Introducing the DAO: The organisation that will kill corporations May 3, 2016 Imagine a world where companies didn’t exist. Instead of corporate entities being brought into existence through statute, networks of individuals would work, co-operate and generate wealth via DAOs – decentralised autonomous organisations. The hierarchical, centrally governed organisations we’re all so familiar with would not be needed. This is the world that the creators of the [...]
Nutmeg chief Nick Hungerford is stepping down May 3, 2016 One of the UK’s best known fintech entrepreneurs Nick Hungerford is stepping down as chief of the Nutmeg, the wealth management startup he co-founded. The firm, which has landed millions of pounds in backing from the likes of Schroders, has named revenue chief Martin Stead his successor and Hungerford will become a non-executive director. Here’s what [...]
How established firms can fight back against fintech startups and being “uberised” April 29, 2016 When a new species enters an ecosystem, it can be disastrous for the existing inhabitants. The same is true in business. Financial markets are awash with innovation – fintech rules the day. Established players, worried that they may suddenly get ‘uberised’, have been forced to sit up. Read more: Fintech is coming to take your banking [...]
Peer-to-peer mortgage company LendInvest announces £40m warehouse funding line from Macquarie April 28, 2016 A peer-to-peer (P2P) mortgage lender has announced a new funding round worth £40m. The firm has signed a warehouse financing deal with investment bank Macquarie. LendInvest said the £40m, used to fund mortgages via its website, will allow it to grow and consolidate its position in the UK short-term mortgage market. Read more: Skype's founder just invested £17m in this [...]
How alternative finance is making supply chain finance sexy – a Q&A with C2FO’s Colin Sharp April 28, 2016 The world of alternative finance is increasingly varied. There are property equity crowdfunding platforms, remittance firms with Wikipedia payment models. Specialist lending products are growing in popularity and some firms are looking at blockchain technology. Platform C2FO is focused on helping to bring liquidity to business supply chains. It gives companies visibility of their entire [...]
Finance actually wants more regulation because of the rise of artificial intelligence fintech in the world’s markets April 25, 2016 The finance world is cautiously optimistic about the future of artificial intelligence and how it can be used, but, there is more work needed on regulating the technology when it comes to world markets. “Financial institutions have been fined billions of dollars because of illegality and compliance breaches by traders. A logical response by banks is to [...]
Death of a unicorn: Inside one of the biggest startup failures of all time – and Powa Technologies boss Dan Wagner’s surprise statement April 18, 2016 Powa Technologies, once valued at more than $1bn making it one of Britain's rare breed of so-called unicorns, collapsed into tech myth earlier this year. In fact, it was one of the most well funded startups in the world to ever fail, according to tech data gurus at CB Insights, after raising multi-millions of pounds worth [...]
London’s fintech bubble hasn’t burst yet as established financial institutions remain desperate to be involved with startups April 13, 2016 Suggestions that London’s fintech investment bubble is about to burst have been largely rebuffed and it would appear banks and other traditional financial institutions are still keen to fund new entrants to the industry. However many are in danger of buying into so-called innovation theatre, collecting a trophy cabinet of proof-of-concept fintech startups that bank customers neither need nor want, [...]
Airbnb’s hired blockchain technology experts April 13, 2016 The home rental startup superstar Airbnb is the latest business eyeing up blockchain technology. Just weeks after Airbnb co-founder Nathan Blecharczy spoke to City A.M about the potential blockchain technology might have in its business, than the company has made several hires of experts in the technology. Several staff from US-based ChangeCoin, a startup which created micro-payments platform ChangeTip, have been snapped up by Airbnb. [...]
Fintech collaborators gain ground on disrupters as global investment rockets by 67 per cent in first quarter of 2016 April 13, 2016 It pays to be kind in fintech. Or, at least, it shows how mature you are. A new report has suggested collaborative fintech ventures, which target financial institutions as customers, are gaining ground on disrupters, which aim to compete with them. Globally, collaborative ventures accounted for 38 per cent of all fintech investment in 2010. In [...]