Assignment - Introduction to Fintech

Fintech 101
#61

Pay - LatCard
Invest - Invesdor
Borrow - Solut
Save - Northmill
Lend - Mogo
Insure - BIMA

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#62

Examples of 6 Pillars of Finance in the Philippines

  1. Pay. Coins.PH. My Phone is My Wallet. Send money, buy load, pay bills, and do more from your phone. No bank account or credit card needed.

  2. Invest. Cropital helps farmers access low-cost sustainable financing. Through its online platform, investors are asked to choose a farm or farms (screened by Cropital) to invest in. Cropital manages the fund for the farmer making sure it goes to the right resources, assuring as well that investors will get a return on investment.

  3. Borrowing. MoneyMatch is another online P2P lending platform, designed to benefit both lenders and borrowers while eliminating physical boundaries in helping them achieve their financial goals. MoneyMatch, which was developed by FinTech Global Inc., serves as a marketplace that allows both parties to maximize their financial potential.

  4. Saving. Komo offers a savings account with 3% interest per annum, a Visa debit card, secure bills payment, and free funds transfer services, which are all accessible through the mobile app.

  5. Lending. SeekCap is a new online lending platform that aims to drastically shorten turnaround time relative to traditional loan applications. The company’s platform and technology can approve a loan the very same say as application and disbursement is done within three.

  6. Insuring. Moneymax started by offering car insurance and has branched out to banking products like credit cards and loans. In 2020, the company launched Gadget Protect, the country’s first digital mobile protection product.

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#63

Pay:

Utrust & Unstoppable Domains - I have not used Utrust, but I know about it from Ivan. Utrust is used to accept crypto payments. Unstoppable Domains is a more personalized way of doing the same thing - you can link all of your crypto wallets to unstoppable domains in order to consolidate under an easy to remember wallet address that is customizable by you. Ex: my unstoppable domain is vote3rdparty.crypto you can send BTC ETH DOT KSM and DAI all straight to vote3rdparty.crypto.

Investments:

There are many sites to directly invest in projects both defi and cefi related. Personally, I have used uniswap, honeyswap, unifyre, coinbase, kraken, uphold, binance.us, 1inch, arthcoin.com, etc etc etc to invest and stake funds in an effort to increase my overall wealth, to a majority success.

Borrow:

I know of many sites/protocols that can be used to borrow funds based upon provided crypto collateral such as BlockFi, AAVE and dYdX. I have played around with AAVE flashloans a bit in order to take advantage of arbitrage opportunities but other than that I am of the opinion that debt is worse than death so I’d rather not.

Saving:

I am a huge proponent of the concept of APY/APR. I have ETH in the interest account @ BlockFi currently. I am ever vigilant for opportunities in earning interest. The EASIEST form of income is passive income. I LOVE staking my assets. If I have no plans on selling them, and in holding them it is obvious that I believe their value will increase, so considering these two things, staking/bonding assets in order to accrue interest/yield in a no brainer in my opinion. LOTS of DeFi options to consider w/ very high % returns.

Lending:

The only lending that I have done is via the dYdX protocol as the funds that you allocate to the smart contract are automatically placed within an account which is lent out to borrowers at a floating % rate and BlockFi as they implement the same basic concept.

Insurance:

Personally, I feel as though cryptocurrency based insurance is for suckers and whales. For what I do, investing, spot trading, margin trading, and staking…I don’t need it.

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#64

My region: Latam

1.Pay: Pic Pay (Brazil)
Works as an online wallet to make payment to affiliate shops and contacts on your phone, be it in one payment or installments.
2. Investments: Mercado Pago (Argentina)
Payment and investment platform.
3. Borrowing: Mutual (Brazil)
A network/marketplace for people that wants borrow and lend money between each other
4. Saving Nubank (Brazil)
Online bank that allows you to save money on a competitive rate
5. Lending Prestadero (Mexico)
Market place for lending/borrowing
6. Insurance Youse (Brazil)
Car, Residential and life insurance app

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#65

1 pay ---- PayPal Big daddy in the space just now entering the crypto sphere.
2 investments—Webull Mobil First Trading of stocks, ETF’s, Options, Commission free and Crypto.
3 Borrowing—FundBox service uses big data analytics, engineering, and predictive modeling to help optimize cash flow for small businesses and freelancers with outstanding invoices.
4 Saving---- Aspiration Aspiration is an online financial institution catering to socially conscious customers who want their deposits and investments to improve the world.
5 lending-----Affirm Finances purchases of retail customers with instant loans at interest rates of 0% to 30%. Affirm connects directly to online stores.
6 insurance—Layer Make 1 consolidated monthly payment with a credit card. Earn perks or cash-back. AI matches you with the policies you need.

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#66

Hello, It is good to be here:

I got this ones: Fintech in Switzerland

1 Pay: TWINT smartphone app to pay all around Switzerland linked to any bank in Switzerland, send money to your friends using their phone number. Cool app I use it a lot

2 lending: moneyland.ch Quickly and easily find the right personal loan and begin the process of requesting a free quote.

3 investing: swissquote.com online banking acting as a broker. In this platform it is allow to trade Stocks, Forex, Crypto-assets, etc

4 Saving: www.seba.swiss Great solution to store your crypto and save fiat as well

5 lending: www.hypotheke.ch technology-based platform that digitizes supply and demand in the mortgage market.

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#67

In Spain for the different categories:

  1. Pay: Revolut, easy fintech bank account with debit card to spend in all shops.
  2. Invest: Etoro online investment app where you can buy stocks, trade different assets, currencies, crypto…all since very small amounts.
  3. Borrow: Creditea allows small borrow amounts for individuals and bigger amount borrowing for small business.
  4. Save: Blockfi deposit crypto and earn interest
  5. Lend: Lendix this company use your funds to allow crowdfunding for business, it pays an interest on your money for the term it is lend.
  6. Insurance: Rastreator is a search for different insurer providers to find the best alternative for what you look for. Another insurance Fintech is Puntoseguro.com is a life insurance provider. In this field there are lot of options depending on what type of insurance you look for cars, life, house…
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#68

Canadian fintechs

Investing:
Coinsquare (digital currency trading platform and exchange).
Wealthsimple (traditional investment savings and trading products with personalized advice).

Insurance:
Finaeo (connects insurance carriers, brokers and clients and helps advisors perform and manage their tasks and improve policy conversion/sales).
ProNavigator (provides AI-powered virtual assistant that helps drive sales, productivity, quotes and filing claims).

Lending:
FinanceIt (POS financing platform that helps small businesses navigate their cash flow challenges by accessing the working capital in their unpaid invoice.).
Thinking Capital (tailors ideas to grow businesses and get quick access to capital).

Borrowing:
Borrowell (AI-powered credit tools and product recommendations including loans, mortgages, credit cards, credit score monitoring and improvement suggestions.)

Payments:
Interac (payment exchange that operates products and solutions like debit/credit cards, email money transfers, online purchases, etc).
Carta Worldwide (provides issuer processing solutions, mobile enablement solutions and token processing applications).

Saving:
Koho (provides account services to users to help them save money with spending insights and real-time cash back).
Mylo (saving and investing app that rounds up purchases and invests spare change)

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#69

Investing: Cacheflo (provides insurers a modern digital platform for the distribution of life insurance products that increases sales and speed of policy delivery while reducing operational costs)

Saving: Groupon (offers discounted deals on services, restaurants, travel, and products)

Pay: Nanopay (offers payment and liquidity management products for businesses and banks.)

Insurance: Breathe Life (provides digital platform for the distribution of life insurance products that increases sales and speed of policy delivery while reducing operational costs)

Lending: goPeer (connects creditworthy Canadians looking for a loan with everyday Canadians looking to invest.)
Borrowing: Borrowell (provides lower rates, convenient service, and transparency in with no hidden fees. By compiling thousands of personal and financial data points into algorithms that assess lending risk.

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#70

UK based fintechs:
Payments
Trust Payments: provides merchants with a global unified payments system, supporting business with new cashless payment options, including mobile, in-app and contactless payment options.

Saving
Monzo: Monzo provides ‘Savings Pots’ that act as savings accounts, with users able to earn up to 1.4% AER on fixed savings. The savings pots also offer features such as roundups—which rounds up change to the nearest pound and adds this to the pot—and automated savings.

Investing
Freetrade: App based investment platform with no trading fees.

Borrowing
OakNorth Bank: provides fast, flexible and accessible debt finance solutions to fast-growth businesses, as well as a range of deposit accounts.

Lending
Zopa: peer-to-peer lending

Insurance
Habito: a mortgage broker and a lender, enabling consumers to compare, apply for, and track the progress of their mortgages centrally via the Habito website. Habito also has its own range of products, from mortgages to life insurance.

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#71

1. Pay - Square, PayPal, Stripe, WePay, Amazon Payments, authorize.net . These are some of the top technologies commonly used in North America. Amazon is a leader in responsiveness, available across devices, and mobile capability critical in todays world. PayPal has e-commerce veteran status and is one of the most widely accepted digital payment methods for North American retailers. Square allows e-commerce transactions on one’s phone. It’s notable that PayPal and Square also accept cryptocurrencies.

2. Invest - BlackRock, Capital Group, Charles Schwab, Fidelity Investments, Goldman Sachs, Vanguard, Prudential and JP Morgan are considered top investment vehicles. We know from recent news reporting that Most of these are getting into to crypto in some fashion and even extending crypto portfolios to customers. Fintech is also making these services available through online platforms, expediting account services experiences.

3. Borrow - Prosper, Network Capital Funding, Upstart, SoFi, Fundera, Unisource, Kabbage, Fiserv, LendUp, and Oportun. Fintech innovation has enabled those with bad credit to build credit with other evaluating factors, sped up the mortgage process, and has made the loan process less painful, easier to pay off, and overall a less stressful experience as compared to traditional banking systems. These processes are also digitally focused and therefore faster.

4. Save - Savetech is an example of Fintech changing the traditional savings accounts. this is a start up technology that is launching FDIC-insured saving with a variable interest rate verses a fixed one with the deposited minimum funds being invested in a portfolio of ETF’s which include stocks, bonds, real estate and commodities.

5. Lend - Avant is a Fintech online only lending company, providing a wide range of loans depending on one’s credit score. A soft credit check is made on applicants, in order not to affect their credit score. Other Fintech lenders include Lending Club, SoFi (Also listed on the borrowing side), Best Egg and Kasasa. Each have their own particular characteristics such as who they will lend to and length of the loans.

6. Insure - Deloitte Global - a traditional insurer highlights the rise of fintech and it’s impact on the insurance industry. here are four possible scenarios they see for the near future.

  • “ Changing the channel: Partnerships with product makers and distributors, and embedding insurance into other products and services may enable customers to select products that best fit their lifestyle

  • Underwriting by machine: Technology advancements including AI innovations and algorithms will likely individualize risk selection and pricing, and customers can select products based on a wider range of price points.

  • Rise of the flexible product: Time-flexible, event-driven, modular and adjustable coverage may evolve to accommodate life stage, lifestyle, and wellness changes among consumers.

  • E-Z life insurance: Given the growth and shopping patterns in emerging markets, insurers who introduce flexible term products, and master digital distribution without compromising underwriting are likely to win in the marketplace.”

Interesting assignment and i learned a lot!

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#72

Thank you for that! :pray:

I discovered some new fintechs due to it. :smile:

#73

Pay:
SubSplash https://www.subsplash.com/ - The Subsplash Platform is the complete solution for connecting with your community on Sunday and beyond. There’s no better way for your church or ministry to engage your audience, grow your giving, and host and share your gospel-centered content.

Remitly https://www.remitly.com/us/en - We make international money transfers easier than ever. Choose how and when you send, with great exchange rates and low fees.

NvoicePay https://www.nvoicepay.com/ - Nvoicepay is a financial technology company specializing in intelligent payment automation. Our software automates payments for accounts payable teams, transforming a traditionally expensive and disjointed process into an efficient, unified workflow.

Saving:
Secure https://securesave.co/ - Emergency savings are the foundation of financial wellness. Help your employees get started. Make an immediate impact on your team for a fraction of the cost of other workplace savings programs.

Insurance:
Dinghy https://getdinghy.com/ - Professional indemnity, public liability, and business equipment insurance for freelancers. Freelance insurance you can turn on or off, up or down. No fees. No admin charges. No contract and charged by the second. Buy now, pay at the end of the month. The future of freelance insurance is Dinghy.

Investing:
Concreit https://concreit.com/ - Real estate investing. Automated. Way to invest in hard money loans and multi-family property. Very cool. This type of investment typically requires certain income and net worth of investors.

Bumped https://bumped.com/ - Bumped is here to create access to ownership. Our app gives consumers the power to turn their everyday spending into free stock ownership, and we have a suite of tools to help businesses reward their customers in fractional shares of stock. We all create the economy together, now we all have the opportunity to benefit from it.

Noonum https://noonum.ai/ - Noonum empowers investors to accelerate their research process and unlock hidden information which helps them make more informed business decisions. By leveraging big data, artificial intelligence, and natural language processing (NLP) all on one platform, Noonum can anticipate and interpret the trends driving markets and how they impact an investment.

Lending:
Tesorio https://www.tesorio.com/ - More than just collections management and accounts receivable automation, Tesorio is the world’s first and only cash flow performance platform. Tesorio empowers CFOs and finance teams to boost profits by using artificial intelligence to better manage, predict, and collect cash.

Attunely https://www.attunely.com/ - We offer a proven, compliant, and trustworthy machine learning platform that makes the recovery of receivables easy, seamless, and profitable.

Borrowing:
PossibleFinance https://www.possiblefinance.com/ - Payday loan alternative. Borrow up to $500* even with bad credit. We won’t check your FICO score because you’re more than a number. You can apply, be approved, and receive funds within minutes.

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#74

  1. Pay - Lightspeed - provides POS software and hardware solutions for merchants that provides cloud-based retail and e-commerce platforms, allowing merchants and restaurants to manage inventory, analytics, sales and payments.

  2. Investments - Coinberry/Coinsquare - two cryptocurrency exchange fintechs in Toronto that allow funding of accounts for purchase of multiple cryptocurrencies, which can be held in their exchange wallets or withdrawn to other wallets.

  3. Borrowing - Mogo - provides a range of services including personal loans, Bitcoin buying, selling and trading, mortgage financing, and credit cards.

  4. Saving - Mylo is a savings app that allows Canadians to meet goals by rounding up purchases and investing spare change, using AI to provide personalized recommendations.

  5. Lending - EasyFinancial - offers lending channels that leverage digital technology to help customers.

  6. Insurance - Zensurance - a “full-stack” commercial insurance provider helping businesses find insurance packages using AI and process automation. Eliminates multiple levels of intermediaries to provide insurance at lower rates.

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#75

Fintechs used in my Country:

Payment: Paypal is a well known payment processor for individuals and also businesses to transfer money to each other.

Invest: Robinhood is a well known investment app for individuals to easily access the stock markets to purchase any stocks and more.

Borrow: Upgrade offers a credit card that has no fees, credit lines from 500$ to 25,000$ and is used anywhere that visa is accepted and gives unlimited 1.5% cashback on payments.

Save: onefinance offers 1% apy on savings and you will earn 3% apy on auto saving round ups, no fees or minimums.

Lend: lendingclub offers very low rates for taking out loans and has minimal fees. Lendingclub saves customers over $1,000 with their loans due to how much cheaper the apr is compared to competitors.

Insure: hippo is a home insurance company that makes their service really stand out and made it very easy to buy a policy under 5 minutes. They want to give the best home insurance possible.

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#76

Examples of Fintechs in Colombia
Pay: Nequi, Daviplata
Invest: Wallet
Save: ikenga
Lending: Bemus
Borrowing: Epik
Insure:

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#77

FinTech from Portugal

  1. Pay- Utrust- is a seamless integration that gives e-commerce businesses the power to accept digital currencies - and get all the benefits you can’t with just traditional payment methods.

  2. Invest- Seedrs - where you can invest in new projects

  3. Borrow- Raize- for investing and creating companies

  4. Save- DoutorFinanças - where people can plan their savings

  5. Lend- Itscredit - is a software company specialized in credit solutions.

  6. Insurance- Habit- is a technology provider and insurance distribution platform by bridging non-insurance brands and companies with insurers and re-insurers

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#79
  1. Pay : paystack, flutter wave , paylot . (It’s a start-up growing a lot in nigeria for payments. Instant payments with no commissions.
  2. Investments : cowery wise
  3. Borrowing : ren money , Online procedure is very easy. The company is focused on borrowing.
  4. Saving . piggy bank : Helping to save money from a minimum sum of 5,000 ngn. Optimize the savings even if from small sums.
  5. Lending . carbon pay This is a platform allowing to meet lenders and borrowers. All procedures are automatic and very fast/efficient.
  6. Insurance . risk analyst : This platform helps to optimize the way to make any kind of insurance by comparing the different possibilities offered on the market.
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#80

PAY I use TransferWise ( transferwise.com) which is much better than Revolut to my opinion. Revolut blocks account very often without any reason. When exhaustive procedure is done and the account restriction is lifted they can block the account after a month and ask the same questions. I close the account voluntary when the cheking time exceeds 7 month per year.

INVESTMENT. I use Hargreaves Lansdown. https://www.hl.co.uk It is one of the biggest broker in the UK. A lot of investment products online. There are plenty of articles, online courses as well.

BORROWING. SYMPLYMONEY (symplymoney.com) is very easy to borrow if you have a salary last 1.5 years. Loan is limited by 25% of your salary, no collateral. 60-70% per year. No grace period. Monthly payment.

SAVING. FLAGSTONEIM.COM Access to 250 accounts. The best saving platform in the UK, I guess

Lending. Blendnetwork.com . Property lending platform.

Insurance. La playa https://laplayainsurance.com/uk/ I am afraid this point is difficult to be presented by me. People like the service. Fast and efficient.

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#81

  1. Pay : PayPal is an American company in the financial and technology Industry (E- wallets)

  2. Invest: Pico is an Irish company that see a new era of financial technology for the capital markets emerging. This will be defined by an on-demand and machine intelligent technology paradigm delivered as a service for infrastructure, platform, cloud, data and analytics. In the fast-paced global financial markets, you need to make your move on the markets before the markets move on you. With Pico, we are making a transformational move on the $50 billion financial technology services market.

  3. Borrow: The Initiative Ireland Housing 2020 report shows how Ireland has experienced a 67% shortfall in housing supply over the last decade. This has impacted financially vulnerable households the hardest, with greatest need for more social and affordable family homes. At the same time, Irish Households account for an average of 60% more CO2 emmissions than the EU average.

Because of this, we have dedicated our efforts to supporting the delivery of energy-efficient, social and affordable housing projects nationwide. We work with smaller but experieneced developers, to expedite delivery, promote price competition and enhance job creation. As we believe in reponsible financial inclusion, all loans are secured against the underlying properties with a first legal charge. Only then are the loans

  1. Save : Plum, the smart app for managing money, is today announcing its launch in the Republic of Ireland. The fast-growing Fintech helps customers build wealth over time by learning about their income and spending habits to automate personalised financial decisions for each individual.

  2. Lend: Fenergo With 100% focus on financial services, Fenergo delivers technologies that can transform how financial institutions across the full spectrum of financial services can manage and serve their customers throughout the customer lifecycle. We have dedicated business units focused on delivering transformational technologies for Corporate & Institutional Banking, Commercial, Business & Retail Banking, Asset Management & Asset Servicing, and Private Banking & Wealth Management.

  3. Insuared: InsurTech Ireland is a forum for sharing ideas and knowledge about the ways that technology is changing insurance. We help business and technology professionals in the insurance industry to learn about new technologies and to consider how these technologies can best be utilised.

We host regular events to learn about and discuss relevant tech and industry topics. We also provide introductions and facilitate networking to encourage real engagement between the technology and business communities in the Insurance industry.

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