This guy is quickly but quietly building Sweden’s next fintech giant
Johan Tjärnberg is quietly building a fintech business that may prove as successful as Klarna. During 2016, his payments company, Bambora, grew 20% to revenues of SEK 2 billion. “Sales will increase even more this year, by as much as 30%, and we’ve been profitable from the start,” Johan Tjärnberg told Breakit. Bambora is a platform that aggregates hundreds of payments services, and it’s currently available in 65 markets. Bambora’s clients can even choose to use Klarna as their payment service. During 2017 the business will expand to North America, where the number of merchants using the service will increase by 10,000 over the year. That will boost the sales […]
Lockheed Martin bets on blockchain for cybersecurity
Lockheed Martin has contracted Guardtime Federal to provide blockchain cyber security, the defense company announced in a blog post. It’s the first US defense contractor to adopt blockchain as part of its security approach and Lockheed Martin says the partnership will allow it to “realize more efficient and secure software development and supply chain risk management.” A blockchain is a type of secure database that maintains a constantly expanding list of records. Each record, or block, contains a link to a previous block. This makes them inherently resistant to modification by outside sources. “These new cyber security approaches will enhance data integrity, speed problem discovery and mitigation,” said Ron Bessire, […]
Robo Advice: Better Than No Advice?
The proliferation of Robo-Advisors bringing low priced financial services out into the market has received significant buzz over the past few years. As is customary with all new things, one must ask questions before buying into it. As a Certified Financial Planner, my question is: Does Robo Advice have true value to the average consumer? My answer: A definitive “maybe.” The road to good advice lies in a tangle of issues that can easily sway the answer from a strong “avoid at all costs” to “yes, there’s value there.” According to Wikipedia, “Robo-advisors are a class of financial advisers that provide financial advice or portfolio management online with minimal human […]
Humaniq to use blockchain for social good
A London/Luxembourg start-up is planning to use the blockchain to create a new kind of bank that will help tackle global poverty. It will enable people to use its cryptocurrency to donate or lend money, and bring banking services and income generation opportunities to “the last billion”. Humaniq has been developed by a group of people, many with experience in cryptocurrencies, who have seen the potential of biometrics, blockchain and mobile to help solve a number of social and economic problems. The challenge they aim to tackle is considerable. “Over 2 billion people in the world don’t have bank accounts. About 1.5 billion people don’t have any identification documents. They […]
Australia’s Top 25 fintech influencers revealed
finder.com.au has released its list of Australia’s Top 25 Fintech Influencers. The people on it work in a variety of areas within the fintech sector, including lending, venture capital, the blockchain, bitcoin, coworking spaces and hubs, the media and fintech industry bodies. Australia has a strong history with fintech, having been recognised for embracing fintech startups and engaging in international agreements that drive innovation forward. However, without the individual voices within the fintech industry, change wouldn’t happen and innovation would be much more stagnant. For this list, factors we considered included: Editorial judgement Social following Industry involvement and visibility Notable successes Each of the top 25 influencers is visually represented […]
ChimpChange growth supercharged by U.S. tax season
ChimpChange Limited, Australia’s only listed digital banking platform, is pleased to present its March 2017 quarterly report on business progress. Strong organic growth supercharged by the U.S. tax refund season The Company delivered strong growth across all areas of its business and continued to confirm the opportunity in the US market for an innovative tech-driven fee-free consumer banking product. Key metrics including customer deposits, new customers, and customer spend utilising the ChimpChange MasterCard all grew ahead of forecast and delivered company-wide records during the quarter. The period also saw a seasonal boost in deposits in the form of tax refund inflows, which we now expect to experience annually, and which […]
Interest in FinTech services highest among younger tech savvy users
The financial services industry has, since the financial crisis, found itself operating in a rapidly evolving environment, as regulatory requirements, customer expectations, new technologies and new FinTech entrants create a perfect storm of change. A new report finds that uptake of FinTech propositions differs considerably between generations and other groups, and that trust in the industry remains problematic. The financial services industry continues to face uncertainties from various fronts. Following the financial crisis, regulatory efforts aimed at limiting future risk and creating stability in the industry brought about a range of new regulatory frameworks, which are currently being implemented. At the same time, a raft of changes have begun to […]
Barclays is building Europe’s biggest fintech workspace in London
Next week banking giant Barclays will cut the ribbon on what it’s calling Europe’s largest co-working space dedicated to financial technology. More than 40 companies will be housed across the vast 30,000 sq ft of workspace, spread over seven floors, with four balconies and two mezzanines. The site is already being called a clear sign of London’s continued dominance in the financial technology sector, despite the dark cloud of Brexit over the capital. This newly refurbished Shoreditch block will soon become the new home of Barclay’s Rise in London. Rise is Barclays’ ‘fintech’ innovation arm which includes workspaces. The bank runs seven Rise workspaces around the world, in cities like […]
