With the recent implementation of the demonetization rules by the Government of India, a lot of interesting events have taken place in the day-to-day life of the Indian masses. With the largest denomination bank notes of Rs. 500 and Rs. 1,000 taken out of circulation, that accounted for about 86% of India’s cash circulation by value, people were forced to explore alternative routes like online banking and e-wallets as their cash alternatives.
Launching a digital finance portal for the first time can be difficult. From our experience, we understand there are many moving parts to this venture so, at a high level, we have outlined the main considerations when starting such an undertaking.
We’re excited to be joining on stage at the Clinton Presidential Library in Little Rock to address the financing of the worlds global challenges.
On November 10, 2016, the UK and China announced a joint initiative to provide their domestic investors with new investment opportunities while further opening their respective markets to foreign capital. Named the London-Shanghai Stock Connect, it focuses on eight key areas and ultimately aims at easing cooperation and boosting market access. Those areas range from traditional sectors such as banking and asset management but also include socially important ones, for instance financial inclusion or green finance.
Switzerland, one of the most important global financial centers and home to more than 250 banks, is actually a small of nation of 8 million people, that you may associate with world class chocolate, luxurious watches, the stunning scenery of the Alps and lakes, as well as excellent education infrastructure and unrivaled living standards. All these things and more, but probably not fintech. At least, not yet.
From Friday the 11th to 13th of November, Crowd Valley joined professionals from EY, Capital One, Addepar and CoVenture as well as students from institutions such as Cornell, NYU Stern and Columbia for Cornell’s annual Fintech Hackathon held at their Cornell Tech location in New York City. The focus of the event was to promote the innovation of applications and technology for two verticals: Financial Inclusion and Anti Money Laundering (AML). With $5000 in cash prizes, the event featured a large student turnout filled with exciting ideas to bring to fruition.
Anyone paying attention to the latest news from financial markets would agree that blockchain has been welcomed as the next “big thing” by many professionals due to the new opportunities it presents in terms of business scenarios.
The alternative finance sector in France is experiencing great momentum. It’s the second largest market in Europe after the UK, with a volume that has more than doubled between 2013 and 2014 (+103%) and then again between 2014 and 2015 (+107%), reaching €319 million in the past year. France is also home to nearly half of the largest banks in Europe. The updated regulations, published in the Journal Officiel the 30th of October 2016, could be what is needed to allow the market to take off and reach the next level.
As established financial institutions are becoming increasingly aware of the need to incorporate innovative technologies to their existing operations, the first signs of market consolidation are appearing within the financial technology services industry. According to Capgemini’s recent fintech report: “Almost as many traditional firms are developing their own in-house capabilities (59.2%), as many are seeking partnerships with fintechs (60%).”
London may still be the fintech capital of Europe but in the wake of Brexit and significant growth and development in its peer nations, the German fintech ecosystem is emerging as a major player in financial technology globally. While, for some time, the domestic fintech scene was not commonly known for its breathtaking speed of innovation, things are changing rapidly.