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June, 2016
Archive

751

Fintech Startup Aims To Help Boomers Manage Retirement Income

By Janet Novack for Forbes

How much can you spend each year in retirement if you don’t want to outlive your money? Should you delay claiming Social Security benefits if doing so requires you to take money from your 401(k) or IRA before required payouts begin? What’s the most tax efficient way to draw down various pots of money? Should you annuitize some of your wealth? Tap home equity with a reverse mortgage? If Brexit or some other event slams your portfolio, how much should you cut back on discretionary spending? Will you need additional help managing your finances as you age? (more…)

Analytics, Columns, Fintech news, Global trends

June 29, 2016

How Bank of America’s Billion-Dollar Tech Cuts Could Fuel Startups

By Penny Crosman for the American Banker

Like other big banks, Bank of America wants to get nimbler and more innovative. But it is weighed down by the same problem they all are: a vast worldwide technological architecture that costs billions of dollars a year to run. (more…)

Banks, Fintech news, Global trends, Hotnews

June 29, 2016

860

Can IBM Really Make a Business Out of Blockchain?

By Jeff John Roberts for Fortune

The company is saying all the right things.
You can mark 2016 as the year “blockchain” became a buzzword. It’s not as hollow as “cloud,” which marketers have rendered almost meaningless. But “blockchain” is now at the point where everyone and their dogs want a piece of it. (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends

June 29, 2016

830

A New Chatbot Would Like to Help You With Your Bank Account

By Cade Metz for Wired

I JUST ASKED a bot to tell me how much I spent on coffee this past month. And a few moments later, it replied. “Let’s see,” it said. “You spent $199.83.” (more…)

Analytics, Columns, Fintech news, Global trends

June 29, 2016

475

Three Big Trends In Fintech You Should Be Using In Your Business Today

By Paul Armstrong for Forbes

It was a strange day at Wired Money last week.  Brexit was looming and a decidedly uneasy feeling was in the air amongst both speakers and delegates alike.  Several of the startups speaking and in attendance were sad due to being forced to suspend business and trading because of the financial uncertainty the next 24 hours was going to bring.  The mood fluctuated between speakers to either extreme concern or coolness because their technology was made for uncertainty like this or because it could be crushed by it.  A stark reminder while we are seeing a new day in the finance industry, we haven’t even finished breakfast yet. (more…)

Blockchain, Cryptocurrencies, Global trends, Hotnews

June 29, 2016

Here’s How Citigroup Is Embracing the ‘Fintech’ Revolution

By Fortune

The mega-bank needs to counter a new wave of financial technology startups. (more…)

Analytics, Banks, Global trends

June 29, 2016

465

You Just Stole $50 Million In Cryptocurrency — Now How The Hell Do You Spend It?

By Joseph Bernstein for Buzzfeed.com

Imagine that you are a master thief, a real Danny Ocean. In your latest caper, you discover a way into the vault of a brand-new bank, one thought to be pretty much uncrackable. And then, using the bank’s own state-of-the-art systems against it, you steal about $60 million dollars. Finally, you escape — and no one knows who you are. (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends

June 29, 2016

476

Brexit probably won’t kill London’s booming fintech scene

By Chris Skinner for QZ.com

London is the fintech capital of Europe—and, many would argue, the world. But in the aftermath of the UK’s vote to leave the European Union, many are wondering whether it’s about to lose that title. If the world’s largest banks pack up and relocate to the likes of Frankfurt, Paris or Dublin, the fintech startups that rely on their business would likely follow. (more…)

Analytics, Fintech news, Global trends, Hotnews

June 29, 2016

717

Decentralizing IoT networks through blockchain

By Ben Dickson for Techcrunch

magine a washer that autonomously contacts suppliers and places orders when it’s low on detergent, performs self-service and maintenance, downloads new washing programs from outside sources, schedules its cycles to take advantage of electricity prices and negotiates with peer devices to optimize its environment; a connected car, smart enough to find and choose the best deal for parts and services; a manufacturing plant where the machinery knows when to order repairs for some of its parts without the need of human intervention. (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends

June 29, 2016

China’s Fintech Party Crasher

By Tim CulpanNisha Gopalan for Bloomberg

It looks like China’s central bank chief just rained on Alibaba’s banking parade. (more…)

Analytics, China, Global trends, Government activities, InspirAsia

June 29, 2016

Fintechs say high ASX standards are vital

By James Eyers for the Financial Review

The chief executives of two fintech companies preparing to list on the ASX say the Australian public market remains an attractive funding option for young technology companies despite the botched float of music streaming service Guvera.  (more…)

Fintech news, Global trends

June 27, 2016

647

50 years on: How credit cards changed our relationship with money

By Simon Read for BBC

Fifty years ago this week Barclaycard issued the first credit cards in the UK. (more…)

Banks, Global trends, Hotnews

June 27, 2016

484

Europe’s Startups Reassess Britain After ‘Brexit’

By SAM SCHECHNER for WSJ
Britain’s vote to leave the European Union is already forcing Europe’s nimble, tech startup community to reassess operations there—a potential early warning for the kind of dramatic action bigger companies may have to take. (more…)

Banks, Fintech news, Global trends

June 27, 2016

769

Five Lessons From Some Of Today’s Hottest, Billion-Dollar Startups.

By Bijan Khosravi for Forbes

What makes the billion dollar startups so unique? The answer is distribution. They either create a whole new market, like Uber and Airbnb did with the sharing economy, or they massively disrupt existing markets, such as healthcare and finance. Here are five companies that made it into the “billion dollar club” and my analysis of what set them apart. (more…)

Analytics, Columns, Deals, Hotnews

June 27, 2016

612

The Reserve Bank of India Announces Blockchain Committee

By News BTC

India is one of the largest cash dependent nations in the world. A majority of people in the world’s largest democracy have the tendency to use cash for most of the transactions. This has created a challenge for the Indian central bank —The Reserve Bank of India to maintain the liquidity in the country’s monetary system. In order to ensure there are enough bank notes to go around, the premier bank is forced to print more currency and constantly destroy the old banknotes that are either soiled or damaged.

(more…)

Banks, Government activities, India, InspirAsia

June 27, 2016

Fintech and Traditional Banks: The Beginning of a Beautiful Friendship

By Tom Villante for Lets Talk Payments

Today’s technology-led companies are intent on disrupting industry after industry, abolish decades of profitable business models and force cash cows out of business. Competition with Netflix busted Blockbuster. Borders bombed as consumers move online to buy books from Amazon. And Tower Records fell to the basement when they couldn’t compete with iTunes. (more…)

Mobile payments/banking

June 27, 2016

893

A ZFS developer’s analysis of the good and bad in Apple’s new APFS file system

By Adam Leventhal for the Ars Technica

Apple announced a new file system that will make its way into all of its OS variants (macOS, tvOS, iOS,watchOS) in the coming years. Media coverage to this point has been mostly breathless elongations ofApple’s developer documentation. (more…)

Analytics, Hotnews

June 27, 2016

Brexit And The Rebirth Of Bitcoin

By Thom Lachenmann with Parke Shall

We have to admit that we didn’t take Bitcoin seriously when it first hit the scene. Like many investors, we simply didn’t understand it, nor did we understand what the appeal would be of a type of currency that was not regulated and not widely accepted. Here we are, eight years later, and Bitcoin is having arguably the most shining moment in its history as it is actually being used as somewhat of a safe haven by both Chinese investors looking to exit local currencies and investors that are looking to avoid the volatility of the Pound, post-United Kingdom exiting the European Union. (more…)

Blockchain, Cryptocurrencies

June 27, 2016

845

‘Powerful storm’ set to hit Asian banking industry: McKinsey

By Yasmine Yahya for Straits Times

Slowing global growth, the emergence of innovative finance start-ups and an increasing volume of bad loans are combining to create a “powerful storm” for the Asia Pacific banking industry, consulting firm McKinsey & Company has said in its latest annual banking review on Wednesday (June 22). (more…)

Banks, Global trends, Hotnews, InspirAsia

June 23, 2016

612

Inside Fidor, the fintech bank run by its customers

By Wired Money

Since its rise in 2008, fintech has been touted as a major threat to the traditional banking processes, and one of the disruptive tech’s pioneers has been Fidor. (more…)

Banks, Fintech news, Global trends, Mobile payments/banking

June 23, 2016

909

Samsung Takes a Different Approach to Mobile Payments

By Reuters

Mobile wallet is seen as a way to sell devices, not collect fees. (more…)

Fintech news, InspirAsia, Mobile payments/banking

June 23, 2016

Bitcoin Loses 25% in Five Days as Brexit Odds Fall, Ether Sinks

By Justina Lee for Bloomberg

Bitcoin plunged for a fifth day as concern Britain will vote to leave the European Union waned and a hack suffered by another cryptocurrency undermined confidence in such digital assets. (more…)

Blockchain, Cryptocurrencies

June 23, 2016

594

PayPal is warming up to bitcoin

By Ian Kar for Quartz

PayPal is slowly dipping its toes in the bitcoin waters. (more…)

Blockchain, Cryptocurrencies, Fintech news

June 23, 2016

Fintech companies emerge triumphant, with little sympathy for LendingClub

By Anita Balakrishnah for CNBC

Some financial technology start-ups have emerged as bright spots in the industry, scoring big bucks and saving themselves from the carnage in the fintech space. Part of the strategy? They’ve aggressively distanced themselves from fallen star LendingClub and the markets affected by it.  (more…)

Deals, Global trends

June 23, 2016

Intel chips in with blockchain code for Hyperledger

By Richard Chirgwin for the Register

The Linux Foundation’s Hyperledger Project has another big name on board: Intel. (more…)

Blockchain, Fintech news, Global trends

June 22, 2016

967

Biggest developments in fintech in 2016

By Wired Insider

To get to grips with one of the 21st century’s biggest changes in digital – especially in regards to finance and investment – is no easy task for any business. Startups, SMEs and even multi-national corporations have discovered that it (literally) pays to explore these new methods of acquiring business and boosting revenue. (more…)

Fintech news, Global trends, Hotnews

June 22, 2016

663

658

The Rise of FinTech in Supply Chains

By Dale Rogers for HBR

A new type of services company could transform global supply chains: Financial technology companies that act as intermediaries in facilitating transactions between a company and its suppliers. They enable both the buyer and supplier to improve their working capital by making it possible for the former to extend its payables and at the same time accelerate payment to the latter. This provides both sides with benefits, including greater liquidity and less variability in the timing of payments. (more…)

Analytics, Fintech news, Global trends, Government activities

June 22, 2016

719

Another corporate finance firm is launching a fintech venture arm

By Lynsey Barber for City Am

German exchange owner Deutsche Boerse is wrapping up its investments in financial technology companies into a standalone venture capital fund and will ramp up its funding in fintech firms, joining the rush of corporates eyeing a slice of disruptive startups. (more…)

Banks, Deals, Fintech news

June 22, 2016

How Barclays Aims to Bring a Billion Unbanked into the Fold

By Brian Eha for American Banker

Barclays Africa Group has a market penetration problem. (more…)

Banks, Fintech news, Global trends, InspirAsia

June 21, 2016