Das Schweizer Technologie-Unternehmen Scenic Swisscoast GmbH hat den weltweit ersten UNICEF Ethereum Smart Contract realisiert. Damit gewinnt UNICEF einen zusätzlichen Kanal für das Fundraising, während Scenic Swisscoast mit dieser Lösung die Alltagstauglichkeit der digitalen Währung Ethereum unter Beweis stellt. Digitale Währungen wie Bitcoin und Ethereum werden zurzeit vor allem mit dem der Finanzmarkt und undurchsichtigen Geschäften in den Tiefen des Internets in Bezug gebracht. Das es aber auch anders geht und diese Währungsalternativen auch in anderen Kontexten eingesetzt werden können, zeigt diese konkrete Beispiel: das Schweizer Technologie-Unternehmen Scenic Swisscoast hat für die Innovationsförderung der UNICEF den weltweit ersten Smart Contract, basierend auf der Ethereum-Blockchain, realisiert. Damit…

Federal Councillor Ueli Maurer visit on August 25 various fintech firms in Zug and Zurich. In the context of the visits, startup firms will provide information on current technological developments, the associated risks and opportunities and the challenges they face. According to finews he will visit Monetas, Bitcoin Suisse, Crowdfunding platform Wemakeit and Data specialist Swissquant. A dynamic fintech system can contribute significantly to the quality of Switzerland’s financial centre and boost its competitiveness. Against this backdrop, easing of the regulatory framework for providers of innovative financial technologies was brought into force by the Federal Council on 5 July 2017.…

Fintech has taken the finance and banking sector by storm, especially as a response to the 2008 financial crisis. Many academics and experts have explored the emergence of trend, and study the opportunities and challenges that digital platforms, cutting-edge technologies and new business models have brought to the sector. Today, we look at ten must-read research papers that explore fintech, blockchain, regtech, and regulation, among other related topics. The Evolution of Fintech: A New Post-Crisis Paradigm? University of Hong Kong Faculty of Law Research Paper No. 2015/047 UNSW Law Research Paper No. 2016-62 Since 2008, a new era of…

Deutsche Bank recommends robo-advisors for financial inclusivity. It also suggests that it complement traditional financial advisory, instead of replacing it altogether, in a bid to target underserved consumers. Deutsche Bank’s August 10 issue of its EU Monitor research report titled Robo-advice – a true innovation in asset management notes that hybrid services that combine features of both robo-advice and traditional financial advice could benefit asset and wealtj managers. This is despite robo-advisors possibly posing as a challenge to traditional financial advisory services, thanks to its user-friendliness, automated processes, low-cost portfolio management and solid performance, said the report. Robo-advisors create client…

Eine grosse Mehrheit der Schweizer Führungskräfte ist sich der Veränderungen, die die Digitalisierung mit sich bringt bewusst. Jedes Unternehmen setzt inzwischen auf Digitalisierung. Die grössten technologischen Innovationen definieren sich heute aber nicht über die Tools selbst, sondern darüber, wie gut sie für den einzelnen Menschen gemacht sind. Denn die Technologie passt sich dem Menschen an, nicht mehr der Mensch der Technologie, so lautet die Kernaussage der „Accenture Technology Vision 2017“. Die Studie hat sich mit den disruptiven Technologietrends der kommenden drei Jahre befasst und Schweizer Unternehmen bezüglich dieser Trends untersucht und analysiert. In der Schweiz ist man sich der Veränderungen,…

Thomson Reuters  announced in July the launch of Thomson Reuters LabsTM – The Incubator. Located in Switzerland, the Incubator will host early-stage entrepreneurs building next-generation products in big data, advanced analytics, distributed ledgers, artificial intelligence, machine learning and other transformational technologies. As part of the official program, startups will receive access to Thomson Reuters data and content sets, mentoring from experienced executives and networking opportunities for investment and commercialization. The Incubator is the next horizon of the company’s significant investment in the Thomson Reuters Labs network. With locations in innovation ecosystems around the globe, the Innovation Labs collaborate with customers, universities and…

Despite its little-deserved reputation as the sleepy corner of financial services, insurance can be a disorientating industry to work in as Insurers and Insurtechs alike contend not just with cyclical adjustments but massive seismic shifts in the business. Low interest rates continue to constrain carriers’ investment profits, while, in our globalising and increasingly interconnected societies, risks are becoming trickier to understand and price. Meanwhile, the growth of digital distribution – in financial services and much more broadly – is driving a far-reaching re-evaluation of the insurer-customer relationship. And, as every challenge is also an opportunity, we find Insurtechs and outside-of-industry…

In an earlier article on the World Economic Forum’s report (Read here), it’s mentioned that the WEF advocates a multi-stakeholder approach to govern blockchain and cryptocurrencies. Recognizing the nature of distributed ledgers, stewardship by stakeholders and not a heavy-handed approach is recommended. Curious of how regulation is going to take shape in Europe going into 2018? Address legal uncertainties and concerns at the 2nd annual Blockchain for Finance Conference Europe. It is set to be the European meeting point for finance and technology professionals who are working to move blockchain projects from proof-of-concept to full-scale deployment. The conference will cover the most…

Fintech has the potential to improve both financial stability and access to services. But for the sector to thrive, there needs to be significant changes in the focus of regulation, according to a new Bank for International Settlements (BIS) Working Paper. The paper, written by French economist and professor of finance at New York University, Stern School of Business, Thomas Philippon, explores the potential impact of fintech on the finance industry. Titled “The Fintech Opportunity,” the report argues that the current financial system is rather inefficient. Many advanced economies have reached a point where “‘more finance’ is not helpful.” Yet,…

The rapid development of fintech around the world is leading to significant shifts in the global financial industry and forcing banks and financial institutions to rethink their growth strategies. Compared to leading fintech hubs such as London and Silicon Valley, Switzerland is still behind expectations in regards to fintech. Yet, Switzerland’s financial center offers a promising starting point for fintech ventures, supported by a government that’s been pushing for financial innovation and new regulations intended to provide more clarity and confidence. Switzerland’s fintech startup scene is growing steadily, with now 207 startups tackling various segments such as payments, crowdfunding, data…

 Professor Patrick Schueffel from the Institute for Entrepreneurship & Small and Medium Enterprises in Switzerland defines the word Fintech in his article, featured in Volume 4 in the Journal of Innovation Management. The article, which was published last year, attempts a definition, drawing from more than 200 scholarly articles referencing the term over a period of 40 years. “The term Fintech has been applied in various business contexts, often inconsistently and ambiguously,” wrote Schueffel. “But if Fintech is truly meant to be meaningful and comparable, then the methodology and definitions used must be precise and uniform,” he continued. He added…

Has there been a week in 2017 where you didn’t read, or at least scrolled by, an article on blockchain or Bitcoin and its various potentials for the future? Chances are, you will come across an article today after finishing reading this one. In its short history the Bitcoin economy has undergone various shifts, in fact, as Tasca, Liu, Hayes analyze in their paper published in June 2016, the Bitcoin economy traversed through three distinct phases, growing from 1,0000 daily transactions in 2011 to 300,000 in 2016. Before delving deeper into their analysis we’d like to advise our readers that…

Peer-to-peer (P2P) lending has become a popular alternative to traditional bank loans for both businesses and individuals. The global P2P lending market was valued at US$26 billion in 2015 and is projected to reach US$460 billion by 2022, growing at a compound annual growth rate of 51.5% from 2016 to 2022, according to Research and Markets. P2P lending allows companies and individuals to borrow directly from tens, sometimes hundreds, of people who are ready to lend. Lenders often bid for loans by offering an interest rate at which they would lend. Borrowers then accept loan offers at the lowest interest…

Die auf bargeldloses Bezahlen spezialisierte Aduno Gruppe übernimmt die Mehrheit an Contovista. Nach der erfolgreichen Lancierung der PFM-Lösung 2015 und der damals erfolgten Beteiligung von 14 Prozent, übernimmt die Aduno Gruppe nun mit 70 Prozent die Mehrheit. 30 Prozent von Contovista bleiben im Besitz der Gründungsaktionäre, welche auch weiterhin für das operative Geschäft verantwortlich bleiben. Über den Kaufpreis wurde Stillschweigen vereinbart. Martin Huldi, CEO der Aduno Gruppe: «Die Digitalisierung erfasst die gesamte Finanzbranche und gewinnt laufend an Bedeutung. Mit innovativen Produkten und Dienstleistungen entwickeln wir unser Geschäftsmodell weiter und wollen eine Vorreiterrolle einnehmen. Zusammen mit starken Partnern wie Contovista schaffen…

Fintech has become a true global phenomenon, attracting US$17.4 billion in venture capital in 2016, an 11% increase compared to 2015, according to data provided by PitchBook. While China, the US and the UK remain the clear leaders in the field, other unexpected countries are seeing their domestic fintech sector rapidly grow. In Central and Eastern Europe (CEE), Austria is home to very successful fintech ventures. Some are already global leaders in their field of expertise, while others have just begun expanding to other parts of Europe. Today, we look at some of Austria’s hottest fintech startups. Wikifolio Wikifolio is…

Fintech is gaining steam in Iran as the country’s central bank, financial institutions and government agencies are taking steps to make Tehran a regional hub for financial innovation. This comes as part of the Iran Vision 2025, which seeks to turn Iran into a developed country by 2025, as well as “the first economic, scientific and technological power of the region.” As part of the plan, the Central Bank of Iran (CBI) has proposed its 2025 Roadmap which aims for the development of a strong future for the banking system. The roadmap is set to define an appropriate role for…

The World Economic Forum (WEF) said governing blockchain appropriately will bring out its best qualities. It compares the blockchain era to the first era of the Internet. The blockchain era should not be governed by nation states, state-based institutions or corporations, said the WEF in a white paper titled Realizing the Potential of Blockchain A Multi-stakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies. Blockchain needs to be governed through a multi-stakeholder approach using what the WEF calls “global governance networks” – a concept developed in its previous programme investigating multi-stakeholder networks for global problem-solving. WEF notes that the genius…

The success of blockchain, the technology underlying Bitcoin, has grown each year as angel investors, VCs and banks continue to inject millions in investments to fuel the development of systems based on blockchain, attracted by the technology’s potential to streamline processes, cut out intermediaries and significantly reduce operational costs across various industries. Around the world, financial institutions, corporations and government agencies have begun either deploying blockchain solutions or exploring the use of the technology in various applications and areas, ranging from diamond supply chain tracking, governmental land title recording, to cross-border payments, and securities clearing and settlement. According to Goldman…

Wealth management has now reached a point where a mind shift has become essential, as the gap between profitability and market share has widened to unsustainable levels, said Deloitte. In its report Innovation in Private Banking and Wealth Management: Embracing the Business Model Change, it noted that he profitability of European Wealth Managers has been in constant decline in recent years, with profit margins falling by 40 percent between 2000 and 2015. It pointed out that in 2015, the indices for market volume and wealth managers’ profitability have diverged by more than 100 percentage points from their individual levels of…

The massive growth of the fintech industry has been matched by the rapid increase in the number of international conferences. Below, we’ve listed three upcoming fintech events and conferences in Europe that anyone in the financial services should attend in order to keep with the burgeoning sector. Fintechnews readers will get for all this events generous discounts. Blockchain for Finance Conference Europe 2017 October 03-04, 2017 Dublin, Ireland The 2nd annual Blockchain for Finance Conference Europe is set to be the European meeting point for finance and technology professionals who are working to move blockchain projects from proof-of-concept to…