Fintech has not been on the radar in Spain long, it was long not known by most of the people and with just 50 financial technology companies, and with few successes. But things have improved quite rapidly and accordingly to Fintech Radar Spain 2016, prepared by Finnovista, the sector can now count 208 startups, with a 400% increase in just three years, and few players that are making waves.
In the wake of the Brexit, European financial hubs are competing to attract London-based firms looking to relocate in order to ensure the stability of their operations. If the true impact of the Brexit on the Fintech sector cannot be accurately predicted at this point, actors like money-transfer and payment companies might be tempted to move from London to another European city, which could guarantee a more stable political environment.
The vote cast in the UK Referendum came as a surprise to many. Ramifications and consequences will be significant and potentially long lasting, but new opportunities will emerge in various sectors. Crowd Valley remains committed to serving its existing clients in the UK, its future clients in the UK and continental Europe, as well as around the world. The need for modernization in financial services is unchanged and more relevant than ever.
We have recently seen several governments and financial regulators presenting regulatory sandboxes and now central banks are also stepping in, with a “Fintech Accelerator” that was announced by Mark Carney, the governor of the Bank of England (BoE) on Friday. It’s now more and more clear that the financial technology industry is maturing, transitioning from disruption to a sustainable growth, well supported and embraced by institutions.
Governments and regulators have been hard at work in recent months to get the most out of the revolution happening in the financial services industry with the nascent fintech sector. Creating a regulatory sandbox, to mitigate risk and let innovation flourish, is the path they have decided to follow.
Tallinn, Estonia, June 1, 2016—Crowd Valley, the digital back office provider for online private securities platforms, announces its collaboration with the Estonian e-Residency program. Crowd Valley will develop and extend its offerings through its work with e-Residency, a secure digital identity platform. The integration allows those with Estonian e-Residency’s secure digital ID to quickly and securely authenticate themselves or digitally sign in the private securities platforms supported by Crowd Valley.
The London Stock Exchange (LSE) organized an investment fund conference in late March, with alternative finance playing an important role at the event. Funds and wealth management business has especially need to find more uncorrelated assets in their operations.
The Monetary Authority of Singapore (MAS) announced new initiatives earlier in April to boost the country’s position as a global hub for the burgeoning financial technology sector.
AltFi Europe Summit was organized in London in late March. Online lending services and models particularly dominated the discussion. As a whole the UK-based services and UK regulation were in the main focus at the event. The event served as a good summary of the p2p lending and equity crowdfunding market in the UK and some other countries. At the same it also illustrated, how the discussion now focuses on a few services and countries, when much more happens behind the curtains.
We’ve written about the API Economy previously and expressed our optimism toward specialization of service providers in the financial services market. It looks like frameworks and proposals being put in place may speed up that development, by forcing uniform standards and requirements on the market. The revised Payment Services Directive (PSD2) may have a long term effect and catalyze the banking sectors position shift to piping from certain high-value services.
|
Categories
All
|