
“This milestone is a testament to our team’s relentless focus on creating value for our clients and our commitment to building a profitable company that puts clients’ interests above our bottom line,”
said David Fortunato, CEO of Wealthfront.


   




“Our focus on automation allows us to deliver more value to the client, and we look forward to continuing this work.”
Wealthfront’s mission to build a financial system that favors people, not institutions, drives the team to create immense value for its clients. The company estimates that the service has saved clients over $1 billion in advisory fees compared to a traditional advisor, who, on average, charges a 1% management fee. Furthermore, this year alone, Wealthfront Cash Account clients have earned nearly $700 million in interest. Wealthfront is able to offer clients a 5.00% APY and up to $8 million in FDIC insurance through its partnerships with over 35 banks.
Wealthfront pioneered the robo-advisory industry with the launch of its automated investment service in 2011. Today, nearly every major investment adviser or brokerage firm has attempted to copy the first version of Wealthfront’s automated investment service. In the meantime, the company has continued to innovate, democratizing access to investing along the way and building a trusted financial services company. Through Wealthfront, young professionals in the U.S. can open an investment account with just $500 and access services like those previously only available to institutional investors or those who could afford account minimums that often exceeded $5 million.
Wealthfront has expanded into new areas like cash management, lending, and, most recently, lower-risk investments with its Automated Bond Portfolio. The company is well-positioned to capture the $35 trillion held by young professionals and will continue to address their diverse financial needs. Hitting this milestone only deepens Wealthfront’s dedication to empowering young professionals to achieve their financial goals and shaping the future of personal finance.
UBS Acquired  US based robo-advisor Wealthfront for 1.4 Billion USD in January 2022.
Featured image credit:  David Fortunato, CEO of Wealthfront


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	]]></description><link>https://fintechnews.eu/ubs-roboadvisor-wealthfront-announces-50-billion-aum-milestone</link><guid>3429</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>UBS’ Roboadvisor Wealthfront Announces $50 Billion AUM Milestone</dc:text></item><item><title>Swiss Digital Asset Company Taurus Expands to Dubai</title><description><![CDATA[
									
					
							
					Taurus, a Swiss fintech company regulated by FINMA in Switzerland, has recently announced its expansion into the Middle East with a new office located in Dubai.
The company, known for providing institutional-grade digital asset infrastructure, has chosen Dubai for its new United Arab Emirates (UAE) office, situated in the Dubai International Financial Centre (DIFC).
The Dubai office will be led by Managing Director Bashir Kazour, a seasoned professional with over two decades of experience in retail, capital markets, and technology. Kazour’s extensive background includes roles at the Royal Bank of Canada, Standard Chartered, and FIS, a prominent banking and payment technology provider.


   




His previous work has involved close collaboration with a diverse range of clients, from sovereign wealth funds and central banks to brokers and family offices.
Bashir Kazour
“I am excited to lead Taurus‘ efforts and build a winning franchise in the Middle East, a region known for its rapid adoption of blockchain technology and digital assets,”
acknowledged Bashir.
“Taurus is well-known for its unique custody and tokenization capabilities serving banking clients and large enterprises, which aligns perfectly with the needs of the region. We’ve already started interacting closely with  regulators, central banks, and clients. and I’m looking forward to delivering cutting-edge and compliant solutions to the market.”
Taurus decision to expand into Dubai aligns with the UAE’s recent efforts to create a more defined regulatory environment for digital assets. Key developments in the region include the establishment of the Virtual Assets Regulatory Authority (VARA) in Dubai and other significant initiatives focusing on digital assets and innovation, such as ADGM and RAK DAO.
Taurus SA’s recent expansion into Dubai comes after establishing a presence in Europe. In Switzerland, it has gained a significant market share in the digital asset infrastructure sector, catering primarily to banks and corporates.
The company has also formed partnerships, notably with Deutsche Bank and CACEIS, a global custodian. Furthermore, Taurus completed a Series B funding round in February, securing US$65 million with contributions from several investors, including Arab Bank Switzerland, Credit Suisse, and Pictet.

This article first appeared on fintechnews.ae
Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/swiss-digital-asset-company-taurus-expands-to-dubai</link><guid>3428</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Swiss Digital Asset Company Taurus Expands to Dubai</dc:text></item><item><title>Central Bank Money Fintech Raises £77.7M in Series B from Banks and Clearing Houses</title><description><![CDATA[
									
					
							
					Fnality – a UK based fintech bringing together the safety and institutional quality of central bank money with the innovative functionality and resilience of blockchain technology – announced a £77.7m Series B funding round.
This was led by Goldman Sachs and BNP Paribas, with participation from DTCC, Euroclear, Nomura and WisdomTree. There were also additional investments from Series A investors Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS.
The culmination of this latest round brings Fnality‘s total capital raised to £132.7m as it readies for the commencement of initial Sterling Fnality Payment System (£FnPS) operations in 2023, subject to regulatory approval.


   




Fnality’s latest funding will be utilised to continue progress towards the establishment of a world-first global liquidity management ecosystem that empowers new digital payment models in both wholesale financial markets and emerging tokenised asset markets.
This encompasses key milestones such as FnPS launches in key currencies including USD, strong ecosystem and network growth, and a compelling suite of use cases that will transform payments, settlement, and collateral management in global markets.
Several landmark proofs of concept have already demonstrated many of these capabilities, including for real-time settlement of tokenised securities, real-time cross-border FX swaps, and real-time repo transactions, each of which evidences the potential inherent in leveraging distributed ledger technology (DLT) to facilitate traditional financial activity and achieve faster, safer and more efficient exchange of value in global wholesale markets.
The successful execution of such activity will result in the mutually beneficial use of innovative technology to streamline processes, reduce costs, and ensure regulatory compliance while offering new products and access to new markets. As a growing industry-backed consortium with both substantial digital assets pedigree and longstanding engagement with key central banks and regulators, Fnality is well placed to sit at the intersection of these converging markets, empowering both sides in the process.
Rhomaios Ram
Rhomaios Ram, CEO of Fnality International, comments:
“Our Series B funding round represents the financial sector’s desire for a central bank money backed blockchain-based settlement solution that bridges the gap between traditional finance (TradFi) and decentralised finance (DeFi) in wholesale markets. Each Fnality Payment System utilises DLT to provide a 24/7 payment rail with the ability to reduce settlement cycles to real-time, while significantly improving intraday liquidity management and marking significant innovation in the speed, functionality, and resilience of wholesale payments.”
Broadhaven acted as financial advisor to the round, and Sullivan &amp; Cromwell acted as legal counsel.

Featured image credit: Rhomaios Ram, CEO of Fnality International


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	]]></description><link>https://fintechnews.eu/central-bank-money-fintech-raises-777m-in-series-b-from-banks-and-clearing-houses</link><guid>3427</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Central Bank Money Fintech Raises £77.7M in Series B from Banks and Clearing Houses</dc:text></item><item><title>Commerzbank Granted Crypto Custody Licence</title><description><![CDATA[
									
					
							
					Commerzbank is the first German full-service bank to be granted the Crypto Custody Licence pursuant to Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG). The licence will enable the Bank to build up a broad range of digital asset services, with particular emphasis on crypto assets.
The first step by the Bank is to establish a secure and reliable platform with full regulatory compliance to support its institutional clients by providing custody for crypto assets based on blockchain technology.
Jörg Oliveri del Castillo-Schulz
“Now that we have been granted the licence, we have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,”
commented Dr Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank.


   






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		]]></description><link>https://fintechnews.eu/commerzbank-granted-crypto-custody-licence</link><guid>3426</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Commerzbank Granted Crypto Custody Licence</dc:text></item><item><title>Reports Look at FTX’s 2021 Pitch Deck, Highlighting its Successful Fundraising Strategy</title><description><![CDATA[
									
					
							
					Earlier this month, Sam Bankman-Fried, the founder of defunct cryptocurrency exchange FTX, was found guilty for his role in the collapse of the company. The disgraced founder, who once ran one of the world’s biggest crypto exchanges, is now facing a maximum sentence of 115 years in prison.
A New York jury found Bankman-Fried guilty on all seven charges against him, convicting Bankman-Fried of wire fraud and conspiracy to commit wire fraud against FTX customers and against lenders of its sister hedge fund Alameda Research.
The verdict, delivered on November 02, concludes a stunning fall from grace for the former billionaire, once known as the “crypto king”.


   




Bankman-Fried was arrested in December 2022 after his crypto exchange FTX went belly up. The spectacular collapse was caused by a spike in customer withdrawals that exposed a US$8 billion hole in the crypto exchange’s accounts.
Prior to its collapse, FTX was among the world’s biggest crypto exchanges by volume and had over one million users. The company, which was at one point valued at a breathtaking US$32 billion, was also incredibly successful in fundraising, having managed to secure about US$1.8 billion from blue-chip investors including Sequoia, Tiger Global, Softbank and Lightspeed Venture Partners.
Several analyses of FTX’s infamous 2021 pitch deck have been formulated and released. These analyses take a close look at the document that was presumably used to raise FTX’s staggering US$1 billion Series B of that same year, highlighting that despite the startup’s subsequent challenges, the company achieved what only a few had.
The reports all argue that the pitch deck’s unique elements, including its clear vision, numerical traction and distinctive approach to competition, contributed to FTX’s ability to attract funding from prestigious investors. The document offers up-and-coming entrepreneurs with valuable insights into successful fundraising strategies.
FTX’s 2021 pitch deck analysis
Looking at each key slide, the analyses note that the presentation starts with an “overview” slide which highlights FTX’s vision and notable accomplishments, including being the “fourth-largest crypto exchange” and the “fastest-growing crypto exchange in the world by volume”. It also provides a minimalist timeline showcasing the company’s impressive growth story.
Overview slide, Source: FTX Series B pitch deck
The “overview” slide is followed by a slide presenting FTX’s growth potential and which emphasizes how crypto exchanges can become bigger than their counterparts in traditional finance.
Potential slide, Source: FTX Series B pitch deck
The following slides showcase key numerical milestones and metrics that demonstrate FTX’s success to-date. They include multiple slides emphasizing the growth in trading volume, claiming a 72.5x increase between the start of 2020 and May 2021, as well as 2019’s numbers to offer further reference for the startup’s growth trajectory.
Traction slide, Source: FTX Series B pitch deck
Traction slide 2, Source: FTX Series B pitch deck
The slides also include a comparison with rivals, which, unlike traditional growth and competition slides, emphasize quantitative growth rather than qualitative comparisons. These slides focus solely on how FTX outpaces the growth of its competitors, demonstrating how it grew faster than virtually any other exchange, including Binance, Coinbase and Kraken. These slides maintain a clean and minimalist design to highlight the numerical data, the reports highlight.
FTX growth compared to competitors, Source: FTX Series B pitch deck
The growth and competition slides are followed by a presentation of FTX’s product offering, which, at the time, included futures, spot, leveraged tokens, over the counter (OTC) trading, spot margin trading and peer-to-peer lending, and tokenized stocks.
FTX’s product offering, Source: FTX Series B pitch deck
The following slides then present FTX’s growth strategy, sharing the new products in the pipeline. They also highlight how the startup is able to work with regulators to ensure compliance and present the members of the top management team.
FTX new products and growth strategy, Source: FTX Series B pitch deck
FTX team members, Source: FTX Series B pitch deck
Finally, the closing slide concludes the growth story by showing FTX’s end goal. This slide is unique as it takes an emotional angle, stating that FTX’s goal is to “leave the world a better place than we inherited it,” and noting that “1% of all net revenues are donated to the world’s effective charities.”
Closing slide, Source: FTX Series B pitch deck
The crypto industry has had a tough two-year period, with market capitalization plummeting from an all-time high of US$3 trillion in November 2021 to as low as US$800 billion in December 2022.
2022 was a particularly challenging year that was marked by a series of industry meltdowns that sent bitcoin crashing to its lowest price since 2020. Besides FTX, crypto companies that failed last year include Terraform Labs, Celsius Network, Voyager Digital and Three Arrows Capital.
But over the past couple of weeks, the market has started to bounce back, with bitcoin rising by about 37% over the past month, growing from US$27K in mid-October to now US$37K. The ongoing rally is being spurred by the prospect of new spot crypto exchange-traded funds.


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	]]></description><link>https://fintechnews.eu/reports-look-at-ftxs-2021-pitch-deck-highlighting-its-successful-fundraising-strategy</link><guid>3425</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Reports Look at FTX’s 2021 Pitch Deck, Highlighting its Successful Fundraising Strategy</dc:text></item><item><title>New Country Manager in Germany for Truelayer Joins from Payoneer</title><description><![CDATA[
									
					
							
					TrueLayer, the European open banking payments network, has appointed Sebastian Vetter as Country Manager to lead the company’s push in Germany as the market matures for open banking payments.
Before joining, Sebastian was at Payoneer where he led the go-to-market activities for SMEs in Germany, Austria and Switzerland, with a focus on import/export businesses in manufacturing and ecommerce, marketplace sellers and professional service providers.
Prior to this, Sebastian was at Mangopay for over 6 years. He first established the DACH region in 2016, where he and his team grew transaction volumes from €10 million to over €500 million in just 3 years. He then went on to help launch local offices in the Netherlands, Nordics and Poland, overseeing the further growth, localisation and alignment of these markets under a new North-Eastern EU region.


   




This news comes off the back of growth for TrueLayer in Germany, with total payments volumes doubling year on year since 2021. TrueLayer has also recently stated that their Payouts product has reached a 99.3% success rate in the country, along with a coverage of over 93% for instant payments.
Sebastian joins at a very exciting time for EU payments, with regulatory changes afoot in PSD3. At the same time, a commercial space is emerging via the SEPA Payment Account Access scheme, which will bring open banking-based A2A payments to European ecommerce.
Sebastian Vetter
Sebastian Vetter, Country Manager Germany, at TrueLayer, said:
“It’s truly a perfect time to join TrueLayer given their strong momentum in transaction volume and conversion growth and an increasing appetite for open banking/finance services within Germany and Europe as a whole. We have experienced a significant shift in the banking sector’s perception and adoption of open banking over the last few years, and consumers are becoming more and more aware of the benefits they will be able to reap from it.
I am thrilled to start working alongside an incredibly talented international team to deliver innovative value for both consumers and merchants on a path to a more secure, standardised and open future of payments.”
Max Emilson
Commenting, Max Emilson, Chief Commercial Officer, at TrueLayer, said:
“I’m extremely excited to welcome Sebastian to the TrueLayer team. His track record of seriously scaling commercials in the region, while at the same time localising payment product offerings is unmatched. With the way things are shaping up for open banking payments in Germany, this is going to be invaluable for us as we continue to grow adoption in the region!”


Featured image credit: Sebastian Vetter, Country Manager Germany, at TrueLayer


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	]]></description><link>https://fintechnews.eu/new-country-manager-in-germany-for-truelayer-joins-from-payoneer</link><guid>3423</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>New Country Manager in Germany for Truelayer Joins from Payoneer</dc:text></item><item><title>Sebastian Vetter Exits Payoneer, Joins Truelayer as Germany Country Manager</title><description><![CDATA[
									
					
							
					TrueLayer, a prominent player in Europe’s open banking payments sector, has recently appointed Sebastian Vetter as its new Country Manager for Germany. This strategic move aims to strengthen TrueLayer’s presence in the German market, which is increasingly adopting open banking payments.
Sebastian Vetter brings a strong background to his new role at TrueLayer. He previously worked at Payoneer, where he led the go-to-market strategies for SMEs in Germany, Austria, and Switzerland, focusing on a range of sectors including import/export, ecommerce, and professional services. His experience at Mangopay is also notable, where he significantly increased transaction volumes in the DACH region and contributed to the company’s expansion in the Netherlands, Nordics, and Poland.
This appointment coincides with a period of growth for TrueLayer in Germany, highlighted by a consistent year-on-year doubling of total payments volumes since 2021. The company’s Payouts product has also achieved a high success rate and extensive coverage for instant payments in the country.


   




Sebastian’s arrival at TrueLayer is timely, considering the evolving EU payments landscape with upcoming regulatory changes in PSD3 and the introduction of the SEPA Payment Account Access scheme. This scheme is expected to influence the future of open banking-based A2A payments in European ecommerce.
Sebastian Vetter
Sebastian agreed that he was joining TrueLayer as the Country Manager at the right time, as the company increases its push in Germany.
“It’s truly a perfect time to join TrueLayer given their strong momentum in transaction volume and conversion growth and an increasing appetite for open banking/finance services within Germany and Europe as a whole. We have experienced a significant shift in the banking sector’s perception and adoption of open banking over the last few years, and consumers are becoming more and more aware of the benefits they will be able to reap from it.
I am thrilled to start working alongside an incredibly talented international team to deliver innovative value for both consumers and merchants on a path to a more secure, standardised and open future of payments,”
he said.
Max Emilson
Max Emilson, Chief Commercial Officer at TrueLayer, welcomed Sebastian to the team, saying,
“I’m extremely excited to welcome Sebastian to the TrueLayer team. His track record of seriously scaling commercials in the region, while at the same time localising payment product offerings is unmatched. With the way things are shaping up for open banking payments in Germany, this is going to be invaluable for us as we continue to grow adoption in the region!”


Featured image credit: Sebastian Vetter, Country Manager Germany, at TrueLayer


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	]]></description><link>https://fintechnews.eu/sebastian-vetter-exits-payoneer-joins-truelayer-as-germany-country-manager</link><guid>3424</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Sebastian Vetter Exits Payoneer, Joins Truelayer as Germany Country Manager</dc:text></item><item><title>Digital Euro Project Moves to Preparation Phase</title><description><![CDATA[
									
					
							
					Europe’s digital euro project is moving to its next stage of development and entering the preparation phase.
This new phase will seek to establish the foundations for the potential issuance of a central bank digital currency (CBDC) with works to include finalizing the rulebook, and selecting providers to develop the platform and infrastructure, the Governing Council of the European Central Bank (ECB), announced on October 18, 2023.
The preparation phase, which started on November 01, 2023, will initially last two years and will lay the groundwork for the potential creation of a digital version of the euro. The stage will include drafting regulations, standards and procedures for the digital euro, as well as choosing the providers in charge of developing the technology. It will also include the testing and experimentation of the CBCD.


   




Improved efficiency and increased innovation
The Eurosystem, the monetary authority of the eurozone comprising the ECB and the central banks of the member states part of the euro area, has been working on the digital euro project since 2021.
Although the initiative has so far remained rather investigative and experimental, the authority believes the introduction of a digital form of the sovereign currency could enhance the efficiency of payment systems, help address issues related to financial inclusion, and, above all, ensure that central banks remain relevant in the digital era.
If a digital euro were to be issued, the CBDC would essentially be a digital version of cash – a currency and payment method that would be widely accessible, free for basic use, and backed by the ECB the same way physical banknotes and coins are, the Eurosystem says.
The digital euro would be usable for all digital payments throughout the euro area, whether online or offline, acting as a pan-European payment solution for the eurozone under European governance. It would allow users to settle payments instantly in CBDC, and would be usable in a peer-to-peer fashion, at the point of sale, in e-commerce and for government transactions.
The technology would also provide a platform on which supervised entities could build pan-European services, fostering thus innovation and and reducing costs.
The digital euro would rely on its own infrastructure and would be developed with data protection in mind, the Eurosystem says. For offline payments, the CBDC would deliver a cash-like level of privacy. For online payments, the authority says it would not be able to see users’ personal data or link payment information.
Distribution of the digital euro
Looking at distribution models, the Eurosystem envisions for the digital euro to be accessible via the proprietary apps and online interfaces of payment service providers.
Authorized payment service providers in the bloc would be required to offer basic digital euro services, including onboarding and offboarding, account linkage, funding and transaction initiation.
The digital euro would also be accessible via a dedicated app provided by the Eurosystem.
People without a bank account or a digital device would be able to issue the digital euro, by using, for instance, a card provided by a public body such as a post office. Users would also be able to exchange digital euro for cash or vice verse at cash machines.
To encourage usage and distribution, the Eurosystem said it would put forward a compensation model to create incentives for banks and payment service providers to distribute the digital euro and to ensure that payments using the CBDC are free of charge and widely accepted across the euro area.
Findings of the investigation phase
The move of the digital euro project towards the development phase follows the completion of the first phase called the investigation phase.
Launched in October 2021, this phase focused on determining the most appropriate design features of the digital euro to meet the Eurosystem’s objectives and ensure smooth integration into the financial ecosystem and payments landscape.
Findings from this phase, which are detailed in a report titled “A stocktake on the digital euro: Summary report on the investigation phase and outlook on the next phase”, reveal that the motivations for the issuance of a digital euro are still as relevant as ever, and that a CBDC could potentially support competition, digitalization and innovation, strengthen European strategic autonomy and enhance the resilience of the bloc’s payments system.
The investigation phase has also demonstrated from a product design and distribution perspective that it would be possible to develop a digital euro that meets users’ needs and the Eurosystem’s requirements.
Moving forward
Although the Eurosystem is moving forward with its digital euro efforts, the authority stresses that no definitive decision has so far been made as to whether or not the bloc will be issuing a CBDC.
That decision will only be considered by the ECB’s Governing Council once the legislative framework for the digital euro has been adopted by the European Parliament and Council, it says.
In June 2023, the European Commission put forward a legislative proposal on the possible digital euro. The draft digital euro regulation proposes, among others, to grant legal tender status to the digital form of the currency. It also includes the provision that people would be able to get the CBDC through their bank on request, and that basic digital euro services would be free of charge of end-users.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/digital-euro-project-moves-to-preparation-phase</link><guid>3422</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Digital Euro Project Moves to Preparation Phase</dc:text></item><item><title>AI to Save Banks $900 Million in Identity Operational Cost</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 15, 2023
																				





					
					
							
					A new study from Juniper Research has found that the implementation of AI (Artificial Intelligence) in identity verification will reduce the average time spent per digital onboarding check from over 11 minutes in 2023, to under 8 minutes in 2028; dropping by 30%.
As AI becomes increasingly accurate, it reduces the number of identity checks referred to a human agent for review, and the need for ID photos to be retaken. This decreases the time taken for each verification, as well as the associated costs. The use of AI will also play a key role in protecting against emerging threats, such as synthetic identity fraud.



   




Total Volume of Digital Identity Verification Checks per annum (m) 2024, Split by Segment
Onboarding Spend to Grow Despite Decreasing Costs
The research anticipates that widespread adoption of digital verification within banking, particularly mobile banking, will continue to drive digital onboarding revenue growth.
Despite the aforementioned increase in efficiency reducing the cost of each individual digital identity verification check, the growing volume of checks, particularly in developing regions, will offset this. As such, Juniper Research forecasts that total spend for banks will increase from $7.4 billion in 2023, to $9.9 billion in 2028; representing a 34% increase.
Report author Michael Greenwood explained:
“Growth will be particularly strong in developing markets, where rising smartphone penetration is making mobile banking more readily available; driving growth in digital onboarding. To capitalise on this, verification vendors must develop onboarding processes that emphasise checks other than credit scores, such as mobile operator history, in order to maximise viability in emerging regions.”
About the Research Suite
The new market research suite offers the most comprehensive assessment of the digital identity verification market to date; providing analysis and forecasts of over 82,000 datapoints across 60 markets over five years. It includes a ‘Competitor Leaderboard’ and examination of current and future market opportunities.


Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/ai-to-save-banks-900-million-in-identity-operational-cost</link><guid>3420</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/AI-to-Save-Banks-900-Million-in-Operational-Costs-by-2028-Saving-29-Million-Digital-Onboarding-Hours-1440x564_c.jpg</dc:content ><dc:text>AI to Save Banks $900 Million in Identity Operational Cost</dc:text></item><item><title>Billte Receives Financing Led by Spicehouse and SICTIC</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 15, 2023
																				





					
					
							
					Billte , a Swiss company specialising in invoicing and payment solutions, announced the closing of its financing round led by Spicehaus Partners, with SICTIC as a co-investor. The funds will flow into expanding its reach and facilitate collaboration with banks.
Billte is dedicated to simplifying invoicing and payment processes for businesses, offering efficient and user-friendly solutions with a specific focus on core systems such as eBill and EBICS. With the introduction of eBill Direct Debit, set to replace the current LSV system in the coming years, the Zurich-based startup is well-prepared for the future, guaranteeing that businesses remain at the forefront of modern financial technology.
By collaborating with several Swiss cantonal banks, Billte has extended its services to banks’ business clientele, comprising small, medium, and large enterprises. Leveraging this foundation, the startup aspires to be the go-to service provider for Cantonal banks. The freshly obtained funds from its latest financing round will fuel this ambition. Led by Spicehaus Partners, Billte’s round featured the participation of SICTIC business angels.


   




The investment from the latest round bolsters the startup’s position, enabling it to accelerate its growth and expansion in Switzerland and internationally. This is facilitated by pre-existing partnerships with several Swiss Cantonal Banks. While the amount in the recent fundraising remains undisclosed, Billte has secured around CHF 2 million since its inception.
Raphael Bianchi
Raphael Bianchi, Managing Director of Synpulse Switzerland, investor and Billte’s board member, said:
“As we approach 2024, we see significant transformations on the horizon. Substantial shifts are underway in the global financial sector, with particular relevance to the Swiss financial landscape. Through our long-term partnership with Billte, we anticipate being well-equipped to address various dimensions of these evolutions, offering a diverse range of cutting-edge products to assist financial institutions in effectively meeting the needs of their small, medium, and large clientele. We are delighted that investors like Spicehaus and several SICTIC members also share this vision.”


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	]]></description><link>https://fintechnews.eu/billte-receives-financing-led-by-spicehouse-and-sictic</link><guid>3421</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Billte-Set-to-Facilitate-the-Ebill-Transition-in-the-Finance-Sector-1440x564_c.jpg</dc:content ><dc:text>Billte Receives Financing Led by Spicehouse and SICTIC</dc:text></item><item><title>Neobanking Revenues Climb 43%; Total Number of Customers Surpasses 1 Billion Threshold Worldwide</title><description><![CDATA[
									
					
							
					The neobanking sector is undergoing significant changes where priorities are being shifted from rapid expansion to profitability. New data from Simon-Kucher indicate that the strategy has so far paid off, with an increasing number of neobanks reaching profitability and industry revenues growing by about 43% over the past 18 months, a new report by the global consultancy shows.
The data were shared in a newly released report titled “The Future of Neobanking – Profits at the End of the Tunnel”. The document delves into the evolving neobanking landscape, emphasizing that amid a trying funding environment, neobanks are changing their strategies and focusing on financial performances, a shift that has had a positive impact on the sector.
Data from the report reveal that over the past year and a half, the neobanking sector has recorded strong growth. Among the largest industry players, 20 neobanks are now hosting 10 million or more clients, while 39 boast over 5 million customers. Several of these neobanks are now among the top 5 or 10 of the largest banks in their respective country, increasingly stepping on the toes of incumbent banks.


   




Globally, neobanks continue to gain traction with the total number of clients crossing the one billion market during the studied period. As of October 2023, the neobanking sector served roughly 1.1 billion clients globally, a figure which represents an impressive increase of more than 30% in the past 18 months.
Digital banks in Asia-Pacific (APAC) and Africa are catching up quickly, the report notes, owing to these markets’ large populations and significant number of underbanked clients. In South Africa, for example, TymeBank has racked up more than 8 million customers since its launch in February 2019 and is now adding an average of 200,000 customers a month; in Indonesia, Bank Jago grew from 3.5 million to 7.5 million clients in one year; and in the Philippines, Rizal Commercial Banking Corporation’s new mobile banking app DiskarTech reached 1 million clients in just 38 days after launch.
Neobanking revenues are also soaring. Over the past 18 months, average revenues per client increased from US$69 to US$75, representing a nearly 50% increase.
Global neobanking industry growth metrics, Source: The Future of Neobanking: Profits at the End of the Tunnel, Simon-Kucher, Oct 2023
Global neobanking leaders
Delving deeper into profitability in the neobanking sector, the Simon-Kucher report shares findings of a new analysis of players’ key growth metrics and financial performances.
The Simon-Kucher Neobanking Profitability Matrix, which distinguishes the neobanks that achieved customer growth with a clear lens on profitability, reveals that only 6 neobanks of the 33 global leading neobanks selected for the analysis are positioned in the “Better Growth” quadrant. The category features digital banks that have posted positive earnings before interest and taxes (EBIT) while growing above peer average.
These 6 neobanks are the only ones of the group that are turning a profit, and comprise Nubank from Brazil, Bank Jago from the Philippines, Kakao Bank from South Korea, and Starling Bank, Wise and Revolut, all headquartered in the UK.
Simon-Kucher’s Neobanking Profitability Matrix 2023, Source: The Future of Neobanking: Profits at the End of the Tunnel, Simon-Kucher, Oct 2023
These industry leaders are outperforming competitors, and have relied on a strategy involving six core principles and areas of focus, the report notes. First, they have all managed to diversify revenue streams and expanded beyond account fees or transactional revenues. Starling Bank, for example, made almost 80% of its 2022 revenue pool from interest-linked business, it notes. On the contrary, about 50% of the remaining neobanks are yet to seriously offer credit to their clients.
In addition, these six neobanks are relying on a hyper-localized approach, embracing a sharp regional focus that has allowed them to develop a deep understanding of customer needs, regulatory advantages and an edge over global competitors. Relevant examples include Nubank, which spent its first six years of existence focused on excelling in its home country of Brazil where it now serves 80 million customers, and Kakao Bank, which grew rapidly in its domestic market for several years before recently announcing international expansion plans.
Another point highlighted in the report is these neobanks’ ingenuity and their use of cutting-edge technologies.
Starling Bank, meanwhile, launched its banking-as-a-service (BaaS) offering Engine in 2022, providing banks and financial institutions around the world the ability to create new propositions or brands using its core technology; and MoneyLion integrated earlier this year Even Financial, an award-winning embedded finance platform for enterprise businesses.
These leading neobanks are also launching products on a loop and gradually increasing the value-add for their customers. Revolut, for example, now offers more than 20 products, including pioneer features like “Stays” or “Experiences”, which allow customers to book accommodations and travel tours; and Mashreq Neo, a smartphone banking app by incumbent bank Mashreq Bank, has partnered with the Indian Federal Bank to offer digital non-resident account opening in the United Arab Emirates (UAE).
Finally, the last differentiator outlined in the Simon-Kucher report that’s perhaps the most important one is the existence of a sound monetization model. This involves seeking a “product-market-pricing” fit; identifying customer segments that are currently lacking access to specific financial services; leveraging the power of bundling to add more value to customers; and developing an appropriate pricing strategy that resonates with the individualities of each customer.
Key areas of focus for fintech companies looking to develop sound monetization models, Source: The Future of Neobanking: Profits at the End of the Tunnel, Simon-Kucher, Oct 2023
After years of rapid growth and funding frenzy, the neobanking sector has now entered a new era that’s marked by a deceleration in the number of newly established neobanks and early signs of consolidation.
Data from Simon-Kucher show that the number of live neobanks has remained nearly constant at around 400 over the past year or so. The consultancy identified only 36 new players entering the market during the last 18 months.
Other players meanwhile are exploring the benefits of joining forces through mergers. Examples include the acquisition of Penta by Qonto in the European small and medium-sized enterprise (SME) space, as well as the reported discussions between UK digital bank Monzo and Nordic lender Lunar.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/neobanking-revenues-climb-43-total-number-of-customers-surpasses-1-billion-threshold-worldwide</link><guid>3417</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Neobanking Revenues Climb 43%; Total Number of Customers Surpasses 1 Billion Threshold Worldwide</dc:text></item><item><title>European Fintech Startup Accelerator Consolidation: Tenity Acquires Hackquarters</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 14, 2023
																				





					
					
							
					Tenity announced the agreement to fully acquire Hackquarters, a London- and Istanbul-based startup accelerator and corporate innovation partner with a strong footprint in the fintech space.
This strategic acquisition is an important step in the company’s growth strategy, creating powerful synergies in innovation program delivery and geographic reach. The integration of Tenity and Hackquarters will further solidify the combined company’s ecosystem of hubs, scaling delivery across 6 hubs in Europe and Asia.
Andreas Iten
“The landscape of corporate accelerators and incubators in Europe is highly fragmented, presenting unique challenges for corporates looking for the right partner,”
said Andreas Iten, CEO and Co-Founder of Tenity.


   




“With the acquisition of Hackquarters, we see a remarkable opportunitiy to create additional value for our ecosystem and partners. Together, we can create synergies across geographies, foster knowledge transfer, and generate a powerful network effect. We’re confident that Hackquarters is the perfect partner to achieve these goals.”
Kaan Akin, Founder and CEO of Hackquarters, will transition into a vital leadership within Tenity as Managing Partner. Akin brings a wealth of knowledge and experience to the team that will play a crucial role in realizing the company’s vision for a thriving, interconnected network of hubs.
Kaan Akin
“I am thrilled to join Tenity and continue to drive forward our shared vision,”
said Akin.
“Our combined strength presents a fantastic opportunity to accelerate the delivery of innovative solutions to our corporate partners and startups.”



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		]]></description><link>https://fintechnews.eu/european-fintech-startup-accelerator-consolidation-tenity-acquires-hackquarters</link><guid>3418</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Tenity-Announces-Strategic-Acquisition-of-Hackquarters-Scaling-Innovation-Impact-Across-Europe-MENA-and-APAC-1440x564_c.jpg</dc:content ><dc:text>European Fintech Startup Accelerator Consolidation: Tenity Acquires Hackquarters</dc:text></item><item><title>Viseca Payment Services ernennt ex UBS Digital Banking MD zum neuen CPO</title><description><![CDATA[
									
					
							
					Der Verwaltungsrat der Viseca Payment Services SA ernennt Stefan Brunner zum Chief Product Officer.
In der neu geschaffenen Position verantwortet er das Business Development, das Product Management, das Digital Business und das Marketing der Viseca und nimmt Einsitz in die Geschäftsleitung. Zu seinen Kernaufgaben gehören unter anderem das Vorantreiben der Digitalisierung des Unternehmens sowie die Weiterentwicklung der mehrfach ausgezeichneten one App.
Stefan Brunner
Stefan Brunner bringt langjährige Erfahrung in den Bereichen Digital und Mobile Banking mit und kennt sich bestens mit agilen Entwicklungsmethoden aus. Während mehr als 20 Jahren war er in entsprechenden Funktionen für die UBS tätig, zuletzt im Rang eines Managing Directors als Crew Product Lead für die UBS Digital Banking Plattform und Digital Security. Er ist diplomierter Betriebsökonom FH mit Bachelor-Abschluss in Betriebsökonomie und Vertiefung in Wirtschaftsinformatik.


   




Max Schönholzer
Max Schönholzer, CEO der Viseca:
«Wir freuen uns sehr, dass wir mit Stefan Brunner einen ausgewiesenen Digital-Experten mit langjähriger Erfahrung für die Position des Chief Product Officers gewinnen konnten. Das Payment-Geschäft entwickelt sich rasant weiter und Digitalisierung ist für die Viseca eine Kernkompetenz. Nicht zuletzt dank der mehrfach ausgezeichneten one App haben wir eine starke Position im Markt. Diese wollen wir auch künftig weiter ausbauen. Stefan Brunner wird diese Bereiche zusammen mit seinen Teams weiter vorantreiben.»
Stefan Brunner wird direkt an CEO Max Schönholzer rapportieren. Er tritt seine Position bei Viseca per 1. März 2024 an.


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		]]></description><link>https://fintechnews.eu/viseca-payment-services-ernennt-ex-ubs-digital-banking-md-zum-neuen-cpo</link><guid>3415</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Viseca Payment Services ernennt ex UBS Digital Banking MD zum neuen CPO</dc:text></item><item><title>ETF Studie aus Deutschland zeigt Potential für Robo-Advisors</title><description><![CDATA[
									
					
							
					Der Hype um börsengehandelte Indexfonds (ETFs) nimmt kein Ende, wie aus einer neuen ETF Studie von Business2Community hervorgeht.
Allen voran in Deutschland scheinen sich ETFs grosser Beliebtheit zu erfreuen. So haben die Privatanleger in der Bundesrepublik 135 Milliarden Euro in jene Fonds investiert. Im restlichen Kontinentaleuropa sind es 65 Milliarden Euro.
Wie die Erhebung aufzeigt, bestehen Depots von wenig erfahrenen Anlegern im Durchschnitt zu 31 Prozent aus ETFs, wohingegen der Anteil bei erfahrenen Anlegern bei knapp 22 Prozent liegt. Andersherum verhält es sich mit Einzelaktien.


   





In den vergangenen Jahren kam es zu einem sprunghaften Anstieg von ETF-Sparplänen. 2017 gab es derer in Deutschland 0,5 Millionen – aktuellen Daten zufolge sind es gegen Ende 2023 rund 7,6 Millionen Stück.
48% wollen in ETF künftig investieren
Viele haben in den vergangenen Jahren in ETFs investiert – und noch mehr wollen es künftig tun. Von denen, die noch keine ETFs im Portfolio haben, gaben 2023 etwa 48 Prozent an, in den nächsten 2 Jahren in ETFs investieren zu wollen. Ein Jahr zuvor waren es indes 41 Prozent. Die am häufigsten genannten Gründe für ein Investment sind Aspekte der Diversifizierung sowie die geringen Gebühren.
ESG ETFs im Trend
Auch steigt die Bedeutung von ESG-ETFs zunehmend an. 54 Prozent der Deutschen wollen ihr Engagement in diesem Bereich in den nächsten 3 Jahren erhöhen. 



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		]]></description><link>https://fintechnews.eu/etf-studie-aus-deutschland-zeigt-potential-fur-robo-advisors</link><guid>3416</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>ETF Studie aus Deutschland zeigt Potential für Robo-Advisors</dc:text></item><item><title>HSBC Executes First Tokenised Physical Gold Trades</title><description><![CDATA[
									
					
							
					HSBC announced the first trades tokenising the ownership of physical gold held in HSBC’s London vault, using distributed ledger technology (DLT).
HSBC has developed this capability by creating a ‘digital twin’ of an existing physical asset – specifically loco London gold that is custodied in HSBC’s vault. Tokenised physical gold can be traded between HSBC and institutional investors through the HSBC Evolve single dealer platform, or through an application programming interface (API).
Richard Bibbey, HSBC’s Global Head of FX, EM rates and Commodities, said:


   




“As one of the earliest adopters of DLT, we are pleased to reinforce our leadership position in the gold market by tokenising physical gold. We continue to pave the way for improving the post-trade market infrastructure of capital markets.”
HSBC’s approach to gold tokenisation generates a permissioned digital representation of clients’ physical gold holdings, which is integrated into HSBC’s operational infrastructure, including HSBC Evolve. This provides a digital overlay for clients to see their tokenised gold trades and positions that correspond with their physical holdings.
This in turn allows for an automated and, therefore, more efficient and cost-effective way for investors to keep track of their allocated as well as unallocated gold. This approach enables an automatic allocation of gold bars, which meet investors’ criteria, and then tokenises them.
While loco London gold bars are 400 troy ounces, one token on HSBC’s gold tokenisation platform is equivalent to 0.001 troy ounce. In due course, this could enable fractionalisation of loco London gold bars and direct investment by retail investors, depending on the jurisdiction and regulatory framework of where the retail investor is based.
HSBC’s gold tokenisation approach complements HSBC Orion, the bank’s existing platform for issuing and storing native digital assets such as digital bonds.
John O’Neill
John O’Neill, Global Head of Digital Assets Strategy, Markets and Securities Services, HSBC, said:
“Tokenising physical gold represents a further advance in HSBC’s overall digital assets strategy. In addition to demand for native digital assets, we are seeing appetite for tokenisation solutions that can maintain a link to specific real-world use cases, such as gold. Our approach to gold tokenisation complements HSBC Orion, and is part of our commitment to creating a world-leading set of digital asset capabilities to best serve the needs of our clients.”
HSBC is one of the world’s largest precious metals custodians and is one of four clearers of the loco London gold market, where, according to the London Bullion Market Association (LBMA), over 20 million ounces of gold are cleared daily on a net basis.


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	]]></description><link>https://fintechnews.eu/hsbc-executes-first-tokenised-physical-gold-trades</link><guid>3413</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>HSBC Executes First Tokenised Physical Gold Trades</dc:text></item><item><title>Buchempfehlung: Offene und digitale Ökosysteme: Banking, Daten und Innovationen</title><description><![CDATA[
									
					
							
					In seinem neuesten Werk, das im November 2023 beim Springer Verlag erschienen ist, widmet sich Dr. Daniel Fasnacht, Fellow und Program Director an der Universität Zürich und Experte für Trends, digitale Transformation, disruptive Technologien und Geschäftsmodell-Innovationen, der Thematik der offenen und digitalen Ökosysteme.
Daniel Fasnacht
Er erläutert anschaulich anhand von Beispielen von Accenture, Alibaba, Alipay, Alphabet, Amazon, Apple, ETH Zürich, Google, IBM, Migros, NatWest Group, NIO, Tencent, UBS und WeChat, wie diese Ökosysteme dazu beitragen, Produkte und Dienstleistungen über Unternehmensgrenzen hinweg zu entwickeln und anzubieten.
Dabei werden verschiedene Technologien kombiniert, um eine neue, sektorübergreifende Wertschöpfung zu fördern.


   




Fasnacht geht in seinem Buch der Frage nach, warum diese Ökosysteme den grenzenlosen Konsum fördern und weshalb Plattform-Geschäftsmodelle die führende Managementstrategie des kommenden Jahrzehnts werden.
Er beleuchtet die Verbindung zwischen Transformation und kreativer Zerstörung und diskutiert, ob dies eine Dystopie oder eine Chance darstellt. Ausserdem wirft er einen Blick auf die Zukunft der Arbeit im Kontext dieser Ökosysteme und beleuchtet, welche Aspekte Führungskräfte dabei beachten müssen.
Offene und digitale Ökosysteme: Mehrwert durch Branchen- und Technologiekonvergenz, Springer, 2023


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	]]></description><link>https://fintechnews.eu/buchempfehlung-offene-und-digitale-okosysteme-banking-daten-und-innovationen</link><guid>3414</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Buchempfehlung: Offene und digitale Ökosysteme: Banking, Daten und Innovationen</dc:text></item><item><title>Swiss Metaco Supports in HSBC’s New Digital Assets Custody Service</title><description><![CDATA[
									
					
							
					HSBC is set to introduce a new custody service for managing digital assets like tokenised securities, aimed at its institutional clients.
This service is expected to start in 2024 and will work alongside HSBC‘s existing digital platforms, including Orion for issuing digital assets and a recent programme for digital gold.
The bank is collaborating with Metaco, a Swiss-based provider of digital asset custody and tokenisation technology, to use its Harmonize platform, which will enhance the security and management of these digital asset services.


   




Zhu Kuang Lee
Zhu Kuang Lee, Chief Digital, Data and Innovation Officer, Securities Services, HSBC said,
“We’re seeing increasing demand for custody and fund administration of digital assets from asset managers and asset owners, as this market continues to evolve.

Through key partnerships, HSBC is delivering the next-generation custody infrastructure that will be scalable and secure. For asset servicers, there has never been a more important time to innovate, to collaborate and to create change.”
Adrien Treccani
Adrien Treccani, CEO and Founder of Metaco said,
“Metaco is excited to be working with HSBC as it continues to explore the applications of DLT in asset creation and custody.

Custody infrastructure such as Metaco’s Harmonize, which integrates with financial institutions’ existing systems, will be critical to how issuers and investors interact, as capital markets and assets in general continue to be represented on distributed ledgers.”

This article first appeared on fintechnews.sg


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		]]></description><link>https://fintechnews.eu/swiss-metaco-supports-in-hsbcs-new-digital-assets-custody-service</link><guid>3412</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Swiss Metaco Supports in HSBC’s New Digital Assets Custody Service</dc:text></item><item><title>Ranking: Die digitalsten Privatbanken der Schweiz im 2023</title><description><![CDATA[
									
					
							
					Die neueste Colombus Consulting’s Studie zeigt auch in diesem Jahr eine positive Entwicklung im digitalen Bereich, mit zahlreichen Neuerungen.
Das Wachstum ist jedoch nicht mehr in allen Bereichen zu beobachten, ein Rückgang ist bei den sozialen Netzwerken zu verzeichnen. Die generative KI könnte ein Wachstumstreiber sein und die Kundenbeziehungen dynamisieren.
Eine Rangliste, die 2023 insbesondere durch den Eintritt von Alpian auf den Kopf gestellt wird
Das Trio aus Julius Bär, Vontobel und Lombard Odier, das die Rangliste in den letzten Jahren dominierte, wird in diesem Jahr kräftig durchgeschüttelt. So findet man in den Top 5: Vontobel, Julius Bär, Pictet, Lombard Odier und nun auch Alpian, das einen bemerkenswerten Eintritt verzeichnet.


   




Abgesehen von den Entwicklungen in der Rangliste ist das Wachstum nicht mehr systematisch. Einige Zahlen verdeutlichen diese Unterschiede: Das Publikum des Panels ist um 7 % gestiegen, die Netzwerke sind in Bezug auf das Engagement stabil, aber die Zahl der Abonnenten sinkt.
Die Medieninvestitionen sind hingegen stark angestiegen (um mehr als 60 %), insbesondere für die Suchmaschinenoptimierung. Abgesehen vom Ranking geht die Entwicklung der Dienstleistungen weiter, mit Trading, einer Zunahme der Krypto-Angebote, die mit der Sicherheit einer Privatbank einhergehen (Julius Bär in Partnerschaft mit SEBA Banque und Syz über sein Angebot „Syz Crypto“, das von Taurus gesichert wird), aber auch einem verstärkten Engagement im digitalen Bereich und in sozialen Netzwerken (Edmond de Rothschild, Julius Bär, Syz usw.).
Mobile Apps entwickeln sich nach einigem Zögern
Die Bemühungen der Privatbanken konzentrieren sich auf mobile Apps. Während Mirabaud in diesem Bereich nur seinen Rückstand aufholt, investieren die anderen Firmen weiter, wie beispielsweise Vontobel (Volt), Lombard Odier (MyLO), UBP mobile und Alpian.
Die Optimierung der Bildschirme, die konsolidierte Anlageberatung, Anlagevorschläge, Push-Nachrichten bei Veröffentlichungen von Finanzanalysten, die elektronische Unterzeichnung von Dokumenten und die biometrische Authentifizierung sind nur einige der Neuerungen, die in den letzten Monaten eingeführt wurden. Alpian hebt sich durch einen Echtzeit-Chat und die Möglichkeit, einen In-App-Videoanruf mit einem Berater zu planen, ab.
Soziale Netzwerke: Eine noch junge Investition, der bereits die Luft ausgeht?
Während die Privatbanken ihre Investitionen in soziale Netzwerke während der Pandemie erhöht hatten, ist die Entwicklung nunmehr durchwachsen, wobei jedoch ein anhaltender Trend zu beobachten ist, ihre Zielgruppen mit CSR- und ESG-Themen zu erreichen. Während die Budgets für soziale Netzwerke weiterhin steigen (+17 %), nimmt das Engagement nicht mehr zu, und die Reichweite durch die Anzahl der Abonnenten ist rückläufig (-9 %). Dies ist ein allgemeiner Trend, der über den Privatbankensektor hinausgeht.
Alpian schlägt einen neuen Weg ein
Indem man daran arbeitet, das Verhalten, die Bedürfnisse und Wünsche der Kunden anhand von Daten zu verstehen, wird die digitale Technik zu einem Verbündeten, um die Erwartungen der Kunden anhand ihre Interaktionen besser zu erkennen. In einigen Privatbanken wird das digitale Marketing so zu einem neuen Werkzeug im Arsenal der Berater, um Bedürfnisse und Erwartungen zu erkennen und den Kunden neue Dienstleistungen anzubieten.
Innovation stark auf Bankprodukte ausgerichtet, während WealthTech-Investitionen rückläufig sind
Privatbanken kommunizieren immer stark über ihre neuen Finanzprodukte (Krypto-Wallet, Robo-Advisory, Portfolio-Konsolidierung usw.). Diese Innovationen haben oft von der Entwicklung von WealthTech profitiert und ermöglichen es, mehr digitale Dienstleistungen anzubieten, die auch die Potenziale der künstlichen Intelligenz nutzen.
„Nach einem Rekordjahr 2021 waren die letzten Monate von einem deutlichen Rückgang der Investitionen in FinTech und WealthTech geprägt. Diese besondere Zeit zwischen dem Bedürfnis der Privatbanken, sich digital zu differenzieren, und der Konsolidierung des WealthTech-Sektors stellt für die Banken eine zweifellos einmalige Gelegenheit dar, Akteure aus diesem Sektor in ihr Ökosystem zu integrieren“, fügt Jean Meneveau, geschäftsführender Gesellschafter von Colombus Consulting Schweiz, hinzu.
Generative KI als Verbündeter zur Beschleunigung und Belebung des Kundendialogs?
Historisch gesehen setzen Privatbanken kaum künstliche Intelligenz im Kundenbeziehungsmanagement ein, da die hyperpersönliche Beratung die Stärke der Berater ist. Der Einsatz generativer KI könnte jedoch die Verarbeitung heterogener und komplexer Kundeninformationen und -anfragen erleichtern und die Vorbereitung präziserer, schnellerer Antworten ermöglichen.
Das Beispiel des Riesen Morgan Stanley verdeutlicht diesen Trend: Nach einem ersten erfolgreichen Test eines von OpenAI gespeisten Chatbots wird diese Lösung nun bei den 16.000 Beratern eingesetzt, um sie bei ihren täglichen Aufgaben zu unterstützen. „Das Privatbankwesen ist nach wie vor ein konservativer Sektor, wenn es um die Verwaltung von Kundenbeziehungen geht, aber die Benutzerfreundlichkeit der generativen KI könnte die Banken davon überzeugen, auf den Zug aufzuspringen, um die Front-Office-Aktivitäten zu erleichtern“, schliesst Jean Meneveau.
Digital Index: Die globale digitale Performance der Branche
Colombus Consulting präsentiert das globale Ranking des digitalen Index, welcher die digitale 360°-Performance von Privatbanken anhand von 50 Indikatoren, in vier Bereichen Web, Mobile, Marketing und Social, misst. Dieses Ranking hebt die gute Performance der drei führenden Banken hervor, die einen grossen Vorsprung zu ihren Wettbewerbern haben.

Methodik
Colombus Consulting hat diese Studie auf der Grundlage von Messungen vom Januar bis März 2023 und einem Panel von 28 wichtigen Privatbanken in der Schweiz durchgeführt.
Bonhôte, Banque Cramer, Bergos, Baumann &amp; Cie, BNP Paribas, Bordier, CBH, Edmond de Rothschild, EFG, Gonet, Hinduja, Hyposwiss, J. Safra Sarasin, Julius Bär, Lombard Odier, Maerki Baumann &amp; Co, Mirabaud, Oddo BHF, Piguet Galland, Pictet, Reyl, Rahn+Bodmer, Société Générale Private Banking, Syz, Banque Thaler, UBP, Vontobel
Colombus Consulting bietet einen digitalen Index an, der die digitale 360°-Präsenz und -Performance von Akteuren anhand von 50 Indikatoren misst, darunter:

Webseite: Publikum, Performance (Bounce, Besuchs- und Ladezeit), Kundenerlebnis (Design, Inhalte und Funktionen)
Mobile Apps: Updates, Kommentare und Bewertungen, NPS (Net Promoter Score), SEO in den Filialen
Soziale Netzwerke: Linkedin, Facebook, Youtube, Twitter, Instagram
Digitales Marketing: Suchmaschinenoptimierung, Display, E-Mail, soziale Netzwerke, Partner

Verwendete Lösungen:
Colombus Consulting verwendet verschiedene Erfassungsinstrumente des Marktes und hat alle Daten in Form eines Indexes aufgearbeitet, der einen einfachen und visuellen Benchmark des Sektors ermöglicht. Die gewählten Tools sind: Decodeapps, Alexa, Similar Web, Semrush, Builtwith


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	]]></description><link>https://fintechnews.eu/ranking-die-digitalsten-privatbanken-der-schweiz-im-2023</link><guid>3411</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Ranking: Die digitalsten Privatbanken der Schweiz im 2023</dc:text></item><item><title>Visa startet KI-Beratungsangebot</title><description><![CDATA[
									
					
							
					Visa berät Banken und weitere Partner künftig beim Einsatz von künstlicher Intelligenz.
Die neu gegründete AI Advisory Practice der hauseigenen Beratung Visa Consulting &amp; Analytics (VCA) unterstützt die Visa Kunden dabei, Potenziale im Bereich KI und generativer KI zu nutzen.
Visa hat als erstes Zahlungsnetzwerk künstliche Intelligenz genutzt, um Betrug zu erkennen. Seit 30 Jahren setzt das Unternehmen KI ein, um Dienstleistungen weiterzuentwickeln und weltweit sichere, reibungslose Transaktionen zu ermöglichen.


   




Allein in den vergangenen zehn Jahren hat Visa mehr als drei Milliarden US-Dollar in KI und Dateninfrastruktur investiert. Bereits im letzten Jahr hat VCA weltweit zahlreiche KI-bezogene Beratungsaufträge realisiert. In diesem Zuge wurden über 150 Modelle entwickelt, die die Grundlage für das spezielle KI-Beratungsangebot bilden und damit Visas Angebot an B2B-Mehrwertdiensten strategisch ergänzen.
Santosh Ritter
«KI verändert nicht nur ganze Branchen weltweit – sie revolutioniert sie. Die Zahlungsindustrie steht bei dieser Transformation an vorderster Front»,
sagt Santosh Ritter, Country Manager Schweiz und Liechtenstein bei Visa.
«Visa nutzt künstliche Intelligenz nicht nur, um das Bezahlen sicherer zu machen – unser Beratungsgeschäft setzt sie nun auch ein, um unseren Kunden dabei zu helfen zu wachsen und neu zu definieren, wie sie ihre eigenen Kunden bedienen.»
Visas neuer KI-Beratungsservice nutzt VCAs globales Netzwerk von über 1000 Berater:innen, Data Scientists und Produktspezialisten an 75 Standorten auf sechs Kontinenten, um Kunden dabei zu helfen, die KI-Landschaft und die Potenziale generativer KI besser zu verstehen und nutzen zu können.
VCA bietet entlang der gesamten Wertschöpfungskette Dienstleistungen an – von der Planung und Strategie bis zur Implementierung. Dieser kollaborative Ansatz soll Kunden dabei helfen, ihre eigene Strategie für den verantwortungsvollen Umgang mit KI zu bestimmen und KI effektiver zur Erreichung ihrer Geschäftsziele einzusetzen – wie u.a. Markterweiterung, Produktdesign, Kundengewinnung und Verbesserung des Kundenengagements, Autorisierung und Betrugsprävention.
Weitere Informationen zum Thema generative KI im Zahlungsverkehr in diesem Visa Whitepaper.


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	]]></description><link>https://fintechnews.eu/visa-startet-ki-beratungsangebot</link><guid>3410</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Visa startet KI-Beratungsangebot</dc:text></item><item><title>Syz Capital Take Majority Stake in Digital Marketing Company Capture Media</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 14, 2023
																				





					
					
							
					Syz Capital, the boutique private markets investment specialist, announced that it has made a strategic controlling investment in Capture Media, a Swiss leader in digital media and analytics solutions.
Backed by the Syz family, and in close partnership with Saturnus Capital, Syz Capital will deploy a strategy to expand Capture Media’s pioneering and highly differentiated offering in the DACH region.
The transaction involves Syz Capital acquiring a majority controlling stake with operating partners Saturnus, while the founders of the business, Sandro Albin, Michel Lazecki and Franz d’Huc, are reinvesting and retaining a significant minority share. The investment reflects Syz Capital’s confidence in Capture Media’s exceptional growth potential and unique offering.


   




Capture Media has shown exponential growth in the dynamic digital advertising industry. The firm has been expanding at over three times the industry’s average growth rate in the last five years. T
he strategic rationale behind the investment is rooted in the robust growth of the digital advertising industry, which continues to flourish at over 9% annually in the DACH region. Moreover, European markets still lag behind the United States in online marketing penetration, offering immense growth opportunities.
Strategic alignment
Syz Capital and Saturnus Capital are ideally positioned to support the organic and inorganic growth plans of Capture Media given its proximity to key markets and growing reputation in the region. With a strong team in place, Capture Media plans to expand substantially, especially in western Switzerland, and via strategic acquisitions in Germany and Austria. The company also intends to enhance product capabilities leveraging industry experts, including a former Google executive, who is joining as advisor.
The founders of Capture Media, Sandro Albin and Michel Lazecki, will continue to operate as company directors. They will be joined by a new CFO and COO. Syz Capital’s deeply experienced operating partners, Joscha Boehm and Philipp Schweizer, will join the board of directors, alongside Marc Syz, and lead the M&amp;A acquisition expansion strategy.
Marc Syz
Marc Syz, Syz Capital’s managing partner, commented on the transaction:
“Capture Media is the fastest-growing Engagement Advertising Provider in Switzerland offering innovative solutions for digital marketing. This is an entrepreneurial company with healthy cashflow that is well-positioned to benefit from the expanding online marketing landscape. It is also a unique player in digital marketing, positioned between performance and engagement marketing. Currently, the DACH region is fragmented, offering several M&amp;A add-on opportunities. We believe Capture Media Group is ideally suited to execute a buy- and-build strategy in Europe.”

Michel Lazecki, Sandro Albin and Franz d’Huc, the Founding Parters of Capture Medi
Michel Lazecki, Sandro Albin and Franz d’Huc, the Founding Parters of Capture Media commented:
“We are excited to have found ideal partners in Syz Capital and Saturnus Capital to help us achieve our growth targets in the years to come. In the last couple of years, we have established engagement advertising in Switzerland and we believe in the big potential to make this product offering also available to other markets. We are looking forward to launch new data-driven online advertising products, further strengthen our tracking and analytics product, fusedeck®, and generate value for our clients, in our home market and abroad.”

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/syz-capital-take-majority-stake-in-digital-marketing-company-capture-media</link><guid>3419</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Syz-Capital-Take-Majority-Stake-in-Digital-Marketing-Company-Capture-Media-1440x564_c.jpg</dc:content ><dc:text>Syz Capital Take Majority Stake in Digital Marketing Company Capture Media</dc:text></item><item><title>Singapore Insurtech Bolttech Partners With Salt in Switzerland</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 10, 2023
																				





					
					
							
					Singapore based insurtech Bolttech announced a preferred partnership with French entrepreneur Xavier Niel’s NJJ telecom Group (NJJ) to provide device insurance for European mobile operators under its portfolio.
Both Salt and Monaco Telecom are dedicated to providing their customers with sustainable and safe device insurance solutions along with their offers. Salt currently serves more than 1.5 million postpaid mobile customers across Switzerland.
The partnership sees bolttech selected as the Group’s preferred device protection partner to embed relevant coverage within the existing customer journey of the mobile operators. This further deepens previous standalone collaborations with local mobile operators such as Salt – a longstanding partner of bolttech in Switzerland, offering customers fast and efficient device protection services such as next-day device replacement and one-hour walk-in device repair.


   




Jens Schädler
Dr. Jens Schädler, Chief Executive Officer for bolttech Europe, said,
“We are honoured to build on our long-standing relationships with existing partners under NJJ, such as Salt and Monaco Telecom, to strengthen and expand our international collaboration. Together, we will deliver a wide range of next-generation device protection to more customers across Europe. This partnership marks a significant milestone for bolttech as we expand our partnership with NJJ and strengthen our leadership in the device protection space.”


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			&#13;
				About Author&#13;
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		]]></description><link>https://fintechnews.eu/singapore-insurtech-bolttech-partners-with-salt-in-switzerland</link><guid>3409</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Singapore-Insurtech-Bolttech-Partners-With-Salt-in-Switzerland-1440x564_c.jpg</dc:content ><dc:text>Singapore Insurtech Bolttech Partners With Salt in Switzerland</dc:text></item><item><title>Versicherungen und Technologie im Jahr 2028</title><description><![CDATA[
									
					
							
					Die Zukunft des Versicherungsvertriebs wird von einem zentralen Faktor geprägt sein: Technologie.
Im Jahr 2028 werden selbstbestimmte Kunden, anspruchsvollere Vertriebspartner, neue Akteure und eine Fülle von Technologien die vertriebliche Realität prägen. Dies wird in den kommenden Jahren zu einer deutlich heterogeneren Vertriebslandschaft führen.
Die strategische Positionierung entlang der Vertriebswege wird für Versicherer entscheidend sein, insbesondere in Bezug auf den Einsatz von Künstlicher Intelligenz (KI), die Ausrichtung auf die unterschiedlichen Anforderungen der Vertriebswege und die Besetzung der Kundenschnittstelle.


   




Der bisherige “One-Size-Fits-All”-Ansatz, der auf eine Gleichbehandlung aller Vertriebswege abzielt, hat ausgedient. Das sind zentrale Ergebnisse aus dem White Paper “NEXT Distribution 2028: Die Zukunft des Versicherungsvertriebs”. Erstellt wurde es in Kooperation zwischen dem InsurTech Hub Munich (ITHM), einer Innovationsplattform der Versicherungswirtschaft, und dem globalen Beratungsunternehmen Roland Berger.
Übersicht InsurTechs in Teilbereichen zur Disaggregation der Wertschöpfung
Die Vertriebskapazität in der Versicherungsbranche wird sich laut White Paper aufgrund des demografischen Wandels in den nächsten fünf Jahren um 25 bis 30 Prozent reduzieren. Gleichzeitig ist davon auszugehen, dass Größe und Verhandlungsmacht der Vertriebseinheiten aufgrund anhaltender Konsolidierung weiter steigen. Im Maklerkanal verringert sich die Anzahl möglicher Partner im Mittelstandsmakler-Segment kontinuierlich, während in der Ausschließlichkeit der Trend zu größeren und autonomeren Agenturen anhält.
Claudia Fell
„Diese Entwicklungen stärken die Verhandlungsmacht der Vertriebspartner und schränken die Spielräume der Versicherer ein“,
wie Claudia Fell, Senior Partner bei Roland Berger, betont.
Zugleich führen Veränderungen in verschiedenen Geschäftsfeldern, wie etwa abnehmendes Neugeschäft im Leben-Bereich, tendenziell zu rückläufigen adressierbaren Provisionstöpfen für traditionelle Vertriebe. Verschiebungen des Neugeschäfts in andere Felder und Vertriebswege gewinnen an Bedeutung, etwa eine weitere Zunahme digitaler Abschlüsse oder der Trend vom Individual- zum Kollektivgeschäft, was oft wenig Potenzial für die breite Masse der Vermittler bietet. Diese Entwicklungen werden, so das White Paper, Vermittlern Geschäftsvolumina und damit Provisionen entziehen. Den Vertrieb kann das für Nachwuchskräfte, die ohnehin rar sind, unattraktiver machen.
Technologie wird zum entscheidenden Wettbewerbsfaktor
Grundlegend für einen erfolgreichen Versicherungsvertrieb 2028 wird laut White Paper gerade deshalb der Einsatz von Technologie sowohl in Richtung Kunde als auch in Richtung der Vertriebswege. Versicherer sollten ihre Vertriebspartner gezielt dabei unterstützen, die Kundenbetreuung noch effektiver zu machen.

So seien in der Ausschließlichkeitsorganisation Ansätze denkbar, die von der LeadGenerierung und  Konvertierung über die Vorbereitung von Kundengesprächen mit „BestProduct-Empfehlungen“ bis hin zur digitalen Ausakquirierung von Vermittlerbeständen reichen.
Die Servicierung der Vertriebspartner sollte verstärkt auf die individuellen Anforderungen ausgerichtet werden, um sie zu unterstützen und ihnen zu helfen, ihre Provisionseinnahmen zu maximieren. Vermittler werden sich künftig verstärkt, so die Studie, vor allem für die Versicherer entscheiden, die ihnen technologische Mehrwerte zu bieten haben – die also ihre vertriebliche Arbeit effektiv unterstützen und ihnen damit helfen, ihre Provisionseinnahmen zu maximieren. Auch Makler und Pools werden diejenigen Versicherer favorisieren, die technologisch die beste Anbindung und die effizientesten Prozesse bieten und zudem in der Lage sind, auch Schnittstellen zu Avataren mit unterschiedlicher Funktion abzubilden.
Kooperation mit Insurtechs und Technologieanbietern
Ein Investitionsstau in neue Technologien und das Festhalten an traditionellen Produkten könnten den demografiebedingten Vermittlerschwund beschleunigen.
„Inwieweit eine technologische Aufrüstung der vertrieblichen Wertschöpfungskette gelingt, wird in den kommenden Jahren ein zusätzliches Differenzierungskriterium der Versicherer gegenüber ihren Vertriebspartnern“,
meint Claudia Fell. Um sich attraktiv zu positionieren, empfiehlt das White Paper Versicherern eine verstärkte Zusammenarbeit mit Spezialanbietern und Insurtechs. Der Trend, vor allem Komponenten mit hohem Technologie-Know-how von Dritten zu beziehen, um Vertriebspartner- und Kundenerwartungen gerecht zu werden, wird sich laut White Paper fortsetzen.
„Bei der Entscheidung, ob etwas intern entwickelt oder von externen Partnern bezogen wird, ist Geschwindigkeit ein besonders relevantes Kriterium. Insbesondere in Bezug auf aufstrebende Technologien wie generativer KI, können Insurtechs und Technologieanbieter Versicherern helfen, diese rasch und gewinnbringend einzusetzen“,
sagt Esther Prax.
“One-Size-Fits-All”-Ansatz hat ausgedient
Erfolgreich dürfte diese Anwendung von Technologie aber vor allem dann sein, wenn sich die Versicherer auf die jeweils unterschiedlichen Anforderungen der verschiedenen Vertriebswege und deren jeweiligen Profitabilitätstreiber ausrichten. „Der ‚One-size-fits-all‘-Ansatz verspricht künftig keinen Erfolg mehr“, kommentiert Claudia Fell.
Im Gegenteil muss sich die künftige Positionierung noch stärker an den Bedürfnissen der Vertriebswege und Kunden orientieren. Schon heute – so Analysen von Roland Berger – wachsen Versicherer, die gezielt auf Anforderungen der jeweiligen Vertriebswege eingehen, deutlich schneller als Multikanalversicherer. Das jährliche durchschnittliche Prämienwachstum betrug in den Jahren von 2017 bis 2022 bei Multikanalversicherer demnach 2,2 Prozent, während Maklerversicherer ihre Prämien jährlich um 4,6 Prozent, AO-Versicherer sogar um 4,8 Prozent steigern konnten.
Differenzierte Ausrichtung auf Anforderungen der Vertriebswege
Um auch im Jahr 2028 erfolgreich zu sein, sollten Versicherer ihre strategische Positionierung entlang der Vertriebswege schon jetzt überdenken und sich klar ausrichten – gegenüber des eigenen Agenturnetzwerks, mit externen Versicherungspartnern wie Maklern mit oder ohne Einbindung von Aggregatoren, Banken oder Finanzvertrieben oder mit DrittPlattformen in Gestalt von Affinity- oder Embedded-Insurance-Lösungen.
Methodik: 
Das White Paper ist in Zusammenarbeit von Roland Berger mit den Mitglieds- und Partnerunternehmen des ITHM und unter der Mitwirkung von Experten aus Versicherungsund Technologieunternehmen sowie der Insurtech-Branche entstanden. Auf Basis von Analysen und Markt-Studien hat Roland Berger Thesen zur Marktentwicklung formuliert und diese gemeinsam mit 20 Partnerunternehmen des ITHM in strukturierten Board- und Executive-Interviews validiert und geschärft.


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	]]></description><link>https://fintechnews.eu/versicherungen-und-technologie-im-jahr-2028</link><guid>3408</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Versicherungen und Technologie im Jahr 2028</dc:text></item><item><title>Traditional Financial Institutions Accelerate Digital Assets Efforts</title><description><![CDATA[
									
					
							
					Traditional banking and financial institutions from around the world continue to expand their digital assets offerings, embracing not only tokenization but also cryptocurrencies at a fast-pace in a bid to tap new growth opportunities, improve efficiencies and enhance transparency.
In Europe, HSBC, Euroclear, Deutsche Bank and the London Stock Exchange Group (LSEG) are among those that recently announced digital assets services and tokenization efforts.
HSBC announces new digital assets service
British bank HSBC unveiled this week plans to launch a new digital assets custody service for institutional clients who invest in tokenized securities. The bank will be using technology from Swiss enterprise tech firm Metaco, which was recently acquired by blockchain startup Ripple, to store bonds and other securities.


   




The new digital assets custody service, which is set to go live in 2024, will complement HSBC Orion, the bank’s platform for issuing digital assets, as well as HSBC’s recently launched offering for tokenized physical gold, as the bank works towards creating a complete digital asset offering for institutional clients.
HSBC already lets its Hong Kong clients trade in bitcoin and ether exchange-traded funds (ETFs).
Euroclear launches issuance service
The HSBC announcement followed the news that Euroclear, a major European clearinghouse, had launched a solution for the issuance of digital securities.
The Digital Securities Issuance (D-SI) service, which went live on October 24, enables the issuance, distribution and settlement of fully digital international securities – referred to as Digitally Native Notes (DNN) – on distributed ledger technology (DLT).
The World Bank was the first organization to issue digital securities on the new platform.
Deutsche Bank teams up with crypto firm Taurus
In Germany, Deutsche Bank signed in September a partnership agreement with Swiss crypto infrastructure firm Taurus to provide digital asset custody and tokenization services to the bank’s institutional clients. The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenized versions of traditional financial assets.
The bank participated in Taurus’ US$65 million Series B funding round back in February 2023, and further demonstrated in June its intention to push into the crypto sector when it applied for regulatory approval to operate a custody service for digital assets, including cryptocurrencies.
Stock exchange operator launches digital asset trading platform
In the UK, bourse operator the London Stock Exchange Group (LSEG) is also jumping on bandwagon, unveiling in September that it was working on the launch of a blockchain-powered trading venue that would allow investors to trade tokenized assets, Murray Roos, head of capital markets at the LSE Group, told the Financial Times in September.
The move would see the LSEG becoming one of the world’s first large global stock exchanges to offer extensive trading of traditional financial assets on DLT, following the lead of other bourse operators including Switzerland’s SIX, which launched its DLT-based exchange for digital assets back in 2021.
Asia sees new developments
Banks are also ramping up their tokenization and crypto efforts in Asia. In Singapore, UBS Asset Management launched in October a live pilot of an Ethereum-based tokenized money market fund. The pilot is being conducted through UBS Tokenize, the firm’s dedicated platform for digital assets, as part of Project Guardian, a collaborative industry initiative led by the Monetary Authority of Singapore (MAS).
Meanwhile, Zodia Custody and Zodia Markets, two crypto companies owned by British bank Standard Chartered, are aggressively expanding their services across Asia-Pacific (APAC), launching services in Hong Kong, Singapore, Japan and Australia in recent months.
The tokenization opportunity
These developments highlight the increasing convergence of traditional financial services and digital assets as incumbents increasingly turn to DLT and tokenization to increase efficiency, lower operational costs, and improve accessibility and transparency.
Global management consultancy Roland Berger forecasts that the market for asset tokenization could mushroom to at least US$10 trillion by 2030, representing a 40-fold increase in the value of tokenized assets from 2022 to 2030.
The value of tokenized assets by 2030, Source: Roland Berger, Oct 2023


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	]]></description><link>https://fintechnews.eu/traditional-financial-institutions-accelerate-digital-assets-efforts</link><guid>3407</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Traditional Financial Institutions Accelerate Digital Assets Efforts</dc:text></item><item><title>Instant Payments Availability: European Parliament Reach Agreement</title><description><![CDATA[
									
					
							
					The Council and the European Parliament have reached a political agreement on the instant payments proposal, which will improve the availability of instant payment options in euro to consumers and businesses in the EU and in EEA countries.
The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.
Instant payments allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The provisional agreement takes into consideration particularities of non-euro area entities.


   




Under the provisionally agreed rules, payment service providers such as banks, which provide standard credit transfers in euro, will also be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.
The Council and Parliament agreed that the new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, who need more time to adjust.
The colegislators agreed to grant access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The colegislators added appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.
Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.
The Council and Parliament included a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.
Background
This initiative comes in the context of the completion of the Capital Markets Union. In March 2021 and April 2022 the Council adopted conclusions in which it highlighted the widespread use of instant payments and recalled the objective of developing competitive EU-wide market-based payment solutions.
On 26 October 2022 the Commission put forward a proposal for a regulation on instant credit transfers in euro. It amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.
The aim of the draft regulation is to increase the uptake of euro instant credit transfers and to facilitate the access to such services for consumers and businesses in the Union. There will be the following requirements regarding euro instant payments:

making instant euro payments universally available, with an obligation on EU payment service providers that already offer credit transfers in euro to offer also their instant version
making instant euro payments affordable, with an obligation on payment service providers to ensure that the price charged for instant payments in euro does not exceed the price charged for traditional, non-instant credit transfers in euro
increasing trust in credit transfers, with an obligation on providers to verify the match between the bank account number (IBAN) and the name of the beneficiary provided by the payer in order to alert the payer of a possible mistake or fraud before the payment is made
removing friction in the processing of instant euro payments while preserving the effectiveness of screening of persons that are subject to EU sanctions, through a procedure whereby payment service providers will verify at least daily their clients against EU sanctions lists, instead of screening all transactions one by one


Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/instant-payments-availability-european-parliament-reach-agreement</link><guid>3406</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Instant Payments Availability: European Parliament Reach Agreement</dc:text></item><item><title>McKinsey Fintech Study: A New Paradigm of Growth</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 8, 2023
																				





					
					
							
					After decades of exponential growth, the fintech sector is now facing a notable slowdown that can be attributed to several factors, including market correction, challenging macroeconomic conditions and changing investor sentiment. Looking ahead, McKinsey predicts that although the fintech industry will continue facing challenges, several massive opportunities still exist and are up for grabs.
In a new report titled “Fintechs: A new paradigm of growth”, the global consultancy firm provides an in-depth analysis of the fintech industry, delving into the sector’s evolution and exploring its trajectory towards a more sustainable and profitable future.
According to the report, in the latter half of the 2010s, the global fintech industry recorded substantial growth with venture capital (VC) funding increasing 17% year-over-year (YoY) from US$19.4 billion in 2015 to US$33.3 billion in 2020. This growth accelerated in 2021 driven by the COVID-19 pandemic, with fintech funding reaching US$92.3 billion that year, representing a 177% YoY increase.


   




However, in 2022, a market correction and a challenging business environment triggered a slowdown in the sector’s explosive growth momentum, prompting a decline in funding and deal activity, a decrease in new unicorn creation, and a slowdown in initial public offerings (IPOs) and special purpose acquisition company (SPAC) listings. In 2022, fintech funding dropped by 40% YoY in 2022 to US$55 billion, the data show.
Growth opportunities in the fintech sector
Despite these challenges, fintech companies have opportunities for growth, with revenues in the fintech industry expected to grow almost three times faster than those in the traditional banking sector between 2022 and 2028, McKinsey claims.
In 2022, fintech companies accounted for 5% (or US$150 billion to US$205 billion) of the global banking sector’s net revenue, according to the firm’s estimates. By 2028, this share could increase to more than US$400 billion, representing a 15% annual growth rate of fintech revenue between 2022 and 2028, or three times the overall banking industry’s growth rate of roughly 6%.
McKinsey expects emerging markets to fuel much of this revenue growth. In Africa, Asia-Pacific (excluding China), Latin America, and the Middle East, fintech revenues represented 15% of fintech’s global revenue last year. This share is set to increase to 29% in aggregate by 2028. On the other hand, North America, which accounted for 48% of worldwide fintech revenues in 2022, is expected to decrease its share to 41% by 2028.
Fintech net revenues by region, US$ billion, Source: Fintechs: A new paradigm of growth, McKinsey, October 2023
This growth will be driven by the profound digital transformation that the banking sector is currently undergoing. McKinsey highlights that digital adoption is no longer a question but a reality with around 73% of the world’s interactions with banks now taking place through digital channels.
Globally, retail consumers are recording the same level of satisfaction and trust in fintech companies as they have with incumbent banks, the report says. In fact, 41% of retail consumers surveyed by McKinsey in 2021 said that they planned to increase their fintech product exposure.
Business-to-business (B2B) firms’ demand for fintech solutions is also growing. In 2022, 35% of the small and medium-size enterprises (SMEs) in the US considered using fintech companies for lending, better pricing, and integration with their existing platforms. And in Asia, 20% of SMEs leveraged fintech companies for payments and lending.
Two verticals in the B2B fintech sector are expected to continue seeing strong traction: banking-as-a-service (BaaS) and embedded finance, as well as small and medium-sized enterprise (SME) and corporate value-added services.
In the BaaS and embedded finance area, demand will be led by customer-facing businesses looking to control their users’ end-to-end experience and create new revenue streams, the report says. Meanwhile, demand for fintech solutions targeting SMEs will continue to grow as smaller-sized businesses remain a vastly underserved segment by the traditional financial sector.
A new market reality
McKinsey notes that amid a more challenging funding environment, fintech companies must adapt to the new market reality by emphasizing revenue generation and profitability.
This should be done by following a set of rules and changing their areas of focus, the report says. These include ensuring that there is a strong and stable core business with a targeted and proven market fit before expanding, rather than trying to grow while strengthening the core; implementing strict cost management efforts; and ensuring that the profitability view is embedded across the business.
Fintech companies must also maintain the agility, innovation and culture that have been the bedrock of disruption so far, by, for example, embracing technologies such as generative artificial intelligence (AI), as well as adjusting their operating models to become for agile and flexible.
Finally, some businesses will continue to pursue acquisition opportunities, capitalizing on the VC slowdown and the global markets turmoil to snap up smaller companies at a discount. These companies are viewing mergers and acquisitions (M&amp;A) as a means to consolidate their market position, acquire new technologies or expand into new customer segments.
A recent study by international law firm White and Case revealed that more than 55 consolidation deals have been recorded in the previous 15 months in Europe’s fintech sector, showcasing a dynamic M&amp;A landscape. In addition, over 20 significant partnerships have been announced in the past 12 months to tap new niches and access tech capabilities.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/mckinsey-fintech-study-a-new-paradigm-of-growth</link><guid>3405</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Growth-Prospects-in-Fintech-Remain-Solid-Despite-Challenging-Macro-Environment-Market-Correction-1440x564_c.jpg</dc:content ><dc:text>McKinsey Fintech Study: A New Paradigm of Growth</dc:text></item><item><title>Top Q3 2023 Fintech Funding Trends</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 7, 2023
																				





					
					
							
					In Q3 2023, digital lending saw the largest funding jump among all major fintech categories, with companies in the sector securing a total of US$1.7 billion through 60 deals, data from market intelligence platform CB Insights show.
These metrics represent a 70% quarter-on-quarter (QoQ) increase in funding volume from Q2’s US$1 billion but a 56% QoQ decrease in deal count from 136 during the prior quarter.
Global digital lending funding by quarter, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Digital lending’s funding boost was driven in part by later-stage mega-rounds, which brought in more than half of the sector’s quarterly funding. India-based data analytics solution Perfios raised the largest digital lending round (US$229 million Series D), followed by Indonesia’s Amartha (US$206 million), the UK’s Fleximize (US$168 million) and the US’s PayJoy (US$150 million Series C).


   




With a total of US$900 million secured, Asia led the world in digital lending funding, ahead of the US (US$500 million) and Europe (US$300 million).
Digital lending: Top equity deals in Q3 2023, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
After digital lending, insurtech was the second largest fintech segment by VC funding, securing a total of US$1.1 billion in Q3 2023. The segment led in deal count, with 119 funding rounds recorded during the quarter. The figures represent a 22% QoQ increase in funding volume and a 20% increase in deal count.
The US make up the lion’s share of insurtech funding in Q3 2023 (55%), followed by Europe (21%) and Asia (15%).
Global insurtech funding in Q3 2023, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Insurtech companies Openly (US$100 million) and Resilience (US$100 million), both from the US, Tractable from the UK (US$65 million) and Leads Connect from India (US$63 million) raised the largest rounds of the quarter.
Top insurtech equity deals in Q3 2023, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Following digital lending and insurtech, payments was the third largest fintech segment by funding volume (US$1.1 billion). The sector is followed by banking and capital markets tech, both at US$300 million, and wealthtech at US$200 million.
Global fintech funding in Q3 2023 by category, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Global fintech funding stagnates; Asia sees uptick
Fintech funding continued its downtrend in Q3 2023, totaling US$7.4 billion through 754 deals in Q3 2023, the data show. The figures represent a 3% QoQ decline in funding volume and 18% QoQ decline in deal count.
Global fintech funding by quarter, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
The fintech funding stabilization was supported by the return of US$100 million mega-rounds, which rose 50% QoQ to hit US$2.4 billion in Q3 2023. Mega-rounds accounted for 33% of all fintech funding in Q3 2023, a much larger share than the 22% recorded in Q2 2023.
Share of fintech mega-rounds by quarter, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Asia led in mega-round funding by securing US$1.1 billion across five deals, against US$1 billion for the US, US$200 million for Europe and US$100 million for Latin America.
Asia was also the only region to record an increase in fintech funding in Q3 2023, securing a total of US$2 billion in fintech funding, up 82% QoQ.
The uptick was driven by large rounds of funding closed by fintech startups located in the region. These deals included Micro Connect’s US$458 million Series C (Hong Kong), Perfios’ US$229 million Series D (India), Amartha’s US$206 million round (Indonesia) and Veritas Finance’s US$146 million Series F (India).
Quarterly fintech funding in Asia, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Although US fintech companies drove almost half (47%) of all quarterly fintech funding in Q3 2023 by securing US$3.5 billion, US fintech funding dropped by 5% QoQ.
European fintech companies, meanwhile, raised a total of US$1.3 billion through 181 deals in Q3 2023, down from the US$1.9 billion raised through 247 rounds in Q2 2023.
Fintech funding in Q3 2023 by region, Source: State of Fintech Q3 2023, CB Insights, Oct 2023
Fintech enters new era
After decades of hypergrowth and record funding levels, the fintech industry has entered a new era of value creation where the focus is now on sustainable and profitable growth.
In the latter half of the 2010s, the sector witnessed substantial growth with VC funding increasing 17% year-over-year (YoY) from US$19.4 billion in 2015 to US$33.3 billion in 2020, data from global consultancy McKinsey show. This growth accelerated in 2021 due to the pandemic’s effects, with fintech funding reaching US$92.3 billion that year, representing a 177% YoY increase.
However, in 2022, a market correction and a challenging business environment triggered a slowdown in the sector’s explosive growth momentum, prompting a decline in funding and deal activity, a decrease in new unicorn creation, and a slowdown in initial public offerings (IPOs) and special purpose acquisition company (SPAC) listings. In 2022, fintech funding dropped by 40% YoY in 2022 to US$55 billion, the data show.
Looking ahead, McKinsey predicts that although the fintech industry will continue facing challenges, several massive opportunities still exist and are up for grabs.
In particular, the firm notes that the traditional banking sector is undergoing a profound digital transformation, leading to growing demand for fintech solutions catering to traditional lenders and banks.
It also notes that businesses and corporate are increasing turning to fintech solutions, fueling growth in the business-to-business (B2B) fintech category. It claims that two B2B verticals in particular are seeing strong traction: banking-as-a-service (BaaS) and embedded finance, as well as small and medium-sized enterprise (SME) and corporate value-added services.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/top-q3-2023-fintech-funding-trends</link><guid>3404</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Top-Q3-2023-Fintech-Funding-Trends-1440x564_c.jpg</dc:content ><dc:text>Top Q3 2023 Fintech Funding Trends</dc:text></item><item><title>Worldline spannt mit Samsung Schweiz, Digitec Galaxus und Mastercard zusammen</title><description><![CDATA[
									
					
							
					Worldline ist eine wegweisende Zusammenarbeit mit Samsung Electronics Switzerland GmbH, Mastercard und Digitec Galaxus, eingegangen, um Kleinhändlern die Abwicklung von Zahlungen zu vereinfachen.
Mit im Boot als Smartphone-Lieferant ist Samsung: das Samsung A14 wird mit Hilfe der Zahlungs-App “Tap on Mobile” von Worldline zur mobilen Kasse für Unternehmen.
Mit „Tap on Mobile” erübrigt sich die herkömmliche Hardware. Die App von Worldline auf dem vorkonfigurierten Android Smartphone bietet vielseitige Anwendungsmöglichkeiten, insbesondere für kleine und mittelständische Geschäfte und Betriebe, sowie Dienstleister, die mobile Services nutzen und unterwegs Zahlungen entgegennehmen möchten.


   




Die App mit Verknüpfung zum Google Playstore verwandelt das Samsung A14 LTE Smartphone in ein mobiles Zahlterminal, mit dem problemlos kontaktlose Zahlungen akzeptiert werden können, während gleichzeitig herkömmliche Telefongespräche möglich sind. Für „Tap on Mobile“ registrieren kann man sich über die Worldline Landingpage, die auf dem Samsung A14 als Shortcut hinterlegt ist.
Es fallen keine monatlichen Fixkosten an, stattdessen wird eine Gebühr von 1,7 % pro Transaktion erhoben.
Des Weiteren bietet Digitec Galaxus jetzt Galaxus Mobile, ein günstiges Handy-Abo mit 5G-Geschwindigkeit im Sunrise Netz an. Die von Digitec Galaxus angebotenen Samsung-Handys mit “Tap on Mobile” App sind ab dem 30. Oktober 2023 erhältlich.
Das Samsung Galaxy A14 LTE Worldline Tap on Mobile Edition wird zu einem Aktionspreis verkauft plus einem zusätzlichen Worldline &amp; Mastercard Cashback im Wert von 50.- Franken.
Marc Schluep
Dazu sagt Marc Schluep, Managing Director von Worldline Schweiz:
„Unsere Partnerschaft mit Samsung, Mastercard und Digitec Galaxus ist ein weiterer Schritt in unserer Mission, die Zahlungsabwicklung für Händler, unabhängig von ihrer Grösse, so unkompliziert wie möglich zu gestalten. Bei Worldline glauben wir fest daran, dass innovative Technologien und starke Partnerschaften die Brücke in eine Zukunft schlagen können, in der mobile Zahlungen nahtlos und effizient abgewickelt werden. Unsere ‘Tap on Mobile’ App auf dem Samsung A14 ist ein bedeutender Schritt in diese Richtung, und wir freuen uns darauf, die Art und Weise, wie Händler Geschäfte abwickeln, zu revolutionieren.”


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	]]></description><link>https://fintechnews.eu/worldline-spannt-mit-samsung-schweiz-digitec-galaxus-und-mastercard-zusammen</link><guid>3403</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Worldline spannt mit Samsung Schweiz, Digitec Galaxus und Mastercard zusammen</dc:text></item><item><title>PwC Switzerland Invests CHF 50 Million Into AI</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 6, 2023
																				





					
					
							
					PwC is significantly stepping up its efforts in the field of artificial intelligence (AI).
Over the next three years, PwC Switzerland will invest CHF 50 million in its own AI solutions, in staff training and in its AI Centre of Excellence. This investment continues PwC’s long-standing commitment to AI and strengthens the firm’s ability to develop new solutions that are tailored to clients’ needs and technologically advanced.
PwC USA invests a total of USD 1 billion
The efforts are complemented by PwC USA’s decision to invest a total of USD 1 billion in AI. Moreover, the PwC network has been committed to AI for years: according to IDC and Forrester, PwC is the world’s leading provider of AI services, as evidenced by outstanding, innovative projects with its clients and within its own organisation.


   




Andreas Staubli
“Our investment includes the development and application of AI-based solutions within PwC. We also place great emphasis on ensuring that our people receive comprehensive upskilling in the application of AI. At the same time, we are establishing our AI Centre of Excellence, which will bring together our leading experts from different areas to develop new solutions and advise our clients on the application of AI. Through this expansion, we are creating an additional competitive advantage for our clients and support them in finding a responsible approach to AI,”
says Andreas Staubli, CEO PwC Switzerland.
Most recently, PwC launched its generative AI conversation assistant – ChatPwC – for all its business units. With private domain access to Microsoft Azure OpenAI, ChatPwC is a secure conversation assistant tailored specifically to PwC’s needs. In addition, PwC Switzerland has developed the Intelligent Search Assistant. This solution is designed to provide answers for internal business services.

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		]]></description><link>https://fintechnews.eu/pwc-switzerland-invests-chf-50-million-into-ai</link><guid>3402</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/PwC-Switzerland-Invests-CHF-50-Million-to-Expand-Its-AI-Capabilities-1440x564_c.jpg</dc:content ><dc:text>PwC Switzerland Invests CHF 50 Million Into AI</dc:text></item><item><title>Swisscom Launches E-Signature “E-Sign”</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 6, 2023
																				





					
					
							
					With the launch of “Swisscom Sign,” Swisscom is making the electronic signature easily accessible for everyone. To qualify users for legally valid electronic signatures, Swisscom relies on ti&amp;m‘s identification software.
The new feature “Swisscom Sign” within the existing Swisscom app allows any user to use qualified electronic signatures online for transactions or contract agreements. By integrating this new service, Swisscom is responding to the trend to use digital signature processes for both business and personal contract agreements. The digitalization of the signature process simplifies contract agreements for all parties involved and reduces administrative efforts.
Raffael Knecht
“We are pleased to provide Switzerland with a simple and secure electronic signature through our Swisscom Sign. With ti&amp;m, we have an experienced Swiss partner for online identification software by our side.”
– Raffael Knecht, Deputy Head FinTech &amp; Digital Trust, Swisscom.


   




In Swisscom’s new signature process, ti&amp;m is responsible for the straightforward, rapid, and legally valid identification of customers. ti&amp;m’s online identification software is seamlessly integrated into the Swisscom app, ensuring a user-friendly journey as customers remain within the Swisscom app throughout the entire process. The identification from ti&amp;m enables the issuance of a qualified electronic signature that can be used repeatedly for various contract agreements and transactions in Switzerland and the EU.
Thomas Wüst
“We are proud that Swisscom, one of Switzerland’s leading digitalization companies, relies on ti&amp;m’s online identification. I am convinced that this partnership will make electronic signature processes more widely accepted.”
– Thomas Wüst, CEO of ti&amp;m.



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		]]></description><link>https://fintechnews.eu/swisscom-launches-e-signature-e-sign</link><guid>3399</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/Swisscom-Sign-The-Electronic-Signature-for-Everyone-From-Swisscom-Uses-tims-Online-Identification-Software-1440x564_c.jpg</dc:content ><dc:text>Swisscom Launches E-Signature “E-Sign”</dc:text></item><item><title>Netcetara Takes Over Majority Stake in Financial Consultancy Braingroup</title><description><![CDATA[
									
					
							
					Netcetera AG increases its existing stake in Braingroup AG and obtains the majority.
With its product business for hybrid financial consulting, Braingroup focuses on the Swiss banking and insurance environment. The acquisition of the shares is a significant step for both companies and consolidates the close cooperation of more than 15 years of the partners. Together, they cover the future requirements of the market with a future-proof end-to-end offering from mobile and web banking to consulting – driving digital transformation.
Netcetera has signed an agreement to acquire 45 percent of Braingroup by the end of August 2023 (the transaction is subject to approval by regulatory commissions). With the 33 percent, which Netcetera has already held since 2008, the software company takes over the majority. The remaining shares are held by Braingroup’s leadership team.


   




Braingroup is a market leader for modern hybrid financial advisory software in the Swiss banking and insurance environment. Its solutions cover both online and face-to-face advisory formats – from preparing the discussion to closing the deal. With around 3100 users at over 105 financial service providers, Braingroup is firmly established in the Swiss market.
Alliance with clout: mobile banking and advisory services
The acquisition is in line with Netcetera’s long-term growth strategy and ongoing investments in its Digital Banking offering. Braingroup’s hybrid advisory solution, integrated into Netcetera’s “mobile first” banking solution, optimally covers the needs of financial service providers. This enables banks and insurance companies to perfect their customer interfaces and create differentiating market advantages.
Carsten Wengel
Carsten Wengel, CEO of Netcetera, emphasizes:
“This investment further strengthens our position in the Swiss market and opens a holistic Digital Banking offering to the financial industry. I am extremely pleased that Braingroup’s 51 experts will now act even more closely coordinated with Netcetera. Our cumulative expertise and experience with digital value creation in the financial services sector give us tremendous clout. This will enable us to further drive development and digitalization in the market – to the benefit of our clients and their users.”
Braingroup will continue to operate independently as a strong Swiss brand, complementing Netcetera’s Digital Banking portfolio. Netcetera will take over two seats on the Board of Directors.
Daniel Bareiss
Daniel Bareiss, member of the Leadership Team and Chairman of the Board of Directors of Braingroup:
“We are very pleased about Netcetera’s renewed confidence in Braingroup. Following our successful cooperation since 2008, this majority shareholding illustrates the strong commitment of both partners to optimize the digital offering for our clients.”


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/netcetara-takes-over-majority-stake-in-financial-consultancy-braingroup</link><guid>3400</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Netcetara Takes Over Majority Stake in Financial Consultancy Braingroup</dc:text></item><item><title>Netcetera Takes Over Majority Stake in Financial Consultancy Braingroup</title><description><![CDATA[
									
					
							
					Netcetera AG increases its existing stake in Braingroup AG and obtains the majority.
With its product business for hybrid financial consulting, Braingroup focuses on the Swiss banking and insurance environment. The acquisition of the shares is a significant step for both companies and consolidates the close cooperation of more than 15 years of the partners. Together, they cover the future requirements of the market with a future-proof end-to-end offering from mobile and web banking to consulting – driving digital transformation.
Netcetera has signed an agreement to acquire 45 percent of Braingroup by the end of August 2023 (the transaction is subject to approval by regulatory commissions). With the 33 percent, which Netcetera has already held since 2008, the software company takes over the majority. The remaining shares are held by Braingroup’s leadership team.


   




Braingroup is a market leader for modern hybrid financial advisory software in the Swiss banking and insurance environment. Its solutions cover both online and face-to-face advisory formats – from preparing the discussion to closing the deal. With around 3100 users at over 105 financial service providers, Braingroup is firmly established in the Swiss market.
Alliance with clout: mobile banking and advisory services
The acquisition is in line with Netcetera’s long-term growth strategy and ongoing investments in its Digital Banking offering. Braingroup’s hybrid advisory solution, integrated into Netcetera’s “mobile first” banking solution, optimally covers the needs of financial service providers. This enables banks and insurance companies to perfect their customer interfaces and create differentiating market advantages.
Carsten Wengel
Carsten Wengel, CEO of Netcetera, emphasizes:
“This investment further strengthens our position in the Swiss market and opens a holistic Digital Banking offering to the financial industry. I am extremely pleased that Braingroup’s 51 experts will now act even more closely coordinated with Netcetera. Our cumulative expertise and experience with digital value creation in the financial services sector give us tremendous clout. This will enable us to further drive development and digitalization in the market – to the benefit of our clients and their users.”
Braingroup will continue to operate independently as a strong Swiss brand, complementing Netcetera’s Digital Banking portfolio. Netcetera will take over two seats on the Board of Directors.
Daniel Bareiss
Daniel Bareiss, member of the Leadership Team and Chairman of the Board of Directors of Braingroup:
“We are very pleased about Netcetera’s renewed confidence in Braingroup. Following our successful cooperation since 2008, this majority shareholding illustrates the strong commitment of both partners to optimize the digital offering for our clients.”


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/netcetera-takes-over-majority-stake-in-financial-consultancy-braingroup</link><guid>3401</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Netcetera Takes Over Majority Stake in Financial Consultancy Braingroup</dc:text></item><item><title>DZ BANK startet eigene Crypto Verwahrung</title><description><![CDATA[
									
					
							
					Deutschland’s DZ BANK hat eine neue Plattform für die Abwicklung und Verwahrung digitaler Finanzinstrumente in Betrieb genommen.
Damit gehört das genossenschaftliche Institut zu den ersten Kreditinstituten, die auf Basis der Blockchain-Technologie ein solches Angebot für institutionelle Kunden auf den Weg gebracht haben. Die DZ BANK ist mit einem Volumen von über 300 Mrd. EUR nach BNP Paribas und State Street die drittgrößte Verwahrstelle in Deutschland, unter den deutschen Verwahrstellen ist sie die größte.
Holger Meffert
„Wir gehen davon aus, dass innerhalb der nächsten zehn Jahre wesentliche Anteile des Kapitalmarktgeschäfts über Distributed Ledger Technologie (DLT) basierte Infrastrukturen abgewickelt werden. Auf mittelfristige Sicht sehen wir die DLT als komplementäre Technologie zu den etablierten Infrastrukturen in den bestehenden Kapitalmarktprozessen“,
sagt Dr. Holger Meffert, Leiter Wertpapierservices &amp; Digitalverwahrung bei DZ BANK. Zum Betrieb der neuen Verwahrlösung hat die Bank mehr als ein Dutzend Mitarbeiter in IT, Operations und Compliance neu eingestellt.


   




Bereits seit Jahren beschäftigt sich die Bank mit der Blockchain-Technologie, 2022 hat sie mit dem Aufbau der Digitalverwahrplattform für institutionelle Kunden begonnen. Hier wird sie zunächst Kryptowertpapiere in die Verwahrung nehmen.
Dazu gehört eine Krypto-Anleihe von Siemens, die Union Investment und DZ BANK bereits vor einem halben Jahr gezeichnet haben und die nun in die Eigenverwahrung übertragen werden konnte. Zuvor war die DZ BANK bereits als Abwickler und Verwahrer an der ersten externen Transaktion von Kryptofondsanteilen des Bankhauses Metzler beteiligt. Da beide Fälle in den Anwendungsbereich des elektronischen Wertpapiergesetzes (eWpG) fallen, ist eine Verwahrung mit den vorhandenen Lizenzen bereits möglich.
Um institutionellen Kunden künftig auch die Investition in Kryptowährungen wie Bitcoin zu ermöglichen, hat die DZ BANK im Juni bereits eine Kryptoverwahrlizenz bei der Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) beantragt. Parallel zu der Lösung für institutionelle Kunden, arbeitet die Bank an einem Angebot, mit dem Privatkunden direkt in Kryptowährungen investieren können.
Mit der bestehenden Infrastruktur ist die Bank zudem in der Lage, aktiv an der Explorationsphase der Europäischen Zentralbank (EZB) teilzunehmen, in der das Settlement großvolumiger Kapitalmarkttransaktionen in Zentralbankgeld verprobt wird.


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	]]></description><link>https://fintechnews.eu/dz-bank-startet-eigene-crypto-verwahrung</link><guid>3398</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>DZ BANK startet eigene Crypto Verwahrung</dc:text></item><item><title>Nuvei and American Express Collaborate</title><description><![CDATA[
									
					
							
					Pay with Bank transfer, powered by American Express (“PwBt”), announces it has selected Nuvei, the Canadian fintech company, as its first acquirer authorised to promote and sell PwBt’s Open Banking-enabled payment method.
The innovative payment method enables consumers to complete transactions seamlessly from their bank accounts, without having to enter card details or complete additional authentication checks. For merchants, PwBt delivers a frictionless payment where funds are reconciled instantly, with attractive processing fees. Nuvei will be promoting PwBt to both existing and prospective UK merchants, supporting them with the integration of the Open Banking payment method into their ecommerce platforms.
In the UK, more than seven million consumers are making payments directly from their bank accounts that are powered by Open Banking. Companies in the travel and utility sectors have been early adopters, with the security benefits of PwBt making it an attractive option for high value, one off payments, such as holidays, and seamless and instant bill payments.


   




Nuvei customers will be able to integrate PwBt directly into their online checkout through their existing connection to Nuvei technology. Nuvei’s agile and customizable full stack payments solution enables online businesses to optimize their checkouts and back-end payments flow through one connection, streamlining relationships and giving a single view of all payments data from all customer transactions.
Philip Fayer
Philip Fayer, Nuvei Chair and CEO, commented:
“We’re proud to be offering Pay with Bank transfer to our merchant partners to help them meet growing customer demand for efficient, secure payment options.
“Our mission is to enable our customers to get closer to their customers through payments, wherever they are and however they want to pay. Powered by American Express, but available to anyone with a UK bank account, we know Pay with Bank transfer goes above and beyond to ensure a secure, yet frictionless, service that is available to everyone, and we’re delighted to be working together to bring these benefits to a new customer base.”
All Nuvei partners that sell to consumers in the UK can now instantly integrate PwBt. The technology is powered by American Express but open to everyone with a UK bank account, meaning that customers can benefit from the frictionless payment method and enjoy American Express’ bank-level security.
Diving deeper into exploring what needs to happen to fully realise the potential of Open Banking payments from entering the mainstream, Nuvei and American Express are publishing a co-authored whitepaper: Reaching the tipping point: What needs to happen to realise the potential of Open Banking payments. The whitepaper examines consumer attitudes, awareness and understanding of Open Banking payments, and explores the factors which could be influencing or inhibiting merchant adoption.
Reaching the tipping point: What needs to happen to realise the potential of Open Banking payments is available to download now.

This article first appeared on fintechnews.am



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	]]></description><link>https://fintechnews.eu/nuvei-and-american-express-collaborate</link><guid>3397</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>Nuvei and American Express Collaborate</dc:text></item><item><title>TP24 Hires New CFO</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 3, 2023
																				





					
					
							
					TP24 (former Tradeplus24) introduced its new Chief Financial Officer, David Miller.
David brings over 12 years of expertise to our team, acquired through a dynamic career journey spanning various finance, risk, compliance, and M&amp;A functions within regulated Swiss financial service organizations.
Before he joined TP24 he was for working for GE Capital and Cembra Money Bank.


   






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		]]></description><link>https://fintechnews.eu/tp24-hires-new-cfo</link><guid>3394</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/11/TP24-New-Chief-Financial-Officer-1440x564_c.jpg</dc:content ><dc:text>TP24 Hires New CFO</dc:text></item><item><title>St.Galler Kantonalbank Launched Digital Asset Services in Switzerland</title><description><![CDATA[
									
					
							
					SEBA Bank has launched its partnership with St.Galler Kantonalbank (SGKB), Switzerland’s fifth largest cantonal bank, earlier this year to enable digital asset custody and brokerage services for SGKB’s clients.
After a short implementation time, the SGKB’s service is now live.
Having obtained its FINMA banking license in 2019, SEBA Bank is among the first financial institutions to bring digital assets to the Swiss landscape and provides B2B solutions tailored to a diverse range of institutions, including both private and retail banks such as LGT Bank Liechtenstein, Bank Julius Baer, and now SGKB. Zug-based SEBA offers fully regulated, institutional-grade crypto custody solutions, providing advanced banking services that match their clients’ investment needs in digital assets.


   




Christian Bieri
Christian Bieri, Head B2B &amp; Custody Solutions at SEBA Bank said,
“As a licensed and FINMA-regulated Swiss bank with a core competence in cryptocurrencies and digital assets, we enable banks and their clients to handle traditional and digital assets securely. The full suite of banking services combined with the highest security standards expected of a Swiss financial institution, make SEBA Bank’s service offering unique. We are very pleased to be able to support St.Galler Kantonalbank with our expertise in expanding their services around digital assets.”
St. Galler Kantonalbank’s first step into the digital asset space is a milestone for the financial institution and wider industry. In line with SGKB’s commitment to innovation and customer satisfaction, this partnership will empower the bank’s clients to seamlessly integrate cryptocurrencies into their existing investment portfolios. SGKB is launching custody and trading services for Bitcoin (BTC) and Ethereum (ETH) to a select group of clients, with plans to expand its offerings to additional cryptocurrencies based on client demand.
Falk Kohlmann
Falk Kohlmann, Head of Market Services at St.Galler Kantonalbank stated,
“We are pleased to offer a select client base access to digital assets and the digital economy. Thanks to our cooperation with SEBA Bank, we’ve implemented a straightforward initial setup, which allows us to learn and grow well aligned to our clients’ needs. We are confident that our clients’ digital assets are protected by the custody of a professional and certified provider with extensive experience in this field.”



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	]]></description><link>https://fintechnews.eu/stgaller-kantonalbank-launched-digital-asset-services-in-switzerland</link><guid>3395</guid><author>Administrator</author><dc:content >https://fintechnews.ch/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg</dc:content ><dc:text>St.Galler Kantonalbank Launched Digital Asset Services in Switzerland</dc:text></item><item><title>Swiss National Bank Launches Pilot Project With CBDC for Financial Institutions</title><description><![CDATA[
									
					
							
					On 1 December 2023, the Swiss National Bank – together with six commercial banks – will start a pilot project with central bank digital currency for financial institutions (wholesale CBDC) on the regulated platform of SIX Digital Exchange (SDX).
With this pilot, called Helvetia Phase III, the SNB will for the first time issue real wholesale CBDC in Swiss francs on a financial market infrastructure based on distributed ledger technology (DLT). The SNB is thus moving its work from test environments into production and is making wholesale CBDC available for the settlement of real bond transactions. The banks involved will carry out the transactions on the DLT platform as intermediaries for issuers and investors. The tokenised bonds will be settled against wholesale CBDC on a delivery-versus-payment basis.
6 Swiss Banks on Board
The pilot with real Swiss franc wholesale CBDC is scheduled to run from December 2023 to June 2024. The participating banks are Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg, UBS and Zürcher Kantonalbank. In addition to the SDX platform, the pilot project will use the SIC infrastructure for the tokenisation of central bank money and that of SIX SIS for integration with the traditional bond settlement infrastructure. Furthermore, SIX Repo and SDX test systems will be used to explore the trading and settlement of repo transactions with wholesale CBDC.


   




DLT and tokenised assets are already being used in some areas of the regulated financial system, where they promise to deliver efficiency gains and greater transparency. If DLT establishes itself in the financial system, the question for central banks is how token transactions between financial institutions can be settled in central bank money. Central bank money, which poses no counterparty risk, could thus continue to play its key role in maintaining the stability and efficiency of the financial system.
In March 2023, the SNB announced that it would examine three models for settling the cash leg of tokenised asset transactions. One model involves the issuance of wholesale CBDC for settling tokenised assets; another involves the linking of settlement systems for tokenised assets with the existing SIC payment system; and a third involves the use of private, bankruptcy-protected token money that is backed by central bank money. The upcoming pilot project adopts the first model, for which the SNB will be able to build on the findings of earlier Project Helvetia phases.
The upcoming pilot does not constitute a commitment on the part of the SNB to introduce wholesale CBDC on a permanent basis. Rather, the SNB aims to test the various models for settling tokenised assets.
Thomas J. Jordan
“For several years now, the SNB has been testing a variety of potential applications for wholesale CBDC. Together with our partners, we have already been able to make important contributions to research in the CBDC field. With this pilot project, we are now, for the first time, making it possible to securely and efficiently settle transactions with tokenised assets on a regulated and productive DLT platform using real wholesale CBDC. We are proud of our internationally pioneering role in this area as we carry out this innovative project together with SIX and the participating banks,”
says Thomas J. Jordan, Chairman of the Swiss National Bank’s Governing Board.


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	]]></description><link>https://fintechnews.eu/swiss-national-bank-launches-pilot-project-with-cbdc-for-financial-institutions</link><guid>3396</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Swiss National Bank Launches Pilot Project With CBDC for Financial Institutions</dc:text></item><item><title>10 Swiss Fintechs at Swiss Pavilion at Singapore Fintech Festival</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						November 2, 2023
																				





					
					
							
					A Swiss delegation representing the best of its financial technologies in the areas of AI, big data &amp; analytics, and cybersecurity will be present at the Singapore Fintech Festival 2023 from 15 to 17 November 2023.
At the Swiss Pavilion, hosted by Switzerland Global Enterprise (S-GE) and the Swiss Business Hub ASEAN, the Switzerland participants will showcase proven fintech expertise and cutting-edge solutions. This year’s festival theme is “Applications of Artificial Intelligence (AI) in Financial Services”.



   




Renee Koh
Renee Koh, Head of Swiss Business Hub ASEAN, said:
“Swiss fintechs have grown more mature as they have emerged from an environment with strong regulatory frameworks that enable a lot of experimentation and testing. In doing so, they have developed a global competitive advantage and participants will bring this to bear at the Swiss Pavilion in Singapore.”
According to the World Intellectual Property Organization (WIPO) Global Innovation Index 2023 report, Switzerland is a leader in technologies such as artificial intelligence and blockchain.
Switzerland is one of the most advanced financial centres in the fintech and blockchain sector with over 1,000 companies operating in innovation-friendly framework conditions. It also became one of the first countries in the world to enact legal regulations for blockchain technology. This creates legal certainty and enables innovation and growth.
Around 50% of financial institutions supervised by the Swiss Financial Market Supervisory Authority (FINMA) currently use AI or have detailed plans to do so, according to its survey conducted in 2022. AI-based applications are essentially deployed in their front offices and for process optimisation purposes. Other areas of application include for example compliance and conduct, financial risk management, system monitoring and language translation.
One of the advocates for greater integration of AI in fintech, Modulos AG, aims to showcase its ‘Responsible AI Platform,’ which operationalises AI governance and ensures seamless alignment with international AI regulations.

Swiss Pavilion Exhibitors:
Adnovum

Adnovum is a Swiss IT company with core competencies that include the development of customized software, security and IAM solutions, as well as security consulting. Our client focus is on companies that want to differentiate themselves through future-oriented solutions, among them banks, insurers, transport and logistics companies and the public sector. For more than 30 years, Adnovum has been engineering and maintaining software and security solutions for established clients. As a full-service technology partner, we support our clients in the implementation of new business models from the initial idea to the rollout in production. In doing so, we combine tried and tested products with tailor-made components and state-of-the-art technologies.
Adviscent

Adviscent is Swiss software company which empowers Wealth Managers to seamlessly leverage their research and investment content for the benefit of Relationship Managers and Clients. To achieve this, Adviscent has pioneered a cutting-edge software system designed to write, format, and effortlessly distribute research and investment articles across a multitude of channels, including E- Banking platforms, mobile applications, and Relationship Manager Workplaces. Adviscent has its client base in Switzerland, Singapore, Luxembourgand the Middle East.
ERI

ERI is the provider of the OLYMPIC Banking System, a fully integrated, front-to-back, parameter-driven digital platform supporting banks and financial institutions in streamlining their core business activities across their clients’ entire lifecycle. Over 400 banks and financial institutions across 60 countries have chosen OLYMPIC Banking System to streamline, automate and digitise their daily processes. Our solutions assist banks and financial institutions in achieving cost and operational efficiency while keeping the focus on anticipating their clients’ needs.
The platform provides a complete set of decision-making, transaction processing and control tools to support domestic and international core services. It comprises a functionally rich client centric Core System and a wide range of integrated front, middle and back-office functions: CRM, Client On-boarding, Regulatory Reporting, Portfolio and Order Management, Advisory and Digital Banking.
Modulos

Modulos AG, founded in 2018 and headquartered in Switzerland, stands at the forefront of AI technology. The company specializes in supporting organizations to develop and operate AI products and services within regulated environments. The Modulos Responsible AI platform empowers businesses to enact responsible AI governance policies, while simultaneously streamlining compliance through industry best practices. In navigating the complex landscape of AI, Modulos AG uniquely combines technological innovation with ethical responsibility to deliver impactful solutions.
RepRisk

Founded in 1998 and headquartered in Switzerland, RepRisk is a pioneer in ESG data science that leverages the combination of AI and machine learning with human intelligence to systematically analyze public information and identify material ESG risks. RepRisk’s flagship product, the RepRisk ESG Risk Platform, is the world’s largest and most comprehensive due diligence database on ESG and business conduct risks, with expertise in 23 languages and coverage of 225,000+ public and private companies and 60,000+ infrastructure projects. For 16+ years, the world’s leading financial institutions and corporations have trusted RepRisk for due diligence and risk management across their operations, business relationships, and investments.
Securosys

Securosys: Your trusted partner for protecting your digital identities, keys, and secrets. Securosys SA, based in Zurich, is a global leader in cyber security and encryption, prioritizing data sovereignty. Our Swiss-built Hardware Security Modules (HSM) secure financial markets, serving Tier 1 banks worldwide. Certified to the highest standards, our on-premise and cloud HSM solutions offer secure key generation, encryption, and digital signing for finance, healthcare, and other sectors.
SIX

SIX operates and develops infrastructure services for the Swiss and Spanish Stick Exchanges, for Post Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers.
For more than 90 years, SIX has provided financial data and services the industry needs: high-quality data, from all over the world, delivered at the right time, in the right way. From our core reference data on securities, prices, corporate events, tax and regulatory data, to our flagship indices and bespoke benchmarks, SIX offers added-value services that smoothly integrate with your workflows. We free your time and attention to spend on growing your business.
SwissCham Singapore

SwissCham is a non-profit organization representing Swiss business in Singapore and bridging bilateral commercial interests as well as encouraging knowledge creation and networking. SwissCham currently represents over 250 members ranging from startups to large multinationals, creating over 20,000 jobs in Singapore. SwissCham members get access to a community with a broad range of events and the possibility to easily network with other members. SwissCham supports members with their queries on setting up business, or any other SG matters. In addition, members have exclusive access to other chambers’ events. SwissCham’s 8 Sub-committees bring together subject matter experts to discuss cutting-edge topics. The main objectives of SwissCham Singapore are fostering the Swiss Community by providing a strong network; using knowledge for effective lobbying; remaining relevant through increasing membership portfolio and links to public and private institutions.
UBS

UBS is the largest truly global wealth manager and the leading universal bank in Switzerland. It also provides large-scale and diversified asset management solutions and focused investment banking capabilities. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm has operations and offices around the globe. UBS shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
WebAccountPlus

Introducing WebAccountPlus – the future of corporate advisory. Harness the power of advanced AI-driven insights and step into a world where data analytics meets unparalleled efficiency. Our fully digitalized multi-location and multi-tenancy platform offers cutting-edge multi-location accounting solutions, ensuring you’re always in control no matter where your business takes you. All these features are seamlessly integrated on the cloud, providing instant access, real-time updates, and top-tier security. WebAccountPlus is not just a tool, it’s your digital partner, geared to propel your business to new heights. Embrace the future, empower your decisions, and elevate your operations with WebAccountPlus.

This article first appeared on fintechnews.sg


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	]]></description><link>https://fintechnews.eu/10-swiss-fintechs-at-swiss-pavilion-at-singapore-fintech-festival</link><guid>3393</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/11/Swiss-Fintechs-to-Showcase-Transformative-Knowhow-at-Singapore-Fintech-Festival-2023-1440x564_c.jpg?x75906</dc:content ><dc:text>10 Swiss Fintechs at Swiss Pavilion at Singapore Fintech Festival</dc:text></item><item><title>Generali Starts with € 250 Million Venture Capital Fund</title><description><![CDATA[
									
					
							
					Generali Ventures is underway: the venture capital initiative launched by Generali to accelerate innovation, enter new markets and generate additional operating efficiencies for the Group.
With a dedicated commitment of € 250 million, Generali Ventures will identify the most promising investment opportunities, with a particular focus on the insurtech and fintech sectors.
Launched in 2022, after an in-depth analysis of over 100 venture capital funds, Generali Ventures has invested in three strategic initiatives: Mundi Ventures, specialized in insurtech technologies; Speedinvest, focused on start-ups in the early pre-seed and seed stages; and Dawn, focused on investing in B2B software solutions.


   




The search for external innovation spans a broad spectrum of technologies that are revolutionising the insurance industry, including areas such as mobility, artificial intelligence, cyber security and healthcare. Investment targets include innovative start-ups, both pre-seed and late stage, with a geographic focus extending to VC funds in Europe and the United States.
Bruno Scaroni
Bruno Scaroni, Group Chief Transformation Officer of Generali, said:
“As set out in our ‘Lifetime Partner 24: Driving Growth’ strategic plan, Generali is an innovative customer-oriented Group, focused on the best possible use of data and emerging technology. Thanks to this new venture capital initiative, we will make long-term investments in the global innovation ecosystem. Generali Ventures will also have a positive impact on the insurance sector, boosting the development of innovative projects, opening up new opportunities for collaboration and integrating initiatives that contribute to the overall transformation of the Group.”
Generali Ventures is part of the “Lifetime Partner 24: Driving Growth” strategic plan, which includes € 1.1 billion of cumulative investments in the digital and technological transformation of the Group. Leading innovation and digital transformation represents one of the three pillars on which the strategy is built, as the Group is committed to developing sustainable business models for the future, increasing customer value through the “Lifetime Partner” advisory model, accelerating innovation as a data-driven company and to achieving additional operating efficiency by scaling automation and technology.


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		]]></description><link>https://fintechnews.eu/generali-starts-with-250-million-venture-capital-fund</link><guid>3392</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Generali Starts with € 250 Million Venture Capital Fund</dc:text></item><item><title>Modernization Meets AI as Instant Payments Define the Future</title><description><![CDATA[
									
						
																				
																			
												
															
									by Sylvie Boucheron-Saunier, Global Chief Revenue Officer, Payments at Finastra								
																						November 1, 2023
																				





					
					
							
					The financial services landscape is radically transforming, driven by evolving customer demands and constant technological advancements, with the payments sector at the forefront.
In an age of digital commerce, the demand for real-time, frictionless payments is higher than ever. Consumers and businesses want to be able to make and take payments instantly, how, when, and wherever they choose, even if it is a weekend or a public holiday.
This has prompted a ripple effect, resulting in the introduction of regulations and initiatives around the world, such as FedNow, SEPA Instant Credit Transfer (SCT Inst), The Clearing House Real-Time Payments (TCH-RTP), and the United Kingdom’s New Payments Architecture (UK NPA).
Another mandated instant payment service is SIC5 from the Swiss National Bank (SNB). The new system will replace the existing SIC4 – which settles payments in batches several times a day – to facilitate instant interbank payments in Switzerland and Liechtenstein. The largest Swiss banks must comply and be able to facilitate instant payments by August 2024, while the remaining banks have until 2026.
The complexities of payment modernisation
A recent survey conducted by Aite-Novarica Group (now Datos Insights), supported by Finastra, sheds light on the pivotal role of instant payments in modernising payment systems.
It reveals that 72 percent of respondents have either successfully implemented a new payment rail, have one in progress, or have plans to implement one. However, this seismic shift towards real-time payments is not without its challenges. 
Approximately 57 percent of respondents identified adapting legacy infrastructure as a significant obstacle, making modernisation efforts arduous and complex.
The survey further highlights that while offering instant payments provides tremendous opportunities for financial institutions to enhance the customer experience and stay competitive, it can also require substantial investments in technology and operational restructuring. However, if banks do not invest in more robust technology to cater to this demand, they will risk falling behind.
The importance of technological investment
Accelerating investments in technology and modernisation enables banks to address challenges and seize the opportunities presented by instant payments. The benefits of payment processing in the cloud, microservices, and Payments as a Service (PaaS) solutions are becoming widely recognized by banks to fast-track this journey.
Cloud-based solutions increase operational agility, allowing banks to respond quickly to evolving customer, industry, and regulatory demands. With PaaS, banks can also significantly reduce Total Cost of Ownership (TCO), time-to-market, and value when delivering new solutions and enhancing their scalability. As instant payment volumes grow, for example, institutions can scale their payment processing capabilities according to demand, ensuring optimal performance even during peak transaction periods.
Additionally, by leveraging solutions based on microservices or composable architecture, banks can implement, update, and deploy particular applications and services much more easily and quickly. This is particularly important for institutions to make product updates to support instant payments and future developments.
Emergence of AI and Machine Learning
Introducing any new payment rail brings new potential risks, especially when that rail operates in real-time. Instant payments risk instant fraud, and banks need to utilize technology to implement preventive measures. 
Solutions that use Artificial Intelligence (AI) and Machine Learning (ML) can effectively be used to analyse a customer’s payment history to detect suspected fraudulent activities in real time. This payments data can also be used for other purposes, such as to understand customer behaviour, enabling institutions to offer personalised services that cater to individual preferences and needs.
AI and ML can also be used to automate fraud prevention processes such as AML (Anti-Money Laundering) and transaction monitoring to further increase security while reducing false positives for seamless payment experiences. 
More recently, the advent of generative AI is transforming the entire financial services industry, with strong use cases for payments emerging. Generative AI encompasses various AI techniques ranging from machine learning and natural language processing to computer vision and deep learning. 
Among its myriad applications, generative AI can be used to analyse historical and real-time data to create synthetic scenarios and data which can be used, for example, to generate potential risk scenarios or types of fraud we have not seen before. This is particularly useful to support continued real-time fraud prevention, even as fraudsters find new and innovative methods.
Generative AI can also enhance the way institutions offer personalised information, advice, and recommendations in customer service. Through natural language processing, banks can implement much more helpful chatbots and voice assistants that intuitively engage with and support users.
Choosing the right partner
The demand for instant payments is becoming increasingly evident in the evolving financial services landscape. The journey to meeting these demands is complex, especially when institutions are still faced with challenges associated with legacy infrastructure and the ever-evolving regulatory landscape. 
For institutions to successfully embrace payment modernisation and the shift towards real-time payments, collaboration is key. Banks need to accelerate investment in technology, explore the capabilities of AI and ML, and select a suitable partner that enables success.
Payment processing solutions that utilise the right technology enable banks to successfully keep pace with new demands, and finding the right partner with the necessary industry and implementation expertise is critical.
Additionally, such solutions should be Application Programming Interface (API) enabled to facilitate further partnerships and integrations, such as with fintechs offering specialist value-added services.
 Open banking and APIs facilitate connectivity that benefits the entire ecosystem. Fintechs can access banking data to develop solutions that utilise the latest technology to meet customer demands. Via fintech ecosystems, banks can then integrate these services with their existing solutions to ultimately benefit the end customer. 
Empowering banks for the future
Finastra’s Payments To Go solution helps institutions to adapt quickly to this environment. The end-to-end SaaS payment processing solution enables banks to deliver instant and flexible digital payments faster and more efficiently. Integrated with Finastra’s Financial Messaging Gateway, Payments To Go provides frictionless, more affordable, and direct access to the TIPS, SIC5, and FedNow networks, among others.
More recently, Finastra launched its Compliance as a Service solution on Microsoft Azure. The service includes Fincom’s real-time AML (Anti-Money Laundering) transaction screening and ThetaRay’s AI-powered transaction monitoring as a pre-integrated packaged solution with Finastra Payments To Go. 
The end-to-end solution, based on technology proven at many of the world’s leading financial institutions, enables US and European banks to streamline and automate compliance processes to effectively deliver instant payments. Combined with specialist compliance services from Fincom and ThetaRay, Finastra Compliance as a Service harnesses the power of AI and ML to provide on-the-spot compliance checks for optimal operational efficiency for instant payments.
Another offering from Finastra, FusionFabric.cloud, is a platform for open innovation that enables banks to easily integrate fintech services within its solutions. Through Finastra’s ecosystem, banks can integrate applications that support their journey to instant payments, such as solutions that utilize technology to further enhance fraud prevention.
In this evolving landscape, Finastra’s offerings serve as a resource, assisting banks in moving towards a future where payments are instant, seamless, secure, and ultimately focused on delivering the best customer outcomes.



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	]]></description><link>https://fintechnews.eu/modernization-meets-ai-as-instant-payments-define-the-future</link><guid>3391</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/08/Navigating-Instant-Payments-in-the-Modern-Banking-Landscape-1440x564_c.png?x75906</dc:content ><dc:text>Modernization Meets AI as Instant Payments Define the Future</dc:text></item><item><title>Schweizer Retail-Banken: Wie die progressive Modernisierung der Bank-IT gelingt</title><description><![CDATA[
									
					
							
					Wie Banken mit der progressiven, Journey-fokussierten Modernisierung risikoarm und schnell ihre IT modernisieren und die Ausgaben von der Pflege der Legacy IT hin zu Investitionen für Wachstum verlagern.
Alle etablierten Banken haben erkannt, dass die Modernisierung ihrer IT erforderlich ist. Doch der Modernisierungsprozess erscheint eher wie ein endloser Kampf. Ihr Gegner ist der Legacy Technology Stack aus veralteten, kostspieligen und unzusammenhängenden Systemen.
An das Kernbankensystem werden ständig Änderungswünsche herangetragen, was dazu geführt hat, dass es übermäßig komplex geworden und mit Funktionen aufgebläht ist, die nie dort hätten angesiedelt werden dürfen. Hinzu kommt: Die Lösungen der Banken für die einzelnen Kundenkanäle wurden ursprünglich isoliert entwickelt und haben sich im Laufe der Zeit zu teuren Silos entwickelt, was überdies zu einem Mangel an Synergien führt. Die Aufzählung der Probleme der Legacy IT ließe sich noch lange fortsetzen.
Im Ergebnis sind die Banken nicht mehr in der Lage, die sich ändernden Kunden- und Geschäftsanforderungen zu erfüllen. Sie stecken im Wartungsmodus und der Brandbekämpfung fest, was sie daran hindert, Innovation und tatsächlichen Wert zu schaffen.
In diesem Umfeld steigt der Druck auf die IT-Verantwortlichen, einen geschäftlichen Mehrwert zu schaffen. Und im heutigen geopolitischen Klima sollen sie zudem mit weniger Ressourcen mehr leisten. Sie müssen eine “Invest-to-Win”-Strategie definieren und umsetzen, die den Fokus von Kostensenkung und Leistungsoptimierung auf Investitionen für Wachstum verlagert. Sie müssen die IT im großen Stil modernisieren.
Die menschlichen Aspekte der Modernisierung
Doch viele IT-Verantwortliche bei Banken blicken sorgenvoll auf derartige Projekte zur digitalen Transformation. Denn bei größeren Projekten besteht das Risiko, dass es zu gravierenden Verzögerungen und Kostenexplosionen kommt oder dass sogar das komplette Projekt scheitert. Beides kann negative Konsequenzen für die Verantwortlichen nach sich ziehen.
Zudem ist ein „Inside-out“-Denken weit verbreitet: Interne Faktoren und Prozesse bilden den Ausgangspunkt für die Entscheidungen und Handlungen der Bank. “Inside-out”-Denken hat seine Berechtigung, doch da viele etablierte Banken parallel kein “Outside-in”-Denken betrieben haben, verloren sie die Kundenzentrierung aus den Augen.
Viele erfolgreiche Unternehmen, die etablierte Banken derzeit herausfordern – wie Big Techs, Fintechs oder Challenger-Banken – setzen dagegen stark auf das “Outside-in”-Denken, da es ihnen hilft, Kundenbedürfnisse zu verstehen und Produkte und Dienstleistungen anzubieten, die diese Bedürfnisse erfüllen. Bedingt durch den Fokus auf “Inside-out“ fehlt Banken jetzt die Helikopterperspektive bzw. ein Nordstern: Ein klares Ziel und ein starker Eindruck, wie der Weg zum Ziel aussieht.
Die Risikoaversion und das Fehlen eines klaren Ziels sorgen dafür, dass etablierte Banken oft nur punktuelle Verbesserungen an ihrer IT vornehmen. Anstatt ihre IT-Architektur um den Kunden herum neu aufzubauen, überarbeiten viele Banken nur einzelne Punktlösungen. Das führt aber nicht zu Investitionen ins Wachstum und zur Customer Experience, die die Kunden erwarten.
Klares Ziel für die Modernisierung: Engagement Banking
Die IT muss umfassend modernisiert werden, das steht außer Frage. Nur das befähigt Banken, ihre operative Exzellenz zu optimieren, die Agilität und Skalierbarkeit zu steigern, neue technische Möglichkeiten zu nutzen und Kunden eine bessere Experience zu bieten. Doch um diese Milestones zu erreichen, ist zuallererst ein klares Ziel nötig, was diese Milestones zu einem Weg verbindet. Dieses Ziel ist der Big Shift vom traditionellen Banking zum Engagement Banking.
Beim Engagement Banking steht der Kunde im Zentrum. Eine dementsprechend hohe Bedeutung haben nahtlose Customer Journeys und eine exzellente Customer Experience. Das leistet die Bank, indem im Front Office, Back Office und Business Support so viele administrative, manuelle und repetitive Tasks wie möglich digitalisiert und automatisiert werden.
Die Mitarbeitenden dieser Abteilungen werden dadurch von den wenig wertschöpfenden Aktivitäten entlastet und haben mehr Zeit für Aktivitäten, die den Umsatz und die Kundenzufriedenheit steigern. Gleichzeitig werden sie mit modernen Software-Oberflächen bei der Kundenbetreuung unterstützt, was ihre Produktivität steigert.
Zusätzlich werden auch die Mitarbeitenden in der IT durch die Modernisierung von den wenig wertschöpfenden administrativen, manuellen und repetitiven Tasks entlastet. Das ist bitter nötig, denn zu viele IT-Mitarbeitende sind komplett damit ausgelastet, den Betrieb am Laufen zu halten, und haben keine Zeit, Innovationen zu entwickeln und auszurollen. Das führt dazu, dass die Bank sich nicht vom Wettbewerb differenzieren kann. Wenn die Bank also hier ansetzt und diesen Zustand beendet, indem sie ihren Tech Stack in Richtung Engagement Banking modernisiert, lösen sich viele Probleme der IT (zu hohe Kosten, keine Ressourcen frei, Kampf um knappe IT-Fachkräfte) mit der Zeit von selbst.
Progressive Modernisierung: ein schneller, risikoarmer und kosteneffizienter Ansatz
Der Big Shift zum Engagement Banking definiert das Ziel, doch auch der Weg dorthin muss gemeistert werden. IT-Verantwortliche stehen daher vor der Frage, wo und wie sie die Modernisierung beginnen. Dazu gibt es keine Patentlösung. Banken müssen ganz pragmatisch an einer Stelle anfangen und sich dann in die richtige Richtung – zum Engagement Banking – bewegen.
Generell stehen ihnen zur Modernisierung drei Ansätze zur Verfügung. Der Greenfield-Ansatz, der Big-Bang-Ansatz und die progressive, Journey-fokussierte Modernisierung. Der Big-Bang-Ansatz birgt enormes Risiko, zu scheitern, dauert lange und kann extrem kostenintensiv ausfallen. Der Greenfield-Ansatz ist leider auch nicht praktikabel, da bei einem komplett neuen System auch alle Bestandskunden komplett neu ge-onboarded werden müssen.
Daher ist die progressive, Journey-fokussierte Modernisierung der beste Ansatz für die meisten etablierten Banken. Dabei werden Legacy-Systeme allmählich und schrittweise modernisiert. Zunächst werden bestimmte Bereiche (Customer Journeys) der Legacy-Systeme ermittelt, die die meisten Probleme verursachen. Diese Komponenten werden dann nach und nach ersetzt oder aktualisiert, während der Rest des Systems (zunächst) beibehalten wird (siehe Grafik unten).

Durch diesen schrittweisen, iterativen Ansatz verringern Banken das Risiko, kontrollieren die Kosten und verbessern Agilität sowie Wettbewerbsfähigkeit. Insgesamt ist die schrittweise Modernisierung ein pragmatischer und realisierbarer Ansatz für die Modernisierung von Legacy-Systemen in Banken.
Eine Engagement-Banking-Plattform unterstützt die progressive Modernisierung
Modernisierungsansatz und Ziel stehen fest: Mit der progressiven, Journey-fokussierten Modernisierung erfolgt der Shift zum Engagement Banking. Die Methode und die Richtung sind klar. Es fehlt nur noch ein einheitliches und durchdachtes Fundament, auf dem die neuen Journeys laufen und dass die Tasks, die keine große Wertschöpfung haben, digitalisiert und automatisiert.
Dieses Fundament kann durch eine Engagement-Banking-Plattform (EBP) gebildet werden. Eine gute EBP ist eine umfassende, einheitliche Plattform, die so konzipiert ist, dass sie nicht nur den sich ständig ändernden Bedürfnissen der Bankkunden gerecht wird, sondern Banken auch in die Lage versetzt, schnell zu innovieren und mit den raschen Fortschritten in der digitalen Landschaft Schritt zu halten.
In anderen Worten: Eine gute EBP ist vergleichbar mit einem Baukasten für die Bankenmodernisierung, das für jede Bank maßgeschneidert werden kann und gleichzeitig vieles out of the Box mitbringt. Eine API-gestützte offene Architektur macht die Plattform modular und ermöglicht es, schnell Customer Experiences zu erschaffen, mit denen sich eine Bank im Wettbewerb positiv abheben kann. Eine EBP ermöglicht „Buy and Build“ für Geschwindigkeit und Differenzierung gleichermaßen.
Teil der Plattform (und damit eingekauft) sind leistungsstarke, direkt einsetzbare Out-of-the-Box-Funktionen und Customer Journeys, die rasch zu bestehenden technische Ökosystemen hinzugefügt werden können und sofortigen Mehrwert schaffen. Auf der EBP lassen sich aber auch unkompliziert individuelle Funktionen und Customer Journeys entwickeln, um differenzierte Angebote zu schaffen. Diese Kombination aus „Buy and Build“ ermöglicht es Banken, Alleinstellungsmerkmale zu entwickeln, die komplette Customer Experience zu verbessern und sich positiv von den Marktbegleitern abzuheben. Und durch die Wiederverwendung von Bausteinen über die verschiedenen Ebenen des Maschinenraums hinweg können Banken Journeys ersetzen, entwickeln und an ihre individuellen Bedürfnisse anpassen (siehe Grafik unten).

Nach Einkauf und Integration der Engagement-Banking-Plattform können Banken also Schritt für Schritt neue, effizientere Funktionen und Customer Journeys einführen, die auf der Plattform laufen und die Aufgaben der Altsysteme übernehmen. Dann können die Altsysteme heruntergefahren werden.
Beispielsweise stellt eine gute EBP zahlreiche Customer Journeys sowie eine Banking App zur Verfügung und stellt deren Anbindung an das Kernbankensystem etc. sicher. Pflege und Weiterentwicklung der„alten“ Customer Journeys und der „alten“ Banking App in der Legacy IT fallen somit weg – und damit sinken die Kosten für die Legacy IT. So werden Budgets und Ressourcen wirklich für kontinuierliche Modernisierung und Innovation eingesetzt. (siehe Grafik unten).

Dabei bestimmt die Bank im Rahmen der progressiven Modernisierung, wie schnell sie welche Funktionen und Customer Journeys von den Altsystemen auf die EBP umzieht. Je mehr sie auf die EBP verlagert, desto mehr schöpft die Bank das Potenzial der Plattform aus.
Auf das Fundament folgen alle weiteren Stockwerke
Stellen wir uns die IT der Bank wie ein Haus vor: Das alte Haus passt nicht mehr zu den aktuellen Anforderungen. Es ist zu klein, es geht zu viel Wärme verloren und ständig muss etwas repariert werden. Und weil alles hochindividuell und nicht standardisiert ist, müssen für jede Reparatur oder Erweiterung teure Experten anrücken.
Ein neues Haus muss her. Eigentlich will man in einem Rutsch in dieses neue Haus umziehen, aber das geht nicht. Daher erfolgt der Umzug schrittweise. Und mit jedem Umzugsschritt wird das neue Haus größer und besser. Gleichzeitig sinken die Kosten für das alte Haus. Und weil im neuen Haus alles modern und standardisiert ist, sind hier Reparaturen und Erweiterungen viel günstiger und schneller möglich.
Von enormer Bedeutung für eine erfolgreiche Modernisierung der Bank-IT ist also der Plattformansatz: Anstatt nur unzusammenhängend und punktuell bestimmte Insellösungen zu überarbeiten, wird bei der progressiven Modernisierung zunächst eine Engagement-Banking-Plattform integriert.
Die Engagement-Banking-Plattform ist das Fundament des neuen Hauses. Sie ermöglicht es Banken, ihre wichtigsten Customer Journeys schrittweise zu modernisieren und sich dabei strategisch in die richtige Richtung zu entwickeln.


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	]]></description><link>https://fintechnews.eu/schweizer-retail-banken-wie-die-progressive-modernisierung-der-bank-it-gelingt</link><guid>3390</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Grafik-1_Source-Backbase-scaled.jpg?x75906</dc:content ><dc:text>Schweizer Retail-Banken: Wie die progressive Modernisierung der Bank-IT gelingt</dc:text></item><item><title>Postfinance E-Commerce setzt auf Worldline’s Crypto Payment Lösung</title><description><![CDATA[
									
					
							
					Worldline hat in der Schweiz mit Postfinance einen wichtigen Schweizer Kunden gewonnen. Die Zahllösung Worldline Crypto Payments wird ab sofort in der E-Commerce Lösung von Postfinance angeboten.
In der E-Commerce-Lösung von PostFinance „Checkout Flex“ kann zukünftig auch mit Bitcoin und Ethereum, über das Bitcoin-Lightning-Netzwerk sowie mit den Stablecoins USDC und USDT bezahlt werden.
Bereits seit zwei Jahren bietet Worldline die Zahllösung Worldline Crypto Payments schweizweit an. Die Lösung für lokale Händler und Onlineshops wird von Worldline in Zusammenarbeit mit dem Finanzdienstleister Bitcoin Suisse offeriert.


   




Der Händler muss sich dabei nicht um die Verwaltung der akzeptierten Kryptowährungen kümmern. Diese werden umgehend in Schweizer Franken gewechselt, um dem Händler das Risiko einer Währungsschwankung abzunehmen und gebündelt mit anderen Zahlungsmitteln auszuzahlen.
Ebenfalls wird der Payment Service Provider wallee noch in diesem Jahr Worldline Crypto Payments innerhalb seine E-Commerce-Lösung anbieten. Ziel der Integration von Worldline Crypto Payments in die bestehende E-Commerce-Lösung bei PostFinance ist es, die Akzeptanz von Kryptozahlungen weiter zu erhöhen und einer breiteren Öffentlichkeit zugänglich zu machen.
Aktuell bieten allein im E-Commerce rund 700 Händler Worldline Crypto Payments an. Mit jeder Woche kommt eine zweistellige Zahl von Merchants hinzu. Die Zahlungslösung wird für alle Branchen angeboten, wobei das Luxus-segment, die Hotellerie und die Unterhaltungselektronik die höchsten Transaktionsvolumen aufweisen.



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			&#13;
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		]]></description><link>https://fintechnews.eu/postfinance-e-commerce-setzt-auf-worldlines-crypto-payment-losung</link><guid>3389</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Postfinance E-Commerce setzt auf Worldline’s Crypto Payment Lösung</dc:text></item><item><title>Bottomline Opens B2B Payment Network</title><description><![CDATA[
									
					
							
					Bottomline makes its B2B payment network available to approved financial institutions, fintechs and others looking to increase payment acceptance.
This is the first time Bottomline’s business payment network has opened access to its proprietary Premium ACH supplier network.
Partners can connect to Bottomline’s growing 550,000+ authenticated and validated suppliers and provide payers with high-end, rebate-friendly ACH payments, complementing their existing virtual card program and providing a new revenue stream.


   




Offered as a network-as-a-service solution, the solution enables financial institutions, fintechs and others to expand their payment networks, driving multiple benefits that further deliver accounts payable (AP) automation and effortless network expansion for their customers, the payers.
By receiving more payments digitally, suppliers on the network will experience less portal fatigue, lower payment acceptance costs and less risk.
Andrew Bartolin
“Bottomline’s Paymode-X is one of the largest and most established business payment networks, enabling billions of secure, compliant payments and delivering high value to its trading partner members for many years,”
said Andrew Bartolini, Founder and Chief Research Officer, Ardent Partners, a leading ePayables research and advisory firm.
Craig Saks
“Opening the Bottomline business payment network recognizes the role we play in expanding a connected ecosystem,”
said Craig Saks, President and CEO, Bottomline.
“Transforming business payments means connecting banks and fintech partners across the system to expand the reach of their corporate payments and to offer their business customers more access to more suppliers without the additional investments required to achieve scale.”


Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/bottomline-opens-b2b-payment-network</link><guid>3388</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Bottomline Opens B2B Payment Network</dc:text></item><item><title>InterSystems bietet neue SaaS Cloud Software für Asset-Manager an</title><description><![CDATA[
									
					
							
					InterSystems, ein Anbieter kreativer Datentechnologien, der Kunden bei der Lösung ihrer wichtigsten Probleme in den Bereichen Skalierbarkeit, Interoperabilität und Geschwindigkeit unterstützt, hat InterSystems TotalView For Asset Management vorgestellt, eine Fully Managed Cloud-native Software-as-a-Service (SaaS) Lösung, die Vermögensverwaltern nachhaltige Vorteile bietet.
Die Self-Service Lösung beschleunigt die Entscheidungsfindung durch eine einheitliche Sicht auf alle Daten und unterstützt Asset Manager darin, Risiken besser zu managen und Compliance-Vorgaben einzuhalten.
Der InterSystems TotalView For Asset Management zugrunde liegende Smart Data Fabric Architekturansatz adressiert eine zentrale Herausforderung von Vermögensverwaltern: Die Bereitstellung einer einheitlichen und verlässlichen Sicht auf Daten in Echtzeit. Diese „Single Source of Truth“ integriert und harmonisiert unternehmenseigene sowie externe Daten für diverse Datennutzer. Dadurch wird für sie ein Gesamtüberblick über jene Informationen geschaffen, die in Datensilos in Front, Middle und Back Office, aber auch bei Drittanbietern verteilt vorliegen.


   




Harris Associates, ein amerikanischer Asset Manager mit 95 Milliarden Dollar an verwaltetem Vermögen, hat sich für InterSystems TotalView For Asset Management entschieden, um seine Herausforderungen im Datenmanagement zu überwinden, seine Portfolio-Performance sowie Profitabilität zu steigern und das Kundenerlebnis zu optimieren.
Jey Amalraj
„Dank InterSystems TotalView For Asset Management sind wir endlich in der Lage, die drängendste Herausforderung im Asset Management zu lösen: die kontinuierlich zunehmende Menge an Daten zusammenzuführen und eine Single Source of Truth zu schaffen, die allen Datennutzern im Unternehmen dient“,
erläutert Jey Amalraj, CTO bei Harris Associates.
“Wir haben es mit vielen Daten zu tun, sowohl was das Volumen als auch die Komplexität betrifft. Ich arbeite schon seit 25 Jahren mit Daten. Wir haben schon einige Lösungen ausprobiert und endlich etwas gefunden, das funktioniert.“
Scott Gnau
Scott Gnau, Head of Data Platforms bei InterSystems erläutert:
„Im Gegensatz zu herkömmlichen Ansätzen für die Datenverwaltung nutzt unsere Lösung einen modernen, auf einer Smart Data Fabric Architektur basierenden Ansatz. Vermögensverwalter profitieren durch die Zusammenführung von Informationen aus diversen Quellen und der Bereitstellung einer einzigen, vertrauenswürdigen und aktuellen Datenbasis. Die Vorteile spiegeln sich insbesondere in einer Verbesserung der Investment Performance, des Risikomanagements, der Erfüllung regulatorischer Anforderungen sowie des Kundenerlebnisses wider“




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	]]></description><link>https://fintechnews.eu/intersystems-bietet-neue-saas-cloud-software-fur-asset-manager-an</link><guid>3387</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>InterSystems bietet neue SaaS Cloud Software für Asset-Manager an</dc:text></item><item><title>Thought Machine Partners With Form3 to Bring Real-Time Payment Technology to Europe</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 30, 2023
																				





					
					
							
					Thought Machine, the cloud-native banking technology company, announced it has partnered with Form3, a cloud-native account-to-account platform, to add FedNow, TCH RTP and SEPA Instant Credit Transfer connectivity to Thought Machine’s payment platform, Vault Payments.
This partnership brings together two payment solutions, offering banks and financial institutions an end-to-end solution for seamless real-time payment processing.
‍Thought Machine’s Vault Payments is a cloud-native and API-enabled platform designed to simplify payment processing for banks. Its Universal Payment Engine processes all payment types and seamlessly integrates with any method, scheme or region globally, granting total payment orchestration control with unparalleled customisation of payment flows.


   




‍Both Thought Machine and Form3 have built their platforms using cloud-native technologies, guaranteeing reliability, scalability, performance and disaster recovery as core capabilities.
‍In 2022, global real-time transaction volumes soared by more than 60% yearly, reaching a record high. However, legacy systems can prevent banks and fintechs from fully leveraging new real-time schemes. Legacy systems can be difficult to integrate with real-time technologies and can lack compliance with ISO 20022 standards.
‍Thought Machine is entering the US payment market to meet the strong demand from financial institutions seeking modern, real-time payment systems. This demand has grown since the launch of FedNow in July 2023, which is set to revolutionise the US money transfer market.‍
Paul Taylor
Paul Taylor, founder and CEO of Thought Machine, commented:
“We are delighted to partner with Form3, marking a significant step towards realising our vision of a truly Universal Payment Engine. As real-time payments become the new standard, our combined expertise ensures financial institutions are equipped with cutting-edge, cloud-native technologies. Together, we are shaping the future of payments.”

Mike Walters
‍Mike Walters, Form3 CEO, said:
“We are very pleased to be working with Thought Machine, to provide leading banks and financial institutions with a fully-rounded, multi-cloud solution for their real-time payments needs. This partnership brings together two best-in-class cloud technology providers, working in a changing payments landscape, highlighted by the introduction of the FedNow Service and the new ISO 20022 messaging standards.”


Featured image credit: Paul Taylor, founder and CEO of Thought Machine and Mike Walters, Form3 CEO


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	]]></description><link>https://fintechnews.eu/thought-machine-partners-with-form3-to-bring-real-time-payment-technology-to-europe</link><guid>3385</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Thought-Machine-Partners-With-Form3-to-Bring-Real-Time-Payment-Technology-to-the-US-and-European-Markets-1440x564_c.jpg?x75906</dc:content ><dc:text>Thought Machine Partners With Form3 to Bring Real-Time Payment Technology to Europe</dc:text></item><item><title>BBVA Spark Backs Twinco Capital With New €50 Million Debt</title><description><![CDATA[
									
					
							
					There is a staggering $2.5 trillion global trade finance gap that mainly affects SMEs in emerging countries, limiting their ability to access new business opportunities.
Helping businesses to bridge this finance gap is Twinco Capital missions, thats why the supply chain fintech Capital is announced it has secured an additional €50 million facility with BBVA Spark to accelerate growth.
Twinco, one of the few European high-growth fintechs led by women, offers the first sustainable supply chain finance solution in the market that covers purchase order funding and has provided over $250mln in funding to suppliers in emerging markets.


   




Roberto Albaladejo
“We are very pleased to support Sandra and Carmen, two entrepreneurs who, with Twinco, have reinvented the way supply chains are financed on a global scale and who have also incorporated innovative environmental and social criteria into their supplier financing model”
explains Roberto Albaladejo, head of BBVA Spark, an initiative that has more than 800 clients and facilitated €250 million in financing in just one year of operation.
Twinco is a venture-backed business, with investors such as Quona Capital, Working Capital Fund, Mundi Ventures, Finch Capital. On the debt side, BBVA Spark will become one of Twinco’s key financial partners and joins EBN Banco de Negocios who has been supporting the Company from its inception, and Zubi Capital.
Sandra Nolasco
Sandra Nolasco, CEO of Twinco Capital commented:
We are thrilled to partner with BBVA Spark to help customers build truly sustainable and competitive global supply chains.
It is only by partnering with this caliber of like-minded, financial institutions, that we will be able to address large-scale challenges like the one Twinco has set out to solve: closing the trade finance gap. This facility will support the company’s portfolio growth, expanding both the number of customers and geographies.”
Twinco Capital engages with large corporations—mostly in the retail and apparel sectors—and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery. The process is designed to be a fully transparent, no-hassle experience that provides the suppliers with funding for its purchase orders within 48 hours. The key to its success is its unique risk model, which complements the traditional view of financial risk with business performance and ESG data. In other words, it uses machine learning to assess the quality and strength of the commercial relationships between these large buyers and their suppliers.
The company is growing rapidly and has already incorporated more than 150 suppliers, located in 13 different countries. Since launching in December 2019, Twinco Capital has grown by multiples of 3, supporting global trade during the pandemic and funding millions of purchase orders.

Featured image credit: BBVA


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	]]></description><link>https://fintechnews.eu/bbva-spark-backs-twinco-capital-with-new-50-million-debt</link><guid>3386</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>BBVA Spark Backs Twinco Capital With New €50 Million Debt</dc:text></item><item><title>Hypi Lenzburg startet mit neuem Angebot für Digitale Assets und Krypto-Banking</title><description><![CDATA[
									
					
							
					Bei der Hypothekarbank Lenzburg können ab sofort digitale Assets auf einer öffentlichen Blockchain sicher verwahrt werden. Einen ersten Anwendungsfall realisiert die Bank mit der RealUnit Schweiz AG.
Die Hypothekarbank Lenzburg hat ihre Organisationsstruktur und das Kernbankensystem Finstar so erweitert, dass sie nun Dienstleistungen für digitale Assets anbieten kann. Den Anfang macht sie mit dem Verwahrungsangebot für digitale Registerwertrechte ausgewählter Partnerfirmen, die auf der Ethereum-Blockchain emittiert wurden. Solche Token können ab sofort bei der Bank sicher aufbewahrt werden. Mit dem neuen Angebot erweitert die Bank ihr Tätigkeitsfeld und etabliert den neuen Geschäftsbereich Krypto-Banking.
Reto Huenerwadel
«Wir haben in den vergangenen Monaten intensiv daran gearbeitet und freuen uns, dass wir nun mit einem ersten Angebot für digitale Assets starten können»,
sagt Reto Huenerwadel, Leiter Marktleistungen bei der Hypothekarbank Lenzburg.


   




Die Schweizer Investmentgesellschaft RealUnit Schweiz AG nutzt den neuen Service der Hypothekarbank Lenzburg für die Verwahrung der digitalen Aktientoken, die von ihr über die Schweizer Plattform aktionariat.com herausgegeben werden. Anlegerinnen und Anleger von RealUnit, die sich für die Verwahrungsoption bei der Hypothekarbank Lenzburg entscheiden, eröffnen bei der Bank ein Wertschriftendepot mit einer Wallet im Hintergrund. In diese können die RealUnit-Aktientoken eingebucht werden.
Die sichere Aufbewahrung der Private Keys wird somit von der Hypothekarbank Lenzburg in einem regulierten Rahmen übernommen. Die RealUnit-Aktientoken können zudem über die Smart-Contract-Marktlösung der RealUnit gekauft und verkauft werden. Die technische Umsetzung dafür stammt von der Schweizer Blockchain-Firma Aktionariat AG.
Token-Verwaltung über E-Banking
Die Aktientoken der RealUnit Schweiz AG repräsentieren digitale Beteiligungsrechte an der Anlagelösung der RealUnit Schweiz , die hauptsächlich in Sachwerte investiert. Die Investierenden müssen sich insbesondere nicht mehr um das Risiko eines Verlusts des Private Key kümmern. Die Aktientoken können wie herkömmliche Aktien oder andere Wertschriften über das E-Banking der Hypothekarbank Lenzburg verwalten werden.
«Wir stellen sicher, dass die technischen Anforderungen für die Verwahrung der digitalen Registerwertrechte unter Berücksichtigung aller rechtlicher Aspekte erfüllt sind. Die Dienstleistung steht auch anderen Emittenten von Aktientoken zur Verfügung»,
sagt Huenerwadel.
Vorteile für Investierende
Dani Stüssi
«Der neue Verwahrungsservice der Hypothekarbank Lenzburg bietet für Investierende klare Vorteile im Vergleich zur selbständigen Verwahrung von Token über eine Self-Custody-Wallet. Wir freuen uns sehr, unseren Anlegerinnen und Anlegern diese innovative Lösung anbieten zu können»,
ergänz Dani Stüssi, CEO von der RealUnit Schweiz AG.

[embedded content] 
Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/hypi-lenzburg-startet-mit-neuem-angebot-fur-digitale-assets-und-krypto-banking</link><guid>3384</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Hypi Lenzburg startet mit neuem Angebot für Digitale Assets und Krypto-Banking</dc:text></item><item><title>Rulematch Closes Pre-Series A Funding Round</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 26, 2023
																				





					
					
							
					Rulematch, a Swiss digital asset trading solution provider, announced the conclusion of its pre-Series A funding round with investments from FiveT Fintech (formerly known as Avaloq Ventures) along with seed investor, Consensys Mesh.
Leading global liquidity provider and market maker Flow Traders is also making a strategic commitment to Rulematch.
In advance of its upcoming Series A funding round with the support of FiveT Fintech, Flow Traders and Consensys Mesh, Rulematch continues to onboard additional financial institutions to its participant network.


   




David Riegelnig
Rulematch CEO David Riegelnig commented:
“One of the greatest value-adds of our investors comes from their long-term perspective on the development of the crypto and digital assets industry and where it is going from here.”
Alexander Christen
Alexander Christen, Co-Founder of FiveT Fintech commented:
“We remain committed to supporting visionary entrepreneurs who are at the forefront of driving the widespread adoption of distributed ledger technology (DLT). Rulematch, with its groundbreaking trading venue, will set a new industry standard in meeting the requirements of institutional cryptocurrency trading, encompassing regulatory compliance, capital efficiency, low latency trading and commission optimization. Our involvement in Rulematch serves as the inaugural step for our upcoming initiative, ‘FiveT Fintech II DLT,’ slated for launch later this year.”



Featured image credit: RULEMATCH CEO David Riegelnig


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			&#13;
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		]]></description><link>https://fintechnews.eu/rulematch-closes-pre-series-a-funding-round</link><guid>3382</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/RULEMATCH-Concludes-Pre-Series-A-Funding-Round-1440x564_c.jpg?x75906</dc:content ><dc:text>Rulematch Closes Pre-Series A Funding Round</dc:text></item><item><title>Digital Channels and AI: A Must for Traditional Banks, McKinsey Banking Report</title><description><![CDATA[
									
					
							
					The banking sector is undergoing a profound shift driven by changes and challenges in the economic, technological, regulatory and competitive landscapes. These dynamics are forcing traditional financial institutions to reevaluate banking roles, change strategies, and embrace technology including artificial intelligence (AI) to maintain market relevance and competitiveness, a new report by McKinsey and Company says.
In a new report, the global consultancy firm looks at the state of the global banking sector, delving into the sector’s evolution over the past year and the trends observed.
In particular, the report highlights the transformative phase within the industry and notes that banking institutions are losing some ground to non-traditional institutions.


   




This trend is evidenced by the migration of balance sheets and transactions outside of traditional banking systems and into non-traditional institutions.
These institutions, which operate with less capital and often under different regulatory standards, include capital market infrastructure providers. These players are maintaining a sustained growth rate, it notes, and have witnessed robust a 7 to 8% annual growth rate in the past few years despite global crises.
In payments, the shift is manifested by the increase in consumer digital payment processing conducted by payment specialists, which grew by more than 50% between 2015 and 2022.
In capital markets, investment banks and broker-dealers are gaining market share in various products, including equity capital (from 44% in 2015 to 59% in 2022), and foreign exchange (FX) transactions (from less than 1% in 2015 to 22% in 2022).
In wealth and asset management, independent asset managers not owned by a bank or insurer are witnessing improved market penetration as well, recording a rise in their market share from 77% of AUM in 2017 to 81% in 2022.
Transactions in payments, capital markets and asset management, Source: Global Banking Annual Review 2023: The Great Banking Transition, McKinsey and Company, Oct 2023
Changing distribution models
Besides the migration of balance sheets and transactions towards specialized players, McKinsey notes that distribution models are also evolving and moving towards hybrid models.
This shift is prominent in consumer finance, mortgages as well as deposits and loans to small and medium-size enterprises (SMEs) where online comparison platforms are witnessing booming traction. In Sweden and Germany, for example, online comparison platforms are holding more than 40% of the consumer finance and mortgage markets, respectively, the report says.
Concurrently, it notes that embedded finance, a concept referring to the integration of financial products and services into non-banking products and business models, continues to take off.
In 2021, embedded finance reached US$20 billion in revenues in the US, according to McKinsey estimates. The market is expected to double in size within the next three to five years.
In the European Economic Area and the UK, revenue of embedded finance is set to rise to EUR 100 billion by 2030.
Embracing changes and technology
The shift in market share and banking distribution is calling for banks to adjust and adapt.
McKinsey advises traditional banking institutions to improve distribution and focus on selling to customer both directly and indirectly. Embracing a third-party distribution strategy through either partnerships to create embedded finance offerings or platform-based models can create new opportunities to serve customers’ needs with products outside of an institution’s existing business models, it says.
McKinsey also recommends banks to embrace AI and advanced analytics to improve processes, boost productivity and enhance the delivery of products and services. These innovations should be leveraged to deploy process automation, platforms, and ecosystems; cultivate a cloud-based, platform-oriented architecture; and improve capabilities to address technology risks.
McKinsey warns that moving forwards, distinctive technology development and deployment will increasingly become a critical differentiator for banks.
Generative AI, a subfield of AI focused on developing algorithms and models that are capable of generating new text, images, or other media in response to prompts, has been one of the hottest tech trends of the past year.
In the first six months of 2023, equity funding to the space topped US$14.1 billion across 86 deals, data from CB Insights show. The figure represents a fivefold increase compared to full-year 2022 during which generative AI startups secured a mere US$2.5 billion.
Generative AI disclosed equity funding and deals, Source: CB Insights, Aug 2023
Booming interest in generative AI is being driven by promises of significant efficiency gains and cost savings. McKinsey estimates that generative AI could lift productivity by 3% to 5% across the banking sector, delivering value equal to an additional US$200 billion to US$340 billion in annual revenues.
Goldman Sachs, meanwhile, believes that generative AI could drive a 7% increase in global gross domestic product (GDP), translating to almost US$7 trillion. The bank estimates that roughly two-thirds of US occupations are exposed to some degree of automation by AI.

Featured image credit: freepik


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	]]></description><link>https://fintechnews.eu/digital-channels-and-ai-a-must-for-traditional-banks-mckinsey-banking-report</link><guid>3383</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Digital Channels and AI: A Must for Traditional Banks, McKinsey Banking Report</dc:text></item><item><title>Coop Neobank am Start in der Schweiz</title><description><![CDATA[
									
					
							
					Mit Coop Finance+ lanciert Coop zusammen mit mehreren Partnern aus der Finanz- und Dienstleistungsbranche eine neue und vollständig digitale Lösung für Finanz- und Vorsorgeprodukte für die SChweiz.
Über das Angebot können Kund:innen unkompliziert ein Spar- und Privatkonto eröffnen, Zahlungen tätigen und für die private Vorsorge in der Säule 3a sparen. Sie profitieren von qualitativ hochwertigen Finanzprodukten zu fairen Konditionen, einer überdurchschnittlichen Verzinsung auf dem 3a-Vorsorgekonto und gratis Bargeldbezügen an den Kassen aller rund 1 000 Coop-Supermärkte und Coop-City-Warenhäuser. Durch das dichteste Netz an Verkaufsstellen wird Coop somit zur grössten Anbieterin von kostenlosen Bargeld-Bezugsmöglichkeiten in der Schweiz.
Additiv und Hypi Lenzburg dabei
Über die neue App Coop Finance+ bietet Coop in Zusammenarbeit mit additiv als Technologiepartner und der Hypothekarbank Lenzburg als Bankpartner unter anderem ein Spar- und Privatkonto an. Sie können einfach und schnell über die App eröffnet werden. Im Vergleich besticht Coop Finance+ durch sein kostenloses und faires Angebot für Kontoführung und Debitkarte. Die Kontoinhaber:innen können in allen rund 1 000 Coop-Supermärkten und Coop-City-Warenhäuser an den Kassen mit ihren Debitkarten gebührenfrei Bargeld beziehen.


   




Somit verfügt Coop über die meisten Ausgabestellen von Bargeld in der Schweiz und unterstreicht auch in dieser Hinsicht die Nähe zu ihren Kund:innen. Coop möchte die Zufriedenheit der Kund:innen auch in Zukunft hochhalten, indem sie mit den Konti einen anwenderfreundlichen und kombinierten Service für den Bezahlvorgang sowie die Verwaltung des Haushaltsbudgets anbietet.
Vorsorgemöglichkeiten und Partnerschaften mit GLKB, Vanguard und OLZ
Neben dem Angebot der Kontolösungen kann über Coop Finance+ ebenso in Vorsorgelösungen in der Säule 3a investiert werden. Diese werden mit der Liberty 3a Vorsorgestiftung, der Glarner Kantonalbank als Depotbank und Vermögensverwalterin sowie Vanguard und OLZ als Fondspartner lanciert. Die Produkte sind qualitativ hochwertig und werden zu fairen Konditionen und geringen Gebühren angeboten. Coop nimmt dadurch ihr genossenschaftliches Engagement zugunsten ihrer Kund:innen wahr.
Abhängig von der Einkommens- und Lebenssituation der Nutzer:innen kann aus den zugeschnittenen Lösungen eine passende und innovative Anlagestrategie ausgewählt werden. Wahlweise wird die Aufteilung des Vorsorgevermögens auf Aktien und Obligationen schrittweise an das Lebensalter und die verbleibende Zeit bis zur Pensionierung angepasst. Dies mit dem Ziel, das Risiko von Kursschwankungen zu reduzieren, je näher die Pensionierung rückt. Ein weiterer Vorzug bietet die Vorsorgelösung von Coop Finance+ mit einem überdurchschnittlichen Zins von derzeit 1,4 % pro Jahr auf die Konto-Einlagen der Säule 3a.
Thomas Schwetje
Für Thomas Schwetje, Leiter Direktion Digital &amp; Customer bei Coop, ist die Einführung der neuen Produkte und Dienstleistungen ein logischer Schritt:
«In Zusammenarbeit mit unseren Partnern haben wir unter Coop Finance+ die erste vollumfassende digitale Lösung für unkomplizierte und einfach zugängliche Finanzdienstleistungen entwickelt. Die eingeschlagene Strategie, unseren Kund:innen auf ihre Bedürfnisse zugeschnittene, digitale Angebote anzubieten, setzen wir damit konsequent fort. Weitere digitale Finanzprodukte sollen in den kommenden Monaten folgen.»
Coop Finance+ steht ab sofort im App Store und auf Google Play zum Download bereit.


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	]]></description><link>https://fintechnews.eu/coop-neobank-am-start-in-der-schweiz</link><guid>3381</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/SmartSourcing_300x250-1.jpg?x75906</dc:content ><dc:text>Coop Neobank am Start in der Schweiz</dc:text></item><item><title>Fxview Continues to Provide Its Support to the Cyprus National Karate Team</title><description><![CDATA[
									
					
							
					Fxview is proud to announce the strengthening of its partnership with the Cyprus National Karate Team for the World Karate Championships for Seniors in Budapest, Hungary, scheduled from October 24-29, 2023. This partnership deepens relations between the two sides following Fxview’s support to the Cypriot delegation earlier this year at the European Karate Championships held in Guadalajara, Spain in March.
This initiative marks a notable shift from Fxview’s traditional financial role, underlining its unwavering dedication to community development beyond finance. In addition to financial support to the team, this partnership demonstrates Fxview’s commitment to the ideals of sports, embodying values that can make the world a better place.
The Importance of Corporate Social Responsibility (CSR)
Committed to fostering positive change within the young community of Cyprus, this endeavour forms part of Fxview’s dedication to long-term corporate social responsibility (CSR) and the year-long sponsorship of the Cyprus National Karate Team offers invaluable support.




   



    
   


   








Janis Anastassiou
“It’s important as a global brokerage to lead by example, showing respect and appreciation for our local communities. Through these initiatives, we believe that we actively promote the multidimensional role of sports and the values it upholds. We take pride in contributing to social well-being and nurturing the youth in our communities, and pledge to support more events of this kind in the future.”
said Janis Anastassiou, Managing Director, Finvasia Capital.
“By sponsoring the National Karate Team, we aim to inspire confidence, self-awareness, and discipline. These are values deeply rooted in Karate as a martial art, and they can empower young people to achieve greatness and shape positive social norms. We are proud to support the Cyprus National Karate Team and wish them every success.”, she added.

The highly anticipated 2023 Senior World Championship is set to take place in Budapest, Hungary, from October 24-29. This global event will bring together the world’s top karate athletes in the Hungarian capital, where they will compete fiercely for major medals, honouring the sport’s history. With participation confirmed from nearly 700 athletes representing 79 countries, this championship promises to be highly competitive, featuring athletes of the highest calibre.
As a tangible symbol of its support, Fxview’ss logo will be prominently displayed on the team’s t-shirts during the championships, symbolising the partnership’s strength and solidarity. Furthermore, Fxview will provide complimentary gift bags to the athletes, enhancing their overall experience and ensuring they have the resources they need to perform at their best.


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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
		]]></description><link>https://fintechnews.eu/fxview-continues-to-provide-its-support-to-the-cyprus-national-karate-team</link><guid>3380</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x75906</dc:content ><dc:text>Fxview Continues to Provide Its Support to the Cyprus National Karate Team</dc:text></item><item><title>Where and How to Find the Best Technology Partners for Fintech Companies</title><description><![CDATA[
									
					
							
					In today’s fast-paced world of FinTech, technology innovation is not merely a choice; it’s a necessity. From FinTech to InsurTech, RegTech, and any other “Tech” sector, technology is the foundation for powerful platforms, an enabler of innovation, and the driving force behind new services and solutions. However, technology alone isn’t enough. To thrive in the FinTech landscape, you require many complementary capabilities, including product management, agile engineering practices, design, UX/UI, testing &amp; QA, automation, infrastructure, security, integrations, architecture, and cloud services. Developing cutting-edge technology solutions necessitates significant investments, often consuming the lion’s share of your budget.
Exploring your options
1. In-house development
One approach is to build in-house all the essential capabilities, which means recruiting and hiring the necessary experts and talents locally. While this approach offers maximum control, it comes with substantial costs. This option can be costly in regions with high labor costs, such as Switzerland. Additionally, the scarcity of tech talent can make headhunting and hiring lengthy and challenging.
2. Nearshoring
Nearshoring has been a viable option for the past 10-15 years. It’s not a novel or exotic concept anymore. Many countries, such as Romania, Poland, Bulgaria, Portugal, and Ukraine, have experienced significant growth in the IT services outsourcing industry. They’re home to numerous IT service providers ready to support their clients. Nearshoring offers a cost-effective solution with geographical proximity and time zone advantages.
3. Remote-First Workers
The COVID-19 pandemic has ushered in a new trend. Over the last 2-3 years, “remote-first workers” have emerged. With many developers working from home, this model opens the door to flexible collaborations with tech experts worldwide. But is it a viable new option for your FinTech company?
Navigating the Challenges
New challenges arise with numerous options, many providers, different engagement models, and various locations. The key questions include:

Where to find the right provider?
How do we assess and evaluate the most suitable partner?
Which engagement model to choose?
Should you work with a specialized company or with individuals and freelancers?

Everything too often appears promising “on the surface,” and most providers make bold claims about their outstanding capabilities. But will they honestly deliver?
Evaluating and selecting the right partner
Effectively assessing potential partners is a significant undertaking. It requires the guidance of an experienced senior manager, if not an executive leader. Here’s a structured approach:

Start with clear objectives: Define your specific needs and expectations. Understand the level of strategic importance of the envisioned partnership.
Selection criteria: Develop a list of criteria based on your specific requirements. These may include expertise, portfolio, client references, and cultural fit.
Structured assessment: Evaluate in phases, such as preliminary assessments, in-depth interviews, and even small-scale pilot projects to gauge compatibility.
Due diligence: Thoroughly research potential partners, including background checks and, if possible, site visits to ensure they meet your standards.

Leveraging advisory and guidance
Thankfully, there are experienced nearshore software development experts with over a decade or two in the industry. Working with these experts is invaluable, who can provide guidance and impartial advice to help you find the best-matching provider. These experts have deep insights into the global ecosystem and maintain personal relationships with numerous providers in various countries.
The author of this article is a nearshoring expert and offers services under the Value Leap brand, specializing in helping clients in the DACH region.
The “speed dating” seminar format
Innovative seminar formats can make it easy, efficient, and even enjoyable to learn more about nearshoring and connect with pre-screened providers. One such event, “Meet Nearshoring Leaders in FinTech,” is scheduled for November 28, 2023, in Zurich. At this event, nine leading nearshoring providers will present FinTech-themed case studies and solutions they’ve implemented successfully for their clients.
Conclusion &amp; benefits
Working with experienced and impartial industry advisors and attending seminars where multiple providers share case studies and best practices are invaluable and worthwhile. This approach offers several significant benefits:

Time savings: Companies can save many months needed for a proper provider evaluation process, reduce the direct costs, and mitigate the – often overlooked – opportunity costs.
Accelerated time to market: With the right provider, FinTech companies can release value to their customers more quickly by leveraging the expertise and resources of the partner.
Cost savings: An optimal nearshoring partnership can lead to significant and sustainable cost savings and other strategic advantages.
Innovations: Working with experienced providers and experts can also spark innovations. Fresh ideas and out-of-the-box thinking can lead to better results and competitive advantages.

In the quest for the ideal technology partner, careful consideration, expert guidance, and structured evaluation processes can unlock the full potential of your FinTech venture. Whether you opt for in-house development, a nearshoring strategy, or explore the world of remote-first workers, making informed decisions is crucial to your success in the competitive world of FinTech.
Fintech News Switzerland’s readers will enjoy an exclusive discount of 40% off the ticket prices. Click here to register for the event and apply the promo code “FNNCH” during checkout.



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			&#13;
				About Author&#13;
				More info about author&#13;
			
			
				
				
					&#13;
						Franco Dal Molin, CEO at Value Leap&#13;
					
					
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								The founder and CEO of Value Leap, Franco Dal Molin, brings 30+ years of experience in IT and 20+ years in nearshoring/outsourcing. Franco has worked as CTO for buying organizations, in sales positions for IT services providers, and as an independent consultant for technology companies. Throughout his professional career, he worked for or cooperated with outsourcing firms, nearshore software development providers, and remote teams. These combined experiences are part of Value Leap's DNA and are passed on to all clients. Value Leap is also the creator, organizer, and host of the Smart Sourcing seminar series.							&#13;
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					More by Franco Dal Molin, CEO at Value Leap
				
			
		]]></description><link>https://fintechnews.eu/where-and-how-to-find-the-best-technology-partners-for-fintech-companies</link><guid>3379</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-with-Code-1.jpeg?x75906</dc:content ><dc:text>Where and How to Find the Best Technology Partners for Fintech Companies</dc:text></item><item><title>Adoption of Mobile Payment Apps Among Swiss Online Retailers Soars</title><description><![CDATA[
									
					
							
					In Switzerland and Austria, online retailers are embracing mobile wallets at a fast pace, with local player Twint but also Apple Pay and Google Pay witnessing strong traction, a new report by the Zurich University of Applied Sciences (ZHAW) and the Management Center Innsbruck (MCI) shows.
The report, titled Onlinehandlerbefragung 2023, draws on a survey conducted in September 2023 that polled nearly 600 online shops from Switzerland and Austria in various sectors and operating under different models to understand the state of online commerce and the different trends emerging in the space.
Findings of the survey show that mobile payments are growing in Switzerland, with Twint in particular rising to prominence. In 2023, the mobile payment app was the second most integrated payment method among Swiss online merchants behind credit cards (90%), with four out of five (79%) Swiss online shops polled indicating supporting Twint.




   



    
   


   








Payment methods Swiss and Austria online shops are supporting, Source: Onlinehandlerbefragung 2023, Zurich University of Applied Sciences (ZHAW) and Management Center Innsbruck (MCI), Oct 2023
Twint sees spectacular growth
Founded in 2016, Twint is a mobile payment method in Switzerland that allows users to connect their bank account or card through an app to make payments online and at brick-and-mortar stores. Twint claims more than 5 million users and says it carried out a total of 386 million transactions in 2022, a figure that surpasses all of the previous years since the app was launched combined and which showcases the accelerated growth it has witnessed over the past few years.
Looking more closely at historical data, the report reveals that Twint is the payment method that has risen the strongest in Switzerland. In 2018, only 24% of Swiss online shops supported the payment method but that rate quickly grew, reaching 52% in 2021 and 74% in 2022.
The rise of Twint in Switzerland demonstrates a broader trend in the country’s e-commerce sector where mobile payment apps are witnessing faster adoption than any other method method. The trend is noticeable with foreign platforms Apple Pay and Google Pay, which too have risen in popularity not just among Swiss online retailers but also Austrian merchants, growing from less than 4% in terms of acceptance rates in 2018 to now about 20%.
At the other end of the spectrum, more conventional methods including credit cards, payment by invoice, PayPal and PostFinance, the financial services unit of the Swiss Post, have recorded more moderate growth partly of widespread acceptance.
Adoption rates of payment methods among online retailers from 2018 to 2023, Source: Onlinehandlerbefragung 2023, Zurich University of Applied Sciences (ZHAW) and Management Center Innsbruck (MCI), Oct 2023
Looking at broader trends, the study found that credit cards are the most adopted payment method among online retailers in both Switzerland and Austria with a penetration rate of 90%. PayPal ranks second in Austria (83%) where the online payment method is much more popular than in Switzerland (55%).
Klarna, a major buy now, pay later (BNPL) solution provider, is another payment method that’s seeing booming traction among Austrian retailers and which is being adopted by 47% of them compared to a mere 6% for Swiss merchants.
The ten most common payment methods offered by online retailers by market, online shop size and business type, Source: Onlinehandlerbefragung 2023, Zurich University of Applied Sciences (ZHAW) and Management Center Innsbruck (MCI), Oct 2023
Payrexx emerges as top payment service provider among Swiss online retailers
The study, which also sought to uncover which payment service providers Swiss and Austrian online retailers work with to handle transactions, found that Payrexx, with 27% of the mentions, was the most popular provider among small online shops in Switzerland.
Founded in 2015 and based in Thun, Switzerland, Payrexx is an online payment platform for small businesses that allows merchants to support all major Swiss payment methods from a single source. The company claims 50,000 customers.
After Payrexx and with 23% of the mentions is PayPal, followed by Saferpay by Worldline (22%), and PostFinance E-Payment (19%).
In Austria, PayPal was found to be the most prominent payment service provider (57%), ahead of Stripe (24%) and Mollie (17%).
Payment service providers Swiss and Austrian online retailers are working with, Source: Onlinehandlerbefragung 2023, Zurich University of Applied Sciences (ZHAW) and Management Center Innsbruck (MCI), Oct 2023
Online retailers were also asked if they supported BNPL arrangements, to which 11% of respondents said they did. The figure is below that of 2022, during which 17% of online retailers offered BNPL payment options.
The online stores that provided BNPL arrangements said they worked with Klarna (BillPay) the most (29%), followed by the MF Group (24%). CembraPay, a fairly new player in the scene, took the third place with 18% of mentions.
CembraPay, a brand that came out of the merger between Byjuno and Swissbilling, was launched in April 2023 and offers a wide range of payment solutions including BNPL and embedded payment services.
Other BNPL solutions used by Swiss and Austrian online retailers include HeidiPay, Bob Pay, PayPal Plus, Ideal Payment, Twint Pay Later and Unzer (Payolution).
Adoption of buy now pay later (BNPL) arrangements among Swiss and Austrian online retailers, Source: Onlinehandlerbefragung 2023, Zurich University of Applied Sciences (ZHAW) and Management Center Innsbruck (MCI), Oct 2023
Soaring adoption of mobile payment capabilities among Swiss merchants comes at a time when payment apps are seeing increased usage among consumers. A 2022 study conducted by the Swiss National Bank found that mobile payment apps are being used increasingly often by the Swiss population, increasing its volume share to 11% of transactions in 2022, up 6% points from 2020’s 5%.
Twint currently stands as the most used mobile payment app in Switzerland, adopted by 57% of the 380+ Swiss residents surveyed by Statista earlier this year. Twint is followed by Apple Pay (39%), Google Pay (32%) and PostFinance (12%).
Most used mobile payments by brand in Switzerland as of June 2023, Source: Statista Consumer Insights, Aug 2023

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/adoption-of-mobile-payment-apps-among-swiss-online-retailers-soars</link><guid>3378</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x75906</dc:content ><dc:text>Adoption of Mobile Payment Apps Among Swiss Online Retailers Soars</dc:text></item><item><title>BNP Paribas Launches Fintech Marketplace Panto</title><description><![CDATA[
									
					
							
					The autonomous fintech was created thanks to the partnership between BNP Paribas and the 321founded Corporate Startup Studio to develop an innovative, secure solution.
Co-founded by the entrepreneurial team at 321founded and BNP Paribas, Panto offers a marketplaces with a dedicated payment management solution. The fintech is aiming for rapid penetration of the European payments market, and intends to position itself as a made-in-Europe alternative. Guillaume Massis (ex Intuit, co-founder of Airtag) takes over the management of the startup.
Neil Pein
” With Panto, we want to contribute to the creation of a leading player in marketplaces and, more generally, in the platformization of commerce. For its launch, Panto can count on the strength of BNP Paribas, present across the entire payment value chain and Europe’sNo. 1 corporate bank. I’m convinced that the team, led by Guillaume Massis, will succeed in positioning Panto as one of the leading payment players for marketplaces, thanks to its market-leading offering ,”
says Neil Pein, Head of Payments Transformation and New Digital Businesses, BNP Paribas Group.‍




   



    
   


   








Guillaume Massis
“Right from the start, we’ve set ourselves the highest industry standards in terms of integration, functionality and technology, at a competitive price,”
explains Guillaume Massis, CEO of Panto.
‍Initially, Panto is targeting European BtoC e-commerce players, in particular the leading marketplaces that are BNP Paribas customers. At a later stage, the fintech could extend to the European BtoB and CtoC markets, with international sellers.
“Our aim is to become one of Europe’s leading marketplace payment solutions. Although there is a lot of competition in this market, it remains vast and continues to grow,”
continues Guillaume Massis.
Panto is scheduled for launch in the first half of 2024. Until payment institution approval is obtained, the fintech will operate as an agent of BNP Paribas.


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	]]></description><link>https://fintechnews.eu/bnp-paribas-launches-fintech-marketplace-panto</link><guid>3377</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x75906</dc:content ><dc:text>BNP Paribas Launches Fintech Marketplace Panto</dc:text></item><item><title>Relio startet mit Digitalem-Geschäftskonto für die Schweiz</title><description><![CDATA[
									
					
							
					Das Zürcher Fintech Relio gibt den Startschuss für sein Online-Geschäftskonto. Ab sofort können Unternehmen ein Konto mit Schweizer IBAN eröffnen und von der 100% digitalen Lösung profitieren.
Hinter Relio steht ein erfahrenes Team um den CEO Lav Odorovic, welcher zuvor in Deutschland die KMU-Neobank Penta gegründet hat. Unterstützt wird das Startup von den Investoren TX Ventures, SIX Fintech Ventures und dem High-Tech Gründerfonds.
Go-Live für digitales Schweizer Geschäftskonto
Das Warten hat ein Ende. Nach Monaten intensiver Entwicklungsarbeit und ausgiebigen Tests können Firmenkunden ab sofort ein Online-Geschäftskonto bei Relio eröffnen.




   



    
   


   








Lav Odorovic
“Nach der CHF 3 Millionen Finanzierungsrunde im Januar und der Erlangung der FINMA-Fintech-Lizenz im März, markiert das Go-Live den dritten Meilenstein, den wir in diesem Jahr erreichen wollten”,
so Lav Odorovic, CEO und Mitgründer von Relio.
Zum Marktstart bietet Relio ein CHF-Konto mit Schweizer IBAN. Damit können Firmenkunden eingehende Überweisungen in Schweizer Franken aus der ganzen Welt empfangen und ausgehende Zahlungen schweizweit tätigen. Transaktionen an ausländische Empfänger, weitere Währungen, Multi-Währungskonten und Debit-Karten sind demnächst verfügbar.
Die Lösung für anspruchsvolle Unternehmen
Neben Freelancern, KMU und Startups ist das Angebot von Relio auch für Firmenkunden mit komplexen Geschäftsmodellen und internationalen Transaktionen interessant. In diesem Marktsegment erfordern die Compliance- und Geldwäschevorschriften sowohl auf Seiten der Banken als auch der Kunden erheblichen Aufwand.
Aufgrund zeitaufwendiger Due Diligence-Verfahren mussten diese Firmenkunden oft wochenlang auf die Eröffnung eines Kontos warten. Relio begegnet diesem Problem, indem es zahlreiche Compliance-Aufgaben automatisiert. Das Fintech-Unternehmen hat dazu einen Algorithmus entwickelt, der diese Compliance-Checks schnell, präzise und weitgehend automatisiert durchführt. Mit diesem Ansatz erhalten künftig auch komplexere Firmen schnell und unbürokratisch ein Konto mit Schweizer IBAN.
Anmerkung der Redaktion: Das Mutterhaus von Fintechnews.ch hat gestern ein Konto bei Relio beantragt. Der Fragekatalog ist ca 50 Fragen lang, Fintechnews.ch wird berichten wie lange es bis zur Eröffnung dauert.


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	]]></description><link>https://fintechnews.eu/relio-startet-mit-digitalem-geschaftskonto-fur-die-schweiz</link><guid>3374</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x75906</dc:content ><dc:text>Relio startet mit Digitalem-Geschäftskonto für die Schweiz</dc:text></item><item><title>Eurex Expands Its Crypto Derivatives Suite With Options on FTSE Bitcoin Index Futures</title><description><![CDATA[
									
					
							
					Eurex was the first exchange in Europe to offer Bitcoin index futures in April 2023. After this successful implementation, Eurex now expands the trusted path to crypto with the launch of Options on FTSE Bitcoin Index Futures. This is another major milestone in Eurex’s ambition to offer secure access to cryptocurrencies in a regulated market environment.
Regulated access to cryptocurrencies
The cryptocurrency market has undergone a volatile period in the past year. This has highlighted the need of a credible, safe, and regulated marketplace supporting the trading and risk management of digital assets. Institutional investors have shown broad interest for this new offering, based on a robust underlying index from our established index partner FTSE Russell, which is supported by Eurex Clearing, an AA-rated clearing house in Europe.
Randolf Roth
Randolf Roth, Member of the Executive Board of Eurex Frankfurt AG:




   



    
   


   








“Investors need robust trading and clearing safeguards when engaging in the crypto market. Eurex is a renowned regulated exchange, with a trusted platform and appropriate safeguards offering multi-asset class trading. With our extended crypto derivatives suite, we offer a trusted path to crypto.”
Shawn Creighton
Shawn Creighton, Director of Index Derivatives Solutions at FTSE Russell, an LSEG business:
“The right derivatives strategy starts with the right index, and our digital asset indices apply the same rigorous policy and governance framework used across our equity and fixed income products. FTSE Russell is excited to support this expansion of the digital assets’ ecosystem and it reinforces the importance of the vetting methodology we have created in collaboration with Digital Asset Research (DAR), that has set a standard for digital asset and exchange index inclusion.”
New contracts are listed as Options on Futures in EUR and USD, with the respective Bitcoin index future as underlying, equivalent to 1 Bitcoin. Both Options and Futures expire at the same time (17:00 CET) on the last Friday of the month. Alongside monthly and quarterly maturities, weekly expiring contracts will also be available to trade. FTSE Bitcoin Index (USD &amp; EUR) is the reference rate for the final settlement for the underlying futures contracts. It is determined as the volume time weighted average of the FTSE DAR Digital Asset Price over the 15-minute period before the fixing time. Liquidity will be supported by orderbook and over-the-counter liquidity providers.
Bitcoin index futures with high volume since launch
With the support of Liquidity Providers and Clearing Members, Bitcoin index futures were successfully launched in April 2023. Since its introduction more than 50,000 contracts and USD 1.3 bn notional were traded. Bitcoin index Options will enable investors to hedge their Bitcoin exposure and deploy new trading strategies. Additionally, options provide investors access to the Bitcoin volatility risk premium in a regulated environment with institutional grade trading and clearing safeguards.

Featured image credit: Edited from freepik


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	]]></description><link>https://fintechnews.eu/eurex-expands-its-crypto-derivatives-suite-with-options-on-ftse-bitcoin-index-futures</link><guid>3375</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x75906</dc:content ><dc:text>Eurex Expands Its Crypto Derivatives Suite With Options on FTSE Bitcoin Index Futures</dc:text></item><item><title>Switzerland and Liechtenstein Remain Dynamic Centers for Crypto Asset Investments</title><description><![CDATA[
									
					
							
					Switzerland and Liechtenstein are maintaining their positions as vibrant hubs for crypto asset investments, a leadership that’s manifested by rising adoption of cryptocurrencies and digital assets, increased integration of crypto assets into traditional banking systems and the continuous introduction of new products and services in the sector, a new report by the Institute for Financial Services Zug (IFZ) of the Lucerne University of Applied Sciences and Arts shows.
The 2023 edition of the Crypto Assets Study, released provides an overview of the crypto asset industry, focusing particularly on developments in the crypto asset investment ecosystem in Switzerland and Liechtenstein.
According to the study, the crypto asset industry has shifted from being a segment reserved to young and innovative startups to now being a category of products and services that is being provided by and to established financial providers as well.




   



    
   


   








Banks and institutions integrate crypto asset offerings
With increased adoption of crypto assets by private and institutional investors, banks in Switzerland and Liechtenstein are ramping up crypto asset efforts and integration.
In April, Switzerland’s fifth largest financial services firm, PostFinance, announced that it would start offering its 2.5 million customers access to cryptocurrencies, including trading and storage capabilities, through a partnership with digital asset bank Sygnum.
Most recently, Sygnum teamed up with Swiss cantonal bank, Zuger Kantonalbank, to launch a mobile-friendly crypto offering, allowing the institution’s customers to buy, hold and trade popular cryptocurrencies including bitcoin and ether.
A survey of 92 stakeholders conducted as part of the IFZ report found that the local ecosystem is catering to this trend, unveiling that most crypto asset providers in Switzerland and Liechtenstein are pursuing a business-to-business (B2B) strategy with 76% of the companies polled targeting non-finance corporates, 71% targeting banks, 68% targeting family offices and 75% targeting other institutional clients.
In comparison, 66% of the companies polled serve private clients and 52% focus on retail clients. Only six companies (7%) exclusively pursue a business-to-consumer (B2C) strategy without additionally serving business customers.
Customer segments of surveyed companies, Source: Crypto Assets Study 2023, Institute for Financial Services Zug IFZ, Lucerne University of Applied Sciences and Arts, Aug 2023
Tech infrastructure, wealth management among most prevalent offerings
Looking at the product offerings available in the market, the study found that over half of the companies surveyed (54%) provide technological infrastructure facilitating crypto investments for third parties, making it the most prevalent product. Specifically, 32% of the companies in the sample offer infrastructure services exclusively, whereas 9% facilitate infrastructure and direct investments.
After infrastructure, direct investment in crypto assets is the second most prevalent product in Switzerland and Liechtenstein with 45% of the surveyed companies offering access to cryptocurrencies such as bitcoin and ether.
Indirect financial products, on the other hands, such as exchange-traded products (ETPs) and open-end funds with crypto asset relevance, are offered less frequently in comparison. More precisely, 35% of the companies surveyed offer structured products, 27% offer funds, and 20% offer derivatives.
Product offerings of surveyed companies, Source: Crypto Assets Study 2023, Institute for Financial Services Zug IFZ, Lucerne University of Applied Sciences and Arts, Aug 2023
Besides product offerings, the study also looks at the services available in the market, revealing that asset and/or wealth management (45%) is the most prevalent service, followed by custody solutions (38%) and exchange services (37%).
Asset tokenization and issuance is offered by 33% of the companies surveyed, and brokerage services by 32%. The lending of crypto assets, by contrast, is less common, with only 15% of all companies offering corresponding services.
Service offerings of surveyed companies, Source: Crypto Assets Study 2023, Institute for Financial Services Zug IFZ, Lucerne University of Applied Sciences and Arts, Aug 2023
Crypto adoption on the rise despite slumping markets
The report notes that the growth of the crypto asset investment landscape in Switzerland and Liechtenstein has been driven by increased adoption of the emerging asset class.
A survey conducted by Statista polled 2,000+ Swiss residents and found that 21% of respondents owned or used crypto assets in 2023. The rate is double what was observed in 2019 during which just 10% of respondents indicated owning or using cryptocurrencies.
This showcases that adoption is rising quickly in Switzerland and at a faster pace than other locations, including Spain, the Netherlands and China, the data show. It also reveals that Switzerland is the 11th biggest adopter of cryptocurrencies in the world.
Share of respondents who indicated either owning or using crypto, Source: Statista Consumer Insights, Aug 2023
Despite rising adoption of cryptocurrencies, the IFZ report shows that crypto trading has declined substantially in Switzerland and Liechtenstein since its all-time highs of 2021.
In H1 2023, indirect investments in cryptocurrencies through ETPs and open-end funds amounted to CHF 2.9 billion, which represents a decline of 54% compared to CHF 6.1 billion in November 2021.
Total assets of ETPs and open-end funds, Source: Crypto Assets Study 2023, Institute for Financial Services Zug IFZ, Lucerne University of Applied Sciences and Arts, Aug 2023
As for direct investments through exchanges, the study found that an estimated total volume of CHF 2.1 billion was traded by Swiss investors on platforms such as Binance, Kraken and Bitrue in June 2023, representing a decline of nearly 90% compared to the monthly peak of CHF 19 billion recorded in May 2021.
Monthly spot trading volume on centralised crypto exchanges from Switzerland, Source: Crypto Assets Study 2023, Institute for Financial Services Zug IFZ, Lucerne University of Applied Sciences and Arts, Aug 2023
Switzerland has emerged into one of the largest and most advanced crypto hubs in the world. According to the Greater Zurich Area, the official investment promotion agency of the economic region of Zurich, the country hosts some 1,135 blockchain companies, among them unicorn startups and some of the world’s biggest cryptocurrencies such as Ethereum, Cardano and Tezos.
At the end of 2022, the top 50 blockchain entities in Switzerland and Liechtenstein collectively held a value of US$185 billion, accounting for 23% of the entire crypto market which was estimated at the time at US$798 billion.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/switzerland-and-liechtenstein-remain-dynamic-centers-for-crypto-asset-investments</link><guid>3376</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Switzerland and Liechtenstein Remain Dynamic Centers for Crypto Asset Investments</dc:text></item><item><title>Invesco bietet neu kostenlosen ETF-Handel  via Neon an</title><description><![CDATA[
									
					
							
					Invesco Asset Management und Schweizer Callenger-Bank neon, kündigen eine langfristige Partnerschaft an.
Die Kooperation ist langfristig ausgelegt. In einem ersten Schritt sind ab sofort zwei ETFs von Invesco (Invesco FTSE All World ETF und Invesco MSCI Paris Aligned ESG ETF) kostenlos auf der neon-Plattform handelbar.
Die Handelskosten für ETFs bei Schweizer Finanzdienstleistern liegen bei einer Investition von 1‘000 CHF in der Regel zwischen zehn bis 40 CHF zuzüglich zehn bis 20 CHF für einen möglichen Währungswechsel.




   



    
   


   








Mit dem nun kostenlosen Handel der beiden ETFs, die bereits in Schweizer Franken aufgelegt sind, bieten neon und Invesco nun eine Geldanlage, die nur noch die Managementkosten der ETFs, jedoch weder Depotgebühren noch Währungshandels- oder Transaktionskosten umfasst. Schon bisher erhebt neon keine Depotgebühren und die Managementkosten der beiden ETFs von Invesco gehören zu den günstigsten weltweit.
Mit dieser Aktion schaffen die Kooperationspartner ein Einstiegsprodukt, das mit einer Investitionshöhe ab fünf CHF das digitale Anlagesparen für Jedermann und -frau möglich macht.
Nima Pouyan
Nima Pouyan, Leiter Institutional Business &amp; ETF Invesco Schweiz und Liechtenstein kommentiert:
„Als internationaler Asset Manager sind Innovation und Technologie feste Bestandteile unserer DNA. Zugleich sind wir stark in der Schweiz verankert und fördern mit dieser Kooperation den Wissenstransfer zwischen Etablierten und Challengern. Damit stärkt Invesco auch die digitalen Geldanlagemöglichkeiten für Schweizer und Schweizerinnen.“
Julius Kirscheneder
Julius Kirscheneder, Mitgründer von neon fügt hinzu:
“Diese Allianz unterstreicht unser Engagement, unseren Kunden und Kundinnen ein unvergleichliches, digitales Produkt zu bieten. Die Kostenstruktur von Bankdienstleistungen und Anlageprodukten in der Schweiz ist im Ländervergleich noch immer zu hoch. Mit der Kooperation setzen sich Invesco und neon gemeinsam an die an die Speerspitze für das Anlagesparen der Schweizer und Schweizerinnen und ihre Basisvorsorge mit ETFs.“
Seit der Einführung im Sommer 2023 haben bereits 25‘000 der 180‘000 neon Kunden und Kundinnen ein Depot eröffnet. Der Anteil der ETFs am gehandelten Gesamtvolumen beträgt bereits in den ersten Monaten 38%, was die Nachfrage vor allem nach günstigen internationalen ETF-Anlagemöglichkeiten unterstreicht.



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	]]></description><link>https://fintechnews.eu/invesco-bietet-neu-kostenlosen-etf-handel-via-neon-an</link><guid>3373</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Invesco bietet neu kostenlosen ETF-Handel  via Neon an</dc:text></item><item><title>Nuvei and Esenda Collaborate to Offer E-Payments for Education Fees</title><description><![CDATA[
									
					
							
					Nuvei Corporation has partnered with Esenda, a UK-based independent school fee management field, to collaboratively unveil an online platform for tuition fee collection and income management.
The collaboration works by fusing Nuvei‘s payment technology with Esenda’s detailed fee management system, presenting educational institutions with a solution that elevates payment efficiency while maintaining security.
Through this partnership, educational institutions can facilitate online payments for various expenses including tuition, corporate debentures, extracurricular activities, and other student-associated charges. Beyond traditional card payments, schools will perform a single integration with Nuvei and Esenda that will enable them to access every applicable global alternative payment mode, catering to students and their families irrespective of their location.




   



    
   


   








Nuvei’s technology suite incorporates supplementary features that can adapt to fine-tune payment processes, encompassing advanced risk management, streamlined reconciliation, tools ensuring customer authentication compliance, and a unified payment orchestration system that comes with comprehensive reporting and data transparency. Nuvei says these adaptable features will provide heightened operational efficacy and improved oversight.
On the other hand, Esenda’s platform streamlines fee acquisition by aligning with academic institutions’ financial infrastructures. It boasts functionalities such as instantaneous invoice monitoring, automated matching of payments, timely alerts for overdue payments, and swift report creation, making a big difference in refining the fee management process.
Philip Fayer
Nuvei Chair and CEO Philip Fayer commented on how the partnership can complement educational institutions,
“Enabling education providers to upgrade their student experience by making tuition and day-to-day payments simple and convenient is a great example of the role payments can play in building customer relationships in any sector.”
The companies said the collaborative platform has already been rolled out at a leading educational entity in Dubai, granting the establishment the capability to process global payments digitally, inclusive of card transactions from major regional issuers, for the first time.

Featured image credit: Nuvei Chair and CEO Philip Fayer


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	]]></description><link>https://fintechnews.eu/nuvei-and-esenda-collaborate-to-offer-e-payments-for-education-fees</link><guid>3372</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Nuvei and Esenda Collaborate to Offer E-Payments for Education Fees</dc:text></item><item><title>Goodbye Password: G+D Presents 3 User Friendly Use Cases of How Passwordless Authentication Can Help</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 18, 2023
																				





					
					
							
					Passwords and OTPs belong to the past. Financial institutions and forward-looking enterprises alike are looking for more seamless, yet secure ways to authenticate their employees and customers.
Giesecke+Devrient (G+D) presents three examples that can benefit from passwordless multi-factor authentication (MFA) while combatting frauds and providing an enhanced user experience.
The IDC European Security Survey 2022 revealed that poor password hygiene is the greatest challenge in the area of identity and access controls in almost every second company (44%). Particularly worrying is the high level of password recycling, with no distinction between private passwords and those used to access an organization’s systems.




   



    
   


   








Passwords are the root cause of over 80% of data breaches. Meaning a breach in private use could lead to a hack of the organization’s systems. In addition to security concerns related to password-related frauds, there are often pragmatic or operational challenges, such as typing passwords in difficult environments or for workers in manufacturing or at industry sites. According to IDC more than a third of organizations are struggling to balance robust security and positive user experience.
The banking journey looks no different. Entering an ID and password to log in to any website or app is also no longer fit for purpose. According to the FIDO Alliance, 89% of web application breaches were caused by stolen or compromised passwords in 2021. Not only are passwords often the target of phishing attempts, it is also a pain point for consumers to remember multiple passwords for their online accounts.
As a result, consumers often reuse the same password, leaving all their accounts vulnerable in the event of a data breach. Multi-factor authentication methods, such as one-time passwords (OTP) and SMS, have been introduced to reduce the risks associated with passwords. However, there are several limitations for both customers and banks, like clunky user experience, susceptibility to phishing, lack of control, and hidden costs, such as dealing with fraudulent activity, which costs banks a lot of time, money, and resources.
Andrew Shikiar
“A lot of the regulations around authentication are fixated on solving a problem that’s fundamentally tied to the primary factor of authentication that we’ve had for 60 years, which is the password,”
says Andrew Shikiar of the FIDO Alliance. “Passwords are the problem.”
Founded in 2013, the FIDO (Fast IDentity Online) Alliance is an association of leading technology, financial and industrial companies, including Apple, Google, Microsoft and Mastercard. Recognizing the growing importance of data protection, the alliance aims to reduce the reliance on passwords and to implement password-free login methods in the future.
It is critical that authentication solutions manage the complexity of back-end security while providing only a single, unified process for the end user. Optimizing MFA by combining biometrics (face, iris, fingerprint) and possession factors creates a passwordless mechanism. This enables financial institutions and forward-thinking enterprises alike to balance a seamless experience with robust security for employees and customers.
Using three practical examples, G+D shows how companies and financial institutions can benefit from implementing passwordless authentication solutions in their daily practice.

Physical access. The identification of authorized employees should no longer depend solely on numeric entries or the use of easily stolen access cards at building entrances. Biometric methods, such as iris or fingerprint scanning, are the way forward. Typing in passwords is sometimes not the preferred option, especially in challenging environments such as manufacturing plants or heavy industries where staff wears protective clothing.
Workplace authentication and secure communication. As hybrid working continues to rise, employees must authenticate across multiple devices, systems, applications, and physical locations to securely communicate and exchange data. Unified and passwordless authentication solutions that maximize user convenience while maintaining the right level of security are critical.
Securing access to accounts and payments. Financial institutions have to comply with regulatory mandates that ensure that the payment ecosystem is protected down to the account holder level. The financial industry worldwide is experiencing a massive surge in fraud and scams. Passwordless MFA addresses both of these factors and balances them with customer-friendly processes. For instance, customers can easily confirm their identity by scanning their face or fingerprint during transactions, making authentication as easy as unlocking their phone.



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	]]></description><link>https://fintechnews.eu/goodbye-password-gd-presents-3-user-friendly-use-cases-of-how-passwordless-authentication-can-help</link><guid>3370</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Goodbye-Password-GD-Presents-Three-Use-Cases-of-How-Passwordless-Authentication-Can-Help-to-Defend-Against-Fraud-and-Enhance-User-Experience-1440x564_c.jpg?x22212</dc:content ><dc:text>Goodbye Password: G+D Presents 3 User Friendly Use Cases of How Passwordless Authentication Can Help</dc:text></item><item><title>Fintech M&amp;A Activities Remains High in Europe</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 18, 2023
																				





					
					
							
					In Europe, mergers and acquisitions (M&amp;A) activity in the fintech sector remains vigorous as traditional financial institutions and established fintech companies are capitalizing on the venture funding slowdown and the global markets turmoil to snap up young startups to fuel their digital transformation strategies and drive growth, a new report by international law firm White and Case shows.
The report, released on September 18, looks at the fintech M&amp;A landscape in the UK and Europe, exploring the market consolidation wave that’s taken hold of the region’s fintech sector and delving into the key trends observed over the past year or so.
According to the report, more than 55 consolidation deals have been recorded in the previous 15 months, and over 20 significant partnerships have been announced in the past 12 months, revealing continued consolidation in the fintech sector.




   



    
   


   








Banks’ fintech M&amp;A and funding activity
Many of these acquisition deals involved banks purchasing “plug and play” fintech startups to address a variety of challenges, including cost containment, error reduction, cybersecurity and competition from innovative financial players, the report notes.
These deal included JP Morgan’s acquisition of Renovite, a cloud-native payments technology company from the US, as well as Komercni banka’s acquisition of Upvest, a Czech real-estate investment platform.
JP Morgan announced plans in September 2022 to purchase Renovite to help it build its next-generation merchant acquiring platform, bolster its payments modernization strategy and support its journey to the cloud. Meanwhile, Komercni banka, a member of the Societe Generale international financial group, acquired a majority stake in Upvest in August 2022 in a bid to expand into the crowdfunding space.
Other institutions, meanwhile, adopted a more cautious approach by investing in startups and by partnering with innovative ventures. These tie-ups focused on establishing strategic partnerships to tap new niches and tech capabilities, and included the joint venture between Santander, Allianz Trade and Two, the tie-up between Deutsche Bank and Credi2, as well as JP Morgan Private Bank’s strategic equity investments in both Edge Laboratories and Evooq.

The partnership between Santander, Allianz Trade and Two, unveiled in January 2023, focuses on developing a business-to-business (B2B) buy now, pay later (BNPL) payment solution for large and multinational corporations;
The collaboration between Deutsche Bank and Credi2, an embedded finance specialist, was announced in July 2022 and aims to develop a payment solution for invoice and installment purchase; and
JP Morgan, meanwhile, invested in Swiss wealth management software services companies Edgelab and Evooq in December 2022 in a bid to strengthen its digital investments capabilities for ultra-high-net-worth clients across Europe, the Middle East, Latin America and Asia.

Top fintech verticals for consolidation
Across all major fintech segments, insurtech, consumer finance and open banking were the verticals that witnessed the most consolidation activity in the previous 12 months both in the form of acquisitions of smaller competitors and through strategic tie-ups, the report says.
In the insurtech segment, Total Specific Solutions, Clark Group and +Simple all inked acquisitions during the period, snapping up companies such as Prima Solutions, a French insurtech group; Anorak, an automated life insurance advice platform; and GMBC, a German insurance company that helps companies set up and run managing general agents (MGAs).
In consumer finance, Scalapay and ValU, two BNPL players, and PNL Fintech, a company that provides financial and business management software for entrepreneurs and businesses, made several purchases over the past year, acquiring Cabel IP, Paynas and Finadvant, respectively.
Cabel IP is an Italian payment institution, Paynas is a digital platform tailored for small and medium-sized enterprises (SMEs), and Finadvant is an online business banking software designed to facilitate international trade.
All three acquisitions were meant to strengthen the acquirers’ offerings and access new capabilities.
Finally, in open banking, consolidation deals included Fintech Galaxy’s acquisition of Egyptian rival Underlie, GoCardless’s acquisition of Nordigen and Weavr’s acquisition of Comma Payments.
The Underlie deal allowed Fintech Galaxy to boost its expansion across the Middle East and North Africa (MENA) region; the Nordigen deal allowed GoCardless, a digital bank payment specialist, to incorporate next-generation open banking connectivity into its account-to-account network; and the Comma Payments deal allowed Weavr to become the first embedded finance provider to combine banking-as-a-service (BaaS) and open banking into an embedded payment solution for B2B applications.
M&amp;A activity rebounds in DACH
After a dip in 2022, M&amp;A activity rebounded considerably this year across Europe, especially in Germany, Austria and Switzerland, also referred to as the DACH region, a new report by investment bank Clipperton reveals.
In the first half of 2023, the DACH region witnessed a 54% increase in the number of M&amp;A transactions compared to the same period in 2022, which totaled 235 transactions. Transaction volume surged by 59% during the period, showcasing reviewed interest in strategic acquisitions.
Notable deals in H1 2023 included the sale of Airplus, Lufthansa Group’s payment specialist, to Swedish bank SEB Kort for EUR 450 million, as well as the sale of online pharmacy Zur Rose’s Swiss business unit to rival Medbase for CHF 361 million.
Growth and venture capital (VC) funding volume and number of rounds, Source: Clipperton, Sifted, Oct 2023
The surge in M&amp;A activity in DACH comes at a time when growth funding in the region is declining considerably. In H1 2023, DACH startups secured a mere EUR 2.7 billion in funding, down by a significant 66% year-over-year.
M&amp;A volume and number of deals in DACH, Source: Clipperton, Sifted, Oct 2023
This decline was accompanied by a decrease in megarounds of EUR 100 million and up, which saw their share shrink from making up 59% of all capital raised in 2021 to just 18% in H1 2023.
Percentage of investment per round size in DACH, Source: Clipperton, Sifted, Oct 2023


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	]]></description><link>https://fintechnews.eu/fintech-ma-activities-remains-high-in-europe</link><guid>3371</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-MA-Activity-Remains-High-in-Europe-as-Banks-Pursue-Digital-Ambitions-and-Established-Players-Pivot-to-Acquisitions-to-Fuel-Growth-1440x564_c.jpg?x22212</dc:content ><dc:text>Fintech M&amp;A Activities Remains High in Europe</dc:text></item><item><title>UBS Launches Digital Platform for Structured Products in Asia</title><description><![CDATA[
									
					
							
					UBS Global Wealth Management has gone live with a digital platform for structured products in Singapore and Hong Kong, providing customers in the two locations with access to a wide selection of products, the ability to customize these products, and the ability to trade them on the go through UBS’s online banking platforms.
The product, called UBS Structured Products Digital, allows clients to personalize and transact popular structured products via UBS E-Banking and UBS Mobile Banking. Through the platform, users can access investment products linked to 1,500 underliers across major equity markets, exchanges and sectors, create baskets of equities, customize these products and determine their parameters, set the tenors they deem the most appropriate, and confirm trades within minutes.
UBS Structured Products Digital platform, Source: UBS
Structured products are financial instruments that combine various traditional financial assets like stocks, bonds, options, and derivatives into a single investment product. These products are typically designed to meet specific investment objectives and risk tolerance of investors. They are also highly customizable and can be tailored to provide investors with exposure to a diversified portfolio of assets through just one investment.




   



    
   


   








Nicola Pantone, UBS’s co-head of unified global markets for Asia-Pacific (APAC) told Citywire Asia that the UBS Structured Products Digital platform aims to address the rise in demand for these investment products. The bank said that at launch, the platform will focus on providing access to equity-linked notes (ELNs) and reverse convertible notes (RCNs), but it will eventually expand its list of structured products available later on.
UBS Structured Products Digital is part of the bank’s digital wealth and trading offering, which already provides clients with UBS My Way, a hybrid digital wealth management platform; We.UBS, a digital-led platform offering wealth management services to affluent clients in China; and UBS Neo, a multi-asset trading platform that’s used by more than 1.8 million UBS customers.
An expanding wealthtech sector
The expansion of UBS’s digital wealth proposition comes at a time when tech startups are developing advanced wealth management platforms and intuitive advisory solutions to tap Asia’s middle-class population. Some of these startups have gained considerable traction and are now expanding beyond their borders.
Endowus, an independent digital wealth startup from Singapore, claims it witnessed a revenue growth of 80% in 2022 and says it now serves over a hundred thousand clients with content, advice and access, managing more than US$5 billion worth of assets.
The startup, which was founded in 2017, operates in Singapore and Hong Kong, providing a wealth platform that spans both private wealth and public pension savings.
Syfe, another Singaporean wealthtech startup, claims more than 100,000 customers in its home country. Launched in 2019, the company offers a holistic range of solutions across both managed portfolios and brokerage services to retail clients, and recently expanded to Hong Kong.
Asia’s wealthtech startups are rising on the back of increased adoption of digital financial solutions. A 2022 study commissioned by insurer Prudential Singapore polled 800 Singapore residents aged 25 to 65 and found that more than four in five (85%) respondents are skilled at using mobile banking apps, while 70% are skilled in financial management apps.
Separately, a 2022 Endowus study, which surveyed 680 Singapore respondents, revealed that digital investment platforms are rising in popularity, with 90% of respondents indicating using digital wealth platforms and robo-advisors.
Asia’s booming asset and wealth management industry
APAC has been witnessing strong economic growth, owing to the region’s regulatory landscape, well-developed infrastructure and open business environment. This has led to a rise in the population of high-net-worth individuals (HNWIs), which now totals about 15 million people, data from KPMG show. The figure makes APAC the home of the second-largest concentration of HNWIs in the world after North America.
PwC expects APAC’s assets under management (AUM) to grow faster than any other regional globally, rising from US$15.1 trillion in 2017 to US$29.6 trillion in 2025.
Total client assets across APAC in US$ trillion, Source: Asset and Wealth Management 2025: The Asian Awakening, PwC 2019
McKinsey projects that the affluent and mass-affluent segments in Asia, particularly those in developing economies, will drive most of this growth. The wealth pool of this group, which comprises households with investable assets of US$100,000 to US$1 million, is projected to hit US$4.7 trillion by 2026, up from US$2.7 trillion in 2021 as Asians’ incomes rise.
For banks and wealth managers, McKinsey estimates the potential incremental revenue from serving these clients to be standing between US$20 billion to US$25 billion, contributing more than half of the industry’s revenue growth in Asia over the next three years.
Wealth pools in Asian market segments, based on household financial wealth, Source: McKinsey and Company, Feb 2023
This article first appeared on fintechnews.sg


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	]]></description><link>https://fintechnews.eu/ubs-launches-digital-platform-for-structured-products-in-asia</link><guid>3369</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/UBS-Structured-Products-Digital-platform-Source-UBS.png?x22212</dc:content ><dc:text>UBS Launches Digital Platform for Structured Products in Asia</dc:text></item><item><title>GenTwo and Swissquote Enter Into Partnership</title><description><![CDATA[
									
					
							
					B2B Fintech GenTwo was able to win Swissquote for its partner network. With this, GenTwo continues to strengthen its unique financial engineering network. Swissquote, known as the first online bank in Switzerland, has joined a growing list of partners on GenTwo’s platform, further enhancing the company’s offering in the market.
The partnership brings significant benefits to both companies and their clients. Swissquote clients now have access to GenTwo’s services, allowing them to create Actively Managed Certificates (AMC) in collaboration with Swissquote across a wide range of assets, including traditional equity, foreign exchange, derivatives, structured products, commodities, and digital assets. This partnership further positions GenTwo as the provider of the most advanced AMC solution available in the current financial market, and so further enhances its value proposition.
GenTwo’s business model centers around empowering investment professionals to create and issue their own customized financial products through its platform. By adding Swissquote to its partner network, GenTwo takes another significant step towards achieving its mission of expanding the investment universe and ensuring all assets are accessible to all investors worldwide.




   



    
   


   








Philippe A. Naegeli
Philippe A. Naegeli, CEO and Co-Founder of GenTwo:
The alignment between GenTwo and Swissquote goes beyond their shared goals of expanding access to financial markets. Both companies are driven by the vision of democratizing banking. The collaboration offers professional investment and wealth managers a unique opportunity to create Actively Managed Certificates within the Swissquote universe.
Jan De Schepper
Jan De Schepper, Chief Sales and Marketing Officer of Swissquote:
Our history has been characterized by constant development for more than 20 years. The market, our customers and their requirements, needs, and expectations are constantly evolving. GenTwo’s platform supports us in expanding our offering for our external asset managers and other institutional clients efficiently and scalably so we can continue to serve those best and further grow together.


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		]]></description><link>https://fintechnews.eu/gentwo-and-swissquote-enter-into-partnership</link><guid>3367</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>GenTwo and Swissquote Enter Into Partnership</dc:text></item><item><title>Digital Banking Adoption Rises X3 in France</title><description><![CDATA[
									
					
							
					Digital banking is booming in France, reaching a total of 25 million users in 2022, data from C-Innovation show. The figure represents an increase of more than threefold over a four year period and marks an impressive rise from the eight million customers the digital banking sector reported in 2018.
In a new report released on September 29, the French fintech-focused research firm looks at the state of digital banking in France, delving into the profound shift the banking industry is witnessing and the brands leading the market.
According to the report, France is undergoing a remarkable transformation in its financial landscape, marked by the blending of traditional banking and fintech innovation. This shift is being driven by changing consumer preferences, demand for convenient digital experiences and a move away from traditional brick-and-mortar banking experience.




   



    
   


   








The transformation is evidenced by the traction digital banking has seen over the past years, the report shows. Between 2018 and 2022, France added more than 3 million new digital current accounts each year. The rise started accelerating in 2019, adding 5 million new customers annually.
Evolution of digital-only users in France (millions), Source: Digital Drives the Evolution and Expansion of France’s Banking Industry, C-Innovation, Sep 2023
France’s digital banking landscape
France is currently home to 47 digital-only brands, with 12 brands providing personal banking services and 10 servicing small and medium-sized enterprises, and professionals.
Digital banking landscape in France, Source: Digital Drives the Evolution and Expansion of France’s Banking Industry, C-Innovation, Sep 2023
Homegrown digital banks are currently leading the domestic market. Lydia is the country’s biggest digital bank in France, holding a 21% market share. Lydia started back in 2013 as a simple money transfer app. The service has since evolved into a full-fledged digital bank, offering payment cards, savings, investments, trading and more. Lydia has raised about US$250 million in funding so far and is one of France’s eight fintech unicorns, data from Dealroom and CB Insights show.
Following Lydia is BoursoBank with a 19% market share. BoursoBank was founded in 1995 as an online broker and has expanded its portfolio of products throughout the years to provide a comprehensive range of financial products encompassing daily banking services, lending, savings, insurance coverage, stock trading, and more. BoursoBank became a subsidiary of Societe Generale in 2014 after the French multinational financial services firm acquired the company.
At the third and fourth positions are Hello Bank and Nickel with a 12% and 11% market share, respectively. Both Hello Bank and Nickel are digital banking services owned by traditional lender BNP Paribas. Hello Bank started operations in 2013 and is available in several European countries including Belgium, Germany and Italy. Nickel, which became a subsidiary of BNP Paribas in 2017 after its acquisition, operates in countries including Spain, Belgium and Portugal.
German N26 and UK-based Revolut follow suit, with a share of 9% each. They are the top two foreign digital banks in the French market.
N26 is licensed digital bank headquartered in Berlin that provides a free basic current account and a debit card, with overdraft and investment products, as well as premium accounts available for a monthly fee.
France is N26’s largest market (27%), ahead of its home country of Germany (20%), the report says. As of 2022, 2.5 million consumers in France had opened an account with N26. 2,000 new clients join the digital bank each day in the country, it claims.
N26, a prominent foreign neobank in France, Source: Digital Drives the Evolution and Expansion of France’s Banking Industry, C-Innovation, Sep 2023
Revolut, meanwhile, is one of the world’s top digital banks, clocking 35 million retail customers globally. The startup offers accounts featuring currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing “vaults”, stock trading, cryptocurrencies, commodities, and other services, and operates in more than 30 countries.
Digital-only banks market share in France, Source: Digital Drives the Evolution and Expansion of France’s Banking Industry, C-Innovation, Sep 2023
Traditional banks lead the market
One particular trait of the French digital banking landscape is the leadership position the traditional banking sector holds in the space.
In France, established financial institutions have not only recognized the need to adapt; they’ve also embraced change and injected fintech innovations into their array of services, the report notes. The outcome has been the emergence of hybrid banking services that combine the traditional banking’s bedrock qualities of trust and stability, with the agility and convenience ushered in by fintech innovation.
This trend is revealed by the prominence of bank-backed neobanking brands among France’s top digital banking players and underscores the adaptability and strategic foresight of France’s established financial institutions, the report says.
Banks have adopted various strategies in this regard, with some like Societe Generale pursuing acquisitions of digital banking businesses, while others such as BNP Paribas developed digital banking solutions in-house, it notes.
Number of customers by European digital banks associated with a traditional brand, Source: Digital Drives the Evolution and Expansion of France’s Banking Industry, C-Innovation, Sep 2023
Despite having witnessed a strong uptake in digital banking solutions these past years, France has one of the world’s lowest adoption of fintech solutions. A 2019 consumer survey conducted by EY found that fintech adoption in France stood at just a mere 35% then, far behind European leaders including the Netherlands (73%), Ireland (71%) and the UK (71%), and below the global average of 64%.
Consumer fintech adoption across 27 markets, Source: Global Fintech Adoption Index, EY, 2019

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/digital-banking-adoption-rises-x3-in-france</link><guid>3368</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Digital Banking Adoption Rises X3 in France</dc:text></item><item><title>Regulatory Clarity and Digital Innovation Enable Digital Bond Growth in Switzerland</title><description><![CDATA[
									
					
							
					The Distributed Ledger Technology (DLT) Act of Switzerland has placed the country among the global leaders in digital asset regulations and enabled the development of a rich and diverse ecosystem centered around DLT-based applications and systems.
The regulatory clarity provided by the legislation, coupled with the growth of the digital asset ecosystem, has supported the development of digital bonds, a new report by credit rating firm Moody’s says.
The document takes a look at Switzerland’s legal framework for digital assets, highlighting how the pioneering DLT Act is today one of the world’s most comprehensive laws on DLT and how the legislation has fostered the rise of the digital asset ecosystem and facilitated the issuance of digital bonds.




   



    
   


   








The DLT Act, which came into force in 2021, has formed an advanced legal framework that provides market participants with guidelines on token categories and stablecoins, securities definitions, and licensing procedures, the report says. The law has three main effects:

It introduces a new, ledger-based type of security that’s maintained on a blockchain-enabled registry;
It offers insolvency protection by clarifying the segregation of crypto-based assets and access to data and personal information in the event of bankruptcy; and
It establishes a license category for DLT trading systems, expanding the potential participant base in digital asset trading platforms to non-financial institutions and retail customers and allowing them to trade, custody, clear and settle digital assets on licensed platforms.

SIX Digital Exchange (SDX), an affiliate of Swiss stock exchange operator SIX Group, was the first entity to receive regulatory approval to offer issuance, listing, trading, settlement, servicing, and custody of digital securities in Switzerland.
Since receiving its licenses in September 2021, SDX has grown into one of the country’s leading platforms for regulated digital bonds, having facilitated the issuance of natively digital bonds for SIX Group, UBS and the City of Lugano.
These bonds used the SDX infrastructure, as well as the SIX Swiss Exchange’s traditional infrastructure, a dual listing that has allowed for maximum market outreach by enabling investors to invest and trade bonds through both SDX’s or SIX’s member banks, the Moody’s report says.
Digital bonds issued through SIX Digital Exchange, Source: Swiss digital bonds benefit from favorable existing and adapted federal laws, Moody’s, Aug 2023
Besides digital bonds, SDX is also involved in a wholesale CBDC (wCBDC) project with the Swiss National Bank, along with the Bank for International Settlements (BIS) Innovation Hub Swiss Centre, and multiple commercial banks, it notes.
According to Moody’s, wCBDC projects could promote the preservation of central bank money as the priority asset to pay and settle securities on blockchain infrastructures, innovate payment systems, and make interbank transfers more seamless, benefiting the digital bond market.
Blockchain-based digital bonds gain traction
Digital bonds are an emerging application of blockchain technology that have attracted the attention of countries and corporations.
These instruments, which are essentially debt securities, are issued and managed using DLT. By leveraging blockchain’s immutable, transparent, and decentralized nature, digital bonds offer increased efficiency, reduced costs and enhanced security.
Moreover, blockchain allows for fractionalization, making it possible for bonds to be split into smaller denominations. This makes these financial instruments more accessible to retail investors and increases thus accessibility.
In the region, the European Investment Bank (EIB) has been among the pioneering institutions in the field. In 2021, the bank announced that it had launched a digital bond issuance on the Ethereum blockchain, collaborating with major banks including Goldman Sachs, Banco Santander and Societe Generale.
This year, EIB launched several other instruments, introducing its first ever digital bond in pound sterling in January and premiering a digital green bond on so|bond, a blockchain-based digital bond platform launched by SEB and Credit Agricole, in June.
Most recently, ABN AMRO became the first Dutch bank to register a digital green bond on a public blockchain. The initiative saw Vesteda, a Dutch real estate investor, raise EUR 5 million from German financial firm DekaBank to finance green assets.
The landmark Markets in Crypto-Assets Regulation in the European Union (EU) was adopted in May this year. The legislation, which will take effect on December 30, 2024, will regulate the issuance and trading of crypto-assets including utility tokens, asset referenced tokens and so-called stablecoins, as well as the management of the underlying assets.
Industry experts and stakeholders estimate that DLT could unlock transformative cost-saving and operational efficiency benefits of approximately US$20 billion annually in global clearing and settlement costs. The technology could also fuel innovation-led growth, increase market access and enable new liquidity pools when operating at scale, allowing the market of tokenized illiquid assets to expand from just US$300 million today to US$16+ trillion by 2030.

Featured image credit: edited from Freepik


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	]]></description><link>https://fintechnews.eu/regulatory-clarity-and-digital-innovation-enable-digital-bond-growth-in-switzerland</link><guid>3366</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Regulatory Clarity and Digital Innovation Enable Digital Bond Growth in Switzerland</dc:text></item><item><title>Backbase Unveils Grand Central as a Game-Changer in Banking Integration</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 12, 2023
																				





					
					
							
					Engagement banking platform provider Backbase has launched Grand Central, its Integration Platform-as-a-Service (iPaaS) offering. This first-of-its-kind solution is intended to bolster banks in accelerating their digital transformation and modernization efforts.
According to Backbase, banks have been allocating vast resources and budgets to establish, maintain, and retire point-to-point integrations among a myriad of technologies, products, and solutions within their technical architecture. Traditional integration with core banking, CRM systems, and external fintechs often demanded hefty custom system integration investments. Such costs brought added intricacies and hampered the pace of digital transformation projects, shifting focus from delivering value to banking clients.
With its unique Integration Platform-as-a-Service, Grand Central furnishes unified APIs, designed to power bank channel applications and third-party developer endeavors. Harnessing the power of a BIAN-based domain model coupled with unified banking APIs, Grand Central will bridges channel applications to a plethora of downstream systems. This includes everything from core banking solutions and CRM systems to payment mechanisms, fintech systems, and beyond.




   



    
   


   








Utilizing industrial-grade plug-and-play connectors, Grand Central will enable banks to acclerate their market presence and considerably cut down budgetary strains associated with integration. Embracing Grand Central means banks can now synchronize data throughout their various tech stacks, promising uninterrupted digital customer journeys across web and mobile apps under the Backbase Engagement Banking Platform umbrella.
Jouk Pleiter
Jouk Pleiter, CEO at Backbase, stressed the critical importance of this solution, stating,

“Banks today are burdened with aging infrastructure and a very fragmented legacy IT landscape, that makes it difficult to keep pace with changing customer expectations. Our Integration Services team operates as an extension of a bank’s IT organization, simplifying and resolving integration challenges that have hindered many banks in executing their digital transformation strategy. With Grand Central our clients can leverage a BIAN-based, unified API infrastructure, giving instant access to leading financial services technology providers. By combining these powerful capabilities in a unified developer experience, banks can focus on rapid innovation while future-proofing their enterprise integration architecture.”

According to Backbase, Grand Central will bring a universal integration approach, acting as the pivotal link connecting disparate productized ISV solutions and technologies, thus ensuring fluid communication. It will also streamline technological stacks banks rely on, leading to cost savings and improved operational proficiency.
The banking platform provider also claims that as a first-of-its-kind platform that comes with pre-configured connectors and ready-made integration features, Grand Central will make the roll-out of new banking services much more streamlined, positioning banks a step ahead of competitors.
Backbase is also looking to reshape the banking sector further exemplified by their recent rollout of a significant $10 million investment fund. This fund is intended to speed up the connectivity of region-centric products, thus enabling banks globally to refine their operations, optimize expenses, and deliver unparalleled customer experiences.
With a reputation of rolling out complex projects for top-tier financial entities globally, Backbase’s new suite of services encompasses API design, solution structuring, DevOps and CI/CD advice, data transition services, and sustained interface oversight.

Featured image credit: edited from freepik


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	]]></description><link>https://fintechnews.eu/backbase-unveils-grand-central-as-a-game-changer-in-banking-integration</link><guid>3365</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Backbase-Launches-Grand-Central-Its-New-Gen-Integration-Solution-and-Dedicates-10-Million-Fund-to-Fuel-Innovation-1440x564_c.jpg?x22212</dc:content ><dc:text>Backbase Unveils Grand Central as a Game-Changer in Banking Integration</dc:text></item><item><title>The Swiss National Fintech Team 2023: 10 Swiss Fintech Startups to Watch in 2024</title><description><![CDATA[
									
						
																				
																			
												
															
									by Fintechnews Switzerland								
																						October 12, 2023
																				





					
					
							
					Venturelab introduce ten ambitious Swiss fintech startups ready to accelerate their growth on the international stage.
The ten members of the Swiss National Fintech Team will kick off their Venture Leaders experience in December with an investor and business development roadshow to London. They will also represent Swiss innovation at the Fintech Connect in London.
Venturelab has been organizing international roadshows for the Swiss National Startup Team for 18 years. These roadshows provide a platform for determined entrepreneurs and their promising startups, offering them the opportunity to connect with top experts, investors, and potential customers in key technology hubs across the globe, such as Silicon Valley, Boston, China, Barcelona, Munich, and London.




   



    
   


   








After reviewing over 60 applications, a jury of investors and technology experts selected ten fintech startups to join the Venture Leaders Fintech 2023 roadshow in London. The roadshow will take the Swiss National Fintech Team to London for investor pitch sessions, and customer meetings and the entrepreneurs will also participate at the Fintech Connect conference to meet banking leaders and expand their network. The roadshow is organized in partnership with Swissnex, and supported by EPFL (École Polytechnique Fédérale de Lausanne), ETH Zürich, Postfinance, and Walder Wyss.
This year’s Venture Leaders Fintech entrepreneurs join an impressive group of Fintech alumni including high-flying startups such as Crypto Finance (acquired by Deutsche Börse), eCollect (acquired by Intrum), Imburse (acquired by Duck Creek Technologies), Qumram (acquired by Dynatrace), Lend, Sonect, TP24, Wyden, and many more.
This year’s Venture Leaders Fintech will introduce themselves and their startups at a virtual kickoff session on November 2, 2023. This event will be open to the public and will provide a showcase for the ten game-changing innovations that the 2023 Swiss National Startup Team will be presenting in London.


Aisot Technologies | Stefan Klauser  | Zurich

Aisot Technologies AG, a spin-off from ETH Zurich, enables personalized investing at scale. Leveraging advanced AI technology and bespoke financial products, aisot’s AI Insights Platform automatically adjusts customized investment strategies to rapidly changing markets.
Delega | Riccardo Balsamo | Zug

Delega is a cloud-based/SaaS fintech whose mission is to fully digitize bank signatories for mid &amp; large-sized corporations. Using Delega, companies are able to create efficiencies, reduce their risk and free up from the hassle of dealing with multiple banks.
Divizend Suisse | Thomas Rappold | Thurgau

Investors worldwide miss out on maximizing their dividend returns by not filing withholding tax reclaims. Divizend Suisse offers the leading platform that helps private and institutional investors to reclaim their foreign withholding tax in the most digital, automated, and price-competitive way.
GenTwo | Philippe Naegeli | Zurich

Founded in 2018, GenTwo is a Swiss-based B2B fintech company that operates globally with the mission to expand the investment universe by making all assets investable. Its proprietary platform solution GenTwo PRO empowers investment professionals to create unlimited, white-labeled investment solutions.
GOWAGO | Rutger Verhoef | Zurich

Gowago is an automotive fintech that provides an intuitive platform that simplifies vehicle selection, financing, and management. But it’s more than about cars; it’s about creating a future where mobility is both sustainable and efficient.
Instimatch Global | Adrian Edelmann | Zurich

Instimatch Global AG offers a web-based cash management trading platform for institutions across industries and geographies, enabling them to directly engage with each other, digitally execute all their liquidity needs, and leverage their trading network.
Properti | Levent Künzi | Zurich

Properti represents a paradigm shift in the realm of real estate transactions with a blend of expert knowledge and advanced technology. Our proprietary platform empowers clients, agents and service partners with unparalleled performance potential.
THORWallet | Marcel Harmann | Schwyz

THORWallet is a rapidly growing iOS, Android, and web-based DeFi app that offers built-in financial services such as trading, savings accounts, lending, and borrowing based on true cross-chain decentralized finance. At the same time, THORWallet also integrates Swiss crypto banking and VISA card services, making it a complete crypto neo-banking experience.
TRESIO | Tobias Angehrn | Zurich

Tresio is revolutionizing the way small and medium-sized enterprises manage their finances by serving as the world’s first smart CoPilot for CFOs. Its cloud-based platform offers a 360-degree financial view, enabling businesses to make agile, informed decisions like never before.
Yourasset | Stephan Kolz | Zurich

Yourasset AG is a Swiss technology company that provides digital platforms and monthly (financing) payment solutions designed for the luxury watch industry. Our mission is to enhance how people manage, engage with, and purchase their luxury goods.
Follow the entrepreneurs and the Venture Leaders Fintech roadshow on social media using the hashtag #VLeadersFintech or on www.venture-leaders.ch/fintech.




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	]]></description><link>https://fintechnews.eu/the-swiss-national-fintech-team-2023-10-swiss-fintech-startups-to-watch-in-2024</link><guid>3364</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Venturelab-Announces-Swiss-National-Fintech-Team-2023-Ten-Startups-Set-for-London-Roadshow-1440x564_c.jpg?x22212</dc:content ><dc:text>The Swiss National Fintech Team 2023: 10 Swiss Fintech Startups to Watch in 2024</dc:text></item><item><title>Why Swiss Fintechs Should Attend 2023’s Hong Kong Fintech Week and Singapore Fintech Festival</title><description><![CDATA[As we head towards the end of the year, fintech innovators, experts and decision-makers are gearing up for the world’s largest fintech conferences. These large-scale events, which include the annual Hong Kong Fintech Week and the Singapore Fintech Festival (SFF), are treasure troves of knowledge and allow industry stakeholders to not only keep up with the latest innovations but also build meaningful business connections and engage with a massive audience of potential customers.
Each year, these two multi-day events bring together tens of thousands of participants to discuss the sector’s most pressing challenges and biggest opportunities, showcase the latest technologies, and explore what’s next in fintech.
Skill development is another facet that these events cater to. Through workshops, panel discussions, and breakout sessions, professionals are able to delve deep into specific fintech areas, refining their skills and gaining expertise in niche domains.




   



    
   


   








By attracting influential figures from the fintech ecosystem, including policymakers and industry pioneers, fintech leaders and professionals also get to gain unique insights and perspectives, providing them with an edge in their strategic planning.
But beyond the learning aspect, these events are also designed to facilitate the building of business relationships. Acting as hubs for networking, they often lead to potential partnerships, collaborations, and even client acquisitions.
With the 2023 Hong Kong Fintech Week and SFF just around the corner, we look today at the key highlights of this year’s events, focusing on their main themes, what participants can expect, and why these events are critical to attend for fintech companies aiming to thrive in the industry.
2023 Hong Kong Fintech Week: What to expect


The annual Hong Kong Fintech Week, taking place this year from October 30, 2023 to November 05, 2023, is a cross-boundary fintech event held in Hong Kong, one of the Asia’s biggest financial hubs, and Shenzhen. It’s one of the largest fintech conferences on the calendar, bringing together key industry stakeholders, experts as well as the sector’s most innovative entrepreneurs.
Like previous editions, this year’s Hong Kong Fintech Week is set to be a focal point for the global fintech community to convene and is poised to be a melting pot of pioneering ideas, stratagems, and breakthroughs.
The 2023 edition, which will be held in a hybrid format, will offer businesses a golden opportunity to spotlight their products and solutions to an audience of over 30,000 attendees from more than 95 economies, including global and regional media. This makes the 2023 Hong Kong Fintech Week a strategic avenue for organizations to amplify brand recognition and foster connections with potential clientele and investors.
In addition to its massive reach, those attending the week-long event will get a comprehensive experience encompassing panel discussions and keynotes tackling current trends, hurdles, as well as the envisioned trajectory of finance and technology; workshops focusing on niche areas within fintech to equip participants with updated insights and methodologies; networking sessions to foster collaborations and partnerships; and business matchmaking sessions.
The 2023 Hong Kong Fintech Week will also feature exhibitions, showcasing more than 700 budding startups and tech leaders to deliver a comprehensive view of what’s next in fintech. Over 500 of the world’s top speakers including fintech founders, investors, regulators, and academics, will be taking the stage, and more than 350 regional and international media are expected to join this year’s edition.
Get 15% off with promo code: FTNN-DISCOUNT
SFF 2023: Focus on AI

SFF 2023, taking place from November 15 to 17, 2023, promises to be an epicenter of discussion, innovation, and future-forward thinking in the world of financial technology.
This year’s event will put an emphasis on the rising adoption and growth of artificial intelligence (AI) and explore the myriad of ways in which AI can revolutionize financial services. More than just a theoretical examination, SFF 2023 intends to provide pragmatic insights into how contemporary technologies can be harnessed to tackle some of the most pressing challenges.
In particular, the event will focus on three main themes:

The potential of technology to fast-track the transition to a low-carbon future;
Rethinking the architecture of the financial systems to ensure they cater to the underserved; and
The use of technology to secure the digital economy against modern climate, technology and cyber risks.

Since its initiation in 2016, SFF has rapidly grown to become one of the world’s biggest platforms for global conversations on the confluence of technology, financial services, and public policy.
Over its tenure, the event has been graced by luminaries from diverse sectors, including philanthropy, finance, technology, and governance, featuring names such as Bill Gates, Satya Nadella, Sundar Pichai, Christine Lagarde, and Indian Prime Minister Narendra Modi.
In addition to its high-profile speakers, SFF’s allure lies in its wide-ranging opportunities for engagement. Participants attending the event get to:

Forge connections during the Industry Networking Party at Club Street and the Daily Networking Happy Hour;
Dive into focused discussions with the 1:1 Meetings, Business Matching sessions, or the dedicated office hours with regulators, mentors, and investors;
Explore investment avenues with over 470 promising startups;
Understand the latest in fintech from more than 500 exhibitors representing 134 countries; and
Gain deep insights from 850+ speakers spread across multiple stages tailored for diverse interests including policy, tech, regulation and environment, social, and governance (ESG) topics.

Demonstrating the event’s expansive reach and reflective of its success, the 2022 edition of SFF saw a congregation of over 62,000 participants from more than 115 countries. More than 10,000 organizations participated, content spanned more than 250 hours, and media mentions exceeded 10,000, showcasing the global attention the event garnered.
SFF not only provides businesses a platform to learn and keep up with the most cutting-edge technologies in the fintech space, it also offers professionals an opportunity to engage, network and be at the forefront of the future of finance and technology.
Fintech News readers will enjoy a 20% discount off the ticket prices. Click here to purchase the tickets.
]]></description><link>https://fintechnews.eu/why-swiss-fintechs-should-attend-2023s-hong-kong-fintech-week-and-singapore-fintech-festival</link><guid>3363</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>Why Swiss Fintechs Should Attend 2023’s Hong Kong Fintech Week and Singapore Fintech Festival</dc:text></item><item><title>German Wealthtech Upvest Partners with BlackRock and Closes €30M Fundraising</title><description><![CDATA[Upvest, a Berlin-based fintech company providing the trading, settlement and custody infrastructure necessary for digital wealth management in one application programming interface (API), is partnering with BlackRock to make investing more accessible.
‍Partnership to complement strengths
BlackRock’s broad asset management expertise and leadership in ETFs combined with Upvest’s efficient investment API can power investment offerings for millions of investors. Wealth managers, banks and fintechs can build modern investment experiences in months instead of years, relying on Upvest’s efficient, low-friction API based infrastructure offering. Upvest’s offering will remain an open architecture.
As part of the partnership, BlackRock participated in Upvest’s €30m 2023 funding round alongside Upvest’s existing investors Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital.




   



    
   


   








‍Retail investment revolution in Europe
Millions of Europeans have embraced investing over the past years with many more expected to participate in financial markets in the years ahead. New propositions have emerged allowing low-cost, low-friction access for a new generation of first-time investors. ETFs are often at the heart of these new investors’ portfolios, offering transparency and cost efficiency. ETF savings plans (automated monthly investment plans) have fuelled a big part of this growth and are expected to grow in number from 4.9 million in 2021 to roughly 20 million by 2026 across Europe.
‍The importance of efficient infrastructure
These new investment propositions, with many powered by Upvest, can benefit from efficient, low-friction infrastructure to reduce transaction costs and allow access from small investment amounts, enabled by innovations such as fractional dealing of ETFs and stocks. Both fintechs, such as neo brokers and neo banks, and established banks and brokers can benefit from these capabilities to power their offerings.
‍Upvest is a leader in this space, having won some of Europe’s largest fintechs as clients. Upvest’s API-based investment infrastructure enables real, physical fractional investing across ETFs, stocks and mutual funds, lowering the entry barriers for investments to as little as €1 in any asset class. The growth of ETF portfolio adoption in retail can also be supported by Upvest’s capabilities with the help of its in-house portfolio engine and re-balancing. The new wave of investors may evolve from single product investments to broader portfolio adoption as education and investor objectives evolve. Upvest collaborates with distributors looking to evolve their digital investment infrastructure to reduce cost and complexity or expand geographically.
‍Timo Toenges
‍Timo Toenges, Head of iShares EMEA Digital Wealth business at BlackRock, comments:
“Millions of Europeans are embracing investing for the first time to build a better financial future for themselves. BlackRock’s partnership with Upvest will drive innovation in how Europeans access markets and make it cheaper and simpler to start investing. Across Europe ETFs are at the core of these new propositions and often the default choice for investors, as a transparent, low cost and easily understood starting point for a new generation of investors.”
‍Martin Kassing
‍Martin Kassing, Co-founder and CEO at Upvest, adds:
“One of the world’s leading providers of investments meets leading European investment infrastructure. We are incredibly proud of this partnership as a way to increase investment adoption for millions of people. With only a fraction of the European population investing in stocks and ETFs, we feel the urge to provide a better investment infrastructure to companies facilitating easy and affordable investment experiences. Together with BlackRock’s investment expertise, we can now serve any financial institution to upgrade their investment offering.”
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]]></description><link>https://fintechnews.eu/german-wealthtech-upvest-partners-with-blackrock-and-closes-30m-fundraising</link><guid>3362</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>German Wealthtech Upvest Partners with BlackRock and Closes €30M Fundraising</dc:text></item><item><title>Sergey Kondratenko: Cybersecurity in the Fintech Industry – Modern Threats and Protective Measures</title><description><![CDATA[The fintech industry continues to innovate and break the stereotypes of traditional financial services. Therefore, the issue of the need for cybersecurity has never been as acute as it is now, Sergey Kondratenko notes. In addition, fintech firms manage sensitive customer data and financial activities, making them attractive targets for scammers. What are the current trends and problems of cybersecurity in the fintech industry, how to protect customer data in modern conditions and maintain their trust in the digital financial ecosystem?
Sergey Kondratenko is a recognized specialist in a wide range of e-commerce services with experience for many years. Now, Sergey is the owner and leader of a group of companies engaged not only in different segments of e-commerce, but also successfully operating in different jurisdictions, represented on all continents of the world. The main goal is to drive new traffic, create and deliver an online experience that will endear users to the brand, and turn visitors into customers while maximizing overall profitability of the online business.
Overview of the current situation with cybersecurity in the fintech sector – Sergey Kondratenko
The current 2023 is already presenting its own cybersecurity challenges for fintech companies. Cybercrime is growing exponentially and digital transformation is a major security concern for businesses around the world.
Sergey Kondratenko talks about the reason why ransomware has stood the test of time: they exploit the biggest flaw in every human being – the ability to make mistakes. It only takes one accidental click on the wrong link or connection to unsecured Wi-Fi, and the entire system can be attacked in a matter of seconds. EU Cybersecurity Agency Annual Report Enisa Threat Landscape Report showed that ransomware and accessibility attacks ranked first during the reporting period, with phishing (Internet fraud) being the most common initial access vector.
In a different report it says that 55% of financial institutions have been hit by ransomware in the past year, up 62% from the previous year. Financial organizations have received some of the lowest payouts from insurance companies after violations, so now it is really very important to create a good system to counter cyber attacks.
Sergey Kondratenko on modern cyber threats in the fintech sector and ways to overcome them
The development of fintech has changed the way we interact with financial services, providing convenience and accessibility. However, the digital revolution is giving rise to new threats to cybersecurity. Customer personal information, financial records and transaction details are stored by fintech organizations in huge volumes. Therefore, due to their high value, these assets are attractive targets for cybercriminals. Given these trends, according to Sergey Kondratenko it is essential to be aware of cybersecurity risks in order to understand how to make it less vulnerable to planned cyberattacks.
Modern cyber threats and ways to solve problems:

Problems of cloud computing. Most online financial services, including payment gateways, internet banking, digital wallets, and form filling, are provided through a cloud computing system. It provides advantages such as scalability, speed and availability, the volume of incoming data makes them vulnerable to cyber attacks. Therefore, it is very important to choose a reliable and secure cloud service provider who can customize the cloud according to the needs of the client.
Malicious attacks. The most common type of cyber attacks are malware. They can infiltrate through various channels, including email, third-party software, suspicious websites, and pop-ups. This is especially dangerous because of the high transmission and propagation speeds that can bring down entire networks.

I draw attention to the fact that in order to protect against cyber attacks on software, it is very important to choose cybersecurity infrastructure providers with regularly updated software that can quickly detect malware, – emphasizes Sergey Kondratenko.

Third party access. Financial institutions often use third-party services and software for various applications. Since these programs are connected to the main systems of organizations, they serve as entry points for hackers posing as authorized employees or customers of a third party. In this case, being careful when choosing a reliable third-party solution will help overcome cybersecurity issues.
System complexity and compatibility. Large financial institutions sometimes have several branches and headquarters around the world, each equipped with infrastructure from different vendors and developers. These systems are connected to each other, but they may not be compatible or create complex relationships that will leave gaps in the network. These weaknesses serve as the starting point for cyberattacks.
Identity theft and authentication. Financial institutions often use methods such as one-time payments, biometrics, passwords and other types of authentication to ensure security and verify identity. These methods have the disadvantage that they can often be copied, which opens up the possibility for hackers to steal significant amounts of money. Financial institutions must apply various verification gateways to prevent intrusion.
Digital online platform. Most fintech organizations are now using internet platforms. This indicates that the PCs and mobile devices through which users access their accounts are vulnerable to hacking.

Customers have to make many transactions using phones, tablets, computers and other devices. When using them for financial transactions, it is recommended to install anti-virus software with real-time detection and secure browsing,
Sergey Kondratenko explains.
The introduction of artificial intelligence in the cybersecurity of fintech companies
Many companies looking to digitally transform their operations will need to be well protected when it comes to cybersecurity. This means that now more than ever it’s important to build an IT team that knows a reliable way to do it.
One such security measure could be the zero trust model, which has become a popular alternative to password protection. In the latest Verizon Data Breach Report it says that 80% of data breaches are due to bad or reused passwords. In the zero trust model, users are considered as potential subjects of threats and must confirm their right to access data every time,
informs Sergey Kondratenko.
According to study published by Teramind in 2021, organizations with an advanced zero trust system saved 43% on data breach costs. It’s also the easiest and most effective way to keep remote workers safe. Zero trust can take many forms, including multi-factor authentication, continuous verification, smart monitoring, least privilege, and micro-segmentation.
In addition to intelligent monitoring, there are many other ways to implement AI for data security.
Sergey Kondratenko notes that AI is trained to perform cognitive functions, such as tracking suspicious activity in the systems of financial institutions. For example, when an employee tries to view files they don’t normally view, or a credit card used outside of the customer’s daily routine. Anything out of the norm will be flagged so that intervention can be made.
That’s all a human can do, but the scale needed to deliver this service 24/7 around the world would be next to impossible without AI. It can be left running indefinitely to constantly monitor for suspicious behavior.According to Teramind research, organizations using AI and security automation were able to detect and contain data breaches 27% faster than others.
Overcoming FinTech Cyber ​​Threats Through Control and Regulation – Sergey Kondratenko
One important solution to cyber threats in fintech is partnering with reputable cybersecurity firms that specialize in fintech.
These firms have the experience and expertise to help fintech companies navigate a complex regulatory environment and implement effective cybersecurity measures,
explains Sergey Kondratenko.
Another solution, according to the expert, is a proactive approach to cybersecurity. That is, fintech firms can implement measures such as regular employee training, strong passwords, and encryption to reduce the risk of cyberattacks. By taking these steps, companies can improve their cybersecurity posture and reduce exposure to risk.
Thus, in order to keep pace with the high pace of technological innovation in the financial industry, the fintech cybersecurity regulatory framework is expanding rapidly. Although the legislation governing this direction is very different around the world. Authorities are increasingly focusing on ensuring that financial institutions put in place adequate safeguards against cyberattacks.
Sergey Kondratenko is convinced that financial institutions should keep abreast of developments in Fintech cybersecurity trends and issues and implement appropriate controls to mitigate risks already now for those who have not already done so. Indeed, failure to comply with this requirement can lead to significant financial losses.
]]></description><link>https://fintechnews.eu/sergey-kondratenko-cybersecurity-in-the-fintech-industry-modern-threats-and-protective-measures</link><guid>3361</guid><author>Administrator</author><dc:content /><dc:text>Sergey Kondratenko: Cybersecurity in the Fintech Industry – Modern Threats and Protective Measures</dc:text></item><item><title>Kapitalerhöhung bei RealUnit: 2,26 Mio CHF frisches Kapital</title><description><![CDATA[Während der Kapitalerhöhungsrunde im September 2023 wurden 1’712’955 Inhaberaktien und 462’700 tokenisierte Namenaktien im Nennwert von je CHF 1.00 bei einem Ausgabebetrag von je CHF 1.04 im Gesamtwert von insgesamt CHF 2’262’681.20 gezeichnet und voll liberiert.
Das Aktienkapital der RealUnit Schweiz AG konnte von bisher CHF 30’918’321 auf neu CHF 33’093’976 erhöht werden. Dies entspricht einer Steigerung um 7%. Die neuen Inhaberaktien werden als Bucheffekten ausgestaltet und voraussichtlich am 10. Oktober 2023 an der BX Swiss AG kotiert. Die neuen Namenaktien werden als Registerwertrechte ausgestaltet und voraussichtlich gleichentags an die Wallets der Zeichner transferiert.
Ergebnisse Bezugsrechte und Erweiterung Aktionariat
Drei bisherige Namen- oder Inhaberaktien berechtigten zum Bezug einer neuen Inhaber- oder Namenaktie. Bisherige Aktionäre haben innert der vorgesehenen Bezugsfrist insgesamt 282’640 neue Aktien gezeichnet. Die nicht ausgeübten Bezugsrechte wurden bestehenden Aktionären und Dritten zur freien Zeichnung angeboten. Insgesamt wurden 1’893’015 Aktien frei gezeichnet. Es waren somit keine Kürzungen bei der Zuteilung erforderlich. Das Aktionariat hat sich weiter verbreitert. Der Anteil des Ankeraktionärs und Mitgründers der Gesellschaft hat sich auf 22% reduziert.




   



    
   


   








Dani Stüssi
«Wir haben bereits die zweite Kapitalerhöhung in diesem Jahr durchgeführt und sind mit dem Ergebnis in einem anspruchsvollen Marktumfeld zufrieden. Besonders die grosse Nachfrage nach unserem Aktientoken hat mich sehr gefreut.»
sagt Dani Stüssi, CEO der RealUnit Schweiz AG.

Steigende Nachfrage nach Aktientoken
21.3% der Investoren:Innen, welche an der ordentlichen Kapitalerhöhung teilgenommen haben, entschieden sich für die tokenisierten Namenaktien auf der Blockchain. Bereits im Mai 2023 wurden im Rahmen einer genehmigten Kapitalerhöhung insgesamt 1’683’551 neue Namenaktien gezeichnet. Der Anteil der Aktientoken ist erstmals auf über 10% des gesamten Aktienkapitals gestiegen.
]]></description><link>https://fintechnews.eu/kapitalerhohung-bei-realunit-226-mio-chf-frisches-kapital</link><guid>3360</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>Kapitalerhöhung bei RealUnit: 2,26 Mio CHF frisches Kapital</dc:text></item><item><title>Top 28 Upcoming Fintech Events Taking Place in Europe in Q4 2023</title><description><![CDATA[Europe has rapidly evolved into a powerhouse of fintech innovation and growth, driven by regulatory support, consumer demand, and technological advancements.
In recent years, key European cities including London, Berlin and Stockholm have emerged as global fintech hubs, drawing billions in investments. At the same time, regulatory changes including the introduction of the Revised Payment Services Directive (PSD2) have further catalyzed the sector’s growth and paved the way for the emergence of open banking.
As Europe continues to maintain its position as one of the most prominent fintech ecosystems in the world, organizers are setting up a plethora of events across the region to help industry stakeholders keep up with the latest developments, network and connect with their peers.




   



    
   


   








Today, we look at the top upcoming fintech events taking place across the region in the coming months. For this list, we’ve focused on large-scale gatherings scheduled for Q4 2023.
Backbase Engage
October 11, 2023
De Hallen Studios, Amsterdam, The Netherland

At Backbase ENGAGE, the annual conference aims to inspire banks to make the Big Shift from Traditional to Engagement Banking. Through omnichannel engagement orchestration and progressive modernization, you’ll discover how to re-architect your systems around your customers, putting them at the heart of everything you do.
Register here
Chatbot Summit
October 11 – 12, 2023
Excel, London, UK


The Chatbot Summit, scheduled for October 11 and 12, 2023, at Excel in London, is projected to welcome around 1,500 decision-makers and frontrunners in generative and conversational artificial intelligence (AI).
A broad array of experts from prominent companies like Amazon, Google, Microsoft, Meta, HuggingFace, Rasa, British Telecom, Deutsche Telekom, Khan Academy, Miele, HomeDepot, and others, will share their insights on recent innovations in the field.
The conference will delve deep into various themes, including the open innovation frameworks for large language models, the transformation of contact centers through generative AI, scaling top-tier bots in sectors such as telecom, retail, and banking, and harnessing generative AI to enrich data insights for an enhanced customer experience, among others.
Participants will get to engage in world-renowned generative and conversational AI masterclasses and workshops, participate in roundtables, attend enlightening keynotes and panels, and connect with their peers in networking sessions.
The 2nd Financial Innovation Forum
October 12, 2023
Renaissance Hotel St Pancras, London, UK


On October 12, 2023, the Renaissance Hotel St Pancras in London will play host to the 2nd Financial Innovation Forum. This event, organized by QUBE Events, aims to offer a platform for international industry experts to come together and deliberate on the latest developments, trends, and best practices in the rapidly evolving world of financial technology and innovation.
Attendees will dive deep into the most recent trends and practices that are revolutionizing the finance world, get a chance to gain insights into what the future might hold for the realm of finance, and engage in debates covering a broad spectrum of topics like blockchain, cryptocurrencies, and regulatory matters.
Over 40 industry leaders are expected to lend their expertise during the forum, discussing both prevailing and emergent trends in finance. Some of the topics that attendees can look forward to include strategies in the financial sector, acceleration techniques, data-driven innovation, regulation, cybersecurity, market growth, customer loyalty, future prospects, and much more. More than 400 industry leaders, which includes more than 40 keynote speakers representing over 100 companies, are set to participate.
Announced distinguished speakers include:

Fabrizio Ballarini, Head of Organic Growth at Wise
Sasja Beslik, Senior Advisor, Data Analytics at Rimm Sustainability
Marcello Calabro, Group Chief Marketing Officer at UniCredit
Maria Costa, Head of Sustainability – Wealth Management and Insurance at Santander UK
Parvinder Dahri-Cooper, Chief Operating Officer at Uber

Topics covered will include:

Generative AI’s role in reshaping finance
Core principles of employing generative AI in banking
AI/ML and customer experience
AI’s role in countering financial crime in the future
Marketing trends for financial services for 2023-24
Financial inclusion’s objectives and obstacles
The nexus between finance and sustainability in recommerce
Evolution of mobile commerce in the payment industry
The future trajectory of payment data

FML Presents: Building Community for High Growth Fintechs
October 12, 2023
Fora Southwark, London, UK


FML Presents: Building Community for High Growth Fintechs, scheduled on October 12, 2023, aims to shine a light on how technology and evolving consumer behavior have allowed marketers to cultivate potent relationships within these communities.
The event will dive deep into the nuances of community-building strategies that are game-changers in the fintech domain and help participants understand the value and impact of fostering a dynamic and engaged community.
Attendees will also get to participate in engaging discussions and network with peers and professionals who share their passion for fintech and community-building.
Speakers line-up:

Jo Burford, Head of Community at TikTok UK
Henry Barton, Head of Community and Brand at Uncapped
Oscar Mackenzie, Head of Marketing at Share
Gemma Livermore, Head of Intl FS Marketing at Seismic and Founder of Women In Fintech
Max Rothery, VP Community at Finimize
Julia Lucas, Head Of Influencer Marketing and Creative Strategy at Growth Gorilla

Bitcoin Amsterdam 2023
October 12 – 13, 2023
Westergas, Amsterdam, The Netherlands


Scheduled for October 12 and 13, Bitcoin Amsterdam 2023 will shine a spotlight on the revolutionary world of Bitcoin.
The event promises a blend of enlightening talks, interactive panels, and state-of-the-art exhibitions. Attendees will have the golden opportunity to engage in stimulating dialogues, network with luminaries from the sector, and get unparalleled insights into the ceaselessly evolving crypto milieu.
Bitcoin Amsterdam 2023 will feature multiple stages with content including workshops and keynote addresses, focused on education and celebration of the sound money revolution.
Crypto Assets Conference
October 17 – 18, 2023
Frankfurt School of Finance and Management, Frankfurt, Germany


The Crypto Assets Conference (CAC23B), taking place on October 17 and 18, 2023, is a two-day conference that will explore rapidly evolving landscape of digital currencies, blockchain, and decentralized finance.
The conference will kick off with a focus on digital securities, tokenization of assets, digital funds, infrastructure, digital finance, and more. On the second day, discussions will pivot towards Bitcoin, decentralized finance (DeFi), Web3, carbon tokenization, environmental, social and governance (ESG) standards, and other critical topics.
CAC23B is expected to be attended by more than 500 people and is poised to be a melting pot of knowledge, insights, and visionary ideas. Participants will get to engage and collaborate with a diverse audience comprising sector specialists, corporate stalwarts, and innovative entrepreneurs, glean insights from industry thought leaders through their talks, debates, and presentations, and stay updated on the latest trends, innovations, and disruptions in the digital currency, blockchain, and DeFi space.
The Frankfurt School Blockchain Center will be curating and hosting all presentations, keynotes, and panel discussions on its dedicated YouTube channel, making the content accessible to a global audience.
Seamless Europe 2023
October 18 – 19, 2023
Messe Berlin, Germany


Taking place at the Messe Berlin on October 18 and. 19, 2023, Seamless Europe 2023 promises an illuminating journey through the dynamic landscapes of payments, fintech, retail, and e-commerce, and aims to bring together key industry stakeholders to pave the way for the next revolutionary concept.
Seamless Europe 2023 is set to bring together 5,500+ attendees, 400+ renowned speakers, and 350+ prominent brands to discuss the industry’s progress and trajectory.
As industry leaders and experts take the stage, attendees will get a treasure trove of insights that delve into Europe’s evolving payments and fintech sphere. Attendees will also get to engage with incisive interviews and capture the perspectives of industry leaders on the future of Europe’s fintech and payments sector.
Confirmed speakers for this year’s event include:

Ulrich Bindseil, Director General, European Central Bank
Tamaz Georgadze, Founder and CEO, Raisin Bank
Klara Lise Aasen, CEO, Bank Norwegian
Sanela Pasic, CEO, Addiko Bank
Jeremy Balkin, Global Head of Innovation and Corporate Development, JP Morgan
Karyna Hutarovich, Vice President, Deutsche Bank
Andrés Quiles Ruiz, Digital Offer &amp; Business Innovation Director, ABANCA
Deyana Cherneva, COO, Corporate And Investment Banking, HSBC
Lukas Enzersdorfer-Konrad, Deputy CEO, Bitpanda
Craig Morrow, Head of Data and Analytics, Atom Bank
Marika Lõhmus, Head of Payments and Fraud, Clea
Maximilian Maischein, Senior Expert in Digital Currencies, DZ BANK AG
Vasily Starostenko, Head of Product, Revolut
Malin Lignell, VP of Digitalization, Handelsbanken
Aleksi Grym, Head of Fintech and Principal Adviser, Bank of Finland
Andreea Niculea, Chief Digital Business Officer, Banca March

Open Banking Expo 2023
October 18 – 19, 2023
Business Design Centre, London, UK


Open Banking Expo 2023, scheduled for October 18 and 19, is poised to become the defining congregation for all enthusiasts, professionals, and stakeholders immersed in the world of open banking, open finance, open data, and open banking payments.
Over two days, the expo will break traditional silos, ushering in a holistic approach to the financial realm. It will bridge the financial ecosystem with various other sectors like retail, utilities, telecoms, gaming, transport, and leisure, underscoring the interdisciplinary and expansive reach of open banking concepts.
Participants will get to gain insights from over 150 distinguished speakers, attend more than 60 in-depth sessions, and interaction with 40+ industry partners.
The event promises to be a veritable feast for the intellect, featuring an array of speakers representing giants such as American Express, Google, Barclays, Deutsche Bank, Goldman Sachs, JP Morgan, and more.
Topics covered will include the future of payments, the implications of open data, insights into retail banking and addressing customer vulnerabilities.
Tech in Finance
October 19, 2023
Casa Diocesana de Malaga, Malaga, Spain


Originating in 2019, the Tech in Finance conference stemmed from a vision to curate an exclusive arena where developers from the finance realm could come together, share insights, and enrich their understanding.
This year, the conference will escalate its offerings, moving beyond mere discussions to a more tactile experience. Emphasizing technical demonstrations, the event strives to offer attendees a hands-on exploration of the latest breakthroughs and practical tech applications in finance.
The 2023 edition, which will take place on October 19, is set to delve into three pivotal domains that stand at the cusp of revolutionizing the finance sector: the intricacies of AI, the expansive potential of financial services at scale, and the burgeoning world of cryptocurrencies and central bank digital currencies (CBDCs). Enriching these themes will be panel discussions, giving a more granular perspective on the technological and engineering marvels propelling these topics.
Confirmed speakers for the event include:

Jim Anning, Chief Data Officer of Comply Advantage
Juan Carlos Botran, Global Head of GKC and API Acceleration at Swift
David Moreno, Business Development Director at Swift
Victor Tuson, CTPO at BitPanda
Rubén Fernández, CTO at Criptan
Jorge Soriano, CEO and Co-Founder at Criptan
Viktoria Ivan, Senior Data Scientist at Ebury

MoneyLIVE Nordic Banking
October 23 – 24, 2023
Copenhagen, Denmark


MoneyLIVE Nordic Banking, scheduled for October 23 and 24, 2023, is poised to stand as the nexus of groundbreaking insights and pioneering visions, with a singular aim: catapulting innovation to realms previously uncharted.
The two-day event promises to be the crucible where the luminaries of the Nordic and Baltic regions converge. These thought leaders will be both the torchbearers of change and its most passionate advocates, ensuring that the seeds of transformation planted here burgeon into the gold standards of tomorrow’s financial realm.
The 2023 edition of MoneyLIVE Nordic Banking will delve into themes including:

Navigating an increasingly uncertain geo-political and economic landscape;
Glimpses into the ever-evolving global economic forecast;
Envisaging the partnerships of the future with fintech as the lynchpin;
Adapting to a paradigm where interest rates are reborn;
Architecting the next generation of payment infrastructures and innovations;
Embracing the vision of customer-centricity, from holistic user experiences to innovations like gamification and generative AI; and
Delving into groundbreaking domains like the creator economy, quantum computing, non-fungible tokens (NFTs), and embedded finance.

European Blockchain Convention
October 25 – 26, 2023
Fira Barcelona Montjuic, Barcelona, Spain


The European Blockchain Convention (EBC) will take place on October 25 and 26, 2023, promising to be a spectacle of unparalleled magnitude in the blockchain cosmos. This year’s event is expected to be attended by 5,000 people and feature 300 distinguished speakers and a tapestry of events and showcases.
EBC 2023 will comprise three stages, a sprawling 3,000 sqm exhibition area, and a plethora of side events ranging from thematic sessions, networking lounges, an exclusive investor meetup and an NFT art gallery. The event will also feature Startup Battle, where 50 of Europe’s most promising blockchain startups will be presenting their groundbreaking ideas to a rapt audience, as well as a 48-hour Hackathon.
Leaders from giants like Nansen, Fidelity, Banco Santander, BBVA, Coinbase, Binance, and Galaxy Digital, among many others, will grace the stages. Their discussions will span a spectrum of themes— from regulatory landscapes, Central Bank Digital Currencies, the metamorphosis of crypto, the surge of AI, to the nuances of sustainability and tokenization.
The 16th NextGen Payments and Regtech Forum
November 02 – 03, 2023
Four Seasons Hotel, Limassol, Cyprus

The 16th NextGen Payments and Regtech Forum, taking place on November 02 and 03, 2023, will bring together international experts in the payments and regulatory fields. The forum aims to discuss advancements in technology, evolving regulatory frameworks, and the challenges and opportunities in a disruptive economy.
Key discussions will revolve around the evolving landscape of payments technology, with special emphasis on topics like the future of money, payments in the metaverse, embedded finance, buy now pay later (BNPL), DeFi, crypto payments, AI’s role in finance, blockchain’s potential, and biometric payments.
Additionally, dedicated segments will shed light on the pressing issues of consumer data protection, the overarching potential of AI, and the pivotal role of cybersecurity in risk and fraud management.
The forum will also address the advancements in regtech and compliance, offering insights into the automation of compliance management, the new wave of financial crime compliance technologies, and strategies to bolster transparency and cost-efficiency.
The event will comprise interactive panels, sessions led by disruptive challengers in the industry, and presentations by over 40 keynote speakers. Attendees will benefit from 1.000 minutes of content explicitly crafted for senior executives and have the opportunity to network with over 400 industry leaders representing more than 100 companies.
Fintech LIVE London 2023
November 08 – 09, 2023
Queen Elizabeth II Centre, London, UK


Fintech LIVE London 2023, taking place on November 08 and 09, will bring the fintech industry together to discuss the world of fintech, insurtech and crypto.
Attendees will have the option to participate either in person at the QEII Centre or virtually. With over 5,000 participants expected, including more than 60 premier speakers, the event is set to be one of the biggest fintech gatherings yet. Among the anticipated speakers are Saira Khan of HSBC, Jason Maude of Starling Bank, and Christian Rau from MasterCard.
Fintech LIVE London 2023 will revolve around nine central themes: payment technology, sustainability and net zero, digital banking, financial services, cryptocurrencies, fraud and identity verification, green and ethical finance, data and regtech, and women in fintech. Each segment promises in-depth exploration and insights from industry pioneers.
Web3: Impact the Economy
November 09, 2023
Lithuanian Exhibition and Congress Centre LITEXPO, Vilnius, Lithuania

Web3: Impact the Economy, taking place on November 09, 2023 in Vilnius, is a seminal event which will delve into the intricacies of the Web3 economy.
Participants will embark on an in-depth exploration of diverse subjects within the Web3 realm, ranging from DeFi, decentralized autonomous organizations (DAOs), and the metaverse, to crypto economies, decentralized social networks, and digital assets. In a holistic approach, the conference will also spotlight education, regulatory challenges, practical case studies, and the examination of actual decentralized business models.
The event promises a rich tapestry of participants, with a lineup that includes policymakers, founders of tech enterprises, CEOs of burgeoning startups, experts, tech aficionados, legal advisors, IT professionals, and representatives from NGOs.
These thought leaders and industry shapers will gather from all corners of the world, bringing their expertise to address the pressing challenges and opportunities inherent in the Web3 economy.
Fintech Talents Festival
November 13 – 14, 2023
The Brewery, London, UK


Fintech Talents Festival is making a comeback for its fifth iteration on November 13 and 14, 2023 at The Brewery in London. The event promises an unparalleled lineup with over 2,000 attendees, 400+ dynamic speakers, and activities across six distinct stages.
Senior leaders from diverse corners of the financial services world will present their visions for the industry’s future. The event will also showcase a blend of innovative fintech entities, technological change drivers, and a rapidly expanding group of pioneering leaders from non-financial corporations.
Confirmed speakers represent a wide array of organizations including Barclays, Natwest, HSBC, ING, Nespresso, Monzo, ASOS, Nationwide, Coventry Building Society, Yorkshire Building Society, NO. 1 Copper Pot Credit Union, E.ON, Volkswagen, Marks &amp; Spencer, Bolt, and many others.
Attendees will get to gain insights from a selection of stages such as Fintech Talents, FTT Open Finance, FTT Embedded Finance &amp; Customer Alpha, the newly introduced FTT AI Transformation for 2023, and the co-located Future Identity Festival and FTT Mutuals.
The festival will cover a vast spectrum, including banking-as-a-service (BaaS), software-as-a-service (SaaS) and retail banks, and address pressing subjects like generative AI and generational shifts.
Web Summit 2023
November 13 – 16, 2023
Altice Arena, Lisbon, Portugal


Scheduled from November 13 to 16, 2023, at the Altice Arena in Lisbon, Portugal, the Web Summit marks its return as one of the world’s largest congregations of tech leaders. Anticipated to bring together over 70,000 attendees, the Web Summit seeks to spotlight companies that are reshaping the contours of the tech industry.
In light of the uncertainty surrounding numerous industries and the global milieu, this year’s summit is more pertinent than ever and will aim to rally policymakers, state heads, and pivotal figures from tech giants and burgeoning startups to explore what lies ahead for the tech sector.
Moreover, with the current emphasis on continuous learning, Web Summit 2023 will also provide an opportunity for professional growth. Its array of educational content, masterclasses, and roundtables will ensure attendees can glean skills and insights to elevate their professional journey.
Finance Magnates London Summit
November 20 – 22, 2023
Old Billingsgate, London, UK

The Finance Magnates London Summit, also known as FMLS:23, will be held from November 20 to 22, 2023, at Old Billingsgate in London. It stands as the most significant event where finance intersects innovation, gathering expertise in online trading, fintech, payments, crypto, and blockchain. The summit anticipates a community of over 3,500 attendees, more than 150 speakers, and about 120 exhibitors.
Celebrating its 11th year, FMLS:23 strives to unite industry experts, professionals, and visionaries from diverse sectors such as banking, fintech, cryptocurrencies, forex, and beyond. The event will boast a stellar lineup of speakers and delegates and will emphasize sharing insights on the current trends, challenges, and opportunities in the global financial sector.
One of the summit’s major attractions will be its insightful panel discussions and keynote sessions where industry giants will share their perspectives on market trends, regulatory changes, blockchain, digital assets, and the financial future. The event will also feature interactive workshops for attendees seeking a deeper understanding, and will offer unparalleled networking opportunities, enabling attendees to liaise with influential figures from the financial services realm.
MoneyLive Payments Europe
November 21 – 22, 2023
SugarFactory, Amsterdam, The Netherlands

MoneyLive Payments Europe, scheduled to take place from November 21 to 22, 2023, at the SugarFactory in Amsterdam, aims to bring together leading figures from the payments realm to deliberate on pivotal topics that drive transformation and innovation in payments.
This year’s event will delve into a diverse set of key themes, including:

Retail payments innovation: This will cover a range of topics from point-of-sale (POS) innovation and BNPL trends to the evolution of e-commerce checkout experiences.
Payments infrastructure: Discussions will revolve around instant payments, cross-border payment dynamics, the ISO 20022 standard, and the global connection of faster payment systems.
Digital identity and fraud: This theme will address the European Digital Identity Wallet (EUDIW), advancements in biometrics for contactless payments, and the challenges of Authorized Push Payment (APP) fraud and liability.
The digital Euro: This segment will tackle the pilot projects concerning digital Euro in peer-to-peer (P2P) online and offline transactions, and payee-initiated payments.
Wallets and super-apps: The spotlight will be on the emergence of super-apps in Europe, the evolution of pan-European digital wallets, and the ongoing cardless revolution.
Open banking payments: Topics under this theme will include the progression towards the Payment Services Directive 3 (PSD3), the Single Payments Area Agreement (SPAA), insights into variable recurring payments and account-to-account (A2A) payments, and the prospective landscape of open banking payments.
Payments on the blockchain: This section will delve into the Markets in Crypto Assets (MiCA) regulation, the potential of tokenization, the role of cryptocurrencies in retail payments, and the vision of payments in a Web3 environment.
The value of data: The focus here will be on harnessing personalization for loyalty programs, adding value for merchants, and the significance of Intelligent POS systems coupled with enriched payments data.

Fintech World Forum 2023
November 22 – 23, 2023
Kensington Conference and Events Centre, London, UK

Fintech World Forum 2023 is based in London as one of leading fintech events 2023 for global financial services, finance and banking technology industry.
The event focuses on mobile payments, lending, insurance, blockchain, Bitcoin, investment, money, crypto, digital wallets, payments, tech, financial services, banking, insurtech, regtech and wealthtech.
Paris Blockchain Summit IV
November 25, 2023
Paris Etoile Business Center, Paris, France

The Paris Blockchain Summit IV, scheduled to take place on November 25, 2023, at the Paris Etoile Business Center, will provide industry stakeholders with a platform to cement their positions in this burgeoning domain.
Participants can look forward to a variety of programmatic elements including insightful keynotes, engaging conferences, business networking sessions, showcases of the latest technological innovations, and hands-on workshops centered around the concept of Web3.
The summit will promise insights from international speakers and leading experts from diverse sectors, ensuring attendees garner a comprehensive understanding of the blockchain landscape. Attendees will have the chance to connect with pioneering professionals who are shaping the future across various industries such as luxury, gaming, circular economy, sports, finance, the metaverse, NFTs, and many others.
The event is expected to bring together 1,200 people, representation of from 300 companies and institutions and 150 investors. The summit will feature 30 panels, workshops, and presentations.
Swiss FinTechs &amp; Nearshoring
November 28, 2023
Renaissance Tower Hotel, Zurich

Attend and learn from leading nearshoring IT service providers how they support Swiss FinTech companies (and many others) with their software engineering needs and deliver innovative solutions quickly, reliably &amp; cost-effectively.
Register here
Future of Insurance Europe 2023
November 28 – 29, 2023
Novotel, Amsterdam, The Netherland

Join Reuters the Future of Insurance Europe Even on 28-29 November in Amsterdam to discuss strategy, technology, customer, claims, and the industry’s trajectory. Designed specifically for you and attended by the most innovative industry players from 35+ countries across Europe and all business lines.
Register here
FIMA Europe 2023
November 28 – 29, 2023
The QEII Centre, London, UK

FIMA Europe 2023, slated to be held on November 28 and 29, 2023, at The QEII Centre in London, will convene some of the most influential investment banks, asset management companies, and insurance groups from around the world to delve deep into the strategies and best practices that will enable them to stay ahead in this challenging environment.
A notable addition to the 2023 edition of FIMA Europe is the Data Tech Innovation Day, an exclusive gathering designed to bring together a select group of professionals, including data architects, technologists, analytics specialists, and science leaders.
Key takeaways for attendees of the 2023 edition of FIMA Europe will include:

Generative AI: Understand how to responsibly harness the power of generative AI to revolutionize your data management processes.
Cloud Implementation: Discover the benefits and strategies of using the cloud to rapidly access multi-source data, ensuring efficient and effective decision-making.
Data Mesh: Explore the advantages of the data mesh approach, which facilitates federated access to an increasing array of data products, bolstering organizational data capacities.
ESG and Sustainable Investments: Equip businesses with the requisite data tools and insights to formulate and execute impactful ESG strategies, and champion sustainable investment initiatives.

Transform Payments Europe 2023
November 28, 2023
London, UK

Transform Payments Europe 2023, taking place on November 28, 2023, in London, will delve deeply into critical issues, offering attendees transformative insights, tactics, and connections to thrive in the payments industry. This conference promises an unmatched professional learning and networking experience, hallmarked by unparalleled levels of networking, insightful panel discussions, and a distinguished roster of attendees.
The event will emphasize the paramount importance of staying ahead of major regulatory changes and infrastructure shifts to tap into the vast potential of the worldwide payments market. It will offer insights into the future of the industry, networking opportunities with global leaders, and actionable strategies for immediate implementation.
Key themes to be covered include:

Regulatory Landscape: Understand the implications of forthcoming regulations and engage in discussions with senior leaders from institutions like the FCA, Bank of England, and UK Parliament.
Real-Time Payments: Adapt to payment innovations and evaluate investments in comprehensive payments infrastructure, software, and operating models to support 24/7 transactions.
AI and Fraud Prevention: Implement AI and fraud detection tools to counter scams, elevate payment acceptance, preserve reputation, and minimize false positives to guarantee a smooth customer experience.
Open Banking Innovations: Strategize with major entities like the FCA, BNP Paribas, and NatWest Bank of APIs and Open Banking Ltd to co-create cutting-edge payment experiences.
Embedded Finance: Integrate embedded banking solutions seamlessly within marketplaces, enabling embedded instant transactions and lending.
Future-Proofing Banking Tech: Hear from industry frontrunners like Nationwide, HSBC, Lunar, and JP Morgan about creating modular infrastructure, greenfield banking, and cloud-native platforms.

Fintech and Insurtech Digital Congress
December 04, 2023
The Westin Warsaw Hotel, Warszawa, Poland

The 2023 edition of the Fintech and Insurtech Digital Congress will take place on December 04 at the Westin Warsaw Hotel in Warszawa, Poland.
Attendees can expect to dive deep into the infinite potential of the financial and insurance sectors and see how today’s visionary ideas are being transformed into tomorrow’s realities. Moreover, the congress is renowned for facilitating elite networking opportunities, allowing attendees to share ideas, form strategic partnerships, and glean insights from international experiences.
This year, participants can look forward to a range of discussions covering topics such as comprehensive risk management strategies in finance and insurance, the evolution of the economic market through technological and legal changes, early trend detection in finance, the pivotal role of customer experience in modern finance, innovations in ESG technologies, the transformative potential of AI in the financial industry, the rise of intelligent automation, the ongoing revolution in payment methods, strategic financial balancing, and the intricacies of building a robust technology ecosystem.
Next Block Expo
December 04 – 05, 2023
CineStar Cubix  Alexanderplatz, Berlin, Germany

The 2023 edition of Next Block Expo, one of the most prominent blockchain festivals in Europe, will reconvene in Berlin on December 04 and 05 and is expected to bring together over 2,500 attendees, more than 140 speakers, 60 exhibitors, and 8 awards categories.
The two-day program promises a comprehensive exploration of the latest innovations and developments in the field of blockchain, covering topics and trends including DeFi, metaverse, NFTs, gaming, privacy, scaling, exchanges, venture capital (VC), fundraising, legal/tax perspectives, payments, and security.
The event will also feature distinct segments, such as the Trading Zone and Women in Web3, providing dedicated content and networking sessions. There will also be a Pitch Contest targeting Web3 startups and numerous other interactive opportunities.
Attendees will also have access a proprietary smart-networking app tailor-made for the event, where they can engage in one-on-one chats, schedule meetings, personalize their agenda, and gain insights on promotions, side events, and offerings by participating companies.
Impact Investing World Forum 2023
December 05 – 06, 2023
Kensington Conference and Event Centre, London, UK

The Impact Investing World Forum (IIWF) 2023 will convene at the Kensington Conference and Event Centre in London on December 05 and 06, 2023.
This year’s event will emphasize the social repercussions of various investment avenues. This includes an exploration of social impact bonds, stocks, private equity, investment banking, fintech, banking technology, and other related sectors. Moreover, the forum will delve into the broader realms of finance, encompassing blockchain, sustainability, responsible investing, VC, wealth management, and family office discussions.
Esteemed institutions and organizations, such as Big Society Capital, Oxford University, the European Union, the European Investment Bank, and Big Issue, are among the confirmed keynote speakers and contributors for the event.
IIWF 2023 will offer a unique platform to discuss and strategize the way forward for investments that not only yield financial returns but also make a significant positive difference in society at large.
Fintech Connect 2023
December 06 – 07, 2023
Excel, London, UK

Scheduled for December 06 and 07, 2023, at Excel in London, Fintech Connect 2023 aims to connect the global thought-leaders across the fintech ecosystem in an exhibition and conference like no other.
This year’s event is set to bring together 3,000+ global attendees – from forward-thinking start-ups to the C-suite of major financial institutions. The event will focus on four main themes:

Digital Transformation in Financial Services: This segment will delve into the intricacies of embedding generative AI, the pathways to successful fintech partnerships, ensuring profitability through embedded finance, and leveraging technology for a tailored customer experience.
Innovations in B2B and B2C Payments: The spotlight will be on understanding the ripple effects of embedded finance and payments orchestration, strategies for securing payments against fraudulent activities, and the repercussions of new standardizations in payments.
Web3 Technologies and the Blockchain Transformation: This theme will include discussions on central bank digital currencies (CBDCs) from leading central banks, insights into the evolving landscape of institutional cryptocurrency, and the role of metaverses in potential digital metamorphoses.
Leadership in Financial Service Security: This domain will center on enhancing customer protection through digital identity, strategies against escalating financial malpractices and cyber threats, and harnessing AI in regtech for a harmonious blend of efficiency and compliance.

]]></description><link>https://fintechnews.eu/top-28-upcoming-fintech-events-taking-place-in-europe-in-q4-2023</link><guid>3359</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>Top 28 Upcoming Fintech Events Taking Place in Europe in Q4 2023</dc:text></item><item><title>Instant Payments Is Booming: McKinsey Global Payment Report 2023</title><description><![CDATA[Usage of cash globally is decreasing at a consistent pace as electronic transactions, including those involving instant payments and digital wallets, are taking off, a new report by McKinsey shows.
The 2023 Global Payments Report, released on September 18, shares key findings from McKinsey’s proprietary payment market intelligence platform and data, which span more than 25 payments products in 47 countries.
An analysis of the evolution of the global payments sector over the past year shows that cash usage dropped by nearly 4% in 2022, led by cash-reliant economies including India and Brazil where the share of cash transactions fell by 7 to 10 points in favor of instant payments. Digital wallets, which are used to conduct most of instant payments, are seeing similar growth.




   



    
   


   








Usage of Brazil’s Pix system continues upward trend
In Brazil, the report notes that the decline of cash transactions came in tandem with the rise of the country’s Pix system.
Pix is a mobile-based real-time payments service launched in 2020 with the aim of reducing cash transactions and offering an alternative to existing payment instruments that’s faster and more affordable.
The service allows instant payments between individuals and between individuals, companies, and government, and operates 24 hours a day, seven days a week and 365 days a year. Pix has been used by about 140 million individuals, or 80% of the adult population, and 13 million firms, statistics from Banco Central do Brasil show.
According to a 2023 report by ACI Worldwide and GlobalData, the use of instant payments in Brazil surged by a staggering 228.9% between 2021 and 2022. By 2027, real-time payments are expected to represent a 40.8% share of total payments volume, up by 24.7 points from a 16.1% share in 2022. McKinsey estimates that by then, almost half of the transactional revenue growth through 2027 is expected to come from instant payments.
Shares of volumes by payments instrument in Brazil, Source: Prime Time for Real-Time Global Payments Report, ACI Worldwide, March 2023
UPI transactions dominate Indian payments landscape
Similarly, the volume of India’s digital payments has grown tenfold over the past five years and McKinsey projects it to grow at roughly 35% per year over the next five. New digital transactions in India have so far been the result of cash displacement, a trend which will carry on moving forward.
In H1 2023, 51.91 billion transactions were conducted through the Unified Payments Interface (UPI) network, increasing by 62% year-on-year (YoY), data from the government show.
According to Dilip Asbe, the managing director of the National Payments Corporation of India, which oversees UPI, the platform has grown rapidly and is now used by close to 300 million individuals and 50 million merchants.
UPI is an instant payments system that facilitates inter-bank peer-to-peer and person-to-merchant transactions. The infrastructure was introduced in 2016 and aims to provide a new payment system that’s simple, secure and interoperable. According to a CNBC report, UPI now accounts for over 75% of all retail digital transactions in India, up from just 23% in 2018.
Instant payments pick up in Nigeria
McKinsey notes that a similar trend is being observed in Nigeria where the share of cash transactions fell to 80% in 2022 from 95% in 2019. Over the same period, instant payments’ share quadrupled to 8%.
Nigeria introduced its Nigeria Inter-Bank Settlement System (NIBSS) in July 2011. The system is supported by all commercial banks, micro-finance banks and mobile money operators, and can be used via different modalities including Internet and mobile banking, bank branches, kiosks, mobile USSD, point-of-sale (POS) terminals and ATMs.
NIBSS instant payments rose from 729.2 million transactions in 2018 to 5.2 billion in 2022, data from the government show. The ACI Worldwide and Global Data report projects that the volume of real-time transactions in the country will rise to 8.9 billion by 2027.
Shares of volumes by payments instrument in Nigeria, Source: Prime Time for Real-Time Global Payments Report, ACI Worldwide, March 2023
Rise of instant payments and digital wallets to push payments revenues
Global payments revenues grew by 11% in 2022, reaching an all-time high of over US$2.2 trillion, data from McKinsey show. This growth was largely driven by North America, Latin America, and Europe, the Middle East and Africa which recorded double-digit growth rates.
Global payments revenues, 2017-2027 (US$ trillion), Source: 2023 McKinsey Global Payments Report, Sep 2023
Between 2022 and 2027, global payments revenues are expected to grow by a compound annual growth rate of 7% to reach US$3.2 trillion. According to McKinsey, this future growth will be stimulated by instant payments innovations and the rise in digital wallets.
Cash-heavy developing economies, in particular, are set to drive much of this shift toward real-time payments. By 2027, the consulting firm projects that these countries’ share of instant payments will represent roughly half of their payments transactions – nearly two-and-a-half to three times greater than their share in 2022.
Emerging markets including India and Brazil are already standing as world leaders in instant payments. In 2022, these countries were the two largest real-time payments markets in the world, accounting for 46% and 15% of all real-time transactions globally, respectively, the ACI Worldwide and Global Data report show.
In 2022, global real-time payments transactions reached a volume of 195 billion, representing a YoY growth of 63.2%. By 2027, these transactions are expected to account for 27.8% of all electronic payments globally.

Featured image credit: freepik
]]></description><link>https://fintechnews.eu/instant-payments-is-booming-mckinsey-global-payment-report-2023</link><guid>3358</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>Instant Payments Is Booming: McKinsey Global Payment Report 2023</dc:text></item><item><title>Schweizer Online-Lending-Markt knackt erstmals die 20-Milliarden-Franken-Grenze</title><description><![CDATA[Die Geschäftsmodelle von Marketplace Lending Plattformen unterscheiden sich fundamental von demjenigen von Banken. Sie treten lediglich als Online-Vermittler auf und nehmen keine Einlagen von Kundinnen und Kunden in die eigene Bilanz. Sie vergeben selber auch keine Kredite.
Institutionelle und private Investoren können so direkt in Fremdkapital investieren. 2022 wurde auf Online-Plattformen Fremdkapital mit einem Volumen von 21.4 Milliarden Franken vermittelt. Im Vorjahr waren es 15.4 Milliarden Franken. Das entspricht einem Anstieg von 16 Prozent. In den letzten fünf Jahren hat sich das Volumen sogar vervierfacht.
Dies zeigt die neueste Ausgabe des Marketplace Lending Reports der Hochschule Luzern (HSLU), der Swiss Marketplace Lending Association (SMLA) und der APEX Group. Es ist die einzige umfassende Analyse zur Fremdkapital-Finanzierung von Schweizer Unternehmen, öffentlich-rechtlichen Körperschaften und Privatpersonen über Plattformen im Internet.




   



    
   


   








Entwicklung Marketplace Lending in der Schweiz 2017 bis 2022 (nach Segment): Im vergangenen Jahr stieg die Fremdfinanzierung über Online-Plattformen um 16 Prozent auf über 21.4 Milliarden Franken. Das Volumen ist somit rund vier Mal höher als im Jahr 2017. Besonders stark gestiegen sind Online-Kredite und Anleihen für Grossunternehmen, KMU und öffentlich-rechtliche Körperschaften mit schätzungsweise 14.7 Milliarden Franken. Sie machen mit 65 Prozent den Grossteil des Online-Fremdkapitals aus. Für öffentlich-rechtliche Körperschaften sind Online-Kredite zu einem wichtigen Finanzierungsstandbein geworden (Zum Vergrössern klicken).

Online-Plattformen beliebt bei öffentlich-rechtlichen Körperschaften
Die Volumina und Wachstumszahlen der verschiedenen Segmente von Marketplace Lending unterscheiden sich aber deutlich. Kredite und Anleihen für mittelgrosse Unternehmen, Grossunternehmen und öffentlich-rechtliche Körperschaften machen mit 13.7 Milliarden Franken fast 65 Prozent aller über Online-Plattformen gesprochenen Fremdkapital-Finanzierungen aus.
Prof. Dr. Andreas Dietrich
«Für öffentlich-rechtliche Körperschaften wie Gemeinden, Städte oder beispielsweise Spitäler und Verkehrsbetriebe ist Marketplace Lending zu einem wichtigen Finanzierungsstandbein geworden»,
sagt Co-Autor der Studie Prof. Dr. Andreas Dietrich. Rund 15 Prozent ihrer Fremdfinanzierungen würden sie gemäss Schätzung der Studienautoren mittlerweile über Online-Plattformen erhalten.
«Viele von ihnen haben mittlerweile erkannt, dass diese Finanzierungsmöglichkeit gerade auch aus Preis-Sicht attraktiv sein können”, so Dietrich.
Weniger Wachstum bei Online-Hypothekarkrediten
Vermittler von Hypothekarkrediten erzielten im Jahr 2022 ein Volumen von 6.2 Milliarden Franken. Dadurch erreichten sie gemäss Schätzung der Studienautoren einen Marktanteil von etwa 3.5 Prozent. Die Wachstumsdynamik der Online-Vermittlungsplattformen hat sich in den letzten drei Jahren aber stetig verlangsamt. Die Gründe dafür sind gemäss den Studienautoren vielfältig. Dazu gehören die höheren Zinssätze, der Wegfall der Credit Suisse und das sich nur langsam verändernde Kundenverhalten. Einzelne Hypothekenvermittler haben deshalb auch ihr Geschäftsmodell angepasst und fokussieren sich weniger auf das Plattformgeschäft mit direktem Kontakt zu den Endkunden (B2C-Bereich). Die Studienautoren erwarten deshalb, dass der Online-Hypothekenmarkt im B2C-Bereich in den nächsten zwei Jahren nicht mehr weiter wachsen wird.
Institutionelle Investoren und FinTechs wichtig für Schweizer Finanzmarkt
Mit der Ausnahme von Crowdlending steht Marketplace Lending lediglich institutionellen Investoren offen. Doch auch dort stammt rund die Hälfte des investierten Kapitals von institutionellen Investoren. Besonders Pensionskassen und externe Vermögensverwalter investieren aktiv über Crowdlending-Plattformen oder indirekt über entsprechende Fonds-Lösungen.

]]></description><link>https://fintechnews.eu/schweizer-online-lending-markt-knackt-erstmals-die-20-milliarden-franken-grenze</link><guid>3357</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>Schweizer Online-Lending-Markt knackt erstmals die 20-Milliarden-Franken-Grenze</dc:text></item><item><title>TX Ventures Invests in UK Core Banking Platform Saascada</title><description><![CDATA[TX Ventures has invested in UK-based core banking platform SaaScada. This investment allows SaaScada to further expand its footprint across Europe.
With the expansion of SaaScada’s sales and marketing functions following investment in 2022, SaaScada’s data-driven core banking brand has been growing strong in the European market with fintechs and banks seeking to swiftly launch and scale using a proven, affordable SaaS banking solution. The growing brand has also seen keen interest from further afield and is making inroads into the MENA and APAC regions.
Co-founded by industry disruptors Nelson Wootton and Steve Round, SaaScada has taken a completely new approach to core banking by adopting the very latest cloud-native architecture and data streaming to deliver a truly data-driven core banking solution for banks and fintechs of all sizes. The flexibility of the architecture makes it possible for new entrants to build from the ground up while also enabling financial institutions with legacy systems to build new offerings to run alongside their existing core in a co-existence model. Overtime, this approach also enables controlled migration of legacy business. Through open APIs, SaaScada’s core banking platform sits at the heart of best-of-breed ecosystems to drive innovation and exceptional customer experiences.




   



    
   


   








Nelson Wootton
“We are super excited to have TX Ventures join us on this journey. Their investment further validates the platform, the product and the team as we continue to disrupt the core banking market by bringing innovative new solutions to long established challenges.”
says Nelson Wootton, Co-Founder and CEO at SaaScada.
“Until now price has been a barrier for those looking to innovate. We’ve reduced the cost of getting to market by removing the traditional product module architecture, simplifying the charging structure and making it easier to integrate with a wide range of ecosystem partners. Our success has resulted in us being approached by a number of investors but the shared focus on democratisingaccess to financial products made TX Ventures the natural fit for us.”
Krzysztof Bialkowski
Krzysztof Bialkowski, Managing Partner at TX Ventures comments:
“We are thrilled to become part of the SaaScada success story. The team’s profound expertise, coupled with their data-centric approach, has not just impressed us, but truly inspired us. We both share the same values and the conviction that financial services should be made accessible to all. SaaScada is a perfect addition to our Fintech portfolio, and we look forward to a fruitful collaboration that will redefine the financial industry landscape.”



Featured image credit: Steve Round, Co-Founder of SaaScada and Nelson Wootton, Co-Founder and CEO at SaaScada
]]></description><link>https://fintechnews.eu/tx-ventures-invests-in-uk-core-banking-platform-saascada</link><guid>3356</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>TX Ventures Invests in UK Core Banking Platform Saascada</dc:text></item><item><title>12 Winning Initiatives of Zurich Insurance Innovation Championship 2023</title><description><![CDATA[From submission to winner and now local execution – with the chance to be scaled globally. That’s the action-packed journey that this year’s Zurich Innovation Championship winners have undertaken over the past nine months.
Zurich Insurance Group held recently its first Innovation Demo Day to celebrate the 12 winning initiatives that have successfully made it through a four-month long accelerator and will now be executed locally – and, in one case, even be launched as a global service.
During the event at Zurich’s headquarters, the 12 startups presented their initiatives, supported by executive judges for each of the five program categories.




   



    
   


   








Zurich kicked off the fourth edition of its global startup program, the Zurich Innovation Championship, in January 2023. In May 2023, it announced this year’s winners from more than 3,500 submissions. The winners then entered a four-month accelerator during which they worked on testing the practical viability of their initiatives and preparing a business plan together with the Zurich business units that selected them. All the initiatives are now preparing for local roll-out, with the potential to be scaled globally. In the case of Paris-based startup Citalid, it is already ramping up to integrate its cyber risk quantification platform as part of a new global service of Zurich Resilience Solutions.
Joel Agard
Joel Agard, Head of Innovation at Zurich Insurance Group and Zurich Innovation Championship co-lead, said:
“True innovation requires relentless determination to turn challenges into growth opportunities. The Zurich Innovation Championship embodies this, and I’m thrilled to see the 12 winning initiatives. They’re stepping stones towards the future of insurance.”
Antony Elliott, Head of Digital R&amp;D at Zurich Insurance Group and Zurich Innovation Championship co-lead, added:
“The Zurich Innovation Championship is a transformative learning experience for both the startups and Zurich alike. By combining the expertise of our business unit teams with innovative, tech-savvy startups, I believe we have built 12 initiatives that really have the potential to shake things up in the industry.”
Altogether, more than 45 collaborations are ongoing globally with previous winners and participants from the four editions of the Zurich Innovation Championship, including some that have started to be rolled out globally.
The next edition of the Zurich Innovation Championship is due to launch in late January 2024.
The winning initiatives 2023 are:


Agave Biosensors (LiveWell by Zurich, Group Claims)


Citalid (Zurich France, Zurich Resilience Solutions)


EpiQMAx (Zurich Germany)


Fisify (Zurich Chile, Zurich Mexico, Zurich Spain)


Hence Technologies (Zurich Canada, Group Claims)


KorrAI (Zurich North America)


Minalea (Zurich Italy, Zurich Portugal)


Miss MoneyPenny (Zurich Germany, Zurich Global Ventures)


Omni:us (Zurich Switzerland)


Spotr (Zurich Ireland)


Truera (Group Digital Business Intelligence)


Wysa (Zurich North America)

]]></description><link>https://fintechnews.eu/12-winning-initiatives-of-zurich-insurance-innovation-championship-2023</link><guid>3355</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>12 Winning Initiatives of Zurich Insurance Innovation Championship 2023</dc:text></item><item><title>Zuger Kantonalbank Launches Crypto Asset Trading and Storage</title><description><![CDATA[The first cantonal bank to offer clients straightforward trading and secure storage of the most common cryptocurrencies. The offering complements its existing investment services and is delivered within a fully regulated banking environment.
As of today, Zuger Kantonalbank clients are able to invest in cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin, Polygon and Uniswap. The digital assets can be bought, traded and stored simply and conveniently via the bank’s e-banking or mobile banking services, and are traded in US dollars. Trading takes place from Monday to Friday, between 1.30 a.m. and 10.00 p.m. Naturally, the offering is available to new clients as well.
Hanspeter Rhyner
“For some time now, we’ve seen that the growing demand for cryptocurrencies is no longer coming from professional market participants alone. So, we’re delighted that with immediate effect we can provide our clients with straightforward, convenient as well as safe access to these markets without them having to leave their familiar banking environment. Working with our partners, we’ve created an advanced infrastructure that enables us to offer investors an additional opportunity to diversify,”
says Hanspeter Rhyner, CEO of Zuger Kantonalbank. Transparent, easy access to digital assets




   



    
   


   








Zuger Kantonalbank set itself the target of making investing in digital assets as easy as possible. Thanks to direct integration into the bank’s mobile and e-banking solutions, clients are able to manage their traditional assets and cryptocurrencies on a one-stop basis. An active custody account with Zuger Kantonalbank is essential for settlement purposes. The trading and storage of cryptocurrencies are based on the same procedures and processes that apply to traditional assets. The documents required for the completion of tax returns will also be available electronically, as usual. And, when selling their cryptocurrencies, clients will have immediate access to the proceeds. In addition, due to direct integration into the e-banking and mobile banking portal, there is no need for the separate storing of digital keys.
Partnerships with Sygnum and Swisscom
For the new offering, Zuger Kantonalbank is using the B2B banking platform provided by Sygnum: Via a single access point, this opens up a broad range of FINMA-regulated banking services for digital assets. The platform’s modular structure enables the regulated trading and storing of cryptocurrencies to be seamlessly integrated into Zuger Kantonalbank’s existing infrastructure.
In terms of the development of the technological platform and infrastructure, Zuger Kantonalbank was supported bySwisscom
The storing of digital assets is covered by the same strict legal standards that apply to traditional financial transactions. As a regulated bank subject to Swiss law, Sygnum Bank complies with all relevant legal and regulatory obligations on the basis of its robust ALM processes as well as institutional security standards.

]]></description><link>https://fintechnews.eu/zuger-kantonalbank-launches-crypto-asset-trading-and-storage</link><guid>3354</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>Zuger Kantonalbank Launches Crypto Asset Trading and Storage</dc:text></item><item><title>UBS Asset Management Launches First Blockchain-Native Tokenized VCC Fund Pilot in Singapore</title><description><![CDATA[UBS Asset Management has launched its first live pilot of a tokenized Variable Capital Company (VCC) fund. The fund is part of a wider VCC umbrella designed to bring various “real world assets” on-chain as part of Project Guardian, a collaborative industry initiative led by the Monetary Authority of Singapore (MAS).
Thomas Kaegi
Thomas Kaegi, Head UBS Asset Management, Singapore &amp; Southeast Asia, said:
“This is a key milestone in understanding the tokenization of funds, building on UBS’s expertise in tokenizing bonds and structured products. Through this exploratory initiative, we will work with traditional financial institutions and fintech providers to help understand how to improve market liquidity and market access for clients.”
Utilizing the firm’s in-house tokenization service, UBS Tokenize, UBS Asset Management launched this controlled pilot of a tokenized money market fund. Represented as a smart contract on the Ethereum public blockchain, the pilot enables UBS Asset Management to carry out various activities including fund subscriptions and redemptions.




   



    
   


   








This pilot is part of UBS Asset Management’s global distributed ledger technology strategy, focused on leveraging public and private blockchains networks for enhanced fund issuance and distribution. It also forms part of the broader expansion of UBS’s tokenization services through UBS Tokenize. In November 2022, UBS launched the world’s first digital bond that is publicly traded. In December 2022, UBS issued a USD 50 million tokenized fixed rate note, and in June 2023 originated CNH 200 million of fully digital structured notes for a 3rd party issuer.
Following the successful launch of the first pilot transactions, UBS Asset Management will be looking to execute further live pilot use cases under Project Guardian – working with a wider set of partners and explore various investment strategies.

This article first appeared on Fintechnews.sg
]]></description><link>https://fintechnews.eu/ubs-asset-management-launches-first-blockchain-native-tokenized-vcc-fund-pilot-in-singapore</link><guid>3353</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x81825</dc:content ><dc:text>UBS Asset Management Launches First Blockchain-Native Tokenized VCC Fund Pilot in Singapore</dc:text></item><item><title>New Study Sheds Light on Crypto’s Super-Rich</title><description><![CDATA[Over the past decade, the rise of cryptocurrency has created a new class of millionaires and billionaires. The early adopters, investors, business founders, and more broadly, those who bought in early and held onto their investments, became extremely rich, accumulating massive wealth as prices soared.
A new report by wealth and investment migration specialists Henley and Partners, released on September 05, 2023, shares insights into the state of crypto wealth, providing exclusive statistics on crypto and bitcoin millionaires, centi-millionaires, and billionaires.
According to the report, the total market value of crypto stood at around US$1.2 trillion in July 2023. The market had about 425 million users with around 0.02% of these crypto users, or 88,200 crypto investors, being crypto millionaires. The market also boasted 182 centi-millionaires, or high-net-worth individuals (HNWIs) with crypto holdings of US$100 million or more, and 22 billionaires.




   



    
   


   








Showcasing the prominence of bitcoin, the report reveals that just under half of crypto millionaires (40,500) were holding their fortunes in bitcoin solely. The same trend is observed in the global super-rich league where around the same proportion of centi-millionaires were bitcoiners. As of crypto billionaires, six of the world’s 22 crypto billionaires were found to have amassed their wealth from bitcoin only.
Global crypto wealth statistics, Source: Crypto Wealth Report, Henley and Partners, Sep 2023
Switzerland ranked among world’s best crypto hubs
As part of the report, Henley and Partners produced an index designed to assess and rate the best investment migration options for crypto investors according to these locations’ level of adoption and integration of cryptocurrencies and blockchain technology.
A list of 26 countries was selected based on an assessment of the regulatory, technological, economic, and social factors necessary for the development of the blockchain and crypto ecosystem.
According to the ranking, Singapore currently leads the pack as the top crypto hub. The city-state is being recognized for its innovative ecosystem and supportive community, and ranked at the top of the list in terms of public adoption.
The report also highlights the nation’s beneficial crypto taxes rules for individuals and investors, with no capital gains taxes, and notes that the government has been cooperating closely with all actors, including banks, businesses, and the public, for the optimal development of the national crypto sector.
Sitting at the second place is Switzerland, which is being praised for its well-established crypto infrastructure, robust legal framework, and reputation for privacy and security. However, the country scored relatively poorly in public adoption of crypto, falling behind countries like the United Arab Emirates (UAE), the US and the UK.
At the third position is the UAE. The Middle Eastern country stands out as a leading jurisdiction for crypto investors, boasting a strong public adoption score and vibrant interest in the crypto ecosystem. The regional powerhouse also offers favorable tax policies and a high level of economic stability.
At the fourth, fifth and sixth positions are Hong Kong, Australia and the UK, three jurisdictions that are being recognized for their high levels of crypto adoption and their supportive regulatory landscapes.
Most tax-friendly locations
In terms of taxation, the study found Singapore and the UAE to be the jurisdictions with the best tax regimes for crypto-related activities. Hong Kong, Mauritius and Monaco followed suit.
Looking at investment migration in particular, the report notes that Canada, Malta and Malaysia currently have the most appealing investment migration program options for crypto investors.
Investment migration refers to special programs that allow individuals to gain citizenship or residence rights in return for investments in their host countries.
The report notes that the government of Malta has been working on developing its blockchain ecosystem, focusing in particular on fostering innovation, attracting blockchain businesses, and providing regulatory clarity. Malaysia, meanwhile, is developing into a promising center for blockchain innovation in Asia with a burgeoning crypto community and the emergence of numerous startups.
Crypto Adoption Index, Source: Crypto Wealth Report, Henley and Partners, Sep 2023
Crypto adoption declines
Worldwide adoption of crypto has declined over the past year amid underlying volatility, broad declines in valuations and the series of business collapses that occurred throughout 2022.
The number of traditional hedge funds investing in the asset class fell to 29% in 2023, down from 37% last year, a survey conducted in Q1 2023 by PwC and CoinShares shows. Similarly, a 2023 study run by Goldman Sachs found that interest in crypto from family offices is decreasing. Of the 166 family offices polled, 62% of those that are not investing in the asset class said they have no plans in participating in the future, up from 39% two years ago.
Global consumer adoption is also down, falling well off its all-time highs observed in 2021, new data released by Chainalysis show.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/new-study-sheds-light-on-cryptos-super-rich</link><guid>3352</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>New Study Sheds Light on Crypto’s Super-Rich</dc:text></item><item><title>US VC Investments Show Signs of Stabilization</title><description><![CDATA[After 18 months of decline, the US venture capital (VC) investment landscape is showing signs of stabilization and returning to 2019-2020 levels, new data released by Silicon Valley Bank (SVB) show.
In H2 2022 and H1 2023, VC investments in US companies totaled US$182 billion, the H2 2023 State of the Markets report says, reaching sums witnessed in 2019 and 2020.
Although SVB notes that there have been predictions of drops in fundraising based on key indicators such as inverted yield curve, falling corporate profits, increased down rounds and declining revenue growth among startups, the bank is confident in the resilience of the innovation economy and projects brighter days ahead.




   



    
   


   








VC investment in US companies, Source: H2 2023 State of the Markets, Silicon Valley Bank, 2023
According to the report, past cycles have taken between 12 and 18 months to find a bottom. June marked the 18th month of this cycle, and while US VC investment levels may still fall, SVB says it sees signs of stabilizing.
VC investment in US company: Indexed to 100 at market peak, Source: H2 2023 State of the Markets, Silicon Valley Bank, 2023
These data and projections were shared in the bank’s latest State of the Markets report. The document, which was released last month, leverages SVB’s proprietary data and vast network of relationships with investors and startups to gauge the health and productivity of the innovation economy. The report also relies on findings of a survey of 80 notable VCs to understand the new normal for banking and gain insights into how these investors are thinking about banking when it comes to their portfolio companies.
Finding the bottom
The report notes that investment levels significantly declined in H1 2023, especially in the late-stage sector. The trend mirrors public markets where 89% of VC-backed tech companies that went public in 2021 are now trading below their initial public offering (IPO) market capitalizations, it says.
The number of freshly minted tech unicorns decreased substantially, dropping from a record of 293 in 2021, to 168 in 2022, and a mere 13 in H1 2023. SBV estimates that only 13% of these billion-dollar startups are currently profitable, with the vast majority of them relying on large, late-stage deals to stay afloat.
US tech unicorn formation and value, Source: H2 2023 State of the Markets, Silicon Valley Bank, 2023
Valuations and deal sizes are also down across all stages, though Series D and higher-stage startups have been the hardest hit. In H1 2023, these companies saw their median pre-money valuations and median deal sizes decreased by more than 50% compared with the same period in 2022. These metrics declined more modestly for Series A startups, with valuations and deal sizes dipping by 13% and deal sizes decreasing 21% year-over-year (YoY) in H1 2023, respectively.
US VC-backed tech companies: Deal benchmarking by deal date and stage, Source: H2 2023 State of the Markets, Silicon Valley Bank, 2023
Besides deal metrics, operating metrics for companies raising capital have changed as well, the report notes. Startups are putting a greater focus on profitability and reducing burn rates, which, SVB claims, have decreased 24% since the start of 2023. This shift has ultimately impacted their revenue growth.
Stronger, leaner companies
The US VC fundraising landscape experienced record-breaking growth for five consecutive years starting in 2017, driven by low interest rates, investors seeking returns in private markets, and rapid tech adoption during the pandemic.
However, since H1 2023, the market has witnessed a 66% drop in VC fundraising, with only US$35 billion raised in H1 2023.
According to SVB, part of the reason for that is that many firms are not looking to raise capital as they had already done so during the boom. Instead, they are biding their time and deploying capital far more slowly.
Evidenced of that is that only 46% of US VC-backed tech companies said that they must raise capital in the next 12 months, a proportion that’s lower than historical pre-pandemic levels.
The report also notes that while the focus on profitability has led to lower revenue growth, earnings before interest, taxes, depreciation, and amortization (EBITDA) margins have increased, suggesting improved operational profitability and efficiency.
SVB estimates that since this time last year, operating margins of US VC-backed tech companies have improved 37% points. If the current trend of improving profitability continues, the bank expects operating margins to surpass their 2020 peak by the end of 2023.
Ultimately, this focus on profitability and financial performance will be beneficial for the US tech industry, SVB says, and will help create stronger, leaner tech companies that capable of sustainable growth and stronger long-term performance.
Trends shared in the SVB report are consistent with what’s been observed globally. Data from research firm Pitchbook shared with Reuters show that VC funding globally almost halved in the first six months of 2023, declining 48% to US$173.9 billion.
The trend highlights less demand from companies amid sharply higher interest rates and a lack of enthusiasm on the part of investors, a report says, and comes despite high interest in artificial intelligence (AI) startups. According to Pitchbook, investors committed more than US$40 billion into AI startups in the first half of the year, participating in massive rounds such as OpenAI’s US$10 billion investment and Inflection AI’s US$1.3 billion round.

This article first appeared on fintechnews.am

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/us-vc-investments-show-signs-of-stabilization</link><guid>3351</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>US VC Investments Show Signs of Stabilization</dc:text></item><item><title>Banking is Becoming Byte-Sized with Rise of Embedded Finance</title><description><![CDATA[Banks must harness disruptive technologies and create their own or actively participate in digital ecosystems to remain at the heart of the banking universe, according to a global Economist Impact study, commissioned by Temenos, which surveyed 300 banks across the globe.
The report, “Byte-sized banking: Can banks create a true ecosystem with embedded finance?” finds that payment companies, technology and e-commerce disruptors are competing against banks with embedded finance solutions. Coupled with consumers’ growing expectations for better, more personalized products and services, this is forcing banks to assess the role they play and how they must adapt.





   



    
   


   








Almost four-in-five (79%) of survey respondents agree that banking will become “embedded” in consumers’ lives and businesses’ value chains. One-in-five banks in the survey expect their business model to evolve in the coming years to offer banking-as-a-service (BaaS) to brands and fintechs and enabling embedded finance within their own products and services. Nearly twice as many want to retain the consumer-facing experience and act as a true digital ecosystem themselves.
Jonathan Birdwell
Jonathan Birdwell, Global Head of Policy &amp; Insights, Economist Impact, said:
“New technology and customer demands are the top two trends expected to impact banking in the next five years. To maintain their direct connection with the consumer, banks are recognizing that they must become true digital ecosystems. Customer centricity will also drive banks to offer more embedded ESG and sustainable banking propositions to their customers in the future.”
Kanika Hope
Kanika Hope, Chief Strategy Officer, Temenos, commented:
“Banks need to tap expertise in new technologies like cloud and AI as well as collaborate with fintechs and technology companies to offer embedded finance as well as to build digital ecosystems. The case for the public cloud is becoming more apparent, 51% of respondents agreeing that banks will no longer own any data centers due to the move to public cloud in next five years. Environmental concerns have also joined the list of reasons— business agility, efficiency and security—why banks are accelerating the shift to the cloud.”
New technologies are expected to have the biggest impact on banks in the next five years, more than customer demands and changing regulation, according to 63% of respondents. “If you do not have modern technology, younger generations will not bank with you, it doesn’t matter how long you’ve been around,” according to a bank CEO quoted in the report. 71% of respondents say unlocking value from AI will be the key differentiator between winners and losers with generative AI in particular expected to drive banking by 75% of respondents.

Fintech Collaboration is Key
Collaboration with fintechs or other technology providers is key to accessing expertise in emerging technologies. Against this backdrop, banking executives surveyed foresee relationships within the industry evolving over the next one to three years. As many as 44% of survey respondents believe that banks will acquire majority stakes in fintechs and 32% believe that there will be market consolidation among challenger banks in the next one to three years.

]]></description><link>https://fintechnews.eu/banking-is-becoming-byte-sized-with-rise-of-embedded-finance</link><guid>3350</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Which-trends-do-you-believe-will-have-the-biggest-impact-on-banks-in-the-next-five-years-1024x761.png?x81825</dc:content ><dc:text>Banking is Becoming Byte-Sized with Rise of Embedded Finance</dc:text></item><item><title>Hypi Lenzburg Joins SIX Digital Exchange</title><description><![CDATA[SDX, operator of a Swiss stock exchange and CSD using distributed ledger technology, welcomes Hypothekarbank Lenzburg as a new member on its Central Securities Depository (CSD).
Joining SDX’s CSD marks a milestone for Hypothekarbank Lenzburg on its path to becoming a major player in the Swiss market for tokenized digital assets and bringing native digital securities onto the platform. With SDX’s comprehensive infrastructure for various digital securities types, including Digital Bonds and Digital Equities.
Marianne Wildi
“The SDX membership marks a significant step in advancing our bank’s presence in digital assets. Beyond token issuance and custody, our offering should include the possibility of listing digital value rights on a trusted trading venue. SDX’s ecosystem aligns seamlessly with our goals, and we eagerly anticipate this cooperation,”
says Marianne Wildi, CEO of Hypothekarbank Lenzburg.




   



    
   


   








David Newns
“We firmly believe that a strategic alliance with Hypothekarbank Lenzburg facilitates our mission to provide institutional clients with innovative, trusted, and efficient financial markets infrastructure and services for digital assets,”
adds David Newns, Head of SIX Digital Exchange.
Hypothekarbank Lenzburg is the 6th bank to join SDX and is in the illustrious round with Berner Kantonalbank , Credit Suisse, Kaiser Partner Privatbank, UBS and Zürcher Kantonalbank.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/hypi-lenzburg-joins-six-digital-exchange</link><guid>3348</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Hypi Lenzburg Joins SIX Digital Exchange</dc:text></item><item><title>Jumio Recognized as Representative Vendor for Identity Verification by Gartner</title><description><![CDATA[Jumio, a provider of identity verification solutions, has been recognized as a Representative Vendor in the latest Gartner Market Guide for Identity Verification. This is the fifth consecutive year that Jumio has received this recognition.
Vendors are selected for the Market Guide based on a number of criteria, including their capabilities and their representation of particular market segments or geographic regions among others.
The Market Guide notes,




   



    
   


   








“The purpose of identity verification is to establish confidence in the identity of a user during a digital interaction. As a result, across all geographies and industries, the use cases in which identity verification is required in the market today have become broad in scope.

This is accelerating as the pace and reach of digital transformation continue to expand the scope of digital interactions for both customers and workforce.”
Jumio was also recently recognized as a Representative Vendor in the 2023 Gartner Market Guide for User Authentication.
Stuart Wells
“We think that the Market Guide reinforces what we believe to be true: that the rise of deepfakes warrants a stronger form of identity verification, and that organizations must adopt multimodal biometric authentication, multi-modal liveness checks, deepfake detection models, as well as technologies to prevent presentation and injection attacks,”
said Stuart Wells, Chief Technology Officer at Jumio.


This article first appeared on Fintech News America. 
]]></description><link>https://fintechnews.eu/jumio-recognized-as-representative-vendor-for-identity-verification-by-gartner</link><guid>3349</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Jumio Recognized as Representative Vendor for Identity Verification by Gartner</dc:text></item><item><title>Payment Incumbents Ramp up B2B Payment Innovation Efforts</title><description><![CDATA[Innovation in consumer payments has progressed tremendously over the past years, pushed by demand for more efficient and secure methods of paying for goods and services both online and cashlessly.
But while digitalization has flourished in the consumer payment area, innovation in business-to-business (B2B) payments has somewhat lagged behind, felling to witness the same momentum.
Aiming to tap into opportunity and get a bigger share of the US$125 trillion global B2B payment market, some of the world’s largest payment firms are ramping up efforts to deliver new and innovative products for faster, more efficient and more secure business transactions.




   



    
   


   








Visa pushes for B2B payment network expansion
Visa has announced a series of partnerships over the past year focusing on enhancing its B2B payment offering and expanding the reach of its B2B payment network. Just this month, the company unveiled a partnership with Swift to improve connectivity between their respective networks and provide financial institutions on both networks with more routing options for their business customers as well as real-time status and updates.
As part of the collaboration, payments going through Visa B2B Connect, the company’s payment network for bank-to-bank cross-border business transactions, will be able to have upfront checks using Swift Payment Pre-Validation. Additionally, the two networks will work together to increase end-to-end transaction visibility by using high-speed Swift GPI capabilities and tracking data.
Swift GPI, which stands for global payment innovation, is a service offered by Swift to make international payments faster and to be able to track their status in real time, from the moment the funds are sent to when they arrive. The service also allows users to get a breakdown of the fees that are collected by the intermediary banks.
Swift GPI was launched in 2017 and has since been adopted by more than 4,200 banks and 60 market infrastructures.
Besides its partnership and integration with Swift GPI, Visa is actively working on expanding its Visa B2B Connect network, adding the likes of CB International Bank, a US-based commercial bank, Freedom Finance Bank Kazakhstan, Krungthai Bank from Thailand, Bank Muamalat from Malaysia, and German software company SAP into its list of partners.
Launched in 2019, Visa B2B Connect is a platform developed by Visa to facilitate cross-border B2B payments. It leverages innovative technologies, including elements of blockchain, to simplify the traditionally complex and time-consuming process of international B2B transactions, and aims to provide businesses with a fast, secure, and transparent way to process corporate cross-border payments.
Visa CEO Ryan McInerney said on the company’s Q2 2023 earnings call that roughly 30 banks across 20 countries have so far signed to Visa B2B Connect, with payments routed to 90 countries globally.
Mastercard expands its B2B payment offering
Mastercard, meanwhile, has been focusing on enhancing its business payment offering. Last year, it launched Instant Pay, a virtual card solution for instant B2B payments integrated with its B2B payment product, the Mastercard Track Business Payment Service. In 2023, the firm introduced Mastercard Receivables Manager, a new solution that streamlines the way businesses accept and process virtual card payments, and which helps them with invoice reconciliation.
Mastercard has also onboarded a number of customers to its commercial network over the past year, including Canadian financial services provider BMO, American paytech company Priority Technology and payment specialist Transcard.
Mastercard’s key B2B payment proposition is the Mastercard Track Business Payment Service, a global open-loop commercial network that’s designed to simplify and automate the exchange of payment information between suppliers and buyers. The service is a specific component of the broader Mastercard Track global trade platform which the firm launched in 2018 to simplify the complex and fragmented global trade ecosystem by providing a centralized framework for business interactions.
AmEx pursues business payment network ambition
American Express (AmEx) is the latest major card payment network to be developing its own B2B payment network. The company is building up a suite of B2B capabilities for both buyers and suppliers through new product development, mergers and acquisitions (M&amp;A) deals, and partnerships.
Most recently, it announced plans to acquire Israeli B2B payment automation company Nipendo. Nipendo’s platform allows businesses to easily connect, communicate, and automate procure-to-pay processes, including accounts payable and receivable, and works alongside a company’s existing systems. AmEx intends to integrate Nipendo’s team, technology, and capabilities to expand its differentiated offerings for businesses.
The deal followed the launch of Amex Business Link in December 2022, a B2B solution for American Express’ network participants; partnerships with accounts receivable players BillTrust and Versapay; as well as the acquisition of Acompay, a digital payment automation solution for accounts payable departments, in 2019.
The rise of digital payments
The B2B payments landscape has been undergoing significant changes, driven by technological advancements, evolving business needs, and regulatory shifts. Payment methods are evolving and while traditional methods such as cash, checks and wire transfers, still hold a significant share in many regions, digital methods are gaining traction.
Mastercard reported observing a shift to digital B2B payments since COVID-19 and said that small businesses are increasingly adopting digital tools to modernize business payments, including payment collection and electronic invoicing.
Real-time payments, which run on dedicated networks that enable electronic payments to be processed in real time, 24 hours a day, 365 days a year, are projected to divert as much as US$37.0 trillion in B2B payments away from checks and regular automated clearing house (ACH) payments in the US by 2028, consulting firm Deloitte estimates.
Expected shift in B2B payments from ACH and checks to real-time payment rails, 2024-2028, Source: Deloitte, Jul 2023

Featured image credit: Edited from freepik

]]></description><link>https://fintechnews.eu/payment-incumbents-ramp-up-b2b-payment-innovation-efforts</link><guid>3347</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Payment Incumbents Ramp up B2B Payment Innovation Efforts</dc:text></item><item><title>SAP Fioneer Launches ESG Software to Help Financial Institutions Mitigate Growing Regulatory Risks</title><description><![CDATA[SAP Fioneer has launched its first software solution for ESG data orchestration and calculation for portfolio and single exposure KPI. The solution not only plugs the data gap banks and insurers need to remain ESG compliant, but also enables them to leverage the pertinent business potential.
The Fioneer ESG KPI Engine software solution to provide full visibility into ESG-related portfolio data, enabling financial institutions to make sustainable, cross-departmental decisions based on reliable insights. By revealing real-time financed and insurance related CO2e emissions, financial institutions can seize transition opportunities and avoid greenwashing, bolstering transparency and accountability.
Maria Patschke
Maria Patschke, CEO of SAP Fioneer ESG Solutions:




   



    
   


   








“Banks and insurance companies are the biggest source of capital, so it’s of little surprise that their ESG regulatory obligations are increasingly under the spotlight. With over USD 90 trillion in Financed Emissions assets that are disclosed under PCAF, financial institutions naturally want to avoid the reputational risk of greenwashing – but the lack of (useable) data to analyze their portfolios is a huge concern for many, until now.”
The Fioneer ESG KPI Engine covers all asset classes and markets, no matter if the data can be sourced or not. The new software saves financial institutions cost and time by offering clear calculations and simplified data presentation, as well as ending the need for employees to spend hour after hour uploading data manually on spreadsheets. The Fioneer ESG KPI Engine brings standardization, auditability and is updated in real-time to react to new regulations automatically, freeing up employees to spend more time analyzing the data and finding new business opportunities and creating a more sustainable portfolio.
“We believe our solution represents a pivotal step towards a greener, more sustainable financial industry. By equipping financial institutions with the tools they need to navigate the complexities of ESG regulations on portfolios, loans and investments, we envision a future in which transparency and sustainability drive business decisions,”
adds Maria Patschke.
Compliant with TCFD, CSRD, EU Taxonomy, and real-time updates, the solution ensures full adherence to evolving regulations. Securing 2023 reporting, the solution provides data historization, auditability and compliance.
Due to its architecture-agnostic approach, the Fioneer ESG KPI Engine can be implemented in any existing financial institution infrastructure. Closing data gaps with the PCAF framework, the solution calculates values consistently, independent of data availability.
The Fioneer ESG Engine is available on-premise, in a private cloud instance or can be hosted in a public cloud.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/sap-fioneer-launches-esg-software-to-help-financial-institutions-mitigate-growing-regulatory-risks</link><guid>3346</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>SAP Fioneer Launches ESG Software to Help Financial Institutions Mitigate Growing Regulatory Risks</dc:text></item><item><title>Microsoft Deepens Partnership with Finastra to Help Banks Modernize Trade</title><description><![CDATA[Financial services software and cloud solutions provider Finastra have entered into a multi-year global agreement with Microsoft for trade platform modernization.
Powered by a full microservices architecture using Microsoft Azure, the Finastra Trade Innovation platform in cloud will enhance banks’ agility, flexibility, and scalability.
Expanding the open APIs offered through Trade Innovation and Finastra’s open innovation platform, FusionFabric.cloud, will enable customers to tap into a vibrant digital trade ecosystem, promoting the digitalisation of the entire transaction process.




   



    
   


   








As the expectations of corporate customers evolve, financial institutions need to deliver a seamless and engaging transactional experience across their trade finance and supply chain finance operations in support of open finance.
Isabel Fernandez
Isabel Fernandez, Executive Vice President for Lending at Finastra said,
“Customers are eager to transform their trade finance and supply chain offerings, and to access the latest innovations, working with partners across the ecosystem.

Via this agreement, existing and new customers will benefit from increased flexibility to connect, collaborate and adapt to evolving customer needs and new regulations.”
Bill Borden
Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft added,
“We’re excited to deepen our relationship with Finastra to support banks on their trade modernization journey.

Using the rich functionality of Finastra’s Trade Innovation platform and FusionFabric.cloud, combined with the power of Microsoft Azure and data and AI advancements, we look forward to helping financial institutions further accelerate innovation, increase efficiencies, enhance customer engagement and transform their operations at scale.”

Featured image credit: Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft and Isabel Fernandez, Executive Vice President for Lending at Finastra
]]></description><link>https://fintechnews.eu/microsoft-deepens-partnership-with-finastra-to-help-banks-modernize-trade</link><guid>3345</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Microsoft Deepens Partnership with Finastra to Help Banks Modernize Trade</dc:text></item><item><title>Mitigating the Risks of Digital Currencies</title><description><![CDATA[Digital currencies including cryptocurrencies, stablecoins and central bank digital currencies (CBDCs), have grown tremendously over the past years, attracting investors and financial services customers for their ability to hold and transfer value without needing a central authority to validate and process transactions.
As innovation in the financial services sector accelerates and as adoption of digital assets continues to rise, financial institutions need to adapt and offer asset-specific offerings, capabilities, and safeguards for digital currencies, similar to other asset classes, a new report by the Boston Consulting Group (BCG) says.
But in order to fully take advantage of this opportunity, financial institutions must understand the risks associated with digital currencies and implement the right tools to mitigate those risks.




   



    
   


   








In a new report, titled Managing Risk for the Next Wave of Digital Currencies and released in July 2023, the consulting firm outlines the risks that come with supporting and offering digital currencies, as well as the appropriate tools and methods to mitigate them.
Risks associated with digital currencies
BCG outlines seven main risks relating to digital currencies. The first risk involves price volatility and the risks of speculative bubbles and market-driven price crashes. Even stablecoins, which are tied to fiat-currency values and backed by collateral, can be volatile, especially when the collateral is inadequate, insufficient or algorithmic, the report says. Unlike the traditional financial market, the digital currency market lacks the controls that traditionally protect participants from extreme volatility and from borderline-illegal market swings, such as pump-and-dump schemes.
The second risk relating to digital currencies are counterparty risks. Digital currencies are similar to non-transparent illiquid assets. Moreover, while they are decentralized in design, liquidity is channeled via a limited group, especially digital currency exchanges, which can be subjected to significant challenges, including poor internal controls and trading failures, sometimes leading to bankruptcy. If exchanges or digital currency holders default, a digital currency’s value can plummet quickly, the report warns. Such losses can cause widespread volatility, impacting other assets.
The third risk outlined is the risk of illicit-finance, fraud, price manipulation and deceptive activity. Practices like “rug pulls”, where a developer launches and hypes a cryptocurrency project to attract investment and then suddenly abandons the project and disappears with the funds, are similar to conventional pump-and-dump schemes and have become rampant. Because of the cross-jurisdictional nature of digital currencies, the market does not have the same level of protections and controls than those in the financial services industry, exposing clients to higher risks of fraud.
The fourth risk relates to security. Digital currencies, when not adequately secured, are prone to theft, loss, and cyberattacks. In 2022, a staggering US$3.8 billion was stolen from digital currency businesses, especially from decentralized finance (DeFi) protocols, according to blockchain analysis firm Chainalysis. Criminals may steal or deplete digital-currency holdings, and they may also capture private keys. If private keys, passwords, or wallets are stolen or lost, their value may be unrecoverable, the report warns. Unlike with other asset classes, banks have limited recourse to support customers. Most of them only provide custody to safeguard the key to the holdings.
The fifth risk outlined in the report is regulatory risk. Governments globally are actively developing new regulations for digital currencies. This constantly evolving regulatory landscape means that the cost of servicing digital currencies will continue to rise and that compliance experts must pay close attention to shifts in direction.
The sixth risk relating to digital currencies is operational risk. Digital currencies are inherently more complex than traditional value storage and transfer methods. With the exception of popular decentralized cryptocurrencies like Bitcoin, digital currencies are typically supported by founding companies with complex and somewhat opaque governance structures, such as decentralized autonomous organizations (DAOs). They may also involve novel technologies and behavioral patterns, which can make understanding value evolution and trade consequences challenging to some investors. Another operational risk is errors in smart contracts, which are automated agreements on the blockchain. A mistake in the drafting and coding of that contract could lead to unintended transactions and result in significant losses without recourse.
Finally, the seventh risk outlined in the report is reputation risk. Unlike fiat currencies, the stability of a digital currency isn’t tied to a country’s performance. Hence, various events, including a vendor’s sudden collapse, scams, Ponzi schemes and malware attacks, may cause reputational harm to the market, the report warns.
Seven categories of digital currency risks, Source: Managing Risk for the Next Wave of Digital Currencies, Boston Consulting Group, July 2023
Mitigating digital currency risks
To mitigate these risks, banks should put in place a comprehensive set of risk-mitigation strategies and measures, BCG says.
At the investment-level, banks should adopt blockchain intelligence capabilities to detect and mitigate illicit-finance and counterparty risks.
Some third-party vendors offer increasingly sophisticated artificial intelligence (AI)-based tools and analytic practices for monitoring digital currencies’ blockchain transactions, the firm says. These systems are capable of detecting patterns in transaction histories that are consistent with money laundering or illicit finance, and are often connected with law enforcement, regulators and compliance officers.
Banks should also conduct proper asset research, closely examining the business fundamentals of the digital currency and its sources, the financial health of the firm, its software and agreement architecture, its balance-sheet structure, provenance, and business model.
They should also thoroughly assess their vendor and partner relationships to make sure that these companies are reliable and trustworthy.
But above all, banks must continuously improve their functional capabilities, and align them with their digital currency strategy and risk appetite. As new aspects of digital currency technology appear, and as risk-mitigation techniques evolve, such as protocols, blockchain innovations, or software bridges, banks will need to experiment with them.
Financial institutions can also raise their capabilities by instituting company-wide guidelines that specify approved practices for digital-currency offerings, by developing appropriate communications and compliance policies, and by considering insurance lines.
Strategies for Mitigating Investment Risks, Source: Managing Risk for the Next Wave of Digital Currencies, Boston Consulting Group, July 2023

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/mitigating-the-risks-of-digital-currencies</link><guid>3343</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Mitigating the Risks of Digital Currencies</dc:text></item><item><title>Onfido Appoints New CTO</title><description><![CDATA[Onfido, the global leader in automated identity verification, announced the appointment of Daniel Keller as Chief Technology Officer.
Daniel brings over two decades of leadership experience to the company’s executive team alongside a track record of transforming and expanding tech-driven products and platforms on a global scale.
Daniel joins Onfido from Visable Group where, under his direction, the company transformed from a B2B directory provider to Europe’s leading B2B marketplace. As CTO, Keller led the innovation roadmap across product development, engineering, IT and business intelligence. He now brings this experience to Onfido to keep the company at the forefront of digital identity innovation and maintain the company’s growth trajectory.




   



    
   


   








His appointment comes as Onfido continues to secure industry recognition for its innovation in identity verification.
Daniel Keller
Commenting on his appointment, Daniel Keller said:
“The digital identity space has been building momentum over the last decade and is now set to take the world by storm. How we verify ourselves online is fundamental to digital experiences and Onfido is leading the markets, constantly innovating, delivering new AI and biometrics-based solutions to keep fraudsters at bay while enabling businesses to build long-term relationships with their customers. I look forward to supporting Onfido’s mission to simplify identity for everyone and help reshape verification in the online world.”
Over the last twenty years, Daniel has held executive positions at Scout24, Ciao!, Zanox (AWIN), Axel Springer, Hitfox (IONIQ Group) and was an engineering manager at Microsoft. He also has experience working with various startups, including Berlin-based Solarisbank, where he assisted with laying the groundwork for building its successful banking-as-a-platform product portfolio.
Mike Tuchen
Mike Tuchen, Chief Executive Officer of Onfido added:
“Daniel is a real asset to the executive team. His strength as a technical but strategic leader, who understands how to manage investments across a multi-product portfolio will be invaluable to Onfido as we continue to grow. His management ethos, where he puts his team first, fits perfectly into our culture, and there’s no doubt that he will flourish in his role.”

Featured image credit: Daniel Keller, Chief Technology Officer, Onfido
]]></description><link>https://fintechnews.eu/onfido-appoints-new-cto</link><guid>3344</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Onfido Appoints New CTO</dc:text></item><item><title>First Swiss Provider Offers ETF Saving and Trading for Kids and Teens</title><description><![CDATA[True Wealth is the first independent wealth manager to launch an ETF-based investment solution for children and young people.
The product extension is aimed at parents and relatives who want to make the benefits of long-term securities investment available to their children.
Launching the children’s portfolio
Felix Niederer
“After an extensive development and testing period, we are pleased to announce the birth of our newest baby: Portfolios for all children and young people up to the age of 17,”
says a delighted CEO Felix Niederer.




   



    
   


   








Parents can open a separate children’s portfolio for their offspring with an individual strategy and ETF as the building blocks of securities investment. The assets are held in a separate children’s account – in the child’s name.
The Truewealth company founders (Niederer and Herren) both family men, agree that there is a lot of catching up to do in terms of financial education in Switzerland and that a child portfolio can make an important contribution to closing this gap.
Long investment horizon
Anyone setting aside money for children should take their long investment horizon into account. With an investment horizon of up to 18 years, the advantages of a securities-based investment solution become particularly apparent: the longer the investment horizon, the more the relationship between risk and return shifts in favor of return when investing in the capital market.
It should also be borne in mind that although bank accounts offer an interest rate, this is almost always below the rate of inflation. For the long-term preservation of purchasing power, everyone should therefore consider making the advantages of ETF-based portfolio solutions available to their children as well.
Easy to get started
Existing True Wealth clients can open a separate portfolio for their child in their login area. However, True Wealth’s child portfolio can also be created without being a customer. The account must be opened by the legal representative, i.e. the mother or father.


Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/first-swiss-provider-offers-etf-saving-and-trading-for-kids-and-teens</link><guid>3342</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>First Swiss Provider Offers ETF Saving and Trading for Kids and Teens</dc:text></item><item><title>New McKinsey Study Reveals Rising Adoption of Generative AI Among Businesses</title><description><![CDATA[Despite the nascent public availability of generative artificial intelligence (AI), experimentation with the technology is already common and organizations are deploying tools leveraging generative AI at a fast pace, a new study conducted by McKinsey found.
McKinsey’s Global Survey on AI, which polled in April 2023 more than 1,600 participants at organizations from various industries, found that one-third of the businesses surveyed are already using generative AI regularly in at least one business function.
Results also show that AI is rising from being a niche topic relegated to tech employees to becoming a focal point for company leaders. Nearly one-quarter of surveyed C-suite executives indicated using generative AI tools for work, and more than one-quarter of companies already have generative AI discussions at the board level.




   



    
   


   








Moreover, because of advances in generative AI, companies are looking to commit more money into experimenting and deploying AI tools. 40% of respondents polled by McKinsey revealed that their organizations are planning to increase their AI investments.
Adoption of AI has more doubled over the past six years, data from McKinsey show, soaring from 20% in 2017 to 55% in 2023.
Use of generative AI across geographies and business functions
While the reported use of generative AI was found to be quite similar across seniority levels, it is highest among respondents working for North American organizations.
22% of respondents working at companies located in the region said they use generative AI regularly for both work and outside of work, a share that stands at 18% in Asia-Pacific, 14% in Europe and 10% in Greater China.
Reported exposure to generative AI tools across regions, % of respondents, Source: McKinsey Global Survey on AI, McKinsey and Company, Aug 2023
Across industries, usage of generative AI is the highest in the tech, media and telecom sector, with 19% of respondents working in the sector reporting using generative AI regularly for work and outside of work. Tech, media and telecom is followed by financial services as well as business, legal and professional services, both recording a 16% usage rate.
Reported exposure to generative AI tools across industries, % of respondents, Source: McKinsey Global Survey on AI, McKinsey and Company, Aug 2023
Looking at use cases, the study found that the most commonly reported business functions using generative AI is marketing and sales (14%), followed by product and service development (13%) and back-office support (10%).
Share of respondents reporting that their organization is regularly using generative AI in given function, %, Source: McKinsey Global Survey on AI, McKinsey and Company, Aug 2023
These results suggest that organizations are deploying the tech where they believe generative AI has the most potential. A previous McKinsey research revealed that these business functions, along with software engineering, could have the biggest impact, possibly delivering about 75% of the total annual value from generative AI use cases.
Impact of generative AI across business functions, Source: The economic potential of generative AI: The next productivity frontier, McKinsey and Company, July 2023
The rise of generative AI
Generative AI, a category of AI algorithms that are capable of generating new and realistic content based on the data they have been trained on, has been a hot topic within the business community ever since OpenAI’s ChatGPT went viral on November 30, 2022.
The AI chatbot, which has been praised for its versatility, intelligence, and ability to engage in human-like conversations, surpassed one million users in just five days, and in January 2023, it surged past the 100 million monthly active users mark, becoming the fastest-growing consumer app in history, according to analysts at Swiss bank UBS.
The rise of ChatGPT has sparked a frenzy in the tech community and prompted organizations from around the world to ramp up generative AI development as they race to capture its value.
McKinsey estimates that generative AI features stand to add up to US$4.4 trillion to the global economy annually. While the technology is expected to have an impact across all industry sectors, banking is projected to be among the sectors the most impacted.
Estimates by the consultancy show that the technology could potentially generate value from increased productivity of 2.8-4.7% of the industry’s annual revenues, translating to an additional US$200-340 billion in revenues annually.
Generative AI productivity impact by business functions, Source: McKinsey and Company, June 2023
Funding to generative AI startups has increased substantially over the past years and reached a new all-time high in 2023.
In the first six months of the year, funding to the space shot up more than fivefold compared to full-year 2022, totaling US$14.1 billion, data from market intelligence platform CB Insights show.
18 generative AI companies have already reached unicorn status, including Anthropic, Cohere and Adept, which all achieved the coveted status earlier this year.
Disclosed generative AI equity funding and deals, Source: CB Insights, July 2023

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/new-mckinsey-study-reveals-rising-adoption-of-generative-ai-among-businesses</link><guid>3341</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>New McKinsey Study Reveals Rising Adoption of Generative AI Among Businesses</dc:text></item><item><title>Sanitas Becomes First Swiss Health Insurer in the Metaverse</title><description><![CDATA[Health insurer Sanitas is launching an interactive Experience Space in the metaverse that enables visitors to experience the healthcare partner and learn about its products and services in a virtual realm.
With its presence in the metaverse, Sanitas has become the first health insurer in Switzerland to open its doors to interested users and allow them to experience the company and its products and services interactively. Topics that affect us all – health insurance, healthcare and well-being – will be brought into focus, with the emphasis on ensuring a playful, easy-to-understand approach.
The aim is to provide a tangible experience. Visitors will learn more about the different areas of activity, innovative services and products of Sanitas. Alva, the digital assistant who’s accompanied Sanitas users for many years, will welcome interested visitors into the metaverse and guide them around. On the ground floor, for example, an animated tree illustrates how much paper is saved annually through digital communication in the Sanitas Portal. Brainpower is called for in the area of nutrition, where the right foods have to be assigned to an oversized Swiss food pyramid. On the upper floor, meanwhile, avatars demonstrate easy-to-follow fitness exercises. In the outdoor meditation area, users can leave everyday stresses behind and experience pure relaxation.




   



    
   


   









The Experience Space was conceived together with Kuble, one of Switzerland’s leading digital, metaverse and web3 agencies, and given an innovative and futuristic design using spatial.io. Importance was placed on creating a consistent brand experience and expressing harmony with nature.
The Sanitas metaverse is open to all and available to enter now using VR glasses, desktop computer or mobile app. Currently, the Experience Space serves as a virtual home base for users to familiarise themselves with virtual reality and its underlying technology. In future, however, it will be possible to hold events or consultations in the Sanitas metaverse.
Andreas Schönenberger
“We’re very happy about our successful presence in the metaverse and, of course, we hope visitors are as happy with it as we are. The Experience Space proves once again that we, as an innovative healthcare partner, are boldly pioneering new solutions for our customers,”
says Sanitas CEO Dr Andreas Schönenberger.


Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/sanitas-becomes-first-swiss-health-insurer-in-the-metaverse</link><guid>3339</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Sanitas Becomes First Swiss Health Insurer in the Metaverse</dc:text></item><item><title>Instimatch Secures CHF 11.5 Million Pre-Series A Financing</title><description><![CDATA[Instimatch Global AG announced the successful raise of the Pre-Series A round in the amount of CHF 11.5 million. The financing round was led by existing shareholders, current management team members, business partners and new institutional and private investors.
Instimatch plans to utilize the newly raised capital to further expand market reach, accelerate product development, and launch new products to strengthen its position as a leader in the digital trading plaOorm space.
Adrian Edelmann
“This strong show of support from both existing and new investors underscores the confidence in our vision and future success and secures us enough 4me to prepare our Series A in 2024.”
said Adrian Edelmann, CEO of the company.




   



    
   


   








Instimatch Global AG has experienced tremendous growth in the current year, achieving significant milestones such as reaching 63 % customer growth, successful market entrance in four new countries, and the go-live of a repo trading platform, its latest self-developed product.
Peter Guntlin
“The funding round will bring the international reach of Ins4match Global to the next level – built on its scalable platform that can be tailored to local needs and run by a highly dedicated team of professionals.”,
said Peter Guntlin, a board member of the company.



Featured image credit: Adrian Edelmann, CEO of Instimatch AG and Hugh Macmillen, Chairman and Founder of Instimatch AG
]]></description><link>https://fintechnews.eu/instimatch-secures-chf-115-million-pre-series-a-financing</link><guid>3340</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Instimatch Secures CHF 11.5 Million Pre-Series A Financing</dc:text></item><item><title>Funding Overview Blockchain Germany 2023</title><description><![CDATA[The CV VC German Blockchain Report 2023 highlights Germany’s remarkable achievements in the blockchain sector, unveiling a 3% increase in blockchain funding and an all-time high share of global funding.
Covering data from Q3 2022 to Q2 2023, the report reveals that the German blockchain sector experienced an impressive 3% year-over-year increase in funding, totaling $355 million across 34 deals. In contrast, all continents saw YoY funding declines, with a 62% decline in funding and a 44% decrease in venture deals compared to the preceding four-quarter period.
The long-term trend of blockchain venture funding exhibited an upward trajectory: The German Blockchain Report 2023 presents its findings against the backdrop of a thorough and astute assessment of both sector-agnostic and blockchain funding from a global and European vantage point.




   



    
   


   








While centered on Germany, this report efficiently compiles comprehensive global data insights. Such as highlighting that the long-term trend of blockchain venture funding as a percentage of global sector-agnostic venture funding has exhibited an upward trajectory. This percentage of funding and deals has ascended from 2.1% and 3%, respectively, in 2018 to attain a peak of 6.7% and 7.2% in Q2 2022. However, there was subsequently a decrease, settling at 3.9% for funding and 5.2% for deals during the period from Q3 2022 to Q2 2023.

While the global landscape faced challenges over the past quarters, Europe reached a historic high in its share of global blockchain venture funding, surging to 26% from the 18% observed in the previous four-quarter period. Within Europe, Germany has taken center stage as a blockchain hero, highlighted by the following key findings from the CV VC German Blockchain Report 2023:

All-Time-High Share: Germany achieved a record-high share of global blockchain funding, underscoring its growing significance in the blockchain sector. It attracted 2.4% of global blockchain funding and 2.5% of global deals, marking a substantial increase from the previous year’s figures of 0.9% and 1.9%, respectively.
European Leadership: Germany secured 9.4% of European blockchain funding and 10.3% of all European blockchain deals. This reflects its leadership within the European blockchain ecosystem.
Focus on Blockchain: German blockchain venture funding accounted for 4% of German sector-agnostic funding and 5.5% of deals, signaling a growing focus on blockchain technology. Among Europe’s seven mega blockchain deals, one was in Germany, with Matter Labs, the creators of zkSync, securing an impressive $200 million in funding.
Majority early-stage investments: The report unveils that a substantial 72% of German blockchain investment is directed toward early-stage and seed rounds, indicating a thriving startup environment.


Impact on Established Industries: While leading German corporations like BMW, Siemens, and Zalando are already harnessing blockchain for products, services, and enhanced customer experiences, the report shows how blockchain’s influence extends to other traditional German business sectors such as energy &amp; sustainability, entertainment, and health. This shift signals a move towards digital and decentralized paradigms. Companies like Tradar (football player tokenization), Krowdz (creator economies), Greentrade (climate change mitigation), Vita DAO (health and age research), and Xylene (raw material supply monitoring) are pioneering these changes in incumbent industries.
Regional Hubs: Berlin continues to spearhead the blockchain industry in Germany, responsible for 61.8% of the total number of deals and a staggering 93% of the nation’s blockchain funding. Nevertheless, other regions such as Hamburg are emerging as blockchain innovation hubs.

Sector Highlights: Investors have pivoted toward DeFi and infrastructure projects, particularly those focusing on the use of blockchain in financial market modernization, as well as projects working on interoperability and data.
DeFi: (Decentralized Finance) took center stage, accounting for 32% of investments. Notable DeFi players who received funding were M^ZERO Labs, Li.Fi, and Unstoppable Finance.
Infrastructure and developer tools received 15% of investments, a substantial increase from the previous year’s 6%, indicating a solid commitment to fortify the blockchain ecosystem. Many of the newly funded projects here relate to infrastructure that bridges traditional to new, such as Februar and Spyce.5.
Identity &amp; Data: The CV VC German Blockchain Report highlights companies at the forefront of Germany’s blockchain expertise in identity and data verification. Players such as Certif-ID, Violet, Blockbrain, and Chain Patrol received funding in the past quarters. German actions in this area are not just for Web3 but for existing institutions and services.

The Report features insightful articles addressing key challenges, with contributions from esteemed figures such as Dr. Nina-Luisa Siedler of Möhrle Happ Luther, as well as teams from The Hashtag Association, BerChain, Berlin Partner, and other prominent voices in the field.
It exposes Germany’s unique edge, pointing to Europe’s evolving regulatory landscape under MiCAR, which prioritizes privacy and personal safety. This German framework is proving to be a magnet for blockchain and Web3 tech professionals and businesses. However, with the concurrent AI landscape evolving rapidly and Germany’s economy teetering on a recession, incumbent players recognize the need for investments to help its champions and, indeed, the German economy stay ahead of the competition.

]]></description><link>https://fintechnews.eu/funding-overview-blockchain-germany-2023</link><guid>3338</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Funding Overview Blockchain Germany 2023</dc:text></item><item><title>Deutsche Bank and Swiss Taurus Sign Global Digital Asset Partnership</title><description><![CDATA[Taurus , a Switzerland based digital asset technology provider, has signed a global partnership agreement with Deutsche Bank. 
As part of the collaboration, Deutsche Bank will integrate Taurus’ market-leading technology to establish digital asset custody and tokenization services.
Lamine Brahimi
“This partnership is the result of a thorough and detailed selection and due diligence process where Taurus was able to demonstrate the quality and breadth of its products and technology,”
said Taurus co-founder Lamine Brahimi.




   



    
   


   








“We are pleased to implement this global partnership with Deutsche Bank and look forward to supporting the bank in launching digital assets and DLT-based products and services across several booking centers.”
Founded in 2018, Taurus provides enterprise-grade digital asset infrastructure to issue, custody, and trade digital assets, such as cryptocurrencies, tokenized assets, NFTs, and digital currencies. As such, this partnership is a natural extension of recent Deutsche Bank’s digital asset focused initiatives.

Paul Maley
“As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike. As such, custodians must start adapting to support their clients,”
said Paul Maley, Global Head of Securities Services.
“This is why we are excited to partner with Taurus, a leading digital asset infrastructure provider  with a proven track record and extensive expertise in the crypto and tokenization space.”
Earlier this year, Deutsche Bank also participated in Taurus’ $65 million Series B funding round alongside Credit Suisse, Pictet Group, and Arab Bank Switzerland.

Featured image credit: Taurus co-founder Lamine Brahimi and Paul Maley, Global Head of Securities Services
]]></description><link>https://fintechnews.eu/deutsche-bank-and-swiss-taurus-sign-global-digital-asset-partnership</link><guid>3337</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Deutsche Bank and Swiss Taurus Sign Global Digital Asset Partnership</dc:text></item><item><title>4 New Swiss Fintech Startups to Follow in 2023</title><description><![CDATA[After a declining year 2021, the Swiss fintech sector bounced back up in 2022 with an increase of 14% in the number of active companies in the country, data from the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) show.
Results of a research study conducted by the IFZ show that the Swiss fintech sector grew considerably in 2022, rising from 384 active companies at the end of 2021 to 437 fintech companies a year later. The number represents a new all-time high.
Fintech funding activity in Switzerland also remained strong in 2022, registering a new record of CHF 605 million in funding raised by startups in the sector. The amount represents a year-over-year (YoY) increase of 36% and came in stark contrast to the downward trend observed in the global fintech funding landscape.




   



    
   


   








As the Swiss fintech sector continues to grow and mature, we look today at some of the hottest newcomers in the scene. These young startups were all founded in either 2022 or 2023 but have already gained notable traction and attracted investors’ interest.
Pier Wallet

Founded in 2022 and based in Zug, Pier Wallet is a non-custodial wallet and “the world’s first smart contract wallet-as-a-service (WaaS)”. The company, which was formerly known as Nobank, aims to address the issues and challenges relating to centralized crypto exchanges, providing a seamless gateway to Web3 while championing the principles of self-custody and security.
At its core, Pier Wallet embodies the ethos of decentralization. Users get a direct account on the blockchain, allowing transactions to be conducted without the need for intermediaries. The platform leverages smart contract technology to deliver an intuitive user experience, a feat that earned it an accolade from Best of Swiss App for outstanding usability and user experience.
Pier Wallet offers its services in two different models: first, through software development kits which allow businesses to integrate the wallet into their application; and through its fully managed white label offering.
Pier Wallet raised CHF 1 million in June 2022, and has so far received more than CHF 120k in grants and prize money since its inception, Startupticker reported last year.
Fume


Founded in 2023 and based in Lugano, Fume provides a fund management platform that aims to address the inefficiencies plaguing traditional fund management. The platform uses smart contracts to automate fund administration, increase transparency and remove intermediaries such as banks and brokers, paving the way for a smoother process and improved efficiency.
On Fume, fund managers can set up their digital fund in a fast and seamless manner. After defining the fund’s terms, including the fees, lock-up periods and eligible assets, the fund undergoes legal registration, culminating in an International Securities Identification Number (ISIN). Once the fund receives clearance, smart contracts are deployed and a customized web platform is set up, effectively marking the launch of the fund. The manager can then onboard investors and define portfolio allocations.
Fume operates under a software-as-a-service (SaaS) model, charging 5% of the fund’s fees which encompass performance, entry, exit, and management fees. The startup was selected in March 2023 for the 10th edition of the Tenity fintech incubation program.
Veax

Founded in 2022 and headquartered in Zug, Veax is a decentralized exchange (DEX) built on the Near Protocol. The platform aims to provide an extensive suite of traditional finance functionalities with an innovative DEX architecture, delivering features such as single-sided liquidity, concentrated liquidity, and multiple fee levels.
Veax, which launched its DEX platform on mainnet in April 2023, claims it has witnessed strong traction, registering 64k users access its platform so far, creating a total of 27k transactions and recording combined US$5 million worth of trading volume, the company claims.
In November 2022, Veax raised US$1.2 million in Pre-seed funding from a series of prominent investors including Circle Ventures, Proximity Labs, and Outlier Ventures, together with Tacans Labs, Qredo, Skynet Trading, Seier Capital, and Widjaja Family.
The company said at the time that it would use the proceeds to launch its platform, expand operations and expand its business reach.
Truzt

Founded in 2023 and based in St Gallen, Truzt is the developer of a digital insurance platform intended to provide cryptocurrency insurance services. The company’s platform insures and protects cryptocurrency and blockchain assets held at multiple centralized digital custody platforms, crypto exchanges, wallets, and banks, enabling investors to invest with peace of mind.
With Truzt, customers can insure up to US$50,000 worth of assets per exchange in cases of exchange failure, including hacks and bad administration. The service is fully regulated in Switzerland and is available in more than 50 countries, supporting over ten centralized crypto platforms, including Binance, Kraken and Coinbase.
Truzt is part of the 11th edition of the Tenity fintech incubation program.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/4-new-swiss-fintech-startups-to-follow-in-2023</link><guid>3336</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>4 New Swiss Fintech Startups to Follow in 2023</dc:text></item><item><title>Fintech Funding in Europe Stumbles 70% YoY</title><description><![CDATA[European fintech companies secured only EUR 4.6 billion in funding in H1 2023, down by a staggering 70% from the EUR 15.8 billion raised during the same period last year, a new report by European growth investor Finch Capital shows. The massive drop was mainly driven by a decreased number of mega rounds, a retreat in activity from American investors, and a return to investment fundamentals, the firm says.
The 8th Annual State of European Fintech Report 2023, released on September 12, 2023, delves into fintech funding activity in the region during the first half of the year, highlighting shrinking deal count and funding volume, as well as a pullback from corporate investors as the macroeconomic environment remained uncertain.
According to the report, deal count in H1 2023 totaled a mere 463, representing a 48% drop. During the period, the top 20 funding rounds in Europe made up a larger share of total deal volume at 60%, against 50% in 2021 and 2022. This implies that investors put a greater focus on backing more established fintech companies with solid operations and strong growth prospects.




   



    
   


   








Top 20 fintech funding rounds in Europe, Source: 8th Annual State of European Fintech Report 2023, Finch Capital, Sep 2023
Deal size of the top 20 deals in H1 2023 also decreased substantially, falling below the EUR 130 million range and pulling back to pre-2020 levels. This compares starkly to average deal sizes observed in 2021 and 2022, which surpassed EUR 250 million.
Average deal sizes for the top 20 fintech funding rounds, Source: 8th Annual State of European Fintech Report 2023, Finch Capital, Sep 2023
A closer look at key European markets reveals that the UK market stood out from the crowd and showed more resilience than some others countries by accounting for over 50% of fintech funding in Europe. That’s a larger share than in H1 2022 during which the country made up 45% of fintech funding in the region.
Another key finding of the Finch Capital analysis is the massive pullback from US-based investors in 2023. American investors have historically been rather active in the European fintech scene. In 2021, for example, three US-based firms were among the top five fintech investors in the UK. In H1 2023, however, no American firm made it into the list, the report notes.
Overall, the biggest and most active US investors in the European fintech industry committed far lesser capital to the region this year, investing less than a billion euros in the sector in H1 2023. In comparison, these venture capitalists (VCs), which include names such as Sequoia, Lightspeed, Coatue and Andreessen Horowitz, committed about EUR 9 billion in 2022 and a little less than EUR 7.5 billion in 2021.
Top US VC investors’ investments in European fintech companies, Source: 8th Annual State of European Fintech Report 2023, Finch Capital, Sep 2023
Sector wide, payments and neobanking took a big hit in the first half of the year and lost its position as the favored fintech segment.
While the sector has historically been a resilient category, registering record amounts of capital deployed in 2022, investments in the space pulled back significantly in H1 2023 as investors took caution to valuation inflation, the report notes.
Payments and neobanking was overtaken by crypto/blockchain and lending, which were the top fintech subsectors in deal count and deal volume, respectively.
Share of deal volume of each fintech segment, Source: 8th Annual State of European Fintech Report 2023, Finch Capital, Sep 2023
Funding across all tech sectors in Europe has declined over the past year, but fintech has by far been the hardest hit sector, data from Dealroom reveal.
In Q1 2023, fintech secured a mere US$2 billion (EUR 1.9 billion) in funding and lost its position as the most-funded tech sector in Europe. The sector was overtaken deeptech and climate tech, which secured US$2.9 billion (EUR 2.7 billion) and US$2.6 billion (EUR 2.4 billion), respectively, the data show.
Healthtech, meanwhile, which has been among the lesser well-funded tech sectors in Europe, was almost on a part with fintech, raising a total of US$1.9 billion (EUR 1.8 billion) in Q1 2023.
Top tech sectors in Europe by deal volume, Source: Sifted and Dealroom, Apr 2023
What lies ahead
Finch Capital warns that the European fintech market is now entering a period of contraction and that a laser focus will continue to be put on building profitable businesses at sustainable valuations.
This fight for profitability emerged in the past year as the industry suffered from 3,100 announced layoffs, the report notes. While fast-growing players, including Monzo, Adyen and Funding Circle, continued to hire new employees over the past year, bringing in more than 1,050 new staff, Finch Capital expects these firms to start laying off in the second half of 2023.
Employee growth at the top ten fastest-growing fintech companies in Europe, Source: 8th Annual State of European Fintech Report 2023, Finch Capital, Sep 2023
The firm also predicts that the shift from consumer fintech to business-to-business (B2B) fintech, which started in the last couple of years, will carry on in 2023 and onwards, with segments such as regtech and artificial intelligence (AI) projected to pick up steam.
Interest in regtech will increase as governments continue to launch new initiatives and as changes in legal frameworks complexify compliance for fintech companies, it says.
Generative AI, a subfield of AI focused on developing algorithms and models that are capable of generating new text, images, or other media in response to prompts, will continue to gain traction and witness increased adoption as fintech segments including retail banking and insurance embrace the technology, the firm says.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/fintech-funding-in-europe-stumbles-70-yoy</link><guid>3335</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Fintech Funding in Europe Stumbles 70% YoY</dc:text></item><item><title>Booming Cross-Border E-Commerce Activity in Asia Presents Opportunities for European Merchants</title><description><![CDATA[International e-commerce spending by JCB cardholders based in Asia increased by 52% between 2021 and 2022, presenting a significant opportunity for merchants in Europe as shoppers across the region show increasing willingness to purchase goods online from foreign businesses, a new paper by the Japanese credit card company shows.
The report, titled “Click into Place: Unpacking Card Abandonment”, provides insights on online spending from Asia, sharing the latest research and data on e-commerce trends to help businesses boost e-commerce sales and stand out from the crowd.
According to the report, cross-border e-commerce activity increased substantially last year, with India leading the region with a staggering five-fold growth, followed by Indonesia and Vietnam, where cross-border e-commerce more than doubled between 2021 and 2023. In Hong Kong and the Philippines, global e-commerce spending grew by around 80%, while China, Taiwan and Thailand saw growth of about 50%.




   



    
   


   








Further growth is expected in the future as the cart abandonment rate in Asia’s e-commerce industry is currently the highest in the world, standing at over 84% as of March 2023 compared with about 70% for customers globally.
High cart abandonment in Asia suggests that there is potential for more expansion in the region if merchants are able to solve customers’ friction points and improve experience, the report says.
image via freepik
Addressing cart abandonment
Cart abandonment is the act of a shopper adding an item to an online shopping cart but leaving the website without completing the purchase. It represents a significant amount of lost revenue for merchants in the online space.
According to JCB, there are several cause of cart abandonment, with the first common one being the payment journey. In Asia, complicated checkouts and unexpected payment processes are cited as a reason for abandoning carts, with 55% of online shoppers in the region identifying long login and sign-up forms as a key source of frustrated.
To address this paint point and boost sales, merchants must enhance customer experience by streamlining their checkout process with a well-designed website. They should also leverage advanced technology and design practices to balance security with user experience, using for example pre-fill information and tokenization to speed up the checkout process, as well as technology like 3DS authentication to increase consumer trust. Such improvements not only increase immediate sales and conversion rates but also foster long-term brand loyalty, the report says.
The second cause of cart abandonment outlined in the JCB report is unmet customer expectations around how they can pay, and how easy it is to do so.
Understanding customer psychology is vital to reduce cart abandonment in e-commerce, the report says. To cater to local preferences, merchants should offer multiple languages and payment currencies, provide a personalized customer journey, and ensure that payment processes are seamless across both mobile and desktop platforms.
This is critical become mobile purchases are on the rise, representing 43% of e-commerce sales globally in 2023. In Asia-Pacific (APAC), that share is even higher, with mobile commerce constituting 75.8% of sales in 2022.
Finally, the third and final cause of cart abandonment outlined in the report is the failure to react to external factors, such as market trends and changes in consumer behaviour.
During the COVID-19 pandemic, e-commerce surged, especially in Asia, due to increased internet and mobile device access, the report says. However, the global economic downturn has somewhat hindered e-commerce growth and altered customer behaviors.
This has led many consumers to start using online carts as a modern form of window shopping, adding items for future consideration or price comparisons. This behavior, which may lead to cart abandonment, is likely to rise with economic concerns and decreased impulse buying, it warns.
To counter this, merchants should offer competitive pricing and employ strategies like remarketing and non-intrusive exit-intent pop-ups. They should also bolster customer confidence with reviews and security guarantees.
image via Unsplash
Cross-border e-commerce on the rise
Over the past couple of years, cross-border e-commerce has witnessed significant growth, driven by the proliferation of the Internet and mobile devices, improved logistics, payment innovations and the rise of global e-commerce platforms such as Amazon, Alibaba and eBay.
With disposable income rising in developing markets, e-commerce merchants and marketplaces will continue pivoting towards them, pushing cross-border online shopping to new heights.
According to Juniper Research, cross-border e-commerce transaction values will reach US$1.6 trillion this year. Through 2028, that number is projected to grow by more than twofold to US$3.4 trillion.
In comparison, domestic e-commerce transaction values are set to grow by 48% over the same period, implying that much of the growth in the e-commerce payments market will in the cross-border area.
In 2022, around 168 million Chinese customers had engaged in cross-border import e-commerce, growing from 155 million the previous year, data from market research and analytics platform Statista show. The trade value of cross-border import business reached approximately 34 trillion yuan (US$4.6 billion) that year.
In Southeast Asia, about a quarter (23%) of consumers said they are shopping more at merchants based in other countries in the region since the start of the pandemic, while a similar number (22%) are shopping more in stores outside of Southeast Asia, a 2021 study by ACI Worldwide and YouGov reveals.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/booming-cross-border-e-commerce-activity-in-asia-presents-opportunities-for-european-merchants</link><guid>3334</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>Booming Cross-Border E-Commerce Activity in Asia Presents Opportunities for European Merchants</dc:text></item><item><title>PayPal Partners with Meta to Enable Donations on Facebook and Instagram</title><description><![CDATA[Paypal announced that PayPal Giving Fund is expanding its partnership with Meta to exclusively enable charitable giving on Facebook and Instagram in the US, UK, Australia and Canada.
As an IRS-registered charity, PayPal Giving Fund’s mission is to support charities by enabling them to benefit from new forms of giving. Charities will be able to raise money through fundraisers and donation buttons on Facebook and Instagram, and donations will be received by PayPal Giving Fund and granted to benefiting charities in accordance with its policies.
PayPal Giving Fund’s partnership with Meta makes it easier for donors to support their favorite causes online. Online charitable giving continues to rise in popularity, especially among younger consumers. Giving USA’s recent Giving By Generation report found that 81% of Millennials and 76% of Gen Z donors surveyed make donations online or through mobile services, which makes this partnership a natural fit.




   



    
   


   








PayPal Giving Fund previously received donations and granted donated funds to benefiting charities on Facebook in Australia, Canada and the UK. Today’s announcement builds on its existing partnership with Meta by expanding to enable donations on Instagram with PayPal Giving Fund for these markets and enabling all charitable giving on Facebook and Instagram in the US market.
The fund helps people support their favorite charities online with over one million available charities. PayPal Giving Fund receives donations from donors on PayPal and on the platforms of trusted partners, such as Meta, and makes grants to donors’ recommended charities.
Charities enrolled in PayPal Giving Fund will be able to receive donations made on Facebook and Instagram more quickly and get additional exposure to millions of donors through the PayPal website and app as well as through other PayPal Giving Fund partners. PayPal Giving Fund will also provide donation activity reports to enrolled charities and issue donation receipts to all donors.
Starting Oct. 31, PayPal Giving Fund will exclusively enable charitable giving on Facebook and Instagram in the US, UK, Australia and Canada.

[embedded content] 
This article first appeared on fintechnews.am

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/paypal-partners-with-meta-to-enable-donations-on-facebook-and-instagram</link><guid>3333</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x81825</dc:content ><dc:text>PayPal Partners with Meta to Enable Donations on Facebook and Instagram</dc:text></item><item><title>Fintech Among Thoma Bravo’s Top Acquisition and Investment Focus</title><description><![CDATA[The bear market of 2022 saw stock prices and valuations nosedive, offering plenty of opportunities for investors with a long-term focus to acquire assets or other companies at a discount.
Thoma Bravo, a private equity investor specializing in software technology, took advantage of these market conditions, scooping up strong companies at a reduced price. According to an analysis by American private financial and investing advice company, the Motley Fool, two notable themes in Thoma Bravo’s investments last year were fintech and cybersecurity.
Thoma Bravo has been relying on a “buy and build” strategy, the report notes, focusing primarily on companies that are solid but which are not yet category leaders, as well as businesses that are deficient in some area of their financial performance.




   



    
   


   








With interest rates on the rise and the prolonged bear market, tech businesses lacking in profitability or exhibiting slow growth struggled to secure funding on favorable terms, putting heighten financial burden on them.
Capitalizing on these circumstances, the firm made a series of fintech acquisitions in 2022, purchasing the likes of Anaplan, an American business planning software company; Bottomline, a provider of collaborative payment, invoice, and document automation solutions to corporations, financial institutions, and banks worldwide; Coupa, a business spend management specialist; and Mercell, a Norwegian provider of e-tendering and procurement systems. Recently Thomas Bravo also completed the acquisition of digital identity giant Forgerock
Thoma Bravo also invested in numerous fintech startups including FalconX, a cryptocurrency-as-a-service platform for banks and financial institutions; Personetics, a customer engagement platform for banks and financial institutions powered by artificial intelligence (AI); SMA Technologies, a task automation platform for financial institutions; and TRM Labs, a blockchain intelligence company that helps governments and crypto-related businesses investigate fraud.
Digitalization in the financial sector
Thoma Bravo’s strong focus on the fintech industry, and most particularly companies developing software and tools meant for banks and financial institutions, comes at a time when the traditional financial industry is experiencing a transformative digitalization wave.
In Europe, nearly all significant institutions have a digital transformation strategy in place, with most of their projects focusing on attracting and retaining market share, as well as achieving efficiency gains, a 2022 study by the European Central Bank’s Banking Supervision found.
The study, which polled banks across the bloc, found that 43% of these financial institutions’ top-five projects are aimed at revenue/customer experience enhancement.
Objectives of key digital projects, Source: Take-aways from the horizontal assessment of the survey on digital transformation and the use of fintech, European Central Bank Banking Supervision, Feb 2023
Application programming interfaces (APIs) and cloud computing were found to be the most commonly used technologies across banks. Cloud computing is perceived as the foundation for digital transformation.
Artificial intelligence (AI) is also used by most banks in the region with increasing business relevance. 60% of respondents indicated using AI with more use cases in development.
Distributed ledger technology, on the other hand, is only used by a very limited number of banks (less than 20%), with cryptocurrency-related activities and related exposures being very insignificant so far.
Adoption rates of innovative technologies, Source: Take-aways from the horizontal assessment of the survey on digital transformation and the use of fintech, European Central Bank Banking Supervision, Feb 2023
The survey also found that although most banks did not yet have a dedicated digital transformation budget, on average, one fifth of the IT budget was spent on digitalisation.
Digital transformation budget as percentage of operating income, Source: Take-aways from the horizontal assessment of the survey on digital transformation and the use of fintech, European Central Bank Banking Supervision, Feb 2023
Thoma Bravo is a leading private equity investment firm and one of the largest software investors in the world. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors.
Over the past 20 years, Thoma Bravo has acquired or invested in more than 440 companies representing over US$250 billion in enterprise value. As of March 31, 2023, the firm had more than US$127 billion in assets under management, boasting a software portfolio of over 75 companies that generate more than US$26 billion of annual revenue.
According to its website, Thoma Bravo currently has 12 fintech companies in its portfolio. These companies include Adenza, a company that provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms; Figment, a blockchain infrastructure and software provider; Greenphire, a clinical trial financial process automation specialist; and Solifi, an open finance startup.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/fintech-among-thoma-bravos-top-acquisition-and-investment-focus</link><guid>3332</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>Fintech Among Thoma Bravo’s Top Acquisition and Investment Focus</dc:text></item><item><title>Innovation Park Ost erhält CHF 1.55 Mio Kapitalerhöhung, Appenzeller KB beteiligt sich</title><description><![CDATA[Zu den bisherigen 21 Gründungsaktionären der Switzerland Innovation Park Ost AG stossen nun weitere 9 Aktionäre der Region Ostschweiz und bringen in Summe zusätzliches Kapital in Höhe von 1.55 Mio CHF ein. Damit erreicht der Innovationspark einen weiteren Meilenstein seines Aufbauprogrammes und gewinnt zusätzliche Mittel für wichtige Investitionen.
Unter dem Motto «Connecting Great Minds» will der SIP Ost die Zusammenarbeit zwischen Ostschweizer Unternehmen und den hier ansässigen Forschungsinstitutionen Empa, Universität St. Gallen, Fachhochschule OST, Kantonsspital St. Gallen und RhySearch stärken. Im Zentrum stehen dabei die Themenschwerpunkte Gesundheit, Digitalisierung und Sensorik.
Durch Informationsveranstaltungen und Workshops soll der Know-how-Transfer und die wirtschaftliche Umsetzung von Forschungswissen beschleunigt werden. Dies stärkt die Innovationskraft der beteiligten Unternehmen und damit den Wirtschaftsstandort Ostschweiz und Fürstentum Liechtenstein.




   



    
   


   








Neue Aktionäre, Appenzeller KB mit dabei
Die neuen Aktionäre des SIP Ost sind die Appenzeller Kantonalbank, die Cavera AG, die Hälg &amp; Co. AG, die Metrohm Stiftung, die Fachhochschule OST, die St.Gallisch-Appenzellische Kraftwerke AG, die Thurgauer Kantonalbank sowie die Privatpersonen Martin Fengler (Gründer Meteomatics) und Roger Dudler (Gründer Frontify).
Einige der neuen Aktionäre planen in Zukunft mit dem Innovationspark eng zusammenzuarbeiten und stärken so nicht nur die Kapitalbasis, sondern auch das wachsende Ökosystem von Forschungspartnern und innovativen Unternehmen.
Roland Ledergerber
Roland Ledergerber, Verwaltungsratspräsident des SIP Ost freut sich über die erfolgreiche Kapitalerhöhung:
«Ich möchte unsere neuen Aktionäre ganz herzlich begrüssen und ihnen für das Vertrauen in unser noch junges Aufbauprojekt danken! Hinter jedem einzelnen Beitrag steht eine eigene Verbindung zum Thema Innovation. Als besondere Wertschätzung empfinden wir auch das Engagement der beiden Jungunternehmer Martin Fengler und Roger Dudler, die von Startfeld unterstützt wurden und seit langem mit unserem Team zusammenarbeiten.»
Kapital für Investitionen
Der SIP Ost arbeitet am Aufbau von Leuchtturmprojekten, die eine Anziehungswirkung ausstrahlen und Innovation fördern sollen. Dazu gehören der Health Innovation Hub, Sensor Innovation Hub und der Business Innovation Hub. Diese Innovation Hubs werden ein Veranstaltungs- und Workshop-Programm sowie ein Erlebnislabor mit neuen innovativen Produkten enthalten. Ein weiteres im Aufbau befindliches Leuchtturmprojekt ist die «SIP Ost Knowledge Database».
Mit Hilfe generativer künstlicher Intelligenz werden öffentlich zugängliche Informationen kontinuierlich gesichtet und semantisch analysiert. Ein besonderer Vorteil dieses Ansatzes ist die Möglichkeit, ähnlich wie bei ChatGPT, spezifische Kompetenzen von Unternehmen und Institutionen zu identifizieren, auch wenn diese in der Kommunikation nicht explizit genannt werden.
Solche Leuchtturmprojekte erfordern Investitionen in Geräte und Infrastruktur sowie erheblichen Zeitaufwand für die Initiierung von Kooperationsprojekten. Zur Finanzierung solcher Vorhaben war bereits bei der Gründung der Gesellschaft in 2021 die jetzige Kapitalerhöhung auf CHF 5.0 Mio. beschlossen worden. Das Zeichnungsziel von CHF 1.55 Mio. wurde deutlich übertroffen.
]]></description><link>https://fintechnews.eu/innovation-park-ost-erhalt-chf-155-mio-kapitalerhohung-appenzeller-kb-beteiligt-sich</link><guid>3331</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>Innovation Park Ost erhält CHF 1.55 Mio Kapitalerhöhung, Appenzeller KB beteiligt sich</dc:text></item><item><title>The Top 10 Fintech Startups in Switzerland in 2023</title><description><![CDATA[Like last year 10 fintechs made the 13th edition of the TOP 100 Swiss Startup Awards organized by Venturelab.
The 2023 ranking features 100 Startups, Yokoy who made first overall place last year made it this year on 2nd place.
Of the 10 fintechs, 4 were repeats from the 2022 startup ranking and 6 were newcomers. – Ledgy (No 3 last year)– graduated to this year’s scale-up ranking.




   



    
   


   








Meet the 10 Swiss fintechs that made the TOP 100 Swiss Startups 2023 list:

yokoy (2.Place) -1

The Swiss FinTech company Yokoy (formerly: Expense Robot) uses artificial intelligence to automate the entire corporate spend and corporate credit card process. Founded in 2019 by five founders to simplify expense management, Yokoy already has over 500 customers, including companies such as Stadler Rail, On Running, Bobst, Zühlke and BDO. In June 2021, Yokoy expanded its software offering, making the step from an expense tool to a comprehensive automation of the entire spend management and expanded further with an office in Munich.

relai (#24) +6

Relai is independently audited and with over 130 million CHF of bitcoin invested through its platform.

Unique AG (#31) new

Unique FinanceGPT is a tailored solution for the financial industry that aims to increase productivity by automating manual workload through AI and ChatGPT solutions. The platform records conversations and leverages state-of-the-art AI language models to provide client advisors with augmented assistance, coaching and useful analytics.

Grape Insurance AG (#35) new

grape is the first fully digital insurance company for companies and employees in Switzerland.
grape is a startup from ETH that has obtained its insurance license as an MGA and now offers employee insurance products for companies (KTG, UVG(Z), and BVG) in Switzerland. These insurances are bundled with a B2B SaaS product that saves the insured companies time managing their coverages and claims. Moreover, grape is the first insurer to directly reinvest into prevention services supporting the health of their customer’s employees through their benefits and paid therapy sessions.

Aktionariat AG (#40) new

Aktionariat creates a market for SME shares.

Sygnum Bank AG (#43) -23

Sygnum is a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks and other financial institutions to invest in the digital asset economy with complete trust.

Stableton (#50) new

Stableton is specializing in private markets. Institutional and qualified investors benefit from the sourcing of outstanding growth companies and the creation of unique top-tier investment opportunities with improved liquidity.

Relio (#54) new

Relio aims to offer digital business accounts for SMEs in Switzerland.

Mark Investment Holding AG (#66) new

Mark Investment helps to diversify the portfolio, like an expert.

Alpian SA (#71) -21

Alpian unifies everyday banking with accessible investment and private banking services.

]]></description><link>https://fintechnews.eu/the-top-10-fintech-startups-in-switzerland-in-2023</link><guid>3329</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>The Top 10 Fintech Startups in Switzerland in 2023</dc:text></item><item><title>The Top 5 Swiss Fintech Scale-up Startups in 2023</title><description><![CDATA[5  Fintech scale-ups made this year’s TOP 25 Swiss Scale-ups Awards organized by Venturelab.
The scale-ups ranking was created to recognize Swiss companies aged five to 10 years who are no longer eligible to compete in the TOP 100 Swiss Startup Award which is limited to startups under five years of incorporation.




   



    
   


   








Meet the fintechs on the TOP 25 Swiss Scale-ups 2023 list:
wefox Holding AG

wefox is a start-up based in Berlin, Zurich, and Barcelona. Founded in November 2014 in Switzerland, wefox combine many years’ experience in the insurance industry with the world of digital technology. With their app, they enable their clients to manage their finance products cleverly and efficiently. This is achieved by combining consulting expertise from the traditional insurance business with advanced technology.
Ledgy

Ledgy is an equity management platform that helps high-growth companies manage their cap table, employee participation plans, funding rounds, and investor relations.
Ledgy is used by leading companies such as Raisin, wefox, Frontify, Codility, Utopia, and many more to democratize startup equity by turning more than 6,000 employees into owners.
Wyden

Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Wyden has offices in Zurich, New York and Singapore.
Bitcoin Suisse

Founded in 2013, Bitcoin Suisse is a regulated Swiss financial intermediary, offering prime brokerage, trading, custody, lending, staking and other crypto-financial services for private and institutional clients.
The company has offices in Zug, Copenhagen, and Liechtenstein, and is undergoing licensing as a Swiss and Liechtenstein bank.
Pricehubble

PriceHubble is a Swiss B2B proptech company that builds innovative digital solutions for the real estate industry based on property valuations and market insights. Leveraging big data, cutting-edge analytics and great visualisation, PriceHubble’s products suite brings a new level of transparency in the market, enabling their customers to make real estate and investment decisions based on the most accurate data-driven insights and enhance the dialogue with end consumers.
]]></description><link>https://fintechnews.eu/the-top-5-swiss-fintech-scale-up-startups-in-2023</link><guid>3330</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>The Top 5 Swiss Fintech Scale-up Startups in 2023</dc:text></item><item><title>Die Besten Schweizer Digitalen Vermögensverwalter Apps 2023</title><description><![CDATA[Das Vergleichportal moneyland.ch hat die digitalen Vermögensverwalter in der Schweiz unter die Lupe genommen.
Im Vergleich zu traditionellen Vermögensverwaltern sind die meisten günstig. Zwischen den Anlage-Apps gibt es aber grosse Unterschiede.
In der Schweiz ticken die Uhren oft etwas langsamer. Das gilt auch für die Digitalisierung in der Vermögensverwaltung. Mittlerweile haben aber die digitalen Vermögensverwalter – manchmal Robo-Advisor genannt – auch in der Schweiz Fahrt aufgenommen.




   



    
   


   








Die von moneyland.ch befragten digitalen Vermögensverwalter gaben ein verwaltetes Vermögen von kumuliert rund 3.3 Milliarden Franken an, wobei einige keine Angaben machten. Insgesamt dürften in der Schweiz bereits deutlich über sechs Milliarden Franken an Vermögen von digitalen Anbietern verwaltet werden.
So hoch sind die Kosten
Im Durchschnitt bezahlen Kundinnen und Kunden bei einem Anlagebetrag von 25‘000 Franken Gesamtkosten von 252 Franken pro Jahr. Dies entspricht rund 1 Prozent des Anlagebetrags.
Bei digitalen Apps ohne Beratung fallen pro Jahr im Mittel Gesamtkosten von 0.92 Prozent an. Digitale Vermögensverwalter, die auch eine Anlageberatung anbieten, sind mit durchschnittlich 1.15 Prozent etwas teurer.
Die Gesamtkosten setzen sich im Wesentlichen aus Pauschalgebühren für die Vermögensverwaltung und Produktkosten (zum Beispiel von passiv gemanagten Fonds) zusammen. Die Pauschalgebühren betragen im Durchschnitt 0.69 Prozent, die Produktkosten 0.32 Prozent.
Damit sind digitale Vermögensverwalter deutlich günstiger als die traditionelle Vermögensverwaltung der Schweizer Banken.
Benjamin Manz
«Im Durchschnitt sind digitale Vermögensverwalter mehr als doppelt so günstig wie traditionelle Mandate»,
sagt Benjamin Manz, Geschäftsführer von moneyland.ch.
«Der deutliche Kostenvorteil spricht langfristig für die digitale Vermögensverwaltung.»
Das sind die günstigsten Anbieter ohne Anlageberatung
Am günstigsten schneiden in der Analyse Findependent mit jährlichen Gesamtkosten von 146 Franken und – praktisch gleich günstig – True Wealth mit 150 Franken pro Jahr ab. Knapp dahinter folgen Kaspar&amp; mit 178 Franken, Swissquote Invest Easy mit 203 Franken, Clevercircles mit 210 Franken und Cleverinvest mit 213 Franken (weitere Informationen in Tabelle 1).

Gesamtkosten bei einem Anlagebetrag von 25’000 Franken. Rundungsdifferenzen möglich. *Radicant: Bei Abschluss bis 31.1.2024 50% Rabatt auf die Pauschalgebühr. Kaspar&amp;: Konditionen ab 1.10.2023.
Das sind die günstigsten Anbieter mit Anlageberatung
Bei den Anlage-Apps mit Anlageberatung schneiden Selma Finance und Descartes Finances mit je 225 Franken pro Jahr am günstigsten ab. Knapp dahinter folgen Digifolio mit 258 Franken und Alpian mit 278 Franken.
Tabelle 2: Anlage-Apps mit Anlageberatung

Gesamtkosten bei einem Anlagebetrag von 25’000 Franken. Rundungsdifferenzen möglich.
Sinkende Pauschalgebühren bei Schweizer Robo Advisors
Bei vielen Anbietern sinken die Pauschalgebühren mit steigendem Anlagebetrag. Dazu gehören Alpian, Clevercircles, Findependent, Inyova, Kaspar&amp;, Postfinance, Radicant, Selma, True Wealth und Volt. Je nach Anlagebetrag sieht deshalb die Rangliste der günstigsten Anbieter etwas anders aus.
Beispiel: Bei einem Anlagebetrag in der Höhe von 500’000 Franken sind dies die günstigsten Anbieter: Findependent mit Gesamtkosten in der Höhe von 2643 Franken pro Jahr an, True Wealth mit 2950 Franken, Inyova mit 3000 Franken, Clevercircles mit 3200 Franken und Kaspar&amp; mit 3300 Franken. Bei Beträgen ab 810’000 Franken ist True Wealth am günstigsten.
Was sonst noch zählt
Neben den Gebühren gibt es natürlich noch weitere wichtige Entscheidungskriterien für die Wahl des richtigen digitalen Vermögensverwalters. Dazu gehören die Funktionen und Benutzerfreundlichkeit der App. Es lohnt sich daher, die Anbieter vor der Investition grösserer Summen auszuprobieren. Bei rund der Hälfte der Anbieter kann ein kostenloses Demokonto eröffnet werden.
Einige Apps bieten nachhaltiges Investieren an, das in Zukunft an Bedeutung gewinnen wird. Letztlich ist natürlich auch die Performance wichtig, die sich aber nicht im Voraus prognostizieren lässt. Eine Möglichkeit ist es, bei verschiedenen Apps mit kleineren Anlagesummen ein Konto zu eröffnen und sich nach einiger Zeit und mit der gesammelten Erfahrung für eine Favoritin zu entscheiden
]]></description><link>https://fintechnews.eu/die-besten-schweizer-digitalen-vermogensverwalter-apps-2023</link><guid>3328</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>Die Besten Schweizer Digitalen Vermögensverwalter Apps 2023</dc:text></item><item><title>Neues Proptech Startup Zinsli will Mietdepotmarkt transformieren</title><description><![CDATA[Zinsli ist ein neuer, unabhängiger Schweizer Marktplatz für Depotlösungen. Das Schweizer Proptech vernetzt Vermieter mit Depotanbietern und macht alle Prozesse rund um die Eröffnung und Schliessung von Mietdepots digital. 
Vermieter erhalten Zugang zu verschiedenen Depotösungen – von herkömmlichen Sperrkonten über Kautionsversicherungen bis hin zu renditestarken Anlagen – alles in einer einzigen App. 
Dank Zinsli wird Embedded Finance zur Realität für die Immobilienwelt in der Schweiz: Verwaltungen können die Finanzprodukte ganz ohne Medienbrüche vollständig in ihre Prozesse und im eigenen Branding integrieren. Dadurch profitieren alle Beteiligten von einem hochwertigen digitalen Nutzererlebnis und schnelleren Prozessen. Das neue Angebot steht Verwaltern seit Kurzem unter Zinsli.com zur Verfügung.




   



    
   


   








Zinsli schafft Ordnung im chaotischen Depotmarkt
Zinsli beantwortet die heutigen Herausforderungen des fragmentierten Immobilien- und Depotmarktes: Langsame branchenübergreifende und teil-analoge Prozesse haben ihren Zenit überschritten. Mit über 2,4 Mio privaten Mietverhältnissen, die in der Schweiz durchschnittlich alle sieben Jahre erneuert werden, verdient die Branche eine bessere und zukunftssichere Lösung fürs Mieterdepot. Darum gibt es Zinsli.
Die Plattform macht das Eröffnen und Auflösen von Mietzinsdepots zum einfachen Unterfangen:[embedded content]

Aber auch für die Mieter wird der Depot-Prozess besser. Mit nur wenigen Klicks können sie über einen Email-Link ihr Depot eröffnen:
So funktioniert’s
Zinsli verbindet alle Marktteilnehmer: Mieter, Anbieter von Sicherheits- und Depotlösungen, Finanzinstitute und Bewertschafter. Das geschieht mit einer flexiblen API-Architektur, die sich schnell und einfach komplett in bestehende Systeme integrieren lässt. Zinsli ist aber auch als moderne Webapplikation im Browser bedienbar.
Zudem ermöglicht Zinsli eine vollständig digitale Nutzerreise – von der Anmeldung zum Onboarding inklusive KYC (Know Your Customer) bis hin zur Kontoauflösung. Vermieter eröffnen und schliessen Depots mit nur einem Klick, während Zinsli sich um den Rest kümmert. Alle Beteiligten profitieren von erheblichen Prozessverbesserungen.
Marc van Nuffel
CEO Marc van Nuffel:
«Zinsli zeigt, wie ein fragmentiertes und unrentables Retailgeschäft durch Digitalisierung wieder profitabel wird.»
Was kommt nach traditionellen Sperrkonten?
Zinsli ist nicht nur ein Marktplatz, sondern auch ein Tor zu einer zukunftsorientierten, ökosystemfähigen Welt. Neben klassischen Sperrkonten ermöglicht Zinsli nämlich auch den Zugriff auf innovative und nachhaltige Anlageprodukte.
Diese haben im Gegensatz zu traditionellen Sperrkonten das Potential, die Geldentwertung durch Inflation zu verhindern, und ermöglichen eine Vermehrung des Kapitals. Das Angebot von Zinsli wird stetig erweitert – neue Depotlösungen kommen laufend hinzu. Doch die Kontrolle bleibt bei der Verwaltung, die bestimmt, welche Produkte dem Mieter zur Verfügung gestellt werden.
]]></description><link>https://fintechnews.eu/neues-proptech-startup-zinsli-will-mietdepotmarkt-transformieren</link><guid>3327</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x93691</dc:content ><dc:text>Neues Proptech Startup Zinsli will Mietdepotmarkt transformieren</dc:text></item><item><title>GenTwo Raises Series USD 15 Million Series A</title><description><![CDATA[GenTwo, a Swiss-based B2B Fintech platform specialized in securitization of bankable and non-bankable assets, announced today that it has raised a USD 15 million Series A led by USbased Point72 Ventures.
In conjunction with the investment, Pete Casella, Senior Partner and Co-Head of Fintech investments at Point72 Ventures, joins GenTwo’s board of directors.
Founded in 2018 in Zurich, GenTwo has built an financial engineering network centered around its proprietary GenTwo PRO platform. This allows investment professionals to quickly and easily securitize and bring to market any asset or investment strategy in the form of a bankable security.




   



    
   


   








With GenTwo, previously alternative and non-bankable assets such as real estate, fine art or digital assets – a global market estimated to be worth over USD 78 trillion – can be made easily accessible to all investors. The company‘s products address asset managers’ and their clients’ growing need for innovative financial products that offer new opportunities for diversification and active portfolio management.
To date, the company has served more than 250 clients in 26 countries to launch well over 1,200 investment products and has more than USD 3 billion under service.
Pete Casella
“At Point72 Ventures we like to back founders with bold ideas. GenTwo is a good example of what we are looking for, and we believe that the founders Patrick Loepfe and Philippe A. Naegeli are the right team to execute on their ideas,”
said Pete Casella, Senior Partner and Co-Head of Fintech investments at Point72 Ventures.
“We are excited to support the company on their mission towards expanding the investment universe for their clients.”
Patrick Loepfe
“We have always been a strongly technology-focused company and have worked hard to create what we believe is a unique securitization platform that offers clients unmatched simplicity, efficiency and costeffectiveness,”
said Patrick Loepfe, Co-Founder and Chairman of GenTwo.
“With its experience in not only fintech but also AI, Point72 Ventures is the perfect partner to help us do even more.”
GenTwo plans on using the funding to expand internationally and further develop the company’s financial engineering platform.

Featured image credit: Philippe A. Naegeli, CEO and Co-Founder of GenTwo.
]]></description><link>https://fintechnews.eu/gentwo-raises-series-usd-15-million-series-a</link><guid>3325</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>GenTwo Raises Series USD 15 Million Series A</dc:text></item><item><title>GenTwo Raises USD 15 Million Series A</title><description><![CDATA[GenTwo, a Swiss-based B2B Fintech platform specialized in securitization of bankable and non-bankable assets, announced today that it has raised a USD 15 million Series A led by USbased Point72 Ventures.
In conjunction with the investment, Pete Casella, Senior Partner and Co-Head of Fintech investments at Point72 Ventures, joins GenTwo’s board of directors.
Founded in 2018 in Zurich, GenTwo has built an financial engineering network centered around its proprietary GenTwo PRO platform. This allows investment professionals to quickly and easily securitize and bring to market any asset or investment strategy in the form of a bankable security.




   



    
   


   








With GenTwo, previously alternative and non-bankable assets such as real estate, fine art or digital assets – a global market estimated to be worth over USD 78 trillion – can be made easily accessible to all investors. The company‘s products address asset managers’ and their clients’ growing need for innovative financial products that offer new opportunities for diversification and active portfolio management.
To date, the company has served more than 250 clients in 26 countries to launch well over 1,200 investment products and has more than USD 3 billion under service.
Pete Casella
“At Point72 Ventures we like to back founders with bold ideas. GenTwo is a good example of what we are looking for, and we believe that the founders Patrick Loepfe and Philippe A. Naegeli are the right team to execute on their ideas,”
said Pete Casella, Senior Partner and Co-Head of Fintech investments at Point72 Ventures.
“We are excited to support the company on their mission towards expanding the investment universe for their clients.”
Patrick Loepfe
“We have always been a strongly technology-focused company and have worked hard to create what we believe is a unique securitization platform that offers clients unmatched simplicity, efficiency and costeffectiveness,”
said Patrick Loepfe, Co-Founder and Chairman of GenTwo.
“With its experience in not only fintech but also AI, Point72 Ventures is the perfect partner to help us do even more.”
GenTwo plans on using the funding to expand internationally and further develop the company’s financial engineering platform.

Featured image credit: Philippe A. Naegeli, CEO and Co-Founder of GenTwo.
]]></description><link>https://fintechnews.eu/gentwo-raises-usd-15-million-series-a</link><guid>3326</guid><author>Administrator</author><dc:content /><dc:text>GenTwo Raises USD 15 Million Series A</dc:text></item><item><title>Mastercard Study: Share of Financially Excluded Consumers in LatAm Cut in Half Since COVID-19</title><description><![CDATA[The number of cash-only consumers, or those without a financial account, has decreased substantially in Latin America (LatAm) over the past couple of years, plummeting from 45% in 2020 to only 21% in 2023, a new study by Mastercard and research firm Americas Market Intelligence (AMI) found.
The research, which is based on in-depth interviews with 25 financial service providers operating in LatAm and online surveys of 2,815 individuals within seven major markets in the region, found that most LatAm consumers gained access to basic financial products between 2020 and 2023.
Evolution of financial inclusion in Latin America, Source: The state of financial inclusion post COVID-19 in Latin America and the Caribbean: New opportunities for the payments ecosystem, Mastercard and Americas Market Intelligence, May 2023
Delving deeper into the types of products used, results show that at least 20% of LatAm respondents opened their first savings product during the pandemic, while more than four out of ten accessed products such as credit (45%) and investments (46%) for the first time because of COVID-19, a share that soars to 69% for cryptocurrencies.




   



    
   


   








These findings suggest that the digitalization rush triggered by the COVID-19 pandemic has boosted the adoption of financial services and subsequently accelerated financial inclusion.
First access to specific financial products (before, during, and after COVID-19), Source: The state of financial inclusion post COVID-19 in Latin America and the Caribbean: New opportunities for the payments ecosystem, Mastercard and Americas Market Intelligence, May 2023
Results also show that COVID-19-related social benefits programs helped bank more than 40 million people in Brazil, Colombia, and Argentina alone.
In 2023, 15% of respondents accessed their first savings/deposit account product and 9% accessed their first digital wallet thanks to government assistance during COVID-19. Brazil and El Salvador are the leaders in this respect, with 15% and 22% of respondents in these respective countries stating that they accessed virtual wallets for the first time as a result of a government subsidy or financial assistance during the pandemic.
Government-provided first access to financial services, Source: The state of financial inclusion post COVID-19 in Latin America and the Caribbean: New opportunities for the payments ecosystem, Mastercard and Americas Market Intelligence, May 2023
Despite clear improvement in financial access, results show that there is still a gap among Latin American individuals to achieve more advanced forms of financial inclusion. Only three out of ten LatAm consumers have access to loans, insurance or investment products, and 21% still do not have access to a financial account.
Disparities between various segments of the population are also a reality with only 59% of low-income respondents in the sample studied and 40% of those living outside of major cities owning a financial account, compared to the regional average of 79%.
Usage of cash on the decline
The survey’s results also reveal that usage of cash across LatAm is declining at a steady pace in favor of digital payments methods. Before COVID-19, 56% of respondents reported using cash for half or more of their expenses, a proportion that now stands at 43%.
Argentina, Brazil and Mexico, specifically, reported the most significant reduction in cash usage, which declined by 20%, 17% and 17%, respectively.
Cash usage before and after COVID-19, Source: The state of financial inclusion post COVID-19 in Latin America and the Caribbean: New opportunities for the payments ecosystem, Mastercard and Americas Market Intelligence, May 2023
With smartphone penetration reaching 80% across the region, mobile phones have become the new standard for conducting financial transactions, with 88% of respondents indicating using a cellphone to pay or make transactions.
Results from the survey show that peer-to-peer (P2P) payments are the main use of mobile phones in financial terms (81% to send and 70% to receive), followed by online shopping (69%) and payment for services (68%).
Mobile financial usage
Despite an uptake in mobile P2P transfers, some payment modalities still have room for growth. QR code payments, in particular, were found to be the least-used payment method at a regional level, with half of the population stating that they do not use them. Markets including Argentina and Brazil recorded the highest penetration rates, at 71% and 65%, respectively, owing to these two countries having enabled QR code interoperability, the report notes.
Results from the Mastercard/AMI study are consistent with other research studies and reports which argue that the proliferation technology and new fintech companies in LatAm have helped improve financial inclusion.
A 2023 paper by the International Monetary Fund states that fintech innovation is revolutionizing the traditional financial sector by simplifying access to financial services, noting that about three-quarters of LatAm digital banks’ customers are unbanked and underbanked consumers and small and medium-sized enterprises (SMEs) and that two-thirds of neobanks’ loans go to these demographics.
Among the report’s highlights, it notes that LatAm’s fintech industry is currently led by digital payments providers and neobanks, which serve 300 million and 30 million users, respectively.
In 2021, a quarter of fintech startups in the region focused on digital payments and remittances, making it the largest fintech segment in the region. Digital banks, which made up for just 5% of all LatAm fintech startups in 2021, witnessed nevertheless the fastest growth among fintech startups between 2017 and 2021 at 57%.
About 1,000 fintech companies were active in LatAm in April 2023, with 65% of these being based in either Brazil or Mexico, according to Flagship Advisory Partners, a fintech and payments consultancy firm.
Fintech startups in Latin America, Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023

This article first appeared on fintechnews.am

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/mastercard-study-share-of-financially-excluded-consumers-in-latam-cut-in-half-since-covid-19</link><guid>3324</guid><author>Administrator</author><dc:content >https://fintechnews.am/wp-content/uploads/2023/09/Evolution-of-financial-inclusion-in-Latin-America.png</dc:content ><dc:text>Mastercard Study: Share of Financially Excluded Consumers in LatAm Cut in Half Since COVID-19</dc:text></item><item><title>Swiss Startup Investor Map 2023</title><description><![CDATA[Arcton, a Zurich-based fintech startup, released the “Swiss Startup Investor Map 2023,” a visual guide featuring 116 organizations that provide investment access to Swiss startups. Arcton compiled the map after thoroughly analyzing over 200 Swiss-based entities.
The map showcases 116 organizations, each offering access to startup investments. The map includes a growing list of crowd-investing platforms, which enable investors to participate in startup funding with minimal capital.
According to a recent study by the Institute of Financial Services Zug (IFZ) at Lucerne University of Applied Sciences and Arts, crowd investments in startups soared to over 32 million Swiss Francs in 2022, marking a six-fold increase from 2021.i Despite this robust growth, the number of Swiss platforms remains limited.




   



    
   


   








Hence, the map also incorporates leading international platforms. Merens Derungs, CEO and co-founder of Arcton, explains the motivation behind the Swiss Startup Investor Map:

Hence, the map also incorporates leading international platforms. Merens Derungs, CEO and co-founder of Arcton, explains the motivation behind the Swiss Startup Investor Map:
Merens Derungs
“Switzerland has produced some extremely successful startups in recent years, including well-known names such as On Running or Wefox. However, Swiss investors still predominantly allocate their capital to startups abroad, often overlooking our thriving local ecosystem. With the ‘Swiss Startup Investor Map’, we want to show investors concisely how they can invest in local startups.”
]]></description><link>https://fintechnews.eu/swiss-startup-investor-map-2023</link><guid>3323</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Swiss Startup Investor Map 2023</dc:text></item><item><title>Schweizer Banken und Versicherungen setzen vermehrt auf Künstliche Intelligenz</title><description><![CDATA[Schweizer Finanzunternehmen setzen vermehrt auf Künstliche Intelligenz (KI) in verschiedenen Bereichen – insbesondere im Kundenkontakt. Auch generative KI ist trotz Datenschutzbedenken auf dem Vormarsch. Dies zeigt eine Studie der Hochschule Luzern in Zusammenarbeit mit Adnovum und Spitch.
Spätestens seit Anfang dieses Jahres konnten sich Begriffe wie KI oder ChatGPT auch im Sprachgebrauch der breiten Öffentlichkeit verankern. Für Schweizer Finanzunternehmen sind diese Begriffe aber nicht neu. Sie verfolgen die Entwicklungen dieser Technologien schon länger und diskutieren über deren Einsatz. Bei einer Umsetzung hingegen zögern viele noch. Die Hochschule Luzern (HSLU) hat in einer Studie untersucht, wie Schweizer Finanzunternehmen Chatbots, Voicebots und sogenannte «generative KI», welche selbst Inhalte kreiert, nutzen. Die Studie zeigt darüber hinaus, wo die grössten Hindernisse und Herausforderungen liegen.
Unternehmen setzen auf Chatbots und Voicebots für optimale Kundeninteraktion
Der Einsatz von Conversational AI, einem auf künstlicher Intelligenz basierenden Dialogsystem, hat sich in der Unternehmenswelt in Form von Chat- und Voicebots verbreitet. Die Hälfte der befragten Finanzunternehmen setzt diese Technologie bereits ein, 46 Prozent davon im Kundenservice, gefolgt vom Marketing (14 Prozent) und dem internen IT-Helpdesk (11 Prozent). Chatbots sind nach wie vor fest etabliert und werden von über 60 Prozent der Unternehmen erfolgreich eingesetzt. Voicebots gewinnen auch an Popularität und sind bei 14 Prozent der Unternehmen im Einsatz. Besonders bemerkenswert ist jedoch, dass fast ein Viertel der befragten Unternehmen (24 Prozent), sowohl Chatbots als auch Voicebots in ihre Kundeninteraktion integriert haben.




   



    
   


   








Sophie Hundertmark
“Finanzunternehmen verfolgen mit solchen Technologien grundsätzlich drei Ziele: bessere Kundenzufriedenheit, Kostensenkung und Effizienzsteigerung”,
sagt Studienautorin Sophie Hundertmark.
Allerdings zeigt die Studie auch, dass die meisten eingesetzten Bots derzeit regelbasiert arbeiten, d.h. nur Antworten auf vordefinierte Fragen geben. Diese Bots sind nicht in der Lage, die Unterhaltung automatisch an einen menschlichen Mitarbeitenden weiterzuleiten, wenn eine Frage nicht beantwortet werden kann. Die Kundschaft ist dann gezwungen, den Kontakt eigenständig über einen anderen Kanal zu suchen. Im Gegensatz dazu sind intelligente KI-basierte Bots flexibler und können Gespräche nahtlos an menschliche Mitarbeitende weiterleiten, was den Kundenservice erheblich verbessert.
Beantwortet KI künftig meine E-Mail-Anfrage?
Mehr mediale Aufmerksamkeit erhält seit diesem Jahr generative KI wie ChatGPT. Auch in vielen Büros findet die Technologie auf individueller Basis schon oft Anwendung. Kommerzielle Lösungen, die über das manuelle Prompten und Generieren von Inhalten hinausgehen, gibt es aber bisher nur wenige. «Die Technologie ist noch jung», so Hundertmark. Trotzdem haben Finanzunternehmen klare Vorstellungen für die Zukunft: Fast alle Unternehmen sehen die automatische Beantwortung von E-Mail-Anfragen von Kundinnen und Kunden (81 Prozent) oder den Einsatz in Chatbots (71 Prozent) als möglichen Anwendungsbereich von generativer KI (Abbildung 1). Auch Blogbeiträge oder Social-Media-Posts könnten zukünftig von generativer KI verfasst werden. Die Finanzunternehmen erhoffen sich wie auch bei den Chat- und Voicebots dadurch primär Produktivitätssteigerungen und Kosteneinsparungen. Gemäss Hundertmark dürften diese Ziele durch den Einsatz generativer KI deutlich einfacher zu erreichen sein.
Abbildung 1: Einsatzmöglichkeiten von generativer KI in Schweizer Finanzunternehmen (zum Vergrössern klicken)Die befragten Unternehmen sehen verschiedene Einsatzmöglichkeiten für generative KI in ihren Unternehmen. Die Beantwortung von E-Mails (81 Prozent) und den Einsatz als Chatbot (72 Prozent) sind die am häufigsten genannten Fälle. Beide betreffen den Einsatz im Kundendienst. Weiteres Potential sehen die Unternehmen im Bereich Marketing, sei es bei der Content-Generierung oder Marketingautomation.
Sorgen macht der Datenschutz
Ethische Bedenken spielen für die Finanzunternehmen eine untergeordnete Rolle. Vielmehr sind es Datenschutzbedenken, die eine bremsende Wirkung haben. Für 72 Prozent der befragten Unternehmen ist dies der grösste Hinderungsgrund, generative KI einzusetzen. Bei Banken sei dies im Vergleich zu Versicherungen noch stärker ausgeprägt. Es überrascht deshalb auch nicht, dass Banken beim Einsatz von generativer KI zurückhaltender sind als Versicherungen. Ein Grund dafür sind gemäss Co-Studienautor Florian Schreiber die unterschiedlichen Anliegen der Kundschaft: «Während man bei einer Versicherung eher einen Schaden meldet, erkundigt man sich bei der Bank auch nach dem Kontostand. Letzteres ist datenschutztechnisch heikler.» Erst im April hat mit Helvetia das erste Mal ein grosser Versicherer in der Schweiz den Einsatz von ChatGPT im Kundendienst verkündet. Das Projekt wird von der HSLU wissenschaftlich begleitet.
Co-Studienautor Prof. Dr. Nils Hafner ist sich sicher, dass Helvetia nicht das einzige Schweizer Finanzunternehmen bleiben wird, welches auf generative KI setzt.
«Um langfristig wettbewerbsfähig zu bleiben, werden Banken und Versicherungen zukünftig im Kundenservice, im Marketing oder Verkauf auf generative KI zurückgreifen, um Kosten zu sparen und Mitarbeitende zu entlasten»,
so Hafner.
]]></description><link>https://fintechnews.eu/schweizer-banken-und-versicherungen-setzen-vermehrt-auf-kunstliche-intelligenz</link><guid>3322</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Schweizer Banken und Versicherungen setzen vermehrt auf Künstliche Intelligenz</dc:text></item><item><title>Twint Starts with Pay Now Pay Later</title><description><![CDATA[In collaboration with Swissbilling (part of CembraPay), TWINT is gradually rolling out the new “Pay later” feature, which is set to make payments even more flexible. Users shopping with specific merchants can choose whether they want to pay immediately or in 30 days.
More than five million TWINT users already appreciate the various ways in which they can use the app in different everyday situations. Now, their shopping experience with TWINT will become even more flexible. Users shopping with specific merchants can choose whether they wish to pay immediately or in 30 days’ time. As already announced back in September 2022, TWINT is working together with Swissbilling (part of CembraPay), a subsidiary of Cembra that specialises in pay by invoice and billing solutions, to implement this feature.
The integration of the “Pay later” feature in the TWINT app is as seamless and intuitive as paying instantly. Users make their purchases in the online shop of their choice as usual and then select TWINT as the payment method. If a merchant offers the option of paying later with TWINT, users can easily select whether they want to pay now or within 30 days via a button at the checkout. This way, users can check the items they are purchasing before issuing the payment. The feature therefore has similar benefits to the traditional method of paying by invoice, but is integrated digitally in the shopping experience. Merchants thus offer a convenient payment method that meets the customer need for flexibility.




   



    
   


   








Paying later with TWINT offers transparency and clarity. Users can maintain a constant overview of past and outstanding payments via a portal that can be accessed via the TWINT app. They can also set up automated payments. Using this option, payments can be executed automatically with TWINT on their due date.
Markus Kilb
Markus Kilb, CEO of TWINT:
“With the launch of the new feature, we are meeting our overarching goal of making users’ lives a little easier each and every day. More than 75% of online and offline businesses in Switzerland already offer their customers a convenient shopping experience with TWINT. Working together with our partner Swissbilling, the shopping experience will now become even more flexible.”
Holger Laubenthal
Holger Laubenthal, CEO of Cembra:
“Our ambition is to harness new technology to provide consumers with user-friendly solutions. This is exactly what the ‘Pay later’ feature from TWINT and Swissbilling offers. In this way, we have reimagined the traditional invoice payment method, seamlessly embedded in our customers’ digital purchasing processes. We are delighted to enter the market together with our partner TWINT.”
]]></description><link>https://fintechnews.eu/twint-starts-with-pay-now-pay-later</link><guid>3321</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Twint Starts with Pay Now Pay Later</dc:text></item><item><title>Yuh’s Säule 3a ist nun Live</title><description><![CDATA[Wie bereits ende Juni angekündigt Startet die hippe digitale Banken App Yuh (Postfinance, Swissquote) mt einer Säule 3a Lösung. Diese ist nun live.
Yuh neue Säule 3a Lösung bietet fünf Anlagestrategien. Der Aktienanteil liegt dann, je nach gewählter Strategie, bei 20, 40, 60, 80 oder 98 Prozent. Der Rest geht in Anleihen, Immobilien, Rohstoffe und Liquiditäten. Die Pauschalgebühr liegt bei 0.5% und damit leicht höher wie bei den Konkurrenten Viac oder Frankly (ZKB).





   



    
   


   










Hinter Yuh’s 3a Lösung stehen Partner. Die Zürcher Kantonalbank steuert ihre Swisscanto Indexfonds bei. Die Investitionen werden sicher von der neu gegründeten Vorsorgestiftung Simply3a und der Lienhardt &amp; Partner Privatbank als Depotbank verwaltet. Das Zürcher Wealth-Tech Descartes kümmert sich ums Technische.


]]></description><link>https://fintechnews.eu/yuhs-saule-3a-ist-nun-live</link><guid>3318</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Yuh’s Säule 3a ist nun Live</dc:text></item><item><title>Hypothekarbank Lenzburg gliedert Open Banking Platform Finstar aus und sucht neuen CEO</title><description><![CDATA[Die Hypothekarbank Lenzburg gliedert ihr Kernbankensoftware-Geschäft der Open-Banking-Plattform Finstar in eine eigenständige Firma aus.
Open-Banking-Pionierin Marianne Wildi wird Verwaltungsratspräsidentin der neuen Gesellschaft und wird als CEO der Muttergesellschaft per März 2024 zurückzutreten.
Marianne Wildi, Künftige VR Präsidentin der Hypi
Zudem plant der Verwaltungsrat, in einer Sitzung im vierten Quartal dieses Jahres zu beschliessen, Marianne Wildi der Generalversammlung im März 2024 zur Wahl als neues Mitglied in den Verwaltungsrat der Hypothekarbank Lenzburg vorzuschlagen. Es ist weiter geplant, Marianne Wildi nach Ablauf einer aufsichtsrechtlich bedingten Übergangsfrist der Generalversammlung als Präsidentin des Verwaltungsrates der Hypothekarbank Lenzburg vorzuschlagen. Damit soll gewährleistet werden, dass der unter der Führung von Marianne Wildi eingeleitete Transformationsprozess der Bank auch längerfristig konsequent weiterverfolgt werden kann. Die Suche nach einem Nachfolger oder einer Nachfolgerin für die CEO-Position bei der Hypothekarbank Lenzburg ist gemäss Mitteilung eingeleitet.




   



    
   


   








In diesem Zusammenhang hat der Verwaltungsrat der Bank beschlossen, den Informatikbereich Finstar in eine eigenständige Aktiengesellschaft zu überführen. Geschäftsführer der Finstar AG wird Daniel Monras, der jetzige Leiter des Informatikbereichs der Hypothekarbank Lenzburg. Marianne Wildi, CEO der Hypothekarbank Lenzburg, wird der Finstar AG als Verwaltungsratspräsidentin vorstehen.
Gerhard Hanhart
«Die Finstar AG wird sich zu 100 Prozent im Besitz der Hypothekarbank Lenzburg befinden und die Aufgaben und das Personal des bisherigen Informatikbereichs der Bank vollständig übernehmen. Die Transformationsphase wird bis Ende der laufenden Strategieperiode im Jahr 2026 abgeschlossen sein. Erste Priorität geniesst die Kontinuität und Stabilität im Betrieb und in der Betreuung der bestehenden Kunden von Finstar. Sie werden als erste von der Ausgliederung von Finstar in eine eigenständige Unternehmung profitieren»,
erläutert Gerhard Hanhart, Verwaltungsratspräsident der Bank, das Vorgehen.
«Nach dem starken Wachstum in den vergangenen Jahren ist eine Ausgliederung des Geschäfts in eine selbständige Gesellschaft wichtig. Wir schaffen so die Basis für stärkeres Wachstum und eine stärkere strategische Fokussierung bei Entwicklung, Betrieb und Vertrieb des Kernbankensystems inklusive der damit zusammenhängenden Open-Banking-Dienstleistungen»,
sagt Hanhart.
Sämtliche der aktuell 16 Partnerinstitute werden weiterhin von den 70 Mitarbeitenden von Finstar betreut. Daniel Monras, der die Leitung von Finstar seit dem 1. Juli innehat, wird neu auch Einsitz in die Geschäftsleitung der Hypothekarbank Lenzburg nehmen.
«Die beiden Unternehmen werden eng zusammenarbeiten, was durch diese Personalunion sichergestellt wird»,
so Hanhart weiter.
Die Hypothekarbank Lenzburg wird Finstar wie bisher als Kernbankensystem für das eigene Geschäft nutzen. Zudem gibt es Schnittmengen im Banking-as-a-Service-Geschäft, bei dem die Hypothekarbank Lenzburg als Bankpartnerin für Fintech-Unternehmen operiert. Um die Vertriebsaktivitäten in diesem Bereich zu stärken, lanciert die Bank die neue Marke HBL Solutions. Mit ihr soll Banking-as-a-Service stärker in Richtung Embedded Finance ausgebaut werden. Die Weiterentwicklung dieser stark wachsenden Geschäftsfelder wird von André Renfer, dem ehemaligen Leiter des Bereichs Services, vorangetrieben.

]]></description><link>https://fintechnews.eu/hypothekarbank-lenzburg-gliedert-open-banking-platform-finstar-aus-und-sucht-neuen-ceo</link><guid>3319</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Hypothekarbank Lenzburg gliedert Open Banking Platform Finstar aus und sucht neuen CEO</dc:text></item><item><title>Thoma Bravo Completes Acquisition of ForgeRock; Combines ForgeRock into Ping Identity</title><description><![CDATA[Thoma Bravo and ForgeRock announced the completion of Thoma Bravo’s acquisition of ForgeRock in an all-cash transaction valued at approximately $2.3 billion. The acquisition agreement was previously announced on October 11, 2022, and approved by ForgeRock stockholders at ForgeRock’s Special Meeting of Stockholders held on January 12, 2023.
Upon completion of the acquisition, ForgeRock stockholders are entitled to receive $23.25 in cash for each share of ForgeRock class A common stock and class B common stock they owned. ForgeRock’s class A common stock will no longer trade and will be delisted from the New York Stock Exchange.
Thoma Bravo also announced that it has combined ForgeRock into its portfolio company Ping Identity. The combined company is positioned to better serve customers across the dynamic and fast-growing Identity and Access Management market by providing enhanced products and services, broader geographic support, and increased innovation. The combined company will seek to accelerate the delivery of identity security experiences for the customers, employees, and partners of companies worldwide.




   



    
   


   








J.P. Morgan acted as exclusive financial advisor to ForgeRock, and Wilson Sonsini Goodrich &amp; Rosati, P.C., acted as legal counsel to ForgeRock. Kirkland &amp; Ellis LLP and Fried, Frank, Harris, Shriver &amp; Jacobson LLP acted as legal counsel to Thoma Bravo.

This article first appeared on Fintech News America


Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/thoma-bravo-completes-acquisition-of-forgerock-combines-forgerock-into-ping-identity</link><guid>3320</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Thoma Bravo Completes Acquisition of ForgeRock; Combines ForgeRock into Ping Identity</dc:text></item><item><title>HSLU-Studie: Schweizer Banken tun sich schwer mit Open Banking</title><description><![CDATA[Open Banking könnte längerfristig zu Strukturanpassungen der Schweizer Bankenlandschaft führen. Denn für kleinere Banken ist die Öffnung der Bankdaten eine grosse Herausforderung. Dies zeigt die neueste Sourcing Studie der Hochschule Luzern.
Das Sourcing der Retailbanken hat gegenüber dem Vorjahr nur geringfügige Anpassungen erfahren. Heisst: Der Outsourcinggrad ist vor allem in der IT sehr hoch. Und er wird weiter zunehmen. Die Hochschule Luzern (HSLU) hat in der Sourcing Studie 2023 bereits zum fünften Mal den Fremdbezug von Dienstleistungen durch Retailbanken untersucht.
Open Banking: Wettbewerbsnachteil für kleinere Banken
Im vergangenen Jahr hat der Bundesrat seine Absicht geäussert, Open Banking vorauszutreiben – notfalls auch auf dem Gesetzesweg.




   



    
   


   








Felix Buschor
«In der Finanzindustrie ist seither eine gewisse Hektik ausgebrochen»,
sagt Co-Studienautor und Finanzexperte Dr. Felix Buschor. Anbieter würden unter Hochdruck neue Angebote entwickeln. Seitens der Banken hat sich eine ansehnliche Zahl unter Leitung der Bankiervereinigung bereit erklärt, ihre Systeme zu öffnen, um Multibanking für Privatkunden zu ermöglichen. Ob diese Aktivitäten ausreichen, um eine gesetzliche Regelung abzuwenden, ist gemäss Buschor aber schwierig abzuschätzen.
Denn proaktiv sind vorwiegend die grösseren Banken, während kleinere Banken noch zögern (Abbildung 1). Überraschend sei das gemäss den Studienautoren nicht, denn die finanziellen und technischen Ressourcen dafür seien für kleinere Banken eine grosse Herausforderung.
Abbildung 1: Öffnung der Banken mittels offener Schnittstellen gegenüber Drittanbietern
«Langfristig könnte Open Banking die Existenzgrundlage kleinerer Banken sogar gefährden»,
sagt Buschor. Denn aufgrund ihrer beschränkten finanziellen Mittel hätten sie gegenüber der grösseren Konkurrenz einen Wettbewerbsnachteil, sofern nicht entsprechend günstige Angebote auf den Markt kommen.
Hype um Ökosysteme flacht ab
In der letztjährigen Sourcing Studie wurde festgestellt, dass verschiedene Anbieter von Ökosystemen im Bereich Wohnen intensiv an neuen Funktionalitäten arbeiten. Solche Ökosysteme bündeln Leistungen entlang der gesamten Customer Journey für Interessentinnen und Interessenten an Wohneigentum, von Hypotheken bis zur Versicherung. In der Zwischenzeit hat sich das Interesse der Banken an solchen Ökosystemen jedoch merklich abgekühlt (Abbildung 2): Während im Vorjahr noch 87 Prozent aller Banken am Aufbau oder dem Betrieb eines Ökosystems interessiert waren, sind es dieses Jahr nur noch 62 Prozent. Oder in anderen Worten: Die Zahl der Banken, die aktuell keine Ökosysteme aufbauen oder betreiben wollen, hat sich verdreifacht.
Abbildung 2: Stand der Banken im Aufbau von oder in Bezug auf Mitarbeit in Ökosystemen
«Die überzogenen Erwartungen an die Ökosysteme sind offenbar realistischeren Einschätzungen gewichen»,
vermutet Co-Studienautor Dr. Urs Blattmann. Das Ökosystem rund um Wohnen hätte aber dennoch Potential als attraktiver Vertriebskanal, meint der Finanzexperte: Anstatt die Lösung für Kundenkontakte im digitalen Raum zu sein, wird es als eine von vielen Möglichkeiten gesehen.
Compliance-Dienstleistungen – das unterschätzte Potential
Potential sehen die Studienautoren zudem im Oursourcing von Compliance-Dienstleistungen. Seit der Finanzkrise im Jahr 2008 haben die Banken einen kontinuierlichen Strom an regulatorischen Anforderungen zu verarbeiten. Dies erfordert ausreichend Fachleute: um einerseits neue Regularien umzusetzen, und andererseits die Einhaltung bestehender Vorschriften zu garantieren. Mindestens innerhalb der gleichen Finma-Kategorie haben die Banken auch die gleichen Vorschriften umzusetzen und einzuhalten, was grundsätzlich eine gute Voraussetzung für ein Outsourcing ist.


Sourcing Studie 2023
Die Sourcing Studie des Instituts für Finanzdienstleistungen Zug IFZ zeigt die aktuellen und zukünftigen Entwicklungen im Outsourcing der Retailbanken auf. Auch der diesjährigen Sourcing-Studie ist wieder ein breites Verständnis von Sourcing als jegliche Form der unternehmensübergreifenden Zusammenarbeit zugrunde gelegt. Die Studie deckt deshalb nicht nur Themen wie die Auslagerung von Backoffice Tätigkeiten oder den Fremdbezug von IT-Leistungen ab. Darüber hinaus wird mit Open Banking und Ökosystemen auch der aktuelle Stand von Formen der unternehmensübergreifenden Zusammenarbeit, die erst durch die Digitalisierung möglich wurden, behandelt. Die komplette Studie gibt es hier zum Download.


]]></description><link>https://fintechnews.eu/hslu-studie-schweizer-banken-tun-sich-schwer-mit-open-banking</link><guid>3316</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>HSLU-Studie: Schweizer Banken tun sich schwer mit Open Banking</dc:text></item><item><title>Tenity Invests in 11 Early-Stage Fintechs, 3 From Switzerland</title><description><![CDATA[The upcoming edition of the Tenity Incubation Program in Switzerland welcomes a cohort of 11 highly innovative early-stage startups selected from a pool of more than 220 applications. The selected entrepreneurs are building solutions in the areas of Web3, Crypto, Wealth Management, Payments and Investing, and more.
The startups will go through four months of rigorous program, including workshops and events on topics such as product-market fit, marketing, and fundraising. Additionally, they’ll receive 1:1 support from Tenity experts and mentors.
The program provides access to guidance and support from Tenity’s wide ecosystem, including 280+ alumni, 200+ mentors, and an extensive network of 170+ investors. The program will culminate in a Demo Day event on November 23rd, 2023.




   



    
   


   








Maximilian Derpa
Maximilian Derpa, CIO of Tenity added:
“Our upcoming batch shows huge promise, with the selected founders not only building on the latest technological advances, including AI, but also leveraging the strength of Switzerland as a a leading crypto nation. We look forward to seeing successful teams that collaborate with our corporate partners and raise substantial rounds.”


Meet the 11 startups selected for the Tenity Incubation Batch 11
Blockaware | Romania

Blockaware is a single dashboard for any SMB that wants to hold crypto assets, offering on-ramping and off-ramping, easily managing an institutionally-grade secure wallet and compliance management.
Defiria | Germany

Defiria provides quantitative risk management services to investors in DeFi and crypto. Their customers receive the tools to augment their strategy to maximize their portfolio growth rate.
Elysium | Switzerland

Elysium is a Web3 self-custody Wallet for Digital Assets &amp; Identity. Cutting-edge Onboarding Tech, improving security, simplicity, and use cases. Bridging the gap between financial institutions, blockchain, and everyday users.
fija | Germany

fija is the new way to earn interest on crypto. Their earn product makes earning with crypto compliant, easy and Transparent. Compliant: Regulated security token. Easy: Integrated in crypto &amp; finance apps. Transparent: All transactions visible on-chain.
Fynce | Spain

Fynce is building a digital financial advisor for the mass affluent to manage their total wealth cheaply and intuitively.
IPBEX | Switzerland

IPBEX is a LegalTech company that helps inventors conduct precise prior-art searches through conversation and automatically draft robust patents, at a fraction of the time and cost.
MC2 Finance | Austria

MC2 Finance is a non-custodial cross-chain infrastructure for digital asset portfolio management, that allows users to build find and share strategies and uses blockchain technology to comply with traditional finance industry standards.
Napcat | Belgium

Napcat allows to auto-invest in trending cryptos with AI social media insights.
Swiset | Colombia

Swiset empowers trading communities and brokers with AI-driven analytics to boost retention and improve performance.
Sylbaa | Germany

Sylbaa’s software bridges between gold buyers and private sellers. By transferring the offline gold expertise to the web space, they increase revenue.
Truzt | Switzerland

Truzt is developing quality insurance for crypto assets held on centralized digital custody platforms.
Applications are now open for Incubation Batch 12 in Switzerland, Batch 3 in the Nordics and Batch 7 in Singapore. Interested startups can apply today!
]]></description><link>https://fintechnews.eu/tenity-invests-in-11-early-stage-fintechs-3-from-switzerland</link><guid>3317</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Tenity Invests in 11 Early-Stage Fintechs, 3 From Switzerland</dc:text></item><item><title>Schweizer Nachhaltigkeits Challenger Bank Radicant öffnet sich (endlich) dem breiten Publikum</title><description><![CDATA[radicant bank ag (radicant) gibt nun endlich ihre vollständige Marktöffnung bekannt. Ab sofort steht die radicant-App in den App-Stores von Apple und Google zum Download bereit.
Das umfassende Angebot steht damit erstmals einem breiten Publikum in der Schweiz zur Verfügung.

Roland Kläy
«Mit dem zielorientierten Einsatz von Kapital und Vermögen kann ein aktiver und damit positiver Einfluss auf die Nachhaltigkeit und die Rendite erzielt werden. Wir stellen mit radicant ein Angebot zur Verfügung, dass nachhaltiges Investieren einfach und alltäglich macht,»
so radicant Co-CEO Roland Kläy.
Das nachhaltige Bankangebot von radicant umfasst grundlegende Bank- und Zahlungsfunktionen (virtuelle und physische Debitkarte, Apple Pay, Google Pay, TWINT). Bei jeder Zahlung wird der CO₂-Fussabdruck der Transaktion gemessen und kann von den Kundinnen und Kunden in der App eingesehen werden. Ein Teil der Bareinlagen wird zur Unterstützung von weltweiten Nachhaltigkeitsprojekten angelegt (bspw. in Green Bonds).




   



    
   


   








radicant bietet ein auf die Nachhaltigkeitsziele der Vereinten Nationen ausgerichtetes Investmentmandat an. Damit ermöglicht sie es ihren Kundinnen und Kunden, in Unternehmen zu investieren, welche einen positiven Beitrag zur Erreichung dieser Ziele beitragen. radicant hat hierfür einen eigenständigen Investmentansatz wie auch eine Bewertungsmethode entwickelt, welche verständlich und transparent die Erreichung der Nachhaltigkeitsziele ausweist.
radicant ist als Bank vollständig nachhaltig ausgerichtet. Das beginnt bei der Definition von Unternehmenszielen, geht über den nachhaltigen Bankbetrieb hin zu Richtlinien und Prozessen, sowie einer transparenten Berichterstattung und regelmässigen internen Schulungen. Ergänzt wird der Ansatz mit einem Kompetenzzentrum für Nachhaltigkeit, welches der Aufklärung und Wissensvermittlung dient. Dieses steht interessierten Kundinnen und Kunden, sowie nicht-Kundinnen und Kunden zur Verfügung.

]]></description><link>https://fintechnews.eu/schweizer-nachhaltigkeits-challenger-bank-radicant-offnet-sich-endlich-dem-breiten-publikum</link><guid>3315</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Schweizer Nachhaltigkeits Challenger Bank Radicant öffnet sich (endlich) dem breiten Publikum</dc:text></item><item><title>Nachhaltigkeits Challenger Bank Radicant öffnet sich dem breiten Publikum</title><description><![CDATA[radicant bank ag (radicant) gibt nun endlich ihre vollständige Marktöffnung bekannt. Ab sofort steht die radicant-App in den App-Stores von Apple und Google zum Download bereit.
Das umfassende Angebot steht damit erstmals einem breiten Publikum in der Schweiz zur Verfügung.

Roland Kläy
«Mit dem zielorientierten Einsatz von Kapital und Vermögen kann ein aktiver und damit positiver Einfluss auf die Nachhaltigkeit und die Rendite erzielt werden. Wir stellen mit radicant ein Angebot zur Verfügung, dass nachhaltiges Investieren einfach und alltäglich macht,»
so radicant Co-CEO Roland Kläy.
Das nachhaltige Bankangebot von radicant umfasst grundlegende Bank- und Zahlungsfunktionen (virtuelle und physische Debitkarte, Apple Pay, Google Pay, TWINT). Bei jeder Zahlung wird der CO₂-Fussabdruck der Transaktion gemessen und kann von den Kundinnen und Kunden in der App eingesehen werden. Ein Teil der Bareinlagen wird zur Unterstützung von weltweiten Nachhaltigkeitsprojekten angelegt (bspw. in Green Bonds).




   



    
   


   








radicant bietet ein auf die Nachhaltigkeitsziele der Vereinten Nationen ausgerichtetes Investmentmandat an. Damit ermöglicht sie es ihren Kundinnen und Kunden, in Unternehmen zu investieren, welche einen positiven Beitrag zur Erreichung dieser Ziele beitragen. radicant hat hierfür einen eigenständigen Investmentansatz wie auch eine Bewertungsmethode entwickelt, welche verständlich und transparent die Erreichung der Nachhaltigkeitsziele ausweist.
radicant ist als Bank vollständig nachhaltig ausgerichtet. Das beginnt bei der Definition von Unternehmenszielen, geht über den nachhaltigen Bankbetrieb hin zu Richtlinien und Prozessen, sowie einer transparenten Berichterstattung und regelmässigen internen Schulungen. Ergänzt wird der Ansatz mit einem Kompetenzzentrum für Nachhaltigkeit, welches der Aufklärung und Wissensvermittlung dient. Dieses steht interessierten Kundinnen und Kunden, sowie nicht-Kundinnen und Kunden zur Verfügung.

]]></description><link>https://fintechnews.eu/nachhaltigkeits-challenger-bank-radicant-offnet-sich-dem-breiten-publikum</link><guid>3314</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Nachhaltigkeits Challenger Bank Radicant öffnet sich dem breiten Publikum</dc:text></item><item><title>Robo Advisory Switzerland Case: True Wealth From 0.5Bio to 1Bio AUM in 28 Month</title><description><![CDATA[Swiss online wealth manager True Wealth has finally reached its long awaited milestone: They reached 1 billion Swiss Franc in client assets under management (AUM) in its direct business.
Exactly 28 months ago on 19.April 2021 they announced they had reached 0.5 Bio CHF AUM. However, it is likely that the integration of BLKB clients was accelerated in this timeframe. (BLKB owns 40% of True Wealth).
Initially True Wealth wanted to reach the 1 Bio CHF AUM goal already end of 2017, Felix Niederer told Finanzprodukt.ch in an interview back in February 2016.




   



    
   


   








Felix Niederer
True Wealth started 10 years ago as the first Swiss Robo Advisor to revolutionize digital wealth management in Switzerland. From the beginning, True Wealth’s pioneers relied on fully automated processes.
This strategy is paying off: True Wealth is experiencing strong and consistent growth, reaching another milestone just 10 years after its founding: the online wealth manager reaches 1 billion in client assets under management in its direct business.
Swiss ETF Saving boom continues
Exchange-traded index funds, or ETFs, have been the central pillar of True Wealth’s digital wealth management offering since the company was founded around ten years ago. «ETFs were then, and still are, the best tool to invest in a diversified and efficient way», adds co-founder Oliver Herren.
ETFs have made wealth management more accessible, liquid and cost-effective, Felix Niederer, True Wealth’s CEO says.
«We pass this advantage directly on to our clients. However, with over 10’000 exchange-traded index funds now available, making the right choice is becoming increasingly important – this is where professionals should step in. We understand this business and select the most efficient investment instruments in the interest of our clients»,
Niederer said.
True Wealth also announced that it intends to continue growing in the direct business. To this end, it is constantly investing in product innovations.
True Wealth manages over 1 billion Swiss francs for more than 17’000 clients in the area of discretionary wealth management and tied pension plans. The expansion into securities-based Pillar 3a, launched last October, has got off to a successful start and is already being used by over 4’000 clients.

Featured image credit: Felix Niederer, CEO of True Wealth
]]></description><link>https://fintechnews.eu/robo-advisory-switzerland-case-true-wealth-from-05bio-to-1bio-aum-in-28-month</link><guid>3313</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/09/Backbase-ENGAGE-.png?x85777</dc:content ><dc:text>Robo Advisory Switzerland Case: True Wealth From 0.5Bio to 1Bio AUM in 28 Month</dc:text></item><item><title>UK Launches 1Bio GBP Growth Stage Fintech Fund</title><description><![CDATA[UK FinTech Growth Partners announced that it will launch the FinTech Growth Fund, the first investment fund of its kind focussed on supporting growth stage FinTechs as they scale.
With backing for the initiative already secured from industry leaders Barclays, NatWest, Mastercard, London Stock Exchange Group and Peel Hunt, the FinTech Growth Fund will invest in UK FinTechs, predominantly between Series B and pre-IPO, to enable them to scale into world-class global organisations. The first deployment of capital into businesses is scheduled for Q4 2023 with a strong pipeline of opportunities already identified. The fund will look to undertake, on average, four to eight investments per year, with investments between £10 million and £100 million. The fund will make minority investments and all investments will be for equity and equity-linked securities.
Alongside the investment capital, the FinTech Growth Fund will provide strategic support to its portfolio companies to help them achieve their corporate ambitions, giving them access to an ecosystem of deep, relevant experience across FinTech, venture capital, and the wider financial services ecosystem.




   



    
   


   








The UK FinTech Growth Partners executive team combines decades of experience in venture capital, FinTech and government. The partners of the fund include:

Angel Issa – former Global Head of Corporate Development &amp; Strategic Investments at Nomura, having previously held similar roles at BNP Paribas and Morgan Stanley;
Joe Parkin – former Managing Director – Head of Banks, Digital Channels and UK Inorganic at BlackRock;
Kaushalya Somasundaram – Former Executive Director and UK Head of Payments, Partnerships &amp; Industry Relations at Square; Former Managing Director and Global Head of FinTech Partnerships &amp; Strategic Innovation Investments Director at HSBC, and;
Phil Vidler – CEO of FinTech Alliance, formerly Group Strategy Director at Pollinate and Head of Global Markets for HM Treasury

The fund is currently recruiting for a number of roles, including regional positions as part of its commitment to supporting businesses throughout the UK.
To support the growth of the fund, UK FinTech Growth Partners has assembled a world leading non-executive advisory board which brings with it a wealth of sector expertise. The advisory board will be chaired by former Chancellor of the Exchequer, Lord Philip Hammond, and will also feature notable UK financial services and FinTech figures, including:

Clare Bousfield – MD Retail and Savings for M&amp;G plc;
Sir Charles Bowman – Former Senior Partner of PwC and former Lord Mayor of London;
Dame Jayne-Anne Gadhia – Chair of Moneyfarm, Founder of Snoop and Ex CEO of Virgin Money.
Lord Gerry Grimstone – former Minister for Investment jointly at the Department for International Trade and the Department for Business, Energy &amp; Industrial Strategy, former Chair of Barclays Bank and former Chair of Standard Life;
Alastair Lukies CBE – Founder of Pollinate International and Founding Partner of Motive Partners;
Dame Helena Morrissey – Chair of the Board of Directors Fidelis and Chair of Altum Group, former Chair at FTSE250 firm AJ Bell and former CEO of Newton Investment Management;
Romi Savova – Chief Executive Officer (CEO) of PensionBee, and;
Philip Smith – Founder and former CEO of Embark Group.

Phil Vidler
Phil Vidler, Managing Partner, commented:
“The UK has always been at the forefront of innovation in FinTech but there is a very clear and well evidenced growth funding gap. The FinTech Growth Fund will address the lack of available growth capital by providing a first of its kind domestic, growth-stage, FinTech focused venture capital fund backed by strategic investors. Our aim is to not only provide the capital needed for founders to scale their businesses, but to also engage with stakeholders across the nation to support the wider ecosystem. In doing so, we believe we can ensure the UK remains a global leader in FinTech.”
The idea for the fund grew out of the landmark Kalifa Review which outlined a five-point plan to help the UK retain its status as a global leader in financial services through securing the success of UK FinTech. It identified an annual funding gap for growth stage FinTech estimated at £2bn and recommended a £1bn growth fund which would sufficiently fill this gap in order to sustain our world leading ecosystem. Currently these FinTechs struggle to find domestic capital to help them scale, resulting in a loss of IP and a growing divergence between the UK and the US at post seed funding levels.
Sir Ron Kalifa
The fund is welcomed by Sir Ron Kalifa, author of the Kalifa Review:
“I am delighted to welcome the launch of the UK FinTech Growth Fund as a private sector initiative, backed by institutional capital, responding to one of the key recommendations of the Review. The Fund represents another key building block in the support ecosystem for growth stage UK FinTech businesses. This is an important step forward towards ensuring the UK retains its leadership role in FinTech.”
Outside its core remit, UK FinTech Growth Partners will commit to providing wider holistic support for the UK FinTech ecosystem. This extensive commitment will be realised through the “Beyond Investing” programme which will consist of initiatives focused on national connectivity, support for early-stage founders, and talent, diversity, equity, and inclusion.
UK FinTech Growth Partners LLP is an appointed representative of Laven Advisors LLP which is authorised and regulated by the Financial Conduct Authority.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/uk-launches-1bio-gbp-growth-stage-fintech-fund</link><guid>3312</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>UK Launches 1Bio GBP Growth Stage Fintech Fund</dc:text></item><item><title>CFA Institute: Finance Professionals Show Divide on Central Bank Digital Money</title><description><![CDATA[Globally, finance professionals have limited understanding of central bank digital currencies (CBDCs) and are showing division on whether central banks should launch such instruments, a new study conducted by industry association CFA Institute revealed.
The survey, which polled more than 90,000 CFA Institute members from countries like the US, Switzerland and China, revealed that, at the global level, the question of whether to launch a CBDC failed to gain majority support. 42% of respondents said they were in favor of central banks launching CBDCs, while 34% were opposed. A sizeable portion, 24%, voiced no opinion.
Findings also revealed that finance professionals’ self-reported understanding of CBDCs was quite limited, with only 12% of the respondents stating they had a strong understanding of CBDCs.




   



    
   


   








These results suggest that central banks and governments will need to engage in a significant educational and outreach effort to explain why they would launch CBDCs, for what purpose, and under what circumstances.
Level of understanding of CBDCs (global results), Source: CFA Institute Global Survey on Central Bank Digital Currencies, CFA Institute, July 2023
Taking a deeper look at the regional level, the study found that respondents in developed markets were much less enthusiastic for CBDCs (37% of respondents in favor) than did those in emerging markets (61% in favor).
North America, in particular, was found to be the region with the least favorable view (33%) of launching CBDCs, while Asia Pacific (APAC) showcased the most favorable view (59%) with notably high levels of support in China (70%) and India (66%).
This divergence can be partly explained by the different levels of economic development and capital market sophistication in developed markets versus developing markets. Most developed markets already provide a large spectrum of banking and asset choices, but these may be lacking in developing markets, the report notes. Moreover, the availability of cryptocurrency and digital asset products in these markets may already be offering potential users valuable innovation in investment options, making CBDCs somewhat redundant.
Level of support for launching a CBDC (geographical breakdown), Source: CFA Institute Global Survey on Central Bank Digital Currencies, CFA Institute, July 2023
Respondents were also asked about the reasons why they opposed the launch of a CBDC, to which they highlighted two reasons in particular: data privacy concerns (50%) and the lack of use cases for a CBDC (40%).
At a regional level, data privacy concerns were the highest in developed markets, especially in the US and Switzerland, and lowest in India and Latin America, the study found. Developed markets also showed a higher level of doubt as to the purposefulness of CBDCs (42%) when compared to emerging markets (32%).
Reasons for opposing the launch of a CBDC (global), Source: CFA Institute Global Survey on Central Bank Digital Currencies, CFA Institute, July 2023
Improved payment efficiency and financial inclusion
Despite the risks and challenges, financial professionals also believe CBDCs could bring many benefits to the financial services industry. In particular, respondents cited the primary reason for supporting a CBDC as being the potential of enhanced payments and money transfers as well as reduced counterparty and settlement risk in the system (58%).
Another reason cited for launching a CBDC cited by respondents was the belief that central authorities should play a central role in the development of cryptocurrencies. That reason elicited a staggering 100% response rate in China, while scoring 30% globally.
In emerging markets, meanwhile, two of the top motivations to explore CBDCs are to provide a cash-like means of payment and to promote financial inclusion. 55% of respondents in emerging markets said they believed that CBDCs could enhance financial inclusion. with China (66%) and India (64%) recording the highest rates.
Reasons for supporting the launch of a CBDC (global), Source: CFA Institute Global Survey on Central Bank Digital Currencies, CFA Institute, July 2023
These findings align with results of studies conducted by other organizations. A 2022 survey of 86 central banks run by the Bank for International Settlements (BIS) revealed that the motives for considering the issuance of retail CBDCs revolved mainly around improving financial inclusion and payment efficiency.
Motivations for issuing a retail and wholesale CBDC, advanced economies versus emerging economies, Source: BIS central bank surveys on CBDCs and crypto, 2018–2022, Bank for International Settlements, July 2023
CBDCs, tokenization and distributed ledger technology (DLT) more broadly have been praised for their potential to streamline the settlement process in financial markets.
A 2023 report by the Global Financial Markets Association (GFMA) together with Boston Consulting Group (BCG), Clifford Chance and Cravath, Swaine and Moore, estimates that DLT could help save an estimated ~US$15-20 billion in annual global infrastructure operational expenditures by streamlining and automating various processes in the chain as well as reducing the need for intermediaries and human intervention.
Additionally, since CBDCs would be accessible through smartphones or other digital devices, the technology could potentially bringing financial services to those who are unbanked or underbanked. This can be especially beneficial in regions where traditional banking infrastructure is lacking but mobile phone penetration is high.
Central banks accelerate CBDC efforts
Central banks around the world have ramped up their CBDC efforts over the past years, encouraged by the emergence of stablecoins and cryptocurrencies. Over the course of 2022, the share of central banks engaged in some form of CBDC work rose further, climbing from 86% in 2020 to 93% in late-2022, studies conducted by the BIS show.
Central bank involvement in CBDC work, Source: BIS central bank surveys on CBDCs and crypto, 2017–2022, Bank for International Settlements, July 2023
In Switzerland, the central bank shared earlier this year how it intended to “future-proof” the domestic payment ecosystem, outlining its ambition to leverage technologies and processes including tokenization and DLT.
Swiss National Bank governing board member Andréa Maechler said during an event in March that the authority was conducting a study on how central bank money could be made available in a regulated token environment.
The project focuses on examining different models for token settlement, and is being undertaken in collaboration with regulated financial market infrastructures and other market participants.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/cfa-institute-finance-professionals-show-divide-on-central-bank-digital-money</link><guid>3311</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>CFA Institute: Finance Professionals Show Divide on Central Bank Digital Money</dc:text></item><item><title>The Future of Insurance Europe 2023 Returns to Amsterdam This November</title><description><![CDATA[Reuters Events: The Future of Insurance Europe 2023 will be returning to Amsterdam from 28-29 November, Amsterdam to discuss strategies, technologies, customer, claims, and the trajectory of the insurance industry in Europe.
Spanned over 2 days, the event aims to:

Tackle customer friction by optimising the claims process and end-to-end journey through omni-channel engagement and automation powered by a motivated workforce
Utilise the full potential of AI and emerging technology through a robust digital strategy to streamline your internal processes and tackle loss ratios
Power growth through new offerings and preventative services driven by telematics and new distribution models to provide what your competitors do not and win crucial market share

Designed specifically for insurance leaders and attended by innovative industry players from 35+ countries across Europe and all business lines, #FOIEurope is inspired to deliver what insurance companies need to implement practical change today, for a successful tomorrow.
Highlights of the Event
The world has been turned on its head. Most industries are reducing their pace of innovation and aiming for survival instead of growth. But insurance is not most industries. Instead of slowing down, this is the time for insurance players to come together and capitalise on the unprecedented level of change surrounding the industry.
Reuters Events: The Future of Insurance Europe 2023 features topics revolving around three key themes:


Strategy &amp; Resilience: In such a disrupted world, business-wide strategy that transcends socioeconomic fluctuations and future-proofs your organisation in the face of global change has never been more crucial. Discuss the big picture challenges facing insurers today and leave with the insights needed for successful innovation
Technology &amp; Innovation: A wealth of technology is transforming the industry – but the pace of change exceeds the speed at which technology can be implemented. Those that navigate this influx of technology – from AI to IoT to the Metaverse – will successfully reap the rewards of previously untapped potential
Claims &amp; Customer: Claims is at a critical crossroads – with the rise of AI and increasingly unsettled customer behaviours, understanding what clients need from their insurer will be crucial. Insights must then be translated into action to truly optimise your claims and CX experience and become the organisation your customer needs


Speakers from major industry leaders such as Zurich, AXA, Lloyd’s Europe, Generali and more will be sharing on topics related to digital transformation and how technologies are set to transform the entire insurance industry.
During the sessions, speakers will be presenting case studies, panel discussions, interactive workshops and more on optimising tech, fine-tuning CX and enhancing profitability, which could help attendees gain a competitive edge.
Future of Insurance Europe – Speakers Line-up (Source: Reuters Events)
Here are some of the the speakers who’ve confirmed their attendance:

Amelie Breitburd, CEO, Lloyd’s Europe
Henrik Ryden, CEO Nordics, Marsh McLennan
Tibor Boettcher, CEO, Volkswagen Insurance Company
Steve Hardy, CEO, Policy Expert
Pamela Thomson-Hall, CEO, International and Executive Officer, WTW
Ian Thompson, Group Chief Claims Officer, Zurich
Steven Zuanella, Group Chief Digital Officer, Generali
Cyril Steffen, Chief Claims Officer, Europe, AXA
Dominick Hoare, Chief Underwriting Officer, Munich Re Specialty Group
Imre Sztano, Chief Digital Officer, NN International Insurance
Olivera Boehm-Ryback, Chief Corporate Business Officer, UNIQA
Puneet Satyawadi, Chief Operating Officer, Marsh International
Raphaël Gusdorf, Chief Digital Officer, AG2R La Mondiale
Philippe Knepfler, Chief Innovation Officer, Covéa Affinity

Attendees can also expect to network with more than 350 representatives from leading insurance companies in the region. Networking app will be provided to attendees, to aid them in forging critical new connections face-to-face in a digital world.
Companies that have attended Future of Insurance Europe. Source: Reuters Events
Why Should You Attend?

Peer-to-Peer Networking: Meet informally over coffee, build connections over a seated lunch, or finalise next steps in private meeting rooms – choose how you prefer to network and get back to the quality interactions that matter.
Unparalleled Use-Cases: The speakers are the driving force of excellence and innovation. Hear only from those at the top of their game, representing the industry’s most progressive and innovative insurers.
An Agenda that Asks – and Answers – the Right Questions: Driven by extensive research, speaking to the latest challenges surrounding strategy, technology, partnerships and customer experience.
Europe’s Most Select &amp; Senior Gathering of Executives: No other event matches the audience of 350+ senior decision-makers, powering their organisations towards success.
Expertise Across All Business Lines: Reuters Events recognize not only the overarching challenges facing the community, but also the particularities impacting each business line, giving you the chance to deep-dive into the specific challenges facing your organisation to get the answers you need.

Tickets are available for purchase. Click here to download the event brochure and gain more insights.

If you have any questions, or would like more information on speaking, sponsoring, or attending, contact: nuriya.powell@thomsonreuters.com
]]></description><link>https://fintechnews.eu/the-future-of-insurance-europe-2023-returns-to-amsterdam-this-november</link><guid>3310</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/08/Screenshot-2023-08-16-at-11.55.26-AM-1024x552.png?x85777</dc:content ><dc:text>The Future of Insurance Europe 2023 Returns to Amsterdam This November</dc:text></item><item><title>Online Mortgage Switzerland: Valuu and Credex to Grow Together</title><description><![CDATA[PostFinance is acquiring a stake in Credit Exchange Ltd (CredEx) and taking a seat on its Board of Directors. The two parties have signed a contract to that effect.
To achieve the best possible synergies, PostFinance is bringing its comparison and sign-up platform Valuu to CredEx. CredEx will pool the brokerage business under the Valuu brand and continue operating the intermediary business.
With a new total of 17 financing partners, PostFinance’s mortgage lending continues to gain in importance. PostFinance already works with Valuu’s “Valuu Pro” mortgage advice tool to provide its customers with financing offers. Now PostFinance’s advisors not only offer products from current partners Valiant and Münchener Hypothekenbank under the name of “PostFinance mortgage”, they also offer products from a current total of 17 refinancing partners thanks to this additional partnership with CredEx.




   



    
   


   








Postfinance, Avera, Mobiliar, Swisscom, Vaudoise and GLKB Acquire Stake in Credex
By means of a capital increase, PostFinance is acquiring a stake in Credit Exchange Ltd. This means that PostFinance will become a shareholder of the company, alongside Avera, Mobiliar, Swisscom, Vaudoise and Glarner Kantonalbank, and take a seat on the Board of Directors. As part of this move, PostFinance is transferring its comparison and sign-up platform Valuu to the joint venture CredEx – this is to reinforce Valuu’s B2B business, based on the firm belief that combining the two platforms will ensure their long-term success. Nothing will change for current Valuu brokers and lenders. There will be new opportunities for them to place additional volume through CredEx’s additional sales partners.
Thomas Jakob
Thomas Jakob, Chief Business Unit Officer for Platform Business and CEO of Valuu, PostFinance’s mortgage comparison and sign-up platform, sees major opportunities in a joint future:
Serkan Mirza
“Both platforms are market leaders in their respective customer segments. By working closely together, broker partners can benefit from a one-stop solution – in other words, they can find the best mortgage offer on the Swiss market and take it out there and then with ease.”
Serkan Mirza, CEO of CredEx, is confident about this strategic partnership:
“We will create synergies for everyone involved in our newly expanded ecosystem – whether borrowers, sales partners or lenders – and strengthen CredEx’s positioning as a leading B2B mortgage marketplace in Switzerland for the long term.”
Valuu started 2019
With Valuu, PostFinance launched the first fully digital mortgage brokerage platform in 2019. It is the first platform to enable the entire financing process end-to-end, including the option of taking out mortgages online. Once the platform was developed into a mortgage comparison service for private customers, it also went on to gain more and more traction in the business customer segment under the name Valuu Pro. Around 120 broker partners already advise their customers on mortgage-related questions with Valuu Pro. Currently, the platform has over 34 lenders, which provides customers with a wide range of products.

Featured image credit: Thomas Jakob, Chief Business Unit Officer for Platform Business and CEO of Valuu and Serkan Mirza, CEO of CredEx
]]></description><link>https://fintechnews.eu/online-mortgage-switzerland-valuu-and-credex-to-grow-together</link><guid>3309</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Online Mortgage Switzerland: Valuu and Credex to Grow Together</dc:text></item><item><title>10 Must Know Fintech Accelerators and Incubators in USA and Canada</title><description><![CDATA[With robust financial markets, advanced infrastructure and technological prowess, North America has emerged as a hotspot for fintech innovation.
The continent boasts a myriad of programs designed to propel startups to the top, providing the most promising tech-enabled businesses with critical resources to grow and connecting them with industry veterans, experts and potential investors.
Today, we look at ten of the largest and most prolific fintech acceleration and incubation programs in the continent. These programs have established track-records of building up and supporting some of the world’s biggest and most successful ventures.




   



    
   


   








Y Combinator


Although not exclusively fintech-focused, Y Combinator (YC) is one of the most prolific and prestigious startup accelerators in the world.
The American company runs programs and provides resources that support founders throughout the life of their company. These include Startup School, which teaches the basics of starting a company; the three-month YC batch program, which takes place twice a year in-person in San Francisco and helps founders as they build their product, talk to their customers, and raise funding; Work at a Startup, which makes it easy for founders to find their first engineers; and YC Series A, which helps founders launch their A round.
YC claims it has invested in nearly 3,000 startups including Airbnb, DoorDash, Instacart and Dropbox. Many successful fintech startups, including payment processing platform Stripe and cryptocurrency exchange Coinbase, also started their journeys at YC. The combined valuation of YC companies stands at over US$300 billion, the company says.
500 Global


500 Global is a multi-stage venture capital (VC) firm headquartered in San Francisco. With US$2.5 billion in assets under management, the firm invests in founders building fast-growing technology companies, focusing on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.
500 Global’s Flagship Accelerator program runs for four months in Silicon Valley. The program focuses on helping founders of early-stage startups take their companies to the next level and provide them up to US$150,000 in seed funding.
500 Global also runs the Alberta Accelerator program, which focuses on growing and scaling promising Canadian startups in sectors such as clean energy, digital health innovation and artificial intelligence (AI).
500 Global claims it has backed over 5,000 founders representing more than 2,600 companies operating in 80 countries. The firm’s portfolio includes 51 companies valued at over US$1 billion and 140 companies valued at over US$100 million. Fintech companies 500 Global has backed include personal finance company Credit Karma, cross-border payment unicorn Chipper Cash and digital financing platform Funding Societies.
Techstars


Techstars is a global investment business that provides access to capital, one-on-one mentorship, a worldwide network and customized programming for early-stage entrepreneurs. Founded in 2006 in Boulder, Colorado, the company hosts a range of accelerator programs around the world, with its fintech-focused accelerators being among the most recognized.
Techstars often collaborate with corporate partners for specific programs, like the Barclays Accelerator powered by Techstars and the ABN AMRO + Techstars Future of Finance Accelerator.
Located in New York City and London, the Barclays Accelerator is an intensive 13-week program designed to accelerate promising startups with capability in machine learning (ML), lending, digital banking solutions, trading, and more. It’s a mentor-driven program with industry experts working closely with selected startups to help them accelerate over the course of the program, and beyond.
ABN AMRO + Techstars Future of Finance Accelerator, meanwhile, is a program hosted in Amsterdam that targets entrepreneurs across all areas of fintech with a specific focus on digital assets and sustainability.
Fintech Innovation Lab


The Fintech Innovation Lab is a premier global program that helps early- to growth-stage companies who are redefining the fintech industry grow their business with support from the world’s top financial service firms.
Co-founded by Accenture and the Partnership Fund for New York City, the program aims to bring together leading financial services institutions, angel investors and VC firms to provide promising fintech startups with the opportunity to work with future customers, perfect propositions, gain insights into the banking industry and build strong relationships.
An annual program run in New York, London, and Hong Kong, the Fintech Innovation Lab claims its New York program has assisted entrepreneurs from 99 technology companies since its founding in 2010, including crypto exchange software provider AlphaPoint, market data and intelligence platform CB Insights and distributed ledger technology (DLT) provider Digital Asset Holdings. These program graduates have created more than 2,000 jobs, raised more than US$2.2 billion in venture financing, and 24 of them have been acquired, the firm says.
Plug and Play Fintech


Plug and Play Fintech is a startup program dedicated to accelerating the innovation roadmap of major global financial entities, connecting startups, corporations, VC firms, universities and government agencies to help its corporate partners in every stage of their journey.
Headquartered in Silicon Valley, with locations in France, Japan, Germany and more, the accelerator focuses on seven fintech verticals: wealth and asset management, payments, sustainability, retail banking, regtech, open banking, and crypto and digital assets.
Plug and Play Fintech claims it has so far fast-tracked 70+ corporate partners, orchestrated 1,750+ POCs and pilots, accelerated 2,000+ startups, made 150+ strategic investments, and backed nine fintech unicorns.
Plug and Play Fintech’s corporate partners include Visa, BNP Paribas, Moody’s, Raiffeisen Bank International and Facebook. Fintech startups it has backed include paytech unicorn Flutterwave, German digital bank N26 and online payment giant PayPal.
AWS Fintech Accelerator


Amazon Web Services (AWS) launched in June its first global fintech accelerator in partnership with Vestbee, a startup ecosystem platform in Central and Eastern Europe.
The equity-free online program is set to handpick 150 seed-stage, AI/ML-centric fintech startups from regions including North America, Europe, Middle East, Africa, and Latin America, to provide them with product, business and investment support.
Participants will undergo six weeks of virtual mentorship from October 02 to November 06, 2023, and will gain insights into funding, scaling, market strategies, AWS technicalities, and more.
Startups stand to gain up to US$25,000 in AWS Activate credits and additional perks from partners across the fintech, VC, and financial sectors. The program’s pinnacle will see the top 15 startups presenting at a Demo Day to VCs and financial institutions, with an opportunity to secure an extra US$75,000 in AWS credits.
Key collaborations enhancing this accelerator include AI giant Nvidia and investor mentorship from Bain Capital Ventures.
MaRS Fintech

Located in Toronto, MaRS claims to be the world’s largest urban innovation hub, supporting startups in the health, cleantech, fintech, and enterprise sectors.
MaRS’ fintech cluster provides innovators and companies that are modernizing the traditional businesses of banking, insurance, and wealth management with access to subject matter expertise, connections to capital, talent, and essential resources. It also links them up with traditional institutions with the goal of improving their services, better understanding their customers’ changing needs, and keeping people’s hard-earned money safe.
MaRS offers different programs and services tailored to various stage of growth. The Capital Program, for example, is a multi-sector, exclusive program that provides advisory support to help ventures prepare for and execute seed and Series A raises. The Growth Acceleration Program, on the other hand, supports scaling and high-growth companies on track to reaching CA$20 million in revenue.
MaRS says it has supported more than 1,400 Canadian science and tech companies, including fintech ventures Koho, Mogo, Trulioo and Wealthsimple.
Holt Accelerator


Holt Xchange is a global seed-stage VC fund based in Montreal that invests in fintech business application companies across the globe.
Holt Xchange also operates a three-month startup program designed to accelerate the growth of promising fintech companies by providing them with access to a 500+ advisory network comprising external angel and Series A investors, financial institutions and experts, supporting their team expansion plans, assisting them in reviewing and providing templates for startup documents that include product roadmaps, sales funnels, GTM strategy, financial models, unit economics, datarooms, term sheets, and more.
Over the last four years, Holt Xchange claims it has invested in 39 companies across 11 countries. Its portfolio has a combined valuation of CA$725 million and has raised over CA$ 125 million from more than 40 institutional investors. Its portfolio companies include Sentro, City Falcon and Consilium Crypto.
Highline Beta


Highline Beta is a hybrid corporate venture studio and VC firm based in Toronto. The company works with executives to build new ventures both inside and outside of their organizations to unlock new areas of growth.
Highline Beta also provides tailored Corporate Pilot Accelerators, working with partners to frame business challenges, design the pilot program accelerator, build the pilot cohort, run the pilots and evaluate outcomes. From start to finish the Pilot Accelerators typically last less than a year, validating new startups with optionality to scale the relationships, invest or acquire.
Highline Beta, which only invests in startups it works with through its venture studio and pilot accelerator programs, counts the likes of accounting firm Stamped, blockchain startup BanQu and embedded insurance specialist Walnut Insurance in its portfolio.
DMZ


The DMZ, launched in 2010 under the name Digital Media Zone, is the Toronto Metropolitan University’s business incubator for early-stage tech startups. The incubator helps startups build great businesses by connecting them with customers, capital, experts and a community of entrepreneurs and influencers.
The DMZ runs different programs for different stage of development. These programs include the Launchpad, which is designed for aspiring entrepreneurs who want to build a business and need support getting started; the Pre-Incubator, which targets tech founders who are validating a business idea, establishing a minimum viable product, and securing their first customers; and the Incubator, which is built for venture-backable pre-seed and seed-stage startups with a full-time founder, early traction, and proven product-market fit.
Since 2010, the DMZ claims it has helped fuel, grow and graduate 801 startups. These startups have raised CA$2.51 billion in seed funding and have fostered the creation of more than 4,975 jobs.
Successful fintech startups that started out at the DMZ include Fundscraper, a tech-enabled real estate investing platform, and Pungle, a digital platform acquired by Berkeley Payments that enables businesses to make secure and real-time payments to consumers, suppliers and employees.

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/10-must-know-fintech-accelerators-and-incubators-in-usa-and-canada</link><guid>3308</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>10 Must Know Fintech Accelerators and Incubators in USA and Canada</dc:text></item><item><title>33% Coupon on Helveteq’s First Multi Barrier Reverse Convertible on Crypto</title><description><![CDATA[Helveteq launched in Switzerland the their first Multi Barrier Reverse Convertible with three crypto currencies as underlying.
The product is admitted for broad distribution in Switzerland and offers investors to benefit from elevated volatility in the crypto currencies Bitcoin, Ripple and Solana.
Multi Barrier Reverse Convertibles are popular on baskets of equities. The products pay a fixed coupon while the redemption of the nominal value is dependent upon the performance of the underlyings relative to a barrier level. Helveteq’s product team, which has been securitizing traditional securities as well as digital assets for clients, thereby allows investors to benefit from higher return expectations (and higher risks) in the crypto markets. The first Helveteq product has an indicative coupon of 33% p.a. with a 65% barrier and a maturity of three months.




   



    
   


   








Helveteq’s partner and custodian is Bank Frick.
Christian Katz
Christian Katz, CEO von Helveteq, says:
“This attractive new product broadens the product offering of Helveteq by adding a yield enhancement solution for investors with a shorter investment horizon. We are glad to succeed in offering a Multi Barrier Reverse Convertible on crypto currencies to clients. Investors benefit from a higher coupon. In addition, all our products are collateralized (for counterparty risk) and thereby offer investors an additional layer of security.”



Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/33-coupon-on-helveteqs-first-multi-barrier-reverse-convertible-on-crypto</link><guid>3307</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>33% Coupon on Helveteq’s First Multi Barrier Reverse Convertible on Crypto</dc:text></item><item><title>Sumup Secures New US$100 Million Credit Facility</title><description><![CDATA[Global fintech company SumUp announced today that it has entered into a US$100 million credit facility with Victory Park Capital (“VPC”), a global alternative investment firm specialising in private credit. The credit facility will enable SumUp to provide advance payments to merchants based in the UK in the immediate term and in other European markets in the near future.
SumUp Cash Advance helps merchants finance their operations and seize growth opportunities for their businesses. The advances (of up to £20,000) are based on merchants’ payment history, and merchants pay back advances through payment acceptance with SumUp card readers, in a flexible and incremental manner. Furthermore, merchants pay a transparent, fixed fee for access to cash advances, and do not have to worry about encountering any hidden fees or monthly interest.




   



    
   


   








Marc-Alexander Christ
Marc-Alexander Christ, Co-Founder at SumUp, said,
“Since SumUp launched in 2012, we have witnessed a transformative evolution in merchant needs. In response, we have continually invested in new, sector-leading innovations, from pioneering hardware to cutting-edge software solutions. We are thrilled to partner with Victory Park Capital, further enabling our mission of simplifying business operations for our merchants. Our cash advance product can support business growth in a transparent and fair manner, enabling merchants to continue doing what they do best, without having to worry about accessing funds. Feedback has been positive to date; merchants appreciate the simplicity of the product, the speed of payout, and its convenient way of paying back the cash advance via card reader sales.”
Jason Brown
Jason Brown, Partner at VPC, said,
“We are dedicated to supporting forward-thinking, innovative companies that enable wider access to financing solutions for small businesses. SumUp is a global fintech leader with a data-driven approach and product suite that matches the needs of modern businesses. We are delighted to partner with SumUp as they expand their offering and provide merchants with fair and clear, short-term financing amidst a challenging market climate.”
SumUp’s cash advance product is versatile, with a wide array of applications and potential use cases: it can be used to upgrade machinery and equipment, procure vital inventory in anticipation of busy periods, support transformative renovations to revamp facilities, or capitalise on strategic growth prospects. At a time when businesses are contending with a cost-of-living crisis, the cash advance product can also be used to deal with emergencies, such as unforeseen equipment break-downs, helping to alleviate short-term pressures.


Featured image credit: Sumup
]]></description><link>https://fintechnews.eu/sumup-secures-new-us100-million-credit-facility</link><guid>3306</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Sumup Secures New US$100 Million Credit Facility</dc:text></item><item><title>PayPal Rolls Out Stablecoin Backed by U.S. Dollar</title><description><![CDATA[Global payment giant PayPal announced the launch of a U.S. dollar-denominated stablecoin which will be available to consumers, merchants and developers to seamlessly connect fiat and digital currencies.
PayPal USD (PYUSD) is backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents.
Eligible U.S. PayPal customers who purchase PayPal USD (PYUSD) will be able to transfer the stablecoin between PayPal and compatible external wallets.




   



    
   


   








They will also be able to send person-to-person payments using PYUSD, fund purchases with it at checkout, and convert any of PayPal’s supported cryptocurrencies to and from PYUSD.
PayPal USD is issued by Paxos Trust Company, a fully licensed limited purpose trust company subject to regulatory oversight by the New York State Department of Financial Services. In June 2022, PayPal was issued a BitLicense by NYDFS after previously obtaining a conditional BitLicense.
Beginning in September 2023, Paxos will publish a public monthly Reserve Report for PayPal USD that outlines the instruments composing the reserves.
Paxos will also publish a public third-party attestation of the value of PayPal USD reserve assets.
Dan Schulman
“The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar.

Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD,”
said Dan Schulman, President and CEO, PayPal.

This article first appeared on Fintech News America.

]]></description><link>https://fintechnews.eu/paypal-rolls-out-stablecoin-backed-by-us-dollar</link><guid>3305</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>PayPal Rolls Out Stablecoin Backed by U.S. Dollar</dc:text></item><item><title>Klarpay Appoints New Deputy CEO</title><description><![CDATA[Klarpay announced the appointment of Markus Emödi as the Chief Legal &amp; Compliance Officer and Deputy CEO. With a track record of over 20 years in the financial industry, Markus brings a wealth of experience and expertise to Klarpay.
Markus Emödi is a legal professional who has dedicated his career to compliance and risk management within the financial sector. His knowledge in regulatory areas such as anti-money laundering (AML), securities law, asset management, and payment transactions make him an invaluable asset to the Klarpay team.
In his new role as the Chief Legal &amp; Compliance Officer, Markus will play a key role in driving Klarpay’s operations forward and facilitating its continued growth trajectory. He will be responsible for overseeing and enhancing Klarpay’s legal and compliance functions.




   



    
   


   








Martynas Bieliauskas
“We are delighted to welcome Markus to the Klarpay team,”
said Martynas Bieliauskas, CEO of Klarpay AG.
“His extensive experience in legal and compliance will be instrumental in strengthening our company’s position and supporting our strategic goals. Markus’s expertise will contribute to our ongoing commitment to providing secure and scalable payment solutions to our clients.”
Markus Emödi
Commenting on his appointment, Markus Emödi stated,
“I am honoured to be part of Klarpay’s team and to contribute to its continued success. I look forward to working closely with the team and leveraging my experience further to enhance the company’s legal and compliance functions.”



Featured image credit: Markus Emödi, Chief Legal &amp; Compliance Office of Klarpay AG

]]></description><link>https://fintechnews.eu/klarpay-appoints-new-deputy-ceo</link><guid>3303</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Klarpay Appoints New Deputy CEO</dc:text></item><item><title>2023’s Biggest Fintech Acquisition Deals</title><description><![CDATA[The global fintech sector is witnessing a slowdown in deal activity, with companies adopting a cautious “wait-and-see” approach. In the first half of 2023, only 128 mergers and acquisitions (M&amp;A) were recorded, compared to 248 and 188 in the first and second halves of 2022, respectively, data from S&amp;P Global Market Intelligence, a provider of multi-asset class data, research and analytics, show.
Despite the contraction, firms remain interested in exploring options, preparing for potential deals when market conditions improve. According to the S&amp;P Global Market Intelligence, several fintech segments are attracting merger and acquisition (M&amp;A) interest, including payments, treasury management software and corporate carve-outs.
To get a sense of this year’s fintech M&amp;A landscape, we compiled a list of eight of the largest merger and acquisition (M&amp;A) deals in the sector announced in the first half of 2023. For this list, we used data from S&amp;P Global Market Intelligence, Fintech Global and Statista.




   



    
   


   








Adenza – US$10.5 billion

Nasdaq, a technology company serving the global financial system, announced in June that it had entered into a definitive agreement to acquire Adenza from Thoma Bravo for US$10.5 billion in cash and shares of common stock.
Adenza is a rapidly expanding software firm that provides risk management and regulatory software to the financial services industry. It was born from the merger of two recognized brands, namely Calypso and AxiomSL. Calypso provides capital market participants with comprehensive treasury, risk, and collateral management workflows, while AxiomSL offers regulatory and compliance software solutions to financial institutions.
The acquisition of Adenza is set to complement the Nasdaq’s existing marketplace technology and anti-financial crime solutions, expanding the breadth of the company’s offerings in regtech, compliance, and risk management.
With the addition of Adenza, Nasdaq is poised to provide unparalleled support to financial institutions and allow the company to establish a multi-asset class, full trade lifecycle platform with unparalleled regulatory technology solutions.
SimCorp – US$4.31 billion

Stock exchange operator Deutsche Boerse announced in April a EUR 3.9 billion (US$4.31 billion) takeover offer for Danish investment management software company SimCorp as it looks to diversify its business.
Deutsche Boerse stated that SimCorp’s services will complement its data analytics business and allow the creation of a full scope front-to-back investment management solutions segment.
The German company said that the combination will strengthen the ability of SimCorp to transform its business model and further invest in innovation to become a leading software-as-a-service (SaaS) and business-process-as-a-service (BPaaS) player for global asset owners, asset managers, and asset servicers, operating as an open platform that delivers both flexibility and operational efficiency under the strong brand name of SimCorp.
SimCorp is a renowned provider of investment management software and associated technology-enabled services. The company, which has more than 2,200 employees, posted operating profit of EUR 126 million on revenue of EUR 561 million in 2022, Reuters reported.
Network International – US$2.65 million

Brookfield Business Partners, the private equity arm of Canada’s Brookfield Asset Management, signed in June an agreement to acquire Network International for US$2.76 billion, as part of its Middle East expansion, Reuter reported.
Network International is a payment processing company based in the United Arab Emirates. The company provides a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive range of value-added services.
Network International, which listed in London in April 2019, recorded nearly US$46 billion in processed volumes for more than 150,000 merchants in 2022.
Brookfield Business Partners said it considers Network International to be a strong strategic fit with its investment focus and is uniquely positioned to create significant value for the company and its stakeholders. The firm believes that the combination could create a key platform in the attractive Middle East and Africa region’s payment ecosystem.
Brookfield Business Partners said the deal would be financed by a combination of equity investment as part of which Brookfield Business Partners expects to invest up to about US$150 million.
Duck Creek Technologies – US$2.6 billion

In January, insurtech provider Duck Creek Technologies announced that it had entered into a definitive agreement to be acquired by global investment firm Vista Equity Partners in an all-cash transaction valued at approximately US$2.6 billion.
The purchase price of US$19 per share for Duck Creek Technologies represented a 46% premium to its closing stock price on January 06, 2023 – the last full trading day prior to the transaction announcement
Duck Creek Technologies is a pioneering solutions provider transforming the property and casualty (P&amp;C) and general insurance industry. The company provides a platform that modern insurance systems can be built upon, empowering the industry to leverage the cloud’s power for agile, intelligent, and evergreen operations.
Duck Creek Technologies’ customers include Berkshire Hathaway Specialty Insurance and American International Group. The acquisition by Vista Equity Partners will aim to strengthen the company’s market position.
Sumo Logic – US$1.7 billion

In May, global investment firm Francisco Partners completed its acquisition of Sumo Logic, a SaaS analytics platform. The acquisition deal, announced in February, involved Francisco Partners purchasing all outstanding shares of Sumo Logic common stock for US$12.05 per share in cash, valuing the company at an aggregate equity valuation of approximately US$1.7 billion.
Sumo Logic, through its platform, enables customers to deliver cloud-native applications. The Sumo Logic Continuous Intelligence Platform helps practitioners and developers ensure application reliability, secure and protect against modern security threats, and gain insights into their cloud infrastructures.
Through the transaction, Sumo Logic became a private company with enhanced ability to expand its market opportunity, innovate on its critical solutions, accelerate growth, and further its vision, the company said in a statement.
MosaicML – US$1.3 billion

Databricks, a company specializing in data and artificial intelligence (AI), announced in June that it had entered into a definitive agreement to acquire MosaicML, a top-tier generative AI platform. The transaction, valued at approximately US$1.3 billion, includes retention packages.
MosaicML is known for its state-of-the-art MPT large language models (LLMs). With over 3.3 million downloads of MPT-7B and the recent release of MPT-30B, MosaicML has demonstrated how organizations can efficiently and economically build and train state-of-the-art models using their own data. Clients such as the Allen Institute for AI (AI2), Generally Intelligent, Hippocratic AI, Replit, and Scatter Labs use MosaicML for various generative AI applications.
Together, Databricks and MosaicML will strive to democratize generative AI and allow every organization to build, possess, and secure generative AI models using their own data. The combination of Databricks’ Lakehouse Platform with MosaicML’s technology will offer customers a straightforward, fast method to maintain control, security, and ownership over their valuable data without incurring high costs, the companies said in a statement.
Combined, these capabilities will deliver a platform robust enough to serve the world’s largest organizations and flexible enough to address a broad range of AI use cases, they added.
Paya – US$1.3 billion

In January, Canadian fintech company Nuvei Corporation announced that it had entered into a definitive agreement to acquire US payment firm Paya in an all-cash transaction valued at approximately US$1.3 billion.
The acquisition, completed in February, aims to enhance Nuvei Corporation’s ability to execute on high-growth integrated payment opportunities, diversify its business across high-growth, underpenetrated and non-cyclical end markets, and expand its capabilities into large and growing business-to-business (B2B) segment, the companies said in a statement.
Paya is a top provider of payment processing in the US, serving more than 100,000 customers through over 2,000 key distribution partners. The company, which processes about US$50 billion in annual payment volume across credit/debit card, direct payments, and checks, focuses on targeted, high-growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B end markets.
The deal will seek to create a powerful synergy between Nuvei and Paya, as they are complementary in terms of geographies, capabilities, and the end-markets and verticals they serve, the companies said.
Nuvei and Paya are highly complementary with respect to geographies, capabilities to offer to customers and partners, and the end-markets and verticals that each currently serve.
Pismo – US$1 billion

In June, global payment processor Visa announced that it had signed a definitive agreement to acquire Pismo, a Brazilian cloud-native issuer processing and core banking platform, for US$1 billion in cash.
This deal is significant as it marks the largest fintech exit in Latin America since Nubank’s public offering in 2021, and the largest disclosed startup exit of the year, according to Reuters.
The acquisition will position Visa to provide comprehensive banking and issuer processing capabilities across debit, prepaid, credit, and commercial cards through Pismo’s cloud native APIs, Visa said in a release. Additionally, Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment rails and real-time payment systems, like Pix in Brazil, for financial institution clients.
Pismo, a technology company, brings a wealth of experience in developing and implementing banking and card solutions for digital banks and large financial institutions. Its investors include notable names such as Redpoint eventures, Softbank, Amazon, and Accel. The company’s cloud platform, which handles more than 70 million accounts and transacts over US$200 billion annually, allows clients to issue Visa and Mastercard cards.

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/2023s-biggest-fintech-acquisition-deals</link><guid>3304</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>2023’s Biggest Fintech Acquisition Deals</dc:text></item><item><title>Top 8 Most Well-Funded Fintech Companies in the USA</title><description><![CDATA[The US holds a prominent position in the global fintech scene and is considered one of the leading countries in fintech innovation, investment and market size.
The country possesses the most mature innovation ecosystem in terms of venture capital (VC) firms, entrepreneurs, talent pools, universities, and access to funding, and is home to the largest financial services industry in the world.
The US is expected to remain a critical fintech market and innovation hub this year onwards, with Boston Consulting Group projecting that the country will account for 32% of global fintech revenue growth through 2030.




   



    
   


   








In light of the US’s sustained dominance in the global fintech scene, we look today at the country’s biggest and most successful fintech companies, delving into the US’s most well-funded fintech companies in terms of VC funding. These companies are pioneers in their respective sectors, driving innovation, challenging traditional financial institutions and capturing the attention of investors.
Stripe – US$9 billion

Founded in 2010 and headquartered in San Francisco, Stripe is a technology company that provides online payment processing services and software tools for businesses. Stripe offers a platform that allows businesses to accept and manage online payments, providing a suite of application programming interfaces (APIs) and developer tools that enable businesses to integrate payment processing functionality into their websites and applications.
The infrastructure allows merchants to accept various payment methods, including credit cards, debit cards, and digital wallets like Apple Pay and Google Pay, and supports transactions in multiple currencies. It also come with advanced security features to help businesses protect against fraud and data breaches.
Stripe is currently the most valuable fintech companies in the world, worth US$50 billion. The company secured its last round in March 2023, raising a staggering US$6.5 billion and bringing its total funding to about US$9 billion, according to data from CB Insights and Dealroom.
Chime – US$2.6 billion

Founded in 2012 and headquartered in San Francisco, Chime operates a mobile banking platform, providing customers with access to various financial services through its mobile app and website. These services are provided by The Bancorp Bank or Stride Bank.
One of the primary features of Chime is its fee-free checking account. The account comes with a Visa debit card and does not have monthly maintenance fees, overdraft fees, nor minimum balance requirements.
Chime also offers a savings account with an automatic savings feature that allows customers to round up their purchases to the nearest dollar and have the difference automatically transferred to their savings account.
The app comes with financial management tools, such as transaction alerts, balance notifications, and a daily spending summary, in addition to a feature called SpotMe, which allows customers to go overdrawn without penalty.
Chime is the third most valuable fintech company in the world and is worth US$25 billion, according to CB Insights. The company has secured a total of US$2.6 billion in funding. Its latest round was a US$750 million financing round closed in August 2021.
Brex – US$1.2 billion

Founded in 2017 and headquartered in San Francisco, Brex provides an unified global spend platform, bringing together corporate cards, expense management, reimbursements, bill pay, and travel, all into one place.
The company’s corporate credit cards are designed specifically for the needs of startups and small and medium-sized enterprises (SMEs) and come with various features and benefits, including expense management tools, integration with accounting software, and streamlined workflows for tracking and categorizing expenses. The cards also offer higher credit limits than what traditional banks typically provide to early-stage companies.
Additionally, Brex offers a range of financial services beyond credit cards such as cash management accounts, expense tracking and reporting tools, rewards programs, access to business financing solutions, as well as an integrated travel solution with comprehensive booking and spend management capabilities.
Brex has raised US$1.2 billion in venture capital (VC), according to TechCrunch, including US$300 million in early 2022 at a US$12.3 billion valuation.
GoodLeap – US$1 billion

Founded in 2003 and based in Roseville, California, GoodLeap is a sustainable home solutions marketplace. The company provides simple, fast, and frictionless point-of-sale (POS) technology for mission-driven professionals serving millions of people who want to upgrade their homes and save money.
GoodLeap’s platform offers flexible ways for consumers to pay for a wide range of sustainable products, including solar panels, battery storage, smart home devices, modern HVAC systems, energy efficient windows, upgraded roofing, water-saving turf, and more.
The platform is actively used by more than 18,000 home improvement professionals, creating an efficient channel for financial institutions to deploy capital in high-performing environmental, social and governance (ESG) assets. The company claims its platform has mobilized over US$19 billion financing for sustainable upgrades since 2018.
GoodLeap has raised more than US$1 billion in funding and is valued at US$12 billion, the Wall Street Journal reported in late-2021. Its latest round was a US$800 million investment secured in October 2021.
Fireblocks – US$1 billion

Founded in 2018 and headquartered in New York, Fireblocks is an enterprise-grade platform delivering an infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to build innovative businesses on the blockchain and securely scale digital asset operations through patent-pending SGX and MPC technology.
Fireblocks is trusted by some of the most recognized banks and financial institutions in the world to bring their digital asset strategies to production, including BNY Mellon, BNP Paribas, ANZ Bank, NAB, ABN AMRO, BTG Pactual, Tel Aviv Stock Exchange, and SIX Digital Exchange.
These institutions have leveraged Fireblocks to build new digital asset custody, trading, clearing and settlement services, tokenization of financial products such as tokenized fiat, central bank digital currencies (CBDC), carbon credits, and more. The company claims it has secured the transfer of over US$4 trillion in digital assets.
Fireblocks has raised US$1 billion in funding, data from Dealroom and CB Insights show, including US$550 million in January 2022 at a US$8 billion valuation.
Bolt – US$963 billion

Founded in 2014 and headquartered in San Francisco, Bolt provides an e-commerce platform and checkout solution for online businesses. Bolt aims to simplify the online shopping experience by offering a seamless and optimized checkout process. Their platform integrates with e-commerce websites, providing a range of features and functionalities to enhance the checkout flow and improve conversion rates.
Key features of the Bolt platform include one-click checkout, advanced fraud detection technology, a customizable checkout design, and analytics and insights. The company also offers is own payment processing solutions, allowing businesses to accept various payment methods, including credit cards and digital wallets.
Bolt has raised nearly US$1 billion in funding, including a US$355 million Series E secured in January 2022 at a US$11 billion.
Plaid – US$734.8 million

Headquartered in San Francisco and founded in 2013, Plaid offers a platform and API suite that enables developers to connect their applications with users’ financial accounts.
Plaid’s primary focus is to facilitate secure and reliable access to financial data and services. The company’s platform acts as an intermediary between applications and financial institutions, allowing developers to build applications that interact with users’ bank accounts, credit cards, and other financial accounts. Key services and features provided by Plaid include account connectivity, transaction data and analytics, payment initiation, identity verification, as well as developer tools and integrations.
Plaid’s network covers 12,000 financial institutions across the US, Canada, UK and Europe. The company says it works with thousands of companies including Venmo, SoFi, and Betterment, several of the Fortune 500, as well as many of the largest banks.
Plaid has raised about US$734 million in funding, data from CB Insights and Dealroom show. The company is valued at US$13.5 billion. Its last round was a US$425 million Series D secured in April 2021.
Gusto – US$700 million

Launched in 2012 as ZenPayroll, Gusto provides a cloud-based payroll, benefits, and human resource (HR) management software for business based in the US. Gusto handles payments to employees, and contractors, and also handles electronically the paperwork necessary to help client companies comply with tax, labor, and immigration laws.
Some key features and offerings of the Gusto platform include payroll processing, employee benefits administration, compliance and tax filings, HR tools, as well as integration with other popular business tools and platforms.
Gusto has gained popularity among small businesses for its user-friendly interface, automated processes, and comprehensive payroll and HR solutions. By simplifying complex payroll and HR tasks, Gusto helps businesses save time, reduce errors, and focus on their core operations. The company claims it serves more than 300,000 businesses nationwide.
Gusto has raised more than US$700 million in funding so far, data from CB Insights and Dealroom show. Its latest round was a US$55 million Series E extension closed in May 2022.

This article first appeared on fintechnews.am

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/top-8-most-well-funded-fintech-companies-in-the-usa</link><guid>3301</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Top 8 Most Well-Funded Fintech Companies in the USA</dc:text></item><item><title>Top 17 Fintech Events Taking Place in North America in Q3 2023</title><description><![CDATA[The fintech sector in North America has experienced robust growth and rapid evolution over the past years, driven by technological advancements, regulatory changes, and shifts in consumer behavior.
In the US, fintech companies have been instrumental in shaping the future of finance, with companies like Stripe, Square, and Robinhood transforming the landscape of payments, investing, and business finance.
In Canada, though the fintech industry is much smaller compared to the US, the scene is growing and evolving rapidly. Toronto, in particular, has become a notable fintech hub, with a robust ecosystem of startups, financial institutions, and supportive government policies.




   



    
   


   








As technology continues to transform the way we conduct transactions, manage money, and navigate the financial landscape, a plethora of events are being organized across the continent to help industry professionals connect, share insights, and stay ahead of the curve.
In this article, we present a list of the top upcoming fintech events across North America in Q3 2023. These events cover a broad spectrum and offer a golden opportunity for attendees, from seasoned industry professionals to nascent startups and curious stakeholders, to engage with the latest trends, technologies, and strategies driving the fintech sector.
Canada Crypto Week
August 13 – 19, 2023
Toronto, ON, Canada

The annual Canada Crypto Week, taking place this year from August 13 to 19, 2023 in Toronto, Ontario, is a week-long celebration designed to showcase Canada’s commitment to innovation, collaboration, and responsible growth in the blockchain and Web 3.0 sectors.
This year’s event is set to feature over 45 diverse events that will exhibit Canada’s burgeoning Web 3.0 ecosystem and is expected to attract more than 10,000 attendees.
Throughout the week, attendees will have the opportunity to network, share knowledge, and collaborate while exploring the potential and impact of blockchain technology.
The highlight of Canada Crypto Week is the Blockchain Futurist Conference, taking place on August 15 and 16, 2023. This conference, in its fifth year, has become Canada’s largest event dedicated to Web 3.0, cryptocurrency, and blockchain technology, hosted at the Rebel Entertainment Complex and Cabana Pool Bar. Over 100 global speakers will convene and discuss trends, partnerships, research, and future predictions, making the conference a melting pot of insights and innovation.
Other notable events of the 2023 Canada Crypto Week will include the Crypto Ecosystem Night, an immersive non-fungible token (NFT) gallery experience, Women’s Breakfast, and the Developer Decentralization Event. Activities for kids, VIP events, meetups, and hackathons will further diversify the event portfolio.
Vencent Fintech Summit
August 14 – 15, 2023
Little Rock, AR, USA


The Vencent Fintech Summit, taking place on August 14 and 15, 2023, in Little Rock, Arkansas, is set to amass global banking industry leaders, innovators, and influencers to explore the latest technological developments shaping the financial sector.
The focus of this year’s summit is the intersection of technology and the future of the financial industry. Participants will gain insights into banking innovation strategies and best practices for dealing with rapidly evolving technologies, as well as experience intensive live demonstrations and networking opportunities.
Knowledge sharing will cover hot topics like cryptocurrency, banking-as-a-service (BaaS), and cybersecurity. Delegates will have the chance to delve into what’s coming next in fintech and digital transformation, exploring strategies to keep up with the pace of change.
A highlight of Vencent is the announcement of “The Finny” winner, a trophy which recognizes the financial institution that exemplifies innovation and strategic excellence in the field.
Register now: https://www.vencentsummit.com/
Fintech_Devcon 2023
August 23 – 25, 2023
Austin, USA

Fintech_Devcon is the annual developer conference of fintech company Moov. The annual stands apart from other industry events with its distinct focus on developers, and encourages participation not just from seasoned speakers but also those with unique fintech stories waiting to be heard. The platform fosters a favorable setting for debutants to share their insights and experiences, enhancing their credibility while boosting confidence.
This year’s conference, taking place from August 23 to 25, 2023, is set to feature over fifty hours of hands-on developer workshops and talks from leaders at developer-first fintech companies, offering opportunities for developers, investors, executives, and anyone passionate about fintech to connect, share, learn, and shape the future of financial services.
2023 Fintech Growth Summit
August 24 – 25, 2023
Miami, FL, USA


The 2023 Fintech Growth Summit, taking place on August 24 and 25, 2023, promises to offer an intimate two-day event where fintech and growth meet. Participants will get to learn from industry experts as they explore the opportunities and challenges facing payment processing, fraud and risk management, lending, Web 3.0, NFTs and more.
DeFi Retreat US 2023
August 29 – 30, 2023
The William Vale, 111 N 12th St, Brooklyn, NY, USA

DeFi Retreat US 2023, the 3rd annual Chatham House gathering for traditional finance (TradFi) and decentralized finance (DeFi) leaders and professionals in the US, will take place on August 29 and 30, at the William Vale in Brooklyn, New York. This exclusive, limited seating event – only 175 passes available – promises an intimate setting for insightful discussions around finance and technology.
DeFi Retreat is a prestigious annual series in the US, bringing together an eclectic group of thought leaders: executives, investors, regulators, entrepreneurs, and professionals from the finance and technology sectors. It provides an invaluable opportunity to engage in intimate networking sessions and participate in candid, off-the-record conversations.
The retreat is designed to facilitate dialogues about the latest innovations, opportunities, and challenges surrounding the confluence of crypto, Web 3.0, DeFi, and TradFi. It offers a unique chance to understand the current landscape, foresee trends, and connect with leading minds in the industry.
Get your pass here: https://www.tetevents.com/ticket?slug=defi-retreat-23
Sustainable Finance Summit 2023
September 06, 2023, 8:00 – 16:30
EY Tower, 40th Floor, 100 Adelaide St W, Toronto, ON, Canada

The Canadian Lenders Association is presenting the Sustainable Finance Summit 2023. The event anticipates over 700 participants, including lenders, fintech companies, banks, credit unions, investors, and industry experts, all united by the goal of advancing sustainable finance in Canada. With sessions focusing on burgeoning sectors like buy now, pay later (BNPL), auto, cards, mortgages, and more, the event promises an in-depth exploration of key industry trends.
Dubbed as Canada’s main sustainable finance gathering, the summit will assemble hundreds of fintech firms, banks, and financial services executives. They will delve into the impact of emissions measurement mandates on lending practices and explore ways to promote sustainable finance in Canada.
Annual Conference and Tech Forum 2023
September 10 – 13, 2023
Hyatt Regency Atlanta, 265 Peachtree St, Atlanta, GA, USA


The Annual Conference and Tech Forum 2023, hosted by MAG, will occur from September 10 to 13, 2023, at the Hyatt Regency in Atlanta. This event is a premier opportunity to delve into the latest trends in the payments industry, presented by leading industry voices.
One of the integral parts of the conference is the Tech Forum. Designed specifically for payment IT professionals, the Tech Forum 2023 will explore the technology that underpins the rapidly evolving payments landscape. Its aim is to foster connections between merchant IT professionals, business partners, and technology sponsors. Participants can expect a plethora of technology-focused educational sessions and engaging networking events.
Permissionless II
September 11 – 13, 2023
Austin, TX, USA


Permissionless II, taking place in Austin, Texas from September 11 to 13, 2023, will bring together DeFi builders, decentralized autonomous organization (DAO) participants, protocol developers, crypto companies, funds and institutions, and more.
After the turbulence of 2022, Permissionless II will provide industry participants with the chance to seize the opportunity and shift the tide. With an audience of over 7,000 crypto enthusiasts and builders, the event promises to foster an environment that embodies the ethos, electricity, and excitement of crypto and Web 3.0.
The three-day experience will be packed with keynotes from Web 3.0 leaders, meticulously curated panels and networking events. It will feature the biggest names in Web 3.0, a gargantuan exposition hall filled with the top brands in the space, an awe-inspiring NFT gallery, inclusive, community-focused parties and events, metaverse experiences, and so much more.
FinovateFall
September 11 – 13, 2023
The Marriott Marquis Times Square, New York, USA


FinovateFall, the ultimate nexus for global fintech and paytech companies, startups, banks, financial institutions, and all players in the fintech ecosystem, will take place this year from September 11 to 13, 2023, at The Marriott Marquis Times Square, New York.
Renowned for spotlighting the latest fintech advancements, FinovateFall stands apart with its commitment to showcasing authentic, ground-breaking tech in short, punchy, and informative sessions.
This year’s event promises to feature 70+ trailblazing technologies from startups to industry veterans, setting the record for the most live fintech demos under one roof. Shunning traditional formats, the pre-selected companies will demonstrate their innovations without the crutch of pre-planned PowerPoint presentations or pre-recorded videos.
Fintech South 2023
September 12 – 13, 2023
Georgia World Congress Center, Hall C, 285 Andrew Young International Blvd NW, Atlanta, GA, USA


Fintech South, a premier fintech summit, will take place this year on September 12 and 13, at the Georgia World Congress Center in Atlanta. Located in Atlanta, a global fintech hub that boasts over 200 fintech companies, the event promises an unrivaled, immersive experience designed to help industry participants navigate the rapidly evolving fintech landscape.
This year, Fintech South 2023’s theme is “Reliability | Innovation | Transparency,” showcasing the core values shaping the future of fintech. The summit will host 100+ speakers, all sharing insightful perspectives on the most impactful trends and providing practical guidance on thriving in a fast-paced sector.
Participants will get to engage in vibrant discussions and enriching content across the Fintech South Mainstage and Deep Dive Track Sessions. These sessions will cover a wide array of topics, including artificial intelligence (AI), payments innovation, blockchain and Web 3.0, financial health and inclusion, money management, identity and fraud, banking innovation, business-to-business (B2B) fintech, and the future of commerce.
Sibos 2023
September 18 – 21, 2023
Metro Toronto Conventions Centre (MTCC), 255 Front Street West, Toronto, ON, Canada


Sibos, the flagship financial services event hosted by Swift, will take place this year from September 18 and 21 at the Metro Toronto Conventions Centre, Toronto, Canada.
This year, the annual conference and exhibition will explore the theme of “Collaborative finance in a fragmented world.” This theme will drive insightful conversations, bringing together thousands of participants to discuss issues such as creating a sustainable and inclusive financial industry, managing risk in uncertain economic and geopolitical times, and striking the balance between technology and trust.
Attendees will get to hear from hundreds of expert speakers who will provide in-depth analysis on these crucial issues. In addition to the compelling conference agenda, more than 180 exhibitors will be featured, and numerous networking events will take place, providing opportunities to connect with industry peers from around the globe.
Silicon Valley Funding Summit
September 18, 2023, 10:00 – 19:00 PDT
2266 California Street, San Francisco, CA, USA


Silicon Valley Funding Summit, an annual event for startup founders and angel investors, will be hosted on September 18, 2023 in San Francisco, providing tech entrepreneurs and investors with the opportunity to meet and connect.
The summit aims to offer a platform that connects multi-million dollar investors with global startups for funding and deal-making, bridging the gap between tech and non-tech enterprises.
The event is open to seed, early-stage, and Series A and B startups, offering them a chance to pitch to more than 150 venture capital (VC) firms and angels across diverse sectors, including fintech, Web 3.0, healthcare, and real estate.
Startups or vendors can exhibit in the Demo Showcase area to maximize exposure, meet investors, partners, and customers for deal-making. The Demo Showcase is open for a 30-minute period after the pitch session and one hour for the networking reception, facilitating one-on-one meetings.
TechCrunch Disrupt 2023
September 19 – 21, 2023
The Moscone West, 800 Howard St, San Francisco, CA, USA


TechCrunch Disrupt 2023, a three-day conference focused on the latest breakthroughs and developments in technology, will take place from September 19 to 21, 2023, at The Moscone West in San Francisco, California.
Each year, TechCrunch Disrupt gathers thought leaders who are making significant waves in the tech industry, providing an extensive platform for networking, discovery, and engagement within the tech ecosystem. The event is known for its Startup Battlefield 200, where 200 hand-picked, early-stage startups exhibit their latest developments and innovations.
In Startup Battlefield, a select group of startups from the 200 exhibitors will compete for the coveted Disrupt Cup, a US$100,000 prize, and the attention of media and investors. It is noteworthy that Startup Battlefield alumni have collectively raised over US$9 billion and experienced over 100 exits since their presentations on the TechCrunch Disrupt stage.
Conference attendees can look forward to various industry tracks and stages, including the Fintech Stage, which will delve into the evolution of monetary exchanges and the technology driving new ways of capturing and distributing value and wealth; the Sustainability Stage, where participants will get to learn about emerging technologies transforming engagement with the environment and societal impact; and the AI Stage, which will explore the rapidly expanding capabilities and potential of AI, including its science, the products it powers, and the ethical, social, and legal challenges the technology presents.
Canada Fintech Forum 2023
September 25 – 27, 2023
Fairmont, The Queen Elizabeth, Montreal, QC, Canada


The Canada Fintech Forum is a landmark international gathering that aims to showcase emerging global trends in fintech, new technology solutions for the financial industry and emerging fintech startups.
The forum also aims to facilitate networking and collaboration between financial institutions, technology providers, startups and other key players in the financial services sector, as well as contribute to the visibility of Canada’s fintech talent.
Global Insurtech Summit USA 2023
September 26, 2023
360 Madison, New York, NY, USA


The Global Insurtech Summit USA is a premier gathering for insurance executives and technology innovators looking to shape the future of the insurance industry. Organized by Fintech Global since 2019, the event has become a hotspot for the industry’s most active insurtech buyers, sellers, investors, and innovators.
This year’s summit will be held on September 26, 2023, at 360 Madison, New York, NY, USA. Participants will get the chance to engage with insurance company leaders driving digital transformations within their organizations, build high-impact business connections that will help them achieve their business objectives, stay abreast of the latest innovations in digital insurance at the dedicated Demo Stage and understand the potential impact of insurtech on their organization, and understand the strategic, operational, and distribution challenges faced by insurers and see how market leaders are collaborating with insurtech innovators to implement changes for future success.
The Trading Show Chicago
September 27 – 28, 2023
Navy Pier, 600 East Grand Avenue, Chicago, IL, USA


The Trading Show is an exhibition for automated trading and exchange technologies, which takes place once a year in Chicago.
At this fair, exhibitors present the latest technologies and innovations from the automated and exchange trade starting with trading networks, trading software and online platforms up to market analysis systems, quality assurance systems, devices for electronic trading and real-time financial systems.
The exhibition is accompanied by a conference which is divided into four subject areas: quant world, big data, exchange technologies and automated trading.
This year’s Trading Show will take place on two days on September 27 and 28, 2023, in Chicago.
Book your free pass here: https://secure.terrapinn.com/
Global Regtech Summit USA 2023
September 28, 2023
Convene, 117 West 46th Street, New York, NY USA


The Global Regtech Summit USA is a top-tier event bringing together financial industry leaders, regtech innovators, and key decision-makers in the field of compliance and risk management. Organized by Fintech Global, the event aims to address the major challenges and opportunities in the ever-evolving regulatory technology landscape.
At this year’s summit, attendees will get the opportunity to engage with senior-level professionals working in compliance, risk management, technology, fraud prevention, and information security; connect with the most active regtech buyers, sellers, investors, and innovators in the industry to foster high-impact business relationships; stay updated with the latest industry innovations by visiting the dedicated Demo Stage; and understand the strategic and compliance issues faced by financial institutions and learn how market leaders are partnering with regtech innovators to gain a competitive edge.

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/top-17-fintech-events-taking-place-in-north-america-in-q3-2023</link><guid>3302</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Top 17 Fintech Events Taking Place in North America in Q3 2023</dc:text></item><item><title>LUKB’s New Crypto Offering to Be Powered by Sygnum, Fireblocks, and Wyden</title><description><![CDATA[Switzerland’s Luzerner Kantonalbank (LUKB) has joined forces with Sygnum, Fireblocks, and Wyden for a fully integrated solution for trading, custody, and transaction monitoring of crypto assets to its 300,000 clients.
Sygnum is the world’s first digital asset bank, Fireblocks, is an enterprise-grade digital asset operations and direct custody technology provider, and Wyden, is an institutional digital asset trading technology provider.
The setup will be seamlessly integrated into LUKB’s core banking system and offers complete automation of the entire crypto asset lifecycle.




   



    
   


   








LUKB, a fully licensed universal bank, plans to offer crypto assets to its clients by the end of 2023 at the earliest.
Marcel Hurschler
Marcel Hurschler, CFO at LUKB said,
“Luzerner Kantonalbank AG continues to support its customers as a reliable partner and with innovative solutions. That’s why we have worked intensively on digital assets and built up inhouse expertise.

We are currently developing a customer solution for the secure custody, transfer and trading of crypto and digital assets, and plan to launch our offering at the end of 2023 at the earliest. Sygnum, Wyden and Fireblocks are providing us with crucial technology for our development, and we are looking forward to working with them.”
Mathias Imbach
Mathias Imbach, Co-founder and Group CEO of Sygnum said,
“The market entry of LUKB is further proof of the rapid institutional adoption of digital assets and will provide secure and compliant access to digital assets to a broader part of the Swiss population.

Luzerner Kantonalbank’s strategic partnership with industry leaders Sygnum Bank, Fireblocks and Wyden clearly demonstrates the strength of institutional-grade technology providers joining forces in Switzerland and beyond.”



Featured image credit: (from L-R) Mathias Imbach, Sygnum Co-Founder and Group CEO, Fireblocks CEO, Michael Shaulov, Wyden CEO Andy Flury and Marcel Hurschler, CFO at LUKB

]]></description><link>https://fintechnews.eu/lukbs-new-crypto-offering-to-be-powered-by-sygnum-fireblocks-and-wyden</link><guid>3299</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>LUKB’s New Crypto Offering to Be Powered by Sygnum, Fireblocks, and Wyden</dc:text></item><item><title>Ryta Zasiekina Sells FYST, Relinquishes Her CEO Position</title><description><![CDATA[The deal for an undisclosed fee, sealed in the beginning August marks a new chapter in Zasiekina’s career as she leaves the CEO position at FYST. Following a continuous investor interest in a swiftly growing payment consultancy firm, operating in a market projected to reach an impressive $250trillion by 2027, the sale also doesn’t come as a surprise.
A qualified engineer, Ryta Zasiekina spent around a decade in payments and banking industry consulting. As an independent entrepreneur and business advisor Ryta specialises in general e-commerce and FinTech business consulting, payment processing, alternative payment methods, risk management and anti-fraud.
Originally from Ukraine, she has gained a market reputation as a dynamic decision-maker and a skilled negotiator, widely regarded in the industry thanks to the multitude of international connections.




   



    
   


   








In 2021 Ryta obtained her MBA degree themed around AI and cybersecurity in fraud fighting. Soon after she had to leave her homeland due to the war and settled in Riga, Latvia, where she started FYST. The project launch appeared to be timed perfectly since the major pandemic shift in consumer habits led to a double digit growth in ecommerce across the globe.
According to Kantar, the share of consumers that do 50% or more of their total number of purchases online has increased dramatically in all three of Europe’s biggest e-commerce markets. Six out of ten consumers say that they will continue to buy as much online as they do today after the pandemic has passed. This subsequently led to increase of the competition among the market players.
Born from a desire to help merchants across all sectors of ecommerce make quantifiable impacts in the online space FYST has quickly emerged as one of the key industry players. A one-stop cross-border payments and banking consultancy assisted merchants by offering a one-of-a-kind combination of flexible digital payments solutions, banking connections and technology guidance, regulatory compliance and AML advisory services from its young and skilled team.
With its revenue-centric ethos, FYST is focused on taking the complexity out of cross-border payments. They assist e-commerce businesses in liaising with smart acquiring and processing services, managing relationships with international payment schemes, and navigating an abundance of global banking relationships to ensure fast, flexible, and cost-effective cross-border payments.
FYST brings together leading payment and fintech innovators under one brand to help businesses in all sectors navigate the fast-growing cross-border e-commerce market, combining unparalleled technical ingenuity, in-depth tailored advice to help fledgling businesses scale up successfully, and easy access to more than 70 global payment methods.
Ryta Zasiekina
Commenting on her decision Ryta Zasiekina concluded:
“The past 12 months at FYST will certainly remain along the proudest moments of my career. FYST was very successful in helping businesses unlock new opportunities in the fast-evolving e-commerce space. And we have assembled a diverse team of industry innovators and great individuals who understand the importance of payments and who are at the heart of business growth. I’m very grateful to each and everyone of them for helping me along the way.“


Featured image credit: Ryta Zasiekina, CEO FYST
]]></description><link>https://fintechnews.eu/ryta-zasiekina-sells-fyst-relinquishes-her-ceo-position</link><guid>3300</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Ryta Zasiekina Sells FYST, Relinquishes Her CEO Position</dc:text></item><item><title>Cybersecurity Mastercard-Studie Schweiz: Nicht alle Finanzunternehmen schützen sich ausreichend</title><description><![CDATA[Im Schweizer Finanzsektor variiert der Grad der Cybersicherheit zwischen Unternehmen erheblich. Das ergab die heute veröffentlichte Analyse von Mastercard, die von einer Outside-in Perspektive automatisiert den Sicherheitsgrad von Domains von Schweizer Finanzdienstleistern mithilfe der Mastercard-Lösung RiskRecon analysierte.
Nie war Cybersicherheit wichtiger und wurde breiter diskutiert als heute. Die Digitalisierung aller Branchen – Privatwirtschaft wie staatliche Verwaltungen – schreitet immer schneller voran und macht sie in diesem Bereich angreifbarer und schutzbedürftiger. Die Finanzbranche ist dabei ein besonders attraktives Ziel. So liegt es in ihrem Interesse, auf bestehende und kommende Cyberbedrohungen vorbereitet zu sein. Gleiches gilt für die Schweiz insgesamt als einen der weltweit wichtigsten Finanzplätze.
Ausprägung von Sicherheitsmerkmalen nach Bereich und Finanzsektor
Innerhalb des heute veröffentlichten Whitepapers zur Cybersicherheitslage in der Schweiz zeigt sich jedoch, dass 54 Prozent der untersuchten Unternehmen die höchste Sicherheitsbewertung A (8,5 bis maximal mögliche 10 Punkte) erhielten, 7 Prozent dagegen nur die Bewertung C (5,5 bis 6,9 Punkte) wegen wesentlicher Sicherheitsprobleme. Die Haupterkenntnisse:




   



    
   


   









20 Prozent der analysierten Unternehmen führten auf mindestens einem System ungepatchte Versionen von Anwendungsservern aus, die als grosse oder sogar kritische Schwachstellen eingestuft wurden. Damit bieten sie Bedrohungsakteur:innen einen leicht zugänglichen Einstiegspunkt.
30 Prozent zeigten grosse oder kritische Probleme, die sich auf Schnittstellen des Content-Management-Systems (CMS) zurückführen liessen. Meist waren sie von jedem Gerät aus zugänglich und erforderten nur einen Benutzernamen und ein Passwort zur Authentifizierung ohne weitere Schutzmassnahmen.
46 Prozent der analysierten Finanzdienstleister wiesen zumindest punktuell grosse oder kritische Schwachstellen im Netzwerkfilterbereich auf. Cyberkriminelle können hier durch Methoden wie das Erraten von Anmeldeinformationen, das Abfangen von Kommunikation und das Ausnutzen von Schwachstellen kompromittieren.

Hauptakteure bei Cyberattaken: Finanzhacker:innen, politisch motivierte Cyberkriminelle und Aktivist:innen
Arten von Bedrohungsakteur-innen
Mastercard wertete zusätzlich mit ihrer Cyberquant-Platform 5935 Meldungen zu Cybervorfällen zwischen dem ersten Quartal 2021 und dem zweiten Quartal 2022 aus. Sie zeigten, dass die Cyberangriffe in der Schweiz vor allem auf drei Gruppen zurückgeführt werden können: Finanzhacker:innen (49 Prozent), politisch (staatlich) motivierte Cyberkriminelle (32 Prozent) und Aktivist:innen (12 Prozent). Sie setzen dabei, entsprechend ihrer Motive und Ziele, unterschiedlichste Methoden ein, die in der Studie ausgeführt werden. Am häufigsten waren Ransom- und Malware-Angriffe.
Daniela Massaro
«Die Entwicklung noch stärker hin zum Digitalen hat enorme Vorteile, schafft aber auch eine noch attraktivere Umgebung für Cyberkriminelle»,
sagt Dr. Daniela Massaro, Country Manager Switzerland bei Mastercard.
«Wir bei Mastercard stellen unser Netzwerk entsprechend zukunftssicher auf. Dazu gehört, Cybersicherheit ganzheitlich anzugehen, KI und all unsere Erfahrung dafür zu nutzen. Damit gewährleisten wir den Schutz unserer Kund:innen und das Vertrauen aller Beteiligten im Geschäfts- und Zahlungsprozess.»
Cybersicherheit organisatorisch auf höchster Ebene ansiedeln
Aus der Studie leitet Mastercard mehrere Empfehlungen ab: Unternehmen und Behörden sollten den Bereich Cybersicherheit wegen seiner besonderen Bedeutung organisatorisch auf höchster Ebene ansiedeln und separat budgetieren (bisher durchschnittlich weniger als zehn Prozent des IT-Budgets). Die häufigsten Risiken und Angriffsmethoden sollten gezielt und aktuell in internen Trainings vermittelt und damit verbundene Geschäftsrisiken und Erfolgschancen durchgehend berücksichtigt werden.

]]></description><link>https://fintechnews.eu/cybersecurity-mastercard-studie-schweiz-nicht-alle-finanzunternehmen-schutzen-sich-ausreichend</link><guid>3297</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/08/Auspragung-von-Sicherheitsmerkmalen-nach-Bereich-und-Finanzsektor-1024x405.png?x30842</dc:content ><dc:text>Cybersecurity Mastercard-Studie Schweiz: Nicht alle Finanzunternehmen schützen sich ausreichend</dc:text></item><item><title>Switzerland Sees Blossoming Digital Asset Custody Ecosystem: Study</title><description><![CDATA[Switzerland has established itself as a global leader in the custody of digital assets, a position the country has gained thanks to a conducive regulatory framework that’s encouraging innovation and diversity, a new report by industry trade group Home of Blockchain.swiss says.
The Swiss Digital Asset Custody Report 2023, released in June, provides an overview of the digital asset custody landscape in Switzerland, focusing on the services offered by various providers, their licensing status, and the types of storage they use.
In particular, the report highlights the innovation and diversity of the Swiss digital asset custody ecosystem, which includes various business models and providers ranging from technology companies to universal banks.




   



    
   


   








According to the report, Switzerland is currently home to 57 companies that provide such services. An industry survey which polled 34 of these companies found that 44.1% of the respondents were banks or institutions with an equivalent license. These institutions range from retail and online banks such as Swissquote to private banks such as Maerki Baumann, to universal banks such as Credit Suisse, crypto banks such as Sygnum and regional banks such as Hypothekarbank Lenzburg.
The rest of the providers are typically established cryptocurrency companies, such as Bitcoin Suisse and Crypto Finance. According to the study, crypto-specialized providers often have a larger offering than traditional financial institutions and can support dozens of tokens. In contrast, banking incumbents have a narrower offering, sometimes supporting only bitcoin and ether, the study found. However, several regional banks indicated that they are working on a future digital asset solution.
Another indication of the diversity of the Swiss digital asset custody ecosystem is the client base and business models. 20.6% of the respondents indicated exclusively servicing business-to-consumer (B2C) clients such as wallet providers or private banks, whereas 26.5% service only business-to-business (B2B) clients and 50.0% service both.
The report also notes that Switzerland has become an attractive jurisdiction for foreign companies with many international providers now offering digital asset services in the country. These providers include Spain’s BBVA bank and Fidelity from the US. Dedicated international service providers such as UK’s Copper and Israel’s Fireblocks also have representatives in Switzerland, servicing the growing Swiss market.
A favorable regulatory landscape
The diversity of the Swiss digital custody landscape is the result of the country’s progressive and pioneering regulatory landscape, the report says. In 2018, the Swiss Financial Market Supervisory Authority (FINMA) issued its ICO guidelines, clarifying the regulatory framework for initial coin offerings (ICOs) in Switzerland. The guidelines aimed to address the growing interest in ICOs and the associated risks related to investor protection and anti-money laundering.
The FINMA ICO guidelines were followed by the pioneering DLT Act. The legislation, which came into effect on February 01, 2021, provides a clear legal framework for the use and application of blockchain technology and distributed ledger technology (DLT) in various industries. The primary objectives of the DLT Act are to enhance legal certainty, promote innovation, and strengthen investor protection in the blockchain sector.
About eight in ten digital asset custody services providers in Switzerland are licensed in some form, findings of the study show, whether that’s through an asset management license, security firm license, banking license, or through an self-regulatory organization.
Despite the seemingly breadth and depth of the Swiss digital asset custody ecosystem, the report states that some products and services are still lacking. In particular, it notes that most providers currently in operation offer custody services solely for cryptocurrencies such as bitcoin and ether, with only few started offering custody for non-fungible tokens (NFTs). In fact, only 20.6% of the providers polled said they offer custody services for security or asset tokens such as NFTs, a result that’s reflective of the nascent state of these types of digital assets.
The rise of asset tokenization
Asset tokenization, a process that involves converting rights to a real-world asset into a digital token and recording that said asset on a blockchain, is becoming a critical part of the financial market infrastructure.
Financial institutions and central banks from around the world are ramping up asset tokenization efforts to keep up pace with technological advancements and tap into the benefits the technology brings to the table, including improved speed, efficiency and liquidity, as well as enabling asset fractionalization.
In January, Switzerland’s Cite Gestion became the first private bank to issue shares as ledger-based securities under Swiss law. The bank partnered with digital assets firm Taurus to issue its tokenized shares, manage the smart contract that creates the shares, and perform asset servicing of its securities, it said in a press release.
Earlier this year, the Swiss National Bank (SNB) shared how it intended to “future-proof” the domestic payment ecosystem, outlining its ambition to leverage technologies and processes including tokenization and DLT.
SNB governing board member Andréa Maechler said during an event in March that the central bank was conducting a study on how central bank money can be made available in a regulated token environment. The project focuses on examining different models for token settlement, and is being undertaken in collaboration with regulated financial market infrastructures and other market participants.
Boston Consulting Group estimates that asset tokenization and blockchain technology could generate savings of US$20 billion annually in global clearing and settlement and unlock a US$16 trillion market for tokenized illiquid assets by 2030.
Tokenization of global illiquid assets estimated to be a US$16 Trillion business opportunity by 2030, Source: Boston Consulting Group, 2022

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/switzerland-sees-blossoming-digital-asset-custody-ecosystem-study</link><guid>3298</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x85777</dc:content ><dc:text>Switzerland Sees Blossoming Digital Asset Custody Ecosystem: Study</dc:text></item><item><title>Philippine Unicorn Gcash Banners Overseas Expansion at London Tech Week</title><description><![CDATA[Philippines’ financial super app, GCash, banners its global expansion at London Tech Week 2023, highlighting its mission of providing Filipinos access to financial services everywhere.
At London Tech Week, PM Sunak hosted industry leaders which included GCash CEO Martha Sazon, GCash CTOO Pebbles Sy, and Makati City Mayor Abby Binay
During the event, GCash CTOO Pebbles Sy, shared with tech leaders the fintech firm’s push for financial inclusion.




   



    
   


   








Pebbles Sy
“GCash’s story is about how we support the Philippines’ journey to become a digital, cashless, and financially inclusive economy,”
Sy said. Sy talked about how the e-wallet is solving the everyday problems of Filipinos, while it seeks to reach the over 10 million Filipinos abroad.
“GCash Overseas, allows Filipinos to use their international SIMs to use GCash. We launched it in six countries, the UK included, where there are 200,000 Filipinos,”
she noted.
“We also introduced Global Pay, our cross-border payment experience, so that OFWs and overseas travelers in 9 countries including Japan, France, and the UK can pay seamlessly via QR with real-time forex charging.”
GCash Overseas allows Filipinos abroad to send money to their loved ones, pay bills, and buy load credits wherever they are.
GCash president and CEO Martha Sazon and key executives were also in the UK for the event. The GCash delegation attended receptions led by the The Rt Hon Rishi Sunak MP at 10 Downing St., as well as events hosted by Rt. Hon. Kemi Badenoch MP, the Secretary of State for the Department for Business and Trade, and His Majesty’s Trade Commissioner for Asia Pacific, Natalie Black. Cybersecurity was also a top agenda with talks on latest technologies to combat financial crimes led by UK Cybersecurity Ambassador Juliette Wilcox CMG.
As the leading financial super app in PH, GCash allows Filipinos gain access to financial services – increasing the country’s banked population to 56%.
It has disbursed P74B loans to 2.8 million Filipinos as of Q1 2023. Two out of every three borrowers are women, located outside Metro Manila and are part of lower socio-economic classes. Likewise, one in four banked Filipinos own a bank account through GCash’s savings feature, GSave while three out of four unit investment trust funds (UITF) are conducted through GCash.
GCash is the Philippines’ only double unicorn – a valuation of over USD$2 billion.

Featured image credit: GCash CTOO Pebbles Sy, edited from freepik
]]></description><link>https://fintechnews.eu/philippine-unicorn-gcash-banners-overseas-expansion-at-london-tech-week</link><guid>3296</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Philippine Unicorn Gcash Banners Overseas Expansion at London Tech Week</dc:text></item><item><title>Banks, Central Banks Ramp up Asset Tokenization Efforts</title><description><![CDATA[[unable to retrieve full-text content]]]></description><link>https://fintechnews.eu/banks-central-banks-ramp-up-asset-tokenization-efforts</link><guid>3294</guid><author>Administrator</author><dc:content /><dc:text>Banks, Central Banks Ramp up Asset Tokenization Efforts</dc:text></item><item><title>Swiss Accelerator Innosuisse Calls For Projects Submissions</title><description><![CDATA[Swiss SMEs and start-ups that are established on the market and demonstrate above-average innovation potential can apply for direct financial support for innovation projects within the Swiss Accelerator programme. The novel products and services should be able to be implemented quickly and effectively and be scalable.
After the launch of the Swiss Accelerator in 2022, Innosuisse issues the second call for projects in 2023.
Dates and deadline:




   



    
   


   








28 August 2023 – Opening of the Innolink platform for the submission of the short application. Submissions by e-mail will not be considered
09 October 2023| 12:00 CEST (at noon) – Deadline for submission of the short application
The Swiss Accelerator remains a transitional measure for Horizon Europe in 2023, as decided by the Federal Council on 24 May 2023. Because Switzerland is considered a non-associated third country under the European Union’s framework programme, the Swiss government has commissioned Innosuisse to implement this transitional measure. It is financed by the Confederation.
The funding from Innosuisse is a maximum of 70 percent of project costs. The company bears 30 percent of the costs itself. Per application, Innosuisse funding amounts to a maximum of 2.5 million Swiss francs. SMEs and start-ups undergo a three-stage application process.
Requirements and evaluation criteria in detail
IMPORTANT: Start-ups that have not yet entered the market are not allowed to submit applications for Swiss Accelerator projects.
Is your start-up not yet present on the market with products or services?
Then the start-up innovation projects might be of interest to you. It is not possible to submit simultaneous applications to the Swiss Accelerator and for start-up innovation projects due to the defined criteria.

]]></description><link>https://fintechnews.eu/swiss-accelerator-innosuisse-calls-for-projects-submissions</link><guid>3293</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Swiss Accelerator Innosuisse Calls For Projects Submissions</dc:text></item><item><title>Swiss SME Accelerator: Innosuisse Calls For Projects Submissions</title><description><![CDATA[Swiss SMEs and start-ups that are established on the market and demonstrate above-average innovation potential can apply for direct financial support for innovation projects within the Swiss Accelerator programme. The novel products and services should be able to be implemented quickly and effectively and be scalable.
After the launch of the Swiss Accelerator in 2022, Innosuisse issues the second call for projects in 2023.
Dates and deadline:




   



    
   


   








28 August 2023 – Opening of the Innolink platform for the submission of the short application. Submissions by e-mail will not be considered
09 October 2023| 12:00 CEST (at noon) – Deadline for submission of the short application
The Swiss Accelerator remains a transitional measure for Horizon Europe in 2023, as decided by the Federal Council on 24 May 2023. Because Switzerland is considered a non-associated third country under the European Union’s framework programme, the Swiss government has commissioned Innosuisse to implement this transitional measure. It is financed by the Confederation.
The funding from Innosuisse is a maximum of 70 percent of project costs. The company bears 30 percent of the costs itself. Per application, Innosuisse funding amounts to a maximum of 2.5 million Swiss francs. SMEs and start-ups undergo a three-stage application process.
Requirements and evaluation criteria in detail
IMPORTANT: Start-ups that have not yet entered the market are not allowed to submit applications for Swiss Accelerator projects.
Is your start-up not yet present on the market with products or services?
Then the start-up innovation projects might be of interest to you. It is not possible to submit simultaneous applications to the Swiss Accelerator and for start-up innovation projects due to the defined criteria.

]]></description><link>https://fintechnews.eu/swiss-sme-accelerator-innosuisse-calls-for-projects-submissions</link><guid>3295</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Swiss SME Accelerator: Innosuisse Calls For Projects Submissions</dc:text></item><item><title>Swiss Fintech Funding Pulls Back 45% YoY</title><description><![CDATA[Venture capital (VC) financing going into Swiss fintech startups pulled back significantly in H1 2023, plummeting by more than 45% year-on-year (YoY) as the global economic downturn continued to weigh on startup valuations and the VC funding landscape as a whole, new data released by online news portal Startupticker.ch and the investor association SECA, in cooperation with startup.ch, show.
The Swiss Venture Capital Report 2023 Update, published on July 13, 2023, shares key VC funding metrics for H1 2023, showcasing a grim fundraising landscape for Swiss startups during the first half of the year.
According to the report, Swiss fintech companies raised a mere CHF 191 million in H1 2023, nearly half of the sum secured in H1 2022 (CHF 349 million). Other startup categories also witnessed a significant drop in VC funding, with information and communications technology (ICT) and healthcare IT dropping by a staggering 80%+ YoY each.




   



    
   


   








Funding and round number by sector, Source: Swiss Venture Capital Report 2023 Update, Startupticker.ch, SECA and Startup.ch, July 2023
A survey of about 100 Swiss investors conducted by SECA as part of the report shows that the environment will likely remain challenging for Swiss startups for the rest of the year. A third of respondents said they will make fewer new investments in the next year, and instead focus more on follow-up financing.
When asked about the factors they now think are more important than 12 months ago, 70% of investors said they now pay more attention to valuation when making a new investment and 72% said they weigh capital efficiency more heavily today.
This suggests that startups wanting to receive investment now have to prove that they can efficiently achieve business milestones with the capital invested, and that they will likely have to accept compromises in their valuation.
Importance of investor factors, Source: Swiss Venture Capital Report 2023 Update, Startupticker.ch, SECA and Startup.ch, July 2023
Swiss investors expect valuations to continue to decline over the next 12 months. In the H1 2022 report, 44% of respondents said they expected valuations to decline over the following 12-month period, compared with 61% in this year’s questionnaire.
Respondents project the sharpest decline in financing volume and valuations in later stage and growth rounds, or Series B and later, but expect some improvement for seed investments.
When asked about the challenges in the year to come, Swiss investors highlighted two main points: realizing exits at attractive valuations and refinancing the startups that completed rounds with very high valuations in 2021 and 2022.
Despite the challenging environment, Swiss investors remain optimistic on the growth prospect of the ecosystem, with survey results revealing that Swiss VCs are still busy fundraising. About a fifth of all respondents – the same number as in 2022 – indicated being involved in fundraising, with those that are planning fundraising and those actively investing reaching 36% this year versus 39% in the previous year.
In H1 2023, Swiss VC financing totaled CHF 1.2 billion, representing a 54% decrease compared with the same period last year. The number of completed financing rounds also fell, reaching 154 in H1 2023 compared with 163 in H1 2022.
Financing rounds were smaller in size with the median sum falling from CHF 3 million in H1 2022 to CHF 2.48 million in H1 2023.
Investments in Swiss startups in H1 2023, Source: Swiss Venture Capital Report 2023 Update, Startupticker.ch, SECA and Startup.ch, July 2023
Plummeting fintech funding activity in Switzerland is consistent with what has been observed globally. According to an analysis by S&amp;P Global Market Intelligence, VC funding of fintech startups globally plunged by 49% YoY in the first half of 2023, reaching US$23 billion. Deal count totaled 1,178, representing a 64% drop from H1 2022.
Global fintech funding by quarter, Source: S&amp;P Global Market Intelligence 2023, July 2023
2022 and 2023 have been challenging years for startup fundraising. VC investors pumped the brakes on aggressive funding, spooked by an uncertain economic picture, plunging tech industry stock prices and growing recession fears. At the same time, a series of high-profile collapses shook the landscape, dampening investor risk appetite.
Silicon Valley Bank, once the most prominent bank for startups and VC firms, failed after a bank run in March 2023, marking the second-largest collapse of a financial institution in US history. The failure is said to have had some impact on startup funding by putting a momentary pause on large funding announcements, Crunchbase reported in the days that followed the event.
In late-2022, FTX, a cryptocurrency exchange once worth US$32 billion, filed for bankruptcy protection in the US. An investigation uncovered instances of commingling and misuse of customer deposits, with approximately US$8.7 billion being owed to its customers.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/swiss-fintech-funding-pulls-back-45-yoy</link><guid>3292</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Swiss Fintech Funding Pulls Back 45% YoY</dc:text></item><item><title>Bunq Secures €100M in Growth Capital Despite Market Downturn</title><description><![CDATA[Bunq, the second largest neobank in the EU, secures an additional €44.5M in growth capital, bringing the total capital injected into bunq this year to nearly €100M. This fresh capital allows the mobile bank to further accelerate its international expansion and continue its rapid growth. Current investors Ali Niknam, Pollen Street Capital and Raymond Kasiman joined the round and committed to an investment valuation of €1.65 billion, despite this year’s market downturn.
The funding round follows a record year for bunq. The challenger recently hit 9 million users across Europe and doubled its user deposits in just four months, with deposits surpassing €4.5 billion. In 2021 bunq raised €193M, the largest series-A ever raised by a European fintech, valuing bunq at €1.65 billion.
Ali Niknam
“It’s been a truly magical year for bunq: we’re rapidly expanding and have seen massive deposit growth. With more and more people entrusting their money to us, we’re convinced that we should double down on our momentum and cement the way forward for future growth.”
Ali Niknam, founder and CEO of bunq




   



    
   


   








bunq booked its first net profit in the last quarter of 2022 and expects to have its first full year of profit in 2023.

Featured image credit: Ali Niknam, founder and CEO of bunq
]]></description><link>https://fintechnews.eu/bunq-secures-100m-in-growth-capital-despite-market-downturn</link><guid>3291</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Bunq Secures €100M in Growth Capital Despite Market Downturn</dc:text></item><item><title>Vontobel Deepens Microsoft Partnership to Deploy AI for Productivity</title><description><![CDATA[Swiss private banking and investment management group Vontobel announced that it is deepening its partnership with Microsoft to support its employees in their daily work through the use of artificial intelligence (AI) technology.
Through this partnership, Vontobel will be deploying the Azure Open AI Service at enterprise level in accordance with the applicable regulations.
Expected to be deployed at Vontobel from fall 2023, the solution is expected to boost productivity in various business areas, such as programming, and to support the manual evaluation of free text or the analysis of data.




   



    
   


   








Vontobel said that it will carry out evaluations to determine other areas where Azure Open AI Service could be used to support the work of employees.
François Rüf
“We see the enormous potential of this ground-breaking technology and are excited and convinced of the opportunities it offers. Our focus is on increasing productivity, and we also plan to develop examples of how it can be applied to further enhance the hybrid client experience.

The collaboration with Microsoft will allow us to further expand our leading position in the field of AI and will position Vontobel as an employer of choice for top talent,”
said François Rüf, Head Digital Investing, Vontobel.
]]></description><link>https://fintechnews.eu/vontobel-deepens-microsoft-partnership-to-deploy-ai-for-productivity</link><guid>3290</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Vontobel Deepens Microsoft Partnership to Deploy AI for Productivity</dc:text></item><item><title>How to Do Crowdfunding in Switzerland?</title><description><![CDATA[Raising capital for projects and companies via crowdfunding platforms is popular, especially for startups. In 2022, over CHF 650 million was raised via crowdfunding platforms in Switzerland.
Unlike the European Union (see Regulation (EU) 2020/1503 of 7 October 2020), Switzerland has no specific regulation for crowdfunding service providers. Rather, the general Swiss regulatory framework applies. This article is intended to help in navigating the applicable regulatory framework in Switzerland.
image via freepik
What is crowdfunding?
Crowdfunding is an overarching term for various alternative financing methods. These methods have in common that a large number of contributors finance a specific project advertised on a platform. Crowdfunding is inter alia a way to provide capital to SMEs for which i) the capital market is too expensive, and ii) cannot rely on bank loans (e.g. because they do not have access to sufficient collateral).




   



    
   


   








What types of crowdfunding operations exist in Switzerland?
The terminology for the individual types of crowdfunding is inconsistent. Generally, four types of crowdfunding may be differentiated:

Crowddonating: In donation-based crowdfunding, there is no reward for the contributors as the funds are used as a donation.
Crowdsupporting: In reward-based crowdfunding, contributors give money and receive a (generally minor) non-financial reward in return (e.g. the financed product).
Crowdlending: In crowdlending models, investors provide debt capital. Accordingly, investors grant a loan and receive interest payments on it.

Crowdinvesting: In equity-based crowdfunding, investors provide equity capital. As such, investors finance companies and receive shares in the company or participate in the company’s profits in some other way.
What does the Swiss crowdfunding market look like?
Generally, the Swiss crowdfunding market shows relatively stable overall growth over the past years. In 2022, CHF 662.2 million was raised by crowdfunding (which marks the first decrease in 10 years, when compared to the CHF 791.8 million raised in 2021).
Based on a study by the Lucerne University of Applied Sciences and Arts (HSLU), which relies on information of the crowdfunding operators, there were 35 crowdfunding platforms operating in Switzerland in 2022. In general, a lot of fluctuation in terms of market entries and exits exists.
In terms of financing volume, crowdlending far exceeds the other types of crowdfunding and, therefore, seems to be the most popular type of crowdfunding in Switzerland.
Is a license required to operate a crowdfunding platform in Switzerland?
Whether a crowdfunding platform needs to be licenced by the Swiss Financial Market Supervisory Authority (FINMA) or not, largely depends on its business model. As crowdfunding business models vary, it needs to be assessed on a case-by-case basis, if a license needs to be obtained. Generally speaking, a crowdfunding operator in Switzerland may need i) a banking licence, ii) a FinTech license, or iii) no license at all.
A banking license pursuant to the Swiss Banking Act (BankA) is required if the crowdfunding operator accepts deposits from the public (Publikumseinlagen) and pools such funds by way of its own accounts (i.e. the collected funds are kept in accounts of the crowdfunding operator from where they are distributed to the project developers). In other words, if the platform passes on the funds to the project developers or transfers them back to the investors in the event the financing fails, it needs a licence. In terms of compliance, this is the most burdensome outcome, as the crowdfunding operator would have to comply with certain (extensive) organisational, risk management and compliance standards and would be subject to supervision by FINMA.
The FinTech-license (also known as banking license “light”) allows crowdfunding operators to hold public deposits on the platform’s account for more than 60 days – even without a “full” banking licence – provided that this money (or crypto-based assets) does not exceed CHF 100 million. The advantage over the “full” banking license mainly lies in i) the application of less strict accounting and auditing standards, ii) the non-application of the provisions on deposit insurance, and iii) lower capital requirements.
Crowdfunding operators that do not accept deposits from the public and do not pool the funds through their accounts (i.e. do not use own accounts to keep the collected funds until they are transferred to the project developers) are generally not subject to a license requirement. Simply put, if the platform only brokers investors and project developers without being involved in the payment process, no FINMA-license is required. Such business models generally operate by channelling funds through a third party (e.g. an escrow agent), who is independent from the project developers, platform operators or investors. In practice, crowdfunding operators often use third-party payment providers to transfer the funds to a bank, which will hold the funds in an escrow account.
To ensure that no unauthorized banking activity is carried out, it is common practice that a crowdfunding operator requests a “negative ruling” (Bestätigung der Nichtunterstellung) from FINMA. In such ruling, FINMA confirms that – based on the business model and activities described in the request – no license requirements are triggered. The assessment of the activities of the crowdfunding platform by FINMA generally incurs a fee but provides legal certainty.
Other Swiss law considerations for a crowdfunding operator
Irrespective of a FINMA-license requirement, a crowdfunding operator must comply with the general Swiss financial market regulation (if applicable in the particular case).
If the crowdfunding platform’s activities qualify as “financial services”, the Financial Services Act (FinSA) applies. Such qualification needs to be assessed on a case-by-case basis. A platform provides a financial service, inter alia, when it accepts or transmits orders relating to financial instruments or when it makes personal recommendations relating to transactions in financial instruments. For example, if a crowdinvesting platform accepts and transmits orders of investors for shares or other securities of project developers, it provides a financial service. Equally, if a crowdfunding operator makes personal recommendations to investors regarding crowdfunding projects, based on which an investor may acquire shares or other securities, it provides a financial service.
The applicability of the FinSA triggers a number of regulatory obligations. The crowdfunding operator needs to segment its clients (this classification determines the level of applicable client protection). It further needs to comply with a number of rules of conduct (e.g. information and due diligence requirements as well as documentation and reporting duties) and organisational measures (including measures to avoid conflicts of interest). Further, the crowdfunding operator may have to register its client advisers with a client adviser registry and affiliate with an ombudsman.
In addition, the crowdfunding operator must publish a prospectus in accordance with FinSA, if it offers securities (such as shares or bonds) to the public. This is particularly relevant for crowdinvesting or crowdlending activities, where i) investors may acquire shares or bonds in return for their contribution, and ii) the offer is not directed at limited number of persons. Crowdfunding operators that offer securities to the public may need to consider the prospectus exemptions for their business model. For example, if the offer is made to professional customers exclusively, is addressed at fewer than 500 investors or does not exceed a total value of CHF 8 million over a 12-month period (de-minimis rule), no prospectus has to be published.
Must a crowdfunding operator register with a client adviser registry?
Crowdfunding platforms that provide a financial service pursuant to FinSA need to consider the duty to register their client advisers with a client adviser registry. Client advisers are natural persons acting on behalf of a financial service provider (see above). Client advisers of foreign crowdfunding platforms as well as non-supervised Swiss crowdfunding platforms may carry out their activities in Switzerland only if they are registered in a register of advisers. An exception from the registration requirement may apply if the foreign crowdfunding operator is subject to prudential supervision and limits its financial services to professional or institutional clients
Crowdfunding operators generally provide their financial services through the platform itself, rather than via direct involvement of natural persons. As a result, there is some uncertainty as to how crowdfunding operators are meant to comply with the registration obligation. The general approach of the client advisor registries follows the same logic as in the case of financial services being provided by software-based applications such as robo-advisors or neo-brokers. Instead of the natural person, a substitute is to be registered for the platform. Generally, such substitutes are i) the person(s) primarily and technically responsible for the provision of the financial service, or if i) does not exist, ii) the member of the executive board responsible for the financial service to be provided.
Must a crowdfunding operator affiliate with an ombudsman?
If the FinSA applies to a crowdfunding operator, also the obligation to affiliate with an ombudsman must be considered. The crowdfunding operator must affiliate with an ombudsman if it provides financial services not exclusively to institutional or professional clients. Crowdfunding operators may limit their services accordingly.
Do the Swiss anti-money laundering laws apply on crowdfunding?
Under the Anti-Money Laundering Act (AMLA), financial intermediaries need to comply with certain due diligence obligations (e.g. reporting and KYC obligations). Financial intermediaries that are not supervised under special legislation (e.g. Swiss Banking Act, Swiss Insurance Act, Swiss Financial Institutions Act) must affiliate with a self-regulatory organisation (SRO) recognised by FINMA. Such financial intermediaries are persons who, on a professional basis, accept or hold assets belonging to others or assist in the investment or transfer of such assets. In particular, the considerations are as follows:

If a crowdfunding operator requires a banking license (light), it qualifies as a financial intermediary and therefore falls under the AMLA. However, it would not be obliged to affiliate with an SRO as it is supervised by FINMA.
If a crowdfunding operator uses its own bank accounts to collect and transfer the money but does not require any banking license (because it does not meet the conditions), it is also subject to the AMLA: Persons who provide services for payment transactions qualify as financial intermediaries for the purposes of AMLA and need to affiliate with an SRO.
If a crowdfunding operator does not channel funds through its accounts and does not require a banking license (light), the application of the AMLA needs to be assessed based on the structuring of the specific business model.

Do the Swiss consumer laws apply to crowdfunding?
The Swiss Consumer Credit Act (CCA) covers crowdfunding operators as “crowd loan intermediaries” (Schwarmkredit-Vermittlerin). A crowd loan intermediary is a person that organises coordinated consumer credits for individual consumers on a commercial basis, in which several non-professional lenders (the crowd) can participate. Loan agreements or similar financing arrangements for natural persons used for non-business purposes are considered consumer credit agreements.
The applicability of the CCA depends on the type of crowdfunding and the business model of the operator. Generally, the CCA does not apply to crowddonating or crowdsupporting (no loans or other similar financing arrangements are granted). Similarly, the CCA will often not apply to crowdinvesting or crowdlending activities, as the project developers will often i) not be natural persons, and ii) not use the funds for non-business purposes. Such project developers do therefore not qualify as consumers under the CCA. However, if funds are provided to consumers via the platform and the crowdfunding-operator (or the investors) act professionally, the CCA will generally apply. It needs to be noted that the CCA contains a number of exceptions (e.g. credit agreements of less than CHF 500.– or more than CHF 80,000.– are not covered).
The applicability of the CCA triggers a number of obligations for the crowdfunding operator. For example, an authorisation by the competent cantonal authority needs to be obtained, the consumer credit agreements (via the platform) need to be concluded i) in written form, and ii) contain the prescribed content pursuant to the CCA, and certain limitations on the interest rates apply. It also needs to be noted that the consumer (i.e. the project developer) has a statutory right of withdrawal of 14 days upon receipt of its original counterpart of the contract.
Conclusion
Overall, it can be said that crowdfunding operators accepting funds are well advised to evaluate which license they require (if any), before starting their business activity in Switzerland. While the license requirement largely depends on the crowdfunding operator’s business, a number of requirements under the FinSA, AMLA and – in some cases – the CCA may need to be complied with, even if no license is required. Non-compliance with these requirements can lead to administrative fines or civil liability.

Authored by Loyens&amp;Loeff: Judith Raijmakers (Partner), Florian Willi and Flurin Oehen (Associates)

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/how-to-do-crowdfunding-in-switzerland</link><guid>3288</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/07/crowdfunding-Switzerland-1024x683.jpg?x30842</dc:content ><dc:text>How to Do Crowdfunding in Switzerland?</dc:text></item><item><title>Klarpay’s CEO Emphasizes On Developing a Digital-First Approach to Banking</title><description><![CDATA[We sat down with Martynas Bieliauskas, CEO of Swiss-licensed fintech Klarpay AG, to discuss the company’s approach to servicing global digital businesses with scalable cross-border payment solutions.
A digital-first approach is of utmost importance in today’s banking landscape. With the increasing demand for digital services and the need to stay competitive, financial institutions must prioritise digital transformation and interconnectivity. It enables financial institutions to offer online onboarding, real-time services, reduce costs, and attract tech-savvy customers, all while meeting the expectations of a digitally connected world.
Martynas Bieliauskas, CEO of Swiss-licensed fintech Klarpay AG
In your opinion, why is it important for banks to develop a digital-first approach in today’s industry?
Having a background in digital entrepreneurship, I must emphasise that one of the major hurdles confronted by digital businesses such as marketplaces, fintechs, PSPs and online merchants revolves around obtaining streamlined transactional banking services. The issue lies in the fact that many financial institutions don’t apply a digital-first approach and lack the modern technical infrastructure and interfaces demanded by modern tech-savvy clients.
At Klarpay, we understand the importance of a digital-first approach, and it begins with facilitating cross-border payments for digital businesses efficiently. We help digital businesses scale globally with Swiss corporate accounts, multi-currency IBANs in 16+ currencies, settlements in 80+ currencies, API automation, mass payouts and corporate Visa cards. Our user-friendly online platform allows for effortless management and control, enabling our clients to streamline their financial operations from the comfort of their own workspace.
What are some of the benefits that a digital-first approach brings to banking?
A digital-first approach offers online onboarding that reduces the need for a physical presence and manual processes, making it more convenient for clients to open accounts and access transactional banking services. It is also cost-effective for both clients and financial institutions as well as streamlines operations, automates tasks, and improves overall efficiency.
While focusing on enhancing user experience, how can banks strike the right balance between security and customer experience?
Security and privacy are essential for building trust; therefore, while technology is at the forefront, there are always real people behind ready to serve. Financial institutions must also educate customers about security risks and how to protect themselves. At the same time, leveraging technologies such as biometric authentication and fraud detection tools can help provide a secure environment while maintaining a good user experience.
Looking towards the future, how can AI transform transaction monitoring and prevent financial fraud?
Without a doubt, AI and automation will play significant roles in the future of banking and finance.
The use of artificial intelligence (AI) and machine learning (ML) is increasingly being adopted by financial institutions to enhance their ability to monitor and prevent fraud, as they have the potential to streamline processes, improve operational efficiency, and ultimately enhance customer experiences.
Traditionally, banks relied on rule-based systems to flag potentially suspicious transactions. However, these static rules had limitations and often resulted in false positives, causing inconvenience for customers. Advanced AI systems now analyse multiple variables simultaneously and detect patterns of suspicious behaviour based on a series of indicators. This approach allows for a more novel and efficient way to identify fraud.
Despite the advantages of AI in AML, there are challenges to its adoption, including concerns about regulators’ responses and the need to explain the decision-making process of AI systems. However, companies can start with basic AI implementations and gradually introduce more rules. Regulators are also becoming more familiar with AI systems, which is expected to drive further adoption.
In an ever-evolving payments landscape, how significant is it to embrace agility and flexibility in your technology infrastructure?
Technology is driving what we do in business. Technology is digital, data, its user experience, how we onboard clients, and how we serve our clients. Our mission is to make B2B transactional banking and payment solutions accessible to global digital businesses of all kinds by embracing a digital-first approach to banking and providing scalable solutions. By offering online onboarding, cost-effective solutions, streamlined operations, and an expanded customer reach, we are attending to our client’s payment needs. As fintech, neobanks, and financial institutions continue to shape the banking landscape, a collaboration between traditional banks and emerging players will be crucial to meet evolving customer expectations.
Klarpay has a prime opportunity to make a significant impact in improving banking, payment, and disbursement solutions for digital businesses.

Featured image credit: Martynas Bieliauskas, CEO of Swiss-licensed fintech Klarpay AG
]]></description><link>https://fintechnews.eu/klarpays-ceo-emphasizes-on-developing-a-digital-first-approach-to-banking</link><guid>3289</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/07/Martynas-Bieliauskas-CEO-of-Swiss-licensed-fintech-Klarpay-AG-1024x567.jpg?x30842</dc:content ><dc:text>Klarpay’s CEO Emphasizes On Developing a Digital-First Approach to Banking</dc:text></item><item><title>TP24 Raises CHF 380M Debt Funding From Barclays and M&amp;G Investments</title><description><![CDATA[Swiss Fintech TP24, (former Tradeplus24) has raised £345m (CHF 380m CHF) in debt funding from UK parties Barclays Bank and M&amp;G Investments. The amount of £240m will be used for lending to SMEs in the UK and the Netherlands. Barclays is providing up to £200m in warehouse financing, while M&amp;G is providing up to £40m in mezzanine funding.
TP24 provides SMEs with flexible revolving business credit based on their outstanding invoices, without taking over the debtor base. In addition to the amount of £200m for the UK and the Netherlands, an amount of up to £105 million has also been made available by Barclays for lending by TP24 in Australia.
Gordon Beck
Gordon Beck, European Head of Corporate &amp; Sustainable Securitisation at Barclays, said:




   



    
   


   








“Barclays is pleased to support TP24 on its mission to provide innovative lending solutions to SMEs across the UK, the Netherlands and Australia. Progressive SME lending is critical to the health and success of many businesses, and TP24’s solutions are tailored, affordable, and convenient. Barclays is proud to be partnering with TP24 as it leads this innovation on a global stage.”
TP24 was launched in Switzerland in 2018 and in recent years opened branches in Australia (2019), the UK (2021) and the Netherlands (2022).
Unique proposition
UK SMEs looking for financing for further growth can turn to TP24 for flexible revolving loans from £250,000 to £5,000,000. The prerequisite is that they are based in the UK, have been operational for at least three years, and have a debtor base of more than £350,000. Unlike factoring, TP24 does not take over outstanding invoices.


Featured image credit: TP24 Team
]]></description><link>https://fintechnews.eu/tp24-raises-chf-380m-debt-funding-from-barclays-and-mg-investments</link><guid>3287</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>TP24 Raises CHF 380M Debt Funding From Barclays and M&amp;G Investments</dc:text></item><item><title>Neon Invests Starts</title><description><![CDATA[The admission of Hypothekarbank Lenzburg as a new trading participant on the Swiss stock exchange BX Swiss enables the launch of “neon invest”, the new investment solution of the Virtual Banking app neon. The offering makes a significant contribution to enabling investors to invest in a simple and self-determined way.
HBL has been working with the Zurich-based FinTech company neon for many years and offers its more than 160.000 neon clients a simple, user-friendly and secure account solution via app. With the integration of HBL as a trading participant of BX Swiss neon is able to expand their products and to offer trading to neon app users. With “neon invest”, neon clients will have access to a wide range of Swiss and international equities and ETFs, which they can trade easily and cost-effectively via BX Swiss.

Lucas Bruggeman
“We are pleased to welcome HBL as a new trading partner and, through our partnership with HBL and neon, to make a significant contribution to promoting self-directed investing for private investors. As a full regulated and established Swiss stock exchange, one of our main objective is to provide private investors with trusted and secure access to a broadly diversified portfolio of financial products and to support them in building their knowledge”
Says Lucas Bruggeman, CEO of BX Swiss AG.




   



    
   


   









“With neon invest, we are expanding an established partnership with a new, strong partner. Together, we are creating a new, cost-effective Swiss offering for the benefit of our clients in a currently highly concentrated market. We will take advantage of this strong cooperation and will quickly expand the current offering with additional titles and features in the coming months.”
Says Timo Hegnauer, Head of Investment at neon.
The Investment Universe starts with 224 Swiss and International Stocks and 65 ETFs.  Trading-Fees are 0.5% on Swiss stocks and ETFs, and 1% on international stocks. Cost effective and diversified World ETFs are part of this offer, for example ETFs on FTSE all or MSCI World from Vanguard, Deutsche Bank or IShares with TERs between 0.19 and 0.22% only.

Featured image credit: Edited from freepik.


]]></description><link>https://fintechnews.eu/neon-invests-starts</link><guid>3284</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Neon Invests Starts</dc:text></item><item><title>Neon Starts With Investment App</title><description><![CDATA[The admission of Hypothekarbank Lenzburg as a new trading participant on the Swiss stock exchange BX Swiss enables the launch of “neon invest”, the new investment solution of the Virtual Banking app neon. The offering makes a significant contribution to enabling investors to invest in a simple and self-determined way.
HBL has been working with the Zurich-based FinTech company neon for many years and offers its more than 160.000 neon clients a simple, user-friendly and secure account solution via app. With the integration of HBL as a trading participant of BX Swiss neon is able to expand their products and to offer trading to neon app users. With “neon invest”, neon clients will have access to a wide range of Swiss and international equities and ETFs, which they can trade easily and cost-effectively via BX Swiss.

Lucas Bruggeman
“We are pleased to welcome HBL as a new trading partner and, through our partnership with HBL and neon, to make a significant contribution to promoting self-directed investing for private investors. As a full regulated and established Swiss stock exchange, one of our main objective is to provide private investors with trusted and secure access to a broadly diversified portfolio of financial products and to support them in building their knowledge”
Says Lucas Bruggeman, CEO of BX Swiss AG.




   



    
   


   










Timo Hegnauer
“With neon invest, we are expanding an established partnership with a new, strong partner. Together, we are creating a new, cost-effective Swiss offering for the benefit of our clients in a currently highly concentrated market. We will take advantage of this strong cooperation and will quickly expand the current offering with additional titles and features in the coming months.”
Says Timo Hegnauer, Head of Investment at neon.
The Investment Universe starts with 224 Swiss and International Stocks and 65 ETFs.  Trading-Fees are 0.5% on Swiss stocks and ETFs, and 1% on international stocks. Cost effective and diversified World ETFs are part of this offer, for example ETFs on FTSE all or MSCI World from Vanguard, Deutsche Bank or IShares with TERs between 0.19 and 0.22% only.

Featured image credit: Edited from freepik.


]]></description><link>https://fintechnews.eu/neon-starts-with-investment-app</link><guid>3285</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Neon Starts With Investment App</dc:text></item><item><title>AI Neobanks McKinsey Study: Long-Term Success of Virtual Banks Hinges on Ability to Leverage AI, Data Analytics</title><description><![CDATA[Neobanks are proliferating around the world on the back of strong trends including technological advancements, regulatory changes and evolving customer expectations. And yet, despite the favorable market conditions, many are still struggling to turn a profit. For neobanks to be successful in the long run, these companies will need to embrace an artificial intelligence (AI)-powered banking model, a report by global consulting firm McKinsey and Company says.
Titled “Building a Winning AI Neobank”, the report discusses the rise of neobanks and explores how launching a successful neobank in today’s uncertain environment requires firms to target specific characteristics and capabilities in their strategy and execution plans, suggesting that incorporating AI technology can increase the odds of success.
Around 400 licensed neobanks have been launched over the last decade, encompassing digital-only banks, virtual banks, and challenger banks, the report says. These companies are resetting the paradigm for the traditional banking industry in terms of customer experience, product innovation, and pricing.




   



    
   


   








But when it comes to financial performance, however, only a handful of these players have actually found success and reached profitability. A 2022 report by consulting firm Simon-Kucher suggests that only a mere 5% of the world’s 400 digital banks are profitable. The firm estimates that most digital banks in the world earn less than US$30 in revenue per customer per year and that cash burn rates remain stellar high for many of them, with annual losses exceeding US$100 million in some cases.
AI-powered digital banking
Against this backdrop, McKinsey argues that AI capabilities and data analytics can help neobanks deepen customer relationships This is made possible by enabling intelligent value propositions that solve unmet needs, hyper-personalized services and enhanced cross-selling. AI can also help neobanks improve financial performance and increase efficiencies by maximizing customer lifetime value, lowering the cost to serve through automation, and adopting superior data-driven risk management practices, the report says.
The report outlines a framework of winning characteristics and capabilities that new entrants should incorporate in their strategy and execution to become a future-ready neobank. These characteristics are:

Launching products at high velocity: Winning neobanks are rapidly launching and adapting new products to meet evolving customer needs. Neobanks with an AI-first mindset accomplish this in months or even weeks, rather than years. They invest significantly in gathering and analyzing customer data, employ full-stack teams, and maintain flexible tech platforms that enable the easy creation of new products. Revolut, for example, started with two products in 2015 but expanded to 20 products and services by 2020, launching a new product every quarter, according to fintech research firm WhiteSight.
A focus on customer engagement: Successful neobanks prioritize customer engagement as a precursor to monetarization. They offer more than just transactional experiences or bundled core products, extending their services to include complementary offerings that provide utility, information, and entertainment. Swedish buy now, pay later (BNPL) leader Klarna, for example, uses a machine learning (ML)-based recommendation system to determine consumer purchase patterns, and offer appropriate shopping recommendations and financing offers.
Hyper-personalizing experiences and propositions: Successful neobanks excel in hyper-personalizing customer experiences and propositions through the use of ML and by leveraging customer context, historical behavior and movement patterns. Some also automate mundane tasks based on customer preferences. In the UK, digital bank Monzo offers automatic savings features that round up transactions and transfer the excess money to a separate account.
Adopt conversational design: AI-focused neobanks leverage conversational design, such as chatbots, voice assistants, and live video consultations, to enhance customer communication, replacing traditional forms and questionnaires with interactive conversations. In China, WeBank says it addresses 98% of customer queries through AI chatbots, allowing it to efficiently scale while serving millions of customers. This characteristic drives cost-efficiency. Juniper Research estimates that chatbots could help the global banking sector save up to US$7.3 billion in operational costs by 2023, equivalent to roughly 862 million hours of time saved.
Integration of open banking features: Successful neobanks gain a competitive edge by integrating open banking features. These companies prioritize an open-first approach from the start, investing in API-first architecture and experiences to tap into the wider open banking ecosystem and provide superior products and services. In the US, Chime utilizes open banking features through its partner Plaid, enabling customers to link all their bank accounts within the Chime app and get a comprehensive view of their finances. This helps Chime increase user engagement and app usage.
Leveraging partner ecosystems to scale: Winning neobanks embed their services within social media platforms, digital commerce, healthcare and lifestyle brands, providing customers with easy access to banking services whenever they engage with these partners. By doing so, neobanks increase their discoverability, accelerate growth, and are able to leverage partner data to offer contextually relevant offers to customers in real time. In South Korea, KakaoBank utilizes the scale and popularity of Kakao’s various ecosystems and digital platforms to successfully serve its 18 million customers.
Using customer-lifetime-value (LTV) to guide actions: Successful neobanks analyze customer-centric metrics like LTV, customer acquisition costs (CAC), and return on investment to guide their actions and create value. They go beyond traditional balance sheet metrics, analyzing granular data to tailor their strategies and operations. Block Finance’s mobile payment service Cash App, for example, tracks and reports customer LTV curves with the returns from its customer cohorts, plotted against the time since the customers started using Cash App. The company claims this strategy has allowed the Cash App to reach CAC breakeven within six months of acquiring a customer and earns six times CAC within 18 months.

The rise of neobanking
Digital banks and neobanking startups have gained ground these past years, owing to deregulation efforts from governments, changing customer habits and technological advancements.
A 2023 report by banking and payment technology company BPC and strategy consultancy Fincog estimates that more than 500 digital banks are currently in operation around the world, providing services to approximately 1 billion customers.
Data from statistics portal and market research provider Statista show that emerging markets are leading the way. Of the world’s 14 biggest digital banks by customer count, 10 originated from an emerging market, including China, India and Brazil.
Number of customer accounts at selected digital challenger banks worldwide in 2021 (in millions), Source: Statista, Nov 2022
In Europe, 162 digital banks operated in the continent in 2022. As of Q1 2023, the region’s top ten biggest neobanks, which include Revolut, Wise and N26, served a combined 64 million customers. Some research studies estimate that user penetration stood at about 7–10% but expect the figure to hit about 14% by 2027.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/ai-neobanks-mckinsey-study-long-term-success-of-virtual-banks-hinges-on-ability-to-leverage-ai-data-analytics</link><guid>3283</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>AI Neobanks McKinsey Study: Long-Term Success of Virtual Banks Hinges on Ability to Leverage AI, Data Analytics</dc:text></item><item><title>Shaping the Future of Fintech and Insurtech: Insights From Switzerland’s Top Startup Competition Winners</title><description><![CDATA[Switzerland’s premier startup competition, &gt;&gt;venture&gt;&gt;, recently concluded its highly anticipated Award Ceremony on June 26th at EPFL, where it crowned the most promising early-stage startups in the country. The Finance &amp; Insurance vertical winners, namely Frigg, grape, and Ascentys, were among the celebrated victors. We had the privilege chatting with these exceptional startups to explore their endeavors and gain insights into their visions for the future of sustainability and impact in the fintech/insurtech domain.
The &gt;&gt;venture&gt;&gt; competition not only recognizes outstanding startups but also provides them with invaluable support. Winners of the competition are granted exclusive access to mentorship and coaching from industry experts. Moreover, they receive funding to kickstart their entrepreneurial journeys, with the 1st, 2nd, and 3rd place winners receiving CHF 50,000, CHF 20,000, and CHF 10,000, respectively, in non-dilutive cash prizes.
Frigg, the 1st place winner of the Finance &amp; Insurance vertical within the &gt;&gt;venture&gt;&gt; startup competition, has developed a legally compliant software that streamlines the creation of tokenized Green Bonds backed by sustainable infrastructure projects (i.e. renewables). They embed real-time environmental performance data with end-to-end transparency from the source.
We spoke to Philip Berntsen, CEO of Frigg, to understand more about his point of view of where the opportunities lie for a fintech focused on sustainability.
Philipp Bernstein at the Venture 2023 Award Ceremony, Monday, June 26, 2023 at the SwissTech Convention Center in EPFL (Ecole Polytechnique Federale de Lausanne). (Valentin Flauraud for Venture)
Philipp, you claim advantageous regulatory treatment of sustainable digital assets. In what does the regulator treat sustainable assets more favorably? Will future tightening of the regulatory landscape for digital assets take any of these advantages (if there are any) away?
Currently, there is a massive regulatory push for sustainability reports, and there is only going to be more and more demand. Not only do regulators want sustainability reports, but they are also becoming increasingly strict on what lies behind those numbers.
DLT is nascent, and it’s almost like building a financial infrastructure in a way that they learn from the mistakes that have been made in the past and impose only what works into the new framework.
This presents a new opportunity for us, not to be more stringent, but rather more beneficial. We must sit close to the legislators to make sure regulation is purposeful but also allows innovation to flow.
Why do you issue in Switzerland? Is the Swiss legal / regulatory landscape favorable or limiting for international originators?
I would say it’s favorable because there are regulatory thresholds to consider. Switzerland is an innovative progressive hub, but the challenge is to find value for money. For this, you need to go to emerging markets.But Switzerland is enabling for Frigg because it supports the DLT law. This new bill allows us to provide transparency into what the assets are doing to help society in an immutable way. This means we’re facilitating connectivity to impactful projects with inherent transparency and there’s a big opportunity here.
What new opportunities does focusing on the SDGs provide for budding entrepreneurs in the fintech space?
The SDGs provide a good framework to channel innovation to the right places. There’s a lot of interest and willingness to fund these initiatives.
More importantly, however, one of the biggest opportunities we’ve seen is the increase in transparency and trust.
The second-place winner, grape, is Switzerland’s the first fully digital employee insurance that invests in employees’ physical and mental health by using new data points and machine-learning techniques. Here’s what co-founder and CEO, Gregory Inauen, had to say about innovation in insurtech.
CEO, Gregory Inauen with the Chairman of the &gt;&gt;venture&gt;&gt; foundation, Ulrich Jakob Looser (Valentin Flauraud for Venture)
Gregory, how does your startup innovation address existing challenges or inefficiencies in the financial or insurance industry?
Grape offers various employee insurance products (KTG, UVG/Z) bundled with an end-to-end B2B software solution that allows our clients to automate the processing of their claims, provide them insights with analytics and introduce health initiatives in their companies.
Grape is tackling both the lack of automation and digitalisation, as well as the scarcity in employee’s health promotion by offering a digital insurance that incentivises health amongst our customer’s employees.
What makes us different is that at grape we bundle our employee insurances with our B2B software and through its automation and integrations into more than 50 payroll and time-tracking software, we reduce administrative work, therefore saving HR teams time for claiming, reporting, and payroll adjustments. Additionally, we are the first insurer actively investing in mental health initiatives and supporting companies to roll out prevention campaigns in their company through our health benefits.
One could say that traditional insurers are not yet ready for your solution. What about the reinsurers? How do they react to your offering and does grape get any favorable terms from the reinsurers based on your focus on prevention?
Our competitors, the traditional insurers, are lagging behind in innovation and building software solutions to tackle the high frequencies of claims in the group health and group accident field. Manual processes around underwriting and claiming lead to high administrative costs with traditional insurers which squeeze the margins for insures and therefore lead to higher prices and lower profitability. Communication and administration can cost up to 30% of the premium. Grape’s fully digital approach and automation with E2E integrations into the systems of our customers allow us to be much more efficient in processing claims and managing the portfolio.
Today’s underwriting is limited to a few factors and little prevention is deployed compared to other insurance lines, resulting in high loss ratios. No incumbent insurers analyze or prevent sick leaves and accidents, even though trends in employees’ health show concerning results, experiencing a rise in claims linked to mental health issues in recent years.
Our approach with collecting structured data from day 1 and while processing every claim helps us to improve prevention and intervention and improving our pricing during underwriting which is very interesting business case for our reinsurance partner providing us capital and additional capital.
How we leverage data:
Early detection: Insurers today are being informed about a leave cases (claim) when it is already too late. We monitor sick leave from day 1.Pattern recognition: We identify unusual sick leave patterns and offer early interventions to lower the number of long-term leaves.
Targeted interventions: We apply interventions early, such as case management, coaching, part-time work, mental health therapy or remote work to reduce the risk of long absence and burnouts.
Strengthening the underwriting: Over time our models learn and better understand data patterns and the health risks of a company.
Can you highlight any specific features or technologies that differentiate your solution and contribute to sustainability?
Companies that are insured with us receive much more than just their insurance coverage, companies insured with us also receive access to our software platform supporting them in the claims process, analytics and benchmarking about their absences and leaves of employees, giving access to our health partners to deploy health prevention and coaching initiatives in the company.
We aim to reinvent employee insurance and health prevention at the workplace and by doing so increase productivity and improve employees’ physical and mental well-being.
Through our health platform employees’ insured by grape receive access to numerous health benefits that intend to foster healthy habits within and outside the workplace. We provide these health benefits by collaborating with companies that offer health-promoting or -enhancing products and services. These include therapy and coaching sessions, company retreats and workshops, modern sports equipment, CHM-programmes, meditation apps, gym subscriptions, healthy food and company fridges, as well as high quality self-care products.
What new opportunities does focusing on the SDGs provide for budding entrepreneurs in the insurtech space?
This part of our product goes hand-in-hand with goal number 3 – Good health and well-being – of the UN Sustainable Development Goal, which reads “Ensure healthy lives and well-being for all at all ages”. We support our customers in fostering health within their company, removing any stigma about mental health and preventing burnouts, depression and anxiety. Action is needed in order to support workers in carrying a balanced and healthy life. particularly in this day and age, where issues related to mental health are rising increasingly as shown by several statistics. For instance a survey carried out by Gesundheitsförderung Schweiz shows that in 2022 the percentage of Swiss employees who felt emotionally exhausted reached 30.3%
Besides contributing to changing the way health at work is perceived and managed and therefore improving current working conditions embossed by high levels of stress and anxiety, grape is changing the way employees’ insurances are handled, by digitising the claiming process and using machine learning for underwriting. This reinvention of the management of employees’ insurance contributes to modernising a market that is currently not keeping pace with the times. Grape helps achieve higher levels of economic productivity through technological upgrading and therefore resonates with Goal number 8 – Decent work and economic growth- which reads “promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”.
Last, but certainly not least, we chatted with Jerome Raguin, CEO of Ascentys, the third-place winner of the &gt;&gt;venture&gt;&gt; competition. Ascentys has developed a platform that helps companies measure, manage, report and improve their ESG performance in a way that is simple, accurate, defensible and cost-effective.
Jerome Raguin, CEO of Ascentys (Valentin Flauraud for Venture)
Jerome, let’s talk privacy. Does Ascentys with your SaaS-Solution get access to confidential GDPR-covered employee data? How do you handle that?
We contract directly with our customers and have their consent to use their data. Our customers can upload their data onto our secure platform which is hosted in Switzerland with SafeSwissCloud- military grade hosting.
Their data is fully anonymized- we remove any PID (Personal Identifiable Data) in addition to any corporate identifiers (name, logo, tag lines, product pictures etc).
How do they validate their ESG indicators?
We have validated our indicators with relevant experts (Academics, NGOs or organisations) for each domain.For example: The “Tax Transparency Network” NGO validated our approach to measuring Tax Transparency, our Carbon Footprint methodology is aligned with the GHG Protocol, and our Diversity KPIs were developed in collaboration with some DE&amp;I advocates in the UK and Germany.
Can you share any insights or lessons learned for other early-stage fintech startups interested in pursuing impact and sustainability goals?
There is a certain amount of “healthy skepticism” on the impact that FinTech startups can really deliver. Every company uses the word “impact” but in some cases it is not clear what their impact truly is (and that can be seen as posturing or Greenwashing).
In the end, I say be very practical, clear, transparent about how your start-up truly moves the needle and has a positive impact on the community you are serving (for example by referring to the SDGs).
What new opportunities does focusing on the SDGs provide for budding entrepreneurs in the fintech space?
The SDGs offer a simple framework for companies of all sizes (even start-ups) to say “great, we have an impact on Access to Finance” (SDG9.3 – Increase access to Financial Services &amp; Markets).
Besides acting as a “Sustainability North star” in terms of mission, it helps message your value in a language that investors and customers are familiar with.
Venture Competition 2024, Application Opens 1.October
To learn more about the winners of the &gt;&gt;venture&gt;&gt; competition or to learn how you can participate in the 2024 edition, visit https://bit.ly/3PP5zlu. The application period for the 2024 edition of &gt;&gt;venture&gt;&gt; will open on October 1, 2023.

Featured image credit: Philip Berntsen, CEO of Frigg, Gregory Inauen, CEO of grape and Jerome Raguin, CEO of Ascentys. All images are credited to Valentin Flauraud.
]]></description><link>https://fintechnews.eu/shaping-the-future-of-fintech-and-insurtech-insights-from-switzerlands-top-startup-competition-winners</link><guid>3286</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/07/frigg-venture-winner.jpg?x30842</dc:content ><dc:text>Shaping the Future of Fintech and Insurtech: Insights From Switzerland’s Top Startup Competition Winners</dc:text></item><item><title>Checkout.com Launches Video-Based AI Identify Solution</title><description><![CDATA[Checkout.com, the global payments solution provider, launches Identity Verification, its first product focused on improving the customer onboarding and identity verification process and expanding Checkout.com’s impact on customers’ digital experience.
Identity Verification utilises proprietary artificial intelligence and is trained on billions of identity and facial recognition documents. Built for businesses like Fintechs, Rental and Hiring companies, Gaming, and Government organisations, Identity Verification helps businesses scale by having a friction-free, compliant, and quick customer verification process. Developed on an expansive list of ID documents across 195 countries, Checkout.com Identity Verification can verify nearly every citizen in the world. In beta alone, it has verified over 10 million identities and identified over 1 million fraudulent identities.
AI-supported video-streaming to improve customer journey
Identity fraud is evolving, with deep fakes and deceptive documents growing in sophistication. Single-frame photos often fail due to poor image quality or are managed by a system that cannot keep up with new types of fraud. Checkout.com Identity Verification solves this problem by using 25 fps, 1000 images/flow video streaming. Using video mode on a mobile phone, customers now show an identity document and their face while the sophisticated AI guides users throughout the process, providing live feedback on how to show document authenticity and move their face so the AI can recognise them to combat fraud. It will also tell users if the document they are scanning is invalid, i.e. the wrong passport or driving licence.




   



    
   


   








Meron Colbeci
“The digital economy enables instantaneous access to products, services and outcomes, and it should be no different for identity verification. We deeply believe in the intersection between digital payments and online identity verification. Legacy systems requiring an appointment with a human being or limited to certain days a week are not conducive to the long-term growth of the digital economy. Utilising AI and algorithms trained on billions of data points, alongside a video stream that simply requires an internet connection, means we can now safely verify identity documents and facilitate customer onboarding from anywhere in the world”
Said Meron Colbeci, Chief Product Officer at Checkout.com.
Checkout.com Identity Verification removes the complexity of requiring a specific app or software compatibility and now allows users to verify their identity anytime and anywhere, requiring only an internet connection. Businesses can direct users to an interface with their logo and branding to facilitate a seamless experience in less than 120 seconds. Businesses can now onboard users 24/7, 7 days a week, without human interaction, all while building trust in the brand.
Overcoming ID fraud through AI and machine learning
Identity Verification’s AI can quickly verify authentic identities across over 3000+ identity documents. By moving the identity document on the video, the AI can monitor hologram and colour changes common in most documents, as well as transparency and opacity. With the user doing a series of short and easy face movements, the AI can quickly identify possible deep fakes or fraudulent identity documents.
The platform’s time to verify from start to completion is 120 seconds for 90% of users. 70% of identities are verified in less than 20 seconds, and any identities that can not be verified in that time are passed to a dedicated team for a systematic human review. These experts have been trained by customs police officers on ID document security features and the methodology to assess a face match. To date, Identity Verification has identified over 1 million fraudulent identities in beta alone.



Featured image credit &amp; Edited from Checkout.com
]]></description><link>https://fintechnews.eu/checkoutcom-launches-video-based-ai-identify-solution</link><guid>3280</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Checkout.com Launches Video-Based AI Identify Solution</dc:text></item><item><title>The Cheapest and Best Swiss Neobanks for Summer Travel</title><description><![CDATA[Online comparison service moneyland.ch compared offers from neobanks ahead of the summer travel season. Neon and Revolut got the best marks for using cards outside of Switzerland. Yuh takes first place in the comparison of accounts and interest rates.
The summer holiday – and the travel season that accompanies it – has begun. Cards from neobanks are substantially cheaper for making payments abroad than most credit cards from conventional banks, as multiple moneyland.ch studies have shown. But which of the neobanks has the lowest costs?
moneyland.ch compared the costs of making payments and cash withdrawals in Switzerland and outside of Switzerland (in euros, US dollars, and Thai Baht). The comparison included the neobanks CSX (Credit Suisse), Neon, Revolut, Wise, Yapeal, Yuh (Swissquote and Postfinance), and Zak (Bank Cler). In a second analysis, moneyland.ch also accounted for account-based services and interest rates.




   



    
   


   








Card transactions: Neon and Revolut are the cheapest
For the first comparison, moneyland.ch used the following user profile for calculations: Every year, the profile user uses a card from a neobank (in most cases a debit card) to make 10,000 francs of payments in Switzerland, and the equivalent of 2’000 francs of transactions each in euros, US dollars, and Thai baht while traveling. The person also makes one cash withdrawal in Switzerland, and a total of six cash withdrawals at foreign ATMs.
The moneyland.ch comparison accounted for all applicable costs during one year. Calculations of foreign currency transaction costs also account for markups on interbank currency exchange rates. These markups were determined by moneyland.ch based on samplings of currency exchange rates across 12 different days in June, 2023.
The results: “Neobanks have now become established in Switzerland. But even between the affordable neobanks, there are still price differences.”
Says moneyland.ch CEO Benjamin Manz
The cheapest solutions are the Neon Free account from Swiss neobank Neon, and the Standard account from foreign neobank Revolut. Both of these have total costs of 57 francs for users matching the profile.
Next in line are foreign service provider Wise and the Loyalty account from Swiss neobank Yapeal, both with total costs of 69 francs. The most expensive neobank accounts for this user profile are Zak Plus (318 francs) and CSX Black Debit Mastercard (264 francs).

Card transactions and bank accounts: Yuh is the cheapest
For the combined comparison of card transaction and bank account costs, moneyland.ch used this user profile: The profile user makes the same card transactions as in the first comparison, but they also receive their salary and pay their bills with their neobank account. The profile user receives 20 incoming bank transfers and makes 50 outgoing bank transfers per year. They also have a monthly standing order for their rent. The average balance of their private account is 5000 francs. Calculations account for interest earned on their account balance.
Only Swiss neobanks offer bank accounts with Swiss bank account numbers. Foreign financial service providers Revolut and Wise do not offer Swiss bank accounts. The Loyalty account from Yapeal has a Swiss bank account number, but cannot be used to pay bills or to transfer money to other bank accounts. For these reasons, those offers were not included in this comparison.
The results: Yuh is the cheapest, with total costs of 51 francs per year after deducting interest earned. It is followed by Neon, with 57 francs of total costs. Yapeal, with total costs of 111 francs, takes third place. The most expensive accounts are Zak Plus (281 francs) and CSX Black Debit Mastercard from Credit Suisse (264 francs).

Differences in features and transparency
Most of the neobanks included in the comparison have offers that do not have basic account fees. These accounts rank the highest in the cost comparisons. But in addition to these accounts with no basic account fees, some neobanks also offer premium accounts that have annual fees. These are also included in the comparisons. Advantages of premium accounts include lower cash withdrawal fees and additional features.
For example, Neon offers a sustainable account with a 60-franc basic annual account fee. Holders of this account indirectly finance the planting of trees. Accounts with payment cards made out of metal are offered by Neon (180-franc basic annual account fee) and Revolut (191.90-franc basic annual account fee).
There are also differences in transparency. Revolut is particularly lacking in this regard, as pricing and other conditions for Swiss customers are not communicated clearly, and in some cases can only be obtained through the mobile app.
More on this topic:Neobanks in Switzerland: A comprehensive guide
Methodology
Calculations are based on the following assumptions:

Annual card use:

Payments in Switzerland: 10,000 francs.
One cash withdrawal of 250 francs at a Swiss ATM (in the case of neobanks which charge different cash withdrawal fees depending on the ATM used, calculations are based on the higher fee).
Payments outside of Switzerland in EUR, USD, and THB: The equivalent of 2000 francs of transactions per currency.
Cash withdrawals outside of Switzerland: Two withdrawals each in EUR, USD, and THB, with each withdrawal worth the equivalent of 250 francs.


Annual bank account use:

20 incoming bank transfers.
50 outgoing bank transfers.
1 standing order for monthly transfers.
Average account balance: 5000 francs.



Samplings of currency exchange rates published by neobanks were taken in 2023 on June 5, 6, 7, 8, 9, 12, 13, 14, 19, 20, 21, and 22. The averages of the sampled rates were then compared with interbank rates as published by Oanda.
The individual cost factors are rounded to the nearest 5 centimes. Total costs are rounded to the nearest 1 franc.
Twint is not included in the comparison, as it cannot currently be used to make payments outside of Switzerland.

Featured image credit: Edited from freepik.
]]></description><link>https://fintechnews.eu/the-cheapest-and-best-swiss-neobanks-for-summer-travel</link><guid>3281</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>The Cheapest and Best Swiss Neobanks for Summer Travel</dc:text></item><item><title>Use of Digital Investment and Retirement Planning Solutions Picks up in Switzerland</title><description><![CDATA[In Switzerland, an increasing number of consumers are turning to digital solutions to independently build wealth and prepare for their future retirement life. A new study conducted by the Lucerne University of Applied Sciences and Arts in collaboration with Raiffeisen Switzerland and Vontobel found that not only is awareness of these new solutions high, but usage is also growing steadily.
A survey that ran in November 2022 and which polled more than 1,000 individuals residing in Switzerland found that more than two-thirds (72%) of these respondents were aware of digital retirement planning and investment solutions, up 11 percentage points from 2020’s 61%.
Percentage of Swiss residents aware of digital investments and retirement planning solutions, Source: Digitales Anlegen und Vorsorgen in der Schweiz: Trends, Bedürfnisse und gewünschte Produkteigenschaften, Lucerne University of Applied Sciences and Arts, Raiffeisen Switzerland and Vontobel
Usage of these digital solutions is also booming with penetration soaring from a mere 8% in 2020 to 20% in 2022, the study found.




   



    
   


   








Younger men from the German-speaking part of Switzerland with experience with securities were found to be the biggest adopters of digital investment and retirement planning solutions. However, interest among female investors is growing with 36% of surveyed women considering investing through a digital solution.
Usage of digital investment and retirement planning solutions among male and female investors, Source: Digitales Anlegen und Vorsorgen in der Schweiz: Trends, Bedürfnisse und gewünschte Produkteigenschaften, Lucerne University of Applied Sciences and Arts, Raiffeisen Switzerland and Vontobel
Demand for digital investment and retirement solutions is expected to continue growing rapidly as interest surges. In 2022, 41% of the respondents polled said they would consider using digital offerings, up by a notable 25 percentage point compared to 2020’s 16%.
Swiss investors’ preferences
The study, which also looked at consumers’ preferences and desired features when using digital investing and financial planning solutions, found that Swiss consumers are demanding sustainable solutions as well as personalized offerings.
48% of respondents indicated that the ability to invest in sustainable assets is important, followed by the availability of a wide range of investment opportunities and assets (40%). In addition to stocks and bonds, investors also showed high interest in alternative asset classes such as real estate, gold, and other precious metals.
Swiss investors’ preferences and what they consider being important in a digital investment and financial planning solution, Source: Digitales Anlegen und Vorsorgen in der Schweiz: Trends, Bedürfnisse und gewünschte Produkteigenschaften, Lucerne University of Applied Sciences and Arts, Raiffeisen Switzerland and Vontobel
Results also reveal that most individuals don’t want to be attributed a standard portfolio but instead want to put their own personal touch on it. However, only few solutions allowing personalized investments currently exist in the market. Theme investments are also particularly sought after, the study found.
When choosing a provider of digital investment or financial planning solutions, respondents named transparency over costs (73%), access via e-banking (58%), transparency about the investments in the portfolios (57%), prices (47%), and the reputation or brand of the provider (40%) as the five most important criteria.
Criteria Swiss residents consider important when choosing a provider of digital investment or retirement planning solutions, Source: Digitales Anlegen und Vorsorgen in der Schweiz: Trends, Bedürfnisse und gewünschte Produkteigenschaften, Lucerne University of Applied Sciences and Arts, Raiffeisen Switzerland and Vontobel
Switzerland’s digital investment and financial planning landscape
Awareness and adoption of digital investment and financial planning in Switzerland is rising on the back of a rapidly expanding industry.
According to the report, the number of solutions in the digital investment sector increased steadily in recent years. In 2023, the market was home to over 50 solutions, more than double the number observed in 2020. The most prevalent business models currently are robo-advisory and hybrid models, the research found, and traditional banks are playing a central role in the digital wealth management landscape.
Overview of digital investment and pension solutions in Switzerland, Source: Digitales Anlegen und Vorsorgen in der Schweiz: Trends, Bedürfnisse und gewünschte Produkteigenschaften, Lucerne University of Applied Sciences and Arts, Raiffeisen Switzerland and Vontobel
According to statistic portal and data platform Statista, the global robo-advisory market managed approximately CHF 1.8 trillion in assets in 2022.
The US lead the market with CHF 1.11 trillion worth of assets under management, or 61% of the global market, followed by China, Japan, the UK and Italy. These top five countries collectively account for approximately 783% of the global robo-advisory market.
The Swiss robo-advisory industry lags behind global leaders with managed assets of CHF 4.41 billion in 2022.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/use-of-digital-investment-and-retirement-planning-solutions-picks-up-in-switzerland</link><guid>3282</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/07/Percentage-of-Swiss-residents-aware-of-digital-investments-and-retirement-planning-solutions.jpeg?x30842</dc:content ><dc:text>Use of Digital Investment and Retirement Planning Solutions Picks up in Switzerland</dc:text></item><item><title>Vergleich von zwei Schweizer “Mini ERP”: Bexio und Swiss21</title><description><![CDATA[ 


Ein ERP ist ein integriertes Managementsystem, mit dem verschiedene administrative Aspekte eines Unternehmens verwaltet werden können. Finanz-, Personal-, Produktions- oder Zeitmanagement – alles kann online verwaltet werden. Ein ERP zielt darauf ab, Geschäftsprozesse zu automatisieren und zu zentralisieren, um die Effizienz und Transparenz der Abläufe zu verbessern.
Vergleichen Sie die Preise und Leistungen von Bexio mit einem anderen ERP Hersteller aus der Schweiz.
Eine grosse Zeit- und Geldersparnis, aber ist dieser Luxus nur grossen Unternehmen vorbehalten?
Nein, denn Selbstständige und kleine Unternehmen können ebenfalls ein ERP-System verwenden. Es gibt sogar unzählige davon. In diesem Artikel lernen Sie zwei “Mini-ERP” kennen, die in der Schweiz unumgänglich sind: Bexio und Swiss21. Ein Vergleich, der Ihnen mehr über die Vor- und Nachteile dieser beiden Cloud-Programme verrät, die zusammen in der Schweizmehr als 100.000 Nutzer haben.
Bexio und Swiss21 vereinfachen Ihre Administration
Bexio und Swiss21 sind beide auf ERP-Lösungen für kleine Unternehmen spezialisiert. Unter Kleinunternehmen versteht man den selbstständigen Unternehmer bis hin zum Unternehmen mit rund 50 Mitarbeitern.
Beide Unternehmungen bieten Cloud-Software an, die online zugänglich ist. Diese Programme sind sehr benutzerfreundlich, spielerisch und ihre Funktionen sind umfassend und erfüllen die Anforderungen von Kleinunternehmen perfekt.
Beide Hersteller sind flexibel und passen sich an verschiedene Branchen sowie unterschiedliche Unternehmensgrössen an. Das Führen der Buchhaltung, die Verwaltung des Personals, des Handels oder auch des Verkaufs sind so viele Vorteile, die in einer einzigen Verwaltungssoftware zentralisiert werden.
Sparen Sie Zeit und Geld – Bexio oder Swiss21?
Beide Unternehmen bieten verschiedene Arten von Abonnements an, die auf die Bedürfnisse und Merkmale der Kunden zugeschnitten sind, und es kann schwierig sein zu entscheiden, welches am besten zu den Bedürfnissen des eigenen Unternehmens passt. Im weiteren Verlauf dieses Artikels werden wir die drei Abonnementstufen vergleichen, die Bexio und Swiss21 anbieten, damit Sie sich ein Bild davon machen können, welche Software am besten zu Ihren Bedürfnissen passt.
Erstes Abonnement – die Basis
Swiss21.org bietet eine erste kostenlose Version der Software an, um Personen zu ermutigen, die die Digitalisierung ihres Unternehmens in Angriff nehmen möchten. Die kostenlose Version ist für maximal eine Person gültig, jeder weitere Nutzer kostet 5.- pro Monat.
Bei Bexio kostet das erste Angebot 45 CHF pro Monat bei monatlicher Zahlung oder 35 CHF pro Monat im Jahresmodell. Dieses erste Angebot umfasst einen Benutzer. Wenn Sie weitere hinzufügen möchten, müssen Sie ein umfangreicheres Abonnement wählen.




	BexioSwiss21




	Kostenlose Version❌✅


	Preis45.- mit einem Benutzer (monatlich)35.- mit einem Benutzer (Jährlich)0.- mit einem Benutzer (Möglichkeit, weitere Benutzer für 5.- hinzuzufügen)


	Buchhaltung✅✅


	Rechnungen &amp; Offerten✅✅Limitiert auf 1000 Dokumente im Jahr


	Zeiterfassung❌1 Benutzer inbegriffen danach 5.- pro Benutzer


	Spesenmanagement❌1 Benutzer inbegriffen danach 5.- pro Benutzer


	Lohnabrechnungen7.- für 1 Mitarbeiter | 25.- für 5 Mitarbeiter3 inbegriffen danach 2,50.- pro Mitarbeiter


	Lagerverwaltung✅Demnächst verfügbar


	Online-ShopAb 89.- pro Monat✅




Buchhaltung mit Bexio und Swiss21
Im ersten Abonnement, das Bexio für 45 CHF pro Monat anbietet, ist das Buchhaltungsmodul sehr umfassend. Bei Swiss21 ist die Buchhaltung kostenlos, aber relativ einfach. Sie bietet beispielsweise weder eine Nettomehrwertsteuer- noch eine SSS-Methode an.
Buchhaltung Vergleich
Swiss21 bietet in seinem Gratis-Paket eine Zeiterfassung für eine Person über die App AbaClik an oder direkt im Cloud-Portal. Beim anderen Unternehmen gibt es in diesem ersten Paket (Starter) keine Zeiterfassung.
Lohnbuchhaltung Vergleich
In seinem kostenlosen Angebot bietet Swiss21 drei Lohnabrechnungen an und es ist möglich, für 2.50 CHF pro Mitarbeiter, weitere Lohnabrechnungen hinzuzufügen.
Die Bexio-Lohnbuchhaltung ist im ersten Abonnementmodell nicht enthalten. Stattdessen können Unternehmen eine Option “Lohnabrechnung” für 7 CHF pro Monat für einen Mitarbeiter oder ein Paket mit 5 Lohnabrechnungen für 25 CHF erwerben.
Rechnungen, Offerten &amp; Lieferantenbelege
Beide Unternehmungen bieten einen kompletten und einfachen Prozess von der Offerte, Auftrag, über die Rechnungen bis zur Verbuchung in der Buchhaltung alle relevanten Stufen abbildet. Auch das Mahnsystem kann auf Wunsch automatisiertwerden. Bei Bexio gibt es eine Mahnungsstufe und bei Swiss21 gibt es 3. Bei der kostenlosen Version von Swiss21 ist der Nutzer auf 1000 Dokumente im Jahr beschränkt, der andere Softwarehersteller kennt hier keine Einschränkung auf demDokumentenvolumen.
Lagerverwaltung
Das erste Unternehmen bietet in seinem ersten Abonnementmodell eine Lagerverwaltung an, während das zweite diese noch nicht anbietet; sie ist für Ende 2023 geplant.
Online-Shop Vergleich
Bei Swiss21 gehört der Online-Shop zum Grundangebot. Es ist also kostenlos möglich, einen Online-Shop mit einem eigenen Domainnamen einzurichten. Dasselbe gilt für die Online-Kasse. Anschliessend ist es möglich, diese beiden Produkte durch den Erwerb der verfügbaren Add-ons zu professionalisieren. Das Add-on E-Commerce Plus kostet 29 CHF pro Monat und das Add-on POS-Plus 19 CHF pro Monat.
Bexio schliesst seinen Online-Shop nicht in sein erstes Angebot ein, aber die Nutzer haben die Möglichkeit, ihn für 89 CHF pro Monat als Option zu erwerben.
Zweites Abonnement – die Erweiterung
Für das zweite verfügbare Abonnement bieten beide Anbieter ein Abonnement mit 3 Benutzern an, die Zugriff auf die Zeiterfassung sowie die Verwaltung von Spesenabrechnungen haben.
Bei Swiss21 kostet dieses zweite Angebot 21 CHF und es ist möglich, für 5 CHF pro Person und Monat mehr Benutzer hinzuzufügen, die Zugriff auf alle Funktionen haben. Swiss21 bietet im zweiten Abonnement den vollen Funktionsumfang der Buchhaltung und des Rechnungsprogramm an. Es gibt die Möglichkeit Saldo- &amp;amp; Nettomehrwersteuermethode, dieAnbindung des SumUp Terminals sowie die Möglichkeit von Schnittstellen (API) zu Drittanwendungen.
Das zweite Abonnement von Bexio wird für 65 CHF pro Monat im Jahresmodell und für 75 CHF im Monatsmodell angeboten.




	BexioSwiss21




	Preis75.- mit 3 Benutzer (monatlich)65.- mit 3 Benutzer(Jährlich)21.- mit 3 Benutzer(Möglichkeit, weitere Benutzer für 5.- hinzuzufügen)


	Buchhaltung✅✅


	Rechnungen &amp; Offerten✅✅Limitiert auf 2100 Dokumente im Jahr


	Zeiterfassung3 Benutzer maximum3 Benutzer inbegriffen danach 5.- pro Benutzer


	Spesenmanagement3 Benutzer maximum3 Benutzer inbegriffen danach 5.- pro Benutzer


	LohnabrechnungenOptional25.- für 5 Mitarbeiter7 inbegriffen danach 2,50.- pro Mitarbeiter


	Lagerverwaltung✅Demnächst verfügbar


	Online-ShopAb 89.- pro Monat✅




Drittes Abonnement – die Profi-Liga
Im PRO + -Abonnement berechnet der erste Hersteller 115 CHF pro Monat im Jahresmodell und 125 CHF im Monatsmodell für 25 Benutzer, die Zugriff auf alle Funktionen haben. Der Online-Shop hingegen bleibt immer nur als Option für 89 CHF pro Monat verfügbar.
Das PRO-Abonnement vom zweiten Hersteller kostet 42 Franken und beinhaltet 5 Benutzer, die ebenfalls Zugang zu allen Funktionen haben. Dieses Angebot umfasst 21 Lohnabrechnungen und die Benutzer können für 2.50 CHF pro Mitarbeiter weitere hinzufügen.




	BexioSwiss21




	Preis125.- mit 25 Benutzer (monatlich) | 115.- mit 25 Benutzer (Jährlich)42.- mit 5 Benutzer (Möglichkeit, weitere Benutzer für 5.- hinzuzufügen)


	Buchhaltung✅✅


	Rechnungen &amp; Offerten✅✅ Limitiert auf 5000 Dokumente im Jahr


	Zeiterfassung25 Benutzer maximum5 Benutzer inbegriffen danach 5.- pro Benutzer


	Spesen Management25 Benutzer maximum5 Benutzer inbegriffen danach 5.- pro Benutzer


	Lohnabrechnungen25 inbegriffen21 inbegriffen danach 2,50.- pro Mitarbeiter


	Lagerverwaltung✅Demnächst verfügbar


	Online-ShopAb 89.- pro Monat✅




Vergleichen wir abschliessend die beiden Softwareprodukte aus rein preislicher Sicht. Wenn ein Unternehmen 25 Benutzer auf Bexio haben möchte, würde dies 125 CHF kosten. Bei Swiss21 müsste es 42 CHF bezahlen, plus 5 CHF für 20 zusätzliche Benutzer, also 100 CHF zusätzlich zu den 42 CHF. Nach dieser Logik wäre Swiss21 also bis zu 21 Angestellten billiger (42+(15×5)=117). Danach wird sich der erste Hersteller mehr lohnen, vorausgesetzt, man braucht keinen Online-Shop.
Bexio-Login und Swiss21-Konto für einen kostenlosen Test!
Der erste Hersteller ermöglicht es, seine Software 30 Tage lang kostenlos und unverbindlich zu testen, und zwar ohne Eingabe einer Kreditkarte. Das zweite Unternehmen bietet, wie bereits erwähnt, ein kostenloses erstes Abonnement ohne zeitliche Begrenzung an.





Starke Partner hinter den zwei Hersteller
Wie Sie sicher schon bemerkt haben, braucht es viele Ressourcen, um eine Software zuerstellen, mit Inhalten zu versorgen und zu pflegen! Man muss sich ständig über Trends informieren, investieren und innovieren, selbst bei einem Mini-ERP.
Beide ERP-Anbieter können auf einen Mentor zählen. Hinter Bexio steht die Versicherungsgesellschaft Die Mobiliar. Hinter Swiss21 steht das Unternehmen Abacus Research AG, ein Anbieter von Business-Software.
Zwei Software 100% Swiss Made
Alle Mitarbeiter beiden Software sind in der Schweiz ansässig, das Gleiche gilt für die Entwicklung der Anwendungen. Die Daten der Swiss21-Anwendungen (ausser 21.CRM, das ein deutsches Programm ist) sowie die Daten von Bexio werden ebenfalls in der Schweiz gespeichert.
Kostenloser Support 24 Stunden am Tag, 7 Tage die Woche
Der Support bei Swiss21 ist völlig kostenlos und jeder Kunde kann sich per E-Mail oder über die Hilfe-Lasche an den Support wenden. Dasselbe gilt für Bexio, die zusätzlich eine Hotline anbieten, was durch die höheren Abonnementspreise gerechtfertigt sein kann.
Fazit: Bexio oder Swiss21?
Swiss21.org ist die einzige der beiden Mini-ERP, die ein kostenloses Abonnement anbietet, um das unternehmerische Abenteuer digital zu beginnen. Bexio hingegen bietet in seinem ersten Angebot mehr Möglichkeiten auf der Ebene der Buchhaltung.
Die Swiss21-Abonnements bieten Zugang zur Lohnverwaltung, zum Online-Shop, zur Spesenverwaltung und zur Zeiterfassung, alles auf einer einzigen Plattform.
Swiss21 verfügt über einen Online-Shop, während Bexio diesen als kostenpflichtige Option anbietet, aber seinerseits von einer Lagerverwaltung profitiert.Swiss21 ist flexibel und bietet an, einen Kostenvoranschlag anzupassen, indem man einen oder mehrere Benutzer hinzufügt. Beim anderen Anbieter ist es notwendig, die nächste Stufe des Abonnements zu erreichen.
Schliesslich kann Swiss21 langfristig mit der Abacus-Business-Software verbunden werden. Ein Vorteil für den Fall, dass das Unternehmen wachsen und das ERP-System wechseln sollte, denn dann würde viel Arbeit für die Datenübernahme entfallen. Oder man kann auch auf Anfrage ein Enterprise Abo lösen für mehr Kapazität.
Bexio und Swiss21 FAQ

			
				
1. Was sind die Alternativen von Bexio?

				
					
In der Schweiz gibt es mehrere Alternativen, die ähnlichen Funktionen für die Administration von Unternehmungen anbieten. Wie es bereits in diesem Artikel genannt wurde, bietet Swiss21 eine interessante Alternative. Ausserdem gibt es noch Klara das von der Schweizer Post finanziert wird und Banana. Es gibt noch weitere Buchhaltungssoftware-Optionen in der Schweiz aber diese Liste enthält die beliebtesten Alternativen.

			
			

			
				
2. Bexio Apps und Marketplace

				
					
Das Unternehmen bietet in seinem Marketplace verschiedene Apps an, um sein Angebot zu erweitern. Zum Beispiel die ein digitales Archiv, die Verbindung mit einem Newsletter Tool (MailXpert) oder die Kundenzufriedenheit zu messen mit Deeptrue. Leider sind diese Anwendungen nicht alle miteinander verbunden und verursachen zusätzliche Kosten. DieseApps ermöglichen jedoch, das Angebot zu erweitern, was bei dem anderen Hersteller nicht möglich ist. Bei Swiss21 sind jedoch alle verfügbaren Apps miteinander vernetzt und ermöglichen eine Automatisierung der Aufgaben.

			
			

			
				
3. Was ist der Preisunterschied von den zwei Hersteller?

				
					
Wie in diesem Artikel erläutert, variiert der Preis von Bexio je nachdem, ob Sie jährlich oder monatlich zahlen. Wenn man jährlich zahlen möchte, kann man bis zu 20% der Kosten einsparen, ist aber gezwungen, direkt ein ganzes Jahr zu zahlen, um die Kosten zu decken. Bei monatlicher Zahlung werden die Preise im Vergleich zur Konkurrenz recht hoch. Bei Swiss21 hatman nur die Möglichkeit, monatlich zu zahlen. Das hat den Vorteil, dass man das Programm jederzeit wechseln kann.

			
			

			
				
4. Was sind die Erfahrungen von den Mini-ERPs?

				
					
Zum Zeitpunkt der Erstellung dieses Artikels waren die Meinungen zu Bexio auf den verschiedenen Bewertungsplattformen unterschiedlich. Auf Google haben sie mit 4,1 von 5 Punkten eine positive Bewertung. Auf Captera haben sie eine durchschnittliche Bewertung mit 2,9 von 5 und auf Trustpilot hat das Unternehmen eine sehr niedrige Bewertung von 1,7 von 5,die von mehr als 67 Personen vergeben wurde. Swiss21 hat weniger Bewertungen, aber bessere Bewertungen auf den in diesem Artikel erwähnten Bewertungsplattformen. Auf Google hat Swiss21 eine Bewertung von 4,7 von 5, auf Captera eine einzige Bewertung mit 5 Sternen und auf Trustpilot eine Bewertung von 4 von 5.

			
			

			
				
5. Bexio Treuhänder und Swiss21 Treuhänder

				
					
Beide Hersteller haben eine Webseite mit den verschiedenen Treuhandpartnern. Diese wurden von jeder der Anwendungen geschult und können bei fachspezifischen Fragen oder bei der Einrichtung des Kontos kontaktiert werden. Dies ist ein kostenpflichtiger Zusatzservice, der kleinen KMUs beispielsweise beim Abschluss ihrer Buchhaltung am Jahresende helfen kann.

			
			
Gesponserte Banner Integration:




]]></description><link>https://fintechnews.eu/vergleich-von-zwei-schweizer-mini-erp-bexio-und-swiss21</link><guid>3279</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Bexio-und-Swiss21-1024x576.png?x30842</dc:content ><dc:text>Vergleich von zwei Schweizer “Mini ERP”: Bexio und Swiss21</dc:text></item><item><title>SumUp Selects Form3 for UK Payments to Boost Growth</title><description><![CDATA[SumUp, the financial partner for over 4 million businesses worldwide, has selected Form3, the cloud-native account-to-account payments platform, to provide direct access into the UK Faster Payments Scheme (FPS) and Bacs Scheme to further enhance its business account offering for UK customers.
SumUp will connect to the Form3 platform via a single API where Form3 will manage the payment processing. In a unique model pioneered by Form3, Barclays will provide scheme settlement with the Bank of England on SumUp’s behalf. This will enable SumUp to build and create unique products for its UK small and medium business customers.
Michael Mueller, Form3 CEO, said:




   



    
   


   








Michael Mueller
“SumUp is a major name in mobile point of sale and our core values very much align; a tech-first approach to payments with a primary goal of delighting customers. We are very pleased to support their expansion and aid their mission to support small and medium businesses which is the lifeblood of the UK economy. SumUp is yet another Faster Payments direct participant choosing to use Form3 technology, further strengthening our position as the leading cloud-native account-to-account payment platform for the world’s leading banks and fintech organisations.”
Direct scheme participation will lead to many benefits for SumUp including more resilient and reliable payments, the ability to seamlessly scale and to reduce their total processing costs as they continue their rapid expansion. Form3’s fully managed service also future proofs SumUp against the potentially disruptive impact of mandatory scheme and regulatory changes such as the New Payments Architecture (NPA).
David Tatarishvilli, Head of Business Operations Banking Tribe at SumUp, comments:
David Tatarishvilli
“Having thoroughly assessed the UK market, Form3 was the standout candidate. We are delighted to partner with Form3 as our payments provider for UK Faster Payments. Form3’s established reputation in the market, proven operational resiliency and ability to scale with our growth plans made them our chosen partner. As a platform, Form3 can also help us break into new markets and create new payments offerings, so we are very excited about what the future holds.”

Featured image credit: Edited from freepik.
]]></description><link>https://fintechnews.eu/sumup-selects-form3-for-uk-payments-to-boost-growth</link><guid>3277</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>SumUp Selects Form3 for UK Payments to Boost Growth</dc:text></item><item><title>N26 Launches Local IBAN Accounts in France</title><description><![CDATA[N26 announced the launch of its French IBAN bank accounts.
Aimed at combating IBAN discrimination, the French IBAN gives French consumers another reason to leverage N26 as their primary bank account. Starting today, all new N26 customers in France will receive a local French IBAN. Existing customers of the German-regulated digital bank will be migrated from their German (DE) IBAN to a new local French (FR) IBAN over the coming weeks, with the migration of all customers expected to be concluded before the end of 2023.
Underlines Jérémie Rosselli, GM N26 France &amp; Benelux.




   



    
   


   








Jérémie Rosselli
“While the European single market exists for the benefit of customers, with EU legislation mandating seamless acceptance across borders for all European IBANs, IBAN discrimination continues to exist today. This sometimes creates unnecessary friction for banking customers who may struggle to deposit their salaries or pay for utilities if they do not have a local IBAN. At N26, we want to change the world’s relationship with money for the better, and strive to offer locally relevant products that meet our customer’s needs in every market. Having launched local IBANs to millions of other customers in our European markets, we’re excited that all our customers in France will be able to have a fully French N26 account with a French IBAN by the end of the year.”
Launched in 2017 in France, N26 has welcomed more than 2.5 million customers in the market to date, and is continuing to double down on its commitment to offer a locally relevant product for customers in France as it establishes itself as the leading digital bank in the country.
The launch of the French IBAN not only responds to strong customer demand, but also supports N26 being used increasingly as a primary account – an important step as the company moves towards profitability. Previous local IBAN launches in Spain and Italy reliably led to a doubling of customer deposits in the 18-24 months that followed the introduction of local IBANs. N26 additionally saw a significant increase in the number of premium subscribers in these markets following its introduction of local IBANs. More than half of the customers that chose N26 in France over the last two years have already opted for a paid account subscription.

Featured image credit: Jérémie Rosselli, GM N26 France &amp; Benelux. Background image edited from N26.


]]></description><link>https://fintechnews.eu/n26-launches-local-iban-accounts-in-france</link><guid>3278</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>N26 Launches Local IBAN Accounts in France</dc:text></item><item><title>Numarics sichert sich 10 Millionen CHF Seed Funding, UBS als Investorin dabei</title><description><![CDATA[Das Schweizer Fintech-Startup Numarics hat sich eine Seed-Runde in Höhe von 10 Millionen CHF für seine KI-gestützte Finanz- und Administrationslösung für KMU gesichert. Die Investition wurde von UBS über UBS Next, den Geschäftsbereich für Venture und Innovation des Unternehmens, zusammen mit FiveT Fintech und den früheren Investoren Wingman Ventures und Seed X geleitet.
Die Seed-Investition wird das Wachstum von Numarics durch Akquisitionen, die weitere Expansion in der Schweiz und die weitere Produktentwicklung unterstützen, um eine breitere Palette von Dienstleistungen anzubieten.
Numarics wurde 2020 von Dominique Rey, einem Senior-Experten für Finanz- und aufsichtsrechtliche Prüfungen mit langjähriger Erfahrung bei PwC und Grant Thornton, und Kristian Kabashi, einem Experten für Geschäftstransformation und digitale Innovation, gegründet. Numarics wurde von Experten in den Bereichen Finanzen, Wirtschaftsprüfung, KI und Automatisierung mit der Vision entwickelt, die Geschäftsverwaltung durch einen Mobile-First-Ansatz nahtlos in den Lebensstil der Unternehmer von heute zu integrieren.




   



    
   


   








Numarics macht die Verwendung unterschiedlicher Software für Buchhaltung, Rechnungsstellung, Dokumentenmanagement und Liquiditätsplanung überflüssig. KMU können dadurch Geld sparen, da sie keine entsprechenden Berater einstellen müssen. Numarics bietet eine digitale CFO-Lösung, auf die sich Unternehmen verlassen können. Die Kombination aus KI und menschlichem Fachwissen ermöglicht ein einzigartiges Benutzererlebnis, das schnell, intelligent und sicher ist. Es automatisiert viele Aspekte des Backoffice und bietet Nutzern und Experten Vorteile, indem es ihnen lästige Verwaltungsaufgaben abnimmt und Einblicke in das gesamte Unternehmen gewährt.
Dominique Rey
Dominique Rey, Mitbegründer und CEO von Numarics, kommentierte:
«Unser Ziel ist klar: Wir wollen die Geschäftsverwaltung für KMU, die durch zeitraubende Verwaltungsaufgaben belastet sind, verändern. Wir integrieren komplexe Prozesse wie Buchhaltung, Gehaltsabrechnung und Steuern in benutzerfreundliche Apps, so dass unser KI-gestütztes App-Ökosystem die Prozesse rationalisieren kann. KMU haben die Möglichkeit, auf unsere internen Experten zuzugreifen, die unsere Digital-CFO-Lösung bilden.»
Numarics hat bis heute 19,3 Millionen CHF eingeworben. In kurzer Zeit hat das Unternehmen grosse Erfolge erzielt und das Vertrauen vieler Unternehmen gewonnen. Derzeit ist Numarics von neun Standorten in der Schweiz aus tätig. Mit einem Team von über 100 Experten hat das Unternehmen einen beachtlichen Kundenstamm von über 3.000 Kunden aufgebaut. Numarics hat in diesem Jahr vier Akquisitionen getätigt, darunter die Übernahme von a&amp;o kreston, einem der führenden Treuhandunternehmen in der Schweiz.
Mike Dargan, Group Chief Operations and Technology Officer von UBS, erklärte:
Mike Dargan
«Mit UBS Next investieren wir in Unternehmen, die dazu beitragen, die Zukunft des Bankgeschäfts zu gestalten und die sich wandelnden Bedürfnisse unserer Kunden zu erfüllen. Mit dieser Investition unterstützen wir das Wachstumsengagement von Numarics sowie den Ausbau neuer und bestehender Produkte für KMU, einer wichtigen Kundenbasis für unser Unternehmen in der Region.»
Numarics lancierte sein Produkt erstmals im September 2021 und wurde mit Gold in der Kategorie Enterprise von Best Of Swiss Apps 2021 ausgezeichnet. In diesem Jahr wurde Numarics zudem von den renommierten Swiss FinTech Awards als eines der Top 10 Fintech-Unternehmen in der Schweiz und als eines der Top 5 Startups in der Wachstumsphase ausgezeichnet.

Featured image credit: Dominique Rey, co-founder and CEO of Numarics .Edited from freepik.
]]></description><link>https://fintechnews.eu/numarics-sichert-sich-10-millionen-chf-seed-funding-ubs-als-investorin-dabei</link><guid>3276</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Refintiv-KYC-AML-Soultions-for-Fintech-.png?x30842</dc:content ><dc:text>Numarics sichert sich 10 Millionen CHF Seed Funding, UBS als Investorin dabei</dc:text></item><item><title>Smartes Heim: Ideen für die Integration von Elektronik im Haushalt</title><description><![CDATA[Unsere Häuser werden schlauer. Intelligente Sprachsteuerung, automatisierte Routinen und Roboter in allen Räumen – der Fantasie sind fast keine Grenzen mehr gesetzt. In diesem Ratgeber sind ein paar Ideen gesammelt, um verschiedene smarte Elektronik als Alltagshilfen oder als kleinen Luxus ins Haus zu integrieren:

Ein Heimkino für gemütliche Abende zu Hause
Multi-Talente: Sprachgesteuerte Alltagshilfe
Smarte Lichtschalter und Glühbirnen
Haussicherung durch Smart Home
Roboter: Staubsaugen und Rasenmähen

Im Folgenden werden die einzelnen Punkte weiter erläutert und es wird aufgezeigt, in welchen Bereichen Elektronik unseren Alltag einfacher machen und wo es ein wenig Luxus hinzufügen kann.

Heimkino für Filmabende oder Serien Binge-Watching
Als grosser Film und/oder Serien-Fan ist ein eigenes Heimkino ein Luxus, den man sich gönnen muss. Eine riesige Leinwand von vidaXL, einen Beamer, der den Film auf die Leinwand projiziert und ein kuscheliges Sofa sind die Grundbausteine eines Kinos für zu Hause. Es sich auf der Couch zwischen weichen Kissen und kuscheligen Decken mit einer Schale Popcorn gemütlich zu machen, ist für viele die ideale Art und Weise zum Entspannen. Mit professionellen Lautsprechern wird das Kinoerlebnis komplett.
Beim Einrichten des Heimkinos ist es wichtig, daran zu denken, dass der Raum möglichst dunkel ist, hierzu können Rollladen oder Gardinen zur Abdunklung praktisch sein. Dann gibt es nämlich die optimale Bildqualität, auch wenn draussen die Sonne scheint.
Sprachgesteuerte Alltagshilfe sind Multi-Talente
Heutzutage gibt es viele verschiedene sprachgesteuerte Lautsprecher und Smart Home Hubs. Die Smart Speaker sind praktische Alltagshilfen, denn mit einem kurzen Kommando kann zum Beispiel das Licht ein- und ausgeschaltet werden oder beim Kochen ein Timer gestellt werden.
So ein Lautsprecher kann natürlich auch Musik spielen. Musik hilft in verschiedenen Situationen die Stimmung zu beeinflussen und zum Beispiel beim langweiligen Aufräumen mit guter Musik dazu beizutragen, die Pflichten etwas angenehmer zu gestalten. Die Smart Speaker sind mit dem Internet verbunden und können Musik entweder über das Radio oder Musikstreamingdienste abspielen.
Wenn im Haus die Temperaturregelung digitalisiert ist, kann diese über Sprachsteuerung geregelt werden. Ein kurzes Kommando, und die Temperatur wird nach oben oder nach unten reguliert.
Als besonderer Gimmick kann eine sprachgesteuerte Anlage Witze erzählen, Auskünfte über das Wetter geben oder jeden Tag um 15 Uhr zum Rausgehen auffordern.
Wer sich mit der Sprachsteuerung nicht ganz wohl fühlt, findet alternative Lösungen mit Fernbedienungen, einem Tablet oder dem eigenen Smartphone. So können auf jeden Fall Dinge wie Licht, Temperatur und Musik leicht kontrolliert werden.
Tipp: Die sprachgesteuerten Lautsprecher werden zu wahren Alltagshilfen, wenn Routinen programmiert werden. Zum Beispiel so, dass ein einfacher Satz wie „Guten Morgen!” das Licht einschaltet, die Lieblingsmusik anfängt und die Kaffeemaschine angeht. Dann kann der Tag richtig beginnen.
Smarte Lichtschalter und Glühbirnen
Licht spielt in unseren Heimen eine ganz besondere Rolle. Das Licht eines Raumes hat einen grossen Einfluss auf die Stimmung und die Atmosphäre. Beim Arbeiten im Homeoffice benötigt es volles Licht, um die Augen zu schonen und Energie zu geben. Beim romantischen Abendessen zu zweit ist es jedoch angenehmer mit etwas weniger Licht.
Smarte Lichtschalter und Glühbirnen helfen, das Licht im Alltag zu steuern. So kann man morgens zum langsam heller werdenden Licht wie beim natürlichen Sonnenaufgang wach werden oder mit nur einem Satz über die Sprachsteuerung alle Lichter beim aus dem Haus gehen ausmachen.
Die smarten Lichtschalter sind mit dem Smartphone oder dem sprachgesteuerten Lautsprecher verbunden. Ein Gang zum Lichtschalter ist also nicht mal unbedingt notwendig, alles wird gemütlich vom Bett, Sofa oder sogar von unterwegs gesteuert.
Haussicherung durch Smart Home
Neben einem Alarmsystem gibt uns die Elektronik eines Smart Homes auch noch andere Möglichkeiten, um unser Heim zu sichern. Stressfreies Reisen wird dadurch ermöglicht, dass das Licht mit einem Timer automatisch jeden Abend eingeschaltet wird. So scheint es, als ob immer jemand zu Hause ist.
Ausserdem ist es möglich, Kameras im Aussen- und Innenbereich zu installieren. So hat man auch aus dem Urlaub immer einen Blick auf sein Zuhause. Wenn Hund und Katze tagsüber alleine zu Hause sind, kann eine Kamera beruhigend sein, um zwischendurch einzuchecken.
Roboter: Staubsaugen und Rasenmäher
Jeden Tag zu einem sauberen Boden nach Hause zu kommen klingt wie ein Traum. Ein Saugroboter macht diesen Traum zur Realität. Das Saugen geschieht beispielsweise automatisch jeden Tag um 10 Uhr. Einige moderne Saugroboter wischen zudem gleichzeitig den Boden. Eine lästige Alltagsaufgabe einfach delegiert.
Auch das Rasenmähen kann leicht digitalisiert und automatisiert werden. Die grosse Auswahl an Robotern bietet für jeden eine passende Lösung. Ein einfaches Kabel am Rande des Gartens hilft dem Roboter seinen Weg zu finden.
Es gibt also viele Möglichkeiten, ein Heim „smarter” zu machen. Nicht alles muss gleichzeitig installiert werden, sondern es ist wichtig auszuwählen, was für den einzelnen Haushalt Sinn macht. Es geht um eine Vereinfachung des Alltags, aber auch um kleine Spielereien, die täglich gute Laune machen.
]]></description><link>https://fintechnews.eu/smartes-heim-ideen-fur-die-integration-von-elektronik-im-haushalt</link><guid>3275</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/07/smart-home.jpg?x30842</dc:content ><dc:text>Smartes Heim: Ideen für die Integration von Elektronik im Haushalt</dc:text></item><item><title>Banks Team up with Fintech Companies to Enhance Payment Offerings</title><description><![CDATA[Banks from around the world are teaming up with fintech companies to expand their payment offerings in a bid to enhance customer experience and respond to rising competition, a new analysis by FXC Intelligence, a financial data company specializing in international payments, payment cards, cryptocurrency and e-commerce industries, shows.
A new report released on June 16, 2023 looks at bank-fintech partnerships announced in Q2 2023, highlighting trends that emerged in the last quarter.
According to the report, banks are actively pursuing partnership opportunities with digital players as they seek to stay relevant.




   



    
   


   








In Q2 2023, several partnerships were announced, focusing on helping banks to either launch new payment products, improve their cross-border payment offerings or prepare for a future where real-time payments are the norm, the analysis shows.
Iceland’s Kvika Bank, for example, announced in June a collaboration with Finnish card issuing and processing company Enfuce to offer a range of modern card and mobile payment solutions, including new subscription-based services, a Visa consumer credit card and Apple Pay and Google Pay integration.
Through the partnership, Kvika Bank will also be looking to revamp Aur, a mobile payment app that the bank acquired in 2021, and add “compelling features and benefits that customers want to enjoy,” the bank said in a statement.
In Germany, digital bank N26 turned to Stripe to offer more options and a more seamless experience to its customers. The partnership, announced in June, focused on enabling credit card, debit card, and digital wallet top-up options in the N26 app.
Other banks, such as GMO Aozora Net Bank, from Japan, and Barclays, from the UK, unveiled new collaborations in Q2 2023 to enhance their cross-border payment offerings. GMO Aozora Net Bank teamed up with money transfer specialist Wise in May to leverage the company’s business-to-business (B2B) offering, Wise Platform, and provide more efficient and lower-cost international transfer services to 80,000 corporate customers.
Barclays, meanwhile, announced that same month a collaboration with B2B paytech company TransferMate to bring its international receivables solution to the bank’s corporate customers.
Meanwhile, banking incumbents such as SouthState are tying up with payment fintech firms to lay the foundations for instant payments and the forthcoming launch of FedNow. Regional bank SouthState announced a partnership with cloud payments and financial messaging startup Volante Technologies in April to ramp up its payment capabilities, gain in efficiency and attract new customer segments, the bank said. FedNow, a new interbank instant payment infrastructure developed by the US Federal Reserve, is scheduled to go live later this month.
Bank-fintech partnerships in Q2 2023, Source: FXC Intelligence, June 2023
These new partnerships are being inked at a time when competition is ramping up the banking space, fueled by the rise of the fintech sector and digitalization.
In Asia, banking incumbents are transforming their payment strategies in response to evolving customer demands and technological advancements. A 2023 interview conducted by McKinsey and Company questioned executives from three leading banks in Asia, namely ICICI Bank, DBS Bank and the Commonwealth Bank of Australia (CBA), on their payment strategies.
Findings from the interviews show that, across the region, banks are leveraging the rise of digital payments by expanding their digital payment offerings and collaborating with fintech companies to provide innovative solutions.
Another trend outlined by the banking executives is the advent of open banking initiatives, a phenomenon that’s encouraging incumbents to team up with digital players to offer customers a broader range of payment options and personalized services.
Finally, as real-time payments are becoming the norm, Asian banks are investing heavily in infrastructure and tech to facilitate faster and more efficient payments.
Demonstrating the growth of bank-fintech partnerships, Wise said in January 2023 that its Wise Platform B2B offering recorded strong growth in 2022, launching 15 new partnerships last year for a total of 60 partners globally. The company said that nearly 10 million new customers gained access to Wise’s cross-border payment infrastructure via the platform in 2022 alone.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/banks-team-up-with-fintech-companies-to-enhance-payment-offerings</link><guid>3274</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Banks Team up with Fintech Companies to Enhance Payment Offerings</dc:text></item><item><title>Digitaler Briefkasten und automatisierte Buchhaltung: PEAX und accounto vertiefen die Zusammenarbeit</title><description><![CDATA[Zwischen Unternehmen und Treuhänder:innen gibt es in der Regel einen für beide Seiten kritischen Punkt: Die rasche und vollständige Zustellung der Belege.
Was bisher von Medienbrüchen, mehrfachem gegenseitigem Nachfragen und dadurch von Verzögerungen in der laufenden Buchführung geprägt war, wird neu durchgängig digitalisiert und zu weiten Teilen automatisiert. Dank der Verbindung zweier bestehender Pionierlösungen: PEAX und accounto.
Während PEAX den digitalen Briefkasten bereitstellt, in den über einen Multi ChannelEingang sowohl die physische wie auch digitale Post eingeht und professionell aufbereitet wird, bietet accounto die anschliessende automatisierte Verbuchung, die auf intelligenten, individuell konfigurierbaren Regelwerken basiert. Durch Daten, die aus den Belegen ausgelesen werden, werden die Buchungsworkflows automatisch angestossen – so dass rund 95% der Buchungen automatisiert und ohne manuelles Eingreifen erfolgen. Lediglich die wenigen verbleibenden Buchungen müssen aktiv kontrolliert und gegebenenfalls angepasst werden.
Pascal Ingold
Damit schaffen PEAX und accounto die Basis für eine vollständig digitale Buchhaltung. Pascal Ingold, Geschäftsführer des Treuhandunternehmens Fistra AG sowie PEAX- und accounto-Kunde:
„Sowohl PEAX als auch accounto sind an sich schon nützliche Tools, allerdings vervielfacht sich ihr Nutzen, wenn man die beiden Tools kombiniert. Denn die beste automatisierte Buchhaltung nützt mir nichts, wenn ich warten muss, bis die Unterlagen da sind. Die Unterlagen stets pünktlich zu erhalten, erspart uns aber die zeitraubende, manuelle Buchführung noch nicht. Dank PEAX sind heute alle Belege tagesaktuell verfügbar, und in accounto werden sie zum grössten Teil vollständig automatisiert verbucht. Das ist ein echter Game-Changer in Sachen Digitalisierung und Automatisierung.“
Nicht zuletzt legt der PEAX-accounto-Workflow den Grundstein für neue Geschäftsmodelle, die sowohl für die Kunden als auch die Treuhänder:innen attraktiv sind. Kurz gesagt: eine Win-Win-Situation für alle.
]]></description><link>https://fintechnews.eu/digitaler-briefkasten-und-automatisierte-buchhaltung-peax-und-accounto-vertiefen-die-zusammenarbeit</link><guid>3273</guid><author>Administrator</author><dc:content /><dc:text>Digitaler Briefkasten und automatisierte Buchhaltung: PEAX und accounto vertiefen die Zusammenarbeit</dc:text></item><item><title>Selma Raised 1.3 Million CHF From Community Crowdinvesting Campaign</title><description><![CDATA[Selma set a goal of 1 Million CHF/EUR at the beginning of the campaign. The plan was to keep the campaign running for 2 weeks and focus on their community.
“After one week it became clear that we would reach 1 Million even earlier and had additional requests by “not yet Selma clients”. The decision to free up more shares was made quickly – we opened the campaign to the public and managed to raise 30% more than originally planned.
Patrik Oliver Schär
Since the start we have built our company together with our customers – for our customers. Now, we want to make sure we stay close to our community while we aim to scale Selma into the No. 1 wealth management service in Switzerland.”
– Patrik Schär, CEO &amp; Co-Founder




   



    
   


   








Selma’s he biggest learning of the crowdinvesting campaign:“Our community is our biggest growth driver. In market environments like these, we didn’t know if the time for welcoming clients into the “inner circle” was right, but we wanted to try.Watching the % move up minute by minute on the day of our launch reminded us of our wonderful client base – and that there is trust and excitement to get involved in our community, independent of timing.”
Selma overfunded – what will happen with the extra cash?
Highly voted, big features on their roadmap are first on the list. Selma wants to use the cash from their community to build what their community is waiting for.
This means

Improving the advice Selma gives each and every one of you based on your situation, your cash, the markets, and more
Improving how you see transactions, performance details and details about your portfolio in the app
Looking into the right solutions for joint accounts, families and different reasons to invest your money

Selma aims to become the No.1 wealth management app in Switzerland – and that’s what they will focus on in the next months and years.

Source: The perks and benefits for crowdinvestors



]]></description><link>https://fintechnews.eu/selma-raised-13-million-chf-from-community-crowdinvesting-campaign</link><guid>3272</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Selma Raised 1.3 Million CHF From Community Crowdinvesting Campaign</dc:text></item><item><title>Generative AI Frenzy Pushes Nvidia Market Capitalization Past US$1T Mark</title><description><![CDATA[Nvidia reached a market capitalization of more than US$1 trillion early this month, becoming the ninth company in history and the world’s first chipmaker to cross that threshold, according to Bloomberg and the Guardian. The company joined fellow tech companies and household names like Apple, Microsoft, Google parent Alphabet and Amazon in the US$1 trillion club.
Shares of the American chipmaker started soaring on May 24 after the company reported its first-quarter earnings for its fiscal 2024 with a stronger-than-expected forecast. Nvidia said it expects sales of about US$11 billion, plus or minus 2%, in the second-quarter, more than 50% higher than investors’ estimates of US$7.15 billion, CNBC reported in May 2023.
Nvidia’s share rose over 25%, and market value climbed to US$940 billion by the end of the following day. Shares price increased by another 4.2% on May 30, bringing the company’s total capitalization to over US$1 trillion.




   



    
   


   








Overall, Nvidia has risen by more than 160% over the past year, fueled by the artificial intelligence (AI) frenzy.
Founded in 1993 and headquartered in California, Nvidia is a software and fabless company which designs graphics processing units (GPUs), application programming interface (APIs) for data science and high-performance computing, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
The company has led the revolution in computer graphics and videogame chips for about a quarter century, but its latest earnings shows momentum in its AI chips business as its technology is now at the center of the AI frenzy.
Nvidia’s data center group, which the company now calls “AI factories”, reported a record of US$4.28 billion in sales for the first quarter ended April 30, 2023, up 14% from a year ago and up 18% from the previous quarter.
The company said the increase was driven by demand for its GPU chips from cloud vendors and large Internet companies to train and deploy generative AI applications, a subfield of AI focused on developing algorithms and models that are capable of generating new text, images, or other media in response to prompts.
Nvidia’s chips provide the processing power needed to develop these new powerful AI applications. AI research laboratory and company OpenAI released ChatGPT in November 2022 with a brain composed of more than 20,000 Nvidia graphics processors, according to Bloomberg.
The company’s AI chips are also critical component of the cloud infrastructure that Alphabet, Amazon and Microsoft use. These services rent out their AI computing power to smaller companies and groups that cannot afford to build their own AI systems from scratch.
Last year, data-center operators collectively spending US$15 billion on bulk orders with Nvidia.
“You’re going to see tons and tons of ChatGPT-like things,” Huang said in an May 2023 interview. “This is basically a rebirth, a reinvention of computing as we know it.”
Huang had previously said that AI adoption was “at an inflection” with OpenAI’s ChatGPT “[capturing] interest worldwide.” He called the transformation an “iPhone moment” at a University of California, Berkeley, fireside chat on January 31, 2023.
Interest in AI has skyrocketed since the release of ChatGPT, an AI-powered chatbot that went viral for its ability to mimic human language and speaking styles, all the while providing coherent and topical information.
This has sparked a frenzy in the tech community and captured the attention of venture capital (VC) investors globally, ultimately benefiting Nvidia which produces 80% of the world’s GPUs, according to Reuters.
Although AI and ML funding declined last year, generative AI startup VC investment remained resilient in 2022, reaching a total of US$4.5 billion, according to Pitchbook data. This year, VCs increased their positions in the technology, with roughly US$1.7 billion being generated across 46 deals in Q1 2023 alone.
VC deals for generative AI, Source: Pitchbook, April 2023
Nvidia has pivoted to the AI market in the past few years after decades of leading the videogame chips market.
“We had the good wisdom to go put the whole company behind it,” Nvidia founder and CEO Jensen Huang told CNBC in an interview in February 2023.
“We saw early on, about a decade or so ago, that this way of doing software could change everything. And we changed the company from the bottom all the way to the top and sideways. Every chip that we made was focused on AI.”
Despite Nvidia’s lofty valuation, analysts believe the company’s AI chips business still has room for growth as generative AI technology remains at a nascent stage with wide adoption expected in the years to come.
McKinsey and Company estimates that adoption of generative AI could translate to the addition of up to US$4.4 trillion per year in value to the global economy. Generative AI also has the potential to substantially increase labor productivity across the economy, generating an estimate total economic benefit in labor productivity of up to US$7.9 trillion annually, the consultancy predicts.
This article first appeared on fintechnews.ch

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/generative-ai-frenzy-pushes-nvidia-market-capitalization-past-us1t-mark</link><guid>3270</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Generative AI Frenzy Pushes Nvidia Market Capitalization Past US$1T Mark</dc:text></item><item><title>Europe’s ‘Neo-Banks’ Open New Opportunities for the Distribution of Creditor Insurance</title><description><![CDATA[A multitude of ‘neo-banks’ have been formed in recent years, offering a range of banking services through digital channels and especially mobile banking apps. Despite the rapid proliferation and growth of these organisations, however, Finaccord’s research into European bancassurance has found that they remain a largely untapped channel for insurance distribution – and one that deserves insurers’ close attention.

Finaccord’s recent study of 379 banks and lending institutions in Europe included 31 neo-banks, applying two key criteria:




   



    
   


   









they must be primarily digital, and are in most cases mobile-led;
they must be new, or at least have come to prominence recently. For example, Orange Bank was excluded from this list because of its age – while it was one of the original mobile banks, it cannot be described as new anymore.

On the other hand, they don’t have to be full-service banks, and a number of them offer a more limited range of services chiefly focused on payments.
Finaccord researched 50 country-specific operations of these institutions across 15 European countries. While most are active in only one country, a few are active in many places, notably N26 and Revolut. These two also have the most customers, with estimated 7.5 million and 10 million customers for the operations that were researched, respectively.

Other leading neo-banks in this study are MyInvestor and Starling Bank (3 million customers in Spain and the UK respectively), Atom, Lunar and Lydia (each with about 2 million customers in the UK, Scandinavia and France respectively), plus FinecoBank and Hype (with about 1.5 million customers each, both in Italy). There are an estimated 38 million customers in total for the 50 banking operations included in this study.
Key findings include:

Neo-banks currently have many fewer bancassurance partnerships than more established banks, in part because they are so new that such partnerships have not been a priority while they have been building up their core technology, banking products and customer base.
For example, only 8% of these neo-banks offered home insurance compared to 39% of Finaccord’s total survey, though the difference was less for travel insurance (14% compared to 25%), in keeping with the appeal that neo-banks have to consumers who are often internationally mobile.
In keeping with this channel’s under-developed nature, only two of the partnerships held by neo-banks are run by a captive underwriter, compared to nearly a quarter of all bancassurance partnerships in place with banks and other lenders, making neo-banks potentially more open to working with external insurers.
The opportunity that stands out is for creditor insurance. If a customer takes out a credit card, consumer finance or mortgage from a neo-bank, then their relationship for creditor insurance is just as strong as it is for conventional banks – this is about a direct up-sell, not just using a bank’s customer base and brand to get unrelated sales. Yet only 21% of neo-banks that sell consumer finance offered creditor insurance with it, compared to 67% across all of the banks and lenders that were studied.
The difference was even greater for credit cards and mortgages: just 6% of neo-banks that sell credit cards and none of those selling mortgages offered creditor insurance with these products, compared to 25% and 67% for all banks and lenders, respectively.

Featured image credit: Edited from freepik.


]]></description><link>https://fintechnews.eu/europes-neo-banks-open-new-opportunities-for-the-distribution-of-creditor-insurance</link><guid>3269</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Finaccords-research-shows-life-premiums-in-country-A-declined-significantly-in-2020.png?x30842</dc:content ><dc:text>Europe’s ‘Neo-Banks’ Open New Opportunities for the Distribution of Creditor Insurance</dc:text></item><item><title>Europe’s Neo-Banks Remain an Untapped Channel for Insurance Distribution</title><description><![CDATA[A multitude of ‘neo-banks’ have been formed in recent years, offering a range of banking services through digital channels and especially mobile banking apps. Despite the rapid proliferation and growth of these organisations, however, Finaccord’s research into European bancassurance has found that they remain a largely untapped channel for insurance distribution – and one that deserves insurers’ close attention.

Finaccord’s recent study of 379 banks and lending institutions in Europe included 31 neo-banks, applying two key criteria:




   



    
   


   









they must be primarily digital, and are in most cases mobile-led;
they must be new, or at least have come to prominence recently. For example, Orange Bank was excluded from this list because of its age – while it was one of the original mobile banks, it cannot be described as new anymore.

On the other hand, they don’t have to be full-service banks, and a number of them offer a more limited range of services chiefly focused on payments.
Finaccord researched 50 country-specific operations of these institutions across 15 European countries. While most are active in only one country, a few are active in many places, notably N26 and Revolut. These two also have the most customers, with estimated 7.5 million and 10 million customers for the operations that were researched, respectively.

Other leading neo-banks in this study are MyInvestor and Starling Bank (3 million customers in Spain and the UK respectively), Atom, Lunar and Lydia (each with about 2 million customers in the UK, Scandinavia and France respectively), plus FinecoBank and Hype (with about 1.5 million customers each, both in Italy). There are an estimated 38 million customers in total for the 50 banking operations included in this study.
Key findings include:

Neo-banks currently have many fewer bancassurance partnerships than more established banks, in part because they are so new that such partnerships have not been a priority while they have been building up their core technology, banking products and customer base.
For example, only 8% of these neo-banks offered home insurance compared to 39% of Finaccord’s total survey, though the difference was less for travel insurance (14% compared to 25%), in keeping with the appeal that neo-banks have to consumers who are often internationally mobile.
In keeping with this channel’s under-developed nature, only two of the partnerships held by neo-banks are run by a captive underwriter, compared to nearly a quarter of all bancassurance partnerships in place with banks and other lenders, making neo-banks potentially more open to working with external insurers.
The opportunity that stands out is for creditor insurance. If a customer takes out a credit card, consumer finance or mortgage from a neo-bank, then their relationship for creditor insurance is just as strong as it is for conventional banks – this is about a direct up-sell, not just using a bank’s customer base and brand to get unrelated sales. Yet only 21% of neo-banks that sell consumer finance offered creditor insurance with it, compared to 67% across all of the banks and lenders that were studied.
The difference was even greater for credit cards and mortgages: just 6% of neo-banks that sell credit cards and none of those selling mortgages offered creditor insurance with these products, compared to 25% and 67% for all banks and lenders, respectively.

Featured image credit: Edited from freepik.


]]></description><link>https://fintechnews.eu/europes-neo-banks-remain-an-untapped-channel-for-insurance-distribution</link><guid>3271</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Finaccords-research-shows-life-premiums-in-country-A-declined-significantly-in-2020.png?x30842</dc:content ><dc:text>Europe’s Neo-Banks Remain an Untapped Channel for Insurance Distribution</dc:text></item><item><title>Finanz-App Yuh startet mit Säule 3a Konkurrenz</title><description><![CDATA[Yuh, die junge Schweizer Finanz-App erweitert ihr Angebot um eine digitale Säule 3a und geht damit mit den Platformen von Frankly, Viac und Co in direkte Konkurrenz.
In den nächsten Monaten erweitert Yuh das Angebot erneut, diesmal um eine eigene Säule 3a. Descartes, das FINMA-bewilligte Wealth-Tech aus Zürich, stellt dafür zusammen mit Lienhardt &amp; Partner Privatbank Zürich die technologische Plattform bereit. 
Für Descartes ist die strategische Partnerschaft mit Yuh ein bedeutsamer Erfolg in der Unternehmensgeschichte: Die Finanz-App bietet eigene innovative Anlageangebote speziell für junge, technologieaffine Nutzer:innen. Über die modulare, servicebasierte Technologie von Descartes erhält Yuh einfach und effizient Zugang zu den Vorsorgeplattformen der Lienhardt &amp; Partner Privatbank Zürich und der Vorsorgestiftung simply3a. Zusätzlich setzt Descartes als unabhängiges und FINMA-bewilligtes Institut die Asset Allocation der Musterportfolios mit Swisscanto Indexfonds der Zürcher Kantonalbank um.




   



    
   


   








Die Angebote von Yuh zur Säule 3a werden innerhalb der kommenden Monate in der App verfügbar sein.
Neben Yuh nutzen heute schon mehrere Schweizer Regionalbanken und Vermögensverwalter das Software-as-a-Service-Angebot von Descartes. Dadurch können sich diese Finanzinstitute auf ihre Kernkompetenzen konzentrieren, anstatt eigene Plattformen zu entwickeln.
Markus Schwab, CEO von Yuh, sagt:
Markus Schwab
«Descartes hat uns mit ihrer technologischen und fachlichen Kompetenz überzeugt. Die unternehmerische Unabhängigkeit und eine ausgewiesen sichere, zuverlässige und komfortable Technologie passen zu den Bedürfnissen und Werten von Yuh. Wir freuen uns auf die gemeinsame Zusammenarbeit.»
Adriano Lucatelli, Mitgründer und CEO von Descartes, sagt:
Adriano Lucatelli
«Dieses erfolgreiche Embedded-Finance-Projekt zeigt, dass unsere proprietäre Technologie die Marktprüfung bestanden hat. Mit Yuh als strategischem Partner gehören wir nun zu den führenden SaaS-Anbietern im Vorsorgebereich.»


Featured image credit &amp; edited from yuh.

]]></description><link>https://fintechnews.eu/finanz-app-yuh-startet-mit-saule-3a-konkurrenz</link><guid>3268</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Finanz-App Yuh startet mit Säule 3a Konkurrenz</dc:text></item><item><title>Thomson Reuters Acquires AI Legaltech Casetext for $650 Million in Cash</title><description><![CDATA[Thomson Reuters announced it has signed a definitive agreement to acquire Casetext, a California-based provider of technology for legal professionals, for $650 million cash.
The proposed transaction will complement Thomson Reuters existing AI roadmap and builds on its recent initiatives, including a commitment to invest more than $100 million annually on AI capabilities, the development of new generative AI experiences across its product suite, as well as a new plugin with Microsoft and Microsoft 365 Copilot for legal professionals.
Founded in 2013, Casetext uses advanced AI and machine learning to build technology for legal professionals, creating solutions that help them work more efficiently and provide higher-quality representation to more clients. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments.




   



    
   


   








Casetext was granted early access to OpenAI’s GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professionals. Its key products include CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes.
Steve Hasker
“The acquisition of Casetext is another step in our ‘build, partner and buy’ strategy to bring generative AI solutions to our customers. We believe that Casetext will accelerate and expand our market potential for these offerings – revolutionizing the way professionals work, and the work they do.”
said Steve Hasker, president and CEO of Thomson Reuters.

Jake Heller
“For the last ten years, we have harnessed the power of AI to build products that elevate the practice of law and enable attorneys to serve more people’s legal needs, with the ultimate goal of increasing access to justice. Joining Thomson Reuters is an incredible opportunity to advance our mission and the field of generative AI solutions exponentially, not only for lawyers but across professions, ensuring this revolutionary technology can benefit as many people as possible.”
said Jake Heller, CEO of Casetext.
Closing of the transaction is subject to specified regulatory approvals and customary closing conditions and is anticipated to occur in the second half of 2023.
Featured image credit: Edited from freepik.

]]></description><link>https://fintechnews.eu/thomson-reuters-acquires-ai-legaltech-casetext-for-650-million-in-cash</link><guid>3265</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Thomson Reuters Acquires AI Legaltech Casetext for $650 Million in Cash</dc:text></item><item><title>The 3 Finance and Insurance Vertical Winner of the &gt;&gt;venture&gt;&gt; Switzerland Competition 2023</title><description><![CDATA[Venture, Switzerland’s leading early-stage startup competition, held its highly anticipated Award Ceremony on June 26, 2023, at the Swiss Tech Convention Center located at EPFL.
The event marked a significant milestone for &gt;&gt;venture&gt;&gt; as it expanded its impact by introducing the Non-Profit Organization (NPO) track. The ceremony unveiled the winners of various awards, including the Grand Prize, the inaugural NPO Track winner, and the recipients of the Audience Award presented by RTS.
The startup Biosimo emerged as the winner of the Grand Prize, solidifying its position as Switzerland’s most promising early-stage startup. Their exceptional achievements in advancing the transition to a fossil-free chemical industry through low-cost bio-based chemicals propelled them to win this prestigious title. As the Grand Prize winner, Biosimo was honored with CHF 150,000 in non-dilutive funds and a McKinsey &amp; Company business consulting package.
For the first time in its 25-year history, &gt;&gt;venture&gt;&gt; proudly announced the champion of its inaugural NPO Track. Openversum, with their innovative approach to provide safe drinking water to underserved communities, emerged as the winner among the nonprofit organizations. Their dedication to training local entrepreneurs in Colombia and Ecuador to provide safe drinking water through the manufacturing and distribution of household-level filters resonated with the jurors, earning them the coveted 1st place rank. In recognition of their outstanding work, Openversum received CHF 50,000 in non-dilutive funding to help jumpstart their nonprofit journeys.
Ulrich Jakob Looser
Ulrich Jakob Looser, Chairman of the &gt;&gt;venture&gt;&gt; foundation, expressed his satisfaction with the competition’s evolution, stating,
“&gt;&gt;venture&gt;&gt;’s expansion with the NPO track reflects our commitment to fostering innovative solutions. By providing a platform for profit-driven and social impact-driven ventures, we help create an environment conducive to driving economic growth and positive change.”
Additionally, the &gt;&gt;venture&gt;&gt; Audience Award presented by RTS, recognized the startups that captured the hearts and votes of the Swiss audience. Among the 5 competing Business Track startups, Zizania won first place. The spinoff from Zollinger Bio upcycles plant materials to make natural and organic cosmetic products that are good for you and the planet. Within the NPO Track, GirlsCodeToo was selected as the winner by the audience. Both startups showcased their strong appeal and alignment with the values of the community. They were rewarded with CHF 10,000, and CHF 2,000, respectively.
This year, &gt;&gt;venture&gt;&gt; received an overwhelming response with 336 applications, reflecting the vibrant and dynamic startup ecosystem in Switzerland. The competition returned to Western Switzerland after five years, emphasizing the region’s significance as an innovation hub. Out of the 18 winners announced, 8 startups hail from Western Switzerland, specifically cantons Vaud, Geneva, and Jura.
The Award Ceremony celebrated the top three winners from the NPO Track as well as each industry vertical within the Business track, including Health &amp; Nutrition, ICT, Industrial Engineering &amp; Hardware, Retail &amp; Customer Services, and Finance &amp; Insurance. The respective winners were bestowed with nondilutive cash prizes of CHF 50,000, CHF 20,000, and CHF 10,000 for achieving the 1st, 2nd, and 3rd positions, respectively. In addition to cash prizes, all first-place teams in their industry vertical were awarded a business consulting package from McKinsey &amp; Company.
The following is the ranking of the Finance &amp; Insurance winners:
FINANCE &amp; INSURANCE
1st place: Frigg (Zug, ZG)


Streamlining sustainable finance processes for small to mid-sized renewable energy developers, reducing manual efforts and costs.
2nd place: Grape Health (Zurich, ZH)

Providing fully digital employee insurance that prioritizes physical and mental well-being, investing in preventive services for healthier teams.
3rd place: Ascentys (Courroux, JU)

Automation of ESG assessment and reporting for companies, simplifying the process and enabling actionable reports.

The success of these remarkable winners, both in the Business and NPO Tracks, exemplifies the entrepreneurial spirit and dedication to innovation that drives the &gt;&gt;venture&gt;&gt; competition. The evening’s celebrations provided a glimpse into the future of the Swiss startup ecosystem, where groundbreaking ideas and visionary leadership converge to shape a brighter tomorrow.
]]></description><link>https://fintechnews.eu/the-3-finance-and-insurance-vertical-winner-of-the-venture-switzerland-competition-2023</link><guid>3266</guid><author>Administrator</author><dc:content /><dc:text>The 3 Finance and Insurance Vertical Winner of the &gt;&gt;venture&gt;&gt; Switzerland Competition 2023</dc:text></item><item><title>The 3 Finance and Insurance Vertical Winners of the &gt;&gt;venture&gt;&gt; Switzerland Competition 2023</title><description><![CDATA[Venture, Switzerland’s leading early-stage startup competition, held its highly anticipated Award Ceremony on June 26, 2023, at the Swiss Tech Convention Center located at EPFL.
The event marked a significant milestone for &gt;&gt;venture&gt;&gt; as it expanded its impact by introducing the Non-Profit Organization (NPO) track. The ceremony unveiled the winners of various awards, including the Grand Prize, the inaugural NPO Track winner, and the recipients of the Audience Award presented by RTS.
The startup Biosimo emerged as the winner of the Grand Prize, solidifying its position as Switzerland’s most promising early-stage startup. Their exceptional achievements in advancing the transition to a fossil-free chemical industry through low-cost bio-based chemicals propelled them to win this prestigious title. As the Grand Prize winner, Biosimo was honored with CHF 150,000 in non-dilutive funds and a McKinsey &amp; Company business consulting package.
For the first time in its 25-year history, &gt;&gt;venture&gt;&gt; proudly announced the champion of its inaugural NPO Track. Openversum, with their innovative approach to provide safe drinking water to underserved communities, emerged as the winner among the nonprofit organizations. Their dedication to training local entrepreneurs in Colombia and Ecuador to provide safe drinking water through the manufacturing and distribution of household-level filters resonated with the jurors, earning them the coveted 1st place rank. In recognition of their outstanding work, Openversum received CHF 50,000 in non-dilutive funding to help jumpstart their nonprofit journeys.
Ulrich Jakob Looser
Ulrich Jakob Looser, Chairman of the &gt;&gt;venture&gt;&gt; foundation, expressed his satisfaction with the competition’s evolution, stating,
“&gt;&gt;venture&gt;&gt;’s expansion with the NPO track reflects our commitment to fostering innovative solutions. By providing a platform for profit-driven and social impact-driven ventures, we help create an environment conducive to driving economic growth and positive change.”
Additionally, the &gt;&gt;venture&gt;&gt; Audience Award presented by RTS, recognized the startups that captured the hearts and votes of the Swiss audience. Among the 5 competing Business Track startups, Zizania won first place. The spinoff from Zollinger Bio upcycles plant materials to make natural and organic cosmetic products that are good for you and the planet. Within the NPO Track, GirlsCodeToo was selected as the winner by the audience. Both startups showcased their strong appeal and alignment with the values of the community. They were rewarded with CHF 10,000, and CHF 2,000, respectively.
This year, &gt;&gt;venture&gt;&gt; received an overwhelming response with 336 applications, reflecting the vibrant and dynamic startup ecosystem in Switzerland. The competition returned to Western Switzerland after five years, emphasizing the region’s significance as an innovation hub. Out of the 18 winners announced, 8 startups hail from Western Switzerland, specifically cantons Vaud, Geneva, and Jura.
The Award Ceremony celebrated the top three winners from the NPO Track as well as each industry vertical within the Business track, including Health &amp; Nutrition, ICT, Industrial Engineering &amp; Hardware, Retail &amp; Customer Services, and Finance &amp; Insurance. The respective winners were bestowed with nondilutive cash prizes of CHF 50,000, CHF 20,000, and CHF 10,000 for achieving the 1st, 2nd, and 3rd positions, respectively. In addition to cash prizes, all first-place teams in their industry vertical were awarded a business consulting package from McKinsey &amp; Company.
The following is the ranking of the Finance &amp; Insurance winners:
FINANCE &amp; INSURANCE
1st place: Frigg (Zug, ZG)


Streamlining sustainable finance processes for small to mid-sized renewable energy developers, reducing manual efforts and costs.
2nd place: Grape Health (Zurich, ZH)

Providing fully digital employee insurance that prioritizes physical and mental well-being, investing in preventive services for healthier teams.
3rd place: Ascentys (Courroux, JU)

Automation of ESG assessment and reporting for companies, simplifying the process and enabling actionable reports.

The success of these remarkable winners, both in the Business and NPO Tracks, exemplifies the entrepreneurial spirit and dedication to innovation that drives the &gt;&gt;venture&gt;&gt; competition. The evening’s celebrations provided a glimpse into the future of the Swiss startup ecosystem, where groundbreaking ideas and visionary leadership converge to shape a brighter tomorrow.
]]></description><link>https://fintechnews.eu/the-3-finance-and-insurance-vertical-winners-of-the-venture-switzerland-competition-2023</link><guid>3267</guid><author>Administrator</author><dc:content /><dc:text>The 3 Finance and Insurance Vertical Winners of the &gt;&gt;venture&gt;&gt; Switzerland Competition 2023</dc:text></item><item><title>SAP Fioneer Rolls Out Customisable SME Banking Solution</title><description><![CDATA[SAP Fioneer, a global provider of financial services software solutions and platforms, has announced the launch of its tailored small and medium-sized enterprise (SME) banking offering.
As a unique end-to-end solution, the Fioneer SME Banking Edition covers front-to-back capabilities and seamlessly integrates with any core banking system. It enables banks to offer services that go beyond traditional banking products such as loans and deposits.
Banks will be able to broaden their offering with embedded services and stronger financial advice directly for SMEs. The solution can also be easily integrated and connect to ecosystems via pre-configured APIs.




   



    
   


   








The solution connects banks to external data sources such as Open Banking, central company registry, e-commerce and Enterprise Resource Planning (ERP) data, to form actionable insights that significantly help SMEs to stay ahead.
This will give SMEs clear transparency about cashflow and provide insight to the banks and enable e.g. smart funding options, offering more variety and increasing the number of businesses banks can serve.
Charlie Platt
Charlie Platt, Managing Director of Banking at SAP Fioneer said,
“SMEs represent the lifeblood of the economy, and it is critical that they are able to access the financial services they deserve.

Through our SME Banking Edition, banks will be able to create commercially viable, unique and better banking experiences for SMEs that will help them to stay ahead in a challenging economic environment.”
Dirk Kruse
Dirk Kruse, CEO of SAP Fioneer said,
“The introduction of our Fioneer SME Banking Edition significantly strengthens how banks interact with SMEs. Utilizing our proven technology, we’re facilitating banks to better serve SMEs in a dynamic economic landscape.

Drawing inspiration from the B2C market, we’re empowering banks to elevate their service offerings for SMEs.”

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/sap-fioneer-rolls-out-customisable-sme-banking-solution</link><guid>3264</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>SAP Fioneer Rolls Out Customisable SME Banking Solution</dc:text></item><item><title>Bitcoin Crosses US$30K Mark Following Slew of Spot ETF Announcements</title><description><![CDATA[The price of bitcoin crossed the US$30,000 mark last week, driven by investors’ excitement about the prospects of high-profile investment firms jumping deeper into digital assets by launching spot crypto exchange-traded funds (ETFs).
Bitcoin, the world’s largest cryptocurrency by market capitalization, rose 15% following news that big name issuers were looking to launch spot bitcoin ETFs. Bitcoin surpassed the US$31,000/BTC mark on June 23, 2023, its highest level over the past 18 months. The crypto has surged by more than 80% since the beginning of the year.
image via Unsplash
The frenzy was fueled by the news that BlackRock, the world’s largest asset manager with roughly US$9 trillion, filed on June 15 for a spot bitcoin ETF. The iShared Bitcoin Trust would track the cryptocurrency’s underlying market price, allowing investors to get exposure to the crypto. The ETF would use Coinbase Custody as its custodian, the filing with the US Securities and Exchange Commission (SEC) shows. BlackRock currently has an existing strategic partnership with Coinbase.




   



    
   


   








The BlackRock filing has led to a flurry of similar applications from rival investment firms. On June 20, fund companies Invesco and WisdomTree refiled applications with the SEC to launch the Invesco Galaxy Bitcoin ETF and the WisdomTree Bitcoin Trust, respectively. Days earlier, Bitwise submitted plans for a similar vehicle.
US investors currently have access to bitcoin futures ETFs solely. These instruments invest in bitcoin futures contracts, or agreements to purchase or sell bitcoin at a certain price on a specified date. A spot bitcoin ETF would allow investors to invest in the token directly, and provide easier access to the asset through traditional brokerage accounts.
Industry experts and observers believe that the BlackRock filing could be a sign that the US SEC might finally approve physically-backed bitcoin ETFs. These investment products have repeatedly been rejected by the regulator over concerns relating to fraud and manipulation in the spot market for bitcoin.
“When the world’s largest asset manager makes a move like this, other issuers are going to take notice because the stakes are so high in the Bitcoin ETF race,” Nate Geraci, president of advisory firm The ETF Store, told Bloomberg on June 21.
“There has been absolutely no indication that the SEC is ready to entertain a spot Bitcoin ETF. The likely assumption is that BlackRock may know something.”
According to Bloomberg Intelligence, about 30 attempts have been made so far to introduce a spot bitcoin ETF. WisdomTree has made two previous attempts to secure approval for such a product but both applications were rejected by the SEC in December 2021 and October 2022, respectively.
Invesco initially partnered up with Mike Novogratz’s Galaxy Digital to file for the Invesco Galaxy Bitcoin ETF in September 2021. The firm is now looking to reintroduce the instrument.
The US SEC has also rejected proposals for spot bitcoin ETFs from firms including Fidelity, Cboe Global Markets and NYDIG, Reuters reported earlier this month. The watchdog is currently being sued by Grayscale Investment over its refusal to allow the conversion of its flagship spot Grayscale Bitcoin Trust into an ETF. The US SEC argued that the proposal did not meet anti-fraud and investor protection standards, according to a March 2023 report by Reuters.
A challenging year for the crypto industry
The crypto sector has been undergoing a period of hardship. The market is still reeling from the scandal of FTX’s collapse, the sector is facing increased regulatory pressure, and prominent exchanges are being slammed by high-profile lawsuits.
Earlier this month, the US SEC sued both Coinbase and the world’s largest crypto exchange, Binance. The watchdog is alleging that Binance violated a variety of securities laws by operating exchanges, broker-dealers, and clearing agencies without the proper licenses. It also claims that Binance allowed for commingling of customer funds, that its founder, Changpeng Zhao, was running the business through a “web of deception,” “secretly” controlling Binance.US, and that a Zhao-owned and operated entity was inflating Binance.US’s trading volume.
The lawsuit against Coinbase, meanwhile, alleges that the crypto exchange has, since at least 2019, made billions of dollars by operating as a middleman on crypto transactions, while evading disclosure requirements meant to protect investors. It also claims that Coinbase traded at least 13 crypto assets that are securities that should have been registered, including Solana, Cardano and Polygon.
The US SEC also filed lawsuits against crypto lender Genesis as well as exchange platforms Gemini and Kraken earlier this year for breaking securities laws. Kraken eventually settled with the regulator, agreeing to pay a US$30 million fine and shutter its US crypto staking operation.
Increased regulatory scrutiny in the crypto space follows a series of massive company collapses and scandals.
In May, the fall of the Terra stablecoin project and its associated Luna reserve asset cryptocurrency triggered a domino effect on the whole crypto market, ultimately contributing to insolvency troubles at both crypto lender Celsius and hedge fund Three Arrows Capital.
In November, FTX, once one of the world’s largest crypto exchanges, filed for bankruptcy protection after a dramatic series of events led to a run on deposits and a selloff of FTT, its in-house crypto token. Gross negligence has since been exposed.
After reaching all-time high levels in 2021, the crypto market has undergone a prolonged “crypto winter.” Total market capitalization was cut in half in 2022, starting the year off at US$2.2 trillion to hit an annual low of US$1 trillion in November, according to The Block.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/bitcoin-crosses-us30k-mark-following-slew-of-spot-etf-announcements</link><guid>3263</guid><author>Administrator</author><dc:content >https://fintechnews.am/wp-content/uploads/2023/06/bitcon-article-1024x768.jpg</dc:content ><dc:text>Bitcoin Crosses US$30K Mark Following Slew of Spot ETF Announcements</dc:text></item><item><title>Mastercard Accelerates Go-To-Market Opportunities for Blockchain Innovation</title><description><![CDATA[Expanded Mastercard Engage partner network will help scale digital assets and blockchain technology, and meet continued ecosystem demand
As Mastercard’s continues to embrace new and emerging payments technology such as crypto, Mastercard is introducing a new track as part of its global Engage partner network to allow businesses to quickly launch and scale products that power the Web3 economy.
Mastercard Engage makes it simple for partners to collaborate with Mastercard and accelerate time to market for product innovation through access to the company’s global network, expertise, technology, and resources. Last year alone, more than 150 Engage partners helped their customers deploy innovative solutions on more than 500 million accounts using Mastercard products and services.




   



    
   


   








The expanded Engage partner network focused on digital assets will help identify partners that can help bring new crypto card programs to market, in addition to allowing for crypto to fiat conversion capabilities. This, in turn, will broaden access to and for the many different players across the crypto value chain. Mastercard Engage benefits can be broken down into two key areas:

Become a partner: For issuers or BIN sponsors looking to launch new crypto card programs, and payment ecosystem enablers looking to scale crypto payments solutions with BIN sponsors, Virtual Asset Service Providers (VASPs), processors and more
Find a partner: For companies or digital asset innovators looking for the right partners to launch and scale their offerings

Raj Dhamodharan
“Mastercard is committed to co-innovating across the industry to enable access to crypto and blockchain technology. This not only unlocks potential, but also provides greater choice in payments and commerce. The expanded Mastercard Engage network will help empower players across the digital asset ecosystem and beyond to fulfill their ambitions at scale, paired with the safety and security that comes with the Mastercard brand.”
said Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard.
The following enablement partners are joining Mastercard Engage to propel blockchain innovation:

Baanx (EU)
 Offers a range of services to store and spend cryptocurrencies seamlessly across more than 100 million acceptance locations globally

Credencial Payments (LAC)

Integrates payment methods with digital onboarding functionalities, focused on providing solutions for merchants and consumers

Episode Six (AP, EU, NAM)
Provides enterprise-grade payment processing and digital ledger infrastructure globally

Immersve (AP)

Supports both centralized and decentralized payment experiences through an issuing-as-a-service platform

Monavate (EU)

Improves the way the world makes payments through its smarter, faster, simpler card management platform

Moorwand (EU)
Offers BIN sponsorship, digital banking and compliance services for banks, fintechs and payment companies across the UK and EEA

PayCaddy (LAC)

Enables tech and non-tech companies in Latin America to launch digital banking and card products quickly and efficiently

Paymentology (AP, LAC, MEA)

Enables banks, digital banks and fintechs to rapidly issue and process cards, anywhere in the world, at scale

Pomelo (LAC)

Enables companies to launch and scale their fintech business within weeks in Latin America

Swap (LAC)
Offers a comprehensive financial solution – from regulatory support and banking services to card issuing and embossing – for fintechs, financial institutions and digital banks

Unlimit (EU)



Offers a large portfolio of financial services, including payment processing, banking as a service (BaaS), and an on-ramp fiat solution for crypto, DeFi and GameFi 



*Latin America and Caribbean (LAC)*Europe (EU)*Asia Pacific (AP)*Middle East and Africa(MEA)*North America (NAM)


Featured image credit: Edited from freepik.

]]></description><link>https://fintechnews.eu/mastercard-accelerates-go-to-market-opportunities-for-blockchain-innovation</link><guid>3261</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Mastercard Accelerates Go-To-Market Opportunities for Blockchain Innovation</dc:text></item><item><title>Backbase Taps Entrust to Enable Customers to Integrate With Google Pay, Apple Pay</title><description><![CDATA[Digital banking software provider Backbase has tied up with Entrust, an American digital security and credential issuance solutions provider, to enable its end customers to securely add their payment cards to third-party wallets like Apple Pay or Google Pay.
The “add card to wallet” capability simplifies provisioning and activating cards for digital wallets with a push of a button.
Authentication takes place within the banking app, where the customer is already verified, eliminating the need for additional authentication steps required by third-party wallets and merchants.




   



    
   


   








Backbase’s end customers will be able to self-manage their cards, reducing the dependence on the branch and helpdesk, and thereby customer service costs.
Later this year, the partnership will launch additional new card features, e.g. the secure display of sensitive card information like the card number, expiry date, or cryptogram in the bank app and the ability to view and change the PIN in the banking app.
Roland-Booijen
“Backbase is laser-focused on reducing our customers’ time-to-market and time-to-value. Entrust’s deep sector expertise in digital card solutions and global presence means we can offer our customers and prospects the innovative banking experiences their customers have come to expect.”
said Roland Booijen, Backbase’s General Manager for Ecosystems.
Anthony Ball
“With our digital card expertise, connections to multiple processors, and the pre-integration of the Entrust Digital Card Solution within the Backbase platform, issuers can benefit from an even more simplified integration, delivering accelerated time to market. This brings more control and payment options to cardholders, while helping to drive increased card usage for banks.”
said Tony Ball, Senior Vice President and General Manager, Instant Issuance at Entrust.


Featured image credit: Edited from freepik.
]]></description><link>https://fintechnews.eu/backbase-taps-entrust-to-enable-customers-to-integrate-with-google-pay-apple-pay</link><guid>3262</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Backbase Taps Entrust to Enable Customers to Integrate With Google Pay, Apple Pay</dc:text></item><item><title>Crypto.com Gets Regulatory Nod to Offer Services in Spain</title><description><![CDATA[Digital asset exchange platform Crypto.com announced that it has secured the virtual asset service provider (VASP) registration from the Bank of Spain. With this registration, Crypto.com may offer a suite of its products and services to users in Spain.
Crypto.com secured this registration following a comprehensive review of its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws, as well as measures to safeguard users.
The exchange has obtained regulatory approval in Singapore, France, the United Kingdom, Dubai, South Korea, Australia, Italy, Greece, Cyprus, Cayman Islands, and Canada among others.




   



    
   


   








Kris Marszalek
“Receiving the VASP registration from the Bank of Spain is the latest testament to our commitment to compliance and eagerness to work with regulators and public officials in responsibly advancing crypto and blockchain technology.

We look forward to continuing to work with the Bank of Spain as we launch our products and services in-market and providing users with the comprehensive, safe and secure crypto experience that they desire,”
said Kris Marszalek, CEO of Crypto.com.

Featured image credit: Edited from unsplash.

]]></description><link>https://fintechnews.eu/cryptocom-gets-regulatory-nod-to-offer-services-in-spain</link><guid>3260</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Crypto.com Gets Regulatory Nod to Offer Services in Spain</dc:text></item><item><title>UK Real Time Payment Fintech Volt Closed $60M Series B Round, CommerzVenture Participates</title><description><![CDATA[Volt, a UK based infrastucutre-real-time payment company, announces that it has raised a $60 million Series B to fund expansion into new international markets such as APAC and the Americas – and support product development in existing markets across Europe, the UK and Brazil. Following London Tech Week, this investment from IVP, one of Silicon Valley’s leading investors, signals a vote of confidence in the UK’s fintech sector.
The investment round was led by IVP, a Silicon Valley-based firm that has a 40+ year track record backing companies like Coinbase, Slack and Supercell (note that complete investment by IVP is subject to regulatory approval in the countries in which Volt is regulated). New investor, CommerzVentures, is also participating in this Series B round along with existing funds, including EQT Ventures, Augmentum Fintech PLC and Fuel Ventures.
Volt, which is currently available across the UK, Europe and Brazil, plans to bring its pioneering real-time payments technology to APAC with an Australian market entry planned for later in 2023, and also has its sights set on the US market. In an effort to continue innovating for customers, the company plans to use this Series B investment to build out its network of acceptance and global reach, and to enhance its product suite to include cash management, while also significantly bolstering its product and engineering teams.




   



    
   


   








Tom Greenwood, CEO of Volt, comments:
Tom Greenwood
“Testament to our progress and our vision for real-time payments everywhere, we’re thrilled to be working with our new partners at IVP, joining their portfolio of leading global brands. We’re staying focused, and humble, as we embark on this next chapter.”
Founded in 2019, Volt has established itself as a leading global real-time payments provider, and is forging the path by bringing together new generation account-to-account (A2A) payments infrastructure to a single point of access. This investment builds on Volt’s momentum, with recent wins including a global partnership for real-time payments with the world’s largest merchant acquirer, Worldpay from FIS, and teaming up with Shopify to become the commerce platform’s first open banking provider.
Stefan Tirtey, Managing Partner at CommerzVentures, adds:
Stefan Tirtey
“We’re excited by Volt’s progress to date in its mission to deliver the first global real-time payment network. With its strong leadership team, technical expertise and commercial prowess, we believe it’s well positioned to deliver on the potential of A2A payments. We look forward to seeing what the future holds.”


Featured image credit: Tom Greenwood, CEO of Volt and Eric Liaw, General Partner at IVP.  Background image edited from Freepik.


]]></description><link>https://fintechnews.eu/uk-real-time-payment-fintech-volt-closed-60m-series-b-round-commerzventure-participates</link><guid>3259</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>UK Real Time Payment Fintech Volt Closed $60M Series B Round, CommerzVenture Participates</dc:text></item><item><title>FinFinder.ch sichert sich 200’000 CHF Angel Round Funding</title><description><![CDATA[FinFinder.ch ist einie unabhängige Matchmaking-Plattform für persönliche Finanzcoaches in der Schweiz. Das Unternehmen ist seit zwei Jahren aktiv und generiert täglich Kundenanfragen aus allen Altersgruppen und zu verschiedenen Finanzthemen wie Altersvorsorge, Geldanlage, Wohneigentum, Risikoabsicherung, Steuern und Nachlassplanung. Auf der schnell wachsenden Plattform sind bereits mehr als 200 Finanzcoaches registriert.
Im Rahmen der Weiterentwicklung hat sich FinFinder.ch eine Finanzierung in Höhe von CHF 200.000 gesichert. Die Finanzierungsrunde wurde von prominenten Angel-Investoren aus der Finanzbranche angeführt, die das enorme Potenzial der innovativen Matchmaking-Plattform von FinFinder.ch erkannten. Diese bedeutende Investition wird es dem Unternehmen ermöglichen, neue Teammitglieder einzustellen, seine Technologie weiterzuentwickeln, sein Benutzererlebnis zu verbessern und seine Marktreichweite zu erweitern.
Erste unabhängige Matchmaking-Plattform für Finanzcoaches
Andreas Schöni
Gegründet wurde das Fintech-Unternehmen von Andreas Schöni, der auf eine Karriere bei der UBS, der Zürcher Kantonalbank und der Schweizer Börse SIX zurückblickt und selbst als Finanzplaner arbeitet, und Ati Tosun, der zuletzt eine leitende Position bei der Zürcher Kantonalbank innehatte und seit acht Jahren als selbstständiger Unternehmer in der Entwicklung und Vermarktung von Online-Marktplätzen tätig ist.




   



    
   


   








Beraterbewertungen helfen bei der Suche
Auf der Website finfinder.ch können Experten in verschiedenen Finanzbereichen kostenlos und analog zu den aus der Reisebranche bekannten Suchplattformen gefunden werden. Als Nutzer bleibt man vorerst anonym und FinFinder.ch schlägt dem Nutzer unverbindlich neun Beraterprofile basierend auf den eigenen Suchkriterien vor, teilweise mit Videoporträts und Bewertungen.
Die registrierten Finanzcoaches sind entweder selbstständig oder bei einem Finanzunternehmen wie einer Bank, einer Versicherung oder einem Vermögensverwalter angestellt. Auf dem Portal sind neben den selbständigen Finanzcoaches auch Spezialisten namhafter Unternehmen wie Raiffeisen, Zürcher Kantonalbank und diverser weiterer Kantonalbanken, Swiss Life, Helvetia, Maerki Baumann &amp; Co., Generali und Globalance registriert. Während die private Nutzung kostenlos ist, zahlen die geprüften Finanzcoaches für die Registrierung auf der Plattform eine fixe Abonnementgebühr. Die Finanzcoaches erhalten Kundendaten nur dann, wenn der Nutzer diese ausdrücklich auswählt und per Klick entscheidet, dass er mit dem Finanzcoach in Kontakt treten möchte.
Kürzlich konnte das Portal auch den ehemaligen ZKB CEO Martin Scholl für den Beirat gewinnen.


Featured image credit: FinFinder.ch. Edited from FinFinder.ch.
]]></description><link>https://fintechnews.eu/finfinderch-sichert-sich-200000-chf-angel-round-funding</link><guid>3258</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>FinFinder.ch sichert sich 200’000 CHF Angel Round Funding</dc:text></item><item><title>Europe Lags Behind Asia and Latin America in Real-Time Payments Adoption</title><description><![CDATA[ACI Worldwide, a Realtime Payment Specialist, recently launched its ACI Instant Pay solution in Europe and the U.K., enabling merchants to accept online, mobile and in-store payments instantly via a simple API integration with ACI Payments Orchestration Platform.
Merchants are set to gain significantly from the adoption of instant payments through the elimination of interchange fees, instant settlement — which means instant liquidity — and the elimination of chargebacks.
Banks across Europe must comply with the proposed EC law, mandating banks and financial institutions across Single Euro Payments Area (SEPA) countries to offer instant payments under the SEPA Instant Credit Transfer scheme, at the same cost or lower than standard credit transfers. The new regulation is aimed at unlocking the benefits of instant payments for European economies. Increased participation, simplified access, commercially attractive pricing and new value-added services for consumers and businesses are some of the significant changes expected as a result of the Mandate.




   



    
   


   








The European commission sees instant payments as a path to unlock economic growth and drive financial inclusion across its member states. European banks must act now to comply with the EC Mandate. Instant payments will help to secure the competitiveness of banks, financial services providers and merchants. They remove payments friction, contribute to greater liquidity and ultimately improve the customer experience.
Prime-Time for Real-Time 2023 — Europe Lags Asia and Latin America in Real-Time Payments Adoption
ACI’s 2023 Prime Time for Real-Time report indicates that Europe’s economies are largely playing catch-up as widespread adoption drives global instant payments growth. According to the report, 195.0B instant payment transactions were recorded globally in 2022, a year-over-year growth of 63.2%.
Although considerable growth is expected across Europe — instant payment transactions in Europe are set to increase from 13.2B in 2022 to 34.2B by 2027, with a compound annual growth rate (CAGR) of 21% — most European countries lag the emerging economies in Asia and Latin America in instant payments adoption.
While India remains the undisputed instant payments leader — responsible for 46% of all transactions worldwide — followed by Brazil, China, Thailand and South Korea, not a single EU country is among the top 10 global instant payment markets. Of all regions surveyed, Europe has the third-lowest level of instant payments as a proportion of electronic payments (7%), but this is predicted to grow, with an expected CAGR of 21% by 2027.
However, the report also shows that Europeans are ready for change. Mobile wallets are increasingly popular, with 41% of consumers in Europe holding or using a mobile wallet in 2022, compared to 31% in 2021 and 12% in 2018. Four smaller European countries — Netherlands, Sweden, Finland and Denmark — feature in the global top 10 for consumer adoption of instant payments by 2027.
Craig Ramsey
“These figures should serve as a wake-up call for all stakeholders in the European payments ecosystem. It is clear that if the EU continues at its current pace, it will fall further behind other world economies. We hope the EC Mandate provides the impetus needed for instant payments modernization in the region, providing consumers, corporations, businesses and merchants access to faster, cheaper and all-around better payments.”
said Craig Ramsey, global head of real-time payments at ACI Worldwide.
Spotlight France — One of the Top Growth Markets in Europe

France recorded 202M instant payment transactions in 2022, expected to grow to 1.4B by 2027, a CAGR of 47.8%.
France adopted SCT Inst in 2018, implementing instant payments into its domestic network. SCT Inst was developed by the EPC with the aim to create an instant payments network within the eurozone — though so far, the development towards a truly pan-regional, instant payments network within the EU has been slow.
Instant payments only represented a 0.5% share of total payments volume in 2022.
The EC Instant Payments Mandate and the EU’s invoicing regulations are expected to galvanize the domestic market.

Spotlight Italy — Cash Is Still King, but Major Change Is on the Horizon

Italy recorded 364M instant payment transactions in 2022, expected to grow to 787M by 2027, a CAGR of 16.7%.
Italy is among the few nations that adopted the pan-European SCT Inst scheme at an early stage in November 2017. Despite the head start and wide participation from banks and payment service providers (287 participants as of November 2022), the growth in adoption and usage of instant payments has been slow due to high preference for cash and the higher fees initially requested by financial institutions.
In 2022, instant payments accounted for just a 1.4% share of total payments transaction volume, while paper-based transactions had a 71.5% share. Instant payments’ share is projected to rise to 8.2% by 2027, and further acceleration in adoption is expected once the EC Mandate takes effect.

Spotlight Germany — Instant Payments Are Starting To Gain Traction

Germany recorded 1.1B instant payment transactions in 2022, expected to grow to 2.7B by 2027, a CAGR of 18.9%.
Germany adopted the pan-European SCT Inst payments scheme in 2017, gaining access to the European instant payments scheme. Today, SCT Inst provides instant payment transfers not only among participating financial institutions in Germany, but also with any participating financial institution in any other country in the eurozone. As in all SCT Inst markets, the EC Mandate could kick-start a major change.
Despite this regional link, instant payments represent only a small part of total payments volume and spending in Germany. In 2022, instant payments were 2.5% of total payments volume, while other forms of electronic payments represented 66.4%, and paper-based payments represented 31.1%. However, the use of cash is expected to decline by 10% in terms of total market share by 2027.

Spotlight Spain — Record Growth Expected by 2027

Spain recorded 364M instant payment transactions in 2022, expected to grow to 2.4B by 2027, a CAGR of 30.4%.
Spain launched its domestic instant payments system Bizum in October 2016 and later adopted SCT Inst in November 2017. The adoption of instant payments has been on a gradual rise, supported by increasing participation from banks and financial institutions. While Bizum had 32 participants, SCT Inst was adopted by more than 90 banks in Spain as of November 2022.
The share of instant payments of the total volume of electronic payments will increase from 2.6% in 2022 to 8.2% by 2027.



Featured image credit: Edited from freepik.
]]></description><link>https://fintechnews.eu/europe-lags-behind-asia-and-latin-america-in-real-time-payments-adoption</link><guid>3257</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Europe Lags Behind Asia and Latin America in Real-Time Payments Adoption</dc:text></item><item><title>KKR to Buy EUR40 billion of PayPal’s Buy Now Pay Later Loans in Europe</title><description><![CDATA[PayPal Holdings and KKR, a leading global investment firm, announced the signing of an exclusive multi-year agreement for a €3 billion replenishing loan commitment under which private credit funds and accounts managed by KKR will purchase up to €40 billion of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain, and the United Kingdom.
Under the terms of the agreement, KKR’s private credit funds and accounts will acquire substantially all the European BNPL loan portfolio held on PayPal’s balance sheet at the close of the transaction and will also acquire future originations of eligible BNPL loans. PayPal will remain responsible for all customer-facing activities, including underwriting and servicing, associated with its European BNPL products.
While the concept of split installment payments for consumer purchases has been around for decades and online consumer financing has been a strategic offering of PayPal since 2008, BNPL has dramatically increased in popularity over the past several years. Since launching its first BNPL offering in 2020, PayPal has become an industry leader with its PayPal Pay Later products, issuing more than 200 million loans to over 30 million customers in eight markets around the world. In 2022, PayPal processed more than $20 billion of BNPL payment volume globally, up approximately 160% from 2021.




   



    
   


   








Gabrielle Rabinovitch
“Buy now, pay later has become a major asset to PayPal’s checkout experience, driving engagement, payment volume growth, and repeat use while delivering high-value customers to our merchants. Our collaboration with KKR will allow us to accelerate our PayPal Pay Later originations alongside market demand in Europe while preserving free cash flow for other strategic initiatives. This transaction is yet another example of our disciplined approach to capital allocation.”
said Gabrielle Rabinovitch, senior vice president, acting chief financial officer of PayPal.
KKR is funding the transaction through its private credit funds and accounts.
Vaibhav Piplapure
“We are thrilled to deepen our footprint in consumer finance through this transaction and to work with one of the leading players in this space. We believe that PayPal Pay Later offers a differentiated experience that positions PayPal to capture additional share in this growing market.”
said Vaibhav Piplapure, a managing director at KKR.
Subject to certain conditions, this transaction is expected to close in the second half of 2023.


Featured image credit: Edited from freepik.


]]></description><link>https://fintechnews.eu/kkr-to-buy-eur40-billion-of-paypals-buy-now-pay-later-loans-in-europe</link><guid>3256</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>KKR to Buy EUR40 billion of PayPal’s Buy Now Pay Later Loans in Europe</dc:text></item><item><title>Postfinance Plans Swiss Digital Franc</title><description><![CDATA[PostFinance wants to drive the development of a Digital Swiss Franc and is entering into partnership with Swiss Stablecoin Ltd for this purpose. As part of a joint proof of concept, a digital image of the Swiss franc will be released for specific use cases and tested for practicability in PostFinance’s test environment.
In conjunction with Swiss Stablecoin Ltd (SSC), PostFinance plans to launch a stablecoin for Switzerland – in other words, a digital franc. The goal is to create a broadly supported payment method that will make the payment system in Switzerland simpler and more efficient.
The digital franc will be based on open-access blockchain technology. As the first step in their new partnership, PostFinance and SSC are working with the association cardossier to conduct the proof of concept (PoC).




   



    
   


   








A catalyst for the digital economy
Stablecoins are digital currencies that are known for their value stability. They are backed 1:1 by a collateral value and reflect the exchange rates of national currencies − in this case, the Swiss franc. PostFinance is convinced that digitized business models will become increasingly important in the future and that Switzerland needs a digital franc.
Benjamin Staeheli, Chief Business Unit Officer for Payment Solutions at PostFinance, says:
Benjamin Staeheli
“The particular benefit for customers is the programmability of the digital franc. By adding logic to payments, processes can be made more efficient and automated. This represents a high level of potential for innovation and could become a catalyst for the digital economy.”
SSC was founded in 2022 by former member of the National Council and Council of States Pascale Bruderer. SSC shares PostFinance’s ambition to create a currency with a digital franc that enables new functions and also enjoys confidence and broad acceptance among the population.

Pascale Bruderer
“We are delighted that we have found the ideal partner for the project launch in PostFinance, a strong, innovative financial institution. Together, we want to do the pioneering work and ensure right from the outset that a digital franc will also bring real economic benefits,”
says Pascale Bruderer, founder and Chair of the Board of Directors of SSC.
Cardossier as the first use case
PostFinance and SSC are testing the project as a joint PoC in a closed ecosystem. The first concrete use case will be the association cardossier, of which PostFinance is a founding member. cardossier is a platform via which all relevant information on the entire life cycle of a vehicle can be stored and transferred in a traceable and secure manner. Payments for services within cross-company processes during a vehicle’s life cycle represent the perfect test environment for the digital franc. Very small amounts are charged during the cardossier vehicle change process, which is why it makes sense to integrate a micropayment solution.
The goal of the PoC is to issue and redeem the digital franc via a Swiss bank’s network. SSC Ltd will provide the necessary infrastructure. This will form the basis for duplicating the process across other financial service providers in future, allowing a digital franc to be made available to the economy and the public at large on a step-by-step basis.
In addition to its goal of driving the development of the digital franc, PostFinance is also involved in other cryptocurrency-related projects. For example, PostFinance is engaged in the initiative launched by the Swiss Bankers Association, which is laying important groundwork by developing a Deposit Token for the Swiss financial center.

Featured image credit: Benjamin Staeheli, Chief Business Unit Officer for Payment Solutions &amp; Pascale Bruderer, founder and Chair of the Board of Directors of SSC.  Background image edited from Freepik.
]]></description><link>https://fintechnews.eu/postfinance-plans-swiss-digital-franc</link><guid>3255</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Postfinance Plans Swiss Digital Franc</dc:text></item><item><title>Generative AI to Produce up to US$340B Yearly in Additional Revenues for the Banking Sector</title><description><![CDATA[Generative artificial intelligence (AI) is expected to have a significant impact across all industry sectors but banking will be among those the most impacted, a new report by McKinsey and Company says.
Estimates by the consultancy show that the technology could potentially generate value from increased productivity of 2.8-4.7% of the industry’s annual revenues, translating to an additional US$200-340 billion in revenues annually, the study found.
Generative AI productivity impact by business functions, Source: McKinsey and Company, June 2023
In the banking industry, generative AI has the potential to improve on efficiencies already delivered by AI by taking on lower-value tasks in risk management, the report says, including required reporting, monitoring regulatory developments, and collecting data. On top of that, the use of generative AI tools can also enhance customer satisfaction, improve decision making, boost employee experience, and decrease risks.




   



    
   


   








A generative AI bot trained on proprietary knowledge such as policies, research, and customer interaction, for example, can provide always-on, deep technical support. Morgan Stanley, for instance, is building an AI assistant using OpenAI’s technology to deliver relevant content and insights to financial advisors, driving efficiency and scale. The solution will leverage the technology to access, process and synthesize content and provide advisors and their teams with answers in an easily digestible format.
In the banking sector, generative AI can also be useful for software development, the report says. It can be used to draft code, helping developers code more quickly, reducing friction but also enabling automatic translations and no- and low-code tools. These tools can also automatically prioritize, run, and review different code tests, accelerating testing and increasing coverage and effectiveness. They are also capable of reviewing code to identify defects and inefficiencies in computing. Finally, generative AI’s natural-language translation capabilities can be used to optimize the integration and migration of legacy frameworks.
In addition to virtual assistants and software development, generative AI tools can be used to provide tailored content at scale, the report says, whether that’s personalized marketing and sales content tailored to specific client profiles and histories, or documentation.
Up to US$4.4 trillion per year in value added to the global economy
McKinsey and Company estimates that generative AI could translate to the addition of up to US$4.4 trillion per year in value to the global economy, with about 75% of this value falling across four areas: customer operations, marketing and sales, software engineering and research and development (R&amp;D).
Impact of generative AI across potential corporate use cases, Source: McKinsey and Company, June 2023
Generative AI can also substantially increase labor productivity across the economy, the consultancy claims, generating a total economic benefits in labor productivity of up to US$7.9 trillion annually as labor productivity grow between 0.1-0.6% annually through 2040.
AI’s potential impact on the global economy, US$ trillion, Source: McKinsey and Company, June 2023
Projections by McKinsey and Company are consistent with those that have been made by other industry experts and observers. A new report by Creative Dock Group (CDG), an independent corporate venture builder in Europe and the Middle East and North Africa (MENA) region, and Rohrbeck Heger, the strategic and foresight arm of Creative Dock, expects generative AI to transform the landscape of finance by 2026 by delivering personalized experiences and optimized management systems.
In particular, AI-powered platforms can provide personalized financial advice and recommendations, catering to each customer’s unique needs and goals, the report says. AI can also be used in financial risk management to improve decision-making, reduce default rates, and automate compliance processes.
Generative AI is a subfield of AI focused on developing algorithms and models that are capable of generating new text, images, or other media in response to prompts. The technology came under the spotlight in November 2022 after the launch of OpenAI’s ChatGPT, an AI-powered chatbot that went viral for its ability to mimic human language and speaking styles, all the while providing coherent and topical information.
ChatGPT surpassed one million users in just five days, and in January, the chatbot surged past the 100 million monthly active users mark, becoming the fastest-growing consumer app in history.
The rise of ChatGPT has sparked a frenzy in the tech community and captured the attention of venture capital (VC) investors globally.
Although AI and ML funding declined last year, generative AI startup VC investment remained resilient in 2022, reaching a total of US$4.5 billion, according to Pitchbook data. This year, VCs increased their positions in the technology, with roughly US$1.7 billion being generated across 46 deals in Q1 2023. An additional US$10.68 billion worth of deals were announced in the quarter but have not completed, PitchBook’s data show.
VC deals for generative AI, Source: Pitchbook, April 2023

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/generative-ai-to-produce-up-to-us340b-yearly-in-additional-revenues-for-the-banking-sector</link><guid>3254</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Generative-AI-productivity-impact-by-business-functions-Source-McKinsey-and-Company-June-2023.png?x30842</dc:content ><dc:text>Generative AI to Produce up to US$340B Yearly in Additional Revenues for the Banking Sector</dc:text></item><item><title>Fintech Was Sequoia Capital’s Top Investment Category in 2022</title><description><![CDATA[2022 was a challenging year for the fintech sector. Funding dried up, stocks plunged and many companies were forced to shut down or sell themselves. But despite a trying environment that was marked by an uncertain economic picture and growing recession fears, Sequoia Capital, one of the most  prominent private equity and venture capital (VC) firms in the world, remained optimistic about the prospect of fintech, making the sector its top investment category in 2022, a new analysis by CB Insights, a business analytics platform and global database, found.
Fintech represented nearly a quarter of the firm’s deals in 2022, the report says, with most deals going towards fintech startups in the capital markets, payments and payroll and benefits segments. These categories made up for 16% of Sequoia’s total fintech investment deals, each, and were the firm’s top three fintech targets.
Sequoia Capital’s fintech investments in 2022, Source: CB Insights
In capital markets, Sequoia Capital invested in four companies, participating in Citadel Securities’ US$1.2 billion VC round, Capitolis’s US$110 million Series D, Watershed’s US$70 million Series B and Ledgy’s US$23 million Series B.




   



    
   


   








Citadel Securities is one of the world’s largest market markers and is active in more than 50 countries; Capitolis provides a capital marketplace for financial institutions and institutional investors, and portfolio optimization solutions; Watershed is a climate tech company that provides both a carbon accounting platform for businesses to measure and track their carbon footprint, and a carbon offset marketplace; and Ledgy is an equity management platform for high-growth startups and scaleups.
Three of these deals were follow-on investments, demonstrating Sequoia Capital’s faith in the future of capital markets tech, the report says.
In payments, the firm’s investments spanned consumer and business use cases. The companies that received funding from Sequoia Capital last year operate in four distinct markets, namely buy now, pay later (BNPL), expense management, peer-to-peer (P2P) payments and online payments acceptance.
Klarna, which secured a US$800 million private equity round in July 2022, is the world’s BNPL leader, providing retailers with payment options including installments, delayed payments, monthly financing and an interest-free card. Yokoy, a Swiss startup that secured a US$80 million Series B in March 2022, provides an all-in-one solution that automates spend management for midsize and enterprise companies through artificial intelligence (AI). Telda, an Egypt-based startup that raised US$20 million in a Seed round in October 2022, runs a consumer money app that offers a Mastercard debit card and spend tracking tools. And Cococart, a Singaporean startup that raised US$4.2 million in March, provides an e-commerce platform with tools for creating online stores easily with no code, no design and no app downloads.
In the payroll and benefits vertical, Sequoia Capital doubled down on its commitment to the sector by making four investments last year. All four were follow-ons to existing portfolio companies and involved Remote, a remote workforce management platform that secured a US$300 million Series C in April 2022; Rippling, an all-in-one employee management software that links human resources, IT and finance, which raised US$250 million in a Series D in May 2022; CaptivateIQ, a sales compensation management platform that secured a US$100 million Series C in January 2022; and Truework, a startup that leverages payroll data to help lenders verify borrowers’ income and employment which raised US$50 million in a Series C in August 2022.
Besides these three verticals, Sequoia Capital also made investments across a variety of fintech sectors last year, including personal finance, real estate, accounting and taxes, cryptocurrency, business banking and regtech.
Notable rounds the firm participated in in 2022 include Personetics’s US$85 million growth funding round, Zefir’s US$22.7 million Series A, and Found’s US$60 million Series B.
Personetics is a fintech software company specializing in personalizing banking experiences; Zefir is a French online real estate marketplace; and Found is a banking and tax app for small-business owners, freelancers, and the self-employed.
Sequoia Capital isn’t the only prominent VC firm that invested significant amounts into fintech last year. A separate report by CB Insights shows that Andreessen Horowitz (a16z) remained very active in the fintech space across various deal stages, valuations, geographies, and sub-industries in 2022.
According to the analysis, almost a quarter of a16z’s 206 startup deals last year went to fintech companies, making it the firm’s top investment category. In 2022, a16z’s fintech investments were centered around payments and blockchain startups, which made up for 28% and 22% of its fintech deals.
Andreessen Horowitz’s fintech investments in 2022, Source: CB Insights
In 2022, investors scaled back their investment pace drastically amid slumping public markets. This pushed startup investment down and led fintech funding to decline by a sizeable 46% last year. Mega-rounds of US$100 million and up accounted for just US$36.5 billion, marking a 60% drop from 2021’s record activity, data from CB Insights show.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/fintech-was-sequoia-capitals-top-investment-category-in-2022</link><guid>3253</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Sequoia-Capitals-fintech-investments-in-2022-Source-CB-Insights.png?x30842</dc:content ><dc:text>Fintech Was Sequoia Capital’s Top Investment Category in 2022</dc:text></item><item><title>Backbase Acquires UK Digital Wealth Platform Nucoro</title><description><![CDATA[Backbase announced its acquisition of Nucoro, the UK-based digital wealth platform for an undisclosed amount. The acquisition will allow Backbase to incorporate Nucoro’s headless platform capabilities directly into the Backbase Engagement Banking platform, enabling its customers to launch digital end-to-end investment offerings, such as robo-advisory, trading, or hybrid advisory services.
The wealth management platform market eclipsed $3 billion in 2022 with analysts predicting a 10% CAGR in the next decade. Investment products are an important value creator globally for retail banks, private banks, and wealth managers, and this acquisition demonstrates Backbase’s commitment to helping financial institutions deliver world-class investing experiences to their customers.
Jouk Pleiter
“We see a trend where retail banks want to quickly launch differentiating investment propositions to complement their daily banking services. Think of capabilities like enhanced savings, pension products, stock trading, and portfolio management. With these services, they can generate extra revenue and expand their share of wallet with their most valuable customers .For private banks and wealth management firms, we see a growing demand to modernize their legacy point solutions and hollow out their bespoke core systems. I’m super excited about the potential of this powerful combined platform to provide instant end-to-end value for both retail and private banks.”
Jouk Pleiter, Founder and CEO of Backbase said.




   



    
   


   








For the last three years, Nucoro was part of the Backbase fintech partner ecosystem and both companies have been closely collaborating on joint engagements. At a technical level, both platforms are based on open industry standards and share a microservice-based architecture, enabling Backbase to accelerate its ONE platform, ONE architecture vision.
Lennart Asshoff
“Backbase is an ideal partner to bring the next generation of wealth infrastructure to financial institutions around the world. As a trusted innovation partner to financial institutions, Backbase offers us the reach and technical expertise to take our vision further.”
Lennart Asshoff, Nucoro Co-Founder and CEO said.
The Backbase Engagement Banking Platform was recognized as a leader earlier this year by industry research analysts at Celent and Omdia. Having grown organically to over €200 million in revenue, Backbase raised €120 million in growth equity funding from Motive Partners in 2022.

Featured image credit: Lennart Asshoff, Nucoro Co-Founder and CEO and Jouk Pleiter, Founder and CEO of Backbase . Background image edited from Freepik

]]></description><link>https://fintechnews.eu/backbase-acquires-uk-digital-wealth-platform-nucoro</link><guid>3250</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Backbase Acquires UK Digital Wealth Platform Nucoro</dc:text></item><item><title>Bank of China and UBS Issue First Fully Digital Tokenized Structured Notes in Hong Kong</title><description><![CDATA[BOCI (Bank of China) has successfully issued CNH 200 million fully digital structured notes, making it the first Chinese financial institution to issue a tokenized security in Hong Kong. The product was originated by UBS and placed to its clients in Asia Pacific, marking a long-term collaboration between BOCI and UBS in the space of digital structured notes.
UBS had issued a USD 50 million tokenized fixed rate note in December 2022 under English and Swiss law, digitized on a permissioned blockchain.
By issuing these digital securities, both BOCI and UBS have taken new steps in terms of applicable law and blockchain types. This transaction marks the first product of its kind in Asia Pacific constituted under Hong Kong and Swiss law and tokenized on the main Ethereum blockchain, successfully introducing regulated securities onto a public blockchain.




   



    
   


   








As an overseas investment banking institution of the BOC Group, BOCI has a long history in serving various types of clients through continuous product innovation. BOCI was the first Chinese financial institution to issue structured notes overseas. At present, BOCI is a leading Chinese issuer with a full range of products, large volume of issuance and complete services to its clients.
“BOCI is very pleased to be at the forefront of innovation in technology finance and digital finance. Working together with UBS, we are driving the simplification of digital asset markets and products, for customers in Asia Pacific through the development of blockchain-based digital structured products, designed specifically for customers in Asia Pacific. We are encouraged by the evolution of Hong Kong’s digital economy and are committed to promoting the digital transformation and innovative development of Hong Kong’s financial industry.”
said Ms Ying Wang, Deputy CEO at BOCI.
UBS continues to expand its tokenization services, through UBS Tokenize, across structured products, fixed income, and repo financing.
Aurelian Troendle
“We are pleased to work with BOCI on this transaction to bring structured products onto a public blockchain network, supporting our APAC clients’ increasing interest in fully regulated digital asset products. High-frequency issuance activity can benefit from vast efficiency gains through the use of blockchain technology, which will ultimately bring advantages to investors. UBS is excited to work with issuers like BOCI to broaden our client offering through our tokenization capabilities.”
said Aurelian Troendle, Global Head of MTN Trading at UBS AG.


Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/bank-of-china-and-ubs-issue-first-fully-digital-tokenized-structured-notes-in-hong-kong</link><guid>3251</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Bank of China and UBS Issue First Fully Digital Tokenized Structured Notes in Hong Kong</dc:text></item><item><title>EPAM Announces Strategic AI Partnership With Google Cloud</title><description><![CDATA[EPAM Systems, a  digital transformation services and product engineering company, announced a strategic, global partnership with Google Cloud to develop and deploy Artificial Intelligence (AI)-first Google Cloud solutions to help enterprises overcome operational challenges and drive transformational growth.
Through this partnership EPAM will expand its global, cloud-native engineering and integration services and introduce targeted vertical solutions and managed services around Google Cloud AI solutions, including Vertex AI, Generative AI App Builder, Model Garden and more.
Learn more about EPAM and Google Cloud’s Partnership
Elaina Shekhter‎
“We are excited to expand our partnership with Google Cloud to bring the power of AI to our clients.Today’s technology transformations are built on the foundation of digital and cloud-native developments, many of which we’ve been working with Google on since the mid-2000s. Larger scale success with AI will also be critically enabled by a new wave of EPAM’s industry leading data engineering and ML capabilities. By furthering our long-standing partnership, we will help our clients stay ahead of the competition in a fast-changing digital landscape.”
said Elaina Shekhter‎, Chief Marketing &amp; Strategy Officer, EPAM




   



    
   


   








As the global AI market soars and adoption expands, demand is increasing exponentially for AI, machine learning (ML) and advanced engineering across all industry verticals. This partnership will leverage Google Cloud’s advanced AI and ML capabilities, and EPAM’s platform and data engineering DNA and nearly 30 years of experience engineering, consulting, and software development experience to deliver innovative cloud-enabled AI, data modernization, migration, data and analytics solutions to the Forbes Global 2000.
“Generative AI has the potential to streamline business processes and even transform entire industries. By combining Google Cloud’s generative AI capabilities with EPAM’s engineering expertise, we will help customers leverage cloud-first technology and generative AI as a catalyst for digital transformation, rapidly realizing business value, addressing real-world use cases and driving business growth across industries.”
said Michael Clark, Vice President, Google Cloud North America Regions.
EPAM and Google Cloud have a 15-year, global 360-degree partnership that combines EPAM’s engineering DNA, strategic consulting, and growing industry focused technology solutions with Google Cloud’s infrastructure, AI/ML, generative AI and analytics technology. While continuing to focus on the long-standing tenants of this partnership, EPAM and Google Cloud will expand their collaboration to build and deliver AI-driven solutions helping enterprises in key verticals including financial services, consumer, telecom, media, entertainment, healthcare, life sciences, energy and high-tech to modernize and transform their businesses.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/epam-announces-strategic-ai-partnership-with-google-cloud</link><guid>3252</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>EPAM Announces Strategic AI Partnership With Google Cloud</dc:text></item><item><title>Neon Customers Tap Cross-Border Payments Thanks to Wise Platform Integration</title><description><![CDATA[The partnership between Swiss neobank Neon and cross-border payment specialist Wise is providing the neobank’s customers with faster, lower cost and more transparent international payments, allowing them to send move in more than 40 currencies around the world right from within the Neon app.
Since launching in 2020, the capability has been used by over 20,000 Neon customers, or about 15% of the neobank’s clientele, and usage is growing exponentially, Wise said in a case study.
Neon co-founder Julius Kirscheneder said the company chose Wise because of the company’s low-cost and high efficiency solution which allows for fast settlement times and a simply integration process.




   



    
   


   








Currently, more than 60% of cross-border transactions going through the Wise Platform on the Neon app are near instant and get settled into the recipient’s account in less than 10 minutes, Wise said. That’s a considerable improvement given that remittances typically take several days to reach the intended recipients because funds need to pass through multiple banks and financial institutions, causing delays at each stage.
Remittances are not just slow, they can also be incredibly expensive, going as high as 15-20% of the principal, according to the International Monetary Fund (IMF).
Kristalina Georgieva, IMF managing director, estimates that the average cost of a remittance transfer currently stands at 6.3%, implying that some US$45 billion per year are diverted into the hands of intermediaries and away from ultimate beneficiaries, including millions of lower-income households.
Wise, formerly known as TransferWise, has developed a system that streamlines international transactions and minimizes the cost and complexity of sending money abroad.
Instead of converting a sender’s money at the time of transfer, Wise’s technology matches the transfer with someone else who wants to send money in the opposite direction, avoiding thus intermediary banks and markups, allowing customers to save up to six times compared to traditional banks, the company claims.
Wise, which was launched in 2011, started out catering to the consumer market before developing its business-to-business (B2B) offering. With its Wise Platform product, the company is licensing its technology to other businesses, allowing them to offer Wise-supported transfers and exchanges.
The company says the Wise Platform has witnessed notable traction, launching 15 new partnerships in 2022 and entering 2023 with a total of 60 partners globally. Nearly 10 million new customers gained access to Wise’s cross-border payment infrastructure via the platform in 2022 alone.
Companies that currently rely on the Wise Platform include digital banks and neobanking startups Yapeal, N26, Bunq, Monzo, ZA Bank and Sable, expense management platform Emburse, as well as trading platform Tiger Brokers.
Like these young fintech companies, Swiss neobank Neon is tapping into Wise’s cross-border payment capabilities and relying on a partnership strategy to provide customers with a richer digital banking experience and more value. Kirscheneder said in an interview that partnerships also allow the Neon to differentiate from its competitors and offer a unique proposition that’s not provided by anyone else in the Swiss market.
Julius Kirscheneder
“Our partnership with Wise is a unique feature in the Swiss market, and brings additional value to customers that other providers can’t offer, and we already see several attractive opportunities to expand our partnership,”
he said.
“Many of our customers are requesting to see some more of the features and products that are available on the Wise app directly through Neon, and delivering them is on our roadmap in 2023.”
Launched in 2017, Neon strives to develop a secure, user-friendly and comprehensive mobile banking proposition. The company’s platform allows customers to onboard digitally in less than ten minutes, manage their finances, make payments and more, all through a mobile app. Neon doesn’t have a banking license of its own but instead is partnered with Hypothekarbank Lenzburg.
Currently, more than 140’000 customers use a Neon account, which, according to the company, makes it the fastest growing Swiss solution for a mobile banking account.
Neon generated CHF 3.5 million in revenue in the first eight months of 2022, surpassing 2021’s turnover. The startup has been voted one of Top 100 Swiss Startups since 2020.
Neon closed in November 2022 a CHF 11 million financing round from existing investors and some 5,000 investors through its crowdfunding campaign. The company said it would use the proceeds on product improvement and development and new products launches, as well as towards building a path to profitability.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/neon-customers-tap-cross-border-payments-thanks-to-wise-platform-integration</link><guid>3249</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Neon Customers Tap Cross-Border Payments Thanks to Wise Platform Integration</dc:text></item><item><title>Martin Scholl wird Beirat der Finanzberater Matching Platform FinFinder.ch</title><description><![CDATA[Analog einer Börse kann man anhand individueller Suchkriterien auf der Finanzplattform www.finfinder.ch geprüfte Finanzcoaches auswählen.
Bereits heute sind auf der Plattform über 200 Finanzberaterinnen und -berater registriert. Im Zuge der Weiterentwicklung hat FinFinder.ch nun ein Advisory Board eingesetzt, welches das Startup bei strategischen Fragen unterstützt.
Diesem gehören neben Martin Scholl, ex-CEO der Zürcher Kantonalbank, Lina Bee, Gründerin von Fempreneurs und Markus Bucheli, Head of Marketing &amp; Communications der Helvetia, an.




   



    
   


   








Martin Scholl
«Ich finde die Idee von FinFinder.ch spannend, da das Finanzportal einem grossen Bedürfnis von Privatpersonen entspricht, selbst professionelle Finanzberater zur Lösung persönlicher Finanzanliegen zu finden. Da ich bei dieser neuartigen Plattform viel Potential sehe, unterstütze ich das Startup mit meiner Erfahrung. Technologiegetriebene Innovationen wie FinFinder.ch revolutionieren die Finanzbranche, indem sie Menschen dabei unterstützen, ihre finanziellen Ziele zu erreichen.»
sagt Martin Scholl.
Erste Unabhängige Matchmaking-Plattform für Finanzcoaches
FinFinder.ch ist die erste unabhängige Matchmaking-Plattform für persönliche Finanzcoaches in der Schweiz. Das Unternehmen ist seit zwei Jahren aktiv und generiert täglich Kundenanfragen aus allen Altersgruppen und zu unterschiedlichen Finanzthemen wie Altersvorsorge, Geldanlage, Wohneigentum, Risikoabsicherung, Steuern oder Nachlassplanung. Gegründet wurde das Fintechunternehmen von Andreas Schöni, der auf eine Karriere bei der UBS, Zürcher Kantonalbank und der Schweizer Börse SIX zurückblickt und selbst als Finanzplaner tätig ist und Ati Tosun, der zuletzt in leitender Stellung bei der Zürcher Kantonalbank tätig war und sich vor sieben Jahren als Unternehmer im Aufbau und der Vermarktung von Online-Marktplätzen selbständig gemacht hat.
Andreas Schöni
«Wir freuen uns, Martin Scholl in unserem Beirat begrüssen zu dürfen»
sagte FinFinder.ch-Mitgründer Andreas Schöni.

Kundenbewertungen helfen bei der Suche
Auf der Homepage www.finfinder.ch kann man kostenlos Experten für verschiedene Finanzfachgebiete finden und erhält analog zu Suchplattformen wie man sie von Reise-und Hotelsuchplattformen kennt, auf der Basis von Suchkriterien individuelle Vorschläge für Berater mit entsprechendem Profil und in vielen Fällen auch mit einer Kundenbewertung. Als Nutzer bleibt man vorerst anonym und bekommt von FinFinder.ch ohne Verpflichtungen anhand der eigenen Suchkriterien neun konkrete Beraterprofile vorgeschlagen, teilweise auch mit Videoporträts. Registriert sind auf der stark wachsenden Plattform derzeit über 200 Finanzberaterinnen und -berater, welche entweder selbständig tätig sind oder aber bei einem Finanzunternehmen wie einer Bank, Versicherung oder einem Vermögensverwalter angestellt sind.
Über die selbständigerwerbenden Finanzcoaches hinaus sind auf dem Portal Spezialistinnen und Spezialisten von bekannten Unternehmen wie Raiffeisen, Zürcher Kantonalbank und diversen weiteren Kantonalbanken, Swiss Life, Helvetia, Mobiliar, Axa, Allianz, Maerki Baumann &amp; Co., Generali oder Globalance registriert. Während die Nutzung für Private kostenlos ist, zahlen die geprüften Finanzcoaches für die Registrierung auf der Plattform eine monatliche Abogebühr. Kundendaten erhalten die Finanzcoaches erst, wenn man sie als User ausdrücklich auswählt und sich mit einem Klick dafür entscheidet, mit der Persönlichkeit in Kontakt treten zu wollen.

]]></description><link>https://fintechnews.eu/martin-scholl-wird-beirat-der-finanzberater-matching-platform-finfinderch</link><guid>3246</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Martin Scholl wird Beirat der Finanzberater Matching Platform FinFinder.ch</dc:text></item><item><title>BlackRock and Avaloq Form Strategic Investment Solution Partnership</title><description><![CDATA[Avaloq and BlackRock, through its Aladdin Wealth business, have formed a strategic partnership aimed at enhancing their investment technology solutions for wealth managers and private banks. As part of the strategic partnership, BlackRock is making a minority investment in Avaloq.
This collaboration will enable wealth managers and private banks to enhance their operations throughout the entire client journey, encompassing onboarding, portfolio construction, client reporting and risk management. By combining Avaloq’s leading core banking, client relationship management and mobile banking services with the Aladdin Wealth platform’s robust risk analytics and portfolio management capabilities, the two firms aim to deliver one of the most advanced technology offerings available to the wealth industry.
Martin Greweldinger
“Avaloq is excited to enter into this strategic partnership with BlackRock. Through our relationship with BlackRock and the integration of their Aladdin Wealth capabilities, Avaloq is further solidifying our commitment to providing innovative investment technology solutions for the wealth management industry. This partnership will help us empower our clients to streamline processes, enhance risk analytics, and make more informed portfolio decisions, ultimately delivering greater value to their clients.”
said Martin Greweldinger, Co-CEO of Avaloq.




   



    
   


   








Venu Krishnamurthy,
“BlackRock and Avaloq joining forces will help clients reduce the complexity and friction inherent in many of today’s digital transformations. Our combined offering will make it extremely convenient for clients to implement and adopt Aladdin Wealth’s industry-leading capabilities as it will be deeply integrated with Avaloq’s core banking solutions,”
said Venu Krishnamurthy, Global Head of Aladdin Wealth Tech.
Wealth management clients in Europe and Asia will benefit from access to an integrated wealth tech platform that unlocks the entire value chain including:

Digital portals that enhance the client experience
Comprehensive client reporting, powerful onboarding, and risk profiling tools
Scaled portfolio construction capability and advanced portfolio analytics technology
Unified data model providing consistency throughout client journeys


Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/blackrock-and-avaloq-form-strategic-investment-solution-partnership</link><guid>3247</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>BlackRock and Avaloq Form Strategic Investment Solution Partnership</dc:text></item><item><title>frankly – bietet neu auch digitale Freizügigkeits Lösung an</title><description><![CDATA[Die digitale Vorsorgelösung frankly gibt es neben der dritten neu auch für die zweite Säule.
Genauer: für die Freizügigkeitsguthaben. Kundinnen und Kunden haben die Wahl zwischen einer Kontolösung oder mehreren Anlagelösungen.
Für die indexierten und aktiv verwalteten Anlageprodukte gilt wie bei der Säule 3a die All-in-Fee von aktuell 0,45%. Investiert wird ebenso in die mehrfach ausgezeichneten Swisscanto-Anlageprodukte mit unterschiedlichen Risikoabstufungen und damit verbundenen Renditechancen. Das Angebot richtet sich an Personen zwischen 18 und 70 Jahren mit Wohnsitz in der Schweiz und einem Freizügigkeitsvermögen ab einem Franken.




   



    
   


   








Christian Ohlsen
«Mit der im Februar 2023 eingeführten frankly Version für Computer und Tablet haben wir den Weg für die neuste Lancierung geebnet. Ab sofort ist frankly Freizügigkeit über die Webversion verfügbar. Wer sich etwa selbstständig macht und auf den Bezug des Freizügigkeitsguthabens verzichtet oder sich eine berufliche Auszeit nimmt, erhält mit frankly Freizügigkeit eine digitale und einfache Lösung, um Pensionskassengelder renditeorientiert anzulegen.»
sagt Christian Ohlsen, Business Owner von frankly.
Zurück zum Anfang: Im März 2020 wurde frankly als digitale Lösung für das Wertschriftensparen in der Säule 3a lanciert – entwickelt von der Zürcher Kantonalbank. Investiert wird in Swisscanto-Anlageprodukte. Heute beträgt das verwaltete Säule-3a-Kundenvermögen rund CHF 1,9 Mrd. bei über 80’000 Kundinnen und Kunden. Kurz: frankly hat sich erfolgreich auf dem Markt und als wichtiger digitaler Kanal im Vorsorgegeschäft der Zürcher Kantonalbank etabliert – die Einführung von frankly Freizügigkeit wird diese Entwicklung noch verstärken.
Nachgefragt bei René Buchs, Leiter Produktmanagement Vorsorgestiftungen
René Buchs ist fachlich verantwortlich für frankly. (Bild: Simon Baumann)
Wie kam es zur Lancierung von frankly Freizügigkeit?
Es war naheliegend. Denn mit frankly haben wir bereits ein existierendes Säule-3a-Geschäft. Dieses ist eng verwandt mit dem Freizügigkeitsgeschäft – sowohl aus regulatorischer Sicht wie auch bei den Anlageprodukten. Hinzu kommt das gemeinsame Ziel: das Erhöhen der Vermögen pro Kundin oder Kunde. Einziger Unterschied: Die Freizügigkeitsgelder sind durchschnittlich viel höher als Säule-3a-Bestände.
Warum haben Sie sich dafür entschieden, die Freizügigkeit nur über die Webversion verfügbar zu machen – und nicht in der App?
Freizügigkeitsgelder anlegen ist vor allem für die Kundengruppe Ü50 von Interesse. Hier haben Umfragen ergeben, dass diese Zielgruppe Weblösungen bevorzugt, wenn es um Finanzgeschäfte geht. Weiterhin ist das Anlegen der Freizügigkeitsgelder nur für zirka zehn Prozent aller heutigen frankly-Kundinnen und -Kunden überhaupt relevant.
Wie geht es weiter mit frankly?
Die Idee ist die Ausweitung von frankly auf private Vermögen ausserhalb der Vorsorge. Unter dem Arbeitstitel «frankly Private Portfolio» gibt es Vorarbeiten und Abklärungen zum Vorhaben. Kundinnen und Kunden können sich also bereits jetzt auf mögliche weitere Neuerungen freuen.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/frankly-bietet-neu-auch-digitale-freizugigkeits-losung-an</link><guid>3245</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>frankly – bietet neu auch digitale Freizügigkeits Lösung an</dc:text></item><item><title>Blockchain Zug Initiative sichert sich vom Kanton 40 Milionen CHF</title><description><![CDATA[Der Zuger Regierungsrat will sich während fünf Jahren mit total 39,35 Millionen an den Aufbaukosten der «Blockchain Zug – Joint Research Initiative», einem gemeinsamen innovativen Projekt der Universität Luzern und der Hochschule Luzern, beteiligen. Dadurch wird das Crypto-Valley international zum Zentrum für die Blockchain-Forschung.
Der Regierungsrat beantragt dem Kantonsrat die Gründung eines Zuger Instituts an der Universität Luzern mit neun Lehrstühlen und eine Verstärkung der bisherigen Forschungsaktivitäten an der Hochschule Luzern. Zudem wird eine Kooperations- und Kommunikationsplattform, ein sogenannter Hub, geschaffen.
Zug als führendes Zentrum für Blockchain-Technologie
Taennler-Heinz
Mit der vom Kanton unterstützten Initiative soll Zug zu einem weltweit führenden Zentrum für Blockchain-Forschung gemacht werden.




   



    
   


   








«Wir glauben, dass die Blockchain-Technologie das Potenzial hat, viele Bereiche unseres Lebens zu verändern, und wir wollen sicherstellen, dass wir an der Spitze dieser Veränderung stehen Damit stärken wir den Wirtschaftsstandort Zug weiter, auch weil wir mit diesem Bildungsvorhaben in jene Bereiche investieren, die im Kanton Zug bereits etabliert sind»
lässt Finanzdirektor Heinz Tännler verlauten. Mit Blockchain Zug wird ein innovatives Leuchtturmprojekt mit starker Strahlkraft ins Leben gerufen.
Weltweit einzigartig
Die Forschung wird sich nicht nur auf technologische Aspekte konzentrieren, sondern auch die Auswirkungen der Blockchain-Technologie auf Gesellschaft, Wirtschaft und Politik umfassend untersu-chen. Die «Blockchain Zug – Joint Research Initiative» wird hierbei eine zentrale Rolle spielen. Sie soll dazu beitragen, dass die Forschung aus einer breiteren Perspektive betrachtet wird und auch human-wissenschaftliche Aspekte berücksichtigt werden.
Die Initiative verfolgt das Ziel, Entwicklungen der Blockchain-Technologie und deren Auswirkungen auf Wirtschaft und Gesellschaft zu antizipieren. Damit soll sichergestellt werden, dass der Kanton Zug weiterhin eine Vorreiterrolle in der Entwicklung von Blockchain-Technologien einnimmt und auch international anerkannt wird. Die «Blockchain Zug – Joint Research Initiative» ist ein entscheidender Schritt, um die Forschung aus einer breiteren Perspektive zu betrachten und sicherzustellen, dass die sozialen, wirtschaftlichen und politischen Auswirkungen dieser Technologie vollständig verstanden werden. Es geht nicht nur darum, technologische Fortschritte zu machen, sondern auch darum, zu verstehen, wie diese Fortschritte unsere Gesellschaft beeinflussen. Damit kann das wissenschaftliche Forschungspotenzial auf dem Gebiet der Blockchain-Forschung weltweit einzigartig entwickelt werden.
Hochschule Luzern verstärkt Forschungsaktivitäten
Die Blockchain-Technologie hat das Potenzial, tiefgreifende Auswirkungen auf viele Sektoren zu haben. Durch die Verstärkung der bestehenden Forschungsaktivitäten an der Hochschule Luzern und die gemeinsame Arbeit im Hub mit der Universität Luzern trägt die Hochschule Luzern dazu bei, dieses Potenzial zu entfalten und sicherzustellen, dass die technologischen Fortschritte im Einklang mit den gesellschaftlichen Bedürfnissen stehen.
Finanzierung über Einnahmen aus OECD-Mindeststeuer
Die einmaligen Kantonsbeiträge an den Aufbaukosten der «Blockchain Zug – Joint Research Initiative» in Höhe von insgesamt 39,35 Millionen Franken – verteilt auf fünf Jahre – sollen vollumfänglich aus den Einnahmen aus der Ergänzungssteuer finanziert werden. Es handelt sich bei dieser Initiative um eine Massnahme zur Kompensation der durch die OECD-Mindeststeuer entstehenden Standortnachteile. Ziel der Initiative ist von Anfang an, nach Ablauf der kantonalen Anschubfinanzierung selbsttragend zu werden.

Featured image credit: Edited from freepik.

]]></description><link>https://fintechnews.eu/blockchain-zug-initiative-sichert-sich-vom-kanton-40-milionen-chf</link><guid>3243</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Blockchain Zug Initiative sichert sich vom Kanton 40 Milionen CHF</dc:text></item><item><title>Blockchain Zug Initiative sichert sich vom Kanton 40 Millionen CHF</title><description><![CDATA[Der Zuger Regierungsrat will sich während fünf Jahren mit total 39,35 Millionen an den Aufbaukosten der «Blockchain Zug – Joint Research Initiative», einem gemeinsamen innovativen Projekt der Universität Luzern und der Hochschule Luzern, beteiligen. Dadurch wird das Crypto-Valley international zum Zentrum für die Blockchain-Forschung.
Der Regierungsrat beantragt dem Kantonsrat die Gründung eines Zuger Instituts an der Universität Luzern mit neun Lehrstühlen und eine Verstärkung der bisherigen Forschungsaktivitäten an der Hochschule Luzern. Zudem wird eine Kooperations- und Kommunikationsplattform, ein sogenannter Hub, geschaffen.
Zug als führendes Zentrum für Blockchain-Technologie
Taennler-Heinz
Mit der vom Kanton unterstützten Initiative soll Zug zu einem weltweit führenden Zentrum für Blockchain-Forschung gemacht werden.




   



    
   


   








«Wir glauben, dass die Blockchain-Technologie das Potenzial hat, viele Bereiche unseres Lebens zu verändern, und wir wollen sicherstellen, dass wir an der Spitze dieser Veränderung stehen Damit stärken wir den Wirtschaftsstandort Zug weiter, auch weil wir mit diesem Bildungsvorhaben in jene Bereiche investieren, die im Kanton Zug bereits etabliert sind»
lässt Finanzdirektor Heinz Tännler verlauten. Mit Blockchain Zug wird ein innovatives Leuchtturmprojekt mit starker Strahlkraft ins Leben gerufen.
Weltweit einzigartig
Die Forschung wird sich nicht nur auf technologische Aspekte konzentrieren, sondern auch die Auswirkungen der Blockchain-Technologie auf Gesellschaft, Wirtschaft und Politik umfassend untersu-chen. Die «Blockchain Zug – Joint Research Initiative» wird hierbei eine zentrale Rolle spielen. Sie soll dazu beitragen, dass die Forschung aus einer breiteren Perspektive betrachtet wird und auch human-wissenschaftliche Aspekte berücksichtigt werden.
Die Initiative verfolgt das Ziel, Entwicklungen der Blockchain-Technologie und deren Auswirkungen auf Wirtschaft und Gesellschaft zu antizipieren. Damit soll sichergestellt werden, dass der Kanton Zug weiterhin eine Vorreiterrolle in der Entwicklung von Blockchain-Technologien einnimmt und auch international anerkannt wird. Die «Blockchain Zug – Joint Research Initiative» ist ein entscheidender Schritt, um die Forschung aus einer breiteren Perspektive zu betrachten und sicherzustellen, dass die sozialen, wirtschaftlichen und politischen Auswirkungen dieser Technologie vollständig verstanden werden. Es geht nicht nur darum, technologische Fortschritte zu machen, sondern auch darum, zu verstehen, wie diese Fortschritte unsere Gesellschaft beeinflussen. Damit kann das wissenschaftliche Forschungspotenzial auf dem Gebiet der Blockchain-Forschung weltweit einzigartig entwickelt werden.
Hochschule Luzern verstärkt Forschungsaktivitäten
Die Blockchain-Technologie hat das Potenzial, tiefgreifende Auswirkungen auf viele Sektoren zu haben. Durch die Verstärkung der bestehenden Forschungsaktivitäten an der Hochschule Luzern und die gemeinsame Arbeit im Hub mit der Universität Luzern trägt die Hochschule Luzern dazu bei, dieses Potenzial zu entfalten und sicherzustellen, dass die technologischen Fortschritte im Einklang mit den gesellschaftlichen Bedürfnissen stehen.
Finanzierung über Einnahmen aus OECD-Mindeststeuer
Die einmaligen Kantonsbeiträge an den Aufbaukosten der «Blockchain Zug – Joint Research Initiative» in Höhe von insgesamt 39,35 Millionen Franken – verteilt auf fünf Jahre – sollen vollumfänglich aus den Einnahmen aus der Ergänzungssteuer finanziert werden. Es handelt sich bei dieser Initiative um eine Massnahme zur Kompensation der durch die OECD-Mindeststeuer entstehenden Standortnachteile. Ziel der Initiative ist von Anfang an, nach Ablauf der kantonalen Anschubfinanzierung selbsttragend zu werden.

Featured image credit: Edited from freepik.

]]></description><link>https://fintechnews.eu/blockchain-zug-initiative-sichert-sich-vom-kanton-40-millionen-chf</link><guid>3248</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Blockchain Zug Initiative sichert sich vom Kanton 40 Millionen CHF</dc:text></item><item><title>The Winners of the Swiss Fintech Awards 2023 Are…</title><description><![CDATA[For the eighth time, the Swiss FinTech Awards are given to outstanding Swiss start-ups and influential organizations on the evening of June 13 at the Swiss FinTech Awards Night in Zurich.
Winner Early stage startup category

In the category “Early Stage Start-up of the Year”, Pelt8 is the winner. The young company offers an innovative solution for the increasingly important sustainability reporting. Pelt8 receives a prize money of CHF 42,000. Also making it to the finals of this category was the start-up Sustainaccount, which makes climate risks easier to analyse. The two finalists show that the sustainability topic has arrived and is thriving in the fintech sector.




   



    
   


   








Winner growth stage startup category

The category “Growth Stage Startup of the Year” goes to the start-up NetGuardians. Banks and other financial service providers use the AI-based solution from NetGuardians in the fight against fraudulent activities and thereby protect customer funds. Also in the final was the company Taurus, which provides financial institutions the technology stack required for offering digital assets.
Fintech Influencer Award

The business angel network SICTIC is honoured for its long-time contribution to the innovative and dynamic Swiss fintech location.The Swiss FinTech Awards recognize, among other things, the important role of the investor collective for the funding of early stage fintech start-ups in Switzerland. However, SICTIC not only makes investments in startups, but also organizes the Fintech Investor Days, which are an important networking platform for start-ups throughout Switzerland. The Swiss start-up ecosystem has benefitted from SICTIC’s commitment over the years.
While the start-ups go through a multi-stage application process to convince the jury, the “FinTech Influencer of the Year” is directly nominated and chosen by the jury. The jury of the Swiss FinTech Awards consists of around 20 renowned fintech experts and industry thought leaders.

]]></description><link>https://fintechnews.eu/the-winners-of-the-swiss-fintech-awards-2023-are</link><guid>3244</guid><author>Administrator</author><dc:content /><dc:text>The Winners of the Swiss Fintech Awards 2023 Are…</dc:text></item><item><title>Nasdaq to Acquire Software Firm Adenza from Thoma Bravo for 10.5 Billion USD</title><description><![CDATA[NASDAQ will acquire Adenza from US Private Equity company Thoma Bravo in a US$10.5 billion cash and common stock deal.
Holden Spaht, a Managing Partner at Thoma Bravo, Adenza’s parent firm, is anticipated to join an expanded NASDAQ board post-acquisition.
Adenza was established through the merging of two major global brands – Calypso and AxiomSL. With its end-to-end treasury, risk, and collateral management workflows, Calypso assists capital markets participants, while AxiomSL provides regulatory and compliance software for financial institutions.




   



    
   


   








Adenza is a fast-growing software company created through the combination of two well-known global brands – Calypso and AxiomSL. Calypso serves capital markets participants with end-to-end treasury, risk, and collateral management workflows, while AxiomSL supports financial institutions with leading regulatory and compliance software.
The integration of Adenza into NASDAQ’s portfolio will augment its Marketplace Technology and Anti-Financial Crime solutions, and significantly broaden its services in regulatory technology, compliance, and risk management. Through Adenza, NASDAQ will be able to offer better support to financial institutions, creating a multi-asset class, full trade lifecycle platform paired with regulatory technology solutions.
Adenza is projected to boost NASDAQ’s financial profile by growing the Solutions Businesses revenue from 71% to 77% by 2023, and enhancing the adjusted EBITDA margin to 57%. Moreover, it is expected to add around US$300 million to NASDAQ’s annual unlevered pre-tax cash flow.
Adena Friedman
“The acquisition of Adenza brings together two world-class franchises steeped in market infrastructure, regulatory, and risk management expertise at a time when financial institutions are navigating some of the most complex market dynamics in history,”
said Adena Friedman, Chair and Chief Executive Officer, Nasdaq.
Didier Bouillard
“This transaction is an endorsement of the entire Adenza team and what we have built with Thoma Bravo, from our market-leading products to the immense value we have delivered for our customers,”
said Didier Bouillard, Chief Executive Officer at Adenza.
The transaction will extend NASDAQ’s reach in the European banking system and increase its standing in the North American and Asia Pacific regions, positioning the company to better meet global demand for risk management and regulatory solutions.
The acquisition meets NASDAQ’s mergers and acquisitions criteria, enhancing performance and valuation potential, while meeting clear financial requirements. Post-acquisition, NASDAQ’s enterprise-wide return on invested capital is expected to exceed 10% by the fifth year.
To finance the acquisition, NASDAQ will pay US$5.75 billion in cash and issue 85.6 million shares of its common stock to Adenza’s owners, a company controlled by Thoma Bravo, representing approximately 14.9% of the outstanding NASDAQ shares. NASDAQ plans to issue approximately US$5.9 billion of debt between signing and closing the deal.
After the transaction, NASDAQ will continue with its existing capital deployment plan, which includes steadily increasing its dividend per share and achieving a dividend payout ratio of 35-38% within three to four years. The company also plans to repurchase shares over time to offset dilution from the transaction.

Featured image credit: Adena Friedman, Chair and Chief Executive Officer, Nasdaq. Background image edited from Freepik.
]]></description><link>https://fintechnews.eu/nasdaq-to-acquire-software-firm-adenza-from-thoma-bravo-for-105-billion-usd</link><guid>3242</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Simpego_600x500.png?x30842</dc:content ><dc:text>Nasdaq to Acquire Software Firm Adenza from Thoma Bravo for 10.5 Billion USD</dc:text></item><item><title>New Challenger Bank Alpian Recognized as a Trailblazer in Digitalization Efforts, Customer Experience</title><description><![CDATA[Alpian, a digital private bank launched last year, has been named as one of Switzerland’s trailblazers in digital customer experiences and digitalization efforts, joining the ranks of digital innovators and pioneers in the Swiss retail banking industry such as Vontobel, Julius Bar and Pictet, a new study by Colombus Consulting, a French boutique consulting firm, shows.
The Digital Index and Performance study, an annual analysis that looks at digitalization in Swiss retail banking, has revealed its 2023 ranking of the country’s best performing banks and neobanks in digitalization and customer experience enhancement efforts.
The ranking, which takes into consideration 50 metrics across web, mobile, marketing, and social media categories to gauge Swiss banks’ digital presence and performance, put Alpian at the 4th place in this year’s ranking, a remarkable debut that’s supported by the digital bank’s large media budgets, its well-positioned mobile app, as well as its well-tailored customer experiences on its website and through its content sharing platform i-vest.ch.




   



    
   


   








Looking deeper into Alpian’s key metrics, the report shows that the digital bank performed well in the web category, ranking 7th nationally. The digital bank was recognized for the outstanding user experience (UX) it provides, as well as its fast and seamless digital onboarding process that takes just ten minutes.
Alpian was further praised for the clarity and transparency of its offers, with advertised fees and services included. The bank was also commended for i-vest.ch, an educational and content sharing platform it operates and on which it shares content produced by its advisors and other community members.
In the mobile app category, Alpian came in the 2nd place this year, recognized for its apps’ good ratings, regular updates and wide range of functionalities.
The Alpian mobile app allows users to conduct typical banking transactions such as payments and foreign exchange but users can also use it to chat in real-time with a bank staff member and schedule in-app video calls with a Swiss-based wealth advisor.
Finally, in the digital marketing and social media categories, Alpian performed relatively well, recognized for its increased investments in social media presence and engagement, especially in LinkedIn, as well as in paid search, the report says.
Alpian’s Digital and Performance Index, Source: Digital Index and Performance of Swiss Private Banks, Colombus Consulting, June 2023
Alpian opened for business at the end of 2022, targeting the Swiss affluent with assets between CHF 100,000 to CHF 1 million. The bank offers private banking services and investment expertise through a hybrid model that combines machine and human intelligence. It strives to deliver the quality of service and expertise that’s normally reserved for those at traditional private bank.
Alpian mobile app, Source: Alpian.com
Vontobel tops ranking; digital marketing investments increase
The 2023 Digital Index and Performance ranked Vontobel, Julius Bar and Pictet at the top of list. These private banking and investment management firms surpassed their rivals and the Swiss average in terms of monthly web visits, average time spent by visitors, and average page load time of their websites, an indicators of their websites’ usability and performances as well as of client experience. They also ranked relatively high in digital marketing, leading the group in their search engine optimization (SEO), email and social media efforts, and social engagement on popular platforms, including LinkedIn, Facebook, Twitter and YouTube.
Vontobel, in particular, stood out in the web, digital marketing and in mobile app categories. Julius Bar was the year’s leader in the social media index and performed well in the other three categories where it still remained in the top five. And Pictet outperformed its competitors in the web and mobile app categories, and showed relatively good results in the social media index. The bank, however, lagged behind in the digital marketing arena.
2023 Digital Index top 10 Swiss retail banks, Source: Digital Index and Performance of Swiss Private Banks, Colombus Consulting, June 2023
Findings of this year’s study revealed some noteworthy trends. Swiss private banks across the board are increasing their investments in digital marketing. The estimated total annual digital marketing budget increased by 61% this year compared with 2022, with a preponderance for paid search, in particular, and for some banks, social media.
All private bank websites attracted 7% more visits this year compared with 2022, though the audience is evolving significantly. The number of visits coming from social networks witnessed a drop in 2023 in favor of paid referencing, which increased notably to make up for 65% of traffic.
Distribution of the digital marketing budget and audience by channel, Source: Digital Index and Performance of Swiss Private Banks, Colombus Consulting, June 2023
This year, Swiss private banks continued to expand their product offerings, focusing on trading and cryptocurrency products in particular. Julius Bar is teaming up with SEBA Bank to launch crypto management and allow for the storage, trading and borrowing of digital assets. Similarly, Syz Group is partnering with Taurus to offer crypto custody and trading services.
Another trend outlined in the report is Swiss private banks’ increased focus on enhancing their mobile apps.Some of the new features that have been developed in recent months include app screen improvement, consolidated investment consultation, investment suggestions, push buttons for financial analysts’ publications, electronic signatures on documents and biometric authentication.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/new-challenger-bank-alpian-recognized-as-a-trailblazer-in-digitalization-efforts-customer-experience</link><guid>3241</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>New Challenger Bank Alpian Recognized as a Trailblazer in Digitalization Efforts, Customer Experience</dc:text></item><item><title>Virtual Financial Advisory On the Rise</title><description><![CDATA[Ongoing economic uncertainty and geopolitical volatility are making wealth management more daunting for investors, fueling changes in preferences and expectations through greater demand for advice and virtual advisory experiences, as well as openness to working with multiple providers, a new study by EY found.
The research, which polled more than 2,600 wealth management clients based in 27 key markets around the world, sought to examine shifting investor views and explore the implications of the increasing volatile market environment on clients in different regions, of different ages and of differing levels of wealth.
Findings of the research, which were shared in a full report, show that volatility and complexity are having a profound impact on investors’ needs and behaviors, driving demand for additional advice, personalization, as well as virtual experiences.




   



    
   


   








Competition ramps up
Clients of all types are seeking out additional advice (33%) in response to market volatility, and many are open to working with new providers (44%). Of the investors surveyed, 14% are planning to add a new provider, 21% are looking to move money to another provider and 9% plan to switch altogether over the next three years.
Clients’ appetite to work with or switch providers, Source: 2023 Global Wealth Research Report, EY
A research into the use of wealth management providers in the past, present and future revealed that every category of wealth firm will have opportunities to capture new clients moving forward.
Across all categories, customers shared intent to increase usage in the coming years, though fintech companies and digital assets trading platforms are expected to witness the strongest growth.
In 2023, 9% and 11% of respondents indicated using a fintech provider and a digital assets/crypto trading platform, respectively. Over the next three years, the number of clients working with fintech companies is expected to double to 18%, while penetration of digital assets trading platforms is projected to increase by four percentage points to 15%.
Use of wealth management providers in the past, present and future, Source: 2023 Global Wealth Research Report, EY
Adoption of digital assets among retail investors has increased in virtually every markets since 2019, with consumers often mentioning growth prospects as well as the desire to support blockchain development as their top motivations for owning crypto. In Switzerland, the penetration of crypto more than doubled between 2019 and 2023, rising from 10% to 21%, data from the Statista’s Consumer Insights show.
Emerging markets, however, recorded the strongest growth. In India, the penetration of crypto increased by more than threefold, rising from 8% in 2019 to 27% in 2023. Uptake was also strong in Indonesia where 29% of respondents indicated owning or using crypto in 2023, up from just 11% in 2019.
Share of respondents who indicated they either owned or used cryptocurrencies from 2019 to 2023, Source: Statista, June 2023
Demand for virtual interactions on the rise
Findings of the EY study also reveal that engagement preferences are changing too, with customers showing greater appetite than before for virtual interactions and personalized products and services. In the 2021 EY survey, just 12% of respondents identified virtual consultations as their preferred channel for advice, a figure that now stands at 46%.
Channel preferences differ depending on the type of interaction. For most investment advice activities, respondents cited virtual advisor interactions enabled by phone or video as their channel of choice (46%). Advisory (52%) and discretionary (57%) clients showed the strongest preferences for advisor-led virtual interactions.
Preferred engagement channel for investment management and advice, Source: 2023 Global Wealth Research Report, EY
At the same time, results of the study also show that physical contact as well as advisor accessibility and responsiveness are essential to clients. The majority of respondents (71%) said they wanted regular or periodic contact from their advisor, and 84% said they valued swift responses to their inquiries.
Face-to-face interaction is particularly important during onboarding. 48% of respondents identified in-person interaction as their preferred engagement channel during account opening. Customers cited being introduced to the wealth management team (68%) and personalized welcome experiences (60%) as important or very activities during onboarding.
At the same time, customers also value a clear and easy onboarding process, including the ability to track their account status digitally (69%), clear onboarding steps (72%) and the ability to share account setup documents digitally (69%).
These findings suggest that a digitally-led onboarding experience is important for clients but that human support remains critical.
Account opening activities most important to clients, Source: 2023 Global Wealth Research Report, EY

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/virtual-financial-advisory-on-the-rise</link><guid>3240</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Virtual Financial Advisory On the Rise</dc:text></item><item><title>Illicit Crypto Volume Reaches All-Time High Despite Markets Slump</title><description><![CDATA[In spite of a market downturn and a prolonged “crypto winter”, the volume of illicit cryptocurrency transactions continued to rise in 2022, reaching an all-time high of US$20.6 billion, new data released by blockchain analysis firm Chainalysis show.
Total cryptocurrency value received by illicit addresses, 2017-2022, Source: The 2023 Crypto Crime Report, Chainalysis
The sum represents a 13.8% increase from the previous all-time high of US$18.1 billion recorded in 2021, and comes despite a market slump that saw total capitalization plummeting by more than 60%. Total market capitalization started off the year 2022 at US$2.2 trillion to hit an annual low of US$810 million in December.
The price of bitcoin fell by more than 75% in 2021, dropping from an all-time high of US$64,000 in mid-November to below the US$16,000 mark in late-December. The cryptocurrency is now trading at around US$26,400, up 60% this year.




   



    
   


   








The price of bitcoin, Source: Coinmarketcap.com, June 08, 2023
Crypto sanctions on the rise
Growing illicit crypto volumes in 2022 were driven by soaring activity associated with sanctioned entities, which accounted for 43% of the year’s volume.
This comes on the back of rising crypto-related sanctions from the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, which grew from just two individuals in 2018 to nine crypto-related entities and about 100 addresses in 2021.
Sanctioned crypto-related entities and number of sanctions-related addresses by year added, 2018-2022, Source: The 2023 Crypto Crime Report, Chainalysis
2022 saw some of OFAC’s biggest cryptocurrency service designations to date. Three in particular are notable: Garantex, a Russia-based crypto exchange; Tornado Cash, a decentralized crypto mixer; and Hydra, a darknet market.
OFAC sanctioned Garantex in April 2022 for willfully disregarding anti-money laundering and countering the financing of terrorism (AML/CFT) obligations and allowing its systems to be abused by illicit actors. The exchange facilitated over US$100 million in transactions associated with illicit actors and darknet markets between 2019 and early 2022, according to OFAC.
The agency sanctioned crypto mixer Tornado Cash in August last year, claiming the service had been used to launder more than US$7 billion worth of crypto since its inception in 2019, including over US$455 million stolen by the Lazarus Group, a Democratic People’s Republic of Korea state-sponsored hacking group.
And Hydra, Russia’s most prominent darknet market, was sanctioned by OFAC in April following the shutdown of the market by Germany’s federal police. Hydra ran a marketplace that sold ransomware-as-a-service, hacking services and software, stolen personal information, counterfeit currency, stolen crypto and illicit drugs. OFAC’s investigation identified approximately US$8 million in ransomware proceeds that transited to Hydra’s crypto accounts. According to blockchain researchers, approximately 86% of the illicit bitcoin received directly by Russian crypto exchanges in 2019 came from Hydra.
Timeline of OFAC crypto-related sanctions designations, 2018-2022, Source: The 2023 Crypto Crime Report, Chainalysis
An analysis of on-chain data by Chainalysis found that each of the three sanctioned services were affected differently by their designations by OFAC and revealed that sanctions can be extremely effective when there is international cooperation.
While inflows into Hydra dropped to zero as soon as the marketplace was sanctioned and seized, Garantex, on the other end, saw its crypto transaction volume steadily increase post-designation, reaching an average of approximately US$1.3 billion in monthly inflows through October 2022. Tornado Cash, meanwhile, saw a drop in inflows from virtually every category, with the exception of funds from scammers and mixing services.
Decentralized finance remains top target for hackers
In 2022, illicit transaction volumes fell across all major categories of crypto-related crime, with the exception of stolen funds, which rose 7% year-over-year (YoY). This marked 2022 as the biggest year ever for crypto hacking, with US$3.8 billion stolen from cryptocurrency businesses.
YoY percent change in value received by crime type, 2019-2022, Source: The 2023 Crypto Crime Report, Chainalysis
Decentralized finance (DeFi) protocols were the primary target of crypto hackers last year, continuing a trend that started in 2020 and accelerated in 2021. In 2022, DeFi protocols accounted for 82.1% of all cryptocurrency stolen by hackers, or US$3.1 billion, up from 73.3% in 2021.
Cryptocurrency stolen in hacks by victim platform type, 2016–2022, Source: The 2023 Crypto Crime Report, Chainalysis
Of the US$3.1 billion stolen from DeFi protocols, 64% came from cross-chain bridge protocols specifically.
Cross-chain bridges are protocols that let user port digital assets and data from one blockchain to another. Their design and specificities vary but most protocols on the market right now work by “wrapping” tokens in a smart contract and issuing native assets to be used on the other blockchain.
Since cross-chain bridges essentially work as liquidity providers, collecting funds and locking them into a central point of storage, they have become an attractive target for criminals.
In 2022, the share of crypto transactions associated with illicit activities rose for the first time since 2019, growing from 0.12% in 2021 to 0.24% last year. Despite the slight rise, illicit activity in cryptocurrency remained a small share of total volume and continued to trend downwards.
Illicit share of all cryptocurrency transaction volume, 2017-2022, Source: The 2023 Crypto Crime Report, Chainalysis

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/illicit-crypto-volume-reaches-all-time-high-despite-markets-slump</link><guid>3239</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Total-cryptocurrency-value-received-by-illicit-addresses-2017-2022-Source-The-2023-Crypto-Crime-Report-Chainalysis.png?x30842</dc:content ><dc:text>Illicit Crypto Volume Reaches All-Time High Despite Markets Slump</dc:text></item><item><title>Amnis Treasury Takes Over SME Business of Fx-Consulting AG</title><description><![CDATA[AMNIS Treasury, a FinTech company founded in 2014 with the objective of simplifying international banking for SMEs, has recently acquired the SME portfolio of FX-Consulting AG. With this strategic move, the two Zurich-based companies aim to enhance their support for Swiss SMEs in international transactions. The acquisition further solidifies amnis’ position as the leading FinTech company in Switzerland’s international SME banking sector.
Amnis offers small and medium-sized enterprises (SMEs) an international banking solution to send money abroad, exchange currencies and receive payments via business accounts in more than 20 currencies. Virtual and physical multi-currency debit cards further simplify expense reporting for companies and their employees. Last year, the company entered 6 new countries, tripled its team and processed CHF 1.5 billion in payment volume. In the first trimester of 2023, amnis continued to grow year-on-year with 94% volume growth and 97% revenue growth. The portfolio acquisition now enables amnis to further expand its position in the domestic market.
Cross-border payment transactions incur high costs for companies. Large corporations, equipped with their own payment factories, gain a competitive edge due to their greater negotiating power. The shared objective of both companies is to provide SMEs with access to transparent and automated foreign exchange and payment processes. However, FinTechs face challenges due to factors such as war, inflation, and rising interest rates, which exert pressure on them. Through the takeover, FX-Consulting AG’s SME customers can be guaranteed the best possible offer despite the current market environment.




   



    
   


   








Adrian Spörri
FX-Consulting AG was founded in 1995 in Zurich and specialises in foreign exchange trading for companies. Adrian Spörri, owner of FX-Consulting AG, says about the takeover:
“The merger with amnis represents the optimal solution for my long-standing, loyal clients. With this collaboration, we can ensure the provision of the best possible offerings and maintain competitiveness without depending on the goodwill of the house bank.”
As a member of the Advisory Board at amnis, Adrian Spörri will continue to be available to his clients.
Michael Wüst
“We look forward to working with Adrian and the new SME customers. Our solution will enable the additional users to further simplify their international banking. The partnership with FX-Consulting AG may well be a model for amnis to grow even faster in Switzerland and Europe,” says Michael Wüst, Co-founder and CEO of amnis.
Amnis was founded in 2014 by Michael Wüst (CEO), Robert Bloch (COO) and Philippe Christen (CFO) to simplify international banking for SMEs. To meet its ambitious goals, amnis has continuously improved its core product, automated the digital account opening process and expanded its product portfolio to include local IBAN and multi-currency accounts.
In July 2023, the Fintech company will be launching virtual and physical multi-currency debit cards that come with convenient features for budget controls and simplified accounting. With the successful acquisition, all customers of FX-Consulting AG can now enjoy the advantages of the all-in-one amnis business account.

Featured image credit: Edited from amnis.
]]></description><link>https://fintechnews.eu/amnis-treasury-takes-over-sme-business-of-fx-consulting-ag</link><guid>3238</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Amnis Treasury Takes Over SME Business of Fx-Consulting AG</dc:text></item><item><title>Hyperpersonalisierung bei Schweizer Retail-Banken</title><description><![CDATA[Effizient und risikoarm Hyperpersonalisierung im Sinne der Kunden einführen, eine Win-Win-Situation schaffen und sich zukunftssicher für den Wettbewerb mit digitalen Herausforderern aufstellen
Ein Bankkunde loggt sich bei seiner Bank ein. Da seine Bank auf Hyperpersonalisierung setzt, wird die Benutzeroberfläche automatisch entsprechend den bisherigen Interaktionen des Kunden angepasst. Der Kunde sieht also eine personalisierte Startseite, mit Informationen zu seinen letzten und antizipierten Banking-Belangen. Da der Kunde vorhin einen Interkontinentalflug über seine Kreditkarte gebucht hat, weist seine Bank darauf hin, dass an seinem Reiseziel mit seiner aktuellen Kreditkarte Gebühren bei Bargeldabhebungen und Kartenzahlungen anfallen. Neben dieser Information wird eine passende Alternative – wie eine Reisekreditkarte – angeboten, die hilft, die Gebühren zu reduzieren bzw. sogar ganz zu vermeiden.
Dieses Beispiel ist keine ferne Zukunftsmusik. Tatsächlich ist eine derartige Hyperpersonalisierung bei digital führenden Playern schon längst Standard. Dabei nutzen IT-Systeme (Echtzeit-) Daten, um Produkte, Dienstleistungen oder Inhalte zu erstellen, die kundenspezifisch und hochgradig detailliert sind. Oft ist der Prozess komplett automatisiert. Sowohl Fintechs als auch Big-Techs haben den Wert von Daten für ihre Geschäfte bereits früh erkannt und setzen aggressiv auf Hyperpersonalisierung.
Das bedroht die etablierten Banken. Bislang waren Fintechs zu klein, um eine ernsthafte Gefahr für Banken darzustellen und Big-Techs in anderen Geschäftsfeldern aktiv. Doch nun, da Fintechs erwachsen werden und Big-Techs immer öfter auch Finanzdienstleistungen anbieten (siehe Apple Card Savings Account), geraten Banken zunehmend unter Druck.
Banken besitzen bereits die wichtigste Grundlage für Hyperpersonalisierung
Doch die gute Nachricht ist: Hyperpersonalisierung ist auch für etablierte Retail-Banken möglich, und lässt sich zudem schneller und einfacher erreichen als gedacht. Denn die wichtigste Grundlage dafür ist bereits da: Etablierte Retail-Banken sitzen auf wahren Datenschätzen. Sie besitzen umfassende Informationen zu ihren Kunden. Sie verfügen über so viele Kundeninformationen wie kaum eine andere Branche. Die Daten umfassen alles, von Ausgabentrends bis hin zu Anlageportfolios. Und die Banken haben den direkten Draht zu ihren Kunden: Ob persönlich, per Email, per SMS oder in der App – sie haben viele Touchpoints.
Hyperpersonalisierung schafft eine Win-Win-Situation für Banken und ihre Kunden
Die Datenlage und die Kontaktmöglichkeiten sind also exzellent, um personalisierte Angebote zu erstellen und auszuspielen. Und es gibt viele wichtige Gründe, warum Banken auf Hyperpersonalisierung setzen sollten: Wenn die richtigen Angebote die richtigen Personen zur richtigen Zeit erreichen, schafft das eine Win-Win-Situation für Banken und ihre Kunden. Banken steigern Umsatz sowie Gewinn und positionieren sich darüber hinaus als ein starker Partner, der auf die individuellen finanziellen Belange jedes einzelnen Kunden eingeht.
Das steigert die Kundenbindung – ein Aspekt, der kaum zu überschätzen ist. Denn Banking ist heutzutage ein „Commodity Service“ und Bankkunden vergleichen keine Marken mehr, sondern Experiences. Und wenn die Banking Experience bei einem Fintech oder Big-Tech besser ist, wechselt der Kunde. Für Kunden wiederum ist Hyperpersonalisierung attraktiv, weil sie erstens beim Banking die Experience bekommen, die sie von Spotify, Netflix und anderen Digital Champions gewohnt sind. Und zweitens bekommen sie die Finanzprodukte, die zu ihrer Lebenssituation passen. Diese Win-Win-Situation stärkt etablierte Kreditinstitute im harten Wettbewerb mit Fintechs und Big-Techs.
Die Frage nach der Umsetzung
Die Vorteile sind enorm, der Wettbewerbsdruck ist hoch: Viele Entscheider haben bereits erkannt, dass Hyperpersonalisierung ihrer Bank riesige Chancen bietet, ihre Bank ohne sie jedoch sehr wahrscheinlich ernsthafte Schwierigkeiten bekommen wird. Da ist die Frage berechtigt, wieso Hyperpersonalisierung nicht schon längst von viel mehr Schweizer Retail-Banken angeboten wird.
Eine mögliche Antwort darauf ist, dass sich viele Entscheider noch fragen, wie genau sie die Hyperpersonalisierung schnell, effizient und risikoarm in ihrer Bank einführen. Die dafür nötige Modernisierung der IT scheint arbeitsintensiv, langwierig, teuer und mit ungewissem Ausgang riskant. Wird es funktionieren, einen möglichst großen Teil als Eigenentwicklung bereitzustellen? Was wird die Eigenentwicklung kosten, wie lange wird sie dauern? Oder wäre es besser, mittels Best of Breed die Lösungen verschiedener Anbieter miteinander zu kombinieren? Oder gibt es eine Plattform, die alle Herausforderungen adressiert?
Silos,  Analyse,  Kommunikation.
Um diese Fragen zu beantworten, schauen wir uns kurz aus der Vogelperspektive die größten Milestones an, die auf dem Weg zur Hyperpersonalisierung zu nehmen sind. Die Daten sind – wie gesagt – schon vorhanden. Doch oft liegen sie in Silos. Diese Silos müssen also zunächst erschlossen werden. Dann müssen die Daten mittels Machine Learning bzw. Künstlicher Intelligenz analysiert werden, um Erkenntnisse zu gewinnen. Mit den Erkenntnissen verstehen Banken, was ihre Kunden wollen und was sie als nächstes wollen werden. Und schließlich müssen die Banken die richtigen Angebote zur richtigen Zeit über den passenden Kanal an ihre Kunden ausspielen. Denn die beste Reisekreditkarte nützt nichts, wenn das Angebot dafür per E-Mail an einen Kunden gesendet wird, der zwar zugestimmt hat, per E-Mail kontaktiert zu werden, aber noch nie eine E-Mail seiner Bank geöffnet hat. Oder wenn das Angebot für die Reisekreditkarte per Brief versendet wird und den Kunden einen Tag vor seiner Abreise erreicht.
Eine Plattform für alle Herausforderungen
Mit einem Plattform-Ansatz – genauer gesagt mit einer Engagement-Banking-Plattform – adressieren Banken alle oben genannten Milestones, ohne ihre Legacy IT verändern zu müssen. Eine Engagement-Banking-Plattform hilft dabei, einen lose mit den Datensystemen gekoppelten Engagement Layer zu erstellen, der die in den Silos gefangenen Daten erschließt. Des Weiteren bringt eine Engagement-Banking-Plattform Fähigkeiten zur Datenanalyse mit und erlaubt es, diese Fähigkeiten unkompliziert durch die Integration von Fintech-Lösungen zu erweitern. Schließlich ermöglicht es die Engagement-Banking-Plattform den Marketern der Bank, mit einem benutzerfreundlichen Interface hyperpersonalisierte Marketingkampagnen durchzuführen.
In diesem Interface können Marketer beispielsweise eine Kampagne für alle Kunden umsetzen, die vor kurzem einen Flug gebucht haben und noch keine Reisekreditkarte haben. Dabei legen sie mit wenigen Klicks fest, welcher Content auf welchen Kanälen an dieses Kundensegment ausgespielt wird. Anschließend lässt sich auf derselben Plattform auch die Performance auswerten: Welche Kunden mit welchen Merkmalen – aus welchem Segment – haben auf welchem Kanal am häufigsten auf das Angebot reagiert? Diese Daten fließen dann in alle zukünftigen Kampagnen ein.
Risiken eliminieren und Time to Market senken
Es steht Banken frei, selbst Lösungen zu entwickeln, um die oben genannten Milestones zu erreichen. Aber ist das sinnvoll, und lassen sich zuverlässig die folgenden Fragen beantworten wie beispielsweise: Wie lange wird die Eigenentwicklung dauern und wie viel wird sie kosten? Sind genug Experten verfügbar, die das Knowhow dafür haben? Wie groß ist dann der laufende Aufwand, um die Lösung zu betreiben, also die Weiterentwicklung, der Support für die Mitarbeiter, Troubleshooting, Security Fixes, Audits etc.?
Auch der Best-of-Breed-Ansatz birgt seine Tücken: Welche Anbieter haben gute Lösungen für die drei Bereiche Silos erschließen, Daten analysieren und Angebote erstellen plus ausspielen? Wie gut integrieren die Lösungen in der Praxis miteinander? Es treibt die Kosten und verlangsamt den Prozess enorm, wenn zum Beispiel die Analyse hervorragend funktioniert, aber die gewonnenen Erkenntnisse nicht effizient genutzt werden können, weil die Lösung zum Ausspielen der Angebote nicht nahtlos mit der Analyselösung integriert.
Diese Aufwände und Risiken gilt es genau abzuwägen. Alternativ zu Eigenentwicklung und Best of Breed lohnt sich daher ein Blick auf existierende Engagement-Banking-Plattformen, die am Markt verfügbar sind und mit vergleichsweise geringem Aufwand und Risiko eine Bank maßgeblich bei der Hyperpersonalisierung unterstützen.
]]></description><link>https://fintechnews.eu/hyperpersonalisierung-bei-schweizer-retail-banken</link><guid>3237</guid><author>Administrator</author><dc:content /><dc:text>Hyperpersonalisierung bei Schweizer Retail-Banken</dc:text></item><item><title>Rise of Digital Nomads Introduces Identify Verification Challenges to Banks and Fintech Companies</title><description><![CDATA[The rise of remote work is forcing adjustments within businesses and introducing new challenges. For finance and technology businesses, the number of foreign document verification cases has increased considerably throughout the years, a development which organizations are struggling to deal with.
A new research initiated by Regula, a provider of identity verification solutions and forensic devices, found that businesses in the banking and fintech sectors are ill-equipped to address these market changes with many still relying to manual checks when performing identity verification.
The findings, shared in a report titled The State of Identity Verification in 2023, draws on primary research and a survey of 1,069 decision-makers in the banking, fintech, technology, telecoms, and aviation sectors, to understand how businesses around the world are working with identity authentication.




   



    
   


   








Results show that the banking and fintech sectors have been particularly impacted by the rise of digital nomads, with 85% and 80% of respondents, respectively, witnessing an increase in the number of document verification cases involving foreign nationals during 2022.
For 62% of respondents in the banking sector and 61% in fintech, the number of foreign document verification cases grew by more than 25%.
Alarmingly, the majority of banking and fintech companies (62%) reported handling foreign document verification cases manually, raising concerns over efficiency and accuracy. Business representatives also noted the problem of incomplete databases of document templates (47% in banking and fintech, respectively), further putting their organizations at risk of fraud.
Business sectors facing a massive increase in the number of foreign document verification cases in 2022, Source: The State of Identity Verification 2023, Regula
Identify fraud has become a major problem for financial institutions worldwide. Findings from the Regula survey show that 26% of the banks polled reported over 100 identity fraud incidents in the past year.
Number of identity fraud incidents during 2022, Source: The State of Identity Verification 2023, Regula
For 31% of these respondents, the incidents cost them on average US$479,000 or more, stemming from business disruptions (44%), penalties and fines (36%), and legal expenses (36%).
Economic impact of identity fraud incidents, Source: The State of Identity Verification 2023, Regula
Last year, the most prevalent form of fraudulent activity experienced by organizations in all surveyed sectors was the use of fake or modified physical documents. Nearly half of fintech companies (46%) and 54% of banks reported being affected.
But newer and more sophisticated techniques are also gaining prominence. 37% of all businesses reported having experienced deepfake voice fraud, a type of fraud that involves the use of artificial intelligence (AI) to create realistic imitations of a person’s voice that can be used to conduct fraud or dupe a person into giving up crucial information.
Organizations targeted by new and sophisticated methods of identity fraud, Source: The State of Identity Verification 2023, Regula
The higher volume and greater sophistication of fraud is prompting businesses in all sectors to ramp up investment in technology and digital solutions. Of the 1,000+ organizations polled in December 2022 and January 2023 for the Regula report, 91% said they intended to increase their spendings on identity verification solutions in the next one to three years. 41% of these companies said they planned to increase their spendings by at least 30%.
Planned increase in identity verification solution spending for organizations over the next one to three years, Source: The State of Identity Verification 2023, Regula
The COVID-19 pandemic has led to an increase in digital nomads worldwide and blurred the traditional borders between work, leisure, home and travel.
The 2022 State of Independence research study by MBO Partners, a provider of technology solutions and personal services to independent professionals and microbusiness owners, found that 16.9 million American workers described themselves as digital nomads last year, up 9% from 2021 and by a staggering 131% from the pre-pandemic year 2019.
Number of American digital nomads (in millions), Source: 2022 State of Independence, MBO Partners
With the digital nomad lifestyle becoming increasingly popular, countries around the world are racing to set up special visa programs for remote workers and digital entrepreneurs, seeking to lure these professionals into their foreign income domestically.
Since Estonia introduced the world’s first digital nomad visa program back in 2020, it’s estimated that over 50 locations have followed suit, including Dubai, Hungary and Costa Rica.
]]></description><link>https://fintechnews.eu/rise-of-digital-nomads-introduces-identify-verification-challenges-to-banks-and-fintech-companies</link><guid>3236</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Rise of Digital Nomads Introduces Identify Verification Challenges to Banks and Fintech Companies</dc:text></item><item><title>TWINT-Gründer neu im Verwaltungsrat der Swiss Stablecoin AG</title><description><![CDATA[Der Gründer und ehemalige CEO von TWINT, Thierry Kneissler, verstärkt neu den Verwaltungsrat der Swiss Stablecoin AG. Weiter gibt das Unternehmen den erfolgreichen Abschluss der ersten Finanzierungsrunde bekannt.
Die Swiss Stablecoin AG (SSC) plant die Herausgabe eines digitalen Abbilds des Schweizer Frankens (CHFD) im regulierten Umfeld sowie im engen Dialog mit Behörden. In der Umsetzung wird auf die Zusammenarbeit mit etablierten Banken sowie Partnern aus der Realwirtschaft gesetzt. Diese Ergänzung der Zahlungsinfrastruktur wird Abwicklungen im digitalen Raum vereinfachen und neue innovative Anwendung ermöglichen.
Thierry Kneissler
2022 von der ehemaligen Politikerin Pascale Bruderer gegründet, schlossen sich der SSC inzwischen kompetente Mitgründerinnen und Mitgründer aus dem Finanz- und Technologiebereich an. Eine zusätzliche Verstärkung erfährt das Unternehmen nun durch die Zuwahl von Thierry Kneissler in den Verwaltungsrat.




   



    
   


   








Thierry Kneissler wechselte nach erfolgreichem Executive MBA an der Universität St. Gallen HSG 2003 zur PostFinance, wo er u.a. als Mitglied der Geschäftsleitung die strategische Entwicklung des Finanzinstituts mitverantwortete. 2014 entwickelte er, zusammen mit einem kleinen Team, die Idee von TWINT und legte mit dem Aufbau, der nationalen Etablierung und der beginnenden Marktskalierung die Grundlage für den grossen Erfolg der beliebten Bezahl-App. Im Herbst 2018 gab Thierry Kneissler die Leitung von TWINT ab. Er ist heute selbständig tätig in den Bereichen Strategieberatung und -ausbildung sowie Mitglied mehrerer Verwaltungsräte, insbesondere im Startup-Umfeld.
Pascale Bruderer
SSC-Verwaltungsratspräsidentin Pascale Bruderer würdigt seine Wahl als weiteren Meilenstein in der jungen Geschichte des Unternehmens: «Wir freuen uns sehr auf die Zusammenarbeit mit Thierry Kneissler. Seine Wahl in den Verwaltungsrat ist für die SSC ein doppelter Gewinn: sowohl eine Bereicherung der unternehmensinternen Kompetenz und Werte als auch ein starkes Signal nach aussen.»
Auf Basis einer erfolgreich abgeschlossenen ersten Finanzierungsrunde mit Schweizer Investoren läuft aktuell die Proof of Concept (PoC)-Entwicklung, welche bis zum Spätsommer dieses Jahres abgeschlossen werden soll.


Featured image credit: The founder and former CEO of TWINT, Thierry Kneissler. Edited from freepik.
]]></description><link>https://fintechnews.eu/twint-grunder-neu-im-verwaltungsrat-der-swiss-stablecoin-ag</link><guid>3233</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>TWINT-Gründer neu im Verwaltungsrat der Swiss Stablecoin AG</dc:text></item><item><title>Verve Ventures Raises Series C, Martin Scholl Joins Board of Directors</title><description><![CDATA[To further invest in its digital platform, serve more investors and drive new partnerships, Verve has raised a Series C financing round from several investors. At the same time, Martin Scholl, former CEO of Zürcher Kantonalbankk (Switzerland’s third-largest bank) will join Verve Ventures’ board of directors.
Martin Scholl
“I am fascinated by venture capital as an investor and want to help other people discover it for themselves. By joining Verve’s board of directors, I want to signal to everyone out there that Verve is a company I believe in personally and that Verve is a company you can trust and should know if you want to invest in startups”,
says Martin Scholl.
Verve Ventures has established itself as one of the best ways for private investors to build a diversified portfolio of startup investments across Europe. Verve Ventures’ assets under management now exceed EUR 300 million. The number of top executives and entrepreneurs who have already invested via Verve has reached more than 1500 and continues to grow every week.




   



    
   


   








Lukas Weber
“The many years spent building a high-quality network of investors and a cutting-edge digital platform to serve them have paid off. We’re proud to welcome Martin Scholl as a new board member, who will help us establish new partnerships with banks that want to offer their clients a more entrepreneurial way to invest”,
says Lukas Weber, co-founder of Verve Ventures.
Recently, Swiss private bank Bergos has partnered with Verve Ventures, while business angel clubs in 7 different European countries have already established ties with Verve.

Featured image credit: Martin Scholl, Board of Directors of Verve Ventures, edited from freepik
]]></description><link>https://fintechnews.eu/verve-ventures-raises-series-c-martin-scholl-joins-board-of-directors</link><guid>3234</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Verve Ventures Raises Series C, Martin Scholl Joins Board of Directors</dc:text></item><item><title>Mastercard Launches New Financial Inclusion Open Banking Initiative in Europe</title><description><![CDATA[Mastercard is announcing its latest open banking innovations in Europe – Account Owner Verification, a new solution that enables a frictionless experience aimed to instantly verify people are who they say they are.
To further fuel the ambitions of Mastercard’s vision in delivering intelligent open banking data services, it is entering a new partnership with France-based open banking credit decisioning specialist, Algoan, which builds upon Mastercard’s strength in enabling smarter lending decisions through open banking in the U.S. and accelerates inclusion through advancements in credit decisioning.
These new innovations support Mastercard’s commitment to embrace new networks and expand its open banking capabilities, which allow people to safely share their financial data to access innovative payment experiences – expanding choice, delivering secure and frictionless lending, and bringing the promise of the digital economy to more people.




   



    
   


   








Secure digital onboarding
In an increasingly digital world, bank account verification is more important than ever before. The launch of Mastercard’s account owner verification service automates, strengthens, and simplifies how businesses across markets and industries can verify customer bank account ownership.
Jess Turner
“With account owner verification, we initiate an important step in Europe towards helping our customers across the ecosystem save time and money through a fast, secure and reliable account verification process. This open banking product innovation gives consumers the power to use their data in new and secure ways to transact through a seamless experience,”
says Jess Turner, EVP, Global Open Banking and API.
Mastercard envisions this solution to have wide impact across industries helping to solve pain points in account opening when adding payment credentials and direct debit origination for players such as digital wallets providers, PSPs, wealth management apps, property technology platforms, insurance companies, e-commerce players and more. The solution enables instant verification of bank account ownership based on Mastercard’s European open banking connectivity. The verification process also provides businesses with a match score that denotes the strength of a match between the name submitted for verification and the name held on file by the end user’s financial institution.
Partnering with European leader in credit scoring
In addition to this new product innovation, Mastercard has initiated a new partnership with France-based open banking credit decisioning specialist, Algoan, to help accelerate financial inclusion across new European markets, starting in the Western European region.
Algoan offers a full suite of credit decisioning tools using open banking to support leading lenders. As part of the partnership, they will use Mastercard Open Banking connectivity to empower their Credit Insights, Credit Score and Payment Score products, alongside categorization feature.
Michael Diguet
“Partnering with Mastercard is a great testimony to the journey we’ve been on for the past five years. We’re excited that our ambition of making credit more accessible and more responsible is shared by Mastercard and this truly marks the beginning of a great collaboration which will further accelerate our growth across Europe and beyond,”
says Michael Diguet, CEO and Co-Founder of Algoan.



Featured image credit: Edited from freepik.
]]></description><link>https://fintechnews.eu/mastercard-launches-new-financial-inclusion-open-banking-initiative-in-europe</link><guid>3235</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Mastercard Launches New Financial Inclusion Open Banking Initiative in Europe</dc:text></item><item><title>Wealth and Asset Managers Turn to Third-Party Tech Solutions to Cut Costs, Fast-Track Time to Market</title><description><![CDATA[Margin pressure, an ever-evolving regulatory landscape and growing investor demand for personalization are pushing wealth and asset managers to pursue digital transformation initiatives in a bid to cut costs and provide more value to their customers.
Since 2018, the share of third-party tech spend across initiatives at wealth and asset management firms has risen by more than 10%, showcasing that wealth and asset managers are filling the tech and IT gap by collaborating with third-party tech specialists, a new report by Boston Consulting Group (BCG) and global end-to-end wealth platform provider FNZ says.




   



    
   


   








The report, titled Scalable Tech and Operations in Wealth and Asset Management, looks at the state of wealth and asset management, arguing that firms in the sector are increasingly using end-to-end third-party platforms to run their operations.
Approaches to third-party tech implementation in wealth and asset management, Source: BCG Expand, Boston Consulting Group and FNZ, June 2023
These end-to-end platforms deliver complete or near complete functional solutions covering a process from beginning to end. They allow wealth and asset managers to reduce the need to develop a proprietary technology architecture and, in some cases, lower the need for in-house staff.
These platforms deliver a multitude of benefits, the report says, including lower maintenance costs, automated regulatory and stability upgrades provided by the vendor, lower interface complexity, higher ease of integration, greater flexibility to execute operating-model changes, lower requirements for upfront capital expenditures, and a higher share of variable costs.
The report highlights several trends that are pushing wealth and asset managers to turn to third-party platforms, naming rising costs, shrinking margins, and intensifying customer demands for digital solutions as key drivers.
It notes that since 2018, wealth and asset managers have been witnessing a gradual increase of their cost-to-income ratios, which indicates that their operating expenses are too high. Smaller players are the most impacted by this, the research found, and suffer much steeper increases compared with their larger counterparts.
Cost-income-ratio of wealth and asset managers based on their size, Source: BCG Expand, Boston Consulting Group and FNZ, June 2023
At the same time, firms are recording a decrease in their profitability, with return on assets falling by 3% per year from 2018 through 2021. Declining profitability can be explained by a number of elements, including shrinking global assets under management (AUM), rising competition from digital players, the consolidation of large incumbents with significant scale advantages, and sluggish economic growth that’s expected to persist through 2025.
Wealth and asset managers income:total AUM 2018-2022, Source: BCG Expand, Boston Consulting Group and FNZ, June 2023
Additionally, product fees have been hit hard by fierce competition and increased cost transparency. The report notes declines of 11% for active funds and 35% for passive funds between 2017 and 2022, while margins on model portfolio services and asset-serving for clients with more than US$2 million decreased by 12% and 16%, respectively.
Margins in wealth and asset management per offering 2017-2022, Source: BCG Expand, Boston Consulting Group and FNZ, June 2023
Simultaneously, clients are demanding superior digital experiences and improved transparency, in addition to advanced capabilities and novel propositions such as hybrid advisory, direct indexing and managed portfolio services.
To make its case, the report shares three case studies that showcase the key benefits of end-to-end platforms.
In the first case study, a mid-sized wealth manager was able to achieve an overall reduction of 25% in operating expenses through platform outsourcing. This was made possible by moving a significant portion of its middle-office and operational applications from the legacy tech stack to an end-to-end wealth platform, the report says.
Costs and savings before and after platform outsourcing, Source: FNZ, Boston Consulting Group and FNZ, June 2023
In the second case study, a large-scale European wealth manager achieved a more streamlined operating model and captured a higher share of discretionary management fees by migrating to an open wealth platform and leveraging model portfolio services. The platform allowed the firm to witness a significant uplift in pretax profit driven by an increase of over 50% in net asset inflows per advisor in the first two years following the program launch, the report says.
Finally, in the last case study, a global asset manager was able to launch a direct-to-consumer offering in a new market in under two years by leveraging an end-to-end platform. The app-based digital investing proposition included both an option for self-directed fund trading as well as a managed portfolio account based on simple profiling and strategy selection.
Wealth and asset management firms have increased their investment in technology considerably over the past years and will continue to invest heavily in digital capabilities and infrastructure enhancement efforts.
A survey of 500 wealth and asset management firms conducted in 2021 by think tank and economic research firm ThoughtLab found that while total IT spending made up for 6.9% of total revenue in 2021, that proposition is expected to increase by 1.5 percentage points to 8.4% by 2023.
Companies will continue to invest in all core technologies, the study found, with the biggest increase expected for artificial intelligence (AI) and machine learning (ML), open platforms and API architecture, and no-code/low-code platforms.
IT spend in wealth and asset management, Source: ThoughtLab study, 2021

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/wealth-and-asset-managers-turn-to-third-party-tech-solutions-to-cut-costs-fast-track-time-to-market</link><guid>3232</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Wealth and Asset Managers Turn to Third-Party Tech Solutions to Cut Costs, Fast-Track Time to Market</dc:text></item><item><title>EAM.Technology Strengthens Its Board of Directors With Industry Expert Fabio Casati</title><description><![CDATA[EAM.Technology AG, a leading technology advisor and provider of “Operations as a Service” for independent wealth managers and family offices, is pleased to announce the appointment of Fabio Casati, an expert in Private Banking, M&amp;A and Risk Management, to its Board of Directors. With his expertise, Fabio Casati will drive the strategic expansion of the company’s operations and sourcing platform.
In its first year of operation, EAM.Technology AG has already acquired significant clients and supported them in their projects and operations, with a focus on their core systems and operational excellence.
As part of its strategic development towards an operations and sourcing platform and the transformation into a limited company, the company has strengthened its Board of Directors. The addition of Fabio Casati, a renowned specialist in Private Banking, M&amp;A and Risk Management, further strengthens the team.
Industry expert with a focus on Business Process Outsourcing (BPO) and Innovation
Fabio Casati
Fabio Casati brings over 25 years of experience in Private Banking, Corporate Finance from UBS, Banca del Gottardo, BSI, and Patrimony (EFG). In various roles in Corporate Finance, Strategic Planning, Private Equity, and Venture Capital, he served as a member of the Risk and Credit Committee.
Additionally, Fabio Casati is a lecturer at the USI Università della Svizzera Italiana and SUPSI (University of Applied Sciences and Arts of Southern Switzerland and responsible for programs such as Master of Corporate Banking and Master of Science in Business Administration (Major in Innovation Management).
He is an expert at Innosuisse, the Swiss Innovation Agency, and a board member of various financial advisory firms. Fabio Casati holds a Master’s degree in Economics from the University of Freiburg (CH) and a Ph.D. in Economics from the same university. Furthermore, he holds a Master’s degree in Strategic Innovation Management from the Swiss Federal Institute of Technology Lausanne and is a Chartered Financial Analyst (CFA Institute).
During his time at BSI, Fabio Casati played a crucial role in business development and the acquisition of Banca del Gottardo by BSI, the Post-Merger-Integration of BSI by BTG-EFG and the business development and sale of B-Source to Avaloq, one of the most significant BPO transactions in Switzerland.
]]></description><link>https://fintechnews.eu/eamtechnology-strengthens-its-board-of-directors-with-industry-expert-fabio-casati</link><guid>3231</guid><author>Administrator</author><dc:content /><dc:text>EAM.Technology Strengthens Its Board of Directors With Industry Expert Fabio Casati</dc:text></item><item><title>Formula 1 Sponsorship Deals with Blockchain Companies Shrink Amid Crypto Scandals and Bear Market</title><description><![CDATA[After a buoyant year 2022, sponsorship deals with blockchain and cryptocurrency companies for the Formula One (F1) race are shrinking this year on the back of high-profile collapses and turbulent markets.
A Bloomberg analysis found that while all teams had at least one crypto-native sponsors in 2022, that proportion declined to 70% this year, as of June. The trend suggests that F1 may be re-evaluating its ties with the crypto industry amid the FTX scandal and a prolonged “crypto winter”.
Mercedes-AMG signed in 2021 a sponsorship agreement with now bankrupt FTX but the deal was suspended last year when the exchange shut down. Mercedes team principal Torger Christian Wolff said in a statement that the collapse of FTX has left Mercedes in “utter disbelief” and that the sector needs to be regulated.




   



    
   


   








“We considered FTX because they were one of the most credible and solid, financially sound partners that were out there,” Wolff said.
“Out of nowhere we can see that a crypto company can basically be on its knees and gone [in] one week. That shows how vulnerable the sector still is. It’s unregulated and I believe it needs to find its way into regulations because there’s so many customers, investors and partners like us that have been left in utter disbelief at what has happened.”
According to filings, Mercedes may now have a claim in FTX’s bankruptcy process. Going into 2023, the team has no crypto-native sponsor for this year’s race.
FTX, a crypto exchange once worth US$32 billion, went under in November 2022 after a dramatic series of events led to a run on deposits and a selloff of FTT, its in-house crypto token. It has been estimated that US$8 billion of customer’s funds was missing.
An analysis by Decrypt shows that before its collapse, FTX spent big bucks on sports sponsorships, inking deals with the likes of Miami Heat, Major League Baseball, the Golden State Warriors, the Washington Wizards and Capitals, and giant esports team TSM. Star athletes like Tom Brady, Steph Curry, and Naomi Osaka also signed on to endorse the exchange in return for equity in the startup.
Besides Mercedes, Ferrari is another team that’s bearing the brunt of the volatile market. In January, the team’s long-term arrangement with Velas came to an abrupt end, with sources telling London Insider that the blockchain company forced its way out of the deal amid the crypto bear market.
AlphaTauri also lost its crypto sponsor, removing smart contract platform Fantom from its list of partners earlier this year; Alfa Romeo dropped its sponsor, Vauld, following troubles at the crypto lender in 2022; Red Bull Racing terminated earlier than expected the multi-year agreement it signed in 2021 with blockchain network Tezos; and Animoca Brands, which had been operating a licensed non-fungible token (NFT) game called F1 Delta Time since 2019, shut down the game last year.
Cryptocurrencies witnessed a tumultuous year 2022, marked by a series of high-profile business failures and slumping markets. Total market capitalization was cut in half last year, starting off 2022 at US$2.2 trillion to hit an annual low of US$1 trillion in November, according to a report by The Block.
Bitcoin fell below its 2017-high in June 2022 and extended its drawdown to -64.1% year-to-date (YTD). All the top ten cryptocurrencies by market capitalization, excluding stablecoins, generated negative returns last year with Polkadot taking the biggest hit (-80.9%), followed by Cardano (-76.9%) and Ethereum (-65.6%).
Year-to-date return of top ten cryptocurrencies in 2022, Source: 2023 Digital Asset Outlook, The Block, Dec 2022
While some crypto startups are scaling back on their marketing spend, others are still aggressively investing in sports marketing.
In March, crypto exchange Kraken announced a new sponsorship and Web3 deal with Williams Racing, making it the team’s first-ever official crypto and Web3 partner. Stake, an online casino and sports betting platform dealing exclusively with cryptocurrencies, entered a multi-year partnership with Alfa Romeo in January. Meanwhile, deals including the US$150 million partnership between Red Bull Racing and crypto exchange Bybit, and Tezos’s arrangement with McLaren, are still alive.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/formula-1-sponsorship-deals-with-blockchain-companies-shrink-amid-crypto-scandals-and-bear-market</link><guid>3230</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Formula 1 Sponsorship Deals with Blockchain Companies Shrink Amid Crypto Scandals and Bear Market</dc:text></item><item><title>30 Must-Attend Sessions at Money20/20 Europe 2023</title><description><![CDATA[Money20/20, one of the world’s largest fintech event series, is coming back on June 06-08 at the RAI Amsterdam Convention Centre in Amsterdam for its annual European edition.
This year’s event is expected to host over 300 industry-leading speakers, including visionary executives from global banks like HSBC, Barclays, and J.P. Morgan; trailblazing fintech companies like GoCardless, Stripe, and Plum; as well as representatives from national and supranational European governments.
This diverse roster of speakers will be dissecting the myriad of challenges faced by players in the industry, tackling topics such as the impact of the cryptocurrency crackdown, the new frontiers of generative artificial intelligence (AI), forthcoming European regulations, and ways to navigate the economic downturn.




   



    
   


   








Dozens of sessions are scheduled to take place throughout the three-day event, promising to deliver attendees essential knowledge, trends, expert insights and networking opportunities.
The following are 30 must-attend sessions featuring top industry experts and stakeholders. These sessions will discuss some of the biggest opportunities and most pressing issues experienced by the sector, ranging from sustainability and financial inclusion, to fraud, Web 3.0 and regulation.
Money2020
Expanding Horizons: Unleashing the Potential of Open Finance Across the Globe
When: Tuesday June 06, 11:05 – 11:30 (25min)
Where: Elements, RAI
During the “Expanding Horizons: Unleashing the Potential of Open Finance Across the Globe” panel discussion, top executives from General Catalyst, Stitch, Belvo, and Plaid will explore how open finance is transforming financial services in Africa, Latin America, and Asia.
Attendees will get to discover how millions of users are being banked for the first time, traditional banking models are being disrupted, and financial innovation is flourishing. This unique conversation will offer lessons the UK and Europe can learn from players in global markets who are unlocking the full potential of open finance.
Speakers:

Zeynep Yavuz, Partner, General Catalyst
Kiaan Pillay, Co-founder &amp; CEO, Stitch
Pablo Viguera, Co-Founder and Co-CEO, Belvo
Ripsy Bandourian, Head of Europe, Plaid

Sustainable Finance: Bringing Transition Finance To Life With Data
When: Tuesday June 06, 11:30 – 11:45 (15min)
Where: The Horizon Stage, powered by Mastercard, RAI
In the face of an endangered future, combating climate change necessitates substantial financial commitment. According to the McKinsey Global Institute, the transition to a net-zero economy will require a staggering US$275 trillion in spending on energy and land-use systems between 2021 and 2050, averaging US$9.2 trillion annually.
Banks and financial institutions play a pivotal role in this transition, driven not only by regulatory pressures but also by the pursuit of new business opportunities.
The “Sustainable Finance: Bringing Transition Finance To Life With Data” session will explore how banks are aligning themselves with climate goals through innovative data-driven approaches. Attendees will get to gain invaluable insights and discover the transformative power of ESG data in guiding sustainable financing practices.
Speakers:

Matthias Lange, Partner, McKinsey &amp; Company
Maria Patschke. CEO, SAP Fioneer ESG Solutions GmbH

From Transactional To Transformational: The Power Of Open Banking In Corporate Finance
When: Tuesday June 06, 11:30 – 12:00 (30min)
Where: Elements, RAI
Corporate banking, a sector marked by numerous simultaneous, complex, and deeply transactional financial relationships, is overdue digitization. Reminiscent of the challenges once faced by retail banking, it grapples with increasing competition, declining customer satisfaction, and rising customer churn, all of which are amplifying the pressure on already shrinking margins.
Fortunately, open banking emerges as a transformative solution for the challenges confronting corporate finance, offering the potential to expedite innovation and digitization.
The “From Transactional To Transformational: The Power Of Open Banking In Corporate Finance” session aims to explore how to harness the true transformative power of open finance and corporate banking, shifting from the realm of transactional to transformational.
Speakers:

Prajit Nanu, Founder and CEO, Nium
James Lloyd, Head of EMEA &amp; APAC, Spring by Citi, Citi
Kanika Hope, Chief Strategy Officer, Temenos
Claire Calmejane, Group Chief Innovation Officer, Societe Generale

Open Banking: The Quest for Harmony
When: Tuesday 6, 12:02 – 12:27 (25min)
Where: Elements, RAI
As the future of banking unfolds, the need for a secure regulatory framework to manage vast amounts of open financial data while safeguarding the privacy and security of customer information becomes increasingly evident.
For regulators, the challenge lies in striking the delicate balance between openness and protection. How can they foster an open financial system that fuels growth and innovation without compromising stability and resilience?
In the “Open Banking: The Quest for Harmony” panel discussion, attendees will get to hear from those who are actively involved in shaping the rules, learn how these industry experts are navigating the intricacies of striking the right balance in an open financial ecosystem, and gain insights into the approaches and strategies employed to foster a harmonious environment that promotes growth and innovation while upholding stability and resilience.
Speakers:

Nilixa Devlukia, Chair, Open Finance Association
Emily Martin, Assistant Secretary, Policy, and Engagement Branch, Consumer Data and Digital Division, The Treasury
Patrick De Neef, Chief Innovation Officer, De Nederlandsche Bank / Dutch Central Bank
Sheldon Mills, Executive Director, Consumers and Competition, Financial Conduct Authority (FCA)

Marketplaces Powering Commerce
When: Tuesday June 06, 13:45 – 14:25 (40min)
Where: Fusion Stage, RAI
With embedded fintech central to the success of digital-first business models, operators are in the unique position to combine their areas of strength with the right partners to win big and scale fast.
The “Marketplaces Powering Commerce” session will explore the evolution of payment technologies and rails, calling in the need for an agile, innovative mindset for approaching payments in the business-to-business (B2B) ecosystem.
Speakers:

Megan Bramlette, Director, North America &amp; EU Payment Acceptance, Amazon
Helena Forest, Head of Product for EMEA Marketplace Solutions &amp; Commerce Solutions, J.P. Morgan
Laurene Lecomte, Head of Risk, Payment and Fraud Management, Back Market

Beyond Survival: Payment Acquiring In A Time Of High Inflation
When: Tuesday 6, 14:28 – 14:55 (27min)
Where: Money-Bot, RAI
In the midst of decades-high inflation, the payment acquiring landscape is experiencing significant challenges. To thrive in this environment, payment acquirers must exhibit agility and resilience, adapting quickly and effectively to protect their position.
The “Beyond Survival: Payment Acquiring In A Time Of High Inflation” session will dive into the strategic implications of an inflationary environment for payment acquiring. A panel of experts, including top executives from Capgemini, Deutsche Bank, and Worldpay from FIS, will explore how acquirers can optimize payment acceptance rates amidst economic instability.
Attendees will discover the benefits of fluidly switching between global and local payment gateways, understand the opportunities presented by this turbulent macroeconomic landscape, and gain valuable insights into the strategies acquirers can employ to deliver unique value to merchants.
Speakers:

Elias Ghanem, Vice President and Global Head of Capgemini Research Institute for Financial Services, Capgemini
Kilian Thalhammer, Head of Merchant Solutions, Deutsche Bank AG

Moderator:

Maria Prados, SVP Global Enterprise Go To Market, Worldpay from FIS

B2B as Easy as B2C? Bringing SME Payments and Financing Up to Speed
When: Tuesday June 06, 15:00 – 15:35 (35min)
Where: Elements, RAI
While business-to-consumer (B2C) fintech has made significant strides, the digitization of the business-to-business (B2B) segment has lagged behind. To address this gap, innovative players like Moss, Tilta, and Mondu are revolutionizing the B2B payment experience for small and medium-sized enterprises (SMEs).
In the “B2B as Easy as B2C? Bringing SME Payments and Financing Up to Speed” panel discussion, experts and industry participants will explore different approaches to enhance user experience, reduce manual friction, and meet the cash flow needs of SMEs. The session will also delve into the importance of investing in SME fraud prevention and underwriting strategies to ensure seamless payment experiences, and debate the role of artificial intelligence (AI) and automated decision-making in underwriting, as well as the data sources that truly matter.
Speakers:

Ingmar Stupp, Founder, Tilta
Stephan Haslebacher. Co-Founder &amp; COO, Moss
Joan Swanson, Head of Fraud Prevention, Mondu

Moderator:

Dr. Niklas Guske, COO, Taktile

What’s Next for Open Banking and Open Finance in Europe?
When: Tuesday June 06, 15:50 – 16:25 (35min)
Where: Fusion Stage, RAI
During the “What’s Next for Open Banking and Open Finance in Europe?” panel discussion, attendees will get to learn how regulators are creating competition between payments methods in Europe, how open finance will unlock opportunities outside of core banking, discover whether Europe’s ambition to be the global trailblazer for open finance will be realized, and what could give this ambition teeth.
Attendees will get to hear updates from the European Commission on related policy programs, and hear firsthand how its stance on the future of open banking and finance with the bloc aligns (or diverges) from that of industry associations and market players.
Speakers:

Charles Damen, Chief Product Officer, Token.io
Eric Ducoulombier, Head of Retail and Payments, European Commission’s Department of Financial Stability and Capital Markets (DG FISMA)
Gijs Boudewijn, General Manager, Dutch Payments Association

Moderator:

Nilixa Devlukia, Chair, Open Finance Association

3 Signs You’re Greenwashing (and Everybody Knows It)
When: Tuesday June 06, 15:55 – 16:15 (20min)
Where: Outer Limits, RAI
In the wake of the ESG revolution, it’s essential for businesses to act responsibly and avoid greenwashing. Fintech companies, eager to embrace sustainability, have sometimes blurred the lines between genuine intentions and marketing tactics.
The “3 Signs You’re Greenwashing (and Everybody Knows It)” panel discussion will feature experts from Mambu, Bloom Money, and EQT Group, who will shed light on spotting greenwashing, the significance of small wins in ESG, and whether the industry can truly deliver on ethical practices and sustainable investments.
Speakers:

Fernando Zandona, Interim CEO, Mambu
Nina Mohanty, CEO &amp; Co-Founder, Bloom Money
Carolina Brochado, Partner and Deputy Head of EQT Growth Advisory Team, EQT Group

From Winter to Spring: Restoring Customer Confidence in Crypto
When: Wednesday June 07, 10:05 – 10:25 (20min)
Where: Elements, RAI
Crypto may have faced its challenges, but it’s far from dead. This engaging debate will delve into the path forward for crypto and explore the crucial steps needed to restore public confidence.
During the “From Winter to Spring: Restoring Customer Confidence in Crypto” session, industry experts will present competing visions for the future of crypto while addressing the major obstacles hindering widespread adoption. Drawing from the lessons learned during the crypto winter, attendees will get to examine how these experiences can inspire a brighter future for crypto users and investors.
Speakers:

Jean-Baptiste Graftieaux, Global CEO, Bitstamp
Sergej Kunz, Co-Founder, 1inch Network
Gina Ordonez Pari, Head of LatAm, Zimpler

Moderator:

Anna Irrera, Senior Editor, Crypto, Bloomberg

Harnessing the Hype: ABN AMRO and Citi on How Generative AI is Revolutionizing Financial Services
When: Wednesday June 07, 11:05 – 11:25 (20min)
Where: Encore, RAI
Generative AI has the power to revolutionize the financial services industry, providing unprecedented insights, streamlining processes, and enhancing decision-making capabilities. In this session, experts from Citi, ABN AMRO Bank N.V. and Bain &amp; Company will come together to explore the opportunities and challenges presented by generative AI in financial services.
The “Harnessing the Hype: ABN AMRO and Citi on How Generative AI is Revolutionizing Financial Services” panel will delve into various aspects, including the different types of generative models being utilized, the advantages and limitations of generative AI, ethical considerations, and practical applications in risk management, fraud detection, and customer service.
By attending this session, participants will gain valuable knowledge about how generative AI is shaping the future of finance and the key considerations for successful implementation in their organizations.
Speakers:

Emily Turner, Citi Institutional Clients Group, Citi
Annerie Vreugdenhil, Chief Commercial Officer Personal &amp; Business Banking, Member of the Executive Board, ABN AMRO Bank N.V.

Moderator:

Jeff Tijssen, Global Head of Fintech, Bain &amp; Company

Beyond Commodity in Open Finance: The Ecosystem Approach
When: Wednesday June 07, 11:40 – 12:05 (25min)
Where: Fusion Stage, RAI
With open finance innovation on the rise, financial institutions are evaluating how to embrace this opportunity to augment their business models and acquire new customers. A recent survey from Celent revealed that 23% of executives think taking an ecosystem approach to growth is their most urgent priority in 2023.
In the “Beyond Commodity in Open Finance: The Ecosystem Approach” session, the panel will highlight the evolution we’ve seen to date in open finance and will share their experiences in leveraging partnerships within and outside the industry to enable more compelling and contextualized financial services to a larger share of consumers.
Speakers:

Tasha Chouhan, UK &amp; IE Banking Director, Tink
Kelvin Tan, Global Head of SC nexus, Standard Chartered; CEO audax, Standard Chartered Bank; audax financial technology
Chloé Mayenobe, COO, Solaris

Moderator:

Charith Mendis, Head of Banking, Amazon Web Services (AWS)

Business and Finance in Lockstep
When: Wednesday June 07, 12:40 – 13:20 (40min)
Where: Fusion Stage, RAI
During the “Business and Finance in Lockstep” panel discussion, top executives from Payoneer, J.P. Morgan, Paysafe and SJK Insights will share their secrets to a successful collaboration and show how they blend finance and technology to make strategic decisions.
Audience members will leave with practical steps to closely align their business and finance teams, whether that’s two people or twenty-two, as well as best-in-class examples from a firm reaping the benefits.
Speakers:

Jody Perla, Managing Director, Global Banking &amp; Payment Infrastructure, Payoneer
Priyanka Rath, Head of Global Liquidity and Account Solutions specialists, J.P. Morgan
Steven Delpy, Chief Banking Officer, Paysafe

Moderator:

Sarah Kocianski, Fintech Consultant and Advisor, SJK Insights

Banks Can’t Have It All: Embedded Finance vs Embedded Fintech
When: Wednesday June 07, 13:35 – 14:05 (30min)
Where: Fusion Stage, RAI
Embedded finance, the integration of financial services into the customer journeys of non-financial businesses, has gathered pace. Such is this pace that non-traditional financial services providers are becoming a threat to banks when it comes to market share.
Banks have a choice: they can either fight fire with fire and capitalize on the new distribution channels that embedded finance offers, or they can replicate the approach by embedding fintech products into their own digital banking platforms. However, banks can’t choose both.
The “Banks Can’t Have It All: Embedded Finance vs Embedded Fintech” session, featuring business leaders from FintechOS, OpenPayd and Societe Generale, will discuss these emerging trends and dive into ways traditional banking institutions can address this changing landscape.
Speakers:

Teo Blidarus, CEO &amp; Co-Founder, FintechOS
Iana Dimitrova, CEO, OpenPayd
Claire Calmejane, Group Chief Innovation Officer, Societe Generale

Moderator:

Elizabeth Lumley, Deputy Editor, The Banker

Pay by Bank: A World Without Cards
When: Wednesday June 07, 14:05 – 14:30 (25min)
Where: Fusion Stage, RAI
In the “Pay by Bank: A World Without Cards” session, a panel of industry innovators will discuss their push for better payments, touching on topics including the new model payments networks, banks premium APIs and commercial variable recurring payments (VRPs).
Attendees will get to learn how account-to-account (A2A) payments are set to benefit the entire value chain, how open banking rails are the key to creating smarter, safer and faster payment experiences, and how, in a future far nearer than we might first think, we’ll all be paying (and getting paid) by bank globally.
Speakers:

Francesco Simoneschi, CEO &amp; Co-Founder, TrueLayer
Megan Bramlette, Director, North America &amp; EU Payment Acceptance, Amazon
Mark Brant, Chief Payments Officer, NatWest Group

Moderator:

Henk Van Hulle, CEO, Open Banking Implementation Entity

Trade Networks 2.0: Where Transparency and Data Privacy Work Together
When: Wednesday June 07, 14:35 – 15:00 (25min)
Where: Elements, RAI
The vulnerabilities of global trade were laid bare in the wake of the COVID-19 pandemic, making it clearer than ever that it’s past time to digitize the logistics networks.
The “Trade Networks 2.0: Where Transparency and Data Privacy Work Together” session will be a deep dive into the Global Shipping Business Network (GSBN) and what’s driving its success as a second generation trade network.
In the session, top experts from GSBN and the Hyperledger Foundation will cover the evolution of distributed ledger and related technologies (DLTs), as well as new models for governing trade networks that deliver on the promise of decentralization, delivering scale, efficiency, reliability, cost savings and more.
Speakers:

Daniela Barbosa, Executive Director, Hyperledger Foundation, and General Manager Blockchain and Identity at the Linux Foundation, Hyperledger Foundation, part of the Linux Foundation
Edmund To, Chief Technology Officer, Global Shipping Business Network (GSBN)

Moderator:

Ryan Rugg, Head of Digital Assets, TTS, Citi

Fully Regulated Tokenization of Real World Assets: Germany
When: Wednesday June 07, 15:20 – 15:50 (30min)
Where: Fusion Stage, RAI
Whether BCG, BlackRock or J.P. Morgan, the big banks are intensively exploring DLT as a new infrastructure to issue and settle securities in a fully digital and efficient way. While many financial institutions and central banks are piloting tokenized securities, most are shying away from investing heavily in the infrastructure due to the absence of regulation.
With the new Electronic Securities Act 2021 (eWpG), German regulators are driving the adoption of blockchain in the financial ecosystem.
In the “Fully Regulated Tokenization of Real World Assets: Germany” session, attendees will get to hear on live case studies, benefits and use cases of a DLT-based capital market infrastructure for financial institutions, understand why banks are adopting this new approach and what is waiting around the corner.
Speakers:

Michael Duttlinger, CEO, Cashlink
Dr. Florian Toncar, Parliamentary State Secretary at the Federal Ministry of Finance, Federal Ministry of Finance
Patrick Marquardt, Managing Director, LAIQON Token GmbH (formerly Lloyd Token GmbH)

Moderator:

Dr. Anika Patz, Associated Partner, YPOG

Fintech In Africa: Scaling for Impact and Driving Economic Growth
When: Wednesday June 07, 15:23 – 15:48 (25min)
Where: Money-Bot, RAI
Africa’s fintech ecosystem has emerged as a bright spot of growth in recent years. The continent is home to thousands of fintech startups transforming financial services across the entire value chain.
In the “Fintech In Africa: Scaling for Impact and Driving Economic Growth” session, experts from Flutterwave, one of the innovators at the forefront of Africa’s fintech transformation, and McKinsey &amp; Company will discuss what the future holds for the fledgling ecosystem and explore how emerging technologies are being leveraged by innovative entrepreneurs to tackle the continent’s most pressing challenges.
Speakers:

Mayowa Kuyoro, Partner, Leader of Africa Fintech, McKinsey &amp; Company
Olugbenga Agboola, CEO, Flutterwave

Generative AI within Fintech &amp; Financial Services
When: Wednesday June 07, 15:37 – 15:57 (20min)
Where: The Summits, RAI
ChatGPT is the “iPhone moment of AI,” but what does it mean for banking and fintech? Some are racing to integrate generative AI across every function of a bank from asset management to fraud detection and customer service.
During the “Generative AI within Fintech &amp; Financial Services” panel discussion, leaders at BBVA, Swift, ING and NVIDIA will explore how banks and fintech companies evaluate generative AI, which applications they embed with AI first, and why waiting to invest is not an option.
Speakers:

Chalapathy Neti, Head AI CoE, Swift
Mariana Gomez de la Villa, Innovation Lead, ING
Jon Ander Beracoechea Alava, Advanced Analytics Discipline Head, BBVA

Moderator:

Malcolm DeMayo, Global VP, Financial Services, NVIDIA

Power to the People: The Next Era for Wealthtech
When: Wednesday June 07, 16:05 – 16:30 (25min)
Where: Elements, RAI
As the world deepens into recession, financial futures of the common person are more precarious and feel more out of control. Wealthtech and embedded finance can truly make a positive impact, if only the opportunity is realized.
In the “Power to the People: The Next Era for Wealthtech” panel, leading minds in wealthtech will discuss ways to improve access to relevant saving and investment tools and close the gender gaps. Experts will also look at consumer trust in new brands, and what this means for the banks and institutions that have dominated wealth and personal finance.
Speakers:

Victor Trokoudes, CEO &amp; Co-Founder, Plum
Ruth Handcock, CEO, Octopus Investments
Mary Agbesanwa, Fintech Growth Lead, Seccl

Moderator:

Tamara Kostova, CEO, Velexa

What’s Sharia Got to Do With It? New Banking Solutions for an Evolving Muslim World
When: Wednesday June 07, 16:20 – 16:45 (25min)
Where: Money-Bot, RAI
Islam is one of fastest growing major religions in Europe with the continent home to more than 40 million Muslims. Yet, Muslims remain an underserved community on the continent.
From halal investment products to sharia-compliant banking solutions, the “What’s Sharia Got to Do With It? New Banking Solutions for an Evolving Muslim World” session will explore why it’s critical for banks and fintech companies to understand the unique needs of Muslims.
From fintech startups to established financial institutions, this session is a must-attend for anyone interested in understanding how to engage in the growing Islamic finance market and build a more inclusive financial system.
Speakers:

Omar Saleh, Founder &amp; CEO, Khazna
Dima Djani, Founder &amp; CEO, Hijra Bank

Moderator:

Monica Brand Engel, Co-founder and Managing Partner, Quona Capital

The Evolution of Identity
When: Thursday June 08, 10:00 – 10:25 (25min)
Where: Money-Bot, RAI
For the global economy to thrive and achieve full market potential, businesses including banks, financial institutions and online commerce organizations need access to critical infrastructure including effective credit bureaus, alternate data and standardized personal identification data.
In “The Evolution of Identity” session, experts in risk, digital transformation, alternate data and cybersecurity at Monnai, Crypto.com, Money20/20 and Vesey Ventures will discuss how financial services can be truly global and grow while managing increasing risk and fraud, new regulations and compliance, lack of data and evolving innovation and customer expectations.
Speakers:

Pierre Demarche, Co-Founder/CEO, Monnai
Abhi Bisarya, Global Head of Product, Crypto.com
Sanjib Kalita, Wizard, Money20/20
Dana Eli-Lorch, Co-Founder &amp; General Partner, Vesey Ventures

Preventing the Existential Risk in Fintech: Fraud
When: Thursday June 08, 10:27 – 10:55 (28min)
Where: Money-Bot, RAI
Financial fraud is rapidly increasing, particularly in Europe. For fintech companies, fraud poses not only the risk of losing customer trust but also the potential to erode trust from industry partners.
In the “Preventing the Existential Risk in Fintech: Fraud” session, a panel of industry experts representing Alloy, ComplyAdvantage and Onfido will delve into how they are enabling fintech companies to find a delicate balance between fostering growth, maintaining industry partnerships, and ensuring compliance, even in the face of rising global fraud.
Speakers:

Laura Spiekerman, President and Co-founder, Alloy
Vatsa Narasimha, Chief Executive Officer, ComplyAdvantage

Moderator:

Yuelin Li, Chief Strategy Officer, Onfido

Opportunity for All: Making the Most of VC Funding
When: Thursday June 08, 10:40 – 11:10 (30min)
Where: Elements, RAI
Being funded is something any business should celebrate and is a testament to belief in an enterprise and a ticket for future growth. But the path of investment is littered with founders who have spent too quickly, or unwisely, along with those who simply were unable to secure funding at all.
In the “Opportunity for All: Making the Most of VC Funding” session, four well-known venture capitalists (VCs) representing Northzone, Andreessen Horowitz (a16z), Generation Investment Management and AlbionVC will come together to offer their advice, expertise, and share tips to help startups make the most of any potential funding, alongside what not to do.
Speakers:

Sanjot Malhi, Partner, Northzone
Seema Amble, Partner, a16z
Lucia Rigo, Partner, Growth Equity, Generation Investment Management

Moderator:

Ed Lascelles, Partner, AlbionVC

Meet the Three Pillars of Disruption: AI, Open Banking and Instant Payments
When: Thursday June 08, 10:45 – 11:10 (25min)
Where: Fusion Stage, RAI
For an update on key trends disrupting current operational models and processes, the “Meet the Three Pillars of Disruption: AI, Open Banking and Instant Payments” panel will examine how ecosystem participants, including banks, fintech companies, market infrastructures, clients, and regulators, are evolving to deliver them.
Speakers:

Fabian Khoshbakht, Global Head of Client Insight &amp; Innovation, BNY Mellon
Nico Strauss, Tribe Lead B2B Services, Rabobank
Khun Budsakorn Teerapunyachai, Senior Director, Payment Systems and Financial Technology Policy Department, Bank of Thailand

Moderator:

Livia Benisty, Chief Business Officer, Banking Circle

All About the BaaS: Shaping a New Governance Model
When: Thursday June 08, 11:15 – 11:40 (25min)
Where: Fusion Stage, RAI
While banking-as-a-service (BaaS) is a boon for many providers who can outsource the technology and licenses to a third party, there are question marks around governance, compliance and controls. Regulators around the world are desperately keen to avoid another Wirecard-like catastrophe where the adoption of fintech didn’t keep up with governance.
So what needs to change to ensure the industry doesn’t sleepwalk into Wirecard 2.0? The answer is a new model for BaaS that integrates governance across the value chain to ensure there is full transparency at a data level from the bank to the end customer.
The “All About the BaaS: Shaping a New Governance Model” session will outline a new model for BaaS, one that provides full data transparency, and discuss the role each of the parties must play in getting BaaS governance right.
Speakers:

Emma Hagan, Chief Risk and Compliance Officer, ClearBank
Lynda Strutton, Chief Operating Officer, Tribe Payments
Dr. Verena Thaler, Chief of Staff / Vice President Strategy, Raisin

Moderator:

Sarah Kocianski, Fintech Consultant and Advisor, SJK Insights

Does the Regulation Equation Equal Innovation?
When: Thursday June 08, 12:45 – 13:25 (40min)
Where: Fusion Stage, RAI
The opportunities of ever-evolving business models come hand in hand with ever-evolving regulation. With a slow economic outlook dominating the news cycle, businesses are developing strategies to adapt and overcome and looking to their partners to help carve a compliant path to success.
Fintech companies and their partners will need to utilize all the information at their disposal as they navigate stormy waters. In the “Does the Regulation Equation Equal Innovation?” session, experts from the Euro Banking Association, J.P. Morgan, Revolut, and 1inch Network will evaluate the changing regulatory landscape, how the industry can come together to influence upcoming changes, and the anticipated impacts on businesses as we look to 2024.
Speakers:

Daniel Szmukler, Director / Head of Innovation, Euro Banking Association
Ludovic Houri, Co-head of EMEA Payments &amp; Commerce Solutions, J.P. Morgan
Adam Gagen, Global Head of Government Affairs, Revolut
Valeriya Minaeva, Partnerships &amp; Comms, 1inch Network

The Disney of Money: Raising the Next Generation of Financially Savvy Kids
When: Thursday June 08, 13:00 – 13:20 (20min)
Where: Money-Bot, RAI
In the “The Disney of Money: Raising the Next Generation of Financially Savvy Kids” session, attendees will get to hear from three tech company founders that straddle the divide between fintech and edtech, and learn how being mission-driven enables three different brands to seamlessly operate under one company umbrella.
The discussion will dive into the responsibility of financial services companies to educate at the moment of decision-making, starting at birth.
Speakers:

Louise Hill, Co-founder and COO, GoHenry
Benoit Grassin, Co-founder &amp; CEO, Pixpay
David Hijirida, President, Acorns

DORA: The Biggest Change in Payments No-One is Talking About
When: Thursday June 08, 14:30 – 14:55 (25min)
Where: Elements, RAI
The European Union (EU)’s Digital Operational Resilience Act (DORA) aims to mitigate systemic digital operational risk in an increasingly digitally connected EU financial services market. This new regulation is important because almost every type of financial institution across the EU will be required to ensure their suppliers and their suppliers’ security controls meet resilience standards.
The “DORA: The Biggest Change in Payments No-One is Talking About” session will cover how the regulation will accelerate cloud and third-party services adoption, and how concentration risk management is now both a system level and firm-level effort. The session will also look at how enhancements in service offerings result in fewer opportunities to restore operations in the event of a cyberattack. Also, the panel will consider the systemic risk of firms underinvesting in their own resilience, and how failures at a single bank could cause an avalanche of problems for others.
Speakers:
Abdellah Ben Hammou, Product Director, Klarna
Jessica Ramos, Head of Regulatory &amp; Financial Affairs, EBA CLEARING
Moderator:

Jolanda Schekermans, Head of Product, API Experience, Form3

Have You Heard of the Metaverse?
When: Thursday June 08, 14:35 – 15:00 (25min)
Where: Fusion Stage, RAI
In this session, attendees will get to hear more on current actionable strategies for creating and governing the metaverse, alongside a dollop of realism to hopefully answer the tongue-in-cheek question: have you heard of the metaverse?
Speakers:

Cathy Mulligan, Sustainable Digital Economy Researcher, World Economic Forum
Sulabh Agarwal, Managing Director, Global Head of Payments, Accenture

Moderator:

Dr. Ruth Wandhöfer, Chief Curiosity Officer, Author, Speaker, Adviser &amp; Educator

]]></description><link>https://fintechnews.eu/30-must-attend-sessions-at-money2020-europe-2023</link><guid>3228</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>30 Must-Attend Sessions at Money20/20 Europe 2023</dc:text></item><item><title>Account-to-Account Transactions Soar Globally Amid Merchant Adoption and Real-Time Payment Push</title><description><![CDATA[Account-to-account (A2A) payments are taking off around the world, driven by booming adoption of the payment method by businesses and payment infrastructure modernization efforts from governments, a report by fintech solution provider FIS says.
The 2023 Worldpay from FIS Global Payments Report, released in March, shares the latest trends observed in consumer payment behaviors and preferences for in-store and online purchases, highlighting this year the rise of A2A payments amid new innovations and advancements in real-time payments.
According to the report, there were 64 live real-time payment schemes globally in 2022, up from 60 the prior year. These schemes are providing high-speed payment rails and are enabling new use cases which are driving A2A payment growth.




   



    
   


   








In Brazil, the popularity of real-time payment scheme Pix doubled A2A’s share of e-commerce transaction value in just one year between 2021 and 2022. In India, the dramatic success of the Unified Payments Interface (UPI) derives largely from the platform’s seamless interoperability with commercial wallets including Paytm, PhonePe and Google Pay. And in Thailand, real-time proxy payment service PromptPay is enabling a steady stream of innovation, including payment by corporate identification proxy, QR retail payments and request-to-pay functionality.
A2A payments, which refers to payments made directly from one account to another, has long been a popular payment method for business-to-business (B2B) and person-to-person (P2P) use cases, but they are now entering the P2B realm, the report says.
Merchants are increasingly adopting the payment method, drawn by its safety, speed and lower costs. A2A payments reduce the cost of payment acceptance versus cards since transactions are not intermediated by major card network. They also offer instant settlement of funds, enabling thus improved cash flow for merchants.
In 2022, A2A transactions accounted for US$525 billion in global e-commerce transaction value, a sum that represents a 13% increase from US$463 billion in 2021. Through 2026, A2A e-commerce payments are projected to grow at a 13% compound annual growth rate (CAGR).
Emerging markets will continue the lead the movement, with A2A payments expected to make up for 45%, 35% and 28% of e-commerce transaction value in Thailand, Brazil and Peru, respectively, by 2026.
Share of A2A payments in e-commerce transaction value, 2021-2026, Source: 2023 Worldpay from FIS Global Payments Report, March 2023
BNPL enters next phase of evolution
After a dramatic growth phase from 2018 to 2021, the buy now pay later (BNPL) market is now entering its new phase of evolution, a so-called “BNPL 2.0” era which will be characterized by a number of trends, the report says.
First, a new class of BNPL providers comprising merchants, bigtechs, banks, card networks and super apps will emerge. Next, new regulations will be introduced, bringing BNPL more in line with legacy consumer lending products. More repayment terms will also be introduced, going beyond the “pay in 4” or “pay in 6” to include longer terms as well as revolving accounts. Finally, BNPL will be offered in a broader range of verticals and for goods and services at a wider variety of price points.
With more than 200 global providers now offering BNPL arrangements, the crowded sector is also projected to see some market consolidation, a trend that has already started emerging.
A 2022 analysis by Flagship Advisory Partners, a strategy consultancy and mergers and acquisitions (M&amp;A) advisory firm focused on payments and fintech, shows that BNPL M&amp;A started accelerating in 2019.
So far, M&amp;A activity has largely focused on consolidation by well-funded players including Klarna, Zip, Affirm and Afterpay, the report says. As of February 2023, Klarna had made 14 acquisitions, purchasing Israeli risk and fraud management firm Analyzd in 2011, online banking service Sofort in 2013, and German payment company BillPay in 2017, among others. Affirm, meanwhile, had made four acquisitions, namely LendLayer, a startup that provides lending for accelerated learning programs; Returnly, a provider of digital return experiences for direct-to-consumer brands; Sweep, a budgeting app; and Paybright, a Canadian BNPL provider.
BNPL consolidation via M&amp;A and BNPL funding amounts, Source: Flagship Advisory Partners, February 2022
The BNPL sector has faced increased regulatory scrutiny, interest rate pressure and intense competition this past year. But despite the headwinds, the sector stayed resilient in 2022 and remained a popular payment method among customers.
In 2022, BNPL accounted for 5% of global e-commerce spend, with Germany amongst the biggest adopters (23%), followed by Australia (14%) and the Netherlands (13%). Moving forward, the report expects BNPL’s global e-commerce value to grow at a 16% CAGR from 2022 to 2026 to reach a share of 6%.
Share of BNPL in e-commerce transaction value 2018-2026, Source: 2023 Worldpay from FIS Global Payments Report, March 2023
Global e-commerce growth remained robust last year, rising 10% from 2021. All regions, except Europe, recorded double-digit growth with a high of 21% of the Middle East and Africa.
Asia-Pacific led the world, accounting for half (US$3 trillion) of the world’s e-commerce transaction value (US$6 trillion) in 2022.
Global e-commerce transaction value is projected to grow 9% CAGR through 2026 to reach US$8.5 trillion.
Global e-commerce transaction value 2018-2026, US$ billions, Source: 2023 Worldpay from FIS Global Payments Report, March 2023

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/account-to-account-transactions-soar-globally-amid-merchant-adoption-and-real-time-payment-push</link><guid>3229</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Account-to-Account Transactions Soar Globally Amid Merchant Adoption and Real-Time Payment Push</dc:text></item><item><title>Paytech Giant Diebold Nixdorf Plans Chapter 11 with Debt Restructuring Agreement</title><description><![CDATA[In a significant move towards financial consolidation, payments technology leader Diebold Nixdorf  has declared that it has signed a restructuring agreement with key financial stakeholders. The objective of this strategic decision is to facilitate a comprehensive debt restructuring process, aiming for a speedy and efficient resolution.
In accordance with the agreement, creditors will back restructuring transactions leading to the discharge of a substantial portion of the funded debt held by Diebold Nixdorf and some of its subsidiaries. The company’s existing common shares will be annulled as a part of these transactions.
The restructuring is designed to drastically diminish debt and leverage levels, providing significant additional liquidity to “support seamless ongoing operations and establish a long-term, sustainable capital structure for the payments technology giant”. Throughout this process, Diebold Nixdorf has pledged to continue regular payments to vendors and suppliers.




   



    
   


   








The aforementioned agreement includes creditors who possess a considerable majority of Diebold Nixdorf’s outstanding secured term loan debt and secured notes. These creditors hold approximately 80.4% of the company’s superiority credit facility, around 79% of its first lien term loan, approximately 78% of the first lien notes, and nearly 58.3% of the second lien notes.
Octavio Marquez
Octavio Marquez, Diebold Nixdorf chairman, president and chief executive officer, said:
“Our company is focused on continuing our solid operational performance and delivering best-in-class products and services to banks and retailers around the world. With the support of our creditors, we have reached an agreement to restructure and strengthen our balance sheet, enhance liquidity and position Diebold Nixdorf for long-term success.
Our strengthened financial position also enables us to better serve our customers, employees, suppliers and partners. I am excited about the future of Diebold Nixdorf and all we will accomplish.”
The plan involves leveraging a pre-packaged chapter 11 reorganisation plan, to be filed by Diebold Nixdorf and some of its subsidiaries under the US Bankruptcy Code. Diebold Nixdorf’s Dutch subsidiary, Diebold Nixdorf Dutch Holding B.V., is expected to file a scheme of arrangement under the Dutch Act on Confirmation of Extrajudicial Plans. Any such voluntary scheme will be recognised under chapter 15 of the US Bankruptcy Code, should a case be pursued.
As a part of the agreement, the debtors are set to seek approval for a US$1.25 billion debtor-in-possession (DIP) term loan credit facility during the chapter 11 cases. The DIP facility proceeds are allocated for repaying existing obligations, settling costs associated with the restructuring proceedings, and funding working capital needs during the process. First lien term loan or first lien note holders who become lenders under the DIP facility and sign the agreement before the set deadline, will be eligible for a participation premium.
Although the restructuring transactions are contingent upon certain conditions and the finalisation of further definitive agreements, Diebold Nixdorf hopes to complete the process by the third quarter of 2023. Upon completion, the common shares of the restructured company are expected to be listed on the New York Stock Exchange.
Featured image credit: Octavio Marquez, Diebold Nixdorf chairman, president and chief executive officer . Background image edited from Freepik.
]]></description><link>https://fintechnews.eu/paytech-giant-diebold-nixdorf-plans-chapter-11-with-debt-restructuring-agreement</link><guid>3227</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Paytech Giant Diebold Nixdorf Plans Chapter 11 with Debt Restructuring Agreement</dc:text></item><item><title>BPC Partners With Ellipse to Boost Payment Transaction Security</title><description><![CDATA[Swiss payment solution provider BPC announced that it has expanded its partnership with U.S.-based fintech company Ellipse World.
The partnership will focus on bolstering security measures and privacy for customers by integrating EVC® (Ellipse Verification Code), Ellipse’s dynamic card security code/CVV/CVC technology into BPC’s SmartVista platform to provide EVC processing services.
Traditionally, payment cards heavily relied on a fixed security code (static CVV/CVC) for transaction verification or authentication.




   



    
   


   








However, through the integration of Ellipse’s EVC technology into SmartVista, BPC’s global clientele may now experience an upgrade to their card portfolio.
Vasily Grigoriev
Vasily Grigoriev, Managing Director of Global SaaS at BPC said,
“We are excited to partner with Ellipse to enable our clients to deploy cutting edge payments technology. BPC is committed to supporting innovative fraud prevention solutions, ensuring that our consumers are able to leverage the right security solutions.

Having Ellipse’ dynamic CVV technology together with our established Fraud Prevention service we are about to achieve an unprecedented level of cards security on behalf of our customers.”
Cyril Lalo
Cyril Lalo, Founder and CEO of Ellipse said,
“Through leveraging and integrating existing EMV rails, we have developed a unique method to reducing financial fraud associated with e-commerce and card-not-present transactions.

Through our partnership with BPC, we are empowering a greater number of financial institutions, businesses, and consumers to enhance their e-commerce journey with peace of mind and serenity.”


Featured image credit: Background image edited from ellipse.
]]></description><link>https://fintechnews.eu/bpc-partners-with-ellipse-to-boost-payment-transaction-security</link><guid>3226</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>BPC Partners With Ellipse to Boost Payment Transaction Security</dc:text></item><item><title>Application of DLT in Capital Markets Could Help Save Billions of Dollars in Operational Costs</title><description><![CDATA[Distributed ledger technology (DLT) has the potential to deliver transformative benefits for capital markets, helping deliver billions of dollars in cost savings through improved operational efficiency, broader market access and opportunities for value creation, a new report by the Global Financial Markets Association (GFMA) together with Boston Consulting Group (BCG), Clifford Chance and Cravath, Swaine and Moore, says.
The paper, titled The Impact of Distributed Ledger Technology in Global Capital Markets, looks at the opportunities and risks of DLT and DLT-based securities, sharing estimates on the potential cost savings and value creation opportunities brought about the technology in the sector.
Findings from the research show that DLT has the potential to significantly reduce costs, helping save an estimated ~US$15-20 billion in annual global infrastructure operational expenditures. This cost reduction comes from the technology’s ability to streamline and automate various processes and reduce the need for intermediaries and human intervention.




   



    
   


   








Smart contracts, or programs stored in a blockchain, can automatically execute predefined actions when specific conditions are met, eliminating the need for manual verification and reducing settlement time.
Enhance Market Liquidity
DLT can also enhance overall market liquidity and market access for people and organizations that have traditionally faced barriers to entry. By leveraging DLT, the tokenization of assets becomes possible, allowing fractional ownership and enabling investors to participate in previously illiquid markets, such as real estate, unlisted equities and commodities.
According to the research, the market growth prospects for DLT-based securities are considerable. The stock of DLT-based securities stood at about US$310 billion as of 2022, comprising a combination of listed and unlisted equity, bonds and other financial assets. This value is projected to soar to US$16 trillion by 2030, representing a 63% compound annual growth rate (CAGR).
Growth will be mainly driven by rising demand for DLT-based securities and growing interest in digital assets. A survey of global institutional investors conducted in 2022 by BNY Mellon and Celent found that 53% of respondents had already invested in tokenized securities or were exploring this emerging form of assets. 41% said they owned cryptocurrencies.
An overwhelming majority (91%) of respondents expressed interest in tokenized products, confident that tokenization will “revolutionize asset management” (97%). Respondents cited the removal of friction from transfer of value (84%) and increased access for mass affluent and retail investors (86%) among the top benefits of tokenization.
Respondents also shared plans to increase their investment in the space, indicating that they would increase portfolio allocations to all major types of digital assets within the next two to five years.
Interest from institutional investors in digital assets and allocation, Source: 2022 Survey of Global Institutional Clients, BNY Mellon and Celent, 2022
Market participants have been exploring DLT for several years. As of December 2022, about 85% of members the GFMA trade group had a DLT use case either at pilot stage or in production, the report says, while others had already deployed their DLT-based solutions and platforms to the market.
HQLAx, for example, is a fintech company based in Luxembourg that specializes in liquidity management and collateral management solutions for institutional clients.
Leverage DLT
The company’s platform leverages R3’s DLT to facilitate large scale and cost efficient collateral transfers across the global financial ecosystem by providing improved collateral fluidity with an operating model that allows for transferring of title and which does not require securities to be moved across central securities depositories (CSDs).
JP Morgan provides an application called Digital Financing that makes use of the bank’s Onyx Digital Assets DLT platform and tokenization to enable true delivery-vs-payment (DvP) settlement for repurchase agreements. The platform enables the real-time simultaneous transfer of tokenized cash and collateral, reducing settlement risk and timeline.
Despite clear interest in DLT for use cases in capital markets, the report notes that adoption has been relatively slow in the industry with DLT-based issuances remaining so far largely experimental.
This slow uptake is due to several challenges relating notably to regulatory ambiguity, technological challenges and competing tech priorities, findings from a survey of GFMA members found. Respondents also raised concerns about limited investment and a lack of overall demand.
Barriers to adoption cited by survey respondents, Source: The Impact of Distributed Ledger Technology in Global Capital Markets, Global Financial Markets Association (GFMA), 2023
The report expects the market to end its experimentation phase within the next three years and move into commercialization. In this next phase, demand from issuers and investors will scale, regulatory ambiguity will be solved and DLT-based platforms will become increasingly interoperable, the report says.
The last phase of development, which is expected to take place from 2028 onwards, will be marked by the predominance of DLT-based primary and secondary markets for specific asset classes and transaction types, harmonized legal and regulatory frameworks across jurisdictions, and interoperability across platforms, the report says.
Possible future developments of a DLT ecosystem, Source: The Impact of Distributed Ledger Technology in Global Capital Markets, BCG, Global Financial Markets Association (GFMA), 2023


Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/application-of-dlt-in-capital-markets-could-help-save-billions-of-dollars-in-operational-costs</link><guid>3225</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Application of DLT in Capital Markets Could Help Save Billions of Dollars in Operational Costs</dc:text></item><item><title>Mastercard Invests into Italian Embedded Finance Fintech Fabrick</title><description><![CDATA[Mastercard and Open Finance sector pioneer Fabrick announced an expanded new partnership to develop Embedded Finance solutions that will improve the digitalization of businesses, financial institutions and fintechs across Europe.
As part of the agreement, Mastercard has made a minority investment in Fabrick – it has acquired a minority stake in Fabrick in a €40 million raise in which Mastercard and others joined the shareholding structure.
Part of the resources were raised through a capital increase, with which Mastercard and others joined the shareholding structure with minority stakes. The resources will be used to support the consolidation process in Italy, investments in products and services, infrastructure scale-up and expansion into other European markets. As an example of expansion Fabrick just acquired UK leading payments platform Judopay.




   



    
   


   








Today’s announcement builds on the ongoing relationship between the two companies who have been working together since 2019 to promote innovation on the development of digital financial services for the commercial ecosystem.
Embedded Finance enables companies from any sector to integrate financial services directly into their products via API implementation, giving every business the opportunity to provide payment, banking and insurance services without the need to build a proprietary financial infrastructure themselves.
To date, over 400 counterparties are connected to the Fabrick platform, generating over 330 mln API calls per month.
Paolo Zaccardi, CEO and Co-founder of Fabrick:
Paolo Zaccardi
“Being able to count on the collaboration of a partner of the caliber of Mastercard with a new level of commitment will allow us to strengthen our international presence and open a new phase of growth and evolution. We have already made payments a core asset of our platform, but today with even greater intensity we will be able to define a new and even more complete offer deriving from the coming together of our respective strengths, to grow faster thanks to new resources and know-how, with the aim of establishing ourselves in other European countries as a benchmark in Open and Embedded Finance, which is already registering an extraordinary response from corporates, but which we are certain is only the tip of the iceberg of the infinite possibilities it enables”.
Michele Centemero, Country Manager Italy Mastercard:
Michele Centemero
“We are glad to reinforce our collaboration with Fabrick, and value their great vision and model to face, govern and design the evolution of embedded finance, we think will be a big driver for development of digitization in the next years. Our work with Fabrick and the digital financial services we will develop together, will support our collective goal to offer digital payment solutions to businesses and to deliver a seamless experience for their customers in a time of need.”



Featured image credit: Paolo Zaccardi, CEO and Co-founder of Fabrick &amp; Michele Centemero, Country Manager Italy Mastercard. Background image edited from Freepik.
]]></description><link>https://fintechnews.eu/mastercard-invests-into-italian-embedded-finance-fintech-fabrick</link><guid>3224</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Mastercard Invests into Italian Embedded Finance Fintech Fabrick</dc:text></item><item><title>Swiss Banks Unlikely to Migrate to Blockchain, DLT Systems, Says SNB Advisor</title><description><![CDATA[While some banks have started experimenting with blockchain and distributed ledger technology (DLT), widespread migration to these systems are unlikely to occur due to a number of roadblocks, including regulatory and compliance challenges, the high costs of the endeavor, as well as uncertainties about the long-term benefits and potential disruption of the technology on existing business models, Benjamin Müller, an advisor on banking operations for the Swiss National Bank (SNB), said during an industry event last month.
At the Digital Monetary Institute symposium, held on May 10 and 11 in London, Müller took part in a panel discussion that brought together top executives representing Banque de France, Goldman Sachs, Clifford Change and SNB. The panel discussed asset tokenization, the opportunities brought about blockchain in capital markets, and central bank digital currency (CBDC) initiatives being undertaken by monetary authorities.
Digital Monetary Institute symposium
During the panel, Müller said that while asset tokenization offered many benefits, including speed and transparency, widespread adoption will be challenging. “We will not see a big bang migration into blockchain and DLT,” he said.




   



    
   


   








“I think this is not realistic and not good practice for regulated financial institutions.”
Instead, Müller predicts an “evolution” where two parallel systems could be running at the same time. That, however, will be a costly endeavor, he said, and it will take some time before the industry is able to harness the efficiency gains brought about the new technology.
Though it is unknown whether or not financial systems will be running on DLT in the future, Müller said that financial institutions and banks will most likely be playing a much bigger role in the digital asset sphere by facilitating access to tokenized assets.
Benjamin Müller
“The model that we have today is very well compliant with the model we could see when DLT and blockchain is used,” he said.
“We could very well imagine a world where we would have the two-tier financial system with intermediaries, banks and other financial institutions allow end-users to access such tokenized assets and to settle payments. It’s not necessarily in conflict.”
Asset tokenization, a process which involves representing the ownership rights of real-world assets as digital tokens on a distributed ledger, has been a popular trend among financial institutions.
Earlier this year, Swiss private bank Cité Gestion announced that it had become the first private bank to tokenize its shares under Swiss law. For the project, the bank teamed up with Taurus, a Geneva-based digital asset infrastructure provider. Taurus was in charge of tokenizing the shares, managing the smart contract and performing asset servicing of the securities, the companies said in a press release.
Taurus, which received a securities license last year from the Swiss Financial Market Supervisory Authority, said it had been involved in tokenizing 15 deals with Swiss-based and EU-based issuers, including banks and asset managers as well as small and medium-sized enterprises (SMEs) and startups since its inception in 2018.
The company counts among its clients the likes of Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vontobel, and secured a US$65 million Series B funding round in February to support its growth.
SNB laid out its intend to “future-proof” the domestic payment ecosystem in March, outlining its ambition to leverage technologies and processes including tokenization and DLT to establish an “efficient, reliable and secure ecosystem” that’s geared towards “the future of cashless payments in Switzerland,” SNB governing board member, Andréa Maechler, said during an event.
As part of the plan, the central bank is investigating how central bank money can be made available in a regulated token environment. The project focuses on examining different models for token settlement, and is being undertaken in collaboration with the regulated financial market infrastructures and other market participants.
Separately, the Swiss Bankers Association (SBA) is exploring the concept of a privately issued, publicly accessible and programmable form of money. If carefully designed, this stablecoin could allow for a wide range of new applications, reduce risks, increase efficiency, and open up whole new areas of business, the industry trade group says.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/swiss-banks-unlikely-to-migrate-to-blockchain-dlt-systems-says-snb-advisor</link><guid>3223</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/06/Digital-Monetary-Institute-symposium-1024x683.jpg?x30842</dc:content ><dc:text>Swiss Banks Unlikely to Migrate to Blockchain, DLT Systems, Says SNB Advisor</dc:text></item><item><title>European Merchants Tap Latin America E-Commerce Opportunity</title><description><![CDATA[Latin America (LatAm), one of the fastest-growing e-commerce markets globally, has become a preferred destination for European companies looking to expand globally, an appeal that’s owed to the region’s booming smartphone penetration, rapidly digitizing population and improving payment infrastructure, a new report by Canadian payment processor Nuvei says.
The paper, titled Insights and Opportunities for Regional Expansion Success: Interconnecting Europe and Latin America, provides insights into the connections between European and LatAm markets and explores e-commerce payment trends, growth drivers and opportunities.
According to the paper, LatAm has emerged into a compelling market for European brands and is oftentimes the first overseas region European merchants contemplate expanding into. These brands are attracted to LatAm’s increasing Internet penetration, growing smartphone adoption and rapid e-commerce growth, and are seeking to tap into the two regions’ deeply rooted commercial relationships, cultural synergies, and the general affinity Latin Americans have for European brands.




   



    
   


   








Another reason European merchants are finding success in LatAm relates their experience in catering to local payment preferences, the report notes. Just like they adapt to the diverse payment landscape in Europe, European brands understand the need to enable multiple payment methods in LatAm.
This approach is required due to the heterogeneity of the region where customer preferences and banking penetration can vary greatly from one country to another. Digital account penetration, for example, is quite uneven across LatAm, ranging from 65% in Peru to 72% in Mexico, 75% in Colombia, 81% in Brazil, and 90% in Chile, the report notes.
This heterogeneity requires merchants to enable a wide range of alternative payment methods, it says, including local bank transfers, digital wallets, buy now, pay later (BNPL) arrangements, and local card schemes.
LatAm is one of the fastest-growing e-commerce markets in the world with Brazil and Mexico both growing more than 20% per year, and even faster moving opportunities in Colombia, Chile, and Peru, the report says.
Forecast for e-commerce growth from 2019 to 2025, Source: Insights and Opportunities for Regional Expansion Success: Interconnecting Europe and Latin America, Nuvei, 2023
With consumer e-commerce demand outpacing local supply, cross-border e-commerce is growing by 29% annually as Latin Americans eagerly look to international brands.
Payments and Commerce Market Intelligence (PCMI) estimates that the current cross-border share of European merchants stands at 2% of all of LatAm’s cross-border e-commerce in 2023, but this is currently growing more than 20% per year. Latin Americans are expected to spend US$1 billion at European e-commerce merchants this year. Of this amount, 72% will be Brazilian, and 20%, Mexican, cross-border spending with European merchants.
Across LatAm, the total cross-border e-commerce opportunity represents around US$53 billion, growing 42% in 2022, compared to 35% for the domestic market, PCMI says.
According to Nuvei, the rise of cross-border e-commerce in LatAm will accelerate in the medium term, driven by payment modernization efforts from governments across the region.
Recognizing the importance of efficient and secure payment systems for economic growth and financial inclusion, several countries in the region have implemented reforms and introduced innovative solutions to enhance their payment ecosystems.
Brazil launched in 2020 an instant payment system called PIX. PIX allows individuals and businesses to make real-time payments and transfers, 24/7, including weekends and holidays. The system has gained immense popularity due to its convenience, speed, and low cost, reaching in March 2023 monthly transaction volume and value of three billion and US$250 billion, respectively.
PIX transaction volume, USD, Source- Insights and Opportunities for Regional Expansion Success- Interconnecting Europe and Latin America, Nuvei, 2023

Another notable example is Mexico where the government launched in 2019 CoDi, a real-time electronic payment method designed to reduce the use of cash, promote competition and improve financial inclusion.
These ongoing modernization efforts will make financial services even more accessible in LatAm and create new commerce opportunities for merchants locally and abroad, the report says.

This article first appeared on Fintech News America.
Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/european-merchants-tap-latin-america-e-commerce-opportunity</link><guid>3222</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>European Merchants Tap Latin America E-Commerce Opportunity</dc:text></item><item><title>Crowdfunding Studie 2022: KMU Kreditfinanzierung wächst</title><description><![CDATA[Finanzierungen über das Internet verzeichneten im Jahr 2022 einen Volumenrückgang von 16 Prozent auf insgesamt 662 Millionen Franken. Gewachsen ist hingegen der Teilbereich der Kreditfinanzierung von KMU. Das zeigt der Crowdfunding-Monitor 2023 der Hochschule Luzern.
Mit einem Volumen von 662.4 Millionen Franken blieb der Markt hinter dem letztjährigen Rekordwert von 791.8 Millionen Franken zurück. Seit der Gründung der ersten Crowdfunding-Plattform vor 15 Jahren wurden auf dem digitalen Weg in der Schweiz rund 3.7 Milliarden Franken vermittelt.
Verschnaufpause oder Zeitenwende?
Erstmals in der Geschichte des Crowdfundings in der Schweiz verzeichnete das Marktvolumen im Jahr 2022 keinen Anstieg mehr. Im Vergleich zum Rekordwert von 2021 sank das Volumen um 16 Prozent. Dennoch liegt das Volumen immer noch deutlich über dem Wert von 2020. Laut den Studienautoren hat dabei auch das gestiegene Zinsniveau das Marktwachstum etwas beeinflusst.




   



    
   


   








Höhere Zinsen wirken sich eher hemmend auf die Kapitalnachfrage, z. B. im Bereich des Crowdlendings, aus. Bei der Kapitalanlage vergleichen Investorinnen und Investoren vermehrt die Risiken und Renditen dieser Anlageklasse mit den Risikoprofilen alternativer Anlagemöglichkeiten. Die Studienautoren erwarten für das Jahr 2023 ein aufgrund makroökonomischer Unsicherheiten (wirtschaftliche Entwicklung, Zinsniveau) ein ähnliches Volumen wie im Jahr 2022.
Abbildung 1: Entwicklung Crowdfunding in der Schweiz nach Volumen von 2008 bis 2022
Online-Kreditmarkt für KMU wächst
Mit Ausnahme der Fremdkapitalfinanzierung von Unternehmen sind die Volumina aller Crowdfunding Segmente zurückgegangen. KMU-Crowdlending wuchs im Jahr 2022 um 28 Prozent auf 141.9 Millionen Franken.
Prof. Dr. Andreas Dietrich

Andreas Dietrich, Co-Autor des Crowdfunding-Monitors, sagt dazu: «Kredite via Plattformen an KMU wachsen bereits seit Jahren kontinuierlich. Die Marktentwicklung dieses Segments wurde aber durch die Covid-Krise und die entsprechenden Covid-Kredite im Jahr 2020 unterbrochen. Insofern befindet sich die KMU-Finanzierung nun wieder zurück auf dem früheren Wachstumspfad».

Stellschrauben für künftiges Wachstum
Die Studienautoren der HSLU identifizieren zwei Bereiche, welche wichtige Voraussetzungen für ein künftiges Marktwachstum darstellen. Als erstes wird der Einbezug von institutionellen Investoren für die Sicherstellung eines bedeutenderen Kapitalangebots von zentraler Bedeutung sein. Bisher ist es noch nicht gelungen, institutionelle Investoren in einem signifikanten Mass zu gewinnen.
Andreas Dietrich meint dazu: «Es braucht nach wie vor viel Aufklärung, damit traditionelle Finanzinstitute,Risikokapitalgesellschaften und Business Angels sowie auch klassische institutionelle Investoren das Potenzial von Crowdfunding als Investitionsmöglichkeit erkennen.»
Ein weiterer entscheidender Faktor für das Wachstum der Kapitalnachfrage ist der Bekanntheitsgrad von Crowdfunding als Finanzierungsquelle. Insbesondere im Bereich der Fremdkapitalfinanzierung (Unternehmenskredite, Konsumkredite) könnte eine höhere Bekanntheit und Kenntnis bei potenziellen Kreditnehmern das Wachstum vorantreiben. Viele Unternehmen verzichten trotz Finanzierungsbedarf auf einen Kreditantrag bei einer Bank, da sie beispielsweise Bedenken haben, dass die Zinskosten zu hoch sind oder dass sie keinen Kredit erhalten würden. Die Nutzung von Crowdlending als alternative
Kreditquelle könnte dazu beitragen, diese Bedenken zu zerstreuen. Im Bereich der Konsumkredite haben viele Privatpersonen möglicherweise noch nicht erkannt, dass Crowdlending im Vergleich zu anderen Optionen attraktive Zinskonditionen bietet.


Vier Formen von Crowdfunding
Crowdsupporting: Meist kreative und kulturelle Projekte und Kampagnen aus dem Sportbereich. Der Investor oder die Investorin erhält für seinen Beitrag ein Produkt, ein künstlerisches Werk oder eine Dienstleistung. Wer z. B. ein Buch finanziert, erhält ein Exemplar kostenlos.
Crowddonating: Mehrheitlich Spenden für soziale, karitative und kulturelle Projekte, die an keine Gegenleistung geknüpft sind.
Crowdinvesting: Investitionen von Eigen- oder Fremdkapital in Unternehmen (Start-ups) oder Immobilien. Als Gegenleistung erhalten die Investorinnen und Investoren eine Gewinnbeteiligung.
Crowdlending: Vermittlung von Krediten an Unternehmen oder Private. Als Gegenleistungen erhalten die Geberinnen und Geber Zinszahlungen, deren Höhe vom Risiko des Kapitalnehmers abhängt.
Crowdfunding-Monitor 2023
Der «Crowdfunding Monitor Schweiz» wird jedes Jahr vom Institut für Finanzdienstleistungen IFZ der Hochschule Luzern – Wirtschaft mit Unterstützung der Schweizer Crowdfunding-Plattformen durchgeführt. Folgende Plattformen haben die Studie in Form von Daten unterstützt: Acredius, Bee’n’Bee Beedoo, Cashare, CG24 Group, Conda.ch, Creditworld, Crowd4cash, Crowdhouse, Crowdify, Dagobertinvest, Foxstone, Funders, Fundoo, I believe in you, Imvesters, Lend, Lokalhelden, Neocredit, Progettiamo, Raizers, SigImpact, Swisslending, Swisspeers, There for you, Wemakeit, Yeldo, und Yes We Farm.


Featured image credit: Edited from freepik


]]></description><link>https://fintechnews.eu/crowdfunding-studie-2022-kmu-kreditfinanzierung-wachst</link><guid>3221</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Crowdfunding Studie 2022: KMU Kreditfinanzierung wächst</dc:text></item><item><title>InvestHK Officially Launches the Global Fast Track 2023 Fintech Accelerator</title><description><![CDATA[Invest Hong Kong (InvestHK) had announced today the official launch of its year-round fintech accelerator Global Fast Track 2023 (GFT).
The accelerator is established through three pillars – the Global Scaleup Competition, the Business Matching Platform, and the always-on GFT Alumni Programme.
InvestHK and partnering regulators of the 2023 GFT, including the Hong Kong Monetary Authority, the Insurance Authority, the Securities and Futures Commission, together with the Customs and Excise Department, set the goal and vision to facilitating the world’s most innovative fintech firms to launch and succeed in Hong Kong, across Asia, and beyond.
This year, InvestHK appointed WHub as co-organiser of the GFT 2023. With its passion for boosting startups and fostering the Hong Kong startup ecosystem, WHub accelerates startup business through meaningful connections with accelerators, incubators, the Government and investors.
Here’s what you need to know about the Global Fast Track 2023

1. Global Scaleup Competition
Unlike previous years, the GFT 2023 has introduced the Global Scaleup Competition, with physical semi-finals across 12 cities and one virtually, from June to September.
The 12 cities are; Bangalore, Bangkok, Berlin, Dubai, Hong Kong, London, New York, Paris, Shenzhen, Singapore, Tel Aviv, and Toronto.
Thirteen finalists from fintech, artifical intelligence, and Web3 scaleups will be selected to pitch in person in the grand finale at Hong Kong Fintech Week 2023.

This opportunity not only provides unmatched exposure to over 30,000 visitors, it also unleashes business opportunities through one-on-one meetings with Corporate, Investor and Service Champions, consultation sessions with regulators, and a winning potential investment of up to US$3 million from venture sponsors AngelHub and Club Deal.
Applications are open now till July. Further details and the semi-finals’ schedule can be found here.
2. Business Matching Platform
Going live online in the third quarter of 2023, the FintechHK Community Platform will serve the GFT community by enabling one-on-one business matchings.
Through the platform, GFT Champions are able to explore and connect with suitable fintech firms. Other off-line activities such as mentor sessions by industry partners, business networking and more will also be featured on the platform.
3. GFT Alumni Programme
The FintechHK Community Platform will also support the GFT Alumni Programme which provides year-round business networking and advice to empower fintech firms to build sustainable businesses in the region.
Last year, GFT received over 400 fintech applications from across 45 economies, and support from over 100 Champions across three categories – Corporates, Investors and Service Providers.
The programme facilitated over 175 one-on-one business meetings.
King Leung
King Leung, Head of Fintech at InvestHK said,
“Since the start of the year, we have been thrilled to reconnect with the world in person. We have engaged in many events and networking opportunities, and the message that ‘Hong Kong is back’ is loud and clear.
With new partnerships and ideas, we will continue to push forward as Hong Kong cements its status as a leading fintech hub and the gateway for next-generation fintech companies worldwide. I look forward to an even more exciting year with participation from companies all around the world.”
InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment.
It has a dedicated fintech team to attract the world’s top innovative fintech enterprises, startup entrepreneurs, investors, and other stakeholders to set up and scale their business via Hong Kong into Mainland China, Asia and beyond.
For more details on the Global Fast Track 2023, click here.

]]></description><link>https://fintechnews.eu/investhk-officially-launches-the-global-fast-track-2023-fintech-accelerator</link><guid>3220</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/05/626fc371884880c419fdcc5a_bg_img_1-p-2000.jpeg?x30842</dc:content ><dc:text>InvestHK Officially Launches the Global Fast Track 2023 Fintech Accelerator</dc:text></item><item><title>A Snapshot into Hungary’s New Digital Nomad Visa</title><description><![CDATA[Hungary launched a digital nomad visa in 2022, allowing foreign nationals to live in the country for up to a year while working for a company located abroad.
The residence permit, called White Card, is designed for digital nomads, investors, and entrepreneurs, providing remote workers with a clear and streamlined process toward temporary residency in the country without the need of local sponsorship.
The scheme is reportedly the most accessible digital nomad visa in Europe, requiring applicants to earn a minimum of EUR 2,000 per month. This makes the program much more accessible than other European alternatives in countries like Portugal (a minimum of EUR 3,040/month), Malta (EUR 2,700/month) and Croatia (EUR 2,400/month).




   



    
   


   








Hungary is overall a compelling destination for digital nomads, providing affordable living costs, a safe environment with relatively low criminality, good Internet connection and strong infrastructure and a continental climate with hot summers and snowy cold winters.
But above all, the residence permit gives holders a favorable taxation regime with an exemption for the first six months and the ability to travel freely in the Schengen zone.
image via Unsplash
Requirements for Hungary’s the White Card
Hungary’s White Card is available to workers who are not citizens of an European Union (EU) or a European Economic Area (EEA) country.
Applicants must have “a verified employment relationship in a country other than Hungary” in addition to foreign investors who “[own] a share in a company with a verified profit in a country other than Hungary.” In both cases, applicants must work or manage their company from Hungary using “an advanced digital technology solution.” Applicants must also meet the minimum income requirement of EUR 2,000 per month.
To apply for a White Card, applicants must hold a passport that’s valid for at least six months after their visa expires and must produce proof of income for at least six months prior to entry, proof of accommodation in Hungary proof of having access to comprehensive health insurance services. The administrative fee relating to applying for a White Card is EUR 110 when applying in an Hungarian embassy or consulate.
Government processing times are approximately 30 calendar days. Upon arrival, permit holders must register their accommodation with regional authorities and complete the application in country.
The White Card allows permit holders to stay for up to a year but is renewable for an additional year. The permit, however, does not allow holders to sponsor their spouse or dependents. Permit holders must stay in the country for at least 90 days in a 180-day period.
The rise of digital nomad visas
Digital nomad visas and immigration programs targeting remote workers have proliferated around the world as governments seek to tap into the opportunities brought about the remote work revolution, attract foreign talent and stimulate tourism.
Digital nomads are individuals who leverage technology to work remotely and have the flexibility to travel and live in different locations while earning an income. They often work in the fields of software development, writing, design, marketing and consulting.
Several reasons are driving governments to introduce digital nomad visa schemes. For one, digital nomads contribute to the local economy by spending money on accommodation, transportation, food and other goods and services. This can help stimulate economic growth and create new business opportunities in the country.
Digital nomads also bring valuable expertise and innovation to the local job market, contributing to industries such as information and communications technology (ICT).
According to Citizen Remote, a community of digital nomads and resource platform, there are over 50 countries that offer digital nomad visas or special permits for remote workers. A majority of these visas are available in European countries, including Croatia, Estonia, Greece, Czech Republic, Spain, and, most recently, Romania.
Romanian president Klaus Iohannis signed into law earlier this year a bill that clarifies the tax regime for digital nomads, allowing foreign remote workers coming to Romania for a longer period to benefit from tax breaks.
To benefit from the scheme, foreign workers cannot exceed a stay of 183 days in the country over a period of 12 consecutive months. The minimum income requirement is EUR 3,950/month.
Italy and Croatia have among the most popular digital nomad visa schemes in Europe. Croatia’s digital nomad program has recorded notable traction these past years, rising from under 50 digital nomads registered under the scheme between January and June 2021, to more than 590 living in the country in January 2023. In January, there were 142 new applications for the visa scheme, according to an Euractiv report.
Italy, meanwhile, was home to more than 2,200 digital nomads in March 2022, data from the Italian Association of Digital Nomads show.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/a-snapshot-into-hungarys-new-digital-nomad-visa</link><guid>3219</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>A Snapshot into Hungary’s New Digital Nomad Visa</dc:text></item><item><title>Banking-as-a-Service Momentum to Carry on this Year in Europe</title><description><![CDATA[Banking-as-a-service (BaaS) has been on the rise in Europe in recent years, driven by favorable new regulations, the region’s thriving fintech ecosystem, increased collaboration between banks and fintech companies, and changing customer expectations.
Moving forward, BaaS will carry on its momentum in the region, triggering a “revolutionary shift” in the financial service industry, a new report by WhiteSight, a fintech-focused research firm, and Toqio, a fintech-as-a-service platform provider, says.
The State of Banking-as-a-Service in the UK and Europe report, released in April 2023, provides an overview of the Europe’s BaaS landscape, examining business models, the competitive landscape, regulatory oversight, and demand drivers.




   



    
   


   








According to the report, changes in the financial services industry brought about BaaS have already begun and are now picking up speed.
Incumbents in the UK and Europe are increasingly better big on BaaS as a key driver of growth of innovation. Use cases for BaaS are expanding well beyond account and payment services to now encompass identity verification, loan origination, business-to-business (B2B) buy now pay later (BNPL) and earned-wage access (EWA). And financial service providers are recognizing the need for wider ecosystem collaboration. This includes working with fintech startups, digital platforms, traditional banks and technology firms.
As Europe’s BaaS industry continues to grow and mature, the sector is expected to see consolidation. Providers will seek to scale their operations and expand their customer base and pursue acquisition opportunities, the report says. This trend will further be accelerated by factors including increased competition, regulatory pressures, and the need to provide a broader range of services to customers, it predicts.
The report also forecasts heightened regulatory scrutiny of BaaS providers in Europe as adoption grows. Regulators in the UK, Germany and Lithuania, in particular, are introducing more stringent rules to mitigate potential risks, including money laundering, fraud, and financial instability.
The Consumer Duty, a new set of regulations proposed by the UK Financial Conduct Authority (FCA), is expected to have a significant impact on BaaS providers in the UK by setting higher and clearer standards of consumer protection across financial services.
In the European Union (EU), new guidelines on the outsourcing of payment services by licensed electronic money institutions were recently issued, emphasizing the need for more effective risk management and anti-money laundering (AML) controls.
The European BaaS landscape
In Europe, the UK and Germany are at the forefront of the BaaS revolution, making up for around 60% of the market share in the region. But over the past few years, the BaaS movement has been picking up pace in several other European countries, including Lithuania, Sweden, Finland, Spain, and France.
Banking-as-a-service players in Europe, Source: The State of Banking-as-a-Service in the UK and Europe, WhiteSight/Toqio, April 2023
BaaS is expected to grow at a compound annual growth rate (CAGR) of 15-16% globally by 2030, a rate that’s projected to be witnessed in Europe as well. According to McKinsey, the target addressable market (TAM) for BaaS in the European Economic Area (EEA) and the UK is set to reach EUR 90-105 billion by 2030.
The growth of Europe’s BaaS market will be driven by developments in embedded finance or the integration of financial services and tools into the customer journeys of non-financial companies, as well as the rise of fintech companies and specialized players.
Increased adoption of embedded finance will result in a TAM of between EUR 75-85 billion by 2030, while the continued growth of nonbanking-licensed fintech and specialized companies will to create a revenue pool of EUR 15-20 billion by then, the consultancy firm predicts.
Banking-as-a-service target addressable market by 2030, Source: McKinsey, September 2022
The rise of the European BaaS market comes on the back of soaring adoption of these solutions by the business community.
A recent study by BaaS provider Vodeno and Belgian digital bank Aion Bank polled 1,000+ business decision-makers in the UK, Belgium and the Netherlands on their views and predictions for BaaS. The survey found that 39% of respondents have already implemented BaaS products, with an additional 38% considering using it in 2023.
BNPL (48%), foreign exchange (FX) (48%), small and medium-sized enterprise (SME) lending (47%), and loyalty (46%) were cited as the most popular products businesses are considering implementing.
The study also found that business leaders are confident in the prospect of BaaS. 64% of decision-makers believe that BaaS will achieve mainstream adoption in the next five years, with the cost-of-living crisis acting as a catalyst, according to an additional 56%.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/banking-as-a-service-momentum-to-carry-on-this-year-in-europe</link><guid>3218</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Banking-as-a-Service Momentum to Carry on this Year in Europe</dc:text></item><item><title>Global Finance, Tech M&amp;A Activity Continues to Decline</title><description><![CDATA[Mergers and acquisitions (M&amp;A) activity in the financial services and technology industries continued their decline in Q1 2023, carrying on a trend that began last year.
Deal activity in these sectors is now reaching levels not seen since the start of the pandemic, new data from research firm PitchBook show.
The sector saw an estimated 856 deals, a decrease of 11.4% quarter-on-quarter (QoQ), while deal value sank 31.7% QoQ and 47.0% year-on-year (YoY), the report says.




   



    
   


   








Financial services M&amp;A activity by quarter, Source: Q1 2023 Global M&amp;A Report, PitchBook, April 2023
During Q1 2023, the market experienced distressed sales following the collapse of several small- to mid-size banks in the US, it notes.
Silicon Valley Bank (SVB) was acquired from the Federal Deposit Insurance Corporation (FDIC) by First Citizens Bank after an extensive sale process. SVB imploded in March after being forced to sell securities at a loss amid higher interest rates.
Spooked investors and depositors rapidly began pulling their money out, leading a staggering US$42 billion of deposits being withdrawn the day before the bank shut down.
Another acquisition occurred in Q1 2023 when Flagstar Bank, a subsidiary of New York Community Bancorp, acquired certain assets and assumed certain liabilities of Signature Bank from the FDIC.
Signature Bank closed down two days after the collapse of SVB after nervous customers withdrew more than US$10 billion in deposits. That run on deposits quickly led to the third-largest bank failure in US history.
Finally, the third deal highlighted by PitchBook was the purchase of Credit Suisse by fellow Swiss giant UBS after the bank’s shares and bonds slumped.
Like the financial services industry, the technology sector too experienced a slow start of the year, recording an estimated 2,043 deals closed or announced for a combined value of US$146.8 billion in Q1 2023. The figures imply a 1.3% decline QoQ in deal count while deal value went down 18.1%.
The quarter did, however, witness some notable mega-deals, including nine transactions above US$1 billion, according to PitchBook. One of these deals was the acquisition of Qualtrics, a provider of experience management software, by Silver Lake and the Canada Pension Plan in March. The deal valued Qualtrics at approximately US$12.5 billion.
IT M&amp;A activity by quarter, Source: Q1 2023 Global M&amp;A Report, PitchBook, April 2023
Fintech M&amp;A activity set for rebound
Fintech M&amp;A activity also cooled off, recording 130 acquisitions and buyouts in Q1 2023 totaling US$4 billion in value, data from intelligence platform Dealroom show. The numbers suggest a 55.6% YoY and 69% QoQ decline in deal value, while deal count pulled back 42% YoY and 12% QoQ.
M&amp;A deals observed in Q1 2023 included acquisitions of fintech startups by incumbents as well as fast-growing startups consolidating their lead by acquiring rivals. The quarter also saw several PE firms take advantage of tumbling public valuations to acquire high-growth tech companies at more attractive prices.
UK embedded finance and banking-as-a-service (BaaS) provider and former fintech unicorn Railsr was sold earlier this year in a prepackaged bankruptcy to a consortium of investors; US-based savings and investing unicorn Acorns acquired London-based GoHenry, a startup providing financial education services and money management to kids and teens, to expand internationally and offer financial wellness; UK retail and commercial bank NatWest brought an 85% stake in workplace savings account provider Cushon to grow its product offering to businesses; and Vista Equity Partners, an enterprise software-focused PE firm, acquired Duck Creek Technologies in March. The software provider for property and casualty insurance went public in 2020 for a market cap of around US$5 billion, which fell below US$2 billion in 2022.
Number of fintech exits quarterly, Source: Q1 2023 Global M&amp;A Report, Dealroom, April 2023
American law firm White &amp; Case expects the fintech M&amp;A downtrend to reverse. The sector is set to see a surge in M&amp;A deal activity centered on the consolidation of existing market participants, together with investors taking advantage of lower valuations to acquire strategic stakes in scalable technologies, the firm’s M&amp;A lawyers predict.
In addition, smaller fintech companies struggling to build scale will likely seek out strategic partnerships with larger corporations to achieve deep market penetration.
Fintech segments likely to see the most M&amp;A activity include open banking, neobanking, regtech, green fintech, paytech and digital currency infrastructure providers, the experts predict.
Fintech funding activity continued to decline in Q1 2023 and is on track to fall short of both 2021 and 2022, data from Dealroom show. Global fintech funding reached US$14 billion in the first quarter of the year, down 46% and 60% compared with Q1 2021 and Q1 2022, respectively.
Fintech was the most invested industry in Q1 2023 behind only enterprise software where funding activity was driven by OpenAI and the rest of generative artificial intelligence (AI).
Global fintech funding, by quarter US$, Source: Q1 2023 Global M&amp;A Report, Dealroom, April 2023

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/global-finance-tech-ma-activity-continues-to-decline</link><guid>3216</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Global Finance, Tech M&amp;A Activity Continues to Decline</dc:text></item><item><title>Offline Payments Using CBDCs Promise Many Benefits But Design Should Be Considered Thoroughly</title><description><![CDATA[The ability to make offline payments with central bank digital currencies (CBDCs) has attracted increased interest among central banks for their potential to support public policy objectives including financial inclusion, universal access, payment system resilience and privacy.
A survey conducted by the Bank for International Settlements (BIS) Innovation Hub Nordic Centre found that central banks view offline payments with retail CBDC as an important feature, with 49% considering it to be vital and 49% considering it to be advantageous.
But despite these perceived potential benefits, monetary authorities considering the implementation of CBDCs with offline functionality must take into account a complex matrix of issues relating to security, privacy, likely risks, the types of solution, their maturity and applicability, a new paper by BIS says.




   



    
   


   








The paper, titled A handbook for offline payments with CBDC and compiled in partnership with UK consultancy Consult Hyperion, addresses these issues and explores key aspects of how CBDCs could work for offline payments.
Ultimately, there is no “one-size-fits-all” solution, the paper says, and each country has different reasons for providing offline payments with CBDC. This means that the types and forms of offline payments will vary from one country to another depending on their objectives and local requirements.
The paper outlines three different modes of offline payments: the fully offline mode, which allows payments to be completed and settled without the need to connect to a ledger; the intermittently offline mode, which, like the fully offline mode, enables the payee to spend the value received at the end of the transfer, but which imposes transaction limits and requires synchronization with the central system intermittently; and the staged offline mode, where value exchange takes place offline but requires a connection to settle on the payee side and for the value transferred to be spendable.
These modes have different implications for risk management, the level and type of privacy provided, and the resilience conditions that are supported, the paper warns.
Modes of offline payment, Source: A handbook for offline payments with CBDC, Bank for International Settlements/Consult Hyperion, May 2023
The paper also delves into the key components required to support offline payments functionality in CBDC systems, highlighting the need of a user device, a user onboarding process, provisioning and lifecycle management of the wallet, online and offline ledgers, offline risk management, and the software implementing the offline payment functionality which must support value transfer and storage.
It notes that offline payments can be provided through hardware, software or a combination of both, but that this design decision will ultimately impact the solution’s suitability. In some countries, for example, software-based solutions are more appropriate than hardware-based ones, or vice versa, the report notes.
Hardware-based solutions use tamper-resistant chips like those commonly present in popular payment cards. Software-based solutions, meanwhile, are typically smartphone-based and use a range of software techniques to protect cryptographic keys and data both at rest and while they are being processed.
A logical architecture for offline CBDC payment solutions, Source: A handbook for offline payments with CBDC, Bank for International Settlements/Consult Hyperion, May 2023
The paper gives several recommendations, advising central banks to adopt a risk-based approach at the earliest stages of designing the technology and business operations, taking into account specifically security, operational and incident risk management.
Authorities should also clearly define the roles and responsibilities of each of the participants in the ecosystem, and should provide guidance to solution vendors on their expectations for what solutions they should be able to offer.
As part of the report, BIS conducted a survey of central banks to understand their views on offline payments with CBDC. Respondents cited financial inclusion (40%), cash resemblance (40%) and resilience (33%) as their main goals for offline payments with CBDC.
The relevance of offline payments is particularly important in developing countries where individuals use feature phones rather than smartphones, and in areas without Internet access and/or electricity, the research found.
The BIS Innovation Hub Nordic Centre is currently exploring the potential of offline payments using CBDCs through Project Polaris. Over several workstreams, the initiative will see the center provide central banks with essential information on architecture, design, implementation planning and investment considerations to make an informed decision.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/offline-payments-using-cbdcs-promise-many-benefits-but-design-should-be-considered-thoroughly</link><guid>3217</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Offline Payments Using CBDCs Promise Many Benefits But Design Should Be Considered Thoroughly</dc:text></item><item><title>SumUp Enables JCB Card Acceptance for Its European Merchants</title><description><![CDATA[SumUp, a London-based global payments service provider, has tied up with Japan-based card scheme JCB International to enable the acceptance of JCB Cards across its European merchant network.
The enablement of JCB Card will allow SumUp’s merchants in Europe, which are part of its over 4 million merchant network in the world, to become members of JCB’s growing merchant community.
SumUp’s merchant network comprises businesses of all sizes, from nano entrepreneurs to SMEs, such as grocery stores, taxi companies and small-sized shops.




   



    
   


   








With the availability of JCB Contactless, JCB card members may simply tap their card on SumUp’s readers for payment convenience.
Ray Shinzawa
Ray Shinzawa, Managing Director, JCB International (Europe) said,
“We’re excited to introduce SumUp as our new partner and work closely with its merchant network starting with European countries and regions to further increase JCB Contactless acceptance.

SumUp’s global presence and innovative technology make it the ideal choice for our cardmembers, who value secure and fast transactions when shopping abroad.”
Michael Schrezenmaier
Michael Schrezenmaier, CEO Europe, SumUp said,
“We are committed to empowering small businesses and helping them tap into the expanding number of Asian travellers. Our new partnership with JCB will enable them to offer a preferred payment option to these travellers.

This is an exciting time, especially for small and medium-sized businesses looking for new avenues of growth, and with the deployment of JCB Card acceptance, we can better provide them with the tools they need to differentiate themselves from their competition and thrive in today’s global marketplace.”
]]></description><link>https://fintechnews.eu/sumup-enables-jcb-card-acceptance-for-its-european-merchants</link><guid>3215</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>SumUp Enables JCB Card Acceptance for Its European Merchants</dc:text></item><item><title>QED Investors Raises Nearly US$1 Billion to Invest in Fintech Firms Globally</title><description><![CDATA[QED Investors, a global venture capital firm investing exclusively in fintech companies, announced the close of two new funds totaling US$925 million.
With the close of these two new funds, QED will have more than US$4.0 billion under management.
The Fund VIII is an oversubscribed US$650 million early stage fund while the Growth II is a US$275 million early growth-stage fund.




   



    
   


   








These funds will allow QED to continue to invest in disruptive fintech companies in the U.S., the U.K. and Europe, Latin America, India and Southeast Asia and Africa.
Founded in 2007 by Nigel Morris and Frank Rotman, QED has invested in more than 200 companies – including 28 unicorns.
Among the companies in QED’s portfolio are Credit Karma, Remitly, Nubank, AvidXchange, Klarna, and Greensky.
Nigel Morris
“We are excited, fortunate and privileged to be a steward of our investors’ capital. We don’t take that responsibility lightly, especially in this difficult market.

Unit economics, product-market fit and clear paths to profitability are the keys to survival, and QED is uniquely positioned to support our companies with the best advice in fintech.”
said QED Investors Managing Partner and Co-Founder Nigel Morris.


This article first appeared on Fintech News America.

Featured image credit: QED Investors Managing Partner and Co-Founder Nigel Morris. Background image edited from Freepik

]]></description><link>https://fintechnews.eu/qed-investors-raises-nearly-us1-billion-to-invest-in-fintech-firms-globally</link><guid>3214</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>QED Investors Raises Nearly US$1 Billion to Invest in Fintech Firms Globally</dc:text></item><item><title>Here Are the 13 Winners of the 2023 Global Zurich Innovation Championship</title><description><![CDATA[Zurich Insurance Group has announced 13 winners for the latest edition of its global Zurich Innovation Championship 2023.
The categories from which the winners were chosen are; commercial insurance, customer experience, digital enablement, distribution partnerships and sustainability.
This year’s winners present solutions to a range of challenges where insurance can take a proactive role, from using biosensors to improve health outcomes to interactive content marketing for drivers, and digital tools to improve commercial performance and customer care.




   



    
   


   








The winners will enter a four-month accelerator during which they will test the practical viability of their initiatives and prepare a business plan together with the Zurich business units that selected them.
The 13 startups will benefit from both financial and non-financial support, including coaching by Zurich executives as well as internal and external topic experts.
Those who can successfully validate their initiatives will then work locally and globally with Zurich towards joint adoption.
In addition to this year’s winners, Zurich has ongoing collaborations with 30 of the previous Zurich Innovation Championship winners and participants, with some of the initiatives already scaled across multiple countries.
Paolo Mantero
“In recent years, the insurtech market has bloomed and we see many opportunities to leverage those new ideas and technologies and embed them in the way we work.

These initiatives tackle important areas where we believe embracing transformation is crucial for the future of insurance.”
said Paolo Mantero, Group Chief Strategy Officer.
Ericson Chan
“Through collaborating with startups, we continue to source the bold and forward-thinking ideas that are needed to create a real impact for our customers.

With this year’s winning initiatives, we continue to push the boundaries of today’s insurance.”
said Ericson Chan, Group Chief Information &amp; Digital Officer at Zurich Insurance.
ZIC winners 2023




Featured image credit: Edited from Freepik

]]></description><link>https://fintechnews.eu/here-are-the-13-winners-of-the-2023-global-zurich-innovation-championship</link><guid>3213</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Here Are the 13 Winners of the 2023 Global Zurich Innovation Championship</dc:text></item><item><title>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Gears Towards Final Award Ceremony This June</title><description><![CDATA[Switzerland’s startup competition &gt;&gt;venture&gt;&gt; has announced the unranked winners’ line-up for this year which included three startups from the finance and insurance vertical.
The next step for these unranked winners is to make their pitch to &gt;&gt;venture&gt;&gt;’s advisory board during the Venture Award Ceremony 2023 on June 26 at the SwissTech Convention Center.
During this ceremony, these startups will then be ranked and the Grand Prize Winner will be announced. This year, &gt;&gt;venture&gt;&gt; will also be ranking its first ever not-for-profit track winners.




   



    
   


   








Having launched in 1997, &gt;&gt;venture&gt;&gt; has a long history of accelerating startups’ growth but had only expanded its focus to include the growing finance and insurance industry in 2019.
According to &gt;&gt;venture&gt;&gt;, the competition’s alumni has gone on to successfully found over 1,500 companies and create more than 15,000 jobs here in Switzerland.
Here are the unranked winners for the Finance &amp; Insurance vertical:
Ascentys ESG

Ascentys streamlines sustainability management, making it possible for companies of all sizes to measure, manage and improve their performance in a way that is easy, cost-effective and accurate. At the core of Ascentys’ platform is a sophisticated AI model that is able to identify and extract heterogeneous ESG-relevant data and facts from a company’s own “day to day” documents and data.
Frigg

Frigg’s solution is a Software-as-a-Service (SaaS) platform that empowers sustainable infrastructure developers to issue digital securities in the form of bonds.
grape health

grape provides its customers with fully digital employee insurances bundled with healthcare services. The firm is an employee insurer built around a full-stack technology platform that is fully digital and integrates with dozens of HR, accounting and payroll platforms.
Join the Venture Award Ceremony 2023 on June 26 to celebrate the winning entrepreneurs of Switzerland’s leading startup competition.


Featured image credit: Edited from Freepik

]]></description><link>https://fintechnews.eu/swiss-startup-competition-venture-gears-towards-final-award-ceremony-this-june</link><guid>3212</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Gears Towards Final Award Ceremony This June</dc:text></item><item><title>EU Adopts New Crypto Asset Regulation</title><description><![CDATA[The European Union (EU) has taken a significant step in regulating the crypto-assets sector with the Council’s adoption of the Regulation on Markets in Crypto-Assets (MiCA). 
This milestone marks the establishment of an EU-level legal framework for the crypto-assets industry, ensuring investor protection, preventing money laundering, and fostering innovation.
Elisabeth Svantesson, Minister for Finance of Sweden
Elisabeth Svantesson, Minister for Finance of Sweden, expressed her satisfaction with the new regulation, stating, “Today, we are delivering on our promise to start regulating the crypto-assets sector. Recent events have confirmed the urgent need for imposing rules to protect better Europeans who have invested in these assets and prevent the misuse of the crypto industry for money laundering and financing terrorism.”




   



    
   


   








Comprehensive Coverage and Regulatory Harmonization
MiCA encompasses a broad range of entities and activities within the crypto-assets industry. It introduces a comprehensive framework that includes issuers of utility tokens, asset-referenced tokens, and stablecoins. 
The regulation also covers crypto-asset service providers such as trading venues and wallets, ensuring these entities comply with anti-money laundering rules. 
By establishing a harmonized regulatory framework across the EU, MiCA represents a substantial improvement over the existing patchwork of national legislation.
Supporting Innovation and Strengthening Consumer Protection
The European Commission introduced the MiCA proposal as part of the digital finance package, which aims to foster technological development, ensure financial stability, and enhance consumer protection.
 In addition to MiCA, the package includes the Digital Operational Resilience Act (DORA) and a proposal on distributed ledger technology (DLT) pilot regime for wholesale uses. 
This comprehensive package bridges the regulatory gap, enabling new digital financial instruments to be used while ensuring they fall within the scope of financial regulation and operational risk management arrangements.
Assets Covered and Excluded under MiCA
MiCA will apply to a wide range of crypto assets, encompassing “a digital representation of value or a right that uses cryptography for security and is in the form of a coin, token, or any other digital medium transferred and stored electronically, using distributed ledger technology or similar technology.” 
This definition includes both traditional cryptocurrencies like Bitcoin and Ethereum, as well as newer variants like stablecoins.
However, MiCA will not regulate digital assets that qualify as transferable securities or function similarly to shares, nor will it cover crypto assets already regulated as financial instruments. Non-fungible tokens (NFTs) are also excluded from the regulation. 
Additionally, central bank digital currencies issued by the European Central Bank and digital assets issued by national central banks acting as monetary authorities are not within the scope of MiCA.
Regulation of Crypto-Asset Service Providers
Under MiCA, the regulation introduces comprehensive rules for Crypto-Asset Service Providers (CASPs) to ensure stability and security and protect user funds. 
CASPs must be incorporated as a legal entity within the EU and can obtain authorization from any member country, enabling them to operate across all 27 countries. 
Regulatory bodies such as the European Banking Authority will oversee the supervision of CASPs, ensuring compliance with the established standards. 
CASPs are required to demonstrate stability, soundness, and the ability to safeguard user funds effectively. Additionally, CASPs must have measures to defend against market abuse and manipulation, enhancing the integrity of the crypto-asset sector.
White Paper Requirements for Stablecoin Service Providers
MiCA imposes white paper requirements on Stablecoin Service Providers to promote transparency and enable informed decision-making. 
Stablecoin service providers are obligated to provide a detailed white paper that includes vital information about the crypto product, the main participants in the company, and the terms of the public offer. 
This also consists of the type of blockchain verification mechanism utilized, the rights associated with the crypto assets, critical risks for investors, and a summary facilitating potential purchasers’ understanding. 
By offering comprehensive information, this measure empowers investors to make informed choices regarding their investments in stablecoins.
Reserve Requirements for Stablecoin Issuers
MiCA addresses the potential risks of stablecoins by establishing reserve requirements for stablecoin issuers. Issuers will be mandated to maintain sufficient reserves corresponding to the value of their stablecoins, ensuring the avoidance of liquidity crises.
 Insufficient reserves can have severe implications for stablecoin users, leading to significant losses. By imposing reserve requirements, MiCA aims to safeguard the interests of stablecoin holders and maintain the stability of the crypto-asset market.
Transaction Limits for Stablecoin Firms (Non-Euro Currencies)
Stablecoin firms pegged to non-euro currencies will be subject to transaction limits within specified regions. MiCA sets a daily volume cap of €200 million (US$220 million) for such transactions. This measure aims to manage the potential risks associated with stablecoins and their impact on financial stability. 
By implementing transaction limits, MiCA seeks to strike a balance between fostering innovation in the crypto-asset sector and ensuring the appropriate management of associated risks.
Anti-money Laundering Measures for Crypto Companies
Recognizing the importance of preventing money laundering and terror financing activities, MiCA includes stringent anti-money laundering measures for crypto companies. 
Crypto companies will be required to provide information about senders and recipients of crypto assets to their local anti-money laundering authority. Compliance with these measures is crucial, as failure to do so can result in significant legal and reputational consequences for crypto companies. 
By enforcing anti-money laundering regulations, MiCA aims to protect the financial system’s integrity and mitigate the risks associated with illicit activities in the crypto-asset industry.
About MiCA and Future Implications
MiCA represents a pivotal milestone for the EU in regulating the crypto-assets sector. By establishing a comprehensive framework, the EU aims to protect investors, enhance transparency, preserve financial stability, foster innovation, and promote the attractiveness of the crypto-asset sector. 
With a harmonized regulatory approach across all member countries, MiCA paves the way for a more consistent and efficient functioning of the crypto-asset market within the EU. 

]]></description><link>https://fintechnews.eu/eu-adopts-new-crypto-asset-regulation</link><guid>3211</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>EU Adopts New Crypto Asset Regulation</dc:text></item><item><title>Chris Skinner Joins Shareholders and Advisory Board of WebAccountPlus</title><description><![CDATA[WebAccountPlus, a Pfäffikon based digital corporate advisor announced the addition of Chris Skinner to its advisory board and as a shareholder of the company.
Recognized as one of the most influential figures in fintech, banking and technology, Skinner brings a wealth of expertise and insight to WebAccountPlus. Skinner, a visionary leader in the fintech sector, is known for his pioneering work in the formation of one of the world’s first mobile banks and his role as an independent commentator.
He has advised CEOs and leaders from every continent of the world including the United Nations, the White House, the World Bank and the World Economic Forum. His latest book, Digital for Good, exemplifies his belief in the power of technology and finance to address today’s environmental and social issues. As a visiting lecturer at Cambridge University and a TEDx speaker, Skinner has disseminated his insights to a global audience, cementing his reputation as a leading authority in the field.




   



    
   


   








Roland Staehli
“We are excited to have Chris Skinner join our advisory board and become a shareholder,”
said Roland Staehli, CEO of WebAccountPlus.
“His unparalleled expertise and progressive style in digital transformation and the financial technology sector will bring an invaluable perspective to our platform. With his involvement, we are confident in our ability to revolutionize the banking advisory and fiduciary business.”
Chris Skinner
Skinner also shared his enthusiasm about joining WebAccountPlus’s advisory board:
“I’m delighted to contribute to the transformative work of WebAccountPlus. Their commitment to leveraging artificial intelligence in the banking and fiduciary industry aligns perfectly with my vision for the future of financial services. I’m eager to work with the team to drive meaningful change.”


Featured image credit: Chris Skinner Advisor, Author, and Speaker. Background image edited from Freepik
]]></description><link>https://fintechnews.eu/chris-skinner-joins-shareholders-and-advisory-board-of-webaccountplus</link><guid>3209</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Chris Skinner Joins Shareholders and Advisory Board of WebAccountPlus</dc:text></item><item><title>Kanton Zug Increases Maximum Tax Payment Amount With Cryptos to CHF 1.5 Million</title><description><![CDATA[The Canton of Zug is increasing the transaction limit for tax payments with the cryptocurrencies Bitcoin and Ether from CHF 100,000 to CHF 1.5 million with immediate effect. This measure will facilitate access to digital means of payment and meet the increasing needs of Zug’s population and companies.
Heinz Tännler
“We are proud that the Canton of Zug has been a pioneer in the use of cryptocurrencies for years. With the increase in the transaction limit, we are setting another example of the acceptance and spread of this innovative payment method,”
says Finance Director Heinz Tännler.
Since the introduction of crypto payment options, tax payments with a total volume of around CHF 2 million have been settled in Bitcoin and Ether in around 150 transactions in the canton of Zug. Due to the positive experiences so far, the Finance Directorate of the Canton of Zug is inviting private individuals and companies who are subject to tax in the Canton of Zug to try out the new payment channel and pay their taxes with cryptocurrencies.
“Increasing the limit is an important step into the digital future. As a further innovation, in the second half of 2023 it will also be possible to pay taxes directly with cryptocurrencies using the QR code contained on the tax administration payment slips. This simplified procedure makes payment with cryptocurrencies even more attractive,”
says Finance Director Heinz Tännler.




   



    
   


   









Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/kanton-zug-increases-maximum-tax-payment-amount-with-cryptos-to-chf-15-million</link><guid>3210</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Kanton Zug Increases Maximum Tax Payment Amount With Cryptos to CHF 1.5 Million</dc:text></item><item><title>The Top 50 Crypto VC’s in 2023</title><description><![CDATA[
									
					
							
					The USA is dominant in the cryptocurrency venture capital (VC) game, representing more than 71% of the total amount of capital under management from the top 50 crypto-focused VC funds, a new report by Coinstack Partners, a boutique investment bank for crypto and Web 3.0 companies, shows.
Global crypto VC by city – Top 50 firms, Source: The Crypto VC List 2023, Coinstack, March 2023
The report, which looks at VC funding activity in the crypto space, reveals that US crypto funds are now managing more than US$42.4 billion worth of assets of the total US$59.6 billion under management from the top 50 crypto-focused VC funds. The figure makes the US the biggest VC investor in the crypto space, well ahead of other prominent locations such Hong Kong, the UK and Singapore.
Looking at the world’s top crypto VC cities, the research found that San Francisco is the number one city for crypto VC firm capital with US$26 billion worth of assets under management. The city is followed by Hong Kong (US$9.9 billion), New York City (NYC) (US$8.6 billion), Singapore (US$3.1 billion) and Austin (US$2.8 billion).




   



    
   


   








Crypto VC by city – Top 50 firms, Source: The Crypto VC List 2023, Coinstack, March 2023
A deep dive into crypto VC firms worldwide shows that A16Z Crypto, a venture fund from Andreessen Horowitz, is currently the world’s biggest crypto fund with US$7,565 million under management. The San Francisco fund is followed by Binance Labs from Hong Kong (US$7.5 billion), Multicoin from Austin (US$2.8 billion), Pantera from San Francisco (US$2,523 million), and Paradigm (US$2.5 billion) from San Francisco.
Top 25 crypto VC firms as of March 2023, Source: The Crypto VC List 2023, Coinstack, March 2023
The report also looks at the top crypto VCs by the number of all-time investments they’ve made into the sector. The ranking paints a different picture of the top 25, revealing that Coinbase Ventures is currently the most active crypto VC investor with 355 investments, followed by Digital Currency Group (332), NGC Ventures (265) and AU21 Capital (258). For Venture Capital Firms some specific details like the possibility to buy bitcoin fractions (source: Bitcoin Anteile kaufen) is also important in considering the worth in their funding activities.
Coinbase Ventures is the corporate venture capital (CVC) arm of publicly listed crypto exchange Coinbase. Launched in 2018, the fund provides financing to early-stage cryptocurrency and blockchain startups with a focus on building out the crypto ecosystem.
Companies in its portfolio include Animoca Brands, a leader in non-fungible token (NFT) and blockchain gaming valued at a reported US$5.9 billion, Amber Group, a diversified crypto trading platform focused on the Asian market valued at US$3 billion, and Airtm, a global peer-to-peer (P2P) payment network based in Latin America.
Digital Currency Group (DCG) is a crypto VC company and a conglomerate in the digital asset space. DCG has five subsidiaries: CoinDesk, a news website specializing in crypto and blockchain; Foundry, a crypto-mining firm; Grayscale Investments, a digital asset management company; Luno, a digital asset exchange; and Genesis, a digital asset focused financial services firm for institutional clients that recently went bankrupt.
Companies in DCG’s portfolio include BCB Group, an European bank serving crypto-native businesses; BitGo, a company that offers institutional staking, custody and trading services; and BitOasis, a leading crypto exchange in the Middle East and North Africa (MENA) region.
Top 25 crypto VC firms by investment count, Source: The Crypto VC List 2023, Coinstack, March 2023
Crypto bull run incoming
Despite the prolonged so-called “crypto winter”, 2022 was a record-breaking year for crypto VC investment, reaching all-time highs for capital invested, at US$26.2 billion, and number of deals set, at 2,541, data from Pitchbook show.
Crypto VC deal activity, Source: Pitchbook, February 2023
The momentum is carrying on this year, with US$1.4 billion invested in January and February 2023 alone, the Coinstack report says. This sum represents a 3.1x increase from January and February 2019 during the last bear market (US$471 million), it says, showcasing the maturing of the sector and hinting at increased institutional participation.
Bitcoin is currently trading at around US$26,800, down more than 60% from its all-time high of almost US$69,000 in November 2021. Crypto markets crashed last year as central banks hiked rates to set price increases down and digital asset companies collapsed.
According to Coinstack, the crypto VC capital market is poised for a big comeback in 2024 and 2025, amid the upcoming Bitcoin halving. A Bitcoin halving is an event where the reward for mining new blocks is cut in half, reducing the rate at which new coins are created. Halvings are part of the process of capping the Bitcoin supply at 21 million tokens.
The next Bitcoin halving event, scheduled to take place around April 2024, will likely result in a crypto bull market in 2025, the report says. Looking at historical data and trend models, the crypto industry has tended to return to a bull market every four years for about 18 months, it says.
Coinstack predicts that bitcoin can scale pass US$69,000 and ether US$4,800 by December 2024 or January 2025, a projection that’s shared by Bloomberg Intelligence and Matrixport analysts whom expect the price of bitcoin to reach US$50,000-US$65,000 by April 2024.

This article first appeared on fintechnews.am

Featured image credit: Edited from Freepik


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	]]></description><link>https://fintechnews.eu/the-top-50-crypto-vcs-in-2023</link><guid>3208</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/10/Fintech-Zurich-2023-Smart-Sourcing-Event-.jpg?x22212</dc:content ><dc:text>The Top 50 Crypto VC’s in 2023</dc:text></item><item><title>wefox Secures $110M Funding, $55M Credit Facility From J.P. Morgan and Barclays</title><description><![CDATA[wefox, the Switzerland and Berlin-based insurtech, has secured US$55m credit facility from J.P. Morgan and Barclays alongside a $55m second close in its Series D at US$4.5bn valuation from existing investors and new investors including Squarepoint.
The new funding is earmarked to further strengthen wefox’s insurance and distribution business, which includes the recent launch of a global affinity business, and developing the technology platform.
Julian Teicke
Julian Teicke, CEO and co-founder of wefox, said:




   



    
   


   








“We are delighted to have two of the world’s most prestigious financial institutions – J.P. Morgan and Barclays – supporting our business, which strengthens our plans to enhance our insurance and distribution capabilities whilst building our platform.”
“The second close of our Series D round ensures we continue focussing on building an international business with a strong path to profitability. We have already taken important measures to fortify our business for the future and early Q1 financial performance shows that we are in good shape to navigate the challenges ahead and continue our international growth in a sustainable way,”
added Mr. Teicke.

Featured image credit: Julian Teicke, CEO and co-founder of wefox. Edited from Freepik

]]></description><link>https://fintechnews.eu/wefox-secures-110m-funding-55m-credit-facility-from-jp-morgan-and-barclays</link><guid>3207</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>wefox Secures $110M Funding, $55M Credit Facility From J.P. Morgan and Barclays</dc:text></item><item><title>Österreichisches Tech News Portal Brutkasten wird von VGN Medien übernommen</title><description><![CDATA[Die Brutkasten Gruppe, Österreichs Medienhaus für Startups, Innovation und die digitale Wirtschaft, gibt bekannt, dass der österreichische Magazinverlag, die VGN Medien Holding (u.A. Trend, Woman, tv-media), als strategischer Investor eingestiegen ist und neuer Mehrheitsgesellschafter wird.
Als Teil der Transaktion wird die VGN das weitere Wachstum von Brutkasten unterstützen und das Unternehmen bei der Expansion in neue Märkte und Segmente begleiten.
Dejan Jovicevic
Dejan Jovicevic bleibt als geschäftsführender Gesellschafter an Bord und wird weiterhin eine Schlüsselrolle in der Entwicklung des Unternehmens spielen. Er bedankt sich im Namen des gesamten Unternehmens bei den Altinvestoren für ihre langjährige Unterstützung und Zusammenarbeit.




   



    
   


   








“Wir sind sehr erfreut über den Einstieg der VGN Gruppe als strategischer Investor. Die Partnerschaft wird uns helfen, wechselseitige Synergien zu nutzen und unser Geschäft weiter auszubauen”,
sagt Jovicevic.
Horst Pirker
Horst Pirker, geschäftführender Gesellschafter der VGN Medien Holding, ergänzt:
“Brutkasten hat sich in den letzten Jahren als medialer Dreh- und Angelpunkt des heimischen Startup- und Innovationsökosystems etabliert. Wir freuen uns sehr, das Unternehmen dabei zu unterstützen, weiter eigenständig zu wachsen und sich zu entwickeln.”

Featured image credit: Dejan Jovicevic Co-Founder &amp; CEO of “Der Brutkasten” and Horst Pirker Managing Partner of VGN Medien Holding. Edited from brutkasten.com
]]></description><link>https://fintechnews.eu/osterreichisches-tech-news-portal-brutkasten-wird-von-vgn-medien-ubernommen</link><guid>3205</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Österreichisches Tech News Portal Brutkasten wird von VGN Medien übernommen</dc:text></item><item><title>St.Galler KB nominiert Cornelia Stengel als Mitglied des Verwaltungsrats</title><description><![CDATA[Der Verwaltungsrat der St.Galler Kantonalbank schlägt der Generalversammlung vom 1. Mai 2024 die Rechtsanwältin und Fintech Expertin Cornelia Stengel als Mitglied des Verwaltungsrats vor.
Prof. Dr. iur. Cornelia Stengel ist seit 2013 als Rechtsanwältin für Finanzmarkt- und Datenschutzrecht für die Kanzlei Kellerhals Carrard in Zürich tätig, seit 2017 als Partnerin.
Roland Ledergerber, Präsident des Verwaltungsrats der St.Galler Kantonalbank:




   



    
   


   








“Cornelia Stengel überzeugt durch ihre Fachkompetenz, ihre Berufserfahrung, insbesondere auch in Finanzmarktthemen, und durch ihre gewinnende Persönlichkeit. Sie wird den Verwaltungsrat ideal ergänzen.”
Fintech Anwältin mit breitem Netzwerk
Cornelia Stengel
Cornelia Stengel ist Schweizerin, hat Jahrgang 1980, ist in Wil (SG) aufgewachsen und wohnt in Wiesendangen (ZH). 2004 schloss sie das Studium als lic. iur. an der Universität Zürich ab, wo sie 2014 auch zur Dr. iur. promovierte.
Aufgrund ihrer weiteren Tätigkeiten, u.a. als Gastprofessorin und Leiterin #FinTank an der Fachhochschule Nordwestschweiz (FHNW), Geschäftsleitungsmitglied und Mitglied der Arbeitsgruppe Regulations von Swiss Fintech Innovations (SFTI), Geschäftsführerin des Schweizerischen Leasingverbands (SLV) und ihrer Mitarbeit in der Fachkommission Digitalisierung der Schweizerischen Bankiervereinigung (SBVg), bringt Cornelia Stengel auch ein breites Netzwerk und zukunftsgerichtetes Knowhow in der Finanzdienstleistungsbranche mit.
Veränderungen im Verwaltungsrat- Manuel Ammann
Cornelia Stengel wird der nächsten ordentlichen Generalversammlung vom 1. Mai 2024 zur Wahl in den Verwaltungsrat vorgeschlagen. Gleichzeitig werden zwei aktuelle Mitglieder aus dem Verwaltungsrat ausscheiden: Kurt Rüegg erreicht nach 15 Jahren die maximale statutarische Amtsdauer und Manuel Ammann tritt im Zuge seiner Wahl zum Rektor der Universität St.Gallen zurück.
Ein Jahr später wird auch Adrian Rüesch aufgrund der statutarischen Altersbegrenzung aus dem Verwaltungsrat ausscheiden. Der Verwaltungsrat hat den Suchprozess zur Ergänzung der im Zuge dieser Veränderungen entstehenden Lücken frühzeitig eingeleitet. Mit der Wahl von Cornelia Stengel werden drei Frauen im Verwaltungsrat der St.Galler Kantonalbank sein.
Featured image credit: Cornelia Stengel, Attorney at Law, Partner, Prof. Dr. iur. Edited image from kellerhals-carrard.ch/
]]></description><link>https://fintechnews.eu/stgaller-kb-nominiert-cornelia-stengel-als-mitglied-des-verwaltungsrats</link><guid>3206</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>St.Galler KB nominiert Cornelia Stengel als Mitglied des Verwaltungsrats</dc:text></item><item><title>UBS Banking App Sees Significant Growth a Year After Its Launch</title><description><![CDATA[UBS has reported that its digital banking offering ‘UBS key4’ has witnessed rapid growth, active usage and continued development of its product line in the past year since its launch.
The UBS key4 provides private clients with a comprehensive digital offering for day-to-day banking transactions, but also for more complex needs – from payments and savings to investing, retirement planning and financing.
Users of UBS key4 have access to all of these features online where the registration and onboarding reportedly takes a few minutes in order to activate the account and card.




   



    
   


   








Within the first year of launch, the bank has rolled out UBS key4 cards, UBS key4 smart investing, UBS key4 pension 3a, UBS key4 fx, and UBS key4 mortgages.
Meanwhile, the bank had also launched the UBS key4 business for its corporate clients where they can register for a free capital payment account that will be made available immediately.
Since its launch, the number of accounts being opened online among private clients has tripled as more than 175,000 clients actively use UBS key4. Additionally, 77 percent of all UBS personal banking clients and 81 percent of corporate and institutional clients are already digital.
Moving forward, the bank said that UBS’s key4 offerings will be expanded with improved client experience.
This includes the introduction of fund saving with UBS key4 smart investing so that fund accounts can also be opened and managed digitally and act as a gift for third parties.
Additionally, the digital offering for corporate clients will be expanded with the Instant Credit offering as well as new, paperless and convenient self-service functions.
Sabine Keller-Busse
“I am very proud of what we have achieved. As promised, we continued expanding our offering after the launch of UBS key4 at a rapid pace and across various client groups. And I look forward to expanding the product range even further,”
says Sabine Keller-Busse, President UBS Switzerland.



Featured image credit: Sabine Keller-Busse, President UBS Switzerland. Background image edited from Freepik
]]></description><link>https://fintechnews.eu/ubs-banking-app-sees-significant-growth-a-year-after-its-launch</link><guid>3202</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>UBS Banking App Sees Significant Growth a Year After Its Launch</dc:text></item><item><title>Temenos Rolls Out AI-Powered Digital Mortgage Solution</title><description><![CDATA[Banking software company Temenos has rolled out an AI-powered mortgage solution to will help lenders deliver a personalised digital mortgage experience while reducing their costs and time to close.
The composable and highly scalable solution is said to be suitable for banks of all sizes, building societies, credit unions that want to enhance their service offering and fintech or challenger banks looking to enter the mortgage market.
The Temenos Digital Mortgages enhances productivity and reduces delinquencies for the lenders through automation and intuitive workflows to make quick and prudent decisions, using AI to provide affordability assessments that are transparent and explainable.




   



    
   


   








It reduces the time to close for customers, helping them meet real estate contracts or rate lock periods to secure a property or afford a mortgage.
The solution is cloud-native and available for lenders to deploy in their own data centers and on any public cloud or as a SaaS on Temenos Banking Cloud, enabling them to launch and scale up services rapidly.
Prema Varadhan
Prema Varadhan, President Product and Chief Operating Officer, Temenos said,
“With this new solution, lenders can easily upgrade their mortgage capability, elevating the digital experience and leverage explainable AI for fast, responsible lending decisions.
Despite the economic headwinds, the mortgage market continues to grow and by modernising their systems in this way, we’re helping lenders increase volumes sustainably while ensuring affordability and transparency.”


This article first appeared on fintechnews.sg
Featured image credit: Prema Varadhan, President Product and Chief Operating Officer at Temenos. Edited image from Temenos.com
]]></description><link>https://fintechnews.eu/temenos-rolls-out-ai-powered-digital-mortgage-solution</link><guid>3203</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Temenos Rolls Out AI-Powered Digital Mortgage Solution</dc:text></item><item><title>Ripple Snaps up Swiss Custody Provider Metaco in US$250 Million Deal</title><description><![CDATA[Ripple, a blockchain and crypto solutions provider, has acquired Metaco, a Swiss-based provider of digital asset custody and tokenisation technology, for US$250 million.
Through this acquisition, Ripple will be able to expand its enterprise offerings by diversifying into custody solutions to provide customers with the technology to custody, issue, and settle any type of tokenised asset.
Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by Founder and CEO Adrien Treccani.




   



    
   


   








Metaco’s primary offering Harmonize is the institutional standard for digital asset custody and tokenisation infrastructure.
The company’s solutions are currently offered in Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong and the Philippines, among others.
Ripple started out with cross-border payments utilising blockchain and cryptocurrency and then expanded its product offerings to address new use cases like liquidity management and tokenisation, including Central Bank Digital Currencies (CBDCs).
Today, Ripple serves hundreds of customers in over 55 countries and 6 continents with payout capabilities in 70+ markets.
Metaco will be able to accelerate its growth trajectory through access to Ripple’s established base of customers and capital to address new demand.
Brad Garlinghouse
Brad Garlinghouse, CEO of Ripple said,
“Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record.
Through the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.”
Adrien Treccani
Adrien Treccani, Founder and CEO at Metaco, said,
“This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our clients at a faster pace. We look forward to continuing to serve unprecedented levels of institutional demand with the utmost excellence in delivery, as our clients have come to expect.”
This article first appeared on fintechnews.sg
Featured image credit: Brad Garlinghouse CEO of Ripple and Adrien Treccani Founder and CEO at Metaco. Background image edited from Freepik
]]></description><link>https://fintechnews.eu/ripple-snaps-up-swiss-custody-provider-metaco-in-us250-million-deal</link><guid>3204</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Ripple Snaps up Swiss Custody Provider Metaco in US$250 Million Deal</dc:text></item><item><title>Fabrick Acquires Mobile Payments Firm Judopay, Expands Footprint in the UK</title><description><![CDATA[Fabrick, an Italian open banking solutions provider, announces that it has acquired UK-based mobile payments company Judopay. Details of the transaction was not disclosed.
This acquisition marks an important step in Fabrick’s expansion into the UK market. Judopay will continue operating under its own brand once the deal has been finalised.
This deal will allow Fabrick’s Payment Orchestra™ to benefit from Judopay’s innovation expertise in digital commerce.




   



    
   


   








Fabrick said that with this acquisition, it will be able to define new models and standards to provide smoother payment solutions, frictionless processes, and seamless check-out experiences for both merchants and customers alike.
The acquisition of Judopay will expand Fabrick’s proprietary technology enabling the company to offer a better service to merchants who will be able to manage more efficiently all the financial and data flows involved in the payments process from a single point, even when taking payments from multiple gateways.
Judopay currently handles over 60 million transactions a year worth over €2 billion and has partnered with major companies such as KFC, PaybyPhone group, and Autocab.
The company has also been a launch partner for Apple in launching Apple Pay in-app payments in the UK, and Mastercard to enhance Click2Pay and Pay by Bank App.
Paolo Zaccardi
Paolo Zaccardi, CEO, and Co-Founder of Fabrick commented,
“At Fabrick, we have always seen the governance and development of new payment methods and processes as a cornerstone of the new era of embedded finance enabled by evolving models.

In this regard, the platform developed by Judopay seamlessly integrates and enhances our Payment Orchestra™ solution and is in line with our strategic vision of Open Payments.

Jeremy Nicholds
Jeremy Nicholds, CEO of Judopay, commented,

“Joining a company like Fabrick provides a great opportunity for us to enhance our solutions and platform and work with more companies in more markets in Europe.

Thanks to the integration of our solution with those of Fabrick we will be able to find new tools and ideas to support and manage their customers and all merchants”.


Featured image credit: Paolo Zaccardi CEO, and Co-Founder of Fabrick, Jeremy Nicholds CEO of Judopay. Background image edited from Freepik
]]></description><link>https://fintechnews.eu/fabrick-acquires-mobile-payments-firm-judopay-expands-footprint-in-the-uk</link><guid>3201</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Fabrick Acquires Mobile Payments Firm Judopay, Expands Footprint in the UK</dc:text></item><item><title>Digital Pocket Money App Now in Use at Nidwaldner Kantonalbank</title><description><![CDATA[Pocket money is usually still given „cash on the nail“. In a world where cashless payments are on the rise and a life without a smartphone is no longer conceivable, this seems outdated and obsolete. Why shouldn’t children have their pocket money transferred to an account like their parents’ salary and be able to manage it on their smartphone?
For this reason, Inventx set to work with GFT as an implementation partner to develop a mobile app that enables the management of the pocket money. The result is a white-label solution «DB4Kids».
Recently, three Swiss banks have started offering their clients their own banking packages based on the «DB4Kids» application, including an account, card, and app. Following the Graubündner Kantonalbank’s Gioia Kids and the St. Galler Kantonalbank’s MiniBank, which have been addressing younger target groups earlier, the Nidwaldner Kantonalbank has now also added its Noldi app for its youngest customers in its portfolio. This is already the third Swiss cantonal bank to rely on the white-label solution, which helps financial institutions to familiarise young target groups with the topic of money and digital banking in a playful way.




   



    
   


   








”We see it as our responsibility to help children handle money. With our Noldi app, we link this important and at the same time complex topic in a playful way,”
explains Nicole Lüthy, Head of Private Clients and Member of the Executive Board of NKB.
Nils Reimelt
“The successful collaboration with GFT and Inventx has enabled us to launch a new digital banking product for our young clients aged between 6 and 14. We are thus creating the basis for a lifelong relationship with this customer group,”
emphasises Nils Reimelt, Head of Digital Banking, St. Galler Kantonalbank.
Heinz Ehrsam
Heinz Ehrsam, Managing Director of the implementation partner GFT Switzerland AG, outlines the potential:
” The focus in the banking sector is on customer centricity. With Digital Banking 4 Kids (DB4K), children learn how to handle finances on their smartphones in a playful way. Parents can support their children via their own online banking. Due to the integration, parents have the detailed financial overview at any time.”
Pascal Wild, Head of Banking Inventx AG adds:
„With this new app, we have developed a cross-generational product that all age groups can truly enjoy. The corporate design can be adapted to the specific parameters of each bank. With the use of APIs, a direct connection to all core banking systems is also possible. “
The functions of the mobile app include:

management of the pocket money in a pocket money account
set goals to save money and allocate the available balance to these virtual savings-goal-accounts
easy to use and suitable for the specific age groups
clear representation of income and expenditure for children and parents

Digital Banking 4 Kids – The Swiss Solution to manage pocket Money digitally.
The Digital Banking 4 Kids app builds a strong relationship with customers by giving parents and children an incentive to interact with their bank on a regular basis. By being able to view income and expenses, as well as define and track goals to save money together, parents can encourage their children’s financial education and responsibility in handling money.
A strong partnership between Inventx, the Kantonalbank and GFT
GFT developed the underlying white-label solution with a mobile app for children and a web cockpit in just nine months. The GFT team worked hand in hand with the Inventx product owner and representatives of the pilot banks. This constellation enabled a co-creation approach to implement the optimal user experience of the mobile and web application.
Read the complete success story here.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/digital-pocket-money-app-now-in-use-at-nidwaldner-kantonalbank</link><guid>3200</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Digital Pocket Money App Now in Use at Nidwaldner Kantonalbank</dc:text></item><item><title>Investing.com Acquires Streetinsider.com for $10M USD</title><description><![CDATA[Investing.com, a platform for financial data, tools &amp; news accessed by more than 60 million retail investors monthly, announced it recently completed the acquisition and integration of Streetinsider.com, a premium source for market moving breaking news on equities.
According to Axios, Investing.com pays 10 million USD for Streetinsider.
Since 1999, StreetInsider has given Wall Street’s elite investors a real-time, inside-look at the markets, providing access to information that’s only available to a select group of market players. The outlet separates itself from other news services in its commitment to producing the quickest commentary of market-moving events around the world.




   



    
   


   








Investing.com will embed a variety of StreetInsider’s core news services – including the famous Hot list, Rumors, Trader talk, Momentum Movers and Trading Halts feeds – into the company’s mobile apps and website serving over 690 million users globally.
These brand-new enhanced Breaking feeds will feature a combination of free and pay-wall-gated content, available to InvestingPro subscribers, the premium subscription service for better investor decision making from Investing.com. StreetInsider will continue to operate as a stand-alone service, keeping selected feeds exclusively available through StreetInsider only.
Lon Juricic
“StreetInsider is thrilled to join the Investing.com team in the quest to level the playing field for all investors,”
said Lon Juricic, founder of StreetInsider.
“Crucially, Investing.com’s acquisition of StreetInsider acknowledges that in this ongoing ‘Information Age,’ content is king. We are eager to witness the forthcoming powerful impact of combining our next-generation on-the-spot stock market news and analysis with Investing.com’s real-time premium data, creating an unprecedented potent toolbox for any retail investor out there.”

After purchasing its domain name in December 2012, Investing.com’s traffic has skyrocketed from 50 million pageviews per month in 2013, to 400 million in 2016, to more than 4 billion today. With 33 language editions and users in 136 countries, the financial markets platform is now ranked the top financial website worldwide, according to SimilarWeb, in addition to ranking in the top two sites globally for crypto reach.
Investing.com offers real-time data, quotes, charts, financial tools, breaking news, and analysis across 250 exchanges around the world. In addition to the global stock markets, Investing.com covers commodities, cryptocurrencies, world indices, bonds, funds, ETFs, and world currencies, offering quick access to premium financial tools, covering over 200,000 financial instruments.

This article first appeared on fintechnews.sm


Featured image credit: Lon Juricic, founder of StreetInsider and Shlomi Biger, Chief Product Officer at Investing.com  Edited from Freepik
]]></description><link>https://fintechnews.eu/investingcom-acquires-streetinsidercom-for-10m-usd</link><guid>3199</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Investing.com Acquires Streetinsider.com for $10M USD</dc:text></item><item><title>UK Retirement Saving Fintech Raises $95m Series E Funding</title><description><![CDATA[Smart, a London-headquartered fintech in the global retirement savings market, announces it has closed its $95m Series E funding in a round led by Aquiline Capital Partners LLC , a private investment firm based in New York and London.
Existing investors participating in the round include: Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays and Natixis Investment Managers.
Funds from this investment round will bolster Smart’s global expansion plans, building on the company’s strong performance in Europe, the US, Middle East and Asia. Proceeds from the funding round will also help finance near-term acquisitions and accelerate Smart’s investment in and distribution of its proprietary retirement savings technology platform, Keystone. The market-leading growth and profitability of its UK-based Smart Pension business is underpinned by the scalability of the Keystone platform.




   



    
   


   








Smart has experienced a period of exceptional growth, with group revenue of £67m in 2022, a 65% increase on the previous year. In February 2023, Smart was ranked among Europe’s fastest-growing companies by the Financial Times.
Smart today already has over £5.5 billion in Assets Under Management (AUM) on its platform and is expected to exceed £10bn by the end of June 2023 following this Series E funding. Growth has been driven by the accelerating global demand for modern, digital retirement savings technology, the success of Smart Pension in the UK and strategic M&amp;A.
Established in 2014 by Andrew Evans and Will Wynne in the wake of the UK’s roll out of mandatory workplace pension auto-enrolment, Smart owns and operates one of “the big four” UK auto-enrolment master trusts, Smart Pension, serving more than one million savers and 70,000 employers.
The group’s ongoing and future success is underpinned by Keystone, the world’s first global, cloud-native, workplace retirement savings platform. Keystone provides all the infrastructure needed to deliver modern, digital retirement savings for governments and financial services partners around the world, supporting the wave of change currently transforming the $62 trillion AUM global pensions sector.
A successful technology export story for the UK, the platform already powers numerous retirement savings solutions around the world. These include a partnership with one of Ireland’s most well-known financial services institutions, pooled retirement solutions rolled out nationally across the US and a partnership with Zurich Workplace Solutions (Middle East), part of the Zurich Insurance Group, on the Dubai government workplace saving scheme.
As populations age and governments struggle with high national debt and large fiscal deficits, the responsibility to save for retirement is increasingly being pushed, by regulation, onto individuals and employees via the workplace. To help them close the retirement savings gap, governments and large-scale financial institutions are leaning on Smart’s Keystone technology to ensure that people are saving more and are empowered to manage their money effectively. In pursuit of these crucial objectives, Keystone provides, at scale, a leap forward in digital experience, bringing the retirement savings sector in line with advanced technology sectors such as ecommerce and online banking.
Jeff Greenberg Aquiline
Jeff Greenberg, Chairman and CEO of Aquiline, said:
“Smart’s distinct retirement technology leadership coupled with Aquiline’s deep experience in the retirement technology industry makes this a compelling investment, as does the growing global need for better retirement saving technology. Smart has consistently delivered impressive commercial growth, and is backed by an array of top-tier investors whom we are delighted to join. Under the leadership of Andrew and Will, we have every confidence that Smart is a multi-billion pound company in the making.
“The UK remains at the forefront in the digitalisation and democratisation of retirement savings and we are excited to support a UK leader in the sector as it helps to solve pressing issues facing savers, financial institutions and governments across the world.”
The co-founders of Smart, Andrew Evans and Will Wynne, said:
Smart Co-Founders Andrew Evans and Will Wynne
“This investment is strong recognition of Smart’s success and journey to date, and highlights the immense opportunity that lies ahead. It is also a resounding vote of confidence in the UK’s fintech sector, and its leadership in financial services provision.
“We are on a mission to transform retirement, savings and financial wellbeing. We are the global leader in retirement technology and our industry-leading platform, Keystone, is being deployed by the biggest, most successful financial institutions around the world. This is a $62 trillion global sector in the early stages of being disrupted, and we are uniquely positioned to take advantage of that. We have already reached scale and profitability in the UK, with Smart Pension now serving in excess of one million savers, and this backing allows us to achieve that scale and profitability in our global markets across the group. We welcome Aquiline to our board and we’re incredibly excited for the years ahead.”
Smart continues to strengthen its board of directors, with Charles Janeway of Aquiline joining as non-executive director.
Lazard acted as financial adviser to Smart in relation to the Series E funding round. Perella Weinberg acted as financial adviser to Aquiline.

Featured image credit: Smart Co-Founders Andrew Evans and Will Wynne
]]></description><link>https://fintechnews.eu/uk-retirement-saving-fintech-raises-95m-series-e-funding</link><guid>3198</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>UK Retirement Saving Fintech Raises $95m Series E Funding</dc:text></item><item><title>U.S. Fintech 8fig Raises US$140M Series B Led by Koch Disruptive Technologies</title><description><![CDATA[Fintech firm 8fig announced that it has secured a US$140 million Series B funding round in April 2023 led by Koch Disruptive Technologies (KDT). This brings 8fig’s total funds raised to US$196.5 million.
The funding round was also joined by existing investors Battery Ventures, Localglobe, Hetz Ventures, the Jesselson family, and Silicon Valley Bank, a division of First Citizens Bank.
Founded in 2020, 8fig provides flexible funding and supply chain planning tools to e-commerce businesses and has a presence in the U.S. and Israel.




   



    
   


   








8fig had recently introduced a mobile app that allows customers to manage their funding plan on the go, as well as a freight management and payment feature.
In the future, 8fig plans to add enhanced financial management capabilities, banking solutions, and cash flow prediction models.
8fig’s platform will incorporate alerts and insights based on business performance and collaborate with e-commerce marketing agencies to build a tool that evaluates customers’ cash flow health and needs, lowering risk through actionable insights and alerts.
The company has provided online sellers with over US$500 million and increased its client base by 900% and annual revenue by 800% in 2022 alone. The firm also grew its global workforce from 30 to 90 employees in one year.
Yaron Shapira
“The global macroeconomic challenges we are experiencing make it difficult for e-commerce business owners to access the resources they need to succeed. 8fig is providing these online sellers with the financial support and tools necessary to thrive in any economic climate.

The latest funding round has proven that the market has great confidence in 8fig and the important role 8fig continues to play in the ongoing growth of e-commerce.”
said Yaron Shapira, Co-founder and CEO of 8fig.


This article first appeared on Fintech News America. 


Featured image credit: 8Fig Team
]]></description><link>https://fintechnews.eu/us-fintech-8fig-raises-us140m-series-b-led-by-koch-disruptive-technologies</link><guid>3197</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>U.S. Fintech 8fig Raises US$140M Series B Led by Koch Disruptive Technologies</dc:text></item><item><title>Mastercard Launched Open Banking for Account Opening Solution</title><description><![CDATA[Innovations in finance and payments are unlocking new experiences for consumers and fintechs alike.
As of 2022, 78 percent of adults in the U.S. prefer to bank via a mobile app or website. As more people open accounts and manage their finances online, digital transaction volumes are projected to reach nearly $15 trillion by 2027. With that growth comes more sophisticated fraud, such as account takeover and synthetic identity fraud, impacting consumers and businesses.
To further its vision of providing safe, simple, and smart choices in payments and financial services, Mastercard is launching an enhanced Open Banking for Account Opening solution. This innovation integrates account owner verification with identity insights into a single API to help businesses meet their customers’ needs for security and transparency.




   



    
   


   








Chris Reid
“At Mastercard, trust is our business. Our digital identity and open banking networks instill confidence on both sides of an interaction. By securing our online ecosystem, we are delivering on our promise to bring more people and businesses into the digital economy,”
said Chris Reid, EVP, Identity Solutions, Mastercard.
Mastercard Open Banking for Account Opening verifies a consumer’s account ownership and their identity in real-time. It also prefills account and routing data, minimizing errors. The result is a simpler, faster, and safer way to open a new account for the 93 percent of consumers likely to use digital payments this year. For financial institutions and fintechs, such as MoneyLion, a Mastercard partner, it means a single, simple solution to verify an individual opening a new account while minimizing friction and risk of fraud.
Dee Choubey
“At MoneyLion, we see people turn to digital financial services every day for a simple and frictionless user experience. It is crucial that we deliver service excellence from the beginning of our customer relationship by providing an experience that streamlines the account opening process,”
said Dee Choubey, Co-Founder and CEO of MoneyLion.
“We are proud to work with innovative and industry-leading partners like Mastercard to offer cutting-edge digital account opening solutions for our suite of financial products that let us prioritize convenience, security, and accessibility for our customers.”
Open Banking for Account Opening draws on the safe exchange of consumer-permissioned data from open banking and identity data network leveraging industry standards, machine learning, and fraud prevention programs. This helps fintechs and banks confidently know who their customers are and that they own their linked accounts, promoting secure digital account opening for the following:

Digital wallets
New bank and/or investment accounts
Distributions
Account-based payments


This article first appeared on fintechnews.am

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/mastercard-launched-open-banking-for-account-opening-solution</link><guid>3195</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Mastercard Launched Open Banking for Account Opening Solution</dc:text></item><item><title>Digital Onboarding von Migros Bank/Viseca gewinnt Best of Swiss Web Awards</title><description><![CDATA[Dank dem Digital Onboarding von der Migros Bank und Viseca ist es heute möglich, innert weniger Minuten zu einer neuen Kreditkarte zu kommen. Herzstück ist der eigens dafür entwickelte digitale Antragsprozess inklusive Instant Issuing.
Dieser ermöglicht es, traditionell langwierige Prozesse wie Kundenidentifikation, Kreditwürdigkeitsprüfung und die Eröffnung eines Kreditkartenkontos zu automatisieren und so massiv zu verkürzen. Das ist ein Novum in der Schweiz.




   



    
   


   








Dafür gab’s nun 2x Silber an den «Best of Swiss Web»-Awards. Es ist dies bereits die zweite Auszeichnung für den Antragsprozess: Im November 2022 wurde das Digital Onboarding im Rahmen der «Best of Swiss Apps» in der Kategorie «User Experience / Usability» bereits einmal mit Bronze ausgezeichnet.

Manuel Kunzelmann
Manuel Kunzelmann, CEO der Migros Bank, freut sich sehr über die gewonnene Auszeichnung:
«Das einfache und schnelle Digital Onboarding ist nebst dem hervorragenden Preis-Leistungs-Verhältnis ein wichtiger Erfolgsfaktor der Cumulus Kreditkarte und hat massgeblich zur gelungenen Kundenresonanz beigetragen. Wir haben viel in die Digitalisierung unserer Dienstleistungen und Produkte investiert und zählen inzwischen zu den digitalsten Retailbanken der Schweiz. Unser Ziel ist es, den Menschen in der Schweiz unsere Finanzdienstleistungen mit wenigen Klicks zugänglich zu machen.»
Tobias Wirth
Tobias Wirth, Head Digital Business &amp; Innovation von Viseca:
«Wir freuen uns riesig über die neuerliche Auszeichnung für das Digital Onboarding. Als führendes Schweizer Fintech im Payment-Geschäft wollen wir die Entwicklung im Schweizer Zahlmarkt aktiv mitgestalten. Die Auszeichnung ist vor diesem Hintergrund eine klare Bestätigung dafür, dass wir bei Digitalisierung und Innovation die richtigen Prioritäten setzen und Lösungen entwickeln, die unsere Kundinnen und Kunden begeistern und im Markt erfolgreich sind.»
So einfach funktioniert das Digital Onboarding
Der digitale Antragsprozess ist denkbar einfach: Mit dem Smartphone QR-Code scannen und – falls noch nicht vorhanden – die one App herunterladen. Alternativ kann man den Prozess auch über den entsprechenden Webantrag auf dem Smartphone oder Desktop initiieren. Es folgt eine automatisierte Identifikationsprüfung mittels ID und Selfie. Danach kann man direkt in der App die persönlichen Angaben vornehmen und – sofern gewünscht – ein Kartenbild festlegen. Im Hintergrund laufen derweil innert weniger Sekunden die Kreditwürdigkeitsprüfung sowie weitere Kontrollen. Ist alles in Ordnung, steht die neue Kreditkarte kurz darauf digital in der one App zur Verfügung und kann im Internet eingesetzt werden. Wer über Apple Pay, Google Pay, Samsung Pay oder eine andere Mobile Payment-Lösung verfügt, kann die Karte zudem umgehend auch am POS verwenden.
Das Digitale Onboarding inklusive Instant Issuing entstand im Auftrag der Migros Bank, die ihren Kundinnen und Kunden ein durchgehend digitales Erlebnis bieten möchte. Umgesetzt wurde das Vorhaben von Viseca in Zusammenarbeit mit «Die Ergonomen Usability» und BlueGlass Interactive AG. Die Cumulus Kreditkarte der Migros Bank ist denn auch die erste Kreditkarte der Schweiz, die dank dem neuen Antragsprozess nach erfolgreicher Prüfung umgehend eingesetzt kann. Weitere Kreditkarten von Viseca folgen.
]]></description><link>https://fintechnews.eu/digital-onboarding-von-migros-bankviseca-gewinnt-best-of-swiss-web-awards</link><guid>3196</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Digital Onboarding von Migros Bank/Viseca gewinnt Best of Swiss Web Awards</dc:text></item><item><title>Revolut Rolls Out ETF Trading for European Users</title><description><![CDATA[Revolut, a global neobank with more than 29 million customers worldwide, announced that it has introduced ETF trading for its European customers.
The neobank’s customers across the European Economic Area (EEA) will have access to more than 100 ETFs with the minimum investment being 1 EUR.
The new offering will cover the majority of global indexes, including S&amp;P 500, NASDAQ, DAX and FTSE. Users will be able to diversify their portfolios by investing in ETFs covering not only equities, but also bonds and commodities.




   



    
   


   








Users will be able to check the performance of their ETFs in real-time with live watchlists, trading charts, and market news from within the app itself.
This latest offering has been developed with Upvest, a Berlin-based infrastructure fintech specialising in highly scalable investment APIs.
Revolut said that it has plans to add European listed stocks and other trading products to its list of offerings in the upcoming months.
Rolandas Juteika
Rolandas Juteika, Head of Wealth and Trading for EEA at Revolut said,
“Our aim is further expanding our offering in the wealth &amp; trading space. The launch of ETFs follows the successful launch of Revolut Securities Europe UAB trading entity and expansion of US listed stocks across EEA last March.

In addition to that, we will soon be launching a comprehensive range of other investment products – including stocks listed in EEA markets, mutual funds, bonds, robo-advisory services and a more sophisticated trading platform for experienced traders.”
Martin Kassing
Martin Kassing, CEO and Co-founder of Upvest said,
“With our Investment-API, it has never been easier to offer investment products across Europe and to give our clients the maximum freedom to program the API tailored to their needs.

Revolut is one the world’s largest neobanks and selects only the best vendors. We are excited to work with them. The cooperation marks a new chapter for our company.”
]]></description><link>https://fintechnews.eu/revolut-rolls-out-etf-trading-for-european-users</link><guid>3194</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Revolut Rolls Out ETF Trading for European Users</dc:text></item><item><title>Top 10 Finance &amp; Insurance Finalists of The Swiss &gt;&gt;venture&gt;&gt; Startup Competition</title><description><![CDATA[The &gt;&gt;venture&gt;&gt; startup competition is a leading startup competition in Switzerland that aims to promote and support early-stage startups while fostering innovation and entrepreneurship. The competition comprises several industry verticals, and the Finance &amp; Insurance industry vertical is one of the most recent ones, being added in 2019.
The finalists for the 2023 Finance &amp; Insurance industry vertical of the &gt;&gt;venture&gt;&gt; startup competition have been announced. The following is a list of the most promising and innovative Swiss startups in finance and insurance (listed in alphabetical order):

Ascentys

Ascentys automates the ESG assessment and reporting of companies, turning what is typically a complex, frustrating exercise into an effortless experience. Ascentys’ SaaS based, automated ESG assessment and reporting allows for the smooth delivery of a clear, practical, actionable ESG assessment report outlining what customers do well and what they should improve. Simple, fast, accurate and cost-efficient.

Alquant

Alquant offers a software-as-a-service (Saas) solution for asset managers to create their own customized digital investment product showroom, transforming the way investment products are marketed.

Everon

Everon democratizes access to Swiss Private Banking by building an ecosystem to provide affluent individuals worldwide with professional financial services at scale. How? Through a mobile app with a fully digital onboarding, an awarded portfolio management engine and an API infrastructure for business partners.

Frigg

Frigg builds software to upgrade sustainable finance and streamline the financing workflow from origination, securitization, and financing to post-financing follow-up. Their target market consists of small to mid-sized renewable energy developers who struggle with manual, costly, and time-consuming financing processes. Frigg builds on awarded government-grants and strategic partnerships with renewable energy stakeholders to achieve its goals.

Grape health

Grape is the first Swiss fully digital employee insurance that invests in employees’ physical and mental health. Grape provides a faster service and more accurate pricing for customers based on new data points and machine-learning techniques. This allows Grape to invest into what matters most – the health of employees. Grape pays for prevention services for its clients and makes their teams healthier.

iAccess Partners

iAccess Partners gives qualified investors access to top-tier Private Equity funds on a fully digital basis starting with low minimal investment amounts. The investment opportunities, which are accessible through iAccess Partners and a specific CH-ISIN (bankable product), are multi-billion, top-tier, flagship Private Equity funds.

Mavuno

Mavuno is an Agri &amp; FinTech startup empowering African smallholder farmers with satellite imagery and machine learning. Mavuno allows for sustainable farming practice, access to organic farm inputs and financing to drastically increase harvest yields. In 5 years, Mavuno aims to become an established pan-African platform with at least 1 million registered smallholder farmers as beneficiaries.

Sway Finance

Sway is a banking platform focusing on banking aggregation and invoice management. It enables clients to operate and monitor their liquidities, payments and invoices efficiently, thanks to artificial intelligence, giving real-time, money-saving and money-making recommendations.

The INGAGE Institute

The INGAGE INSTITUTE offers digital innovative solutions for insurance companies to effectively train their learners, employees and clients. Here, they focus on tools to increase customer value and to reduce customer acquisition costs. Their goal is to become the leading training company specialized in insurance within 5-7 years.

Yainvest

Yainvest helps banks and fintechs generate more investment returns for their clients with applied behavioural finance individual investor profiles. Here, the investment strategy selection is based on software as a service (SaaS).

The finalists will pitch their ideas to a panel of experts who will select the winner of the Finance &amp; Insurance industry vertical. The winner will receive a prize of CHF 30,000 and the opportunity to compete in the final round of the &gt;&gt;venture&gt;&gt; startup competition.
The top 3 of each of the industry verticals are considered winners and will then compete in the final round of the competition, where they will be ranked and have the opportunity to win up to CHF 150,000 and pitch to the &gt;&gt;venture&gt;&gt; Advisory Board.
Overall, the &gt;&gt;venture&gt;&gt; startup competition is an excellent platform for early-stage startups to showcase their innovative ideas, gain exposure, and receive recognition and support from the Swiss startup ecosystem. The Finance &amp; Insurance industry vertical finalists have some exciting solutions that could potentially revolutionize the industry, and we look forward to seeing who will emerge as the winner.
The winners will be revealed at the Award Ceremony on June 26, 2023 at the SwissTech Convention Center in Lausanne, Switzerland. The award show is free and open to all to attend. For more information, visit www.venture.ch.
]]></description><link>https://fintechnews.eu/top-10-finance-insurance-finalists-of-the-swiss-venture-startup-competition</link><guid>3193</guid><author>Administrator</author><dc:content /><dc:text>Top 10 Finance &amp; Insurance Finalists of The Swiss &gt;&gt;venture&gt;&gt; Startup Competition</dc:text></item><item><title>Apple’s New Savings Account is a Hit</title><description><![CDATA[Apple’s new high-yield savings account is making a splash, drawing in nearly US$400 million worth of deposits on launch day. By the end of the first week, roughly 240,000 accounts had been opened, bringing in as much as US$990 million in deposits, sources familiar with the matter told Forbes earlier this month.
Launched on April 17, Apple’s Savings account is attracting customers for its high annual return of 4.15%.
An analysis by AppleInsider shows that the Apple Savings account is highly competitive and a strong contender among savings account products available in the US.




   



    
   


   








It offers a higher return than most savings account products provided by most traditional banking and financial institutions, including Barclays (3.8% APY), American Express (3.75%), Bank of America (0.01%), and Goldman Sachs’ own high yield savings account housed under its Marcus consumer brand (3.9%).
Apple’s Savings account is offered through a partnership with Goldman Sachs Bank USA, the unit of the banking group that runs Marcus. The bank also powers Apple’s credit card, Apple Card.
Apple Savings versus other savings account products in the USA, Source: AppleInsider, April 2023
Apple’s new Savings account
Apple’s new Savings account is available to Apple Card credit cardholders. Users must be over 18 years old and must reside in the US. Apple doesn’t charge any fees for its Saving account, which also has no minimum deposits nor minimum balance requirements.
Users set up and manage their Savings account directly from Apple Card in the Apple Wallet mobile app. The app also allows them to withdraw funds by transferring them to a linked bank account or to their Apple Cash card without having to pay any fees, make direct deposits to Apple Savings using an account number and routing number, and track their account balance and interest accrued over time.
Apple’s Savings account dashboard, Source: Apple, April 2023
Once set up, Apple Card spend rewards, called Daily Cash, are automatically deposited into the Savings account, allowing customers to earn interest on the rewards they get back from their credit card purchases.
Prior to the Savings account, Daily Cash rewards were automatically deposited into Apple Cash, a prepaid digital card held in the Apple Wallet app and issued by Green Dot Bank.
Advisory firm Crone Consulting estimates that US$3.8 billion is deposited into Apple Cash from the Apple Card each year, implying that these funds will now be moving into the Apple Savings account.
The 2023 US banking crisis
The rollout of Apple’s new Savings product comes at a time when US banks are struggling to maintain their deposit bases after a wave of bank failures shook the sector.
Silvergate Bank and Signature Bank, both with significant exposure to cryptocurrency, failed in March 2023 in the midst of turbulence in that market. Silicon Valley Bank (SVB) collapsed that same month after a bank run was triggered following the sale of its Treasury bond portfolio at a large loss, causing depositor concerns about the bank’s liquidity.
The banking sector further trembled this month after the FDIC took over failed lender First Republic Bank and sold the bank to JPMorgan. JPMorgan gained about US$92 billion in deposits from the deal.
Apple is one of the numerous tech companies that are taking advantage of the disruption currently faced by the tradition finance industry. Just last week, stock trading app Robinhood announced that it would be raising interest rates for its Robinhood Gold product to 4.65%, starting May 04.
Robinhood Gold is the paid premium membership offering of Robinhood, costly a monthly US$5. The program allows its members to earn interest on the cash they’re holding in their brokerage accounts, get larger instant deposits, tap lower margin investing rates and gain access to advanced market data as well as in-depth research from Morningstar.
Interests earned by Robinhood Gold members are paid out monthly and customers can track how much they’ve collected directly within the app. Customers can also instantly transfer funds from their brokerage account into their spending account to make purchases using their Robinhood Cash Card.
Apple is leveraging its massive user base of 2 billion active devices worldwide and strong brand to offer financial products and services intended to enhance the user experience, generate new revenue streams, and strengthen the company’s position as a leading technology and eventually a top financial services provider.
Some of the firm’s key financial services offerings include Apple Pay, a mobile payment and digital wallet service widely accepted at millions of merchants around the world; Apple Cash, a digital card and peer-to-peer payment service that lets users send and receive money in Messages and Apple Wallet; and Apple Pay Later, a buy now, pay later (BNPL) product launched earlier this year that allows users to split purchases into four payments spread over six weeks with no interests nor fees.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/apples-new-savings-account-is-a-hit</link><guid>3192</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Apple’s New Savings Account is a Hit</dc:text></item><item><title>What the Launch of SIC5 Instant Payments Will Mean for Switzerland</title><description><![CDATA[Globally, 63% of banks &amp; financial institutions picked instant payments as their top priority over the next 12 months. Meanwhile, some of the biggest developments in Switzerland will concern the Swiss Instant Clearing (SIC) network. 
During the latest webinar hosted by Fintech News Switzerland, payment professionals gathered to discuss the developing banking trends taking root in Switzerland and internationally this year, and why they will make a difference for the digital payments strategy in both the short- and long-term. 
Fintech and banking expert Urs Bolt, who acted as the moderator of the session, pointed out that the largest Swiss banks will be able to receive instant payments on the SIC network in 2024. 




   



    
   


   








He discussed instant payments alongside other general trends in Switzerland, but also in neighbouring countries with panelists Daniel Capraro, the Co-founder and Chief Product Officer of Swiss digital challenger bank Yapeal, and Bruno Kuderman, Senior Product Manager for Products &amp; Solutions, Banking Services at SIX, the Swiss financial market infrastructure operator. 
For the second half of the webinar, they were joined by Frederic Viard, the Director of Global Marketing and Financial Messaging, Bottomline Technologies. 
Instant payments doesn’t mean instant – near time is not real-time
Daniel said that at challenger bank Yapeal, they still see end-to-end timing of 10 seconds for “instant” payments, which fulfils most requirements. But in the broader payment context, such as for real-time checkout payments, it is still too slow and said the situation is the same in the UK. 
“We just learned from Daniel that ‘instant’ obviously doesn’t mean instant in its real sense,” 
said Urs.
Urs Bolt, moderator
“So it’s more like, maybe, near time and not real-time. I think the trend is clear speed. ‘Instant’ does not mean 100% instant as we see it. And that’s the reason why we have the intention to bring instant end-to-end, risk-free, in central bank money in Switzerland live by the year-end, in production by next year for all the major banks.”
said Bruno.
SIC5 to power real-time payments in Switzerland
Urs said this is what the SIC5 mandate by the Swiss National Bank (SNB) intends, which is to set a 10-second time-limit on end-to-end payments processing. Bruno says the more accurate comparison is with the European Payments Council’s SEPA Instant Credit Transfer scheme, more commonly known as SCT Inst, which has become the benchmark for participating banks in Europe.
Responding to a Q&amp;A question about Holland adopting SCT Inst as a “new normal” for payments in the country, Bruno commented that Holland has even customised its rules for customer payments with higher allowed amounts.
 “So ‘new normal’ is a term which must be interpreted from community to community. That’s what we have learned during the SIC5  project.”
Bruno Kuderman, Senior Product Manager, Products &amp; Solutions, Banking Services, SIX
Daniel added that the SIC5 instant payments will be available 24/7, which is not the case today. 
“And from that point of view, it’s really a great starting point. I think we need to figure out how fast traditional banks can adopt these payment methods as well.”
B2B payments use cases in Switzerland
From the B2B perspective, Daniel said being able to perform a direct settlement on every transaction would bring a lot of benefits for all participants. 
“So it’s directly settled, if I’m a merchant, I can directly use the money [immediately].”
He added that the goal was for the sender bank and the receiver bank at the last mile to have well digitised operations, “they are then able to process those payments requests and payment receipts instantaneously, then you have this great customer experience.”
Diving deeper into use cases for real-time payments in Switzerland, Daniel gave the example of online casinos which usually only pay out to a Swiss IBAN where the funds could take up to days to arrive in the account. 
Daniel Capraro, Co-founder and Chief Product Officer, Yapeal
“And that’s exactly a case where we enabled the casinos to have a counter to appeal, do an instant payment, and the recipient gets it instantaneously,” 
Daniel went on.
Bruno agreed with him and elaborated,
“And from that moment on, he can spend the money with the card, with any other payment rails, but he has the money received in his account. The SIC system is the Swiss interbank system and settles mass payments and high value payments within one system that is a specific feature within Switzerland, which does not exist in other countries.
So it is risk-free money transferred interoperably, so that any participants, and we talk about a potential of 300 participants, which covers all banks in Switzerland will be able to do such services – intrabank and interbank – so that’s the key, it’s not only a closed loop.”
Bottomline’s role to power real-time payments
With companies like SIX supplying the payments infrastructure, there are still issues for banks in Switzerland and elsewhere to overcome legacy systems as they transition towards Software-as-a-Service (SaaS) models.
Frederic said the first thing Bottomline will provide to the marketplace is connectivity to these new banking environments, “to be able to manage the lifecycle, the messages that must be exchanged to ensure that this instant payment processing is made accordingly.”
The end-to-end message processing then has to be managed, along with ensuring that the service is available on a 24/seven basis. Frederic highlighted that for banks to find these round-the-clock payments processing as reliable, many of what he terms “last mile components” would have to be tested to meet the new capacity requirements.
Frederic Viard, Director of Global Marketing and Financial Messaging, Bottomline Technologies
Frederic responded that the maturity of the market also played a part as there are no fragmentations in the Swiss payments market. Nonetheless, Switzerland could do with a “upgrade” to cope with instantaneous 24/seven availability, as future needs move towards an immediacy in customer experience expectations.
“So again, it’s not about really changing something which is required right now. But it’s predicting the future, enabling Switzerland as being the endpoint for instant payments cross-border, and building a new generation of services that will be required or that are already required by the new generation.”
The full webinar can be accessed via this link, if you enjoyed this content please consider subscribing to our YouTube channel Fintech Fireside Asia.

]]></description><link>https://fintechnews.eu/what-the-launch-of-sic5-instant-payments-will-mean-for-switzerland</link><guid>3191</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>What the Launch of SIC5 Instant Payments Will Mean for Switzerland</dc:text></item><item><title>Frankfurt University Forms Master in Blockchain &amp; Digital Assets</title><description><![CDATA[Frankfurt School of Finance Center and its Blockchain center designed a new four semester long post-experience master program (MSc) last year. The Frankfurt School’s goal is to provide the expert knowledge necessary to students looking to shape and lead blockchain innovation around the globe and in all industries.
Technical and economical understanding on the topics of blockchain, digital assets (including Bitcoin and Ethereum), DeFi, Web3, tokenization, smart contracts, NFTs, financial technology, metaverse, digital euro, CBDCs, legal frameworks and entrepreneurship are part of the curriculum that is taught in seven block weeks and further deepened during the students’ master thesis. Application deadline is autumn 2023, and lectures will commence in October 2023.
During the study program, they will also make an excursion to the crypto valley in Switzerland, students will also setup up a Bitcoin node, do analytics of on-chain data and do a “coding camp” to understand smart contracts.




   



    
   


   












                                                          Website: Master in Blockchain and Digital Assets (frankfurt-school.de)
Tailored to students who have completed their first academic degree (min. Bachelors or equivalent) and have taken their first practical steps in the world of business with a minimum of one year of relevant work experience, the Master in Blockchain &amp; Digital Assets course offers a way to take your career to the next level by adding innovative and revolutionary components, competences and methodology as well as objectives for their businesses.
The graduates are qualified to lead in areas such as digital strategy, digital asset management, growth management, business development, decentralized application development, blockchain development, policymaking and many more. Blockchain is considered by many to be one of the most important developments in recent history. This course is meant to prepare you to take on a leading role in the development and expansion of this technology.
The programme is specifically tailored to the needs of managers or professionals who wish to stay fully employed throughout their studies while gaining expertise to develop their businesses further.
What is the Masters’ program about?
In this seven week block program students will be taught how blockchain builds the infrastructure for future financial markets and how companies can leverage the new technology to provide more security, transparency, efficiency and digitalization. Blockchain technology will be the basic infrastructure for finance and capital markets in the future.
This includes crypto assets and enterprise DLT solutions. With this, a transformation of operating cycles, design and development of products and organisational structures can be expected in any business sector. Existing assets will be tokenised, resulting in digital securities, money will be running on blockchain ledgers, crypto assets are now an asset class on their own.




In order to get up to speed, step one is to cover the technical background such as DLT technology, blockchain, DeFi, tokenization, digital money, smart contracts and the coding thereof. In the second step, they look at applications for advancing blockchain solutions and the design of suitable strategies, as well as their regulation through law and ethics. In the third step, you will have the choice between the Blockchain in Business or the digital strategy elective.
In the seventh module called “Blockchain in Business, students will identify emerging topics in DeFi and FinTech while understanding their impact on entrepreneurship, sustainability and innovative business models. In the digital strategy module, they will focus on law and data protection, ethics and building digital strategy for businesses.
What are the highlights of this master?
The curriculum, taught completely in English, not only keeps pace with emerging topics and trends but also offers an excursion to Zurich, Switzerland, one of the most renowned crypto and blockchain hubs worldwide. This will give students the opportunity to discuss and network with industry experts. To gain hands-on experience with Bitcoin, students will be building a Bitcoin Lightning Node to go beyond theoretical understanding of the subject.
The smart contract boot camp as one of the week long modules further deepens the learnings and prepares students to drive blockchain adoption in their industries regarding products, business operations and new business models. The next intake will start in October 2023.
Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/frankfurt-university-forms-master-in-blockchain-digital-assets</link><guid>3190</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Frankfurt University Forms Master in Blockchain &amp; Digital Assets</dc:text></item><item><title>LSEG Forms Long-Term Strategic Partnership With Barclays</title><description><![CDATA[London Stock Exchange Group (LSEG) and Barclays have signed a new multi-year strategic partnership. Building on their longstanding relationship, the agreement includes a wide range of capabilities to support Barclays across the full ecosystem of businesses to enhance delivery for customers and clients and prepare for the next generation in financial services.
The new collaboration will see LSEG provide Barclays access to its market-leading data, insights and capabilities, workflow solutions and feeds, as well as supporting Barclays in its digitalisation journey, cloud adoption and customer platform enhancements. Barclays is also in discussions with LSEG and Microsoft to become a member of their Design Partner Programme, which is in the process of being established following the strategic partnership that was announced between the two organisations in December 2022. The Design Partner Programme will seek to gather and analyse data and insights from customers while validating product concepts to ensure delivery of real and meaningful customer solutions to the market. LSEG and Barclays are committed to working together to enhance and develop LSEG products and services.
Ron Lefferts
Ron Lefferts, Group Head of Sales &amp; Account Management, LSEG said:




   



    
   


   








“We are delighted to have signed a new multi-year agreement with Barclays. They have been a long-standing, highly valued customer for a number of years and the strategic partnership will see us work together across a broad range of global, multi-asset class products and services.”
Paul Compton
Paul Compton, Global Head of the Corporate and Investment Bank (CIB), and President of Barclays Bank PLC commented:
“LSEG is a long-term client and partner to Barclays and this engagement will see us working together to enhance existing offerings and develop new and innovative products and services. Continuing this relationship will maximize how we deliver results for clients globally, accelerate our digital transformation and advance our goals of consolidating relationships with a smaller number of global strategic market data vendors.”

Featured image credit: Ron Lefferts, Group Head of Sales &amp; Account Management, LSEG and Paul Compton, Global Head of the Corporate and Investment Bank (CIB), and President of Barclays Bank PLC 
]]></description><link>https://fintechnews.eu/lseg-forms-long-term-strategic-partnership-with-barclays</link><guid>3188</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>LSEG Forms Long-Term Strategic Partnership With Barclays</dc:text></item><item><title>Multibanking for Private Customers? Swiss Banks Sign Memorandum of Understanding</title><description><![CDATA[A group of banks in Switzerland headed by the Swiss Bankers Association (SBA) has signed a memorandum of understanding – with the goal of enabling initial multibanking offerings for individuals by mid-2025.
SBA and its member institutions view the opening of interfaces, as well as cooperation among banks and with third-party providers, as a great opportunity for the Swiss financial centre. The market-based open finance approach is the right way to take the existing offering forward and continue to offer simple, innovative and secure financial services in future.
To support the implementation of concrete use cases in Switzerland, the Swiss Bankers Association (SBA) , along with interested member institutions, has drawn up a memorandum of understanding (MoU) designed to enable the development and rollout of initial multibanking offerings for individuals.




   



    
   


   








The MoU published this week expresses the signatories’ intention to work actively towards their shared goal, enable the development of initial multibanking offerings for individuals, and contribute to resolving issues across institutions. In particular, it aims to improve interoperability and data exchange between banks, fintechs and other financial institutions, thus giving customers the most comprehensive possible overview of their finances.
The sector’s commitment is an active step towards achieving the open finance objectives for the Swiss financial centre formulated by the Federal Council at the end of 2022. The MoU is seen as an important move on the part of the Swiss banking sector, since it will encourage collaboration between the various players involved in this use case, including banks, tech firms, infrastructure providers and fintechs, as well as supporting further innovation and the digital transformation of the sector in Switzerland.
Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/multibanking-for-private-customers-swiss-banks-sign-memorandum-of-understanding</link><guid>3189</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Multibanking for Private Customers? Swiss Banks Sign Memorandum of Understanding</dc:text></item><item><title>EU Parliament Economic and Monetary Policies Unit Cautions ECB on Digital Currency Launch</title><description><![CDATA[The European Central Bank (ECB) is considering launching a retail central bank digital currency (CBDC), seeking improved payment efficiency, innovation and monetary sovereignty. However, there are several concerns about whether a so-called digital euro would be a good idea.
Against this backdrop, the central bank should refrain from issuing a CBDC hastily, and should wait until new favorable elements in favor of the initiative emerge, a new paper by the Economic Governance and EMU Scrutiny Unit, a department within the European Parliament responsible for monitoring and analyzing economic and monetary policies, says.
The document, prepared at the request of the European Parliament’s Committee on Economic and Monetary Affairs (ECON), argues that the risks and imponderables of a CBDC appear to be stronger than the arguments in favor of a digital euro.




   



    
   


   








One concern outlined in the paper is that a CBDC may change the relationship between the central bank and commercial banks, and that outcomes are impossible to predict.
The ECB has said that in the event of a retail CBDC being launched, front-end functions of the payment and deposit ecosystem would be outsourced to private institutions, including banks and payment services providers. These intermediaries would be in direct contact with end-users, while the ECB would manage centralized accounts and cooperate with commercial banks in the settlement function.
This setup implies that commercial banks would offer services to the central bank, while also competing for the collection of deposit funds. This new relationship would alter the incentive structure in a way that’s impossible to assess at the time being, the report says.
Another concern outlined in the paper relates to the risk of financial instability created by safe accounts that are fully government-backed.
Compared with commercial banks deposits which are prone to the risk of loss, ECB deposits are risk-free because the central bank can always print money to reimburse its debts.
In a banking crisis, depositors become aware of this risk and tend to move away from risky deposits. Since a digital euro would offer a risk-free alternative to bank deposits, a CBDC may accelerate the mobility of deposits and hence, the risk of disruptive bank runs. This may cause damaging outflow of liquidity, the report says.
The paper notes that the digital euro project is part of a global trend towards the introduction of CBDCs, with many central banks exploring the concept at different stage. Against this backdrop, liaison and coordination among central banks are recommended to avoid distortions and adverse effects on any parties.
The digital euro
The ECB is currently working with the national central banks of the euro area to investigate whether to introduce a digital euro. The idea would be to develop an electronic equivalent to cash that would complement banknotes and coins which would provide consumers with an additional choice about how to pay.
The authority published the third progress report on the project in April, presenting a set of design and distribution options for the retail CBDC.
In particular, the ECB proposes for the digital euro to be only accessible to euro area residents, merchants and governments in its initial releases. In further releases, consumers from selected third countries may also gain access to the CBDC. The report also anticipates the potential provision of cross-currency functionalities with other CBDCs outside the euro area by establishing interoperability between the digital euro and other equivalent systems.
The digital currency would be distributed by payment services providers and made available via existing banking apps or via an app provided by the Eurosystem, the monetary authority of the eurozone, the report says. Supervised intermediaries distributing the digital euro would be required to provide a set of mandatory core services to end-users and could offer additional services.
The ECB commissioned last year a study to understand people’s views on specific features of a potential digital wallet. The study, which polled consumers and industry stakeholders in all euro area countries from December 2022 to January 2023, found that person-to-person money transfers and offline payments were considered among the most useful features for Europeans. Participants also shared interest in budget management tools and conditional payments, including payment on delivery and pay-per-use.
The European Commission is set to propose a regulation establishing a digital euro in the second quarter of 2023. By the second half of the year, the Eurosystem is expected to present a high-level comprehensive design for the digital euro, comprising all the design choices and elements described by the three previous progress reports produced by the ECB.
Digital euro project tentative timeline, Source: European Central Bank, April 2023

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/eu-parliament-economic-and-monetary-policies-unit-cautions-ecb-on-digital-currency-launch</link><guid>3187</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>EU Parliament Economic and Monetary Policies Unit Cautions ECB on Digital Currency Launch</dc:text></item><item><title>Swissquote Chooses NetGuardian AI Tool to Fight Financial Crime</title><description><![CDATA[Swissquote has chosen NetGuardians to enhance fraud mitigation and comply with the AML requirements. The NetGuardians AI-based financial crime solutions will monitor all transactions at the bank and on the digital finance app ‘Yuh’, a joint venture between Swissquote and PostFinance, another of Switzerland’s leading banks.
Software designed by NetGuardians will help Swissquote to reinforce bank’s protection to catch scams such as Authorized Push Payment (APP) and other types of payment fraud. It will also help Swissquote to maintain regulatory anti-money laundering (AML) requirements through suspicious activity reporting, early-stage prevention of money laundering attempts, and detecting the creation of money mule accounts.
With APP scams set to double globally by 2026 and become a $5.25bn industry, banks increasingly need AI-based anti-fraud infrastructure to keep pace with fraudsters.




   



    
   


   








NetGuardians’ financial crime solutions ensure accurate detection and minimal false positives, improving customer and user experience while lowering operational costs for banks. In addition, its machine-learning algorithms help financial institutions to discover and stay on top of emerging threats from fraud schemes and scammers.
Gland-based Swissquote is a market leader in online banking with international presence. Swissquote currently employs over 1,000 people who service its 500,000 clients worldwide. ‘Yuh’ is a Swiss finance app launched in the spring of 2021 that emerged from a joint venture between PostFinance and Swissquote.
Joel Winteregg
Joël Winteregg, CEO &amp; Co-Founder of NetGuardians, said:
“We are thrilled Swissquote will be deploying NetGuardians’ AI-based AML transaction monitoring &amp; fraud prevention solutions. Financial crime is an ongoing battle; we want to ensure consumers have a safe and seamless experience. This can be achieved by reducing false positives and alleviating the threat of payment fraud. We look forward to working closely with Swissquote in its fight against financial crime.”
Lino Finini
Lino Finini, COO of Swissquote, said:
“At Swissquote, we want our customers to know we are doing everything we can to prevent fraud. NetGuardians offers one of the best financial crime solutions on the market, helping us to quickly identify and stop scammers and money launderers. This means our customers can bank with confidence at Swissquote.”



Featured image credit: Joël Winteregg, CEO &amp; Co-Founder of NetGuardians and Lino Finini, COO of Swissquote
]]></description><link>https://fintechnews.eu/swissquote-chooses-netguardian-ai-tool-to-fight-financial-crime</link><guid>3186</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Swissquote Chooses NetGuardian AI Tool to Fight Financial Crime</dc:text></item><item><title>Fintech Market Rebounds as Public Markets Recover, Private Investments Increase</title><description><![CDATA[Global fintech investment declined significantly throughout 2022, with funding dropping by 46% from 2021’s record levels, deals falling 8% year-over-year (YoY) and unicorn births sinking to a low of five new unicorns in Q4 2022, representing an 87% drop compared with Q4 2021, data from CB Insights’ State of Fintech 2022 show.
Supply chain disruptions, rising geopolitical tensions and a looming recession are among the main reasons behind the decline, prompting investors to slow their investment pace and halting the startup funding frenzy.
Following the steady decline of investment activity in 2022, global fintech funding and deal activity rebounded significantly in Q1 2023, driven by late-stage rounds and a public market recovery.




   



    
   


   








A new report by London-based corporate finance advisory Royal Park Partners looks at the state of the fintech market in Q1 2023, delving into public markets performances, private investment activity, and fintech exit trends observed during the past quarter.
Public markets recover
After a turbulent Q4 2022, public markets recouped some of their losses in Q1 2023, helping fintech segments regain strength, data from the report show.
The cryptocurrency and blockchain vertical recorded the strongest increase as it continued to recover from the decline caused by the FTX bankruptcy and other scandals. A cohort comprising 10 publicly listed companies in the sector, including Bakkt, Coinbase and Galaxy, witnessed an increase of 55% in share prices quarter-on-quarter (QoQ), the biggest growth observed across all the fintech verticals studied.
Besides crypto and blockchain, the capital markets and wealth management, payments and insurance cohorts each witnessed an increase of approximately 10% QoQ. The banking and lending cohort fell behind the rest of the group, retrieving 2% QoQ.
Breakdown of fintech verticals by share price evolution, Source: Q1 2023 Quarterly Fintech Market Update, Royal Park Partners
Looking at key stock valuation measurement metrics, data show that payments recorded the lowest enterprise value-to-revenue (EV/R) and enterprise value to earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) multiples, standing at 2.7x and 9.8x, respectively. This makes payments the fairest priced and healthiest cohort of the verticals studied for Q1 2023.
EV/R and EV/EBITDA are two popular valuation tools that help determine if a stock is adequately priced. EV/R only considers the top line, focusing on a company’s revenue-generating ability. EV/EBITDA, on the other hand, takes into account operating expenses and taxes, helping thus determine a company’s ability to generate operating cash flows.
Fintech public markets performances Q1 2023, Source: Q1 2023 Quarterly Fintech Market Update, Royal Park Partners
Private fundraising rebounds
Private funding activity increased remarkably in Q1 2023, growing more than twofold QoQ to US$14 billion, data from the report show. The number of deals also increased, rising from 176 in Q4 2022 to 215 in Q1 2023.
QoQ growth was driven by a rise in fundraising activity in the verticals of capital market and wealth management, insurance and the “other fintech” cohort, which comprises companies in categories such as payroll, governance, risk and compliance, price comparison and credit data.
Payments, meanwhile, saw a decline in the number funding rounds but deal value soared drastically, growing more than sevenfold QoQ to US$8 billion, thanks to Stripe’s US$6.5 billion Series I.
Looking at geographical distribution, data show that North America attracted the lion’s share, securing over 66% of all fintech funding in Q1 2023. Asia-Pacific (APAC) and Europe came second, neck and neck with a 16% market share each. Most investment rounds in Q1 2023 (60% of all fintech deals) were made at the late-stage level as investors focused on supporting more mature and established fintech companies instead of placing new bets.
Notable private funding rounds recorded in Q1 2023 include mobile payments application PhonePe’s US$643 million late stage round, consumer lending platform Abound’s US$602 million debt and equity finance, and workforce management platform Rippling’s US$500 million Series E.
Q1 2023 fintech deal number and deal value, Source: Q1 2023 Quarterly Fintech Market Update, Royal Park Partners
M&amp;A activity remains strong
In Q1 2023, mergers and acquisitions (M&amp;A) activity remained dynamic, totaling US$13.3 billion through 198 deals. North America secured the largest share in total deal value (83%) but Europe closed the most rounds (43%).
Notable deals included the US$8 billion buy-out of spend management company Coupa by Thoma Bravo – a deal that accounted for 63% of the total M&amp;A value of the quarter –; the acquisition of Duck Creek Technologies by Vista Equity Partners for US$2.6 billion; and MAX’s acquisition by CLAL Insurance &amp; Finance for US$687 million.
Q1 2023 fintech mergers and acquisitions deal number and deal value, Source: Q1 2023 Quarterly Fintech Market Update, Royal Park Partners
Looking at other startup exit types, the report notes that six fintech companies went public by merging with a special purpose acquisition company (SPAC). These companies included REAL Messenger, a proptech social networking platform from the US, Roadzen, an insurtech company from India, Cheche Technology, a Chinese auto insurtech, and DigiAsia Bios, an Indonesian business-to-business (B2B) fintech-as-a-service (FaaS) company.
Three other companies chose the route of an initial public offering (IPO): New POS Technology, a Chinese payment company; Worldpay, a UK-based payment processing company; and Adenasoft, a South Korean software developer service financial services companies.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/fintech-market-rebounds-as-public-markets-recover-private-investments-increase</link><guid>3185</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Fintech Market Rebounds as Public Markets Recover, Private Investments Increase</dc:text></item><item><title>Riskwolf Project Selected by Innosuisse Swiss Accelerator Program</title><description><![CDATA[Riskwolf, a Swiss Insurtech startup, has been awarded an Innovation project grant with the Swiss Accelerator program supported by Innosuisse. The program is aimed at helping promising startups scale their businesses and make them attractive for advanced stage investors.
Riskwolf plans to use the funds to enhance its cloud coverage product, cloudINSURE, which will offer parametric protection for enterprises in case of cloud downtime. The platform will be fully automated, allowing for an immediate claim payout once the claim trigger is hit.
The need for cloud downtime insurance is becoming increasingly important as nearly every business will run their IT in the cloud by 2030. Failures at third-party cloud, co-location, and hosting providers are now the second most commonly cited reason for IT service failure. For instance, the cost of downtime is estimated to be up to $5 million per hour for high-risk businesses in industries such as banking and finance, healthcare, and manufacturing.




   



    
   


   








Existing solutions in most of Cyber insurance offerings only tackle part of the issues – on-premise issues and outages caused by cyber attacks. All other cloud outage related losses are excluded or not fully protected.
Riskwolf wants to facilitate the protection of cloud assets by extending the current Cyber insurance offering with an additional critical element – Cloud downtime insurance.
The Swiss Accelerator Program supported by Innosuisse will help Riskwolf enhance its offering with a distinct B2B enterprise parametric service to insurers. This service is based on three core capabilities: real-time processes and dynamic risk modeling fit for next-generation insurance solutions, proprietary mixture of public data, own measurements and experts knowledge, and unique combination of knowledge for digital risks and actuarial science.
The timing for Riskwolf’s innovation is right as businesses move to the cloud, and new digital players (fintech, online commerce) only support digital channels requiring 24-hour connectivity. In mature economies, downtime protection will eventually be mandated due to competition, regulation, and consumer rights.
There is also an unmet demand for cyber protection, and insurance rates are rising, leaving businesses and individuals with a protection gap when their cloud provider is out.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/riskwolf-project-selected-by-innosuisse-swiss-accelerator-program</link><guid>3184</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Riskwolf Project Selected by Innosuisse Swiss Accelerator Program</dc:text></item><item><title>ADB, Switzerland Sign US$5 Million Co-Financing Deal to Support Vietnamese Fintechs</title><description><![CDATA[The Asian Development Bank (ADB) and Switzerland signed a co-financing agreement of up to US$5 million for Vietnamese fintechs focused on addressing financial inclusion in the country, particularly among small and medium-sized enterprises (SMEs).
This funding, along with a US$2 million contribution from the Japan Fund for Prosperous and Resilient Asia and the Pacific, financed by the Government of Japan, will support a technical assistance that aims to expand inclusive and climate finance in the country.
This will help the State Bank of Vietnam (SBV) to strengthen the regulatory framework for digital finance, build the capacity of government and other industry stakeholders, and assist financial institutions to develop digital banking.




   



    
   


   








Additionally, this will also will help advance women’s financing access, including through the provision of training opportunities on fintech and green banking best practices to SBV staff.
They are targeting 25% female participation, as well as consulting services to women-led SMEs on preparing green loan applications.
Winfried Wicklein
“Financial institutions rely heavily on collateral-based credit decisions. This disadvantages SMEs, which typically have little or no collateral. Banks also often centralize their credit processes, making it relatively more expensive to process smaller loans. This technical assistance can help find solutions such as alternative credit scoring and introducing digital lending.”
said Winfried Wicklein, Director General for Southeast Asia at ADB.
Dominique Paravicini
By enhancing the regulatory environment for innovative fintech solutions and building capacities of market players in digital finance, Switzerland supports Vietnam in fostering the digital transformation of its financial sector. Ultimately, this will help SMEs in Vietnam to better access finance and expand their businesses.”
said Dominique Paravicini, Head of Economic Cooperation and Development at the Swiss State Secretariat of Economic Affairs (SECO) and Switzerland’s Governor to ADB.

This article first appeared on fintechnews.sg
]]></description><link>https://fintechnews.eu/adb-switzerland-sign-us5-million-co-financing-deal-to-support-vietnamese-fintechs</link><guid>3181</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>ADB, Switzerland Sign US$5 Million Co-Financing Deal to Support Vietnamese Fintechs</dc:text></item><item><title>Die digitale Firmengründung erreicht endlich auch die Schweiz</title><description><![CDATA[In der Schweiz werden jährlich zwischen 40’000 und 50’000 Firmen gegründet. Die dafür notwendigen Unterzeichnungen, welche in der Regel noch analog erfolgen, machen eine Gründung aufwändig und langwierig.
Der Gründungsplattform Hoop ist es in Zusammenarbeit mit DeepCloud und Yapeal gelungen, den Gründungsprozess vollständig digital auszugestalten und damit Unternehmen rasch und unkompliziert zu gründen. Davon profitieren Firmengründerinnen und Firmengründer in der ganzen Schweiz.
Am 6. April 2023 um 9.30 Uhr startete Pascal Huber, Geschäftsführer der Ostschweizer Treuhandfirma Breitenmoser-Edelmann Treuhand AG, die digitale Sitzung zur Gründung des Startups SpeedGo AG. Auf der digitalen Gründungsplattform Hoop bereitete er die entsprechenden Dokumente vor.




   



    
   


   








Sämtliche Gründungsunterlagen wurden von den Gründern von SpeedGo digital an ihren unterschiedlichen Arbeitsplätzen unterzeichnet. Um 10.00 Uhr war das Geld auf dem Kapitalgründungskonto des Fintech Yapeal einbezahlt. Bereits um 10.15 Uhr waren sämtliche Dokumente digital von allen Parteien unterzeichnet und dem Notar zur Gründung digital übermittelt worden. Drei Stunden später startete der Notar die Überprüfung der Dokumente und unterschrieb diese anschliessend selbst digital. Um 14.00 Uhr wurden alle zur Gründung von SpeedGo erforderlichen Dokumente wiederum digital dem Handelsregisteramt übermittelt.
Der gesamte Gründungsprozess, der in der Schweiz üblicherweise mehrere Wochen bis Monate in Anspruch nimmt, konnte in einer Rekordzeit von rund sechs Stunden erledigt werden.
Sechs Arbeitstage nach der ersten Sitzung war die Firma SpeedGo beim Handelsregister Zürich aufgeschaltet. Nach der Eröffnung eines Geschäftskontos bei Yapeal ist das Unternehmen nun voll handlungsfähig und kann Rechnungen empfangen und versenden.
“Ich war selber überrascht, wie bequem, einfach und schnell das Ganze über die Bühne gegangen ist”,
kommentiert Pascal Huber sichtlich erfreut die Premiere.
Silvio Enzler
Silvio Enzler, COO von Hoop fügt hinzu:
“Wir haben eine neue Ära bei Firmengründungen eingeleitet, welche durch Digitalisierung, Geschwindigkeit und Einfachheit geprägt ist”.

Auch Yapeal ist stolz darauf, Teil der ersten durchgehend digitalen Firmengründung der Schweiz zu sein.
Thomas Hilgendorff
“Unsere Realtime-Services ermöglichten die sofortige Eröffnung des Kapitaleinzahlungskontos”,
so Thomas Hilgendorff, CEO von Yapeal.
Das Handelsregisteramt des Kantons Zürich spricht von der in Zusammenarbeit mit Schmidhäusler Rechtsanwälte AG realisierten Gründung und Eintragung der SpeedGo AG, welche von A-Z digital erfolgte von
«einem Meilenstein auf dem Weg zur vollständig digitalisierten Dokumenten-einreichung bei einer Firmengründung».
Die Hoop Plattform steht aktuell als Beta-Version 20 Treuhändern zur Verfügung. Im Juni dieses Jahres soll sie allen interessierten Unternehmerinnen und Unternehmern zur Verfügung stehen.
]]></description><link>https://fintechnews.eu/die-digitale-firmengrundung-erreicht-endlich-auch-die-schweiz</link><guid>3182</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Die digitale Firmengründung erreicht endlich auch die Schweiz</dc:text></item><item><title>New Research Claims ChatGPT is Able to Predict Stock Price Movements</title><description><![CDATA[ChatGPT, an artificial intelligence (AI) chatbot developed by OpenAI, is capable of accurately predicting stock price movements, showcasing that large language models (LLMs) can be powerful tools for forecasting stock prices, researchers at the University of Florida said in a new paper.
These conclusions were drawn from a study that sought to determine whether or not ChatGPT could be used to predict market movements. For the study, the researchers looked at over 50,000 headlines from a data vendor about public stocks on the New York Stock Exchange, Nasdaq and a small-cap exchange. They then fed the headlines into ChatGPT for analysis and classification. A sentiment score was then generated and compared with the corresponding stock market returns.
An analysis of these results showed a strong correlation between the ChatGPT evaluation and the subsequent daily returns of the stocks in the sample, revealing that the AI chatbot was able to correctly predict stock market movements based on sentiment analytics.




   



    
   


   








The researchers, whom also compared the performance of ChatGPT with traditional sentiment analysis methods provided by a data vendor, found that the ChatGPT model actually outperformed existing methods.
This superiority, the researchers said, can be attributed to the chatbot’s advanced language understanding capabilities, which allow it to capture the nuances and subtleties within news headlines. This enables the model to generate more reliable sentiment scores, leading to better predictions of daily stock market returns, they said.
According to the researchers, these findings suggest that ChatGPT and LLMs in general could enhance investment decision-making by yielding more accurate predictions, improving the performance of quantitative trading strategies, and providing a better understanding of market dynamics.
Since its released in November 2022, ChatGPT has sent social media, schools and the business world abuzz for its ability to engage in human-like conversations, its versatility and its intelligence.
Just this week, an experiment conducted by financial comparison site Finder.com revealed that ChatGPT is able to pick stocks better than leading UK funds.

A basket of 38 stocks selected by the AI chatbot outperformed the top ten most popular funds in the country, gaining 4.9% between March 06 and April 28 against an average loss of 0.8% for the funds.
Major funds and banks have leveraged AI to support their investment decisions for years, but ChatGPT has now put the technology in the hands of the general public.
Finder.com conducted a survey of 2,000 UK adults in April 2023 and found that only a mere percentage of the respondents (8%) had used ChatGPT for financial advice. That number, however, is expected to grow in the future, since 19% of the consumer polled said they would consider using the AI chatbot for financial advice.
AI is currently being applied in various aspects of stock trading. One way the technology is being used is through the analysis of large amounts of data, including news articles, financial reports, social media posts, and market trends, to identify patterns and correlations.
Another application of AI in stock trading is through the use of predictive models that forecast future market trends based on historical data, helping traders anticipate changes in stock prices and adjust their trading strategies accordingly.
Asset management firm BlackRock, for example, uses AI algorithms to analyze market trends and make better investment decisions; hedge fund Bridgewater Associates is known for its extensive use of AI algorithms in its trading strategies; and JPMorgan Chase has developed an AI-powered trading platform called LOXM that uses machine learning (ML) algorithms to execute trades more efficiently.
According to Goldman Sachs, generative AI systems that are capable of producing content like ChatGPT could drive a 7% (or almost US$7 trillion) increase in global gross domestic product and lift productivity growth by 1.5 percentage points over a 10-year period.
At the same time, advances in AI are expected to have a significant impact on the labor market, exposing the equivalent of 300 million full-time workers across big economies to automation.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/new-research-claims-chatgpt-is-able-to-predict-stock-price-movements</link><guid>3183</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>New Research Claims ChatGPT is Able to Predict Stock Price Movements</dc:text></item><item><title>Microsoft and Stripe Partner to Launch Microsoft Team Payments</title><description><![CDATA[Stripe announced a new partnership with Microsoft that enables North American businesses to accept payments directly in Microsoft Teams.
The Microsoft Teams collaboration platform offers video conferencing, voice, messaging, and other embedded tools to more than 300 million global businesses. Stripe will power Teams Payments, allowing meeting hosts to accept real-time card payments during virtual appointments, classes, events, and more. Businesses can now set advance payment through Stripe as a requirement to join a Teams session.
Brenna Robinson
“We’re thrilled to partner with Stripe to help unlock new revenue streams for companies on Teams Payments,”
said Brenna Robinson, general manager, SMB, at Microsoft.




   



    
   


   








“Our collaboration with Stripe allows us to better serve our customers, deepen the impact of Teams, and boost revenue growth.”
In this Teams session, participants are prompted to make a live payment in the chat.
Enabling faster online payments on Microsoft Teams
93 percent of businesses have to deal with late payments from customers, which impede cash flow and damage balance sheets. Businesses on Teams Payments and Stripe can accept payments from customers before, during, or after a virtual session, then access the funds in seconds.
Microsoft is using Stripe Connect to streamline payment acceptance and identity verification for transactions in Teams. When merchants sign up for Teams Payments, Stripe handles the onboarding requirements to help them get paid. An online yoga instructor, for example, can now request payments from students within a Teams chat. Microsoft will use Connect to programmatically route funds from customers to merchants after a payment has been made.
Mike Clayville
“Our partnership brings Stripe into one of the world’s most popular collaboration platforms and will help millions of companies accelerate their online revenue growth,”
said Mike Clayville, chief revenue officer at Stripe.
“With Stripe, more businesses can now accept payments as easily as launching a video conference, chat, or virtual presentation within Microsoft Teams.”
Teams Payments is available in preview in the Teams App store and to customers with a Microsoft 365 or Teams subscription in the US and Canada.

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/microsoft-and-stripe-partner-to-launch-microsoft-team-payments</link><guid>3179</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Microsoft and Stripe Partner to Launch Microsoft Team Payments</dc:text></item><item><title>Fintech on the Rise in Kazakhstan Driven by Digital Payments and Super-Apps Adoption</title><description><![CDATA[In Kazakhstan, the fintech industry is growing at a fast pace, driven by rapid adoption of digital payments, ecosystem services and super-apps, among other digital financial services, a new report by Fintech Consult, MOST Ventures and RISE says. Moving forward, supportive initiatives from the government and infrastructure enhancement efforts are expected to further drive innovation and adoption in the sector.
These are among the key insights drawn from the Fintech in Kazakhstan report, an industry report released on April 14, 2023 that looks at the state of the domestic fintech ecosystem and which points out to booming usage of fintech services and a swift toward digital payments.
According to the report, digital transactions are growing rapidly. Since 2017, the volume of cashless transactions have doubled each year, soaring from a mere US$5 billion in 2017 to US$158 billion in 2022, data from the National Bank of Kazakhstan (NBK) show.




   



    
   


   








Volume of cashless transactions, 2017-2022, US$ billions, Source: Fintech in Kazakhstan, Fintech Consult, MOST Ventures and RISE, April 2023
At the same time, merchants are deploying point-of-sale (POS) terminals at a steady pace to adjust to changing consumer behavior. In 2017, only 108k POS devices were in operation in Kazakhstan, a number that rose to 831k in 2023. The figures suggest a 70%+ annual growth rate in the number of POS terminals deployed in the country.
Number of point-of-sale (POS) devices in Kazakhstan, Source: Fintech in Kazakhstan, Fintech Consult, MOST Ventures and RISE, April 2023
Several trends are driving this growth, the report says, including booming e-commerce activity and new infrastructure solutions launched by the central bank.
In June 2022, the NBK launched its Instant Payment System into operation, allowing consumers to make instant interbank transfers 24/7 using only a mobile phone number and a QR code. The effort is part of a broader ambition to revamp the entire payment system and develop a strong technological infrastructure for digital financial services.
The rise of super-apps
Another trend outlined in the report is the rise of fintech ecosystems and super-apps. These platforms, which combine various financial and non-banking services including online payments, mobile banking, e-commerce and lifestyle, are gaining momentum in Kazakhstan and are witnessing booming adoption from consumers.
Kaspi.kz, a pioneer in the field since 2014, has seen its customer base grow to 12.6 million monthly active users, a number that represents about 65% of Kazakhstan’s total population.
The company provides an integrated consumer-focused ecosystem offering loans, deposits and money transfers services, as well as e-commerce, location services, a reward program and a messaging feature.
Kaspi.kz’s digital ecosystem, Source: Fintech in Kazakhstan, Fintech Consult, MOST Ventures and RISE, April 2023
Founded in 2008 and headquartered in Almaty, Kaspi.kz is reportedly preparing for a US listing that may come this year, the company told Axios earlier this month.
To keep up with the trend, banking incumbents are actively developing and deploying their own fintech ecosystems and super-apps.
For example, Halyk Bank, the largest financial group in Kazakhstan, has built a digital ecosystem accessible through a mobile app that offers standard banking products such as payment services, transfers and cards, as well as lifestyle services including cinema, weather, commerce and travel.
8 million retail customers are reportedly using Halyk Bank’s Homebank online banking system and 273,000 corporate and small and medium-sized enterprise (SME) customers are using its Onlinebank portal, the bank said in its 2021 annual financial report.
Halyk Bank’s digital ecosystem, Source: Fintech in Kazakhstan, Fintech Consult, MOST Ventures and RISE, April 2023
Besides digital payments and super-apps, the report notes that wealthtech and digital trading platforms have recorded sustained growth these past years, on the back of legislative changes and technological advancements.
Mobile investment apps are now playing a critical role in democratizing stock trading by improving accessibility through lower fees, lower capital requirements as well as intuitive and seamless digital user experiences, the report says. This is evidenced by the growth of the number of retail investor accounts in Kazakhstan, which grew nearly fivefold from just 119k in 2019 to 581k in 2022.
Buy now, pay later (BNPL) is another fintech trend that’s been picking up in Kazakhstan, the report says. The trend was spearheaded by Kaspi.kz before other players started entering the market and began offering similar services.
Conducive government initiatives
Governmental efforts to encourage innovation and digital reforms have played a critical role in the growth of fintech in Kazakhstan, the report says. New infrastructural projects are currently in the works and should further propel the domestic fintech sector.
In February, the NBK outlined in a paper its vision for the future of financial services, laying out its ambition to develop “a sustainable digital financial ecosystem.”
To achieve these goals, the central bank said it is implementing a number of infrastructure solutions intended to enhance financial stability, offer a level playing field for all industry participants and develop healthy competition.
These infrastructure solutions include the so-called National Payment System, digital biometric identification, a platform for the secure exchange of data based on open programming interfaces (open APIs) and a solution for know-your-customer (KYC) procedures.
The NBK is also working on a retail central bank digital currency (CBDC), the Digital Tenge, which will be piloted with consumers and merchants this year, the report says.
The CBDC will use an open source distributed ledger and will be issued in token form. The system will support payment options including NFC, QR code payments, biometrics, and offline payments, it says.
According to the report, Kazakhstan is currently home to more than 150 fintech companies, with payments, transfers and mobile wallets being the largest vertical. The segment accounts for 20% of all fintech companies in the country, and is followed by financial software/back- and middle-office solutions, with a 18% market share, e-commerce and e-marketplace, at 15%, and savings and investments, at 11%.
Between 2018-2022, fintech accounted for 12% of all venture capital deals in Kazakhstan, making it the second largest sector in the country by deal account after the marketplace and e-commerce sector.
Fintech companies in Kazakhstan (none exhaustive list), Source: Fintech in Kazakhstan, Fintech Consult, MOST Ventures and RISE, April 2023

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/fintech-on-the-rise-in-kazakhstan-driven-by-digital-payments-and-super-apps-adoption</link><guid>3180</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Fintech on the Rise in Kazakhstan Driven by Digital Payments and Super-Apps Adoption</dc:text></item><item><title>European Fintech Sector Poised for Fivefold Growth by 2030</title><description><![CDATA[Boston Consulting Group (BCG) and QED Investors have released a report projecting a sixfold increase in financial technology revenues from US$245 billion to US$1.5 trillion by 2030.
The fintech sector, which currently holds a two percent share of the US$12.5 trillion global financial services revenue, is estimated to grow to seven percent.
Despite a tough 2022, with fintechs losing more than half of their market value on average, the report suggests that this was merely a short-term correction in an otherwise positive long-term trajectory.




   



    
   


   








The Asia-Pacific region is expected to become the world’s top fintech market by 2030, with a projected compound annual growth rate (CAGR) of 27 percent. This growth will be driven primarily by emerging economies such as China, India, and Indonesia, which have the largest fintechs, underbanked populations, many small and medium-sized enterprises, and a rising tech-savvy youth and middle class.

The United Kingdom and European Union together constitute the world’s third-largest financial intermediary market, with significant fintech expansion predicted by 2030. This growth is estimated to be over five times that of 2021, primarily driven by the payments sector.
Traditional banks currently dominate this market, which features a relatively low fintech penetration rate of 1 percent within financial services revenues. However, regulators in the region are progressive, as evidenced by their support for open banking, open finance, and passporting.

The regional fintech sector is anticipated to achieve a 21 percent compound annual growth rate (CAGR) leading up to 2030, fueled by the ongoing expansion of payment-plus (value-added services ecosystems built on traditional payment infrastructures), embedded finance, and B2B players. Moreover, the adoption of open banking is likely to encourage the development of innovative products and services, further boosting the sector’s growth.
Meanwhile, North America will remain a critical fintech market and innovation hub, projected to grow fourfold to US$520 billion in 2030, with the US accounting for a projected 32 percent of global fintech revenue growth.
The US is projected to account for 32 percent of global fintech revenue growth (CAGR of 17 percent) by 2030. With the country’s larger interchange pool, fintechs can cater to the underbanked low-end market.
However, the report predicts that it will be the B2B2X and B2B markets that will lead the next era of fintech, with the B2B2X market expected to grow at a 25 percent CAGR to reach US$440 billion in annual revenues by 2030, supported by growth in embedded finance and financial infrastructure.

The B2B fintech market is expected to grow at 32 percent CAGR to reach US$285 billion in annual revenue by providing solutions to credit-starved and poorly served small businesses.
The report highlights the importance of proactive regulatory actions, including measures such as facilitating faster pathways for obtaining banking and payment institution licenses, supporting digital public infrastructure, and creating an open banking ecosystem, to create a level playing field. The report also stresses the significance of incumbents partnering with fintechs to speed up digital transformation.
For those interested in reading the full report, please click here for the link.

]]></description><link>https://fintechnews.eu/european-fintech-sector-poised-for-fivefold-growth-by-2030</link><guid>3178</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>European Fintech Sector Poised for Fivefold Growth by 2030</dc:text></item><item><title>Deutsche Börse With 3.9 Billion Euro All-Cash Takeover Offer for SimCorp</title><description><![CDATA[Deutsche Börse has announced a binding agreement with SimCorp  in which it will make an all-cash voluntary public takeover offer to acquire all shares of Denmark’s SimCorp A/S, valuing the firm at €3.9 billion.
The offer price represents a premium of 38.9% and 45.3% to the closing share price and 3-month volume-weighted average price as of 26 April 2023, respectively. The transaction is expected to be completed in Q3 2023, subject to regulatory approvals and customary conditions.
The acquisition of SimCorp A/S, a provider of investment management software and related technology services, will complement Deutsche Börse AG’s existing data and analytics businesses, paving the way for a comprehensive front-to-back Investment Management Solutions segment.




   



    
   


   








The combined entity will expand Deutsche Börse total addressable market with expertise across data, index, and analytics, and build upon the previous collaboration initiated in 2021 with Qontigo, a Deutsche Börse AG subsidiary.
Additionally, SimCorp A/S will continue to operate as an independent front-to-back investment management solutions provider, operating as an open platform under its established brand name. Deutsche Börse AG will also maintain SimCorp’s global operational presence, along with the the SimCorp Group headquarters and registered office in Denmark.
SimCorp’s Board of Directors has confirmed its unanimous recommendation for shareholders to accept the offer. Members of SimCorp A/S’s Executive Management Board and Board of Directors have also committed to accept the offer, subject to customary conditions.
At the same time, Deutsche Börse plans to accelerate the development of its Data &amp; Analytics segment, intending to combine Qontigo and ISS with General Atlantic as the sole minority shareholder of the combined Qontigo entity. This will create a combined ESG, data, index, and analytics provider, exploring value-creating capital market options, including a potential IPO in the medium term.
The synergies from the cooperation and partnerships within the group are expected to generate around €90 million in annual EBITDA synergies within three years of completing the offer, with a one-off cost of €100 million. These synergies include €55 million in cost synergies and €35 million in revenue synergies.
Theodor Weimer
“Through our existing partnership we have come to know and appreciate the management of SimCorp A/S and the strategic transformation they have initiated, backed by a highly competent team of skilled employees,”
said Theodor Weimer, CEO of Deutsche Börse AG.
“In addition to the SimCorp A/S transaction, we have decided to merge ISS and Qontigo. Both transactions will bring long-term growth, sizeable and tangible synergies, and a significant increase of our recurring revenues. We would be delighted to welcome SimCorp A/S, which has been a trusted business partner for many years, to Deutsche Börse Group and to embark on this exciting journey together.”
Peter Schütze
“The Board of Directors finds that the offer from Deutsche Börse AG represents attractive value for the shareholders of SimCorp A/S as the company accelerates its transformation to a full-scale SaaS and BPaaS provider to deliver sustained long-term profitable growth,”
stated Peter Schütze, Chair of the Board of Directors of SimCorp A/S.
“Deutsche Börse AG is well-positioned to contribute to the realisation of the long-term potential of SimCorp A/S, and the offer is a clear testament to the strong position and prospects of SimCorp A/S in a global investment industry undergoing fundamental changes and seeing rising demand for integrated technology platforms.”






Deutsche Börse will finance the acquisition with cash and debt, having entered into a fully underwritten bridge facility with Morgan Stanley.







Featured image credit: Theodor Weimer, CEO of Deutsche Börse AG and Peter Schütze, Chair of the Board of Directors of SimCorp A/S
]]></description><link>https://fintechnews.eu/deutsche-borse-with-39-billion-euro-all-cash-takeover-offer-for-simcorp</link><guid>3177</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Deutsche Börse With 3.9 Billion Euro All-Cash Takeover Offer for SimCorp</dc:text></item><item><title>24 Fintech Events to Attend in the USA and Canada in Q2 2023</title><description><![CDATA[North America, and the USA in particular, has historically been the dominant force in fintech innovation, adoption and investment globally. The region is home to some of the world’s biggest and most successful fintech companies, and has continuously attracted the most funding for companies in the sector.
As fintech continues to witness increased innovation and growth in North America, we’ve decided to curate a list of the top fintech events and conferences taking place in the USA and Canada in the second quarter of the year.
These large-scale events are set to bring together large crowds of experts and industry stakeholders to meet, build business connections and discuss some of the sector’s biggest challenges and opportunities, the latest developments and emerging trends.




   



    
   


   








American Banker: Payments Forum
May 01-03, 2023
Manchester Grand Hyatt, San Diego, California, USA


American Banker’s Payments Forum, taking place from May 01 to 03, 2023, aims to provide a platform for experts and leaders to convene and connect to share ideas about innovation, digital transformation, the evolution of consumer behavior, and more.
This year’s event will feature six tracks that address the most critical topics facing the industry, namely customer experience, cards, buy now pay later (BNPL), fraud and security, cryptocurrency, and the future of rewards, striving to offer the most comprehensive and forward-thinking conference catering to the entire payments ecosystem.
At the Payments Forum, participants will get to connect with card and payments professionals from top US banks, attend dedicated networking sessions, meet industry experts, and more. Topics covered will include regulation and compliance, cannabis payments, real-time payments, macroeconomic outlook, and card payments.
2023 Payments Canada Summit
May 03-05, 2023
Beanfield Centre, Toronto, Ontario, Canada


The Payments Canada Summit is returning to in-person for the first time since the COVID-19 pandemic from May 03 to 05, 2023.
The best thinkers, visionaries and disruptors from the payment ecosystem will gather at the Beanfield Centre in Toronto to discuss, debate and define the future of payments in Canada and abroad.
This year’s conference is expected to attract 1,800 industry leaders, innovators and challengers from companies spanning the globe. Participants can expect:

Access to all breakout sessions, panels, workshops, and exhibit hall;
Future-focused content in formats that will allow you to tap into the collective expertise of the payment ecosystem;
Opportunities to establish meaningful connections, face-to-face;
An interactive zone to foster new relationships and reconnect with old friends; and
Dedicated social events to connect top payment innovators over refreshments.

Register now.
Fintech Americas’ Miami 2023!
May 4-5, 2023
Fontainebleau Hotel, Miami, Florida, USA


The Age of Digital Transformation is ending, to be followed by the Age of Infinite Adaptation, a period that will be the coming together of prescient technologies and more human competencies to produce higher performance and greater purpose in the LATAM financial sector.
Miami 2023! is a must attend event for any executive that seeks to realize the power of the Age to come. The two-day is set to bring together about 1,000 banking and financial services leaders from across Latin America to discuss some of the industry’s most pressing issues and biggest opportunities.
2023 NJBDA Symposium
May 09, 2023
Seton Hall University, New Jersey, USA


On May 09, 2023, Seton Hall University will host the 10th annual New Jersey Big Data Alliance (NJBDA) Symposium, the state’s premier conference for big data and advanced computing.
The event theme this year, “Big Data in Fintech,” will focus on the opportunities in new development in the financial industry created by big data and fintech.
It will feature high-profile keynote speakers, including George Calhoun, professor, founding director of the Quantitative Finance Program and executive director of the Hanlon Financial Systems Center at Stevens Institute of Technology; Kjersten Moody, chief data officer at Prudential Financial; and Stephen Ward, Cybersecurity expert and managing director at Insight Partners.
Additional sessions will cover a variety of interesting topics ranging from artificial intelligence (AI) and machine learning (ML) applications, and workforce skills, to regulatory issues and cybersecurity.
Attendees will be able to explore education and training of a big data workforce with a focus on big data in fintech, gain insights on cutting-edge research at New Jersey’s premier academic institutions, participate in relevant and valuable workshops, and network with industry, government, academic leaders, and New Jersey Big Data Alliance (NJBDA) members.
The NJBDA is an alliance of 18 higher education institutions, as well as industry and government members, that catalyzes collaboration in advanced computing and data analytics research, education and technology.
Experience FinXTech
May 09-10, 2023
JW Marriott Tampa Water Street, Florida, USA


The ideal bank-fintech relationship is highly complementary, incredibly powerful and results in lucrative benefits for both sides. To help develop these strategic connections, Bank Director hosts each year the Experience FinXTech event.
This year’s edition will take place on May 09 and 10, and will provide banks and fintech companies with the opportunity to connect with like-minded industry leaders, explore cutting-edge fintech solutions, and learn how to navigate the nuances of the partnership process.
The two-day event will examine the implications of technology on the business of banking, and explore how banks and fintech companies can thrive through the cultivation of new business relationships, collaboration and strategic investments.
Conference highlights in 2023 will include:

Interactive technology sessions;
Growth and strategy-focused presentations;
Group discussions; and
Networking opportunities.

Fintech Nexus USA
May 10-11, 2023
Javits Center, New York City, New York, USA


Fintech Nexus USA, one of the largest fintech events taking place in New York City, will be returning this year on May 10 and 11, at the Javits Center.
This year’s event will explore the complexities of the rapidly changing world through insightful sessions focused on the most important trends in banking, fintech, and cryptocurrency and decentralized finance (DeFi). The event is expected to bring together 5,000+ banks, fintech companies and investors to imagine the future of financial services.
Topics covered will include digital banking, credit and underwriting best practices for uncertain times, financial health and inclusion and the golden age of payments innovation.
Register here.
The US Fintech Symposium
May 16-18, 2023
The Rosen Centre Hotel, Orlando, Florida, USA


The US Fintech Symposium is an annual fintech conference that brings decision-makers together to discover the latest fintech trends while fostering productive networking events.
The 2023 edition will take place as a two and a half day, in-person conference, focusing on the latest fintech developments, strategies and best practices.
Attendees will be able to participate in eight formal networking sessions, schedule meetings with product and service providers, network digitally through our event app and more. They will get to hear presentations and panel discussions from fintech industry experts pertaining to the latest fintech developments including embedded finance, neobanking, blockchain, robotic process automation (RPA), AI, ML, open banking, blockchain, and more. ​
2023 Bankers Summit
May 17, 2023
MaRS Discovery District, Toronto, Ontario, Canada


As banks continue to grow their digital footprint, fintech partnerships and innovations have spring up to better service small and medium-sized enterprises (SMEs) and consumers.
The 2018 amendments to the Bank Act removed barriers that restricted certain types of partnership between banks and fintechs. It removed the lengthy approval processes and restrictions on the type of investments banks can make in the sector.
The Bankers Summit, taking place on May 17, 2023, will focus on the business of partnership and explore how the sector can further break down incumbent barriers to better service Canadians. More than 500 bankers and fintech companies are expected to attend the event.
Blockchain Expo North America 2023
May 17-18, 2023
Santa Clara Convention Centre, California, USA


Blockchain Expo is a global series of blockchain conferences and exhibitions that aims to bring together people across key industries to experience world-class content from leading brands embracing and developing cutting edge blockchain technologies.
Presented in a series of top-level keynotes, interactive panel discussions and solution-based case studies with a focus on learning and building partnerships in the emerging blockchain space, Blockchain Expo explores the industries that are set to be disrupted the most by this new technology, including financial services, healthcare, insurance, energy, music, government, real estate and more.
This year’s North American edition will take place in California on May 17 and 18, and will seek to explore the latest innovations, implementations and strategies within blockchain technology. Participants will get to discover what leading blockchain companies are offering, learn more about the industry’s current state, and explore this innovative technology and its impact on a range of industries.
Register your interest now.
FinovateSpring 2023
May 23-25, 2023
Marriott Marquis San Francisco, California, USA


FinovateSpring will be returning to San Francisco from May 23 to 25, 2023 to provide fintech professionals with the opportunity to reconnect face-to-face with their industry peers and plot a course for the future.
Finovate’s signature mix of innovative demos, engaging panelists, insightful speakers, and high-impact networking will give industry participants the perspective and connections they need to thrive in a changing landscape.
Participants will get to meet more than 1,200 senior attendees from across the fintech industry, connect directly to innovators behind the most exciting tech in finance, and meet fintech companies, platform players, financial institutions, regulators and investors redefining the future of financial services around the world.
Liminal Executive Summit
May 23-25, 2023
Napa, California, USA


The Liminal Summit is an invitation-only, executive leadership event committed to digital identity innovation and exploration.
Taking place from May 23 to 25, 2023, the summit will convene an exclusive group of founders, executives, investors, and product innovators for unscripted, closed-door dialogue, unparalleled connections, and unprecedented insights that will scale the next wave of identity solutions.
Attendees can expect to take a critical look at evolving business strategies and use cases, kick the tires on what’s working (and what’s not), and pull back the curtain on emerging technologies defining the industry.
Topics covered will include the state of identity, the wallet war, the economics of verifiable credentials, going passwordless, and the rise of integrated identity platforms.
Find out more here.
Insurance Tech and Innovation Conference
May 25-26, 2023
Embassy Suites by Hilton, Boston, Massachusetts, USA


New situations and scenarios have allowed insurance companies to break conventional barriers and start thinking differently to transform their businesses. The surge of insurtech has opened up new business models, strategies, and cutting-edge technologies to leap onto the next step in your digital transformation journey.
Creating and delivering value in insurance has drastically changed, and the global pandemic only accelerated that change. All of the leading insurance companies have started to reimagine their businesses, both internally and externally, to meet the changing needs of their customers. These days, the only way to lead the market is by accelerating technology &amp; digital transformations that can meet the needs of a world in crisis.
To keep pace with the competition, insurance companies need to transform at a rapid speed. At the Insurance Tech and Innovation Conference, on May 25 – 26, 2023, more 30 insurtech experts will share their latest strategies, insights, solutions, and innovations to drive insurance transformation journeys. Participants will get to meet decision-makers from across the entire insurance value chain, including 200+ leaders from technology, innovation, data, analytics, and more.
Join now.
Digin 2023
June 05-07, 2023
San Francisco Marriott Marquis, California, USA


At Digin 2023, on June 05-07, 2023, the most knowledgeable experts will dive deep into customer experience, insurtech partnerships, competitive pressures, regulatory changes and more. The event, featuring high-level think tanks, engaging workshops, deep-dive roundtables and more, will provide actionable insights and powerful networking opportunities.
Participants will leave with fresh strategies for differentiating their products and services from competitors to gain market share and grow revenue. They’ll also explore the latest cutting-edge solutions and technology that will help their organization improve customer experiences, drive loyalty and increase operational efficiency.
The event is expected to gather hundreds of senior leaders to discuss the most innovative solutions and the most important insights shaping the future.
Data Science Salon NYC: AI and Machine Learning in Finance and Technology
June 07, 2023
S&amp;P Global Ratings, New York City, New York, USA


Data Science Salon NYC is an annual one-day 150 person conference focused on AI and ML applications in finance and technology. The intimate event takes place at S&amp;P Global Ratings in New York City, NY, and brings local industry leaders and specialists face-to-face to educate each other on innovative solutions in AI, ML, predictive analytics and acceptance around best practices.
Participants will see a mix of use-cases, technical talks and panel conversations, and will walk away with actionable insights from those working on the frontlines of ML in finance and technology.
Participants will get to:

Meet and connect with the most diverse community in the space;
Improve their data skills in 30+ engaging sessions, including use-cases, technical deep dives, and panel conversations;
Learn from practitioners, technical experts and executives what AI and ML mean to finance and technology;
Ask expert speakers questions in live Q&amp;A sessions;
Walk away with actionable insights from those working on the frontlines of ML in finance and technology; and
Access all sessions on-demand until two weeks after the event.

All sessions will be livestreamed, where another 1K+ attendees are expected to tune in virtually.
Invest 2023
June 12-13, 2023
Hilton Midtown, New York City, New York, USA


Financial Planning’s Invest, taking place on June 12 and 13, 2023, will help decision-makers at wealth management firms understand how new technology can improve advisor efficiency and effectiveness. Advisors will also learn how to better utilize technology to improve client interactions, investment strategies and other practice and client management skills. All Invest attendees will leave with a clearer sense of how they can help their businesses grow.
Featuring engaging demos, interactive panels and insightful keynotes, Invest is thoughtfully curated for critical conversations and powerful connections, and will aim to bridge the gap between wealthtech and investment services.
American Banker: Digital Banking
June 12-14, 2023
The Boca Raton, Florida, USA


American Banker’s Digital Banking, taking place from June 12 to 14, 2023, will bring together the most knowledgeable experts to dive deep into regulation, customer experience, fintech partnerships, the digital workforce, and more. The event will seek to empower participants with the insights to navigate the complex, competitive road ahead.
Featuring engaging demos, interactive panels and insightful keynotes, Digital Banking is thoughtfully curated for strategic conversations and powerful connections. The event will allow the banking community to connect and collaborate to address the industry’s most pressing issues. Participants will get to engage in focused discussions with the industry’s top minds and walk away with the tools to thrive in a new era of financial services.
Topics covered will include:

Banking crisis/failures;
New rules and regulations;
Bank fintech partnerships;
Online lending; and
Financial inclusion.

Transform Payments USA 2023 (Fintechnws.am Recommendation)
June 13-14, 2023
Austin Marriott South, Austin, Texas, USA


Reuters Events: Transform Payments USA 2023, taking place on June 13 and 14, 2023, in Austin, Texas, will unite 150+ senior executives from across the banking, payments, and regulatory ecosystems to discuss the future direction of the industry.
From the implications of instant payments maturity, and finding harmony between regulation and innovation; to elevating the treasury experience through next-generation technologies and preparing for a new age of cyber security and fraud, the event will bring together a forum of global financial institutions and their network of partners to reimagine how the world pays.
Key agenda themes will include:

Instant payments connectivity;
US payments regulation;
Strategic partnerships and investment; and
Transforming the customer journey.

Register here.
Fintech and Insurtech Generations
June 14-15, 2023
Charlotte Convention Center, Charlotte, North Carolina, USA


Fintech and Insurtech Generations is one of the premier financial and insurance technology events in the US. Each year, the conference gathers the industries’ top thought leaders, innovators, and entrepreneurs from around the world to discuss pressing topics and facilitate strategic networking among 1,000+ attendees.
Based out of Charlotte, Generations 2023 will be returning as an in-person event on June 14 and 15, focused on reuniting the fintech industry. At this year’s conference, attendees will participate in real conversations around real issues, hear from the industry’s leading experts on the issues that matter most, and enjoy engaging formats.
This year’s event will be themed around the topic of “Community” and will focus on building meaningful business connections.
Open Banking Expo Canada 2023
June 15, 2023
Metro Toronto Convention Centre, Toronto, Ontario, Canada


Open banking in Canada is underway, with a Made in Canada framework starting to take shape. Following the delivery of the Final Report of the Advisory Committee, practitioners are beginning to build the initial tranche of products and services, and the working groups continue to provide insight and guidance around critical questions of privacy, security, accreditation, and liability.
However, open questions remain: how far can we progress after a slow start to implementation? Do we expect to be further hamstrung by roadblocks in regulations? Will the banks embrace a truly open environment? Is there any real money to be made this year? Which model of governance will work for Canadian financial services? And have we all even agreed on what true open banking will look like going forwards?
At the Open Banking Expo Canada 2023 event, industry experts will unpick these crucial questions and discuss some of the sector’s biggest challenges.
Participants can expect:

500+ attendees, 60+ speakers, 20+ exhibitors and 20+ hours of critical content;
An expo floor with many partners showcasing their open banking innovation;
Hear from Finance Canada, RBC, CIBC, BMO, EQ Bank, ATB Financial, Large Credit Union Coalition, and more;
Choose from high-octane sessions across two stages delivered by 60+ innovators, disruptors and visionaries from banks, credit unions, and fintech companies; and
Networking sessions with industry peers across the open banking ecosystem.

FTT Embedded Finance &amp; Super-Apps North America East Coast
June 20, 2023
New York, USA


The FTT Embedded Finance &amp; Super-Apps North America East Coast, on June 20, 2023, will be convening an exciting and disruptive community of retailers, manufacturers, insurers, telcos, financial institutions, fintech companies and tech innovators to explore the rise of embedded finance and super-apps.
Future Identity Finance
June 20, 2023
New York, USA


Future Identity Finance, in co-location with FTT Embedded Finance &amp; Super-Apps, will explore how digital identity can reduce fraud, enhance compliance and build customer trust in an evolving financial services landscape, and how consumer-facing businesses in retail, gaming, mobility, entertainment, travel, healthcare and other key sectors, are approaching digital identity.
The event is expected to bring together more than 600 attendees from leading financial institutions, credit unions, technology enablers and regulators across North America.
Register now.
Payment Leaders’ Summit USA
June 20-21, 2023
Capital Hilton, Washington, DC, USA


Following the success of payexpo’s UK Payments Leaders’ Summits and the launch of the European Summit, payexpo has announced the further expansion of the series.
The Payments Leaders’ Summit will gather selected senior payment leaders, decision-makers and budget holders from across North America for this exclusive and invite-only event, featuring one-to-one meetings, networking and interactive discussions, and seminars.
The event will give participants the opportunity to network with senior peers in a relaxed, private environment, as well as hear and learn from the most influential members of the payments community.
This year’s USA edition, taking place on June 20 and 21, will cover themes including:

Legislative and regulation updates;
Instant/faster payments;
Customer payment journey;
Future of payment trends; and
Digital currencies, central banking digital currencies (CBDCs) and blockchain.

Register your interest now.
Fintech Connect North America
June 27, 2023
Convene Quorum, New York, USA


After launching online two years ago, Fintech Connect North America is back live and in-person, in New York.
Fintech Connect 2023, on June 27, 2023, at the Convene Quorum, New York, will connect participants to all parts of the fintech ecosystem by bringing everyone under one roof to discuss digital transformation, payments, regtech and blockchain technology.
The event, which is expected to bring together more than 400 fintech leaders, will be addressing some of the industry’s biggest challenges and opportunities, including:

The metaverse, Web 3.0 and DeFi: how are they changing the face of the financial ecosystem and how are they tangibly being implemented?
ChatGPT: Is this the start of a new era?
The challenges and successes of leveraging AI;
Building a robust and resilient cybersecurity strategy; and
The next frontier for payments: what does the landscape look like for 2023 and beyond?

Register now.
The Future of Insurance USA 2023
June 27-28, 2023
Marriott Marquis Chicago, Illinois, USA


Insurance is at a critical inflection point. Inflation is causing a profitability crunch, customers are demanding digital perfection, and a scarcity of talent leaves the industry in crisis mode. Headwinds of change are ripping through an inherently risk-averse industry – but inaction is a strategic risk in itself. Never has it been more critical to invest in the future.
The most successful players will:

Challenge the outdated perception of insurance by creating innovative products that meet the needs of underserved markets;
Thrive in the changing industry ecosystem with effective partnerships, a flexible business strategy and a culture of innovation; and
Combine the power of next generation technologies with diverse talent to create frictionless customer experiences.

At the Future of Insurance USA 2023 event, participants will get to hear from those changing the game of insurance, including the CEOs, Presidents of North America’s largest insurance companies, insurtech founders and senior thought-leaders pioneering change in the industry and representing the driving force of insurance revolution, and explore some of the industry’s challenges and opportunities.
Register now.
]]></description><link>https://fintechnews.eu/24-fintech-events-to-attend-in-the-usa-and-canada-in-q2-2023</link><guid>3176</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>24 Fintech Events to Attend in the USA and Canada in Q2 2023</dc:text></item><item><title>Swiss Fintech Awards 2023: Top 10 Fintech Startups Revealed</title><description><![CDATA[A jury of 20 experts from the Swiss fintech space reviewed 80 Swiss fintech startup applications and picked the five most promising companies in the categories “Early Stage Fintech Startup of the Year” and “Growth Stage Fintech Startup of the Year”.
The ten nominated companies can be clustered along hot topics such as AI, green fintech or crypto assets and also general financial services for businesses like accounting and sme banking.





   



    
   


   








The Top 5 Swiss Early Stage Fintechs are:


Aisot Technologies turn data into actionable insights for asset and wealth managers through AI.


Numarics offer a complete solution for accounting also powered by AI technology.


Pelt8 is addressing sustainability reporting and is making this process easy and auditable.


Relio is a neo bank specialized on business accounts.


Sustainaccount aim at improving climate risk resilience by combining and crunching millions of data points.

The Top 5 Swiss Fintech Growth Stage Startups are:


Altoo is a wealth platform for family offices and others who are managing complex wealth.


Divizend automates the process of reclaiming foreign withholding taxes for investors and other dividend receivers.


NetGuardians offers a ready-to-use solution to countering fraud and financial crime.


Taurus is a unified platform providing the technology to offer and manage digital assets.


The Swiss FinTech Awards are made possible through the collaboration and support of the fintech and finance ecosystem including banks, investors, accelerators, media, academia, associations and more.
The winners of the awards 2023 will be announced at the Swiss FinTech Awards Night taking place on June 13 with invited guests after the fintech conference by Finanz und Wirtschaft Forum “FinTech 2023” which is open to the public.

]]></description><link>https://fintechnews.eu/swiss-fintech-awards-2023-top-10-fintech-startups-revealed</link><guid>3174</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Swiss Fintech Awards 2023: Top 10 Fintech Startups Revealed</dc:text></item><item><title>Highlights of the European ETF Industry in 2022: White Label Platform Competiton Heats up</title><description><![CDATA[2022 was a remarkable year for investors around the globe. Some may call it a year for the history books. Major economic and geopolitical headwinds resulted in falling equity and fixed-income markets around the globe.
In the aftermath of the COVID-19 pandemic, investors were concerned about the still-disrupted delivery chains and increasing inflation rates when the year started. All these concerns became overshadowed by Russia’s invasion of Ukraine because this meant that investors had to rewrite their playbook for the year.
The war in Ukraine led to increasing prices for energy and food, which fueled already-increasing inflation rates. As a result, central banks around the globe had to act even more harshly to fight inflation. They sharply increased interest rates in some cases, which led to losses in nearly all bond segments and also fueled the downturn in equity markets.
Within this environment, it was somewhat surprising that the European ETF industry enjoyed inflows over the course of 2022. That said, these inflows repeated a trend which we have witnessed over the course of other rough market periods. The European ETF industry enjoyed estimated inflows over the course of the financial crisis (2008), the euro crisis (2011), and the rough market environment in 2018. From my point of view, this means that European investors prefer ETFs in times of market turmoil, as they seem to value the transparency and tradability (liquidity) of these products.
From an industry perspective, it was surprising that AXA Investment Managers re-entered the European ETF landscape in September 2022 after a 13-year absence. That said, AXA might be preparing for a general change in the European fund distribution landscape, since the firm launched active ETFs. For example, AXA may expect that European regulators may allow semi- or non-transparent ETFs sooner rather than later and want to be prepared to launch ETFs based on its current product offerings of active funds.
White Label Platform Competiton Heats up
The competition in the space of white label platforms heated up over the summer of 2022, as Goldman Sachs and Waystone launched offerings in Europe. From my point of view, this shows that the European ETF industry has further matured and that there is demand from boutique and/or small asset managers to launch ETFs because the usage of the infrastructure of a white label platform makes a lot of sense—especially for these two types of asset managers.
In November 2022, we saw UniCredit close it last two ETFs and leave the European ETF industry. Even as some market observers might have seen this as a consolidation, the number of asset managers offering ETFs either directly or via a white label platform to European investors has increased over the course of the year.
One of the main events for the European ETF industry was the introduction of the regulatory technical standards (RTS) for the sustainable finance disclosure regulation (SFDR) in the EU. As the published standards were much higher than expected by the overall fund industry and market observers, a high number of mutual funds and ETFs got “downgraded” with regard to their respective classification by article under the SFDR. There were so many reclassifications from article 9 to article 8 in the European ETF market that some market observers raised the question of whether there would be any article 9 ETFs left on January 1, 2023.
The European ETF industry has written a true success story since its inception in the year 2000, but the future looks even brighter. I expect that the European ETF industry will continue to grow on an above average rate compared to the overall fund industry in Europe. The future growth will be driven by numerous factors from a wider adoption of ETFs by all kind of investors to product innovations and everything in between. With all these factors in mind, I forecast that assets under management will double to more than €2.5 tr before the end of 2030.
Assets Under Management in the European ETF Industry, January 1, 2000 – December 31, 2022, Souce: Refinitiv Lipper
ETF Yearbook
Other topics covered within the ETF Yearbook are:

An analysis of the assets under management and fund flows on various levels of the European ETF industry.
What happened in the segment of ESG-related ETFs over the course of 2022?
Who are the leading custodians for the European ETF industry?
Have ETFs using synthetic replication methodologies gained market share?
Are factor investing ETFs back in the favor of investors?
A review of ETF launches and closures.
Which trends were visible related to total expense ratios (TERs)?
Are ESG-related ETFs too expensive?

This article is for information purposes only and does not constitute any investment advice.
The views expressed are the views of the author, not necessarily those of Refinitiv Lipper or LSEG.


]]></description><link>https://fintechnews.eu/highlights-of-the-european-etf-industry-in-2022-white-label-platform-competiton-heats-up</link><guid>3175</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Refinitiv_ETF-AUM-in-Europe-1-1024x717.png?x30842</dc:content ><dc:text>Highlights of the European ETF Industry in 2022: White Label Platform Competiton Heats up</dc:text></item><item><title>Digital Banking Ranking: Swiss Banks Have Dropped Out of the Top 20</title><description><![CDATA[Where do you look for international digital banking champions?
You are unlikely to find them in Switzerland. With regard to digital banking services, the Swiss banking sector fell further behind banks in the rest of the world in 2022 and now risks being unable to close the gap to its international competitors.
These are the findings of the recent Deloitte study ‘Digital Banking Maturity 2022’, which assessed over 300 banks in 41 countries. In the international rankings, the ten Swiss representatives only achieved 21st place. This is even lower than two years ago, when they came 18th. Compared with other banks internationally, Swiss banks are too slow, lack innovation, and focus too little on what their customers want.




   



    
   


   








According to the study ‘Digital Banking Maturity 2022’ by the audit and consulting company Deloitte, the digitalisation of the banking sector is advancing rapidly across the globe. However, Swiss banks are not keeping up with the pace: in 2020 they were still ranked 18th, but two years later they have slipped a further three places. It therefore comes as no surprise that only a single Swiss bank is a digital champion, meaning it is among the top 30 out of 304 banks assessed worldwide.

For the study, mystery shoppers opened real accounts at all of the banks assessed, testing more than 1,200 functionalities offered through their digital channels – via websites, e-banking and smart phone apps.
Cyrill Kiefer
‘This new decline is a concerning development for the Swiss banking sector,’
says Cyrill Kiefer, Banking Consulting Leader at Deloitte.
‘In other countries that were assessed, it is standard practice for a comprehensive range of digital services to be offered online – especially via mobile phones and other devices.’
These range from quick and easy account opening, instantly visible bank transfers and credit card management, all the way through to securities trading and investment services.
‘Banks that don’t meet the digital expectations of their customers risk losing them in the medium term. They should make far more use of these key channels to retain existing customers and attract new, tech-savvy ones.’
Banks are too slow
The study shows that, for various reasons, the Swiss banks assessed have been far slower than their international competitors at keeping up with the rapid pace of digitalisation. Although banks in Switzerland have improved their digital maturity on average, they are moving far more slowly than digital champions. In addition, digital champions provide a greater range of services, such as car finance and mortgages, across all of their digital channels, and they also launch them more quickly.
Moreover, very few Swiss banks offer a way to open a bank account quickly and easily and start using it immediately while, of course, complying with all of the applicable legal requirements. Most do not have fully digital end-to-end processes. Customers, however, expect to have real-time access to their account balance to see transactions and other account information. Compared with digital champions, Swiss banks also lack functionalities in their online channels.

Weaknesses in digital sales
Digital channels are a good way of marketing products such as debit and credit cards to existing customers. Yet only 41 per cent of Swiss banks offer their customers the facility to order a credit card digitally – for digital champions, this figure is almost twice as high. And only 18 per cent of Swiss banks allow their customers to fully complete a loan application via digital means, whereas 68 per cent of digital champions offer this option.
The functionalities offered by digital champions go far beyond traditional banking. They offer online facilities like booking hotels, flights and access to airport lounges, as well as possibilities to buy cinema, theatre, concert and car parking tickets. Some even enable customers to register a company digitally. By contrast, Swiss banks have almost completely neglected these developments – unlike other providers such as insurers, which already provide numerous services beyond their core business.
Swiss banks are falling behind





Featured image credit: edited from freepik here and here
]]></description><link>https://fintechnews.eu/digital-banking-ranking-swiss-banks-have-dropped-out-of-the-top-20</link><guid>3173</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Digital Banking Ranking: Swiss Banks Have Dropped Out of the Top 20</dc:text></item><item><title>GCash FutureCast Introduces 10 New Innovations That Bring The Future Of Fintech To All Filipinos</title><description><![CDATA[GCash is the Philippines’ #1 Finance Super App with over 79 million users who enjoy fast, safe, and convenient transactions online. Based on Data.ai, a reputable 3rd party platform, GCash is the #1 Finance Super App in the country with the most downloads, the highest Monthly Active Users, and even the highest Daily Active Users, as GCash is now part of their daily routines.
First launched as an SMS platform in 2005 and later as a super app in 2012, GCash was the first to introduce the QR payment system in the country. It supported the digital migration of Filipinos during the pandemic, and now that the world has reopened, it expands its services to suit the changing needs of Filipinos in a global digital financial landscape.
At this year’s #GCashFutureCast event, GCash ushered in the future of Fintech through 10 ground-breaking innovations for every Filipino.
Sharing in the celebration for GCash’s 10 new groundbreaking innovations: GCash Head of Growth Marketing Fe Olivia Mir, GCash Chief Marketing Officer Neil Trinidad, GCash Chief Technology &amp; Operations Officer Pebbles Sy, GCash Endorser – Joshua Garcia, GCash Chief Executive Officer Martha Sazon and GCash Head of New Business Winsley Bangit
Tools for financial freedom
GCash has made wealth management products like savings, insurance, and investments easy and accessible. Now it introduces products to help people grow their wealth and to help them protect it.
GStocks PH is AB Capital Securities, Inc.’s (ABCSI) online retail securities trading services made accessible through the GCash app. Its user-friendly and simplified trading interface was designed through a collaboration with the Philippine Stock Exchange. Through GStocks PH, users can now trade stocks of over 280 local companies. GStocks PH will be available to more users soon.GCrypto allows users to discover and explore the world of Crypto and NFTs. Users get access to curated NFT collections, like The House of OhLala by Filipino contemporary artist, Reen Barrera, on the GCrypto NFT Hub. Buying and selling Crypto is also made easier with an exchange powered by PDAX, the Philippines’ leading homegrown cryptocurrency exchange.
GInsure Online Shopping Protect insurance offers users 60 days of coverage up to P20,000 for all their online purchases for just P34. The insurance covers scenarios when orders are not delivered, are accidentally damaged, are not as described, or are stolen. The insurance product, powered by Chubb, is embedded in the user’s online GCash payment journey across 1,500 online shops and platforms.
GCash goes global
Traveling Filipinos can now go cashless globally using GCash’s newest services. For overseas Filipinos, they can now use GCash to send money and support to their family back home.
GCash Global Pay allows Filipino travelers to do cross-border QR payments at Alipay+ merchants in Singapore, Malaysia, Japan, South Korea, Qatar, Germany, Italy, France and the United Kingdom. This eliminates the hassle of paying with cash, or withdrawing money at ATMs where you can incur high service fees. It offers real-time Forex charging, with no service fees.
GCash Card gives travelers the advantage of real time Forex charging at low exchange rates and no service fees. With this, users can access their funds in a single tap at over 100 million shops across 200 countries and territories around the world through VISA’s expansive network. This enables travelers to enjoy hassle-free shopping and dining experiences wherever they may be. The new GCash card will be available later this year.
GCash Overseas allows overseas Filipinos in Japan, Australia, Italy and the USA to download GCash using international SIM cards. Now they can send money, buy load, and pay bills for their loved ones back home. They can enjoy the convenience of sending money for free with GCash to GCash transactions, saving them the cost of remittance fees. GCash also announced that it is now available in the UK and Canada. GCash Overseas is currently on Beta and is limited to a number of users, but will expand to more users soon.
Borrowing made easier
GGives supports Filipinos with the ability to buy now, pay later with zero credit cards, zero additional documents, zero down payment, and now with zero interest at select merchants. GCash users are now free from the barriers normally associated with installment plans, for both in-store or online purchases.
Borrow Load will allow eligible users to borrow their favorite load promos today at zero cash out, giving them access to their preferred entertainment – even if they’re short on budget. They can now afford to access data-heavy apps with load promos valid for up to 7 days. Borrow Load will be rolling out to more users soon.
Improved security and user experience
GCash has taken steps to make transactions safer and more seamless through two new features:
GChat is a new, user-friendly messenger feature that makes it easier to chat and transact with contacts, share receipts instantly, and trace transaction histories. The feature makes it easier to search for conversations with friends, merchants or customers, while the Gigi and Advisories features allow users to get help anytime in real-time. GChat will be rolling out to users in the next few months.
DoubleSafe is the latest GCash security feature that prevents fraudsters from taking over accounts. It provides an additional layer of security on top of the 2-Factor Authentication and mobile pin (MPIN). DoubleSafe will be activated for every first login to a new mobile phone, and will use facial recognition to secure an account should the user inadvertently share their MPIN and OTP to fraudsters
Martha Sazon
At the FutureCast event, GCash CEO Martha Sazon said,
“GCash has empowered and enabled every Filipino to remain hopeful and pursue progress. As the Philippines’ #1 Finance Super App and the first finance app to be a household name in the country, GCash is positioned to be everyone’s enabler to be future-ready. With the 10 new innovations at GCash, our hopes for a better tomorrow begins today.”
]]></description><link>https://fintechnews.eu/gcash-futurecast-introduces-10-new-innovations-that-bring-the-future-of-fintech-to-all-filipinos</link><guid>3172</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Gcash-groundbreaking.jpg?x30842</dc:content ><dc:text>GCash FutureCast Introduces 10 New Innovations That Bring The Future Of Fintech To All Filipinos</dc:text></item><item><title>Galaxy and DWS Enter Alliance to Develop Exchange Traded Products on Digital Assets</title><description><![CDATA[Galaxy Digital Holdings, an USA based financial services and investment manager in the digital assets, and DWS, one of the world’s leading asset managers, have entered into a strategic alliance with the aim of initially developing a comprehensive suite exchange-traded products (ETPs) on certain digital assets in Europe. The strategic allies plan to also subsequently explore other digital asset solutions.
As the digital asset market continues to mature, Galaxy’s asset management unit and DWS will work together to provide European investors access to the USD ~1 trillion digital assets market through cost-effective investment solutions that are easy to access via traditional brokerage accounts. This alliance is expected to significantly enhance Galaxy’s international distribution capabilities by deepening access to European investors who are keen to participate in the digital assets market. For DWS, this alliance fulfills a key priority to develop comprehensive digital solutions, unlocking investor access to the ever-growing blockchain and digital assets universe. DWS will be Galaxy’s exclusive ally for cryptocurrencies ETPs in the European market.
Steve Kurz
“Galaxy’s mission is to empower investors across the globe with simple and secure access to the digital asset ecosystem, through best-in-class education and institutional-grade products,”
said Steve Kurz, Global Head of Asset Management at Galaxy.




   



    
   


   








“By allying with DWS, one of the most successful and innovative asset management firms in the world, we are excited to enhance our ability to deliver comprehensive solutions to European investors, empowering them to tap into the vast potential and promise of blockchain technology and digital assets in a safe and convenient manner.”
Fiona Bassett
“This alliance brings together two firms with unparalleled collective experience in building and pioneering innovative investment solutions across both traditional and digital asset markets,”
said Fiona Bassett, Global Head of Systematic Investment Solutions at DWS.
“As we see increasing client interest in digital assets and the need for secure access, our shared education-first approach and commitment to providing clients with access via well-known and trusted investment vehicles will enable us to build thoughtfully constructed and thoroughly researched products. We look forward to working with Galaxy to further accelerate international adoption of the digital asset economy.”
The alliance is expected to combine DWS’s strong portfolio management, product structuring, and distribution expertise across liquid and illiquid asset classes with Galaxy’s technical infrastructure and its asset management and research capabilities for digital assets. The alliance aims to be a catalyst for both firms to jointly profit from emerging digital asset opportunities.
Bringing together the benefits of a diversified platform and deep asset-class expertise across traditional and digital asset markets, Galaxy’s asset management unit develops and manages a broad range of passive, active, and venture strategies consisting of over USD 2 billion in assets under management. Galaxy’s asset management arm works with investors around the world, including through trusted, established regional partners such as DWS in Europe and others in Canada and Latin America.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/galaxy-and-dws-enter-alliance-to-develop-exchange-traded-products-on-digital-assets</link><guid>3171</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Galaxy and DWS Enter Alliance to Develop Exchange Traded Products on Digital Assets</dc:text></item><item><title>In Latin America, Fintech is Driving Banking Innovation and Improving Financial Inclusion</title><description><![CDATA[The rise of fintech in Latin America (LatAm) over the past decade has shaken up the region’s financial landscape, driving innovation in the banking sector, boosting competition and helping increase inclusion, a new paper by the International Monetary Fund (IMF) says.
In a Fintech Note released on March 29, IMF analysts look the state of fintech in LatAm, exploring how the development of the industry has impacted the region’s financial landscape and sharing the trends that are arising in the sector.
According to the paper, LatAm’s fintech industry has experienced strong growth over the past years, owing to favorable demographic factors, including the region’s large population of unbanked and underbanked, as well as digitalization efforts from governments to modernize payment infrastructures. This has led to considerable improvements, efficiency gains and increased accessibility for consumers and businesses alike.




   



    
   


   








Financial transactions that took days now can be completed instantaneously on Mexico’s Cobro Digital (CoDi), Costa Rica’s SINPE Móvil or Brazil’s Pix payment systems, the report notes, while bank services such as account opening and loan applications that were previously available only at a bank’s brick-and-mortar branches can now be done online at digital banks.
By simplifying access to financial services, fintech companies are helping increase inclusion. Today, about three-quarters of LatAm digital banks’ customers are unbanked and underbanked consumers and small and medium-sized enterprises (SMEs), and two-thirds of their loans go to these demographics, the report says.

Fintech companies are also boosting competition in the banking sector both directly and indirectly. A direct impact comes from competition between incumbents and fintech companies themselves, especially those operating in the lending sector. This has led several smaller banks to respond by decreasing their prices and interest margins, a trend that’s visible since the 2000s, the report says. Indirectly, fintech startups are providing incentives and opportunities for incumbents to invest in new fintech innovations and tap efficiency gains and offer improved customer experiences.
Digital payments and neobanking lead LatAm fintech industry
According to the paper, LatAm’s fintech industry is currently led by digital payments providers and neobanks. These two segments are the largest ones in the region, serving 300 million and 30 million users, respectively, across LatAm and the Caribbean (LAC).
Number of fintech users in Latin America and the Caribbean (LAC) by segment, 2021 (in millions), Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023
Digital payments, which grew from US$89 billion in 2017 to US$215 billion in 2021, are mostly used for e-commerce and mobile point-of-sale (mPOS), with more than 10% of e-commerce spending being now made using digital wallets, the report says.
Cross-border digital remittances is another vertical that’s picking up fast, growing almost threefold in the Caribbean and Central America and twofold in South America, it says.
Digital payment transaction value by segment (in US$ billion) in Latin America and the Caribbean, Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023
Digital banking is another prominent fintech segment in LatAm. The sector has grown from just ten neobanks in 2017 to now 60 players, with Mexico and Brazil leading the space by being home to 55 digital banks and serving most of the region’s neobanking customers.
In 2021, transaction volume of fully online digital banks in Argentina, Brazil, Chile, Colombia, Mexico and Peru (LA6) reached US$123 billion, the report says, growing more than sixfold from US$17 billion in 2017.
Digital bank transaction value in Argentina, Brazil, Chile, Colombia, Mexico and Peru (LA6) (in US$ billions), Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023
Alternative finance and insurtech on the rise
Though still relatively small compared with digital payments and neobanking, alternative finance and insurtech are two fintech verticals that are blossoming and which are creating important innovations, the report says.
Alternative finance platforms are providing new solutions to limited access to finance, allowing customers to bypass intermediaries and directly borrow from and lend to a company or a person.
Between 2017 and 2020, the volume of alternative finance in LAC expanded ninefold from US$700 million to about US$6 billion. During the period, the number of providers more than quadrupled to reach 502 in 2020, with lending platforms accounting for most of this growth. Brazil is the clear leader in alternative finance, accounting for two-thirds of volume, followed by Chile and Mexico.
Value and Transactions in Alternative Finance in Latin America and the Caribbean, Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023
LatAm’s insurtech sector, meanwhile, remains small and nascent, with just 127 companies in 2021. About half of these companies’ clients are SMEs and low-income consumers. Insurtech companies also provide technological solutions to 23% of all traditional insurance companies.
LatAm insurtech business models and markets served, 2021 (%), Source: The Rise and Impact of Fintech in Latin America, International Monetary Fund, March 2023
According to the report, LatAm’s insurtech industry has a strong potential for expansion, owing to low insurance penetration in the region. Rates vary from 1% of gross domestic product (GDP) in Venezuela to about 4% in Chile, the report says, compared with 9.4% in Organisation for Economic Co-operation and Development (OECD) countries.
As of April 2023, about 1,000 fintech companies were active in LatAm, according to a new report by Flagship Advisory Partners. 65% of these companies are based in either Brazil or Mexico.
Brazil is home to the six most well-funded fintech companies in the region, namely Nubank, C6 Bank, Inter and Neon, four neobanks, as well as XP Investments, an investment management company, and Creditas, a consumer lending startup.
Nubank went public in December 2021 and became LatAm’s most valuable listed bank at US$41.5 billion.
LatAm fintech landscape, 2023, Source: Flagship Advisory Partners, April 2023

This article first appeared on fintechnews.am

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/in-latin-america-fintech-is-driving-banking-innovation-and-improving-financial-inclusion</link><guid>3170</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>In Latin America, Fintech is Driving Banking Innovation and Improving Financial Inclusion</dc:text></item><item><title>User Authentication Enters New Era, Enabled by Biometrics, Blockchain, AI</title><description><![CDATA[Technological advancements, including biometrics, blockchain, encryption and artificial intelligence (AI), are fueling the advent of more efficient and secure authentication mechanisms.
New methods and trends including passworldless authentication are already seeing significant traction from customers, which perceive them as not only more convenient than traditional authentication methods but also more reliable, a study by Entrust, an authentication specialist, found.
The Future of Identity Report, released in March, shares findings of a global survey of 1,450 consumers across 12 countries, aiming to shed light on the identity market and identify emerging trends.




   



    
   


   








While passwords have traditionally been the most popular means of primary authentication, results from the study show that they have outrun their course.
With more digital services available than ever, consumers are having a hard time recalling an ever-growing inventory of password credentials, with 51% of respondents stating that they reset a password at least once a month because they can’t remember it, and 15% responded doing so at least once a week.
Against this backdrop, passwordless authentication solutions, especially those utilizing user biometrics, are gaining traction, with more than half of respondents stating that they view biometric solutions as more secure. 53% of consumers named fingerprint scans are the most secure authentication method, followed by facial recognition technology (47%). Only 6% said passwords are the most secure method.
Authentication methods consumers believe are more secure than passwords, Source: The Future of Identity Report, Entrust, 2023
Passwordless authentication is a security process which typically relies on security tokens, personal identification numbers and an individual’s unique biological characteristics such as fingerprint recognition, iris recognition, face recognition or voice analysis to verify a user’s identity.
In 2021, the passwordless authentication market was valued at US$12.8 billion. The market is projected to reach US$40.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.2% from 2022 to 2031.
Driving this growth will be the growing advancement in technologies such as the Internet-of-Things (IoT) and AI, the rising awareness of the application of passwordless authentication in the banking sector and the increase in penetration of consumer electronic devices, a research study has said.
Results of the survey also reveal a preference for these new authentication methods. When given the choice between biometrics or a password, 74% of respondents will choose biometrics half the time or more. A third will always choose biometrics when available.
Another key finding of the study is the exploding popularity of digital identity, which consumers perceive as more convenient and secure than physical-only identity documents. Seven out of 10 of the survey respondents said they would likely use an electronic form of government-issued identification (eID) if one were available, with proponents citing improved convenience (50%) and security (49%) as the most important reasons why they would use eID.
Top 4 reasons respondents would use an eID, Source: The Future of Identity Report, Entrust, 2023
The digital identity solution market, which encompasses next-generation identity governance and administration solutions that use cutting-edge technologies such as machine learning (ML), biometrics, blockchain and AI to determine more accurately and seamlessly whether a person is who they claim to be, is a booming industry that’s been propelled by increased investment in digital transformation, the development of biometrics integration in smartphones, and new government regulations.
Globally, the digital identity solution market is projected to grow from nearly US$28 billion in 2022 to almost US$71 billion in 2027, a research has found.
Findings from the study also reveal that the majority of consumers understand that their control over personal information is diminishing. 74% of respondents agreed that sharing personal information in exchange for access to goods, services, and applications has become unavoidable and that they have no choice but to allow access. In fact, 55% of consumers believe they do not own their information at all.
Survey results also show that consumers are divided when it comes to how comfortable they are with organizations owning and storing a digital identity for them, even if that means accessing improved user experience. 54% said yes and that they would be comfortable, but 46% of consumers said no and that they should be the only one who owns their online digital identity.
Against this backdrop, the report argues that decentralized identity solutions have the potential to solve this issue. These solutions leverage technologies such as blockchain and other distributed ledger technologies (DLTs) to allow entities to create and control their own digital identity, all the white enabling superior user experiences. Examples of decentralized identity solutions include Microsoft Entra Verified ID, PingOne by Ping Identity, and IBM Digital Credentials.
]]></description><link>https://fintechnews.eu/user-authentication-enters-new-era-enabled-by-biometrics-blockchain-ai</link><guid>3169</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>User Authentication Enters New Era, Enabled by Biometrics, Blockchain, AI</dc:text></item><item><title>Keyrock and Tenity Launches Accelerator for Web3.0, Fintech Startups in Belgium</title><description><![CDATA[Belgian crypto startup Keyrock announced that it has partnered with global fintech incubator Tenity to launch an acceleration programme for Web3.0 and fintech startups.
The 4-month programme is set to begin in early September 2023 in Belgium and will conclude with a Demo Day event in December 2023 where startups will compete for up to €100,000 investments from Keyrock.
Keyrock and Tenity will identify and admit Web3.0 and fintech startups with a focus on core technology areas such as financial infrastructure, decentralised finance, asset tokenisation and data tooling.




   



    
   


   








During the programme, startups will benefit from masterclasses facilitated by industry experts with personal coaching and mentorship in tech prototyping, scaling, finance, sales, and marketing.
Additionally, Keyrock and Tentity will also open up their network of global partners to help startups build relevant connections beyond their respective industries.
Applications for the Keyrock Accelerator Programme are now open here. Keyrock will cover travel and accommodation expenses for those participating.
Kevin de Patoul
“For the last 5 years, we have worked closely with partners at all stages of their development to increase the utility brought by digital assets to end users. The next logical step is to support them at the very beginning, to ensure the best players have all the support they need to maximize their chances of success.

We are very excited to partner with Tenity and keen to put Brussels at the center of digital assets innovation, at a time when the EU is positioning itself as a leader with the MiCA framework,”
said Kevin de Patoul, CEO and Co-founder of Keyrock.
Marc Hauser
“I am incredibly excited about this partnership between Keyrock and Tenity, particularly as Keyrock was a part of the Tenity program in 2020.

This collaboration is a testament to our shared commitment to nurturing the next generation of innovators, and I am confident that together, we will make a lasting impact on the web3 and fintech landscape.”
said Marc Hauser, Head of Tenity Switzerland.

]]></description><link>https://fintechnews.eu/keyrock-and-tenity-launches-accelerator-for-web30-fintech-startups-in-belgium</link><guid>3168</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Keyrock and Tenity Launches Accelerator for Web3.0, Fintech Startups in Belgium</dc:text></item><item><title>Crypto-Assets: Green Light to New Rules for Tracing Transfers in the EU</title><description><![CDATA[On Thursday, MEPs approved with 529 votes in favour to 29 against and 14 abstentions, the first piece of EU legislation for tracing transfers of crypto-assets like bitcoins and electronic money tokens. The text –provisionally agreed by Parliament and Council negotiators in June 2022- aims to ensure that crypto transfers, as is the case with any other financial operation, can always be traced and suspicious transactions blocked. The so-called “travel rule”, already used in traditional finance, will in future cover transfers of crypto assets. Information on the source of the asset and its beneficiary will have to “travel” with the transaction and be stored on both sides of the transfer.
The law would also cover transactions above €1000 from so-called self-hosted wallets (a crypto-asset wallet address of a private user) when they interact with hosted wallets managed by crypto-assets service providers. The rules do not apply to person-to-person transfers conducted without a provider or among providers acting on their own behalf.
Uniform EU market rules for crypto-assets
Plenary also gave its final green light with 517 votes in favour to 38 against and 18 abstentions, to new common rules on the supervision, consumer protection and environmental safeguards of crypto-assets, including crypto-currencies (MiCA). The draft law agreed informally with the Council in June 2022 includes safeguards against market manipulation and financial crime.




   



    
   


   








MiCA will cover crypto-assets that are not regulated by existing financial services legislation. Key provisions for those issuing and trading crypto-assets (including asset-reference tokens and e-money tokens) cover transparency, disclosure, authorisation and supervision of transactions. Consumers would be better informed about the risks, costs and charges linked to their operations. In addition, the new legal framework will support market integrity and financial stability by regulating public offers of crypto-assets.
Finally, the agreed text includes measures against market manipulation and to prevent money laundering, terrorist financing and other criminal activities. To counter money-laundering risks the European Securities and Markets Authority (ESMA) should set up a public register for non-compliant crypto assets service providers that operate in the European Union without authorisation.
To reduce the high carbon footprint of crypto-currencies, significant service providers will have to disclose their energy consumption.
Quotes by rapporteurs
Stefan BERGER
Stefan Berger (EPP, DE), lead MEP for the MiCA regulation, said:

“This puts the EU at the forefront of the token economy with 10 000 different crypto assets. Consumers will be protected against deception and fraud, and the sector that was damaged by the FTX collapse can regain trust. Consumers will have all the information they need and all underlying risks around crypto-assets will have to be monitored. We secured that the environmental impact disclosure will be taken into account by investors in crypto assets. This regulation brings a competitive advantage for the EU. The European crypto-asset industry has regulatory clarity that does not exist in countries like the US.”

Ernest URTASUN
Ernest Urtasun (Greens/EFA, ES), co-rapporteur for the Economic and Monetary Affairs Committee on crypto-asset transfers said:

“Currently illicit flows in crypto-assets are moved swiftly across the world, with a high chance of never being detected. The Recast of the TFR will oblige crypto-asset service providers to detect and stop criminal crypto flows and also ensure that all categories of crypto companies are subject to the full set of anti-money laundering obligations. This will close a major loophole in our AML framework and implement in the EU the most ambitious travel rule legislation in the world so far, in full compliance with international standards.”

Co-rapporteur for the Civil Liberties, Justice and Home Affairs Committee Assita Kanko (ECR, BE) said: “Parliament and Council have found a fair compromise that will make it safer for people of good will to hold and trade crypto assets. However, it will make it more difficult for criminals, terrorists and sanctions evaders to misuse crypto assets. Any administrative burden on crypto companies and innovators will be more than offset by the fact that we are unifying the currently fragmented European market that has 27 regulatory regimes.”
Next steps
The texts will now have to be formally endorsed by Council, before publication in the EU Official Journal. They will enter into force 20 days later.
In adopting this legislation, Parliament is responding to citizens’ expectations to set safeguards and standards for the use of blockchain technology as expressed in Proposal 35(8) of the conclusions of the Conference on the Future of Europe.
 
Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/crypto-assets-green-light-to-new-rules-for-tracing-transfers-in-the-eu</link><guid>3167</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Crypto-Assets: Green Light to New Rules for Tracing Transfers in the EU</dc:text></item><item><title>Ondato Rolls Out Its Know Your Business Solution in Poland</title><description><![CDATA[London-based regtech firm Ondato has launched an expanded Know Your Business (KYB) solution to give local and international organisations operating in Poland automated tools for fully compliant business customer onboarding.
The extended coverage provides complete data about Polish entities, including the latest sanctions lists.
This enables online banks, Electronic Money Institutions (EMIs), credit institutions, cryptocurrency marketplaces, gambling services companies, legal and audit advisors, and more to verify the legal status and compliance of customers in Poland




   



    
   


   








Unlike KYC, which addresses consumer onboarding, KYB processes analyse business customers’ data and information to prevent sanctions breaking, fraud, money laundering, and terrorist financing.
They make it harder for sanctions-listed entities and criminals to disguise illegitimately obtained funds as income by showing companies’ relationships with any other businesses or institutions.
KYB procedures include ultimate beneficial ownership (UBO) as a transparency mechanism, revealing who is directly benefiting from the business’ profits.
It is essential for KYB to comply with the European Union’s 5th AML Directive (5AMLD) that was introduced in 2020.
In addition, Poland’s parliament passed its first sanctions regime in 2022, including many entities related to the ongoing war in Ukraine and covering payment operators, notaries, auction houses, and antique dealers, among others.
The Ministry of Internal Affairs and Administration in Poland added that the list will be expanded in the future. The penalty for non-compliance is a fine of over €4 million.
Liudas Kanapienis
Liudas Kanapienis, CEO and Co-founder of Ondato said,
“Ondato has moved to ensure local and international companies have the latest data about compliance-risk entities in Poland. We have enabled the safe automation of customer onboarding processes, removing the burden of manual KYB verification.

Ondato’s automated KYB verification puts our customers in the fast-lane, where they can overtake long and difficult onboarding processes, ensure accurate and reliable verification, and focus on their core business activities.”

]]></description><link>https://fintechnews.eu/ondato-rolls-out-its-know-your-business-solution-in-poland</link><guid>3165</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Ondato Rolls Out Its Know Your Business Solution in Poland</dc:text></item><item><title>Rental Deposit Meets ETF Investing: Evorest Closes Pre-seed Round</title><description><![CDATA[Newly founded Wealth/Prop-tech Startup Evorest raises seven-digit pre-seed financing from private investors to revolutionize the Swiss rental deposit market.
For the first time, tenants will be able to digitally invest their rental deposits in low-cost funds, instead of keeping their money locked up on low interest accounts.
Evorest is set-out to digitize the end-to-end rental deposit process for tenants and property managers, while reviving locked-up capital.




   



    
   


   








Tenants will be able to sign their rental deposit contract digitally and invest their locked-up capital in ETFs to earn a return that they get to keep. Those who don’t want to invest, can also open a conventional deposit account fully digitally. Evorest is working with a partner bank which manages the capital and thus guarantees the security of the deposits at all times.
Property managers will be able to open, modify and close rental deposit accounts with just a few clicks. By digitizing the entire customer journey, Evorest will make daily tasks more efficient and enable deposit openings in just 24 hours. In addition, property managers will receive an increased level of damage coverage if markets go up – while the paid-in deposit is always guaranteed.
With its launch planned for Q4 2023, the pre-seed funding will enable Evorest to implement its solution based on design prototypes and build the API interface with its Swiss-based partner bank.
Marc Schuster, Co-founder &amp; CEO | Gianluca Cottiati, Co-founder, COO &amp; CPO | Felix Graule Co-founder &amp; CTO
The team is comprised of Marc Schuster, Gianluca Cottiati and Felix Graule, who have diverse backgrounds in private equity, banking and data science. They all met during their career start at the Boston Consulting Group.
]]></description><link>https://fintechnews.eu/rental-deposit-meets-etf-investing-evorest-closes-pre-seed-round</link><guid>3166</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Rental Deposit Meets ETF Investing: Evorest Closes Pre-seed Round</dc:text></item><item><title>Stanford: Fintech Maintains Position as Third Biggest AI Investment Focus Area</title><description><![CDATA[In 2022, global private investment in artificial intelligence (AI) companies reached US$91.9 billion, a 18-fold increase compared with 2013. Of that sum, fintech companies secured the third largest amount, raising a total of US$5.5 billion, a new report released by the Stanford Institute for Human-Centered Artificial Intelligence (HAI) says.
The Artificial Intelligence Index Report 2023, released on April 03, sheds light on the impact and progress of AI over the past year, looking at trends in research and development (R&amp;D), technical performance, ethics, economics, policy, public opinion, and education.
According to this year’s report, fintech maintained its position as the third largest focus area for AI investment, securing 6% of global AI funding in 2022. Fintech followed medical and healthcare, the year’s top AI focus area with US$6.1 billion raised, and data management, processing and cloud with total private investment reaching US$5.9 billion.




   



    
   


   








Nearly all AI focus areas recorded a decline in private investment last year, reflective of the global venture capital (VC) downturn. Investment in both AI fintech and AI for the medical and healthcare sector declined by 46% in 2022 each. Investment in AI data management, processing and cloud, meanwhile, fell 51.6%.
Private investment in AI by focus area, 2021 versus 2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence
Globally, AI private investment declined by 26.7% in 2022 while the broader corporate investment landscape, which also includes AI mergers and acquisitions (M&amp;A), minority stakes and public offerings, pulled back by 31.3%.
Global corporate investment in AI by investment activity, 2013-2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence
Despite the downturn, AI fintech recorded some notable deals in 2022. These included the US$8 billion purchase of Avast by NortonLifeLock in the year’s third largest AI M&amp;A transaction; the US$1.48 billion minority stake event for Grupo de Inversiones Suramericana, the second biggest AI deal of this kind in 2022; and the US$820 million private investment secured by Faire Wholesale, the second largest AI private investment deal in the US last year.
AI moves to era deployment
The past year has seen AI reach a new level of maturity and shift towards deployment. New large-scale AI models are being released on a regular basis and are posting state-of-the-art results, the report says.
These models, which include chatbot ChatGPT, text-to-image models like DALL-E 2 and Stable Diffusion, and text-to-video systems like Make-A-Video, are capable of accomplishing an increasingly broad range of tasks and are demonstrating remarkable capabilities in question answering, and the generation of text, image, and code.
Generative AI, in particular, have been a hot topic in the tech sector over the past year, a trend that was fueled by the release of ChatGPT.
ChatGPT is a highly advanced AI language model developed by OpenAI that can generate human-life text responses to questions and prompts. The tool, which went viral last year, is capable of articulating answers across many domains of knowledge and can handle complex queries, debug computer programs, compose music, write poetry, and much more.
ChatGPT reached 100 million monthly active users months after its launch, making it the fastest-growing consumer application in history.
AI adoption on the rise
According to the Standard HAI report, AI usage has rapidly grown in the past half-decade. In 2022, half of the organizations surveyed by McKinsey reported having adopted AI in at least one business unit or function, up significantly from 20% in 2017.
In the financial services industry, product and/or service development was found to be the function AI capabilities were the most commonly implemented (31%), followed by service operations (24%) and strategy and corporate finance (23%).
AI adoption by industry and function, 2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence
Looking at AI capabilities, robotic process automation had the highest rate of embedding within financial services (47%). Natural-language (NL) text understanding came in second at 42%, followed by virtual agents with an adoption rate of 33%.
AI capabilities embedded in at least one function or business unit, 2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence
Organizations reported AI adoption has led to both cost decreases and revenue increases. On the cost side, the adoption of AI has most impacted supply chain management (52%), service operations (45%), risk (43%) and strategy and corporate finance (43%), the study found.
On the revenue side, the functions that most respondents saw increases in revenue as a result of AI adoption were marketing and sales (70%), product and/or service development (70%), and strategy and corporate finance (65%).
Cost decrease and revenue increase from AI adoption by function, 2021, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence
]]></description><link>https://fintechnews.eu/stanford-fintech-maintains-position-as-third-biggest-ai-investment-focus-area</link><guid>3164</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/abacus-Featured-Fintech-Product-300x250.jpg?x30842</dc:content ><dc:text>Stanford: Fintech Maintains Position as Third Biggest AI Investment Focus Area</dc:text></item><item><title>CAT Financial Products Taps Broadridge to Transform Its Front-To-Back Office</title><description><![CDATA[CAT Financial Products (CATFP), an independent Swiss provider of securities and investment services for structured products, announced that it has partnered with Broadridge Financial Solutions.
The partnership has helped CATFP to increase its front to back office processing efficiency by implementing Broadridge’s international multi-asset post-trade processing solution.
This has enabled CATFP to come up with an innovative operational model that combines principal trading for securities, derivatives, FX and crypto markets, together with its issuance and agency brokerage service for Actively Managed Certificates (AMCs).
Stephan Giselbrecht
“We are strategically positioned to gain new momentum through the development of structured products, AMCs and exchange-traded products, all delivered through an enhanced and differentiated client service offering.

Broadridge, through its advanced technology and outstanding service provision, stood out as our natural go-to partner to enable a frictionless, unified post-trade infrastructure and best-in-class service across all asset types.”
said Stephan Giselbrecht, COO, CATFP.
Danny Green
“We are proud to be supporting CATFP, giving them the strongest technology foundation at the heart of their business and supporting their stated mission to be ‘always ahead’ through the provision of differentiated client services.

They can depend on our unwavering commitment to drive efficiency through the highest levels of straight-through processing and API-enabled services that reduce risk and provide the flexibility and capacity for future growth, while optimising cost/income ratios.”
said Danny Green, Head of International Post-Trade Solutions, Broadridge.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/cat-financial-products-taps-broadridge-to-transform-its-front-to-back-office</link><guid>3163</guid><author>Administrator</author><dc:content /><dc:text>CAT Financial Products Taps Broadridge to Transform Its Front-To-Back Office</dc:text></item><item><title>Europe’s Top 10 Neobanks Serve a Combined 64M Customers</title><description><![CDATA[Changing customer behavior, technological advancements and an evolving regulatory landscape are fueling the rise of digital banking. So-called neobanks or challenger bank are rapidly capturing the market and are now serving a combined customer base of 1 billion people.
The figure showcases the traction neobanks have received and is reflective of the demand for digital, customer-oriented banking and financial services solutions coming from consumers, a new report by banking and payment technology company BPC and strategy consultancy Fincog says.
Within this ecosystem, Europe is among the most advanced digital banking markets in the world, the report says, a development that has been facilitated by supportive regulatory reforms such as the first and second Payment Services Directives (PSD1 and PSD2), as well as licensing regimes such as for electronic money institutions (EMIs).
This conducive regulatory environment has sparked a boom in digital banking services across Europe, which soared from just 57 players in 2014 to 162 in 2022. These numbers imply that the number of digital banks in Europe rose by a compound annual growth rate (CAGR) of 14% between 2014 and 2022.
Number of Digital Banks in Europe from 2014 to 2022, Source: Digital Banking in Europe, BPC and Fincog, 2023
The growth in popularity of neobanks in Europe is also evidenced by the number of customers these companies have amassed. Data from Fincog show that, as of Q1 2023, the region’s top ten biggest neobanks served a combined 64 million customers. Some research studies estimate that user penetration currently stands at about 7–10% and is expected to hit about 14% by 2027.
Across Europe’s 160+ neobanks, Revolut has emerged into the region’s largest player by customer base, standing far ahead of the pack with a reported 25.5 million customers.
Ranking second is Wise, a foreign exchange fintech company that has expanded its product offering to include personal and business accounts, an investment product, and a savings account. Wise counts 16 million customers.
Next is N26, a German digital bank with eight million customers; Monzo, a UK-based online bank serving seven million customers; and Lydia, a French fintech startup that started out as a payment platform before expanding to accounts, cards, lending, savings and investment, and which BPC/Fincog report says counts 5.5 million customers. Lydia, however, claims seven million users on its website.
Top 10 neobanks in Europe based on number of customers in millions, Source: Digital Banking in Europe, BPC and Fincog, 2023
Trying times bring about new opportunities
In addition to providing an overview of the current state of digital banking in Europe, the BPC and Fincog report also shares key trends shaping the market and opportunities present in the region for digital banks and businesses alike.
According to the report, the current economic landscape, marked by growing cost of living, ongoing influx of migrants, and disruptions in global supply chains, is introducing several challenges that require effective solutions and innovation from entrepreneurs and businesses.
In times like these, digital banks have an opportunity to support their customers’ financial and mental well-being by providing superior user experiences and product features that improve the way they manage their finances and access financial services.
For migrants, this could be providing flexible and affordable financial solutions like a wallet scheme associated with a bank account, the report says. The solution could enable migrants to receive government subsidies and support, access financial services, and facilitate the integration process.
This wallet solution could be designed with a payment proposition, which could enable migrants to pay for goods and services, both in their host country and in their country of origin. It could also offer money transfer services, a critical offering for overseas workers who often send money back home.
Another recommendation outlined in the report is the opportunity brought about banking-as-a-service (BaaS). By tapping into BaaS, digital banks can develop and expand their portfolio of products and services in a more cost and time-effective manner, the report says. Such offerings provide them with ways to tap into new revenue streams, acquire and retain new customers and ultimately drive-up customer lifetime value at a lower cost.
Finally, the report argues that digital banks should explore new customer segments. Micro, small and medium-sized enterprises (MSMEs), in particular, are a segment that’s been particularly hit by the economic downturn and which represents a significant business opportunity to the banking sector, the report says.
Despite being the backbone of the European economy, 20% of SMEs in the region struggle to gain access to financing, the report says, and with venture capital funding drying up this past year, the situation for many businesses has worsened.
One suggestion is to develop a hybrid channel approach that combines a complete and robust digital proposition for SME clients, including onboarding and servicing via digital channels, with human-led engagements for more complex needs and services, the report says.
]]></description><link>https://fintechnews.eu/europes-top-10-neobanks-serve-a-combined-64m-customers</link><guid>3162</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Number-of-Digital-Banks-in-Europe-from-2014-to-2022-Source-Digital-Banking-in-Europe-BPC-and-Fincog-2023.png?x30842</dc:content ><dc:text>Europe’s Top 10 Neobanks Serve a Combined 64M Customers</dc:text></item><item><title>SweePay and SMART VALOR Brings Crypto to Masses at National Railways, Retailers</title><description><![CDATA[The Swiss crypto exchange SMART VALOR and the financial intermediary SweePay has partnered to ensure that the purchase of cryptocurrencies at Swiss Federal Railways (SBB) ticket machines is simple, smooth and secure.
Since 2016, it has been possible to buy crypto at the 1,500 (expected number of ticket machines as of 2023) ticket machines of the SBB.
At the SBB ticket machines, users will receive their Bitcoin in a secure paper wallet when they buy the crypto. They will need to enter the desired amount (between CHF 20 and CHF 500), input their mobile phone number and confirm the TAN sent to the machine. The machine then prints out the paper wallet with the crypto amount purchased.
Additionally, SMART VALOR and SweePay have also enabled the purchase of crypto at Valora Holding’s sales outlets throughout Switzerland at the k kiosk, avec, and Press &amp; Books.
However, the process is quite different at the Valora points of sale as the customer has to buy a Start2Coin card from SweePay. This is a rechargeable card with an NFC memory chip that acts as a crypto wallet. This card costs CHF 29.90 once and can be used as long as desired. The customer presents the card, selects the amount and pays. The card is immediately topped up. If the customer wants to transfer his crypto to another address, he needs an NFC-enabled smartphone and an app from the card manufacturer Tangem.
The initiator of the project was SweePay, while the crypto exchange-technology behind the project comes from SMART VALOR, Switzerland’s only NASDAQ-listed full-service crypto exchange.
Zug’s “Crypto Valley” has developed into a real crypto hotspot in recent years, attracting more and more companies from the crypto sector.
Olga Feldmeier
Olga Feldmeier, Co-founder and Chairwoman of SMART VALOR said,
“We are very excited to be working with SweePay. This partnership fits perfectly with our B2B strategy of leveraging the enormous potential of our exchange through a wide range of distribution partners.

Every day, up to 1.25 million people travel on SBB trains and buy coffee or newspapers at Valora outlets.”
Rodolphe Texier
Rodolphe Texier, Co-founder and CEO of SweePay said,
“SMART VALOR is a competent, efficient and fast partner. They will be able to support our Swiss and European strategy.

The cooperation has worked very well from the first minute and we are convinced that we have found the right partner for our roadmap”.

]]></description><link>https://fintechnews.eu/sweepay-and-smart-valor-brings-crypto-to-masses-at-national-railways-retailers</link><guid>3161</guid><author>Administrator</author><dc:content /><dc:text>SweePay and SMART VALOR Brings Crypto to Masses at National Railways, Retailers</dc:text></item><item><title>Apple Card’s Savings Account With High Interest Is Now Available Only for U.S. Users</title><description><![CDATA[Apple has announced that its card users in the U.S. can now set up a savings account from Goldman Sachs which offers a high-yield APY of 4.15 percent. This is more than 10 times the national average according to the FDIC.
In a press statement, Apple said that there are no fees, minimum deposits or minimum balance requirements for the savings account. Users will be able to manage their savings account directly from the Apple Card in the wallet.
Once a savings account is set up, all future Daily Cash earned by the user will be automatically deposited into the account. The Daily Cash destination can also be changed at any time, and there’s no limit on how much Daily Cash users can earn.




   



    
   


   








Users can deposit additional funds into their savings account through a linked bank account, or from their Apple Cash balance to build on their savings even further.
According to Apple, users can also withdraw funds at any time through the savings dashboard by transferring them to a linked bank account or to their Apple Cash card, with no fees.
However, Apple did mention in its fine print that the APY may change at any time as the market fluctuates and a maximum balance limit of US$250,000 will apply.
It is worth noting that the annual percentage rate (APR) for the Apple Card range from a whopping 15.74 percent to 26.74 percent as of April 1, 2023 based on the user’s creditworthiness.
Jennifer Bailey 
“Savings helps our users get even more value out of their favorite Apple Card benefit — Daily Cash — while providing them with an easy way to save money every day.

Our goal is to build tools that help users lead healthier financial lives, and building Savings into Apple Card in Wallet enables them to spend, send, and save Daily Cash directly and seamlessly — all from one place.”
said Jennifer Bailey, Apple’s Vice President of Apple Pay and Apple Wallet.

This article first appeared on Fintech News America. 


]]></description><link>https://fintechnews.eu/apple-cards-savings-account-with-high-interest-is-now-available-only-for-us-users</link><guid>3160</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Apple Card’s Savings Account With High Interest Is Now Available Only for U.S. Users</dc:text></item><item><title>Europe’s 16 Most Influential Female Fintech Marketers in 2023</title><description><![CDATA[In the fintech sector, marketers have a critical role to play, helping fintech companies build their brand, gain consumers’ trust and drive business growth.
Earlier this month, the Fintech Marketing Hub, an online community platform dedicated to the world of fintech marketing, released its third edition of the Top 30 Most Influential Fintech Marketers, recognizing the industry’s C-level marketing executives behind the sector’s success.
These professionals were selected by a jury of marketing experts representing companies like Finastra and Square based on the degree of their influence and achievements over the past year, including their total reach across different channels, engagement levels, insights relevance, community involvement, media appearance, and notable achievements like brand campaigns, projects and awards.




   



    
   


   








Of the 30 marketers that made it into this year’s list, 16 are female professionals. These women are innovative, creative female leaders who are helping shape the fintech industry.
Amélie Arras, Marketing Director, Zumo

Amélie Arras is the marketing director of Zumo, a UK cryptocurrency wallet and payment platform. She joined the company in 2020 to help drive awareness of, and accessibility to, crypto.
At Zumo, Arras is responsible for identifying and harnessing the latest industry trends and ensuring that the company’s proposition fits with customers’ needs. She leads the marketing team that delivers on the marketing strategy and plan.
Arras has a rather unique background in the fintech and financial services sectors. Many know her as the first woman to travel the world using only bitcoin, demonstrating first-hand the real-life challenges of using an emerging payment method as well as the power of communities.
Betsy Samuel, CMO, Global Processing Services

Betsy Samuel is the chief marketing officer (CMO) of Global Processing Services (GPS), a global payments processor.
Samuel is a senior executive with over 30 years cross-functional experience in global financial services and fintech organizations. An expert in consumer payments behavior and the electronic banking ecosystem, she’s been a leader in the evolution, strategy and marketing of payments networks.
Prior to GPS, Samuel held key positions at Fiserv, First Data and the STAR debit network. Before relocating to London from the US, she was chief of staff within Fiserv’s digital banking and international groups.
Christina Walls, CMO, Intelliflo

Christina Walls is the CMO of Intelliflo, a provider of financial planning solutions.
At Intelliflo, Walls leads the marketing, communication and consumer experience strategies, and oversees the branding; digital, modern and partnership marketing; event planning; media relations; and internal communications.
Walls has over 18 years of business-to-business (B2B) and business-to-consumer (B2C) experience across a variety of industries and cultures on a global scale. She’s worked in the fintech, asset management, hospitability, professional services and charity sectors, across Europe, Asia and the UK.
Courteney Way, Senior Product Marketing Manager, Tide

Courteney Way is a senior product marketing manager at Tide, a provider of small and medium-sized enterprise (SME) business accounts in the UK.
Way is an experienced marketing leader having worked at early stage startups and scaleups across both B2B and B2C for more than ten years. She is highly adept at designing and executing global marketing and communications strategies to launch new products and services to market, drive new business and customer acquisition, and establish brand leadership across multiple territories.
Way’s key focus areas include integrated marketing strategies and execution; product marketing; growth and demand generation; go-to-market strategies and execution; brand and content strategies; corporate communications and public relations (PR); and team and stakeholder management.
Gemma Young, Chief Growth Officer, TechPassport

Gemma Young is the chief growth officer of TechPassport, a fintech firm that connects suppliers to global financial institutions and offers opportunities to sell products.
At TechPassport, Young is responsible for managing the company’s growth, in terms of revenue and audience growth; ensuring that marketing and sales blend together to achieve the business’ strategic objectives; and acts as a bridge between sales and marketing to collaborate, measure, and provide support for growth initiatives.
With a passion for diversity and inclusion, Young also is the creator and founder of the award-winning community, Women of Fintech, a fintech community of over 10,000 people to promote gender equality in the fintech industry.
Katarina Nordin, Head of Global Marketing, Adyen

Katarina Nordin is the head of global marketing of Adyen, a fintech platform that provides end-to-end payments capabilities, data-driven insights, and financial products.
At Adyen, Nordin heads up the global marketing function, reporting to the CCO. Her team focuses on driving revenue in close collaboration with commercial teams.
Nordin is an international executive with professional experience from the UK, the Nordics and Baltics, Germany and the Netherlands. Prior to joining Adyen, she worked as a global brand strategist at Ogilvy, where she learnt how to build bold brands, such as Dove, Tesco, Philips, American Express and Bacardi, and ensure marketing drives revenue.
Laure Boutron, Global Head of Marketing and Communication, Treezor

Laure Boutron is the global head of marketing and communication of Treezor, a French banking-as-a-service (BaaS) company.
At Treezor, Boutron is responsible for building and managing an international marketing and communications team, defining and executing the global go-to-market and communication strategy, as well as planning budget and projects in France, Benelux, Germany, Italy and Spain, including digital marketing campaigns, PR, field marketing, content strategy, social media, alliances and internal communication.
Boutron has more than 17 years of international experience in financial services and fintech, and has expertise in marketing, business development and communication. She is passionate about leading clever initiatives for business expansion, building alliances, marketing new offerings, communicating with key influencers and defining a relevant content strategy together with an efficient paid approach.
Lucy Heavens, VP Marketing, Hokodo

Lucy Heavens is the vice president of marketing of Hokodo, a UK business-to-business (B2B) buy now pay later (BNPL) solutions provider.
Heavens is a highly focused, goal-driven and creative professional with solid experience across the full marketing mix, including global market strategies and campaign management, digital marketing, product marketing, social media, influencer marketing, business development, lead/demand generation, analyst relations, PR, event management, and partner and affiliate marketing.
Heavens is an active commentator and thought leader on social media with expertise spanning fintech, regtech, big data and digital transformation, specifically within retail banking, private wealth and institutional asset management. She is regularly featured in the Planet Compliance Top 50 Regtech Influencers list, the Kurtosys 100 Women in Finance Power List, and was included in the 2017, 2019, 2020, 2021 and 2022 Innovate Finance Women in Fintech Power Lists.
Mia Iwama Hastings, Director of Marketing, Minna Technologies

Mia Iwama Hastings is the director of marketing of Minna Technologies, a Swedish company that specializes in subscription management embedded in banking and fintech apps. At Minna Technologies, Hastings leads the company’s global marketing strategy and team and is part of its management team.
Hastings is a senior executive specialized in fintech and finance marketing, product marketing and go-to-market strategy specialist and writer driving revenue growth, brand awareness and positive impact.
She has expertise in global B2B fintech, finance and tech, software-as-a-service (SaaS) and enterprise software marketing, product marketing and brand strategy, planning and execution, UK market entry and growth, business development, go-to-market strategies, ecosystems and partnerships, driving innovation, strategic communications and integrated digital strategy.
Miranda McLean, Chief Communications and Sustainability Officer, Banking Circle Group

Miranda McLean is the chief communications and sustainability officer of Banking Circle Group, a provider of B2B banking services from Luxembourg.
At Banking Circle Group, McLean oversees the marketing, communications and sustainability strategy for the group, with overall responsibility for communications and sustainability. Joining Banking Circle pre-launch, she created the brand identity and marketing strategy that took the startup to an award-winning multi-million-dollar business in under three years.
McLean has more than decades of professional experience during which she has built a considerable reputation for developing and executing successful strategic and operational marketing strategies for financial services businesses.
Niki Sotiropoulou, Group CMO, Viva Wallet

Niki Sotiropoulou is the group CMO of Viva Wallet, a Greek cloud-based neobank providing digital payments solutions and embedded banking services tailored to the needs of businesses.
At Viva Wallet, Sotiropoulou leads the global and local teams, focusing on driving merchant growth by leveraging all marketing channels.
Sotiropoulou is a senior executive with more than 17 years of experience in marketing and communications. Prior to joining Viva Wallet, she held roles at leading agencies such as Publicis, McCann and JWT.
Nim Haas, Global VP of Marketing, Pannovate

Nim Haas is the global vice president of marketing of Pannovate, a BaaS platform and orchestration layer that empowers financial and non-financial organizations to deliver seamless digital experiences and embedded finance.
Haas co-founded the first e-loan aggregator platform Credit-On-Line.com in France in 1998, which is today one of the largest e-loan platforms in that country. She recently created and launched The Payments Clinic series events in London which aims to address the pain points in designing the next generation fintech companies and digital banks.
Haas has been working in marketing and communication in the tech sector for over 20 years. She provides consultancy for numerous companies in fintech, paytech and regtech, and has advised and supported over 20 companies in their marketing and communication efforts in the last two years.
Nora Duggan, CMO, Taxback International

Nora Duggan is the CMO of Taxback International, an Irish firm specializing in value added tax (VAT) compliance, reclaim, consultancy, and tax technology.
A results-driven marketing leader, Duggan designs and implements strategic plans that drive revenue across multi-channels, delivering on brand growth. She specializes in strategic marketing planning, revenue generation, partnership formation and product development and innovative execution.
Duggan has a proven track record in developing strategic partnerships that add value to all stakeholders, and has a passion for innovation and delivering competitive advantage with clear return on investment (ROI). Throughout her career, she has directed and led numerous projects focusing on transforming organizational capabilities to meet growth ambitions.
Polly Gilbert, CMO at Tembo

Polly Gilbert is the marketing director of Tembo, a UK-headquartered fintech startup specialized in smart family lending. At Tembo, Gilbert leads the brand, growth, PR and customer success functions.
Prior to joining Tembo, Gilbert was the marketing director of Goodbox, a tech-for-good company. She also co-founded TAP London, an organization which connects generous Londoners with local homelessness services through contactless technology. Now run by the Mayor of London, TAP has raised half a million pounds for charity and has provided hundreds of hours of employment for homeless Londoners.
Sam Shrager, Executive Director, Marketing and Communications, BCB Group

Sam Shrager is the executive director of marketing and communications of BCB Group, a crypto-dedicated payment services provider from the UK.
At BCB Group, Shrager heads up PR and marketing, leads the strategy and execution for all communications, and works alongside senior stakeholders to position BCB Group as an industry leader.
Shrager is a marketing and PR and communications professional with over 30 years of experience working in the financial services industry and crypto sector. She’s also a renowned fintech and crypto social media influencer and passionate B2B thought leader.
Prior to joining BCB Group, she served in a number of senior marketing positions at business such as Arbion, Bluepod Media Worldwide, NKB Group, GEODYNAMICS WorldWide, and more.
Sangeetha Narasimhan, ex-Global Acquisition Marketing, Mambu

Sangeetha Narasimhan is an internationally experienced growth-focused leader with a track record of scaling brands, bringing together diverse stakeholders to build unified growth teams and driving revenue for SaaS-based businesses.
Narasimhan has successfully built momentum and scale for several different SaaS-based businesses ranging from enterprise-level organizations to startups including Sage Pay, Ingenico ePayments/Worldline and Mambu. Her expertise spans across marketing, partnerships, sales and customer experience.
At Mambu, Narasimhan led the marketing operations and demand generation functions. She was responsible for marketing revenue contribution, the strategy, structure and management of global acquisition marketing functions, as well as for performance optimization around acquisition, engagement, adoption and monetization across the buyer journey.
]]></description><link>https://fintechnews.eu/europes-16-most-influential-female-fintech-marketers-in-2023</link><guid>3159</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Europe’s 16 Most Influential Female Fintech Marketers in 2023</dc:text></item><item><title>Money20/20 Europe Unveils Speaker Lineup</title><description><![CDATA[Money20/20 unveils its agenda for the upcoming Europe show in Amsterdam, June 6-8th.
Over 300 speakers are expected to join Money20/20 Europe this year. They include top executives from global banks including HSBC, Barclays, Deutsche Bank, NatWest, and Citi; cutting edge payments providers including GoCardless and Stripe along with expanding fintechs such as Plum, Bunq, and Zilch to name a few.
Money20/20 Europe is also welcoming the CEO of the London Stock Exchange, the Tel Aviv Stock Exchange, the Regtech Association, the European Banking Authority, and the Israel and German Ministries of Finance to their stages.
Tracey Davies
“We are proud to present an agenda designed to help the industry build bridges from the challenges of right now to the incredible opportunities of what is next. Money20/20 Europe is the place where money does business. We can’t wait to open the doors to the RAI Amsterdam Convention Centre on June 6th, fueling the industry with inspiration, knowledge sharing, genuine in-person connections and so much more,” said Tracey Davies, President of Money20/20.
Hiroki Takeuchi
Hiroki Takeuchi, Co-founder and CEO of GoCardless, a global leader in direct bank payments, is one of Money20/20 Europe high profile speakers.
“I’m excited to speak at Money2020. I hope my session on the future of payments will encourage everyone to seize the once-in-a-generation opportunities in front of us and push innovations like open banking to their full potential, helping business and consumers everywhere,” said Hiroki Takeuchi.
While the show covers the breadth of topics in fintech, this year ESG is holding a larger space with over 10 sessions dedicated to the subject with speakers from Visa, Frontier, the Ellen McArthur Foundation, and platforms such as Patch and Parley.
Gerrit Sindermann
Gerrit Sindermann, Deputy Executive Director at Green Digital Finance Alliance, a Swiss-based not-for-profit catalyst of next generation green digital finance will be moderating the panel Sustainability: Tick Box or Choice.
“At GDFA, our mission is to drive financial innovation for climate, nature, and biodiversity challenges across the global ecosystem. We see Money20/20 Europe as an impactful platform for helping us shape the green digital finance landscape globally.”
The Money20/20 Europe agenda of confirmed speakers can be found here. Fintech News Network readers are entitled to an extra €200 off the pass price with the exclusive promo code – ‘FNN200‘. Click here to purchase your tickets.

]]></description><link>https://fintechnews.eu/money2020-europe-unveils-speaker-lineup</link><guid>3157</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Money2020-Europe-Save-E200-with-code-FNN200.png?x30842</dc:content ><dc:text>Money20/20 Europe Unveils Speaker Lineup</dc:text></item><item><title>Twitter Ties up With eToro to Enable Users to View Real-Time Stocks, Crypto Prices</title><description><![CDATA[Multi-asset investment company eToro has partnered with Twitter to enable the social media platform’s users to instantly see real-time prices for a wider range of stocks, crypto and other assets when using the new $Cashtags feature.
Twitter added pricing data for $Cashtags in December 2022 and the feature has seen widespread adoption with more than 420 million searches for $Cashtags since the start of the year.
Currently, Twitter users searching using a $Cashtag symbol will see live price charts for a select few financial assets. Following the launch of the eToro partnership, the list of $Cashtags that produce live price charts will be hugely expanded,




   



    
   


   








Users will now also be able to click through to the eToro platform to see more information on the asset and have the option to invest.
The partnership will cover $Cashtags representing a wide range of instruments on the eToro platform, from stocks and ETFs to crypto and commodities.
Yoni Assia
Yoni Assia, CEO and Co-Founder of eToro said,
“Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse.

As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets.”
Chris Riedy
Chris Riedy, Vice President, Global Sales &amp; Marketing at Twitter said,
“Twitter is what’s happening and what people are talking about right now. We believe real change starts with conversation and finance and investing is a growing part of that conversation.

We are pleased to partner with eToro to provide Twitter users with additional market insights and greater access to investment capabilities. Twitter will continue to invest in growing the #FinTwitter community.”

This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/twitter-ties-up-with-etoro-to-enable-users-to-view-real-time-stocks-crypto-prices</link><guid>3158</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Twitter Ties up With eToro to Enable Users to View Real-Time Stocks, Crypto Prices</dc:text></item><item><title>Kaspar&amp; lanciert Säule 3a Sparlösung</title><description><![CDATA[Das seit März 2022 aktive St.Galler Startup Kaspar&amp; erweitert sein Produktangebot um eine voll-integrierte Säule 3a Lösung.
Während das Jungunternehmen bisher vor allem durch die Möglichkeit des Aufrundungssparens aufgefallen ist (hierbei wird bei jeder Zahlung mit der eigenen Prepaid Mastercard auf den nächsten Franken aufgerundet und das Wechselgeld automatisch in angelegte Sparpläne investiert), stösst es nun auch in den wichtigen Vorsorgebereich vor. Damit bietet Kaspar&amp; neben einer kostenlosen Konto- und Kartenlösung, Microinvestments und der Vermögensverwaltung neu auch Vorsorge in nur einer App an.
Die Kaspar&amp; 3a Lösung kann mit wenigen Klicks direkt in der App eröffnet werden und umfasst nebst einer kostenlosen Kontolösung die Möglichkeit, in unterschiedliche Anlagelösungen zu investieren, welche von Kaspar&amp; verwaltet werden. Insgesamt können Kunden bis zu 5 unterschiedliche 3a Konti eröffnen und jederzeit zwischen den unterschiedlichen Anlagestrategien sowie der Kontolösung wechseln. Als Besonderheit besteht zudem die Möglichkeit, dass der kartenbasierte Aufrundungsmechanismus auch für die eigene 3a Vorsorge genutzt werden kann.




   



    
   


   








Jan-Philip Schade
“Durch den konsequenten Fokus auf die nahtlose Verschmelzung der 3a Lösung in unsere Gesamtapp, wird persönliche Vorsorge so einfach wie noch nie”
berichtet Jan-Philip Schade, einer der vier Gründer von Kaspar&amp;.Das Entwicklungsziel lag voll und ganz auf der Einfachheit der Lösung:
“Unsere Kund:innen können bei jeder Zahlung aufrunden und somit für ihre Vorsorge sparen, direkt von ihrem Kaspar&amp; Konto beliebige Beträge einzahlen, ihre Strategie anpassen oder sogar Überträge von bestehenden Sparplänen in ein 3a Ziel vornehmen. Alles mit nur wenigen Klicks.”
Die neue 3a Lösung soll das Unternehmen vor allem weiter auf seinem Wachstumskurs unterstützen und dabei helfen, die Hürden für Kunden im Anlagebereich noch weiter abzubauen.
]]></description><link>https://fintechnews.eu/kaspar-lanciert-saule-3a-sparlosung</link><guid>3156</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Kaspar&amp; lanciert Säule 3a Sparlösung</dc:text></item><item><title>A New Digital Banking Platform Launched for Corporate Clients in Austria</title><description><![CDATA[The well-known digital banking by Erste Bank and Sparkasse is available for corporate clients for the first time. The completely new and stand-alone business banking platform is being launched under the name George Business.
Hans Unterdorfer
“George Business is the business banking of a new era. Like George, George Business is very easy and intuitive to use and has a high level of stability. At the same time, the platform also supports companies that need comprehensive financial management. This ranges from large industrial companies to property management companies and real estate project developers to handicraft businesses,”
says Hans Unterdorfer, Chief Corporates Officer of Erste Bank Oesterreich.
The new George Business offers a customisable user management, signing authorisations, multi-account management, card management and many other additional features for the business world, which will continuously expand in the future. A novelty among business banking solutions in Austria is the possibility of a completely digital registration for new customers with access to an active bank account and George Business within minutes. Also new is the George Business app for iOS and Android, which allows entrepreneurs to keep track of all accounts, cards and financing as well as approve and create orders while on the move.




   



    
   


   








Planned For All Erste Group Markets
George Business is being launched in Austria first. At the same time, it is planned to roll out George Business as a group-wide platform in all Erste Group markets in the future. With a consistent customer experience and brand, consistent service levels and quality standards are to be ensured. In the long term, George Business is to replace all previous local business banking offerings in Erste Group.
New Large-scale Campaign Introduces George Business
For several months, George Business has been available for selected customers. Now the new digital Business Banking is being widely rolled out and will be introduced with a large-scale advertising campaign. The slogan is: Welcome to a new era. George Business is here.
A commercial illustrates how George Business is a technological quantum leap, transforming old 8bit work environments into the present. The 360-degree campaign is now running on TV, radio, online and out-of-home.
]]></description><link>https://fintechnews.eu/a-new-digital-banking-platform-launched-for-corporate-clients-in-austria</link><guid>3155</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>A New Digital Banking Platform Launched for Corporate Clients in Austria</dc:text></item><item><title>New Paper Explores Pros and Cons of Central Bank Digital Currencies</title><description><![CDATA[Central bank digital currencies (CBDCs), a digital form of a government-issued currency that’s pegged to a physical commodity, have gained notable traction over the past couple of years, prompted by technological advances and a decline in the use of cash.
Central banks from all around the world are now exploring their potential benefits, investigating the merits of a government-issued digital currency to improve process efficiencies, increase convenience, reduce risks, and enhance financial inclusion.




   



    
   


   








According to the International Monetary Fund, nearly 100 CBDCs were in research or development stages in July 2022, with two being fully launched.
The number of central bank digital currencies under research and development around the world, Source: International Monetary Fund, Sep 2022
In a new paper, Patrick Schueffel, adjunct professor at the Institute of Finance of Fribourg’s School of Management, gives a comprehensive overview of the advantages and disadvantages of CBDCs compared to currently existing monetary system, arguing that while CBDCs promise a great deal of benefits, these technologies also introduce a number of risks and come with several drawbacks.
Benefits of CBDCs
According to the paper, the main benefits brought by CBDCs revolve around their ability to address issues related to efficiency, costs and access.
Because CBDCs are legal tenders that are electronically issued, CBDCs can be directly credited to digital wallets. This make CBDCs accessible via mobile phones and other digital devices, facilitating thus access to financial services for individuals and businesses, especially those in remote or underserved area, the paper says.
CBDCs could also held reduce crime, in particular financial fraud, by supporting know-your-customer (KYC) protocols. CBDC enables customers to use unique digital fingerprints to identify themselves to financial institutions, and allows for easy verification of identity. This would ultimately lead to reduced financial fraud since all transactions are traceable and thus adhere to higher anti-money laundering (AML) and KYC standards then current cash.
Another advantage of CBDCs outlined in the report is that they do not entail any credit risk for payment system participants. Since CBDCs are issued by the central bank, transactions are settled directly with the central bank. This eliminates the risk of default or counterparty risk that exists in traditional banking systems, which would subsequently increase the security and stability of a financial system.
Another key attribute of CBDCs is their programmability. This characteristic allows for more opportunities to implement efficient monetary policies, allowing central banks to bypass intermediaries and directly target sectors or groups.
Finally, the last advantage outlined in the paper is the potential of CBDCs to improve data privacy. Digital payments today are provided by private enterprises that use the troves of data they garnered from their customers for commercial purposes. Public digital money has a comparative advantage at providing privacy because, unlike private sector alternatives, it is not bound by profit-maximization incentives.
Disadvantages of CBDCs
Despite the many benefits and opportunities brought about digital currencies, the paper warns of major drawbacks and pitfalls of CBDCs, especially regarding their potential impact on privacy and freedom.
With CBDCs, governments would gain access to a vast database containing any transaction that any individual or legal entity has ever made. This could lead to increased surveillance of financial transactions.
The programmability of CBDCs would also give the administration the possibility to impose spending caps and restrictions on certain individuals or groups of citizens, limiting their financial freedom and ability to transact. Limits could also be imposed on what citizens can buy or consume, whether by targeting specific industries or goods and services.
With CBDCs, spending blocks and transfer blocks can be easily implemented. The government could use CBDCs to freeze or block the accounts of individuals or organizations that are deemed to be engaging in suspicious or illegal activities, thereby restricting their financial resources and ability to transact.
CBDCs can also be used to restrict capital outflows and currency exports. For the individual consumer, this could mean tangible foreign exchange limits by restricting the amounts of currency that can be converted into foreign currency and the amount of money that could be brought abroad.
Besides privacy concerns and monetary controls, the paper notes that CBDCs could potentially negatively impact financial stability. Since CBDCs are issued directly by central banks, this could lead to a decrease in the volume of traditional bank deposits, prompting a decline in the profitability and stability of commercial banks, the paper says.
Finally, just like any other digital payment systems, CBDCs are vulnerable to cybersecurity attacks, account and data breaches, and theft. A successful hack could result in electronic counterfeiting of money, the theft of funds, or even to a disruption of the financial system and ultimately loss of confidence in the currency, the paper says. Additionally, CBDCs are dependent on electricity, meaning that outages and disruptions in these services could lead to a loss of access to funds, potentially disrupting the entire financial system.
Pros and cons of central bank digital currencies on societal and individual levels, Source: CBDCs: Pros and Con, Patrick Schueffel, Institute of Finance of Fribourg’s School of Management, March 2023
]]></description><link>https://fintechnews.eu/new-paper-explores-pros-and-cons-of-central-bank-digital-currencies</link><guid>3154</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>New Paper Explores Pros and Cons of Central Bank Digital Currencies</dc:text></item><item><title>Swiss Central Bank Payment Vision Outlining Focus on DLT, Tokenization and Instant Payments</title><description><![CDATA[The Swiss National Bank (SNB) has shared how it intends to “future-proof” the domestic payment ecosystem, outlining its ambition to leverage technologies and processes including tokenization and distributed ledger technology (DLT) to establish an “efficient, reliable and secure ecosystem” that’s geared towards “the future of cashless payments in Switzerland,” SNB governing board member, Andréa Maechler, said during an event on March 30, 2023.
The payment system is undergoing a profound transformation, driven by ongoing digitalization and the increasing use of new technologies, Maechler told the audience in her speech at the semi-annual Money Market event. These are enabling new forms of money and are fundamentally changing the way people make payments.
Thomas Moser and Andréa Maechler at the 2023 March Money Market event, Swiss National Bank
To prepare Switzerland for this new era, Maechler said the central bank is exploring different technologies that would support the agency’s aspiration of more efficient and faster cashless transactions.




   



    
   


   








Though it is unknown whether or not DLT and tokenization will play a role in the financial system of the future, she said the SNB is “open to DLT” and the token ecosystem, recognizing these technologies’ potential for efficiency gains and risk reduction.
Integrating central bank money into a regulated token environment
DLT, “one of the biggest innovations in the fintech area”, has witnessed notable traction from the private sector, Maechler said, owing to the technology’s ability to simplify the booking of transactions and eliminate the need for costly and error-prone reconciliation processes between different databases on different systems.
DLT also allows assets such as securities, real assets like real estate and commodities, as well as money to be securitized in the form of digital tokens, which are then represented and managed in a decentralized and fraud-proof network.
In this context, the SNB said it is conducting a study on how central bank money can be made available in a regulated token environment. This project focuses on examining three models for token settlement, and is being undertaken in collaboration with the regulated financial market infrastructures and other market participants.
SNB is examining three models for secure and efficient token settlement, Source: Andréa M. Maechler/Thomas Moser, Swiss National Bank, March 30, 2023
The first model involves synchronized settlement and is centered around expanding the existing functionalities of Switzerland’s real-time gross settlement system (RTGS) to support token settlement, the SNB said. It focuses on creating a link between Switzerland’s central payment system, the Swiss Interbank Clearing (SIC), to the new DLT system.
The so-called RTGS link was tested in partnership with SIX, the operator of Switzerland’s financial infrastructure, and the Bank for International Settlements (BIS), in Phase I of Project Helvetia, and though such synchronization was shown to be technically feasible, the model revealed some drawbacks compared with integrated settlement including limited DLT functionalities, the SNB said.
RTGS link (model 1), Source: Andréa M. Maechler/Thomas Moser, Swiss National Bank, March 30, 2023
The second model focuses on integrated settlement using a Swiss franc wholesale central bank digital currency (wCBDC). This model was also explored in Phases I and II of Project Helvetia during which a Swiss franc wCBDC was issue on the test environment of SIX Digital Exchange (SDX).
Building on insights gained from this experiment, the SNB said it will further explore the operational basis that would enable it to issue wCBDC for settlement purposes, should the need arise in the future. As part of the project, real wCBDC will be issued on SDX for a limited time and selected transactions will be tested with market participants, the central bank said.
Wholesale CBDC (model 2), Source: Andréa M. Maechler/Thomas Moser, Swiss National Bank, March 30, 2023
Finally, the third model involves integrated settlement using private Swiss franc token money that is protected under bankruptcy law. As part of the project, the SNB said it aims to examine ways in which private token money that is backed one-to-one by sight deposits at the central bank, can be legally structured in such a way that, in the event of the bankruptcy of the token issuer, it would have a risk profile comparable to that of central bank money.
Backed private token money (model 3), Source: Andréa M. Maechler/Thomas Moser, Swiss National Bank, March 30, 2023
Instant payments as another critical capability
Besides token money and DLT, instant payments are another pillar of the Swiss central bank’s payment strategy. This trend builds on demand from consumers for increased speed, the ongoing digitalization and a changing regulatory landscape that’s driving innovation and new business models, the SNB said.
Instant payments allow retail payments to be completely processed in real-time, around the world and from customer to customer. By settling all payment steps in real-time, instant payments bring important benefits, including shorter settlement chains, lowered risks and reduced costs, it said.
Instant payments can also add value to cross-border payments by linking national schemes to one another. This could potentially improve remittance services and cross-border transactions by lowering costs, increasing innovation and improving processing speed. Initiatives like the BIS-led Project Nexus are exploring this opportunity.
Real-time payments are scheduled for rollout in Switzerland next year. Starting August 2024, all banks operating in Switzerland and processing over 500,000 payments per year will be required to implement the new standard and be able to receive instant payments, the SNB has mandated. In an initial phase, these real-time transfers will be capped at CHF 20,000.
The second phase will require all participants in the SIC network to be able to receive and execute real-time transfers by the end of 2026.
In addition to priority introduction at banks, instant payments will also be implemented as an account-to-account (A2A) payment method in retail, as well as e-commerce.
]]></description><link>https://fintechnews.eu/swiss-central-bank-payment-vision-outlining-focus-on-dlt-tokenization-and-instant-payments</link><guid>3153</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Thomas-Moser-and-Andrea-Maechler-at-the-2023-March-Money-Market-event-Swiss-National-Bank.jpeg?x30842</dc:content ><dc:text>Swiss Central Bank Payment Vision Outlining Focus on DLT, Tokenization and Instant Payments</dc:text></item><item><title>Schweizer HSG Startup Studie zeigt regulatorischen Handlungsbedarf</title><description><![CDATA[Im Auftrag der Swiss Entrepreneurs &amp; Startup Association SWESA hat die Universität St. Gallen die Rahmenbedingungen für Startups in der Schweiz aus juristischer und wirtschaftlicher Sicht umfassend untersucht.
Während die Hochschullandschaft und die Finanzierungsbedingungen für Jungunternehmen als befriedigend angesehen werden, zeigen sich deutliche Defizite hinsichtlich der administrativen Anforderungen. Insbesondere der Gründungsprozess in der Schweiz ist im internationalen Vergleich zu komplex, langwierig und kostspielig.
Die Schweiz bietet gute Voraussetzungen für Startups und hat z.B. mit On, Mindmaze oder Wefox einige sogenannte «Unicorns» hervorgebracht, also schnell gewachsene Unternehmen, die mit über einer Milliarde US-Dollar bewertet sind. Als Land, das regelmässig Rankings wie den «Global Innovation Index» anführt und über eine exzellente Hochschullandschaft und einen starken Finanzplatz verfügt, sind die Rahmenbedingungen hier sehr gut. Trotzdem muss man sich die Frage stellen, wäre ggf. noch mehr möglich?




   



    
   


   









Forschende der Universität St. Gallen (HSG) sind dieser Frage nachgegangen und haben neben den positiven Aspekten auch einige Hemmnisse ausfindig gemacht: So empfinden die befragten Expert:innen im Schweizer Startup-Ökosystem den bürokratischen Prozess der Unternehmensgründung als sehr Komplex. Von der Vorbereitung der nötigen Dokumente über die öffentliche Beurkundung sowie die Anmeldung beim Handelsregister sind zeitraubende physische Vorgänge nötig, statt online in einem One-Stop-Shop und mittels digitalen Notariats gründen zu können. Hier hinkt die Schweiz in puncto digitale Lösungen gegenüber anderen Ländern hinterher.
Basis für politische Vorstösse
Die Studie wurde von der HSG im Auftrag der Swiss Entrepreneurs &amp; Startup Association SWESA erstellt. Der Verband setzt sich für die Verbesserung der wirtschaftspolitischen Rahmenbedingungen für Startups und innovative KMU in der Schweiz ein und führt das Sekretariat der parlamentarische Gruppe Startups und Unternehmertum. Die Schweizerische Mobiliar Genossenschaft hat die Studie als Gönnerin unterstützt.
Die Studie «Unicorn Nation Switzerland» steht unter diesem Link zur Verfügung.

]]></description><link>https://fintechnews.eu/schweizer-hsg-startup-studie-zeigt-regulatorischen-handlungsbedarf</link><guid>3152</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Schweizer HSG Startup Studie zeigt regulatorischen Handlungsbedarf</dc:text></item><item><title>Finanzguru Bags €13 Million in Fundraise Led by SCOR Ventures, PayPal</title><description><![CDATA[Finanzguru, a German financial advisor enabled by open-banking, announced that it has raised €13 million in a funding round led by new investors SCOR Ventures and PayPal Ventures. This brings its total funds raised to €27 million since its launch in 2018.
The round was also joined by existing investors including Deutsche Bank, coparion, VR Ventures, Hannover Digital Investments, Venture Stars and former Postbank CEO Frank Strauss.
Finanzguru said that it will use the funding to accelerate its growth in Germany while further expanding its product platform. The company will also significantly strengthen its current team of 70 employees.




   



    
   


   








The company reported tripling its revenue in 2022 and that it is now generating annualised revenues of over €10 million with more than 1.5 million registered users.
Alexander Michel
Alexander Michel, Co-founder and co-CEO of Finanzguru said,
“We have broken new ground with our financial advice products, which are based on a digital analysis of each customer’s payment transactions and unique financial situation.

Our already strong growth shows that our products are resonating with customers, and we are now focused on expanding our insurance and pension business.”
Benjamin Michel
Benjamin Michel, Co-founder and co-CEO of Finanzguru said,
“By adding personal financial advice as an offering in the Finanzguru app, we are meeting a real need in the German consumer market.

This has allowed us to greatly expand our business over the past 18 months. We are pleased to be able to continue to drive growth with the support of two new high-profile investors”.


Featured image credit: Alexander Michel and Benjamin Michel, co-founder and co-CEO of Finanzguru
]]></description><link>https://fintechnews.eu/finanzguru-bags-13-million-in-fundraise-led-by-scor-ventures-paypal</link><guid>3150</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Finanzguru Bags €13 Million in Fundraise Led by SCOR Ventures, PayPal</dc:text></item><item><title>Swiss Post to Issue Newest AI Swiss Crypto Stamp</title><description><![CDATA[Following the successful launches of the Swiss Crypto Stamp in the last two years, Swiss Post will be issuing the third generation, Swiss Crypto Stamp 3.0, on 2 May 2023.
Once again, Swiss Post is uniting the analogue world of the stamp collector with the digital world of the crypto-collector, as the Swiss Crypto Stamp 3.0 also consists of two parts. While it is a physical stamp worth 9 francs, each crypto stamp also has its own digital image, known as a non-fungible token (NFT). The NFT is stored in a blockchain and can be collected, exchanged and traded online.
Swiss Post
First time for a crypto stamp without an associated digital theme
The Swiss Crypto Stamp 3.0 consists of 14 different versions in a limited print run of 225,000 copies. Depending on the version, the print run consists of 50 to 65,000 copies. So, once again, there are rarer and more common themes. 13 versions have a specific NFT. For the first time, Swiss Post is also issuing a crypto stamp version without an NFT. The crypto stamp without an NFT is intended especially for people who want to purchase the crypto stamp only as a physical collector’s item. Also new with the third Swiss crypto stamp is that prices vary depending on theme and print run, for example depending on the rarity of the NFT.




   



    
   


   








Swiss Crypto Stamp 3.0 greatly influenced by artificial intelligence
The images for the Swiss Crypto Stamp 3.0 were created as part of the Swiss Digital Days event in autumn 2022. Visitors to the digitalswitzerland road show used artificial intelligence to create unique works of art that were incorporated into the Swiss Crypto Stamp 3.0 design. Specifically, they chose a term from each of three categories: Switzerland, digitization and artistic style. With the help of artificial intelligence, a piece of software created around 2,500 unique works of art. Swiss Post used a selection of these for the Swiss Crypto Stamp 3.0.
The Swiss Crypto Stamp 3.0 will be available at postshop.ch from 2 May 2023, and can be ordered in all self-operated Swiss Post branches. The version without an NFT will also be physically available at the counters of selected larger branches.

]]></description><link>https://fintechnews.eu/swiss-post-to-issue-newest-ai-swiss-crypto-stamp</link><guid>3151</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Swiss-crypto-stamp-1024x576.jpeg?x30842</dc:content ><dc:text>Swiss Post to Issue Newest AI Swiss Crypto Stamp</dc:text></item><item><title>Forrester Guide: How to Choose a Digital Banking Engagement Platform</title><description><![CDATA[Faced with changing customer expectations and mounting competition from new market entrants, banks are increasingly turning to digital banking engagement platforms (DBEPs) for new digital banking capabilities, rich and flexible digital front ends, and seamless employee experiences across touchpoints.
DBEPs are cross-channel banking solutions designed to enable integrated, comprehensive and superior experiences for both banking customers and staff members. These platforms allow banks to quickly engage with their customers across a broad set of channels, help them build a modern, agile, digital architecture, and support rapidly changing business requirements and models.
Banks can use DBEPs in a variety of scenarios, including as a pure, digital front-end platform, as a supplementary engagement layer, or as an enabler of digital banking transformation.




   



    
   


   








In a new report, research and advisory company Forrester looks at the rapidly evolving DBEP market, providing an overview of 38 different platforms and delving into their type of offering, geography and use case differentiation. The paper aims to help professionals understand the value they can expect from each vendor, how they differ from one another, and help financial institutions select the most relevant provider based on their size and market focus.

Lack of corporate banking use cases
According to the report, DBEPs now represent an established market with a growing number of vendors. Most of the players selected for the study cater well to retail banking, supporting use cases such as new retail banking customer onboarding, consumer products origination, consumer account management and improved digital customer service.
However, slightly more than half of the DBEPs in the report claim to support complex corporate onboarding journeys, and fewer than a third deliver experiences around use cases for cash and liquidity management, digital corporate credit facility, and trade finance.
CoCoNet is among those with the most comprehensive corporate and business banking offering, findings of the research show, supporting complex customer onboarding and providing cash and liquidity management capabilities in addition to digital corporate credit facility.
Trade finance, meanwhile, is one of the most scarce use cases, provided by only six of the companies studied, namely CR2, EdgeVerve, Finshape, NETinfo, Tagit and Temenos. Trade finance is followed by cash and liquidity management, with just seven companies providing the feature (Capital Banking Solutions, CoConet, EdgeVerve, FIS, ICS Financial Systems, Infocorp and Tagit), and digital corporate credit facility, which is offered by eight DBEP providers (Capital Banking Solutions, CoCoNet, Etronika, Finshape, Layer, Silverlake Axis, Tata Consultancy Services and Veripark).
Besides corporate and business banking, the research also looks at two other compelling use cases, namely embedded finance and ecosystem participation, as well as support for retail trading.
Only three providers (Comviva, Tata Consultancy Services and Ti&amp;m) were found to offer retail trading capabilities, the report says, while, at the other end of the spectrum, embedded finance and ecosystem integration were found to be widely adopted by the sector, supported by 16 DBEPs.
Geographic focus
The study also looks at the geographic focus of each companies, revealing that most of the larger players with over US$175 million in product revenue are focusing on the North American region. These include Alkami Technology, FIS and Q2 Software.
Dutch banking technology company Backbase and Swiss enterprise software provider Temenos are the only two large DBEP firms with a considerable presence across multiple regions, including Europe, the Middle East and Asia-Pacific (APAC).
Medium-sized DBEPs with product revenue between US$20 million and US$175 million show more diversity, with some, including EdgeVerve, Intellect Design Arena, Oracle and Tata Consultancy Services covering APAC, while others including Veripark, Ti&amp;m and and Sopra Banking Software are focusing on the European market among other regions.
Smaller players with product revenue between US$11 million and US$20 million are an even more disparate group. Platforms like Cobis Topaz, CoCoNet and CR2 focus on only one geography, while others, like Capital Banking Solutions, ebankIT and SAP Fioneer show significant revenue in three or more geographies.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/forrester-guide-how-to-choose-a-digital-banking-engagement-platform</link><guid>3149</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Forrester Guide: How to Choose a Digital Banking Engagement Platform</dc:text></item><item><title>EU Rules on Crypto Assets Transfers Set to Tighten</title><description><![CDATA[Last week, Members of the European Parliament (MEPs) voted in favour of stricter rules to combat money laundering and terrorist financing, and evading sanctions in the European Union (EU). Among the three significant pieces of anti-money laundering (AML) legislation adopted is draft legislation that strengthens EU rules on conducting due diligence on anonymised financial instruments, including transfers of crypto assets. 
The parliament will vote on it during its plenary session in April. The new rules would require entities, including banks, assets, and crypto assets managers, to verify their customers’ identity, what they own, and who controls the company. 
They would also have to establish detailed Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) supervision based on risk in their sector of activity and transmit the relevant information to a centralised beneficial owners’ register.




   



    
   


   








Verification of Crypto Asset Transfers
Under the new rules, crypto asset transfers will have to include information on their source and the beneficiary, much like traditional money transfers. Before making a crypto asset available to beneficiaries, providers such as crypto exchanges would have to verify that the source of the asset is not subject to restrictive measures and that there are no risks of money laundering or terrorism financing. 
The rules would not apply to person-to-person transfers or among exchanges and providers acting on their behalf, as per the previous crypto-asset regulation for AML that had already been voted on, the Markets in Crypto-Asset Regulations (MiCAR). MEPs want technological solutions to ensure that these asset transfers can be individually identified.
Prevention of Money Laundering and Terrorist Financing
The adopted texts require banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs to verify their customers’ identity, ownership, and company control. They will also have to establish detailed types of risk of money laundering and terrorist financing in their sector of activity and transmit the relevant information to a central register. 
MEPs want to cap payments that can be accepted by persons providing goods or services to restrict transactions in cash and crypto assets. They set limits of up to €7000 for cash payments and €1000 for crypto-asset transfers where the customer cannot be identified.
Access to Information
Following the latest European Court of Justice ruling, it was decided that persons with a legitimate interest, such as journalists, reporters, other media, civil society organisations, and higher education institutions, should be able to access the register, including the interconnected central registers of various EU members. 
Their access rights will be valid for at least two and a half years. Member states will automatically renew access but revoke or suspend it if abused. The legitimate interest should apply without discrimination based on nationality, country of residence, or establishment.
Removal of Minimum Thresholds and Exemptions
The MEPs also decided to remove minimum thresholds and exemptions for low-value transfers. The European Parliament wants the European Banking Authority (EBA) to set up a public register of crypto firms with a high risk of money laundering, terrorist financing, and other criminal activities, which the EBA says it is considering. This measure aims to prevent criminals from exploiting confidentiality rules that allow for secrecy and anonymity.
Restriction of Transactions in Cash and Crypto Assets
To restrict transactions in cash and crypto assets, MEPs want to cap payments that can be accepted by persons providing goods or services. They set limits to €7000 for cash payments and €1000 for crypto-asset transfers where the customer cannot be identified. 
Given the manifest risk of misuse by criminals, MEPs want to ban any EU citizenship by investment schemes (dubbed “golden passports“) and impose strong AML controls on the residence by investment schemes (“golden visas”).
AMLA to Ensure Consistent Enforcement
Under the adopted guidelines, the new European Anti-Money Laundering Authority (AMLA) would monitor risks and threats within and outside the EU and directly supervise specific credit and financial institutions, classifying them according to risk level. 
Initially, it would supervise 40 entities with the highest residual risk profile and present in at least two member states. To fulfill its duties, AMLA could mandate companies and people to hand over documents and other information, conduct on-site visits with judicial authorization, and impose sanctions of €500,000 to €2 million, or 0.5-1 percent of annual turnover, for material breaches.
For severe violations, AMLA could impose sanctions of up to 10 percent of the total annual turnover of the obliged entity in the preceding business year. In their position on the draft law, MEPs wish to extend the agency’s competence to drawing up lists of high-risk non-EU countries. 
Adopting stricter rules on money laundering and terrorist financing by the European Parliament is a significant step in closing existing gaps in combating these crimes in the EU. 
The new rules on crypto asset transfers will ensure that these transfers can be individually identified, closing the loophole that allowed for secrecy and anonymity.
]]></description><link>https://fintechnews.eu/eu-rules-on-crypto-assets-transfers-set-to-tighten</link><guid>3148</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>EU Rules on Crypto Assets Transfers Set to Tighten</dc:text></item><item><title>The Top 3 European Wealthtech Trends</title><description><![CDATA[By 2030, affluent clients with assets of EUR 100,000 and up will have access to a highly diversified range of alternative assets comprising private debt, venture capital (VC), real assets, and more. They will benefit from highly personalized financial plans and advice, enabled by automation technology and data analytics. Additionally, advanced digital platforms and features like portfolio aggregation will provide them with a more frictionless experience.
These are the three main trends outlined in Wealthtech Radar 2023, a paper produced by German wealthtech software provider Fincite. The paper, which draws on insights from more than 20 experts organizations such as InVenture Capital, the University of Munich, the Frankfurt School Blockchain Center, Sprengnetter Gruppe and Morningstar, shares more than 20 trends that are expected to emerge in the wealthtech industry over the next decade. These trends are grouped into three main categories: alternative assets, mass personalization and frictionless experiences.
Alternative assets
WealthTech Radar 2023, Fincite
Demand for alternative assets, investment diversification and higher yields are fueling efforts to provide the affluent and private banking segments with access to a broader set of asset classes and investment opportunities.




   



    
   


   








Digital platforms, as well as trends like asset tokenization and fractionalization, in particular, are helping expedite this by bringing VC, private debt and real assets to the masses.
Companies like Timeless Investments and Arttrade, for example, are making real assets like art, property, raw materials and gold, accessible to those with smaller asset portfolios. This is done by fractionalizing these assets into smaller pieces, thus allowing investors to purchase just a small percentage of these assets.
This concept is also being applied to project financing and private debt. Exporo, for example, allows property projects to be financed with a lower minimum investment, allowing private investors to invest in real estate debt starting at EUR 500. Peer-to-peer (P2P) lending platform Mintos, meanwhile, allows private investors to hold a stake in consumer goods loans, sometimes from as little as EUR 10.
Finally, cryptocurrencies and digital assets such as non-fungible tokens (NFTs) are another popular option for investors looking to diversify their portfolio. Interest in these assets has risen sharply over the past couple of years, and many investors now view crypto as a relevant asset component, the report notes.
Mass personalization
WealthTech Radar 2023, Fincite
Tailored consulting and asset management have long been considered “top-tier” investment services, available only to clients with assets worth several millions of euros or more. This is changing today as automation is making personalized investment strategies accessible to a wider target group, the report says.
Robo-advisors are a prominent example of this concept. Powered by artificial intelligence (AI), robo-advisors provide automated, algorithm-driven financial planning and investment services with little to no human supervision. Because robo-advisors rely on automation, these platforms are often inexpensive, require low opening balances and are able to provide personalized financial advice.
Ultimately, the next generation of financial advice will be much more reliant on technology, leveraging advanced digital platforms for their internal operations as well as to engage with their customers, the report says.
Hybrid advice, which combines human-assisted personal guidance on investment with a consumer-led automated service on a platform, is already a growing trend, facilitated by platforms such as Addepar or Fincite.CIOS, which are supporting advisors through digital processes and holistic reporting.
Another trend highlighted in the report and which is rapidly gaining pace is direct indexing. Direct indexing involves purchasing the underlying shares of an index, rather than owning an index mutual fund or index exchange-traded fund. By breaking down index funds into their smallest component components, the individual stocks, advisors can build a portfolio with single securities, enabling the cost of fund purchases to be lowered while at the same time offering a high level of personalization.
Environmental, social and governance (ESG) standards are another trend to watch out for, the report says, with many software providers and in-house developers of European providers now working on integrating ESG criteria into the valuation of shares and other investments.
Frictionless experience
WealthTech Radar 2023, Fincite
Finally, the last big trend outlined in the report is the move towards frictionless experiences. This trend will grow in prominence as clients and advisors become less and less tolerant of inefficient processes, poor functionality and unnecessary tasks, the report says.
Several features and capabilities will help wealth managers reach this goal, it says, including portfolio aggregation as well as integrated asset statements. These features will allow investors to get a centralized overview of all of their portfolios, including those held by third-party banks, it says.
Advisors will also rely more heavily on advanced software. These platforms will facilitate the entire value creation process involved in client interaction such as onboarding and profiling, in addition to proposal generation, reporting and ordering, it says.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/the-top-3-european-wealthtech-trends</link><guid>3146</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Alternative-Assets-1024x1004.jpg?x30842</dc:content ><dc:text>The Top 3 European Wealthtech Trends</dc:text></item><item><title>Radar: Top 3 European Wealthtech Trends</title><description><![CDATA[By 2030, affluent clients with assets of EUR 100,000 and up will have access to a highly diversified range of alternative assets comprising private debt, venture capital (VC), real assets, and more. They will benefit from highly personalized financial plans and advice, enabled by automation technology and data analytics. Additionally, advanced digital platforms and features like portfolio aggregation will provide them with a more frictionless experience.
These are the three main trends outlined in Wealthtech Radar 2023, a paper produced by German wealthtech software provider Fincite. The paper, which draws on insights from more than 20 experts organizations such as InVenture Capital, the University of Munich, the Frankfurt School Blockchain Center, Sprengnetter Gruppe and Morningstar, shares more than 20 trends that are expected to emerge in the wealthtech industry over the next decade. These trends are grouped into three main categories: alternative assets, mass personalization and frictionless experiences.
Alternative assets
WealthTech Radar 2023, Fincite
Demand for alternative assets, investment diversification and higher yields are fueling efforts to provide the affluent and private banking segments with access to a broader set of asset classes and investment opportunities.




   



    
   


   








Digital platforms, as well as trends like asset tokenization and fractionalization, in particular, are helping expedite this by bringing VC, private debt and real assets to the masses.
Companies like Timeless Investments and Arttrade, for example, are making real assets like art, property, raw materials and gold, accessible to those with smaller asset portfolios. This is done by fractionalizing these assets into smaller pieces, thus allowing investors to purchase just a small percentage of these assets.
This concept is also being applied to project financing and private debt. Exporo, for example, allows property projects to be financed with a lower minimum investment, allowing private investors to invest in real estate debt starting at EUR 500. Peer-to-peer (P2P) lending platform Mintos, meanwhile, allows private investors to hold a stake in consumer goods loans, sometimes from as little as EUR 10.
Finally, cryptocurrencies and digital assets such as non-fungible tokens (NFTs) are another popular option for investors looking to diversify their portfolio. Interest in these assets has risen sharply over the past couple of years, and many investors now view crypto as a relevant asset component, the report notes.
Mass personalization
WealthTech Radar 2023, Fincite
Tailored consulting and asset management have long been considered “top-tier” investment services, available only to clients with assets worth several millions of euros or more. This is changing today as automation is making personalized investment strategies accessible to a wider target group, the report says.
Robo-advisors are a prominent example of this concept. Powered by artificial intelligence (AI), robo-advisors provide automated, algorithm-driven financial planning and investment services with little to no human supervision. Because robo-advisors rely on automation, these platforms are often inexpensive, require low opening balances and are able to provide personalized financial advice.
Ultimately, the next generation of financial advice will be much more reliant on technology, leveraging advanced digital platforms for their internal operations as well as to engage with their customers, the report says.
Hybrid advice, which combines human-assisted personal guidance on investment with a consumer-led automated service on a platform, is already a growing trend, facilitated by platforms such as Addepar or Fincite.CIOS, which are supporting advisors through digital processes and holistic reporting.
Another trend highlighted in the report and which is rapidly gaining pace is direct indexing. Direct indexing involves purchasing the underlying shares of an index, rather than owning an index mutual fund or index exchange-traded fund. By breaking down index funds into their smallest component components, the individual stocks, advisors can build a portfolio with single securities, enabling the cost of fund purchases to be lowered while at the same time offering a high level of personalization.
Environmental, social and governance (ESG) standards are another trend to watch out for, the report says, with many software providers and in-house developers of European providers now working on integrating ESG criteria into the valuation of shares and other investments.
Frictionless experience
WealthTech Radar 2023, Fincite
Finally, the last big trend outlined in the report is the move towards frictionless experiences. This trend will grow in prominence as clients and advisors become less and less tolerant of inefficient processes, poor functionality and unnecessary tasks, the report says.
Several features and capabilities will help wealth managers reach this goal, it says, including portfolio aggregation as well as integrated asset statements. These features will allow investors to get a centralized overview of all of their portfolios, including those held by third-party banks, it says.
Advisors will also rely more heavily on advanced software. These platforms will facilitate the entire value creation process involved in client interaction such as onboarding and profiling, in addition to proposal generation, reporting and ordering, it says.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/radar-top-3-european-wealthtech-trends</link><guid>3147</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/Alternative-Assets-1024x1004.jpg?x30842</dc:content ><dc:text>Radar: Top 3 European Wealthtech Trends</dc:text></item><item><title>Swiss-UK Private Bank Digital Finance Startup Kashet Raises CHF 6.2M Series A</title><description><![CDATA[Kashet, the Swiss-UK premium digital finance services firm, has successfully raised CHF 6.2m funding to support its expansion and readiness for further growth. Kashet is focused on delivering a membership-based financial solution app for customers and private bank clients.
The Round A funding is in progress with the launch to follow later this year

Kashet has been operating in stealth mode, quietly building a Financial Conduct Authority (FCA) licensed business, joining MasterCard, and receiving strategic investment including that from Trifork Labs, the Copenhagen technology accelerator
Kashet has already obtained FCA licenses in the UK, including E-Money, AISP, and PISP licenses. The company intends to submit applications for UK FCA 5MLD registration and a Swiss Fintech License with Switzerland’s Regulatory Authority FINMA





   



    
   


   








Kashet is creating a service-oriented solution for clients in the UK, Switzerland, and across Europe. It is led by banking, technology, and service industry experts, including heavyweights Alex Wilmot-Sitwell from Bank of America and UBS, and Andrew Brookes of Bank of England, as well as international executives, Gary Steel and Jacob Waehrens.
Kashet will service the financial complexity of customers’ international life, and provide a complete set of cards, foreign exchange, domestic and international payments, and access to digital currencies under Swiss law. Kashets’ focus is on creating efficient services that people trust and love to use, as well as partnering with private banks across Europe that need access to digital technology solutions.
Trifork Labs, the Copenhagen technology accelerator, which has participated in the funding, holds a successful track record with innovative companies, including Chainanalysis, which was valued at $8.9b in 2022.
Chris Jones
Kashet’s co-founder and Joint CEO, Chris Jones, highlighted the company’s driving ethos,
“We are thinking beyond banking and focused on creating exceptional financial services that people trust and love to use. We intend to provide personalized experiences for clients. The company plans to partner with private banks across Europe that need access to ground breaking technology solutions.”
With its strong governance model and deep international perspective, Kashet is well-positioned to make a significant impact in the UK and European Fintech markets and is a company to watch in the coming months.

Featured image credit: Chris Jones, Kashet’s co-founder and Joint CEO
]]></description><link>https://fintechnews.eu/swiss-uk-private-bank-digital-finance-startup-kashet-raises-chf-62m-series-a</link><guid>3145</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Swiss-UK Private Bank Digital Finance Startup Kashet Raises CHF 6.2M Series A</dc:text></item><item><title>Incore Bank Signs Maerki Baumann as First Client For SDX Ethereum Staking</title><description><![CDATA[InCore Bank can now offer Ethereum staking capabilities that are fully compliant with Know-Your-Client (KYC) and Anti-Money-Laundering (AML) regulations to their clients.
In this collaboration, InCore Bank provides crypto brokerage, banking operations and custody services, while SDX Web3 provides crypto custody and non-custodial-staking services.
The Zurich-based private bank Maerki Baumann launched its crypto strategy in 2019. Apart from corporate accounts for companies focusing on blockchain technology and crypto applications, it offers services in crypto trading and custody in collaboration with InCore Bank. Maerki Baumann will continue to expand its crypto offering by making the new Ethereum staking services available to its private and corporate tech banking clients.




   



    
   


   








Mark Dambacher
Mark Dambacher, CEO InCore Bank, stated,
«We perceive an increasing interest in staking and ways to participate in the decentralized economy. InCore Bank’s fully integrated and future-oriented staking services via segregated wallets, enable us to offer staking to our clients within a convenient, secure, regulated and tax compliant setting. We are proud to be part of this strategic alliance with SDX».
David Newns
David Newns, Head of SDX, adds,
«This collaboration between established digital asset institutions is the first of its kind in Switzerland. We are strengthening the Swiss digital asset ecosystem by enabling key market players to provide value adding capabilities like Ethereum custody and staking that their clients are asking for».
What is staking?
Blockchain networks are based on the principle of decentralisation, there is no central entity that decides on the correct transaction history. Nevertheless, a consensus mechanism is needed to ensure in a decentralized pattern that transactions are validated in correct order and in a secure manner. Blockchains typically reach consensus in two ways, either by so-called Proof-of-Work (PoW) or Proof-of-Stake (PoS) mechanisms.
In PoS blockchains like Ethereum, to guarantee consensus, no power-intensive computing power is used. Rather, capital needs to be expended in the form of the blockchain’s own coin. These coins must be «staked», i.e. made available to the network and bound by it for the staking period. For individuals who hold digital assets of proof-of-stake networks, staking is mandatory in order to avoid dilution of their own position. Due to this fact, it can be assumed that in the near future, there will be an increasing merger of custody and staking.
Staking is an umbrella term used to denote the act of pledging crypto-assets to a cryptocurrency protocol to earn rewards in exchange. Staking allows users to participate in securing the network by locking up tokens. The «stakers» become validators who add new transactions to the respective blockchain. At the same time, the validators follow the so-called consensus rules. These set the rules of the game according to which the various network participants have to comply. If, as a validator, you violate the network’s consensus rules during this process, you put your own capital at risk in the form of the coins you have staked. This ensures validators have an incentive to abide by the rules.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/incore-bank-signs-maerki-baumann-as-first-client-for-sdx-ethereum-staking</link><guid>3144</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Incore Bank Signs Maerki Baumann as First Client For SDX Ethereum Staking</dc:text></item><item><title>Postfinance Partners With Sygnum Bank to Offer Cryptocurrencies</title><description><![CDATA[PostFinance partners with Sygnum, the world’s first digital asset bank, to offer its customers a range of regulated digital asset banking services via Sygnum’s B2B banking platform.

PostFinance’s partnership with Sygnum Bank enables the launch and ongoing expansion of regulated, bank-grade digital asset products and services for its customers
PostFinance’s customers will be able to buy, store and sell leading cryptocurrencies such as Bitcoin and Ethereum
Sygnum’s B2B offering empowers partner banks with a fast, cost-efficient market entry with innovative, regulated and compliant products

PostFinance has analyzed its customers’ investment needs and uncovered a strong demand for digital investment services. By leveraging Sygnum’s B2B banking platform, PostFinance will seamlessly integrate this new offering into its existing infrastructure from the outset.




   



    
   


   








Sygnum’s fully regulated B2B banking platform enables PostFinance to provide flexible and efficient access to a range of cryptocurrencies, as well as introducing new revenue-generating services on an ongoing basis, such as staking. Being a fully regulated digital asset specialist with a Swiss banking license, Sygnum is one of the few banks in the world that can provide a secure bridge between traditional finance and digital assets.
Philipp Merkt
Philipp Merkt, Chief Investment Officer of PostFinance, says
“Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.”
Fritz Jost
Fritz Jost, Chief B2B Officer, Sygnum Bank, adds
“Our all-in-one B2B banking platform enables our fifteen-plus B2B partner banks to expand their range of regulated digital asset services at scale and speed. We are pleased to empower PostFinance to deliver institutional-grade digital asset services to their customers. We are committed to continuously drive further innovation and positive change for the industry and our partner banks’ customers.”


Featured image credit: Philipp Merkt, Chief Investment Officer of PostFinance and Fritz Jost, Chief B2B Officer, Sygnum Bank
]]></description><link>https://fintechnews.eu/postfinance-partners-with-sygnum-bank-to-offer-cryptocurrencies</link><guid>3143</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Postfinance Partners With Sygnum Bank to Offer Cryptocurrencies</dc:text></item><item><title>Bitpanda and Mambu Partner to Offer Simplified Investment Options</title><description><![CDATA[Austria-based Bitpanda Technology Solutions has partnered with SaaS (Software-as-a-Service) cloud banking platform Mambu to provide financial institutions with a secure way to offer investment options to customers. With Bitpanda’s domain expertise and Mambu’s core banking technology, banks can integrate investment solutions into their existing offerings, unlocking powerful new revenue streams and saving the time and resources required to build investment infrastructure from scratch.
More and more of European investors have already added digital assets to their investment portfolio, a trend that highlights the revenue potential for banks and fintechs that enable an in-app trading offer. Allowing customers to manage their investments from within their trusted banking platform will increase investor confidence, and allow more Europeans to take control of their finances. With this partnership, hundreds of banks and financial institutions across Europe will now be able to enhance their banking experiences.
Through the partnership, Mambu’s core infrastructure will act as the ledger across Bitpanda’s full range of asset classes, including stocks and ETFs, crypto, precious metals and commodities, all available in a fractionated manner. Joint customers also enjoy additional investment functionalities, including custody of assets, savings plans, staking and asset-to-asset swaps.




   



    
   


   








Lukas Enzersdorfer-Konrad
Lukas Enzerdorfer-Konrad, CEO of Bitpanda Technology Solutions said:
“Financial institutions today have to ask themselves how they aim to cater to the increasing demand for modern investing solutions. Building these individually means a high startup cost and products that are often outdated before they are even launched. Simply put, institutions can’t do this themselves if they want both a fast time to market and high compliance standards. By partnering with us, they can open up new revenue streams while retaining their customers. Fully customisable, fully safe, fully secure, and fully regulated. Your design, our technology.”
Scott Wilson
Scott Wilson, Regional VP EMEA at Mambu said:
“Mambu offers a full suite of APIs that connect our cloud banking platform with third-party solutions. By partnering with Bitpanda Technology Solutions, joint customers can weave investment capabilities into the banking experience they provide. We share a common vision of enabling modern financial experiences through a composable banking framework, all underpinned by cloud technology. The agility and flexibility this proposition with Bitpanda provides is unmatched and a true game changer to legacy solutions on the market.”
Shared customers include N26, the European mobile bank, which leverages Bitpanda’s API-driven infrastructure as well as Mambu’s cloud banking platform.
]]></description><link>https://fintechnews.eu/bitpanda-and-mambu-partner-to-offer-simplified-investment-options</link><guid>3141</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Bitpanda and Mambu Partner to Offer Simplified Investment Options</dc:text></item><item><title>Securing Wealth in Changing Times</title><description><![CDATA[Fifteen years after the financial crisis, banks are again experiencing a crisis of confidence that has caused stock prices to fluctuate wildly and destroyed Credit Suisse. But that is not the only problem – sovereign debt continues to rise and inflation remains stubbornly high. New solutions for long-term wealth preservation are needed now. Are real estate, equities, or gold the right solutions to protect against crises and maintain purchasing power?
Your money continues to lose value because inflation is higher than the interest on your savings account. But how can you protect your assets from crises and maintain purchasing power at the same time?
Not an easy question – the current financial situation is a challenge for many. Especially risk-averse investors often make expensive mistakes because they often leave large amounts in their savings accounts.
Don’t be fooled by banks
In Switzerland, inflation was hardly noticeable for many years. Especially because of energy prices and increased transport costs, we now see values around 3% here as well. That’s why you should be concerned with it now. The banks are paying modest interest again, but you are still losing money if you just leave it in your account. Your savings lose purchasing power in real terms because inflation is much higher than the bank interest rate. Our inflation calculator shows what this can add up to over the years. You will be surprised by the results.
Crisis resistance and inflation protection
In the past, real estate was very popular as a protection against inflation, but prices have risen excessively in recent years. Institutional and large investors have therefore already started to sell high-yielding properties. Because mortgage rates are rising again and thus demand for private residential property is declining, more and more experts are warning of a significant correction in real estate prices. We therefore recommend a more diversified and actively managed strategy with a variety of real assets.
RealUnit is a modern solution for investments with real assets. Our primary objectives are: maintaining purchasing power and protecting assets in crisis situations. Particular emphasis is placed on investments in physical gold, silver, and industrial metals. Furthermore, shares in mainly Swiss companies with a solid balance sheet, sustainable earnings and a crisis-resistant business model ensure a high degree of stability in the portfolio. The asset allocation is actively managed according to the market situation. This increases crisis resistance and the ability to protect assets in the best possible way.
Securing wealth in changing timesThe most important goals of the RealUnit are simple: to protect the invested capital as best as possible against inflation and to preserve its value in the long term, especially in times of crisis. The classic bearer share is purchased on the BX Swiss or can be traded as a tokenised registered share on the website. RealUnit brings more stability to your portfolio. For more information, visit www.realunit.ch.
Reasonable returns
Stability is more important than speculation! The RealUnit therefore strives for wealth preservation and a return that is in line with the real economy. The average performance of 2.6% p.a. is slightly above Switzerland’s gross domestic product and thus confirms that the strategy in the past has delivered what it promises.
A decent result in 2022
Asset protection last year meant minimising losses. 2022 was one of the worst years in stock market history. Many asset classes or mixed funds suffered losses of over -15%. With -4.2%, RealUnit Schweiz AG achieved a relatively decent result despite the most adverse circumstances. The strategy of defensive investments and a very large allocation to real assets proved its value. The overweight in precious metals, the selection of very solid stocks and the tactical hedging with options helped to limit the losses. In addition, the company form gives us more flexibility compared to investment funds, which we used to hold larger liquidity positions at times.
Attractive alternative to bank investments
A peculiarity of investing in RealUnit Schweiz AG is that you automatically become a shareholder of the investment company and have a right of co-determination by participating in the general meeting. You participate indirectly in the real assets, which play a major role at RealUnit, because at least half of the investments (mostly physical gold and silver) are stored in secure bunkers in Switzerland and thus outside the banking system.

As an additional special feature, investors can choose between a classic bearer share and a digital share token on the blockchain with equal rights. You do not need a bank to store and trade the token. Therefore, you always have direct access and complete financial sovereignty.
Real assets: a worthwhile investment
When times change, you should also rethink your financial habits. On realunit.ch you will find important reasons why an actively managed strategy focusing on real values can provide the best possible protection for your assets against inflation and loss of value in the long term. And please sign up for the newsletter.

Disclaimer: This is an article written by RealUnit, Fintechnews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Fintechnews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Please note this is no investment advice.
]]></description><link>https://fintechnews.eu/securing-wealth-in-changing-times</link><guid>3142</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/04/RealUnit-Token-1.png?x30842</dc:content ><dc:text>Securing Wealth in Changing Times</dc:text></item><item><title>VP Bank Partners with Metaco on Digital Asset Custody</title><description><![CDATA[Metaco, a Switzerland-based provider of digital asset technology infrastructure to regulated financial institutions, has partnered with VP Bank in Liechtenstein.
The collaboration leverages Metaco’s flagship platform, Harmonize, to allow VP Bank the optionality to expand its digital asset custody and tokenization services beyond art and physical collector items, such as being able to support tokenized financial assets or minting, burning and storage of tokens.
VP Bank has selected Metaco as its preferred digital asset custody and orchestration technology partner, uniquely meeting the bank’s stringent requirements for institutional-grade key management and smart contract governance capabilities, as it seeks to expand its tokenization of digital and real-world assets in a highly scalable and secure manner, while remaining fully compliant with the regulations of the Token and Trusted Technology Service Provider Act (TVTG).




   



    
   


   








After a successful five-month modernization project, VP Bank now consumes Metaco Harmonize as a managed service, fully integrated into the bank’s core banking system.
Marcel Fleisch
Marcel Fleisch, Chief Product Officer at VP Bank commented:
“At VP Bank, we are committed to rethink wealth management by combining traditional banking with digital ecosystems to create whole new services and opportunities for our clients. By partnering with Metaco to offer a secure and scalable platform to tokenize and custody all types of financial, digital and real-world assets, we take a new major step towards building VP Bank’s foundation of the future.”
Seamus Donoghue, Chief Growth Officer at Metaco added:
“We are proud that VP Bank, one of the largest banks in Liechtenstein and a future oriented bank for private clients and intermediaries, is now relying on Metaco Harmonize to scale its digital asset custody and tokenization services. The bank-grade orchestration capabilities of the Harmonize platform enables the secure management of a range of digital asset use cases, allowing banks and financial institutions to satisfy demand for new asset classes and expand their business model in any direction.”
]]></description><link>https://fintechnews.eu/vp-bank-partners-with-metaco-on-digital-asset-custody</link><guid>3140</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>VP Bank Partners with Metaco on Digital Asset Custody</dc:text></item><item><title>UBS Completes Cross-Border Intraday Trade On Broadridge’s Blockchain-Powered Platform</title><description><![CDATA[Global financial technology company Broadridge Financial Solutions announced that UBS and a global Asian bank have successfully executed a cross-border intraday repo transaction on its blockchain-enabled platform.
This intraday trade marks the launch of the next phase in the rollout of Broadridge’s Distributed Ledger Repo (DLR) platform.
This platform provides a utility where market participants can agree, execute, and settle repo transactions, providing flexible settlement cycles based on counterparts’ needs.




   



    
   


   








The DLT Repo platform significantly increases settlement velocity and collateral mobility, thus making intraday possible. The platform also reduces the operating cost and risk of all repo activity, including well as overnight and term repos.
Beatriz Martin
“Intraday repo is a valuable tool to manage our liquidity usage and provides flexibility in our funding capabilities with reduced operational risk.

This accomplishment builds on the foundation we have established as an early adopter of the Distributed Ledger platform.”
said Beatriz Martin, UBS Group Treasurer.
Horacio Barakat
“This is the next step in executing on our vision of transforming global repo market infrastructure.

We are empowering leading financial institutions like UBS with the ability to dramatically lower risk and operating costs and see enhanced liquidity.”
said Horacio Barakat, Head of Digital Innovation at Broadridge.


Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/ubs-completes-cross-border-intraday-trade-on-broadridges-blockchain-powered-platform</link><guid>3139</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>UBS Completes Cross-Border Intraday Trade On Broadridge’s Blockchain-Powered Platform</dc:text></item><item><title>Bloomberg Unveils Finance-Focused Generative AI Model</title><description><![CDATA[Media conglomerate, finance information company and business software developer Bloomberg is building a generative artificial intelligence (AI) model for the finance industry, following on the heels of technology companies including Microsoft, Google and Salesforce that have recently kickstarted their own generative AI projects.
Generative AI is a category of AI algorithms that are capable of generating new and realistic content including text, images and audio, based on the data they have been trained on. These models, which are able to carry on sophisticated conversations with users, accurately answer questions and complete a wide range of tasks, including creating software and formulating business ideas, have risen to popularity over the past months after OpenAI’s AI chatbot ChatGPT went viral.
Freshly unveiled BloombergGPT is 50-billion-parameter generative AI model that’s been trained on a wide range of financial data to support tasks within the financial industry.




   



    
   


   








Bloomberg said it plans for its new model to assist it in improving existing natural language processing (NPL) tasks, including sentiment analysis, named entity recognition, news classification, and question answering, among others.
It also envisions BloombergGPT as a new capability and value-added feature in its product offering. The model would bring about new opportunities in making use of the vast quantities of data available on the Bloomberg Terminal to “better help the firm’s customers”, Bloomberg said in a statement, hinting at potential integration into Bloomberg systems.
Outperforming existing models
A research paper released on March 30, 2023 and which details the development of BloombergGPT, shares results of early testing of the model, noting that BloombergGPT, which has been trained on both finance-specific and general data sources, was able to outperform similarly-sized open models on financial NPL tasks “by a large margin” while performing strongly on general NPL benchmarks.
Performance of BloombergGPT in finance-specific and general-purpose NLP tasks compared with other models, Source: Bloomberg, March 2023
BloombergGPT is the first model to be trained on both domain-specific and general data sources, the paper says. Bloomberg supports a very large and diverse set of tasks, which are served by a general model, it says. At the same time, the vast majority of its applications are within the financial domain, better served by a specific model.
For that reason, the company opted for a mixed approach, which it said is better suited for its product offering and which, down the line, will allow Bloomberg to tackle many new types of applications as well as deliver much higher performance out-of-the-box than custom models, and in a faster time-to-market fashion.
The AI chatbot frenzy
Generative AI has been a hot topic in the tech sector ever since OpenAI’s ChatGPT went viral on November 30, 2022.
The AI chatbot, which has been praised for its versatility, intelligence, and ability to engage in human-like conversations, surpassed one million users in just five days, and in January, it surged past the 100 million monthly active users mark, becoming the fastest-growing consumer app in history, according to analysts at Swiss bank UBS.
The rise of ChatGPT has sparked a frenzy in the tech community and prompted most industry leaders to ramp up AI development.
In January, Microsoft invested a staggering US$10 billion in ChatGPT creator OpenAI, a deal that marked the third phase of the partnership between the two companies and which followed previous investments from the tech giant in 2019 and 2021.
The capital infusion was followed shortly after by the announcement that Microsoft’s Bing search engine and Edge web browser will be enhanced with AI chatbots.
Most recently, news broke that Google had invested almost US$400 million in Anthropic, an AI company that’s testing a rival to ChatGPT called Claude.
Google has been working on Bard, a conversational AI service that’s powered by the firm’s Language Model for Dialogue Applications (LaMDA) and which uses information found on the web to formulate responses.
Google recently opened up access to Bard, allowing users to join a waitlist to test out the feature. The company said it will start rolling out the tool in the US and the UK, and plans to expand it to more countries and languages in the future. It is also looking to bring AI to its productivity tools, including Gmail, Sheets and Docs.
AI funding surges
Rapid advancement in AI and booming adoption of related technologies have captured the attention of venture capital (VC) investors globally.
In 2022, AI and machine learning (ML) startups raised US$78 billion in VC funding, data from VC research firm Pitchbook show. The sum represents a 35% decline compared with 2021 but still exceeds 2020’s total, showcasing that AI and ML proved resilient despite the global funding downturn.
AI and ML VC deal activity, Source: Q4 2022 Artificial Intelligence and Machine Learning Report, Pitchbook, March 2023
Although AI and ML funding declined last year, generative AI startup VC investment continued their upward trend, reaching a new record of US$1.37 billion in 2022, according to Pitchbook data. The amount represents a 20% increase compared with 2021’s US$1.14 billion, and a nearly 500% increase compared with 2020’s US$230 million.
Generative AI funding rounds, Source: Pitchbook, Dec 2022
Last month, Salesforce announced a US$250 million fund for investing in generative AI startups, unveiling at the same time new investments into Cohere, a Canadian startup that specializes in large language models; Hearth.AI, an AI platform intended to provide semantic network search; You.com, a search engine that summarizes web results using website categories; and Anthropic.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/bloomberg-unveils-finance-focused-generative-ai-model</link><guid>3138</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Bloomberg Unveils Finance-Focused Generative AI Model</dc:text></item><item><title>Crypto Exchange Kraken Becomes Official Sponsor of Williams Racing F1 Team</title><description><![CDATA[Williams Racing, a British Formula One team and constructor, announced that global crypto exchange Kraken has inked a deal to become its first official crypto and Web3.0 partner.
The Kraken branding will adorn the FW45 halo and rear wing for the remainder of the 2023 FIA Formula One World Championship season, as well as the drivers’ race suits and team caps.
The rear wing will showcase KrakenNFT customer-owned digital collectibles artwork from third party NFT projects at select Grands Prix. Williams and Kraken will also collaborate on the design of limited-edition caps for select Grands Prix.




   



    
   


   








Kraken will also participate at selected Williams Racing fanzone initiatives throughout the season, with pop-up experiences in cities throughout the calendar.
Additionally, Kraken will also produce content and experiences to educate and engage fans about crypto and Web3.
Founded in 2011, Kraken is a digital asset platform with over 10 million clients worldwide trading more than 200 crypto assets and six fiat currencies available through its mobile app and trading platform.
James Bower
James Bower, Commercial Director, Williams Racing said,
“We are proud that Kraken is entering Formula 1 with Williams Racing, bringing together two of the most trusted and longest standing brands in our respective industries.

We’re excited to get the partnership underway to offer our fans cutting-edge crypto and Web3 experiences, while also enabling Kraken to reach new institutional clients and businesses through our network and events.”
Mayur Gupta
Mayur Gupta, Kraken’s Chief Marketing Officer added,
“Kraken’s partnership with Williams Racing shows what is possible when you combine a great mission with excellence, innovation and breakthrough performance.

These are both iconic brands that have stood the test of time. We’re excited to engage with both Kraken’s and Williams Racing’s global communities, showcasing the power and life-changing impact of crypto and Web3.”

]]></description><link>https://fintechnews.eu/crypto-exchange-kraken-becomes-official-sponsor-of-williams-racing-f1-team</link><guid>3137</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Crypto Exchange Kraken Becomes Official Sponsor of Williams Racing F1 Team</dc:text></item><item><title>Finfluencers Come Under Regulatory Scrutiny</title><description><![CDATA[Financial influencers, also referred to as finfluencers, are a booming phenomenon on social media platforms and a growing concern for financial regulators. Around the world, governments are mulling on ways to create a regulatory framework for online personalities promoting risky, and sometimes fraudulent, investments to often inexperienced consumers.
In the UK, fraudulent and misleading financial promotions are becoming rampant. In 2022, the Financial Conduct Authority (FCA) asked firms to amend or remove more than 8,500 promotions, or 14 times more than the year prior, the markets watchdog said in February 2023.
The FCA said it has already acted against several finfluencers and that these personalities will be facing more pressure in 2023. The regulator added that it was consulting on introducing tougher checks for firms that want to approve financial promotions to help crackdown on ads from unauthorized firms and individuals.




   



    
   


   








Sarah Pritchard
“The FCA has worked closely with several big tech companies to change their advertising policies to only allow financial promotions that have been approved by FCA-authorized firms, but more needs to be done by tech companies to protect consumers,”
Sarah Pritchard, the FCA’s executive director of markets, said in a statement.
“This year, we will continue to put the pressure on people using social media to illegally promote investments, which put people’s hard-earned money at risk.”
In Australia, the government is cracking down on content creators who offer financial advice without a federally-issued license. In an information sheet released in March 2022, the Australian Securities and Investments Commission warned that influencers who provide unlicensed financial services can be penalized with hefty fines and face up to five years in prison.
And in the European Union (EU), the financial markets regulator and supervisor, the European Securities and Markets Authority (ESMA), launched in January 2023 a common supervisory action to look at marketing practices of firms and how they target audiences through online distribution channels, including apps, social media and collaborations with affiliates such as influencers.
The rise of finfluencers
image via freepik
Finfluencers are social media personalities providing financial advice and advertising financial products on popular platforms such as TikTok, Twitter, Instagram and Facebook.
The content of their posts and videos can offer advice, education and discussion about financial topics, covering a broad range of themes from personal finance, financial freedom and investment strategies, to crypto-asset investing and product reviews of new fintech products. Some finfluencers also share their own experiences, such as gains and losses in the stock market, in addition to personal tricks to save and earn money.
Finfluencers often work with regulated and unregulated fintech companies in paid collaborations. These partnerships can generate some substantial income. Austin Hankwitz, a 27-year-old TikToker from America, makes more than US$500,000 on the platform annually. On TikTok, the most popular finfluencers can make up to US$7,000 per sponsored post, according to a 2022 study conducted by derivative trading provider CMC Markets.
With a significant following on social media and a high level of influence, finfluencers are increasingly coming under the scrutiny of regulators. This is due mainly to the potential risks associated with providing inappropriate financial information to a wide audience on social media platforms, and the impact of that content on the financial well-being of their followers.
In the traditional financial services space, areas of concerns including the fitness of the person providing advice, the factuality of the information provided, as well as the level and understanding of financial literacy, risk appetite, and risk tolerance of the viewers, are addressed through laws and regulations. Legislations including consumer protection laws and corporate laws mandate that financial advisory activities must be conducted by licensed parties and under the supervision of financial regulators.
However, many finfluencers are not licensed financial advisors, and some might not even know that these laws and requirements apply to them.
Regulatory requirements for finfluencers in the EU and Switzerland
In a new report released earlier this month, consultancy EY outlines the regulatory framework for finfluencers and financial institutions promoting products on social media under Swiss and EU laws.
In the EU, ESMA issued in 2021 a public statement on investment recommendations on social media, reminding that these must follow the EU Market Abuse Regulation, the report notes.
Advice should be made in a specific and transparent manner so that investors understand and are able to assess the credibility of the recommendation and its objectivity, as well as any interest of those making the recommendations, it explains. It adds that the regulation is also applicable to crypto-assets if such assets are classified as financial instrument in accordance with the Markets in Financial Instruments Directive.
In Switzerland, content on financial products and services, as well as financial tips may trigger specific regulatory requirements, EY says. For example, if a finfluencer promotes a financial product that qualifies as financial instrument as defined by the Swiss Financial Services Act, this may be considered “advertising” or “offering”, triggering licensing obligations. The same goes for a financial tip that falls under the legal definition of an “investment advice”, it says.
Advertising for a financial instrument must be clearly recognized as such, and the ad must refer to the Key Information Document (KID), which must be drawn up by the producer of the financial instrument, in addition to the prospectus for the financial instrument.
As for investment advice, advisors are subject to certain rules, including information and disclosure duties, professional knowledge, entry in the register of advisors, and affiliation with the ombudsman’s office, the firm says.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/finfluencers-come-under-regulatory-scrutiny</link><guid>3136</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Finfluencers Come Under Regulatory Scrutiny</dc:text></item><item><title>With SIC5 Around the Corner, Experts Weigh in on Possible Impact of Instant Payments in Switzerland</title><description><![CDATA[Instant payments are scheduled for rollout in Switzerland in the summer 2024, opening up new opportunities in payment transactions, digital commerce and customer experiences. But the new standard will also put pressure on banks’ lucrative card businesses and will cost financial institutions a stiff amount in implementation, industry experts warn.
Starting August 2024, all banks operating in Switzerland and processing over 500,000 payments per year will be required to implement the new standard and be able to receive instant payments, the Swiss National Bank (SNB) has mandated. In an initial phase, these real-time transfers will be capped at CHF 20,000.
The second phase will require all participants in the Swiss Interbank Clearing (SIC) network to be able to receive and execute real-time transfers by the end of 2026.




   



    
   


   








In addition to priority introduction at banks, instant payments will also be implemented as an account-to-account (A2A) payment method in retail, as well as e-commerce.
For customers, the new system means immediate processing and settlement of payments around the clock, every day of the week. SIC, the Swiss infrastructure provider of payment services, has set a time-limit of 10 seconds on end-to-end payments processing.
This will represent a significant improvement from Switzerland’s current interbank payment system where money transferred can take several days before arriving in the recipient’s account.
Impact of real-time payments in Switzerland
Already, industry experts and observers are speculating on the possible impact of the introduction of real-time payments in Switzerland.
According to Alain Schmid, head of business banking at Credit Suisse, most fintech solutions today rely heavily on card technology, which comes with fees for merchants. The introduction of instant payments could put pressure on these fees.
Echoing Schmid, David Frei, Deloitte Switzerland’s payments lead and a director in the business operations consulting in Zurich, told Finews.com in a statement that he expects transaction costs for retail merchants to drop by factors thanks to real-time payments.
Over the medium term, Frei believes that the card business, which has been highly profitable for some banks, will reach an inflection point. If instant payments and A2A transactions prove popular among consumers, the fee income resulting from card transactions for banks will ultimately decrease, he said.
But it’s not all doom and gloom for banking incumbents. Sergio Cruz, the lead partner of Deloitte’s business operations practice in Zurich, wrote in a 2022 blog post that savings are expected from reduced operating costs due to the enhanced automation of payment processes.
He added that instant payments will also provide opportunities for banks to tap into customer data gathered from these to understand their customers’ behavior through data analytics of anonymized aggregated data.
In the broader market, Cruz is confident that the introduction of the new system will impact the types of fintech solutions offered in the market, encouraging fintech companies to build A2A payment offerings and possibly enabling the creation of new, innovative digital banking solutions.
Ultimately, instant payments will help improve customer experience, he claims, enhancing the usability of online banking solutions, enabling new offerings and optimizing costs.
But still, the adaptation of the infrastructure and processes to comply with the new instant payment requirements will require numerous changes that will affect banks. First, the implementation will lead to up-front costs.
To provide an idea of what that cost might be, Frei said that the changeover to the previous payment standard, SIC4, as well as the new payment slip with QR code, which was completed in 2022, costed banks an estimated CHF 600 million. He projects high costs for the change to the new system, SIC5, as well as, in addition to the associated introduction of real-time payments. “Considerable expense for the banking is to be expected,” he told Finews.com.
Switzerland lags behind international counterparts
Real-time payments are just one of the many new or improved functionalities part of the next and fifth generation of the Swiss central bank payment system. The new system, also referred to as SIC5, will introduce capabilities, such as a new settlement algorithm and higher processing performance.
The SNB, which helped launched the SIC5 project back in 2020, has said that the initiative was a testament of the central bank’s commitment to ensuring that “the cashless payment system in Switzerland remains efficient, secure and ‘future-proof’.”
The planned rollout of real-time payments in Switzerland starting next year makes the country a laggard compared to some of its international peers.
Singapore, for example, launched its FAST infrastructure back in 2014, enabling participating banks as well as non-financial institutions to link into a transfer network that enables real-time payments 24/7 365 days a year across the country.
India introduced its Unified Payments Interface (UPI) system in 2016, allowing consumers to make interbank peer-to-peer (P2P) and person-to-merchant (P2M) transactions seamlessly.
The Philippines launched its InstaPay electronic fund transfer service in 2018, while Vietnam has had its real-time payments infrastructure since 2020.
According to Fidelity National Information Services (FIS Global), an American multinational corporation which offers financial products and services, only 17 countries were live with real-time payments in 2014. As of 2022, up to 72% of the world had a live real-time payment infrastructure or was planning to launch one soon.
Global real-time payment adoption, Source: Thunes, 2022
To take a deep dive into this topic about SIC5, Fintech News Switzerland will be organizing a webinar featuring speakers from SIX, Yapeal Bank and Bottomline as they highlight the new banking trends and initiatives for 2023, the best strategy for digital payments transformation in Switzerland and how banks can develop new offerings for cross-border &amp; domestic payments. Register here to gain more insights.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/with-sic5-around-the-corner-experts-weigh-in-on-possible-impact-of-instant-payments-in-switzerland</link><guid>3135</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>With SIC5 Around the Corner, Experts Weigh in on Possible Impact of Instant Payments in Switzerland</dc:text></item><item><title>Apple Rolls Out Its Pay Later Offering for Selected Users</title><description><![CDATA[Apple has rolled out its Buy Now, Pay Later offering in the U.S., allowing users to split purchases into four payments, spread over six weeks with no interest and no fees.
Users can apply for Apple Pay Later loans of US$50 to US$1,000, which can be used for online and in-app purchases made on iPhone and iPad with merchants that accept Apple Pay.
A soft credit pull will be done during the application process to help ensure that the user is in a good financial position before taking on the loan.




   



    
   


   








Users will be able to easily track, manage, and repay their Apple Pay Later loans in the Apple Wallet.
Apple will invite select users to access a pre-released version of Apple Pay Later, with plans to offer it to all eligible users in the coming months.
Jennifer Bailey
“There’s no one-size-fits-all approach when it comes to how people manage their finances. Many people are looking for flexible payment options, which is why we’re excited to provide our users with Apple Pay Later,”
said Jennifer Bailey, Vice President of Apple Pay and Apple Wallet.
“Apple Pay Later was designed with our users’ financial health in mind, so it has no fees and no interest, and can be used and managed within Wallet, making it easier for consumers to make informed and responsible borrowing decisions.”

This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/apple-rolls-out-its-pay-later-offering-for-selected-users</link><guid>3133</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Apple Rolls Out Its Pay Later Offering for Selected Users</dc:text></item><item><title>Tenity Ropes in SIX, UBS, Julius Baer, Generali for First Close of Its Fintech Fund</title><description><![CDATA[Tenity, a Swiss fintech accelerator formerly known as F10, announced the first closing of its Tenity Incubation Fund I with investments from SIX Group, UBS’ strategic venture and innovation unit UBS Next, Julius Baer, and Generali’s House of Insurtech Switzerland. Details of the fund was not disclosed.
Led by CIO Maximilian Spelmeyer, Tenity’s investment team looks to build a portfolio of around 400 companies across Switzerland, Western Europe and Asia Pacific.
The Tenity Incubation Fund I will invest in fintech and insurtech companies at angel, pre-seed and seed stage, emerging from the Tenity Flagship Incubation programmes across its hubs in Europe and Asia.




   



    
   


   








The fund targets to be the first institutional investor in a startup, supplying the team with funding, hands-on support and network throughout the four-month Tenity incubation programme.
Tenity is particularly interested in founders who are at the idea or product development stage but is pre-market and have not raised yet or only a small family round.
The Tenity startup programmes have supported more than 250 startups to date including Swiss spend management automation company Yokoy, Brussels-based digital asset market maker Keyrock, alternative investment platform Stableton, Hong Kong’s insurtech CoverGo, and Belgian-Swiss digitised mortgage SaaS firm Oper Credits.
Tenity said that it is looking at a second closing in Q4 2023.
Maximilian Spelmeyer
Maximilian Spelmeyer, Chief Investment Officer at Tenity said,
“We support founders over several months throughout the incubation program and use our experience to give them the tools and connections to succeed.

With continued commitment from our partners, this year we enhance the Tenity offering through investment, on top of providing access to network and business expertise, introductions to corporate partners, a selection of mentors and our investor network.”
]]></description><link>https://fintechnews.eu/tenity-ropes-in-six-ubs-julius-baer-generali-for-first-close-of-its-fintech-fund</link><guid>3134</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Tenity Ropes in SIX, UBS, Julius Baer, Generali for First Close of Its Fintech Fund</dc:text></item><item><title>Fintech Founders, Execs Dominate Forbes 2023 Under 30 Europe Finance List</title><description><![CDATA[Forbes has released its annual Under 30 Europe list, recognizing the continent’s top 300 brightest founders, entrepreneurs and executives who are building bold companies that are out to combat climate change, fight fraud and reinvent the banking industry.
In the finance category, fintech founders and business leaders are dominating this year’s list. Of the 30 duos and personalities listed, 23 are from the sector, applying technologies like blockchain and data analytics as well as digital platforms to address climate change, the business funding gap as well as startup investment.
Robert Pasco, 29, Co-Founder and CEO, Plend





   



    
   


   








Robert Pasco is the co-founder and CEO of Plend, a consumer lending startup based in the UK he co-founded in 2020 after an eight-year career in tax and accounting.
Plend offers a consumer lending platform designed to help people access affordable credit. The platform is powered by open banking and uses live, forward-looking data, enabling customers to lend at affordable rates that were otherwise locked out from affordable credit due to inaccurate or completely invisible credit records.
Plend secured GBP 40 million in seed funding in November 2022.
Przemek Kowalczyk, 29, Szymon Sypniewicz, 28, Co-Founders, Ramp

Szymon Sypniewicz and Przemek Kowalczyk are the founders of Ramp, a UK-based startup offering payment infrastructure to connect crypto and traditional finance.
Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries and territories with a streamlined and smooth experience in converting between cryptocurrencies and fiat currencies. Ramp is integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more.
The company has secured over US$120 million in funding.
Ibrahim Alkurd, 26, Founding Partner, Lavaliere Capital Management

Ibrahim Alkurd is a founding partner of Lavaliere Capital Management, a digital asset investment firm managing over US$30 million. The firm offers professionally managed digital asset investment products and counts among its investors high net worth individuals (HNWIs), family offices and fund of funds located within the US and internationally.
Aside his role at Lavaliere Capital Management, Alkurd is also a tech and finance entrepreneur that has founded three other companies, a charity and invested in dozens of businesses. His five most recent investments are Guider, Kalaam, Shawarma Shack, Causal, Skillza.
Nils Feigenwinter, 22, Leon Stephan, 26, Co-Founders, Bling

Nils Feigenwinder and Leon Stephan are the founders of Bling, a German fintech startup that helps families with young children bank better. The company develops educational payment cards and applications to help children deal with finances, and learn to use digital money and allows them to understand their income and expenses and become money-wise.
Bling says thousands of families are leveraging its services and more than 10,000 children using a Bling card as their first personal payment experience.
Thomas Bohner, 28, Chaim Finizola, 29, Maxim Piessen, 28, Co-Founders, Credix Finance

Thomas Bohner, Chaim Finizola, and Maxim Piessen are the founders of Credix Finance, a decentralized credit platform that connects investors with fintech credit opportunities in Latin America. The company offers financing to businesses in Brazil, Colombia, and Mexico and has provided US$30 million so far.
Credix Finance recently raised US$11.25 million in a Series A which it said it would use to accelerate the development of its platform, team growth, and integration with Web3 projects.
Ayelen Denovitzer, 29, Co-Founder, Solvo Finance

Ayelen Denovitzer is the co-founder of Solvo Finance, a finance company working to make crypto simple, easy and understandable by curating the best, high-quality investments.
The Solve Finance app’s initial release include two key features: Savings, a yield-generating product, and Bundles, which provides diversified exposure to a set of high-quality investments in different areas of crypto. In September 2022, the company announced the close of a US$3.5 million fundraising round.
Prior to Solvo Finance, Ayelen worked at digital bank Revolut, where she oversaw the roll out of the company’s crypto product for its 25 million users worldwide. Born and raised in Argentina, Ayelen started her career as a consultant at Bain and Company where she worked with consumer products companies and financial services firms.
Albert Geisler Fox, 25, Co-Founder and CEO, Performativ

Albert Geisler Fox is the co-founder and CEO of Performativ, a company that develops modern solutions for the asset and wealth management industry. At Performativ, he oversees operations and is closely connected to the engineering department.
Originally trained in the institutional asset management space, Geisler Fox spent most of his career with Danish asset management consultancy Kirstein. At Kirstein. he was officially head of data, managing a small team of data scientists. Prior to his employment with Kirstein, he worked as a DevOps engineer at Meebox, and as a financial researcher at Danish television station TV 2.
Leanne Holder, 29, CEO, Giving To Services

Leanne Holder is the CEO of Giving To Services, a crypto startup that aims to recognize and reward public service workers with financial support.
Holder is a multi-award-winning entrepreneur, a delegate to the UN Women UK CSW67 and a winner of the 2023 Women in IT awards.
Her business successes have led to her being named Best Newcomer in the Wirex Rising Women In Crypto Power List, one of the Top 7 Crypto CEO’s in the world, as well as one of the UK’s most Inspirational female entrepreneurs in 2021.
Ankush Jain, 29, Co-Founder and Chief Investment Officer, Aaro Capital

Ankush Jain is the co-founder and chief investment officer of Aaro Capital, a UK-based digital asset investor. As chief investment officer, Jain directs the firm’s investment strategy, leading fund selection and portfolio construction.
Before co-founding Aaro Capital, Jain was part of the multifund investment team at US$24 billion Nedgroup Investments, where he was actively involved in the asset allocation process as part of the International Investment and Strategy Committees. He also advised on manager screening and manager selection across multiple asset classes.
Jain has broad experience in financial markets, working closely with both institutional investors and HNWIs, and has been actively trading cryptocurrencies on his personal account since 2017. He is also a CFA charterholder and a member of the CFA Institute.
Cristian Dan, 29, Co-Founder and CTO, Yayzy

Cristian Dan is the co-founder and CTO of Yayzy, a fintech platform that uses payment data via open banking standards to automatically calculate the carbon footprint of each purchase a user makes. The platform also provides users with tips to help them reduce their impact.
Dan is a self-driven software engineer with strong technical and communication skills who’s passionate about developing products focused on customers’ needs. He holds a master’s degree in Distributed Computing and Systems in Internet from Universitatea Babes-Bolayi.
Georgia Stewart, 27, Co-Founder and CEO, Tumelo

Georgia Stewart is the CEO and co-founder of Tumelo, an impact-focused fintech firm based in the UK.
The company’s solution gives retail investors and pension members visibility over their underlying fund holdings and a shareholder voice on issues they care about at companies they own, such as gender equality and climate change. Its white-label software plugs into existing investment platforms and pension portals, driving positive engagement between investment providers and their clients and, ultimately, influencing better stewardship across the asset management industry.
Prior to co-founding Tumelo, Stewart worked for Jupiter and Alliance Trust on sustainable asset management, as well as Fauna and Flora International on natural capital. She studied Climate Change and Conservation under a Natural Sciences degree at Cambridge.
Sébastien Lubineau, 27, Gabriel Thierry, 25, Baptiste Wiel, 25, Co-Founders, Karmen

Gabriel Thierry, Baptiste Wiel, and Sébastien Lubineau are the co-founders of Karmen, a company that provides instant, non-dilutive financing offers for digital small and medium-sized enterprises (SMEs). Through its plug and play digital platform, the fintech startup allows companies to securely share data from their billing, accounting and banking suite of tools in a matter of minutes to assess credit risk and determine in less than 48 hours whether or not the player is eligible for financing.
Karmen closed a EUR 22 million equity and debt financing round in February to expand its platform, launch in new markets, and recruit new talents.
Philip Kelvin, 29, Co-Founder and CEO, Tranch

Philip Kelvin is the co-founder and CEO of Tranch, a business-to-business (B2B) buy now, pay later (BNPL) platform based in New York City and London.
Tranch enables software-as-a-service (SaaS) and services providers to be paid upfront and offer their customers flexible payment options up to 12 months. By offering the Pay with Tranch payment method at checkout, these businesses are able to offer an alternative way for their end-customers to pay for contracts worth up to US$500,000.
Tranch is backed by investors including Global Founders Capital, Y Combinator, Soma Capital, FoundersX. It secured US$100 million in seed equity and debt funding in January.
Bastian Larsen, 29, Founder and CEO, BlackWood Ventures

Bastian Larsen is the founder and CEO of BlackWood Ventures, a pan-European early-stage venture capital (VC) firm focused on supporting visionary entrepreneurs within fintech, Web3, and cleantech.
Prior to founding BlackWood Ventures, Larsen worked for BlackRock in London, Geneva, and New York, where he co-led the global product strategy for the firm’s US$10 billion merger and acquisition (M&amp;A) hedge fund. He holds an MBA from the University of Oxford and a bachelor’s degree from Copenhagen Business School.
Jacob Lindberg, 29, Co-Founder and CEO, Vinter

Jacob Lindberg is the co-founder and CEO of Vinter, a regulated index provider specialized in crypto assets. The company collects digital asset data from hundreds of sources, transforming proprietary strategies into investable products.
Vinter works with leading issuers in Europe to create exchange-traded products, and is behind the first crypto indexes in the Nordics approved by the European Securities and Markets Authority (ESMA).
Vinter raised US$3.4 million in seed funding in January 2022 to hire senior data analysts and scientists, build out its team of backend developers and technical data engineers, and expand its business reach.
James Long, 29, Investment Director, UBS Next

James Long is a founding member of UBS’s US$200 million corporate venture capital unit, UBS Next Investments. Long focuses on early-stage opportunities and handles everything from deal sourcing to portfolio management.
Prior to joining UBS, Long worked in the strategy and consulting service line of Publicis Sapient for five years, advising financial services companies. He initially joined the strategy team at UBS in 2019, which subsequently evolved into UBS Next.
Nina Mohanty, 29, Co-Founder, Bloom Money

Nina Mohanty is the co-founder of Bloom Money, a company that helps immigrants borrow and save money in a transparent and straightforward manner and which uses a community-led approach to financial services. The startup has secured a US$1.2 million pre-seed round, according to Forbes.
Mohanty’s professional background is in fintech, having worked at companies such as including Mastercard, Starling Bank, Bud, and Klarna.
Daniela Raffel Torrebiarte, 29, Vice President, Dawn Capital

Daniela Raffel Torrebiarte is the vice president of Dawn Capital, a London-based venture firm that backs European founders building next-generation software. She joined Dawn Capital as an associate in May 2020 and was promoted to vice president in the shortest time at the fund to date.
At Dawn Capital, Raffel Torrebiarte looks for exceptional businesses in the fintech and future of work space in the UK, Germany, Austria and Switzerland (DACH), and the Iberian markets.
She joined the firm from Capital on Tap, a London-based SME-lending fintech where she focused on automating customer onboarding, product and partnership development, and operational improvements. Before that, she was at McKinsey, advising retail banking clients on how to implement new technologies and ways of working.
Charles Read, 29, Founding Partner, Rarestone Capital

Charles Read is a founding partner at Rarestone Capital, a VC firm headquartered in London which invests in projects related to distributed technology, blockchain and the metaverse.
Rarestone Capital focuses on offering founders long-term financial and intellectual capital, supporting founders and technologists globally. The firm reached US$100 million in assets under management (AUM) in 2021.
At Rarestone, Read focuses on all things gaming, virtual and augmented reality and non-fungible tokens (NFTs). Since 2017, he has invested in over 100 startups across the Web3 stack, many of which became unicorns and helped move the industry forward.
Sylvan Martin, 28, Norman Wooding, 28, Co-Founders, Scrypt Digital

Sylvan Martin and Norman Wooding are the co-founders of Scrypt Digital, a company that offers traditional brokerage services for the crypto world, like market making and prime brokerage.
Wooding is a serial entrepreneur who has been involved in the blockchain and digital asset space since 2014. At Scrypt Digital, he’s in charge of evolving the strategic vision, promoting an agile and entrepreneurial working environment while building innovative products and investment solutions.
Martin is an alumni board-member of HWZ Zurich and prominent figure in the Swiss business landscape. At Scrypt Digital, he is responsible for frictionless operations, team management, as well as business relations.
Claudia Stankler, 28, Chief Operating Officer, Connectd

Claudia Stankler is the chief operating officer of Connectd, a community-driven technology platform connecting investors and advisors with leading and relevant startups. The company’s platform offers a three-sided early-stage funding marketplace supported by SaaS resolution to provide data for startup investment.
Connectd counts more than 1,650 members worldwide and says it has supported 1,250 funding round and helped place more than 1,100 advisors.
Stankler has a varied work experience. Prior to joining Connectd, she served as the head of operations for Nutrifix, a wellness company, and Tlero, a mental health company.
Cecilia Wang, 27, Investor, Accel

Cecilia Wang is an investor at Accel, a renowned American VC firm that has funded the likes of Facebook, Slack, Dropbox, Flipkart, and Vox Media. She joined Accel in 2021 and focuses on fintech, software and consumer businesses.
Prior to joining Accel, Wang was Revolut, working on product strategy and helping the company reach profitability. Previously, she worked at Citi’s banking, capital markets and advisory group in New York and London.
Wang was born in Sweden and grew up in Hong Kong. She graduated from the University of California, Berkeley.
Ruth Williams, 24, Principal, BNY Mellon

Ruth Williams is a principal in the digital assets business at the Bank of New York Mellon (BNY Mellon). At the bank, she leads product experience as BNY Mellon develops its digital cash offering and is building their first blockchain engineering team in Europe.
Based in Dublin, Williams joined BNY Mellon in 2022 from Meta, previously known as Facebook, where she dealt with fintech, payments experience and commerce products
]]></description><link>https://fintechnews.eu/fintech-founders-execs-dominate-forbes-2023-under-30-europe-finance-list</link><guid>3132</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Fintech Founders, Execs Dominate Forbes 2023 Under 30 Europe Finance List</dc:text></item><item><title>CV Labs Selects 9 Startups for the Fifth Batch of Its Blockchain Accelerator</title><description><![CDATA[CV Labs, the international ecosystem builder of blockchain venture capital firm CV VC, announced the fifth batch of its global blockchain business accelerator.
Nine startups were selected from over sixty countries for the Batch_05 based on the impact and utility that their solution will bring.
The CV Labs Accelerator provides each participant up to US$135,000 capital, access to other capital avenues, one-on-one mentorship, and customised growth hacks for blockchain entrepreneurs.




   



    
   


   








Participants will also benefit from the infrastructure of the broader Crypto Valley ecosystem which is counted as the most mature blockchain hub globally with over 1000 entities operating within the most favorably regulated system. Many of them are located in CV Labs’ hi-spec office space.
The accelerator will operate for ten weeks from 27 March 2023 and will be held at the CV Labs accelerator space in Zug, Switzerland.
Tracy Trachsler
“The impact of blockchain is enormous, so it is inspirational to work with entrepreneurs who are focused on building solutions that provide a social as well as economic benefit.

Blockchain is wide open for innovators to have a major impact, and our proven accelerator provides founders a valuable opportunity and optimal conditions for growth.”
said Tracy Trachsler, MD Switzerland CV Labs,
Janis Aquilar
“Here in Crypto Valley, the home of Ethereum, we have over 6000 people working in blockchain not only creating new financial models but better ways of interacting and transacting across multiple industries, generating greater efficiencies for society.

We are very excited about all participants and are honored that we will be joined by teams from Africa where the deeply transformative capacity of blockchain is palpable, daily”
said Janis Aquilar, Ecosystem Manager at CV Labs.
The following startups were selected for Batch_05:
 Ivory Pay (Nigeria)

Problem – cross-border payment in Africa is still one of the most expensive in the world. Costing an average of 8 to 10% of the value of each transaction
Solution – a payment gateway for African businesses that enables payment in stable crypto across borders at cheaper fees and without FX restrictions
Nyayomat (Kenya)

Problem – micro merchants need credit access to purchase products
Solution – working capital support technology through smart contracts executing transactions, enabling merchants to access product capital and repay partners as they make their sales
Web3 Sanctuary (South Africa)


Problem – scarcity of skilled Web3 developers
Solution – online training platform to teach software developers how to code for Web3 applications and assist them in getting placed in Web3 developer roles
Fungies (Poland &amp; USA)

Problem – game studios are focused on making games and don’t always have the resources to make their own storefront or marketplace
Solution – Shopify for the gaming industry that’s both Web2 and Web3 compatible
Zero-Code (Estonia)

Problem – Web3 has tremendous potential to build effective loyalty &amp; rewards programs, but they are complex and expensive
Solution – a no-code platform with plug &amp; play utilities to build Web3-enabled sites
Coala Pay (USA &amp; Australia)

Problem – international aid money is lost before it gets to communities and there is no direct access to the most effective aid actors
Solution – make moving aid money simple, borderless, and programmable, and track the impact. Donors are connected directly to grassroots aid actors
Pyrpose (Switzerland)

Problem – lack of engaging climate solutions that ordinary citizens can access
Solution – a marketplace where SMEs and citizen investors can interact, transact and ensure large-scale solutions are funded. Use of regenerative finance where the citizen investor is able to reprogram their digital assets to go directly back into the marketplace and regenerate not only compound returns but also compound impact.
GalaxyX (USA)

Problem – developers and Web3 businesses struggle to measure activity on apps, websites, NFT platforms, and games using IPFS for their data storage
Solution – an easy-to-integrate platform/toolset for developers to produce anonymous metrics on IPFS/Filecoin data.
Colecti (Netherlands – sponsored by Lisk)

Problem – NFTs are not accessible to their intended users and only address a small number of traders today
Solution – an easy-to-use platform that offers users and creators easy access to NFT innovation and trading, so those inside and outside the crypto sphere can buy and trade digital assets and forge the next generation of NFTs
Startup founders at CV Labs Zug who have commenced a 10 week acceleration programme
]]></description><link>https://fintechnews.eu/cv-labs-selects-9-startups-for-the-fifth-batch-of-its-blockchain-accelerator</link><guid>3131</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>CV Labs Selects 9 Startups for the Fifth Batch of Its Blockchain Accelerator</dc:text></item><item><title>Revolutionising Swiss Banking: Why Instant Payments are the Future</title><description><![CDATA[The demand for instant payment (IP) services around the world has soared in recent years, primarily driven by shifting customer expectations for fast, convenient, and seamless fund transfers.
In response to this demand, the Swiss Interbank Clearing (SIC) payment system announced it will process IP, operated by SIX on behalf of the Swiss National Bank. By August 2024, banks processing more than 500,000 SIC messages annually will be required to facilitate IP, 24 hours a day, 7 days a week, and 365 days a year. All other banks in the region will need to comply by 2026.
Other regions are fast-tracking their strategies too. The EU’s SEPA Instant Credit Transfer scheme was launched in 2017, and the European Commission recently announced its move to mandate IP. In the UK, the upcoming New Payments Architecture (NPA) is in the process of being delivered by Pay.UK.
Switzerland has proven to be a leader in payments innovation, such as with its readiness to move to the ISO 20022 standard. To remain competitive on the global stage, a seamless roll-out and execution of IP in the region will be crucial, and Swiss banks need to be prepared.
These deadlines will come around quickly, so banks have to prioritise investing in the necessary infrastructure and technology, supported by the right partners, now.
The need for instant payments
While IPs provide great benefits for banks, businesses and consumers, they can also increase risks. One major risk is that instant payments could spur instant fraud.
Facilitating a payment in real-time provides a very narrow window for banks to detect fraud, and the potential financial and reputational consequences of this could be huge.
In addition to protecting their customers from fraudulent activity, banks need to ensure they can remain fully compliant with increasingly stringent anti-fraud regulations.
For example, ongoing changes in Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance guidelines expose banks to high false positives, manual interventions, and inadequate sanctions screening, potentially leading to an increase in money laundering.
Technologies such as machine learning, AI and behavioural analytics are becoming critical for banks to automate this process and detect and prevent fraudulent transactions in real-time. Mitigating fraud at its source increases the security of their offering and the trust of their customers, whilst ensuring they remain compliant with regulations.
Ultimately, streamlining screening and fraud prevention practices will reduce costs in the long-term. This should therefore be a priority that coincides with a bank’s IP strategy.
Legacy infrastructure can slow adoption 
Finastra’s recent ‘Payments Modernisation and Technology: Priorities, Challenges, and Partnerships’ global survey finds that real-time payments are one of the largest drivers of payments modernisation.
Many financial institutions are somewhere in the process of deploying new payment rails, with about 72% of respondents having completed a project, having one in progress, or with plans to implement. This suggests that most banks are welcoming modernisation as a key differentiator and opportunity to innovate.
Despite this shift to real-time payments, many banks experience implementation challenges, with 57% of respondents reporting that adapting legacy infrastructure makes modernisation efforts extremely or very challenging.
To overcome these challenges, banks need to accelerate their cloud strategies. With cloud-based systems, banks benefit from enhanced scalability, flexibility, and security that allows them to implement IP effectively and seamlessly, whilst driving operational costs down.
Tapping into a cloud and open-API based ecosystem provides additional benefits. Having access to specialist third-party services through a wider ecosystem means that banks can implement necessary services that may otherwise take too long or cost too much to implement themselves.
For example, fintech solutions exist that specialise in real-time fraud detection and compliance with AML and KYC. Via an ecosystem model, these services can be easily and seamlessly implemented within a bank’s existing offering.
Finding the right partner
To implement and offer IP quickly and seamlessly, banks need to find the right technology partner. They need a provider with strong expertise in payments, who understands the impact of upcoming regulations and can offer robust solutions to support their needs.
Finastra has extensive experience in the payments industry – specializing in areas such as Open Finance, digital transformation and instant payments – and works in close collaboration with regulators and industry bodies. Its award-winning solutions are trusted by banks in Switzerland and worldwide, including 90 of the world’s top 100 banks.
Finastra’s Payments To Go is a scalable SaaS solution that provides end-to-end payment processing, enabling banks to accelerate their IP services roll-out and deliver flexible digital payment offerings faster and more efficiently.
The cloud-based offering provides the flexibility required by banks to adapt quickly to new customer and regulatory demands, whether in relation to Instant Payments, new clearings and alternative payments methods, or combatting fraud.
It is also integrated with Finastra’s open platform for innovation, FusionFabric.cloud.
Orchestrated by Finastra, FusionFabric.cloud helps to drive collaboration and innovation across the financial services industry by giving banks access to a marketplace of specialised applications provided by fintechs.
Through open APIs, banks can easily integrate these solutions with Payments To Go and their existing offerings, helping them to future-proof their business, innovate at speed and scale, and free up resources to focus on serving their customers.
The future of payments 
To remain competitive in the rapidly evolving payments industry, banks must adapt to the changing needs of their customers and the broader market. This requires investing in and upgrading their infrastructure, embracing new technologies, and implementing robust security measures.
Failure to adapt could result in banks losing customers to more agile and forward-thinking competitors, including fintechs and non-bank providers, who may disrupt the market and capture market share.
In the case of IP, failure to adequately adapt could also result in financial and reputational damage.
But the move towards IP in Switzerland is about more than just compliance. It is changing how consumers and businesses transact and providing impetus to the financial services industry to continue its journey towards Open Finance.
This is a huge move for the payments industry and a big undertaking for financial institutions. For those who have not yet embraced IPs, time and costs for compliance could be substantial. This is why collaboration is key.
Finastra believes that finance is open. Through open technology, open finance and open culture, we are partnering with our customers to help them embrace IP and ongoing innovation, so they can provide their customers with the superior and seamless experiences they expect.
]]></description><link>https://fintechnews.eu/revolutionising-swiss-banking-why-instant-payments-are-the-future</link><guid>3130</guid><author>Administrator</author><dc:content /><dc:text>Revolutionising Swiss Banking: Why Instant Payments are the Future</dc:text></item><item><title>Swiss Bankers Association Makes Case for Digital Swiss Franc</title><description><![CDATA[In Switzerland, the introduction of a digital Swiss franc could further boost the local digital asset industry, foster innovation in the domestic market and support the Swiss franc as a means of payment, the Swiss Bankers Association (SBA), the country’s primary industry group representing the Swiss banking sector, says in a new whitepaper.
The paper, released on March 13, 2023, makes a case for the introduction of a digital representation of the national currency, arguing that a digital Swiss franc would be an important contribution to Switzerland’s competitiveness and innovative power, and would help the nation bolster its sovereignty.
A stablecoin supported by the Swiss banking industry
A number of factors are contributing to this belief. First, central banks from around the world are actively exploring the merits of central bank digital currencies (CBDCs); second, consumers are embracing digital payments; and third, regulators are accelerating efforts to introduce rules that cater to the thriving cryptocurrency industry, the trade group says.




   



    
   


   








Against this backdrop and considering developments such as the tokenization of assets and the emergence of decentralized finance (DeFi) applications, the SBA says it is working on the concept of a digital currency in the form of tokenized deposits.
This system, referred to as a “deposit token”, would be based on public blockchain technology and would come with smart contract features. If carefully designed, it could allow for a wide range of new applications, reduce risks, increase efficiency, and open up whole new areas of business, the group says.
Possible applications highlighted in the report include its use as a substitute to private stablecoins such as USD Coin for the buying and selling tokenized assets, more efficient and cost-effective peer-to-peer payments, as well as its use in transactions executed by machines within the Internet-of-Things, on Web3 and in the metaverse.
A deposit token would also lay the foundations for a distributed ledger technology (DLT)-based financial ecosystem, the report says, enhancing the maturity of this ecosystem, bringing about new applications and making it more attractive for Swiss users by reducing entry barriers and supporting financial transactions in their reference currency.

A currency for the new digital economy
CBDCs have been a hot topic among governments over the past couple of years. In Switzerland, the Swiss National Bank (SNB) has been involved in a number of CBDC projects with the Bank for International Settlements (BIS), including Project Helvetia, which focuses on tokenized asset settlement in wholesale CBDC (wCBDC); Project Helvetia, which focuses on the integration of a CBDC into a financial market infrastructure for the custody and transfer of tokenized securities based on DLT; and Project Jura, which explored settling foreign exchange FX transactions in euro and Swiss franc wCBDCs.
Though the Swiss Federal Council and the SNB have both shared that there is no urgent need to introduce a digital Swiss franc at the time being, they have however acknowledged the potential of a CBDC for innovation in digital payments.
At the same time, regulators are increasing their focus on digital assets after a series of high-profile collapses, that included FTX, Terra and Three Arrows Capital, sent shockwaves through the industry.
Just last month, the British finance ministry laid out its first set of rules to regulate digital assets, proposing to bring stablecoins as well as centralized cryptocurrency exchanges into the regulatory perimeter.
In the European Union (EU), the Markets in Crypto-Assets Regulation (MiCA), which is expected to go into effect in 2024, will introduce a common licensing regime for crypto wallets and exchanges to operate across the EU and will apply stricter rules than those currently in place in some European countries.
Booming interest in digital currencies comes at a time when usage of digital payments is rising rapidly amid changing consumer behavior and preferences. According to French information technology and consulting firm Capgemini, non-cash transaction volume nearly doubled between 2016 and 2020, soaring from just 480 billion transactions in 2016 to more than 845 billion in 2020.
Adoption of digital payments among consumers and businesses is set to continue its upward trend, with volumes projected to record a 16.5% annual growth rate between 2021 and 2026. This growth will be driven by infrastructure improvements, market maturity and rising demand from customers for convenient, tech-enabled solutions, the firm says.
]]></description><link>https://fintechnews.eu/swiss-bankers-association-makes-case-for-digital-swiss-franc</link><guid>3129</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Swiss Bankers Association Makes Case for Digital Swiss Franc</dc:text></item><item><title>Checkout.com Enables Businesses to Issue Virtual and Physical Cards</title><description><![CDATA[Global payments solution provider Checkout.com has rolled out a new offering which will enable businesses to issue fully customisable virtual and physical cards.
The company said that the new Checkout.com Issuing offering takes the complexity out of adding financial services products and helps businesses go live with card programmes quickly.
Businesses can now own and differentiate their card from the rest, whether it’s with a sustainable card using eco-friendly or recycled materials to avoid plastic waste or unique colour combinations.




   



    
   


   








Inflexible legacy technology has meant that multiple integrations and operational inefficiencies have prevented businesses from sharing interchange fees.
Checkout.com Issuing’s modern platform removes patchwork integrations, enabling businesses to unlock new revenue streams through receiving a percentage of card interchange fees.
Meron Colbeci
Meron Colbeci, CPO at Checkout.com said,

“Card issuance and embedded finance has exploded over the past few years as sectors like online travel, marketplaces and digital banking use payments to stay at the heart of their customers’ financial lives.

Checkout.com Issuing is built on open, flexible APIs that mean businesses can create purpose-built card programmes, enhance cash flow and unlock new revenue opportunities.”

]]></description><link>https://fintechnews.eu/checkoutcom-enables-businesses-to-issue-virtual-and-physical-cards</link><guid>3128</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Checkout.com Enables Businesses to Issue Virtual and Physical Cards</dc:text></item><item><title>The Impact of Silicon Valley Bank’s Collapse on Fintech</title><description><![CDATA[With over 2,600 fintech clients, Silicon Valley Bank (SVB) is more than just bank and venture debt lender. Beyond banking and financing, SVB is also a technology partner to many fintech companies, serving as a gateway for commercial payments and online payments acceptance, a new analysis by tech market intelligence platform CB Insights shows.
Overall, SVB has been a key stakeholder in the local fintech startup ecosystem, serving more than 2,690 fintech clients, the report says. These companies account for 71% of all fintech initial public offerings (IPOs) since 2020.
According to the report, the bank’s sudden collapse on March 10, 2023 has affected 45 fintech partners and customers that span over a dozen areas within the sector.




   



    
   


   








Data show that payments, accounting, expense management and lending are the four areas where partnerships have been the most common, with partners and clients that include Affirm, a buy now, pay later (BNPL) service provider; Settle, an all-in-one payment solution serving e-commerce brands; and Soldo, a payment and spend automation platform for businesses.
E-commerce, banking, blockchain and cryptocurrency, wealthtech, insurance as well as fraud and identity are other fintech segments SVB has been involved in, having built ties with the likes of Payoneer, a payment platform for cross-border digital businesses; Shopify, an e-commerce company; Thought Machine, a fintech company that build cloud-native core banking and payment technology; Circle, the company that operates the popular stablecoin USD Coin (USDC); Hometree, a home services company offering cover plans to UK homeowners and landlords; Stash, a personal finance app that combines banking, investing and advice; and Onfido, a digital identity and authentication specialist.
The collapse of SVB
On March 10, 2023, SBV collapsed after a bank run, marking the second-largest failure of a financial institution in US history.
Founded in 1983, SVB specialized in banking for tech startups, providing financing for almost half of US venture-backed tech and healthcare companies, as well as banking and loans to venture capital (VC) firms. It was also an investor itself into a number of blue chip venture funds, as well as tech startups. SVB was, just before its failure, America’s 16th largest commercial bank, with US$209 billion in total assets at the end of 2022.
SVB imploded after being forced to sell securities at a loss amid higher interest rates. Spooked investors and depositors rapidly began pulling their money, leading a staggering US$42 billion of deposits being withdrawn the day before the bank shut down.
The California Department of Financial Protection and Innovation seized SVB on March 10, and placed it under the receivership of the Federal Deposit Insurance Corporation (FDIC).
First Citizens BancShares eventually agreed to buy SBV earlier this week, taking on all deposits and loans in a deal that includes the purchase of about US$72 billion SVB assets at a discount of US$16.5 billion, according to a Bloomberg report. In the UK, HSBC has stepped up to purchase the local arm of the bank for GBP 1 in a rescue deal.
Impact on fintech
The collapse of SVB has had significant consequences for startup companies in the US and abroad. In the UK, it’s estimated that some 3,000 UK tech firms were at risk of going under without a rescue, according to Fortunes.
“[Silicon Valley Bank] was really the heart and lungs of the tech startup community in Silicon Valley – and worldwide,” Dan Ives, an analyst at Los Angeles-based investment firm Wedbush Securities told the Guardian on March 15. “The ripple effect will be felt for years to come.”
In the fintech sector, the failure of SVB will have a profound impact on the industry, says to Flagship Advisory Partners, a fintech consultancy and merger and acquisition (M&amp;A) advisory firm. It will prompt many companies to take deeper looks at the risks inherent in their operating models, and begin mitigation.
“SVB’s collapse serves as a strong reminder that fintechs typically have highly concentrated operating models clustered around a few key partners,” the firm wrote in a recent report. “This presents both systemic and idiosyncratic risks that need to be identified and at least partially mitigated.”
According to Flagship Advisory Partners, many fintech companies disclosed their deposit exposure to SVB in the days that followed the bank’s collapse, revealing that several of them had concentrated their cash there.
Circle, for example, revealed that it had US$3.3 billion of its US$40 billion USDC reserves were held at the bank; Xero, an Australia accounting software provider, said it had a total of exposure of US$5 million; and Payoneer said that less than US$20 million of its US$6.4 billion total cash balances were held at SVB.
Key fintech customers’ exposure to Silicon Valley Bank, Source: Flagship Advisory Partners, March 2023


]]></description><link>https://fintechnews.eu/the-impact-of-silicon-valley-banks-collapse-on-fintech</link><guid>3127</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>The Impact of Silicon Valley Bank’s Collapse on Fintech</dc:text></item><item><title>Curve Partners DIGISEQ to Offer Wearable Payments in 31 European Countries</title><description><![CDATA[Financial super app Curve has partnered with UK-based DIGISEQ to enable wearable payments option across 31 European countries where it is now live.
DIGISEQ’s wearable tech enables virtually any passive item without a battery – such as a ring, bracelet, even an item of clothing – to be inserted with a chip and be transformed into a contactless payment device.
Users can now link their card to their wearable item using DIGISEQ’s white-labelled Manage-Mii™ app, activating it in seconds, allowing them to make Curve-powered wearable payments immediately.




   



    
   


   








This will allow consumers to securely provision their Curve payment account onto their wearable using their Android or iOS smartphone.
Founded in 2015, Curve’s mobile platform allows users to manage their spending on all linked debit and credit cards, and access a growing number of payment functionalities features including contactless and mobile payments.
Curve’s mobile platform also provides users with access to innovative features including its ”Go Back in Time” transaction switching solution, cashback, competitive FX rates and free ATM withdrawals.
Terrie Smith
Terrie Smith, Co-founder and Global Ambassador of DIGISEQ said,
“We’re thrilled to share the benefits of our contactless payment solution with Curve, enabling payments to be made through a spectacular range of unique and stylish wearables readily available on the market.”
Shachar Bialick
Shachar Bialick Curve’s Founder and CEO said,
“We are very excited to partner with DIGISEQ to deliver new, exciting and innovative ways for people in over 30 countries to use their Curve card. Our work with DIGISEQ will help us bring Curve payments to wearable technology that people already use every day, furthering our mission to become the most consumer-centric financial tool in anyone’s wallet – or ring, bracelet, and anywhere else they choose to use DIGISEQ’s technology.”

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/curve-partners-digiseq-to-offer-wearable-payments-in-31-european-countries</link><guid>3125</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>Curve Partners DIGISEQ to Offer Wearable Payments in 31 European Countries</dc:text></item><item><title>J.P. Morgan to Acquire Aumni for Its VC Investment Analytics Software</title><description><![CDATA[J.P. Morgan has inked a deal to acquire Aumni, a U.S.-based investment analytics software provider for the venture capital industry. Financial terms of the transaction were not disclosed and closing is expected in the first half of 2023.
Aumni will continue to be headquartered in Salt Lake City, Utah once the acquisition has been completed.
Founded in 2018, Aumni’s proprietary data analytics engine structures, tracks and analyses essential legal and economic terms underpinning growth-stage private market transactions, placing critical portfolio investment terms within users’ easy reach.




   



    
   


   








With a diverse client base of over 300 institutions ranging from venture managers to multinational asset managers, Aumni has evaluated more than US$600 billion in invested capital across more than 17,000 private companies.
J.P. Morgan said that the acquisition of Aumni solidifies its commitment to building the leading private markets platform for companies, their employees and investors, as well as its confidence in the resilience of the venture-backed ecosystem.
Aumni also complements the recent launch of Capital Connect by J.P. Morgan and the acquisition of Global Shares.
Michael Elanjian
“We’re thrilled to see this collaboration come to fruition as J.P. Morgan first invested in Aumni in 2021 and quickly realized shared synergies of providing more transparency to the private markets,”
said Michael Elanjian, Head of Digital Investment Banking, Head of Digital Private Markets, J.P. Morgan.
Tony Lewis
“We are excited to partner with J.P. Morgan, expediting the realization of our vision to bring more structure, transparency and liquidity to the historically opaque private markets. Together, we can create a best-in-class suite of services for private market participants, enhancing the experience for all current and future clients,”
said Tony Lewis, CEO, Aumni.

This article first appeared on Fintech News America. 
]]></description><link>https://fintechnews.eu/jp-morgan-to-acquire-aumni-for-its-vc-investment-analytics-software</link><guid>3126</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Top-Banking-Trends-in-Switzerland-2023-SIC-Instant-Payments-Beyond-banner.png?x30842</dc:content ><dc:text>J.P. Morgan to Acquire Aumni for Its VC Investment Analytics Software</dc:text></item><item><title>German Fintech Raisin Secures €60 Million Series E</title><description><![CDATA[Raisin, a Berlin-based fintech providing savings and investment products, announced that it has raised €60 million in a Series E funding round from a number of new and existing investors including M&amp;G’s Catalyst and Goldman Sachs.
With the new investment, Raisin is looking to revamp its investment product as well as accelerate growth in expanding markets such as the United States where the fintech already has a presence since 2020.
Raisin reported that it had recently exceeded 1 million customers and currently manages a total of €38 billion Assets under Management (AuM) for customers globally.




   



    
   


   








The fintech claims to have already been profitable for half a year and had managed to grow its AUM by more than 30% in the past six months.
Dr Frank Freund
Dr Frank Freund, Chief Financial Officer and Co-founder of Raisin said,
“The investment marks another important step in our objective to provide savers throughout the European Union, the United Kingdom and the United States with straightforward and fair products. With the new commitment, we will be better positioned to bring value to even more consumers and partners.”


]]></description><link>https://fintechnews.eu/german-fintech-raisin-secures-60-million-series-e</link><guid>3124</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>German Fintech Raisin Secures €60 Million Series E</dc:text></item><item><title>German Fintech Sector Continued to Grow and Mature in 2022</title><description><![CDATA[﻿With nearly 1,000 fintech startups, among which 13 unicorns, a burgeoning startup ecosystem and a supportive regulatory and political landscape, Germany has become one of the world’s top fintech markets and the European Union (EU)’s fintech leader.
In 2022, the sector continued to grow and mature, on a back of solid funding activity, a dynamic merger and acquisition (M&amp;A) landscape, and growing usage of digital financial services, including cashless payments and online brokerages, a new report says.
The study, produced by Fintech Consult, a fintech advisory company, and Contextual Solutions, a Berlin-based consultancy, coaching and publication agency specialized in fintech, legaltech and tech marketplaces, looks at the German fintech industry, providing an overview of the ecosystem and sharing key market trends.




   



    
   


   








In the first eight months of 2022, German fintech companies secured a total of EUR 3.2 billion, already surpassing pre-COVID levels, the study found. The figure suggests that total fintech funding in Germany for 2022 will likely not reach 2021 levels (EUR 6 billion) but remained nevertheless strong despite the global downturn.
Funding rounds of German fintech companies per year, Source: German Fintech Report 2023, Contextual Solutions/Fintech Consult, 2023
A testament of the sector’s maturing is the rise of fintech deal sizes over the past couple of years, data from the report show. In 2022, the average fintech funding size reached a record of EUR 45.8 million, more than double the average deal size in 2019 (EUR 21.4 million).
Another evidence is the sustained M&amp;A deal activity the sector witnessed in 2022 through deals like the acquisition of Simplesurance by Allianz X in September, the acquisition of Penta by French fintech rival Qonto in July, and the acquisition of Kontist by Ageras Group in July as well.
Average fintech funding size in Germany by year, Source: German Fintech Report 2023, Contextual Solutions/Fintech Consult, 2023
Rising usage of digital financial services
The growth of the German fintech sector comes on the back rising usage of digital financial services. Most notably, the report highlights the boom in online retail brokerage, where securities trading increased by a staggering 80% in 2020 over all German exchanges.
German exchange Tradegate reported that the number of trades on its platforms increased threefold between 2019 and 2020, soaring from just 18 million to 61.5 million. These figures imply an average annual growth rate of 86%.
Number of trades on the Tradegate exchange annually, Source: German Fintech Report 2023, Contextual Solutions/Fintech Consult, 2023
Digital payments are another fintech category that has witnessed steady growth over the past few years, especially since the COVID-19 pandemic. According to a survey conducted by the Deutsche Bundesbank, the German central bank, 43% of the consumers polled said they had changed their payment behavior in recent months.
Rising usage of digital payments comes at the detriment of cash. Since 2017, the share of cash payments measured by the number of transactions has declined by 16%, the Fintech Consult/ Contextual Solutions report notes. In contrast, the share of debit and credit card transactions grew by 4% and 5%, respectively.
Strategy consultancy payment experts expect the use of cash to continue to fall substantially in the years to come, a report by Germany Trade and Invest, the country’s economic development agency, claims. They project that the share of cash transactions will fall by 20 percentage points from 52% in 2017 to 32% by 2025.
Germany’s fintech journey
Germany is one of the largest and most vibrant startup ecosystems in the world, hosting more than 70,000 ventures and producing around 3,000 new startups each year, the Fintech Consult/ Contextual Solutions report says.
In this ecosystem, fintech has become one of the country’s most prominent startup segments, accounting for 3.1% of all of the country’s with nearly 1,000 companies in the space.
The German fintech industry is highly diversified, it notes, but insurance (104 companies), payments and remittances (95), and blockchain and digital assets (72) are the three largest fintech verticals.
Prominent names in these categories include Wefox, a digital insurer that’s at valued US$4.5 billion; Tradias, a division of securities specialist Bankhaus Scheich, which provides a decentralized finance (DeFi) service platform; and Fundament, a provider of asset tokenization services.
Fintech verticals in Germany and their respective number of startups, Source: German Fintech Report 2023, Contextual Solutions/Fintech Consult, 2023
Germany’s fintech journey started back in early 2010s with neobanks, digital and peer-to-peer (P2P) lenders, digital wallets and payment solutions starting to emerge in the first wave. Many of these fintech companies are now in the scale-up phase and becoming profitable.
Between 2014 and 2017, the ecosystem focused mostly on establishing solid foundations for the growth of the fintech sector, prioritizing talent acquisition, accelerator and incubator programs, attracting investors as well as the regulatory landscape. The period also saw an acceleration of the growth of the local fintech startup scene, which recorded an average growth rate of 25% per year between 2013 and 2018 in terms of the number of fintech companies.
After this wave, in 2018, the focus started shifting towards new trends including artificial intelligence (AI), blockchain and green/sustainable fintech. The number of fintech companies joining the sector also started slowing down, witnessing an annual growth rate of 9% between 2018 and 2021. Additionally, more fintech companies have been closing their businesses since 2018, the report notes, further indicating a maturing ecosystem.
Existing fintech companies in Germany, Source: German Fintech Report 2023, Contextual Solutions/Fintech Consult, 2023

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/german-fintech-sector-continued-to-grow-and-mature-in-2022</link><guid>3123</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>German Fintech Sector Continued to Grow and Mature in 2022</dc:text></item><item><title>Swiss Payment App TWINT Adds Three New Members to Its Executive Board</title><description><![CDATA[Swiss mobile payment app TWINT announced that Jens Plath, Adrian Plattner and Thomas Graf will be joining its Executive Board, effective 1 April 2023 onwards.
TWINT said that Plath, Plattner and Graf have played a significant role in the positive development and growth of the company in recent years.
In order to provide even greater support to the continued strategic development of TWINT, they will continue performing their functions as part of the Executive Board.




   



    
   


   








Jens Plath oversees the consumer sector as Chief Marketing Officer and is also responsible for strategic projects in the domain “Beyond Payment”. Meanwhile, Adrian Plattner leads the acceptance of TWINT in retail and the further expansion of the TWINT ecosystem as Chief Sales Officer.
Thomas Graf as Chief Product Officer, is responsible for strengthening and further developing the core payment functions of the TWINT app.
Other members of the Executive Board include Chief Executive Officer Markus Kilb, Chief Information Officer Simon Wehrli, and Chief Financial Officer Thomas Wicki.
TWINT reports that it now has five million active users and 386 million transactions were made using the app in 2022 alone.
Søren Mose
“Jens Plath, Adrian Plattner and Thomas Graf have contributed tremendously to the success of TWINT and the implementation of the company’s strategic goals in recent years. Their wide range of skills and experience are therefore the perfect addition to the Executive Board.”
said Søren Mose, Chairman of the TWINT Board of Directors.
]]></description><link>https://fintechnews.eu/swiss-payment-app-twint-adds-three-new-members-to-its-executive-board</link><guid>3121</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Swiss Payment App TWINT Adds Three New Members to Its Executive Board</dc:text></item><item><title>Digitales Geschäftskonto für KMU’s: Relio erhält Fintech-Lizenz</title><description><![CDATA[Relio erhält von der Eidgenössischen Finanzmarktaufsicht (FINMA) die Fintech-Lizenz. Mit der Bewilligung plant das Startup die Lancierung eines digitalen Geschäftskontos für KMU. Mit einer eigens entwickelten Compliance-Technologie richtet sich das Angebot vor allem an anspruchsvolle Firmenkunden.
Unabhängig dank eigener FINMA-Lizenz
Nach einem umfassenden Genehmigungsverfahren erlangt Relio eine Fintech-Lizenz der FINMA. Mit der Bewilligung will das Startup demnächst ein digitales Konto für Unternehmen lancieren. Das Angebot ist vor allem für Firmenkunden mit komplexen Business Modellen und internationalen Geldflüssen interessant. In diesem Marktsegment verursachen Anforderungen an die Compliance und Geldwäschereibekämpfung sowohl auf Banken- als auch Kundenseite hohe Aufwände. Dieses Problem löst Relio mit der Automatisierung vieler Compliance-Aufgaben.




   



    
   


   








Lav Odorovic
“Dank unserer Lizenz arbeiten wir unabhängig von Partnerbanken und deren überholten Strukturen, Prozessen und Technologien. Nur so können wir die Digitalisierung der Compliance konsequent vorantreiben und unseren Kunden sehr viel Bürokratie ersparen”,
so Lav Odorovic, CEO von Relio, über die Vorteile einer eigenen Fintech-Lizenz.
Fintech-Bewilligung als Innovations-Booster
Während Fintech-Startups weltweite Verbreitung fanden, gab es auf dem Schweizer Finanzplatz lange Zeit kaum neue Impulse. Zu hoch waren die regulatorischen und finanziellen Einstiegshürden, um als neuer Akteur in der Schweiz Fuss zu fassen. Zur Förderung von innovativen Finanzunternehmen hat der Gesetzgeber deshalb 2019 die Fintech-Bewilligung geschaffen.
Im Vergleich zu einer vollen Banklizenz sind die Bewilligungsverfahren erleichtert und die Kapitalanforderungen tiefer. Die Publikumseinlagen sind für jedes Fintech auf bis zu hundert Millionen Schweizer Franken limitiert. Die Gelder dürfen zudem weder angelegt noch verzinst werden. Stattdessen werden Sie bei der Schweizerischen Nationalbank deponiert, damit sie den Kunden wieder ausbezahlt werden können, wenn ein Fintech in finanzielle Schieflage gerät. Damit eröffnet die neue Fintech-Bewilligung viel Potenzial für Neues, ohne die Kunden einem hohen Risiko auszusetzen.

Bildnachweis: Gründerteam von Relio – Milos Stokic, Marketingleiter, Lav Odorovic, CEO und Zarko Vukadinovic, COO
]]></description><link>https://fintechnews.eu/digitales-geschaftskonto-fur-kmus-relio-erhalt-fintech-lizenz</link><guid>3122</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Digitales Geschäftskonto für KMU’s: Relio erhält Fintech-Lizenz</dc:text></item><item><title>Swiss Fintech Study 2022: Fintech Sector Rebounds After 2021 Decline</title><description><![CDATA[After a market slump in 2021, the Swiss fintech industry rebounded in 2022, with the number of companies operating in the sector rising, investment increasing, and banking incumbents stepping up their digitalization game, a new report by the Lucerne University of Applied Sciences and Arts’ Institute of Financial Services Zug (IFZ) says.
The annual IFZ Fintech Study, released earlier this month, presents the current state and advancements in the Swiss fintech sector, examining trends and sharing predictions for the year ahead.
Results from the research show that the Swiss fintech sector grew considerably in 2022, rising from 384 active companies at the end of 2021 to 437 fintech companies a year later. The number – a new all-time high – represents a growth of 14% in the number of fintech companies active in the country year-over-year (YoY).




   



    
   


   








A breakdown by product area shows that the growth in 2022 was led by an increase in fintech companies operating in the segments of investment management, which added 21 companies (+14% YoY), as well as banking infrastructure, which added 20 companies (+16.4% YoY). These two categories have historically been Switzerland’s most developed fintech segments.
A breakdown by technology area shows that distributed ledger technology (DLT) saw the biggest growth in 2022, adding 22 companies (+19.5%).
Number of fintech companies by year, and by product area and technology category, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Fintech investment remains strong
Despite the global downward trend, fintech funding activity in Switzerland remained strong in 2022. Against all odds, Swiss fintech companies secured a new record of CHF 605 million last year, up 36 YoY.
The growth of fintech funding in 2022 was driven by early-stage startups and seed rounds, which totaled CHF 120 million through 45 deals. 2022 was also marked by a mega-round of CHF 100 million and up. The deal, which was secured in January, was conducted by SEBA Bank and involved a CHF 110 million Series C.
VC activity in the Swiss fintech sector, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Despite rising fintech funding, access to financing remains a hurdle
Although data show that Switzerland largely escaped the global funding downward trend, access to financial resources for fintech companies was perceived to be more difficult last year than the previous, results of a survey conducted as part of the study show.
The survey, which polled more than 160 fintech companies, found that the biggest YoY changes were recorded in access to financing, which increased the most in urgency (+17%), followed by the challenge related to finding customers (+8).
At the other end of the spectrum, the impact of COVID-19 recorded the largest decrease in urgency (-28%).
Year-over-year change in average values of selected challenges in the Swiss fintech sector, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Swiss banks ramps up digital efforts
Another survey conducted as part of the study, which polled 61 Swiss banks, found that financial institutions increased their information technology (IT)-related resources in 2022.
These resources are now being increasingly invested in transforming the banking business, including the digitalization of business processes, and less in the pure maintenance of day-to-day business, results show.
In particular, 52% of Swiss banks said they invest a majority of their IT costs in “change-the-bank” activities, while 48% invest the majority in “run-the-bank”. These findings indicate increasing innovation in the banking sector, the report says.
Percentage of IT costs associated to run-the-bank and change-the-bank, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Sustainable fintech gains traction
Another trend highlighted in the report is the rise of sustainable fintech. These companies aim to contribute to sustainable development by providing innovative products, services, and processes in the financial industry.
The study identified 32 Swiss-based sustainable fintech companies as of the end of 2022, implying that 7.3% of the country’s fintech companies are falling into the category. The figure represents a larger market share than the previous year during which sustainable fintech companies accounted for just 4.4% of the total industry.
As sustainable fintech continues to grow and evolve, new business models and opportunities are expected to emerge in the near future, the report says.
Cumulative number of sustainable fintech company incorporations by year, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Crypto trading volumes dip
2022 was a turbulent year for the cryptocurrency market, which saw total market capitalization loose two third of its value.
This so-called prolonged “crypto winter” has impacted trading activity, especially indirect products on crypto. In 2022, the total monthly trading volumes of indirect investment products in Switzerland, including exchange-traded products (ETPs) and open end funds, decreased significantly.
As of December 2022, the total market turnover was CHF 52 million. Compared with the highest figure of over CHF 1.2 billion in February 2021, this represents a decline of 96%. Total annual trading volume reached CHF 2.1 billion, down 76% from 2021 with CHF 8.6 million.
Market turnover on the SIX Swiss Exchange by month, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023
Direct investments in crypto, notably through centralized exchanges, also declined considerably in 2022.
In December, centralized exchanges cleared CHF 1.6 billion in spot trading, a figure that is about ten times smaller than the record month of May 2021, when they cleared about CHF 17.1 billion.
Monthly spot trading volume on centralized crypto exchanges from Switzerland, Source: IFZ Fintech Study 2023, Institute of Financial Services Zug (IFZ), March 2023

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/swiss-fintech-study-2022-fintech-sector-rebounds-after-2021-decline</link><guid>3118</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Swiss Fintech Study 2022: Fintech Sector Rebounds After 2021 Decline</dc:text></item><item><title>8 Hot DeFi Startups in Europe to Watch in 2023</title><description><![CDATA[Despite slumping markets, the decentralized finance (DeFi) industry continued to grow last year, driven by sustained funding activity and increased user adoption.
In 2022, DeFi users growth averaged 44% quarter-over-quarter (QoQ), according to a report by crypto fund HashKey Capital. In Q3 2022, the industry reached a milestone, surpassing the five million DeFi wallet threshold.
This growth came amid sustained support from investors in the cryptocurrency sector. In 2022, DeFi companies raised a total of US$2.71 billion in funding, almost triple the US$930 million raised in 2021 and over 41 times the US$65 million raised in 2020, data from crypto data aggregator CoinGecko show.




   



    
   


   








As interest in and usage of DeFi continue to grow, a number of young ventures are rising to fame on the back of strong customer growth and rising investors interest.
Today, we look at eight up-and-coming DeFi startups in Europe that are poised for growth in 2023.
Aave (Switzerland)

Aave is a decentralized, non-custodial crypto lending platform that allows users to borrow, lend and earn interest on crypto assets without the need of middleman. Running on the Ethereum platform, Aave uses a system of smart contracts that enables assets to be managed by a distributed network of computers.
Founded in 2017, Aave is based in Switzerland. The company, formerly known as ETHLend, raised US$16.2 million in an initial coin offering (ICO) in 2017 and secured a US$25 million venture capital investment round in 2020.
Aave currently has more than US$4 billion in total value locked (TVL), making the fourth largest DeFi app, data from DeFi Lama show. Last year, it was named one of the world’s top 50 blockchain companies by Blockdata.
SingularityNET (Netherlands)

Based in the Netherlands, SingularityNET is a blockchain-based artificial intelligence (AI) project built on the Cardano network. The company is developing a decentralized marketplace for AI algorithms, allowing companies, organizations, and developers to buy, sell and cooperate on AI projects at scale.
SingularityNET was launched in 2017 and secured US$36 million in funding through an ICO held in the same year. Last year, it secured a US$25 million commitment from global investment group LDA Capital Limited to accelerate their product roadmap, the adoption of AI tools for DeFi, and scaling the SingularityNET ecosystem.
Curve Finance (Switzerland)

Founded in 2020 and based in Switzerland, Curve Finance provides an exchange liquidity pool on Ethereum. The company’s automated market maker (AMM) platform focuses on accommodating liquidity pools made up of similarly behaving assets like stablecoins, or wrapped crypto tokens such as wBTC and tBTC.
Curve Finance uses smart contracts to offer an efficient way to exchange stablecoins while maintaining low fees and low slippage, the company says.
Curve Finance experienced the highest daily trading volume this year, exceeding US$7 billion last week.
Zenith Chain (Lithuania)

Founded in 2021 and based in Lithuania, Zenith Chain is developing an environment built to usher in Web 3.0 integrations at scale. The Zenith blockchain network is an infrastructure where developers can launch applications with ease of deployment, delivery and maintenance. The technology natively enables low-cost transactions along with a digital identity and a robust testnet to enable a variety of use cases.
Zenith Chain also operates FuzionX, a comprehensive crypto and non-fungible token (NFT) trading platform.
Zenith Chain secured its cryptocurrency license to operate in Lithuania in July 2022. The licensing came on the back of a US$35 million Seed funding from GEM Capital.
3Commas (Estonia)

Founded in 2017 in Estonia, 3Commas is a product ecosystem offering trading tools and automated strategies managed by machine learning-driven trading bots that use historical data. The company’s platform, which connects to more than 17 platforms, allows users to deploy automated trading bots and manage their portfolios from one spot. It claims over 220,000 registered users.
3Commas recently launched the DeCommas subsidiary to provide users with easier access to trade automation in DeFi.
3Commas has secured US$40 million in funding, its latest round being a US$37 million Series B closed in September 2022. The company said it would use the proceeds to advance bot technology, expand the trading ecosystem, and enhance developer tools.
Argent (UK)

Founded in 2017, Argent provides a decentralized, non-custodial wallet for Ethereum-based digital currencies and blockchain applications, allowing users to buy, hold, sell and store crypto tokens. The company also offers Argent Vault, a crypto storage solution for wallets with US$50K plus, and Argent X, a browser wallet for StarkNet.
Argent secured a US$40 million Series B round in April 2022 to accelerate its mission to build a Web 3.0 and DeFi super app. The company said it would use the proceeds for product development, recruitment and to expand into South America.
Argent is backed by some of Silicon Valley and Europe’s top investors, including Paradigm, Index Ventures, Creandum and firstminute capital.
Tesseract Investment (Finland)

Founded in 2017, Tesseract Investment is a regulated institutional digital asset lending company based in Finland, providing yield-generating solutions to institutional clients, such as cryptocurrency trading platforms and custodians across Europe and other emerging markets.
The company provides a white-label product, Earn API by Tesseract, which allows partners to provide their customers with interest-bearing products with a risk and return profile of their choosing.
Tesseract Investment has over 60 partners and clients worldwide, and claims more than US$1.4 billion in loan originations.
Tesseract Investment raised a US$25 million Series A in July 2021 to develop its offerings, hire new talent, develop new partnerships and boost innovation.
Credix (Belgium)

Founded in 2021 and based in Belgium, Credix provides a decentralized credit ecosystem that gives borrowers in emerging countries access to previously untapped capital.
The company enables fintech companies and other non-bank lenders to convert their receivables and real assets into investment capital. All financing happens on-chain using USDC and smart contracts, creating instant efficiencies, settlement and more transparency.
Credix claims it has grown 20-fold since its launch and originated more than US$23 million in active loans in a six month period.
The company secured a US$11.25 million Series A in November 2022, which it said it would use to accelerate the development of its platform, team growth, and integration with Web 3.0 projects. The round followed a US$2.5 million early-stage seed round raised in 2021.
]]></description><link>https://fintechnews.eu/8-hot-defi-startups-in-europe-to-watch-in-2023</link><guid>3119</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>8 Hot DeFi Startups in Europe to Watch in 2023</dc:text></item><item><title>Maerki Baumann Partners With Redalpine to Launch New Venture Capital Fund</title><description><![CDATA[Zurich-based private bank Maerki Baumann &amp; Co. announced that it has partnered with Redalpine Venture Partners, a Swiss venture capital firm, to launch a new venture capital fund for its private clients.
The investment opportunity is based on the “Redalpine Summit Fund”. Redalpine’s underlying investment instrument includes a broadly diversified portfolio with selected holdings in companies at different development phases.
The investment focus is placed on growth-oriented companies that are at an early stage of their life cycle and possess scalable business models in the areas of software, technology, health tech and life sciences.




   



    
   


   








The regional focus of the investment activities is primarily in Europe, with particular attention on the DACH region (Germany, Austria and Switzerland).
Both entities have also jointly established a “Tech Advisory Board” that offers selected entrepreneurs a platform for the exchange of information and practical experiences relating to the topics of venture capital and technological innovations.
]]></description><link>https://fintechnews.eu/maerki-baumann-partners-with-redalpine-to-launch-new-venture-capital-fund</link><guid>3117</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Maerki Baumann Partners With Redalpine to Launch New Venture Capital Fund</dc:text></item><item><title>Maerki Baumann’s Clients Can Now Invest in Redalpine’s Venture Capital Fund</title><description><![CDATA[Zurich-based private bank Maerki Baumann &amp; Co. announced that it has partnered with Redalpine Venture Partners, a Swiss venture capital firm, to enable its clients to invest in the latter’s venture capital fund.
The partnership allows Maerki Baumann’s clients to invest in the existing “Redalpine Summit Fund”. The fund targets information technology, healthcare, financial service, energy, consumer products and services, business products and service sectors.
The investment focus is placed on growth-oriented companies that are at an early stage of their life cycle and possess scalable business models in the abovementioned sectors.




   



    
   


   








The regional focus of the investment activities is primarily in Europe, with particular attention on the DACH region (Germany, Austria and Switzerland).
Both entities have also jointly established a “Tech Advisory Board” that offers selected entrepreneurs a platform for the exchange of information and practical experiences relating to the topics of venture capital and technological innovations.
]]></description><link>https://fintechnews.eu/maerki-baumanns-clients-can-now-invest-in-redalpines-venture-capital-fund</link><guid>3120</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Maerki Baumann’s Clients Can Now Invest in Redalpine’s Venture Capital Fund</dc:text></item><item><title>SICTIC Facilitated Close to 70% Of IT, Fintech Funding Rounds in 2022</title><description><![CDATA[The Swiss ICT Investor Club (SICTIC), a non-profit organisation that connects investors to local early stage tech startups, reported that it had facilitated 106 out of the 153 funding rounds for Swiss early-stage startups in the ICT and fintech sectors last year.
These findings were detailed in the annual SICTIC Investment Report which outlined that SICTIC had covered 69% of all early-stage financing in Swiss ICT and fintech startups.
The aggregated portfolio of the SICTIC investor community had grown to feature 254 startups, some of which have already achieved or are about to achieve unicorn status, i.e. a company valuation of more than one billion Swiss francs. Furthermore, SICTIC had also reported 9 exits last year.




   



    
   


   








Moving forward, SICTIC will be expanding its focus to support startups from other technology sectors in the future.
Chart: SICTIC Investment Highlights 2022
Thomas Dübendorfer
“Despite many uncertainties in the market and an increase in inflation, 2022 was an extremely strong growth year for venture capital in Switzerland.

This not only underlines the quality and robustness of Swiss startups, but also demonstrates SICTIC’s leading role as the most active matchmaking platform for Swiss early-stage financing”
said Dr. Thomas Dübendorfer, President of SICTIC.
Thomas Ackermann
“We want to extend our successful and efficient matchmaking process to other sectors.

This offers opportunities for our investors to further diversify their portfolio, but it allows us to further increase our contribution to the Swiss startup ecosystem, as more startups can benefit from our matchmaking process,”
explains Thomas Ackermann, Managing Director of SICTIC.
﻿
]]></description><link>https://fintechnews.eu/sictic-facilitated-close-to-70-of-it-fintech-funding-rounds-in-2022</link><guid>3115</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>SICTIC Facilitated Close to 70% Of IT, Fintech Funding Rounds in 2022</dc:text></item><item><title>SICTIC Facilitated Close to 70% Of Swiss Early Stage ICT, Fintech Funding Rounds in 2022</title><description><![CDATA[The Swiss ICT Investor Club (SICTIC), a non-profit organisation that connects investors to local early stage tech startups, reported that it had facilitated 106 out of the 153 funding rounds for Swiss early-stage startups in the ICT and fintech sectors last year.
These findings were detailed in the annual SICTIC Investment Report which outlined that SICTIC had covered 69% of all early-stage financing in Swiss ICT and fintech startups.
The aggregated portfolio of the SICTIC investor community had grown to feature 254 startups, some of which have already achieved or are about to achieve unicorn status, i.e. a company valuation of more than one billion Swiss francs. Furthermore, SICTIC had also reported 9 exits last year.




   



    
   


   








Moving forward, SICTIC will be expanding its focus to support startups from other technology sectors in the future.
Chart: SICTIC Investment Highlights 2022
Thomas Dübendorfer
“Despite many uncertainties in the market and an increase in inflation, 2022 was an extremely strong growth year for venture capital in Switzerland.

This not only underlines the quality and robustness of Swiss startups, but also demonstrates SICTIC’s leading role as the most active matchmaking platform for Swiss early-stage financing”
said Dr. Thomas Dübendorfer, President of SICTIC.
Thomas Ackermann
“We want to extend our successful and efficient matchmaking process to other sectors.

This offers opportunities for our investors to further diversify their portfolio, but it allows us to further increase our contribution to the Swiss startup ecosystem, as more startups can benefit from our matchmaking process,”
explains Thomas Ackermann, Managing Director of SICTIC.
﻿
]]></description><link>https://fintechnews.eu/sictic-facilitated-close-to-70-of-swiss-early-stage-ict-fintech-funding-rounds-in-2022</link><guid>3116</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>SICTIC Facilitated Close to 70% Of Swiss Early Stage ICT, Fintech Funding Rounds in 2022</dc:text></item><item><title>German Fintech Cashlink Closes Series A Led by TX Ventures</title><description><![CDATA[Germany-based Cashlink Technologies announced the closing of its mid seven-digit Series A fundraising round led by fintech investor TX Ventures. Details of the fundraise was not disclosed.
The round was also joined by Futury Capital, BMH Hessen, business angels as well as existing investors C3, seed&amp;speed, DEWB and Panta Rhei.
Founded in 2016 by Michael Duttlinger and Lars Olsson, Cashlink offers an infrastructure for tokenised assets.




   



    
   


   








It covers the entire value chain including distribution, register management, custody, asset servicing for tokenised assets combined with a strong regulatory framework.
Cashlink has been granted the provisional crypto registry license by Germany’s financial regulator BaFin which enables the issuance of fully compliant tokenised securities.
Michael Duttlinger
Michael Duttlinger, Co-founder and CEO of Cashlink said,
“The introduction of crypto securities in Germany has been a great growth engine for Cashlink. Especially the planned extension of regulation from digital securities to stocks will enable further adoption.

We are really pleased that we ensured a solid financial base for further expansion in this sector with this investment.”
Krzysztof Bialkowski, Managing Partner at TX Ventures said,
Krzysztof Bialkowski
“We strongly believe that asset tokenisation will revolutionize the securities market by offering benefits such as increased liquidity, faster settlement, lower costs and by addressing a broader public.

Cashlink, and its highly professional team with impressive regulatory know-how, is very well positioned to address this market and to become a leader in the tokenisation space in Europe. We are very much looking forward to working together and supporting the team on their growth journey.”


Featured image credit: Cashlink management team from left to right: Lars Olsson, Dorette Daume, Michael Duttlinger
]]></description><link>https://fintechnews.eu/german-fintech-cashlink-closes-series-a-led-by-tx-ventures</link><guid>3114</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>German Fintech Cashlink Closes Series A Led by TX Ventures</dc:text></item><item><title>Globe Pivots From Telco to ‘Techco’ to Find the Big Problems and Solve Them at Scale</title><description><![CDATA[Digital solutions platform Globe is accelerating its pivot from a traditional telecommunications company to a full-fledged tech enterprise, always on the lookout for the next big problem to solve towards digital enablement and transformation.
Ernest Cu
In an interview with WINWIN on the sidelines of the Mobile World Congress (MWC) in Barcelona, Globe Group President and CEO Ernest Cu talked about the company’s purpose-driven approach to empowering people through digitalisation.
Globe’s shift from telco to ‘techco’ began when it became the number one mobile operator in the country in 2016. This success prompted the organisation to expand its vision and place greater emphasis on digital solutions.
“What we decided to do was shift our focus to become a purpose-led company. And being purpose-led means going beyond just winning the telco game. It is helping our countrymen live their daily lives and helping the country improve its stature in the world,”
Cu said.
To start the journey, Globe decided to face the problem of financial inclusion head-on by partnering with Ant Financial in 2017 to relaunch GCash, which has now grown into the country’s leading e-wallet platform with over 76 million users.
GCash helped address the issue of access to financial services, given that most Filipinos were unbanked at the time and only about 3.5 million had credit cards. The situation had made the process of digital payments and giving credit scores very difficult. But GCash turned this around.
“In the end, 8 of 10 Filipinos now have access to financial services. They can transfer electronically, they can pay digitally, they can borrow money using a credit score that we’ve been refining all these years,” Cu said.
Cu said the Globe Group is constantly looking for the next major problem to solve through innovative services that can scale or has a big addressable market. It also wants to be the first mover in the digital solutions space.
“We don’t want to be entering the space and competing with the giants out there. We want to be the giant when we do succeed. So we’re focusing on healthcare, education, providing livelihood, and even sustainability,”
he said.
Globe still faces challenges as it transitions into a full-fledged digital solutions platform, including getting customers and regulators up to speed.
“Filipinos tend to look at new applications, new ways of doing things, with a little bit of mistrust, so we got to build their trust,” he said. “The second is the regulators. We are now pushing the envelope in terms of the things that we want to do. And so sometimes they are still mired in the old way of doing things, and it takes us quite a bit of time to convince them to see this is really good for our country.”
Globe continues to dominate the mobile segment with over 86.7 million customers nationwide. Its telco business has served as its unfair advantage in its expansion, enabling it to leverage these assets to build new businesses. In this space, Globe is “far first ahead” from competitors, said Cu.
The company has ventured into digital marketing solutions, venture capital funding startups, virtual healthcare, e-commerce, business outsourcing, adtech, edutech, media, and entertainment, among others.
“This (transformation) is not happening overnight. It’s not about deciding to do this one year and the next year we’re done. It has been a 14-year journey which I started when I joined Globe. We will continue to do this, and hopefully, with the support of our government and our partners, we will bring about a better life for our country,”
Cu concluded.
Learn more about Globe here. 

]]></description><link>https://fintechnews.eu/globe-pivots-from-telco-to-techco-to-find-the-big-problems-and-solve-them-at-scale</link><guid>3113</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Post-MWC-PR-Article-Image-insert-01.jpg?x30842</dc:content ><dc:text>Globe Pivots From Telco to ‘Techco’ to Find the Big Problems and Solve Them at Scale</dc:text></item><item><title>Competition Heats up Among Digital Nomad Visa Nations</title><description><![CDATA[As the digital nomad lifestyle becomes increasingly popular, countries around the world are setting up special visa programs for remote workers and digital entrepreneurs, allowing them to legally live and work in the country.
So-called digital nomad visas have popped up all around the globe over the past couple of years to tap into the digital nomad opportunity, seeking to lure cross-border remote workers into spending their foreign income domestically.
Since Estonia introduced the world’s first digital nomad visa program back in 2020, it’s estimated that over 50 locations have followed suit, including Dubai, Hungary and Costa Rica.




   



    
   


   








This year, competition is heating up among countries looking to attract international remote workers, with new programs being launched and new countries unveiling plans to join the movement.
Spain digital nomad visa
image via Unsplash
Spain’s long awaited digital nomad visa finally rolled out in February 2023, allowing citizens from outside of the European Union (EU) and the European Economic Area (EEA) to live and work in the country for a year.
The Spanish digital nomad visa is open to those who work remotely and whom make most of their income from non-Spanish firms. Applicants must not be living illegally in Spain at the time of their application and cannot have lived in the country within the five years prior to applying.
To apply, they must prove that they have worked with their clients or company for more than three months before applying, and must be able to demonstrate that they have a contract of employment or, if freelancing, have been regularly employed by a company outside of Spain.
They also need to prove that they are qualified or experienced in their field, and have at least three years of work experience. Health insurance is also required, in addition to a two-year clear criminal record and a sworn statement that they haven’t had a criminal record within the last five years.
The income threshold is set at 200% of the country’s monthly minimum wage, which currently amounts to about EUR 2,334 per month or EUR 28,000 per year.
Successful applicants will be eligible to apply for a Spanish residency permit, which will enable them to travel around the EU. The visa is renewable for up to five years.
Colombia digital nomad visa
image via Unsplash
After a 20-month legislative struggle, Colombia finally introduced its digital nomad visa program in January 2023, allowing freelance workers and remote workers to stay for up to 24 months.
To qualify, applicants need to have a minimum income of three minimum monthly legal salaries in Colombia, which is set at 1,000,000 COP (US$206) or about US$604 per month.
The visa allows visa holders to set up bank accounts in the country and also provides a pathway to immigration and citizenship. The visa costs a little less than US$300, according to CitizenRemote.
Colombia’s tourism bureau expects the visa to draw at least 45,000 digital nomads to the country in the next 18 months.
Italy’s forthcoming digital nomad visa
image via Unsplash
In March 2022, the Italian government approved plans for the Italy Digital Nomad Visa, a scheme, which is set to be rolled out in early 2023 and which will be aimed at non-EU “highly skilled workers.”
Though details of requirements are not clear nor fully finalized yet, it is understood that the program would allow visa holders to stay in Italy for up to a year. Parliament members have also reported that applicants will need a proof of accommodation in Italy, health insurance and a clean criminal record. Applicants will also need to meet minimum income requirements.
South Korea plans “workcation” visa
image via Unsplash
South Korea is among the latest countries to join the movement, unveiling plans earlier this year to launch a so-called “workcation visa.”
The program, which is set to be introduced during the second half of 2023, will allow travelers to stay in the country for up to two years while also performing their usual tasks as an employee of a company from their home country.
The details of the new visa’s implementation have not been released yet, but the scheme will be part of a larger ambition to revitalize the local tourism industry, which has been hit hard by the lingering pandemic.
Ahead of the launch of the new digital nomad visa, the South Korea government has also been working on the creation of various workcation hubs. The workcation center at the Asti Hotel in Dong District, next to the Busan KTX train station, opened in early February 2023. Meanwhile, the port city Busan, which attracts many tourists due to its vibrant seaside, is expected to be hosting several workcation hubs designed specifically for digital nomads.
Croatia digital nomad visa draws thousands of foreigners
image via Unsplash
Croatia, which launched its digital nomad visa program in 2021, has become a popular destination for remote workers, drawing thousands of digital nomads.
Jan de Jong, founder of the Digital Nomads Croatia association, estimates that about 5,000 digital nomads reach Croatia each month.
He told Croatia Week in a recent interview that if every digital nomad was to stay in the country for a period of two months, one can estimate that there are about 10,000 digital nomads in Croatia every month.
Croatia is fast becoming a favored location for remote workers and digital nomads, De Jong said, noting the country’s advanced infrastructure, established community of digital nomads, pleasant lifestyle, and affordability.

Fetaured image credit: Edited from freepik here and here
]]></description><link>https://fintechnews.eu/competition-heats-up-among-digital-nomad-visa-nations</link><guid>3112</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Competition Heats up Among Digital Nomad Visa Nations</dc:text></item><item><title>ECB Survey: Nearly All EU Banks Have Digital Transformation Strategy in Place</title><description><![CDATA[Advancements in technology, rising demand for digital solutions and increased competition have prompted European banking incumbents to undertake digital transformation journeys.
To understand the status of banks’ digitalization efforts, the European Central Bank (ECB) launched in 2022 two major initiatives aimed at gaining a deeper understanding of the digital transformation of the European banking sector. First, it engaged with stakeholders to gain insights into major market trends. Second, it conducted a survey of more than 100 large banks to assess the status of their digital transformation.
Results from the study were released last month and revealed that almost all of the banks surveyed in Europe now have a digital transformation strategy in place. These banks are aiming for improved profitability by embracing a strategy focused on either becoming more customer-centric in how products and services are offered as a lever to increase revenues, or by improving operational efficiency by automating processes and modernizing information technology (IT) infrastructures.




   



    
   


   








The study found that 43% of banks’ top-5 projects are aimed at revenue or customer experience enhancement, and that 83% of banks perceive process automation and IT legacy transformation as a way to reduce costs.
Objectives of key digital projects, Source: European Central Bank study 2022
Results also revealed increased usage of digital channels by banking customers. On average, the surveyed banks indicated concluding nearly half (46%) of their loans via digital channels, with 36% of their customers using mobile banking and 21% using online banking.
Digitally concluded loans (% of total loan), Source: European Central Bank study 2022
Internet vs mobile customers (% of total customers), Source: European Central Bank study 2022
Despite the realization that digitalization has become essential, banks were found to dedicate a limited budget to their digital transformation. On average, banks indicated allocating 5.2% of their staff to digital transformation projects, and dedicating only 2.8% of their operating income to their digitalization efforts.
Digital transformation FTEs as % of total staff, Source: European Central Bank study 2022
Digital transformation budget as % of operating income, Source: European Central Bank study 2022
When it comes to the technologies banks use, findings show that a vast majority of European banks already utilize cloud computing (~85%) and application programming interfaces (APIs) (~90%). 60% of respondents said they use artificial intelligence (AI), but added that more use cases were in development.
Adoption of distributed ledger technologies (DLT), meanwhile, was found to be rather low among European banking incumbents, with less than 20% of the respondents indicating using DLT. When delving into crypto activities specifically, the study found that these applications remained insignificant for the surveyed banks.
Adoption rates of innovative technologies, Source: European Central Bank study 2022
Banks’ digital transformation among ECB supervisory priorities
Increased adoption of digital tools and technology among financial institutions is putting heightened risks of third-party dependency, money laundering, fraud and cybersecurity on the banking sector. These risks require further monitoring and are among the supervisory priorities of the ECB’s Banking Supervision over the next three years, the bloc’s central bank says.
During the 2023-2025 period, the ECB says it will undertake targeted reviews and on-site inspections to ensure that banks are developing and executing sound digital transformation plans through adequate arrangements. Reviews and inspections of outsourcing arrangements, cybersecurity measures and IT risk controls, will also take place to make sure that banks have robust outsourcing risk management, IT security and cyber resilience frameworks in place.
The ECB plans to publish its findings, with a particular focus on best practices, in addition to any deficiencies it may discover. These findings will be down the line integrated into the ECB’s supervisory methodology and will become part of its supervisory guidance and expectations for banks in the coming years.
In the European Union (EU), 2023 is set to be a key year in terms of digital regulation. The bloc’s landmark cryptocurrency legislation, the Markets in Crypto Assets (MiCA) regulation, is nearing completion and is slated for vote in April.
The new regulation, which is expected to go into effect in 2024, will introduce a common licensing regime for crypto wallets and exchanges to operate across the EU and will apply stricter rules than those currently in place in some European countries.
Under the legislation, crypto companies will be required to keep the public informed about their pricing process and trading volumes in real time, settle all trades the same day those trades happen, and keep separate their own funds, including crypto, and funds belonging to their clients.
2023 is also set to see the release of a legislative proposal on an open finance framework, an initiative focusing on enabling data sharing and third party access for a wider range of financial sectors and products.
In parallel, the digital euro project is still in the works and currently undergoing an investigation phase. A document published by the European Commission (EC) in January 2023 revealed that a bill underpinning the digital euro is scheduled to be released in May 2023.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/ecb-survey-nearly-all-eu-banks-have-digital-transformation-strategy-in-place</link><guid>3111</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>ECB Survey: Nearly All EU Banks Have Digital Transformation Strategy in Place</dc:text></item><item><title>7 Startups Selected for Tenity’s Latest Swiss Incubation Programme</title><description><![CDATA[Tenity, Swiss fintech accelerator formerly known as F10, has selected 7 early-stage startups from 5 countries for the 10th edition of its incubation programme running out of Zurich which kicked-off this week. The selected startups will receive an initial CHF 50,000 investment from the Tenity Incubation Fund I. Over the course of the next four months, these entrepreneurs will receive support to refine and validate their business idea and go-to-market strategies. As part of the programme, they will have access to guidance and support from Tenity’s alumni, seasoned mentors, and extensive investor network. The programme will culminate in a highly anticipated Demo Day event in June 22th, 2023. Applications are now open for the Incubation Batch XI in Switzerland and Batch VI in Singapore. Marc Hauser Marc Hauser, Head of Europe and Managing Partner at Tenity commented,
”We couldn’t be more thrilled to welcome the 10th Incubation Batch in Zurich. The selection process was highly competitive, and we extend our congratulations to all the teams who made it.   With such a diverse range of use cases, we are confident that this batch will bring valuable perspectives and enrich the Tenity ecosystem. Our team is eagerly anticipating the opportunity to collaborate with these talented founders and be a part of their journey.”
Maximilian Spelmeyer Maximilian Spelmeyer, CIO of Tenity added,
“From our broad European deal-flow, we had the chance to select outstanding founders and unique ideas. We are more than thrilled and grateful to back our founders the first time with capital from our Tenity Incubation Fund I.   We are looking forward to support the founders with insights, network and additional funding in subsequent rounds.”
Here are the 7 startups of the Switzerland Incubation Batch X:




   



    
   


   








1. DemaTrading.ai (Netherlands)
 Dematrading.ai enables crypto exchanges and asset managers to offer managed index funds to their customers with a plug and play infrastructure solution, increasing safety, profitability and ease of use.
2. Drivata (France)
 Drivata is a platform that uses data generated by drivers to promote eco-driving, responsible consumption, support organizations corporate social responsibility policy, and help develop sustainable cities.
3. Frienton (Germany)
 Frienton provides a digital SaaS solution and new tech-stack for “all-in-one finance” for entrepreneurs and founders.
4. Fume (Switzerland)
 Fume is an on-chain fund management tool to automate the administration through smart contracts, providing selective transparency (ZKP), Proof-of-Reserves, and removing intermediaries while not limiting on-chain funds to only digital assets.
5. Jrny (United Kingdom)
 Jrny is addressing the growing housing crisis in the U.K., which is preventing many young adults from getting on the property ladder, with its Accelerated Ownership plan (rent-to-own with shared upside), aligning incentives between customer and capital.
6. Luumeos (United Kingdom)
 Luumeos provides rapid human-in-the-loop quantamental AI insights from across an organisation’s own talent network to better forecast market performance.
7. SmartPurse (Switzerland)
 SmartPurse iaims to equip its users with the power to take control of their financial future as they seek to democratise financial education and planning.  
]]></description><link>https://fintechnews.eu/7-startups-selected-for-tenitys-latest-swiss-incubation-programme</link><guid>3110</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>7 Startups Selected for Tenity’s Latest Swiss Incubation Programme</dc:text></item><item><title>Taking Stock of CBDCs and the Cross-Border Payments Landscape in Europe</title><description><![CDATA[Recent technological innovations and increasing demand for convenience and security have expedited the shift to digital systems, including financial systems. This has become the catalyst for people and businesses to find new ways of interacting and conducting transactions digitally.
As a result, central banks have shown increasing interest in the central bank digital currency (CBDC) concept to accommodate this demand. Central banks see CBDCs as not only meeting evolving needs of their constituents, but also as a way to drive financial inclusion, thereby levelling the financial playing field.
Additionally, the emergence of cryptocurrencies and stablecoins has highlighted digital currencies’ potential benefits – as well as their drawbacks and central banks are keen to consider the role that CBDCs could play in the broader financial system. Central banks want to be relevant in the digital world with their “brands” such as Dollar, Euro, Sterling, as it provides a digital answer to Crypto payments. The European Central Bank (ECB) is no exception and has been exploring the use of blockchain technology and CBDCs to improve the speed and efficiency of its payment systems.
Innovation in Payments
In recent years, the European payments industry has undergone significant changes, driven by advances in digital technology, the emergence of new payment providers and increasing consumer demand for faster, more convenient and more secure payment options.
In response, European authorities and financial institutions have been working to create an environment that fosters innovation in the payments sector while also striving to ensure the safety and stability of the financial system.
The European Commission has been supporting innovation in the payments industry through initiatives such as the Payment Services Directive (PSD2), which aims to create a more open and competitive market for payment services in the European Union. 
Whilst the European Union has yet to issue a digital euro, it is exploring the possibility of doing so as a way of  ensuring the euro remains a stable and trusted currency in the digital age. The ECB, in leading this exploration, is doing so in a way that a CBDC would complement, not replace, cash. 
According to the ECB, which expects to introduce a digital euro across its 27 member states by mid-2023, “Central bank money is a risk-free form of money that is guaranteed by the state”. That said, the EU still needs to address the change of status of legal tender so as to lay the ground for mass acceptance. 
CBDC spurring financial innovation for local startups and the regional economy
Implementing a CBDC could help spur financial innovation and financial inclusion in several ways.
Improved access to finance as a CBDC could make it easier for local startups and small businesses to access the funds they need to grow and innovate. This is particularly beneficial in situations where access to traditional forms of finance, such as bank loans, can be limited by a lack of historical financial data. 
As long as allowances are built to safeguard users’ privacy and digital identities, an individual’s CBDC account and profile data could be distributed even to providers of traditional financial instruments. For instance, the individual’s CBDC credit information could be shared with lending platforms to supplement traditional credit information like income history, debt, and repayment records – the sort of information unbanked people might otherwise not have access to.
Another benefit is lower transaction costs. CBDCs could reduce the costs of making and receiving payments, particularly for small businesses and underserved consumers, who currently pay disproportionately high fees for using traditional payment systems for domestic and cross border transactions.
The implementation of CBDCs could also promote financial inclusion for marginalised individuals and communities by making it easier for underserved or unbanked populations to access financial services by creating digital financial identities. A digital wallet could allow unbanked or lesser-banked individuals to have access to money movement and credit, establishing a track record of lending in the process if required.
CBDCs could further enable new business models and financial products that are not currently possible with existing payment systems. For example, a classic role of central banks has been to eliminate or reduce credit and get legal tender flowing within their economy. CBDCs encourage this role by making it easier to create liquidity, where physical assets like property can represent by a digital marker on the blockchain and can be moved around or used as collateral to secure a loan.
Monetary policy could also be potentially improved as CBDCs could provide central banks with additional tools to manage the economy and support financial stability. This could assist in economic growth and support the development of local startups and the regional economy.
Finastra’s expertise in financial technology and payments is well-suited to support this technology’s future growth. The company will continue to monitor and adapt to developments in CBDCs and may explore opportunities to offer solutions and services that support the implementation and use of CBDCs in Europe and other regions. 
The CBDC Race and upcoming trends
The global race to issue a CBDC is heating up. With four central banks, the Central Bank of The Bahamas, the Eastern Caribbean Central Bank, the Central Bank of Nigeria, and the Bank of Jamaica leading the pack, other countries are close behind, with several central banks actively working on CBDC pilots. 
Across Europe, many governments are exploring the feasibility and potential benefits of a CBDC. These include France, Norway, the United Kingdom, and Sweden.
It is difficult to predict the exact trends that will shape the development of CBDCs in Europe in the coming years. However, some potential emerging trends include continued exploration and experimentation by central banks to assess the feasibility and potential benefits of issuing a CBDC. 
This also includes the development of industry standards and guidelines to support the smooth operation of CBDCs and ensure interoperability with existing payment systems.
Meanwhile, other trends include the adoption of CBDCs by governments and other authorities to improve the efficiency and accessibility of public services, such as welfare payments and tax collection, and to use CBDCs by businesses and other organisations to facilitate transactions and reduce the need for cash.
Cooperation between fintechs and central banks
Europe has always been a driver of fintech investment. Today, it makes up 17 percent of the global cumulative valuation of fintech companies which totals around USD 2.26 trillion. 
Not only that, fintech adoption across Europe, particularly in nations like the Netherlands, the United Kingdom, Germany, Sweden, and Switzerland, is significantly above the global average of 64 percent.
Fintech companies can play a valuable role in facilitating the adoption and integration of CBDCs by providing expertise, technology, and support to central banks and other stakeholders. 
One way that fintechs can cooperate with central banks to facilitate the adoption and integration of CBDCs is by working together to develop and implement technical standards and protocols for using CBDCs. T
This can help ensure that the different systems and platforms used by fintechs and central banks can interoperate smoothly and efficiently. Additionally, fintechs can educate the public about the benefits of CBDCs and how to use them, which can help to increase their adoption and integration into the broader economy.
Fintechs can also provide expertise and advice to central banks on developing and implementing CBDCs. This could include guidance on the technical aspects of designing and implementing a CBDC and advice on engaging with stakeholders and promoting the currency’s adoption.
In addition, fintech companies can help to ensure that CBDCs are integrated seamlessly with existing payment systems and infrastructure. This could include developing APIs and other technical solutions to enable the smooth flow of information and transactions between CBDCs and other payment systems.
Finastra’s vision and pioneer in innovation 
The Bank of England’s announcement of introducing the ‘Digital Sterling’ by 2025 has created a buzz in the financial industry, with many entities working towards making it a reality. 
One such consortium is Project New Era, in which Finastra, a leading financial services software, and cloud solutions provider, is leveraging its expertise in payments to support the consortium’s efforts.
Finastra believes that CBDCs have the potential to bring many benefits, including greater financial inclusion, faster and cheaper cross-border payments, and enhanced security and resilience. 
The design of CBDCs is still in its infancy, with several experiments ongoing and various approaches being studied. Several technical, economic, legal, and governance challenges must be addressed before any CBDC is fully launched.
Finastra is committed to working with all stakeholders to understand the opportunity CBDCs present and how we can collectively shape the future of money. 
Due to its deep understanding of the financial services sector, Finastra can anticipate bank needs and develop solutions that help them stay ahead of the curve. 
Further, central banks are continuing to explore options for distribution of CBDCs, such as the idea of non-bank financial institutions as custodians/distributors of CBDCs, unlike cash which is reserved only for licensed banks. These options would have implications for interoperability between CBDCs and cash. 
As such, Finastra is also exploring options to enhance its payments platforms to enable the seamless interoperability as they serve their bank and non-bank clients. 
Finastra considers it a privilege to work with some of the most forward-thinking organisations in the industry. It is committed to helping these organisations drive change and shape the future of financial services. 
The landscape of CBDCs will change dramatically in the next two to three years. Although currently, only a handful of countries have actively launched CBDCs among the 100 exploring the technology, this is set to change in the near future as more and more central banks begin to recognise the potential benefits of having a digital version of their country’s currency.
Featured image credit: Edited from freepik here and here
]]></description><link>https://fintechnews.eu/taking-stock-of-cbdcs-and-the-cross-border-payments-landscape-in-europe</link><guid>3109</guid><author>Administrator</author><dc:content /><dc:text>Taking Stock of CBDCs and the Cross-Border Payments Landscape in Europe</dc:text></item><item><title>Aisot Technologies Raises CHF 1.8 Million Seed Funding</title><description><![CDATA[Aisot Technologies, a spin-off from ETH Zurich developing AI-powered portfolio insights for equity and crypto markets, announced that it received CHF 1.8 million in a seed funding round.
The round was led by Swiss investment firm Haute Capital Partners and joined by angel investors, a few of them from the Swiss ICT Investor Club (SICTIC).
Aisot said that the new capital will help to fund key additions to its team, support critical customer demands, product development as well as growth initiatives.




   



    
   


   








This new round of funding brings aisot’s total funding to CHF 2.3 million. Zurich-based accelerator Tenity (formerly F10) and friends and family provided a CHF 0.5 million pre-seed round in 2021.
Stefan Klauser
Stefan Klauser, CEO and Co-Founder of Aisot Technologies said,
“We are excited to partner with HAUTE because they recognise the huge role AI will play in the future of asset management. HAUTE is an ideal partner for aisot as we deepen our AI products and scale our company.

Overall, it has been amazing to see the positive feedback we’ve received from our customers as we work to develop products allowing wealth &amp; asset managers to leverage data, quant tools and AI.”
Thibault Leroy Bürki
Thibault Leroy Bürki, Chairman &amp; CEO at HAUTE said,
“We chose aisot for their innovative approach to wealth management, advanced AI engine, and ability to generate alpha in real-time, making them a leading provider of AI solutions for asset and wealth management.

aisot’s AI engine provides clients with the amazing ability to adjust customised portfolios to market trends in real-time while generating alpha.”


Featured image credit: Aisot Technologies Management Team, from left to right: Roger Peyer, CTO | Stefan Klauser, CEO &amp; Co-Founder | Dr. Nino Antulov-Fantulin, Head of Research &amp; Co-Founder
]]></description><link>https://fintechnews.eu/aisot-technologies-raises-chf-18-million-seed-funding</link><guid>3107</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Aisot Technologies Raises CHF 1.8 Million Seed Funding</dc:text></item><item><title>Lloyds Invests £10Million in Digital ID Firm Yoti</title><description><![CDATA[Lloyds Banking Group has invested £10 million in digital identity company Yoti to develop its new digital identity solution that will be launched later this year.
Yoti offers a range of digital identity solutions that make it simple for people and businesses to protect themselves online.
This includes a free Digital ID app, which gives individuals a safe and instant way to prove their identity from their phone, with no need to show ID documents or share an excessive amount of personal data.




   



    
   


   








Digital IDs are a UK government-approved form of identification for right to work, right to rent and criminal records checks.
Yoti’s Digital ID is also accepted as proof of age at UK cinemas,and for the sale of lottery tickets, energy drinks and tobacco.
Kirsty Rutter
Kirsty Rutter, Fintech Investment Director at Lloyds Banking Group said,
“We are thrilled to be supporting Yoti and their experienced, passionate team with their work to further protect people online, through developing and growing digital identity solutions.

We know how important fintechs and technology partners are for delivering better outcomes for our customers and this investment represents another step forward in our plans to strengthen the UK’s financial ecosystem and is a crucial part of how we help Britain prosper.”
Robin Tombs
Robin Tombs, CEO at Yoti said,
“I’m delighted to announce Lloyds Banking Group’s significant investment in Yoti. The combination of their expertise in financial services and our digital identity solutions will bring security to even more businesses, people and communities.

We will make it easier and safer for individuals to prove who they are and enable businesses to have more trust and confidence in the identity of their customers.”

]]></description><link>https://fintechnews.eu/lloyds-invests-10million-in-digital-id-firm-yoti</link><guid>3105</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Lloyds Invests £10Million in Digital ID Firm Yoti</dc:text></item><item><title>German Fintech tidely Secures EUR 3.5 Million in Fundraise Led by TX Ventures</title><description><![CDATA[tidely, a German-based liquidity management solution provider for SMEs, announced that it has raised EUR 3.5 million in a funding round led by fintech investor TX Ventures. The round was also joined by Bayernkapital.
tidely was founded in 2018 by Niclas Storz and Dr. Jörg Haller. The company offers a range of financial solutions to SMEs, including liquidity planning, cash flow analysis, cost management and more.





   



    
   


   








Niclas Storz
Niclas Storz, Founder and CEO of tidely said,
“We are very proud to have gained the trust of TX Ventures and Bayernkapital in these exceptionally difficult times.

This funding will enable us to make our vision of a modern, comprehensive and user-friendly liquidity management platform accessible to even more customers in the SME environment.”
Jens Schleuniger, Managing Partner at TX Ventures said,
Jens Schleuniger
“In addition to the highly experienced and complementary management team, we were particularly convinced by tidely’s strong customer focus as well as its traction – we are therefore very pleased to be part of the funding round.

Interviews with customers and partners have shown us that tidely provides significant value to its customers. We are therefore highly confident that the team will continue to strongly expand its customer base and to remain on its dynamic growth trajectory”.


]]></description><link>https://fintechnews.eu/german-fintech-tidely-secures-eur-35-million-in-fundraise-led-by-tx-ventures</link><guid>3106</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>German Fintech tidely Secures EUR 3.5 Million in Fundraise Led by TX Ventures</dc:text></item><item><title>Mercedes Drivers Pay Now with Fingerprint</title><description><![CDATA[Since March, Mercedes-Benz customers in Germany are able to authenticate payments via an in-car fingerprint sensor. With the new digital payment service Mercedes pay+, Mercedes-Benz introduces native in-car payments.
With native in-car payments, the vehicle itself now enables biometric two-factor authentication in conjunction with the fingerprint sensor. It is no longer necessary to type in a PIN on the MBUX infotainment system or to use an additional mobile device such as a smartphone to verify a payment in the car. Instead, the car itself turns into a payment device.
The first Mercedes-Benz models available with fingerprint sensors are the EQS and EQE series, the Mercedes-Benz S-Class and C-Class, and the new GLC. Mercedes-Benz is the first car manufacturer worldwide to integrate Visa’s Delegated Authentication and Cloud Token Framework technology to enable native in-car payments. Visa Cloud Tokens provide an additional layer of security as they help to protect and encrypt sensitive payment information by converting data and storing it securely.




   



    
   


   








Upgrade of digital services and on-demand functions with one touch
Customers can use native in-car payment to pay for digital services that allow a more convenient and entertaining driving experience. They can activate and subscribe to these digital services from the car’s MBUX infotainment system and authorise the payment transaction with their fingerprint. Examples of these digital services are connectivity apps that control comfort functions of the car, such as pre-air conditioning of the vehicle via a mobile device. Upgrades to the vehicle software can easily be activated and paid for via fingerprint, like, for example, advanced navigation services that provide information on the weather or available parking spaces at customer’s destination.
In addition, the Mercedes me Store offers the ability to unlock pre-installed hardware components easily on-demand by fingerprint in the car. For example, a vehicle owner can subscribe to the Remote Parking Assist, a service to park the vehicle remotely with a smartphone, or activate and pay for the Adaptive Highbeam Assist or the Rear Axle Steering with larger steering angle with only one touch.
The portfolio of digital services and on-demand features in the Mercedes me Store is constantly expanding, offering customers the opportunity to personalise their vehicles further even after the purchase. This is of interest, for example, to the second or third owners of a vehicle as it gives them the opportunity to adapt pre-owned vehicles to personal needs and desires.
Cardholders with an eligible Visa credit or debit card can use native in-car payment by linking their card with their Mercedes me user account and activating Mercedes pay+ in the vehicle via MBUX. Subsequently, more card systems will be added and enabled for Mercedes pay+. Mercedes-Benz plans to launch Mercedes pay+ in other European markets in 2023.
Paying for car-related services will become even easier and more convenient
The option of native in-car payments will be expanded to other car-related services, such as fuelling. Mercedes-Benz drivers in Germany and other markets can already pay for fuelling directly from the car via the Mercedes me app and a smartphone or via the MBUX infotainment system using a PIN. The introduction of native in-car payments and the easy payment authorisation by fingerprint in the car will make this process more seamless and convenient later this year.
Mercedes-Benz already offers payment for charging of electric vehicles for years via the Mercedes me connect service Mercedes me Charge. At the charging station, authentication takes place via the display in the MBUX multimedia system, the Mercedes me App, the Mercedes me Charge card or directly via Plug &amp; Charge.
Franz Reiner
“Mercedes-Benz becomes a software-driven company that provides a digital, seamless experience to customers. Therefore, our digital services have to be intuitive, convenient and secure. This is why we have established Mercedes pay+ as a modern and secure payment solution. As such, we are creating a completely new, enhanced customer experience. By introducing native e-commerce into the car, we are once again pioneers and at the beginning of a promising development.”
Franz Reiner, CEO at Mercedes-Benz Mobility
In future Mercedes-Benz Leasing Deutschland will enable money transfers in the Mercedes-Benz ecosystem for the German market as a licensed entity, including payments made in the car.
Global transaction volume for in-vehicle payments expected to exceed 4.7 billion by 2026
A study by Juniper Research revealed that the global transaction volume of in-vehicle payments will be expected to reach more than 4.7 billion by 2026. Paying for fuel will be the most common use for in-vehicle payments over the next five years; accounting for around 48 percent of total in-vehicle payment transactions by volume. This growth is regarded as the next step in a natural progress of payment methods regarding fuel purchases, which evolved from cash to card, then to smartphone payments, and now to in-car payments.
Customers consider increased convenience and ease in their daily life as the greatest advantage of in-car payments, as the current international market study “Global Trends in Automotive &amp; Financial Services 2022“ shows. More than half of the potential users in Germany see in-car payment as a brand’s significant competitive advantage compared to other market participants.
Albrecht Kiel
“Innovating with partners, Visa can unlock the possibilities that connected devices might bring to commerce. Making your car a secure and fully authenticated payment device brings new ways to enhance journeys and looking ahead, we can imagine many moments where in-car payments could smoothen the driver experience. Visa brings its technology and expertise in Germany and worldwide to make payments reliable, secure and convenient as this and many other new ways to pay become a reality.”
Albrecht Kiel, Regional Managing Director, Central Europe, at Visa
]]></description><link>https://fintechnews.eu/mercedes-drivers-pay-now-with-fingerprint</link><guid>3104</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Mercedes Drivers Pay Now with Fingerprint</dc:text></item><item><title>Mercedes Drivers Can Now Authenticate Payments With Fingerprint Sensor</title><description><![CDATA[Since March, Mercedes-Benz customers in Germany are able to authenticate payments via an in-car fingerprint sensor. With the new digital payment service Mercedes pay+, Mercedes-Benz introduces native in-car payments.
With native in-car payments, the vehicle itself now enables biometric two-factor authentication in conjunction with the fingerprint sensor. It is no longer necessary to type in a PIN on the MBUX infotainment system or to use an additional mobile device such as a smartphone to verify a payment in the car. Instead, the car itself turns into a payment device.
The first Mercedes-Benz models available with fingerprint sensors are the EQS and EQE series, the Mercedes-Benz S-Class and C-Class, and the new GLC. Mercedes-Benz is the first car manufacturer worldwide to integrate Visa’s Delegated Authentication and Cloud Token Framework technology to enable native in-car payments. Visa Cloud Tokens provide an additional layer of security as they help to protect and encrypt sensitive payment information by converting data and storing it securely.




   



    
   


   








Upgrade of digital services and on-demand functions with one touch
Customers can use native in-car payment to pay for digital services that allow a more convenient and entertaining driving experience. They can activate and subscribe to these digital services from the car’s MBUX infotainment system and authorise the payment transaction with their fingerprint. Examples of these digital services are connectivity apps that control comfort functions of the car, such as pre-air conditioning of the vehicle via a mobile device. Upgrades to the vehicle software can easily be activated and paid for via fingerprint, like, for example, advanced navigation services that provide information on the weather or available parking spaces at customer’s destination.
In addition, the Mercedes me Store offers the ability to unlock pre-installed hardware components easily on-demand by fingerprint in the car. For example, a vehicle owner can subscribe to the Remote Parking Assist, a service to park the vehicle remotely with a smartphone, or activate and pay for the Adaptive Highbeam Assist or the Rear Axle Steering with larger steering angle with only one touch.
The portfolio of digital services and on-demand features in the Mercedes me Store is constantly expanding, offering customers the opportunity to personalise their vehicles further even after the purchase. This is of interest, for example, to the second or third owners of a vehicle as it gives them the opportunity to adapt pre-owned vehicles to personal needs and desires.
Cardholders with an eligible Visa credit or debit card can use native in-car payment by linking their card with their Mercedes me user account and activating Mercedes pay+ in the vehicle via MBUX. Subsequently, more card systems will be added and enabled for Mercedes pay+. Mercedes-Benz plans to launch Mercedes pay+ in other European markets in 2023.
Paying for car-related services will become even easier and more convenient
The option of native in-car payments will be expanded to other car-related services, such as fuelling. Mercedes-Benz drivers in Germany and other markets can already pay for fuelling directly from the car via the Mercedes me app and a smartphone or via the MBUX infotainment system using a PIN. The introduction of native in-car payments and the easy payment authorisation by fingerprint in the car will make this process more seamless and convenient later this year.
Mercedes-Benz already offers payment for charging of electric vehicles for years via the Mercedes me connect service Mercedes me Charge. At the charging station, authentication takes place via the display in the MBUX multimedia system, the Mercedes me App, the Mercedes me Charge card or directly via Plug &amp; Charge.
Franz Reiner
“Mercedes-Benz becomes a software-driven company that provides a digital, seamless experience to customers. Therefore, our digital services have to be intuitive, convenient and secure. This is why we have established Mercedes pay+ as a modern and secure payment solution. As such, we are creating a completely new, enhanced customer experience. By introducing native e-commerce into the car, we are once again pioneers and at the beginning of a promising development.”
Franz Reiner, CEO at Mercedes-Benz Mobility
In future Mercedes-Benz Leasing Deutschland will enable money transfers in the Mercedes-Benz ecosystem for the German market as a licensed entity, including payments made in the car.
Global transaction volume for in-vehicle payments expected to exceed 4.7 billion by 2026
A study by Juniper Research revealed that the global transaction volume of in-vehicle payments will be expected to reach more than 4.7 billion by 2026. Paying for fuel will be the most common use for in-vehicle payments over the next five years; accounting for around 48 percent of total in-vehicle payment transactions by volume. This growth is regarded as the next step in a natural progress of payment methods regarding fuel purchases, which evolved from cash to card, then to smartphone payments, and now to in-car payments.
Customers consider increased convenience and ease in their daily life as the greatest advantage of in-car payments, as the current international market study “Global Trends in Automotive &amp; Financial Services 2022“ shows. More than half of the potential users in Germany see in-car payment as a brand’s significant competitive advantage compared to other market participants.
Albrecht Kiel
“Innovating with partners, Visa can unlock the possibilities that connected devices might bring to commerce. Making your car a secure and fully authenticated payment device brings new ways to enhance journeys and looking ahead, we can imagine many moments where in-car payments could smoothen the driver experience. Visa brings its technology and expertise in Germany and worldwide to make payments reliable, secure and convenient as this and many other new ways to pay become a reality.”
Albrecht Kiel, Regional Managing Director, Central Europe, at Visa
]]></description><link>https://fintechnews.eu/mercedes-drivers-can-now-authenticate-payments-with-fingerprint-sensor</link><guid>3108</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Mercedes Drivers Can Now Authenticate Payments With Fingerprint Sensor</dc:text></item><item><title>Gründung der Swiss Metaverse Association</title><description><![CDATA[Das Ziel dieses jüngst in Bern gegründeten Vereins ist es, ein breit abgestütztes Metaverse-Ökosystem zu schaffen und sich für attraktive Rahmenbedingungen in der Schweiz einzusetzen, so dass neue Geschäftsmodelle, Firmen und Arbeitsplätze entstehen können. Präsidiert wird die Swiss Metaverse Association von Tina Balzli, Partner und Leiterin der Fintech &amp; Blockchain Abteilung bei CMS, und Alexandra Hofer, Senior Consultant bei furrerhugi.

Rebecca Balzli
«Mit diesem Verein schaffen wir wichtige Grundlagen, um die Schweiz als innovativen und zukunftsgerichteten Standort zu positionieren, der Metaverse-Projekte ermöglicht. Als Verein vernetzen wir die relevanten Akteure, initiieren Projekte und fördern den Dialog und die Aufklärung»,
sagt die frisch gewählte Co-Präsidentin, Tina Balzli.
Grosses Bedürfnis, sich über das Metaverse auszutauschen
Die Vereinsgründung wurde gemeinsam von Lorenz Furrer, Managing Partner bei furrerhugi, und Daniel Diemers, Partner bei SNGLR Group, initiiert. Daniel Diemers sitzt ebenfalls im Vorstand der Swiss Metaverse Association. Zu den 45 Gründungsmitgliedern zählen Organisationen, Banken, internationale Unternehmen, Startups, Universitäten, Verbände und Einzelpersonen. In den vergangenen Treffen mit den Gründungsmitgliedern hat sich gezeigt, dass das Metaversum viele Möglichkeiten und Chancen eröffnet, aber auch Fragen und Herausforderungen mit sich bringt entsprechend ist das Bedürfnis der Mitglieder, sich auszutauschen und interessanten Fragestellungen nachzugehenn, sehr gross.




   



    
   


   








Fragestellungen rund um das Metaverse proaktiv angehen
Im Rahmen der Swiss Metaverse Association sind diverse Veranstaltungen geplant, ausserdem werden zurzeit Arbeitsgruppen formiert, die spezifische Fragestellungen und Themen bearbeiten werden. Zu den Prioritäten gehören aktuell folgende Themen: Steuern, das Industrielle Metaverse, Regulierung, Kunst und Kultur, Forschung und Bildung, Versicherung und Banking, Technologie und Infrastruktur, Health sowie Tourismus und Sport Darüber hinaus wird ein White Paper verfasst sowie eine Swiss Metaverse Ecosystem Map erstellt.
Dr. Daniel Diemers
Vorstandsmitglied Daniel Diemers, Head Expert Tribe, erklärt:
“Wir wollen zusammen lernen, Ideen entwickeln, Synergien finden, die Herausforderungen und Chancen des Metaversums ausarbeiten und so dafür sorgen, dass die Schweiz zu einem der attraktivsten und besten Metaverse-Standorte der Welt wird.»



]]></description><link>https://fintechnews.eu/grundung-der-swiss-metaverse-association</link><guid>3103</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Gründung der Swiss Metaverse Association</dc:text></item><item><title>Worldline Launches Solution to Help Companies Enter the Metaverse</title><description><![CDATA[French payments company Worldline is launching a white-label solution for companies to enter into the Metaverse without any prior experience.
This white-label solution is suitable for any company developing a Metaverse strategy and looking for a cost-effective way to get started.
Worldline had launched a new shopping mall in Decentraland, a blockchain-enabled metaverse game, in March with the first 9 stores, including the German direct bank Consorsbank, The Chedi Andermatt, a Swiss luxury hotel, and Naked Life, a non-alcoholic spirits brand from Australia.




   



    
   


   








In the Worldline Shopping Mall, retailers, service providers and banks can build up a presence in Web 3.0 in a simple and modular way to test how their own community reacts to it and how the potential of the Metaverse can be tapped into.
The starter package offers store tenants the proven Worldline payment function – with or without cryptocurrencies – as well as advertising services.
Optional add-on packages – including Target Advertising, Phygital Products and Augmented Reality – help stores and products achieve greater visibility and create an innovative customer experience.
Sascha Münger
Sascha Münger, Metaverse Expert at Worldline said,
“We believe that the Metaverse, alongside stationary point of sale and e-commerce, is the sales channel of the future. The decision to open the Worldline Shopping Mall reflects this vision.

For well-known brands in particular, our virtual shopping mall offers an ideal precondition for venturing into the Metaverse with a clear conscience at low cost.”
]]></description><link>https://fintechnews.eu/worldline-launches-solution-to-help-companies-enter-the-metaverse</link><guid>3102</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Worldline Launches Solution to Help Companies Enter the Metaverse</dc:text></item><item><title>Tenity Partners With UBS to Invest in 400 Early Stage Fintechs</title><description><![CDATA[Tenity, Swiss innovation ecosystem formerly known as F10, announced that UBS is now one of its preferred global strategic banking partner.
Through this partnership, UBS will have access to Tenity’s global ecosystem of innovative early stage fintechs – beyond its own existing fintech network.
With Tenity’s global and local programmes, as well as the cross-industry platforms and events of all Tenity hubs, UBS will benefit from a comprehensive transfer of knowledge around innovation and the latest digital trends.




   



    
   


   








The bank is already working together with tech giants, fintechs, networks and universities on various topics.
Additionally, UBS Next, the bank’s global venture and innovation unit, is also investing in the Tenity Incubation Fund to invest in up to 400 new companies to promote innovation in the fintech sector.
Tenity is a startup incubator and accelerator with an integrated investment arm focused on early-stage fintechs and insurtechs. More than 250 companies have participated in Tenity programmes so far.
Sabine Keller-Busse
“Digitalisation is the key to future-oriented banking. The partnership with Tenity gives us the opportunity to expand our fintech network and align innovative ideas and solutions at an early stage, specifically tailored to the needs of our clients in Switzerland. We look forward to working with Tenity,”
said Sabine Keller-Busse, President of UBS Switzerland.

Andreas Iten
“The success of our ecosystem depends to a large extent on the innovative capacity of the participants. That we were able to win over UBS as a global strategic partner for banking makes us very proud and will help our current and future portfolio companies bring even more innovation to this important industry,”
said Andreas Iten, CEO and Co-Founder of Tenity.

]]></description><link>https://fintechnews.eu/tenity-partners-with-ubs-to-invest-in-400-early-stage-fintechs</link><guid>3101</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Tenity Partners With UBS to Invest in 400 Early Stage Fintechs</dc:text></item><item><title>Shift Crypto und Pocket Bitcoin verkünden langfristige Partnerschaft</title><description><![CDATA[Shift Crypto, der Schweizer Hardware-Wallet-Hersteller, geht eine Partnerschaft mit Pocket Bitcoin ein.
Pocket Bitcoin ist ein Schweizer Bitcoin-Broker, der die einfachste Möglichkeit bietet, Bitcoin direkt auf die eigene Wallet zu stacken. Beide Unternehmen haben ihren Sitz in der Schweiz und verfolgen das gemeinsame Ziel, den Zugang zu und die Verwahrung von Bitcoin einfacher und sicherer zu machen.
Die Unternehmen arbeiten zusammen, um eine günstigere, noch einfachere und sicherere Möglichkeit zu bieten, regelmäßig Bitcoin zu kaufen. Pocket Bitcoin bietet bereits einen einfachen DCA-Service an. Die Hardware-Wallet BitBox02 ermöglicht es Nutzern, Bitcoin sicher aufzubewahren und einfach zu transferieren. Ihr Code ist vollständig quelloffen, einschließlich der dazugehörigen BitBoxApp, die ab heute das Widget von Pocket Bitcoin integriert, damit Investoren Bitcoin direkt auf ihre Hardware-Wallet kaufen können.




   



    
   


   








David Knezić
“Unser Ziel bei Pocket Bitcoin ist es, den Kauf von Bitcoin so einfach wie möglich zu machen. Wir haben eine Möglichkeit für Kunden geschaffen, Bitcoin zu kaufen, ohne ein Konto eröffnen oder sich identifizieren zu müssen. Unsere Kunden erhalten ihre Bitcoin direkt auf ihre Wallet. Dafür gibt es keinen besseren Partner als Shift Crypto und wir freuen uns, mit ihnen zusammenzuarbeiten, um den Kauf und die Aufbewahrung von Bitcoin noch einfacher zu machen”,
sagt David Knezić, CEO und Mitgründer von Pocket Bitcoin.
Das neue Widget, das von Pocket Bitcoin entwickelt und in die BitBoxApp integriert wurde, bietet einen günstigen Service für europäische Kunden mit der Möglichkeit, per Banküberweisung mit einer Gebühr von 1,5 % Bitcoin zu kaufen. Pocket Bitcoin bietet BitBox-Nutzern zusätzliche Vorteile, wie z. B. schnelles automatisches Dollar-Cost Averaging (DCA). Über das neue Widget können Nutzer jetzt ganz einfach einen Dauerauftrag einrichten und von DCA profitieren, ohne umfangreiche KYC-Prozesse durchlaufen zu müssen. Für Aufträge bis zu 950 € pro Tag ist keine Verifizierung erforderlich.
Außerdem können Nutzer neben einer einzigen Bitcoin-Adresse auch ihren XPub, d. h. alle Bitcoin-Adressen ihres Kontos, teilen. Auf diese Weise werden ihre Bitcoin immer an neue, unbenutzte Bitcoin-Adressen ausgezahlt. Diese äußerst wünschenswerte Funktion ist besonders für Nutzer attraktiv, die regelmäßig Bitcoin stacken und mehr Privatsphäre gegenüber dem Bitcoin-Netzwerk bewahren wollen.
Durch die Verwendung von kryptografisch signierten Adressen und die Überprüfung der Adresse auf einem zweiten Gerät können BitBox-Nutzer sicherstellen, dass die Bitcoin-Adresse, an die Pocket Bitcoin auszahlt, auch wirklich ihre ist. Das Verfahren selbst ist dabei so einfach, dass die Nutzer keine Adressen kopieren und einfügen müssen.
Douglas Bakkum
“Wir bei Shift Crypto glauben, dass jeder Mensch finanzielle Souveränität verdient. In unserer Vision beginnt das mit der optimalen Sicherheit, die eine Hardware-Wallet bietet. Durch die Zusammenarbeit mit Pocket Bitcoin wird dies fortgesetzt, indem wir es Einzelpersonen ermöglichen, Bitcoin direkt in der BitBoxApp zu erwerben und dabei jederzeit die volle Kontrolle zu behalten. Wir freuen uns, mit Pocket Bitcoin zusammenzuarbeiten, einem Unternehmen, das unsere Werte von Selbstverwahrung und finanzieller Souveränität teilt.”
Douglas Bakkum, CEO und Mitbegründer von Shift Crypto.
Um ihre Partnerschaft zu feiern, bieten die beiden Unternehmen bis zum 15. März 2023 einen Bonus von 10 000 Satoshi auf alle erstmaligen Transaktionen über die neue BitBoxApp-Integration an.

Disclaimer/Haftungs-Ausschluss: Hier handelt es sich um einen Sponsored Post von Shift Crypto und Pocket Bitcoin nicht um einen Artikel von Fintechnews.ch. Es handelt sich hier weder um eine Anlageberatung noch um eine konkrete Handlungsempfehlung.
]]></description><link>https://fintechnews.eu/shift-crypto-und-pocket-bitcoin-verkunden-langfristige-partnerschaft</link><guid>3100</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Shift Crypto und Pocket Bitcoin verkünden langfristige Partnerschaft</dc:text></item><item><title>Finance Companies Ramp Up AI Deployment</title><description><![CDATA[In the financial services industry, banks, insurers, asset managers and fintech companies are increasing the speed at which they deploy artificial intelligence (AI)-enabled applications, confident that AI will help them assess risk more accurately, enable operational efficiencies, and reduce costs, results from a new study by American tech firm Nvidia show.
The 2023 State of AI in Financial Services report, released on February 02, 2023, draws on a survey of nearly 500 global financial services professionals that sought to understand AI trends in the sector, as well as the opportunities perceived and challenges faced by the industry.
Results from the study show that the adoption of AI in the finance sector is accelerating at a fast pace, with over half of the respondents indicating having deployed three or more of the 21 different AI-enabled use cases analyzed by the survey. A fifth of respondents said they had six or more use cases in market.




   



    
   


   








Number of use cases per respondent (excluding China), Source: State of AI in Financial Services, Nvidia, Feb 2023
Accelerated adoption of AI in the sector comes on the back of increased awareness of the imperative among executive leadership teams. This year, 64% of respondents agreed that their executive leadership “values and believes in AI”, a figure which represents an increase of 78% year-over-year (YoY). More respondents also indicated that their leadership view AI as an important factor to their company’s future success, a proportion which stands at 58% this year, compared with 39% in 2022.
How much do you disagree or agree with the following?, Source: State of AI in Financial Services, Nvidia, Feb 2023
Top AI use cases
Findings also show that finance professionals are now applying AI in a wide range of use cases, with ten of the 21 use cases studied being utilized by over 20% of the respondents’ companies.
These applications are natural language processing (NLP) and large language models (LLMs) (26%), recommender systems and next-best action (23%), portfolio optimization (23%), fraud detection in transactions and payments (22%), fraud detection for anti-money laundering and know-your-customer (AML/KYC) (22%), algorithmic trading (21%), conversational AI (20%), marketing optimization (20%) and creating synthetic data for model creation/optimization (20%).
Interestingly, 12% of respondents said their company have deployed AI-enabled applications for use cases relating to the metaverse and virtual worlds with aspirations to explore opportunities relating to employee training, new employee onboarding, retail branch simulation and insurance risk evaluations.
Top AI use cases in financial services (excluding China), Source: State of AI in Financial Services, Nvidia, Feb 2023
Companies that have deployed AI applications into production said the technology has brought them real benefits, including improved productivity and cost savings. In fact, 35% of respondents said these applications have created operational efficiencies, and 20% said they have reduced the total cost of ownership. When asked about how much their companies saved, 36% indicated AI-enabled applications have helped decrease annual costs by more than 10%.
Investing in AI have also brought benefits that extend beyond financial impact, the survey found, including improved customer experiences, new business opportunities, and more accurate models.
How has AI improved your business operations?, Source: State of AI in Financial Services, Nvidia, Feb 2023
AI is already widespread in Switzerland
Results of the Nvidia survey are consistent with those found by other similar studies. A new report by consultancy Deloitte, which focused on the Swiss market, shares findings from a survey of companies in various industries, including consumer, financial services and life sciences, and found that AI is now widespread in the country. Almost 90% of the Swiss executives surveyed stated that they are aware of AI initiatives in their company with almost half of these being in the finance function.
Are you aware of ongoing or completed AI initiatives/projects in your company?, Source: Finance Innovation Survey 2023, Deloitte, 2023
The deployment of AI solutions is also well underway, with 75% of respondents indicating that AI solutions are being implemented.
Has any AI solution already been implemented in your company?, Source: Finance Innovation Survey 2023, Deloitte, 2023
The study, which also looked at the adoption of other technologies, found that cloud computing (42.3%), interactive data visualization (41.4%) and data science (37%) are currently the most used digital technologies in the finance sector. These technologies are set to still be leaders in the next two years, though particularly large gains are also expected in AI, advanced analytics and robotic process automation (RPA).
In general, which of the following technologies have you used in your finance organisation 2 years ago, or use today or expect to use in 2 years’ time?, Source: Finance Innovation Survey 2023, Deloitte, 2023
The rise of generative AI
AI has been a hot topic of discussion in the business community since the release of AI-powered chatbot ChatGPT in November 2021. The tool, which became the fastest-growing consumer app in history when it surged past the 100 million monthly active users mark in January 2023, is praised by industry experts for its ability to accurately answer questions, mimic human language and complete a wide range of tasks.
ChatGPT sparked a frenzy in the tech community and prompted most industry leaders to ramp up AI development. In fintech, a number of industry stakeholders are already speculating on the potential of generative AI – the form of AI which ChatGPT relies on that’s capable of creating new content, including text, audio and images – in the sector.
Sarah Hinkfuss, a partner at Bain Capital Ventures, authored a recent article that provides a deep dive into the subject, arguing that the most impactful usage of generative AI will be as tools built into desired products or software workflows.
Prominent examples include auto-generated personal loan offers with custom messaging based on contextual information about a particular customer; auto-generated insurance application forms based on data and information provided in previous applications submitted; AI-powered chatbots for 24/7 customer service and support; as well as forecasting and risk identification.
Venture capital (VC) investment in generative AI increased nearly 500% between 2020 and 2022 to US$1.37 billion, data from Pitchbook show. The VC funding frenzy is expected to carry on this year, with already a number of notable deals being announced in Q1 2023. Anthropic, an AI company that’s testing a rival to ChatGPT called Claude, received a US$400 million investment from Google in February; Cohere, another competing generative AI startup, is reportedly in talks to raise hundreds of millions of dollars in funding; and OpenAI, the research lab behind ChatGPT, inked a US$10 billion deal with Microsoft in January.
Generative AI funding rounds, Source: Pitchbook, Dec 2022
Though the generative AI space remains nascent, business analytics platform and global database CB Insights has identified more than 250 companies in the sector.
OpenAI is currently the biggest player with a US$29 billion valuation, followed by Hugging Face (US$2 billion), Lightricks (US$1.8 billion), Jasper (US$1.5 billion), Glean (US$1 billion), and Stability AI (US$1 billion).

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/finance-companies-ramp-up-ai-deployment</link><guid>3098</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Finance Companies Ramp Up AI Deployment</dc:text></item><item><title>UBS Next and Goldman Sachs Invest into Regtech Company Droit</title><description><![CDATA[Droit, a New York based technology firm at the forefront of computational law and regulation, announced it has closed a $23 million Series B investment in its latest funding round.
The round was led by Pivot Investment Partners and UBS through its venture and innovation unit UBS Next. Goldman Sachs, an existing investor, is also participating in the financing round.
Since its founding in late 2012, Droit has established itself as a technology provider advancing global regulatory compliance in the capital markets space, with its patented Adept platform now used by the world’s largest financial institutions for pre- and post-trade decision-making and auditability.




   



    
   


   








The investment will support Droit’s expansion into wealth management through the development of new products specifically for the sector, including Cross Border and Product Suitability. This natural extension of the Adept platform for use in wealth management will allow financial institutions to benefit from the same transparent decision-making infrastructure deployed for capital markets. The investment will also support Droit’s expansion of new and existing products, including Position Reporting, Transaction Reporting, advancements in Droit’s Pre-Trade product suite, and the build-out of new cloud-based services.
Brock Arnason
“This year marked Droit’s 10-year anniversary and we greatly appreciate the support from our investors and their confidence in our future success. This funding will enable us to accelerate the innovation of our new product lines,”
said Brock Arnason, Founder and Chief Executive Officer of Droit.
“We are also excited to join UBS Next’s portfolio of fintech companies and look forward to partnering with them on building out our wealth management capabilities.”
Mike Dargan
“We believe Droit’s capabilities will help companies unlock potential revenue streams by simplifying and driving real-time regulatory compliance,”
said Mike Dargan, Chief Digital &amp; Information Officer, UBS.
“Through this investment, we will work with Droit to build out their product offering to support the industry and look forward to extending our relationship with them across our wealth management business.”
This funding round comes at a period of strong growth for Droit. Over the past two years, Droit commercialized four new product lines and increased its headcount by nearly 70 percent, adding key leadership roles in business development and technology. Droit also expanded its global footprint establishing a presence in Singapore to support existing clients and build new relationships in the region.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/ubs-next-and-goldman-sachs-invest-into-regtech-company-droit</link><guid>3097</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>UBS Next and Goldman Sachs Invest into Regtech Company Droit</dc:text></item><item><title>UBS and Goldman Sachs Invest into Regtech Company Droit</title><description><![CDATA[Droit, a New York based technology firm at the forefront of computational law and regulation, announced it has closed a $23 million Series B investment in its latest funding round.
The round was led by Pivot Investment Partners and UBS through its venture and innovation unit UBS Next. Goldman Sachs, an existing investor, is also participating in the financing round.
Since its founding in late 2012, Droit has established itself as a technology provider advancing global regulatory compliance in the capital markets space, with its patented Adept platform now used by the world’s largest financial institutions for pre- and post-trade decision-making and auditability.




   



    
   


   








The investment will support Droit’s expansion into wealth management through the development of new products specifically for the sector, including Cross Border and Product Suitability. This natural extension of the Adept platform for use in wealth management will allow financial institutions to benefit from the same transparent decision-making infrastructure deployed for capital markets. The investment will also support Droit’s expansion of new and existing products, including Position Reporting, Transaction Reporting, advancements in Droit’s Pre-Trade product suite, and the build-out of new cloud-based services.
Brock Arnason
“This year marked Droit’s 10-year anniversary and we greatly appreciate the support from our investors and their confidence in our future success. This funding will enable us to accelerate the innovation of our new product lines,”
said Brock Arnason, Founder and Chief Executive Officer of Droit.
“We are also excited to join UBS Next’s portfolio of fintech companies and look forward to partnering with them on building out our wealth management capabilities.”
Mike Dargan
“We believe Droit’s capabilities will help companies unlock potential revenue streams by simplifying and driving real-time regulatory compliance,”
said Mike Dargan, Chief Digital &amp; Information Officer, UBS.
“Through this investment, we will work with Droit to build out their product offering to support the industry and look forward to extending our relationship with them across our wealth management business.”
This funding round comes at a period of strong growth for Droit. Over the past two years, Droit commercialized four new product lines and increased its headcount by nearly 70 percent, adding key leadership roles in business development and technology. Droit also expanded its global footprint establishing a presence in Singapore to support existing clients and build new relationships in the region.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/ubs-and-goldman-sachs-invest-into-regtech-company-droit</link><guid>3099</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>UBS and Goldman Sachs Invest into Regtech Company Droit</dc:text></item><item><title>St. Galler Kantonalbank mit neuem digitalen Kunden-Onboarding</title><description><![CDATA[Wer will, kann neu in maximal in einer Viertelstunde Kundin oder Kunde der St.Galler Kantonalbank (SGKB) werden, teil die Bank mit. Der neue digitale Eröffnungsprozess ist einfach, verständlich und zu jeder Zeit möglich.
Nils Reimelt
«Das Angebot ist von A bis Z digital. Neben der Identifikation können auch die Verträge online gelesen und digital mit einem SMS-Code signiert werden»,
sagt Nils Reimelt, Leiter Digital Banking der SGKB.
Egal ob Geschäftskonto, Privatkonto oder Gemeinschaftskonto: Mit dem neuen digitalen Eröffnungsprozess können Interessierte in wenigen Minuten Kunde oder Kundin der St.Galler Kantonalbank werden. Bei der Eröffnung werden zielgruppengerecht Produktesets angeboten. Basis dieser Sets sind jeweils ein Konto, eine Bankkarte, das E-Banking oder das Mobile Banking.




   



    
   


   








«So haben unsere Kundinnen und Kunden von Anfang an die für ihren Alltag notwendigenBankprodukte»,
sagt Reimelt. Ausserdem stehen weitere Produkte und Dienstleitung wie SGKB Twint oder die digitale Spar-App HäshCash zur Auswahl.
«Wer will, kann auch eine Kreditkarte oder eine Prepaidkarte bestellen»,
so Reimelt.
Einfach, verständlich und jederzeit möglich
Die Identifikation kann auf zwei Arten erfolgen. Personen mit einem Schweizer Reisepass können sich dank der neuen Online-Identifikation selbständig identifizieren – das rund um die Uhr. Alle anderen Personen mit einem Wohnsitz in der Schweiz können sich wie bisher im Rahmen eines geführten Video-Calls identifizieren lassen. Dieses Angebot steht jeweils von Montag bis Samstag zwischen 7 und 24 Uhr zur Verfügung. Neben der Identifikation, können auch die Verträge online gelesen und digital mit einem SMS-Code signiert werden. Ist der Eröffnungsprozess abgeschlossen, erhalten die neuen Kundinnen und Kunden ihre IBAN-Nummer – alle weiteren Produkte und Dienstleistungen werden automatisch im Nachgang eröffnet.
Gemeinsam mit der Community entwickelt
Die Digitalisierung im Bankensektor geht schnell voran, die Erwartungen der Kundschaft in diesem Bereich sind entsprechend hoch.
Deshalb hat die Bank bei der Entwicklung des Angebots die Bedürfnisse der Kundschaft konsequent ins Zentrum gestellt und von Anfang die eigene Community eingebunden. Dank den Rückmeldungen und den Benutzer-Tests habe sie einen digitalen Eröffnungsprozess kreieren können, der Interessierte schnell und einfach zur Kundin oder zum Kunden macht.
]]></description><link>https://fintechnews.eu/st-galler-kantonalbank-mit-neuem-digitalen-kunden-onboarding</link><guid>3095</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>St. Galler Kantonalbank mit neuem digitalen Kunden-Onboarding</dc:text></item><item><title>DACH: Fintech Trends to Look out for in 2023</title><description><![CDATA[Germany, Austria and Switzerland, also referred to as the DACH region, have been proponents of fintech in Europe from the beginning, an early support that has enabled the region to establish one of the world’s most vibrant and dynamic fintech ecosystems.
In 2021, fintech research and analytics firm Findexable named Switzerland the fifth biggest fintech hub in the world, and Germany, the 9th largest. The 2021 Global Fintech Ranking, which considered a location’s density of fintech companies and accelerators, payments ecosystems and the ease of doing business, also placed Berlin, Zurich and Hamburg among the world’s top 30 most prominent fintech cities in the world, ahead of locations including Seoul, Paris, Dubai and Shenzhen.
DACH’s fintech cities, Source: Findexable/Mambu, Aug 2022
According to a separate August 2022 by Finexable in partnership with German software-as-a-service (SaaS) cloud banking platform Mambu, the growth of DACH’s fintech industry has been enabled by the region’s advanced technical infrastructure, strong human capital and longstanding banking and asset management industries, which have provide both sources of capital and huge client bases and problems to solve.




   



    
   


   








DACH countries account for just 13% of Europe’s population, but a fifth of its software developers, the report says. Germany, meanwhile, accounts for twice as many patent applications a year than any other European country.
Number of professional developers by country, 2018, Source: Findexable/Mambu, Aug 2022
In 2022, DACH’s fintech ecosystem continued to grow and mature, on the back of increased consumer adoption, solid fintech funding activity and growing interest from strategic investors. This year, industry stakeholders and observers are expecting more innovations in burgeoning domains like climate/green fintech, an uptick in merger and acquisition (M&amp;A) transactions, as well as increased demand for embedded finance solutions.
Fintech funding activity remains strong
Despite a pullback in VC dealmaking, fintech funding in the DACH region remained strong in 2022, registering is second-best year to date, data from Pitchbook show.
As of November 2022, a total of 191 deals worth EUR 3.2 billion had been completed in the sector across Germany, Switzerland, Austria and Liechtenstein.
The figures fell short of 2021, which saw 230 rounds totaling EUR 4.5 billion, but nevertheless made fintech one of the region’s most active verticals for VC dealmaking by accounting for 9.2% of overall deal value and 7.5% of the region’s total number of rounds.
VC deal activity in DACH fintech, Source: Pitchbook, Nov 2022
Soaring fintech funding activity in DACH over the past years has pushed valuations to new heights. Currently, the region is home to eight fintech unicorns and all of them reached a US$1 billion and plus valuation within the past three years, data from CB Insights show.
Taxfix, Berlin’s digital tax accounting, is the latest company to join the club after securing a US$220 million Series D in April 2022 at a US$1 billion valuation.
DACH’s other fintech unicorns are German digital bank N26 (US$9.23 billion valuation), insurtech firm WeFox (US$4.5 billion), digital wealth manager Scalable Capital (US$1.4 billion), Berlin-based BaaS platform Solarisbank (US$1.65 billion), German neobroker Trade Republic (US$5.4 billion valuation), Swiss bitcoin vault Numbrs (US$1 billion), and Austria crypto exchange BitPanda (US$4.11 billion), data from CB Insights show.
Growing appetite for fintech investments
In 2022, strategic investors in the DACH region started accelerating their involvement in fintech and bolder in their investments and acquisitions, a trend that’s set to carry on in 2023, according to a September 2022 report by PwC.
A survey conducted as part of the report, found that, of the 30 bank executives interviewed, 45% of respondents in Switzerland and Liechtenstein had already invested in fintech. Moving forward, 38% of respondents indicated that they intended to invest in fintech over the next two years, showcasing the banking sector’s increasing appetite for fintech investments.
Appetite for fintech investments in the Swiss and Liechtenstein banking landscape, Source: PwC, 2022
For most banks, the main reasons they invested in a fintech company was to gain access to new technology (35%) or enter new market and business model (30%). Digital distribution (26%), blockchain and cryptocurrencies (22%) and data analytics (18%) were cited as the top capabilities they sought to develop through fintech investments.
Wealthtech and blockchain/crypto – two sectors that are capital-light and which promise high margins – were identified as the most attractive fintech verticals to invest in. Insurtech, lending and payments/billing were named as the least interesting vertical options.
Why do banks invest in fintech, Source: PwC, 2022
More market consolidation in 2023
Looking at fintech funding trends observed in DACH last year, PwC expects an ongoing or even improved deal flow in the course of 2023. The consultancy also predicts an uptick in M&amp;A transactions, a sentiment that’s shared by Yusuf Ozdalga, partner at QED Investors.
“I think all fintech sectors will see M&amp;A activity increase: payments, wealth management, lending, and neobanks, just to name a few,” Ozdalga told Sifted in a statement.
“The dynamics driving M&amp;A apply broadly — and while there are nuances across subsectors, the overarching theme of M&amp;A will be a constant.”
Nick Sando, principal at Octopus Ventures, noted that the BaaS vertical, in particular, was primed for consolidation in 2023.
“2021 saw a great deal of funding into the BaaS category,” Sando told the media outlet.
“Many of the BaaS providers have customer bases heavily skewed towards very early-stage fintech companies, some of which will likely continue to find it difficult to operate and raise in 2023. This will likely lead to increased customer churn and revenue per customer falling for some of the BaaS providers.”
The rise of green fintech
In 2022, funding to climate fintech companies reached a new high, totaling US$2.9 billion in VC raised by companies in the sector, data from CommerzVentures, the corporate venture capital (CVC) arm of Commerzbank in Germany, show. The sum represents more than double what was secured in 2021 (US$1.2 billion) and showcases accelerating investor appetite for the nascent sector.
In 2023, the momentum is set to carry on as new use cases and subsectors like biodiversity and natural capital emerge and gain traction, Paul Morgenthaler, managing partner at CommerzVentures, told Sifted in a recent interview.
“In addition to the climate crisis, we have a biodiversity crisis,” Morgenthaler said.
“We are seeing a lot of interesting new approaches for investing in natural capital and preserving biodiversity, and we expect some very successful companies to emerge in that space over time.”
These companies are tackling the “biodiversity crisis” and are introducing “new approaches for investing in natural capital and preserving biodiversity,” similarly to what startups in the carbon offsetting space have been doing with carbon credits, he said.
All in all, Morgenthaler expects the whole climate fintech sector to perform well in 2023, a sentiment that was echoed by Manuel Silva Martinez, general partner at Mouro Capital, who  told the media outlet that 2023 could very well be “the breakthrough year” for climate fintech.
“Up until now, we have been somewhat underwhelmed by this space … Perhaps 2023 is the year we’ll start seeing real businesses being built at the crossover of financial services and sustainability,” he said.
“So, less about analytics and environmental, social and governance (ESG) data reporting, and more about how sustainability is embedding into people’s lifestyles, from consumption to real estate or mobility.”
Crypto sector under regulatory scrutiny
The crypto industry faced a tough year 2022 amid a market meltdown and company collapses. For Magda Posluszny, senior associate at Lakestar, 2023 could mark the end of an era of unregulated crypto markets.
“What comes next is increased regulatory scrutiny, acceleration of regulatory frameworks across the world and growing demand for compliance solutions across the traditional finance and crypto sectors,” she told Sifted in a statement.
DACH is home to some of the world’s most dynamic crypto and blockchain ecosystems. In Switzerland, the canton of Zug has earned the nickname Crypto Valley for the high number of blockchain-based fintech companies based in the area. Separately, the Swiss city of Lugano unveiled last year plans to develop new infrastructure to adopt cryptocurrencies and allow residents to use crypto for everyday spending.
Germany, meanwhile, is considered one of the world’s pioneers in blockchain technology adoption. This early support has enabled the nation to become the largest blockchain hub in the whole European Union (EU). The EU Blockchain Observatory and Forum, a European Commission initiative to accelerate blockchain innovation and adoption, estimates that Germany is currently home to more than 340 blockchain solution providers and startups, surpassing Estonia with 200+ but behind the UK with 1,000+. The country also has one of the largest pools of blockchain talent in the EU with 4,600 professionals.
In Austria, though the blockchain scene is much smaller than the ones in Germany and Switzerland, the industry has grown considerably over the past years and has minted its first unicorn startup.
Local crypto exchange Bitpanda reached a US$1.2 billion valuation in 2021 after raising a US$170 million round. Th round came on the back of an impressive growth spurt, with the company reporting the same revenue in the first two months of 2021 as in the whole of 2020. Bitpanda, which claims four million users, is the country’s first and only fintech unicorn startup.
In Austria, blockchain and digital currencies have also sparked the interest of the government, which unveiled earlier this year a research project to learn more about tokenization and central bank digital currencies (CBDC).
Digital payments on the rise
Though cash has long been the preferred method of payment in the DACH region, digital transactions are catching up fast, a trend that was accelerated by the COVID-19 pandemic.
In June 2019, overall contactless adoption in DACH was at just 40%. This figure rose quickly to 71% by June 2020 and by June 2021 more than three quarters of cashless transactions in Germany, Austria and Switzerland were contactless, according to data published by Nets Group, a leading paytech firm from Denmark.
As of September 2021, the average contactless rate was 77% in Germany, 82% in Austria and 80% in Switzerland.
“The pandemic has significantly accelerated a steadily growing trend in the DACH region,” said Robert Hoffmann, CEO of Nets Merchant Services.
“It was inevitable that Germany, Austria and Switzerland would ultimately achieve high levels of contactless payment adoption, but without this catalyst, it would have taken years to reach where it is today. An increasing number of merchants here are now offering and actively encouraging tap-and-go, which is becoming the norm for consumers.”
The 2022 Finexable and Mambu report noted that the rise of e-commerce in DACH has fueled usage of digital payments, and most particularly, digital wallets, open invoicing, and buy now, pay later (BNPL) arrangements.
Interest in embedded finance on the rise
In 2023, embedded finance will continue to gain further momentum, Jennifer Heathfield-Lee, head of partnerships of ClearBank, said  in a statement to Mambu. This growth will be driven by rising demand from non-financial companies looking to tap new revenue streams and increase customer engagement, as well as fintech companies looking for alternatives to BaaS.
“Fintech companies are increasingly reliant on their BaaS providers to speed up time to market, boost revenues, and meet compliance demands,” Heathfield-Lee said. “However, as fintech companies scale and look to offer more complex services, many BaaS providers are struggling to keep up with this demand. This is resulting in lost revenues, significant resource requirements, rising costs, and at worst intervention from the regulator.
“Because of these issues, we’re seeing an appetite from across Europe for embedded banking as it’s more than just licensing, it’s the ability to create fit-for-purpose, targeted services supported by an API-enabled technology infrastructure in full compliance with regulatory requirements.”

Fintech DACH Trend Webinar- Replay



]]></description><link>https://fintechnews.eu/dach-fintech-trends-to-look-out-for-in-2023</link><guid>3092</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/DACHs-fintech-cities-Source-FindexableMambu-Aug-2022.png?x30842</dc:content ><dc:text>DACH: Fintech Trends to Look out for in 2023</dc:text></item><item><title>Transfermate Announce New Embedded Payments Solution for Banks and FIs</title><description><![CDATA[TransferMate has announced the launch of ‘TransferMate Connect’, an integrated payments solution for banks and financial institutions to deliver faster and more cost-effective payments products and services for their customers.
TransferMate has built one of the largest non-bank payments infrastructure in the world, covering more than 140 currencies and over 200 countries. Through TransferMate Connect, banks, and financial institutions can integrate with this network and instantly expand their global reach, giving them the ability to pass on its benefits to their own clients.
Banks and FIs will be able to build new cost-effective, fast, and secure payment propositions, allow their clients to set up trading capabilities in new territories quickly and at low-cost, and create or expand revenue streams generated by the funds moving through the network.




   



    
   


   








Sinead Fitzmaurice
“TransferMate Connect is a single technology providing a global payments gateway for banks and Financial institutions to streamline their exiting multiple correspondent banking systems into one interface”
said Sinead Fitzmaurice, CEO of TransferMate.
“With our extensive global network and the world-class compliance and security underpinning it all, we believe TransferMate is leading the evolution of how money moves around the world.”
A unique part of the proposition is the ability of banks and financial institutions to also integrate with another TransferMate product, Global Accounts, and again give their clients the capacity to leverage it for their own benefit.
Global Accounts allows users to open local bank accounts in over 30 currencies, creating their own international banking network where they can hold, pay, and store currencies in a way that suits them. It significantly reduces transaction fees and FX costs for users, allows for better control over international cash flows, and exponentially speeds up the ability of a user to set-up a banking presence in a new territory.
Terry Clune
“This complete package of solutions is truly innovative, and unmatched in the marketplace”
said Terry Clune, Group CEO of the Clune Tech Group and founder of TransferMate.
“We’re allowing banks and FIs to immediately create new products and services, or improve existing ones, and put them into market without causing any friction for their clients. I believe it’s going to give them a real competitive advantage in the marketplace.”
]]></description><link>https://fintechnews.eu/transfermate-announce-new-embedded-payments-solution-for-banks-and-fis</link><guid>3093</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>Transfermate Announce New Embedded Payments Solution for Banks and FIs</dc:text></item><item><title>Transfermate Rolls Out New Embedded Payments Solution for Banks and FIs</title><description><![CDATA[TransferMate recently announced the launch of ‘TransferMate Connect’, an integrated payments solution for banks and financial institutions to deliver faster and more cost-effective payments products and services for their customers.
TransferMate has built one of the largest non-bank payments infrastructure in the world, covering more than 140 currencies and over 200 countries. Through TransferMate Connect, banks, and financial institutions can integrate with this network and instantly expand their global reach, giving them the ability to pass on its benefits to their own clients.
Banks and FIs will be able to build new cost-effective, fast, and secure payment propositions, allow their clients to set up trading capabilities in new territories quickly and at low-cost, and create or expand revenue streams generated by the funds moving through the network.




   



    
   


   








Sinead Fitzmaurice
“TransferMate Connect is a single technology providing a global payments gateway for banks and Financial institutions to streamline their exiting multiple correspondent banking systems into one interface”
said Sinead Fitzmaurice, CEO of TransferMate.
“With our extensive global network and the world-class compliance and security underpinning it all, we believe TransferMate is leading the evolution of how money moves around the world.”
A unique part of the proposition is the ability of banks and financial institutions to also integrate with another TransferMate product, Global Accounts, and again give their clients the capacity to leverage it for their own benefit.
Global Accounts allows users to open local bank accounts in over 30 currencies, creating their own international banking network where they can hold, pay, and store currencies in a way that suits them. It significantly reduces transaction fees and FX costs for users, allows for better control over international cash flows, and exponentially speeds up the ability of a user to set-up a banking presence in a new territory.
Terry Clune
“This complete package of solutions is truly innovative, and unmatched in the marketplace”
said Terry Clune, Group CEO of the Clune Tech Group and founder of TransferMate.
“We’re allowing banks and FIs to immediately create new products and services, or improve existing ones, and put them into market without causing any friction for their clients. I believe it’s going to give them a real competitive advantage in the marketplace.”
]]></description><link>https://fintechnews.eu/transfermate-rolls-out-new-embedded-payments-solution-for-banks-and-fis</link><guid>3096</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Transfermate Rolls Out New Embedded Payments Solution for Banks and FIs</dc:text></item><item><title>Schweizer Bitcoin Startup Relai schliesst $4.5M Finanzierungsrunde ab</title><description><![CDATA[Relai, die Schweizer Bitcoin-App, gibt eine Investitionsrunde in Höhe von 4,5 Millionen US-Dollar bekannt, die von ego death capital angeführt wird. Weitere Investoren sind Timechain, Cabrit Capital und Lightning Ventures. An der Investitionsrunde beteiligten sich auch der Hauptinvestor von Relai, Redalpine, und der Seed-Stage-Investor Fulgur Ventures, die beide erneut investierten.
In Juni 2021 hatte Relai deren Series A (2.5Mio CHF) abgeschlossen und letzten Mai auch via Crowdfunding von der Community weitere 2.1Mio CHF beschafft.
Julian Liniger
“Der aktuelle Bärenmarkt ist der perfekte Zeitpunkt, um sich auf das Wesentliche zu konzentrieren: ein erstklassiges Produkt zu entwickeln, ein nahtloses Benutzererlebnis zu bieten und Menschen über Bitcoin als die beste Spar-Technologie, die je erfunden wurde, aufzuklären. Unser Team ist hungrig auf das, was vor uns liegt, und wir haben einen glasklaren Plan, den wir in den kommenden Monaten umsetzen werden. Mit dem Kapital von ego death und dem grossartigen Netzwerk rund um Jeff Booth, Andi Pitt und Nico Lechuga, sind wir bereit, Bitcoin zu 400M Menschen und 25M KMUs in Europa zu bringen!”,
kommentiert Julian Liniger, CEO und Mitgründer von Relai.




   



    
   


   








Die Erlöse aus dieser Runde werden in die Stärkung der Position von Relai als Bitcoin-Only-Startup in Europa fliesen. Das Startup plant, bald geführenfreien Bitcoin-Handel anzubieten, Bitcoin Lightning-Funktionalitäten zu integrieren und ein White-Label-Angebot zu lancieren, mit dem andere Fintechs den Handel von Fiat zu Bitcoin anbieten können. Darüber hinaus hat das Unternehmen vor kurzem seinen Service erweitert, um kleine und mittelständische Unternehmen (KMUs) anzusprechen, die mit der Einführung von Relai Business Bitcoin in ihre Bilanzen aufnehmen können.
Als Folge der Investitionsrunde wird Andi Pitt, Gründungspartnerin von Ego Death Capital, auch dem Vorstand von Relai beitreten. Sie war zuvor als Vice President Trading bei Goldman Sachs New York tätig. Die anderen Partner von Ego Death sind die Tech-Unternehmer Jeff Booth und Nico Lechuga. Zu ihrem Beirat gehören weitere grosse Namen der globalen Bitcoin-Branche wie Lyn Alden, Preston Pysh, und Pablo Fernandez.
]]></description><link>https://fintechnews.eu/schweizer-bitcoin-startup-relai-schliesst-45m-finanzierungsrunde-ab</link><guid>3094</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Schweizer Bitcoin Startup Relai schliesst $4.5M Finanzierungsrunde ab</dc:text></item><item><title>Netcetera Acquires Slovenian Software Company Kamino</title><description><![CDATA[Swiss software company Netcetera acquires Kamino, a company from Slovenia specializing in mobile app and digital identity development. The newly acquired expert know-how and technological expertise strengthen Netcetera’s core competency for business-critical digital solutions. The two companies have cooperated successfully in the past years and have decided on this merger as a strategic next step for the partnership.
Netcetera acquired 100% of the Slovenian software company Kamino at the beginning of 2023. Kamino brings experience and know-how in mobile app, banking and payment, and digital identity product development. They have a strong user experience (UX) team, which integrates perfectly with Netcetera’s portfolio of solutions focusing on the optimal balance of security and convenience for a seamless experience. The two software companies are an excellent strategic fit, so the acquisition was a logical next step to strengthen the cooperation further.
Carsten Wengel
With Kamino, Netcetera gains valuable additional talent. Carsten Wengel, CEO at Netcetera, says




   



    
   


   








“With this strategic expansion, we are investing in our core strengths with additional business expertise and engineering power and a new location in Ljubljana. I’m happy to welcome the 50 new experts to the Netcetera family. With this reinforcement, we can further accelerate digital transformation in all industries.”
Strategic fit to advance payment and digital identity
Kamino’s employees have great mobile app design, development, and maintenance skills. This is paired with an experienced UX team and their proven expertise in digital identity, self-sovereign identities (SSI), and eID. Kamino has built and maintains the Slovenian national eID app that adheres to the eIDAS regulations. eIDAS oversees electronic identification and trust services for electronic transactions in the European Union. Kamino’s know-how and experience are a great addition to the Netcetera team and an asset for the continuous development of Netcetera’s own identity solutions. Together the two companies can drive the evolution, acceptance, and trust in digital IDs to improve and secure people’s lives in a digital world.
Andrej Slapnik
Additionally, Kamino complements Netcetera’s strong end-to-end offer in the payment and banking industry. Kamino has a proven track record in the financial industry with a digital wallet developed for an investment company. Besides technological aspects, a people-focused approach toward employees and customers is a value both companies share. Andrej Slapnik, CEO and co-founder of Kamino, says:
“Our expertise, approach and background are a great fit, and we have a similar people-first mindset with employees, customers, and users in focus. We look forward to driving innovation in payment and digital identity with user-friendly digital solutions and are excited to begin this journey as part of Netcetera.”

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/netcetera-acquires-slovenian-software-company-kamino</link><guid>3090</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>Netcetera Acquires Slovenian Software Company Kamino</dc:text></item><item><title>eToro Partners With Sentifi to Launch Social Sentiment Portfolio</title><description><![CDATA[eToro, the social investing network, announced the launch of SocialSentiment, a portfolio offering exposure to US companies with solid ESG performance and high levels of positive social chatter developed in partnership with Sentifi, an award-winning alternative data provider.
Dani Brinker, Head of Investment Portfolios at eToro said:
“eToro pioneered social investing and showed how the power of social can empower people around the world to build their wealth and take control of their finances. With this portfolio, we aim to offer retail investors exposure to stocks that are being discussed in a positive light on social and digital channels, adding an extra layer of insights. We are looking forward to partnering with the Sentifi team, and working together to harness the power of social networks.”
Ranked in the AIFinTech100 list for its pioneering Artificial Intelligence (AI) technology, Sentifi analyses over 50,000 stocks, currencies, commodities, indices, passive and active funds. To shape the portfolio, Sentifi pairs these metrics with social sentiment (sentScore) and ESG scores.  Sentifi determines the sentiment towards an asset by allocating a sentScore, established by analysing over 500 millions tweets, 2 million news articles, forums and blogs.The result is a selection of US stocks with high ESG credentials and positive social chatter.




   



    
   


   








Marina Goche
Marina Goche, CEO at Sentifi said:
“When it comes to investing, information is power and the more knowledge retail investors have, the more informed decisions they can make. The events over the past several years relating to the meme-stock rallies are evidence of how the herd can change direction, and where these changes happen, which is largely in social networks and forums. Social networks, news, blogs and forums are also a valuable source of changing risk for asset classes and offer dynamic views on ESG performance appreciation and degradation for companies globally – essential for constructing portfolios that outperform a benchmark. Sentifi is delighted to partner with eToro to offer eToro’s Social Sentiment portfolio.”
Rebalanced monthly, the allocation consists of the top 10 S&amp;P 500 stocks that meet the ESG and social sentiment criteria, ranked by their lowest risk over attention weighted sentiment score (AWSS). The list of stocks selected at inception can be found here.
eToro’s range of Smart Portfolios offer investors exposure to various market themes. Bundling together several assets under a defined methodology, and employing a passive investment approach, eToro’s Smart Portfolios are long-term investment solutions that offer diversified exposure with no management fees.
Initial investment starts from USD$500 and investors can access tools and charts to track the portfolio’s performance, while eToro’s social feed will keep them up-to-date on developments in the sector. For now, this portfolio is not available to US users.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/etoro-partners-with-sentifi-to-launch-social-sentiment-portfolio</link><guid>3086</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-banner.jpg?x30842</dc:content ><dc:text>eToro Partners With Sentifi to Launch Social Sentiment Portfolio</dc:text></item><item><title>DZ Bank Selects Metaco Harmonize to Underpin Its Institutional Digital Asset Custody Offering</title><description><![CDATA[Metaco announces its cooperation with DZ BANK .
As a central institution, DZ BANK provides a multitude of services, particularly asset management services, being one of the largest German custodians, with €297 billion assets under custody at the end of 2022.
Metaco’s custody and orchestration platform, Harmonize, was selected by DZ BANK through an extensive proof-of-concept and diligence process. Harmonize has proven to be a powerful solution, helping DZ BANK to build an attractive and secure offering to institutional clients in the space of crypto securities (German eWpG) and digital currencies – fully integrated into its current asset management services.




   



    
   


   








Metaco’s agnostic model enables different deployment methods, as well as a hardware-enforced key management infrastructure, securing multiple types of digital assets – including tokenized securities like bonds and equities. Harmonize™ offers a versatile governance framework with customizable risk and compliance controls, with full segregation of multiple business units and clients, guaranteeing isolation of policies, users, accounts, and assets.
Nils Christopeit
Nils Christopeit, Lead Solution Design Digital Custody at DZ BANK, commented:
“In terms of our security, scalability, and future requirements of our digital asset custody initiative for institutional clients, starting with crypto securities as per the German eWpG, Metaco Harmonize has proven to be a powerful solution that is fit for purpose and can support our intended operating model. With the offering we can build by using this technology, we trust to create a durable and fast-growing business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments.”
Craig Perrin
Craig Perrin, Chief Sales Officer at Metaco, commented:
“Metaco’s digital asset technology infrastructure is purposely designed to support financial institutions to capitalize on the digital asset economy. We are excited to announce this cooperation as it further establishes Metaco as a market leader in Germany, trusted by some of the country’s largest banks and exchanges.”



Featured image credit: From left to right: Olaf Liebeskind – IT, Project Lead Digital Custody at DZ BANK; Kolja Gerlach –Operations, Project Lead Digital Custody at DZ BANK; Nils Christopeit – Operations, Lead Solution Design Digital Custody at DZ BANK; Craig Perrin – Chief Sales Officer at Metaco; Thomas Pecha – Sales Director DACH &amp; CEE at Metaco; Johannes Kaske – Global Head of Solutions at Metaco.
]]></description><link>https://fintechnews.eu/dz-bank-selects-metaco-harmonize-to-underpin-its-institutional-digital-asset-custody-offering</link><guid>3087</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>DZ Bank Selects Metaco Harmonize to Underpin Its Institutional Digital Asset Custody Offering</dc:text></item><item><title>DZ Bank Selects Metaco Solution for Institutional Digital Asset Custody Offering</title><description><![CDATA[Metaco announces its cooperation with DZ Bank.
As a central institution, DZ Bank (DZ provides a multitude of services, particularly asset management services, being one of the largest German custodians, with €297 billion assets under custody at the end of 2022.
Metaco’s custody and orchestration platform, Harmonize, was selected by DZ through an extensive proof-of-concept and diligence process. Harmonize has proven to be a powerful solution, helping DZ to build an attractive and secure offering to institutional clients in the space of crypto securities (German eWpG) and digital currencies – fully integrated into its current asset management services.




   



    
   


   








Metaco’s agnostic model enables different deployment methods, as well as a hardware-enforced key management infrastructure, securing multiple types of digital assets – including tokenized securities like bonds and equities. Harmonize offers a versatile governance framework with customizable risk and compliance controls, with full segregation of multiple business units and clients, guaranteeing isolation of policies, users, accounts, and assets.
Nils Christopeit
Nils Christopeit, Lead Solution Design Digital Custody at DZ Bank, commented:
“In terms of our security, scalability, and future requirements of our digital asset custody initiative for institutional clients, starting with crypto securities as per the German eWpG, Metaco Harmonize has proven to be a powerful solution that is fit for purpose and can support our intended operating model. With the offering we can build by using this technology, we trust to create a durable and fast-growing business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments.”
Craig Perrin
Craig Perrin, Chief Sales Officer at Metaco, commented:
“Metaco’s digital asset technology infrastructure is purposely designed to support financial institutions to capitalize on the digital asset economy. We are excited to announce this cooperation as it further establishes Metaco as a market leader in Germany, trusted by some of the country’s largest banks and exchanges.”



Featured image credit: From left to right: Olaf Liebeskind – IT, Project Lead Digital Custody at DZ BANK; Kolja Gerlach –Operations, Project Lead Digital Custody at DZ BANK; Nils Christopeit – Operations, Lead Solution Design Digital Custody at DZ BANK; Craig Perrin – Chief Sales Officer at Metaco; Thomas Pecha – Sales Director DACH &amp; CEE at Metaco; Johannes Kaske – Global Head of Solutions at Metaco.
]]></description><link>https://fintechnews.eu/dz-bank-selects-metaco-solution-for-institutional-digital-asset-custody-offering</link><guid>3091</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>DZ Bank Selects Metaco Solution for Institutional Digital Asset Custody Offering</dc:text></item><item><title>Abacus investiert in den virtuellen Schalter eAdmin</title><description><![CDATA[Online-Lösungen für Bürgerinnen und Bürger, sogenannte virtuelle Schalter, erfreuen sich bei Schweizer Gemeinden und Verwaltungen zunehmend wachsender Beliebtheit.
Neu investiert auch das Software-Unternehmen Abacus Research AG in den virtuellen Schalter eAdmin, eine in der Westschweiz ansässige Plattform. Die Abacus Research AG versteht sich dabei als Partner, welcher nebst finanziellem Investment auch langjähriges technologisches Know-how einbringt, so dass eine Erweiterung des Deutschschweizer Marktes vorgenommen werden kann.
Die von der Firma Quicksite SA entwickelte Lösung eAdmin ist in vollem Aufschwung. Neu investiert das Software-Unternehmen Abacus Research AG in diese digitale Lösung, die eAdmin. Das Engagement seitens Abacus soll dazu führen, dass die Entwicklung des virtuellen Schalters beschleunigt wird und neue Funktionen wie die digitale Unterschrift integriert werden können.




   



    
   


   








Um die Bekanntheit zu steigern, wird Quicksite SA neu zu eAdmin Solutions SA
Im Bestreben, eAdmin im gesamten Schweizer Markt zu positionieren, hat das Management von Quicksite beschlossen, die Firma umzubenennen – in eAdmin Solutions SA. Roger Schaad, Direktor des Unternehmens, erklärt:
Roger Schaad
«Die neue Firmierung wurde gegründet, um dem wachsenden Bedarf von eAdmin hinsichtlich Bekanntheitsgrad gerecht zu werden. Der neue Name wird eine klarere Kommunikation ermöglichen, die der angestrebten gesamtschweizerischen Entwicklung förderlich sein wird. Für unsere Bestandeskunden, die uns teilweise seit über 20 Jahren begleiten, wird sich aktuell nichts ändern.»
Abacus fungiert als unterstützender Partner
Als führender Schweizer Softwarehersteller mit über 750 Mitarbeitern arbeitet Abacus Research AG mit einem indirekten Verkaufsmodell. Mehrere dieser Vertriebspartner sind auf den Markt der öffentlichen Verwaltungen spezialisiert und werden von der Beteiligung an eAdmin Solutions SA profitieren. Laurent Gfeller, Verantwortlicher für den Westschweizer Markt bei Abacus Reserach AG, spricht von einer Mehrwert-stiftenden Zusammenarbeit:
Laurent Gfeller
«Wir werden uns nicht damit begnügen, finanziell in eAdmin zu investieren, sondern möchten sowohl einen Mehrwert in technologischer als auch in kommunikativer Hinsicht schaffen.»
Eine Win-Win-Situation, von dem die sechs Kantonsverwaltungen und rund 570 Städte und Gemeinden, die momentan mit Abacus Software arbeiten, profitieren werden. Insofern können mehr als 3,7 Millionen Einwohnerinnen und Einwohner die Vorteile des virtuellen Schalters eAdmin nutzen.
Für Roger Schaad ist das Engagement von Abacus Reserach AG die perfekte Verbindung:
«Die Digitalisierung des öffentlichen Sektors ist ein begehrter und hart umkämpfter Markt. Mit Abacus haben wir einen zuverlässigen Partner gefunden, der in diesem Markt nicht nur fest etabliert ist, sondern auch die gleichen Grundwerte vertritt.»
]]></description><link>https://fintechnews.eu/abacus-investiert-in-den-virtuellen-schalter-eadmin</link><guid>3088</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>Abacus investiert in den virtuellen Schalter eAdmin</dc:text></item><item><title>Metaverse Initiatives Proliferate in France Amid Govt Push</title><description><![CDATA[In France, initiatives to develop immersive, shared virtual environments are proliferating on the back of increased interest from both the government and the business community in the prospect of the metaverse to reinvent customer engagement, enrich experiences and showcase the French culture.
In the Cote d’Azur metropolitan area and its capital city Nice, mayor and president Christian Estrosi, made a pioneering move this year when he unveiled that a virtual replica of Villa Massena, a historical building in Nice, had been released on metaverse platform Spatial.
The move made Nice Cote d’Azur the first metropolis in France to establish a presence on the metaverse, the city said in a statement, and showcased its “keen attention on developments relating to Web 3.0” including virtual, shared spaces as well as non-fungible tokens (NFTs).




   



    
   


   








The initiative was showcased live during an official ceremony on February 14, during which an avatar of Estrosi presented the city’s goals behind the new virtual space, boasting about the metropolis’ rich cultural heritage and desire to remain up-to-date with the latest technological developments.
Christian Estrosi

#Nice06, première métropole de France à investir le Metaverse ! Dans le cadre de la candidature de la @VilledeNice à @Nice2028eu, le @musee_massena a ouvert ses portes virtuelles sur @Spatial_io, en faisant une nouvelle porte d’entrée sur le rayonnement culturel de notre Cité. pic.twitter.com/Lsn3bulcNf
— Christian Estrosi (@cestrosi) February 14, 2023
The Nice Cote d’Azur metropolis is one of the many players in France that have recently hopped on the metaverse bandwagon. Just this month, multinational insurance firm AXA said that its French subsidiary had launched a new game on The Sandbox metaverse platform.
The AXADIA initiative, which is available until March 01, aims for visitors to learn about AXA, its values and its achievements through a virtual game.
It allows players gain access to exclusive experiences and spaces, including one recruitment space with games focusing on courage and resilience, an innovation space focusing on collaborative work, and a museum covering the history of AXA.
The game culminates with a “Secret” level that provides players with the opportunity to win the AXA Shield NFT, a “legendary shield” that’s in reference to the goal of insurers: providing customers with financial protection against losses.
Additionally, AXA said its new metaverse initiative differentiates from other games for its unique “play-to-give” experience, which entices players to participate with the promise of donating 20,000 SAND (US$14,000) to Emmaus Connect, an organization fighting against digital and social exclusion, when the total number of players finishing the game reaches 10,000.
AXA, which got first involved in the metaverse in early 2022 through the acquisition of a plot of land in The Sandbox, is part of a growing list of French companies that are eyeing opportunities in the shared virtual space. These companies include:

Carrefour, a multinational retail and wholesaling corporation which acquired land in The Sandbox in 2022 and which has been exploring virtual recruitment opportunities in the metaverse;
Casino, a mass-market retail group which started buying plots on The Sandbox in 2021 and launched last year a new game on the metaverse platform;
Ubisoft, a leading video game publisher which brought the Rabbids multimedia franchise to The Sandbox in 2022; and
The Havas Group, a communications group which opened a “virtual village” in The Sandbox in April 2022.

French luxury brands as well are actively pursuing metaverse and NFT opportunities. A 2022 analysis by Bain and Company for the Comite Colbert, a local luxury industry group, revealed that about half of the country’s luxury sector houses and companies were either experimenting with the metaverse or NFTs, or planned to soon.
Adopted by only 5% of pioneers to date, NFTs could be deployed massively in the years to come: 51% of the companies surveyed said NFTs were either already in the testing phase or planning to launch before 2025. This is the highest level of projection among all the technologies studied and combined.
Respondents named customer engagement as the primary focus of technology adoption, eyeing opportunities relating to NFTs and the metaverse to personalize and enrich distance selling experiences, omni-channel and immersion.
Ceasing the opportunity
These initiatives are emerging on the back of rising interest in these concepts from the government. A report commissioned by French authorities and released in October 2022 highlights the imperative to cease the opportunities brought about the metaverse, stressing the need to formulate a clear national strategy.
Among the recommendations brought forward, the report says the 2024 Summer Olympics in Paris presents a great opportunity to bring together industry stakeholders to work on and launch concrete metaverse projects. These initiatives should focus on showcasing France’s territories, culture and heritage, it says.
Lawmakers should also start working on adjusting the regulatory framework to accommodate the development of the metaverse, as well as support should be given to metaverse projects that are addressing societal needs, it says.
“The authors of the report are formal: the metaverse announces itself as a bearer of major opportunities, from industry to health, through training and the economy,” a media statement from the Ministry of the Economy, Finance and Industrial and Digital Sovereignty of France, reads.
“For France and for Europe, the development of the metaverse must allow the emergence of new world leaders in the digital realm and strengthen French cultural influence. According to the report, encouraging this innovation on the territory would thus promote the export of Francophone culture, in the Francophonie and beyond.”
Across the border, in Switzerland, Helvetia Insurance launched just last week a new offering in the metaverse, allowing customers with virtual reality (VR) headsets to attend consultations in a virtual meeting room through their avatar.
Information events and consultations in the metaverse are the first metaverse pilot applications for the company, Jan Kundert, head customer and market management, and member of the executive board of Helvetia Switzerland, said in a release. New products are envisaged at a later stage in the event of increased demand for new insurance solutions in the virtual world, he said.
[embedded content]

Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/metaverse-initiatives-proliferate-in-france-amid-govt-push</link><guid>3089</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>Metaverse Initiatives Proliferate in France Amid Govt Push</dc:text></item><item><title>Finanzwissen.de Gründer wollen für mehr Transparenz im Finanzmarkt sorgen</title><description><![CDATA[Fintechnews sprach mit den Gründern des Deutschen Vergleichsportal Finanzwissen.de. Sebastian Rau und Christian Musanke sprechen über deren Ziele, Gebührentransparenz, Anlagetrends und das Finanzwissen der Generation Z.
Herr Rau, Könnten Sie uns etwas über die Gründung von finanzwissen.de erzählen, wer sind die Gründer und was hat Sie dazu bewegt, ein Finanz-Vergleichsportal zu gründen?
Sebastian Rau
Sebastian Rau: finanzwissen.de wurde im Jahr 2021 gegründet. Wir sind fünf Gründer, die sich alle im Bereich Finanzen und Technologie engagieren und jahrelange Erfahrung in der Branche haben. Wir haben erkannt, dass es eine grosse Lücke bei der Vermittlung von Finanzwissen an junge Menschen gibt und beschlossen, dieses Problem anzugehen, indem wir ein Finanz-Vergleichsportal gründen, das jungen Leuten bei der Verbesserung ihrer Finanzkenntnisse hilft.
Was ist Ihr Ziel mit finanzwissen.de? Wie möchten Sie junge Menschen erreichen?
Sebastian Rau: Unser Ziel ist es, Finanzwissen auf eine zugängliche und verständliche Weise zu vermitteln. Wir möchten jungen Menschen dabei helfen, ihre finanzielle Zukunft zu gestalten und besser auf die Herausforderungen des täglichen Lebens vorbereitet zu sein. Wir haben auch erkannt, dass soziale Medien ein wichtiger Kanal sind, um junge Leute zu erreichen. Deshalb versuchen wir ebenfalls, unsere Inhalte auf verschiedenen Social-Media-Plattformen zu teilen.
Bildquelle – https://finanzwissen.de/
Herr Musanke, haben Sie Pläne, in Zukunft Verbraucherschutz-Themen wie Anwendungstests und weitere Finanzvergleiche auf finanzwissen.de anzubieten?
Christian Musanke
Christian Musanke: Ja, und wir sind sogar bereits dabei, uns auf diesen Bereich vorzubereiten. Wir haben ein Team von Experten zusammengestellt, das sich auf verschiedene Finanzprodukte und -dienstleistungen spezialisiert hat und eng mit uns zusammenarbeitet. Mit unserer Redaktion entwickeln wir Vergleichs- und Testverfahren, um eine objektive Bewertungsgrundlage zu schaffen. Eines unserer ersten Projekte in diesem Bereich ist die Erstellung einer Liste der besten Depots zum Investieren. Im Zuge des Tests haben wir eine umfangreiche Recherche durchgeführt und die verschiedenen Anbieter ausführlich auf ihre Konditionen geprüft. Unser Anspruch ist, dass wir jedes Depot auch selbst testen, um unseren Nutzern die besten Anbieter auf dem Markt vorschlagen zu können.
Sebastian Rau: Wir glauben, dass insbesondere ETF für die meisten Anleger eine grossartige Möglichkeit sind, um in den Aktienmarkt zu investieren. Sparpläne vereinfachen es den Anlegern zudem, auch kleinere Summen regelmässig in ETFs zu investieren. Für einen anderen Vergleich haben wir also auch die Depots für ETF-Sparpläne auf verschiedene Faktoren getestet, wie z.B. Gebühren, Diversifikation, Rendite und Liquidität. Ausserdem haben wir die Eignung der Depots für verschiedene Anlegertypen bewertet. Anfänger, die gerade erst anfangen, in den Aktienmarkt zu investieren, haben nämliche andere Anforderungen, als Profis, die ihr Portfolio diversifizieren möchten.
Wie stellen Sie sicher, dass Ihre Inhalte von höchster Qualität sind?
Christian Musanke: Wir haben ein 6-Augen Prinzip, das uns dabei hilft, die höchstmögliche Qualität in unseren Artikeln zu erreichen. Jeder Artikel wird von mindestens drei Personen überprüft, bevor er veröffentlicht wird. Das beinhaltet die Arbeit von zwei Redakteuren, die sicherstellen, dass alle relevanten Themeninhalte abgedeckt und gut strukturiert werden. Dann wird der Artikel von einem Finanzexperten auf dem jeweiligen Gebiet geprüft, um sicherzustellen, dass der Inhalt fachlich korrekt und verständlich aufbereitet ist.
Bildquelle – https://finanzwissen.de/
Wie sieht Ihre Marketing- und Vertriebsstrategie aus?
Christian Musanke: Wir nutzen verschiedene Kanäle, um finanzwissen.de zu bewerben. Dazu gehören Social-Media-Kampagnen, Online-Marketing und Influencer-Marketing. Wir haben auch begonnen, eng mit anderen Unternehmen und Organisationen zusammenzuarbeiten, um unser Netzwerk zu erweitern und unsere Reichweite zu erhöhen. Unser Ziel ist es, finanzwissen.de als führende Plattform für Finanzwissen und Finanzvergleiche für junge Menschen zu etablieren. Wir sind sehr zuversichtlich, dass wir mit unserem Anspruch an qualitative Inhalte und unserem 6-Augen Prinzip ein hohes Mass an Vertrauen und Glaubwürdigkeit bei unseren Nutzern aufbauen werden.
Wie unterscheidet sich finanzwissen.de von anderen Finanzvergleichsportalen?
Sebastian Rau: Wir setzen uns von anderen Finanz-Vergleichsportalen ab, indem wir nicht nur Vergleichstabellen und -rechner anbieten, sondern auch eine umfassende Finanzwissen-Datenbank. Wir wollen unseren Nutzern helfen, die für sie richtigen Finanzprodukte zu finden, indem wir nicht nur Zahlen und Tabellen präsentieren, sondern auch den Kontext und die Hintergründe erklären. Dafür haben wir die – soweit uns bekannt – grösste Datenbank für Anbieter-Informationen für Finanzdienstleistungen in Deutschland aufgebaut. Unsere Inhalte sind einfach und verständlich geschrieben, ohne dass Fachwissen vorausgesetzt wird. Ausserdem legen wir großen Wert auf die Qualität unserer Inhalte und haben dafür unser 6-Augen Prinzip etabliert.
Haben Sie externes Kapital aufgenommen, um das Portal zu finanzieren?
Christian Musanke: Nein, auch wenn in den vergangenen Jahren Venture-finanzierte Start-ups im Trend waren, haben wir uns für den bootstrapped Ansatz entschieden. Dadurch, dass wir kein externes Kapital aufgenommen haben, haben wir eine gewisse Unabhängigkeit und Flexibilität, um das Portal nach unseren eigenen Vorstellungen zu gestalten. Wir möchten allerdings nicht ausschliessen, dass wir in Zukunft eine Finanzierungsrunde abschliessen, um uns neue Wachstumswege zu ermöglichen.
Was sind Ihre Ziele für die Zukunft?
Christian Musanke: Unser langfristiges Ziel ist es, finanzwissen.de zu einer der führenden Plattformen für Finanzwissen und Finanzvergleiche für junge Menschen zu machen. Wir möchten unsere Inhalte kontinuierlich verbessern und erweitern und auch unseren Finanzwissen-Youtube Channel weiter ausbauen. Inhaltlich möchten wir uns auch gerne mit weiteren Verbraucherschutz-Themen beschäftigen. Doch dafür fehlt uns aktuell leider (noch) die Zeit.
Können Sie uns abschliessend sagen, warum junge Menschen finanzwissen.de nutzen sollten?
Sebastian Rau: Wir glauben, dass junge Menschen sich selbst eine finanzielle Intelligenz aneignen sollten. Mit Finanzwissen.de bieten wir eine breite Palette an Artikeln, Vergleichstabellen und -rechnern sowie Testberichten an, die ihnen dabei helfen können, fundierte Entscheidungen zu treffen. Wir möchten unseren Leserinnen dabei helfen, ihre finanzielle Zukunft zu gestalten, indem wir ihnen das notwendige Wissen und die Werkzeuge zur Verfügung stellen. Und all dies tun wir mit einem Fokus auf Qualität und Glaubwürdigkeit, was uns von vielen anderen Finanzportalen unterscheidet.
Abschliessend können wir noch anteasern, dass wir bald mit einer neuen Website starten werden, die uns technisch auf ein neues Level der Professionalität heben wird. Ebenso haben wir durch die Nutzung von Social Media und anderen Kanälen begonnen eine starke Präsenz aufzubauen, die in Zukunft noch weiter wachsen soll. Wir freuen uns auf die nächsten Jahre und hoffen, auch langfristig die finanzielle Bildung in Deutschland stärken und mitgestalten zu können.
]]></description><link>https://fintechnews.eu/finanzwissende-grunder-wollen-fur-mehr-transparenz-im-finanzmarkt-sorgen</link><guid>3085</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/finanzwissen-website.png?x30842</dc:content ><dc:text>Finanzwissen.de Gründer wollen für mehr Transparenz im Finanzmarkt sorgen</dc:text></item><item><title>Helvetia Goes Metaverse in Insurance Client Service</title><description><![CDATA[Helvetia Insurance is going one step further in terms of convenience and digitalization: Questions regarding insurance topics can now be answered by trained specialists in the metaverse. The all-lines insurer intends to gain experience in the virtual world, while simultaneously evaluating customer needs and potential new products and business models.
Whether going to a concert, competing in computer games, meeting up with a colleague from America – the metaverse already offers many possibilities. From now on, you can also receive advice from an insurance expert from Helvetia. Anyone with a VR headset can attend a consultation in a virtual meeting room through their avatar. In addition to Helvetia Switzerland, the Group’s online insurer Smile also has a presence in the metaverse.
Exploring a new world together
In the initial phase, Helvetia’s main aim is to gain experience in the metaverse with regard to new customer requirements and technological developments as well as opportunities for new products and business models. Information events and consultations in the metaverse are the first pilot applications for the company.




   



    
   


   









Jan Kundert
According to Jan Kundert, Head Customer and Market Management and Member of the Executive Board of Helvetia Switzerland:
“We are there at the start of a technological development that is opening up a whole new world for us. We are stepping into this environment together with our customers. This will enable us to find out about their needs in a virtual space.”
New products are also envisaged at a later stage, he continues, for example in the event of increased demand for new insurance solutions in the virtual world.

Investing in the customer experience
Immersion and interaction are intended to create added value in the new advisory offering. Helvetia is confident that its move into the metaverse will result in new and exciting interactions with customers. These in turn should produce findings that help to further optimize the customer experience in the virtual space.
helvetiaverse
Booking an appointment online
Anyone requiring a consultation in the metaverse can book an appointment online – the same as for a telephone consultation or a meeting at the agency. Helvetia will then send the access data by e-mail. The interested customers then meet as avatars with Helvetia’s specialist in a virtual meeting room. After the consultation, they will receive a text message or e-mail with a link to their personal offer or to conclude a digital contract. At first, just a small number of Helvetia employees will have virtual reality headsets and be trained in their use. The virtual room has therefore been set up to allow more people to join in as a conventional video conference.
Swiss Insurance Metaverse Trend
Helvetia is according to Fintechnews research already the second insurer in Switzerland using the metaverse. Beginning of January also Smile Insurance announced their metaverse launch.
]]></description><link>https://fintechnews.eu/helvetia-goes-metaverse-in-insurance-client-service</link><guid>3084</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>Helvetia Goes Metaverse in Insurance Client Service</dc:text></item><item><title>Biometric Attacks Proliferate; Become More Sophisticated</title><description><![CDATA[Biometric attacks are surging globally as threat actors are developing ever more sophisticated ways to circumvent security systems to commit fraud, a new report by iProov, a biometric authentication and identity verification provider, says.
The iProov Biometric Threat Intelligence Report 2023, released in February  2023, draws on data collected by iProov’s global security operations center, iSOC, to identify key attack trends and patterns witnessed throughout 2022.
According to the report, 2022 saw the growth of face swap attacks, which soared by 295% in the second half of the year compared with the first half of the year. These attacks are also growing more sophisticated with threat actors now relying on real-time, 3D face swap methods that can evade both active and passive liveness verification.




   



    
   


   








Face swap attack rate, Source: iProov Biometric Threat Intelligence Report 2023, iProov, Feb 2023
Face swap attacks are an emerging threat to face recognition systems where a criminals combines traits from one face, such as motion, with the appearance of another face to create a new synthetic 3D video output. This output has the characteristics of the genuine individual’s facial traits and can be used during a liveness verification attempt to match with a government-issued identification photograph.
The rise and increased sophistication of face swap attacks suggest that prepacked tools are being made widely available to criminals, allowing even low-skilled threat actors to tap advanced tools to create and launch state-of-the-art synthetic attacks, the report says.
This finding is echoed by a 2022 report by the European Union Agency for Law Enforcement Cooperation (Europol) which states that the surge of so-called “deepfake as a service” has seen underground organizations make deepfake capabilities more accessible for the masses through dedicated apps and websites.
Another key trend observed by iProov last year is the rise of digital injection attacks targeting mobile devices, which increased by 149% in H2 2022 compared with H1 2022.
These attacks typically use emulators to mimic a user device, such as a mobile phone, as well as metadata spoofing to conceal their attack origins. These attacks aim to bypass standard fraud detection methods, making tracking and blocking these attacks more difficult.
Mobile injection attack rate, Source: iProov Biometric Threat Intelligence Report 2023, iProov, Feb 2023
Mobile platforms are often used for biometric verification because they are perceived as more secure than web due to the superior functionality and security available through native apps.
However, like face swaps and deepfakes, the increasing availability of attack tools and emulators is allowing threat actors to launch advanced injection attacks across different platforms, driving the rise of attacks on mobile web and native platforms, the report says.
Finally, the third and last trend observed by iProov in 2022 is the emergence of automated, large-scale attacks on different systems simultaneously.
The majority of these attacks involved motion-based digitally injected attacks. These attacks sought to circumvent authentication systems that ask people to perform motions such as blinking and smiling with the goal of overwhelming these platforms by simultaneously launching hundreds of verification attempts.
These large-scale, automated attacks occurred every few days, at a rate of 100 to 200 verification attempts in the span of 24 hours and targeted different geographical clusters, the report says.
The rise of biometric attacks comes on the back of increased adoption of these new authentication methods. These methods use biological traits such as fingerprints, voices, retinas, and facial features, to verify a user’s identity and are perceived by organizations as more secure and efficient than traditional verification methods such as one-time passcodes.
In 2021, the mobile biometrics industry was valued US$44.2 billion, according to a new report by Transparency Market Research. Between 2022 and 2031, the market is projected to grow at a compound annual growth rate of 20.1% to reach US$267.7 billion.
This rise will be driven by increased acceptance of these verification methods among end users, organizations and corporations; increased demand for more reliable authentication techniques; and demand for different forms of user authentication mechanisms for both online and offline applications, the report says.
Global mobile biometric market, Source: Transparency Market Research, Jan 2023
Featured image credit from Freepik
]]></description><link>https://fintechnews.eu/biometric-attacks-proliferate-become-more-sophisticated</link><guid>3083</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>Biometric Attacks Proliferate; Become More Sophisticated</dc:text></item><item><title>Philippine Fintech Leader GCash Joins Plenary At Mobile World Congress</title><description><![CDATA[The Philippines #1 Fintech App GCash, operated by the Globe Group’s Mynt, will join key speakers at the plenary of the Mobile World Congress in Barcelona this month as its President and CEO Martha Sazon delivers a keynote speech on the evolving customer at the main stage of the world’s largest and most influential exhibition for the mobile industry.
Martha Sazon
Sazon is one of the keynote speakers at the MWC on “New Behavior for a New Reality,” which touches on a topic close to GCash’s story.
GCash emerged as a crucial digital platform during the pandemic, allowing individual Filipinos to complete financial transactions and giving merchants access to the online market amid movement restrictions. Now, in the transition to the new normal, GCash has become a verb and is now the Filipinos’ go-to everyday fintech companion.
Sazon will also be a session speaker at the “Fintech Summit: The Rise of Fintech Disruption,” where she will delve into how fintech is enabling the creation of powerful and disruptive solutions that are redefining the market.
GCash, the dominant mobile wallet in the Philippines, is now a double unicorn valued at $2 billion and with a user base of ~76 million. It continues to expand financial services, from payments and cash transfers to credit, savings, wealth, insurance and investment products. It also features retail, food, wellness, travel, recreation and even real estate services.
Most recently, GCash started its beta launch of GCash Overseas, which allows Filipinos based in Japan, Australia and Italy to use GCash using an international SIM– another game-changer in the Philippine fintech industry.
Now on limited launch, GCash Overseas will give the first 1,000 users from the three countries access to GCash using an international SIM. Once fully verified, they can start using their GCash to send money home for free (GCash to GCash), paying bills, and buying load credits. The full launch of this feature is expected later this year.
Meanwhile, Globe Group President and CEO Ernest Cu will banner the company’s pivot from telco to techco in a panel with Transcelestial, one of the companies supported by the Globe Group’s Kickstart Ventures.
Ernest Cu
Cu will join CEOs of top Southeast Asian telcos in a discussion on new network-related technologies and connectivity challenges in the Philippines, among others.
“Our fintech company’s debut at the Mobile World Congress Barcelona is a crucial milestone for the Globe Group as we establish ourselves as a leading digital disruptor and enabler in the Philippines, and banner our evolution into a technology company. We are proud to showcase our achievements as we uplift the lives of Filipinos through digital solutions, and to be part of the global conversation on the future of technology and connectivity,”
said Cu.
MWC Barcelona is the world’s largest mobile industry gathering, attracting thousands of exhibitors and visitors worldwide. Hosted by GSMA, a global organization unifying the mobile ecosystem, this year’s MWC will be held from February 27 to March 2, 2023.
The Globe Group’s presence at the much-anticipated international event is an opportunity for the expanding company to showcase its commitment to being at the forefront of innovation and progress.
With almost a hundred portfolio companies under its wing, the Globe Group has successfully expanded into the country’s leading digital solutions platform, with services in fintech, health tech, adtech, edutech, outsourcing and managed services, enterprise data, and investments. It aims to create a Philippines that is digitally inclusive by leveraging technology and continuously innovating to meet the changing industry conditions.

]]></description><link>https://fintechnews.eu/philippine-fintech-leader-gcash-joins-plenary-at-mobile-world-congress</link><guid>3082</guid><author>Administrator</author><dc:content /><dc:text>Philippine Fintech Leader GCash Joins Plenary At Mobile World Congress</dc:text></item><item><title>eToro secures New York Virtual Currency and Money Transmitter License</title><description><![CDATA[eToro, the social investing platform, announced that the New York State Department of Financial Services (NYDFS) has approved its subsidiary, eToro NY LLC’s, application for its money transmitter and virtual currency licenses, the latter also known as the BitLicense.
Once eToro NY LLC is operational, users in New York State will have access to eToro’s virtual portfolio, integrated social investing tools and be able to trade stocks, crypto and options.
Yoni Assia
Yoni Assia, Co-founder and CEO of eToro, commented:




   



    
   


   








“Securing our BitLicense and Money Transmitter License in New York is a key milestone in the continued expansion of our US business and a testament to the commitment of our team in partnering with regulators and state entities. eToro combines the community led approach of social media with intuitive investing tools and prides itself on the simplicity of its user experience. On eToro users can learn, practice, invest and share ideas.”
Recent E-toro research shows that 45% of American retail investors say they currently invest or plan to invest in crypto. The research also reveals the resilience of investors despite the bear market. Investors are looking for opportunities, while also hedging in case prices fall further. They are thinking long term and focusing on their goals.
eToro remains a long-term supporter of crypto and diversified investing at large. Earning the badge of an ‘innovator’ means working closely with regulators, both in the US and globally, to shape the future of the crypto industry.

This article first appeared on fintechnews.am

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/etoro-secures-new-york-virtual-currency-and-money-transmitter-license</link><guid>3081</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/03/Fintech-DACH-Trends-New-Banking-im-2023-300x250.jpg?x30842</dc:content ><dc:text>eToro secures New York Virtual Currency and Money Transmitter License</dc:text></item><item><title>TWINT Reaches 5 Million Users Milestone</title><description><![CDATA[TWINT starts the new year by achieving the milestone of 5 million active users. Transaction figures are also setting records, with users of the TWINT app having twinted around 386 million times in 2022. This is higher than the number of transactions for all previous years since the founding of TWINT combined.
TWINT continued its strong growth in 2022. More and more people in Switzerland count on the app in all sorts of everyday situations and in January the app passed the mark of 5 million active users. This is a milestone, as more than half of the people in Switzerland use the versatile features of the app. However, this was not the only record that TWINT was able to achieve in the past year. TWINT users carried out a total of 386 million transactions in 2022. This is more than in all of the previous years since the app was launched combined.





   



    
   


   








Markus Kilb
“We are delighted that more than half of the people in Switzerland now count on TWINT in their day-to-day lives”,
explains Markus Kilb, CEO of TWINT.
“TWINT has become a symbol for the digital simplification of everyday life. What’s more, it has made Switzerland one of the leading countries in Europe in terms of mobile payments”.
Whether paying at the cash register, online, at farm shops or when visiting the cinema with friends, the possible applications of TWINT are growing just as steadily as its use. While the app is most frequently used at the supermarket checkout, it is also very popular for purchasing tickets for public transport, paying parking fees and for shopping in neighbourhood stores and specialist retailers.


Featured image credit: TWINT
]]></description><link>https://fintechnews.eu/twint-reaches-5-million-users-milestone</link><guid>3080</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Annual-TWINT-transactions.png?x30842</dc:content ><dc:text>TWINT Reaches 5 Million Users Milestone</dc:text></item><item><title>Top 25 Upcoming Fintech Events for Swiss Fintech Entrepreneurs in 2023</title><description><![CDATA[It has been a challenging couple of years for the global fintech industry, which has suffered from the stubborn COVID-19 virus, geopolitical turmoil and the stock market slump. The landscape is now changing at a rapid pace, introducing both new challenges and opportunities for companies in the sector.
To keep up with this fast evolving space, a plethora of fintech conferences are being organized across the world, aiming to bring together industry stakeholders to discuss the industry’s most urging issues and hottest trends.
For Swiss fintech entrepreneurs and business leaders looking to meet with their peers, build meaningful connections and learn about the sector’s latest developments, we shortlisted the top 25 of fintech events to attend.




   



    
   


   








These large scale events are expected to bring together global fintech innovators, leaders and policymakers to discuss emerging trends in the space and tackle pressing issues, including sustainability, data sharing and cybersecurity.
The Future of Fintech – Embedding Finance
February 23, 2023
F10 Office, Zurich, Switzerland


Future of Fintech: Embedding Finance is networking event that will take place on February 23, 2023 in Zurich, Switzerland. The event will focus on the importance of embedding finance to the financial industry and will feature a panel of experts who will share their views and predictions for the sector in 2023 and beyond.
The first and third part of the event will be dedicated to a networking session where participants will get to connect with founders, their senior team members, venture capitalists (VCs), and others who work within the fintech industry.
Speakers:

Paul du Plessis, Sr. Fintech Business Development Manager, AWS
Ben James, Founder and CEO, TP24
Marc Hauser, Head of Europe &amp; Managing Partner, F10
Peter Hofmann, Board member, entrepreneur &amp; investor
Berhan Kogel, Co-Founder, ARF

Join now: https://resources.doit.com/
Insurtech Insights Europe 2023
March 01-02, 2023
InterContinental London – The O2, London, England


Europe’s largest insurtech conference is coming back to London on March 01 and 02, 2023 for an event that’s set to gather over 6,000 attendees.
Insurtech Insights Europe 2023, which will take place at the InterContinental London, will feature some of the most well-renowned speakers in all of Europe, who will share their insights and learnings from being in the top of the industry.
Key topics to be covered include engaging with insurtech startups, environmental, social and governance (ESG) frameworks, artificial intelligence (AI) and data analytics, new digital business models, and more.
IFZ Fintech Conference 2023
March 08, 2023
Lucerne University of Applied Sciences and Arts, Institute for Financial Services Zug IFZ, Campus Zug-Rotkreuz, Switzerland


The fintech market in Switzerland is growing. In order to do justice to this development, the Institute for Financial Services Zug (IFZ) of the Lucerne University of Applied Sciences and Arts holds the IFZ Fintech Conference every year.
This year’s event will focus on current challenges faced by the industry and tackle questions such as:

What were the influences of financial technology on the entire economy?
What are the opportunities for Switzerland that result from this? and
What are the results that are relevant for fintech companies?

The IFZ Fintech Conference will also feature the presentation of the IFZ Fintech Study 2023 with statistical figures, and experts will provide insights into various examples of practice and implementation. The presentations will be in English or in German. There will be no simultaneous translation.
FinovateEurope 2023
March 14-15, 2023
Intercontinental O2, London, England


FinovateEurope is coming back to London on March 14 and 15, 2023, allowing participants to reconnect face-to-face with the fintech community.
This year’s event will feature 35+ live demos of innovative fintech solutions, expert advice from 100+ key influencers, and unparalleled networking opportunities with 1,000+ senior attendees.
Key topics covered in 2023 will include customer experience, hyper-personalization, customer verification, financial crime and cyber threats, embedded finance and banking-as-a-service (BaaS).
Paris Blockchain Week
March 20-24, 2023
Paris, France


Paris Blockchain Week is one of the most influential global events in the blockchain industry where some of the greatest minds meet in person. It’s where business leaders, investors, entrepreneurs, developers gather to ideate and drive progress, and where renowned speakers from the best blockchain and Web3 companies in the world share their stories and insights on the market and its prospects.
The fourth edition is set to welcome 10,000+ attendees, 400+ speakers, 300+ sponsors, 60% C-level+ executives, 400+ media partners and journalists. It will be held from March 20 to 24, 2023 at the carrousel du Louvre in Paris.
BIS Innovation Summit 2023
March 21-22, 2023
BIS Tower, Switzerland


The BIS Innovation Summit, taking place on March 21 and 22, 2023, will bring together global policymakers, senior executives from the financial and technology industries, and academics to discuss how technological innovation could help central banks and financial markets to navigate uncertain times and, at the same time, disrupt the landscape in which central banks and financial intermediaries operate.
Key topics to be covered include technological innovation in payments, central bank digital currencies (CBDCs), the on-going crypto winter, cross-border payments, AI and machine learning (ML), the effect of technological innovation by bigtechs and fintechs, and more.
Find out more here: https://www.bis.org/events/
Blockchain In Financial Services 2023
March 22, 2023
Gottlieb Duttweiler Institute, Ruschlikon, Switzerland


The crypto world has taken a hit due to geopolitical uncertainty. Nevertheless, blockchain technology remains a central cornerstone in the innovative power of the financial industry.
This year’s edition of the Blockchain in Financial Services 2023 conference will be dedicated to the latest trends in the industry. The gradual path to Web 3.0 holds many opportunities for the financial landscape. But what exactly will this Web 3.0 look like? What role will financial institutions play and what other opportunities does the new type of Internet hold?
The event will bring forward thinkers from the crypto scene together with decision-makers from the financial center to assess strategic opportunities and risks and to help shape the future of a decentralized financial economy.
The conference will also provide insights beyond national borders and shows how Estonia has blossomed into a digital island and has become a global leader in e-governance, exploring how the system has built a bridge to the financial sector and what implications it has for the sector.
Register now: https://www.fuw-forum.ch/blockchain-in-financial-services-2023
Investors’ Forum 2023
March 22-23, 2023
Geneva, Switzerland


The Investors’ Forum is the annual flagship event of Invest Europe. The forum brings together leading limited partners (LPs) and general partners (GPs) for an exceptional conference that is recognized throughout the private equity industry for the quality of its content and the caliber of its delegates.
The event is designed to provide participants with the latest industry insights and data, high-level peer-to-peer debate and networking opportunities in a non-commercial environment.
Attendance is open to pre-qualified institutional investors and Invest Europe member GPs and LP fund-of-funds only.
Register now: https://myevents.investeurope.eu/MyEvents/Contacts
Finance 2.0 – Crypto Assets ‘23
March 29, 2023
Kaufleuten Restaurant, Zurich, Switzerland


Crypto assets have experienced rapid growth until the bad news of the billion dollar bankruptcy of FTX, one of the largest crypto exchanges in the world. Everyone has now become aware of the complexity of this asset class. The market has taken a big hit, but the industry will come out of this crisis stronger.
Where is the crypto journey heading? What do professional investors need to keep in mind? What are the opportunities versus the risks? All these questions will tackled at the Finance 2.0 – Crypto Assets ’23 conference on March 29, 2023 in Zurich, Switzerland.
UK Fintech Week 2023
April 17-21, 2023
UK


The annual UK Fintech Week is returning on April 17 to 21, 2023, bringing together fintech founders, entrepreneurs, investors, bank ex-cos, regulators, policy-makers, academics and media from around the world to learn, discuss, debate and network.
The UK Fintech Week’s flagship event, the Innovate Finance Global Summit (IFGS) will kick off the five days of world-class content and convene industry leaders to one place for two-days of thought-provoking discussion.
The summit’s agenda will shine a spotlight on the global fintech ecosystem, with an increased focus on the key areas that are enhancing, empowering and ensuring that fintech and financial services pave the way for economic growth, sustainability, and a financial system that caters for all.
Key themes to be covered include:

ESG meets fintech: the true impact of financial innovation
The fintech talent pipeline and jobs of the future
Fintech investment: a global outlook
Emerging trends shaping the future of finance
Financial inclusion and wellness: fintech at the heart of it all
Global collaboration and competitiveness
Positioning culture at the core
Data, tech and regulation
NetZero: fintech in the driving seat
Keeping up with the regulators

The UK is a leader in financial innovation. Its place at the center of global financial services, with supportive regulation, access to world-class talent, and a rich investment landscape has made it a hotbed of startups and established fintech companies.
Swiss Bitcoin Conference
April 27-30, 2023
Kreuzlingen, Switzerland


The Swiss Bitcoin Conference will take place from April 27 to 30, 2023 in Kreuzlingen,
the largest Swiss city on Lake Constance. The event will bring together the German-speaking Bitcoin community and feature exciting lectures, talks, discussions, workshops and above all plenty of networking opportunities.
The event offers space for 800 participants who are expected from the Lake Constance region and the four-country triangle of Switzerland, Germany, Austria and Liechtenstein.
Register here: https://swiss-bitcoin-conference.com/
Finanz’23
May 03-04, 2023
Halle 550, Zurich, Switzerland


On May 3 and 4 2023, the 24th edition of Switzerland’s largest financial fair will take place in Halle 550 in Zurich Oerlikon. Finanz’23 is designed solely for professional investors such as asset managers, private bankers, family offices, insurers, pension funds, etc.
The event will bring together traditional asset management companies and young companies from the crypto, blockchain, and fintech world, and will offer visitors almost 100 lectures.
These include roundtables, specialist panels, training seminars, keynote speeches, and exhibitor presentations featuring top speakers.
As usual, leading names from the worlds of business, finance, research, academia and politics will be present. Topics relating to the worlds of crypto, blockchain, and fintech will be discussed in the Open Forum.
13th NextGen Payments and Regtech Forum
May 11-12, 2023
Marriott Hotel, Zurich, Switzerland


The 13th NextGen Payments and Regtech Forum, taking place on May 11 and 12, 2023, will bring together global key influencers, innovators, strategists, and thought leaders in payments and regtech.
Attendees will get to participate in exciting discussions around the latest market trends, digitalization, regulations, innovation, and technology and take advantage of impactful networking opportunities.
Key topics to be covered include the fintech sector in Lithuania, customer experiences, mitigating regulatory risks and personal liability, the digitalization of investment advisory services, financial crime, payments in the metaverse, and more.
Register now: https://www.qubevents.com/13th-npf-zurich
Paris Fintech Forum – Leaders Summit
May 30-31, 2023
Paris, France


The Paris Fintech Forum – Leaders Summit is a two-day event featuring insightful panels, interviews and masterclasses. It focuses on providing the platform for the global fintech industry to learn and exchange about the future of fintech.
This year’s event will feature three stages and some 100 speakers, hand-picked among the most fascinating voices of finance and technology, in all verticals: banking, insurance, fintech, regulators, crypto and digital assets, payments, regtech and more. All stages will be limited in capacity and organized to enable in-depth Q&amp;A sessions.
On day 2, the PFF Fintech Awards will be held with more than 40 fintech CEO pitches.
2023 Crypto Valley Conference
June 01-02, 2023
Rotkreuz, Switzerland


The 5th edition of the Crypto Valley Conference, taking place on June 01 and 02, 2023, will provide a two-day event featuring in-depth discussions on the current state and future of blockchain technology.
The event is set to bring together more than 1,500 attendees, over 60 speakers, 25+ exhibitors and more than 200 companies. Topics to be covered include the development of decentralized exchanges (DEXs), blockchain VC, staking, regulation, cybersecurity, sustainability, gamefi, tokenization, and infrastructure.
Event highlights include:

Master classes held by the top industry leaders offering deep insights, best practices and technical solutions;
40+ presentations from global industry leaders;
Covering topics on technology, economy and finance and legal and regulation;
Attendees from startups, corporate, academia and governments;
Companies showcasing their latest products and services;
Panel discussions challenging opinions live on stage; and
Legendary boat cruise party on lake Zug to close the conference.

Money20/20 Europe 2023
June 06-08, 2023
Rai Amsterdam, Amsterdam, Netherlands


Money20/20 is the largest global fintech event enabling payments and financial services innovation. This year’s Europe edition will be held from June 06 to 08, 2023 at Rai Amsterdam in the Netherlands and will bring together global leaders to discuss the industry’s hottest trends and most pressing challenge.
In 2022, Money20/20 Europe brought together fintech’s biggest and brightest stars for three days that shook the industry. Full of boundary-pushing insights and legendary keynotes, Money20/20 had over 7,500+ attendees.
Register now: http://bit.ly/3X6onhl
Reuters Events: Transform Payments USA 2023
June 13-14, 2023
Austin, USA


As the pace of fintech disruption moves at a relentless speed, the business of payments stands at the precipice of significant returns. BaaS operating models, next-gen cryptocurrencies, BNPL innovations and ubiquitous real-time payments are enabling money to move in new ways, sending shockwaves through traditional payment systems. This makes 2023 a critical year for partnerships and collaboration, in an industry set to be worth US$3 trillion by 2026. Yet with disruption, comes opportunity.
Reuters Events: Transform Payments USA 2023 will unite 150+ senior executives from across the banking, payments and regulatory ecosystems to discuss the future direction of the industry.
From the implications of instant payments maturity, to finding harmony between regulation and innovation; from elevating the treasury experience through next-generation technologies to preparing for a new age of cyber security and fraud, Reuters Events will bring together a forum of global financial institutions and their network of partners to reimagine how the world pays.
Viva Technology 2023
June 14-17, 2023
Expo Porte de Versailles, Paris, France


Viva Technology, one of the Europe’s biggest startup and tech events, is coming back for its 7th edition on June 14 to 17, 2023 in Paris at the Expo Porte de Versailles. Over four days, the event will bring together in Paris the most disruptive topics in technology, the entrepreneurs who are changing the rules, and the world’s biggest technological breakthroughs, creating an ecosystem conducive to business.
This year’s event will articulated around ten themes:

Energy and climate tech
Scaling up
Cybersecurity
Artificial intelligence
Foodtech
Future of sport
Deeptech
Building future societies
Creator’s economy the metaverse and gaming, and
Web 3.0

TNW Conference
June 15-16, 2023
Taets Art and Event Park, Amsterdam, the Netherlands


The annual TNW Conference is where industry leaders and tech enthusiasts alike come together, to explore how tech will shape the world of tomorrow. Participants get insights from industry pioneers, and meet international tech executives, policymakers, startups, and scale-ups.
This year’s TNW Conference will take place at Taets Art and Event Park in Amsterdam on June 15 and 16, 2023, and will cover 11 themes, among which “the Future of Finance.” This theme will explore how the development of new technologies, such as the blockchain, the metaverse, and CBDCs are transforming the financial sector, including both legacy banks and fintech company, and the opportunities and challenges that come with them.
Cryptomonnaie Suisse 2023
June 22-24, 2023
Zurich HB, Zurich Switzerland


Cryptomonnaie Suisse 2023 is a public blockchain fair that will take place from June 22 to 24, 2023 in Zurich, Switzerland. The event is set to bring industry leaders and companies from Switzerland and abroad to discuss and explore the industry’s latest developments and trends relating to cryptocurrencies, blockchain technology, non-fungible tokens (NFTs) and the metaverse.
Point Zero Forum
June 26-28, 2023
The Circle at Zurich Airport, Zurich, Switzerland


The Point Zero Forum is an annual invitation-only fintech conference jointly organized by Switzerland and Singapore.
This year’s event will take place in Zurich from June 26 to 28, 2023, and will convene central bank governors and industry leaders. It’s set to bring together 1,000 policymakers, financial services leaders and investors to drive adoption and growth of transformative technology, as well as assess and promote the appropriate governance and risk frameworks.
Key themes this year will include digital assets, tokenization and distributed ledger technology (DLT), technology for ESG and generative AI.
Global Sustainable Digital Finance Forum
July 06, 2023
Zurich


Taking place on July 06, 2023, the Global Sustainable Digital Finance Forum is an international and interdisciplinary conference focusing on novel approaches in sustainability driven by fintech and insurtech.
The forum will focus on research and innovations that address challenges in the field of banking and finance, insurance, IT, business management, law, regulation, society and many others. The examples range from using AI to analyze sustainability data along value chains for improving risk management to CBDCs to enable financial inclusion.
Together, speakers and participants will explore how organizations and people can leverage fintech and insurtech to develop a more sustainable world. By considering myriad disciplines and research fields, the conference participants from academia, business, non-profit, and government will share concepts on how sustainability can lead to innovative solutions that address today’s challenges.
The Global Sustainable Digital Finance Forum will take place on July 6 in Zurich and is supported by Innosuisse as a networking event series on Sustainable Digital Finance. The forum also has formed an exclusive partnership with the Impact Finance Forum, a practitioners’ conference which takes place on July 5, 2023 and the World Bank Group which both support the Global Sustainable Digital Finance Forum.
Swiss Fintech Fair 2023
September 08, 2023
SIX ConventionPoint, Zurich, Switzerland


The Swiss Fintech Fair is where Switzerland’s most powerful fintech conversations and connections happen in real life.
This year’s event will take place on September 08, 2023, and is set to bring together more than 800 attendees from Swiss and international banks, insurance carriers, financial and governmental institutions as well as fintech companies and technology providers.
The 2023 edition will also feature the new Swiss Fintech Fair Startup Challenge and Green Fintech Focus Stage. The startup challenge will allow promising young companies to pitch their products in front of an expert jury. The winners will be awarded and publicly announced.
The Green Fintech Focus Stage will be hosted in partnership with the Green Fintech Network and will provide thematic in-depth dive into sustainability developments.
Digital Integration In Wealth Management Switzerland 2023
October 04-05, 2023
Zurich, Switzerland


The Digital Integration in Wealth Management Switzerland Conference, taking place on October 04 and 05, 2023, will bring together digital leaders from private banks and wealth management firms to provide a strategic roadmap for integrating digital tools.
Participants will get to learn how digital integration can enhance their wealth offering and client experience; discover the latest innovations in AI, automation, robo advice, digital client journeys, and next-generation client values; listen to concrete digital case studies from wealth managers in the Swiss market; and meet with peers from across the region to discuss digital innovation in wealth management.
With high-level talks and discussions delivered by senior guest speakers, attendees can expect to discover the strategies, tools, and processes powered by innovation and client-centric values to meet cross generational needs and thrive in a digital age.

Web Summit 2023
November 13-16, 2023
Altice Arena and Fil, Lisbon, Portugal


Web Summit is an annual technology conference held in Lisbon, Portugal. The conference’s topics center on Internet technology, emerging technologies, and VC. Web Summit’s partners range from Fortune 500 companies to start-ups, with attendees representing all levels and sectors of the global high technology industry.
This year’s edition will take place from November 13 to 16, 2023, and is set to bring together 70,000+ people, and the companies redefining the tech industry.
At a time of great uncertainty for many industries and, indeed, the world itself, the summit will gather policymakers, heads of state, and the founders and CEOs of technology companies and fast-growing startups, to ask a simple question: Where to next?
Register now: https://websummit.com/
]]></description><link>https://fintechnews.eu/top-25-upcoming-fintech-events-for-swiss-fintech-entrepreneurs-in-2023</link><guid>3079</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Top 25 Upcoming Fintech Events for Swiss Fintech Entrepreneurs in 2023</dc:text></item><item><title>Apple Readies BNPL Launch</title><description><![CDATA[Apple is running an internal test of its buy now, pay later (BNPL) product, gearing up for the public release of the new service in the US. The feature, which was announced at the Worldwide Developers Conference 2022, is currently being trialed by Apple employees and will be “launching soon,” Apple CEO Tim Cook told CNBC in an interview.
Announced in June 2022, Apple Pay Later is a new BNPL product that aims to let users split up the cost of a purchase made with Apple Pay into four equal installments over six weeks without charging any fee or interest. The service is meant to be integrated with the mobile payment service as well as Apple Wallet, allowing users to track what they owe and when they owe it.
A new report by Bloomberg’s Apple and consumer tech reporter Mark Gurman revealed that the company could launch Apple Pay Later in the coming week after releasing the test to thousands of retail employees earlier this month.




   



    
   


   








Details of the scheme’s mechanism and criteria were shared to the reporter, revealing that the service evaluated borrowers based on their spending history, which Apple devices they own, and whether or not they had applied for an Apple Card credit card or other cards linked to their Apple Pay accounts. The evaluation determined whether or not the company was willing to lend money to the applicant and how big that amount would be. Many testers said they saw loan approvals for US$1,000 and under.
An Apple Pay Later loan offer would expire after 30 days, the report says, and applications would sometimes require a copy of a government identification card, full social security number and two-step verification on an Apple account.
Apple Pay Later mockup, Source: Apple.com
Apple Pay Later was initially slated to be released in the autumn 2022 as part of the company’s new operating system, iOS 16. The service, however, did not debut in September 2022 with the release.
“This leads me to believe that the company isn’t completely certain when Apple Pay Later will be ready for launch. It’s possible the feature won’t arrive until iOS 16.4 in the spring,” Bloomberg’s Gurman wrote in his Power On newsletter. “I’m hearing there have been fairly significant technical and engineering challenges in rolling out the service, leading to the delays.”
Apple’s forthcoming BNPL scheme is part of a broader push into financial services which the tech giant perceives as a big growth opportunity. The firm is betting on new services to help sustain growth and expand beyond consumer electronics and software.
Apple’s products sales for the end of the year quarter were down more than 7% compared to the same period in 2021, according to the company’s Q1 2023 financial results. Net services sales, however, grew by more than 6%, reaching an all-time revenue record of US$20.8 billion.
BNPL has been one of the fastest-growing fintech segments over the past years. According to Worldpay, BNPL accounted for 3.8% of North American e-commerce transaction value in 2021, more than double its share the year prior (1.6%). By 2025, BNPL is projected to more than double again to 8.5% of regional e-commerce transaction value in the region.
Apple’s fintech moves
Apple Pay Later will mark the first time the company uses an in-house payment platform and conducts lending itself. Last year, it established a wholly-owned subsidiary called Apple Financial that’s meant to handle applications, lending and credit approvals from Apple Pay Later.
A Bloomberg report also revealed in June 2022 the secret “Breakout” initiative kickstarted by the company. The plan is allegedly seeking to bring more financial services capabilities, including payment processing, risk and fraud analysis, credit checks, subscription programs for hardware purchases, and BNPL, in-house, further hinting at a desire from Apple to reduce its dependency on third parties and banking partners.
Apple entered the financial services space in 2014 with the launch of its Apple Pay mobile payment service. This was followed in 2017 by the introduction of Apple Cash, a solution that allows users in the US to send and receive money, hold an Apple Cash balance and transfer money back to a bank account easily.
In 2019, it launched the Apple Card, a credit card created by Apple and issued by Goldman Sachs. The card is designed primarily to be used with Apple Pay on Apple devices such as an iPhone, iPad, Apple Watch, or Mac. It’s currently available only in the US and clocked 6.7 million American cardholders in early 2022.
Besides the forthcoming Apple Pay Later, other consumer fintech products are reportedly in the works, including the Apple Savings account, a “high-yield” interest-bearing savings account that will be administered by Goldman Sachs.
Apple, which has been operating in the finance market for less than a decade, has nevertheless managed to gain a notable foothold in a relatively short period of time.
According to a 2023 report by Dutch consultancy and mergers and acquisitions advisory firm Flagship Advisory Partners, Apple controlled an estimated US$800 billion worth of payments in 2022.
About 3% of all Visa and Mastercard consumer card value and 10-12% of Visa and Mastercard card transactions in North America and Europe went through Apple Pay last year, the report claims, making the American tech firm a significant fintech player globally.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/apple-readies-bnpl-launch</link><guid>3078</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Apple Readies BNPL Launch</dc:text></item><item><title>Fintech Accelerator F10 Rebrands as Tenity to Reflect Global Status</title><description><![CDATA[Fintech innovation ecosystem and early-stage investor F10 announced that it will be rebranding as Tenity after eight years to reflect its global positioning.
Over the past weeks, Tenity has already started changing its visual identity and revamped its website.
Tenity said that the change of name and logo is the last step in completing its rebranding exercise.




   



    
   


   








F10 was first launched in Zurich by the SIX Swiss Exchange in 2015. Just a year later, it was spun off into an association with more corporate members and was well-established in Switzerland.
From 2020 onwards, Tenity went on a massive expansion drive with its first stop being Singapore and then setting up operations in Spain.
In April 2022, Tenity announced that it has secured a funding round as well as management buy-in by its executive leadership to become an independent entity.
Just last year, Tenity had incubated and accelerated 100 startups and its alumni raised more than US$ 200 million.
Tenity has expanded its operations from three hubs in three countries, to actively running programmes out of four hubs in seven countries.
It has also launched the a dedicated climate fintech incubator in Nordics and the Baltics.
The company said in a statement,
“Tenity stands both for our legacy, and our ambition – coming from ten, and growing to infinity. It also represents our independent state of mind. Tenity is a place where value and impact are created. A place where startups, corporates, and investors come together to create the future.

A place, where we make innovation work. While we are sad to say goodbye to F10, we are excited for what’s to come. The past eight years as F10 have been an incredible journey. Here’s to the future.”

[embedded content]
]]></description><link>https://fintechnews.eu/fintech-accelerator-f10-rebrands-as-tenity-to-reflect-global-status</link><guid>3077</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Fintech Accelerator F10 Rebrands as Tenity to Reflect Global Status</dc:text></item><item><title>Nuvei Now an Official Sponsor of Mercedes-AMG PETRONAS F1 Team</title><description><![CDATA[Canadian payments company Nuvei has entered into a multi-year sponsorship agreement with the Mercedes-AMG PETRONAS Formula One Team ahead of the 2023 F1 season.
From the 2023 Formula One™ season onwards, the Nuvei logo will appear on the helmet and overalls of the Mercedes-AMG PETRONAS Formula One Team drivers as well as pit crew overalls and team clothing.
Nuvei will also be able to utilise team members, including drivers Lewis Hamilton and George Russell, and Team Principal and CEO Toto Wolff for its wider marketing activities for customers, clients, and beyond.




   



    
   


   








The Nuvei branding will be unveiled at the Team’s 2023 F1 car launch later this week.
Listed on both the Nasdaq and Toronto Stock Exchanges, Nuvei offers payments processing services in more than 200 markets, including local acquiring in over 45 countries.
Toto Wolff
Toto Wolff, Team Principal and CEO of the Mercedes-AMG PETRONAS Formula One Team said,
“We’re thrilled to welcome Nuvei as a long-term partner in time for the start of the 2023 Formula One™ season. Nuvei has a reputation as a leader in its field with a global footprint.

It’s dedication to performance excellence through innovation aligns with our values, so we’re looking forward to a successful period working closely together as we share the Nuvei brand with our global audience and find more similarities between our approaches to success.”
Philip Fayer
Philip Fayer, Chair and CEO at Nuvei said,
“Being a people-first, technology-led business ourselves we identify strongly with the ethos of the team, which is just one of the reasons that we are incredibly excited to be joining the Mercedes-AMG PETRONAS Formula One Team family.

As a leading global payments company with a heritage of delivering the most agile and transformative payments technology in the market we know what it takes to sustain being at the cutting edge of innovation.”

This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/nuvei-now-an-official-sponsor-of-mercedes-amg-petronas-f1-team</link><guid>3076</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Nuvei Now an Official Sponsor of Mercedes-AMG PETRONAS F1 Team</dc:text></item><item><title>Siemens Issues First Digital Bond on Blockchain</title><description><![CDATA[Siemens is one of the first companies in Germany to issue a digital bond, in accordance with Germany’s Electronic Securities Act.
Worth 60 million, it has a maturity of one year and is underpinned by a public blockchain. Issuing the bond on a blockchain offers a number of benefits compared to previous processes. For instance, it makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary.
Ralf P. Thomas
“With our innovative products and technologies, Siemens supports the digital transformation of its customers with great success. It is therefore only logical that we test and utilize the latest digital solutions in finance, too. We are proud to be one of the first German companies to have successfully issued a blockchain-based bond. This makes Siemens a pioneer in the ongoing development of digital solutions for the capital and securities markets,”
said Ralf P. Thomas, Chief Financial Officer of Siemens AG.




   



    
   


   








It has been possible to issue blockchain-based digital bonds in Germany since the Electronic Securities Act came into effect in June 2021.
Siemens has used the new possibilities of the Electronic Securities Act and sold the securities directly to investors without engaging established central securities depositories. Payments were made using classic methods as the digital euro was not yet available at the time of the transaction. The transaction was able to be completed within two days.
Hauck Aufhäuser Lampe Privatbank AG acted as the bond registrar for the transaction. DekaBank, DZ Bank, and Union Investment invested in the bond.
]]></description><link>https://fintechnews.eu/siemens-issues-first-digital-bond-on-blockchain</link><guid>3075</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Siemens Issues First Digital Bond on Blockchain</dc:text></item><item><title>Digital Asset Infrastructure Provider Taurus Raises USD 65m Series B From Credit Suisse and Deutsche Bank</title><description><![CDATA[Geneva based Digital asset infrastructure provider Taurus annunced a USD 65 million Series B capital raise from strategic investors.
Taurus’ Series B round is led by Credit Suisse and includes participation from new institutional investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, as well as from Series A investors, Arab Bank Switzerland and Investis, a stock-listed real-estate group. Taurus co-founders, Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder and Dr. Jean-Philippe Aumasson, remain the largest shareholders of Taurus and at the helm of the Company. The transaction was approved by the Swiss regulator, FINMA.
The funds will be used to support Taurus’ growth strategy across three main priorities:(1) hire top engineering talent to further develop what is considered as the most complete platform in the industry;(2) get closer to clients and expand the sales and customer success organization of its infrastructure solutions with new offices Europe, UAE and soon after in the Americas and South-East Asia, and(3) maintain the most stringent security, risk and compliance requirements across product lines, processes and organizations.




   



    
   


   








The preferred platform for Tier 1 banks. Expanding client footprint with large consumer brands
Taurus already works with more than 25 financial institutions and corporate clients in eight countries and three continents, including systemically important financial institutions, retail and online banks, private banks, crypto-banks, investment banks, and broker-dealers. Amongst its clients are banks such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, Vontobel. These achievements allowed Taurus to establish itself as the #1 digital asset infrastructure provider for Tier 1 banks in Europe.
Lamine Brahimi
Lamine Brahimi, co-founder and Managing Partner of Taurus, said:
“Raising USD 65mn in the current market environment tells a lot about the quality of Taurus’ people and products. We are proud to welcome such high-profile investors and benefit from their expertise to further develop one of the richest platforms in the industry, covering any type of digital assets, way beyond cryptocurrencies.”
André Helfenstein
André Helfenstein, CEO, Credit Suisse (Switzerland) Ltd., commented:
“The strategic partnership with Taurus is a cornerstone of the Swiss Bank division’s digital assets strategy with the ambition to become the leading Swiss bank in that space. We continue to embrace new and innovative technologies and expect to soon launch several digital asset services for clients both on the issuing and the investment side.”
Sabih Behzad
Sabih Behzad, Head of Digital Assets and Currencies Transformation, Deutsche Bank, concluded:
“We will integrate Taurus‘ technology in our own IT environment. This will form a key part of our digital asset custody platform and will make it easier for us to develop and roll out our digital asset custody offering. Through this investment, Deutsche Bank is delighted to partner on the development of the market for digital assets.”
In April 2021, Taurus obtained a FINMA license as a securities firm and operator of an organized trading facility. In June 2021, Taurus launched a regulated marketplace for tokenized assets.

Featured image credit: Taurus co-founders (left to right): Lamine Brahimi, Dr Jean-Philippe Aumasson, Oren-Olivier Puder, Sebastien Dessimoz
]]></description><link>https://fintechnews.eu/digital-asset-infrastructure-provider-taurus-raises-usd-65m-series-b-from-credit-suisse-and-deutsche-bank</link><guid>3074</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Digital Asset Infrastructure Provider Taurus Raises USD 65m Series B From Credit Suisse and Deutsche Bank</dc:text></item><item><title>OneSpan Inks Deal to Acquire Aussie Blockchain Tech Provider ProvenDB</title><description><![CDATA[Cybersecurity technology company OneSpan has inked a deal to acquire Australia-based blockchain technology provider ProvenDB for an undisclosed sum.
The transaction is anticipated to close during the first quarter of 2023 and is subject to customary closing conditions.
Through this acquisition, OneSpan said that it plans to combine ProvenDB’s technology with its Transaction Cloud Platform.




   



    
   


   








This will provide an integrated end-to-end assurance model which includes a secure repository for documents and artifacts.
This complementary acquisition aims to expand OneSpan’s addressable market, solves customers’ secure vaulting needs, and secure digital agreements throughout the customer transaction lifecycle.
Matthew Moynahan
“We have an ambitious plan to disrupt the digital agreement market and ProvenDB will accelerate that plan.

OneSpan’s mission, the focus of our entire go-to-market strategy, is to restore trust and confidence in today’s most critical customer experiences, such as revenue-generating transactions or customer and vendor onboarding, and ensure that their integrity is never in question.”
said Matthew Moynahan, President and CEO at OneSpan.
Guy Harrison
“OneSpan’s expertise in digital identity and agreements married with ProvenDB’s blockchain-backed storage solutions will enable a paradigm shift in trust and integrity for digital agreements.

We are excited to join OneSpan to bring our technology to the digital agreement market.”
said Guy Harrison, CTO at ProvenDB.
This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/onespan-inks-deal-to-acquire-aussie-blockchain-tech-provider-provendb</link><guid>3073</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>OneSpan Inks Deal to Acquire Aussie Blockchain Tech Provider ProvenDB</dc:text></item><item><title>Tech Giants Ramp up AI Development Amid ChatGPT Frenzy</title><description><![CDATA[Since its release in November 2022, artificial intelligence (AI)-powered chatbot ChatGPT has sent the tech world abuzz. The viral application, which allows users to ask questions and then answer these questions with human-like responses, has triggered a heated race among bigtech companies.
Companies like Google, Microsoft and Baidu are all accelerating the development of their own AI chatbots, doubling down on the much-hyped generative AI, a term that refers to algorithms that are capable of creating new content, including text, audio and images.
Just this month, news broke that Google had invested almost US$400 million in AI startup Anthropic, a company that’s testing a rival to ChatGPT called Claude, a person familiar with the deal told Bloomberg.




   



    
   


   








Anthropic is an AI startup and public-benefit corporation co-founded by former employees of OpenAI, the company behind ChatGPT. The startup specializes in developing general AI systems and language models, with a company ethos of responsible AI usage.
image via Unsplash
Both Google and Anthropic declined a comment request from Bloomberg, but separately announced a partnership between one another, which will see the startup use Google’s cloud computing services. Anthropic said in a statement that the tie-up “is designed so that the companies can co-develop AI computing systems.”
The news of the Google-Anthropic deal preceded by just a few days the unveiling of Google’s new AI chatbot tool. Called Bard, the conversational AI service is powered by the firm’s Language Model for Dialogue Applications (LaMDA) and uses information found on the web to formulate responses. Bard is currently opened to “trusted testers” but the company plans to make it available to the public in the coming weeks.
Google’s recent AI initiatives are another testament of the firm’s commitment to the technology and showcases how the company intends to use AI to enhance its search business. Alphabet CEO Sundar Pichai said in the firm’s fourth quarter earnings report that Google planned to release chatbots “in the coming weeks and months” and intended for consumers to use these products “as a companion to Search.”
OpenAI’s ChatGPT quickly went viral after its release on November 30, 2022, impressing both users and technologists with its ability to mimic human language and speaking styles, all the while providing coherent and topical information.
The AI chatbot surpassed one million users in just five days, and in January, it surged past the 100 million monthly active users mark, becoming the fastest-growing consumer app in history, according to analysts at Swiss bank UBS.
The rise of ChatGPT has sparked a frenzy in the tech community and prompted most industry leaders to ramp up AI development.
In January, Microsoft invested a staggering US$10 billion in OpenAI, a deal that marked the third phase of the partnership between the two companies and which followed previous investments from the tech giant in 2019 and 2021.
The capital infusion was followed shortly after by the announcement that Microsoft’s Bing search engine and Edge web browser will be enhanced with AI chatbots.
The new AI-powered Bing application, which was made available in preview on February 07, runs on a more advanced and powerful OpenAI large language model than the one that underpins ChatGPT, the company said in a statement. The model was customized for search and aims to “unlock a completely new way to interact with the web” by “reimagining how [users] interact with search, browser and chat by pulling them into a unified experience,” it said.
Chinese tech giants follow suit
The past couple of weeks have also seen a growing number of Chinese tech firms announcing their own AI chatbot projects, showcasing how far the buzz around OpenAI’s ChatGPT has spread.
This month, Chinese search giant Baidu said that it will soon launch a bilingual AI text generator called Ernie Bot. Ernie, which stands for Enhanced Representation through Knowledge Integration, will be able to perform tasks including language understanding, language generation and text-to-image generation, the company said.
Ernie Bot is based on a language model of the same name that Baidu introduced in 2019. According to the firm, the model has 260 billion parameters, making it larger than ChatGPT’s current GPT-3 training model, which has 175 billion parameters.
A person familiar with the matter told Reuters in January that the initial plan is for Ernie Bot to exist as a standalone app, before being gradually integrated into Baidu’s search engine.
Internal testing of the chatbot will likely be completed in March, following which the app will be made available to the public.
Similarly, e-commerce giant Alibaba announced last week a ChatGPT-style tool. Designed for its cloud computing customers, the app is currently in internal testing. No timetable for service launch has so far been provided.
JD.com, one of the China’s top three online retailer platform operators, is also looking to launch a product similar to ChatGPT. The product, called ChatJD, will be aimed at serving other businesses.
And Tencent, a multinational tech conglomerate and the owner of China’s leading super-app WeChat, said last week that it was conducting research on generative AI. A company representative told the South China Morning Post that a strategy in related technologies had already been laid out.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/tech-giants-ramp-up-ai-development-amid-chatgpt-frenzy</link><guid>3071</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Tech Giants Ramp up AI Development Amid ChatGPT Frenzy</dc:text></item><item><title>Worldpay: FIS Announces Plans to Spin off Merchant Business</title><description><![CDATA[FIS announced plans to pursue a tax-free spin-off of its Merchant Solutions business to strengthen its strategic and operational focus, capitalize on growth opportunities and unlock shareholder value. The two companies expect to maintain a strong commercial relationship, preserving a key value proposition for clients of both businesses. FIS expects the spin-off to be completed within the next 12 months.
FIS’ Board and management determined as part of their previously announced and ongoing strategic review that a spin-off of Merchant Solutions, to be named Worldpay, offers the best path to enhance shareholder value, including by:

Increasing strategic and operational focus to capitalize on growth and margin potential
Aligning capital allocation and capital structures with long-term growth targets and underlying market needs, including potentially participating in M&amp;A
Enhancing the ability to align talent with shareholder returns, including through competitive and focused equity compensation programs





   



    
   


   








Jeffrey A. Goldstein
“In evaluating a broad range of alternatives as part of our previously announced comprehensive assessment of FIS’ strategy, businesses, operations, and structure, FIS management and the Board concluded that the spin-off of Worldpay will unlock shareholder value by improving both companies’ performance, enhancing client services, and simplifying operational management,”
said Jeffrey A. Goldstein, Chairman of the Board.
“We are confident that this is the right time for the separation of Worldpay. The pace of disruption in payments is rapidly accelerating, requiring increased investment in growth and a different capital allocation strategy for our Merchant Solutions business. This spin-off will create two industry-leading, publicly traded companies with sharper focus and increased agility, each well positioned to capitalize on the significant value creation opportunities ahead in their respective markets.”
Worldpay
Upon completion of the proposed spin-off, the Merchant Solutions business will operate as Worldpay, reestablishing and strengthening a brand that remains highly trusted among clients and partners.
Worldpay, the largest global merchant acquirer1 by transactions with $2 trillion in payments volume in 2022, will remain a leading provider of integrated payment technology solutions for eCommerce, enterprise, and small and medium sized businesses (SMB). Worldpay is a leader in cross-border eCommerce, with $4.8 billion of revenue and $2.3 billion of Adjusted EBITDA in 2022. The business’ revenue was comprised of 43% enterprise, 27% SMB, and 30% eCommerce in 2022.
As an independent, publicly traded company, Worldpay is well positioned to benefit from exposure to secular high-growth markets globally, extensive domain expertise and portfolio breadth, strong long-term and marquee client relationships, and global distribution and scale. In addition, with a different capital allocation strategy, Worldpay will be able to pursue more aggressive investment opportunities, including M&amp;A, in order to:

Expand in eCommerce – expanding geographic coverage and payment optimization
Strengthen its Enterprise Offerings – leveraging its powerful value proposition to drive next-generation omni-channel experiences and enterprise commerce
Transform SMB – shifting towards software-led payments while providing integrated software vendors (ISVs) with embedded finance capabilities

FIS announced Charles Drucker has been appointed as a strategic advisor to aid with the spin-off process, effective immediately. The Company also announced today that, if the spin-off is completed as expected, he will serve as CEO of Worldpay. Drucker, a proven value creating CEO who previously served as CEO of Worldpay, brings decades of experience within the financial technology industry and a strong track record of shareholder value-creation.
The remainder of the Worldpay Board of Directors, management team, and headquarters will be announced at a later date. Worldpay and FIS will continue to maintain a commercial relationship to deliver critical capabilities like embedded finance and loyalty through premium payback, with customary commercial agreements in place to ensure continuity for clients.
FIS
Following the proposed spin-off, FIS will remain a leading provider of financial technology solutions for financial institutions, capital markets firms, clients and corporates globally. FIS’ Banking and Capital Markets businesses generated $9.5 billion of revenue and $4.2 billion of Adjusted EBITDA in 2022, excluding Corporate and Other. The Company will continue to benefit from its strong brand in the financial services sector, extensive domain expertise and portfolio breadth, strong long-term and marquee client relationships, and its global distribution and scale.
As a simpler, more focused organization, FIS will be better-positioned to deliver compounding returns by leveraging its best-in-class suite of banking and capital markets technology solutions to meet individualized client needs. FIS will drive improved performance and outcomes through a multi-part strategy that includes:

Enhancing focus on the distinct needs of global and local financial institutions, with a management team and investment agenda tailored to evolving client needs
Driving disruption through a modernized technology stack, building out its digital and modernization platforms such as Digital One, Payment One, Unity and Modern Banking platform
Optimizing investment and capital return through a transparent capital allocation strategy with a balance of organic investment, complementary M&amp;A, dividends and share repurchases

Following the separation, Stephanie Ferris will continue to serve as chief executive officer of FIS with FIS headquarters remaining in Jacksonville, FL.
Transaction Details
Through this transaction, FIS shareholders will receive a pro rata distribution of shares of Worldpay stock in a transaction that is expected to be tax-free to FIS and its shareholders for U.S. federal income tax purposes. The actual number of shares to be distributed to FIS shareholders will be determined prior to closing, as will the specific transaction structure.
FIS is committed to optimizing strong capital allocation strategies for each business that align with each business’s long-term goals. Further details related to transaction costs and the companies’ respective capital structures, governance and other elements of the transaction will be announced at a later date.
Pathway to Completion
FIS is planning for the separation to be completed within the next 12 months. The proposed separation is subject to customary conditions, including final approval by the FIS Board of Directors, receipt of a tax opinion and a private letter ruling from the Internal Revenue Service, the filing and effectiveness of a Form 10 registration statement with the U.S. Securities and Exchange Commission and obtaining of all required regulatory approvals. No assurance can be given that a spin-off will in fact occur on FIS’ desired timetable or at all.


This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/worldpay-fis-announces-plans-to-spin-off-merchant-business</link><guid>3072</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Worldpay: FIS Announces Plans to Spin off Merchant Business</dc:text></item><item><title>Deutsche Börse and Google Cloud Announce Strategic Partnership</title><description><![CDATA[Deutsche Börse and Google Cloud have announced a new strategic partnership to enhance, economize and concentrate Deutsche Börse’s cloud adoption.
Specifically, Deutsche Börse will leverage Google Cloud’s secure infrastructure and leading data and analytics capabilities to accelerate the development of its digital securities platform D7, innovate its digital asset market operations, and enhance its data distribution and data use cases in the cloud.
With its hybrid, multi-cloud strategy, Deutsche Börse Group has already successfully set new standards for cloud innovation within the financial services industry. Google Cloud will become Deutsche Börse Group’s preferred partner for cloud consumption for the next ten years and help to further enhance the group’s cloud adoption and efficiency.




   



    
   


   








Theodor Weimer
“Innovation and technological advancements are at the core of Deutsche Börse Group’s DNA,”
said Theodor Weimer, CEO at Deutsche Börse.
“To trailblaze changing market environments and not only meet but anticipate customer demand, it is key to couple our financial services expertise with the technological prowess of a true market heavyweight. Our deep market infrastructure understanding, combined with Google Cloud’s technology expertise and scale, will drive tangible success for our business and broader financial markets.”
Thomas Kurian
“Exchanges sit at the epicenter of the financial ecosystem and have an increasingly important role to play to drive the future of market innovation and efficiencies,”
said Thomas Kurian, CEO of Google Cloud.
“Our partnership with Deutsche Börse Group underscores the wide range of opportunities and benefits that secure and reliable cloud technology, data analytics, and AI can have for all market participants.”
With the partnership, Deutsche Börse Group and Google Cloud will accelerate the development of Deutsche Börse Group’s digital securities services platform, D7. The platform represents a new paradigm for handling the end-to-end processing of digital securities linked to existing legacy environments while also providing for interoperability with new environments based on distributed-ledger technology. The D7 platform will be underpinned by Google Cloud’s scalable and secure infrastructure and will have an intelligent data analytics layer powered by Google Cloud’s BigQuery and Analytics Hub, and Google’s leading data capabilities. The enhanced D7 platform will enable Deutsche Börse Group to deliver new applications, products and digital securities services to its customers and the wider financial industry. Deutsche Börse Group and Google Cloud will also jointly invest in strong regulatory controls and built-in security features to meet regulatory requirements, as applicable.
To innovate Digital Asset Business
The partnership also seeks to innovate Deutsche Börse Group’s digital asset business with an institutional-grade offering, including a Digital Assets Business Platform with a cloud-native market infrastructure, combining centralized and decentralized financial infrastructure to deliver crypto spot and derivatives products. Deutsche Börse Group aims to expand these capabilities to further asset classes over time.
Additionally, the two companies plan to jointly deploy a data mesh for several of Deutsche Börse Group’s data distribution and data use cases in the cloud. Google Cloud’s scalable and secure infrastructure will underpin the new platforms, paired with Google Cloud’s leading data and connectivity products.
While moving digitization in capital markets to the next level, the partnership will also put a strong focus on cyber security and adhering to existing regulation.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/deutsche-borse-and-google-cloud-announce-strategic-partnership</link><guid>3070</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>Deutsche Börse and Google Cloud Announce Strategic Partnership</dc:text></item><item><title>Crypto Money Laundering Reaches New Heights; Totaled US$23.8B in 2022</title><description><![CDATA[In 2022, cryptocurrency money laundering reached a new record, with illicit addresses sending US$23.8 billion worth of crypto, a figure which represents a 68% year-on-year (YoY) increase, new data from Chainalysis, an American blockchain analysis firm, show.
Total cryptocurrency laundered by year, 2015-2022 Source: Chainalysis, Jan 2023
Just under half of the funds sent from these addresses traveled directly to centralized exchanges, making these services the biggest recipients of illicit crypto, the report says.
Mainstream centralized crypto exchanges are critical services for money laundering, helping criminals turn their crypto into cash. This is despite being among the most heavily regulated crypto services, and being required to have compliance measures in place to report illegal activities and take action against the users in question.




   



    
   


   








Destination of funds leaving illicit wallets, 2017-2022, Source: Chainalysis, Jan 2023
An analysis of illicit fund transfers revealed that money laundering activity remained highly concentrated in 2022. A total of 915 unique crypto exchange services received illicit crypto last year, the lowest number Chainalysis has seen since 2012, the research found, yet, only five crypto exchanges managed to handle as much as 67.9% of all the illicit funds received by exchanges. The proportion represents an increased concentration compared to 2021, when the top five services received 56.7% of illicit funds.
The report highlights the different ways criminals use centralized exchanges to launder funds. First, some will just send the funds to an exchange where they have a personal account at and cash-out.
Others will work with specialized money laundering service providers who control the accounts and help them convert their crypto into cash once it hits the exchange. These businesses are nested services which are built on top of larger exchanges, using those platforms’ deposit addresses to access liquidity and trading pairs.
According to Chainalysis, a handful of nested services are responsible for the majority of crypto money laundering, with research revealing that four deposit addresses cracked US$100 million in illicit cryptocurrency received in 2022, and, combined, received over US$1 billion.
All illicit cryptocurrency received by fiat off-ramp service deposit addresses, 2022, Source: Chainalysis, Jan 2023
The report also highlights the rising usage of mixing services for illicit activity. A crypto mixer is a service that blends the cryptocurrencies of many users together to obscure the trail back to the fund’s original source.
Last year, mixers processed a total of US$7.8 billion, 24% of which came from illicit addresses. In comparison, in 2021, these services processed slightly more (US$11.5 billion) but only 10% of these funds came from illicit addresses.
According to Chainalysis, the vast majority of illicit value processed by mixers last year was made up of funds stolen by North Korea-linked hackers.
Yearly cryptocurrency received by mixers by source, 2016-2022, Source: Chainalysis, Jan 2023
Though mixers can be used for legitimate reasons, including financial privacy, these services have become popular among criminals to money launder cryptocurrencies, prompting agencies like the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury to implement sanctions.
2022 saw OFAC issue its first-ever sanctions on crypto mixers, designating Blender.io and Tornado Cash for allegedly assisting North Korean hacking syndicate Lazarus Group in laundering stolen cryptocurrencies.
OFAC estimates that Blender.io has helped Lazarus launder over US$20.5 million in “illicit proceeds.” The agency also believes the platform has facilitated money laundering for Russian-linked malign ransomware groups including Trickbot, Conti, Ryuk, Sodinokibi and Ganbcrab.
Tornado Cash, a decentralized mixing service on the Ethereum blockchain, is alleged to have been used to launch more than US$7 billion worth of cryptocurrencies since the platform’s creation in 2019. This includes over US$455 million stolen by Lazarus. Tornado Cash is currently the only decentralized finance (DeFi) protocol to have been sanctioned by OFAC.
2022 was a record-breaking year for hacking, new data from Chainalysis show. A total of US$3.8 billion was stolen from crypto businesses, primarily from DeFi protocols (82.1%) where criminals exploited vulnerabilities found in cross-chain bridge protocols.
Total value stolen in crypto hacks and number of hacks, 2016-2022, Source: Chainalysis, Fev 2023
Cross-chain bridges are protocols that let user port digital assets and data from one blockchain to another. Their design and specificities vary but most protocols on the market work by “wrapping” tokens in a smart contract and issuing native assets to be used on the other blockchain.
Bridges are an attractive target for criminals because they essentially work as liquidity providers, collecting massive amount of funds and locking them into a central point of storage.
According to Chainalysis, North Korea-linked hackers have been the most prolific crypto hackers of the last few years. In 2022, they stole a record of US$1.7 billion worth of crypto across several hacks which some experts believe has been used to fund the country’s nuclear weapons programs.
Yearly total cryptocurrency stolen by North Korea-linked hackers, 2016-2022, Source: Chainalysis, Fev 2023

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/crypto-money-laundering-reaches-new-heights-totaled-us238b-in-2022</link><guid>3069</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Total-cryptocurrency-laundered-by-year-2015-2022-Source-Chainalysis-Jan-2023.png?x30842</dc:content ><dc:text>Crypto Money Laundering Reaches New Heights; Totaled US$23.8B in 2022</dc:text></item><item><title>IBM’s 2023 Banking and Financial Market Report is Bullish on Cloud and AI</title><description><![CDATA[Stress to the world economy in 2022, arising from factors including geopolitical conflicts, supply chain disruptions and rising inflation, will impact the financial services landscape in 2023, forcing industry players to embrace digital business models and architectures, a new report by IBM says.
The 2023 Global Outlook for Banking and Financial Markets report, released by the technology corporation last month, lays out the headwinds financial institutions should expect in 2023 and discusses how these organizations can improve financial performance amidst these challenging economic conditions.
According to the report, increased macroeconomic tensions, spiking inflation and rising geopolitical risks are introducing economic headwinds which financial institutions will need to face in 2023.




   



    
   


   








Common Equity Tier 1 capital (CET1) has increased globally, spurred by regulatory requirements
The ongoing war in Ukraine is prompting governments to ramp up deglobalization efforts to protect their economies from geopolitical risks, subsequently driving up costs and fueling inflation, it warns.
At the same time, the sustainability imperative is introducing new risks and complex compliance requirements which banks must contend with.
These factors are emerging on the back of an increasingly competitive landscape that has seen over the past couple of years the rise of new market entrants. These new digital-savvy, non-traditional players are appealing to customers because of the superior customer experiences they provide as well as their lower costs.
Increased competition is putting pressure on financial institutions’ margins, it says, and yet, banking incumbents are struggling to respond to the threat in a swift manner, hampered by legacy architectures and operating models that are not proving agile enough.
Against these uncertainties, banks must embrace technology and establish a strong digital foundation, a journey which should start with adopting a hybrid cloud strategy, the report says.
A hybrid cloud strategy as a prerequisite for cutting-edge technology adoption
A hybrid cloud approach, where two computing environments are combined and share information with one another, allows businesses to overcome the inherent issues with primitive public cloud platforms, which mainly revolve around security, compliance and customizability. Instead, with a hybrid cloud strategy, organizations can get the best of both worlds, tapping benefits such as lower cost, better regional compliance and security, greater flexibility, scalability, easy management and innovation and growth potential.
According to IBM, a typical institution would deploy an average of four to 12 major platforms a year. A hybrid approach allows an organization to significantly quicken that pace, enabling multiple controlled software releases per day.
Establishing a strong foundation that relies on a hybrid cloud strategy also opens up new opportunities relating to the use of data, the report says. On this hybrid architecture, trusted artificial intelligence (AI) can be deployed at scale for evidence-based decision making, while operations can be simplified via workload automation.
Combining a hybrid cloud strategy with the use of data analytics and AI not only allows banks to tap new tools that simplify and accelerate development, it also provides them with access to new ways of working, allowing them to weather market uncertainties and disruptions with speed and flexibility.
Statements made by the IBM report are consistent with trends observed over the past few years, where enterprises have been found to be rapidly embracing the hybrid cloud approach, as well as data analytics and AI.
A 2022 global survey conducted by 451 Research, part of S&amp;P Global Market Intelligence, on behalf of Cisco, polled 2,500 information technology (IT) decision makers in 13 countries and found that models combining on-premises and cloud-based resources are becoming the norm in the business community.
Of the respondents surveyed, 82% said they currently use cloud-based infrastructure-as-a-service (IaaS) to host their workloads. This hybrid approach enables their organization to achieve a more agile and scalable development environment (42%) and accelerate business agility and innovation (40%), the respondents indicated.
Hybrid cloud models are also driving the adoption of emerging technologies, the research found. 41% and 49% of survey respondents said that some form of edge computing and infrastructure automation capability, respectively, are already deployed in their organizations.
Data analytics and AI are other technologies that are increasingly being adopted by businesses. A 2022 market research commissioned by IBM revealed that global AI adoption grew steadily over the previous year, rising 4 percentage points to 35% in 2022 compared with 2021.
The study, which also polled companies about their plans to use AI in their sustainability initiatives, found that AI is poised to play a significant role in these organizations’ environmental, social and governance (ESG). 66% of IT professionals surveyed stated that their company is either currently applying AI, or plans to apply AI, to accelerate ESG initiatives.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/ibms-2023-banking-and-financial-market-report-is-bullish-on-cloud-and-ai</link><guid>3068</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Fintech-DACH-Trends-New-Banking-im-2023-banner.png?x30842</dc:content ><dc:text>IBM’s 2023 Banking and Financial Market Report is Bullish on Cloud and AI</dc:text></item><item><title>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Is Now Accepting Submissions</title><description><![CDATA[Switzerland’s startup competition &gt;&gt;venture&gt;&gt; is inviting early-stage fintech and insurtech startups to showcase their innovative solutions and compete for recognition, mentoring, and cash prizes.
The competition has a long history of helping startups, but recently expanded its competition to the growing finance and insurance industry in 2019.
&gt;&gt;venture&gt;&gt; was established in 1997 and is co-organised by ETH, McKinsey &amp; Company, Knecht Holding, Innosuisse and EPFL.
It has nearly CHF 600,000 in non-dilutive cash funding every year to help entrepreneurs kickstart their businesses. The competition also offers access to a vast network of industry experts to help mentor startups as they start their journeys to success.
To participate in the &gt;&gt;venture&gt;&gt; competition, startups must meet the requirements outlined in the Playbook, which include an innovative business idea, legal status to operate in Switzerland and an early-stage status.
The application process involves submitting a startup plan, which will be evaluated by a panel of finance and insurance experts who will provide also provide written feedback on each application.
Every participant will receive a CHF 300 voucher valid at the Swiss Institute for Intellectual Property (IPI) for a landscape analysis or assisted patent search.
Additionally, finalists will receive coaching from &gt;&gt;venture&gt;&gt;’s mentor network, and pitch training from investors and communications experts from McKinsey &amp; Company. Winners can earn up to CHF 150,000 in non-dilutive cash prizes.

Some startups who benefited from the competition include some of the past winners of the Finance &amp; Insurance vertical such as Veritic, which develops user-friendly, multi-chain NFT platforms in collaboration with leading institutions, and is based on a highly secure minting and custody infrastructure.

Correntics, which makes supply chains future proof by reducing financial risks from climate extremes and emerging risks in global value chains.

Another winner, Kaspar&amp; offers an all-in-one app including a Swiss bank account, and an automatic transaction-based round-up mechanism that invests the resulting micro-payments in professionally managed investment strategies.
These companies leveraged their participation in the &gt;&gt;venture&gt;&gt; competition to gain visibility, secure funding, and establish themselves as promising innovators in the finance and insurance technology space.
The deadline for applications for the upcoming &gt;&gt;venture&gt;&gt; competition is 2 March 2023. To apply, or for more information visit www.venture.ch.

]]></description><link>https://fintechnews.eu/swiss-startup-competition-venture-is-now-accepting-submissions</link><guid>3067</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Venture_Subpic-2-1.png?x30842</dc:content ><dc:text>Swiss Startup Competition &gt;&gt;venture&gt;&gt; Is Now Accepting Submissions</dc:text></item><item><title>EU “Tokenise Europe 2025” Initiative Aims to Boosts Asset Tokenization</title><description><![CDATA[A new initiative called Tokenise Europe 2025 is being spearheaded by the European Commission (EC) and the German Banking Association to tap into the potential of asset tokenization and distributed ledger technology (DLT) to strengthen the bloc’s competitiveness and build long-term economic resilience.
The initiative, which is being supported by more than 20 member organizations from different countries and industries including banking trade groups and paytech firms, aims to establish a solid foundation for the development of tokenization in Europe with hopes that the technology will drive change and efficiency in industries including finance, supply chains, trade finance, logistics and public services.
Tokenization refers to the process by which an issuer creates digital tokens on a DLT or blockchain, which represent any type of assets. Tokenization can be applied to regulated financial instruments such as equities and bonds, tangible assets such as real estate, precious metals, as well as works of authorship and art. The technology’s benefits are multiple and include increased liquidity, faster settlement, lower costs and bolstered risk management.




   



    
   


   








The best-known type of tokens are cryptocurrencies. These have risen in popularity over the past years and prompted central banks from all around the world to create a new form of money called a central bank digital currency (CBDC).
A 2021 survey carried out by the Bank for International Settlements (BIS) found that nine out of ten central banks were exploring CBDCs. More than half were developing them or running concrete experiments.
The Tokenise Europe 2025 initiative was unveiled in a new report produced by global consultancy Roland Berger, which consolidates individual views of European industry representatives taking part in the effort.
The report outlines the potential of a tokenized economy for Europe in global competition, stressing that tokenization is “crucial to safeguard the region’s future position in the global technological arena and to remain competitive”. Since there is still no clear global front-runner in tokenization, the region has a chance to secure the leading position in the race, the paper says.
A non-representative survey conducted as part of the report polled decision makers, senior managers of Europe’s leading industry and financial services players, and senior public officials, and found that nearly two-thirds of respondents do see tokenization as relevant to their organization and to the management agenda. About half of the participants believe Europe will become a leader in the future token economy.
Consolidated results of the survey at bootcamp sessions (in %), Source: Tokenise Europe 2025, Roland Berger
Overcoming challenges
Though widespread adoption of tokenization has the potential to create new services, introduce new business models and improve efficiency across many industries, several issues are currently holding back a stronger focus on further development, the report warns.
For one, there is a perceived lack of relevance of tokenization in daily business. Hence, tokenization is not often put on the top management agenda of leading companies, perceived instead as a topic to be developed continuously in the long term.
Another factor limiting development can be found in the European culture itself. Compared with other regions, European institutions, companies and citizens are generally more conservative and risk-averse, the report says. While there is no lack of new ideas and use cases for tokenization, these advances are often viewed skeptically by the public, media and business decisionmakers alike, it notes.
The third factor is the general lack of awareness and understanding of DLT and blockchain, which ultimately nurtures a certain level of skepticism.
Against this backdrop, European regulators have a critical role to play in establishing a uniform legal and regulatory framework that legitimizes tokenization, the report says. This framework should support technological development and incentivize companies to actively innovate. It should also set out a fair competitive environment that enables and actively promotes collaboration across borders.
Central banks also have a role to play and should promote the benefits of tokenization within the financial system, including exploring the potential introduction of a CBDC.
All in all, developing Europe’s token ecosystem will require all stakeholders to make a concerted effort, the report says.
In the private sector, large corporates and small and medium-sized enterprises (SMEs) should analyze their current business models to identify opportunities for tokenization. They should also consider future opportunities that the token economy might create for their business and be actively involved by developing commercially viable and scalable use cases.
Finally, because private citizens will ultimately be the main users of tokenization, they need to educate and familiarize themselves with the technology.
Stakeholder-specific needs and calls to action, Source: Tokenise Europe 2025, Roland Berger
The EU has set out plans for the bloc to become “a leader in blockchain technology”, formally launching the so-called Blockchain Strategy to support the widespread adoption of DLT on the policy, legal and regulatory and funding fronts.
Several initiatives have already been introduced as part of the plan, including the development of a pan-European public services blockchain intended to support use cases including notarization, educational credentials, digital identity and trusted data sharing.
The EC is also developing a “pro-innovation” legal framework in the areas of digital assets and tokenization, and smart contracts, which will seek to protects consumers and provides legal certainty for businesses.
]]></description><link>https://fintechnews.eu/eu-tokenise-europe-2025-initiative-aims-to-boosts-asset-tokenization</link><guid>3066</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>EU “Tokenise Europe 2025” Initiative Aims to Boosts Asset Tokenization</dc:text></item><item><title>Fintech Takes Second Place in Swiss Startup Funding; Secures CHF 910M in 2022</title><description><![CDATA[In 2022, Swiss fintech companies secured a total of CHF 910 million, a figure that puts the sector at the second position in terms of startup funding raised last year, data from a new report by news portal startupticker.ch and investor association SECA show.
Fintech was overshadowed by information and community technology (ICT), a sector that saw startups secure a total of CHF 1.2 billion. The figure pushed ICT at the top of the ranking, taking the crown from fintech, the top startup sector in 2021.
Invested capital by sector 2013-2022, Source: Swiss Venture Capital Report 2023, Startupticker.ch/SECA, Jan 2023
These figures were shared in the newly published Swiss Venture Capital Report 2023, an annual research that looks at startup funding trends and studies investor sentiment on the Swiss startup ecosystem.




   



    
   


   








Despite the ICT overtake in 2022, historical data shows that fintech funding increased in Switzerland last year, rising 6% from CHF 857.9 million in 2021. This is in contrast to what was observed globally in 2022, during which fintech startup funding slumped drastically by 46% year-on-year (YoY) as investors scaled back their investment pace amid declining public markets.
The Swiss fintech sector saw some sizeable deals in 2022, reflective of investors’ continued bullishness in the industry. Of the top 20 largest financing rounds secured in Switzerland last year, five involved fintech companies, data from the Swiss Venture Capital Report 2023 show.
Two of these rounds were mega-rounds of CHF 100 million and over: Wefox, a software-as-a-service (SaaS) platform for insurance providers and intermediaries, closed a CHF 392 million Series D in July, the largest fintech investment in the country last year; and SEBA Bank, a licensed digital asset banking platform, closed a CHF 110 million Series C in January.
Wefox, which is present in countries including Germany, Switzerland and Poland, plans to expand in the Netherlands. The round brought the startup’s total funding to more than US$1.3 billion and pushed its valuation to US$4.5 billion.
Similarly, SEBA Bank, which provides fiat and digital asset payments, transfers, and card services, said it would use the proceeds to expand into new markets and solidify its presence in key markets including Hong Kong, Singapore, and the Middle East. SEBA Bank has secured about US$240 million in funding, data from CB Insights and Dealroom show.
Other fintech deals in the top 20 list include Sygnum, another regulated digital asset bank which closed a CHF 82.4 million Series B in January at a US$800 million valuation; Yokoy Group, a spend management platform for businesses which raised CHF 74.90 million in March, bringing its total funding to over US$107 million; and Portofino Technologies, a company that builds high-frequency trading grade technology for digital assets which secured CHF 48.2 million in September.
Fighting the odds: Swiss startup funding reaches new record
Against the odds, Swiss startup funding reached a new high in 2022, totaling nearly CHF 4 billion in funding secured in 383 deals. The figures represent a YoY increase of 29.7% in funding and 7.9% in deal count.
ICT was among the winners in 2022, with startups in the space attracting over 70% more capital than in 2021 and total funding exceeding the CHF 1 billion mark for the first time. Valuations of startup companies also reached new dimensions for Switzerland, with SonarSource reaching CHF 4.6 billion.
Cleantech is another sector that witnessed strong traction in 2022, raising a total of CHF 826.9 million, thanks to a massive mega-round of CHF 600 million secured by Climeworks. The sum represents a near fourfold increase compared with the previous year. 45 cleantech deals were closed in 2022, representing a 32.3% increase from 2021.
At the other end of the spectrum, biotech funding dipped significantly in 2022, with the amount invested in the sector falling by 47.4% to CHF 400 million in 2022, and the number of rounds decreasing by 48.7%.
Invested capital by sector 2022, Source: Swiss Venture Capital Report 2023, Startupticker.ch/SECA, Jan 2023
Looking at investment stages, data show that seed rounds continued their strong growth trend in 2022, increasing by 27% in number to 166 transactions. For the first time, seed rounds made up for most of financing rounds, accounting for 43% of all startup deals in 2022.
Later stage rounds also grew in number, rising 12% YoY from 78 in 2021 to 87 in 2022. That increase was most noticeable in cleantech and consumer products startups, data show.
2022 also witnessed an increase in the number of growth financing rounds of between CHF 10 million and CHF 20 million. The number of these deals increased from 19 in 2021 to 28 in 2022, representing a 47% growth. This trend showcases the maturing of the Swiss startup ecosystem where more established players are now securing capital to fuel their growth, scale and expand overseas.

Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/fintech-takes-second-place-in-swiss-startup-funding-secures-chf-910m-in-2022</link><guid>3065</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Invested-capital-by-sector-2013-2022-Source-Swiss-Venture-Capital-Report-2023-Startupticker.chSECA-Jan-2023.png?x30842</dc:content ><dc:text>Fintech Takes Second Place in Swiss Startup Funding; Secures CHF 910M in 2022</dc:text></item><item><title>Jumio Makes New Sales Leadership Appointments to Drive Growth</title><description><![CDATA[Jumio, a US-based provider of automated, end-to-end identity proofing, risk assessment and eKYC solutions, has appointed Jon Jones as the company’s new Senior Vice President of Worldwide Sales.
With more than 25 years of experience in the fraud and identity space, Jones will drive the company’s global sales strategy in his new role.
He joins Jumio from consumer credit reporting company Experian, where he most recently served as Senior Vice President of Sales Operations and focused on the company’s fraud and identity, software, analytics and consulting product lines.




   



    
   


   








Prior to that, he was the president of Canadian online verification company Trulioo.
Jon Jones
Jones said,
“The whole concept of reducing and removing identity theft and fraud has been with me throughout my career which is why aligning with Jumio’s mission is so important.

Jumio is a leader in the identity space and I look forward to being a part of the company’s next level of growth.”
Simon Winchester
In addition to Jones’ appointment, Jumio had also announced the promotion of Simon Winchester to Vice President of Global Account Management.
Winchester is an industry expert who has worked for the company since 2014 in various enterprise sales leadership roles.
He most recently served as Jumio’s Vice President of Worldwide Advanced Technologies and, before that, Vice President of EMEA Sales.

In his new role, Winchester’s focus is on fostering and growing Jumio’s relationship with its global customer base.
The appointments comes on the heels of Jumio’s announcement just last month that it had cleared over US$200 million in bookings last year.

This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/jumio-makes-new-sales-leadership-appointments-to-drive-growth</link><guid>3064</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Jumio Makes New Sales Leadership Appointments to Drive Growth</dc:text></item><item><title>Global Climate Fintech Funding More Than Doubled to US$2.9B in 2022</title><description><![CDATA[In 2022, funding to climate fintech companies reached a new high, totaling US$2.9 billion in venture capital (VC) raised by companies in the sector, new data from CommerzVentures, the corporate venture capital (CVC) arm of Commerzbank in Germany, show. The sum represents more than double what was secured in 2021 (US$1.2 billion) and showcases accelerating investor appetite for the nascent sector.

Often referred to as green fintech, climate fintech is a relatively new ecosystem of fintech startups that aims to facilitate climate action and drive decarbonization. These companies operate in several segments from carbon accounting software, carbon management platforms and environmental, social and governance (ESG) standards reporting, to impact investing and climate risk management and insurance.




   



    
   


   








Looking at regional trends, data show that Europe maintained its leadership position in 2022 with startups in the space bringing in 1.4 times more funding than their US counterparts.
Across the continent, France took the lead by securing a total of US$770 million. Much of that sum came from EcoVadis’ US$500 million fundraise closed in June 2022.
Founded in 2017 and headquartered in Paris, EcoVadis is a provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. The company’s sustainability scorecards and carbon action solutions give businesses detailed insights into environmental, social and ethical risks across 200+ purchasing categories and 175+ countries, allowing organizations to monitor and improve the sustainability performance of their business and trading partners.
EcoVadis claims more than 100,000  business collaborators, among which Amazon, Johnson &amp; Johnson, L’Oréal, Unilever, LVMH, Salesforce, Bridgestone, BASF and JPMorgan.
After France, the UK ranked second, securing a total of US$562 million. The UK is followed by Iceland with US$117 million, Germany with US$109 million and Switzerland with US$84 million.
Looking at funding trends, data from CommerzVentures show that carbon accounting is the most funded climate fintech subsector, having raised a total of US$970 million in 2022.
Carbon accounting refers to tools and solutions that measure and track how much greenhouse gas an organization emits.
Europe’s most well-funded carbon accounting startup is Sweep, a French company founded in 2020 which helps businesses track and act on their carbon emissions. Sweep has secured a total of US$100 million in funding, its latest round being a US$73 million Series B closed in April 2022.
After carbon accounting, carbon offsetting ranked as the second largest climate fintech subsector, raising a total of US$505 million in 2022. The sum represents three times what companies in the subsector secured the year prior, making carbon offsetting the fastest growing climate fintech category.
Carbon offsetting solutions allow organizations to invest in environmental projects around the world in order to balance out their own carbon footprints. These solutions are particularly relevant for industries struggling to lower emissions directly, such as automotive, oil and gas, and aviation.
In Europe, the most well-funded carbon offsetting startup is BeZero Carbon, a London-based carbon ratings agency which has raised US$50 million in funding so far.
A positive outlook for 2023
Paul Morgenthaler, managing partner at CommerzVentures, told Sifted in a recent interview that although carbon accounting and carbon offsetting remained the climate fintech sector’s favored categories last year, new subsectors like biodiversity and natural capital are emerging and gaining traction.
These companies are tackling the “biodiversity crisis” and are introducing “new approaches for investing in natural capital and preserving biodiversity,” similarly to what startups in the carbon offsetting space have been doing with carbon credits. Companies in this space include Natural Metrics, a developer of molecular methods for biodiversity monitoring, and Cecil, a company that provides a platform for natural asset management.
Nevertheless, Morgenthaler expects the whole climate fintech sector to perform well in 2023, a sentiment that was echoed by Nick Sando, principal at UK-based Octopus Ventures, who told Sifted in a separate statement that the upcoming Fit for 55 package in the European Union (EU) will most likely pave the way for “exciting opportunities in the fintech investment space.”
Fit for 55 is a package by the EU designed to reduce the bloc’s greenhouse gas emissions by 55% by 2030. In December 2022, the Council reached agreement on the proposal.
CommerzVentures, a German VC firm founded in 2014, is a specialist fintech investor with EUR 550 million under management. The firm backs early and growth-stage companies in the fintech and insurtech sectors, as well as the emerging climate fintech space in which it claims to be Europe’s largest investor.
CommerzVentures has led investments with ventures like ClimateView, a Swedish climate tech company that helps cities transition to zero carbon, and Doconomy, a provider of applied impact solutions serving banks, brands and consumers from Sweden as well.
The firm closed its third fund in March 2022, amassing a total of EUR 300 million.

Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/global-climate-fintech-funding-more-than-doubled-to-us29b-in-2022</link><guid>3063</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Investor-appetite-for-climate-fintech-surges.png?x30842</dc:content ><dc:text>Global Climate Fintech Funding More Than Doubled to US$2.9B in 2022</dc:text></item><item><title>Klarpay Expands Global Payment Offering With 13 New Currency Accounts</title><description><![CDATA[Business payments platform Klarpay announced the expansion of its international payment offering with the launch of 13 new currency IBAN accounts.
The currencies include United Arab Emirates Dirham (AED), Australian Dollar (AUD), Canadian Dollar (CAD), Danish Krone (DKK), Hong Kong Dollar (HKD), Hungarian Forint (HUF), Japanese Yen (JPY), Mexican Peso (MXN), Norwegian Krone (NOK), Polish Zloty (PLN), Swedish Krona (SEK), Turkish lira (TRY), and South African Rand (ZAR).
With the introduction of these new currency accounts, Klarpay’s customers will now be able to conduct business more efficiently in multiple countries and currencies.




   



    
   


   








This move follows the launch of USD and GBP accounts in 2022.
Martynas Bieliauskas
“We are excited to offer our customers even more options for conducting cross-border transactions.

Our goal is to empower businesses of all sizes to reach new markets and customers, and these new currency accounts are an important step in achieving that goal.”
said Martynas Bieliauskas, CEO of Klarpay.

]]></description><link>https://fintechnews.eu/klarpay-expands-global-payment-offering-with-13-new-currency-accounts</link><guid>3062</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Klarpay Expands Global Payment Offering With 13 New Currency Accounts</dc:text></item><item><title>Klarpay’s CTO, on How Payment APIs Have Transformed Transactional Banking</title><description><![CDATA[Rapid digital transformation across the retail, banking and fintech industries brought about a tremendous shift in how online businesses conduct their transactions.
Changing consumer demands, together with the pressure to reduce costs and increase efficiency, lead online businesses to increasingly demand up-to-date technical payment integrations and protocols, with most legacy banks, unfortunately, lacking the necessary modern technical infrastructure to be able to deliver such solutions.
Application Programming Interfaces (APIs) have opened new doors for transactional banking. Namely, two platforms which would have otherwise been incompatible – due to different programming languages, functions, or other features – can now be bridged with an API integration.
APIs practically function as bridges, enabling communication between different platforms, along with the performance of tasks. When it comes to online businesses, in a globalised economy, merchants need to manage diverse pools of liquidity when processing cross-border payments and APIs are used to enable businesses to easily aggregate the data they need to finalise these cross-border transactions instantly and in one place. Thanks to APIs, online businesses today can connect and fulfil these complex tasks seamlessly and in real-time.
To get a better knowledge of the topic, we interviewed Christos Alatzidis, co-founder and Chief Technology Officer at Klarpay AG, who gave us an insight into how APIs are used to transform traditional banking.
Christos Alatzidis, co-founder and Chief Technology Officer at Klarpay AG
Why Use APIs in Global Banking?
Today, digital businesses are in need of immediate cross-border payment processing, quick access to their transactions, and frictionless transfer of funds. To be able to provide these elements, APIs have entered the stage of global banking.
The current systems in traditional banking cannot compete with the rapid growth and needs of consumers and merchants, as well as provide all of these mentioned features in a secure way. That is why fintech companies utilise APIs as a more modern, low-cost solution that would enable the shift from the traditional system to digital banking. By enabling easier access to customer data, APIs also allow consumers to have a better overall experience when it comes to transactions.
What are the Advantages of Using APIs?
Coming from a technological, entrepreneurial background, the main benefit of APIs is the elimination of complex and redundant processes. Fintechs and in general tech-oriented companies tend to strive for automation, as it is a crucial part of growing and sustaining a business model.
APIs act as the bridge between apps; they allow direct communication, leaving all needless cycles aside. Third parties that provide financial services can also ease and speed up their work by not having to depend on heavy verification procedures and relying on the KYC method provided by the bank. What’s more, APIs can allow for a different and effortless method of app creation, facilitating the end-user experience. In fact, as they are easily adaptable to new computing changes, they’re perfect for the fast-changing transactional banking world, allowing flawless data communication.
Finally, despite being seen as susceptible to breaches, APIs allow for better security. Their open architecture can ease the process of monitoring tasks, thus allowing quicker and simpler management as necessary.
How Has the Payment API Benefited Klarpay?
Klarpay’s payment API allows businesses to automate and manage their transactions as well as save time without human intervention, all centered around creating a seamless user experience. It essentially enables entities like fintech companies, marketplaces, media companies, merchants etc., to instruct single or bulk payments, as well as access reports and updates on their expenses and accounts.
Klarpay’s API allows for faster and more secure transactions, which inadvertently results in lower costs for the services. As a two-way benefit, Klarpay’s API gives merchants a chance to conduct transactions regardless of any possible issues that may arise, such as traffic spikes. At the same time, it enables our team to focus on additional tasks and projects that can help improve the efficiency of our products and the overall service.
In short, Klarpay’s payments API is designed to seamlessly integrate into any e-commerce system, making it easy to pay employees, suppliers, and customers.
How Does Klarpay Plan to Keep up With the Pace of Innovation?
With the financial world constantly moving forward, consumers need new ways to pay online while businesses look for innovative solutions to expand their business. Klarpay aims to bridge the gap between online companies and traditional brick-and-mortar financial institutions.
To do that, the first step is expanding the partner network, payment methods and corridors, including DLT payments. Crypto has been a rising trend in every segment of the digital world, as it’s often lower-cost, frictionless, and faster. For merchants, this is a very attractive proposition, and Klarpay holds a significant advantage, as Switzerland is one of the few countries where the conversion of crypto asset transactions enjoys a clear and legal framework. This also implies creating a resilient and dynamic environment in which Klarpay can easily adapt to new paytech changes.
Understanding the client’s needs is the backbone of any successful business, and Klarpay will continue to grow and provide new integrations, using data to create more personalised services that would benefit all merchant clients.

]]></description><link>https://fintechnews.eu/klarpays-cto-on-how-payment-apis-have-transformed-transactional-banking</link><guid>3061</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/02/Christos-Alatzidis-co-founder-and-Chief-Technology-Officer-at-Klarpay-AG-1024x567.jpg?x30842</dc:content ><dc:text>Klarpay’s CTO, on How Payment APIs Have Transformed Transactional Banking</dc:text></item><item><title>GPT-3 Use Cases in Banking, Finance and Fintech</title><description><![CDATA[Since its release in November 2022, artificial intelligence (AI)-powered chatbot ChatGPT has garnered much excitement in the technology industry, praised by industry observers and experts for its ability to accurately answer questions, mimic human language and complete a wide range of tasks, from creating software to formulating business ideas.
Developed by American AI research laboratory OpenAI, ChatGPT is a chatbot that’s able to articular answers across many domains of knowledge, handle complex queries, debug computer programs, compose music, write poetry, and much more.
ChatGPT leverages Generative Pre-trained Transformer 3 (GPT-3), a language model trained on large Internet datasets. GPT-3 is aimed at natural language answering of questions, but it can also translate between languages and coherently generate improvised text.




   



    
   


   








With 175 billion parameters, GPT-3’s language model is said to be one of the largest language processing AI models to date, making it better than any prior model for producing human-like text.
In the banking and fintech sector, applications for GPT-3 are wide-ranging, encompassing chatbots for customer inquiries, document processing and report generation, personalized financial advice, financial forecasting and fraud detection, to name a few.
Customer support and inquiries
GPT-3 can be integrated into virtual assistants to provide 24/7 customer support and respond to a customer’ financial inquiry in a prompt manner, whether that’s an account balance inquiry, or getting an update on a loan status.
The technology can also be used to facilitate the work of support staff, by, for instance, classifying tickets based on their content and then, getting them appropriately assigned, or by summarizing inquiries, helping thus agents quickly understand the issue and provide an appropriate response in a swift manner.
Document processing
Because GPT-3 is able to automatically extract information from documents and text, the technology can be used to generate financial reports and summaries, ultimately reducing time and effort in manual data analysis and processing.
The technology is able to analyze large amounts of financial data, identify patterns and extract critical insights, making it a powerful tool for use cases such as financial forecasting and investment analysis.
Personalized financial advice
Advisors can use GPT-3 to provide their customers with personalized financial advice. The technology can be used to generate custom-made financial plans and investment strategies based on a user’s goals, risk tolerance and financial situation. It can also identify spending patterns and offer suggestions for budget optimization.
Using GPT-3 for personalized financial advice would imply integrating the technology with a financial management platform, providing it thus with the necessary customer financial data to formulate relevant recommendations.
Loan processing
In loan processing, GPT-3 can make the underwriting process more efficient by automatically analyzing and assessing a borrower’s financial situation, credit history and income.
The technology can also help improve credit decisioning by reducing the risk of human error, identifying risk factors that would be otherwise overlooked, and automatically flagging potential risks.
Fraud detection
Banks can also use GPT-3 for fraud detection. Organizations can use historical fraud and transaction data to train GPT-3 to recognize anomalies in transaction patterns, detect fraudulent activity and flag anomalies.
The technology can assist in the detection and prevention of fraud by generating alerts and reports, and by notifying relevant personnel of potential fraud.
GPT-3 creator OpenAI is ranked by AI researchers as one of the top three AI labs worldwide. The company received earlier this month a multiyear, multibillion-dollar investment from Microsoft, a deal which marked the third phase of the partnership between the two companies and which followed previous investments from the tech giant in 2019 and 2021.
OpenAI’s AI chatbot ChatGPT went viral shortly after its release on November 30, 2022, surpassing one million users in just five days.
Venture capital investment in generative AI, or algorithms that can be used to create original content, increased nearly 500% between 2020 and 2022 to US$1.37 billion, data from Pitchbook show.
Generative AI funding rounds, Source: Pitchbook, Dec 2022

Featured image credit: freepik
]]></description><link>https://fintechnews.eu/gpt-3-use-cases-in-banking-finance-and-fintech</link><guid>3060</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>GPT-3 Use Cases in Banking, Finance and Fintech</dc:text></item><item><title>Zurich Insurance Selects AWS to Deliver New Customer Experiences</title><description><![CDATA[Amazon Web Services (AWS) today announced that Zurich Insurance Group (Zurich) is moving its enterprise information technology (IT) infrastructure to AWS.
Zurich will use AWS’s global infrastructure, analytics, and machine learning technologies to deliver new digital customer experiences and drive automation at scale, in support of its worldwide digital strategy. As part of the multiyear strategic collaboration, Zurich will move 1,000 applications to AWS by 2025, including core insurance and SAP workloads.
Zurich will move its critical applications to AWS, simplifying, modernizing, and automating the company’s infrastructure. This approach will provide flexible and scalable application environments, enabling agile product development. Using Amazon Relational Database Service (Amazon RDS), Amazon Aurora (AWS’s fully managed MySQL and PostgreSQL-compatible relational database built for the cloud), and AWS App Runner (AWS’s service to quickly deploy containerized web applications and APIs), Zurich will develop and bring new products to market quicker, saving approximately $30 million a year. As a result, Zurich can focus on innovation and new customer experiences, reinvesting valuable resources into new business opportunities, recruitment, and acquisition strategies. By embracing cloud technologies, Zurich will also be able to streamline and optimize its core business processes and better prepare for new reporting requirements in 2023, including alignment with international financial reporting standards—IFRS 9 and IFRS 17.




   



    
   


   








Zurich will use RISE with SAP on AWS, a fully managed offering that combines SAP’s solution and implementation experience with AWS’ experience in helping customers transform their SAP landscapes on the cloud. By migrating its SAP environment to AWS, Zurich will create a modern, cloud-based system connecting data across its entire business. The SAP workloads migration will consist of 20 landscapes, a collection of servers for a specific workload, including more than 100 individual systems such as human resources (HR) and finance. AWS’s extensive SAP experience will allow Zurich to increase the performance of its SAP applications and integrate its data with advanced analytics and machine learning services to gain predictive capabilities and enterprise-wide reporting.
Zurich works with AWS Skills Guild, a comprehensive skills enablement program that helps organizations accelerate cloud outcomes by creating excitement, increasing employee engagement, and nurturing a culture of learning. The insurance provider has already trained more than 400 employees, with plans to further grow the program. Zurich offers skills development opportunities to help attract and train new employee talent, and accelerate cloud adoption across the company.
Ericson Chan
“We want to help our retail customers lead safer and healthier lives, and bring our business customers peace of mind, by using the power of digital technologies to meet their evolving needs,”
said Zurich’s Ericson Chan, Group Chief Information and Digital Officer.
“Working with AWS will transform the way we bring solutions to market and enable us to make the most accurate and up-to-date insights available to our customers. We look forward to using the new AWS Region in Switzerland to support our regulatory reporting requirements.”
Matt Garman
“Zurich’s focus on customers and innovation over the last 150 years is why it remains a leading insurer for more than 55 million people and businesses around the world. Moving their most critical business applications to AWS allows Zurich to put data at the heart of its business to automate processes, increase efficiency, and improve customer responsiveness,”
said Matt Garman, senior vice president of Sales, Marketing, and Global Services at Amazon Web Services.
“Combining Zurich’s financial expertise with AWS’s broad functionality will help the insurer continue to evolve its business to anticipate customer needs, and provide more personalized insurance products.”
]]></description><link>https://fintechnews.eu/zurich-insurance-selects-aws-to-deliver-new-customer-experiences</link><guid>3058</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Zurich Insurance Selects AWS to Deliver New Customer Experiences</dc:text></item><item><title>DailyPay Announces $260 Million in New Funding</title><description><![CDATA[DailyPay announced it has secured $260 million of capital to fuel growth domestically, expand internationally and further invest in product innovation. The funding is divided between revolving credit facility capacity provided by Barclays and Angelo Gordon, and new term loan funding from SVB Capital and a fund managed by Neuberger Berman.
DailyPay first announced a $300 million revolving credit facility from Barclays in March 2022. The additional revolving credit facility capacity ($100 million provided by Barclays and $60 million from Angelo Gordon) provides DailyPay with more capital to service its ever-growing roster of clients. The $100 million in term loan funding will be invested to fuel DailyPay’s continued product innovation and to accelerate growth.
The fundraise announcement comes five months after Kevin Coop joined DailyPay as Chief Executive Officer. In his first five months as CEO, DailyPay has significantly grown its roster of clients and has seen meaningful revenue growth.




   



    
   


   









Kevin Coop
“On-demand pay has proven to be a transformational financial wellness benefit for employers and their employees, and DailyPay is the proven market-leader. Now, our opportunity lies in capturing more of the market, which is overwhelmingly vast green space,”
said Kevin Coop, Chief Executive Officer of DailyPay.
“Our track record of trust and investment from the world’s leading financial institutions validates our business model and path forward. This latest funding further propels us to a position of strength.”

Latham &amp; Watkins LLP advised DailyPay on the financing transactions.
DailyPay partners with leading employers across various industries, including Fortune 500 companies such as Hilton, Target, Kroger and Dollar Tree. The company’s modern, insight-driven pay strategies help companies activate their workforce and build stronger relationships with their employees, who feel more engaged, work harder, and stay longer.

This article first appeared on fintechnews.am


Featured image credit: Kevin Coop, Chief Executive Officer of DailyPay
]]></description><link>https://fintechnews.eu/dailypay-announces-260-million-in-new-funding</link><guid>3059</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>DailyPay Announces $260 Million in New Funding</dc:text></item><item><title>Fintech Funding Drops 46%; Banking Startups Among Worst Hit</title><description><![CDATA[In 2022, fintech companies secured a total of US$75.2 billion in funding, a sum that represents a 46% decline from 2021. Deal counts also decreased, falling 8% year-on-year (YoY) from 5,474 deals in 2021 to 5,048 deals last year, data from CB Insights’ State of Fintech 2022 show.
Fintech funding steady declined throughout the year, dropping from US$30.4 billion in Q1 to US$21.2 billion in Q2, US$13 billion in Q3 and US$10.7 billion in Q4 – the latter being the lowest level since 2018.
Global fintech funding quarterly, Source: State of Fintech 2022, CB Insights, Jan 2023
Investors scaled back their investment pace in 2022 amid slumping public markets, a trend that’s evidenced by the decrease in mega-rounds of US$100 million.




   



    
   


   








In 2022, mega-rounds accounted for just US$36.5 billion, marking a 60% drop from 2021’s record activity. The number of mega-round also fell by 52% YoY to 179.
The year’s top five equity deals were Checkout.com’s US$1 billion Series D, Flexport’s US$935 million Series E, Klarna’s US$800 million round, Viva Wallet’s US$869 million round, and Coda Payments’ US$690 million Series C.
Checkout.com is a company based in the UK that offers a cloud based end-to-end payment platform; Flexport is a technology company from the US that focuses on supply chain management and logistics, including order management, trade financing, insurance, freight forwarding and customs brokerage; Klarna is a leading buy now, pay later (BNPL) startup from Sweden; Viva Wallet is a Greek neobanking startup aimed at small and medium-sized enterprises (SMEs); and Coda Payments is a Singaporean provider of cross-border monetization solutions for digital products and services.
Fintech mega-round funding and deals in 2022, Source: State of Fintech 2022, CB Insights, Jan 2023
Looking at Q4 2022 metrics, data show that the US continued to led the world in fintech funding and deals, securing a total of US$3.9 billion across 342 deals. Europe came second, with US$2.8 billion raised through 248 deals, followed by Asia with US$2.7 billion and 228 deals.
The figures give the US a market share of 35% in Q4 global fintech funding, while Europe and Asia recorded market shares of 26% and 23%, respectively, a ranking that’s consistent with previous quarters.
Across all the regions studied, Latin America and the Caribbeans recorded the sharpest drop, slumping 71% YoY from US$13.9 billion in 2021 to just US$4 billion in 2022.
Fintech funding by region in Q4 2022, Source: State of Fintech 2022, CB Insights, Jan 2023
While the US, Europe, Asia and Latin America all witnessed a drop in both fintech funding and deal counts, Africa was the only region to see a YoY increase in fintech deals, recording 227 rounds in 2022. The number represents a 25% YoY increase.
Notable deals secured in 2022 include MoneyFellows’ US$31 million Series B, Moove’s US$30 million funding round, as well as Tanda and Telda, which secured US$20 million each in respective seed rounds. The four rounds were the region’s largest fintech deals in 2022.
MoneyFellows is a collaborative group lending and savings platform from Egypt; Moove is a mobility fintech that provides revenue-based vehicle financing and financial services to mobility entrepreneurs across ride-hailing, logistics, mass transit, and instant delivery platforms; Tanda is a Kenyan paytech startup; and Telda is an Egyptian consumer money app.
Banking startup funding takes a hit
Though all the major fintech categories witnessed a drop in funding last year, data show that banking startups took the biggest hit, with funding plummeting 63% and deals falling 33% YoY. Globally, banking startups secured a mere US$9.4 billion through 299 deals – the lowest level since 2018.
Notable deals closed in Q4 2022 include Tryllian’s US$358 million round, Lulo Bank’s US$200 million round and Avant’s US$150 million round.
Tryllian is a digital bank from the US that aims to provide customers with banking and payment accounts, investments and insurance services all in one app; Lulo Bank is a Colombian mobile banking app that provides money transfers, payment services and lending products; and Avant is an American fintech company that provides digital banking products, including personal loans, credit cards and auto refinance.
Global banking funding, Source: State of Fintech 2022, CB Insights, Jan 2023
At the other end of the spectrum, capital markets tech companies recorded the lowest percentage drop in funding, with total funding declining 39% YoY from US$3.8 billion in 2021 to US$2.3 billion in 2022. Deal count, meanwhile, fell to a five-year low of just 119 in 2022.
Top equity deals in the space secured in Q4 2022 include Vesttoo’s US$80 million Series C, Viridios Capital’s US$36 million Series B, and BMLL Technologies’ US$26 million Series B.
Insurtech, meanwhile, was the only fintech sector to see a YoY increase in merger and acquisition (M&amp;A) transactions, recording a total of 81 deals in 2022, up 40% from 2021’s 58. The figure represents a new high for the sector.
2022 was an eventful year for the fintech industry, which was marked with much hype around trends including non-fungible tokens (NFTs), open banking, embedded finance and buy now, pay later (BNPL).
While much of these propositions and business models are still trying to find their feet and define a path to profitability, categories including challenger insurtech, challenger banks and point-of-sale (POS) payment processing are starting to be better understood and are finding market applicability and relevance, according to a Dealroom and ABN-AMRO Ventures report.
The 2022 fintech VC hype cycle, Source: Fintech Report 2022, Dealroom/ABN-AMRO Ventures, Jan 2023

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/fintech-funding-drops-46-banking-startups-among-worst-hit</link><guid>3057</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Global-fintech-funding-quarterly-Source-State-of-Fintech-2022-CB-Insights-Jan-2023.png?x30842</dc:content ><dc:text>Fintech Funding Drops 46%; Banking Startups Among Worst Hit</dc:text></item><item><title>Zurich Insurance Leads Series B Fundraise for Global Cyber Insurtech Boxx</title><description><![CDATA[BOXX Insurance, a Toronto headquartered insurtech that combines cyber insurance and security announced a US$14.4 million Series B funding round, bringing the total amount raised from investors to US$24.5 million in the last 16 months.
The latest investment was led by Zurich Insurance.
BOXX also announced that its business met its combined goal to grow 10x in the last 24 months whilst continuing to outperform its underwriting targets. Over 250,000 individuals and 10,000 businesses are protected by BOXX.




   



    
   


   








Vishal Kundi
“Our goal was always to help our customers stay ahead of cyber threats in addition to being there to help them respond and recover from an incident,”
said BOXX co-founder and CEO Vishal Kundi.
“We’ve been making a lot of headway with this and additional category expansion.”
In October, BOXX acquired Cyber security platform, Templarbit and has begun the integration of its threat intelligence software into its product suite and underwriting framework.
Over the course of 2022, the company launched its Hackbusters Incident Response, virtual CISO service for businesses, a new mobile app solution for consumers, in addition to testing a number of new security-based initiatives.
“We’re not only seeing more of our existing cyber insurance customers adding our security products, but also seeing new customers coming in attracted by our latest security products and services,”
Kundi said.
BOXX’s mission to make the world a digitally safer place has led to its presence expanding across North America and other selected markets poised for growth. BOXX increased its staff from 5 to 36 in the last year.
In addition to expanding its go-to-market team and adding new products, BOXX has also implemented upgrades to its underwriting platform and tools including third party integrations.
Jack Howell
“We’ve seen how difficult it is to build cyber insurance solutions for the small business and consumer segments – it is costly and requires deep technical expertise to stay ahead. BOXX addresses these challenges unambiguously, affordably, and with a genuine understanding of what customers and their risk advisors need,”
said Jack Howell, CEO of Zurich Global Ventures.
“Helping customers with innovative digital solutions and embedding them into the customer journey, is critical. It’s impressive to see the simplicity in how BOXX is tackling such a complex global challenge.”

This article first appeared on fintechnews.am

Featured image credit: Edited from zurich.com
]]></description><link>https://fintechnews.eu/zurich-insurance-leads-series-b-fundraise-for-global-cyber-insurtech-boxx</link><guid>3056</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Zurich Insurance Leads Series B Fundraise for Global Cyber Insurtech Boxx</dc:text></item><item><title>US Fraud Detection Startup Inscribe Raised 25M USD Series B</title><description><![CDATA[Inscribe, a fraud detection and document automation platform, announced that it has raised $25M in Series B funding.
The round was led by Threshold Ventures and joined by existing investors Crosslink Capital, Foundry, and Uncork Capital, as well as angel investors including Box co-founder Dylan Smith and Intercom co-founder Des Traynor, bringing the company’s amount raised to $38M.
Many organizations have responded to this uncertainty by introducing additional steps or requirements in their KYC/KYB and underwriting processes — in which hundreds of hours each week are spent manually reviewing documents determine whether a potential customer can be trusted. This creates delays for consumers, who can easily leave for a competitive offering. And the stakes are very high: Without a clear understanding of how to identify trustworthy and creditworthy customers, financial institutions are at risk of being defrauded by cybercriminals or rejecting worthy applicants (resulting in millions of unbanked, “thin file,” and credit invisible consumers).




   



    
   


   








Ronan Burke

“We set out to help solve the uncertainty faced by risk teams everywhere by building artificial intelligence based on the heuristics used by manual review teams. So for the first time ever, they can build digital trust by quickly analyzing billions of data points with a high degree of accuracy and uncovering insights that were previously invisible to the human eye. Technologies that make what’s invisible, visible (like the telescope, the microscope, the x-ray) have always moved society forward in very powerful and important ways,”

said Inscribe co-founder and CEO Ronan Burke.
“Our mission at Inscribe is to create a fair and efficient financial services ecosystem. We’ve started by building best-in-class document fraud detection so companies can uncover the Risk Intelligence they need to build digital trust with customers. And this is only the beginning.”
According to Deloitte, 79% of financial institutions said that enhancing the quality, availability, and timeliness of risk data was a top priority even prior to the pandemic. Risk Intelligence is a powerful new way for risk teams to identify fraudulent/legitimate and risky/creditworthy customers. Instead of relying on tedious, subjective, and error-prone manual reviews, companies that use Risk Intelligence software are equipped with AI-powered fraud and credit insights that eliminate uncertainty and make risk decisions easier.
The new funding will support Inscribe’s impressive growth, hiring goals, and state-of-the-art innovations in fraud detection. In addition to seeing a 3x increase in ARR and a 4x increase in monthly usage during 2022, Inscribe saw its customer base expand into new areas of financial services. Companies like TripActions, Ramp and General Services Corporation (GSC) are now using the company’s software to uncover Risk Intelligence that saves them hundreds of hours each week and millions of dollars in fraud losses each year.

This article first appeared on fintechnews.am


Featured image credit: Inscribe co-founder and CEO Ronan Burke
]]></description><link>https://fintechnews.eu/us-fraud-detection-startup-inscribe-raised-25m-usd-series-b</link><guid>3054</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>US Fraud Detection Startup Inscribe Raised 25M USD Series B</dc:text></item><item><title>PayEm Announces $220M in Equity and Credit Financing</title><description><![CDATA[PayEm, a San Francisco based platform for spend and procurement management announced $220 million in equity and credit financing from Viola Credit, Mitsubishi Financial Group, Collaborative Fund and others to fuel its growth.
Itamar Jobani
“This is a significant milestone in the company’s growth. Our new warehouse credit facility allows us to scale our credit cards operation and support larger customers with our fast-growing payments platform. In addition, the new equity funding will enable us to continue building our platform,”
said Itamar Jobani, CEO, PayEm.
“With the current macroeconomic conditions, it’s never been more important for companies to have an efficient and clear lens into their financial health. We’re pleased to be that single source of truth for them as they may navigate turbulent times and supply chain issues, and simply need to do more with less.”
The PayEm platform enables finance and procurement teams to drive compliance, help create a culture of accountability, and to drive efficiencies and savings. PayEm today supports customers around the world from its offices in San Francisco and Tel Aviv. Over the last year, PayEm grew its customer base by 300 percent and its revenues by 550 percent.




   



    
   


   








Leadership and advisory team additions
The company has also announced three major additions to its leadership team.
Steve Sovik has joined as Chief Revenue Officer. Prior to PayEm, Steve served as Chief Revenue Officer at Tipalti, where he grew sales 3,250% in 3.5 years. Formerly, he was SVP of Global Sales at Coupa.
Dorit Bruner, joins as PayEm’s CFO overseeing PayEm’s finance, legal and accounting with the practice as being a part of senior management finance teams for over 20 years leading large teams through periods of exponential growth, including her tenure at Datorama, where she led the company through their recent acquisition by Salesforce for $850 million.
Gilad Bonjack joins as the company’s VP Product with experience from multiple leading global SaaS companies, such as Hi-bob and Lightsticks.
Also, the Company is announcing today a new addition to its advisory board. Greg Tennyson, former VP and Chief Procurement Officer at Oracle, Salesforce, and most recently at VSP Global, brings procure-to-pay technology experience, best practices, and digital transformation knowledge spanning three decades. Greg has been on the advisory boards of Oracle, Coupa, Aravo Solutions, ScoutRFP (now Workday), and Zip. At PayEm, Greg will work closely with the leadership team to shape the product vision and roadmap and bring much-needed innovation to the procurement space.

This article first appeared on fintechnews.am

Featured image credit: Itamar Jobani, CEO, PayEm
]]></description><link>https://fintechnews.eu/payem-announces-220m-in-equity-and-credit-financing</link><guid>3055</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>PayEm Announces $220M in Equity and Credit Financing</dc:text></item><item><title>Swiss Lending Platform TP24 Secures Mezzanine Funding From Channel Capital</title><description><![CDATA[Zurich-based lending platform TP24 announced that it has secured mezzanine financing for an undisclosed sum from Channel Capital Advisors.
The mezzanine funding will enable TP24 to free up equity capital to fuel its business growth and drive its global expansion plans.
TP24 is a data-driven business lender providing working capital facilities to SMEs seeking a reliable financing solution.




   



    
   


   








Paul Wilson
Paul Wilson, Channel’s Chief Investment Officer said,
“We’re delighted to support TP24’s ambitious growth plans through the delivery of strategic financing. The mezzanine facility will enable TP24 to free up the capital required to fund their business expansion and expand internationally.

This transaction is an excellent example of how Channel’s funds can add value to our partners’ growth plans, while also delivering exceptional returns for our investors.”
Matthias Kribbel
Matthias Kribbel, Co-founder and Managing Director at TP24 said,
“The mezzanine tranche is an important step for our European business, enabling us to further grow our book of SME credit facilities.

Our receivables-backed financing solution not only provides mid-sized businesses with much needed liquidity, it also enables them to become more independent from banks.”


Featured image credit: edited from freepik,
]]></description><link>https://fintechnews.eu/swiss-lending-platform-tp24-secures-mezzanine-funding-from-channel-capital</link><guid>3053</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Swiss Lending Platform TP24 Secures Mezzanine Funding From Channel Capital</dc:text></item><item><title>Boerse Stuttgart Deepens Digital Asset Partnership with Axel Springer and SBI</title><description><![CDATA[Boerse Stuttgart Group strengthens its digital business and further expands its strategic partnership with Axel Springer and SBI Group via SBI Digital Asset Holdings.
Both partners deepen their investment and are now invested in the entire digital business of Boerse Stuttgart Group, which will be bundled under the brand “Boerse Stuttgart Digital” in future. Boerse Stuttgart Digital offers trading and brokerage solutions and crypto custody for institutional clients, as well as the award-winning retail platform BISON.
Matthias Voelkel
“With Boerse Stuttgart Digital, we create a one-stop shop for institutional and retail clients along the entire value chain of cryptocurrencies and tokens. We are highly regulated, stable and transparent. We are the trusted crypto infrastructure partner for European financial institutions intending to provide their clients with secure access to cryptocurrencies and tokens. Axel Springer and SBI Group are globally leading digital companies who share our growth ambition. We are delighted to further scale Boerse Stuttgart Digital with them,”
said Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group.




   



    
   


   








As the largest digital publishing house in Europe, Axel Springer will contribute its expertise with regard to retail offerings:
“Boerse Stuttgart Digital provides retail customers and institutional partners with a regulated offering along the entire value chain. This is unique in Europe. I am looking forward to the further cooperation and to supporting the offering in the future”,
said Dr Valentin Schöndienst, Senior Vice President New Business at Axel Springer.
The Japan based financial conglomerate SBI Group, via its subsidiary SBI Digital Asset Holdings, has built a global network of digital asset and cryptocurrency businesses. The network consists of a combination of strategic partnerships and minority investments and is complemented by the development of core digital asset products and services from within the group.


Featured image credit: Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group
]]></description><link>https://fintechnews.eu/boerse-stuttgart-deepens-digital-asset-partnership-with-axel-springer-and-sbi</link><guid>3048</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Boerse Stuttgart Deepens Digital Asset Partnership with Axel Springer and SBI</dc:text></item><item><title>With an Estimated US$800B in Payments Processed Annually, Apple Has Become a Key Actor in the Global Fintech Scene</title><description><![CDATA[In 2022, Apple controlled an estimated US$800 billion worth of payments, making the American technology company a significant fintech player globally, a new report by Flagship Advisory Partners, a boutique consultancy and mergers and acquisitions advisory firm from the Netherlands, says.
By 2030, that amount is projected to soar to US$3.2 trillion, rising at an annual growth rate of 19% from 2022 as the tech firm continue to expand its product portfolio.
The new paper, released on January 11, 2023, looks at Apple’s fintech ecosystem, delving into the firm’s existing products and services, ongoing projects and growth metrics.




   



    
   


   








According to the report, Apple’s mobile payment service, Apple Pay, currently stands as the company’s largest source of fintech flows, accounting for more than US$500 billion worth of transactions in 2022 and an estimated 30 billion transactions.
These metrics imply that about 3% of all Visa and Mastercard (V/MC) consumer card value and 10-12% of V/MC card transactions in North America and Europe went through Apple Pay in 2022, the report claims.
A comparison with market leader PayPal reveals that Apple Pay has achieved rather impressive growth in a relatively short amount of time. Apple Pay is just under half of the size of PayPal by volume of flows, and yet the mobile wallet has been operational for just eight years, against 24 years for PayPal, it notes.
Introduced in 2014, Apple Pay is a mobile payment service that allows users to make payments in person, in iOS apps, and on the web. The service has risen in popularity at both the physical point-of-sale (POS) and online. In early 2022, the firm claimed that Apple Pay had achieved a 90% penetration rate among US retailers.
Building on this momentum, Apple introduced Tap to Pay on iPhone in February 2022, making the adoption of the mobile wallet even easier for merchants.
Tap to Pay, which allows businesses to accept Apple Pay, contactless credit and debit cards, and other digital wallets with only an iPhone and no additional hardware, has already gained the support of payment platforms Adyen, Square, and Stripe, with more expected to come.
Flagship Advisory Partners has bullish expectations on the growth of Tap to Pay, projecting more than US$60 billion worth of payments via the software POS by 2030.
Apple Tap to Pay illustration, Source: Apple
After Apple Pay, the second largest source of fintech flows are the payments that Apple itself receives as a merchant through its own sales channels. These include the Apple stores, Apple.com, Apple’s music, TV and video channels, as well as the App Store, the report notes.
An estimated US$242 billion worth of transactions was reported in 2022, with the App Store making up for most of the sum at US$100 billion and generating US$25 billion in revenue for the company.
Apple’s Estimated Fintech Ecosystem Volume Flows by Product &amp; Service (2023), Source: Flagship Advisory Partners, Jan 2023
Expanding the consumer fintech business
These past couple of years have seen Apple jumping deeper into financial services, a development that’s evidenced by the firm’s new product announcements, the report notes.
In 2017, the company launched Apple Cash, a solution that allows users in the US to send and receive money, hold an Apple Cash balance and transfer money back to a bank account easily.
This was followed in 2019 by the introduction of the Apple Card, a credit card created by Apple and issued by Goldman Sachs. The card is designed primarily to be used with Apple Pay on Apple devices such as an iPhone, iPad, Apple Watch, or Mac. Currently, it is available only in the US, with 6.7 million American cardholders in early 2022.
Apple Card dashboard, Source: Apple, Jan 2023
Other consumer fintech products are in the works, including the Apple Pay Later, a buy now, pay later (BNPL) solution that will allow users in the US to spread the cost of a purchase into four payments over six weeks, without paying interest or fees; and the Apple Savings account, a “high-yield” interest-bearing savings account that will be administered by Goldman Sachs.
Apple’s Fintech Development Timeline (2023, Select Key Events), Source: Flagship Advisory Partners, Jan 2023
These developments indicate that the tech firm is working on expanding its portfolio of consumer fintech products, the Flagship Advisory Partners report says. It notes that while volumes arising from Apple Card and Apple Cash remain modest with an estimated US$30 billion worth of transactions in 2022, this sum could grow to US$350 billion by 2030 as Apple continues to launch new consumer fintech products.
Looking at Apple’s fintech operating model, the report notes that, so far, the firm has relied on a slew of partners including Goldman Sachs, JP Morgan Chase as well as Visa and Mastercard, to process payments and offer Apple-branded consumer fintech products.
Though evidence suggests that Apple may be looking to reduce its dependency on third parties and banking partners, it is unlikely that the firm will subsume all or most of the value chain roles delivered by partners today, Flagship Advisory Partners says. This is because the collateral damage for becoming a fully licensed bank would be just too great, compared with collaborating with strong partners that are offering increasingly well-designed banking-as-a-service (BaaS) propositions, it says.
In addition to its consumer fintech line, Apple has also been working on expanding its digital identity offering. The Apple Wallet, an app that stores users’ credit and debit cards, loyalty and rewards cards, as well as credentials, saw several developments in 2022, including the launch of driver’s licenses and state identity documentation (ID) on the app. Currently, three US states offer driver’s licenses and state IDs in Apple Wallet: Arizona, Colorado, and Maryland.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/with-an-estimated-us800b-in-payments-processed-annually-apple-has-become-a-key-actor-in-the-global-fintech-scene</link><guid>3049</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>With an Estimated US$800B in Payments Processed Annually, Apple Has Become a Key Actor in the Global Fintech Scene</dc:text></item><item><title>Swiss Fintech Company Numarics Joins Forces With Top Ten Accounting Firm A&amp;O Kreston</title><description><![CDATA[The Swiss fintech company Numarics AG is merging with the multiple award-winning fiduciary company a&amp;o kreston ag. The startup Numarics, founded in 2020, thus completes another important growth step in the still short history of the company. a&amp;o kreston is number four in the category 50 to 249 employees and thus one of the leading fiduciary companies in Switzerland.
Numarics was founded by fiduciaries, auditors and experts in technological process automation as a fintech company focused on increasing efficiency in the accounting sector through the optimized interaction of fiduciary experts and digital ecosystem. Just a few weeks ago, Numarics announced a partnership with UBS, a major Swiss bank. Numarics provides an integrated, intuitive and seamless end-to-end solution for digitized fiduciary services. Last year, Numarics won the prestigious Best of Swiss App award.
With the merger, a highly qualified team of 70 fiduciaries, tax advisors and auditors at five locations in German-speaking Switzerland joins Numarics. The number of clients at Numarics thus rises to over 3,000. The team of experts now works under the slogan and philosophy: ‘We speak numbers’.




   



    
   


   








Dominique Rey
Dominique Rey, co-founder and CEO at Numarics, about the merger:
“The acquisition of a&amp;o kreston is an important milestone in the development of our Fintech. With the merger, we are not only merging with a first-class fiduciary company, but are also gaining unique expert know-how. This expert knowledge of a&amp;o kreston means a quantum leap for Numarics.”
Rey, a certified public accountant, will continue to serve as CEO of Numarics.
Emre Özdemir, certified public accountant and CEO of a&amp;o kreston, explains:
“The vision of combining the expert knowledge of our company with the technology-based approach of Numarics convinced the partners of a&amp;o kreston from the very beginning. We are thus consistently pursuing the path to digitalization of the activities of fiduciary experts. We look forward to implementing this vision together with our colleagues at Numarics.”
Emre Özdemir will take over the core business of Fiduciary Operations at Numarics and, along with it, the Customer Success division in German-speaking Switzerland.
Benjamin Merkli, who is a partner and head of taxes as a certified tax and fiduciary expert at a&amp;o kreston ag, will be responsible for the specialized service areas at Numarics, including taxes and payroll and personnel administration, and will also serve as CFO.
Kristian Kabashi, business process technologization expert, M&amp;A and internal operations specialist and co-founder at Numarics, has been instrumental in guiding the development of the Numarics solution and will continue to lead the international product and engineering team.
Angela Beltrame, who as a partner leads the Payroll division at a&amp;o kreston ag, will take over this function at the merged group. Bora Erbil, partner at a&amp;o kreston, will now head the Marketing and Digital Communication department.
Manuel Vogel, PhD economist and certified tax expert, previously Chairman of the Board and Partner at A&amp;O Kreston, will continue to contribute his first-class and excellent know-how in the field of (international) VAT. Volker Doberanzke, Professor of Finance, Founding Partner and Chairman of the Board of Numarics will accompany the role of Chief Strategy Officer. Manuel Vogel and Volker Doberanzke will alternately chair the Board of Directors of Numarics.
]]></description><link>https://fintechnews.eu/swiss-fintech-company-numarics-joins-forces-with-top-ten-accounting-firm-ao-kreston</link><guid>3050</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Swiss Fintech Company Numarics Joins Forces With Top Ten Accounting Firm A&amp;O Kreston</dc:text></item><item><title>Inventx erwirbt Mehrheitsbeteiligung an Wiler Spezialistin für Datentransformation</title><description><![CDATA[Die Inventx übernimmt rückwirkend per 1. Januar 2023 die Aktienmehrheit der DTI-Gruppe.
Die DTI ist eine unabhängige Dienstleisterin für digitales Informationsmanagement mit Sitz in Wil SG, einer über 25-jährigen Firmengeschichte und Expertise in der digitalen Transformation und im Informationsmanagement. Sie wird ihren Wachstumsweg als operativ eigenständiges Unternehmen unter der bewährten Führung fortsetzen und ihre Vision des Intelligent Document Lifecycles gemeinsam mit der Inventx verwirklichen. Mit den DTI-Lösungen, integriert in die Inventx Open-Finance-Plattform (ix.OFP), profitieren Schweizer Banken und Versicherungen künftig von innovativen und intelligenten Services rund um Document Processing, Archivierung und Suche.
Die DTI Gruppe wird die Inventx mit ihren Lösungen und Kompetenzen rund um Digitalisierung, Transformation und Management von Inhalten und Daten unterstützen. Dabei bringt sie langjährige Erfahrungen aus der Banken- und Versicherungsbranche mit.




   



    
   


   








Kaspar Tappolet
Kaspar Tappolet, bisheriger und künftiger CEO und Mitinhaber der DTI, freut sich über die Partnerschaft und erklärt:
«Wir pflegen bereits seit längerer Zeit eine intensive Zusammenarbeit. Aus den vielen positiven Erfahrungen heraus haben beide Seiten das grosse Potential und den Mehrwert erkannt, die eine Vertiefung der Geschäftsbeziehung für uns als auch für unsere Kunden mit sich bringt. Durch die Bündelung der Expertise von DTI rund um den gesamten Document Lifecycle mit der Open-Finance/Insurance-Kompetenz von Inventx profitieren die Banken und Versicherungen bei ihrer Prozessdigitalisierung von vollständig gemanagten SaaS-Lösungen aus einer Hand.»
Gregor Stücheli
Gregor Stücheli, Verwaltungsratspräsident der Inventx, bestätigt:
«Nicht nur die komplementären Dienstleistungen, sondern auch die kundenorientierte Unternehmenskultur sowie eine hervorragende Reputation und exzellente Referenzen im Banken- und Versicherungsumfeld verbinden uns. Wir erhalten durch DTI zudem auch Zugriff auf ein ergänzendes Ökosystem, das uns zu noch mehr Relevanz und damit Wettbewerbskraft im Finanzmarkt verhilft.»
Die DTI Gruppe wird im neuen Setup weiterhin eigenständig und produktunabhängig operieren. Das bisherige Management, das neben Kaspar Tappolet den CTO Peter Angehrn und den COO Stefan Schmid sowie Kai David und Daniel Szlapka, die beiden Managing Directors der DTI GmbH in Deutschland, umfasst, bleibt unverändert an Bord.

Gruppenfoto v.l.n.r.: Kaspar Tappolet, CEO DTI, Gregor Stücheli, VRP Inventx, Peter Angehrn, CTO DTI, Stefan Schmid, COO DTI
]]></description><link>https://fintechnews.eu/inventx-erwirbt-mehrheitsbeteiligung-an-wiler-spezialistin-fur-datentransformation</link><guid>3051</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Inventx erwirbt Mehrheitsbeteiligung an Wiler Spezialistin für Datentransformation</dc:text></item><item><title>Inventx erwirbt Mehrheitsbeteiligung an Wiler Spezialistin für Daten-Transformation</title><description><![CDATA[Die Inventx übernimmt rückwirkend per 1. Januar 2023 die Aktienmehrheit der DTI-Gruppe.
Die DTI ist eine unabhängige Dienstleisterin für digitales Informationsmanagement mit Sitz in Wil SG, einer über 25-jährigen Firmengeschichte und Expertise in der digitalen Transformation und im Informationsmanagement. Sie wird ihren Wachstumsweg als operativ eigenständiges Unternehmen unter der bewährten Führung fortsetzen und ihre Vision des Intelligent Document Lifecycles gemeinsam mit der Inventx verwirklichen. Mit den DTI-Lösungen, integriert in die Inventx Open-Finance-Plattform (ix.OFP), profitieren Schweizer Banken und Versicherungen künftig von innovativen und intelligenten Services rund um Document Processing, Archivierung und Suche.
Die DTI Gruppe wird die Inventx mit ihren Lösungen und Kompetenzen rund um Digitalisierung, Transformation und Management von Inhalten und Daten unterstützen. Dabei bringt sie langjährige Erfahrungen aus der Banken- und Versicherungsbranche mit.




   



    
   


   








Kaspar Tappolet
Kaspar Tappolet, bisheriger und künftiger CEO und Mitinhaber der DTI, freut sich über die Partnerschaft und erklärt:
«Wir pflegen bereits seit längerer Zeit eine intensive Zusammenarbeit. Aus den vielen positiven Erfahrungen heraus haben beide Seiten das grosse Potential und den Mehrwert erkannt, die eine Vertiefung der Geschäftsbeziehung für uns als auch für unsere Kunden mit sich bringt. Durch die Bündelung der Expertise von DTI rund um den gesamten Document Lifecycle mit der Open-Finance/Insurance-Kompetenz von Inventx profitieren die Banken und Versicherungen bei ihrer Prozessdigitalisierung von vollständig gemanagten SaaS-Lösungen aus einer Hand.»
Gregor Stücheli
Gregor Stücheli, Verwaltungsratspräsident der Inventx, bestätigt:
«Nicht nur die komplementären Dienstleistungen, sondern auch die kundenorientierte Unternehmenskultur sowie eine hervorragende Reputation und exzellente Referenzen im Banken- und Versicherungsumfeld verbinden uns. Wir erhalten durch DTI zudem auch Zugriff auf ein ergänzendes Ökosystem, das uns zu noch mehr Relevanz und damit Wettbewerbskraft im Finanzmarkt verhilft.»
Die DTI Gruppe wird im neuen Setup weiterhin eigenständig und produktunabhängig operieren. Das bisherige Management, das neben Kaspar Tappolet den CTO Peter Angehrn und den COO Stefan Schmid sowie Kai David und Daniel Szlapka, die beiden Managing Directors der DTI GmbH in Deutschland, umfasst, bleibt unverändert an Bord.

Gruppenfoto v.l.n.r.: Kaspar Tappolet, CEO DTI, Gregor Stücheli, VRP Inventx, Peter Angehrn, CTO DTI, Stefan Schmid, COO DTI
]]></description><link>https://fintechnews.eu/inventx-erwirbt-mehrheitsbeteiligung-an-wiler-spezialistin-fur-daten-transformation</link><guid>3052</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Inventx erwirbt Mehrheitsbeteiligung an Wiler Spezialistin für Daten-Transformation</dc:text></item><item><title>Hawk AI Accelerates Global Expansion With $17 Million Series B</title><description><![CDATA[Hawk AI, a Munich-based provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies, announced $17M in Series B financing to accelerate product development and global expansion.
The funding round was led by Sands Capital from Washington D.C., with participation from new and existing investors, including DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital.
Hawk AI helps financial institutions fight financial crime. Powered by Explainable AI and based on flexible cloud infrastructure, the company’s surveillance platform helps financial institutions detect and prevent the financial crime that other systems miss while it supports efficient investigation of suspicious account behavior in a user-friendly case management environment.




   



    
   


   








Tobias Schweiger
“My co-founder Wolfgang Berner and I started this business based on the strong belief that only leading-edge, real-time surveillance technology can deliver the change needed to fight financial crime. This contrasts the obvious, drastic deficiencies in legacy technology. Hawk AI’s growth will continue to be fueled by industry-wide demand for AI, Cloud outsourcing, and a convergence of Fraud and AML technology. This funding will allow us to reach our ambition to become the leading global surveillance platform faster,”
said Tobias Schweiger, CEO and Co-Founder of Hawk AI.
Money laundering and fraud are significant economic and societal problems. More than $2 trillion is laundered annually, fraud losses in the US were over $41 billion in 2022, all while fraud has increased by more than 37% in high-growth markets over the last 12 months. Financial institutions are under constant pressure to improve their transaction monitoring, screening, and customer due diligence initiatives to protect their business. Augmenting traditional rule-based systems with Explainable AI allows such institutions to find more cases of financial crime while drastically reducing the burden of false positives that overwhelm internal teams.
Hawk AI is led by industry experts that have successfully built payment firms and digital banks. The company experienced 298% year-over-year revenue growth in 2022, recently won the coveted Fintech Germany award, and added Singapore to its global presence spanning Munich, London, New York, San Francisco and Paris. Hawk AI operates in more than 60 countries across Europe, North America, Asia, and Latin America, processing billions of transactions for customers including large financial institutions and listed entities. The company partners with leading firms including VISA and Diebold Nixdorf, and more than 40% of Hawk AI’s revenue originates from the USA.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/hawk-ai-accelerates-global-expansion-with-17-million-series-b</link><guid>3038</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Hawk AI Accelerates Global Expansion With $17 Million Series B</dc:text></item><item><title>Payment, Fintech Companies Embrace Sports Sponsorships</title><description><![CDATA[Sports sponsorship deals from financial services and fintech companies alike have increased significantly over the past three years on the back of rising competition in the industry and amid hopes for increased brand awareness and exposure.
According to a new analysis by FXC Intelligence, a financial data company specializing in the international payments, payment cards, cryptocurrency and e-commerce industries, deals from the payment and remittance industries have particularly risen over the past years, with some of the world’s biggest names including Visa, FIS, Mastercard and Amazon Pay, backing major sporting brands and teams.
In the report, released in December 2022, FXC Intelligence delves into the sports sponsorship deals from payment companies that have been announced over the past 18 months and outlines emerging trends.




   



    
   


   








According to the analysis, at least 48 deals have been inked during the period, among which 20 primary sponsorships and 28 payment partnership sponsorships.
Mastercard and Visa emerge as most active payment companies in sports sponsorship
US-based payment firms Mastercard and Visa emerged as the most active payment companies in the field. These firms typically alternate across the biggest events and sports, which range from soccer and American football, to golf and tennis, the report says. These large events allow them to gain massive exposure.
Mastercard has so far been the biggest spender in the payment’s sponsorship market with an estimated spend of more than US$100 million, according to a 2022 GlobalData report. Visa, meanwhile, stands highest in the number of deals and occupies second position after Mastercard as the biggest spender with a reportedly US$119.7 million with 28 deals in 2022.
Other companies use sports sponsorships as a way to increase brand recognition, build positive thematic associations, and be visible to a major international audience, the FXC Intelligence report says.
This is the case for cross-border peer-to-peer (P2P) payment company MoneyGram, which unveiled in October 2022 its title sponsorship of the Haas F1 team, the only American team competing in the FIA Formula 1 (F1) World Championship.
Through the deal, MoneyGram will receive constant global visibility, as the F1 World Championship runs nearly year-round and results in extensive television coverage almost every week.
The F1 World Championship is the world’s most prestigious and popular motorsports competition with a global audience of more than 500 million. The F1 2023 season will take place across 24 races held in 21 countries on five continents around the world. These countries account for nearly 80% of MoneyGram’s transaction value, making these markets of high relevance for the cross-border payment company.
Besides primary sponsorships, other deals have been inked over the past 18 months to tap business-to-business (B2B) opportunities, the FXC Intelligence report says. Most Premier League football clubs have a money transfer partner which often handles the foreign exchange (FX) for the club too, it notes. Such partners include Skrill, TransferMate, Remitly and Sokin.
Cross-border payment sponsorships in sports, Source: FXC Intelligence, Dec 2022
Payment sector sports sponsorship landscape
In 2022, the payment sector accounted for 21% of venue title sponsorship spend across the sports industry, amassing a total of US$2.24 billion, according to the GlobalData report. The sum made the payment sector the most active industry in sports sponsorship spend.
Soccer was the most active sports market for payment’s sponsorship in 2022, the report says, attracting US$819.6 million. The National Basketball Association stood as the most valued property.
As of April 2022, 614 payment brands were engaged in sport sponsorship agreements.
Sports sponsorship has emerged as an appealing proposition for fintech companies, allowing them to connect with wider communities and improve upon the brand perception and value.
Sponsoring high-profile events such as the UEFA Champions League, the FIFA World Cup and the Premier League, in particular, enables fintech companies to cater to target audiences, enhance brand exposure and nurture reliability and trust among a wider community.
Besides payments, startups in the cryptocurrency and insurtech sectors have also gotten in the game. Wefox, a leading insurtech company headquartered in Berlin, became in February 2022 the first-ever back-of-shirt sponsor of the football club AC Milan. The deal, which also made Wefox the club’s official insurance partner, was unveiled in tandem with the launch of the startup’s offering in Italy.
In Switzerland, Wefox also has the Wefox Arena, home to Swiss soccer team FC Schaffhausen. And in Germany, the insurtech startup is the main shirt sponsor of soccer club, the FC Union Berlin, for season 2022/2023.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/payment-fintech-companies-embrace-sports-sponsorships</link><guid>3039</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Payment, Fintech Companies Embrace Sports Sponsorships</dc:text></item><item><title>Swiss FIs Expect New Pressures as Well as Opportunities for Instant Payments</title><description><![CDATA[Scan the headlines in these early days of 2023, and you would be forgiven for thinking we’re embarking on the year of digital currency. Not so fast, however.
CBDCs and digital currencies certainly merit a close and sustained look from Swiss financial institutions. But Bottomline’s analysis of proprietary research shows that the smart money is on the faster horses. Specifically, instant payments and the regulations surrounding them will be the most important competitive factor within Swiss borders, as well as the confines of the European Union. And that’s not the only highlight in the study. Just as the Swiss government has decided to promote open banking, it too has shown up as a high priority for its member banks.
But back to instant payments. The switch to that priority has taken place at a dramatic clip. Last year’s Competitive Banking Report put digital transformation via Saas-based technology at number one in terms of “the most relevant topics” for global FIs. The results were consistent when broken down by geography (EU) and individual country. In 2021 45% of all respondents put digital transformation at the top, followed by instant payments.
Fast forward one year, and you will see that 63% picked instant payments as the most relevant topic, followed by fraud detection (54%), cross-border payments (52%) and digital transformation (45%). We would like to think that digital transformation has slipped in relevance because FIs have made so much progress in migrating toward SaaS platforms. By the same token, we surmise that instant payments have risen to the top because banks are driven by the need to innovate and address the preferences of their commercial and retail customers.
The finding becomes even more significant in the context of the instant payments regulatory proposals coming from the EU finance commission and the March 20 ISO 20022 deadline coming from the SIC group. By mandating ISO 20022, the SIC group has all but guaranteed a focus on instant payments within Swiss borders. The EU proposals – which will be taken up more formally later this year – come at a time when banks are under heavier and tighter scrutiny and regulatory oversight than ever before. In the Bottomline report, 45% said compliance and regulation were a key focus. And they should be.
However, these regulations in our view will help speed up bringing instant payments to market. It’s tempting to see regulations as undue pressure on product roadmaps and resources. Part of the answer again focuses on SaaS, where a joint industry solution across multiple banks and FIs benefits from speed-to-market and automatic adherence to new mandates.
Open doors for open banking
The competitive banking report was also notable for its relatively high priority placed on open banking, which checked in at 41% on the relevance scale. That’s an 8% increase in the early stages of open banking delivery compared to last year. This boost should come as no surprise in the face of an increasing number of highly published discussions around open finance and new use cases. But what might be surprising is the Swiss government’s endorsement of open banking, which resulted from the Federal Council’s meeting on December 16. The Bottomline report did part ways somewhat with the stated use cases from the Swiss government. Bottomline found that 43% of global finance leaders said PIS (open banking single payments) would be the lead in their offerings, 40% said open banking enabled refunds, and 39% said Confirmation of Payee. There was also a key preference for variable recurring payments at 35%.
Contrast that to the Federal Council statement that
“promising projects have been launched in areas such as retirement provision, portfolio management, payment transactions, and multi-banking. However, more concrete progress and greater commitment are needed with regard to the opening up of data interfaces.”
On a global scale, the report shows an urgency to deliver innovation, gain a competitive advantage, or stay in the game and avoid disintermediation. Everything is real-time now, and everybody expects everything to work with ‘one press of a button’. The truth is, of course, more complex, and the reality about competing in Switzerland hinges on its sovereignty as well as its membership in the broader EU. However, for executives looking for answers, there’s only one issue: competition. Swiss FIs will need to compete for customers. They will need to compete against fintechs. And they will need to continue on a journey toward digital technology and iron out new wrinkles like open banking to strengthen their competitive set.
Make sure your financial institution is on track to maximise the changes impacting the payments ecosystem and accelerate your digital payments transformation strategy today – that is where true competitive advantage can be leveraged.
Interested to read more about that topic, check out the study “The Future of Competitive Advantage in Payments &amp; Banking “- Read the Report &amp; Take the ‘Live’ Benchmarking Report Now


Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/swiss-fis-expect-new-pressures-as-well-as-opportunities-for-instant-payments</link><guid>3040</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/bottomline-payment.png?x30842</dc:content ><dc:text>Swiss FIs Expect New Pressures as Well as Opportunities for Instant Payments</dc:text></item><item><title>Robinhood Launches New Media Outlet Sherwood Media</title><description><![CDATA[Digital investment platform Robinhood is launching a new media arm called Sherwood Media, which will cover the markets, economics, business, technology and the culture of money, the company said last week. The fintech firm joins the growing list of companies that are entering the media business in a bid to gain exposure, sell more products and become more profitable.
Sherwood Media, which will operate as a subsidiary of Robinhood, will be led by media entrepreneur and technology editor Joshua Topolsky and will build on the company’s successful daily newsletter, Robinhood Snacks.
Robinhood Snacks is a three-minute newsletter that aims to give subscribers “a daily dose of financial news.” It’s meant to be “the most fun business news you can get” and easily digestible to the everyday person. Previously known as MasterSnacks until the company was acquired by Robinhood in 2019, Robinhood Snacks has amassed a significant readership, totaling 36 million email subscribers in June 2021.




   



    
   


   








Robinhood Snacks homepage, Source: snacks.robinhood.com
Topolsky, the founder and former editor-in-chief of tech news network The Verge; co-creator of its parent company Vox Media; and a former chief digital content officer at Bloomberg, will serve as the editor-in-chief and president of the newly formed entity.
He will be in charge of overseeing the entire operation, including product development and the hiring of editorial and sales talent, Topolsky told American news website Axios in an interview. Dozens of employees are expected to be hired this year, including reporters, editors and social media content creators, he said.
Sherwood Media will house Snacks, the company said, and a suite of new editorial offerings are expected to be launched throughout 2023 focusing on news updates and analysis, original reporting, social-first content, as well as live events. New newsletter products centered around specific verticals related to business and finance could also be introduced in the future, Topolsky said.
While Robinhood had in the past made no effort to monetize Snacks, Sherwood Media will provide advertising opportunities to select partners, Robinhood said.
Moreover, because Sherwood Media is being established as an independent company, the media outlet will be able to cover Robinhood “where and when it makes sense, with disclosures obviously,” Topolsky said, something Robinhood Snacks wasn’t able to do “to avoid any real or perceived conflict of interest.”
Topolsky compared the move to that of Bloomberg, which started out as a financial software provider before expanding to consumer media and becoming one of the world’s leading news agencies.
Robinhood is one of the increasing number of companies that are either creating or acquiring news and media companies to build their brand, acquire new customers and increase customers retention.
HubSpot, a publicly traded marketing software company, acquired in 2021 The Hustle, a media outlet focused on business news that clocks close to two million newsletter subscribers. The deal reportedly valued The Hustle at around US$27 million.
JP Morgan, the world’s largest financial services institution, acquired The Infatuation, a publisher that offers reviews and recommendations on restaurants across the US and internationally.
Last year, Pipe, a US trading platform for recurring revenues, acquired Purely Capital, a media and entertainment financing company. Pipe said in a statement that the deal was meant to help Pipe expand into other sectors, furthering its mission to becoming the trading platform for any company with recurring revenues, regardless of industry.
Other organizations, meanwhile, have opted instead to build their own media platforms. This is the case for Coinbase, which rolled out in 2021 a new blog called Fact Check to hit back at negative press coverage and “misinformation”.
]]></description><link>https://fintechnews.eu/robinhood-launches-new-media-outlet-sherwood-media</link><guid>3041</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Robinhood Launches New Media Outlet Sherwood Media</dc:text></item><item><title>Will 2023 Be The Year of B2B Fintechs?</title><description><![CDATA[2022 was a trying year for the fintech industry which faced uncertainties related to geopolitical conflicts, supply chain challenges, as well as rising inflation and interest rates. Macroeconomic headwinds weighed on consumer-facing businesses, forcing many to undergo mass-layoffs and scale back on their expansion plans.
These market conditions have prompted investors to turn their focus on business-to-business (B2B) fintech companies, which many argue are more shielded from market volatility and are poised for strong growth amid digitalization efforts.
Rising interest in B2B fintech is evidenced by the relative dynamism the sector is witnessing as well as strong venture capital (VC) funding activity.




   



    
   


   








Citing data from Dealroom, Panagiotis Kriaris, a fintech executive currently serving as the head of business development at German paytech company Unzer, noted in a recent blog post that the global VC funding pullback has had a limited impact on B2B fintech, compared to B2C fintech.
In 2022, B2C fintech VC funding declined 47%, plummeting from US$57 billion to just US$30 billion. In comparison, B2B fintech VC funding fell down by only 32%, declining from US$93 billion in 2021 to US$63 billion in 2022.
What’s also noteworthy is the considerably larger amount of funding the B2B fintech sector is managing to secure globally compared to B2C fintech, a sum that’s more than double what B2C fintech companies raised last year.
Untapped opportunities
Compared to B2B, B2C business models are much more vulnerable to rising inflation, interest rates and macroeconomic turbulence, investors told Sifted in recent interviews. Additionally, B2C fintech is a rather saturated space, compared to B2B fintech, implying fiercer competition to score customers and the constraint of focusing on growth at all costs to gain the critical mass needed for their business model to function.
“A lot of the B2B fintechs actually need fewer clients. Each one is much larger and brings them much more revenue,” Khalil Hefaf, an investment manager at Target Global, told Sifted.
“While on the B2C side you have to waste loads of money on marketing, on the B2B side, there’s often a network effect where each client you onboard has a network of partner companies you can tap into.”
Another reason why investors are flocking to B2B fintech is the sheer size of the addressable market. The B2B buy now, pay later (BNPL) market, for example, is expected to grow to US$200 billion in Europe and the US over the next couple of years, Berlin-based B2B BNPL startup Mondu told Sifted in May 2022.
London-based B2B BNPL startup Hokodo has an even brighter outlook for the market as it pegs the current Western European B2B BNPL market at US$12 trillion.
Rising adoption of digital technologies
For Magda Posluszny, a fintech investor at Lakestar, another major growth driver of the B2B fintech sector is the accelerated adoption of digital technologies as well as opportunities relating to helping incumbents upgrade their slow and clunky legacy technology.
“There’s always a lag while the infrastructure gets built, but when so many new fintech applications and business models emerged, what became really apparent was that interacting with banks is really difficult: they’re not designed for these higher volumes,” Posluszny told Sifted. “Payments will always be sexy: there’s still a massive problem to solve everywhere in Europe around B2B payments, so we’ll always looking for the next solution there.”
Echoing Posluszny’s statements, Unzer’s Kriaris said that “adding tangible value to all kinds of organizations across an ever-wider spectrum of segments remains a long untapped opportunity.”
He noted that the COVID-19 pandemic and the ensuing enforced digitization have drastically changed the way businesses perceive their B2B needs, and the way they buy technologies and services, prompting increased demand for B2B digital solutions.
B2C fintech companies enter the B2B space
The rise of B2B fintech is further evidenced by the flurry of B2C fintech companies building out a B2B software side to their business and launching relevant products.
In the UK, neobank Starling Bank said last year that it would sell its software to other banks to fulfil its global ambitions rather than expand via its core consumer digital banking offering. The digital bank has 3 million clients, about 500,000 of which are businesses.
BNPL leader Klarna is another fintech firm exploring B2B opportunities, launching in May 2022, its Klarna Kosma open banking sub-brand and business unit. The open banking platform focuses on connecting financial services businesses to tens of thousands of banks across Europe and the US.
Finally, payments heavyweight American Express introduced in August 2022 American Express Global Pay, a new digital solution that enables US businesses to make domestic and international B2B payments.
American Express has been strengthening its B2B propositions over the past few years, partnering in September 2021 with Extend, a New York City-based fintech specializing in virtual cards, and collaborating in Billtrust, a B2B accounts receivable automation and integrated payments leader, in April 2022.
The B2B Fintech Opportunity infographic, Source: Panagiotis Kriaris, LinkedIn, Jan 2023

Featured image credit: freepik
]]></description><link>https://fintechnews.eu/will-2023-be-the-year-of-b2b-fintechs</link><guid>3042</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Will 2023 Be The Year of B2B Fintechs?</dc:text></item><item><title>SIX Ventures and Circle Invest in Swiss Blockchain Startup Obligate (FQX)</title><description><![CDATA[Obligate, formerly known as FQX, announced it has successfully closed a seed extension funding round, allowing them to scale their blockchain-based platform for bonds and commercial paper.
Blockchange Ventures and Circle Ventures join initial seed co-investors Earlybird and SIX Fintech Ventures – bringing the total seed raise to more than $8.5 million.
With the Obligate platform, companies can issue on-chain bonds and commercial paper to obtain funding from a diverse range of investors. This comes at a fraction of the cost and time of traditional offerings but with the same regulatory certainty, as the instruments are globally enforceable, regulated debt securities. At the same time, investors get access to a wide range of regulated digital debt assets which can be secured with on-chain collateral. Utilizing smart contracts and tokenization in place of intermediaries such as paying and issuer agents, Obligate is able to reduce the costs associated with a bond issuance by 80% and reduce the time needed for an issuance from weeks to hours.




   



    
   


   








Building on their existing blockchain-based debt infrastructure, Obligate will launch its blockchain-based platform in Q1 2023 and enable end-to-end corporate debt funding in a decentralized and regulated environment.
Wyatt Lonergan
Wyatt Lonergan of Circle Ventures shares:
“Obligate is bringing new innovation to help bridge the worlds of traditional finance and DeFi. Through their platform, Obligate is adding utility and a compliant regulatory framework to the emerging real world asset (RWA) DeFi market. We are excited to back the Obligate team as they prepare for their upcoming platform launch.”
Benedikt Schuppli
Benedikt Schuppli, Obligate’s Co-Founder &amp; CEO comments:
“This backing from leading TradFi and Web3 institutions proves the value of applying blockchain technology to traditional financial instruments. This investment enables us to build a more accessible and efficient financial system where borrowers and investors are directly connected. ”
The Obligate platform will launch in February 2023 on the public blockchain Polygon. FQX was the early stage Fintech Startup winner at the Swiss Fintech Fintech Awards 2021.
]]></description><link>https://fintechnews.eu/six-ventures-and-circle-invest-in-swiss-blockchain-startup-obligate-fqx</link><guid>3043</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>SIX Ventures and Circle Invest in Swiss Blockchain Startup Obligate (FQX)</dc:text></item><item><title>Jumio Surpassed US$200 Million in Bookings Last Year</title><description><![CDATA[Online mobile payments and identity verification company Jumio announced that it had cleared over US$200 million in bookings last year.
Jumio also reported that it had closed both the largest new deal and the largest total deal in the company’s history in Q4 2022.
The firm said in a statement that it will continue to further accelerate its investment in its core technology and innovation to combat fraud.




   



    
   


   








Jumio also made several key executive hires – Susan Walker joined Jumio as Chief Financial Officer in May, bringing more than 25 years of corporate, Wall Street and business strategy experience.
Additional, CTO Stuart Wells joined Jumio in April after nearly a decade at FICO, where he served as Executive Vice President and Chief Product &amp; Technology Officer.
Robert Prigge
“Jumio’s performance in 2022 and clearing US$200 million in bookings speaks to the growth of the identity industry and also of our clear role as the leader in the space.

Despite the extremely daunting global environment, we continue to manage our business closely and focus on execution so we can evolve with the climate, and it continues to pay off. This allows us to further accelerate our investment in Jumio’s core technology and innovation in our ongoing mission to eradicate online fraud worldwide.”
said Robert Prigge, CEO of Jumio.



]]></description><link>https://fintechnews.eu/jumio-surpassed-us200-million-in-bookings-last-year</link><guid>3044</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Jumio Surpassed US$200 Million in Bookings Last Year</dc:text></item><item><title>Wealthtech Startup Everon Closes CHF 2.5 Million Seed Round from TX Ventures</title><description><![CDATA[Zurich-based fintech company Everon, which specializes in digital wealth management, has closed its seed funding round of approximately CHF 2.5 million.
The main investor in the round was TX Ventures, the VC investment arm of the Swiss media company TX Group. There were significant investments from the venture capital firm QBIT Capital and the family office Swiss 5 Group. Another private investor in this round was Dr. Wolfgang Wienand, CEO of Siegfried Holding AG.
The funding round enables Everon to continue working on its vision of opening personal and sophisticated wealth management services, which were previously reserved exclusively for high-net-worth clients . Specifically, Everon will use the funds to expand its existing activities in Switzerland, such as in Private Markets, broaden its technological offering and expand its range of services and strategies.




   



    
   


   








Florian Rümmelein
Florian Rümmelein, Co-Founder and CEO of Everon:
“We are very delighted that experienced investors and business angels such as TX Ventures, Swiss 5 Group, QBIT Capital and Wolfgang Wienand entrust us with their capital during a challenging market environment. The financing round helps us to grow our Swiss business and extend the product offering and functionalities. We see two increasing trends, which affirm our mission to democratize private banking: the need for personal advice and individual investment solutions as well as the strong need for the scalable, disruptive technologies required.”
Krzysztof Bialkowski
Krzysztof Bialkowski, Managing Partner at TX Ventures:
“The wealth industry is undergoing a paradigm shift as customers are demanding a wider array of investment options with access to alternative asset classes and a seamless and personalized service experience. Mass affluent clients, who are not well served by traditional banks, are not offered access to private banking. We believe that Everon is very well positioned to fill the gap and serve wealth management needs of mass affluent clientele with its digital private banking solutions.”

Featured image credit: Everon management team from left to right: Jonas Bächinger, Lilais Funk, Brice Zanetti und Florian Rümmelein
]]></description><link>https://fintechnews.eu/wealthtech-startup-everon-closes-chf-25-million-seed-round-from-tx-ventures</link><guid>3045</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Wealthtech Startup Everon Closes CHF 2.5 Million Seed Round from TX Ventures</dc:text></item><item><title>N26 and Bitpanda Expand Crypto Trading Product to Switzerland</title><description><![CDATA[German neobank N26 has partnered with Austrian crypto platform Bitpanda to expand its in-app crypto trading product to its customers in Germany, Portugal, Belgium, Ireland and Switzerland from €1 onwards.
The N26 Crypto was already rolled out in Austria late last year to enable N26’s customers to invest in a wide range of over 200 crypto assets.
Customers who have successfully completed N26’s identity verification and eligibility checks can access N26 Crypto from the “Trading” section within their N26 app’s new “Finances” tab.




   



    
   


   








To open a position, they simply need to select the coin and the amount they would like to trade, and the cash equivalent of the trade will be deducted from their bank balance, while coins will appear in their N26 Crypto portfolio instantly.
The same immediacy also applies when customers choose to close an open position in their N26 Crypto, with funds made available immediately in their main bank account the moment a position is closed.
Customers will be able to track their purchase history and portfolio development in real time. The transaction orders are also transparent with the fees to be reviewed and confirmed by the customers before each transaction is made.
The product will be made available progressively to eligible customers over the coming weeks effective 17 January.
Gilles BianRosa
Gilles BianRosa, Chief Product Officer at N26 said,
“The N26 banking experience has always been built around the customers’ needs, with features that make money management easy.

With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side – with cryptocurrencies being the first asset class we intend to offer.”
Valentin Stalf
Valentin Stalf, Co-founder and Co-CEO of N26 said,
“Market fluctuations aside, cryptocurrencies continue to remain a requested and interesting asset class for investors and a growing part of the financial system.

Cryptocurrency trading is often the entrypoint to investing for a new generation of investors who are looking to explore ways to grow their wealth. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees.”


]]></description><link>https://fintechnews.eu/n26-and-bitpanda-expand-crypto-trading-product-to-switzerland</link><guid>3046</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>N26 and Bitpanda Expand Crypto Trading Product to Switzerland</dc:text></item><item><title>Top Payments Trends to Look Out for in 2023</title><description><![CDATA[The outlook for the global payments market in the years to come is expected to be rather favorable, with a projected average annual revenue growth of 9% between 2021 and 2026 and total revenue set to reach US$3.3 trillion by then, according to McKinsey’s 2022 Global Payments Report.
These gains will be created by several trends and forces reshaping the landscape, including embedded finance and technological modernization efforts from banks and other industry players, the report says.
The 2022 McKinsey Global Payments Report, released in October 2022, provides a detailed analysis of the 2021 results and the insights they reveal, delving into top trends arising in the sector such as embedded finance, central bank digital currencies (CBDCs) and sustainability.




   



    
   


   








According to the report, 2021 was a fruitful year for the global payments industry, which manifested resilience despite market turbulence. In 2021, payments revenues rebounded strongly, growing 11% to reach a new high of US$2.1 trillion and exceeding expectations.
Global payments revenues, 2012-26F, Source: 2022 McKinsey Global Payments Report, Oct 2022
Within the next four years, global payments revenues are expected to continue growing steadily, facilitated by modernization efforts in the industry and new opportunities brought about fundamental changes in commerce, merchant and consumer behavior, as well as technology.
Embedded finance, a trend that has risen sharply over the past few years, will play a key role in the growth of global payments, the report says, owing to rising adoption of these solutions by both consumers and businesses.
Already, a number of non-banks and technology players are using embedded finance, leveraging these solutions to enhance their role in the commerce experience, increase their engagement with end users, and gather additional customer data. They view embedded finance as a tool to gain a competitive edge and as a way to provide their customers with the integrated experiences they request, the report notes.
At the other end of the spectrum, traditional financial services are being provided with new opportunities to address this demand by delivering the infrastructure needed to enable embedded finance, it says.
Embedded finance reached US$20 billion in revenues in the US in 2021, according to McKinsey. The consulting firm estimates that the market could double in size within the next three to five years.
Another trend outlined in the report is the push for payments modernization among banks and payments firms.
Payments infrastructures are currently undergoing full redesigns, and banks are making fundamental adjustments to their core payment systems largely in response to the continued rise of real-time payments, open banking requirements and cloud technology, the report says.
Global instant payments have grown tremendously over the past years. In India, Spain and Thailand, real-time payments usage nearly double each year, while in Australia and Singapore, it’s increasing by roughly 50% annually, the report says. In China and the UK, where real-time payments have already achieved broad adoption, growth continues at double-digit rates.
McKinsey expects global growth of instant payments to continue at double-digit rates and rise faster than the 10% growth rates for cards observed over the past two years.
Open banking, meanwhile, continues to see increased adoption, especially in Europe. In the UK, the combined adoption of account information services and payment initiation services stood at 15% of online adult in 2022, according to market research company Forrester. That proportion is projected to soar to 44% by 2027, growing at an annual rate of 23%.
Open banking payments are also expected to increase rapidly over the next five years, rising from 71 million transactions in the UK in 2022 to 1.6 billion by 2027.
The report also highlights the rise of digital payments, especially in emerging markets where innovations are proliferating.
Globally, the number of non-cash retail payment transactions increased at an annual growth rate of 13% between 2018 and 2021, according to McKinsey. That figure is the highest in emerging markets where annual growth stood at 25% during the period.
In markets with less developed payments infrastructure and where telecom companies and other providers face fewer regulatory barriers, non-bank wallets are outperforming traditional banks in digital payments usage.
In the Philippines and Vietnam, wallets are the leading e-commerce payment method, accounting for 31% and 25% of transaction value, respectively. In Thailand, wallets are the second most used e-commerce payment method after bank transfers.
Dominant digital payments players by market characteristics, Source: 2022 McKinsey Global Payments Report, Oct 2022
Other trends highlighted in the McKinsey report include sustainability and the rise to relevancy of environmental, social and governance (ESG) principles, the macroeconomic environment that’s marked by higher interest rates and inflation, geopolitical disruptions that are prompting moves to greater payments regionalization and localization, as well as the big capital market reset that has seen the valuation of “attacker” payments companies plummet and which is creating opportunities for incumbents to consider acquisitions.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/top-payments-trends-to-look-out-for-in-2023</link><guid>3047</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Bottomline-Banking-and-Payments-Report-300x250.png?x30842</dc:content ><dc:text>Top Payments Trends to Look Out for in 2023</dc:text></item><item><title>Starbucks Taps Embedded Finance to Improve Customer Experience and Increase Retention</title><description><![CDATA[Starbucks, an American multinational chain of coffeehouses and roastery reserves, has been dipping its toes into fintech for a while now, leveraging embedded finance to craft superior customer experiences and build loyalty, a new analysis by fintech-focused research firm WhiteSight shows.
The report, which delves into the firm’s fintech moves, reveals that Starbucks has embraced a variety of embedding financial and lifestyle products to extend customer engagement. These products range from mobile payments, stored value cards, gift cards and reward programs, to wearable payments, bitcoin payments and digital collectables.
According to the report, Starbucks’ fintech moves have been centered around strengthening its rewards system and loyalty program. By leveraging embedding finance products, Starbucks has maximize personalization, drive brand growth and outpace its competitors and banks in deepening customer relationships, it says.




   



    
   


   








Starbucks’ fintech journey
Starbucks formally started its fintech journey back in 2001 with the introduction of the Starbucks Card, a program that allows users to preload money into an account for later purchases. This was followed a few years later by the launch of its Starbucks Card rewards program.
In 2009, Starbucks consolidated the two concepts to form My Starbucks Rewards and launched, in tandem, the Starbucks Card Mobile App. The Starbucks Card Mobile App is a mobile payment platform that allows users to load up money to their accounts, pay for purchases using their smartphone, check their balance and view transactions. This new app was aimed at improving convenience and user experience, the report notes. It provided the company with the necessary data to understand customer preferences and behaviors, and provide them with personalized rewards, driving thus retention.
From then and up until 2015, Starbucks focused on expanding its digital payment capabilities and achieving a more frictionless payment experience. This materialized with partnerships with banks, payment networks and fintech companies to enable contactless, mobile and online payments, and build customer loyalty.
 Starbucks’ crypto moves
2016 was the year Starbucks started dipping its toes into cryptocurrencies and blockchain, announcing in December that users of its mobile app could now use IPayYou to make bitcoin payments.
In 2019, the company formally showcased its commitment to embracing blockchain, unveiling a collaboration with Microsoft to develop a blockchain-based supply chain tracking system and mobile app for customers to track the supply chain journey of the beans they buy and the coffee they drink. This was followed a few months later by a partnership with Bakkt, a crypto trading platform, to accept crypto payments.
2022 marked the start of Starbucks’ journey into the metaverse. Starbucks Odyssey, which was unveiled in September, aims to offer a new experience powered by Web3 technology, allowing Starbucks Rewards members and employees to earn and purchase digital collectible assets and use them to unlock access to new benefits and experiences.
Starbucks Odyssey was launched in beta in December, providing a small group of waitlist members in the US to participate in a series of interactive activities and earn non-fungible tokens (NFTs).
Starbucks’ fintech moves, Source: Whitesight, Dec 2022
Reward and loyalty programs to boost retention
Starbucks Odyssey is an extension of Starbucks Rewards and seeks to help the company connect with its customers in new ways, the firm said in a statement, opening access to immersive experiences both physically and digitally.
According to Starbucks’ Q4 fiscal 2022 results, the Starbucks Rewards program had 28.7 million members in the US in November 2022, up 16% year-over-year (YoY). Starbucks Rewards members drove 55% of the company’s US operating revenue for its last quarter that ended in October, officials said.
Researches have shown that loyalty and reward programs are successfully helping organizations retain their most valuable customers and drive retention.
A Nielsen study found that 84% of customers were more willing to choose a retailer that runs a loyalty program. A separate study by Wise Marketer and the Maritz Motivation revealed that 82% of consumers who participated in points-based programs were more likely to purchase more often from these companies. 52% agreed that the chance to earn points influenced them to ignore offers from competitor brands.
Featured image credit from Freepik
]]></description><link>https://fintechnews.eu/starbucks-taps-embedded-finance-to-improve-customer-experience-and-increase-retention</link><guid>3037</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Starbucks Taps Embedded Finance to Improve Customer Experience and Increase Retention</dc:text></item><item><title>Neobanking Offering:  Revolut Metal Named 2022’s Top Mobile Banking Service</title><description><![CDATA[The Mobile Banking Benchmark, an annual study by consulting company Sia Partners focusing on identifying the world’s top ten mobile banking apps, has named Revolut Metal as the best mobile banking offering of 2022.
Each year, Sia Partners performs a benchmark on mobile banking offerings, searching for the best banking apps in the world. In 2022, the benchmark assessed the performance of 150+ banking apps in 22 countries across regions, evaluating each service based on three scoring streams: functionalities, user experience, and app store ratings.
Last year, it put Revolut Metal at the ranking’s first position, recognizing the offering for its superior functionalities and convenience, as well as for recording higher customer satisfaction than competitors.




   



    
   


   








Revolut Metal is a premium debit card and account launched in 2018 by UK-headquartered neobank Revolut. It’s the company’s most premium subscription plan, costing a monthly US$16.99 but coming with several exclusive perks and features. These include metal cards made from reinforced steel, additional accounts for younger family members, a higher interest rate on “Savings Vaults”, lower fees when trading stocks and cryptocurrencies through the app, the highest free ATM withdrawal limit, cashbacks, discounted airport lounge access, travel insurance, and more.
Founded in 2015, Revolut is a digital banking startup that offers banking services, including accounts, currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing “Savings Vaults”, stock trading, crypto and commodities. The company operates in 28 European Union markets, in addition to the US, Mexico, Brazil, Japan, India, Singapore and Australia. It’s planning to launch in New Zealand in the coming months, which will be followed by more markets across Latin America, Asia, and the Middle East.
Revolut claims more than 25 million retail customers and over 330 million transactions each month. It says more than 2,000 new active businesses join Revolut Business each week.
Revolut Metal’s first position in the 2022 ranking represents an improvement for the company, which moved up two places from its previous position in 2021.
Top 20 Mobile Banking Apps, Source: 2021 Mobile Banking Benchmark, Sia Partners
After Revolut Metal, Italy’s Intesa Sanpaolo took the second position, moving up four places from 2021. The banking group was followed by KBC, a Belgian multi-channel bank-insurer, BBVA, a Spanish multinational financial services company, as well as the Starling and Monzo, two British digital challenger banks.
Newcomers in the 2022 top ten ranking include incumbents BBVA, ING and Chase. N26, a digital bank from Germany, Rabobank, a Dutch multinational banking and financial services company, and Boursorama, a French only financial group, meanwhile, fell off the list.
Chase was the only non-European company to make the 2022 ranking.
Global Top Ten Banks of 2022, Source: 2022 Mobile Banking Benchmark, Sia Partners, Nov 2022
In 2022, only three digital challenger banks made it into the ranking, compared to four in 2021. The decline implies that banking incumbents are ramping up their digital capabilities in response to customers’ changing needs and amid rising competition from new market entrants.
Findings of the Sia Partners study are consistent with those of a 2022 Colombus Consulting analysis which found that, in Switzerland, traditional banking institutions are performing better than digital challengers on their digital presence, engagement, social media and app usage.
The 2022 Digital Index and Performance of Swiss Players report, released in October, ranked UBS, PostFinance, Raiffeinsen and Credit Suisse at the top of the list.
These banks surpassed their competitors in terms of monthly web visits, average time spent by visitors, and average page load time of their websites, an indicators of their websites’ usability and performances as well as of client experience. They also ranked high in digital marketing, leading the pack in estimated annual digital market budget, the number of visits they get from banners, and the number of visits from search.
Top 5 Digital Index and Performance of Swiss Players 2022, Source: Colombus Consulting, 2022
Celent, a research and advisory firm focused on technology for financial institutions globally, estimates that global information technology (IT) spending in retail banking reached US$250 billion in 2022. It expects IT spending by retail banks in 2023 to grow 5.2% and reach US$263 billion.
By 2027, IT spending by retail banks is projected to climb to US$308 billion, representing 4.6% annual average growth from 2022 to 2027.
Increased IT spending by banks comes amid rising competition from new digital challengers. In Switzerland, independent homegrown neobanks and digital banks began emerging over the past few years, promising superior customer experiences and more affordable banking and financial services.
These players include Yapeal and Alpian, which both hold their own banking license (Yapeal’s being a fintech banking license), as well as Neon, a neobanking platform that’s partnered with Hypothekarbank Lenzburg.
Featured image credit from here
]]></description><link>https://fintechnews.eu/neobanking-offering-revolut-metal-named-2022s-top-mobile-banking-service</link><guid>3035</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Neobanking Offering:  Revolut Metal Named 2022’s Top Mobile Banking Service</dc:text></item><item><title>Impact of the Metaverse: Will it Be a 3 Trillion USD Industry?</title><description><![CDATA[The metaverse, a concept which refers to a more 3D and immersive form of the Internet, has the potential to unlock new opportunities for almost all businesses, with early estimates forecasting an economic contribution of over US$3 trillion by 2031.
But across all sectors, it is gaming, entertainment, work collaboration, social media, virtual worlds, education and fitness that are set to be the most impacted by the metaverse in the near future, a 2022 report by Credit Suisse predicts.
In a paper titled Metaverse: A Guide to the Next-Gen Internet, the Swiss bank explains what the metaverse is all about, exploring its main components as well as delving into current use cases and future trends.




   



    
   


   








According to the paper, video games will play a central role in the metaverse, given that these platforms are already built on immersive experiences with 3D graphics, virtual reality (VR)-enabled titles, platforms for user creativity.
This sentiment is shared by consulting firm EY, which found through a survey of gaming executives that most industry players (97%) believe the gaming industry to be the center of the metaverse today. All of the respondents expect companies across industries to establish a metaverse presence in the near future.
Gaming companies have been first movers in the space, having already built early prototypes of the metaverse by incorporating elements such as virtual worlds with in-game social features, payment systems and digital assets. Examples include Minecraft, Fortnite and Roblox, three highly popular games. Roblox has over 200 million monthly active users, Minecraft 170 million, and Fortnite 80 million.
In the near future, gaming platforms will be further enhanced with the metaverse, by potentially allowing a gamer to turn into a hologram and show up visually with someone in another location, the Credit Suisse report says.
In entertainment, the metaverse is opening up new opportunities in the forms of virtual concerts, virtual theme parks, immersive movie experiences, and more. Virtual events and environments have numerous advantages in the entertainment industry, the report notes, including the ability to reach a larger audience as well as opportunities for fan interaction and special effects.
In 2019, American music producer and DJ Marshmello made headlines by holding a live concert in Fortnite. 10.7 million people attended the event. Since then, other artists including Travis Scott, Ariana Grande, Blackpink and Justin Bieber have had concerts and metaverse performances, attracting millions of participants.
In social media, a number of firms are already entering the metaverse as a way to expand connectivity with the use of augmented reality and virtual reality (AR/VR), the Credit Suisse report notes.
Facebook rebranded to Meta and pivoted to the metaverse in October 2021. So far, the firm has invested a staggering US$100 billion on metaverse research and development, US$15 billion in the past year alone.
In the workspace, the metaverse is introducing new opportunities to rethink the office and work environment, potentially bringing new levels of social connectedness, mobility, and collaboration.
In India, NextMeet provides an avatar-based immersive VR platform for workers, attendees and students to meet, work and collaborate. And in the UK, PixelMax helps businesses create immersive virtual workplaces, providing them with advanced features including wellness areas, third-party integrations and personalized and interactive avatars.
Other prominent use cases of the metaverse outlined in the Credit Suisse paper include commerce, where virtual environments are offering new ways for merchants, businesses and creators to display and sell their products and services; fitness, with VR-supported workout and sports playing; and education, through virtual campus and universities, as well as hands-on practices in critical areas like medical training.
Though the metaverse industry is still nascent and remains largely conceptual at this point in time, investors have poured billions of dollars into the space, bullish on the prospect of virtual environments to unleash the next wave of digital disruption.
Consulting firm McKinsey estimates that more than US$120 billion were invested in building out metaverse technology and infrastructure in the first five months of 2022. The sum is more than double the US$57 billion invested in all of 2021.
Featured image credit from here and here.
]]></description><link>https://fintechnews.eu/impact-of-the-metaverse-will-it-be-a-3-trillion-usd-industry</link><guid>3036</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Impact of the Metaverse: Will it Be a 3 Trillion USD Industry?</dc:text></item><item><title>The City of Lugano Issues Its First Native Digital Bond on SDX With ZKB</title><description><![CDATA[The city of Lugano, Switzerland, launched a 6-year CHF senior unsecured bond with a total issue volume of CHF 100 million and a maturity in 2029. By issuing the first native digital bond, the city of Lugano is pioneering this space for all other major hubs in Europe.
The bond was issued on the Distributed Ledger Technology (DLT) based SIX Digital Exchange (SDX) and can be held in both Central Securities Depositories of SDX and of SIX (SIX SIS). In addition, as a dual listed bond, this instrument will be listed and tradeable at both SIX Digital Exchange and SIX Swiss Exchange.
The usage of DLT does not introduce materially higher risks compared to a traditional issuance, according to a statement from Moody’s, who rated the bond Aa3. This further shows the strength of the proposition from SIX Digital Exchange as a fully regulated Exchange and CSD building the financial markets infrastructure of tomorrow. SIX Digital Exchange uses R3’s private, permissioned DLT platform Corda.




   



    
   


   








Michele Foletti
Michele Foletti, Mayor of Lugano, stated,
“The City of Lugano is a pioneer in the Blockchain space and aims to become an international center of excellence for Blockchain and
David Newns
Crypto adoption. Issuing our latest bond on SDX has been the natural next step and is the perfect opportunity to reach these goals.”
David Newns, Head of SIX Digital Exchange, adds,
“the City of Lugano’s digital bond issuance on SDX represents the first municipal digital bond ever to be issued on regulated FMI “
Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/the-city-of-lugano-issues-its-first-native-digital-bond-on-sdx-with-zkb</link><guid>3034</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>The City of Lugano Issues Its First Native Digital Bond on SDX With ZKB</dc:text></item><item><title>ABN AMRO Issues Digital Bond on Stellar Blockchain</title><description><![CDATA[ABN Amro became the first bank in the Netherlands to register a digital bond on the public blockchain, using Fireblocks. The digital bond was issued to a select group of investors to raise funds on behalf of APOC, an ABN Amro commercial client in the aerospace industry.
ABN Amro’s bond issuance sets an innovative precedent in bringing more real world use cases of blockchain technology to traditional financial markets. This initiative showcases the potential of new financing streams for commercial companies across all industries.
Edwin van Bommel
“This updated digital solution for providing our medium-sized and larger commercial clients with leveraged financing fills a gap between traditional bonds and crowdfunding. Thanks to the blockchain, it’s highly efficient and very client-friendly.”
Edwin van Bommel, Chief Strategy &amp; Innovation Officer




   



    
   


   








It’s not just banks who have stepped up their adoption of blockchain technology – in October 2022, the Israel Ministry of Finance and Tel Aviv Stock Exchange issued a first-of-its-kind digital bond with Fireblocks.
How ABN Amro launched the first digital bond in Netherlands with Fireblocks and BitBond
ABN Amro collaborated with Fireblocks and BitBond on the issuance of APOC’s tokenized bond offering.

The smart contract was developed by BitBond on the Stellar blockchain.
ABN Amro then utilized Fireblocks’ end-to-end tokenization platform to securely mint/burn, and custody the token, as well as to simplify digital asset treasury management processes.
Ownership of the bonds was recorded on the blockchain in the form of tokens that investors acquired after they had paid for the bond.

Michael Shaulov
“With the issuance and distribution of its first digital bond, ABN AMRO is setting a new bar for how traditional banks can better serve commercial clients using blockchain technology. Fireblocks is proud to support ABN AMRO with secure, highly-scalable foundational technology for the issuance of digital bonds.”
Michael Shaulov, CEO and co-Founder.


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/abn-amro-issues-digital-bond-on-stellar-blockchain</link><guid>3033</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>ABN AMRO Issues Digital Bond on Stellar Blockchain</dc:text></item><item><title>Canadian Fintech Nuvei Acquires Paya in US$1.3 Billion Deal</title><description><![CDATA[Canadian fintech Nuvei announced that it has inked a deal to acquire U.S. payments firm Paya in an all-cash transaction for US$1.3 billion.
Paya is a pure-play integrated payments platform serving customers in markets such as B2B, government, utilities, non-profit and healthcare end markets.
In total, Paya processes over US$45 billion of annual payment volume and serves over 100,000 end-customers through over 2,000 software vendors and other key distribution partners.




   



    
   


   








Private equity firm GTCR had originally acquired Paya and was its largest shareholder in 2017. Paya then became a NASDAQ-listed public company in October 2020.
Aaron Cohen
“Nuvei’s acquisition of Paya marks a significant milestone in the transformation of this business.

Since the initial corporate carveout from Sage, the company has worked side-by-side with our team to implement a growth strategy centered on investing in technology and an enhanced product suite to reach new customers in attractive markets.”
said Aaron Cohen, Managing Director and Head of Financial Services &amp; Technology at GTCR.
Jeff Hack
“Today is the culmination of a five-year journey for the Paya business alongside GTCR, and we see a very bright future for Paya with Nuvei. GTCR has been an exceptional partner.

Together, we were able to leverage GTCR’s deep domain expertise in payments and Paya’s leading-edge solutions to execute an organic growth and M&amp;A investment plan that has established the company as one of the leading providers of integrated payments solutions.”
said Jeff Hack, Paya CEO.


featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/canadian-fintech-nuvei-acquires-paya-in-us13-billion-deal</link><guid>3032</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Canadian Fintech Nuvei Acquires Paya in US$1.3 Billion Deal</dc:text></item><item><title>Swiss Insurtech Toni Digital Closes $12.5M Series B</title><description><![CDATA[Zurich-headquartered startup TONI Digital has secured $12.5 million in a Series B funding round.
The company is a digital insurance-as-a-service provider, offering personal and commercial insurance lines such as motor insurance, payment protection insurance, and life solutions on top of its market-leading insurance technology platform. The company primarily pursues a B2B2C approach, working with leading retail and insurance brands as well as brokers on the distribution side.
The round was led by a consortium of distinguished investors and included the participation of existing investors, who continue to believe in the success and growth of the company.




   



    
   


   








Based on previous press releases,  Postfinance, as well as Credit Suisse, were some of the early investors. In May 2021 TONI announced a partnership with Migros.
Philippe Regazzoni
“The funding is a clear manifest of the filled pipeline of new distribution partners, the continued growth, as well as the attractiveness of TONI’s business model. The demand for digital, embedded and specialised high-value insurance programmes and solutions will further grow to serve customer’s expectations and demands.”
says Philippe Regazzoni, Director of the board.



Featured image: Bernard El Hage, Chief Executive Officer of TONI Digital, background image edited from Freepik
]]></description><link>https://fintechnews.eu/swiss-insurtech-toni-digital-closes-125m-series-b</link><guid>3031</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Swiss Insurtech Toni Digital Closes $12.5M Series B</dc:text></item><item><title>14 Swiss Venture Capitalists Fintech Startups Should Watch in 2023</title><description><![CDATA[Despite a challenging global funding landscape, Swiss startups continued to see notable traction in 2022, securing a record of CHF 3.8 billion in funding between January and November, data from Startup.ch show. The sum represents a 27% increase compared to the same period the previous year.
Swiss startup investment in 2021 and 2022, Source: Swiss Venture Insights Q3 2022, Startup.ch
2022 also saw numerous venture capital (VC) funds securing capital and many of them are now standing ready to invest in promising startups.
Data from Venturelab, a Swiss organization focusing on supporting young ventures, reveal that 34 Swiss VC firms have closed a new fund over the past year or so, and are looking for investment opportunities.




   



    
   


   








Of these 34 VCs, 14 are either focused on fintech, insurtech or regtech, or have a track record supporting startups in the sectors.
BackBone Ventures

Founded in 2018, Backbone Ventures is an early-stage VC firm based in Zurich and Frankfurt am Main that focuses on early-stage companies operating in the information and communications technology, food tech, and disruptive technologies sectors. The firm’s mission is to achieve a positive impact for the next generation by supporting outstanding entrepreneurs to reach new levels of success.
Backbone Ventures has a track record of 28 investments with already two successful exits so far. It counts fintech companies Neon, Findependent and Levo among its portfolio companies.
In November 2022, Backbone Ventures closed its 5502 Fund, a fund which focuses on Germany and Switzerland and which intends to provide the first financing for extraordinary founders of technology-driven, high-growth businesses. Over the next four years, the fund aims to invest between EUR 300,000 and EUR 500,000 in 25-30 teams of underprivileged outperformers in Germany and Switzerland.
Btov Partners

Btov Partners is a European VC firm, managing roughly EUR 510 million in institutional funds, partner funds and direct investments of private investors. With teams in St. Gallen, Zurich, Berlin, Munich and Luxemburg, the firm works with seasoned entrepreneurs and business angels to back the most promising startups across Europe.
Btov Partners portfolio companies include fintech startups SumUp, Raisin, Forget Finance, Ledgy, Procuros, Finway and Neon.
Btov Partners closed a digital technologies early-stage fund in September 2021 with a volume of US$135 million. The fund concentrates on topics such as artificial intelligence, digital health, fintech, logistics, business-to-business (B2B) software-as-a-service (SaaS) and marketplaces, all across Europe and focuses on seed and Series A stages.
EquityPitcher Ventures

Founded in 2016, EquityPitcher Ventures is an early-growth VC firm that supports promising startups from the German, Austrian and Swiss (DACH) region. The firm seeks to invest in information technology, healthcare, energy, materials and resources, and financial services sectors.
Through close cooperation with renowned industry experts, investors and exit partners, EquityPitcher Ventures is paving the way for entrepreneurs to attain the three decisive success factors: capital, know-how and network.
EquityPitcher Ventures closed its second fund in November 2022. The fund focuses on startups from the DACH region and already counts 20 portfolio companies from 12 different industries. Fintech, insurtech and regtech startups the firm has backed include Calingo, Sinpex, Vestr and YukkaLab.
F10

Founded in 2016, F10 is an incubator, accelerator, and early-stage investor focused on fintech, insurtech, regtech and deeptech. Its incubation and acceleration programs help startups in connecting with entrepreneurs, experts, mentors, and investors for early stage venture and late stage venture investing. The company was founded in Zurich and currently has operating hubs in Switzerland, Singapore, Nordics and the Baltics, and Spain.
F10 has supported more than 250 tech startups so far, among which Splint Invest, Relio, Stableton Financial, Apiax and CoverGo.
In April 2022, F10 secured capital in the “mid-single-digit million range” from external investors and the leadership team through a management buy-in. The organization said it plans to use the proceeds to expand its geographical reach and launch a seed fund to fuel startup growth.
FiveT Fintech

Formerly known as Avaloq Ventures, FiveT Fintech privately and directly invests in and supports exceptional entrepreneurs redesigning financial services through digitization and the use of cutting-edge technologies.
FiveT Fintech helps and advises banks and financial service providers to venture into new areas and provides early-stage fintech companies a platform to prosper and scale. The firm works closely together with Avaloq’s ecosystem consisting of over 150 financial institutions, spread across more than 30 countries with over US$4.5 billion in client assets, as well as 120+ fintech startups.
FiveT Fintech span off from the group in September 2021. Portfolio companies include Metaco, Blockpit, Coinfirm and Blocksize Capital.
L1 Digital

Founded in 2018, L1 Digital is a Zurich-based independent investment manager founded by experienced partners with a proven track record. The firm focuses on digital assets and blockchain technology, striving to provide investors with access to this new asset class by sourcing the best crypto and blockchain investments globally through funds, co-investments and directs; diversifying across strategies, geographies and managers; and providing institutional quality structuring, due diligence and monitoring.
L1 Digital is a fairly new venture, having received its license as a manager of collective assets from the Swiss Financial Market Supervisory Authority (FINMA) in January 2022. Collective investment vehicles involves investors pooling their money to invest in funds, rather than buying securities directly.
L1 Digital says it manages around US$500 million in assets from institutional clients such as pension funds, family offices and wealth managers.
Redalpine Venture Partners

Founded in 2006, Redalpine Venture Partners is a leading European VC investor based in Switzerland with offices in Zurich and Berlin. Redalpine Venture Partners is a seed and early-stage venture investor focusing on disruptive technologies and highly scalable information and communications technology (ICT) and healthtech models.
The firm supports its 80+ portfolio companies, across its 6 funds, not only with financial investments but also with its in-house operational and subject matter expertise and an extensive international network.
Redalpine Venture Partners has a long-standing history of investing in the most promising entrepreneurs with breakthrough ideas, having backed companies such as N26 and Taxfix. It
claims it has more than CHF 1 billion in assets under management (AUM) and says its portfolio companies have created more than 10,000 jobs and raised almost CHF 3 billion in funding thus far.
Redalpine Venture Partners launched a new private equity fund called the Summit Fund in March 2022 with a target volume of CHF 1 billion to be invested in 100 deals. In the last 15 years, the Zurich-based private equity house has already launched six funds.
TX Ventures

TX Ventures is a corporate venture arm of TX Group based in Zurich, which seeks to invest in fintech companies across Europe. The company invests in fintech, insurtech, proptech and crypto startups, focusing on seed funding and Series A with initial tickets ranging from CHF 500,000 to CHF 5 million.
TX Ventures has built a strong investment track record with investments such as Neon, Stableton, Pricehubble, and exits such as Moneypark. It currently counts 11 startups in its portfolio.
The firm launched in December 2022 a European CHF 100 million fintech investment fund with a particular focus on startups from the DACH region.
Lightbird Ventures

Launched in 2021, Lightbird Ventures is a VC firm based in Bern. The firm focuses on early-state B2B SaaS, proptech, fintech, insurtech, cybersecurity and data and analytics companies.
Lightbird Ventures invests in ambitious founding teams that use technology to solve real problems for real people and real businesses. The firm invests globally but mainly focuses on the Swiss and European markets.
The VC firm is managed through the independent investment management company Marcau Partners and fueled by its sole investor la Mobilière, Switzerland’s oldest private insurance company.
Portfolio companies include fintech and insurtech startups Mistho and Omocom.
Serpentine Ventures

Founded in 2019, Serpentine Ventures is the investment arm of the Swiss Ventures Group. The company currently hosts four funds and has invested into 25 startups in the fields of ICT, high tech as well as healthtech companies on a selective basis.
The dedicated unit offers exclusive access to venture capital investments, unlocking new opportunities in the early-stage venture asset class. It claims to be one of the most active early-stage investors.
Serpentine Ventures was founded by experienced entrepreneurs and financial services professionals and works with exceptional entrepreneurial talent to build and invest in technology driven businesses.
Serpentine Ventures’ portfolio companies include fintech and insurtech startups Cybera and Riskwolf.
Session.vc

Founded in late 2019 by startup investors Martin Altorfer and Philippe Bubb, Session.vc is a Swiss-based early-stage investor that backs bold entrepreneurs in the B2B software and consumer space in the DACH region.
Session.vc also provides acceleration services through Session Lab, providing business support and funding ranging from US$150,000 and US$300,000 per project to prepare the companies for a seed round.
Session.vc is backed by their own capital and by that of entrepreneurs and business owners both from tech- and non-tech industries. The firm has backed 19 companies including fintech startup Bexio.
Spicehaus Partners

Founded in 2012, Spicehaus Partners is an independent Swiss VC investor, fully owned by its partners. The firm focuses on seed and early-stage companies in the technology sector in Switzerland.
Spicehaus Partners’ team combines investment experience and entrepreneurship. The firm seeks to create long-term partnerships between entrepreneurs and investors and actively works with its portfolio companies on their journey to success.
Since 2012, Spicehaus Partners has invested in 34 startups and has been part of some of Switzerland’s most successful exits including MOVU (acquired by Baloise) and Bexio (acquired by Mobiliar). Fintech, insurtech and regtech companies in its portfolio currently include Amnis, Fidentity, Vlot and Descartes Finance.
Verve Capital Partners

Founded in 2010, Verve Ventures is a network and technology-driven VC firm headquartered in Switzerland. The company invests from EUR 500,000 to several million from seed to Series B and beyond across Europe.
The firm’s dedicated team helps startups with their most pressing needs such as hiring, client introductions and access to an expert network of high-profile individuals. It says it is one of the most active venture investors in Europe with over 140 technology and science-driven startups in its portfolio.
Verve Ventures’ portfolio companies include fintech and insurtech startups Wefox, EstateGuru, Oper.
Verve Ventures raised its first VC fund and closed the first capital call with over CHF 45 million committed capital from private investors, family offices, and institutional investors in June 2022. The Verve Venture Fund I invests in the best-performing startups among the company’s portfolio. It aims to accelerate the development of 15-20 companies across Europe in the fields of science and technology with a solid track record at attractive valuations.
Wingman Ventures

Founded in 2018, Wingman Ventures is a VC firm based in Zurich. The firm invests in pre-seed, and seed-stage technology startups, backing founder teams building tech companies with the potential to become global market leaders.
Wingman Ventures commits anywhere between CHF 100,000 and CHF 1 million as an initial investment. It also provides the companies it supports with guidance on finance, legal, team and expansion, sales and marketing, as well as their next fundraise.
Fintech and insurtech startups in its portfolio include Grape and Numarics.
Wingman Ventures is reportedly planning to raise a new US$120 million fund to continue to support Switzerland-based technology companies at pre-seed stage.
]]></description><link>https://fintechnews.eu/14-swiss-venture-capitalists-fintech-startups-should-watch-in-2023</link><guid>3030</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Swiss-startup-investment-in-2021-and-2022-Source-Swiss-Venture-Insights-Q3-2022-Startup.ch_.png?x30842</dc:content ><dc:text>14 Swiss Venture Capitalists Fintech Startups Should Watch in 2023</dc:text></item><item><title>Erster Schweizer Anbieter mit Versicherungsabschluss im Metaverse</title><description><![CDATA[Als erste Versicherung macht die Digitalversicherung Smile ihre Dienstleistungen und Services im Web 3.0 erlebbar.
Darunter fallen täglich buchbare, virtuelle Kundenberatungen sowie greifbare Autoschäden in der neuen smile.meta Garage. Die technische Unterstützung für das Projekt wurde vom Zuger IT- Beratungsunternehmen Inacta AG übernommen.
Smile goes Metaverse!
Die grösste Digitalversicherung der Schweiz erweitert ihre Smile Multiexperience mit der neuen smile.meta Welt. InteressentInnen können ab sofrt in die neue Smile Experience Lounge eintauchen und die Angebote und Services von Smile virtuell in 3D erleben.




   



    
   


   








Darunter fällt das smile.meta Wohnzimmer für die Haushaltversicherung und die smile.meta Garage für das Autoversicherungsangebot von Smile. Ein Novum initiiert Smile auch mit der ersten virtuellen Versicherungsberatung im Metaverse. Das InsurTech bringt ihre Customer Care Beratungseinheit ins Web 3.0 und stösst dadurch in neue Sphären vor. Hier können Smile InteressentInnen täglich Beratungstermine vereinbaren und bei Bedarf direkt eine Versicherung abschliessen.

Digitale Treffen werden individueller und persönlicher
Der Schritt ins Metaverse erfolgt keineswegs aus dem Nichts, sondern fügt sich reibungslos in die strategische Ausrichtung von Smile als digitaler Lifestyle Brand ein. Das Metaverse bietet Smile nun neue Möglichkeiten in der Kundeninteraktion, bei welcher sich die KundInnen im selben virtuellen Raum wie die Smile Customer Care MitarbeiterInnen befinden. Den Zutritt in die smile.meta Experience gelingt ganz einfach über einen Link.
Eine VR-Brille braucht es nicht zwingend, wird aber für das volle immersive Erlebnis empfohlen. Auch die virtuellen Beratungstermine können ganz einfach über die Smile Webseite gebucht werden. Durch die Verschmelzung der physischen und virtuellen Welt – ein zentrales Merkmal des Metaverse – kann physische Distanz auf unkomplizierte Weise überbrückt werden und eine verstärkte digitale Nähe zu den KundInnen entstehen.
Beispielsweise können nun vertragsrelevante Themen anschaulich erläutert werden, indem etwa verschiedene Arten von Glas- oder Parkschäden an einem Auto virtuell aufgezeigt werden. Witzig dabei: Smile verlegt seine Büros in den obersten Stock des Prime Towers in Zürich und gewährt den KundInnen während des Beratungsgesprächs im Metaverse nicht nur einen Blick auf Parkschäden, sondern auch einen wunderbaren 360° Ausblick über Zürich.
Den Puls der neuen Generationen treffen
Mit ihrem Schritt ins Metaverse bestärkt Smile ihre Vorreiterrolle in der Schweizer Versicherungsbranche. Dabei hat das InsurTech stehts das Ziel, sich frühzeitig mit neuen Technologien auseinanderzusetzen. So macht sich Smile für die Herausforderungen der Zukunft bereit und trifft als digitaler Lifestyle Brand den Puls der neuen Generationen.
Roberto Monosi
«Aktuell steht die Gesellschaft beim Thema Metaverse noch ganz am Anfang. Durch den immersiven Charakter sehen wir aber grosses Potential, ein völlig neues Kundenerlebnis zu schaffen und KundInnen von heute und morgen zu begeistern. Dafür machen wir uns mit der smile.meta Experience bereit»,
so Roberto Monosi, Head Customer Care bei Smile.

]]></description><link>https://fintechnews.eu/erster-schweizer-anbieter-mit-versicherungsabschluss-im-metaverse</link><guid>3029</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Erster Schweizer Anbieter mit Versicherungsabschluss im Metaverse</dc:text></item><item><title>Projekt Digitales Firmenkonto: CHF 3 Millionen für Relio, TX Ventures und SIX Investieren</title><description><![CDATA[Relio erhält eine Finanzierung von CHF 3 Millionen für die Lancierung eines digitalen Geschäftskontos. Mit seiner neu entwickelten Compliance-Technologie spezialisiert sich das Startup vor allem auf komplexe Firmenkunden.
Zu den Hauptinvestoren zählen TX Ventures (TX Group), SIX Fintech Ventures (SIX Group) und der High-Tech Gründerfonds. Hinter Relio steht ein erfahrenes Team um Lav Odorovic, der bereits in Deutschland die erfolgreiche KMU-Neobank Penta gegründet hat.
Digitales Geschäftskonto für anspruchsvolle Firmenkunden
Neobanken wie Revolut oder Wise haben in Europa die Digitalisierung im Banking angeführt. Wegen der Compliance stossen Digitalbanken jedoch bei vielen Unternehmenskunden an ihre Grenzen. Komplexe Eigentumsverhältnisse, internationale Geldflüsse und komplizierte Businessmodelle bergen höhere Risiken hinsichtlich Betrug und Geldwäscherei. Aufgrund der aufwändigen Due Diligence warten solche Kunden oft mehrere Wochen auf die Kontoeröffnung.




   



    
   


   








Immer wieder werden Transaktionen und Konten präventiv eingefroren, bis sie von Experten manuell überprüft wurden. Für Geschäftskunden, die rechtzeitig Löhne und Rechnungen zahlen müssen, ist das sehr frustrierend. Relio hat einen Algorithmus entwickelt, der diese Compliance-Checks schnell, präzise und automatisiert durchführt. Damit positioniert sich das Fintech als Lösung für anspruchsvolle Firmenkunden, die viel Wert auf einen zuverlässigen Service ohne Bürokratie und Wartezeiten legen.
Finanzierungsrunde für bevorstehenden Marktstart
Lav Odorovic
Relio wurde vom CEO Lav Odorovic initiiert, der mit Penta bereits eine erfolgreiche KMU-Neobank in Deutschland aufgebaut hat. Mit der aktuellen Finanzierungsrunde werden die Entwicklung der technischen Infrastruktur und die Erlangung der FINMA Fintech Lizenz vorangetrieben.
Unterstützt wird Relio von SIX Fintech Ventures, High-Tech Gründerfonds (HTGF), sowie TX Ventures als neue Lead-Investorin. Zum Investorenkreis gehören zudem F10, Elsa Invest, daFUND, QBIT Capital sowie mehrere Business Angels.
]]></description><link>https://fintechnews.eu/projekt-digitales-firmenkonto-chf-3-millionen-fur-relio-tx-ventures-und-six-investieren</link><guid>3027</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Projekt Digitales Firmenkonto: CHF 3 Millionen für Relio, TX Ventures und SIX Investieren</dc:text></item><item><title>Duck Creek to Acquire Swiss Imburse Payments</title><description><![CDATA[
Nasdaq listed Duck Creek Technologie announced a definitive agreement to acquire Imburse Payments, a Swiss-based modern payments platform.

Duck Creek is according the PR an “intelligent solutions provider defining the future of property and casualty (P&amp;C) insurance.”,  they are based in Boston.

Imburse’s cloud-native software-as-a-service (SaaS) payment solution is built for the insurance industry. The modern payments platform brings greater ease and efficiency into end-to-end insurance transactions. Imburse enables insurance carriers to quickly connect to the entire payments ecosystem at a lower cost, seamlessly integrate with existing finance infrastructure and processes, and manage multiple partners for collections and disbursements, all in one place. The platform is consumer friendly and provides policyholders with both an easy-to-use, flexible payments experience and the ability to quickly and securely direct payments.




   



    
   


   








As part of Duck Creek, Imburse will continue to serve its existing client base and markets, while accelerating expansion plans for new clients across Europe and into North America and Asia-Pacific. The Imburse platform will continue to be available on a stand-alone basis and will also be fully integrated with Duck Creek’s suite of technology solutions, further enabling carriers’ digital transformation goals with modern tools.
Mike Jackowski
“Imburse has developed a great product for the global insurance industry that is not only easy to integrate and implement, but also gives carriers incredible flexibility and payment choices,”
said Mike Jackowski, CEO of Duck Creek Technologies.
“Imburse has a strong team that embodies Duck Creek’s core values. They have deep expertise across the payments ecosystem and will help to broaden Duck Creek’s insurance industry leadership.”
Oliver Werneyer
“Being part of Duck Creek will further accelerate our mission to simplify how businesses around the world access the global payments ecosystem,”
said Oliver Werneyer, CEO of Imburse.
“We are excited to be part of Duck Creek and to work jointly to deliver modern technology innovations that transform the insurance industry for the future.”
The acquisition remains subject to customary closing conditions and is expected to close during the second fiscal quarter of 2023.

]]></description><link>https://fintechnews.eu/duck-creek-to-acquire-swiss-imburse-payments</link><guid>3028</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Duck Creek to Acquire Swiss Imburse Payments</dc:text></item><item><title>The Implications of ChatGPT and AI Models on Fintech and Banking</title><description><![CDATA[A new text-based artificial intelligence (AI) tool called ChatGPT is making waves in the technology industry for its ability to accurately answer questions and complete a wide range of tasks, from creating software to formulating business ideas.
Launched on November 30, 2022 by OpenAI, the AI program has already impressed users and technologists with its ability to mimic human language and speaking styles, all the while providing coherent and topical information. In the span of just a couple of days, the service managed to cross the one million user threshold.
Now, industry observers and commenters are theorizing on the technology’s potential implications in the finance and banking sector.




   



    
   


   








According to Ethan Mollick, an associate professor of management at The Wharton School of the University of Pennsylvania, ChatGPT is a tipping point for AI and proof that the technology can be useful to a broader population of people.
In the business world, the ability to generate written content in a fast and accurate manner means that productivity can be increased in a variety of industries, Mollick wrote in a recent blog post on Harvard Business Review. This will help organizations save time and resources, and allow employees to focus on other important tasks.
“This is particularly beneficial for industries such as marketing and advertising, consulting, and finance, where high-quality written materials are essential for communicating with clients and stakeholders,” he wrote. “Overall, the use of AI in writing will greatly benefit businesses by allowing them to produce more written materials in less time.”
For Alex Lazarow, a global venture capitalist (VC) and author, AI models like ChatGPT will not only affect fintech thought leadership, but could also potentially deliver financial services.
For one, these tools can significantly improve customer support and power a new class of services and chatbots, Lazarow wrote in a Forbes post. They can also be used for investment research, allowing analysts to scale their work beyond a narrow number of stocks.
Finally, AI models can help tackle transaction complexity, he said. If these tools are able to formulate sophisticated answers to complex questions, they should also be able to do the same for legal drafting. This would help accelerate the fluidity of review for startup deals, but also all illiquid assets, Lazarow wrote.
Demand for AI among businesses has increased steadily over the past year. Data from the Global AI Adoption Index 2022, conducted by Morning Consult on behalf of IBM, reveal that 35% of the 7,500+ businesses surveyed last year used AI. The figure represents a four-point increase from 2021. Additionally, 42% of companies reported exploring AI.
IBM research also found that between the first and second quarter of 2022, there was an increase of 259% of job postings in the AI domain, Ana Paula Assis, IBM’s general manager for Europe, the Middle East and Africa (EMEA), told Euronews in December 2022.
In the UK, the central bank is currently looking at AI regulation amid accelerating use of machine learning (ML) by financial firms. A discussion paper was released in October 2022 to explore whether AI could be managed through clarifications of the existing regulatory framework, or if a new approach was needed.
The paper was accompanied by the Bank of England’s second annual survey on the use of machine learning (ML), which found rising AI adoption. Of the financial institutions polled in the UK, 72% reported either using or developing ML applications. The figure represents a five point increase from 2019’s 67% adoption rate.
ML adoption among UK financial institutions, Source: Bank of England, Dec 2022
The study also found that ML applications are becoming increasingly widespread across more business areas in the UK’s financial sector. From the survey responses, 79% of ML applications were found to be in the latter stages of development. In particular, 65% of applications were already deployed across a considerable share of business areas, with a further 14% of ML applications reported to be critical to the business area.
ML applications stage of development, Source: Bank of England, Dec 2022
Funding to AI companies has increased considerably over the past decade. In 2013, companies using AI secured US$3 billion through fewer than 1,000 deals, according to Crunchbase. In 2021, that sum peaked at US$69 billion across over 4,000 rounds. In 2022, global AI funding totaled US$38 billion, as of late November.
Annual venture investment in companies tied to AI, Source: Crunchbase, Nov 2022

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/the-implications-of-chatgpt-and-ai-models-on-fintech-and-banking</link><guid>3026</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>The Implications of ChatGPT and AI Models on Fintech and Banking</dc:text></item><item><title>Switzerland’s Premier Crypto Conference Returns With a Two-Day Format in Zurich &amp; Davos</title><description><![CDATA[﻿Wrapped around the Annual Meeting of the World Economic Forum (WEF), the CryptoSummit.ch will kick off on Monday, 16th January 2023 at the Hyatt Circle Conference Centre at Zurich airport. The second day of the event is set to take place on Friday, 20th January 2023 in Davos.

The theme of CryptoSummit.ch 2023
The theme of the CryptoSummit.ch 2023 is regaining trust in crypto and advancing technology.
It is set to open with the keynote from Charles Hoskinson, the Founder of Cardano Foundation, followed by a broad series of topics throughout the day, such as Bitcoin and Ethereum evolution, layer 2 scaling solutions, Defi, Web 3 and applications in the banking industry. Investors may be interested in topics like the crypto market outlook in 2023, the best investment strategies in a bear market, as well as the institutional move into crypto.
Other speakers also include Yoni Assia, Founder and CEO of eToro, Peter Hofmann, Switzerland’s Regional Manager of Coinbase, Christian Rau, Senior Vice President of Mastercard, and many more.
Masterclasses will also be running in parallel to the conference, which are designed to will provide educational content in a compressed crash-course style for beginning crypto investors.
The event will continue at the end of the week, 20th January in Davos, with speeches and panels to provide more insights. The end of the conference will be dedicated to the most outstanding contributions of individuals during this year for crypto, closing with the 2023 award ceremony in three categories: technology, business and regulation &amp; society.
Day one will take place at the new luxury Hyatt Circle conference centre at Zurich Airport
A total of 1,500 tickets are now available for the CryptoSummit.ch. Conference delegates can choose between one-day ticket for Zurich or Davos only or a two-day ticket, starting from 230 CHF.
Olga Feldmeier, founder of CryptoSummit.ch and decade-long crypto industry pioneer said, “The new phenomenon which started to take shape during the last years is the gathering of crypto leaders in Davos during the WEF week. The accumulation became a colourful addition and integral part of the Davos WEF week in January. Together we bring to the table the conversation about our future in a decentralized, permissionless and thrustless society, build according to principles of WEB3. These topics are more important than ever and will go on to shape the global society that we live in, which is why, we think it is important to give a proper stage of its own to this audience during the WEF week.”
Since its inaugural event in 2017, CryptoSummit.ch has become the longest standing and largest crypto conference ever staged in Switzerland, attracting the brightest minds of the crypto industry from all around the world. Taking place at the most prestigious conference venues in Zurich such as Samsung Hall, StageOne and Aura, 3,250 people came to CryptoSummit.ch, while around 50.000 visitors tuned in digitally. They listened to 250 industry leading speakers, such as Charles Hoskinson, Joseph Lubin, Tim Draper, Daniel Gutenberg as well as high level innovators from the banking sector.
For more information on how to get tickets or sponsor the event, visit cryptosummit.ch.
View the trailer for previous editions of the summit: Crypto Summit 2018 | Trailer
﻿
]]></description><link>https://fintechnews.eu/switzerlands-premier-crypto-conference-returns-with-a-two-day-format-in-zurich-davos</link><guid>3025</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Olga-Feldmeier-founder-of-CryptoSummit.ch_-1024x685.jpg?x30842</dc:content ><dc:text>Switzerland’s Premier Crypto Conference Returns With a Two-Day Format in Zurich &amp; Davos</dc:text></item><item><title>Top Destinations for Online Fintech Workers and Digital Nomads in 2023</title><description><![CDATA[Technological advances and the COVID-19 pandemic have spurred a rapid shift in working practices, prompting a growing number of people with jobs not tied to a specific location to travel the world all the while working remotely.
These changes in the world and the rise of so-called “digital nomads” have had important ramifications for immigration systems worldwide, pushing governments to factor remote work into their immigration systems and introduce digital nomad visas.
Since Estonia introduced the world’s first remote work program in 2019, at least 25 other countries and territories have launched their own digital nomad visa programs, according to a 2022 research by the Migration Policy Institute. These schemes typically provide visa holders with a time-limited opportunity to stay in the country and include tax benefits.




   



    
   


   








Given the flurry of options available out there, travel news website Travel Off Path recently released its selection of what it believe to be the world’s top destinations for digital nomads in 2023. These locations, namely Costa Rica, Croatia, Montenegro and Colombia, were recognized for providing the best immigration policies, living conditions, high affordability and superior quality infrastructure.
Today we’ll look at the reasons why these locations are so compelling to digital nomads, delving into what long-term travelers can expect when moving to these countries, as well as the requirements and eligibility criteria to secure a digital nomad visa in each of these locations. For this list, we’ve also added Dubai, building on the recent launch of its virtual working program and its long-standing position as a world leading hub for expats.
Dubai
Dubai, United Arab Emirates
The emirate of Dubai in the United Arab Emirates (UAE) is known for its extensive expat community which made up 85% of the city’s population in 2013. These people have chosen the location for its many benefits, including attractive climate, many job opportunities, low taxes, low crime rate and superior qualify infrastructure.
Today, the city is ranked among the world’s best locations for expats and digital nomads, a position the government is looking to cultivate with the launch of its virtual working program.
Announced in 2020, Dubai’s virtual working program is similar to a digital nomad visa. The scheme allows foreigners, entrepreneurs, and startup companies to live in the emirate for one year and continue to work for the organization they already work for, remotely. The visa can be renewed for a further 12 months after that.
Eligibility criteria include being a foreigner employed outside the UAE and earning a minimum salary of US$5,000 per month.
To apply for the visa, the applicant must have a passport with a validity of minimum six months, have a valid health insurance covering their residency in the UAE, and pay the US$287 fee. They also need to provide proof of employment with a contract valid for one year as well as the salary slip for the last month and bank statements for the preceding three months.
If the applicant is a company owner, they will need to provide proof of ownership of company for one year or more, have an average monthly income of US$5,000 per month, and provide bank statements of the company’s account for the preceding three months.
Benefits of the virtual working program include access to all local services including telecommunications, utilities, medical and schooling; access to Dubai’s robust and seamless digital infrastructure; global networking opportunities; and zero income tax for individuals.
Costa Rica
Puerto Viejo de Talamanca, Costa Rica
Costa Rica is a leading backpacker destination in Central America, recognized for its biodiversity, incredible national parks, as well as for being the global capital of adventure tourism.
In recent months, however, the country has taken center stage in the digital nomad scene by being among the limited few countries on the American continent to offer a digital nomad visa.
Launched just this year, Costa Rica’s digital nomad visa allows visa holders to work remotely from the country. The program extends a 90-day tourist visa to a full year, exempts digital nomads from income tax, and provides them with benefits such as the ability to open a national bank account and the validation of their home country’s driver’s license. Digital nomads may also waive customs taxes on telecommunications and electronic devices necessary to fulfill remote work requirements.
Eligibility criteria include earning a minimum of US$3,000 per month originating from outside of Costa Rica. That income requirement is increased to a minimum of US$4,000 per month if the applicant wishes to apply for their dependents to legally stay in the country. Applicants will need to provide proof of employment or of entrepreneurship, proof of income, and proof of health insurance running during their whole stay in Costa Rica.
The cost of the visa is US$1,000.
Croatia
Dubrovnik, Croatia
Croatia, a country at the crossroads of Central and Southeast Europe, has become over the years one of the most popular European tourist destinations, owning to its beautiful protected natural areas, breathtaking landscapes, pleasant climate and rich cultural heritage.
Last year, the country became among the first members of the European Union (EU) to launch a digital nomad visa, allowing remote workers to reside in the country for up to a year and bring in their close family members.
The program is open to non-EU/EEA citizens working remotely, and to those with a stable monthly income of a minimum of EUR 2,300. Visa holders are exempted from income tax.
Applicants will need to show a proof of health insurance for the duration of their stay, provide proof of income, submit a clean criminal certification, and provide a booking confirmation or rental agreement. Their travel document will need to be valid for at least three months after the digital nomad visa’s expiration date.
Montenegro
Kotor, Montenegro
Though still unknown by many, the tiny country of Montenegro in the Balkans is quickly becoming an up-and-coming expat destination, owing to its mild climate, beautiful scenery, low cost of living, and relaxed lifestyle.
The location is particularly popular among adventure seekers, thanks to its rugged geography which provides optimum conditions for snow sports during winter and stunning hiking trails in the summer.
This year, the government adopted changes to the Law on Foreigners, paving the foundations for new immigration policies for digital nomads. The details are still being finalized but some information have already been released.
According to the National Tourism Organisation of Montenegro, entrepreneurs and remote workers will be able to choose between schemes. The D Visa will be available to those looking to spend just a couple of months in the country, allowing visa holders to reside in Montenegro for up to 180 days in total during a one-year period, with multiple entries, if needed.
Those looking to stay longer can opt for a resident permit and will be required to provide proof of employment at a foreign company. The residence permit for digital nomads will be granted for two years, with the ability to extend for another two years at maximum.
Visa holders will be able to apply for residence permits for their spouse and children on the grounds of family unification.
Colombia
Cartagena, Cartagena Province, Bolivar, Colombia
Colombia is a culturally rich country, boasting pristine beaches, natural parks and beautiful colonial villages. Though its past reputation has dissuaded many foreigners to set foot on its shores, that trend is changing. Colombia is now beginning to attract a growing number of digital nomads and expats looking to enjoy its rich culture, diverse topography and low cost of living.
This year, the country introduced its digital nomad visa, allowing foreign nationals the opportunity to work from Colombia for up to two years. The scheme is available to those who wish to provide services as remote workers from Colombia, provided that these individuals do not work for a company with a presence in the country. The visa is also open to people who wish to start a business in the field of digital or information technology.
Another requirement is that the person applying for this visa must have a health insurance policy with coverage for any unforeseen event that may arise while in Colombia.
The program has been deemed one of the most affordable digital nomad visas in the world, requiring applicants to earn at least US$684 per month, a threshold that’s much lower that locations like Costa Rica which requires a minimum of US$3,000 per month.
Other requirements include having a valid passport that’s not set to expire during the temporary residence, show proof of earnings, take out health insurance, undergo a background back, and pay the application fee of US$22.8.

Featured image credit: edited from freepik
]]></description><link>https://fintechnews.eu/top-destinations-for-online-fintech-workers-and-digital-nomads-in-2023</link><guid>3024</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2023/01/Crypto-Summit-2023-1.png?x30842</dc:content ><dc:text>Top Destinations for Online Fintech Workers and Digital Nomads in 2023</dc:text></item><item><title>The FTX EMEA Empire That Never Was</title><description><![CDATA[If you could peer into the mind of Sam Bankman-Fried, what would you see? Maybe it doesn’t bear thinking about. In the summer, empire building in Europe, the Middle East and Africa was very much on the mind of the FTX crypto mogul.
I’ve already uncovered plans of the FTX crypto group to buy the Swiss NPB Neue Privat Bank, which were frustrated by the financial regulator’s demands. But that was just the tip of the iceberg.
According to documents I’ve seen, the Swiss-based FTX Europe was to be housed under a Cypriot holding company (FTX EMEA) that would be armed with a $300 million war chest for acquisitions, including NPB.

By the late summer, FTX had drawn up a shopping list of targets that encompassed banking, digital payments, brokerage services and blockchain-based derivatives trading.
Had all gone to plan, FTX would have controlled entities based in Switzerland, Cyprus, Britain, Ireland, Germany, Luxembourg, the United Arab Emirates and various parts of Africa.
But nothing went to plan. Even before FTX crashed into bankruptcy in November and faced subsequent fraud charges, the group had apparently dropped plans to acquire some target companies, according to sources.
Among the items crossed off the shopping list between July and November were Swiss fintech payments firm Klarpay and the Luxembourg-based BTC Africa, which operates the blockchain payments service BitPesa in Africa.

Clients trapped on FTX Europe
We know that the expansion of the Swiss-based FTX Europe into a vast EMEA operation run from Cyprus didn’t happen. But what happens now with the FTX Europe that does exist?
FTX Europe was created when FTX bought the Swiss company Digital Assets for more than $300 million in November 2021. It was officially unveiled as an FTX entity in February of this year and later gained licenses to trade in Cyprus and Dubai (now suspended).
The business model is creating digital versions of financial assets, with a focus on derivatives, that trade on blockchains. When FTX group went into bankruptcy FTX Europe had well over 40,000 active accounts spread all over Europe.
These now frozen accounts contained derivative positions with a nominal value of over CHF45 million plus around CHF5.5 million in cash when FTX filed for bankruptcy on November 11.
FTX’s liquidator appears willing to sell FTX Europe along with other regional divisions that were unconnected with the alleged fraud taking place at group HQ in the Bahamas.
We’ll have to wait to see how that pans out – which is when I look forward to reconnecting with more tales of crypto’s biggest bust.
]]></description><link>https://fintechnews.eu/the-ftx-emea-empire-that-never-was</link><guid>3023</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/FTX-1024x809.jpg?x30842</dc:content ><dc:text>The FTX EMEA Empire That Never Was</dc:text></item><item><title>Year End Message to Our Readers – Offline From 23rd December to 2nd January</title><description><![CDATA[Fintech News Switzerland would like to take this opportunity to wish all our readers a Merry Christmas and a very Happy New Year.
We will be taking a break from the 23rd December 2022 to the 2nd January 2023.
Until then, you can access some of our year-end articles that may be of interest to you. We look forward to seeing you all again on the 3rd January 2023!





Crypto Winter Wipes Out 72,000 Bitcoin Millionaires in 2022

BIS: New Global Bank Standards for Cryptoassets

IFZ Insurtech Study: European Insurtech Industry Increased 20% This Year

The Swiss Fintech Worldcup Football Team 2022

Swiss Universal Banks Top Digital Performance Ranking Ahead of Neobanks and Challengers

]]></description><link>https://fintechnews.eu/year-end-message-to-our-readers-offline-from-23rd-december-to-2nd-january</link><guid>3022</guid><author>Administrator</author><dc:content /><dc:text>Year End Message to Our Readers – Offline From 23rd December to 2nd January</dc:text></item><item><title>Visa Plans on Auto Crypto Payments</title><description><![CDATA[The rise of blockchain and cryptocurrencies has changed the way we think about digital money movement — creating opportunities for a new generation of financial applications. Visa reported that they are in the early stages of blockchain development and it remains unclear which use cases will become widely adopted, which will get left behind, and which have yet to be explored.
A team of researchers and engineers across Visa is working together to study the foundations of various blockchains — including the security, scalability, interoperability and privacy of different protocols — and propose possible use cases.
Catherine Gu

”To help our clients and partners innovate, we need to immerse ourselves in technologies that can bring real value to the payments ecosystem,”
said Catherine Gu, Head of CBDC and Protocols at Visa.
“We’re focused on growing our core competencies in Web3 infrastructure layers and blockchain protocols driving crypto development.”



Bringing auto payments to blockchain
Many of us rely on automatic payments to pay monthly bills. In a few simple steps, Visa can set up recurring payments with a local utility or subscription provider. With blockchain technology potentially representing a new way to process payments in a distributed and programmable fashion, could this everyday payment experience be replicated, or even improved, on the blockchain? Visa is exploring exactly that.
In a new technical piece, Visa outlines how to write a smart contract application for a self-custodial wallet, meaning a wallet that is controlled exclusively by the user and the associated private key. This application could allow a user to setup a programmable payment instruction that can push funds automatically from one self-custodial wallet account to another at recurring intervals, without requiring the user’s active participation each time.
This solution taps into a concept known as “Account Abstraction” (AA), a developer proposal currently being explored within the Ethereum ecosystem. The idea behind Account Abstraction is to make user accounts on Ethereum function more like smart contracts by allowing a user to have programmable features embedded into their wallets.
In the paper, the Visa team demonstrates a potential application of AA: a new type of account contract that can delegate the ability to initiate a payment by a user account to a pre-approved autopayment smart contract, mimicking the process you use today to set up a recurring card payment. If, or when, concepts like AA are enabled on Ethereum, Visa’s proposal could help bring familiar payments experiences, like auto payments, to the blockchain ecosystem.
Understanding the impact of blockchain
While blockchain technology and digital assets are still in their infancy, we’re digging into these emerging innovations to determine how they can impact money movement today, and into the future. Security and seamless user experience will be essential for the widespread implementation and adoption of blockchain. Visa will continue to explore these evolving technologies and concepts — including common consensus mechanisms, privacy and scaling solutions, and other possible blockchain use cases — to create a bridge between crypto ecosystem and our global network of clients and merchant locations.
Learn more about Visa’s research on blockchain foundations at visa.com/crypto/thoughtleadership 

This PR first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/visa-plans-on-auto-crypto-payments</link><guid>3021</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/AM.png?x30842</dc:content ><dc:text>Visa Plans on Auto Crypto Payments</dc:text></item><item><title>Banking and Fintech Players Embrace Cloud-Based Core Banking Platforms</title><description><![CDATA[2022 has seen a large number of banks and fintech companies embrace cloud-native architectures, inking strategic partnerships with modern core banking providers and technology specialists to modernize their core infrastructure and evolve for the digital age, a new analysis by fintech research company Whitesight shows.
This year, incumbents and fintech companies from across the globe have accelerated the move of their core functions to the cloud, waking up to the urgency to embrace cloud-native architecture to create higher customer expectations, gain agility and cut costs.
The Whitesight analysis notes that tech providers like Temenos and Finastra have seen increased interest from banks, showcasing that financial incumbents are increasing turning to cloud-native architectures as they seek to improve customer experience, enable business continuity, and achieve operational efficiencies and resilience.

Temenos, a Swiss banking software company that offers cloud-native, cloud-agnostic, and artificial intelligence (AI)-driven front office, core banking, payments and fund administration software, claims that over 3,000 banks, including 41 of the top 50 banks, use its products.
And Finastra, a London-based provider of financial software applications and marketplaces, says it serves about 8,600 institutions, providing them with software solutions and services across lending, payments, treasury and capital markets and universal banking.
Besides banking incumbents and traditional financial institutions, fintech companies and digital challengers as well are leveraging cloud-native core banking systems from providers like Mambu and Thought Machine. These are seeking increased flexibility, cost-effective scalability as well as the ability to offer superior specialist propositions for niche market segments.
This year, software-as-a-service (SaaS) cloud banking platform Mambu has onboarded a number of new customers, including names such as Bob Finance, a Swiss digital consumer finance offering, Ashman, a new entrant bank serving small and medium-sized enterprises (SMEs), and Okeo, a digital payment service provider for European entrepreneurs and businesses.
Designed to fast-track the development of nearly any type of financial offering for banks, lenders, fintech companies, retailers, telcos and more, Mambu’s banking platform is said to be used by 230 customers, including N26, Raiffeisen Bank, ABN AMRO, Bank Islam and Orange Bank.
Similarly, Thought Machine, a cloud-native banking technology company, has enrolled several notable names in the industry this year, onboarding the likes of C6 Bank, one of Brazil’s fastest growing digital banks, Trust Bank, a new digital bank in Singapore, and Payset, an online payment platform and provider of multi-currency accounts from the UK.
Thought Machine’s cloud-native banking platform, called Vault Core, is also being used by large-scale multinational banks, including JPMorgan Chase, Standard Chartered and Intesa Sanpaolo.
Partnerships between tech providers themselves are also being signed, the Whitesight report notes. Typically, these tie-ups aim to provide banks and financial service providers with solutions that address emerging trends like open banking.
For example, open banking startups like Salt Edge and Trade Ledger have curated strategic partnerships with core banking providers such as Thought Machine and Neo by Five Degrees to enable banks to comply with open banking regulations and access API capabilities.
Others are collaborating to increase their capabilities, provide their customers with specialist niche products and differentiate from competitors. Such partnerships include the collaborations between core banking platform providers Skaleet, Neo by Five Degrees and Tuum with the likes of Thunes, a business-to-business (B2B) cross-border payments network, Fourthline, a provider of digital know-your-customer (KYC) and anti-money laundering (AML) compliance solutions, and Bricknode, a brokerage-as-a-service provider.
Core banking camaraderie in 2022, Source: Whitesight, Dec 2022
According to an Accenture study, 82% of executives at banks polled by the consulting firm said they planned to have at least half of their mainframe workloads in the cloud 10 years from now, and 31% of them had already reached that stage.
SaaS cloud banking platform Mambu and research and advisory firm Celent estimate that financial institutions globally could save up to US$246.1 billion running a cloud-native core over five years, a 76% reduction in core spend and a 15% savings in total IT costs over the same period.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/banking-and-fintech-players-embrace-cloud-based-core-banking-platforms</link><guid>3020</guid><author>Administrator</author><dc:content /><dc:text>Banking and Fintech Players Embrace Cloud-Based Core Banking Platforms</dc:text></item><item><title>BIS: New Global Bank Standards for Cryptoassets</title><description><![CDATA[The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 16 December to endorse a finalised prudential standard on banks’ cryptoasset exposures and the Committee’s work programme and strategic priorities for 2023–24.
Tiff Macklem
” Today’s endorsement by the GHOS marks an important milestone in developing a global regulatory baseline for mitigating risks to banks from cryptoassets. It is important to continue to monitor bank-related developments in cryptoasset markets. We remain ready to act further if necessary. “
Tiff Macklem, Chair of the GHOS and Governor of the Bank of Canada
Pablo Hernández de Cos
” The Committee’s standard on cryptoasset is a further example of our commitment, willingness and ability to act in a globally coordinated way to mitigate emerging financial stability risks. The Committee’s work programme for 2023–24 endorsed by GHOS today seeks to further strengthen the regulation, supervision and practices of banks worldwide. In particular, it focuses on emerging risks, digitalisation, climate-related financial risks and monitoring and implementing Basel III. “
Pablo Hernández de Cos, Chair of the Basel Committee and Governor of the Bank of Spain

Cryptoassets
The GHOS endorsed the Committee’s finalised prudential treatment for banks’ exposures to cryptoassets. Unbacked cryptoassets and stablecoins with ineffective stabilisation mechanisms will be subject to a conservative prudential treatment. The standard will provide a robust and prudent global regulatory framework for internationally active banks’ exposures to cryptoassets that promotes responsible innovation while preserving financial stability. GHOS members agreed to implement the standard by 1 January 2025, and tasked the Committee with monitoring the implementation and effects of the standard.
While the global banking system’s direct exposures to cryptoassets remain relatively low, recent developments have further highlighted the importance of having a strong global minimum prudential framework for internationally active banks to mitigate risks from cryptoassets. To that end, the GHOS tasked the Committee with continuing to assess bank-related developments in cryptoasset markets, including the role of banks as stablecoin issuers, custodians of cryptoassets and broader potential channels of interconnections. More generally, the Committee will continue to collaborate with other standard-setting bodies and the Financial Stability Board to ensure a consistent global regulatory treatment of stablecoins.
Basel Committee work programme for 2023–24
The GHOS also endorsed the strategic priorities and work programme of the Committee for 2023–24. In addition to pursuing a forward-looking approach to identifying and assessing emerging risks and vulnerabilities to the global banking system, the work programme places high priority on work related to the ongoing digitalisation of finance, climate-related financial risks and monitoring, implementing and evaluating the Basel III framework.

Featured image credit: Edited from Unsplash and Freepik
]]></description><link>https://fintechnews.eu/bis-new-global-bank-standards-for-cryptoassets</link><guid>3019</guid><author>Administrator</author><dc:content /><dc:text>BIS: New Global Bank Standards for Cryptoassets</dc:text></item><item><title>Swiss Government Plans to Promote Open Finance in 2024</title><description><![CDATA[During its meeting on 16 December 2022, the Federal Council discussed open finance developments in Switzerland.
It has instructed the Federal Department of Finance (FDF) to submit measures to it by June 2024 in the event that the financial sector does not sufficiently commit to opening up its interfaces.
Open finance enables financial data to be exchanged via standardised and secure data interfaces at the request of clients. For example, someone who has accounts at several banks could use the app of one of those banks or a fintech to manage all accounts. Furthermore, financial data could be automatically combined with other data to calculate a carbon footprint, for example.

Unlike in other countries, such as the United Kingdom (PSD2) or EU member states, there is currently no legal obligation in Switzerland for financial institutions to make financial data available to third-party providers at their clients’ request.
The February 2022 Federal Council report on digital finance stipulates that the need for action to promote and expand open finance should be reviewed on a regular basis. During its meeting on 16 December, the Federal Council took note of open finance developments in Switzerland and the outlook for the future. The commitment of industry associations and various financial institutions is to be welcomed. Promising projects have been launched in areas such as retirement provision, portfolio management, payment transactions and multibanking. However, more concrete progress and greater commitment are needed with regard to the opening up of data interfaces.
The Federal Council welcomes the targets that the FDF has drawn up. They serve as a guideline for the work to be done and are intended to strengthen the digital self-determination of clients and to promote innovation and competition in the Swiss financial centre. The Federal Council remains confident that a market-based approach can work. It has instructed the FDF to submit measures to it by June 2024 in the event that the financial sector does not sufficiently commit to opening up its interfaces. In addition, the Federal Department of Home Affairs (FDHA) is to examine how digital access to retirement provision data can be appropriately promoted.
]]></description><link>https://fintechnews.eu/swiss-government-plans-to-promote-open-finance-in-2024</link><guid>3018</guid><author>Administrator</author><dc:content /><dc:text>Swiss Government Plans to Promote Open Finance in 2024</dc:text></item><item><title>Neue Strategie für die Digitale Schweiz</title><description><![CDATA[Der Bundesrat hat am 16. Dezember 2022 die neue Strategie Digitale Schweiz genehmigt. Die Strategie wurde vereinfacht und sieht neu jährlich wechselnde Fokusthemen vor, die vom Bundesrat bestimmt werden.
Die Fokusthemen adressieren Themen, in denen der Bundesrat eine besondere Priorität für die digitale Schweiz sieht. Für das nächste Jahr 2023 sind die Fokusthemen: digitalisierungsfreundliches Recht, Digitalisierung im Gesundheitsbereich und digitale Souveränität.
Die Strategie Digitale Schweiz definiert seit 2018 Leitlinien für das Handeln des Staates im Bereich der digitalen Transformation. Die Strategie ist für die Bundesverwaltung verbindlich. Für die übrigen Akteure der Kantone, Gemeinden, Wirtschaft, Wissenschaft und Zivilgesellschaft dient sie als Orientierung mit dem Ziel, den digitalen Wandel bestmöglich zu nutzen.

Die aktualisierte Strategie hat zwei wesentliche Funktionen: Zum einen soll anhand von fünf Wirkungsbereichen (Bildung und Kompetenzen, Sicherheit und Vertrauen, Rahmenbedingungen, Infrastruktur, digitale Behördenleistungen) eine strukturierte Übersicht geschaffen werden über den Stand der staatlichen Tätigkeiten. Zum anderen sollen gezielt Schwerpunkte gesetzt werden. Die Strategie Digitale Schweiz beinhaltet darum neu zwei bis drei Fokusthemen. Diese werden jährlich vom Bundesrat festgelegt.
Fokusthemen als Kernelement
Für das kommende Jahr hat der Bundesrat erstmals Fokusthemen definiert. Mit diesem neuen Instrument bekommen Themen von hoher Wichtigkeit und Dringlichkeit – und manchmal von hohem Nachholbedarf – zusätzliche Aufmerksamkeit. Auf die Fokusthemen konzentriert die Bundesverwaltung ihre Arbeiten im jeweiligen Jahr und lanciert konkrete Massnahmen. Die Fokusthemen für 2023 sind:

Digitalisierungsfreundliches Recht
Digitalisierung im Gesundheitsbereich
Digitale Souveränität

Zu jedem Fokusthema organisiert der Bereich Digitale Transformation und IKT-Lenkung (DTI) der Bundeskanzlei ein Beiratstreffen Digitale Schweiz, jeweils unter Vorsitz des Bundesrats oder der Bundesrätin des federführenden Departementes.
Gemeinsame Weiterentwicklung der Strategie
Der Bereich DTI der Bundeskanzlei koordiniert die Erarbeitung und die Umsetzung der Strategie in Zusammenarbeit mit Kantonen, Organisationen und Unternehmen. Die Grundlagen der neuen Strategie wurden gemeinsam mit Vertreterinnen und Vertretern aus Wissenschaft, Wirtschaft, Verwaltung, Politik und Zivilgesellschaft erarbeitet. Dies geschah in Workshops und in Gremien wie dem Beirat Digitale Schweiz. Die Organisation Digitale Verwaltung Schweiz begleitete die Arbeiten ebenfalls eng, um das Zusammenspiel zwischen Bund, Kantonen und Gemeinden sicherzustellen.
Aktionsplan wird laufend aktualisiert
Der Aktionsplan der bisherigen Strategie Digitale Schweiz soll weitergeführt werden. Er beinhaltet alle laufenden Aktivitäten zur Umsetzung der Strategie und wird laufend aktualisiert. Die Federführung für die Umsetzung der Massnahmen liegt weiterhin bei der jeweiligen Verwaltungseinheit, die auch für die Finanzierung zuständig ist. Neu erfolgt eine jährliche Berichterstattung über den Stand der Strategieumsetzung zuhanden des Bundesrats in Form eines Monitoringberichts.
]]></description><link>https://fintechnews.eu/neue-strategie-fur-die-digitale-schweiz</link><guid>3017</guid><author>Administrator</author><dc:content /><dc:text>Neue Strategie für die Digitale Schweiz</dc:text></item><item><title>bob Finance Migrates Its Lending Portfolio to Mambu</title><description><![CDATA[Zurich-based digital financial services provider bob Finance announced that it has successfully migrated its full lending portfolio to Mambu’s cloud-native banking platform.
This migration included a move to a locally-based Google Cloud as bob Finance is looking to establish itself in the Swiss lending market.
With its offerings on Mambu’s platform, bob Finance said that it will continue building products and developing new opportunities in the region.

bob Finance, a subsidiary of Valora Schweiz which is a Swiss retail and food service holding company, provides digital financing solutions for both individual and business customers.
The firm originally leveraged Mambu to launch its ‘buy now, pay later’ offering for retailers called ‘bob Zero’ in 2020.
Hilmar Scheel
Hilmar Scheel, CEO at bob Finance said,
“We teamed up with Mambu two years ago because we were looking for a flexible, cloud-native platform with core product capabilities that would support our mission to become a reliable and versatile partner for financial services.

Since then, we’ve reduced maintenance effort and information security risks through an up-to-date platform and technology stack compared to one that is individually hosted.”
Scott Wilson
Scott Wilson, Regional VP EMEA at Mambu said,
“bob Finance is developing innovative, customer-first lending experiences for the Swiss market. Building on the success of our original partnership, they saw the opportunity to both migrate its offerings onto Mambu and a locally-based cloud.

The versatility and power of the Mambu platform combined with our multi-cloud approach meant bob Finance could change cloud providers easily and with zero down time, all in a matter of six months.”

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/bob-finance-migrates-its-lending-portfolio-to-mambu</link><guid>3015</guid><author>Administrator</author><dc:content /><dc:text>bob Finance Migrates Its Lending Portfolio to Mambu</dc:text></item><item><title>UBS Issues USD 50 Million Tokenized Debt Securities for Asia Pacific</title><description><![CDATA[UBS has closed the first tokenized debt transaction for Asia Pacific investors, underlining its commitment to expand regional investment opportunities.
UBS AG London branch issued USD 50 million in digital fixed rate security tokens (‘digital securities’) using blockchain technology to a series of high net worth and global family and institutional wealth investors across Hong Kong and Singapore. The US dollar-denominated instruments carry a tenor of 6 months and are tokenized on a permissioned blockchain.
The private placement marks the first time that uncertificated securities on a blockchain have been constituted under English and Swiss law, and tokenized on a permissioned Ethereum-based blockchain. They are among the first ever global blockchain-based transactions involving multiple jurisdictions. UBS designed the transaction to satisfy a rising demand among Asian investors for fixed income investments that can be transacted using blockchain, a new disruptive technology that can make issuing securities more efficient, while enabling new product innovations.

August Hatecke
“This transaction is the first step in an exciting journey in offering blockchain-based products to regional investors, and it underlines UBS’s ability to expand digital investment opportunities for our clients”
said August Hatecke, Co-Head UBS Global Wealth Management APAC.
Amy Lo
“We registered strong interest for this inaugural issue from regional high net worth individuals and family offices, which underscores their interest in digital securities”
added Amy Lo, Co-Head UBS Global Wealth Management APAC.
UBS Group intends to explore further transactions including for third-party issuers. This will maintain a growing pipeline of digital security deal flow from the financial institution. In November 2022, UBS Group priced its inaugural senior unsecured digital bond, which comprised CHF 375 million in three-year digital bonds.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/ubs-issues-usd-50-million-tokenized-debt-securities-for-asia-pacific</link><guid>3014</guid><author>Administrator</author><dc:content /><dc:text>UBS Issues USD 50 Million Tokenized Debt Securities for Asia Pacific</dc:text></item><item><title>Governments, International Bodies Ramp up Crypto Tax Regulations</title><description><![CDATA[Over the past year, governments and regulatory bodies from around the world have increased their focus on the taxation of the cryptocurrency industry, a trend that comes on the back of increasing investment, adoption and innovation in the space despite collapsing prices and high profile business failures, a new report by consulting firm PwC says.
PwC’s 2022 Global Crypto Tax Report, released earlier this month, looks at the state of crypto taxation globally, exploring emerging trends and key developments that have occurred over the past year.
According to the report, 2022 has been marked by increasing tax regulation targeting the crypto sector, a trend that was prompted by major steps being taken by governments and international bodies like the Organisation for Economic Cooperation and Development (OECD), the European Union (EU) and the US.

In October, the OECD, an intergovernmental organization comprising 38 member countries that focuses on stimulating economic progress and world trade, released its tax reporting framework. Dubbed the Crypto-Asset Report Framework (CARF), the guidance sets forth a global tax transparency framework for the automatic reporting and exchange of taxpayer information between countries relating to financial accounts and crypto-assets.
In the EU, a new law was proposed earlier this month that requires crypto providers to report details of their EU clients’ transactions to national tax authorities within the bloc. The proposed new tax rules, known as the eighth Directive on Administrative Cooperation (DAC8), seeks to halt billions of euros in evasion by taxpayers storing their crypto abroad.
Like the OECD’s CARF, the DAC8 proposal also contains provisions on reporting and exchange of information on crypto-assets for direct tax purposes.
In the US, the bipartisan Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021, setting aside over US$1.2 trillion to upgrade the country’s infrastructure over the next decade. Included in the package are new authorities for the US Internal Revenue Service (IRS) and Treasury Department, giving them the power to establish tax reporting rules for cryptocurrency transactions starting in 2023.
Focus on NFTs and DeFi
In addition to increasing tax regulation on crypto trading gains, tax administrators have also started looking at non-fungible tokens (NFTs) and decentralized finance (DeFi) applications
Earlier this year, the US IRS adjusted its annual tax instructions to account for NFTs, replacing the term “virtual currency” with “digital assets,” which encompass NFTs.
In India, the government introduced in the Union Budget 2022 regulations to tax incomes from virtual digital assets, including crypto and NFTs. The amended law includes the definition of crypto assets, NFTs and other similar tokens. It also notifies that any income from the sale or transfer of crypto assets or NFTs shall be taxed at 30%.
Meanwhile, in the DeFi industry, early guidance around taxation remains limited, though some jurisdictions have started looking into the topic.
The UK government, for example, announced in April a package of measures focused on crypto-assets. The measures include an intention to consider and address concerns about the tax treatment of DeFi loans and staking.
In Switzerland, the Swiss Federal Tax Administration and the Association of Swiss Tax Administrations published in December 2021 their updated workpapers and guidelines on the taxation of crypto and blockchain projects, providing greater clarity on how investment tokens, staking/airdrops, and employee participations are to be taxed.
According to Swiss law firm Bär &amp; Karrer, though no specific guidelines relating to NFTs have been published, some of the key Swiss tax principles are applicable to NFTs.
In Switzerland, capital gains on the sale of private assets are in principle tax-free, while capital gains on the sale of business assets, including those that serve a self-employed activity, are subject to income tax.
For private crypto investors, capital gains are exempted from taxation if the assets are held for at least six months and if it doesn’t involve debt instruments, explained experts from Deloitte Switzerland. Trading turnover must not exceed five times the holding at the beginning of the tax period and capital gains should be smaller than 50% of the total income in the respective tax period. Additionally, derivatives must solely be used for hedging.
According to a 2022 research by crypto exchange company Crypto.com, the global crypto population increased by 178% in 2021 with users totaling nearly 300 million. Booming adoption of crypto came on the back of heavyweight institutions, including Mastercard and Visa, taking steps to embrace crypto during 2021.

Global crypto adoption, Source: Crypto.com Research 2022

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/governments-international-bodies-ramp-up-crypto-tax-regulations</link><guid>3013</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/Global-crypto-adoption-Source-Crypto.com-Research-2022.png?x30842</dc:content ><dc:text>Governments, International Bodies Ramp up Crypto Tax Regulations</dc:text></item><item><title>New Swiss Fintech Startup Design for 2023</title><description><![CDATA[Together with their partners Lucerne University of Applied Sciences and Arts, Swisscom and Clarafinds, eForesight has revised the Swiss Fintech Map and expanded the database as well as deleted some old and inactive players.
The main categories contain now 130 Swiss Investment Management Fintechs, 106 Banking Infrastructure Fintechs, 48 Deposit&amp;Lending Fintechs and 55 Payment Fintechs. On top of that somehow at the end 84 Big Data, 135 Process Digitization and 102 DLD Blockchain Fintechs are mentioned.
This means for 2023 the new count starts now with 339 Swiss Fintechs on the main map.


Check out the new Swiss Fintech map below or the digital version on fintechmap.ch.


]]></description><link>https://fintechnews.eu/new-swiss-fintech-startup-design-for-2023</link><guid>3012</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>New Swiss Fintech Startup Design for 2023</dc:text></item><item><title>New Swiss Fintech Startup Map Design for 2023</title><description><![CDATA[Together with their partners Lucerne University of Applied Sciences and Arts, Swisscom and Clarafinds, eForesight has revised the Swiss Fintech Map and expanded the database as well as deleted some old and inactive players.
The main business area categories contain now 130 Swiss Investment Management Fintechs, 106 Banking Infrastructure Fintechs, 48 Deposit&amp;Lending Fintechs and 55 Payment Fintechs. On top of that, the fintechs in the main categories on the map were sorted into technology clusters such as Big Data (84), Process Digitization (135) and DLD Blockchain (102).
The map was also cleaned up, which means inactive Swiss Fintechs were deleted from the map. This means for 2023 the new count starts now with 339 Swiss Fintechs, about 32 Fintechs less than the previous months.



Check out the new Swiss Fintech map below or the digital version on fintechmap.ch.

New Designed Swiss Fintech Map December 2022

]]></description><link>https://fintechnews.eu/new-swiss-fintech-startup-map-design-for-2023</link><guid>3016</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/swiss-fintech-map-new-design-1024x643.png?x30842</dc:content ><dc:text>New Swiss Fintech Startup Map Design for 2023</dc:text></item><item><title>Mobil, Online, Krypto: Wie digital die Schweiz 2022 bezahlt</title><description><![CDATA[Die Schweizer:innen vertrauen immer stärker auf den Einsatz digitaler Bezahlmöglichkeiten. Das zeigen die Ergebnisse der zweiten Auflage des Visa Payment Monitor in der Schweiz.
Laut der repräsentativen Umfrage unter 1’000 Menschen in der Schweiz ist eine gegenüber 2021 wachsende Mehrheit der Schweizer:innen (77 %) zweieinhalb Jahre nach Beginn der Pandemie davon überzeugt, dass die veränderten Bezahlgewohnheiten keine vorübergehende Erscheinung sind, sondern sich auch in Zukunft durchsetzen werden. Jeder zweite Schweizer  geht inzwischen davon aus, dass es in fünf Jahren alltäglich sein wird, gar nicht mehr mit Bargeld zu bezahlen (50 %), drei von zehn meiden gar bereits heute Geschäfte, wenn dort nicht bargeldlos bezahlt werden kann (30 %).
Was zählt sind Schnelligkeit und Sicherheit
Konsument:innen sind beim Bezahlen unverändert Schnelligkeit, ein guter Überblick über die Ausgaben und die Unabhängigkeit vom Bargeldautomaten wichtig. Für zwei von drei Schweizer:innen ist es entscheidend, dass die Bezahlung schnell geht (64 %) – mit steigender Tendenz und von der Deutschschweiz bis in die Romandie. Gleichzeitig steigt durch die intensive Nutzung in den vergangenen Jahren das Vertrauen in das digitale Bezahlen: Beim Kauf im Internet sorgen sich 13 Prozent sehr vor einem Datenabgriff, ein Rückgang um sechs Prozentpunkte in nur einem Jahr. Im stationären Handel machen sich in diesem Jahr nur noch neun Prozent grosse Sorgen über Datenabgriffe. Besonders grossen Wert legen Konsument:innen beim bargeldlosen Bezahlen auf Sicherheit. An Kartenzahlungen schätzen 91 Prozent der Schweizer:innen am meisten, dass sie bei nicht autorisierten Zahlungen ihr Geld zurückerhalten.

Santosh Ritter
«Die Innovationen, die der Schweizer Bezahlmarkt fortlaufend hervorbringt, werden von den Menschen genutzt und geschätzt»,
sagt Santosh Ritter, Country Manager bei Visa für die Schweiz und Liechtenstein, mit Blick auf den Visa Payment Monitor 2022.
«Mehr als zweieinhalb Jahre nach Beginn der Pandemie zeigt sich, dass der Trend zum beschleunigten digitalen Bezahlen keine Eintagsfliege war. Konsumentinnen und Konsumenten legen weiter besonderen Wert auf schnelle, sichere und zuverlässige Bezahlmöglichkeiten jenseits des Bargelds und auch über die klassische Plastikkarte hinaus.»
Mobiles Bezahlen legt zu

Das kontaktlose Bezahlen hat sich in der Schweiz fest etabliert. Inzwischen bezahlen 90 Prozent der Schweizer:innen auf diese Weise. Das Wachstum gegenüber 2021 fällt nur noch gering aus und ist in der französischsprachigen Schweiz am stärksten ausgeprägt. Beim mobilen Bezahlen im stationären Handel ist der Zuwachs deutlicher: Gesamtschweizerisch stieg der Anteil der Personen, die in Geschäften durch Auflegen des Smartphones oder Wearables bezahlten, auf 28 Prozent (+3 Prozentpunkte). Am normalsten ist es für die Generation Y und Z: 44 Prozent der unter 35-Jährigen nutzen bereit das Mobilgerät zum Bezahlen an der Ladenkasse. Dabei stieg bei Personen, die mobil bezahlen, auch die Nutzungshäufigkeit im Vergleich zum Vorjahr. Bereits jede:r Zweite verwendet mehrmals pro Woche das Mobilgerät an der Kasse (+ 9 Prozentpunkte) und auch die Weiterempfehlungsrate nimmt weiter zu: Fast 9 von 10 Mobilzahler:innen würden Mobile Payment ihren Freunden empfehlen (87 %).
In der Deutschschweiz überholt das Smartphone das Portemonnaie
Das Smartphone gewinnt gegenüber dem Portemonnaie insgesamt weiter an Relevanz: Müssten sie zwischen den beiden auswählen, entscheiden sich in der Deutschschweiz inzwischen mehr Menschen für das Handy (51 %, entspricht +7 Prozentpunkten) als für das Portemonnaie (47 %). In der Romandie ist es umgekehrt: Hier schlägt das Portemonnaie (52 %) noch das Mobilgerät (41 %).

Vertrauen in Online-Zahlungen steigt
Noch stärker als im physischen Handel ist die Nutzungsintensität von Mobilgeräten im Online-Handel. Mittlerweile haben zwei Drittel der Konsument:innen (65 %) schon einmal Waren oder Dienstleistungen mobil mit Smartphone und Co. im Internet gekauft. Das entspricht gesamtschweizerisch einem Wachstum von sieben Prozent. Die Deutschschweiz hat diesbezüglich wie im Vorjahr die Nase vorn: 66 Prozent shoppen mobil im Internet (+ 6 Prozentpunkte).
Durch die intensive Nutzung von Onlinekanälen im Zuge der Pandemie hat sich der Ruf des Kaufs im Internet verbessert: 22 Prozent geben an, dass sie Onlinezahlungen heute positiver sehen als vor Beginn der Covid-19-Pandemie und 32 Prozent kaufen häufiger online ein. Mittlerweile kauft generell fast jede:r (97 %) zumindest ab und zu online ein – mehr als sechs von zehn regelmässig.
Krypto: Schweizer:innen im DACH-Vergleich die klare Nummer eins

Gemäss des Visa Payment Monitors 2022 besitzen fast ein Viertel der Schweizer:innen (23 %) Kryptowährungen. Bei den unter 35-Jährigen ist es sogar schon fast jede:r Zweite (44 %). Für viele der Kryptobesitzer:innen sind die digitalen Währungen nicht nur eine Geldanlage: Mehr als ein Drittel (38 %) hat sie schon einmal zum Bezahlen eingesetzt und jede:r Vierte geht gar davon aus, dass es in fünf Jahren ganz normal sein wird, mit digitalen Währungen im Alltag zu bezahlen.
Auffällig ist, dass Krypto besonders bei Männern beliebt ist – statistisch besitzen Männer fast dreimal so häufig digitale Währungen wie Frauen (32 % vs. 13 %). Gegenüber den Konsument:innen in Deutschland und Österreich liegen jedoch sowohl Frauen und Männer deutlich vorn. In Deutschland besitzen gerade einmal sieben Prozent der Menschen Krypto-Assets und von ihnen haben auch erst 14 Prozent damit bezahlt. In Österreich besitzen 14 Prozent der Menschen Kryptowährungen und von ihnen haben schon 37 Prozent damit bezahlt.
]]></description><link>https://fintechnews.eu/mobil-online-krypto-wie-digital-die-schweiz-2022-bezahlt</link><guid>3011</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/Infografik_digital-938x1024.png?x30842</dc:content ><dc:text>Mobil, Online, Krypto: Wie digital die Schweiz 2022 bezahlt</dc:text></item><item><title>8 Fast-Growing Supply Chain Fintech Companies from Europe</title><description><![CDATA[Cutting edge technologies including artificial intelligence (AI), analytics and distributed ledger technology (DLT) are changing the way companies and their suppliers do business. These technologies are revolutionizing the supply chain industry by introducing digital solutions that improve processes, enhance efficiencies and increase transparency.
In Europe, a plethora of tech startups have emerged over the past couple of years to resolve the financing difficulties of micro, small and medium-sized enterprises (MSMEs), help achieve digitalization of the industry, and support the growth of the real economy.
To get a sense of the region’s fast evolving supply chain fintech industry, we’ve made a selection of Europe’s most innovative and fastest-growing startups disrupting the space. These eight companies are leveraging technology to bring transparency to global trade, provide short-term financing solutions and facilitate business-to-business (B2B) commerce. They’ve made notable strides over the past year and are poised for further growth moving forward.

Marco Polo

Founded in 2017 and based in London, Marco Polo is a trade finance initiative led by TradeIX and R3.
The platform, which makes use of distributed ledger technology (DLT), aims to improve the trade ecosystem and its participants through providing secure, distributed data storage and bookkeeping, automated contract enforcement, identity management, asset verification and tracking. It is designed to be a truly open network that allows interoperability for applications and legacy systems at banks and corporates involved in international trade transactions.
Companies part of the Marco Polo network include Bank of America, BNY Mellon, BNP Paribas, Accenture, Google, IBM and Microsoft. According to Dealroom data, Marco Polo has secured US$16 million in funding so far.
Komgo

Founded in 2018 and headquartered in Geneva, Komgo is a blockchain software development and technology services company solving problems for the trade finance industry. The company builds digital solutions designed to transform internal workflows and the relationships between importers, exporters, banks, and all industry stakeholders.
Komgo is owned by the industry’s leading banks and corporates, including ABN-AMRO, Credit Agricole, Citi, Gunvor, ING and Societe Generale. It has offices in Seoul, Singapore, Geneva, London, New York, and Houston.
Earlier this month, Komgo acquired GlobalTrade Corporation (GTC), a Canadian multi-bank trade finance solutions provider. Jointly Komgo and GTC provide trade finance digitalization solutions to over 120 multinational clients and their 11,000+ subsidiaries.
According to Dealroom data, Komgo has secured US$29 million in funding so far.
FQX

Founded in 2019 and headquartered in Zurich, FQX is a blockchain startup. FQX’s primary offering is the eNote, an unconditional promise to pay a specific sum to another party at a specific future date.
The eNote is based on blockchain technology, can be modularly structured to fit any financing purpose, and can be easily transferred to any third party. Businesses can sell their eNotes in a practice similar to invoice factoring to get cash before the settlement dates as means to improve cash flow. eNotes can also be used by companies to obtain short-term financing from banks or other corporations.
eNotes are issued and traded in real-time on a blockchain-based infrastructure, enabling improved liquidity and risk protection for both trading partners.
FQX inked a deal with Switzerland’s SIX Digital Exchange (SDX) in February 2022 to use the startup’s blockchain-based short-term debt instruments on SDX. FQX secured US$4.7 million in a seed funding led by SIX Fintech Ventures, the non-strategic corporate venture arm of SIX, and unicorn startup founder Carsten Thoma.
Previse

Founded in 2016 and headquartered in London, Previse is a global financial services and technology company specializing in business-to-business (B2B) commerce. The company has built the infrastructure to connect the millions of suppliers on existing B2B networks with billions of dollars of finance in ways that are otherwise not possible. The company’s core capability is to process corporate and small and medium-sized enterprise (SME) trading data globally and use artificial intelligence (AI) to predict future revenues and price the risk accurately.
Previse claims it carries out over US$24 trillion of trade each year between 20 million SMEs and 5,000 corporate buyers globally.
In May, Previse closed the first phase of its Series B financing, securing US$18 million to expand the availability of its data-driven working capital finance solutions designed for SMEs.
EcoVadis

Founded in 2017 and headquartered in Paris, EcoVadis is a provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains.
EcoVadis’ easy-to-use and actionable sustainability scorecards and carbon action tools provide detailed insights into environmental, social and ethical risks across 200+ purchasing categories and 175+ countries, enabling businesses of all sizes to monitor and improve the sustainability performance of their business and trading partners.
Industry leaders such as Amazon, Johnson &amp; Johnson, L’Oréal, Unilever, LVMH, Salesforce, Bridgestone, BASF and JPMorgan are among the 100,000 businesses that collaborate with EcoVadis.
EcoVadis is one of the most well-funded climate fintech startups in Europe, having secured a total of US$725 million in funding. In June, it closed a US$500 million Series C, which was extended in November with an undisclosed secondary transaction. The startup said it would use the proceeds to continue its investments in internal and acquired innovation, expand its global scale-up, and deepen the user engagement and impact of its solutions. EcoVadis is part of the unicorn club.
Traxpay

Founded in 2009 and headquartered in Frankfurt, Traxpay is a fast-growing supply chain finance platform that operates globally from Europe with a multi-bank approach. Traxpay aims to become the “360° supply chain finance platform of choice” for buyers, suppliers and banks, enabling companies to manage their working capital in a simple, secure and sustainable way.
Traxpay offers all stakeholders a set of tools for generating and securing liquidity along the entire value chain. Established financial institutions including Deutsche Bank, DZ Bank, Nord/LB, LBBW and KfW IPEXBank utilize Traxpay’s financing solution and maintain strategic partnerships with the company.
Traxpay has secured a total of US$18 million in funding so far, according to Dealroom data. Backers include Deutsche Bank, Commerzbank, and Earlybird Venture Capital.
Finverity

Founded in 2017 and headquartered in London, Finverity operates an award-winning supply chain finance technology platform that caters to the entire ecosystem of trade finance participants.
Finverity’s platform is made available via three routes: a digital marketplace that directly matches bank and non-bank funders with pre-qualified mid-market companies seeking supply chain and receivables finance; a highly customizable, white-label software for banks and non-bank funders looking to increase their supply chain and receivables finance operations; and a servicing offering enabling funders to onboard, distribute and manage their own transactions and co-fund new transactions using Finverity’s open platform.
Finverity secured in February 2022 a US$2 milloin Pre-Series A equity funding round, which the company said it would use to expand its sales, operations and technology teams to support its rapid growth. The company is also planning to open three new offices across the Middle East and North Africa (MENA) and Europe.
Centrifuge

Headquartered in Zug and founded in 2017, Centrifuge is an open, decentralized operating system that aims to connect the global financial supply chain. The system allows participants to transact on a global network while maintaining ownership of their data, including their validated company details, their reputation, business relationships, and subsequent transactions.
The decentralized finance (DeFi) lending protocol seeks to make credit more accessible to small businesses by allowing them to borrow money against real-world assets (RWAs), while also providing a stable yield for investors by opening pooled liquidity to the world of traditional finance. Centrifuge’s associated decentralized application (DApp), Tinlake, is a marketplace for tokenized RWAs.
Centrifuge has already financed over US$134 million in RWAs such as financing over US$4.5 million trade receivables of Harbor Trade. In November, the startup closed a US$4 million funding round, bringing its total raised to US$15.8 million, according to Dealroom data.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/8-fast-growing-supply-chain-fintech-companies-from-europe</link><guid>3010</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/Marco-Polo-300x131.png?x30842</dc:content ><dc:text>8 Fast-Growing Supply Chain Fintech Companies from Europe</dc:text></item><item><title>Accounto’s Board of Directors Are Expanding</title><description><![CDATA[The team at Accounto, the Switzerland based fiduciary software specialist, is gaining an experienced industry expert.
Thomas Koller, former long-standing Chairman of the Board of Directors of OBT AG and General Manager of the Fiduciary &amp; Business Consulting Division at ExpertSuisse, is the latest addition to the Board of Directors.
In order to further strengthen the strategic, industry-oriented development of Accounto, the Board of Directors has recommended the election of Thomas Koller to the Board of Directors at the Annual General Meeting. “With Thomas Koller, we are gaining a proven expert in the fiduciary industry for our mission. He complements our Board of Directors and the collaboration has already commenced,” says Alain Veuve, founder and Chairman of the Board of Directors of Accounto.

Thomas Koller
“I am very pleased to be elected to the Board of Directors and am convinced that Accounto will soon be established in the market as an ideal addition to the long-established fiduciary products,”
says Thomas Koller.
In addition to his many years as Chairman of the Board of Directors and overall Head of the Fiduciary &amp; Management Consulting Division at OBT AG, Thomas Koller is President of the Fiduciary &amp; Management Consulting Division at ExpertSuisse. He is also a member of various committees that deal with the digitalisation of the fiduciary industry. In mid-2022, he also founded his own consultancy, KollerNext AG.
The Board of Directors of Accounto AG is now composed as follows:
Alain Veuve (Chairman and Founder), Dominique Kaspar (Vice Chairman), Michael Manz, Alessandro Micera and Thomas Koller.
]]></description><link>https://fintechnews.eu/accountos-board-of-directors-are-expanding</link><guid>3009</guid><author>Administrator</author><dc:content /><dc:text>Accounto’s Board of Directors Are Expanding</dc:text></item><item><title>G+D Doubles Its Stake in Netcetera to 60%</title><description><![CDATA[Munich-based security technology group Giesecke+Devrient (G+D) is further expanding its stake in Swiss digital payments company Netcetera from 30 to 60 percent.
Netcetera will still remain as an independent company following the share transfer that is planned for February 2023.
Together with the Netcetera’s Board of Directors, CEO and Co-founder Andrej Vckovski has decided to step down from the company’s operational management at the end of January 2023.


Vckovski will continue to play a key role in future developments as Vice Chairman of the Board of Directors.
He will be succeeded by Carsten Wengel as the new CEO of Netcetera from 1 February 2023 onwards. Wengel heads up global sales and distribution for the digital and card-based payments business at G+D.
Both Wengel and the newly appointed CFO Nanette Haubensak complement the existing management team as they pursue Netcetera’s expansion strategy.
Ralf Wintergerst
“With its focus on software solutions that are essential to the success of customers and their business processes, Netcetera complements and strengthens Giesecke+Devrient’s digital portfolio.

Expanding our partnership is the next logical step and confirms our mutual trust. Together, we are laying the foundation for further joint growth.”
said Ralf Wintergerst, CEO of G+D and Chairman of the Board of Netcetera.
Andrej Vckovski
“As the market leader, Netcetera is excellently positioned, and I am pleased that our company is continuing to pursue its expansion strategy together with G+D.

In the past two years, we have strengthened our innovative power and developed further international growth potential,”
said Andrej Vckovski, CEO and Co-founder of Netcetera.
]]></description><link>https://fintechnews.eu/gd-doubles-its-stake-in-netcetera-to-60</link><guid>3008</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>G+D Doubles Its Stake in Netcetera to 60%</dc:text></item><item><title>Dataiku Now Valued at US$3.7 Billion With US$200 Million Fundraise</title><description><![CDATA[Dataiku, an AI and analytics platform, announced that it has raised US$200 million in Series F funding round led by new investor Wellington Management.
This brings Dataiku’s total funds raised since its inception to approximately US$600 million with a valuation of US$3.7 billion.
Dataiku said that it plans to use the funds to prepare for its next phase of growth.


In 2022, Dataiku reported that it grew its customer base above 500 and surpassed US$150 million in annual recurring revenue.
Matt Witheiler
“Dataiku’s proven track record, management team, growth trajectory, and customer roster, positions the company to scale AI to new heights. We are pleased to partner and contribute to their impressive journey.

Dataiku has taken a leadership position helping enterprises put massive datasets to work at unprecedented speed and creating a culture of AI focused on delivering compounding business results.”
said Matt Witheiler, Consumer/Technology Sector Lead, Wellington Management.
“Our ability to attract new, market leading investors, like Wellington, in this challenging environment underscores the strength of our solutions, our world-class team, and the tremendous opportunities ahead.

We are on the cusp of a massive market transformation with AI at the heart of it—and we are ready to meet the moment.”
said Florian Douetteau, Co-founder and CEO of Dataiku.

This article first appeared on Fintech News America. 

]]></description><link>https://fintechnews.eu/dataiku-now-valued-at-us37-billion-with-us200-million-fundraise</link><guid>3007</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>Dataiku Now Valued at US$3.7 Billion With US$200 Million Fundraise</dc:text></item><item><title>IFZ Insurtech Study: European Insurtech Industry Increased 20% This Year</title><description><![CDATA[Over the past year, Europe’s insurtech industry has seen the addition of more than 100 companies, bringing the total number of insurtech firms in the continent to 598, a new report by the Swiss Institute of Financial Services Zug IFZ shows. The figure represents a 20% increase from last year’s reported 497 insurtech companies and showcases the industry’s dynamism despite a trying funding environment.
The IFZ Insurtech Report 2022, released on December 02, 2022, gives an overview of the European insurtech industry, delving into emerging trends observed over the past year both in the continent and in Switzerland specifically.
This year again, the UK, Germany and France maintained their leading positions in Europe’s insurtech scene, hosting the region’s largest insurtech ecosystems and a combined 57% of all companies in Europe (343 companies).


With 168 companies, the UK makes up for 28% of all European insurtech companies, followed by Germany with 103 (17%) and France with 72 (12%). Switzerland remained at the fourth position in 2022 with a reported 58 firms, up eight companies from last year’s 50.
Number of European insurtechs by country of headquarters and value chain (left graph), Source: IFZ Insurtech Report 2022
The growth of Europe’s insurtech industry comes despite a global startup funding contraction that’s taken a toll on several players and forced many to cut jobs. US-headquartered Next Insurance, an unicorn startup worth US$4 billion, laid off 150 employees in July, citing a “worsening macroeconomic environment.” That same month, Zego, a commercial motor insurance provider from the UK valued at US$1.1 billion, made 17% of its staff redundant after facing increased costs.
According to CB Insights’ State of Insurtech Q3 2022 report, European insurtech companies secured a total of US$1.77 billion in the first three quarters of 2022, a 33.87% decline compared to the same period last year during which US$2.76 billion were raised.
Europe insurtech quarterly funding, Source: State of Insurtech Q3 2022, CB Insights
Looking at European trends, the report notes that the region’s insurtech industry is heavily concentrated around the value chain categories of Infrastructure (260 companies) and Marketing and Distribution (158 companies), which account for a combined 70% of all European insurtech companies.
Concentration is also high in terms of the technologies employed, with Digitalization/Automatization/Robotics (373 companies) and Analytics/Artificial Intelligence (AI) (188 companies) accounting for 94% of all European insurtech companies.
Number of European insurtechs by country of headquarters and technology area, Source: IFZ Insurtech Report 2022
Similar to regional trends, Switzerland’s insurtech is also heavily centered around Marketing and Distribution with 21 companies (36% of all Swiss insurtech companies), followed by Infrastructure solutions with 18 companies (31%). 33 Swiss insurtech companies indicated primarily using Process Digitalization/Automation/Robotics, making it the most prevalent technology (57%), followed by Analytics/AI with 18 companies (31%).
Number of Swiss insurtech companies by canton and value chain (left graph) and by canton and technology area (right graph), Source: IFZ Insurtech Report 2022
Like last year, findings from the 2022 IFZ research show that most Swiss insurtech companies are pursuing an international strategy, with 69% of the 58 Swiss insurtech companies indicating targeting customers in different countries, a proportion that’s 11 point higher than the regional average of 58%.
Findings from IFZ are consistent with those observed by other industry stakeholders. Data from by the Insurtech Map show that Germany, Austria, Switzerland and Liechtenstein, also referred to as the DACH region, have seen their insurtech sector increase by 45% over the past year, rising from 141 players in March 2021 to now 202.
A recent report by consulting firm PwC notes that Switzerland’s incumbent insurers have played an active role in fostering innovation in the sector.
Baloise, for example, is engaged with insurtech centers on four areas, namely home, mobility, financial wellness and business services. The firm has also made direct investments into companies like Omni:us, a Berlin-based startup specializing in services that use AI to extract relevant data points from heterogeneous document streams; Trov, a Californian insurtech company that offers on-demand single-item insurance; and Stable, a London-based startup that has created an index insurance product for food and farming businesses around the world that automatically reimburses lost income caused by volatile prices.
Swiss Life has set up an incubator and corporate venture capital fund, the report says. It also uses equity interests and collaborates with startups to access insurtech capabilities to complement its internal digitalization efforts. An example is Swiss Life’s 2021 partnership with Appian to create an end-to-end AI solution for underwriting.
And Vaudoise has embraced a digital strategy focused on establishing partnerships with startups and integrating its digital solutions into ecosystems of third parties, it notes. Initiatives include investing in a fund giving access to fintech, insurtech and regtech startups, and participating in joint ventures, equity investments and non-equity collaborations.

Featured image credit: Edited from freepik here and here
]]></description><link>https://fintechnews.eu/ifz-insurtech-study-european-insurtech-industry-increased-20-this-year</link><guid>3006</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>IFZ Insurtech Study: European Insurtech Industry Increased 20% This Year</dc:text></item><item><title>Thoma Bravo Inks Deal to Acquire Coupa for US$8 Billion</title><description><![CDATA[Software investment firm Thoma Bravo announced that it will be acquiring Coupa Software, a specialist in in business spend management, for US$8.0 billion in an all-cash transaction.
The transaction, which was approved unanimously by the Coupa Board of Directors, is expected to close in the first half of 2023, and is subject to customary closing conditions.
Upon completion of the transaction, Coupa will become a privately held company and will continue to operate under its original name and brand.


The transaction also includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Rob Bernshteyn
“For more than a decade, we’ve been building an incredible business spend management community and have proudly cemented our position as the market-leading platform in our category. We’re looking forward to partnering with Thoma Bravo and accelerating our vision to digitally transform the Office of the CFO.

While our ownership may change, our values do not. Every one of us at Coupa will continue to put our customers at the center of everything we do and help them maximize the value of every dollar they spend.”
said Rob Bernshteyn, Chairman and Chief Executive Officer at Coupa.
Holden Spaht
“Coupa has created and led the large and growing Business Spend Management category. We’ve followed the company’s success for many years and have been impressed by its consistent track record of delivering high levels of value for its global customer base.

We look forward to partnering with Rob and the rest of the management team to keep investing in the company’s product strategy while driving growth both organically and through M&amp;A.”
said Holden Spaht, a Managing Partner at Thoma Bravo.
This article first appeared on Fintech News America.

]]></description><link>https://fintechnews.eu/thoma-bravo-inks-deal-to-acquire-coupa-for-us8-billion</link><guid>3004</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>Thoma Bravo Inks Deal to Acquire Coupa for US$8 Billion</dc:text></item><item><title>Europe’s Healthtech Industry Enters New Phase of Growth</title><description><![CDATA[Europe is home to a young and dynamic healthtech industry, which, despite the global venture capital (VC) investment contraction, has managed to continue to grow, innovate and secure funding. In the year to come, the sector is expected to see accelerated developments as adoption rises and a new generation of healthtech providers emerge, a new report by Finch Capital, a growth investor focusing on finance, health and real estate technology, says.
The inaugural State of European Healthtech 2022 report, released on December 02, looks at the state of the nascent industry, delving into funding trends, merger and acquisition (M&amp;A) deals, business creation and hiring trends.
According to the report, Europe’s healthtech sector has grown significantly over the past two years amid the COVID-19 pandemic, with total capital invested having risen from US$1.7 billion in 2017 to close to US$10 billion in 2021. Although much of the funding activities have so far been centered around telemedicine, a new generation of healthtech entrepreneurs are starting to enter the sector and giving rise to technology businesses outside of the segment, the report says.


Many of Europe’s most valuable healthtech businesses were started by entrepreneurs with minimal background in health, the report notes. But many younger startups are now catching up, and these are being led by founders with sector experience at healthtech unicorns. One example shared in the report is Alan, a French healthcare app and insurance provider, and Vitaance, a Spanish company specializing in life and disability insurance for businesses.
Alan was founded in 2016 by Jean-Charles Samuelian-Werve, an entrepreneur with a background in engineering, and Charles Gorintin, a data scientist who has worked for names like Twitter, Instagram and Facebook.
The company, which claims 300,000 customers, is an insurtech unicorn valued at US$2.85 billion that provides a digital insurance service, offering simple and seamless insurance coverage with reimbursements, easy claim handling and gives users access to medical professionals, both through in-person appointments and by video calls.
Vitaance, which was founded just last year, is headed by co-founder and CEO Ana Zamora, and co-founder and CPO Bernard Granados. Prior to launching Vitaance, Zamora was the ops and insurance lead of Alan. She also served as an executive at asset management company Mercer, leading the firm’s Elect offering, a suite of benefits and insurance products for employees of small and medium-sized enterprises (SMEs). Bernard Granados, on the other hand, is an entrepreneur and business executive with experience in insurtech, marketing technology, edtech and e-commerce.
Other companies founded by Alan alumni include Fraction, Revyze and Logbook, the report notes. In total, these startups have secured a total US$5 million in funding.
Healthtech funding and hiring trends in Europe
European healthtech startups are projected to secure a total of US$5 billion this year, down 50% from 2021’s record but still up by a significant 38% from 2020 levels. Healthtech deal count, meanwhile, is expected to drop by just 18% in 2022, against 26% for fintech and 32% for transport tech, indicating that funding activity in the sector is performing better than other tech verticals.
Overall deal activity in European healthtech startups, Source: State of European Healthtech 2022, Finch Capital, Dec 2022
In 2022, telemedicine continued to be the largest healthtech segment, securing about EUR 1.5 billion in funding, as of October 30. Biotechnology/drug development took the second position, followed by hospital/clinical management and testing and diagnostics.
Despite retaining the top spot in healthtech funding, investment in telemedicine startups is starting to contract, the report notes, a retreat that’s further evidenced by a significant slowdown in hiring in the sector.
While companies in software and biotechnology/drug development have continued to actively hire this year, recording a 10% and 13% growth rate in full-time equivalent (FTE) roles over the past six months, telemedicine startups, on the other hand, have seen a 7% decrease, an indication that the segment is being affected by layoffs this year.
Full-time equivalent employee growth rates across healthtech segments in Europe, Source: State of European Healthtech 2022, Finch Capital, Dec 2022
This retreat from telemedicine has started to give rise to software, as evidenced by the momentum the segment is seeing and continued hiring trends observed among business-to-business (B2B) companies within segments including hospital/clinic management and insurtech.
Moving forward, growth in the software segment will be further driven by rising demand from insurers and other healthcare IT providers for technology solutions, Finch Capital predicts, a growth that’s expected to help the overall European healthtech funding market to bounce back next year.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/europes-healthtech-industry-enters-new-phase-of-growth</link><guid>3005</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/aff2023.jpg?x30842&amp;amp;x30842</dc:content ><dc:text>Europe’s Healthtech Industry Enters New Phase of Growth</dc:text></item><item><title>Bx Swiss: Test Trades in Swiss Francs via a Decentralized Public-Blockchain.</title><description><![CDATA[Together with major Swiss banks, the Swiss stock exchange BX Swiss is taking the financial market infrastructure for tokenized securities to the next level. In a test, trades on BX Swiss were settled for the first time directly in Swiss francs via a decentralized public-blockchain.
The test was conducted as part of a proof of concept under the auspices of the Capital Markets Technology Association (CMTA). In the process, structured products were issued by the Swiss banks Credit Suisse, Pictet and Vontobel in tokenized form as ledger-based securities on the Ethereum test blockchain and subsequently traded via the BX Swiss trading platform.
In a further step, the trades were settled directly on the blockchain via a globally unique mechanism. For this, the CMTA created an additional open-source smart contract for bilateral and secure settlement without counterparty risk. Cash-side settlement in Swiss francs was carried out for the first time via a direct technical bridge that connected the Ethereum blockchain with the Swiss Interbank Clearing (SIC), the payment system of the Swiss National Bank.
With the proof of concept, BX Swiss was already able to successfully test the technical basis for the settlement of trades in tokenized securities against Swiss francs with various banks. The tested settlement system on a decentralized and public blockchain infrastructure offers cost advantages along the entire value chain of securities (issuance, trade settlement and custody) and enables the exploitation of the potential in the already rapidly growing global market of blockchain-based securities.
In order to be able to productively trade tokenized securities in the near future, BX Swiss still requires a separate and additional financial market license from the Swiss Financial Market Supervisory Authority FINMA.
Lucas Bruggeman, CEO of BX Swiss AG
“Our longer-term goal is to revolutionize securities trading so that more and more retail investors can participate in the capital markets and SMEs have easier access to regulated trading,”
emphasizes Lucas Bruggeman, CEO of BX Swiss.
“The proof of concept with CMTA is a milestone in the cost-efficient settlement of trades in tokenized securities.”
Matthias Müller
“The Swiss legislator has created the necessary regulatory framework for the use of blockchain technology in the capital market. The settlement system tested with the banks can deliver on the promise of this new technology, allowing trades to be settled in a decentralized and much more cost-efficient manner in the future,”
commented Matthias Müller, Head of Markets &amp; Services at BX Swiss.
“We don’t need a new central bank digital currency (CBDC) or a stablecoin for this. This is a decisive and landmark step for the adoption of blockchain technology in the existing financial system.”
Börse Stuttgart Group, to which BX Swiss belongs, is the regulated infrastructure partner for secure access to cryptocurrencies and tokens.



Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/bx-swiss-test-trades-in-swiss-francs-via-a-decentralized-public-blockchain</link><guid>3003</guid><author>Administrator</author><dc:content /><dc:text>Bx Swiss: Test Trades in Swiss Francs via a Decentralized Public-Blockchain.</dc:text></item><item><title>OnlyFans Puts Focus on Payments Business</title><description><![CDATA[OnlyFans, the booming subscription social platform, has built up a considerable payments business and is now looking to add new features and capabilities to create added value for content creators, a new report by publishing platform Workweek says. OnlyFans’ ambition is to improve the payout process and introduce new ways for creators to earn money and monetize their content.
2022 has seen top executives representing OnlyFans appearing at notable fintech events, first in Amsterdam during Money20/20 Europe back in June and then in Las Vegas in October for the annual US edition of the event series, during which they shared the company’s impressive growth metrics and aspiration for their payments business moving forward.
Keily Blair
Keily Blair, chief strategy and operations officer of OnlyFans, said during an interview at Money20/20 Europe 2022 that the company has processed over US$8 billion in terms of payments to creators, showcasing the scale and volume of transactions the firm is now processing.
Lee Taylor
OnlyFans CFO Lee Taylor shared the vision of establishing “a truly international social media platform payment network” that’s able to make payments “as smooth to go USD to USD as it is to go USD to [GBP].” The system also needs to be designed with user experience in mind, he added, allowing, for example, creators to instantly see their earnings and immediately withdraw after the seven-day window set up.
OnlyFans has also significantly ramped up its conversations with banking and payment providers this year, the report says. This cumulated to the opening of its first direct clearing account in the UK this year, which the company never had before.
Founded in 2016, OnlyFans is an Internet content subscription service based in London that allows content creators to earn money from users who subscribe to their content. Creators can also receive funding directly from their followers on a monthly basis, as well as through one-time tips and the pay-per-view (PPV) feature. PPV content refers to messages, posts and streams that fans pay for à la carte to view.
Most recently, OnlyFans started dipping a toe into non-fungible tokens (NFTs), launching in December 2021 a new feature for users to display verified NFTs as profile picture, Reuters reported in February. The feature, CEO Gan said, “is the first step in exploring the role that NFTs can play on our platform.”
OnlyFans operates under a rather simple business model: the creator takes 80% and the platform, 20%. The platform doesn’t have ads or algorithms and Gan said it’s not selling anyone’s data.
Taylor said that the company pays its creators in a variety of ways, including in local currencies and by utilizing platforms like Pix, Brazil’s real-time payment system. But cryptocurrencies are currently off the table, he said, citing compliance and traceability obligations.
“Through the obviously more private crypto world, we need to be sure exactly where those funds are going, and that’s not possible,” Taylor said.
According to the CFO, the site has around 200 million users and two million creators with “very vast, very spread out, diverse content.”
The Financial Times (FT) ranks OnlyFans as the fourth-fastest growing business in Europe. In 2020, the company recorded US$2.4 billion worth of transactions on its platform and posted revenues of about US$338 million, according to the FT.
Blair said OnlyFans differentiates itself from competitors in that users only pay for what they want to view, unlike other subscription services where customers have to pay for content they may not want to consume.
OnlyFans’ new focus on the payment side of its business comes as little surprise considering that last year, the company nearly banned porn on its platform over pressure coming from credit card companies and banks including Mastercard, BNY Mellon and JPMorgan Chase.
Although OnlyFans is general-purpose, the platform has proven particularly popular among those who use it to sell (sex) pictures and videos and hold personal chats with clients.
The move suggests a desire to reduce its dependence on third-party financial services providers who have shown their power to influence online content by limiting who may or may not get paid.

Featured image credit: Edited from Unsplash and Freepik
]]></description><link>https://fintechnews.eu/onlyfans-puts-focus-on-payments-business</link><guid>3002</guid><author>Administrator</author><dc:content /><dc:text>OnlyFans Puts Focus on Payments Business</dc:text></item><item><title>Bundesrat verabschiedet Bericht zur Akzeptanz von Bargeld in der Schweiz</title><description><![CDATA[Der Bundesrat hat anlässlich seiner Sitzung vom 9. Dezember den Bericht «Die Akzeptanz von Bargeld in der Schweiz» verabschiedet, der in Erfüllung des Postulates 18.4399 von Nationalrätin Prisca Birrer-Heimo verfasst wurde.
Bargeld erfüllt wichtige Funktionen für Wirtschaft und Gesellschaft. Der Bundesrat erachtet deshalb eine aufmerksame Beobachtung der Entwicklungen im Bargeldbereich als notwendig. Die im Postulat vorgeschlagene zwingende Bargeldannahmepflicht lehnt der Bundesrat aber ab. Diese wäre ein starker Eingriff in die Vertragsfreiheit und in das Grundrecht der Wirtschaftsfreiheit.
Der Nationalrat hatte am 17. Dezember 2020 das Postulat Birrer-Heimo mit dem Titel «Die breite Akzeptanz von Bargeld auch in Zukunft sicherstellen» angenommen. Damit beauftragte er den Bundesrat, in einem Bericht aufzuzeigen, wie die breite Akzeptanz von Bargeld in Zukunft sichergestellt werden kann.
Höhere Attraktivität der digitalen Zahlungsmittel schwächt die Rolle von Bargeld
In der Schweiz hat Bargeld im internationalen Vergleich einen hohen Stellenwert, verliert aber gegenüber bargeldlosen Zahlungsmitteln tendenziell auch an Bedeutung, wie aus verschiedenen Umfragen und Untersuchungen hervorgeht. In erster Linie ist dies auf die gestiegene Attraktivität von bargeldlosen Zahlungsmitteln hinsichtlich Nutzerfreundlichkeit und Geschwindigkeit zurückzuführen (z.B. Zahlkarten mit Kontaktlosfunktion). Die Corona-Pandemie hat die Veränderungen in der Zahlungsmittelnutzung beschleunigt.
Bargeld erfüllt wichtige Funktionen
Bargeld erbringt nicht nur individuellen Nutzen, sondern erfüllt auch wichtige Funktionen für Wirtschaft und Gesellschaft, die bargeldlose Zahlungsmittel bislang nicht vollständig ersetzen können. Bargeld ermöglicht der Allgemeinheit den Zugang zu Zentralbankgeld, stärkt die Krisenresilienz gegenüber Ausfällen der elektronischen Zahlungssysteme, wahrt die Privatsphäre und ermöglicht es auch Personen ohne Bankkonto respektive ohne Zugang zu bargeldlosen Zahlungsmitteln, am Wirtschaftsleben teilzunehmen (finanzielle Inklusion). Ein weitgehendes Verschwinden von Bargeld sollte deshalb vermieden werden, insbesondere solange keine gleichwertige bargeldlose Alternative zur Verfügung steht.
Zwingende Annahmepflicht weder angemessen noch notwendig
Der Bundesrat ist der Ansicht, dass die Wahl der Zahlungsmittel weiterhin grundsätzlich den privaten Haushalten und Unternehmen überlassen sein soll. Eine Zahlungsmethode sollte daher nicht gegenüber einer anderen bevorzugt werden. Der Bund und die Schweizerische Nationalbank (SNB) haben stets eine neutrale Position in Bezug auf die Wahl der Zahlungsmittel vertreten. Vor diesem Hintergrund erachtet der Bundesrat die im Postulat vorgeschlagene Massnahme, die geltende Bargeldannahmepflicht von dispositivem Recht (d.h. Möglichkeit zum vertraglichen Ausschluss von Barzahlungen) in zwingendes Recht umzuwandeln, derzeit als weder angemessen noch notwendig.
Eine zwingende Annahmepflicht wäre ein starker Eingriff in die Vertragsfreiheit und in das Grundrecht der Wirtschaftsfreiheit, würde unter Umständen hohe Kosten für einzelne Wirtschaftsakteure verursachen und könnte zu Wettbewerbsverzerrungen führen. Zudem besteht zurzeit keine Notwendigkeit für einen solchen Eingriff, weil die Bargeldverwendung in der Schweiz nach wie vor hoch, die Bevölkerung mit dem Bargeldzugang grundsätzlich zufrieden und die Bargeldakzeptanz nur punktuell eingeschränkt ist. Ausserdem müsste der Online-Handel eine Ausnahme bilden, da hier eine zwingend ausgestaltete Annahmepflicht kaum praktikabel wäre.
Aufmerksame Beobachtung der Entwicklungen im Bargeldbereich wichtig
Gleichwohl erachtet der Bundesrat aufgrund der wichtigen wirtschaftlichen und gesellschaftlichen Funktionen des Bargelds eine aufmerksame Beobachtung der weiteren Entwicklungen im Bargeldbereich als notwendig, um rechtzeitig einen allfälligen Handlungsbedarf zu erkennen und geeignete, im Vergleich zur zwingenden Annahmepflicht weniger einschneidende Massnahmen ergreifen zu können.
Aus diesem Grund hat der Bundesrat das EFD beauftragt, ihn regelmässig über die Entwicklung des Bargeldzugangs, der Bargeldakzeptanz und der Bargeldverwendung sowie über Innovationen im Bereich von alternativen Zahlungsmitteln zu informieren und bei Bedarf Handlungsoptionen aufzuzeigen. Des Weiteren erteilte er dem EFD den Auftrag, einen Runden Tisch zwischen den am Bargeldverkehr beteiligten Akteuren (SNB, Bund, Banken, Detailhandel, Dienstleistungsanbieter, Verbraucherverbände etc.) zu etablieren.
Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/bundesrat-verabschiedet-bericht-zur-akzeptanz-von-bargeld-in-der-schweiz</link><guid>3001</guid><author>Administrator</author><dc:content /><dc:text>Bundesrat verabschiedet Bericht zur Akzeptanz von Bargeld in der Schweiz</dc:text></item><item><title>London Challenger Bank Allica Bank Raises £100M Series C Funding</title><description><![CDATA[Allica Bank, a fintech SME challenger bank in London, has announced a £100 million Series C funding round led by global growth technology investor, TCV, with participation from existing investors Warwick Capital Partners and Atalaya Capital Management.
With this investment, Allica joins TCV’s impressive roster of portfolio companies, including household names like Airbnb, Netflix, and Spotify, as well as category-defining fintechs such as Brex, Mambu, Mollie, Nubank, Qonto, Razorpay, Revolut, Toast, Trade Republic and Zepz.
This new investment allows Allica to scale rapidly and accelerate its disruptive impact in the UK SME market, following the bank’s impressive growth, as well as its profitability milestone, achieved in June this year.
Allica is the UK’s only digitally-native challenger bank committed to providing a full-service banking relationship to established SMEs and entrepreneurs, offering them lending, savings and payments.
These established SME businesses typically have 10 to 250 employees and represent around a third of the UK economy – yet are neglected by both mainstream high street banks and other fintechs who instead focus on consumers and micro-businesses.
Richard Davies
Richard Davies, Chief Executive of Allica Bank and former executive at HSBC and Revolut, said:
“From the moment we sat down with TCV it was clear we shared the same vision to transform SME banking in the UK, by taking on the mainstream ‘high street’ banking market”
“It’s a massive vote of confidence in the team we’ve built at Allica to attract backing from such a world-class technology investor under the toughest of market conditions, and this £100 million funding round will enable us to support far more of Britain’s established and growth companies, who have been underserved for too long.”
Michael Kalfayan
Michael Kalfayan, Partner at TCV said:
“Richard and team have built a truly impressive platform that is looking to solve a great need for UK established SMEs, a highly complex segment to serve. TCV is laser-focused on partnering with market-leading companies seeking to leverage technology to transform industries. Allica is a prime example of this and we’re incredibly excited to collaborate with this strong team as they work to be the country’s leading digitally-native SME bank.”

]]></description><link>https://fintechnews.eu/london-challenger-bank-allica-bank-raises-100m-series-c-funding</link><guid>2999</guid><author>Administrator</author><dc:content /><dc:text>London Challenger Bank Allica Bank Raises £100M Series C Funding</dc:text></item><item><title>Cloud Infrastructure Deal: LSEG and Microsoft Launch 10-Year Strategic Partnership</title><description><![CDATA[London Stock Exchange Group (LSEG) and Microsoft have entered into a new long-term strategic partnership to architect LSEG’s data infrastructure using the Microsoft Cloud, and to jointly develop new products and services for data and analytics. The partnership will build on the good progress made by LSEG on the integration of Refinitiv and enhance its position as a world-leading financial markets infrastructure and data provider.
With the Microsoft Cloud and its AI capabilities, the deal significantly advances LSEG’s strategy of building an efficient and scalable platform for its Data &amp; Analytics business to deliver next-generation services for a range of customers across the financial markets value chain through improved workflow and greater flexibility.
Microsoft to make equity investment in LSEG through acquisition of shares 
Under the arrangements, LSEG’s data platform and other key technology infrastructure will migrate into Microsoft’s Azure cloud environment. Workspace, LSEG’s next-generation data and analytics workflow solution, will become interoperable with certain Microsoft applications and the companies plan to introduce innovative new cloud-based analytics services. LSEG and Microsoft have also agreed to explore the development of digital market infrastructure based on cloud technology, with a goal to transform how market participants interact with capital markets across a broad range of asset classes. Migration of regulated applications will be subject to applicable regulated entity board and regulator approval, prior to the relevant migration.
David Schwimmer
David Schwimmer, CEO of LSEG, said:
“This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers.”
“Bringing together our leading data sets, analytics, and global customer base with Microsoft’s comprehensive and trusted cloud services and global reach creates attractive revenue growth opportunities for both companies.
“We are delighted to welcome Microsoft as a shareholder. We believe our partnership with Microsoft will transform the way our customers discover, analyse, and trade securities around the world, and create substantial value over time. We look forward to delivering on that potential.”
Satya Nadella
Satya Nadella, Chairman and CEO, Microsoft, said:
“Advances in the cloud and AI will fundamentally transform how financial institutions research, interact, and transact across asset classes, and adapt to changing market conditions.”

Strategic partnership highlights

New collaboration to architect LSEG’s data infrastructure and build intuitive next-generation productivity, data and analytics and modelling solutions with Microsoft Azure, AI, and Microsoft Teams
Step-change in services for customers across the financial markets value chain, including an enhanced version of LSEG Workspace with seamless Teams communication and Microsoft 365 interoperability with built-in compliance for the first time
LSEG’s data platform and other key technology infrastructure to migrate to Microsoft Azure, enhancing its existing cloud migration strategy
Microsoft to purchase approximately 4% equity stake in LSEG through the acquisition of shares from the Blackstone/Thomson Reuters Consortium
It is intended that Scott Guthrie, Microsoft’s Executive Vice President, Cloud and AI Group, will be appointed as a non-executive director of LSEG in due course subject to receipt of appropriate approvals

Financial effects for LSEG

Expected to increase LSEG’s revenue growth meaningfully over time as new products come on-stream
Total incremental cash costs over 2023-2025 expected to be in the range of £250-300 million, including around £100 million in capex and a 50-100 basis points impact on EBITDA margin over the same period
Contractual commitment by LSEG for minimum cloud-related spend with Microsoft of $2.8 billion (£2.3 billion) over the term of the partnership, reflecting minimum cloud consumption expectations and consistent with existing long-term opex and capex plans
Additional spend with Microsoft will be driven by the success of the strategic partnership, based on demand for LSEG’s data platform and other professional services


]]></description><link>https://fintechnews.eu/cloud-infrastructure-deal-lseg-and-microsoft-launch-10-year-strategic-partnership</link><guid>3000</guid><author>Administrator</author><dc:content /><dc:text>Cloud Infrastructure Deal: LSEG and Microsoft Launch 10-Year Strategic Partnership</dc:text></item><item><title>UK Fintech 9fin Raises $23 Million Series A+ to Accelerate Growth Plans in North America</title><description><![CDATA[9fin, an analytics platform for debt capital markets, today announced a $23 million Series A+ led by new investor Spark Capital with participation from existing investors Redalpine, AI Seed, Seedcamp, 500 Startups, and Ilavska Vuillermoz Capital. Spark Capital General Partner, Alex Finkelstein, will join 9fin’s Board. The new capital will be used to scale the 9fin team, grow its presence in the US market and expand its product into new asset classes.
9fin’s mission is to organize the world’s leveraged finance information and make it accessible and useful through its data, news and predictive analytics platform. Leveraging proprietary machine learning and computer vision, 9fin is the faster, smarter way to find leveraged finance intelligence, centralizing everything that’s needed to analyze a credit or win a mandate in one place.
To date, 9fin has raised nearly $37 million in total funding including early investments from Fly Ventures, and a number of high net worth individuals including co-founder of Indeed Paul Forster and co-founder of MMC Ventures Alan Morgan. Since 2021, the company has more than doubled its client base, tripled its team and quadrupled its ARR. 9fin’s recent success, customer demand and fresh capital spurred the opening of a new office in New York City, which will be led by CEO and co-founder, Steven Hunter. Hussam El-Sheikh, CTO and co-founder will continue to lead the London office and all aspects of engineering
Steven Hunter
“We didn’t set out to fundraise, but when we spoke with Alex and the team at Spark, they were incredibly enthusiastic about the business and their culture and operating experience is a great fit for us. So we decided to raise opportunistically and accelerate our US GTM timing,” said Hunter.
“We’ve seen incredible success with our platform in Europe and are thrilled to expand in the US. With this round, we will grow our US team to more than 70 people with new hires planned across credit, legal and sales.”
Despite debt markets being the largest asset class in the world, market participants rely on antiquated technology for analysis. In 2021, annual spend on financial data increased to $36 billion (Burton Taylor) and annual fees for advising on debt transactions reached $75 billion (Refinitiv), twice the size of fees earned on M&amp;A transactions and IPOs.
9fin’s platform makes incredibly complex information easy to search, filter and analyze. Helping subscribers win business, outperform their peers and save time. The company currently supports over 60 customers including nine of the top 10 investment banks, four of the top five distressed debt advisors, 80% of European HY Sales &amp; Trading desks and four of the top six law firms in debt capital markets.
Aleksandra Laska
Aleksandra Laska, Partner at Redalpine Switzerland, added,
“We’ve seen 9fin go from strength to strength since we invested last year. They’ve delivered impressive revenue growth, significant product developments and added some outstanding talent to their team. They’re well placed to execute on their next stage of their vision, and we’re delighted to continue to support them.”
9fin is headquartered in London, with its new US office located in New York City’s Greenwich Village. The company was co-founded by Hunter and El-Sheikh, long-time friends from University.

This article first appeared on Fintechnews.America

]]></description><link>https://fintechnews.eu/uk-fintech-9fin-raises-23-million-series-a-to-accelerate-growth-plans-in-north-america</link><guid>2997</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/AM.png?x30842</dc:content ><dc:text>UK Fintech 9fin Raises $23 Million Series A+ to Accelerate Growth Plans in North America</dc:text></item><item><title>TripActions Secures $400M in Credit Facilities From Goldman Sachs and Silicon Valley Bank</title><description><![CDATA[TripActions, the all-in-one travel, corporate card, and expense management solution, today announced that it secured $400M in credit facilities, consisting of a warehouse debt facility from Goldman Sachs Bank USA, as the senior lender and administrative agent, with a $200M commitment ($300M total Program Limit) and an asset-backed lending facility of $100M led by Silicon Valley Bank. The credit facilities will be used to accelerate the expansion of TripActions’ customer base.
The announcement comes on the heels of TripActions’ recent Series G up-round, which valued the company at $9.2B, and the company’s fourth Europe-based acquisition in 18 months. The warehouse facility will enable the continued growth of TripActions’ innovative, award-winning corporate card and expense management solution, TripActions Liquid, as companies look to increase real-time visibility, control, and savings.
Michael Sindicich
“TripActions Liquid is the expense solution for companies that need to balance savings with proactive control in a complex macroeconomic environment,” says EVP Michael Sindicich, Head of TripActions Liquid.
“With this new warehouse facility from Goldman Sachs, TripActions Liquid is well positioned to support its customers while continuing to innovate at a rapid pace.”
In Q3 FY23, TripActions Liquid recorded more than 5x year-over-year spend volume from leading customers across multiple verticals and segments, including Zoom, Canva, Carta, Toast, Lyft, Notion, Databricks, and VaynerMedia.

This article first appeared on Fintechnews.America

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/tripactions-secures-400m-in-credit-facilities-from-goldman-sachs-and-silicon-valley-bank</link><guid>2998</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/AM.png?x30842</dc:content ><dc:text>TripActions Secures $400M in Credit Facilities From Goldman Sachs and Silicon Valley Bank</dc:text></item><item><title>Syz Crypto: Bank Syz Selected Taurus for Its New Digital Asset Offering</title><description><![CDATA[Bank Syz has collaborated with Taurus to launch its new digital asset offer Syz Crypto. It will cover the safekeeping and trading of digital assets to the Bank’s private, professional and institutional clients.
Concretely, the Bank has integrated Taurus-PROTECT, a technology that allows the custody of digital assets such as cryptocurrencies, tokenized securities as well as NFTs and Taurus-EXPLORER for the connectivity to &gt;15 blockchain protocols, including Bitcoin (BTC) and Ethereum (ETH) ; which were selected by the bank to launch their services.
Charles-Henry Monchau
Charles-Henry Monchau, Bank Syz CIO said,
“Thanks to our partnership with Taurus, we now offer our clients the convenience of accessing the digital asset world through a regulated custodian with strong investor protection and supervision. Syz Crypto also enables our clients to get a holistic view of their traditional and digital assets in their bank reporting.”
Sebastien Dessimoz
Sebastien Dessimoz, co-founder and managing partner, Taurus said,
“We are delighted to support Bank Syz, a leading innovative private bank with strong convictions in the digital assets space. We are seeing strong traction in Switzerland and Geneva in particular which is becoming a hub in the industry.”

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/syz-crypto-bank-syz-selected-taurus-for-its-new-digital-asset-offering</link><guid>2995</guid><author>Administrator</author><dc:content /><dc:text>Syz Crypto: Bank Syz Selected Taurus for Its New Digital Asset Offering</dc:text></item><item><title>Aude Pugin and Sergio Ermotti Elected as New Innosuisse Board of Directors</title><description><![CDATA[On 9 December, the Federal Council elected Aude Pugin, CEO of APCO Technologies, and Sergio Ermotti, Chairman of the Board of Directors of Swiss Re Group, to the Board of Directors of Innosuisse.
The new members will take up their duties on 1 January 2023. They will replace Nicola Thibaudeau and Thierry Calame, who will step down at the end of 2022.
The Innosuisse Board of Directors welcomes Aude Pugin and Sergio Ermotti, both top names in the business world who can contribute their long-standing experience. As CEO of APCO Technologies, Aude Pugin brings in-depth personal experience in innovation in the SME and space sector. Sergio Pietro Ermotti spent over 40 years in the financial industry, both at national and international levels, including almost ten years as CEO of UBS Group AG. Today he is Chairman of the Board of Directors of Swiss Re Group. Both new members are well connected nationally and internationally.
The new composition of the Innosuisse Board safeguards the Board’s diversity and the continued close link between science and business. The proportion of women is 43%. Three members are native French speakers, two native German speakers, and two native Italian speakers. Innosuisse promotes science-based innovation in the interests of the economy and society. In accordance with the Innosuisse Act, the Board of Directors of Innosuisse consists of five to seven members from the worlds of science and business. It steers the Federal Innovation Promotion Agency strategically and in line with the objectives of the Federal Council.
Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/aude-pugin-and-sergio-ermotti-elected-as-new-innosuisse-board-of-directors</link><guid>2996</guid><author>Administrator</author><dc:content /><dc:text>Aude Pugin and Sergio Ermotti Elected as New Innosuisse Board of Directors</dc:text></item><item><title>Curve Secures $1 Billion Deal From Credit Suisse</title><description><![CDATA[Curve, the London based financial super app, announced that the company has closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.
The Curve Flex product allows customers to split any transaction they’ve made with Curve – at any merchant, using any card, anywhere in the world – into monthly instalments. This uniquely flexible feature allows Curve’s customers to be more responsible with their cash flow while reducing their borrowing costs. Flexing a Curve transaction smooths a larger payment over time, can put cash back in a bank account if needed, and provides a convenient way to pay off their credit card balance.

Paul Harrald
“We have ambitious plans for lending. We have launched and very successfully tested our unique Curve Flex product, and are delighted to be able to scale our lending capabilities with this new financing,”
said Paul Harrald, CIO of Curve Group and the Global Head of Curve Credit, Curve’s consumer lending business.
“Securing financing of this size during this period of economic uncertainty is a testament to the broad support of our bold expansion plans underpinned with now demonstrated expertise with data. We certainly are very pleased with the results of our lending to date, with our highly responsible approach encouraging responsible borrowing providing for excellent credit quality in a difficult market.”
Curve, which launched to the public in 2018 and has amassed more than 4 million customers globally, is a one-of-a-kind digital wallet that combines all your money into one app with one card. In addition to the Flex product, Curve touts many unique features, including the ability to “Go Back in Time” to move past purchases between accounts and/or cards and allows customers to use their credit cards abroad. Curve’s rewards offering also allows customers to “double dip” rewards – offering an additional ten percent cash back on purchases made with Curve on top of existing credit card rewards programs.
In the UK, Curve Flex launched with a product called Swipe Now to Pay Later (‘SNPL’) – enabling customers to split any transaction they make on the Curve card into three, six, nine or 12 monthly instalments. With funding secured, Curve now plans to expand its offering across markets into the EU and the US as well as with innovative new product offerings, such as the ability to access a direct line of credit before making a transaction and the ability to refinance existing credit lines. In 2023, the company also plans to launch a buy now pay later (BNPL)-style lending product for customers both in-app and in-browser.
To date, Curve has raised more than $180 million in equity investment and has reached over millions of customers around the world with its unique product and innovative partnerships with the likes of Samsung.
]]></description><link>https://fintechnews.eu/curve-secures-1-billion-deal-from-credit-suisse</link><guid>2994</guid><author>Administrator</author><dc:content /><dc:text>Curve Secures $1 Billion Deal From Credit Suisse</dc:text></item><item><title>IMTF Completes Acquisition of Siron Compliance Solutions From FICO</title><description><![CDATA[Analytics software firm FICO has sold off it Siron® compliance business to IMTF, a provider of AML compliance and process automation for financial institutions.
The transaction includes FICO transitioning all Siron-related customer relationships and commitments to IMTF.
Through this agreement, IMTF will assume responsibility for the entire Siron Anti Financial Crime business worldwide.
This enables IMTF to further develop and extend the Siron Suite and to support the application and the related SaaS offering globally.
Having been a strategic partner in the Siron business for more than 20 years, IMTF has in-depth knowledge of both its product solutions and the regulatory space.
Siron’s anti-financial crime suite of solutions include Siron AML (Anti Money Laundering), Siron KYC (Know Your Customer), Siron EMBARGO (sanctions) and SironTCR (Tax Compliance) with associated case management and reporting.
Additionally, Sebastian Hetzler, currently Vice President of Compliance Product Management at FICO, will move to IMTF as Co-CEO.
Will Lansing
Will Lansing, CEO of FICO said,
“We are proud of the work and innovation that the FICO team put into Siron to make it an industry-leading solution and the fact that this same team will be joining IMTF means that customers can rely on a seamless transition.

We are confident that IMTF’s investment in the development and growth of Siron will best serve the needs of the customers and partners of the Siron business,”
Gion-Andri Büsser
Gion-Andri Büsser, CEO of IMTF added,
“The addition and combination of the Siron products with our existing – complementary – technology offers a unique opportunity to better serve our clients and move towards integrated solutions in the compliance and regtech space.

Through the transaction, we will not only be able to offer existing customers confidence, support and a long-term roadmap for their products but also increase the customer value through complementary tools, leveraging latest developments in AI and Data Science”


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/imtf-completes-acquisition-of-siron-compliance-solutions-from-fico</link><guid>2993</guid><author>Administrator</author><dc:content /><dc:text>IMTF Completes Acquisition of Siron Compliance Solutions From FICO</dc:text></item><item><title>TX Ventures Launches CHF 100 Million Fintech Fund to Invest in Early Stage Startups</title><description><![CDATA[TX Ventures, the VC arm of Swiss media company TX Group, announced that it has launched a European CHF 100 million fintech investment fund with a particular focus on startups from the DACH region.
The fund is structured as a single limited partnership, and its sole investor is TX Group.
The VC arm said in a statement that its current mandate will be to invest in early stage fintech, insurtech, and crypto startups ranging from seed funding to Series A with initial tickets ranging from CHF 500,000 to CHF 5 million.
TX Ventures has laid the groundwork to prepare for the new fintech fund through the implementation of a professional investment committee.
The TX Ventures investment committee is chaired by Romy Schnelle, Partner at Hightech Gründerfonds (HTGF) and complemented by fintech founder Miriam Wohlfarth, Sandro Macchiacchini (COO of TX Group), Daniel Mönch (CSO of TX Group) and Olivier Rihs (Board Member SMG and JobCloud).
The team comprising Krzysztof Bialkowski, Jens Schleuniger, David Schnider and Markus Rommel has already built a strong portfolio of Swiss-based fintechs.
Some of the past investments made by TX Ventures include Swiss challenger bank neon, the alternative investment platform Stableton, the real estate price intelligence software Pricehubble, and exits such as the mortgage platform Moneypark.
The VC said in a statement,
“TX Ventures believes that – despite the current economic headwinds – the current market environment offers great investment opportunities.

The team has a clear long term ambition to become one of the leading early stage fintech investors in Europe, a growing and sizable market for fintech.”

Featured image: The TX Ventures team from left to right: Krzysztof Bialkowski, Markus Rommel, David Schnider, Jens Schleuniger

]]></description><link>https://fintechnews.eu/tx-ventures-launches-chf-100-million-fintech-fund-to-invest-in-early-stage-startups</link><guid>2992</guid><author>Administrator</author><dc:content /><dc:text>TX Ventures Launches CHF 100 Million Fintech Fund to Invest in Early Stage Startups</dc:text></item><item><title>17 Rising Fintech DACH Stars that Went Live in 2022</title><description><![CDATA[Fintech Innovators has released its annual report featuring the most exciting and fastest-growing fintech and insurtech companies across Germany, Austria and Switzerland (DACH).
Produced in collaboration with robo-advisory platform Inno Invest, startup acceleration program German Accelerator, consulting firm KPMG and tech provider Amazon Web Services, the report aims to give a comprehensive view of DACH’s burgeoning fintech and insurtech industries, highlighting this year more than 110 ventures that are reshaping the finance and insurance sectors.
The report categorizes these companies in three groups: the New Stars, which encompasses DACH fintech and insurtech startups that launched in 2022; the Young Stars, or companies that entered the market in the years 2019-2021 and which are developing exciting brands and products; and the Established, which comprises companies that entered the market in 2017 or 2018.
40 companies make up the New Stars category, 61 companies comprise the Young Stars category, and 11 are considered as being Established fintech and insurtech brands.
To get a sense of DACH’s emerging fintech and insurtech startups, we look today at the 40 New Stars, delving into those that have made significant strides this past year and examining the 17 startups that have fully launched their products.
InsiderPie

Founded in 2022 in Germany, InsiderPie is a digital platform that tracks and analyzes transactions of professional players on the capital market and provides users with data for long-term investments. The findings are based on three pillars: trades made by star investors like Warren Buffett, directors’ dealings, and the analyst ratings of well-known banks.
InsiderPie currently operates in the DACH region but plans to expand to the US and Great Britain within the next two to three years. The startup is also looking to secure funding and ink a collaborate with a strategic partner.
Wattify

Founded in 2021 in Germany, Wattify is a blockchain-based fully banking compliant crowd-investment platform which offers retail investors access to renewable energy projects via so-called electronic crypto securities.
Wattify is active in DACH but plans to expand across the broader European region. Within the next 18 months, the startup plans to launch more projects, build up a stable business-to-consumer (B2C) customer base and develop a business-to-business-to-consumer (B2B2C) business model.
Foma

Founded in 2021 in Germany, Foma is a digital receivables management platform. By using advanced technology, artificial intelligence (AI) and data science, Foma is able to offer a customer journey tailored exclusively to small and medium-sized enterprises (SMEs), from registration, onboarding claims, E2E collection and added value services and reporting etc., all done digitally and using the platform as one medium.
Within the next 18 months, Foma plans to onboard at least 1,000 new customers, build one or two new products, start developing interfaces to its distribution partners. Foma secured undisclosed seed funding in August.
Spiritory

Founded in 2022 in Germany, Spiritory is a trading platform for blue-chip spirits, wine and sparkling wine. The platform focuses on the investment, purchase, and sale of spirits, wines, and sparkling wines, enabling users to have access to blue-chip assets at the true market price.
Spiritory is active in Germany but plans to expand to the broader European Union (EU), the UK and Asia within the next three years. Within the next 18 months, the startup hopes to close its first investment round and will focus on building up its user base.
Iknaio Cryptoasset Analytics

Founded in 2021 and based in Austria, Iknaio Cryptoasset Analytics provides operational services helping organization mitigate illicit activities involving crypto-assets. Iknaio offers services around the open-source analytics platform GraphSense, and serves investigators from national authorities, law enforcement agencies, security companies, and the payment industry.
Iknaio operates across Europe and plans to expand to Asia and the US. The company, which has managed to win the first governmental customers in Austria and Germany, hopes to establish a network of more than five valuable partner in different areas within the next 12 months.
Cure Finance

Founded in 2020 and based in Germany, Cure Finance is an intelligence banking platform for healthcare professionals. Leveraging open banking, the platform integrates seamlessly into the processes of medical practice and supports healthcare professionals in making business processes more transparent and making better financial decisions.
Cure Finance closed EUR 1.4 million in funding in October 2021. The company is planning to launch in Austria and Switzerland within the next three years.
Fynn

Founded in 2022 and based in Germany, Fynn is a billing software for accounts payable and accounts receivable management that aims to streamline financial processes with automation.
Fynn hopes to expand across the whole DACH region within the next three years. In the next 18 months, it says it will focus on securing funding and tying up with strategic partners that would help it bring its product to the next level. It will also continue expanding its product portfolio and launch more financial modules.
Finance, Baby!

Finance, Baby! is a financial education platform for women that provides content addressing taxes, retirement provision, stock trading, exchange traded funds (ETFs), cryptocurrency, real estate financing, and more.
The online courses consist of videos that users can watch at any time, followed by interactive instructions, checklists and more. Customers can also book a consultation with a financial expert and can enroll for any of the services provided by Finance, Baby! partners directly from the app.
Finance, Baby! claims more than 5,000 active app users and says it has already secured its first round of funding. Within the next 18 months, it hopes to raise its next financing round and launch an updated version of its app with more features.
Taxefy

Founded in 2021 and based in Austria, Taxefy is a tax app that helps users do their tax returns quickly and seamlessly online. After signing up to the service, users simply need to answer an average of 40 tailored questions for the platform to calculate the estimated amount of their tax refund. Users can then choose to have Taxefy send the tax return to the tax office.
Taxefy currently operates in Austria but wishes to expand to other European markets within the next three years. The company claims it has successfully submitted over 10,000 tax cases with a total tax volume of over EUR 7 million to the tax office. It’s now looking to secure at least EUR 2 million in funding in exchange for 15% of the company.
Kaspar&amp;

Founded in 2020 and based in Switzerland, Kaspar&amp; is a wealth manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) that combines wealth management with payments.
The company provides customers with a Swiss bank account, an investment account, and a prepaid Mastercard. Every time a user pays with the Kaspar&amp; card, it’s rounded up to the next CHF and the difference is automatically invested in the form of micro-investments. Other products it offers include individual saving- and investment plans in which customers can pay-in or pay-out at any time as much as they want.
Within the next three years, Kaspar&amp; plans to expand to Germany and Austria. It hopes to close a seed round within the next year.
Fiat24

Founded in 2018 and based in Switzerland, Fiat24 specializes in banking services for the metaverse. The company provides a core banking system built entirely on blockchain and powered by smart contracts, offering clients multi-currency cash accounts that can be topped-up by peers, through a bank transfer, and a crypto-to-fiat top-up.
Fiat24, which claims more than 10,000 users, operates in Switzerland and the European Union but hopes to expand beyond the region and into Asia within the next three years. In the next 18 months, it hopes to amass a total of 100,000 users.
Inno Finanz

Founded in 2021 and based in Germany, Inno Finanz is a brokerage bank focusing on personalized advice on hedging, insurance, capital investments and construction and housing. The company seeks to act as a “professional financial coach” to its customers, striving to select the ideal banking and insurance products for them.
Inno Finanz currently operates in three regions of Germany but hopes to expand across the whole country within the next three years. In the next 18 months, it says it will focus on increasing sales volume and open five new locations to expand its reach.
Splint Invest

Founded in 2021 and based in Switzerland, Splint Invest is an alternative asset investment platform that allows users to start investing with as little as EUR 50. The platform aims to make alternative asset classes easily accessible for everyone, focusing initially on fractional investing in luxury items, like whisky, watches, wine, cars, and art.
Splint Invest claims it has onboarded over 5,000 retail investors already, but hopes to reach 15,000 within the next 18 months. The startup recently secured CHF 500,000 just a few months after winning CHF 150,000 from Venture Kick.
Money Masters

Founded in 2020 and based in Switzerland, Money Masters is a gamified financial education platform that makes it easy and fun to lean about money. The company has built an interactive financial journey that takes users from the basics of personal finance to more complex topics like investing and economics. In addition, the platform offers financial games to bridge the gap between theory and practice.
Money Masters is available in most countries of the world but will be putting a bigger focus on Latin America over the next three years. The company claims 30,000 users and hopes to secure funding and onboard strategic partners within the next year.
Denario

Founded in 2021 and based in Germany, Denario is an integrated B2B payment platform providing secure bill payments, payouts and invoicing services. Denario allows SMEs and startups to automate their accounts payable and receivable functions, and leverages open banking to let them connect their financial accounts such as bank accounts, PayPal and Stripe.
Denario operates in the EU and the UK and plans to expand to the US within the next three years. In the next 18 months, the startup said it will release several new payment methods and modalities. Denario secured EUR 1.3 million in January
Clanq

Founded in 2021 and based in Switzerland, Clanq is a mobile finance app that aims to support parents in making sustainable provisions for the future of their children. The solution allows families to create and grow savings for their kids seamlessly by leveraging the not-utilized saving potential.
The company claims families using its platform can save up to 30% more through a combination of cashback, automated savings with family and friends, and sustainable investments.
Clanq is currently available in Germany but plans to expands across the European region within the next three years. For the next 18 months, the startup said it will focus on launching an teenage banking offering and expand to other European countries.
Foreus

Founded in 2021 and based in Austria, Foreus is a cyber and crypto security firm that combines open source intelligence with software-based information gathering from the darknet to tackle crypto crimes. Foreus serves lawyers, banks and finance companies, helping them detect digital fraud, gather evidence of crimes, and comply with regulations.
Foreus currently operates in DACH, Turkey and Dubai, but plans to launch in Italy and the UK within the next three years.
]]></description><link>https://fintechnews.eu/17-rising-fintech-dach-stars-that-went-live-in-2022</link><guid>2990</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/Wattify-300x86.jpeg?x30842</dc:content ><dc:text>17 Rising Fintech DACH Stars that Went Live in 2022</dc:text></item><item><title>UBS Next Participates in $20 Million Series B of Israel Compliance Tech Startup</title><description><![CDATA[Shield, a compliance tech platform based in Tel Aviv, announced its $20 million Series B financing round, which was led by Macquarie Capital and joined by UBS through its venture and innovation unit UBS Next, Mindset Ventures and OurCrowd.
This funding follows its $15 million Series A round in early 2022. With more than 100 employees, Shield will use funds from its Series B financing to further grow in existing markets and expand into new ones, including the US. The firm is also opening its second R&amp;D facility in Lisbon, Portugal, and will also use the capital to propel its leadership in innovation, as it continues the development of its leading financial compliance platform.
To increase efficiency and help meet regulatory compliance standards, leading global financial institutions have deployed Shield to monitor and manage their electronic communication data.
Shiran Weitzman
“We’re thrilled to be able to begin work with UBS on multiple levels – as a client and now as an investor in our latest funding round,”
said Shiran Weitzman, CEO and Co-founder of Shield.
“This is further proof that there is an immediate market need for a modern, proactive solution that supercharges surveillance across communication channels and that Shield is well-positioned to meet that need.”
Macquarie Capital, Shield’s largest investor and the lead investor for the Series B financing round, Mindset Ventures and OurCrowd are all joining the latest round after initial investment in Shield’s Series A. Shield has now raised a total of $35 million in 2022.
This article first appeared on fintechnews.ae
]]></description><link>https://fintechnews.eu/ubs-next-participates-in-20-million-series-b-of-israel-compliance-tech-startup</link><guid>2991</guid><author>Administrator</author><dc:content /><dc:text>UBS Next Participates in $20 Million Series B of Israel Compliance Tech Startup</dc:text></item><item><title>EIB and Goldman Sachs Issue First Euro-Denominated Digital Bond on a Private Blockchain</title><description><![CDATA[The European Investment Bank (EIB) — in collaboration with Goldman Sachs Bank Europe, Santander and Société Générale — launched Project Venus, their second euro-denominated digitally native bond issue and first using private blockchain technology.
The €100 million, two-year bond was issued, recorded and settled using private blockchain-based technology, and represents the inaugural issuance on Goldman Sachs’ tokenisation platform – GS DAPTM.
Banque de France and the Banque centrale du Luxembourg took part in the project to provide a digital representation of euro central bank money in the form of tokens. Société Générale Security Securities Services (SGSS Luxembourg) and Goldman Sachs Bank Europe SE acted respectively as on-chain custodian and account keeper.
Project Venus consists of the issuance by the EIB of a series of bonds on a blockchain, where investors purchased and paid for the security tokens using traditional currency. The joint lead managers — Goldman Sachs Bank Europe SE, Santander and Société Générale — then settled the underwriting against the issuer using a representation of central bank money, the central bank digital currency.

The transaction paves the way for future on chain derivative solutions, by using the first interest rate swap hedge represented through the industry developed common domain model (CDM).
The new digital bond is the first syndicated deal settled T+0 and the first cross-chain Delivery vs Payment (DVP) settlement using an experimental CBDC token.
The issuance is also the very first digital bond executed under the Luxembourg law.
Blockchain is a digital and distributed ledger of transactions using advanced cryptographic techniques and the contribution of a network of participants. The participants jointly validate the transactions in blocks in an ordered and fixed sequence (hence the name blockchain). This combination of features primarily aims to provide enhanced security and operational efficiency without resorting to a single registry to keep track of bondholders.

A pioneer in green and sustainable bonds, the EIB has been exploring the benefits of the digitalisation of capital markets to bring the benefits to market participants. In April 2021, the EIB issued its first digital bond. With its second fully digital bond, the EIB is continuing to lead the way for other market players to adopt blockchain technology. Unlike some cryptocurrencies using blockchain technology, the EIB’s blockchain bond issues do not lead to extensive energy use.
Ricardo Mourinho Félix
EIB Vice-President Ricardo Mourinho Félix said:
“Blockchain has the potential to disrupt a wide range of sectors. It plays a central role in the success of Europe’s green and digital transitions, and strengthens our technological sovereignty. Innovation is part of the EIB’s identity and issuing this fully digital bond is another important step in helping to develop a fully digital ecosystem.”
Mathew McDermott
Mathew McDermott, Global Head of Digital Assets at Goldman Sachs added:
“With this new digital bond, EIB is again showing its leadership in capital markets, pushing innovation further by pricing the first syndicated digital bond on a private permissioned chain and settling T+0 across two blockchain networks. The transaction also marks the launch of Goldman Sachs’ proprietary Tokenisation Platform – GS DAPTM ,and we are excited to take part in this initiative alongside EIB, Banque de France and the Banque centrale du Luxembourg.”


Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/eib-and-goldman-sachs-issue-first-euro-denominated-digital-bond-on-a-private-blockchain</link><guid>2988</guid><author>Administrator</author><dc:content /><dc:text>EIB and Goldman Sachs Issue First Euro-Denominated Digital Bond on a Private Blockchain</dc:text></item><item><title>SIX Fintech Ventures Joins Keyrock’s $72 Million Series B Fundraising</title><description><![CDATA[Keyrock, a Brussel based digital asset market maker, raised $72 million in its Series B funding round from investors including Ripple, SIX Fintech Ventures and Middlegame Ventures. Keyrock plans to use its funding to invest further into infrastructure development, scalability tools, as well as regulatory licensing across Europe, the US and Singapore.
Co-founded by Kevin de Patoul, CEO, Jeremy de Groodt, CTO and Juan David Mendieta, CSO, Keyrock was started to create accessible and more efficient capital markets by deploying proprietary and highly scalable market making technologies.
Kevin de Patoul
“In the last five years we have focused strongly on doing things with a long-term perspective and haven’t taken any shortcuts. Due to this focus, we now have a highly robust foundation. The new round of funding allows us to expand on that and dramatically accelerate executing our vision to provide liquidity solutions for all digital assets. By doubling down on our focus on clients and scalability, we will be looking to expand into new markets with targeted services.”
said Kevin de Patoul, CEO of Keyrock.
Since the launch of 2017, Keyrock has become a preferred global liquidity partner of over 85 trading venues both centralised and decentralised. In the past year, Keyrock has expanded into 200 unique new markets and has seen threefold growth in terms of trading volume while the overall market shrunk by 50%.
Andreas Iten
“We are proud to see how the Keyrock team advanced their business and successfully manoeuvred through very difficult market conditions. They showed incredible resilience and with the current founding round we believe Keyrock will establish itself as one of the top-tier liquidity solution providers for digital assets not only in Europe but globally.”
said Andreas Iten, Head SIX Fintech Ventures and CEO of F10.
Earlier this year, Keyrock doubled the size of the workforce globally to over 100 employees. They are looking to double this number again in the upcoming year despite a bear market and hiring freezes across the crypto space. Started in Brussels, Keyrock now has an office in the UK and is looking to expand to Switzerland and Singapore in early 2023.
]]></description><link>https://fintechnews.eu/six-fintech-ventures-joins-keyrocks-72-million-series-b-fundraising</link><guid>2989</guid><author>Administrator</author><dc:content /><dc:text>SIX Fintech Ventures Joins Keyrock’s $72 Million Series B Fundraising</dc:text></item><item><title>Mastercard &amp; Vesta Join Forces to Offer Enhanced Fraud Management Solutions</title><description><![CDATA[Mastercard and Vesta, an end-to-end fraud prevention platform for digital purchases, announced a new strategic partnership to provide a state-of-the-art fraud management platform for merchants across Latin America and the Caribbean. As the need and interest from consumers to shop online increases, merchants are challenged to verify identities and manage evolving fraud threats in real time.
Through this partnership, the organizations join forces to not only meet merchants’ security needs, but also address a broader effort to enhance the consumer ‘s digital experience and strengthen their trust in ecommerce.
The fraud management solutions resulting from this collaboration will unite resources from each organization. This includes Vesta’s real-time anomaly detection and response, extensive global consortium data and best-in-class machine learning decisioning tools with the added strategic capabilities of Mastercard Cyber and Intelligence solutions. Together, they will provide full protection, before, during, and after a transaction for Mastercard merchants and consumers worldwide.
Using the combination of the solutions and market expertise, the partnership will provide merchants 100% fraud chargeback protection and will also incorporate numerous transactional insights like payment risk scores and pre-emptive chargeback alerts.
Ron Hynes
“We are excited about this new partnership with Mastercard. Our combined ability to help digital merchants across the network positively impact revenues with zero risk decisioning in real time, is a game-changer,”
said Vesta CEO, Ron Hynes, adding,
“Too often merchants lose legitimate customers and revenue simply due to a lack of available information, insufficient analysis and overly strict fraud prevention, causing ecommerce retailers to decline good customer transactions, because of the fear of fraud.”
Jorge Arbesu
“Our partnership with Vesta is the next step in our journey to make the digital economy safer, more seamless and secure,”
said Jorge Arbesu, Senior Vice President, Partnerships, Cyber and Intelligence, Mastercard.
“Adding to our existing capabilities, this partnership simplifies risk management for merchants while offering a better consumer experience.”
The enhanced solution will be available to all markets across Latin America &amp; Caribbean starting Q1 2023.

This article first appeared on Fintechnews.America


Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/mastercard-vesta-join-forces-to-offer-enhanced-fraud-management-solutions</link><guid>2987</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/AM.png?x30842</dc:content ><dc:text>Mastercard &amp; Vesta Join Forces to Offer Enhanced Fraud Management Solutions</dc:text></item><item><title>The State of the German Blockchain Ecosystem</title><description><![CDATA[Despite a global venture capital (VC) pullback, shrinking valuations and public market turmoil, Germany’s blockchain VC funding market remained stable this year, with companies in the space securing a total of US$218 million across 20 deals year-to-date (YTD), just US$37 million short of 2021’s US$255 million, a new report by CV VC, a Swiss VC and private equity firm specialized in cryptocurrency and blockchain solutions, shows.
The German Blockchain Report, released last week, looks at the state of the German blockchain ecosystem, delving into the country’s burgeoning blockchain sector and exploring VC funding trends.
According to the report, Germany accounted for 6.2% of European blockchain funding and 1% of global blockchain funding. Decreasing blockchain funding in Germany is reflective of global trends observed this year where blockchain companies secured a total of US$21.7 billion, against US$26.2 billion in 2021.
Blockchain venture funding comparison YTD vs 2021, Source: German Blockchain Report, CV VC, Nov 2022
Despite a slight slowdown in blockchain venture funding activity, Germany maintained its leading position in Europe’s blockchain scene, the report says, and is home today to the largest number of blockchain companies across the whole European Union (EU).
Germany: an early blockchain supporter
Germany’s success as a blockchain hub has deep roots, dated back as early as 2015 when Berlin was the place to be for Ethereum developers.
In 2019, Germany formally showed its commitment to supporting the use of the technology, becoming the first country to adopt a national blockchain strategy. The strategy provides, among other things, guidelines for funding blockchain-related projects and considers various application areas, including financial services and digital identity.
Grasping the technology’s potential from the outset, German authorities have consistently worked towards legitimizing the digital asset landscape and integrating into the financial market.
In this regard, the German Federal Financial Supervisory Authority (BaFin) has played a critical role, introducing in 2020, an amendment to the German Banking Act that brought crypto assets in line with traditional securities, and establishing a new licensing requirements for custody services.
In June 2021, the Electronic Securities Act paved the way for the issuance of digital securities, and by December of the same year, the first e-securities were being issued as bearer bonds from DekaBank.
And in July 2021, Germany passed the Spezialfonds law, a groundbreaking legislation that allows German banks, insurers, and larger corporates to allocate up to 20% of their capital to crypto assets.
At the moment, several state-backed projects are in the works, including a national energy database to track power usage, a system for verifying educational qualifications, and a smart contract registry with the Deutsche Energie-Agentur, according to a report by the EU Blockchain Observatory and Forum released in August 2022.
The EU Blockchain Observatory and Forum, a European Commission initiative to accelerate blockchain innovation and adoption, estimates that Germany is currently home to more than 340 blockchain solution providers and startups, surpassing Estonia with 200+ but behind the UK with 1,000+. The country also has one of the largest pools of blockchain talent in the EU with 4,600 professionals.
German blockchain funding trends
A deeper look into blockchain funding activity in the first three quarters of 2022 reveals that infrastructure and development was the highest-funded segment, making up 55% of all blockchain funding of the period, followed by decentralized finance (DeFi) with a 27% share.
In terms of funding volume, infrastructure and development, and DeFi companies amassed a total of US$120 million and US$57.7 million, respectively.
German blockchain funding by industry in 2022, Source: German Blockchain Report, CV VC, Nov 2022
During the period studied, Worldcoin secured the largest round, closing a US$100 million funding round. Founded in 2019, Worldcoin is building a privacy-focused protocol called Privacy-Preserving Proof-of-Personhood Protocol (PPPoPP) focusing on global money transfers. Worldcoin is currently the first and only German crypto unicorn, worth an estimated US$3 billion, the report says.
After Worldcoin, Composable Finance raised the second largest round of the year, closing a US$32 million Series A in March. Composable Finance is a company that develops blockchain infrastructure and developer tools to address the issue of blockchain interoperability and to ease frictions in deploying decentralized applications (DApps).
At the third position is Soba, a web3 online multiplayer open world and gaming platform that secured US$13.5 million in June, followed by Unstoppable Finance, the owner of the Ultimate self-custody DeFi wallet which raised a US$12.8 million Series A in August, and Chainflip, a decentralized, trustless protocol that enables cross-chain swaps between different blockchains, which closed US$10 million in May.
The release of the German Blockchain Report came in tandem with the opening of the new location of CV Labs Berlin in November 2022, marking the accelerator fourth location after Zug, Vaduz and Cape Town. CV Labs is CV VC’s startup acceleration program.

Featured image credit: Edited from Freepik and Unsplash
]]></description><link>https://fintechnews.eu/the-state-of-the-german-blockchain-ecosystem</link><guid>2986</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/12/Blockchain-venture-funding-comparison-YTD-vs-2021-Source-German-Blockchain-Report-CV-VC-Nov-2022.png?x30842</dc:content ><dc:text>The State of the German Blockchain Ecosystem</dc:text></item><item><title>16 Banking, Insurance and Fintech Professionals Named Among 2022 Top B2B Marketing Influencers</title><description><![CDATA[CMO Huddles, a community of business-to-business (B2B) marketing leaders, have released its selection of this year’s top B2B marketing influencers.
The 101 Top B2B Marketing Influencers of 2022 list recognizes the best marketing leaders from around the world who didn’t just survive this year’s challenges and uncertainties, but also managed to thrive.
These CMOs operate across a wide range of industries, from enterprise software, cybersecurity and healthtech, to legal, human resources (HR), and finance.
In the fintech, banking and insurance sectors, 16 marketing leaders made it into the list. These executives, which represent companies like Emburse, Marqeta and Tap Payments, have proven track records in increasing revenues and building brand awareness, and are being recognized for their drive, leadership and expertise.
Marca Armstrong, CMO, Passport
Marca Armstrong, CMO, Passport, Photo via LinkedIn
Marca Armstrong is the CMO of Passport, a mobility software and payments fintech company. Passport’s mobility management platform helps cities manage parking and mobility infrastructure, creating more livable, equitable communities.
Armstrong creates strategies for both B2B and business-to-consumer (B2C) businesses that build brand awareness and transform the customer experience while driving incremental revenue and profits. She leverages a rare blend of expertise in core marketing functions and keen understanding of how marketing drives other parts of an organization to quickly map, define and determine what will move buyers through their journey from consideration to advocacy.
Lauren Boyman, CMO, KPMG US
Lauren Boyman, CMO, KPMG US, Photo via LinkedIn
Lauren Boyman is the CMO of KPMG US where she leads B2B marketing function transformation across the firm’s brand and demand generation programs, leveraging newly selected and implemented marketing technologies. She joined KPMG US in 2020 after spending more than a decade at Morgan Stanley.
Boyman is a results-oriented, data-driven marketing and business strategy leader, with a background in management consulting and CPG brand management. She has led successful change-oriented launches that turn vision into strategy and execution across brand, marketing, and digital to achieve high impact outcomes.
Carlos Carvajal, CMO, Q2
Carlos Carvajal, CMO, Q2, Photo via LinkedIn
Carlos Carvajal is the CMO of Q2, a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the US and internationally.
At Q2, Carvajal leads the company’s marketing vision, strategy, and initiatives to promote its brand and drive demand for Q2’s industry-leading digital banking and lending solutions. He’s also responsible for spreading the word about Q2’s people-first culture, unparalleled industry expertise, and the differentiated value and success Q2 delivers to customers.
Prior to joining Q2 in 2020, Carvajal spent over 20 years in transformational digital technology, working for companies like K2, a low-code automation solution leader, and Kony, now Temenos, a cloud-based provider of mobility, omnichannel, and Internet-of-Things (IoT) systems and services.
Joe Cohen, Chief Marketing and Communications Officer, AXIS Capital
Joe Cohen, Chief Marketing and Communications Officer, AXIS Capital, Image via LinkedIn
Joe Cohen is the chief marketing and communications officer of AXIS Capital, a provider of specialty lines insurance and reinsurance globally. At AXIS Capital, Cohen oversees enterprise-wide marketing and communications. He’s responsible for guiding corporate and brand reputation, marketing and advertising, digital marketing, financial communications, public relations (PR), and internal/change management communications.
Cohen is an internationally recognized marketing leader with a proven record of helping brands and organizations build relevance and drive business growth through B2C and B2B strategies on a global scale.
Jakki Geiger, CMO, Pyramid Analytics
Jakki Geiger, CMO, Pyramid Analytics, Photo via LinkedIn
Jakki Geiger is the CMO of Pyramid Analytics, a business intelligence software and data analytics company.
Geiger is a high-energy, growth-minded, customer-focused, and results-driven enterprise software-as-a-service (SaaS) global marketing executive. She has 20 years of experience building go-to-market strategies that drive rapid revenue growth, launched four venture-funded startups, built six new market categories and contributed to double digit growth for innovative enterprise software products at a mid-sized company.
Geiger is experienced in a variety of industries, including banking, financial services, insurance, healthcare, life science and e-commerce.
Danielle Gotkis, SVP Global Marketing, Pecan AI
Danielle Gotkis, SVP Global Marketing, Pecan AI, Photo via LinkedIn
Danielle Gotkis is the senior vice president of global marketing of Pecan AI, a predictive analytics platform helping business intelligence, operations, and revenue teams predict mission-critical outcomes.
She is a dynamic global marketing executive and commercially astute leader with 15 years of experience in laying the foundations of and scaling SaaS, artificial intelligence (AI) and fintech companies like Recurly, dLocal, Feedzai, PayNearMe, and others.
Gotkis enjoys developing holistic brand and demand generation strategies, applying creativity and analytical acumen, building and coaching teams, solving scale-up challenges, expanding into new markets, orchestrating impactful thought leadership programs, leading successful product launches, and forming lasting partnerships with Fortune 500 giants, global banks, national retails, telcos, and government agencies.
Charles Groome, VP of Marketing, Biz2Credit
Charles Groome, VP of Marketing, Biz2Credit, Photo via LinkedIn
Charles Groome is the vice president of marketing of Biz2Credit, a fast-growing fintech company specializing in small business loans. At Biz2Credit, Groome leads digital and traditional marketing programs for both of the company’s business units: small business funding (Biz2Credit) and enterprise banking software (Biz2X). He’s responsible for cross-functional initiatives that span branding, web design and user experience (UX), digital advertising, sales enablement, traditional advertising and internal communications.
Groome is an entrepreneurial-minded leader in marketing and advertising. He has a strong track record of generating web leads and sales opportunities in the SaaS, martech and fintech industries.
Deidre Hudson, CMO, Payability
Deidre Hudson, CMO, Payability, Photo via LinkedIn
Deidre Hudson is the CMO of Payability, a financing company that provides Amazon sellers and ecommerce sellers with daily cash flow, capital advances and the Payability Seller Card. At Payability, she is responsible for driving new customer acquisition and expanding the Payability brand.
Hudson has over 20 years of experience in the B2B, SaaS, and fintech industries, and has worked with some of the best-known global brands including Gartner, Tata Consultancy, Wolters Kluwer, Broadridge, 1010data, RCN and GrubHub. She’s skilled in demand generation, ABM, storytelling, and pipeline acceleration.
Grant Johnson, CMO, Emburse
Grant Johnson, CMO, Emburse, Photo via LinkedIn
Grant Johnson is the CMO of Emburse, a global leader in expense management, accounts payable and payments solutions. At Emburse, Johnson leads global marketing, overseeing marketing strategies, programs and tactics designed to increase market leadership, generate demand and enhance customer advocacy.
Grant has a storied history working in senior marketing roles for some of the best-known brands in technology, including FileNet/IBM, Symantec and Toshiba. Before joining Emburse, Grant was CMO of cybersecurity company Cylance (acquired by BlackBerry). Prior to that, he was the CMO of Kofax and CMO of Pegasystems.
Shirley Macbeth, CMO, Forrester
Shirley Macbeth, CMO, Forrester, Photo via LinkedIn
Shirley Macbeth is the CMO of Forrester, a leading global market research company, where she is responsible for elevating the company’s thought leadership profile and generating demand for its portfolio of research, consulting, and events.
A senior B2B marketing executive, Macbeth has 25+ years of experience with a proven track record in increasing revenues and building brand awareness for global B2B companies. Prior to Forrester, Shirley served as senior vice president, corporate marketing for ACI Worldwide, a global payments software leader; vice president of marketing for Yankee Group Research; and senior director of marketing for enterprise software giant Sybase (now part of SAP).
Alexandria McCarthy, CMO, Skience
Alexandria McCarthy, CMO, Skience, Image via LinkedIn
Alexandria McCarthy is the CMO of Skience, a wealth management platform. At Skience, McCarthy leads the development of the strategic marketing and communication plan for the company. She is responsible for the daily demands of driving brand reputation and business growth along with defining a long-term vision for modernizing marketing and communications.
McCarthy is a results-oriented marketing and communications executive with more than two decades of distinguished performance in the financial services industry.
Prior to Skience, she was head of practice management for Orion after the acquisition of Brinker Capital where she was CMO at Brinker Capital Investments. In prior years, she served as an officer at The Guardian Life Insurance Company and RS Investments.
Peter Neiman, CMO, Amalgamated Bank
Peter Neiman, CMO, Amalgamated Bank, Image via Amalgamated Bank
Peter Neiman is the CMO of Amalgamated Bank, which he joined in 2016. Neiman has a track record of driving transformational marketing and corporate social responsibility (CSR) strategy, having helped reposition Amalgamated Bank as America’s socially responsible bank and as the leader in six segments including unions, progressive political organizations, non-profits, foundations, sustainable businesses and human needs organizations.
Prior to that, Neiman spent nine years leading the repositioning of Unum’s insurance brands in both the US and the UK. Before that, he was a senior vice president at a number of large New York City advertising agencies including, Grey, JWT, Ogilvy and Bozell.
Over his career, he has created integrated marketing campaigns for thirty-five companies including financial industry giants Bank of America, Merrill Lynch, NASDAQ and Commerce Bank.
Martin O’Leary, Group Head Of Marketing, Tap Payments
Martin O’Leary, Group Head Of Marketing, Tap Payments, Image via LinkedIn
Martin O’Leary is the group head of marketing of Tap Payments, one of the fastest-growing payment technology and fintech providers in the Middle East and North African (MENA) region.
O’Leary is an experienced international marketer working across Europe and the Middle East and has over 15 years of experience in digital banking, fintech, and online payments. He combines digital strategy, marketing technology and data analytics to create differentiated customer experiences that drive commercial growth and retention.
Jeff Otto, VP, Marketing, Marqeta
Jeff Otto, VP, Marketing, Marqeta, Image via LinkedIn
Jeff Otto is the vice president of marketing of Marqeta, a company providing an open API platform for other businesses to create, issue, and deploy virtual and physical payment cards.
His teams at Marqeta cover the spectrum of marketing functions across earned, paid, and owned media. They inspire and guide today’s innovators toward new, delightful payment experiences with the world’s leading modern card Issuing platform.
Ellyn Raftery, Chief Marketing and Communications Officer, FIS
Ellyn Raftery, Chief Marketing and Communications Officer, FIS, Image via LinkedIn
Ellyn Raftery is the chief marketing and communications officer of FIS, a Fortune 500 company and leading provider of fintech solutions for merchants, banks and capital markets firms globally. In this role, she is in charge with leading the strategic planning and execution of FIS’ global marketing and corporate communications programs as well as enterprise commercialization.
Raftery has more than 20 years of senior executive experience, focusing on developing integrated marketing strategies for Fortune 500 companies across a range of channels, industries and geographies and combining strategic business development and creative expertise to build global brands and increase sales.
Prior to FIS, she worked for CA Technologies, Unisys Corporation, and Ernst and Young.
Gary Sevounts, CMO, Malwarebytes
Gary Sevounts, CMO, Malwarebytes, Image via LinkedIn
Gary Sevounts is the CMO of Malwarebytes, an anti-malware software. Sevounts is a full-stack growth CMO with a proven track record in building and scaling high-impact marketing teams and engines in venture capital-funded, private equity-owned, and public companies. His recent awards include the 2021 CMO of The Year in the KYC and Compliance Space and the 2018 Top 35 Marketing Executives by Wall Street.
Prior to joining Malwarebytes, Sevounts worked for Socure, a leading provider of digital identity verification and fraud solutions; Kount, a fraud prevention and Equifax company; Aryaka Networks, a company that provides wide-area software-defined network connectivity and application delivery; and Zetta, a company specializing in cloud-based backup and disaster recovery for small and mid-sized businesses, enterprises, and managed service providers (MSPs).
]]></description><link>https://fintechnews.eu/16-banking-insurance-and-fintech-professionals-named-among-2022-top-b2b-marketing-influencers</link><guid>2985</guid><author>Administrator</author><dc:content /><dc:text>16 Banking, Insurance and Fintech Professionals Named Among 2022 Top B2B Marketing Influencers</dc:text></item><item><title>Interest in Media for Equity on the Rise</title><description><![CDATA[Media for equity, a financing option that provides advertising in return for equity in a company, is proliferating at an increasing rate, recognized by startups as a powerful engine for sustainable growth.
Also known as media for growth or airtime for equity, media for equity is an alternative investment model where companies are trading equities to media conglomerates in exchange for advertising such as television, print, radio, and online. The model promises to deliver a number of benefits for startups, including increased brand awareness, access to customer data, customer growth, and guidance from large media groups.
Media for equity has been in the market since the ‘90s but has only gained popularity in the 2000s, especially in the British, Nordic and German space. The model has been adopted by a number of successful startups including Zalando, an online retailer that went public in 2014 at a US$6.8 billion valuation, and About You, another fashion online retailer which reached unicorn status in 2018 after securing US$300 million in funding.
A new report by Mediaforgrowth, a startup that operates in network connecting industry stakeholders, gives a comprehensive overview of the media for equity ecosystem, sharing funding trends observed over the past years.
According to the report, interest in media for equity has picked up significantly over the past decade with over 1,000 startups having embraced the model so far. While ten years ago, there were just a few media for equity funds, there are now more than 30, showcasing increased interest in the investment model.
The evolution of media for growth funds, Source: The State of Global Media for Growth Funding, Mediaforgrowth, 2022
A deep analysis of companies that have engaged in media for equity reveals that fintech, e-commerce, digital health, food and beverage are the top five industries that are leveraging the alternative models. 31% of these companies operate on either a business-to-business (B2B) or a business-to-business-to-consumer (B2B2C) model.
Delving at funding and exit trends, the research found that startups backed by media, on average, raised more funding than their counterparts, and exited in a shorter time-span.
On average, startups that are supported by media secure three times more funding than other startups, the report says. Also, those that are backed by both media and venture capital (VC) investors reach the exit round via an initial public offering (IPO) 32 months faster. Citing Pitchbook data, the report notes that the industry average for a traditional investment to exit is about 8.2 years, against 5 years and six months for media for equity-backed startups.
Looking at regional trends, the research found that Swedish and Indian companies have been the biggest adopters of the investment model, having each recorded more than 160 deals.
Media for growth investments around the world, Source: The State of Global Media for Growth Funding, Mediaforgrowth, 2022
In India, the Times Group, the country’s largest media group, has completed a record of 900+ investments. The group started looking outside of India three years ago, and through its VC arm, Brand Capital International, has invested more than US$4 billion worth of media across a wide range of sectors including fintech, edtech, healthtech, retail and consumer durables, the report says.
The fund, which targets international brands looking to grow revenue and brand equity in India, counts in its portfolio the likes of Fintech.TV, a media platform specializing in fintech, blockchain and technology, OneValley, a premium global innovation hub for startups, corporations and individuals, and Deskera, a cloud-based business software provider of integrated business-applications-as-a-service
In Europe, SevenVentures, the corporate venture arm of German media and digital entertainment provider ProSiebenSat.1, has been a prolific media for equity investor. The firm, which provides the startups it backs with cash and media investments as well as operational support, invests in business-to-consumer (B2C) organizations across various industries.
Fintech companies currently in SevenVentures’ portfolio include Bonify, a Berlin startup providing a personal financial management platform, Ottonova, a digital health insurance provider, and Friday, a licensed digital insurer operating in the German and French markets.
Past fintech investments include Auxmoney, digital lending platform for consumer credit, Ayondo, a provider of trading services, and Creditweb, one of the largest providers of retail mortgage financing in Germany.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/interest-in-media-for-equity-on-the-rise</link><guid>2984</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/The-evolution-of-media-for-growth-funds-Source-The-State-of-Global-Media-for-Growth-Funding-Mediaforgrowth-2022.png?x30842</dc:content ><dc:text>Interest in Media for Equity on the Rise</dc:text></item><item><title>A.P. Moller – Maersk and IBM to Discontinue Blockchain Trade Platform Tradelens</title><description><![CDATA[A.P. Moller – Maersk  and IBM announced the decision to withdraw the TradeLens offerings and discontinue the platform.
Starting immediately, the TradeLens team is taking action to withdraw the offerings and discontinue the platform, and the intent is that the platform will go offline by end of quarter one, 2023. During this process all parties involved will ensure that customers are attended to without disruptions to their businesses.
Maersk will continue its efforts to digitise the supply chain and increase industry innovation through other solutions to reduce trade friction and promote more global trade.
Rotem Hershko
“We are deeply grateful for the relentless efforts of our committed industry members and many tech talents, who together have worked diligently to advance the digitalisation of the industry through the TradeLens platform. We will leverage the work of TradeLens as a steppingstone to further push our digitisation agenda and look forward to harnessing the energy and ability of our technology talent in new ways,”
said Rotem Hershko.
The TradeLens platform was announced in 2018 and jointly developed by IBM and GTD Solution, a division of Maersk, as a blockchain-enabled shipping solution designed to promote more efficient and secure global trade.

This article first appeared on fintechnordics.com

]]></description><link>https://fintechnews.eu/ap-moller-maersk-and-ibm-to-discontinue-blockchain-trade-platform-tradelens</link><guid>2982</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/Check-out-Fintech-News-Nordics.png?x30842</dc:content ><dc:text>A.P. Moller – Maersk and IBM to Discontinue Blockchain Trade Platform Tradelens</dc:text></item><item><title>Swiss Digital Bank Alpian Ramps up Athlete Endorsement Push to Appeal to the Mass Affluent</title><description><![CDATA[Swiss digital bank Alpian has announced the appointment of Sébastien Buemi as honorary “chief inspiration officer,” adding the Swiss professional racing driver to its list of existing brand ambassadors, among which tennis world champion Belinda Bencic and freestyle snowboarder and base jumper Géraldine Fasnacht, Alpian said on November 25, 2022.
Buemi will be in charge of promoting and actively shaping Alpian’s corporate culture. He will participate in the bank’s collaborative projects involving Bencic and Fasnacht, the previously appointed honorary chief inspiration officers of Alpian, and will also contribute to the bank’s educational platform, i-vest.ch, with content on risk-taking, career management, entrepreneurship and financial empowerment, the bank said.
Alpian will be launching the so-called Performance Improvement Program next year, for which Buemi will be tasked to with discovering, promoting and mentoring young talents through Switzerland, it added.
Sébastien Buemi (left) and Schuyler Weiss, CEO of Alpian (right), Source: Buemi.ch
Athlete endorsement is a marketing promotional strategy that is frequently used by companies to reach a wider target audience, create brand awareness and increase public image.
There are many benefits of having an athlete as an endorser rather than another celebrity such as a singer or an actor. For one, professional athletes tend to appeal to wider audiences because sports are able to unite even the most different of people.
Athletes also represent achievement and typically have a large following of fans who watch what they do, listen to, and buy. Having an athlete that has social media channels of millions of people means that brands can leverage an already established target audience and can have their products seen as of higher quality.
Buemi is a Swiss professional racing driver, three-time WEC and one-time Formula E World Champion. He is also a four-time Le Mans 24 Hours winner. Buemi currently competes in the FIA WEC and Formula E championships, while also being a test driver for the Red Bull F1 team. He was recently inducted into the prestigious Le Mans 24 Hours Hall of Fame.
In terms of social media following, Buemi has nearly 100k followers on Instagram, more than 126k on Twitter, and over 123k on Facebook.
The appointment of Buemi as Alpian’s new brand ambassador comes on the heels of the rollout of Alpian’s digital private banking offering. The company, which received its banking license from the Swiss Financial Market Supervisory Authority (FINMA) in April, launched to the general public of Switzerland on October 11, becoming, what it claims to be, “Switzerland’s first FINMA-licensed digital private bank.”
Alpian targets the mass affluent client segment, the bank says, and strives to deliver a fully comprehensive digital private banking offering. It currently provides customers with everyday banking services including payment capabilities, foreign exchange (FX), cash withdrawals and a metal debit card. More services will be rolled out in the coming months.
Alpian says its key differentiators include its highly personalized services, a competitive management fee of 0.75%, and most particularly, its singular hybrid model that combines a secure, state-of-the-art banking platform with the support of experienced wealth advisors whom clients are able to conveniently schedule in-app video calls with right from the app.
Founded in 2019, Alpian is a Swiss financial services firm that aims to build an all-in-one banking app combining everyday banking services, personal wealth management, and tailored investment products. The company, which is based in Geneva, has secured CHF 48.1 million in funding, its latest round being a CHF 19 million Series B+ closed in April.
Switzerland’s banking sector has evolved significantly over the past few years as new players entered the market with innovative digital products. FlowBank, for example, is a new Swiss digital finance service launched publicly in late 2020 that’s both a bank and a full-fledged broker. Neon is a neobanking platform that’s partnered with Hypothekarbank Lenzburg. Seba and Sygnum are two new banks focused on cryptocurrencies and other blockchain-based digital assets. And Yapeal, SR Saphirstein’s Fiat24, Klarpay and Swiss4.0 are the four entities to have been granted a fintech license, a regime introduced in 2020 that enables fintech companies to carry out certain activities within an appropriate regulatory framework without the need for a costly and complex banking or other applicable licenses.
]]></description><link>https://fintechnews.eu/swiss-digital-bank-alpian-ramps-up-athlete-endorsement-push-to-appeal-to-the-mass-affluent</link><guid>2981</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Sebastien-Buemi-left-and-Schuyler-Weiss-CEO-of-Alpian-right-Source-Buemi.ch_.jpeg?x30842</dc:content ><dc:text>Swiss Digital Bank Alpian Ramps up Athlete Endorsement Push to Appeal to the Mass Affluent</dc:text></item><item><title>Swiss Digital Bank Alpian Ramps up Athlete Endorsements to Appeal to the Mass Affluent</title><description><![CDATA[Swiss digital bank Alpian has announced the appointment of Sébastien Buemi as honorary “chief inspiration officer,” adding the Swiss professional racing driver to its list of existing brand ambassadors, among which tennis world champion Belinda Bencic and freestyle snowboarder and base jumper Géraldine Fasnacht, Alpian said on November 25, 2022.
Buemi will be in charge of promoting and actively shaping Alpian’s corporate culture. He will participate in the bank’s collaborative projects involving Bencic and Fasnacht, the previously appointed honorary chief inspiration officers of Alpian, and will also contribute to the bank’s educational platform, i-vest.ch, with content on risk-taking, career management, entrepreneurship and financial empowerment, the bank said.
Alpian will be launching the so-called Performance Improvement Program next year, for which Buemi will be tasked to with discovering, promoting and mentoring young talents through Switzerland, it added.
Sébastien Buemi (left) and Schuyler Weiss, CEO of Alpian (right), Source: Buemi.ch
Athlete endorsement is a marketing promotional strategy that is frequently used by companies to reach a wider target audience, create brand awareness and increase public image.
There are many benefits of having an athlete as an endorser rather than another celebrity such as a singer or an actor. For one, professional athletes tend to appeal to wider audiences because sports are able to unite even the most different of people.
Athletes also represent achievement and typically have a large following of fans who watch what they do, listen to, and buy. Having an athlete that has social media channels of millions of people means that brands can leverage an already established target audience and can have their products seen as of higher quality.
Buemi is a Swiss professional racing driver, three-time WEC and one-time Formula E World Champion. He is also a four-time Le Mans 24 Hours winner. Buemi currently competes in the FIA WEC and Formula E championships, while also being a test driver for the Red Bull F1 team. He was recently inducted into the prestigious Le Mans 24 Hours Hall of Fame.
In terms of social media following, Buemi has nearly 100k followers on Instagram, more than 126k on Twitter, and over 123k on Facebook.
The appointment of Buemi as Alpian’s new brand ambassador comes on the heels of the rollout of Alpian’s digital private banking offering. The company, which received its banking license from the Swiss Financial Market Supervisory Authority (FINMA) in April, launched to the general public of Switzerland on October 11, becoming, what it claims to be, “Switzerland’s first FINMA-licensed digital private bank.”
Alpian targets the mass affluent client segment, the bank says, and strives to deliver a fully comprehensive digital private banking offering. It currently provides customers with everyday banking services including payment capabilities, foreign exchange (FX), cash withdrawals and a metal debit card. More services will be rolled out in the coming months.
Alpian says its key differentiators include its highly personalized services, a competitive management fee of 0.75%, and most particularly, its singular hybrid model that combines a secure, state-of-the-art banking platform with the support of experienced wealth advisors whom clients are able to conveniently schedule in-app video calls with right from the app.
Founded in 2019, Alpian is a Swiss financial services firm that aims to build an all-in-one banking app combining everyday banking services, personal wealth management, and tailored investment products. The company, which is based in Geneva, has secured CHF 48.1 million in funding, its latest round being a CHF 19 million Series B+ closed in April.
Switzerland’s banking sector has evolved significantly over the past few years as new players entered the market with innovative digital products. FlowBank, for example, is a new Swiss digital finance service launched publicly in late 2020 that’s both a bank and a full-fledged broker. Neon is a neobanking platform that’s partnered with Hypothekarbank Lenzburg. Seba and Sygnum are two new banks focused on cryptocurrencies and other blockchain-based digital assets. And Yapeal, SR Saphirstein’s Fiat24, Klarpay and Swiss4.0 are the four entities to have been granted a fintech license, a regime introduced in 2020 that enables fintech companies to carry out certain activities within an appropriate regulatory framework without the need for a costly and complex banking or other applicable licenses.
]]></description><link>https://fintechnews.eu/swiss-digital-bank-alpian-ramps-up-athlete-endorsements-to-appeal-to-the-mass-affluent</link><guid>2983</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Sebastien-Buemi-left-and-Schuyler-Weiss-CEO-of-Alpian-right-Source-Buemi.ch_.jpeg?x30842</dc:content ><dc:text>Swiss Digital Bank Alpian Ramps up Athlete Endorsements to Appeal to the Mass Affluent</dc:text></item><item><title>Alpian ernennt Sébastien Buemi zum dritten ehrenamtlichen Chief Inspiration Officer</title><description><![CDATA[Nachdem Alpian im Oktober 2022 offiziell als erste digitale Privatbank der Schweiz an den Start ging, gibt das Unternehmen heute die Ernennung von Rennfahrer-Champion Sébastien Buemi zum neuen ehrenamtlichen Chief Inspiration Officer bekannt. Er wird neben der Tennisweltmeisterin Belinda Bencic und der Freestyle-Snowboarderin und Base-Jumperin Géraldine Fasnacht zu den Markenbotschafter von Alpian gehören, die die Unternehmenskultur von Alpian fördern und aktiv mitgestalten.
Schuyler Weiss
Schuyler Weiss, CEO von Alpian, sagt:
“Wir sind sehr stolz darauf, Sébastien Buemi in unser Markenbotschafter-Programm aufzunehmen. Diese Partnerschaft ist für mich von besonderer Bedeutung. Er ist nicht nur eine echte Inspiration aufgrund seiner Karriere und seiner Führungsqualitäten, sondern lassen sich meiner Meinung nach auch viele Parallelen zwischen dem Autorennsport und Alpian erkennen. So wie die Formel E die Innovation und den Wandel im Motorsport vorantreibt, hat Alpian den Ehrgeiz, Innovation zu schaffen und schliesslich die Bankenbranche zu verändern.”
Sébastien Buemi ist nicht nur Markenbotschafter, sondern wird auch an den Kooperationsprojekten der Bank teilnehmen, an denen die beiden zuvor ernannten ehrenamtlichen Chief Inspiration Officers, Belinda Bencic und Géraldine Fasnacht, beteiligt sind. Der Schweizer Rennfahrer-Champion wird aktiv zu Alpians Bildungsplattform i-vest.ch – die zur Entmystifizierung von Investitionen, Vermögen und finanziellem Wohlbefinden geschaffen wurde – beitragen und dabei verschiedene Themen wie Risikobereitschaft, Karrieremanagement, Unternehmertum und finanzielle Selbstbestimmung aufgreifen.
Der neu ernannte Botschafter, der Alpians Philosophie “Wealth beyond money” mitträgt und als Inspirationsfigur fungiert, soll junge Talente in der ganzen Schweiz im Rahmen des Leistungssteigerungsprogramms der Bank, das 2023 starten soll, entdecken, fördern und betreuen.
Roman Balzan, Chief Marketing Officer von Alpian, fügt hinzu:
“Mit Sébastien Buemi ergänzen wir unsere Auswahl an Botschaftern um eine weitere Führungspersönlichkeit von Weltrang, die uns auf unserem Weg begleitet. Unser Botschafterprogramm zielt darauf ab, erfolgreiche und inspirierende Karrieren zu fördern, um Menschen in ihrer finanziellen Selbstbestimmung zu unterstützen. Ich bin sicher, dass sein Beitrag zu i-vest aufschlussreich und einzigartig sein wird.”
Sébastien Buemi
Sébastien Buemi, ehrenamtlicher Chief Inspiration Officer von Alpian, sagt:
“Ich fühle mich ausserordentlich geehrt, Teil der Alpian-Familie und eines so innovativen Projekts zu sein. Der technologische Fortschritt durchdringt alle Bereiche unseres Lebens – sei es der Rennsport, die Art und Weise, wie wir bezahlen oder unsere Beziehung zum Bankpartner unseres Vertrauens. Als die Formel E ins Leben gerufen wurde, war ich von Anfang an dabei. Umso mehr freue ich mich, erneut Teil eines ambitionierten Projekts wie Alpian zu sein, das sich noch in einer frühen Phase befindet und von dem ich überzeugt bin, dass es ein echtes Bedürfnis adressiert.”
Sébastien Buemi ist ein Schweizer Profirennfahrer, dreimaliger WEC- und einmaliger Formel-E-Weltmeister. Er ist ausserdem 4-facher Gewinner des 24-Stunden-Rennens von Le Mans. Derzeit nimmt er an der FIA WEC- und der Formel-E-Meisterschaft teil und ist gleichzeitig Testfahrer für das F1-Team von Red Bull. Vor kurzem wurde er in die prestigeträchtige Hall of Fame des 24-Stunden- Rennens von Le Mans aufgenommen.
Er wurde am 29. November 2022 im Rahmen eines exklusiven Afterwork-Events im Startup Space Schlieren in Zürich offiziell als dritter Chief Inspiration Officer von Alpian vorgestellt.
]]></description><link>https://fintechnews.eu/alpian-ernennt-sebastien-buemi-zum-dritten-ehrenamtlichen-chief-inspiration-officer</link><guid>2978</guid><author>Administrator</author><dc:content /><dc:text>Alpian ernennt Sébastien Buemi zum dritten ehrenamtlichen Chief Inspiration Officer</dc:text></item><item><title>France, Luxembourg and EIB Conduct Joint Wholesale CBDC Experiment</title><description><![CDATA[The Banque de France, Banque centrale du Luxembourg and European Investment Bank (EIB) successfully conducted a wholesale central bank digital currency (CBDC) experiment.
The experiment, known as the Venus initiative, involved a 100 million euro digital native bond issuance by the EIB under Luxembourg law, and settled using a tokenised representation of the euro.
The experimental CBDC tokens were issued on a distinct permissioned distributed ledger technology (DLT) jointly operated by the Banque de France and the Banque centrale du Luxembourg.
The initiative also involved a message exchange mechanism between DLTs to allow for the simultaneous experimental CBDC tokens transfer and digital native bond delivery the very same day of the issuance.
Goldman Sachs Bank Europe, Santander and Société Générale were appointed by the EIB as banking syndication to issue and distribute the digital native bonds.
Nathalie Aufauvre
“The Venus initiative confirms that a well-designed CBDC can play a critical role in the development of a safe tokenised financial asset space in Europe,”
said Nathalie Aufauvre, General Director of Financial Stability and Operations, Banque de France.
Nicolas Weber
“The Banque de France and the Banque centrale du Luxembourg are proposing one possible cross-border answer to the growing interest from the market to perform digital native securities settlement with a central bank money token,”
said Nicolas Weber, Executive Director of Payment Systems, Banque centrale du Luxembourg.
]]></description><link>https://fintechnews.eu/france-luxembourg-and-eib-conduct-joint-wholesale-cbdc-experiment</link><guid>2979</guid><author>Administrator</author><dc:content /><dc:text>France, Luxembourg and EIB Conduct Joint Wholesale CBDC Experiment</dc:text></item><item><title>Conferma Pay, Sabre and Mastercard Issue B2B Virtual Travel Payment Cards</title><description><![CDATA[UK virtual corporate card provider Conferma Pay and US travel tech company Sabre have partnered with Mastercard to issue virtual cards for B2B travel payments.
The solution involves generating single use card numbers to enable travel buyers and suppliers to track and reconcile payments, as well as benefit from other card payment benefits.
As part of the agreement, Mastercard will make a minority investment in Conferma Pay, which will continue to operate independently. The company was acquired by Sabre in August 2022.
Founded in 2005, Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies.
Roshan Mendis
“The new partnership with Mastercard will help Conferma Pay build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers,”
said Roshan Mendis, Executive Vice President and Chief Commercial Officer at Sabre Travel Solutions.
Chris Fendley
“Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organisations across the travel value chain to run, grow and protect their business,”
said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard.
]]></description><link>https://fintechnews.eu/conferma-pay-sabre-and-mastercard-issue-b2b-virtual-travel-payment-cards</link><guid>2980</guid><author>Administrator</author><dc:content /><dc:text>Conferma Pay, Sabre and Mastercard Issue B2B Virtual Travel Payment Cards</dc:text></item><item><title>Belgium’s OpenWay Launches Card-as-a-Service Platform</title><description><![CDATA[Belgian payment processing company OpenWay has added card issuing software to its Way4 digital payments platform covering credit, debit, corporate, fleet, instalment, prepaid, loyalty, and gift cards.
The new “card-as-a-service” software includes features such as carbon footprint trackers for each cardholder, virtual cards via mobile apps, paperless ATM receipts, and more.
OpenWay’s Way4 platform also supports buy now pay later (BNPL) scenarios alongside standard product configurations, business requirements, and implementation manuals.
Headquartered in Mont-Saint-Guibert, Belgium, OpenWay serves clients in 83 countries through Way4, its flagship digital banking and payment software platform.
Pavel Gubin
“OpenWay helps digital banks, EMIs, retailers, fleet companies, fintechs and other non-traditional issuers comply with social, environmental, and governmental frameworks by providing multiple innovative services via more than 1,000 APIs,”
said Pavel Gubin, CEO of OpenWay.
]]></description><link>https://fintechnews.eu/belgiums-openway-launches-card-as-a-service-platform</link><guid>2974</guid><author>Administrator</author><dc:content /><dc:text>Belgium’s OpenWay Launches Card-as-a-Service Platform</dc:text></item><item><title>UBS Chooses Regula’s Identity Verification Solutions to Automate Onboarding</title><description><![CDATA[UBS has partnered with Latvian identity verification company Regula to create a fully automated and 24/7 account opening process for new customers.
Instead of real-time video interviews, which were previously required by UBS to verify new customers, the enrollment process now takes just a few minutes on the UBS Mobile Banking app.
Using Regula’s identity verification solutions, UBS can recognise and authenticate documents and compare document portraits with users’ selfies to verify their identities.
UBS, which also partnered with iProov, is said to be the first bank in Switzerland to enable automatic identity verification and electronic signature creation for opening bank accounts.
Regula is an established developer of forensic devices and identity verification solutions headquartered in Daugavpils, Latvia. The company also has offices in the US, UK, Germany, Poland and Brazil.
]]></description><link>https://fintechnews.eu/ubs-chooses-regulas-identity-verification-solutions-to-automate-onboarding</link><guid>2975</guid><author>Administrator</author><dc:content /><dc:text>UBS Chooses Regula’s Identity Verification Solutions to Automate Onboarding</dc:text></item><item><title>BVNK Acquires System Pay Services to Provide Licensed E-Money Services</title><description><![CDATA[UK crypto payments platform BVNK has acquired payments company System Pay Services for its Electronic Money Institution (EMI) license after receiving Financial Conduct Authority (FCA) approval.
The EMI license enables BVNK to broaden its product offering to include e-money services, e-wallets, and multi-currency accounts for merchants to make, receive, and process payments.
BVNK’s platform currently allows customers to send and receive payments on all major schemes and blockchain networks, incorporate stablecoins for payments, and settle funds from over 30 markets.
Founded in 2021, BVNK closed a US$40 million Series A funding round led by Tiger Global in May 2022. The company also received a Virtual Asset Services Provider license in Spain in October 2022.
Jesse Hemson-Struthers
“As a UK EMI licensed operator, BVNK will be able to serve leading global businesses who require partners to be regulated and enterprise compliant,”
said Jesse Hemson-Struthers, CEO of BVNK.
]]></description><link>https://fintechnews.eu/bvnk-acquires-system-pay-services-to-provide-licensed-e-money-services</link><guid>2976</guid><author>Administrator</author><dc:content /><dc:text>BVNK Acquires System Pay Services to Provide Licensed E-Money Services</dc:text></item><item><title>wefox Appoints Zalando’s Laura Eschricht as Chief Marketing Officer</title><description><![CDATA[German insurtech platform wefox has appointed Laura Eschricht as its new Chief Marketing Officer, effective immediately. She joins wefox from German ecommerce retailer Zalando.
Eschricht is a seasoned marketing professional with over 15 years of global experience. Prior to Zalando, she headed marketing at US hair care brands amika and Moroccanoil.
Founded in 2015 and headquartered in Berlin, wefox last closed a US$400 million Series D funding round in July 2022 and a US$650 million Series C funding round in June 2021.
The company says that it has doubled its revenues every year since launching to reach US$300 million in 2021, serving 1.5 million customers across Austria, Germany, Italy, Poland and Switzerland.
Eschricht joins wefox’s 1,600 employees including Chief Insurance Officer Peter Huber and Chief Operating Officer David Stachon.
Julian Teicke
“It’s a real pleasure to welcome Laura to the wefox team as CMO. She joins us at an exciting time as we continue to deploy our strategy to grow our business and keep more people safe,”
said Julian Teicke, CEO and Founder, wefox.
Laura Eschricht
“I want wefox to become a household name in the global insurance industry. I want wefox to stand for competence, trust and simplicity in the minds of the people we keep safe and, I want to be the most trusted partner for our brokers,”
said Laura Eschricht, Chief Marketing Officer, wefox.
]]></description><link>https://fintechnews.eu/wefox-appoints-zalandos-laura-eschricht-as-chief-marketing-officer</link><guid>2977</guid><author>Administrator</author><dc:content /><dc:text>wefox Appoints Zalando’s Laura Eschricht as Chief Marketing Officer</dc:text></item><item><title>BlockFi Files for Bankruptcy Due to Exposure to FTX</title><description><![CDATA[Crypto lender BlockFi has filed for Chapter 11 bankruptcy protection citing a liquidity crisis due to substantial exposure to recently bankrupt crypto exchange FTX.
BlockFi says that it is exposed to FTX via loans to Alameda, a crypto trading firm affiliated with FTX, as well as cryptocurrencies held on FTX’s platform.
The firm listed its assets and liabilities as being between US$1 billion and US$10 billion. The company has US$256.9 million in cash on hand to support certain operations during the restructuring process.
Founded in 2017, BlockFi is described as a blockchain-based wealth management platform for crypto investors. Activity on the platform is currently paused.
The company has raised US$1.4 billion in funding to date according to Crunchbase, including US$400 million in debt financing from FTX in mid-2022 and US$850 million in two funding rounds in 2021.
Mark Renzi
“With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the company.

BlockFi looks forward to a transparent process that achieves the best outcome for all clients and other stakeholders,”
said Mark Renzi of Berkeley Research Group, BlockFi’s financial advisor.
This article first appeared on Fintech News America.

]]></description><link>https://fintechnews.eu/blockfi-files-for-bankruptcy-due-to-exposure-to-ftx</link><guid>2973</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>BlockFi Files for Bankruptcy Due to Exposure to FTX</dc:text></item><item><title>Quid Launches Multi-Currency Wallet for SMEs With Visa’s Currencycloud</title><description><![CDATA[UK business banking platform Quid Global and cross-border payments platform Currencycloud have partnered to launch Quid’s multi-currency global wallet for businesses.
The integration with Currencycloud will provide Quid’s SME clients with a multi-currency wallet that can convert between EUR, GBP, USD, CHF, AUD and NZD currencies anytime.
Founded in 2020 and headquartered in London, Quid’s platform also provides company formation services. The company also has offices in Switzerland, Italy, Ireland, New Zealand and the US.
Since 2012, Currencycloud has processed more than US$100 billion for financial institutions to over 180 countries. The company was acquired by Visa in 2021.
Nick Cheetham
“Small businesses are increasingly operating globally and there is a huge need to process international payments seamlessly and cost-effectively.

The partnership between Quid and Currencycloud offers even the smallest of businesses the opportunity to do just that,”
said Nick Cheetham, Chief Revenue Officer at Currencycloud.
“The multi-currency Global Wallet we have developed with Currencycloud is a key product in our ecosystem to support the success of any new business and facilitate easy payments for our customers in many regions globally,”
said Simon Byrne, Managing Director at Quid.
]]></description><link>https://fintechnews.eu/quid-launches-multi-currency-wallet-for-smes-with-visas-currencycloud</link><guid>2970</guid><author>Administrator</author><dc:content /><dc:text>Quid Launches Multi-Currency Wallet for SMEs With Visa’s Currencycloud</dc:text></item><item><title>Spain’s Cobee Raises €40M Series B for Employee Benefits Platform</title><description><![CDATA[Madrid employee benefits platform Cobee has closed a €40 million Series B funding round with investments from London-based Octopus Ventures and Notion Capital.
The company says that it tripled its business since it last raised a €14 million Series A in 2021, and that the latest funding will help it expand to Mexico and grow its headcount to over 200 in the next 18 months.
Cobee also plans to expand its focus beyond benefits such as meal vouchers and travel tickets that come with tax advantages to benefits related to physical and emotional wellbeing.
Founded in 2019, Cobee currently operates in Spain and Portugal. The company also made LinkedIn’s list of top fintech startups in Europe in 2022.
Nick Sando
“Employee benefits have gone from being a ‘pleasant’ to a ‘necessary’ tool for attracting and retaining talent. Cobee can play a crucial role in the employee benefit markets,”
said Nick Sando, Principal at Octopus Ventures.
Itxaso del Palacio
“What is unique about Cobee, in comparison with other competitors in the sector, is their infrastructure. Cobee has built a flexible and scalable platform, which can be expanded to countries with tax benefits and highly regulated benefit schemes,”
said Itxaso del Palacio, Partner at Notion Capital.
]]></description><link>https://fintechnews.eu/spains-cobee-raises-40m-series-b-for-employee-benefits-platform</link><guid>2971</guid><author>Administrator</author><dc:content /><dc:text>Spain’s Cobee Raises €40M Series B for Employee Benefits Platform</dc:text></item><item><title>Estonia’s Kriptomat Partners Volt for Real-Time Payments for Crypto Trading</title><description><![CDATA[Estonian crypto platform Kriptomat has partnered with UK payment gateway provider Volt to enable customers to make real-time account-to-account payments to buy, sell and exchange cryptocurrencies.
Prior to integrating with Volt, Kriptomat customers used bank transfers, credit cards and e-wallets for transactions which meant that funds could take three to five business days to reach accounts.
With Volt, Kriptomat users will be directed to their banking app where they can authorise payments to transfer and access funds in real-time.
Founded in 2018 in Tallinn, Kriptomat has a customer base of over 500,000 users, mostly in Central and Eastern Europe. The platform offers trading services for over 300 cryptocurrencies.
Srdjan Mahmutovic
“Today’s new crypto users are more like car owners, who expect to turn the key and have it work immediately. Volt’s technology has helped us provide that level of usability to our customer base,”
said Srdjan Mahmutovic, CEO at Kriptomat.
Matt Komorowski
“We’re excited to partner with Kriptomat and support their mission of making crypto trading accessible to everyone in a way that is both compliant and innovative,”
said Matt Komorowski, Chief Revenue Officer at Volt.

This article first appeared on Fintech News Baltic.
]]></description><link>https://fintechnews.eu/estonias-kriptomat-partners-volt-for-real-time-payments-for-crypto-trading</link><guid>2972</guid><author>Administrator</author><dc:content /><dc:text>Estonia’s Kriptomat Partners Volt for Real-Time Payments for Crypto Trading</dc:text></item><item><title>Fintech Startup Failures Pile Up</title><description><![CDATA[After experiencing record investment volumes in 2021, venture funding is dropping significantly this year amid hiking inflation rates, political instability and tanking stock prices. Investors are scaling back their investment pace significantly, and though many startups are still holding strong and enduring the chaos, dozens have shut down.
Since the beginning of the year, at least 11 fintech companies have closed down, according to CB Insights. A majority of these startups folded due to their inability to raise fresh capital, as was the case for proptech startup Reali and neobank Bank North, while others, like Neufund and LendUp, crumbled in the face of regulatory pressure and legal issues.
Of the 11 fintech startup failures reported, four of them – CommonBond, Reali, Volt Bank and LendUp – were rather large and costly ones, involving startups that had raised US$100 million and up, the data show.
Student loan lending startup CommonBond, which had secured a total of US$1.3 billion in disclosed funding, said in September that it will be “winding down” its operations after its core businesses took a major big during COVID-19.
Reali, a real estate and fintech platform that had raised US$292 million in funding, announced in August that it will begin a shutdown and will be laying off most of the workforce on September 9, citing “challenging real estate and financial market conditions.”
In Australia, Volt Bank, the first exclusively online bank to secure a banking license in the country, said in June that it would shut down, returning deposits and selling its mortgage book after failing to raise sufficient funds to support the business. The digital bank had raised US$102 million.
Finally, LendUp, a payday lending company, was forced by the US Consumer Financial Protection Bureau to cease making new loans and collecting some outstanding loans in December 2021 for “repeatedly lying and illegally cheating its customers,” the regulator said. LendUp had secured US$366 million.
Other significant fintech failures this year include Bank North, a challenger bank that raised US$96 million before running out of cash and collapsing in October; Propzy, a Vietnamese real estate technology platform that had raised US$33 million but ceased operation suddenly in September, citing the impact of the pandemic and unstable global financial situation due to the Russia-Ukraine conflict; B3i Services, an insurance blockchain consortium that had secured US$26 million but which filed for insolvency in July following unsuccessful funding rounds; and Neufund, a security token platform that closed down in January after raising a total of US$19 million.
The other three fintech startups that went belly up this year and which are highlighted in the CB Insights report are Wingocard, a teen financial literacy app that shut down in May; AskRobin, a credit marketplace for unbanked populations went out of business in January after reaching nearly two million customers; and Binance Asia Services, the Singapore arm of cryptocurrency exchange Binance that withdrew from the city-state and closed in February.
2022 has been a trying year for the global fintech scene amid plunging funding activity and a turbulent economy that have forced players to make serious job cuts.
Klarna, a buy now, pay later (BNPL) leader, reduced its headcounts by about 10% in May, citing pressure from investors to slim down its operations. Klarna lost more than US$580 million in the first six months of 2022.
Brex, a corporate spend management once valued US$12.3 billion, laid off 11% of its staff this year as part of a restructuring.
German digital bank N26 reported in October a wider loss for 2021 and a slowing in customer growth. N26’s 2021 loss increased to EUR 172 million from EUR 151 million in 2020. The bank added one million new customers last year, down from the two million customers that were added in 2020.
Global fintech funding this year reached US$63.5 billion in Q3 2022, a sum that represents just 45% of 2021’s total of US$141.2 billion, data from CB Insights show.
Global fintech funding, Source: State of Fintech Q3 2022, CB Insights, Oct 2022

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/fintech-startup-failures-pile-up</link><guid>2965</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Global-fintech-funding-Source-State-of-Fintech-Q3-2022-CB-Insights-Oct-2022.png?x30842</dc:content ><dc:text>Fintech Startup Failures Pile Up</dc:text></item><item><title>PayPal Ramps Up Integrations and Partnerships</title><description><![CDATA[PayPal has reached a new agreement with Apple that will see that two technology giants accept each other’s products in their respective payment ecosystems. The partnership is the latest in a series of collaborations announced by PayPal over the past few years that have sought to deepen the firm’s market penetration in the digital payments and commerce spaces.
The move was unveiled in PayPal’s Q3 2022 earnings report in which the paytech firm announced that both PayPal and its mobile payment subsidiary Venmo will be supporting Apple’s Tap to Pay on iPhones “soon” and provide both merchants and consumers with the ability to use Apple Pay to accept payments and make purchases.
In particular, the deal will allow PayPal merchants to use their iPhone and the PayPal or Venmo iOS app to accept contactless debit or credit cards and mobile wallets, including Apple Pay. PayPal will also add Apple Pay as a payment option in its checkout offerings and merchants platforms, including the PayPal Commerce Platform, the company said.
For consumers, users will also be able to add their PayPal and Venmo credit and debit cards to their Apple Pay wallet and use them anywhere Apple Pay is accepted.
Tap to Pay is a new feature introduced by Apple back in February that allows merchants to turn their iPhones into contactless payment terminals, avoiding thus the need to purchase any additional hardware. Apple had Stripe as a launch partner, with Square following suit in September.
Up until now, PayPal and Venmo’s cards weren’t available in Apple’s mobile wallet.
The two firms offer the most widely used digital wallets in the US. Apple Pay claims it is accepted at more than 90% of US retailers, and is said to be serving 507 million users, as of September 2020. PayPal, on the other hand, clocks 426 million active accounts, while its mobile payment subsidiary Venmo claimed nearly 90 million accounts in the US in Q2 2022.
The addition of PayPal and Venmo cards into Apple Pay is similar to what PayPal already has with Google Pay. Four years ago, the two companies expanded an existing collaboration to allow Google Pay customers to link their PayPal account and make purchases straight from that wallet.
PayPal integration into Google Pay, Source: Google, 2019
Most recently, Venmo went live as a new payment option for select Amazon customers, a year after announcing the partnership. The firm is now “ramping to full availability for US Amazon customers this holiday season.”
Super app ambitions
These new agreements come in line with PayPal’s broader ambition to increase its market share, expand more aggressively in in-store payments, and eventually become the ubiquitous payment method.
Last year, the firm unveiled plans to morph into the next global super app, akin China’s WeChat and Singapore’s Grab. It subsequently launched the first version of the platform, introducing in September 2021 an app that combines all sorts of financial tools and services, including direct deposit, bill payment, a digital wallet, peer-to-peer payments, shopping tools and crypto capabilities. PayPal also inked a partnership with Synchrony Bank to launch PayPal Savings, a high yield savings account.
PayPal announces its new app, Source: PayPal, 2021
The firm said at a time that more features and enhancements would come in the next quarters, including investment capabilities and more payment methods.
In June 2022, it launched PayPal Monthly, a new buy now, pay later (BNPL) offering that allows US users to spread payments out over longer periods of time, and in October, it introduced PayPal Rewards, a unified rewards program for US consumers to earn points through merchant offers, deals, and other discounts, and redeem them when checking out with PayPal.

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/paypal-ramps-up-integrations-and-partnerships</link><guid>2966</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/PayPal-integration-into-Google-Pay-Source-Google-2019.png?x30842</dc:content ><dc:text>PayPal Ramps Up Integrations and Partnerships</dc:text></item><item><title>UK’s Starling Bank Blocks All Transactions to and From Crypto Platforms</title><description><![CDATA[London-based Starling Bank recently announced in a text to its users that it has decided to block all incoming and outgoing transactions to crypto exchanges and other crypto platforms.
Starling Bank says that while the technology and thinking behind cryptocurrencies holds great potential advantages, the asset class is high risk and heavily used for criminal purposes in its current form.
The move to restrict Starling customers from using their accounts to withdraw or deposit cash into or out of crypto exchanges comes amid increasing scrutiny around crypto following FTX’s bankruptcy.
Founded in 2014, Starling Bank is a digital bank offering personal, joint, and business accounts. The company last raised a £130.5 million in April 2022, £50 million in April 2021, and £272 million in March 2021.
]]></description><link>https://fintechnews.eu/uks-starling-bank-blocks-all-transactions-to-and-from-crypto-platforms</link><guid>2967</guid><author>Administrator</author><dc:content /><dc:text>UK’s Starling Bank Blocks All Transactions to and From Crypto Platforms</dc:text></item><item><title>Crypto Winter Wipes Out 72,000 Bitcoin Millionaires in 2022</title><description><![CDATA[Crypto comparison website Bitstacker conducted a study which found that there was a 70% drop in Bitcoin millionaires in November 2022 when compared to January 2022 due to the ongoing ‘crypto winter’.
72,000 Bitcoin holders were no longer millionaires due to the drop in BTC prices from US$46,208 at the start of 2022 to US$15,759 at the time of the study in November.
Bitcoin addresses holding more than US$1,000,000 worth of BTC in 2022 (January vs. November). Source: BitStacker
Bitstacker also found that there was some 3,577 accounts holding over US$10 million in Bitcoin, while there were over 34 million addresses that had at least US$1 in Bitcoin assets.
Furthermore, there are currently 10 Bitcoin billionaires in the world, with the richest ‘Bitcoin billionaire’ holding 252,597 BTC worth around US$4.05 billion — representing 1.31% of all BTC in existence.
]]></description><link>https://fintechnews.eu/crypto-winter-wipes-out-72000-bitcoin-millionaires-in-2022</link><guid>2968</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Bitcoin-addresses-holding-more-than-1000000-worth-of-BTC-in-2022-January-vs.-November-1024x528.png?x30842</dc:content ><dc:text>Crypto Winter Wipes Out 72,000 Bitcoin Millionaires in 2022</dc:text></item><item><title>Railsr Launches Data Dashboard for Brands to Track Customer Trends</title><description><![CDATA[London-based embedded finance platform Railsr has launched Insights, a dashboard for brands to access data-driven insights on their customer base to optimise the end consumer product.
Railsr’s Insights allows brands to track customer data such as account approval rates, card activation rates, average time to first conduct a transaction, and the average transaction amount.
The dashboard also allows brands to select specific display filters, track their progress against KPIs, understand trends and identify areas for improvement.
Railsr recently closed a US$46 million Series C led by Anthos Capital. The company says that it will be rolling out Insights across its banking products in the next quarter.
Stuart Gregory
“More insight puts businesses in the driving seat, and allows them to manage and improve their own financial service offerings,”
said Stuart Gregory, Chief Operating Officer of Railsr.
Yanki Onen
“We needed a dashboard for a 360 view of end-user activity. Insights not only powered us with the overview, but also the breakdown of the data to multiple tiers,”
said Yanki Onen, Founder of Wamo.io.
]]></description><link>https://fintechnews.eu/railsr-launches-data-dashboard-for-brands-to-track-customer-trends</link><guid>2969</guid><author>Administrator</author><dc:content /><dc:text>Railsr Launches Data Dashboard for Brands to Track Customer Trends</dc:text></item><item><title>45 Millionen für Startup Fund von EquityPitcher</title><description><![CDATA[Die Venture Capital Firma EquityPitcher AG schliesst erfolgreich ihren zweiten Fonds. Dieser investiert gezielt in Startups aus der DACH-Region und zählt bereits 20 Portfolio-Unternehmen aus 12 verschiedenen Industrien. EquityPitcher setzt bei all ihren Investments auf eine persönliche Begleitung der Startups und ermöglicht ihnen Zugang zu einem breit abgestützten Industrie-, Unternehmer- und Investorennetzwerk.
In den letzten Jahrzehnten hat sich die Landschaft der Startups in Europa enorm weiterentwickelt und wurde so auch zu einem agilen Treiber der hiesigen Innovationskraft. Um diese Innovationen weiterhin auf hohem Niveau halten zu können, braucht es die entscheidenden Erfolgsfaktoren Kapital, Knowhow und Netzwerk. An dieser Schnittstelle setzt EquityPitcher an und bietet vielversprechenden Startups aus der DACH-Region nebst Kapital ein Netzwerk aus renommierten Branchenexperten, Investoren und Exit-Partnern.
Netzwerkgetriebener Venture Capital schliesst den zweiten Fonds
EquityPitcher legte im Jahr 2018 den ersten Fonds auf und lancierte im 2020 den zweiten Fonds, welcher im September dieses Jahres geschlossen wurde. Ein dritter Fonds befindet sich bereits in Planung. Mit an Bord sind namhafte professionelle und institutionelle Investoren, die dem jungen aber zugleich ersten VC-Fonds aus dem Liechtenstein vertrauen. EquityPitcher, die als VC-Firma selbst den Weg eines Startups bestritten hat, will an diesem Erfolg anknüpfen und setzt dabei auf einen netzwerkgetriebenen Investitionsprozess. Dies gehört bei EquityPitcher bereits seit ihrer Gründung im Jahr 2016 zu Ihrer Identität.
Hermann Koch
«Wir freuen uns sehr, dass wir trotz der aktuellen marktwirtschaftlichen Ereignisse erfolgreich unseren zweiten Fonds schliessen konnten und das Vertrauen der Investoren erhalten haben. Wir erwarten, dass der Trend dieser alternativen Anlageklasse weiterhin wachsen wird und sind überzeugt, dass unsere Startups die Entwicklung der Wirtschaft entscheidend mitgestalten werden»,
unterstreicht Hermann Koch, Gründungspartner von EquityPitcher.
Monetäre Anreize reichen Startups längst nicht mehr
EquityPitcher ist überzeugt, dass das in Startup investierte Kapital einer von vielen Erfolgsfaktoren ist. Ebenso wichtig sind für die Startups Werttreiber, die sie über eine lange Zeit hinweg nachhaltig beim operativen Wachstum unterstützen. Nebst Kapital vernetzt EquityPitcher daher Startups mit dem breit gefächerten Netzwerk von Gründern, Industrieexperten und Co-Investoren sowie auch potenziellen Kunden. Dies schafft gegenseitiges Vertrauen und ist die Grundlage für die persönliche sowie professionelle Beziehung, welche EquityPitcher mit den Startups pflegt.
Sascha Horrig
«Startups von heute suchen nach Investoren, die neben dem Kapital einen zusätzlichen Mehrwert bringen. Durch unser Netzwerk zu diversen Führungspersönlichkeiten in der DACH-Region können wir unsere Portfolio-Unternehmen bei deren Skalierungsphase und der damit verbunden Kundenakquise proaktiv unterstützen. Dieses Vorgehen hat dazu beigetragen, dass wir bei Gründern sowie bei Co-Investoren einen positiven Ruf als Investor geniessen dürfen, der gerne im Aktionariat gesehen ist»,
ergänzt Sascha Horrig, Gründungspartner Partner bei EquityPitcher.
Der netzwerkgetriebene Ansatz hat sich bei den Gründern herumgesprochen. So ist auch Sandra Tobler, CEO von Futurae, von diesem überzeugt: «EquityPitcher ist ein toller Partner für uns. Sie haben uns zu diversen potenziellen Kunden und deren Entscheidungsträgern die Türen geöffnet, was ein wirklicher Mehrwert für uns ist und Futurae erlaubt hat, weiter zu wachsen.»
Schweizer VC innovieren dank Wandel im Ökosystem
EquityPitcher hat gezeigt, dass ihr Modell funktioniert. Künftig wird das Netzwerk weiter ausgeweitet und die Vernetzungsprozesse mit dem Ziel optimiert, dass die Portfolio-Startups davon profitieren können. Daneben arbeitet der VC auch an weiteren unkonventionellen Methoden, um den Startups noch mehr Mehrwert zu bieten. Im Laufe des Jahres wurde unter anderem eine Jobplattform lanciert, welche die Vakanzen der Portfolio-Startups an einem Ort konsolidiert und es somit einfacher macht, geeignete Fachkräfte zu finden.

]]></description><link>https://fintechnews.eu/45-millionen-fur-startup-fund-von-equitypitcher</link><guid>2962</guid><author>Administrator</author><dc:content /><dc:text>45 Millionen für Startup Fund von EquityPitcher</dc:text></item><item><title>Market Participants See Potential in DLT and Tokenization to Shorten Settlement Cycle</title><description><![CDATA[The clearing and settlement landscape is on the brick of a major transformation, driven by the accelerated pace of technology development and adoption. In the coming years, market participants expect the settlement timeframe to substantially shorten as technology continue to advance and as more jurisdictions move to a T+1 settlement cycle where the settlement of a transaction occurs less than 24 hours from the day of transaction, a new study by Citi found.
The second edition of Citi’s Securities Services Evolution whitepaper, released on November 02, 2022, shares the results of a survey of nearly 300 industry participants including custodians, banks, broker dealers, asset managers and institutional investors. The survey sought to understand their views and predictions for the future of the global securities market ecosystem.
Findings from the study show that market participants from around the world increasingly believe that shorter settlement cycles are the forthcoming reality.
Of the ~300 market participants polled, 51% think T+1 will be the prevailing settlement timeframe for equities to be T+1 by 2026, up seven points from last year.
The survey also found a notable increase in those regarding immediate atomic settlement as the likely 2026 settlement timeframe, from 18% last year to 20% now.
Overall, 85% of respondents expect settlement to be at T+1, T+0 or atomic over the same timeframe, versus 78% in 2021.
The prevailing settlement timeframe for equities by 2026, Source: Securities Services Evolution 2022, Citi
This rise, the report says, can be explained by a drive from regulators to accelerate settlement cycles.
In the securities industry, the settlement period refers to the time between the trade date – the day on which the order was executed – and the settlement date – the date when a trade is final and that the buyer must make payment to the seller while the seller delivers the assets to the buyer.
The abbreviations T+1, T+2, and T+3 refer to the settlement dates of security transactions that occur on a transaction date (“T”) plus one day, plus two days, and plus three days, respectively. T+0 refers to same day settlement, while atomic settlement refers to real-time, immediate settlement.
Currently, most securities transactions settle within a couple of days of the actual trade date, but a combination of better technology, the sheer volume of securities trading and regulatory momentum have allowed this window to be reduced over time.
Europe, in pioneer in the domain, moved to a T+2 basis back in 2014. This was followed in 2017 by the US, Canada, Mexico, Peru and Argentina. Leading Asia-Pacific (APAC) markets including Australia, India, Indonesia, Japan, Hong Kong, Korea, New Zealand, Singapore and Taiwan, have also migrated to T+2.
Now, several jurisdictions have announced their intention to shorten settlement cycles even further and move to a T+1 basis. India is taking a phased approach to this migration, which commenced in February 2022, while the US and Canada are planning to adopt T+1 in 2024.
DLT and tokenization
Changes in securities settlement processes are also being driven by the rise of digital assets. Renewed interest in the sector over the past two years has prompted industry participants to start exploring the potential of distributed ledger technology (DLT) and tokenization in securities markets, the report notes.
Last year, Deutsche Börse, Deutsche Bundesbank and Germany’s Finance Agency completed the testing of a blockchain-based settlement interface for electronic securities. The pilot made use of tokenization and DLT to digitize securities and make the settlement process much faster and more efficient.
In the broader European Union (EU), the European Securities and Markets Authority (ESMA), the bloc’s securities markets regulator, is currently developing the trading and settlement of tokenized securities, or digital representations of traditional securities, utilizing DLT.
In Switzerland, the Swiss National Bank, the BIS Innovation Hub and the financial infrastructure operator SIX have been collaborating on Project Helvetia since 2020, an initiative which focuses on exploring the settlement of tokenized assets in central bank money.
Interest in digital assets was reflected by the market participants surveyed by Citi with 88% of those polled by the bank indicating that their organization was either actively participating in, or exploring use cases for digital assets, blockchain or DLT.
Engagement of digital assets, blockchain or DLT, Source: Securities Services Evolution 2022, Citi
Market participants have clear expectations of tokenization, with more than 90% of respondents believing that tokenization will be either extremely or moderately valuable in terms of increasing market liquidity.
The benefits of tokenization, Source: Securities Services Evolution 2022, Citi
They are also optimistic on the possible cost savings opportunities brought about DLT market infrastructure. A quarter of respondents anticipate that DLT-based market infrastructure could cut post trade processing costs by 31-50% and 54% expecting it will produce savings of 10-30%.
DLT and cost reduction, Source: Securities Services Evolution 2022, Citi

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/market-participants-see-potential-in-dlt-and-tokenization-to-shorten-settlement-cycle</link><guid>2963</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/The-prevailing-settlement-timeframe-for-equities-by-2026-Source-Securities-Services-Evolution-2022-Citi.png?x30842</dc:content ><dc:text>Market Participants See Potential in DLT and Tokenization to Shorten Settlement Cycle</dc:text></item><item><title>PostFinance Anlage-Report: In der Schweiz legt nur die Hälfte der Erwachsenen ihr Geld an</title><description><![CDATA[In Zusammenarbeit mit der Hochschule Luzern – Wirtschaft (HSLU) hat PostFinance eine umfassende Erhebung zum Anlageverhalten in der Schweiz durchgeführt. Die Resultate zeigen, dass ein geringes Interesse für die Finanzmärkte, ein vermeintlich fehlendes Vermögen, wenig Finanzwissen und Angst vor Verlusten zu den wichtigsten Gründen zählen, warum Personen ihr Geld nicht in Wertschriften investieren. Überraschend: der hohe Anteil an jungen Anleger:innen der Generation Z.
Sie sind zum Teil erst seit Kurzem volljährig, stehen am Anfang ihrer Berufskarriere, aber sind schon investiert – die Generation Z, also mündige Personen mit den Jahrgängen 1997 bis 2004. Diese Generation investiert bereits gleich häufig wie die Vorgängergeneration Y der Jahrgänge 1981 bis 1996. Zu diesem Resultat gelangt der «PostFinance Anlegen-Report», in dessen Rahmen über 3000 Personen aus der gesamten Schweiz befragt wurden.

Prof. Dr. Andreas Dietrich
«Der Anteil der Anleger:innen in der Generation Z ist unerwartet hoch»,
sagt Studienautor Prof. Dr. Andreas Dietrich von der HSLU.
«Dies könnte damit zusammenhängen, dass viele Personen dieser Generation in einer Periode erwachsen wurden, die von starken Kursanstiegen an den Aktienmärkten geprägt war. Die Kurseinbrüche der letzten Finanzkrise liegen für viele Personen dieser Generation weit zurück.»
Generell scheint die Generation Z mehr Vertrauen in die Finanzmärkte zu haben als die Generation Y der Jahrgänge 1981 bis 1996.
«Der Anlagekosmos kann imposant und einschüchternd wirken»
Wie der Report zeigt, ist eine typisch anlegende Person tendenziell männlich, älter als 58 Jahre, kommt aus der Deutschschweiz, verfügt über einen Tertiärabschluss und über ein überdurchschnittlich hohes Vermögen und Einkommen. Mit 55 Prozent der Befragten legt in der Deutschschweiz ein deutlich grösserer Teil sein Geld an als in der Westschweiz (39 Prozent) oder im Tessin (38 Prozent). Die wichtigsten Gründe, warum die befragten Personen nicht investieren, sind ein geringes Interesse für die Finanzmärkte, ein fehlendes Vermögen (wobei es sich hier teilweise um eine subjektive Wahrnehmung handelt), wenig Finanzwissen und Angst vor Fehlern und Verlusten. Obwohl viele Banken heute einfache Anlageprodukte bieten, investiert aktuell nur die Hälfte der Haushalte in der Schweiz ihr Geld in Wertschriften.
Philipp Merkt
«Der Anlagekosmos mit Schlagwörtern wie Aktien, Obligationen, strukturierten Produkten oder Fonds wirkt auf viele imposant und einschüchternd»,
sagt Philipp Merkt, Chief Investment Officer bei PostFinance.
«Zudem ist die Sorge, aus Unwissenheit einen Fehler zu machen, verständlicherweise gross. Auch hält sich der Glaube hartnäckig, dass es zum Anlegen ein grosses Vermögen und viel Finanzwissen braucht.»
Dabei könne man heutzutage dank digitalen Angeboten bereits ab kleinen Beträgen in Wertschriften investieren und sich auch mit wenig Zeit genügend Wissen über die richtige Anlagestrategie für die persönlichen Bedürfnisse aneignen. «Es liegt an uns Banken, den Menschen das Anlegen so einfach wie möglich zu machen und ihnen die Angst vor dem Anlegen zu nehmen», ergänzt Merkt.
Der Hälfte der Befragten ist Nachhaltigkeit wichtig
Der Report bestätigt: Männer legen ihr Geld eher an als Frauen, ältere Personen eher als jüngere. Je mehr Finanzwissen und -interesse eine Person hat, desto eher legt sie ihr Geld an. Das Thema Nachhaltigkeit beim Anlegen ist über alle Generationen hinweg über der Hälfte der Befragten wichtig. Hier gibt es allerdings Unterschiede zwischen bereits investierten und nicht-investierten Personen. Für knapp 60 Prozent der befragten Anleger:innen sind nachhaltige Produkte wichtig. Die älteren Personen stimmten häufiger zu, dass ihnen nachhaltiges Anlegen wichtig ist als jüngere Generationen. Jüngere Nicht-Anleger:innen hingegen stimmten häufiger als die älteren Generationen zu, dass sie eher investieren würden, wenn es ein breites Angebot an nachhaltigen Anlageprodukten gäbe.
Zum PostFinance Anlegen-Report
Die Gründe, weshalb Privatpersonen nicht anlegen, sind in der Schweiz bislang wenig erforscht. Eine grossangelegte Untersuchung zu diesem Thema fehlte bisher. Im Kontext der instabilen Wirtschaftslage durch Inflation und Krieg ist das Thema hochaktuell. In Zusammenarbeit mit der HSLU hat PostFinance bei 3000 Personen aus der gesamten Schweiz eine repräsentative Bevölkerungsbefragung durchgeführt. Die Ergebnisse der Erhebung liegen nun im «PostFinance Anlegen-Report 2022», der online unter postfinance.ch/anlegen-report abrufbar ist, vor.
]]></description><link>https://fintechnews.eu/postfinance-anlage-report-in-der-schweiz-legt-nur-die-halfte-der-erwachsenen-ihr-geld-an</link><guid>2964</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/postfinance-report.png?x30842</dc:content ><dc:text>PostFinance Anlage-Report: In der Schweiz legt nur die Hälfte der Erwachsenen ihr Geld an</dc:text></item><item><title>Sygnum Granted In-Principle Approval to Operate in the Abu Dhabi Global Market</title><description><![CDATA[Swiss digital asset bank Sygnum has received in-principle approval from the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) to expand to the city.
The approval allows the company to access Abu Dhabi’s established wealth management market and government support, and the opportunity to offers its crypto services.
Giulia Finkbeiner-Bertoni, formerly Head of External Asset Management at Swiss financial group Mirabaud’s Middle East office, has been appointed to head Sygnum’s new Abu Dhabi office.
Sygnum aims to serve the Middle East market with its digital asset banking, asset management, tokenisation and B2B banking services regulated by FINMA in Switzerland.
Target clients will include blockchain firms moving to the UAE for its well-regulated crypto environment, existing local crypto foundations, and traditional institutional investors.
Founded in 2017, Sygnum is a digital asset specialist with a Switzerland banking license and a Singapore capital markets services license. The group was last valued at US$800 million in early 2022.
Giulia Finkbeiner-Bertoni
“I am excited to join the global Sygnum team and introduce our vision for Future Finance to the Abu Dhabi financial community,”
said Giulia Finkbeiner-Bertoni, Sygnum’s designated UAE Senior Executive Officer.
Arvind Ramamurthy
“ADGM is pleased that Sygnum has been awarded an in-principle approval by the FSRA. We look forward to supporting them in expanding their presence in Abu Dhabi and the wider region,”
said Arvind Ramamurthy, Chief of Markets at ADGM.
This article first appeared on Fintech News Middle East.
]]></description><link>https://fintechnews.eu/sygnum-granted-in-principle-approval-to-operate-in-the-abu-dhabi-global-market</link><guid>2956</guid><author>Administrator</author><dc:content /><dc:text>Sygnum Granted In-Principle Approval to Operate in the Abu Dhabi Global Market</dc:text></item><item><title>Finastra Partners Fragmos Chain to Digitalise OTC Derivatives Post-Trade</title><description><![CDATA[Finastra is collaborating with French blockchain platform Fragmos Chain to provide out-of-the-box integration with Finastra Summit, its over-the-counter (OTC) derivatives market solution.
The API-first integration via FusionFabric.cloud enables banks globally to digitalise their OTC derivatives products to reduce the costs and risks associated with manual processes.
With Fragmos Chain, Finastra’s bank customers can match their trades, events and cash flows for settlement in a collaborative way, as well as store their data securely and exchange it in real-time.
Founded in 2019 and based in Paris, Fragmos Chain’s blockchain solution allows lifecycle and regulatory events in the post-trade management of financial instruments to be automatically determined.
Finastra is a London-based financial software provider. The company recently partnered with Visa to enable cross border payours, and Microsoft to offer financing options to North American SMEs.
Daniel Ivanier
“By digitalising the confirmation process of all derivatives and automating all post-trade processes, we are helping banks streamline their operations and reduce their risks, capital and costs,”
said Daniel Ivanier, CEO at Fragmos Chain.
Benoit Riquet
“Integrating Fragmos Chain with Finastra’s Summit, via our open platform for innovation FusionFabric.cloud, will help to reduce the challenges associated with traditional post-trade processes,”
said Benoit Riquet, Chief Product Officer, Treasury &amp; Capital Markets at Finastra.
]]></description><link>https://fintechnews.eu/finastra-partners-fragmos-chain-to-digitalise-otc-derivatives-post-trade</link><guid>2957</guid><author>Administrator</author><dc:content /><dc:text>Finastra Partners Fragmos Chain to Digitalise OTC Derivatives Post-Trade</dc:text></item><item><title>Italian Neobank HYPE Automates Customer Identity Verification With Onfido</title><description><![CDATA[Italian neobank HYPE has partnered with London-based identity verification and authentication provider Onfido to automate its customer onboarding process.
Launched in 2015, HYPE provides 1.7 million customers with services such as P2P and bill payments, transfers, savings management, and other banking services provided in collaborations with partners.
Onfido enables users to sign up for HYPE’s services remotely by allowing them to verify themselves by taking a photo of their government-issued identity document and a short selfie video.
Its software checks that the ID is genuine and not fraudulent, and its biometric technology matches the photo on the ID to the facial biometrics captured in the same flow.
Luca Grampioggia
“Our integration with Onfido means we can offer users an unparalleled banking experience starting at onboarding,”
said Luca Grampioggia, CEO at HYPE.
Oliver Krebs
“With Onfido’s support of over 2,500 identity documents, HYPE is able to scale its business while creating a fast and frictionless end-to-end digital process for their users,”
said Oliver Krebs, SVP of EMEA at Onfido.
]]></description><link>https://fintechnews.eu/italian-neobank-hype-automates-customer-identity-verification-with-onfido</link><guid>2958</guid><author>Administrator</author><dc:content /><dc:text>Italian Neobank HYPE Automates Customer Identity Verification With Onfido</dc:text></item><item><title>Bitpanda Receives Full Crypto Custody and Trading License in Germany</title><description><![CDATA[Austrian crypto platform Bitpanda has received a full operating license from the German Federal Financial Supervisory Authority or BaFin for the custody and proprietary trading of crypto assets.
Bitpanda claims to be the first European retail investment platform to obtain the license which was introduced by BaFin in 2020, allowing it to actively market and offer services in the German market.
Founded in 2014, Bitpanda now has nearly four million investors on its platform. The company also recently partnered with German neobank N26 to enable its cryptocurrency feature in Austria.
Bitpanda last raised a US$263 million Series C and US$170 million Series B led by Peter Thiel’s Valar Ventures in 2021, as well as a €10 million Series B extension round the same year.
Eric Demuth
“Receiving the license in Germany strengthens our position as a pioneer in terms of regulation in Europe and highlights yet again how well positioned we are in this area,”
said Eric Demuth, CEO and Co-Founder of Bitpanda.
]]></description><link>https://fintechnews.eu/bitpanda-receives-full-crypto-custody-and-trading-license-in-germany</link><guid>2959</guid><author>Administrator</author><dc:content /><dc:text>Bitpanda Receives Full Crypto Custody and Trading License in Germany</dc:text></item><item><title>France’s Karmen Raises €50M Credit Line From Fasanara to Finance Digital SMEs</title><description><![CDATA[Paris-based business financing platform Karmen has raised an additional €50 million in debt financing from London-based alternative asset management company Fasanara Capital.
Karmen first raised €22 million comprising €3 million in equity and €19 million in debt financing in a seed round led by Fasanara in January 2022, allowing the company to increase its headcount to 20.
Founded in 2021, Karmen started by offering non-dilutive, revenue-based financing to recurring revenue companies and has now extended its scope to include digital SMEs in France.
The platform allows companies to share data from their billing, accounting and banking services to assess their credit risk and eligibility for financing in less than 48 hours.
Karmen, which provides financing between €10,000 to €5 million, says that it has funded some 60 companies in the past year and that the new credit line gives it an annual deployment capacity of €150 million.
Daniele Guerini
“We are proud to support Karmen, our first investment in France, in their mission to democratise access to instant capital for French SMEs,”
said Daniele Guerini, Partner at Fasanara Capital.
Gabriel Thierry
“The need for digital SMBs to access instant, fair, and digital credit solution has never been so strong. I’m beyond proud of what the Karmen team has achieved in only 10 short months,”
said Gabriel Thierry, CEO and Co-Founder of Karmen.
]]></description><link>https://fintechnews.eu/frances-karmen-raises-50m-credit-line-from-fasanara-to-finance-digital-smes</link><guid>2960</guid><author>Administrator</author><dc:content /><dc:text>France’s Karmen Raises €50M Credit Line From Fasanara to Finance Digital SMEs</dc:text></item><item><title>Taktile Raises US$20M Series A From Index Ventures and Tiger Global</title><description><![CDATA[German automated decisions platform Taktile has closed a US$20 million Series A funding round with investments from Index Ventures and Tiger Global.
Taktile allows companies to build automated flows for decisions — like which customer to lend to or what price to offer a new customer — using its low code platform.
The company says that it has quadrupled its client base since lockdown restrictions were lifted, grown revenues by 300% in the past year, and that it currently processes 250,000 decisions every day.
The funding will be used to further develop its platform, including for broader applications that go beyond the financial industry, and accelerate ongoing expansion in the United States.
Founded in 2020 with offices in New York and Berlin, the Y Combinator-backed company’s advisory board includes Mulesoft founder Ross Mason, Ui Path founder Daniel Dines, and Datadog founder Olivier Pomel.
Maik Taro Wehmeyer
“By allowing businesses to adjust their decision flows in a quick, easy and data-driven way, we help them optimise decision accuracy, reduce risk, and significantly improve their margins,”
said Maik Taro Wehmeyer, Co-Founder and CEO of Taktile.
Carlos Gonzalez-Cadenas
“Taktile’s platform fills a gaping hole in the fintech stack by unblocking risk teams, enabling them to quickly build, test and evolve their risk models and rules without a heavy dependence on engineering,”
said Carlos Gonzalez-Cadenas, Partner at Index Ventures.
]]></description><link>https://fintechnews.eu/taktile-raises-us20m-series-a-from-index-ventures-and-tiger-global</link><guid>2961</guid><author>Administrator</author><dc:content /><dc:text>Taktile Raises US$20M Series A From Index Ventures and Tiger Global</dc:text></item><item><title>Challenger Bank SWISS4.0 Granted FINMA Fintech License</title><description><![CDATA[Financial services app SWISS4.0 has been granted a fintech license by the Swiss Financial Market Supervisory Authority (FINMA) to operate as a financial institution, effective 18 November 2022.
SWISS4.0 said that it is the first Geneva-based fintech to receive the FINMA fintech license and the fourth in Switzerland to do so since the license was introduced in 2018.
The other three Swiss companies that have received the FINMA fintech license are Zurich-based Yapeal and SR Saphirstein’s Fiat24, and Zug-based Klarpay.
SWISS4.0’s website describes it as an “exclusive community which is tapping into exceptional experiences through a state-of-the-art banking services application.”
“There is a great flourishing fintech era happening in Switzerland, and I am thrilled and proud that SWISS4 is part of this, contributing to diversifying the fintech industry in Switzerland,”
said Zhina Asmaei, Co-Founder &amp; CEO of Swiss4.0.
]]></description><link>https://fintechnews.eu/challenger-bank-swiss40-granted-finma-fintech-license</link><guid>2954</guid><author>Administrator</author><dc:content /><dc:text>Challenger Bank SWISS4.0 Granted FINMA Fintech License</dc:text></item><item><title>UBS Leverages iProov’s Face Verification Technology for Bank Account Opening</title><description><![CDATA[UBS has partnered with London-based identity verification company iProov to offer automated identity verification during the account opening process.
UBS launched the UBS key4 banking app earlier in the year to enable clients to carry out their banking transactions entirely digitally at any time of day by using video calls to verify client’s identity virtually.
Using iProov face verification technology, UBS key4 customers can now onboard remotely 24/7 by scanning their face against a government-issued document, such as a passport with a NFC chip.


UBS is the first bank in Switzerland to offer this process for account opening in combination with qualified electronic signatures.
Founded in 2011, iProov provides biometric identity authentication of online users. The company last raised a US$70 million equity round in early 2022 from Sumeru Equity Partners.
]]></description><link>https://fintechnews.eu/ubs-leverages-iproovs-face-verification-technology-for-bank-account-opening</link><guid>2955</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>UBS Leverages iProov’s Face Verification Technology for Bank Account Opening</dc:text></item><item><title>Temenos Infinity Enables 850 Digital Banks Globally</title><description><![CDATA[Temenos announced that its digital banking platform Temenos Infinity has passed 850 customers and that it sees tremendous growth as banks turn to packaged banking services for fast time to market.
Banks in the Europe, Middle East and Africa that have gone live with Temenos Infinity include Credem, Wise, Suez Canal Bank, Arab Tunisian Bank, and Virgin Money.
Temenos Infinity is an omnichannel platform providing banks with a 360-degree customer view to help them acquire, service, retain and cross-sell to customers on multiple channels and devices.


The platform offers composable banking services built on microservices and accessible via APIs, a low code development platform, as well as embedded Explainable AI (XAI) technology.
An example of XAI technology is Temenos Smart Banking Advisor, a platform that analyses data and provides recommendations to help SMEs optimise business and financial decisions.
Marc DeCastro
“Temenos Infinity offers banks a rich set of APIs, microservices, and micro apps to provide a true omnichannel experience across multiple lines of business,”
said Marc DeCastro, Research Director, Consumer Banking, IDC.
Max Chuard
“Temenos Infinity is the world’s best-selling digital banking platform used by over 850 financial institutions, from global tier one banks to digital challengers,”
said Max Chuard, Chief Executive Officer, Temenos.
]]></description><link>https://fintechnews.eu/temenos-infinity-enables-850-digital-banks-globally</link><guid>2947</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Temenos Infinity Enables 850 Digital Banks Globally</dc:text></item><item><title>Revolut Surpassed 25 Million Customers, Eyes Further Global Expansion</title><description><![CDATA[Global remittance app Revolut announced that it has surpassed 25 million retail customers worldwide, up from 20 million in July, and is now processing over 330 million transactions a month.
The company also plans to expand in Brazil, India, Mexico and New Zealand in the coming months following its expansion in the US this year, where it has over half a million retail users.
Several new appointments were made in these markets in the past year, including Paroma Chatterjee as CEO in India, Juan Miguel Guerra as CEO in Mexico, and Glauber Mota as CEO in Brazil.


Revolut is also set to launch in New Zealand in the next few months, as well as launch Revolut Lite, a streamlined version of its app in several Latin America, Southeast Asia and Middle East countries.
Additionally, 2,000 businesses are now joining Revolut Business every week. Revolut Business has processed more than £110bn in transactions for its business customers since launching in 2017.
Founded in London in 2015, Revolut last raised US$800 million in mid-2021 with a US$33 billion valuation. The company recently received regulatory approval to offer crypto products and services in the UK.
Nikolay Storonsky
“Revolut’s growth continues at pace. Topping 25 million customers in just over seven years is a fantastic achievement for the company,”
said Nikolay Storonsky, Chief Executive Officer, Revolut.
André Silva
“We are planning our next exciting launch, New Zealand, a country we have been hoping to bring Revolut to for some time, and we look forward to announcing more in the near future,”
said André Silva, Head of International Expansion, Revolut.
]]></description><link>https://fintechnews.eu/revolut-surpassed-25-million-customers-eyes-further-global-expansion</link><guid>2948</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Revolut Surpassed 25 Million Customers, Eyes Further Global Expansion</dc:text></item><item><title>German Regtech Firm Regnology Acquires Belgian Counterpart b.fine</title><description><![CDATA[German regtech startup Regnology has acquired b.fine, a Belgian regtech firm which helps financial institutions enhance their reporting supply chain.
b.fine’s platform helps financial institutions digitise, automate and manage their regulatory reporting processes, providing them better oversight of their different regulatory reporting streams.
Founded in 2017 and headquartered in Brussels, b.fine has a team of nearly 50 that serves over 30 institutional clients across banks, insurance companies and investment firms.


b.fine’s cloud-enabled technology is expected to enhance Regnology’s last-mile reporting capabilities and accelerate its ability to serve an extended pan-European market.
Regnology was formed in 2021 when BearingPoint RegTech, a former business unit of Dutch technology consulting group BearingPoint, joined forces with Irish regtech Vizor Software.
Rob Mackay
“b.fine has a fantastic track record of growth, and in delivering quality solutions to clients. Right from the start we were impressed by what the company has achieved in such a short space of time,”
said Rob Mackay, CEO of Regnology.
Klaas Van Imschoot
“We are looking forward to becoming part of the incredibly successful team at Regnology, with a shared vision to help clients adapt to the demands of an increasingly complex regulatory system,”
said Klaas Van Imschoot, CEO of b.fine.
]]></description><link>https://fintechnews.eu/german-regtech-firm-regnology-acquires-belgian-counterpart-bfine</link><guid>2949</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>German Regtech Firm Regnology Acquires Belgian Counterpart b.fine</dc:text></item><item><title>Prediction Capital Launches Early Stage Fund for DACH Fintech Startups</title><description><![CDATA[Swiss family office Infinitas Capital has launched Prediction Capital, a new venture capital firm focusing on early stage consumer tech and fintech investments in the DACH region.
Infinitas Capital’s Robin Lauber is one of three of Prediction Capital’s founding partners, with the other two being fintech expert Christopher Chuffart and consumer tech expert Kilian Graulich.
The new firm, said to be supported by an experienced advisory board, will also focus on investing in businesses which have a positive effect on the UN’s Sustainable Development Goals (SDGs).


Prediction Capital has invested in three startups so far, including Foodetective, a Swiss startup which enables F&amp;B businesses to manage their technology stack from a single platform.
Robin Lauber
“It is our core objective to not just support founders with capital, but partner with them on different levels by actively helping to make progress with our expertise and network,”
said Robin Lauber, Founding Partner, Prediction Capital.
Christopher Chuffart
“I am looking forward to actively partnering with exceptional entrepreneurs whilst supporting our LPs in creating and developing their very own VC footprint, thereby unlocking more resources to be invested in the thriving DACH ecosystem,”
said Christopher Chuffart, Founding Partner, Prediction Capital.
]]></description><link>https://fintechnews.eu/prediction-capital-launches-early-stage-fund-for-dach-fintech-startups</link><guid>2950</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Prediction Capital Launches Early Stage Fund for DACH Fintech Startups</dc:text></item><item><title>Alpadis Group Secures DIFC License, Opens Second Office in Dubai</title><description><![CDATA[Swiss corporate services provider Alpadis Group has obtained a license to operate in the Dubai International Financial Centre (DIFC) and has opened its second office in Dubai.
The group’s new office, based in the DIFC Gate Village, aims to serve financial services clients including investment funds, investment managers, family offices, and private investors.
Alpadis’ services include helping firms set up in DIFC, wealth management, foundations, succession planning and other services that may or may not require regulatory and compliance needs.


The group was founded in Switzerland in 2005 and has offices in Singapore, Malaysia, Hong Kong, Thailand and Japan. The company’s first office in Dubai was opened in January 2022.
Alain Esseiva
“It has been less than a year since we first opened our office in Dubai and I am delighted to be able to launch our second in the prestigious Dubai International Financial Centre.

Our DIFC office will allow us to protect and grow our customers’ wealth, work closely with Dubai’s wealth management ecosystem and guide new residents, entrepreneurs and businesses and they establish themselves and expand in Dubai,”
said Alain Esseiva, CEO of Alpadis Group.
This article first appeared on Fintech News Middle East.
]]></description><link>https://fintechnews.eu/alpadis-group-secures-difc-license-opens-second-office-in-dubai</link><guid>2951</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Alpadis Group Secures DIFC License, Opens Second Office in Dubai</dc:text></item><item><title>Exclusive Interview: Marc Evans, Klarpay COO on Virtual Banking</title><description><![CDATA[Even before the threat of the global pandemic, the seed of virtual banking started to sprout due to the technological race in recent decades. From the evolution of broadband internet infrastructure to 5G and satellite internet access, the internet has transformed how people work and merchants operate, giving rise to virtual banking.
However, besides these technological advancements, many other factors have propelled the emergence of virtual banking and how this is different from traditional banks.
Fintech News sat down with Marc Evans, Chief Operating Officer of Swiss-licensed fintech Klarpay AG, to discuss the company’s emergence in virtual banking.
Marc Evans, COO, Klarpay
What is the story behind the company’s inception, and what’s your target market?
Experience has shown that traditional banks have been unable to fully grasp and catch up with the evolving needs of e-commerce. Despite their efforts to accommodate more use cases, increasing compliance requirements from regulatory authorities have made it rather unattractive for traditional banks to adapt their operations to fully serve e-commerce platforms.
Consequently, these banks’ approach would be to embed arduous control processes without fully understanding their clients’ businesses or simply refusing to onboard such businesses altogether, leaving them with no option but to seek alternatives. In their quest for survival, these entities end up with non-banks in less regulated jurisdictions moving down the ladder. As such, they spend more time maneuvering their banking solutions to adapt to regulatory and compliance requirements when they should be focusing on upscaling their business.
At Klarpay, our mission is to solve the mismatch between the needs of modern companies and antiquated systems and processes offered by traditional financial institutions by having a deeper understanding of our clients’ business models as well as addressing and managing risks directly. Our solutions target various enterprises, and our product offerings are built to position online businesses for continued growth.
Virtual banking is often mistaken for internet or e-banking, which are two different concepts. Could you share your thoughts on this?
The terms, at first glance, appear synonymous. However, the distinction can have a significant impact on the services offered. E-banking is an internet-based option offered by regular banks as part of their efforts to digitise their customer experience.
Customers can view their account balance, transaction history, and send and receive money over the internet. However, the issue is that these online portals are built upon the bank’s legacy infrastructure, and it’s a huge undertaking for these banks to modernise their underlying systems. I know of cases where banks embarked on changing or updating their core systems only to abandon these projects mid-flight. The result being that the client is left with the same inefficient and limited experience.
A virtual bank has no physical branches and handles all transactions via the internet, email, ATMs, and mobile check deposits. Meanwhile, in virtual banking, all transactions are handled online. In Klarpay’s case, our transactional banking services are provided using our proprietary systems that enable rapid adaptation.
What are the challenges the emerging e-commerce and fintech market is facing with regard to payments, and how does Klarpay’s offerings compare to traditional institutions?
Traditional banking institutions have yet to match up to the fast-paced nature of e-commerce today. As a result, their clients face challenges in payments reconciliation and inefficient cross-border payment options leading to issues and delays in processing transactions.
At Klarpay, we’ve tailored our products to solve these challenges. We understand that businesses without standardised payment solutions have incurred severe losses, lower customer retention, and even sometimes faced legal liabilities.
With Klarpay’s virtual IBANs, businesses can assign IBANs to individual customers or suppliers to help simplify payment reconciliations, eliminate delays or mix-ups, and improve customer experience.
Likewise, Klarpay’s payments API is designed to seamlessly integrate into any e-commerce system, making it easy to pay employees, suppliers, and customers. Businesses can also bring our solution into their own ecosystem, eliminating the need for back-office personnel to copy payment details, check payment statuses, and match transactions between systems.
Our cross-border international payment options are optimised, enabling fast and secure global transfers in over 90 countries and 70+ currencies. Online businesses will also benefit from our virtual debit cards for online or in-store payments via Google Pay or Apple Pay.
Any expected launches by Klarpay?
Klarpay has recently expanded its international payment capabilities by launching dedicated USD and GBP Accounts. This addition enables digital companies to collect and disburse USD and GBP payments globally via their corporate Klarpay account. Our product roadmap extends into the future, with other significant releases planned. We’re also refining our existing tools to improve our client’s experience and efficiency.
What is your opinion on the future of paytech, and how is Klarpay preparing for it?
Paytech is evolving at a rapid rate. We’ve seen a monumental shift in consumer behaviour and preferences, with transactions going from offline to online and financial institutions and companies evolving from brick-and-mortar to virtual. From the advances we’re seeing today, it’s clear that the future will be characterised by an omnichannel experience where customers can seamlessly switch between payment methods.
At Klarpay, we’re familiar with the multitude of innovations in the payments space and their potential for our product offerings. Whilst Klarpay is a new player in the industry, we’re growing and evolving quickly. Our strength lies in our agility and the ability to develop solutions that ensure continuous business growth, sustainability, and success for all stakeholders.
]]></description><link>https://fintechnews.eu/exclusive-interview-marc-evans-klarpay-coo-on-virtual-banking</link><guid>2952</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Marc-Evans-COO-KlarPay.jpg?x30842</dc:content ><dc:text>Exclusive Interview: Marc Evans, Klarpay COO on Virtual Banking</dc:text></item><item><title>Total Funding to Portuguese Fintech Companies Surpasses EUR 1B Mark</title><description><![CDATA[In 2022, the Portuguese fintech ecosystem entered a new stage of development, marked by greater maturity of the sector, continued innovation through partnerships and a dynamic venture capital (VC) market, a new report by industry trade group Portugal Fintech, in collaboration with KPMG, Visa and law firm Morais Leitao, claims.
The Portugal Fintech Report 2022, released in October, shows a resilient fintech industry that has continued to grow, innovate and attract investors’ interest in 2022, despite falling tech stocks and concerns about an economic downturn.
This year, total funding to Portuguese fintech companies to date surpassed the EUR 1 billion mark, with blockchain and cryptocurrency, lending and credit, and regtech and cybersecurity attracting the most funding. These segments secured 76%, 12% and 6% of all capital raised by Portuguese fintech companies so far, respectively, according to the study.


Significant deals from fintech companies based in Portugal or with Portuguese founders were recorded in 2022. These include Uphold’s EUR 30.6 million round, Elucidate’s EUR 6.2 million seed funding and Habit’s EUR 5.2 million fundraising, the report notes. Uphold is a digital trading platform; Elucidate is a financial crime risk management platform; and Habit is an end-to-end insurance solution provider.
Industry partnerships are also increasing in number, the report says, with banks and insurance players moving beyond pitching competitions to now truly collaborating and testing new capabilities with fintech companies.
The report cites names like LOQR, hAPI, Visor.ai and Think Future as being among the fintech companies and tech providers that have recently inked collaborations with banks and incumbents.
LOQR is a digital onboarding platform for financial institutions that is partnered with Credibom and Banco Portugues de Gestao; hAPI is a provider of APIs that automatically collect data for onboarding use cases that works with the likes Banco Primus and Credom; Visor.ai is a conversational artificial intelligence (AI) platform that’s partnered with insurance firm Fidelidate; and Think Future is an insurtech company that counts among its partners MDS Group, a multinational insurance and reinsurance brokerage, risk consulting and benefits management company.
Fintech trends in 2022 and 2023
With the Portuguese fintech sector continuing to grow and evolve, industry participants and stakeholders were interviewed as part of the report to share the emerging trends they’ve observed in 2022 and those to look out for next year.
Eva Ruiz, head of fintech at Visa in Southern Europe, highlighted the rise of open finance, noting that the movement “will unleash the development of numerous new businesses and services” and bring about a plethora of innovative products and services that are more in-tune with customers’ preferences and needs.
She warned, however, that open finance will increase the complexity of the current open banking ecosystem, making it increasingly necessary to address the challenges to ensure data security and data privacy.
Joaquim Marques, commercial director at Weavr, stressed customers’ growing appetite for integrated experiences, noting that this has led to the rise of embedded finance. Moving into 2023, Marques expects embedded finance products to become ever more simple and intuitive, pushing with it greater adoption of such products. The range of products and services provided through embedded finance will also expand and extend to all financial services.
Dyma Budorin, co-founder and CEO of Hacken, and Andrii Matiukhin, CTO of Hacken, said that increased retail and institutional participation in the digital assets sector has turned the space into a lucrative target for hackers and criminals. At the same time, a lot of innovation is happening in decentralized finance (DeFi) and Web 3.0, two segments that are believed to hold huge potential to increase financial inclusiveness and offer superior customer experiences.
Against this backdrop, securing blockchain protocols will be critical for blockchain startups and projects and will define the winners and the losers, they said.
Carlos Eduardo Martins, a sustainable finance expert, said that environmental, social and governance (ESG) considerations and integration into business models and decisions have increased significantly over the past three years.
Moving forward, the release of the European Union taxonomy regulation will dramatically change the approach to sustainability by most organizations, he warned. The regulation is set to have a significant impact on businesses, change the investment landscape as we know it, and will likely give rise to a burgeoning green fintech ecosystem, he said.
Portuguese fintech industry
A look at the Portuguese fintech ecosystem shows that lending and credit is currently the largest fintech segment in the Portuguese fintech industry, counting 14 companies. Lending is followed by payments/money transfers with 11 companies, insurtech and blockchain/cryptocurrency, both with 10 companies each, and regtech and cybersecurity with eight companies.
Wealth management and environmental, social and governance (ESG), as well as real estate stand at the bottom of the list, counting seven and three companies, respectively.
In total, 69 fintech companies were recorded in the Portugal.
Portuguese fintech ecosystem, Source: Portugal Fintech Report 2022, Portugal Fintech
]]></description><link>https://fintechnews.eu/total-funding-to-portuguese-fintech-companies-surpasses-eur-1b-mark</link><guid>2953</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Total Funding to Portuguese Fintech Companies Surpasses EUR 1B Mark</dc:text></item><item><title>UK’s Banked Gets US$15M Series A Extension to Fuel US Expansion</title><description><![CDATA[London-based payments company Banked has raised over US$15 million in a Series A extension round, led by global software investor Insight Partners, following a Series A earlier this year led by Bank of America.
Citi, National Australia Bank Ventures, and global payments firm Rapyd also participated in the round. The round brings the company’s total funding raised to date to over US$50 million.
Banked has been focusing on expanding to the US, with CEO Brad Goodall relocating from London to the company’s new office in Palo Alto, California. The company has around 100 employees.


Founded in 2018, Banked provides an account-to-account payment software platform that lets consumers, businesses, and banks process payments in real-time.
Insight Partners previously invested in Swedish open banking platform Tink which was acquired by Visa for US$2.2 billion in mid-2021.
Brad Goodall
“Banked has been heads down building products and partnerships for four years and it is exciting to be launching markets globally at pace now,”
said Brad Goodall, CEO at Banked.
Byron Lichtenstein
“Banked’s unique strategy in partnering with commercial banks and payment service providers, as well as their product capabilities, stood out to us,”
said Byron Lichtenstein, Managing Director at Insight Partners.
]]></description><link>https://fintechnews.eu/uks-banked-gets-us15m-series-a-extension-to-fuel-us-expansion</link><guid>2946</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>UK’s Banked Gets US$15M Series A Extension to Fuel US Expansion</dc:text></item><item><title>Klarna Launches Price Comparison Tool in the UK, Sweden and Denmark</title><description><![CDATA[Buy now, pay later (BNPL) solution provider Klarna has launched a new in-app price comparison tool to provide an alternative to Google or Amazon as a starting point for consumers’ online shopping journeys.
Consumers will be able to view product results in price order, see if the price of an item has fluctuated, and also filter their search by product features, customer ratings, and shipping options.
Whenever browsing a product page, a panel will show consumers everything they need to know to make a confident decision, including whether other retailers are offering a better price.


At check-out, a pop-up panel will automatically look for and apply available coupons to further discount the price of their chosen products.
Following its launch in the US last month, the search and compare tool is now available to Klarna App users in the UK, Sweden, and Denmark — just ahead of Black Friday and the holiday season.
Klarna last raised US$1 billion in early 2021 at a post-money valuation of US$31 billion. The company launched its in-app shopping feature in Switzerland and the UK in mid-2021.
Sebastian Siemiatkowski
“Klarna’s new search and compare tool does the hard work for consumers and compares thousands of websites in real time to ensure they have all the information they need to make informed and confident purchase decisions,”
said Sebastian Siemiatkowski, Co-Founder and CEO, Klarna.
This article first appeared on Fintech News Nordics.
]]></description><link>https://fintechnews.eu/klarna-launches-price-comparison-tool-in-the-uk-sweden-and-denmark</link><guid>2944</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Klarna Launches Price Comparison Tool in the UK, Sweden and Denmark</dc:text></item><item><title>RealUnit – Anlagestrategie mit Krisenschutz als Aktie und Token</title><description><![CDATA[Der RealUnit ist eine echte Innovation im Finanzwesen. Tiefere Gebühren, mehr Flexibilität und keine Notwendigkeit eines Wertschriftendepots bei einer Bank. Dank Entwicklungen von innovativen Fintech-Unternehmen gibt es neue Möglichkeiten für Anlagestrategien. Machen Sie sich von Banken unabhängiger mit einem Aktientoken einer Investmentgesellschaft. Willkommen im 21. Jahrhundert!
Drei interessante Aspekte sprechen für den RealUnit:
1. die Anlagestrategie zur Sicherung der Kaufkraft und zum Schutz in Krisensituationen besticht in der aktuellen Finanzlage mit überzeugenden Argumenten


2. die Form als Aktienbeteiligung einer Investmentgesellschaft ist eine echte Alternative zu Konto, Anlagefonds oder strukturierten Produkten von Banken
3. die Namenaktie ist auch als digitaler Token auf der Ethereum Blockchain erhältlich
1. Überzeugende Anlagestrategie: Stabilität statt Spekulation
Die expansive Geldpolitik und die enorm hohe Staatsverschuldung haben das Finanzsystems stark geschwächt und anfällig für grosse Korrekturen gemacht. Schulden mit noch mehr Schulden zu tilgen und die Probleme auf die nächste Generation zu schieben, wurde weltweit als Hilfsmittel eingesetzt. Dadurch wurde das Finanzsystem zunehmend instabil und vom tatsächlichen Wirtschaftssystem entkoppelt.
Das Konzept des RealUnit beruht daher auf dem Gedanken, dass eine beständige Währung mit realen Sachwerten gedeckt sein sollte, welche sich optimalerweise im Gleichschritt mit der Wirtschaft bewegen. Dadurch sollen zwei wichtige Ziele erreicht werden: die Kaufkraft zu erhalten und in Krisensituationen den bestmöglichen Schutz vor Wertverlust zu gewähren.
Die Umsetzung dieser innovativen Anlagestrategie erfolgt durch reale Sachwerte und beinhaltet mehrheitlich physisches Gold, Silber und Industriemetalle, ja sogar Bargeldbestände, alles aufbewahrt in sicheren Lagerstätten ausserhalb des Bankensystems. Dazu kommen Beteiligungen an soliden, hauptsächlich Schweizer Unternehmen mit nachhaltigen Erträgen und einem krisenresistenten Geschäftsmodell.
2. Anleger*innen sind auch Miteigentümer*innen
Die Idee des RealUnit ist bereits über 20 Jahre alt. Die Anlagestrategie wurde stetig weiterentwickelt und ausgewählten Investor*innen als Vermögensverwaltungsmandat oder als Schweizer Anlagefonds angeboten. 2017 wurde der Fonds in die Investmentgesellschaft RealUnit Schweiz AG umgewandelt. Wer die Anlagestrategie kauft, ist somit auch Miteigentümer*in der Investmentgesellschaft und erhält Aktionärsrechte.
Mit dieser Form ist die rechtliche Struktur in Einklang mit der konzeptionellen Denkweise hinter der Idee, was den RealUnit auch einem breiteren Publikum zugänglich macht: Kleinanleger, die eine Alternative zum Sparkonto möchten, private und institutionelle Investoren auf der Suche nach einer krisenresistenten Anlagemöglichkeit oder Unternehmer, welche die Kaufkraft ihrer liquiden Mittel sicherstellen wollen – alle können gleichermassen von der wertstabilen und breit diversifizierten Anlagestrategie profitieren.
Ein weiterer Vorteil dieser Gesellschaftsform ist die Möglichkeit für Investitionen ausserhalb des Bankensystems und damit des erhöhten Schutzes im Falle einer zukünftigen Finanzkrise. Die realen Sachwerte (z.B. Gold, Silber, Bargeld) werden physisch und in sicheren Tresoren aufbewahrt. Zudem können wir schneller und flexibler auf Marktverwerfungen reagieren, da sie nicht an die vordefinierten Bandbreiten eines Anlagefonds gebunden sind.
3. Namenaktie als digitaler Token erhältlich
Die RealUnit Schweiz AG ist eine innovative Firma mit Weitblick und offen für die Entwicklungen aus der Fintech-Branche. Sie ist die erste börsenkotierte Gesellschaft in der Schweiz, die neben dem klassischen Kauf einer Aktie auch einen Token mit den gleichen Eigentumsrechten anbietet.
Wer sich also von der Bankabhängigkeit befreien will, kauft die Anlagestrategie in Form eines digitalen Aktien-Tokens auf der Ethereum Blockchain. Somit ist nicht nur der grösste Teil des Anlagevermögens ausserhalb des Bankensystems aufbewahrt, sondern auch Ihre persönlichen Anteile verwahren sie kostenlos und digital von Banken unabhängig. Sie stellen dadurch einen 24/7-Zugriff auf Ihre Vermögenswerte und eine jederzeitige Handelbarkeit sicher.
Der Wert des Tokens ist (im Gegensatz zu einer Kryptowährung) durch echte Sachwerte gedeckt und orientiert sich am Nettoinventarwert der investierten Vermögenswerte der RealUnit Schweiz AG.

Eine konservative Anlagestrategie in innovativer Form
Der starke Fokus auf Sachwerte verleiht dem RealUnit eine hohe Krisenresistenz und Wertbeständigkeit. Das spielt insbesondere bei steigenden Inflationsraten eine wichtige Rolle und sichert Ihnen die Kaufkraft Ihres Geldes. RealUnit sind als Inhaberaktie für das klassische Depot bei einer Bank konzipiert und auch als Namenaktie in Form eines digitalen Tokens auf der Blockchain erhältlich. Innovation im Finanzwesen – made in Switzerland!
Disclaimer/Haftungs-Ausschluss: Hier handelt es sich um einen Sponsored Post von Real Unit und nicht um einen Artikel von Fintechnews.ch Es handelt sich hier weder um eine Anlageberatung noch um eine konkrete Handlungsempfehlung.
]]></description><link>https://fintechnews.eu/realunit-anlagestrategie-mit-krisenschutz-als-aktie-und-token</link><guid>2945</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>RealUnit – Anlagestrategie mit Krisenschutz als Aktie und Token</dc:text></item><item><title>Sainsbury’s Appoints Checkout.com to Digitalise Its Payments Infrastructure</title><description><![CDATA[British grocery chain Sainsbury’s has appointed cloud payments company Checkout.com to modernise its payment infrastructure and and improve its customer offering.
The partnership sees Sainsbury’s utilising Checkout.com’s new till-free technology to allow customers to pay for their shopping via Sainsbury’s SmartShop app without having to visit a till.
The new payment option is currently live across Sainsbury’s ‘scan-and-go’ SmartShop stores and will be rolled out to Argos and Habitat stores in the coming months.


Sainsbury’s has also integrated with Checkout.com for in-app payments in its SmartShop app, including payments through digital wallets such as Apple Pay and Google Pay, as well as for payment processing.
Additionally, Sainsbury’s has awarded Checkout.com the Sainsbury’s Tech ‘Ones to Watch’ prize at this year’s Sainsbury’s TECH Supplier Awards. The companies will also co-host a hackathon in Q1 2023.
Helen Hunter
“We’re excited to roll out this new capability, made possible by Checkout.com’s technology, as we redefine an omnichannel checkout experience for customers with SmartShop,”
said Helen Hunter, Chief Technology Officer, Customer and Data, Sainsbury’s.
Leela Srinivasan
“Winning the business of an iconic British retailer such as Sainsbury’s is a testament to the role we play in enabling businesses to thrive in the digital economy,”
said Leela Srinivasan, Chief Marketing Officer at Checkout.com.
]]></description><link>https://fintechnews.eu/sainsburys-appoints-checkoutcom-to-digitalise-its-payments-infrastructure</link><guid>2942</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Sainsbury’s Appoints Checkout.com to Digitalise Its Payments Infrastructure</dc:text></item><item><title>BlackRock’s Fintech Bets Span Lending, Wealthtech, Crypto and More</title><description><![CDATA[BlackRock, one of the world’s largest asset managers, has been actively investing in the fintech industry over the past decade, participating in large rounds of financing across a broad range of segments, from payments and lending, to wealthtech and cryptocurrency, a new analysis by fintech-focused research firm WhiteSight shows.
The report, which delves into the investment firm’s fintech moves, shows that BlackRock has been a prolific fintech investors, dipping its toes into a variety of sectors.
BlackRock’s big bets on fintech, Source: WhiteSight, 2022
Data from Dealroom corroborate this, indicating that fintech is the second biggest industry BlackRock has invested in, with 46 investments. These investments primarily consist of growth and later stage rounds, and target mainly companies in the US, the UK and India.


According to the WhiteSight analysis, BlackRock’s fintech foray started back in 2011-2015 with debt facilities and participations in lending startups LendingClub and Funding Circle.
This evolved later on into a focus on wealthtech, with investments into robo-advisors, micro-investment and alternative investment platforms, including names like Acorns, iCapital and eFront.
2019, in particular, was a “breakout year” for the fund manager, WhiteSight says, which saw BlackRock taking part in massive funding rounds towards cross-border payment firm Wise (US$292 million) and buy now, pay later (BNPL) firm Klarna (US$460 million) to support their growth.
Following this, in 2020 and 2021, the firm shifted its focus to fintech infrastructure, technology providers and enablers as demand for digital tools and experiences soared on the back of the COVID-19 pandemic. This translated to investments into open banking infrastructure provider Trustly, electronic trading platform Trumid, core banking tech provider 10x Banking, and no-code enterprise application platform Unqork.
Integrating fintech
2021 also saw BlackRock starting more actively teaming up with industry partners, forging a variety of relationships with names like JP Morgan and Saphyre, a fintech and regtech communication platform, to modernize and digitize parts of its processes and functions.
In July 2021, the asset manager unveiled a partnership with Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives markets, to enhance Aladdin. The deal brought advanced margin analytics capabilities to BlackRock’s end-to-end investment management and operations platform.
The year further saw BlackRock extend its collaboration with iCapital to launch severage private market products covering private equity, private debt, and real assets, across geographies, including a broadening array of environmental, social and governance (ESG)-integrated strategies.
The partnership sought to leverage iCapital’s feeder fund structures and innovative technology platform to digitalize every aspect of the subscription and investor servicing process including capital calls, distributions, transfers and performance reporting for wealth advisors and their clients.
Finally, in mid-2021, BlackRock teamed up with Wise to support its foray into wealth management. This culminated in the launch of Wise Assets, an offering that allows Wise customers to invest in an index tracking fund managed by the investment firm.
Digital assets and crypto bets
This year, WhiteSight notes that BlackRock has diversified its fintech bets even more, investing, for example, in Bolt, an e-commerce payment technology firm, providing a US$30 million term loan facility to Root Insurance, an insurtech company specializing in car insurance, and participating in Wagestream’s US$175 million Series C. Wagestream is a financial wellbeing app and earned wage access platform.
BlackRock also took much bolder steps towards digital assets and crypto. Its most audacious move so far has been its partnership with Coinbase, a collaboration that has allowed Aladdin users access to crypto trading and custody.
At launch, the offering only covered bitcoin but the companies said more functionalities and greater integration are to be expected from the collaboration.
The move came on the back of the launch of several crypto and blockchain-focused investment products throughout the year. These include two blockchain-focused exchange traded funds (ETFs) and a spot bitcoin private trust.
BlackRock is now reportedly working on a new metaverse ETF called the iShares Future Metaverse Tech and Communications ETF, Bloomberg reported in September.
In the crypto space still, BlackRock has taken part in USDC stablecoin issuer Circle’s US$400 million round, crypto platform Anchorage Digital’s US$350 million Series D, and now bankrupted FTX’s US$420 million Series B-1.
]]></description><link>https://fintechnews.eu/blackrocks-fintech-bets-span-lending-wealthtech-crypto-and-more</link><guid>2943</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>BlackRock’s Fintech Bets Span Lending, Wealthtech, Crypto and More</dc:text></item><item><title>The Swiss Fintech Worldcup Football Team 2022</title><description><![CDATA[Am Sonntag ist es soweit und die (meist zu recht) stark kritisierte Fussball WM in Qatar startet mit den Eröffnungsspiel Qatar gegen Ecuador in Doha.
Wie bereits 2021 an der Fussball EM oder vor 4 Jahren an der Fussball WM in Russland haben wir nun auch wieder für die Fussball WM 2022  unser “Swiss Fintech Football Dream-Team” zusammengestellt. (Wie immer: just for fun und weil wir Fussball und Fintech begeistert sind)
Vor 6 Jahren hatte Finews unser allererstes EM Fintech Fussball Team gefeatured und dazumal von Zügen eines Fintech Hype gesprochen. Wir freuen uns jetzt schon auf den Kommentar von diesem Jahr ;).


Das Fintechnews.ch Redaktion ist jedenfalls fast schon wieder voll und ganz im Fussball-Hype (ähh im Fieber) und wird für die Qualifikations-Spiele sogar persönlich vor Ort sein.
Schweizer Spiele:
24.11 Schweiz-Kamerun, 11.00h
28.11  Schweiz-Brasilien, 17.00h
2.12  Schweiz-Serbien, 20.00h
und dann evlt. im Achtelfinale gegen Portugal?
Hopp Schwiiz!
Warum ist Twint immer noch Euer Jan Sommer?
Hier ein par Fragen die ihr zu unserer Aufstellung evtl habt: (meist ironische Antworten mit Humor geniessen bitte)
Warum ist Twint seit 2016 der Torhüter?:Wir finden Twint verteidigt den Mobile Payment Markt Schweiz ganz gut und so lange Apple Pay keinen Schweizer Pass bekommt, stehen wir zu unseren Torhüter. Murat Yakin hat ja die Qual der Wahl im richtigen Fussball, wir haben auf dieser Position aber eher ein Problem.
Warum sind folgende Fintechs nicht dabei? (Bspw. Yapeal, Bitcoin Suisse oder wer auch immer):Verletzt, angeschlagen, ausgemustert oder ausser Form.
Warum so viele Wealthtechs und fast keine Crypto Players?Wir finden die Stärken der Schweiz liegen im Wealthtech und bei Digital Assets (bspw. im Custody). Crypto sollte ein Teil von Wealthtech sein (und auch von der Standortförderung so rübergebracht werden) und darum hat der Trainer bewusst entschieden keinen puren Crypto Player für die Startelf zu nominieren. (Die Nomination erfolgte übrigens noch vor dem FTX Drama bereits Ende Oktober).
Vergangene TeamsUnsere vergangenen Fussball Fintech Teams findet ihr übrigens hier:202120182016
Das Schweizer Fussball Fintech National Team 2022


]]></description><link>https://fintechnews.eu/the-swiss-fintech-worldcup-football-team-2022</link><guid>2940</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>The Swiss Fintech Worldcup Football Team 2022</dc:text></item><item><title>Klarpay Enables Swiss Businesses to Transact in USD and GBP Globally</title><description><![CDATA[Business payments platform Klarpay has expanded its international payment capabilities with the launch of dedicated USD and GBP accounts.
The addition, which enables companies to collect and disburse USD and GBP payments globally via their corporate Klarpay account, comes after the company received a FINMA license to offer multi-currency accounts in 2021.
Founded in 2019, Klarpay’s Swiss IBAN corporate accounts allows businesses to transact through SEPA and SWIFT in more than 90 countries and 70 currencies via its dashboard and APIs.


The Zug-based company previously raised a US$3 million seed round in mid-2022 from Cyprus payments company Payabl and a US$1 million pre-seed round in late 2020.
Martynas Bieliauskas
“Our clients can now store funds, accept payments, and send payouts in USD and GBP in addition to using Klarpay’s extensive cross-currency payments and FX network,”
said Martynas Bieliauskas, Klarpay CEO.
]]></description><link>https://fintechnews.eu/klarpay-enables-swiss-businesses-to-transact-in-usd-and-gbp-globally</link><guid>2938</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Klarpay Enables Swiss Businesses to Transact in USD and GBP Globally</dc:text></item><item><title>Klarpay Enables Digital Businesses to Transact in USD and GBP Globally</title><description><![CDATA[Business payments platform Klarpay has expanded its international payment capabilities with the launch of dedicated USD and GBP accounts.
The addition, which enables companies to collect and disburse USD and GBP payments globally via their corporate Klarpay account, comes after the company received a FINMA license to offer multi-currency accounts in 2021.
Founded in 2019, Klarpay’s Swiss IBAN corporate accounts allows businesses to transact through SEPA and SWIFT in more than 90 countries and 70 currencies via its dashboard and APIs.


The Zug-based company previously raised a US$3 million seed round in mid-2022 from Cyprus payments company Payabl and a US$1 million pre-seed round in late 2020.
Martynas Bieliauskas
“Our clients can now store funds, accept payments, and send payouts in USD and GBP in addition to using Klarpay’s extensive cross-currency payments and FX network,”
said Martynas Bieliauskas, Klarpay CEO.
]]></description><link>https://fintechnews.eu/klarpay-enables-digital-businesses-to-transact-in-usd-and-gbp-globally</link><guid>2941</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Klarpay Enables Digital Businesses to Transact in USD and GBP Globally</dc:text></item><item><title>Charlotte Crosswell Appointed as Chair of UK’s New Fintech Hub CFIT</title><description><![CDATA[The UK’s newly established Centre for Finance, Innovation and Technology (CFIT) has named Charlotte Crosswell OBE as its first Chair, starting on 4 January 2023.
Crosswell is the current Chair and Trustee of the Open Banking Implementation Entity (OBIE). Previously, she was the CEO of Innovate Finance, and the CEO of Nasdaq NLX.
She was also a board director at LCH, UK Finance and TheCityUK, and head of international business development at the London Stock Exchange Group.


Crosswell’s appointment follows a robust recruitment process, led by a diverse panel and run independently of HM Treasury and the City of London Corporation.
The CFIT’s establishment is a result of the 2021 Kalifa Review of UK Fintech, a government review of the state of fintech in the country led by Sir Ron Kalifa with key stakeholders from the fintech ecosystem.
Crosswell and the CFIT executive, to be appointed in the coming months, will consider the proposals put forth by the review committee and set out plans for CFIT’s first programmes of work.
Chris Hayward
“Charlotte brings deep and unique experience from across the fintech and financial services ecosystem. She will drive forward CFIT’s vision and ensure vital engagement with the fintech ecosystem,”
said Chris Hayward, Policy Chairman of the City of London Corporation.
Charlotte Crosswell
“I am honoured to take on the position of the first Chair of the CFIT and increase the global scale and impact of the UK fintech sector,”
said Charlotte Crosswell.
]]></description><link>https://fintechnews.eu/charlotte-crosswell-appointed-as-chair-of-uks-new-fintech-hub-cfit</link><guid>2939</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Charlotte Crosswell Appointed as Chair of UK’s New Fintech Hub CFIT</dc:text></item><item><title>BIS To Develop Scalable, Resilient and Privacy-Focused Prototype CBDC</title><description><![CDATA[The BIS Innovation Hub’s Swiss Centre has launched Tourbillon, a new project that explores improving cyber resiliency, scalability and privacy in a prototype central bank digital currency (CBDC).
Central banks have identified cyber resiliency, scalability and privacy as core features of CBDCs. However, designing them involves complex trade-offs between these three elements.
Project Tourbillon explores cyber resiliency, scalability and privacy in a prototype CBDC. Source: BIS Innovation Hub Swiss Centre
Project Tourbillon aims to reconcile these trade-offs by combining proven technologies such as blind signatures and mix networks with the latest research on cryptography and CBDC design.


The project will be designed based on the eCash 2.0 paper by researchers David Chaum and Thomas Moser, with the prototype to be finished by mid-2023.
Morten Bech
“Delivering a CBDC involves difficult trade-offs between cyber resilience, scalability and user privacy. Project Tourbillon will build and test a prototype that reconciles these trade-offs and pushes central banks’ technological frontier,”
said Morten Bech, Head of the BIS Innovation Hub Swiss Centre.
Thomas Moser
“Many central banks are researching CBDCs in the context of the digital asset transformation. I am proud to be a co-author with David Chaum on the eCash 2.0 paper, which is serving as the basis for this project,”
said Thomas Moser, Alternate Member of the Governing Board at the Swiss National Bank.
]]></description><link>https://fintechnews.eu/bis-to-develop-scalable-resilient-and-privacy-focused-prototype-cbdc</link><guid>2935</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Project-Tourbillion-BIS-Innovation-Hub.jpeg?x30842</dc:content ><dc:text>BIS To Develop Scalable, Resilient and Privacy-Focused Prototype CBDC</dc:text></item><item><title>J.P. Morgan and Mastercard Launch Pay-by-Bank Service</title><description><![CDATA[J.P. Morgan Payments and Mastercard have launched Pay-by-Bank to enable consumers to permission their financial data to be shared so they can pay bills directly from their bank account.
The service means that consumers will not need to type in their routing and account information when they make recurrding payments, such as for rent, utilities, tuition, and insurance.
Pay-by-Bank also uses Mastercard’s Smart Payment Decisioning Tools to analyse the best time to initiate the payment based on the bill payer’s historical transaction behavior and risk patterns.


It is being piloted with a small number of US-based billers and merchants this year with plans to expand in 2023.
Max Neukirchen
“Pay-by-Bank reduces the likelihood of unauthorised transactions and frees our clients from the need to retain — and the responsibility to securely maintain — consumer banking information.

We’re delighted to work with Mastercard to offer an attractive, simple and secure Pay-by-Bank solution that gives choice to our clients and their customers who use ACH as their payment mechanism,”
said Max Neukirchen, Head of Payments &amp; Commerce Solutions, J.P. Morgan Payments.
Chiro Aikat
“Billers and consumers both get greater payment choice, but the partnership also propels payments innovation on two fronts — in the ease of the user experience and in the security of data sharing,”
said Chiro Aikat, Executive Vice President, Merchants &amp; Acceptance, Mastercard North America.

]]></description><link>https://fintechnews.eu/jp-morgan-and-mastercard-launch-pay-by-bank-service</link><guid>2936</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>J.P. Morgan and Mastercard Launch Pay-by-Bank Service</dc:text></item><item><title>Baloise and UBS Increase Their Stake in Proptech Houzy</title><description><![CDATA[Swiss insurtech Baloise and UBS have increased their stake in Houzy, a proptech startup which supports owners of houses and apartments with their property-related needs.
Both Baloise and UBS invested in Houzy at an early stage and this announcement emphasises their joint ambitions in the home and living ecosystem.
Houzy helps homeowners and prospective homeowners plan and manage their property by providing recommendations for property valuations, financing, renovation planning, and other services.


Founded in 2017, Houzy has more than 110,000 registered users and is headquartered in Zurich. Baloise and UBS first invested in the company in 2020.
Sabine Magri
“The acquisition of a joint majority stake in Houzy represents another milestone in the expansion of the ecosystem partnership between UBS and Baloise. Together with Houzy, we will now work on developing new and innovative solutions for our clients,”
said Sabine Magri, COO at UBS Switzerland.
Yannick Hasler
“Following the recently announced partnership of Baloise and UBS with property transaction platform Brixel, we will draw on the respective core competencies and services of each partner in order to boost digitalisation across the entire ecosystem,”
said Yannick Hasler, Head of Private Clients at Baloise.
]]></description><link>https://fintechnews.eu/baloise-and-ubs-increase-their-stake-in-proptech-houzy</link><guid>2937</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Baloise and UBS Increase Their Stake in Proptech Houzy</dc:text></item><item><title>Adoption of Digital Assets Among Institutional Investors Increases</title><description><![CDATA[Despite turbulent conditions in the crypto markets, adoption of digital assets among institutional investors is increasing worldwide, driven by improved perception of the emerging asset class and investors’ attraction to the prospect of high returns, according to the Fidelity Digital Assets 2022 Institutional Investor Digital Assets Study.
This year’s survey, which polled more than 1,000 institutional investors in Europe, the US and Asia during the first half of 2022, found that adoption of digital assets is increasing globally this year with nearly six-in-10 (58%) institutional investors surveyed indicating investing in digital assets during H1 2022. The figure represents a six-point increase from 2021’s 52%.
Perception is also rising worldwide with positive perception on digital assets increasing six points from 2021 to 2022, and positive views of Bitcoin growing two points.


Perception of Digital Assets and Bitcoin, Source: Fidelity Digital Assets 2022 Institutional Investor Digital Assets Study, Oct 2022
Globally, a vast majority of respondents (88%) indicated finding characteristics of digital assets appealing, a figure that rose five points in the US, and two points in Europe in 2022. Like in 2021, respondents cited the high potential upside (43%), innovative tech play (41%), and the enablement of decentralization (29%) as the most appealing features of digital assets.
But perhaps most notably this year, investors showed greater interest in decentralized finance (DeFi) and yield opportunities, two features related to digital assets that are gaining appeal among institutional investors. 23% of respondents cited participation in the DeFi ecosystem as a compelling feature, up 10 points from 2021, while 17% named yield opportunities, an eight-point increase from last year.
Appeal of digital assets, Source: Fidelity Digital Assets 2022 Institutional Investor Digital Assets Study, Oct 2022
Increased interest in digital assets is also evidenced by rising intent to participate in the sector. In total, 74% of surveyed institutional investors said they planned to buy or invest in digital assets in the future, up three points from 71% in 2021.
Asia is Leading in Digital Asset Ownership
Looking at geographic trends, findings reveal that Asia maintained the leading position in digital asset ownership (69%) in 2022 and had the most affinity for digital assets (60%). Asian investors have historically had a more positive view of digital assets and have been early adopters of new digital payment methods.
The region, however, saw a slight decline in adoption and perception, down two and three points from last year, respectively.
Europe and the US, on the other hand, reported increased familiarly, improved perception, and more digital asset investments. Between the two regions, it is Europe that saw the biggest rise, recording a 11-point increase in ownership, against nine points for the US. Overall, the 2022 results put Europe on par with Asia in terms of overall adoption and positive perception.
Positive perception of digital assets, Source: Fidelity Digital Assets 2022 Institutional Investor Digital Assets Study, Oct 2022
Globally, adoption and consideration of digital assets among institutional investors are the highest among high-net-worth investors (82%), alongside crypto hedge funds and venture capital (VC) funds (87%) and financial advisors (73%).
Adoption is lower among family offices (37%), pensions/defined benefit (DB) plans (5%), traditional hedge funds (7%), and endowments and foundations (E&amp;Fs) (6%).
Global adoption and consideration of digital assets by segment, Source: Fidelity Digital Assets 2022 Institutional Investor Digital Assets Study, Oct 2022
Despite an overall increase in adoption of digital assets among institutional investors, market players also identified several challenges which they believe are hampering adoption.
Consistent with 2021’s results, price volatility (50%) was identified as the biggest barrier to investing in digital assets. The lack of fundamentals to gauge appropriate value (37%), security concerns (35%) and concerns around market manipulation (35%) are other major obstacles.
Cryptocurrencies have a long history of extreme volatility but this year’s price swings have been particularly wild. Just this week, the price of bitcoin fell to a two-year low as the market further dipped following the fall of FTX, a crypto exchange once hailed as the industry’s next success story.
Earlier this week, users and investors of FTX lost confidence in the exchange after Changpeng Zhao, CEO of Binance, liquidated about US$500 million worth of FTX’s in-house crypto token FTT and expressed skepticism about the company’s financial stability. The Twitter posts sparked a three-day bank run of an estimated US$6 billion which sent FTX into crisis.
Binance agreed to bail out FTX but the deal was eventually called off after discoveries made during “corporate due diligence” made the deal too risky.
Bitcoin and ether are down more than 20% over the last week.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/adoption-of-digital-assets-among-institutional-investors-increases</link><guid>2934</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Adoption of Digital Assets Among Institutional Investors Increases</dc:text></item><item><title>Komplett digitale und schnelle Kreditvergabe führt zu Win-Win</title><description><![CDATA[Die Digitalisierung schreitet in allen Branchen schnell voran – auch im Finanzsektor.
Online-Banking und Banking Apps gehören nun zum festen Bestandteil der meisten Schweizer Kreditinstitute. Und nicht nur die jüngeren Generationen nutzen die digitalen Angebote, sondern immer häufiger auch ältere Menschen. Daher ist es verwunderlich, dass Banken viele ihrer Angebote noch nicht digitalisiert haben.
Kunden nutzen Digital Banking hauptsächlich für alltägliche Aufgaben wie etwa Überweisungen oder das Überprüfen des Kontostands. Nicht alltägliche Bankgeschäfte dagegen werden oft in der Filiale oder am Telefon abgewickelt, da die digitalen Lösungen dafür fehlen oder sehr unpraktisch sind.


Doch gerade diese nicht alltäglichen Bankgeschäfte bieten Banken die Chance, neue Produkte zu verkaufen, ihre Kunden stärker zu binden und ihren Share of Wallet zu erhöhen. Ein gutes Beispiel hierfür sind Kredite. Laut The Business Research Company beträgt die Grösse des globalen Kreditmarktes 7,1 Mrd. $ und wächst stetig weiter.
Sei es für ein Auto, eine Immobilie oder den Traumurlaub – manchmal sind die Wünsche im Leben grösser als das Einkommen oder die Ersparnisse. Kredite – abgesehen von Dispo und Kreditkarte – sind ein finanzieller Meilenstein für jede Privatperson.
Daher wollen die Kunden an die Hand genommen, beraten und auch unterstützt werden. Gleichzeitig soll der Prozess für sie digital, leicht verständlich, einfach und vor allem reibungslos ablaufen. Für Banken sind Kreditzinsen eine wichtige Einnahmequelle. Deshalb sollte es in ihrem Interesse liegen, den Prozess der Kreditbeantragung an den Kundenwünschen auszurichten und schnellstmöglich zu digitalisieren beziehungsweise ihre vorhandenen Lösungen zu optimieren.

Status Quo zeigt grosses Optimierungspotenzial
Der Status Quo ist ernüchternd: So werden 5 von 10 Online-Kreditanträgen vorzeitig abgebrochen. Eine erschreckend hohe Zahl für die Anbieter, die zeigt, dass jede zweite Person nur Kosten verursacht und kein neues Produkt erwirbt. Wenn man bedenkt, dass europäische Banken hinsichtlich der Profitabilität ihren Pendants in Amerika oder Asien stark hinterherhinken – was auch an ihren höheren Kosten liegt – ist das alarmierend.
Aktuell dauert es laut einer Untersuchung von McKinsey für Kreditbeantragende im Schnitt eine Stunde, das Antragsformular zu bearbeiten. Die Bank benötigt ihrerseits im Anschluss vier Wochen für die Überprüfung und die weiteren Prozesse. Die Auszahlung des Kredits erfolgt dann frühestens drei Monate nach dem ursprünglichen Antrag. Das liegt daran, dass die Finanzinstitute ihre alten Prozesse suboptimal digitalisieren, anstatt das Potenzial der Digitalisierung wirklich auszuschöpfen.
Kreditanträge sind für Beantragende somit grösstenteils langwierig, kompliziert und was online begonnen wurde, kann oftmals nur per Brief oder persönlichem Termin finalisiert werden. Das bindet Mitarbeiter und steigert die Kosten. So kostet der aktuelle Prozess die Banken laut McKinsey 40 Prozent mehr, als es eine moderne digitale Lösung für Kreditanträge würde. Zugleich ist der Prozess für die Kunden aufwändig und intransparent.
Diese fehlende Kundenzentrierung sorgt für unzufriedene Bankkunden, die offen für Alternativen sind. Dies kann im schlimmsten Fall zum kompletten Verlust eines Kunden führen. Im besten Fall wechselt der Kunde nur für seinen Kredit zu einem Mitbewerber und bleibt der Bank wenigstens teilweise erhalten. Doch dann verschenkt die Bank immer noch Upselling-Potenzial. Dies ist natürlich nicht erstrebenswert und führt zu einem geringeren Umsatz bei gleichbleibenden oder sogar steigenden Kosten.
Kunden durch die digitale Antragsstrecke führen
Die Bankkunden wünschen sich heutzutage überall nahtlose digitale und transparente Prozesse – auch für ihr Banking und somit auch bei der Beantragung eines Kredits. Diese soll am PC begonnen und beispielsweise am Handy abgeschlossen werden können. Einfach, nahtlos und schnell.
Bei einer modernen digitalen Lösung für Kreditanträge, wie sie beispielsweise Backbase anbietet, wird der Bankkunde daher durch die digitale Antragsstrecke geführt, über fehlende Dokumente informiert und kann diese ganz einfach digital nachreichen. Auch digitale Unterschriften sind möglich. Bei Fragen kann er jederzeit in der Banking-App mit seinem Bankberater via Chat oder Videotelefonie kommunizieren. Während des gesamten Ablaufs wird dem Bankkunden der aktuelle Status angezeigt, so dass er jederzeit weiss, wo er im Prozess steht. Alles zusammen verbessert die Customer Experience und stärkt die Bindung zwischen dem Kunden und seiner Bank.
Eine Win-Win-Situation dank digitaler Antragsstrecken und automatisierter Entscheidungsfindung
Aber auch die Mitarbeitenden einer Bank profitieren: Sie bekommen mit einer modernen digitalen Lösung für Kreditanträge einen holistischen Überblick über Kreditbeantragende. Die Arbeitsabläufe wie Einkommensüberprüfung oder Financial Spreading laufen automatisiert ab und entlasten die Mitarbeitenden. Zugleich werden Risiken und Fehler auf ein Minimum reduziert.
Weitere Dokumente können sie ganz einfach direkt im Chat bei den Antragstellenden anfragen. Diese kontinuierliche Kommunikation ist genauso wichtig wie die Transparenz. Antragstellende fühlen sich während des Prozesses gut betreut und wissen jederzeit, welcher Schritt nun als nächstes folgt. Das senkt das Risiko, dass der Antrag vorzeitig abgebrochen wird und sich potenzielle Kunden nach einer Alternative umsehen.
Sind alle Finanzdaten digital erfasst, analysiert und ausgewertet, alle Dokumente eingereicht und digital signiert, erhält der Kunde eine Benachrichtigung. So dauert es von Antragsstellung bis hin zur Genehmigung im Idealfall gerade mal 30 Minuten. Eine Revolution, wenn man bedenkt, wie lange ein Papierdokument von der Erstellung bis hin zur Unterschrift und zurück unterwegs ist.
Reibungslose digitale Antragsstrecken für die Antragsstellenden und Automatisierungen bei der Prüfung sind bereits heute Realität bei vielen innovativen Finanzinstituten. Die Prozesse dort basieren auf einer modernen Lösung und sorgen für zufriedene Kunden; mehr Abschlüsse und geringere Kosten stärken die Bank.
Eine Win-Win-Situation.
]]></description><link>https://fintechnews.eu/komplett-digitale-und-schnelle-kreditvergabe-fuhrt-zu-win-win</link><guid>2932</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Komplett digitale und schnelle Kreditvergabe führt zu Win-Win</dc:text></item><item><title>DACH Insurtech Industry Has Grown 45% Over the Past Year</title><description><![CDATA[In Germany, Austria, Switzerland and Liechtenstein, also referred to as the DACH region, the insurtech space is growing at a promising pace. Over the past year, the sector has increased by 45%, rising from 141 players in March 2021 to now 202, data from the Insurtech Map show.
All major segments including marketing and distribution, infrastructure and claims and customer service, grew in size. Marketing and distribution, the region’s most crowded insurtech category, increased 54.9% to 79 companies, up from 51 in 2021; infrastructure, the second largest, grew to 64 companies, up 36% from 47 in 2021; and claims and customer service, the third biggest, rose 44% to 39 companies, up from 27 in 2021.
Claims and customer service, infrastructure and marketing and distribution, Source: Insurtechmap.eu, Nov 11, 2022
Though more modestly, product development and pricing and underwriting expanded as well, rising 18.8% to 19 companies.


Product development and pricing and underwriting, Source: Insurtechmap.eu, Nov 11, 2022
Interestingly, the past year saw the emergence of a new category: asset management. The segment currently comprises three companies: SynoFin, a risk management provider based in Luxembourg; Ryskex, a German company providing a blockchain-based ecosystem for alternative risk transfers and insurance solutions; and Balance Re, a provider of reinsurance solutions to life insurance companies based in Germany.
Asset management, Source: Insurtechmap.eu, Nov 11, 2022
Germany leads DACH region in insurtech innovation
With 132 insurtech companies, Germany has the largest insurtech startup ecosystem of the group. Players include Yas.life, a company developing digital health services for traditional insurers and corporate health management companies; Mailo, which provides individual, tailor-made insurance for occupational groups; and Yoursurance, an online comparison platform for insurance companies.
After Germany, Switzerland is home to second biggest insurtech startup community with 55 ventures. Names and brands include Versicherix, a company providing tools and services for anyone to create custom insurance policies; Deon Digital, a company leveraging cutting-edge technology to turn paper contracts into automatically managed digital contracts; and Stonestep, a “microinsurance-as-a-service” provider serving global partners.
With 13 insurtech companies, Austria has the third largest pool of Dach insurtech startups, among which Sophia, a personal insurance broker; Medicus, an AI-based data analytics platform that interprets and converts medical and health data into interactive, personalized experiences; and Bsurance, a white-label business-to-business-to-consumer (B2B2C) insurtech helping partners provide their customers with fair and relevant protection at the point of need.
Finally, Liechtenstein has the smallest sector of the bunch with just four startups. Alongside SynoFin, these are Prosperity Brokershome, a digital services platform for insurance brokers; Cashyou, a factoring solution that finances remuneration agreements between brokers and end customers; and Digital Finance Life, a company specializing in product development for life insurance products.
Automation and process digitalization as the most prevalent technology
An analysis of the technologies these startups leverage shows that process digitalization/automation/robotics is the most prevalent technology used by DACH insurtech startups, with 145 companies relying on it. Process digitalization/automation/robotics is followed by analytics and AI with 44 companies, distributed ledger technology (DLT) with eight, and the Internet-of-Things (IoT) with seven.
Launched in March 2021, the Insurtech Map is an initiative of industry trade group House of Insurtech Switzerland, Swiss startup incubator and accelerator F10, and startup program and innovation platform Kickstart Innovation.
The interactive map aims to provide a comprehensive view of DACH’s insurtech ecosystem, highlighting the startups that are leveraging cutting-edge technology to bring greater efficiency and enhanced experiences across the insurance value chain.
Players that have recently been added to the database include Enzo, a German company providing homeowners with modern and holistic protection; Ledgertech, a Swiss company providing a low code/no code insurtech platform; Tigerlab, an embedded insurance specialist from Switzerland; Valu-X, a German insurtech company providing a white-label platform for tailored marketing; and Balance Re from German.

Featured image credit: Edited from freepik here and here
]]></description><link>https://fintechnews.eu/dach-insurtech-industry-has-grown-45-over-the-past-year</link><guid>2933</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/11/Claims-and-customer-service-infrastructure-and-marketing-and-distribution-Source-Insurtechmap.eu-Nov-11-2022.png?x30842</dc:content ><dc:text>DACH Insurtech Industry Has Grown 45% Over the Past Year</dc:text></item><item><title>Splint Invest sichert sich 500’000 Franken in der «Die Höhle der Löwen»</title><description><![CDATA[Das Zuger Wealhtech-Startup Splint Invest konnte sich bei der Schweizer Ausgabe von «Die Höhle der Löwen» ein Investment von 500’000 Franken sichern.
Mit der gleichnamigen App ermöglicht das Team rund um die Solothurner Gründer Mario von Bergen, Robin Muster und Aurelio Perucca bereits ab Kleinstbeiträgen eine Diversifizierung des eigenen Portfolios mit alternativen Anlagen wie Uhren, Wein, Whiskey oder anderen Luxusgütern. Das neu gewonnene Kapital wird unter anderem für die Expansion in den DACH-Raum, den Ausbau des Teams und die Erschliessung neuer Anlageklassen eingesetzt. Das Unternehmen plant aktuell zudem die Lancierung eines Sekundärmarktes.
In der heute ausgestrahlten Folge der Schweizer Ausgabe von «Die Höhle der Löwen» konnte das Unternehmen der drei Solothurner Gründer Mario von Bergen, Robin Muster und Aurelio Perucca gleich drei Löwen überzeugen: Zusammen investieren Jürg Schwarzenbach, Lukas Speiser und Patrick Mollet 500’000 Schweizer Franken in Splint Invest. Gedreht wurde die Episode im März 2022.


Erweiterung der Investitionsmöglichkeiten und Expansion in den gesamten DACH-Raum
Einen Teil des gewonnenen Kapitals konnte das Startup in den vergangenen Monaten bereits für die Erweiterung der Investitionsmöglichkeiten sowie für den Ausbau und die Diversifizierung des Teams einsetzen. Mit Erfolg: Die Investmentplattform für alternative Anlagen hat seit dem Dreh der Sendung bereits 5’000 zusätzliche User gewonnen.
Das restliche Kapital soll nun für die Erschliessung neuer Anlageklassen sowie die Expansion in den DACH-Raum eingesetzt werden. Das Unternehmen plant zudem die Lancierung eines Sekundärmarktes, wo gehaltene Anteile von ihren Usern vorzeitig angeboten und verkauft werden können.
Aurelio Perucca
«Die 500’000 Franken haben es uns ermöglicht, stark zu wachsen und den Auftritt von Splint Invest deutlich zu professionalisieren. Zudem dürfen wir vom grossen Erfahrungsschatz und dem Netzwerk unserer Investoren profitieren, was uns immens freut,»
erklärt Aurelio Perucca, CEO von Splint Invest.

]]></description><link>https://fintechnews.eu/splint-invest-sichert-sich-500000-franken-in-der-die-hohle-der-lowen</link><guid>2931</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Splint Invest sichert sich 500’000 Franken in der «Die Höhle der Löwen»</dc:text></item><item><title>El Salvador and Switzerland Share Common Love of Burgers and Bitcoin</title><description><![CDATA[El Salvador has partnered with the Swiss city of Lugano to promote bitcoin adoption. It’s an unlikely partnership and an obscure reason to join forces, but for both parties this is an earnest and worthwhile endeavour.
The glue that binds the Central American country with Lugano is Tether, a company that mints stablecoins – digital currencies backed by traditional financial assets, designed to dampen wild fluctuations in value.
Tether and El Salvador formed an alliance in 2021 to re-engineer the country’s payments system. In March of this year, Tether and Lugano co-founded the ‘Plan B’ project to encourage shops and consumers to use cryptocurrencies.


McDonald’s is one of 60 merchants in Lugano to accept bitcoin and the city wants to raise that number to 1,000 in the next six months.
Crypto Nation magnet
It’s difficult to tell right now if the partnership with El Salvador is largely symbolic or if an exchange of support and ideas can generate anything of consequence.
But it seems clear that Switzerland’s growing reputation as ‘Crypto Nation’, rolling out the red carpet for crypto and blockchain technology, had some bearing on El Salvador’s interest.
Milena Mayorga
“We share a love for innovation and bold ideas,”
said El Salvador’s Ambassador to the United States, Milena Mayorga.
Switzerland would love others to express the same admiration and to choose the Alpine state as headquarters for their blockchain projects.
But there is growing competition to attract the cream of blockchain technology.
The competition
Dubai is moving at lightning speed to become the world’s number one blockchain hub. Singapore has adopted a similar strategy to Switzerland. Germany and France are working hard in Europe and Britain also has aspirations in this area.
The US, particularly Silicon Valley, New York and Miami, is determined to make the most of its position as the world’s leading economic power.
Who will win the race or at least establish themselves as a serious player alongside other blockchain hubs?
This is the subject of a recorded a ‘Let’s Talk’ studio debate hosted by SWI swissinfo.ch with contributions from Switzerland, Dubai and the US.
I was also part of a panel that delved into the potential opportunities and pitfalls of attracting this revolutionary business.
The debate explores the conditions that are necessary to become a global blockchain hub and asks what the future will bring. Do give it a watch.
]]></description><link>https://fintechnews.eu/el-salvador-and-switzerland-share-common-love-of-burgers-and-bitcoin</link><guid>2930</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>El Salvador and Switzerland Share Common Love of Burgers and Bitcoin</dc:text></item><item><title>The Rise of IDtech: Next-Gen Digital Identity Verification</title><description><![CDATA[A revolution is taking place in the field of digital identity, driven by advances in technology, rapid adoption of digital tools and online channels, and soaring identity fraud activity.
So-called IDtech providers are arising on the back of COVID-19 and leveraging technologies and principles including biometrics and decentralization to bring digital identity to the next level, says Riley Hughes, co-founder and CEO and Trinsic, an infrastructure for building decentralized identity products using digital wallets and verifiable credentials.
In a guest post on Forbes, Hughes introduces the emerging IDtech industry, arguing that the convergence of factors including technological developments and accelerated digital adoption brought about the pandemic has led to a surge of new-age digital identity and verification companies.


Firms like Clear Secure, Merit and Airside are empowering users to take control of their identity, share their data safely and more securely access the things they need, Hughes says, helping streamline millions of consumers’ lives, whilst maintaining the elevated levels of security that people and organizations expect.
Clear Secure is an American technology company that operates biometric a travel document verification system at major US airports and stadiums. The system uses both fingerprint and iris identification technology to confirm a traveler’s identity.
Incode Technology is another American identity solution provider that makes use of biometrics. The company applies artificial intelligence (AI), machine learning (ML), computer vision and facial recognition to create a secure and privacy-enabled identity verification process that eliminated the need for documentation. Using biometrics as the primary means of verification implies that authentication is streamlined.
And because it also uses advanced risk measurement techniques such as identification (ID) document liveness detection, biometric facial profiling and data mismatches, Incode Technology is able to reduce fraud attempts by up to 99%.
Merit, formerly known as Sigma, is a verified identity ecosystem for trusted organizations and individuals. It offers a universal clearinghouse for verified identity and provides licensing and certification verifications for everyone. Agencies and industries benefit by having a common standard to check credentials and compare qualifications. Individuals, meanwhile, benefit by having all their licenses and credentials in one place. They also get notified when it’s time to renew.
And, Airside builds digital identity technology that focuses on protecting users’ personal information and meeting privacy regulations around the world. Users remain in control of their personal information at all times with transparent consent protocols, and businesses can protect against fraud, reduce the burden of complying with privacy regulations and ensure that sensitive information are managed appropriately.
Airside’s first product, the Airside Mobile Passport App, has enabled 10 million US and Canadian passport holders to streamline their international journey through most major US airports and cruise ports.
airside mobile passport
Data breaches and identity fraud running rampant
These new digital identity solutions have risen in popularity over the past few years, fueled by the COVID-19 pandemic and the ensuing shift to online channels, Hughes says. And with IDtech products getting easier to build, and as the world continues to digitize, new startups and solutions will continue to emerge, he says, introducing new techniques and ways to prove one’s identity swiftly and accurately.
These developments come on the back of an evolving cybercrime landscape with data breaches and privacy incidents running rampant.
In the US, the 2017 Equifax data breach saw the private records of 147.9 million Americans, along with 15.2 million British citizens and about 19,000 Canadian citizens, being compromised. Information accessed in the breach included first and last names, US Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers.
Most recently, a cyberattack targeting Australia’s second largest telco company, Optus, exposed the personal details of almost ten million customers, including their names, dates of birth, phone numbers, email addresses, addresses, as well as ID document numbers such as driver’s license and passport numbers.
In 2018, a group of technology, finance and healthcare companies came together to form the Better Identity Coalition, an American organization focusing on developing a set of consensus, cross-sector policy recommendations that promote the adoption of digital identification systems.
These organizations, which include JPMorgan Chase, Mastercard, Experian, Microsoft, and LexisNexis, believe that, if widely adopted, the technology could cut down on massive regulatory costs involved in identity verification and legal costs following breaches.
In 2021, traditional identity fraud losses, caused by criminals illegally using victims’ information to steal money, exploded in the US to US$24 billion. The amount represents an alarming 79% increase over 2020, according to the 2022 Identity Fraud Study by Javelin Strategy &amp; Research. Further, the number of adults in the US impacted by this type of fraud grew more than 50%, reaching over than 15 million victims.
Losses from identity fraud scams, in which a fraud operator influences a victim to divulge or expose their personal information, added another US$28 billion in impact and victimized an additional 27 million US adults.
Taken together, identity fraud total US$52 billion and affected 42 million US adults.
Digital identity is a booming sector that’s projected to see total revenue double within the next five years. A 2022 study from Juniper Research expects revenue for digital identity vendors to exceed US$53 billion globally in 2026, soaring from just US$26 billion in 2021.
Increased demand for digital onboarding frameworks and improved fraud mitigation will drive much that growth, the firm says.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/the-rise-of-idtech-next-gen-digital-identity-verification</link><guid>2929</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>The Rise of IDtech: Next-Gen Digital Identity Verification</dc:text></item><item><title>Zurich Insurance Launches Global API Marketplace With 50 Open APIs</title><description><![CDATA[Zurich Insurance Group has launched Zurich eXchange, a global API marketplace that brings together services from across the Zurich Group.
The shared API management platform has been adopted by 15 Zurich business units and currently covers 1,433 managed APIs, with more than 63 million API-enabled transactions per month.
The platform also offers 50 open APIs for customers, distributors and partners to connect digitally with Zurich and integrate new Zurich insurance products into their own digital channels.


Through these APIs, for example, Zurich is enabling its commercial claims customers to seamlessly access their latest claims data and policy documents digitally at any time.
Ericson Chan
“The launch of Zurich eXchange marks an important milestone: it enables partners and business to seamlessly integrate with our products and services, and promotes innovation to deliver real value for our customers,”
said Ericson Chan, Group Chief Information and Digital officer, Zurich.
Frank Verkerk
“While APIs aren’t new, Zurich eXchange demonstrates Zurich is serious about doing digital business. By collecting our APIs in one place, they can be shared more effectively both across Zurich and with our customers and partners,”
said Frank Verkerk, Group Chief Platform Officer, Zurich.
]]></description><link>https://fintechnews.eu/zurich-insurance-launches-global-api-marketplace-with-50-open-apis</link><guid>2928</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Zurich Insurance Launches Global API Marketplace With 50 Open APIs</dc:text></item><item><title>UBS Launches the World’s First Dual-Blockchain Listed Digital Bond</title><description><![CDATA[UBS has launched the world’s first digital bond — a CHF 375 million three-year bond with 2.33% coupon — that is publicly traded and settled on both blockchain-based and traditional exchanges.
The digital bond will be dual listed at SDX Trading and SIX Swiss Exchange and will be eligible for the Swiss Bond Index (SBI) alongside all other UBS senior unsecured notes which are listed on SIX.
The bond settles via SIX Digital Exchange (SDX) distributed ledger-based central securities depository (CSD) network through atomic settlement technology.


Settlement via SDX CSD is instant and automatic and does not require a central clearing counterparty. Investors will be able to automatically settle and clear the digital bond on SDX CSD directly or on SIX SIS.
Beatriz Martin
“We are proud to leverage distributed ledger technology to launch the inaugural UBS digital bond. UBS is committed to using technology not just as an enabler, but to making it a true differentiator for UBS,”
said Beatriz Martin, UBS Group Treasurer.
David Newns
“The dual-listed, natively digital bond, developed in close cooperation with SIX Swiss Exchange and SIX SIS simplifies the digital bond issuance process on SDX whilst simultaneously maximising market reach through the connectivity between SDX’s blockchain based platform and SIX’s traditional infrastructure,”
siad David Newns, Head of SIX Digital Exchange.
]]></description><link>https://fintechnews.eu/ubs-launches-the-worlds-first-dual-blockchain-listed-digital-bond</link><guid>2927</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>UBS Launches the World’s First Dual-Blockchain Listed Digital Bond</dc:text></item><item><title>neon Raises CHF 11 Million From Institutional and Crowdfunding Investors</title><description><![CDATA[Swiss neobank neon has closed last week a  CHF 11 million financing round from existing investors and some 5,000 investors through its crowdfunding campaign.
Investors in the crowdfunding campaign which ran from October 24 to 31 invested at an average of CHF 1,750 in return for neon shares in the form of tokenised participation certificates.
The crowdfunding campaign, which offered two to 250 non-voting shares priced at CHF 200.00 per share, raised CHF 5 million from 2,000 investors on its first day.


neon also raised a CHF 2.5 million funding round from institutional investors in September. The company says that it aims to be profitable and no longer dependent on external capital after this round.
Founded in 2017, neon recent milestones include reaching 130,000 customers, generating CHF 3.5 million in revenue year to date, and making this year’s TOP 100 Swiss Startup Awards rankings.
Jörg Sandrock
“On the one hand, the capital increase is intended to make neon even better as a product and to continue the successful development of the company.

On the other hand, the capital increase has the clear goal of making neon independent of external capital through new products and the achievement of profitability,”
said Jörg Sandrock, CEO and Co-Founder of neon.
]]></description><link>https://fintechnews.eu/neon-raises-chf-11-million-from-institutional-and-crowdfunding-investors</link><guid>2926</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>neon Raises CHF 11 Million From Institutional and Crowdfunding Investors</dc:text></item><item><title>Swiss Roboadvisor True Wealth Finally Offers also a Pillar 3a Solution</title><description><![CDATA[Saving in Pillar 3a becomes an integrated part of wealth management within True Wealth.
Since being founded in late 2014, True Wealth has grown to become an established wealth manager in Switzerland in just eight years. The fintech company currently manages assets for around 12’500 clients, while the volume of invested assets is around CHF 800 million. In 2021, the assets under management doubled and the number of clients increased by around 80 percent.
The company’s founders, Oliver Herren and Felix Niederer, set new standards in online wealth management from the very beginning. On the one hand, with the now award-winning technology, which makes wealth management simple, direct, understandable and self-determined. On the other hand, through the underlying idea of True Wealth, that clients benefit to the maximum: Thanks to digitalisation and a high degree of automation, costs and fees are able to be kept very low.


Private retirement savings newly integrated
True Wealth is now consistently pursuing this path. With immediate effect, private retirement savings, which are possible in Switzerland on a tax-optimised basis with the so-called Pillar 3a, will be fully integrated into asset management. At True Wealth this is free of charge: There are no management fees for clients. Moreover, the interest rate of 1.0 percent on the cash portion of the Pillar 3a is unrivalled.
Felix Niederer
Felix Niederer, founder and CEO of True Wealth:
«Payments into the Pillar 3a can be deducted from taxable income. The state thus forgoes tax revenue in order to provide an incentive for free pension provision. It is important that this money can go directly to the savers and not into the pockets of the finance and insurance industry.»
Back to savings interest
At True Wealth, there is no custody fee, no postage and no service fee. Portfolio rebalancing, which is important for diversification, is also free of fees. Due to the technology and investment approach, there are no conflicts of interest in investment decisions at True Wealth. As always, asset management is transparent and independent in Pillar 3a.
Oliver Herren
Oliver Herren, founder of True Wealth:
«Our goal is to enable our clients to build up their assets over the long term; thanks to our technology, this is possible in an extremely cost-effective manner. With Pillar 3a, we go one step further: We offer private retirement planning free of charge. And saving is worthwhile again because our customers benefit from an interest rate that none of our competitors can match.»
The implementation is done with cost-efficient ETFs and index funds.

New simple approach within True Wealth
Until now, saving in Pillar 3a was associated with unnecessary effort. It required a separate 3a retirement savings account, a special risk profiling for Pillar 3a, a separate investment strategy, a separate software application – and savers would have to take care of the annual deposits and deal with the issue of tax. All of this is no longer necessary with True Wealth’s 3a solution, which is integrated into its holistic asset management. Clients will always automatically benefit from the annual 3a tax advantage.
Private retirement planning becomes simple and maximises time savings. True Wealth clients configure the 3a portion within their asset management individually. When the Pillar 3a offer is activated, they automatically receive a set of five retirement savings accounts. With ongoing payments, the accounts are invested in stages over the years to ensure maximum flexibility when withdrawing capital at a later stage. Even when capital is transferred free of charge from other providers, investments are made in a separate retirement account to maintain flexibility for staggered withdrawals.
True Wealth’s algorithm ensures that the securities are distributed as evenly as possible across the various accounts. This results in significant tax optimisation at the time of retirement: Accounts can be closed in a staggered manner and spreading the retirement assets often allows the burden of progressive capital payment tax to be significantly reduced.
]]></description><link>https://fintechnews.eu/swiss-roboadvisor-true-wealth-finally-offers-also-a-pillar-3a-solution</link><guid>2925</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Swiss Roboadvisor True Wealth Finally Offers also a Pillar 3a Solution</dc:text></item><item><title>Corporate Spending Management Emerges as One of the Hottest Fintech Segments</title><description><![CDATA[Spending management software and corporate credit cards have emerged as one of the hottest segments in the fintech industry. The sector is capturing large rounds of funding from global investors and competition for market share is heating up, especially in the US and Europe.
Popular fintech newsletter Fintech Wave highlighted the trend in its 49th edition on September 27, 2022, stressing that the space was getting crowded by the day with new products being launched on a regular basis.
American human resources (HR) platform Rippling, for example, launched last month its spending management platform and corporate credit card.


Rippling expense management platform, Source: Rippling
In the United Arab Emirates (UAE), Pemo introduced in May an all-in-one spend management platform featuring digitized invoices, automated approval flows, one-click invoice payments and real-time cash flow monitoring. Three months after, it added physical and virtual Visa payment cards to its spend management solution.
Corporate spending is a massive market which Fintech Wave estimates is worth some US$100 trillion. The space is poised for disruption, given that expense management processes remain mostly manual, making them clunky, resource-intensive and prone to errors.
Funding activity picks up
The past years have seen huge amounts of funding being poured into the field, especially to digital-first corporate card startups such as Ramp, Pleo and Jeeves. All three reached unicorn status over the past year after securing mega-rounds of US$100 million and over.
In 2021, more than US$2.8 billion were invested in the segment, data from Dealroom show, and 2022 started even stronger with US$1.6 billion secured in just the first four months of the year.
Corporate expense management funding, Source: Dealroom, May 2022
Large deals kept coming in throughout the year. Just a few weeks ago, TripActions, a US-Israeli travel, corporate card and expense management company, secured a massive US$304 million Series G at a post-money valuation of US$9.2 billion. The startup said it would use the proceeds to fuel its expansion, which it had been working towards with recent acquisitions of travel management companies Reed &amp; Mackay, Comtravo, and Resia.
Days later, US-based software-as-a-service (SaaS) platform WeTravel closed a US$27 million Series B for its business travel management and payment services. WeTravel helps travel businesses digitize their travel booking processes, offering integrated payment solutions and a peer-to-peer (P2P) payment network allowing businesses to control money movement, refunds, disputes and traveler transactions, charging 1% in transaction fees.
A crowded space
The US has a very competitive spend management and corporate credit card sector, which Fintech Wave claims more than 20 companies are currently competing in.
Market leaders include Brex, a fintech unicorn worth US$12.3 billion that claims more than 50,000 corporate customers, Divvy, a company owned by Bill.com that serves over 115,000 clients, and Expensify, a publicly traded company that claims 711,000 paying corporate clients.
Top corporate spending solutions in the USA, Source: Fintech Wave, 2022
Europe also has a rather crowded corporate spending and credit card space with several highly capitalized players.
Payhawk, a UK-headquartered startup, has secured a total of US$236.5 million in funding and is valued at US$1 billion, data from CB Insights show.
The company, which claims to operate one of the fast-growing spend management platforms, expanded to the US in September after witnessing a record year of growth with revenue soaring by over 520% and employee headcount by more than 250%.
Payhawk dashboard, Source: Payhawk
In France, Paris-headquartered Spendesk has closed more than US$300 million in funding and is worth US$1.5 billion.
The company, which provides small and medium-sized enterprises (SMEs) with a full-fledged corporate spending solution, including corporate cards, invoice payments, expense reimbursements, reporting and compliance, says that more than EUR 3 billion of spend was managed on the Spendesk platform in 2021. It claims to double its revenue each year.
Spendesk dashboard, Source: Spendesk
Swiss startup Yokoy has developed a solution to automate all AP processes from invoice capture to payment. This saves time and money and improves financial control and visibility.
The company has recently raised US$80 million in a financing round led by Sequoia Capital.
Software provider Abacus has seen efficiencies in offering expense management solutions, harnessing artificial intelligence to streamline expense processing workflows.
Abacus’ expense processing solutions are designed to save businesses time and money by automating the entire expense management workflow – from data entry and approval to reimbursement.
Total revenue generated by travel and expense management software is projected to reach US$16 billion globally by 2027, up from US$8.7 billion in 2022, Juniper Research forecasts. Growth will be driven by demand for advanced tech-enabled management solutions amid rising risks of employee expense fraud.
Featured image credit: Edited from psd.graphics
]]></description><link>https://fintechnews.eu/corporate-spending-management-emerges-as-one-of-the-hottest-fintech-segments</link><guid>2924</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Corporate Spending Management Emerges as One of the Hottest Fintech Segments</dc:text></item><item><title>Climate Fintech Funding Soars, Totaling US$1.8B in H1 2022</title><description><![CDATA[CommerzVentures, the corporate venture capital (CVC) arm of Commerzbank in Germany, has released its latest report on climate fintech, sharing findings of an analysis of 528 climate fintech startups across Europe and the US with scalable business models to provide an overview of the sector’s growth across geographies, sub-sectors and funding stages.
The Climate Fintech H1 2022 Update, released in October, points out to a fast-evolving climate fintech ecosystem that’s marked with increasing maturity, soaring VC funding activity, and the rise of new, exciting sub-sectors like natural capital accounting and decentralized finance/climate (DeFi x climate).
H1 2022 was a record-breaking period for climate fintech funding, data from the report show, with total funding raised amounting to US$1.8 billion. The sum represents already 1.5 times what was secured by climate fintech companies during the whole year 2021, the report notes, and underscores the “extraordinary momentum of the space”, especially considering this year’s downturn in fintech funding.


Climate fintech funding volume in US$m, Source: Climate Fintech H1 2022 Update, CommerzVentures, Oct 2022
Europe leads in climate fintech funding
In H1 2022, Europe surpassed the US significantly in climate fintech funding and deal count, with companies in the region securing 3.5 times more VC funding and 3 times more funding rounds than those in the US.
European climate fintech companies raised a total of US$1.4 billion in 48 rounds during the period, against US$401 million through 15 deals for the US.
Climate fintech funding volumes and deals in the EU vs the US in US$m, Source: Climate Fintech H1 2022 Update, CommerzVentures, Oct 2022
Within Europe, France took the lion’s share, attracting the most funding in H1 2022 with US$733 million. This was mainly driven by the US$500 million growth financing closed by EcoVadis, a French carbon accounting platform.
France was followed by the UK with US$426 million, Finland with US$136 million, and Denmark with US$35 million.
Climate fintech funding by country (top 10) in US$m, Source: Climate Fintech H1 2022 Update, CommerzVentures, Oct 2022
A maturing sector
Looking at startup funding stages, the analysis found that the climate fintech industry is maturing, with an increasing number of later stage rounds being closed. In H1 2022, 30% of financing recorded were Series B rounds or later, a proportion that represents a threefold increase compared to 2021.
Funded climate fintech companies by stage, Source: Climate Fintech H1 2022 Update, CommerzVentures, Oct 2022
Such rounds included EcoVadis’ US$500 million Series C, Deepki’s US$166 million Series C, Descartes Underwriting’s US$120 million Series B and Sweep’s US$73 million Series B.
Deepki is an environmental, social and governance (ESG) data intelligence platform for the real estate sector; Descartes Underwriting is a parametric insurance provider against climate risks; and Sweep helps businesses track their carbon emission.
Carbon accounting continues to be the preferred sub-sector
In H1 2022, carbon counting continued to be the most attractive space for VCs in climate fintech, with companies in space securing a total of US$673 million in raised funds.
Climate risk management came in second with S$385 million, and carbon offsetting, third with US$245 million.
Climate fintech funding volume in US$m by space, Source: Climate Fintech H1 2022 Update, CommerzVentures, Oct 2022
The period also saw new segments starting to attract the interest of investors. DeFi x climate and natural capital accounting are two emerging sub-sectors that secured their first rounds of funding in H1 2022, closing a total of US$73 million and US$17 million, respectively.
DeFi x climate is a nascent category that comprises startups building the infrastructure and the tools for the tokenization of carbon. Startups in this space include Toucan, a company that allows anybody to tokenize their carbon credits, and Single.Earth, a platform where users can trade natural resources as tokenized virtual goods, as well as carbon credits and biodiversity offsets.
Natural capital accounting is another new category that includes companies enabling the analysis and monitoring of biodiversity. Such companies include Natural metrics, a developer of molecular methods for biodiversity monitoring, and Cecil, a company that provides a platform for natural asset management.
Building on the vibrant VC market of H1 2022, CommerzVentures expects the climate fintech industry to continue witnessing explosive growth in 2023 and maturing. Later stage rounds should increase in volume and number, especially in more developed segments like climate risk management, carbon offsetting and carbon accounting, the report says. Additionally, more developments will occur in new categories including DeFi x climate as more companies enter the space and leverage Web3 infrastructure to build innovative solutions, it concludes.
Climate fintech, a cross-cutting sector covering the intersection of climate, finance and digital technology, has quickly picked up momentum over the past few years. Total funding in 2021 surpassed the billion mark to reach US$1.2 billion, a figure that’s three times higher than all previous years combined, according to CommerzVentures.
In the domain, Europe has risen to leadership, now hosting more climate fintech companies than any other region and securing much of the capital that’s being injected into the sector.
Part of the reason for Europe’s burgeoning climate fintech ecosystem is the region’s progressive top-down climate finance policy-making, according to an earlier report by Swiss fintech and insurtech startup incubator and accelerator F10.
Such initiatives include the European Green Deal, a set of policy initiatives approved in 2020 with the overarching aim of making the European Union (EU) climate neutral in 2050, as well as the implementation of the Sustainable Finance Disclosures Regulation (SFDR), which mandates climate disclosures by companies.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/climate-fintech-funding-soars-totaling-us18b-in-h1-2022</link><guid>2923</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Climate Fintech Funding Soars, Totaling US$1.8B in H1 2022</dc:text></item><item><title>Finnova Hires Soccer Expert Samuel Scheidegger as Chief Product Officer</title><description><![CDATA[Banking software provider Finnova has appointed digital firm ti&amp;m’s Samuel Scheidegger as its new Chief Product Officer, effective 1 February 2023.
Scheidegger succeeds Simon Kauth, who moves on from his role as Finnova’s Chief Product Officer to take on a new role at Luzerner Kantonalbank.
He previously spent seven years at ti&amp;m in various roles, most recently as head of products for banking innovations and new markets, and as an executive board member.


In this role, he was responsible for setting product strategy, product management, and product marketing in banking innovations and digital banking platforms.
After studying engineering, Scheidegger worked at banking institutions such as Julius Baer and Baloise Bank SoBa. He is also vice president of the Swiss Football Association.
]]></description><link>https://fintechnews.eu/finnova-hires-soccer-expert-samuel-scheidegger-as-chief-product-officer</link><guid>2921</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Finnova Hires Soccer Expert Samuel Scheidegger as Chief Product Officer</dc:text></item><item><title>Finnova Hires ti&amp;m’s Samuel Scheidegger as Chief Product Officer</title><description><![CDATA[Banking software provider Finnova has appointed digital firm ti&amp;m’s Samuel Scheidegger as its new Chief Product Officer, effective 1 February 2023.
Scheidegger succeeds Simon Kauth, who moves on from his role as Finnova’s Chief Product Officer to take on a new role at Luzerner Kantonalbank.
He previously spent seven years at ti&amp;m in various roles, most recently as head of products for banking innovations and new markets, and as an executive board member.


In this role, he was responsible for setting product strategy, product management, and product marketing in banking innovations and digital banking platforms.
After studying engineering, Scheidegger worked at banking institutions such as Julius Baer and Baloise Bank SoBa. He is also vice president of the Swiss Football Association.
]]></description><link>https://fintechnews.eu/finnova-hires-tims-samuel-scheidegger-as-chief-product-officer</link><guid>2922</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Finnova Hires ti&amp;m’s Samuel Scheidegger as Chief Product Officer</dc:text></item><item><title>UK, Sweden Emerge as Best Fintech Ecosystems in Europe</title><description><![CDATA[In Europe, fintech activity is growing in virtually all countries, but performance and maturity levels are found to be the greatest in the UK and Sweden, the two countries that are now leading the region for the size of their respective fintech industry, fintech funding, the number of unicorns they house and their fintech workforce, a new analysis by McKinsey found.
Looking at five key performance indicators, namely the number of fintech companies and unicorns each country has, fintech funding activity and deal counts, as well as the size of the fintech workforce, as of 2021, the study found that the UK and Sweden are significantly outperforming their European peers across all these critical performance areas.
They rank at the top of the list, ahead of Malta, Luxembourg and Switzerland, which score high in some areas but fall short in others (workforce for Malta, fintech funding for Luxembourg and unicorn count for Switzerland).


Fintech performance across European countries, Source: Europe’s fintech opportunity, McKinsey, Oct 2022
The UK, Sweden, Malta, Luxembourg and Switzerland are followed by Estonia, Ireland, the Netherlands and Denmark. Together, they make up the top third of the list of countries studied.
Estonia and Ireland perform remarkably well in terms of fintech deal count and the size of their fintech community. They, however, lack fintech unicorns.
The Netherlands, on the other hand, score highly in the number of billion dollar fintech companies it has, as well as in the size of its fintech workforce. But it performs relatively poorly in fintech company founding, as well as in fintech deal count.
Finally, Denmark ranks relatively high in fintech funding and deal activity, but underperforms in the size of its fintech workforce. It also has a relatively low count of fintech unicorns.
These nine countries surpass Germany, Cyprus, Lithuania, Finland, Austria, France, Latvia, Spain, Belgium and Portugal, which make up the second-third of the ranking.
Germany has a relatively large fintech workforce but has a low count of unicorns when taking into account the size of its population.
Cyprus has a vibrant fintech startup scene and a considerable fintech workforce, but underperforms in fintech funding activity.
Lithuania performs well in fintech deal count, but performs moderately in the size of its workforce and fintech funding sum.
Finland and France, meanwhile, score in the average range across all major areas.
The bottom third of the ranking is made up of Italy, Hungary, Slovenia, Czech Republic, Croatia, Poland, Greece, Bulgaria, Romania and Slovakia. Most of these countries have relatively small fintech industries, limited funding activity, and do not have any fintech unicorn.
Ranking by relative strength for ve KPIs along the three ntech growth path stages, Source: Europe’s fintech opportunity, McKinsey, Oct 2022
Evidently, findings of the study show a wide divergence of maturity and performance among fintech ecosystems by European country, with substantial gaps between the top one-third and the rest.
If fintech ecosystems in all European countries were able to reach the same level of performance as the best-in-class nations in the region, the upside could be substantial, the report says.
The number of fintech jobs would grow by a factor of 2.7 to more than 364,000; the volume of funding would more than double to almost EUR 150 billion from EUR 63 billion; and valuations would surge by a factor of 2.3 to almost EUR 1 trillion, it says.
But catching up with the leaders will require lower and middle-performing countries to have “a clearly defined programmatic agenda and ongoing commitment,” McKinsey says.
For this, six strategic areas should be focused on. In particular, governments and policymakers should concentrate on simplifying and harmonizing Europe’s fragmented national country regulation, it says. They should also establish a regulatory framework that fosters innovation and provides companies with the necessary conditions to compete domestically and internationally.
Efforts should be made to encourage more diverse and homegrown capital, attract global talent, and support their homegrown fintech companies in expanding overseas.
In Europe, fintech companies have been a force for growth, modernization and customer satisfaction, offering more competitive pricing, easier access, and speedier services.
In each of the seven largest European economies by GDP, namely France, Germany, Italy, the Netherlands, Spain, Switzerland, and the UK, McKinsey claims there is now at least one fintech company among the top five banking services institutions, as measured by market value.
Fintech is also an important source of growth for the overall economy, having created an estimated 134,000 jobs in Europe.
As of June 2022, fintech companies in the region represented a valuation of almost EUR 430 billion, a figure that surpasses the combined market capitalization of the region’s seven largest listed banks.
Europe is also home to some of the world’s most valuable fintech startups. Of the top ten most valuable private fintech companies in the world, three are headquartered in the region, data from CB Insights show: Checkout.com, a UK payment company that’s worth US$40 billion; Revolut, a digital bank based in the UK that’s valued US$33 billion; and Blockchain.com, a software platform for digital assets and cryptocurrency wallet provider based in the UK that’s worth US$14 billion.

Featured image credit: Edited from Freepik here and here
]]></description><link>https://fintechnews.eu/uk-sweden-emerge-as-best-fintech-ecosystems-in-europe</link><guid>2920</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>UK, Sweden Emerge as Best Fintech Ecosystems in Europe</dc:text></item><item><title>Digital Accounting Startup Numarics to Raise Seed Funding in Q4 2022</title><description><![CDATA[Swiss digital accounting startup Numarics is raising a seed round in the fourth quarter of 2022 following its previous CHF 2.1 million pre-seed financing round led by Wingman Ventures in April 2022.
Numarics processes accounting and business administration automation through their business operating system operated by the company’s Swiss certified auditors and business consultants.
The platform offers end-to-end solutions including bookkeeping, smart document archiving, invoices generation and a mail concierge with a dashboard displaying monthly reports.


Numarics also offers free incorporation services which include company registration, notary appointment for certification, and preparation of the necessary incorporation documents by a trustee.
The company entered a partnership with UBS in October 2022 that sees UBS referring Numarics’ digital scanning and archiving tool DocuBox to UBS clients and prospects.
Dominique Rey
“Bookkeeping today is still a paper-based activity which we seemingly integrate into the lifestyle of today’s entrepreneurs, in a paperless future.

To build trust behind the technology advantages, however, local presence, customer proximity and our good relations with the authorities are the keystones,”
said Dominique Rey, Co-Founder and CEO at Numarics.
]]></description><link>https://fintechnews.eu/digital-accounting-startup-numarics-to-raise-seed-funding-in-q4-2022</link><guid>2918</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Digital Accounting Startup Numarics to Raise Seed Funding in Q4 2022</dc:text></item><item><title>Bilt Rewards Hits US$1.5B Valuation With US$150M Round Led by Left Lane Capital</title><description><![CDATA[Bilt Rewards, a rewards programme for renters, has raised US$150 million at a US$1.5 billion valuation. The round was led by Left Lane Capital, with Smash Capital, Wells Fargo, Greystar, Greystar, Camber Creek, Fifth Wall, and Prosus Ventures participating.
Launched in 2021, Bilt Rewards operates a loyalty programme and a co-brand credit card, the Bilt Mastercard issued by Wells Fargo, that enables consumers to earn points on their rent payments with no transaction fees.
The company says that it has processed over US$3 billion in annualised rent payments and over US$1.6 billion in annualised card spend since launching.


Bilt also announced the introduction of Bilt Homes, a new home buying service that takes a member’s monthly rent payment and shows them homes they can own for an equal monthly mortgage payment.
Ankur Jain
“This new round of funding will help us to build additional tools, strengthen relationships with existing loyalty and real estate partners, and work to expand the Bilt Rewards platform across the country,”
said Ankur Jain, Founder and CEO, Bilt Rewards.
Harley Miller
“Housing represents the largest monthly expense for over 100 million renters in the U.S., and yet consumers have never received any incremental value in return.

Bilt is quickly weaving itself into the fabric of the everyday consumer, and has the potential to become a household brand that covers the entire homeownership journey,”
said Harley Miller, CEO and Managing Partner, Left Lane Capital.

]]></description><link>https://fintechnews.eu/bilt-rewards-hits-us15b-valuation-with-us150m-round-led-by-left-lane-capital</link><guid>2919</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Bilt Rewards Hits US$1.5B Valuation With US$150M Round Led by Left Lane Capital</dc:text></item><item><title>Global Fintech Funding Continues to Decline; Drops 38% QoQ</title><description><![CDATA[Fintech funding continued to slide in Q3 2022, dropping 38% quarter-over-quarter (QoQ) to US$12.9 billion. The sum makes Q3 2022 the sector’s weakest quarter since Q4 2020 and brings the total raised by fintech companies so far this year to US$63.5 billion, down 64% year-over-year (YoY), data from CB Insights’ latest State of Fintech report show.
The downward trend observed over the past year comes amid global uncertainty and growing inflation concerns which have prompted venture capital (VC) firms to invest more cautiously and favor sustainable businesses.
Global fintech funding by quarter, Source: State of Fintech Q3 2022, CB Insights
According to the report, Q3 2022 was marked by fewer mega-rounds, smaller deal sizes, plummeting new unicorn births and declining mergers and acquisitions (M&amp;A) activity.


Only 19 mega-rounds worth US$100 million and over were recorded in Q3 2022, the fewest since Q2 2018. These rounds accounted for just 34% of total funding (US$4.4 billion), down 32 percentage points from the 2021 average of 66%.
Quarterly fintech mega-round funding and deals, Source: State of Fintech Q3 2022, CB Insights
Average deal size dropped as well, declining 38% from 2021 to US$20 million. And fintech unicorn births fell below double digits for the first time since 2020, with just six new unicorns in Q3 2022: 21.co, a cryptocurrency startup from the US; OneCard, a mobile-first credit card offering in India; Stori, another credit card provider but from Mexico; Dana, an Indonesian digital wallet, Paystand, a business-to-business (B2B) payments platform from the US, and Zebec, a crypto startup from the US.
M&amp;A, meanwhile, continued to be the preferred exit type, recording 155 deals in Q3 2022. The number, however, represents a 14% QoQ decline and an eight-quarter low. Only four mergers to special purpose acquisition companies (SPACs) were recorded for the quarter, surpassing the number of initial public offerings (IPOs) of two.
Fintech exit trends, Source: State of Fintech Q3 2022, CB Insights
Regional and sectoral trends
Looking at regional trends, data show that the downturn took a toll on the US market, with fintech funding plunging 43% QoQ to US$5.1 billion, reaching its lowest point since Q1 2020.
Though the US still led the world in regional deal share (39%) and total funding sum (US$5.1 billion), it fell behind Asia and Europe in mega-round funding, recording only four deals totaling US$900 million, compared to US$1.8 billion and nine deals for Asia and US$1.7 billion and six deals for Europe. This the first time Asia takes the first position in mega-round funding.
Asia and Europe also surpassed the US in late-stage deal share, with Europe drawing 32% of deals in Q3 2022 and Asia 33%, while the US brought in 24%.
Mega-round funding in Q3 2022 by region, Source: State of Fintech Q3 2022, CB Insights
Across geographies, Australia was the only region to see a QoQ increase in fintech funding and deal count, growing at a notable 40% rate in funding total (US$144 million) and at a 42% increase in deal count (17 rounds).
Looking at fintech segments, all categories recorded a drop in funding, with payments sliding 27%, banking, 37%, and lending, 16%. Wealthtech took the biggest hit, with global funding plummeting 69% to US$1.1 billion, followed by capital markets, which saw funding drop 50% to US$400 million.
Insurtech recorded the smallest QoQ decline across all fintech segments, ticking down 4% from US$2.4 billion to US$2.3 billion. Though insurtech funding activity this year is significantly down compared to 2021, unlike other sectors, insurtech has remained relatively flat throughout 2022.
Quarterly insurtech funding, Source: State of Fintech Q3 2022, CB Insights
In Q3 2022, payments dominated the global fintech funding landscape, collecting a total of US$3.9 billion through 178 deals. Asia secured nearly half of that sum, raising a total of US$1.6 billion across 49 deals. Notable rounds included Dana’s US$555 million Series A, Toss US$371 million Series G, and OneCard’s US$100 million Series D.
Insurtech was the second largest fintech segment in Q3 2022, with the US leading the world in total funding and deal count. The largest equity deals in Q3 2022 included Wefox’s US$400 million Series D, Pie Insurance’s US$315 million Series D, and Coalition’s US$250 million Series F.
After insurtech, digital lending took the third spot, securing a total of US$2.1 billion through 131 deals. Europe took the lion’s share, collecting a total US$900 million through 23 deals. Klarna’s US$800 million private equity round made up for most of the sum.
Global fintech funding by segment, Source: State of Fintech Q3 2022, CB Insights
Startup funding has pulled back significantly this year amid public markets slump and economic concerns. VC investment for Q3 2022 totaled US$74.5 billion, hitting a nine-quarter low. This represents a 34% QoQ drop and is the largest quarterly decline in the last decade, data from CB Insights show.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/global-fintech-funding-continues-to-decline-drops-38-qoq</link><guid>2917</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/Global-fintech-funding-by-quarter-Source-State-of-Fintech-Q3-2022-CB-Insights.png?x30842</dc:content ><dc:text>Global Fintech Funding Continues to Decline; Drops 38% QoQ</dc:text></item><item><title>Wise Closes £300M Syndicated Debt Facility Led by Silicon Valley Bank UK</title><description><![CDATA[London-based global remittance firm Wise has closed a £300 million capital facility in a financing round led by Silicon Valley Bank UK, with six other banks participating.
The syndicated facility, which was arranged by the bank’s corporate finance team, has a hold level of £100 million.
Wise was founded in 2011 as a money transfer service for individuals and businesses. The company has since added multi-currency accounts, debit cards and business accounts to its range of offerings.


Wise also became the first technology company to be directly listed on the London Stock Exchange in mid-2021 at a valuation of £8.7 billion.
Matt Briers
“The new facility led by Silicon Valley Bank UK will offer us flexible and efficient access to working capital.

This means we can continue bringing our service to as many as possible and we can keep investing in making our payments faster, cheaper and more efficient for our millions of customers around the world,”
said Matt Briers, Chief Financial Officer at Wise.
Thomas Easterby
“We are delighted to build on our relationship with Wise by leading and arranging this significant facility to enable the company’s next phase of growth.

This financing continues our long-term relationship with Wise following the pre-IPO syndicated facility last year,”
said Thomas Easterby, Managing Director of Corporate Finance at Silicon Valley Bank UK.
]]></description><link>https://fintechnews.eu/wise-closes-300m-syndicated-debt-facility-led-by-silicon-valley-bank-uk</link><guid>2916</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Wise Closes £300M Syndicated Debt Facility Led by Silicon Valley Bank UK</dc:text></item><item><title>Digitalization and Technology to Help Fill the US$1.7 Trillion Global Trade Finance Gap</title><description><![CDATA[Micro, small and medium-sized enterprises (MSMEs) have historically faced severe financing difficulties, especially when trying to expand internationally. However, technological advances and innovative fintech solutions have emerged over the past years to help reduce this financing gap and provide MSMEs with greater access to trade finance.
Trade finance refers to financial solutions used to facilitate domestic and international trade and payments between exporters and importers. Trade finance does so by introducing a third party to the transaction, like a bank or a financial institution, to remove the payment risk and the supply risk.
During a trade, an exporter would ideally prefer the importer to pay upfront for an export shipment to avoid the risk that the importer takes the shipment but refuses to pay for the goods. However, if the importer pays the exporter upfront, the exporter may accept the payment but refuse to ship the goods.


Trade finance aims to address this issue by providing solutions like letters of credit (LOC), guarantees, insurance, and supply chain finance. A LOC, a well-known and widely used trade finance instrument, is essentially a promise made by the importer’s bank to the exporter’s bank that payment will be made once the exporter presents documents that prove the shipment occurred, like a bill of lading.
Supply chain finance, on the other hand, refers to a form of financial transaction where a third party facilitates a trade by financing the supplier on the customer’s behalf. Practically speaking, this means that the supplier accesses immediate payment for their goods, while the buyer receives an extension of the payment period and get more time to pay off their balances to their bank.
These instruments are used by many large corporations to address trade-related challenges, including counterparty- and liquidity-related issues, mitigate the risks associated with the trade counterpart’s default or unwillingness to pay, as well as to manage liquidity and working capital.
MSMEs, in contrast, are struggling to access trade finance despite their strong presence and important economic contribution in many countries. According to a 2021 Asian Development Bank (ADB) survey, MSMEs accounted for only 37% of global trade finance demand in terms of number of contracts and recorded a rejection rate of 45% (compared to just 17% for multinationals).

MSMEs’ difficulties to access trade finance can be explained by a combination of factors including their opacity. A 2019 survey on trade finance by the Bank of New York (BNY) Mellon revealed that the lack of creditworthiness and lack of ability to provide financial statements were among the most important reasons to reject requests from business seeking trade finance. In addition, most MSMEs are often unable to provide collateral, which raises rejection rates.
At the same time, rapid digitalization in the finance and banking sector has introduced new modalities and opportunities to finance MSMEs, offering the potential to alter existing trade finance patterns and help fill the trade finance gap which the World Economic Forum estimates to be currently standing at US$1.7 trillion.
Digitalization and technology to fill the trade finance gap
Distributed ledger technology (DLT) and blockchain, for example, are technologies that are being explored to digitize traditional documentary credit, enable greater transparency and increase efficiencies. Applied to trade finance, DLT has been said to enable trust in digital documents by certifying their provenience and correctness, trust in digital trade and trade finance transactions, and digital identification of trade stakeholders, among other key benefits.
Several DLT solutions and platforms focusing on trade finance are currently in the market. The Komgo platform, for example, brings together commodity trading partners, including banks, trading companies and oil and gas corporates. It uses the Ethereum blockchain to enable encrypted exchange of documents on a need-to-know basis.
Similarly, Wave BL offers a document exchange network to facilitate international trade. The platform connects banks, carriers, traders and other trade-related entities, and allows importers and exporters to exchange bills of lading easily, securely and transparently.
Beyond operational benefits, digitalization is also proving to help reduce asymmetric information issues. German company Compeon, for example, is a financing portal for SMEs that connects data and financing request from SMEs with large companies, banks, equity investors, guarantors, innovation support agencies, and public and private databases. Compeon works with more than 220 banks, leasing companies and special providers.
In Hong Kong, the DLT-based eTradeConnect platform was launched in 2018 to improve trade efficiency, build better trust among trade participants, reduce risks and facilitate trade counterparties to obtain financing. The platform allows buyers and sellers to create, exchange and confirm purchase orders and invoices in real-time, share information and submit applications for financing on one single interface. Participants of eTradeConnect benefit from enhanced transparency and potential access to multiple banks for trade loans.
Finally, new fintech companies and tech firms are entering the field with innovative solutions to trade and supply chain finance. For example, Amazon Lending is providing eligible sellers with financing solutions to purchase additional inventory. In the UK, Ebay is cooperating with Santander-backed fintech startup Asto to disburse loans to SMEs. And in Kenya, business-to-business (B2B) supply platform Twiga Foods is working with IBM to provide microfinancing for food kiosk owners. The lending platform, which is powered by blockchain technology, calculates the creditworthiness of a borrower using machine learning (ML) and by processing mobile data as well as looking at historic transaction payment behavior.

Featured image credit: Edited from freepik here and here
]]></description><link>https://fintechnews.eu/digitalization-and-technology-to-help-fill-the-us17-trillion-global-trade-finance-gap</link><guid>2915</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Digitalization and Technology to Help Fill the US$1.7 Trillion Global Trade Finance Gap</dc:text></item><item><title>Switzerland Sets the Stage for Instant Payments</title><description><![CDATA[Stability. Secrecy. Safety. The Swiss financial system has been the very definition of these attributes for almost 200 years. But like the world’s financial systems, institutions and networks, one very active new factor is knocking at the border: change. And the Swiss are up to it. Let’s take a look at the main factors that are bringing change to business payments in Switzerland detailed in a recent report commissioned by Bottomline from analyst firm Aite-Novarica.
The report covers payment infrastructure changes across a large geography of Europe and, also the UK. Specific to Switzerland, it validates the following major areas that I believe will be the most important to the country as it straddles the line between its independent status and its ability to take inspiration from other global initiatives.
1. The importance of interoperability to ensure the Swiss marketplace can have ubiquity with the global economy, especially their close neighbours in Europe. 
2. The drive to modernise domestic payments (Instant Payments, RTGS) by ensuring a state-of-the-art and innovative marketplace.
3. Although Switzerland is in front of the curve when it comes to ISO 20022 (since 2015), further steps are needed to move towards ISO Native to comply with SWIFT’s CBPR+ standard for cross-border payments to ensure the aforementioned interoperability
4. Keeping abreast of the security within transactions such as fraud protection, sanctions screening, IBAN pre-validation etc.
SCT INST PARTICIPATION RATES, 2022
Instant Payments are ‘table-stakes’
Instant payments, in my opinion, are the most positive development for the Swiss financial sector in years due to their proven role as a catalyst for change within that system. Instant payments are mainly used for domestic purposes, rather than cross-border and hold the promise of providing Switzerland with a competitive and innovative marketplace where citizens and SMEs can leverage the speed for improved liquidity and enriched data for transparency. Led by the Swiss National Bank (SNB) and SIX, Switzerland will introduce instant payments starting in 2024. It is proof positive that the country is committed to digital payments transformation, even as its citizens show the classic tendency to use cash. “Instant payments,” says the Aite-Novarica report, “are becoming the norm.” 
Deadlines and more deadlines
SIC has mandated two key deadlines: being reachable via SIC Instant Payment will be mandatory by August 2024 for banks processing more than 500,000 SIC messages annually and will be mandatory for the rest of the marketplace by August 2026. Now, all this will not happen automatically. As stated before, infrastructure upgrades are needed. However, the emphasis should be on reducing the complexity by outsourcing these changes to very specialised third-party providers. This strategy will also help with speed-to-market and ensure ongoing compliance with new industry mandates and regulations. 
This is even more important right now in the face of the legislative proposal by the European Union to make instant payments in euros available to all citizens and businesses holding a bank account in the EU and EEA countries. This according to Reuters is in response to only 11% of euro credit transfers being in the form of instant payments at the end of 2021.  PSPs would have six months to be ready to receive instant payments in euros in the euro area and 12 months for sending instant payments in euros. 
How does this impact Switzerland?  It’s complicated. Switzerland is not part of the EU and seems to be playing both sides of the SEPA issue – as it should. 
I quote Dieter Goerdten, head of products and services at SIX, which is the banking consortium that operates the SIC platform.
“Switzerland is a small economy compared to its European neighbours,”
he told the European Payments Council.
“It is dependent on trade and easy access to the European markets. Seamless payment flows are an essential part of this easy access. It is therefore always of keen interest to all parts of the Swiss economy to ensure a close alignment with European payment standards. Consequently, Switzerland is a member of SEPA and continues to implement digital payments based on SEPA rules wherever possible.”
Instant payments are also about competitive advantage, and now that the EU Commission has on the 26th of October issued their mandatory regulation for Instant Payments in Euros – which will still need to legally enter into force before being compulsory, you don’t want to be in a situation in the rest of the world where you’re playing catch-up. That alone should move instant payments up the priority ladder. Secondly, instant payments represent a revenue opportunity that will only grow as banks find new ways to leverage it. Thirdly, instant payments are a springboard for digital payments transformation and are quite simply ‘table-stakes’ – If you don’t offer it to end customers and corporates then they are more than likely going to rethink their relationships with your financial institution and switch. 
Managing interoperability
Feedback from the banks gathered at Sibos was that because they have very busy roadmaps there is a real need for banks &amp; financial institutions to be supported by centralised platforms to help with speed, simplification, cost and hitting deadlines. After all, interoperability doesn’t work if some banks are moving at different speeds.
Banks that attended Sibos, and I hope every financial institution in Switzerland, are aware that although the situation is currently in flux, it won’t be for long. They recognised that you cannot just wait and that some legacy systems are not fit for the revolution that is coming. ISO 20022 is the sharp tip of the spear in achieving this interoperability. It’s one standard that works across countries and networks despite there being some variations case by case. We have now also seen ambitious deadlines for ISO 20022 and instant payment capabilities being pushed back (Target 2, SWIFT CBPR+, Canada’s Lynx to March 2023 and the Bank of England is likely to follow suit in the UK too), in response to banks being worried about juggling deadlines within an already busy roadmap. But to be clear the message from SWIFT at Sibos was that even if changing key dates brings a bit of confusion, the emphasis should be on getting the implementation right straight off the bat, rather than rushing the process which could result in potential problems further down the line.  
However, the view at Sibos, and also held by Bottomline, is that the sooner you can fully leverage the advantages of ISO 20022 the better. This should take the form of implementing ISO in several steps. Firstly, ensuring compliance and using translation services where necessary. Secondly, ensure that you are fully leveraging and managing the rich data that will be available through ISO by being able to manage truncations. And lastly, make the full transition to ISO Native where ISO 20022 is integrated across your whole payments ecosystem and you can reap the rewards of optimum operational efficiency.  After all, ISO 20022 is designed to ensure that elusive full end-to-end automation by being the only 100% machine-readable format, allowing banks &amp; FIs to reduce costs and any risks related to manual interventions. 
We aren’t fully aware of all the use cases for ISO 20022 and we won’t find them all out until we have integrated ISO fully, started brainstorming and had a play around. The sooner you start exploring these new use cases the sooner you can gain a competitive advantage over other banks. However, the wider benefits that we do know include – high-levels of transparency, better customer service, and of course, improved operational efficiency.
After all, ISO 20022 provides the standardisation needed for interoperability between traditional domestic &amp; cross-border rails. It is also vital for the adoption of new innovative payment rails for cross-border and instant payments because all of these have transitioned to ISO 20022 too. In addition, the abundant availability of rich data and related (artificial) intelligence will allow banks &amp; FIs to route payments intelligently and to choose the right channel for each transaction, whether it is to drive new coverage in markets or currencies or to optimise the execution in existing markets. In my opinion, the impact that the richer data will have on fraud monitoring &amp; compliance, cash-flow management and of course data and analytics, justifies enough for the fastest transition to being ISO Native and having ISO front and centre of any bank’s roadmap. 
I’ll end with a telling quote from the Aite-Novarica report:
“Despite the strong regulatory mandate of the ECB (European Central Bank) and the EU’s appetite for SEPA harmonisation, maintaining a competitive position remains a central plank of policy making. As such, multiple systems will likely continue to exist simultaneously highlighting the need for of course connectivity, but interoperability too.”
To read the Europe &amp; UK wide Bottomline sponsored Aite Noverica report European Payments Infrastructure Under Renovation – Impact in Financial Institutions in full click here. Additionally, you can also find the report that is specific to Switzerland and Liechtenstein.

Featured image credit: Edited from Unsplash here and here
]]></description><link>https://fintechnews.eu/switzerland-sets-the-stage-for-instant-payments</link><guid>2914</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/SCT-INST-PARTICIPATION-RATES-2022-1024x577.png?x30842</dc:content ><dc:text>Switzerland Sets the Stage for Instant Payments</dc:text></item><item><title>Embedded Finance to Account for More than 10% of All US Transactions by 2026</title><description><![CDATA[In 2021, US consumers and businesses poured US$2.6 trillion in transactions through embedded financial services, a sum that represents nearly 5% of all US financial transactions, according to a new report by Bain Capital and Bain &amp; Company.
By 2026, that amount is projected to exceed US$7 trillion, or over 10% of total US transaction value, reflecting the appeal of integrated financial services among customers.
Embedded finance, a concept that refers to the integration of financial services into non-financial services, is a booming sector that’s been fueled by changing consumer behaviors, advances in technology, and an evolving regulatory landscape.


In 2021, Bain Capital and Bain &amp; Company estimate that the US market for embedded finance platforms and enablers reached US$22 billion in total revenue across payments, lending, banking, and cards.
US platform and enabler revenues in 2021, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022
Embedded consumer payments, or solutions that able merchants to accept payments from their customers, accounted for more than 60% (US$12 billion) of all revenues from embedded finance transactions and totaled US$1.7 trillion worth of transactions.
By 2026, revenues from embedded consumer payments are projected to rise by 75% to US$21 billion. Transaction value, meanwhile, is forecasted to more than double and reach US$3.5 trillion.
This surge will be driven by adoption of embedded consumer payments by new verticals, the report says, given that, currently, these solutions are still mainly used by businesses in the e-commerce and retail sectors.
Platform and enabler revenues from US consumer payments, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022
After embedded consumer payments, embedded business-to-business (B2B) payments was the second largest segment by transaction value and revenues, totaling US$700 billion in value and generating US$1.9 billion in revenues.
Transaction value and revenues are projected to grow more than threefold by 2026 with total value expected to reach US$2.6 trillion and revenues, US$6.7 billion.
Platform and enabler revenues from US business-to-business payments, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022
Though embedded payments are set to maintain the lion’s share of the embedded finance market, lending is one segment that’s projected to witness rapid growth, fueled by rising adoption of embedded business lending, buy now, pay later (BNPL), and point-of-sale (PoS) lending.
In particular, embedded business-to-business (B2B) lending will see the fastest growth within the next four years owing to the sector’s current low penetration.
In 2021, around US$12 billion in B2B loans transacted via embedded finance, generating US$200 million in revenues for platforms and enablers, according to the report. By 2026, embedded B2B lending should increase fivefold, totaling between US$50 billion and US$75 billion in loan volume and generating a whooping US$1.3 billion in revenues for platforms and enablers.
Embedded lending comprises solutions that allow buyers to access payment facilities or short term financing at the point of purchase without the need to visit a bank or engage with a traditional lender. Examples include Mindbody Capital, which offers cash advances to its business customers through the core solution powered by Parafin, and Toast, a restaurant management and PoS solution which offers loans from US$5,000 to US$300,000 to restaurants part of its network.
Platform and enabler revenues from US business lending, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022
BNPL arrangements, which allow customers to pay for goods and services in instalments at the point of purchase, have proliferated across e-commerce platforms over the past few years and will continue to see increased adoption among customers.
In 2021, it’s estimated that some US$1.4 trillion poured through online retailers and marketplaces in the US. Of that sum, around US$50 billion went through BNPL platforms, giving BNPL a penetration of 3% to 4%. These transactions resulted in an estimated US$900 million in revenues for embedded finance enablers.
By 2026, these totals will grow substantially to reach US$2.4 trillion in transaction value and US$4 billion in revenues. With a forecasted 10%-12% penetration, the report estimates that the BNPL market size could soar to US$265 billion.
Enabler revenues from US buy now, pay later transactions, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022
Finally, PoS lending, a credit option for consumers often used for more expensive goods such as furniture and large appliances, collected a total of US$43 billion in transaction value and generated US$4.2 billion in revenues last year. By 2026, transaction value is expected to grow to between US$80 billion and US$90 billion. Revenues are projected to jump to US$7.5 billion.
Enabler revenues from US point-of-sale lending, Source: Embedded Finance: What It Takes to Prosper in the New Value Chain, Bain Capital/Bain and Company, 2022

This article first appeared on fintechnews.am

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/embedded-finance-to-account-for-more-than-10-of-all-us-transactions-by-2026</link><guid>2913</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/bottomline-banner.png?x30842&amp;amp;x30842</dc:content ><dc:text>Embedded Finance to Account for More than 10% of All US Transactions by 2026</dc:text></item><item><title>radicant Launches Investment Products That Support Sustainable Development</title><description><![CDATA[Digital bank radicant has launched SDG Impact Solutions, a series of 11 financial products comprising three funds and eight actively managed certificates.
These products enable clients to invest in broadly diversified funds representing the UN’s 17 Sustainable Development Goals (SDGs) as well as in sustainable investment themes identified by radicant.
Securities for the 11 products are selected from companies whose purpose, products, services and operating processes have a positive impact on the SDGs based on radicant’s assessment.


The company says that these assessments will be made available to prospective investors in the radicant app which will be launched in 2023.
radicant is a collaboration between Swiss cantonal bank Basellandschaftliche Kantonalbank (BLKB) and Dr. Anders Bally, founder of venture firm Bally Capital Partners.
Anders Bally
“radicant identifies and fosters solutions that contribute to achieving the UN’s 17 SDGs through innovative financial services, investment products and transparency.

This allows investors to invest in the sustainable topics that are closest to their heart and that they want to support, in order to contribute to the achievement of the 17 UN goals themselves, while continuing to building their own wealth,”
said Anders Bally, CEO and Co-Founder of radicant.

Jan Poser
“The radicant SDG Impact Solutions not only offer a contribution to sustainable development, but also attractive return opportunities,”
said Jan Poser, Chief Sustainable Investment Officer and Co-Founder of radicant.
]]></description><link>https://fintechnews.eu/radicant-launches-investment-products-that-support-sustainable-development</link><guid>2912</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>radicant Launches Investment Products That Support Sustainable Development</dc:text></item><item><title>Swissquote Clients Can Now Invest in Dubai Financial Market’s Securities</title><description><![CDATA[Online trading platform Swissquote is now connected to the Dubai Financial Market (DFM), allowing clients to invest in and trade DFM-listed securities.
The platform is connected to the DFM through GTN Middle East and BHM Capital Financial Services’ direct market access route, and is expected to boost DFM-listed securities’ accessibility to investors outside the UAE.
Swissquote is a provider of online financial services granting its clients access to trade a range of asset classes including stocks, ETFs, funds, bonds, derivatives and more.


The company launched a cryptocurrency exchange called SQX earlier this month and previously partnered with Postfinance to launch digital banking app Yuh in mid-2021.
Jacques Barakat
“Given our local and international client base, providing direct access to the growing investment opportunities that the Dubai Financial Market offers is of strategic importance for our group and demonstrates our ambition to expand further our presence in the UAE,”
said Jacques Barakat, CEO of Swissquote Middle East.
Hamed Ali
“We are actively implementing a wide-ranging plan to take market accessibility to new pinnacles by increasing the number of technology-driven members capable to provide investors with multiple value-added services and to attract new investors to join our growing investor base,”
said Hamed Ali, CEO of DFM and Nasdaq Dubai.
]]></description><link>https://fintechnews.eu/swissquote-clients-can-now-invest-in-dubai-financial-markets-securities</link><guid>2910</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Swissquote Clients Can Now Invest in Dubai Financial Market’s Securities</dc:text></item><item><title>Krisenresistenz und Inflationsschutz mit Sachwerten</title><description><![CDATA[Die Börse ist keine Einwegstrasse – 2022 hat wieder einmal gezeigt, dass es in unregelmässigen Abständen zu massiven Korrekturen kommt. Aber war es das schon oder kommt da noch mehr? Und wie schützt man sich davor? Sachwerte sind wichtige Bestandteile der Lösung.
Die in der Geschichte noch nie so hohe Staatsverschuldung sowie die expansive Geldmengenausweitung der letzten Jahre haben die Stabilität des Finanzsystems stark geschwächt. Die Politiker scheinen immer weniger handlungsfähig zu sein und sehen im Schuldenmachen zu Lasten der nächsten Generationen noch das einzige Hilfsmittel. Das kann auf die Dauer nicht gut gehen, was Anlegerinnen und Anleger im laufenden Jahr erneut zu spüren bekamen.
Die meisten Anlageklassen mussten deutliche Werteinbussen hinnehmen. Auch die üblicherweise als sicher eingeschätzten Obligationen erlebten eines der schlimmsten Jahre überhaupt. Und wer sein Geld in der Schweiz auf dem Konto liess, war nur vermeintlich geschützt, denn die Inflationsrate von aktuell über 3% verringert die Kaufkraft ebenfalls. Rechnen Sie selbst, was das über die Jahre bedeuten kann.
Die Stimmen von zahlreichen Experten werden daher lauter, dass es wohl nur noch eine Frage der Zeit ist, bis eine weitere Finanzkrise ausgelöst wird. Der Mix der vielen Gefahrenherde ist äusserst gefährlich. Notmassnahmen, wie die Rettungsaktion des englischen Vorsorgesystems oder milliardenschwere Staatsgarantien, um die Energieversorgung sicherzustellen, helfen auch nicht, das Vertrauen zu stärken.
Nur, wie sollen die Zentralbanken reagieren? Im Gegensatz zur Finanzkrise 2008 scheint der Spielraum für Rettungsmassnahmen beschränkt. Aufgrund der aktuellen Inflationsbekämpfung wird eine starke Zinsreduktion kaum möglich sein, denn diese würde eine noch schnellere Zunahme der Inflation bewirken. In Europa sind wir jetzt schon bei rund 10%. Das aufgeblasene Schuldengeld-System droht zu kollabieren. Höchste Zeit also, die Krisenresistenz Ihres Geldes zu erhöhen.
Sachwerte: Stabilität statt Spekulation

Gesucht ist also eine Geldanlage, die mehr Stabilität ins Portfolio bringt und bestmöglich vor Wertverlust zu schützen vermag. Der RealUnit ist eine Lösung für dieses Anliegen und hat als wichtigste Ziele den Erhalt der Kaufkraft des Vermögens und den Schutz in Krisensituationen.
Die Anlagestrategie setzt auf Sachwerte und beinhaltet mehrheitlich physisches Gold, Silber und Industriemetalle, ja sogar Bargeldbestände, alles aufbewahrt in sicheren Tresoren ausserhalb des Bankensystems. Dazu kommen Beteiligungen an mehrheitlich Schweizer Unternehmen mit solider Bilanz, nachhaltigen Erträgen und einem krisenresistenten Geschäftsmodell.
Inhaberaktie für das Depot oder Namenaktie als digitaler Token
Neben den Vorteilen der wertbeständigen Anlagestrategie mit starkem Fokus auf Sachwerte hat der RealUnit eine weitere Besonderheit, die jederzeit Zugriff auf die Vermögenswerte sicherstellt. Als erste börsenkotierte Schweizer Gesellschaft sind die Anteile nicht nur als Inhaberaktie für das klassische Depot bei einer Bank konzipiert, sondern auch als Namenaktie in Form eines digitalen Tokens auf der Blockchain erhältlich. Somit werden Sie selbst zur Bank und verwahren die RealUnit-Token gebührenfrei im eigenen Wallet.

Der RealUnit-Token ist jedoch keine Kryptowährung, er nutzt einzig dieselbe Blockchain-Technologie und unterscheidet sich dabei in zwei wichtigen Punkten:
1. Im Gegensatz zu Bitcoin und anderen Kryptowährungen ist der RealUnit mit Realwerten gedeckt. Die Wertentwicklung ist somit viel stabiler und von der echten Bewertung der hinterlegten Vermögenswerte abhängig.
2. Als weiteren Vorteil gibt es eine Notfalloption. Sollte der «private Schlüssel» bei inkorrektem Verhalten verloren gehen, könnten die Token sogar mit einem speziellen Recovery-Prozess wiederhergestellt werden.
Wer einen Aktientoken besitzt, profitiert somit von einer stabilen Anlagelösung und stärkt dank dem Direktzugriff auch die finanzielle Souveränität. Sachwerte steigern die Krisenresistenz und den Vermögenserhalt über Generationen. Gleichzeitig schützen Sie Privatvermögen und Firmenliquidität bestmöglich vor Inflation und den Folgen von heftigen Korrekturen an der Börse. Und mit dem digitalen RealUnit-Token erhöhen Sie sogar Ihre Unabhängigkeit vom Bankensystem.
Unter www.realunit.ch finden Sie zusätzliche Argumente.

Titel-Bild Nachweis: Bearbeitet von Unsplash

Disclaimer/Haftungs-Ausschluss: Hier handelt es sich weder um eine Anlageberatung noch um eine konkrete Handlungsempfehlung.
]]></description><link>https://fintechnews.eu/krisenresistenz-und-inflationsschutz-mit-sachwerten</link><guid>2911</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/RealUnit-Berg--1024x638.png?x30842</dc:content ><dc:text>Krisenresistenz und Inflationsschutz mit Sachwerten</dc:text></item><item><title>Central Bank Digital Currencies Introduce New Cybersecurity Challenges, Privacy Issues</title><description><![CDATA[Interest in central bank digital currencies (CBDCs) has grown over the past few years in response to changes in payments and technology, as well as the disruption caused by COVID-19.
A 2021 survey conducted by the Bank for International Settlements (BIS) found that 86% of central banks polled were actively researching the potential of CBDCs, 60% were experimenting with the technology and 14% were deploying pilot projects.
Atlantic Council GeoEconomics Center research shows that about 100 countries and currency unions are currently exploring the possibility of launching a CBDC, either retail and issued to the general public, or wholesale and intended to be used primarily for interbank transactions.


Central Bank Digital Currency Tracker, Source: Atlantic Council, 2022
CBDCs are essentially digital versions of a country’s physical currency. Instead of printing money, central banks issue widely accessible digital coins which users can utilize to make digital transactions and transfers.
Efforts towards CBDCs have accelerated these past few years, driven by a number of factors. First, COVID-19 has brought about a shift in payment habits towards digital payments and e-commerce, accelerating the decline of cash use and prompting central banks to consider issuing a new form of money that would best suit new consumer preferences.
Second, cryptocurrencies developed by private companies or communities like bitcoin have seen significant developments and value gain. In 2021, the market capitalization of cryptocurrencies grew by nearly three times to US$3 trillion. This rapid rise, combined with the vulnerabilities of crypto markets, has raised financial stability concerns among central banks and regulators, pushing authorities to pursue CBDC ambitions.
For central banks involved in CBDC projects, there are many opportunities relating to digital coins. Most are confident CBDCs could help them reach their public good objectives, including safeguarding trust in money, maintaining price stability and ensuring safe and resilient payment systems and infrastructure. Some also believe CBDCs could significantly help economies go digital, make cross-border payments faster and cheaper, and increase financial inclusion.
The risks of issuing a CBDC
But despite the positive prospects, experts and industry observers have also warned of possible risks relating to CBDCs, including security considerations, as well as surveillance and privacy.
A recent US Federal Reserve report listed “security” as an “important consideration for a CBDC,” citing risks relating to counterfeiting, fraud, and double spending, but also cyber risks. In fact, a UK House of Lords paper specifically described cybersecurity and privacy risks as potential reasons not to develop a CBDC.
Results of a 2021 survey conducted by BIS revealed similar concerns among the broader central banks’ community. The study, which polled 21 central banks from around the world, found that most respondents believe that the introduction of a CBDC could add to the complexity of the IT environment and necessitate greater resources devoted to cybersecurity.
More than 60% of central banks in emerging markets believe a CBDC could generate an increase of between 10% to 20% in cyber budgets. Advanced economies showed greater concerns, with more than 30% of respondents estimating an increase between 20% to 50% in cyber budgets because of a CBDC. An equal proportion estimated an increase in the 10%-20% bracket.
Estimated increase in cyber budgets due to CBDC (As a percentage of respondents), Source: Bank for International Settlements, 2022
Concerns over security aren’t groundless and implications could be disastrous. Vulnerabilities in CBDC systems could be exploited to compromise a country’s entire financial system, a new report authored by representatives from the Atlantic Council GeoEconomics Center points out.
In addition, CBDCs would be able to accumulate sensitive payment and user data at an unprecedented scale. In the wrong hands, these data could be used to spy on citizens’ private transactions, obtain security-sensitive details about individuals and organizations, and even steal money, the experts say.
A recent whitepaper by the Bitcoin Policy Institute makes a case of why the US shouldn’t issue a CBDC, citing risks and issues relating to surveillance, censorship and excessive government control.
“While the United States remains a liberal democracy for now, all indicators show that we are on path to the kind of authoritarianism characteristic of strong states like China,” the paper reads.
“CBDCs provide governments with direct access to every transaction in that currency conducted by any individual anywhere in the world. As governments worldwide routinely share data with one another, individual transaction data will quickly become known to any government in a data sharing arrangement … CBDCs also enable governments to prohibit, require, disincentivize, incentivize, or reverse transactions, making them tools of financial censorship and control.”
Recognizing the need to better understand the risks and challenges arising from CBDCs, the BIS opened the Eurosystem Centre earlier this year. With locations in Frankfurt and Paris, the center will see the BIS working together with all 19 euro area central banks and the European Central Bank to explore cyber security issues surrounding CBDCs and conduct experiments.

Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/central-bank-digital-currencies-introduce-new-cybersecurity-challenges-privacy-issues</link><guid>2908</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Central Bank Digital Currencies Introduce New Cybersecurity Challenges, Privacy Issues</dc:text></item><item><title>European Fintech Growth Cools Down</title><description><![CDATA[After a decade of growth, the European fintech ecosystem is entering a period of cooling and consolidation reflected by a dropping number of new fintech companies being founded, decreasing funding activity and a decline in exit deals, a new report by Dutch venture capital (VC) firm Finch Capital shows.
New business formation in the fintech sector peaked in 2018 with more than 700 new fintech companies founded in H1. Since then, however, the number of new fintech companies started  declining and plunged in 2020, dropping 80% from more than 400 new fintech companies founded in H2 2020 to less than 100 in H1 2022.
Number of fintechs founded per year, Source: State of European Fintech 2022, Finch Capital
Over 100,000 startups have been founded in Europe over the last decade, according to the State of European Fintech 2022 report. The UK has been the most prolific country in the region, with 23,000 fintech companies, followed by France with 14,000, and Germany with 12,000.


Over a 100,000 startups founded in Europe over the last decade, Source: State of European Fintech 2022, Finch Capital
Consolidation ahead
2021 was a record-breaking year for fintech funding, with 603 deals in Europe and a total of EUR 25 billion secured by fintech companies in the region. In 2022, that sum stood at a little over EUR 10 billion, as of October, showcasing the contraction.
Fintech funding in Europe, Source: State of European Fintech 2022, Finch Capital
Forecasts for the years onwards are rather gloomy. Finch Capital predicts a 60% decline in fintech deals between 2021 and 2024, plunging from more than 1,100 rounds to less than 400. The decrease will be partly due to less mega-rounds and the end of the payments, lending and crypto funding boom.
The number of fintech deals in Europe, Source: State of European Fintech 2022, Finch Capital
Total deal volume is expected to halve in the next 12 to 18 months, driven by declining valuations and smaller round sizes. And in the lending, payment and crypto segments, the momentum appears to be wearing off with stagnating funding activity, the report notes.
Capital invested in European fintech companies, Source: State of European Fintech 2022, Finch Capital
The past year has also seen a decline in initial public offerings (IPOs) and large venture mergers and acquisitions (M&amp;A) deals. Public exits have dropped by 74%, the report says, and M&amp;A deals have also been on a downturn, except for deals below EUR 200 million.
These trends are hinting at a forthcoming period of consolidation in the fintech space, it says, especially considering that many verticals like payments, know-your-customer (KYC) solutions, and expense management software, still remain highly fragmented.
Global fintech exits by value, Source: State of European Fintech 2022, Finch Capital
Global fintech downturn
This downward trend for European fintech venture funding this year is in line with global funding trends. In 2021, fintech companies secured a total of US$129.4 billion globally, according to Dealroom data. This year, total funding reached just US$75.3 billion in late October 2022.
Global fintech funding, Source: Dealroom, Oct 2022
Unicorns are also becoming rarer this year, with just eight fintech companies reaching a billion dollar valuation in Q3 2022, against 53 the same period last year.
So far, over 60 fintech companies reached the status this year, according to CB Insights data. In Europe, these include Qonto, a business digital banking startup from France, Backbase, a banking technology financial technology company from the Netherlands, GoCardless, an online direct debit specialist from the UK, and PayFit, an integrated payroll and HR management platform from the UK.

Featured image credit: Edited from Unsplash and Freepik
]]></description><link>https://fintechnews.eu/european-fintech-growth-cools-down</link><guid>2909</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/Number-of-fintechs-founded-per-year-Source-State-of-European-Fintech-2022-Finch-Capital.png?x30842</dc:content ><dc:text>European Fintech Growth Cools Down</dc:text></item><item><title>neon’s Crowdfunding Campaign Reaches CHF 5 Million on Its First Day</title><description><![CDATA[Swiss neobank neon’s crowdfunding campaign reached CHF 5 million of its CHF 10 million target with more than 2,000 investors participating on the first day of the campaign.
The campaign, which runs from October 25 to 31, is offering two to 250 non-voting shares priced at CHF 200.00 per share. The company aims to sell a total of 50,000 shares.
According to the campaign page, neon’s recent milestones include hitting 130,000 users, generating CHF 3.5 million in revenue year to date, and launching new card and community features.


The company says that it expects to reach CHF 6 million in sales by the end of the year, and that it plans to move into stock and cryptocurrency trading next.
neon shared that it also raised CHF 2.5 million in funding from institutional investors in September.
The latest raise follows the company’s previous CHF 7 million Series A led by TX Group’s TX Ventures and CHF 5 million crowdfunding campaign in mid-2021.
Founded in 2017, neon provides an account, app and card for receiving, transferring, and saving money. The company also made this year’s TOP 100 Swiss Startup Awards rankings.
]]></description><link>https://fintechnews.eu/neons-crowdfunding-campaign-reaches-chf-5-million-on-its-first-day</link><guid>2904</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>neon’s Crowdfunding Campaign Reaches CHF 5 Million on Its First Day</dc:text></item><item><title>N26 Launches New Cryptocurrency Trading Feature With Bitpanda</title><description><![CDATA[German neobank N26 has launched its cryptocurrency product in Austria to enable customers to buy and sell 194 cryptocurrencies in their app.
The N26 Crypto feature will be made available progressively to eligible customers in Austria over the coming weeks, as well as in other key markets over the next six months.
The launch addresses strong local demand, where internal research showed that 40% of N26 users are either actively trading, or have expressed interest in investing in cryptocurrencies.


N26 Crypto is offered in partnership with Austrian cryptocurrency platform Bitpanda, which manages the execution of trades and custody of coins.
N26 Metal customers will be able to make transactions with a 1% transaction fee applied for trading Bitcoin and 2% for all other available cryptocurrencies.
All other N26 customers will be able to trade Bitcoin with a 1.5% transaction fee, and a 2.5% fee for other cryptocurrencies — the same rates offered on Bitpanda’s platform.
Valentin Stalf
“While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class for investors and a growing part of the financial system. With N26 Crypto, we are offering a simple way to trade and invest, with a great user experience and low and transparent fees,”
said Valentin Stalf, Co-Founder and Co-CEO at N26.
Gilles BianRosa
“With N26 Crypto we have created a simple, intuitive product that integrates seamlessly into N26’s fully-regulated banking experience where one’s bank balance, savings, and investment portfolio sit side by side — with cryptocurrencies being the first asset class we intend to offer,”
said Gilles BianRosa, Chief Product Officer at N26.
]]></description><link>https://fintechnews.eu/n26-launches-new-cryptocurrency-trading-feature-with-bitpanda</link><guid>2905</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>N26 Launches New Cryptocurrency Trading Feature With Bitpanda</dc:text></item><item><title>Moneyhub Kicks Off Fundraise With £40M From Legal &amp; General, Lloyds Bank</title><description><![CDATA[Open finance platform Moneyhub has secured an initial £35 million in its latest funding round led by asset manager Legal &amp; General and Lloyds Banking Group, with an additional £5 million debt facility provided by Shawbrook Bank.
The investment will help to accelerate the ongoing development of Moneyhub’s solutions, including those around pensions and wealth, payments, distribution, affordability, and data-as-a-service.
This is the company’s largest funding round to date following a fundraise in early 2021 from Sir Peter Wood’s SPWOne and NBS Ventures, and a round prior to that in 2018 from Nationwide Building Society.


Moneyhub’s high-profile enterprise clients currently include Aon, KPMG, Mercer, Samsung, and Vodafone — reaching 150 million end-users across the United Kingdom and worldwide.
Legal &amp; General and Lloyds Banking Group will each take minority stakes in the company, with Legal &amp; General’s investment partially subject to regulatory approval.
Wian Pieterse
“At Legal &amp; General we believe data is key to helping customers make informed decisions and ultimately get better financial outcomes.

Moneyhub is a leading provider in open data and so was an obvious choice for us to invest in to accelerate our commercial goals and support the growth of our workplace savings business,”
said Wian Pieterse, Fintech MD at Legal &amp; General.
Kirsty Rutter
“This is Lloyds Banking Group’s first fintech investment following the announcement of our new strategy earlier this year.

We are excited to work with Moneyhub to use open data and API technologies to help consumers improve their financial wellbeing, make our products more relevant to customers, and our channels simpler and more personalised to use,”
said Kirsty Rutter, Fintech Investment Director at Lloyds Banking Group.
]]></description><link>https://fintechnews.eu/moneyhub-kicks-off-fundraise-with-40m-from-legal-general-lloyds-bank</link><guid>2906</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Moneyhub Kicks Off Fundraise With £40M From Legal &amp; General, Lloyds Bank</dc:text></item><item><title>Temenos and Microsoft Launch a Carbon Emissions Calculator for Cloud Banking</title><description><![CDATA[Cloud banking platform Temenos has launched a carbon emissions calculator to give customers insight into carbon emissions data associated with their consumption of its services.
The calculator, which is is embedded into the Temenos Banking Cloud client portal, leverages data provided by Microsoft Cloud and its methodology was independently verified by Grant Thornton.
Temenos Banking Cloud is powered by Microsoft Azure and uses services like Azure Kubernetes Service, Azure Functions, Azure SQL and more.


The company claims that banks utlising its cloud services can enjoy over 90% in carbon emission savings compared to on premise IT infrastructures.
Max Chuard
“Our mission is to help our clients with their digital transformation while providing them with the open cloud platform to transition to a low-carbon global economy.

With this unique carbon emissions calculator, we are empowering our cloud customers to reduce the impact of their own operations and achieve their sustainability goals,”
said Max Chuard, Chief Executive Officer, Temenos.
Bill Borden
“We are pleased to be putting our combined strengths to work helping banks and financial institutions worldwide innovate faster using cloud capabilities to grow their business while meeting sustainability commitments,”
said Bill Borden, Corporate Vice President of Worldwide Financial Services, Microsoft.
]]></description><link>https://fintechnews.eu/temenos-and-microsoft-launch-a-carbon-emissions-calculator-for-cloud-banking</link><guid>2907</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Temenos and Microsoft Launch a Carbon Emissions Calculator for Cloud Banking</dc:text></item><item><title>The 16 Hottest Fintech and Insurtech Startups in Europe</title><description><![CDATA[Europe is home to some of the world’s biggest and most valuable fintech companies, and one of the largest and most developed fintech ecosystems globally.
Throughout the years, founders across the region have consistently managed to attract investors’ interest, successfully securing a staggering US$26.3 billon in 2021, a figure that represents more than double what was raised in 2020 at US$10.3 billion, according to data from CB Insights.
While many of Europe’s biggest fintech companies are household names, the continent also hosts some very promising younger ventures.


Technology-oriented publication Wired has released its selection of 2022’s 100 hottest startups in Europe across ten major cities.
Ten startups were selected in London, Paris, Berlin, Barcelona, Lisbon, Stockholm, Amsterdam, Tel Aviv, Helsinki and Dublin, and were recognized for their ingenuity, growth prospects and the excitement they’ve generated among local entrepreneurs and investors.
Unsurprisingly, London had the most fintech companies within its top ten startups list with four fintech companies. London is followed by Berlin and Barcelona with three fintech startups each.
In total, 16 fintech and insurtech companies made it into this year’s list. These companies operate in different areas ranging from small and medium-sized enterprise (SME) financing and teen banking, to payments and earned wage access.
Today, we look at the fintech and insurtech startups part of Wired’s 2022 Hottest Startups in Europe list, categorizing them by the city they are based in.
London (4)
Sylvera

Founded in 2020, Sylvera develops tools designed to track the performance of carbon offsets. The company leverages proprietary data and machine learning (ML) technology to produce the most comprehensive and accessible insights and market intelligence on carbon projects, which are delivered through an online platform.
Hokodo

Founded in 2018, Hokodo is a fintech startup offering a buy now, pay later (BNPL) solution for businesses. The platform allows B2B merchants to offer credit terms to their business customers instantly, even on their first purchase. In turn, customers benefit from additional payment terms through a frictionless checkout experience.
Qumata

Founded in 2017, Qumata, formerly known as HealthyHealth, aims to transform insurance underwriting, providing a faster way to access individual health forecasts without losing accuracy of traditional questionnaires or medical exams. The solution unlocks insights into an individual’s current and future health and mortality risks, and allows life and health insurers to create a faster, more customer-centric underwriting journey.
Gaia

Founded in 2019, Gaia is the world’s first IVF insurance provider. The company helps customers plan, pay for and protect their IVF journey, focusing on making IVF more accessible for more people. Using data from over 1 million previous treatments, Gaia predicts one’s chances of success across up to six IVF rounds, and then provides them with build personalized insurance plans.
Berlin (3)
Moss

Launched in mid-2020, Moss provides corporate credit cards for startups and digital companies in Germany. The cards works alongside a technology-driven platform for holistic spend management. Companies can choose to use Moss as an all-in-one integrated solution for their expense management or to build a customized modular solution based on their specific needs.
Mondu

Founded in 2021, Mondu is a B2B payments startup that aims to simplify the financial lives of SMEs. Mondu’s BNPL solution for B2B helps merchants and marketplaces improve conversion rates and protect themselves against default risk, while alleviating the operational burden of collection and dunning.
Pile

Founded in 2022, Pile is a “crypto-as-a-service” provider that allows businesses to easily integrate crypto and decentralized finance (DeFi) products to their existing infrastructure. The company offers a flexible, fast and compliant way for businesses to bring new products to market, open up new revenue streams, attract new customers and increase customer retention. At the moment, Pile offers three products: non-custodial wallets, access to DeFi, and fiat to crypto exchange.
Barcelona (3)
Hubuc

Founded in 2019, Hubuc is an embedded finance startup that allows businesses to integrate financial services capabilities into their products. From a single API and with just one contract, Hubuc covers compliance and provides access to fintech and banking services including payments acceptance, payments processing, physical and virtual credit cards issuance, and white label solutions.
Vitaance

Founded in 2021, Vitaance is an insurtech company focused on life insurance. Vitaance’s product combines a life and disability insurance for businesses with a 360° wellbeing platform for their employees. This way, companies can offer a life insurance to their employees that not only protects them, but also empowers them to live better every day and engage with their peers at work. This is done through a gamified system of challenges and rewards.
Payflow

Founded in 2020, Payflow is the developer of financial software designed to instantly collect the portion of workers’ salary corresponding to their work. The company’s software provides employees access to salaries and other benefits instantly without the need for their organizations to have cash flow in the middle of the month.
Paris (2)
Kard

Founded in 2018, Kard offers a digital banking offering for adolescents. Kids have one mobile app which allows them to receive and spend pocket money. Parents have another app that allows them to set spending limits and understand their offspring’s shopping habits. Kard claims more than 200,000 families on its platform.
Greenly

Founded in 2019, Greenly is the developer of a carbon tracking technology aimed to allow everyone to track their carbon footprint. The company’s technology automates the analysis of data collection by integrating with accounting or billing data of various software solutions, enabling it to calculate the emission scopes in real-time and generate carbon reports.
Lisbon (2)
Anchorage Digital

Founded in 2017, Anchorage Digital is a global regulated crypto platform that provides institutions with integrated digital asset financial services and infrastructure solutions including custody, staking, trading and financing. Anchorage Digital works with a global roster of institutional clients including crypto protocols, investment funds, banks, fintech companies and family offices, and is valued at over US$3 billion.
Coverflex

Founded in 2019, Coverflex is a compensation management solution that helps companies manage every part of compensation beyond salary, including benefits, insurance, meal allowance and exclusive discounts. For companies, it’s a way to easily give people more options and value. For employees, it’s the opportunity to create a custom compensation package that anyone can spend as they choose.
Stockholm (2)
Treyd

Founded in 2019, Treyd is a BNPL service for international supply chains. The service pays customers’ supplier invoices and lets them pay up to 120 days later in return, helping thus clients free up working capital. Treyd handles the credit assessment through a carefully developed model primarily based on the customer’s financial position and external rating data.
Doconomy

Founded in 2018, Doconomy is a leading provider of applied impact solutions serving banks, brands, and consumers. Doconomy’s impact calculation methodology calculates the carbon impact of every single financial transaction, product, lifestyle and corporation, allowing consumers to visualize their impact, receive insights to reduce consumption and be rewarded financially with refunds and other incentives.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/the-16-hottest-fintech-and-insurtech-startups-in-europe</link><guid>2903</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>The 16 Hottest Fintech and Insurtech Startups in Europe</dc:text></item><item><title>Mambu Extends Cloud Approach With AWS, Google Cloud and Microsoft Azure</title><description><![CDATA[Cloud banking platform Mambu has announced general availability across three leading cloud providers — Amazon Web Services (AWS), Google Cloud and Microsoft Azure.
The company says that this will allow customers to choose a provider based on their specific business, technical, regulatory, and geographical requirements, without impacting availability or service levels.
The announcement follows Mambu’s €235 million Series E investment from EQT and Acton Capital in December 2021, said to be the largest private funding round for a cloud banking platform.


The company’s recent senior hires include Werner Knoblich as Chief Revenue Officer, Tripp Faix as Chief Financial Officer, Fernando Zandona as Chief Product and Technology Officer, and Sabrina Dar as Chief of Staff to the CEO.
Fernando Zandona
“Having the opportunity to work with three of the leading cloud providers supporting over 230 banks and non-bank financial institutions is a game changer.

The general availability of these cloud providers on Mambu will help us continue to create better financial experiences for existing and new customers across the globe,”
said Fernando Zandona, Chief Product and Technology Officer at Mambu.
]]></description><link>https://fintechnews.eu/mambu-extends-cloud-approach-with-aws-google-cloud-and-microsoft-azure</link><guid>2901</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Mambu Extends Cloud Approach With AWS, Google Cloud and Microsoft Azure</dc:text></item><item><title>MoneyGram Is Now Haas F1 Team’s Title Sponsor in 2023 and Beyond</title><description><![CDATA[Digital payments company MoneyGram is now Haas F1 Team’s title sponsor for the 2023 season and beyond, with the new “MoneyGram Haas F1 Team” brand to take effect next year.
The Haas F1 Team is a a fan favorite and the only American team competing in the FIA Formula 1 (F1) World Championship, the world’s foremost motorsports competition with an audience of 500 million.
MoneyGram, who announced the sponsorship at the 10th anniversary of the United States Grand Prix, described it as “the fastest way to send money globally teaming up with the fastest sport in the world.”


The F1 2023 season will take place across 24 races held in 21 countries on five continents. The countries on next year’s circuit account for nearly 80% of MoneyGram’s transaction value.
Ireland-based B2B payments company TransferMate also began sponsoring the Haas F1 Team in 2022.
Gene Haas
“Since our entrance into the F1 World Championship in 2016, Haas F1 Team has earned a reputation of strength, agility and resilience. MoneyGram brings a similar drive to the world of financial services, and we’re ready to work together to maximize results on and off the track,”
said Gene Haas, Founder and Chairman of Haas F1 Team.
Alex Holmes
“MoneyGram is a different company than it was even five years ago. We will continue to disrupt ourselves to meet the ever-changing financial needs of consumers, and we’re determined to make sure the world knows it.

That’s why we’re hitting the accelerator by making our debut into the world of F1 and teaming up with Gene and Haas F1 Team,”
said Alex Holmes, MoneyGram Chairman and CEO.


]]></description><link>https://fintechnews.eu/moneygram-is-now-haas-f1-teams-title-sponsor-in-2023-and-beyond</link><guid>2902</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>MoneyGram Is Now Haas F1 Team’s Title Sponsor in 2023 and Beyond</dc:text></item><item><title>QR Code and Instant Payments are Fueling the Growth of Non-Cash Transactions</title><description><![CDATA[The pandemic prompted businesses and customers to embrace digital technologies and non-cash payment methods, fueling the adoption of innovative payment methods like QR code payments, digital wallets, and account-to-account (A2A) payments.
Adoption of digital payments among consumers and businesses will continue to rise in the years to come, driven by growing infrastructure improvements, market maturity and demand from customers for convenient, tech-enabled solutions, a new report by French information technology and consulting firm Capgemini says.
Between 2021 and 2026, non-cash transactions are projected to record a 16.5% compound annual growth (CAGR), rising from 989.4 billion transactions in 2021 to more than 2.1 trillion in 2026.


Increasingly mature digital payments infrastructure fuels non-cash transaction growth (volume in billions), Source: World Payments Report 2022, Capgemini
During that period, new payment methods, like instant payments, e-money, mobile and digital wallets, A2A and QR code, will rise in prominence, with their share growing from 17% of overall non-cash transaction volume in 2021, to 28% in 2026.
Estimates from Capgemini corroborate with projections made by other firms which forecast strong growth in usage of innovative payment methods in the years to come.
Independent research firm Juniper Research forecasts that global QR code payment users could reach 2.2 billion by 2025, up from 1.5 billion in 2020. This implies that almost 29% of all mobile phone users worldwide would be using QR code payments by then.
Similarly, instant payments are on track to a CAGR of around 29% between 2021 and 2025, reaching 428 billion in volume.
Meanwhile, A2A payments are expanding rapidly, especially in emerging markets, according to a new report by the Boston Consulting Group (BCG). In Brazil, PIX reached 122 million registered accounts in less than two years in operation. The number represents over half the country’s population. And in India, Unified Payments Interface (UPI), which was launched in 2016, was handling transaction volumes roughly 11 times those of credit and debit cards combined by 2021.
Moving forward, the growth of A2A real-time payments will only accelerate, thanks to continued investments in infrastructure modernization, BCG says, citing ongoing initiatives such as the RTP system in the US, which is scheduled for launch in 2023 and P27, a pan-regional payments system involving the Nordic countries.
Finally, e-money transactions are expected to witness a similar growth rate of about 27% between 2021 and 2026, to reach about 161 billion in volume. This growth will be driven by increased adoption of digital wallets, which Juniper Research forecasts will see 4.4 billion unique users by 2025.
New payment players gain attraction among SMEs
Changing consumer preferences and demand for streamlined customer journeys have pushed merchants to turn to digital solutions, the Capgemini report says. But a survey of 150 small and medium-sized enterprises (SMEs) as part of the study found that traditional banks and payment service providers are missing the mark when it comes to meeting SMEs’ needs.
Financial executives admit that SMBs face several unresolved issues, Source: World Payments Report 2022, Capgemini
Of the SME leaders surveyed, only 11% of respondents said they were happy with their banking relationships, 44% said they were dissatisfied, and 45% were indifferent. The result is that 89% of SMEs indicated being reconsidering relationships with their primary banks across various product categories.
But digitalization has opened the door to new-age players that are actively introducing innovative value propositions across the business-to-business (B2B) payments value chain.
Banking Circle and Currency Cloud, for example, provide global virtual payments and account networks. TransferMate is a paytech company that aims for end-user cross-border payments propositions. And Wise, formerly known as TransferWise, offers global multi-currency wallets to SMEs that reduce transfer costs while offering a higher level automation.
At the same time, several mature fintech companies are stepping up their B2B engagement. Players like Stripe, PayPal, Starling, Revolut, Block (formerly Square), and Wise are developing full-fledged digital ecosystems that bundle core payment services with other financial products like insurance policies, near-banking products like capital management and advisory, and non-financial products such as legal services and human resources, to offer a convenient one-stop value proposition for SMEs.
Ecosystems and marketplaces are an attractive strategy for new-age paytech companies, the report says. Ecosystems increase client intimacy and stickiness. They also expands client engagement touchpoints, providing players with richer and more diverse customer data which can then be used to further personalize services and boost long-term loyalty and retention. Finally, ecosystems can also help to harness untapped revenue streams.
Like retail digital payments, B2B digital payments have experienced steady growth over the past years. Adoption will continue rising in the coming years, with worldwide B2B non-cash transaction volume forecasted to grow 10.7% per year between 2021 and 2026 to reach 222 billion, according to Capgemini.
Worldwide B2B non-cash transaction volume is on the rise (billions, 2021-2026F), Source: World Payments Report 2022, Capgemini
Over the past years, paytech has been one of investors’ favorite fintech segments. Between 2016 and 2021, paytech companies accounted for roughly 20% of cumulative fintech equity funding raised during the period, according to BCG.
In H1 2022, investors funneled US$11 billion into payment-related fintech companies, lower than 2021 funding levels, but still well above the amounts generated in 2019 and 2020.
Payment fintech funding between 2016 and 2021, Source: Global Payments Report 2022, Boston Consulting Group

Featured image credit: edited from Freepik here and here
]]></description><link>https://fintechnews.eu/qr-code-and-instant-payments-are-fueling-the-growth-of-non-cash-transactions</link><guid>2900</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>QR Code and Instant Payments are Fueling the Growth of Non-Cash Transactions</dc:text></item><item><title>Diana Biggs Joins Crypto Fund 1k(x) as Partner From Digital Asset Company Valour</title><description><![CDATA[Crypto ecosystem growth fund 1k(x) has appointed Diana Biggs as Partner to drive partnerships that bolster its portfolio’s integration into real world applications.
Biggs was previously Chief Strategy Officer at Valour where she served as CEO of its digital asset ETP business. She led the company to over US$300 million in AUM and through its acquisition by DeFi Technologies.
Prior to Valour, Biggs built out innovation teams for HSBC, first for their retail banking business across the United Kingdom and Europe, and later as Global Head of Innovation for HSBC Private Banking.


1k(x) invests US$250,000 to US$20 million in early stage projects, from series seed to growth rounds. Its portfolio comprises more than 80 companies that span the crypto and web3 ecosystems.
Diana Biggs
“1k(x) has pioneered both cryptonative and community-first investing — it is deeply embedded in this space and passionate about providing hands-on support to founders to help these projects and technologies reach their full potential.

I am excited to join this dedicated and visionary team which is operating at the forefront of the emerging collaborative economy,”
said Diana Biggs, Partner, 1k(x).
Lasse Clausen
“As an early proponent of crypto and a former entrepreneur, Biggs’s leadership expertise from multinationals to emerging technologies spanning the entire financial services ecosystem will bring tremendous value to our portfolio companies and bolster our mission to create utility for bleeding edge applications,”
said Lasse Clausen, Founding Partner of 1k(x).
]]></description><link>https://fintechnews.eu/diana-biggs-joins-crypto-fund-1kx-as-partner-from-digital-asset-company-valour</link><guid>2899</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Diana Biggs Joins Crypto Fund 1k(x) as Partner From Digital Asset Company Valour</dc:text></item><item><title>UBS and Microsoft Expand Partnership Beyond Cloud Services</title><description><![CDATA[UBS and Microsoft announced an expansion of their partnership that will see more than 50% of UBS’ applications, including critical workloads, running on the Microsoft Azure cloud.
The expanded partnership will also help advance UBS’ sustainability initiatives and see the companies co-developing products for the bank and financial services industry.
UBS first announced in 2018 its “cloud-first” strategy which included plans to move one-third of its applications to the cloud within four years in partnership with Microsoft — a goal that was achieved ahead of schedule in February 2021.


UBS continues to move workloads from its own cloud servers to Azure, resulting in the energy consumption of some workloads to be reduced by up to 30%.
UBS and Microsoft also co-developed Carbon Aware API, an open-source solution that helps companies schedule workloads during times when sustainable sources of electricity are most available.
Additionally, the companies are exploring ways in which artificial intelligence (AI) and data can be used to enhance services for clients and employees.
For example, UBS is currently operating two applications in Switzerland that utilises conversational AI capabilities to respond to client e-mail inquiries.
UBS will also leverage Microsoft Power Platform to provide employees with the ability to quickly build professional-grade applications, create automated workflows and connect disparate data sources.
Mike Dargan
“Our cloud strategy has fundamentally changed the way we operate, allowing us to reinvigorate our technology estate and reimagine how we build applications for our clients.

Closely partnering and collaborating with Microsoft has and will continue to create tremendous value for our clients, our employees, the firm and our shareholders,”
said Mike Dargan, Chief Digital and Information Officer, UBS Group.
Scott Guthrie
“UBS is a forward-thinking leader in the financial services industry, and Microsoft has been fortunate to co-develop innovative applications that meet complex, regulatory requirements with their engineering teams over the past several years,”
said Scott Guthrie, Executive Vice President, Cloud + AI, Microsoft.
]]></description><link>https://fintechnews.eu/ubs-and-microsoft-expand-partnership-beyond-cloud-services</link><guid>2895</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>UBS and Microsoft Expand Partnership Beyond Cloud Services</dc:text></item><item><title>Onfido Promotes Yuelin Li to Chief Product Officer to Lead Product Strategy</title><description><![CDATA[Identity verification platform Onfido has promoted Yuelin Li to Chief Product Officer to oversee product strategy and direction, and further establish Onfido’s category leadership in identity verification and fraud mitigation.
Li has been instrumental in driving Onfido’s strategy, product vision and corporate development over the past five years, most recently as the company’s Chief Strategy Officer.
Li helped scale Onfido from a 100-person company to the global organisation it is today with more than 680 employees, 900 clients, and over US$100 million in revenue.


Onfido says that it currently serves 10 of the largest global banks, six of the largest global remittance companies, three of the largest BNPL providers, two of the largest crypto exchanges, and three of the largest online gaming operators.
The company last raised a US$100 million Series D and hired Mike Tuchen as CEO in 2020.
Mike Tuchen
“Yuelin’s promotion to Chief Product Officer is the result of her dedication to simplifying digital identity for our customers over the last five years and her expertise in developing a world-class product strategy and vision for Onfido,”
said Mike Tuchen, Chief Executive Officer at Onfido.
]]></description><link>https://fintechnews.eu/onfido-promotes-yuelin-li-to-chief-product-officer-to-lead-product-strategy</link><guid>2896</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Onfido Promotes Yuelin Li to Chief Product Officer to Lead Product Strategy</dc:text></item><item><title>SDX, BEKB and Daura Team Up to Enable SMEs to Issue Tokenised Shares</title><description><![CDATA[Berner Kantonalbank (BEKB), SIX Digital Exchange (SDX) and digital share platform daura are partnering to enable SMEs to issue their shares digitally in a regulated, intermediated form.
BEKB will provide their secondary liquidity SMEx platform, daura will provide its digital share registry and digital annual general meeting solutions, while SDX will provide its digital asset issuance infrastructure.
The digital shares will be issued in the form of uncertificated securities or distributed ledger technology (DLT) securities in accordance with Swiss regulations and made available for regulated bank custody.


daura will be the first user of this model when it issues private participation certificates through BEKB’s platform. These shares will then be registered on the SDX CSD.
While this is a new collaboration between BEKB and SDX, daura has been providing SDX with DLT-based share registry services and tokenisation since April 2022. SDX’s parent company SIX acquired a stake in daura in late 2019.
David Newns
“As the world’s first fully regulated and fully integrated digital securities platform offering issuance, listing, trading, settlement, servicing, and custody of digital securities, SDX is very excited to welcome Berner Kantonalbank as a new member on our CSD,”
said David Newns, Head of SDX.
Armin Brun
“For BEKB, this partnership is the next stage in the expansion of its SME|X secondary market, which will consequently become accessible to other players outside the current ecosystem in the near future,”
said Armin Brun, CEO of BEKB.
Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/sdx-bekb-and-daura-team-up-to-enable-smes-to-issue-tokenised-shares</link><guid>2897</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>SDX, BEKB and Daura Team Up to Enable SMEs to Issue Tokenised Shares</dc:text></item><item><title>Wealth Managers Reluctant to Invest in Crypto</title><description><![CDATA[Wealth managers around the world are still reluctant to invest in cryptocurrency on behalf of their clients amid concerns over the lack of regulation, the lack of education as well as high volatility, a new study by American asset management company Mercer found.
The survey, which polled 125 wealth managers worldwide, found that just 8% of participants indicated having invested in crypto for their customers.
Wealth managers in Europe were found to be the most open to the new asset class, with 12% of respondents in the region stating that they did invest in crypto in client portfolios, while their American counterparts ranked as the least open to crypto with just 3%.


Do you invest in cryptocurrency on behalf of your clients?, Source: Mercer’s 2022 Global Wealth Management Investment Survey
Unsurprisingly, wealth managers cited the lack of regulation (63%), the lack of transparency and education (51%), and high volatility (47%) as their biggest concerns regarding crypto.
With regard to investing in cryptocurrency on behalf of your clients, which of the following characteristics of cryptocurrency investing are you most concerned about?, Source: Mercer’s 2022 Global Wealth Management Investment Survey
The survey also sought to understand what wealth mangers believed were their biggest opportunities. Reflective of their concerns about low investment returns, respondents identified diversifying away from traditional asset classes (59%) as the biggest investment opportunity over the next two years. Opportunities related to climate change (41%) also ranked highly, followed by technology (31%) and demographic shifts (28%).
Environmental, social and governance (ESG) (3%), investing in China (9%) and digital assets (18%) ended up as the lowest-ranked opportunities for wealth managers.
What, in your view, are your organization’s top two investment opportunities over the next two years?, Source: Mercer’s 2022 Global Wealth Management Investment Survey
Wealth managers’ reluctance to engage in crypto came despite a rather considerable proportion of them holding the belief that within the next few years, crypto will become an institutional-grade investment. 44% of respondents agreed that this statement was likely or highly likely to happen. An equal number of respondents said it was unlikely or highly unlikely to be the case, while 13% saying they did not know.
How likely do you think it is that cryptocurrency will become an institutional-grade investment in the next five years?, Source: Mercer’s 2022 Global Wealth Management Investment Survey
Results of the Mercer survey echo those of similar studies on the topic which largely revealed investment professionals’ hesitation to participate in crypto markets.
A Natixis Investment Managers survey published in February 2022 found that roughly two out of three “fund selectors” – the professionals in charge of analyzing and choosing the investments their firms offer customers – don’t believe individual investors should own cryptocurrency in their portfolios.
Like the findings of the Mercer survey, these investment professionals’ reluctance was found to be largely due to challenges relating to crypto’s transparency issues and the industry’s lack of regulation. About 87% agreed crypto assets needed to be more transparent, while 84% indicated thinking that the asset class needed some type of regulatory oversight.
Cryptocurrencies are considered a risky investment in part due to their highly volatility and unpredictable price fluctuations. Since November 2021, nearly US$2 trillion has been wiped off the crypto market in what experts have warned as being a “crypto winter,” or a prolonged bear market.
Customer demand remains high
Despite high volatility and unclear regulations, private investors have continued to show interest in crypto.
A 2022 study conducted by Strategy&amp; and PwC, which polled 2,000 private crypto investors in Germany, Switzerland and Turkey, found that 10% of all Germans and 17% of all Swiss owned cryptocurrencies.
50% of those surveyed indicated having invested between EUR 1,000 and EUR 10,000 in the asset class, and over 80% of crypto-investors said they wanted to expand their crypto holdings.
These figures show that crypto is no longer a niche product and has, for several investors, become a key component in their asset portfolio, the report says.
Total global wealth grew by 9.8%, totaling US$463.6 trillion as of the end of 2021, according to the 13th edition of the Credit Suisse Global Wealth Report. Setting aside exchange rate movements, this translates to a growth rate of 12.7% in aggregate global wealth, the fastest annual rate ever recorded, the report says.
Wealth per adult rose 8.4% during the course of the year to reach US$87,489, close to three times the level recorded at the turn of the century.
All regions contributed to the rise in global wealth, but North America and China dominated. North American accounted for a little over half the global total and China, for about a quarter, the report says. In contrast, Africa, Europe, India and Latin America together accounted for just 11.1% of global wealth growth.
With over 140,000 ultra-high-net-worth individuals (with wealth above US$50 million) in 2021, the US continued to rank the highest in the wealth pyramid, followed by China with 32,710 individuals. Worldwide, Credit Suisse estimates that there were 62.5 million millionaires at the end of 2021, 5.2 million more than the year before.

Featured image credit: Pexels
]]></description><link>https://fintechnews.eu/wealth-managers-reluctant-to-invest-in-crypto</link><guid>2894</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Wealth Managers Reluctant to Invest in Crypto</dc:text></item><item><title>Zuger Lending Startup i2 Group bekommt 3.8 Mio. Franken Finanzierung</title><description><![CDATA[Das Zuger Fintech i2 invest hat im Rahmen einer überzeichneten Finanzierungsrunde die Finanzierung um insgesamt 3.8 Mio. Fr. erhöht. Zu den Investoren gehören Schweizer Business Angel und ein englischer Hedge Fund-Manager. Zudem beteiligten sich zwei Family Offices an der Runde. Der Finanzexperte Philipp Schnyder, ehemaliger Managing Director bei Partners Group, verstärkt den Verwaltungsrat.
Der Bereich Private Debt (Kredite, die nicht von Banken vergeben werden) ist am boomen. 2021 hat das Volumen 1187 Mrd. USD erreicht, eine Vervierfachung in zehn Jahren. Grund dafür ist das steigende Interesse von institutionellen und privaten Investoren an attraktiven Alternativen zu den gängigen festverzinslichen Anlagen.
Das Management einer Vielzahl von solchen Krediten ist aber eine Aufgabe, die mit Excel nur schwer zu bewältigen und fehleranfällig ist. Das stellt Vermögensverwalter, die bereits Anlageprodukte lanciert haben oder das gerne tun würden, vor eine herausfordernde Aufgabe. Diese löst i2 Group mit ihrer Software, die bereits bei vier Asset Managern zum Einsatz kommt. Seit Lancierung hat i2 Group bereits in über 500’000 verschiedene Kredite investiert. Das Fintech übernimmt, wenn gewünscht, die Strukturierung verschiedener Anlagegefässe (Notes, Bonds oder Alternative Investment Funds) mit einer eigenen Struktur oder mit Partnern.


Gregor Stadelmann
“Wir freuen uns, dass Philipp Schnyder seine breite Erfahrung unserer jungen Firma zur Verfügung stellt und unser Angebot zunehmend auf Anklang stösst bei Vermögensverwaltern, die diese boomende Anlageklassen für ihre Kunden erschliessen wollen”,
sagt Gregor Stadelmann, CEO und Mitgründer von i2 invest.

Auf dem Foto von Rechts nach Links: Dominik Hertig (Head of legal and operations), Gregor Stadelmann (CEO), Marco Müller (Head of strategy and business development), Markus Benz (Head of technology).
]]></description><link>https://fintechnews.eu/zuger-lending-startup-i2-group-bekommt-38-mio-franken-finanzierung</link><guid>2892</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Zuger Lending Startup i2 Group bekommt 3.8 Mio. Franken Finanzierung</dc:text></item><item><title>Swiss Universal Banks Top Digital Performance Ranking Ahead of Neobanks and Challengers</title><description><![CDATA[Traditional banking institutions are performing better than digital challengers on their digital presence, engagement, social media and app usage, according to Colombus Consulting’s latest edition of the Digital Index and Performance of Swiss Players report.
The study, which looks at digitalization of the customer experience in Swiss retail banking, gives a ranking of the country’s best performing banks and neobanks each year, taking into consideration 50 metrics in four categories: web, mobile, marketing, and social. The report also provides insights into how retail banks are digitalizing customer relationship and experience, and measures the evolution over time.
This year’s study ranked UBS, PostFinance, Raiffeinsen and Credit Suisse at the top of the list. These banks are surpassing their competitors in terms of monthly web visits, average time spent by visitors, and average page load time of their websites, an indicators of their websites’ usability and performances as well as of client experience. They also ranked high in digital marketing, leading the group in estimated annual digital market budget, the number of visits they get from banners, and the number of visits from search.


UBS topped the 2022 ranking this year again, recording a very good performance on social networks and good results on the web (especially in terms of performance) and on digital marketing. Social networking involves looking at components like the number of a bank’ subscribers and the volume of monthly engagement on popular social media platforms to gauge their reach and know whether or not they are actively interacting with users online.
After UBS, PostFinance, the financial services unit of Swiss Post, ranked second with a strong performance mainly in marketing, and partly in web and mobile applications. Mobile application criteria are centered around performances and reviews, and aim to get a sense of customer satisfaction of the banks’ mobile tools. PostFinance, however, underperformed on the social networking component.
Raiffeisen ranked third, outperforming competitors on web, but underperforming on social networks and marketing. The bank did rank respectably on mobile apps.
Credit Suisse maintained its fourth position this year, recording a more balanced profile than the rest of the players.
Revolut closed the top 5 ranking, standing out for its excellence in mobile apps but lagging far behind in areas including digital marketing and social networks.
Top 5 Digital Index and Performance of Swiss Players 2022, Source: Colombus Consulting, 2022
Besides Revolut, Swissquote and Yuh were the only other digital banks that made it into this year’s top ten ranking. Swissquote is a Swiss banking group founded in 1996 that specializes in the provision of online financial and trading services, and Yuh is a fairly new player launched just in May 2021.
A joint product from Swissquote and PostFinance, Yuh is an app-based online account and debit card that offers no fees for everyday spending and low fees for specialized services such as international transfers and investing.
Overall, this year’s study revealed that the digitalization of customer relations is accelerating in Switzerland, and that the gap is narrowing between traditional retail banks and digital banks, the report says. However, differences still exist, with digital challengers retaining the upper hand in innovation and digital customer relationship.
Revolut, for example, was the first bank to offer an education program that rewarded customers who completed training modules. It also provides innovative features on its mobile app like the ability to generate one-time virtual cards for online purchases that are automatically destroyed once payment is made.
Looking at trends observed over the past year, the report firm notes that digital account opening has become the new standard in the industry with the majority of banks in the country now offering fully remote onboarding.
It also notes that hybrid banking offers have become a popular strategy across traditional banking institutions, with Credit Suisse, for example, operating a dedicated digital banking brand called CSX which provides banking services online at more competitive prices.
CIC is one of the latest institutions to have entered the niche, having launching in September 2022 its CIC ON offering. CIC ON provides a comprehensive range of services, ranging from “everyday banking” to topic-specific investments and personal advice.
Others, like UBS, have embraced a multi-app strategy. The bank currently offers 15 different mobile apps focusing on different needs and users.
The UBS Mobile Banking app, for example, allows customers to manage their accounts; UBS Twint is a free mobile payment app; UBS Access is a security app that allows users to confirm new payment recipients and online purchases; UBS Safe lets users securely store their passwords as well as emergency documents like identity papers; UBS Welcome allows customers to verify their identity and/or electronically sign documents; and UBS Financial Services lets users manage their cash and accounts, set budgets and track spending.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/swiss-universal-banks-top-digital-performance-ranking-ahead-of-neobanks-and-challengers</link><guid>2893</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Swiss Universal Banks Top Digital Performance Ranking Ahead of Neobanks and Challengers</dc:text></item><item><title>Yokoy Brings Its Spend Management Automation Platform to Spain</title><description><![CDATA[Swiss spend management automation company Yokoy has opened an office in Madrid to better serve mid-to-large sized enterprises in Spain with a local team.
Yokoy helps companies centralise spending activities in a single platform, automate processes by automatically reading out invoices and expense receipts, and manage card transactions with its corporate card solutions.
The platform also integrates with existing ERP systems, works in multiple currencies, adapts to local regulations, and automatically reads the tax rates which prepares the accounting journal for correct posting and VAT reclaim.


Yokoy previously opened its European hub in Amsterdam in February 2022, and has offices in Munich and Vienna. The company also came in first on the TOP 100 Swiss Startups 2022 rankings.
Siro Márquez
“I was always irritated by how cumbersome it was to manually submit, check, approve and process expenses and invoices. Yokoy solves that frustration by consolidating and fully automating all aspects of spend management,”
said Siro Márquez, a Senior Account Executive in Yokoy’s Madrid office.



Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/yokoy-brings-its-spend-management-automation-platform-to-spain</link><guid>2898</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Yokoy Brings Its Spend Management Automation Platform to Spain</dc:text></item><item><title>Meet the 10 Fintech Startups Selected for the Venture Leaders 2022 Cohort</title><description><![CDATA[Venturelab has selected 10 Swiss fintech startups for the fifth edition of the Venture Leaders Fintech programme, organised in partnership with Swissnex and supported by EPFL (École polytechnique fédérale de Lausanne), ETH Zürich, and Walder Wyss.
The 10 startups, dubbed the Swiss National Fintech Team, will kick off their roadshow in November at the Fintech Connect event in London where they will also participate in the Fintech Expo.
The Venture Leaders programme aims to provide promising Swiss startups a platform to build their network, attend advanced trainings, and showcase their startup to raise funds.


Venturelab has been orgnising the programme for the past 18 years with previous editions involving roadshows to Silicon Valley, Boston, New York, Hong Kong, Shanghai and Barcelona.
Venture Leaders Fintech alumni include startups such as Qumram (acquired by Dynatrace), AAAccell (acquired by LPA Group), and Sonect who was made the TOP 100 Scale-Ups 2022 rankings.
Sandipan Chakraborty
“Venture Leaders is a program that helps founders expand their vision beyond Swiss borders and amplifies their aspirations to become a global leader. If you need to do a litmus test of a market by engaging with potential customers or connect with local investors to access their network, Venture Leaders is the right program to give you tangible results in just one week,”
said Sandipan Chakraborty, Founder and CEO of Sonect and Venture Leader Fintech 2017.
Jordi Montserrat
“This Venture Leaders Fintech 2022 team offers an impressive range of products serving SMEs, investors, financial institutions, and NGOs to help them bring their business forward. From implementation simplicity to cost-efficiency, these new solutions are here to make a difference. We look forward to the London Roadshow,”
said Jordi Montserrat, CEO of Venturelab.

The Venture Leaders Fintech Team 2022

AIDONIC (Zug)

AIDONIC is an end-to-end payments infrastructure and data management platform for humanitarian organizations to accelerate financial inclusion with real-time impact tracking. AIDONIC empowers philanthropic actors to deliver aid faster, cheaper, and fully transparently, powered by blockchain technology.

amnis (Zurich)

amnis aims to reshape international banking for SMEs across Europe. In addition to currency exchange and cross-border payments, the global business account includes real-time P2P transfers and individual IBAN accounts to receive funds in 20+ currencies, beginning with a free starter plan.

Aktionariat (Zurich)

Aktionariat offers a technical solution that allows shares to be tokenized and easily traded by using the Ethereum Blockchain. Aktionariat not only enables tokenization for business customers but also creates their own decentralized and automated marketplace.

grape (Zurich)

grape is a digital B2B insurer. As a next-gen insurance company, grape provides its enterprise customers insurance contracts bundled with a B2B SaaS product that saves them time managing their claims, enhances absences management, and improves their employees’ health.

Fidentity (Berne)

fidentity creates trust between two parties by providing digital identification and signing at the highest level of legal compliance in an integrated solution. fidentity is extremely simple to use and provides the highest security coupled with flexible modes of integration.

LEVA (Zurich)

LEVA is an award-winning online platform enabling the establishment and management of investment syndicates. In less than two years, business angels, wealth managers, family offices, and fund managers from all over Europe have launched over 250 syndicates on the LEVA platform.

Money Masters (Geneva)

Money Masters works to make financial education accessible, fun, and simple. They have created a gamified and interactive education platform that makes it easy to learn about money – in essence, “The Duolingo of Finance.”

nobank (Zug)

nobank believes that non-custodial wallets are essential for the future of Web3. Existing wallets are still too complicated to onboard the next billion users, which is why nobank makes Web3 accessible and genuinely useful to everyone by offering the simplest way to directly interact with assets on the blockchain.

Splint Invest (Zug)

Splint Invest empowers individual investors by providing a sustainable platform that makes alternative assets accessible for everyone through fractional investing.

ZEMP (Lucerne)

ZEMP reinvents tired stationary retail to a mobile global sales platform for every mobile device user in the world. Converging POS and PAY into one seamless intuitive retail solution for B2C or B2B, it is available as a standalone app or integrated in any payment, banking or service product.

]]></description><link>https://fintechnews.eu/meet-the-10-fintech-startups-selected-for-the-venture-leaders-2022-cohort</link><guid>2890</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Meet the 10 Fintech Startups Selected for the Venture Leaders 2022 Cohort</dc:text></item><item><title>Revolut, Wise and Neon Are the Cheapest Neobanks in Switzerland</title><description><![CDATA[Online comparison service moneyland.ch conducted a study to compare the cost of using banking, card and foreign exchange services provided by seven leading neobanks in Switzerland — CSX, Neon, Revolut, Wise, Yapeal, Yuh, and Zak.
The study found British neobanks Revolut and Wise to be the cheapest options overall, followed by Swiss neobanks Neon and Yuh.
Digital payments and neobank awareness are on the rise in Switzerland, according to research from the Swiss Payment Monitor, with eight out of 10 card payments processed contactlessly in 2020.


Nevertheless, a separate study also found that Swiss residents remain reluctant to join neobanks and non-traditional banking providers, with around 80% of those surveyed having little to no interest in banking with such companies.
More than 310 neobanks have launched around the world in the past decade, attracting an estimated 39 million users globally, with most of them located in Europe.
Cost of neobank’s credit cards and transactions
The study found that Revolut and Wise provided the cheapest card transactions, followed by Swiss neobank Neon. Meanwhile, Credit Suisse’s neobank CSX was the most costly option.
Wise and Revolut were again the cheapest neobanks when it came to international transactions, followed by Neon, Yapeal and Yuh. Zak and CSX were found to be five times more expensive than the cheapest options.
Online comparison service moneyland.ch compared seven neobanks available to Swiss consumers. Revolut, Wise, and Neon are the cheapest. Source: moneyland.ch
Conventional Swiss credit cards are still the most favourable option for purchases in Switzerland since cards from neobanks — while free to use for customers — do not reward cash back.
Most neobanks have foreign transaction costs of under one percent for CHF to EUR exchanges. The only neobanks of the seven studied with currency exchange costs above one percent are Zak and CSX.
The foreign transaction costs of most conventional Swiss credit cards, on the other hand, equal between three and five percent of the transacted amount.
Different types of neobank accounts
All the neobanks included in the study have offers with no basic account fees and all offered cash withdrawals at ATMs and card payments at physical and online shops.
Neobanks also offer a wide selection of paid accounts. In some cases, paid premium accounts work out cheaper than offers with no basic account fees when total costs were considered.
For example, while Revolut will begin charging a fee on 25 October 2022 when users add money to their standard account using a debit or credit card issued in Switzerland, top-ups to their paid accounts remain free.
CSX, Yapeal, and Zak also have paid accounts which include complimentary ATM cash withdrawals, while Yapeal only offers fee-free bank transfers in its paid accounts.
Neon offers accounts with metal payment cards and has a sustainable account which helps finance the planting of trees in users’ names.
Neobanks with Swiss bank accounts
However, not all of the neobanks included in the study offer bank accounts in Switzerland.
Revolut and Wise do not include a Swiss bank account, while the Yapeal Loyalty account provides a bank account number for receiving transfers but does not allow users to transfer money to other bank accounts.
Neobanks generally do not charge bank transfer services charge fees for transfers to and from other Swiss bank accounts.
Currently, the only neobanks which pay interest on private account balances are Yuh and Zak.
Swiss neobank Yuh came in first place in the comparison limited to neobanks who do offer Swiss bank accounts, followed closely by Neon. Yappeal came in a distant third, while CSX was significantly more costly in all aspects.
]]></description><link>https://fintechnews.eu/revolut-wise-and-neon-are-the-cheapest-neobanks-in-switzerland</link><guid>2891</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Revolut, Wise and Neon Are the Cheapest Neobanks in Switzerland</dc:text></item><item><title>Relai Partners Checkout.com to Enable Instant Bitcoin Purchases</title><description><![CDATA[Swiss Bitcoin investment app Relai has partnered with global payments provider Checkout.com to enable its users to buy the cryptocurrency via Visa, Mastercard and Apple Pay in real time through its self-custodial wallet.
The partnership with Checkout.com is expected to allow users to have constant access to instant liquidity while also ensuring that they have full say over what happens to their assets.
Founded in 2020, Relai currently serves over 40 countries in Europe, has over 100,000 app downloads, 30,000 active users, and CHF 6 million in monthly volume.


The startup last raised a CHF 2.5 million Series A round in mid-2021 and recently made the TOP 100 Swiss Startup Awards 2022.
Checkout.com is a London-based payments solutions provider with a US$40 billion valuation. The company recently acquired French identity verification startup Ubble and partnered with Fireblocks to offer its 24/7 stablecoin settlement solution.
Julian Liniger
“At a time when it’s increasingly important for people to have control over their money, we are thrilled to announce our partnership with Checkout.com,”
said Julian Liniger, CEO and Co-Founder at Relai.
Esteban Sadurni
“We’re excited to partner with Relai supporting their mission to make bitcoin easier, simpler, safer, and more accessible for everyone using our payments technology,”
said Esteban Sadurni, Director, Crypto &amp; Digital Assets at Checkout.com.
]]></description><link>https://fintechnews.eu/relai-partners-checkoutcom-to-enable-instant-bitcoin-purchases</link><guid>2886</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Relai Partners Checkout.com to Enable Instant Bitcoin Purchases</dc:text></item><item><title>vestr Raises CHF 10M in a Round Led by Raiffeisen Bank’s Elevator Ventures</title><description><![CDATA[Swiss investment management technology company vestr has raised CHF 10 million in a funding round led by Elevator Ventures, the venture capital arm of Vienna-based Raiffeisen Bank International (RBI).
The round was said to include high profile family offices as well as all of vestr’s existing institutional investors including EquityPitcher Ventures, Zürcher Kantonalbank, and SIX Fintech Ventures.
Founded in 2017, vestr provides white label investment management solutions to institutional clients. Its platform includes features such as portfolio rebalancing, investor reporting, and audit trails.


The funding will enable the company to develop a more comprehensive platform with more third-party integrations, as well as expand its presence in Asia.
Rico Blaser
“This new financing provides vestr with the firepower to continue our triple-digit annual growth, while also ensuring manageable equity dilution for existing shareholders,”
said Dr. Rico Blaser, Co-Founder and CEO of vestr.
Maximilian Schausberger
“We value not only vestr’s extensive knowledge of the market needs, but also their forecast of future requirements of active investments,”
said Maximilian Schausberger, Managing Director of Elevator Ventures.
]]></description><link>https://fintechnews.eu/vestr-raises-chf-10m-in-a-round-led-by-raiffeisen-banks-elevator-ventures</link><guid>2887</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>vestr Raises CHF 10M in a Round Led by Raiffeisen Bank’s Elevator Ventures</dc:text></item><item><title>Microsoft Switzerland Appoints Christian Thier as New Financial Services Industry Lead</title><description><![CDATA[Microsoft Switzerland has appointed Christian Thier as its new Financial Services Industry (FSI) Lead, reporting directly to the country general manager and serving as part of Microsoft’s Swiss leadership team.
Christian Thier has been leading Microsoft’s FSI team in Switzerland as part of its enterprise commercial business for over four years. He first joined the company in September 2016.
Prior to that, he was Global Business Director for UBS and spent over 15 years in the financial services industry in various leadership roles.


Financial services is now a separate business unit within Microsoft and the creation of the FSI lead role is said to reflect the vertical’s importance within the company.
With Thier’s addition, Microsoft Switzerland’s leadership team now has 15 members, headed by Country General Manager Catrin Hinkle and Chief Financial Officer Alexander Gaertner.
Catrin Hinkel
“Today, our customers require individual solutions for their individual needs. For that reason, Microsoft Switzerland has decided to elevate the Financial Services Industry as its own business unit to reflect the importance of this industry and to serve our customers even better.

I am delighted to announce Christian Thier as our Swiss FSI Lead and newest addition of the Swiss Leadership Team, reporting directly to me,”
said Catrin Hinkel, Country General Manager, Microsoft Switzerland.
]]></description><link>https://fintechnews.eu/microsoft-switzerland-appoints-christian-thier-as-new-financial-services-industry-lead</link><guid>2888</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Microsoft Switzerland Appoints Christian Thier as New Financial Services Industry Lead</dc:text></item><item><title>Ist das der beste Hypotheken-Vergleich, den es je gab?</title><description><![CDATA[Die neuen Features von Valuu machen das Vergleichen und Optimieren Ihrer Hypothek noch transparenter und schneller. Sie sehen mehr Details, vergleichen Angebote einfacher und wählen bequemer Ihre beste Hypothek. Damit setzt unsere Vergleichs- und Abschlussplattform einmal mehr Standards im Schweizer Hypotheken-Markt.

Details in Kürze oder voller Länge sehen
Valuu vereint den einfachen Online-Abschluss mit umfänglicher Angebotstransparenz für Finanzierungen. Darum sehen Sie Ihre individuellen Hypotheken-Angebote immer schnell auf einen Blick. Neu können Sie für jedes Angebot detaillierte Informationen ein- und ausblenden. So kennen Sie alle Vorteile, Konditionen, Gebühren und Wissenswertes zu Ihrem Kreditgeber, bevor Sie Ihre Finanzierung abschliessen.


Transparenz auf den Punkt gebracht
Verbessert haben wir auch den Vergleich von Angeboten. Sie können jetzt Ihre Favoriten in einer Merkliste speichern. Praktisch ist auch der Direktvergleich von 2 zwei und mehr bis zu drei Angeboten. Wählen Sie die gewünschten Hypotheken aus und vergleichen Sie vom Zins bis zu den nötigen Dokumenten alle Aspekte transparent. Darunter auch Infos zum Thema Nachhaltigkeit. Ein neu geschaffenes Segment zeigt nachhaltige Angebote Ihrer gewählten Kreidtgeber. Und das beste: mit nur einem Klick sehen Sie alle Unterschiede der Angebote gewählten Hypotheken auf einen Blick.
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Valuu bietet tagesaktuelle Angebote und passt diese immer Ihren Angaben an. Darum können Sie Ihre Hypothek mit Valuu ganz nach Ihren Bedürfnissen optimieren. Das passende Modell und die Laufzeit auszuwählen, geht dank neuer Dropdown-Funktion jetzt noch einfacher. Klicken Sie sich durch Ihre Optionen und sehen Sie sofort, wie sich die Kosten für Ihre Finanzierung ändern. Warten Sie nicht, sondern finden Sie jetzt Ihre beste Hypothek mit Valuu.


[embedded content]
]]></description><link>https://fintechnews.eu/ist-das-der-beste-hypotheken-vergleich-den-es-je-gab</link><guid>2889</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/valuu-Hypotheken-Vergleich-1024x683.jpg?x30842</dc:content ><dc:text>Ist das der beste Hypotheken-Vergleich, den es je gab?</dc:text></item><item><title>TripActions Raises US$150M at US$9.2B Valuation as Business Travel Recovers</title><description><![CDATA[Travel expense management platform TripActions has raised a US$300 million Series G at a US$9.2 billion post-money valuation. The raise is a combination of US$154 million in equity and a US$150 million structured capital transaction led by Coatue.
The announcement comes as the platform recorded a surge of more than 7.5-times in spend volume, and gross bookings increased by more than five times year-on-year in its latest fiscal quarter.
The funding will be used to accelerate the company’s expansion, which in the past year included the launch of its card-led automated expense management platform TripActions Liquid in Europe.


Founded in 2015, this is TripActions’ third financing round in three years. Its last round was in October 2021 when it raised US$275 million at a US$7 billion pre-money valuation.
TripActions’ platform includes features such as dynamic travel policy, real-time reporting with benchmark data, traveler incentive programmes, and built-in spend controls.
The latest funding round also sees the addition of Premji Invest Managing Partner Sandesh Patnam to TripActions’ Board of Directors and Coatue Ventures Chairman Dan Rose as Board Observer.
Ben Horowitz
“From the start, TripActions revolutionised business travel by automating, personalising, and professionalising the experience. Despite a pandemic that brought business travel to a standstill, the company doubled down on innovation and now those bets are paying off in a big way,”
said Ben Horowitz, Co-Founder and General Partner at Andreessen Horowitz.
Dan Rose
“At a time when companies are more focused than ever on controlling expenses, TripActions saves enterprise companies money by aligning employees’ incentives with the business,”
said Dan Rose, Chairman at Coatue Ventures.

]]></description><link>https://fintechnews.eu/tripactions-raises-us150m-at-us92b-valuation-as-business-travel-recovers</link><guid>2885</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>TripActions Raises US$150M at US$9.2B Valuation as Business Travel Recovers</dc:text></item><item><title>Mastercard, Paxos Launch Crypto Trading Solutions for Financial Institutions</title><description><![CDATA[Mastercard has launched Crypto Source, a new programme to provide the payment giant’s financial institution partners access to a suite of buy, hold and sell services for select crypto assets.
Additionally, Mastercard is also expanding its partnership with blockchain infrastructure platform Paxos. Paxos will provide crypto asset trading and custody services, while Mastercard will integrate those services into banks’ interfaces.
The new programme will be complemented by Mastercard Crypto Secure, its new CipherTrace-enabled offering to help banks and other card issuers assess the risk profile of crypto services providers.


Mastercard’s suite of crypto-related offerings also includes crypto spend and cash out capabilities, as well as end-to-end support for banks, fintechs and issuers to offer crypto programmes at scale.
Mastercard Crypto Source is currently being prepared for pilot programmes. Additional details on broader availability will be made available at a later date.
Ajay Bhalla
“What we are announcing today is a connected approach to services that will help bring users safely and securely into the crypto ecosystem.

Our recent investments in this space, such as the acquisition of CipherTrace and Ekata, are providing us with a unique set of capabilities to help provide our customers and consumers with the most technically advanced solutions available in the market,”
said Ajay Bhalla, President, Cyber &amp; Intelligence at Mastercard.
Walter Hessert
“Mastercard has a powerful network of financial institutions around the world. This exciting offering developed by Paxos and Mastercard will give them the fastest and most trusted way to offer safe, reliable crypto access for their consumers globally,”
said Walter Hessert, Head of Strategy at Paxos.
]]></description><link>https://fintechnews.eu/mastercard-paxos-launch-crypto-trading-solutions-for-financial-institutions</link><guid>2883</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Mastercard, Paxos Launch Crypto Trading Solutions for Financial Institutions</dc:text></item><item><title>SEBA Bank Is Now an ETP Issuer on the BX Swiss</title><description><![CDATA[Swiss stock exchange BX Swiss announced that crypto bank SEBA Bank is now issuing exchange-traded products (ETPs) on its platform with a tracker certificate on the SEBA Metaverse Index for trading.
SEBA Bank’s ETP, which trades under the ticker SMETA, focuses on crypto assets from the gaming, entertainment and social interaction sectors in the virtual world.
The product is fully collateralised and 100% physically backed, and is geared towards investors who wish to participate in the development of the metaverse.


With this addition, BX Swiss now offers 52 ETPs from 13 issuers tradable daily from 9.00 am to 5.30 pm.
Founded in 2018, SEBA Bank is a digital assets firm with a Swiss banking license from FINMA. The company last raised a CHF 110 million Series C funding round in January 2022.
Matthias Müller
“With SEBA Bank, we were able to gain the third new ETP issuer this year. With the SEBA Metaverse Index, the investment universe on BX Swiss now extends to over two dozen different cryptocurrencies,”
said Matthias Müller, Head of Markets &amp; Services, BX Swiss.
Gregory Mall
“The SEBA Metaverse Index provides exposure to digital assets designed to capture the accelerating trends of gaming, entertainment and social interactions into virtual environments. SMETA’s constituents include tokens with exposure to the metaverse, selected based on their market capitalisation and liquidity,”
said Gregory Mall, Head Investment Solutions, SEBA Bank.
]]></description><link>https://fintechnews.eu/seba-bank-is-now-an-etp-issuer-on-the-bx-swiss</link><guid>2884</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>SEBA Bank Is Now an ETP Issuer on the BX Swiss</dc:text></item><item><title>BNPL Startup HeidiPay Gets Funding From Mediobanca’s Credit Arm Compass</title><description><![CDATA[Swiss BNPL startup HeidiPay has closed a new funding round led by Italian banking group Mediobanca’s consumer credit arm Compass. The amount, which comprised equity and debt financing, was not disclosed.
The funding builds on the companies’ existing partnership in Italy in which HeidiPay provides Compass’ ecommerce platform with buy now pay later (BNPL) features under the brand PagoLight.
Under the partnership, Compass retains full control of the feature’s risk decisioning, funding and post-sale operations, while HeidiPay provides its technology stack.


HeidiPay’s BNPL solution enables merchants in Italy and Switzerland to offer monthy instalment terms of up to 12 months and 24 months respectively, with more countries in the works.
Founded in 2021, HeidiPay claims to have onboarded 300 merchant partners to date. The funding will help scale its existing operations and access credit lines to support the requirements of large merchants.
Matteo Bozzo
“In less than four months, we were able to launch with Compass a market leading BNPL offering in Italy, and we continue to work together to bring new innovations to the market in record time,”
said Matteo Bozzo, Co-Founder and CEO of HeidiPay.
]]></description><link>https://fintechnews.eu/bnpl-startup-heidipay-gets-funding-from-mediobancas-credit-arm-compass</link><guid>2882</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>BNPL Startup HeidiPay Gets Funding From Mediobanca’s Credit Arm Compass</dc:text></item><item><title>Apple Card Partners With Goldman Sachs to Offer Savings Account Feature</title><description><![CDATA[Apple has partnered with Goldman Sachs to provide Apple Card users with a savings account where they will be able to automatically deposit their Daily Cash cashback rewards.
Apple Card users will be able to set up, manage and monitor their savings account through the Wallet app in the coming months. The account will have no fees, no minimum deposits, and no minimum balance requirements.
Users will be able to deposit funds into and withdraw from their savings account through a linked bank account or their Apple Cash balance.


Apple Card users also get cashback on purchases from select merchants such as Uber and Uber Eats, Walgreens, Nike, T-Mobile, and ExxonMobil.
Jennifer Bailey
“Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future. Savings delivers even more value to users’ favorite Apple Card benefit — Daily Cash — while offering another easy-to-use tool designed to help users lead healthier financial lives,”
said Jennifer Bailey, Vice President of Apple Pay and Apple Wallet at Apple.

]]></description><link>https://fintechnews.eu/apple-card-partners-with-goldman-sachs-to-offer-savings-account-feature</link><guid>2881</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Apple Card Partners With Goldman Sachs to Offer Savings Account Feature</dc:text></item><item><title>BNP Paribas to Acquire Currency Risk Management Company Kantox</title><description><![CDATA[French banking group BNP Paribas announced plans to acquire UK currency risk management company Kantox, building on the companies’ existing partnership which started in 2019.
Kantox’s software solution helps companies automate their entire foreign exchange workflow, including risk analysis and monitoring, trade execution and post-trade performance analysis.
The acquisition, which is subject to regulatory approval, is expected to help accelerate Kantox’s growth as BNP Paribas extends Kantox’s offering to corporate clients across the globe.


Founded in 2011, Kantox has offices in London and Barcelona, and is regulated by the Financial Conduct Authority (FCA) and the Bank of Spain.
Philippe Gelis
“We have been serving clients together since 2019 when our technology partnership started. It is the best of both worlds, the leading software company in the currency management automation category and the leading bank in Europe,”
Philippe Gelis, CEO and Co-Founder at Kantox.
Olivier Osty
“Corporate treasurers are currently navigating turbulent markets and advanced technology can help mitigate some of the challenges, easing the burden of manual tasks and allowing them to focus on their core business,”
Olivier Osty, Head of Global Markets, BNP Paribas CIB.
]]></description><link>https://fintechnews.eu/bnp-paribas-to-acquire-currency-risk-management-company-kantox</link><guid>2880</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>BNP Paribas to Acquire Currency Risk Management Company Kantox</dc:text></item><item><title>Marketplace Lending Volume in Switzerland Rose 20% in 2021</title><description><![CDATA[After timid growth in 2020, marketplace lending in Switzerland witnessed a strong upturn last year, with total volume rising 20% between 2020 and 2021.
That uptick was driven mostly by improved crowdlending loan volumes, notably in real estate and small and medium-sized enterprise (SME) lending, and growth in the market for loans to public entities and mid-sized and large corporations, a new report by the Lucerne University of Applied Sciences and Arts and the Swiss Marketplace Lending Association shows.
The total volume of new debt capital issued on online platforms in 2021 reached CHF 18.1 billion, up from CHF 15.4 billion in 2020. In the sector, the crowdlending segment witnessed the strongest growth with total volume increasing by a solid 35.5% between 2020 and 2021 (from CHF 448 million to CHF 607 million) compared to the mere 7% growth observed between 2019 and 2020.


These figures show that crowdlending regained some of its strength in 2021 after the market experienced a slowdown in 2020. This downtrend is being attributed to the COVID-19 pandemic which saw the Swiss government launch a loan program that drew SMEs towards traditional banking institutions, subsequently putting a halt to market growth in SME marketplace lending, the report says.
Evidence of this is the 40% drop in SME loan volumes recorded in 2020, which decreased from CHF 159.7 million in 2019 to just CHF 95.9 million in 2020. In 2021, the market regained colors, with volumes rising 15% to CHF 110.4 million. Despite encouraging numbers, the figures still pale in comparison to pre-COVID-19 levels (CHF 159.7 million in 2019 and CHF 134.4 million in 2018).
Besides the rebound observed in SME lending, perhaps most notably is the surge seen in the real estate lending space. Between 2020 and 2021, total real estate loan volumes grew 41% to reach CHF 418 million. The figure represents a 18-fold increase from 2017’s CHF 23.1 million. Data show that real estate crowdlending started picking up steam in 2019 and has since maintained its momentum.
In addition to crowdlending, the segment of loans and bonds for mid-sized and large corporations as well as public entities also recorded notable growth, with volumes rising 28% between 2020 and 2021 (from CHF 9.4 billion to CHF 12 billion).
Mortgage loans through online brokerages saw a more timid growth, registering a shy 6.7% increase in total loan volume.
Total Volume Swiss Marketplace Lending, 2017-2021 (in CHF million; * Estimate), Source: Marketplace Lending Report Switzerland 2022, Lucerne University of Applied Sciences and Arts/Swiss Marketplace Lending Association
Moving forward, online mortgage brokers are expected to become increasingly important in Switzerland owing to their current relatively small market share.
Compared to other European countries, platforms make up just a small share of the Swiss mortgage lending market (about 5% of yearly sales), according to consultancy firm Deloitte. This suggests enormous growth potential. In comparison, the use of platforms makes up about 45% of yearly sales in Germany, a proportion that stands at around 65% in France and the Netherlands, and at a whopping 75% in the UK.
The study identifies 12 different marketplace lending platforms for mortgages in Switzerland. MoneyPark, which was launched in 2012 and offers both online mortgages and face-to-face advice in branches, is currently Switzerland’s most established mortgage brokerage firm, the report says. Other notable ones include the Atrium platform by UBS, Valuu by PostFinance, as well as independent players like HypoPlus and Hypotheke.
Another emerging trend to look out for is the rise of sustainability, the report says, an increasingly important consideration in the debt market.
In Switzerland, the first initiatives have already been launched. In the mortgage sector, UBS introduced its so-called “green mortgage” offering on Atrium last year, providing borrowers with an interest rate discount if they meet specified environmental criteria. In SME lending, some platforms have integrated sustainability into their risk models, the report notes.
Moving forward, new, innovative sustainable lending products are expected to continue emerging, it predicts, and platforms will continue to integrate sustainability risk into the risk assessment.
Environmental, social and governance (ESG) investing is a fast growing market in Switzerland as investors increasingly look for long term value and alignment with their values. In 2021, the volume of sustainable investments in Switzerland increased by almost a third, reaching an all-time high of CHF 1.98 trillion, according to a study by industry trade group Swiss Sustainable Finance (SSF).
Development of sustainable investments in Switzerland (in CHF billion), Source: Swiss Sustainable Finance, 2022

Featured image credit: Freepik and Unsplash
]]></description><link>https://fintechnews.eu/marketplace-lending-volume-in-switzerland-rose-20-in-2021</link><guid>2879</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Marketplace Lending Volume in Switzerland Rose 20% in 2021</dc:text></item><item><title>LPB Bank: The Fintech Industry in Latvia Has Great Potential but Requires Decisive Action</title><description><![CDATA[The Fintech industry in Latvia has enormous opportunities lying ahead – this was one of the insights at a recent forum held by the Financial and Capital Markets Commission (FCMC) and the Investment and Development Agency of Latvia (LIAA), with LPB Bank as one of the participants.  Staņislavs Siņakovičs, Head of Sales and Regional Development Department at LPB Bank, offers his comments.
Staņislavs Siņakovičs
“We are happy that our regulator teamed up with the LIAA to hold an event like this – it is a positive signal for the market and potential investors still considering entry and licensing in Latvia, and is especially useful for businesses that lack information about the progress our country has been making. Fintech development will remain a priority in the coming years; participants of the forum have mentioned their plans for next year to implement cryptocurrency licensing – a major topic of discussion throughout the world,”
Siņakovičs noted.
Many companies shared their experiences at the forum, and discussions revolved around several burning questions in the field: what Latvia has accomplished in FinTech so far and where it should focus its efforts next; the role of the state, regulation and financing origination in the development of FinTech; innovative technology in the financial industry, and a variety of other essential topics. Many acknowledged the significant potential and advantages that Latvia has for FinTech development.


A gathering of recognised European players and startups
The first FinTech forum brought together multiple industry leaders and up-and-comers. A number of them were companies with ties to Latvia and headquartered throughout Europe (including the United Kingdom, Estonia and Lithuania) that have accumulated considerable experience in the field.
“We hope that this trend, coupled with the active involvement of the FCMC’s Financial Innovation Department, will encourage entrepreneurs to consider our country more closely,”
Siņakovičs added.
“The entrepreneurs gathered at the FinTech event expressed a lot of interest in regulating Markets in Crypto-Assets (MiCA). Participants admitted that supervision and licensing of players in the crypto market are necessary, and a number of states already have these in place. As of yet, Latvia does not, but bringing greater organisation to the market is necessary for developing the FinTech industry – including cryptocurrency exchange points, exchanges, and market participants. Now is a good time for Latvian FinTech regulators to consider the experiences of other countries so far. As we do this, we should not miss the opportunity to foster a competitive market instead of instituting excessive restrictions. Everyone needs to understand what participation in this market entails clearly. Then, every player can feel secure, and the attitude of business to the industry will be different. Currently, the level of risk remains high, and precise knowledge is necessary for risk management and effective cooperation with crypto assets companies. We hope and expect that Latvia will introduce crypto assets regulations in the nearest future,”
commented Siņakovičs on the developments ahead.
Investments in FinTech exceed USD 132 billion
“With FinTech on the rise globally, the amount of investment in the industry was over 132 billion U.S. dollars in 2021, according to “CBS Insights”,”
Siņakovičs stressed that the analytics company has published data on the 250 most promising companies in the field.
“The top 250 FinTech startups and well-funded unicorns [breakthrough successes] have attracted around 74 billion dollars worldwide since 2016, across nearly 1200 financing deals.”
“Latvian specialists have also been gaining experience, and LPB Bank has asserted for a long time that this is a high-priority field in financial markets, investing considerable resources and technologies in the development of new services, as well as in the acquisition and dissemination of knowledge,”
Siņakovičs observed.
“With each event like this that takes place, both the country and the private sector stand to benefit – through information exchange as well as capital origination. We are open to participation and happy to present our experiences at forums held by the LIAA and the FKTK, as well as other industry events. Internationally, Latvian FinTech capabilities are not widely known, although we feel the support from the state through holding such events. Likewise, the competition within Latvia is also increasing. LPB Bank currently has a leadership position.
Informing the industry is one of our main objectives. We recently participated in Money20/20 in Amsterdam – the most prominent finance industry event in Europe – and drew the interest of government bodies in joint participation in the future,”
Siņakovičs said.
Representatives of LPB Bank at this pan-European forum saw that the regulatory institutions take similar approaches in Estonia and Lithuania with their respective industry players.
“This would be both engaging and very useful – supervisory bodies and the LIAA could inform European companies about the types of licenses and pathways to securing them, accomplishments in Latvia so far and plans for the foreseeable future,”
Siņakovičs added.
Many FinTech services in development and testing
“Talking about trends, I would like to point out that some of the services I am talking about are at the development, testing and planning stages. Some of them are already available as part of our pilot projects,” Siņakovičs explained.
LPB Bank focuses on crowdfunding, Open Banking, and virtual IBAN – a way for a financial institution to generate virtual IBANs for its clients as unique payment details for their incoming and outgoing transfers.
“A virtual IBAN is a sub-account within a current bank account. The difference is that a virtual IBAN points to a different physical account. A vIBAN may be linked to a single account, which is useful for subdividing cash flows. Virtual IBANs will be helpful for companies that receive payments for various services and require additional details (e.g., agreement number, month etc.). It is used with trading platforms, crowdfunding platforms, and cryptocurrency traders with large customer bases, enabling them to quickly and easily group dissimilar transfers, compared to holding a single account with one account number for all incoming payments. We are currently testing this service and its attractiveness to various fields,”
Siņakovičs said about new developments at the bank.
LPB Bank is researching industry needs and challenges
“With the fast pace of development in FinTech services, the bank needs to understand what is required in this sector by its participants; the bank needs to know their objectives and challenges. Clients are looking for a so-called “support bank” that they can trust to safeguard their and customers’ funds on secure, segregated accounts. The Open Banking payments initiation functionality with access to SEPA instant payments is very similar to acquiring service for payment cards. Many merchants already support it as a payment method. Online shops in Latvia and abroad accept card and bank transfer payments and offer ready-made payment orders for clients’ banks, allowing confirmation via Smart-ID or another means of client authentication. We are considering this service at the moment,”
Siņakovičs says about current plans.
Despite a wide variety of offerings in the financial services sector, a few financial institutions provide one-stop support in a Banking as a Service (BaaS) format. With LPB Bank, a FinTech company can connect to European payment systems for regular SEPA, SEPA Instant and TARGET transfers. Integration costs are significantly reduced for clients who choose LPB Bank, and infrastructure maintenance requires fewer human resources and capital expenditures.
On the other hand, companies that choose multiple service providers incur more significant financial and labour overhead for reviewing commercial solutions, coordination, testing, implementation and support. In most cases, technical integration takes more IT resources and time – for both the vendor and the client.
Find out more about FinTech solutions: https://lpb.lv/en/banking-as-a-service-fintech/
]]></description><link>https://fintechnews.eu/lpb-bank-the-fintech-industry-in-latvia-has-great-potential-but-requires-decisive-action</link><guid>2878</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>LPB Bank: The Fintech Industry in Latvia Has Great Potential but Requires Decisive Action</dc:text></item><item><title>SDX Web3 Goes Live With Its Institutional Custody Service for Crypto Assets</title><description><![CDATA[SDX Web3, the newly launched business unit from SIX Digital Exchange, is now live with its institutional custody service for crypto assets.
The SDX Web3 Custody service includes key storage, transfer execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
The service will initially comprise only BTC and ETH, with other protocols and crypto tokens such as stablecoins, asset and DEFI tokens to be added based on client demand.


SDX Web3, which is part of financial infrastructure company SIX group, previously launched a non-custodial Ethereum staking service for institutional clients in September.
Stephan Kunz
“We are excited to offer institutions a second market infrastructure grade service after launching non-custodial staking earlier this year. Having laid the foundation, we can now further build out our service offering in the coming months,”
said Stephan Kunz, Head of SDX Web3.
]]></description><link>https://fintechnews.eu/sdx-web3-goes-live-with-its-institutional-custody-service-for-crypto-assets</link><guid>2877</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>SDX Web3 Goes Live With Its Institutional Custody Service for Crypto Assets</dc:text></item><item><title>Crypto.com to Invest €150 Million to Establish Paris as Its European Headquarters</title><description><![CDATA[Crypto.com announced plans to invest €150 million in France to support the establishment of its market operations and regional headquarters in Paris.
The announcement comes shortly after the cryptocurrency platform was cleared to operate in France as a Digital Asset Service Provider (DASP) in September 2022.
Crypto.com says that the new investment will help anchor its long-term commitment to France through the hiring of local talent, especially in compliance, business development, and product.


Additional support will also be put towards initiatives to advance the cryptocurrency platform’s in-market brand presence through consumer activations, engagement, and education.
Crypto.com’s global headquarters is currently located in Singapore and the platform is said to have more than 50 million users worldwide.
Eric Anziani
“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris,”
said Eric Anziani, COO of Crypto.com.
]]></description><link>https://fintechnews.eu/cryptocom-to-invest-150-million-to-establish-paris-as-its-european-headquarters</link><guid>2876</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/HK-Fintech-Week-2022.png?x30842&amp;amp;x30842</dc:content ><dc:text>Crypto.com to Invest €150 Million to Establish Paris as Its European Headquarters</dc:text></item><item><title>The Future of Insurance Europe 2022 Takes Off Next Week in Amsterdam, Physically</title><description><![CDATA[Reuters Events will be hosting their event The Future of Insurance Europe 2022 in Amsterdam from 18th-19th October 2022. The fully-in person event will connect more than 40 Insurance professionals and 350+ industry representatives to investigate how the sector can continue to deliver value through uncertainty.
Featured speakers at the event include Alison Martin, Zurich’s CEO (EMEA), Amélie Breitburd, Lloyd’s Europe’s CEO, and Fabian Rupprecht, NN Group’s CEO (International Insurance). Other speakers also include senior leadership members from Helvetia, Aegon, Aon, Hannover Re among many other industry leaders.
Featured speakers at the Future of Insurance Europe 2022

Also known as ‘the one go-to insurance event in Europe’, the event spans across two days, comprising topics which are designed to help future-proof the insurance industry after what can best be described as a tumultuous few years. It will address the rapidly changing economic environment, as well as an urgent need for digital transformation and an unprecedented HR crisis.
The event agenda will focus on four key themes:
Technology &amp; DataNavigate the technology battlefield, unleash the robust power of data, and overcome barriers to change adoption to become a technology and data fueled organization.
Customer &amp; ProductMeet customers where they want to be met, gain customer trust, and make the next steps in journey and product transformation to revolutionise your relationship with those you are aiming to protect.
Strategy &amp; InnovationStay one step ahead of the future by fostering a culture of innovation and investing in long term strategy that prioritises digital agility.
Culture &amp; FutureWith talent thin on the ground and post-pandemic employee expectations higher than ever, optimise your value proposition by becoming a modern, digital-first insurer.

Nuriya Powell
“We’re committed to providing a platform to collectively overcome challenges created by global economic uncertainty, growing environmental and social responsibilities, and a customer base that keeps demanding more,”
said Nuriya Powell, organizer of this year’s event.


It is still not too late to participate in the discussions revolving developments of the insurance industry. To learn more about The Future of Insurance Europe 2022 and to register as a participant, visit their website.



]]></description><link>https://fintechnews.eu/the-future-of-insurance-europe-2022-takes-off-next-week-in-amsterdam-physically</link><guid>2875</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/Screenshot-2022-10-13-at-12.58.15-PM-1024x786.png?x30842</dc:content ><dc:text>The Future of Insurance Europe 2022 Takes Off Next Week in Amsterdam, Physically</dc:text></item><item><title>EU Passes Uniform Legal Framework for Crypto-Assets Across the Bloc</title><description><![CDATA[The European Union’s (EU) Economic and Monetary Affairs Committee voted 28 to 1 in favour of the Markets in Crypto Assets regulation (MiCA), a uniform legal framework for crypto-assets in the EU.
Under the MiCA, entities issuing and trading crypto-assets will be subject to transparency, disclosure, authorisation and transaction rules to ensure consumer protection.
The framework will also regulate public offers of crypto-assets and crypto-assets not covered by existing financial services legislation, though NFTs offered to the public at a fixed price will be exempted.


Crypto-assets service providers (CASPs) will be required to disclose their energy consumption, and a public register for non-compliant CASPs providing services in the EU without authorisation will be set up.
According to CoinDesk, the MiCA will enable CASPs such as crypto wallet providers to market themselves across the EU if they meet the necessary requirements.
The text of the MiCA was first finalised in mid-2022 and is expected to enter into force in 2024.
Stefan Berger
“MiCA is a European success. We are the first continent to have a crypto-asset regulation. In the Wild West of the crypto-world, MiCA will be a global standard setter,”
said Stefan Berger, Member of the European Parliament.
]]></description><link>https://fintechnews.eu/eu-passes-uniform-legal-framework-for-crypto-assets-across-the-bloc</link><guid>2872</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>EU Passes Uniform Legal Framework for Crypto-Assets Across the Bloc</dc:text></item><item><title>Alpian Launches Its Private Banking App for the Mass Affluent</title><description><![CDATA[Digital private bank Alpian has launched its mobile-first digital service which combines everyday and private banking services for the mass affluent client segment.
The service aims to differentiate itself by providing clients access to personalised wealth services that are conventionally only available to clients of traditional private banks — at a 0.75% management fee.
Alpian also provides clients with everyday banking services such as the ability to execute payments, conduct foreign exchange, withdraw cash, and make purchases with its metal Visa debit card.


Founded in 2019, Alpian closed a CHF19 million Series B from Italian bank Fideuram-Intesa Sanpaolo Private Banking and was granted a banking license by FINMA in April 2022.
Schuyler Weiss
“The launch of Alpian, Switzerland’s first digital private bank, marks a step forward for the industry. This is our first important milestone on a journey of many more,”
said Schuyler Weiss, CEO of Alpian.
Pasha Bakhtiar
“Since the beginning, the team has worked relentlessly to build a robust Swiss bank and develop a digital private banking experience with no parallels in the market. We are extremely grateful for the support of all our shareholders.”
said Pasha Bakhtiar, Chairman of Alpian.
]]></description><link>https://fintechnews.eu/alpian-launches-its-private-banking-app-for-the-mass-affluent</link><guid>2873</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Alpian Launches Its Private Banking App for the Mass Affluent</dc:text></item><item><title>Netcetera’s Digital Wallet and Checkout Experience Solutions Wins Juniper Awards</title><description><![CDATA[Swiss digital payments company Netcetera’s ToPay Mobile Wallet and Click to Pay solutions won the platinum and gold awards respectively at the Juniper Research’s Future Digital Awards 2022.
The ToPay Mobile Wallet is a solution for issuing, using and managing debit, credit, and prepaid cards, while the Click to Pay solution enables one-click checkout payments.
This is the second award Netcetera’s ToPay Mobile Wallet solution has won this year, with the first being Aite-Novarica Group’s Digital Wallet Impact award under the value-added services category.


Based in Zurich, Netcetera offers white-label and modular solutions created according to customer needs and is card network independent.
The company also announced the switch to a cloud platform earlier this year and received an investment from German security technology company Giesecke+Devrient (G+D) in 2020.
Nick Maynard
“This year’s Future Digital Awards had a record number of applications and choosing the winners was more difficult than ever. Juniper recognises Netcetera as a key driver of innovation and growth, winning two awards for its future-oriented and customer-centric solutions,“
said Nick Maynard, Head of Research, Juniper Research.
Tobias Ott
“The two awards are the confirmation of Netcetera’s payment experience and knowledge and our dedication to the development of the most forward-thinking, convenient, and proven payment products,”
said Tobias Ott, Secure Digital Payments Management, Netcetera.
]]></description><link>https://fintechnews.eu/netceteras-digital-wallet-and-checkout-experience-solutions-wins-juniper-awards</link><guid>2874</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Netcetera’s Digital Wallet and Checkout Experience Solutions Wins Juniper Awards</dc:text></item><item><title>Deutsche Börse’s D7 Platform Performs Its First Digital Securities Issuances</title><description><![CDATA[Deutsche Börse’s digital post-trade platform D7, facilitated by service provider Clearstream’s infrastructure, has executed the first digital securities issuance in Germany.
The first automated issuances on the D7 platform were performed by universal bank LBBW and asset management group Vontobel.
Historically, German securities had to be issued as paper-based global notes up until last year when regulators passed the electronic securities act to allow dematerialised issuance.


This paved the way for automation in the securities lifecycle and the creation of digital instruments to allow for straight-through processing and asset servicing.
Since December 2021, Deutsche Börse has been processing dematerialised securities via a central register, the first live D7 component.
The platform aims to provide a fully digital alternative to conventional issuance for around 80% of German securities, including warrants and certificates, with further asset classes and jurisdictions planned in the future.
Jan Krüger
“With the first pilot issue of an LBBW bonus certificate via the D7 platform, accompanied by Clearstream, we are taking the next technologically important step towards end-to-end digitalisation,”
said Jan Krüger, Head of Equity Markets at LBBW.
Markus Schenk
“The launch of the Digital Instrument represents a milestone on the way to a fully digital market infrastructure in Germany. We at Vontobel are proud to accompany the project from the very beginning and to provide valuable input,”
said Markus Schenk, Head Issuance Europe, Vontobel.
]]></description><link>https://fintechnews.eu/deutsche-borses-d7-platform-performs-its-first-digital-securities-issuances</link><guid>2871</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Deutsche Börse’s D7 Platform Performs Its First Digital Securities Issuances</dc:text></item><item><title>Worldline Selected as Global Payments Provider to the Lufthansa Group</title><description><![CDATA[French payments company Worldline has been selected as a payments provider to the Lufthansa Group, the aviation group which operates Germany’s flag carrier.
The partnership will give the Lufthansa Group the possibility to onboard a selection of Worldline solutions, from payment methods to consolidated reporting capabilities and integration with their core platforms.
Worldline will process globally for Lufthansa and its sister operations, SWISS, Austrian Airlines and Edelweiss, ensuring that the group can take advantage of travel and airline-specific services such as Billing and Settlement Plans (BSP) and Accounts Receivable Conversion (ARC).


The Lufthansa Group will also make use of Worldline’s unique TravelHub solution, a single scalable connection providing access to over 150 payment methods and currencies, multi-acquiring, tokenisation and a range of fraud services all through a single reporting and settlement channel.
Damien Cramer
“When seeking a new payment service provider, the Lufthansa Group had several critical requirements and objectives. We are delighted that they have put their trust in Worldline to help them deliver the success they are targeting,”
said Damien Cramer, Global Head of Travel &amp; Airlines, Digital Commerce at Worldline.
Kai Schilb
“We were looking for a global partner that could offer a strong payments layer to drive innovation, growth and most importantly increase our conversion rates; Worldline’s TravelHub makes this possible for our entire group,”
said Kai Schilb, Head of Payments, the Lufthansa Group.
]]></description><link>https://fintechnews.eu/worldline-selected-as-global-payments-provider-to-the-lufthansa-group</link><guid>2869</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Worldline Selected as Global Payments Provider to the Lufthansa Group</dc:text></item><item><title>French Social Trading App Shares Backed by Serena and Venus Williams</title><description><![CDATA[Paris-based social trading app Shares has brought on tennis legends Venus and Serena Williams as investors and its first ambassadors.
The news follows the company’s US$40 million Series B round in July led by Peter Thiel’s Valar Ventures.
Shares combines the features of an investment platform with those of a social media app to create a product that is said to resonate strongly with Gen Z users — 66% of the app’s users are under the age of 25. Also higher than the industry average, over a third of its users are women.


The app has garnered over 150,000 users since launching in the UK in May, coming in second in the ‘finance’ category on the App Store and becoming the sixth most downloaded app in the UK.
Serena Williams has been actively investing in early stage startups through her venture capital firm Serena Ventures which recently led Ugandan digital lending startup Numida’s funding round.
Serena Williams
“Gen Z have a curious way of looking at the world and through the amplification of social media, have been much more open about educating themselves and sharing that information. I believe everyone, and especially women, should have the tools and access to information to take control of their finances,”
said Serena Williams.
Benjamin Chemla
“Our primary goal is to bring people together to make finance accessible while always offering the best product to our users. We’re confident that Venus and Serena will add a dynamic energy to Shares that will drive and inspire us to imagine and build the best offering within the industry,”
said Benjamin Chemla, Co-Founder and CEO of Shares.
]]></description><link>https://fintechnews.eu/french-social-trading-app-shares-backed-by-serena-and-venus-williams</link><guid>2870</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>French Social Trading App Shares Backed by Serena and Venus Williams</dc:text></item><item><title>Railsr Raises US$46M Series C to Grow Its Embedded Finance Platform</title><description><![CDATA[London-based embedded finance platform Railsr, formerly known as Railsbank, has closed a US$46 million Series C led by Anthos Capital.
The round comprised US$26 million equity, as well as US$20 million debt from Mars Capital. Existing investors Ventura, Outrun Ventures, CreditEase and Moneta participated in the equity round.
Railsr claims to have over 300 customers including HelloCash, Sodexo and Payine. It recently appointed Rick Haythornthwaite as its inaugural chairman of the board and Will Carling OBE as an advisor.


The company’s milestones for the year so far include the launch of its rewards solutions and SEPA Instant implementation, with plans to launch a new insights solution later in the year.
Nigel Verdon
“I am absolutely delighted that less than four months after Railsbank evolved to become Railsr, we have achieved another milestone and closed our Series C, a significant step on our route to profitability,”
said Nigel Verdon, CEO and Co-Founder, Railsr.
Mike Galvin
“The Railsr partnership has allowed Toqio to deliver cost effective financial services solutions to the market and has been one of the key enablers of our growth,”
said Mike Galvin, Co-Founder and Chief Commercial Officer of Railsr partner Toqio.
]]></description><link>https://fintechnews.eu/railsr-raises-us46m-series-c-to-grow-its-embedded-finance-platform</link><guid>2868</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Railsr Raises US$46M Series C to Grow Its Embedded Finance Platform</dc:text></item><item><title>The Top 33 Fintech Startups in Europe on LinkedIn in 2022</title><description><![CDATA[33 fintech companies made LinkedIn’s second annual top startups list, a ranking of companies from 13 European countries that it says is gaining attention.
The ranking was produced using LinkedIn data in four areas: employee growth, jobseeker interest, employee engagement, and their ability to attract talent from other top companies.
France topped the rankings with six fintech companies represented, followed by Switzerland and Italy with four fintech companies each. There were no fintech companies on Sweden’s list this year.


Denmark’s Pleo, France’s Swile, Ireland’s Wayflyer, Portugal’s Coverflex, Switzerland’s Sygnum Bank, and the UK’s Monzo ranked first in their respective countries.
Meet the top 33 fintech startups in Europe on LinkedIn:

Credi2 (Austria)

Credi2 specialises in embedded finance solutions for ‘buy now, pay later’ and subscriptions. Founded in 2015, its clients include Volkswagen Bank, Raiffeisen Bank International and Apple.

Ready2order (Austria)

Ready2order provides modular POS and payment solutions for small and medium-sized businesses in Germany and Austria that works on any end device including smartphones and tablets.

Fiskaly (Austria)

fiskaly offers cloud-based solutions for all aspects of the receipt. Its infrastructure focuses on localisation and compliance with country-specific laws, and is designed to work without any additional hardware.

Qover (Belgium)

Qover builds embedded insurance products using open APIs. Founded in 2016 and headquartered in Brussels, the company’s digital insurance offering is active in 32 countries in Europe.

Pleo (Denmark)

Pleo is a business expense platform that provides physical and virtual company cards, as well as invoice and expense management solutions. The company raised US$350 million last year at a US$4.7 billion valuation.

Swile (France)

Swile develops business expense and employee benefits solutions that include an employee card and an employee engagement app. The company last raised US$200 million from Softbank in October 2021.

Qonto (France)

Qonto is a business finance solution for SMEs and freelancers with banking, bookkeeping and payment features. The company raised €486 million in Series D funding in January 2022 at a €4.4 billion valuation.

Payfit (France)

PayFit is a payroll management and HR software for companies with up to 500 employees. The company last raised €254 million in Series E funding in January 2022 at a €1.82 billion valuation.

Silvr (France)

Silvr is an alternative financing platform for digital entrepreneurs. The company claims to be able to process applications in less than 24 hours and borrowers can make repayments based on their revenue.

Masteos (France)

Masteos is a property investment management startup that helps users find, buy, renovate, furnish and rent properties on its app. Founded in 2019, the company last raised €40 million in June 2022.

Beanstock (France)

Beanstock is a marketplace to invest in and manage buy-to-let properties. Founded in 2020, the company raised a €12 million Series A in April 2022.

Moss (Germany)

Moss is an expense and financial management solution with corporate credit cards, invoice management, and automated accounting features. The company last raised US$149 million in January 2022.

Hive (Germany)

Hive offers e-commerce companies cloud-based software to manage their inventory, orders and returns. The platform also integrates with shop platforms, marketplaces, and ERPs to automate order fulfillment.

Wayflyer (Ireland)

Wayflyer helps e-commerce companies access working capital, improve cash flow and drive sales using financing and analytic solutions. Founded in 2019, the startup became Ireland’s sixth unicorn in February 2022.

Tegus (Ireland)

Tegus provides a platform for institutional investors and companies to gain industry insights and competitive intelligence. Founded in 2017, the company last raised a €92 million funding round at the end of 2021.

Banca AideXa (Italy)

AideXa is a SME financing platform offering loans and investment-related services to small businesses and Italian VAT numbers. The company was founded in 2020 and has raised €45 million in seed funding.

Starting Finance (Italy)

Starting Finance is a financial literacy company for millennials with a stock market simulator app. Founded in 2018, the company is said to have over 500,000 users.

Scalapay (Italy)

Scalapay is a buy now pay later (BNPL) which allows users to pay in three monthly installments. Founded in 2019, the company has raised US$727 million to date, including a US$155 million Series A in 2021.

Casavo (Italy)

Casavo is a real estate marketplace that connects home buyers, sellers, and real estate operators such as brokers, banks and renovation companies. The company raised US$410 million in funding in July 2022.

Bitvavo (Netherlands)

Bitvavo is cryptocurrency trading platform. Founded in 2018, the platform allows users to buy, sell and store over 175 digital assets and claims to process €10 billion worth of transactions every month.

Fourthline (Netherlands)

Fourthline offers an end-to-end know your customer (KYC) and anti-money laundering (AML) compliance solution to regulated institutions like banks, fintechs, and brokers.

Coverflex (Portugal)

Coverflex is a compensation management platform for employees that integrates all components of compensation including benefits, meal allowance, insurance, and discounts.

CASAFARI (Portugal)

CASAFARI is a real estate data platform which claims to index, aggregate, and analyse 250 million listings from 30,000 sources. Founded in 2018, the company last raised a US$15 million Series A in 2021.

Sensei (Portugal)

Sensei provides retail cashierless checkout solutions to enable shoppers to be automatically charged upon leaving the store. Founded in 2017, the company raised US$6.5 million in seed funding in 2021.

Cobee (Spain)

Cobee develops flexible remuneration platform that automates and simplifies employee benefits management. Founded in 2019, the company last raised a €14 million Series A in 2021.

Sygnum Bank (Switzerland)

Sygnum is a digital asset specialist with a Swiss banking licence and a Singapore capital markets services license. Founded in 2017, the group last raised US$90 million at a US$800 million valuation in early 2022.

Monzo (UK)

Monzo is a digital bank for individuals and businesses. The company recently launched a buy now pay later (BNPL) service and raised a US$500 million Series H at a US$4.5 billion valuation in 2021.

Primer (UK)

Primer is a no-code automation platform for payments and commerce that enables merchants to streamline their payment flows. Founded in 2020, the company raised a US$50 million round in 2021.

See the top fintech startups in the Middle East on LinkedIn here.
]]></description><link>https://fintechnews.eu/the-top-33-fintech-startups-in-europe-on-linkedin-in-2022</link><guid>2867</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>The Top 33 Fintech Startups in Europe on LinkedIn in 2022</dc:text></item><item><title>SWIFT and Capgemini Successfully Interlink CBDCs for Cross-Border Payments</title><description><![CDATA[SWIFT and Capgemini have achieved CBDC-to-CBDC transactions between different distributed ledger technology networks based on Quorum and Corda technologies, as well as fiat-to-CBDC flows between these networks and a real-time gross settlement system.
The experiment showed that the blockchain networks could be interlinked for cross-border payments through a single gateway, and that SWIFT’s new transaction management capabilities could orchestrate all inter-network communication.
Results of SWIFT experiments interlinking CBDC networks and existing payments systems to achieve global interoperability. Source: SWIFT and Capgemini’s “Connecting digital islands: CBDCs” report (October 2022)
14 central and commercial banks, including Banque de France, Deutsche Bundesbank, HSBC, Intesa Sanpaolo, NatWest, SMBC, Standard Chartered, UBS and Wells Fargo, are now collaborating in a testing environment to accelerate the path to full scale deployment.


In a separate experiment with a different group of participants, SWIFT similarly demonstrated that its infrastructure can serve as an interconnector between multiple tokenisation platforms and different types of cash payment.
Use case: DvP transactions via two tokenisation platforms. Source: SWIFT’s “Connecting digital islands: Tokenised assets” report (October 2022)
Working in collaboration with Citi, Clearstream, Northern Trust, and technology partner SETL, SWIFT explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash.
It successfully served as a single access point to various tokenised networks and showed its infrastructure could be used to create, transfer and redeem tokens and update balances between multiple client wallets, as well as provide interoperability between different tokenisation platforms and existing account-based infrastructure.
Tom Zschach
“We see inclusivity and interoperability as central pillars of the financial ecosystem, and our innovation is a major step towards unlocking the potential of the digital future.

For central bank digital currencies (CBDCs), our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway, ensuring the instant and smooth flow of cross-border payments,”
said Tom Zschach, Chief Innovation Officer at SWIFT.
]]></description><link>https://fintechnews.eu/swift-and-capgemini-successfully-interlink-cbdcs-for-cross-border-payments</link><guid>2866</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/Results-of-SWIFT-experiments-interlinking-CBDC-networks-and-existing-payments-systems-to-achieve-global-interoperability-1024x465.png?x30842</dc:content ><dc:text>SWIFT and Capgemini Successfully Interlink CBDCs for Cross-Border Payments</dc:text></item><item><title>Sygnum Partners With T&amp;B Media to Raise US$300M to Fund Its Metaverse Platform</title><description><![CDATA[Sygnum, a digital asset technology group with a Swiss banking licence and a Singapore capital markets services licence, is partnering Thai media group T&amp;B Media Global to raise over US$300 million to fund its new interconnected metaverse platform.
The raise uses a unique structure hybridising equity and non-fungible tokens (NFTs) like metaverse land NFTs into a financial instrument.
T&amp;B Media Global’s new platform, Translucia, enables partners to build interconnected metaverses with real estate developer Magnolia Quality Development Corporation (MQDC) joining as first corporate partner.


MQDC will develop a metaverse within Translucia consisting of a virtual city that connects digital buildings with its real-world property projects and experiences.
Meanwhile, Sygnum will provide T&amp;B Media Global an end-to-end corporate finance solution called Strategic Digital Assets Solutions.
It includes advising and setting up of the hybrid equity-NFT structure, developing metaverse token economic models and providing institutional-grade custody for traditional securities and tokens.
Sygnum will also lead the fundraise by managing Translucia’s roadshow as well as provide professional investors and strategic partners access to the platform and investment opportunities.
Gerald Goh
“We are excited to partner T&amp;B Media Global to accelerate the growth of their metaverse universe, and to bring to market a new way for raising capital in a fully-regulatory compliant manner.”
said Gerald Goh, Sygnum Co-Founder and CEO Singapore.
Dr Jwanwat Ahriyavraromp
“A good company extends beyond just good products and financials – it includes the driven, nurturing hearts of its people working together to build something amazing. From the moment I met the Sygnum team, I knew they were a perfect fit and would be excellent stewards of our equity-NFT fund raise.”
said Dr Jwanwat Ahriyavraromp, Founder and CEO of T&amp;B Media Global and Translucia.
This article first appeared on Fintech News Singapore.
]]></description><link>https://fintechnews.eu/sygnum-partners-with-tb-media-to-raise-us300m-to-fund-its-metaverse-platform</link><guid>2864</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Sygnum Partners With T&amp;B Media to Raise US$300M to Fund Its Metaverse Platform</dc:text></item><item><title>Luxury Goods Retailer Bucherer Acquires Digital Authentication Startup Adresta</title><description><![CDATA[Swiss digital authentication startup Adresta has been acquired by Bucherer Group, one of the world’s largest luxury watch and jewellery retailers, effective 30 September 2022.
A spin-off from Helvetia Insurance, Adresta develops blockchain-based digital certificates for luxury goods. Users can then access said certificates at any time on the Adresta website and app.
This enables, among other things, forgery-proof proof of ownership and authenticity especially for buyers of pre-owned watches.


Adresta will be fully integrated into the Bucherer Group immediately, with its technology expected to complement Bucherer’s existing “certified pre-owned” service which was launched in 2019 as well as bolster the retailer’s online shopping experience.
Guido Zumbühl
“We are taking a few big steps forward in implementing our digital strategy with the integration of Adresta to offer our customers a comprehensive shopping experience. We look forward to integrating this innovative company into the Bucherer Group,”
said Guido Zumbühl, CEO, Bucherer Group.
Mathew Chittazhathu
“Our platform solution not only offers easy access to blockchain-based certificates but is the basis for a continuously expandable ecosystem. We have found the ideal partner in Bucherer for us to develop our solution further and establish it optimally on the market for the benefit of customers,”
said Mathew Chittazhathu, Co-Founder and CEO, Adresta.
]]></description><link>https://fintechnews.eu/luxury-goods-retailer-bucherer-acquires-digital-authentication-startup-adresta</link><guid>2865</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Luxury Goods Retailer Bucherer Acquires Digital Authentication Startup Adresta</dc:text></item><item><title>Swiss Professionals Show Reticence to Share Data Despite Seeing Opportunities in Open Banking</title><description><![CDATA[In Switzerland, the finance and banking industry believes open banking offers considerable opportunities across all major use cases. But despite the realization that the sector is moving towards greater openness and connectivity, there is a clear discrepancy regarding the practical implementation of open banking and resistance to share data with third parties.
These are some of the findings of a new survey conducted by the OpenBankingProject.ch, a cross-organizational network and industry trade group focusing on driving the development of open banking in Switzerland.
The study, which polled more than 170 respondents from various industries, found that around 60% of respondents are confident that open banking will become part of everyday processes, from consumption, health and mobility, to living and entertainments, in the next five to six years.


An overwhelming majority of respondents believe opportunities exist in all major use cases: 89% of respondents said data sharing will have a high or very high impact on payments, a figure that stands at 79% for investment, 66% for provisions, and 64% for financing. Overall, 83% said they believed open banking will bring opportunities across their entire business.
Which open banking use cases have the most potential? Source: Openbankingproject.ch, Sep 2022
All target groups showed a high to very high assessment of the potential of open banking, though board and management members of technology providers ranked the highest.
In the banking sector, survey participants said they expected open banking to expand their organization’s range of services and increase customer satisfaction.
Networking with other companies and the establishment of a clear open banking strategy were identified as prerequisites and success factors for the implementation of open banking. Respondents also said concrete use cases and experiments in the form of proofs of concept were needed to better understand the concept and implement it in a meaningful way.
Most companies indicated being ready to open up their data without major restrictions, striving to take on the roles of “early followers” and “first movers.” The banking sector, however, showed more cautiousness, with most indicating pursuing a strategy of selective and opportunities opening. In this industry, only 6% of respondents viewed their organization as “first movers” and most providers showed reluctance to pass on their customer data to third parties.
The need for a regulatory framework
When asked what they believed were the conditions for a successful implementation of open banking in Switzerland, respondents named API standardization as a critical success factor that would allow for efficient implementation, investment protection as well as ensuring the scalability of open banking use cases.
Against this backdrop, most survey participants indicated the need for regulation, believing that policymakers should analyze what other jurisdictions have done on the regulatory front and base their rules on the results observed in these markets. Survey participants also believe that industry participants should play an active role in designing the regulatory framework for open banking and be consulted.
Unlike jurisdictions like the European Union (EU) and the UK, Switzerland has approached open banking in an industry-driven manner, expecting that the market would eventually regulate itself through its competitive and collaborative forces.
The lack of regulatory mandates has ultimately made the standardization of processes and connectivity protocols more challenging, but has also encouraged Swiss market actors to join forces to develop industry standards.
Prominent standardization initiatives in Switzerland include Common API, a working group of Swiss Fintech Innovations that aims to provide API standards for use cases covering the banking and insurance industries; Swiss NextGen API, a set of APIs based on the EU’s PSD2 standards developed by OpenBankingProject.ch; and OpenWealth API, an initiative led by the OpenWealth Association focusing on wealth management-related services.
Findings from the OpenBankingProject.ch survey are consistent with results of other studies conducted on the subject. A 2021 study carried out by Mastercard showed that open banking can no longer be viewed as an “optional luxury that financial institutions can consider” but has instead become “an inevitability.”
The survey, which polled more than 1,000 Swiss consumers, found that although awareness of open banking was still low, consumers shared high interest in the concept. In fact, 49% of respondents said they were willingness to change their primary bank or add a new banking relationship to benefit from at least one open banking-enabled service.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/swiss-professionals-show-reticence-to-share-data-despite-seeing-opportunities-in-open-banking</link><guid>2863</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Swiss Professionals Show Reticence to Share Data Despite Seeing Opportunities in Open Banking</dc:text></item><item><title>SIX Digital Exchange Links to SIX SIS to Boost Digital CHF Bond Accessibility</title><description><![CDATA[SIX Digital Exchange (SDX) announced the addition of SIX SIS to its Central Securities Depository (CSD), making it the first regulated CSD to have direct access to SDX.
The addition is expected to increase the accessibility of natively digital CHF-denominated bonds to the wider market and enable investors to purchase a digital bond and hold it in SIX SIS.
SDX offers issuance, listing, trading, settlement, servicing, and custody of digital securities. The platform is part of the SIX group which develops and operates infrastructure for financial institutions.


The company previously announced the launch of its new Ethereum stakings service for institutional clients in September.
David Hatton
“This new operational link between SDX CSD and SIX SIS enables digital CHF bonds natively issued on SDX CSD to be held and settled at SIX SIS.

This in turn opens future digital bond issuance to the broader CHF investor base, whilst laying the platform for a fully integrated CHF denominated digital bond market,”
said David Hatton, Head Digital Securities at SDX.
]]></description><link>https://fintechnews.eu/six-digital-exchange-links-to-six-sis-to-boost-digital-chf-bond-accessibility</link><guid>2861</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>SIX Digital Exchange Links to SIX SIS to Boost Digital CHF Bond Accessibility</dc:text></item><item><title>Swissquote Dives Into Cryptocurrency Trading With the Launch of SQX</title><description><![CDATA[Online trading platform Swissquote has launched a cryptocurrency exchange called SQX that aims to provide a more competitive and secure trading environment.
Unlike other crypto exchanges, SQX says that it prides itself on being a centralised trading platform as it believes that currency markets function on the back of long-standing bilateral relationships.
As such, Swissquote added that SQX’s new central order book, which sources and aggregates liquidity from different liquidity hubs, will allow it to source the best liquidity conditions from decentralised crypto markets — resulting in more competitive bid and ask prices.


The Bancor Network Token (BNT) will be available on SQX in the initial phase and other cryptocurrencies available at Swissquote will be added gradually. Clients will not see any changes to the front end of the Swissquote trading platform.
Marc Bürki
“The launch of our own crypto exchange is an important step forward in offering our customers deeper liquidity and faster execution. In terms of services for institutional clients, SQX also represents an increase in competitiveness when it comes to offering trading and custody services to other banks and brokers.”
said Marc Bürki, CEO of Swissquote.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/swissquote-dives-into-cryptocurrency-trading-with-the-launch-of-sqx</link><guid>2862</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Swissquote Dives Into Cryptocurrency Trading With the Launch of SQX</dc:text></item><item><title>Finax Launches the First Pan-European Pension Product for Digital Nomads</title><description><![CDATA[Bratislava-based wealthtech Finax has become the first company to receive a license to offer a pan-European Personal Pension Product (PEPP) to clients in Slovakia.
The PEPP is a portable, voluntary personal pension scheme regulated by the European Insurance and Occupational Pensions Authority (EIOPA) that is open to all European Union (EU) residents.
PEPPs are not tied to employment or place of work and clients can transfer their pension to other EU countries. The maximum fee is 1% of the assets under management per annum.


Finax, a Slovak investment management platform, became the first licensed by the EIOPA to provide this product in September 2022 after the country adopted the necessary legislation earlier in the year.
Founded in 2018, Finax also operates in the Polish, Croatian, Czech and Hungarian markets and claims to manage €350 million in assets for 40,000 clients.
Milan Krajniak
“Starting today, Slovaks are the first in Europe who can increase their pension savings through the new European pension product. We have something to be proud of – a promising Slovak company that succeeded in bringing PEPP into practice and appreciating citizens’ money in a safe way,”
said Milan Krajniak, Minister of Labour, Social Affairs and Family of the Slovak Republic.
Juraj Hrbatý
“We seek to offer PEPP primarily to multinational companies and young people with job mobility across the EU. Thanks to the associated tax and levy incentives, PEPP will become our key product in several countries, also helping us to settle in new markets”,
said Juraj Hrbatý, CEO of Finax.
]]></description><link>https://fintechnews.eu/finax-launches-the-first-pan-european-pension-product-for-digital-nomads</link><guid>2859</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Finax Launches the First Pan-European Pension Product for Digital Nomads</dc:text></item><item><title>University of Zurich and ETH Zurich Among World’s Best Universities for Blockchain Education</title><description><![CDATA[The University of Zurich and ETH Zurich ranked third and 27th respectively on CoinDesk’s latest annual best universities for blockchain rankings.
The rankings were made from a shortlist of 240 institutions around the world, calculated based on their scholarly, industrial and pedagogical impact on blockchain.
The top 50 universities for blockchain education and research in the world. Source: CoinDesk Best Universities for Blockchain 2022
Metrics that were taken into account included the institutions’ blockchain research publications, courses, degrees, conferences, clubs and industry partnerships or grants.


The rankings also took into account the institutions’ reputations, where their graduates get jobs, and other measurements from publicly available sources.
The University of Zurich moved up the rankings this year from fourth to third place, while ETH Zurich dropped from 10th place to 27th place.
The École Polytechnique Fédérale de Lausanne (EPFL), which ranked 21st on last year’s rankings, did not make this year’s top 50 list.
#3 — University of Zurich
The University of Zurich is home to the UZH Blockchain Center — Switzerland’s largest and one of the world’s most active blockchain research hubs.
Founded in 2017, the UZH Blockchain Center has 22 faculty members from a cross section of the university’s business, STEM and law departments.
The center also hosts over 40 researchers from UZH and other institutions, has published 108 blockchain-related research papers, and earned more than 550 citations.
While UZH currently offers no blockchain degree programmes, it does offer 25 blockchain and related courses, plus four certification programmes.
In April 2022, the UZH Blockchain Center and Cardano Foundation announced a partnership to advance the UZH’s educational programming and launch new research projects.
#27 — ETH Zurich
ETH Zurich or the Federal Polytechnic School is known for its blockchain-related collaborations with think tanks, peer institutions and industry.
The institution has two key initiatives: the ICE Center for computer science and engineering R&amp;D and the ETH Blockchain Initiative which engages in blockchain research.
Researchers have published 100 influential blockchain papers between 2019 and 2022, with 1,838 total citations.
ETH Zurich has also hosted blockchain conferences and partnered with the Web3 Foundation and the Concordium Foundation to promote blockchain innovation and development.
]]></description><link>https://fintechnews.eu/university-of-zurich-and-eth-zurich-among-worlds-best-universities-for-blockchain-education</link><guid>2860</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/10/CoinDesk-Best-Universities-for-Blockchain-2022-Full-List-Ranking-Chart-612x1024.png?x30842</dc:content ><dc:text>University of Zurich and ETH Zurich Among World’s Best Universities for Blockchain Education</dc:text></item><item><title>Oracle NetSuite Launches Accounts Payable Automation With HSBC</title><description><![CDATA[Oracle NetSuite has launched a solution which embeds HSBC’s banking services in NetSuite’s cloud enterprise resource planning system to allow vendor payments to be made from within the platform.
The new NetSuite AP Automation solution is said to shorten accounts payable (AP) processes as it enables organisations to better control outgoing cash flow and take advantage of early payment discounts.
Eligible transactions completed with a HSBC virtual credit card also earns credit which could help further reduce operating costs and turns accounts payable from a cost centre into a revenue generator.


Evan Goldberg
“Accounts payable plays an important role in helping organisations manage cash flow, control costs, and maintain strong relationships with vendors, but all too often the process is slow, tedious, and error-prone.

By simplifying and automating the entire bill payment process – from data capture to payment and reconciliation – NetSuite AP Automation eliminates these challenges,”
said Evan Goldberg, Founder and EVP, Oracle NetSuite.
Barry O’Byrne
“Business customers increasingly want integrated, accessible solutions at their fingertips. Our embedded banking solution with NetSuite allows customers to manage payments and automate reconciliations at the point of need, without switching screens or multiple logins,”
said Barry O’Byrne, Chief Executive Officer, Global Commercial Banking at HSBC.
]]></description><link>https://fintechnews.eu/oracle-netsuite-launches-accounts-payable-automation-with-hsbc</link><guid>2858</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Oracle NetSuite Launches Accounts Payable Automation With HSBC</dc:text></item><item><title>Toqio Raises €20M Series A to Expand to Spain and Other European Markets</title><description><![CDATA[Fintech solutions development platform Toqio has closed €20 million in Series A funding led by AlbionVC, with participation from Aldea Ventures, Seaya, Speedinvest, SIX Fintech Ventures, and several angel investors.
The €20 million round includes a €1.3 million grant from the Centre for the Development of Industrial Technology (CDTI), a Spanish government agency, for the company’s expansion in Spain.
Toqio’s platform enables businesses to launch embedded finance solutions by removing the need to build and manage complex software from scratch.


Furthermore, Toqio’s marketplace allows businesses to incorporate services provided by financial service providers such as ClearBank, Currencycloud, Modulr, and Railsr into their solution.
The company has offices in London, Madrid and Nairobi, and its clients include Crealsa, Paysme, Blackstar Capital and MovePay.
The latest round also sees the addition of AlbionVC’s Jay Wilson to Toqio’s Board of Directors.
Eduardo Martinez
“After rapidly growing our team and entering the Spanish market, we’ll now be broadening our focus within Europe, including expansion into France and Germany,”
said Eduardo Martinez Garcia, CEO &amp; Co-Founder of Toqio.
Jay Wilson
“We have been incredibly impressed by Toqio’s growth to date and the exceptional quality of the SaaS business it is building,”
said Jay Wilson, Investment Director at AlbionVC.
]]></description><link>https://fintechnews.eu/toqio-raises-20m-series-a-to-expand-to-spain-and-other-european-markets</link><guid>2857</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Toqio Raises €20M Series A to Expand to Spain and Other European Markets</dc:text></item><item><title>HelloSafe erhält 3 Mio. CHF für die Entwicklung eine Schweizer Vergleichslösungen für Finanzprodukte</title><description><![CDATA[Das junge Unternehmen HelloSafe, das Vergleichslösungen von Versicherungs-, Anlage-, Spar- und Kreditprodukten für Privatpersonen und Unternehmen entwickelt, hat die erst Seed-Finanzierung von 3,07 Mio. CHF gesichert.
Die Funding Runde wurde von OneRagtime und Kima Ventures durchgeführt . Mit dieser Kapitalbeschaffung möchte HelloSafe seine Teams verstärken, die auf seinen Plattformen angebotene Nutzererfahrung weiter verbessern und sie auf neue Produkte in deutschsprachigen Kantonen erweitern.
HelloSafe, das im Jahr 2021 gegründet wurde, hat seinen Aufschwung sehr schnell erlebt. Das Unternehmen positioniert sich nämlich als führender Anbieter für den Vergleich von Finanzprodukten in der Schweiz. Das Unternehmen wile eine neue Transparenz in seinen Markt bringen, indem es den Zugang zum Vergleich von zahlreicheren Finanzprodukten wie Versicherungen, Kryptowährungsplattformen, Geldüberweisungsdienste, Kredit- und Sparlösungen und Bankangebote vereinfacht. Daher verfügt HelloSafe bereits über insgesamt 40 Vergleiche (Versicherungen, Kredite, Geldanlagen, Kryptowährungsplattformen,  Geldüberweisungsdienste, Kreditkarten…).


Die eigene Technologie von HelloSafe, die während Monaten von einem 100% engagierten Team entwickelt wurde, gewährt Besuchern einen einfachen Zugang zu Tausenden von Seiten mit Experteninhalten, Finanzsimulatoren und momentanen, kostenlosen und anonymen Vergleichen. Für jedes Produkt wählt HelloSafe die besten Akteure aus, die die niedrigsten Preise für die bestmöglichen Garantien und Kundenerfahrungen anbieten.
Pauline Laurore
«Trotz grosser Unterschiede nach den Finanzprodukten, beobachten wir mehrere Gemeinsamkeiten zwischen Nutzern von unserer Plattform in der Schweiz über Beratungs- und Vergleichsbedarf. Deshalb werden die Skalierbarkeit unserer Technologie und der Zusammenhang unserer Vision bestätigt»
erklärt die Marketingleiterin und Mitbegründerin von HelloSafe Pauline Laurore.
Eine Kapitalbeschaffung, um sich in der deutschsprachigen Schweiz zu entwickeln
Mit seinen Vergleichslösungen und einem Netzwerk von über 50 Partnern, die es Verbrauchern ermöglichen, das Beste aus ihrem Portemonnaie zu machen, hat HelloSafe  in der Schweiz bereits sein Publikum gefunden. Das Unternehmen, das 50 Mitarbeiter zählt, will seine Belegschaft durch vierzig Neueinstellungen in allen Berufen (Technik, Marketing und Vertrieb) bis Ende 2023 erweitern, um die deutschsprachige Version seiner Website zu entwickeln.
Stephanie Hospital
«HelloSafe hat ein innovatives und transparentes Wertangebot. Mit seiner eigenen Technologie hat HelloSafe den Kraftakt geschafft, die Herstellung von Vergleichstools mit einem hohen Mehrwert zu maximieren und gleichzeitig ihre Entwicklungskosten zu begrenzen. Dank der Erfahrung seiner Gründer und ihrer langfristigen Vision ist HelloSafe auch ein starkes Projekt…»
ergänz die Investorin und Gründerin von OneRagtime Stéphanie Hospital.

]]></description><link>https://fintechnews.eu/hellosafe-erhalt-3-mio-chf-fur-die-entwicklung-eine-schweizer-vergleichslosungen-fur-finanzprodukte</link><guid>2855</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>HelloSafe erhält 3 Mio. CHF für die Entwicklung eine Schweizer Vergleichslösungen für Finanzprodukte</dc:text></item><item><title>HelloSafe erhält 3 Mio. CHF für die Entwicklung eine Schweizer Vergleichslösung für Finanzprodukte</title><description><![CDATA[Das junge Unternehmen HelloSafe, das Vergleichslösungen von Versicherungs-, Anlage-, Spar- und Kreditprodukten für Privatpersonen und Unternehmen entwickelt, hat die erst Seed-Finanzierung von 3,07 Mio. CHF gesichert.
Die Funding Runde wurde von OneRagtime und Kima Ventures durchgeführt . Mit dieser Kapitalbeschaffung möchte HelloSafe seine Teams verstärken, die auf seinen Plattformen angebotene Nutzererfahrung weiter verbessern und sie auf neue Produkte in deutschsprachigen Kantonen erweitern.
HelloSafe, das im Jahr 2021 gegründet wurde, hat seinen Aufschwung sehr schnell erlebt. Das Unternehmen positioniert sich nämlich als führender Anbieter für den Vergleich von Finanzprodukten in der Schweiz. Das Unternehmen wile eine neue Transparenz in seinen Markt bringen, indem es den Zugang zum Vergleich von zahlreicheren Finanzprodukten wie Versicherungen, Kryptowährungsplattformen, Geldüberweisungsdienste, Kredit- und Sparlösungen und Bankangebote vereinfacht. Daher verfügt HelloSafe bereits über insgesamt 40 Vergleiche (Versicherungen, Kredite, Geldanlagen, Kryptowährungsplattformen,  Geldüberweisungsdienste, Kreditkarten…).


Die eigene Technologie von HelloSafe, die während Monaten von einem 100% engagierten Team entwickelt wurde, gewährt Besuchern einen einfachen Zugang zu Tausenden von Seiten mit Experteninhalten, Finanzsimulatoren und momentanen, kostenlosen und anonymen Vergleichen. Für jedes Produkt wählt HelloSafe die besten Akteure aus, die die niedrigsten Preise für die bestmöglichen Garantien und Kundenerfahrungen anbieten.
Pauline Laurore
«Trotz grosser Unterschiede nach den Finanzprodukten, beobachten wir mehrere Gemeinsamkeiten zwischen Nutzern von unserer Plattform in der Schweiz über Beratungs- und Vergleichsbedarf. Deshalb werden die Skalierbarkeit unserer Technologie und der Zusammenhang unserer Vision bestätigt»
erklärt die Marketingleiterin und Mitbegründerin von HelloSafe Pauline Laurore.
Eine Kapitalbeschaffung, um sich in der deutschsprachigen Schweiz zu entwickeln
Mit seinen Vergleichslösungen und einem Netzwerk von über 50 Partnern, die es Verbrauchern ermöglichen, das Beste aus ihrem Portemonnaie zu machen, hat HelloSafe  in der Schweiz bereits sein Publikum gefunden. Das Unternehmen, das 50 Mitarbeiter zählt, will seine Belegschaft durch vierzig Neueinstellungen in allen Berufen (Technik, Marketing und Vertrieb) bis Ende 2023 erweitern, um die deutschsprachige Version seiner Website zu entwickeln.
Stephanie Hospital
«HelloSafe hat ein innovatives und transparentes Wertangebot. Mit seiner eigenen Technologie hat HelloSafe den Kraftakt geschafft, die Herstellung von Vergleichstools mit einem hohen Mehrwert zu maximieren und gleichzeitig ihre Entwicklungskosten zu begrenzen. Dank der Erfahrung seiner Gründer und ihrer langfristigen Vision ist HelloSafe auch ein starkes Projekt…»
ergänz die Investorin und Gründerin von OneRagtime Stéphanie Hospital.

]]></description><link>https://fintechnews.eu/hellosafe-erhalt-3-mio-chf-fur-die-entwicklung-eine-schweizer-vergleichslosung-fur-finanzprodukte</link><guid>2856</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>HelloSafe erhält 3 Mio. CHF für die Entwicklung eine Schweizer Vergleichslösung für Finanzprodukte</dc:text></item><item><title>Payments Unicorn Satispay Raises €320M Series D Led by Lee Fixel’s Addition</title><description><![CDATA[Italian mobile money platform Satispay has raised €320 million in Series D funding led by New York-based venture capital firm Addition, taking it to “unicorn” status with a valuation of over €1 billion.
Existing investors Greyhound Capital, Coatue, Lightrock, Block Inc., Tencent and Mediolanum Gestione Fondi SGR also participated in the round.
Satispay provides an alternative to credit and debit cards by allowing users to conduct transactions using only a phone number and an IBAN, thus eliminating the need for traditional intermediaries.


The platform allows users to pay in physical and online stores and exchange money between friends, as well as enables businesses to accept payments through a card-independent payment system.
Satispay claims to have three million consumers and 200,000 merchants in its network, including brands such as Carrefour, Eataly, and McDonald’s.
The company is headquartered in Milan, with offices in Luxembourg and Berlin. It employs 300 people and has raised over €450 million in funding since its inception in 2013.
Alberto Dalmasso
“In the last two years, we have experienced exceptional growth, more than doubling our customer base and launching in three new markets.

We have also been able to bring in a lot of additional talent to our teams, helping us transform Satispay into a bigger, more structured competitive reality. It is truly a new beginning and we feel more determined than ever.”
said Alberto Dalmasso, Co-Founder and CEO of Satispay.
Lee Fixel
“We look forward to supporting Satispay as it continues to grow its team, expand its customer and merchant bases and accelerate its business to become Europe’s leading payment network,”
said Lee Fixel of Addition.
]]></description><link>https://fintechnews.eu/payments-unicorn-satispay-raises-320m-series-d-led-by-lee-fixels-addition</link><guid>2852</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Payments Unicorn Satispay Raises €320M Series D Led by Lee Fixel’s Addition</dc:text></item><item><title>Crypto.com Can Now Operate in France</title><description><![CDATA[Crypto.com has been cleared to operate in France as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
The company stressed that it was subjected to a rigorous review process in its bid to receive regulatory approval, particularly around anti-money laundering and combating the financing of terrorism.
Crypto.com also received regulatory approval from the Organismo Agenti e Mediatori to operate in Italy in July, as well as the Monetary Authority of Singapore and the Dubai Virtual Assets Regulatory Authority in June.


Founded in 2016 and headquartered in Singapore, the platform currently serves some 50 million customers.
Kris Marszalek
“The European market is central to the long-term growth and success of Crypto.com and we are tremendously proud to now receive registration in France from the AMF,”
said Kris Marszalek, CEO of Crypto.com.
]]></description><link>https://fintechnews.eu/cryptocom-can-now-operate-in-france</link><guid>2853</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Crypto.com Can Now Operate in France</dc:text></item><item><title>Mollie Offers Up to €250,000 in Financing for Businesses in the Netherlands and Belgium</title><description><![CDATA[Dutch B2B payments company Mollie has introduced Mollie Capital, a credit service for the platform’s existing customers to obtain cash advances of up to €250,000.
Customers will be able to apply for funding through the platform’s dashboard and funds can be made available as early as on the same day.
Those approved for funding need only pay a fixed one-time fee, and Mollie will automatically take repayments as a portion of the company’s daily sales.


Mollie Capital is currently available to select businesses in the Netherlands and Belgium, with plans to launch in other parts of Europe later this year.
The company previously raised a US$800 million Series C led by Blackstone Growth in June 2021.
Shane Happach
“Mollie Capital is a milestone product launch for us. It marks our first step towards becoming a financial services provider whilst aligning with our goal to help small- and medium-sized merchants compete with the industry’s biggest players,”
said Shane Happach, CEO of Mollie.
]]></description><link>https://fintechnews.eu/mollie-offers-up-to-250000-in-financing-for-businesses-in-the-netherlands-and-belgium</link><guid>2854</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Mollie Offers Up to €250,000 in Financing for Businesses in the Netherlands and Belgium</dc:text></item><item><title>IMTF and Parashift Partner to Accelerate Document Processing for Compliance</title><description><![CDATA[Document processing platform Parashift has partnered with regtech company IMTF to integrate its autonomous data extraction solutions with IMTF applications.
The integration will enable companies to easily map out processes such as mortgage applications, KYC, or general inbox processing with minimal manual interactions.
Founded in 2018, Parashift’s technology allows for data extraction without configuration and training, with its machine learning models trained at the field level and across use cases.


Aside from IMTF, Parashift also serves clients such as Swiss cantonal bank BLKB.
Mattia Rüfenacht
“The partnership between IMTF and Parashift reflects the need of banks and financial institutions for business processes to be fast, smooth, and automated.

As the demand for document and compliance process automation increases, partnerships like the one with IMTF help serve this demand and guide business leaders worldwide in their digital transformation,”
said Mattia Rüfenacht, Head of Business Development at Parashift.
Gion-Andri Büsser
“With this integration, IMTF and Parashift are working together to simplify data management across organisations and drive operational improvements. This enables our customers to automate internal processes significantly and ultimately serve clients better”
said Gion-Andri Büsser, CEO of IMTF.


Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/imtf-and-parashift-partner-to-accelerate-document-processing-for-compliance</link><guid>2851</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>IMTF and Parashift Partner to Accelerate Document Processing for Compliance</dc:text></item><item><title>eToro Partners OpenPayd to Enable Instant Deposits and Withdrawals Across Europe</title><description><![CDATA[Social investment platform eToro has partnered with banking infrastructure provider OpenPayd to provide eToro’s European customers with instant withdrawals and deposits.
OpenPayd will allow eToro to issue virtual International Bank Account Numbers or IBANs unique to each customer, and give eToro access to SEPA Instant rails for the first time.
OpenPayd’s API-based solution means that eToro can slash time spent on reconciliations, remove the possibility of human error and speed up payment processing times.


The solution is currently live for eToro Money accounts in 12 countries and is being rolled out across Europe. eToro Money connects with an existing eToro investment account so that users can manage their funds in one place.
Kreeson Thathiah
“With every customer receiving their own virtual IBAN and access to the real-time European payment rails, SEPA Instant, we can ensure that funds are moving when, how and to whom they’re supposed to,”
says Kreeson Thathiah, Director of Payments at eToro.
Iana Dimitrova
“Our infrastructure was built for use cases just like eToro Money. We strongly believe that embedding financial services in this way powers business growth, enabling any company to build new products, streamline operations and manage payments globally,”
says Iana Dimitrova, CEO of OpenPayd.
]]></description><link>https://fintechnews.eu/etoro-partners-openpayd-to-enable-instant-deposits-and-withdrawals-across-europe</link><guid>2848</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>eToro Partners OpenPayd to Enable Instant Deposits and Withdrawals Across Europe</dc:text></item><item><title>Revolut is Now a Fully Registered Crypto Service Provider in the UK</title><description><![CDATA[Digital money app Revolut has been approved by the United Kingdom’s Financial Conduct Authority (FCA) to offer cryptocurrency products and services in the country.
The company was previously providing crypto buying, selling and trading services under the the FCA’s temporary registration regime which allows service providers to continue operating while their applications were being reviewed.
CoinDesk received confirmation from an FCA spokesperson that Revolut has indeed been added to its financial services registry of cryptoasset firms as it has met the requirements of money-laundering regulations.


38 cryptoasset firms are currently registered with the FCA, including Gemini, Fidelity and eToro.
Founded in 2015, Revolut had 20 million retail customers, 250 million transactions each month, and 5,000 employes globally as of July 2022.
The company previously announced that it will utilise Stripe’s payments infrastructure to expand in the UK and Europe.
]]></description><link>https://fintechnews.eu/revolut-is-now-a-fully-registered-crypto-service-provider-in-the-uk</link><guid>2849</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Revolut is Now a Fully Registered Crypto Service Provider in the UK</dc:text></item><item><title>Credit Suisse Clients Can Now Obtain Property Valuations on the CSX App</title><description><![CDATA[Credit Suisse, in cooperation with PriceHubble and MoneyPark, has incorporated information on real estate valuations and the option to sell properties into its Property Cockpit.
The new features enables Credit Suisse clients in Switzerland to get a real-time indication of the market demand for their property, gain insights about their neighborhood, and keep track of their mortgage.
The partnership with PriceHubble also allows clients to carry out simulated property valuations. For example, clients can gauge the impact of a renovation on their property’s value by providing a few details.


While the partnership with MoneyPark allows clients to identify qualified potential buyers, initiate a sale digitally, and engage end-to-end brokerage services.
Clients will also be able to track the status of these engagements on the Credit Suisse banking portal and the CSX mobile app throughout the entire process.
The companies first announced that they had entered a strategic partnership in November 2021.
Roger Suter
“The consolidated overview in the Property Cockpit provides clients with full transparency, control, and insights so that they can assess their real estate situation. It also allows our client advisors to provide comprehensive wealth advice tailored to the needs of our clients.”
said Roger Suter, Head of Private Banking Switzerland at Credit Suisse.
Anke Bridge Haux
“These innovative features developed in cooperation with MoneyPark and PriceHubble are a crucial step toward a comprehensive ecosystem that consistently takes into account our clients’ need for a transparent and seamless service in regard to the valuation, sale, and financing of real estate,”
adds Anke Bridge Haux, Head of Personal &amp; Business Banking at Credit Suisse.
]]></description><link>https://fintechnews.eu/credit-suisse-clients-can-now-obtain-property-valuations-on-the-csx-app</link><guid>2850</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Credit Suisse Clients Can Now Obtain Property Valuations on the CSX App</dc:text></item><item><title>Revolut, Wise and N26 Were the Most Googled Virtual Banks in Europe</title><description><![CDATA[A study found that Revolut was the most searched online banking service in Europe, receiving the most searches in 25 countries. Wise came in second as the most searched in nine countries and N26 comes in third as the most searched in four countries.
The study was conducted by UK-based broker CMC Markets based on Ahrefs data on the average number of monthly searches each bank received in each European country.
The study, conducted by spread betting broker CMC Markets, analysed a comprehensive list of online banking services available in Europe through Ahrefs.
#1 Revolut
Revolut was the most Googled overall, being first in 15 countries, including Switzerland with 25,000 average monthly searches, and Germany and Spain with 71,000 average monthly searches each.


The bank is also the second most searched in six more countries like France and Iceland, and third in six countries including Belgium, Italy and Belarus.
Overall, Revolut registered 923,080 average monthly searches throughout the whole of Europe.
#2 Wise
Wise came in second, as it appeared the most throughout the list just below Revolut, ranking in the top three most searched banks in 42 of the 48 countries that were studied.
The bank is also the most searched in nine countries, among them Estonia with 6,300 average monthly searches, as well as Norway, Turkey and Ukraine.
Wise was the second most searched in 18 countries including Hungary, Greece and Portugal, while it is third in five countries. Overall Wise counts 338,080 average monthly searches in Europe.
#3 N26
N26 came in third as it was the top result in four European countries: Andorra, Austria, San Marino and Slovenia.
The bank was also the second-most searched in four countries including Belgium and Luxembourg, and the third most searched in 10 countries.
]]></description><link>https://fintechnews.eu/revolut-wise-and-n26-were-the-most-googled-virtual-banks-in-europe</link><guid>2846</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/Screenshot-2022-09-27-at-10.21.49-AM-1024x589.png?x30842</dc:content ><dc:text>Revolut, Wise and N26 Were the Most Googled Virtual Banks in Europe</dc:text></item><item><title>Coinbase Gets Greenlight to Operate Its Crypto Exchange in the Netherlands</title><description><![CDATA[Coinbase has secured regulatory approval from the Dutch central bank as a crypto service provider, allowing it to offer its full suite of retail, institutional, and ecosystem products to customers in the country.
This makes Coinbase one of the first major global crypto exchanges to be approved by the De Nederlandsche Bank to operate in the country, alongside eToro and other platforms such as BitPay and Okcoin.
Coinbase currently serves customers across almost 40 European countries through dedicated hubs in Ireland, the UK, and Germany.


The company also announced in August that it has partnered with BlackRock to give BlackRock’s institutional clients direct access to cryptocurrency trading capabilities.
Nana Murugesan
“Coinbase prides itself on being a compliance-led business. The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here,”
said Nana Murugesan, Vice President, International and Business Development at Coinbase.
]]></description><link>https://fintechnews.eu/coinbase-gets-greenlight-to-operate-its-crypto-exchange-in-the-netherlands</link><guid>2847</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Coinbase Gets Greenlight to Operate Its Crypto Exchange in the Netherlands</dc:text></item><item><title>Swiss and Liechtenstein Crypto Assets Ecosystem Continues to Grow Despite Market Turmoil</title><description><![CDATA[In Switzerland and Liechtenstein, the crypto assets investment ecosystem continues to grow and mature, despite market volatility and declining trading volumes, a new report by the Institute of Financial Services Zug (IFZ) of the Lucerne University of Applied Sciences and Arts (HSLU) shows.
The second edition of the Crypto Assets Study, released earlier this month, gives an overview of the current state in the Swiss and Liechtenstein crypto assets investment ecosystem, delving into the key trends that have emerged over the past year and the developments that have been observed.
According to the report, the Swiss and Liechtenstein ecosystem for crypto assets has remained rather resilient in 2022 with new developments being recorded. In 2022, new financial products hit the market and more financial products were being made available to investors, especially in the form of indirect investment vehicles like exchange traded products (ETPs) and open end funds.


Since crypto-focused ETPs and open end funds first appeared back in 2018, they have continuously grown in number. The report notes the existence of a total of 114 ETPs and open funds domiciled, traded or available for sale in Switzerland and/or Liechtenstein, as of April 2022, underlining the popularity of these indirect investment vehicles among investors.
Number of individual ISINs of ETPs and open-end funds, Source: Crypto Assets Study 2022, IFZ HSLU, Sep 2022
A study of 32 companies in the crypto assets sector as part of the report revealed that Swiss and Liechtenstein companies offer diverse investment products and services for crypto assets, though the majority of players do focus on one or two product offerings.
Issuance and tokenization solutions, asset and wealth management, and brokerage were found to be the most common offerings, while lending services, on the other hand, stood on the other side of the spectrum and were provided by just a few companies.
Key activities of companies from factsheets received, Source: Crypto Assets Study 2022, IFZ HSLU, Sep 2022
Crypto trading volumes decline
These developments are occurring despite a volatile crypto market and declining trading volumes.
In April 2022, total assets under management (AUM) of ETPs and open end funds stood at around CHF 4 billion after peaking in November 2021 to a little over CHF 6 billion, a drop that’s consistent with the general price developments and market pullback observed in 2022, the report says.
Total assets of ETPs and open-end funds, Source: Crypto Assets Study 2022, IFZ HSLU, Sep 2022
Looking at trading volumes on SIX Swiss Exchange and BX Swiss, the two exchanges where investors can purchase crypto-related indirect investment products in Switzerland, the report notes that a total trading volume of CHF 6.5 billion between May 2021 and April 2022.
The sum represents a slight decline compared with the previous year where a total of CHF 7 billion in indirect financial products on crypto assets were traded between October 2020 and September 2021.
Market trades by month, Source: Crypto Assets Study 2022, IFZ HSLU, Sep 2022
Trading volumes on centralized crypto exchanges have also decreased. Between May 2021 and April 2022, the total trading volume for direct investments in crypto assets on the top 15 largest centralized exchanges stood at an estimated at CHF 81.2 billion for Switzerland. In comparison, that sum amounted to CHF 92.6 billion between October 2020 and September 2021.
Between May 2021 and April 2022, Binance was found to be the largest crypto exchange platform in Switzerland, accounting for roughly 34% of the total trading volume of the 15 largest centralized crypto exchanges and 46% of the estimated Swiss trading volume.
An analysis of web traffic also showed that crypto exchanges FTX, CoinFLEX, and Kucoin had the highest traffic rates and therefore had been accessed the most from Switzerland during the period. This shows that they are among Swiss investors’ preferred trading platforms.
Annual trading volumes of the 15 largest centralised crypto exchanges, May 1, 2021 to April 30, 2022, Source: Crypto Assets Study 2022, IFZ HSLU, Sep 2022
A troubling year
The crypto market has had a rough couple of months, with market capitalization plunging nearly 70% from its all-time high of US$3 trillion in November 2021 to now about US$970 billion, data from CoinMarketCap show. Bitcoin has lost more than 50% of its value since the beginning of the year, while ether has fallen 62%.
The nosedive comes amid a series of issues occurring in the industry over the past year. In May, Terra collapsed after its terraUSD (UST) and luna tokens lost nearly US$45 billion in value. Several crypto firms, including the now-bankrupt hedge fund Three Arrows Capital (3AC), had a large exposure to UST, leading to contagion across the broader crypto industry.
Celsius Network is another crypto company that filed for bankruptcy this year, owing customers around US$4.7 billion, according to its filing.
]]></description><link>https://fintechnews.eu/swiss-and-liechtenstein-crypto-assets-ecosystem-continues-to-grow-despite-market-turmoil</link><guid>2845</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Swiss and Liechtenstein Crypto Assets Ecosystem Continues to Grow Despite Market Turmoil</dc:text></item><item><title>Crypto App hi and Mastercard Launch Debit Card With NFT Customisation</title><description><![CDATA[Crypto app hi and Mastercard have launched the world’s first debit card with NFT avatar customisation, allowing cardholders to personalise their card with an NFT avatar that they verifiably own.
The card will initially be available to hi members in over 25 countries in the European Economic Area (EEA) as well as the UK. Membership is obtained by staking hi’s token.
hi’s upper tier members will be eligible for NFT avatar customisation from a limited range of NFT collections including CryptoPunks, Moonbirds, Goblins, Bored Apes and Azukis.


The hi debit card will be issued by London-based payments company Moorwand.
Sean Rach
“Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world.

The flexibility to spend fiat, stablecoins or other crypto, combined with attractive financial and lifestyle rewards, makes us confident that our card is a game-changer in the market,”
says Sean Rach, Co-Founder of hi.

Christian Rau
“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payments choice for the communities who wish to use them,”
says Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard.
]]></description><link>https://fintechnews.eu/crypto-app-hi-and-mastercard-launch-debit-card-with-nft-customisation</link><guid>2844</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Crypto App hi and Mastercard Launch Debit Card With NFT Customisation</dc:text></item><item><title>Web3 Investco Acquires Luxembourg Crypto Platform Blocktrade</title><description><![CDATA[Zug-based private equity firm Web3 Investco has signed a definitive agreement to buy 100 percent of the voting shares of Luxembourg-based digital asset exchange Blocktrade from the Elite Club Foundation.
Blocktrade was founded in 2018 before being acquired by Swiss fintech venture builder Cryptix in August 2019. The company has seen three CEOs since its founding, with the latest being Christian Niedermüller in February 2022.
The company, which also holds Virtual Asset Service Provider registrations in Estonia and in Italy, aims to build the go-to crypto investment platform for all things around gamification, social gaming and networking.


Christian Niedermüller
“Blocktrade will highly benefit from the vast industry knowledge and extensive network of its new shareholder and the people behind it.

Once acquired the necessary licenses, we plan to list many new assets and asset classes followed by their communities and will pivot into the area of gaming, skill/social gaming and everything around network effects in the next half year,”
said Christian Niedermüller, CEO of Blocktrade and board member of its new shareholder Web3 Investco AG.
]]></description><link>https://fintechnews.eu/web3-investco-acquires-luxembourg-crypto-platform-blocktrade</link><guid>2843</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Web3 Investco Acquires Luxembourg Crypto Platform Blocktrade</dc:text></item><item><title>Finastra Integrates With Visa Direct for Cross Border Payouts</title><description><![CDATA[Financial services software and cloud solutions provider Finastra and Visa will co-develop new functionality to enable banks and financial institutions to offer their SME and individual clients cross-border payout solutions in multiple currencies and countries.
The collaboration integrates Finastra’s Payments Hub solutions with Visa Direct to enable banks to access the Visa network through Finastra’s FusionFabric.cloud open development platform.
The new processing capability allows banks to bypass expensive and time consuming complexities and offer quick, low cost payments for their customers.


Barry Rodrigues
“This Banking as a Service (BaaS) partnership will allow banks to offer their customers greater choice in how to route cross-border payments, with banks essentially embedding Visa products,”
said Barry Rodrigues, EVP Payments Business Unit at Finastra.
Ruben Salazar Genovez
“We are excited to partner with Finastra to support the enablement of their bank customers worldwide with simple access to Visa Direct,”
said Ruben Salazar Genovez, SVP, Global Head of Visa Direct.
]]></description><link>https://fintechnews.eu/finastra-integrates-with-visa-direct-for-cross-border-payouts</link><guid>2841</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Finastra Integrates With Visa Direct for Cross Border Payouts</dc:text></item><item><title>Japan’s Nomura Holdings Picks Switzerland for its New Digital Assets Business</title><description><![CDATA[Japanese financial services group Nomura Holdings has established a new digital assets business in Switzerland called Laser Digital, with Steven Ashley as Chairman and Jez Mohideen as CEO.
According to the company, Switzerland was selected as the location for the new entity given its robust digital assets and blockchain regulatory regime and attractive talent pool.
Laser Digital will announce new services and product lines in the coming months focusing on three core areas: secondary trading, venture capital and investor products.


The first product to launch will be Laser Venture Capital, which will invest in companies working in decentralised finance (DeFi), centralised finance (CeFi), web3 and blockchain infrastructure.
Kentaro Okuda
Kentaro Okuda, President and Group CEO of Nomura Holdings, said:
“Staying at the forefront of digital innovation is a key priority for Nomura. This is why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would be setting up a new subsidiary focused on digital assets.

We look forward to sustainable growth in this new business under the leadership of Steven and Jez.“
Steven Ashley
Steven Ashley, Chairman of Laser Digital, said:
“The new company will enable us to build an edge in providing institutional clients with access to a wide range of new products and services and contribute meaningfully towards responsible innovation in the digital asset ecosystem.”
]]></description><link>https://fintechnews.eu/japans-nomura-holdings-picks-switzerland-for-its-new-digital-assets-business</link><guid>2842</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Japan’s Nomura Holdings Picks Switzerland for its New Digital Assets Business</dc:text></item><item><title>Payment Innovations Remain Apple’s Top Fintech Priority</title><description><![CDATA[With a market capitalization of more than US$2 trillion and over US$100 billion in annual profit, American technology giant Apple is one of the most valuable companies in the world. Widely known for its consumer electronics, including the Macintosh personal computers, the iPhone smartphones line, and the iPad tablet computers, the company has been consistently innovating over the years and is now exploring areas such as augmented reality and virtual reality (AR/VR), semiconductors, but also payments and financial services.
An analysis by business analytics and market intelligence platform CB Insights that looks at Apple’s acquisitions, partnerships and investments activity, notes that the firm has acquired no less than 25 companies since 2018.
Data are pointing at four main strategic priorities centered on AR/VR, digital health, artificial intelligence (AI) and machine learning (ML), and semiconductors and advanced materials, but recent developments are also suggesting a greater commitment to developing its finance business.


This is evidenced by the establishment of Apple Financial, a wholly-owned subsidiary, which will be powering the firm’s forthcoming Apple Pay Later service scheduled for public release in the fall of 2022, as well as the acquisition of British open banking credit reference agency Credit Kudos for a reported US$150 million.
An earlier Bloomberg report has also revealed Apple’s secret “Breakout” initiative that’s allegedly seeking to bring more financial services capabilities, including payment processing, risk and fraud analysis, credit checks, subscription programs for hardware purchases, and buy now, pay later (BNPL), in-house.
These moves hint at a desire from the firm to reduce its reliance on third parties and banking partners, and perhaps also to a broader aspiration to build a full-blown financial services offering and create new revenue streams, Alex Johnson, director of fintech research at investment advisory firm Cornerstone Advisors, wrote in an in-depth opinion piece in July.
A focus on payments
Although Apple has been exploring products such as credit cards, BNPL and checking accounts, it appears that payments still remain the firm’s top priority at this point in time.
A separate analysis by CB Insights points out several payment innovations Apple is actively pursuing. It first cites digital identity (ID) wallets, a new generation of mobile wallets that intends to act as an all-in-one solution to friction in not only payments but also ID verification and access management.
Just like physical wallets are being used to carry identification documents like drivers’ licenses, office badges, and student cards, digital ID wallets aims to provide users with a way to store payment information digitally as well as essential documents, including IDs, passports, citizenship information and even biometrics information.
In the field, Apple has been among the first movers, announcing in September 2021, that eight states in the US had started supporting Apple Wallet IDs, allowing their residents to add their driver’s license or state ID to their Apple Wallet and present these documents at select airport security checkpoints. Apple said it will be expanding to retailers and venues next.
Apple Wallet IDs, Source: Apple
The other trend Apple is pursuing is wearable payments. The company, which already pairs its mobile wallet offering with its smartwatches, announced in February 2022 a new feature that’s poised to boost the adoption of NFC-enabled payments and encourage the use of wearables to conduct transactions.
Called Tap to Pay, the feature allows businesses to use iPhones to accept contactless payments without the need to purchase or manage additional hardware. At checkout, the merchant simply needs to prompt the customer to hold their iPhone or Apple Watch to pay with Apple Pay, their contactless credit or debit card, or other digital wallet near the merchant’s iPhone, and the payment will be completed using NFC technology.
Apple Tap and Pay transaction, Source: Apple
Apple first released its digital wallet and mobile payment system back in 2014. Back then, only 3% of US retailers access contactless payments. While adoption of Apple Pay was slow at first, the service started picking up steam in the years that followed, and is now rapidly gaining momentum.
According to research from American venture capital (VC) firm Loup Ventures, the percentage of iPhones with Apple Pay activated was 10% in 2016 and 20% in 2017. In 2020, it hit 50%, and it’s now around 75%. About 90% of retailers in the US now accept Apple Pay, the company claims.
Mobile wallets are one of the fastest-growing industries in the world. According to CB Insights Industry Analyst Consensus, it’s currently worth around US$1 trillion and is projected to grow to over US$7 trillion by 2027.
]]></description><link>https://fintechnews.eu/payment-innovations-remain-apples-top-fintech-priority</link><guid>2840</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Payment Innovations Remain Apple’s Top Fintech Priority</dc:text></item><item><title>Ledgy Raises US$22M Series B to Help European Startups Manage Equity</title><description><![CDATA[Swiss equity management platform Ledgy has raised a US$22 million Series B funding round led by New Enterprise Associates (NEA). Speedinvest as well as existing investors Sequoia Capital, 20VC, btov and VI Partners also participated in the round.
Ledgy supports employers in all equity-related matters including captable management, stakeholder reporting, implementing and automating vesting rules, and ensuring compliance.
The platform helps employees understand the value of their stake in the company with dashboards that include vesting periods and scenario planning.


Investors can also view portfolio metrics such as IRR or MOIC, but also company-specific key metrics such as revenue, P&amp;L and runway.
According to NEA, Ledgy is currently managing equity in 42 countries and for more than 2,500 companies including startups such as Pleo, Trade Republic and Wefox.
The latest fundraise also sees the addition of NEA Partner Jonathan Golden to Ledgy’s board.

“The companies we have spoken to praised Ledgy for its ease of use— from initial setup to onboarding new employees and investors across different geographies.

The unanimous feedback was that Ledgy allowed companies to grow, both in terms of headcount and across geographies, while drastically reducing the complexity of finance and legal functions,”
said Jonathan Golden, Partner at NEA.
Yoko Spirig
“The team has grown from around 20 people to more than 60 in the last year, and we’ve managed to have a lot of fun as we’ve scaled!

We are all excited to keep pushing to build a category defining product and take the pain out of equity management for even more companies in the months and years ahead,”
said Yoko Spirig, CEO and Co-Founder at Ledgy.
]]></description><link>https://fintechnews.eu/ledgy-raises-us22m-series-b-to-help-european-startups-manage-equity</link><guid>2839</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Ledgy Raises US$22M Series B to Help European Startups Manage Equity</dc:text></item><item><title>Fintech M&amp;A Deal Activity Accelerates in DACH Region</title><description><![CDATA[In Germany, Austria and Switzerland, also referred to as the DACH region, fintech funding and acquisition activities have accelerated over the past few of years on the back of a maturing fintech market and increasing appetite from strategic players and industry stakeholders, according to a new report by PwC.
Over the last ten and a half years, DACH’s fintech industry has seen US$23.1 billion worth of transactions taking place, including capital increases and merger and acquisition (M&amp;A) deals. More than half of that sum involved rounds and deals concluded over the past 30 months, showcasing that dealmaking activity has grown drastic over just the past two years, the new study shows.
Fintech funding in DACH report 2011-H1 2022, Source: PwC, 2022
Soaring fintech funding activity has been driven by several trends, the firm says, first, by the maturing of DACH’s fintech sector, a trend that’s evidenced by the general increase in later-stages venture capital (VC) rounds and the fivefold increase of the median deal value.


Transaction median deal size (USD million), Source: PwC, 2022
Median deal value increased five times between 2016 and 2021, soaring from just US$1.3 million to US$6.5 million. This rise can be attributed to the emergence of the blockchain and cryptocurrency vertical, and the birth of the region’s first fintech unicorns and their large funding rounds, the report says.
Notable blockchain and crypto deals closed in 2017 and 2018 included Polkadot’s US$250 million fundraise led by Fabric Venture and Dfinity’s US$102 million fundraise led by Andreessen Horowitz.
DACH is currently home to eight fintech unicorns and all of them have reached a US$1 billion and plus valuation in the past 30 months after closing mega-rounds of US$100 million and up, data from CB Insights show.
German digital bank N26 got a US$2.7 billion valuation after closing a US$300 million fundraise in January 2019, WeFox’s US$235 million fundraise that same year brought its valuation to US$1.6 billion, and Austria’s Bitpanda raised US$170 million in March 2021, bringing its valuation to US$1.7 billion and becoming the country’s first fintech unicorn.
The second driver outlined by PwC is strategic investors’ rising participation in the fintech sector, a trend that’s visible when comparing their participation in H1 2022 versus 2011. While in 2011, strategic investors only accounted for 8% of the investors in fintech, that proportion grew 2.7 times to 22% in H1 2022.
Results of a survey conducted by PwC as part of the report further showcased that trend. Of the 30 bank executives interviewed, 45% of respondents in Switzerland and Liechtenstein said they had already invested in fintech, showcasing the banking sector’s increasing appetite for fintech investments.
Large and medium-sized banks with assets under CHF 10 billion were found to be the most active, with the majority of respondents having already invested in fintech and concluded 2.6 deals on average. Moving forward, 38% of respondents indicated that they intended to invest in fintech over the next two years.
Appetite for fintech investments in the Swiss and Liechtenstein banking landscape, Source: PwC, 2022
When asked about their broader strategy when it comes to fintech, 55% of respondents indicated having a formal and documented fintech strategy, showcasing that the majority of incumbents have a clearly defined approach to fintech.
For most banks, the main reasons they invest in a fintech company is to gain access to new technology (35%) or enter new market and business model (30%). Digital distribution (26%), blockchain and cryptocurrencies (22%) and data analytics (18%) were cited as the top capabilities they sought to develop through fintech investments.
Why do banks invest in fintech, Source: PwC, 2022
The research also found that banks were most interested in revenue-generating fintech companies with functioning business models. They also favor fintech opportunities in Europe (64%), though some private banks indicated considering opportunities in South America or Asia. None of the banks interviewed is considering investing in fintech companies located in the US.
Preference for revenue-generating fintech companies based in Europe, Source: PwC, 2022

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/fintech-ma-deal-activity-accelerates-in-dach-region</link><guid>2838</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/Fintech-funding-in-DACH-report-2011-H1-2022-Source-PwC-2022.png?x30842</dc:content ><dc:text>Fintech M&amp;A Deal Activity Accelerates in DACH Region</dc:text></item><item><title>UK Fintech Monese Secures US$35M Investment From HSBC Ventures</title><description><![CDATA[UK-based money app Monese has received a US$35 million investment from HSBC Ventures, bringing the total amount it has raised so far to US$208 million.
The investment is said to be part of a broader strategic partnership that focuses on growing Monese’s platform and exploring the “full extent of digital banking possibilities”.
Monese first launched its mobile money service in 2015, followed by business accounts in 2018 and joint accounts in 2019. It had two million sign ups as of 2020.


In 2021, the company launched its Platform-as-a-Service business, raised its Series C led by banking solutions provider Investec, and acquired financial services provider Trezeo.
Catherine Zhou
Catherine Zhou, Global Head of Ventures, Digital Partnerships and Innovation at HSBC Ventures, said:
“HSBC is excited to invest in Monese as one of the leading fintech players in the market. Our investment will provide stronger strategic alignment and enable us to build on our strengths as partners.”
Norris Koppel
Norris Koppel, Founder and CEO of Monese, said:
“Securing the support of a tier one global bank demonstrates the strength of our platform and the continued appetite from investors in the platform.

I am delighted to have such a distinguished partner and investor in HSBC, who brings a great deal of experience in delivering exceptional banking services.”
]]></description><link>https://fintechnews.eu/uk-fintech-monese-secures-us35m-investment-from-hsbc-ventures</link><guid>2835</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>UK Fintech Monese Secures US$35M Investment From HSBC Ventures</dc:text></item><item><title>CYBERA Raises Additional US$5M to Disrupt Financial Cybercrime</title><description><![CDATA[CYBERA Global Inc. has secured an additional US$5 million in what it says was an oversubscribed equity round led by Converge VC and New North Ventures.
Founder Collective, Swiss venture capital firms Serpentine Ventures and CV VC, as well as other institutional and angel investors also participated in the round.
Previous well-known investors include former financial supervisor in the Vatican René Brülhart, as well as former head of UBS and current President of the Swiss Bankers Association Marcel Rohner.


The additional funds will help scale CYBERA’s solutions that focuses on logging and sharing cybercrime victim reports and creating a global watchlist for problematic accounts.
According to the FBI’s IC3 division, financial cybercrimes cost businesses a combined US$6.9 billion in 2021 — up 164 percent from 2020.
The international scope and complexity of these scams often involve many local, regional and international parties, making enforcement a challenge.
The company says that it has already identified over 2,000 problem accounts and helped freeze hundreds of thousands of dollars linked to cybercrime.
Nicola Staub
“As a former prosecutor, I have seen the impact of this issue first hand, as well as the complexities of tracking international gangs operating at high speed. This is a fully scalable, secure solution and addresses key regulatory concerns,”
said Nicola Staub, CEO and Co-Founder of CYBERA.
This article first appeared on Fintech News America.

]]></description><link>https://fintechnews.eu/cybera-raises-additional-us5m-to-disrupt-financial-cybercrime</link><guid>2836</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>CYBERA Raises Additional US$5M to Disrupt Financial Cybercrime</dc:text></item><item><title>Payments Group PayU Finalises Acquisition of Colombia’s Ding to Expand to LATAM</title><description><![CDATA[Netherlands’ PayU has received the endorsement of Colombian regulatory authorities to acquire local electronic payment and deposit specialist Tecnipagos, better known as Ding.
Based in Bogota, Ding allows merchants to make electronic deposits like they would with a savings account, and accept payments from credit and debit cards, QR codes, and other methods.
The company also issues its own Visa debit and business cards, available in both physical and virtual form.


PayU is an e-commerce payment solutions and consumer credit provider that also invests in fintech startups. The company operates in over 50 markets, has offices in 18 locations and over 3000 employees.
Francisco León
Francisco León, CEO of PayU Latin America comments:
“PayU has accompanied the evolution of online payments in Colombia and the company now seeks to expand its scope of services to boost the financial inclusion of small and medium-sized companies in the country.

We are extremely excited about the acquisition of Ding, as it will help our growth strategy further respond to the permanent challenges arising from the market.”
Juan Camilo Vargas
Juan Camilo Vargas, Country Manager at PayU Colombia adds:
“Our strategic vision focuses especially on leveraging SMBs in the country and this acquisition will be a cornerstone in this important purpose.”

This post first appeared on Fintech News America.

]]></description><link>https://fintechnews.eu/payments-group-payu-finalises-acquisition-of-colombias-ding-to-expand-to-latam</link><guid>2834</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Payments Group PayU Finalises Acquisition of Colombia’s Ding to Expand to LATAM</dc:text></item><item><title>UBS Venture Unit Leads New Wealthtech US$50M Series C Funding Round</title><description><![CDATA[New York-based asset management platform Ethic has closed a US$50 million Series C funding round led by the Jordan Park Group, with participation from UBS’ venture unit UBS Next.
The round also saw participation from existing investors including Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital.
Ethic provides financial intermediaries with custom equity portfolios that can be tailored to end clients’ individual sustainability, financial, charitable giving and tax management preferences.


The company has grown rapidly since its US$29 million Series B raise in 2021, surpassing US$2 billion in assets and expanding its team headcount by more than 70 percent.
Its focus on “impact” is endorsed by the Duke and Duchess of Sussex Harry and Meghan, and its impact reporting feature was awarded the 2022 Model Wealth Manager award from global advisory firm Celent.
Doug Scott
“Our personalised approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients,”
said Doug Scott, Co-Founder and CEO of Ethic.
Mike Dargan
“Through UBS Next, we encourage technology-driven innovation and support ideas that have the power to shape the future of banking to meet clients’ evolving needs,”
said Mike Dargan, UBS Group Chief Digital and Information Officer.
“Through our investment in Ethic, we also aim to increase access to customizable, sustainable investment offerings to a much broader set of investors.”

UBS Next previously announced that it had invested in US-based IT operations platform BigPanda.

This article first appeared on fintechnews.am



]]></description><link>https://fintechnews.eu/ubs-venture-unit-leads-new-wealthtech-us50m-series-c-funding-round</link><guid>2832</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>UBS Venture Unit Leads New Wealthtech US$50M Series C Funding Round</dc:text></item><item><title>Portofino Technologies Raises US$50M to Scale Its HFT Crypto Infrastructure</title><description><![CDATA[Digital asset trading technology provider Portofino Technologies has raised over US$50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue to scale its technology across the full crypto infrastructure value chain.
The company, founded by former Citadel Securities executives Leonard Lancia and Alex Casimo, builds high-frequency trading (HFT) grade technology for institutions and Web3 projects that require digital asset liquidity.
Portofino says that it has traded billions of dollars across centralized and decentralized cryptocurrency venues and hired a team of 35 HFT specialists globally in the past year.


Leonard Lancia
Leonard Lancia, CEO and Founder at Portofino said:
“This is only the start for Portofino. In Web3, every action is a transaction and we’re building the underlying technology that is going to enable entirely new services and industries in the future.”
James Fitzgerald
James Fitzgerald, Founding Partner at Valar Ventures said:
“As the digital assets market continues to grow rapidly in size and complexity, Portofino’s proprietary technology, which enables the frictionless transfer of digital assets, will become more and more important for institutional and retail participants in the space.”
]]></description><link>https://fintechnews.eu/portofino-technologies-raises-us50m-to-scale-its-hft-crypto-infrastructure</link><guid>2833</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Portofino Technologies Raises US$50M to Scale Its HFT Crypto Infrastructure</dc:text></item><item><title>Banks Jump on the Metaverse Bandwagon</title><description><![CDATA[Banks from around the world are actively exploring the opportunities brought about the metaverse, purchasing virtual land and establishing presence on popular platforms. They believe these virtual environments will help them better engage with younger customers, collaborate with partners and train staff, a new analysis by fintech-focused research firm WhiteSight shows.
The analysis, released on August 25, 2022, delves into the major moves that have made by banking incumbents and financial institutions, outlining the different ways they’ve engaged in the metaverse, including land acquisition, trademark and patent filings, and more.
First, many banks are purchasing plots and virtual real estate on popular platforms like The Sandbox and Decentraland, the report notes, a move that’s generally intended to enabling them to establish a presence.


JPMorgan was an early mover, launching in February 2022 its Onyx Lounge in Decentraland. This was followed later on by HSBC, which acquired in March a plot of virtual real estate in The Sandbox to engage with sports, e-sports and gaming fans. Standard Chartered was next, buying virtual land in The Sandbox as well in April to engage with “clients, partners, staff, and the tech community, to explore co-creation opportunities.”
Industry stakeholders are also actively filling for intellectual property (IP) protection, the report says, citing the example of Mastercard, which filed 15 non-fungible token (NFT) and metaverse trademark applications in April 2022 to broaden its payment processing system into the new virtual economy.
Similarly, filings suggest that American Express is seeking to have its real-world payment services work in the metaverse. Trademarks filed indicate that the company is considering providing card payments, ATM services, banking services, and fraud detection to customers in virtual environments.
Bank training and skill development programs are also starting to take shape in the virtual world, the report notes. In South Korea, Hana Bank launched last year a virtual training center on Zepeto, an avatar app operated by the country’s largest Internet company Naver. Bank of America introduced in October 2021 a new virtual reality (VR) training program, allowing approximately 50,000 employees to practice a range of routine to complex tasks and simulate client interactions through a virtual environment.
Metaverse banking: partners and activities, Source: WhiteSight, 2022
Reaching younger demographics and enabling new business models
The metaverse, a concept referring to a shared virtual environment that people access via the Internet, has become one of the hottest business trends of the past two years.
In H1 2022, companies, venture capital, and private equity firms invested more than US$120 billion in the metaverse, according to McKinsey and Company. The sum is more than double the US$57 billion invested in all of 2021, showcasing investors’ continued bullishness in the prospect of the sector.
The consultancy estimates that the metaverse could grow up to US$5 trillion in value by 2030 in value, with e-commerce emerging as the largest economic force (US$2.6 trillion), ahead of sectors such as virtual learning (US$270 billion), advertising (US$206 billion), and gaming (US$125 billion).
For banks, the metaverse represents a huge opportunity to attract young or new customers, enhance customer journeys and create new products, says Chappuis Halder, a management consulting firm part of Capgemini Invent.
One exciting business model enabled by the metaverse is play-to-earn. With play-to-earn, players can recoup in-game earnings as real-world cash, or transfer them to other games, players, or platforms, through cryptocurrencies. This essentially means that players can use their in-game items to buy, sell, and trade digital assets globally, creating thus brand new financial ecosystems, the firm says.
In this scenario, banks could support marketplaces in the creation, ownership and exchange of digital assets, as well as connecting these marketplaces to the traditional economy and fiat currencies, it says.
Health-to-earn is another promising area. These games typically combine play-to-earn, NFTs and GPS technology to track users’ movements and health activities. Data are stored on a blockchain and converted into rewards, typically in the form of cryptocurrency. These rewards are earned by completing in-game tasks like finishing a workout, walking, cycling, running, and so on.
Financial institutions could make use of health-to-earn, allowing, for example, their employees to play fitness games in the metaverse, get rewarded with crypto tokens and accumulate crypto earnings for their medical reimbursement accounts (MRAs). For insurance companies, they could develop specific offers that reward healthy behavior, using gamification to promote better coverage, premiums and health, Chappuis Halder says.

Featured image credit: freepik
]]></description><link>https://fintechnews.eu/banks-jump-on-the-metaverse-bandwagon</link><guid>2830</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Banks Jump on the Metaverse Bandwagon</dc:text></item><item><title>ECB Selects 5 Companies to Jointly Develop Prototype Digital Euro User Interfaces</title><description><![CDATA[The European Central Bank (ECB) will collaborate with five companies to develop potential user interfaces for the digital euro to test how well the technology behind a digital euro integrates with prototypes developed by companies.
Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure.
The selected companies, chosen from a pool of 54 front end providers, will each focus on one specific use case of a digital euro in collaboration with the ECB team:



Peer-to-peer online payments with Spanish financial services company CaixaBank;
Peer-to-peer offline payments with French payments company Worldline;
Point of sale payments initiated by the payer with the European Payments Initiative (EPI), an initiative launched by 31 European financial institutions and two third-party acquirers;
Point of sale payments initiated by the payee with Italian digital payments specialist Nexi; and
E-commerce payments with technology company Amazon.

The firms were selected following the ECB’s April 2022 call for expressions of interest after fulfilling a number of “essential capabilities” and matching the “specific capabilities” required for the assigned use case.
The prototyping exercise is an important element in the ongoing two-year investigation phase of the digital euro project. It is expected to be completed in the first quarter of 2023 when the ECB will also publish its findings.
The ECB says that there are no plans to re-use the prototypes in the subsequent phases of the digital euro project.
]]></description><link>https://fintechnews.eu/ecb-selects-5-companies-to-jointly-develop-prototype-digital-euro-user-interfaces</link><guid>2831</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>ECB Selects 5 Companies to Jointly Develop Prototype Digital Euro User Interfaces</dc:text></item><item><title>Wealthtech InvestSuite Secures €6 million Series A, Adds New Board Members</title><description><![CDATA[Wealthtech solutions provider InvestSuite has completed a €6 million Series A investment round, bringing the total raised to €15 million since inception.
Founded in 2018, the company develops white-label portfolio construction, digital investing and portfolio reporting solutions for financial institutions.
It has over 20 clients in 14 countries, primarily in Europe and the Middle East, with plans to expand to Asia and North America. The company has 70 employees and offices in Leuven, London, Warsaw, Amsterdam, and Sydney.


The funding round also saw the addition of two new strategic investors, the Cronos Group and OSOM Finance, next to existing investor PMV as well as other institutional and angel investors.
Anton Altement, CEO and Co-Founder of OSOM Finance will join the board, while banking executive Frank Stockx will represent the Cronos Group and serve as the new Chairman of the Board.
Laurent Sorber
“This round of financing is a recognition of our mission to bring the best services in InvestTech to the widest possible audience. It enables us to execute our growth ambitions, expand our team and bring our innovations to financial institutions around the globe,”
said Laurent Sorber, CTO and Co-Founder of InvestSuite.
Bart Vanhaeren
“I am very pleased that entrepreneurs like the Cronos Group and OSOM Finance will join our board. They will bring unparalleled entrepreneurial drive and extensive wealth management and investment expertise to the table,”
said Bart Vanhaeren, CEO and Co-Founder of InvestSuite.
]]></description><link>https://fintechnews.eu/wealthtech-investsuite-secures-6-million-series-a-adds-new-board-members</link><guid>2829</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Wealthtech InvestSuite Secures €6 million Series A, Adds New Board Members</dc:text></item><item><title>New Swiss Fintech Startup Map September 2022 Welcomes Fiat24</title><description><![CDATA[Swisscom has released the updated Swiss Fintech Startup Map for September 2022, welcoming this time only one new Swiss Fintech Startup.
The map provides regular updates on the Swiss fintech landscape in the region now displays a grand total of 373 Swiss fintech startups.
For this month the map welcome Fiat24, who offers Swiss Banking in the Metaverse.





]]></description><link>https://fintechnews.eu/new-swiss-fintech-startup-map-september-2022-welcomes-fiat24</link><guid>2827</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>New Swiss Fintech Startup Map September 2022 Welcomes Fiat24</dc:text></item><item><title>Stableton Hires Former GenTwo CMO</title><description><![CDATA[Alternative investment platform Stableton Financial has hired Sandra Chattopadhyay in its newly created role of Head of Content &amp; Communications, responsible for the firm’s global content, communication and media activities.
Sandra has 20 year experience in investment banking and wealth management, having previously held senior roles at 21finance, GenTwo, Bank Vontobel, UBS, Barclays Capital and Société Générale.
The appointment further strengthens Stableton’s communication capabilities in light of its expansion plans after a successful CHF 15 million Series A funding round and being named the Swiss Fintech Awards’ 2022 Growth Stage Startup of the Year.


The firm also reported three promotions to its executive management team earlier this month.
Andreas Bezner
Andreas Bezner, Co-Founder and CEO of Stableton, said:
“Sandra Chattopadhyay’s track record in positioning a fast-growing fintech company will be instrumental as we scale existing activities in Switzerland and expand internationally.

We look forward to drawing from her deep investment banking and wealth management experience.”
Sandra Chattopadhyay
“Working for one of Stableton’s partners, I saw the firm’s quick ascent to prominence as a major Swiss player in the market for late-stage venture capital investments.

I look forward to bringing my expertise to the table when it comes to engaging demanding audiences with distinct information needs,”
said Sandra Chattopadhyay, Head of Content &amp; Communications at Stableton.
]]></description><link>https://fintechnews.eu/stableton-hires-former-gentwo-cmo</link><guid>2828</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Stableton Hires Former GenTwo CMO</dc:text></item><item><title>2022 Swiss Fintech Awards Winners Share Updates, Ambitions</title><description><![CDATA[Stableton Financial and DeepJudge, two of the winners of this year’s Swiss Fintech Awards, have been reaping the fruits of the publicity accompanying the renowned startup competition, using the new-found exposure as an opportunity to expand to new verticals, launch new features and work their way to securing future funding.
DeepJudge hopes to expand to the financial industry
For DeepJudge, a startup that provides artificial intelligence (AI)-powered document processing tools, winning the 2022 Early Stage Startup of the Year Award brought in new customers and interest from a number of venture capital (VC) investors.
The young company, which has so far targeted the legal sector, hopes the exposure will help it expand to the financial industry, a space that could use the improved efficiency and productivity brought about its AI platform, a spokesperson told Fintech News Switzerland.


Founded just last year, DeepJudge has already earned several accolades for its document processing platform. A spinoff of the Swiss Federal Institute of Technology in Zurich (ETH Zurich), the startup has developed a AI-powered solution that’s capable of understanding the context of a document and how it relates to other documents, extract key information, and proof check for inconsistencies.
Paulina Grnarova
DeepJudge’s “intelligent automatization” solution works a bit like an “out-of-the box assistant to legal professionals,” Paulina Grnarova, Co-Founder of the company said, and seeks to address the high amount of manual work done by legal professionals when going through thousands of documents to find, extract or redact relevant information. Instead, legal teams can put the DeepJudge’s platform to the task and focus on the truly strategic aspects of their work.
The solution is multilingual and can be integrated with any document management system. It’s also holistic, meaning that it isn’t specialized in one particular type of document, problem or task, and can be applied to various processes and business functions.
Although DeepJudge is still at an early stage and primarily focusing on signing new customers and further developing its offering at this point in time, the startup does hold the longer term ambitions of expanding overseas, “become a global legaltech company” and “revolutionize the workflow of legal professionals and anyone else that deals heavily with reading and processing documents.”
Stableton Financial increases its market footprint
For Stableton Financial, the operator of an alternative investment platform, winning the 2022 Growth Stage Startup of the Year title has created significant media attention and helped it increase its market footprint, Andreas Bezner, co-founder, managing partner and CEO of Stableton Financial, told Fintech News Switzerland.
Founded in 2018 and operating out of offices in Zug, Zurich, Berlin and Riga, Stableton Financial’s alternative investment fintech platform focuses on the sourcing of  privately-held growth companies and the creation of unique top-tier investment opportunities with improved liquidity. Investments are accessible on a deal-by-deal basis or via portfolios. Private investors can access them through bankable structures with relatively low investment minimums of US$10,000, no paperwork and a short-term investment horizon of up to about five years. In addition, professional investors have access to institutional-grade investment structures and processes that adapt to their way of investing.
Stableton Financial conducts research and due diligence when selecting deals. These deals are often sourced via secondary transactions at attractive discounts to past funding rounds, a stark contrast to other market participants that optimize on volume and list almost any deal on their platforms, Bezner said.
The fintech company currently works primarily with professional and institutional clients such as banks, wealth managers, family offices and pension funds, but is increasingly working directly with clients, as well. It also offers extensive partnership options to financial intermediaries.
Stableton claims more than 2,000 users in Switzerland and says more than 2% of all Swiss financial intermediaries are in its client base.
The winning of the 2022 Growth Stage Startup of the Year Award came on the back of a series of milestones the startup reached this year, including the granting of an asset management license from the Swiss Financial Market Supervisory Authority (FINMA), as well as the closing of its CHF 15 million Series A round. Announced in July, the company said at the time that the proceeds will be used to scale its existing activities in Switzerland, broaden its technological offering and available investment structures, as well as expand internationally.
Andreas Bezner
“Both the Swiss Fintech Award and the funding announcement helped us to get noticed and recognized even more,” Bezner said.
“We find ourselves among Switzerland’s most visible players in the alternative investment space as we work on partnerships with the biggest banks. […] [Also,] we are receiving tremendous positive feedback and inbound interest from product investors, as well as strategic and VC investors.”
Bezner said Stableton is now working on the rollout of new products and platform features. “Within five years, we aim to be one of the global fintech leaders in the alternative investment space, building a globally-leading market network for alternative investments,” he stated. Last week Stableton also announced the expansion of their management team.
]]></description><link>https://fintechnews.eu/2022-swiss-fintech-awards-winners-share-updates-ambitions</link><guid>2825</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>2022 Swiss Fintech Awards Winners Share Updates, Ambitions</dc:text></item><item><title>Top 16 Upcoming Fintech Events Taking Place in Q4 2022 in the US</title><description><![CDATA[Home to more than 150 fintech unicorns, the US is a fintech powerhouse and one of the world’s biggest fintech ecosystems. Given the country’s leading position in the global fintech scene, a number of large-scale events and conferences are being held each year in the US.
As 2022 will be coming to an end in just a few months, we’ve compiled a list of the top fintech events and gatherings taking place in the US in September and Q4 2022.
Lend360
September 12-14, 2022
Marriott Downtown Magnificent Mile, Chicago, IL


Lend360 is an annual summit for the leaders in online lending that explores fintech industry trends and new technologies impacting consumer lenders, small business lenders, service partners, investors, bank representatives, and more.
The summit will provide participants with the opportunity to connect with the influencers shaping the fintech industry at a series of networking events, women-led panels and discussions, or through private meetings. Topics covered this year will include cryptocurrencies, business lending, embedded lending, fraud protection, and more.
Register here: https://www.lend360.org/
FinovateFall
September 12-14, 2022
The Marriott Marquis Times Square, New York City, NY


Informa Connect’s FinovateFall 2022 will be held at The Marriott Marquis Times Square in New York City from September 12-14. The event is expected to bring together more than a thousand C-suite leaders, senior executives and financial innovators who will attend and hear from over 100 industry veterans and new-age innovators on disruption in the financial sector.
This year’s event promises to offer unparalleled networking opportunities to engage directly with leading innovators, fintechs, platform players, financial institutions, regulators and investors through high-impact networking sessions and scheduled one-on-one meetings.
It will feature a star-studded line-up of keynote speakers, industry representatives, and several highly interactive panel discussions that will discuss topics such as financial inclusion, financial wellness and compliance. The event will also spotlight new fintech innovations through 60-plus demos.
Finovate Awards
September 13, 2022
The Edison Ballroom, New York City, NY


The annual Finovate Awards recognize the companies driving fintech innovation forward and the individuals bringing new ideas to life. Each year, the event crowns 25 winners in fields like consumer lending, digital banking, small and medium-sized enterprise (SME), ID management and more.
The third annual Finovate Awards ceremony will take place on September 13, during which this year’s winners will be revealed. 129 finalists including leading banks, fintech firms, accelerators, and individuals had been selected by a panel of 20 judges.
Digital Asset Summit 2022
September 13-14, 2022
The Glasshouse, New York City, NY


Blockworks’ Digital Asset Summit (DAS) is returning for its fourth year to The Glasshouse in New York City on September 13-14, 2022.
This year’s event is expected to bring together financial institutions, family offices, financial advisers, investment banks, crypto protocols, exchanges, hedge funds, prime brokers, venture capitalists (VCs) and other industry professionals to discuss how digital assets can evolve and be recognized as a macro asset.
DAS is an institutionally focused crypto conference for asset managers and financial services professionals. The 2022 edition will feature more than 100 speakers including:

Fidelity’s Director of Global Macro;
JPMorgan’s head of Onyx Digital Assets &amp; Blockchain Launch;
FTX’s Head of Ventures;
Morgan Stanley’s Head of Emerging Markets Equity;
State Street Digital’s Vice President;
Circle’s Vice President of Finance, Treasury and Corporate Development; and
dYdX’s Founder.

Topics covered during the two-day conference will include:

Crypto’s institutional lending market;
Institutional access to decentralized finance (DeFi);
Security and risk management;
Regulatory Uncertainty; and
The state of crypto market structure.

The event will also include fireside chats, panels and networking opportunities, including an exclusive dinner for VIP guests and speakers and an after-party open to all attendees.
Bank Automation Summit Fall 2022
September 18-20, 2022
Hyatt Olive 8, Seattle, WA


Bank Automation Summit Fall 2022 will take place at the Hyatt Olive 8 in Seattle on September 19-20. The summit will bring together industry experts to discuss banking automation and technology topics from using cloud development to embedded finance.
Participants will get to hear from speakers from leading companies such as US Bank, Citigroup, BMO, TD Bank, Mastercard, and many more. These industry leaders will cover topics such as facilitating citizen developers in banking, automation to detect and stop fraudulent transactions, new frontiers in open banking, and much more.
Insuretech Connect Vegas
September 20-22, 2022
Mandalay Bay, Las Vegas, NV


Insuretech Connect (ITC) Vegas claims to be the world’s largest insurtech event, offering unparalleled access to the most comprehensive and global gathering of tech entrepreneurs, investors, and insurance industry incumbents.
Over the course of three days, the industry will convene to showcase new innovations, learn how to increase productivity and reduce costs, and ultimately enrich the lives of policyholders. The superlative networking, with tens of thousands of meetings, will be one of the hallmarks of the ITC event.
This year’s event will feature world-class content, networking, meetings, a dynamic expo hall with the latest insurtech innovations, breakfast, lunch, a kick-off party, daily receptions, and a closing party with headline musical talent.
Boston Fintech Week
September 27-29, 2022
Boston, MA


This year’s Boston Fintech Week will debate ways to build a financial future that is relevant and adaptable, fair and inclusive. Speakers will explore the ways fintech is blurring the distinction between financial services and other industries, debate questions related to the risks and opportunities, delve into the next phases of fintech, and tackle the seismic shifts happening in our industry and their future implications.
Confirmed speakers this year include top executives representing organizations such as the North Atlantic Treaty Organization (NATO), FT Partners, the Federal Reserve Bank of Boston, EY, Cornerstone Advisors, and Fidelity Investments.
Small Biz Banking
October 03-04, 2022
JW Marriott, Nashville, TN


Small Biz Banking returns in person in Nashville, Tennessee on October 3-4, 2022. This is the essential event for banking industry leaders who are focused on the biggest challenges and opportunities that come with serving small businesses, including credit risk, client engagement, the consolidation of business-to-business (B2B) spending tools, prioritizing digital offerings and so much more.
This year’s event will cover topics such as digital banking, financing solutions, SME accounting, and more. Confirmed speakers include executives representing the likes of Intuit, Personetics, Adyen, LexisNexis and Wells Fargo.
Fintech Gala 2022
October 06, 2022
San Francisco City Hall, San Francisco, CA


The inaugural Fintech Gala 2022 will take place on October 06, 2022 at the San Francisco City Hall, bringing together the fintech community to discuss topics such as fintech funding, cyber and financial rimes, cryptocurrencies, and more.
The evening will feature:

State of the industry addresses by leaders in the financial services industry;
High-value, professional networking;
Food and drinks; and
Limited participation with only 475 passes available.

State of the industry addresses:

State of Fintech Funding, by Sheel Mohnot, Co-founder and GP, Better Tomorrow Ventures
State of Cyber and Financial Crimes, by Bryan P. Smith, Section Chief, Criminal Cyber Operations Section, FBI
State of Crypto, by Denelle Dixon, CEO and Executive Director, Stellar Development Foundation
State of Payments, by Wade Arnold, CEO, Moov Financial

Chief Data and Analytics Officers Fall 2022
October 10-12, 2022
Westin Copley, Boston, MA


The Chief Data and Analytics Officers (CDAO) Fall, the premier conference for data and analytics leaders in North America, will take place on October 10-12, 2022 in Boston, MA.
Exclusively designed for the cutting-edge data and analytics leader, CDAO Fall focuses on aligning data strategy with digital transformation, leveraging data analytics to increase business value, and spearheading a data-driven culture that utilizes data as an engine for growth.
New this year is a personalized learning and networking track for data and analytics executives serving the financial services industry. Participants will get to hear from more than 80 speakers representing organizations such as Visa, CNN, EBay, Verizon and PayPal who will discuss the use of data and analytics in financial services, insurance, e-commerce and retail, and healthcare.
Digital Transformation in Banking Summit (Americas)
October 13, 2022
New York


The first annual Digital Transformation in Banking (Americas) Summit will take place in New York on October 13, 2022, and will bring together 25 thought-provoking speakers who will tackle some of the industry’s most pressing issues and hottest trends.
The event will feature dedicated keynotes and sessions, and discussions on some of the most topical themes, including digital transformation, the future of wealth management, ethical AI, cloud computing, payment transformation and more.
Confirmed speakers include to executives from Scotiabank, JP Morgan, BNY Mellon, Credit Suisse, and Wells Fargo.
Real-Time Payments and Cybersecurity Summit (USA)
October 14, 2022
New York


The 2022 Real-Time Payments and Cybersecurity Summit (USA) will take place live in New York on October 14, providing a platform for industry stakeholders to obtain updates on how real-time payments are transforming the US banking landscape, requests to pay, cybersecurity and fighting payments risks globally, common challenges, implementation strategies, use cases, lessons, and much more.
Participants will get to learn more about the current state of play in real-time payments in the US, gain in-depth guidance from expert speakers on fine-tuning their real time payments journey and the industry best practices, and obtain practical perspectives from many real-world use-cases shared by the market’s top players, including early adopters and leaders from across the region.
Money20/20 USA
October 23-26, 2022
The Venetian Resort and Hotel, Las Vegas, NV


Money20/20 USA’s 2022 edition will take place from October 23 to 26 at the Venetian Las Vegas. This year’s event will focus on stories told through four distinct lenses – vulnerability, defense and offense, chain reactions, and experiences – and will feature 300+ speakers and moderators from a broad cross-section of companies, ranging from established fintech, banking, payments, and tech titans to scrappy startups. Topics covered will include Web3.0, cannabis banking, embedded fintech, data-driven transformation, real-time fraud protection, and more.
Money 20/20 USA is one of the largest global events focusing on payments and financial services innovation. Last year’s event brought together more than 8,000 attendees from 2,800+ companies.
Get your tickets here: https://www.money2020.com/
The Financial Brand Forum 2022
November 13-16, 2022
Aria Hotel and Resort, Las Vegas, NV


The Financial Brand Forum is the one of the world’s most elite conference on marketing, customer experience (CX), data analytics and digital transformation in banking. The event is built exclusively for senior-level executives working in the financial industry, with a specific emphasis on those in marketing roles at retail banks and credit unions based in North America.
This year’s event is specifically engineered to help financial institutions tackle the biggest challenges in retail banking, with dozens of strategy sessions and how-to presentations. Participants will get to learn from the best and brightest in retail banking, as they reveal the latest trends, new innovations and advanced techniques that are transforming the financial industry today.
The event is set to bring together more than 2,500 people from 900+ of the most progressive and respected financial institutions from around the world.
Register here: https://financialbrandforum.com/
FTT Embedded Finance and Super-Apps North America
December 01, 2022
Grand Hyatt at SFO, San Francisco, CA


What does it mean when financial services are provided outside traditional financial institutions? Who benefits from embedding those products and services in new channels? Are super-apps the new must have?
With a growing ecosystem of distributors, it is crucial to understand the opportunity and prepare for change.
At the FTT Embedded Finance and Super-Apps North America event, on December 01, 2022, participants will get to learn from those at the forefront of developing embedded finance strategies, hear about the technologies enabling a direct connection between non-financial institutions and end users, and make sense of emerging trends like payment-as-a-service (PaaS), banking-as-a-service (BaaS), infrastructure-as-a-service (IaaS), open finance and APIs.
Fintech Nexus LatAm 2022
December 13-14, 2022
JW Marriott Marquis Miami, FL


Fintech Nexus LatAm is a leading annual conference dedicated to Latin America’s fintech ecosystem. This year’s event is expected to bring together 1,000+ banks, fintech companies and investors that are transforming LatAm’s lending and banking industries.
The event will feature 65+ speakers who will cover themes such as:

The acceleration of digital banking and inclusion;
Web3, crypto and DeFi burst onto the scene;
Lending reaches the masses; and
Fintech in 2027.

See more details and register here: https://www.fintechnexus.com/latam/2022/

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/top-16-upcoming-fintech-events-taking-place-in-q4-2022-in-the-us</link><guid>2824</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/09/Lend360.png?x30842</dc:content ><dc:text>Top 16 Upcoming Fintech Events Taking Place in Q4 2022 in the US</dc:text></item><item><title>Press Communication in the Metaverse: Rent a PR Cooperates With Zreality</title><description><![CDATA[Access to the metaverse is complex and expensive, which is why it is so far used almost exclusively by large companies. The Zurich and Verbier-based PR agency Rent a PR, which has been providing on-demand public relations and communications consulting for five years and has been accepting Bitcoin payments since 2019, is setting another milestone with cooperation and press conferences in the metaverse.
The new service covers all the processes companies use to contact their various stakeholders. From press conferences and product presentations to general meetings, what was previously done in person is now also possible in the metaverse.
Brigitte Kaps
‘I am very pleased that we are partnering with Zreality and look forward to working with the professional, international team in the future,’
says Brigitte Kaps, CEO &amp; founder of Rent a PR.


The technology partner Zreality is a German company specialising in events, communication, and collaboration in virtual space.
Michael Neidhöfer
‘The metaverse is not just a trend: it has been used productively by companies in the form of virtual and augmented reality solutions in many fields of application such as sales and training for some time. Press conferences are now an additional exciting way for companies to engage with the market,’
says Michael Neidhöfer, CEO &amp; co-founder of Zreality.
‘We are very much looking forward to working with Rent a PR as a pioneer in this field.’
Press conferences: more efficient, larger target group, more sustainable – and timeless
Press conferences held in the metaverse have numerous benefits, both for companies and participants.
‘The fact that many companies find it hard to get journalists to attend their press conferences is partly due to a large amount of time it takes,’
says Kaps. There is no need to travel to and from press conferences in the metaverse. Interested parties can log in and participate in the event via avatar, regardless of where they are, even without using virtual reality glasses. It is also possible to record the event so that it can be attended at a later point in time. And, of course, there are no limits to the number of attendees in virtual space. The potential of the brand or a product can be experienced at first-hand.
Tailor-made PR Advisory on demand instead of expensive monthly retainers
As always with Rent a PR, businesses also only pay for what they need with the new service. The tailor-made offers, available either as packages or subscriptions, enable start-ups and SMEs to keep the costs and time investment required within manageable limits, says Kaps.
‘In cooperation with Zreality, our service enables companies to take their first steps in the metaverse and spark the interest of international journalists.’
]]></description><link>https://fintechnews.eu/press-communication-in-the-metaverse-rent-a-pr-cooperates-with-zreality</link><guid>2823</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Press Communication in the Metaverse: Rent a PR Cooperates With Zreality</dc:text></item><item><title>FNZ Group to Acquire German Wealthtech Specialist Diamos</title><description><![CDATA[London based Wealth management platform FNZ announced that it has agreed to acquire investment management solutions provider DIAMOS AG to bolster FNZ’s client proposition in the German market.
DIAMOS will also provide FNZ with its technology expertise in fund administration and alternative investments, along with domain expertise across the value chain, especially in Germany, Austria, Switzerland, Liechtenstein, and Luxembourg.
The acquisition of DIAMOS, subject to approvals, represents a further investment by FNZ into Europe. The company previously acquired Swiss wealthtech New Access in July.


FNZ will employ more than 1,000 people across the DACH region and over 5,000 globally upon completion.
Adrian Durham
Adrian Durham, Group CEO of FNZ, said:
“The acquisition of DIAMOS reflects our continued focus on enhancing our client proposition, while bringing our innovative approach and investment to DIAMOS’ strong client base.”
Wilhelm Velten
Wilhelm Velten, Owner &amp; CEO, DIAMOS, added:
“In partnership, we will now accelerate the growth trajectory that DIAMOS has achieved by leveraging the strength and global expertise of the FNZ team.”

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/fnz-group-to-acquire-german-wealthtech-specialist-diamos</link><guid>2822</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>FNZ Group to Acquire German Wealthtech Specialist Diamos</dc:text></item><item><title>Stableton Strengthens Executive Management Team</title><description><![CDATA[Alternative investment platform Stableton announced the promotion of Roman Loosli, Freddie Cunningham and Christian Schmid to the firm’s executive management team.
The move also sees the promotion of Roman Loosli from Head of Data &amp; Solution Architecture to Chief Technology Officer, and the promotion of Freddie Cunningham from Head of Sales to Chief Commercial Officer.
Christian Schmid continues to oversee Stableton’s investment activities as Head of Investments with a particular focus on privately-held growth companies.


The appointments further strengthen and broaden Stableton’s management and expansion capabilities after its successful CHF 15 million Series A funding round, announced in July and led by TX Group’s TX Ventures.
Pictured: Christian Schmid (top), Freddie Cunningham (left), Roman Loosli (right)
]]></description><link>https://fintechnews.eu/stableton-strengthens-executive-management-team</link><guid>2821</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Stableton Strengthens Executive Management Team</dc:text></item><item><title>Crypto Financial Product Provider 21.co Raises US$25M at Unicorn Valuation</title><description><![CDATA[Crypto solutions provider 21.co has raised a US$25 million round led by Marshall Wace at a US$2 billion valuation, making it Switzerland’s largest crypto unicorn.
The round, which included investors, such as Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners was the company’s first raise in over two years.
21.co is a collection of companies, the largest of which is cryptocurrency exchange-traded products (ETPs) issuer 21Shares. The platform is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties such as token provider Amun.


The company claims that it has recorded over US$650 million in net new assets year-to-date from September 2021 to September 2022, and that it hit its peak AUM at US$3 billion in November 2021.
Hany Rashwan
“My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible. Now, we’re (one) the highest valued and largest tech startup in Switzerland – and we’re still only in the early days,”
explained Hany Rashwan, CEO and Co-Founder at 21.co.

]]></description><link>https://fintechnews.eu/crypto-financial-product-provider-21co-raises-us25m-at-unicorn-valuation</link><guid>2820</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Crypto Financial Product Provider 21.co Raises US$25M at Unicorn Valuation</dc:text></item><item><title>8 Climate Fintech Startups from Europe to Watch</title><description><![CDATA[Driven by a supportive policy context and the multitude of initiatives introduced by governments across the region, Europe is rising to leadership in the field of climate fintech, being home to four times as many climate fintech companies compared to the US, data from Commerz Ventures show.
This emerging sector, which encompasses companies that provides tracking and analysis of emissions, impact investing, environment, social and governance (ESG) data and reporting, supply chain analytics, and more, has recorded strong growth over the past couple of years, fueled by rising investors’ interest and booming adoption from consumers.
In 2021, climate fintech startups raised a total of US$1.2 billion, a figure that’s three times higher than all previous years combined, according to Commerz Ventures, with European climate fintech startups secured more VC funding than any other region.


To get a sense of Europe’s booming climate fintech sector, we look today at eight fast-growing startups in the region. These have witnessed notable growth over the past year and has secured significant funding from prominent investors.
Deepki (France)

Founded in 2014, Deepki has developed a software-as-a-service (SaaS) solution that uses data intelligence to help commercial real estate investors, owners and managers improve the ESG performance of their real estate assets. The solution enables customers to collect ESG data, overview their ESG performance, establish investment plans to reach net zero, and assess results. It also allows users to report to key stakeholders.
Headquartered in France, Deepki operates in 38 countries, with team members across offices in Paris, London, Berlin, Milan and Madrid. The company serves clients such as Generali Real Estate, Allianz Real Estate, SwissLife Asset Managers and the French government.
Deepki closed a EUR 150 million Series C in March 2022 which it said it would use to hire new employees, establish and grow its business in the US, and carry out strategic acquisitions. In June, it acquired Fabriq, a UK-based competitor that boasts 40 clients across real estate owners and asset managers.
Descartes Underwriting (France)

Founded in 2018, Descartes Underwriting is a Paris-headquartered insurtech company offering technology-driven parametric insurance and innovative insurance policies to protect companies and governments against natural catastrophes, extreme weather and emerging risks.
Descartes Underwriting applies new technologies such as image recognition or machine learning (ML) combined with new generations of data sources, coming from satellites or the Internet-of-Things (IoT), to assess and manage natural catastrophes and emerging risks.
This makes its products fairer, since all pricing and underwriting is based on advanced data, faster and more accurate at paying claims.
The company is structured as an underwriting agent, underwriting risks on behalf of tier-one (re)insurers and insurance-linked securities funds.
Descartes Underwriting has raised US$141.5 million in funding, its latest round being a US$120 million Series B closed in January 2022. The company said it would use the proceeds to scale its approach to corporate and public entity risk exposures, growing its technology platform, expanding into new lines of business, targeting larger deals, and continuing its global expansion.
Sweep (France)

Founded in 2020 and headquartered in France, Sweep is the all-in-one carbon tool that helps large enterprises build a science-based and data-driven climate program. The platform enables businesses to track and act on their carbon, making it easy to measure emissions at scale, set smart reduction goals, and contribute to cutting-edge carbon projects.
Sweep applies a network approach to carbon accounting, which allows every carbon-emitting individual, including employees, subsidiaries, suppliers and business partners, to share their data and visualize how their activities are making a difference. Sweep also offers a carbon marketplace which allows companies to couple their reduction efforts with investments and participation in carbon positive projects. The company works with multinationals like Saint Gobain and JCDecaux.
Sweep closed a US$73 million Series B in April 2022, bringing the total of funding raised over the prior year to US$100 million. The company said at the time that it would use the proceeds to scale its platform’s capacity.
Cushon (London)

Founded in 2014 and headquartered in London, Cushon is a workplace savings business that uses technology to bring innovation to workplace savings and pensions and help people get comfortable with saving and investing.
Employers use Cushon’s workplace savings platform to enhance the financial wellbeing of their workforce by providing them with a simple and convenient way to save as little as GBP 10 per month direct from pay.
A company with a strong ESG focus, Cushon launched last year the world’s first net zero pension, enabling employers to help their people contribute to the deceleration of climate change quickly, easily and meaningfully.
In January 2022, it closed a GBP 35 million round which it said it would use to develop its app and beef up its operations. It recently acquired Creative, which manages the Creative Pension Trust, an auto-enrolment pension scheme. The acquisition marked Cushon’s third purchase in two years, and has enabled the company to “double the reach” of its app-first climate-friendly pension.
Cushon claims it is the fifth largest master trust pension provider in the UK with GBP 1.7 billion of assets under management (AUM) across 400,000 customers.
Twig (London)

Founded in 2020, Twig is a London-based new generation fintech, rooted in circular economy principles. Its central mission is to empower consumers to value, unlock, and enjoy wealth they never knew they had.
Twig allows users to offload unwanted items for instant cash, and offset their carbon to plan trees. In addition, users also have access to a set of traditional banking service, including domestic and international bank transfers, and a Visa debit card.
Twig claims it is the fastest-growing fintech app in the UK since its launch in July 2021, growing at a rate of over 100,000 monthly downloads. The startup closed a US$35 million Series A in January 2022 to develop a Web 3.0 green payment infrastructure, and boost the rollout of its current suite of financial products. It also has imminent expansion plans in the US and the European Union (EU).
Sylvera (London)

Founded in 2020 and headquartered in London, Sylvera is the developer of ML-based tools designed to track the performance of carbon offsets. The company leverages proprietary data and ML technology to produce the most comprehensive and accessible insights and market intelligence on carbon projects, which are delivered through an online platform.
Sylvera is also partnering with leading researchers at UCLA, NASA’s Jet Propulsion Lab, and University College London to expand its proprietary methods for evaluating carbon performance.
Sylvera serves corporate sustainability leaders, carbon traders and policymakers. The company closed US$36.4 million in a Series A funding round, bringing its total funding to US$39.5 million.
Doconomy (Sweden)

Founded in 2018 and headquartered in Sweden, Doconomy is a leading provider of applied impact solutions. The company provides digital tools and services intended to empower banks, brands, and consumers to measure, understand, and reduce the environmental impact linked to consumption.
Doconomy’s impact calculation methodology calculates the carbon impact of every single financial transaction, product, lifestyle and corporation, allowing consumers to visualize their impact, receive insights to reduce consumption and be rewarded financially with refunds and other incentives.
Doconomy’s consumer solution is called Do and is a mobile banking service that enable users to understand the impact of their daily choices. Its enterprise service, called Åland Index, is a cloud-based service for CO2 emission calculations for payments and financial transactions with over 1 000 000 users and growing.
Doconomy closed a US$19 million round in January 2022 to help accelerate expansion and the recruitment of new talent.
Tomorrow (Germany)

Founded in 2018, Tomorrow is a German-based sustainable mobile banking platform that helps users manage their finances while reducing their carbon footprint. Tomorrow also invests in community-development initiatives all over the world.
Tomorrow currently offers a current account, sub accounts, shared accounts, a free Visa debit card, cash withdrawals and deposits, as well as personal financial management tools, and more.
Unlike conventional banks, which use customers’ money to invest massively in coal power, weapons and other damaging industries, Tomorrow customers’ funds are used to support sustainable projects and invest in sustainable industries.
Tomorrow is not a bank per se but is partnered with Berlin-based technology company Solarisbank, which holds a full banking license. The startup claims more than 90,000 customers, and has raised more than US$28 million in funding, according to data from Dealroom.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/8-climate-fintech-startups-from-europe-to-watch</link><guid>2819</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>8 Climate Fintech Startups from Europe to Watch</dc:text></item><item><title>The Top 7 Swiss Fintech and Proptech Scale-up Startups in 2022</title><description><![CDATA[5 fintech and 2 proptech scale-ups made this year’s TOP 25 Swiss Scale-ups Awards organized by Venturelab with Credit Suisse and the Swiss Venture Club.
The scale-ups ranking was created to recognise Swiss companies aged five to 10 years who are no longer eligible to compete in the TOP 100 Swiss Startup Award which is limited to startups under five years of incorporation.
On top of that 13 fintech startups made it into their regular ranking, one of them even in the first place.


Meet the fintechs and proptechs on the TOP 25 Swiss Scale-ups 2022 list:

AlgoTrader (fintech)

AlgoTrader provides algorithmic trading and execution infrastructure for digital and traditional assets.
The company’s offering includes a digital asset trading platform for banks and brokers, a quantitative trading solution with automated trade signal generation and order execution, and an order and execution management system for buy-side institutions with managed connectivity to over 400 liquidity venues.

Bitcoin Suisse (fintech)

Founded in 2013, Bitcoin Suisse is a regulated Swiss financial intermediary, offering prime brokerage, trading, custody, lending, staking and other crypto-financial services for private and institutionalclients.
The company has offices in Zug, Copenhagen, and Liechtenstein, and is undergoing licensing as a Swiss and Liechtenstein bank.

Sonect (fintech)

Through Sonect, every cash register can become an ATM, and with the Sonect-App, cash can be withdrawn directly in over 2300 Sonect shops.
Sonect was founded in 2016 and employs 30 people in Zurich, Vilnius, and Mexico City. The company is in the midst of its European and Mexican expansion.

TP24 (fintech)

TP24 is a data-driven lender with offices in Switzerland, Australia, the UK and Netherlands.

wefox (fintech)

wefox is an insurtech start-up founded in 2014 that has has collected insurance premiums worth over CHF 11 million. The company employs over 70 people and is based in Berlin, Zurich and Barcelona.

PriceHubble (proptech)

PriceHubble is a real estate data company providing property valuations and market insights to banks, asset managers, developers, property managers and real estate agents.
The company is active in 9 countries (Switzerland, France, Germany, Austria, Japan, Netherlands, Belgium, Czech Republic and Slovakia) and employs more than 180 people.

Locatee (proptech)

Locatee is a workplace analytics solution that processes and visualises office occupancy data from multiple sources in one place.

]]></description><link>https://fintechnews.eu/the-top-7-swiss-fintech-and-proptech-scale-up-startups-in-2022</link><guid>2817</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>The Top 7 Swiss Fintech and Proptech Scale-up Startups in 2022</dc:text></item><item><title>The Top 13 Fintech and Proptech Startups in Switzerland in 2022</title><description><![CDATA[Ten fintech and three proptech startups made the 12th edition of the TOP 100 Swiss Startup Awards organized by Venturelab with Credit Suisse and the Swiss Venture Club.
The 2022 ranking features 40 new nominees, as well as a fintech startup in first place for the first time since the ranking’s creation.
Of the 13 fintechs and proptechs, seven were repeats from the 2021 startup ranking while one company – Sonect – graduated to this year’s scale-up ranking.


Meet the fintechs and proptechs that made the TOP 100 Swiss Startups 2022 list:


#1 — Yokoy (fintech)

Yokoy (formerly: Expense Robot) uses artificial intelligence to automate the corporate spend and corporate credit card process.
Founded in 2019 by five founders, Yokoy now has over 500 customers including companies such as Stadler Rail, On Running, Bobst, Zühlke and BDO.
The company acquired competitor product FlowExpense in October 2020 and started its expansion into the DACH market with the opening of an office in Vienna in November the same year.
In June 2021, Yokoy expanded its software offering from an expense tool to a comprehensive automation of the entire spend management process. It also opened an office in Munich.
Yokoy was ranked 20th on the 2021 TOP 100 list.

#3 — Ledgy (fintech)

Ledgy is an equity management platform that helps companies manage their cap table, employee participation plans, funding rounds, and investor relations.
The platform is used by companies such as Raisin, wefox, Frontify, Codility, Utopia, and others to democratize startup equity by turning employees into owners.

#17 — Inyova (fintech)

Inyova is a digital platform for investing with a sustainability impact.

#20 — Sygnum Bank (fintech)

Sygnum is a digital asset bank that empowers institutional investors to invest in the digital asset economy. The company holds a Swiss banking licence and a capital markets services licence in Singapore, and operates globally.

#23 — Neon Switzerland (fintech)

neon provides an account, app and card for receiving, transferring, and putting money aside. The neon Mastercard has been named the cheapest credit card abroad by Kassensturz, among other awards.

#27 — Imburse (fintech)

Imburse is a cloud-based middleware connecting large enterprises to the payments ecosystem, regardless of their existing IT infrastructure. Through a single connection to Imburse, enterprises can collect or pay-out using a variety of payment technologies and providers around the globe.

#30 — Relai (fintech)

Relai is a bitcoin-only investment app which enables anyone in Europe to buy and sell bitcoin within minutes, without the need for registration, verification, or deposits.
The Relai app in numbers: 100’000+ App Downloads; 40+ different countries in Europe; 30’000+ active (paying) users; CHF 6M+ monthly volume.

#50 — Alpian (fintech)

Alpian unifies everyday banking with accessible investment and private banking services in a mobile app. The company received a Swiss banking license in September 2022 and will launch its products and services to the public in the third quarter of the year.

#61 — Leva (fintech)

Leva is a FundTech (fundraising technology) company, developing cloud-based solutions to help projects and investors raise funds. Users can manage all stakeholders through one dashboard and generate all the required legal documentation to compliantly pool investors to reduce governance complexities.

#75 — Urbio (proptech)

Urbio is a SaaS platform that accelerates the transition of utilities to clean energy. The company automates the design of new energy assets like solar or district heating with 90% time savings to better inform investment decisions.

#93 — Impaakt (fintech)

Impaakt uses collective intelligence to produce research and assessments of the social and environmental impact of companies.

#86 — LEDCity (proptech)

LEDCity’s smart plug and play lighting system reduces energy consumption by 90 percent by controlling the light autonomously and dynamically. Their LED lamps  can also reduce energy, installation and maintenance costs, and collect useful data.

#95 — Oxygen at Work (proptech)

Oxygen at Work uses a combination of natural plants, sensor technology and big data to improve indoor air quality and achieve energy consumption efficiency in office spaces.

]]></description><link>https://fintechnews.eu/the-top-13-fintech-and-proptech-startups-in-switzerland-in-2022</link><guid>2818</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>The Top 13 Fintech and Proptech Startups in Switzerland in 2022</dc:text></item><item><title>Financial Crimes in the Metaverse</title><description><![CDATA[Business executives are bullish on the prospect of the metaverse, predicting sizeable commercial opportunities in taking part in immersive virtual environments. But despite the high level of interest, industry stakeholders are also growing increasingly concerned over the possible risks brought about the concept.
Blockchain analytics and crypto-asset compliance solutions provider Elliptic conducted an online survey of 100 of its customers and crypto and finance professionals in May 2022. It found that at least 66% of respondents were already in the process of, or had an intention to assess their risk of metaverse-related financial crime vectors, showcasing that business executives are recognizing that the trend might introduce new risks that must be mitigated.
To help stakeholders and decision-makers better understand these risks, Elliptic has released a new guide, delving into the seven main types of financial crimes using metaverse-related crypto-assets it has observed, and which it believes organizations must be wary of.


The Future of Financial Crime in the Metaverse, Elliptic
Money laundering
Unlike in the real world, purchasing land in the metaverse at the moment can be done with little more than a crypto-asset address and funds, and doesn’t require any know-your-customer (KYC) check. This makes metaverse-related crypto-assets an interesting option for money launderers, the report says.
An illicit actor looking to launder funds through metaverse land could purchase plots or developed estates and re-sell through a secondary market or directly to another actor.
Booming trading activity and sales volumes will continue to make the metaverse an attractive liquidity venue for criminals looking to launder large sums of illicit funds and assets. In 2021, total sales of all crypto-assets across Decentraland, Cryptovoxels, The Sandbox and Somnium Space surpassed US$500 million, a sum which is projected to double this year.
Wash trading
Wash trading, a form of market manipulation to create misleading and artificial activity, has been observed across crypto markets for a number of years, with many exchanges, including US-based Gemini and Canadian exchange Coinsquare, having been accused of inflating their volumes.
With the practice running rampant in crypto markets, Ellipic believes it could become a popular avenue for illicit actors in the metaverse that are either looking to bolster market sentiment of native metaverse assets or to try to secure a higher sale price for wearable and land sales.
A research by blockchain analysis firm Chainalysis found that 110 non-fungible tokens (NFT) wash traders collectively made about US$8.9 million profit in 2021.
Scams
Soaring crypto trading activity, coupled with limited education on the risks involved in dealing with crypto-assets, has led to a steady stream of scams. These scams range from rug pulls, where projects raise capital and then disappear, and investment scams, which promise unrealistic returns, to giveaway scams, where users are falsely promised a multiplied return if they send funds to an address.
According to Chainalysis, over US$14 billion worth of crypto-assets were stolen due to scams in 2021.
The Chainalysis 2022 Crypto Crime Report
Elliptic says it has already identified a number of metaverse-related transactions in SAND and MANA, the tokens that power The Sandbox and Decentraland, respectively, with connections to scammers and phishing attempts. Though figures remain small at this point in time, it could swell considerably as the metaverse grows across both the crypto and non-crypto communities, the company predicts.
Sanctions and terrorism funding
Concerns about cryptocurrencies being used to help nation states and bad actors evade sanctions or fund terrorism have been around since the very beginning, and these risks are now extending to metaverse-related crypto-assets as the concept picks up.
Sanctioned actors and those linked to terrorism could use metaverse-related assets to raise funding, or evade sanctions, Elliptic says. They may also look to purchase land in the metaverse in order to store or transfer illicit wealth.
Code exploits
Many of the metaverses in existence rely on a complex web of smart contracts that govern the interactions between these platforms’ native crypto-tokens and the services available in those virtual environments.
Like in any other crypto-related segment, hackers will look to exploit poorly-constructed contracts or weaknesses in metaverses in order to steal funds.
Several code exploits in metaverse-related projects have already occurred. Yearn Finance, for example, suffered an exploit last year that resulted in the loss of US$11 million worth of cryptocurrencies.
Illegal shops and services
Many organizations are establishing presences in the metaverse, launching virtual stores to showcase their products and allow consumers to shop. Automaker Hyundai partnered with Roblox to launch Mobility Adventure, a metaverse space where users can purchase Hyundai Motor’s products and future mobility solutions. Nike has a space in Roblox called Nikeland where users can try on virtual products and play sports.
However, where early adopters are primarily using the metaverse as a new commerce channel and marketing tool, bad actors in the space may look to take advantage of the lack of a real-world geographic location that the metaverse has to offer to sell illicit goods and services, Elliptic warns.
Sex-related crimes
Finally, the seventh and last types of financial crimes highlighted by Elliptic is sex-related crimes.
While there may be many instances of ethical sex practices within the metaverse and opportunities for sex-based businesses, concerns about how virtual environments could be used for more sinister content such as child sexual abuse materials (CSAM), revenge porn and sexual harassment do exist.
Cases of children being abused directly in the metaverse have already been reported. In South Korea, the national police disclosed last year that an adult allegedly induced a minor to send revealing photos in exchange for in-game items. The adult then used the photos to create sexually exploitative content, said the police.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/financial-crimes-in-the-metaverse</link><guid>2816</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Financial Crimes in the Metaverse</dc:text></item><item><title>Golden Visas: Portugal vs Dubai</title><description><![CDATA[More than 20 countries around the world have introduced investor visa programs, providing wealthy people with a residency permit or, in some cases, even citizenship in return for a substantial investment.
Also known as “golden visas,” these programs offer the opportunity for rich investors to essentially buy the right to residency in a country, avoiding them the need to fulfil the same conditions as regular applicants, such as residency requirements or knowledge of the language.
In the European Union (EU), these programs have risen in popularity as people look to move away from political decisions like Brexit, embrace remote working and seek better living conditions. Passporting firm Get Golden Visa predicts that 2022 will be “its busiest year yet,” noting that there’s been a “golden visa frenzy” amongst Americans this year.


image credit:Unsplash
Portugal’s golden visa
At least half of the EU’s Member States currently provide golden visas, or some form of it in their national legislation, but it is the Portuguese program has been amongst the most popular options.
Launched a decade ago, Portugal’s golden visa allows wealthy individuals to benefit from the country’s mild weather, laid-back and affordable lifestyle, and access to the whole European Union (EU) – all starting from EUR 250,000 in investment.
It’s a relatively affordable investment option with few requirements. Holders only need to spend a minimum of seven days in Portugal in the first year, and 14 days in the subsequent years. They can become a Portuguese citizen within five to six years, sponsor their family members, and travel across the EU area without the need of a visa.
There are also some tax benefits. Visa holders don’t have any tax responsibility unless they spend more than 183 days of the year in the country, which would ultimately make them tax residents.
For foreigners considering relocating to Portugal and becoming tax residents, the non-habitual residency (NHR) program offers certain exemptions from income tax for the first ten years of residence.
Applicants can opt for one of the following routes to get a golden visa from Portugal:

Transfer capital with a value equal to or above EUR 1.5 million;
Create at least ten job positions;
Purchase real estate property in specific locations with a value equal to or above EUR 500,000;
Purchase a real estate property in specific locations for refurbishing for a total value equal to or above EUR 350,000;
Transfer capital with a value equal to or above EUR 500,000 for investing in research activities;
Transfer capital with a value equal to or above EUR 250,000 for investing in approved artistic or cultural heritage initiatives, or to support the public sector;
Transfer capital of EUR 500,000 or above for the acquisition of units of investment funds or venture capital fund of funds; or
Transfer capital of EUR 500,000 or above toward a business headquartered in Portugal, combined with the creation of five permanent working jobs.

Eligible applicants must be at least 18 years old and hold a clean criminal record from your home country, as well as from Portugal. The funds must come from outside of the country. Portuguese, EU and EEE nationals are not eligible for the golden visa scheme.
Since 2012, about 10,000 investments visas have been issued by Portugal, showcasing the popularity of the program.
UAE’s Golden Visa and new favorable rules
A more recent program that has nevertheless gained notable traction is the United Arab Emirates (UAE)’s Golden Visa, a long-term residence visa which enables foreign talents to live, and work or study in the country.
The UAE first started granting five and ten-year-renewable visas to certain foreign investors, entrepreneurs, chief executives, scientists and outstanding students in 2019. But throughout the years, regulators have consistently extended these schemes to cover more categories and provide greater flexibility.
This year, a new set of executive regulations regarding entry permits and long-term residence will officially be enforced in September, further expanding the categories of applicants eligible to the scheme and providing more advantages.
Under the new rules, the UAE Golden Visa will grant ten-year residence to investors, entrepreneurs, exceptional talents, scientists, professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who meet certain eligibility parameters.
Visa holders will be able to able to sponsor their family members including spouse and children regardless of their age, as well as domestic helpers. Family members will be allowed to stay in the UAE until the end of the permit duration, even if the primary holder of the Golden Visa passes away. The new rules also remove the restriction related to the maximum duration of stay outside of the UAE.
Real estate investors will be able to obtain a Golden Visa if they either purchase a property worth no less than AED 2 million (US$545,000), purchase a property with a loan from specific local banks, or buy at least one off-plan property worth no less than AED 2 million (US$545,000) from an approved local real estate company.
For entrepreneurs and startup owners, they must either own or be a partner in a startup registered in the UAE that generates annual revenues of at least AED 1 million (US$272,000); obtain an approval for a startup idea from an official business incubator or a competent authority, or have founded an entrepreneurial project that was sold for a total amount of at least AED 7 million (US$1.9 million).
Professionals in all disciplines, including medicine, sciences and engineering, information technology, and education, will also be eligible, provided that they have a valid employment contract in the UAE, are classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification, have at least a bachelor’s degree or equivalent, and have a monthly salary of at least AED 30,000 (US$8,200).
For scientists and researchers, they must have at least a PhD or a Master’s degree in one of the disciplines of engineering, technology, life sciences and natural sciences from “the best universities in the world” and have “substantial research achievements.”
Inventors, innovators, and “exceptional talents” in fields such as culture, art, sports and digital technology will be able to obtain a Golden Visa upon recommendation or approval from a federal or local government entity.
High performing students in UAE secondary schools and universities, as well as from the “best 100 universities worldwide” will also be eligible, alongside “humanitarian pioneers,” and “frontline heroes.”

Featured image credit: Edited from Pexels
]]></description><link>https://fintechnews.eu/golden-visas-portugal-vs-dubai</link><guid>2814</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Golden Visas: Portugal vs Dubai</dc:text></item><item><title>Alpian Partners With Visa to Issue a Metal Debit Card in Switzerland</title><description><![CDATA[Digital private bank Alpian announced that it is now a Principal Member of Visa, allowing the company to issue its exclusive metal debit card in Switzerland.
The pairing of the metal debit card with a multi-currency current account (CHF, EUR, GBP and USD) and real-time foreign exchange capabilities with no handling fees gives Alpian clients a cost-effective way to facilitate their everyday banking needs.
As a member of the Visa network, Alpian’s debit card is accepted in over 200 countries and regions and at more than 100 million merchant locations worldwide.


The official initiation of the partnership follows the granting of a full Swiss banking license from FINMA and the successful completion of a Series B+ financing round of CHF 19 million.
Both milestones have enabled Alpian to launch its services to select members of its waitlist, with a launch to the general public of Switzerland planned before the end of 2022.
Schuyler Weiss
Schuyler Weiss, CEO of Alpian commented,
“The capabilities, sophistication, and stability of the Visa enterprise enables Alpian to deliver just that in its card offering.

Visa has been one of Alpian’s most long-standing and trusted partners, and we are excited to take our next steps with them by our side.”
Santosh Ritter
Santosh Ritter, Country Manager Switzerland &amp; Liechtenstein, Visa stated,
“We are very much looking forward to see the first Alpian-issued Visa debit cards in the Swiss market and to continue helping them in providing innovative services for all regions of Switzerland.”
]]></description><link>https://fintechnews.eu/alpian-partners-with-visa-to-issue-a-metal-debit-card-in-switzerland</link><guid>2812</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Alpian Partners With Visa to Issue a Metal Debit Card in Switzerland</dc:text></item><item><title>Dominican Republic Sees the Rise of a Thriving Fintech Sector</title><description><![CDATA[In the Caribbean, the Dominican Republic is seeing the emergence of a burgeoning fintech industry, a thriving ecosystem that has risen on the back of supportive regulatory initiatives and ambitions to improve financial inclusion.
With 55 active fintech companies, the Dominican Republic was identified by a new report from the Inter-American Development Bank (IDB) to be one of the most dynamic fintech markets in the Caribbean.
This ecosystem has blossomed these past couple of years from the mere two fintech companies it hosted back in 2017, figures which imply an impressive average year-on-year growth rate of 129%, the report says.


A 2022 map by the Dominican Association of Fintech Companies (Adofintech) shows a wide and diverse fintech ecosystem that comprises both local and foreign participants operating across varied subsectors including digital payments, alternative financing, neobanking, cryptocurrency and insurtech.
Image: Dominican Republic fintech map 2022, Source: Adofintech
According to recent data released by the trade group, 48% of fintech companies operating in the country are small companies, followed by micro companies with around 32%. Large companies have a share of 16% and medium-sized companies 8%.
There are currently around 12 foreign fintech companies with operations in the local market. 50% of these are from Latin America, 33% from Europe and 17% from the US.
Findings from a survey conducted as part of the IDB report found that the vast majority of fintech companies operating locally (65%) are offering products aimed at segments historically excluded from the traditional financial sector, a figure that’s among the highest across Latin America (LatAm) and the Caribbean. Nearly half of the Dominican Republic’s population do not have access to a bank account, according to data from IDB.
Image: Percentage of Fintech Startups Focused on Financial Inclusion and Percentage of the Population with Access to a Bank Account, by Country, Source: Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery, Inter-American Development Bank (IDB), 2022
Government support
In the Dominican Republic, fintech development has accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives, the IDB report says.
The Financial Innovation Hub, for example, was launched earlier this year by the central bank and the Superintendencies of Banks, Securities Market, Pensions and Insurance to facilitate the development of financial and technological innovations, and harmonize them with objectives relating to financial inclusion, market efficiency, consumer protection and financial stability.
The Financial Innovation Hub is also responsible for providing personalized assistance and information on the regulatory and supervisory framework of the banking, payment, insurance, pension and securities market systems.
Most recently, the Dominican Republic took its first step towards open banking when the Superintendency of Banks (SB) and the International Finance Corporation (IFC) of the World Bank Group inked a partnership to collaborate on the design and implementation of the concept in the country.
Under the agreement, the World Bank and the IFC, with the collaboration of the Japanese government, will support the SB in its aspirations to create a regulatory framework for the use of application programming interfaces (APIs). The ambition is to increase the efficiency of financial institutions and improve user experience by leveraging data, while promoting greater financial inclusion.
In the Caribbean, governmental bodies and regulators are setting the foundations for fintech innovation by establishing innovation hubs and regulatory sandboxes, the IDB report notes.
In 2019, the Securities Commission of the Bahamas created SCB FitLink, a hub intended to serve as a central point of contact with the public on issues related to fintech including virtual assets, crowdfunding, distributed ledger technology (DLT) and artificial intelligence (AI).
In Barbados and Trinidad and Tobago, special regimes have been introduced to allow entities to experiment with innovative solutions and live test their products and services.

This article first appeared on fintechnews.am

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/dominican-republic-sees-the-rise-of-a-thriving-fintech-sector</link><guid>2811</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Dominican Republic Sees the Rise of a Thriving Fintech Sector</dc:text></item><item><title>Sygnum Bank Dives Into the Metaverse With New Hub</title><description><![CDATA[Digital asset bank Sygnum announced the opening of its metaverse hub, saying that is the virtual equivalent of New York’s Times Square in Decentraland.
Decentraland claims to be the first and largest metaverse which leverages a crypto asset called MANA to facilitate gaming and the purchase of virtual land, goods and services in the space.
The hub is Sygnum’s Web3 portal to the emerging US$ 5 trillion metaverse economy and it will include the SYGN lounge with a CryptoPunk receptionist, an interactive NFT gallery featuring curated exhibitions from Sygnum, its clients and leading creators, plus an exhibition hall for events and launches.


Martin Burgherr
“Metaverse investment is ramping up, powered by crypto-enabled retail transactions and a new generation of users completely at home with socialising, shopping and working in virtual spaces.

Our new metaverse hub is the natural place to showcase Sygnum’s Web3 innovations and provide a trusted entry point for investors into the fast-growing Future Finance economy,”
said Martin Burgherr, Chief Clients Officer, Sygnum.
]]></description><link>https://fintechnews.eu/sygnum-bank-dives-into-the-metaverse-with-new-hub</link><guid>2813</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Sygnum Bank Dives Into the Metaverse With New Hub</dc:text></item><item><title>Wix’s UK-Based Merchants Can Now Pay With Vyne</title><description><![CDATA[Account-to-account payments platform Vyne entered a new partnership with web development platform Wix that gives Wix’s UK-based merchants access to Vyne’s open banking payments infrastructure, enabling them to offer their customers the ability to pay directly from their mobile banking app.
This partnership will give Wix’s merchants in the UK access to Vyne’s full stack payment solutions, including receiving consumer funds, instant full and partial refunds, payouts, batched settlement with full reconciliation, and more.
The frictionless payment process will help to improve merchant checkout conversions by offering a seamless UX via different channels, including online checkout, payment by SMS, chat or email, and QR codes for static or dynamic payment content – all in as little as three clicks.


Wix merchants will also enjoy Vyne’s auto-onboarding process which allows them to sign up and complete the Know Your Business (KYB) process in a matter of minutes.
Once approved, merchants also have access to Vyne’s merchant portal, featuring advanced reporting capabilities, as well as enabling merchants to filter transactions, make refunds, check payment statuses, reconcile payments, and settle funds to their bank account.

Luke Flomo
Luke Flomo, Chief Revenue Officer, Vyne, says:
“Trading conditions, rising card scheme fees, and other macroeconomic challenges are hitting the smallest merchants the hardest.

That’s why we are launching an open banking proposition for SME retailers in conjunction with Wix, so merchants of all sizes can benefit from open banking’s lower fees and instant settlement.”
Amit Sagiv

Amit Sagiv and Volodymyr Tsukur, Co-Heads of Wix Payments, says:
“We’re happy to be partnering with Vyne to give our merchants in the UK even more flexibility in the payment methods they offer their customers to help them and remain competitive, increase conversions and ultimately grow their revenues.”

Featured image credit: edited from Pexels
]]></description><link>https://fintechnews.eu/wixs-uk-based-merchants-can-now-pay-with-vyne</link><guid>2810</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Wix’s UK-Based Merchants Can Now Pay With Vyne</dc:text></item><item><title>SIX Digital Exchange Goes Live With Ethereum Staking Service for Institutional Clients</title><description><![CDATA[SDX Web3 Services, the newly launched business unit from SIX Digital Exchange, is now live with its non-custodial Ethereum staking service.
This new offering is a straightforward and secure way to launch new validators, generate yield from staking, and manage Ethereum validator nodes through a fully managed, API based infrastructure.
The service is tailored to institutional clients who need to scale their Ethereum staking capabilities.


SDX Web3 Services said that it is already in the midst of signing its first client for this non-custodial staking service in the private wealth sector in Switzerland.
Stephan Kunz
“The strong demand for our staking offering shows the institutional market’s readiness and need for secure and trusted services such as our Web3 offering,”
said Stephan Kunz, Head of SDX Web3.
The Ethereum network is improving the security and stability of its blockchain by preparing an upgrade to a Proof of Stake consensus mechanism.
Proof of Stake networks are an attractive alternative to Proof of Work as they do not require energy intensive processing to validate transactions.
The network’s recent successful testnet Merge events, and the planned upgrade in September 2022, have led to an increase in institutional demand for Ethereum staking.
]]></description><link>https://fintechnews.eu/six-digital-exchange-goes-live-with-ethereum-staking-service-for-institutional-clients</link><guid>2808</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>SIX Digital Exchange Goes Live With Ethereum Staking Service for Institutional Clients</dc:text></item><item><title>Infront Inks Deal to Acquire Assetmax to Boost Its Wealth Management Offering</title><description><![CDATA[Norwegian financial data company Infront has entered into an agreement for the acquisition of Swiss wealthtech platform Assetmax. Details of the deal was not disclosed.
The transaction is expected to be completed by the end of September at the latest, subject to customary conditions.
The acquisition represents an important milestone for Infront as the company further strengthens its product offering for wealth management customers across Europe.


Zlatko Vucetic
“We look forward to working closely with Assetmax to continue their impressive organic growth, while developing best-in-class solutions for buy-side customers,”
commented Zlatko Vucetic, CEO of Infront.
Massimo Ferrari
“As part of Infront’s pan-European team, we will be able to both enhance our solution for current customers and introduce the Assetmax solution to new customers.”
said Massimo Ferrari, CEO and Co-founder of Assetmax.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/infront-inks-deal-to-acquire-assetmax-to-boost-its-wealth-management-offering</link><guid>2809</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Infront Inks Deal to Acquire Assetmax to Boost Its Wealth Management Offering</dc:text></item><item><title>Digital Banking and Insurtech Among Fastest-Growing Fintech Segments in Latin America</title><description><![CDATA[The fintech ecosystem in Latin America (LatAm) has risen quickly over the past couple of years with sustained growth observed in all segments and in the number of active fintech companies, a new report from the Inter-American Development Bank (IDB) and Finnovista shows. But across all major categories, it is digital banking, technology/IT and infrastructure, as well as insurtech that have witnessed the strongest growth.
As of the end of 2021, the LatAm and Caribbean (LAC) region was home to 2,482 fintech companies. The region’s largest economies, Brazil and Mexico, accounted for more than half of the total number of fintech companies, hosting 771 and 512 fintech ventures, respectively. These two countries, combined with the three other top fintech markets in the region, namely Colombia, Argentina and Chile, made up 81% of all LAC fintech startups.
Looking at the growth trajectory of the fintech industry over the past years, IDB notes that the number of fintech companies in the region more than doubled between 2017 and 2021, showing the dynamism and expansion that the industry has been experiencing these past few years. On average, the number of fintech companies in LAC’s top five biggest fintech markets has grown at 34% per year between 2017 and 2021.


Evolution of the fintech ecosystem in five major Latin American markets, Source: Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery, Inter-American Development Bank (IDB) and Finnovista, 2022
A deep dive into key fintech subsectors shows that payments and remittances have remained the region’s biggest fintech segment, representing now 25% of all fintech companies in LAC or 604 ventures. The payments and remittances category is followed by lending (19%), business technology solutions for financial institutions (15%) and enterprise financial management (11%).
Distribution of fintech companies in Latin America, by segment, Source: Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery, Inter-American Development Bank (IDB) and Finnovista, 2022
LatAm’s booming digital banking sector
Although digital banks only represent 5% of all fintech companies in LAC, the research found that it had been the fastest-growing fintech segment between 2017 and 2021, with the number of digital banking companies growing at an average annual rate of 57% between 2017 and 2021 to reach 60.
Average annual growth of fintech segments in Latin America (2017–2021), Source: Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery, Inter-American Development Bank (IDB) and Finnovista, 2022
Digital banking has been one of the most talked about fintech trends in LatAm amid booming adoption in markets including Brazil and Mexico, and soaring funding activity.
Brazil’s Nubank has amassed more than 48 million customers across LatAm and is today the country’s biggest digital banking company. Last year, it became LatAm’s most valuable listed bank after raising US$2.6 billion in an initial public offering (IPO) that gave it a market value above US$40 billion.
Banco Inter, another Brazilian digital bank, closed 2021 with a year-on-year (YoY) customer growth of 93% to reach 16.3 million users. This helped boost revenue by 131% compared to the previous years as well as its net profit by 1,307%. The company, which provides both financial and non-financial services to its customers, has been working on an US expansion, acquiring Los Angeles-based startup Usend in January 2022 and officially launching its US operation in June 2022.
The rise of digital banking in LatAm has been enabled by strong venture capital (VC) activity supporting the sector. An analysis conducted as part of the IDB and Finnovista report found that digital banking companies in LatAm have raised more funds on average than the rest of the fintech ventures in different segments.
Of the digital banking startups surveyed for the report, 68% indicated having received financing. Of these, 36% said they’ve raised more than US$1 million, a proportion that’s much higher than the average reported for the entire fintech sector of 27%.
Infrastructure, tech providers, insurtech see rising traction
After digital banking, business technology solutions for financial institutions recorded the second strongest growth, rising at an average annual rate of 49% between 2017 and 2021. The report highlights a correlation between the rise of digital banking in LatAm and growing demand coming from financial institutions for digital platforms and tech solutions. It notes that within the business technology segment, digital banking platforms and services are the most represented category, implying that growth in the neobanking space has pushed incumbents to ramp up their digital transformation and turn to tech providers for their digital needs.
The insurtech segment also saw significant development, growing at an average annual rate of 46%. This segment already witnessed a natural growth trend before the pandemic, but COVID-19 has accelerated the rise of the sector, the report notes.
Most insurtech companies currently in LatAm operate under a business-to-consumer model (27%), addressing consumers who are banked. 23% of LAC insurtech companies operate under a business-to-business (B2B) model, serving financial institutions, and 20% are serving consumers at the base of the pyramids.
Insurtech is a promising space in LAC, the report says, given the low penetration of insurance products that stood at an average of 3.1% of premiums/GDP in 2020 compared to the global average penetration ratio of 7.2% in 2019.
Business models and market niches served by insurtech startups in Latin America, Source: Fintech in Latin America and the Caribbean: A Consolidated Ecosystem for Recovery, Inter-American Development Bank (IDB) and Finnovista, 2022

This article first appeared on fintechnews.am

Featured image credit: edited from Unsplash

]]></description><link>https://fintechnews.eu/digital-banking-and-insurtech-among-fastest-growing-fintech-segments-in-latin-america</link><guid>2807</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Digital Banking and Insurtech Among Fastest-Growing Fintech Segments in Latin America</dc:text></item><item><title>Netcetera’s ToPay Mobile Wallet Wins Aite-Novarica Group Innovation Award</title><description><![CDATA[Digital payment solutions provider Netcetera has been recognised in advisory firm Aite-Novarica Group’s annual Digital Wallet Impact awards, under the value-added services category.
Netcetera won the award for its ToPay Mobile Wallet, a mobile app including all necessary functions for issuing, using, and managing debit, credit, and prepaid cards.
Customers with the wallet and Click to Pay Push Provisioning can enroll to Click to Pay (CtP) securely and easily directly from the issuer app. There is no need to enter card data or addresses manually.


CtP Push Provisioning is an easy way to add every payment card to the CtP wallet. Netcetera’s solution is highly flexible and highly configurable with respect to specific requirements of issuers, merchants, and payment service providers, as well as of the card networks.
Stewart Watterson
“The term ‘digital wallet’ continues to evolve within the financial technology industry as the various types of value and ‘items’ one can hold in a secure digital state, including driver’s licenses, vaccination cards, and NFTs, become more diverse.

The firms we recognise are the leaders in this space, and they are helping to redefine the category,”
said Stewart Watterson, Strategic Advisor at Aite-Novarica Group.
]]></description><link>https://fintechnews.eu/netceteras-topay-mobile-wallet-wins-aite-novarica-group-innovation-award</link><guid>2806</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Netcetera’s ToPay Mobile Wallet Wins Aite-Novarica Group Innovation Award</dc:text></item><item><title>Skribble Raises EUR10 million to Expand in Europe</title><description><![CDATA[Zurich-based electronic signature specialist Skribble has completed a EUR 10 million round of funding. The round was led by Munich-based Acton Capital Partners and Swiss venture capital firm VI Partners.
Contracts such as employment and supplier contracts, along with delivery notes or tenders, have long since needed to take the detour via printer, paper and post to be signed with legal validity. The digital method with Skribble is much faster, more secure and more sustainable.
The new funding will go towards Skribble’s geographical expansion and growing the office in Karlsruhe. In addition to strengthening its position in the DACH region, the company wants to advance into more European markets.


The capital will also be used to advance product development and expand its clear positioning as an easy-to-use signature service with a top-of-the-range user experience.
This round of funding is the third since the company was founded in 2018. Stakeholders from previous rounds, including btov Partners AG, Mobiliar AG, Helvetia Venture Fund and Züricher Kantonalbank (ZKB), also made further investments this time. Many employees also make capital contributions to the company
Dominik Alvermann
“Due to a lack of trust in legal certainty and ready-to-use e-signing solutions, more than 99% of contracts in Germany are currently printed out and signed by hand.
Skribble has launched an e-signature service that is completely watertight in terms of legal validity and data protection, eclipsing paper and pens when it comes to simplicity,”
said Dominik Alvermann, Partner at Acton Capital.

]]></description><link>https://fintechnews.eu/skribble-raises-eur10-million-to-expand-in-europe</link><guid>2805</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Skribble Raises EUR10 million to Expand in Europe</dc:text></item><item><title>Hackers Tap Cross-Chain Bridges Vulnerabilities; Whopping US$2B Worth of Crypto Stolen So Far</title><description><![CDATA[Hackers and cybercriminals are exploiting vulnerabilities found in cross-chain bridge protocols to siphon billions of dollars worth of cryptocurrencies out of wallets and smart contracts, a new report by blockchain analytics firm Chainalysis claims.
A total of 13 separate cross-chain bridge hacks have been recorded so far, netting criminals about US$2 billion, according to the firm. Most of these attacks took place this year, showing that the trend is proliferating and becoming a top security risk in the crypto industry.
Attacks on bridges account for 69% of total funds stolen in 2022 so far, totaling around U$1.4 billion, estimates Chainalysis. The biggest single event was the US$615 million haul snatched from the Ronin bridge in March 2022. Ronin is an Ethereum sidechain developed for the popular non-fungible token (NFT) game Axie Infinity.


Another major heist this year was Wormhole’s US$320 million hack in February. Wormhole is one of the most popular bridges linking Ethereum and Solana, allowing users to move their tokens and NFTs from one blockchain to the other.
And just last month, attackers drained the Nomad cross-chain bridge token bridge of nearly US$200 million worth of crypto. Nomad, which marketed itself as more secure than competing bridges, closed a US$22.4 million seed funding round in July at a US$225 million valuation. Backers included Coinbase’s venture capital (VC) arm and NFT marketplace OpenSea.
Quaterly value stolen in hacked and shareof all hacked value stolen from bridge protocols, Source: Chainalysis, Aug 2022
Cross-chain bridges are protocols that let user port digital assets and data from one blockchain to another. Their design and specificities vary but most protocols on the market right now work by “wrapping” tokens in a smart contract and issuing native assets to be used on the other blockchain.
Wrapped BTC (wBTC), for example, is an ERC-20 token on the Ethereum blockchain that use bitcoin as collateral. Users first need to send BTC to a “merchant,” who then initiates the minting of new wBTC tokens. These tokens are then send to the user who can use them on the Ethereum network to interact with Ethereum-based decentralized apps (DApps) and other services.
To redeem BTC for wBTC, a “burn transaction” is initiated by the merchant where the wBTC tokens are permanently pulled out of circulation and the user gets the equivalent amount of BTC in return.
Since cross-chain bridges essentially work as liquidity providers, collecting funds and locking them into a central point of storage, they have become an attractive target for criminals.
Chainalysis estimates that North Korean-linked hackers have stolen approximately US$1 billion worth of cryptocurrency so far this year, entirely from bridges and other decentralized protocols.
Cross-chain bridges have risen in popularity this past year amid soaring crypto trading activity. During the market frenzy of late 2021/early 2022, total valued locked (TVL) in Ethereum bridges crossed the US$20 billion mark, rising more than 28x from the US$700 million TVL recorded in May 2021, data compiled by Dmitriy Berenzon, a research partner at blockchain angel fund 1kx, show.
According to Dezentralizedfinance.com, a platform that provides NFT and DeFi data and analytics, here are currently about 75 cross-chain bridges in operation.
Cross-chain bridges map, Source: Dezentralizedfinance.com, May 2022

Featured image credit: Edited  from freepik
]]></description><link>https://fintechnews.eu/hackers-tap-cross-chain-bridges-vulnerabilities-whopping-us2b-worth-of-crypto-stolen-so-far</link><guid>2801</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Hackers Tap Cross-Chain Bridges Vulnerabilities; Whopping US$2B Worth of Crypto Stolen So Far</dc:text></item><item><title>Hackers Tap Cross-Chain Bridges Vulnerabilities; Whopping US$2B Worth of Crypto Stolen</title><description><![CDATA[Hackers and cybercriminals are exploiting vulnerabilities found in cross-chain bridge protocols to siphon billions of dollars worth of cryptocurrencies out of wallets and smart contracts, a new report by blockchain analytics firm Chainalysis claims.
A total of 13 separate cross-chain bridge hacks have been recorded so far, netting criminals about US$2 billion, according to the firm. Most of these attacks took place this year, showing that the trend is proliferating and becoming a top security risk in the crypto industry.
Attacks on bridges account for 69% of total funds stolen in 2022 so far, totaling around U$1.4 billion, estimates Chainalysis. The biggest single event was the US$615 million haul snatched from the Ronin bridge in March 2022. Ronin is an Ethereum sidechain developed for the popular non-fungible token (NFT) game Axie Infinity.


Another major heist this year was Wormhole’s US$320 million hack in February. Wormhole is one of the most popular bridges linking Ethereum and Solana, allowing users to move their tokens and NFTs from one blockchain to the other.
And just last month, attackers drained the Nomad cross-chain bridge token bridge of nearly US$200 million worth of crypto. Nomad, which marketed itself as more secure than competing bridges, closed a US$22.4 million seed funding round in July at a US$225 million valuation. Backers included Coinbase’s venture capital (VC) arm and NFT marketplace OpenSea.
Quaterly value stolen in hacked and shareof all hacked value stolen from bridge protocols, Source: Chainalysis, Aug 2022
Cross-chain bridges are protocols that let user port digital assets and data from one blockchain to another. Their design and specificities vary but most protocols on the market right now work by “wrapping” tokens in a smart contract and issuing native assets to be used on the other blockchain.
Wrapped BTC (wBTC), for example, is an ERC-20 token on the Ethereum blockchain that use bitcoin as collateral. Users first need to send BTC to a “merchant,” who then initiates the minting of new wBTC tokens. These tokens are then send to the user who can use them on the Ethereum network to interact with Ethereum-based decentralized apps (DApps) and other services.
To redeem BTC for wBTC, a “burn transaction” is initiated by the merchant where the wBTC tokens are permanently pulled out of circulation and the user gets the equivalent amount of BTC in return.
Since cross-chain bridges essentially work as liquidity providers, collecting funds and locking them into a central point of storage, they have become an attractive target for criminals.
Chainalysis estimates that North Korean-linked hackers have stolen approximately US$1 billion worth of cryptocurrency so far this year, entirely from bridges and other decentralized protocols.
Cross-chain bridges have risen in popularity this past year amid soaring crypto trading activity. During the market frenzy of late 2021/early 2022, total valued locked (TVL) in Ethereum bridges crossed the US$20 billion mark, rising more than 28x from the US$700 million TVL recorded in May 2021, data compiled by Dmitriy Berenzon, a research partner at blockchain angel fund 1kx, show.
According to Dezentralizedfinance.com, a platform that provides NFT and DeFi data and analytics, here are currently about 75 cross-chain bridges in operation.
Cross-chain bridges map, Source: Dezentralizedfinance.com, May 2022

Featured image credit: Edited  from freepik
]]></description><link>https://fintechnews.eu/hackers-tap-cross-chain-bridges-vulnerabilities-whopping-us2b-worth-of-crypto-stolen</link><guid>2804</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Hackers Tap Cross-Chain Bridges Vulnerabilities; Whopping US$2B Worth of Crypto Stolen</dc:text></item><item><title>Selma Raises Additional CHF 7 Million in Series A Extension Led by TX Ventures</title><description><![CDATA[Digital financial advisor Selma Finance extends its Series A funding round with an additional CHF 7 million led by TX Ventures, VC arm of Swiss media company TX Group, bringing its Series A round to a total of CHF 10 million.
Sparrow Ventures, the VC arm of Migros Group, as well as other existing investors also participated in the round.
Selma said that it had used the initial CHF 3 million Series A funding to triple client numbers to over 10,000 clients across Switzerland and double its headcount.


The additional funding will allow the company to localise its services to the French-speaking region of Switzerland and to continue evolving its product offering. For example, Selma Finance plans to not only offer automated financial advice but also access to financial planning done by experts.
Selma aims to build trust through individual assistance with the “Selma bot” which creates tailored investment plans with algorithms, and via their support team which advises clients to invest according to their financial situation and suitable risk level.
Krzysztof Bialkowski
“Selma’s clear competitive advantage of making financial advice simple, friendly and accessible allows the company to thrive even in the current difficult economic environment.

Impressive growth and more than 10.000 of happy customers are a clear proof of it,”
said Krzysztof Bialkowski, Investment Director, TX Ventures.
Yan Waldmeyer

“​​Selma Finance has shown tremendous traction since Sparrow Ventures first invested 18 months ago.

It was therefore an easy decision to support the team with another investment to make digital investment services accessible to the people in Switzerland,”
said Yan Waldmeyer, Senior Investment Manager, Sparrow Ventures.

]]></description><link>https://fintechnews.eu/selma-raises-additional-chf-7-million-in-series-a-extension-led-by-tx-ventures</link><guid>2802</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Selma Raises Additional CHF 7 Million in Series A Extension Led by TX Ventures</dc:text></item><item><title>Tresio Partners With Latvia’s Nordigen to Gather Its Customers’ Financial Data</title><description><![CDATA[Financial planning platform Tresio has partnered with freemium open banking provider Nordigen to further enhance its financial tool via accurate, real-time data.
Tresio’s partnership with Nordigen allows it to source customers’ financial data directly from their bank accounts within seconds through secure open banking APIs.
Based in Zurich, Tresio seamlessly integrates with accounting, invoicing and banking systems to give entrepreneurs and finance directors a holistic, 360-degree view of all their finances in one place to enable them to make faster and better business decisions.


Tresio utilises and analyses company data to provide users with detailed insights, financial analytics, liquidity forecasting and future planning.
Roman Levchenko
“Together with Nordigen, we have achieved our goal of providing banking data to our customers in real-time,”
said Roman Levchenko, CTO and Co-Founder of Tresio.

Rolands Mesters
“We are thrilled to be Tresio’s chosen open banking partner and we are excited to see their continued growth in the industry,”
said Rolands Mesters, co-founder and CEO of Nordigen.


]]></description><link>https://fintechnews.eu/tresio-partners-with-latvias-nordigen-to-gather-its-customers-financial-data</link><guid>2800</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Tresio Partners With Latvia’s Nordigen to Gather Its Customers’ Financial Data</dc:text></item><item><title>OneSpan’s Mobile Security Solution Snags the 2022 SC Award</title><description><![CDATA[Digital agreements security company OneSpan announced its Mobile Security Suite (MSS) has earned the coveted title of “Best Mobile Security Solution” for the 2022 SC Awards.
Held by the CyberRisk Alliance and its flagship brand SC Media, the SC Awards are recognised throughout the security industry as the gold standard of excellence in cybersecurity.
Mobile fraud attacks continue to accelerate as mobile devices, and mobile applications become more popular for conducting transactions and completing agreements in today’s anywhere economy.


According to Verizon’s Mobile Security Index 2022 report, 61% of companies in 2021 suffered a compromise involving a mobile device, while 53% of the mobile devices had access to more sensitive data than a year ago.
Matthew Moynahan
“OneSpan’s Mobile Security Suite is uniquely poised to enhance customer experience, reduce complexity, and streamline costs by protecting the entire digital agreement process at every stage.

Continued industry recognition from programs, such as the SC Awards, reflects OneSpan’s ability to deliver the highest assurance and integrity to today’s digital businesses.”
said Matthew Moynahan, President and CEO at OneSpan.
Designed to improve mobile security and user convenience across an organisation’s mobile application ecosystem, OneSpan’s Mobile Security Suite uses application shielding, biometric authentication, transaction signing, and other technologies to protect apps from social engineering and malware attacks.

]]></description><link>https://fintechnews.eu/onespans-mobile-security-solution-snags-the-2022-sc-award</link><guid>2803</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>OneSpan’s Mobile Security Solution Snags the 2022 SC Award</dc:text></item><item><title>Banking für die Generation Z</title><description><![CDATA[Unterschiedliche Generationen verhalten sich unterschiedlich. Das liegt auch an den unterschiedlichen Lebensumständen, in denen die Generationen aufwachsen. Beispielsweise belegt eine Befragung von Cassini, dass für die Generation Z (zwischen 1995 und 2009 geboren) das Smartphone der Mittelpunkt ihres Lebens ist.
Mit dem Smartphone kommunizieren und konsumieren die heute zwischen 13 und 27 Jahre alten Jugendlichen und jungen Erwachsenen, sie nutzen es aber auch zur Selbstdarstellung und als Informationsquelle.
Angehörige der Gen Z sind ausserdem Digital Natives und daher technologieaffiner als alle Generationen vor ihnen. Das wiederum führt dazu, dass sie beispielsweise durchaus bereit sind, Finanzdienstleistungen von einem Technologieunternehmen zu beziehen – oder von einer Smartphone- bzw. Neobank. Bankfilialen sehen sie hingegen kaum von innen. Ihre Kundenwünsche unterscheiden sich von den vorherigen Generationen. Doch die Generation Z ist eine lohnende Zielgruppe, die in den kommenden Jahren zu einer zentralen Kundenschicht wird. Daher ist es lohnenswert, sich genauer damit zu beschäftigen, wie sich Angehörige der Gen Z als Kunden gewinnen und halten lassen.


Wie ticken die Angehörigen der Gen Z?
Die Gen Z hat viele Finanzskandale mitbekommen und das teilweise, ohne vorher persönliche positive Erfahrungen mit Banken gemacht zu haben. Auf Vertrauensvorschuss und bedingungslose Loyalität der Gen Z sollten Banken nicht zählen. Ausserdem ist diese Generation doppelt so wechselbereit wie die Gesamtbevölkerung.
Die hohe Wechselbereitschaft gewinnt besondere Relevanz, wenn sie in den Kontext einer Befragung des Competence Center Digital Banking bei der ibi research gesetzt wird: Der Grossteil der 16- bis 25-Jährigen hat der Befragung nach vor allem deshalb ein Girokonto bei traditionellen Kreditinstituten wie Sparkassen und Genossenschaftsbanken, weil das Girokonto kostenlos ist (37 %). Wird nun eine (gegebenenfalls altersbedingte) Kontoführungsgebühr eingeführt, konkurrieren Banken mit FinTechs sowie Big Techs und verlieren ihre gute Ausgangsposition.
Was für ein Banking will die Gen Z?
Viele Studien zeigen, dass Neobanken immer beliebter bei der Gen Z werden. Laut der Bitkom Studie „Neobanken – Hype oder langfristiger Trend?“ sind Personen im Alter von 18 bis 29 Jahren besonders offen gegenüber Neobanken. 38 % interessieren sich für entsprechende Angebote. Und der „EY Global Consumer Banking“-Studie zufolge treffen Neobanken den Nerv der Zeit und etablieren sich immer mehr am Markt. Insgesamt unterhalten 33 % der befragten Deutschen eine Geschäftsbeziehung zu einer Neobank (weltweit: 27 %) und knapp 20 % gaben eine Neobank als ihre Hausbank an. Von den Befragten, die sich für eine Neobank als Hausbank entschieden haben, sind 46 % Prozent zwischen 18 und 34 Jahre alt und damit Angehörige der Generationen Z und Y.
How can banks transform for a new generation of customers? EY
Will die Gen Z also ein Banking, genauso wie es Neobanken anbieten? Ein rein digitales, filialloses Bankgeschäft? Nein, aber der Gen Z gefallen viele Elemente der Angebote der Neobanken. So ist das Smartphone wie erwähnt der Mittelpunkt des Lebens für die Gen Z. Die Verlagerung der eigenen Bank komplett und ausschließlich auf dieses Gerät ist für sie ein logischer Schritt. Insofern passen der Mobile-First-Ansatz der Neobanken und der dadurch bedingte Fokus auf die Banking App gut zur Gen Z.
Usability nicht mit Customer Experience verwechseln
Eine gute Banking App ist also ein Muss, um für die Gen Z attraktiv zu sein. Doch eine App mit einer guten Usability reicht nicht aus, um die anspruchsvolle Gen Z zu begeistern. Aufgewachsen mit und geprägt durch die kundenzentrierten Big Techs und Plattformen unserer Zeit, legt die Gen Z großen Wert auf eine gute Experience. Beispielsweise müssen für die Gen Z die Services digital laufen und dürfen keine Brüche aufweisen. Was am Smartphone begonnen wurde, soll sich dort auch abschliessen lassen. Dauert etwas zu lange oder ist es unverständlich, bricht die Gen Z den Kontakt ab. Auf diese und weitere Wünsche gehen die Neobanken mit ihren Angeboten ein.
Bei näherer Betrachtung wird klar: Digitale Services, die medienbruchfrei auf dem Smartphone laufen, geringe Kosten, die schnelle sowie kontinuierliche Verbesserung von Bankdienstleistungen und generell eine gute Customer Experience können die Neobanken hauptsächlich aufgrund ihrer modernen IT realisieren: Die Prozesse im Customer Engagement Layer und innerhalb der Bank sind komplett digitalisiert und lassen sich vollständig auf dem Smartphone erledigen. Umso mehr Prozesse vollständig digitalisiert sind, umso geringer sind die Kosten. Und umso moderner und flexibler die IT ist, umso besser können Bankdienstleistungen weiterentwickelt werden.
Mit Digital Banking und persönlicher Beratung überzeugen
Natürlich werden etablierte Banken kaum die Kostenstruktur einer Neobank erreichen. Selbst wenn sie so viele Prozesse digitalisieren wie Neobanken, haben sie immer noch Filialen und Berater. Das ist aber kein Nachteil, sondern birgt Potential. Denn was der Gen Z bei den Neobanken fehlt, ist individuelle Beratung. Bei wichtigen Fragen zählt auch für junge Menschen der persönliche Kontakt. In der Bitkom Studie vermissen daher auch 45 % der Befragten bei Neobanken die individuelle Beratung und 33 % gehen einfach lieber in eine Filiale.
Das belegen auch die Ergebnisse der Backbase Studie „State of Engagement Banking 2021“, die Backbase in Zusammenarbeit mit der GFK durchgeführt hat. Die dort befragten 18-29-Jährigen wollen vor allem einfache Bankgeschäfte via Self-Service erledigen, sobald aber die Komplexität des Vorgangs steigt, wünscht sich der Grossteil dieser Altersgruppe die Option, per Chat oder Videotelefonie unterstützt zu werden. Und bei sehr komplexen, nicht alltäglichen Bankgeschäften, deren Auswirkungen sich zudem auch weiter in die Zukunft erstrecken, wünschen sich viele Befragte persönliche Beratung in der Filiale.
Wenn es um Beratung und um Produktabschluss geht, bevorzugt also auch die Gen Z den persönlichen, zwischenmenschlichen Kontakt. Ob in der Filiale, am Telefon, per Videotelefonie oder Chat: Die Gen Z will auf einfachen und unkomplizierten Wegen persönlich Kontakt aufnehmen können. Aus dieser Warte betrachtet, stellen Filialen und geschulte Mitarbeiter für etablierte Banken einen starken Wettbewerbsvorteil dar. Um für die Gen Z attraktiv zu sein, sollten Banken also einerseits weiterhin auf persönliche Beratung setzen, andererseits aber auch ihre digitale Transformation vorantreiben und dabei neu zwischen Digital und Filiale justieren.
Mit einem Partner die Transformation bewältigen
Allerdings tun sich laut der Studie „2022 World Retail Banking Report“ von Capgemini und Efma viele traditionelle Finanzinstitute schwer mit der digitalen Transformation: 95 % der Führungskräfte im Bankensektor gaben an, dass sie Altsysteme und eine veraltete IT behindern. Die herkömmliche IT mit ihren Silos ist also Teil des Problems. Um die digitale Seite der Customer Experience wirklich zu verbessern und zu den Neobanken aufzuschließen, hilft es Banken nicht, bloß eine neue Benutzeroberfläche der App zu launchen oder weitere Point Solutions einzuführen. Erst wenn die Prozesse im Hintergrund nicht mehr durch die Silos bestimmt werden, sind nahtlose Customer Journeys möglich und der Digitalauftritt der Banken wird kundenzentriert.

Doch wie können Banken ihre IT grundlegend, zielführend und zukunftssicher modernisieren? Wie können Banken nicht nur ihre üblichen Services und Produkte in kundenzentrierte Experiences umwandeln, sondern sich gleichzeitig so aufstellen, dass sie ihre Dienstleistungen schnell und kontinuierlich verbessern, also Innovationen schneller entwickeln und ausrollen können? Und wie schnell müssen sie modernisieren, um am Markt relevant zu bleiben? Diese Fragen müssen zusammen gedacht werden und die Zeit drängt. Lösungen, die erst in drei Jahren eingeführt werden, schaffen heute und bis dahin unzufriedene Kunden.
Um Antworten auf diese Fragen zu finden, lohnt es sich zu analysieren, wie Marktbegleiter wie beispielsweise Raiffeisen Schweiz auf die Herausforderungen reagieren. Die drittgrösste Schweizer Bankengruppe entwickelt derzeit mit Unterstützung des Technologiepartners Backbase ihre Kundenschnittstelle weiter und will den Schritt zum Engagement Banking gehen. Im Zuge der Partnerschaft wird Raiffeisen ihre digitalen Angebote, die sich an Retail- und KMU-Kundinnen und -Kunden richten, auf die Backbase Engagement-Banking-Plattform aufbauen.
Banken stehen vor einer unlösbaren Aufgabe, wenn sie versuchen, die Wünsche der Gen Z nach einer exzellenten digitalen Customer Experience mit traditionellen Konzepten wie der kompletten Eigenentwicklung von Technologielösungen zu bewältigen. Um ihre IT grundlegend, schnell und zukunftssicher zu modernisieren, sollten Banken daher den Einkauf und die Integration einer Engagement-Banking-Plattform erwägen. Finanzinstitute können so schnell ihren gesamten Customer Engagement Layer modernisieren, auch schrittweise und im laufenden Betrieb. Mit einem starken Partner und dessen Engagement-Banking-Plattform ist jede Bank in der Lage, die digitale Transformation zu bewältigen und zu der Bank zu werden, die ihre Kunden lieben.
]]></description><link>https://fintechnews.eu/banking-fur-die-generation-z</link><guid>2799</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Banking für die Generation Z</dc:text></item><item><title>6 Swiss Fintech Startups Join F10 Accelerator Program in Zurich</title><description><![CDATA[The ninth edition of the F10 Incubation Program showcases a diverse and innovative batch of early-stage startups, covering solutions in areas such as Web3, Sustainability, Proptech, Regtech, Wealth Management, InsurTech and Investing.
The 5-month program, which started on the 29th of August, focuses on helping the startups validate their idea and go-to-market strategies. It also provides pitch training sessions and supports in the investment and fundraising process. The startups receive dedicated coaching and access a vast network of mentors, experts, and investors. The Incubation program culminates in a Demo Day on the 15th of December.
The cohort includes 13 pre-seed and seed startups from 3 countries, 6 are from Switzerland.


Marc Hauser, Head of F10 Europe commented:
“We are very excited for the 9th Incubation Batch in Zurich. Competition to get into the program was intense and I congratulate all the teams being selected. The mix of different use cases will be an excellent addition to the F10 ecosystem and the team is looking forward to working with the founders.”
Meet the 13 startups of Incubation Batch 9:

Cober.io (Spain)

Cober.io is on a mission to protect eCommerce and help them monetize through Embedded Insurance.

Crowdgenix (Spain)

Crowdgenix is a decentralized multi-chain incubator, launchpad, and DEX platform offering multi-asset classes, including utility, security, hybrid, and non-fungible tokens.

Cryptoeasy (Switzerland)

Cryptoeasy is an investor profile- and portfolio-based DeFi interface enabling investors to discover, build, track, buy and stake into diversified portfolios of any asset class.

Cryptotechfin (Spain)

Cryptotechfin Is the next-gen algorithmic investment technology platform for the crypto market.

Delega (Switzerland)

Delega revolutionises signatory management. Co-developed by industry stakeholders, Delega is an innovative digital tool that empowers corporates and banks to get this complex process right first time.

Eco2wallet (Spain)

Eco2wallet is an award-winning Female-led, EU-finance backed, sustainable fintech, powered by a debit card that plants trees for each purchase, and a “pokemon” that evolves if you have sustainable purchases.

Emilian (Switzerland)

Emilian is an InsurTech-as-a-Service company that helps insurance providers increase distribution. With the first B2B recommendation platform we automate the matching of insurance offerings and risk appetite with the needs of clusters of policyholders.

FinFinder.ch (Switzerland)

FinFinder.ch is an AI-based Matching Platform for qualified financial advisors. Free, digital, independent.

Insaas.ai (Germany)

Insaas.ai offers automated market research for insurances to power a sustainable go-to-market for existing and new products.

myEGO (Germany)

myEGO delivers the next generation of infrastructure for digital identity: Decentralised &amp; SSI.

Reloop (Spain)

From cost center to revenue center, instant refunds by Reloop make online retailers more profitable by powering a solution that reduces returns, removes manual processes and drives customer loyalty.

TransferChain (Switzerland)

TransferChain is a blockchain based cross-platform software bringing together distributed cloud storage, file transfer, and instant messaging

Twire (Switzerland)

Twire helps web pioneers to build high-performing web3 companies. We help web3 builders to participate in the success of their work.


]]></description><link>https://fintechnews.eu/6-swiss-fintech-startups-join-f10-accelerator-program-in-zurich</link><guid>2797</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>6 Swiss Fintech Startups Join F10 Accelerator Program in Zurich</dc:text></item><item><title>FIS Rolls Out New Central Infrastructure Payment Solution</title><description><![CDATA[American multinational company FIS has launched its new central infrastructure payment solution, RealNet Central, to help central banks transform their markets to digital-first, real-time payment economies.
With real-time payments increasing, many countries must either modernize outdated payments infrastructure or build entirely new real-time payments networks to move money faster.
Currently, 72 percent of the world’s population has, or will soon have, access to instant payments, according to the 2022 Worldpay from FIS Global Payments Report.


Many markets are also replacing or renovating their established real-time services, especially those that repurposed their corporate real-time gross settlement (RTGS) services to cater for instant payments, such as Brazil, United Kingdom, Japan, South Africa and Mexico.
Similarly, India and the U.S. are introducing additional competing services that will sit alongside the established schemes.
As this shift occurs, RealNet Central will accelerate real-time payments adoption by connecting a country’s businesses, consumers, financial institutions and government entities to real-time networks, both domestically and internationally.
FIS will also help central banks launch Central Bank Digital Currencies (CBDC). Through FIS’ CBDC Virtual Lab – created in collaboration with M10 Networks (M10) and its high-performance digital money platform – FIS will support countries’ efforts to integrate CBDCs into their economy.
The CBDC Virtual Lab allows central banks, commercial banks and other financial participants to experiment with – and pilot – core concepts of issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments.
FIS’ CBDC Virtual Lab is enterprise-grade technology that supports over one million transactions per second at less than a second latency.
Aman Cheema
“The global economy has rapidly shifted toward digital-first mindsets and methods. While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders,”
said Aman Cheema, Head of Global Real-Time Payments and CBDCs at FIS.
“Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem. The launch of this solution is the latest proof point of FIS’ commitment to invest in innovative technologies and solutions that advance how the world pays.”

This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/fis-rolls-out-new-central-infrastructure-payment-solution</link><guid>2796</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>FIS Rolls Out New Central Infrastructure Payment Solution</dc:text></item><item><title>The Super App Model May Not Be Suitable for the US Market</title><description><![CDATA[Super apps may be widely popular in Asia and quickly gaining ground in Africa and Latin America (LatAm), they have little chance to succeed in the US because of lacking consumer interest, cultural barriers as well as data privacy and security concerns, a new report says.
In a new blog post, Ron Shevlin, chief research officer of advisory firm Cornerstone Advisors, looks at the rise of super apps in parts of the world, delving into the drivers that have contributed to their success and making a case that replicating that success in developed economies like the US is going to be challenging given the cultural, regulatory and consumer trust barriers.
Americans’ financial relationships SOURCE: CORNERSTONE ADVISORS
In Asia, super apps have risen to dominance out of necessity. Firstly, most Asian consumers own “under-powered smartphones” that aren’t suited to manage 40 to 50 separate apps,” Shevlin says. This is not the case in the US where most consumers have smartphones with “plenty of horsepower.” Also, most American consumers don’t mind having 25 to 40 different financial relationships, implying that there is no immediate need nor demand for an all-encompassing app, he says.


Secondly, some Asian markets have strict app marketplaces regulations in place, forcing industry players to find innovative ways to offer consumers the services they want despite the limitations.
In China, for example, the Google Play Store isn’t available, the Apple App Store has a limited offer, and Huawei’s AppGallery lacks many major apps. This has prompted Internet giant Tencent to introduce in 2017 its mini-programs scheme, allowing third-party developers to launch mini-programs within its WeChat ecosystem for end-consumers to use.
Moreover, concerns over data privacy and security could potentially jeopardize the uptake of super apps in the US. Plenty of research have found that Asian consumers tend to be more willing to share data with service providers than their western counterparts.
Super apps’ rise in emerging markets
Super apps are mobile or web applications that provide a variety of services ranging from banking and shopping, to travel planning and food delivery. They act as an all-encompassing self-contained commerce and communication online platform, focusing on ease of use and customer stickiness.
These platforms have risen in popularity in Asia with players like Tencent’s WeChat in China and Grab in Southeast Asia have gained millions of monthly transacting customers.
Headquartered in Singapore, Grab started out as a ride-hailing and transportation app before expanding to food delivery, digital payments and more. The company had 24 million average monthly transacting users in 2021, according to its full year results, and debuted on Nasdaq last year following a US$40 billion merger with a special purpose acquisition company (SPAC) – the largest blank-check merger at the time.
WeChat is a Chinese multi-purpose instant messaging, social media and mobile payment app, allowing users to pay bills, transfer money, book tickets, create company accounts, and more — all in the convenience of a single platform. WeChat became the world’s largest standalone mobile app in 2018, with over 1 billion monthly active users.
Since its birth in Asia, the super app phenomenon has spread around the world and is now gaining ground in Africa and LatAm. In Egypt, MNT-Halan (formerly Halan) began life as a ride-hailing app for two- and three-wheeler vehicles back in 2017 before expanding into an extensive fintech ecosystem that combines a digital wallet, bill payment services, e-commerce with buy now, pay later (BNPL) and micro and consumer loans. Today, the company claims 1 million monthly active users, and more than four million customers in Egypt.
In Kenya, telecommunication company Safaricom, launched in 2021 its M-Pesa super app, allowing small and medium-sized enterprises (SMEs) to create their own business apps within the M-Pesa mobile money ecosystem and access Safaricom’s 25 million mobile money customers in Kenya. M-Pesa super app claims over 2 million active customers on the mini apps.
In LatAm, there is Rappi, a Colombian tech company that started out as an on-demand delivery company before launching into more than a dozen verticals, including banking. There is also Inter, a Brazilian fintech company that operates across banking, credit, investment, insurance and shopping.
No super app has emerged out of the US yet, but several big tech companies including Block, formerly Square, and PayPal have started pushing the idea.
Block co-founder Jack Dorsey has shared aspirations to turn the combination of its Cash App and Afterpay BNPL service into a super app.
And last year, PayPal launched the first version of its super app, offering a combination of financial tools including direct deposit, bill pay, a digital wallet, peer-to-peer payments, shopping tools, cryptocurrency capabilities and more.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/the-super-app-model-may-not-be-suitable-for-the-us-market</link><guid>2795</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/americans-financial-relationship-1024x512.gif?x30842</dc:content ><dc:text>The Super App Model May Not Be Suitable for the US Market</dc:text></item><item><title>InvestHK and HKMA Launches CBDC-Focused Vertical at the Global Fast Track 2022</title><description><![CDATA[Invest Hong Kong (InvestHK) and the Hong Kong Monetary Authority (HKMA) jointly announced the addition of the Central Bank Digital Currency (CBDC) track to the Global Fast Track 2022, giving local and global firms valuable opportunities to partner with the central banking institution to boost the growth and adoption of fintech in Asia and beyond.
The Global Fast Track is organised by InvestHK and co-organised by Finnovasia.


It is a one-stop programme with a business matching portal, pitching competition, and mentoring sessions which connect global fintech companies with a diverse range of Asian Corporate, Investor and Service Champions to explore potential business partnerships and investments.

The CBDC track invites banks, fintechs and tech firms to submit innovative solutions in eight focus areas, including retail CBDC (rCBDC) adoption, wholesale CBDC (wCBDC) adoption, programmable money, interoperability, privacy, cybersecurity, foreign exchange and liquidity management, and offline payments.
Shortlisted applicants will then enter a pitching session exclusive for the track and compete for three awards, namely the Best Use Case Award, Best Technology Award and Best Ecosystem Award.
All qualified candidates may also have the opportunities to work with the HKMA on research projects and pilots to foster the future growth of the CBDC ecosystem.
In recent years, Hong Kong has been leading in international collaborations and research on CBDC, with its work on wCBDC well recognised by the market and ranked as one of the most mature of its kind in the world.
The HKMA has been actively guiding the exploration of both wCBDC and rCBDC.
The launch of the CBDC track shows that the HKMA is committed to facilitating the sector’s growth, promoting industry engagement, and leveraging new technologies to enhance the financial system.
Nelson Chow
“CBDC exploration has been high on the agenda of central banks around the world and has gained reasonable traction in recent years. As Hong Kong’s central banking institution, we endeavour to future-proof Hong Kong in terms of CBDC readiness on both wholesale and retail fronts as part of our ‘Fintech 2025’ strategy.
This year, we are thrilled to partner with InvestHK and introduce a new CBDC track to the Global Fast Track. We are confident that this new CBDC track will yield fruitful outcomes and bring valuable insights, adding to the wealth of knowledge on CBDC and contributing to an enhanced CBDC ecosystem,”
said Nelson Chow, Chief Fintech Officer of the HKMA.
Charles Ng
“We are truly honoured and excited to be working with the HKMA to launch the CBDC track. By connecting private sector leaders directly with the regulator, the track further enables Global Fast Track 2022 to provide comprehensive, one-stop support to innovators around the world, while strengthening Hong Kong’s status as a premier international fintech hub.
Following last year’s success, we believe the enriched programme will further facilitate fintech development in the city and beyond,”
said Charles Ng, Associate Director-General of Investment Promotion of InvestHK.
Meanwhile, InvestHK has unveiled the full list of Corporate, Investor, and Service Champions for this year’s Global Fast Track.
In addition, a wide range of exciting partnering programmes, including the Visa Fintech Fast Track and incubator programmes run by Cyberport and Hong Kong Science and Technology Parks Corporation, have also been announced.
Application for the CBDC track is now open until 16 September. To learn more about the CBDC track and the latest programme updates, visit the Global Fast Track 2022 website.

]]></description><link>https://fintechnews.eu/investhk-and-hkma-launches-cbdc-focused-vertical-at-the-global-fast-track-2022</link><guid>2793</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Global-Fast-Track.png?x30842&amp;amp;x30842</dc:content ><dc:text>InvestHK and HKMA Launches CBDC-Focused Vertical at the Global Fast Track 2022</dc:text></item><item><title>BLKB plant Beteiligung an Parashift</title><description><![CDATA[Parashift ermöglicht es Unternehmen, Daten aus Dokumenten auszulesen und diese für ihre Anliegen zu nutzen. Die BLKB unterstützt das Deep-Tech Startup mit seinen innovativen Lösungen und strebt eine Minderheitsbeteiligung an.
Mit den Lösungen von Parashift können Dokumente wie Lieferscheine, Mietverträge oder Versicherungspolicen gelesen und deren Daten weiterverarbeitet werden. Die Benutzer von Parashift können dadurch wiederkehrende manuelle Tätigkeiten effizienter abwickeln und neue digitale Angebote schaffen. Das Start-up nutzt für die automatische Dokumentenextraktion hoch entwickelte Lösungen, welche auf künstlicher Intelligenz beruhen. Das Sissacher Unternehmen, welches rund 40 Personen beschäftigt, wird aufgrund seiner hochmodernen Technik als Deep-Tech Unternehmen bezeichnet.
Deep-Tech aus dem Baselland
Die BLKB nutzt die Lösungen von Parashift seit dem Frühjahr 2022 und konnte sich von den innovativen Lösungen überzeugen. Diese positiven Erfahrungen hat die BLKB zu einer Zusammenarbeit auf Finanzierungsebene bewogen. Die BLKB ist bestrebt, den nächsten Wachstumsschritt von Parashift über eine Minderheitsbeteiligung zu unterstützen.


John Häfelfinger, CEO der BLKB, sieht grosses Potenzial für die innovativen Lösungen von Parashift:
John Häfelfinger-Vionnet
«Im Rahmen der Initiative «100 fürs Baselbiet» fördert die BLKB zusammen mit Partnern junge Unternehmen in der Region Baselland. Mit ihrem Fokus auf Deep Tech übernimmt Parashift eine wichtige Pionierrolle zur Schaffung von IT-Arbeitsplätzen in der Region. Unsere finanzielle Unterstützung sehen wir als Grundlage für eine langfristige Partnerschaft.»
Alain Veuve
Die regionale Verankerung steht auch für Alain Veuve, Gründer und CEO von Parashift, im Vordergrund:
«Dass der Aufbau eines Deep-Tech-Unternehmens im Informatikbereich nicht nur in London, Tel-Aviv oder Berlin möglich ist, zeigt sich an unserem Beispiel. Umso mehr freut es uns, dass wir nun die BLKB als starken lokalen
institutionellen Partner im Kreise unserer Investoren begrüssen dürfen.»
Starkes Wachstum
In den letzten 12 Monaten konnte Parashift stark wachsen und Kunden wie BMW, Architrave, Raiffeisenbank, AMAG und Unilegion gewinnen. Zudem haben verschiedene Analysten das baselbieter Unternehmen als global relevanten Anbieter für intelligente Dokumentenverarbeitung identifiziert. Das Wirtschaftsmagazin Forbes nannte Parashift eines von 30 vielversprechenden Start-ups im Bereich künstlicher Intelligenz in Europa.
Im nächsten Entwicklungsschritt gilt es für Parashift die globale Expansion aus der Region Baselland heraus in Angriff zu nehmen. Zu diesem Zweck lanciert das Startup eine Finanzierungsrunde, welche nationalen wie internationalen Investoren offensteht.
BLKB Fintech Startup Beteiligungen
Zuvor hatte BLKB sich schon am KMU Crowdfunding Startup Swisspeers und am Wealthtech Startup Kaspar&amp; beteiligt
]]></description><link>https://fintechnews.eu/blkb-plant-beteiligung-an-parashift</link><guid>2792</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>BLKB plant Beteiligung an Parashift</dc:text></item><item><title>How to Enter a New Market Faster as a Fintech Company</title><description><![CDATA[By now, most of us are tired of reading about how many industries have been wiped out or troubled by the pandemic.
However, some sectors have since rebounded and are even displaying growth. In Fintech, 2021 was a record year for investments – 132 billion dollars across the board, according to marketing analytics firm CB Insights. With the rising tide of digital services, these investments make Fintech a formidable growth industry.
To learn about how FinTech is developing in Latvia and how a FinTech player can efficiently launch operations and carve out a market segment, we talked to Staņislavs Siņakovičs, Head of the Sales and Regional Development Department at LPB Bank.


Fintech in Latvia: what’s new?
Like in any other country, the FinTech sector in Latvia, has made a lot of news – some highly promising, some less so. In 2018, Latvia was on the verge of being greylisted by Moneyval. This could have resulted in a lowering of the entire country’s financial rating, but thanks to proactive efforts by the Latvian state authorities, Latvia dodged the greylist. However, it caused a decrease in the financial prestige it had once enjoyed.
Staņislavs Siņakovičs
“There has been good news, too. In a relatively short period of time, Latvia was able to turn its entire financial sector around and meet stringent AML requirements. If anyone still sees our country as an unreliable regional financial centre, the only explanation is an awareness gap. We, as a Bank, are actively involved in industry events, including Europe’s financial giant, the Money20/20 expo. We cooperate with the FCMC and with European partners to boost Latvia’s financial and technological reputation on the international stage,”
remarks Siņakovičs, a Fintech cooperation executive well-versed in the situation in the industry.
He adds that Latvia’s neighbors, Lithuania and Estonia, provide substantial state support for demonstrating and promoting their respective Fintech sectors globally. This support is both systematic and centralized. For many years, Lithuania has been a global leader in the number of financial services licenses issued – these are required for the operation of credit institutions, payment institutions (PIs), and electronic money institutions (EMIs).
Although Latvian Fintech cannot yet boast about being a top performer or enjoy significant support from the national government, Siņakovičs believes that the industry is rich in technical awareness, knowledge and experience and can deliver financial technology services at the highest level.
“In a certain sense, the devastating loss of financial reputation positively promoted regulatory improvements. Latvia now sets an example with its anti-corruption and compliance regulations and market best practices in internal controls. This makes Latvian financial service suppliers to be great partners to companies and investors worldwide. After noticing market interest, we have been developing a Banking as a Service (BaaS) concept, which is now our strategic growth priority alongside e-commerce solutions. Although a wide range of financial services is available in Latvia, LPB Bank is currently the only bank to provide a full-range BaaS offering,”
Staņislavs Siņakovičs emphasizes.
How is LPB Bank helping Fintech players launch operations on the market quickly?
The last thing any business wants is to waste its money, and time delays can often result in the companies losing an essential part of their initial investment or requiring more funding than planned. With LPB Bank, Fintech companies and start-ups can roll out branded products to their end-users in record time.
“An entrepreneur always has a choice – to build an in-house infrastructure from scratch or rely on the existing ready-to-launch solutions. Both options have their strengths and weaknesses, and the challenge is to satisfy a company’s business strategy, experience, and scale of operations. Business owners and executives may understand that having a dedicated infrastructure brings independence, freedom and flexibility – but it will take 1-2 years and at least as many million euros to implement. An entrepreneur relying on already available solutions can spend less and plan to enter the market sooner. So, we have developed a comprehensive infrastructure for non-banking financial companies. Those that choose our BaaS solution will not need to integrate dozens of fragmented products and services or evaluate the available vendors for each. We can guarantee quicker, less-expensive market entry to PIs and EMIs operating under their financial license. The time to market can be as short as a few months,”
Siņakovičs explains the advantages of LPB Bank offer.
What services has LPB Bank included in its BaaS solution?
With Banking as a Service, LPB Bank provides all the essentials for payment companies (of the PI, EMI or PSP variety) to start serving their customers as soon as possible. The Bank supports safeguarding accounts, Visa, Mastercard and Apple Pay acquiring services, addressable BIC connection for SEPA, SEPA Instant and TARGET2, virtual IBANs, and will soon support BIN sponsorship as well. To connect to LPB Bank payment infrastructure and use these services, a payment company accesses the Bank’s API for quick and secure integration.
Of course, this isn’t the final step in establishing cooperation. For onboarding, a Fintech entity must undergo an enhanced due diligence procedure.
“The technical side is the easy part. The longest and most labor-intensive part of the process is so-called onboarding. This is where a company presents its business model to us, talks about its clients, where they live and what they do, what the expected average value per payment is, where the company sees its risks, and so on. We also investigate the company’s AML and other procedures, followed by a live video demonstration. This is where the potential client presents its customer lifecycle “live”, from registration in their payment system to sending a payment. The purpose of such an in-depth analysis is to verify that a payment institution did not stop drafting appropriate documentation but does everything it says and can implement its business model effectively. At that point, we will be able to connect the client to our infrastructure,”
says Siņakovičs on establishing cooperation with a client.
LPB Bank verifies whether a potential client’s business model is viable with this onboarding process. With the expertise it has gathered so far, the Bank can offer solutions and recommendations for developing a business efficiently.
“An essential service with BaaS is the safeguarding account. Regulators in most countries require customer accounts to be booked separately from the company’s funds, and a payment institution cannot to receive a financial license without having safeguarding accounts. Another significant aspect of accounts is addressable BIC within the Single Euro Payment Area (SEPA). It connects a payment institution to international payment systems and lets it execute its customer’s payments via a unique BIC of its own as well as to assign unique IBANs to its customers.
In spring 2022, our clients received access to other essential service connections to SEPA Instant and TARGET2. Instant payments mean that financial institutions remit transfers within mere seconds. The customers of a payment entity can make instant payments between accounts held with banks that are members of European instant payment systems.Soon, we will launch virtual IBANs – a subtype of regular bank account numbers. The difference is that a virtual IBAN is a unique allocated reference to the central master account. A virtual IBAN will be applicable to companies that receive payments for various services and require additional details (agreement number, month etc.).
Payment institutions’ marketing teams can use BIN sponsorship for brand recognition. LPB Bank will soon finalise the formation and launch our processing center, expanding our capacity for payment card processing. We expect to roll out BIN sponsorship in the first quarter of next year. With access to this service, our clients will be able to issue both virtual and plastic cards under their brands, connected to a card processing solution. They will not need to contact Visa or Mastercard directly: we are already a member of these payment systems and can connect our clients as an intermediary. It saves clients both time and money.
Various service providers have narrower specializations regarding card issues, a range of available payment currencies, etc. If a payment institution becomes a client of several providers, it will pay thousands of euros to connect and monthly subscription fees to each. A broadcustomer base is necessary to recoup such expenses. It also takes resources to support the complicated infrastructure with multiple integrations. Large companies can afford to go this way, but we recommend BaaS to start-ups and small and medium enterprises. The one-time integration fee to a single service provider is much lower, and maintaining the payment infrastructure will require fewer human and financial resources,”
Staņislavs Siņakovičs explains.
For advice on how to use BaaS, please fill out the feedback form on LPB Bank website or write an e-mail to baas@lpb.lv.
]]></description><link>https://fintechnews.eu/how-to-enter-a-new-market-faster-as-a-fintech-company</link><guid>2791</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>How to Enter a New Market Faster as a Fintech Company</dc:text></item><item><title>Top 12 Global Fintech Investors in Q2 2022</title><description><![CDATA[Despite falling tech stocks and concerns about an economic downturn, global fintech venture capital (VC) dealmaking remained strong in 2022.
In H1 2022, fintech startups collected a total of US$53.5 billion, a that sum falls behind 2021’s figure but which surpasses 2020’s totals, according to Pitchbook data, showcasing that fintech startups have continued to attract strong venture investment.
Using data from CB Insights and Pitchbook, we’ve compiled a list of the top 12 most active fintech investors of Q2 2022, looking at the number of deals they participated in during the quarter and their most notable fintech investments.


Global Founders Capital (24 deals)

Founded in 2013, Global Founders Capital is a globally oriented, stage agnostic VC firm based in Germany. The firm backs companies across all stages and throughout the lifecycle, and offers founders all the support they need to scale.
Global Founders Capital seeks to invest in business products and services, consumer products and services, financial services, information technology, mobile, Internet-of-things (IoT), software-as-a-service (SaaS), e-commerce, big data, and technology sectors.
Global Founders Capital’s notable fintech investments include Revolut, Next Insurance and Brex.
In Q2 2022, Global Founders Capital participated in 24 fintech funding rounds. It has made 199 VC fintech investments since 2017.
Tiger Global Management (22 deals)

Tiger Global Management is an investment firm focused on public and private companies in the global Internet, software, consumer, and fintech industries. The firm has two strategies: a public equity business, which uses equity strategies to invest in publicly traded companies, and a private equity strategy, which targets growth-oriented private companies from early to late stages, with an emphasis on businesses based in the US, China and India.
Tiger Global Management’s notable fintech investments include Nubank, Chime and Stripe.
In Q2 2022, Tiger Global Management participated in 22 fintech funding rounds. It has made 192 VC fintech investments since 2017.
Andreessen Horowitz (17 deals)

Founded in Silicon Valley in 2009, Andreessen Horowitz (known as a16z) is a VC firm that backs bold entrepreneurs building the future through technology. The firm is stage agnostic, and invests in seed to venture to late-stage technology companies across bio + healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism. a16z has US$35 billion in assets under management across multiple funds.
A16z’s Notable fintech investments include Robinhood, Affirm and Stripe.
In Q2 2022, the firm participated in 17 fintech funding rounds. It has made 168 VC fintech investments since 2017.
Gaingels (16 deals)

Founded in 2014 and based in the US, Gaingels is a leading venture investment syndicate in support of and representing the LGBTQIA+ community and allies in the VC space. The firm seeks to invest in seed to growth/pre-IPO companies operating in technology to business-to-business (B2B), healthcare, and consumer sectors.
Gaingels’ notable fintech investments include Brex, BlockFi, Binance US and Flutterwave.
In Q2 2022, Gaingels participated in 16 fintech funding rounds. The firm has 91 fintech companies in its portfolio, including Brex, BlockFi, Binance US and Flutterwave, according to Dealroom.
Coinbase Ventures (15 deals)

Founded in 2018, Coinbase Ventures is a corporate venture capital (CVC) of Coinbase based in San Francisco. The firm seeks to invest in early-stage companies operating in the cryptocurrency and blockchain technology sectors.
Coinbase Ventures’ notable fintech investments include Paxos, Pintu and Amber Group.
In Q2 2022, the firm participated in 15 fintech funding rounds. According to its website, it currently has more than 200 companies in its portfolio.
Soma Capital (13 deals)

Founded in 2015, Soma Capital is a VC firm headquartered in San Francisco. It’s a fund built by founders for founders, focused on software.
Since its inception, Soma Capital has invested seed money in hundreds of software companies valued at more than US$60 billion combined, including 17 unicorns. The firm invests early in software to “automate the world”, across any region and in any sector that can touch billions of people and “push humanity forward.”
In Q2 2022, Soma Capital participated in 13 fintech funding rounds. According to Dealroom, the firm has 80 fintech companies in its portfolio, including Razorpay, Flutterwave, Swipe and Paymongo.
Accel (10 deals)

Accel, formerly known as Accel Partners, is an American VC firm. It works with startups in seed, early and growth-stage investments, and concentrates on technology sectors such as consumer, infrastructure, SaaS and enterprise software.
Accel has funded technology companies including Facebook, Slack, Dropbox, and Flipkart, and has offices in California, with additional operating funds in London, India and China.
Accel’s notable fintech investments include Monzo, Trade Republic and Zepz.
In Q2 2022, Accel participated in 10 fintech funding rounds. Since 2017, it has made 149 VC fintech investments.
Index Ventures (10 deals)

Index Ventures is a VC firm based in San Francisco, London and Geneva, investing in technology-enabled companies with a focus on e-commerce, fintech, mobility, gaming, infrastructure/artificial intelligence (AI), and security. Index Ventures covers every investment stage, from earliest seed through to explosive growth.
Index Ventures’ notable fintech investments include Adyen, Alan and Robinhood.
In Q2 2022, the firm participated in 10 fintech funding rounds. According to its website, it currently has 46 fintech companies in its portfolio, including Auxmoney, Swile, formerly Lunchr, and Fonoa Technologies.
Jump Crypto (10 deals)

Jump Crypto is a division of Jump Trading Group, a research-driven quantitative trading firm and one of the largest traders, by volume, across traditional asset classes.
Jump Crypto focuses on building and standing up critical infrastructure needed to catalyze the growth of the crypto ecosystem. It brings together builders, partners, and traders, taking a long-term view of crypto’s prospects and operating to unlock the full potential of open, community-driven networks.
In Q2 2022, Jump Crypto participated in 10 fintech funding rounds. According to Dealroom, the firm has 23 fintech companies in its portfolio, including 0x, Coinhako, Kucoin, Solana and the Near Protocol.
Insight Partners (9 deals)

Insight Partners, previously Insight Venture Partners, is an American VC and private equity firm headquartered in New York City focusing on growth-stage technology, software and Internet businesses.
Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. The firm has over US$90 billion in assets under management (AUM) and participated in nine fintech funding rounds in Q2 2022.
According to its website, it currently has 60 fintech companies in its portfolio, including Checkout.com, Spenmo, Xendit and Flutterwave.
Pantera Capital (9 deals)

Founded in 2013, Pantera Capital is an institutional investment firm focused exclusively on bitcoin, other digital currencies, and companies in the blockchain technology ecosystem. Pantera Capital manages US$5.6 billion across three strategies – passive, hedge, and venture – and is said to be operating the largest crypto hedge fund in the world by AUM.
In Q2 2022, Pantera Capital participated in nine fintech funding rounds. Since 2013, the firm has backed more than 90 blockchain companies and 100 early-stage token deals.
Portfolio companies include Amber Group, Bakkt, BitGo, Bitstamp, Circle, Coinbase and FTX.
QED Investors (9 deals)

Founded in 2007, QED Investors is a VC firm based in the US. The firm seeks to invest in early-stage companies operating in the financial services, and fintech sectors across the US, the UK and Latin America.
QED Investors focuses on investing in early stage, disruptive financial services companies and is dedicated to building great businesses using a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience.
QED Investors’ notable investments include Credit Karma, ClearScore, SoFi, Avant, Nubank, Remitly, GreenSky and LendUp.
In Q2 2022, the firm participated in nine fintech funding rounds. According to its website, it has more than 130 fintech companies in its portfolio including Creditas, Knip, Flywire, Nubank, FPL Technologies, Remitly and Zopa.

Featured image credit: edited from Unsplash and Pexels
]]></description><link>https://fintechnews.eu/top-12-global-fintech-investors-in-q2-2022</link><guid>2790</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Top 12 Global Fintech Investors in Q2 2022</dc:text></item><item><title>Global Blockchain Funding Dip; Mega-Rounds Shrink</title><description><![CDATA[After a record year 2021, the venture capital (VC) market for blockchain investment is slowing down significantly in 2022 amid uncertain macroeconomic conditions and financial markets turmoil.
In Q2 2022, VC investors scaled back cryptocurrency investments due to macroeconomic pressures, concerns about valuations and market volatility. Global funding fell and the number of mega-rounds of US$100 million and up shrank, putting pressure on startup valuations and slowing down new unicorn startup minting, according to CB Insights’ State of Blockchain Q2 2022 report.
Blockchain funding drops; unicorn minting slows down
In Q2 2022, global funding fell 29% to US$6.5 billion, the first quarter-over-quarter (QoQ) drop in two years. Mega-round funding dropped steeply, decreasing 54% from US$5.6 billion in Q1 2022 to US$2.6 billion in Q2 2022.


Global blockchain funding, Source: The State of Blockchain Q2 2022, CB Insights
Amid declining funding, startup valuation took a toll with new unicorn births dropping from a record high of 16 in Q1 2022 to just eight in Q2 2022.
The most valuable unicorn birth during the quarter was Seychelles-based crypto exchange KuCoin, which reached a US$10 billion valuation following a US$150 million funding round led by Jump Crypto. KuCoin is followed by Babel Finance from Hong Kong (US$2 billion) and Magic Eden from the US (US$1.6 billion).
Record funding in Europe
Looking at geographical trends, the analysis found that Europe was the only region that recorded quarterly growth in blockchain venture funding and deals. In Q2 2022, European blockchain startups raised a total of US$1.4 billion through 106 deals, up 40% from Q1 2022’s US$1 billion.
The figures put Europe well on track for a record breaking year 2022, the report says, given that European blockchain startups raised a total of US$3.5 billion through 273 rounds for the whole year 2021.
Blockchain funding by region, Source: The State of Blockchain Q2 2022, CB Insights
Web3 and institutional crypto and custody services were favored segments in Q2 2022 with six of the top ten biggest deals in Europe going into startups in the two segments. These included Near Protocol, a decentralized application (DApp) platform and Ethereum competitor, MSquared, a network that allows metaverses to be used together, Elwood Technologies, a startup providing market access to leading crypto trading and liquidity venues through a single, integrated platform, and Coinhouse, a crypto solutions provider serving institutional investors.
The analysis also found that although the US drove the global blockchain funding decline, falling 42% QoQ, the country maintained its leadership in blockchain funding, securing a total of US$3.4 billion in Q2 2022. The sum brought the total amount of funding raised by US blockchain startups in H1 2022 to US$9.3 billion.
M&amp;A exits on pace for a record year
In Q2 2022, 49 blockchain merger and acquisition (M&amp;A) deals were announced, the second-highest quarter ever. The amount brought the total number of M&amp;A deals in H1 2022 to 103, a figure which indicates that 2022 could well be a record year for blockchain M&amp;A exits.
Blockchain M&amp;A exits quarterly, Source: The State of Blockchain Q2 2022, CB Insights
During the quarter, several prominent crypto lenders filed for bankruptcy, prompting market leaders to seek to acquire companies hurt by the crypto crash at a discount, the report notes.
FTX, a crypto exchange and the world’s most valuable blockchain startup at an estimated US$32 billion valuation, acquired at least three startups this year, data from Crunchbase show, including Liquid Global, the developer of a crypto trading platform, Bitvo, a Canadian crypto exchange, and Good Luck Games, creator of the popular upcoming card auto battle game Storybook Brawl.
Other companies, such as Bolt, Robinhood, and eBay, also acquired a crypto or NFT company in Q2 2022. Bolt’s US$1.5 billion acquisition of Wyre Payments, a company that provides retail and business customers exchange services, was the quarter’s largest M&amp;A exit. Mobile-first brokerage Robinhood acquired crypto trading app Ziglu for a reported US$72.5 million, and global e-commerce company eBay bought UK-based NFT marketplace KnownOrigin.
Web3, NFT, gaming and metaverse startups gain traction
This year, investors’ interest and funding shifted away from centralized crypto exchanges and wallets toward Web3, non-fungible tokens (NFTs), gaming, decentralized finance (DeFi), and DApp infrastructure and development.
In Q2 2022, Web3 accounted for over half of blockchain funding, totaling US$3.7 billion. The sum brings the total funding raised by Web3 startups in H1 2022 to US$10 billion, already matching 2021’s total.
Web3 funding, Source: The State of Blockchain Q2 2022, CB Insights
Top Web3 deals in Q2 2022 included Circle’s US$400 million funding round, Near Protocol’s US$350 million Series C, Sky Mavis and Genies’ respective US$150 million Series C rounds, and MSquared’s US$150 million Series A.
Web3 startups Genies, a platform that allows users to create personalized avatars and chat through their avatar; Magic Eden, an NFT Marketplace on Solana; and 0x, an open protocol that enables the peer-to-peer (P2P) exchange of assets on the Ethereum blockchain, reached unicorn status during the quarter.
Besides Web3, NFT, gaming and metaverse was another segment that saw significant interest from investors this year, with startups in the sector raising a total of US$4.6 billion through 343 deals in H1 2022, figures that nearly surpass 2021’s totals.
NFTs, gaming and metaverse deals, Source: The State of Blockchain Q2 2022, CB Insights

Featured image credit: edited from Pexels
]]></description><link>https://fintechnews.eu/global-blockchain-funding-dip-mega-rounds-shrink</link><guid>2789</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Global Blockchain Funding Dip; Mega-Rounds Shrink</dc:text></item><item><title>E-Commerce Schweiz – Wachstum setzt sich auf hohem Niveau fort</title><description><![CDATA[Alles in allem ist der Schweizer E-Commerce auch 2021 gewachsen. Verschiedene Branchen konnten ihren Online-Umsatz nochmals deutlich erhöhen, andere haben auf hohem Niveau nur noch leicht zugelegt und wenige haben aufgrund der sich normalisierenden Gesamtverhältnisse Online-Umsatz verloren.
Marianne Bregenzer
„Die Schweizer Konsumentinnen und Konsumenten haben während der Pandemie die Vorteile von E-Commerce kennengelernt. Sie schätzen zeitlich und örtlich unabhängiges Einkaufen“,
sagt Marianne Bregenzer, Country Director der Nets Schweiz AG.
„Wir gehen davon aus, dass in den kommenden Jahren der Online-Handel weiter an Bedeutung gewinnen wird. Die pandemiebedingten Investitionen der Händler waren folglich nicht umsonst. Die Zukunft ist digital.“
Die E-Commerce-Gewinner



Die Reisebranche hat besonders von der sich normalisierenden Gesamtsituation profitiert und ihren Online-Umsatz um 61% auf CHF 8,9 Mrd. erhöht. CHF 3,3 Mrd. wurden für Hotelreservationen ausgegeben (+ 51%) und CHF 2,9 Mrd. für Flugtickets (+ 107%). Auch die Bereiche Haus und Garten konnte ihren Online-Umsatz um weitere 57% auf CHF 300 Mio. steigern. Der Umsatz für Weisswaren wie Kühlschränke und Waschmaschinen ist im Vorjahresvergleich um 38% auf CHF 600 Mio. gestiegen. Pharmazeutische Produkte wurden im Umfang von CHF 400 Mio. online bestellt (+ 38%).
Zunehmende Mobilität beeinflusst die Online-Umsätze
2021 konnten die Gastrobetriebe und der stationäre Handel ihre Kundinnen und Kunden nahezu durchgehend vor Ort begrüssen. Die Mobilität hat wieder zugenommen, was verschiedene Branchen auch bei ihren Online-Umsätzen gespürt haben. 2021 wurde deutlich weniger Lebensmittel und Alkohol online bestellt als ein Jahr zuvor und der Umsatz ist um 29% von CHF 3,2 Mrd. auf CHF 2,3 Mrd. gesunken. Auch die Media-Anbieter konnten nicht an die Umsatzgewinne im ersten Pandemiejahr anknüpfen, bei online gekauften Büchern, Filmen und Musikangeboten ging der Umsatz um 21% auf CHF 600 Mio. zurück. Der Online-Umsatz mit Waren hat über alle Branchen hinweg um 5% nachgegeben und lag 2021 bei CHF 16 Mrd.
Kleidung, Lebensmittel und Alkohol sowie Schuhe sind online am beliebtesten
Kleidung zählt nach wie vor zu den beliebtesten Online-Einkäufen – 46% der Schweizer Konsumentinnen und Konsumenten gaben an, dass sie sich in den letzten 28 Tagen online eingekleidet haben, insgesamt haben sie CHF 3,2 Mrd. dafür ausgegeben. 27% haben im gleichen Zeitraum Schuhe, 26% Lebensmittel und Alkohol und 21% Beauty-Produkte gekauft.
Percentage of consumers who have shopped online from each category in the past 28 days : Consumer spending by category
Bequem und einfach zählt – der Preis ist sekundär
Bei den wichtigsten Beweggründen für den Online-Einkauf ist der Preis auf Platz fünf zurückgefallen. Bequemlichkeit ist fast dreimal so wichtig wie ein günstiger Preis. 27% nennen einfach und bequem als wichtigsten Beweggrund, um online einzukaufen, 15% schätzen zeitlich flexibles Einkaufen, 12% das breite Sortiment und 12% die Zeitersparnis. Nur gerade 10% gaben an, dass ihnen beim Einkaufen der tiefste Preis wichtig ist. Dass trotzdem 56% der befragen Konsumentinnen und Konsumenten wegen des tiefen Preises einen Online-Einkaufskanal im Ausland wählen, ist kein Widerspruch. Es reflektiert das, was wir auch im stationären Handel erleben: Wer im Grenzgebiet wohnt, kauft häufiger in einem der Nachbarländer ein. Einfach und bequem muss es sein und dazu braucht es im digitalen Zeitalter keine Filiale im Ausland. Ein attraktiver, bequemer Online-Shop in Kombination mit vertrauensbildender regionaler Nähe und einem schnellen Service sind Schlüsselfaktoren, mit denen auch kleine Händler punkten können.
Wunsch nach einfacher Kaufabwicklung
Der Wunsch nach einem schnellen und einfachen Einkaufserlebnis erstreckt sich auch auf die ganze Kaufabwicklung. In der Schweiz ist die Kreditkarte das beliebteste Zahlungsmittel im E-Commerce, 62% bezahlen damit ihre Einkäufe, 30% sogar präferiert. 44% bestellen auf Rechnung, 23% von ihnen präferiert.
E-Wallets und Debitkarten am Durchstarten
Bereits 18% haben 2021 ihre Debitkarte für Online-Einkäufe eingesetzt. Der Anteil dürfte sich mit der zunehmenden Verbreitung der neuen Debitkarten von Mastercard und Visa schnell erhöhen. Bargeld und Debitkarten sind das beliebteste Zahlungsmittel in der Schweiz. Mit dem Rückenwind werden die neuen Debitkarten insbesondere auch bei jüngeren Konsumentinnen und Konsumenten, die noch keine Kreditkarte besitzen, im E-Commerce punkten. Genau wie E-Wallets wie beispielsweise PayPal oder Twint. Sie wurden von 29% der Konsumenten und Konsumentinnen genutzt und von 13% präferiert.

Payments: Common currency – the most used payment methods of 2021
Europäische E-Commerce Trends für den Schweizer Markt nutzen
Der E-Commerce Report wird bereits seit einigen Jahren vom zur Nexi Group gehörenden europäischen Zahlungsdienstleister Nets Group für die skandinavischen Länder erstellt. Mit der Ausdehnung auf weitere Länder wie die Schweiz, Österreich und Deutschland ist ein paneuropäischer E-Commerce Report entstanden, der die frühzeitige Erfassung von Trends sicherstellt und Händler bei der lokalen Umsetzung unterstützt. Erhoben wurden die Daten für den E-Commerce Report vom Markforschungsunternehmen Kantar Sifo, das dafür in der Schweiz von Januar bis Dezember 2021 rund 1.250 Konsumentinnen und Konsumenten befragte. Die ausgewiesenen Umsätze beziehen sich auf die Ausgaben im In- und Ausland und sind Schätzungen auf der Grundlage von Medianwerten.
]]></description><link>https://fintechnews.eu/e-commerce-schweiz-wachstum-setzt-sich-auf-hohem-niveau-fort</link><guid>2786</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Swiss-eCom-1024x894.png?x30842</dc:content ><dc:text>E-Commerce Schweiz – Wachstum setzt sich auf hohem Niveau fort</dc:text></item><item><title>E-Commerce Schweiz – Wachstum setzt sich auf hohem Niveau fort / E-Wallets starten durch</title><description><![CDATA[Alles in allem ist der Schweizer E-Commerce auch 2021 gewachsen. Verschiedene Branchen konnten ihren Online-Umsatz nochmals deutlich erhöhen, andere haben auf hohem Niveau nur noch leicht zugelegt und wenige haben aufgrund der sich normalisierenden Gesamtverhältnisse Online-Umsatz verloren.
Marianne Bregenzer
„Die Schweizer Konsumentinnen und Konsumenten haben während der Pandemie die Vorteile von E-Commerce kennengelernt. Sie schätzen zeitlich und örtlich unabhängiges Einkaufen“,
sagt Marianne Bregenzer, Country Director der Nets Schweiz AG.
„Wir gehen davon aus, dass in den kommenden Jahren der Online-Handel weiter an Bedeutung gewinnen wird. Die pandemiebedingten Investitionen der Händler waren folglich nicht umsonst. Die Zukunft ist digital.“
Die E-Commerce-Gewinner



Die Reisebranche hat besonders von der sich normalisierenden Gesamtsituation profitiert und ihren Online-Umsatz um 61% auf CHF 8,9 Mrd. erhöht. CHF 3,3 Mrd. wurden für Hotelreservationen ausgegeben (+ 51%) und CHF 2,9 Mrd. für Flugtickets (+ 107%). Auch die Bereiche Haus und Garten konnte ihren Online-Umsatz um weitere 57% auf CHF 300 Mio. steigern. Der Umsatz für Weisswaren wie Kühlschränke und Waschmaschinen ist im Vorjahresvergleich um 38% auf CHF 600 Mio. gestiegen. Pharmazeutische Produkte wurden im Umfang von CHF 400 Mio. online bestellt (+ 38%).
Zunehmende Mobilität beeinflusst die Online-Umsätze
2021 konnten die Gastrobetriebe und der stationäre Handel ihre Kundinnen und Kunden nahezu durchgehend vor Ort begrüssen. Die Mobilität hat wieder zugenommen, was verschiedene Branchen auch bei ihren Online-Umsätzen gespürt haben. 2021 wurde deutlich weniger Lebensmittel und Alkohol online bestellt als ein Jahr zuvor und der Umsatz ist um 29% von CHF 3,2 Mrd. auf CHF 2,3 Mrd. gesunken. Auch die Media-Anbieter konnten nicht an die Umsatzgewinne im ersten Pandemiejahr anknüpfen, bei online gekauften Büchern, Filmen und Musikangeboten ging der Umsatz um 21% auf CHF 600 Mio. zurück. Der Online-Umsatz mit Waren hat über alle Branchen hinweg um 5% nachgegeben und lag 2021 bei CHF 16 Mrd.
Kleidung, Lebensmittel und Alkohol sowie Schuhe sind online am beliebtesten
Kleidung zählt nach wie vor zu den beliebtesten Online-Einkäufen – 46% der Schweizer Konsumentinnen und Konsumenten gaben an, dass sie sich in den letzten 28 Tagen online eingekleidet haben, insgesamt haben sie CHF 3,2 Mrd. dafür ausgegeben. 27% haben im gleichen Zeitraum Schuhe, 26% Lebensmittel und Alkohol und 21% Beauty-Produkte gekauft.
Percentage of consumers who have shopped online from each category in the past 28 days : Consumer spending by category
Bequem und einfach zählt – der Preis ist sekundär
Bei den wichtigsten Beweggründen für den Online-Einkauf ist der Preis auf Platz fünf zurückgefallen. Bequemlichkeit ist fast dreimal so wichtig wie ein günstiger Preis. 27% nennen einfach und bequem als wichtigsten Beweggrund, um online einzukaufen, 15% schätzen zeitlich flexibles Einkaufen, 12% das breite Sortiment und 12% die Zeitersparnis. Nur gerade 10% gaben an, dass ihnen beim Einkaufen der tiefste Preis wichtig ist. Dass trotzdem 56% der befragen Konsumentinnen und Konsumenten wegen des tiefen Preises einen Online-Einkaufskanal im Ausland wählen, ist kein Widerspruch. Es reflektiert das, was wir auch im stationären Handel erleben: Wer im Grenzgebiet wohnt, kauft häufiger in einem der Nachbarländer ein. Einfach und bequem muss es sein und dazu braucht es im digitalen Zeitalter keine Filiale im Ausland. Ein attraktiver, bequemer Online-Shop in Kombination mit vertrauensbildender regionaler Nähe und einem schnellen Service sind Schlüsselfaktoren, mit denen auch kleine Händler punkten können.
Wunsch nach einfacher Kaufabwicklung
Der Wunsch nach einem schnellen und einfachen Einkaufserlebnis erstreckt sich auch auf die ganze Kaufabwicklung. In der Schweiz ist die Kreditkarte das beliebteste Zahlungsmittel im E-Commerce, 62% bezahlen damit ihre Einkäufe, 30% sogar präferiert. 44% bestellen auf Rechnung, 23% von ihnen präferiert.
E-Wallets und Debitkarten am Durchstarten
Bereits 18% haben 2021 ihre Debitkarte für Online-Einkäufe eingesetzt. Der Anteil dürfte sich mit der zunehmenden Verbreitung der neuen Debitkarten von Mastercard und Visa schnell erhöhen. Bargeld und Debitkarten sind das beliebteste Zahlungsmittel in der Schweiz. Mit dem Rückenwind werden die neuen Debitkarten insbesondere auch bei jüngeren Konsumentinnen und Konsumenten, die noch keine Kreditkarte besitzen, im E-Commerce punkten. Genau wie E-Wallets wie beispielsweise PayPal oder Twint. Sie wurden von 29% der Konsumenten und Konsumentinnen genutzt und von 13% präferiert.
Payments: Common currency – the most used payment methods of 2021
Europäische E-Commerce Trends für den Schweizer Markt nutzen
Der E-Commerce Report wird bereits seit einigen Jahren vom zur Nexi Group gehörenden europäischen Zahlungsdienstleister Nets Group für die skandinavischen Länder erstellt. Mit der Ausdehnung auf weitere Länder wie die Schweiz, Österreich und Deutschland ist ein paneuropäischer E-Commerce Report entstanden, der die frühzeitige Erfassung von Trends sicherstellt und Händler bei der lokalen Umsetzung unterstützt. Erhoben wurden die Daten für den E-Commerce Report vom Markforschungsunternehmen Kantar Sifo, das dafür in der Schweiz von Januar bis Dezember 2021 rund 1.250 Konsumentinnen und Konsumenten befragte. Die ausgewiesenen Umsätze beziehen sich auf die Ausgaben im In- und Ausland und sind Schätzungen auf der Grundlage von Medianwerten.
]]></description><link>https://fintechnews.eu/e-commerce-schweiz-wachstum-setzt-sich-auf-hohem-niveau-fort-e-wallets-starten-durch</link><guid>2788</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Swiss-eCom-1024x894.png?x30842</dc:content ><dc:text>E-Commerce Schweiz – Wachstum setzt sich auf hohem Niveau fort / E-Wallets starten durch</dc:text></item><item><title>UK’s First Digital Promissory Note Transaction</title><description><![CDATA[Lloyds Bank has completed the UK’s first transaction utilising a digital promissory note (DPN) purchase. This landmark transaction dramatically increases speed of payment and paves the way for a significant increase in the use of promissory notes for a broad range of transactions.
Promissory Notes
Promissory notes have been around for nearly 4000 years, used to complete transactions in lieu of cash. In a modern setting, their use is typically limited to large transactions such as the sale and purchase of land.
The use of promissory notes allows sellers to be paid, based on the creditworthiness of the purchaser. The purchaser can obtain goods and/or services with a note, rather than needing to have funds on hand. The process involved in issuing, authenticating, and paying out on promissory notes is little changed since their inception.


The use of promissory notes in the UK is governed by the Bills of Exchange Act, which has hindered innovation due to the requirement that notes are a physical entity. The transfer of a physical paper note between banks and notaries means it can take a week, or more, for businesses to be paid.
Same-Day-Payment
Under legal guidance, Lloyds Bank developed a digital promissory note – a solution that works within contract law and utilises the International Trade and Forfaiting Association’s (ITFA) dDOC specifications, under the Digital Negotiable Instrument Initiative (DNI).
On 17 August, Lloyds Bank successfully completed a ‘pilot’ transaction, which is the first under the DNI initiative, and a key milestone in the digitisation of trade finance. The transaction was initiated and completed within the day and involved the sale and purchase of land worth £48m between several UK businesses. The Bank’s promissory note was issued using Enigio´s solution, trace:original, for digital original documents.
The new digital solution delivers a same-day payment to the vendor by removing the need to physically transfer actual notes. This creates a more affordable, safer, more flexible, more sustainable, and transparent online solution that could be applied to other types and sizes of transactions. This innovation is expected to open a new form of payment discounting to businesses of all sizes for the first time, improving cashflow for SMEs on both sides of a trade transaction.
Gwynne Master
Gwynne Master, MD, Lending and Working Capital for Lloyds Bank said:
“Promissory notes are an important tool for businesses that undertake large transactions but are a relatively niche solution. Their use allows purchases to progress where shortage of cashflow may otherwise prevent them. Until now, this industry-side solution is typically slow, expensive, and administratively cumbersome.
“With this successful UK-first transaction, we have delivered an innovative digital solution that is quicker, less expensive, and more secure. The digitisation and simplification of this solution finally opens this form of payment discounting to potentially millions of small businesses, improving their ability to manage their working capital and the cashflow of their suppliers by fulfilling invoices more quickly.”
Andre Casterman
Andre Casterman, Managing Director of Casterman Advisory and an ITFA board member added:
“Digitisation of trade opens up many new opportunities for financial institutions to improve client satisfaction. As a member of ITFA’s DNI Initiative, Lloyds Bank has been very focused on applying advanced technologies to address clients’ pain points and is now becoming the leading institution to bring promissory notes into the 21st century. I am very impressed with the steady progress achieved by the team at Lloyds Bank, and their rapid implementation of Enigio’s trace:original technology which is presently the sole solution to comply with ITFA’s dDOC specifications.”
The DPN transaction has been completed as part of Lloyds Bank’s ongoing digital strategy, and paperless trade initiative that aims to offer clients the opportunity to transact and present documentation in a completely digital manner, leading the way in removing paper from trade transactions, where around 28.5 billion pieces of paper are used globally, each year. The Bank’s digital strategy also includes a partnership with Satago to deliver a single platform Invoice Financing and Invoice Factoring solution.
]]></description><link>https://fintechnews.eu/uks-first-digital-promissory-note-transaction</link><guid>2787</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>UK’s First Digital Promissory Note Transaction</dc:text></item><item><title>Adyen Rolls Out Its Very Own Terminal Range Designed In-House</title><description><![CDATA[Dutch payments firm Adyen announced the launch of its first in-house designed terminals which was designed to facilitate diverse payment use cases. The terminal range marks the latest step forward in Adyen’s growing unified commerce offering.
The devices run on Adyen’s single platform, which enables end-to-end control, tailored payment flows, and high speed of innovation at the point-of-sale.
The first terminal in the suite is the NYC1, the most affordable and flexible device within the in-person payment range.


The device enables businesses to offer a fully customised payment flow in their own point of sale app. It’s ideal for businesses that have already invested in hardware like phones or tablets and want to add payments to their set-up.
A key use case is platforms who want to offer a simple and affordable payment device to their small business customers. There is also strong usability among enterprises who see mobility as a way to deliver more seamless in-person experiences – from mitigating long lines at checkout to freeing up sales associates to provide more personalised service.
The NYC1 terminal is available now in North America, with coverage extending to other regions soon.
The second is the AMS1, an all-in-one terminal with an Android operating system that businesses can use to accept payments as well as run their own business applications.
By consolidating applications, store employees can perform tasks such as accessing their cash register, managing inventory, and accepting payments all on a single device.
It simplifies day-to-day operations while also providing the same benefits as the NYC1.
The AMS1 is ideal for enterprise and platform businesses that want to be able to access all operational apps via one device.
The terminal will be globally available later this year, starting with Europe and North America.
Kamran Zaki
“Adyen’s commitment is to help businesses realize their ambitions faster, and creating our own terminals is the latest way we’re delivering on this promise. We always innovate based on customer feedback to deliver superior experiences with speed and flexibility.

With our in-person payments offering, businesses have a full suite of terminals to choose from, enabling them to pick the best one to meet their specific needs,”
said Kamran Zaki, COO at Adyen.
Derk Busser
“By taking ownership of the terminal design, Adyen is assuring we put customer needs at the heart of their functionality. Our goal is to continuously reduce friction within the consumer journey.

By designing highly mobile devices, we’re empowering businesses to collect payments not only when behind a checkout counter – but anywhere. The breadth of use cases this mobility provides signifies an exciting development in advanced, in-person purchase,”
said Derk Busser, VP of Product, In-Person Payments.

This article first appeared on Fintech News America. 

Featured image credit: Adyen
]]></description><link>https://fintechnews.eu/adyen-rolls-out-its-very-own-terminal-range-designed-in-house</link><guid>2785</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Adyen Rolls Out Its Very Own Terminal Range Designed In-House</dc:text></item><item><title>Bridging the Gap Between Online Business and Transactional Banking</title><description><![CDATA[As the global economy shifts towards an interconnected future, digitalisation continues to transform the world of transactional banking. Fintechs often outpace traditional banking institutions when it comes to serving the fast paced environment of online business.
Swiss fintech Klarpay AG aims to bridge that gap. Founded in 2019, Klarpays’ vision is to create a nimble and modern all-in-one solution to empower digital businesses through, scalable, and API enabled corporate accounts and cross-border payment capabilities. Klarpay combines a digital first IBAN account with multi-currency global payment acceptance, and disbursement.
The Legacy Fallacy
For digital entrepreneurs to achieve results and create value in a rapidly modernising world, they need to understand the needs of new generations of users and test innovative business models. The conflict is that traditional banking institutions and innovative companies are not a match. Legacy banks are often characterised by bureaucratic and rigorous risk assessment processes that are often not adapted to modern-day online businesses. They often lack the latest technical infrastructure to provide online businesses with the embedded, interconnected, and frictionless payment and banking solutions they need to grow at a scale.


On the flip side, online businesses demand their banking partners to provide all services digitally and instantly through up-to-date technical integrations and protocols. Unfortunately, most legacy banks don’t have the malleable technical infrastructure in place to provide such solutions.
Unrestricted by rigid legacy systems, Klarpay’s key competitive advantage is a tech-forward approach to integrated transactional banking solutions designed for the digital era. One of the main ways in which Klarpay seeks to disrupt the incumbent banking industry is through accessible, forward-thinking, and fully integrated digital transactional banking solutions.
Regulation Matters
Another key differentiator for Klarpay has been its approach when it comes to regulation. In 2019, Klarpay became one of the first companies to secure a fintech deposit-taking licence under the Swiss Federal Banking Act Article 1B. Acquiring a deposit-taking licence by FINMA has enabled Klarpay to provide businesses with a comprehensive corporate accounts and payments service that includes everything from IBAN and virtual debit card issuance to global payment acceptance.
Klarpay’s authorization also grants the company a unique competitive advantage when it comes to cryptocurrency transactions, with Switzerland being one of the few countries in the world to define a clear regulatory framework on cryptocurrency acceptance. As open banking and Account-to-Account (A2A) payments become more mainstream, Klarpay’s merchant clients will be able to benefit from significantly lower costs and instant settlement on cryptocurrency transactions.
End-to-end Digital Transformation
As the financial world continues to evolve and consumers increasingly embrace new ways to pay online, digital businesses will require even more innovative, interoperable and omnichannel payment solutions. Klarpay is well-positioned to play an integral role in unlocking this friction around banking, payment, and disbursement solutions for digital businesses now and in the future.
]]></description><link>https://fintechnews.eu/bridging-the-gap-between-online-business-and-transactional-banking</link><guid>2784</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Bridging the Gap Between Online Business and Transactional Banking</dc:text></item><item><title>How Connected Cars Will Help Drive the Payment Revolution</title><description><![CDATA[Cars are becoming increasingly more connected and are turning into a new mobile source of payment and data.
Juniper Research estimates that by 2026, global transaction volume of in-vehicle payments will exceed 4.7 billion by 2026, up from just 87 million in 2021, an extraordinary growth which will be driven by increasing industry collaboration and initiatives from stakeholders.
According to JP Morgan, connected cars could profoundly transform how people transact, create new business models, and introduce new opportunities for all stakeholders in the industry.


In a new blog post, the bank delves into its key predictions for the future of the connected car market, sharing how it believes car wallets will revolutionize the payment industry, reshape commerce and bring about new shopping experiences.
The future of automotive payments solutions, Source: JP Morgan
New shopping experiences
Today’s customers are looking for more convenient digital solutions to spending, a shift that has enticed tech startups, car dealers and banks to develop new shopping experiences and distribution models to cater to consumers’ changing needs.
Carvana, for example, is an online used car retailer that provides a comprehensive online ecosystem for customers to browse for vehicles, get an offer for their trade-in, secure financing and schedule the delivery of their vehicle. The company is fastest growing online used car dealer in the US and was one of the youngest companies to be added to the Fortune 500 List.
Another example cited in the post is WePay, a payments infrastructure provider and Chase company. In the automotive space, WePay facilitates payment transactions, allowing customers to go directly to an auto manufacturer’s website and make a contactless down-payment directly to the dealership. Customers can also request additional products and services like routine vehicle maintenance, parts and accessories right from the auto manufacturer’s website and send payment directly to the dealership.
A wallet on four wheels
In the payment area, connected cars hold promising opportunities both in the business-to-consumer (B2C) and the business-to-business (B2B) fields.
In B2C, a mobile wallet integrated into a connected car can allow drivers to make seamless transactions, whether that’s paying for coffee, parking space or making their car loan monthly payment. A car wallet can also be used by manufacturers and dealerships to allow electrical charging deposits and trade-in credits for use in an ecosystem, creating more value for customers, improving retention and enabling better ownership and mobility experiences.
In B2B, a car wallet can be used by a business to pay for its employees’ travel and expenses, removing the need to report expenses separately and helping mitigating fraud by controlling which types of merchants can receive payments, for example.
A marketplace connecting drivers with merchants and services providers
Like mobile phones became a channel for marketplaces and e-commerce activity, connected cars could potentially take on a similar role, connecting drivers to retailers, gas stations and service providers via their dashboard.
A media company, for example, could use the car as an outlet and offer consumers the opportunity to purchase the goods displayed on the screen via contextual commerce.
Opportunities to develop marketplaces also exist where a customer could potentially be provided with access to a broad range of products and services offered by third parties right from their car. Similar to an app store, the platform would connect third-party suppliers to each other, allow them to collaborate and sell their products and services on the car’s marketplace.
Data monetization
Equipped with sensors, connected cars also offer auto manufacturers with data monetization opportunities, allowing them to gain deeper insights into their customers to provide additional services tailored to their specific needs.
Using real-time data collected from a car, a manufacturer could provide greater insights and advisory services to dealerships and drivers, helping them to curate a personalized user experience that could ultimately lead to greater revenues.
Insurance companies, as well, could use this data to offer pay-as-a-go insurance coverage and personalized pricing options, improve the claims process, and overall deliver a better overall experience.
An enabler for mobility-as-a-service
Finally, JP Morgan believes connected cars have the potential to further fuel the growth of shared mobility, acting as an enabler for new usership and ownership models.
Shared mobility has been a fast-growing industry over the past couple of years, a rise that’s been driven by increased demand for short-term rentals, car sharing options and car subscriptions.
Major auto manufacturers including Toyota, Audi and Jaguar Land Rover all offer options for car subscriptions, while tech-enabled companies like HyreCar and Turo are providing private car owners with the means to rent out their vehicles.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/how-connected-cars-will-help-drive-the-payment-revolution</link><guid>2782</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>How Connected Cars Will Help Drive the Payment Revolution</dc:text></item><item><title>UBS Invests in Tech Unicorn Bigpanda</title><description><![CDATA[




UBS  announced it has invested in BigPanda, a leading artificial intelligence IT operations (AIOps) platform, through UBS Next, the firm’s strategic venture and innovation unit.








 

As clients increasingly seek more digital services and business becomes more data driven, UBS is actively engaging the financial technology community and investing in companies with game-changing technologies to shape the future of banking for clients.







Leveraging machine learning to predict, detect and respond to incidents within complex IT systems, BigPanda’s platform helps automate incident management processes to ensure systems stay up and running. As a result, the platform helps companies reduce costs, enhance service availability, increase transparency and improve the speed of IT operations.
Mike Dargan
“We’re excited to build on our relationship with BigPanda through this investment, helping drive digital disruption and innovation in AIOps,”
said Mike Dargan, UBS Group Chief Digital and Information Officer.
“By increasing transparency and leveraging technology to automate key processes, companies can reduce downtime and focus on developing new products and services for clients.”
Assaf Resnick
“As companies increase their dependance on technology as an enabler and differentiator, and ultimately change how they deliver their products and services to clients, it has become even more important for them to ensure their IT operations platforms run smoothly,”
said Assaf Resnick, CEO and co-founder of BigPanda.
“UBS is an early adopter of AIOps in the financial services industry and similarly sees the power emerging technology can have on their operations to deliver a best-in-class client experience.”
UBS Next invests in and partners with early-stage fintech and tech startups through its $200 million portfolio and runs an incubator for innovation projects to convert ideas into viable businesses. The unit is responsible for enabling innovation across UBS to find new and effective ways to engage clients and deliver premier services using the latest technologies.

Featured image credit: Elik Eizenberg Chief Technology Officer and Assaf Resnick is the CEO and co-founder of BigPanda
]]></description><link>https://fintechnews.eu/ubs-invests-in-tech-unicorn-bigpanda</link><guid>2783</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>UBS Invests in Tech Unicorn Bigpanda</dc:text></item><item><title>M&amp;A-Aktivitäten von Schweizer KMU auf Rekordhoch</title><description><![CDATA[Die Zahl der Fusionen und Übernahmen kleiner und mittlerer Unternehmen (KMU) aus der Schweiz hat im ersten Halbjahr 2022 erneut einen Rekord erzielt. 133 KMU haben gemäss der neuen Deloitte MidCap-M&amp;A-Studie andere Firmen gekauft oder wurden selbst übernommen, verglichen mit 117 im ersten und 116 im zweiten Halbjahr 2021. Die weltweite wirtschaftliche und geopolitische Instabilität wirkt sich allerdings negativ auf das Transaktionsgeschäft aus und könnte den Appetit der Schweizer KMU auf Übernahmen in der zweiten Hälfte des Jahres 2022 etwas dämpfen.
Die Schweiz hat im ersten Halbjahr 2022 einen historischen Anstieg an M&amp;A-Aktivitäten von KMU erlebt. Es wurde insgesamt 133 Transaktionen durchgeführt – die klar höchste Halbjahreszahl seit Erstpublikation der Deloitte MidCap-M&amp;A-Studie 2013. Die in die Schweiz gerichteten M&amp;A-Aktivitäten legten um einen Viertel zu auf einen neuen Höchstwert von 59 Transaktionen. Und die Zahl aller grenzüberschreitenden Aktivitäten (99 Transaktionen) entspricht ebenfalls dem höchsten Wert seit Beginn der Studien.
Anthony P. West
Für die regen M&amp;A-Aktivitäten gibt es einige Gründe:


«Tiefere Börsenbewertungen für Akquisitionskandidaten, in der Schweiz nach wie vor günstige Finanzierungskosten und der starke Franken haben die Übernahme ausländischer Unternehmen attraktiv gemacht und das Transaktionsfieber bei den Schweizer KMU angeheizt»,
erklärt Anthony West, Partner und Leiter Corporate Finance Schweiz bei Deloitte. Rein inländische Transaktionen nahmen mit einem Minus von knapp 11 Prozent hingegen wieder leicht ab.
Grafik: Anzahl Transaktionen pro Halbjahr aufgeteilt nach Transaktionsarten
Käuferschaft von Schweizer KMU stammt vor allem aus Europa
In der Schweiz wurden im ersten Halbjahr insgesamt 93 KMU gekauft. Der Grossteil der ausländischen Käuferschaft waren europäische (61%) und nordamerikanische (29%) Firmen. Die USA und Deutschland sind schon seit längerer Zeit die wichtigsten in der Schweiz investierenden Länder; aus den Nachbarstaaten kommen zahlenmässig 34 Prozent der Investitionen. Deloitte M&amp;A-Experte Anthony West sieht die robuste Schweizer Wirtschaft sowie die starke Spezialisierung von Schweizer KMU als Hauptgründe für diese Entwicklung.
Gleichzeitig übernahmen Schweizer KMU am häufigsten Betriebe in Europa (85%). Die übrigen Transaktionen umfassen vorwiegend nordamerikanische Firmen. Rund 40 Prozent der Akquisitionen betreffen Unternehmen in den Nachbarländern, wobei allein Deutschland für 27 Prozent der Transaktionen steht. Viele Schweizer KMU bevorzugen ausländische Firmen im Industriesektor. Ebenfalls sehr beliebt sind weiterhin Unternehmen im Gesundheitswesen und in den TMT-Branchen, die beide von der COVID-19-Krise profitiert haben.
Vierteljährliche Veränderung der Multiplikatoren
M&amp;A-Aktivitäten halten trotz Gegenwind an
Die globalen M&amp;A-Aktivitäten haben sich aufgrund der grassierenden Inflation und der steigenden Zinsen, der höheren Finanzierungskosten, des Ukraine-Kriegs und der wachsenden Angst vor einer Rezession bereits im laufenden Jahr stark verlangsamt. Global gesehen sei der grosse Optimismus daher verflogen, wie Anthony West klarstellt.
Für die Schweiz schätzt er die allgemeinen Aussichten durchweg positiver ein, wenn auch weniger optimistisch als noch zu Jahresbeginn. Neu hinzugekommen seien seither viele Risiken rund um den Ukraine-Krieg und dessen vielfältige Auswirkungen auf die globale Wirtschaft.
«Unsicherheit ist Gift für Unternehmenstransaktionen: Aktienmarkteinbrüche, Lieferkettenengpässe und der Kostenanstieg für Rohstoffe, Primärgüter und Dienstleistungen belasten viele Unternehmen – weltweit noch stärker als in der Schweiz. Das sind alles Gründe für eine geringere globale M&amp;A-Aktivität und einen auch etwas schwächeren Appetit von Schweizer KMU auf Akquisitionen in der zweiten Jahreshälfte»,
erläutert Anthony West.
Tiefere Firmenbewertungen bieten günstige Kaufgelegenheiten
Nachdem viele Zentralbanken im Kampf gegen die Inflation die Zinsen angehoben haben, ist die Finanzierung von Akquisitionen grundsätzlich teurer und riskanter geworden. Durch die steigenden Kapitalkosten sind aber auch viele Firmenbewertungen gesunken: Das sind spannende Übernahmegelegenheiten sowohl für Investmentfonds mit grossem Bargeldreserven als auch für finanzstarke Unternehmen mit einem strategischen Fokus. Der Wertverfall vieler Währungen wie des Euro oder des britischen Pfunds gegenüber dem Schweizer Franken macht ausländische Firmen für Schweizer Unternehmen zusätzlich attraktiv.
Über die Studie
In der halbjährlichen Analyse von Deloitte zu M&amp;A-Aktivitäten von Schweizer KMU wurden die Fusions- und Übernahmetransaktionen von Schweizer Klein- und Mittelunternehmen in der Zeit vom 1. Januar bis 30. Juni 2022 untersucht. Deloitte definiert KMU wie folgt: ein Umsatz von mehr als CHF 10 Millionen, weniger als 250 Mitarbeitende und ein Unternehmenswert zwischen CHF 5 Millionen und CHF 500 Millionen.
]]></description><link>https://fintechnews.eu/ma-aktivitaten-von-schweizer-kmu-auf-rekordhoch</link><guid>2780</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>M&amp;A-Aktivitäten von Schweizer KMU auf Rekordhoch</dc:text></item><item><title>Apple Strengthens its Commitment to its Finance Business</title><description><![CDATA[Tech giant Apple is jumping deeper into financial services, moving away from its initial goal of providing finance solutions to retain customers and grow its core business of selling consumer electronics, to the broader aspiration of building a full-blown financial services offering and creating new revenue streams.
In an in-depth opinion piece, Alex Johnson, director of fintech research at investment advisory firm Cornerstone Advisors, looks at Apple’s current portfolio of financial products and services, and recent finance moves to understand the firm’s larger ambitions and predict what might come next for the tech company.
According to the report, while Apple had initially envisioned financial services as a means to improve customer retention and entice consumers to purchase Apple products, that ambition has evolved into a larger vision for its finance business with hopes that these products will eventually generate substantial revenue.


Strengthening its foothold within finance
This evolving stance is evidenced by Apple’s recent acquisitions, product announcements and news leaks that revealed not only the firm’s ambition to expand its portfolio of financial products and services, but also its desire to reduce its dependency on third parties and banking partners.
Apple has made some sizeable fintech acquisitions over the past couple of years that are a testament of the firm’s commitment to expanding its finance business, snatching up Canadian mobile payments company Mobeewave for US$100 million and British open banking credit reference agency Credit Kudos for a reported US$150 million, Johnson notes.
These acquisitions add on to the recently established Apple Financial, a wholly-owned subsidiary, which will be powering the firm’s forthcoming Apple Pay Later service scheduled for public release in the fall of 2022.
The move is a significant shift for the company since, up until now, Apple’s financial services have been backed by third-party providers and banking partners such as Goldman Sachs.
Instead, the new set-up will allow Apple to offer loans directly to consumers for its buy now, pay later (BNPL), taking middlemen out of the equation and allowing the tech firm to earn interchange fees from each transactions, retain control over its data, and help it accelerate the international expansion of its financial products.
These recent developments come on the back of an earlier report by Bloomberg which revealed Apple’s secret “Breakout” initiative that’s allegedly seeking to bring more financial services capabilities, including payment processing, risk and fraud analysis, credit checks, subscription programs for hardware purchases, and BNPL, in-house.
Apple’s existing portfolio of financial products and services

Apple has launched or announced seven key financial products and services, Johnson enumerates. These include:
Apple Wallet, an app that stores users’ credit and debit cards, loyalty and rewards cards, as well as credentials such as drivers’ licenses information and official identity documentations;
Apple Pay, a digital payments services that facilitates contactless payments and transactions using credentials stored in the Apple Wallet;
Apple Card, a credit card with cashback rewards designed primarily to be used with Apple Pay on Apple devices;
Apple Cash, a checking account and digital debit card that allows users to send and receive money in the Messages app and Apple Wallet.
Apple Tap-to-Pay on iPhone, a contactless payment acceptance capability that allows merchants to use their iPhone to support payments through Apple Pay, contactless credit and debit cards, and other digital wallets;
The upcoming Apple Pay Later, a pay-in-four BNPL service which no fees or interest available for Apple Pay users to make purchases online; and
The upcoming Apple Pay Monthly Installments, a point-of-sale (POS) lending service with interest rates determined by the merchant and the customer’s risk profile.

Looking at Apple’s financial services offerings, Johnson identifies a few key building blocks that comprise the firm’s financial infrastructure and ecosystem.
First, the Apple Wallet can be thought of as a container that stores money (Apple Cash), credit (Apple Card, Apple Pay Later and Apple Pay Monthly Installments) and identity, Johnson says. It wraps all these components with a transaction layer (Apple Pay and the physical Apple credit card), which interacts with other systems and components via near-field communication (NFC), QR codes and barcodes, and which facilitates transactions.
Taking this infrastructure into consideration and the fact that all the components in Apple’s financial services ‘stack’ are composable, Johnson believes there are at least 12 different financial products and services Apple could consider introducing in the near future.
First, the firm could develop a more robust checking account offering than what Apple Cash currently provides, with capabilities like direct deposits and early wage access. It could also introduce an improved debit card product with an actual physical card and embedded BNPL functionality, in addition to personal financial management features within the Apple Wallet app like spend categorization, budgeting and goal setting, and subscription management.
Other areas worth investigating, according to Johnson, include small-dollar paycheck advances and overdraft protection, high-yield savings accounts, investment capabilities, credit score monitoring, and health insurance with discounted rates for Apple Watch and Apple Fitness+ users.
Apple’s existing portfolio of financial products and services (white background) and what it could offer in the near future (red background), Source: Alex Johnson, Workweek.com, July 2022

Featured image credit: Apple
]]></description><link>https://fintechnews.eu/apple-strengthens-its-commitment-to-its-finance-business</link><guid>2779</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Apple Strengthens its Commitment to its Finance Business</dc:text></item><item><title>Top Funded DACH Fintechs and Top DACH Fintech Cities</title><description><![CDATA[The global fintech landscape has encountered accelerated change in recent years thanks to expansive funding and the notably pivotal role the industry played in adapting to the pandemic and post-pandemic eras. Financial accessibility and digital services rapidly expanded around the world, giving businesses and consumers never before seen access to banking and financial convenience.
The latest report from findexable, in partnership with Mambu, takes a look at a stand-out region that is elevating fintech’s upward trajectory – the DACH countries.
‘Fintech in Europe: The quiet revolution’ report by findexable
Geographically central and amassing some of the wealthiest consumers on the continent, Germany, Austria, and Switzerland are among the leading economic contributors in the region. And the ingredients for innovation have been ripe. DACH is home to an advanced infrastructure and some of Europe’s most highly skilled tech experts. Accounting for just 13% of Europe’s population, Germany, Austria and Switzerland are home to a fifth of its developers. Established finance and banking industries have also provided a leg up with greater capital, large client reach and unique problems to solve.


North America and Asia have historically been rich breeding grounds for fintech growth and VC investments. And within Europe, the UK unsurprisingly continued to attract the most investment as the region’s leading financial hub. Yet fintech’s rising tide has impacted every corner of the continent. Over the past half decade, DACH has attracted progressively more of the global funding pie, emerging as a genuine rival to the original fintech centres.
The coming years, however, may be a time of uncertainty amid inflation and market volatility. Despite recent success, economic, societal and geopolitical shifts are making it harder for fintechs to find their way forward. Particularly as the focus has shifted from pandemic-era enthusiasm for the digital economy to driving high growth and scalability for businesses.
DACH fintechs offer a way forward for the continent. By bringing diverse technical talent together with an established finance industry, businesses and consumers in the region are embracing financial innovation unlike ever before.
‘Fintech in Europe: The quiet revolution’ report by findexable
The full report dives into six key factors driving this success:
Set up for success: DACH nations boast exceptional technical infrastructure and human capital. From plentiful software developers to the highest level of patent applications in Europe, Germany, Switzerland and Austria have all the ingredients for a thriving fintech industry.
Cultural revolution: A region known for financial conservatism has transformed in recent years, to become a fintech pioneer in several areas. DACH populations have embraced digital payments and cryptocurrency trading apps, as old certainties about financial stability have been eroded by rising asset prices and low returns on deposits.
Deep and diverse: DACH’s fintech ecosystem is geographically more diverse than any other in Western Europe, with no city accounting for a majority of the region’s fintechs. This allows pockets of sector specific innovation to thrive from the Crypto Valley in the Swiss canton of Zug to Banking-as-a-Service (BaaS) startups in Berlin and asset management products in Frankfurt.
Continental powerhouse: After the UK, Germany and Switzerland are the primary destinations for fintech investment in Europe, leaving France in their wake. 2021saw mega funding rounds for fintechs in sectors as diverse as insurtech, BaaS and investing, as major US venture capital funds entered DACH with a vengeance.
Emerging uncertainty: From inflation to rising interest rates and geopolitical uncertainty, fintechs globally are entering a new period of uncertainty. A playbook is emerging in DACH, which involves doubling down on core markets and monetising existing customers, rather than focusing only on growing the customer base.
Partnerships and technical agility will be key to navigating this world of change: the companies that succeed will be those that build alliances with other fintechs in order to distribute their products to clients and consumers, and increase sales by offering products in concert with other fintechs.
Read on for a look at the new normal for fintech in DACH and across the globe, where uncertainty is the new norm and businesses will work to tackle key challenges to deliver success. How can fintechs equip themselves for an environment of constant change?


]]></description><link>https://fintechnews.eu/top-funded-dach-fintechs-and-top-dach-fintech-cities</link><guid>2778</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/DACHS-FINTECH-CITIES.png?x30842</dc:content ><dc:text>Top Funded DACH Fintechs and Top DACH Fintech Cities</dc:text></item><item><title>Neobanks Face Setbacks Amid High Cash Burns and Little Revenue Streams</title><description><![CDATA[A challenging economic environment, diminished funding and valuations, and increased scrutiny of regulators have put tremendous stress on neobanks around the world. Over the past few years, the industry has seen its fair share of business failures often due to high cash burns with little or no revenue streams, a new analysis by WhiteSight, a research firm focused on the fintech space, shows.
The analysis, published earlier this month, looks at past failures and setbacks in the digital banking and neobanking sector, delving into business closures, country exits, license application withdrawals and business pivots to understand the areas in which digital challengers are struggling.
According to the report, at least 16 neobanks and digital banks have closed down around the world over the past couple of years, most often due to their inability to develop a sustainable revenue spurt and secure funding.


In particular, the research found that the US saw a majority of independent neobanks struggling to survive.
Denizen, a San Francisco-based challenger bank incubated out of BBVA’s New Digital Business Unit, shut down in 2019 after just one year of operation. According to WhiteSight, the neobank, which provided a global, borderless account for expat banking, faced difficulties in achieving the scale required to sustain operations.
For Beam Financials, an American mobile savings app, the business’ closure was forced by regulators. In 2021, the company ceased operations under a tentative settlement with the Federal Trade Commission (FTC) after a 2020 CNBC investigation revealed that dozens of customers were unable to get their money out.
The company was mandated to refund approximately US$2.6 million in customer deposits and interest, and banned from operating a mobile banking app or any other product or service that could be used to deposit, store, or withdraw funds. It also was prohibited from misrepresenting the interest rates, restrictions, and other aspects of any financial product or service.
Beyond the US, other regions including Asia-Pacific (APAC) and Europe, have also recorded notable business failures.
In India, Yelo Bank ceased operations in 2021 after failing to find product-market fit and raise follow-on funding. Prior to its closure, Yelo Bank, which focused on gig workers, had raised over US$80 million and had garnered more than 4 million downloads on its app.
In Australia, at least two licensed challenger banks had to shut down after unsuccessful fundraising efforts and failing to develop sustainable revenue streams.
Digital bank Xinja, which managed to amass more than 37,000 customers, collapsed when it started paying customers interest on their deposits before earning income from lending.
In late 2020, the company announced that it would discontinue its transaction and savings account products, and return its authorized deposit-banking institution license, citing “COVID-19 and an increasingly difficult capital-raising environment affecting who is willing to invest in a new bank” as the main reasons why it is pivoting away from being a bank.
Rival Volt Bank has suffered the same fate, announcing in June 2022 that it would shut down, returning deposits and selling its mortgage book after failing to raise sufficient funds to support the business.
Volt Bank was the first startup to gain a banking license back in 2019, and had raised a total of A$212 million before closing down.
In the UK, neobanking apps Loot and Dozens went out of business in 2019 and 2022, respectively, after running out of cash. Loot, which offered a digital-only current account aimed at students and millennials, had around 250,000 registered accounts, and Dozens, a banking app offering a slew of budgeting and analytics tools to help users to save and invest more efficiently, claimed some 60,000 customers.
Neobanks failures and setbacks by country, Source: WhiteSights, 2022
Besides business closures, the WhiteSight research also looks at notable challenges and stumbles faced by neobanks, noting that a number of players have put an halt on their expansion plan, focusing instead of trimming unnecessary spending and profitability.
German licensed digital bank N26 closed its UK operations in 2020 citing difficulties created by Brexit, and in 2022, it pulled out of the US after acknowledging that the investment and management time required in the country was leaving N26 too stretched.
N26 served about 200,000 customers in the UK and 500,000 in the US.
In the US, Solid, formerly known as Wise, pivoted in 2020 from small and medium-sized enterprise (SME)-focused neobanking to embedded business banking. Today, the company provides a digital banking stack built for platforms and banks, focusing on opportunities in the embedded finance and banking-as-a-service (BaaS) spaces.
Neobanks failures and setbacks by category, Source: WhiteSights, 2022
Despite being one of the most talked-about fintech segments of the past decade, neobanks have struggled with profitability. Consulting firm Simon-Kucher estimates that only a mere 5% of the world’s reported 400 digital banks are actually reaching breakeven, with most earning less than US$30 in revenue per customer per year. Moreover, cash burn rates are stellar for several banks, with annual losses exceeding US$100 million in some cases.

Featured image credit: Edited from freepik
]]></description><link>https://fintechnews.eu/neobanks-face-setbacks-amid-high-cash-burns-and-little-revenue-streams</link><guid>2777</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Neobanks Face Setbacks Amid High Cash Burns and Little Revenue Streams</dc:text></item><item><title>Swiss Employee Insurance Startup Secures Pre-Seed Funding from Wingman and Tomahawk</title><description><![CDATA[grape, the neoinsurer for employee insurances, has raised CHF 1.7 million in a pre-seed funding round to expand its digital insurance product and grow the team. The round is led by Swiss venture capital firm Wingman Ventures, with participation from the FinTech funds Tomahawk.VC and DD Venture Capital.
The Insurtech startup grape provides their own digital employee insurances to enterprise customers. Their insurances are bundled with a B2B SaaS product that saves the insured companies time managing their coverages and claims. Moreover, grape is the first insurer to directly reinvest into prevention services supporting the health of their customer’s employees through their benefits and paid therapy sessions.
Founded in November 2021 by Gregory Inauen and Fabian Mächler, grape has obtained its insurance license as an MGA in record time. Now the ETHZ startup has raised a CHF 1.7 million oversubscribed pre-seed financing round to fuel its growth and expand the product. The round is led by Wingman Ventures with participation from the FinTech funds Tomahawk.VC and DD Venture Capital.


Gregory Inauen
“grape is the first employee insurer built around a full-stack technology platform and a relentless focus on being more than just an insurance”,
says Gregory Inauen, Co-founder of grape.
grape’s software product allows their customers to enable a variety of automations that reduce administrative work, such as for claiming, reporting, and payroll adjustments. So far grape has built over 20 integrations into different HR tools which can be synced within seconds with their platform. All the employees that are covered with grape can access a wide range of benefits, coachings and therapy sessions to improve their physical and mental health.
Lukas Weder
Lukas Weder, Founding Partner of Wingman Ventures states:
“The Insurtech world finds itself still in its early days. However, the insurance sector is one of the largest industries globally that now shows clear signs that new massive businesses can emerge. Grape’s approach to fully digitizing and automating the underwriting and claims handling process by integrating their technology into their customer’s processes is precisely what insurance customers expect from the next generation of insurance products.”
The group insurances for health, accident and life reached a market size of over $5tn in 2021. But it’s also an industry ripe for disruption — a few massive insurance giants dominate most companies’ employee benefit packages, and they’re grape’s main competitors. The big giants are considerably lagging behind. Much of the work in this sector is still done manually, through paperwork, phone calls which leads to delays, mistakes and intransparency. Traditional insurer do not only waste time and money managing their sick leave policies, accident claims and pensions plans, but through all these manual processes they also lack data to improve their underwriting and are mainly focused on fighting claims rather than preventing them in the first place.
The Zurich-based Insurtech uses technology not only to provide a simple and better solution to all of these problems and inefficiencies but also to prevent them in the first place. De facto, the startup is aiming, on one side, to make insurance processes as streamlined and efficient as possible and additionally, if not most importantly, to go beyond insurance and be a health partner that supports the team’s mental and physical well-being in a way that will prevent leaves, burnouts, and lost costs. With the technology at its core, grape embarks on the mission to reinvent employee insurances.

Featured image credit: Left to right: Noel Walter, Mirko Hess, Jack Wilkinson, Fabian Mächler, Nico Hänggi, Pascal Küng, Gregory Inauen, Ardennes Ornati (Image Credits: Nicolas Küng)
]]></description><link>https://fintechnews.eu/swiss-employee-insurance-startup-secures-pre-seed-funding-from-wingman-and-tomahawk</link><guid>2776</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Swiss Employee Insurance Startup Secures Pre-Seed Funding from Wingman and Tomahawk</dc:text></item><item><title>Der DACH Krypto-Ländervergleich</title><description><![CDATA[Die grosse Mehrheit kennt Kryptowährungen, doch nur wenige nutzen sie. Immerhin 28 Prozent der Schweizerinnen und Schweizer halten sie jedoch grundsätzlich für eine geeignete Anlageform, wie eine neue YouGov-Umfrage im Auftrag der Management- und Technologieberatung BearingPoint zeigt.
Kryptogeld kennt fast jeder, aber nur ganz wenige nutzen es
In der Schweiz und in Österreich ist der Anteil derjenigen, denen Kryptowährungen unbekannt sind, am geringsten (jeweils 7 Prozent). In Deutschland hat nur jeder Zehnte noch nie von Kryptowährungen gehört, in Frankreich sind es 14 Prozent. Gleichzeitig liegt die Zahl der Personen, die sich mit Kryptogeld gut auskennen und es nutzen, weiterhin im einstelligen Bereich. So sind es in der Schweiz und in Deutschland nur 8 Prozent und 9 Prozent in Österreich. Am geringsten ist die Zahl der Nutzerinnen und Nutzer in Frankreich. Dort verwenden gerade einmal 3 Prozent Kryptowährungen.


Mehrheit glaubt nicht an Ablösung staatlicher Währungen durch Kryptowährungen
Dass Kryptogeld in Zukunft die staatlichen Währungen ablöst, halten 72 Prozent der Schweizer für wenig wahrscheinlich. Damit ist die Skepsis hierzulande am kleinsten. In Deutschland (81 Prozent), Österreich (78 Prozent) und Frankreich (73 Prozent) fallen die Ergebnisse etwas höher aus. Im Länderdurchschnitt ist das Vertrauen in Kryptowährungen hinsichtlich der Preisstabilität aber gering (22 Prozent). Den Franken bzw. den Euro hält man für preisstabiler (68 Prozent). Am stärksten vertrauen die Menschen dem Gold bzw. dem Goldpreis (87 Prozent).
Marco Kundert
“Im Vergleich mit den Nachbarländern sind wir Schweizerinnen und Schweizer den Kryptowährungen gegenüber am aufgeschlossensten. Trotzdem ist der Anteil der Nutzer mit 8 Prozent noch sehr überschaubar. Gründe dafür sind die hohe Volatilität, fehlende Sicherheit bei der Verwahrung und Ungewissheit zukünftiger Regulierung. Gleichzeitig gibt die Mehrheit der Schweizer Bevölkerung an, einen digitalen Franken zukünftig für Zahlungen einsetzen zu wollen. Die Akteure des Schweizer Finanzplatzes sollten daher gemeinsam die Innovation weiter vorantrieben und die Aufgeschlossenheit der Schweizerinnen und Schweizer nutzen.”
meint Marco Kundert, Partner bei BearingPoint
Jede(r) Fünfte hält die Digitalisierung des Franken für eine gute Idee
Die Schaffung einer digitalen Zentralbankwährung, also des digitalen Frankens bzw. Euros, hält im Schnitt jeder fünfte Befragte für sinnvoll. Am stärksten haben hier die Befragten in der Schweiz und Österreich zugestimmt (jeweils 22 Prozent), etwas geringer in Deutschland (19 Prozent) und Frankreich (18 Prozent). Nur in der Schweiz würde mit 56 Prozent die Mehrheit eine digitale Zentralbankwährung im Alltag nutzen. Die Deutschen würden den digitalen Euro im Alltag am allerwenigsten nutzen, wenn es ihn gäbe: 36 Prozent der Deutschen halten das für wahrscheinlich, in Österreich und Frankreich jeweils 43 Prozent.
Privat hält man sich bei der Investition in Kryptowährungen zurück
Insgesamt sind die Menschen noch sehr zögerlich bei Investitionen in Kryptogeld. Die überwiegende Mehrheit der Befragten in der Schweiz – 79 Prozent – hat noch nie ihr Geld in Kryptowährungen angelegt. In Deutschland haben 81 Prozent noch nicht in Kryptowährungen investiert, in Österreich 80 Prozent. Frankreich bildet mit 86 Prozent das Schlusslicht. Wer es schon getan hat, ging dabei in allen Ländern den unmittelbaren Weg: 7 Prozent aller Befragten handeln direkt an der Krypto-Börse. Nur 3 Prozent gehen dafür über das Depot der eigenen Hausbank, jeweils 5 Prozent über das Depot bei einem Online-Broker oder bei einem spezialisierten Krypto-Broker.
Anlageform: Gold weiterhin Spitzenreiter
Gold ist für über 80 Prozent der Befragten in allen Ländern weiterhin die geeignetste Anlageform, gefolgt von Aktien (inklusive Fonds) und staatlichen Währungen wie Bargeld, Anleihen, Tagesgeldern oder Geldmarktfonds. In der Schweiz halten 87 Prozent der Bevölkerung Gold für eine grundsätzlich geeignete Anlageform. In Österreich stimmen mit 91 Prozent sogar noch mehr Menschen zu, wenn es darum geht, mit Gold das eigene Vermögen zu erhalten.
Aber auch in Deutschland (83 Prozent) und in Frankreich (80 Prozent) hält man das Edelmetall für eine gute Geldanlage. Kryptogeld steht hinter Gold, Aktien und staatlichen Währungen an letzter Stelle. Immerhin vertrauen ihm aber im Länderdurchschnitt noch 25 Prozent der Menschen. Die Schweiz führt mit 28 Prozent, wenn es um die Eignung von Kryptowährungen als Anlageform geht. Deutschland bildet mit 22 Prozent die Nachhut, Österreich (24 Prozent) und Frankreich (25 Prozent) stehen im Mittelfeld.
Attraktivität von Kryptogeld liesse sich durch Zugang per Hausbank erhöhen
Wie in Kryptowährungen anlegen? Jeder zehnte Befragte hält die Investition aus dem Depot bei der eigenen Hausbank für die attraktivste Wahl. Das ist von allen Investitionsmöglichkeiten die am stärksten begehrte und liegt vor der Direktinvestition bei einer Kryptobörse, dem Online-Broker oder dem spezialisierten Krypto-Broker. Hier unterscheiden sich die Erfahrenen in Sachen Kryptogeld von den Unerfahrenen.
So sind nur 3 Prozent der Schweizer, die schon in Kryptowährungen angelegt haben, den Weg über die Hausbank gegangen. Wer noch nicht investiert hat, würde das zuallererst bei der Hausbank tun. Hier ist der Wert mit 13 Prozent im Vergleich zu denen, die schon investiert haben mehr als viermal so hoch. Auch in Österreich, Frankreich und Deutschland sind die Zahlen ähnlich: Die Hausbank ist für die Anlage-Interessierten attraktiv. Zusätzlich wissen 12 Prozent der Schweizer nicht, wie sie in Kryptowährungen investieren können.

]]></description><link>https://fintechnews.eu/der-dach-krypto-landervergleich</link><guid>2775</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Der DACH Krypto-Ländervergleich</dc:text></item><item><title>Berlin and London Named Amongst Europe’s Top 5 Fintech Hubs</title><description><![CDATA[Deep Ecosystems, a Germany-based accelerator for ecosystem projects, have released its 7th edition of the Startup Heatmap Report, ranking Europe’s top 50 most popular startup hubs in the continent.
The ranking is based on a survey that polled more than 24,000 pre-selected founders equally distributed over Europe to understand their sentiments on local startup landscapes. Results were compiled in a report, giving a detailed view of each European tech hubs in the region and featuring insights about investments, internationalization patterns and founder sentiments.
This year again, Berlin and London ranked at the top of the list, selected by European founders as the best cities in the continent to launch a startup. These two locations were recognized for their business-friendly regulations, easy access to funding, and dynamic startup ecosystems. They were also named among Europe’s top five fintech hubs.


Top 10 most popular startup hubs in Europe, Source: Startup Heatmap Report, Deep Ecosystems
Berlin: Europe’s top tech hub
Berlin received a solid 37% of founders’ vote, indicating that more than every third founder in Europe could imagine starting their company in the German capital. Respondents highlighted the city’s thriving startup community, strong support network of academic institutions, large corporates, and innovative communities, as well as growing availability of capital.
Not only is Berlin founders’ preferred location in Europe to launch a startup, it’s also a major fintech hub in the region that’s ranked by Deep Ecosystems as one of Europe’s top five fintech ecosystems. Similarly, the Global Fintech Index 2021 listed the German capital at first place in the European Union (EU) last year, ahead of Amsterdam, Stockholm and Frankfurt.
The Berlin startup map shows over 900 fintech companies in the city, among which unicorn startups N26, a digital bank worth US$9.25 billion, Trade Republic, a neobroker valued US$5.36 billion, and Wefox, an insurtech startup worth US$4.5 billion, data from CB Insights show. N26, Trade Republic and Wefox are also Berlin’s most valuable private companies, showcasing the city’s vibrant fintech scene.
This year, fintech funding in the city has so far remained strong, with large rounds being reported in H1 2022. These include Wefox’s US$400 million Series D, Trade Republic’s EUR 250 million Series C extension, Payhawk’s US$100 million Series B, and Vivid Money’s EUR 100 million Series C.
London: a fintech powerhouse
After Berlin, London took the second position in the ranking, selected by 33% of the founders polled by Deep Ecosystems as one of the top two places they could imagine starting a tech company in. Respondents pointed out London’s business-friendly regulations, industry networks and easy access to funding as the city’s biggest strengths.
Like Berlin, London was also recognized for being one of Europe’s top five fintech ecosystems, acknowledged by the community for its culture of creativity, supportive regulators, and a pipeline of diverse digital and financial talent.
Data from City of London Corporation, Findexable and Mambu, show that London hosts a massive number of fintech companies, with 1,230 firms headquartered in the city. The figure means that nearly half of the UK’s fintech companies (over 2,500) are based in the capital city.
Further demonstrating London’s fintech leadership, data from CB Insights show that of the 36 tech unicorn startups headquartered in the city, 24 are fintech companies, among which Checkout.com (worth US$40 billion), Revolut (US$33 billion), Blockchain.com (US$14 billion), Rapyd (US$8.75 billion) and SumUp (US$8.5 billion).
In 2022, investors continued to remain bullish on the local fintech industry, with rapidly growing startups closing massive rounds of funding. Checkout.com, an international payment platform, raised US$1 billion in a Series D funding round, GoCardless, an account-to-account payments specialist, closed a US$312 million Series G, and PayFit, a payroll and human resources (HR) software provider, raised EUR 254 million in a Series E. Both GoCardless and PayFit reached unicorn status after closing their fundraising rounds.

Featured image credit: edited from Pexels
]]></description><link>https://fintechnews.eu/berlin-and-london-named-amongst-europes-top-5-fintech-hubs</link><guid>2773</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Berlin and London Named Amongst Europe’s Top 5 Fintech Hubs</dc:text></item><item><title>Open Banking Adoption: 1578 Banking Platforms and 5564 APIs Worldwide</title><description><![CDATA[Around the world, open banking adoption is rising steadily, embraced by a growing number of banks and fintech companies to provide innovative financial products and tap into new market segments.
A new report by Platformable, a Barcelona-based startup building data products and digital tools, looks at the latest developments in the global open banking/open finance scene, delving into emerging trends and key enablers of the sector’s growth.
According to the research, 2022 has so far been a fructuous year for the open banking industry. Among the key trends observed this year, the report notes that in Q2 2022, the number of open banking platforms and APIs available continued to rise, indicating rising adoption across stakeholders. Banks, meanwhile, pursued new business models and opportunities, including banking-as-a-service (BaaS) offerings and partnership models, and fintech companies continued to leverage banking APIs to innovate and launch new products.


1,578 open banking platforms and 5,564 APIs worldwide
As of the end of Q2 2022, Platformable identified 1,578 banking platforms making APIs available, representing an annual growth of 8%. Collectively, these bank platforms made 5,564 open banking API products available to third parties, up from 4,831 in Q1 2022.
Europe remained at the forefront, accounting for 73.5% of the world’s open banking platforms (1,160), and 45.6% of available open APIs (2,537) as of the end of Q2 2022.
Though Europe led in terms of absolute numbers, platforms and products, Asia-Pacific (APAC) saw the strongest platform growth, with open banking platforms growing 44% in Q2 2022 year-on-year (YoY) to 203, a rise which was largely coming from Australia, Hong Kong, Indonesia and the Philippines, the research found.
Global open banking API platforms and their API products, Source: Open Banking/Open Finance Trends Q3 2022, Platformable
Open banking regulations advance
As of Q2 2022, 80 countries had open banking regulations in place, while 75 were either near or in implementation stages of open banking rules.
Europe and the UK made progresses towards an open finance framework. In Latin America, countries including Brazil, Argentina and Chile, continued laying out their national framework, providing greater clarity and rules for interoperability, mandating account aggregation capabilities, and introducing fintech laws.
In the Middle East and Africa, Bahrain issued amendments to its Open Banking rulebook, and Nigeria published open banking draft guidelines. And in APAC, India unveiled plans to share personal income data and opening e-government tools for global interested parties.
Current progress of open banking regulations around the globe Q2 2022, Source: Open Banking/Open Finance Trends Q3 2022, Platformable
API product diversification
In Q2 2022, API products rose 15% YoY with the largest growth witnessed in Latin America (LatAm) (56%), North America (35%), the UK (27%) and Asia Pacific (24%).
Though most open banking APIs provided by financial institutions still remain mandated payments, accounts and bank products, other non-mandated APIs are growing fast, including know-your-customer (KYC) and identity, credit services, and trading, the research found, indicating that banks are keen on expanding their API offerings and embracing the trend.
Growth of API products, Source: Open Banking/Open Finance Trends Q3 2022, Platformable
Banks explore new business models
Banks are actively exploring new business models using APIs, including partnership programs, paid premium APIs, startup funding and mentorship programs, and BaaS offerings, the research found. Some, like the UK’s Starling Bank, Singapore’s DBS Bank and Brazil’s Banco do Brasil (BB), have gone a step further, embracing an open ecosystem approach and offering marketplaces that include third party apps and providers.
BB’s API program, for example, is split into two streams: BB’s open ecosystem and its Open Finance Brasil APIs offering which lists some third-party providers, and the bank’s own API portfolio of over 20 APIs under partnership and BaaS models.
Deutsche Bank is betting big on embedded finance, providing a wide range of APIs and embedded finance options. Deutsche Bank’s developer portal contains APIs for all banking sectors, as well as sandbox and productions environments.
Open banking boosts fintech innovation
Looking beyond banks’ platforms and APIs, the research found that open banking is helping foster fintech innovation more broadly, and helping develop domestic fintech ecosystems.
In the US, 82% of API-enabled fintech companies are homegrown, a proportion which stands at 70% in the UK (the lowest), implying that open banking is enabling greater homegrown fintech to emerge.
Platformable identified 2,854 API-enabled fintech products as of the end of Q2 2022, and though payment solutions remain the dominant category, representing about a third of all API-enabled fintech solutions, other categories and sub-categories are also emerging, including account keeping and budgeting apps, digital and open banking enablement solutions, private management solution, data, analytics and algorithms, as well as consumer loans and credit services.
Top 10 fintech using APIs by sub-category, Source: Open Banking/Open Finance Trends Q3 2022, Platformable
SMEs and individuals remain top target markets
The research found that fintech solutions that make use of bank APIs mainly target SMEs and individuals, accounting for 59% and 40% of all open banking fintech products globally, and are fairly generic in nature.
This implies that there is a huge opportunity gap to offer products that address specific customer segment needs, including immigrant workers, expatriates and freelancers, the report says.
Such products have nevertheless started to emerge, it notes, citing examples such as the US Viva First, a digital banking app for the Latino community in the US; Smile, a credit scoring platform for the Filipino workforce; and Yonder, a UK loyalty cards provider for expats.
Primary target market of fintech products, Source: Open Banking/Open Finance Trends Q3 2022, Platformable
An opportunity to improve financial inclusion
New technologies, including open banking and open finance, are driving down the costs of doing business and allowing a wider range of users to access financial services, introducing opportunities to help improve financial inclusion.
In Brazil, open banking is expected to bring 4.6 million more people into the formal credit market for the first time, expanding access to attractive borrowing rates, and inject BRL 760 billion (US$141 billion) into the economy, according to a recent study by Serasa Experian, a local credit research company.
Platformable estimates that 54% of existing fintech products built on open banking/open finance APIs could be used to address financial inclusion, highlighting the potential of open banking to drive social and economic development.

Featured image credit: Rawpixels
]]></description><link>https://fintechnews.eu/open-banking-adoption-1578-banking-platforms-and-5564-apis-worldwide</link><guid>2772</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Open Banking Adoption: 1578 Banking Platforms and 5564 APIs Worldwide</dc:text></item><item><title>CME Group to Launch Euro-Denominated Bitcoin and Ether Futures on August 29</title><description><![CDATA[CME Group, the world’s leading derivatives marketplace, announced it plans to further expand its cryptocurrency derivatives offering with the introduction of Bitcoin Euro and Ether Euro futures on August 29, pending regulatory review.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will be sized at five bitcoin and 50 ether per contract. These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether. These new futures contracts will be listed on and subject to the rules of CME.
Tim McCourt
“Ongoing uncertainty in cryptocurrency markets, along with the robust growth and deep liquidity of our existing Bitcoin and Ether futures, is creating increased demand for risk management solutions by institutional investors outside the U.S. Our Bitcoin Euro and Ether Euro futures contracts will provide clients with more precise tools to trade and hedge exposure to the two largest cryptocurrencies by market cap,”
said Tim McCourt, Global Head of Equity and FX Products, CME Group.


CME Group’s Cryptocurrency product suite continues to provide consistent liquidity, volume, and open interest for clients seeking to hedge their risk or gain exposure to the asset class. Q2 was a record quarter in terms of average daily open interest (106.2K contracts) and was the second highest quarter ever in terms of average daily volume (57.4K contracts) across all Cryptocurrency products. In addition, Ether futures achieved a record average daily volume of 6.6K contracts in Q2, up more than 27% versus Q1.
This article first appeared on fintechnews.am


Featured image credit: Edited from rawpixels
]]></description><link>https://fintechnews.eu/cme-group-to-launch-euro-denominated-bitcoin-and-ether-futures-on-august-29</link><guid>2768</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>CME Group to Launch Euro-Denominated Bitcoin and Ether Futures on August 29</dc:text></item><item><title>CME Group to Launch Euro-Denominated Bitcoin and Ether Futures</title><description><![CDATA[CME Group, the world’s leading derivatives marketplace, announced it plans to further expand its cryptocurrency derivatives offering with the introduction of Bitcoin Euro and Ether Euro futures on August 29, pending regulatory review.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will be sized at five bitcoin and 50 ether per contract. These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether. These new futures contracts will be listed on and subject to the rules of CME.
Tim McCourt
“Ongoing uncertainty in cryptocurrency markets, along with the robust growth and deep liquidity of our existing Bitcoin and Ether futures, is creating increased demand for risk management solutions by institutional investors outside the U.S. Our Bitcoin Euro and Ether Euro futures contracts will provide clients with more precise tools to trade and hedge exposure to the two largest cryptocurrencies by market cap,”
said Tim McCourt, Global Head of Equity and FX Products, CME Group.


CME Group’s Cryptocurrency product suite continues to provide consistent liquidity, volume, and open interest for clients seeking to hedge their risk or gain exposure to the asset class. Q2 was a record quarter in terms of average daily open interest (106.2K contracts) and was the second highest quarter ever in terms of average daily volume (57.4K contracts) across all Cryptocurrency products. In addition, Ether futures achieved a record average daily volume of 6.6K contracts in Q2, up more than 27% versus Q1.
This article first appeared on fintechnews.am


Featured image credit: Edited from rawpixels
]]></description><link>https://fintechnews.eu/cme-group-to-launch-euro-denominated-bitcoin-and-ether-futures</link><guid>2771</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>CME Group to Launch Euro-Denominated Bitcoin and Ether Futures</dc:text></item><item><title>Meta: Digital Collectibles to Showcase NFTs on Instagram</title><description><![CDATA[Starting this week on Instagram, Meta is testing digital collectibles with select US creators and collectors to share NFTs that they have created or bought.
Meta/Instagram started with the international expansion to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas. Additionally, they now support wallet connections with the Coinbase Wallet and Dapper, as well as the ability to post digital collectibles minted on the Flow blockchain.



In order to post a digital collectible, all you need to do is connect your digital wallet to Instagram. As of today, they support connections with third-party wallets including Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet coming soon. Supported blockchains at this time include Ethereum, Polygon and Flow. There are no fees associated with posting or sharing a digital collectible on Instagram.

This article first appeared on fintechnews.am

Featured image credit: Edited from rawpixels
]]></description><link>https://fintechnews.eu/meta-digital-collectibles-to-showcase-nfts-on-instagram</link><guid>2769</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Meta: Digital Collectibles to Showcase NFTs on Instagram</dc:text></item><item><title>Europe’s Forthcoming AI Act Will Have a Wide Reach and Broad Implications</title><description><![CDATA[Like the European Union (EU)’s General Data Protection Regulation (GDPR) that entered into force in 2016, the upcoming Artificial Intelligence (AI) Act will have extraterritorial scope and global impact.
Considering the AI Act’s broad scope and the financial risks relating to non-compliance, businesses must prepare for these future regulatory changes now and proactively take the initiatives to comply with best practices early on, according to a new whitepaper by Swiss data services company Unit8.
The paper, titled Upcoming AI Regulation: What to expect and how to prepare, delves into the EU’s forthcoming AI Act, providing insights into the future development of AI regulation in Europe and the potential implications for organizations worldwide.


The European Commission (EC) unveiled a proposal for a legal framework on AI in April 2021, seeking to address risks of specifically created by AI applications, proposing a list of high risk applications, setting clear requirements for AI systems for high risk applications and defining specific obligations for AI users and providers of high risk applications.
The proposed rules also propose a conformity assessment method for AI systems, propose enforcement after an AI system is placed in the market, and propose a governance structure at European and national level.
The legislation, which is expected to be implemented within the next two years, will apply to AI systems used or placed in the EU market, irrespective of whether the providers are based within or outside the EU. Obligations and requirements will not only be addressed to providers of AI systems, but also to stakeholders that use those systems or that are part of the value chain, such as manufacturers, importers and distributors, showcasing the wide reach of the regulation.
The AI Act will be complex and demanding, requiring businesses to proactive start preparing for the new rules early on. In particular, firms should start building up the required competencies, and establish partnerships with domain experts to ensure legal compliance, Unit8 recommends.
One area worth exploring is to establish a strong AI governance framework that would ensure that one’s AI investments are compliant from the get-go and that teams have strong guiding principles to develop AI systems, Unit8 advises. This would reduce refactoring costs and foster more effective AI development, it says.
In addition to a robust AI framework, organizations should also implement an effective AI risk management framework and team up with the right partners to conduct independent assessments and reviews.
Remaining compliant with the AI Act will be crucial for businesses, especially when considering the hefty financial penalties organizations that fail to comply will be exposed to, Unit8 warns. Violations of data governance requirements or non-compliance with the bans related to AI systems posing an unacceptable risk will be fined up to EUR 30 million or 6% of global annual company revenue.
Non-compliance with other provisions will be fined up to EUR 20 million or 4% of global annual company revenue, while providing wrong or misleading information to authorities can lead to up to EUR 10 million in fines or 2% of global annual revenue.
AI regulation efforts accelerate
The EC’s AI Act is the first law on AI to be proposed by a major regulator. The legislation has already started making waves internationally. In September 2021, Brazil’s Congress approved the AI Bill, a legal framework for AI.
Should it be signed into law, the bill will establish principles, duties and guidelines for developing and applying AI in the country. The bill will also harmonize with other important Brazilian legislation, such as the Brazilian Data Protection Law and the Brazilian Consumer Protection Code.
Just two months ago, the Canadian government introduced Bill C-27, a continuation of the government’s initiative to reform federal private sector privacy law. One of the key new elements in Bill C-27 is the proposed AI and Data Act (AIDA), which aims to regulate the development and encourage the responsible use of AI in the country.
Meanwhile, progress in China has moved significantly faster. In March, a new regulation governing the way online recommendations are generated through algorithms went into effect. The policy mandates companies to inform users if an algorithm is being used to display certain information to them. Consumers must be able to opt out of being targeted if they want to.
Global adoption of AI has considerably increased over the past years. A 2022 study conducted by Morning Consult on behalf of IBM found that 35% of companies are now using AI, a four-point increase from the year before. 42% of companies indicated exploring AI.
Chinese and Indian companies were found to be the biggest adopters of AI, with nearly 60% of IT professionals in those countries saying their organization already actively uses AI, compared with lagging markets like South Korea (22%), Australia (24%) the US (25%), and the UK (26%).
AI adoption rates around the world, Source: IBM Global AI Adoption Index 2022

Featured image credit: Edited from Freepik and Unsplash
]]></description><link>https://fintechnews.eu/europes-forthcoming-ai-act-will-have-a-wide-reach-and-broad-implications</link><guid>2770</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Europe’s Forthcoming AI Act Will Have a Wide Reach and Broad Implications</dc:text></item><item><title>Blackrock Ties up With Coinbase to Offer Its Clients Crypto Trading and Custody</title><description><![CDATA[Asset manager BlackRock has selected cryptocurrency exchange platform Coinbase to provide the institutional clients of Aladdin®, BlackRock’s end-to-end investment management platform, direct access to crypto starting with bitcoin.
Coinbase Prime will provide crypto trading, custody, prime brokerage, and reporting capabilities to Aladdin’s institutional client base who are also clients of Coinbase.
Built for institutions, Coinbase Prime integrates advanced agency trading, custody, prime financing, staking, and staking infrastructure, data, and reporting that supports the entire transaction lifecycle.


BlackRock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients.
Access is available for institutions contracted with both Aladdin and Coinbase.
“Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets.

This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.”
said Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock.


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/blackrock-ties-up-with-coinbase-to-offer-its-clients-crypto-trading-and-custody</link><guid>2767</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/08/Reuters-Future-of-Insurance-Europe-2022.png?x30842</dc:content ><dc:text>Blackrock Ties up With Coinbase to Offer Its Clients Crypto Trading and Custody</dc:text></item><item><title>Europe Leads in Climate Fintech Driven by Supportive Policies, Government Initiatives</title><description><![CDATA[Europe is rising to leadership in the field of climate fintech, a position evidenced by the region’s large community of startups leveraging technology to address both sustainability and finance needs.
This rise has been driven by a supportive policy context and the multitude of initiatives introduced by governments across the continent to foster innovation in green finance, a new report by Swiss fintech and insurtech startup incubator and accelerator F10 says.
The Climate Fintech Report 2022, released in June, sheds some light on the global climate fintech industry, identifying over 400 climate fintech startups globally. Of these, 229 are based in Europe, the Middle East and Africa (EMEA), making the region the biggest climate fintech ecosystem in the world. EMEA leads North America, where 120 climate fintech companies are based, North America (120), Asia-Pacific (APAC) (43), and Latin America (six).


Regional numbers of climate fintechs, Source: Climate Fintech Report 2022, F10
Delving deeper into the geographical distribution of climate fintech startups, the research found that, although the US hosts the most climate fintech companies than any single country (108), Europe takes the cake from a regional volume perspective with the UK (57), Germany (30), Switzerland (29), France (23), Sweden (21), Spain (16), the Netherlands (13) and Denmark (eight) ranked among the world’s top ten largest climate fintech hubs.
Top countries by number of climate fintechs, Source: Climate Fintech Report 2022, F10
Europe’s burgeoning climate fintech ecosystem can in part be explained by the region’s more progressive top-down climate finance policy-making, the report says, with initiatives such as the European Green Deal, a set of policy initiatives approved in 2020 with the overarching aim of making the European Union (EU) climate neutral in 2050, as well as the implementation of implementation of the Sustainable Finance Disclosures Regulation (SFDR), which mandate climate disclosures by companies.
Switzerland’s climate fintech ecosystem
Ranked fourth globally in terms of total number of climate fintech companies, Switzerland is home to a thriving climate fintech space that’s been facilitated by supportive initiatives and promotion efforts by the government, the report says.
These initiatives include the establishment of the Green Fintech Network, set up in November 2020, and the subsequent release of the Green Fintech Action Plan in 2021. Most recently, the Federal Council launched a new system that measures the environmental impact of financial investments.
Currently, Switzerland’s climate fintech startup ecosystem comprises 29 companies, among which 12 that specialize in digital investment solutions. This makes digital investment solutions the most crowded segment in the Swiss climate fintech industry, followed by digital asset solutions (7), and environmental, social and corporate governance (ESG) data and analytics (4). Digital payments and account solutions, digital deposit and lending, and digital risk analysis and insurtech rank last with two startups each.
Switzerland’s climate fintech startups, Source: Climate Fintech Report 2022, F10
Two Swiss climate fintech startups are highlighted in the report: Mympact, an app that uses open banking to help people track their CO2-footprint across accounts, and motivate them to reduce their environmental impact with tips, challenges and more; and Inyova, a platform that allows customers to invest their savings in a way that’s consistent with their values and lifestyle, focusing on themes like renewable energy, electromobility, medical technology, gender equality, human rights and more.
Climate fintech startups and funding trends
Globally, climate fintech remains a rather nascent industry, the report says, a state that’s evidenced by the prominence of seed and Series A funding rounds.
ESG data and analytics is the most advanced and represented segment, with 88 startups in the space out of the world’s 400+ climate fintech companies.
ESG data and analytics is followed by digital investment solutions (85), digital payment and account solutions (77), digital asset solutions (46), digital deposit and lending solutions (36), digital crowdfunding and syndication platforms (35), digital risk analysis and insurtech (30) and regulatory reporting (5).
Number of climate fintechs according to category, Source: Climate Fintech Report 2022, F10
Looking at funding trends, the report notes that investment into climate fintech reached a new record in 2021, amassing a total of EUR 1.4 billion. The amount represents more than half of all investment ever raised by the industry (EUR 2.7 billion).
So far, much of climate fintech funding has focused on startups in digital risk analytics and insurtech, which have raised a total of EUR 716 million so far. The category is followed by ESG data and analytics solutions (EUR 514 million), digital investment solutions (EUR 442 million) and digital payment and account solutions (EUR 427 million).
Total funding of climate fintechs per category, Source: Climate Fintech Report 2022, F10
Funding activity in 2022 so far suggests that the momentum will likely continue this year. In February, San Francisco-based Watershed closed one of the largest funding rounds in the space, according to Crunchbase, raising a US$70 million Series B funding round. Watershed operates a platform that helps companies like Stripe, Spotify, Klarna, and Airbnb, measure, reduce, and report their carbon emissions with real-time, audit-grade emissions data.
Just last month, Xpansiv, a global carbon and environmental exchange commodities platform, raised US$400 million from Blackstone. Xpansiv connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits, and low-carbon fuels.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/europe-leads-in-climate-fintech-driven-by-supportive-policies-government-initiatives</link><guid>2766</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Europe Leads in Climate Fintech Driven by Supportive Policies, Government Initiatives</dc:text></item><item><title>IDnow Secures New €60 Million Debt Facility by Blackrock</title><description><![CDATA[IDnow, a leading identity proofing and digital identity provider based in Munich, has successfully arranged a new debt facility from funds and accounts managed by BlackRock that provides up to €60 million in financing.
The debt facility will enable IDnow to leverage its existing market-leading identity platform. The company intends to use the capital to scale investments across a range of strategic initiatives including the introduction of new identity proofing solutions, continued geographic expansion, and potential acquisitions.
IDnow was founded in 2014 in Germany and offers a comprehensive suite of identity proofing solutions addressing a wide range of mission-critical use cases from low to high assurance levels. IDnow serves over 900 sector-leading enterprise customers across multiple verticals with coverage of 195 countries.


Andreas Bodczek
Andreas Bodczek, CEO of IDnow states:
“We are proud to have been able to raise financing to support IDnow’s business objectives to further grow the company. Securing this debt facility from BlackRock reflects their high confidence in the strength of our business. The funding comes at the perfect time for IDnow to continue driving our ambitious growth strategy and we look forward to working with BlackRock.”
Joe Lichtenberger
Joe Lichtenberger, CFO of IDnow added:
“This financing facility caps a string of commercial successes that continue to propel IDnow’s strong growth. The facility will allow us to continue investments in our growth areas. BlackRock is a great partner for IDnow going forward.”



Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/idnow-secures-new-60-million-debt-facility-by-blackrock</link><guid>2764</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>IDnow Secures New €60 Million Debt Facility by Blackrock</dc:text></item><item><title>Spain’s Forthcoming Digital Nomad Visa Aims to Attract Remote Workers, Tech Entrepreneurs</title><description><![CDATA[Last year, the Spanish government approved a draft law aimed at encouraging the development of a thriving startup ecosystem. Better known as the Startups Law, the legislation seeks to make Spain one of the most attractive destinations for investment, talent, and innovative entrepreneurs.
Among the key propositions, the law aims to provide tax breaks, eliminate red tape and make procedures more flexible to encourage the creation of and investment in tech startups. It also includes critical initiatives to attract international experts and bring back Spanish talent, and encourage “digital nomads,” remote workers and entrepreneurs to settle in Spain.
Through a special visa scheme, foreigners working remotely and their close family members will be able to reside in Spain for five years, and be eligible for a special tax regime with lower rates, paying Non-Resident Income Tax. With the aim of drawing talent back to Spain, the general requirements for eligibility in this regime will be eased with the requirement for previous non-residence in Spain reduced from ten to five years.


image via Unsplash
Spain’s Startup Law hasn’t come into force yet, meaning that the so-called digital nomad visa scheme is still not up and running. But based on information garnered from the draft law by Telework Andalucia, a company that provides legal advice to remote workers and digital nomads in Andalusia, the following elements are amongst the key benefits and implications which can be expected from Spain’s forthcoming digital nomad visa:

Digital nomads who come to Spain to work for a local startup, work independently or are digital entrepreneurs will benefit from streamlined visa processing.
Specific visa schemes will be launched to cover different profiles. All will benefit from favorable taxation and a lower tax rate. The tax regime of the Non-Resident Income Tax will be applicable to managers and employees of startups, investors and digital nomads and will provide visa holders and their family members with the ability to access a special visa of up to five years.
Non-resident Spanish nationals and expatriates who have been abroad for more than five years will also be eligible for the digital nomad visa. The period of enjoyment for them will be extended from five to ten years, and their family members will be able to benefit from it.
Non-Resident Income Tax will be reduced from 25% to 15% during the first four years. It’s worth noting that anyone residing in Spain for more than 183 days are considered by the law as a resident, and are liable to pay tax on all the revenues they earn, regardless of where that money comes from. This means that there are risks of double taxation for nationals from countries which Spain hasn’t signed a double taxation agreement with.

Spain’s Startups Law is currently facing parliamentary processing, and is expected to come into force later this year.
Digital nomad visa schemes proliferate
Spain is following on the lead of other countries around the world that have recognized the need to change immigration laws to attract foreign talents and align with changing working standards.
Last year, Croatia introduced a digital nomad visa program that allows third-party nationals from countries outside of the European Union (EU), European Economic Area (EEA) and Switzerland, to stay in Croatia from six months up to a year. These remote workers are allowed to apply for a one-year residence permit after arrival, are not subject to income tax, but aren’t allowed to provide services to Croatian businesses during their stay in the country.
Malta, Cyprus and Greece are other EU countries that launched in 2021 special residency permits targeted at foreign remote workers. Malta’s Nomad Residence Permit enables holders to retain their current employment based in another country while legally residing in Malta for up to a year. Like in Croatia, they are exempted from income tax for a year. Cyprus’ Digital Nomad Visa Scheme Greece’s Digital Nomad Visa are similar programs that allow holders to reside legally in the country with their family members for up to a year, with a possibility of renewal for further two years.
Georgia, Iceland, Costa Rica and Dubai are other juridictions that provide arrangements for foreign remote workers.
Since Estonia introduced the first digital nomad visa back in 2020, at least 25 other countries and territories in Europe, Africa, Asia, and Latin America and the Caribbean have launched their own programs, according to a new report by the Migration Policy Institute, a trend that accelerated during COVID-19, amid travel restrictions, lost tourism revenues, and widespread adoption of remote work practices.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/spains-forthcoming-digital-nomad-visa-aims-to-attract-remote-workers-tech-entrepreneurs</link><guid>2762</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Spain’s Forthcoming Digital Nomad Visa Aims to Attract Remote Workers, Tech Entrepreneurs</dc:text></item><item><title>Spain’s Digital Nomad Visa Aims to Attract Remote Workers, Tech Entrepreneurs</title><description><![CDATA[Last year, the Spanish government approved a draft law aimed at encouraging the development of a thriving startup ecosystem. Better known as the Startups Law, the legislation seeks to make Spain one of the most attractive destinations for investment, talent, and innovative entrepreneurs.
Among the key propositions, the law aims to provide tax breaks, eliminate red tape and make procedures more flexible to encourage the creation of and investment in tech startups. It also includes critical initiatives to attract international experts and bring back Spanish talent, and encourage “digital nomads,” remote workers and entrepreneurs to settle in Spain.
Through a special visa scheme, foreigners working remotely and their close family members will be able to reside in Spain for five years, and be eligible for a special tax regime with lower rates, paying Non-Resident Income Tax. With the aim of drawing talent back to Spain, the general requirements for eligibility in this regime will be eased with the requirement for previous non-residence in Spain reduced from ten to five years.


image via Unsplash
Spain’s Startup Law hasn’t come into force yet, meaning that the so-called digital nomad visa scheme is still not up and running. But based on information garnered from the draft law by Telework Andalucia, a company that provides legal advice to remote workers and digital nomads in Andalusia, the following elements are amongst the key benefits and implications which can be expected from Spain’s forthcoming digital nomad visa:

Digital nomads who come to Spain to work for a local startup, work independently or are digital entrepreneurs will benefit from streamlined visa processing.
Specific visa schemes will be launched to cover different profiles. All will benefit from favorable taxation and a lower tax rate. The tax regime of the Non-Resident Income Tax will be applicable to managers and employees of startups, investors and digital nomads and will provide visa holders and their family members with the ability to access a special visa of up to five years.
Non-resident Spanish nationals and expatriates who have been abroad for more than five years will also be eligible for the digital nomad visa. The period of enjoyment for them will be extended from five to ten years, and their family members will be able to benefit from it.
Non-Resident Income Tax will be reduced from 25% to 15% during the first four years. It’s worth noting that anyone residing in Spain for more than 183 days are considered by the law as a resident, and are liable to pay tax on all the revenues they earn, regardless of where that money comes from. This means that there are risks of double taxation for nationals from countries which Spain hasn’t signed a double taxation agreement with.

Spain’s Startups Law is currently facing parliamentary processing, and is expected to come into force later this year.
Digital nomad visa schemes proliferate
Spain is following on the lead of other countries around the world that have recognized the need to change immigration laws to attract foreign talents and align with changing working standards.
Last year, Croatia introduced a digital nomad visa program that allows third-party nationals from countries outside of the European Union (EU), European Economic Area (EEA) and Switzerland, to stay in Croatia from six months up to a year. These remote workers are allowed to apply for a one-year residence permit after arrival, are not subject to income tax, but aren’t allowed to provide services to Croatian businesses during their stay in the country.
Malta, Cyprus and Greece are other EU countries that launched in 2021 special residency permits targeted at foreign remote workers. Malta’s Nomad Residence Permit enables holders to retain their current employment based in another country while legally residing in Malta for up to a year. Like in Croatia, they are exempted from income tax for a year. Cyprus’ Digital Nomad Visa Scheme Greece’s Digital Nomad Visa are similar programs that allow holders to reside legally in the country with their family members for up to a year, with a possibility of renewal for further two years.
Georgia, Iceland, Costa Rica and Dubai are other juridictions that provide arrangements for foreign remote workers.
Since Estonia introduced the first digital nomad visa back in 2020, at least 25 other countries and territories in Europe, Africa, Asia, and Latin America and the Caribbean have launched their own programs, according to a new report by the Migration Policy Institute, a trend that accelerated during COVID-19, amid travel restrictions, lost tourism revenues, and widespread adoption of remote work practices.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/spains-digital-nomad-visa-aims-to-attract-remote-workers-tech-entrepreneurs</link><guid>2763</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Spain’s Digital Nomad Visa Aims to Attract Remote Workers, Tech Entrepreneurs</dc:text></item><item><title>Swiss Blockchain-Insurtech Jarowa Raises CHF 12.4 Million Series A for Europe Expansion</title><description><![CDATA[JAROWA is a Swiss digital marketplace and transaction platform for insurance companies, property managers, and leasing companies to manage their trusted service providers and digital orders more efficiently. JAROWA has successfully closed its Series A funding round, led by Eos Venture Partners, a strategic venture capital fund focused on InsurTech. The proceeds will be used to further expand JAROWA’s offering throughout Europe.
Andreas Akeret
Andreas Akeret, JAROWA CEO, stated,
“After successfully implementing the standard of a digital vendor marketplace for B2B clients in our home market Switzerland, we have been able to enter Germany, the United Kingdom, and Italy, which underlines the demand for our services abroad. We are excited to further expand our business in Europe and are delighted to have Eos Venture Partners supporting us on this journey.”
Jarowa was founded in Zug, Switzerland in May 2017 and is a privately owned Swiss Tech company. The company offers insurance companies, property managers, and leasing companies access to a digital marketplace within the areas of mobility, property &amp; trades, healthcare, and legal advice. In case of damage, the claim is automatically assessed, and an appropriate and trusted service provider is selected and commissioned to handle the order. The settling of the claim is digitally processed end-to-end for all parties involved.


After reaching “market standard” status in its home market Switzerland, JAROWA successfully expanded into Germany, getting named by the German Handelsblatt as a potential future market leader in digitally connecting insurance companies with service providers. By the end of 2021, the healthcare marketplace was launched in the United Kingdom, followed by the entry into the Italian market in mid-2022. JAROWA is proud to count on an already large number of leading insurances, property managers and leasing companies as their valued clients.
To build on this success, JAROWA will expand further in Europe and the funding of CHF 12.4 million will be used to support this growth. In addition, more than CHF 3 million in secondary shares were placed with new investors in connection with the transaction. Eos Venture Partners, a leading venture capital fund within InsurTech, has led the round. The investors in the round also include moyreal holding AG together with Helvetic Trust AG and an entrepreneurial family office based in Zurich.
Carl Bauer-Schlichtegroll
“The claim process is at the heart of every insurance company; it is critical for the industry as well as for the end-user who is depending on a smooth and quick claim handling. We are delighted to work with this great team and help bring their business to the next level. It is ever more important, especially in today’s challenging times, to reduce costs, increase customer satisfaction, secure best claims servicing standards, and beat inflation,”
explains Carl Bauer-Schlichtegroll, General Partner at Eos Venture Partners.
Lilja Capital Advisory Partners acted as financial advisor to JAROWA in connection with the transaction.
]]></description><link>https://fintechnews.eu/swiss-blockchain-insurtech-jarowa-raises-chf-124-million-series-a-for-europe-expansion</link><guid>2757</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Swiss Blockchain-Insurtech Jarowa Raises CHF 12.4 Million Series A for Europe Expansion</dc:text></item><item><title>Nexi Partners With Microsoft to Drive the Digitalization of The European Payments Space</title><description><![CDATA[Nexi announced yesterday a strategic collaboration with Microsoft aimed at innovating digital payments solutions and helping digitalization of SMEs, Corporates, Public Administrations and Financial Institutions across multiple European markets through vertical value-added solutions to respond to specific needs as easy to adopt one-stop-to-digital packages for small businesses, secure scalable payment cloud-based infrastructures for public entities to serve citizens, for corporates to optimize payment and cash operations and for financial companies to leverage new digital nativescenarios for their customers.
As a result of the agreement, Nexi has been selected as one of the main payment providers for e-commerce acceptance in Italy, Denmark, Sweden and Norway. Nexi and Microsoft will collaborate to embed Nexi payments solutions with Microsoft Cloud services and solutions.
Nexi will leverage Microsoft Azure Cloud solutions to accelerate the transformation of its own platforms and to bring further innovation agility into the IT Infrastructure, leveraging the Data Center Modernization and Consolidation scenarios.


Both companies are willing to closely collaborate on driving wide market adoption of joint solutions and to co-create new products that leverage respective areas of expertise.
Paolo Bertoluzzo
“The strategic partnership with Microsoft demonstrates the power of combining deeply local payments expertise with European scale”
says Paolo Bertoluzzo, CEO of Nexi Group
“We are proud to help a global player such as Microsoft to increase local reach in strategic markets with our digital payment solutions. It is a concrete proof of our unique ability to bring together European scale, best-in-class solutions and deep local expertise. We expect our joint investment in this partnership will accelerate the digitization of payments in Europe and our own cloud transformation, but more importantly, together we will enable innovative solutions, increased agility and superior efficiency for SMEs, Corporates, Public Administration and Financial Institutions. Furthermore, it will allow Nexi to accelerate the integration of payment capabilities into software platforms to become the “preferred payment partner” for ISVs, also leveraging Azure capabilities”.
Ralph Haupter
“Digital payment innovation enables simpler, more frictionless experiences for customers -benefitting financial institutions, companies and consumers. Nexi will leverage the Microsoft secure cloud infrastructure and partner ecosystem to extend its digital payment solutions to European markets. In addition to the benefits this will bring to end users, I see the potential for this expansion to fuel innovation in the broader industry, creating new opportunities for ISVs and startups. Microsoft will also benefit from the Nexi capabilities and solutions for our own e-commerce in several European markets,”
says Ralph Haupter, President Microsoft EMEA
Key points of the collaboration

Microsoft has been selected by Nexi as preferred cloud provider with its Azure Cloud Services and solutions for Nexi platforms and data centers transformation journey. Microsoft unique capabilities will help Nexi in further improving both innovation agility and efficiency, while maintaining best-in-class service levels, cybersecurity and data protection standards. Nexi will leverage the Italy North datacenter region cloud services when available in the future.
Nexi has been selected by Microsoft as one of its main payment providers for the online business in core European markets. The PayTech’s digital PSP and collection solutions will be integrated with the digital properties of Microsoft, focusing at the start on four European countries (Italy, Denmark, Sweden and Norway) with future expansion options into other markets. This will allow Microsoft to fully take advantage of Nexi unique combination of European scale and extensive local expertise.
Nexi and Microsoft intend to collaborate on payments capabilities integration into Microsoft solutions and on joint go-to-market on Independent Software Vendors (ISV) to land vertical scenarios and relevant use cases for companies and entities in the markets of interests. Microsoft is willing to explore the integration of Nexi payment APIs on Microsoft products and services, directly or indirectly through Microsoft Cloud services and/or Marketplaces. The two companies intend to launch a joint proposition for ISVs, Software Companies and Startups, focusing in a first phase on Italian market, and over time extending the approach to other European markets. The partnership is aiming also to focus on a close collaboration in joint marketing and communication initiatives bringing value-added services and ISV solutions to the SME segment in onestop-to digital approach, including partner evangelization activities, developer trainings and dedicated support to facilitate development and adoption of digital transformation opportunities, accelerating sustainable growth.
Microsoft and Nexi are willing to collaborate to co-create new joint services and solutions, including propositions for both SMEs and Corporates, integrating Nexi solutions within Microsoft Cloud services and solutions.


Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/nexi-partners-with-microsoft-to-drive-the-digitalization-of-the-european-payments-space</link><guid>2758</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Nexi Partners With Microsoft to Drive the Digitalization of The European Payments Space</dc:text></item><item><title>Nexi Partners Microsoft to Drive Digitalization of The European Payments Space</title><description><![CDATA[Nexi announced yesterday a strategic collaboration with Microsoft aimed at innovating digital payments solutions and helping digitalization of SMEs, Corporates, Public Administrations and Financial Institutions across multiple European markets through vertical value-added solutions to respond to specific needs as easy to adopt one-stop-to-digital packages for small businesses, secure scalable payment cloud-based infrastructures for public entities to serve citizens, for corporates to optimize payment and cash operations and for financial companies to leverage new digital nativescenarios for their customers.
As a result of the agreement, Nexi has been selected as one of the main payment providers for e-commerce acceptance in Italy, Denmark, Sweden and Norway. Nexi and Microsoft will collaborate to embed Nexi payments solutions with Microsoft Cloud services and solutions.
Nexi will leverage Microsoft Azure Cloud solutions to accelerate the transformation of its own platforms and to bring further innovation agility into the IT Infrastructure, leveraging the Data Center Modernization and Consolidation scenarios.


Both companies are willing to closely collaborate on driving wide market adoption of joint solutions and to co-create new products that leverage respective areas of expertise.
Paolo Bertoluzzo
“The strategic partnership with Microsoft demonstrates the power of combining deeply local payments expertise with European scale”
says Paolo Bertoluzzo, CEO of Nexi Group
“We are proud to help a global player such as Microsoft to increase local reach in strategic markets with our digital payment solutions. It is a concrete proof of our unique ability to bring together European scale, best-in-class solutions and deep local expertise. We expect our joint investment in this partnership will accelerate the digitization of payments in Europe and our own cloud transformation, but more importantly, together we will enable innovative solutions, increased agility and superior efficiency for SMEs, Corporates, Public Administration and Financial Institutions. Furthermore, it will allow Nexi to accelerate the integration of payment capabilities into software platforms to become the “preferred payment partner” for ISVs, also leveraging Azure capabilities”.
Ralph Haupter
“Digital payment innovation enables simpler, more frictionless experiences for customers -benefitting financial institutions, companies and consumers. Nexi will leverage the Microsoft secure cloud infrastructure and partner ecosystem to extend its digital payment solutions to European markets. In addition to the benefits this will bring to end users, I see the potential for this expansion to fuel innovation in the broader industry, creating new opportunities for ISVs and startups. Microsoft will also benefit from the Nexi capabilities and solutions for our own e-commerce in several European markets,”
says Ralph Haupter, President Microsoft EMEA
Key points of the collaboration

Microsoft has been selected by Nexi as preferred cloud provider with its Azure Cloud Services and solutions for Nexi platforms and data centers transformation journey. Microsoft unique capabilities will help Nexi in further improving both innovation agility and efficiency, while maintaining best-in-class service levels, cybersecurity and data protection standards. Nexi will leverage the Italy North datacenter region cloud services when available in the future.
Nexi has been selected by Microsoft as one of its main payment providers for the online business in core European markets. The PayTech’s digital PSP and collection solutions will be integrated with the digital properties of Microsoft, focusing at the start on four European countries (Italy, Denmark, Sweden and Norway) with future expansion options into other markets. This will allow Microsoft to fully take advantage of Nexi unique combination of European scale and extensive local expertise.
Nexi and Microsoft intend to collaborate on payments capabilities integration into Microsoft solutions and on joint go-to-market on Independent Software Vendors (ISV) to land vertical scenarios and relevant use cases for companies and entities in the markets of interests. Microsoft is willing to explore the integration of Nexi payment APIs on Microsoft products and services, directly or indirectly through Microsoft Cloud services and/or Marketplaces. The two companies intend to launch a joint proposition for ISVs, Software Companies and Startups, focusing in a first phase on Italian market, and over time extending the approach to other European markets. The partnership is aiming also to focus on a close collaboration in joint marketing and communication initiatives bringing value-added services and ISV solutions to the SME segment in onestop-to digital approach, including partner evangelization activities, developer trainings and dedicated support to facilitate development and adoption of digital transformation opportunities, accelerating sustainable growth.
Microsoft and Nexi are willing to collaborate to co-create new joint services and solutions, including propositions for both SMEs and Corporates, integrating Nexi solutions within Microsoft Cloud services and solutions.


Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/nexi-partners-microsoft-to-drive-digitalization-of-the-european-payments-space</link><guid>2760</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Nexi Partners Microsoft to Drive Digitalization of The European Payments Space</dc:text></item><item><title>Kickstart Selects 12 Fintech and Insurtech Startups, 2 of them are Swiss</title><description><![CDATA[In its 7th year Kickstart is one of the largest European Innovation Platforms, bridging the gap between startups, corporations, cities, foundations and universities to accelerate partnerships and deep tech innovation. Since 2015, Kickstart has supported over 400 startups and facilitated over 200 deals in the form of pilots and commercial projects coming from over 80 countries, raising more than CHF 2 billion in investments so far including Planted, Huma, Labster and others.
Kickstart supports partners in identifying key topics and opportunities for open innovation. A select number of the best national and international startups and scaleups are chosen each year to participate in a 10-week program to facilitate collaborative innovation partnerships and commercial deals to co-create in the form of Proof-of-Concepts, pilots and commercial projects with Kickstart partners, leading organizations and companies such as AXA, Coop, Swisscom, La Mobilière, PostFinance, Sanitas, The City of Zurich, Canton de Vaud, Credit Suisse, Galenica, CSS Insurance and others.
Later-stage startups in the Finance and Insurance vertical that are paving the way to a more sustainable future for corporates and SMEs alike include Doconomy from Sweden, a world-leading provider of applied environmental impact solutions who empower individuals and corporations to take responsibility for their environmental footprint, as well as German scaleup The Climate Choice; a software platform for decarbonising supply chains. To tackle the underleveraged market potential of €7.8B due to women saving instead of investing, Finmarie from Germany is joining the program this year to improve the lives of millions of women across Europe and help them get on the path to financial independence.


It is cited that 50% of the world’s population lives in cities today, which is predicted to increase to 68% by 2050. This results in over usage of infrastructure, leading to sustainability issues and major challenges ahead. Out of 10 startups joining Kickstart’s Smart Cities cohort this year, 9 are working towards a more circular economy. These include LEDCity, a Swiss cleantech startup developing an intelligent plug-and-play lighting system which can reduce 90% of the energy consumption compared to conventional systems, as well as UK-based Naked Energy who are innovating in the field of solar collectors to produce a solar energy technology with one of the world’s highest energy densities installed.
With an estimated 1 billion people needing to be retrained by 2030 due to the increase in automated tasks and creation of upwards of 133 million new roles, we are looking forward to introducing startups such as US-based SkyHive and Austrian-born Leadbacker to our New Work and Learning vertical. SkyHive uses real-time data and skill-based analysis to help people see beyond a traditional job title, and Leadbacker is one of the leading AI-powered people development platforms.
All 6 startups joining the Food &amp; Retail vertical this year are working towards a more circular economy. A big trend this year is on sustainable packaging; both in terms of material and supply chain, which is promising due to the food industry being the largest manufacturing industry in the EU. PlasticFri, a GreenTech company from Sweden is using breakthrough technology to turn agricultural waste to eco-friendly products for replacing plastics, whereas Austrian-born Supaso produces sustainable insulation packaging made from recycled waste paper for the shipping of temperature-sensitive goods. Kickstart is also welcoming Swiss vegan creamery New Roots, who is developing, producing and selling ethical, sustainable and healthy alternatives to cheese and other dairy products based on 100% plant-based, organic ingredients.
The digitization of health is mandatory to provide access to personalized and connected care. Startups joining the Health &amp; Wellbeing vertical this year include medicalmotion, a German deep-tech startup that provides the world’s most personalized and cause-oriented AI-driven multimodal platform to finally combat body pain at its core, as well as TOM, the first fully anonymous therapy solution from Switzerland providing valuable features for tracking medication and empowering patients to improve their medication competence.
Katka Letzing
“We are pleased that more and more startups have sustainability clearly at the core of their developments,”
adds Katka Letzing, CEO and co-founder of Kickstart Innovation.
“We received applications from 58 countries this year with not only strong focus on potential proof of concepts and commercial deals, but also on strategic investment opportunities which increased significantly from last year, which is all supporting innovation strength in Switzerland and Austria.”
Participants go through a stringent shortlisting process that includes alignment workshops, a partner safari and pitch invitation with the corporates and ecosystem experts in the jury. This year, over 170 judges were involved in the final selection of this cohort, with circular Economy and sustainability at the forefront of the decision-making process.
The 12 Fintech and Insurtech Startups are:
Finance &amp; Insurance

Bsurance(Austria)


Boomerang Ideas (Switzerland)


CyberSmart (UK)


Doconomy (Sweden)


Finmarie (Germany)


Klimate (Denmark)


Monkee (Austria)


Surfly (Netherlands)


The Climate Choice (Germany)


Typewise (Switzerland)


Unique (Switzerland)


]]></description><link>https://fintechnews.eu/kickstart-selects-12-fintech-and-insurtech-startups-2-of-them-are-swiss</link><guid>2759</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Kickstart Selects 12 Fintech and Insurtech Startups, 2 of them are Swiss</dc:text></item><item><title>Kickstart Selects 12 Fintech and Insurtech Startups, 4 of them are Swiss</title><description><![CDATA[In its 7th year Kickstart is one of the largest European Innovation Platforms, bridging the gap between startups, corporations, cities, foundations and universities to accelerate partnerships and deep tech innovation. Since 2015, Kickstart has supported over 400 startups and facilitated over 200 deals in the form of pilots and commercial projects coming from over 80 countries, raising more than CHF 2 billion in investments so far including Planted, Huma, Labster and others.
Kickstart supports partners in identifying key topics and opportunities for open innovation. A select number of the best national and international startups and scaleups are chosen each year to participate in a 10-week program to facilitate collaborative innovation partnerships and commercial deals to co-create in the form of Proof-of-Concepts, pilots and commercial projects with Kickstart partners, leading organizations and companies such as AXA, Coop, Swisscom, La Mobilière, PostFinance, Sanitas, The City of Zurich, Canton de Vaud, Credit Suisse, Galenica, CSS Insurance and others.
Later-stage startups in the Finance and Insurance vertical that are paving the way to a more sustainable future for corporates and SMEs alike include Doconomy from Sweden, a world-leading provider of applied environmental impact solutions who empower individuals and corporations to take responsibility for their environmental footprint, as well as German scaleup The Climate Choice; a software platform for decarbonising supply chains. To tackle the underleveraged market potential of €7.8B due to women saving instead of investing, Finmarie from Germany is joining the program this year to improve the lives of millions of women across Europe and help them get on the path to financial independence.


It is cited that 50% of the world’s population lives in cities today, which is predicted to increase to 68% by 2050. This results in over usage of infrastructure, leading to sustainability issues and major challenges ahead. Out of 10 startups joining Kickstart’s Smart Cities cohort this year, 9 are working towards a more circular economy. These include LEDCity, a Swiss cleantech startup developing an intelligent plug-and-play lighting system which can reduce 90% of the energy consumption compared to conventional systems, as well as UK-based Naked Energy who are innovating in the field of solar collectors to produce a solar energy technology with one of the world’s highest energy densities installed.
With an estimated 1 billion people needing to be retrained by 2030 due to the increase in automated tasks and creation of upwards of 133 million new roles, we are looking forward to introducing startups such as US-based SkyHive and Austrian-born Leadbacker to our New Work and Learning vertical. SkyHive uses real-time data and skill-based analysis to help people see beyond a traditional job title, and Leadbacker is one of the leading AI-powered people development platforms.
All 6 startups joining the Food &amp; Retail vertical this year are working towards a more circular economy. A big trend this year is on sustainable packaging; both in terms of material and supply chain, which is promising due to the food industry being the largest manufacturing industry in the EU. PlasticFri, a GreenTech company from Sweden is using breakthrough technology to turn agricultural waste to eco-friendly products for replacing plastics, whereas Austrian-born Supaso produces sustainable insulation packaging made from recycled waste paper for the shipping of temperature-sensitive goods. Kickstart is also welcoming Swiss vegan creamery New Roots, who is developing, producing and selling ethical, sustainable and healthy alternatives to cheese and other dairy products based on 100% plant-based, organic ingredients.
The digitization of health is mandatory to provide access to personalized and connected care. Startups joining the Health &amp; Wellbeing vertical this year include medicalmotion, a German deep-tech startup that provides the world’s most personalized and cause-oriented AI-driven multimodal platform to finally combat body pain at its core, as well as TOM, the first fully anonymous therapy solution from Switzerland providing valuable features for tracking medication and empowering patients to improve their medication competence.
Katka Letzing
“We are pleased that more and more startups have sustainability clearly at the core of their developments,”
adds Katka Letzing, CEO and co-founder of Kickstart Innovation.
“We received applications from 58 countries this year with not only strong focus on potential proof of concepts and commercial deals, but also on strategic investment opportunities which increased significantly from last year, which is all supporting innovation strength in Switzerland and Austria.”
Participants go through a stringent shortlisting process that includes alignment workshops, a partner safari and pitch invitation with the corporates and ecosystem experts in the jury. This year, over 170 judges were involved in the final selection of this cohort, with circular Economy and sustainability at the forefront of the decision-making process.
The 12 Fintech and Insurtech Startups are:
Finance &amp; Insurance

Bsurance(Austria)


Boomerang Ideas (Switzerland)


CyberSmart (UK)


Doconomy (Sweden)


Finmarie (Germany)


Klimate (Denmark)


Monkee (Austria)


Surfly (Netherlands)


The Climate Choice (Germany)


Typewise (Switzerland)


Unique (Switzerland)


]]></description><link>https://fintechnews.eu/kickstart-selects-12-fintech-and-insurtech-startups-4-of-them-are-swiss</link><guid>2761</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Kickstart Selects 12 Fintech and Insurtech Startups, 4 of them are Swiss</dc:text></item><item><title>Rakuten Viber Selects Rapyd as Payments Partner to Roll Out Viber Pay</title><description><![CDATA[Rakuten Viber, a cross-platform voice over IP and instant messaging software application owned by Japanese multinational company Rakuten, has partnered with global fintech platform Rapyd to launch Viber Pay.
This will allow for in-app payment transactions to the Viber app for its millions of users.
As Rakuten Viber’s first official payments partner, Rapyd will integrate its licensed financial technology offerings directly into the Viber app.


Users will be able to store money in a mobile wallet with an IBAN, available in the Viber app which will allow them to send and receive money instantly and securely with no fees.
First opening the service with Euros, Viber will later expand to include multiple currencies and additional services.
Payments in Viber will initially begin in Greece and Germany and will roll out to more countries in the near future.
Arik Shtilman
“We’re proud to provide the infrastructure and licensing for global companies like Rakuten Viber, one of the world’s most trusted and recognized messaging and communications platforms, to develop their own financial services without them having to build the foundation from scratch.

Through this partnership, Rakuten Viber can confidently step into the world of payments and become a leader in embedded finance, supported by Rapyd’s licensed end-to-end fintech offerings.”
said Arik Shtilman, CEO of Rapyd.
Ofir Eyal
“There was no doubt our in-app payment offerings would have to feature the world-class security and privacy protection that the Viber app is already known for.

For this reason we’re thrilled to have Rapyd, a trusted leader building the future of global finance, to serve as the licensed cross-border payments solution enabling us to bring safe and simple instant payments features to Viber users across borders.”
said Ofir Eyal, CEO of Rakuten Viber.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/rakuten-viber-selects-rapyd-as-payments-partner-to-roll-out-viber-pay</link><guid>2756</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Rakuten Viber Selects Rapyd as Payments Partner to Roll Out Viber Pay</dc:text></item><item><title>Ageras Buying German Neo-Bank for Freelancers Kontist</title><description><![CDATA[Denmark based Ageras Group announced that it has acquired Kontist, a Berlin-based neo-bank focused on the complex accounting and banking needs of Germany’s growing populations of microbusinesses and self-employed workers.
Rico Andersen
“This acquisition is a critical step in Ageras’ growth,”
said Ageras Co-founder and CEO Rico Andersen.
“Kontist has created the best product in Europe’s largest market. It’s a one-stop financial shop for approximately 50,000 German small business owners today, and it’s perfectly positioned to become the go-to financial platform for future generations of small business owners in need of modern banking and accounting tools.”
Founded in 2016 by fintech veteran Christopher Plantener as Germany’s first neo-bank focused on freelancers and the self-employed, 150-person Kontist has developed a reputation for its modern business banking and its highly sophisticated digital tax and accounting software.


Kontist offers self-employed and microbusiness owners bank accounts, payment cards and accounting features, as well as tax returns calculation and filing, all via its app. Also, Kontist’s bank accounts automatically calculate relevant sales and income taxes and set aside estimated taxes due, among other services designed to protect business owners amid Germany’s uniquely complex tax laws.
Benjamin Esser
“Under Ageras, we will be able to benefit from an international accounting &amp; financial ecosystem and continue to foster our position as the number one financial services and tax player for the self-employed,”
said Kontist Co-CEO Benjamin Esser.
“With annual growth rates of nearly 100% over the past few years, we have only scratched the surface of what is a tremendous opportunity.”
Post-acquisition, Ageras’ run-rate revenue will rise approx. 40% and climb closer to the company’s milestone of €30 million annually. Kontist’s employees will join Ageras’ 200, bringing its total headcount to 350 employees based in Denmark, the Netherlands, Germany, the US, Finland and Poland. Kontist Founder and Co-CEO Christopher Plantener will continue working for Kontist under Ageras.
Kontist is the third acquisition made by Ageras in the last 12 months. Part of Ageras’ aggressive expansion strategy, the fintech startup with roots in Copenhagen has raised more than $100 million in a series of funding rounds since early 2021. After first launching as a marketplace for small business owners to find accountants in Denmark in 2012, Ageras has expanded far beyond into a suite of fintech tools for freelancers and microbusiness owners. Something like a financial “cockpit” for small businesses, Ageras’ products—Salary, Zervant, Billy—offer payroll, invoice and accounting software services in Europe and North America.
“Our acquisition is an investment in the future of work,”
said Ageras Group Co-founder and CEO Rico Andersen.
“Kontist’s founders understood when they created the company that old banks and accounting software no longer work in a Germany where there are millions of microbusinesses. And as more Germans choose to become self employed, no company is better positioned to become their bank of choice than Kontist. And we see major future growth opportunities and immediate benefits for Ageras’ current customers who will get expanded access to Kontist’s sophisticated German tax software.”
Andersen added:
“Buying Kontist not only gives us the strongest product in Germany but also fits into our long-term plan. Our strategic focus remains combining accounting and admin with financial services–which is what Kontist has perfected. We will leverage Kontist’s technology to help us accelerate our services to self-employed and microbusiness owners across a dozen other markets in Europe and North America.”

This article first appeared on Fintechnordics.com


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/ageras-buying-german-neo-bank-for-freelancers-kontist</link><guid>2753</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Ageras Buying German Neo-Bank for Freelancers Kontist</dc:text></item><item><title>Institutional Crypto Lender CLST Raises Seed Funding From Spartan Group, TX Ventures</title><description><![CDATA[CLST, an institutional-only lending and borrowing venue for stablecoins and crypto assets, announced that it has successfully closed an oversubscribed seed round for an undisclosed sum.
The funding round was led by Spartan Group and also included the Tier 1 investors Coinbase Ventures, Kraken Ventures, GSR, Menai Financial Group, Luno Expeditions, and TX Ventures – the VC investment arm of TX Group.
With the new funding, CLST said that it will bolster its peer-to-peer infrastructure through increased operational and market expansion.


CLST offers institutions safe exposure to the growing, global digital asset marketplace via the borrow and lend proces.
As a one-stop-shop for peer-to-peer lending, CLST attracts digital asset lenders and borrowers such as hedge funds, trading firms, treasuries, market makers, and crypto banks seeking automated digital asset collateral management features.
With more than 30 institutions participating in the network after soft launching earlier this year, CLST is going live with a wide market version of the application later this year.
Michael Guzik
Michael Guzik, Founder and CEO of CLST said, f
“CLST sits at the nexus of the crypto asset short-term debt market and traditional financial market.

In tandem with our world class investors and partners, we are establishing a market for stablecoins, digital assets, fiat, and beyond – the ‘new money’.”
Krzysztof Bialkowski
Krzysztof Bialkowski, Investment Director at TX Ventures said,
“We are excited to add CLST, an innovative crypto lending company, to our fintech portfolio and to support the team in their growth journey going forward. The recent developments in the market have shown the urgent need for further professionalization and structuring in this highly attractive segment.

CLST has showcased strong initial traction and is well positioned to create value in the crypto market. We therefore strongly believe that the CLST team will succeed in becoming a game changer in the institutional crypto lending ecosystem.”
TX Ventures had also recently led Stableton Financial’s CHF 15 million Series A funding round earlier this month.

]]></description><link>https://fintechnews.eu/institutional-crypto-lender-clst-raises-seed-funding-from-spartan-group-tx-ventures</link><guid>2754</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Institutional Crypto Lender CLST Raises Seed Funding From Spartan Group, TX Ventures</dc:text></item><item><title>Swiss Proptechs Embrace Ecosystem Business Models</title><description><![CDATA[In Switzerland, proptech companies and their partners are embracing ecosystem business models, believing that open, multilateral cooperation arrangements will allow them to improve the impact of their products and allow them to generate more revenue, a new study by Credit Suisse found.
Credit Suisse’s annual Swiss Proptech Report, released on June 21, 2022, looks at the state of the domestic proptech industry, sharing findings of a survey of the sector’s players on their ambitions and market sentiment to get a sense of their current priorities and challenges.
The report puts a focus on the rise of ecosystems, arguing that Swiss proptech companies are actively pursuing this form of collaboration, following on trends observed in other countries and industries. Multilateral forms of cooperation in the real estate sector are gaining traction in Germany, the report points out, and the trend is projected to generate revenues approaching US$3.8 trillion globally by 2025, McKinsey estimates.


These developments are among the driving forces that have contributed to the Swiss proptech market’s adoption of ecosystem business models. In 2021, almost 70% of the proptech companies polled by Credit Suisse cited “establishing an ecosystem” as one of the key drivers of cooperation, showcasing that building up extensive ecosystems have become a critical strategic priority for Swiss proptech companies.
Drivers of collaboration with Swiss proptechs, Source: Credit Suisse
The concept of ecosystems has been around for decades, but it only started becoming popular in the real estate market over the last couple years, the report notes.
This evolution is evidenced by the surge in the usage of the term “ecosystem” in annual reports from the fields of real estate, banking and insurance. In 2017, “ecosystem” appeared in less than half of the annual reports studied, a figure that surged to 80% in 2021, an analysis by Credit Suisse found.
This shows that ecosystems are becoming a trend among both proptech startups and their partners, the bank says.
Frequency of the term “ecosystem” in annual reports, Source: Credit Suisse
In 2022, the Credit Suisse survey found that although not all proptech companies are part of an ecosystem, they all aspire to be in one in the long run. Of the proptech companies polled, 46% of respondents said that they already belong to an established ecosystem, while an additional 26% are part of an emerging ecosystem. Meanwhile, some 28% of proptechs plan to be part of an ecosystem in future.
Proptechs as part of an ecosystem, Source: Credit Suisse
Swiss proptech ecosystems
Credit Suisse has identified at least 14 proptech ecosystems in the country. These were established by both incumbent firms like insurers Swiss Life and Baloise, and banking groups UBS and Raffeisen, as well as younger tech-enabled ventures like Allthings Technologies and Flatfox.
Basel-headquartered Allthings Technologies operates a tenant management platform designed to simplify and enhance the communication between owners, property managers and residents. The platform also integrates with third-party services, enabling clients and users to connect through a digital ecosystem of nearly 50 service providers.
Flatfox, a company founded in 2012 and based in Zurich, provides a digital real estate marketplace for private and business customers. For corporate customers such as property management companies, Flatfox also offers software that digitalizes the whole process of renting an apartment, and further provides services such as scheduling flat viewings, filling out forms and keeping track of all potential tenants or available apartments. Flatfox’ clients and partners include Adimmo, Allianz, Helvetia, Steinauer Immobilien, and Viva Real.
Proptech startup Houzy is developing a comprehensive platform for homeowners in Switzerland. The company offers an open ecosystem that integrates user-friendly online tools such as the property valuation, the renewal fund calculator and the plant manager and brings homeowners and craftsmen together with one click. Its network counts over 700 partners of qualified craftsmen and realtors.
UBS and Baloise, meanwhile, have joined hands to develop the Home &amp; Living ecosystem, combining their capabilities and platforms, including UBS’ mortgage brokerage platforms Atrium and key4, and Baloise’s Home initiatives, to address property owners’ needs regarding financing, insurance and maintenance.
Similarly, Mobiliar and Raiffeisen are collaborating on Liiva, a platform that allows users to manage all matters and needs relating to home ownership from search to sale. Liiva aims to cover the entire life cycle of home ownership and support homeowners throughout their search for, purchase, maintenance and sale of a home.
Overview of Swiss real estate ecosystems, Source: Credit Suisse

Featured image credit: Edited from Unsplash and Freepik
]]></description><link>https://fintechnews.eu/swiss-proptechs-embrace-ecosystem-business-models</link><guid>2755</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Swiss Proptechs Embrace Ecosystem Business Models</dc:text></item><item><title>Krypto-Broker Coinpanion kooperiert mit Checkout.com</title><description><![CDATA[Das Österreichische Fintech-Unternehmen Coinpanion hat sich zur Abwicklung seiner Paymentprozesse für die Zusammenarbeit mit dem internationalen Zahlungsdienstleister Checkout.com entschieden.
Durch die Zusammenarbeit mit Checkout.com kann der Kryptobroker seinen Anleger:innen nun zahlreiche Optionen für Ein- und Auszahlungen anbieten, von Kartenzahlungen über Google und Apple Pay bis hin zu Wallet-Transaktionen. Das seit 2020 im österreichischen Markt erfolgreiche Fintech-Startup konnte im Herbst letzten Jahres weitere hochkarätige Investor:innen für seine Geschäftsidee gewinnen. Coinpanion ist als europäisches Unternehmen registriert und unterliegt allen dort geltenden Vorschriften.
Alexander Valtingojer
Vor der Zusammenarbeit mit Checkout.com war Coinpanion Gründer und CEO Alexander Valtingojer bereits länger auf der Suche nach einem geeigneten Payment-Partner:


„Ein schnellwachsendes, sehr innovatives Unternehmen wie unseres stößt bei herkömmlichen Zahlungsanbietern häufig auf Hindernisse. Diese sind nicht in der Lage, das zu liefern, was wir brauchen, um als Kryptounternehmen zu wachsen. Wir haben uns deshalb für Checkout.com entschieden, weil sie uns engagierte Expertenteams, eine schnelle Integration und eine fortschrittliche cloudbasierte Zahlungsplattform bieten.“
Esteban Sadurni
„Coinpanion ist das beste Beispiel für eine neue Generation von Fintech-Unternehmen, die mit innovativen Dienstleistungen einen einfachen Einstieg in den Kryptomarkt ermöglichen. Für die Abwicklung von Kryptozahlungen ist Checkout.com perfekt aufgestellt. Mit unserer Infrastruktur und Expertise kann Coinpanion seine Kryptotransaktionen sauber und verlässlich abwickeln. Dafür bauen wir die Funktionen unserer Zahlungslösung für Sicherheit und Betrugserkennung kontinuierlich aus“,
erklärt Esteban Sadurni, Director of Crypto bei Checkout.com.
Krypto-ETFs als neue digitale Asset-Klasse für langfristiges Anlegen
Trotz der volatilen Kursbewegungen im Kryptomarkt wächst die Offenheit gegenüber der Nutzung von Kryptowährungen auf Verbraucherseite weiter an. Laut der neuesten Kryptostudie von Checkout.com sind bereits 46 Prozent der Deutschen im Besitz von Kryptowährungen. Dieser Trend zeigt sich auch im anhaltenden Erfolg des österreichischen Krypto-Brokers Coinpanion. Das Expertenteam um Valtingojer hat mit seiner Geschäftsidee das Investieren in Kryptowährungen für Einzelpersonen radikal vereinfacht: Über ihre Kryptoplattform können private Anleger:innen in ein Portfolio von Kryptowährungen investieren, das ganz auf ihre persönliche Risikotoleranz zugeschnitten ist.
Dafür hat Valtingojer mit seinem Team das Prinzip des klassischen Exchange Traded Funds [ETF]-Sparmodell auf den Kryptomarkt übertragen. Einzelinvestor:innen profitieren dadurch von dieser neuen Anlagekategorie, ohne sich selbst um die Details kümmern zu müssen – die gesamte technische Seite der Transaktionen übernimmt Coinpanion für sie. Über die Plattform können sie den Wert ihrer Investitionen kontinuierlich überwachen und sich ihre Investition bei Bedarf jederzeit auszahlen lassen. Als in der europäischen Region ansässiges Unternehmen arbeitet Coinpanion auch mit regulierten Bafin-Banken zusammen.
Transparente Preisgestaltung und unkomplizierte Zusammenarbeit
Für Valtingojer ist die Zusammenarbeit mit einem anerkannten Payment-Anbieter wie Checkout.com ein wichtiger Baustein, um das Vertrauen von Anleger:innen in Coinpanion zu festigen: „Der unkomplizierte Kontaktprozess in Kombination mit der transparenten Preisgestaltung im E-Commerce hat uns sofort vom Wert dieser Partnerschaft überzeugt. Wir können den Kundensupport sogar per WhatsApp kontaktieren – ohne E-Mail oder lange Wartezeiten. Bequemer geht es nicht mehr. Checkout.com ist genauso lösungsorientiert wie wir. Das ist für uns ein großer Pluspunkt.“ Auch die Integration der Payment-Lösung in die Krypto-Plattform über die Checkout.com-API wurde innerhalb von nur drei Tagen problemlos abgeschlossen.
Nahtlose Integration von Google, Apple Pay und Co.
Die Zusammenarbeit mit Checkout.com hat sich für Coinpanion bewährt: Mittlerweile sind bereits rund 50 Prozent der Kundentransaktionen klassische Kartenzahlungen. Mit Checkout.com können Anleger:innen jetzt auch direkt per Kreditkarte in ihre Kryptosparpläne einzahlen.
„Die Kombination aus fairen Preisen, Kunden- und technischem Support rund um die Uhr und die einfache Implementierung über die API hat uns überzeugt. Wir verfügen jetzt über eine breite Palette von Zahlungsoptionen, die durch einen einzigen Zahlungsdienstleister abgedeckt ist. Wir können jetzt sogar Google und Apple Pay oder das Online-Bezahlsystem Sofortüberweisung in unserer mobilen App ohne zusätzlichen Implementierungsaufwand anbieten.“
]]></description><link>https://fintechnews.eu/krypto-broker-coinpanion-kooperiert-mit-checkoutcom</link><guid>2751</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Krypto-Broker Coinpanion kooperiert mit Checkout.com</dc:text></item><item><title>Fundof Launches Visa Debit Card for Content Creators Powered by Intergiro and Onfido</title><description><![CDATA[Fundof, an Italian platform that provides smart payments for creators, announced that it has partnered with Onfido, a London-based identity verification and authentication provider, and Intergiro, to launch a free Visa™ debit card and payment account conceived for creators.
Fundof provides a bio link tool with an integrated tip jar, plus an account featuring a free Visa debit card, all in one service.
On their Fundof profiles, users can create a storefront including all their valuable links and accept donations on the same page.


With the Visa card, users can instantly spend the tips and payments they receive through Fundof, without having to wait for a bank transfer or extra fees.
Fundof is partnering with Onfido and Intergiro to onboard customers to its platform in 30 European countries, including France, Netherlands and Germany.
Content creators are able to sign up by simply taking a photo of their government-issued identity document (ID) and a selfie.
Onfido first checks that the ID is genuine and not fraudulent, and then matches it to the user’s selfie. This ensures the person presenting the identity is its legitimate owner and is physically present, mitigating attempts of creating fake accounts, money laundering or spreading false information.
After this 30-second process of identity verification and confirmation from Interigo’s automated onboarding system, content creators are then given a free Fundof payment account and Visa debit card powered by Intergiro’s embedded banking technology.
Joakim Hultin
“Fundof is all about seamless tipping and instant access to funds, and the only way to achieve this in a secure and trusted way was through this unique collaboration with Onfido and Intergiro.

We wanted to create the ultimate tool to help content creators get paid and for their loyal fans to be able to support with just one click on any platform.”
said Joakim Hultin, Co-founder of Fundof.
Alex Valle
“Being able to verify the identity of Fundof users helps build trust throughout its community of content creators. Users increasingly expect a user-friendly and fast digital experience, and we’re pleased to be supporting Fundof to scale and meet regulations while mitigating fraud.

Onfido provides an experience that is both fast and secure, enabling a transparent and safe environment for content creators to get rewarded from their followers.”
said Alex Valle, Chief Product Officer at Onfido.
]]></description><link>https://fintechnews.eu/fundof-launches-visa-debit-card-for-content-creators-powered-by-intergiro-and-onfido</link><guid>2750</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Fundof Launches Visa Debit Card for Content Creators Powered by Intergiro and Onfido</dc:text></item><item><title>Into the Era of Innovative and Sustainable Cloud Payment Solutions</title><description><![CDATA[As part of its future-orientated approach, Netcetera announced the switch to a cloud platform using leading hosting service providers. The first step of going cloud is the finalized migration of its 3DS services to a new cloud hosting environment.
This switch promises to deliver modernized infrastructure that more easily meets rapidly changing customer behavior and expectations, and drives business growth. The change is part of the payment player’s dedication to achieving sustainability and responsibility towards society through ongoing efforts to improve its core industry.
Christian Waldvogel
“High-quality and high-availability solutions are an important part of our success, as are the long-term relationships we build with our customers and partners. We work with front-runners in the payment field to ensure that we set up the security and quality standards in the industry.”
stated Christian Waldvogel, from the Management Team of Netcetera.


Cloud means to provide sustainable solutions that solve the infrastructural and local market challenges, i.e., to be ready for global coverage, be able to get and provide services closer to the customers, and answer the local regions’ needs in which the payment player operates.
For Netcetera customers, it means that the company is undertaking all the actions to optimize costs, especially when resource shortages and prices are scaling up, and the markets around the world are strengthening their local regulations. Even more, cloud platform usage will improve the ability to instantly serve the most demanding and significant payment platforms during peak loads. Adopting the cloud leads to 62% more efficient IT infrastructure management vs. on-premises and reduced unplanned downtime. The cloud data centers that rely on renewable energy resources guarantee improved performance with automated scalability in a highly secured PCI 3DS/DSS certifiedinfrastructure.
Andrej Vckovski
When asked about Netcetera’s plans, in the long run, the CEO, Andrej Vckovski, stated:
“We care about where our energy comes from and how we are using it, and the time has come for all payment players to get involved in the process with global action. Digitalization is usually an energy saver on a global scale, but it still accounts for about 10% of global energy consumption. Clever design and reduction of energy waste can already make a difference. Along with us, our customers will contribute to this mission and join us in decreasing the carbon footprint.”
The migration process of the Netcetera 3DS Server to a new cloud platform started in January 2022. It was carried out in phases to ensure that the whole process was implemented smoothly.
Netcetera’s acquiring products enable processing transactions with 3-D Secure protocols and PSD2 SCA exemptions, certified with the biggest card networks, and fully compliant with all the standards in the payment industry. 3-D Secure is a globally trusted protocol for securing online transactions. It involves links between various components to ensure communication between merchants, issuers, and acquiring banks.
Netcetera will continue providing compelling business benefits such as improved conversions, optimized checkout processes, reduced fraud, and protection from fraudulent chargeback liability without compromising the smooth user experience for the online shopper. As a strong, flexible, and reliable partner, the leading software company strives for a positive global impact and beneficial changes in its customers’ business. This step aligns with the payment player’s modern, resource-efficient, and competitive way of working. Proudly confirming the statement of one of its customers:
“Local inclusion of international payment players such as Netcetera will only mean more innovation and knowledge in the local online payment methods and the payment ecosystem as a whole.”
Netcetera’s final goal is to delight its customers, answer their needs and jointly act responsibly towards the living environment.
]]></description><link>https://fintechnews.eu/into-the-era-of-innovative-and-sustainable-cloud-payment-solutions</link><guid>2749</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Into the Era of Innovative and Sustainable Cloud Payment Solutions</dc:text></item><item><title>SIX Digital Exchange Partners With Aktionariat to Ease Access to Capital</title><description><![CDATA[SIX Digital Exchange (SDX) have partnered with Aktionariat, a technology provider for digitised private shares in Switzerland, to further develop the digital ecosystem for issuers and institutional investors.
In a joint statement, both entities said that the partnership will “tackle one of the biggest challenges that growing companies face which is access to capital”.
One of the key success factors for raising capital is access to a broad investor base.


As a result of this partnership, companies issuing shares through Aktionariat’s technology will be able to register digital securities seamlessly in SDX’s regulated Central Securities Depository (CSD).
By being able to offer a wider range of custody options, companies can expand their addressable investor base.
Massimo Butti
“As part of the growing SIX Digital Exchange ecosystem for private companies, we welcome this partnership with Aktionariat to help entrepreneurs access a wider investor base, make their securities bankable and make their funding journey more efficient”
said Massimo Butti, Head of Equity at SIX Digital Exchange.

Nicola Plain
“The partnership with SIX Digital Exchange opens a path for making tokens issued with Aktionariat bankable. SDX is deeply rooted in the Swiss financial markets and brings strong expertise when it comes to organizing efficient and accessible securities exchanges. This complements Aktionariat’s know-how in decentralized finance and open blockchain technology very well”,
said Nicola Plain, CEO of Aktionariat.
]]></description><link>https://fintechnews.eu/six-digital-exchange-partners-with-aktionariat-to-ease-access-to-capital</link><guid>2748</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>SIX Digital Exchange Partners With Aktionariat to Ease Access to Capital</dc:text></item><item><title>Ireland Economic Development Agency Strengthens Commitment to Startup Ecosystem Development</title><description><![CDATA[Enterprise Ireland, the nation’s economic development agency, has committed to supporting the development a robust startup ecosystem, sharing ambitions to expand the pool of early-stage startups it works with and supports to 450 by 2024, a figure which represents a 20% increase from 2021 levels.
These ambitions were outlined in Enterprise Ireland’s Strategy 2022-2024, which sets out the agency’s areas of focus for the coming years. As part of the plan, Enterprise Ireland says it will focus on accelerating entrepreneurship, and continue to help entrepreneurs start, grow and scale Irish businesses.
Key Performance Indicators, Enterprise Ireland Strategy 2022-2024
This will be done through a number of initiatives, Enterprise Ireland says, including the new EUR 90 million Irish Innovation Seed Fund program launched by the government earlier this year, which will support young startups working in strategic targeted areas like fintech, life sciences and women-led enterprises.


For larger and more established companies, Enterprise Ireland will offer assistance and support to help them scale and internationalize, providing them with pathways to new sources of funding, connecting them with opportunities overseas, and helping them strengthen their management and financial capabilities. The aim is to increase the number of companies achieving sales of over EUR 10 million, EUR 20 million and EUR 50 million by 10% by 2024.
Efforts will also be put on skill development, the agency says. It has set a target of supporting 1,000 leaders and managers on significant management development programs, with at least 30% participation by women.
Fostering innovation
Established in 1998, Enterprise Ireland is the state agency responsible for the development and growth of Irish enterprises in world markets, helping them start, grow, innovate, and increase export sales.
The agency also provides funding and supports for companies of all sizes and growth stages, ranging from entrepreneurs with business propositions for a high potential startup, to large companies expanding their activities, improving efficiency and growing international sales.
Enterprise Ireland’s role differs from that of the Industrial Development Agency (IDA Ireland), the country’s inward investment promotion and development agency which is responsible for the attraction and development of foreign investment in Ireland.
This arrangement stands out from other jurisdictions like Switzerland, Hong Kong and Lithuania where only one investment promotion agency exists. These agencies typically act as a resource center for foreign companies looking to launch locally, helping them setting up and providing them with consultancy and support services free of charge.
Enterprise Ireland, meanwhile, has taken an active role in fostering the Irish startup ecosystem by both helping homegrown startups expand overseas, and assisting foreign entrepreneurs in relocating to Ireland.
In 2021, the agency supported 82 new high potential startups through investments of more than EUR 18 million and other non-financial supports. 24 of these were led by female entrepreneurs and 11 emerged from academic research.
Also in 2021, 43 pre-seed companies went through the Competitive Start Fund (CSF), which provides select companies with up to EUR 50,000 in equity funding. These received a combined funding of EUR 2 million.
For the past three years, Pitchbook has ranked Enterprise Ireland amongst the top ten most active venture capital (VC) investors in the world alongside world-renowned VCs and incubators like Y Combinator, SOSV and Sequoia Capital.
]]></description><link>https://fintechnews.eu/ireland-economic-development-agency-strengthens-commitment-to-startup-ecosystem-development</link><guid>2747</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Key-Performance-Indicators-1024x650.png?x30842</dc:content ><dc:text>Ireland Economic Development Agency Strengthens Commitment to Startup Ecosystem Development</dc:text></item><item><title>Facebook Pay Rebrands to Meta Pay to Align with Broader Metaverse Ambitions</title><description><![CDATA[Facebook’s parent company Meta has rebranded its online payments service to Meta Pay, bringing the firm’s payments offering closer to its broader rebrand and aligning it with its grand ambition to building the ultimate metaverse.
On June 23, 2022, Facebook Pay officially became Meta Pay, a change that is first being rolled out in the US, before being extended globally, Stephane Kasriel, head of commerce and fintech at Meta Platforms, wrote in a blog post.
Meta Pay will be the same as Facebook Pay, he said, allowing users to add and manage their payment methods, make payments and purchases, and send money across all of Meta’s platforms and third parties supporting the digital wallet, view payment history, and update their settings in one place.


Meta Pay, Source: Facebook
Enabling payments in the metaverse
The name change is the first step in Meta’s ambition to build a “digital wallet for the metaverse,” co-founder and CEO Mark Zuckerberg, wrote in a June 22, 2022 Facebook post.
Sharing his vision, Zuckerberg said the digital wallet should allow users to securely manage their identity, how they pay and what they own in the metaverse, whether that’s fiat currencies or digital items, like clothing, art and videos. It should also provide users with proof-of-ownership over the digital goods they possess.
Ideally, users would be able to transport there digital items across different virtual environments and use them easily on any platform. This level of interoperability would deliver much better experiences for people and larger opportunities for creators, Zuckerberg said.
Meta’s plans for its payments business was detailed earlier this year by Kasriel who shared in a blog post aspirations to create a “single payment experience.”
This vision is articulated around three key goals and capabilities: allowing users to prove who they are and carry that identity with them across different virtual environments; allowing them to store the digital goods they own and take them wherever they go; and allowing them to pay easily and with the payment method they want wherever they are virtually.
The company’s focus on the Meta Pay digital wallet was further evidenced earlier this month by the announcement of the termination of Novi, the social media company’s digital wallet payments pilot. The pilot will be shut down on September 01, 2022, effectively ending its three-year Diem experiment with cryptocurrencies and stablecoins.
The company told CoinDesk it had plans to repurpose its technology for future products and its metaverse initiative.
“We are already leveraging the years spent on building capabilities for Meta overall on blockchain and introducing new products, such as digital collectibles,” Meta told the media outlet. “You can expect to see more from us in the Web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse.”
NFTs and digital collectibles
In parallel, Meta is experimenting with non-fungible tokens (NFTs), launching in May the testing of a feature that allows a select group of US creators and collectors to share and showcase the NFTs they have created or bought on Instagram.
The feature includes a connection with a digital wallet, the ability to share and post digital collectibles and their public information, as well as automatic tagging of both the creator and collector.
The test was extended to a select group of Facebook users in June.
Kasriel told the Financial Times in an interview earlier this month that despite the sharp downturn in the cryptocurrency market, Meta’s plans to bring digital collectibles to its users remain unchanged. The firm views NFTs as an opportunity to attract creators back to Facebook and Instagram by giving them a means to monetize their content.
“The opportunity [Meta] sees is for the hundreds of millions or billions of people that are using our apps today to be able to collect digital collectibles, and for the millions of creators out there that could potentially create virtual and digital goods to be able to sell them through our platforms,” Kasriel said.
Facebook’s parent company changed its name to Meta Platforms in October 2021, and pledged billions of dollars of investments to build what it believes is the successor of mobile Internet: an immersive virtual environment available through augmented reality (AR) and virtual reality (VR) headsets and other hardware.
]]></description><link>https://fintechnews.eu/facebook-pay-rebrands-to-meta-pay-to-align-with-broader-metaverse-ambitions</link><guid>2746</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Facebook Pay Rebrands to Meta Pay to Align with Broader Metaverse Ambitions</dc:text></item><item><title>FNZ Snaps up Swiss Private Banking Tech Company New Access</title><description><![CDATA[London-based wealth management platform FNZ announced that it has acquired New Access, a private banking technology firm primarily active in the markets of Switzerland, Liechtenstein and Luxembourg. Terms of the agreement were not disclosed.
FNZ said that the above-mentioned markets were key to its growth plans in the US$240 trillion global wealth market.
The strategic acquisition of New Access represents a further investment by FNZ into the growing private banking and cross-border wealth sector after a number of customer successes and the acquisition of the Swiss tech innovator Appway in February 2022.


FNZ is looking to become an end-to-end wealth platform to enable wealth managers to rapidly deliver personalised services and innovative wealth products.
With more than 200 engineers and product experts, New Access has developed innovative solutions for more than 60 private banks and wealth management firms.
With now more than 200 local FNZ employees, Switzerland will become a key private banking competence center driving the further expansion within this vertical.
Today, FNZ said that it administers more than US$1.5 trillion in client assets on its platform for over 20 million clients worldwide.
The company operates in 21 countries and partners with over 650 financial institutions and over 8,000 wealth management firms.
Adrian Durham
Adrian Durham, CEO, FNZ Group said,
“We are excited that FNZ and New Access are coming together to provide private banks and wealth managers with an unrivalled full service, end-to-end wealth management platform that will help them deliver significant operational efficiencies and improve the client experience.

Both our companies have a shared vision to open-up wealth, empowering all people to create wealth through personal investment, aligned with things they care about the most, on their own terms. We are delighted to welcome the talented New Access team into FNZ.”
Vincent Jeunet
Vincent Jeunet, CEO of New Access said,
“We are excited to be joining FNZ as we transform the industry and open up wealth together. Combining our solutions and expertise with the global strength, scale and commitment of FNZ to the global private banking market is a great opportunity for New Access and our clients.

New Access customers will benefit from FNZ’s significant investment and track record in the private banking sector that will help them to reduce operational complexity, generate significant efficiencies while freeing them up to focus on their client experience.”
]]></description><link>https://fintechnews.eu/fnz-snaps-up-swiss-private-banking-tech-company-new-access</link><guid>2744</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>FNZ Snaps up Swiss Private Banking Tech Company New Access</dc:text></item><item><title>Crypto.com Secures Regulatory Approval to Operate in Italy</title><description><![CDATA[Crypto.com announced that it has received registration and regulatory approval from the Organismo Agenti e Mediatori (OAM) in Italy as a provider of virtual currency and digital wallet services.
This approval will enable Crypto.com to offer a suite of products and services to Italian customers in compliance with local regulations.
Crypto.com has also recently received registration in Greece from the Hellenic Capital Market Commission, in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, and provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority.


According to Crypto.com, it continues to actively grow and expand its ecosystem with more than 50 million users worldwide.
Kris Marszalek
“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.

We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”
said Kris Marszalek, Co-founder and CEO of Crypto.com.
]]></description><link>https://fintechnews.eu/cryptocom-secures-regulatory-approval-to-operate-in-italy</link><guid>2743</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Crypto.com Secures Regulatory Approval to Operate in Italy</dc:text></item><item><title>Fintech Funding Slows Down in Switzerland</title><description><![CDATA[In the first half of 2022, fintech companies in Switzerland raised a total of CHF 349 million through 23 rounds, falling behind sectors including information and communications technology (ICT) and cleantech, data from Startupticker.ch’s Swiss Venture Capital Report 2022 Update show.
The figures showcase a slowdown in fintech funding in H1 2022, during which the sector only accounted for 13% of all startup funding and 14% of deals. In comparison, Swiss fintech companies raised CHF 857.9 million out of the CHF 3 billion closed by Swiss startups in 2021, giving the sector a 28% market share in all invested capital for the year.
Swiss venture capital funding by sector, Source: Swiss Venture Capital Report 2022 Update, Startupticker.ch
The downtrend in fintech funding is further apparent when considering that H1 2022 was a record period of Swiss startup financing. In the first half of the year, Swiss startups raised a total of CHF 2.6 billion through more than 160 rounds, a ~50% year-on-year (YoY) increase in volume and 31% YoY increase in deal count.


Investments in Swiss startups in first half of year, Source: Swiss Venture Capital Report 2022 Update, Startupticker.ch
Investors favor cleantech and healthcare
Startupticker.ch’s Swiss Venture Capital Report 2022 Update shows that investors shifted away from the fintech sector in H1 2022 to dabble into other industries including cleantech, healthcare, and micro and nanotechnology.
This is evidenced by large rounds closed by startups like Climeworks (CHF 600 million), a company that specializes in carbon dioxide air capture technology; MindMaze (CHF 96.7 million), a digital neurotherapeutic platform; DistalMotion (CHF 82.6 million), a medical device company; and Immunos Therapeutics (CHF 71.4 million), a biotechnology company.
Climeworks was amongst the three Swiss startups that reached unicorn status in H1 2022, alongside SonarSource, a developer of open source software for continuous code quality and security, and Scandit, a smart data capture and barcode scanning software solutions provider.
While fintech funding stalled in the first six months of the year, three fintech companies managed nevertheless to raise some of H1 2022’s largest rounds of financing: SEBA Bank, a licensed banking institution focused on digital assets, closed a CHF 110 million Series C and H1 2022’s fourth largest round; Sygnum, another digital asset bank, secured CHF 82.4 million in period’s seventh largest round; and Yokoy Group, a spend management firm, raised a US$80 million Series B and H1 2022’s eighth largest round.
Venture funding cools off
The slowdown in fintech funding observed in Switzerland comes amid an economic downturn and global market sell-off that saw shares in recently listed fintech companies being slashed by an average of more than 50% since the start of 2022, according to an analysis by the Financial Times.
A new report by Morningstar company Pitchbook shows that the insurtech segment took the biggest hit, with the seven publicly listed companies tracked by Pitchbook plunging by a staggering 80% over the past year. Similarly, in PitchBook’s neobanking, brokerage and crypto cohort, which comprises five companies, stocks have fallen 59% over the last 90 days.
This landscape has triggered a decline in fundraising for private companies and a drop in startup valuations.
Earlier this month, Swedish buy now, pay later (BNPL) giant Klarna, closed a US$800 million round at a US$6.7 billion valuation, down 85% from US$45.6 billion a year ago. The Wall Street Journal reported just last week that Stripe had lowered its internal valuation 28% to US$74 billion, compared US$95 billion last year.
Data from CB Insights show that Q2 2022 saw the lowest amount of quarterly funding and deals since Q4 2020, standing at just US$20.4 billion and 1,225 rounds.
Quarterly fintech funding and deals, Source: CB Insights, July 2022
The deteriorating climate has led fintech companies including British digital bank Zopa and mobile banking startup Chime to put plans for initial public offerings (IPOs) on hold. Others like Klarna, Robinhood and Coinbase, meanwhile, have been forced to embark on big layoffs.
According to an analysis by Roger Lee of Layoffs.fyi, fintech startups accounted for the third largest number of layoffs, by percentage, globally in H1 2022. As of July 1, some 3,709 employees — excluding crypto companies — had been laid off across 41 “layoff events” in the second quarter of 2022, Lee estimates.

Featured image credit: Edited from Unsplash and Freepik
]]></description><link>https://fintechnews.eu/fintech-funding-slows-down-in-switzerland</link><guid>2741</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Swiss-venture-capital-funding-by-sector-Source-Swiss-Venture-Capital-Report-2022-Update-Startupticker.ch_.png?x30842</dc:content ><dc:text>Fintech Funding Slows Down in Switzerland</dc:text></item><item><title>SAP Green Tokens Tap Blockchain for Improved Transparency in Plastic Recycling</title><description><![CDATA[DIC Corporation, one of Japan’s leading fine chemical manufacturers, is launching a pilot project which seeks to utilize blockchain technology and crypto tokens to improve transparency in plastic recycling and help it meet its environmental, social and governance (ESG) goals.
The pilot will use SAP’s GreenToken and will allow DIC, which produces and sells polystyrene, but also specialty plastics, printing inks, compounds as well as biochemicals, to track raw materials along the supply chain.
The aim here is to gain greater visibility over the manufacturing and inspection processes, as well as access critical information on physical properties and quality of the recycled materials.


This will ultimately allow customers to know with certainty how much recycled material is contained in their products when they use recycled plastic materials, and will enable them to make better informed decisions.
The project, which is part of DIC’s ongoing recycling initiative for food packaging, will also help the company “substantiate environmental claims,” Yuji Morinaga, Executive Officer and General Manager of the Packaging Materials Product Division of DIC, said in a press statement, and help refute any doubt of greenwashing.
Chemical recycling is critical to accelerate the shift to a circular economy and yet plastic from chemically recycled plastic waste is indistinguishable from plastic from conventional sources, James Veale, GreenToken by SAP’s co-founder, said. This opacity leaves room for misleading information and deception.
Just last month, a new report released by the Changing Markets Foundations (CMF) claims that huge multinationals like Coca-Cola and Unilever are misleading consumers by stating that their plastic packaging is environmentally friendly.
“Our latest investigation exposes a litany of misleading claims from household names consumers should be able to trust,” George Harding-Rolls, campaign manager at CMF, said, as quoted by the Guardian. “The industry is happy to gloat its green credentials with little substance on the one hand, while continuing to perpetuate the plastic crisis on the other.”
For example, Perfetti Van Melle, the maker of Mentos mints, has made grand claims about new cardboard box packaging, but yet, the firm has failed to mention that the packaging is an unrecyclable composite material made out of card, aluminum and plastic, the report says.
Another example is Proctor and Gamble’s Head and Shoulders shampoo bottles, which are promoted as being made out of “beach plastic” but yet are dyed blue meaning that they cannot be recycled further, it says.
Improving supply chain transparency
GreenToken is able to tackle these problems by making use of blockchain technology and tokenization to enable visibility of any one or more unique attributes, such as origin, circularity status or carbon footprint, of raw materials across global supply chain networks. These attributes are then recorded in a blockchain-based digital ledger, ultimately providing a complete auditable and immutable chain of custody record for raw materials.
GreenToken by SAP dashboard, Source: GreenToken
Founded and developed in Asia Pacific and Japan as part of the SAP.io intrapreneurship startup program, GreenToken by SAP is one of the many blockchain projects that have emerged over the past couple of years to address transparency challenges in long and complex supply chains.
IBM, for example, has developed one of the largest blockchain-based agrifood platforms in the world, bringing together hundreds of growers, food manufacturers and retailers including Dole, Nestlé, Walmart and Carrefour, onto its IBM Food Trust platform for end-to-end food visibility across global supply chains.
In the pharmaceutical industry, healthcare services provider Zuellig Pharma has created a traceability solution called eZTracker. eZTracker tracks individual products and packs, and can be applied in use case such as real-time counterfeit detection and cold chain monitoring.
GreenToken’s partnership with DIC was unveiled just a few months after SAP inked a similar pilot project with Unilever to increase transparency in the global palm oil supply chain.
It followed a successful proof-of-concept in Indonesia where GreenToken was used to track, verify and report in near real time the origins and journey that palm oil took through its entire supply chain.

Featured image credit: DIC
]]></description><link>https://fintechnews.eu/sap-green-tokens-tap-blockchain-for-improved-transparency-in-plastic-recycling</link><guid>2742</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>SAP Green Tokens Tap Blockchain for Improved Transparency in Plastic Recycling</dc:text></item><item><title>BX Swiss and FlowBank to Waive Fees for Swiss Shares Trading</title><description><![CDATA[The Swiss stock exchange BX Swiss and the Geneva-based online bank FlowBank announced that they will enable private investors to trade Swiss shares with zero commission until further notice.
BX Swiss has welcomed FlowBank as a new trading partner.
FlowBank holds a banking license issued by the Swiss Financial Market Supervisory Authority (FINMA) since summer 2020.


Through this partnership, FlowBank customers can manage securities digitally and trade cost-effectively via BX Swiss via the FlowBank app or the FlowBank Pro trading platform.
Lucas Bruggeman
“With FlowBank, we are pleased to welcome a new strong, innovative partner on our side.

This cooperation, enables us to cover the needs of active and interested private investors even better.”
says Lucas Bruggeman, CEO of BX Swiss.
Charles Henri Sabet
“With this decision, we are providing both new and experienced investors a better value on their trades.

It makes us particularly proud to be the first and only Swiss bank to offer zero commissions on Swiss stocks,”
said Charles Henri Sabet Founder and CEO of FlowBank.


Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/bx-swiss-and-flowbank-to-waive-fees-for-swiss-shares-trading</link><guid>2740</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>BX Swiss and FlowBank to Waive Fees for Swiss Shares Trading</dc:text></item><item><title>BLKB unterstützt St.Galler FinTech Kaspar&amp;</title><description><![CDATA[Kaspar&amp; ist seit Ende Februar 2022 auf dem Schweizer Markt. Das Spin-off der HSG und ETH offeriert mit seinem App Zahlungsmöglichkeiten und regt seine User zum Sparen und Anlegen an.
Die BLKB unterstützt das FinTech Start-up und seine innovativen Lösungen für Open Finance und strebt eine Minderheitsbeteiligung an.
Die Kundinnen und Kunden von Kaspar&amp; profitieren von einem gebührenfreien Schweizer Bankkonto und einer Prepaid Mastercard. Beim Bezahlen mit Kaspar&amp; hat der Kunde bzw. die Kundin die Möglichkeit, Beiträge aufzurunden und diese minimalen Beträge in einem Portfolio aus Indexfonds und ETFs zu investieren.


Einfach und digital
John Häfelfinger, CEO of BLKB
Die BLKB unterstützt das weitere Wachstum von Kaspar&amp;. John Häfelfinger, CEO der BLKB, sieht viel Potential speziell für digital affine Kund:innen:
“Die Lösung von Kaspar&amp; besticht durch den digitalen Zugang, die Benutzerfreundlichkeit und die Automatisierung des Anlagegeschäftes. Als kundenorientierte Bank sind für uns einfach zu integrierende Open Finance Lösungen die Zukunft. Die finanzielle Unterstützung der BLKB bildet die Grundlage für eine langfristige Partnerschaft.”


HSG und ETH Spin-off mit FINMA Lizenz
Kaspar&amp; wurde 2020 von den vier Gründern Dr. Jan-Philip Schade, Dr. Lukas Plachel, Sebastian Büchler und Lauro Böni als HSG und ETH Spin-off in St.Gallen gegründet. Kaspar&amp; erhielt als erstes FinTech von der FINMA die Lizenz als Vermögensverwalterin. Kaspar&amp; wurde jüngst in das F10 Inkubator Programm der SIX aufgenommen, bei welchem vertieft Anwendungsfelder im Open Finance Bereich erarbeitet werden. Mittelfristig will Kaspar&amp; nebst der konkreten Open Finance Ausarbeitung das aktuelle Produktangebot erweitern. Dies beinhaltet zum Beispiel den Ausbau der kürzlich ausgerollten Versicherungsintegration sowie die Entwicklung neuer Dienstleistungen in den Bereichen Vorsorge und Spenden.
Featured image credit: Unsplash
]]></description><link>https://fintechnews.eu/blkb-unterstutzt-stgaller-fintech-kaspar</link><guid>2738</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>BLKB unterstützt St.Galler FinTech Kaspar&amp;</dc:text></item><item><title>BLKB unterstützt St.Galler Wealthtech Startup Kaspar&amp;</title><description><![CDATA[Kaspar&amp; ist seit Ende Februar 2022 auf dem Schweizer Markt. Das Spin-off der HSG und ETH offeriert mit seinem App Zahlungsmöglichkeiten und regt seine User zum Sparen und Anlegen an.
Die BLKB unterstützt das FinTech Start-up und seine innovativen Lösungen für Open Finance und strebt eine Minderheitsbeteiligung an.
Die Kundinnen und Kunden von Kaspar&amp; profitieren von einem gebührenfreien Schweizer Bankkonto und einer Prepaid Mastercard. Beim Bezahlen mit Kaspar&amp; hat der Kunde bzw. die Kundin die Möglichkeit, Beiträge aufzurunden und diese minimalen Beträge in einem Portfolio aus Indexfonds und ETFs zu investieren.


Einfach und digital
John Häfelfinger, CEO of BLKB
Die BLKB unterstützt das weitere Wachstum von Kaspar&amp;. John Häfelfinger, CEO der BLKB, sieht viel Potential speziell für digital affine Kund:innen:
“Die Lösung von Kaspar&amp; besticht durch den digitalen Zugang, die Benutzerfreundlichkeit und die Automatisierung des Anlagegeschäftes. Als kundenorientierte Bank sind für uns einfach zu integrierende Open Finance Lösungen die Zukunft. Die finanzielle Unterstützung der BLKB bildet die Grundlage für eine langfristige Partnerschaft.”


HSG und ETH Spin-off mit FINMA Lizenz
Kaspar&amp; wurde 2020 von den vier Gründern Dr. Jan-Philip Schade, Dr. Lukas Plachel, Sebastian Büchler und Lauro Böni als HSG und ETH Spin-off in St.Gallen gegründet. Kaspar&amp; erhielt als erstes FinTech von der FINMA die Lizenz als Vermögensverwalterin. Kaspar&amp; wurde jüngst in das F10 Inkubator Programm der SIX aufgenommen, bei welchem vertieft Anwendungsfelder im Open Finance Bereich erarbeitet werden. Mittelfristig will Kaspar&amp; nebst der konkreten Open Finance Ausarbeitung das aktuelle Produktangebot erweitern. Dies beinhaltet zum Beispiel den Ausbau der kürzlich ausgerollten Versicherungsintegration sowie die Entwicklung neuer Dienstleistungen in den Bereichen Vorsorge und Spenden.
Featured image credit: Unsplash
]]></description><link>https://fintechnews.eu/blkb-unterstutzt-stgaller-wealthtech-startup-kaspar</link><guid>2739</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>BLKB unterstützt St.Galler Wealthtech Startup Kaspar&amp;</dc:text></item><item><title>Economic Downturn and Market Sell-Off Take a Toll on Fintech Fundraising, Valuation</title><description><![CDATA[2021 was a record-breaking year for fintech funding and unicorn minting. Globally, fintech companies attracted an all-time high US$132 billion last year, more than double 2020’s figure. Soaring funding activity pushed valuations to new heights, allowing 157 fintech companies to reach unicorn status.
But this year’s inflation surge, rising interest rates and economic downturn have triggered a stock market meltdown. The New York Nasdaq, which contains many of the world’s most valuable listed technology companies, has fallen 32% from its all-time high set in November 2021, and Ark’s Innovation exchange traded fund (ETF) (ARKK), which invests in disruptive innovation companies, has dropped more than 50% since the start of 2022.
This landscape has prompted a fundraising downtrend for private companies and a drop in startup valuations as investors become more sensitive to risk assets and less patient with unprofitable firms, a new report by Morningstar company Pitchbook says.


With investors’ patience wearing thin, public fintech companies will likely be pressured to focus on profitability by seeking new revenue streams, cutting costs, exiting money-losing businesses, and even seeking an acquirer. Late-stage startups, meanwhile, could be enticed to remain private for a longer period of time as they focus on investing in growth over profitability, the report says.
Insurtech stocks plunge 80%; neobanks, brokers and crypto drop 59%
The document, titled Fintech Q2 Public Company Valuation Guide, looks at stock performance, revenue forecasts and market capitalizations of key publicly traded fintech companies to understand the potential impact of public companies on the private markets.
According to the analysis, publicly listed fintech companies in the insurtech, neobanking, online brokerage and cryptocurrency spaces, have taken a massive hit this year.
PitchBook’s insurtech cohort, which comprises six insurtech companies, plunged by a staggering 80% over the past year. All of these companies are expected to generate negative earnings per share (EPS) in through 2024.
Similarly, in PitchBook’s neobanking, brokerage and crypto cohort, which comprises five companies, stocks have fallen 59% over the last 90 days. Four out of five of these companies are expected to generate negative EPS through 2024.
Plummeting stock prices and poor profit expectations could cause investors to pressure insurtech companies, neobanks, brokers and crypto outlets, to restructure, notably by reducing headcount and outsourcing jobs to inexpensive locations, or to seek an acquirer, PitchBook predicts.
This will likely impact the valuation of late-stage startups in these categories such as homeowners insurance provider Kin Insurance, health insurance startup Bind, crypto derivatives exchange FTX, and online broker eToro, the report notes.
Although high-growth payments and infrastructure companies have declined by 40% in the last 30 days – similar to insurtech companies and neobanks, online brokers and crypto companies –, four of the six companies comprising this category are already generating positive EPS, presenting an encouraging outlook on stock prices for the near future.
“We believe public investors in payments and fintech companies are likely to be more patient as many legacy payments firms generate attractive margins and benefit from operating leverage,” the report says. “Contrast this with neobanks and insurtech, which are unproven in their ability to generate consistent profits.”
Funding dries up
The global market sell-off and economic downturn have changed the funding environment for startups dramatically.
In Q2 2022, global fintech funding saw US$20.4 billion raised, the lowest amount of quarterly funding and deals since Q4 2020, according to CB Insights.
As belts tighten, many fintech companies struggling to raise funding were forced to accept lower valuations to stay afloat. In June, London-based payments services provider SumUp raised funding at a valuation of EUR 8 billion, slashing its valuation by 60% from earlier this year.
Similarly, Swedish buy now, pay later (BNPL) giant Klarna, closed a US$800 million round just this week at a US$6.7 billion valuation, down 85% from US$45.6 billion a year ago. In May, Klarna CEO Sebastian Siemiatkowski announced it will lay off 10% of its global workforce, citing market constraints. As many as 700 people will be affected.
Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/economic-downturn-and-market-sell-off-take-a-toll-on-fintech-fundraising-valuation</link><guid>2737</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Economic Downturn and Market Sell-Off Take a Toll on Fintech Fundraising, Valuation</dc:text></item><item><title>Wealthtech Tifin Acquires Professional Investor Community Platform SharingAlpha</title><description><![CDATA[TIFIN, a fintech platform using artificial intelligence (AI) and investment-driven personalization to shape the future of investor experiences, announced its initial launch into international markets through the acquisition on SharingAlpha, a community of over 15,000 professional fund investors and analysts located throughout the world, but with a high concentration in the UK and Western Europe.
SharingAlpha offers professionals the opportunity to build their own personal track record in terms of both their fund selection and asset allocation capabilities. Investors can gain the community’s intelligence on funds’ chances of generating alpha in the future from the collective knowledge gathered on the platform from members of the SharingAlpha community. Co-founded six year ago by two Israeli brothers, Oren and Yuval Kaplan, has become the world’s largest community of professional fund buyers.
Following the acquisition, SharingAlpha will be fully integrated into TIFIN’s Magnifi platform. The integration will offer both retail and professional investors from all over the globe unique digital tools to enhance their personal investment experience leveraging the AI-powered investment intelligence on Magnifi’s existing platform now augmented with SharingAlpha’s proprietary community intelligence insights. Oren Kaplan will also join Magnifi as a partner and work closely with TIFIN’s recently announced Head of International Jason O’Shaughnessy on the integration of the platforms.


Dr. Vinay Nair, CEO of TIFIN
“Being able to now offer Magnifi’s investment intelligence and capabilities to non-US investors is definitely an important step in our evolution.”
said Dr. Vinay Nair, Founder, and CEO of TIFIN.
“We are also excited about adding the unique community features developed by SharingAlpha which will enhance our offering to professional investors internationally”.

Oren Kaplan, Co-Founder and CEO of SharingAlpha
“I am looking forward to working with Magnifi’s team in expanding its reach internationally and in growing the community of professional investors even further.”
said Oren Kaplan, Co-Founder and CEO of SharingAlpha,
“We will continue to be committed to building innovative and useful digital tools to global investors”.

This article first appeared on fintechnews.am
Featured image credit: LinkedIn
]]></description><link>https://fintechnews.eu/wealthtech-tifin-acquires-professional-investor-community-platform-sharingalpha</link><guid>2736</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Wealthtech Tifin Acquires Professional Investor Community Platform SharingAlpha</dc:text></item><item><title>Kaleido Private Bank to Leverage InCore Bank’s Digital Asset Services</title><description><![CDATA[Kaleido Private Bank has selected banking service provider InCore Bank and IT service provider SOBACO to revamp its business processes as well as transaction banking.
The boutique bank has also opted for the additional integration of InCore Bank’s Digital Asset Services.
The solution, which is seamlessly integrated into core banking and banking processes, gives banks and their clients the ability to trade a wide variety of cryptocurrencies and tokens 24/7 and benefit from a secure Swiss custody solution.


Outsourcing the services to InCore Bank allows the bank to concentrate on individual customer consulting and focus on strategic issues – the long-term development of the organisation, products and services increasingly includes dealing with digital assets.
As a transaction bank, InCore Bank has been intensively dealing with all facets of digitalisation.
The pure business-to-business bank received approval for the trading, custody, transfer and tokenisation of digital assets as early as May 2020.
Daniel Blatter
“Our offering meets a market and customers’ needs. With Kaleido Private Bank, the third renowned financial institution from our Private Banking Hub has opted for our Digital Asset Services in a very short time – in addition to various other financial institutions that benefit from this offer,”
said Daniel Blatter, Head Digital Services of InCore Bank.

Markus Abbassi
“Digital assets have found their place in the investment universe of many investors. Their importance in the market is growing, as is the demand from our clients. We are convinced that we are only at the beginning of a development with many exciting opportunities.

For us, it was obvious to take this step forward together with InCore Bank. With our decision for the Private Banking Hub and Digital Asset Services, we have laid a solid foundation.”
said Markus Abbassi, Head Digital Assets at Kaleido Private Bank.
]]></description><link>https://fintechnews.eu/kaleido-private-bank-to-leverage-incore-banks-digital-asset-services</link><guid>2734</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Kaleido Private Bank to Leverage InCore Bank’s Digital Asset Services</dc:text></item><item><title>New Research Finds Centralization Risks in Public Blockchains, Cryptocurrencies</title><description><![CDATA[Despite claims of immutability and decentralization, cryptocurrencies and public blockchains, including Bitcoin and Ethereum, are not quite delivering on their promises and are seeing a concentration of power in the hands of a few players.
A new report, commissioned by the US Defense Advanced Research Projects Agency (DARPA) and produced by software security research company Trail of Bits, examines the fundamental properties of blockchains and the cybersecurity risks associated with them, highlighting “unintended centralities” in distributed ledgers like Bitcoin.
Findings from the Trail of Bits research shows that blockchain immutability can be broken and that various actors could theoretically garner excessive and centralized control over a network.


First, the research found that the Nakamoto coefficient, a metric which gauges the decentralized nature of a blockchain by identifying the number of entities sufficient to disrupt a public blockchain, is relatively low for most popular public blockchain networks, indicating that the level of centralization is rather high.
For Bitcoin, for example, the Nakamoto coefficient stands at four because taking control of the four largest mining pools would provide a hashrate sufficient to execute a so-called 51% attack.
A 51% attack refers to an attack in which a single malicious actor or organization manages to control more than half of the total hashing power of the network, providing them with the ability to override the consensus mechanism of the network and commit malicious acts such as double spending.
For Ethereum, the Nakamoto coefficient is three, and for most proof-of-stake (PoS) networks, like Solana, Cosmos and Polygon, the coefficient is less than a dozen, the report says.
The Nakamoto coefficients for popular PoS blockchains as of August 25, 2021, Source: Trail of Bits, 2022
Another troubling find is that 60% of all Bitcoin traffic goes through only three Internet service providers (ISPs), a state that is concerning because these ISPs and hosting providers could potentially “arbitrarily degrade or deny service to any node,” the report says.
“Let’s say somebody with great top-down control of the Internet in their country starts to interfere with that network: they can rewrite history, they can censor transactions, they can make it so that you can’t spend your Bitcoin,” Trail of Bits CEO Dan Guido told NPR in an interview. “It’s definitely something people would want to do if they want to ‘grief’ the network.”
Additionally, the research found that a staggering 21% of Bitcoin nodes are running an old version of the Bitcoin core client that is known for having vulnerabilities. These computers could be targeted by an attacker looking to take over the majority of a blockchain network.
Centralization of popular cryptocurrency networks like Bitcoin comes as a result of the expansion and growth of the ecosystem, but it has ultimately derailed cryptocurrencies from their original course and introduced risks.
Before China’s crypto mining ban in May 2021, the country accounted for most of Bitcoin mining, data from the Cambridge University’s Cambridge Centre for Alternative Finance (CCAF) show. At its peak, China accounted for over three quarters of all Bitcoin mining, implying that the country could have potentially mounted a 51% attack.
Evolution of network hashrate, Source: Cambridge University’s Cambridge Centre for Alternative Finance (CCAF), July 2022
Although Bitcoin has so far never suffered a 51% attack, other blockchain networks have. One of the biggest attacks targeted Bitcoin Gold and saw a reported US$18 million worth of crypto being stolen back in 2018.
Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/new-research-finds-centralization-risks-in-public-blockchains-cryptocurrencies</link><guid>2733</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>New Research Finds Centralization Risks in Public Blockchains, Cryptocurrencies</dc:text></item><item><title>Adyen Goes Live With Tap to Pay on iPhone</title><description><![CDATA[Adyen has officially launched Tap to Pay on iPhone, which allows businesses to use iPhones to accept contactless payments without the need to purchase or manage additional hardware.
By partnering with NewStore, businesses including Vince and Burton can accept payments with a simple tap of a customer’s iPhone. Adyen is also partnering with New Black to enable this capability for retailers including G-Star and Scotch &amp; Soda. In addition to offering the solution to partners, Tap to Pay on iPhone will also be made available directly to retailers and platforms including Nike, Lightspeed Commerce Inc, and Fresha.
Jack Schwefel
“We’re excited to expand upon our partnership with NewStore and Adyen to become one of the first retailers in their network to bring Tap to Pay on iPhone to our retail store locations,”
said Jack Schwefel, Chief Executive Officer, Vince.


“Our customers expect an elevated in-store experience and we are confident that the ease and convenience of this new payment option will resonate with both current and new Vince shoppers.”
Brian McAllister
“NewStore and Adyen are always on top of the emerging trends that allow us to provide the best shopping experience possible, and bringing Tap to Pay on iPhone to our stores this quickly and easily is a great example of that,”
added Brian McAllister, Director of Global Operations, Consumer Direct, Burton.
“The biggest advantage of this feature is it eliminates our dependence on traditional payment terminals, which means we can now offer an even more seamless and secure way to accept payments.”
Tap to Pay on iPhone will enable Adyen’s customers to stay at the forefront of innovation by:

Simplifying in-person payments by removing the dependence on payment hardware to accept transactions, providing a complementary way to accept payments for line-busting.
Getting up and running quickly with installation and onboarding, allowing businesses to scale up their payment operation.
Providing safe and fast checkout experiences that increases mobility on location.
Allowing for a convenient and secure way to pay for customers since transactions are encrypted and payment data is protected by the same technology that makes Apple Pay private and secure.


This article first appeared on fintechnews.am


Featured image credit: Adyen
]]></description><link>https://fintechnews.eu/adyen-goes-live-with-tap-to-pay-on-iphone</link><guid>2732</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Adyen Goes Live With Tap to Pay on iPhone</dc:text></item><item><title>Oper Credits Raises €11 Million in Series A Funding Round</title><description><![CDATA[Oper Credits, a Belgian-Swiss digitised mortgage SaaS firm and a F10 alumni, announced that it has secured a €11 million Series A equity round led by Bessemer Venture Partners and ABN AMRO Ventures.
The fundraise was also joined by its existing shareholders from its seed round including Techstars, Pitchdrive and Verve Ventures.
With this new funding, Oper will focus developing the building blocks needed to gather data from a variety of sources, including payroll, income stats, spending habits etc. and then in turn process this information within the mortgage context to reduce the approval time and create a better experience for the borrower.


Oper has official offices are in Antwerp and Zurich currently employs a total of 45 people to serve its 13 clients – a figure the company is looking to double in the next year.
The company has closed around €1 billion of mortgage loans and in the last year has seen its monthly recurring revenue increase by eightfold.
Wouter Lachat
Wouter Lachat, Co-Founder and CPO of Oper Credits said,
“Further to increased investment in R&amp;D and recruitment, it is international growth that we’re focusing on.

For us, France and Germany are the priority markets, as well as Austrian, Czech and Slovakian opportunities too.”
Nick Van Berckelaer
Nick Van Berckelaer, Co-Founder and CTO of Oper Credits said,
“We’re growing and we’re growing fast, and we couldn’t have done it without the amazing team we’re building across Europe.

There’s no doubt we’ll be hiring even more in the future to help us grow our loan book, client-base and ultimately our revenue. We have huge ambitions and need the right people to help us achieve them!”

Featured image: Oper Credits Team
]]></description><link>https://fintechnews.eu/oper-credits-raises-11-million-in-series-a-funding-round</link><guid>2731</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Oper Credits Raises €11 Million in Series A Funding Round</dc:text></item><item><title>F10 Set to Tokenise Its Shares on the SIX Digital Exchange</title><description><![CDATA[Swiss fintech accelerator F10 will issue its shares on the SIX Digital Exchange (SDX), a regulated digital asset exchange and Central Securities Depository (CSD), where shares are tokenised, while the share registry services will be provided by Aequitec, a digital share register and cap table company.
Tokenised private shares are transferrable in the form of dematerialised intermediated securities on the SDX DLT platform according to Swiss law.
With this new partnership approach, financial institutions can move beyond today’s business model of tailor-made, one-by-one private placement, to a sustainable, digitalised, process-driven business.


Expected benefits are increased efficiency and greater liquidity for private markets.
This represents a major step towards enhancing the share registry process for private companies by using blockchain technology.
Massimo Butti
Massimo Butti, Head of Equity at SDX,
“The issuance of F10 shares on SDX is the result of the cooperation with different market actors.

It provides a scalable blueprint for other issuers and participants to issue digitised shares and affirms that our private issuance market is open for business”.
Jonathan Seiler, CFO and Senior Investment Manager at F10 said,
“Beyond the clear advantages of managing our share registry and all related processes fully digitally at F10, we believe strongly in the power of collaboration to advance the financial industry.

That’s why we are incredibly excited to be the first issuer of shares for this new innovative offer by our partner SDX and F10 alumni Aequitec”.
]]></description><link>https://fintechnews.eu/f10-set-to-tokenise-its-shares-on-the-six-digital-exchange</link><guid>2730</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>F10 Set to Tokenise Its Shares on the SIX Digital Exchange</dc:text></item><item><title>Findependent schliesst 1.2 Mio CHF Seed-Finanzierungsrunde ab</title><description><![CDATA[Im Februar 2021 ging die Anlage-App von findependent live. Seither konnten fast 5000 Kund:innen gewonnen werden. Nun hat das Fintech Startup eine Seed-Finanzierung über 1’200’000 Franken erhalten. Die Gelder stammen von einer Gruppe institutioneller und privater Investoren, als Lead-Investor agiert Backbone Ventures. Die bisherigen Investoren ziehen mit.
Seit dem Auftritt in der TV-Gründershow “Die Höhle der Löwen” im November 2021 konnte findependent die Kundenbasis mehr als vervierfachen. Damals hatten der E-Commerce-Unternehmer Roland Brack und der Amorana-Gründer Lukas Speiser mit ihrer Finanzierung den Wachstumsmotor gestartet.
Überzeugt von den bisherigen Wachstumszahlen und dem umfangreichen Potenzial investiert nun eine Gruppe institutioneller und privater Investoren 1’200’000 Franken.


Matthias Bryner
“Es freut mich, dass wir trotz einer nicht ganz einfachen Marktlage die Finanzierungsrunde wie geplant durchführen konnten“
sagt Matthias Bryner, Gründer und CEO von findependent. Angeführt wird die Investorengruppe von Backbone Ventures.
“Wir sind beeindruckt vom Wachstum und dem kompetenten Team von findependent. Man spürt den Unternehmergeist bei jeder Interaktion”,
erklärt Miklos Stanek von Backbone Ventures die Investitionsentscheidung.
Frisches Kapital fliesst in App-Weiterentwicklung und Marketing
Das nun erhaltene Kapital soll in die Weiterentwicklung der App und in Marketingaktivitäten zur Fortführung des starken Wachstums fliessen. So stellt beispielsweise die Mehrsprachigkeit einen wichtigen Meilenstein dar. Im Laufe dieses Herbstes wird die Anlage-App auch auf Französisch und Englisch verfügbar sein und so zusätzliche Märkte und Zielgruppen erschliessen. “Gleichzeitig sind wir uns der gegenwärtigen Unsicherheiten an den Finanzmärkten bewusst und werden das erhaltene Geld umsichtig einsetzen”, sagt Matthias Bryner. Das Startup plant keinen signifikanten Ausbau des Teams und bleibt seiner schlanken Struktur treu.
Verwaltungsrat verstärkt
Bereits im April 2022 stiess Lukas Speiser zum Verwaltungsrat, welcher Im Rahmen der jetzigen Finanzierungsrunde durch die Einsitznahme von Miklos Stanek komplettiert wird.

]]></description><link>https://fintechnews.eu/findependent-schliesst-12-mio-chf-seed-finanzierungsrunde-ab</link><guid>2729</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/AWS-Financial-Services.png?x30842</dc:content ><dc:text>Findependent schliesst 1.2 Mio CHF Seed-Finanzierungsrunde ab</dc:text></item><item><title>Stableton Raises CHF 15M in Series A Funding Round Led by TX Ventures</title><description><![CDATA[Stableton Financial AG, a Switzerland based platform for Alternative Investments, completed the closing of its CHF 15 million Series A funding round.
The funding round was led by TX Ventures, the VC arm of Swiss media company TX Group. In addition, it included significant investments from the German Fintech investor C3 EOS VC Venture Fund and existing investor DEWB, a German private equity firm focusing on digital finance investments, which also led Stableton’s Seed round. Other participants included family offices, key employees and partners of renowned private equity and venture capital firms, as well as successful entrepreneurs and individuals from the technology and asset management industries, among others.
The fresh funding further enables Stableton to put into effect its vision, which is to empower prosperity and positive impact from Alternative Investments. Specifically, Stableton will use the funds to scale the existing activities in Switzerland, broaden its technological offering and available investment structures, as well as expand internationally during the coming months.


Andreas Bezner
Andreas Bezner, Co-Founder and Managing Partner of Stableton, said:

“We are thrilled that such knowledgeable and high calibre investors such as TX Ventures, C3 and DEWB entrust us with their capital. Despite the short-term market volatility, we see two major long-term macro trends align: the democratization of private markets and the ever-increasing value creation in that segment as disruptive technologies meet ample of funding.”

“We’re in the enviable position to have grown our assets under management 7.5 times since last year’s seed round. With more than 2’500 marketplace users and almost 500 product investors in Switzerland alone, Stableton has developed into a dominant market player, counting more than 2% of Swiss financial intermediaries as our clients. The funding will allow us to double-down on our strategic investments in operations, structures, and regulatory &amp; compliance while scaling and replicating our marketing and sales activities internationally.”
Krzysztof Bialkowski
“We are thrilled to partner up with Stableton and support them on their growth journey going forward. Stableton has shown impressive growth and is well positioned to continue its amazing development in a highly attractive market. We are proud to contribute to democratization of the private markets and we are convinced that the great team at Stableton will succeed – the future looks bright for Stableton.”,
added Krzysztof Bialkowski, Investment Director at TX Ventures.
“As Lead Seed Investor DEWB teamed up early on with Stableton and it was amazing to see how the team evolved from day one resulting in an impressive growth of the business which seems to be just the beginning of a huge success story. Stableton’s highly scalable, fully digital and data-driven infrastructure is on a sweet spot of an investment universe which is already splendid but opens up a multiple by application of its own technology platform to previously unaddressed markets. We are more than pleased to welcome strong co-investors who will contribute much more than an investment.”,

]]></description><link>https://fintechnews.eu/stableton-raises-chf-15m-in-series-a-funding-round-led-by-tx-ventures</link><guid>2728</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Stableton Raises CHF 15M in Series A Funding Round Led by TX Ventures</dc:text></item><item><title>From Crypto Stamp to Crypto Vaults: Swiss Post Office Embraces Bitcoin</title><description><![CDATA[The price of bitcoin has been in freefall in recent weeks, but that doesn’t seem to bother the most conservative of financial institutions – the banking arm of the Swiss post office. PostFinance is stepping up its drive to grant customers access to cryptocurrencies within the next couple of years.
Postfinance already offers clients cryptocurrency exposure through its digital app Yuh. This service draws heavily on a collaboration with Swissquote, which became the first Swiss bank to offer crypto trading for retail clients in 2017. But PostFinance now appears poised to go into direct competition with its business partner with an “independent” trading and custody service by the start of 2024 “at the latest”.
Source: Swiss Post
PostFinance’s executive board have determined that the time is ripe for ramping up the bank’s cryptocurrency offering despite the apparent onset of another period of price stagnation – known as a ‘crypto winter’. “Our clients want direct access to this market through their house bank,” says PostFinance head of retail banking Sandra Lienhart. “Given the growing institutionalisation [of cryptocurrencies] in the last 18 months, this is the ideal time to enter the market.”


Cryptocurrencies, by their very nature, are accessible to anyone at any time. No-one needs a bank to get their hands on bitcoin or to trade ether. Service providers like the Relai app and the Bity brokerage give the person on the street the means to hold or trade cryptocurrencies independently of the traditional financial system.
But some people are prepared to sacrifice direct ownership of their cryptocurrencies for the security of bank vaults and simplified versions of transacting.
I’ve written extensively about Swiss private banks opening crypto services for their wealthy clients. Two entities, SEBA and signum that specialise in this asset class, were awarded banking licenses in 2019. But high street banks have so far been reluctant to enter the fray.
Swissquote has shown that the mass crypto business can be profitable. Revenues from cryptocurrency trading services reached CHF102 million last year and are making up an ever-larger slice of profits at the bank.
There are always some people who argue that crypto and banking should keep each other at arm’s length – either because crypto is too dangerous for banks or that banks are too antiquated for crypto.
But others believe that acceptance of cryptocurrencies by banks is the best way to achieve mass adoption of the new form of digital money.
PostFinance is betting on the latter argument prevailing and is actively seeking business partners to realise this ambition.
If the Swiss post office can issue a crypto postage stamp, then why can’t its bank offer crypto vaults?
]]></description><link>https://fintechnews.eu/from-crypto-stamp-to-crypto-vaults-swiss-post-office-embraces-bitcoin</link><guid>2726</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/swiss-post-crypto-stamp-1024x717.jpeg?x30842</dc:content ><dc:text>From Crypto Stamp to Crypto Vaults: Swiss Post Office Embraces Bitcoin</dc:text></item><item><title>Wefox: 400Mio USD Series-D Finanzierungs-Runde</title><description><![CDATA[Das digitale Versicherungsunternehmen wefox hat in ihrer Series-D Finanzierungsrunde 400 Mio. USD eingenommen. Die Post-Money-Bewertung von wefox steigt so von 3 Mrd. USD im Jahr 2021 auf 4,5 Mrd. USD. Angeführt wird die Finanzierungsrunde von Mubadala Investment Company. Mit dem neuen Investment plant wefox die Expansion in weitereLändermärkte sowie die Weiterentwicklung ihrer Plattform.
Mit einer Unternehmensbewertung von 4,5 Milliarden USD erreicht wefox gemäss eigenen Angaben die bisher höchste Bewertung für ein privates InsurTech-Unternehmen weltweit. Damit läuft wefox gegen den Trend der Abwertungen von Tech-Unternehmen und zeigt auf, dass der europäische Versicherungsmarkt weiterhin auf Innovation setzt und zeitgleich Wachstumspotenzial besitzt.
Julian Teicke
“Der Anstieg unserer Bewertung auf 4,5 Milliarden Dollar ist eine klare Bestätigung unseres Geschäftsmodells und macht uns zum vertrauenswürdigsten InsurTech auf dem Markt. Zusätzlich machen unsere Investitionen in Technologie wefox schon heute zu einem der fortschrittlichsten und effizientesten Versicherungsunternehmen weltweit.”
Julian Teicke, CEO und Co-Founder von wefox


Fokus auf Produktentwicklung und Expansion
In den vergangenen sechs Jahren konnte wefox seinen Umsatz kontinuierlich steigern und in weitere Länder expandieren. 2021 erreichte der Digitalversicherer 320 Mio. USD Umsatz. Für dieses Jahr plant wefox eine erneute Verdopplung mit einem Umsatzziel von 600 Mio. Euro. Die ersten vier Monate 2022 erzielte wefox bereits einen Umsatz von über 200 Mio. USD.
“Mit wachsender Grösse erhöhen sich auch die Möglichkeiten, schneller zu skalieren. Schon bald werden wir neue Märkte in Europa erschließen. Im Anschluss planen wir über Europa hinaus zu expandieren und haben die USA und Asien im Fokus. Bis dahin verdoppeln wir die Entwicklungsressourcen für unsere Produktentwicklung.”
fügt Julian Teicke hinzu.
wefox hat sein Unternehmen von 550 Mitarbeitern im Jahr 2020 auf heute mehr als 1300 Mitarbeiter ausgebaut. Für dieses Jahr sind weiterhin eine Vielzahl von Stellen an unterschiedlichen Standorten ausgeschrieben. Anfang Juni gab wefox die Berufung von s. D. Prinz Maximilian von und zu Liechtenstein und der ehemaligen Klarna-Geschäftsführerin Hanna Jacobsson in den Verwaltungsrat bekannt. Vergangenen Dezember berief wefox Young Sohn, den ehemaligen Präsidenten von Samsung Electronics zum Verwaltungsratspräsidenten.

Biherige Wefox Finanzierungs-Runden:

2022: Series D round $400M led by Mubadala.
2021: Series C round $650M led by Target Global.
2019: Series B round $235M led by Omers.
2017: Series A round of $30M led by Horizons Ventures.
2016: Seed round of $5.5M led by Salesforce Ventures.

]]></description><link>https://fintechnews.eu/wefox-400mio-usd-series-d-finanzierungs-runde</link><guid>2727</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Wefox: 400Mio USD Series-D Finanzierungs-Runde</dc:text></item><item><title>Binance Secures Virtual Asset Service Provider Registration in Spain</title><description><![CDATA[Binance’s subsidiary  Moon Tech Spain, S.L., has been granted registration as a Virtual Asset Services Provider(VASP) by the Bank of Spain. This registration will allow Binance to offer crypto asset exchange and custody services in Spain in compliance with the requirements of its central bank’s anti-money laundering and counter-terrorist financing (AML/CTF) rules. Moon Tech Spain was granted registration by the Bank of Spain on July 7, 2022, having applied for registration on January 28, 2022.
The Bank of Spain oversees and ensures compliance with AML and CTF rules for VASPs offering exchange services for euros or other currencies for crypto assets, as well as custody services for electronic wallets. The Bank of Spain also verifies compliance of the local entity and its directors with the commercial and professional honorability requirements.
This milestone follows European registrations for Binance’s local entities in France and Italy and further attests to the robustness of Binance’s AML and CTF controls.


Changpeng Zhao
Changpeng Zhao (CZ), founder and CEO of Binance, commented:
“Effective regulation is essential for the widespread adoption of cryptocurrencies. We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry. Moon Tech’s registration in Spain is an acknowledgement of the hard work and commitment of our teams to providing a platform that places user protection above all else.”
Quim Giralt
Quim Giralt, Director of Binance Spain, noted:
“Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the coming years we will be hiring local talent to serve the Spanish-speaking market and helping to grow the local crypto ecosystem.”



Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/binance-secures-virtual-asset-service-provider-registration-in-spain</link><guid>2724</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Binance Secures Virtual Asset Service Provider Registration in Spain</dc:text></item><item><title>Foreign Fintech Companies Flock to Peru</title><description><![CDATA[Peru’s fintech industry is expected to get a boost this year, driven by favorable regulatory developments and rising demand for more accessible and inclusive financial services.
Javier Salinas, director of Emprende UP, the center for entrepreneurship and innovation of the Universidad del Pacifico in Lima, Peru, expects the sector to grow from 171 fintech companies, as of September 2021, to more than 200 this year.
Peru’s fintech companies segment distribution, Source: EY, Oct 2021
A third of these companies will be coming from overseas, significantly exceeding the 10% share they held a year ago, Salinas shared with local newspaper Gestion earlier this year, an influx which will be fueled by attractive market conditions and positive developments, including recent crowdfunding rules, law amendments in the banking and finance sector, as well as early discussions on open banking and open finance.


Evidence of Salinas’ predictions can already be observed in Peru, with several foreign fintech companies establishing a presence in the country this year. Colombian stock trading app Trii recently launched in Peru, citing the country’s low stock trading penetration as an opportunity to establish a dominant position. Trii aims to amass at least 30,000 users in Peru by the end of this year.
Similarly, Uruguayan fintech company Prex began operations in Peru last year where it is targeting the country’s large population of unbanked. So far, growth in Peru has been strong, Gestion reported in June 2022, with more than 100,000 people joining the platform in the span of a year. Plex provides a bi-currency account, physical and virtual prepaid Mastercards, money transfer capabilities, foreign exchange, instant personal loan product, and cryptocurrency investment functionalities. The company aims to have at least 350,000 next year, and plans to expand to Chile and Paraguay next.
London-headquartered SumUp is another fintech company that recently entered the Peruvian market. The company, which offers payment solutions, business accounts, cards, invoicing, and more to merchants, launched in Peru in June. Shortly after, it closed a massive US$624 million funding round to fuel its expansion plans.
New fintech developments in Peru
Recent positive developments in Peru have created a bullish sentiment towards the market among fintech companies, entrepreneurs and other stakeholders.
In March 2022, the Peruvian Ministry of Economy and Finance (MEF) amended a number of laws to promote greater competition within the financial services industry.
These amendments, which include the reduction of the capital requirements for money transmitters, the simplification of the licensing and supervision process for companies that do not collect deposits from the public, and regulatory easing for full-digital entities, will enable the entry of new entities and allow for the expansion of alternative offers, says international legal and tax firm Garrigues.
These regulatory changes came on the back of the entry into force of Peru’s regulatory sandbox, the law firm notes, a framework designed to allow market participants to develop and run pilot tests of innovative financial products and services in a safe and controlled environment.
At the Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS), the governmental agency responsible for the supervision of the Peruvian financial and insurance systems, as well as the private pension fund system, talks about open banking and open finance have begun, an official has said.
In the traditional banking sector, things are moving at a fast pace as well. Government-owned lender Banco de la Nacion debuted Cuenta DNI last year, a commission-free, fully digital banking offering. So far, nearly two million people have opened an account, Iupana, a LatAm fintech information platform, reported in June. The bank hopes to open another 10 million accounts this year. Peru has an adult population of 24 million.
Grupo Credicorp, the largest financial services holding company in the country, is working to turn its e-wallet app Yape into a superapp, introducing in April a new credit product. Launched in 2016, Yape has grown into one of the most popular apps in the country, serving 8.7 million users as of March 2022.
Fintech adoption has increased significantly in Peru over the past few years. At the end of 2019, mobile banking accounted for 40.9% of all transactions in the financial system, up from 6.5% in 2017, Sergio Urday, the economic research chief of Peru’s banking association Asbanc, was reported as saying.
This article first appeared on fintechnews.am

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/foreign-fintech-companies-flock-to-peru</link><guid>2725</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Radar-Fintech-Peru-Segment-distribution-Source-EY-Oct-2021.png?x30842</dc:content ><dc:text>Foreign Fintech Companies Flock to Peru</dc:text></item><item><title>Revolut Taps Stripe to Support Payments in the UK and Europe</title><description><![CDATA[Stripe, a financial infrastructure platform for businesses, announced that Revolut will use Stripe to support payments in the UK and Europe and accelerate its expansion into new markets.
After launching in the UK with money transfer and exchange services, Revolut now offers dozens of products—from accounts and insurance, to trading and invoicing—that improve money management for 18 million customers and 500,000 businesses in more than 200 countries and territories.
Revolut said that it will soon launch in Mexico and Brazil.


The company will leverage Stripe’s infrastructure and international footprint to enter these and other new markets more efficiently, and offer its customers a seamless payment experience that matches their local payment preferences.
Stripe and Revolut will also explore opportunities to deepen their collaboration and deliver innovative new payments products.
David Tirado
“Revolut builds seamless solutions for its customers. That means access to quick and easy payments and our collaboration with Stripe facilitates that.

We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers,”
said David Tirado, Vice President of Business Development at Revolut.
“Revolut and Stripe share an ambition to upgrade financial services globally.

We’re thrilled to be powering Revolut as it builds, scales, and helps people around the world get more from their money,”
said Eileen O’Mara, EMEA’s Revenue and Growth Lead at Stripe.


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/revolut-taps-stripe-to-support-payments-in-the-uk-and-europe</link><guid>2723</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Revolut Taps Stripe to Support Payments in the UK and Europe</dc:text></item><item><title>Europe’s Next 10 Fintech Unicorns</title><description><![CDATA[Sifted has released its ranking of this year’s top 100 fastest-growing business-to-business (B2B) soonicorns poised to join the ranks of Europe’s US$1 billion-plus startups.
Among this year’s ranking, 37 are B2B fintech companies, making the category the second most represented segment. These companies include providers offering short-term loans for businesses, open banking platforms, and corporate expense management solutions.
According to the ranking, the 10 European B2B fintech companies most likely to reach unicorn status in the near future are:


Primer (UK)

Primer is a no-code automation platform for payments and commerce, enabling companies to unify their entire payment and commerce stack and build seamless, sophisticated and end-to-end payment flows.
The company provides a drag-and-drop framework that lets merchants easily sell online, allowing for the integration of some 45 payment solutions including Stripe, Apple Pay, Adyen and Braintree.
Launched in 2020, Primer operates in over 30 countries, serving merchants across Asia-Pacific (APAC), Europe and the US. The startup has raised US$74 million in funding, and is valued at US$425 million.
Yapily (UK)

Yapily offers a single, unified open banking API that allows businesses to connect to thousands of banks across Europe, access financial data and initiate payments. The company provides open banking solutions for industry leaders including American Express, Intuit Quickbooks, Moneyfarm, Volt, Vivid and BUX.
Yapily is currently pursuing an aggressive expansion plan, expanding recently into the Baltics and Poland, with Portugal being next. Earlier this year, the startup unveiled plans to acquire German rival finAPI, strengthening its presence in one of Europe’s largest markets.
Yapily has raised US$69 million in funding and has an estimated valuation of US$255 million, according to Sifted.
Sylvera (UK)

Sylvera is a carbon intelligence platform that helps corporate sustainability leaders, carbon traders and governments evaluate and invest in high quality carbon credits.
The company leverages proprietary data and machine learning (ML) technology to produce the most comprehensive and accessible insights on carbon projects, and delivers independent, in-depth and up-to-date project reports and market intelligence through its online platform and API.
Sylvera also partners with leading researchers at UCLA, NASA’s Jet Propulsion Lab, and University College London, and has raised US$39.5 million in funding. The startup has an estimated valuation of US$163 million, according to Sifted.
Codat (UK)

London-headquartered Codat provides a universal API for small business data. The company provides real-time connectivity to enable software providers and financial institutions to build integrated products for their business customers. Use cases include automatic reconciliation, business dashboarding, and loan decisioning.
Codat claims over 200 clients, including many of the world’s largest banks as well as rapidly growing fintechs such as Brex, Jeeves, Pipe and Clover.
Founded in 2017, Codat has raised over US$160 million in funding and is valued at US$825 million, Codat co-founder and CEO Pete Lord said in an interview last month.
Billie (Germany)

Billie offers buy now, pay later (BNPL) payment methods for B2B companies, providing solutions from liquidity to automation to digital payments for companies large and small, whether online stores or small and medium-sized enterprises (SMEs).
Billie uses proprietary, machine-learning-supported risk models, fully digitized processes and a highly scalable tech platform to provide fast liquidity, automated workflows and access to modern payment solutions.
Founded in 2016 in Berlin, Billie has raised about US$150 million in funding and is valued at US$640 million, Matthias Knecht, co-founder and co-CEO of Billie, told Verdict in November 2021.
Moss (Germany)

Moss is a technology-enabled expense and financial management solution. With smart corporate credit cards, digital invoice management, and automated accounting, Moss allows companies to manage all of their spending easily and transparently.
The solution enables flexible issuing of virtual and physical credit cards, digital entry and approval of invoices, smooth processing and reimbursement of employee expenses, and reliable liquidity management.
Since its inception in 2019, Moss has issued more than 20,000 physical and virtual credit cards and processed over 250,000 transactions.
Moss has raised US$149 million in funding, and is valued at US$573 million.
Sunday (France)

Sunday is a restaurant payment solution that aims to simplify the payment process for restaurant customers by enabling them to pay the bill in under 10 seconds using QR codes. The solution also allows customers to browse a restaurant’s menu, check their bills, leave tips and split their bills. Customer can pay using Apple Pay, Google Pay, American Express, Visa and Mastercard.
Since its launch, Sunday claims it has amassed more than 2 million users and over 5,000 restaurants signed globally representing an annual transaction volume of US$7 billion.
Sunday has raised US$124 million in funding, and is valued at an estimated US$500 million, according to Sifted.
Kevin. (Lithuania)

Founded in 2018 and headquartered in Vilnius, Kevin. is a fintech company that provides an account-to-account payment infrastructure to replace costly card transactions. The startup claims it has the broadest PSD2 bank API coverage in the European Economic Area (EEA).
Recently, Kevin. stepped into point-of-sale (POS) terminal payments in physical stores by introducing a NFC account-to-account payments solutions with a seamless user experience that is comparable to a card payment experience. The company claims more than 6,000 merchants in 12 markets in Europe.
Kevin. has raised US$77 million in funding, and has an estimated valuation of US$325 million, according to Sifted.
Yokoy (Switzerland)

Founded in 2019 and headquartered in Zurich, Yokoy is a spend management platform that combines expense management, supplier invoice management, as well as smart corporate cards and automates respective processes with the help of artificial intelligence (AI).
The solution integrates with 50+ corporate tools and the company claims more than 500 enterprise customers, including Bitpanda, On, and ASK Chemicals.
Yokoy has raised US$107 million in funding, and is valued at about US$500 million, a person familiar with the matter told CNBC in March 2022. The startup closed a US$80 million Series B funding round earlier this year which it said it will use to pursue expansion in Europe.
Taxdoo (Germany)

Founded in 2016 and headquartered in Hamburg, Taxdoo builds API-based tools to help e-commerce companies with tax compliance and other accounting needs.
Among other features, Taxdoo handles the VAT processes in European Union (EU) countries and the UK automatically and securely. Through the automated collecting, monitoring and evaluation of the transaction data, the system recognizes the respective VAT liabilities in Europe and prepares them clearly.
Taxdoo has raised US$84 million in funding and is valued at about US$350 million, according to Techcrunch. The company closed a US$64 million Series B funding round in December 2021 which it said it will use to expand further across Europe and add new features and capabilities.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/europes-next-10-fintech-unicorns</link><guid>2722</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Europe’s Next 10 Fintech Unicorns</dc:text></item><item><title>HSLU-Studie: Institutionelle Anleger investieren vermehrt in Hypotheken</title><description><![CDATA[Anlagen in Immobilien und Hypotheken haben im Tiefzinsumfeld der letzten Jahre bei institutionellen Anlegern stark an Attraktivität gewonnen. Investitionen in Hypotheken stellen allerdings für viele Investoren Neuland dar, wie eine Studie der Hochschule Luzern zeigt, die im Auftrag von UBS durchgeführt wurde. Trotzdem belegen die Resultate: Bei allen Anlegertypen sind Hypotheken ein Thema.
Bei Pensionskassen und Sammelstiftungen beträgt die Allokation in Hypothekenanlagen zwischen ein und drei Prozent.
John Davidson
«Interessant ist, dass grössere Pensionskassen mit einem verwalteten Vermögen von mindestens 500 Millionen Franken mit drei Prozent anteilsmässig deutlich häufiger Hypothekenanlagen tätigen als kleinere Anleger mit rund einem Prozent»,
sagt John Davidson, Co-Studienleiter und Dozent an der Hochschule Luzern. Noch deutlicher ist die unterschiedliche Vorgehenswiese bei der Art der Hypothekaranlagen: Grössere Pensionskassen vergeben den grössten Teil der Hypotheken direkt (84 Prozent), während kleinere Unternehmen 97 Prozent der Anlagen indirekt, d. h. via Vehikel wie AST oder Fonds tätigen.


Während die kleinen Pensionskassen ihre Hypotheken in den meisten Fällen (97 Prozent) indirekt über Fonds etc. vergeben, tun dies grössere institutionelle Anleger häufig direkt, nur 16 Prozent der Hypothekaranlagen werden von ihnen indirekt vergeben (Abbildung 1: Aufteilung der direkten und indirekten Hypothekaranlagen bei Pensionskassen; zum Vergrössern klicken).
«Diese Unterschiede dürften stark mit den verfügbaren Ressourcen und Kapazitäten der Pensionskassen zusammenhängen»,
so Davidson. Institutionelle Anleger wollen in Zukunft vor allem den Anteil der Investitionen in Infrastruktur und direkten Immobilien sowie Hypotheken erhöhen, während der Anteil an Obligationen gesenkt werden soll.
Anleger verzichten für Nachhaltigkeit auf Rendite
Wie wichtig Nachhaltigkeitsaspekte für institutionelle Anleger sind, wird in der Bereitschaft, auf Rendite zu verzichten, deutlich: 48 Prozent der institutionellen Anleger sind bereit, bei Immobilieninvestitionen kurzfristig zugunsten von Nachhaltigkeit zu verzichten – 28 Prozent sind sogar bereit, mittelfristig eine tiefere Rendite zu realisieren (Abbildung 2).
Bei Immobilien sind institutionelle Anleger am ehesten bereit, zugunsten der Nachhaltigkeit auf Rendite zu verzichten. Rund die Hälfte der befragten Anleger zeigt diese Bereitschaft bei einem kurzfristigen Zeithorizont. Bei mittelfristigen Immobilienanlagen sind noch 28 Prozent dazu bereit (Abbildung 2: Anteil der institutionellen Anleger, die bereit sind zugunsten von Nachhaltigkeit auf Rendite zu verzichten).
Insbesondere Anlagestiftungen und Fondsanbieter sind mit 64 Prozent bzw. 71 Prozent bereit, kurzfristig auf Rendite zu verzichten. Deutlich tiefer ist die Bereitschaft bei Pensionskassen mit 35 Prozent in der kurzen und 17 Prozent in der mittleren Frist. Insgesamt etwas weniger hoch ist die Bereitschaft zum Renditeverzicht bei Hypotheken, wo 29 Prozent der Anleger kurzfristig bereit sind, auf Rendite zu verzichten und 17 Prozent können sich vorstellen, mittelfristig Abstiche zu machen.
«Während insbesondere Fondsanbieter und Anlagestiftungen Vorreiter beim Thema Nachhaltigkeit sind, scheint das Thema bei den Pensionskassen noch weniger stark umgesetzt zu sein»,
sagt Daniel Steffen von der HSLU, der die Studie zusammen mit John Davidson und Stephan Kloess geleitet hat.
Fokus auf CO2-Emmissionen
Der Fokus bei der Nachhaltigkeit wird dabei von Anlegern vor allem auf ökologische Aspekte gelegt. Das wichtigste Thema sind klar CO2-Emissionen (für rund 90 Prozent der Anleger ein wichtiges Thema beim Reporting) gefolgt von Gebäudezertifikaten (64 Prozent, z. B. Minergie) und Energiesparmassnahmen (54 Prozent). Das bestätigt auch Sabine Magri, COO UBS Schweiz:
«Das Immobilien- und Hypothekengeschäft ist ein wichtiger Pfeiler für die Reduktion von CO2-Emissionen. Dies sowohl bei Eigenheimen als auch bei Renditeliegenschaften, wo mittel- und auch langfristig investiert werden muss, um mit innovativen Finanzierungslösungen und nachhaltigen Immobilien-Services den Wandel aktiv zu fördern.»
Weniger wichtig sind Governance-Themen wie Corporate Social Responsibility oder Use of Benchmark (jeweils rund 45 Prozent) sowie – deutlich abgeschlagen – Themen der sozialen Nachhaltigkeit wie soziale Durchmischung (30 Prozent) oder bezahlbare Mieten (28 Prozent). Das «E» des ESG ist damit der dominante Faktor.
«Bei den anderen Aspekten der Nachhaltigkeit gibt es durchaus Nachholbedarf»,
so Co-Studienautor Stephan Kloess. Die Teilnehmer sehen dabei zur Messung der Nachhaltigkeit gemeinsame und vergleichbare Standards als zentral an und bevorzugen es, wenn diese von neutralen Anbietern kommen (70 bis 80 Prozent Zustimmung) anstatt von privaten (24 bis 50 Prozent Zustimmung).

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/hslu-studie-institutionelle-anleger-investieren-vermehrt-in-hypotheken</link><guid>2721</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>HSLU-Studie: Institutionelle Anleger investieren vermehrt in Hypotheken</dc:text></item><item><title>&gt;&gt;Venture&gt;&gt; Crowns Swiss Fintech Veritic as Its Most Innovative Early-Stage Startup</title><description><![CDATA[Switzerland’s startup competition &gt;&gt;venture&gt;&gt;announced that the Zug-based Veritic was crowned the most innovative early-stage startup in the Finance &amp; Insurance vertical.
&gt;&gt;venture&gt;&gt; celebrated 25 years of fostering Swiss innovation and entrepreneurship on Tuesday evening at ETH Zurich.
The anniversary celebration was highlighted by the 2022 Award Ceremony where &gt;&gt;venture&gt;&gt; doled out over CHF 500,000 in non-dilutive cash to the country’s most promising early-stage startups.
The competition ranked and celebrated the 15 winning startups across 5 different industry verticals after having received a total of 358 business submissions.
The 15 winners were chosen by the C-suite executives that make up the &gt;&gt;venture&gt;&gt; advisory board.
The annual competition will open again for submissions starting October 1, 2022, for their 2023 edition.
First Place Winner: Veritic 
Stephan Holzer and Nicolaj Forderer, Co-founders of Veritic
Veritic develops user-friendly, multi-chain NFT platforms in collaboration with leading institutions, and is based on a highly secure minting and custody infrastructure.
According to Veritic, they work closely with blockchains to enable high-security solutions and push the boundaries of NFT technology.
To achieve their vision of NFTs as part of everybody’s online experience, their work focuses on three key pillars; highly secure institutional-grade minting and custody of NFTs, secure end-to-end compliance process, and new user-friendly NFT platforms.
As the 1st place winner, Veritic was awarded CHF 50,000 and a McKinsey &amp; Company business consulting package to help jumpstart their entrepreneurial journey.
Second Place Winner: Correntics

Correntics was ranked second-place in the competition. The Zurich-based startup helps companies future-proof their supply chains through its specialised software that helps reduce the financial risks from climate extremes and emerging risks in global value chains.
Third Place Winner: Kaspar&amp;

The St. Gallen-based Kaspar&amp; ranked third with its customer facing all-in-one app that includes a Swiss bank account, and an automatic transaction-based round-up mechanism which invests the resulting micro-payments in professionally managed investment strategies.
Check out Veritic’s short video intro here:



]]></description><link>https://fintechnews.eu/venture-crowns-swiss-fintech-veritic-as-its-most-innovative-early-stage-startup</link><guid>2720</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/imgpsh_fullsize_anim-3.png?x30842</dc:content ><dc:text>&gt;&gt;Venture&gt;&gt; Crowns Swiss Fintech Veritic as Its Most Innovative Early-Stage Startup</dc:text></item><item><title>Argentina Paves the Way for Open Banking</title><description><![CDATA[In Argentina, the central bank is paving the way for open banking, introducing new regulation and initiatives to encourage digital payments and enable interoperability.
New measures for regulating virtual wallets were adopted in May 2022 by the board of Banco Central de la República Argentina, the country’s central bank.
The rule mandates banks, fintechs, payment services providers and digital wallet administrators to provide their customers with the ability to link other accounts. This ultimately means that customers will be able to carry out payments and transfers through one particular digital wallet but using funds deposited in another account.


Banks will also be required to provide account information to payment services providers to facilitate this function. Industry participants have until September 30, 2022 to comply and incorporate the necessary capabilities, the central bank says.
The new regulation is one step further in developing interoperability and open banking in Argentina, and follows on initiatives like Transferencias 3.0 (Transfers 3.0).
Launched in November 2021, the Transfers 3.0 is a real-time digital payment scheme that uses QR codes. The system allows users to make payments through transfers from any bank or payment account. It aims to enable interoperability between service providers by providing a standardized payment platform, and seeks to help boost digital payments.
So far, adoption of Transfers 3.0 has been strong, with more than 2 million transactions worth a total of ARS 3.5 billion (US$28 million) recorded in the first two months of operation, data from the central bank show.
Transfers 3.0 transactions as of January 2022, Source: Banco Central de la República Argentina
These developments come on the back of rising adoption of fintech solutions in Argentina and a booming digital finance landscape.
According to Ignacio Plaza, president of Cámara Argentina de Fintech (Argentine Chamber of Fintech), there are now over 30 million virtual accounts in the country, representing more than half of Argentina’s population. About half of the money transacted domestically involve virtual accounts, Plaza told local newspaper Ámbito Financiero in an interview on June 30, 2022.
Digital investment is another fast-growing fintech segment, he said, noting that there are now six million investment accounts, or 14 times more than three years ago.
Reflective of the sector’s growth, the industry has been actively recruiting new talents, employing an estimated 15,000 as of May 2021, data from Cámara Argentina de Fintech show. A report by local newspaper La Nación claims that the number rose to over 19,000 by the end of 2021, and according to Plaza, it’s now surpassed 22,000.
Compared to previous years, Plaza expects fintech companies to slow down hiring this year amid funding cuts and the ongoing economic downturn. There should also be signs of consolidation in the market, with a number of mergers and acquisitions (M&amp;A) deals to take place.
In March, American online personal finance company and online bank SoFi Technologies announced the completion of its acquisition of Argentine digital banking software vendor Technisys. Technisys, which provides a cloud-native, digital multi-product core banking platform, serves more than 60 established bank, fintech and non-financial brands in Latin America and the US.
Meanwhile, Argentine fintech unicorn Ualá has been on an acquisition spree since at least 2021, snatching up Mexican bank ABC Capital – a deal that has yet to be approved by regulators –, Argentine e-commerce platform Empretienda, and, most recently, digital banking rival Wilobank.
2021 was a fructuous year for fintech companies around the world. These enjoyed record levels of funding, raising a total of US$132 billion – or double what was raised in 2020, data from CB Insights show. In Latin America (LatAm), fintech funding reached an all-time high of US$13 billion, up 269% year-on-year (YoY).
Soaring funding activity pushed valuations further up, allowing Argentina to witness the minting of its first tech unicorn. Ualá, a personal finance management app, reached a US$2.45 billion valuation after raising a massive US$350 million Series D led by SoftBank Latin America Fund and affiliates of China-based Tencent.
Founded in 2017, Ualá is the developer of a digital banking app intended to democratize access to financial services. The app is linked to an international Mastercard, and users can carry out a wide variety of transactions including transfers, bill payments, mobile phone top-ups, and more. Ualá also allows users to keep track of their expenses and personal finances. The company started venturing into the investment space in late-2021, allowing customers to purchase US dollars through a parallel rate known locally as “Dolar MEP.”
Ualá operates in Argentina and Mexico, and launched earlier this year in Colombia. The company is said to be serving more than five million clients across LatAm.
This article first appeared on fintechnews.am

]]></description><link>https://fintechnews.eu/argentina-paves-the-way-for-open-banking</link><guid>2719</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Argentina Paves the Way for Open Banking</dc:text></item><item><title>McKinsey Report: Metaverse to Generate up to US$5 Trillion in Impact by 2030</title><description><![CDATA[By 2030, the metaverse could generate up to US$5 trillion in impact, a sizeable opportunity that will be brought about rapid adoption of immersive virtual environments by consumers, rising openness to digital assets and new technologies, and heavy investments from the private sector.
This is according to an extensive report by McKinsey, which looks at the state of the sector, shares predictions for what’s to come, and unveils findings of a survey of 3,000 global consumers and 450 senior executives to understand both end-users and industry participants’ views on the topic.
According to the report, the metaverse holds implications for all sectors, but e-commerce will likely be the most impacted one. By 2030, McKinsey estimates that the metaverse could generate between US$2 trillion and US$2.6 trillion across e-commerce use cases, figures that drastic dwarf sectors such as academic virtual learning (an estimated US$180 billion-US$270 billion impact by 2030), advertising (US$144 billion-US$206 billion impact), and gaming (US$108 billion-US$125 billion impact).


Metaverse impact potential by 2030, $ trillion, Source: McKinsey analysis, 2022
For retailers, one of the biggest opportunities lies in the ability to remove the need to open up stores in every city, relying instead on a single store available in the metaverse for customer globally.
This opportunity is being explored by a number of companies: Samsung opened in January a store in blockchain-powered virtual world Decentraland; Nike introduced its virtual space in online gaming platform Roblox in November 2021, allowing customers to participate in various games and dress up their avatars with Nike products; and retailers including Ralph Lauren, Urban Outfitters, Walmart, Nike, Gap and Abercrombie &amp; Fitch have all filed trademarks related to virtual world stores, virtual goods and non-fungible tokens (NFTs).
Retailers can also use the metaverse for advertising, brand activation, and recruiting purposes, McKinsey says. Mexican food brand Chipotle, for example, ran a Halloween campaign on Roblox last year, offering a voucher for a real-life burrito to any visitor of its virtual restaurant wearing a costume. In France, retail and wholesaling corporation Carrefour launched in May 2022 a metaverse-based recruitment effort to fill data-related job openings.
Finance in the metaverse
Like other industries, companies in the financial sector have too started to explore opportunities in the metaverse. So far, efforts have been focused on Web 2.0 initiatives that make use of centralized platforms built in-house, McKinsey says, but a lot of opportunities remain untapped in the open Web 3.0-enabled metaverse.
Bank of America, for example, introduced in October 2021 a virtual reality (VR) training program for employees; South Korea’s KB Kookmin Bank launched last year a virtual environment called the KB Metaverse VR Branch Testbed which it used to engage with customers and train employees; similarly, Nonghyup Bank and NH Investment &amp; Securities, have too been developing their own metaverse platforms.
Others have gone a step further, establishing a presence on open, decentralized metaverse environments and introducing products destined to be consumed in these virtual spaces. HSBC, Standard Chartered and JP Morgan have all purchased virtual land in Ethereum-based metaverse platform The Sandbox; and Zelf, an American neobanking company, launched last year a new functionality that allows gamers to trade in-game virtual assets on popular gaming messaging platform Discord.
Excitement among consumers and businesses
McKinsey’s bullish predictions and estimates for the metaverse were drawn from a global survey of more than 3,400 consumers and executives which found a high level enthusiasm among both end-users and businesses for the prospects of virtual environments.
Consumers showed eagerness in spending more time in the metaverse, with almost 60% of respondents indicating a preference for at least one activity in the virtual world compared to the physical alternative.
Shopping (79%), social gatherings and events (78%), fitness (76%), dating (73%) and education (72%) were named as the top five activities most preferred in an immersive virtual environment.
Preference for at least one activity in virtual world compared to physical alternative, % of respondents, Source: Intelli Metaverse Consumer Survey in Europe, the Middle East, and Asia (EMEA) and Asia–Pacific (APAC) (April 2022)
The executives survey also found a high level of excitement among the business community. 95% of business leaders expect the metaverse to have a positive impact on their industry within five to ten years, and 65% believe metaverse technology could drive more than 5% of their organization’s total revenue in five years.
Investment into the metaverse space has soared over the past years. In the first five months of 2022, corporations, venture capitalists, and private equity firms injected more than US$100 billion into the space, more than double the US$57 billion invested in all of 2021.
Value of metaverse-related investments, $ billions, Source: McKinsey analysis of Crunchbase data, 2022

Featured image credit: Pixabay
]]></description><link>https://fintechnews.eu/mckinsey-report-metaverse-to-generate-up-to-us5-trillion-in-impact-by-2030</link><guid>2718</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>McKinsey Report: Metaverse to Generate up to US$5 Trillion in Impact by 2030</dc:text></item><item><title>SIX Digital Exchange’s Web3 Unit Partners With Fireblocks</title><description><![CDATA[SIX Digital Exchange’s Web3 dedicated unit, SDX Web3 Services, announces a strategic collaboration with Fireblocks, the digital asset and crypto technology platform.
SDX Web3 Services is already working on integrating SDX non-custodial staking access into Fireblocks’ solution.
Initially, this partnership will focus on delivering an institutional custody solution for digital assets, paving the way for a seamless transition for financial institutions into the Web3 economy.


SDX Web3 Services will integrate Fireblocks’ MPC-based solution, designed to support institutions with a multi-layer security platform to safely store and transfer digital assets without jeopardising operational efficiency, into its system.
Starting with key cryptocurrencies and expanding into other classes of tokens, these services will include key storage, transaction execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
Fireblocks’ network of 1,300 members, proven technology approach and battle-tested security systems will differentiate SDX Web3 Services’ client offerings apart from its competitors.
The platform integration will consist of the highest institutional-grade standards and remains in line with SIX Group’s standards in the market.
This offering is intended for Swiss and European institutional clients such as banks, corporates, and other financial institutions. The go-live is planned for H2 2022.
David Newns
“SDX is supporting institutional adoption through the launch of the SDX Exchange and CSD in October last year, and with the launch of SDX Web3 Services last month. SDX Web3 Services is committed to delivering a suite of future-proof solutions for institutional players as they embrace Web3.

We are excited to embark on this journey together with Fireblocks, the leading digital asset custody, transfer and settlement platform, to build an institutional-grade secure digital asset custody service for our clients,”
said David Newns, Head of SDX.

Michael Shaulov
“We are delighted to partner with the SIX Digital Exchange and SDX Web3 Services teams to provide their institutional investors and regulated intermediaries with the industry’s most advanced and secure institutional-grade platform.

With our technology, SDX’s customers are able to experience a seamless access into Web3, which further supports our goal of global Web3 adoption,”
said Michael Shaulov, Co-founder and CEO of Fireblocks.
]]></description><link>https://fintechnews.eu/six-digital-exchanges-web3-unit-partners-with-fireblocks</link><guid>2716</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>SIX Digital Exchange’s Web3 Unit Partners With Fireblocks</dc:text></item><item><title>What You Need to Know About EU’s Crypto Framework</title><description><![CDATA[The European Union (EU) brings crypto-assets, crypto-asset issuers and crypto-asset service providers under a regulatory framework for the first time.
The Council presidency and the European Parliament reached a provisional agreement on the markets in crypto-assets (MiCA) proposal which covers issuers of unbacked crypto-assets, and so-called “stablecoins”, as well as the trading venues and the wallets where crypto-assets are held.
This regulatory framework will protect investors and preserve financial stability, while allowing innovation and fostering the attractiveness of the crypto-asset sector.


This will bring more clarity in the European Union, as some member states already have national legislation for crypto-assets, but so far there had been no specific regulatory framework at EU level.
Bruno Le Maire
“Recent developments on this quickly evolving sector have confirmed the urgent need for an EU-wide regulation. MiCA will better protect Europeans who have invested in these assets, and prevent the misuse of crypto-assets, while being innovation-friendly to maintain the EU’s attractiveness.

This landmark regulation will put an end to the crypto wild west and confirms the EU’s role as a standard-setter for digital topics,”
said Bruno Le Maire, French Minister for the Economy, Finance and Industrial and Digital Sovereignty.
Regulating the risks related to crypto-assets
MiCA will protect consumers against some of the risks associated with the investment in crypto-assets, and help them avoid fraudulent schemes.
Currently, consumers have very limited rights to protection or redress, especially if the transactions take place outside the EU.
With the new rules, crypto-asset service providers will have to respect strong requirements to protect consumers wallets and become liable in case they lose investors’ crypto-assets.
MiCA will also cover any type of market abuse related to any type of transaction or service, notably for market manipulation and insider dealing.
Actors in the crypto-assets market will be required to declare information on their environmental and climate footprint.
The European Securities and Markets Authority (ESMA) will develop draft regulatory technical standards on the content, methodologies and presentation of information related to principal adverse environmental and climate-related impact.
Within two years, the European Commission will have to provide a report on the environmental impact of crypto-assets and the introduction of mandatory minimum sustainability standards for consensus mechanisms, including the proof-of-work.
To avoid any overlaps with updated legislation on anti-money laundering (AML), which will now also cover crypto-assets, MiCA does not duplicate the anti-money laundering provisions as set out in the newly updated transfer of funds rules agreed on 29 June.
However, MiCA requires that the European Banking Authority (EBA) will be tasked with maintaining a public register of non-compliant crypto-asset service providers.
Crypto-asset service providers, whose parent company is located in countries listed on the EU list of third countries considered at high risk for anti-money laundering activities, as well as on the EU list of non-cooperative jurisdictions for tax purposes, will be required to implement enhanced checks in line with the EU AML framework.
Tougher requirements may also be applied to shareholders and to the management of the CASPs, notably with regard to their localisation.
A strong framework applicable to so-called “stablecoins” to protect consumers
Recent events on the so-called “stablecoins” markets showed once again the risks incurred by holders in the absence of regulation, as well as the impacts it has on other crypto-assets.
In fact, MiCA will protect consumers by requesting stablecoins issuers to build up a sufficiently liquid reserve, with a 1/1 ratio and partly in the form of deposits.
Every so-called “stablecoin” holder will be offered a claim at any time and free of charge by the issuer, and the rules governing the operation of the reserve will also provide for an adequate minimum liquidity.
Furthermore, all so-called “stablecoins” will be supervised by the European Banking Authority (EBA), with the presence of the issuer in the EU being a precondition for any issuance.
The development of asset-referenced tokens (ARTs) based on a non-European currency, as a widely used means of payment, will be constrained to preserve our monetary sovereignty.
Issuers of ARTs will need to have a registered office in the EU to ensure the proper supervision and monitoring of offers to the public of asset-referenced tokens.
This framework will provide the expected legal certainty and allow innovation to flourish in the European Union.
EU-wide rules for crypto-asset service providers and different crypto assets
Under the provisional agreement reached today, crypto-asset service providers (CASPs) will need an authorisation in order to operate within the EU.
National authorities will be required to issue authorisations within a timeframe of three months.
Regarding the largest CASPs, national authorities will transmit relevant information regularly to the European Securities and Markets Authority (ESMA).
Non-fungible tokens (NFTs), i. e. digital assets representing real objects like art, music and videos, will be excluded from the scope except if they fall under existing crypto-asset categories.
Within 18 months the European Commission will be tasked to prepare a comprehensive assessment and, if deemed necessary, a specific, proportionate and horizontal legislative proposal to create a regime for NFTs and address the emerging risks of such new market.
The provisional agreement is subject to approval by the Council and the European Parliament before going through the formal adoption procedure.

]]></description><link>https://fintechnews.eu/what-you-need-to-know-about-eus-crypto-framework</link><guid>2715</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>What You Need to Know About EU’s Crypto Framework</dc:text></item><item><title>Ueli Maurer Recognised as Fintech Influencer at the Swiss Fintech Awards 2022</title><description><![CDATA[The much-anticipated seventh edition of the Swiss Fintech Awards has announced the winners for the year 2022 on the evening of June 29 in Zurich.
This year’s awards had three categories; Fintech Influencer of the Year, Growth Stage Startup of the Year and Early Stage Startup of the Year.
The two startups that won the awards were each given a prize money of CHF 48,000.


The awards have been organised yearly since 2015 to promote regional development and to strengthen the Swiss fintech ecosystem.
It serves to recognise outstanding fintech, insurtech and blockchain startups as well as fintech influencers and are chosen by a renowned jury consisting of 20 fintech experts.
This year’s awards was attended by around 180 guests which included CEOs and leaders from traditional financial institutions, startups and numerous other key players in the Swiss fintech ecosystem.
The guest of honor this year was Urs Hölzle, a Swiss native who is currently the Senior Vice President of Technical Infrastructure at Google. He was Google’s eighth employee and has since been responsible for the tech company’s technical infrastructure.
Hölzle was on stage for a fireside chat where he offered plenty of inspiration for the young and established innovators in the room.
Partners who made the awards a success include Accenture, Credit Suisse, F10, Microsoft, Migros Bank, PostFinance, the Swiss Bankers Association, SICTIC, SIX, Sparkr, SWISS FINTECH, Swiss Fintech Innovations, UBS, VZ VermögensZentrum, VISA, as well as numerous other investors and independent experts.
Winners of the Swiss Fintech Awards 2022
Fintech Influencer of the Year Award

Federal Councillor Ueli Maurer received the “Fintech Influencer of the Year” award as he is a prominent figure who has been strongly committed to an innovative and well-positioned financial center in recent years.
The Swiss Fintech Awards recognise, among other things, the promotion of open dialogue among all relevant stakeholders and his efforts to strengthen the international positioning of the Swiss fintech and financial center, as well as the numerous initiatives such as the fintech sandbox and fintech licenses or the strategic forums for open finance.
All these efforts by Federal Councillor Ueli Maurer are central to a vibrant fintech scene in Switzerland.
Growth Stage Startup of the Year Award

Stableton Financial was the winner for the “Growth Stage Startup of the Year category.
The startup is a marketplace for alternative investments enabling private and professional investors to access alternative investments like for example companies that are not yet listed on the stock exchange.
Early Stage Startup of the Year Award

Meanwhile, DeepJudge received the award for the “Early Stage Startup of the Year” category.
DeepJudge’s technology has the potential to achieve considerable efficiency gains for financial institutions in the legal and compliance area by means of artificial intelligence.

]]></description><link>https://fintechnews.eu/ueli-maurer-recognised-as-fintech-influencer-at-the-swiss-fintech-awards-2022</link><guid>2713</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Ueli Maurer Recognised as Fintech Influencer at the Swiss Fintech Awards 2022</dc:text></item><item><title>Here Are the Winners of the Swiss Fintech Awards 2022</title><description><![CDATA[The much-anticipated seventh edition of the Swiss Fintech Awards has announced the winners for the year 2022 on the evening of June 29 in Zurich.
This year’s awards had three categories; Fintech Influencer of the Year, Growth Stage Startup of the Year and Early Stage Startup of the Year.
The two startups that won the awards were each given a prize money of CHF 48,000.


The awards have been organised yearly since 2015 to promote regional development and to strengthen the Swiss fintech ecosystem.
It serves to recognise outstanding fintech, insurtech and blockchain startups as well as fintech influencers and are chosen by a renowned jury consisting of 20 fintech experts.
This year’s awards was attended by around 180 guests which included CEOs and leaders from traditional financial institutions, startups and numerous other key players in the Swiss fintech ecosystem.
The guest of honor this year was Urs Hölzle, a Swiss native who is currently the Senior Vice President of Technical Infrastructure at Google. He was Google’s eighth employee and has since been responsible for the tech company’s technical infrastructure.
Hölzle was on stage for a fireside chat where he offered plenty of inspiration for the young and established innovators in the room.
Partners who made the awards a success include Accenture, Credit Suisse, F10, Microsoft, Migros Bank, PostFinance, the Swiss Bankers Association, SICTIC, SIX, Sparkr, SWISS FINTECH, Swiss Fintech Innovations, UBS, VZ VermögensZentrum, VISA, as well as numerous other investors and independent experts.
Winners of the Swiss Fintech Awards 2022
Fintech Influencer of the Year Award

Federal Councillor Ueli Maurer received the “Fintech Influencer of the Year” award as he is a prominent figure who has been strongly committed to an innovative and well-positioned financial center in recent years.
The Swiss Fintech Awards recognise, among other things, the promotion of open dialogue among all relevant stakeholders and his efforts to strengthen the international positioning of the Swiss fintech and financial center, as well as the numerous initiatives such as the fintech sandbox and fintech licenses or the strategic forums for open finance.
All these efforts by Federal Councillor Ueli Maurer are central to a vibrant fintech scene in Switzerland.
Growth Stage Startup of the Year Award

Stableton Financial was the winner for the “Growth Stage Startup of the Year category.
The startup is a marketplace for alternative investments enabling private and professional investors to access alternative investments like for example companies that are not yet listed on the stock exchange.
Early Stage Startup of the Year Award

Meanwhile, DeepJudge received the award for the “Early Stage Startup of the Year” category.
DeepJudge’s technology has the potential to achieve considerable efficiency gains for financial institutions in the legal and compliance area by means of artificial intelligence.

]]></description><link>https://fintechnews.eu/here-are-the-winners-of-the-swiss-fintech-awards-2022</link><guid>2714</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Here Are the Winners of the Swiss Fintech Awards 2022</dc:text></item><item><title>Crypto Companies Put the Brakes on Sports Sponsorship Amid Market Crash</title><description><![CDATA[This year’s cryptocurrency crash, which saw the market lose more than half of its value in the span of six months, is threatening to bring sports sponsorship deals to a halt as crypto companies look to cut costs.
Sources with direct knowledge told The New York Post last week that cryptocurrency exchange FTX recently backed out of talks to provide a jersey patch to the MLB’s Los Angeles Angels. Another patch deal between the NBA’s Washington Wizards and an undisclosed crypto company also recently fell through, the sources said.
Some companies are even facing lawsuits over missing payments. The UK’s Times reported in January 2022 that Iqoniq, a crypto-based fan platform, went into liquidation, owing Spanish football team Real Sociedad a reported EUR 820,000 for their primary shirt sponsorship. English football club Crystal Palace, meanwhile, is said to have begun legal action against the company over missed payments.


Since the beginning of the year, the crypto market plummeted by about 55%, plunging from a total market capitalization of US$2 trillion in January 2022 to now approximately US$900 billion. The market has entered what’s commonly referred to as a “crypto winter”, or a prolonged period of lower crypto prices.
This month, an array of crypto exchanges announced significant layoffs. Coinbase said it was terminating 18% of its workforce; Gemini announced it would part ways with approximately 10% of its workforce; Crypto.com said it was laying off 5% of its workforce; BlockFi announced that it was reducing its 850-strong workforce by 20%; and just last week, BitPanda, Austria’s first and online fintech unicorn, said that it would reduce its headcount from nearly 1,000 employees to 730.
2021’s sports sponsorship frenzy
2022’s spending plunge comes after crypto firms shelled out staggering amounts of cash for sports sponsorship deals last year in hopes to getting their brands in front of wider audiences and wooing sports fans.
In November 2021, Crypto.com signed a record 20-year, US$700 million deal for the naming rights to the Staples Center. The multi-purpose area, which hosts hundreds of annual marquee events and serves as the official home of the US’ National Basketball Association (NBA)’s Los Angeles Lakers and LA Clippers, the National Hockey League (NHL)’s LA Kings and the Women’s National Basketball Association (WNBA)’s Los Angeles Sparks, has been known as Crypto.com Arena since December 25, 2021.
The HK-headquartered crypto exchange, which boasts more than 10 million users, also has a year-five, US$100 million sponsorship agreement with Formula 1, a deal with the NHL’s Montreal Canadiens, and a multi-year partnership with the Paris Saint-Germain (PSG).
Despite recent staff cuts, Crypto.com appears to be continuing its sports sponsorship spree this year, unveiling a deal with Fifa for the World Cup Qatar 2022 in March and a five-year partnership with the Adelaide Football Club (AFC) in January.
Besides Crypto.com, FTX is another prolific crypto startup in the sports sponsorship space, having inked deals with the Miami Heat, Major League Baseball, the Golden State Warriors, the Washington Wizards, as well as Team SoloMid (TSM), a professional esports organization.
Other high-profile sports sponsorships include Coinbase’s US$192 million multiyear partnership with the NBA, OKX’s collaboration with McLaren Racing, and Tezos’ sponsorship deal with Manchester United.
Nielsen, an American information, data and market measurement firm, estimates that sports sponsorship deals from the crypto space grew at a much faster rate than other sponsorship categories, increasing by a staggering 1,100% between 2019 and 2021.
New sports sponsorship deals by brand category, Source: Nielsen Sports Sponsorglobe, 2022
Nielsen expects crypto companies to spend US$5 billion on sports marketing by 2026.
Projected sports sponsorship investment growth by brand category, Source: Nielsen Sports Sponsorglobe, 2022

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/crypto-companies-put-the-brakes-on-sports-sponsorship-amid-market-crash</link><guid>2711</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Crypto Companies Put the Brakes on Sports Sponsorship Amid Market Crash</dc:text></item><item><title>Top 29 Fintech Events To Attend in DACH in H2 2022</title><description><![CDATA[2021 was a blockbuster year for fintech funding globally. In Germany, Austria and Switzerland, also referred to as the DACH region, fintech funding increased four-fold to US$10.8 billion, data from research platform Fintech Global show.
To showcase the region’s burgeoning fintech sector, a plethora of large-scale conferences and events are scheduled to take place in the coming months, promising to bring together the global fintech community to discuss the latest developments, emerging trends, as well as opportunities and challenges brought about digitalization.
Below, you’ll find a curated list of the top 29 fintech gatherings to attend in H2 2022 across the DACH region.


&gt;&gt;venture&gt;&gt; Award Ceremony 2022
June 28, 2022, 18:00
ETH Zürich, Switzerland


On June 28, the 2022 Award Ceremony will celebrate the winning entrepreneurs of &gt;&gt;venture&gt;&gt; on the 25th anniversary of Switzerland’s leading startup competition.
During the event, the top three winning entrepreneurs in each industry verticals, which are Finance and Insurance, Health and Nutrition, ICT, Industrials and Engineering and Retail and Consumer Services, will be announced. In addition, &gt;&gt;venture&gt;&gt; will crown the 2022 competition’s grand prize winner who will be taking home the coveted prize of CHF 150,000.
In collaboration with our media partner RTS, we will announce the recipient of the &gt;&gt;venture&gt;&gt; Audience Award, who will bring home CHF 10,000.
Doors will open at 18:00. The Award Ceremony will start at 18:30.
Get your FREE ticket here: &gt;&gt;venture&gt;&gt; Award Ceremony 2022
Metaverse and NFT Get-Together – Hype or Future?
June 28, 2022, 18:00 – 23:30
Room D, Quarter 21 / Museum Quarter, Museumsplatz 1, Vienna, Austria


Entrepreneurs and creative people use metaverse and non-fungible tokens (NFTs) as a basis for sustainable business models.
During this event, experts from the Austrian Association for Distributed Ledger Technologies (DLT Austria), loob.io, Fachhochschule Technikum Wien, deZentrale.at, Austrian Post and other organizations, will present the metaverse as well as discuss NFT-centric business models and best practices for their implementation.
Topics will include the opportunities brought about the metaverse, NFT security, startup funding, charity fundraising, and the industries/projects best suited for metaverse and NFT-centric business models.
Germany Summit 2022
June 28 – 29, 2022
Plug and Play Germany GmbH, Balanstrasse 73 Haus 10, 1. Stock (First Floor), Munich, Germany


The Germany Summit 2022 in Munich will allow participants to immerge themselves in what the health, retail and fintech industries will look like in 2030 and leave with unique perspectives and inspiration.
With Startup Creasphere – the first health-focused innovation in Munich – transforming healthcare, trendsetting businesses sharing insights into the shifting future of retail, and demos from exceptional startups that are shaping the new era of fintech, untapped opportunities are just around the corner.
Three expos on these topics will be taking place, in addition to keynote speakers, pilot project showcases, panel discussions, insights from corporate speakers, trends and insights from various industries, and much more.
Swiss Fintech Awards Night 2022
June 29, 2022
Hotel Belvoir, Zurich

The annual Swiss Fintech Awards, organized by Finanz und Wirtschaft, aims to promote Swiss fintech, insurtech and blockchain innovators and to contribute to the strong Swiss fintech ecosystem.
Each year, a jury consisting of 20 fintech experts selects the most outstanding fintech, insurtech and blockchain startups as well as fintech influencers.
The winners in three categories, namely Early Stage Startup of the Year, Growth Stage Startup of the Year, and Fintech Influencer of the Year, will be awarded at the exclusive, invitation-only Swiss Fintech Awards Night 2022 on June 29, 2022, in Zurich, bringing together leading minds from the fintech community as well as inspiring special guests to celebrate the innovators and entrepreneurs of the Swiss finance ecosystem.
Register here: Swiss Fintech Awards Night 2022
Fintech 2022: Mastering the Transformation
June 29, 2022
Gottlieb Duttweiler Institute, Switzerland

Banks and insurance companies are in a multi-layered upheaval. In order to master the digital transformation with all its facets, banks, insurance companies, start-ups and the like must be successful on many fronts at the same time. Organizational culture, technological know-how and creative business models and strategies must interact symbiotically in order to master the transformation. The organizational culture must allow for more agile and collaborative approaches. From the back to the front office, technology must pave the way for the future. And last but not least, the financial players must have the courage to break new strategic ground with open finance, new business models and value chains.
Those who neglect the interfaces between these success factors risk losing customers and talent and being among the losers in the next chapter of the transformation. That’s why the leading FinTech conference of “Finanz und Wirtschaft” brings together pioneers, visionary practitioners and decision-makers from various fields.
According to the current status and decision of the Federal Council of February 16, 2022, the event will be held physically, without a mask and certificate. Registered participants will be informed continuously.
Register here: https://www.fuw-forum.ch/fintech-2022 
Startup Summit Bremen
July 01, 2022, 16:00 – 23:59
Alte Werft, Stephaniekirchenweide 19, Bremen, Germany


The Startup Summit Bremen is where the region’s startup, tech and innovation community meets. During this year’s event, participants will get to meet the makers of over 50 startups, scaleups, grownups, agile corporates and startup supporters from Bremen and Umzu, to share knowledge and network.
Key topics covered will include corporate innovation and potential for cooperation with startups, artificial intelligence (AI), robotics, startup funding, startup exits, and more. The event will feature the Award Ceremony of the Bremen Startup Award 2022, a pitch contest, as well as networking sessions.
Merchant Payments Ecosystem 2022
July 05 – 07, 2022
InterContinental Hotel, Berlin, Germany


The Merchant Payments Ecosystem (MPE), the largest merchant payments event in Europe, is returning from July 05 to 07, 2022, in Berlin, Germany. Participants will get to connect with leading merchants and brands, acquirers, payment services providers (PSPs), point-of-sale (POS) vendors, fintech startups, and more.
This year’s event is expected to bring together more than 1,200 attendees, including 300+ merchants, 300+ acquiring banks and PSPs from 40+ countries. Key themes covered will include open banking, regulation, digital currencies and cryptocurrencies, and the e-commerce boom.
The annual MPE event is widely regarded for its senior-level networking, best speaker line-up and agenda covering all aspects of payment acceptance, innovation and trends transforming merchant payments.
Register here: Merchant Payments Ecosystem
DigitalFuture Summit 2022
July 07 – 08, 2022
Hybrid, ESMT Berlin, Schloßplatz 1, Berlin, Germany


Organized by the European School of Management and Technology (ESMT Berlin), the DigitalFuture Summit (DFS) is an annual conference and networking event that offers highly qualified students and young professionals a chance to connect with business leaders to discuss the intersection of business and technology, and what it means for the future.
The summit aims to offer a learning experience by providing a space for exchanging ideas and information through panel discussions, keynotes and hands-on workshops.
Talents also have the chance to pitch their own ideas in front of an audience of successful investors, founders, and a group of almost 600 international students. Topics for startups participating in the DFS Pitch Competition are the DFS’s six pillars: mobility, technology, information, sustainability, health, and work. Winners receive a monetary prize and support from Vali Berlin, the entrepreneurship hub at ESMT Berlin.
This year’s event will take place in a hybrid format on July 7 and 8, 2022.
Finale German Startup Cup Fintech
July 11, 2022, 13:30 – 18:00
TechQuartier, Platz der Einheit 2, Frankfurt, Germany


On July 11, the Finale of the German Startup Cup Fintech will take place at TechQuartier in Frankfurt, presenting the four finalists – Comeco, CashOnLedger, Kudona and UnitedCrowd – and their innovations.
The startups will present the technologies of their companies in short pitches, after which they will be questioned by a jury of experts. After all the pitches, the jury and the spectators will vote on the best startups.
In addition to the finale, the event will feature two insightful panel discussions: one on banks’ imperative to innovate, focusing on topics such as IT, cloud computing and tech infrastructure, and the other, on emerging trends such as environmental, social and corporate governance (ESG) standards, cryptocurrency and quant computing.
Participants can expect the latest innovations in the fintech space as well as the opportunity to network with a specialist audience.
2nd International Conference on Payments and Settlement
July 14 – 15, 2022
Deutsche Bundesbank, Eltville, Germany

Economic analysis of payment and settlement systems has risen in importance as a topic for researchers and analysts in central banks, academia and not least with market participants around the world.
The contribution of safe and efficient payment and settlement systems as a backbone for the financial system has been widely acknowledged especially against the background of financial crises and the current pandemic.
Moreover, innovations such as distributed ledger technology (DLT)-driven forms of settlement as well as the entrance of new participants with non-financial but technological backgrounds has led to potential far-reaching impacts which need to be analyzed and understood properly.
The significance of (big) data within payment systems and its linkage to the real economy to gain competitive benefits has intensified.
Market developments such as the upcoming consolidation of TARGET2 and TARGET2-Securities clearly involve new scopes to empirically and scientifically accompany adjusted payment and settlement systems by applying advanced analytics.
On July 14 and 15, 2022, the Deutsche Bundesbank, Germany’s central bank, will host its second International Conference on Payments and Settlement in Eltville, Germany, exploring these precise trends and developments, and delving into their potential implications.
2022 Regulating Financial Markets
August 22 – 23, 2022
Frankfurt School of Finance &amp; Management, Frankfurt, Germany

The 2022 Conference on Regulating Financial Markets will take place from August 22 and 23, 2022 in Frankfurt, Germany at the Frankfurt School of Finance and Management.
The event will discuss topics including the use of big data and machine learning (ML) in financial regulation, the economics of climate change, the relevance of digitalization for financial markets and their regulation, the impact of regulation on competition among banks and shadow banks, and more.
The academic keynote speakers will be Itay Goldstein (Wharton School) and Manju Puri (Duke University).
Open Banking Summit 2022
25 Aug 2022
Google Cloud, Europaallee 36, Zurich

OpenBankingProject.ch and its members invite to the third edition of the Open Banking Summit.
This year, they are following the national and international developments relating to Open Banking and are offering you a trend-setting overview. To do this, they dare to think outside the box and show you a summary of relevant international initiatives and inspiring use cases. These first-hand insights will help you to keep track of global activities and maybe you can take important impulses for your company with you.
“Ask the Expert” At the panel, you also have the opportunity to ask the experts your questions and immerse yourself in further discussions over an aperitif riche and exchange ideas with other guests.
Register here: https://www.openbankingproject.ch
CBDC Conference
August 29 – 31, 2022
Frankfurt Marriott Hotel, Frankfurt, Germany

Just a few years ago, central bank digital currencies (CBDCs) were still attracting very little interest. Only a handful of central banks were even looking into it. If at all, discussions about CBDC were often held behind closed doors.
Then, however, a number of central banks began implementing pilot projects with the aim of better understanding the challenges associated with CBDC. Studies have also been published on this topic.
At the same time, technological innovations facilitated the advent of cryptocurrencies and, in the wake of Facebook’s announcement of plans to introduce Libra, CBDC was thrust into the spotlight almost overnight.
Organized by Lighthouse Communications, the CBDC Conference is the leading event in the field of CBDC, offering representatives of central banks, retail banks, technology providers, policy makers and academics a platform to learn about the latest developments in CBDC, exchange ideas with experts and peers, and advance the cause of CBDC.
The CBDC Conference is geared towards delegates who have a professional interest in CBDC, and will discuss topics such as the opportunities and challenges brought about CBDCs, central banks’ motivations in launching a CBDC, design and policy considerations when introducing a CBDC, and more. The event will also explore actual CBDC projects, including the Bahamas Digital Currency Sand Dollar and Project eNaira.
5th Annual GRASFI Conference
September 05 – 07, 2022
Zurich, Switzerland


The 5th Annual Conference is currently being planned by the Center for Sustainable Finance and Private Wealth (CSP) and the Center of Competence in Sustainable Finance (CCSF) at the University of Zurich.
Areas covered will include data and reporting and the use of technology including AI and big data; regulators, regulation and policy; stakeholders and market trends in the areas of banking, sustainable investments and investor preferences; and finance, society and the national environment.
Cryptomonnaie Messe Zurich HB
September 06 – 08, 2022
Zurich HB, Bahnhofplatz, Haupthalle 1600 M2, Zurich, Switzerland


From September 06 to 08, 2022, the Cryptomonnaie fair will take place in the heart of Zurich, bringing together participants from around the world, banks and fintechs to discuss some of the hottest trends in the cryptocurrency and broader fintech industry, including open banking, sustainable finance, NFTs and the metaverse.
The event will feature panel discussions, live podcasts, networking sessions, and more.
CryptX 22
September 08, 2022, 09:00 – 19:00
Alter Stahlbau, Fredenhagen, Sprendlinger Landstraße 193-195, Offenbach, Germany


The CryptX conference is coming back for its second edition on September 08, 2022, bringing together the blockchain and digital asset industry to talk and discuss emerging trends in the space.
The event will explore the implications and opportunities for the payment and banking industry and provide insights into current developments and concepts. The focus is not only on the experts and industry leaders shaping the industry, but above all the guests who will be given an opportunity to exchange ideas with their peers, experts and trendsetters from the industry.
Swiss Fintech Fair 2022
September 09, 2022
SIX ConventionPoint, Zurich, Switzerland

The annual Swiss Fintech Fair is one of the leading fintech trade shows in the country, bringing together C-level executives, investors, corporate innovation teams, and disruptors from across Europe to work together and build meaningful connections.
After two years of restrictions imposed by COVID-19, this year’s event will take place live in Zurich, and is expected to be attended by up to 1,000 people.
Register here: Swiss Fintech Fair
CV Summit 2022
September 14 – 15, 2022
Theater Casino Zug, 4 Artherstrasse, Zug, Switzerland


CV Summit is coming back on September 14 and 15, 2022 for two days of insightful panels, keynotes, networking, and more.
Designed to facilitate high-level discourse and showcase the Swiss blockchain ecosystem as one of the leading blockchain innovation and investment landscapes in the world, CV Summit will bring together investors, corporates, and high-profile individuals in one place in order to examine how the present and future applications of blockchain technology can help optimize and evolve businesses, revolutionize healthcare, modernize governmental institutions, support art and culture, and improve people’s daily lives as a whole.
Swiss Digital Finance Conference
September 21, 2022
Lucerne University of Applied Sciences and Arts, Rotkreuz, Switzerland


The Swiss Digital Finance Conference connects players from the Swiss financial sector, informs them about relevant technology trends and how they are changing the industry. The theme of this year’s conference is: “Decentralized Finance (DeFi) in Metaverse – A new Fintech Revolution?”.
Why go?

At the Swiss Digital Finance Conference, the classic world of finance meets its challengers from the digital age.
The conference gives the audience an overview of the latest technology trends and how they are affecting the financial sector.
Participants get to know the digital possibilities and tools of the next generation better and meet at eye level

What is it about?

Digital transformation of financial services
Fintech, specifically DeFi and Metaverse
Finding new business models and transforming existing ones

The conference is aimed at business and IT managers and executives, professionals from banks, wealth managers, investors and insurance companies, as well as technology, telecommunications and consulting companies, strategy managers, business developers, fintech companies and everyone who is interested in digital financial services.
Register here: https://blog.hslu.ch/sdfc/
23. Key Note Event
September 23, 2022

The 23rd Key Note Event will take place on September 22nd, 2022 and invites various lectures on the subject of digitization.
Further information on the speakers and the detailed content will follow.
More information here: https://www.bosshardpartner.ch/en/current-events/details-events/23-key-note-event-upcoming-event
5th Annual World Digital Banking Summit
September 29 – 30, 2022
Titanic Gendarmenmarkt Berlin, Berlin, Germany


The fifth edition of the Annual World Digital Banking Summit will take place on September 29 and 30, 2022 as a hybrid event in Berlin, bringing together banking, financial services and fintech professionals to discuss how integrated solutions are shaping the future of digital banking. Leading professionals from global brands will be in attendance to share their experiences and discuss trending topics such as AI, ML, deep learning, cognitive computing, NLP, digital assets and much more.
This year’s event will focus on building future-oriented banking models by accelerating the pace of digital transformation and providing a customer-centered experience while following regulations and ensuring security.
Fintech World22: Innovation in Competition
November 2-3, 2022
Deutsche Telekom AG Capital Representative Office, Berlin

There are an estimated 1,000 fintechs in the DACH region. An exact number is difficult to define, as new companies are constantly being founded, fintechs are merging, being bought or filing for bankruptcy. As the second largest fintech location in Europe and the largest in the EU, Germany plays a special role here.
At FintechWorld22 on November 2nd and 3rd, 2022 in Deutsche Telekom’s capital city representative office on Gendarmenmarkt in Berlin, you have the opportunity to present yourself as a fintech. If you work in a bank, FintechWordl22 offer you a good overview of a relevant section of the fintech scene. The aim of the two-day conference is to promote exchange between banks and fintechs.
Book your tickets here: https://www.bankingclub.de/events/fintech-world-2022/
The Germany Startup Conference 2022
November 15, 2022, 18:00 – 20:00
Venue to be confirmed, Berlin, Germany


The Germany Startup Conference 2022 will bring together thousands of German startup founders and international investors to discuss the domestic startup ecosystem. The event will feature panel discussions and networking sessions.
DACHsec IT Security Summit
November 15 – 16, 2022
Hilton Munich Park, Am Tucherpark 7, Munich, Germany


DACHsec is a CPE-certified, German-language IT security summit uniting 120+ senior cybersecurity professionals from Germany, Austria, and Switzerland to discuss their cyber security challenges and outline strategies to safeguard from them. Delegates represent the region’s private and public sectors and core industries, including banking and finance, automotive, pharmaceuticals, chemicals and utilities.
Participants will get to hear exclusive keynotes from trail-blazing industry executives as well as having the chance to watch live panel debates, benchmarking their approach to cybersecurity against peers. They will also get to take part in interactive Q&amp;As, chat one-on-one with other attendees and access a library of educational content for 30-days after the event.
Participants will include leaders from the likes of BMW, BSI, Adidas, Coca-Cola, Siemens, Cyber-Security Council Germany and Deutsche Börse.
Tech Day 2022
November 17, 2022, 13:00 – 18:00
ThirtyFive Eventlocation, Wienerbergstraße 11, Vienna Twin Towers, Vienna, Austria


Tech Day is an annual event aimed at uniting the latest technological trends, forward-looking developments and innovative retail companies under one roof for one afternoon. The dynamic event combines short lectures and trade fair elements and intends to act as a bridging event between technology and trade.
On November 17, 2022, more than 170 leading representatives of the domestic trade as well as the tech and startup scene will discuss e-commerce shop systems, the latest payment trends, omnichannel solutions, blockchain, AI, and much more.
Like previous years, the 2022 event will also feature the Retail Innovation Awards, recognizing trading companies for the use of outstanding, innovative solutions across three categories: Best In-Store Solution, Best Online or Mobile Solution, and Best Omnichannel Innovation.
Topics covered will include AI, virtual and augmented reality (VR/AR), logistics, mobile shopping and payment, blockchain, cybersecurity, mixed reality, and much more.
Swiss Payment Forum 2022
November 21-22, 2022
Hybrid, Zurich Marriott Hotel, Switzerland

The Swiss Payment Forum brings together senior attendees from payment service providers, credit card companies, card and chip solution providers, payment processors, mobile network operators, trade and gastronomy as well as IT service providers and system providers with responsibilities in Payment systems, Payment transactions, Electronic and Mobile Banking and etc.
Look forward to these highlights:

The megatrends of the 2020s and their impact on payment and banking
Money in the digital age and the metaverse
Real-time payments: use case for banks
The future of payments and the role of central banks
Is DeFi revolutionizing the financial world?
Smartphone generation: expectations of banking
Thinking outside the box: mobile payment in Spain

Register here: https://www.swisspaymentforum.ch/de
Retail Banking Conference 2022
November 24, 2022, 13:20 – 18:00
Lucerne University of Applied Sciences and Arts, Institute for Financial Services Zug IFZ, Campus Zug-Rotkreuz, Suurstoffi 1, Rotkreuz, Switzerland

The Retail Banking Conference 2022, taking place on November 24, 2022, will examine the current and future market environment, as well as the digital challenges faced by banks and financial service providers.
At this half-day event, participants will be provided with information on how the various competitors in retail banking in Switzerland are developing, which financial service offerings and developments from abroad are also of interest to the Swiss banking landscape and which digital solution approaches are the prominent ones in the prevailing market environment.
Respected personalities from the banking and finance sector will also give presentations on relevant developments in retail banking. In addition, the event will see the release of the annual IFZ Retail Banking Study.
Fintech Forum 2022
November 24, 2022
Airport Club, Frankfurt, Germany


Since 2013, Fintech Forum has offered award-winning insights and connections into the investors and founders behind “What’s next in European fintech”.
Participants will get to hear from top-notch investors and founders on the trends and opportunities across six key segments: payments, banking, asset management, insurance, capital markets, and blockchain/crypto/Web 3.0.
The Switzerland Startup Conference 2022
November 24, 2022, 18:00 – 20:00
Venue to be confirmed, Zurich, Switzerland


The Switzerland Startup Conference 2022 will bring together thousands of Swiss startup founders and international investors, featuring panel discussions, networking session, and presentation on the Swiss startup ecosystems.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/top-29-fintech-events-to-attend-in-dach-in-h2-2022</link><guid>2710</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Top 29 Fintech Events To Attend in DACH in H2 2022</dc:text></item><item><title>Bank of America Makes Strategic Investment in iCapital to Deepen Partnership</title><description><![CDATA[iCapital, a fintech platform for alternative investments and investors, announced that the Bank of America has made a strategic investment in the company.
Bank of America invested in iCapital at the same valuation as iCapital’s last funding round in December 2021. No additional terms of the transaction were disclosed.
This move deepens the partnership between both entities that began in 2018.


iCapital said that it will use the investment to continue to build out the technical capabilities of its global alternative investing solution that supports more than US$130 billion in platform assets.
In March 2019, iCapital acquired Bank of America’s alternative investment feeder fund operations. This enabled the Bank of America to streamline and automate ongoing fund operations and administration services for Merrill and Private Bank advisors and their clients.
Since the initial agreement with Bank of America, iCapital has made a series of acquisitions and launches to expand its technical capabilities and broadened investment opportunities offered on its platform.
Lawrence Calcano
“We are honored to have the support of Bank of America to further iCapital’s mission to provide financial advisors with a complete alternative investing solution.

We look forward to continuing to work with the Bank of America team to enhance our platform to best meet the needs of its Merrill and Private Bank advisors seeking a range of alternative investments for their high-net-worth clients.”
said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital.
Nancy Fahmy
“iCapital and Bank of America share the belief that alternative investments are an important component of a well-diversified portfolio and it is critical to increase access, education and service to advisors and their clients.

Deepening our support of iCapital through a strategic investment is emblematic of the success of our collaborative relationship.”
said Nancy Fahmy, Head of Alternative Investments, Specialty Asset Management and Investment Solutions Specialists for Bank of America.




]]></description><link>https://fintechnews.eu/bank-of-america-makes-strategic-investment-in-icapital-to-deepen-partnership</link><guid>2709</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Bank of America Makes Strategic Investment in iCapital to Deepen Partnership</dc:text></item><item><title>France Central Bank Officer Praises the Potential of Open Finance</title><description><![CDATA[The European Union (EU) was among the world’s pioneers in open banking regulation, adopting since the late 2000s a series of directives to allow new types of market players to provide payment services alongside credit institutions, ultimately increasing competition and fostering innovation.
These directives triggered the development of open banking services by giving a legal status to account information service providers (AISPs), payment services providers (payment institutions (PIs)), and electronic money services providers (electronic money institutions (EMIs)), and establishing the free access to payments data held by banks.
In France, data from the Autorité de contrôle prudentiel et de résolution (ACPR), the administrative authority that supervises the country’s banking and insurance sectors, show that these regulations have significantly increased competition in the industry.


As of the end of 2021, 62 domestic EMIs and PIs had been authorized by ACPR. Half of them received authorization after 2018, showcasing that the Revised Payment Services Directive (PSD2) has been met with enthusiasm by the industry and has accelerated the pace of change in the financial services sector.
ACPR number of EMIs, PIs and AISPs in France, Source: Autorité de contrôle prudentiel et de résolution, Banque de France, March 2022
Now French paytech companies appear to have started exporting their services aboard, with ACPR stating that in 2021, 43 French EMIs and PIs, and 4 AISPs reported at least one passport within the European Economic Area (EEA). Each of them addressed 19 countries on average, the authority estimates.
New regulations and market changes have also led to an increase in the number of foreign EMIs and PIs operating in France. At the end of 2021, 172 EMIs and 282 PIs declared providing services on the French territory, indicating that foreign competition has substantially increased.
Flow of new EPIs, EMIs and AISPs declaring to have operations in France under the cover of their passporting rights, Source: Autorité de contrôle prudentiel et de résolution, Banque de France, March 2022
Supporting open finance
As intended, PSD2 has resulted in the emergence of agile players, and innovative products for customers. The pressure to open up data is now extending to other areas of the financial sector, calling for adaptations in the regulatory framework to harness the opportunities brought about open finance, all the while, mitigating the risks arising from the trend, says Denis Beau, First Deputy Governor, Banque de France.
“Open finance promises new opportunities and more modern payments,” Beau wrote in a recent contribution for Eurofi, a European think tank dedicated to financial services.
“European authorities have to support this digital transformation of finance in the coming years, while regulating its risks. Embracing the ongoing data-driven revolution proactively is key to move Europe forward as a global digital player.”
Open finance, the next step of the open banking journey, involves enabling third-party providers to access customers’ data across a broader range of financial sectors and products ranging from mortgages and savings, to insurance and consumer credit.
The potential of open finance lies in the ability to gain a better understanding of a customer’s financial situation by having a more comprehensive view of their finances and behaviors, ultimately allowing providers to offer tailored products and better serve them.
For Banque de France’s Beau, open finance “holds great potential to improve customer experience and streamline back-office operations way beyond payments, in areas such as mortgages, securities, or pensions,” offering the prospects of more accessible, efficient and innovative financial services, he said.
But the trend also comes with risks that must be mitigated with proper regulation. For one, open finance will ultimately further lower entry barriers, potentially increasing market concentration. This challenge is particularly acute with bigtechs’ entry into finance. These companies already have significant market power in the areas of cloud computing, mobile payments and digital identification, Beau says, and could misuse their market power to increase user switching costs, exclude potential competitors, and consolidate their position by raising barriers to entry.
Another consideration relates to data privacy and data protection in the wake of increasing data volume in circulation and cross-referencing. Cross-border data flows also complicate the enforcement of regulations and make it more difficult for authorities to act, Beau notes.
The European Commission (EC) is currently working on an open finance framework with hopes for greater data-driven innovation in the financial sector. Building on the progress made with the landmark PSD2, the new legislation will seek to further enhance data sharing and openness across and within sectors. A legislative proposal for the framework is expected for later this year.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/france-central-bank-officer-praises-the-potential-of-open-finance</link><guid>2708</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>France Central Bank Officer Praises the Potential of Open Finance</dc:text></item><item><title>CityFALCON Raises US$2 Million From Holt Xchange, eToro and TBH</title><description><![CDATA[CityFALCON, which transforms unstructured financial content into structured data, has closed its equity fundraising campaign on private investment platform Seedrs after having secured £1.65 million (US$2 million).
As a part of this fundraise, The Holt Xchange, a global early-stage VC firm and platform in Canada, and Terance Butler Holdings (TBH), a property investment company in the UK, have both taken stakes in the company.
Moreover, eToro, a social trading and multi-asset investment company with over 27 million registered users globally, also took a small position in the company.


eToro is one of its client and powers its news tab with CityFALCON’s content, providing users with a quality contextual newsfeed to inform investment decisions and increase engagement.
According to CityFALCON, serial entrepreneurs that were not named had also taken part in the round. One of its angel investors had reportedly sold his last company for £500 million.
Overall, 1200 investors participated in this fundraising round which witnessed new and existing investors.
CityFALCON added that the funds will be used to scale up its business and roll out new products.
Elisabeth Laett
Elisabeth Laett, Managing Partner at Holt Xchange said,
“The democratisation of financial information is the result of a global demand to access better education and deeper financial insights for a broader audience.

We have been impressed with the team’s mission at CityFALCON and pleased to further support them in this seed round”.
Ruzbeh Bacha
Ruzbeh Bacha, CEO at CityFALCON commented,
“We are grateful and very excited about this round, especially during these volatile and uncertain times.

Our users, clients, and investors on Seedrs have been amazingly supportive”.



Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/cityfalcon-raises-us2-million-from-holt-xchange-etoro-and-tbh</link><guid>2707</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>CityFALCON Raises US$2 Million From Holt Xchange, eToro and TBH</dc:text></item><item><title>Cristiano Ronaldo and Binance Team Up for NFT Partnership</title><description><![CDATA[Binance announced an exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo.
The five-time Ballon D’or winner is joining forces with Binance to provide a one-of-a-kind experience for football fans worldwide, with a series of NFT collections that will launch exclusively on Binance’s official NFT platform. Registered Binance users in select countries will also be able to purchase the collections using Binance Pay.
The first collection, slated to launch later this year, will feature designs created in collaboration with Ronaldo.


Cristiano Ronaldo via Twitter
“Nothing is more important to me than the fans, so the idea of bringing unprecedented experiences and access through this platform is something that I wanted to be a part of,”
says Ronaldo.
“I know the fans are going to enjoy the collection as much as I do.”
Through this partnership, Binance is taking the sports fandom experience to unprecedented levels. Moreover, it will build on existing partnerships with the Argentine Football Association, the Brazilian Football Confederation, and professional sports clubs S.S. Lazio (IT) and FC Porto (PT).
Changpeng Zhao
“Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work,”
said Binance Founder and CEO “CZ” (Changpeng Zhao).
“We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”
To all the NFT, football, and Cristiano Ronaldo fans, this is only the beginning of what’s to come.


Proud to be partnering with @binance 
Together we’ll give you the opportunity to own an iconic piece of sports history.
I’m excited to take this journey with all of you. Let’s change the NFT game with #Binance. pic.twitter.com/SNSCMHggct
— Cristiano Ronaldo (@Cristiano) June 23, 2022

Featured image credit: Binance
]]></description><link>https://fintechnews.eu/cristiano-ronaldo-and-binance-team-up-for-nft-partnership</link><guid>2706</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Cristiano Ronaldo and Binance Team Up for NFT Partnership</dc:text></item><item><title>European Banking Authority Asks for PSD2 Review</title><description><![CDATA[The European Banking Authority (EBA) published today an Opinion and Report in response to the European Commission’s Call for Advice (CfA) on the review of the Payment Services Directive (PSD2).
In its response, the EBA puts forward more than 200 proposals that would contribute to the development of the single EU retail payments market and ensure a harmonised and consistent application of the legal requirements across the EU. In particular, the EBA’s proposals aim at enhancing competition, facilitating innovation, protecting consumers’ funds and data, fostering the development of user-friendly services, and preventing exclusion from access to payment services, as well as ensuring a harmonised and consistent application of the legal requirements across the EU.
The EBA has observed that, while some objectives of the PSD2 have started to materialise, there are still many issues and challenges that need to be addressed. The proposed amendments include:



merging the PSD2 and the Electronic Money Directive;
clarifying the application of strong customer authentication (SCA) and the transactions in scope;
addressing new security risks for customers such as social engineering fraud where customers are tricked into initiating a payment transaction;
addressing concerns about authentication approaches (e.g. based on smartphones) that have led to exclusion of certain groups of society from using payment services online;
addressing underlying issues and obstacles to the provision of payment initiation services (PIS) and account information services (AIS), including the proposals for (i) AIS providers to apply their own SCA with their customers instead of relying on the authentication procedures by banks, (ii) empower customers to remain in control of their data; and (iii) support the development of high-quality interfaces across the EU;
moving from ‘Open banking’ to ‘Open finance’ (or otherwise the expansion from access to payment accounts data towards access to other types of financial data) and the opportunities and potential challenges associated with it, based on the PSD2 experience;
addressing the enforcement shortcomings in relation to the implementation and application of SCA for e-commerce card-based transactions and the removal of obstacles to the provision of AIS and PIS;
addressing unwarranted de-risking practices by banks affecting payment and e-money institutions; and
adjusting the prudential requirements, in particular in relation to initial capital, own funds, the use of professional indemnity insurance, the proposal for recovery and wind-down for significant payment institutions and possible consolidation group supervision.

Legal basis and background
The PSD2 regulates the provision of payment services across the EU and applies since 13 January 2018. As part of the review of the PSD2, on 20 October 2021, the EU Commission sent a Call for Advice to the EBA with the objective to gather evidence on the application and impact of the PSD2, including any benefits and challenges that may have arisen. The Call for Advice also seeks to identify areas where amendments to the PSD2 might be appropriate.


Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/european-banking-authority-asks-for-psd2-review</link><guid>2705</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>European Banking Authority Asks for PSD2 Review</dc:text></item><item><title>SumUp Raises 590 Million Euro</title><description><![CDATA[SumUp has raised a €590 million funding round that gives the company an enterprise value of €8 billion following a decade of rapid growth and global expansion.
The round was led by Bain Capital Tech Opportunities, with participation from funds managed by BlackRock, btov Partners, Centerbridge, Crestline, Fin Capital, and Sentinel Dome Partners, among others. This latest round is a combination of debt and equity and brings SumUp’s total capital raised to €1.5 billion.
SumUp was founded in 2012 to help small merchants start, run and grow their business through a fair, easy, and reliable payment solution. Today, its financial services Super App provides merchants with a free business account and card, an online store, and an invoicing solution, as well as in-person and remote payments seamlessly integrated with SumUp’s proprietary card terminals and point-of-sale registers. More than 4 million businesses ‒ from taxi drivers and coffee shop owners to large sports stadiums ‒ trust SumUp to deliver when it matters.


SumUp’s team of over 3,000 people supports merchants in 35 countries worldwide, with Peru (launched in June 2022) being the company’s most recent new market. In recent years, SumUp has also expanded into point-of-sale solutions, and with the acquisitions of Goodtill, Tiller, and Fivestars, the company is rapidly expanding its footprint within the restaurant and retail sectors.
Marc-Alexander Christ
Marc-Alexander Christ, SumUp co-founder and CFO, said of the round:
“SumUp has received consistent support from the global investment community in our mission to help small merchants succeed. We stand by our merchants whatever the circumstance ‒ whether that be COVID or macroeconomic uncertainty. Our ability to organically grow 60+% through the challenges of recent years shows that we are there for merchants when they need support most. I am very proud of the team for completing a successful financing round in the current market with marquee investors – it’s indicative of our strength, execution, and potential. The funds we’ve raised will enable us to continue to build out our product ecosystem, expand into new markets, pursue value-adding acquisitions, and continue leveling the playing field for small merchants at a global scale.”
Darren Abrahamson
Darren Abrahamson, a Managing Director at Bain Capital Tech Opportunities, added:
“SumUp has continually evolved to empower a growing and diverse field of small businesses with payment solutions and tools to efficiently connect with their everyday consumers. SumUp’s leadership team have led the company to sustained and accelerated growth through expansion to more than 30 countries where they have had a direct and positive impact on the small business ecosystem. We’re proud to contribute our deep fintech and payments experience to aid SumUp’s remarkable ability to push the boundaries and lead an incredibly competitive industry.”
Bain Capital has deep global investment experience across the payments and e-commerce sectors, having invested in and added value to a wide-range of companies at all stages of their growth cycle.
Goldman Sachs International acted as exclusive placement agent for SumUp. Weil, Gotshal &amp; Manges acted as legal adviser to SumUp on the financing.

Featured image credit: SumUp
]]></description><link>https://fintechnews.eu/sumup-raises-590-million-euro</link><guid>2703</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>SumUp Raises 590 Million Euro</dc:text></item><item><title>Bundesrat trifft Richtungsentscheid für einen Schweizer Innovationsfonds</title><description><![CDATA[Der Bundesrat will den Standort Schweiz für Startups weiter stärken. Er hat am 22. Juni 2022 einen Richtungsentscheid zugunsten eines branchenneutralen Schweizer Innovationsfonds getroffen. Dieser soll die Finanzierung von Start-ups insbesondere während der Wachstumsphase und namentlich in den Bereichen Dekarbonisierung und Digitalisierung verbessern. Bis anfangs 2023 sollen die konkreten Eckwerte erarbeitet werden.
Die Schweiz soll auch mittel- und langfristig zu den produktivsten, wettbewerbsfähigsten und innovativsten Standorten der Welt gehören und langfristig Arbeitsplätze, Wertschöpfung und Steuersubstrat sichern können. Im Ausgang aus der Covid-19-Krise prüfte der Bundesrat neue Ansätze zur Erreichung dieser Ziele.
Im August 2021 hatte der Bundesrat deshalb das WBF beauftragt, die Vor- und Nachteile eines Schweizer Innovationsfonds zu untersuchen. Dabei sollte ausgelotet werden, inwiefern durch einen solchen Fonds der Risikokapitalmarkt in der Schweiz erweitert und damit die Wachstumschancen innovativer Unternehmen in der Schweiz verbessert werden könnten.


Die Analysen haben gezeigt, dass ein Innovationsfonds den Reifegrad des Schweizer Risikokapitalmarktes erhöhen, dessen Widerstandsfähigkeit stärken und damit die Standortattraktivität der Schweiz verbessern kann. Ein Innovationsfonds trägt weiter dazu bei, den Wegfall einzelner Instrumente der europäischen Rahmenprogramme zu kompensieren.
Als neuer Bestandteil der Schweizer Innovationspolitik soll der Innovationsfonds das Innova­­­tionsökosystem insgesamt langfristig stärken sowie die bestehenden Innovationsförderinstrumente, insbesondere jene der Innosuisse, ergänzen. Der Bundesrat will dabei den Fokus auf die Scale-up-Phase sowie auf die Bereiche Dekarbonisierung und Digitalisierung legen. Das WBF wird dem Bundesrat bis Ende Januar 2023 die Eckwerte eines Innovationsfonds und mögliche Finanzierungsvarianten unterbreiten.
]]></description><link>https://fintechnews.eu/bundesrat-trifft-richtungsentscheid-fur-einen-schweizer-innovationsfonds</link><guid>2704</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Bundesrat trifft Richtungsentscheid für einen Schweizer Innovationsfonds</dc:text></item><item><title>4 Fintech Execs Make Top 100 B2B Marketers Leaderboard</title><description><![CDATA[HotTopics.ht, a thought leadership platform for business leaders, has announced 2022’s top 100 global marketing leaders in the technology sector. Of the 100 business-to-business (B2B) marketing executives selected, four represent financial and insurance technology companies.
Selected by the public and chosen by a jury, these 100 B2B marketers were recognized for trailblazing within the tech industry, contributing to significant business growth during their tenure, and for showing exceptional leadership capabilities.
The final 100 individuals include chief marketing officers and other C-level marketing executives of multinational tech corporations, telecommunication firms, financial software companies and tech startups. The four fintech B2B marketers that made it into this year’s list are:


Cherry Eromosele, Group Chief Marketing and Corporate Communications Officer, Interswitch Group
Cherry Eromosele, Group Chief Marketing and Corporate Communications Officer, Interswitch Group, Source: LinkedIn
Cherry Eromosele is the group chief marketing and corporate communications officer of Interswitch, a leading integrated digital payments and commerce player in Africa.
At Interswitch, Eromosele leads the firm’s marketing and communications function and is responsible for creating and implementing innovative marketing strategies towards building the entire Interswitch brand portfolio, spanning both the corporate (Interswitch) and consumer segments of the business, including the flagship Verve and Quickteller brands.
Eromosele is an experienced and data-driven C-level marketing leader with 25+ years track record building and leading integrated marketing and communications team at industry-leading firms across the beverages and consumer goods, telecoms and technology sectors.
She was recognized as Marketing Personality of the Year (2015) in Nigeria by Marketing Edge, one of the top 50 Marketing Professionals in West Africa at the annual Marketing World Awards in Accra, Ghana, one of the Top 50 Female Marketing Professional in Nigeria in May 2020, and as the Most Outstanding Marketing Professional of 2021 (Financial Technology Category) at the Women in Marketing and Communications Conference and Awards last year.
Helen Trim, Senior Vice President Marketing, EMEA and APAC, Coupa Software
Helen Trim, Senior Vice President Marketing, EMEA and APAC, Coupa Software, Source: LinkedIn
Helen Trim is the senior vice president of marketing for Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC), at Coupa Software. At Coupa Software, Trim leads the go-to-market strategy and customer acquisition programs required to meet pipeline generation, acceleration and revenue targets for over 50 countries.
Over her 25-year career, Trim has developed strong entrepreneurial roots co-founding a number of digital and social media agencies. She has extensive experience leading both agency and client-side teams in European, APAC and US markets, specializing in go-to-market strategies, account-based marketing design and roll out, demand generation, campaign strategy and execution, public relations and communications, as well as thought leadership and content marketing strategy.
Coupa Software is a cloud-based technology platform for business spend management, providing companies with visibility into all spend and allowing them to gain control over their spending, optimize their supplier network and supply chains, and manage liquidity.
Martin Häring, Chief Marketing Officer and Member of the Executive Committee, Temenos
Martin Häring, CMO, Temenos, Source: LinkedIn
Martin Häring is the chief marketing officer (CMO) of Temenos, a Swiss firm specializing in enterprise software for banks and financial services. At Temenos, Häring is in charge of the company’s brand evolution, the go-to-market strategy, and forging new partnerships through co-marketing and co-innovation.
He has more than 25 years in B2B marketing and branding and has extensive experience leading global marketing organizations for large technology enterprises, including financial software and cloud services.
Häring joined Temenos in July 2021 from Red Hat, where he was vice president of marketing for EMEA. Before this, he was the CMO of Misys and subsequently Finastra where he was responsible for the company brand, product messaging, and go-to-market approach. He has held senior marketing executive roles in Akamai Technologies, Sun Microsystems and Oracle.
Häring has been named one of the most influential marketing leaders in Europe on many occasions, and is a well-respected thought leader on open banking, cloud banking, and banking-as-a-service (BaaS).
Sakina Najmi, Vice President Marketing, Tractable
Sakina Najmi, VP Marketing, Tractable, Source: Tractable
Sakina Najmi is the vice president of marketing of Tractable, a technology company that develops artificial intelligence (AI) to assess damage to property and vehicles. Tractable’s technology assists with the evaluation and settlement of insurance claims amounting to more than EUR 1.8 billion annually worldwide.
Najmi has more than 15 years of B2B marketing experience, and excels at driving revenue and business results through results-driven marketing strategy, product launches, messaging and positioning, competitive intelligence, sales enablement, demand generation and outbound marketing communications. She has built high-performing marketing teams and led them through digital transformation.
Najmi’s specialties include product marketing, digital marketing and digital strategist, social media marketing and search engaging optimization (SEO), customer retention and customer lifecycle management, as well as data-driven analytics and strategic insights. She was featured as one of the top 20 women in B2B tech marketing in 2019 by B2B Marketing.
]]></description><link>https://fintechnews.eu/4-fintech-execs-make-top-100-b2b-marketers-leaderboard</link><guid>2702</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>4 Fintech Execs Make Top 100 B2B Marketers Leaderboard</dc:text></item><item><title>Citi Partners With Metaco to Develop Institutional Digital Asset Custody Capabilities</title><description><![CDATA[Citi announced yesterday that it has selected Switzerland-based METACO to develop and pilot digital asset custody capabilities.
This collaboration brings together METACO’s technology and digital solutions with Citi’s expansive custody network to develop a platform to enable clients to store and settle digital assets seamlessly and securely. Citi intends to fully integrate METACO’s bank-grade digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.
Okan Pekin
“We are witnessing the increasing digitization of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients,”
said Okan Pekin, Global Head of Securities Services at Citi.


This strategic partnership enables Citi to extend its existing capabilities to digital assets while leveraging its current technological, operating and servicing model. Citi’s extensive global network, coupled with the power of the Harmonize platform, will allow Citi to expand securely and effectively into new markets, while utilizing its existing global operations, technology, and risk frameworks. The technology capabilities developed under this partnership will be an integral part of Citi’s Institutional Client Group digital asset strategy.
Adrien Treccani, CEO and Founder of METACO, commented,
“We are pleased to team up with Citi, one of the largest securities services firms, to support them in their vision to bridge digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets.”
The leading technology provider to financial institutions in the digital asset ecosystem, METACO has supported several key implementations, including FINMA, BaFin, FCA, Banco de España, and MAS regulated institutions.
With over US$27 trillion of assets under custody, administration and trust, and an industry-leading proprietary network spanning 63 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies, and a wide range of custody and fund services that can be tailored to meet clients’ needs.

Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/citi-partners-with-metaco-to-develop-institutional-digital-asset-custody-capabilities</link><guid>2701</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Citi Partners With Metaco to Develop Institutional Digital Asset Custody Capabilities</dc:text></item><item><title>SEON Partners With Provenir to Improve Fraud Detection Solutions</title><description><![CDATA[Fraud prevention platform SEON announced a new partnership with credit risk specialist Provenir to help organisations build better fraud prevention solutions.
Through this partnership, Provenir provides an AI-powered decisioning platform that can assess risk in areas like identity, credit, and fraud.
The Provenir Marketplace provides organisations with a one-stop data hub that makes it easy to access information covering open banking, KYC/KYB, fraud, credit risk, verifications, social media, collections, affordability and more.


This comprehensive fintech data and business intelligence ecosystem brings together offerings from data vendors around the globe into one cloud solution for data consumption.
Meanwhil, SEON’s system can establish an individual’s digital footprint based on their email address, phone number, IP address, or location in real-time.
This GDPR-compliant approach to analysing a user’s digital footprint helps companies to accept more transactions while blocking fraudulent ones.
This service provides secure customer identification, while not interfering with the optimal customer journey.
The new partnership is now fully live, with SEON’s solution already helping to improve fraud detection performance in conjunction with Provenir’s platform.
Jimmy Fong
Jimmy Fong, CCO of SEON commented,
“SEON and Provenir perfectly complement each other, which makes our new partnership a match made in heaven for businesses across a number of sectors. From the first interactions, it was clear that our two businesses’ visions were fully aligned. Now, together, we will improve experiences for users across the company’s platform, while reducing the risk of fraud.
“Provenir is a great partner as they target identity, fraud and credit risk. Now, with access to our data sources, the company is able to provide customers with more data choices to include in their credit risk management solutions. In addition, our technology is helping to enrich know-your-customer (KYC) checks to further mitigate the risk of fraud and to enable better customer decisions. By working collaboratively, we’re able to ensure this process is as seamless and straightforward as possible.”
Carol Hamilton
Carol Hamilton, Senior Vice President, Global Solutions at Provenir added,
“We’re excited to have SEON join the Provenir Marketplace to help customers gain real-time insights from social and digital sources to verify identity and combat fraud.

SEON’s rich data and flexibility allows customers to customize their rules and risk models as needed to make instant, accurate decisions.”



Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/seon-partners-with-provenir-to-improve-fraud-detection-solutions</link><guid>2699</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>SEON Partners With Provenir to Improve Fraud Detection Solutions</dc:text></item><item><title>Klarna App Is Enhanced With Digital Wallet for Easy Access to Loyalty Cards</title><description><![CDATA[Klarna, a leading global retail bank, payments, and shopping service today announced the launch of its new Loyalty Card feature in the Klarna App.
This allows app users to store and access their physical loyalty cards as digital versions. They can then collect all points and benefits at any merchant without the need to carry plastic equivalents while out shopping in-store. Powered by the acquisition of mobile wallet provider, Stocard, the primary consumer offering now integrates into the Klarna App as a means of further establishing an all-in-one experience that drives convenience and value to consumers’ shopping journey. The feature supports over 8,000 loyalty reward programs worldwide, spanning everything from clothing and beauty to technology and groceries to help ensure that consumers never miss out on collecting valuable points – wherever they shop.
Loyalty programs are very popular amongst consumers. According to studies, 69% of US consumers say loyalty programs influence their purchasing decisions. However, today many loyalty programs require consumers to carry a physical card with them, which consumers find inconvenient. In fact, 79% are more likely to join a loyalty program that doesn’t require them to carry a physical card. US consumers surveyed in a recent Klarna survey* reflect the same sentiment, with nearly a third (31%) having avoided signing up for a loyalty program in the past because they were unwilling to carry another card. In addition, over half (59%) of US consumers do not carry all of their loyalty cards with them while out shopping, meaning they regularly miss out on rewards when shopping in-store without their loyalty cards at hand.


The new Loyalty Card feature in the Klarna App solves this by enabling users to store their physical loyalty cards as digital versions in one place. Now, while out shopping, users can easily access any of their cards directly in the Klarna App and never miss out on loyalty points or perks again.
Björn Goss
Björn Goss, Product Director at Klarna and Founder of Stocard:
“Physical loyalty cards are an inconvenience in today’s digital world and are therefore often left at home, resulting in consumers missing out on deals and merchants losing a prime opportunity to reinforce brand loyalty.  We all know the situation: you are offered to join an attractive loyalty program but don’t want to carry yet another plastic card around. By equipping Klarna App users with a digital space to collect their loyalty cards we allow them to reap the rewards of their in-store purchases in a far more convenient way, helping ensure that every penny spent counts towards a return.”
David Fock
David Fock, Chief Product Officer at Klarna:
“At Klarna, we want to give consumers the world’s best shopping experience, no matter whether that’s online or on the high street. After the launch of our revolutionary new Virtual Shopping tool, Klarna is now delving deeper into physical retail, helping consumers save time and money everywhere they shop. By equipping users with a digital space to conveniently collect their loyalty cards we are raising the physical shopping experience to a new level of convenience and flexibility.”
How does the Klarna Loyalty Card feature work?

Step 1: From the homepage of the Klarna App, click on the Loyalty Card icon and select “Add card” button to see a full list of supported merchants and loyalty programs. Here users can browse through or search for a specific loyalty program. Alternatively, if the loyalty program is not supported yet, the user can choose to add “Other card” and input the merchant name manually.
Step 2: Add your card. After finding the loyalty program, users can scan the barcode on their physical card with the camera on their mobile device. The app will then create a digital copy and store it in the reward space in the Klarna App. For cards that don’t have a barcode, users are able to manually type their membership number in to add the card.
Step 3: Use your card to collect points in-store. While shopping in a physical store, users are able to display and scan their loyalty cards from the Klarna App. Simply open up the card from within the app, scan the card at the checkout and collect the points or claim your discount, just as you would with a physical card.

Klarna’s digital Loyalty Card space is live today in the Klarna App in 18 regions, including Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal,  Spain, Sweden, Switzerland,  the UK and the US. The offering will extend to additional markets throughout 2022.
]]></description><link>https://fintechnews.eu/klarna-app-is-enhanced-with-digital-wallet-for-easy-access-to-loyalty-cards</link><guid>2698</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Klarna App Is Enhanced With Digital Wallet for Easy Access to Loyalty Cards</dc:text></item><item><title>Swiss Private Bank Bergos AG Selects New Access SA to Support Its Digital Transformation</title><description><![CDATA[The core-to-digital solution suite provider, New Access SA, is very proud to announce the signing of a new license agreement with Swiss Private Bank BERGOS AG.
Bergos is an independent Swiss Private Bank specialized in wealth management, offering investment solutions in all liquid and non-liquid asset classes. The bank focuses on asset management and advisory, offering services beyond money such as Art Consult and Multi Family Office Services. Active in the Swiss financial center for more than 30 years, it operates internationally with more than 100 professionals dedicated to the company’s success. Bergos AG has been recently awarded with the highest distinction “summa cum laude” in the renowned “Elite of Asset Managers” competition in Munich.
After a comprehensive review of various vendors, Bergos decided to rely on New Access solutions to support its digital transformation and enhance its functional capabilities. The Swiss private bank decided to modernize its existing systems by choosing a fully integrated platform that is consistently focused on the digitalization of its processes. The new platform will include the full range of core-to-digital solutions offered by New Access.
Vincent Jeunet
“We are very proud to have been chosen by Bergos AG to support its digital transformation with our complete core-to-digital solution suite. The full New Access solution will help Bergos streamline their processes and optimize the application landscape with a completely integrated suite. It is a significant project that our teams are ready to start, and we are very grateful for the trust Bergos AG is placing in us.”
Vincent Jeunet, CEO of New Access.
This strategic transformation will strengthen Bergos AG’s Core capabilities, allowing the Swiss Private Bank to enhance its automation and standardization processes, operate from a single integrated and centralized platform, and ultimately improve digital interactions with relationship managers and end-user clients.
Peter Raskin
“The digital transformation is bringing formidable possibilities and disruptive changes to the banking sector. As a Private Bank dedicated to Human Private Banking, we are focused on delivering the best possible services, accompanied by seamless processes, for our clients. The collaboration with New Access will broaden our options in the digital realm and therewith enhance the digital experience of Bergos for both our clients and our team. We are looking forward to working together!”
Dr. Peter Raskin, CEO and Partner of Bergos.
In addition to the fully comprehensive solution suite, Bergos has subscribed to New Access’ Managed Services to operate, monitor, and manage the global platform.
The first milestone will be reached in 2022 and will form the basis of this collaboration.

About Bergos AG
Bergos AG is an independent Swiss private bank with a focus on private wealth. It emerged in 2021 with a new shareholder base from its former mother company, Joh. Berenberg, Gossler &amp; Co. KG (founded in 1590), and has been serving international private clients and entrepreneurs in the Swiss financial center for over thirty years. Its headquarters are in Zurich with an office in Geneva. The Swiss private bank is dedicated to “human private banking” and specializes in wealth management and advisory services. With more than 100 employees, the focus is on providing expert guidance in all known liquid and non-liquid asset classes, as well as alternative investments such as real estate, private equity and art. For entrepreneurial clients, Bergos offers access to M&amp;A and other corporate finance services. Bergos AG offers private clients, entrepreneurs and their families a holistic, intergenerational service that focuses on security, neutrality, internationality and openness to the world, in addition to investment recommendations.
About New Access SA
New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the private banking and wealth management industry. New Access enables digital transformation and improves client’s satisfaction with its digital front-end solution, including an advisor cockpit, Client Lifecycle Management (CLM) and a client/EAM portal. Its offering also includes an advanced and comprehensive Core Banking System, a Portfolio Management System (PMS) and a powerful workflow engine (BPM). New Access has been operating for over 20 years exclusively in the private banking and wealth management sectors, supporting more than 60 customers, globally.

]]></description><link>https://fintechnews.eu/swiss-private-bank-bergos-ag-selects-new-access-sa-to-support-its-digital-transformation</link><guid>2697</guid><author>Administrator</author><dc:content /><dc:text>Swiss Private Bank Bergos AG Selects New Access SA to Support Its Digital Transformation</dc:text></item><item><title>Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector</title><description><![CDATA[The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction.
A 2021 study by advisory firm Aite-Novarica looked at ten vendors in the document identification and verification (ID&amp;V) space, highlighting a notable growth in the demand for document ID&amp;V solutions. Within the next two years, 90% of financial institutions surveyed by the firm shared plans to implement mobile identity document capture and verification solutions.

These trends are reflective of the changing face of customer expectations and behaviors amid increased competition from tech giants and fintech startups, advances in technology, and an evolving fraud and regulatory landscape.
As the adoption of digital continues to grow, digital and mobile service are expected to become the norm for onboarding and account opening for financial services, says cybersecurity firm OneSpan.
Improving customer experience
In a new whitepaper focusing on digital agreements and identity verification, the firm shares insights and best practices for financial institutions looking to transform identity verification and document signing processes to improve customer experience and compliance, eliminate human error, and reduce the risk of fraud.
According to the paper, customer expectations have shifted profoundly these past couple of years, driven by new challengers coming to the market with frictionless, and superior digital-first experiences.
This has lowered customers’ tolerance level, putting incumbents at risks of losing sales and customer loyalty. Against this backdrop, financial institutions need to leverage technology platforms to digitize each stage of the account opening and financial agreements processes – from identity verification to smart digital forms, signing, and secure storage of all documents and audit trails, OneSpan says.
Not only does the ability to bring new customers onboard via a fully digital journey leads to a better customer experience, higher completion rates and faster cycles, it also allows financial institutions to cut costs by improving efficiency and eliminating manual work, the firm says.
Fighting fraud
As interactions through digital channels continue to rise in prominence, fraud is following suit. Account security and fraud prevention specialist Arkose Labs observed a surge of over 70% in new account fraud between 2020 and 2021.
New account fraud occurs when a fraudster or money mule is being successfully onboarded by a financial institutions using either their own identity, a stolen identity or a synthetic identity.
Research firm Javelin Strategy and Research estimates that in the US, traditional identity fraud losses caused by criminals illegally using victims’ information to steal money, exploded to US$24 billion (USD) in 2021, a figure that represents an alarming 79% increase over 2020.
To migrate the risk of new account fraud, many financial institutions are turning to technology to help them validate the identity of an applicant and prove the validated identity is genuinely the individual they are interacting with, OneSpan notes.
For example, digital verification checks allow financial institutions to prove who an applicant is without the need to meet them face-to-face. These solutions make use of technologies like biometrics, face recognition and digital ID verification to help organizations verify the identity of a person remotely in a faster, more efficient and more accurate manner.
Proving compliance
In addition to mitigating new fraud risks brought about digitalization, technology also allows financial institutions to more easily prove compliance.
For example, some technology platforms that digitize account opening and financial agreement processes can capture an audit trail of exactly what the applicant saw and did during a transaction, and store that audit trail in a secure and tamper-proof way.
This audit trail can then be used to prove that fair and compliant practices were followed, and that the applicant was fully aware of what they were signing up for at the time of opening an account or applying for a financial product.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/digital-id-verification-remote-document-signing-to-become-the-norm-in-finance-sector</link><guid>2696</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/20210721_Global-Document-Identification-and-Verification-Market-Overview-1024x598.jpeg?x30842</dc:content ><dc:text>Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector</dc:text></item><item><title>Point Zero Forum to Kick off Tomorrow in Zurich</title><description><![CDATA[The Swiss Secretariat for International Finance (SIF) and Elevandi (a company set up by the Monetary Authority of Singapore (MAS) to advance FinTech in the digital economy) will kick off the inaugural Point ZERO Forum in Zurich, Switzerland, tomorrow.
Running from 21 to 23 June 2022, the invite-only, in-depth engagement forum which brings together founders, investors, and policymakers will focus on two significant new market opportunities built on Web 3.0 architecture: tokenisation and sustainable finance.
Tuesday, 21 June
The Forum begins with the Investor Summit by Elevandi Connects, a closed-door briefing for investors in the afternoon of 21 June (CEST), with opening remarks by Alvin Tan, Singapore’s Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board member of MAS. It is followed by an Investor Roundtable on the future of the Token Economy and Sustainable Finance. Attendees can also attend various Innovation Tours scheduled throughout the day to uncover the latest developments in Web 3.0, embedded finance, and sustainable finance. These tours were curated by research centres, incubators, and accelerators around Zug and Zurich.


The next two days of the Forum will focus on extensive discussions around Web 3.0.
Wednesday, 22 June
Spotlight on The Future of Financial Services: Four special sessions in the Leadership Series will feature
1) Driving FinTech Through Three Double Helixes by Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng Swee Keat, who will open the day’s events;
2) Agustín Carstens, General Manager, Bank for International Settlements, Ravi Menon, Managing Director, Monetary Authority of Singapore, and Prof Thomas J. Jordan, Chairman of the Governing Board, Swiss National Bank will come together to discuss The Future of Financial Services: The Policy Makers’ Perspective;
3) Douglas Lehman Feagin, Senior Vice President for Global Strategic Partnerships and Investments, Ant Group, Ericson Chan, Group Chief Information and Digital Officer, Zurich Insurance Company, Olga Zoutendijk, Chairwoman, Fnality International, and Ralph A.J.G. Hamers, Group Chief Executive Officer, UBS Group AG, will share insights at a Board Room Talk: The Future of Financial Services; and
4) Where FinTech Meets Impact: Tokenisation and Sustainable Finance by Switzerland’s Federal Councillor, Ueli Maurer, who will close the day’s activities.

Six plenary sessions focusing on the Tokenisation Market Opportunity will cover key topics from Crypto: Current and Future Economy to the Building Blocks for the Token Economy and What’s Next for Stablecoins. Leading experts from the public and private sector will share their insights on crypto regulations, digital assets, Decentralised Finance, and Central Bank Digital Currency in a series of closed-door roundtables.
Thursday, 23 June
Seven plenary sessions focusing on the Sustainable Finance Opportunity will cover key topics such as The ESG Market Opportunity: Accessing Credible Data, Board Room Talk: The Climate Imperative to Innovative Finance for Conservation. At the closed-door Roundtables, participants from public and private sectors will come together for dialogues in Shared Responsibility: The Future of Green Financing and Unlocking ESG Data: The Role of Public-Private Digital Partnership.
Spotlight on FinTech Leaders:
1) Series of fireside chats with international founders and influencers such as:

Benjamin Cistecky, Director, Investments, Temasek
Henric Suuronen, Founding Partner, Play Ventures
Feng-Yuan Liu, Vice President of Business Development, Aicadium
Jeff Schumacher, Founder and Chief Executive Officer, NAX Group
Julian Teicke, Founder and Chief Executive Officer, wefox
Ladi Delano, Co-Chief Executive Officer &amp; Co-founder, Moove Africa
Marco Bizzozero, Head of International &amp; Member of the ExCo, iCapital
Matthias Knecht, Co-Chief Executive Officer &amp; Co-founder, Billie
Neil Davidson, Executive Chairman, Coda Payments
Sam Rhee, Chairman and Chief Investment Officer, Endowus
Sebastien Borget, Co-Founder &amp; Chief Operating Officer, The Sandbox

2) The day closes with a Digital Assets: Ask Me Anything with David Marcus, Co-founder &amp; Chief Executive Officer, Lightspark and Michael Shaulov, Chief Executive Officer &amp; Co-founder, Fireblocks.
The full agenda of the Forum can be found here.
Throughout the two days, participants will also receive exclusive access to sessions such as Roundtables, Think Tanks, 1:1 Curated Business Meetings, and the Industry Networking Party designed to provide opportunities for a meeting of minds between speakers and delegates.
]]></description><link>https://fintechnews.eu/point-zero-forum-to-kick-off-tomorrow-in-zurich</link><guid>2695</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Point Zero Forum to Kick off Tomorrow in Zurich</dc:text></item><item><title>Nascent Metaverse Finance Industry Provides Investors with Exciting Opportunities</title><description><![CDATA[In 2021, interest in the metaverse spiked following a surge in sales of non-fungible tokens (NFTs) and announcements from bigtechs sharing their interest and investment in the space.
This year, the momentum is continuing, with corporations, venture capitalists (VCs) and private equity (PE) firms having invested more than US$120 billion in the metaverse in the first five months of 2022 alone, a figure that’s more than double the US$57 billion committed to the space in all of 2021, data from McKinsey show.
As the concept of an immersive virtual environment continues to gather steam, the so-called metaverse finance (MetaFi) landscape is starting to take shape, providing plenty of opportunities for entrepreneurs and investors alike to tap into.


This is one of the conclusions shared in a new report co-authored by Switzerland’s Institute of Financial Services Zug IFZ and Synpulse8, the fintech division of global management consulting company Synpule.
The document, titled Metaverse Report: An overview of the current status and developments for the financial industry, aims to provide the financial sector with an introduction to the metaverse and its developments, and discuss the drivers of the trend and its potentials.
At this stage of game, financial services are still scarce in the metaverse, the report says, and only three main product areas can be observed:

The payments category, which mainly includes payment tokens associated with distributed ledger technology (DLT)-based metaverses that are used for the purchase and trade of virtual land or other products and services (e.g. MANA by Decentraland and SAND by The Sandbox);
Investment management, which involves the provision of investment solutions such as metaverse-related thematic ETFs (e.g. Fidelity Metaverse ETF and Proshares Metaverse ETF); and
The banking infrastructure category, which includes all the companies and organizations involved in the development of virtual hubs or infrastructure for the provision of financial services (e.g. Fidelity Stack by Fidelity (Decentraland); HSBC (The Sandbox)).

In the area of deposit and lending, the report notes no concrete financial solutions offered yet, and advises traditional financial service providers to look into possible solutions in the medium to long term.
Financial services and the metaverse, Source: Metaverse Report: An overview of the current status and developments for the financial industry, Institute of Financial Services Zug IFZ and Synpulse8, June 2022
Investment opportunities
Although the metaverse and its boundaries as a concept is still very much a moving target, several estimates suggest that it could become a massive market.
Citi forecasts that by 2030, total metaverse users could be anywhere between one billion to five billion users. The bank estimates a target addressable market for the metaverse economy in the range of US$8 trillion to US$13 trillion.
Sizing the Metaverse Economy in 2030 ($ trillions), Source: IMF, Citi Global Insights, 2022
These prospects make the metaverse an interesting investment opportunity for investors, the Institute of Financial Services Zug IFZ/Synpulse8 report says.
It advises investors looking to capitalize on the trend to look for technology-oriented industries that are developing the metaverse. This includes those developing the physical layer, including chip producers like Qualcomm and Nvidia and cloud infrastructure providers like Amazon Web Services (AWS) and Microsoft Azure, as well as companies developing the network layer, including those involved in 5G and low latency networks like Swisscom and AT&amp;T.
Investors should also consider the organizations creating the technological protocols and interface toolkits that provide access, visualization and programmability. This includes DLT protocols like Ethereum and Cardano, virtual reality (VR) headsets providers, holographic solution providers and 3D specialists.
The third area, the platform layer, comprises the platforms that allow users to immerse themselves in virtual worlds. These platforms can be centralized worlds like Roblox and Minecraft, and decentralized worlds such as Decentraland and The Sandox.
Finally, the fourth and last layer, the content layer, encompasses the applications created by providers and accessed by users. This include payment solutions (e.g. Visa and PayPal), cryptocurrency exchanges (e.g. Binance and Kraken), crypto wallets (e.g. Metamask and Bitski) and NFT marketplaces (e.g. OpenSea and Dapper).
Since direct financial exposure to the metaverse is not possible, indirect investments in providers of the required technologies are an proper option for investors looking to participate in the development of the metaverse, the report says.
Build-up of a metaverse, Source: Metaverse Report: An overview of the current status and developments for the financial industry, Institute of Financial Services Zug IFZ and Synpulse8, June 2022

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/nascent-metaverse-finance-industry-provides-investors-with-exciting-opportunities</link><guid>2694</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Nascent Metaverse Finance Industry Provides Investors with Exciting Opportunities</dc:text></item><item><title>Austria’s Qenta Taps Netcetera to Secure Cashless Payments in the Region</title><description><![CDATA[Netcetera, a Swiss software company that provides secure digital payments, announced that it will be collaborating with Austrian payments services provider Qenta Payment CEE.
Through this partnership, Netcetera will be a reliable expert provider and enabling its secure 3DS technology for the Austrian payment gateway.
Qenta offers its customers an interface for e-commerce payment systems which can be easily integrated into merchants’ payments process chain.


The Austrian payment provider has over 20 years of expertise as a provider of both offline and online payment solutions tailored to their customer’s needs.
Through the usage of Netcetera’s 3DS SaaS product, Qenta is to continue providing its customers compelling business benefits such as improved conversions, optimised checkout processes, reduced fraud, and protection from fraudulent chargeback liability.
Netcetera’s acquiring products enable users to process transactions with 3-D Secure protocols and PSD2 SCA exemptions, certified with the biggest card networks and fully compliant with the standards in the payment industry such as PCI – DSS and PCI-3DS.
Wolfgang Harder-Pachernegg
“We have been using Netcetera’s reliable 3DS technology for several years via our partner networks. We have now chosen to collaborate even more closely and are happy to have Netcetera as our direct technology partner. This partnership provides us with access to the latest payments industry innovations and information, as well as reliable, 24/7 support.

For us, the decisive factor to work so closely with Netcetera was their deep industry knowledge and the consistency that Netcetera provides to its customers. Their 3DS SaaS product has allowed us to continue our successful legacy of cashless payment protection in the CEE region. We are pleased to continue developing this partnership both today and in the future.”
said Wolfgang Harder-Pachernegg, VP of Payment Products at QENTA Payment CEE.

Petra Paul
“We are happy to work with Qenta and to jointly push towards progress in our dynamic industry. Our goal is to guarantee secure online payments for the Qenta customers spread around the whole CEE region.

Our 3DS server means excellent service availability and supporting the needs of the provider 24/7.”
said Petra Paul, Senior Sales Executive Digital Finance at Netcetera.

]]></description><link>https://fintechnews.eu/austrias-qenta-taps-netcetera-to-secure-cashless-payments-in-the-region</link><guid>2693</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Austria’s Qenta Taps Netcetera to Secure Cashless Payments in the Region</dc:text></item><item><title>Mihails Safro, Xpate CEO: Core Banking Solutions Simplify Customer Experience on Both B2B and B2C Levels</title><description><![CDATA[Mihails Safro, CEO of xpate, that has just delivered it’s own in-house build core banking solution tells about the history and the meaning of this technology.
What is the Core Banking System?
Mihails Safro, Xpate
Core banking stands for “Centralized Online Real-time Exchange”. It is the cornerstone of any financial institution, responsible for routine daily operations. In other words, it is a centralised network that serves as a tool for controlling all the back-end and front-end processes. Of course, the end beneficiaries of that system are customers – core banking allows them to make money transfers and monitor activity in the bank account app.
Core Banking is known for its retail use rather than corporate. The advantages it brings to retail customers are evident, such as quick access to the bank account through the web. However, in the past few years, the number of corporate clients has grown, leading to banks realising the potential of core banking in the corporate sector. Now, they are working on tailored solutions for the B2B sector.


With core banking, users can access their bank accounts, make deposits, use ATMs, and take advantage of the internet and mobile banking. Core banking utilises ICT (Information Communication Technology) as an umbrella platform bringing all the apps that make banking easy and straightforward under one roof.
History of Core Banking
Core banking is the first tech utilised by banks in the 1980s when digitalisation was just taking off. However, the process is far from being completed and has a lot to go through to reach its final point – despite the obvious advantages, banks are struggling to go full digital which has to do with regulations, operations, and sometimes hesitance to new changes.
The first attempt to go digital was in the 1970s in the US, when fintech created the first-ever apps for large financial chains. After the experiment, such digital solutions were implemented in other parts of the world, such as Europe, Australia, and Asia. However, these apps had their own issues and limitations due to their early development stage. They were tailored to servicing customers and unable to process large amounts of data. However, the tables had turned in the 1990s, when many firms theorised concepts of future banking. In 30 years, the overwhelming majority of financial institutions in the developed world moved on the core banking rails and created their own data centres.
Objectives of Core Banking System
Core banking aims to simplify customer experience for consumers and bank employees. Back then and even now, customers are forced to physically visit the branches, wait in lines, and even pay for management services. Bank employees had to spend hours recording transactions and all the customer’s activity manually. Core banking strives to eliminate these unnecessary interactions and replace them with technology, making banking available anytime. All executed transactions are automatically calculated and recorded. Customer data is gathered by the system and saved in a digital database, allowing banks to utilise a data-driven approach for decision-making.
The data-driven approach is one of the major advantages of core banking. Banks can gather information from collected data and make informed decisions. Furthermore, the financial sector must comply with a dozen regulations, which is another area where core banking helps – it allows banks to generate reports demanded by the regulator much quicker. Finally, core banking is customisable – you can always redesign it depending on the market situation or consumer demands.
Wrapping up
Core banking is a vital part of any financial institution that’s currently operating. It simplifies processes, takes charge of daily banking operations and automates the tasks that were previously done manually. Furthermore, core banking also introduced the concept of a unified framework tailored to a specific financial institution. In other words, all the branches finally got access to a single database storing past transactions, consumer activities and much more.
Yet, the customers received the most benefits. Core banking eliminates queues, lifts the burden of physical communication with bank managers and introduces banking on the go, also known as mobile banking. Given all the advantages, the core banking system has a bright future.
]]></description><link>https://fintechnews.eu/mihails-safro-xpate-ceo-core-banking-solutions-simplify-customer-experience-on-both-b2b-and-b2c-levels</link><guid>2691</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Mihails Safro, Xpate CEO: Core Banking Solutions Simplify Customer Experience on Both B2B and B2C Levels</dc:text></item><item><title>Amnis Closed Series-A Funding Round of CHF 8.6 Million</title><description><![CDATA[AMNIS Treasury Services,  a Zurich-based fintech founded in 2014 with the goal of reshaping international banking for SMEs, announced the closing of a Series-A investment round of CHF 8.6 million. The funding round, led by Lansdowne Partners, will enable further market expansion and product development.
Amnis provides SMEs with an international banking solution to transfer money abroad, exchange currencies and collect payments on a single cost-effective platform. Committed to transparency and efficiency, the platform focuses on the needs of SMEs, giving them the opportunity to enter the global economy with a competitive edge. During the last 12 months, the company entered 5 new countries, opened 3 additional offices in Vaduz, Vienna and Prague and tripled the size of its team. Moreover, the platform’s payment volume has dramatically increased by more than 100% compared to last year.
The new investment funding allows amnis to strengthen the company’s main assets and to further expand into new markets across Europe. Lansdowne Partners, as lead investor, is an investment management firm that aims to foster European technology innovation through its investments. Spicehaus Partners, who led the previous funding round, acted as co-lead investor. Daniel Andres, Co-founder and Partner at Spicehaus Partners, commented:


Michael Wüst
“I believe that amnis is the best example of Swiss innovation and expertise, ready to expand internationally with an outstanding service portfolio tailor-made for SMEs.”
Michael Wüst, Co-founder and CEO of amnis, said:
“We are delighted that our existing investors as well as a globally renowned investment manager contributed to the success of this financing round. The investment enables us to boost international growth further and to bring our global transaction banking solution to even more SMEs across Europe. We have already rolled out business activities in 6 countries. This funding round gives us the confidence that we can replicate our business model in other markets as well.”
Amnis was founded in 2014 by Michael Wüst (CEO), Robert Bloch (COO) and Philippe Christen (CFO) to facilitate international business for SMEs, a sector with huge potential that they believe is underserved by traditional banks. To meet its high ambitions, amnis constantly improved its core product, fast-tracked the digital onboarding and added local and multi-currency IBAN accounts to its product portfolio.
Thanks to this successful financing round, amnis will start business in France, Slovakia, and the Benelux market by the end of 2022 and will provide more services to SMEs, including invoicing, debit cards and E-commerce solutions.
]]></description><link>https://fintechnews.eu/amnis-closed-series-a-funding-round-of-chf-86-million</link><guid>2689</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Amnis Closed Series-A Funding Round of CHF 8.6 Million</dc:text></item><item><title>Swiss Real Estatte Crowdfunding Platform Foxstone Raises CHF 10 Million</title><description><![CDATA[The online real estate investment platform Foxstone has completed a CHF 10 million Series A financing round, the company’s largest to date.
The participation of almost all the existing shareholders is to be noted, as well as the arrival of new entrants in the capital, including Rosablanche Ventures, the family investment vehicle of Thierry Baudon, who founded Mid Europa Partners, one of the largest private equity funds in Central and Eastern Europe.
Foxstone is a real estate crowdfunding platform, which gathers investors and allows them to acquire investment properties together. The company also issues participatory loans to finance real estate development projects. It offers a turnkey service from properties and projects selection to their monitoring and management. All processes are fully digitized and can be completed in just a few clicks. The platform, which gathers more than 15’000 investors, has achieved a transaction volume of over CHF 150 million since its launch in 2018.


Prime investors
Thierry Baudon and his wife Isabelle Schirmer have an extensive experience in private equity and venture capital and are the co-founders of Rosablanche Ventures, a company dedicated to financing Swiss start-ups that led this financing round. The Vaudoise Assurances Group, a long-standing shareholder of Foxstone and a prominent institutional investor in Switzerland, is increasing its equity stake for the third consecutive time. Naef Holding, a renowned Geneva-based real estate investment and services group, is also acquiring a stake. Naef already manages a portfolio of residential properties worth more than CHF 50 million on behalf of Foxstone.
Strengthened governance
Convinced of the importance of a strong governance with diversified profiles and relevant experience (real estate, banking, investments) in Switzerland and internationally, Foxstone now has a five-member Board of Directors. Thierry Baudon, Stefan Schürmann (Group Vaudoise Assurances) and Ivan Schouker join the board, the latter taking on the role of independent chairman. Foxstone’s financial management is also strengthened with the addition to the position of CFO of Isabelle Schirmer, who has 30 years of international experience in corporate strategy and development, M&amp;A and venture capital.
Thierry Baudon
“Foxstone democratizes and provides access to real estate investment to everyone. It is a leader in its industry and has a successful track record. We are very pleased to be working with Foxstone, a company that has earned the trust of its investors by delivering very concrete results. We will support and advise the management team, who has great ambitions in a sector where we see strong growth potential,”
explains Thierry Baudon.
Stefan Schürmann
“The Group Vaudoise Assurances has been a partner of Foxstone and its team since the beginning. We are very pleased with this financing round, which places the company in a whole different category. The implementation of an institutional governance will play an important role in its development,”
says Stefan Schürmann, Head of Corporate Development and M&amp;A at Group Vaudoise Assurances.
Future developments
Foxstone plans to consolidate its activities in the Swiss market and to implement the tokenization of real estate assets, which will allow for the full democratization and liquidity of this asset class. Eventually, Foxstone’s ambition is to create a fully digitalized marketplace dedicated to real estate, where anyone will be able to trade securitized real estate shares, as well as loan securities to real estate developers starting at CHF 1’000 in a few clicks from their smartphone. At the same time, the company will remain true to its core business by continuing to deploy technology solutions that will allow it to further automate processes and analyze an ever-increasing amount of data to identify the best investment opportunities.
Dan Amar
“We are very proud of the work done by our teams and pleased to welcome new investors who share Foxstone’s strategic vision and whose combined experience is a real asset. We look forward to developing new markets and increasingly innovative and accessible products,”
says Dan Amar, CEO of Foxstone.



Featured image credit: (L-R) David el Eini, Dan Amar, Thierry Baudon, Isabelle Schirmer, and Yossi Amar 
]]></description><link>https://fintechnews.eu/swiss-real-estatte-crowdfunding-platform-foxstone-raises-chf-10-million</link><guid>2688</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Swiss Real Estatte Crowdfunding Platform Foxstone Raises CHF 10 Million</dc:text></item><item><title>Swiss Real Estate Crowdfunding Platform Foxstone Raises CHF 10 Million</title><description><![CDATA[The online real estate investment platform Foxstone has completed a CHF 10 million Series A financing round, the company’s largest to date.
The participation of almost all the existing shareholders is to be noted, as well as the arrival of new entrants in the capital, including Rosablanche Ventures, the family investment vehicle of Thierry Baudon, who founded Mid Europa Partners, one of the largest private equity funds in Central and Eastern Europe.
Foxstone is a real estate crowdfunding platform, which gathers investors and allows them to acquire investment properties together. The company also issues participatory loans to finance real estate development projects. It offers a turnkey service from properties and projects selection to their monitoring and management. All processes are fully digitized and can be completed in just a few clicks. The platform, which gathers more than 15’000 investors, has achieved a transaction volume of over CHF 150 million since its launch in 2018.


Prime investors
Thierry Baudon and his wife Isabelle Schirmer have an extensive experience in private equity and venture capital and are the co-founders of Rosablanche Ventures, a company dedicated to financing Swiss start-ups that led this financing round. The Vaudoise Assurances Group, a long-standing shareholder of Foxstone and a prominent institutional investor in Switzerland, is increasing its equity stake for the third consecutive time. Naef Holding, a renowned Geneva-based real estate investment and services group, is also acquiring a stake. Naef already manages a portfolio of residential properties worth more than CHF 50 million on behalf of Foxstone.
Strengthened governance
Convinced of the importance of a strong governance with diversified profiles and relevant experience (real estate, banking, investments) in Switzerland and internationally, Foxstone now has a five-member Board of Directors. Thierry Baudon, Stefan Schürmann (Group Vaudoise Assurances) and Ivan Schouker join the board, the latter taking on the role of independent chairman. Foxstone’s financial management is also strengthened with the addition to the position of CFO of Isabelle Schirmer, who has 30 years of international experience in corporate strategy and development, M&amp;A and venture capital.
Thierry Baudon
“Foxstone democratizes and provides access to real estate investment to everyone. It is a leader in its industry and has a successful track record. We are very pleased to be working with Foxstone, a company that has earned the trust of its investors by delivering very concrete results. We will support and advise the management team, who has great ambitions in a sector where we see strong growth potential,”
explains Thierry Baudon.
Stefan Schürmann
“The Group Vaudoise Assurances has been a partner of Foxstone and its team since the beginning. We are very pleased with this financing round, which places the company in a whole different category. The implementation of an institutional governance will play an important role in its development,”
says Stefan Schürmann, Head of Corporate Development and M&amp;A at Group Vaudoise Assurances.
Future developments
Foxstone plans to consolidate its activities in the Swiss market and to implement the tokenization of real estate assets, which will allow for the full democratization and liquidity of this asset class. Eventually, Foxstone’s ambition is to create a fully digitalized marketplace dedicated to real estate, where anyone will be able to trade securitized real estate shares, as well as loan securities to real estate developers starting at CHF 1’000 in a few clicks from their smartphone. At the same time, the company will remain true to its core business by continuing to deploy technology solutions that will allow it to further automate processes and analyze an ever-increasing amount of data to identify the best investment opportunities.
Dan Amar
“We are very proud of the work done by our teams and pleased to welcome new investors who share Foxstone’s strategic vision and whose combined experience is a real asset. We look forward to developing new markets and increasingly innovative and accessible products,”
says Dan Amar, CEO of Foxstone.



Featured image credit: (L-R) David el Eini, Dan Amar, Thierry Baudon, Isabelle Schirmer, and Yossi Amar 
]]></description><link>https://fintechnews.eu/swiss-real-estate-crowdfunding-platform-foxstone-raises-chf-10-million</link><guid>2692</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Swiss Real Estate Crowdfunding Platform Foxstone Raises CHF 10 Million</dc:text></item><item><title>Swiss Wealthtech 3rd-eyes Analytics Enters US Market with Partnership</title><description><![CDATA[Bonsai announced a partnership with 3rd-eyes analytics, an innovative Swiss Wealthtech company focused on realistic wealth planning.
The 3rd-eyes analytics’ engine will power MyBonsai to hyper-personalize wealth planning and enable financial advisors to significantly enhance value to clients with a scenario-based asset/liability management methodology. The solution will also allow advisors to leverage sustainable investing in all stages of the advisory process.
3rd-eyes’s partnership with Bonsai will be a disruptive force with respect to wealth planning in the United States.


Bonsai empowers RIAs and hybrid advisors with innovative solutions and technology needed to manage the entirety of a client’s balance sheet, a model only historically available to institutional and ultra-high net worth investors.
3rd-eyes analytics offers a cutting-edge asset liability methodology that provides holistic and customized optimization that consistently seeks to improve outcomes for clients.
Robert DeChellis
“Bonsai’s relentless pursuit to recast the future of financial advice led us to the perfect technology partner that shares the same asset-liability management philosophy”,
said Robert DeChellis, Bonsai Founder &amp; CEO.
“Our partnership with 3rd-eyes analytics allows us to offer financial professionals a unique approach to deliver determined outcomes for clients, which provides unprecedented value” he continues.
Through MyBonsai, financial professionals are now able to conduct an asset-liability conversation with their clients. “It is mathematically impossible to accurately construct a financial plan without complete purview of a client’s entire balance sheet”,
explained Robert DeChellis.
Stephanie Feigt
“We couldn’t be more pleased to introduce our innovative methodology to financial professionals in the United States through Bonsai,”
said Stephanie Feigt, Co-Founder and CEO of 3rd-eyes analytics.
“We are in complete alignment with Bonsai’s asset-liability approach to planning and believe our collective visions make this an ideal partnership”, she continues.
The relationship was conceptualized by leveraging the deep subject matter expertise of both Convergency Partners and Acclinate. The Convergency team members are co-founding partners of Bonsai with DeChellis and play an active role in advising on strategic direction.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/swiss-wealthtech-3rd-eyes-analytics-enters-us-market-with-partnership</link><guid>2687</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Swiss Wealthtech 3rd-eyes Analytics Enters US Market with Partnership</dc:text></item><item><title>Don’t Overcomplicate Climate Change</title><description><![CDATA[Asset managers can contribute most to a sustainable economy by sticking to a policy of steadily reducing their portfolios’ carbon emissions.
The November 2021 climate change summit in Glasgow (COP26) brought home the urgency of addressing global warming.
COP26 participants said that limiting warming to 1.5°C by 2050 requires rapid, deep and sustained reductions in global greenhouse gas emissions.


These include a cut in CO2 emissions of 45 percent by 2030 relative to the 2010 level, and to net-zero by mid-century.
The COP26 alarm bells are sounding even louder six months on from the Glasgow conference.
Researchers at the UK’s Met Office said this month that there’s now around a fifty-fifty chance that the world will warm by more than 1.5C in the next five years.
And it’s almost certain that 2022-2026 will see a new record warmest year, they say.
Asset owners, asset managers and greenwashing concerns
Asset managers have a big say in our response to this alarming forecast.
Via the investment products they develop and distribute, they help direct long-term savings towards more sustainable businesses and activities.
Asset managers also sit downstream from the institutional owners of large savings pools, who are becoming increasingly vocal about their climate change objectives.
The Net Zero Asset Owners Alliance (NZAOA), which controls an aggregate $10.4trn in assets, has recently said it wants to work more closely with asset managers, saying it wants to make sure both groups’ stewardship activities and public messaging are aligned.
Does this statement hint at a previous lack of focus in the asset management community? Possibly.
Undoubtedly, some asset managers have in the past struggled to define and label their environmental, social and governance-focused (ESG) investment products.
This derives from the fact that, when it comes to sustainable investing, there are no industry-wide definitions, standards and transparency requirements.
Getting the design of ESG products wrong is not just a matter of a lack of impact. It carries severe reputational—and even financial—risks for the firms concerned.
Around half of UK financial advisers surveyed late last year said that asset managers should face fines for so-called “greenwashing”—providing misleading information about their green credentials to bolster their reputation and increase fund sales.
Don’t overcomplicate climate change
Asset managers can best address these concerns by sticking to their decarbonisation goals. It’s not necessary to overcomplicate climate change, as financial markets have perhaps tended to do in the past.
And the most effective way to measure investors’ impact on the climate and their progress towards a net zero goal is to track their portfolio emissions.
Regulations are already pushing asset managers in this direction. For example, climate benchmarks are playing an increasingly important role in policymaking.
In 2020, the European Commission set out minimum standards for the so-called Paris-Aligned and Climate Transition benchmarks.
Paris-Aligned benchmarks set a goal of a 50 percent reduction in carbon emissions, with a minimum year-on-year decarbonisation rate of 7 percent. Climate Transition benchmarks decarbonise at the same pace but with a lower eventual emissions reduction target.
FTSE Russell has developed a Paris-aligned version of its flagship FTSE All-World index, which excludes companies producing high emissions or involved in controversial activities, as well as boosting green revenues and incentivising better corporate management.
Source: TEG final report on climate benchmarks and benchmarks; ESG disclosures
Asset managers can also now access more sophisticated portfolio decarbonisation tools.
For example, the Carbon Footprint template, available in Refinitiv Eikon’s Portfolio Analytics app, helps asset managers calculate the carbon exposure of a portfolio and to report the associated data.
The template offers a weighted view of carbon emission exposures, allowing investors to quickly identify which companies in the portfolio have the greatest intensity of carbon emissions—both reported and estimated.
Source: Refinitiv Workspace as of May 1, 2022
We need step-by-step change
In addressing climate change, long-term goals are important. But just as we can individually make small contributions to sustainability by modifying our consumption patterns, reducing our use of plastics and recycling what we can, a step-by-step change that will have the most effect in the battle with global warming.
This is particularly true, given that there’s recently been disagreement about science-based climate change targets and the methodologies used to reach them. Unfortunately, using the language of commitments to show we’re making a difference can also be used as an excuse to delay action.
So let’s stick to evidence-based methods. And taking actions today, with an impact on the existing real economy, is what we should all be trying to do.
Discover how LSEG is enabling the global financial markets to achieve sustainable growth with our unique ecosystem of sustainable finance solutions and insights.

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Featured image credit: Unsplash
]]></description><link>https://fintechnews.eu/dont-overcomplicate-climate-change</link><guid>2686</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Don’t Overcomplicate Climate Change</dc:text></item><item><title>Fintech and Finance Firms Snap Up Media Companies to Gain Audience</title><description><![CDATA[This past year has seen banks, financial services companies and fintech startups snapping up media companies, realizing the merits of owning their audience to gain exposure, sell more products and become more profitable.
An extensive research paper by business analytics and market intelligence company CB Insights looks at finance companies’ possible motives and ambitions in acquiring media companies, delving into the recent deals that occurred.
The report highlights that while there is a number of reasons for purchasing media and community, perhaps the biggest benefit is that it drives the cost of acquiring a new client to much lower levels. The reason for that is quite obvious: these platforms already have an audience and traffic, allowing brands to get access to a large pool of prospects pretty much overnight.


For these firms, the ambitions are clear: being able to run more contextually relevant and impactful marketing campaigns, increasing customer engagement and affinity, becoming the go-to brand for specific topics, and, ultimately, becoming more profitable.
Finance firms acquiring media companies
In the finance industry, the trend has certainly been observed this past year with a number of high-profile acquisitions recorded.
In Q3/Q4 2021, JPMorgan, the world’s largest financial services institution, purchased two content/media assets: The Infatuation, a popular restaurant discovery platform designed to provide honest recommendations for where to eat; and Frank, a fast growing college financial planning platform.
Food and dining is a key spend category for card companies, and with its 1.5 million to 2 million monthly visitors, The Infatuation’s audience will not only help JPMorgan cheaply attract new cardholders but also provide perks and benefits to existing cardholders, increasing thus engagement and affinity, the CB Insights report says.
Besides traditional banks, new-age finance companies and fintechs too are aggressively pursuing acquisitions of media platforms.
Most recently, Pipe, a US trading platform for recurring revenues, acquired Purely Capital, a media and entertainment financing company. Pipe said in a statement that the deal was meant to help Pipe expand into other sectors, furthering its mission to becoming the trading platform for any company with recurring revenues, regardless of industry.
Similarly, mobile banking platform MoneyLion announced in November 2021 that it had purchased Malka Media Group, a fast growing digital media and content platform across entertainment, sports, gaming, live streaming, and brand storytelling.
MoneyLion said the deal will not only allow it to accelerate its ability to engage with consumers across all digital and emerging channels, but also connect directly with communities natively inside and outside of its platform.
At around the same period, Scalable Capital, a German neobroker, unveiled the purchase of JustETF, a special interest portal for exchange-traded index funds (ETFs) and investing. Scalable Capital said the acquisition will complement its existing information resources and support its path towards becoming Europe’s leading digital investment platform.
With a presence in Germany, Italy, and other European markets, JustETF claims to be one of the largest information portals on ETFs on the continent, recording around eight million hits per month.
In the same category goes that end of  2019 Swiss unicorn Avaloq took over full control over Derivatives Partners including the Derivatives online and offline magazine payoff.ch.
In the US, Prove, a phone-based authentication services provider, bought fintech advisory and insights platform Medici Global (including their online news site GoMedici.com) in March 2021 to expand its sales and business development activities and bolster its marketing capabilities. Founded in 2013, Medici Global claims it has built the industry’s first insights and advisory platform dedicated to fintech.

Asian finance firms flock to media companies
In Asia, AMTD Digital, the digital solutions platform owned by Hong Kong’s AMTD Group, has been actively working on expanding its presence in the media space. In August 2021, the firm finalized its purchase of DigFin, a local online journalism brand and fintech content agency launched in 2017 by financial journalist and author James DiBiasio.
The deal came just months after the company’s strategic investment in Hong Kong-based digital media platform Forkast, and its partnership with publishing and data firm 36Kr.
Founded in 2017, Forkast is a media site that covers all things blockchain and emerging technology at the intersection of business, economy, and finance. In May 2021, it closed an oversubscribed US$1.7 million seed round 2021 that included the participation of Fenbushi Capital, Alibaba Hong Kong Entrepreneurs Fund, Animoca Brands, Longling Capital, CMCC Global and Sora Ventures.
AMTD Digital is far from being the only fintech player in Asia to have set its sights on fast-growing media companies and communities.
Just three months ago, Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers, committed a whopping US$200 million investment in business magazine and digital media platform Forbes.
The deal followed Vietceta’s US$2.7 million pre-Series A in August 2021 that saw the participation of investors such as Go-Ventures, Gojek’s corporate venture arm; Z Venture Capital, the corporate venture arm of Z Holdings, which is owned by SoftBank Group and Naver Corporation; East Ventures; Summit Media; Genesia Ventures; as well as Hustle Fund.
Created in 2016, Vietcetera targets Millennials and Gen Z audiences and claims an audience of 20 million users per month. The company has plans to to launch new vertical brands in 2022 focused on women’s content, real estate and personal finance.
In Hong Kong, HashKey Capital, the corporate venture capital (CVC) fund of HashKey Digital Asset Group, participated earlier this month in a US$10 million funding round going towards Decrypt, a media company focused on the cryptocurrency industry and the decentralized web, and its production arm Decrypt Studios, a Web3 studio specializing in metaverse activations.
Decrypt said it will use the proceeds to invest in further editorial growth and live video efforts at Decrypt Media, as well as continue building out Decrypt Studios, which has so far enjoyed success with branded non-fungible tokens (NFTs) and metaverse-related projects for clients in the fashion, entertainment and real estate industries.
A spin-off of blockchain accelerator and incubator ConsenSys Mesh, Decrypt claims it has grown to 5 million average monthly unique visitors since its inception back in 2018.
Besides HashKey Capital, other investors that participated in the round included Hack.VC, Canvas Ventures, Protocol Labs and SK Group.
Other noteworthy developments
To wrap up our review of the most notable media acquisition deals and funding rounds closed this past year, we’ve compiled a non-exhaustive list of other noteworthy news in the domain:

Cryptocurrency exchange Coinbase rolled out a new Fact Check blog to hit back against negative press coverage and “misinformation”;
Quartz, a business news organization, is being acquired by media group G/O Media;
TechNode Global, a pan-Asian tech media and community platform startup, closed a US$1 million seed round led by Kairous Capital, with the participation of Nutty Capital and SPH Ventures, the corporate venture arm of Singapore Press Holdings;
Robinhood acquired MarketSnacks, a media company that aimed to make financial news digestible and has since been rebranded as Robinhood Snacks
Cain Communications, a media company, has acquired Green Market Report, a digital media brand that covers financial news of the rapidly growing cannabis industry;
German publisher Axel Springer completed its US$1 billion acquisition of Politico, one of the world’s most influential sources for political news; and
Blackstone, an American alternative investment company, bought media and data company International Data Group (IDG) for an enterprise value of US$1.3 billion
(July Update):Grvty Media (owner of Vulcanpost.com) acquired by Singapore’s Towerhill by Kiat Lim

2019 Tech Media Funding Overview


This article first appeared on fintechnews.sg

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/fintech-and-finance-firms-snap-up-media-companies-to-gain-audience</link><guid>2685</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/07/Sift-On-Demand-webinar.png?x30842</dc:content ><dc:text>Fintech and Finance Firms Snap Up Media Companies to Gain Audience</dc:text></item><item><title>Banking Circle Supports Bluecode and TWINT’s Interoperability</title><description><![CDATA[The mobile payment systems German-Austrian Bluecode and the Swiss TWINT are now interoperable with one another.
Interoperability of said two systems is based on the specifications of EMPSA (European Mobile Payments System Association).
TWINT and Bluecode interoperability has already been running since January 2022 on a friends-and-family basis.


To allow for more users paying in each other’s network, Bluecode and TWINT mandated Banking Circle as a central hub for foreign exchange (FX) and settlements.
As a result, funds between the two mobile payment systems will be transferred via Banking Circle providing the central settlement account. Transactions in different currencies are automatically converted.
Banking Circle has capitalised on its unique position as an independent bank with access to direct clearing and settlement in the SEPA region to contribute to establishing mobile payment interoperability in Europe.
Bluecode users are able to pay at the point of sale using any Bluecode-capable app in Switzerland, whilst TWINT users are able to pay at the point of sale in Austria and Germany with their TWINT-App.
Bluecode and TWINT chose a centralised technical setup whereby funds are now easily converted and transferred via a Banking Circle access point.
Christian Pirkner
Christian Pirkner, Chairman of EMPSA, explained the importance of this first example of cross-system interoperability:
“It is absolutely great that TWINT and Bluecode have built interoperability based on EMPSA specifications.

Them choosing Banking Circle for foreign exchange and settlement services ensures a highly scalable setup for the Alpine Corridor of EMPSA.”
Anders la Cour
Anders la Cour, Chief Executive Officer of Banking Circle Group added,
““The collaboration between Bluecode and TWINT is tremendously exciting. We’re genuinely fixing a problem that was holding back growth in the European mobile payments market, with a solution that creates a better consumer experience as well as delivering a new revenue stream.

Building on our independent financial infrastructure we have already united two domestic P2M schemes and expect to connect more over the coming months. It could well turn into a game-changer for the mobile payments sector.”
Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/banking-circle-supports-bluecode-and-twints-interoperability</link><guid>2684</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Banking Circle Supports Bluecode and TWINT’s Interoperability</dc:text></item><item><title>Salesforce Expands Social Commerce Offerings, Connecting Merchants With TikTok</title><description><![CDATA[Salesforce is partnering with TikTok to make it easier for Commerce Cloud merchants to engage with the TikTok community, including advertising to users and making their products more discoverable. This partnership is the latest Commerce Cloud platform investment to help businesses reach social-media-savvy shoppers.
Driving the news: Nearly one in 10 purchases are now made on social media, and that number is only increasing. With social commerce becoming an increasingly important channel, this partnership presents an opportunity for businesses to understand today’s social shoppers and curate highly-personalized content for TikTok’s 1 billion monthly users, giving consumers multiple opportunities to engage with their favorite brands at any time.



The Salesforce perspective:
Scot Gillespie
“Forward-looking brands need to have a presence anywhere their customers might want to meet them, so the boundaries of commerce must extend beyond any single channel and, on the back end, data has to flow across those channels so companies can deliver connected experiences efficiently,”
said Scot Gillespie, GM of Commerce Cloud.
“We’ve already made great strides in helping brands leverage the power of Customer 360 to seamlessly connect with their customers on social through integrations with platforms like Facebook and Instagram, and our partnership with TikTok is the next crucial piece of the puzzle.”
What’s the impact: To start, the partnership will enable merchants to seamlessly and efficiently build their presence on TikTok by:

Supercharging merchandiser productivity with automated smart product feeds through a rich in-app experience. Merchants can get their products published quickly and easily on TikTok via a diverse array of catalog-focused advertising solutions with simple one-click set up, which will sync pre-existing Commerce Cloud catalogs on TikTok.
Delivering world-class personalization and ad conversion efficiency with TikTok Pixel, which makes it quick and easy for merchants to analyze ad performance and optimize campaigns for improved product discovery. Advanced Matching also lets merchants better match TikTok ads and build audiences for retargeting.
Elevating the customer journey with dynamic video and collection ads to inspire new audiences across channels. Merchants can now easily add and launch TikTok as a new sales channel within Salesforce Commerce Cloud.

The TikTok view:
Melissa Yang
“TikTok is home to a new kind of commerce experience, where community, entertainment and commerce blend, creating unique opportunities to engage with consumers and drive impactful results,”
said Melissa Yang, Head of Ecosystem Partnerships at TikTok.
“We’re thrilled to be working with Salesforce to make it easier than ever for merchants to be discovered and authentically connect with the TikTok community.”


Fast Facts:

According to Salesforce’s State of Connected Customer report, 57% of customers prefer to engage through digital channels, that number spikes to 65% for Gen Z and Millennial consumers.
61% of consumers plan to shop more on social media over the next three years.



Featured image credit: edited from Unsplash
]]></description><link>https://fintechnews.eu/salesforce-expands-social-commerce-offerings-connecting-merchants-with-tiktok</link><guid>2683</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Salesforce Expands Social Commerce Offerings, Connecting Merchants With TikTok</dc:text></item><item><title>Western Union Taps Mambu for Its New Digital Bank Platform in Europe</title><description><![CDATA[Cloud banking platform Mambu has teamed up with Western Union to integrate its solution into the latter’s next generation real time multi-currency digital wallet and digital banking platform in Europe.
Mambu will enable Western Union to extend the relationship with its customers, and create a new banking experience.
With its cloud-native platform, Mambu has 70 million daily users and over 230 banks and financial institutions as customers.


Built on Mambu, Western Union’s digital banking app WU+ will bring together a range of features that make it easy to move money, manage cards and view transactions.
Mambu gives Western Union full control to deploy new banking products and services that are easy to configure and integrate with external applications.
In a single, native mobile app, customers can create a new account in minutes by selecting a subscription model and start saving and spending instantly.
Thomas Mazzaferro
Thomas Mazzaferro, Chief Data &amp; Innovation Officer at Western Union said,
“Our ambition is to provide market-leading financial solutions to our customers. By partnering with Mambu we have built our digital banking products and services starting in Europe with Germany and Romania.

The Mambu and Western Union team have come together in a truly collaborative partnership accelerating our financial service ambitions, while building a product that can scale and is cloud agnostic.”
Eugene Danilkis
Eugene Danilkis, CEO and Co-founder of Mambu said,
“The industry has reached a tipping point for cloud adoption. Large financial institutions have started a global trend of moving to cloud-native, nimble tech stacks and are becoming part of the ecosystem.

Western Union adopted the cloud because they recognised that FIs of the future need to engage their customers with excellent new products. We are looking forward to seeing Western Union wow their customers with modern and secure banking services.”
]]></description><link>https://fintechnews.eu/western-union-taps-mambu-for-its-new-digital-bank-platform-in-europe</link><guid>2681</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Western Union Taps Mambu for Its New Digital Bank Platform in Europe</dc:text></item><item><title>Crowdfunding Volume Regains Strength in Switzerland</title><description><![CDATA[In 2021, crowdfunding volumes in Switzerland regained some strength after activity stalled in 2020 due to various effects of the COVID-19 pandemic. The year saw a volume of CHF 791.8 million transacted via crowdfunding platforms, a significant market growth of 30.5% compared to 2020, according to the annual Crowdfunding Monitor Switzerland report by the Institute of Financial Services Zug IFZ of the Lucerne School of Business.
Successfully funded crowdfunding campaigns in Switzerland by funding volume 2008-2021, Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business
Like previous years, crowdlending led most of the year’s crowdfunding activity, making up 76.7% of 2021’s total volume (CHF 607 million). The sum represents a 35.5% increase from 2020’s figure of CHF 448 million, the biggest annual jump across the four crowdfunding segments studied. The amount was raised through 3,055 crowdlending campaigns (versus 2,323 in 2020).
Of the CHF 607 million raised through crowdlending in 2021, CHF 418 million was accounted for by real estate, up 40.9% from 2020 (CHF 296.7 million). It’s followed by business crowdlending (CHF 110.4 million in 2021 versus CHF 95.9 million in 2020), and consumer lending (CHF 78.7 million in 2021 versus CHF 55.4 million in 2020).


Crowdlending volumes in Switzerland 2012-2021, Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business
After crowdlending, the crowdinvesting segment recorded the second-highest volume of 2021 at CHF 147.2 million (29.1%), up 29% from 2020 at CHF 114 million. The bulk of the volume in crowdinvesting again came from the real estate category at CHF 142.2 million. That’s more than double 2020’s figure of CHF 69 million.
According to the report, the strong growth observed in the real estate crowdinvesting segment has been driven by strong demand for home ownership and stimulated by the low mortgage interest rates, the working from home trend and the negative interest rates.
Crowdinvesting volumes in Switzerland 2012-2021, Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business
Finally, the third main crowdfunding segment studied, reward-based crowdfunding and crowddonating, generated a volume of CHF 37.6 million through 1,867 campaigns. It’s the only crowdfunding segment that recorded a decrease in 2021, dropping in volume of around 15.8% compared to 2020.
Reward-based crowdfunding : crowddonating volumes and number of campaigns 2012-2021, Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business
2022 forecasts
Apart from looking at past years’ crowdfunding activities, the report also shares predictions on what’s to come this year onward.
In 2022, the Swiss crowdfunding market is expected to grow further, and could very well break the billion franc barrier for the first time, the report says. It anticipates a volume of between CHF 1-1.1 billion in 2022.
In the crowdinvesting segment, the momentum is set to continue in 2022, growing at a projected annual growth rate of between 30% and 40%. This would translate to an estimated total volume of CHF 780-850 million in 2022.
If this growth does in fact continue, the crowdlending market will likely reach a critical size within the next three to five years during which it will become of interest to a larger number of institutional investors, further fueling the sector.
In the crowdinvesting market, the report expects real estate crowdinvesting to grow at a growth rate of 40%-50% in 2022 to reach CHF 195-210 million. As for business crowdinvesting, more momentum is expected as well as new platforms enter the markets.
Switzerland’s crowdfunding platforms
As of the end of April 2022, 37 crowdfunding platforms were operating in Switzerland. Of these 37 platforms, 28 reported successful funding campaigns in 2021, in addition to three foreign platforms: Kickstarter, KissKissBankBank and Dagobertinvest.
Platforms with active campaigns in Switzerland in 2021 (as of April 2022), Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business
In 2021, three crowdfunding platforms withdrew from Switzerland, the report says: c-crowd and mybrick exited the Swiss market, while new platform there-for-you.com acquired the activities of I care for you. Another newcomer to the Swiss market is Conda, an Austrian crowdinvesting platform.
Since 2008, 61 crowdfunding platforms have been launched in Switzerland.
Entries and exits of crowdfunding platforms in the Swiss market, Source: Crowdfunding Monitor Switzerland 2022, Institute of Financial Services Zug IFZ of the Lucerne School of Business

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/crowdfunding-volume-regains-strength-in-switzerland</link><guid>2682</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Successfully-funded-crowdfunding-campaigns-in-Switzerland-by-funding-volume-2008-2021.png?x30842</dc:content ><dc:text>Crowdfunding Volume Regains Strength in Switzerland</dc:text></item><item><title>Checkout.com Ties up With Fireblocks to Accept Stablecoin Settlements 24/7</title><description><![CDATA[London-based payments solutions provider Checkout.com unveils its stablecoin settlement solution by leveraging Fireblocks’ new crypto payment technology.
This offers merchants the flexibility of 24/7 settlement including weekends and holidays — increasing access to cashflow and significantly reducing operational complexity.
Checkout.com said that it is the first payments services provider to have access to Fireblocks’ crypto payouts technology.


With this access, Checkout.com added that it is also the first to successfully deploy automatic fiat to stablecoin conversion for their merchants as they receive and process funds from customers.
To date, Checkout.com has facilitated settlement of over US$300 million using USDC, a fully collateralised and redeemable USD-pegged stablecoin, via its private stablecoins settlement beta program.
During the beta, Checkout.com successfully tested, refined and optimised ways for customers’ online fiat transactions to be paid to merchants through USDC.
In addition, Checkout.com’s integration with Fireblocks marks the crypto technology provider’s expansion into the payments space following the acquisition of First Digital earlier this year.
Fireblocks’ new crypto payment technology is only available to select PSPs with additional payment capabilities and tools for business to be unveiled later this year.
Checkout.com is among the early PSP partners to deploy this new technology.
Ran Goldi

“ Checkout.com’s weekend settlement means that merchants are no longer restricted by arbitrary settlement times.
 
With our in-house team’s deep knowledge and expertise in digital asset payments, Fireblocks looks forward to our continued collaboration with Checkout.com to bring even more game-changing solutions to the payments space.”

said Ran Goldi, Vice President of Payments at Fireblocks.
Jess Houlgrave

“Stablecoins started as a fiat-denominated asset used by crypto traders to easily move in and out of more volatile crypto assets but we believe they will also play a fundamental role in improving the underlying payment landscape— the fact that we’re the first full stack payments provider to successfully pilot an end-to-end solution with weekend merchant-side settlement capability is testament to our commitment to crypto3.

We’re investing heavily to ensure we can fulfil our mission to enable businesses and their communities to thrive in the digital economy – which we believe includes Web3 and as we see the market reaction, we hope to see more merchants, both crypto native and non crypto native adopt this.”

said Jess Houlgrave, Head of Crypto Strategy at Checkout.com.

Featured image credit: Unsplash
]]></description><link>https://fintechnews.eu/checkoutcom-ties-up-with-fireblocks-to-accept-stablecoin-settlements-247</link><guid>2679</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Checkout.com Ties up With Fireblocks to Accept Stablecoin Settlements 24/7</dc:text></item><item><title>Marco Pizzorusso Appointed as New CFO of Adnovum</title><description><![CDATA[As of August 1, Marco Pizzorusso will take over the financial management of the Swiss software company Adnovum as Chief Financial Officer (CFO) and member of the Leadership Team. He succeeds Roger Bösch, who has decided to take on a new challenge after more than seven years as CFO of Adnovum.
Marco Pizzorusso, today CFO at Vertec Group and previously Group CFO at Zühlke, becomes CFO and member of the Leadership Team of the Swiss software company Adnovum. He succeeds Roger Bösch, who will leave the company by the end of June. As CFO and Head of Group Services, Marco Pizzorusso will be responsible for the financial management of the company, and also for Group IT Services and Solutions, Legal, Risk &amp; Compliance, Office Management, Partner Management, and the Sales &amp; Project Office.
Marco Pizzorusso
Marco Pizzorusso on his new role:


«Software development is an exciting market environment with a wide range of challenges that is in a state of flux. I am inspired by the diversity of the topics and also by the prospect of being able to help shape the development of a company in a decisive phase of growth.»
As a Swiss Certified Expert in Accounting and Controlling, Marco Pizzorusso holds an MAS IFZ in Corporate Finance and an MAS in Swiss and International Taxation. He brings far-reaching experience in the IT industry from his current position with the Vertec Group and his many years of work for Zühlke.
Thomas Zangerl
Adnovum CEO Thomas Zangerl:
«We are very pleased to have Marco Pizzorusso, a highly experienced financial expert and Group CFO, join Adnovum. He knows the challenges in IT and brings extensive experience in all areas essential for this position, from classic controlling to the development as well as the implementation of strategic initiatives. His vast know-how will also benefit us in potential inorganic growth steps.»
]]></description><link>https://fintechnews.eu/marco-pizzorusso-appointed-as-new-cfo-of-adnovum</link><guid>2677</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Marco Pizzorusso Appointed as New CFO of Adnovum</dc:text></item><item><title>Digital Bank radicant Partners With Google Cloud for Scalability and Agility</title><description><![CDATA[Basellandschaftliche Kantonalbank’s (BLKB) digital bank radicant announced that it will be collaborating with Google Cloud.
radicant had recently received a banking license from the Swiss Financial Market Supervisory Authority (FINMA).
The use of the Swiss based Google Cloud enables radicant to take new approaches to design their technology platform.


Through the specific implementation of new technologies, radicant ensures that customers can build a personalised, efficient, and digital banking relationship.
radicant will also benefit from Google’s international know-how and proven technology allowing it to implement the highest standards for latency, security and data privacy for customers in Switzerland.
Additionally, the use of Google Cloud enables radicant to easily scale processes and respond to new customer needs in an agile and new manner.
Google Cloud has been operating its local Swiss cloud region since March 2019 enabling local customers to comply with Swiss standards and regulations for data privacy and security.
Dr. Anders Bally
“We consider banks and asset managers as data systems, so it is only natural to collaborate with Google Cloud being one of the industry leaders in data analytics and machine learning to help us elevate banking to the next level,”
said Dr. Anders Bally, CEO and Co-founder of radicant.
Roi Tavor
“Today, financial institutions have a unique opportunity to create a truly personalized experience for their clients, by leveraging upon a wide range of new technologies and data-driven business models.

As a member of the UN’s “Race to Zero” alliance, we are thrilled to work with radicant in creating the first bank in Switzerland mainly built on Google Cloud and share their vision of a digital bank driven by clear sustainability goals and community principles.”
said Roi Tavor, Head of Financial Services in Switzerland at Google Cloud.

Featured image credit: Edited from Freepik
]]></description><link>https://fintechnews.eu/digital-bank-radicant-partners-with-google-cloud-for-scalability-and-agility</link><guid>2678</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Digital Bank radicant Partners With Google Cloud for Scalability and Agility</dc:text></item><item><title>Facebook Shares Ambitions for “Single Wallet Experience” Across the Metaverse</title><description><![CDATA[In a new blog post, Meta Platforms’ head of commerce and fintech, Stephane Kasriel gives a sneak peek of the company’s fintech ambitions in the metaverse, outlining its intent to bring forward a “single wallet experience” across its family of apps and platforms, as well as the need for interoperability between virtual environments.
Published on May 11, the blog post sheds light on Meta’s priorities in the fintech area, stressing that it will be putting a pause on expanding its payment business into new countries, focusing instead on improving its offerings in the countries it’s already in.
Reflective of its October 2021 rebrand, Kasriel says Meta’s payments service Facebook Pay will be rebranded to Meta Pay to align with the firm’s broader metaverse efforts and ambitions.


One area the company will be focusing on is enhancing and simplifying the payments experience across its platforms, an ambition that will take the form of establishing a “single payment experience,” Kasriel says.
While Meta is still in the very early stages of scoping out what a single wallet experience might look like, he says the company has nevertheless identified three key objectives: individuals and businesses should be able to use that one wallet to prove who they are and carry that identity into different experiences in the metaverse; they should be able to store the digital goods they own and take them wherever they go; and they should be able to pay easily and with the payment method they want wherever they are in the ecosystem.
The metaverse has the potential to be much more interoperable and portable than many online experiences available today, Kasriel says, allowing people to travel seamlessly between one part of the metaverse and another.
Practically speaking, this means that, if designed properly, people will be able to buy something inside one environment and use it in another. They will also be able to bring their avatar and identity across different worlds and environments.
For creators, interoperability and portability mean not be locked into islands of content, be able to have a relationship with fans irrespective of a specific platform, and being able to sell subscriptions or packages across all the different places where they want to show up.
Meta’s strive for interoperability is further evidenced by its involvement in Defining and Building the Metaverse, an initiative unveiled two weeks ago at the annual World Economic Forum (WEF) meeting.
Led by WEF, the multi-stakeholder network aims to provide guidance on how to build an ethical and inclusive metaverse. It focuses on two key areas: the governance of the metaverse and how the technologies and environments of the metaverse can be developed in safe, secure, interoperable and inclusive ways; as well as value creation and identifying the incentives and risks that businesses, individuals and society will encounter as the metaverse comes to life.
Other areas of focus
In addition to its payments ambitions, Kasriel says Meta will also be investing in so-called “messaging commerce,” or conversational commerce, an area which has picked up significantly since the beginning of the pandemic.
In Thailand, for example, Kasriel says entire businesses are now being run on WhatsApp and Messenger, a trend which has enticed the company to build and introduce new ways for people to ask questions about specific products, make purchases, and receive order confirmations, tracking numbers and delivery status updates in real-time — all within Messenger.
Finally, for content creators, Kasriel says Meta will continue its investments to help them monetize through features that streamline payouts and new products.
One recent development on this topic is the launch last month of Meta’s first non-fungible token (NFT) offering, a test of digital collectibles on Instagram. The feature allows a select group of US creators and collectors to share and showcase the non-fungible tokens (NFTs) they have created or bought on Instagram.
It includes a connection with a digital wallet, the ability to share and post-digital collectibles and their public information, as well as automatic tagging of both the creator and collector.
The feature only supported NFTs built on the Ethereum and Polygon blockchains at the launch but will expand to Flow and Solana shortly.
Kasriel says Meta will also be bringing the test to Facebook soon.
Beyond NFTs, Kasriel says there is a multitude of other Web3 tokens which Meta feels are compelling. These include social tokens, community tokens, governance tokens, as well as tokenized real-world assets.
Digital collectibles sharing and posts, Source: Instagram/Meta Platforms

Featured image credit: edited from Freepik
]]></description><link>https://fintechnews.eu/facebook-shares-ambitions-for-single-wallet-experience-across-the-metaverse</link><guid>2676</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Facebook Shares Ambitions for “Single Wallet Experience” Across the Metaverse</dc:text></item><item><title>A Look at Switzerland’s Booming Digital Asset Ecosystem</title><description><![CDATA[In recent years, Switzerland’s blockchain and digital asset ecosystem has matured rapidly and grown into one of the world’s leading blockchain hubs, a position that’s asserted by its expanding workforce and a rising number of foreign companies setting up operations locally.
A report by Home of Blockchain.swiss, a new public-private promotion initiative for the Swiss blockchain industry, looks at the state of the Swiss digital asset market, sharing findings from a survey of 47 industry participants to extract critical insights.
The report highlights Switzerland’s strength in the digital asset market, noting that several high-profile international digital asset startups have recently set foot in the country.


Swiss Digital Asset Market Report
FTX, a cryptocurrency exchange and derivatives trading platform valued US$32 billion, established its European headquarters in Switzerland earlier this year after acquiring local startup Digital Assets.
BitMEX, another crypto exchange and derivatives trading platform, announced in October 2021 its expansion into Switzerland, unveiling the forthcoming launch of a digital asset brokerage service called BitMEX Link. The company cited Switzerland’s status as a “regional hotspot for great talent,” its growing blockchain ecosystem and its advanced institutional framework as the main reasons why it chose the country to host its new office.
And Fireblocks, an institutional digital asset custody, transfer and settlement platform from New York, opened an office in Switzerland in September 2021 to expand its presence in the German, Austrian and Swiss (DACH) market and address the increase in demand from financial institutions.
In addition to international digital asset companies setting foot in Switzerland, the report also notes the increasing number of employees in the digital asset ecosystem, indicative of the sector’s growth and dynamism.
The 47 entities surveyed reported a total of 1,283 full-time equivalents (FTE) working fully in a digital asset related area. Including all other staff, a total of 3,930 people worked with the entities polled, as of late 2021.
An another strong indicator of the growth of the sector is the expanding digital asset offering by Swiss entities, ranging from token issuance and staking, to lending and non-fungible token (NFT) services.
Bitcoin Suisse, a provider of crypto-financial services, launched a native decentralized finance (DeFi) offering in April 2022, allowing select clients to access blockchain-based credit.
Last year, Swissquote, Switzerland’s largest online bank, shared with Finews.com ambitions to become “the leading Swiss provider of digital assets,” announcing plans to launch its own crypto exchange in 2022. The company also said it was looking to add more cryptocurrencies to its trading offering, in addition to stablecoins and staking services.
And Mt Pelerin, a regulated fintech company providing crypto brokerage services to retail and business clients, wallet services and asset tokenization services, teamed up with DeFi project Jarvis Network in July 2021 to introduce three new stablecoins tracking the price of the euro, British pound, and Swiss franc, and boost trading.
Booming digital asset trading activity
The rise of the Swiss digital asset market comes on the back of surging digital asset trading activities. In 2021, total crypto trading volume ballooned to CHF 103 billion, a drastic rise compared to previous years, a research by the Institute of Financial Services Zug IFZ and Swisscom shows.
Direct investments through crypto exchange platforms, like Binance and Bitstamp, led in terms of volume, with total investments through the 15 largest centralized exchanges amounting to an estimated CHF 92.6 billion between October 2020 and September 2021.
During the same period, indirect investment products, including exchange-traded products (ETPs) and structured products like tracker certificates and mini-futures, totaled roughly CHF 7 billion on the SIX Swiss Exchange.
Finally, investments through the 15 largest decentralized crypto exchanges, including Uniswap and Sushiswap, totaled nearly CHF 4 billion.
A recent report by PwC, in partnership with Finery Markets and Alternative Investment Management Association (AIMA), named Switzerland “the leading country in digital asset trading,” pointing out the stable and secure political environment, the country’s experience and reputation of a leading global financial center, and the robust legal framework, as the main enablers of Switzerland’s burgeoning digital asset ecosystem.
So far, the Swiss Financial Market Supervisory Authority (FINMA) has granted regulatory approval to at least four companies focusing on digital assets and cryptocurrencies: SEBA Bank and Sygnum Bank each hold a banking license; and Crypto Finance and Taurus both received their securities firm licenses in 2021.
In addition, FINMA has granted so-called Fintech Licenses to four entities since introducing the license category back in 2019: Klarpay, a banking offering targeted at digital entrepreneurs;  Mogli, a digital payment platform for small and medium-sized enterprises (SMEs); SR Saphirstein, a startup building a payment network between Europe and Asia; and Yapeal, a digital banking offering.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/a-look-at-switzerlands-booming-digital-asset-ecosystem</link><guid>2675</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>A Look at Switzerland’s Booming Digital Asset Ecosystem</dc:text></item><item><title>Comparis und Valuu gehen Kooperation ein</title><description><![CDATA[Comparis, der Online-Vergleichsdienst mit einem der grössten Marktplätze für Immobilien in der Schweiz, hat eine Kooperation mit Valuu unterzeichnet. Valuu ist die unabhängige Hypotheken-Vermittlungsplattform von PostFinance.
Immobiliensuchende finden auf dem Immobilienmarktplatz von comparis.ch per sofort neben dem entsprechenden Kaufobjekt auch Informationen zur möglichen Finanzierung. So werden potenzielle Käuferinnen und Käufer vom ersten Klick bis zum Abschluss ihrer Hypothek über einen einzigen Verkaufskanal begleitet. Die Kooperation ist vorerst auf ein Jahr beschränkt.
«Ermächtigen Immobilienkäufer bei ihrer Entscheidungsfindung»
Steven Neubauer
«Wir freuen uns sehr über diese Kooperation»,
sagt Comparis-CEO Steven Neubauer.


«Mit der direkten Integration des Services von Valuu in unser Immobilienangebot schaffen wir noch mehr Transparenz und unterstützen Immobilienkäuferinnen und -käufer bei ihrer Entscheidungsfindung.»
Thomas Jakob
«Valuu und Comparis verfolgen das gleiche Ziel: Den Leuten in der Schweiz mit transparenten Informationen zu helfen, die richtige Entscheidung in Finanzangelegenheiten zu treffen, und dabei am Ende Zeit und Geld zu sparen»,
sagt Thomas Jakob, Leiter Valuu von PostFinance, über die neue Partnerschaft mit Comparis.



Featured image credit: Unsplash
]]></description><link>https://fintechnews.eu/comparis-und-valuu-gehen-kooperation-ein</link><guid>2674</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Comparis und Valuu gehen Kooperation ein</dc:text></item><item><title>8 Financial Processes Poised for Digital Transformation</title><description><![CDATA[COVID-19 accelerated trends toward remote banking and digitalisation, forcing financial institutions to embrace new technologies and processes to keep their businesses functional despite social distancing restrictions.
Now, with more and more people relying on digital solutions for interactions and transactions, the industry is turning to the next set of challenges, actively seeking to reimagine customer journeys to not only differentiate themselves from competitors, but also capture new generations of tech-savvy customers.
In a new paper, cybersecurity technology firm OneSpan explores how e-signatures, digital identity verification and authentication technologies can unlock new opportunities for financial institutions, highlighting what it believes are the top eight financial processes poised for digital transformation.
1. Remote account opening and account maintenance
According to the paper, remote bank account opening has become a necessity for banks and financial institutions must offer remote onboarding that doesn’t require a customer to physically go into a branch to complete the process.
This trend is evidenced by the positive response financial institutions like Citi saw during the pandemic where new and existing corporate clients of the Citi Treasury and Trade Solutions (TTS) business opened more than 1,000 accounts online in March 2020 – a 300% increase over the previous year, the paper notes.
For OneSpan, the need to establish a digital onboarding solution is now paramount, and e-signatures and digital identity solutions will be critical for banks to implement such solutions.
Moreover, the report adds that financial institutions should look into any other related paper-based, in-person interactions that requires a signature and identity verification.
These processes can be adapted to online channels using e-forms, e-signatures, as well as digital identity tools, the report says.
2. Lending
In the lending space, e-signatures, e-forms, and digital processes can simplify and accelerate loan applications and finance contracts.
Not only that, the fact that all transactions are kept completely digital and that workflow rules are applied means that the risks associated with documents errors, such as missing signatures and data, are eliminated.
OneSpan advises firms to also put a focus on the mobile channels considering the momentum that mobile-first lending has gained over the past few years.
Against this backdrop, the firm recommends the use of two technologies: mobile e-signatures with digital audit trails, and mobile app shielding to protect it from cyberattacks.
image via Freepik
3. Residential mortgage
Although digitising the mortgage process has been a hot topic in the industry for the past decade, development has been slow.
But the pandemic has created renewed urgency to drive innovation, regulations, and adoption faster.
Moving forward, OneSpan expects to see greater adoption of the digital mortgage process, from applications to closings and remote online notarisation, building on the rise in usage of internet mortgages during COVID-19.
US Bancorp handled 80% of mortgage applications online from March to May 2020 in the US, reported American Banker in July 2020, showcasing how big the trend has become since the beginning of the pandemic.
4. Life insurance
In the life insurance space, COVID-19 has accelerated the need to digitise the paper-dependent industry.
This has fueled the adoption of e-signatures, which firms view as an immediate enabler for digital transactions that can be deployed instantly to agents as a standalone solution, or integrated with an agent portal, e-app, or core system.
According to the paper, these solutions are now being applied extensively in new business applications, but also in areas including e-disclosure delivery, agent licensing and appointment, e-policy delivery, and beneficiary changes.
5. Wealth management
In wealth management and private banking, rapid adoption of digital tools has allowed financial advisors to maintain relationships with their clients and deliver personalised service from home.
Moving forward, wealth management businesses must optimise their new remote processes and create a convenient, intuitive customer experience.
This should include using embracing e-signatures and digital identity verification to meet the services expectations of both new and existing clients and improve customer acquisition and retention, OneSpan says.
6. Corporate banking and treasury management
Commercial banking processes can be very complex, and oftentimes involve ad hoc, customised agreements and contracts that require signature authorisations and approvals for processes.
In the new normal, speed and convenience can make the difference for banks, allowing businesses to increase customer loyalty and retention.
Hence, financial institutions should not only focus on streamlining processes by leveraging technologies such as e-signatures, but also focus on modernising the corporate client experience by, for example, introducing mobile capabilities such as mobile apps, mobile authentication, and mobile app shielding, OneSpan says.
7. Auto finance and leasing
Increased competition, the shift to zero-emission vehicles, depressed margins, the pandemic and reduced sales have put pressure on the auto industry, subsequently affecting financial institutions and lenders involved in auto and equipment finance and leasing.
This environment has forced banks to look at ways to leverage technology to reduce costs and improve operating margins, turning their sights to technologies such as e-signatures and digital identity verification methods to help minimise contact during sales processes and reduce costly manual steps.
For OneSpan, three technologies in particular are worth being considered by auto and asset finance companies: automated document verification, where a photo of a document like a passport, a driver’s license or a national identity (ID) card is analysed by software to determine its authenticity; facial comparison with liveness detection, where a selfie of a customer is compared with the image on their passport or ID card, which can then be used for remote financing applications; and e-signatures, which can be utilised to capture the intent of the signer to be bound by the terms and conditions in a contract.
8. Employee processes
Finally, the eighth and last financial process that should be digitised, according to OneSpan, is employee processes.
With the risk of COVID-19 still lingering, the top priority for financial institutions remains to this day to maintain operations in a way that is safe for employees.
And one of the easiest way for them to protect both their employees returning to the office and those still working from home is by removing the need to manually handle paper, digitising paperwork and introducing e-signatures, the paper concludes.
The Beyond Business Continuity: The New Normal in Remote Banking and Insurance whitepaper by OneSpan can be accessed here.

]]></description><link>https://fintechnews.eu/8-financial-processes-poised-for-digital-transformation</link><guid>2673</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/lending-onespan-1024x687.jpeg?x30842</dc:content ><dc:text>8 Financial Processes Poised for Digital Transformation</dc:text></item><item><title>Zürcher Kantonalbank Set to Move Its Apps and Data to the Cloud With Microsoft</title><description><![CDATA[Zürcher Kantonalbank has announced that it will begin moving its applications and data to the public cloud in 2022 and the bank has chosen Microsoft Switzerland as its first cloud provider.
The move will not be done automatically; rather, each application will be weighed to determine if it is the right time to make the switch.
Security remains the most important priority for the bank going forward.


In the coming years, Zürcher Kantonalbank will move some of its IT applications and data to the cloud.
Remo Schmidli
In an interview with the IT trade publication “Computerworld”, Remo Schmidli, Head of IT, Operations &amp; Real Estate at Zürcher Kantonalbank said,
“Cloud technology has evolved greatly in recent years – from a niche product to what is now a mature overall solution.

Anyone who is seriously interested in IT today can no longer ignore the cloud. Because the cloud has really matured.”
According to Remo Schmidli, the benefits and potential drawbacks of the cloud were discussed intensively internally.
“In the end, the benefits clearly outweighed the drawbacks. Innovative power, scalability and time-to-market clearly spoke in favor of the move to the cloud. At the same time, we were and are not willing to make any compromises when it comes to security.

This imperative has previously applied when we signed a contract with a service provider, and it also holds true now when we work with a hyperscaler.”
The evaluation of private cloud technologies has also shown that Swiss providers are not able to fully compete with the large cloud providers in terms of innovation and investments, according to Schmidli, who has been responsible for IT as a member of the Executive Board of Zürcher Kantonalbank since 2019.
“We evaluated both Swiss companies and global hyperscalers – in the end, we chose Microsoft as the first provider.”
An important factor in the decision was Microsoft Switzerland’s local data centers, which have been up and running since 2019 and ensure data is stored in Switzerland.
Microsoft has data centers in the Geneva and Zurich regions, as well as the additional Azure Availability Zones now in operation.

]]></description><link>https://fintechnews.eu/zurcher-kantonalbank-set-to-move-its-apps-and-data-to-the-cloud-with-microsoft</link><guid>2672</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Zürcher Kantonalbank Set to Move Its Apps and Data to the Cloud With Microsoft</dc:text></item><item><title>Swiss Fintech Startup Numarics Secures Over CHF 2 Million</title><description><![CDATA[Following its successful product launch in September 2021, Swiss fintech startup Numarics has successfully closed a CHF 2.1 million pre-seed financing round led by Wingman Ventures.
Numarics combines artificial intelligence with expert knowledge from the fields of fiduciary services, audit and digitalization which gives SMEs access to state-of-the-art finance management. The success of Numarics’ mobile-first strategy was recently impressively confirmed: its app was awarded the GOLD award at the annual Best of Swiss App Awards. Now, two renowned venture capital funds have stepped in to finance the expansion of the team, product and sales efforts.
Wingman Ventures and co-investor SeedX know the Swiss ecosystem very well, where Numarics has launched as its first market.


Dominique Ray
“Both are ideal partners – while Wingman Ventures is known to be the first choice for Swiss founder teams at our stage, SeedX adds their impressive experience in the fintech sector to the round”
says Dominique Rey, Co-Founder and CEO of Numarics.
Kristian Kabashi
“Proximity to investors is important now,”
adds Kristian Kabashi, Co-founder of Numarics.
“Wingman and SeedX understand the enormous growth potential for a solution like ours in the European market”
says Kabashi. Numarics has already onboarded more than 200 paying customers since its launch in September 2021.
The investors were particularly convinced by the new category that Numarics is opening up in the area of fintech startups: From accounting to tax optimisation, numarics is the all-in-one solution SMEs can count on. Used by SMEs and accountants, Numarics eliminates the need to use different software for accounting, invoicing, document management and liquidity planning.
Volker Doberanzke
“We are working with highly specialized experts,”
explains Volker Doberanzke, Founding Partner and Chief Strategy Officer. This means we continue to invest in top trained trustees and auditors who make up the Numarics Operations team, which is available to Numarics users for individual advice and support.
“The human trust factor is very important,”
adds Rey. By the end of June, Numarics will have more than 50 employees.
The founding team of Numarics is composed of Dominique Rey, an experienced certified public accountant with years of experience at PricewaterhouseCoopers, Kristian Kabashi, a digital transformation expert with strong international ties, and founding partner Volker Doberanzke, a seasoned business leader with a finance background. Having grown the team to more than 50 employees, the three of them consider this financing round just another step towards their long-term vision of radically improving the financial management of small- and medium-sized businesses across Europe.

Featured image: from left to right – Kristian Kabashi, Dominique Rey, Volker Doberanzke
]]></description><link>https://fintechnews.eu/swiss-fintech-startup-numarics-secures-over-chf-2-million</link><guid>2665</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Swiss Fintech Startup Numarics Secures Over CHF 2 Million</dc:text></item><item><title>Worldline Enters the Metaverse</title><description><![CDATA[Worldline, a global leader in payment services is one of the first payments companies to enter the Metaverse with the launch of a dedicated virtual showroom.
The company aims to bridge the gap between the network of virtual worlds and the real world for e-Commerce enterprises and provide its merchants with the opportunities needed to benefit fully from the incredible potential the Metaverse has to offer.
The Worldline Metaverse showroom, which went live in March 2022, is a key component in Worldline’s strategy to build its presence in the Metaverse, which is seen as the next innovative social and commerce channel, and that will become more and more popular with the development of Web 3.0. The Worldline showroom is located in Decentraland in the Crypto Valley area. This very popular and central location will enable Worldline to involve and engage its network of merchants in Metaverse activities by providing a platform and creating genuine value and customer exposure for them.


The success of building the Metaverse depends on a robust and flexible payment ecosystem that allows users to seamlessly access payment means in the physical and virtual world. Following the launch of its showroom, Worldline will continue to invest and allocate significant resources to the development and distribution of additional Metaverse-related products specifically tailored to meet the needs of merchants wishing to enter and thrive within 3D virtual worlds. For example, Metaverse white label stores are being designed for merchants and will include direct payment connections to Worldline Acquiring and all payment options offered in Worldline’s payment means portfolio, allowing for the seamless and secure blending of the real and virtual payment environment.
The Worldline Metaverse showroom currently includes a number of key innovative features such as:

A merchant of the month area, placed at the core of Worldline’s virtual land introducing a merchant with a new product.
The product can then be purchased directly via the Worldline payment engine.
A coffee space powered by PAYONE, Worldline’s Joint Venture with the German Sparkassen-Finanzgruppe (DSV) and leading brand in merchant services in Germany and Austria. This area will facilitate more social interaction and informal meetings between users, Worldline representatives and merchants.
A virtual stage for events with a space to host virtual product presentations and share knowledge with Decentraland users.
Supporting charity projects, beginning with support for Ukraine via a well-known charity organizations. Social responsibility is a core focus for Worldline, hence the importance of assisting those in need.

The Metaverse clearly offers a completely new perspective for merchants and their customers. The solution developed by Worldline and its crypto processing partner Bitcoin Suisse aims to facilitate the merchants’ immersion in a new and exciting space. For example, goods and services can only be purchased in the Metaverse with the Metaverse provider’s own cryptocurrency. The Worldline Metaverse showroom enables end consumers to purchase goods and services, with or without owning cryptocurrencies themselves. With that, the solution provides an easier and more streamlined shopping experience, to the benefit of both Worldline’s merchant base and their customers.
Sascha Muenger
Sascha Muenger, Metaverse Expert at Worldline, says
“Technological innovation is an essential part of Worldline’s DNA. The Metaverse, and Web 3.0 overall, is without doubt the next step in the development of the Internet and it is vital for us to make sure we harness the opportunities this virtual world will bring. Our plans also involve facilitating access for our merchant base and customers and providing a secure and seamless payment process in the Metaverse.”

Strategic opportunities ahead – for Worldline and its merchant customers
The Internet, or web 2.0 as we know it today, is the main entry point for millions of people to access information and services, communicate and socialise, and sell goods. The Metaverse – associated with the development of web 3.0 – is expected to replicate the value proposition of the Internet itself, whilst crucially adding a three-dimensional, immersive layer.
The Metaverse will challenge and overcome various boundaries in e-Commerce scenarios. It will enable consumers to engage with virtual community shopping from any location worldwide whilst benefiting from embedded virtual checkout processes. This new virtual shopping experience has the potential to democratise access to goods and services based on an entirely new approach
As a key player in the payments sector, Worldline will leverage this new innovative commerce channel for its merchant base, helping to bridge the gap between the Metaverse and the real world, thereby showing the capabilities of the web 3.0 technology around 3D virtual worlds. Ultimately, Worldline aims to position itself as a provider of choice for Metaverse commerce and payment use cases.

Featured image credit: Freepik
]]></description><link>https://fintechnews.eu/worldline-enters-the-metaverse</link><guid>2666</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Worldline Enters the Metaverse</dc:text></item><item><title>Switzerland Attracts More Blockchain Firms Despite Crypto Meltdown</title><description><![CDATA[Global leaders were treated to a crypto charm offensive at the World Economic Forum in Davos last week. Finance Minister Ueli Maurer and Switzerland Global Enterprise, which is responsible for attracting business, took the opportunity to roll out the red carpet for foreign blockchain companies.
Competition for crypto business is intensifying among countries. The United Arab Emirates, for example, is busy handing out financial licenses while Dubai’s free zone has thrown open its doors to footloose crypto firms. The world’s largest crypto exchange, Binance, has been given regulatory approval to operate in France.
As I reported in March, Lugano has partnered with the stablecoin Tether to turn the southern Swiss city into the “European Capital of Crypto”. Switzerland is eager to further swell its ranks of more than 1,000 blockchain enterprises and 6,000 jobs.


According to the recently published Swiss Digital Asset Report, another two global heavyweights, Copper.co and Bitpanda are opening operations in Switzerland. This follows the recent arrival of BitMEX and the FTX crypto exchange.
The London-headquartered Copper.co has indeed confirmed its entrance to Crypto Nation Switzerland. It already has an office in Zug with ’a handful’ of staff who have been setting up the business.
But the company, which helps institutional investors venture into digital asset trading, has now been given the regulatory green light to launch full operations.
Copper.co announced today that it has joined the Self-Regulatory Organisation VQF. Swiss SROs act as a staging post between financial firms and the Swiss Financial Market Supervisory Authority (Finma). SROs set Anti-Money Laundering standards and monitor their members’ compliance. The SRO as an entity answers to Finma as opposed to its individual member companies reporting directly to the regulator.
Many digital assets financial companies in Switzerland are registered with one of Switzerland’s 11 SROs. Financial intermediaries are obliged to either submit to direct Finma regulation or join an SRO to carry out their business in Switzerland.
Joining the dots
Copper.co is one of a growing number of firms that are building the plumbing to connect asset managers and hedge funds with cryptocurrency exchanges and the world of decentralised finance (DeFi). It’s recognised as one of the world’s leading venues for institutional investors to deposit funds securely and settle trading positions.
Dmitry Tokarev
“Switzerland, as a pioneer location for digital assets, provides an ideal foothold from which to grow our mainland European presence,”
said Copper.co CEO Dmitry Tokarev. But it’s unclear at this stage exactly what expansion plans to company has in Switzerland.
It’s also unclear to me how the digital assets sector, and particularly DeFi, will recover from the recent carnage inflicted by collapse of the Terra stablecoin (UST).
Earlier this month, the so-called ‘reign of Terra’ sent the entire cryptocurrency market into a tailspin, wiping tens of billions from the value of bitcoin and every other cryptocurrency. UST was supposed to provide stability to the DeFi trading markets – it failed in spectacular fashion. Many investors lost a lot of money, and it might take a while before they summon up the courage to re-enter this volatile sector.
I’ll be exploring this theme in greater depth – and what it means for the Swiss crypto scene – during the Crypto Valley Association annual conference later this week.
]]></description><link>https://fintechnews.eu/switzerland-attracts-more-blockchain-firms-despite-crypto-meltdown</link><guid>2667</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Switzerland Attracts More Blockchain Firms Despite Crypto Meltdown</dc:text></item><item><title>Here Are 13 Startups Selected for F10’s Latest Accelerator Cohort</title><description><![CDATA[F10 announced that 13 growth-stage fintech and insurtech startups have been selected for its spring 2022 cohort from 300 applications globally to join its open innovation accelerator at its Zurich and Singapore hubs.
The goal of this programme is to facilitate collaboration between selected startups with F10 corporate partners.
The scouting and eventual selection of the startups was done in close collaboration with F10 corporate partners at each hub that had launched open innovation challenges earlier this year.


The programme itself is aimed towards developing successful collaborations, implemented via a 360 degree startup analysis, an in-depth collaboration playbook facilitated by a dedicated F10 coach, and regular knowledge and experience exchange between participating startups and the corporate partners.
F10 Switzerland Acceleration Batch IV
Three of the F10 Switzerland’s corporate partners – SIX bLink, Julius Baer, Generali HITS – had published challenges to address their business needs.
1. WealthTech Challenge by SIX bLink
Startups who provide market-ready products or services that can be integrated into wealth and asset management applications via API.
Selected startups:

Lookthrough

Lookthrough produces ESG reports for real estate without the necessity of onsite visits, making ESG compliance scalable and affordable for landlords.

Kaspar&amp;

Kaspar&amp; enables banks to increase the value of their existing client base by offering an innovative approach to transform retail clients into wealth management customers with every payment they make.

aisot

aisot is turning data into performance for wealth and asset managers, maximizing performance while minimizing volatility. aisot’s proprietary and cloud- based artificial intelligence engine, aisot AI alpha PLT, accessible through API, creates insights for clearly defined use cases and time horizons, bridging the last mile in data-driven decision making.

Kidbrooke

Kidbrooke helps financial institutions such as banks, wealth managers and insurance companies provide engaging, seamless, and affordable financial advice allowing everyone to make educated financial decisions for their future.

2. Sustainable Finance Challenge by Julius Baer
Startups with solutions in sustainable investing to integrate climate and sustainability considerations.
Selected startups:

Datia

Datia is a data platform for sustainable finance, working with forward thinking financial institutions automating their ESG workflows. Datia customers use Datia for ESG data collection &amp; analysis, screen portfolios, model ESG preferences and automate ESG, SFDR &amp; EU Taxonomy reporting.

impak Finance

impak is a growing French-Canadian scale-up whose mission is to help investors and lenders make more sustainable decisions by providing them with assessments that go beyond ESG and include both the negative and positive impacts of their assets.

Matter

Matter offers investors an alternative to traditional ESG ratings. By utilising cutting-edge technologies, the company harnesses wisdom-of the crowd data from hundreds of different sources, organises them into different datasets, and make these available to clients via intuitive interfaces and APIs for portfolio analysis and reporting.

3. Financial Wellbeing and Insurance Distribution Challenges by Generali HITS
Startups that help to improve the financial well-being of insurance customers and enhance life customers’ experience. Additionally, startups that help insurance agents to become “super agents”, by providing digital tools and services that augment their work.
Selected startups:

Omma

Omma VQ is an interactive, dynamic video platform, which provides the opportunity to communicate with different target audiences with personalized content through a video in real time.

3rd-eyes analytics

3rd-eyes-analytics offers modular solutions that improve, automate, and visualise wealth planning. The solutions incorporate climate change scenarios while optimisations against investment or insurance products maximise goal achievement.

Tontine Trust

The OECD has passed Legal Instrument 0467 to mandatorily change existing DC pensions to offer lifetime incomes using ‘tontines’ or annuities. The OECD favours tontines over annuities because they enable higher levels of retirement income than annuities.

distriBind

distriBind is using Machine Learning and Automation to cure the insurance industry of its spreadsheet addiction.

bsurance

As an Embedded Insurance market leader we enable access to a huge market opportunity and bring fair and relevant coverage to consumers where and when it matters: At the point-of-need.

Startups selected for this accelerator will gain life-time access to the F10 Startup Services – flexible, on-demand content spanning the F10 Academy, online learning and peer to peer exchange based on startups’ needs, the F10 mentor programme offering access to a network of more than 250 mentors across all hubs, as well as the F10 Investor Introduction Service.
F10 Singapore Acceleration
F10 Singapore corporate partner, SIX Financial Information Singapore has also published the following challenge to address their business needs.
1. Regtech Challenge
Startups that understand regulatory implications (sanctions, shareholding disclosure, tax, esg etc.) for pre- or post-trade solutions.
Selected startup:
Investment Navigator

Investment Navigator is the product distribution experts for financial institutions ensuring that they can bring the right products to the right clients at the right time in the right way.
]]></description><link>https://fintechnews.eu/here-are-13-startups-selected-for-f10s-latest-accelerator-cohort</link><guid>2668</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>Here Are 13 Startups Selected for F10’s Latest Accelerator Cohort</dc:text></item><item><title>BNPL Player Zoodpay Expands to Pakistan With Acquisition of Tez Financial Services</title><description><![CDATA[ZoodPay, a Swiss-based buy now, pay later (BNPL) platform for e-commerce customers in the Middle East and Central Asia, has made its entry into Pakistan by fully acquiring the Karachi-headquartered Tez Financial Services.
Tez was granted a Non-Bank Financial Company (NBFC) license in 2018 and is backed by investors including Planet N, Flourish Ventures and Accion.
It has since provided micro-loans to the unbanked and underbanked masses across 160+ cities in Pakistan.


Michael Khoi
Michael Khoi, CEO of ZoodPay said,
“Pakistan is a market brimming with potential given the number of people seeking access to credit facilities.

We’re confident that by combining ZoodPay’s unique ecosystem and experience operating in frontier markets with Tez’s local know-how, strong team and ecosystem partnerships, we’ll be able to positively impact the life of Pakistani people and empower them by giving them access to easy, affordable and reliable digital financial services”
Nadeem Hussain, Chairman of Tez said,
“The Pakistani startup ecosystem has hit its inflection point. In addition to sizable fundraises, acquisitions of local players by international players are starting to take place.

This further validates the global value Pakistani startups are creating. Planet N was one of the first in the market to invest in startups. We are now seeing the first-mover advantage.”

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/bnpl-player-zoodpay-expands-to-pakistan-with-acquisition-of-tez-financial-services</link><guid>2669</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>BNPL Player Zoodpay Expands to Pakistan With Acquisition of Tez Financial Services</dc:text></item><item><title>New World Bank Report Looks at the Rise of Fintech</title><description><![CDATA[Technology-enabled innovation is reshaping financial products, market players, market structure and even money itself, removing key frictions in the provision of financial services, enabling new business models and allowing market participants to reach previously underserved segments at lower costs.
But while the ongoing digitalization of the financial system is creating unprecedented opportunities for the industry to offer more inclusive and efficient services, it also calls for new approaches to regulation and supervision, and requires heightened collaboration between public authorities across data protection, privacy, and competition.
These are the recommendations formulated in a new report by the World Bank Group. The paper, titled Fintech and Future of Finance paper, explores the rise of fintech and the digital transformation of financial services, delving into the various policy implications of these emerging trends.


According to the report, to harness the full potential of fintech, regulators should implement policies that enable and encourage safe financial innovation and adoption. Given the rapid spread of innovation, they should adopt an approach that’s proactive, pragmatic, clear, and collaborative with public and private stakeholders. This is particularly critical considering that new fintech innovations are emerging at an accelerated pace and because fintech issues oftentimes cut across financial prudential supervisors, market conduct and competition authorities, and consumer protection agencies.
But while, fintech innovation creates promising opportunities, including improved financial inclusion and efficiency gains, it also introduces an array of risks which must be mitigated.
This calls for proper safeguards to, among others, maintain fair competition, financial stability, ensure data and consumer protection, and prevent the abuse of market power, the report says.
Data collection principles and proactive monitoring of market conduct, frameworks for open banking and data ownership, initiatives to foster development of financial infrastructure and fair and transparent access to them, and revisiting any restriction on product tying and linkages between banking and commerce, are among the critical issues regulators should consider.
A well-balanced fintech regulatory landscape is ever so important today as trends like open finance and embedded finance are rapidly gaining ground and blurring the boundaries of the financial sector.
These trends are leading to a more complex constellation of traditional regulated institutions, technology and product providers, forcing regulators to broaden the monitoring horizons and re-assess regulatory perimeters.
Booming fintech industry
These past few years have seen fintech and digital transformation increase in importance, a trend that accelerated with COVID-19.
As part of the research, the World Bank Group conducted a global survey, polling 330 market participants from 109 countries to capture market perceptions of the impact of fintech and digital technology.
The study found that, of the 330 respondents surveyed, more than 80% felt that the COVID-19 pandemic increased the need for fintech and digital transformation and made digitization in customer channels, product adaptation, and internal processes a strategic priority.
Need for digital transformation due to COVID-19, Source: World Bank Group (based on responses to the Digital Technology and the Future of Finance Survey 2020)
Industry participants indicated expecting fintech and digital transformation to result in a range of benefits to customers, providers and the economy. Over the next five years, key benefits that respondents believed will be realized to a “great degree” include improved customer experience (74%), increased innovation (73%), improved product design to meet user needs (67%) and increased accessibility and outreach to new customers (62%).
The degree to which certain benefits of fintech and digital transformation are expected to be realized in the next 5 years, Source: World Bank Group (based on responses to the Digital Technology and the Future of Finance Survey 2020)
The survey also sought to understand market participants’ predictions for the years to come. While products, processes and channels will undeniably continue digitizing, respondents were in agreement that a combination of physical and digital will prevail.
Half of banks and remittance operators, and 60% of microfinance institutions, non-bank financial institutions (NBFIs), and payments operators, expect business to be conducted largely through physical locations. Banks, meanwhile, expect to continue serving customers through branches and proprietary digital channels.
Respondents were also asked about their biggest concerns relating to the rapid adoption of technology and digital tools. Unsurprisingly, respondents ranked operational and cybersecurity risk at the top of the list, followed by data protection and privacy, and third-party service providers.
Risk perception of respondents, Source: World Bank Group (based on responses to the Digital Technology and the Future of Finance Survey 2020)

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/new-world-bank-report-looks-at-the-rise-of-fintech</link><guid>2670</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>New World Bank Report Looks at the Rise of Fintech</dc:text></item><item><title>CAT Financial Products Issues Financial Products with Fintech Influencer</title><description><![CDATA[Spiros Margaris is the world’s No.1 fintech influencer and has been a successful investor in the fintech industry for many years. In a partnership with CAT Financial Products AG (CATFP), he gives investors the chance to invest diversified and in a simple way in the global Fintech companies that not only have huge growth potential in the future, but also a stable and solid business model.
Fintech companies are changing the financial industry towards more digitalization with their simple and digital customer solutions. Internal workflows and processes are also being digitized, automated and made more efficient thanks to artificial intelligence and machine learning. In recent years, many young companies have come into this sector and gone public. Traditional banks and technology companies have also invested heavily in these areas. As the market has grown extremely fast during this time, it is becoming more and more difficult to select companies that will not only shape the future of this industry, but also demonstrate strong and robust business models. In addition, there is the need to identify relevant partnerships between established companies and start-ups at an early stage and to identify potential acquisitions in this sector.
Swiss-born Spiros Margaris is in various ranking listed as the number one global fintech influencer. He is actively shaping the global industry and has insights into the largest fintechs, banks and Silicon Valley companies that are being called the future of finance. He is the founder of Margaris Ventures and has been active in the fintech industry since its inception. Two of his mandates at startups now have a market valuation of more than $1 billion, making them so-called unicorns.


The new investment product on the “Margaris No.1 Fintech Value Basket” now offers investors access to his insights into this industry and his global industry network. Together with CATFP’s product specialists, Spiros Margaris selects a range of around 25 global companies with an impact on the fintech industry, which not only have massive growth potential in the future, but also a strong and robust business model to succeed even in a difficult macroeconomic environment. In this context, the investment style as well as the investment ratio can be adjusted to the general market and macroeconomic conditions.
On June 01, 2022, Spiros Margaris will give an outlook on the future of the Fintech industry as a keynote speaker at the CAT Investors Day and officially present the new investment solution:
Spiros Margaris
«I believe strongly that the great fintech opportunities are still ahead of us since the embedded finance trend will further open up competition and opportunities. We haven’t seen anything yet, just that the low-hanging fruits have been picked up. Now starts the real disruption of the financial service industry.»
Spiros Margaris continues:
“After my successful investments in a number of fintech start-ups, launching such an investment solution for the Swiss financial industry was the next logical step. With CATFP, I have one of the best partners at my side for this. I am excited about the expertise, professionalism and creativity. It fits my personality.”
Roman Przibylla
Roman Przibylla, Partner and Chief Distribution Officer of CATFP, is also looking forward to the cooperation:
“I am proud that with this investment solution we can give our clients access to one of the most successful fintech investors in Switzerland. Spiros Margaris is not only a proven expert in Fintech but also in Insurtech, Blockchain and Artificial Intelligence. He is a visionary who is at home all over the world and still has never forgotten his Swiss roots.”
]]></description><link>https://fintechnews.eu/cat-financial-products-issues-financial-products-with-fintech-influencer</link><guid>2664</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Onespan-Banner_600x500.png?x30842</dc:content ><dc:text>CAT Financial Products Issues Financial Products with Fintech Influencer</dc:text></item><item><title>LevelField Selects METACO to Launch Digital Asset Management Capabilities on IBM Cloud</title><description><![CDATA[LevelField Financial, the premier U.S. financial services firm uniting digital assets and traditional banking services in one trusted platform has selected Switzerland-based METACO, a specialist of digital asset custody orchestration technology to complex, global financial institutions. LevelField is deploying its institutional digital asset management operations on IBM Cloud in order to leverage the confidential computing capabilities of IBM’s digital asset infrastructure.
Founded by banking executives with decades of global experience, LevelField is in the process of acquiring a federally chartered bank in the United States. To launch its digital asset offering, LevelField will use METACO’s digital asset custody and orchestration platform, Harmonize, helping enable clients to securely store, trade, and settle digital assets. Harmonize was built in partnership with Tier 1 banks and offers the highest standards of security and compliance for LevelField to operate in the digital assets sector. This foundational infrastructure provides LevelField with the option to further expand its digital asset offering in the future, in a highly-scalable and efficient manner.
LevelField will deploy Harmonize, which is supported by IBM Cloud Hyper Protect Services. This setup will allow LevelField to scale to millions of wallets, while maintaining control over private keys for risk management. IBM’s Digital Asset Infrastructure is designed to help custodians achieve greater results when using METACO’s Harmonize platform, including enhanced scalability, security, and compliance.


IBM Cloud Hyper Protect Crypto Services is designed to enable METACO Vaults to store encrypted keys externally in a database while affording the protections of IBM’s FIPS 140-2 Level 4 rated hardware security modules (HSM). With external storage of keys enabled by IBM’s master encryption key technology, custodians can scale to billions of wallets. The sensitive processing on METACO Harmonize is secured by IBM Cloud Hyper Protect Virtual Servers hardware-based, Common Criteria-certified isolation. IBM Cloud Hyper Protect Secure Build Server is designed to reduce risks of malicious code insertion during Harmonize deployments and address unauthorized rule manipulation by working to make policies on the platform tamper proof. Irrespective of how Harmonize is consumed, custodians retain physical control of the root of trust of the assets and the policies that govern management of the assets, through the IBM HSM Smartcards.
Seamus Donoghue
Seamus Donoghue, VP of Strategic Alliances at METACO commented,
“We’re pleased to support LevelField in realizing its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future. Harmonize provides bank-grade security and compliance for the custody and management of digital assets, as well as the agility for innovative firms like LevelField to go-to-market and scale quickly. With a flexible governance policy framework that can be applied to any type of digital asset transaction, a no-single-point-of-failure model, and the optionality to expand and offer any type of digital asset services, Harmonize provides a highly secure and flexible foundation for LevelField to manage its digital asset operations, both today and well into the future.”
Established in Houston in 2018, and currently pending a banking charter, LevelField aims to blend digital banking, securities, and digital assets to provide a comprehensive banking service for the digital economy. The firm is building a customer- focused financial services platform for digital and traditional assets that leverages the strengths of the U.S. banking system, is built on a solid foundation of regulatory compliance, and draws on its management team’s expertise across traditional banking.
Michael Clayton
Michael Clayton, CTO, LevelField, commented,
“LevelField is comprised of career bankers who deeply understand the importance of compliance and security. We searched for the platform that would enable us to meet our rigorous standards for security and compliance, while also giving us the flexibility to grow our digital asset business in any direction. METACO’s Harmonize orchestration platform, supported by IBM Cloud Hyper Protect Services, is the ideal solution and something which may become the gold-standard in the industry. This infrastructure enables us to demonstrate our compliance and the highest levels of security no matter what area of digital assets we expand into.”
METACO, the leading technology provider in the digital asset ecosystem, has significant implementations with Tier 1 banks, exchanges and other financial institutions. Its platform, Harmonize, delivers the most secure, compliant and flexible custody solution in the market, in combination with the end-to-end, secure orchestration of workflows and governance processes across the entire digital asset stack, with no single point of compromise.

Featured image credit: Edited from Unsplash
]]></description><link>https://fintechnews.eu/levelfield-selects-metaco-to-launch-digital-asset-management-capabilities-on-ibm-cloud</link><guid>2660</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/OneSpan-May-2022.jpg?x30842</dc:content ><dc:text>LevelField Selects METACO to Launch Digital Asset Management Capabilities on IBM Cloud</dc:text></item><item><title>Huobi Global Steps up Latin America Presence With Bitex Acquisition</title><description><![CDATA[Huobi Global announced the acquisition of Bitex, one of the first regional cryptocurrency exchanges in Latin America, as it moves to expand its footprint in the fast-growing region. The terms of the deal are confidential and were not disclosed.
Founded in 2014, Bitex has an extensive network in Argentina, Chile, Paraguay, and Uruguay. Huobi Global plans to integrate Bitex’s exchange operations with Huobi Global’s platform, enabling users in Latin America to trade all digital assets available on Huobi Global. Post-integration, Bitex will retain its branding and continue to be independently run by its current management team.
With a population of nearly 665 million, Latin America ranks fifth in the world for cryptocurrency adoption and consistently captures between 8% and 10% of global cryptocurrency activity. The region saw the use of cryptocurrencies rise by 1,370% from 2019 to 2021, with Venezuela and Argentina ranking seventh and tenth, respectively, in the 2021 Global Crypto Adoption Index published by Chainalysis.
Jeffrey Ma
&#8220;Since Huobi Group first entered the Latin American market, we have seen remarkable growth there and are bullish on our prospects for the region. We are pleased to partner with an established player like Bitex, as we look to grow our footprint in Latin America. Our partnership will enable more users to trade with Huobi’s proven security, liquidity, and stability,”
said Jeffrey Ma, Global Head of M&amp;A at Huobi Group.
Currently, only about half of Latin American’s population own bank accounts. Through this acquisition, Huobi Global hopes to meet this growing appetite for alternative financial services through blockchain technology. We intend to add more local fiat currencies and work with local partners to expand our ecosystem into Latin America.
Francisco Buero
Bitex CEO Francisco Buero said:
“Bitex was founded to protect the value of our users’ money, in the wake of major financial crises in Latin America. Having grown rapidly after eight years of successful operations, we believe our partnership with Huobi Global will not only support our expansion, but also help us better serve our customers, enabling them to access a broader range of digital assets on Huobi Global’s platform. Additionally, Huobi Global’s strong track record in security will help safeguard our important mission as we continue to operate as a borderless exchange.”
Huobi Group marked its first foray into Latin America with the launch of Huobi Argentina in 2019, drawn by the increasing demand for crypto-related products and services in the market. In 2020, Huobi Argentina introduced fiat-to-crypto pairing between the Argentine Peso and both Bitcoin (BTC) and Tether (USDT). Last year, it also added five payment methods to improve users’ trading experience and increase the liquidity of its market.

The post Huobi Global Steps up Latin America Presence With Bitex Acquisition appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/huobi-global-steps-up-latin-america-presence-with-bitex-acquisition</link><guid>2661</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>Huobi Global Steps up Latin America Presence With Bitex Acquisition</dc:text></item><item><title>Swiss Banks Slow to Embrace Open Banking</title><description><![CDATA[In Switzerland, banks and financial institutions have been slow in embracing the open banking movement, a delay that can partly explained by institutions’ conservative corporate culture as well as an overarching fear of losing customers to third parties.
These are some of the findings drawn from a study conducted by the Institute of Financial Services Zug IFZ of the Lucerne School of Business, which sought to understand the banking sector’s views on open banking, determine the roadblocks to adoption, and identify the progress made so far.
The study, which is based on interviews with experts from banks, insurance companies and fintechs and desk research, identified a prevalent belief that opening up channels to fintech startups and other third parties will pose a risk to their business. Almost unanimously, the banks pointed out during the interviews that one of their central strategic goals was to “keep” the customer interface.
Another key roadblock to open banking adoption identified is the fear of change. This resistance often come from employees wanting to protect themselves from the unknown or imagined outcomes of change, as well as from the potential of losing their jobs. Hence, most prefer to stick to the “tried-and-tested” approach, the report says.
In addition to these challenges, the study found that many Swiss banks’ leadership still underestimate the importance of open banking, viewing the trend as a computer science issue rather than a critical strategic priority.
When asked about the driving forces behind their open banking efforts, 66% of 35 retail banks polled indicated their IT department. Management came second at 63%, sales units came fourth at 9%, and the board of directors/council came last at only 6%.
The driving forces behind Swiss bank’s open banking efforts, Source: IFZ Open Banking Studie 2022
Progresses being made
Despite these hurdles, the report notes that progress is being made. The survey of retail banks found that 17% already have open APIs in place. Of those that don’t, 63% shared plans to set up capabilities to connect with third parties.
Has your bank opened up to third-party provider using open interfaces (APIs) or is planning to? Source: IFZ Open Banking Studie 2022
The report notes that discrepancies exist between retail banks, with some, including Valiant, UBS or Hypothekarbank Lenzburg, emerging as early adopters. Others, meanwhile, just started looking into open banking recently.
Respondents were also asked in which areas they will be using open banking solutions within the next three years. The results show a broad range of new products and services Swiss retail banks are planning to introduce over the next few years by leveraging the capabilities brought about open banking.
The top five open banking use cases at Swiss retail banks are payments and embedded payments (77%), multibanking services for small and medium-sized enterprises (SMEs) (51%), connection to online accounting software (46%), multibanking services for private customers (37%), connection to online mortgage brokers (31%) and connection to external asset managers (26%).
Areas where banks expect to use open banking in the next three years, Source: IFZ Open Banking Studie 2022
Unlike the European Union (EU) and the UK where open banking is mandated by regulations like PSD2 and the Open Banking Standard, open banking development in Switzerland has been market-driven.
Despite having no formal or compulsory open banking regime in place, the Swiss market has seen promising developments in the field. For example, trade association Swiss Fintech Innovations (SFTI) is working with the industry to develop the so-called Common API Specification for Finance, a set of API standards and specifications for the industry to obey by to enable uniformity and consistency.
Efforts to advance open banking adoption in Switzerland comes at a time when consumers are warming up to the concept.
A 2021 survey conducted by MasterCard found that, although just a few consumers knew what open banking was, consumers showed strong interest in the use cases and opportunities the trend brings.
The research, which polled more than 1,000 consumers from Switzerland in April 2021, found that of those who had not heard of open banking before, 14% showed interest after being provided a generic definition, a level that increased significantly (52%) when consumers were given explanations of real use cases of open banking.
Not only that, but 49% of respondents said that they would be willing to change their primary bank or add a new banking relationship to benefit from at least one open banking-enabled service.
 
Featured image credit: Edited from Unsplash
The post Swiss Banks Slow to Embrace Open Banking appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/swiss-banks-slow-to-embrace-open-banking</link><guid>2662</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/The-driving-forces-behind-Swiss-banks-open-banking-efforts-Source-IFZ-Open-Banking-Studie-2022.png?x30842</dc:content ><dc:text>Swiss Banks Slow to Embrace Open Banking</dc:text></item><item><title>Polytech Ventures, Fusion Partners Raise CHF 11 Million to Build Next-Gen Swiss Startups</title><description><![CDATA[Swiss investment company Polytech Ventures Holding and Fusion Partners, a corporate venturing organisation in French-speaking Switzerland, have raised CHF 11 million to develop its independent Swiss &#8220;startups studio&#8221; named Webuild Ventures.
The entities said in a statement that they aim to build the next generation of Swiss startups in the real estate, mobility, financial services and insurance sectors.
With a strong track record in venture building, Fusion Partners will be the operational arm of the initiative, providing startups with operational support, execution power, access to its network and dedicated infrastructure.
Alain Nicod and Sébastien Lamunière have joined the board of directors of WeBuild Ventures, alongside its Founder and CEO, Guillaume Dubray.
Guillaume Dubray
“This is both a recognition of our model&#8217;s performance and of the dynamism of innovation in Switzerland, which still has a lot to offer. More and more deals are carried out in Switzerland by the largest American venture capital funds.
 
WeBuild Ventures, our startup studio, offers Swiss entrepreneurs a unique support to help innovation champions emerge. Over the last 15 years I have seen many potential entrepreneurs miss out for the wrong reasons: the WeBuild model removes the last obstacles to entrepreneurial ambition. There is no longer any reason why you shouldn&#8217;t take the plunge and conquer Switzerland.”
said Guillaume Dubray.
The post Polytech Ventures, Fusion Partners Raise CHF 11 Million to Build Next-Gen Swiss Startups appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/polytech-ventures-fusion-partners-raise-chf-11-million-to-build-next-gen-swiss-startups</link><guid>2663</guid><author>Administrator</author><dc:content /><dc:text>Polytech Ventures, Fusion Partners Raise CHF 11 Million to Build Next-Gen Swiss Startups</dc:text></item><item><title>Irish B2B Payment Provider TransferMate is now a Fintech Unicorn</title><description><![CDATA[TransferMate, a leading provider of B2B payments infrastructure as-a-service, announced a $70M funding round bringing the company to a valuation of $1BN and $130M of total funding. Railpen, one of the largest UK pension funds, managing £37 billion, participated in the round.
TransferMate has grown its global licensing infrastructure and banking network to be one of the widest in the industry and has been chosen as the partner of choice to power B2B payments products for some of the largest software platforms, innovative banks and Fintechs in the world. This funding round which consists entirely of primary capital will be used to expand its teams globally and further invest in its technology innovation and product suite.
Terry Clune
&#8220;We are delighted to welcome Railpen as a shareholder at this exciting time,”
said Terry Clune, TransferMate’s Founder.
“By combining our technology and our global licence network, we empower software providers, banks and fintechs to deliver payments dramatically faster &amp; cheaper than the traditional SWIFT system. We will use this investment to continue to recruit senior financial talent who can help broaden our customer base.”
Sinead Fitzmaurice
&#8220;Since the very beginning we have been on a mission to set new standards in how businesses make and receive international payments. Our commitment to deliver real-time transparency and speed when businesses are conducting cross border payments has resulted in TransferMate becoming the global B2B payments infrastructure of choice for the world’s leading procure-to-pay and spend management platforms,”
said Sinead Fitzmaurice, CEO of TransferMate. &#8220;This investment will allow us to accelerate our mission to drive innovation as businesses seek to digitise their B2B payments within the core software that they use to conduct their day-to-day activities.”
This new round of investment together with the $1BN valuation further sets TransferMate apart as the world’s most comprehensive independent B2B payments network. It allows businesses and individuals to make cross-border payments in more than 201 countries and 141 currencies, as easily and cost-effectively as if making a domestic funds transfer, and with complete transparency of the transaction through to the point of final reconciliation.
The funding round was managed by Barclays Bank PLC, acting through its investment bank.
 
Featured image credit: Edited from Freepik
The post Irish B2B Payment Provider TransferMate is now a Fintech Unicorn appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/irish-b2b-payment-provider-transfermate-is-now-a-fintech-unicorn</link><guid>2658</guid><author>Administrator</author><dc:content /><dc:text>Irish B2B Payment Provider TransferMate is now a Fintech Unicorn</dc:text></item><item><title>Disruption im Wealth Management: 5 Gründe warum Vermögensverwalter Data Analytics einführen sollten</title><description><![CDATA[In den nächsten Dekaden werden grosse Vermögen von den Baby Boomern an ihre Nachfahren der Generationen X und Y (Generation Y wird auch Millennials genannt) vererbt. Zur Höhe der Vermögen, die vererbt werden, zirkulieren verschiedenste Zahlen. Und nicht alle Haushalte, in denen Geld vererbt wird, sind attraktive Kunden für Wealth Manager.
Aber auch wenn man sich nur zu vererbende Vermögen von 5 bis 30 Millionen US-Dollar anschaut, bleiben die Dimensionen des sogenannten Great Wealth Transfers riesig: Laut Wealth-X werden bis 2030 in Europa 3,2 Billionen, in den USA 8,8 Billionen und in Asien 1,9 Billionen US-Dollar vererbt.
Der Wealth Transfer hin zu den Millennials stellt Vermögensverwalter vor grosse Herausforderungen. Denn Studien zeigen, dass sich rund 80 Prozent der Millennials im Erbfall einen neuen Vermögensberater suchen wollen. Ausserdem drängen neue Unternehmen mit starken digitalen Angeboten in den Markt. Daher sollten sich Wealth Manager jetzt unbedingt fragen, wie sie sich aufstellen wollen, um die jetzt und in Zukunft Erbenden als Kunden zu behalten und sogar neue Kunden zu gewinnen.
image via Freepik
Ein neuer Investortyp will mehr digitale Interaktion
Wealth Manager sollten auch deshalb schnell handeln, denn nicht nur die Millennials, die geerbt haben oder erben werden, stellen neue Anforderungen an ihre Vermögensverwalter. Deloitte spricht vom Aufkommen des Re-Wired Investor. Dieser Investortyp hat neue Denkmuster und neue Kundenwünsche. Re-Wired Investors sind per Definition also nicht nur Jüngere. Die neuen Denkmuster sind auch bei Älteren angekommen und sorgen dort auch für neue Kundenwünsche: Re-Wired Investors möchten Dinge digital selbst erledigen können, erwarten ein personalisiertes Erlebnis auf allen Kanälen und wollen eine Vermögensverwaltung, die sich ihrem Lebensstil anpasst.
Ohne ein digitalisiertes Geschäftsmodell werden Vermögensverwalter kaum in der Lage sein, die Re-Wired Investors effektiv zu betreuen. Denn zwischen Vermögensverwaltern und ihren Kunden werden immer mehr hochwertige digitale Interaktionen stattfinden.
Digitalisierung beflügelt das gesamte Business
Wealth Manager stehen nun vor der Herausforderung, eine IT-Lösung zu entwickeln oder auf dem Markt zu finden, zu testen und einzuführen, die diese hochwertigen digitalen Interaktionen ermöglichen. Sind diese Lösungen eingeführt, profitieren Wealth Manager in vielen Bereichen: Erstens bekommen ihre Kunden die Digital Experience, die sie wünschen – inklusive einer Personalisierung in grossem Umfang, die die Kundenbindung steigert.
Zweitens legt eine neue IT den Grundstein für eine viele weitere Vorteile: Die Time to Value sinkt, man bekommt die Freiheit und die Flexibilität, schnell Innovationen einzuführen, kann die Margen verbessern und die Produktivität der Relationship Manager (RM) steigern.
Allein der letzte Punkt birgt viel Potenzial, denn McKinsey schätzt, dass RMs in der Regel 60 bis 70 Prozent ihrer Zeit mit Tätigkeiten verbringen, die keinen Umsatz bringen, und das bei ständig zunehmenden regulatorischen und Compliance-Verpflichtungen. Ein Grund dafür sei, dass die meisten mit veralteten IT-Systemen und Tabellenkalkulationen arbeiten.
Analytics ist Grundlage für die neuen Anwendungen und deren Benefits
Wealth Manager sind gut beraten, auf ein datenbasiertes oder zumindest auf ein datengestütztes Geschäftsmodell zu wechseln. Dafür müssen Daten systematisch erfasst und anschliessend analysiert werden. Die Analyseergebnisse liefern dann die Grundlagen, mit denen Wealth Manager im Zuge weiterer Prozesse beispielsweise personalisierte Erlebnisse schaffen und sich die weiteren, oben genannten Benefits erschliessen.
Um Daten systematisch zu erfassen, müssen viele Prozesse neu gedacht und neue IT-Lösungen eingeführt werden. RMs stehen beispielsweise routinemässig offline mit ihren Kunden in Kontakt. Diese Interaktionen liefern wichtige Informationen über die Präferenzen und Anforderungen der Kunden, die jedoch häufig nur auf Papier oder in den Köpfen der RMs gespeichert werden. Um dieses Wissen für die Analyse zu erschliessen, müssen es die RMs digitalisieren. Das muss effizient passieren, was wiederum passende Tools und deren Integration in die IT-Landschaft erfordert.
Das klingt aufwendig, ist es aber wert, denn es handelt sich um sehr hochwertige Daten, deren Auswertung viele Vorteile bietet. Wealth Manager können aber auch einfacher an Daten gelangen. Beispielsweise erzeugen die Nutzer beim digitalen Onboarding und der Nutzung der App bzw. des Webinterface kontinuierlich Daten. Diese Daten liegen gleich digital vor, sie müssen also nur noch erfasst und gespeichert werden und können dann analysiert werden. Doch auch für das Erfassen der Nutzerdaten ist eine IT-Lösung erforderlich, sofern sie nicht bereits Teil der App und des Webinterface ist. Sind die Daten dann erfasst, können sie analysiert werden. Auch dafür ist eine IT-Lösung erforderlich.
Ein strategischer Ansatz für Analytics muss her
Bei vielen Wealth Managern können die Kunden derzeit kaum Dinge digital selbst erledigen, und sie bekommen kein personalisiertes Erlebnis auf allen Kanälen. Den RMs wiederum stehen keine Tools für die effiziente Digitalisierung der offline gewonnenen Daten zur Verfügung, und die Erfassung der Daten durch Nutzung von App und Webinterface ist bestenfalls lückenhaft. Es fehlt ein strategischer Ansatz zur systematischen Erfassung und Analyse von Daten.
Und es fehlt die IT, um den Analytics-Ansatz umzusetzen. Bei der dringend erforderlichen Modernisierung der IT stossen Wealth Manager allerdings auf eine enorme Herausforderung: Neue IT-Lösungen können kaum an die Legacy-IT angebunden werden. Die Back-End-Systeme sind veraltet und im Front-End herrscht eine monolithische Infrastruktur. Diese Legacy-IT muss weiter betrieben werden, doch dadurch lässt sich die gesamte IT-Landschaft kaum modernisieren. Die Legacy-IT verunmöglicht Innovationen. Wealth Manager, die Analytics einführen wollen, benötigen also eine Lösung, die einerseits möglichst viele der oben genannten Use Cases abdeckt (wie Personalisierung, Daten erfassen und analysieren…) und andererseits mit der Legacy-IT integriert. Eine Engagement-Banking-Plattform adressiert genau diese beiden Herausforderungen.
Daraus folgt die Frage, wie eine solche Engagement-Banking-Plattform aussehen soll und wie Vermögensverwalter sie am besten einführen. Sie können die Engagement-Banking-Plattform selbst entwickeln. Aber ist das sinnvoll, angesichts von Fragen wie: Wie lange wird es dauern? Wie viel wird die Entwicklung kosten? Ist dafür Knowhow vorhanden? Wie gross ist dann der laufende Aufwand für das Hosting, die Weiterentwicklung, den Support für die Mitarbeiter, Troubleshooting, Security Fixes, Audits? Diese Aufwände gilt es genau abzuwägen. Alternativ zur kompletten Eigenentwicklung lohnt sich daher ein Blick auf existierende Engagement-Banking-Plattformen, die am Markt verfügbar sind, sich individualisieren lassen und zur eigenen Strategie passen.
Die Power guter Software
Eine gute Engagement-Banking-Plattform hilft Vermögensverwaltern dabei, schnell zu einem digitalen State-of-the-Art Auftritt zu gelangen (moderne App und Webinterface) und so die Bedürfnisse der Re-Wired Investors zu erfüllen. Sie ermöglicht es auch, Daten effizient zu erfassen und zu analysieren. Über einen integrierten Marketplace lassen sich zudem mit wenigen Klicks kuratierte Fintech-Lösungen beispielsweise für Onboarding, vertiefte Analytics, AML und KYC einführen. Mit einer Engagement-Banking-Plattform stellen sich Wealth Manager zukunftssicher auf: Sie modernisieren schnell ihre IT, um dann z.B. datenbasierte persönliche Empfehlungen automatisch auszuspielen. Und die RMs werden von unproduktiven Aufgaben entlastet, wodurch sie mehr Zeit für die Momente und Konversationen mit ihren Kunden gewinnen, die wirklich wichtig sind.
 
Featured image credit: Freepik
The post Disruption im Wealth Management: 5 Gründe warum Vermögensverwalter Data Analytics einführen sollten appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/disruption-im-wealth-management-5-grunde-warum-vermogensverwalter-data-analytics-einfuhren-sollten</link><guid>2657</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/wealth-management-1024x756.jpg?x30842</dc:content ><dc:text>Disruption im Wealth Management: 5 Gründe warum Vermögensverwalter Data Analytics einführen sollten</dc:text></item><item><title>Meet the 10 Fintech Finalists at the Swiss Startup Competition Venture and Winners for 2022</title><description><![CDATA[Switzerland’s startup competition &gt;&gt;venture&gt;&gt; has announced its list of 52 finalists for its 2022 competition.
The competition has finalists from five different verticals namely Finance and Insurance, Health and Nutrition, ICT, Retail and Consumer Services as well as Industrials and Engineering.
Their scores and evaluations revealed the top 10 startups (or 11 since there was a tie) across the 5 industry verticals.


These finalists, listed below in alphabetical order, will now move on to the next phase of the competition.
For the Finance and Insurance vertical, &gt;&gt;venture&gt;&gt; the 11 finalists and the 3 winners are:


Eleven Finalists for the Finance and Insurance Vertical:
Aktionariat

Today less than 1% of Swiss companies are listed on a stock exchange. For these companies access to capital is limited to PE&amp;VC investments. Aktionariat offers a toolset that allows unlisted companies to create a market for their shares directly on the company’s website, enabling the public to purchase shares of previously inaccessible, unlisted companies. The solution also provides a liquid secondary market, which minimises spreads and addresses investors’ idiosyncratic risks.
Clanq

A mobile finance app, empowering parents to save for their children’s future. For a better performance Clanq combines savings accounts with cashback on every purchase and sustainable investments. In addition, each family member can easily contribute to reach the savings goals. The app offers automated savings processes and financial education for parents to become a financial role model for their children.
Correntics (2nd Place)

With its data-driven approach and a deep understanding of risk, Correntics helps its clients to future-proof their supply chains and improve their financial resilience in the face of climate change and emerging risks.
iAccess Partners

By aggregating smaller investment amounts in bigger investment tickets, iAccess Partners AG gives access to top quartile Private Equity funds. Hence, customers can benefit from an outperforming asset class, have access to Private Equity with an investment amount starting from 25’000 Swiss Francs and benefit from a reliable and fully digital end-to-end investment process.
Kaspar&amp; (3rd Place)

700’000 Swiss mass affluent market customers have one and the same problem in today’s low-interest rate world: they know they should invest for tomorrow, but do not know how to start today. Kaspar&amp; offers an all-in-one app including a Swiss bank account, a personalised payment card, an automatic transaction-based round-up mechanism that invests the resulting micro-payments and the chance to invest any amount in professionally managed investment strategies.
Kontera

Kontera reads and analyses your invoices and credit card statements, learns how you book them and syncs them back into your accounting software.
perseedU

perseedU is a Swiss web3 platform that empowers talents to launch their own branded crypto tokens to fund their ambitions. Half of the purchase will be directly donated to the talent, the other half will be converted into a tradable token. Holding these tokens grants sponsors access to predefined perks (e.g. newsletter or virtual coffee chats) and pays interests. If the talent succeeds, sponsors profit from a higher resell value. Corporates can use it for PR and as an employer branding tool.
Splint Invest

Splint Invest is a B2B2C platform, where retail investors can buy tokens of alternative investments. Combining smart contracts, DLT and AI, Splint tokenises assets effortlessly and in a fully automated fashion, thus making it possible to offer access to unserved retail customers when it comes to portfolio diversification and alternative investments.

Swise



Private markets asset classes are scattered and restricted by gatekeepers, making them difficult to navigate and pushing up expenses. This causes the paradox of choice, where investors struggle to find their ideal products, while simultaneously being excluded from attractive investment opportunities. By combining technological advances in blockchain and the team’s investment experience, Swise aims to solve these problems for the next generations.
VERITIC (1st Place)

The current NFT user experience is not yet ripe for the mainstream. Custody will be a key driver of adoption, as was the case for cryptocurrencies. VERITIC aims to be no. 1 in the NFT custody space. Clients include both blockchains, for which no custody capability exist (e.g., Casper, our first paying client), as well as institutions aiming to provide a custodial purchasing experience to their fans / collectors.

]]></description><link>https://fintechnews.eu/meet-the-10-fintech-finalists-at-the-swiss-startup-competition-venture-and-winners-for-2022</link><guid>2656</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/06/Digital-Agreements-Best-Practices.png?x30842</dc:content ><dc:text>Meet the 10 Fintech Finalists at the Swiss Startup Competition Venture and Winners for 2022</dc:text></item><item><title>Baltic Super Bolt und Uber Konkurrent startet in der Schweiz</title><description><![CDATA[Bolt, die erste europäische Super-App und der grösste Anbieter von Mikromobilität in Europa, startet seinen Sharing-Service für E-Trottinettes in Winterthur. Dies markiert den Eintritt der Marke in die Schweiz.
Mit der Bolt-App, die auf iOS und Android verfügbar ist, können Winterthurerinnen und Winterthurer ab heute die E-Trottinette des Unternehmens mieten. Als besonderes Startangebot können die Geräte ohne Entsperrgebühr und einem Preis von nur 0,25 CHF pro Minute ausgeliehen werden, was den Service zum günstigsten in der Stadt macht.
Zum Start bietet Bolt die E-Trottinette ohne Entsperrgebühr zu einem zeitlich begrenzten Sonderpreis von 0.25CHF pro Minute an.

Bolt bietet in unzähligen anderen Ländern auch Drive und Food Delivery Services an und ist in den Baltic Staaten die Nummer 1 App Punkto Mobilität. Mittlerweile werden einige der Services auch in Städten wie Dar es Salaam (Tanzania) oder Bangkok (Thailand) angeboten.  Das Unternehmen hatte erst kürzlich eine 625Millionen EUR Finanzierung abgeschlossen und wird zu 7,4 Milliarden bewertet und ist in 485 Cities aktiv.
 
Balthasar Scheder
Balthasar Scheder, Country Manager &#8211; Rentals bei Bolt, sagt:
&#8220;Wir freuen uns sehr, unsere E-Trotti nach Winterthur und Bolt in die Schweiz zu bringen. Damit wir unser Ziel erreichen, die Abhängigkeit vom privaten Auto zu verringern, und damit Elektroroller für alle funktionieren, muss der Service regelmäßig genutzt werden. Wir glauben, dass wir dank der günstige Preise und den vielen Features des Bolt 5 in einer hervorragenden Position sind, dies zu erreichen. Dies ist erst der Anfang für Bolt in der Schweiz.&#8221;
The post Baltic Super Bolt und Uber Konkurrent startet in der Schweiz appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/baltic-super-bolt-und-uber-konkurrent-startet-in-der-schweiz</link><guid>2654</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/Bolt-Secures-E628m-Funding-in-the-Largest-Investment-Round-to-Date-1024x568.jpg?x30842</dc:content ><dc:text>Baltic Super Bolt und Uber Konkurrent startet in der Schweiz</dc:text></item><item><title>Finnova Takes Over Contovista from Viseca</title><description><![CDATA[The Lenzburg-based banking software manufacturer Finnova AG is acquiring the fintech company Contovista with retroactive effect from 1 January 2022. The two companies have been successfully working together for years. Finnova is acquiring 100% of the shares in Contovista, which has its head office in Schlieren/ZH, from its current owner, Viseca. The purchase price has not been disclosed.
Contovista was founded in 2013 and has evolved from a first mover into a Swiss leader in data-based banking. Its white-label software and its data and analytics solutions can be seamlessly integrated into existing banking systems. More than five million bank clients now use the Contovista solution via their partner banks.
Data-driven banking is a key strategic area for Finnova and its customers, alongside banking automation, and digitalisation and ecosystem. With the Finnova Analytical Framework, Finnova already offers a rapidly growing range of data solutions, delivered by an experienced team of data experts. Through the merger with Contovista, Finnova is acquiring a team of around 50 data experts, who bring with them wide-ranging knowledge of the many facets of data-driven banking. Building on the existing solution portfolio and the comprehensive expertise in data analytics and banking, Finnova offers banks unique support in the implementation of data-driven business models. This frees them up to pursue their chosen growth strategies more quickly. Finnova&#8217;s data-driven offer also includes solutions such as the Finnova Data Warehouse and the bank management solution Finnova Control.
Schlieren will become the fifth Finnova office, alongside Lenzburg, Seewen, Chur and Nyon. Finnova has already implemented a new remote working policy and enables its employees to work flexibly from any location. Contovista&#8217;s employees are joining the Finnova Analytical Framework team in a new department, whose management will report directly to CEO Hendrik Lang.
Hendrik Lang
Hendrik Lang says,
&#8216;We are extremely pleased to be gaining Contovista&#8217;s employees. Their knowledge will enable us to further expand our data-driven banking operations. The merger brings us 50 employees dedicated to developing innovative data analytics solutions for our customers. The Finnova core banking system is not a prerequisite for operation of the Finnova Analytical Framework or the Contovista solutions, so the merger will not have any negative effects for Contovista&#8217;s existing customers.&#8217;
&#8216;The sale of Contovista Ltd. is part of our systematic drive to focus on payment card issuance,&#8217;
clarifies Max Scholzer, CEO of Viseca.
 
 
Featured image credit: Unsplash
The post Finnova Takes Over Contovista from Viseca appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/finnova-takes-over-contovista-from-viseca</link><guid>2653</guid><author>Administrator</author><dc:content /><dc:text>Finnova Takes Over Contovista from Viseca</dc:text></item><item><title>New Access Part of the “World’s Most Innovative Wealthtech Companies” 2022</title><description><![CDATA[New Access SA has been recognized among the 100 tech companies transforming the global investment and banking industries in the fourth annual 2022 WealthTech100 list.
Launched by specialist research firm FinTech Global, the WealthTech100 is an annual list of 100 of the world’s most innovative WealthTech companies selected by a panel of industry experts and analysts from over more than 1’200 businesses. The prestigious ranking recognizes the world’s most innovative technology solution providers that address the digital transformation challenges and opportunities faced by investment firms, private banks and financial advisors.
For this 2022 edition, the finalists were recognized for their innovative use of technology to solve a significant industry problem, or to generate efficiency improvements across the investment value chain.
Vincent Jeunet
“These last years, New Access has heavily invested in digital transformation, focusing on developing our innovative Digital Client Lifecycle Management Platform, Banker’s Front, and our Client/EAM e-Banking portal to address the challenges faced by the private banking and wealth management industry. We are very proud today, to be rewarded for this hard work and be recognized as an innovative technology solution provider ranked among the 100 best companies in the world.”,
comments Vincent Jeunet, CEO of New Access.
As these last years have reshaped the WealthTech market, new needs and digital challenges have emerged. Fintech Global states:
“The WealthTech sector has experienced rapid growth over the last two years as the huge increase in digital financial products and remote client communications due to COVID-19 restrictions has accelerated the need for innovation. On the current trajectory, the global WealthTech market is projected to reach $11.9bn by 2030.”
This rise of digitization has forced market players to adapt their offers and technologies. By digitizing its systems and instill intelligence and flexibility to those, New Access has adapted successfully to face these new market challenges with its integrated and modular core-to-digital solution suite enabling private banks and wealth managers to transform digitally.
Showcasing insights into the WealthTech market, the 2022 WealthTech100 list evaluates which digital wealth management and financial advisory models have market potential and are most likely to succeed and have a lasting impact on the industry.
Richard Sachar
FinTech Global director Richard Sachar said,
“The rise of digital distribution channels and online financial products has opened new client segments for investment firms and financial advisors. As a result, businesses that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time. The WealthTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in areas such as client acquisition, financial planning, portfolio management and digital brokerage.”
The full list of the WealthTech100 companies is available on www.WealthTech100.com.
 
About New Access SA
New Access is a leading provider of a scalable and modular Core-to-Digital solution suite designed to meet the specific requirements of the private banking and wealth management industry. New Access enables digital transformation and improves client’s satisfaction with its digital front-end solution, including an advisory cockpit, Client Lifecycle Management platform (CLM) and a client/EAM e-Banking portal. Its product also includes an advanced and comprehensive Wealth Management Core Banking System, a Portfolio Management System (PMS) and a powerful workflow engine (BPM). New Access has been operating for over 20 years exclusively in the private banking and wealth management sectors, supporting more than 60 customers, globally. www.newaccess.ch
The post New Access Part of the “World’s Most Innovative Wealthtech Companies” 2022 appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/new-access-part-of-the-worlds-most-innovative-wealthtech-companies-2022</link><guid>2652</guid><author>Administrator</author><dc:content /><dc:text>New Access Part of the “World’s Most Innovative Wealthtech Companies” 2022</dc:text></item><item><title>Thought Machine Raises US$160 Million Series D, Now Valued at US$2.7 Billion</title><description><![CDATA[Thought Machine, the UK-headquartered core banking technology company, today announced that it has closed its US$160 million series D funding round.
The company is now valued at US$2.7 billion which is a 100% increase from its valuation at the close of its US$200 million series C round which earned it a unicorn badge.
The fundraise was led by Temasek with participation from Intesa Sanpaolo and Morgan Stanley.
Existing investors following-on in this round include Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB.
Funds from this investment round will continue the company’s expansion plans in Asia Pacific, growing in markets such as Vietnam, Thailand, Indonesia and Philippines.
Thought Machine had also recently opened a new office in Sydney to expand its operations in Australia.
Additionally, Thought Machine will also use proceeds from the funding to continue investing in its technology by expanding the capabilities of its core banking platform and innovating in new product lines.
Lloyds Banking Group, an early investor in Thought Machine and a participant in this round, has extended its license agreement with the business until 2029.
This extension is part of Lloyds Banking Group’s continuing technology modernisation programme.
Thought Machine continues to strengthen its executive team with the appointments of former Bank of America and Finastra executive Arnaud Attamian as Chief Financial Officer, and former SAP and Box sales leader Dana Barisano as Chief Revenue Officer.
Carlo Messina
Carlo Messina, Managing Director and CEO of Intesa Sanpaolo said,
“We are investing £40 million into Thought Machine, a fintech innovator and partner we consider strategic to the industrial upgrade of Intesa Sanpaolo.
 
Their cloud-based technology is fundamental to our transformation from incumbent to digital challenger, improving our core banking technology and providing the foundation for our new digital bank, Isybank.”
Paul Taylor
Paul Taylor, Founder and CEO of Thought Machine said,
“This new round of funding bringing Temasek, Morgan Stanley, and Intesa Sanpaolo into the business is our statement of intent: we intend to become the leader in core banking technology, and are being deployed by the biggest, most successful banks around the world.
 
We will use this new capital to accelerate our expansion plans, serve more clients around the world, and continuously refine the capabilities of our core banking platform and other products.”
The post Thought Machine Raises US$160 Million Series D, Now Valued at US$2.7 Billion appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/thought-machine-raises-us160-million-series-d-now-valued-at-us27-billion</link><guid>2651</guid><author>Administrator</author><dc:content /><dc:text>Thought Machine Raises US$160 Million Series D, Now Valued at US$2.7 Billion</dc:text></item><item><title>Alibaba Cloud Launches Data Centre in Frankfurt</title><description><![CDATA[Alibaba Cloud has announced that it has launched its third datacentre in Germany to support the growing digital transformation demands from customers across Europe.
Located in Frankfurt, the datacentre provides a wide range of cloud computing products ranging from storage, network to database. With the data residing in Germany, the datacentre adheres to the highest security standards and the strict compliance regulations set out in the Cloud Computing Compliance Controls Catalog (C5) in Germany. Together the three datacentres offer European customers high availability, exceptional resilience and robust disaster recovery capabilities.
With the introduction of the new datacentre, Alibaba Cloud now boasts a network of 84 availability zones in 27 regions across the globe, offering a highly secure, scalable, robust and sustainable cloud infrastructure to support global customers embracing digital innovation.
Raymond Ma
“The third datacentre launch underscores our continuous commitment to serving the local German and European markets,”
said Raymond Ma, General Manager of Europe, Alibaba Cloud Intelligence.
“With our proven innovations and competitive solutions that meet strict security and compliance requirements, we are determined in our mission to support our customers with their digital transformation demands.”
The new datacenter also features free cooling operation via dry coolers &#8211; using naturally cool ambient air instead of mechanical refrigeration. The full free cooling hours is expected to reach over 7,000 hours a year. In addition, the datacenter is committed to using 100% green electricity to power its operation, along with an intelligent cloud-based platform to monitor and optimize its daily carbon footprint for a more sustainable operation approach.
Alibaba Cloud has been collaborating with customers in the automotive, manufacturing, retail and gaming sectors in Europe since it unveiled its first datacentre in Frankfurt in 2016. Since then, Alibaba Cloud has also introduced multiple AI services to the market, such as Intelligent Speech Interaction, a Machine Learning Platform for AI (PAI) and GPU clusters to support clients’ demands for ongoing cloud-based innovation.
As a member of the Trusted Cloud Initiative of the BMWK, Alibaba Cloud was also the first cloud service provider to receive the C5 test certificate with extended requirements from the German Federal Office for Information Security (BSI). It also successfully passed the audit of German AI Cloud Services Compliance Criteria Catalogue (AIC4), the first applicable testing standard established by Germany&#8217;s Federal Office for Information Security (BSI) for certifying the security of AI applications deployed in Germany. It has also partnered with companies including Siemens and SAP to drive digital transformation in China.
Alibaba is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in 2021, according to Gartner&#8217;s report, Market Share: IT Services, 2021.
 
Featured image credit: Edited from Unsplash
The post Alibaba Cloud Launches Data Centre in Frankfurt appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/alibaba-cloud-launches-data-centre-in-frankfurt</link><guid>2650</guid><author>Administrator</author><dc:content /><dc:text>Alibaba Cloud Launches Data Centre in Frankfurt</dc:text></item><item><title>Checkout.com to Acquire French Identity Verification Startup Ubble</title><description><![CDATA[As part of its drive to expand its financial services offering, global cloud-based payments provider Checkout.com announced its intent to acquire digital identity verification (IDV) startup, ubble.
The deal—slated to close later this year pending regulatory approval—comes amid the continued growth of online transaction volumes around the world, and the concurrent increased risk of fraud and money laundering. It also supports Checkout.com&#8217;s mission to enable businesses and their communities to thrive in the digital economy.
The acquisition of ubble will enable Checkout.com to expand its current suite of financial products that allows fintechs and e-commerce merchants to accept and send payments to and from their customers, while managing the financial risk involved.
The addition of IDV capabilities will support another important aspect of the payment journey: ensuring merchants and fintechs are compliant with local regulations, can verify that their customers are who they say they are, and can stay ahead of potential changes to the complex EU and global regulatory landscape in the future.
Co-founded in 2018 by CEO François Wyss, CRO Juliette Delanoe and CTO Nicolas Debernardi, ubble pioneered the technical foundations of real-time video-based identity verification, and today has almost 100 people employed in its French offices. The company&#8217;s flagship solution enables the automated verification of a user&#8217;s identity for over 2000 types of documents from 214 countries and territories, using best-in-class machine learning models.
Meron Colbeci
&#8220;ubble was founded with a mission to provide people with the convenience and security of using their personal identity in the digital world—and that is clearly becoming a growing need for e-commerce and crypto merchants, digital wallets, and other fintechs we serve,&#8221;
explained Meron Colbeci, chief product officer at Checkout.com.
&#8220;We were impressed with the ubble team, their ability to rapidly drive machine-learning innovation in a complex and challenging space, and their market-leading engineering talent. By partnering more closely, we can significantly accelerate their already ambitious roadmap and bring the benefit of their cutting-edge technology to our thriving ecosystem of merchants.&#8221;
François Wyss
&#8220;For the past four years our team has worked to build a technology foundation that establishes trust between online services and their users, and respects and protects the privacy of identity data across the board,&#8221;
added ubble CEO Wyss.
&#8220;With today&#8217;s exciting news, we can increase the velocity of our IDV innovation journey, help to evolve the Checkout.com payments technology stack even further, and amplify and extend our collective reach and benefit to merchants around the world.&#8221;
To date, ubble—which was funded by Partech, Breega, Kima Ventures and other angel investors—has gained traction with many of the french fintechs, ride-hailing and delivery apps, as well as major banking networks and traditional financial institutions. Its success has been driven by an uncompromising approach to security and compliance and the development of its proprietary technology.
From here, the potential use cases remain far-ranging—especially considering the role that IDV can play in marketplaces, issuing or crypto trading, for example.
&#8220;We always put the needs of our merchants first,&#8221;
added Colbeci.
&#8220;By expanding our security and fraud detection capabilities, we can reduce the time, cost and friction those merchants experience with existing IDV solutions. And they can offer their end consumers a simple and compelling experience, which lends itself to increased conversion rates and faster growth.&#8221;
 
Featured image credit: Edited from Freepik
The post Checkout.com to Acquire French Identity Verification Startup Ubble appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/checkoutcom-to-acquire-french-identity-verification-startup-ubble</link><guid>2648</guid><author>Administrator</author><dc:content /><dc:text>Checkout.com to Acquire French Identity Verification Startup Ubble</dc:text></item><item><title>Wolters Kluwer Rolls Out Its OmniVault for Real Estate Finance Solution</title><description><![CDATA[Wolters Kluwer Compliance Solutions announced that it has launched its OmniVault for Real Estate Finance solution.
OmniVault for Real Estate Finance uses the company’s eVault technology to support digital home equity lending, both HELOCs and home equity loans, in addition to already supported conventional, U.S. government and jumbo first mortgages.
Wolters Kluwer’s technology enables institutions to originate digital HELOCs as a Digital Original®, rather than just a PDF or a paper document.
When a HELOC is created within the OmniVault for Real Estate Finance offering, it establishes the Digital Original® of the HELOC, ensuring verifiable ownership and control, and enabling the sale, transferability, pledging, syndication and securitization of these digital assets.
The offering includes a digitally sealed audit trail providing an irrefutable chain of custody and evidence for the digital assets.
Wolters Kluwer’s proprietary technology has been around for over 20 years and supports both Mortgage Electronic Registrations Systems (MERS®) and non-MERS® eRegistry transactions.
Like Wolters Kluwer mortgage eNotes, digital HELOCs can be stored, managed and easily transferred in and out of an eVault on a single platform.
The OmniVault Real Estate Finance solution provides clients with the same user experience and visibility across all asset classes.
With Wolters Kluwer’s Rapid Deployment Solution (RDS), lenders can be using its platform for HELOCs within two weeks.
Steven Meirink
Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions said,
“Being able to offer digital HELOCs will help lenders differentiate their customer experience, while our OmniVault will give institutions simple, consistent ways to originate and manage digital real estate assets across their organizations.
 
Many of the largest financial institutions are already Wolters Kluwer eOriginal clients, so leveraging OmniVault by adding digital HELOCs can easily be done under their current MSAs.”
Simon Moir
Simon Moir, Vice President and Segment Leader, GRC Banking Compliance, Wolters Kluwer Compliance Solutions, added:
&#8220;Today, most HELOCs are held on balance sheets, but there are early signs that a secondary market is developing for these products. If this comes to fruition, the ability to quickly move digital assets to investors or into securities will take on greater importance.
 
Wolters Kluwer’s technology has already been used in more than 456 Asset Backed Securities (ABS) securitizations valued at over $164 billion and is firmly embedded in the ABS and Residential Mortgage-Backed Securities (RMBS) ecosystems.”
 
 

 
Featured image credit: edited from Freepik
The post Wolters Kluwer Rolls Out Its OmniVault for Real Estate Finance Solution appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/wolters-kluwer-rolls-out-its-omnivault-for-real-estate-finance-solution</link><guid>2649</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/AM.png?x30842</dc:content ><dc:text>Wolters Kluwer Rolls Out Its OmniVault for Real Estate Finance Solution</dc:text></item><item><title>Localisation Is Imperative When Expanding Your Business to New Markets</title><description><![CDATA[xpate CEO Mihails Safro shares his view on how sellers entering new markets can surpass consumer&#8217;s expectations.
Mihails Safro
Today, consumers no longer fear online purchases and are ready to shop with a seller 10,000 miles away just as much as with a local business. Two years ago, cross-border payments held a 24% share of the entire e-commerce activity in Europe, a 14.4% annual surge from 2018. In 2020, the pandemic accelerated the growth of online payments, including international purchases.
Everything above means that customers continue to demand more, thus pushing the development of cross-border e-commerce further. That&#8217;s good news for sellers – with a rising demand comes an opportunity, and that opportunity can&#8217;t be left behind. However, sellers can&#8217;t get away with just selling &#8211; they must understand how to present themselves in the new market, get more conversions and deliver unforgettable user experiences.
Well, the nut seems too hard to crack&#8230;or is it? In this article, you will find tips and tricks on how to walk the right path and seamlessly sell your goods in the new region.
Localise Everything!
Number one rule – dive into regional specifics, and learn about payment methods people use. 59% of the Dutch use the iDEAL app for money transfers, while Italians adopted Paypal and Postepay. These small details make a massive difference. Let people pay in their currency, and find a local payment processor that you can consult on local payment methods.
Comply with local laws
Sellers operating abroad must be aware of PSD2 and its Strong Customer Authentication (SCA) conditions. SCA is an EU regulation forcing any transfer over €30 to be verified through a two-factor method. If your enterprise operates within EEA, then SCA is the first thing you must understand in and out.
SCA&#8217;s goal is to reduce online fraud. However, that&#8217;s fly without drawbacks. Consumers who just want to pay without multiple steps, such as one time passwords through call or message, are unable to receive the simplicity they desire. Hence, the rate of shopping cart abandonment is on the rise.
To make things easy, implement a 3D Secure solution. The system allows sellers to send information much faster to the issuing bank that needs it to verify the payment. The more data a seller shares, the higher chance of transaction approval.
Optimise Your Mobile App
Barriliance&#8217;s analysis uncovered an ugly truth &#8211; 86.65% of customers leave shopping carts with no final payment. Now, as e-commerce is about to hit $3.56 trillion in 2021, it becomes evident that sellers are losing out on fat profits on an unoptimised mobile shopping experience.
The mobile payment process is the first thing that must be in line with the user&#8217;s expectations. That can mean a bunch of things &#8211; better checkout pages, a variety of payment options, etc. While that might seem scary, it&#8217;s not – in some cases, it&#8217;s enough to redesign a payment form and make all the fields clear and usable, like the field for submitting CVC (we all faced its complete absence at some point). It might also mean something else, like letting users save the card details for future payments.
Let&#8217;s get back to basics – a fantastic payment processor will have the skillset to make the mobile payment process smooth and easy, leaving you with skyrocketing conversions.
E-commerce Changed Consumer Behaviour Forever
International trade is a goldmine for the bravest. Yet, it&#8217;s a rocky road – consumer expectations of mobile shopping have never been higher.
Let&#8217;s wrap it up. In order to sell, a seller must study their prospective customers and submit to their demands. That means mobile optimisation, localisation and throughout knowledge of local laws.
However, this is just the tip of the iceberg. Merchants, especially smaller merchants, will need help to navigate the complexities of cross-border commerce. At xpate, we pride ourselves on bringing the personal touch to our relationships with clients. We have a huge amount of expertise and we’ll give you the love you need to help your business find success and growth in whichever new market you go into.
The post Localisation Is Imperative When Expanding Your Business to New Markets appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/localisation-is-imperative-when-expanding-your-business-to-new-markets</link><guid>2647</guid><author>Administrator</author><dc:content /><dc:text>Localisation Is Imperative When Expanding Your Business to New Markets</dc:text></item><item><title>Colombian Proptech Habi Attains Unicorn Status With US$200 Million Series C</title><description><![CDATA[Habi, a Colombian data-driven residential real estate platform, announced that it has raised US$200 million in equity in its Series C funding round,
The company said that it is the first proptech unicorn with a female founder and CEO in Latin America.
The funding round was led by Homebrew and SoftBank Latin America Funds, with participation from Banco Mercantil del Norte, S.A., Institución de Banca Múltiple, Grupo Financiero Banorte, Tiger Global, Inspired Capital, Clocktower Ventures, Endeavor Catalyst and Henry Kravis, among others.
Habi said that it will use the capital raised in its Series C round to continue to expand its geographic presence on a path to cover all major cities across Spanish-speaking Latin America and deepen its suite of offerings, with a focus on embedded financial services.
This announcement comes on the heels of its US$100 million Series B funding round in June 2021 led by the SoftBank Latin America Fund alongside previous investors Inspired Capital, Tiger Global, Homebrew, and 8VC. The funds allowed Habi to expand its footprint into Mexico.
Habi now operates in more than 15 cities in Mexico and Colombia, representing an estimated population of over 60 million.
Brynne McNulty Rojas
Brynne McNulty Rojas, Co-Founder and CEO of Habi said,
“We’re thrilled with the progress we’ve made in the short time since our last funding round.
 
With strong partnerships and an expanded market presence, we are at the very early stages of building out the infrastructure to provide much-needed information, trust and liquidity to a housing market that desperately needs it—one we estimate at $2 trillion across cities in Spanish-speaking Latin America.”
Sebastian Noguera
Sebastian Noguera, Co-Founder and President of Habi added,
“We are extremely proud that we have built a world-class team that continues to demonstrate a deep commitment to our customers and who are building out innovative, proprietary tools with the underlying goal of democratizing the homebuying process for millions of consumers.”

 
 
 

 
Featured image: (L-R) Brynne McNulty Rojas, Co-Founder and CEO of Habi and Sebastian Noguera, Co-Founder and President of Habi
The post Colombian Proptech Habi Attains Unicorn Status With US$200 Million Series C appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/colombian-proptech-habi-attains-unicorn-status-with-us200-million-series-c</link><guid>2646</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>Colombian Proptech Habi Attains Unicorn Status With US$200 Million Series C</dc:text></item><item><title>BLKB’s Digital Bank radicant Secures a Banking License From FINMA</title><description><![CDATA[Zurich-based digital financial services provider radicant has received a banking license from the Swiss Financial Market Supervisory Authority (FINMA).
Basellandschaftliche Kantonalbank (BLKB) in partnership with with Dr. Anders Bally, the founder of venture firm Bally Capital Partners, had launched radicant in April last year.
radicant said in a statement that it plans to officially launch by the end of 2022 where it will be focusing on personalised and sustainable financial solutions.
In order to incorporate the UN&#8217;s 17 Sustainable Development Goals (SDGs) into the company&#8217;s culture and provide the community with access to knowledge, radicant is building a SDG Competence Center with senior experts in different areas.
radicant added that its focus will be on customers with an affinity for sustainability and with liquid assets of at least CHF 100,000.
Dr. Anders Bally
Dr. Anders Bally, CEO and Co-Founder of radicant said,
&#8220;The license to launch a bank will enable us to offer a broad range of sustainable financial services from a single source.
 
This crucial milestone takes us a big step further in achieving our vision as a true financial life companion that can not only take care of all personal finances in the longer term but also support a sustainable lifestyle based on payment and investment behavior.&#8221;
Roland Kläy
Roland Kläy, radicant’s CFO and Co-Founder, who is overseeing the FINMA process, said,
&#8220;With the license of FINMA to operate a bank, we have achieved a significant milestone in the development of radicant.
 
We achieved this milestone in the shortest possible time, which makes me particularly proud!&#8221;
The post BLKB’s Digital Bank radicant Secures a Banking License From FINMA appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/blkbs-digital-bank-radicant-secures-a-banking-license-from-finma</link><guid>2645</guid><author>Administrator</author><dc:content /><dc:text>BLKB’s Digital Bank radicant Secures a Banking License From FINMA</dc:text></item><item><title>Switzerland Has Minted 9 Fintech Unicorns So Far</title><description><![CDATA[In 2021, Swiss fintech funding activity regained some of its strengthen with companies in the space raising a total of US$530 million, data from Dealroom show.
The sum represents a 129% increase from 2020, and follows a three-year period of stagnation during which annual fintech funding hovered in the US$200 million – US$300 million range, after peaking in 2017 at US$532 million.
Despite the dip, fintech funding activity has remained somewhat consistent throughout the years and has helped push startups’ valuations further up. A new analysis by the Swiss ICT Investor Club (SICTIC) found that since 2013, a total of 45 unicorns with Swiss origins have been minted, with half of them reaching the coveted status in the past three years.
45 Swiss-native unicorns have been minted since 2013, Source: The Swiss ICT Investor Club (SICTIC), April 2022
Of these 45 companies, nine are fintech startups and fintech-focused blockchain projects (excluding Ethereum and Near) that cover a broad range of subsegments including digital assets, investment, insurtech and lending.
These nine Swiss-native fintech unicorns are:
Curve (reached unicorn startup in 2021)

Founded in 2019, Curve is an exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading, and low risk, supplemental fee income for liquidity providers, without an opportunity cost.
Curve allows users (and smart contracts like 1inch, Paraswap, Totle and Dex.ag) to trade between DAI and USDC with a bespoke low slippage, low fee algorithm designed specifically for stablecoins and earn fees.
Waves (2021)

Launched in 2016, Waves is a global open source platform designed to enable users to create and launch custom crypto tokens.
Waves allows for the creation and trade of tokens without the need for extensive smart contract programming. Rather, tokens can be created and managed via scripts that run in user accounts on the Waves blockchain.
The enterprise-ready platform emphasizes on security, easy digital asset operations (including creation, transfer, exchange) and straightforward user experience.
Nexo (2020)

Launched in 2019, Nexo claims to be one of the world’s leading regulated institution for digital assets. Nexo’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient instant crypto credit lines, a high-yield earn crypto interest product, send and pay capabilities, and sophisticated trading and over the counter (OTC) services, all the while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet.
Nexo claims it manages assets for over 4 million users across 200+ jurisdictions and has processed over US$80 billion in transactions since its launch.
Tezos (2020)

Tezos is an open source blockchain protocol for assets and applications backed by a global community of validators, researchers, and builders. Tezos was built to facilitate formal verification, a technique that boosts the security of the most sensitive or financially weighted smart contracts by mathematically proving the correctness of the code governing transactions.
The non-profit Tezos Foundation, based in Zug, Switzerland, was created in 2017 to support the project and raised US$232 million in bitcoin and ether in one of the biggest initial coin offerings (ICOs) at the time.
Aave (2020)

Aave is a decentralized, open-source, and non-custodial liquidity protocol on the Ethereum blockchain. Depositors earn interest by providing liquidity to liquidity pools, while borrowers can obtain liquidity by tapping into these pools with variable and stable interest rate options.
The Aave protocol is unique in that it tokenizes deposits as aTokens, which accrue interest in real time. It also features access to flash loans and credit delegation as uncollateralized borrowing options.
Numbrs (2019)

Numbrs started off in 2013 as an account aggregation app but pivoted earlier this year to become a bitcoin storage vault and wallet, and moved its headquarters from Zurich to Crypto Valley Zug.
The company now provides the Numbrs Bitcoin Account, an institutional grade self-custody solution to store Bitcoin in a high security military bunker. The solution comes with transfer and payment capabilities, 24/7 service, as well as cutting edge research and data-driven analysis.
Wefox (2019)

Founded in November 2014 in Switzerland as FinanceFox, Wefox is a full-stack digital insurance company that aims to disrupt the insurance business through the deployment of technology.
With Wefox, brokers can conclude paperless insurance policies for their clients within a few minutes. Claims are filed digitally and settled on the same day in over 60 percent of cases. Policies are available in Germany, Italy, Poland, and Switzerland.
Avaloq (2017)

Founded in 1985, Avaloq is a provider of core banking software and a global leader in digital banking solutions, serves more than 150 customers in 30 countries worldwide. Avaloq’s key business activities include the provision of software as a service (SaaS) and business process as a service (BPaaS) for wealth management and other applications.
Headquartered in Switzerland, Avaloq has more than 2,000 employees and has a presence in the world’s most demanding financial and innovation centers, including Berlin, Frankfurt, Hong Kong, London, Luxembourg, Madrid, Paris, Singapore, Sydney and Pune. In 2020, the company was acquired by Japan-based NEC Corporation for CHF 2.05 billion.
Leonteq (2015)

Founded in 2007, Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes.
Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. The company further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees.
Leonteq has offices and subsidiaries in 13 countries, through which it serves over 50 markets. Leonteq is listed on the SIX Swiss Exchange.
 
Featured image credit: Edited from Unsplash
The post Switzerland Has Minted 9 Fintech Unicorns So Far appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/switzerland-has-minted-9-fintech-unicorns-so-far</link><guid>2643</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/45-Unicorns-Switzerland.jpeg?x30842</dc:content ><dc:text>Switzerland Has Minted 9 Fintech Unicorns So Far</dc:text></item><item><title>Swiss Fintech Awards Reveals Its Top 10 Fintech Startups List for 2022</title><description><![CDATA[The Swiss Fintech Awards 2022 has revealed the top 10 startups of the year for its early stage and growth stage categories.
The purpose of the Swiss Fintech Awards is to bolster the country&#8217;s fintech innovators and ecosystem. The awards specifically recognise outstanding fintech startups and influencers.
The winners were chosen by a renowned jury consisting of 20 fintech experts. The grand finale and awards ceremony will take place during the Swiss Fintech Awards Night 2022 after the annual flagship fintech conference by Finanz und Wirtschaft Forum “Fintech 2022” on June 29 in Zurich.
A number of CEOs will be attending the conference again this year.
The esteemed speakers include Anders Bally (CEO of the new Radicant Bank), Piarangelo Campopiano (CEO Smile Insurance), Manuel Kunzelmann (CEO Migros Bank), Jürg Ritz (Head of Baloise Bank and board member Basler Versicherung) and Stephanie Wickihalder (President of Swiss Fintech Innovations).
Other exciting personalities who will also be making an appearance include Will Page, formerly the Chief Economist at Spotify, as well as Prof. Markus Gross, Director of Disney Research|Studios.
The category “Early Stage Startup of the Year” is for fintechs that do not have a product-market-fit yet. These could be startups which are currently working on a first demo, prototype or which are about to go-to-market with the first product or service.
On the other hand, the “Growth Stage Startup of the Year” awards those who already have a product-market-fit and are on a growth trajectory.
Early Stage Startup of the Year

Alquant

Alquant is a fintech that provides customised hedging solutions.

DeepJudge
DeepJudge offers the next-generation AI-powered document processing tools.

Impaakt

Social and environmental impact ratings.

Pelt8

Pelt8 helps companies implement sustainability programs and save 100s hours.

Relio

First neobank in CH for B2B clients with focus on automating compliance.

Growth Stage Startup of the Year

aXedras

aXedras is connecting and digitising the global precious metal industry.

Securosys
Securing the cloud and digital identities, signatures, and assets.

Stableton Financial

Next-gen curated marketplace for top-tier alternative investments.

Tradeplus24
Tradeplus24 offers structured lending solutions to SMEs.

WealthArc

Data-driven wealth management platform.

The post Swiss Fintech Awards Reveals Its Top 10 Fintech Startups List for 2022 appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/swiss-fintech-awards-reveals-its-top-10-fintech-startups-list-for-2022</link><guid>2642</guid><author>Administrator</author><dc:content /><dc:text>Swiss Fintech Awards Reveals Its Top 10 Fintech Startups List for 2022</dc:text></item><item><title>LexisNexis Risk Solutions Acquires Behavioral Biometric Tech Provider BehavioSec</title><description><![CDATA[LexisNexis Risk Solutions, which is a part of RELX, has announced the acquisition of BehavioSec, an advanced behavioral biometrics technology provider.
Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioral biometrics solution that uses behavior analysis for continuous authentication to establish identity trust and help prevent fraud.
Solutions from BehavioSec will become a part of the Business Services group within LexisNexis Risk Solutions and enhance its device and digital identity-focused offerings, such as LexisNexis ThreatMetrix.
BehavioSec brings the ability to convert complex mobile signals from touchscreen and sensors into rules and advanced mobile behavioral biometric-based authentication capabilities, complementing the browser-based solutions within ThreatMetrix.
By integrating offerings from BehavioSec into ThreatMetrix, customers will also benefit from continuous authentication, advanced machine learning capabilities and additional behavioral data for enhanced authentication processes.
The new fraud prevention tool will allow access to behavioral biometric solutions by larger organizations when combined with ThreatMetrix, while serving small to mid-sized organizations seeking a stand-alone behavioral biometrics offering.
Rick Trainor
Rick Trainor, Business Services CEO at LexisNexis Risk Solutions said,
“Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today.
 
Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction across the consumer journey.”
Dr. Neil Costigan
Dr. Neil Costigan, CEO of BehavioSec, added,
“I am looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities.”
The post LexisNexis Risk Solutions Acquires Behavioral Biometric Tech Provider BehavioSec appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/lexisnexis-risk-solutions-acquires-behavioral-biometric-tech-provider-behaviosec</link><guid>2641</guid><author>Administrator</author><dc:content /><dc:text>LexisNexis Risk Solutions Acquires Behavioral Biometric Tech Provider BehavioSec</dc:text></item><item><title>HCL Technologies Signs Deal to Acquire Wealth Management Specialist Confinale</title><description><![CDATA[HCL Technologies UK Limited, a wholly owned subsidiary of global technology company HCL Technologies (HCL), has signed a definitive agreement for the acquisition of Confinale, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner.
Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq&#8217;s consulting, implementation and management capabilities.
Founded in 2012, Confinale focuses on IT consulting in key specialist areas in the banking and wealth management sector.
Confinale has one of the largest independent pools of Avaloq-certified specialists in Europe and its in-house developed products and solutions accelerate the implementation of the Avaloq platform.
It is one of only four companies to be awarded the title of Avaloq Premium Implementation Partner.
With offices in Switzerland including Zurich, Zug and Geneva; as well as Düsseldorf and London, Confinale works with a host of banks and wealth advisors.
The intellectual properties that are a part of this acquisition support HCL’s strategy to create specialised vertical domain capabilities.
This builds upon HCL’s recently expanded global partnership with Avaloq and its acquisition of German IT consulting company gbs in association with apoBank in December 2021.
The acquisition is subject to customary closing conditions, which is expected to be completed in due course.
Roland Staub
“Becoming part of HCL is an exciting new chapter for Confinale. We strongly believe in the need for banking expertise combined with software competence and HCL is the perfect fit for this.
 
It is a truly global player with strong heritage in the financial services sector. HCL’s reach will enable us to further our growth and at the same time expose our team to new learning and innovation opportunities.”
said Roland Staub, CEO, Confinale.
Rahul Singh
“This acquisition significantly strengthens HCL’s digital wealth and asset management capabilities and expands our presence in the heart of the global investment banking sector.
 
We welcome the team from Confinale and look forward to continuing to drive digital banking innovation alongside Avaloq.”
said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies.
 
 
The post HCL Technologies Signs Deal to Acquire Wealth Management Specialist Confinale appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/hcl-technologies-signs-deal-to-acquire-wealth-management-specialist-confinale</link><guid>2640</guid><author>Administrator</author><dc:content /><dc:text>HCL Technologies Signs Deal to Acquire Wealth Management Specialist Confinale</dc:text></item><item><title>Decrypt Media Spins Out From Consensys Mesh Following US$10 Million Raise</title><description><![CDATA[Decrypt Media has just announced its successful spinout from ConsenSys Mesh, the blockchain accelerator and incubator, after raising US$10 million in funding on a US$50 million post-money valuation.
The fundraise was joined by Hack.VC, Hashkey Capital, Canvas Ventures, Protocol Labs, SK Group, as well as four DAOs (Global Coin Research DAO, Own.fund, Honey DAO, and Orange DAO) and a number of strategic individuals.
Decrypt was co-founded by magazine veteran Josh Quittner (Time Inc.), Ilan Hazan, and Ryan Bubinski during the “crypto winter” of 2018.
It was launched inside the ConsenSys Mesh incubator program with the aim of helping the world understand crypto and Web3 and has since grown to 5 million average monthly unique visitors and 25 full-time employees.
In 2021, the publication brought on Dan Roberts (Yahoo Finance, Fortune) as Editor-in-Chief, Jeff John Roberts (Fortune) as Executive Editor, and journalists from ABC News and The Street.
Veteran media and technology executive Alanna Roazzi-Laforet (Condé Nast, IAB), who joined as Publisher and Chief Revenue Officer, launched the company’s production arm Decrypt Studios, a new breed of Web3 studio that partners with brands and creators to curate NFT and metaverse activations.
Decrypt plans to invest in further editorial growth and live video efforts at Decrypt Media, and will continue to build out Decrypt Studios, which has seen success with branded NFTs and metaverse activations in fashion, entertainment, and real estate for clients.
It will also invest heavily in PubDAO, the decentralized newswire Decrypt co-launched in October with other partners and advisors that is being used as a way to source stories, press releases, and other crypto work in a truly Web3-native way.
Josh Quittner
“The first three years of Decrypt were foundational, and ConsenSys Mesh gave us all the support we needed to grow without the pressures that often come from being investor-backed. With the addition of Dan, Jeff, and Alanna, along with a global roster of powerhouse reporters, Decrypt took a huge leap in credibility and mindshare.
 
These early successes vaulted us into the top three crypto publications in traffic and reputation. Today, we’re pleased to announce we’re ready to take the next step into our independence. Our deepest thanks and gratitude to Joe Lubin, Michael Kriak, and the team at Mesh who helped to ensure the success of this venture into a publication on the vanguard of crypto press.”
says Quittner.
 
 
The post Decrypt Media Spins Out From Consensys Mesh Following US$10 Million Raise appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/decrypt-media-spins-out-from-consensys-mesh-following-us10-million-raise</link><guid>2639</guid><author>Administrator</author><dc:content /><dc:text>Decrypt Media Spins Out From Consensys Mesh Following US$10 Million Raise</dc:text></item><item><title>Binance Is Now a Fully Regulated Digital Asset Service Provider in France</title><description><![CDATA[Binance announce that Binance France has been granted a Digital Asset Service Provider (DASP) registration by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR). 
This milestone achievement represents Binance’s first DASP in Europe.
The AMF regulates and safeguards the French financial markets and ensures financial literacy among investors. The ACPR is an independent authority monitoring banks and insurance companies in France. With the approval and under the supervision of AMF and ACPR, this DASP registration will allow Binance France to operate in France.
Compliance and regulation are critical factors for the success of the crypto and blockchain industry. Over the years, Binance has taken measures to ensure compliance, including growing our international compliance team and advisory board, as well as actively helping to fight fraud and ransomware. We are pleased that our efforts have paid off, and meet stringent French compliance standards to successfully obtain the DASP registration.
Changpeng Zhao
Changpeng Zhao (CZ), founder and CEO of Binance, said: 

“Effective regulation is essential for the mainstream adoption of cryptocurrency. The French DASP and AML/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France.


We are grateful to the AMF and ACPR, who demonstrated a commitment to innovation that made it possible for Binance to navigate the entire application process. Since day one, Binance has always put its users first, and now the crypto community can have even further confidence in Binance France as a trusted DASP registered in France.”

As the first major global crypto exchange to register in France, we will be able to bring cryptocurrency services and education to millions.
What’s Next?
According to Binance Blog post, they plan to significantly scale operations in France. In line with their mission to be the infrastructure services provider for the blockchain ecosystem, they have plans to expand the team to pursue further infrastructure development.
 
Featured image credit: Edited from Unsplash
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]]></description><link>https://fintechnews.eu/binance-is-now-a-fully-regulated-digital-asset-service-provider-in-france</link><guid>2638</guid><author>Administrator</author><dc:content /><dc:text>Binance Is Now a Fully Regulated Digital Asset Service Provider in France</dc:text></item><item><title>Synpulse Invests in F10 to Boost the Fintech Ecosystem’s Growth</title><description><![CDATA[Synpulse, a management consultancy to global financial service providers, has announced that it will invest the equivalent of 1% of its annual revenue into the fintech startup accelerator F10.
This is a part of F10&#8217;s funding round that was announced in late April which was led by Five T Fintech.
The funds are intended to allow F10 to grow both into new geographies, as well as in its current hubs in Europe and Asia.
This partnership provides the two companies the opportunity to identify the most promising startups and support their rapid growth.
Additionally, it provides Synpulse the chance to pinpoint the new services that could become relevant to its customers.
Raphael Bianchi, CEO of Synpulse Switzerland has joined the F10 Board to directly contribute to the strategic direction and innovation of the growing fintech ecosystem.
Raphael Bianchi
Raphael Bianchi, Senior Partner and CEO of Synpulse, Switzerland said,
“F10 provides vital support in discovering and growing the new innovative services and talented teams that our industry needs. Fintechs have brought a revolution to what has always been a very traditional industry.
 
By working together, we hope to make global connections between the most innovative solutions that are being created and the more established players whose adoption will make them part of the mainstream.”
Andreas Iten
Andreas Iten, CEO and Co-Founder of F10 said,
&#8220;We are incredibly excited about Synpulse&#8217;s investment into F10 and about the synergies that this creates.
 
F10 startups will also benefit greatly from Synpulse&#8217;s global network. We are looking forward to jointly pushing innovation in the financial industry further.&#8221;
The post Synpulse Invests in F10 to Boost the Fintech Ecosystem’s Growth appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/synpulse-invests-in-f10-to-boost-the-fintech-ecosystems-growth</link><guid>2636</guid><author>Administrator</author><dc:content /><dc:text>Synpulse Invests in F10 to Boost the Fintech Ecosystem’s Growth</dc:text></item><item><title>Using E-Signatures to Ensure Business Continuity in an Increasingly Digital World</title><description><![CDATA[The COVID-19 pandemic has accelerated the trend towards digitisation. Suddenly, government agencies, organisations, and businesses of every industry have been thrust into a world of remote processes, and the need for technology that enables business continuity has never been higher.
Businesses are transforming customer-facing transactions and the customer experience as a whole by shifting away from paper and towards the adoption of electronic signatures across the enterprise.
Along the way, they’re leveraging new technologies like digital identity verification to optimise higher risk digital processes and videoconferencing with co-browsing to reintroduce the human element to remote customer transactions.
Electronic signatures play a crucial role in digitising processes across organisations, but there are still a lot of questions around e-signatures.
This article answers important questions and addresses key considerations about e-signatures.
What Is an Electronic Signature?
 

An e-signature is first and foremost a legal concept. Generally, it is about having a lasting record of an individual’s intent.
Digital signature refers to the encryption technology used in a number of e-business and e-commerce applications, including e-signatures.
There are generally three forms of electronic signatures recognised around the world namely Basic, Advanced and Qualified.
Organisations often wonder whether e-signatures are legal. The answer is: yes. Over 90 countries around the world have passed legislations affirming the legality of e-signatures.
There is no longer any question about whether electronic signatures are legal.
The trend toward wider acceptance globally is clear.
However, specifics vary from country to country, so it is important for organisations to understand the laws and regulations in the jurisdictions where they operate.
Are E-signatures Secure?
 

Again, the answer is yes.
Security is understandably a top concern with digital transactions, so it is important an electronic signature provider meets the highest security standards while ensuring a trusted experience between an organisation, its employees, and its customers.
That means more than simply passing a security audit or obtaining a certification.
Security best practices include:
ID Verification: This is a signer authentication method to validate a signer’s identity before they gain access to critical contracts and high-value agreements.
ID verification with facial comparison enables a signer to validate their identity using their government-issued photo ID and a ‘selfie’, which is then compared with their photo ID to provide an additional layer of identity assurance.
ID verification provides a high level of signer authentication and supports fraud prevention.
User Authentication: A broad range of options to verify the identity of signers prior to giving them access to documents such as e-mail or SMS.
Document Security: Unlike most e-signature solutions, OneSpan Sign uses digital signature technology to tamper-seal documents after each signer and invalidates documents if any changes are made.
This built-in security ensures the integrity of the e-signed document.
Robust Audit Trail: This makes it easy to access details about the transaction to prove compliance.
An electronic audit trail is permanently embedded within the e-signed document for easy, one-click verification.
OneSpan Sign is the only solution in the market to capture a single audit trail of the entire agreement process—from identity verification and authentication to e-signature.
This includes the ID and authentication check method used and the detailed results of the verification.
As a result, you get a complete picture of the transaction with strong identity assurance to demonstrate compliance.
Virtual Room Recreates the Power of a Face-to-face Meeting Virtually
 

In today’s anywhere economy, the human element is more important than ever.
OneSpan’s Virtual Room helps you deliver a secure and interactive experience to guide customers through the agreement process and effectively close the deal.
It accomplishes this by bringing together electronic signature, web-enabled videoconferencing, and rich collaboration capabilities in one comprehensive solution.
Consumers get the financial help they need from the convenience of their home or office, and an organisation gets access to a new, high-touch channel to engage with customers as humanly as possible.
OneSpan’s Virtual Room&#8217;s highlights include:
Fast and Convenient: Built-in videoconferencing eliminates the need for in-person meetings to review and sign documents.
Real-time Assistance: Give customers the personalised attention, answers, and help they need in real time.
Fully Branded Experience: Organisations can add their logo and colors to keep the spotlight on their brand.
Secure Agreements: Protect data and documents with bank-grade security, digital signature encryption, and strong identity proofing capabilities
Strong Electronic Evidence: Strengthen security and compliance with vendor-independent audit trails with the option to record the virtual signing session.
All-in-one Solution: Built-in e-signature, videoconferencing, and rich collaboration features remove the need to patch multiple solutions together.
There are many ways to fine tune electronic signatures for your specific user groups.
Check out OneSpan&#8217;s Beginner&#8217;s Guide to E-Signatures to learn everything you need to know to get an e-signing project off the ground.

The post Using E-Signatures to Ensure Business Continuity in an Increasingly Digital World appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/using-e-signatures-to-ensure-business-continuity-in-an-increasingly-digital-world</link><guid>2635</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/05/OS-IMG-Authentication-Images-1.jpeg?x30842</dc:content ><dc:text>Using E-Signatures to Ensure Business Continuity in an Increasingly Digital World</dc:text></item><item><title>McLaren F1 Racing Partners with Cryptoexchange</title><description><![CDATA[OKX,  formerly known as OKEx, announced a major multi-year partnership with McLaren Racing, becoming the Official Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports Team from 2022.
The partnership unites two global brands who value innovation and accessibility. As Official Primary Partner, OKX will be the largest partner to McLaren Racing, the home to one of the most successful Formula One teams and greatest drivers of all time.
As the world’s second largest exchange by trading volume, OKX is on a mission to supercharge the experience for McLaren’s global audience, elevating the team and its fans by bringing crypto onto the track.
On the 2022 Miami Grand Prix on Sunday, May 8th, OKX branding will be carried on the rear wing, front wing, mirrors, cockpit side, nose, and inner halo of the McLaren MCL36 F1 cars, on the race suits and helmets of McLaren F1 drivers Lando Norris and Daniel Ricciardo, and on the McLaren F1 Team kit and McLaren Shadow Team kit.
Haider Rafique
Haider Rafique, Chief Marketing Officer at OKX, said:
“The McLaren brand stands for everything that is great about F1. Speed, reliability, and performance are at the core of any top-class crypto trading platform. We innovate on our platform every day, ensuring the highest trade execution speed to our users, requiring ‘pit-like’ team collaboration and instincts.”
Zak Brown
Zak Brown, CEO, McLaren Racing, said:
“We are thrilled to announce this primary partnership with OKX ahead of the Miami GP. In a rapidly-evolving field, OKX is a long-established crypto brand that brings innovation, analytics and accuracy to accomplish great things.
“The first-ever Miami Grand Prix is the perfect occasion for us to launch this significant partnership, through which we will collaborate with OKX to take our fan experience to all new levels.”
OKX is a place where people can trade, invest, and hold thousands of cryptos, digital assets and collectibles.

The post McLaren F1 Racing Partners with Cryptoexchange appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/mclaren-f1-racing-partners-with-cryptoexchange</link><guid>2632</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>McLaren F1 Racing Partners with Cryptoexchange</dc:text></item><item><title>McLaren F1 Racing Partners with Crypto Exchange</title><description><![CDATA[OKX,  formerly known as OKEx, announced a major multi-year partnership with McLaren Racing, becoming the Official Primary Partner of the McLaren Formula 1 Team and McLaren Shadow esports Team from 2022.
The partnership unites two global brands who value innovation and accessibility. As Official Primary Partner, OKX will be the largest partner to McLaren Racing, the home to one of the most successful Formula One teams and greatest drivers of all time.
As the world’s second largest exchange by trading volume, OKX is on a mission to supercharge the experience for McLaren’s global audience, elevating the team and its fans by bringing crypto onto the track.
On the 2022 Miami Grand Prix on Sunday, May 8th, OKX branding will be carried on the rear wing, front wing, mirrors, cockpit side, nose, and inner halo of the McLaren MCL36 F1 cars, on the race suits and helmets of McLaren F1 drivers Lando Norris and Daniel Ricciardo, and on the McLaren F1 Team kit and McLaren Shadow Team kit.
Haider Rafique
Haider Rafique, Chief Marketing Officer at OKX, said:
“The McLaren brand stands for everything that is great about F1. Speed, reliability, and performance are at the core of any top-class crypto trading platform. We innovate on our platform every day, ensuring the highest trade execution speed to our users, requiring ‘pit-like’ team collaboration and instincts.”
Zak Brown
Zak Brown, CEO, McLaren Racing, said:
“We are thrilled to announce this primary partnership with OKX ahead of the Miami GP. In a rapidly-evolving field, OKX is a long-established crypto brand that brings innovation, analytics and accuracy to accomplish great things.
“The first-ever Miami Grand Prix is the perfect occasion for us to launch this significant partnership, through which we will collaborate with OKX to take our fan experience to all new levels.”
OKX is a place where people can trade, invest, and hold thousands of cryptos, digital assets and collectibles.

The post McLaren F1 Racing Partners with Crypto Exchange appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/mclaren-f1-racing-partners-with-crypto-exchange</link><guid>2637</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>McLaren F1 Racing Partners with Crypto Exchange</dc:text></item><item><title>Worldline kooperiert mit dem Fintech- Kredit-Prüf-Unternehmen Algoan</title><description><![CDATA[Worldline kooperiert ab sofort mit dem Französischen Fintech-Unternehmen Algoan, einem führenden Anbieter von Kreditwürdigkeitsprüfungen.
Ziel ist es, gemeinsam eine innovative Lösung zur Bonitätsprüfung zu entwickeln, die Kreditgebern und Dienstleistern hilft, schnelle und gleichzeitig sichere Kreditentscheidungen zu treffen. Der Dienst wird APIs und Machine Learning nutzen und sich auf Transaktionsdaten aus dem Open Banking stützen.
Kreditinstitute, Kreditnehmer und Händler haben durch die Zahlungsdienstrichtlinie PSD2 den sicheren und nutzergesteuerten Rahmen, um die Möglichkeiten für einen schnelleren, gerechteren und datengesteuerten Ansatz zur Kreditwürdigkeitsprüfung zu nutzen. Langfristig sollen im Sinne des sogenannten Open Banking diese klaren Vorteile für alle Parteien nutzbar gemacht werden.
Der Vorgang der Kreditwürdigkeitsprüfung in den verschiedenen europäischen Ländern bringt ein unterschiedliches Mass an manuellen Verfahren und Bewertungen mit sich. Diese können mit menschlichen Fehlern behaftet und für die Bearbeitung eines Kreditantrags sowohl für Kreditgeber als auch für den Kreditnehmer sehr zeitintensiv sein.
Die traditionellen Bewertungsmethoden entsprechen nicht mehr den Erwartungen der Verbraucher. Sie stehen im Widerspruch zur digitalen Transformation und den damit verbundenen regulatorischen Änderungen. Hier bleibt aktuell viel Innovationspotenzial ungenutzt. Denn der Prozess der Kredit- und Risikoprüfung könnte von den Möglichkeiten der PSD2-Richtlinie stark profitieren: Open Banking und Open Finance unterstützen bessere und schnellere Services für Verbraucher und Institutionen.
Potenziale von Open Banking nutzen
Mit der Partnerschaft verbindet Worldline seine europaweite Abdeckung im Open Banking und seine Expertise im digitalen Bankwesen mit der Innovationskraft von Algoan im Bereich der Kreditwürdigkeitsprüfung, die auf erstklassigen Machine-Learning-Algorithmen beruht.
Michael Steinbach
Michael Steinbach, Managing Director Financial Services bei Worldline:
„Bei Worldline suchen wir nach innovativen Partnern, die unsere Vision teilen und es uns ermöglichen, unsere Open Banking Services zu erweitern und zu optimieren. Als führender Zahlungsdienstleister und einer der grössten Open-Banking-Anbieter in Europa sind wir bestrebt, das volle Potenzial von Open Banking für alle Marktteilnehmer zu erschliessen. Mit Algoan werden wir unseren Kunden eine durchgängig schnelle und kosteneffiziente White-Label-Lösung zur Bewertung der Kreditwürdigkeit anbieten.“
Mit dem auf Open Banking basierenden Tool zur Kreditwürdigkeitsprüfung können Banken, Kreditinstitute, Kreditgeber und Dienstleister die Kreditwürdigkeitsprüfung auf ein nächstes Level heben und somit eine genauere Prüfung, einen besseren Datenzugang und eine effizientere Bearbeitung erzielen. Diese Innovation kann in vielen Anwendungsfällen wertvoll sein. Zum Beispiel für Privatfinanzierungen und Verbraucherkredite, Autofinanzierungen und Leasing, Finanzierungen durch Händler und BNPL (Buy Now Pay Later), Versicherungen und Versorgungsunternehmen. Das Herzstück dieses neuen Bonitätsprüfungs-Tools ist die Open Banking API von Worldline, die Zugang zu mehr als 3&#8217;500 Banken in 19 Ländern in ganz Europa bietet. Worldline ist einer der grössten Open Banking-Anbieter in Europa.
Michael Diguet
Michael Diguet, CEO bei Algoan:
„Die Kreditwürdigkeitsprüfung im Open Banking erfährt eine Dynamik, die sich grosse Unternehmen zu eigen machen sollten. Wir freuen uns über die Zusammenarbeit mit Worldline und sind stolz darauf, dieses weltweit führende Unternehmen mit unserer marktführenden Kreditscoring-API unterstützen zu können. Diese neue Zusammenarbeit ist ein weiterer Meilenstein für das internationale Wachstum von Algoan. Wir freuen uns darauf, gemeinsam die Kreditwirtschaft durch die Nutzung der Open-Banking-Fähigkeiten von Worldline zu revolutionieren.“
Vorteile für Darlehensgeber und Darlehensnehmer
Eine Kreditwürdigkeitsprüfung auf der Grundlage von Open Banking bringt sowohl Kreditgebern als auch Kreditnehmern erhebliche Vorteile. Da der Kreditgeber die Daten von der Bank erhält, ist die Gültigkeit der Daten gewährleistet und somit das Betrugsrisiko verringert. Auf der Grundlage einer genaueren Bewertung können Antragsteller akzeptiert werden, die sonst möglicherweise abgelehnt worden wären. Durch den Zugang zu den Kontodaten der Kunden auf Grundlage deren Zustimmung können sich die Kreditgeber schneller einen besseren Überblick über die tatsächliche finanzielle Situation der Kunden verschaffen und so den Bedürfnissen des Kreditnehmers entsprechen, ohne eine Überschuldung zu riskieren. Darüber hinaus kann der Kreditgeber eine schnelle, unkomplizierte Kundenbetreuung anbieten, während der Kreditnehmer eine faire Bonitätsprüfung und eine kürzere Zeit bis zur Kreditvergabe erhält.
 
Ausgewählter Bildnachweis: bearbeitet von Freepik
The post Worldline kooperiert mit dem Fintech- Kredit-Prüf-Unternehmen Algoan appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/worldline-kooperiert-mit-dem-fintech-kredit-pruf-unternehmen-algoan</link><guid>2633</guid><author>Administrator</author><dc:content /><dc:text>Worldline kooperiert mit dem Fintech- Kredit-Prüf-Unternehmen Algoan</dc:text></item><item><title>FIFA Announces Partnership With Blockchain Company Algorand</title><description><![CDATA[FIFA has teamed up with Zug based blockchain technology company Algorand to agree a sponsorship and technical partnership deal.
The agreement means Algorand will become the official blockchain platform of FIFA and provide the official blockchain-supported wallet solution. As per the sponsorship agreement, Algorand will be a FIFA World Cup Qatar 2022 Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023 Official Sponsor.
Blockchains allow non-editable data to be permanently recorded and distributed on digital networks, while also facilitating innovations and ensuring safe, untampered exchange of value and assets such as non-fungible tokens (NFTs), and through blockchain-enabled wallets holding digital assets.
As part of the agreement, Algorand will also assist FIFA in further developing its digital assets strategy, while FIFA will provide sponsorship assets including advertising, media exposure and promotional opportunities.
Gianni Infantino
On the occasion of the announcement, FIFA President Gianni Infantino said:
“We are delighted to announce this partnership with Algorand. The collaboration is a clear indication of FIFA’s commitment to continually seeking innovative channels for sustainable revenue growth for further reinvestment back into football ensuring transparency to our stakeholders and world-wide football fans – a key element of our Vision to make football truly global. I look forward to a long and fruitful partnership with Algorand.”
Founded by cryptographer Silvio Micali, the Algorand blockchain is the technology of choice for over 2000 global organisations, governments and digital-native defi applications. In particular, Algorand helps organisations in finance, gaming, music, art and the sports world that seek to adopt Web3 digital capabilities as a path to accelerate growth, inclusiveness, transparency and innovation in an environmentally responsible way.
Silvio Micali
From the beginning, Algorand has focused on building technology that promotes inclusivity, opportunity and transparency for all,” said Silvio Micali, founder of Algorand.
“This partnership with FIFA, the most globally recognised and distinguished organisation in sports, will showcase the potential that the Algorand blockchain has to transform the way we all experience the world’s game.”
The post FIFA Announces Partnership With Blockchain Company Algorand appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/fifa-announces-partnership-with-blockchain-company-algorand</link><guid>2631</guid><author>Administrator</author><dc:content /><dc:text>FIFA Announces Partnership With Blockchain Company Algorand</dc:text></item><item><title>poinz: Lancierung von Schweizer Cashback-Währung «Swiss Loyalty»</title><description><![CDATA[Der Schweizer Loyalty Netwerk«poinz» lanciert umfangreiche Innovationen für das Portemonnaie und macht den Schritt zum Fintech Unternehmen.
Das grosse Update der poinz App bietet Kundinnen und Kunden ab sofort ein einzigartiges Cashback-Ökosystem, mit welchem sie beim Bezahlen Geld direkt in der App sammeln können. Dazu lanciert poinz ein eigenes Bezahlmittel und ist zudem als erstes Kundentreue-Programm in allen Bezahlterminals von Worldline integriert.
Mit viel Herzblut wurde intensiv bei poinz inhouse an der neuen poinz App gearbeitet. Nun ist der Launch des bisher grössten Updates der Schweizer Erfolgsgeschichte erfolgt. Mit «Swiss Loyalty» lanciert poinz eine so innovative wie einzigartige Cashback-Lösung, mit welcher direkt in der poinz App Geld gesammelt werden kann. Dabei kann poinz auf die Unterstützung mehrerer führender Unternehmen aus diversen Branchen zählen. Unter anderem arbeitet poinz eng mit Swisscard AECS GmbH zusammen. Sie gibt die «Swiss Loyalty Cards» (Gratiskreditkarten) heraus, mit welchen man weltweit Cashback sammeln kann. Das Cashback-Guthaben ist tagesaktuell in der poinz App ersichtlich.
Guido Müller
«Der Erfolg von poinz mit über 1&#8217;000 Markenpartnern und einer der grössten Mobile-Communities zeigt, dass Kundinnen und Kunden die Vorteile offener Punkteprogramme sehr schätzen»,
sagt Guido Müller, CEO von Swisscard.
«Wir sind stolz, Partner von poinz zu sein und ihre Kundinnen und Kunden mit den Swiss Loyalty Cards exklusiv mit bis zu 1% zusätzlichem Cashback zu belohnen.»
Mit der poinz Swiss Loyalty Visa Card können Kundinnen und Kunden bei über 100 Millionen Händlern in mehr als 200 Ländern und Regionen einfach, bequem und sicher bezahlen. Dabei bietet das innovative Cashback-Programm von poinz Karteninhabern einen echten Mehrwert beim alltäglichen Einkauf.
Mit Worldline hat poinz ein weiteres Schwergewicht an seiner Seite erklärt Robert Blum, Gründer und CEO von poinz:
Robert Blum
«Durch die Partnerschaft mit Worldline sind wir bildlich gesprochen in den meisten Bezahlterminals der Schweiz direkt integriert.» Somit können Swiss Loyalty Nutzerinnen und Nutzer zusätzlich und automatisch mit allen Kredit- und Debitkarten, Maestro oder Twint Cashback bei lokalen Swiss Loyalty Partnern wie Orell Füssli oder Subway sammeln. Weiter hat poinz mehr als 80 Onlineshops in der poinz App aufgeschaltet. Besucht man so beispielsweise den Onlineshop von Mediamarkt oder die Buchungsplattform der SWISS über die poinz App, sammelt man weiteren Cashback in der poinz App. Nochmals Blum: «Ein engagierter Swiss Loyalty Nutzer kommt schnell auf ein jährliches Sparpotential von mehr als CHF 300.»
Das gesammelte Cashback-Guthaben können die Nutzerinnen und Nutzer direkt auf ihr Bankkonto überweisen oder im ebenfalls neu lancierten poinz App Geschenkkarten-Shop einlösen. Schon zum Launch findet man beliebte Brands im Shop wie Apple, Zalando oder Sony. Selbst beim Einlösen von Guthaben sammelt man bereits wieder Cashback.
Weichen weiterhin auf Wachstum
poinz hat gemäss eigenen Angaben die Marke von 1’000’000 App-Downloads geknackt und sich selber mit einem vollumfänglichen Rebranding beschenkt. Noch in diesem Jahr sollen weitere Möglichkeiten zum Sammeln von Cashback aufgeschaltet werden. Blum verrät: «Egal ob mit oder ohne direkten Geldfluss –, mit Swiss Loyalty wird man im Alltag noch deutlich mehr profitieren können.»
The post poinz: Lancierung von Schweizer Cashback-Währung «Swiss Loyalty» appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/poinz-lancierung-von-schweizer-cashback-wahrung-swiss-loyalty</link><guid>2629</guid><author>Administrator</author><dc:content /><dc:text>poinz: Lancierung von Schweizer Cashback-Währung «Swiss Loyalty»</dc:text></item><item><title>Signicat Acquires UK-Based Anti-Fraud and Identity Technology Company Sphonic</title><description><![CDATA[Norway&#8217;s Signicat, a leading European providers of digital identity and electronic signature solutions, is acquiring all shares in the UK-headquartered anti-fraud company Sphonic for an undisclosed sum. Existing management shareholders will reinvest a substantial part of the consideration into Signicat.
Signicat has been growing rapidly in the last years, both organically and through acquisitions. The digital identity pioneer aims to be a single provider for the entire digital identity and anti-financial crime lifecycle across Europe. This includes identity solutions to support customer onboarding, authentication, e-signing, fraud management and risk management. Since 2019 Signicat has acquired five companies, including in the last year mobile authentication company Encap, electronic signing provider Dokobit, and identity proofing innovator Electronic IDentification.
Sphonic was founded in London in 2012 and is a pioneer in automating compliance decision processes. The company has a unique track record of helping financial services, fintechs, gaming operators and the payments ecosystem manage their client onboardings and risk assessments including activities such as credit checks, affordability checks, and other compliance checks. With this acquisition, Signicat will be able to extend its leading existing identity platform with Sphonic’s know your customer (KYC), know your business (KYB) and anti-money laundering (AML) solutions.
Asger Hattel
“With digital fraud continuing to rise globally, it has become critical to know that your customers are who they claim to be. With Sphonic’s leading team of professionals and their data orchestration and decisioning platform, we will be able to offer a more extensive range of onboarding services with highly flexible risk and compliance solutions &#8211; all of which can keep international customers safe from fraud,”
says Asger Hattel, CEO of Signicat.
Sphonic’s primary product, Workflow Manager, enables clients to customise, automate and manage compliance workflows seamlessly. Sphonic leverages around 100 of the world&#8217;s leading data and technology providers allowing banks and other institutions to access the best-in-breed technologies via a single API. The solution improves the quality of data and increases end-user insights that the customers can use to make an onboarding decision. It also reduces a client’s customer onboarding time from days to seconds and prevents customer drop-off rates. It prevents fraud and provides an experience fit for the digital age.
Sphonic has recently expanded its solution offering with a highly scalable real-time fraud &amp; AML transaction monitoring solution in addition to a case management system that also offers tools for visualising identity, fraud and AML data.
Andy Lee
“We are excited to become part of the Signicat family”
says Andy Lee, the founder and general manager of Sphonic.
“For the past 10 years we have built industry-leading solutions that solve some of the most complex onboarding and compliance challenges in heavily regulated industries for global digital payments, crypto, gaming and lending brands requiring rapid onboarding for their high-volume client base. With Signicat there was a great complementary fit. Now we are ready to accelerate our ambitions in new markets and verticals and creating a compelling joint global solution.”
Sphonic will continue as a separate business entity, named “Sphonic, a Signicat company”, for the short term, and then be fully integrated into Signicat. The Sphonic management team will form part of Signicat’s wider senior management team and Andy Lee will also take on the role as as Signicat’s UK Country Manager.
 
This article first appeared on fintechnordics.com

The post Signicat Acquires UK-Based Anti-Fraud and Identity Technology Company Sphonic appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/signicat-acquires-uk-based-anti-fraud-and-identity-technology-company-sphonic</link><guid>2630</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/Check-out-Fintech-News-Nordics.png?x30842</dc:content ><dc:text>Signicat Acquires UK-Based Anti-Fraud and Identity Technology Company Sphonic</dc:text></item><item><title>Swiss and Singapore Regulators Unveil Inaugural Point Zero Forum</title><description><![CDATA[The Swiss Secretariat for International Finance (SIF) and Elevandi announced the programme and speaker line-up for the inaugural Point Zero Forum, taking place on 21-23 June in Zurich, Switzerland.
Elevandi is a Company Limited by Guarantee (GLC) created by the Monetary Authority of Singapore (MAS) to manage the Singapore Fintech Festival (SFF).
The forum is organised in cooperation with the BIS Innovation Hub, MAS, and Swiss National Bank (SNB), and supported by Knowledge Partners including Bussmann Advisory, Ecosystm, Finance.Swiss, Milken Institute, Open Wealth Association, and Switzerland Global Enterprise.
Point Zero Forum will serve as the starting point for engaging investors and policymakers with innovators to advance the future of financial services (FOFS).
The forum is an exclusive invite-only, in-person gathering of select global leaders, founders, and investors to develop new ideas to advance the FOFS &#8211; decentralised finance and Web 3.0, embedded finance, and sustainable finance.
It also aims to drive investment activity by bringing together leading founders with VCs, private banking clients, family offices, and PE houses.
Attendees can look forward to dissecting regulatory considerations related to each FOFS development by bringing together public and private sector leaders
The forum will be two days of in-depth plenary sessions, deep-dive private roundtables and workshops, and exclusive sessions between founders and investors focusing on two significant new market opportunities built on Web 3.0 architecture.
The Forum will be graced by Heng Swee Keat (Singapore&#8217;s Deputy Prime Minister and Coordinating Minister for Economic Policies) and Ueli Maurer (Switzerland&#8217;s Federal Councillor and Head of the Federal Department of Finance).
The sessions will delve into the opportunities present within the crypto market and sustainable finance space.
Speakers at the forum


Deep-dive private roundtables at the forum
Fringe activities include brand-new investor day and innovation open houses
On the first day of the Forum (21 June), investors are invited to a closed-door session hosted by SIF and MAS.
The session will serve as a precedent for the Forum, where investors will be able to gain a perspective on the global market trends and business opportunities that are shaping the fintech scene, and how these topics will be addressed on the agenda during the main stage.
Also happening on 21 June are open houses hosted by BIS Innovation Hub, Crypto Valley Labs, ETH Zurich, F10, University of Zurich, and ZHAW Zurich University of Applied Sciences.
Registrations for these events are now open on the website.
﻿
The post Swiss and Singapore Regulators Unveil Inaugural Point Zero Forum appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/swiss-and-singapore-regulators-unveil-inaugural-point-zero-forum</link><guid>2628</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/Point-Zero-Forum.png?x30842</dc:content ><dc:text>Swiss and Singapore Regulators Unveil Inaugural Point Zero Forum</dc:text></item><item><title>10 Swiss and 4 Singaporean Companies Named Among World’s Top 100 Wealthtechs</title><description><![CDATA[Specialist research company Fintech Global has released its annual selection of the world’s top wealthtech firms, recognizing 2022’s 100 most innovative technology solution providers shaping the future of the investment industry.
Selected by a panel of analysts and industry experts from a list of more than 1,200 businesses, these 100 wealthtech leaders are recognized for their innovative use of technology to solve significant industry problems and generate efficiency improvements across the investment value chain.
Of the 100 companies that made it into the 2022 WealthTech100 list, 10 are from Switzerland and four are from Singapore, showcasing how these two jurisdictions are maintaining their leadership positions in both the wealth and tech industries. Today, we take a close look at these 14 companies, delving into their offerings and what they have been up to.
Switzerland
AlgoTrader

 
Founded in 2014, AlgoTrader is a world leader in institutional trading technology for digital assets. Covering the entire trade lifecycle AlgoTrader provides everything a trading company needs to run a fully automated operation, including market data, trading, back testing, reporting and trade reconciliation. Headquartered in Zurich, AlgoTrader has additional offices in New York and Singapore, and operates globally. The company has raised a total of US$12 million in funding.
Avaloq

 
Founded in 1985, Avaloq is a leader in core banking software, digital banking and digital wealth management. Designed for the new era of financial services simplicity, Avaloq’s solutions help financial institutions harness the power of automation and data science, boost operational efficiency and make their dealings with clients more personalized and profitable. Headquartered in Zurich, Avaloq serves over 150 clients based in more than 30 countries. The company was acquired by Japanese multinational information technology and electronics corporation, NEC Corporation, in 2020 for CHF 2.05 billion.
Etops

 
Founded in 2010, Etops offers a broad range of solutions and services for the financial industry covering the entire value chain of private banks, asset and wealth managers, family offices and pension funds: from lead generation, customer relationship management (CRM) and on-boarding to portfolio management, compliance, and reporting. The company is headquartered in Cham and subsidiaries are held in Bratislava, Slovakia, and Leviv, Ukraine. Etops has been on an acquisition spree, snapping up Swiss wealthtech startup Evolute in 2020 and German software provider Coryx earlier this year. It claims more than 140 clients that manage a combined CHF 150 billion in assets.
Globalance

 
Founded in 2011, Globalance is an owner-managed Swiss private bank which invests in future movers. The company has successfully built up SAM Sustainable Asset Management, and what it claims to be the world’s first asset manager for sustainable investments. In collaboration with Dow Jones, Globalance also set a milestone by developing the Dow Jones Sustainability Index. It says it is the first bank in the world to offer portfolios and investment strategies in line with the United Nation’s two-degree climate target.
New Access

 
Founded in 2000, New Access is a provider of a scalable and modular core-to-digital solution suite designed to meet the specific requirements of the private banking and wealth management industry. Its product includes an advanced and comprehensive wealth management core banking system, a portfolio management system (PMS) and a digital client lifecycle management (CLM) platform. The company claims it supports more than 60 customers globally. It’s headquartered in Geneva with offices in Zurich, France, Singapore and Tunisia.
Sentifi

 
Established in 2012, Sentifi is an award-winning alternative data provider offering a mature artificial intelligence (AI) platform and investment analytics suitable for all types of retail and institutional investors. Sentifi analyses large volumes of unstructured data from social media, news, and blogs, capturing and making sense of investment signals. The company’s solutions are used by leading financial services organizations to gain unique insights on over 50’000 companies, currencies, commodities, and the events that impact their valuation. Its headquartered in Zurich and has a tech hub in Ho Chi Minh City, Vietnam.
SwissQuant

 
Founded in 2005, SwissQuant Group develops and delivers intelligent technology products and provides complementary or stand-alone services and consultancy surrounding quant-based technologies. The company’s focus on the core and long-term needs of its clients makes it the partner of choice for local and international financial and industrial clients, including UBS, Deutsche Bank Wealth Management and SIX. It’s a spin-off of ETH Zurich and is based in Zurich and London.
Tindeco

 
Founded in 2010, Tindeco is the provider of VISION, an award-winning fully integrated investment management platform used by banks, family offices and fund managers. VISION is comprised of the VISION CORE, an intelligent platform that provides portfolio, risk, order and client relationship management modules; and VISION Investments, a suite of modules designed to offer customized investment solutions in an efficient manner. Tindeco operates in Zug and via its subsidiary Tindeco UK in Edinburgh, Scotland.
WealthArc

 
Founded in 2015, WealthArc is a data-driven wealth management platform. WealthArc drastically reduces the time needed to complete data unification, consolidation, management, reporting, compliance, and other administrative tasks. It also provides connection to a growing network of the world’s leading 80+ custodian banks and highly secured data storage. WealthArc is headquartered in Zurich and closed last year a US$4 million round.
Wize by Teamwork

 
Founded in 1999, Teamwork is a Swiss company specialized in IT services and solutions. It’s the provider of Wize, an all-in-one wealth and asset management solution. It is a unique web solution dedicated to wealth management players that allows them to manage all aspects of their day-to-day business in a simple and effective way: portfolio management, orders, CRM, regulatory aspects (compliance), invoicing, back office and e-banking access. The company is headquartered in Geneva with offices in Zurich, Montreal, Singapore and Luxembourg.
Singapore
Bambu

 
Founded in 2016, Bambu is a robo-advisory technology and wealthtech provider for financial institutions and disruptors. Bambu enables companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by Bambu’s proprietary algorithms and ML tools. Bambu serves over 20 financial institutions globally. It’s headquartered in Singapore with a subsidiary in the UK and the US, and Europe, the Middle East and Africa representatives.
BetaSmartz

 
Founded in 2016, BetaSmartz is a provider of business-to-business (B2B) hybrid digital investment tools. It offers a complete suite of fully customizable business-to-business-to-consumer (B2B2C) white-labelled apps, as well as digital and automation solutions across the front, middle and back office. BetaSmartz offers a modular approach centered around client acquisition, objectives and modeling, investment management, client management and engagement, and data consolidation and management. The company is headquartered in Singapore with offices in Hong Kong and Australia.
AIFMetrics

 
Founded in 2019, AIFMetrics is a wealthtech platform empowering alternative asset managers to digitally transform and expand into new territories and client segments. AIFMetrics distributes, markets and reports alternative funds inaccessible in the public domain by connecting managers to intermediaries and investors through an enhanced digital experience. The company is headquartered in Singapore and has an office in India.
New Wealth

 
Founded in 2018, New Wealth is a B2B fintech provider that offers modular white-label solutions focusing on boosting the distribution of mutual funds and wealth management services. Applying behavioral design, data-driven personalization and automated financial advice, New Wealth’s cloud-first solutions foster digital engagement with end-clients, and empower relationship managers with easy-to-use hybrid advisory. New Wealth is headquartered in Singapore with an office in Dubai and an IT developer center in Ho Chi Minh City, Vietnam. The company recently partnered with Swiss regtech firm Apiax to embed actionable compliance knowledge into its software.
The post 10 Swiss and 4 Singaporean Companies Named Among World’s Top 100 Wealthtechs appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/10-swiss-and-4-singaporean-companies-named-among-worlds-top-100-wealthtechs</link><guid>2626</guid><author>Administrator</author><dc:content /><dc:text>10 Swiss and 4 Singaporean Companies Named Among World’s Top 100 Wealthtechs</dc:text></item><item><title>Banking Circle Acquires SEPAexpress</title><description><![CDATA[SEPAexpress, which provides white-labelled account-to-account (A2A) payments for Payments Service Providers (PSPs), merchants and corporates in Europe has been acquired by Banking Circle Group.
Less than five years after bringing its first solution to market, SEPAexpress now processes millions of transactions on a monthly basis. By becoming part of the Banking Circle Group ecosystem SEPAexpress gains immediate access to technology infrastructure and financial resources to accelerate its growth.
As companies digitise their customer and supply-chain interactions, there is a growing need for modern aged financial solutions. With offices worldwide and payment flows of more than EUR 200bn, the Banking Circle Group ecosystem meets that need, serving payment businesses, banks, global markets and online merchants. The addition of SEPAexpress to the Banking Circle Group ecosystem complements its rich set of e-commerce solutions including embedded finance, business payments &amp; card issuing and B2B Buy Now Pay Later.
Franz Guttenberger
“By joining the Banking Circle Group ecosystem we will be able to capitalise on the established infrastructure and financial resources to realise our vision of extending our services across Europe”,
said Franz Guttenberger, CEO of SEPAexpress.
“Businesses across the region need to be able to focus on their customer propositions and, by utilising our services, they don’t need to worry about the payment process.”
Anders la Cour
“The quality and simplicity of the solutions from SEPAexpress are without compare in the industry”,
added Anders la Cour, Chief Executive Officer of Banking Circle Group.
“Its suite of offerings is a natural fit with the Banking Circle ecosystem and we’re excited to have the company on board to serve the ever-growing payment needs of businesses worldwide. We look forward to working closely with SEPAexpress and welcome the entire team to the Group.”
Pushing account-to-account payments to the next level
Launched to the market in 2017, SEPAexpress has rapidly established a reputation for innovation, enabling businesses to process Direct Debits faster, cheaper and with less risk. It now has ambitions to extend further in the account-to-account space with Open Banking, upcoming Request to Pay and embedded risk management services and will be able to leverage the global network of more than 200 Payment businesses, Banks and Marketplaces already connected to the Banking Circle Group ecosystem.
A2A payments are payments that move money directly from the payer’s bank account to the merchant’s or service provider’s bank account through all instant payment networks involved. This type of credit transfer is inexpensive, push-only, and only takes a few seconds to complete. It is predicted that more than 20 percent of e-commerce transactions in Europe will be made by A2A payment options by 2023, accounting for a higher share of payments than debit and credit cards.
Capitalising on being part of the Banking Circle ecosystem, SEPAexpress aims to be at the forefront of this growth, making payments as simple and user-friendly as possible. SEPAexpress will continue to operate autonomously and is aiming for triple digit growth in 2022.
 
The post Banking Circle Acquires SEPAexpress appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/banking-circle-acquires-sepaexpress</link><guid>2625</guid><author>Administrator</author><dc:content /><dc:text>Banking Circle Acquires SEPAexpress</dc:text></item><item><title>Mirabaud Taps Temenos and Wealth Dynamix to Digitise Its Wealth Capabilities</title><description><![CDATA[Swiss international banking group Mirabaud has selected cloud banking platform Temenos and Wealth Dynamix, a provider of Client Lifecycle Management (CLM) technology, to support its move to a digital end-to-end wealth management platform over the next few years.
The switch to Software-as-a-Service (SaaS) on Temenos Banking Cloud gives Mirabaud the agility to quickly adapt to changing investment opportunities and client expectations.
Mirabaud will also use the complete suite of Temenos wealth banking capabilities; self-service channels, portfolio management, back-office processing, payments, financial crime mitigation and data lake.
Temenos&#8217; wealth capabilities will enable Mirabaud to deliver a digital customer experience with personalised services and highly automated processes.
Wealth Dynamix product CLMi is a secure SaaS, scalable and digital-first CLM solution.
It fully supports Mirabaud by delivering a digital end-to-end experience for client engagement, client on-boarding and CRM that will enhance the productivity of relationship managers as well as operations and compliance specialists.
In addition, CLMi will enable digital engagement with end clients to ensure client satisfaction.
Camille Vial
Camille Vial, CEO of Mirabaud said,
“This key investment for the Mirabaud Group is a clear demonstration of our dedication to our clients: positioning ourselves as a leading partner for them today, and the generations to come.
 
We are working to carry on adapting quickly to their needs and to market trends whilst never losing sight of our core vision and values: combine our entrepreneurial and passionate human approach with cutting edge technology”.
Max Chuard
Max Chuard, Chief Executive Officer of Temenos said,
“With Temenos’ state-of-the-art cloud platform, wealth management firms can gain quicker time to market, massive scalability, and higher security.
 
With Temenos, Mirabaud can continue evolving and innovating in the market to deliver exceptional client experience and attract a new generation of investors.”
The post Mirabaud Taps Temenos and Wealth Dynamix to Digitise Its Wealth Capabilities appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/mirabaud-taps-temenos-and-wealth-dynamix-to-digitise-its-wealth-capabilities</link><guid>2624</guid><author>Administrator</author><dc:content /><dc:text>Mirabaud Taps Temenos and Wealth Dynamix to Digitise Its Wealth Capabilities</dc:text></item><item><title>The 20 Most Influential Fintech Marketers in Europe</title><description><![CDATA[The Fintech Marketing Hub, a global fintech marketing community, has released its selection of the world’s top 30 most influential fintech marketers for 2022, recognizing the professionals behind the sector’s success.
These 30 fintech marketers were selected by a judging committee based on the degree of their influence and achievements over the past year, taking into account their total reach across different channels, engagement levels, insights relevance, community involvement, media appearance, and the notable achievements they’ve accomplished.
Of this year’s top 30 fintech marketers, 20 are based in Europe, and represent industry leaders including Tink, Starling Bank, Monzo and Lemonway. Today, we take a look at these 20 fintech marketing professionals, delving into their careers, and accomplishments.
Alberto Gerin, Head of Marketing and Communications, Modefinance

Alberto Gerin is the head of marketing and communications at Modefinance, an Italian fintech scaleup specialized in credit rating. At Modefinance, Gerin oversees the brand’s development, communication plan and growth functions, and has recently been guiding the company’s international expansion.
Gerin has more than 10 years of experience as a marketing professional and a non-conventional educational path which led to driving digital strategies in competitive industries, international markets, and fast-growing startups.
Amélie Arras, Marketing Director, Zumo

Amélie Arras is the marketing director of Zumo, a UK cryptocurrency wallet and payment platform. She joined the company in 2020 to help drive awareness of, and accessibility to, crypto.
She has a rather unique background in the fintech and financial services sectors. Many know her as the first woman to travel the world using only Bitcoin, demonstrating first-hand the real-life challenges of using an emerging payment method as well as the power of communities.
Arras’ personal mission is to bring fun and accessibility to the fintech and crypto space. She is passionate about supporting sustainable initiatives and collaboration in the finance and payments world.
Casper Emil Sciuto Rouchmann, Head of Marketing, United Fintech

Casper Emil Sciuto Rouchmann is the head of marketing of United Fintech, a UK-based company which provides banks and financial institutions with access to new technology and accelerate the implementation of these proven solutions. Prior to joining United Fintech, Rouchmann worked in multiple software-as-a-service (SaaS) unicorns, including Trustpilot and Templafy. He brings a unique growth hacking mindset to the table, and combines strategic knowledge with hands-on abilities in order to create something truly unique.
Rouchmann also advises startups and is also a renowned public speaker, having talked at more than 30+ events and numerous podcasts, and advised more than 40+ startups.
Christophe Langlois, Global Head of Fintech Marketing, Finastra

Christophe Langlois is the global head of marketing, fintech and developer ecosystem of Finastra, a UK-based financial software provider. Langlois is a marketer, growth hacker and relationship builder with a unique experience working client-side, agency-side and as an independent advisor for a number of global data, software and SaaS solution providers.
Prior to joining Finastra, Langlois held positions at the Fintech Power 50, IBM, WPP, Bazaarvoice, SWIFT, Lloyds TSB, Accuity and Societe Generale, where he helped design and implement successful marketing and business development programs leveraging best-of-class strategies fully leveraging digital marketing, content marketing, influencer marketing, social media, events, SEO and research.
Ingrid Anusic, Marketing Director, Moneyhub

Ingrid Anusic is the marketing director of Moneyhub, a UK-headquartered data and payments company. She is responsible for running Moneyhub’s marketing and PR in order to build brand awareness and support the scaling of the business.
Anusic’s expertise lies in helping technology companies grow by focusing on positioning, lead generation, employee engagement, and branding. With previous experience at US payment gateway NMI, where she led the marketing and PR strategy for Creditcall’s acquisition by NMI, she also implemented NMI’s employee engagement and CSR strategies. Anusic helped the company move from 20 to 200+ employees, and supporting the creation of the largest independent payment gateway in the world.
Irina Nicoleta Scarlat, Chief Growth Officer, Bitpanda

Irina Nicoleta Scarlat is the chief growth officer of Bitpanda, an Austrian cryptocurrency startup. Scarlat has more than 12 years of business experience, 10 of them in tech.
Prior to joining BitPanda, Scarlat spent three years with Revolut where she joined as country manager for Romania in early 2018 and grew the local market from 20,000 to almost 1.5 million users. She then built Revolut’s growth machine, led the growth teams in Central and Eastern Europe (CEE) and, later on, their global growth department, shaping Revolut’s growth journey from 1 million to 15 million users globally.
Before joining forces with Revolut, she led the marketing efforts of Uber in Romania, shaping the local strategy and working on strategic regional projects and initiatives. During her time at Uber, she launched three cities, scaled the market to 1 million users and built the marketing team from scratch.
Jonathan Nyst, CMO, Monizze

Jonathan Nyst is the CMO of Monizze, a developer and provider of an electronic extra-legal benefit improving companies’​ performances as well as the wellbeing of their employees.
Nyst is a full stack marketer with over 10 years of experience across Europe and Southeast Asia. In his previous role at BigPay, he led the marketing function for the first challenger bank in Southeast Asia and was part of the executive team that secured US$100 million in one of the large Series A funding rounds in the region.
In his free time, Nyst also provides consultancy services for early stage Web3 projects around the globe.
Karine Coutinho, VP of Marketing and Brand Communications, Lemonway

Karine Coutinho is the vice president of marketing and brand communications of Lemonway, a French payment institution. She has more than 10 years of experience in business-to-business (B2B) marketing and communications in the financial services industry and fintech.
Prior to joining Lemonway in 2018, Coutinho spent nearly eight years at Efma, an association gathering more than 3,000 financial institutions at a global level, with the goal to foster innovation and digital transformation among these companies. There, she was the deputy managing director, supporting the CEO and the board in the definition of the strategic roadmap, whilst leading key fintech-related projects in collaboration with established tech providers like Microsoft and SAP, and consulting firms like McKinsey, Accenture, Deloitte and Capgemini.
Leeya Hendricks, CMO, Delta Capita

Leeya Hendricks is the CMO of Delta Capita, a managed services, technology solutions and consulting provider. At Delta Capita, Hendricks leads and manages two strategies as she also performs the CMO role for Delta Capita’s parent company, Prytek, a multinational technology group that runs a number of verticals.
Prior to Delta Capita, Hendricks worked for leading tech giants like Oracle, IBM, Accenture, Gartner and Kurtosys in the US, Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC). She is a regular speaker at conferences, summits and universities on all things tech and marketing. She’s a chartered marketer, fellow of the Chartered Institute of Marketing and a member of the Forbes Communications Council.
Mai Fenton, CMO, Superscript

Mai Fenton is the CMO of Superscript, a London-based Series A tech scale-up that provides flexible, customizable business insurance for small businesses by monthly subscription. At Superscript, Fenton is responsible for all aspects of the brand marketing activity, both digital and offline, and work closely with the data and product teams to develop effective high-growth strategies. She also led the company’s successful rebrand in 2020, and oversees the accelerated growth of the active customers base and revenue per user.
Fenton has over 20 years of experience in digital marketing for startups and established brands across consumer packaged goods (CPG), e-commerce, tech and lifestyle, focusing on scaling brands and driving profitable growth.
Mariette Ferreira, Marketing Director, 11:FS

Mariette Ferreira is the marketing director of 11:FS, a challenger fintech consultancy, where she oversees all things content, brand, product, performance and community. She is a skilled marketing professional with extensive experience across the full marketing mix and implementation of agile marketing.
For the past seven years, Ferraira has worked in full mix marketing roles across education, manufacturing, and fintech, and co-hosted 11:FS’s Fintech Marketing Podcast.
Melanie Gabriel, Co-Founder and CMO, Yokoy

Melanie Gabriel is the co-founder and CMO at Yokoy, a Swiss fintech company that uses artificial intelligence (AI) to automate corporate expense, invoice and credit card processes of midsize and large enterprises.
Gabriel holds a master’s degree in business management from the University of St. Gallen (HSG) and is an advocate for more diversity in the tech and innovation industry as a board member at We Shape Tech. She recently received the Female Innovator of the Year Award and was recognized as one of 100 Digital Shapers.
Polly Gilbert, Marketing Director, Tembo

Polly Gilbert is the marketing director of Tembo, a UK-headquartered fintech startup specialized in smart family lending. At Tembo, Gilbert leads the brand, growth, PR and customer success functions.
Prior to joining Tembo, Gilbert co-founded TAP London, a tech-for-good organization which connected generous Londoners with local homelessness services through contactless technology. Now run by the Mayor of London, TAP has raised half a million pounds for charity and provided hundreds of hours of employment for homeless Londoners.
Rachel Kerrone, Director of Brand and Marketing, Starling Bank

Rachel Kerrone is the director of brand and marketing of Starling Bank, an award-winning digital challenger bank in the UK. She joined Starling Bank nearly five years ago to be part of the brand’s ambition to change banking for good, having worked in marketing roles at some of the world’s largest financial services organizations.
Kerrone is a marketing and brand specialist that has worked in global teams for some of the world’s biggest financial services organizations, including the Royal Bank of Scotland, JP Morgan, and ABN AMRO.
Kerrone’s specialist areas include brand, strategic planning, integrated marketing campaigns, partnerships, sponsorships and events.
Richard Cook, Social Media Manager, Monzo

Richard Cook is the social media manager of Monzo, a UK-based online bank, where he’s been since 2018. At Monzo, Cook is helping shape the brand’s strategy and works with teams across the whole company to make sure that the Monzo brand has a strong presence on all social media channels.
Prior to Monzo, Cook spent over six years at the Swedish music tech giant, Spotify.
Shameer Sachdev, Founder and Managing Director, Growth Gorilla

Shameer Sachdev is the founder and managing director of Growth Gorilla, a UK-based growth marketing agency focused on helping fintech companies.
Originally launching his career in financial services as an equity broker, Sachdev has worked for big brands like Alexander David and Barclays Wealth. He then moved on to focus more on client acquisition and eventually became marketing director at well-known online trading platform provider Spread.
Now, Sachdev is on a mission to share expertise from all corners of the fintech industry with his clients through innovative strategies and experimental techniques. As part of this mission, he has created The FML Podcast to help provide the fintech community with unique and valuable insights that can help deliver real growth results.
Signe Julie Valeur Bodholdt, CMO, Lunar

Signe Julie Valeur Bodholdt is the CMO of Lunar, a Danish digital bank. She started her career in the telco industry, first as department director for TDC Online, then as the sales and marketing manager in Oister, and in 2014, she became CEO of CBB and Bibob.
Before joining Lunar, she worked in Dubai as chief commercial officer for Virgin Mobile with the responsibility to launch Virgin Mobile in the United Arab Emirates (UAE). She joined Lunar in 2017 and has helped the company go from 15,000 to 350,000 users across the Nordics.
Smita Gupta, VP Global Marketing, Tradeshift

Smita Gupta is a the vice president of global marketing of Tradeshift, a US-headquartered, cloud-based business network and platform for supply chain payments, marketplaces, and apps. At Tradeshift, Gupta is helping shape the growth and vision of the company as it scales.
Prior to joining Tradeshift, Gupta worked at some of the world’s leading tech companies like Finastra, Tata Communications and Cisco, and led global teams to deliver business growth through new models of platform and marketplaces development.
She is an award-winning global industry thought leader with deep experience across SaaS, cloud computing, and fintech, a regular event speaker and influencer, and an advisor to startups.
Sylwia Linden, VP Marketing, Tink

Sylwia Linden is the vice president of marketing of Tink, Europe’s leading open banking platform expanding rapidly across Europe as part of Visa.
Linden has 20 years of international leadership experience across tech and financial services. She is a recognized marketing professional, and has spent her career challenging conventional approaches to sales, marketing and design.
Prior to joining Tink, Linden held positions at Accenture, Brilliant Future, and Netsurvey.
Travers Clarke-Walker, CMO, Thought Machine

Travers Clarke-Walker is the CMO of Thought Machine, a UK-based company that builds cloud-native technology for banks. He heads up Thought Machine’s sales and marketing teams, and is responsible for leading business development, customer acquisition, and brand building activities to drive global growth.
Clarke-Walker has 20 years’ board level experience scaling regional sales and marketing across software, banking, energy and retail industries. Before joining Thought Machine, he was the CMO of Fiserv and the managing director of Barclays where he led the market launch of peer-to-peer (P2P) payment app PingIt. Prior to this, Clarke-Walker was responsible for launching EDF Energy into the UK, as well as building their pioneering Nectar scheme.
The post The 20 Most Influential Fintech Marketers in Europe appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/the-20-most-influential-fintech-marketers-in-europe</link><guid>2623</guid><author>Administrator</author><dc:content /><dc:text>The 20 Most Influential Fintech Marketers in Europe</dc:text></item><item><title>Mastercard Launches Online Shop Identity Technology With Microsoft</title><description><![CDATA[Mastercard on Monday announced the launch of an enhanced identity solution designed to improve the online shopping experience and tackle digital fraud in a new collaboration with Microsoft.
Now more than ever, delivering a frictionless shopping experience is critical as retailers look to shift window shopping and price comparison visits to confirmed sales. And, while consumers enjoy the convenience of shopping online, fraudsters also seek to develop new methods to use these same channels for ill-gotten gains. One of the growing types of digital fraud is first-party fraud, where a legitimate purchase is made online but later disputed. First-party fraud is estimated to be a $50 billion global issue.
Mastercard has directly addressed these needs by enhancing its Digital Transaction Insights solution with next-generation authentication and real-time decisioning intelligence capabilities. The solution pairs Mastercard’s network insights with the merchant’s own data to confirm the consumer is who they claim to be, providing financial institutions with the additional intelligence needed to optimize their authorization decisions and approve more genuine transactions. Digital Transaction Insights is used across a wide range of online checkout instances, from click-to-pay functionality and wearables to digital wallets and in-app purchases.
Ajay Bhalla
Ajay Bhalla, president, Cyber and Intelligence at Mastercard, said,

“Shopping online should be simple, quick and secure. But that isn’t always the case. We’re committed to developing advanced identity and fraud technology to help enhance the real-time intelligence we provide to financial institutions around the globe. This builds on our longstanding commitment of working across the industry to provide advanced technologies that enable trust, and help build a safe and thriving digital ecosystem for all.”

Microsoft will be the first partner to share its insights and integrate with the new Digital Transaction Insights solution across several lines of business. Building on a long history of cross-collaboration, Microsoft’s Dynamics 365 Fraud Protection’s proprietary risk assessment, which leverages adaptive AI to assist in real-time fraud detection by identifying risky behaviors across purchase, account and in-store activities, has been integrated with Mastercard’s Digital Transaction Insights to better enable real-time intelligence sharing in an easily consumable and actionable format. This will enable issuers to enhance their decision-making processes for authorizations, chargebacks and refunds. Moreover, organizations can improve transaction acceptance rates with insights that help them balance profitability and revenue opportunities against fraud loss and checkout friction.
Charles Lamanna
Charles Lamanna, corporate vice president of Business Applications and Platforms at Microsoft, said,

“We are excited to partner with Mastercard to leverage our cloud-native, cutting-edge fraud assessment tools to empower issuers and merchants to prevent more fraud and approve more genuine users. This partnership lays the foundation for the future of global fraud prevention where data silos are no longer a barrier to security.”

Digital Transaction Insights is enabled by EMV 3-D Secure and Mastercard Identity Check, a global authentication solution built on the enhanced industry standard. Both elements support GDPR requirements and other related regulations. In 2021 alone, Mastercard Identity Check delivered a 14% uplift in transaction approval rates across billions of transactions.
 
This article first appeared on fintechnews.am

The post Mastercard Launches Online Shop Identity Technology With Microsoft appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/mastercard-launches-online-shop-identity-technology-with-microsoft</link><guid>2622</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>Mastercard Launches Online Shop Identity Technology With Microsoft</dc:text></item><item><title>Amazon Unveils Buy With Prime Feature</title><description><![CDATA[Amazon announced Buy with Prime—a new benefit for Prime members that will extend the convenience of Prime shopping to online stores beyond Amazon.com.
Buy with Prime will initially be available by invitation only for merchants using Fulfillment by Amazon (FBA) and will roll out through 2022 as merchants are invited to participate, including those not selling on Amazon or using FBA.
Expanded Shopping Benefits for Prime Members
Buy with Prime will allow millions of U.S.-based Prime members to shop directly from merchants’ online stores with the trusted experience they expect from Amazon—including fast, free delivery, a seamless checkout experience, and free returns on eligible orders. Prime members will see the Prime logo and delivery promise on eligible products in merchants’ online stores, which signals the item is available for free delivery, as fast as next day, with free returns. When shopping with Buy with Prime, checkout is simple and convenient. Prime members will use the payment and shipping information stored in their Amazon account and receive timely shipping and delivery notifications after an order is placed.
Jamil Ghani
“We always aim to exceed Prime members’ expectations by offering more selection, exclusive deals, quality content, and convenient features,”
said Jamil Ghani, vice president of Amazon Prime.
“With the introduction of Buy with Prime, we’re expanding where members can enjoy trusted and convenient Prime shopping benefits beyond Amazon, adding even more value to their membership. Members will have the flexibility to shop from merchants directly, all while enjoying the fast, free delivery, seamless checkout, and easy returns they’ve come to know and love from Amazon.”
A New Way for Merchants to Grow their Online Stores
For merchants already using FBA, Buy with Prime can be added to their online store within minutes because their inventory is already stored in Amazon fulfillment centers. To get started, merchants sign up for Buy with Prime, link an Amazon Seller Central account, use Multi-Channel Fulfillment to offer one pool of inventory for multiple channels, and link an Amazon Pay account to offer a seamless checkout experience for Prime members. Then, by installing a JavaScript widget in their online store, merchants can easily add Buy with Prime to one or more products. With Buy with Prime, merchants will receive shopper order information, including email addresses for customer orders, which they can use to provide customer service and build direct relationships with shoppers.
Using Buy with Prime, merchants simply pay for what they use. Pricing is based on a service fee, a payment processing fee, and fulfillment and storage fees that are calculated per unit. With no fixed subscription fee or long-term contract required, merchants can expand selection or cancel at any time.
Buy with Prime is designed to work with most online stores, including ecommerce service providers such as BigCommerce.
 
This article first appeared on fintechnews.am

The post Amazon Unveils Buy With Prime Feature appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/amazon-unveils-buy-with-prime-feature</link><guid>2621</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2021/12/AM-1.png?x30842</dc:content ><dc:text>Amazon Unveils Buy With Prime Feature</dc:text></item><item><title>Haas F1 Team Partners TransferMate for Cross Border Payments</title><description><![CDATA[The Haas F1 Team has announced a worldwide partnership with TransferMate Global Payments – an Ireland-based B2B payments infrastructure as-a-service provider.
TransferMate will provide cross-border payments services through its global payments infrastructure.
The company&#8217;s logo will also be featured on the Haas F1 Team’s VF-22 car and the apparel of drivers Kevin Magnussen and Mick Schumacher throughout the 2022 FIA Formula 1 World Championship.
Over the past decade TransferMate has built a payments network that allows businesses and individuals to make cross-border payments easily.
Operating with multiple currencies, TransferMate said that it works faster and more securely than traditional banking methods and with complete transparency of the transaction through to the point of final reconciliation.
This delivers new levels of confidence, eliminates unnecessary financial risk, and drives significant cost-efficiency benefits.
Guenther Steiner
Guenther Steiner, Team Principal of Haas F1 Team said,
“We’re delighted to welcome TransferMate and we look forward to a productive working partnership in 2022 and beyond. It’s clear that as a brand TransferMate prides itself on the delivery of the very best product.
 
We share that ethos and ultimately, we’re both in sectors where innovation is rewarded and actions need to be executed with confidence and precision. Efficiency is key to everything we do in Formula 1 and working with TransferMate adds another deliverable to our operations.”
Sinead Fitzmaurice
Sinead Fitzmaurice, CEO of TransferMate Global Payments – a subsidiary of the CluneTech Group, commented;
“We’re delighted to become an official team partner of Haas F1 Team. The partnership brings together two like-minded organizations, each with a strong commitment to challenging norms through innovation.
 
We’re looking forward to seeing our partnership group throughout the 2022 Formula 1 season. It promises to be a very exciting year for both ourselves and the Haas team. It’s only fitting that we’re joining forces on the road ahead and setting new standards of excellence for the future.”
 

The post Haas F1 Team Partners TransferMate for Cross Border Payments appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/haas-f1-team-partners-transfermate-for-cross-border-payments</link><guid>2618</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/AM.png?x30842</dc:content ><dc:text>Haas F1 Team Partners TransferMate for Cross Border Payments</dc:text></item><item><title>F10 Reports Management Buy-in and Secures Funds From Five T Fintech</title><description><![CDATA[F10, an innovation ecosystem for fintech and insurtech with hubs in Switzerland, Singapore, and Spain, announced that it has secured a funding round as well as management buy-in by its executive leadership, to support expansion into new markets and strategic capabilities. Details of the fundraise was not specified.
This funding round is led by Five T Fintech, with participation from Synpulse, Christian Frahm, Founder and CEO United Fintech, ON-POINT, and further investors.
In addition to external investors joining, the F10 executive leadership team have also taken stakes in the company in form of a management buy-in, making F10 an independent and self-funded company.
SIX, a founding partner of F10, will hold a minority stake.
F10 said that the funds are intended to allow it to grow both into new geographies, as well as in its current hubs in Europe and Asia.
The fintech accelerator&#8217;s corporate partners will benefit directly through early access to startups selected across all global programmes.
They will also benefit from the growing global network of partners, startups, and investors, as well as increased deal flow and collaboration support.
F10 added that it will take over the team of SIX Fintech Ventures, who will continue to provide investment advice for SIX’s CHF 50 million corporate venture capital fund that invests in global startups.
On top of that, F10 will provide early-stage capital to promising firms, with the first F10 Incubation fund now in the process of being raised, and build a Global Investor Network, which is a structured Investor Relationship Management programme for venture investors of all stages to directly invest in the incubator&#8217;s startups.
Andreas Iten
Andreas Iten, CEO and Co-founder of F10 said,
“Securing this round of funding is the next step in our growth journey to drive innovation in the financial industry globally.
 
We could not be more excited about the current and new investors supporting F10 in achieving this, including expanding our reach geographically, and creating a seed-fund to invest into startups in our ecosystem to drive their growth.”
Daniel Schmucki
Daniel Schmucki, CFO of SIX and initiator of SIX Fintech Ventures added,
“SIX has supported the F10 mission right from the start.
 
We are committed to F10 in growing their international community of startups, incumbents, and investors and driving technology and digital transformation forward.”
 
The post F10 Reports Management Buy-in and Secures Funds From Five T Fintech appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/f10-reports-management-buy-in-and-secures-funds-from-five-t-fintech</link><guid>2619</guid><author>Administrator</author><dc:content /><dc:text>F10 Reports Management Buy-in and Secures Funds From Five T Fintech</dc:text></item><item><title>Luzerner KB lanciert digitale Vorsorge 3a Produkt</title><description><![CDATA[Die Luzerner Kantonalbank AG (LUKB) erweitert ihre E-Banking-App und lanciert unter der Bezeichnung «fluks 3a» ihr digitales Vorsorge-3a-Angebot. Kundinnen und Kunden können neu ihre Vorsorgegelder der Säule 3a via Smartphone einfach in Wertschriften anlegen.

«fluks 3a» ist Teil der vollständig überarbeiteten E-Banking-App der LUKB und richtet sich in einer ersten Phase an die bestehende Kundschaft der LUKB. Kundinnen und Kunden können damit ganz einfach Säule-3a-Konten und eine individuelle Wertschriftensparlösung eröffnen. Alle Schritte, das heisst die Erstellung eines Anlegerprofils, die Investitionen in den gewählten Vorsorgefonds oder die Überwachung der Vermögensentwicklung, erfolgen direkt über das Smartphone. Auch Fondswechsel kann der Kunde jederzeit selbstständig vornehmen.
fluks3a
Preisliche Vorteile dank Digitalisierung
«fluks 3a» ist eine voll digitalisierte und auf Self-Service ausgerichtet Vorsorgelösung. Deshalb kann die LUKB ihren Kundinnen und Kunden diese Lösung mit einer All-in-Gebühr von 0.60%  anbieten. Aktuell stehen alle vier LUKB Expert-Vorsorgefonds (mit Aktienanteilen von 25, 45, 75 und 100%) im Angebot von «fluks 3a». Die LUKB plant, diese Vorsorgefonds noch im Jahr 2022 vollständig auf Nachhaltigkeitskriterien auszurichten.
Gemeinsame Produkteentwicklung mit der St. Galler Kantonalbank
Die LUKB hat das neue Mobile-Angebot in Kooperation mit der St. Galler Kantonalbank AG (SGKB) entwickelt. Konzipiert und technisch umgesetzt wurde die Lösung durch die beiden Schweizer Unternehmen Ergon Informatik AG und Soranus AG. Die SGKB hat ihr digitales Vorsorge 3a-Angebot bereits am 25. Oktober 2021 mit eigenen Vorsorgefonds auf den Markt gebracht.

The post Luzerner KB lanciert digitale Vorsorge 3a Produkt appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/luzerner-kb-lanciert-digitale-vorsorge-3a-produkt</link><guid>2616</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/fluks3a-1024x577.png?x30842</dc:content ><dc:text>Luzerner KB lanciert digitale Vorsorge 3a Produkt</dc:text></item><item><title>Luzerner KB lanciert digitale Vorsorge 3a App</title><description><![CDATA[Die Luzerner Kantonalbank AG (LUKB) erweitert ihre E-Banking-App und lanciert unter der Bezeichnung «fluks 3a» ihr digitales Vorsorge-3a-Angebot. Kundinnen und Kunden können neu ihre Vorsorgegelder der Säule 3a via Smartphone einfach in Wertschriften anlegen.

«fluks 3a» ist Teil der vollständig überarbeiteten E-Banking-App der LUKB und richtet sich in einer ersten Phase an die bestehende Kundschaft der LUKB. Kundinnen und Kunden können damit ganz einfach Säule-3a-Konten und eine individuelle Wertschriftensparlösung eröffnen. Alle Schritte, das heisst die Erstellung eines Anlegerprofils, die Investitionen in den gewählten Vorsorgefonds oder die Überwachung der Vermögensentwicklung, erfolgen direkt über das Smartphone. Auch Fondswechsel kann der Kunde jederzeit selbstständig vornehmen.
fluks3a
Preisliche Vorteile dank Digitalisierung
«fluks 3a» ist eine voll digitalisierte und auf Self-Service ausgerichtet Vorsorgelösung. Deshalb kann die LUKB ihren Kundinnen und Kunden diese Lösung mit einer All-in-Gebühr von 0.60%  anbieten. Aktuell stehen alle vier LUKB Expert-Vorsorgefonds (mit Aktienanteilen von 25, 45, 75 und 100%) im Angebot von «fluks 3a». Die LUKB plant, diese Vorsorgefonds noch im Jahr 2022 vollständig auf Nachhaltigkeitskriterien auszurichten.
Gemeinsame Produkteentwicklung mit der St. Galler Kantonalbank
Die LUKB hat das neue Mobile-Angebot in Kooperation mit der St. Galler Kantonalbank AG (SGKB) entwickelt. Konzipiert und technisch umgesetzt wurde die Lösung durch die beiden Schweizer Unternehmen Ergon Informatik AG und Soranus AG. Die SGKB hat ihr digitales Vorsorge 3a-Angebot bereits am 25. Oktober 2021 mit eigenen Vorsorgefonds auf den Markt gebracht.

The post Luzerner KB lanciert digitale Vorsorge 3a App appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
]]></description><link>https://fintechnews.eu/luzerner-kb-lanciert-digitale-vorsorge-3a-app</link><guid>2620</guid><author>Administrator</author><dc:content >https://x2u3s3r4.stackpathcdn.com/wp-content/uploads/2022/04/fluks3a-1024x577.png?x30842</dc:content ><dc:text>Luzerner KB lanciert digitale Vorsorge 3a App</dc:text></item><item><title>Top 10 Master’s Degrees in Fintech in Europe</title><description><![CDATA[Higher education institutions around the world are catching up to the technology disruption unfolding in the financial industry, actively introducing programs especially designed to cater to rising demand for new skills and knowledge in the field of fintech.
In Europe, many of the region’s most notable Master’s degrees in fintech are offered by prestigious UK-based universities. This is unsurprising considering that the country has one of the most advanced and largest fintech ecosystems in the world. That being said, other universities across the region have also started offering comprehensive programs that tackle critical topics and trends ranging from blockchain technology and artificial intelligence (AI), to data science, cybersecurity and regulation.
Today, we look at 10 of the most noteworthy master’s degrees in fintech in Europe, delving into how these programs and institutions are differentiating themselves from their counterparts and the opportunities each offers. For this list, we focus on programs taught exclusively in English and which are open to international applications.
MSc in Financial Technology – Imperial College London, England
Imperial College London, England, Source: Wikipedia
The MSc Financial Technology program of the Imperial College Business School in England, is a one-year full-time program providing graduates with the necessary skills and knowledge to embark on a career in fintech or in the financial services sector.
The program brings together highly relevant modules and electives to provide students with key quantitative and analytical skills, knowledge of the financial sector and provides practical experience through immersive learning.
Students will get to understand, execute and possibly develop disruptive financial innovations using appropriate tools and techniques. They will be able to demonstrate analytical skills to create, manage and interrogate large data sets applicable to the finance sector and build up a critical awareness of current issues in the fintech landscape. A range of programming tools will facilitate live implementations of financial models and allow them to analyze and evaluate investment decisions and data.
MSc in Finance, Technology and Policy – University of Edinburgh, Scotland
University of Edinburgh, Scotland, Source: University of Edinburg
The MSc in Finance, Technology and Policy program of the University of Edinburg in Scotland, runs for one academic year, starting in mid-September and ending in August. The program offers a unique degree sitting at the intersection of the three most important drivers of a modern economy:

Financial services/markets;
Technology; and
Policy.

Courses are designed to provide students with a detailed analysis of modern financial markets and the transformation of the financial services industry against the backdrop of technological and policy innovations.
The program applies principles of financial economics, sociology/philosophy, and practical programming/machine learning and big data analysis to help student focus on solving real problems and developing the skillsets that are relevant for employers now and in the future.
Students will also have the opportunity to tailor their degree to include other relevant aspects of operating within the financial technology space, and will get to work with industry partners to develop cutting-edge solutions to live challenges as part of student consultancy projects sponsored by financial institutions.
MSc in Financial Technology – University College London, England
University College London, England, Source: University College London
The MSc Financial Technology program of the University College London (UCL) in England focuses on developing technology literate financial services professionals. The program emphasizes the systematic understanding of new digital business models in financial services, how innovation through technology is changing business practices, quantitative finance skills and the application of emerging technologies to financial services.
Created by the UCL Centre for Blockchain Technologies, the program is designed to help students gain a critical awareness of current issues and the development of financial systems and markets. Students will get to develop strong quantitative finance, financial technology and business and strategy skills related to the financial services industry.
At the end of this program, students will be able to perform analytical tasks basic to the financial services industry (focused on quantitative finance), including the analysis and interpretation of data and big data. They will also be able to use strategic thinking on how emerging technologies are changing the financial services landscape, and deploy machine learning tools and design blockchain technology solutions.
MSc in Financial Technology – University of Birmingham, England
University of Birmingham, Source: University of Birmingham
The MSc in Financial Technology program of the University of Birmingham in England has been created for talented graduates and professionals with experience in financial services, treasury management, science and technology. The course is especially relevant to:

Top-performing graduates in finance, economics, science and engineering;
Those currently employed in finance and FinTech who wish to develop their expertise; and
Those with a related academic background who wish to develop their skills in this sector.

Students will be working in small teaching groups, allowing them to work closely with industry experts, staff and fellow students. They will also work on real time industry projects which combine theory with intensive practice and industrial engagement. Example projects include: setting up of crowd funding platforms, application of blockchain services in reducing currency frauds, developing algorithmic-trading applications and development of financial services applications.
MSc in Financial Technology with Data Science – University of Bristol, England
Wills Memorial Library, University of Bristol, Source: University of Bristol
From crowdfunding to cryptocurrencies, and from automated trading to Alipay, recent innovations in financial technologies have revolutionized the way we spend, save, borrow, and invest.
The new MSc in Financial Technology with Data Science program by the University of Bristol in England offers an opportunity to join the financial technology revolution. Students will learn the key design features of a number of financial technology applications and will develop skills to implement, assess and engineer these technologies. Students will also develop an understanding of the computational, statistical and machine learning principles necessary for insightful large-scale data analysis used in data-driven finance.
Hosted by a world-leading engineering faculty, this is a technology-focused MSc and not a finance or accounting program that is traditionally provided by a business school.
MSc in Fintech and Financial Markets – University of Nottingham, England
University of Nottingham, Source: Wikipedia
The MSc in Fintech and Financial Markets program by the University of Nottingham in England is designed to provide students with an understanding of contemporary issues and conceptual frameworks used to adopt financial technology in organizations. Students will build a solid foundation of global financial markets, principles of fintech and blockchain as well as coding and data analytics for finance and fintech.
This course will enable students to become a finance professional who understands what is driving the fintech evolution, with the ability to shape financial markets and transform ideas to create new fintech products. The course will equip them with coding and data analytics skills to understand fintech products and their place in financial markets.
They will be applying knowledge, tools and techniques to resolve issues in new and diverse situations within the finance disciplines, evaluate the rigor and validity of published research, and assess its relevance to the practice of finance.
In their third semester, students will complete a hands-on consultancy project, giving them an opportunity to use the theories and knowledge they’ve gained to produce a meaningful piece of work.
MSc Fintech – Dublin Business School, Ireland
Dublin Business School, Source: Dublin Business School
The MSc Fintech program by the Dublin Business School in Ireland is a new interdisciplinary program that focuses on finance, data analytics and computing. It is designed to appeal to graduates seeking to gain exposure to fintech.
The program focuses on practical skills in core areas such as financial analytics, advanced databases, disruptive technologies, web technologies and security while also offering applied skills in contemporary topics such as data analytics, and financial applications.
The specific program aims are:

To enable learners to develop in-depth knowledge and analytical skills in current and developing financial technologies;
To provide learners with a deep and systematic knowledge of the management of Financial Technology in organizational and regulatory contexts;
To facilitate the development by the learner of applied skills that are directly complementary and relevant to the workplace;
To identify and develop autonomous learning skills for the learner;
To develop in the learner a deep and systematic understanding of current issues of research and analysis;
To enable the learner to identify, develop and apply detailed analytical, creative, problem solving and research skills; and
Provide the learner with a comprehensive platform for career development, innovation and further study.

Master in Finance and Fintech – Bologna Business School, Italy
Bologna Business School, Source: Bologna Business School
The Master in Finance and Fintech by the Bologna Business School in Italy aims to enable young professionals to deal with the digital transformation that is disruptively changing the financial mark