As the senators in the United States Congress maneuver a health care bill of massive significance for the insurance industry, let’s a take a closer look at the wave of disruption that has firmly placed the insurance industry and Insurtech in the spotlight of the cross industry technological wave borne out of the great recession.
Working in Finfech since 2008, I’ve seen many models emerge and be reimagined. Standardization and cost efficiency have been led by technological improvements. Stages around the world from Toronto to Paris to Singapore have showcased how finance is changing and evolving through the embrace of Fintech. This has been a global phenomenon since the very start, yet its development is not linear and the spearhead varies from region to region.
Fintech adoption is growing rapidly all over the world, but it’s in the emerging countries that it’s increasing at the fastest rate. According to a report just released by Ernst & Young, the EY FinTech Adoption Index 2017, where the consultancy firm surveyed more than 22,000 people from 20 different markets, the Chinese market is the one with the highest Fintech adoption rate, with 69% of the respondents saying that they were regularly using Fintech services.
Private transactions have since long been conducted directly between the transacting parties – for example, the investor and a private company. This process has largely been manual and cumbersome, and a large amount of diligence has had to occur in order for the parties to trust one another enough to undertake the deal. We’re seeing part of this transaction be made much more efficient by the transition to process trust.
We’re excited to announce that Crowd Valley will be speaking at Future Finance 2.0 Conference in Munich, about the new role of software developers in finance and how the financial services industry is evolving.
Borderless Finance is quickly changing the landscape for international financial flows asking more of the competitive players in this market while pushing for a reduction of the costs. Amidst this disruption, the consumer and entrepreneur continue to emerge as the beneficiaries.
Private transactions, both private equity and debt, have been inefficient and littered with information asymmetry due to the way the transactions have been made. The emergence of public distribution of information on private transactions seeks to change that and the quickly arriving secondary markets for private transactions can bring liquidity and efficiency to typically cumbersome asset classes.
Working with one its large retail bank customers, Crowd Valley has successfully passed an enhanced, independent security audit undertaken by one of the world’s leading information security consulting firms.
We’re pleased to announce that Crowd Valley will be speaking at the second edition of Viva Technology, or VivaTech for short, in Paris, about peer-to-peer models in alternative finance.