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Igor PesinPartner, Investment Director @ Life.SREDA VC
Lessons from Fintech in Asia and future of open banking
Life.SREDA I Life.SREDA II Asia
Moscow Singapore
2012 20152014
13 investments(US, UK, Germany, CIS) 7 successful exits 8
investments(South East Asia)
Research & Vision
Influelce on the whole infustry trough own blogs fintechranking.com and
semi-anual Fintech research “Money of the Future”
www.www.fintech-research.com .com
Bank-as-a-srevice and open API playAccelerator in Singapore
Taiwan
SME-lending
& FactoringPOS-managment
system &
tablet based
cash-registers
-
Online-tra
ding
Online-
lending
P2B-lending
Crowndfunding
& Crowndinvesting
Online-
remittances
PFM&PFP
Insurtech
ddleware
mPOS-acquiring
Online-lending
for students
First BaaS-platform for Asiais very necessary for the future
fintech development
Life.SREDA is supporting a strategic fintechproject: open API Pan-Asian platform BAASIS
Life.SREDA VC Executive summary
This time has come:
Asia become the largest fintech market in the world
in 2016
Fintech before: disruptors and enablers
Fintech now: Сreators
Investments in fintech annually ($B) Region distribution of funding (%)
47
38USA
Asia
Other
88
2,5 2,94,4
12,3
20,3
23,6
19,1
0,3 0,4
2,2 2,5
1,5
2,9
5,5
6,8
5,8
14,5
6,1
13,0
VC Backed fintech investments
Other fintech investment
+16%
-6%
2011 2012 2013 2014 2015 2016
4,5Ant Financial
Asia is driving the growth of Fintech market worldwideaccounting to almost 50% of global volume
EU
Amount of financing deals (#)+36% +7%
2015Q1
Q2
Q3Q4
Q1Q2
Q3
Q4
2016
308
366
410398
442 428
378
343
Asian market is the main driver for the growthof global Fintech industry in 2016
Note/source: Source: Mattermark, Dow Jones, Life.SREDA VC analysis
The total invested capitalin Asian Fintechcontinued to grow in 2016, despite few mega dealsthat made >60% of the 2016 total;
In Asia, almost 70% of dollar investments in 2016 went to Chinese companies;
257 deals are counted by Life.SREDA
0,51,5
6,3
9,8
2013 2014 2015 2016
Investments in Asian Fintech by year ($B)
257 DEALS
221DEALS
156DEALS
Ant Financial
$4,5B
Zhong An
$0,92B
Fintech unicorns: 4 Chinese giants are in TOP5 in 201625 fintech unicorns globally valued at $150B in aggregate value
Fintech Unicorns Valuation
2015
24 unicorns
$112B Total valuation
2016
$150B Total valuation [+$38B]
25 unicorns
USA AsiaEurope
Zh
on
g A
nO
nlin
e
8,0
Kab
bag
e
1
Fun
din
g C
ircl
e
1
Jim
ub
ox
1
Gu
sto
1
Ch
ina
Rap
id F
inan
ce
1
Laka
la.c
om
1,6
Ro
ng
36
0
1,6
Pro
spe
rM
arke
tpla
ce
1,9
Ava
nt
2,0
Gre
en
Sky
2,03,6
Pay
TM
1,9
4,8
Ad
yen
2,3
Mo
zid
o
2,4
Cre
dit
Kar
ma
3,5
SoFi
4,0
Tra
nsf
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ise
1,1
new
Lu
fax
18,5
10,0
An
t Fi
nan
cial
60,0
45,0
Ze
ne
fits
4,5
2,0
JD.c
om
7,4
Stri
pe
9,2
5,0
Qu
fen
qi
1
5,9
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rna
1,42,3
Osc
ar
1,42,7
123456789101112131415161719212224 2325 20 18
Disclaimer: Public companies are not included; only $1B>;no SaaS, Cloud, enterprise software, hardware etc; only FinTech accordiing to Life.SREDA
$B
Payments and deposits
What is Fintech
Online payments
Processing / acquiring
Recurring
International P2P
Merchant acquiring
B2B
Main Categories:
p2p lending
Loan Marketplace
SMB Lending
Supply Chain finance
Student Lending
Real Estate and industryspecific originators
Marketplaces
Main Categories:
Lending / Deposits
What is Fintech
Number of rounds (#) and amount of capitalinvested in Insurance quarterly ($B)
78 82
125157
Insurtech market decreased by 34%in 2016, while the number of dealsincreased by 25%
Q1
78 37110 56 114
311
1727
198124
189
384
210
390
190280
790
Q2 Q3
2013 2014 2015 2016
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Today, the market consists of <1400 insurance tech companies, the launching tendency is decreasing, almost 300 companies founded in 2015, 40% less in 2016
In 2015, the pike was mainly because of a largeChinese deal – Zhong An, that made almost 40% of the whole year’s funding amount
There is an increase in investment rounds: in 2014 – 54 rounds;in 2015 – 125 rounds;in 2016 – 157 rounds.
-31% +165%
-34%+236%
747
281
1650
2510
Zhong An$981M
Credit scoring
Big Data
Risk management
Regtech
Machine learning and AI
Security
Main Categories:
Big Data & Scoring
What is Fintech
Asian (Chinese) mega deals dominatethe global fintech market
Payments
Lending
Insurance
Fintechfor SME
Banking
Big Data
Financialmanagement
North America14 companies
$2.25B
Europe3 companies
$648M
South America2 companies
$262M
Asia11 companies
$8.7B
Top 30 companies made
>50%of all fintech funding
Lendingprevailed in 2016
with 12 deals out of 30gone to this field
While North America sawthe biggest number of deals,
Asia leadsa total funding volume
Blockchainhas not entered the TOP-30
largest deals list yet– looking for 2017
Ant Financial $4,5B B
Lu.com $1,2B B
JD Finance $1B n/a
Qufenqi $449M Late
Oscar Insurance $400M C
Ion Investment $400M PE
U51 $310M C
China UnionPay $296M n/a
CommonBond $275M Late
Fenqile $235M D
Mosaic $220M Seed
HeTai Insurance $218M Seed
Payoneer $180M n/a
WeLab $160M B
Clover Health $160M C
Weidai $153M C
Lendup $150M B
Stripe $150M n/a
Hero FinCorp $150M n/a
EDM Group $145M n/a
Nubank $132M C-D
XP Investimos $130M PE
PaySimple $115M n/a
MetroMile $103M D
Kreditech $103M C
Betterment $100M E
Fractal Analyst $100M n/a
Affirm $100M D
Avalara $96M n/a
Ygrene Fund $95M n/a
Wealthmanagement
Investments into FinTech in Afrika are twice bigger than in South East Asia
in 2016
M-DAQSingapore
$82,5M
MatchMoveSingapore
$30M
GroupLeaseThailand
$30M
ItBitSingapore
$25M
FastacashSingapore
$15M
Investments in SEA Fintech dropped by 36%
Total investments and deals number
TOP 5 DEALS
2015 2016
$245M$157M
deals57 58
20162015
Despite the decline in funding amount, the amount of deals remained on the same level;
Singapore leads in invest-ment and deals amounts, remains to be a region’s leader;
Philippines and Indonesia are following the trend, together hold 1/5 of all companies funded;
Cheques are down in 2016 – growth barriers; investorsare being careful with targets.
By geography, number of companies funded
Indonesia
Thailand
Vietnam
Others
60
9
9
4
9
62%
12%
8%
6%
4%
8%
11
Philippines
Singapore
2015
2016
MomoVietnam $28M
QuoineSingapore $20M
OmiseThailand $17.5M
Funding SocietiesSingapore $12.6M
MC PaymentSingapore $8M
However all FinTech startups in SE Asiaare very early-stage and not growing fast
400+ fintechsin South East Asia
early stage(seed and Series A)
will not reacheven Series B round
because they can’t scaleand show the real results
98% 95%
6-12 months-to-market$200-400K-to-market
3 monthsNegotiation with bank
+3 monthsNegotiation with IT-depatment
+6 monthsLong & expensivedirect integrationwith bank back-end
Head of Business
Head of IT
Startup
Startup’s pain
Challenges for Fintech evolution in AsiaDifficulty to launch financial services and products in cooperationwith traditional banks
Negotiations with banks to be licenced and integrated to back-end
Direct integration to the banking back-end (pain!)
For banks: - not main KPI’s - not safe & secure - not fast & cheap & easy - do not have ability to work with many startups
Going to BaaS platform or using open APIs 80%
to businessdevelopment
in tneUS/UK
80% 20%In Asia In the US/UK
1+ year 3-6 month
Spend 80% of their resources to be launched
Spend only 20% of their resources to be launched
Asia
US / UK
In developed markets, fintechinnovations are primarily aimed at improving the user experience for tech- and financial literacy advanced people. But, for the billions around the world with-out access to traditional financial services, fintech innovationsgo well beyond convenience.Fintech could be their ticket to financial inclusiveness and membership in the global digital economy.
“
Challenges for Fintech evolution in AsiaDifficulty to scale geographically due to differences in regulations and infrastructure
In each country you have to
start from scratch:
1. New regulation2. New integrations
In Asia In the US/UK 1. Easy regulation2. Easy integrations
EUROPE
US
Unbanked markets always loose competition for attraction of attention of the best talents & startups to deploy their cutting edge technologies for somebody who really need it
“
Recognizing the importanceof financial inclusion forthe global population, various international structures are investing efforts into developing strategies for facilitatingfinancial inclusion
There are more than 20 verticals in Fintech and more than 20 leaders in each vertical(about 5K fintechs total)
How to connect?Pri
ceco
mp
aris
on
Re
mit
tan
ces
We
alth
man
age
me
nt
Trad
ing
On
line
sco
rin
g
SME
Le
nd
ing
P2
P lo
ans
On
line
len
din
gfo
r in
div
idu
als
Cro
wd
inve
stin
g
Cro
wd
fun
din
g
E-w
alle
ts
Cas
h r
eg
iste
rP
OS
solu
tio
ns
On
line
acq
uir
ing
mP
OS
Ne
ob
anks
Re
gTe
ch
Aco
un
tin
g
Insu
rTe
ch
PFM
/PFP
Blo
ckch
ain
Bit
coin
Banks’ pain: With whom to work?
OperationWho will control and develop?
How to integrate? How to invite foreign projects?
E-w
alle
ts
Ne
ob
anks
mP
OS
On
line
acq
uir
ing
Cas
h r
eg
iste
r /
PO
S so
luti
on
s
Cro
wd
fun
din
g
Cro
wd
inve
stin
g
On
line
len
din
g f
or
ind
ivid
ual
s
P2
P lo
ans
SME
Le
nd
ing O
nlin
e s
cori
ng
Trad
ing
We
alth
man
age
me
nt
Re
mit
tan
ces
Pri
ce c
om
par
iso
n
PFM
/ P
FP
Insu
rTe
ch
Re
gTe
ch
Aco
un
tin
g
Blo
ckch
ain
BusinessWho will possess clients / startups?
ValueHow to help partners to expandto other markets?
Fin
tech
sfo
r re
tail
for
SME
it is expensive it takes time it is not main business / KPI
Banks’ pain
Who needs banking infrastructure in Asia?(top-down calculation)
The best and the biggestfintech services,
Fintech startups Telecoms Large e-commerce,retail corporates
Messengersand socialnetworks
which want to expound to Asia which want to launch & scale which wants to deliver fintech servicesfor their customer base
50+ 1000 + 30+ + +300 5
USA Europe Asia Pacific
Currently existing demand from non-banks for banking infrastructure in Asia Pacific is estimated at $1-1.5B USD in 2016
Market size and opportunity:
Key challenges: how regulators and banks
will approach the Fintech industry
APAC EMEARegulation activities in Europe
Most of activities are focused on controllingand regulation of existing regimes
UK sets out open banking API frameworkAimed for the creation of an open banking standard that makes it easy to share and use financial data, arguing that the move would improve choice for customers, promote competition;#regulation #bank #UK O
pen
Ban
kin
gThe cohort of the regulatory sandbox closed 69 firms from a diverse range of sectors, geogra-phies and sizes have been accepted. 24 applications met the sandbox eligibility criteria and were accepted to develop towards testing#regulation #opportunities #UK
San
db
ox
A specially created“Fintech” licence Plans to encourage crowdfunding and the market testing of new technologies. FinTech firms, with a minimum of $300k in capital, are allowed to accept funds from clients, up to $99m, which remain outside the depositor protection scheme and are not subject to the same regulations, auditing and the capital requirements applied to banks.
#Implementation #Switzerland #EU #2016
Ban
kin
g
Standardized mobile andinternet payments (PSD2) in EU
PSD2 enables bank customers, both consumers and businesses, to use third-party providers to manage their finances. In the near future, customers may be using Facebook or Google to pay bills, making P2P transfers and analyse spending, while still having money their safely placed in current bank account.
#Announcement #Payments #Global #2017
Pay
men
ts Solvency II is a programme for insurance regimeIt introduced a new, harmonised EU-wide insurance regulatory regime. The Solvency II programme is divided into three areas, known as pillars: Financial Requirements (Capital Requirement and etc), Governance & Supervision (Own Risk & Solvency Assessment) and Reporting & Disclosure (Insurers required to publish details of the risks facing them).
#Implementation #Insurance #EU #2016
Insu
ran
ce
Controlling & Regulation
Sou
rce
: Fin
tech
ran
kin
g.c
om
Introducing a European Standard for e-InvoicingThe European Commission announced the e-invoicing directive require all 28 EU member states to use specific e-invoicing standards for all B2G e-invoices by November 27, 2018. Europe’s current e-invoicing adoption rate of 24 percent is expected to rise to 95 percent by 2024 and accrue savings of approximately 64.5 billion euros ($72 billion) per year for businesses.
#Announcement #e-invoicing #EU #2018
e-In
voic
ing
Key message
~30% banksinvested via their ownventure instruments
– VCs, accelerators, incubators
Banks are getting more and more active in FinTechBarclays, Goldman, CITI, Santander and BBVA are leading the show
Major Bank Investments to VC-backed Fintech Companies
-2015 -2016more companiesfunded by banks
in 2016
+61%
Top South-Asian banks are starting to follow Chinese/HK/Japanese/Korean megabanks
with playing active role in FinTech: DBS, OCBC, UOB, Siam Commer-cial Bank, Mandiri, RHB, MayBank, CIMB, KasikornBank and others
laucnehd a bunch of initiatives related to fintech
Leaders are mainly from developed
fintech regions
US, UK, Europe.
No
te/s
ou
rce
: So
urc
e: M
atte
rmar
k,
Life
.SR
ED
A V
C a
nal
ysis
, Cru
nch
b
23
15
13
8
3 3 3 3 32 2
1 1 1 1 1 1 1
17
97
64
6 6 5 5 54 4 4 4 4
3 3 32
1 12
1 1 1 12
Bar
clay
s
Go
ldm
an S
ach
s
Cit
i Gro
up
San
tan
de
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BB
VA
We
lls
Farg
o
Co
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erz
ban
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Mo
rgan
Sta
nle
y
HSB
C
Cre
dit
Su
isse
BN
P P
arib
as
Mit
sub
ish
i UFJ
Miz
uh
o
JP M
org
an
Cap
ital
On
e
Ch
ina
De
velo
pm
en
t B
ank
UB
S
Sbe
rban
k
Ch
ina
Co
nst
ruc
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n B
ank
Cre
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Ag
rico
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Soci
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Ge
ne
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ICIC
I
Siam
Co
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ank
OC
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however partnerships in 2016 seemed to be saferand more convenient for banks
Banks’ partnerships with financial technology start-upsare developing,
Enable Citi card members to use their Citi Cards with PayPal online, in-app and in stores
P2P payments, provides making payments via the social networks
Offering investing advice and data-driven recommendations
P2P-lending. Enables local SMEs to borrow short-term business loans
Study and test blockchain technology to enable payment transactions
Provides direct financing to SMEs
To contribute to the acceleration of the rollout of its digital strategy
Online wealth management platform
Automotive pricing and information website for car buyers and dealers
Offering its clients access to equity crowdfunding opportunities
Use Fincast to advise customers on the types of financial products they need to meet their investment goals
To offer a TD and Westpacbranded spending app
An extensive interest was shown by banks and financial institutions partnering with robo-advisors, digital wealth managers;
In addition, there is a growing tendency by banks to partner with crowdfunding companies (Santander, UOB, Belfius Bank, Alfa Bank, etc);
Asian banks are widely partnering with Fintech accelerators in order to pilot new products with fintechs residents;
Many pilots were initiated in 2016 between blockchain companies and banks worldwide(SG, SCB, Barclays, etc)
Venture/debt investments and acquisitions from banks
Q4 D N/A
Q4 A $8,3M
Q3 A $8,3M
Q3 undisclosed
Q2 A $14M
Q3 $19.67M
Q2 $33MD
Q2 $56M
Q2 D $75M
As mentioned earlier,partnerships and investments are closely linked, however, investments primarily focused on realizing returns;
Investments generally go from venture instruments of banks:VCs, accelerators, debts financing;
Asian banks are getting involvedand investing through the partnerships with accelerators(StartupBootCamp Fintech, Nest, etc.)
Q4 $100M
was all about
blockchain
saw an explosion of interest in
machine learningand artificial intelligence.
2015
2016
2017will be the year of
open marketplaces and platforms.Platforms support the rapid cycle deploymentof micro services into a financial marketplace...
As the financial world is rapidly moving to open, loosely coupled marketplaces,any bank with old legacy technology will start to look like a dinosaur
APIs and Open Banking will start to shift the banking landscape with more traction in Europe and Asia, but we’re likely to start seeing the gap between leaders and laggards widen
William Sullivan, Head of Global Financial Services Intelligence for CapGemini
The hype around banking APIs will increase, even overtaking cryptocurrencies. Major banks will launch public API platforms.
APIs are arguably one of the biggest topics in the industry.The business model for profiting as a platform is key here, and many are still struggling with it
Global regulators will embrace fintech competition and regulatory concessions …Africa will embrace APIs … financial inclusion will become a mainstream and actionable topic … and the US will embrace change in the regulatory and political system
2017 will be the year of open marketplaces and platforms
Shamir Karkal, Head of Open APIs at BBVA
David Brear, CEO and Founder of 11:FS
Chris Skinner, Author and CEO of The Finanser Ltd
Open Banking and APIs – What else …
Simon Taylor, Co-Founder of 11:FS
Bank-as-a-service is a technological platform with a suite of APIs, that integrates seamlessly with any existing back-office of traditional banks and provides for non-banks a cost-effective, easy and fast way to launch various financial products.
Bank-as-a-Service do not compete either with banks or fintech, instead it’s a ecosystem builder that connects all players of financial indsutry,provide them newrevenue streamsand products for theircustomers.
Bank-as-a-Service (BaaS): solution to address Fintech challenges in Asia
Chris Skinnerone of the TOP5 fintech-influencersand predictors, author of bestsellers
“Digital Bank” and “Value Web”,managing partner of the BB Fund in London
” You’re probably all familiar with SaaS –it’s basically paying for applications as you use them, rather than buying them. These services used to cost you a fortune, but are now free or near enough. That’s where banking is going. Banking becomes plug and play apps you stitch together to suit your business or lifestyle. There’s no logical reason why Banking shouldn’t be delivered as SaaS.
” This is the future bank, and old banks will need to reconsider their services to compete with this zero margin model.
” ...anyone in the near future would be able to build their own bank through apps, APIs and analytics.
BanksLicensed and regulatedbanking back-ends (belongs to banks in each country in Asia-Pacific region)
based on 40+ universal APIs
100+ fintech-startups
Middlewareprovide for them universal APIs
Fintech-startups do notneed to spend time,money and humanresources to be integratedin each Asian country
Banks do not need tospend their time andmoney to create newAPIs and to communicatewith all startups all over the world
Bank-as-a-service
Ecosystem
Layers of BaaS platform
“ The real impact of fintech in developed countries will be felt in the back office, where new efficiencies and technologies, and improve-ments to know-your-customer processes, have the potentialto transform some banking operations for the better.
Integration of web based FintechWidgets and native Fintech Apps throughmulti-layer Digital Banking Hub
A holistic, digital marketplacebanking ecosystem with a set of servicesfor Fintech companies to connect to andintegrate into the platform
Required audit logging, user tracking,statistics and appropriate administrationtool functionalities
Appropriate subset of APIs and commondata used by Fintech
Orchestration API for collaboration andcommunication with Fintech
Connecting Blockchain application securelyto the platform
Sustainable and extendable platform,easy to connected to different bank’score systems
Billing and charging engine
Widget based FinTech
Native FinTechApps
Banking API‘s and overall concept delivery
SuccessfulPartnership
Clearly, not all of today’s banks will survive. The survivors will be those that reimagine relationships with their customers and partners.
Fintech offers banks access to technologies, brings new ideas to market at speed,enables to add value from bank’s data and changes bank’s culture
Why banks need FinTech?Acces to ideasAcces to new technologyAcces to agility: speed to marketAcces to expertise around dataExposure to different culture
Acces to customers - trust, inertiaAcces to clearing and Central BanksettlementAcces to in-depth payments expertiseAcces to dataAvoidance of regulation
Why FinTech need banks?
Banks and Fintech. For what reason?
Key initiatives in bank-as-a-serviceand open banking areas
BAASIS, launched in 2016 in Singapore, is an open-API Bank-as-a-Service platform, aimed to connect banks and FinTech startups across Asia Pacific region. Currently is in integration phase with several banks on different markets.
In 1H 2016 was launched solarisBank, banking-as-a-platform startup with a full banking license in Germany. It provides account and transaction services, compli-ance and trust solutions, working capital financing, and online loans for fintech startups.
Bancorp – industry leading US-based largest bank-as-a-service platform, hosting 100+ non-banks with processing volume of $200+ billion USD annually. Different clients of different size, including google wallet, PayPal, T-Mobile, yodlee and others
In 4Q 2016 Citi launched global API Developer Portal aimed to open architec-ture to facilitate collaboration with FinTech companies. APIs includes account management, p2p payments, money transfer, rewards, investment purchases and account authorization.
Otkritie, the biggest privately-owned bank in Russia, through the process of integrat-ing with leading digital bank for SMEs Tochka, developed its own modern API-platform, that was later used to integrate with fintech startups, including mobile bank for retail clients Rocketbank.
In 2H 2016 BBVA launched its API market-place, aimed to offer other companies a way to leverage BBVA’s capabilities to build their services. Fintech startups has an access to such APIs as PayStats, Connect, Accounts and Cards
The UK government in 2016 has set up the Open Banking Working Group (OBWG) in order to create an open banking standard that makes it easy to share and use financial data. It includes development of open API to enable services to be built using bank and customer data
In Q4 2016 the Korean Government launched an open banking platform for financial institutions (16 banks) that will allow them to build services that automatically populate financial information for new customers. The platform will essentially serve as database of consumer financial informa-tion that is accessible via API.
In 4Q 2016 The Monetary Authority of Singapore (MAS) published 12 sets of data from MAS’ Monthly Statistical Bulletin as APIs. MAS is encouraging financial industry players to publish open APIs on their datasets, to allow users to connect information and offer innovative solutions
Startups and tech companies Banks Government initiatives
Business/Operating Model: The BBVA Story
BBVA’s leadership has reiterated its commitment to digital since 2015
But BBVA cannot simply embark on a complete redesign of its business — especially when the ideal target operating model is not clear
A good way forward in this type of scenario is to run experiments — they have invested in “beta banks” across the globe in markets not primary to them
Aimed to find the optimal operating model that could potentially be at the core of the new BBVA
Following the investment in Simple in 2014 they have invested in Atom in the UK and Holvi in Finland
They are all very innovative approach — superb CX focus, based in markets where theydo not compete with an established BBVA entity
For BBVA this is a well-hedged gamble: invest a few hundred million dollars to get a well-tested,blueprint of the bank of the future
India
Sri Lanka
Bangladesh
Myanmar
Malaysia
Philippines
Indonesia
Australia
South
Korea
North
Korea
Thailand
Hong Kong
Laos
Cambodia
Singapore
Taiwan
Japan
Bhutan
SME-lendin
& FactoriPOS-management
systems &
tablet based
cash-registers
Online
acquiri
Online-tra
ding
Online-
lending
P2B-lending
Crowdlending&
Crowdinvesting
Online-
remittances
PFM&PFP
mPOS-acquiring
Online-lending
for students
It enables banks to evolveand vital for fintechs as a helperin overcoming regulatory barriersas well as optimizes timeand money consumption beforegoing to market.
is very necessary for the futurefintech development
First BaaS-platform for Asia
APACSouth Korea permits for banks to invest in FintechsCurrently financial laws, financial institutions are allowed to buy stakes only from companies in the same business sector. The FSC have included fintech companies in the scope of the financial industry. #banks #2016
Sou
th K
ore
a
MAS establishesa dedicated Fintech OfficeMAS and the National Research Foundation opened a dedicated FinTech Office to serve as a one-stop virtual entity for all FinTech matters and to promote Singapore as a FinTech hub. #opportunity
Sin
gap
ore
MAS establisheda regulatory sandbox.To allow more flexible application of the regula-tions, while maintaining safeguards to protect consumers and the wider financial system.
Sin
gap
ore Financial Sector Technology
& Innovation schemeMAS committed $225M ($166.48M USD) under the “FSTI” scheme to provide support for the creation of a vibrant ecosystem for innovation. Si
ng
apo
re
6 P2P Lending Licenses Granted in MalaysiaSix P2P lending licenses were granted in Malaysia recently, making them the first authorized platforms in the ASEAN region.
#p2p lending #license #2016
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Korea has launcheda platform for banksThe platform allows financial institutions to build services that automatically populate financial information for new customers.#banking #2016 H
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gHong Kong to launchbanking fintech 'sandbox'
Ho
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ngHong Kong establishes
a Facilitation OfficeHK Monetary Authority established the FinTech Facilitation Office to facilitate the healthy develop-ment of the FinTech ecosystem in Hong Kong and to promote Hong Kong as a FinTech hub in Asia.
#opportunity #2016
P2P Firms Regulationin Indonesia The draft regulation proposed that a Fintech company is required to have Rp. 2 billion in working capital and is required to show Rp. 2.5 billion applying for a business license.
To help maintain Hong Kong's competitiveness asa financial hub by supporting the development of fintech in the banking sector
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Malaysia issues the Fintech Regulatory Sandbox To experiment with FinTech solutions in a live controlled environment which is accompanied by the appropriate safeguards
#opportunity
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Establishing an infrastructure
Regulation activities in the APAC and AsiaMost of activities are focused on establishingan early stage infrastructure and development
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Key message
Traditionalbank
Servers
IT-guys to supportand manage servers
- complience- processing center
- card issuing- money storage
You may write off infrastructure investments or use them as new revenue streams
human resources
support
marketing
product
customers
Amazon’s profitcomes from AWS!
67%
2015
Creation of AWS for new players
2006
License
New fintechplayers
To fight with or to earn with
?
BaaS for banks as Amazon Web Services for e-commerce
www.fintech-research.com