How banks can innovate in an age of Fintech disruption


The sheer speed of technological innovation has upended the way companies operate from across multiple industries. The eruption of digital technologies and its supporting infrastructure has enabled the spectacular growth of technology giants such as Amazon, Facebook, Apple, and Google et al. Specifically, they have leveraged the power of the platform business model to cast a web so wide that it has fragmented traditional linear value chains and created new value from open ecosystems. Companies founded on the concept of the platform have a fundamentally different business model from traditional service providers. For example, Airbnb is the largest hospitality provider in the world yet has no physical assets. This platform model not only allows new entrants to scale faster but also allows them to innovate faster by being more agile and responsive to market needs. Finance disrupted Enabler technologies like cloud computing, Big Data and APIs are providing entrepreneurs with…

CFTE working with MAS to help ASEAN finance professionals acquire the skills of Finance 2.0


CFTE working to partner with Singapore's financial regulatory body, MAS, with the intention to establish its first international education hub in Singapore.   The Centre for Finance, Technology and Entrepreneurship (CFTE) has signalled its intention today to set up its first international hub in Singapore. CFTE has been working closely with the Monetary Authority of Singapore (MAS) to formalise plans to expand CFTE’s education initiative to ASEAN. The objective is to train finance professionals in technology-related skills to help them transition to a world of digital finance, both in Singapore and in the ASEAN region.   Tram Anh Nguyen, CFTE’s Co-founder, said:  "I strongly believe that in a world dominated by technology, people must remain at the centre of society and organisations, and that education and training are key to help individuals adapt to a fast changing world. Singapore and MAS have a very comprehensive strategy about human capital and we are…

CFTE Newsletter – 29th July to 5th August


Expert Analysis   Author: Huy Nguyen Trieu (aka Fintech Sensei) The Headline Kabbage raises $250m from Softbank Breaking it down Kabbage is one of the pioneers of automated lending to SMEs. Instead of relying on manual processes, Kabbage uses real-time data about SMEs (e.g. their Amazon sales figures, their Paypal payment data, their UPS shipping data, even their Facebook client rating) to build automated credit scores. Kabbage continues to grow strongly, and after having received funding from Santander, ING and others last year, just received an additional $250m from Softbank – showing that there is still a lot of investor interest in Fintech. Wrapping it up Companies like Kabbage are not necessarily well-known by the general public, but started the very important trend of automated lending, which is now becoming widespread. Although Kabbage is not profitable yet, it continues to grow, attracts clients, and raises large amounts of funding. There are many companies…

CFTE Newsletter – 22nd July to 29th July


Fintech detectives, CBI Insights, on the mark again  CBI Insights, the tech market intelligence supremo’s released their Global Fintech Report for Q2, which made for very interesting reading. $5.2bn raised in Q2, taking the years total to over $8bn and on track to beat 2016’s high of $13.5bn+ 5 new Fintechs join the unicorn (aka startups with $1bn+ valuations) club in Q2 meaning there are now 26 globally. 500 startups (who we share our offices with) is still the biggest investor in global Fintech companies Proxy war between Asia's tech giants is bubbling nicely Didi Chuxing, the company that ousted Uber from the Chinese ride-sharing market, and Japan’s Softbank have invested $2.5bn in Singapore’s Grab, another ride-sharing startup. Grab dominates the market in SE Asia along with Go-Jek, its Indonesian based competitor – who received funding from another Chinese tech giant, Tencent. Both offer payment services to their network of users. It's this kind of…

CFTE Newsletter – 17th July to 22nd July


Curated stories from our weekly newsletter Arm yourself with some Fintech knowledge... 1. Technology represents significant opportunities for finance professionals if they are proactive about upskilling – this is a message we’ve been preaching for some time – but we’re not alone! – By Quartz…..click here to read more   2. Here at CFTE, we like to talk about the opportunity for FinTech to provide basic financial services to the unbanked. There’s money in it too you know. About $380bn. This lovely infographic explains all – By Visual Capitalist…..click here to read more  3. Wealth management startup, Betterment’s latest funding round value’s the company at $800m, sending out a strong signal to traditional players that it’s a business model that’s here to stay. Although they do have some competition on their hands – By Bloomberg Markets…..click here to read more 4.  Singapore is positioning itself to be a global hub for Fintech, its regulatory…

Fintech Knowledge – 26th June to 31st June


If you've joined via the email newsletter, welcome back! If you're joining us after browsing our lovely blog then this segment is a continuation of our weekly newsletter where we share our thought on some of the week's top stories. The newsletter provides weekly updates on what we've been up to and if you're interested in receiving these updates, then sign up at the bottom of the page. Curated Stories CFTE is in the News! It's been about a month since our launch and we're already in the FT! Sorry to gloat, but this feat is too good no to broadcast to the world. Laura Noonan, FT’s smart cat banking correspondent spoke to Huy and Tram Anh about their ambitions for CFTE. It’s a great piece which really sums up what we’re all about. So if you’re still unclear about what CFTE stands for then read the full article here.…

CFTE announces additional board members from Citi, HSBC, Ping An and Teach On Mars


We are very happy and proud to announce that 4 exceptional people are joining our boards: - Ronit Ghose, Global Head of Bank Research at Citi - Christophe Chazot, Global Head of Innovation at HSBC (on sabbatical) - Ericson Chan, CEO of Ping An Technology - Vincent Desnot, CEO of Teach On Mars. This is being announced at Money 20/20 in Copenhagen, where our co-founders are also making the news: they are the first couple ever to be both speakers at the largest Fintech event in Europe. Huy has already spoken today (about core banking technologies), while Tram Anh will speak twice on Wednesday (about the jobs of tomorrow in finance and on financial inclusion). Ronit, Christophe, Ericson and Vincent are joining the 7 other board members, Christophe and Vincent on the academic board, and Ronit and Ericson on the advisory board. Welcome to all of them! You can find the full press release here If…

Fintech Event Calendar: Week beginning 26th June to 1st July


The weeks top London Fintech events handpicked just for you: FinTech Innovation Conference London When: 30th June 2017, 13:30 to 19:00 (BST) Where:  Berkely Square, London Why: Ok so if you have some time to spare this one would be highly recommended. It's being organised by the Swiss Banking Advisory and will focus on Fintech and innovation, particularly across the investment categories. Top executives and professionals will be in attendance so you'll have a great chance to network and talk about current issues in finance and innovation. Tickets are north of £100 but the speakers will cover some of the major trends affecting the industry. Register Here Crash and Learn with Fintech Founders by Deloitte When: 28th June 2017, 18:00 to 21:00 (BST) Where:  WeWork Waterhouse Square Why:  Understanding the keys to success is one of the most sought after pieces of knowledge every budding entrepreneur seeks to understand. Deloitte team up with some hugely successful Fintech entrepreneurs…

Newsletter – 19th June to 24th June


CFTE Newsletter If you've joined via the email newsletter, welcome back! If you're joining us after browsing our lovely blog then this segment is a continuation of our weekly newsletter. The newsletter provides weekly updates on what we've been up to and if you're interested in receiving these updates, then sign up at the bottom of the page. CFTE Fintech Round-up Why banks must embrace open banking or risk disintermediation Banks globally, are facing increasing competition from fintech start-ups offering more focused banking services with superior customer experience. This article from ZDnet captures the mood perfectly. In order to remain competitive banks must change their inward looking attitude and open up their banking infrastructure. A key aspect of this will be to make their API's available to third parties, which means sharing customer data and enabling new functionalities to be added to existing banking services. The hope is that by…

Disruptive duo becomes first couple to take the stage at Money 20/20


A first for CFTE and Money 20/20 Money 20/20 kicks off next Monday in Copenhagen, and CFTE will be in town. We’ve been told that Money 20/20 has seen father and son speakers, brothers together on stage, but never a couple. Well, all that’s about to change. At CFTE, we love being disruptive and are proud to announce our Co-founders, Tram Anh and Huy, will be the first couple ever to talk at the largest Fintech event in Europe! And they have an amazing agenda in store for everyone... (more…)