Why is this?
From one perspective it’s very simple to answer: every player in the insurance market has been enjoying 10-20% net margins for over a century, so why would they want that to change? Lloyds of London tried bringing into their organisation technology innovation with Kinnect in 2002 but after £70m investment and 5 years, it was shut down. Hence, until the rise of fintech, insurance companies felt very [...]
A funny thing happens in the world of startup events, sometimes if you look at what’s going on in parallel among separate agendas, you can find telling congruence. It’s definitely a function of how hard you look, but the following two SF happenings, from residents of opposite ends of Market Street, share a complementary overlap that rings pretty intuitive for me. It is no secret I follow, even live, this corridor on a regular basis (Market Startup Stroll), and in the 2nd and 9th posts of that ‘Stroll’ twitter series you will find the homes of the two residents I speak of here.
‘The Future of Encryption, Housing, and Regulation’
This event was [...]
It saw a wide spread of attendees and debated topics. The conversation included the origins of fintech, the variations between the US and the UK fintech sectors, (surprisingly little crossover), the practical applications of blockchain, and the legalities of it, (still very much unformalised).
Other sub sectors of the all-embracing fintech label that got buzzed about were proptech, insure tech, equity crowdfunding, robo advisory services, the Chinese, and the probable future crash of at least one p2p platform and [...]
But fintechs are different. And here’s why. Nowadays, the valuation of fintech companies isn’t so much dependent on their economic valuation, revenue or profitability. Their valuation is based on the probability of future higher valuations and ultimately liquidity for the investors. A quick reminder of where the exit doors are located.
Management Buyout: Probability – Zero to very low. IPO: Probability – [...]
Drowning out the noise pollution around you can be hard, especially if your headphones aren’t up to par. But with modern noise-cancelling technology, that sort of distraction can be minimized. With so many options on the market, picking the right headphones to fit your needs can be tricky. Knowing which features are important to you will help narrow down the decision. Here are a few to keep in mind.
Active vs Passive
The first thing to know about noise-cancelling headphones is the difference in the technology. Noise cancelling can be achieved in two ways, active and passive. Passive works like an earplug, you get less sound from the outside world because of a seal [...]
Businesses need to adapt to a lot of change these days. Everything from new technology to client expectations is subtly – and sometimes not so subtly – altering many business plans, and the changes in budget forecasting is no exception. The old method used to be that a company would create a firm budget in advance in preparation for the year ahead, but with the way that businesses can shift from profits to loss on the turn of a dime, it’s entirely possible that these budgets become out of date quickly. With traditional methods of forecasting being deemed unreliable in today’s marketplace, the concept of rolling forecasting is gaining popularity. The notion that you can create an [...]
Synechron Inc., a global consulting and technology innovator in the financial services industry, announces its new, state-of-the-art digital innovation centre in central London, dedicated to next generation banking and insurance. The new centre enables businesses to become fully immersed in the wealth of new technology available, through the combined innovation of augmented reality, artificial intelligence, blockchain, natural language and biometrics, mobile, and touch & smart [...]
With massive investments and staggering predictions about the Internet of Things “IoT” (Experts estimate that the IoT will consist of almost 50 billion objects by 2020), loan management software provider, Nostrum Group has looked at what the IoT is (and what it isn’t) and some of its applications.
The major growth in the wearables market or the evolution of smart homes is now shining a spotlight on the IoT with sensors becoming smaller and cheaper. Consider the potential of a washing machine that monitors its own performance and can transmit that data back to the manufacturer or can set [...]
Why did you decide to create a bank?
“Because I hate my bank.” I ask which one, he says that’s not the point, they’re all as bad as each other. This helps explain why people don’t change banks. It’s not because they’re all super satisfied, it’s because there’s no real difference between them.
Every action has risk, and banks are traditionally averse to risk, and therefore have been relatively slow to adopt new technologies, new practices, and new markets. This risk averse / change resistant position is the entire reason why fintech has emerged as a distinct sector, and why fintech challengers have been able to take major slices out of the banks’ core services. Money transfer, business lending, factoring, already heavily targeted by fintechs, next in line are mortgages, insurance services, and inevitably, consumer lending, already nibbled at by P2P systems.
The most imminent risk for [...]