January 10, 2018 – As part of capitalizing on its market success and strategic developments, Crowd Valley will now be known as Difitek (www.difitek.com). Following the growth of the digital finance market, the company has a full offering through its back office and API for a wide range of financial offerings, such as online lending, online investing, trading, cryptocurrencies and ICOs, neobanks, energy and real estate applications.
We recently had the pleasure to have a conversation with Angel Lorente, an Executive Director for Morgan Stanley’s Institutional Securities Group Finance Division and the Global Treasury Capital Markets Controller. In 2013, Angel was named to Diversity MBA Magazine’s Top 100 Under 50 Diverse Executives. While it was 2016 when he started independently advising and mentoring fintech businesses and entrepreneurs. Fascinated by this flourishing industry he created FinTech Connector, to help connect Fintech entrepreneurs with fintech thought-leaders, enablers and investors to innovate financial services. This interview is the first of a series that we will publish with global fintech leaders. We hope you will enjoy it.
Tokenization has become a key trend with digital currencies and cryptostrategies in financial services. Tokens seem to be raising hundreds of millions in real time left and right. For an existing financial services firm, should you look at a token strategy and if so, how should you look at it?
With the advent of PSD2 in Europe, financial services companies have embarked on their Open Banking initiatives, which are set for full swing in 2018. Banks have been writing and exposing APIs for third parties to pull data and perform actions on the banks platforms through these APIs in order to provide more customer facing service innovation. For many banks this is the final step for complying with the PSD2 regulation, but the reality is that it’s only the very first step in the total transformation to an open financial services ecosystem.
Creating the Europe-wide framework for alternative finance is the ambitious objective of the European Commission (EC) with a new legislative proposal, part of the Capital Market Union action plan approved in 2015, that is now at the assessment stage and open for comments and feedback from the interested parties, until November 27, 2017.
Crowd Valley is glad to have the opportunity to speak at the World Funding Summit & Capital Expo, a premier event in entrepreneurial investing and fundraising, uniting traditional and alternative sources of capital since 2012, that will take place on November 17 and 18, at the Los Angeles Convention Center, in Los Angeles, California. Crowd Valley’s Chairman Jouko Ahvenainen will represent the company at the event.
A great disruption is underway in financial services, yet it’s still open who will come out on top in each distinct category of offerings. Will it be the institutions modernizing their fundamental approach to financial services or will it be digital native, technology firms that enter the sector to give clients the service they want?
Crowd Valley is invited to speak at the Future of AI in Finance, part of the Hong Kong Fintech Week 2017, the leading financial technology event in Asia, that will take place on October 26 and 27, with over 3,000 senior financial executives and business leaders from more than 30 countries. Crowd Valley’s Chairman Jouko Ahvenainen will represent the company at the event.
As we’ve followed the trends in server-side applications over the past few years, one of the most significant innovations that is now being promoted heavily by all the major cloud service providers is the concept of “serverless” architectures. Having spent some time over the past few years testing this new approach Crowd Valley’s newest API version, which is being rolled out to selected customers and partners at the moment, will be fully serverless by benefitting from such cloud services as AWS Lambda and Microsoft Azure Functions.
The revised Payment Services Directive (PSD2) is set to change the role of banks in the financial services space. PSD2 aims to increase competition, innovation, and transparency in the EU banking sector, by opening up banking APIs to various trusted third-party services. PSD2 mandates banks and payment service providers to facilitate access to user account data and payment initiation via API, meaning that banks may no longer be the sole providers of online banking services, and instead begin acting as back-end utilities for other financial and non-financial service providers.