Things worth reading: 2nd June 2017
Chris Skinner
JUNE 2, 2017
The race to become Islamic banking’s fintech hub The super-rich are different: they pay less tax. The post Things worth reading: 2nd June 2017 appeared first on Chris Skinner's blog.
2017 Fintech Marketing Taxes 
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Top Banks Keep Ahead Of FinTechs’ Competitive Threat
PYMNTS
SEPTEMBER 18, 2019
The delicate balance between bank-FinTech competition and collaboration continues to teeter in the U.S. In a market without Open Banking regulations, FinTechs continue to enter in to the market, collaborating with bank partners to offer their own financial services — which often compete directly with other financial institutions.
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GPS Capital Markets For Sale, Sources Say
PYMNTS
AUGUST 9, 2019
Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. GPS Capital Markets, founded by Al Manbeian and Ryan Gibbon, posts between $20 million and $30 million earnings before interest, taxes, depreciation and amortization (EBITDA), one source told the publication.
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TurboTax Bid For Credit Karma Triggers Antitrust Worries
PYMNTS
MARCH 2, 2020
The FinTech startup offers free credit scores, credit card applications, loans and savings accounts. As the leader in DIY taxes, TurboTax has been dealing with escalating competition from Credit Karma, which is now a leading financial app among younger customers. Credit Karma started offering a free tax filing service in 2017.
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AltFin Shines As Investor Interest In B2B FinTech Continues
PYMNTS
MARCH 2, 2018
and India drove a surge in FinTech venture capital funding in 2017, and Accenture Financial Services Senior Managing Director Julian Skan pointed to the B2B business model as a significant presence in this trend. Total venture capital across the global FinTech market between 2010 and 2017 hit a combined $97.7
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Where Bank Account Data Alone Falls Short For SMB FinTech
PYMNTS
NOVEMBER 13, 2018
APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. more than 40 percent of small businesses reported to WePay in a 2017 survey that they experienced a cash flow problem during that past year. “It works on something called a complete record. .”
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GonzoBanker Awards 2017
Gonzobanker
DECEMBER 19, 2017
FinTech threats and distractions. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. This year brought us: Mergers out the yin-yang. Payments chaos.
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FinTech Partnerships With FI Marked By Global Scope
PYMNTS
JUNE 15, 2018
In Africa, the biggest private bank in Kenya, CBA, has cemented a partnership with a FinTech there, Ennovative Capital, a Kenyan firm that licenses software to boost payments speeds. The software firm, Sage, has had five of its accounting offerings focused on VAT, accredited by the UAE Federal Tax Authority. firm , PrimeRevenue.
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The India Fintech Market Map: 72 Startups Working Across Lending, Payments, Insurance & Banking
CB Insights
APRIL 13, 2017
Check out even more content at Future of Fintech 2017. Aggressive recent government initiatives in India, including bringing more people into a formal ID system (Aadhaar) and increased funding and tax … Continued. Use code “FoFInsights” to get $1000 off your ticket.
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The Fintech 250: The Top Fintech Startups Of 2018
CB Insights
OCTOBER 21, 2018
CB Insights unveiled the second annual Fintech 250 — a list of 250 of the most promising private companies applying a mix of software and technology to transform the financial services industry. THE FINTECH 250 STORY. CB Insights clients can view the full Fintech 250 story by clicking the button below. Please click to enlarge.
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Intuit Eyes Buying Credit Sesame, NerdWallet And Finicity
PYMNTS
MARCH 9, 2020
Intuit , the tax software company best known as being the enterprise behind QuickBooks and TurboTax , is looking into acquiring FinTech Finicity , according to reports. On Monday (March 9), the market saw Intuit’s shares dip 4.3 It was launched in 2010 and has been profitable since 2017, according to the company.
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Can FinTech Walk The FinTalk?
PYMNTS
APRIL 30, 2018
In this world, the only things certain are death and taxes. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. And in 2017, those investments were off-the-charts nuts.
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Virtual cash management: A catalyst for new business models for European transaction banks
Accenture
APRIL 21, 2017
European banks are in the midst of a ‘perfect storm’ of negative interest rates, regulatory pressures and market disruption, and are in search of new sources of value. The solution of choice for each bank must be qualified based on the specific characteristics of its client segments and local market considerations.
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The Financial Technologies SMEs Aren’t Using
PYMNTS
MARCH 13, 2017
Clearly, there’s still a long way for SMEs to go before they fully embrace FinTech – and the latest research on the topic reinforces the notion that small businesses aren’t using technology the way some may have hoped. 70 percent of SMEs didn’t use tax software in 2016 , found Office Depot in its most recent Small Business Index survey.
Banks Need to Close the Personalization Gap
Gonzobanker
JUNE 16, 2022
According to Jim Marous, CEO of The Digital Banking Report : “Consumers expect financial institutions to understand their needs and deliver personalized solutions similar to what they receive from fintech and Big Tech firms. A new crop of fintech startups—often called challenger banks—is addressing this personalization gap. solutions).
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What borrowers want - Bringing value to the member relationship
Abrigo
SEPTEMBER 6, 2017
In a world filled with digital loan applications, growing fintechs and booming small businesses, credit unions need to continually evaluate their borrower experience. When it comes to borrower experience, 78 percent of community financial institution borrowers reported overall satisfaction as opposed to 46 percent of fintech borrowers.
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Today In Data: Visa, Mastercard And Apple All Release Earnings Results
PYMNTS
FEBRUARY 2, 2018
Today in PYMNTS data, Visa earnings topped expectations, Mastercard saw positive outcomes and Apple underwhelmed market watchers in their recently released earnings reports. In addition, B2B venture capital (VC) went to FinTech firms and underbanked consumers and small businesses (SMBs) experienced banking hurdles.
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101 Netchex, Delaget Team Up For Restaurant Payroll Data Integration
PYMNTS
MARCH 26, 2019
Delaget’s data management technology will enable restaurant professionals to gain deeper analytics of the data stored within Netchex’s tool, including payroll, time tracking, tax and employee activity. “As a market leader, Netchex was an obvious choice.
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The Middle Market’s Expense Management Conundrum
PYMNTS
JANUARY 22, 2018
Expense management technology is now a saturated market, particularly for the small business space – which is notoriously difficult to serve, because they are too small for large, enterprise-grade solutions, but too large for consumer-specialized tools. “Some observers will define the market as $10 million in the top line to $1 billion.
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Why Africa Is eCommerce’s Next Great Frontier
PYMNTS
JANUARY 14, 2019
Nazir detailed the vast opportunity that lies before FinTech firms such as Emergent that are making headway into providing financial services in Africa: 54 countries, home to 1.3 billion in revenue in 2017, and is forecast to hit $29 billion in 2022, even with a relatively low internet penetration of around 35 percent.
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212 Ant Financial Changes Focus To Technology Services
PYMNTS
JUNE 5, 2018
By comparison, the company’s technology services were approximately 34 percent of revenues in 2017. Though it’s usually investors who set conditions for companies before handing over funds, the restrictions placed by Ant Financial show its significant market power, as well that of its affiliate, Alibaba Group.
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Wirecard Teams With BASF Digital Farming; BPP Unveils Digital Wallet In Brazil
PYMNTS
JANUARY 31, 2019
In addition, Grab plans to start offering solutions and privileges from United Overseas Bank Limited (UOB) in Singapore , Fintech firm BPP has unveiled a digital wallet dubbed BPP Pay for the Brazilian market and passengers from China can now make payments with WeChat Pay at an airport in Italy.
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Goldman Leads $20M Funding For Trucking Platform Kobo360Â
PYMNTS
AUGUST 14, 2019
The company has continued to grow its product offerings and customer base since its 2017 launch in Lagos. FinTechs looking at Africa must grapple with the vagaries of 54 markets, 54 central banks, disparate tax and legal policies, and changing foreign exchange ( FX ) rates.
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108 5 Ways Ant Financial & Tencent’s Fintech Growth Playbooks Are Evolving
CB Insights
NOVEMBER 5, 2019
There are just two China-based fintech businesses valued at over $100B in the world. The second, conceivably, is Tencent’s fintech business. In May 2019, Barclays released a note estimating the value of Tencent’s fintech business at $123B, or close to a third of the company’s total market cap.
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51 To Improve Treasury Tech, Target The Developers
PYMNTS
MARCH 16, 2018
But APIs can offer a different strategic advantage, especially to B2B FinTechs, according to A.J. Because APIs facilitate integration between two services, the technology allows FinTechs to innovate in their niche markets, rather than attempting to be a jack of all trades. “I
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Small Businesses At The Center Of Bots Vs Accountants
PYMNTS
JANUARY 9, 2019
In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers. McKinsey research , released in 2017, pegged the number of jobs worldwide that could be lost to automation by 2030 at 800 million.
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What’s wrong with superannuation and can fintech help?
Jessica Ellerm
MAY 20, 2017
To give you some idea of what these issues are, here are just a few startling superannuation stats for the uninitiated, that are well worth putting your fintech opportunity hat on and considering. And even if you did know, navigating pre and post tax contributions from your salary becomes yet another headache to deal with.
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How Does ChatGPT Describe the Economy and Banking?
Jeff For Banks
FEBRUARY 4, 2023
The labor market has also improved, with unemployment declining and job growth picking up. Additionally, the implementation of new policies by the government, such as changes to taxes and regulations, could also influence economic outlook. The tool is still new and evolving.
Genesis Molds Treasury Management For The Crypto World
PYMNTS
SEPTEMBER 26, 2018
Earlier this year, CoinDesk data revealed more money was raised via ICO in the first quarter of 2018 than in the entirety of 2017, totaling $6.3 ICO market.” “There is a big gap in the market,” says David Siemer, founder and CEO of Wavemaker Partners. billion raised in those first three months.
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Plastiq Talks Commercial Cards, ePayment Trends
PYMNTS
NOVEMBER 26, 2018
Adoption of commercial cards in B2B payments has emerged as one of the hottest industry topics of the year thanks to new FinTech innovations and industry leaders like Visa and Mastercard making a push further into the market. percent from 2017 volume. One is the breadth of expense categories.
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A Fintech Filter for AI in 2017
Fintech Labs Insights
JANUARY 11, 2017
In what The New York Times is calling The Great AI Awakening and Forbes has dubbed The Year of AI , 2017 is shaping up to be obsessively focused on artificial intelligence, a field that has been around for awhile (remember playing checkers against a computer?) Below are eight areas of fintech into which AI has made inroads.
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12 A Global Approach To Local B2B Payments Digitization
PYMNTS
OCTOBER 10, 2017
Digitization of B2B payments is on the rise, but the trend is challenged by discrepancies across geographic markets, according to the latest World Payments Report by Capgemini and BNP Paribas. The 2017 report , released Monday (Oct. Developing markets are driving this growth, too.
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Bitcoin Tracker: Blowing Past Milestones
PYMNTS
MAY 5, 2017
The digital currency’s market cap sat at just over $25.4 At this time last year, BTC traded at $460, meaning the digital currency’s value has grown over 230 percent within the period—with just over half of that growth coming in the first five months of 2017. percent from Wednesday’s close.
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Wealth Management In The Post-Covid World: Tech Is Reshaping How We Save And Invest Money
CB Insights
DECEMBER 15, 2020
As with numerous other industries, the Covid-19 crisis has propelled digitization in the space — with fintechs and financial services incumbents alike. Between 2017 and 2060, it’s expected that approximately $50T will change hands in what will be the largest aggregated transfer of wealth in history. Source: Bloomberg.
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Threats, Risk Coming At Businesses From All Sides
PYMNTS
JANUARY 23, 2017
Dabbling in FinTech innovation, expanding internationally, integrating digital systems — businesses must make progress, but they’re facing unfamiliar threats as they make these moves. That’s according to SAP SuccessFactors and Oxford Economics, which surveyed 4,100 FinServ executives across markets.
Survey 100
100 Tech Center: EU’s Capital City Grows Tech Reputation
PYMNTS
FEBRUARY 10, 2017
The World Bank ranked Belgium as the seventeenth best country in which to do business in 2017, out of 190 regions. Just last month, Belgium and London formed a “FinTech bridge” to help enable a supportive link between startups in both jurisdictions. It was also ranked in first place for trading across borders. environment.
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The Lebron Effect On Payments
PYMNTS
JULY 7, 2018
From concept to its launch in January of 2018, Amazon Go took five years to make it to market with its first location, found on the ground floor of the firm’s new headquarters. According to its internal numbers, Lyft now controls 35 percent of the national ridesharing market, up from 20 percent 18 months ago. Bixby Gets Sporty.
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110 Fed Finds Biz Lending Swell Continues, But There’s A Downside
PYMNTS
AUGUST 7, 2018
Traditional institutions are picking up steam in their efforts to collaborate with alternative financiers and FinTech firms, largely viewed as a way to spin the competition into allies and upgrade their lending services without the burden of in-house R&D. However, the Federal Reserve ‘s latest analysis of the U.S.
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100 Bitcoin Tracker: Bitcoin Black Friday
PYMNTS
NOVEMBER 11, 2016
The election came and went and, with it, brought some stock market shock. International markets opened Wednesday (Nov. International markets opened Wednesday (Nov. But as markets saw their prices fall, bitcoin’s numbers went up. 9) morning on a down note: Stocks in London dropped 4.3 Way up, way fast.
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AltFin’s Bumpy Ride Into An Uncertain 2019
PYMNTS
DECEMBER 28, 2018
There were plenty of tailwinds that pushed the segment forward: A strong economy, healthy consumer interest in credit and advances in credit scoring technology were all instrumental in pushing more consumers into the market, particularly in the first half of the year. percent between the end of 2017 and the middle of 2018.
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2021 GonzoBanker Awards
Gonzobanker
DECEMBER 17, 2021
A few years ago, very few people would have guessed that tens of billions of dollars would be invested in fintech vendors and solutions annually – except it happened. 2021 fintech investments, merger activities, and overall focus were off the charts. Best Fintech Acquisition by a Bank. Fintech Acquiring Bank.
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147 Acquire or Be Acquired 2018: Breaks, Bulls and Business Models
Gonzobanker
FEBRUARY 7, 2018
Nothing seems to put a bounce in a banker’s step more than a tax break and regulatory relief, and this bountiful energy was radiating at Bank Director’s annual “mecca” for bank M&A in Phoenix last week – Acquire or be Acquired. Prosperity is now $22 billion with an unbelievable $5 billion market cap. 3: Business Model.
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The 2018 GonzoBanker Awards
Gonzobanker
DECEMBER 20, 2018
We’ve simultaneously disdained and feared the fintechs, artificial intelligence and blockchain consortia. PNC made a Gonzo move with a national digital expansion in 2018 with the unique idea of building a small number of branches in target metro markets like Kansas City and Dallas. GonzoBankers, 2018 has been a troublesome year.
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