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Meet the world’s youngest digital bankers: Jeremy Berger (24) & Ollie Purdue (25)

At 24 years old, most people graduate college, consider different careers options and think about what they want to achieve in their professional lives.

But for every rule, there is an exception. Some 24-year-olds run successful businesses. And some even build their own banks.

We know at least two such exceptions: Ollie Purdue (25) and Jeremy Berger (24).

They have at least two things in common: both are young (obviously), and both have co-founded digital banking startups. And most importantly, both entrepreneurs are similar in their innovative and inclusive approach to banking.

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About, Banks, Influences FinTech, People of fintech, SME

November 27, 2018

The world’s hottest digital banking startup takes home 2 international awards in one week, preparing to launch in Puerto...

This past year, Puerto Rico has taken its place among the world’s most attractive spots for business incorporation and development of cutting-edge products and services.

Puerto Rico’s governor, Ricardo Rosselló wants to see the island develop to meet the needs of the rapidly growing innovative tech & gig economy: “I would like to see Puerto Rico become a place where businesses serve customers and coordinate operations throughout the Americas, what I like to think of as a “human cloud,” where workers spread across the island handle tasks remotely for businesses around the world.”

Puerto Rico’s agenda aligns well with Arival Bank’s goals, which aims to provide banking services for innovative tech and crypto-related SMEs. It makes Arival Bank a perfect fit into the Puerto Rico ecosystem, creating its solutions on the basis of opportunities, generously provided by the U.S. territory.

Now, it will also become the home for two international fintech awards from different corners of the world, proving that Arival Bank is on the right track.

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Banks, Fintech news, Hotnews, news, SME

November 14, 2018

Life.SREDA presents accelerator BAASIS Labs powered by Mbanq

Life.SREDA Venture Capital presents ‘BAASIS Labs by Mbanq’, a startup accelerator powered by Mbanq, the global digital banking enabler and Banking-as-a-Service (BaaS) platform. The accelerator will be first announced during Fintech Festival in Singapore on 15th of November.

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Accelerators/Incubators/Labs, Banks

November 11, 2018

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Cryptocurrency and Oil: The Precursors of an Impending Market Doom

Recently, the stock market has been a beehive of activities as investors jump ship to save money. This is coming as the prices of oil and Bitcoin nosedived greatly. Speculations are rife about the future of the market following these series of events.

Some experts believe the worst is yet to come as instability and hasty decisions continue to dominate both markets – cryptocurrency and oil.

The market witnessed some of its biggest dips as several assets suffered a change in fortune. Bitcoin, for instance, plunged to its lowest in a single year this week, while the price of Brent crude witnessed its worse slump the same week.

Investors might be taking critical positions in the highly volatile stock market, and price cascades haven’t helped, but financial experts don’t think these are signs of a more negative market outlook in the coming future.

For many investors, 2018 will be one year they would never want to remember with the ‘bearish’ market ranging on. Analysts are of the view that the recent crash in prices should change in the coming year.

Financial experts at the Bank of America are of the opinion that there are much stronger red flags – instability in foreign exchange, bond, equity and rash sale of stocks – that could provoke rapid monetary transactions which could spell doom the sectors and the economies concerned.

According to analysts, this year marks the first time in 25 years that bonds and stocks have taken the back seat while cash is turning out to be the star of the show. However, $24 billion went into bonds, $35 gained entry into the money market and equities recorded the greatest input of about $122 billion.

Data from the Emerging Portfolio Fund Research (EPFR) has shown that bonds suffered a deficit of $5.2 billion and equity witnessed an inflow of about $4.6 billion only just this week.

$2.3 billion was withdrawn from the high-yield bonds while the investment grade corporate bond witnessed a hemorrhage of $2 billion making corporate bonds one of the biggest hit.

While the US dollar has stayed standing with an increase of 5% from the previous year, and the high-yield credit remained afloat, experts appear to be skeptical nonetheless.

Financial analysts at the Bank of America agree that the US dollar and the high-yield corporate bonds are perhaps the only positives. However, they opine that the US dollar will gain more ground in the coming year.

The United States isn’t the only country witnessing a downturn of events. The European continent has been equally hit as the European equity funds lost $1.3 billion this year.

According to Reuters, about $2.6 billion went into United States equities renowned for their potential and standing.

Frankly, there’s a yearning for the stocks of budding markets and a $1.2 billion inflow, one of many in the last few weeks, buttresses the claim.  

Final Thoughts

In all these, one thing is clear; the financial sector is going through a difficult phase. How the year ends will depend greatly on the confidence of investors regarding the outlook of the market.

 

Fintech news

November 5, 2018

Digital banking challenger Monese launches business accounts

Monese recently raised $60m in its series B funding round

via CityAM

Digital banking app Monese announced its expansion into the world of business banking, as it launches accounts for young companies and entrepreneurs across the UK and Europe.

The accounts will be released to UK-registered businesses first, available in 11 languages in a bid to tap the UK’s growing multicultural industry base. The firm told City A.M. that accounts in Europe are expected to follow suit “very soon”.

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Fintech news, news

October 23, 2018

Nubank is now worth $4 billion after Tencent’s $180 million investment

nubank

Via TechCrunch

Nubank, the Brazilian financial services company, has raised $180 million from the Chinese internet giant, Tencent.

Tencent has long been interested in financial services startups, and with its $90 million direct investment and another $90 million investment in the secondary market, the company now has access to what is arguably the largest digital banking company in the world.

With the $4 billion valuation, it also makes Nubank one of the most highly valued privately held startups in Latin America.

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Banks, Fintech news

October 19, 2018

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The Rise of Blockchain & Mobile Gaming

The popularity of mobile gaming, including mobile casino gambling, has risen exponentially over the past few years with the evolution of blockchain. In fact, 2017 and 2018 saw the popularity of mobile gaming surpass that of pc or console gaming. While this may come as somewhat of a surprise for most gamers, the reasons for this actually make a lot of sense. To understand why mobile gaming has overtaken any other form of online or digital gaming of late, we have to begin with the device itself (more…)

Blockchain

October 17, 2018

How the 22-year-old founders of Brex built a billion dollar business in less than 2 years

Brex co-founders Henrique Dubugras and Pedro Franceschi

Another successful business at 22: this fintech startup led by young Brazilian founders Henrique Dubugras and Pedro Franceschi, reached a $1.1 billion valuation.

Focusing on a huge problem entrepreneurs inevitably face – access to credit – Brex provides startups with corporate credit cards without a personal guarantee or deposit. The service offers a 10x higher credit limit than the market average and simple expense tracking for the whole team.

Public only since June 2018, the startup has already reached support of market giants such as PayPal founders Peter Thiel and Max Levchin and the former chief executive officer of Visa Carl Pascarella. 

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Credit/Debit/Prepaid cards, Fintech news, SME

October 16, 2018

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eToro Releases a New Cryptocurrency Wallet: How You Can Exchange Your Bitcoin for Ethreum

Meta Description: Are you trying to exchange their Bitcoin into Ethereum? Find out how in this guide! (more…)

Fintech news

October 15, 2018

Banking on Millennials: Balancing Branch Preferences And Digital Expectations

Via The Financial Brand 

Knowing what’s really important to consumers is critical to acquisition, retention and cross-selling in the banking industry. But Millennial stereotypes frequently fool financial marketers, muddling their marketing strategies with faulty assumptions. Turns out they love branches just as much as Gen X and Baby Boomers. And all generations share one thing in common: They expect more, particularly in digital channels.

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Analytics, Banks, Global trends

October 13, 2018

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Victorieum Offshore Bank announces fiat loans with crypto collaterals with interest as low as 14%!

In the ever expanding world of cryptocurrencies, the possibilities and opportunities are phenomenal. Ever since the advent of Bitcoin, the world has been an astonished witness to the astounding growth of the crypto industry. The blockchain technology with its magnitude of robust features such as transparency, security, reliability and fast transaction speeds to name a few have elevated the crypto trading to a whole new level. (more…)

Fintech news

October 12, 2018

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The Ultimate Platform For New Business Funding

Uris is a decentralized ecosystem. It is a non-profit organization that has been founded by a blend of venture capitalists, entrepreneurs and individual investors sharing the same belief that company ownership is the basis of development in emerging markets. It serves as one of the best platforms for projects and startups that are in requirement of no cost funds. Creators and entrepreneurs possessing excellent ideas and innovations in the present market trends can use the Uris platform for achieving their complete potential. Uris gives them the scope of sharing their innovation and technology with others. (more…)

Fintech news

October 12, 2018

“Fintech unicorn” WB21 faces securities fraud enforcement action from SEC

Michael Gastauer, CEO of WB21 digital bank, is facing a lawsuit for selling $165 million worth of fraudulent microcap stocks.

On October 2nd, the US Securities and Exchange Commission (SEC) revealed a lawsuit against Michael Gastauer and Roger Knox for “intentionally defrauding investors by secretly dumping large quantities of stock.”

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Banks, Fintech news, Hotnews

October 11, 2018

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A single point of trade across digital assets and multiple exchanges – One token is all you need

Throughout history, the world has undergone multiple stages of economic and technological evolutions and our world is at the cusp of another revolution just around the corner. The prevailing generation is well versed with the growth and expansion of internet and technologies alike. (more…)

Fintech news

October 10, 2018