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With the negative impact of the COVID-19 pandemic spreading the globe, the World Bank expects that the global economy will contract by a staggering 5.2% this year, while Ian Bremmer, President of Eurasia Group, speaks of “the first global economic depression of our lifetimes”. Government rescue measures have already exceeded US$4.5 trillion, and growing by the day, leading to not many people feeling optimistic these days.
However, global headlines make it clear that industries are not being affected equally, that some are finding opportunities, despite the many challenges on the horizon. Among those worst-hit are the airline industry, which is forecasted to incur losses of $250 billion, the hospitality and leisure sector, which in the US alone recorded a 47% loss in jobs, and the
IDEMIA, the global leader in Augmented Identity, helps FinTechs launch card programs rapidly with the IDEMIA Fintech Accelerator Card Program, a dedicated program from onboarding to card issuance.
In the context of a rapid transformation of the banking industry, IDEMIA, the global leader in Augmented Identity, supports FinTechs and neobanks with the launch of the Global Fintech Accelerator Card Program. This new program allows a rapid process from cardholder onboarding – to card issuance.
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(Photo: Business Wire)
IDEMIA’s leadership in card manufacturing, as the number 1 global FinTech card issuance partner, is based on a solid experience of a global dedicated FinTech team and a network of 30 Service Centers in 26 countries around the world. FinTechs can leverage the capability and know-how of IDEMIA to enable card issuance into the marketplace anywhere in the world.
NEW YORK, Oct. 5, 2020 /PRNewswire/ — CB Insights, which enables the world’s leading companies to make smarter technology decisions, today announced a call for participants in its inaugural Future of Fintech Global Innovation Challenge. CB Insights is excited to host possibly the largest-ever fintech hackathon, aiming to attract more than 2,000 participants worldwide.
Beginning October 1, organizations are invited to submit financial services problems. These challenges will cover the range of financial services, including banking, payments, wealth management, financial inclusion and insurance. Global financial services organizations including Galileo Financial Technologies, Citi, Nasdaq, and Jack Henry & Associates have already signed on to participate and new companies are joining daily.
Individuals and enterprise teams are also invited to compete and conceptualize solutions for these significant challenges. Five finalists will present their projects at the Future of Fintech conference held on November 16-18, 2020. In its
Fintechs expect embedded finance to be a dominant trend by 2030, with big techs leading the charge.
This would open partnership and customer acquisition opportunities for fintechs.
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.
The fintech industry expects financial services to increasingly be embedded into nonfinancial platforms over the next decade, so much so that fintech will no longer be a distinct sector, per a press release seen by Insider Intelligence.
Fintechs expect embedded finance to be a dominant trend by 2030.
Business Insider Intelligence
“Embedded finance” is a term for nonfinancial firms directly offering financial products and services to their customers while retaining complete control over the customer experience. The findings are based on the study “Fintech 2030: The Industry View,” by payments provider Tribe Payments, which surveyed 125 fintech executives.
BEIJING, Oct. 1, 2020 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter referred to as “Future Fintech”, “FTFT” or “Company” ) a leading blockchain e-commerce company and a service provider for financial technology, today announced it has appointed Mr. Weicheng Pan as Chief Strategy Officer of the Company. Mr. Pan will be responsible for the Company’s strategic planning, international M&A, investment and financing activities, and will support the management team to promote the Company’s global development strategy.
Mr. Weicheng Pan is an angel fund investor in China and a trainer for Chinese enterprises. Since November 2019, Mr. Pan has served as dean of Guangdong Jewish Mindset Business School and president of Malaysia Chengji Business School. From January 2016 to October 2019, Mr. Pan served as chairman of Chengji Group, a company incorporated in China.
Mr. Pan has conducted over 100 lectures in Malaysia and Singapore
Pandemic or not, the time has come for freelancers and the self-employed to be prioritized by the fintech industry. In Germany, freelancers spend an average of 25 days and €3000 ($3,510) a year attempting to organize their finances through disparate banking, accounting and tax advisory services.
Due to a lack of education, complex processes and subsequent delays, the self-employed are deprived of a clear, holistic view of their finances and are therefore, exposed to liquidity bottlenecks and the risk of being cash-strapped, especially problematic amid uncertainty as a result of Covid-19.
A one-stop shop solution is required. To resolve this issue, Berlin-based mobile business bank Kontist has recently launched a service that makes accounting an integral part of bank transactions so that corporate and income tax calculations can be made in real-time.
While accountants and tax agents are ready to help, it is
A month after completing Y Combinator’s accelerator program, BukuWarung, an financial tech startup that serves small businesses in Indonesia, announced it has raised new funding from a roster of high-profile investors, including partners of DST Global, Soma Capital and 20VC.
The amount of the funding was undisclosed, but a source told TechCrunch that it was between $10 million to $15 million. The new capital will be used to hire for BukuWarung’s technology team. TechCrunch first profiled BukuWarung in July.
Angel investors in the round include several high-profile founders and executives: finance technology platform Plaid’s co-founder William Hockey; Tinder co-founder Justin Mateen; Superhuman founder Rahul Vohra; Adobe chief product officer Scott Belsky; Clearbit chairman and startup advisor Josh Buckley; former Uber chief product officer Manik Gupta; Spotify’s former head of new markets in Asia Sriram Krishnan; 20VC founder Harry Stebbings; Nancy Xiao, an investor with Bond Capital; and Fast co-founder Allison
Technology is shifting the way industries market to, acquire, and serve consumers. To understand how technology will impact the financial services industry, I turned to Jonathan Metrick, the Chief Growth Officer for Portage Ventures, a fintech focused VC. Below are his insights.
Kimberly Whitler: How does your experience provide a unique perspective on tech and the financial services industry?
Jonathan Metrick: My unique perspective comes from my experience on both the investing & operating sides of fintech (financial technology). My role as Chief Growth Officer at Portage Ventures allows me to see the breadth of the industry, by advising over a dozen fintech businesses across our global portfolio on marketing & growth. Prior to this role, I was the CMO of Policygenius, the leading insurtech marketplace in the US, where I gained deep expertise building a marketing division of +40 and helping scale the business 10x in three
BEIJING, Sept. 22, 2020 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter referred to as “Future Fintech”, “FTFT” or “Company” “) a leading blockchain e-commerce company and a service provider for financial technology, today announced it has signed a term sheet (“Term Sheet”) with Spondula, a company incorporated in the United Kingdom (UK) and the selling shareholder of Spondula on September 19, 2020. Pursuant to Term Sheet, the Company plans to acquire 51% of the total issued and outstanding shares of Spondula. The Term Sheet is non-binding except for the “Exclusivity”, “Confidentiality” and “Governing Law” sections.
According to the Term Sheet, FTFT or its subsidiary will acquire 51% of the total issued and outstanding shares of Spondula through a share exchange with the shareholder of Spondula.
Spondula is located in the UK and it operates a global banking and money transfer platform serving both individuals and