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UK pensions can invest in p2p lending

UK pensions can invest in p2p lending | Disruptive Finance and Fintech | Scoop.it
Personal pension owners can now invest in peer-to-peer lending through a partnership struck between p2p platform ThinCats, a pension provider and financial portal SippClub. The new venture enables self-invested personal pensions (Sipps) to include
Huy Nguyen Trieu's insight:

First p2p platform to be invested in a SIPP (i.e. an individual pension wrapper in the UK). Although both the platform and the SIPP provider are small, it's interesting to see that p2p lenders are trying to get more credibility and want to be part of the mainstream investment offering. So far, banks do not consider p2p lending as competition, but neither asset managers - which are the main SIPP investment products. 

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MIT Bitcoin Competition

MIT Bitcoin Competition | Disruptive Finance and Fintech | Scoop.it
MIT Bitcoin Project official event page
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I already mentioned the MIT Bitcoin Project - with 5,000 MIT undergrads each receiving $100 in Bitcoins and see what comes out of it. Bitcomp is a competition this summer that will reward the best Bitcoin projects from MIT students and alumni. So far, I'm still convinced that Bitcoin will not necessarily lead to a new currency, but can lead to great improvements in payments. 

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Vodafone plans to move Silicon Valley innovation centre to London - FT.com

Vodafone plans to move Silicon Valley innovation centre to London - FT.com | Disruptive Finance and Fintech | Scoop.it
Vodafone will move its product innovation and development team out of Silicon Valley to establish a centre in London, reversing the long-term migration of technology talent and ideas to the West Coast hub. European politicians have warned about the
Huy Nguyen Trieu's insight:

I mentioned previously the momentum behind London as an innovation capital, and this is another example. Clearly, London is no Silicon Valley, but in Fintech and Disruptive Finance, it has the very good mix of tech/finance and regulation

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London is the best city in the world...

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… according to PWC that compared 30 cities in the world. It's the first time that London ranks number 1 - it was NY before. I am not surprised - I used to live in NY and was always amazed by the energy of the city and how people came to NY for better opportunities. I have felt the same drive and energy in London the last 3 years. 

 

Also, London is ranked number 1 for technology,  and that's true that the number of startups and entrepreneurs is now staggering. 

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Where is the stock market going ?

Where is the stock market going ? | Disruptive Finance and Fintech | Scoop.it
If you remember my previous post about the opportunities in Fintech, I used a graph to show that there is a risk for markets to go down - and therefore to adopt a certain investment strategy in Fintech.

Disruptive Finance is a blog about the impact of technology on finance - and not a blog about ...
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My latest blog about the stock market and what it means for investor/entrepreneur in Fintech

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Where are entrepreneurs in Fintech ?

Where are entrepreneurs in Fintech ? | Disruptive Finance and Fintech | Scoop.it
The wave of fintech startups seeking to change the way big banks and consumers carry out financial tasks continues to gain momentum. Over the past year, yo
Huy Nguyen Trieu's insight:

A very interesting article from Financial News (based on a bubble chart of Innotribe) that shows where Fintech entrepreneurs are focusing on. The sizes of the bubbles seem right (compared with the general interest in the market), although payments seem very small (vs. both interest and market opportunity). 

 

If I had the time, would love to compare that to the sizes of the respective markets - but I won't, so tell me if you do the research !

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FT interviews Kickstarter 's founder

FT interviews Kickstarter 's founder | Disruptive Finance and Fintech | Scoop.it

On the roof of London’s fashionable Shoreditch House, a near-miracle: it is warm enough, in the middle of April, to swim in the private club’s outdoor pool.

Huy Nguyen Trieu's insight:

Seems like the FT Weekend likes Fintech... After the interview of Stripe a few weeks ago, this time it's Kickstarter. You know I'm not convinced by crowdfunding as a substitute of venture capital, but I think that "reward crowdfunding" like Kickstarter is revolutionary. A lot of businesses that wouldn't have existed can now start through crowdfunding. And huge potential for large corps to test their new products.

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Bitcoin Breakthroughs Studied by Banks

Bitcoin Breakthroughs Studied by Banks | Disruptive Finance and Fintech | Scoop.it
While Jamie Dimon and Warren Buffett express doubts about bitcoin, executives running the financial industry’s back offices are looking at mimicking the virtual currency’s methods of moving money quickly and cheaply.
Huy Nguyen Trieu's insight:

I wrote in a previous blog that I didn't think that Bitcoin would work as a currency, but that its distributed architecture could lead to better ways to make payments. This Bloomberg article looks at some of these ideas - I don't think it will be easy though, and some of the best implementations could very well come from the MIT Bitcoin project. 

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Inc Magazine : Should You Crowdfund Your Next Business?

Inc Magazine : Should You Crowdfund Your Next Business? | Disruptive Finance and Fintech | Scoop.it
After years of painstaking battles, the government is about to lift the ban on securities crowdfunding for startups. But this may not be the big breakthrough the crowd was cheering for.
Huy Nguyen Trieu's insight:

I like the models of reward crowdfunding (e.g. people buy in advance a product that hasn't been produced yet) and p2p lending, I am not convinced by equity crowdfunding (i.e. everyone can be his own VC). Many reasons on why it wouldn't work : VC market is small, difficult for non-professional to stomach the risk/reward, reward well deferred in the future, etc. A very good article from Inc. that looks at these issues.

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LendUp Raises $50 Million To Disrupt Payday Lending

LendUp Raises $50 Million To Disrupt Payday Lending | Disruptive Finance and Fintech | Scoop.it
Y Combinator-incubated payday loan disruptor LendUp has raised a $50 million credit debt facility from Victory Park Capital. This adds to the $18 million in..
Huy Nguyen Trieu's insight:

Another online lender raises debt financing. Interesting to see a few trends emerging in lending : 1) p2p (Lending Club, Prosper, Zopa, etc.) 2) p2b (mainly UK today, such as Funding Circle, or Assetz),  3) Data (quant?) SME lending (Kabbage, Ondeck, etc.), 4) Data payday lending (LendUp, Wonga, etc.). 

 

So, really 2 different angles to differentiate from banks : 1) Disintermediation to connect directly lender and borrower or 2) Use of real-time/social data for credit assessment

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Can An iPhone Replace Your Wallet?

Can An iPhone Replace Your Wallet? | Disruptive Finance and Fintech | Scoop.it
To see how has digital payments have progressed in the real world, I conducted a little experiment--I left my wallet at home to see how far I could get with just an iPhone.
Huy Nguyen Trieu's insight:

Enjoyable read from a Forbes' writer who tried to live without his wallet. Good news for startups is that there's still a lot of potential in the payment space !

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Risk Magazine writes about P2P Lending

Risk Magazine writes about P2P Lending | Disruptive Finance and Fintech | Scoop.it
The UK’s Financial Conduct Authority has taken on responsibility for the country’s peer-to-peer business lenders – a sector that has a similar risk profile...
Huy Nguyen Trieu's insight:

Interesting article about peer to peer lending in the UK. What is the most interesting though is that it appears in Risk Magazine. They usually write very detailed articles on topics such as models, pricing, counterparty risk, etc. - things that are usually important to market professionals. It was therefore a bit of a surprise to see them write about p2p lending - which shows the impact that p2p finance is starting to have. 

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Vodafone launches M-Pesa in India

Vodafone launches M-Pesa in India | Disruptive Finance and Fintech | Scoop.it
Huy Nguyen Trieu's insight:

M-Pesa, the payment/account offering from Vodafone was a huge success in Kenya (more accounts than all local banks combined). They are launching it in partnership with ICICI Bank in India, i.e. a model different from Kenya. Difference with Kenya is that a bank account is required (e.g. to withdraw money), which is a limitation in a country with a high proportion of unbanked.

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Intuit looks more and more like a bank...

Intuit looks more and more like a bank... | Disruptive Finance and Fintech | Scoop.it
Check s technology, with Intuit s marketing budget behind it, could shape consumers expectations of bill pay through their financial institutions and inspire entrepreneurs to cook up similar software to disintermediate banks.
Huy Nguyen Trieu's insight:

Intuit acquires Check, a mobile bill payment company. They already acquired Mint (account consolidation) and others before. They are slowly starting to recreate some of the offerings of a bank, but start from the customer's data. I don't think their goal is to create a bank, but they are definitely picking and choosing some of the parts. Intuit is definitely an interesting company to monitor

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Free instant mobile to mobile payments

Free instant mobile to mobile payments | Disruptive Finance and Fintech | Scoop.it
There are a number of reasons why Paym should provide users with a mobile payments solution that inspires more confidence than the likes of tap-and-go, and credit card readers, says Dan Hartveld
Huy Nguyen Trieu's insight:

… And it's not coming from the usual suspects like Google Wallet, Square, Paypal, etc… but from a consortium of UK banks. 400,000 users in 1 month is not bad. My guess is that very soon, most UK retail users will use it - in the same way as most use the online version already. Payments will be a very hot area between incumbents and new entrants, and the battle is far from won either way. 

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Cashless Customers Hold Riches for Retailers

Cashless Customers Hold Riches for Retailers | Disruptive Finance and Fintech | Scoop.it

A hacking of customer data at Target has intensified the pace of changing the way Americans pay for goods.

Huy Nguyen Trieu's insight:

Good summary of the stakes around payments at the point of sale - and how new entrants are trying to bypass Visa and Mastercard

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Square : we could be profitable tomorrow...

Square : we could be profitable tomorrow... | Disruptive Finance and Fintech | Scoop.it
Contrary to reports, the payments company has healthy margins. It's just spending that money on further growth.
Huy Nguyen Trieu's insight:

Very interesting article about the metrics of Square. Since Square is a private company, and these are not official numbers, it's difficult to get the full picture. Here is what the article mentions : $30bn of transactions processed, 1% of gross margin, i.e. $300m of gross margin. This looks very high for me (my view was more around $15/20bn transactions, and much less than 1%), but if it is the case, then that would be interesting.

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What's best between Paypal, Google Wallet, Square and Venmo ?

What's best between Paypal, Google Wallet, Square and Venmo ? | Disruptive Finance and Fintech | Scoop.it
Forget the cash or check, email or message money to a friend with just a few taps. Services let you send cash—and even publicly share your latest transactions
Huy Nguyen Trieu's insight:

The payment space is very hot - and for good reasons, it's between $300bn and $1tn of revenues depending on how you count. There are myriads of applications (paying businesses, p2p payments, remittance, etc.). 

 

This article compares 4 well known mobile p2p payment apps and gives a good summary of the fees applicable. The fees are not cheap because they have to build on top of interchange fees (for credit cards). For p2p payments, my view is that a model like Paym in the UK is the most efficient (instantaneous and free) but you need to have the existing banking infrastructure - which does not exist in the US for example. 

 

For the US, it's not clear that building on top of existing infrastructure is the best solution. Other solutions could be "a la bitcoin" (Ripple) or "I create my own network" (Dwolla). Obviously, more disruptive, and more risky...

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List of Fintech companies

List of Fintech companies | Disruptive Finance and Fintech | Scoop.it
At this time, I am tracking 440 FinTech companies across 15 categories, with a combined funding amount of $7.47B. These are relatively new companies that either serve existing pieces of the financi...
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Just discovered this very impressive work that lists most of the Fintech companies.... Very good reference to keep
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Motif investing raises $35m from JP Morgan and others

Motif investing raises $35m from JP Morgan and others | Disruptive Finance and Fintech | Scoop.it
The $35 million investment by JPMorgan Chase and other firms is a vote of confidence in Motif Investing, an upstart online broker that lets investors buy a basket of stocks centered on a theme.
Huy Nguyen Trieu's insight:

A flurry of investment in the next generation of online brokers. Betterment, Wealthfront, Learnvest and now Motif all raised around $30m since March. Different business models (passive vs. active), but all quite interesting.

 

This will be a very intense competition because a lot of money has been invested in that field, and the only metrics that count will be Asset Under Management - my back of the envelope calculation shows that they would need to be $100bn+ to be considered a success (i.e. top 200 asset manager)

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Loans That Avoid Banks? Maybe Not

Loans That Avoid Banks? Maybe Not | Disruptive Finance and Fintech | Scoop.it
Peer-to-peer finance has a new swarm of lenders: some of the same kinds of big institutions it once shunned.
Huy Nguyen Trieu's insight:

Lending Club and Prosper dominate p2p lending in the US. This article is a very good summary of what has happened lately in that space - with much more institutional investors driving up demand. If p2p lending slowly moving towards a model of bank disintermediation, but without the second p, and only with institutional investors ? So instead of institutional investor lends to bank that lends to individuals (current mode) or individual lends to individual (p2p), we'll have institutional investor lends to individual directly ?

 

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MIT launches the Bitcoin project !

MIT launches the Bitcoin project ! | Disruptive Finance and Fintech | Scoop.it
Huy Nguyen Trieu's insight:

Each MIT undergrad will receive $100 in Bitcoin. Then, it's up to the students to come up with ideas - that's a great idea !

 

Let's remember that the Internet started with Arpanet that was developed through US universities. I still think that the major application of Bitcoin is not necessarily as a currency, but as an infrastructure for payment. If there's a way, I'm sure MIT students will find it...

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The payment revolution starts in the UK

The payment revolution starts in the UK | Disruptive Finance and Fintech | Scoop.it
From 29 April you can use your mobile to make person-to-person payments. As phones with debit-card style chips are planned, cash, plastic, even wallets could be redundant
Huy Nguyen Trieu's insight:

This is a VERY good summary by the Guardian of the next roll outs for mobile payments by banks and telcos in the UK. If implemented correctly, it means that : p2p payments through mobile phones will be free (for individuals) and handled by banks. If you don't live in the UK, there is a payment system called Faster Payment (free, allows almost immediate transfer from person to person, usually online/phone) which is very widely used/

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The black economy and the internet age - FT.com

The black economy and the internet age - FT.com | Disruptive Finance and Fintech | Scoop.it
When you read this I will have just returned from a rather gorgeous few days in Madrid. I stayed with nice friends in a house that they neither own, nor rent. So how did they get it? They swapped. As we meandered around the gardens and wondered if
Huy Nguyen Trieu's insight:

Very interesting article about what is - in my opinion - the biggest issue of the disintermediation trend. The business model of many startups is to disintermediate - hotels, taxis, banks, insurance, headhunters, you name it - which pose the social, moral, legal and regulatory question of : who is responsible ? 

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FinTech Mentor Huy Nguyen Trieu shares his views on new opportunities in the FinTech space

FinTech Mentor Huy Nguyen Trieu shares his views on new opportunities in the FinTech space | Disruptive Finance and Fintech | Scoop.it
Huy Nguyen Trieu's insight:

Article I wrote for StartupBootCamp where I mentor startups in Fintech and Disruptive Finance. SBC is a very impressive accelerator in 7 cities, with the one in London specialized in FIntech. 

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