Assignment - Introduction to Fintech

Fintech 101
#82

Pay - Revolut - Send and request money with a tap. Discover quick and easy money transfers with no hidden fees in 30+ currencies

Borrow - Lending Works - They offer good rates by cutting out the bank and allowing you to borrow money from real people.

Lend - Funding Circle - You lend directly to established small British businesses. They get the funds they need to grow, and you can earn attractive returns as they pay you back each month.

Insure - Zego - Integrates directly with companies like Uber and Deliveroo’s driver apps to track their working hours and only insure them for when they are on the road.

Invest - Nutmeg - Tell us how much you want to put in and what risk level works for you. Our in-house investment team have built a range of portfolios and will invest as per your chosen investment style.

Save - Plum - It connects to your current account and analyses your incomings and outgoings. It analyses transactions and then identifies your regular income, rent, bills and daily spend. Using this and other factors like your available balance it calculates daily what amount it can safely put aside without affecting your daily life and moves it to your Plum account via direct debit every 4-5 days.

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#83

Pay- Adyen is a payment integration for e-commerce.
Invest- Blox is an app for buying/investing in cryptocurrency.
Borrow- mozzeno.com has a shared economy model to lend and borrow the money.
Save-KBC lets you to automatically save by DCA.
Lend-Tinka allows to lend money using their app.
Insurance- crashform is an app that allows you to automatically report the accident.

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#84

1.Paypal - online payment systems.
2.Slice - pay-per-use insurance for the on-demand economy.
3. Trading 212 - Investing/trading
4. Plum - ai assistant that boosts your bank balance. It analyses users’ income and automatically sets small safe amounts of money aside that can be accessed at any time or invested. It helps you switch your bills for more savings.
5.Oak North - UK bank for small and medium-sized companies that provides business and property loans. The Bank has approved over ÂŁ600 million in new loans to support British businesses since the lockdown began on 23 March.

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#85

SPOT- Targets active and adventurous lifestyles (rock climbing). Purchase short-term, month-to-month insurance policies at an approachable price through a simple platform.

VOYAGER- Investvoyager.com. Build your own wealth. Earn 9.5% on stable coins and 6.5% on your BTC. No lockup’s or limits.

HOMETAP- Access your home equity with out selling your home. Home owners have a smart new loan alternative.

AMARTHA- Peer-to-peer lending financial tech. Micro loans made easy through entrepreneurs through funding with high return and high social impact.

STRIPE- Payments infrastructure for the internet. Use Stripe’s software and APIs to accept payments, send payouts, and manage businesses.

STASHAWAY- Earn percent rates on your cash now or move money into investments over time, all in one place. Retire when you want to and how you want to.

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#86

UK Fintechs - 6 Pillars Examples

  1. Pay : Monzo - Allows clients to pay in local currency and foreign currencies whilst travelling.
  2. Investments : Revolut - Allows clients to invest via their app amongst several other examples of the 6 pillars.
  3. Borrowing : Zopa - Offers borrowing to its clients on a peer to peer model
  4. Saving : Plum - Mobile app helps users save and grow their money with AI
  5. Lending : Aave - Crypto based lending & borrowing against assets
  6. Insurance : Zego - Provides simple, flexible policies via app, web and phone, covering all kinds of enterprise at any size.
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#87

PAY- MONZO an all in one banking app where you can spend, save, manage, borrow, similar to Revolut, now expanding to other regions worldwide.

INVEST- NUTMEG is a digital investment and wealth management firm. Investment management and financial advice experts help investors to build global portfolios through Nutmeg’s online investment platform.

BORROW- iWOCA provides small businesses in the UK with short-term loans.

SAVE- MONEYBOX is a mobile app-based fintech that allows users to access shares and saving accounts. Available accounts include investment ISAs, Lifetime ISAs, Personal Pension accounts, and more.

LEND- MOLO FINANCE -is a mortgage lender that operates entirely online—the first of this kind in the UK.

INSURE- DINGHY is an online, mobile-first insurance provider that uses cutting-edge technology to provide flexible business insurance for the self-employed and freelancers. Customers can turn their insurance on and off as they need it and only pay for the insurance that they have used.

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#88
  1. Pay: Paypal, Square, Cashapp, Zelle–Some of these services allow for peer-to-peer payments, or payments for purchases of goods and services rendered in digital and/or physical spaces.
    2.Save: Qapital is a platform that allows its users to save money through a gamification of their spending behavior. Basically, it rounds up your transactions (based on rules which you–the user–are allowed to configure), and stores the remainder in a saving’s account.
    3.Borrow: affirm. allows customer to borrow up to a certain amount of money and repay that money back in installments and within a timeframe–both of which are agreed upon by both parties beforehand. affirm. effectively allows the customer to finance retail purchases with instant loans at variant rates.
    4.Invest: BlockFi allows users to earn up to 8.6% APY on select cryptocurrencies (BTC,ETH,LTC,LINK) with no minimum entry. BlockFi also allows its users to lend and borrow cash through their platform. Basically, you can borrow up to a certain percentage of your digital assets without having to sell that asset.
    5.Lend: BlockFi also allows you to lend your cryptocurrency and USD, But SoFi provides home loans, student loans, and personal loans services.
    6.Insurance: Ethos (ethoslife) is a life insurance fintech that allows for a fast and straightforward application, automated and simplified underwriting, expert advice, flexible and affordable payment options, and a cancel anytime policy. This company is dynamic, fast, and efficient with a customer satisfaction focus.
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#89

These are from/operating in Australia:

1. Pay:

AfterPay https://www.afterpay.com/en-AU/index - Buy now, pay later service, that splits purchases into 4 interest free instalments. Fee’s only charged by the fintech for a late payment. Allows scheduling of repayments and sends regular reminders for the same.

2. Save:

Volt https://www.voltbank.com.au/ - The Volt Savings Account offers a competitive variable interest rate on your savings with no monthly deposit conditions to meet and no withdrawal restrictions. Sadly, only 1%.

3. Borrow:

Athena Home Loans https://www.athena.com.au - is an online-only low-interest mortgage service provider. Their aim is to provide customers personalized customer service and competitive interest rates on loans to help them save time and money. They also offer lower interest rates to applicants that are ready to pay a higher down payment. They don’t charge applicants any fee for the service it provides.

4. Lend:

Plenti - P2P loans that you can invest in to lend your money out for the benefit of others.

5. Invest:

CoinJar - Basic exchange that allows users to buy and sell crypto and to make and accept payments from external accounts and other CoinJar users.

6. Insurance:

Huddle - Insurance that’s simple and easy-to-understand, backed by clever tech that makes it more powerful too, including using AI to assist customer interactions…mmm, AI, why you so scary and helpful at the same time?

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#90

Pay : Touch N Go - for making payments via mobile wallet
Save: Hellogoid - mobile platform to buy gold for savings
borrow : Funding Societies : crowd funding
Lending : LendLend - lending platform
Invest : Wahed Invest - investing opportunity
Insurance : GoInsurance - insurance cover

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#91 
1. Pay - FinTech firm POSaBIT is hoping to solve the problem of mobile payments for the fast-growing cannabis industry
2. Investment  - Vast Bank in Oklahoma is one of the first to allow customers to purchase digital currencies, a market that has proved lucrative for fintechs
3. Borrowing -
4. Saving - 
5. Lend - Bank of Oklahoma has adopted Blend’s digital lending platform, the fintech announced at the 2019 Auto Finance Summit. 
6. Insurance – Zero Health The company works with employers and providers to build an entirely new ecosystem of healthcare delivery and everybody wins.
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#92

-Credijusto is an online lending platform for credit.
-Clip is a Digital Payment solution delivering POS solutions to businesses for accepting digital payments
-Crabi insurance provides auto insurance. Fully digitalized auto insurance.
-Bitso is a cryptocurrency exchange in where people can buy and trade crypto.
-Vexi is a credit card company allowing you to “borrow” money or have a credit line.
-Zaveapp helps users to have a saving discipline. Helps manage money to help deal with unexpected expenses.

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#93

As i am living in germany here is my fintech list.

Pay: klarna is a payment system similar to paypal that is already well established in germany

Save: Dreams is a swedish german startup that launched an app that should help the users save more of their money by making rational money decisions without having a full finance background. it also helps implementing skills and daily hacks used by experienced money savers.

Lend: Uplift1 is a company that lends up to 500.000eur to startups.

Invest: Cooler Future is a german finish start up that has climate change in mind and lets you invest into comanies that are helping to fight climate change and working ecological.

Borrow: Prolendo wants to make it easier for consumers to get loans and borrow money. especially for people in rural areas with smaller banks.

Insure: Optisure is an insurance fintech that allows freelancer and small companies to get insured within their field fairly easy and fast.

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#94
  • Pay: PayPal: of course very well known, peer to peer payments or payments at dealerships who also use PayPal
  • Save: Zinspilot: A platform where you can compare banks and online banks regarding the offered interest on saving accounts
  • Invest: Trade Republic: German version of Robinhood
  • Borrow: Bondora: p2p lending platform
  • Lend: Bondora: p2p lending platform
  • Insure: Optisure: insurance for smaller firms
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#95

  1. Pay: https://wise.com/ - plattform to tranfer money worldwide.

  2. Investments: https://blackmanta.capital/invest/ plattform to invest money worldwide.

  3. Borrowing: https://app.compound.finance/ decentralized plattform for borrowing

  4. Saving: https://app.compound.finance/ decentralized plattform for staking

  5. Lending: https://app.compound.finance/ decentralized plattform for lending

6.Insurance: https://etherisc.com/ Decentralized insurance protocol to collectively build insurance products.

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#96

https://monzo.com/
https://www.oaknorth.com/
https://www.iwoca.co.uk/
https://www.paymentsense.com/
https://www.worldremit.com/
https://molofinance.com/
https://www.habito.com/

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#97

In South Africa these are some of the companies:

  1. PayU - investing in technology entrepreneurs, to offering credit to underserved individuals, to helping merchants buy, sell and operate online. this is a very good example of a company who offers as many of the pillars as possible.

  2. Franc - With the Franc app, anyone can now invest in leading cash and equity funds in just a few minutes. No minimums. No paperwork. No fine print. Just the way investing should be: smart, simple and Franc.

  3. Prospa - Prospa is a mobile enabled savings solution for low income earners which allows them to save small amounts through a voucher-based USSD solution. It combines the powers of group saving, flexibility, and discipline to maximize your savings.

  4. Lulalend - Lulalend is an online lending company that provides fast and easy working capital funding to small businesses in South Africa.

  5. Pineapple Insurance - In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest and cover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to many

Pineapple launched in South Africa in 2018 with their “My Stuff” per-item insurance and have since launched their auto offering “My Ride”. They have also partnered with Travelers in the US and have white-labeled their platform in the US.

  1. JUMO is a South African FinTech company which offers a platform that facilitates digital financial services
    such as credit and savings (Ventureburn.com,2018). As of September 2018 JUMO, had originated over $700
    million in loans on its platform and managed over 25 million customer interactions per month. The majority
    of the users of the platform are micro and small businesses.
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#98
  1. Pay: Monerium, Iban Send money to anyone, at anytime, in seconds. Real time delivery vs. payments with no intermediaries.
    GreiĂ°slumiĂ°lun among the solutions that the company offers and operates are Pei, a comprehensive mobile payments solution, NĂłri, an online registration and payments system for sports clubs, courses, schools and municipalities, and Redo, a subscription system with a variety of payment options.
  2. Investments:Karolina Fund is a project management and crowdfunding platform for creative projects.
  3. Borrowing: Private lenders – how does the boom come about?
  4. Saving: The Meniga Rewards app allows you to shop with the brands you love. Get cashback straight into your bank account or use it to help the planet. It’s up to you. No coupons, no hassle, just great rewards from your favorite brands.
  5. Lending:Invector The company’s first two products, Pricepoint RRE and Pricepoint Cars , are geared towards mortgages and automotive loans. Making available optimal price updates at arbitrarily frequent intervals together with the full portfolio variance-covariance matrix, the Pricepoint systems establish a robust emprical foundation for sophisticated risk-management and pricing in asset-backed lending.
  6. Insurance: Authentech provides an omni-channel identity verification and know-your-customer (KYC) solution that allows end-users to verify their identity through any channel without compromising their privacy.
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#99
  • Pay

Apple pay. I could not find anything specific, so I choose Apple pay, because it is available in my country. You can add your bank card to apple pay and pay with your phone.

  • Invest

Indexo.lv You can invest money by giving your money to them and they will by a small part of stocks in biggest and most popular companies from the whole world. They claim that 10% gain in a year is not real so you should be happy about approximately 5%, but not more than 9,5%. For me - it sounds terrible.

  • Borrow

Credit24 You can borrow up to 3000 eur without any problems (you don’t have to have person who assures that they will pay back your credit in case you are not able to, you can be with “damaged credit history”) Sounds terrible for me. A lot of people fall in this. They start to take credits and cannot stop.

  • Save

Swedbank app. It is popular bank in my country. I could not find any specific apps for savin so I choose this one as it also offers clients to save money in saving account by rounding up the value you just spent. (Stolen idea from Revolut I would say)

  • Lend

It looks that in our country we still do not have an app where we can put our money and lend it to others. We still have to write on paper this fact and approve with both signatures :smiley:

  • Insure

Compensa. You can buy insurance for yourself and get back some money at the end of the year if nothing happened to you.

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#100

  1. Pay: Afone Paiement is a Payment and Electronic Money Institution, which develops and offers merchants a complete package of solutions for the management of electronic money collections.

  2. Investments : Epic Sim small and medium-sized enterprises (SMEs) can present development projects to be financed to a selected audience of professional investors.

  3. Borrowing : Banca Progetto operates in the household and business credit market also through the digital channel.

  4. Saving : Oval Money can create you a completely customizable savings goals, thanks to which you will no longer have to give up any desire.

  5. Lending : October gets your business started up with up to 90% state-guaranteed funding. Discover our initiatives to support businesses

  6. Insurance : no insurance fintech in italy

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#101

Paying

LINE Pay. LINE is the biggest Social Media platform in Japan. Any LINE users can register for LINE Pay. Deposit money from banks and ATMs. Send money to your friends. Pay in convenience stores. Get points by using LINE Pay.

Investment

Rakuten Shouken. Rakuten is one of the biggest online service company in Japan. Rakuten Shouken is easy to use and beginner friendly. There is advanced tool you can use for FX, margin, and futures trading too.

Borrowing

CreditEngine. This is a borrowing (loan) platform for businesses. Users register and apply for loans by submitting an online loan application. Even small loans that traditional banking does not accept are supported.

Saving

Finbee. Automatic saving platform. Traditionally, we forget that we saved, we tend to use saved money, we realize that the balance is low, we cannot save money by ourselves. In this platform, we first make a rule (for example save $10 a day). Then it automatically saves the money. You can also get 0.1% by saving in Finbee that can be converted to Amazon Gift card.

Lending

Maneo. This is a social lending (P2P) platform founded in 2007. Investors on the platform earn interest between 5%~8% per annum.

Insurance

Seimei. There are many insurance companies and there are thousands of plans. This platform is the search engine for insure companies and find the best plan in seconds.

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