40
The month in numbers… $14.6 BILLION… China continues to dominate the FinTech movement, whilst exciting players are emerging
in countries across the world, including India, Israel and the Philippines. That’s according to FinTech Innovators, a collaboration between H2 Ventures and KPMG FinTech, which has announced its third annual FinTech 100 list. This includes 50 “Established” companies across the globe, as well as the most intriguing 50 ‘Emerging Stars’. The level of funding has continued to rise, with companies on the list attracting an additional $14.6 billion of capital since last year’s report.
The top 10 companies in the FinTech 100 2016: Ant Financial – China; Qudian (Qufenqi) – China; Oscar – USA; Lufax – China; ZhongAn – China; Atom Bank – UK; Kreditech – Germany; Avant – USA; Sofi – USA; JD Finance – China.
$16 BILLION… Consumers could save $16 billion in mortgage banking and motor insurance fees through
blockchain-based smart contract adoption, according to a Capgemini report. This finds that, when negotiating a mortgage, US consumers could expect savings of $480 and $960 in origination and related fees.
Banks in the EU and US, meanwhile, would be able to save between $3 and $11 billion annually on mortgages by lowering processing costs. According to the report: “Smart contracts have existed as a concept for over 20 years, but it is only thanks to recent technological innovations such as blockchain that they are becoming a reality…We anticipate that such smart contracts have the potential to save the financial services industry and consumers billions of dollars thanks to lower operational and vastly reduced administration costs. Additionally, contract resolution will be simplified, reducing settlement times and removing much of the hassle associated with the process. We expect everything from mortgage applications and motor insurance to the leveraged loan market to be transformed.”
2…UBS has named Peter Stephens as its new head of blockchain. Stephens, formerly Hong Kong based Chief Technology Officer for APAC, has been with the Swiss banking giant since 2003.
He will relocate to London and report to Head of Innovation Veronica Lange. Before joining UBS, Stephens worked as a consultant for the Financial Services consulting practices at IBM and PwC. He replaces its first head of blockchain Alex Batlin, who departed earlier this year and is understood to be moving to BNY Mellon to continue his work on blockchain projects.
www.ibsintelligence.com © IBS Intelligence 2016
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
