Fintech Finance Podcasts: The FF Salon podcast

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The War and Treaty Are Getting Carried Away 46:55

cách đây 7 ngày trước46:55

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46:55

The War and Treaty’s Michael and Tanya Trotter grew up in Cleveland, Ohio, and Washington, DC, respectively, but both have family roots in the South. They also grew up in the musical traditions of their churches – Tanya in the Black Baptist Church and Michael in the Seventh Day Adventist Church – where they learned the power of song to move people. After becoming a father at a very young age, Michael eventually joined the armed forces and served in Iraq and Germany, where he took up songwriting as a way of dealing with his experiences there. Meanwhile Tanya embarked on a singing and acting career after a breakthrough appearance in Sister Act 2 alongside Whoopi Goldberg and Lauryn Hill. Now, after a long and sometimes traumatic journey, Michael and Tanya are married, touring, winning all sorts of awards, and set to release their fifth album together, and their fourth as The War and Treaty. Sid talks to Michael and Tanya about the new record, Plus One , as well as their collaboration with Miranda Lambert, what it was like to record at FAME studios in Muscle Shoals, and how they’re blending country, soul, gospel, and R&B. Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Fintech Finance Podcasts: The FF Salon explicit

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FF News | Fintech Finance presents... well.. what is turning into a selection of creative, innovative spins on B2B podcasts! Kicking off with the ”FF Salon”, we interview some of the best and brightest in Fintech... while at the same time, cutting, styling & ”zhuzh”ing their hair; giving us much more intimate and deeper insight into what makes these executives and companies tick Coming up... - Carpool Conversations @ITC - The FF Salon @Sibos

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Fintech Finance Podcasts: The FF Salon explicit

updated cách đây 13 ngày trước

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#Business #Marketing #FF News Fintech Finance #From Money2020

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Fintech Finance Podcasts: The FF Salon

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Unlocking the Future of Digital Payments: Ever Evolving Customer Needs | Checkout.com | FF Virtual Arena #352 19:50

cách đây 13 ngày trước19:50

19:50

In this discussion, Ali Paterson is joined by Rory O'Neill, CMO of Checkout.com to explore the company's role in the evolving payments industry. Rory explains how Checkout.com helps major global merchants optimize digital payments, improve acceptance rates, and leverage data to enhance customer experience. They discuss how payment solutions are adapting to meet customer needs, the growth of AI in payments, and the challenges surrounding fraud prevention. Rory also highlights the significant shift in how companies approach payments as a core part of their operations. Checkout.com powers digital payments for global merchants like Alibaba and Vinted . Digital payment acceptance rates can dip as low as 80%, unlike the 99.9% success rate for in-person payments. Rory suggests the rise of Chief Payments Officers (CPOs) as businesses increasingly recognize the strategic importance of payments. Exploring the World of Merchant Payments Checkout.com is a leading digital payments provider that helps large merchants globally process payments. The company focuses on improving payment processing capabilities for high-profile brands like Vinted, Alibaba, and Delivery Hero. O'Neill discussed how the company aims to bridge the gap in digital payment acceptance, where rates can be as low as 80%, compared to in-person payments with success rates above 99.9%. He emphasized the importance of improving these acceptance rates to avoid billions in lost revenue. O'Neill shared his excitement about working in the payments market, a massive $2.3 trillion industry. He explained how Checkout.com’s focus on digital payments, combined with their technology, data infrastructure, and machine learning, positions the company to help clients improve their payment processes. O'Neill views the company's growth as both an exciting challenge and an opportunity to help merchants thrive in the digital space. Improving Payment Acceptance for Merchants A key area of focus for Checkout.com is optimizing small but impactful improvements in payment acceptance. Even minor increases in acceptance rates—measured in basis points—can result in millions or even billions of dollars in additional revenue for merchants. O'Neill believes payments are the unsung heroes of business, integral to revenue, profit, and cash flow, and advocates for a dedicated Chief Payments Officer (CPO) position within organizations to elevate its importance. Payment data offers deep insights into consumer spending behavior, and sharing this data across the payment ecosystem can help improve the payment experience and reduce fraud. O'Neill shared examples, like spikes in flower orders around Valentine’s Day, which show how merchants can leverage transaction data to improve their offerings and boost business. Understanding Consumer Payment Behavior When discussing trends in consumer payment behavior, O'Neill pointed to generational and regional differences. For example, in the US and UK, parents are buying mobile subscriptions for their children, while in China, Gen Z is purchasing subscriptions for their parents. He also highlighted that in regions like the UAE, consumers who sign up for subscription services tend to stay with those services long-term, providing valuable insights for merchants. Innovative Payment Solutions at Checkout.com O'Neill highlighted Checkout.com’s innovative tools, like their "Flow" product, which uses artificial intelligence to present consumers with the most suitable payment methods based on their location. This level of personalization can help improve conversion rates on merchant websites. O'Neill believes the future of payments lies in simplifying the process and integrating payments seamlessly into the consumer journey. He sees AI and machine learning playing a major role in making payments more invisible, smoother, and integrated into everyday life. The Future of Payments Looking ahead, O'Neill is optimistic about the future of payments, though he cautions that achieving full integration and automation may take time. He envisions a world where AI-driven agents will automate processes like booking taxis or ordering food, triggered by simple consumer actions. However, he acknowledges the challenge of coordinating these technologies to make this vision a reality. To further its mission, Checkout.com actively engages with the wider payments community, participating in major events like Money 2020 in Las Vegas and Amsterdam, and offering industry training through the Merchant Risk Council (MRC). The company also shares its latest insights on LinkedIn. Key Takeaways This conversation provides fintech professionals, bankers, and financial services enthusiasts with a deep dive into the crucial role of payments in the digital economy. It highlights ongoing challenges and innovations in the payment space and offers valuable perspectives on how businesses can leverage payment solutions to drive growth and customer satisfaction. For more great discussions on a variety of topics within finance and fintech, head to our website .…

Fintech Finance Podcasts: The FF Salon

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Navigating the NFC Shift: A Game Changer for Digital Wallets? | G+D and Juniper Research | FF Virtual Arena #351 38:25

cách đây 20 ngày trước38:25

38:25

Does NFC technology present opportunities for financial institutions beyond Apple Pay? Speaking to Jukka Yliuntinen from G+D Netcetera , G+D’s digital powerhouse division and Nick Maynard from Juniper Research , FF News’s Ali Paterson uncovers the evolving world of NFC technology and its impact on the digital wallet landscape in our latest FF Virtual Arena. Global adoption of NFC tech has been uneven but European Commission approval and Apple’s recent move to expand NFC access for third-party wallet apps, creates a unique opportunity. Is this shift poised to reshape the mobile wallet landscape, enabling banks to remain at the heart of consumers’ digital lives? Tune in to the video above find out more about: Has the “TFL effect” boosted Britain’s use of contactless payment methods? Global variations in NFC implementation. What could Apple’s NFC opening mean for financial institutions? What can they do to drive customer adoption? NFC Adoption Around The World In this video we have the ideal selection of guests. On the one hand there is Jukka Yliuntinen, who is Head of Digital Solutions at G+D ’s Digital Powerhouse, G+D Netcetera, and on the other, providing an insight into the landscape, we have Nick Maynard, VP of Fintech Market Research at Juniper Research. Together, they explore the current state and future of NFC (Near Field Communication) technology, particularly in the realm of digital payments and its impact on the wallet landscape. Kicking off the discussion, Maynard emphasizes the link between existing card infrastructure and NFC adoption. According to him NFC-based contactless payments have thrived in regions where card usage is already prevalent, like the US and the UK. Paterson prompts the possibility that there has been a “TFL effect” in London, where widespread use of contactless cards on public transport normalized the “tap-to-pay” behavior. Conversely, in markets where cash remains dominant, such as Germany and Austria, NFC adoption has been slower. Maynard also notes the rise of “tap-to-phone” technology, which lowers the barrier to entry for merchants by eliminating the need for dedicated terminals. He attributes the varying levels of NFC success to cost factors, with established card infrastructure making contactless payments relatively inexpensive to implement. The Apple NFC dominance Yliuntinen adds to this perspective by focusing on Apple’s recent decision to open its NFC interface for third-party wallet apps on iPhones, following European Commission approval. This move is potentially huge, allowing third parties, including banks, to develop NFC-based solutions comparable to Apple Pay, albeit with some limitations. Users in the European Economic Area with iOS 17.4 or later can now execute NFC transactions directly through compatible iOS apps, powered by Host Card Emulation (HCE). Further updates will allow developers around the world to leverage the Secure Element for NFC transactions from within their apps. Discussing the global variations in NFC capabilities, Yliuntinen highlights the difference between the European market, where use cases are accessible free of charge, and other regions, where fees are as yet undisclosed. We also get discussion about the competitive landscape, and whether Apple’s dominance in the NFC space is insurmountable. The strength of Apple’s ecosystem, brand loyalty, and user experience can’t be denied. Yliuntinen points out that Apple Pay users are generally satisfied and that the platform is deeply integrated into the iOS ecosystem. One study found that 90% of users report being satisfied with their Apple Pay experience. That is significant! But he also emphasises the potential for banks and other players to leverage their existing customer relationships and offer integrated services, such as loyalty programs and digital identity solutions, as a way to compete. He suggests that banks need to define their broader mobile strategy and position NFC-enabled payments within that context. Future of NFC’s Simply replicating the Apple Pay experience is not a viable strategy, Maynard agrees. He believes that banks and issuers should focus on offering value-added services, such as loyalty programs, rewards, cashback, and integrated identity services. A hybrid approach, where banks continue to support existing mobile payment services like Apple Pay while simultaneously developing their own solutions could be the road forward. This approach minimizes the risk of customer churn and allows banks to gradually transition users to their own platforms. There should also be a clear return to investment strategy, and banks need to consider NFC-enabled payments as part of a wider digital wallet strategy encompassing account-to-account payments, open banking, and personalized financial management. Looking ahead to 2025, Maynard outlines several key trends to watch. He highlights the integration of NFC capabilities into existing fintech solutions and digital wallets, citing examples like Curve and PayPal. He also anticipates increased use of “tap-to-phone” technology, particularly in smaller businesses. He suggests that incentivization through loyalty programs and partner ecosystems will be a key factor in driving adoption. Finally, he points to the potential disruption of adjacent markets, such as the “buy now, pay later” sector, as these companies explore integrating NFC into their offerings. He also mentions the potential for partnerships between card issuers and other fintech companies, such as crypto exchanges, to create integrated experiences. In short, we could see a lot of experimentation and innovation ahead. Yliuntinen makes the point that a Global SecurityTech like G+D can empower bank’s customers to tap and pay with confidence – enabled by them and backed by their trusted bank. For more great discussions on a variety of topics within finance and fintech, head to our website .…

Fintech Finance Podcasts: The FF Salon

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The Future of Fraud Prevention… And Why The Human Touch is Still Needed | myTU | FF Virtual Arena #350 28:16

cách đây 5 weeks trước28:16

28:16

Fraud prevention is evolving… But a human touch is still needed. That’s according to Tomas Navickas, co-founder of myTU , a digital banking provider with a unique focus on efficiency and sustainability. We spoke to him for our latest FF News Virtual Arena, in which he explains their focus on AI-driven automation for fraud detection, compliance, and customer support. Watch the video to find out more about… Their extreme efficiency, serving 50,000 clients with just $1,000/month in infrastructure costs. How AI could drive more effective fraud prevention. Their fresh approach to strategic team growth. A bank with a product first mindset In this Virtual Arena Tomas Navickas, co-founder of myTU , shares the story behind the creation of their digital banking platform, which has a product-first mindset. With a background in software development and payments spanning nearly two decades, Navickas was introduced to his co-founder, Roman, who had the vision for a digital bank when such institutions were still rare. The goal was to create a sustainable digital banking model, avoiding the cash-burning strategies of venture-backed fintechs, and to prioritize financial accessibility and education, particularly for younger users. As for the market need that inspired myTU, Navickas explained that while digital banks are improving accessibility compared to branch-based banking, trust remains a key hurdle. A lot of digital banks still rely on cash rewards to attract customers, but this doesn’t necessarily translate into long-term trust or engagement with higher-value financial products like loans or mortgages. myTU in response aims to offer an efficient and convenient banking solution for individuals, families, and travelers while maintaining financial sustainability and operational efficiency. AI’s role in digital banking The conversation then shifted to AI’s role in digital banking. It’s certainly a major topic of conversation , with many banks considering how it will play a role. Navickas highlighted that when myTU started, advanced AI models weren’t as readily available as they are today. Initially, automation was achieved through traditional coding methods, identifying and optimizing processes like transaction categorization and multilingual customer support. However, with the advent of models like OpenAI’s ChatGPT, myTU was able to significantly enhance fraud detection, transaction analysis, and customer communication. AI’s ability to make nuanced, context-aware assessments—rather than relying on rigid rule-based systems—has greatly improved fraud prevention by identifying suspicious patterns and anomalies in invoices, pricing, and transaction behavior. AI has enabled a real shift in the way they do things, allowing teams to focus on reviewing and refining AI-driven decisions rather than making every decision manually. However, he cautioned that AI without proper oversight can be overly aggressive in flagging transactions, requiring careful prompt engineering and fine-tuning to balance security with usability. Extremely efficient banking One of the most striking aspects of myTU’s model is its extreme efficiency. With a customer base of 50,000, the company maintains a cloud infrastructure cost of just $1,000 per month. Navickas attributed this to their commitment to lean architecture and in-house development, avoiding unnecessary reliance on third-party services. Unlike many startups that rapidly scale their teams and software dependencies, myTU follows a philosophy of building efficient, sustainable technology, inspired by earlier software development practices that prioritized minimal resource consumption. While myTU keeps some services in-house, such as customer support and software development, certain tasks like card printing are outsourced due to high security and regulatory requirements. However, their overall philosophy remains one of in-house efficiency, allowing them to operate with just 25 employees, including a development team of only five people. The discussion continues with thoughts on the impact of APIs, and myTU’s vision for scaling in Europe (and the challenges they might face there). Be sure to catch the full interview above, and watch more of our Virtual Arena interviews, right here on our website .…

Fintech Finance Podcasts: The FF Salon

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The Huge Potential of Card Recycling in Banking | G+D and Mastercard | FF Virtual Arena #348 34:25

cách đây 6 weeks trước34:25

34:25

Increasing numbers of banks are releasing payment cards made of recycled plastics, but how do you get customers involved even further in the sustainability journey? Our latest Virtual Arena explores that challenge. We find out how banks can recycle expired payment cards, and involve the end-customers for the benefit of the local community. Joining us are industry leaders Maya Reisinger from G+D and Joe Pitcher from Mastercard to talk about the environmental benefits and challenges of card recycling, and the need for collaboration to scale impactful solutions. Watch this insightful conversation to find out more about… How recycling could drastically reduce plastic waste from billions of cards annually. How Mastercard are working to address cost, security, and expertise gaps in recycling programs. The exciting technology G+D are working on to help banks showcase ESG commitments effectively. What is Card Recycling? Of course, first things first, it was important to know what card recycling entails. Maya Reisinger, who is Product Management Director of the Convego Beyond portfolio at G+D, introduced this as a method of repurposing expired payment cards instead of discarding them in landfills. She emphasized the flexibility in this approach, noting that some banks integrate recycling into their ESG commitments without publicizing it, while others use it as a tool for customer engagement. G+D are committed to helping banks be more sustainable with a number of focused offerings . Joe Pitcher is Vice President of the sustainable cards program at Mastercard & also happens to be Chair of the Greener Payments Partnership, so he made for an ideal contributor to this conversation. He elaborated, describing card recycling as a shift from traditional disposal methods to redirecting these materials into reusable streams. It’s important of course to ensure consumers and institutions are clued up on sustainable practices and mentioned Mastercard’s research into advanced recycling methods, such as chemical recycling, to further innovate in this space. Why is Card Recycling Worth Pursuing? Both speakers stressed the environmental and symbolic value of card recycling. Reisinger explained that recycling aligns with the industry’s broader sustainability goals, reducing waste and the carbon footprint associated with virgin plastic production. Pitcher quantified the potential impact, noting that recycling even a fraction of the billions of cards produced annually could eliminate significant amounts of plastic waste. Just think, there were 17.45 billion credit, debit, and prepaid cards in circulation worldwide as of the end of 2023. That’s a lot of plastic. He framed these efforts as small but crucial steps towards sustainable goals, signaling the banking industry’s commitment to sustainability. The Challenges Facing Banks in Card Recycling Implementing card recycling programs presents hurdles for banks, including concerns over data security, cost management, and finding the right recycling partners. Pitcher pointed out that many banks lack expertise in recycling, making it difficult to know where to start. Mastercard has addressed this by partnering with TerraCycle and creating scalable programs to simplify participation and reduce costs. Reisinger added that banks often struggle to allocate resources to such initiatives, as recycling is not their core focus. G+D helps by tailoring solutions to individual banks’ needs, from secure card collection to partnerships with local recyclers. A partnership they have with Santander are an example of this, where G+D manages card shredding and recycling whilst the bank can document compliance with ESG standards. A Shared Vision for Sustainability Both Reisinger and Pitcher highlighted the importance of collaboration in overcoming barriers and driving scale. Pitcher emphasized the role of economies of scale in making recycling programs more cost-effective, urging banks to pool efforts under unified programs. Reisinger reinforced the need for external expertise, noting that G+D leverages its global partnerships and experience to streamline processes for banks, making recycling programs feasible and impactful. The discussion also touched on the broader sustainability landscape. G+D is the first payment card provider to pledge the end of using virgin plastic in payment card products by 2030. In parallel, Pitcher noted Mastercard’s mandate to eliminate first-use PVC from card production by 2028, encouraging the use of recycled or bio-based materials. Reisinger also discussed G+D’s lifecycle analysis approach. This means ensuring sustainability considerations run all the way through to product design and material choices from the outset. Card recycling won’t solve all environmental challenges, but it turns a challenge into opportunity and it represents a significant step forward for the financial sector. It may even increase customer trust in their bank. To watch more great conversations like this one, on all areas of banking, payments and fintech, be sure to check out more of our Virtual Arena’s on ffnews.com .…

Fintech Finance Podcasts: The FF Salon

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Customer Onboarding and Fraud: The Challenges | Mitek and NatWest | FF Virtual Arena #349 28:57

cách đây 6 weeks trước28:57

28:57

Our latest Virtual Arena explores the challenges and strategies in place to ensure secure and inclusive customer onboarding while also making the process user friendly. Financial institutions are cautiously increasing the data collected from customers—both actively and passively—which is used to enhance identity verification and transaction security. Chris Briggs, Chief Product Officer at Mitek Systems and Kathryn Robinson, Commercial Global Lead at NatWest discuss the focus that banks have to enhance security and KYC processes. Briggs and Robinson agree that banks need to reduce friction while ensuring robust security and that digital verification and fraud prevention tools such as biometrics, such as voice, fingerprint or facial recognition, offer quick and efficient processes but these technologies aren’t always available to those without digital resources. Fraudsters have been exploiting gaps between different banks’ security measures, and moving their tactics to areas of lower resistance, however the inclusion of AI in fraud facilitates both the creation of fraud and its detection through advanced algorithms. Fraud techniques like face swaps and social engineering are countered by AI-driven checks and secondary verification processes. Biometrics, such as fingerprints, voice facial recognition aim to simplify customer interactions but are not foolproof and require measures like liveness checks and layered fraud prevention strategies. Deepfakes are a more sophisticated type of fraud that banks are seeing emerge at a very rapid pace and AI chatbots that interact with fraudsters delay their effort and are considered as potential future strategies for direct fraud prevention. Mitek’s solution focuses on minimising false positives and ensuring fraud strategies do not hinder genuine customers, emphasizing that banks must offer inclusive, flexible solutions that cater to diverse customer needs, balancing efficiency and security. The availability of this advanced technology to anyone amplifies the reach and impact of fraud campaigns. A broad-based topic, the world is seeing a lot more emerge in the regulation around AI, biometrics, the use of biometrics and their effectiveness, when they can be used and not. In conclusion, combatting fraud requires continuous adaptation, with a mix of technology and human intervention, customer education, and regulatory compliance.…

Fintech Finance Podcasts: The FF Salon

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Under the Hood: How AI Software Can Drive Banking Success From the Inside | Pendo, ING and Nordea | The Fintech Show #150 9:25

cách đây 9 weeks trước9:25

9:25

How GenAI can be used to supercharge financial services from the inside out. There's a lot of talk about how Generative AI can be used to improve customer experience, but what are the implications for internal software and back office processes? In this episode of The Fintech Show, Trisha Price from Pendo , Marnix van Stiphout from ING , and Søren Andreasen from Nordea discuss the transformative impact AI is having in this area. Tune in to this informative episode to find out how: AI can automate KYC and CDD processes. Banks are leveraging AI to tailor user interfaces based on roles and experience. Tech can help surpass challenges posed by legacy systems. Leveraging AI for Digital Transformation AI adoption in all industries is growing and this is certainly true of financial services. According to the FCA, in the UK, 75% of firms are already using artificial intelligence (AI), with a further 10% planning to use AI over the next three years. Many organisations are now thinking about how it can be used to boost internal processes and the day to day lives of employees. But just implementing these tools doesn't necessarily guarantee success. Trisha Price, who is Chief Product Officer at Pendo, points out that the success of this depends on how well financial institutions use data. She highlights three types of data that are crucial: quantitative (how employees use applications), qualitative (how they feel about them), and visual (tracking user behavior like repetitive clicks, which indicate frustration). By analyzing these data points, financial institutions can refine employee and customer experiences, ensuring that the software investments they make, actually do yield productivity gains and business value. AI’s Role in Banking Operations So how can AI be used in banking? We’ve looked at this before and got more great thoughts in this episode. Marnix Van Stiphout, Chief Operations Officer at ING, acknowledges that while machine learning has been integral to banking for years—powering services like instant lending—generative AI (GenAI) presents new opportunities. One area he sees particular promise in is streamlining Know Your Customer (KYC) and Customer Due Diligence (CDD) processes, which traditionally require significant manual effort. AI-driven automation can gather and analyze vast amounts of data, enabling faster decision-making and reducing operational costs. Søren Rode Jain Andreasen, Head of Digital Customer Engagement Hub at Nordic bank Nordea, echoes this sentiment, noting that many banks, including their own, are already using AI internally to enhance efficiency. AI-driven automation shortens process cycle times and improves customer experience while maintaining data security. It’s also being used internally for everything from risk assessments to capital requirement models, and GenAI is quickly becoming another essential tool. AI Powered Decision Making Of course, we’re also interested to learn how AI is shifting the role of bankers by acting as a decision-support tool. Price talks about how AI-driven assistants can analyze customer data to suggest personalized product recommendations and pricing strategies. Beyond insights, AI agents are beginning to take on tasks traditionally handled by employees, further streamlining operations and improving customer interactions. Van Stiphout emphasizes the strategic question of whether to build or buy AI solutions. He suggests that banks should develop AI tools in-house if they directly impact client satisfaction. However, echoing Price’s earlier thoughts, he stresses that successful AI implementation depends on data readiness—ensuring that data is clean, structured, and accessible. Another key challenge in banking is legacy systems, something Andreasen clocks onto. Advisors often have to navigate multiple platforms, increasing the risk of errors when transferring data. The good news is AI can help automate these processes and detect inconsistencies, reducing error rates and enhancing operational accuracy. Personalization Through AI We talk about personalisation a lot and this is something that has come up before, in interviews with the likes of CX bot, Zingly.ai . But it’s not just personalising the customer experience that could be valuable. Price also discusses AI’s role in creating personalized experiences for employees too. Consumer platforms like Amazon and Netflix have shaped expectations for personalization, and financial institutions must follow suit. AI can tailor software based on the user’s role, experience level, and language preferences. For instance, an underwriter and a retail banker should have distinct interfaces suited to their tasks. Similarly, first-time users might benefit from a simplified experience, while seasoned professionals require quick access to advanced functionalities. She also highlights AI’s role in localization, enabling automatic translation of banking interfaces to serve diverse customer bases. This ensures seamless communication and improves accessibility for global users. As shown by this discussion AI is no longer a futuristic concept it’s a present day reality and it’s changing the way banks operate. Watch the video to find out how it could work for your organisation and check out our website for more great videos just like this one.…

Fintech Finance Podcasts: The FF Salon

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How BaaS Can Open New Revenue Streams for Banks | Tuum, Zenus Bank and LHV | The Fintech Show #149 11:10

cách đây 9 weeks trước11:10

11:10

In the latest episode of The Fintech Show, Rivo Uibo from Tuum , Gabriel Viera from Zenus Bank , and Daniel Rowlands from LHV Bank discuss the evolution of Banking-as-a-Service (BaaS), and the revenue generating possibilities it presents. As the space matures, priorities are changing. Seamless onboarding is one major goal but compliance is also key. Watch the episode to find out about: Open APIs are presenting very real opportunities to scale. How Zenus Bank are enabling LATAM super apps to offer U.S. banking services. The challenges facing Open Banking growth? The Evolution of Banking-as-a-Service (BaaS) The BaaS market has matured. For one, it is growing. It was valued at $15.9 billion in 2023 and is expected to expand to $64.7 billion by 2032 . Commenting on the demand for this technology, Tuum co-founder Uibo suggests that banks are now under pressure to stay relevant in an increasingly competitive landscape, seeking new revenue streams while leveraging their existing infrastructure. Initially, many BaaS providers targeted fintechs with relatively simple offerings but as the market evolves, compliance and economic viability have become critical focus areas. Now, successful players in this space, like LHV and Zenus, are focusing on solving real problems and delivering high-value integrations to their specific customer segments. Rowlands from LHV, builds on this by emphasizing the importance of seamless onboarding for scaling operations. Efficient KYC (Know Your Customer) and KYB (Know Your Business) processes allow fintechs to expand quickly across multiple jurisdictions without administrative bottlenecks. LHV, who saw significant growth in 2023 and 2024, embraces an open approach and its APIs are publicly available to ensure transparency and ease of integration. Rowlands believes that fostering collaboration in this way is essential for driving industry progress. Viera, who is Chief Compliance Officer at Zenus, provides a real-world example of how their offering enhances customer engagement while expanding market reach. Super apps in Latin America, for instance, can now offer U.S. banking services directly to their users, creating a frictionless experience. Zenus’ approach allows for deep customization via APIs, ensuring a tailored and branded user experience. The Role of Technology in Scaling Modern Banking Modern banking platforms need cloud-native, API-first architectures, Uibo says. By leveraging microservices and asynchronous processing, institutions can achieve the scalability required to support high transaction volumes while maintaining 24/7 availability. These technological advancements ensure that BaaS providers can meet growing customer demands without compromising reliability. Viera also explains how Zenus Bank has strategically evolved from a digital bank into a flexible platform supporting diverse business models. By offering embedded banking solutions, Zenus differentiates itself and gains access to new demographics, particularly in international markets. Through strong B2B relationships, the bank can extend its services beyond traditional banking, making financial services more accessible across various industries. Rowlands shares LHV’s journey in open banking, highlighting its well-established presence in Estonia, where LHV powers payments infrastructure across physical and digital channels. Now, the bank is bringing this expertise to the UK, launching a retail bank and providing payment initiation services to fintech clients who want to generate revenue this way. There are challenges to commercializing open banking however. Many providers struggle with compressed margins and fierce competition. The way forward, he argues, is moving beyond basic transaction services and solving more complex problems like fraud prevention and payment orchestration—areas where businesses are willing to pay for real value. Tuum’s Unique Advantage in Banking Infrastructure Uibo positions Tuum as a company with a deep-rooted understanding of banking infrastructure, shaped by decades of experience. It’s certainly true that they have consistently pushed technological boundaries, from building real-time transactional core banking systems in the early 2000s to developing microservices-based platforms. This expertise gives Tuum a competitive edge in delivering scalable and secure banking solutions tailored to today’s needs. We also hear about the critical role of data in payment processing from LHV’s Rowlands. With multiple payment schemes and varying acceptance rates across banks, fintechs need better insights to optimize transaction flows. LHV helps clients navigate these complexities, advising on the best payment routes and minimizing potential pitfalls like IBAN discrimination. There are a number of key takeaways here and the discussion underscores how modern banking is opening up new revenue streams through agile, technology-driven ecosystems. Be sure to let us know what you think of the episode above and catch more great conversations just like this one, on our website .…

Fintech Finance Podcasts: The FF Salon

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What if European Startups Had a Silicon Valley Mindset? | Hoxton Ventures | FF Virtual Arena #347 22:14

cách đây 12 weeks trước22:14

22:14

What if European Startups had access to a Silicon Valley mindset? In the latest Virtual Arena we spoke to Hussein Kanji, founding partner of Hoxton Ventures , who shared his perspective on early-stage venture capital and some of the challenges facing the European tech ecosystem. It’s a really interesting look at how we can build globally competitive companies in Europe. Watch the interview to find out how… Hoxton Ventures combine European focus with Silicon Valley principles to scale startups internationally. How growth-focused valuations differ compared to the U.S. market. His thoughts on the future of cybersecurity. Hussein Kanji is a founding partner at Hoxton Ventures, with significant experience in the VC industry, both in the U.S. and Europe, and offered a fascinating perspective for fintech professionals, bankers, and enthusiasts. A Career Rooted in Early-Stage Investing In the interview, Kanji began by explaining his role at Hoxton Ventures, a firm he co-founded a decade ago, specializing in seed-stage investments. His career path led him from building companies on the U.S. West Coast to joining a major American VC firm, and ultimately establishing Hoxton Ventures in London. His focus on early-stage investing stems from his entrepreneurial roots and a belief that the early phases of a company’s journey are the most rewarding, albeit risky. Kanji emphasized that identifying promising startups at this stage requires a blend of art and science. With three IPOs from 17 investments in their first fund, their record demonstrates their expertise. The Early-Stage Appeal When asked why he chose the risky early-stage market, Kanji highlighted its intellectual stimulation and potential to shape the future. He reflected on his early encounters with venture capitalists, noting how their role as financial enablers rather than creators aligned with his strengths. This inspired his shift from entrepreneurship to investing. Early-stage VC, according to Kanji, allows for profound impact by helping startups build a foundation for growth, often leading to transformative outcomes. A European Venture Firm with a Silicon Valley Mindset Kanji outlined Hoxton Ventures’ distinctive approach: combining a European presence with Silicon Valley principles. The firm prioritizes guiding startups to scale in the U.S., recognizing it as the world’s largest accessible market. This strategy often involves encouraging founders to focus on America early, despite the challenges of relocation and expense, as the U.S. market can exponentially increase a company’s size and valuation. Another cornerstone of their strategy is leveraging Silicon Valley’s accumulated expertise. By maintaining connections with the Valley, Hoxton ensures its portfolio companies remain competitive on a global scale. Kanji emphasized the importance of understanding what “best-in-class” means by benchmarking European startups against their American counterparts, benefiting from decades of industry knowledge concentrated in California. Challenges in the European VC Landscape Kanji candidly discussed the challenges European startups face compared to their U.S. peers. He highlighted the cultural and structural differences that impact valuations, particularly in public markets. For example, high-growth companies like Darktrace struggled to achieve U.S.-equivalent valuations in the UK , partly due to the London Stock Exchange’s preference for dividend-paying, profit-oriented firms. This discrepancy underscores a broader issue: the need for Europe to adopt a growth-first mindset to attract and retain high-potential startups. Kanji believes Europe is still in its early days as a tech ecosystem but is making strides. While the region produces unicorns, the challenge lies in scaling these into $100 billion or $500 billion giants. He suggested this requires fostering a more ambitious investment culture and addressing structural issues in capital markets. Fintech, Cybersecurity, and Infrastructure: Key Trends Though Hoxton hasn’t invested heavily in consumer fintech, Kanji expressed admiration for companies like Revolut and Monzo. He acknowledged a missed opportunity with Monzo in its early days but noted Hoxton’s strength lies in fintech infrastructure. One of their portfolio companies, Vitesse, exemplifies this focus. Vitesse simplifies financial operations for insurance firms, enabling efficient fund transfers while maintaining control—a critical innovation in the insurance industry. On cybersecurity, Kanji commented on Darktrace’s privatization, viewing it as undervalued in the UK public markets. He suggested the company could achieve a higher valuation in the U.S., reflecting the difference in market attitudes towards growth and profitability. He also highlighted the strategic appointment of Darktrace’s CEO, Poppy Gustafsson, as the UK’s Investment Minister, signaling the country’s intent to improve its investment climate. The Path Forward for European Startups Kanji concluded by reflecting on the evolution of Europe’s tech ecosystem. While optimistic about the region’s potential, he stressed the importance of building world-class companies capable of competing globally. The key, he argued, lies in fostering a supportive investment environment that prioritizes long-term growth over short-term profitability, paving the way for more transformative success stories. It’s a candid and thoughtful exploration of the venture capital landscape. You can catch other conversations just like this one on our website .…

Fintech Finance Podcasts: The FF Salon

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How to Differentiate as a Fintech Startup | Jump Capital | FF Virtual Arena #346 27:01

cách đây 12 weeks trước27:01

27:01

These areas of fintech could be big in the next few years. In a great conversation on the FF Virtual Arena, Tarun Gupta of Jump Capital shared his journey from investment banking to fintech investment, and let us know how compliance can become a strategic advantage. There’s a huge amount of funding still going into the fintech sector, which is growing all the time. This list of the hottest 250 startups in Europe from Sifted, shows that there are still plenty of neobanks and fintechs doing the business. Now, a lot of funding is going into AI right now, but even within fintech, areas like wealth management are seeing a lot of investment. That’s why it’s so important to hear from those on the funding and investment side. Catch more interviews just like this one over on our Virtual Arena page. Watch the full interview to find out more about: Compliance as a competitive differentiator. Jump Capital’s investment philosophy. The emerging threats around payment fraud and what’s needed to prevent it. From Investment Banking to Fintech Investment Of course, whenever we do a profile like this, we do like to get a good look up inside their career. After giving us the lowdown, Gupta provided valuable insights tailored for fintech professionals, bankers, and enthusiasts keen on the industry’s evolution. Gupta began his career in investment banking, working on mergers and acquisitions, where he gained deep exposure to deal processes. From there he transitioned to corporate development at Scientific Games, driving growth through multiple acquisitions. But it was his interest in supporting early-stage companies through their growth trajectories that led him to Jump Capital. Here, he specializes in fintech investments, leveraging his extensive experience to identify and back transformative startups. Jump Capital’s Investment Philosophy Founded 12 years ago, Jump Capital focuses on early-stage investments (seed to Series A) across three main verticals: enterprise software, IT infrastructure, and fintech. Gupta dedicates his time exclusively to fintech, seeking out innovative solutions that address pressing “hair-on-fire” problems exacerbated by macro trends like regulatory changes or shifting consumer behaviors. As for what they’re looking for, the firm looks at two main things. Identifying software solutions that offer measurable ROI to address significant business challenges. Backing founders with unique insights and resilience, traits essential for navigating the unpredictable startup landscape. Fintech Compliance: From Cost Center to Competitive Advantage One of the big talking points in financial services is always compliance. But Gupta discusses a paradigm shift when it comes to how compliance is perceived in the industry. Traditionally viewed as a back-office cost, compliance can now be seen as a differentiator, particularly amid increasing regulatory scrutiny. He explained how robust compliance frameworks can drive sustainable growth and position firms competitively. Gupta noted that many compliance processes remain manual and outdated, presenting a ripe opportunity for innovative software to streamline and enhance these functions. Payment Fraud: Emerging Threats and Innovations There’s also a lot of talk about payment fraud, where Gupta sheds light on two pressing areas: chargeback disputes and push payment scams. He noted the growing prevalence of “friendly fraud,” particularly among younger consumers, and the need for banks to adopt more sophisticated tools for dispute resolution. Gupta highlighted the regulatory developments in the UK that mandate banks to reimburse victims of push payment fraud, a trend he anticipates will influence the US market. He pointed out the delicate balance fintechs must strike: introducing enough friction to deter fraud without disrupting user experiences. Innovative solutions, such as systems that pause high-risk transactions for verification, are paving the way for more secure and user-friendly financial ecosystems. Gupta’s insights underscore Jump Capital’s commitment to identifying and nurturing fintech solutions that address critical industry challenges. It’s a great insight into one of the companies driving the industry forward.…

Fintech Finance Podcasts: The FF Salon

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This Bank Rewards You for Positive Financial Habits | Discovery Bank | FF Virtual Arena #345 23:43

cách đây 12 weeks trước23:43

23:43

This bank rewards you for positive financial habits. In the latest FF Virtual Arena, we’re joined by Discovery Bank CEO Hylton Kallner to discuss the bank’s rapid growth, innovative approach, and the future of digital banking in South Africa. Discovery Bank are seeing a startling rise to prominence through their shared-value model, which rewards customers for positive financial behaviour, and have been branchless from day one. Watch the interview to hear more about this fascinating approach and… Their latest customer milestone, two years ahead of schedule. Why they’re the World’s First Behavioural Bank. What their AI-powered co-pilot looks like. Ahead of Schedule Speaking to Ali Paterson, Hylton Kallner, CEO of Discovery Bank, was happy to talk about recently celebrating the milestone of reaching one million customers —an achievement realized two years ahead of schedule. They’ve been making waves in an emerging market and it’s impressive to see. South Africa’s banking system, Kallner explains, was already robust and well-regulated before Discovery Bank entered the market. Unlike some regions where fintechs emerged to address systemic failures, South Africa’s banking sector was stable and mature. However, their own research revealed a clear demand for digital banking, with nine out of ten South Africans expressing a preference for online solutions. Despite widespread branch infrastructure, the rise of smartphone penetration—even in rural areas—created a fertile ground for a fully digital banking experience. Discovery Bank seized this opportunity by launching a branchless, full-service digital bank, eliminating the traditional constraints of physical infrastructure. This approach not only appealed to customers looking for convenience but also enabled the bank to focus entirely on user-centered technology and design. Building a Bank from Scratch Like a lot of neobanks, one of Discovery Bank’s key advantages was its lack of legacy systems, which allowed it to build its technology stack from the ground up. Kallner described this as both a challenge and a luxury. The bank uses an SAP platform for industrial-strength back-end operations while designing bespoke front-end systems to create seamless customer experiences. Features like instant account opening with full compliance checks reflect this focus on simplicity and efficiency. In addition to its digital offerings, Discovery Bank introduced a hybrid service model that combines advanced technology with highly qualified human support, including private banking services. This dual approach provides the flexibility of digital banking alongside personalized assistance, setting it apart from many fintech challengers. The World’s First Behavioral Bank Discovery Bank’s most distinctive feature is its “behavioral banking” model, which rewards customers for healthy financial habits. The bank tracks five key metrics, such as spending less than you earn and maintaining sufficient retirement savings. Unlike traditional credit scoring, this approach is income-agnostic, recognizing that financial behavior, not income level, determines risk. By incentivizing positive behaviors, Discovery Bank aligns its goals with those of its customers. For example, clients who manage their finances responsibly benefit from better interest rates, discounts on travel, and Discovery Miles —a rewards currency that can be used for shopping or flights. This shared-value model, inspired by Discovery Group’s broader focus on wellness, fosters a mutually beneficial relationship between the bank and its customers. Gamification and Engagement Core to Discovery Bank’s strategy is gamification. Customers can set personalized goals related to spending, health, and even driving habits, earning rewards for meeting these objectives. Weekly challenges and a game-like reward system have led to high levels of engagement, with some customers maintaining streaks for nearly a decade. Kallner noted that this gamified approach not only incentivizes good behavior but also deepens customer loyalty, creating an ecosystem where financial and personal well-being are interconnected. AI: Enhancing Service Behind the Scenes Of course, we had to find out what role AI is playing in their banking strategy too and Kallner highlighted the transformative role of AI in their bank, particularly in operations. Discovery Bank has implemented AI “co-pilots” in its call centers, equipping bankers with instant access to product knowledge and solutions. This technology has significantly reduced training time, improved first-call resolution rates, and enhanced customer satisfaction. For customers, this means faster, more accurate service, while bankers can focus on empathy and value-added advice rather than routine queries. Kallner pointed out that AI democratizes private-banking-level service, making it accessible to a wider audience. Scaling for the Future Looking ahead, Discovery Bank sees significant potential for growth, both within South Africa and across the continent. Kallner emphasized the scalability of the bank’s digital-first platform, noting its ability to expand without adding substantial human resources. However, regulatory challenges and compliance requirements will play a key role in determining the pace and extent of cross-border expansion. Kallner also hinted at the transformative potential of cloud-based platforms, which eliminate the need for physical infrastructure in new markets. While he refrained from committing to specific growth targets, he expressed confidence in the platform’s capacity to scale significantly. It’s an impressive journey that reflects a bold vision for the future of banking, and one that could very easily be replicated around the world. We hope you enjoy this insight into this particular challenger and be sure to check out our other interviews with fintech leaders on our website .…

Fintech Finance Podcasts: The FF Salon

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Investing in the Future of Insurance | Admiral Pioneer | FF Virtual Arena #344 23:53

cách đây 14 weeks trước23:53

23:53

Investing in the future of insurance. Admiral Pioneer, the insurer’s venture-building arm, is investing in the next generation of insurance technology. In our most recent FF Virtual Arena, we spoke to CEO Emma Huntington, to find out more. Partnering with the likes of Flock, and leveraging technology like generative AI, they are looking at ways they can enhance claims processes and customer experiences. Join the discussion as we find out: How to remain relevant to younger consumers. Which of their portfolio companies they’re most excited by. How Generative AI and data-driven insights could be used in insurance. Read on to find out more. The Vision Behind Admiral Pioneer To begin the discussion, we find out their motivations behind launching this venture initiative. We’ve spoken to a number of established companies who have done a similar thing, including KPMG , PayPal and FIS , and it’s always good to get an insight into what’s behind it all. In a similar fashion Admiral Pioneer was created to diversify Admiral Group’s business portfolio by fostering new, high-potential ventures. For Admiral, they’re being quite selective. The goal, according to Huntington, is to nurture one or two commercially strong businesses that align with Admiral’s core values of customer-centricity and operational excellence. They also provide an entrepreneurial space for Admiral’s talent. Host Ali Paterson, described Admiral Pioneer as being a “speedboat” maneuvering with agility while tethered to Admiral’s “big ship.” Huntington echoed this analogy, using instead the sandbox metaphor for experimenting with innovative products, distribution methods, and customer segments, in service of supporting the main enterprise. Navigating a Shifting Insurance Landscape Insurance is undergoing a transformation. Funding in B2B SaaS is on the rise , and GenAI is being used more than ever. Reflecting on the rapid evolution of the insurance industry, Huntington highlighted several key drivers of change: Post-Pandemic Transformation: The challenges of launching Admiral Pioneer during the pandemic underscored the importance of adaptability and maintaining strong internal relationships in a remote environment. Insurtech Disruption: The rise of insurtechs has pushed traditional insurers to innovate. Huntington likened this wave of change to the impact of Open Banking on the financial sector, with insurtechs giving greater flexibility, personalisation, and usage-based models in insurance. Customer Relevance: Traditional insurance isn’t typically top-of-mind for consumers, but emerging technologies are enabling insurers to provide more meaningful, everyday interactions. Collaborating with Insurtechs Given these trends, Admiral Pioneer is all about partnering with insurtechs, and Huntington points out the mutual benefits of combining the tech-savvy agility of startups with the insurance expertise of incumbents. There are some pitfalls to these partnerships however, including misaligned expectations and timing mismatches. For instance, while insurtechs focus on scaling quickly, insurers may require more time to integrate solutions. Clear communication and aligned goals are critical to successful collaboration. Huntington shared an example of Admiral Pioneer’s partnership with Flock , an insurtech specializing in fleet insurance. By setting clear expectations and aligning on values and culture, this collaboration has yielded promising results since its launch in mid-2023. Who are the core companies in Admiral Pioneer’s portfolio There are a few specific ventures in Pioneer’s portfolio, aimed at addressing specific customer needs. Here’s the main ones. Veygo : Focused on learner and temporary drivers, this business provides tailored insurance options, including subscription models to match consumer habits. Veygo caters to both young drivers and their parents, helping build confidence and independence. Admiral Business : Initially launched as a tool insurance product, this offering has expanded to cover tradespeople, small businesses, and professional liabilities. The venture leverages customer and broker feedback to continuously refine its products. Fleet Insurance : Admiral Pioneer’s expertise in motor insurance extends to fleet insurance, supported by partnerships like the one with Flock, to offer innovative, data-driven solutions. Generative AI and the Future of Insurance Of course, the potential of generative AI (GenAI) has the potential to transform the insurance value chain. Huntington identified a few key use cases in the chat above, including: Claims Management: Streamlining processes with automated data collection and analysis to enhance the customer experience. Pricing and Underwriting: Leveraging AI to improve accuracy while combining human expertise and data science. Customer Engagement: Personalizing interactions and service design based on deep customer insights. Vehicle Data Utilization: Exploring opportunities in motor insurance by integrating data from connected and autonomous vehicles. Despite its potential, Huntington stressed the importance of robust governance and ethical considerations when deploying AI, ensuring customer trust remains paramount. Adapting to Changing Consumer Behaviors We also get some insightful thoughts on shifting attitudes among younger generations, particularly in how they engage with insurers. With preferences for platforms like WhatsApp and Snapchat over traditional channels, insurers must adapt to meet customers where they are. This extends to exploring trends like embedded insurance, where products are seamlessly integrated into everyday platforms. Watch more great conversations like this one on our website .…

Fintech Finance Podcasts: The FF Salon

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Tailoring Automotive Insurance to Consumer Driving Habits | Mile Auto | FF Virtual Arena #343 5:11

cách đây 15 weeks trước5:11

5:11

Tailoring automotive insurance to consumer driving habits. In the latest FF Virtual Arena, we spoke to Fred Blumer, CEO of Mile Auto , an exciting Insurtech startup that leverages mileage data to offer fairer pay-per-mile auto insurance for drivers. It’s built as a response to consumer trends such as the rise in remote work and it aims to make insurance more tailored to the individual. We also cover how this technology has potential environmental benefits on top of potential lower premiums. Watch the video to find out more and catch more conversations with founders on our website . Fred Blumer’s Journey: From Telematics to Insurance Disruption The discussion began with an insight into Fred Blumer’s career so far. He’s CEO and co-founder of Mile Auto and Porsche Auto Insurance and has over two decades of experience in the connected vehicle industry. Early on he co-founded Hughes Telematics, designing systems for major automotive manufacturers like Mercedes-Benz and Nissan. A turning point came when he realised the significance of mileage data in determining insurance risk. While vehicle data streams offered insights into driving behaviours, Blumer identified a privacy concern: consumers might not want insurers to have access to sensitive data like location or driving habits. This epiphany led to the creation of Mile Auto, which just looks at mileage data. The Appeal of Pay-Per-Mile Insurance Low-mileage drivers often lose out when getting insurance from traditional insurers, due to subsidising high-mileage, higher-risk drivers. Mile Auto flips this model, offering a fairer pricing structure for those who drive less, such as remote workers, empty nesters, and families with extra vehicles. By focusing only on mileage and traditional underwriting data, Mile Auto ensures a transparent and privacy-conscious approach. Customers simply submit odometer photos monthly, avoiding invasive GPS or behavioural tracking. The low-mileage segment is substantial: 60% of U.S. vehicles travel fewer than 10,000 miles annually, representing a $200 billion market opportunity. During the pandemic, when remote work became the norm, Mile Auto saw significant growth as consumers re-evaluated the cost of insuring cars that sat idle. Balancing Data and Privacy Blumer emphasised that while insurers have traditionally been enamoured with vast amounts of vehicle data—speed, acceleration, location, and more—this approach often overlooks consumer privacy concerns. He shared anecdotes from his earlier career, where sensitive data was subpoenaed for non-insurance purposes, underscoring the risks of over-collection. Mile Auto’s approach prioritises minimal data collection, using computer vision and machine learning to ensure accuracy without compromising privacy. Interestingly, most Mile Auto customers prefer submitting odometer photos over sharing data directly from connected vehicles, citing mistrust in automakers’ data-sharing practices. This reinforces the importance of transparency in building consumer trust. Partnership with Porsche Another exciting topic in the conversation was around Mile Auto’s collaboration with Porsche Financial Services highlights its ability to customise offerings for niche markets. Porsche Auto Insurance, launched in 2019, caters to Porsche drivers’ unique needs, including agreed value coverage (critical for cars that appreciate over time), access to OEM parts, and certified repair shops. This bespoke product aligns with Porsche’s brand values and its customers’ passion for their vehicles, resulting in high satisfaction and retention rates. Blumer noted that this partnership stems from a shared philosophy: respecting customer privacy while delivering tailored solutions. Unlike insurers that track driving behaviour, Mile Auto’s model resonates with Porsche customers, who value performance without invasive monitoring. Technology, Trust, and the Future Blumer’s reflections on technology underscored its dual role as both a driver of innovation and a potential threat to consumer trust. By prioritising privacy and transparency, Mile Auto is charting a course that respects customers’ values while delivering measurable benefits. Mile Auto and its partnership with Porsche are prime examples of how data-driven insights, when used judiciously, can disrupt traditional industries for the better—offering a fairer, more customer-focused alternative to conventional auto insurance. Watch more episodes of FF Virtual Arena right here .…

Fintech Finance Podcasts: The FF Salon

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Financing Global Trade in a Digital Age | HSBC | FF Virtual Arena #332 13:53

cách đây 23 weeks trước13:53

13:53

A third of global trade now comprises digital platforms and services. But this shift means financial institutions face new pressure to change the way they do things. Vivek Ramachandran, leads Global Trade Solutions for HSBC , an institution with a long and rich trade history. For the latest FF Virtual Arena, we caught up with him to get his perspective on what’s changing and, in advance of a Beijing hosted Sibos , what China and more broadly Southeast Asia’s role is in trade finance. Watch the conversation to find out more. A shifting landscape In this insightful interview, Ramachandran gives us a solid overview of the current and future trends that are transforming the world of trade. HSBC have been in the business for more than 155 years and they continue to play a crucial role in the global trade finance ecosystem. Our Virtual Arenas are all about speaking to the experts and as Head of Global Trade Solutions, Ramachandran knows a thing or two about this space. Of the insights we’re given, none is more interesting than how much trade in services has grown compared to traditional goods trade. Historically, trade was predominantly about shipping physical goods, but according to Ramachandran now services such as cloud solutions and digital platforms constitute nearly 30% of global trade. And according to the WTO, digitally delivered services now equate to 54% of all services exports in general. It makes a big difference. For banks like HSBC it means adapting to new business models and getting tooled up to support companies operating in this new age. Global supply chains are being fundamentally reshaped due to factors such as geopolitical pressures, cost considerations, sustainability goals, and the need for resilience. As a result, Ramachandran points out that they’re becoming more complex – some are getting shorter and others are expanding. As businesses shift their supply chain strategies, the need to manage risks, and consider sustainability and the impact of trade on the environment, has become paramount. Like many, he believes that being sustainable is no longer a “nice to have” but a “must have” and companies are now expected to address environmental and social concerns not just within their own operations, but throughout their supply chains. For Ramachandran, sustainability now includes transparency on issues like emissions, forced labor, and supply chain safety. Financial institutions like HSBC want to help their clients solve these issues but also be seen as experts in the matter. New business models We also find out about new business models in trade, especially in the realm of digital commerce. Given more and more B2B trade is now taking place digitally (as well as concerning digital services), there are increased challenges in understanding and managing new types of counterparties. Data also plays a role. Ramachandran discusses the anonymity of digital transactions and the new data these transactions generate, which require new digital decision-making tools and customer onboarding processes. He also provides a balanced view of the impact that cutting edge technologies could have. While early discussions about distributed ledger technologies and blockchain were promising, the path forward appears to be more government-driven initiatives like the UK Electronic Trade Documentation Act and the adoption of electronic records transfer laws by countries like France, Germany, and Singapore. These initiatives are paving the way for the future of trade digitization, but like many speakers we talk to, Ramachandran emphasizes that technology must be seen as an enabler, not an end in itself. Sibos and South East Asia Of course, given the growth happening in the Asia-Pacific region, and particularly Southeast Asia, we wanted to know about developments in trade finance here. It’s a region at the heart of many of the global trends in trade, such as the restructuring of supply chains and the booming e-commerce sector. He highlights how countries like Vietnam, Malaysia, and Indonesia are becoming major hubs for new manufacturing supply chains, while Singapore leads in trade digitization. He praises Singapore for its innovative initiatives, including its National Trade Portal and its adoption of UN laws governing electronic trade. We also hear about the annual Sibos event which this year is being hosted in Beijing, for the first time. The location potentially causes some difficulty to other attendees but Ramachandran expresses excitement about the opportunity this presents, particularly given China’s thriving digital economy and innovation in areas like deep-tier financing . He also notes that China remains the world’s largest exporter and is increasingly investing in overseas markets, offering numerous opportunities for both Chinese and global businesses. HSBC themselves have made strategic partnerships in China, to support e-commerce exporters with financing based on transaction data. There are further points discussed so be sure to check out the whole interview and discover more great conversations just like this one on our website .…

Fintech Finance Podcasts: The FF Salon

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These Areas of Fintech Are Still Getting Plenty of Investment | FF Virtual Arena #331 29:59

cách đây 24 weeks trước29:59

29:59

These areas of fintech are still getting plenty of investment. In a funding environment that has its ups and downs, there is definitely good news for startups seeking funding. We had the pleasure of speaking to Andre De Haes, founder of Backed VC, to find out what being “a maverick fund” looks like in practice and what they look for in successful fintech founders and startups. We talk about how the European funding environment has changed in recent years and much more. A Maverick Fund Backed VC are “determined to do European venture capital differently”. Certainly their brand sticks out as slightly more rock and roll than some of their venture capital compatriots. According to De Haes, doing things differently involves bold bets in under-invested sectors, long-term thinking, and a distinctive culture of founder engagement. He gives examples of their early bets on blockchain gaming, an area that seemed unconventional at the time but has since produced massive valuations , particularly with investments like Axie Infinity and Immutable X. Backed’s approach is also reflected in how they interact with founders, a relationship that often includes excursions and activities, all in service of forging long-term partnerships that go beyond the traditional fund-founder dynamic. They focus on a few specific verticals, one of which is fintech and De Haes explains that Backed’s sector choices were born out of strategic thinking. They honed in on four key multi-trillion dollar industries ripe for disruption: computational biology, manufacturing software, Fintech infrastructure, and AI-driven drug development. They’re certainly exciting on the face of it and not only do they hold tremendous potential for tech innovation but also provide Europe with a strategic advantage over the U.S. In the interview above, De Haes points out how few VCs are tackling these challenging industries and emphasizes how Backed is leading the charge in areas like AI-driven drug discovery, a field relatively untouched by VCs. The funding landscape today The conversation also covers the evolving funding landscape, particularly the sharp valuation drops in later-stage funding rounds. There’s definitely been a number of changes in the ecosystem recently, with more funding even coming from Private Equity . Here, De Haes provides an insightful and thorough breakdown of the post-2022 revaluation environment, explaining that while seed stage funding has only seen minor corrections, later rounds have experienced significant declines in valuation. Interestingly, he notes that these downturns provide opportunities for investors willing to cherry-pick undervalued but strong companies. In one of the more forward-looking segments, they discuss the future of blockchain and decentralized finance (DeFi). De Haes shares his belief that the mainstream adoption of blockchain will happen largely “invisibly” through back-end applications that consumers may not even realize are leveraging blockchain technology. He envisions broader institutional adoption and even the possibility of government-backed blockchain systems in the future. There’s also some valuable insights into what Backed looks for in founders. We’ve asked a number of other people in the industry what they look for and it’s interesting to see how their advice compares. De Haes emphasizes the importance of “founder-product fit,” grit, execution speed, and commercial acumen. He shares fascinating examples of founders like Quinn, who is revolutionizing liver therapeutics with AI, and the seasoned team behind Travisory, who are disrupting border management systems. For De Haes, it’s not just about finding brilliant founders but those with a unique “right to win” in their specific domain. Watch the video to find out more about the London Fintech Network, and get even more detail on the above topics. It’s a really interesting insight into the world of venture capital. Watch more conversations just like this, on our website .…

Fintech Finance Podcasts: The FF Salon

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Clarity is Key for AI to Positively Impact Banking | FF Virtual Arena #330 15:30

cách đây 24 weeks trước15:30

15:30

For AI to have a positive impact on banking, clarity is key. On the latest FF News Virtual Arena, Allan Kissmeyer from SEB Bank explores the increasing role of evolving technologies in banking from his vantage point in the Nordic region. SEB’s unique focus on large corporates in the Nordics means he can also weigh in on the importance of standardization, particularly through ISO 20022, as a foundation for leveraging the likes of AI, and offers a couple of timely concerns too. Read on to find out more about what we discussed. The conversation around AI Allan Kissmeyer is the head of cash management at SEB Bank and knows a thing or two about how money is moving around Europe. Speaking to Tim Goodfellow, he’s able to offer some insights from a Nordic banking context but also explores the rise of central bank digital currencies (CBDCs) in Europe. SEB has a unique position in the market, supporting large corporates and financial institutions, a legacy that distinguishes it from other Nordic banks, particularly in the retail space. Unsurprisingly, a major part of the conversation focuses on AI’s potential in banking. It’s something we’ve covered in many other conversations including this one exploring use cases in banking today. While AI is often hailed as transformative, Kissmeyer emphasizes that banks should proceed cautiously, particularly in the absence of clear regulatory frameworks. There’s no question however that AI offers significant opportunities, especially in enhancing internal processes like payment systems. He highlights how cash management, which relies heavily on standardization and straight-through processing (STP), could benefit from AI by reducing inefficiencies caused by deviations in payment flows. However, Kissmeyer stresses the importance of building a solid foundation, such as the ISO 20022 standardization, before fully leveraging AI and other advanced technologies like blockchain. While ISO might seem like a behind-the-scenes development, its implementation represents a multi-billion-dollar investment critical to ensuring global financial stability. Embedded finance is about driving financial inclusion The conversation also covered another hot topic, embedded finance. In his view, this is not only about improving operational efficiency but also about driving financial inclusion, a central responsibility of banks. However, regulatory pressures rear their head again and Kissmeyer raises concerns about the conflicts banks face, particularly the challenge of balancing anti-money laundering (AML) requirements with open banking regulations like PSD2 and the forthcoming PSD3. He underscores the need for clarity and uniformity in regulations to avoid contradictory mandates that could impede progress in areas like financial inclusion. Finally, the discussion moves to central bank digital currencies, specifically the digital euro, and their potential impact on financial systems. The prospect of a Digital Euro rollout is gathering steam and Kissmeyer expresses cautious optimism, noting that while CBDCs could enhance financial inclusion, their broader implications remain uncertain. The other thing is that in the Nordic region, the digital euro may have limited impact due to the existing currency ecosystem, but that’s not to say they couldn’t have digital currencies of their own. It’s a great all round look at the state of technology in banking, and there are many more conversations just like this one on our website.…

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The Let Them Theory: A Life-Changing Tool That Millions of People Can't Stop Talking About

The Let Them Theory: A Life-Changing Tool That Millions of People Can't Stop Talking About

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The Let Them Theory: A Life-Changing Tool That Millions of People Can't Stop Talking About

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