Build your digital toolkit like it’s a fintech smartphone

Despite the sophistication of today’s tech offerings, many firms and advisers face an uphill battle in building an integrated tech stack that provides everything they need. Complicating matters is that some fail to realize how an ad hoc approach to technology can impact their entire operation.

In some respects, the dynamic evokes memories of the evolution of the smartphone, which began as an effort to combine all the disparate personal tools that already existed into one consolidated platform that was sleek, easy-to-use and intuitive. Now, billions worldwide have access to a hand-held computer customized to their daily routine everywhere they go. 

Firms and advisers need to approach the construction of their tech stacks in the same way. Here’s how: 

Consider your needs. Before Steve Jobs unveiled the iPhone in 2007, it was of course possible to make a call, take a photo, schedule a meeting, text with friends or send

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Flipkart Banking On Fintech To Boost The Big Billion Days Sale

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Flipkart has announced partnerships with several banking, insurance and financial service entities, ahead of The Big Billion Days, to make shopping on the platform more affordable than before.

Through these partnerships, the company is offering affordable credit options through seventeen leading banks, NBFCs (non-banking financial companies) and fintech players on the platform, which will drive credit accessibility for over 70 million customers.

Flipkart has partnered with State Bank of India (SBI) and SBI Card to provide a 10 per cent discount to their debit and credit cards holders.

“At Flipkart, customer-centricity is at the heart of all our endeavors, as we create increased shared value for all our stakeholders and partners in

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Coronavirus has failed to dent Hong Kong’s fintech push, future role as fundraising hub for bay area, say experts



a flag on the side of a building: Hong Kong’s finance sector has remained ‘vibrant’ despite the health crisis, as unemployment in the sector remained below 3 per cent. Photo: EPA


Hong Kong’s finance sector has remained ‘vibrant’ despite the health crisis, as unemployment in the sector remained below 3 per cent. Photo: EPA

Hong Kong’s financial sector, its use of financial technology and role as a fundraising centre for the cities of southern China have weathered the coronavirus outbreak and even thrived in some areas, according to a panel of industry players.

The city’s finance sector has remained “vibrant” despite the health crisis, as unemployment in the sector remained below 3 per cent, much better than the overall figure of 6.1 per cent , said Rocky Tung, head of policy research on the Financial Services Development Council, a government advisory body.

“The development of the (Greater Bay Area) has been continuous. The financial sector is relatively less affected by Covid. In terms of trading (and) IPOs, we are also very vibrant,” said Tung.

Get the latest insights and analysis from

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A Fintech Frontier Calling for Pioneers


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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

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10 Startups Selected for Accenture’s 2020 FinTech Innovation Lab Asia-Pacific

Accenture and 19 leading financial services firms to mentor financial technology entrepreneurs in seventh annual program

Ten leading fintech companies have been selected for the seventh annual FinTech Innovation Lab Asia-Pacific, a mentorship program created by Accenture (NYSE: ACN) that helps startups fine-tune their business plans and solutions by pairing them with mentors from leading financial institutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201005005840/en/

Ten leading fintech companies have been selected for the seventh annual FinTech Innovation Lab Asia-Pacific. (Graphic: Business Wire)

This year’s program received applications from 162 companies across more than 30 countries, with solutions related to the five themes for the 2020 program: data & analytics; digital bank solutions; emerging technologies; health insurance ecosystem; and intelligent automation.

Leveraging artificial intelligence (AI), advanced analytics, natural language processing and other technologies, the 10 selected startups — which hail from seven markets — have developed innovations

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CB Insights Announces Call for Participants In its First Future of Fintech Global Innovation Challenge

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

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Embedded finance expected to blur fintech lines by 2030

  • 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' view on big tech firms offering financial services

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.

Respondents

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Future FinTech Appointed Weicheng Pan as Chief Strategy Officer

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

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Mission-Driven Fintech Kontist Shakes Up The Future Of Work For Self-Employed

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

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Wells Fargo ups third-party fintech data-sharing capabilities

  • Wells Fargo will enable customers to share financial data with third parties via Envestnet | Yodlee’s platform.
  • This move will help the bank take advantage of pandemic-driven use of financial wellness apps.
  • Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry with the Banking Briefing. You can learn more about subscribing here.

Customers of the major bank will be able to share their financial data via an API with over 1,400 third-party financial applications that use the Envestnet | Yodlee Financial Data Aggregation Platform.

wells fargo fintech accelerator_4x3

Wells Fargo ups third-party fintech data-sharing capabilities.

BII


Going forward, Wells Fargo intends to offer clients more fine-grained control over how they share their financial data by allowing them to toggle data sharing on and off and manage what data is shared with Envestnet | Yodlee-supported apps within Wells Fargo’s digital Control Tower feature. The bank plans to start launching the

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