Assignment - Introduction to Fintech

[andywill]

Here is a list of Fintech companies that operate in Jamaica one for each pillar of Banking as follows:

1. Pay: billexpress.com (Bill Express. Offer bill payment services.)
2. Investments: www.barita.com (Barita Investments Ltd. One the leading investments companies in Jamaica )
3. Borrowing: jpscu.com (JPS and Partners Co - operative Credit Union Ltd. The company is focused on borrowing.)
4. Saving. jpccu.com.jm (Jamaica Police Credit Union. Offers excellent saving plans for its customers)
5. Lending. sagicor.com (Sagicor. Offers a number of banking services to its customers)
6. Insurance. gkgonline.com (GK General Insurance Company serves clients directly via it’s offices in Kingston, Mandeville, Montego Bay and Portmore and indirectly through partnership with a network of 24 brokers and agents island-wide.)

[makinitnow]

In my region ,I mostly found data for Mobile banks that offer debit cards, enable to pay or send money, some insurance products, less investment, borrow & save money products.
Standard service is mostly free of charge.

Leanpay (https://www.leanpay.si/):

• offers a quick and easy way to pay in installments without paperwork

Revolut Bank:

• present in Slovenija with 60.000 customers (data from February 2021)
• offers virtual or physical debit cards and a personal transaction account in euros or pounds
• allows the purchase of shares from the US

N26 (Pay, Insure - tourist, sports insurance)

• present in Slovenija, with 40.000 customers (data from February 2020)
• started with debit card few years ago
• payable service: N26 You in N26 Business You (9,90 eur/month), N26 Metal (16,90 eur/month)
• no marketing campaign, obtains customers through recomendations
• more men than women customers, women growing
• mostly used for everyday payments - groceries (most often Hofer)

Among other smaller banks present I found mentioned:

• Monese - offers debit card,
• mBills: since 2013, pay / send: mobile wallet, 1,99 eur / month
• TransferWise: TransferWise borderless - free & TransferWise debit Mastercard
• Vivid Money: Visa debit card
• bunk - Travel card - credit Mastercard
• Curve - debit Mastercard
• Monzo, Starling Bank, Atom bank

[Nordkapp]

1. Pay.
   Transferwise. Pretty easy to use not only in my country with HUF as a currency but also in neighboring countries with euro.
2. Invest.
   Revolut . Easy to use to buy stock.
3. Lend.
   Armour crypto dapp. You need to be familiar with cryptocurrences.
4. Borrow.
   Blockfi. You need to be familiar with DeFi.
5. Insure.
   Lemonade .

[Meddodreddo]

Pay: Nethone, secures payment systems by AI detection of fraudulent payment activity
Borrow: Visset, small business loans for unforeseen needs
Save: Goodie, collates companies offering cashback to customers in one app
Lend: Dualcore, AI driven online lending
Insurance: hiPro, merges insurance and financial product purchasing from insurers and banks

[CryptoCowboy1311]

FinTechs are the future, in the way we will access our currencies, purchase insurance, build savings, invest, borrow, and lend.

1. Payments: Highradius Technology, uses AI automation to gain insights and increase efficiency with order to cash treasury systems.
2. Investing: Financial Services Tech, uses technology capabilities to find Start Up companies/Technologies to invest in prior to going public.
3. Borrowing: Beyond Finance, is the innovation for the consumer to be able to borrow against technology based company holdings.
4. Save: Crunchbase
5. Lend: Biild, is a construction finance company that partners with regional and national suppliers across the US to offer project based financing to contractors.
6. Insurance: Deloitte, has risk free underwriting, on the spot purchasing, activation, and claims processing.

[Mathew]

6 Types of Fintechs in Ontario:

Payments - Nanopay. They provide integrated payments, both domestic and cross-border while offering a loyalty program as well.

Investments - Wealthsimple. They act as a low-cost digital stock and crypto brokerage which allows ease of access for Canadians of all financial situations.

Loans - Loans Canada - This is a website that takes information from a consumer about what sort of loan they need, or debt consolidation and it finds the best rates among a multitude of different providers for the consumer.

Saving - KOHO Finance - 1.2% cashback on your savings account. Advanced payday loans. Reloadable cards. Low fees.

Lending - Salt Edge - Connects major financial institutions and other banks to clients all across the globe in need of a loan

Insurance - Lowest Rates.Ca - Brokerage aggregator for connecting consumers to the best insurance prices possible

[Fjell]

Fintech in the United Kingdom:

1. Pay.
   Starling Bank was the first brand in the UK to launch a mobile-only current account and also offers business accounts – something its rivals are still working on. Starling has all the features you’d expect from a high street bank – money management tools, a contactless debit card, and 24/7 support – without the baggage of a physical presence.
2. Invest.
   Nutmeg uses digital technology to open up investment opportunities , Nutmeg thinks it’s a fintech with a big difference. Instead of relying on complex algorithms to make decisions on behalf of its customers, Nutmeg employs…wait for it…human beings to perform this role. Users define targets and set the level of risk they’re comfortable with before Nutmeg’s team present them with portfolio options.
3. Borrow.
   Funding Circle is one of the UK’s three big peer-to-peer lenders – and the first to go public –Funding Circle claims to have helped nearly 50,000 small to medium-sized UK businesses achieve their objectives through borrowing a total of £5 billion on its platform.
4. Save.
   Monzo Bank is presently responsible for around $1.1 billion in deposits and, while most banks lend out most of the millions they are looking after, none of the cash at Monzo is being gambled with, traded, or divvied up into financial instruments. Instead, Monzo opts to simply store all of its deposits in the Bank of England.
5. Lend.
   Fundera is an online marketplace designed to help small businesses. It connects founders with 28 potential funding providers for their company. Pre-screened lenders assemble the highest quality funding sources and ensure that owners receive fair rates and terms on each loan granted. This idea of pre-approved loans will help save time and rejection for these owners to get their business underway as soon as possible. Already over 1,700 borrowers have used platform to borrow $85 million.
6. Insure.
   Homelyfe aims to provide a single application to manage all of your insurance policies in one place. This includes getting quotes and purchasing, to managing and renewing insurance policies, and even starting a claim.

[Ivan_Z]

By end of 2020, mora than 400 startups operate in Spain in the Fintech sector, 70% of spanish origin.

75% collaborate actively with the “traditional” financial and banking sector, and all together make the 6th biggest market in Europe of alternative financing with an anual growth ration of 15%.

(1) PAY

Deudae: allows customers to cash and pay bills

Kantox: allows the exchange of different currencies

bizum: money transfer through mobile phones

baluwo

dinube

pagantis

(2) INVEST

Accura

Clickfunds

Feelcapital

Inviertis

Qbitia

Brickfy

( 3) BORROW

Creditea

Monedo

( 4) SAVE

Hey Banco

Cuenca

Albo

Arbor

( 5) LEND

Mash: allows personal loans

Arboribus: crowdlending P2B for small and midsize enterprises

Loanbook: debt capital market platform.

(6) INSURE

Caser: provides house, car and health insurances

Here an overview of the spanish Fintech landscape:

[jCA]

1. Pay
   • Square - Payment/Merchant Services
2. Insurance
   • Slice - Share Economy Insurance services and risk management built on the cloud, using Ai, and other emerging technologies
3. Borrow
   • Affirm - Consumer point of sale lending
4. Investing
   • Yieldstreet - Generate passive income with alternative investments
5. Lending
   • Kava - Peer to Peer Lending. Lend to worldwide underserved banking communities to assist and finance various causes
6. Save
   • Novo - Business banking aimed at small business, the gig economy, and startups

[JamesM]

SAVE - RAISIN (marketplace & ecommerce / investing)
INVEST - NUTMEG (online discretionary investment manager)
LEND - CROSSLEND (investing & borrowing platform)
INSURE - MOONSHOT insurance
BORROW - LENDINVEST ( Mortgages) / SALARYFINANCE (Provides loans to employees with repayments collected from salary deductions)
PAY - SYNC.MONEY (Open banking, payments) / BILLIE ( invoice payments B2B)

[William_Kuang]

FINTECH IN JAPAN 2021

• Use google to find fintechs that are active in your region. Try to find at least one for each of the 6 pillars of finance and write a couple of sentences on what each and one of the fintechs are doing and share your answer in the forum if you like.

1. Save - Finbee: https://finbee.jp/
   allows you to automatically save a portion of your monthly salary into the app.
   you set your financial goal in the app and the app makes sure you save the required amount every time you receive your paycheck. nifty app for those who arent good at managing their funds.

2. Invest - Plug and play , investments into Japanese startups
   https://japan.plugandplaytechcenter.com/
   allows people to easily invest into new startup projects. collates these new businesses.

3. lend - couldn’t find one so I found an additional “borrow” fintech in the Japanese fintech industry.
   This area is still primarily dominated and regulated by the banks in Japan. For those who dont go to banks for loans, there is the blackmarket (yakuzas). Unfortunately, there are some things that don’t change much in Japan…

4. Insure - justincase, japanese insurance fintech company:
   https://justincase.jp/

They provide different types of insurance that normally wouldn’t be covered by traditional insurance companies.
This includes smart phone insurance (not kidding!), coronavirus insurance, simplified insurance that has zero upfront fee, etc.

I think the smartphone insurance is quite interesting. You definitely don’t see that often!

5. Borrow - Global mobility service
   https://www.global-mobility-service.com/

People caan borrow money from GMS since GMS will handle all the bank papers and transactions for you, simplifying the loaning process.

6. Pay - “Paypay” paypay.ne.jp
   payment system that many restaurants use.
   Can use this app to pay using your smartphone or smartwatch.
   I’ve seen my Japanese friend pay for a falafal sandwaich with this app under 3 seconds.
   That was faster than me finding pocket change in my Jeans!

Extra. Borrow - Paidy
https://paidy.com/

I believe they also have a borrowing function too.
This app is specifically deisgned for those who want to go shopping and want to pay later.

[jude]

FinTechs used in the Philippines

1. Payment - https://www.palawanpawnshop.com/
2. Investment - https://citiglobal.com.ph/blog/ideal-investments-philippines-2020/
   3, Borrowing - https://advanceloans.ph/9f-lending-philippines-incorporated/
3. Saving - https://www.moneymax.ph/personal-finance/articles/high-interest-savings-account-philippines
4. Lending - https://cariscompany.com/personal-loans-in-the-philippines/
5. Insurance - https://www.manulife.com.ph/

[Chuks]

1. Payment
Atom, Railsbank, Sumup, Paid, Zapier, Wirex, DIEM.

a) Wirex enables users to buy, store, exchange and send a wide variety of conventional and digital currencies quickly and securely without any hidden fees.

b) Paid handles client management, contracting and invoices. It enables freelancers to get paid as soon as work is completed instead of waiting for late invoices.

2. Insurance - Zego - simple, easy to understand, flexible (from 1 hr cover to 1 year cover), fast online commercial motor insurance fintech company for private vehicles and fleets.

3/4. Mortages, Lending and borrowing

a). Iwoca is an online FinTech company based in London. It offers credit facilities to small businesses trading in the UK and Germany via an automated lending platform. Iwoca recently secured funding via the government’s Future Fund scheme, a funding program that aims to offer high growth firms an opportunity to match third party investments of up to £5 million by subscribing for convertible loans issued by such firms.

The FinTech lender announced a UK-first integration with small business platform Xero. iwoca’s invoice checkout – iwocaPay will be integrated into Xero’s platform for enabling small businesses to provide a Pay Later option to their business customers. The collaboration will allow iwocaPay to be directly accessible in Xero.

Founded in 2011 by Christoph Rieche, CEO and James Dear, CTO, iwoca provides loans of up to £250,000 to small and micro businesses via its website and through its lending API and Open Banking, using digital solutions to slash the time and paperwork required to approve funds.

b). Mojo Mortgages - online mortgage brokers who make all the necessary phone calls and arrangements for customers until the deal is finalized.

5)Investment - Tumelo: helps users make socially responsible investments through a white label software that integrates with existing investment platforms to improve customer engagement, acquisition and retention of providers.

6) Savings
Ever up: rewards customers for saving by giving them an opportunity to win tax-free cash prizes.

[Staywell]

Saving: Chime - mobile banking

Investment: Robinhood, coinbase

Borrow: Blockfi, Zopa

Lending: Blockfi, Kabbage

Pay: Venmo, Paypal

Insurance: Lemonade, insurify

[FreeBird81]

1. Pay pillar: Stripe - Stripes products power payments for online and in person retailers, subscription businesses, software platforms and market places and everything in between.

2. Invest pillar: Robinhood - Robinhood is a securities brokerage

3. Borrow pillar: Credit Karma - Provides free credit scores and credit monitoring to retail users as well as personalized help in making the credit scoring better.

4. Save pillar: Acorns - All digital banking with direct deposit, mobile check deposit, check sending and more.

5. Lending pillar: Affirm - Offers installment loans to consumers at the point of sale.

6. Insure pillar: Lemonade - Is a peer to peer insurtech company that aims to simplify the insurance sign up process by eliminating middle men and encouraging quicker enrollment.

[CryptoUnicorns]

Active Fintechs in Spain

Pay:
Pecunpay, a study shows that consumers are clearly demanding access to mobile payments. Pecunpay is going to further innovate in this regard, with initiatives such as an agreement with Visa, with whom they recently launched the implementation of the Xpays service or mobile payments with ApplePay and GooglePay, where users will be able to add Visa/Pecunpay cards to their mobile devices and pay at any establishment or e-commerce, or even through their Apple and Google wallets.

Invest:
Bnext is a fintech platform headquartered in Madrid, the first supermarket for financial products, it reflects a new way of banking that challenges traditional banking from its foundations. a model that allows to really collaborate with the fintechs and get the best available offers on the market. The Fintech portfolio to date includes real estate investment firms, mutual fund investment, loans and crowdlending, microloans or crowdfunding, progressively integrating the most leading products in the market to expand the offer and thus become the first bank without balance.

Borrow: ID Finance is a data science, credit scoring and digital finance company that is pioneering fintech innovation in emerging markets with a range of convenient, competitive and transparent loan products available over the internet. The company uses machine learning and advanced data science techniques to improve access to competitive financial services, headquartered in Barcelona.

Save: Goin is a mobile application to save money easily and take advantage of it without knowing how to invest, through Machine Learning algorithms that allow you to accumulate the user’s money through small daily gestures.

Lend: Fintonic is a mobile-centric consumer banking platform that provides its users with insurance and investment products, and targeted loans.

Insure: Banco Bilbao Vizcaya Argentaria SA (BBVA) is a Spain-based international financial group. The Company’s activities are focused in such business units as banking, pension and insurance in Spain and Portugal, Mexico and South America. The BBVA had the advantages of significant size, a strong capital base, a considerable financial structure and appropriate geographic diversification of its business and risks. As a result there was a greater profit potential. In the USA and Puerto Rico, the Bank only comprises banking business.
The Company has two cross-sectorial business units, Corporate and Investment Banking and Global Retail & Business Banking, which includes retail banking, commercial and small and medium enterprises (SMEs) banking, payment systems, consumer finance and private banking, among others.
Parent company of Grupo Banco Bilbao Vizcaya Argentaria, which comprises such entities as BBVA Banco Frances SA and BBVA International Limited, among others. In December 2013, the Company sold of the entirety of its about 98.92% direct and indirect interest in Banco Bilbao Vizcaya Argentaria (Panama) SA (BBVA Panama) to Leasing Bogota SA, Panama.

[spaceballs]

pay: bitpanda.com - for Austrian customers possible to pay bills direct from account via IBAN
insure: riskine.com - solutions for digital consulting of banks and insurances.
borrow: reval.co.at - crowdfund property
invest: bitpanda.com - invest in crypto, metals, stocks and crypto index
save: savity.at - for private customers from €10k+ access to professional strategies
lend: 1000x1000.at - lending based crowdfunding

[DJM]

South Africa :
(1) Save – Jumo : uses AWS machine learning data to identity customers for savings products in the informal sector and integrates with local banks to provide credit scoring and origination rails.
(2) Invest – DCX10 : Crypto index fund
(3) Insure – Pineapple : peer to peer based insurance co-operative
(4) Lend – Jumo : uses AWS machine learning data to identity credit worthy customers for loan products in the informal sector and integrates with local banks to provide credit scoring and origination rails.
(5) Borrow – No capital market fintechs that I am aware of yet
(6) Pay – Ozow : uses QR codes to facilitate cashless EFT payments between customers and merchants

[tony1999]

Unfortunately there are very few recognized fintechs in my region, but here are the ones I could find:

1. Pay: SURE
2. Invest:
3. Borrow: Lendo
4. Saving: Hakbah
5. Lending: Lendo
6. Insurance:

[cryptcat]

I’m in NY in the US and here is what I could find:

-payment: venmo, zelle, current – all offer peer-to-peer payment systems
-investment: stash, titan, robinhood, cashapp — these permit users to get exposure to investing, either by doing it automatically (i.e. stash will take the extra cents on the full dollar and invest it for you), or offer extremely easy access to a small number of stocks/crypto (i.e. cashapp/robinhood)
-borrow: alloy, landis — uses AI to generate a profile on a consumer to determine parameters of use
-lend: climb credit, better.com — uses AI to generate a profile on a consumer to determine parameters of use
-save: acorns, chime, stash (see above)
insurance: attune --streamlines access to insurance for more efficient process