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Trusting Social winner of Innotribe Startup Challenge in Singapore

Trusting Social winner of Innotribe Startup Challenge in Singapore | Disruptive Finance and Fintech | Scoop.it
Finextra: The Innotribe Startup Challenge attendees selected the five finalists from the Asian leg of the Startup Challenge to compete at Sibos Singapore in October.
Huy Nguyen Trieu's insight:

Delighted to see Trusting Social being recognised by Innotribe in Singapore (Disclaimer : I am on their advisory board). Trusting Social's mission is to crack the challenges of credit scoring in emerging markets, where there is no system like FICO in the US. WIthout credit scoring, it's very difficult to have a robust eco-system for consumer lending, and that's what they are trying to do not only through social data, but also mobile data and other. 


They are still very early stage, but are having huge traction, which shows that there is a real need for this kind of solutions. 


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Minhaz Anwar's curator insight, June 7, 2015 5:22 AM

FinTech is an area where startups from Bangladesh and Asia could focus on NOW!

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Do you need grey hair in Fintech?

Do you need grey hair in Fintech? | Disruptive Finance and Fintech | Scoop.it
Jerry Weiss, 57, who managed credit risks at some of the nation’s biggest banks, now works with people half his age who make fun of his “dad jeans.”
Huy Nguyen Trieu's insight:

A very interesting read and a question that comes back often in Fintech. What is the value of experience (in finance) in a Fintech startup? Some great Fintech startups were founded by entrepreneurs who had no financial backgrounds at all, is it a problem ? Or is it an advantage to start with a financial background?


I'm convinced that whether the founder has an experience in finance or not, Fintech startups need people who have had the experience of different cycles. 


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Artificial Intelligence is coming to finance. Slowly…

Artificial Intelligence is coming to finance. Slowly… | Disruptive Finance and Fintech | Scoop.it

An article I wrote for Financial News about Artificial Intelligence

"Meet Cortana, who has the talent to be the best trader in the world… But because her dad is Microsoft and her intelligence is artificial, human traders are not paying attention - but they should…"

Huy Nguyen Trieu's insight:

And it's very very slow indeed… But no doubt that it will be coming...


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Why did Northwestern Mutual pay $250m for Learnvest ?

Why did Northwestern Mutual pay $250m for Learnvest ? | Disruptive Finance and Fintech | Scoop.it
Why Northwestern Mutual spent a bundle to link up with LearnVest - With $2.7 billion in cash to burn after the Russell Investments spin-off, the Milwaukee-based company was simply an old-line insurer with desktop software in search of a planning pedigree
Huy Nguyen Trieu's insight:

When I saw the acquisition of Learnvest by Northwestern, it made me think of the BBVA/Simple deal. It seems like the rationale is very similar: large incumbent acquiring a lean startup  to try to foster innovation in its own organisation. In both cases, the acquisition is more about the product and the culture than the client base. 


If we think about it, the amounts are very high (100m for Simple, 250m for Learnvest), i.e. someone at the corporate level thought that it would be more efficient to acquire a startup than try to build a new product and change the culture internally. Food for thought...


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Fintech in hedge funds: Eric Schmidt Buys 20% Stake In Quant Hedge Fund DE Shaw

Fintech in hedge funds: Eric Schmidt Buys 20% Stake In Quant Hedge Fund DE Shaw | Disruptive Finance and Fintech | Scoop.it
Eric Schmidt, Google’s billionaire chairman, has purchased a 20% stake in DE Shaw, the big quantitative hedge fund firm founded by billionaire David Shaw. Schmidt’s family office, Hillspire LLC, scooped up the stake from the estate of Lehman Brothers, which purchased the stake for some $750 million before the investment bank [...]
Huy Nguyen Trieu's insight:

Hedge funds are seen as being at the top of innovation, but most of them are actually quite conservative and use methodologies that haven't really changed over the years : long-short, event-driven, etc. 


My view is that disruption - in the form of using big data, machine learning, AI, etc. -  will come to hedge funds. We've seen Bridgewater and Point72 investing in AI, now this investment from Eric Schmidt (although a personal investment, not Google's) is definitely interesting. 


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After Challenger Banks, now Challenger Insurers? Oscar valued at $1.5bn

After Challenger Banks, now Challenger Insurers? Oscar valued at $1.5bn | Disruptive Finance and Fintech | Scoop.it

Sixteen months after going live, the insurance company Oscar has joined the elite group of start-ups known as unicorns, or those with billion-dollar valuations.

The company plans to announce on Monday that it has raised $145 million from a group led by the billionaire Peter Thiel and his Founders Fund venture capital firm. Other investors in the round included the Hong Kong billionaire Li Ka-shing’s Horizon Ventures, the Wellington Management Company and Goldman Sachs.

Huy Nguyen Trieu's insight:

Very interesting read by NYT. A lot of challenger banks have launched during the last few years in the UK - my guess is that there are still a few dozens in the starting block -  with the first IPOs starting already (Aldermore, Shawbrook). Some have very innovative business models (Fidor for example) and all want to offer banking in a more user-friendly way, cheaper and with modern IT. 


If you can do it in a regulated environment like banking, why wouldn't you do it in insurance ? At the moment, there hasn't been many challenger insurers yet, but no doubt that more are coming after Oscar. 


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Mapping fintech investments in Europe (and the Middle East)

Mapping fintech investments in Europe (and the Middle East) | Disruptive Finance and Fintech | Scoop.it
Financial News this week published a special issue of its fintech magazine, Fintech News, assessing the opportunities and challenges facing the industry in
Huy Nguyen Trieu's insight:

The reports of Anna Irrera are always very insightful - this one is no exception. The map confirms the intuition that the UK is clearly first in Fintech, but a lot happening in Germany/France/Holland/Sweden. It seems that Fintech can be seen as just another sector of tech startups in general, and where startups are thriving, Fintech is booming too. 


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Peer-to-peer lenders can’t find enough borrowers

Peer-to-peer lenders can’t find enough borrowers | Disruptive Finance and Fintech | Scoop.it
Wall Street has flooded peer-to-peer lenders with cash—and there aren't enough takers.
Huy Nguyen Trieu's insight:

The feedback from p2p platforms is indeed that the bottleneck is more on the borrower side than on the lender side. In a low rate environment, a lot of money is chasing too few opportunities. 


Which reminds me that some people think that the main risk for p2p platforms is a rising rate environment (as rates rise, the spread between lending and borrowing rates narrow, making p2p lending harder), but a low rate environment will also put pressure on p2p lenders : banks will cut their margins because their lending activity is still more profitable than investing in government bonds, and suddenly the rates of bank loans might start to be comparable to p2p rates. Which explains why getting borrowers - at a reasonable cost - is now the critical priority for p2p lenders


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Denmark is focusing on specialized building blocks for Fintech

Denmark is focusing on specialized building blocks for Fintech | Disruptive Finance and Fintech | Scoop.it
Denmark has established  Copenhagen Fintech Innovation and Research (CFIR), a business cluster for fintech which states that Denmark aims to establish a specialized fintech cluster based on a combi...
Huy Nguyen Trieu's insight:

Discovered the blog of Christoffer Hernaes not that long ago, and find it very insightful. He is based in Oslo, and has therefore a terrific view of the Fintech landscape in the Nordics. 


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How to eat a banker’s lunch | FT Alphaville

How to eat a banker’s lunch | FT Alphaville | Disruptive Finance and Fintech | Scoop.it
Bruce Packard over at the Lafferty group has an upcoming report on the fintech disruption that's about to hit the traditional banking sector.

As he notes, most of the corporations vying for a slice of the action don't look much like traditional banks and many don't even have banking licenses. But they do offer substitute products that have the potential, he says, to harm bank margins.

In Packard's view, even though new entrants have been trying to disrupt old banks since the 90s, banks find themselves in a vulnerable position today because their opaque price structures and overall reliance on cross-subsidisation techniques don't necessarily do them any favours when it comes to defending market share.
Huy Nguyen Trieu's insight:

Very interesting article from Izabella Kaminska in FT Alphaville - who always shows a very healthy skepticism. The table from Lafferty with the list of disruptors is a good idea (although we can of course always argue about the names), the extrapolated revenue growth seems very biased (any startup should of course grow faster than Barclays…). 


The point about Transferwise is totally valid (is it just a big marketing machine?) although I wouldn't be as sanguine as her. Even if it was, I think there is a merit to have a lean and mean marketing machine, with a low cost infrastructure. Because that would be enough to seriously undermine the business of traditional players. 


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Ripple Labs makes international money transfers without correspondant banks

Ripple Labs makes international money transfers without correspondant banks | Disruptive Finance and Fintech | Scoop.it

Ripple Labs, whose bitcoin-inspired payments network allows institutions to conduct low-cost international money transfers without the intermediation of large Wall Street banks, has signed its first two U.S. banks as customers.

Huy Nguyen Trieu's insight:

I keep hearing very good things about Ripple and how they are putting in place a lean architecture for money transfer (in the same decentralised way as the blockchain). I don't know enough about them to have a view on their technology, but it's definitely a solution to follow. 


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Fintech is coming to Asia. Fast.

Fintech is coming to Asia. Fast. | Disruptive Finance and Fintech | Scoop.it
In the same way that we could feel the emergence of Fintech in London a few years ago, we can detect a similar trend coming from Asia today.

Remember that only 3 years ago there might have been less than 100 Fintech startups in London - whereas there might be 10 times that amount today. Are we ...
Huy Nguyen Trieu's insight:

Very exciting to see what's happening in Asia - and also how different it can be from Europe or the US.


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Microsoft correctly predicted the top Oscars winners - what does it mean for finance?

Microsoft’s Bing predictions engine has been responsible for predicting the World Cup, English soccer results, and NFL games, but last night it turned its attention to the 87th Academy Awards. Bing...

Huy Nguyen Trieu's insight:

I follow Microsoft's exploits in predictions with great interest. After predicting 15 out of 16 games in the World Cup (better than Paul the Octopus!), this is another example of how computers are getting exponentially better at predictions.Most areas in finance (trading / asset management / hedge funds, etc.) are still very far from using these technologies, and there might be a real first-mover advantage there...


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Where are the disruptors? 1. Mobility 2. Fintech and Insurtech

Huy Nguyen Trieu's insight:

Great reading that shows that there is a lot of investment going into Fintech and Insurtech. (please note the trends for Insurtech, not just FIntech). And also split between US and Europe, with of course most of the investments still in the US. 


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Fintech startups: compete or collaborate with traditional finance?

Fintech startups: compete or collaborate with traditional finance? | Disruptive Finance and Fintech | Scoop.it
Consider these two statements :

"The party's over, for the banks at least" (Transferwise)

"Today we are announcing an exciting new partnership with Santander UK, …" (Funding Circle)

These statements were made by Transferwise and Funding Circle, two very well known Fintech startups. Both were created a few years ago, both are Unicorns (i.e.valued more than $1bn..) and both ...
Huy Nguyen Trieu's insight:

Deciding on their go to market strategies is crucial for startups. For startups in Fintech, they will have to think of their position in the eco-system. Join the discussion on June 9th if you'd like to know more...


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Game Changer for Fintech: Goldman Sachs pulls the trigger

Game Changer for Fintech: Goldman Sachs pulls the trigger | Disruptive Finance and Fintech | Scoop.it
If you liked "Invest in the Disruptors", you will love "Disrupt the Disruptors"...

Goldman Sachs has been a very active investor in Fintech (and Tech in general), with the latest investment in Circle (Bitcoin), but also CompareAsiaGroup (Comparison website for financial services), Oscar (Challenger Insurance) or Kensho (Data analytics for finance) for example.

But what caught my ...
Huy Nguyen Trieu's insight:

Goldman Sachs first major bank to pull the trigger. This will have a major impact on the strategy of banks... 


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The 10 Influencers in London FinTech you need to know

The 10 Influencers in London FinTech you need to know | Disruptive Finance and Fintech | Scoop.it

There's no question that the UK is host to some of fintech's brightest stars, startups, and emergent leaders. Whether you're a seasoned finance professional or looking to make the leap into this exc...

Huy Nguyen Trieu's insight:

Delighted to be mentioned and that people are reading Disruptive Finance...


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Is there still potential in comparison websites ? Yes !

Is there still potential in comparison websites ? Yes ! | Disruptive Finance and Fintech | Scoop.it
CompareAsiaGroup, founded by fin-tech investor Nova Founders Capital and Gerald Eder, says it is targetting an estimated US$52 billion market
Huy Nguyen Trieu's insight:

I see a lot of very complex and advanced startups in Fintech, but as someone who's been through that path, simple is sometimes not that bad.

Talk about websites that compare financial products (insurance, mortgage, credit cards, etc) and most entrepreneurs will be yawning. After all, they've been around for 15 years already ... Doesn't mean there is no opportunity though, look at what's happening in Asia with CompareAsiaGroup that just raised $40m...


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Investing Early On for Insights, Not Profits

Investing Early On for Insights, Not Profits | Disruptive Finance and Fintech | Scoop.it
BBVA, the global Spanish bank, has established a venture capital fund in Silicon Valley that is more interested in fruitful partnerships than profits.
Huy Nguyen Trieu's insight:

Good read about BBVA that has been a very pro-active player in innovation and made a lot of noise with the acquisition of Simple. This is clearly an approach that many are observing with great interest - what can a large established bank achieve by working with nimble startups ? Can it yield more than just homeopathic results and truly transform a bank ? This is clearly a fascinating experience to follow. 


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Disruption coming to insurance

Disruption coming to insurance | Disruptive Finance and Fintech | Scoop.it
By Rick Huckstep To answer this question, I skyped with Max Steinmetz earlier this week. Max is the CEO of German InsuranceTech startup, RiskEraser. A week
Huy Nguyen Trieu's insight:

Very good example of innovation in insurance space. Following the latest social developments (e.g. the sharing economy in that case) and developing insurance or banking products to this target segment is not a bad idea either...


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China to Require $4.83 Million Capital for P2P Groups

China to Require $4.83 Million Capital for P2P Groups | Disruptive Finance and Fintech | Scoop.it
The China Banking Regulatory Commission plans to set 30 million yuan ($4.83 million) as registered capital for the peer-to-peer lending industry. This is among the rules drafted by the Financial Inclusion Affairs Department at the CBRC for the growing peer-to-peer lending industry as the country aims to regulate the sector.
Huy Nguyen Trieu's insight:

Very interesting article about p2p in China (thank you @FintechHK!). 

I had heard that a lot of platforms went into trouble last year because the high level of defaults put too much strain on the business model of p2p (not enough resources for recovery of bad debt for example), and it seems that it was indeed the case. 


The regulator wants therefore to clean the sector and asks for capital - just like for a bank. Note the amount which is very high and would discourage many startups. 


Is there something else specific to the Chinese p2p market ? Would welcome any insights...


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Fintech opportunity: accounting and tax

Fintech opportunity: accounting and tax | Disruptive Finance and Fintech | Scoop.it
Chancellor promises to abolish annual tax returns for millions - a major IT undertaking
Huy Nguyen Trieu's insight:

Accounting and tax are not necessarily big areas of investment for Fintech (although there are huge success stories, like Intuit or Xero for example), but this announcement shows that the digitalisation of tax and accounting is just a one way street. Also, think of all possible applications around this (savings products, investment products, etc. based on real-time data). 


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6 Reasons why Artificial Intelligence is skyrocketing – and will grow even faster

6 Reasons why Artificial Intelligence is skyrocketing – and will grow even faster | Disruptive Finance and Fintech | Scoop.it

I was talking to a bot. And I didn't realise it. I thought it was a real person.

We all experience these defining moments, where there was a "before" and there is an "after". This was such a moment for me, when I realised that AI has gone very far indeed.

Of course, we all realise that ...

Huy Nguyen Trieu's insight:

My view is that AI will continue to grow very fast - much faster than what we have experienced until now

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Dagmawi hailu's curator insight, March 27, 2015 5:30 AM

Six main reasons to why AI development is increasing. Thanks to cheap computing power, big data and better algorithms are some of the reasons given as to why the rise in the development and interest of AI in recent times.

Ric Fry's curator insight, March 27, 2015 8:13 AM

With developments in computing power, the open access to multiple programming platforms, the wealth of information on the internet, improved algorithms , methodologies, and interest in the field, A.I. development is set to improve at an impressive rate. The author also invites further speculation on two other main points in regards to A.I : how machine learning makes drives humans to be smarter, and how to make good ethical use of A.I. . These, I feel, are amongst the two most important issues surrounding A.I at the moment. Where is the ethical logic in developing something that is not driving humanity to do better? Where is the logic in developing A.I. that people can use to suppress humanity itself?

 

Brock Nicholls's curator insight, March 27, 2015 9:44 AM


Trieu, H.N (March 18, 2015). 6 Reasons why Artificial Intelligence is Skyrocketing – and Will Grow Even Faster. Disruptive Finance.

http://www.disruptivefinance.co.uk/?p=403


This source discusses the reasoning for the current growth of AI (last 10 years) and the reasoning for why this growth won’t stop but will continue to explode. This is important as it allows us to understand what is actually happening and the factors involved in why this technology is growing. 

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Hybrid funding through VC and the crowd

Hybrid funding through VC and the crowd | Disruptive Finance and Fintech | Scoop.it
Different kinds of investors bring different kinds of value to the table.
Huy Nguyen Trieu's insight:

Interesting to see how crowdfunding platforms are changing investments in startups. Until recently, it felt that "traditional" startups would go find money from angels and very quickly VCs, whereas crowdfunding was reserved for startups that either wanted to leverage on a certain customer base or found the VC route challenging. 


Read with great interest this story about a startup that raises money both from Index and through Crowdcube. Which raises 2 interesting issues: how, as an entrepreneur, do you manage this hybrid process ? and what does it mean for VCs ?


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List of the top 130 startups in Fintech

List of the top 130 startups in Fintech | Disruptive Finance and Fintech | Scoop.it

Did you know that there are more than 1,000 Fintech startups?

Huy Nguyen Trieu's insight:

A good start to know who's who amongst the Fintech startups...


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